Document:

Securities Purchase Agreement

 Exhibit 10.2 
 SECURITIES PURCHASE AGREEMENT 
 BETWEEN 
 VERINT SYSTEMS INC. 
 AND 
 COMVERSE TECHNOLOGY, INC. 
 Dated May 25, 2007 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 Article I
	  	 Definitions
	  	1
			
	 1.1
	  	 Certain Definitions
	  	1
	 1.2
	  	 Construction
	  	3
			
	 Article II
	  	 Purchase and Sale of Securities
	  	3
			
	 2.1
	  	 Purchase and Sale of Securities
	  	3
	 2.2
	  	 Purchase Price
	  	3
	 2.3
	  	 Closing Date
	  	3
	 2.4
	  	 Proceedings at Closing
	  	4
			
	 Article III
	  	 Representations and Warranties of the Company
	  	4
			
	 3.1
	  	 Organization and Power
	  	4
	 3.2
	  	 Authorization
	  	4
	 3.3
	  	 Consents and Approvals
	  	5
	 3.4
	  	 No Conflicts
	  	5
	 3.5
	  	 Authorization of Securities
	  	5
	 3.6
	  	 Valid Offering
	  	5
	 3.7
	  	 Brokers’ Fees
	  	5
			
	 Article IV
	  	 Representations and Warranties of the Purchaser
	  	6
			
	 4.1
	  	 Organization
	  	6
	 4.2
	  	 Authorization
	  	6
	 4.3
	  	 Consents and Approvals
	  	6
	 4.4
	  	 No Conflicts
	  	6
	 4.5
	  	 Brokers’ Fees
	  	7
	 4.6
	  	 Investment Representations
	  	7
	 4.7
	  	 Restricted Securities
	  	7
	 4.8
	  	 Accredited Investor
	  	7
	 4.9
	  	 Investment
	  	7
	 4.10
	  	 Knowledge and Experience
	  	7
	 4.11
	  	 No Solicitation
	  	7
	 4.12
	  	 Restrictions on Transfer
	  	8
	 4.13
	  	 Access to Management
	  	8
			
	 Article V
	  	 Covenants
	  	8
			
	 5.1
	  	 All Reasonable Efforts; Further Assurances
	  	8
	 5.2
	  	 Public Announcements
	  	9
	 5.3
	  	 Confidentiality
	  	9
	 5.4
	  	 Use of Proceeds
	  	9
	 5.5
	  	 Removal of Legends
	  	9
			
	 Article VI
	  	 Closing Deliveries
	  	10
			
	 6.1
	  	 Items to Be Delivered by the Company
	  	10
	 6.2
	  	 Items to Be Delivered by the Purchaser
	  	10
			
	 Article VII
	  	 Survival
	  	10
			
	 7.1
	  	 Survival of Representations, Warranties, and Covenants
	  	10
			
	 Article VIII
	  	 Miscellaneous
	  	10

  

 i 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	 8.1
	  	 Amendments
	  	10
	 8.2
	  	 Assignment
	  	10
	 8.3
	  	 Binding Effect
	  	11
	 8.4
	  	 Counterparts
	  	11
	 8.5
	  	 Entire Agreement
	  	11
	 8.6
	  	 Fees and Expenses
	  	11
	 8.7
	  	 Governing Law
	  	11
	 8.8
	  	 Headings
	  	11
	 8.9
	  	 Notices
	  	11
	 8.10
	  	 Severability
	  	12
	 8.11
	  	 Third-Party Beneficiaries
	  	13
	 8.12
	  	 Waiver
	  	13

  

 ii 

 SECURITIES PURCHASE AGREEMENT 
 THIS SECURITIES PURCHASE AGREEMENT (this “Agreement”) is entered into as of May 25, 2007, between Verint Systems Inc., a Delaware
corporation (the “Company”), and Comverse Technology, Inc., a New York corporation (the “Purchaser”). 
 WHEREAS, the Company has entered into the Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company, White Acquisition Corporation, a Delaware corporation and a wholly-owned subsidiary of the Company
(“White”), and Witness Systems, Inc., a Delaware corporation (“Witness”), pursuant to which Witness will, on the terms and subject to the conditions set forth in the Merger Agreement, merge with and into White (the
“Merger”); 
 WHEREAS, pursuant to the Merger Agreement, the Company has agreed to finance the Merger through a combination
of (i) cash on hand (including cash of Witness), (ii) the proceeds from a debt financing (the “Debt Financing”), pursuant to a commitment letter dated February 11, 2007, among Lehman Brothers Inc., Lehman
Commercial Paper Inc., Lehman Brothers Commercial Bank, Deutsche Bank Securities Inc., Deutsche Bank AG, New York Branch, Credit Suisse Securities (USA) LLC and Credit Suisse and the Company (the “Debt Commitment Letter”), and
(iii) the proceeds from the issuance of equity securities to the Purchaser (the “Equity Financing”) pursuant to a commitment letter (the “Equity Commitment Letter”) dated February 11, 2007, between the
Company and the Purchaser; 
 WHEREAS, in connection with the Equity Financing, the Company desires to create a new series of preferred
stock, designated as the Series A Convertible Perpetual Preferred Stock, par value $0.001 per share (the “Convertible Preferred Stock”), of the Company by filing a Certificate of Designation, Preferences and Rights in the form
attached hereto as Exhibit A (the “Certificate of Designation”) with the office of the Secretary of State of the State of Delaware, in accordance with the General Corporation Law of the State of Delaware (the
“DGCL”); and 
 WHEREAS, on the terms and subject to the conditions set forth in this Agreement, the Company desires to
issue and sell to the Purchaser, and the Purchaser desires to purchase and acquire from the Company, 293,000 shares (the “Preferred Shares”) of Convertible Preferred Stock. 
 NOW, THEREFORE, in consideration of the foregoing recitals and the representations, warranties, covenants, and agreements herein contained, and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE I  
 Definitions 
 1.1 Certain Definitions. The following terms shall have the meanings set forth below (and such meanings shall be equally applicable to both the singular and plural form of the terms defined, as the context may
require): 
 “Affiliate” means, in respect of any Person, any other Person that is directly or indirectly controlling,
controlled by, or under common control with such Person or any of its Subsidiaries, and the term “control” (including the terms “controlled by” and “under common control with”) means having, directly or indirectly, the
power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities or by contract or otherwise. 
 “Certificate of Designation” has the meaning ascribed to it in the recitals to this Agreement. 

 “Closing” has the meaning ascribed to it in Section 2.3. 
 “Closing Date” has the meaning ascribed to it in Section 2.3. 
 “Common Stock” means the shares of the Company’s common stock, par value $0.001 per share. 
 “Company” has the meaning ascribed to it in the preamble to this Agreement. 
 “Conversion Shares” has the meaning ascribed to it in Section 3.5. 
 “Convertible Preferred Stock” has the meaning ascribed to it in the recitals to this Agreement. 
 “DGCL” has the meaning ascribed to it in the recitals to this Agreement. 
 “Encumbrance” means any security interest, lien, pledge, claim, charge, escrow, encumbrance, option, right of first offer, right of
first refusal, preemptive right, mortgage, indenture, security agreement or other similar agreement, arrangement, contract, commitment, understanding, or obligation, whether written or oral, and whether or not relating in any way to credit or the
borrowing of money. 
 “Governmental Entity” means any federal, state, or municipal court or other governmental department,
commission, board, bureau, agency, or instrumentality, governmental or quasi-governmental, domestic or foreign. 
 “Law”
means, the common law and all federal, state, local, and foreign laws, rules and regulations, Orders, and other determinations of the United States, any foreign country, or any domestic or foreign Governmental Entity. 
 “Material Adverse Effect” means, with respect to any party, any result, occurrence, fact, change, or event that, individually, or in the
aggregate with any such other results, occurrences, facts, changes, or events, has a material adverse effect on (i) the business, operations, or financial position of any of such party and its Subsidiaries, taken as a whole, (ii) the
ability of any of such party to perform in a timely manner any of its obligations under this Agreement or any of the Transaction Documents or any transaction contemplated hereby or thereby, or (iii) the legality, validity, or enforceability of
this Agreement or the other Transaction Documents. 
 “Order” has the meaning ascribed to it in Section 3.4.

 “Person” means any individual, partnership, limited partnership, corporation, limited liability company, association,
joint stock company, trust, joint venture, unincorporated organization, or Governmental Entity. 
 “Preferred Shares” has
the meaning ascribed to it in the recitals to this Agreement. 
 “Preferred Stock” has the meaning ascribed to it in
Section 3.5. 
 “Purchase Price” has the meaning ascribed to it in Section 2.2. 
 “Purchaser” has the meaning ascribed to it in the recitals to this Agreement. 
 “Receiving Party” has the meaning ascribed to it in Section 5.3. 
  

 2 

 “Registration Rights Agreement” shall mean that Registration Rights Agreement to be
entered into at the Closing by and among the Company and the Purchaser. 
 “Representatives” has the meaning ascribed to it
in Section 5.3. 
 “SEC” means the U.S. Securities and Exchange Commission and any governmental body or agency
succeeding to the functions thereof. 
 “Securities Act” means the Securities Act of 1933, as amended. 
 “Subsidiary” means, in respect of any Person, any Person in which such first Person, directly or indirectly, beneficially owns more than
50% of either the equity interest in, or the voting control of, such Person, whether or not existing on the date hereof. 
 “Transaction Documents” means, collectively, this Agreement and the Registration Rights Agreement, and each other document, instrument, certificate, or agreement to be executed by the parties to effect each of the forgoing
agreements. 
 “White” has the meaning ascribed to it the recitals to this Agreement. 
 “Witness” has the meaning ascribed to it the recitals to this Agreement. 
 1.2 Construction. 
 (a) All references to “Articles,” “Sections,” “Schedules,” and “Exhibits” contained in this Agreement are, unless specifically indicated otherwise, references to articles,
sections, schedules, or exhibits of or to this Agreement. 
 (b) As used in this Agreement, the following terms shall have the
meanings indicated: (i) “day” means a calendar day; (ii) “U.S.” or “United States” means the United States of America; (iii) “dollar” or “$” means
lawful currency of the United States; (iv) “including” or “include” means “including without limitation”; and (v) references in this Agreement to specific Laws (such as the DGCL), or to specific
sections or provisions of Laws, apply to the respective U.S. or state Laws that bear the names so specified and to any succeeding Law, section, or provision corresponding thereto and the rules and regulations promulgated thereunder. 
 ARTICLE II  
 Purchase and Sale of
Securities 
 2.1 Purchase and Sale of Securities. On the terms and subject to the conditions set forth herein, on the
Closing Date, the Company shall issue, sell, and deliver to the Purchaser, and the Purchaser shall purchase and acquire from the Company, the Preferred Shares. 
 2.2 Purchase Price. On the terms and subject to the conditions set forth herein, the consideration to be paid to the Company by the Purchaser for the 293,000 shares of Convertible Preferred Stock is $1,000
per share, for a collective purchase price of $293.0 million (the “Purchase Price”). The Purchase Price shall be paid by wire transfer of immediately available funds to the Company’s account designated on Exhibit B.

 2.3 Closing Date. The closing of the purchase and sale of the Preferred
Shares (the “Closing”) shall take place at the offices of Jones Day, 222 East 41st Street, New
York, New York 10017, 

  

 3 

 
at 10:00 a.m., local time, on the closing date of the Merger. The date of the Closing is referred to herein as the “Closing Date.”

 2.4 Proceedings at Closing. All actions to be taken and all documents to be executed and delivered by the Company in
connection with the consummation of the transactions offer, sale and issuance of the Preferred Shares shall be reasonably satisfactory in form and substance to the Purchaser and its counsel, and all actions to be taken and all documents to be
executed and delivered by the Purchaser in connection with the consummation of the offer, sale and issuance of the Preferred Shares shall be reasonably satisfactory in form and substance to the Company and its counsel. All actions to be taken and
all documents to be executed and delivered by all parties hereto at the Closing shall be deemed to have been taken and executed and delivered simultaneously, and no action shall be deemed taken nor any document executed or delivered until all have
been taken, executed, and delivered. At the Closing, (i) the Company shall deliver to the Purchaser the items in Section 6.1 and (ii) the Purchaser shall deliver to the Company the items described in Section 6.2.

 ARTICLE III  
 Representations and Warranties of the Company 
 The Company hereby makes the following representations and warranties to the
Purchaser, each of which is true and correct as of the date hereof, and shall be unaffected by any investigation heretofore or hereafter made by the Purchaser: 
 3.1 Organization and Power. The Company and each of its Subsidiaries is a corporation duly incorporated, validly existing, and, in good standing under the Laws of the jurisdiction of its incorporation. The
Company and each of its Subsidiaries has the requisite corporate power and authority to own, lease, or otherwise hold the assets and properties owned, leased, or otherwise held by it and necessary to carry on their business as presently conducted,
taken as a whole. Except as set forth on Schedule 3.1, the Company and each of its Subsidiaries is in good standing and is duly qualified to conduct business as a foreign corporation in each jurisdiction in which the nature of its business or the
ownership of property make such qualification necessary, except where the failure to be so qualified would not reasonably be expected to have a Material Adverse Effect on the Company and its Subsidiaries, taken as a whole. 
 3.2 Authorization. The Company has the requisite corporate power and authority to execute and deliver this Agreement and each other
Transaction Document to be executed by it in connection with the consummation of the transactions contemplated hereby and to perform its obligations hereunder and thereunder. The execution and delivery by the Company of this Agreement and each other
Transaction Document and the performance by it of its obligations hereunder and thereunder have been (or at the time of execution will be) duly authorized by all necessary corporate action on the part of the Company. This Agreement and each
Transaction Document to which the Company is a party has been duly executed and delivered by duly authorized officers of the Company and, assuming the due execution and delivery of this Agreement and each other Transaction Document by the other
party or parties hereto or thereto, each of the Agreement and the other Transaction Documents which constitute valid and binding obligations of the Company enforceable against the Company in accordance with their respective terms, except as may be
limited by bankruptcy, insolvency, reorganization, moratorium, and other Laws of general applicability affecting the enforcement of creditors’ and contracting parties’ rights generally and subject to general principles of equity
(regardless of whether such enforceability is considered in a proceeding at law or in equity). 
  

 4 

 3.3 Consents and Approvals. Assuming the accuracy of the representations made by the Purchaser in
Article IV of this Agreement, no consent, approval, license, permit, order or authorization of, or registration, declaration, notice or filing with, any Governmental Entity or any stock market or stock exchange on which shares of Company
Common Stock are listed for trading is required on the part of the Company or any of its Subsidiaries in connection with the execution and delivery of this Agreement by the Company or the consummation by the Company of the transactions contemplated
by this Agreement, except for (i) the filing of the Certificate of Designation with the Secretary of State of the State of Delaware, (ii) such consents, approvals, orders, authorizations, registrations, declarations and filings as may be
required under applicable state securities Laws, and (iii) such consents, approvals, orders, authorizations, registrations, declarations and filings as have been made or obtained, as applicable. 
 3.4 No Conflicts. The execution and delivery of this Agreement does not and neither the performance by the Company of its obligations
hereunder and thereunder, nor the consummation of the transactions contemplated hereby and thereby, will, (i) conflict with the certificate of incorporation or bylaws of the Company or comparable organizational documents of any of the
Subsidiaries of the Company, (ii) conflict with, result in any violation of, constitute a default under, or give rise to a right of termination, cancellation, or acceleration of, or any obligation or to loss of a benefit under, any contract to
which the Company or any of its Subsidiaries is a party, except in the case where there would be no Material Adverse Effect on the Company and the Subsidiaries, taken as a whole, (iii) violate any citation, order, judgment, decree, writ, or
injunction (“Order”) of any Governmental Entity applicable to the Company or any of its Subsidiaries, except in the case where there would be no Material Adverse Effect on the Company and the Subsidiaries, taken as a whole, or
(iv) violate any Law applicable to the Company or any of its Subsidiaries, except in the case where there would be no Material Adverse Effect on the Company and the Subsidiaries, taken as a whole. 
 3.5 Authorization of Securities. The authorized capital stock of the Company consists of 120,000,000 shares of Common Stock and 2,500,000 shares
of preferred stock, $0.001 par value per share (the “Preferred Stock”), 293,000 of which have been designated as the Convertible Preferred Stock. As of April 30, 2007, there are 32,519,327 shares of Common Stock issued and
outstanding and 1,800 shares of Common Stock are held by the Company as treasury stock. As of the date hereof, there are no shares of Preferred Stock issued and outstanding. The rights, preferences, privileges and restrictions of the Preferred
Shares will be as set forth in the Certificate of Designation. The shares of Common Stock issuable upon conversion of the Preferred Shares (the “Conversion Shares”) have been duly and validly reserved for issuance. When issued and
delivered in accordance with the terms of this Agreement and the Certificate of Designation, the Preferred Shares and the Conversion Shares will be duly authorized, validly issued, fully paid, and nonassessable, and free and clear of all
Encumbrances. 
 3.6 Valid Offering. Assuming the truth and accuracy of the representations and warranties of the Purchaser set forth
in Article IV hereof, the offer, sale, and issuance of the Preferred Shares and the Conversion Shares as contemplated by this Agreement and the Certificate of Designation do not require registration under the Securities Act or applicable blue-sky
Laws. 
 3.7 Brokers’ Fees. No person has acted, directly or indirectly, as a broker, finder or financial advisor for the
Company or any of its Subsidiaries in connection with the transactions contemplated by this Agreement. Neither the Company nor any Person acting on its behalf has agreed to pay any commission, finder’s or broker’s fee, or similar payment
in connection with the transactions contemplated by this Agreement or any matter related hereto to any Person for which the Company or any of its Subsidiaries will be liable. The Company agrees to indemnify and hold harmless the Purchaser from any
liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this 

  

 5 

 
transaction (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or
representatives is responsible. 
 ARTICLE IV  
 Representations and Warranties of the Purchaser 
 The Purchaser hereby makes the following
representations and warranties to the Company, each of which is true and correct as of the date hereof: 
 4.1 Organization. The
Purchaser is a corporation duly incorporated, validly existing, and in good standing under the Laws of the State of New York, and the Purchaser’s principal place of business is the State of New York. The Purchaser has the requisite corporate
power and authority to own, lease, or otherwise hold the assets and properties owned, leased, or otherwise held by it and necessary to carry on its business as presently conducted. Except as set forth on Schedule 4.1, the Purchaser is in good
standing and is duly qualified to conduct business as a foreign corporation in each jurisdiction in which the nature of its business or the ownership of property make such qualification necessary, except where the failure to be so qualified would
not reasonably be expected to have a Material Adverse Effect on the Purchaser. 
 4.2 Authorization. The Purchaser has the
requisite corporate power and authority to execute and deliver this Agreement and each other Transaction Document and to perform its obligations hereunder and thereunder. The execution and delivery by the Purchaser of this Agreement and each other
Transaction Document and the performance by it of its obligations hereunder and thereunder have been (or at the time of execution will be) duly authorized by all necessary corporate action on the part of the Purchaser. This Agreement has been and
each other Transaction Document will be duly executed and delivered by the Purchaser and, assuming the due execution and delivery of this Agreement and each other Transaction Document by the other party or parties hereto or thereto, each of this
Agreement and the other Transaction Documents constitute valid and binding obligations of the Purchaser enforceable against the Purchaser in accordance with their respective terms, except as may be limited by bankruptcy, insolvency, reorganization,
moratorium, and other Laws of general applicability affecting the enforcement of creditors’ and contracting parties’ rights generally and subject to general principles of equity (regardless of whether such enforceability is considered in a
proceeding at law or in equity). 
 4.3 Consents and Approvals. No consent, approval, waiver, order, or authorization of, or
registration, declaration, or filing with, or notice to, any Person or Governmental Entity is required to be obtained or made on the part of the Purchaser in connection with the execution and delivery of this Agreement or any Transaction Document by
the Purchaser, the performance by the Purchaser of its obligations hereunder and thereunder, or the consummation of the transactions contemplated hereby or thereby. 
 4.4 No Conflicts. The execution and delivery of this Agreement does not and each other Transaction Document will not, and neither the performance by the Purchaser of its obligations hereunder and
thereunder, nor the consummation of the transactions contemplated hereby and thereby, will not (i) conflict with the certificate of incorporation or bylaws of the Purchaser or comparable organizational documents of any of the Subsidiaries of
the Purchaser, (ii) conflict with, result in any violation of, constitute a default under, or give rise to a right of termination, cancellation, or acceleration of, or any obligation or to loss of a benefit under, any contract to which the
Purchaser or any of its Subsidiaries is a party, except in the case where there would be no Material Adverse Effect on the Purchaser and the Subsidiaries, taken as a whole, (iii) violate any Order of any Governmental Entity applicable to the
Purchaser or any of its Subsidiaries, except in the case where there would be no Material Adverse Effect on the Company and the Subsidiaries, taken as a whole, or (iv) violate any Law applicable to the 

  

 6 

 
Purchaser or any of its Subsidiaries, except in the case where there would be no Material Adverse Effect on the Purchaser and its Subsidiaries, taken as a
whole. 
 4.5 Brokers’ Fees. Neither the Purchaser nor any Person acting on its behalf has agreed to pay any commission,
finder’s or broker’s fee, or similar payment in connection with the transactions contemplated by this Agreement or any matter related hereto to any Person for which the Company or any of its Subsidiaries will be liable. The Purchaser
agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending against such
liability or asserted liability) for which the Purchaser or any of its officers, employees, or representatives is responsible. 
 4.6
Investment Representations. The Purchaser understands that neither the Preferred Shares nor the Conversion Shares have been registered under the Securities Act and that the Preferred Shares are being offered and sold to the Purchaser pursuant
to an exemption from the registration requirements of the Securities Act based in part upon the Purchaser’s representations contained in this Agreement. 
 4.7 Restricted Securities. The Purchaser understands that the Preferred Shares will be characterized as “restricted securities” under the Securities Act and that, as such, the Preferred Shares may be
resold without registration under the Securities Act only pursuant to an effective registration statement, or pursuant to an exemption from or in a transaction not subject to, the registration requirements of the Securities Act. Except as
contemplated by the Registration Rights Agreement, the Purchaser understands that the Company is under no obligation to register the Preferred Shares or the Conversion Shares and that the Company has no present intention of doing so. The Purchaser
also understands that there is no assurance that any exemption from registration under the Securities Act will be available with respect to any transfer of Preferred Shares or Conversion Shares by the Purchaser and that, even if available, such
exemption may not allow the Purchaser to transfer all or any portion of the Preferred Shares or the Conversion Shares under the circumstances, in the amounts or at the times the Purchaser might propose. 
 4.8 Accredited Investor. The Purchaser is an “accredited investor” as such term is defined in Regulation D under the Securities Act.

 4.9 Investment. The Purchaser is acquiring the Preferred Shares for its own account for investment and not with a view to, or for
sale in connection with, any distribution thereof, nor with any present intention of distributing or selling the same and, except for transfers permitted without provision of an opinion of counsel reasonably acceptable to the Company, the Purchaser
has no present or contemplated agreement, undertaking, arrangement, obligation, indebtedness or commitment providing for the disposition thereof. The Purchaser also represents that it has not been formed for the specific purpose of acquiring the
Preferred Shares. 
 4.10 Knowledge and Experience. The Purchaser has such knowledge and experience in financial and business matters
that the Purchaser is capable of evaluating the merits and risks of an investment in the Preferred Shares and of making an informed investment decision and can bear a complete loss of the Purchaser’s investment. 
 4.11 No Solicitation. At no time was the Purchaser presented with or solicited by any publicly issued or circulated newspaper, mail, radio,
television or other form of general advertising or solicitation in connection with the offer, sale and purchase of the Preferred Shares. 
 4.12 Restrictions on Transfer. 
  

 7 

 (a) Until the six-month anniversary of the Closing Date, the Purchaser hereby agrees that
it will not, directly or indirectly, sell, offer, contract or grant any option to sell (including without limitation any short sale), pledge, transfer or otherwise dispose of any Preferred Shares or Conversion Shares. 
 (b) The Purchaser understands that certificates representing the Preferred Shares and, when issued, the Conversion Shares will bear
legends as follows: 
 (i) “THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY
MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS
NOT REQUIRED, OR UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN THE STOCK PURCHASE AGREEMENT DATED AS OF MAY 25, 2007, A COPY OF WHICH IS AVAILABLE
FROM THE COMPANY.” 
 (ii) Any legend required by the securities laws of any state to the extent such laws are applicable
to the Preferred Shares and Conversion Shares represented by the certificate so legended. 
 4.13 Access to Management. The Purchaser
confirms that, in making its decision to purchase the Preferred Shares, the Purchaser has relied solely upon the Company’s representations and warranties in Section 3 hereof and independent investigations made by the Purchaser (including
through its designated representatives on the Company’s Board of Directors), and that the Purchaser’s representatives have been given the opportunity to ask questions of, and to receive answers from, management, the Company’s legal
and financial advisors, and other persons acting on behalf of the Company concerning the Company and the terms and conditions of the transactions contemplated by this Agreement (including the Merger), and to obtain any additional information, to the
extent such persons possess such information. 
 ARTICLE V  
 Covenants 
 5.1 All Reasonable Efforts; Further Assurances. Subject
to the terms and conditions hereof, each of the parties hereto shall use its commercially reasonable efforts to take, or cause to be taken, all action, and do, or cause to be done, as promptly as practicable, all things necessary, proper, or
advisable under applicable Law to consummate and make effective as promptly as practicable the transactions contemplated hereby. At and from time to time after the Closing, at the request of any party hereto, the other party shall execute and
deliver such additional certificates, instruments, and other documents and take such other actions as such party may reasonably request in order to carry out the purposes of this Agreement. 
  

 8 

 5.2 Public Announcements. The Company and the Purchaser will consult with each other and will
mutually agree (the agreement of each party not to be unreasonably withheld) upon the content and timing of any press release or other public statement in respect of the transactions contemplated hereby and shall not issue any such press release or
make any such public statement prior to such consultation and agreement, except as may be required by applicable Law; provided, however, that the Company and the Purchaser will give prior notice to the other party of the content and
timing of any such press release or other public statement. 
 5.3 Confidentiality. Each party hereto agrees that such party will
hold, and will use its commercially reasonable efforts to cause its officers, directors, members, managers, partners, employees, accountants, counsel, consultants, advisors, financial sources, financial institutions, and agents (the
“Representatives”) to hold, in confidence all confidential information and documents received from the other party hereto, except to the extent such information (i) was previously known on a non-confidential basis to the party
receiving such information or documents (“Receiving Party”), (ii) was in the public domain through no fault of the Receiving Party, (iii) was independently developed by the Receiving Party, (iv) was later developed by
the Receiving Party from sources other than the disclosing party not known by the Receiving Party to be bound by any confidentiality obligation, or (v) is required to be disclosed by Law or by any Governmental Entity. 
 5.4 Use of Proceeds. The Company will use the proceeds received from the issuance and sale of the Preferred Shares to pay a portion of the
purchase price for the Merger and related fees and expenses, and for no other purposes. 
 5.5 Removal of Legends. The Company, as
promptly as practicable after the six-month anniversary of the Closing Date and without any requirement of a legal opinion provided by the Purchaser, shall remove or cause to be removed all restrictive stock legends set forth in
Section 4.12 from the certificates representing the Preferred Shares and, if any then issued, the Conversion Shares, and after such six-month anniversary, the Preferred Shares and, when issued, the Conversion Shares will bear legends as
follows: 
 (i) “THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE
SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT
REQUIRED, OR UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT.” 
 (ii) Any legend required by the securities laws of any
state to the extent such laws are applicable to the Preferred Shares and Conversion Shares represented by the certificate so legended. 
  

 9 

 ARTICLE VI  
 Closing Deliveries 
 6.1 Items to Be Delivered by the Company. At the Closing, the
Company shall deliver to Purchaser: 
 (a) Convertible Preferred Stock Certificates. One or more validly issued
certificates representing the Preferred Shares duly executed by the appropriate officers of the Company. 
 (b) Certified
Copy of Certificate of Designation. A file-stamped copy of the Certificate of Designation as certified by the Secretary of State of the State of Delaware. 
 (c) Registration Rights Agreement. The Registration Rights Agreement duly executed by an authorized officer of the Company.

 (d) Opinion. An opinion from Jones Day, dated as of the Closing Date, in the form attached hereto as Exhibit
C. 
 6.2 Items to Be Delivered by the Purchaser. At the Closing, the Purchaser shall deliver to the Company: 
 (a) Purchase Price. The Purchase Price in accordance with Section 2.2. 
 ARTICLE VII  
 Survival

 7.1 Survival of Representations, Warranties, and Covenants.
 (a) The representations and warranties of the Company and Purchaser contained in this Agreement shall survive indefinitely and shall be
unaffected by any investigation heretofore or hereafter made by the Purchaser or the Company. 
 (b) Unless a specified period
is set forth in this Agreement (in which event such specified period will control), the covenants in this Agreement will survive and remain in effect indefinitely. 
 ARTICLE VIII  
 Miscellaneous 
 8.1 Amendments. This Agreement may be amended, modified, or supplemented only pursuant to a written instrument making specific reference to
this Agreement and signed by each of the parties hereto. 
 8.2 Assignment. The Purchaser shall be entitled to assign its rights
and obligations hereunder to one or more Affiliates (so long as any such Affiliate is an “accredited investor” as such term is defined in Regulation D of the Securities Act) that agree to assume the Purchaser’s obligations hereunder;
provided, that the Purchaser shall remain obligated to perform its obligations hereunder to the extent not performed, or unable to be performed, by such Affiliate(s). This Agreement and the rights and obligations hereunder shall not be
otherwise assigned, delegated, or otherwise transferred (whether by 

  

 10 

 
operation of law, by contract, or otherwise) without the prior written consent of the other party hereto. Any attempted assignment, delegation, or transfer
in violation of this Section 8.2 shall be void and of no force or effect. 
 8.3 Binding Effect. Except as otherwise
expressly provided herein, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. 
 8.4 Counterparts. This Agreement may be executed in multiple counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same
instrument. 
 8.5 Entire Agreement. This Agreement (including the Exhibits attached hereto) and the Transaction Documents
constitute the entire agreement of the parties hereto in respect of the subject matter hereof and thereof, and supersede all prior agreements or understandings, among the parties hereto in respect of the subject matter hereof and thereof.

 8.6 Fees and Expenses. Each party shall bear all of its own expenses (including fees and disbursements of its counsel)
incurred by or on its behalf in connection with the preparation, negotiation, execution, delivery, and performance of this Agreement and each Transaction Document and the consummation of the transactions contemplated hereby and thereby. 

8.7 Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of New York (without reference
to the conflicts of law provisions thereof). Any legal action or proceeding with respect to this Agreement shall be brought in the courts of the State of New York or of the United States of America located in the State of New York. By execution and
delivery of this Agreement, each of the parties hereto accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. The parties hereby irrevocably waive an objection or defense that they
now or hereafter have to the assertion of personal jurisdiction by any court in any such action or to the laying of the venue of any such action in any such court, and hereby waive, to the extent not prohibited by law, and agree not to assert, by
way of motion, as a defense, or otherwise, in any such proceeding, any claim that it is not subject to the jurisdiction of the above-named courts for such proceedings. 
 8.8 Headings. The article and section headings of this Agreement are for convenience of reference only and shall not be deemed to alter or affect the meaning or interpretation of any provision hereof.

 8.9 Notices. Any notice, demand, request, instruction, correspondence, or other document required or permitted to be given
hereunder by any party to the other shall be in writing and delivered (i) in person, (ii) by a nationally recognized overnight courier service requiring acknowledgment of receipt of delivery, (iii) by United States certified mail,
postage prepaid and return receipt requested, or (iv) by facsimile, as follows: 
  

 11 

 If to the Company, to: 
 Verint Systems Inc. 
 330 South Service Road

 Melville, New York 11747 
 Attention: General Counsel 
 Facsimile No.: 212-755-7306 
 with a copy to (which shall not constitute notice): 
 Jones Day 
 222 East 41st Street 
 New York, New York 10017 
 Attention: Dennis P. Barsky 
 Facsimile No.:
212-755-7306 
 If to the Purchaser, to: 
 Comverse Technology, Inc. 
 810 Seventh Avenue 
 New York, New York 10019 
 Attention: General
Counsel 
 Facsimile No.: 212-739-1001 
 with a copy to (which shall not constitute notice): 
 Weil, Gotshal & Manges LLP 
 767 Fifth Avenue 
 New York, New York 10153

 Attention: David Zeltner 
 Facsimile No.: 212-310-8007 
 Notice shall be deemed given, received, and effective on: (i) if given by personal delivery or
courier service, the date of actual receipt by the receiving party, or if delivery is refused on the date delivery was first attempted; (ii) if given by certified mail, the third day after being so mailed if posted with the United States Postal
Service; and (iii) if given by facsimile, the date on which the facsimile is transmitted if confirmed by transmission report during the transmitter’s normal business hours, or at the beginning of the next business day after transmission if
confirmed at any time other than the transmitter’s normal business hours. Any person entitled to notice may change any address or facsimile number to which notice is to be given to it by giving notice of such change of address or facsimile
number as provided in this Section 8.9. The inability to deliver notice because of changed address or facsimile number of which no notice was given shall be deemed to be receipt of the notice as of the date such attempt was first made.

 8.10 Severability. If any provision of this Agreement or the application of such provision to any person or circumstance shall
be held (by a court of competent jurisdiction) to be invalid, illegal, or unenforceable under the applicable Law of any jurisdiction, (i) the remainder of this Agreement or the application of such provision to other persons or circumstances or
in other jurisdictions shall not be affected thereby, and (ii) such invalid, illegal, or unenforceable provision shall not affect the validity or enforceability of any other provision of this Agreement. 
  

 12 

 8.11 Third-Party Beneficiaries. Nothing express or implied in this Agreement is intended or
shall be construed to confer upon or give any other Person any rights or remedies under of by reason of this Agreement or the transactions contemplated hereby. 
 8.12 Waiver. The rights and remedies provided for herein are cumulative and not exclusive of any right or remedy that may be available to any party whether at law, in equity, or otherwise. No delay,
forbearance, or neglect by any party, whether in one or more instances, in the exercise of any right, power, privilege, or remedy hereunder or in the enforcement of any term or condition of this Agreement shall constitute or be construed as a waiver
thereof. No waiver of any provision hereof, or consent required hereunder, or any consent or departure from this Agreement, shall be valid or binding unless expressly and affirmatively made in writing and duly executed by the party to be charged
with such waiver. No waiver shall constitute or be construed as a continuing waiver or a waiver in respect of any subsequent breach or Default, either of similar or different nature, unless expressly so stated in such writing. 
 * * * * * 
 [THE REMAINDER OF THIS PAGE IS
INTENTIONALLY LEFT BLANK] 
  

 13 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written.

  

			
	VERINT SYSTEMS INC.
		
	By:	 	/s/ Peter Fante
	Name:	 	Peter Fante
	Title:	 	General Counsel and Secretary
	
	COMVERSE TECHNOLOGY, INC.
		
	By:	 	/s/ Andre Dahan
	Name:	 	Andre Dahan
	Title:	 	Chief Executive Officer and President

 [SIGNATURE PAGE FOR SECURITIES
PURCHASE AGREEMENT]Indenture dated May 29, 2007

 Exhibit 4.1 
 EXECUTION COPY 
 BROADRIDGE FINANCIAL SOLUTIONS, INC. 
 (as Obligor) 
 and 
 U.S. BANK NATIONAL ASSOCIATION 
 (as Trustee) 
 Indenture 
 Dated as of May 29, 2007

 DEBT SECURITIES 

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page
	 ARTICLE I
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

			
	 SECTION 1.01.
	 	Definitions	  	1
	 SECTION 1.02.
	 	Officer’s Certificates and Opinions	  	8
	 SECTION 1.03.
	 	Form of Documents Delivered to Trustee.	  	9
	 SECTION 1.04.
	 	Acts of Holders.	  	9
	 SECTION 1.05.
	 	Notices, Etc., to Trustee and Obligor	  	10
	 SECTION 1.06.
	 	Notice to Holders; Waiver	  	10
	 SECTION 1.07.
	 	Conflict with Trust Indenture Act	  	11
	 SECTION 1.08.
	 	Effect of Headings and Table of Contents	  	11
	 SECTION 1.09.
	 	Successors and Assigns	  	11
	 SECTION 1.10.
	 	Separability Clause	  	11
	 SECTION 1.11.
	 	Benefits of Indenture	  	11
	 SECTION 1.12.
	 	Governing Law	  	11
	 SECTION 1.13.
	 	Counterparts	  	11
	 SECTION 1.14.
	 	Legal Holidays	  	12
	
	 ARTICLE II
 THE NOTES

			
	 SECTION 2.01.
	 	Form and Dating.	  	12
	 SECTION 2.02.
	 	Execution and Authentication.	  	15
	 SECTION 2.03.
	 	Temporary Notes	  	16
	 SECTION 2.04.
	 	Registration, Transfer and Exchange.	  	16
	 SECTION 2.05.
	 	Mutilated, Destroyed, Lost and Stolen Notes.	  	19
	 SECTION 2.06.
	 	Payment of Interest; Interest Rights Preserved.	  	20
	 SECTION 2.07.
	 	Persons Deemed Owners.	  	21
	 SECTION 2.08.
	 	Cancellation	  	21
	 SECTION 2.09.
	 	Computation of Interest	  	22
	 SECTION 2.10.
	 	CUSIP Numbers	  	22
	
	 ARTICLE III
 DISCHARGE OF INDENTURE

			
	 SECTION 3.01.
	 	Discharge of Indenture	  	22
	 SECTION 3.02.
	 	Defeasance and Discharge of Covenants upon Deposit of Moneys, U.S. Government Obligations	  	23
	 SECTION 3.03.
	 	Application of Trust Money	  	25
	 SECTION 3.04.
	 	Paying Agent to Repay Moneys Held	  	25
	 SECTION 3.05.
	 	Return of Unclaimed Amounts	  	25
	 SECTION 3.06.
	 	Reinstatement	  	26

  

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	 	 	  	Page
	 ARTICLE IV
 REMEDIES

			
	 SECTION 4.01.
	 	Events of Default	  	26
	 SECTION 4.02.
	 	Acceleration of Maturity; Rescission and Annulment.	  	28
	 SECTION 4.03.
	 	Collection of Indebtedness and Suits for Enforcement.	  	29
	 SECTION 4.04.
	 	Trustee May File Proofs of Claim.	  	29
	 SECTION 4.05.
	 	Trustee May Enforce Claims Without Possession of Notes	  	30
	 SECTION 4.06.
	 	Application of Money Collected	  	30
	 SECTION 4.07.
	 	Limitation on Suits	  	31
	 SECTION 4.08.
	 	Unconditional Right of Holders to Receive Payment of Principal, Premium and Interest	  	31
	 SECTION 4.09.
	 	Restoration of Rights and Remedies	  	31
	 SECTION 4.10.
	 	Rights and Remedies Cumulative	  	31
	 SECTION 4.11.
	 	Delay or Omission Not Waiver	  	32
	 SECTION 4.12.
	 	Control by Holders	  	32
	 SECTION 4.13.
	 	Waiver of Past Defaults	  	32
	 SECTION 4.14.
	 	Undertaking for Costs	  	33
	 SECTION 4.15.
	 	Waiver of Stay or Extension Laws	  	33
	
	 ARTICLE V
 THE TRUSTEE

			
	 SECTION 5.01.
	 	Certain Duties and Responsibilities of Trustee.	  	33
	 SECTION 5.02.
	 	Notice of Defaults	  	34
	 SECTION 5.03.
	 	Certain Rights of Trustee	  	35
	 SECTION 5.04.
	 	Not Responsible for Recitals or Issuance of Notes	  	36
	 SECTION 5.05.
	 	May Hold Notes	  	36
	 SECTION 5.06.
	 	Money Held in Trust	  	36
	 SECTION 5.07.
	 	Compensation and Reimbursement	  	36
	 SECTION 5.08.
	 	Disqualification; Conflicting Interests	  	37
	 SECTION 5.09.
	 	Corporate Trustee Required; Eligibility	  	37
	 SECTION 5.10.
	 	Resignation and Removal; Appointment of Successor.	  	38
	 SECTION 5.11.
	 	Acceptance of Appointment by Successor	  	39
	 SECTION 5.12.
	 	Merger, Conversion, Consolidation or Succession to Business	  	40
	 SECTION 5.13.
	 	Preferential Collection of Claims Against Obligor	  	40
	 SECTION 5.14.
	 	Appointment of Authenticating Agent.	  	40
	
	 ARTICLE VI
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND OBLIGOR

			
	 SECTION 6.01.
	 	Obligor to Furnish Trustee Names and Addresses of Holders	  	42
	 SECTION 6.02.
	 	Preservation of Information; Communications to Holders.	  	42

  

 TABLE OF CONTENTS 
 (continued) 

					
	 	 	 	  	Page
	 SECTION 6.03.
	 	Reports by Trustee.	  	43
	 SECTION 6.04.
	 	Reports by Obligor.	  	43
	
	 ARTICLE VII
 CONSOLIDATION, MERGER OR TRANSFER

			
	 SECTION 7.01.
	 	When Obligor May Merge or Transfer Assets	  	44
	 SECTION 7.02.
	 	Successor Entity Substituted	  	45
	
	 ARTICLE VIII
 SUPPLEMENTAL INDENTURES

			
	 SECTION 8.01.
	 	Supplemental Indentures Without Consent of Holders	  	45
	 SECTION 8.02.
	 	Supplemental Indentures with Consent of Holders	  	46
	 SECTION 8.03.
	 	Execution of Supplemental Indentures	  	47
	 SECTION 8.04.
	 	Effect of Supplemental Indentures	  	47
	 SECTION 8.05.
	 	Conformity with Trust Indenture Act	  	47
	 SECTION 8.06.
	 	Documents to Be Given to Trustee	  	47
	 SECTION 8.07.
	 	Notation on Notes in Respect of Supplemental Indentures	  	47
	
	 ARTICLE IX
 COVENANTS

			
	 SECTION 9.01.
	 	Payment of Principal, Premium and Interest	  	48
	 SECTION 9.02.
	 	Maintenance of Office or Agency	  	48
	 SECTION 9.03.
	 	Money for Note Payments to be Held in Trust	  	49
	 SECTION 9.04.
	 	Certificate to Trustee	  	49
	 SECTION 9.05.
	 	Existence	  	50
	 SECTION 9.06.
	 	Limitation on Liens	  	50
	 SECTION 9.07.
	 	Limitation on Sale-Leaseback Transactions	  	51
	
	 ARTICLE X
 REDEMPTION OF NOTES

			
	 SECTION 10.01.
	 	Optional Redemption	  	52
	 SECTION 10.02.
	 	Mandatory Redemption	  	52

 THIS INDENTURE, between Broadridge Financial Solutions, Inc., a Delaware corporation (the
“Obligor”), having its principal office at 2 Journal Square Plaza, Jersey City, New Jersey, 07306, and U.S. Bank National Association, as trustee (the “Trustee”), is made and entered into as of this 29th day of May, 2007.

 RECITALS OF THE OBLIGOR 
 WHEREAS, the Obligor has duly authorized the issuance from time to time of its debt securities in one or more series (the “Notes”) up to such principal amount or amounts as may from time to time be authorized in accordance with
the terms of this Indenture and to provide, among other things, for the authentication, delivery and administration thereof, the Obligor has duly authorized the execution and delivery of this Indenture; and 
 WHEREAS, all things necessary to make this Indenture a valid agreement of the Obligor, in accordance with its terms, have been done. 
 NOW, THEREFORE: 
 In consideration of the
premises and the purchases of the Notes by the Holders (as hereinafter defined) thereof, the Obligor and the Trustee mutually covenant and agree for the equal and proportionate benefit of the respective Holders from time to time of the Notes or any
series thereof as follows: 
 ARTICLE I 
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
 SECTION 1.01. Definitions. For all purposes of this Indenture, and
of any indenture supplemental hereto, except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms
defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 
 (2) all other
terms used herein which are defined in the Trust Indenture Act (as hereinafter defined), either directly or by reference therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP; and 
 (4) all references in this instrument to designated “Articles,” “Sections” and other subdivisions are to the designated Articles,
Sections and other subdivisions of this instrument as originally executed. The words “herein,” “hereof,” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular
Article, Section, or other subdivision. 

 “Act,” when used with respect to any Holder, has the meaning specified in
Section 1.04. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of
such Person, directly or indirectly, whether through the ownership of voting securities, by contract, or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 
 “Attributable Debt” has the meaning specified in Section 9.07. 
 “Authenticating Agent” means any Person authorized by the Trustee to authenticate Notes under Section 5.14. 
 “Authentication Order” has the meaning specified in Section 2.02(1). 
 “Bankruptcy Code” means title 11, U.S. Code, as amended, or any similar state or federal law for the relief of debtors. 
 “Board of Directors” means (i) the Board of Directors of the Obligor, (ii) any committee of such Board of Directors,
(iii) any committee of officers of the Obligor or (iv) any officer of the Obligor, in the cases of clauses (ii)-(iv), authorized with respect to any matter to exercise the powers of the Board of Directors of the Obligor. 
 “Board Resolution” means a copy of a resolution certified by the secretary or an assistant secretary of the Obligor to have been duly
adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
 “Business Day” means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions in New York City are authorized or required by law, regulation or executive order
to be closed. 
 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under
the Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties on such date. 
 “Company Request” or “Company Order” means a written request or order, respectively, signed in the name of the Obligor
by any Officer thereof and delivered to the Trustee. 
 “Consolidated Net Tangible Assets” means, as of the time of
determination, the aggregate amount of the assets of the Obligor and the assets of its consolidated subsidiaries after deducting (1) all goodwill, trade names, trademarks, service marks, patents, unamortized debt discount and expense and other
intangible assets and (2) all 

 
current liabilities, as reflected on the most recent consolidated balance sheet prepared by the Obligor in accordance with GAAP contained in an annual report
on Form 10-K or a quarterly report on Form 10-Q timely filed or any amendment thereto (and not subsequently disclaimed as not being reliable by the Obligor) prior to the time as of which “Consolidated Net Tangible Assets” is being
determined. 
 “Corporate Trust Office” means the office of the Trustee in the City of New York at which at any particular
time its corporate trust business shall be principally administered, which office at the date hereof is located at U.S. Bank National Association, 100 Wall Street, Suite 1600, New York, NY 10005, except that with respect to the presentation of Notes
for payment or registration of transfer or exchange and with respect to the location of the Security Register, such term shall mean the office or the agency of the Trustee in said city at which at any particular time its corporate agency business
shall be conducted, which office at the date hereof is located at U.S. Bank National Association, 60 Livingston Avenue, EP-MN-WS3C, St. Paul, MN 55107-2292. 
 “Covenant Defeasance” has the meaning specified in Section 3.02. 
 “Custodian” means the Person appointed by the Obligor to act as custodian for the Depositary, which Person shall be the Trustee unless and until a successor Person is appointed by the Obligor. 
 “Defaulted Interest” has the meaning specified in Section 2.06. 
 “Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with this Indenture.

 “Depositary” means with respect to the Notes of any series issuable or issued in whole or in part in global form, the
Person designated as Depositary for such series by the Obligor pursuant to Section 2.01 or 2.04, unless and until a successor Depositary for such series shall have become such pursuant to the applicable provisions of this Indenture, and
thereafter “Depositary” with respect to the Notes of a series shall mean or include each Person who is then a Depositary hereunder with respect to such series. 
 “Discharged” has the meaning specified in Section 3.02. 
 “DTC” has
the meaning specified in Section 2.04(2). 
 “Event of Default” has the meaning specified in Section 4.01.

 “Exchange Act” means the U.S. Securities Exchange Act of 1934 (or any successor Act), as amended, and the rules and
regulations of the Commission promulgated thereunder. 
 “GAAP” means generally accepted accounting principles in the United
States of America in effect on the date of the Indenture. 

 “Global Note” means each note in global form issued in accordance with this Indenture
and bearing the Global Note Legend. 
 “Global Note Legend” means the legend set forth in Section 2.01, which is
required to be placed on all Global Notes issued pursuant to this Indenture. 
 “Guarantee” means any obligation, contingent
or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person (1) to purchase or pay (or advance or supply funds for the
purchase or payment of) such Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or by agreement to keep well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement
conditions or otherwise) or (2) entered into for purposes of assuring in any other manner the obligee of such indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided,
however, that the term “guarantee” will not include endorsements for collection or deposit in the ordinary course of business. The term “guarantee,” when used as a verb, has a correlative meaning. 
 “Holder” and “Holder of Notes” means a Person in whose name a Note is registered in the Security Register. 

“Incur” means issue, assume, guarantee or otherwise become liable for. 
 “Indebtedness” means, with respect to any Person, obligations (other than Non-recourse Obligations) of such Person for borrowed money
(including, without limitation, indebtedness for borrowed money evidenced by notes, bonds, debentures or similar instruments). 
 “Indenture” or “this Indenture” means this Indenture, as amended or supplemented from time to time. 
 “Interest Payment Date,” when used with respect to any Note, means the date specified in such Note on which an installment of interest on such Note is scheduled to be paid. 
 “Issue Date” of any Note (or portion thereof) means the earlier of (a) the date of such Note or (b) the date of any Note (or
portion thereof) for which such Note was issued (directly or indirectly) on registration of transfer, exchange or substitution. 
 “Legal Defeasance” has the meaning specified in Section 3.02. 
 “Maturity,” when used with
respect to any Note, means the date on which all or a portion of the principal amount outstanding under such Note becomes due and payable, whether on the Maturity Date or by declaration of acceleration, call for redemption, or otherwise. 

 “Maturity Date,” when used with respect to any Note or any installment of principal
thereof, means the date specified in such Note as the fixed date on which the principal of such Note or such installment of principal becomes due and payable. 
 “Non-recourse Obligation” means Indebtedness or other obligations substantially related to the financing of a project involving the development or expansion of properties of the Obligor or any direct
or indirect subsidiaries of the Obligor, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Obligor or any direct or indirect subsidiary of the Obligor or such subsidiary’s assets other than the
assets which were acquired with the proceeds of such transaction or the project financed with the proceeds of such transaction (and the proceeds thereof). 
 “Notes” has the meaning specified in the Recitals of the Obligor on the first page of this Indenture, including any replacement Notes issued therefor in accordance with this Indenture. 
 “Obligor” means Broadridge Financial Solutions, Inc., a Delaware corporation, unless and until a successor entity or assign shall have
assumed the obligations of the Obligor under this Indenture and the Notes and thereafter “Obligor” shall mean such successor entity or assign. 
 “Officer” means the Chairman of the Board, any Vice Chairman, the Chief Executive Officer, the Chief Financial Officer, the President, any Vice President, the Treasurer, the Secretary, any Assistant
Treasurer or any Assistant Secretary of the Obligor. 
 “Officer’s Certificate” means, with respect to any Person, a
certificate signed on behalf of such Person by any Officer of such Person that meets the applicable requirements of this Indenture. 
 “Opinion of Counsel” means, with respect to the Obligor or the Trustee, a written opinion of counsel to the Obligor or the Trustee, as the case may be, which counsel may be an employee of the Obligor or the Trustee, as the
case may be. 
 “Outstanding,” when used with respect to the Notes or any series of Notes, means, as of the date of
determination, all Notes or all Notes of such series, as the case may be, theretofore authenticated and delivered under this Indenture, except: 
 (a) such Notes or such Notes of such series, as the case may be, theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 
 (b) such Notes or such Notes of such series, as the case may be, or portions thereof, for whose payment or redemption money in the necessary amount has been theretofore deposited in trust with the Trustee or with any
Paying Agent other than the Obligor, or, if the Obligor shall act as its own Paying Agent, has been set aside and segregated in trust by the Obligor; provided, in any case, that if such Notes or such Notes of such series, as the case may be,
are to be redeemed prior to their Maturity Date, notice of such redemption has been duly given pursuant to any redemption provision adopted under Section 2.01 of this Indenture or provision therefor satisfactory to the Trustee has been made;

 (c) such Notes or such Notes of such series, as the case may be, in exchange for or in lieu of which
other Notes or other Notes of such series, as the case may be, have been authenticated and delivered pursuant to this Indenture, or which shall have been paid, in each case, pursuant to the terms of Section 2.05 (except with respect to any such
Note or any such Note of such series, as the case may be, as to which proof satisfactory to the Trustee is presented that such Note or such Note of such series, as the case may be, is held by a person in whose hands such Notes or such Notes of such
series, as the case may be, is a legal, valid, and binding obligation of the Obligor); and 
 (d) solely to the extent provided in
Article III, Notes or Notes of such series, as the case may be, which are subject to Legal Defeasance or Covenant Defeasance as provided in Section 3.02. In determining whether the Holders of the requisite principal amount of such Notes or
Notes of such series, as the case may be, Outstanding have given a direction concerning the time, method and place of conducting any proceeding for any remedy available to the Trustee, or concerning the exercise of any trust or power conferred upon
the Trustee under this Indenture, or concerning a consent on behalf of the Holders of the Notes or the Holders of the Notes of such series, as the case may be, to the waiver of any past default and its consequences, Notes or the Notes of such
series, as the case may be, owned by the Obligor, any other obligor upon the Notes or Notes of such series, as the case may be, or any Affiliate of the Obligor or such other obligor shall be disregarded and deemed not to be Outstanding. In
determining whether the Trustee shall be protected in relying upon any request, demand, authorization, direction, notice, consent, or waiver hereunder, only Notes or Notes of such series, as the case may be, which a Responsible Officer assigned to
the corporate trust department of the Trustee knows to be owned by the Obligor or any other obligor upon the Notes or the Notes of such series, as the case may be, or any Affiliate of the Obligor or such other obligor shall be so disregarded. Notes
or Notes of such series, as the case may be, so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right to act as owner with respect to such
Notes or Notes of such series, as the case may be, and that the pledgee is not the Obligor or any other obligor upon the Notes or the Notes of such series, as the case may be, or any Affiliate of the Obligor or such other obligor. 
 “Paying Agent” means any Person appointed by the Obligor to distribute amounts payable by the Obligor on the Notes. The Obligor may act
as its own Paying Agent. As of the date of this Indenture, the Obligor has appointed the Trustee as Paying Agent with respect to all Notes issuable hereunder. 
 “Person” means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, or government, or political
subdivision thereof. 
 “Place of Payment” means the place specified pursuant to Section 9.02. 

 “Predecessor Notes” of any particular Note means every previous Note evidencing all or a
portion of the same debt as that evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 2.05 in lieu of a lost, destroyed, mutilated, or stolen Note shall be deemed to
evidence the same debt as the lost, destroyed, mutilated, or stolen Note. 
 “Record Date” means any date as of which the
Holder of a Note of any series will be determined for any purpose described herein, such determination to be made as of the close of business on such date by reference to the Security Register, and in relation to a determination of a payment of an
installment of interest on the Notes of any series, shall have the meaning specified in such series of Notes. 
 “Redemption
Date” when used with respect to any Notes to be redeemed, means the date fixed for such redemption in any notice of redemption issued pursuant to any redemption provision adopted under Section 2.01 of this Indenture. 
 “Redemption Price” when used with respect to any Notes to be redeemed, means the price specified in any optional redemption provision
pursuant to Section 2.01(1)(v)(f). 
 “Registrar” means the Person who maintains the Security Register, which Person
shall be the Trustee unless and until a successor Registrar is appointed by the Obligor. 
 “Responsible Officer” when used
with respect to the Trustee, means any officer of the Trustee having direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is
referred because of his or her knowledge of and familiarity with the particular subject. 
 “Sale and Leaseback Transaction”
has the meaning specified in Section 9.07. 
 “Securities Act” means the U.S. Securities Act of 1933 (or any successor
Act), as amended, and the rules and regulations of the Commission promulgated thereunder. 
 “Security Register” has the
meaning specified in Section 2.04. 
 “Significant Subsidiary” has the meaning set forth in Rule 1-02(w) of Regulation
S-X under the Securities Act. 
 “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 2.06. 
 “Subsidiary” means, with respect to any Person (the “parent”) at any
date, any corporation, limited liability company, partnership, association or other entity of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a
partnership, more than 50% of the general partnership interests are, as of that date, owned, controlled or held by the parent or one or more Subsidiaries of the parent or by the parent and one or more Subsidiaries of the parent. 

 “Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939,
as amended, as in force as of the date hereof; provided that, with respect to every supplemental indenture executed pursuant to this Indenture, “Trust Indenture Act” or “TIA” shall mean the Trust Indenture
Act of 1939, as then in effect. 
 “Trustee” means the Person named as the “Trustee” in the first paragraph
of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean, or include each Person who is then a Trustee hereunder, and if at any
time there is more than one such Person, “Trustee” as used with respect to the Notes of any series shall mean the Trustee with respect to the Notes of that series. 
 “U.S. Government Obligations” means (a) securities that are direct obligations of the United States of America, the payment of
which is unconditionally guaranteed by the full faith and credit of the United States of America and (b) securities that are obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of
America, the payment of which is unconditionally guaranteed by the full faith and credit of the United States of America, and also includes depository receipts issued by a bank or trust company as custodian with respect to any of the securities
described in the preceding clauses (a) and (b), and any payment of interest or principal payable under any of the securities described in the preceding clauses (a) and (b) that is held by such custodian for the account of the holder
of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt, or from any amount received by the custodian in
respect of such securities, or from any specific payment of interest or principal payable under the securities evidenced by such depository receipt. 
 SECTION 1.02. Officer’s Certificates and Opinions. Every Officer’s Certificate, Opinion of Counsel and other certificate or opinion to be delivered to the Trustee under this Indenture with respect to
any action to be taken by the Trustee shall include the following: 
 (1) a statement that each individual signing such certificate or
opinion has read all covenants and conditions of this Indenture relating to such proposed action, including the definitions of all applicable capitalized terms; 
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of each such individual, he or she has made such examination or investigation as is necessary to enable him or her
to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (4) a statement as to whether,
in the opinion of each such individual, such condition or covenant has been complied with. 

 SECTION 1.03. Form of Documents Delivered to Trustee. 
 (1) In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all
such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other
such Persons as to the other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 (2) Any certificate or opinion of an officer of the Obligor may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, legal counsel, unless such officer knows that any such certificate,
opinion, or representation is erroneous. Any opinion of counsel for the Obligor may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Obligor, unless such
counsel knows that any such certificate, opinion, or representation is erroneous. 
 (3) Where any Person is required to make, give, or
execute two or more applications, requests, consents, certificates, statements, opinions, or other instruments under this Indenture, such instruments may, but need not, be consolidated and form a single instrument. 
 SECTION 1.04. Acts of Holders. 
 (1)
Any request, demand, authorization, direction, notice, consent, waiver, or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by
such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and (if expressly required by
the applicable terms of this Indenture) to the Obligor. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or
instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 5.01) conclusive in favor of the Trustee and the Obligor, if made in
the manner provided in this Section 1.04. 
 (2) The fact and date of the execution by any Person of any such instrument or writing may
be proved by the affidavit of a witness to such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged
to him the execution thereof. Where such execution is by an officer of a corporation or a member of a partnership, on behalf of such corporation or partnership, such certificate or affidavit shall also constitute sufficient proof of his authority.
The fact and date of the execution of any such instrument or writing, or the authority of the person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

 (3) The ownership of Notes shall for all purposes be determined by reference to the Security Register, as
such register shall exist as of the applicable Record Date. 
 (4) If the Obligor shall solicit from the Holders any request, demand,
authorization, direction, notice, consent, waiver or other action, the Obligor may, at its option, by Board Resolution, fix in advance a Record Date for the determination of Holders entitled to give such request, demand, authorization, direction,
notice, consent, waiver or other action, but the Obligor shall have no obligation to do so. If such Record Date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may be given before or after such
Record Date, but only the Holders of record at the close of business on such Record Date shall be deemed to be Holders for the purpose of determining whether Holders of the requisite proportion of Notes Outstanding have authorized or agreed or
consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the Notes Outstanding shall be computed as of such Record Date; provided that no such authorization, agreement or
consent by the Holders on such Record Date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after such Record Date. 
 (5) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Note shall bind each subsequent Holder of
such Note, and each Holder of any Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, with respect to anything done or suffered to be done by the Trustee or the Obligor in reliance upon such action,
whether or not notation of such action is made upon such Note. 
 SECTION 1.05. Notices, Etc., to Trustee and Obligor. Any request,
order, authorization, direction, consent, waiver or other action to be taken by the Trustee, the Obligor or the Holders hereunder (including any Authentication Order), and any notice to be given to the Trustee or the Obligor with respect to any
action taken or to be taken by the Trustee, the Obligor or the Holders hereunder, shall be sufficient if made in writing and 
 (1) if to be
furnished or delivered to or filed with the Trustee by the Obligor or any Holder, delivered to the Trustee at its Corporate Trust Office, Attention: Worldwide Securities Services, or 
 (2) if to be furnished or delivered to the Obligor by the Trustee or any Holder, and except as otherwise provided in Section 4.01(3), mailed to the
Obligor, first-class postage prepaid, at the following address: c/o Broadridge Financial Solutions, Inc., 2 Journal Square Plaza, Jersey City, New Jersey, 07306, Attention: Treasurer or at any other address hereafter furnished in writing by the
Obligor to the Trustee. 
 SECTION 1.06. Notice to Holders; Waiver. Where this Indenture or any Note provides for notice to Holders of
any event, such notice shall be sufficiently given (unless otherwise expressly provided herein or in such Note) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at his or her address as it appears 

 
in the Security Register as of the applicable Record Date, if any, not later than the latest date or earlier than the earliest date prescribed by this
Indenture or such Note for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice nor any defect in any notice so mailed to any particular Holder shall affect the sufficiency of such
notice with respect to other Holders. Where this Indenture or any Note provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be
the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. In case, by reason of the suspension of
regular mail service as a result of a strike, work stoppage or otherwise, it shall be impractical to mail notice of any event to any Holder when such notice is required to be given pursuant to any provision of this Indenture or the applicable Note,
then any method of notification as shall be satisfactory to the Trustee and the Obligor shall be deemed to be sufficient for the giving of such notice. 
 SECTION 1.07. Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with another provision hereof which is required to be included in this Indenture by any of the provisions
of the TIA, such required provision shall control. 
 SECTION 1.08. Effect of Headings and Table of Contents. The Article and Section
headings herein and the Table of Contents hereof are for convenience only and shall not affect the construction of any provision of this Indenture. 
 SECTION 1.09. Successors and Assigns. All covenants and agreements in this Indenture by the Obligor shall bind its successors and assigns, whether so expressed or not. 
 SECTION 1.10. Separability Clause. In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 1.11.
Benefits of Indenture. Nothing in this Indenture or in any Notes, express or implied, shall give to any Person, other than the parties hereto, their successors hereunder, the Authenticating Agent, the Registrar, any Paying Agent, and the
Holders of Notes (or such of them as may be affected thereby), any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 SECTION 1.12. Governing Law. This Indenture shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to rules governing the conflict of laws. 
 SECTION 1.13. Counterparts. This instrument may be executed in any number of counterparts, each of which when so executed shall be deemed to be an
original, but all of which shall together constitute but one and the same instrument. 

 SECTION 1.14. Legal Holidays. In any case where any Interest Payment Date or Redemption Date or
Maturity Date shall not be a Business Day, then (notwithstanding any other provisions of this Indenture or of the Notes) payment of interest or principal (and premium, if any) need not be made on such date, but may be made on the next succeeding
Business Day with the same force and effect as if made on the Interest Payment Date, the Redemption Date or Maturity Date, provided that no interest shall accrue for the period from and after such Interest Payment Date, Redemption Date or
Maturity Date, as the case may be. 
 ARTICLE II 
 THE NOTES 
 SECTION 2.01. Form and Dating. 
 (1) General. 
 (i) The Notes of each
series shall be substantially in such form (not inconsistent with this Indenture) as shall be established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions,
omissions, substitutions and other variations as are required or permitted by this Indenture and may have imprinted or otherwise reproduced thereon such legend or legends, not inconsistent with the provisions of this Indenture, as may be required to
comply with any law, stock exchange rule or DTC rule or usage or with any rules or regulations pursuant thereto, all as may, consistently herewith, be determined by the Officers executing such Notes, as evidenced by their execution of the Notes. Any
portion of the text of any Note may be set forth on the reverse thereof, with an appropriate reference thereto on the face of the Note. Each Note shall be dated the date of its authentication. The Obligor shall furnish any such legends to the
Trustee in writing. 
 (ii) The Definitive Notes, if any, shall be printed, lithographed or engraved or produced by any combination of those
methods on steel engraved borders or may be produced in any other manner permitted by any applicable rule of any securities exchange, all as determined by the Officers executing such Notes, as evidenced by their execution of such Notes. 

(iii) The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Indenture and the Obligor and
the Trustee, by their execution and delivery of this Indenture expressly agree to such terms and provisions and to be bound thereby. Nothing in the preceding sentence shall, however, limit the effect of the second paragraph of Section 2.02(1).
However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. All Notes of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to such resolution of the Board of Directors or in any such indenture supplemental hereto. 

 (iv) No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any
purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature of an authorized officer, and such certificate upon any Note shall be conclusive
evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder. 
 (v) The aggregate principal amount of
Notes which may be authenticated and delivered under this Indenture is unlimited. The Notes may be issued in one or more series. There shall be established in or pursuant to a resolution of the Board of Directors and set forth in an Officer’s
Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Notes of any series: 
 (a) the title of
the Notes of the series (which shall distinguish the Notes of the series from all other Notes); 
 (b) any limit upon the aggregate principal
amount of the Notes of the series that may be authenticated and delivered under this Indenture (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes of the series pursuant to
Section 2.03, 2.04, 2.05, 8.07 or any optional redemption provision pursuant to Section 2.01(1)(v)(f)); 
 (c) the date or dates on
which the principal of the Notes of the series is payable; 
 (d) the rate or rates at which the Notes of the series shall bear interest, if
any, or the method by which such rate shall be determined, the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest shall be payable and the Record Dates, if any, for the determination of Holders to
whom interest is payable; 
 (e) the place or places where the principal of and any premium and interest on the Notes of the series shall be
payable; 
 (f) any optional redemption and any change of control put provisions; 
 (g) if other than the principal amount thereof, the portion of the principal amount of Notes of the series which shall be payable upon declaration of
acceleration of the Maturity thereof pursuant to Section 4.02; 
 (h) the issue date; 
 (i) the issue price (expressed as a percentage of the aggregate principal amount of the Notes) at which the Notes will be issued; 
 (j) if the Notes of the series are issuable in whole or in part in the form of Definitive Notes or as one or more Global Notes, and if so, the identity
of the Depositary for such Global Notes if other than DTC; 

 (k) any other terms of the series (which terms shall not be inconsistent with the provisions of this
Indenture); 
 (l) any Events of Default with respect to the Notes of a particular series if not set forth herein; and 
 (m) any covenants of the Obligor with respect to the Notes of a particular series if not set forth herein. 
 Notwithstanding Section 2.01(1)(v)(b) and unless otherwise expressly provided with respect to a series of Notes, the aggregate principal amount of a series of Notes
may be increased and additional Notes of such series may be issued up to the maximum aggregate principal amount authorized with respect to such series as increased; provided that, any such additional Notes shall have identical terms as the
outstanding Notes of such series, other than with respect to the date of issuance, issue price, first Interest Payment Date, interest accrual date and amount of interest payable on the first Interest Payment Date applicable thereto; provided
further, that any such additional Notes shall be treated as a single class with the outstanding Notes of such series for all purposes under this Indenture. 
 (2) Global Notes. 
 (i) If the Obligor shall establish pursuant to Section 2.01(1) above that
the Notes of a series or a portion thereof are to be issued in the form of one or more Global Notes, then the Obligor shall execute and the Trustee shall authenticate and make available for delivery one or more Global Notes that (a) shall
represent and shall be denominated in an amount equal to the aggregate principal amount of all of the Notes of such series issued in such form and not yet cancelled, (b) shall be registered, in the name of the Depositary designated for such
Global Note pursuant to Section 2.04, or in the name of a nominee of such Depositary, (c) shall be deposited with the Trustee, as Custodian for the Depositary, and (d) shall bear a legend substantially as follows (“Global Note
Legend”): 
 THIS IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREINAFTER. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK,
NEW YORK, TO THE OBLIGOR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF
DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

 (ii) Each Depositary designated pursuant to Section 2.01 or 2.04 for a Global Note must, at the time of its designation and at all
times while it serves as Depositary, be a clearing agency registered under the Exchange Act and any other applicable statute or regulation, provided that the Depositary is required to be so registered in order to act as depositary.

 (iii) Any Global Note may be represented by more than one certificate. The aggregate principal amount of each Global Note may from time to
time be increased or decreased by adjustments made on the records of the Registrar, as provided in this Indenture. 
 (3) Trustee’s
Certificate of Authentication. 
 The Trustee’s Certificate of Authentication shall be in substantially the following form:

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

			
	 U.S. BANK NATIONAL ASSOCIATION

	as Trustee
		
	By:	 	  

		 	Authorized Officer

 SECTION 2.02. Execution and Authentication. 
 (1) At any time and from time to time after the execution and delivery of this Indenture, the Obligor may deliver Notes of any series executed on behalf
of the Obligor by any Officer to the Trustee for authentication, and the Trustee, upon receipt of a written order of the Obligor specifying the principal amount and registered Holder of each Note and whether such Note shall be a Definitive Note or a
Global Note, and signed by an Officer (the “Authentication Order”) shall thereupon in accordance with the procedures acceptable to the Trustee set forth in the Authentication Order, and subject to the provisions hereof, authenticate and
deliver such Notes to or upon the written order of the Obligor, without any further action by the Obligor except as set forth in this Section 2.02. The signature of any Officer on the Notes may be manual or facsimile. Typographical and other
minor errors or defects in any such signature shall not affect the validity or enforceability of any Note that has been duly authenticated and delivered by the Trustee. In authenticating such Notes and accepting the additional responsibilities under
this 

 Indenture in relation to such Notes, the Trustee shall receive, and (subject to Section 5.01) shall
be fully protected in relying upon: 
 (a) a copy of the Board Resolution relating to such series; 
 (b) an executed supplemental indenture, if any, and the documentation required to be delivered pursuant to Section 8.06; 
 (c) an Officer’s Certificate setting forth the form or forms and terms of the Notes of such series pursuant to Section 2.01(1)(v), and prepared
in accordance with Section 1.02; 
 (d) an Opinion of Counsel, prepared in accordance with Section 1.02. 
 (2) Notes bearing the manual or facsimile signatures of individuals who were at any time on or after the date hereof the proper officers of the Obligor
shall bind the Obligor, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. 
 (3) The Notes shall be in fully registered form, without coupons, in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof.

 SECTION 2.03. Temporary Notes. Until certificates representing Notes of a series are ready for delivery, the Obligor may prepare
and the Trustee, upon receipt of an Authentication Order, shall authenticate and deliver temporary Notes of such series. Temporary Notes shall be substantially in the form of certificated Notes but may have variations that the Obligor considers
appropriate for temporary Notes and as shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Obligor shall prepare and the Trustee shall authenticate Definitive Notes of a series in exchange for temporary Notes of such
series. Holders of temporary Notes shall be entitled to all of the benefits of this Indenture. 
 SECTION 2.04. Registration, Transfer and
Exchange. 
 (1) Securities Register. The Trustee shall keep a register of the Notes (the “Security Register”) which
shall provide for the registration of such Notes, and for transfers of such Notes in accordance with information, if any, to be provided to the Trustee by the Obligor, subject to such reasonable regulations as the Trustee may prescribe. Such
register shall be in written form or in any other form capable of being converted into written form within a reasonable time. At all reasonable times the information contained in such register or registers shall be available for inspection at the
Corporate Trust Office of the Trustee or at such other office or agency to be maintained by the Obligor pursuant to Section 9.02. 
 Upon due presentation for registration of transfer of any Note at the Corporate Trust Office of the Trustee or at any other office or agency maintained by the Obligor pursuant to Section 9.02, the Obligor shall execute, and the Trustee
shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes of authorized denominations, of a like aggregate principal amount, series and Maturity Date. 

 (2) Transfer of Global Notes. Any other provision of this Section 2.04 notwithstanding,
unless and until it is exchanged in whole or in part for Definitive Notes, a Global Note representing all or a portion of the Notes of a series may not be transferred except as a whole by the Depositary to a nominee of such Depositary, or by a
nominee of such Depositary to such Depositary or another nominee of such Depositary, or by such Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 
 The Obligor initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the Global Notes of each series.

 (3) Legends. 
 Each
Global Note shall bear the legend specified in clause (i) of Section 2.01(2) on the face thereof. 
 (4) Definitive Notes.

 (i) Notwithstanding any other provisions of this Indenture or the Notes, a Global Note may be exchanged for Notes of the same series
registered in the names of any Person designated by the Depositary in the event that (a) the Depositary has notified the Obligor that it is unwilling or unable to continue as Depositary for such Global Note or such Depositary has ceased to be a
“clearing agency” registered under the Exchange Act, at a time when the Depositary is required to be so registered in order to act as depositary, and the Obligor has not appointed a successor Depositary within 90 days of receiving
such notice or of becoming aware of such cessation, (b) an Event of Default has occurred and is continuing with respect to the applicable Notes, or (c) the Obligor, in its sole discretion, determines that the applicable Notes issued in the
form of Global Notes shall no longer be represented by such Global Notes as evidenced by a Company Order delivered to the Trustee. Any Global Note exchanged pursuant to clause (a) or (c) above shall be so exchanged in whole and not in
part and any Global Note exchanged pursuant to clause (b) above may be exchanged in whole or from time to time in part as directed by the Depositary. Any Note issued in exchange for a Global Note of the same series or any portion thereof
shall be a Global Note, provided that any such Note so issued that is registered in the name of a Person other than the Depositary or a nominee thereof shall not be a Global Note. 
 (ii) If at any time the Depositary for the Notes of any series notifies the Obligor that it is unwilling or unable to continue as Depositary for such
Notes or if the Depositary has ceased to be a “clearing agency” registered under the Exchange Act at a time when the Depositary is required to be so registered in order to act as depositary, the Obligor may within 90 days of receiving
such notice or of becoming aware of such cessation appoint a successor Depositary with respect to such Notes. 

 (iii) If, in accordance with this Section 2.04(4), Notes of any series in global form will no longer
be represented by Global Notes, the Obligor will execute, and the Trustee, upon receipt of an Authentication Order, will authenticate and make available for delivery, Definitive Notes of such series in an aggregate principal amount equal to the
principal amount of the Global Notes of such series, in exchange for such Global Notes. 
 (iv) If a Definitive Note is issued in exchange
for any portion of a Global Note after the close of business at the office or agency where such exchange occurs on any Record Date for the payment of interest and before the opening of business at such office or agency on the next succeeding
Interest Payment Date, interest shall not be payable on such Interest Payment Date in respect of such Definitive Notes, but shall be payable on such Interest Payment Date only to the Person to whom interest in respect of such portion of such Global
Note is payable in accordance with the provisions of this Indenture. 
 (v) Definitive Notes issued in exchange for a Global Note pursuant to
this Section 2.04(4) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. Upon execution and
authentication, the Trustee shall deliver such Definitive Notes to the Persons in whose names such Notes are so registered. To permit registrations of transfers and exchanges, the Obligor shall execute and the Trustee (or an Authenticating Agent
appointed pursuant to this Indenture) shall authenticate and make available for delivery Definitive Notes at the Registrar’s request, and upon direction of the Obligor. No service charge shall be made for any registration of transfer or
exchange, but the Obligor or the Trustee may require payment of a sum sufficient to cover any transfer tax or other governmental charge payable in connection with any registration of transfer or exchange. 
 (vi) When Definitive Notes are presented to the Trustee with a request to register the transfer of such Definitive Notes or to exchange such Definitive
Notes for an equal principal amount of Definitive Notes of other authorized denominations of the same series, the Trustee shall register the transfer or make the exchange as requested if its requirements for such transaction are met;
provided, however, that the Definitive Notes surrendered for transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Obligor and the Trustee, duly executed
by the Holder thereof or his attorney duly authorized in writing. 
 (vii) At such time as all interests in Global Notes of any series have
either been exchanged for Definitive Notes of such series or cancelled, such Global Notes shall be cancelled by the Trustee in accordance with the standing procedures and instructions existing between the Depositary and the Custodian. At any time
prior to such cancellation, if any interest in a Global Note of any series is exchanged for Definitive Notes of such series or cancelled, the principal amount of such Global Note shall, in accordance with the standing procedures and instructions
existing between the Depositary and the Custodian, be reduced and an endorsement shall be made on such Global Note, by the Trustee or the Custodian, at the direction of the Trustee, to reflect such reduction. 

 (5) Notwithstanding anything in this Indenture to the contrary, (i) all Notes issued upon any
registration of transfer or exchange of Notes shall be the valid obligations of the Obligor, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or exchange,
(ii) all transfers and exchanges of the Notes may be made only in accordance with the procedures set forth in this Indenture, and (iii) the transfer and exchange of a beneficial interest in a Global Note may only be effected through the
Depositary in accordance with the procedures promulgated by the Depositary. 
 (6) The Obligor shall not be required to (i) issue,
register the transfer of, or exchange any Note during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of Notes under any optional redemption provision pursuant to
Section 2.01(1)(v)(f) and ending at the close of business on the date of such mailing or (ii) register the transfer of or exchange any Note so selected for redemption in whole or in part, except, in the case of any Note to be redeemed in
part, the portion thereof not to be redeemed. 
 SECTION 2.05. Mutilated, Destroyed, Lost and Stolen Notes. 
 (1) If (i) any mutilated Note is surrendered to the Trustee, or the Obligor and the Trustee receive evidence to their satisfaction of the
destruction, loss or theft of any Note and (ii) there is delivered to the Obligor and the Trustee such security or indemnity as may be required by them to save each of them harmless from any loss, liability or expense that they may suffer if
such Note is replaced and subsequently presented or otherwise claimed for payment, then, in the absence of notice to the Obligor or the Trustee that such Note has been acquired by a protected purchaser, the Obligor may in its discretion execute and,
upon request of the Obligor, the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Note, a new Note of like tenor, series, Maturity Date, and principal amount, bearing a number not
contemporaneously outstanding. 
 (2) In case any such mutilated, destroyed, lost or stolen Note has become or is about to become due and
payable, the Obligor in its discretion may, instead of issuing a new Note, pay such Note. 
 (3) Upon the issuance of any new Note under this
Section 2.05, the Obligor may require the payment by the Holder thereof of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the
Trustee) connected therewith. 
 (4) Every new Note issued pursuant to this Section 2.05 in lieu of any mutilated, destroyed, lost or
stolen Note shall constitute an original contractual obligation of the Obligor, whether or not the mutilated, destroyed, lost or stolen Note shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture
equally and proportionately with any and all other Notes duly issued hereunder. 

 (5) The provisions of this Section 2.05 are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 
 SECTION 2.06.
Payment of Interest; Interest Rights Preserved. 
 (1) Interest on any Note which is payable and is punctually paid or duly provided
for on any Interest Payment Date shall, if so provided in such Note, be paid to the Person in whose name that Note (or one or more Predecessor Notes) is registered at the close of business on the applicable Record Date, notwithstanding any transfer
or exchange of such Note subsequent to such Record Date and prior to such Interest Payment Date (unless, if so provided in such Note, such Interest Payment Date is also the Maturity Date, in which case such interest shall be payable to the Person to
whom principal is payable). 
 (2) Any interest on any Note which is payable, but is not punctually paid or duly provided for, on any
Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered Holder on the applicable Record Date by virtue of his having been such Holder; and, except as hereinafter provided, such
Defaulted Interest may be paid by the Obligor, at its election in each case, as provided in clause (i) or (ii) below: 
 (i) The
Obligor may elect to make payment of any Defaulted Interest to the Persons in whose names any such Notes (or their respective Predecessor Notes) are registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest, which shall be fixed in the following manner. The Obligor shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Note and the date of the proposed payment, and at the same time the Obligor
shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest
which shall be not more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Obligor
of such Special Record Date and, in the name and at the expense of the Obligor, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holder of
each such Note at his address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as
aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Notes (or their respective Predecessor Notes) are registered on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).

 (ii) The Obligor may make payment of any Defaulted Interest in any other lawful manner if, after notice given by the Obligor to the
Trustee of the proposed payment pursuant to this clause (ii), such manner of payment shall be deemed practicable by the Trustee. 

 (3) If any installment of interest on any Note called for redemption pursuant to any optional redemption
provision under Section 2.01(1)(v)(f) is due and payable on or prior to the Redemption Date and is not paid or duly provided for on or prior to the Redemption Date in accordance with the foregoing provisions of this Section 2.06, such
interest shall be payable as part of the Redemption Price of such Notes. 
 (4) Interest on Notes may be paid at the office or agency
maintained by the Obligor in New York City pursuant to Section 9.02 or, at the Obligor’s option, through DTC, Clearstream Banking, société anonyme, or Euroclear System to the Person entitled thereto or by such other means as
may be specified in the form of such Note. 
 (5) Subject to the foregoing provisions of this Section 2.06 and the provisions of
Section 2.04, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.

 SECTION 2.07. Persons Deemed Owners. 
 (1) Prior to due presentment of a Note for registration of transfer, the Obligor, the Trustee, and any agent of the Obligor or the Trustee may treat the Person in whose name any Note is registered on the Security
Register as the owner of such Note for the purpose of receiving payment of principal, premium, if any, and (subject to Section 2.06) interest, and for all other purposes whatsoever, whether or not such Note is overdue and neither the Obligor,
the Trustee, nor any agent of the Obligor or the Trustee shall be affected by notice to the contrary. 
 (2) None of the Obligor, the
Trustee, any Authenticating Agent, any Paying Agent, the Registrar or any Co-Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Note
or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests and each of them may act or refrain from acting without liability on any information relating to such records provided by the Depositary.

 SECTION 2.08. Cancellation. All Notes surrendered for payment, redemption, registration of transfer or exchange shall, if
surrendered to any Person other than the Trustee, be delivered to the Trustee and, if not already cancelled, shall be promptly cancelled by it. The Obligor may at any time deliver to the Trustee for cancellation any Notes previously authenticated
and delivered hereunder which the Obligor may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly cancelled by the Trustee. Acquisition of such Notes by the Obligor shall not operate as a redemption or satisfaction
of the indebtedness represented by such Notes unless and until the same are delivered to the Trustee for cancellation. No Note shall be authenticated in lieu of or in exchange for any Notes cancelled as provided in this Section 2.08, except as

 expressly permitted by this Indenture. The Trustee shall dispose of all cancelled Notes in accordance with its customary
procedures and, upon written request, deliver a certificate of such disposition to the Obligor. 
 SECTION 2.09. Computation of
Interest. Interest on the Notes shall be calculated on the basis of a 360-day year of twelve 30-day months. 
 SECTION 2.10. CUSIP
Numbers. The Obligor in issuing the Notes may use “CUSIP” and “ISIN” numbers (if then generally in use), and, if so, the Trustee shall use the CUSIP or ISIN numbers, as the case may be, in notices of redemption as a
convenience to Holders; provided that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP or ISIN number, as the case may be, either as printed on the Notes or as contained in any notice of
a redemption and that reliance may be placed only on the other identification numbers printed on the Notes. The Obligor will promptly notify the Trustee in writing of any change in the CUSIP or ISIN number. 
 ARTICLE III 
 DISCHARGE OF INDENTURE

 SECTION 3.01. Discharge of Indenture. This Indenture will be discharged with respect to the Notes of a series and will cease to be
of further effect as to all such Notes (except as to any surviving rights of transfer or exchange of such Notes expressly provided for herein), and the Trustee, on demand of and at the expense of the Obligor, shall execute proper instruments
acknowledging the discharge of this Indenture with respect to the Notes of such series, when 
 (1) either 
 (i) all Notes of such series theretofore authenticated and delivered (except (i) mutilated, lost, stolen or destroyed Notes which have been replaced
or paid, as provided in Section 2.05 and (ii) Notes of such series for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Obligor and thereafter repaid to the Obligor or discharged from such
trust, as provided in Section 3.05) have been delivered by the Obligor to the Trustee cancelled or for cancellation; or 
 (ii) all such
Notes of such series not theretofore delivered to the Trustee cancelled or for cancellation: 
 (a) have become due and payable, or

 (b) will, in accordance with their Maturity Date, become due and payable within one year, or 
 (c) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee
in the name, and at the expense, of the Obligor, and, in any of the cases described in (a) or 

 
(b) above or in this clause (c), the Obligor has irrevocably deposited or caused to be deposited with the Trustee, as trust funds in trust for the
benefit of the Holders of such Notes for that purpose, U.S. dollars or non-callable U.S. Government Obligations or a combination thereof in such amounts sufficient to pay and discharge the entire indebtedness on the Notes of such series not
theretofore delivered to the Trustee cancelled or for cancellation, for principal of and interest and premium, if any, on the Notes of such series to the date of such deposit (in the case of Notes of such series that have become due and payable), or
to the Maturity Date or the Redemption Date, as the case may be; 
 (2) the Obligor has paid or caused to be paid all other sums payable by
it with respect to the Notes of such series under this Indenture; 
 (3) in the event of a deposit and defeasance under
Section 3.01(1)(ii), no Event of Default or event which with notice or lapse of time would become an Event of Default has occurred and is continuing with respect to the Notes of such series on the date of such deposit; and 
 (4) the Obligor has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel each stating that all conditions precedent to the
discharge of this Indenture with respect to the Notes of such series have been complied with. 
 Notwithstanding the discharge of this
Indenture with respect to the Notes of such series, the obligations of the Obligor under Section 3.01(1) and the obligations of the Obligor to the Trustee under Section 5.07 and to any Authenticating Agent under Section 5.14 shall
survive, and the obligations of the Trustee under Sections 3.03 and 3.05 shall survive. 
 SECTION 3.02. Defeasance and Discharge of
Covenants upon Deposit of Moneys, U.S. Government Obligations. At the Obligor’s option, either (a) the Obligor shall be deemed to have been Discharged (as defined below) from its obligations with respect to the Notes of any series
(“Legal Defeasance”) and/or (b) the Obligor shall cease to be under any obligation to comply with any term, provision or condition set forth in Sections 4.01 (3), 4.01 (7), 9.05, 9.06 and 9.07 (and any other Sections,
covenants or Events of Default applicable to such Notes that are determined pursuant to Section 2.01 to be subject to this provision) with respect to the Notes of such series at any time after the applicable conditions set forth below have been
satisfied (“Covenant Defeasance”): 
 (1) The Obligor shall have deposited or caused to be deposited irrevocably with the Trustee,
as trust funds, in trust, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of the Notes of such series, an amount of money, in cash in U.S. dollars sufficient, or in non-callable U.S. Government Obligations,
the principal of and interest on which, when due, will be sufficient, or a combination thereof, sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee, to pay and discharge the entire indebtedness on the Notes of such series with respect to principal, premium, if any, and accrued and unpaid interest to the date of such deposit (in the case of Notes of any series that have become due
and payable), or to the Maturity Date or Redemption Date, as the case may be; 

 (2) No Event of Default, or event which with notice or lapse of time would become an Event of Default
with respect to the Notes of such series, shall have occurred and be continuing on the date of such deposit or, with respect to an Event of Default described in Section 4.04(6), at any time in the period ending on the 91st day after the date of
deposit; 
 (3) The Obligor shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel each stating that all
conditions precedent to the defeasance and discharge contemplated by this Section 3.02 have been complied with, and: 
 (i) in the case
of an Opinion of Counsel relating to a Legal Defeasance, stating that: 
 (A) the Obligor has received from the Internal Revenue Service a
ruling, or 
 (B) since the date hereof there has been a change in the applicable Federal income tax law, to the effect, in either case, that
and based thereon such Opinion of Counsel shall confirm that the holders of the Notes will not recognize income, gain or loss for Federal income tax purposes as a result of such defeasance and will be subject to Federal income tax on the same
amounts, in the same manner and at the same time as would have been the case if such defeasance has not occurred; 
 (ii) in the case of an
Opinion of Counsel relating to a Covenant Defeasance, stating that the deposit and defeasance contemplated by this Section 3.02 will not cause the Holders of the Notes of such series to recognize income, gain or loss for Federal income tax
purposes as a result of the Obligor’s exercise of its option under this Section 3.02 and such Holders will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such
option had not been exercised, which Opinion of Counsel (in the case of a Legal Defeasance) must be based upon a ruling of the Internal Revenue Service to the same effect or a change in applicable Federal income tax law or related treasury
regulations after the date of this Indenture. 
 If in connection with the exercise by the Obligor of any option under this
Section 3.02, any series of Notes is to be redeemed, either notice of such redemption shall have been duly given pursuant to any redemption provision adopted under Section 2.01 of this Indenture or provision therefor satisfactory to the
Trustee shall have been made. 
 If the Obligor exercises its option under Section 3.02(a), payment of the Notes may not be accelerated
because of an Event of Default with respect thereto. If the Obligor exercises its option under Section 3.02(b), payment of the Notes may not be accelerated because of an Event of Default specified in Sections 4.01(2) and (7) with
respect to Articles VII or IX. 

 Notwithstanding the exercise by the Obligor of its option under Section 3.02(b) with respect to
Section 7.01, the obligation of any successor entity to assume the obligations to the Trustee under Section 5.07 shall not be discharged. 
 “Discharged” means, as to any series of Notes, that the Obligor shall be deemed to have paid and discharged the entire indebtedness represented by, and obligations under, the Notes of such series and to have satisfied all the
obligations under this Indenture relating to such series of Notes (and the Trustee, at the expense of the Obligor, shall execute proper instruments acknowledging the same), except (A) the rights of Holders of Notes of such series to receive,
from the trust fund described in clause (1) above, payment of the principal of, premium, if any, and the interest, if any, on such series of Notes when such payments are due; (B) the Obligor’s obligations with respect to such
Notes under Sections 2.04, 2.05, 3.02(1), 3.03, and 9.02 and its obligations under Section 5.07; and (C) the rights, powers, trusts, duties and immunities of the Trustee hereunder. 
 SECTION 3.03. Application of Trust Money. All money and U.S. Government Obligations deposited with the Trustee pursuant to Section 3.01 or
Section 3.02 and all proceeds of such U.S. Government Obligations and the interest thereon shall be held in trust and applied by it, in accordance with the provisions of this Indenture, to the payment, either directly or through any Paying
Agent (including the Obligor acting as its own Paying Agent), as the Trustee may determine, to the Persons entitled thereto, of the principal, premium, if any, and interest, for whose payment such money and U.S. Government Obligations have been
deposited with the Trustee; but such money and U.S. Government Obligations need not be segregated from other funds except to the extent required by law. 
 SECTION 3.04. Paying Agent to Repay Moneys Held. Upon the discharge of this Indenture or a Legal Defeasance, in each case, with respect to the Notes of a series, all moneys then held by any Paying Agent under
the provisions of this Indenture with respect to such Notes (other than the Trustee) shall, upon demand of the Obligor, be repaid to it or paid to the Trustee, and thereupon such Paying Agent shall be released from all further liability with respect
to such moneys. 
 SECTION 3.05. Return of Unclaimed Amounts. Any amounts deposited with or paid to the Trustee or any Paying Agent
for payment of the principal of, premium, if any, or interest on any series of Notes or then held by the Obligor, in trust for the payment of the principal of, premium, if any, or interest on any series of Notes and not applied but remaining
unclaimed by the Holders of such series of Notes for two years after the date upon which the principal of, premium, if any, or interest on such series of Notes, as the case may be, shall have become due and payable, shall be repaid to the Obligor by
the Trustee on demand or (if then held by the Obligor) shall be discharged from such Trust; and the Holder of any Notes of such series shall thereafter, as an unsecured general creditor, look only to the Obligor for any payment which such Holder may
be entitled to collect (until such time as such unclaimed amounts shall escheat, if at all, to any applicable jurisdiction) and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Obligor as
trustee thereof, shall thereupon 

 
cease. Notwithstanding the foregoing, the Trustee or Paying Agent, before being required to make any such repayment, may at the expense of the Obligor cause
to be published once a week for two successive weeks (in each case on any day of the week) in a newspaper printed in the English language and customarily published at least once a day at least five days in each calendar week and of general
circulation in the Borough of Manhattan, in the City and State of New York, a notice that said amounts have not been so applied and that after a date named therein any unclaimed balance of said amounts then remaining will be promptly returned to the
Obligor. 
 SECTION 3.06. Reinstatement. If the Trustee or any Paying Agent is unable to apply any money in accordance with
Section 3.03 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Obligor’s obligations under this
Indenture and the Holders of Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 3.01 until such time as the Trustee or such Paying Agent is permitted to apply all such money in accordance with
Section 3.03. 
 ARTICLE IV 
 REMEDIES 
 SECTION 4.01. Events of Default. “Event of Default,” wherever used herein, means with respect to Notes
of any series, any of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order,
rule or regulation of any administrative or governmental body): 
 (1) default in the payment of any principal of or premium, if any, on the
Notes of such series when due (whether at maturity, upon optional redemption or otherwise); 
 (2) default in the payment of any interest on
any Note of such series, when it becomes due and payable, and continuance of such default for a period of 30 days; 
 (3) default in the
performance, or breach, of any covenant, warranty or agreement (other than a default or breach under Section 7.01) of the Obligor under this Indenture in respect of the Notes of such series, and continuance of such default or breach for a
period of 60 days after a Notice of Default is given to the Obligor; 
 (4) a default in the performance, or breach, of the
Obligor’s obligations under Section 7.01; 
 (5) the entry of an order for relief against the Obligor under the Bankruptcy Code by
a court having jurisdiction in the premises or a decree or order by a court having jurisdiction in the premises adjudging the Obligor as bankrupt or insolvent under any other applicable Federal or state law, or the entry of a decree or order
approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Obligor under the Bankruptcy Code or any other applicable Federal or state law, or appointing a receiver, liquidator,
assignee, trustee, sequestrator (or other similar official) of the Obligor or of any substantial part of their respective properties, or ordering the winding up or liquidation of their respective affairs, and the continuance of any such decree or
order unstayed and in effect for a period of 90 consecutive days; 

 (6) the consent by the Obligor to the institution of bankruptcy or insolvency proceedings against any of
them, or the filing by the Obligor of a petition or answer or consent seeking reorganization or relief under the Bankruptcy Code or any other applicable Federal or state law, or the consent by the Obligor to the filing of any such petition or to the
appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Obligor or of any substantial part of their respective properties, or the making by the Obligor of an assignment for the benefit of creditors,
or the admission by the Obligor in writing of the Obligor’s inability to pay debts generally as they become due, or the taking of corporate action by the Obligor in furtherance of any such action; and 
 (7) (a) a failure to make any payment at maturity, including any applicable grace period, on any Indebtedness of the Obligor (other than
Indebtedness of the Obligor owing to any of its Subsidiaries) outstanding in an amount in excess of $75 million or its foreign currency equivalent at the time and continuance of this failure to pay or (b) a default on any indebtedness of the
Obligor (other than Indebtedness owing to any of its Subsidiaries), which default results in the acceleration of such Indebtedness in an amount in excess of $75 million or its foreign currency equivalent at the time without such Indebtedness having
been discharged or the acceleration having been cured, waived, rescinded or annulled, in the case of clause (a) or (b) above; provided, however, that if any failure, default or acceleration referred to in clauses 7(a) or (b) ceases or
is cured, waived, rescinded or annulled, then the event of default under the Indenture will be deemed cured. 
 A default under clauses
(3) above is not an Event of Default until the Trustee or the holders of not less than 25% in aggregate principal amount of the Notes of such series then outstanding notify the Obligor of the default and the Obligor does not cure such default
within the time specified after receipt of such notice. Such notice must specify the default, demand that it be remedied and state that such notice is a “Notice of Default.” 
 The Obligor shall deliver to the Trustee, within 30 days after the occurrence thereof, written notice in the form of an Officer’s Certificate
of any event that with the giving of notice or the lapse of time or both would become an Event of Default, its status and what action the Obligor is taking or proposes to take with respect thereto. Upon becoming aware of any default or Event of
Default, the Obligor is required to deliver to the Trustee a statement specifying such default or Event of Default. 
 No Event of Default
with respect to a single series of Notes issued hereunder (and under or pursuant to any Supplemental Indenture or Board Resolution) necessarily constitutes an Event of Default with respect to any other series of Notes. 

 SECTION 4.02. Acceleration of Maturity; Rescission and Annulment. 
 (1) If any Event of Default (other than an Event of Default specified in clause (5) or (6) of Section 4.01) with respect to the Notes
of any series occurs and is continuing, then either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Notes of such series may declare the principal of all Outstanding Notes of such series, and the
interest to the date of acceleration, if any, accrued thereon, to be immediately due and payable by notice in writing to the Obligor (and to the Trustee if given by Holders) specifying the event of default. If an Event of Default described in
clause (4) or (6) of Section 4.01 occurs, then the principal amount of all the Notes then outstanding and interest accrued thereon, if any, will become and be immediately due and payable without any declaration or other act on
the part of the Trustee or the Holders of the Notes, to the full extent permitted by applicable law. 
 (2) At any time after such a
declaration of acceleration has been made with respect to the Notes of any series and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article IV provided, the Holders of a
majority in aggregate principal amount of the Outstanding Notes of such series by written notice to the Obligor and the Trustee, may rescind and annul such declaration or waive past defaults and their consequences, except with respect to a default
in respect of a covenant or provision of this Indenture which cannot be modified or amended without the consent of the Holder of each Outstanding Note affected thereby, if: 
 (i) the Obligor has paid or deposited with the Trustee a sum sufficient to pay: 
 (a) all overdue installments of interest, if any, on such series of Notes, 
 (b) the principal of (and premium, if any, on) any such series of Notes which have become due otherwise than by such declaration of acceleration, and interest thereon at the rate prescribed therefor by the Notes of
such series, to the extent that payment of such interest is lawful, 
 (c) interest on overdue installments of interest at the rate
prescribed therefor by the Notes of such series to the extent that payment of such interest is lawful, and 
 (d) the reasonable
compensation, expenses, disbursements and advances of the Trustee and its agents and counsel, and all other amounts due the Trustee under Section 5.07; and 
 (ii) all Events of Default, other than the nonpayment of the principal, premium or interest of the Notes of such series which have become due solely by such acceleration, have been cured or waived as provided in
Section 4.13. 
 (3) No such rescission shall affect any subsequent default or impair any right consequent thereon. 

 SECTION 4.03. Collection of Indebtedness and Suits for Enforcement. 
 (1) The Obligor covenants that if: 
 (i)
default is made in the payment of any installment of interest on any Note of any series when such interest becomes due and payable, or 
 (ii) default is made in the payment of (or premium, if any, on) the principal of any Note of any series at the Maturity thereof, and 
 (iii) any such default continues for any period of grace provided in relation to such default pursuant to Section 4.01, then, with respect to such series of Notes, the Obligor will, upon demand of the Trustee, pay to it, for the
benefit of the Holders of the Notes of such series, the whole amount then due and payable on all Notes of such series for principal (and premium, if any) and interest, together with interest (to the extent that payment of such interest shall be
legally enforceable) upon the overdue principal (and premium, if any) and upon overdue installments of interest at the rate of interest prescribed therefor by the Notes of such series; and, in addition thereto, such further amount as shall be
sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and all other amounts due the Trustee under Section 5.07. 

(2) If the Obligor fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may
institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Obligor or any other obligor upon such Notes and collect the money
adjudged or decreed to be payable in the manner provided by law out of the property of the Obligor or any other obligor upon such Notes, wherever situated. 
 (3) If an Event of Default occurs and is continuing with respect to any series of Notes, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of such series of
Notes by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any
power granted herein, or to enforce any other proper remedy. 
 SECTION 4.04. Trustee May File Proofs of Claim. 
 (1) In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition, or other
judicial proceeding relative to the Obligor or any obligor upon the Notes or the property of the Obligor or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Notes shall then be due and payable as
therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Obligor for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceedings
or otherwise, 

 (i) to file and prove a claim for the whole amount of principal, premium, if any, and interest owing and
unpaid in respect of the Notes, and to file such other papers or documents as may be necessary and advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements, and advances of
the Trustee, its agents and counsel, and all other amounts due the Trustee under Section 5.07) and of the Holders allowed in such judicial proceedings, and 
 (ii) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any receiver, assignee, trustee, liquidator, sequestrator (or other similar official)
in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to
it for the reasonable compensation, expenses, disbursements and advances of the Trustee and its agent and counsel, and any other amounts due the Trustee under Section 5.07. 
 (2) Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 SECTION 4.05. Trustee May Enforce Claims Without Possession of Notes. All rights of action and claims under this Indenture or the Notes of any
series may be prosecuted and enforced by the Trustee without the possession of any of the Notes of such series or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its
own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee and its agents and counsel, be for the ratable benefit
of the Holders of the Notes of such series. 
 SECTION 4.06. Application of Money Collected. Any money collected by the Trustee from
the Obligor pursuant to this Article IV shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal, premium, if any, or interest, if any, upon
presentation of the Notes of any series and the notation thereon of the payment, if only partially paid, and upon surrender thereof, if fully paid: 
 First: To the payment of all amounts due the Trustee under Section 5.07. 
 Second: To the payment of the amounts then due and
unpaid upon such series of Notes for principal, premium, if any, and interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind. 
 Third: To the Obligor. 

 SECTION 4.07. Limitation on Suits. No Holder of any Note of any series may institute any action
under this Indenture, unless and until: 
 (1) such Holder has given the Trustee written notice of a continuing Event of Default with respect
to the Notes of such series; 
 (2) the Holders of at least 25% in aggregate principal amount of the Outstanding Notes of such series have
made a written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (3) such Holder or Holders has or have offered the Trustee such reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; 
 (4) the Trustee has failed to institute any such proceeding for 60 days after its receipt of such notice, request and offer of indemnity; and

 (5) no inconsistent direction has been given to the Trustee during such 60-day period by the Holders of a majority in aggregate principal
amount of the Outstanding Notes of such series; 
 it being understood and intended that no one or more Holders of Notes of any series shall have any right
in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Notes of such series, or to obtain or to seek to obtain priority or preference over any other
such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and proportionate benefit of all the Holders of all Notes of such series. 
 SECTION 4.08. Unconditional Right of Holders to Receive Payment of Principal, Premium and Interest. Notwithstanding any other provision in this
Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal, premium, if any, and (subject to Section 2.06) interest on such Note on or after the Maturity Date (or, in the
case of redemption, on or after the Redemption Date) and to institute suit for the enforcement of any such payment on or after such respective date, and such right shall not be impaired or affected without the consent of such Holder. 
 SECTION 4.09. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under
this Indenture and such proceeding has been discontinued or abandoned for any reason, then and in every such case the Obligor, the Trustee and the Holders shall, subject to any determination in such proceeding, be restored severally and respectively
to their former positions hereunder, and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 
 SECTION 4.10. Rights and Remedies Cumulative. Except as provided in Section 2.05(5), no right or remedy herein conferred upon or reserved to
the Trustee or to 

 
the Holders is intended to be exclusive of any other right or remedy, and every right or remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy. 
 SECTION 4.11. Delay or Omission Not Waiver. No delay or omission of the
Trustee or of any Holder of any Note to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy
given by this Article IV or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 SECTION 4.12. Control by Holders. The Holders of not less than a majority in aggregate principal amount of the Outstanding Notes of any series
shall have the right to direct the time, method, and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee with respect to the Notes of such series provided that:

 (1) the Trustee is offered reasonable indemnity against any loss, liability or expense; 
 (2) the Trustee shall have the right to decline to follow any such direction if the Trustee, being advised by counsel, determines that the action so
directed may not lawfully be taken or would conflict with this Indenture or if the Trustee in good faith shall, by a Responsible Officer, determine that the proceedings so directed would involve it in personal liability or be unjustly prejudicial to
the Holders not taking part in such direction, and 
 (3) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction. 
 SECTION 4.13. Waiver of Past Defaults. Subject to Section 4.02, the Holders of not less than
a majority in aggregate principal amount of the Outstanding Notes of any series may, on behalf of the Holders of all Notes of such series, waive any past default hereunder with respect to the Notes of such series, except a default not theretofore
cured: 
 (1) in the payment of principal, premium, if any, or interest on any Notes of such series, or 
 (2) in respect of a covenant or provision in this Indenture which, under Article VIII, cannot be modified without the consent of the Holder of each
Outstanding Note of such series. 
 Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall
be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

 SECTION 4.14. Undertaking for Costs. All parties to this Indenture agree, and each Holder of any
Note by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or
omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party
litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section 4.14 shall not apply to any suit instituted by the Trustee, to any suit instituted
by any Holder or group of Holders holding in the aggregate more than 10% in principal amount of the Outstanding Notes of any series to which the suit relates, or to any suit instituted by any Holder pursuant to Section 4.08. 
 SECTION 4.15. Waiver of Stay or Extension Laws. The Obligor covenants (to the extent that it may lawfully do so) that it will not at any time
insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law (other than any bankruptcy law) wherever enacted, now or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and the Obligor (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein
granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE V

 THE TRUSTEE 
 SECTION 5.01.
Certain Duties and Responsibilities of Trustee. 
 (1) Except during the continuance of an Event of Default with respect to a series
of Notes: 
 (i) the Trustee undertakes to perform such duties and only such duties with respect to such series of Notes as are specifically
set forth in this Indenture, and no implied covenants or obligations with respect to such series of Notes shall be read into this Indenture against the Trustee; and 
 (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the
Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine
the same to determine whether or not they conform to the requirements of this Indenture. 

 (2) In case an Event of Default with respect to a series of Notes has occurred and is continuing, the
Trustee shall exercise such of the rights and powers vested in it by this Indenture with respect to such series of Notes and any indenture supplemental hereto relating to such series of Notes, and use the same degree of care and skill in their
exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 (3) No provision of
this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (i) this Subsection shall not be construed to limit the effect of Section 5.01(1); 
 (ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee
was negligent in ascertaining the pertinent facts; 
 (iii) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of not less than a majority in aggregate principal amount of the Outstanding Notes of any series relating to the time, method, and place of conducting any proceeding for any
remedy available to the Trustee with respect to such series of Notes, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to such series of Notes; and 
 (iv) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial loss, expense or liability
in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not
reasonably assured to it. 
 (4) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or
affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 5.01. 
 SECTION
5.02. Notice of Defaults. Within 90 days after the occurrence of any default hereunder with respect to any series of Notes, the Trustee shall transmit by mail to all Holders of Notes of such series, as their names and addresses appear in
the Security Register, notice of such default hereunder known to the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of or interest
or premium, if any, on any Note of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors, and/or Responsible Officers of the Trustee
determine in good faith that the withholding of such notice is in the interests of the Holders of the Outstanding Notes of such series and; provided further, that, in the case of any default of the character specified in
clause (3) of Section 4.01, no such notice to Holders of Notes of such series shall be given until at least 60 days after 

 
the occurrence thereof. For the purpose of this Section 5.02, the term “default” means any event which is, or after notice or lapse of time or
both would become, an Event of Default. 
 SECTION 5.03. Certain Rights of Trustee. Except as otherwise provided in Section 5.01:

 (1) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (2) any request or direction of the Obligor described herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of
the Board of Directors may be sufficiently evidenced by a Board Resolution; 
 (3) whenever in the administration of this Indenture the
Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part,
rely upon an Officer’s Certificate; 
 (4) the Trustee may consult with counsel of its selection and any Opinion of Counsel shall be
full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
 (5) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders
shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 
 (6) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument,
opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the
Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Obligor, personally or by agent or attorney; 
 (7) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys
and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 
 (8) the permissive rights of the Trustee enumerated herein shall not be construed as duties. 

 (9) the Trustee shall not be responsible or liable for special, indirect or consequential loss or damage
of any kind whatsoever (including, but not limited to, loss or profit irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action; 
 (10) the Trustee shall not be required to give any note, bond, or surety in respect of the execution of the trusts and powers under this Indenture; and

 (11) the Trustee shall not be responsible or liable for any failure or delay in the performance of its obligations under this Indenture
arising out of or caused, directly or indirectly, by circumstances beyond its control, including, without limitation, acts of God; earthquakes; fire; flood; terrorism; wars and other military disturbances, sabotage; epidemics; riots; interruptions;
loss or malfunction of utilities; computer (hardware or software) or communication services; accidents; labor disputes; acts of civil or military authorities and governmental action. 
 SECTION 5.04. Not Responsible for Recitals or Issuance of Notes. The recitals contained herein and in the Notes, except the certificates of
authentication, shall be taken as the statements of the Obligor, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Notes. The Trustee
shall not be accountable for the use or application by the Obligor of the Notes or the proceeds thereof. The Trustee shall not be charged with notice or knowledge of any Event of Default under clause (6) of Section 4.01 or of the
identity of a Significant Subsidiary of the Obligor unless either (i) a Responsible Officer of the Trustee assigned to and working in its Corporate Trust Office shall have actual knowledge thereof or (ii) notice thereof shall have been
given to the Trustee in accordance with Section 1.05 from the Obligor or any Holder. 
 SECTION 5.05. May Hold Notes. The Trustee
or any Paying Agent, Registrar, or other agent of the Obligor, in its individual or any other capacity, may become the owner or pledgee of Notes and, subject to Sections 5.08 and 5.12, may otherwise deal with the Obligor with the same rights it
would have if it were not Trustee, Paying Agent, Registrar, or such other agent. 
 SECTION 5.06. Money Held in Trust. Money held by
the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Obligor.

 SECTION 5.07. Compensation and Reimbursement. The Obligor covenants and agrees: 
 (1) to pay the Trustee from time to time, and the Trustee shall be entitled to, reasonable compensation for all services rendered by it hereunder (which
compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

 (2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all
reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel),
except any such expense, disbursement or advance as may be attributable to its negligence or bad faith; and 
 (3) to indemnify the Trustee
for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of this trust, including the reasonable costs and
expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. 
 The Trustee shall have a lien prior to the Notes upon all property and funds held by it hereunder for any amount owing it or any retiring Trustee pursuant to this Section 5.07, except with respect to funds held
in trust for the benefit of the Holders of particular Notes. 
 Without prejudice to any other rights available to the Trustee under
applicable law, when the Trustee incurs expenses or renders services in connection with an Event of Default specified in clause (4) or (6) of Section 4.01, such expenses (including the reasonable charges and expenses of its
counsel) and compensation for such services are intended to constitute expenses of administration under any applicable Federal or State bankruptcy, insolvency, reorganization, or other similar law. 
 The provisions of this Section shall survive the termination of this Indenture and the resignation or removal of the Trustee. 
 SECTION 5.08. Disqualification; Conflicting Interests. If the Trustee has or shall acquire any conflicting interest within the meaning of the
Trust Indenture Act, it shall either eliminate such interest or resign as Trustee, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. 
 SECTION 5.09. Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder that shall be a corporation organized and
doing business under the laws of the United States of America or of any State or Territory thereof or of the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least
$50,000,000, and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority,
then for the purposes of this Section 5.09, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee
shall cease to be eligible in accordance with the provisions of this Section 5.09, it shall resign immediately in the manner and with the effect hereinafter specified in this Article V. 

 SECTION 5.10. Resignation and Removal; Appointment of Successor. 
 (1) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article V shall become effective until the
acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 5.11. 
 (2) The Trustee
may resign at any time with respect to the Notes of one or more series by giving written notice thereof to the Obligor. If the instrument of acceptance by a successor Trustee required by Section 5.11 shall not have been delivered to the Trustee
within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Notes of such series. 
 (3) The Trustee may be removed at any time with respect to the Notes of any series by Act of the Holders of 66 2/3% in aggregate principal amount of the
Outstanding Notes of such series, delivered to the Trustee and to the Obligor. 
 (4) If at any time: 
 (i) the Trustee shall fail to comply with Section 5.08 after written request therefor by the Obligor or by any Holder who has been a bona fide Holder
of a Note for at least six months, or 
 (ii) the Trustee shall cease to be eligible under Section 5.09 and shall fail to resign after
written request therefor by the Obligor or by any such Holder, or 
 (iii) the Trustee shall become incapable of acting or shall be adjudged
a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or
liquidation, then, in any such case, (A) the Obligor by a Board Resolution may remove the Trustee with respect to all Notes, or (B) subject to Section 4.14, any Holder who has been a bona fide Holder of a Note for at least six months
may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Notes and the appointment of a successor Trustee or Trustees. 
 (5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with
respect to the Notes of one or more series, the Obligor, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Notes of that or those series (it being understood that any such successor Trustee may be
appointed with respect to the Notes of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Notes of any particular series) and shall comply with the applicable requirements of Section 5.11.
If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Notes of any series shall be appointed by Act of the Holders of 66 2/3% in aggregate principal amount of
the Outstanding Notes of such series delivered to the Obligor and the 

 
retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements
of Section 5.11, become the successor Trustee with respect to the Notes of such series and to that extent supersede the successor Trustee appointed by the Obligor. If no successor Trustee with respect to the Notes of any series shall have been
so appointed by the Obligor or the Holders and accepted appointment in the manner required by Section 5.11, any Holder who has been a bona fide Holder of a Note of such series for at least six months may, on behalf of himself and all others
similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Notes of such series. 
 (6) The Obligor shall give notice of each resignation and each removal of the Trustee with respect to the Notes of any series and each appointment of a successor Trustee with respect to the Notes of any series to all
Holders of Notes of such series in the manner provided in Section 1.06. Each notice shall include the name of the successor Trustee with respect to the Notes of such series and the address of its Corporate Trust Office. 
 SECTION 5.11. Acceptance of Appointment by Successor. In case of the appointment hereunder of a successor Trustee with respect to all Notes, every
such successor Trustee so appointed shall execute, acknowledge and deliver to the Obligor and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective
and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Obligor or the successor Trustee, such retiring Trustee
shall, upon payment of its reasonable charges and subject to its lien, if any, provided by Section 5.07, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and
shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. 
 In case
of the appointment hereunder of a successor Trustee with respect to the Notes of one or more (but not all) series, the Obligor, the retiring Trustee and each successor Trustee with respect to the Notes of one or more series shall execute and deliver
an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all
the rights, powers, trusts and duties of the retiring Trustee with respect to the Notes of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Notes,
shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Notes of that or those series as to which the retiring Trustee is not
retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one
Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be 

 
trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution
and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested
with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Notes of that or those series to which the appointment of such successor Trustee relates; but, on request of the Obligor or any successor Trustee, such
retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Notes of that or those series to which the appointment of such successor Trustee
relates. 
 Upon request of any such successor Trustee, the Obligor shall execute any and all instruments for more fully and certainly
vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be. 
 No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article V. 
 SECTION 5.12. Merger, Conversion, Consolidation or Succession to Business. Any corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder; provided that such corporation shall be otherwise qualified and eligible under this Article V, without the execution or filing of any paper or any further act on the part of any
of the parties hereto. In case any Notes shall have been authenticated, but not delivered, by the Trustee then in office, any successor Trustee by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and
deliver the Notes so authenticated with the same effect as if such successor Trustee had itself authenticated such Notes. 
 SECTION 5.13.
Preferential Collection of Claims Against Obligor. If and when the Trustee shall be or shall become a creditor of the Obligor (or of any other obligor upon the Notes), the Trustee shall be subject to the provisions of the Trust Indenture Act
regarding the collection of claims against the Obligor (or against any such other obligor, as the case may be). 
 SECTION 5.14.
Appointment of Authenticating Agent. 
 (1) At any time when any of the Notes remain Outstanding the Trustee, with the approval of the
Obligor, may appoint an Authenticating Agent or Agents with respect to one or more series of Notes which shall be authorized to act on behalf of the Trustee to authenticate Notes of such series issued upon exchange, registration of transfer or
partial redemption thereof or pursuant to Section 2.05, and Notes so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes 

 
as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Notes by the Trustee or the
Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an
Authenticating Agent. Each Authenticating Agent shall be acceptable to the Obligor and shall at all times be a corporation organized and doing business under the laws of the United States of America, any state thereof or the District of Columbia,
authorized under such laws to act as an Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and, if other than the Obligor itself, subject to supervision or examination by Federal or State authority. If such
Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section 5.14, the combined capital and surplus of such
Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this
Section 5.14, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section 5.14. 
 (2) Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a
party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this
Section 5.14, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 
 (3) An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and, if other than the Obligor, to the Obligor. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written
notice thereof to such Authenticating Agent and, if other than the Obligor, to the Obligor. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section 5.14, the Trustee, with the approval of the Obligor, may appoint a successor Authenticating Agent which shall be acceptable to the Obligor and shall mail written notice of such appointment by
first-class mail, postage prepaid, to all Holders of Notes of the series with respect to which such Authenticating Agent will serve, as their names and addresses appear in the Security Register. Any successor Authenticating Agent upon acceptance of
its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless
eligible under the provisions of this Section 5.14. 
 (4) The Obligor agrees to pay to each Authenticating Agent from time to time
reasonable compensation for its services under this Section 5.14. 

 (5) If an appointment is made pursuant to this Section 5.14, the Notes may have endorsed thereon, in
addition to the Trustee’s certificate of authentication, an alternate certificate of authentication in the following form: 
 This is one
of the Notes referred to in the within-mentioned Indenture. 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

		
	By:	 	  

		 	As Authenticating Agent
		
		 	  

		 	Authorized Officer

 ARTICLE VI 
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND OBLIGOR 
 SECTION 6.01. Obligor to Furnish Trustee Names
and Addresses of Holders. The Obligor will furnish or cause to be furnished to the Trustee: 
 (1) semi-annually, not more than
15 days after the Record Date for the payment of interest in respect of each series of Notes, in such form as the Trustee may reasonably require, a list of the names and addresses of the Holders of such Notes as of such date, 
 (2) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Obligor of any such request, a list of
similar form and content as of a date not more than 15 days prior to the time such list is furnished, provided that, in the case of (1) and (2), if the Trustee shall be the Registrar, such list shall not be required to be furnished.

 SECTION 6.02. Preservation of Information; Communications to Holders. 
 (1) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders of Notes of each series contained in
the most recent list furnished to the Trustee as provided in Section 6.01 and the names and addresses of Holders of Notes received by the Trustee. The Trustee may destroy any list furnished to it as provided in Section 6.01 upon receipt of
a new list so furnished. 
 (2) Holders of Notes may communicate as provided in Section 312(b) of the Trust Indenture Act with other
Holders of Notes with respect to their rights under this Indenture or under the Notes. 
 (3) Every Holder of Notes, by receiving and holding
the same, agrees with the Obligor that the Obligor shall not be held accountable by reason of the disclosure of any 

 
such information as to the names and addresses of the Holders of Notes in accordance with Section 6.02(2), regardless of the source from which such
information was derived. 
 SECTION 6.03. Reports by Trustee. 
 (1) Within 60 days after December 31 of each year commencing with the first December 31 following the date of the initial issuance of Notes
under this Indenture, the Trustee shall transmit by mail to the Holders of Notes as their names and addresses appear in the Security Register, a brief report dated as of such December 31, to the extent required under Section 313(a) of the
Trust Indenture Act. 
 (2) The Trustee shall comply with Sections 313(b) and 313(c) of the Trust Indenture Act. 
 (3) A copy of each such report shall, at the time for such transmission to Holders of Notes, be filed by the Trustee with the Obligor, with each stock
exchange upon which any Notes are listed (if so listed) and also with the Commission. The Obligor agrees to promptly notify the Trustee when any Notes become listed on any stock exchange and of any delisting thereof. 
 SECTION 6.04. Reports by Obligor. 
 The Obligor shall comply with the provisions of Section 314(a) and 314(c) of the TIA. Delivery of such reports, information and documents to the Trustee pursuant to TIA Section 314(a)(1), (2) and/or (3) shall be for
informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or matters determinable from information contained therein, including the Company’s compliance with
any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates provided pursuant to Section 6.05 below). The Trustee is under no duty to examine such reports, information or documents to
ensure compliance with the provisions of this Indenture or to ascertain the correctness or otherwise of the information or the statements contained herein, or whether any such reports, information or documents have or have not been provided as
required by the TIA. The Trustee is entitled to assume such compliance with the TIA unless a Responsible Officer of the Trustee is informed otherwise. 
 SECTION 6.05. Compliance Certificate. 
 (a) The Obligor shall deliver to the Trustee, within 90 days
after the end of each fiscal year, an Officer’s Certificate stating that a review of the activities of the Obligor during the preceding fiscal year has been made under the supervision of the signing Officer with a view to determining whether
the Obligor has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Obligor has kept, observed, performed
and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a default or Event of Default has 

 
occurred, describing such default or Event of Default of which he or she may have knowledge and what action the Obligor is taking or proposes to take with
respect thereto. 
 (b) So long as any of the Notes are outstanding, the Obligor will deliver to the Trustee, forthwith upon any Officer
becoming aware of any default or Event of Default, and what action the Obligor is taking or proposes to take with respect thereto. 
 (c)
Except with respect to receipt of Note payments when due and any default or Event of Default information contained in the Officer’s Certificates delivered to it pursuant to this Section 6.05, the Trustee shall have no duty to review,
ascertain or confirm the Obligor’s compliance with, or the breach of any representation, warranty or covenant made in this Indenture. 
 ARTICLE VII 
 CONSOLIDATION, MERGER OR TRANSFER 
 SECTION 7.01. When Obligor May Merge or Transfer Assets. The Obligor may not consolidate or merge with or into another entity, or sell, lease, convey, transfer or otherwise dispose of the Obligor’s
property and assets substantially as an entirety to another entity unless: 
 (1) either (a) the Obligor shall be the continuing
corporation or (b) the Person (if other than the Obligor) formed by such consolidation or into which the Obligor is merged or to which all or substantially all of the properties and assets of the Obligor are conveyed or transferred
(i) shall be a corporation, partnership, limited liability company or trust organized and validly existing under the laws of the United States or any state thereof or the District of Columbia and (ii) shall expressly assume, by an
Indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, all of the obligations of the Obligor under the Notes and this Indenture; 
 (2) immediately after giving effect to such transaction, no Event of Default, and no default or other event which, after notice or lapse of time or both,
would become a default or Event of Default, shall have occurred and be continuing; 
 (3) if, as a result of any consolidation, merger, sale
or lease, conveyance or transfer described in this Section 7.01, properties or assets of the Obligor would become subject to any lien which would not be permitted by Section 9.06 without equally and ratably securing the Notes of such
series, the Obligor or such successor Person, as the case may be, will take steps as are necessary to effectively secure the Notes of such series equally and ratably with, or prior to, all Indebtedness secured by those liens as are provided in
Section 9.06; and 
 (4) the Obligor shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each
stating that such consolidation, merger, conveyance or transfer and, if a supplemental Indenture is required in connection with such transaction, such supplemental Indenture, comply with this Section 7.01 and that all conditions precedent
herein provided for relating to such transaction have been satisfied. 

 SECTION 7.02. Successor Entity Substituted. The successor Person formed by such consolidation or
into which the Obligor is merged or the successor Person to which such conveyance or transfer is made, in each case other than a lease, shall succeed to, and be substituted for, and may exercise every right and power of the Obligor under this
Indenture with the same effect as if such successor had been named as the Obligor herein; and thereafter the Obligor shall be discharged from all obligations and covenants under this Indenture and the Notes. The Trustee shall enter into a
supplemental Indenture to evidence the succession and substitution of such successor Person and such discharge and release of the Obligor. 
 ARTICLE VIII 
 SUPPLEMENTAL INDENTURES 
 SECTION 8.01. Supplemental Indentures Without Consent of Holders. Without the consent of the Holders of any Notes, the Obligor and the Trustee, at any time and from time to time, may enter into one or more
indentures supplemental hereto (which shall conform to the provisions of the TIA as in force at the date of execution thereof), in form satisfactory to the Trustee, for any of the following purposes: 
 (1) to evidence the succession of another Person to the Obligor and the assumption by any such successor of the covenants of the Obligor under the
Indenture and the Notes pursuant to Article VII; 
 (2) to add to the covenants of the Obligor for the benefit of Holders of the Notes or to
surrender any right or power conferred upon the Obligor; 
 (3) to add any additional events of default for the benefit of Holders of the
Notes; 
 (4) to add to or change any of the provisions of the Indenture as necessary to permit or facilitate the issuance of Notes in bearer
form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Notes in uncertificated form; 
 (5) to secure the Notes; 
 (6) to add or appoint a successor or separate Trustee; 
 (7) to cure any ambiguity, defect or inconsistency; 
 (8) to supplement any of the provisions of the Indenture as necessary to permit or facilitate the defeasance and discharge of any series of Notes, provided that the interests of the holders of the Notes are not adversely affected in any
material respect; 
 (9) to make any other change that would not adversely affect the Holders of the Notes; 

 (10) to make any change necessary to comply with any requirement of the Commission in connection with the
qualification of the Indenture or any supplemental Indenture under the TIA; and 
 (11) to conform the Indenture to the section entitled
“Description of Debt Securities” in the prospectus dated May 23, 2007 or any prospectus supplement to such prospectus relating to the Notes or any corresponding section of such prospectus or prospectus supplement pursuant to which any
additional series of Notes is issued under this Indenture. 
 No supplemental indenture for the purposes identified in
clause (2) or (7) above may be entered into if to do so would adversely affect the interest of the Holders of Notes. 
 SECTION 8.02. Supplemental Indentures with Consent of Holders. With the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Notes of all series affected by such supplemental indenture
(voting as one class), the Obligor, when authorized by a resolution of its Board of Directors, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of the Notes of each such series under this Indenture; provided,
however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Note affected thereby: 
 (1)
make any change to the percentage of principal amount of Notes the Holders of which must consent to an amendment, modification, supplement or waiver; 
 (2) reduce the rate of or extend the time of payment for interest on any Note; 
 (3) reduce the principal
amount or extend the stated Maturity of any Note; 
 (4) reduce the Redemption Price of any Note or add redemption provisions to the Notes;

 (5) make any Note payable in money other than that stated in the Indenture or the Note; 
 (6) impair the right to institute suit for the enforcement of any payment on or with respect to the Notes; or 
 (7) make any change in the ranking or priority of any Note that would adversely affect the Holder of such Note. 
 The holders of at least a majority in principal amount of the outstanding notes may waive compliance by the Obligor with certain restrictive provisions
of the indenture with respect to the notes. The holders of at least a majority in principal amount of the outstanding notes may waive any past default under the indenture, except a default not 

 
theretofore cured in the payment of principal or interest and certain covenants and provisions of the indenture which cannot be amended without the consent
of the holder of each outstanding note. 
 SECTION 8.03. Execution of Supplemental Indentures. In executing, or accepting the
additional trusts created by, any supplemental indenture permitted by this Article VIII or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 5.01) shall be
fully protected in relying upon, in addition to the documents required by Section 1.02, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. Upon request of the Obligor
and, in the case of Section 8.02, upon filing with the Trustee of evidence of an Act of Holders as aforementioned, the Trustee shall join with the Obligor in the execution of such supplemental indenture unless such supplemental indenture
affects the Trustee’s own rights, powers, trusts, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture. 
 SECTION 8.04. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article VIII, this Indenture
shall be and be deemed to be modified and amended in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and the respective rights, limitation of rights, duties, powers, trusts and immunities
under this Indenture of the Trustee, the Obligor and every Holder of Notes theretofore or thereafter authenticated and delivered hereunder shall be determined, exercised and enforced thereunder to the extent provided therein. 
 SECTION 8.05. Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant to this Article VIII shall conform to the
requirements of the TIA as then in effect. 
 SECTION 8.06. Documents to Be Given to Trustee. The Trustee, subject to the provisions
of Section 5.01, may receive an Officer’s Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article VIII complies with the applicable provisions of this Indenture.

 SECTION 8.07. Notation on Notes in Respect of Supplemental Indentures. Notes of any series authenticated and delivered after the
execution of any supplemental indenture pursuant to the provisions of this Article may bear a notation in form approved by the Trustee for such series as to any matter provided for by such supplemental indenture. If the Obligor or the Trustee shall
so determine, new Notes of any series so modified as to conform, in the opinion of the Trustee and the Board Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Obligor, authenticated
by the Trustee and delivered in exchange for the Notes of such series then Outstanding. 

 ARTICLE IX 
 COVENANTS 
 SECTION 9.01. Payment of Principal, Premium and Interest. The Obligor covenants and
agrees for the benefit of each series of Notes that it will duly and punctually pay or cause to be paid the principal, premium, if any, and interest on such series of Notes on the dates and in the manner provided in such series of Notes, and will
duly comply with all the other terms, agreements and conditions contained in this Indenture for the benefit of such series of Notes. 
 Payment of principal of, and premium, if any, and interest on a Global Note registered in the name of or held by the DTC or its nominee will be made in immediately available funds to DTC or its nominee, as the case may be, as the Holder of
such Global Note. If any of the Notes are no longer represented by a Global Note, payment of interest on certificated Notes in definitive form may, at the option of the Obligor, be made by (i) check mailed directly to Holders at their
registered addresses or (ii) upon request of any Holder of at least $1,000,000 principal amount of Notes, wire transfer to an account located in the United States by the payee. 
 The Obligor shall pay interest (including post-petition interest in any proceeding under any Federal or state bankruptcy, insolvency, reorganization, or
other similar law) on overdue principal and premium, if any, from time to time on demand at the applicable rate of interest determined from time to time in the manner provided for in each series of Notes; it shall pay interest (including
post-petition interest in any proceeding under any Federal or State bankruptcy, insolvency, reorganization, or other similar law) on overdue installments of interest and (without regard to any applicable grace periods) from time to time on demand at
the same rates to the extent lawful. 
 SECTION 9.02. Maintenance of Office or Agency. So long as any of the Notes remain outstanding,
the Obligor will maintain an office or agency in the City of New York (which initially will be the Corporate Trust Office) where Notes may be presented or surrendered for payment, where Notes may be surrendered for transfer or exchange, and where
notices and demands to or upon the Obligor in respect of the Notes and this Indenture may be served. The Obligor will give prompt written notice to the Trustee of the location, and of any change in the location, of such office or agency. If at any
time the Obligor shall fail to maintain such office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and
the Obligor hereby appoints the Trustee its agent to receive all such presentations, surrenders, notices and demands. 
 The Obligor may also
from time to time designate one or more other offices or agencies where one or more series of Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however,
that no such designation or rescission shall in any manner relieve the Obligor of its obligation to maintain an office or agency in the City of New York for such purposes. 

 
The Obligor shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office
or agency. 
 SECTION 9.03. Money for Note Payments to be Held in Trust. If the Obligor shall at any time act as its own Paying Agent,
it will, on or before each due date of the principal, premium, if any, or interest on any series of Notes, segregate and hold in trust for the benefit of the Holders of such series of Notes a sum sufficient to pay such principal, premium or interest
so becoming due until such sums shall be paid to such Holders of the Notes of such series or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act. 
 Whenever the Obligor shall have one or more Paying Agents, it will, on or prior to each due date of the principal, premium, if any, or interest, on any
series of Notes, deposit with a Paying Agent a sum sufficient to pay such principal, premium, or interest so becoming due, such sum to be held in trust for the benefit of the Holders of the Notes of such series entitled to the same and (unless such
Paying Agent is the Trustee) the Obligor will promptly notify the Trustee of its action or failure so to act. 
 The Obligor will cause each
Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section 9.03, that such Paying Agent will: 
 (1) hold all sums held by it for the payment of principal, premium, if any, or interest, on Notes of any series in trust for the benefit of the Holders
of the Notes of such series entitled thereto until such sums shall be paid to such Holders or otherwise disposed of as herein provided; 
 (2) give the Trustee prompt notice of any default by the Obligor (or any other obligor upon the Notes of such series) in the making of any such payment of principal, premium, if any, or interest, on such Notes; and 
 (3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in
trust by such Paying Agent. 
 The Obligor may, at any time, for the purpose of obtaining the discharge of this Indenture or for any other
purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Obligor or such Paying Agent or, if for any other purpose, all sums so held in trust by the Obligor in respect of all series of Notes,
such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Obligor or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further
liability with respect to such money. 
 SECTION 9.04. Certificate to Trustee. The Obligor will deliver to the Trustee, within
120 days after the end of each fiscal year of the Obligor ending after the initial issuance of Notes under this Indenture, an Officer’s Certificate that complies with TIA Section 314(a)(4) stating that in the course of the performance
by the signers of their 

 
duties as officers of the Obligor, they would normally have knowledge of any default by the Obligor in the performance of any of its covenants or agreements
contained herein, stating whether or not they have knowledge of any such default and, if so, specifying each such default of which the signers have knowledge and the nature thereof. 
 SECTION 9.05. Existence. Subject to Article VII, the Obligor will do or cause to be done all things necessary to preserve and keep in full
force and effect its limited liability company existence. 
 SECTION 9.06. Limitation on Liens. The Obligor will not, and will not
permit any Significant Subsidiary to, create, incur, assume or permit to exist any lien on any property or asset (including the capital stock of any Subsidiary), to secure any Indebtedness of the Obligor, any Significant Subsidiary or any other
Person, without securing the Notes equally and ratably with such Indebtedness for so long as such Indebtedness shall be so secured. The foregoing shall not apply to: 
 (1) liens on assets or property of a Person at the time it becomes a Subsidiary securing only Indebtedness of such Person; provided such Indebtedness was not incurred in connection with such Person or entity becoming
a Subsidiary and such liens do not extend to any assets other than those of the Person becoming a Subsidiary; 
 (2) liens existing on assets
created at the time of, or within 18 months after, the acquisition, purchase, lease, improvement or development of such assets to secure all or a portion of the purchase price or lease for, or the costs of improvement or development of, such assets;

 (3) liens to secure any extension, renewal, refinancing or refunding (or successive extensions, renewals, refinancings or refundings), in
whole or in part, of any Indebtedness secured by liens referred to in clauses (1) and (2) above or liens created in connection with any amendment, consent or waiver relating to such Indebtedness, so long as such lien is limited to all or
part of substantially the same property which secured the lien extended, renewed or replaced, the amount of Indebtedness secured is not increased (other than by the amount equal to any costs and expenses (including any premiums, fees or penalties)
incurred in connection with any extension, renewal, refinancing or refunding) and the Indebtedness so secured does not exceed the fair market value (as determined by the Obligor’s Board of Directors) of the assets subject to such liens at the
time of such extension, renewal, refinancing or refunding, or such amendment, consent or waiver, as the case may be; 
 (4) liens on property
incurred in Sale and Leaseback Transactions permitted by Section 9.07; 
 (5) liens in favor of only the Obligor or one or more
Subsidiaries granted by the Obligor or a Subsidiary to secure any obligations owed to the Obligor or a Subsidiary of the Obligor; 
 (6)
liens on assets of any subsidiary of the Obligor registered or regulated as a broker or dealer with or by the Commission, the National Association of Securities 

 
Dealers, Inc. and any successor entity or any applicable governmental authority (whether domestic or foreign) created or otherwise arising in the ordinary
course of such Subsidiary’s business; 
 (7) liens on securities deemed to exist under repurchase agreements and reverse repurchase
agreements entered into by the Obligor or any Significant Subsidiary in the ordinary course of business; 
 (8) liens in favor of the Trustee
granted in accordance with the Indenture; and 
 (9) liens otherwise prohibited by this Section 7.01, securing Indebtedness which,
together with the value of Attributable Debt incurred in Sale and Leaseback Transactions permitted under Section 9.07 below, do not exceed the greater of (i) 15% of Consolidated Net Tangible Assets measured at the date of incurrence of the
lien and (ii) $50 million. 
 SECTION 9.07. Limitation on Sale-Leaseback Transactions. The Obligor will not, and will not permit
any Significant Subsidiary to, enter into any arrangement with any Person pursuant to which the Obligor or any Significant Subsidiary leases any property that has been or is to be sold or transferred by the Obligor or the Significant Subsidiary to
such Person (a “Sale and Leaseback Transaction”), except that a Sale and Leaseback Transaction is permitted if the Obligor or such Significant Subsidiary would be entitled to incur Indebtedness secured by a lien on the property to be
leased (without equally and ratably securing the outstanding Notes) in an amount equal to the present value of the lease payments with respect to the term of the lease remaining on the date as of which the amount is being determined, discounted at
the rate of interest set forth or implicit in the terms of the lease, compounded semi-annually (such amount is referred to as the “Attributable Debt”). The foregoing shall not apply to: 
 (a) temporary leases for a term, including renewals at the option of the lessee, of not more than three years; 
 (b) leases between only the Obligor and a Subsidiary of the Obligor or only between Subsidiaries of the Obligor; 
 (c) leases where the proceeds are at least equal to the fair market value (as determined by the Obligor’s board of directors) of the property and
the Obligor applies within 180 days after the sale of an amount equal to the greater of the net proceeds of the sale or the Attributable Debt associated with the property to the retirement of long-term secured Indebtedness; and 
 (d) leases of property executed by the time of, or within 12 months after the latest of, the acquisition, the completion of construction or improvement,
or the commencement of commercial operation of the property. 

 ARTICLE X 
 REDEMPTION OF NOTES 
 SECTION 10.01. Optional Redemption. Unless otherwise provided pursuant to
Section 2.01(1)(v)(f), the Obligor shall not be permitted to optionally redeem Notes of any series. 
 SECTION 10.02. Mandatory
Redemption. Unless otherwise provided pursuant to Section 2.01(1)(v)(k), the Obligor shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes of any series. 
 [SIGNATURE PAGE FOLLOWS] 

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

			
	BROADRIDGE FINANCIAL SERVICES, INC.
		
	By:	 	 /s/ Dan Sheldon

	Name:	 	Dan Sheldon
	Title:	 	Chief Financial Officer

  

			
	U.S. BANK NATIONAL ASSOCIATION,
	as Trustee
		
	By:	 	 /s/ Richard Prokosch

	Name:	 	Richard Prokosch
	Title:	 	Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00124-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00124-of-00352.parquet"}]]