Document:

Form of Convertible Debt Securities Indenture

EXHIBIT 4.2 
 

 
ICOS CORPORATION, Issuer 
 
to 
 
                        , Trustee 
 

 
INDENTURE 
 
Dated as of
                         , 200   
 

 
Convertible [Subordinated] Debt Securities 
 

 
Reconciliation and tie between
Indenture, dated as of                         , 200  , and the Trust Indenture Act of 1939, as amended

 

	 Trust Indenture Act of 1939 Section

	  	 Indenture Section

	 310
	  	 (a)(1)
	  	 6.12

	 	  	 (a)(2)
	  	 6.12

	 	  	 (a)(3)
	  	 TIA

	 	  	 (a)(4)
	  	 Not applicable

	 	  	 (a)(5)
	  	 TIA

	 	  	 (b)
	  	 6.3,6.10

	 311
	  	 (a)
	  	 TIA

	 	  	 (b)
	  	 TIA

	 312
	  	 (a)
	  	 6.8

	 	  	 (b)
	  	 TIA

	 	  	 (c)
	  	 TIA

	 313
	  	 (a)
	  	 6.7; TIA

	 	  	 (b)
	  	 TIA

	 	  	 (c)
	  	 TIA

	 	  	 (d)
	  	 TIA

	 314
	  	 (a)
	  	 9.6; 9.7

	 	  	 (b)
	  	 Not applicable

	 	  	 (c)(1)
	  	 1.2

	 	  	 (c)(2)
	  	 1.2

	 	  	 (c)(3)
	  	 Not applicable

	 	  	 (d)
	  	 Not applicable

	 	  	 (e)
	  	 TIA

	 	  	 (f)
	  	 TIA

	 315
	  	 (a)
	  	 TIA

	 	  	 (b)
	  	 6.6

	 	  	 (c)
	  	 TIA

	 	  	 (d)(1)
	  	 TIA

	 	  	 (d)(2)
	  	 TIA

	 	  	 (d)(3)
	  	 TIA

	 	  	 (e)
	  	 TIA

	 316
	  	 (a)(last sentence)
	  	 1.1

	 	  	 (a)(1)(A)
	  	 5.2; 5.8

	 	  	 (a)(1)(B)
	  	 5.7

	 	  	 (b)
	  	 5.9; 5.1

	 	  	 (c)
	  	 TIA

	 317
	  	 (a)(1)
	  	 5.3

	 	  	 (a)(2)
	  	 5.4

	 	  	 (b)
	  	 9.3

	 318
	  	 (a)
	  	 1.11

	 	  	 (b)
	  	 TIA

	 	  	 (c)
	  	 1.11; TIA

This reconciliation and tie section
does not constitute part of the Indenture 
 

i 

TABLE OF CONTENTS 
 

	 	  	 	  	 Page

	 ARTICLE 1        Definitions
and Other Provisions of General Application
	  	 1

	
	             Section 1.1
	  	 Definitions
	  	 1

	
	             Section 1.2
	  	 Compliance Certificates and Opinions
	  	 7

	
	             Section 1.3
	  	 Form of Document Delivered to Trustee
	  	 8

	
	             Section 1.4
	  	 Acts of Holders
	  	 8

	
	             Section 1.5
	  	 Notices, Etc., to Trustee and Company
	  	 9

	
	             Section 1.6
	  	 Notice to Holders; Waiver
	  	 9

	
	             Section 1.7
	  	 Headings and Table of Contents
	  	 10

	
	             Section 1.8
	  	 Successors and Assigns
	  	 10

	
	             Section 1.9
	  	 Separability
	  	 10

	
	             Section
1.10
	  	 Benefits of Indenture
	  	 10

	
	             Section 1.11
	  	 Governing Law
	  	 10

	
	             Section
1.12
	  	 Conflict of Any Provision of Indenture With Trust Indenture Act
	  	 11

	
	             Section
1.13
	  	 No Recourse Against Others
	  	 11

	
	             Section
1.14
	  	 Waiver of Trial by Jury
	  	 11

	
	             Section
1.15
	  	 Counterparts
	  	 11

	
	             Section
1.16
	  	 Legal Holidays
	  	 11

	
	 ARTICLE 2        Security
Forms
	  	 12

	
	             Section
2.1
	  	 Forms Generally
	  	 12

	
	             Section
2.2
	  	 Form of Face of Security
	  	 12

	
	             Section
2.3
	  	 Form of Reverse of Security
	  	 14

	
	             Section
2.4
	  	 Form of Trustee’s Certificate of Authentication
	  	 19

	
	 ARTICLE 3        The
Securities
	  	 19

	
	             Section
3.1
	  	 Amount Unlimited; Issuable in Series
	  	 19

	
	             Section
3.2
	  	 Denominations
	  	 22

	
	             Section
3.3
	  	 Execution, Authentication, Delivery and Dating
	  	 22

	
	             Section
3.4
	  	 Temporary Securities
	  	 24

	
	             Section
3.5
	  	 Registration, Registration of Transfers and Exchanges
	  	 25

	
	             Section
3.6
	  	 Replacement Securities
	  	 26

	
	             Section
3.7
	  	 Payment of Interest; Interest Rights Preserved
	  	 27

 

ii 

TABLE OF CONTENTS 
(continued) 
 

	 	  	 	  	 Page

	
	             Section 3.8
	  	 Persons Deemed Owners
	  	 28

	
	             Section 3.9
	  	 Cancellation
	  	 28

	
	             Section 3.10
	  	 Computation of Interest
	  	 28

	
	             Section
3.11
	  	 CUSIP Numbers
	  	 29

	
	 ARTICLE 4        Satisfaction,
Discharge and Covenant Defeasance
	  	 29

	
	             Section
4.1
	  	 Termination of Company’s Obligations Under the Indenture
	  	 29

	
	             Section
4.2
	  	 Application of Trust Funds
	  	 30

	
	             Section
4.3
	  	 Applicability of Defeasance Provisions; Company’s Option to Effect Covenant
Defeasance
	  	 30

	
	             Section
4.4
	  	 Covenant Defeasance
	  	 30

	
	             Section
4.5
	  	 Conditions to Covenant Defeasance
	  	 31

	
	             Section
4.6
	  	 Deposited Money and Government Obligations to Be Held in Trust
	  	 32

	
	             Section
4.7
	  	 Transfers and Distribution at Company Request
	  	 32

	
	 ARTICLE 5        Defaults and
Remedies
	  	 33

	
	             Section
5.1
	  	 Events of Default
	  	 33

	
	             Section
5.2
	  	 Acceleration, Rescission and Annulment
	  	 34

	
	             Section
5.3
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 35

	
	             Section
5.4
	  	 Trustee May File Proofs of Claim
	  	 36

	
	             Section
5.5
	  	 Trustee May Enforce Claims Without Possession of Securities
	  	 36

	
	             Section
5.6
	  	 Delay or Omission Not Waiver
	  	 36

	
	             Section
5.7
	  	 Waiver of Past Defaults
	  	 36

	
	             Section
5.8
	  	 Control by Majority
	  	 36

	
	             Section
5.9
	  	 Limitation on Suits by Holders
	  	 37

	
	             Section
5.10
	  	 Rights of Holders to Receive Payment
	  	 37

	
	             Section
5.11
	  	 Application of Money Collected
	  	 37

	
	             Section
5.12
	  	 Restoration of Rights and Remedies
	  	 38

	
	             Section
5.13
	  	 Rights and Remedies Cumulative
	  	 38

	
	 ARTICLE 6        The
Trustee
	  	 38

	
	             Section
6.1
	  	 Certain Duties and Responsibilities
	  	 38

 

iii 

TABLE OF CONTENTS 
(continued) 
 

	 	  	 	  	 Page

	
	             Section 6.2
	  	 Rights of Trustee
	  	 39

	
	             Section
6.3
	  	 Trustee May Hold Securities
	  	 40

	
	             Section
6.4
	  	 Money Held in Trust
	  	 41

	
	             Section
6.5
	  	 Trustee’s Disclaimer
	  	 41

	
	             Section
6.6
	  	 Notice of Defaults
	  	 41

	
	             Section
6.7
	  	 Reports by Trustee to Holders
	  	 41

	
	             Section
6.8
	  	 Securityholder Lists
	  	 41

	
	             Section
6.9
	  	 Compensation and Indemnity
	  	 42

	
	             Section 6.10
	  	 Replacement of Trustee
	  	 42

	
	             Section
6.11
	  	 Acceptance of Appointment by Successor
	  	 44

	
	             Section
6.12
	  	 Eligibility; Disqualification
	  	 45

	
	             Section
6.13
	  	 Merger, Conversion, Consolidation or Succession to Business
	  	 45

	
	             Section
6.14
	  	 Appointment of Authenticating Agent
	  	 45

	
	             Section
6.15
	  	 Trustee’s Application for Instructions From the Company
	  	 47

	
	 ARTICLE 7        Consolidation,
Merger or Sale by the Company
	  	 47

	
	 ARTICLE 8        Supplemental
Indentures
	  	 48

	
	             Section
8.1
	  	 Supplemental Indentures Without Consent of Holders
	  	 48

	
	             Section
8.2
	  	 With Consent of Holders
	  	 49

	
	             Section
8.3
	  	 Compliance With Trust Indenture Act
	  	 50

	
	             Section
8.4
	  	 Execution of Supplemental Indentures
	  	 50

	
	             Section
8.5
	  	 Effect of Supplemental Indentures
	  	 50

	
	             Section
8.6
	  	 Reference in Securities to Supplemental Indentures
	  	 50

	
	 ARTICLE
9        Covenants
	  	 51

	
	             Section
9.1
	  	 Payment of Principal, Premium, if Any, and Interest
	  	 51

	
	             Section
9.2
	  	 Maintenance of Office or Agency
	  	 51

	
	             Section
9.3
	  	 Money for Securities to Be Held in Trust; Unclaimed Money
	  	 51

	
	             Section
9.4
	  	 Corporate Existence
	  	 52

	
	             Section
9.5
	  	 Insurance
	  	 53

	
	             Section
9.6
	  	 Reports by the Company
	  	 53

	
	             Section
9.7
	  	 Annual Review Certificate; Notice of Default
	  	 53

 

iv 

TABLE OF CONTENTS 
(continued) 
 

	 	  	 	  	 Page

	
	             Section 9.8
	  	 Provision of Financial Statements
	  	 54

	
	 ARTICLE 10        Redemption
	  	 54

	
	             Section
10.1
	  	 Applicability of Article
	  	 54

	
	             Section
10.2
	  	 Election to Redeem; Notice to Trustee
	  	 54

	
	             Section
10.3
	  	 Selection of Securities to Be Redeemed
	  	 54

	
	             Section
10.4
	  	 Notice of Redemption
	  	 55

	
	             Section
10.5
	  	 Deposit of Redemption Price
	  	 56

	
	             Section
10.6
	  	 Securities Payable on Redemption Date
	  	 56

	
	             Section
10.7
	  	 Securities Redeemed in Part
	  	 57

	
	 ARTICLE 11        Sinking
Funds
	  	 57

	
	             Section
11.1
	  	 Applicability of Article
	  	 57

	
	             Section
11.2
	  	 Satisfaction of Sinking Fund Payments With Securities
	  	 57

	
	             Section
11.3
	  	 Redemption of Securities for Sinking Fund
	  	 58

	
	 ARTICLE 12        Conversion of
Securities
	  	 58

	
	             Section
12.1
	  	 Conversion Privilege
	  	 58

	
	             Section
12.2
	  	 Exercise of Conversion Privilege
	  	 58

	
	             Section
12.3
	  	 Fractional Shares
	  	 59

	
	             Section
12.4
	  	 Adjustment of Conversion Price
	  	 59

	
	             Section
12.5
	  	 Notice of Adjustments of Conversion Price
	  	 62

	
	             Section
12.6
	  	 Notice of Certain Corporate Action
	  	 62

	
	             Section
12.7
	  	 Company to Reserve Common Stock
	  	 63

	
	             Section
12.8
	  	 Taxes on Conversions
	  	 63

	
	             Section
12.9
	  	 Covenant as to Common Stock
	  	 63

	
	             Section 12.10
	  	 Cancellation of Converted Securities
	  	 63

	
	             Section
12.11
	  	 Provisions in Case of Consolidation, Merger or Sale of Assets
	  	 63

	
	 ARTICLE 13        Subordination of
Securities
	  	 64

	
	             Section
13.1
	  	 Securities Subordinated to Senior Indebtedness
	  	 64

	
	             Section
13.2
	  	 Company Not to Make Payments With Respect to Securities in Certain Circumstances;
Limitations on Acceleration of Securities
	  	 64

 

v 

TABLE OF CONTENTS 
(continued) 
 

	 	  	 	  	 Page

	
	             Section 13.3
	  	 Securities Subordinated to Prior Payment of All Senior Indebtedness on Dissolution,
Liquidation or Reorganization of the Company
	  	 67

	
	             Section
13.4
	  	 Holders to Be Subrogated to Rights of Holders of Senior Indebtedness
	  	 68

	
	             Section
13.5
	  	 Obligation of the Company Unconditional
	  	 68

	
	             Section
13.6
	  	 Knowledge of Trustee
	  	 69

	
	             Section
13.7
	  	 Application by Trustee of Moneys Deposited With It
	  	 69

	
	             Section
13.8
	  	 Subordination Rights Not Impaired by Acts or Omissions of Company or Holders of
Senior Indebtedness
	  	 70

	
	             Section
13.9
	  	 Holders Authorize Trustee to Effectuate Subordination of Securities
	  	 70

	
	             Section 13.10
	  	 Right of Trustee to Hold Senior Indebtedness
	  	 70

	
	             Section
13.11
	  	 Article 13 Not to Prevent Events of Default
	  	 70

	
	             Section
13.12
	  	 Paying Agents Other Than the Trustee
	  	 71

	
	             Section
13.13
	  	 Trustee’s Compensation Not Prejudiced
	  	 71

	
	             Section
13.14
	  	 Trust Moneys Not Subordinated
	  	 71

 
 

vi 

INDENTURE, dated as of
                         , 200  , from ICOS CORPORATION, a Delaware corporation (the
“Company”), as issuer, to                    , a
                     corporation, as Trustee (the “Trustee”). 
 
RECITALS 
 
The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its
unsecured convertible [subordinated] debentures, notes or other evidences of indebtedness (“Securities”) to be issued in one or more series as herein provided. 
 
All things necessary to make the Securities, when executed by the Company, the valid obligations of the
Company, and to make this Indenture a valid agreement of the Company, in accordance with their and its terms, have been done. 
 
For and in consideration of the premises and the purchase of the Securities by the Holders (as hereinafter defined) thereof, it is
mutually covenanted and agreed as follows for the equal and ratable benefit of the Holders of the Securities: 
 
ARTICLE 1 
 
Definitions and Other Provisions of General Application 
 

	Section 1.1	 	Definitions 

 
(a) For all purposes of this Indenture, 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 that are defined in the Trust Indenture Act, 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 generally accepted accounting principles; and 
 
(4) 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. 
 
“Affiliate” of any specified Person means any Person directly or indirectly controlling or controlled by, or under direct or
indirect common control with, such specified Person. For purposes of this definition, “control” 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. 

 
“Agent” means any Paying Agent or Registrar. Authenticating Agent” means any authenticating agent appointed by the Trustee pursuant to Section 6.13. 
 
“Board” or “Board of Directors” means the Board of Directors of the Company, the
executive committee or any other duly authorized committee thereof. 
 
“Board Resolution” means a copy of a resolution of the Board of Directors certified by the Corporate Secretary or an Assistant Secretary of the Company 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,” when used with respect to any Place of Payment or any other particular location referred to in this Indenture or in the Securities, means, unless otherwise specified with
respect to any Securities pursuant to Section 3.1, each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in that Place of Payment or particular location are authorized or obligated by law or executive
order to close. 
 
“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 Indenture such Commission is not existing and performing the duties now assigned to it under the
Trust Indenture Act, then the body performing such duties at such time. 
 
“Common Stock” means any stock of any class of the Company that has no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding-up of
the Company and that is not subject to redemption by the Company. Subject to the provisions of Section 12.11, however, shares issuable on conversion of Securities shall include only shares of the class designated as Common Stock of the Company as of
the date of this Indenture or shares of any class or classes resulting from any reclassification or reclassifications thereof, which shares shall have no preference in respect of dividends or of amounts payable in the event of any voluntary or
involuntary liquidation, dissolution or winding-up of the Company and which shares are not subject to redemption by the Company; provided, however, that if at any time there shall be more than one such resulting class, the shares of each such class
then so issuable shall be substantially proportionate to that number by which the total number of shares of such class resulting from all such reclassifications bears to the total number of shares of all such classes resulting from all such
reclassifications. 
 
“Company” means the
Person named as the Company in the introductory paragraph of this Indenture until one or more successor corporations shall have become such pursuant to the applicable provisions of this Indenture, and thereafter means such successors. 
 
“Company Order” and “Company Request”
mean, respectively, a written order or request signed in the name of the Company by the Chairman of the Board, the Chief Executive Officer, the President or any Vice President, or, with respect to Sections 3.3, 3.4, 3.5 and 6.1, any other employee
of the Company named in an Officers’ Certificate delivered to the Trustee. 
 
“Corporate Trust Office” means the principal office of the Trustee at which at any particular time its corporate trust business shall be principally administered. 
 

2 

 
“corporation” includes corporations, associations, companies and business trusts. 
 
“Default” means any event that is, or after notice or passage of time, or both, would be, an Event of Default. 
 
“Exchange Act” means the Securities Exchange Act of
1934, as amended, and all the rules and regulations promulgated thereunder. 
 
“Government Obligations” means securities that are (i) direct obligations of the United States or (ii) obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States, which are not callable or redeemable at the option of the issuer thereof, and shall also include a
depositary receipt issued by a bank or trust company as custodian with respect to any such Government Obligation or a specific payment of interest on or principal of any such Government Obligation held by such custodian for the account of the holder
of a depositary receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the
Government Obligation evidenced by such depositary receipt. 
 
“Holder” means a person in whose name a Security is registered on the Register. 
 
“Indebtedness” of any Person as of any date means, without duplication, all indebtedness of such Person in respect of borrowed
money, including all interest, fees and expenses owed in connection therewith (whether the recourse of the lender is to the whole of the assets of such Person or only to a portion thereof), indebtedness evidenced by notes, debentures, bonds or other
instruments of indebtedness, obligations for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit transaction, or obligations under capitalized leases and equipment leases. 
 
“Indenture” means this Indenture as originally
executed or as amended or supplemented from time to time and shall include the forms and terms (but not defined terms established in an Officers’ Certificate or a Board Resolution) of particular series of Securities established as contemplated
by Section 2.1 and 3.1. 
 
“Indexed
Security” means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal face amount thereof at original issuance. 
 
“interest,” when used with respect to an Original
Issue Discount Security which by its terms bears interest only after maturity, means interest payable after maturity. 
 
“Interest Payment Date,” when used with respect to any Security, means the Stated Maturity of an installment of interest on such
Security. 
 
“Maturity,” when used with
respect to any Security, means the date on which the principal of such Security or an installment of principal becomes due and payable as therein or 

 

3 

herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
 
“Officer” means the Chairman of the Board of
Directors, the President, any Executive Vice President, any Senior Vice President, any Vice President or the Corporate Secretary of the Company. 
 
“Officers’ Certificate” means a certificate signed by the Chairman of the Board, the Chief Executive Officer, the President
or any Vice President. 
 
“Opinion of
Counsel” means a written opinion of legal counsel, who may be (i) the senior attorney employed by the Company, (ii) Orrick, Herrington & Sutcliffe LLP, or (iii) other counsel designated by the Company and who shall be reasonably acceptable
to the Trustee. 
 
“Original Issue Discount
Security” means any Security that provides for an amount less than the stated principal amount thereof to be due and payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.2. 
 
“Outstanding,” when used with respect to Securities,
means, as of the date of determination, all Securities theretofore authenticated and delivered under this Indenture, except: 
 
(i) Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 
 
(ii) Securities, or portions thereof, the
payment or redemption money of which in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its
own Paying Agent) for the Holders of such Securities, provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provisions therefor satisfactory to the Trustee have been made;

 
(iii) Securities, except to the
extent provided in Sections 4.4, with respect to which the Company has effected covenant defeasance as provided in Article 4; and 
 
(iv) Securities that have been paid pursuant to Section 3.6 or in exchange for or in lieu of which other Securities have
been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose
hands such Securities are valid obligations of the Company; 
 
provided, however, that in determining whether the Holders of the requisite—principal amount of the Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, or whether
sufficient funds are available for redemption or for any other purpose, and for the purpose of making the calculations required by Section 313 of the Trust Indenture Act, (y) the principal amount of any Original Issue Discount Securities that may be
counted in making such determination or calculation and that shall be deemed to be Outstanding for such purpose shall be equal to the amount of principal thereof that would be (or 

 

4 

shall have been declared to be) due and payable, at the time of such determination, upon a declaration of acceleration of the maturity
thereof pursuant to Section 5.2, and (z) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be outstanding, except that, in
determining whether the Trustee shall be protected in making such calculation or in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities that the Trustee knows to be so owned shall be so
disregarded. Securities so owned that have been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the
pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 
 
“Paying Agent” means any Person authorized by the Company to pay the principal of, premium, if any, or interest on any
Securities on behalf of the Company. 
 
“Periodic Offering” means an offering of Securities of a series from time to time the specific terms of which Securities, including, without limitation, the rate or rates of interest or formula for determining the rate or
rates of interest thereon, if any, the Stated Maturity or Stated Maturities thereof, the original issue date or dates thereof, the redemption provisions, if any, with respect thereto, and any other terms specified as contemplated by Section 3.1 with
respect thereto, are to be determined by the Company upon the issuance of such Securities. 
 
“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political
subdivision thereof. 
 
“Place of
Payment,” when used with respect to the Securities of or within any series, means the place or places where, subject to the provisions of Section 9.2, the principal of, premium, if any, and interest on such Securities are payable as specified
as contemplated by Section 3.1. 
 
“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any
Security authenticated and delivered under Section 3.6 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 
“Redemption Date,” when used with respect to any
Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 
 
“Redemption Price,” when used with respect to any Security to be redeemed, in whole or in part, means the price at which it is
to be redeemed pursuant to this Indenture. 
 
“Regular Record Date” for the interest payable on any Interest Payment Date on the Securities of or within any series means the date specified for that purpose as contemplated by Section 3.1. 
 

5 

 
“Responsible Officer,” when used with respect to the Trustee, means the chairman or any vice chairman of the board of directors, the chairman or any vice chairman of the executive committee of the board of directors, the
chairman of the trust committee, the president, any senior vice president, any vice president, any assistant vice president, the secretary, the treasurer, any assistant treasurer, the cashier, any assistant cashier, any senior trust officer, any
trust officer, the controller, any assistant controller, or any other officer of the Trustee customarily performing functions similar to those performed by the persons who at the time shall be such officers, respectively, and also means, with
respect to a particular corporate trust matter, any other officer to whom such corporate trust matter is referred because of his knowledge of and familiarity with the particular subject. 
 
“Security” or “Securities” has the meaning stated in the first recital of this Indenture
and more particularly means any Security or Securities of the Company issued, authenticated and delivered under this Indenture. 
 
“Senior Indebtedness” means all Indebtedness of the Company (other than the Securities), unless such Indebtedness by its terms,
or the terms of the instrument creating or evidencing it, is subordinate in right of payment to or pari passu with the Securities. 
 
“Special Record Date” for the payment of any Defaulted Interest on the Securities of any issue means a date fixed by the Trustee
pursuant to Section 3.7. 
 
“Stated
Maturity,” when used with respect to any Security or any installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal
or interest is due and payable. 
 
“Subsidiary” means any corporation of which the Company at the time owns or controls, directly or indirectly, more than 50% of the shares of outstanding stock having general voting power under ordinary circumstances to
elect a majority of the board of directors of such corporation (irrespective of whether or not at the time stock of any other class or classes of such corporation shall have or might have voting power by reason of the happening of any contingency).

 
“Trading Day” means each Monday,
Tuesday, Wednesday, Thursday and Friday, other than any day on which Securities are not traded on the applicable securities exchange or in the applicable securities market. 
 
“Trustee” means the party named as such in the introductory paragraph of this Indenture until a
successor Trustee replaces it pursuant to the applicable provisions of this Indenture, and thereafter means such successor Trustee and if, at any time, there is more than one Trustee, “Trustee” as used with respect to the Securities of any
series shall mean the Trustee with respect to the Securities of that series. 
 
“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as in effect on the date of this Indenture, except as provided in Section 8.3. 
 

6 

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

 
(b) The following terms shall have the meanings
specified in the Sections referred to opposite such term below: 
 

	 Term

	  	 Section

	 
	 “Act”
	  	 1.4
	 (a)

	 “Bankruptcy Law”
	  	 5.1
	  

	 “Custodian”
	  	 5.1
	  

	 “Defaulted Interest”
	  	 3.7
	  

	 “Event of Default”
	  	 5.1
	  

	 “Payment Block”
	  	 13.2
	 (c)

	 “Payment Notice”
	  	 13.2
	 (c)

	 “Register”
	  	 3.5
	  

	 “Registrar”
	  	 3.5
	  

 

	Section 1.2	 	Compliance Certificates and Opinions 

 
Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall
furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such
counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to
such particular application or request, no additional certificate or opinion need be furnished. 
 
Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than pursuant to Sections 2.3, 3.3 and 9.7) shall include: 
 
(a) a statement that each individual signing
such certificate or opinion has read such condition or covenant and the definitions herein relating thereto; 
 
(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 
(c) a statement that, in the opinion of each such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such condition or covenant has
been complied with; and 
 
(d) a
statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
 

7 

 

	Section 1.3	 	Form of Document Delivered to Trustee 

 
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 other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 
Any certificates or opinions of an Officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or
opinion of, or representations by, counsel, unless such Officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based
are erroneous. Any such certificate or Opinion of Counsel 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 Company stating that the information with
respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations as to such matters are erroneous. 
 
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, they may, but need not, be consolidated and form one instrument. 
 

	Section 1.4	 	Acts of Holders 

 
(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken
by the Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agent duly appointed in writing. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. 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 conclusive in
favor of the Trustee and the Company, if made in the manner provided in this Section. 
 
(b) 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 of such execution or by a certificate of a 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 a signer acting in a capacity other than his
individual capacity, 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 reasonable manner that the Trustee deems sufficient. 
 

8 

 
(c) The
ownership of Securities shall be proved by the Register. 
 
(d) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of the same Security and the holder of every Security issued upon the registration
of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security.

 
(e) If the Company shall solicit from the
Holders any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company may, at its option, by or pursuant to an Officers’ Certificate delivered to the Trustee, fix in advance a record date for the determination
of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction,
notice, consent, waiver or other Act 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 Outstanding Securities have authorized, agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Securities shall be computed as of such
record date; provided, however, 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 clause (a) of this Section 1.4 not later
than 180 days after the record date. 
 

	Section 1.5	 	Notices, Etc., to Trustee and Company 

 
Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with, 
 
(a) the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office,
Attention: Corporate Trust Trustee Administration, or 
 
(b) the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to
it at ICOS Corporation, 22021—20th Avenue Southeast, Bothell, Washington 98021, Attention: Corporate Secretary or at any other address previously furnished in writing to the Trustee by the Company. 
 

	Section 1.6	 	Notice to Holders; Waiver 

 
Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein
expressly provided or otherwise agreed to by a Holder) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at his address as it appears in the Register, within the time prescribed for the giving of such
notice. 
 

9 

 
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. Any notice mailed to a
Holder in the manner herein prescribed shall be conclusively deemed to have been received by such Holder, whether or not such Holder actually receives such notice. 
 
If by reason of the suspension of regular mail service or by reason of any other cause it shall be
impracticable to give such notice as provided above, then such notification as shall be made with the approval of the Trustee shall constitute sufficient notification for every purpose hereunder. 
 
Where this Indenture provides for notice in any manner, such
notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be equivalent to 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. 
 

	Section 1.7	 	Headings and Table of Contents 

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

 

	Section 1.8	 	Successors and Assigns 

 
All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not.

 

	Section 1.9	 	Separability 

 
In case any provision of this Indenture or the Securities 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 1.10	 	Benefits of Indenture 

 
Nothing in this Indenture or in the Securities, expressed or implied, shall give to any Person, other than the parties hereto, any
Registrar, any Paying Agent, any Authenticating Agent, and their successors hereunder, and the Holders any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 

	Section 1.11	 	Governing Law 

 
THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. This Indenture
is subject to the provisions of the Trust Indenture Act that are required to be part of this Indenture and shall, to the extent applicable, be governed by such provisions. 
 

10 

 

	Section 1.12	 	Conflict of Any Provision of Indenture With Trust Indenture Act 

 
If and to the extent that any provision of this Indenture limits, qualifies or conflicts with any provision
(an “incorporated provision”) required by or deemed to be included in this Indenture by operation of the Trust Indenture Act, such imposed duties or incorporated provisions shall control. If any provision of this Indenture modifies or
excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or excluded, as the case may be. 
 

	Section 1.13	 	No Recourse Against Others 

 
A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company
under the Securities or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by accepting any of the Securities waives and releases all such liability. 
 

	Section 1.14	 	Waiver of Trial by Jury 

 
The Company, the Trustee and the Holders hereby irrevocably and unconditionally waive the right to trial by jury in connection with any
claim arising out of or relating to the Securities and under this Indenture. 
 

	Section 1.15	 	Counterparts 

 
This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one instrument. 
 

	Section 1.16	 	Legal Holidays 

 
In any case where any Interest Payment Date, Redemption Date, sinking fund payment date, Stated Maturity or Maturity of any Security or
the last date on which a Holder has the right to convert his Securities shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or any Security other than a provision in the Securities of any
series that specifically states that such provision shall apply in lieu of this Section) payment of principal, premium, if any, or interest, or conversion of the Securities need not be made at such Place of Payment on such date, but may be made on
the next succeeding Business Day at such Place of Payment with the same force and effect as if made on such date; provided, however, that no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date,
Redemption Date, sinking fund payment date, Stated Maturity or Maturity, or on such last day for conversion, as the case may be. 
 

11 

 
ARTICLE 2

 
Security Forms 
 

	Section 2.1	 	Forms Generally 

 
The Securities of each series shall be in substantially the form set forth in this Article, or in such other form or forms as shall be
established by delivery to the Trustee of an Officers’ Certificate 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 such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be
determined by the Officers executing such Securities as evidenced by their execution of the Securities. If temporary Securities of any series are issued as permitted by Section 3.4, the form thereof also shall be established as provided in the
preceding sentence. If the form of Securities of any series are established by an Officers’ Certificate, such Officers’ Certificate shall be delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section
3.3 for the authentication and delivery of such Securities. 
 
The permanent Securities shall be printed, lithographed or engraved or produced by any combination of these methods or may be produced in any other manner, all as determined by the officers executing such Securities as evidenced by
their execution of such Securities. 
 

	Section 2.2	 	Form of Face of Security 

 
[If the Security is an Original Issue Discount Security, insert FOR PURPOSES OF SECTIONS 1273 AND 1275 OF THE UNITED STATES INTERNAL
REVENUE CODE, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ON THIS SECURITY IS            % OF ITS PRINCIPAL AMOUNT AND THE ISSUE DATE
IS            , 200  [, AND] THE YIELD TO MATURITY IS             %. [THE METHOD USED TO DETERMINE
THE YIELD IS                      AND THE AMOUNT OF ORIGINAL ISSUE DISCOUNT APPLICABLE TO THE SHORT ACCRUAL PERIOD OF
                                , 200  
TO                             , 200   IS     % OF
THE PRINCIPAL AMOUNT OF THIS SECURITY.]] 
 
ICOS
CORPORATION 
 

	 $            
	  	 No.            

 
 
ICOS CORPORATION, a corporation duly organized and existing under the laws of the state of Delaware (herein called the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                    or registered assigns, the principal sum of
                                        
Dollars ($            ) on [If the Security is to bear interest prior to Maturity,             insert, and to
pay interest thereon from                      or from the most recent Interest Payment Date to which interest has 

 

12 

been paid or duly provided for, semiannually on              and in each
year, commencing                     , [If the Security is to bear interest at a fixed rate, insert—at the rate of
        % per annum] [if the Security is to bear interest at an adjustable rate, insert—at a rate per annum computed or determined in accordance with the provisions below], until the principal
hereof is paid or made available for payment [If applicable, insert, and (to the extent that the payment of such interest shall be legally enforceable) at the rate of             %
per annum on any overdue principal and premium and on any overdue installment of interest]. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the             
or                      (whether or not a Business Day), as the case may be, the next Business Day preceding such Interest Payment Date. Any
such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special
Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as
more fully provided in said Indenture]. 
 
[If the
Security is not to bear interest prior to Maturity, insert—The principal of this Security shall not bear interest except in the case of a default in payment of principal upon acceleration or redemption or at the Stated Maturity and, in such
case, the overdue principal of this Security shall bear interest at the rate of     % per annum (to the extent that the payment of such interest shall be legally enforceable), which shall accrue from the date of such
default in payment to the date payment of such principal has been made or duly provided for. Interest on any overdue principal shall be payable on demand. Any such interest on any overdue principal that is not so paid on demand shall bear interest
at the rate of     % per annum (to the extent that the payment of such interest shall be legally enforceable), which shall accrue from the date of such demand for payment to the date payment of such interest has been made
or duly provided for, and such interest shall also be payable on demand.] 
 
Payment of the principal of (and premium, if any, on) and [If applicable, insert—any such] interest on this Security will be made at the office or agency of the Company maintained for that purpose in the city and state
of New York in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts [if applicable, insert—; provided, however, that at the option of the Company payment of
interest may be made by check mailed on or before the relevant Interest Payment Date to the address of the Person entitled thereto as such address shall appear in the Register]. 
 
Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 

13 

 
Unless the
certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 
IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed. 
 
Dated:
                     
 

	 ICOS CORPORATION

	
	 By:
	 	  

 
Attest:                                  
 

	Section 2.3	 	Form of Reverse of Security 

 
This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”) issued and to be
issued in one or more series under an Indenture, dated as of             , 200   (herein called the “Indenture”), between the Company (which term includes
any successor corporation under the Indenture) and                     , as Trustee (herein called the “Trustee,” which term
includes any successor trustee under the Indenture with respect to the series of which this Security is a part), to which the Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series
designated on the face hereof [, limited in aggregate principal amount to $ ]. 
 
Subject to and upon compliance with the provisions of the Indenture, the Holder of this Security is entitled, at his option, at any time on or before the close of business on
                         ,             , or, in case
this Security or a portion hereof is called for redemption, then in respect of this Security or such portion hereof until and including, but (unless the Company defaults in making the payment due upon redemption) not after, the close of business on
the Business Day which is 10 days prior to the Redemption Date, to convert this Security (or any portion of the principal amount hereof that is $1,000 or an integral multiple thereof), at the principal amount hereof, or any such portion, into fully
paid and non-assessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Stock of the Company at a conversion price equal to $            
aggregate principal amount of Securities for each share of Common Stock (or at the current adjusted conversion price if an adjustment has been made as provided in the Indenture), by surrender of this Security, duly endorsed or assigned to the
Company or in blank, to the Company at its office or agency in                     , accompanied by written notice to the Company that the
Holder hereof elects to convert this Security or, if less than the entire principal amount hereof is to be converted, the portion hereof to be converted, and, in case such surrender shall be made during the period from the close of business on any
Regular Record Date next 

 

14 

preceding any Interest Payment Date to the opening of business on such Interest Payment Date (unless this Security or the portion thereof
being converted has been called for redemption on a Redemption Date within such period), accompanied by payment in New York Clearing House or other funds acceptable to the Company of an amount equal to the interest payable on such Interest Payment
Date on the principal amount of this Security then being converted. Subject to the aforesaid requirement for payment and, in the case of a conversion after the Regular Record Date next preceding any Interest Payment Date and on or before such
Interest Payment Date, to the right of the Holder of this Security (or any Predecessor Security) of record at such Regular Record Date to receive an installment of interest (with certain exceptions provided in the Indenture), no payment or
adjustment is to be made on conversion for interest accrued hereon or for dividends on the Common Stock issued on conversion. No fractional shares or scrip representing fractional shares will be issued on conversion. Instead of a fractional
interest, the Company shall pay a cash adjustment as provided in the Indenture. The conversion price is subject to adjustment as provided in the Indenture. In addition, the Indenture provides that in case of certain consolidations or mergers to
which the Company is a party or the transfer of substantially all of the assets of the Company, the Indenture shall be amended, without the consent of any Holders, so that this Security, if then outstanding, will be convertible thereafter, during
the period this Security shall be convertible as specified above, only into the kind and amount of securities, cash and other property receivable upon the consolidation, merger or transfer by a holder of the number of shares of Common Stock into
which this Security might have been converted immediately prior to such consolidation, merger or transfer (assuming such holder of Common Stock failed to exercise any rights of election and received per share the kind and amount received per share
by a plurality of nonelecting shares). 
 
[If
applicable, insert—The indebtedness evidenced by the Securities is, to the extent provided in the Indenture, subordinate and subject in right of payment to the prior payment in full of all indebtedness and obligations of the Company as are
defined in the Indenture as “Senior Indebtedness,” and this Security is issued subject to the provisions of the Indenture with respect thereto. Each Holder of this Security, by accepting the same, agrees to and shall be bound by such
provisions. Each Holder of this Security, by accepting the same, agrees that each holder of Senior Indebtedness, whether created or acquired before or after the issuance of this Security, shall be deemed conclusively to have relied on such
subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness.] 
 
[If applicable, insert—The Securities of this series are subject to redemption upon not less than 30 days’ notice by mail, [if
applicable, insert(1) on              in any year commencing with the year              and ending with the year
             at a Redemption Price equal to% of the principal amount and (2)] at any time [on or after 200  ], as a whole or in part, at the election of the Company,
at the following Redemption Prices (expressed as percentages of the principal amount): If redeemed [on or before             ,     %, and if redeemed]
during the 12-month period beginning              of the years indicated, 
 

	 Year

	    	 Redemption Price

	  	 Year

	    	 Redemption Price

	 	    	 	  	 	    	 
	 	    	 	  	 	    	 

 

15 

 
and thereafter at a Redemption
Price equal to     % of the principal amount, together in the case of any such redemption with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date
will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Regular Record Dates referred to on the face hereof, all as provided in the Indenture.] 
 
[If applicable, insert—The Securities of this series are
subject to redemption upon not less than 30 days’ notice by mail, (1) on              in any year commencing with the year
                     and ending with the year              through
operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below and (2) at any time [on or after
                    ], as a whole or in part, at the election of the Company, at the Redemption Prices for redemption otherwise than through
operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month period beginning
                     of the years indicated, 
 

	 Year

	    	 Redemption Price for Redemption Through
Operation of the Sinking
Fund

	    	 Redemption Price for Redemption Otherwise
Than Through Operation of the Sinking Fund

	 	    	 	    	 
	 	    	 	    	 

 
 
and thereafter at a Redemption Price equal to     % of the principal amount, together in the case of any such redemption
(whether through operation of the sinking fund or otherwise) with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or
one or more Predecessor Securities, of record at the close of business on the relevant Regular Record Dates referred to on the face hereof, all as provided in the Indenture.] 
 
[Notwithstanding the foregoing, the Company may not, prior to
            , redeem any Securities of this series as contemplated by [clause (2) of] the preceding paragraph as a part of, or in anticipation of, any refunding operation by the
application, directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance with generally accepted financial practice) of less than     % per annum.] 
 
[The sinking fund for this series provides for the redemption
on              in each year beginning with the year                     
and ending with the year                      of [not less than]
$                     [(“mandatory sinking fund”)] and not more than
$                     aggregate principal amount of Securities of this series. [Securities of this series converted pursuant to the Indenture
or acquired or redeemed by the Company otherwise than through [mandatory] sinking fund payments may be credited against subsequent [mandatory] sinking fund payments otherwise required to be made in the [describe order] order in which they become
due.]] 
 
[In the event of redemption or conversion
of this Security in part only, a new Security or Securities of this series for the unredeemed or unconverted portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.] 
 

16 

 
[If
applicable, insert—The Securities of this series are subject to the covenant defeasance provisions set forth in Article Four of the Indenture.] 
 
[If the Security is not an Original Issue Discount Security, insert—If an Event of Default with respect to Securities of this series
shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 
 
[If the Security is an Original Issue Discount Security, insert—If an Event of Default with respect to
Securities of this series shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall be equal to—insert
formula for determining the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal and overdue interest (in each case to the extent that the payment of such interest shall be
legally enforceable), all of the Company’s obligations in respect of the payment of the principal of and interest, if any, on the Securities of this series shall terminate.] 
 
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in
principal amount of the Outstanding Securities of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Outstanding Securities of each series, on behalf of the
Holders of all Outstanding Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this
Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Security. 
 
No reference
herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the amount of principal of (and premium, if any, on) and interest, if any,
on this Security herein provided, and at the times, place and rate, and in the coin or currency, herein prescribed or to convert this Security as provided in the Indenture. 
 
As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this
Security is registrable in the Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of (and premium, if any, on) and interest, if any, on this Security are
payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new
Securities of this series, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 

17 

 
The Securities
of this series are issuable only in registered form without coupons in denominations of $                     and any integral multiple
thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series of different authorized denominations as
requested by the Holder surrendering the same. 
 
No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 
Prior to due presentment of this Security for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company nor
the Trustee nor any such agent shall be affected by notice to the contrary. 
 
All terms used in this Security that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 
FORM OF CONVERSION NOTICE 
 
To: ICOS CORPORATION 
 
The undersigned owner of this Security hereby irrevocably exercises the option to convert this Security, or
portion hereof (which is $1,000 or an integral multiple thereof) below designated, into shares of Common Stock of ICOS Corporation in accordance with the terms of the Indenture referred to in this Security, and directs that the shares issuable and
deliverable upon the conversion, together with any check in payment for fractional shares and any Securities representing any unconverted principal amount hereof, be issued and delivered to the registered holder hereof unless a different name has
been indicated below. If shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto. Any amount required to be paid by the undersigned on account of interest
accompanies this Security. 
 
Dated: 
 
Fill in for registration of shares of
Common Stock and Securities if to be issued otherwise than to the registered holder. 
 
Principal Amount to be converted (in an integral multiple of $1,000, if less than all): 
 
$                     
 

	
	  

	 Name

 

18 

	
	  

	 Address

	
	  

	 (Please print name and address (including zip code number))

 
SOCIAL SECURITY

OR OTHER TAXPAYER IDENTIFYING 
NUMBER                      
 

	Section 2.4	 	Form of Trustee’s Certificate of Authentication 

 
The Trustee’s certificate of authentication shall be in substantially the following form: 
 
This is one of the Securities of a series issued under the
within-mentioned Indenture. 
 

	
	  

	 as Trustee

 

	
	 By:
	 	  

	 	 	 Authorized Signatory

 
ARTICLE 3 
 
The
Securities 
 

	Section 3.1	 	Amount Unlimited; Issuable in Series 

 
(a) The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities
may be issued from time to time in one or more series. 
 
(b) The following matters shall be established and (subject to Section 3.3) set forth, or determined in the manner provided, in an Officers’ Certificate and a Board Resolution of the Company or one or more indentures
supplemental hereto: 
 
(1) the
title of the Securities of the series (which title shall distinguish the Securities of the series from all other Securities); 
 
(2) any limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered
under this Indenture (which limit shall not pertain to (i) Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 3.4, 3.5, 3.6, 8.6, or 10.7 and
(ii) 

 

19 

any Securities that, pursuant to the last paragraph of Section 3.3, are deemed never to have been authenticated and delivered thereunder);

 
(3) the date or dates on which
the principal of the Securities of the series is payable or the method of determination thereof; 
 
(4) the rate or rates at which the Securities of the series shall bear interest, if any, or the method of calculating such
rate or rates of interest, the date or dates from which such interest shall accrue or the method by which such date or dates shall be determined, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date, if
any, for the interest payable on any Interest Payment Date; 
 
(5) the place or places where, subject to the provisions of Section 9.2, the principal of, premium, if any, and interest, if any, on Securities of the series shall be payable; 
 
(6) the period or periods within which, the
price or prices at which, and the other terms and conditions upon which, Securities of the series may be redeemed, in whole or in part, at the option of the Company and, if other than as provided in Section 10.3, the manner in which the particular
Securities of such series (if less than all Securities of such series are to be redeemed) are to be selected for redemption; 
 
(7) the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund or
analogous provisions or upon the happening of a specified event or at the option of a Holder thereof and the period or periods within which, the price or prices at which, and the other terms and conditions upon which, Securities of the series shall
be redeemed or purchased, in whole or in part, pursuant to such obligation; 
 
(8) if other than denominations of $1,000 and any integral multiple thereof, the denominations in which Securities of the series shall be issuable; 
 
(9) if the amount of payments or principal
of, premium, if any, and interest, if any, on the Securities of the series shall be determined with reference to an index, formula or other method, the index, formula or other method by which such amounts shall be determined; 
 
(10) if other than the principal amount
thereof, the portion of the principal amount of such Securities of the series that shall be payable upon declaration of the acceleration thereof pursuant to Section 5.2 or the method by which such portion shall be determined; 
 
(11) if other than as provided in Section
3.7, the Person to whom any interest on any Security of the series shall be payable and the extent to which, or the manner in which (including any certification requirement and other terms and conditions under which), any interest payable on a
temporary Security on an Interest Payment Date will be paid if other than in the manner provided in Section 3.4, as applicable; 
 
(12) provisions, if any, granting special rights to the Holders of Securities of the series upon the occurrence of such
events as may be specified; 
 

20 

 
(13) any deletions from, modifications of or additions to the Events of Default set forth in Section 5.1 or covenants of the Company set forth in Article 9 pertaining to the Securities of the series; 
 
(14) under what circumstances, if any, the
Company will pay additional amounts on the Securities of that series held by a Person who is not a U.S. Person in respect of taxes or similar charges withheld or deducted and, if so, whether the Company will have the option to redeem such Securities
rather than pay such additional amounts (and the terms of any such option); 
 
(15) the date as of which any temporary Security representing outstanding Securities of the series shall be dated if other than the date of original issuance of the first Security of the series to be
issued; 
 
(16) the applicability,
if any, to the Securities of or within the series of Sections 4.4 and 4.5, or such other means of covenant defeasance as may be specified for the Securities of such series; 
 
(17) if other than the Trustee, the identity of the Registrar and any Paying Agent;

 
(18) any terms that may be
related to warrants issued by the Company in connection with, or for the purchase of, Securities of such series, including whether and under what circumstances the Securities of any series may be used toward the exercise price of any such warrants;

 
(19) [if applicable,
insert—any deletions from, modifications of or additions to the subordination provisions set forth in Section 13 pertaining to the Securities of the series;] 
 
(20) the terms and conditions upon which Securities of the series will be convertible into
shares of Common Stock; and 
 
(21) any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture), including any terms that may be required by or advisable under United States laws or regulations or advisable in
connection with the marketing of Securities of the series. 
 
(c) All Securities of any one series shall be substantially identical except as to denomination and the rate or rates of interest, if any, and Stated Maturity, the date from which interest, if any, shall accrue and except as may
otherwise be provided in or pursuant to an Officers’ Certificate pursuant to this Section 3.1 or in an indenture supplemental hereto. All Securities of any one series need not be issued at the same time and, unless otherwise provided, a series
may be reopened, without the consent of the Holders, for issuances of additional Securities of such series or for the establishment of additional terms with respect to the Securities of such series. 
 

21 

 
(d) If any of
the terms of the Securities of any series are established by action taken pursuant to a Board Resolution, a copy of such Board Resolution shall be certified by the Corporate Secretary or an Assistant Secretary of the Company and delivered to the
Trustee at or prior to the delivery of the Officers’ Certificate setting forth, or providing the manner for determining, the terms of the Securities of such series, and an appropriate record of any action taken pursuant thereto in connection
with the issuance of any Securities of such series shall be delivered to the Trustee prior to the authentication and delivery thereof. With respect to Securities of a series subject to a Periodic Offering, such Board Resolution or Officers’
Certificate may provide general terms for Securities of such series and provide either that the specific terms of particular Securities of such series shall be specified in a Company Order or that such terms shall be determined by the Company, or
one or more of the Company’s agents designated in an Officers’ Certificate, in accordance with the Company Order as contemplated by the third paragraph of Section 3.3. 
 

	Section 3.2	 	Denominations 

 
The Securities of each series shall be issuable only in definitive registered form without coupons and in such denominations as shall be
specified as contemplated by Section 3.1. In the absence of any such provisions with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $1,000 and any integral multiple thereof. 
 

	Section 3.3	 	Execution, Authentication, Delivery and Dating 

 
Securities shall be executed on behalf of the Company by the Chairman, President or Chief Executive Officer and attested to by the
Secretary of the Company. The Company’s seal shall be affixed to the Securities, or a facsimile of such seal shall be engraved, printed or otherwise reproduced on the Securities. The signatures of such Officers on the Securities may be manual
or facsimile signatures of the present or any future such authorized Officers and may be imprinted or otherwise reproduced on the Securities. 
 
Securities bearing the manual or facsimile signatures of individuals who were at any time the proper Officers of the Company shall bind
the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 
 
At any time and from time to time, the Company may deliver
Securities of any series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and make available for delivery such Securities, and the Trustee, in accordance with the Company Order, shall
authenticate and deliver such Securities; provided, however, that in the case of Securities offered in a Periodic Offering, the Trustee shall authenticate and deliver such Securities from time to time in accordance with such other procedures
(including, without limitation, the receipt by the Trustee of oral or electronic instructions from the Company or its duly authorized agents, promptly confirmed in writing) acceptable to the Trustee as may be specified by or pursuant to a Company
Order delivered to the Trustee prior to the time of the first authentication of Securities of such series. 
 

22 

 
If the form or
terms of the Securities of a series have been established by or pursuant to one or more Officers’ Certificates as permitted by Sections 2.1 and 3.1, in authenticating such Securities and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 315(a) through (d) of the Trust Indenture Act) shall be fully protected in relying upon, an Opinion of Counsel stating that, 
 
(a) the forms and terms of such Securities
have been established in conformity with the provisions of this Indenture and 
 
(b) such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid
and legally binding obligations of the Company, enforceable in accordance with their terms, subject to customary exceptions; 
 
provided, however, that, with respect to Securities of a series subject to a Periodic Offering, the Trustee shall be entitled to receive such Opinion of
Counsel only once at or prior to the time of the first authentication of Securities of such series and that the Opinion of Counsel above may state: 
 
(y) that the forms of such Securities have been, and the terms of such Securities (when established in accordance with
such procedures as may be specified from time to time in a Company Order, all as contemplated by and in accordance with a Board Resolution or an Officers’ Certificate pursuant to Section 3.1, as the case may be) will have been, established in
conformity with the provisions of this Indenture; and 
 
(z) that such Securities, when (1) executed by the Company, (2) completed, authenticated and delivered by the Trustee in accordance with this Indenture, and (3) issued by the Company in the manner and subject to any
conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance with their terms, subject to customary exceptions. 
 
With respect to Securities of a series subject to a Periodic
Offering, the Trustee may conclusively rely, as to the authorization by the Company of any of such Securities, the form and terms thereof and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and other
documents delivered pursuant to Sections 2.1 and 3.1, as applicable, at or prior to the time of the first authentication of Securities of such series unless and until it has received written notification that such Opinion of Counsel or other
documents have been superseded or revoked. In connection with the authentication and delivery of Securities of a series subject to a Periodic Offering, the Trustee shall be entitled to assume that the Company’s instructions to authenticate and
deliver such Securities do not violate any rules, regulations or orders of any governmental agency or commission having jurisdiction over the Company. 
 
If the form or terms of the Securities of a series have been established by or pursuant to one or more Officers’ Certificates as
permitted by Sections 2.1 and 3.1, the Trustee shall have the right to decline to authenticate such Securities if the issue of such Securities pursuant to this 

 

23 

Indenture will adversely affect the Trustee’s own rights, duties or immunities under this Indenture or otherwise in a manner that is not
reasonably acceptable to the Trustee. 
 
Notwithstanding the provisions of Section 3.1 and of the two preceding paragraphs, if all of the Securities of any series are not to be issued at one time, it shall not be necessary to deliver the Officers’ Certificate otherwise
required pursuant to Section 3.1 at or prior to the time of the authentication of each Security of such series if the Officers’ Certificate is delivered at or prior to the authentication upon original issuance of the first Security of such
series to be issued. 
 
Each Security shall be
dated the date of its authentication. 
 
No
Security shall be entitled to any benefits under this Indenture or be valid or obligatory for any purpose until authenticated by the manual signature of one of the authorized signatories of the Trustee or an Authenticating Agent. Such signature upon
any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered under this Indenture and is entitled to the benefits of this Indenture. 
 
Notwithstanding the foregoing, if any Security shall have been
authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 3.9, together with a written statement (which need not comply with
Section 1.2 and need not be accompanied by an Opinion of Counsel) stating that such Security has never been issued and sold by the Company, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and
delivered hereunder and shall not be entitled to the benefits of this Indenture. 
 

	Section 3.4	 	Temporary Securities 

 
Pending the preparation of definitive Securities of any series, the Company may execute and, upon Company Order, the Trustee shall
authenticate and deliver temporary Securities of such series that are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor and form of the definitive Securities in lieu of
which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the Officers executing such Securities may determine, as conclusively evidenced by their execution of such Securities. 
 
If temporary Securities of any series are issued, the Company
will cause permanent Securities of such series to be prepared without unreasonable delay. After preparation of such permanent Securities, the temporary Securities shall be exchangeable for such permanent Securities of like tenor upon surrender of
the temporary Securities of such series at the office or agency of the Company pursuant to Section 9.2 in a Place of Payment for such series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of
any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of permanent Securities of the same series of authorized denominations and of like tenor. Until so exchanged, the
temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as permanent Securities of such series except as otherwise specified as contemplated by Section 3.1. 
 

24 

 

	Section 3.5	 	Registration, Registration of Transfers and Exchanges 

 
The Company shall cause to be kept at the Corporate Trust Office of the Trustee or in any office or agency to be maintained by the Company
in accordance with Section 9.2 in a Place of Payment a register (the “Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities and the registration of
transfers of Securities. The Register shall be in written form or any other form capable of being converted into written form within a reasonable time. The Trustee is hereby appointed “Registrar” for the purpose of registering Securities
and transfers of Securities as herein provided. 
 
Upon surrender for registration of transfer of any Security of any series at the office or agency maintained pursuant to Section 9.2 in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate
and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any authorized denominations and of a like aggregate principal amount and tenor. 
 
At the option of the Holder, Securities of any series may be
exchanged for other Securities of the same series, of any authorized denominations and of like aggregate principal amount containing identical terms and provisions, upon surrender of the Securities to be exchanged at such office or agency.

 
Whenever any Securities are so surrendered for
exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities that the Holder making the exchange is entitled to receive. 
 
All Securities issued upon any registration of transfer or upon any exchange of Securities shall be the valid obligations of the Company,
evidencing the same debt and entitled to the same benefits under this Indenture as the Securities surrendered upon such registration of such transfer or exchange. 
 
Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by
the Company, the Registrar or the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to those of the Company, the Registrar and the Trustee requiring such written instrument of transfer duly
executed by the Holder thereof or his attorney duly authorized in writing. 
 
No service change shall be made for any registration of transfer or for any exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge
that may be imposed in connection with any registration, transfer or exchange of Securities, other than exchanges pursuant to Section 3.4 or 10.7 not involving any transfer. 
 
The Company shall not be required to (i) issue, register the transfer of, or exchange any Securities for a
period beginning at the opening of business 15 days before any selection for redemption of Securities of like tenor and of the series of which such Security is a part and ending at the close of business on the earliest date on which the relevant
notice of redemption is 

 

25 

deemed to have been given to all Holders of Securities of like tenor and of such series to be redeemed or (ii) register the transfer of or
exchange of any Security so selected for redemption, in whole or in part, except the unredeemed portion of any Security being redeemed in part. 
 
Each Holder agrees to indemnify the Company and the Trustee against any liability that may result from the transfer, exchange or
assignment of such Holder’s Security in violation of any provision of this Indenture and/or applicable United States federal or state securities law. 
 

	Section 3.6	 	Replacement Securities 

 
If a mutilated Security is surrendered to the Trustee, together with, in proper cases, such security or indemnity as may be required by
the Company or the Trustee to save each of them harmless, the Company shall execute and the Trustee shall authenticate and deliver a replacement Security of the same series and date of maturity, if the Trustee’s requirements are met.

 
If there shall be delivered to the Company and
the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be required by them to save each of them and any agency of either of them harmless, then, in the absence of
notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and the Trustee shall authenticate and deliver in lieu of any such destroyed, lost or stolen Security, a replacement
Security of the same series and principal amount, containing identical terms and provisions and bearing a number not contemporaneously outstanding. 
 
In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its
discretion may, instead of issuing a new Security, pay such Security. 
 
Upon the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses
(including the fees and expenses of the Trustee connected therewith). 
 
Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security, shall constitute an original additional contractual obligation of the Company, whether or not the destroyed,
lost or stolen Security shall be at any time enforceable by any Person, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that series duly issued hereunder. 
 
The provisions of this Section 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 Securities. 
 

26 

 

	Section 3.7	 	Payment of Interest; Interest Rights Preserved 

 
Unless otherwise provided as contemplated by Section 3.1, interest, if any, on any Security that is payable, and is punctually paid or
duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest at the office or
agency maintained for such purpose pursuant to Section 9.2; provided, however, that, at the option of the Company, interest on any series of Securities that bear interest may be paid (i) by check mailed to the address of the Person entitled thereto
as it shall appear on the Register of Securities of such series or (ii) to the extent specified as contemplated by Section 3.1, by wire transfer to an account maintained by the Person entitled thereto as specified in the Register of Securities of
such series. 
 
Unless otherwise provided as
contemplated by Section 3.1, any interest on any Security of any series that 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 Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (a) or (b) below: 
 
(a) The Company may elect to make payment of
any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) 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 Company 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 (1) provided. Thereupon the Trustee shall fix a Special Record Date
for the payment of such Defaulted Interest that shall be not more than 15 days and not 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 Company of such Special Record Date and, in the name and at the expense of the Company, 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 each Holder of Securities of such series at his address as it appears in the 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 so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record
Date and shall no longer be payable pursuant to the following clause (2). 
 
(b) The Company may make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of
business on a specified date in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the
Company to 

 

27 

the Trustee of the proposed payment pursuant to this clause (2), such manner of payment shall be deemed practicable by the Trustee.

 
Subject to the foregoing provisions of this
Section and Section 3.5, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of, any other Security shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by
such other Security. 
 
In the case of any Security
that is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (other than any Security that Maturity of which is prior to such Interest Payment Date), if Stated Maturity is on such Interest Payment
Date, the interest shall be payable on such Interest Payment Date notwithstanding such conversion, and such interest (whether or not punctually paid or duly provided for) shall be paid to the Person in whose name that Security (or one or more
Predecessor Securities) is registered at the close of business on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security that is converted, the interest thereon shall not
be payable if Stated Maturity is after the date of conversion of such Security. 
 

	Section 3.8	 	Persons Deemed Owners 

 
Prior to due presentment of any Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of, premium, if any, and (subject to Section 3.7) interest on such Security and for all other
purposes whatsoever, whether or not such Security be overdue, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary. 
 

	Section 3.9	 	Cancellation 

 
The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and any Paying Agent shall forward to the
Trustee any Securities surrendered to them for replacement, for registration of transfer, or for exchange, conversion, payment, redemption or cancellation. The Trustee shall cancel all Securities surrendered for replacement, for registration of
transfer, or for exchange, conversion, payment, redemption or cancellation and may dispose of cancelled Securities and issue a certificate of destruction to the Company. The Company may not issue new Securities to replace Securities that it has paid
or delivered to the Trustee for cancellation, except as expressly permitted in the terms of Securities for any particular series or as permitted pursuant to the terms of this Indenture. 
 

	Section 3.10	 	Computation of Interest 

 
Except as otherwise specified as contemplated by Section 3.1 (i) interest on any Securities that bear interest at a fixed rate shall be
computed on the basis of a 360-day year consisting of 12 months of 30 days each and (ii) interest on any Securities that bear interest at a variable rate shall be computed on the basis of the actual number of days in an interest period divided by
360. 
 

28 

 

	Section 3.11	 	CUSIP Numbers 

 
The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall indicate
the “CUSIP” numbers of the Securities in notices of redemption as a convenience to Holders; provided, however that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the
Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers.

 
ARTICLE 4 
 
Satisfaction, Discharge and Covenant Defeasance

 

	Section 4.1	 	Termination of Company’s Obligations Under the Indenture 

 
Except as otherwise provided as contemplated by Section 3.1, this Indenture shall upon a Company Request
cease to be of further effect with respect to Securities of or within any series (except as to any surviving rights of registration of transfer or exchange of such Securities and replacement of such Securities that may have been lost, stolen or
mutilated as herein expressly provided for) and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to such Securities when 
 
(a) either 
 
(1) all such Securities previously
authenticated and delivered (other than (i) such Securities that have been lost, stolen or mutilated and that have been replaced or paid as provided in Section 3.6, and (ii) such Securities for whose payment money has theretofore been deposited in
trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 9.3) have been delivered to the Trustee for cancellation; or 
 
(2) all Securities of such series not
theretofore delivered to the Trustee for cancellation 
 
(i) have become due and payable, or 
 
(ii) will become due and payable at their Stated Maturity within one year, or 
 
(iii) if redeemable at the option of the Company, are to be called for redemption within one year under arrangements
satisfactory to the Trustee for giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, 
 
and the Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be deposited with the Trustee as trust
funds in trust for that purpose an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for 

 

29 

cancellation, for principal, premium, if any, and interest, with respect thereto, to the date of such deposit (in the case of Securities that
have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 
 
(b) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 
 
(c) the Company has delivered to the Trustee
an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture as to such series have been complied with. 
 
Notwithstanding the satisfaction and discharge of this
Indenture, the obligation of the Company to the Trustee and any predecessor Trustee under Section 6.10, the obligations of the Company to any Authenticating Agent under Section 6.14 and, if money shall have been deposited with the Trustee pursuant
to subclause (2) of clause (a) of this Section, the obligations of the Trustee under Section 4.2 and the last paragraph of Section 9.3 shall survive. 
 

	Section 4.2	 	Application of Trust Funds 

 
Subject to the provisions of the last paragraph of Section 9.3, all money deposited with the Trustee pursuant to Section 4.1 shall be held
in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to
the Persons entitled thereto, of the principal, premium, if any, and any interest for whose payment such money has been deposited with or received by the Trustee, but such money need not be segregated from other funds except to the extent required
by law. All moneys deposited with the Trustee pursuant to Section 4.1 (and held by it or any Paying Agent) for the payment of Securities subsequently converted shall be returned to the Company upon Company Request. 
 

	Section 4.3	 	Applicability of Defeasance Provisions; Company’s Option to Effect Covenant Defeasance 

 
If pursuant to Section 3.1 provision is made for covenant
defeasance of the Securities of or within a series under Section 4.4, then the provisions of such Section, together with the provisions of Sections 4.5 through 4.7 inclusive, with such modifications thereto as may be specified pursuant to Section
3.1 with respect to any Securities, shall be applicable to such Securities, and the Company may at its option by Board Resolution, at any time, with respect to such Securities, elect to have Section 4.4 (if applicable) be applied to such Outstanding
Securities upon compliance with the conditions set forth below in this Article. 
 

	Section 4.4	 	Covenant Defeasance 

 
Upon the Company’s exercise of the option specified in Section 4.3 applicable to this Section with respect to any Securities of or
within a series, the Company shall be released from its obligations under Sections 7.1, 9.4 and 9.5, and, if specified pursuant to Section 3.1, its obligations under any other covenant, with respect to such Securities on and after the date the

 

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conditions set forth in Section 4.5 are satisfied (hereinafter, “covenant defeasance”), and such Securities shall thereafter be
deemed to be not “Outstanding” for the purposes of any direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in connection with Sections 7.1, 9.4 and 9.5, or such other covenant, but shall
continue to be deemed “Outstanding” for all other purposes hereunder. For this purpose, such covenant defeasance means that, with respect to such Securities, the Company may omit to comply with and shall have no liability in respect of any
term, condition or limitation set forth in any such Section or such other covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such Section or such other covenant or by reason of reference in any such Section
or such other covenant to any other provision herein or in any other document, and such omission to comply shall not constitute a Default or an Event of Default under Section 5.1(3) or 5.1(7) or otherwise, as the case may be, but, except as
specified above, the remainder of this Indenture and such Securities shall be unaffected thereby. 
 

	Section 4.5	 	Conditions to Covenant Defeasance 

 
The following shall be the conditions to application of Section 4.4 to any Securities of or within a series: 
 
(a) The Company shall have deposited or
caused to be deposited irrevocably with the Trustee (or another trustee satisfying the requirements of Section 6.11 who shall agree to comply with, and shall be entitled to the benefits of, the provisions of Sections 4.3 through 4.7 inclusive and
the last paragraph of Section 9.3 applicable to the Trustee, for purposes of such Sections also a “Trustee”) as trust funds in trust for the purpose of making the payments referred to in clauses (y) and (z) of this Section 4.5(a),
specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities, with instructions to the Trustee as to the application thereof, (i) money in an amount, or (ii) if Securities of such series are not
subject to repayment at the option of Holders, Government Obligations that through the payment of interest and principal in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment
referred to in clause (y) or (z) of this Section 4.5(a), money in an amount, or (iii) a combination thereof in an amount sufficient to pay and discharge, and which shall be applied by the Trustee to pay and discharge, (y) the principal of, premium,
if any, and interest, if any, on such Securities on the Maturity of such principal or installment of principal or interest and (z) any mandatory sinking fund payments applicable to such Securities on the day on which such payments are due and
payable in accordance with the terms of this Indenture and such Securities. Before such a deposit the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date or dates in accordance with Article 10
that shall be given effect in applying the foregoing. 
 
(b) Such covenant defeasance shall not result in a breach or violation of, or constitute a Default or Event of Default under, this Indenture or result in a breach or violation of, or constitute a default under, any other
material agreement or instrument to which the Company is a party or by which it is bound. 
 

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(c) No Default or Event of Default under Section 5.1(5) or 5.1(6) with respect to such Securities shall have occurred and be continuing during the period commencing on the date of such deposit and ending on the 91st day after such
date (it being understood that this condition shall not be deemed satisfied until the expiration of such period). 
 
(d) The Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such
Securities will not recognize income, gain or loss for federal income tax purposes as a result of such covenant defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the
case if such covenant defeasance had not occurred. 
 
(e) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent to the covenant defeasance under Section 4.4 have been complied with and
an Opinion of Counsel to the effect that either (i) as a result of a deposit pursuant to subsection (a) above and the related exercise of the Company’s option under Section 4.4, registration is not required under the Investment Company Act of
1940, as amended, by the Company, with respect to the trust funds representing such deposit or by the Trustee for such trust funds or (ii) all necessary registrations under said act have been effected. 
 
(f) Such covenant defeasance shall be
effected in compliance with any additional or substitute terms, conditions or limitations that may be imposed on the Company in connection therewith as contemplated by Section 3.1. 
 

	Section 4.6	 	Deposited Money and Government Obligations to Be Held in Trust 

 
Subject to the provisions of the last paragraph of Section 9.3, all money and Government Obligations (or
other property as may be provided pursuant to Section 3.1) (including the proceeds thereof) deposited with the Trustee pursuant to Section 4.5 in respect of any Securities of any series shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities
of all sums due and to become due thereon in respect of principal, premium, if any, and interest, if any, but such money need not be segregated from other funds except to the extent required by law. 
 

	Section 4.7	 	Transfers and Distribution at Company Request 

 
To the extent permitted by the Financial Accounting Standards Board Statement of Financial Accounting Standards No. 76, as amended or
interpreted by the Financial Accounting Standards Board from time to time, or any successor thereto (“Standard No. 76”), or to the extent permitted by the Commission, the Trustee shall, from time to time, take one or more of the following
actions as specified in a Company Request: 
 
(a) Retransfer, reassign and deliver to the Company any securities deposited with the Trustee pursuant to Section 4.5(a), provided that the Company shall, in substitution therefor, 
 

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simultaneously transfer, assign and deliver to the Trustee other Government Obligations appropriate to satisfy the Company’s obligations
in respect of the relevant Securities; and 
 
(b) The Trustee (and any Paying Agent) shall promptly pay to the Company upon Company Request any excess money or securities held by it at any time, including, without limitation, any assets deposited with the Trustee pursuant to
Section 4.5(a) exceeding those necessary for the purposes of Section 4.5(a). 
 
The Trustee shall not take the actions described in subsections (a) and (b) of this Section 4.7 unless it shall have first received a written report of a nationally recognized independent public
accounting firm, (i) expressing its opinion that the contemplated action is permitted by Standard No. 76 or the Commission for transactions accounted for as extinguishment of debt under the circumstances described in paragraph 3.c of Standard No. 76
or any successor provision and (ii) verifying the accuracy, after giving effect to such action or actions, of the computations that demonstrate that the amounts remaining to be earned on the Government Obligations deposited with the Trustee pursuant
to Section 4.5(a) will be sufficient for purposes of Section 4.5(a). 
 
ARTICLE 5 
 
Defaults and Remedies 
 

	Section 5.1	 	Events of Default 

 
An “Event of Default” occurs with respect to the Securities of any series if (whatever the reason for such Event of Default and
whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 
 
(a) the Company defaults in the payment of
interest on any Security of that series or any additional amount payable with respect to any Security of that series as specified pursuant to Section 3.1(b)(14) when the same becomes due and payable and such default continues for a period of 90
days; 
 
(b) the Company defaults
in the payment of the principal of or any premium on any Security of that series when the same becomes due and payable at its Maturity or on redemption or otherwise, or in the payment of a mandatory sinking fund payment when and as due by the terms
of the Securities of that series, and in each case such default continues for a period of 10 days; 
 
(c) the Company defaults in the performance of, or breaches, any covenant or warranty of the Company in this Indenture
with respect to any Security of that series (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with), and such default or breach continues for a period of 60 days after
there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding 

 

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Securities of that series, a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is
a “Notice of Default” hereunder; 
 
(d) the Company defaults under the terms of any agreement or instrument evidencing or under which the Company has at the date of this Indenture or hereafter outstanding any indebtedness for borrowed money and such indebtedness shall
be accelerated so that the same shall be or become due and payable prior to the date on which the same would otherwise become due and payable and the aggregate principal amount thereof so accelerated exceeds $50 million and such acceleration is not
rescinded or annulled within 10 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding
Securities of that series a written notice specifying such default and stating that such notice is a “Notice of Default” hereunder (it being understood, however, that, subject to the provisions of Section 6.1, the Trustee shall not be
deemed to have knowledge of such default under such agreement or instrument unless either (i) a Responsible Officer of the Trustee shall have actual knowledge of such default or (ii) a Responsible Officer of the Trustee shall have received written
notice thereof from the Company, from any Holder, from the holder of any such indebtedness or from the trustee under any such agreement or other instrument); provided, however, that if such default under such agreement or instrument is remedied or
cured by the Company or waived by the holders of such indebtedness, then the Event of Default hereunder by reason thereof shall be deemed likewise to have been thereupon remedied, cured or waived without further action upon the part of either the
Trustee or any of such Holders; 
 
(e) the Company pursuant to or within the meaning of any Bankruptcy Law (as defined below) (i) commences a voluntary case, (ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the
appointment of a Custodian (as defined below) of it or for all or substantially all of its property, or (iv) makes a general assignment for the benefit of its creditors; 
 
(f) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law (as
defined below) that (i) is for relief against the Company in an involuntary case, (ii) appoints a Custodian of the Company or for all or substantially all of its property, or (iii) orders the liquidation of the Company, and the order or decree
remains unstayed and in effect for 90 consecutive days; or 
 
(g) any other Event of Default provided as contemplated by Section 3.1 with respect to Securities of that series. 
 
The term “Bankruptcy Law” means Title 11, U.S. Code, as amended from time to time, or any similar
federal or state law for the relief of debtors. The term “Custodian” means any custodian, receiver, trustee, assignee, liquidator or other similar official under any Bankruptcy Law. 
 

	Section 5.2	 	Acceleration, Rescission and Annulment 

 
If an Event of Default with respect to the Securities of any series at the time Outstanding occurs and is continuing, the Trustee or the
Holders of at least 25% in aggregate principal 

 

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amount of all of the outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to the Trustee),
may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed Securities, such portion of the principal amount as may be specified in the terms of that series) of all the Securities of that series
to be due and payable and upon any such declaration such principal (or, in the case of original Issue Discount Securities or Indexed Securities, such specified amount) shall be immediately due and payable. 
 
At any time after such a declaration of acceleration with
respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article, the Holders of a majority in aggregate principal amount of the
outstanding Securities of that series, by written notice to the Trustee, may rescind and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that series, other than the nonpayment
of the principal of Securities of that series that has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.7. No such rescission shall affect any subsequent default or impair any right consequent
thereon. 
 

	Section 5.3	 	Collection of Indebtedness and Suits for Enforcement by Trustee 

 
The Company covenants that if 
 
(a) default is made in the payment of any interest on any Security when such interest becomes
due and payable and such default continues for a period of 90 days or 
 
(b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof and such default continues for a period of 10 days, 
 
the Company will, upon demand of the Trustee, pay to it, for the benefit of
the Holders of such Securities, the whole amount then due and payable on such Securities for principal, premium, if any, and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal,
premium, if any, and on any overdue interest, at the rate or rates prescribed therefor in such Securities, 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. 
 
If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of
Securities of such series 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. 
 

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	Section 5.4	 	Trustee May File Proofs of Claim 

 
The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of
the Trustee and the Holders allowed in any judicial proceedings relating to the Company, its creditors or its property. 
 

	Section 5.5	 	Trustee May Enforce Claims Without Possession of Securities 

 
All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the
Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto. 
 

	Section 5.6	 	Delay or Omission Not Waiver 

 
No delay or omission by the Trustee or any Holder of any Securities to exercise any right or remedy accruing upon an Event of Default
shall impair any such right or remedy or constitute a waiver of or acquiescence in any such Event of Default. 
 

	Section 5.7	 	Waiver of Past Defaults 

 
The Holders of a majority in aggregate principal amount of Outstanding Securities of any series by notice to the Trustee may waive on
behalf of the Holders of all Securities of such series a past Default or Event of Default with respect to that series and its consequences except (i) a Default or Event of Default in the payment of the principal of, premium, if any, or interest on
any Security of such series or (ii) in respect of a covenant or provision hereof that pursuant to Section 8.2 cannot be amended or modified without the consent of the Holder of each Outstanding Security of such series adversely affected. 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. 
 

	Section 5.8	 	Control by Majority 

 
The Holders of a majority in aggregate principal amount of the Outstanding Securities of each series affected (with each such series
voting as a class) shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it with respect to Securities of that series; provided,
however, that (i) the Trustee may refuse to follow any direction that conflicts with law or this Indenture, (ii) the Trustee may refuse to follow any direction that is unduly prejudicial to the rights of the Holders of such series not consenting, or
that would in the good-faith judgment of the Trustee have a substantial likelihood of involving the Trustee in personal liability, and (iii) the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such
direction. 
 

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	Section 5.9	 	Limitation on Suits by Holders 

 
No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 
(a) the Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the
Securities of that series; 
 
(b)
the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that 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;

 
(c) such Holder or Holders have
offered to the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense to be, or which may be, incurred by the Trustee in pursuing the remedy; 
 
(d) the Trustee for 60 days after its receipt of such notice, request and the offer of
indemnity has failed to institute any such proceedings; and 
 
(e) during such 60-day period, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series have not given to the Trustee a direction inconsistent with such
written request. 
 
No one or more Holders 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 of such Holders, or to obtain or to seek to obtain priority or preference over any other
of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 
 

	Section 5.10	 	Rights of Holders to Receive Payment 

 
Notwithstanding any other provision of this Indenture, the right of any Holder of a Security to receive payment of principal of, premium,
if any, and, subject to Section 3.7, interest on the Security, on or after the respective due dates expressed in the Security (or, in case of redemption, on the Redemption Dates) and to convert such Security in accordance with Article 12 and,
subject to Section 5.9, to bring suit for the enforcement of any such payment and right to convert on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 
 

	Section 5.11	 	Application of Money Collected 

 
If the Trustee collects any money pursuant to this Article, it shall pay out the money 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, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if
fully paid: 
 

37 

 
First: to the
Trustee for amounts due under Section 6.9; 
 
Second: to Holders of Securities in respect of which or for the benefit of which such money has been collected for amounts due and unpaid on such Securities for principal of, premium, if any, and interest, ratably, without preference
or priority of any kind, according to the amounts due and payable on such Securities for principal, premium, if any, and interest, respectively; and 
 
Third: to the Company. 
 

	Section 5.12	 	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, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall 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 5.13	 	Rights and Remedies Cumulative 

 
Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 3.6, no right or remedy herein conferred upon or reserved to the Trustee or the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative
and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy. 
 
ARTICLE 6 
 
The Trustee

 

	Section 6.1	 	Certain Duties and Responsibilities 

 
(a) Except during the continuance of an Event of Default, 
 
(1) the Trustee undertakes to perform such duties and only such duties as are specifically
set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 
(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions that by any provision hereof are

 

38 

specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they
conform to the requirements of this Indenture. 
 
(b) In case an Event of Default has occurred and is continuing with respect to the Securities of any series, the Trustee shall exercise such of the rights and powers vested in it by this Indenture with respect to the Securities of
such series, 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 own affairs. 
 
(c) 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: 
 
(1) this subjection shall not be construed to limit the effect of subsection (a) of this Section; 
 
(2) 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; and 
 
(3) 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 a majority in principal amount of the Outstanding Securities of any series relating to the time, method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series. 
 
(d) No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial 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. 
 
(e) 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. 
 

	Section 6.2	 	Rights of Trustee 

 
Subject to the provisions of the Trust Indenture Act: 
 
(a) 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, note or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or
parties. 
 

39 

 
(b) Any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order (other than delivery of any Security to the Trustee for authentication and delivery pursuant to
Section 3.3, which shall be sufficiently evidenced as provided therein) and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution. 
 
(c) 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 Officers’
Certificate. 
 
(d) The Trustee
may consult with counsel of its selection and the written advice of such counsel or 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. 
 
(e) 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 that might be incurred by it in compliance with such request or direction. 
 
(f) 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, note 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 Company, personally or by agent or attorney. 
 
(g) The Trustee may act through agents or
attorneys and shall not be responsible for the misconduct or negligence of any agent or attorney appointed with due care. 
 
(h) The Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be
authorized or within its rights or powers. 
 
(i) The Trustee shall not be required to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise 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. 
 

	Section 6.3	 	Trustee May Hold Securities 

 
The Trustee, any Paying Agent, any Registrar or any other agent of the Company, in its individual or any other capacity, may become the
owner or pledgee of Securities and, subject to Sections 310(b) and 311 of the Trust Indenture Act, may otherwise deal with the Company, an Affiliate or Subsidiary with the same rights it would have if it were not Trustee, Paying Agent, Registrar or
such other agent. 
 

40 

 

	Section 6.4	 	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 Company. 
 

	Section 6.5	 	Trustee’s Disclaimer 

 
The recitals contained herein and in the Securities, except the Trustee’s certificate of authentication, shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities. The Trustee shall not be accountable for the
Company’s use of the proceeds from the Securities or for monies paid over to the Company pursuant to the Indenture. 
 

	Section 6.6	 	Notice of Defaults 

 
If a Default occurs and is continuing with respect to the Securities of any series and if it is known to the Trustee, the Trustee shall,
within 90 days after it occurs, transmit, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, notice of all uncured Defaults known to it; provided, however, that, except in the case of a Default in payment on the
Securities of any series, the Trustee may withhold the notice if and so long as the board of directors, the executive committee or a committee of its Responsible Officers in good faith determines that withholding such notice is in the interests of
Holders of the Securities of that series; provided further that, in the case of any default or breach of the character specified in Section 5.1(c) with respect to the Securities of such series, no such notice to Holders shall be given until at least
60 days after the occurrence thereof. 
 

	Section 6.7	 	Reports by Trustee to Holders 

 
Within 60 days after each May 15 of each year commencing with the first May 15 after the first issuance of Securities pursuant to this
Indenture, the Trustee shall transmit by mail to all Holders of Securities as provided in Section 313(c) of the Trust Indenture Act a brief report dated as of such May 15 if required by Section 313(a) of the Trust Indenture Act. The Trustee also
shall comply with Section 313(b) and (d) of the Trust Indenture Act. 
 

	Section 6.8	 	Securityholder Lists 

 
The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and
addresses of Holders of Securities of each series. If the Trustee is not the Registrar, the Company shall furnish to the Trustee semiannually on or before the last day of June and December in each year, and at such other times as the Trustee may
request in writing, a list, in such form and as of such date as the Trustee may reasonably require, containing all the information in the possession of the Registrar, the Company or any of its Paying Agents other than the Trustee as to the names and
addresses of Holders of Securities of each such series. 
 

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	Section 6.9	 	Compensation and Indemnity 

 
(a) The Company shall pay to the Trustee from time to time such compensation as shall be agreed between the Company and the Trustee for
all services rendered by it hereunder. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses
incurred by it in connection with the performance of its duties under this Indenture, except any such expense as may be attributable to its negligence or bad faith. Such expenses shall include the reasonable compensation and expenses of the
Trustee’s agents and counsel. 
 
(b) The
Company shall indemnify the Trustee for, and hold it harmless against, any loss, liability or expense incurred by it without negligence or bad faith on its part arising out of or in connection with its acceptance or administration of the trust or
trusts hereunder. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and the Company
shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent. 
 
(c) The Company need not reimburse any expense or indemnify against any loss or liability incurred by the Trustee through negligence or
bad faith. 
 
(d) To secure the payment obligations
of the Company pursuant to this Section, the Trustee shall have a lien prior to the Securities of any series on all money or property held or collected by the Trustee, except that held in trust to pay principal, premium, if any, and interest on
particular Securities. 
 
(e) When the Trustee
incurs expenses or renders services in connection with an Event of Default specified in Section 5.1(e) or Section 5.1(f), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended
to constitute expenses of administration under any applicable Bankruptcy Law or other similar law. 
 
(f) The provisions of this Section shall survive the termination of this Indenture. 
 

	Section 6.10	 	Replacement of Trustee 

 
(a) The resignation or removal of the Trustee and the appointment of a successor Trustee shall become effective only upon the successor
Trustee’s acceptance of appointment as provided in Section 6.11. 
 
(b) The Trustee may resign at any time with respect to the Securities of any series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 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 Securities of
such series. 
 

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(c) The
Holders of a majority in aggregate principal amount of the Outstanding Securities of any series may remove the Trustee with respect to that series by so notifying the Trustee and the Company, and may appoint a successor Trustee for such series with
the Company’s consent. 
 
(d) If at any time:

 
(1) the Trustee fails to comply
with Section 310(b) of the Trust Indenture Act after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least 180 days; or 
 
(2) the Trustee shall cease to be eligible under Section 310(a) of the Trust Indenture Act
and shall fail to resign after written request therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least 180 days; or 
 
(3) the Trustee becomes incapable of acting, is adjudged a bankrupt or an insolvent or a
receiver or public officer takes charge of the Trustee or its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
 
then, in any such case, (i) the Company by or pursuant to a Board Resolution may remove the Trustee with respect to all Securities, or (ii) subject to
Section 315(e) of the Trust Indenture Act, any Holder who has been a bona fide Holder of a Security for at least 180 days 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 Securities and the appointment of a successor Trustee or Trustees. 
 
(e) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, with respect to Securities of one
or more series, the Company, by or pursuant to Board Resolution, shall promptly appoint a successor Trustee with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to
the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 6.11. If, within one year
after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding
Securities of such series delivered to the Company 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 6.11, become the
successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the
Company or the Holders and accepted appointment in the manner required by Section 6.11, any Holder who has been a bona fide Holder of a Security of such series for at least 180 days 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 Securities of such series. 
 

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	Section 6.11	 	Acceptance of Appointment by Successor 

 
(a) In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee shall
execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment. Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee, without further
act, deed or conveyance, shall become vested with all the rights, powers and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, 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.

 
(b) In case of the appointment hereunder of a
successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and such successor Trustee shall execute and deliver an indenture supplemental hereto wherein such successor Trustee shall accept
such appointment and which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, such successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates, (ii) if the retiring Trustee is not retiring with respect to all Securities, 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 Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii)
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 Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company 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 Securities of that or those series to which the appointment of such
successor Trustee relates. 
 
(c) Upon request of
any such successor Trustee, the Company 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 paragraph (a) or (b) of this Section, as
the case may be. 
 

44 

 
(d) No
successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under the Trust Indenture Act. 
 
(e) The Company shall give notice of each resignation and each removal of the Trustee with respect to the
Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series in the manner provided for notices to the Holders of Securities in Section 1.6. Each notice shall include the name of the successor
Trustee with respect to the securities of such series and the address of its Corporate Trust office. 
 

	Section 6.12	 	Eligibility; Disqualification 

 
There shall at all times be a Trustee hereunder that shall be eligible to act as Trustee under Section 310(a)(1) of the Trust Indenture
Act and shall have a combined capital and surplus of at least $50 million. If such corporation publishes reports of condition at least annually, pursuant to law or the requirements of federal, state, territorial or District of Columbia supervising
or examining authority, then for the purposes of this Section, 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, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 
 

	Section 6.13	 	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 the corporate trust business of the Trustee, shall be the successor of the
Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have
been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect
as if such successor Trustee had itself authenticated such Securities. 
 

	Section 6.14	 	Appointment of Authenticating Agent 

 
The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities that shall be authorized to act
on behalf of the Trustee to authenticate Securities of such series issued upon original issue exchange, registration of transfer, partial conversion or partial redemption thereof, and Securities 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. Any such appointment shall be evidenced by an instrument in writing signed by a Responsible Officer of the Trustee, a copy of which
instrument shall be promptly furnished to the Company. Wherever reference is made in this Indenture to the authentication and delivery of Securities 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 
 

45 

Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and, except as may otherwise be provided pursuant to
Section 3.1, shall at all times be a bank or trust company or corporation organized and doing business and in good standing under the laws of the United States of America or of any State or the District of Columbia, authorized under such laws to act
as Authenticating Agent, having a combined capital and surplus of not less than $10 million and subject to supervision or examination by federal or state authorities. If such Authenticating Agent publishes reports of condition at least annually,
pursuant to law or the requirements of the aforesaid supervising or examining authority, then, for the purposes of this Section, 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. In case at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner
and with the effect specified in this Section. 
 
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 that such corporation shall be otherwise eligible under this Section
without the execution or filing of any paper or further act on the part of the Trustee or the Authenticating Agent. 
 
An Authenticating Agent for any series of Securities may at any time resign by giving written notice of resignation to the Trustee for
such series and to the Company. The Trustee for any series of Securities may at any time terminate the agency of an Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. 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, the Trustee for such series may appoint a successor Authenticating Agent
which shall be acceptable to the Company and shall give notice of such appointment to all the Holders of Securities of the series with respect to which such Authenticating Agent will serve in the manner set forth in Section 1.6. 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 herein. No successor
Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 
 
The Company agrees to pay to each Authenticating Agent from time to time reasonable compensation, including reimbursement of its reasonable expenses for its services under this Section. 
 
If an appointment with respect to one or more series is made
pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to or in lieu of the Trustee’s certificate of authentication, an alternate certificate of authentication substantially in the following form:

 
This is one of the Securities of a series
issued under the within-mentioned Indenture. 
 

46 

 

	

	 as Trustee

	
	 By:
	 	  

	 	 	 as Authenticating Agent

	
	 By:
	 	  

	 	 	 Authorized Officer

 

	Section 6.15	 	Trustee’s Application for Instructions From the Company 

 
Any application by the Trustee for written instructions from the Company may, at the option of the Trustee,
set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action
taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than 15 Business Days after the date any Officer of the Company
actually receives such application, unless any such Officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the Trustee shall have received written
instructions in response to such application specifying the action to be taken or omitted. 
 
ARTICLE 7 
 
Consolidation, Merger or Sale by the Company 
 
The Company may merge or consolidate with or into any other corporation or sell, convey, transfer, lease or otherwise dispose of all or substantially all of its assets to any person, firm or corporation, if (i) (A) in the
case of a merger or consolidation, the Company is the surviving corporation or (B) in the case of a merger or consolidation where the Company is not the surviving corporation and in the case of any such sale, conveyance or other disposition, the
successor or acquiring corporation is a corporation organized and existing under the laws of the United States or a state thereof and such corporation expressly assumes by supplemental indenture all of the obligations of the Company under the
Securities and under this Indenture and shall have provided for conversion rights in accordance with Section 12.11, (ii) immediately thereafter, giving effect to such merger or consolidation, or such sale, conveyance, transfer or other disposition,
no Default or Event of Default shall have occurred and be continuing and (iii) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that such merger or consolidation, or such sale, conveyance,
transfer or other disposition, complies with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. In the event of the assumption by a successor corporation of the obligations of the
Company as provided in clause (i)(B) of the immediately preceding sentence, such successor corporation shall succeed to and be substituted for the Company hereunder and under the Securities and all such obligations of the Company shall terminate.

 

47 

 
ARTICLE 8

 
Supplemental Indentures 
 

	Section 8.1	 	Supplemental Indentures Without Consent of Holders 

 
Without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to
time, may enter into indentures supplemental hereto, in form reasonably satisfactory to the Trustee, for any of the following purposes: 
 
(a) to evidence the succession of another corporation to the Company and the assumption by any such successor of the
covenants of the Company herein and in the Securities; or 
 
(b) to add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities,
stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon the Company; or 
 
(c) to add any additional Events of Default with respect to all or any series of Securities;
or 
 
(d) to add to or change any
of the provisions of this Indenture to such extent as shall be necessary to facilitate the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to facilitate the issuance of
Securities in global form; or 
 
(e) to add to, change or eliminate any of the provisions of this Indenture, provided that any such addition, change or elimination shall become effective only when there is no Security Outstanding of any series created prior to the
execution of such supplemental indenture that is entitled to the benefit of such provision; or 
 
(f) to secure the Securities; or 
 
(g) to establish the form or terms of Securities of any series as permitted by Sections 2.1
and 3.2; or 
 
(h) to evidence and
provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 6.10; or 
 

48 

 
(i) to make provision with respect to the conversion rights of Holders pursuant to the requirements of Section 12.11; or 
 
(j) to correct or supplement any provision herein that may be inconsistent with any other provision herein or to make any
other provisions with respect to matters or questions arising under this Indenture, provided such action shall not adversely affect the interests of the Holders of Securities of any series in any material respect, or to cure any ambiguity or correct
any mistake. 
 

	Section 8.2	 	With Consent of Holders 

 
With the written consent of the Holders of a majority of the aggregate principal amount of the Outstanding Securities of all series
adversely affected by such supplemental indenture (with all such affected series acting together as a single class), the Company and the Trustee may enter into an indenture or indentures supplemental hereto to add any provisions to or to change or
eliminate any provisions of this Indenture or of any other indenture supplemental hereto or to modify the rights of the Holders of Securities of each such series; provided, however, that without the consent of the Holder of each Outstanding Security
affected thereby, an amendment under this Section may not: 
 
(a) change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any
premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2, or change the
coin or currency in which, any Securities or any premium or the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or
after the Redemption Date), or adversely affect the right to convert any Security as provided in Article 12 (except as permitted by Section 8.1(i)) [if applicable, insert—, or modify the provisions of this Indenture with respect to the
subordination of the Securities in a manner adverse to the Holders]; 
 
(b) reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders
is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture; 
 
(c) change any obligation of the Company to maintain an office or agency in the places and
for the purposes specified in Section 9.2; or 
 
(d) make any change in Section 5.7 or this Section 8.2 except to increase any percentage or to provide that certain other provisions of this Indenture cannot be modified or waived with the consent of the Holders of each Outstanding
Security affected thereby. 
 
A supplemental
indenture that changes or eliminates any covenant or other provision of this Indenture that has expressly been included solely for the benefit of one or more particular 
 

49 

series of Securities, or that modifies the rights of the Holders of Securities of such series with respect to such covenant or other
provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 
 
It is not necessary under this Section 8.2 for the Holders to consent to the particular form of any proposed supplemental indenture, but
it is sufficient if they consent to the substance thereof. 
 

	Section 8.3	 	Compliance With Trust Indenture Act 

 
Every supplemental indenture executed pursuant to this Article shall comply with the requirements of the Trust Indenture Act as then in
effect. 
 

	Section 8.4	 	Execution of Supplemental Indentures 

 
In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modification
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by
this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 

	Section 8.5	 	Effect of Supplemental Indentures 

 
Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 
 

	Section 8.6	 	Reference in Securities to Supplemental Indentures 

 
Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and
shall, if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the
opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities. 
 

50 

 
ARTICLE 9

 
Covenants 
 

	Section 9.1	 	Payment of Principal, Premium, if Any, and Interest 

 
The Company covenants and agrees for the benefit of the Holders of each series of Securities that it will duly and punctually pay the
principal of, premium, if any, and interest on the Securities of that series in accordance with the terms of the Securities of such series and this Indenture. An installment of principal or interest shall be considered paid on the date it is due if
the Trustee or Paying Agent holds on that date money designated for and sufficient to pay the installment. 
 

	Section 9.2	 	Maintenance of Office or Agency 

 
The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be
presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange, where Securities may be surrendered for conversion and where notices and demands to or upon the Company in respect of
the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of any such office or agency. If at any time the Company shall fail to
maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby
appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 
The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be
presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or
agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency.

 
Unless otherwise specified as contemplated by
Section 3.1, the Trustee shall initially serve as Paying Agent. 
 

	Section 9.3	 	Money for Securities to Be Held in Trust; Unclaimed Money 

 
If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it
will, on or before each due date of the principal of, premium, if any, or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, premium,
if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee in writing of its action or failure so to act. 
 

51 

 
The Company
will cause each Paying Agent for any series of Securities 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, that such Paying
Agent will: 
 
(a) hold all sums
held by it for the payment of the principal of, premium, if any, or interest on Securities of that series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein
provided; 
 
(b) give the Trustee
notice of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment of principal, premium, if any, or interest on the Securities; and 
 
(c) 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 Company may at any time, for the purpose of obtaining the satisfaction and 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 Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company 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. 
 
Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the
payment of any principal, premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall be paid to the Company on Company Request, or (if
then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent
with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the
Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in The City of New York, or cause to be mailed to such Holder, notice that such money remains
unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
 

	Section 9.4	 	Corporate Existence 

 
Subject to Article 7, the Company will at all times do or cause to be done all things necessary to preserve and keep in full force and
effect its corporate existence and its rights and franchises; provided, however, that nothing in this Section 9.4 shall prevent the abandonment or termination of any right or franchise of the Company if, in the opinion of the Company, such
abandonment or termination is in the best interests of the Company and does not materially adversely affect the ability of the Company to operate its business or to fulfill its obligations hereunder. 
 

52 

 

	Section 9.5	 	Insurance 

 
The Company covenants and agrees that it will maintain, and cause each of its Subsidiaries to maintain, insurance with responsible and
reputable insurance companies or associations or through a program of self-insurance in such amounts and covering such risks as are consistent with sound business practice for corporations engaged in the same or a similar business similarly
situated. 
 

	Section 9.6	 	Reports by the Company 

 
The Company covenants: 
 
(a) to file with the Trustee, within 30 days after the Company is required to file the same with the Commission, copies of
the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company may be required to file with the
Commission pursuant to Section 13 or Section 15(d) of the Exchange Act, or, if the Company is not required to file information, documents or reports pursuant to either of such sections, then to file with the Trustee and the Commission, in accordance
with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports that may be required pursuant to Section 13 of the Exchange Act, in respect of a security listed and
registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 
 
(b) to file with the Trustee and the Commission, in accordance with the rules and regulations prescribed from time to time
by the Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants provided for in this Indenture, as may be required from time to time by such rules and regulations; and

 
(c) to transmit to all Holders
of Securities, within 30 days after the filing thereof with the Trustee, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, such summaries of any information, documents and reports required to be filed by the
Company pursuant to subsections (a) and (b) of this Section 9.6, as may be required by rules and regulations prescribed from time to time by the Commission. 
 

	Section 9.7	 	Annual Review Certificate; Notice of Default 

 
The Company covenants and agrees to deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, a brief
certificate from the principal executive officer, principal financial officer, or principal accounting officer as to his knowledge of the Company’s compliance with all conditions and covenants under this Indenture. For purposes of this Section
9.7, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. The Company shall file with the Trustee written notice of the occurrence of any Event of Default within 30
Business Days of its becoming aware of any such Event of Default. 
 

53 

 

	Section 9.8	 	Provision of Financial Statements 

 
If the Company is not required to file with the Commission periodic reports and other information pursuant to Section 13(a), 13(c) or
15(d) of the Exchange Act, the Company shall furnish without cost to each Holder and file with the Trustee (i) within 135 days after the end of each fiscal year, annual reports containing the information required to be contained in Items 1, 2, 3, 5,
6, 7, 8 and 9 of Form 10-K promulgated under the Exchange Act, or substantially the same information required to be contained in comparable items of any successor form, (ii) within 60 days after the end of each of the first three fiscal quarters of
each fiscal year, quarterly reports containing the information required to be contained in Form 10-Q promulgated under the Exchange Act, or substantially the same information required to be contained in any successor form and (iii) promptly from the
time after the occurrence of an event required to be therein reported, such other reports containing information required to be contained in Form 8-K promulgated under the Exchange Act, or substantially the same information required to be contained
in any successor form. The Company shall also make such reports available to prospective purchasers of the Securities, securities analysts and broker-dealers upon their request. 
 
ARTICLE 10 
 
Redemption 
 

	Section 10.1	 	Applicability of Article 

 
Securities of any series that are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except
as otherwise specified as contemplated by Section 3.1 for Securities of any series) in accordance with this Article. 
 

	Section 10.2	 	Election to Redeem; Notice to Trustee 

 
The election of the Company to redeem any Securities shall be evidenced by or pursuant to a Board Resolution or any Officers’
Certificate. In the case of any redemption at the election of the Company of less than all the Securities, if any, of any series, the Company shall, at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be
satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of
Securities (i) prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture or (ii) pursuant to an election of the Company that is subject to a condition specified in the terms
of such Securities, the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with such restriction or condition. 
 

	Section 10.3	 	Selection of Securities to Be Redeemed 

 
Unless otherwise specified as contemplated by Section 3.1, if less than all of the Securities of a series with the same original issue
date, interest rate and Stated Maturity are to be redeemed, the Trustee, not more than 45 days prior to the Redemption Date, shall select the 
 

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Securities of the series to be redeemed in such manner as the Trustee shall deem fair and appropriate. The Trustee shall make the selection
from Securities of the series that are Outstanding and that have not previously been called for redemption and may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or
any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series. The Trustee shall promptly notify the Company in writing of the
Securities selected by the Trustee for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed. 
 
If any Security selected for partial redemption is converted in part before termination of the conversion
right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities that have been converted during a selection of Securities
to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such selection. 
 
For purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed
only in part, to the portion of the principal amount of such Securities that has been or is to be redeemed. 
 

	Section 10.4	 	Notice of Redemption 

 
Unless otherwise specified as contemplated by Section 3.1, notice of redemption shall be given in the manner provided in Section 1.6 not
less than 30 days nor more than 60 days prior to the Redemption Date to the Holders of the Securities to be redeemed. 
 
All notices of redemption shall state: 
 
(a) the Redemption Date; 
 
(b) the Redemption Price; 
 
(c) if fewer than all the Outstanding Securities of a series are to be redeemed, the identification (and, in the case of
partial redemption, the principal amounts) of the particular Security or Securities to be redeemed; 
 
(d) in case any Security is to be redeemed in part only, the notice that relates to such Security shall state that on and
after the Redemption Date, upon surrender of such Security, the Holder will receive, without charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining unredeemed; 
 
(e) the conversion price, the date on which
the right to convert the principal of the Securities to be redeemed will terminate and the place or places where such Securities may be surrendered for conversion; 
 

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(f) the Place or Places of Payment where such Securities maturing after the Redemption Date, are to be surrendered for payment for the Redemption Price; 
 
(g) that Securities of the series called for redemption must be surrendered to the Paying
Agent to collect the redemption price; 
 
(h) that, on the Redemption Date, the Redemption Price will become due and payable upon each such Security, or the portion thereof, to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said
Redemption Date; 
 
(i) that the
redemption is for a sinking fund, if such is the case; and 
 
(j) the CUSIP number. 
 
Notice of redemption of Securities to be redeemed shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company. 
 

	Section 10.5	 	Deposit of Redemption Price 

 
On or prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its
own Paying Agent, segregate and hold in trust as provided in Section 9.3) an amount of money sufficient to pay on the Redemption Date the Redemption Price of, and (unless the Redemption Date shall be an Interest Payment Date) interest accrued to the
Redemption Date on, all Securities or portions thereof that are to be redeemed on that date, other than any Securities called for redemption on that date that have been converted prior to the date of such deposit. 
 
Unless any Security by its terms prohibits any sinking fund
payment obligation from being satisfied by delivering and crediting Securities (including Securities redeemed otherwise than through a sinking fund), the Company may deliver such Securities to the Trustee for crediting against such payment
obligation in accordance with the terms of such Securities and this Indenture. 
 
If any Security called for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held in trust for the redemption of such Security shall (subject
to any right of the Holder of such Security or any Predecessor Security to receive interest as provided in the last paragraph of Section 3.7) be paid to the Company upon Company Request or, if then held by the Company, shall be discharged from such
trust. 
 

	Section 10.6	 	Securities Payable on Redemption Date 

 
Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and
payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Except as provided in the
next succeeding paragraph, upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption 
 

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Price, together with accrued interest to the Redemption Date; provided, however, that, unless otherwise specified as contemplated by Section
3.1, installments of interest on Securities whose Stated Maturity is prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant
Record Dates according to their terms and the provisions of Section 3.7. 
 
If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor
in the Security. 
 

	Section 10.7	 	Securities Redeemed in Part 

 
Upon surrender of a Security that is redeemed in part at any Place of Payment therefor (with, if the Company or the Trustee so require,
due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), the Company shall execute and the Trustee shall
authenticate and deliver to the Holder of that Security, without service charge, a new Security or Securities of the same series, the same form and the same Maturity in any authorized denomination equal in aggregate principal amount to the
unredeemed portion of the principal of the Security surrendered. 
 
ARTICLE 11 
 
Sinking
Funds 
 

	Section 11.1	 	Applicability of Article 

 
The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise
specified as contemplated by Section 3.1 for Securities of such series. 
 
The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount
provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to
reduction as provided in Section 11.2. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series. 
 

	Section 11.2	 	Satisfaction of Sinking Fund Payments With Securities 

 
The Company may (i) deliver Outstanding Securities of a series (other than any previously called for redemption) and (ii) apply as a
credit Securities of a series that have been converted pursuant to Article 12 or that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund
payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such 
 

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series required to be made pursuant to the terms of such Securities as provided for by the terms of such series, provided that such
Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount
of such sinking fund payment shall be reduced accordingly. 
 

	Section 11.3	 	Redemption of Securities for Sinking Fund 

 
Not less than 60 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, that is to be satisfied by payment of cash and the portion thereof, if any,
that is to be satisfied by delivering and crediting Securities of that series pursuant to Section 11.2, and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund payment date, the
Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 10.3 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner
provided in Section 10.4. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 10.6 and 10.7. 
 
ARTICLE 12 
 
Conversion of Securities 
 

	Section 12.1	 	Conversion Privilege 

 
Subject to and upon compliance with the provisions of this Article, at the option of the Holder thereof, Securities of any series or any
portion of the principal amount thereof that is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, or such portion thereof, into fully paid and nonassessable shares (calculated as to each conversion to the
nearest 1/100 of a share) of Common Stock, in accordance with the terms of such series of Securities and (except as otherwise specified as contemplated by Section 3.1) in accordance with this Article. In case a Security or portion thereof is called
for redemption, such conversion right in respect of the Security or portion so called shall expire at the close of business on the Business Day that is 10 days prior to the Redemption Date, unless the Company defaults in making the payment due upon
redemption. 
 
The price at which shares of Common
Stock shall be delivered upon conversion, which shall be specified as contemplated by Section 3.1, shall be referred to herein as the “conversion price.” The conversion price shall be adjusted in certain instances as provided in paragraphs
(a), (b), (c), (d) and (g) of Section 12.4. 
 

	Section 12.2	 	Exercise of Conversion Privilege 

 
In order to exercise the conversion privilege, the Holder of any Security to be converted shall surrender such Security, duly endorsed or
assigned to the Company or in blank, at any office or agency of the Company maintained for that purpose pursuant to Section 9.2, 
 

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accompanied by written notice to the Company at such office or agency that the Holder elects to convert such Security or, if less than the
entire principal amount thereof is to be converted, the portion thereof to be converted. Securities surrendered for conversion during the period from the close of business on any Regular Record Date next preceding any Interest Payment Date to the
opening of business on such Interest Payment Date shall (except in the case of Securities or portions thereof that have been called for redemption on a Redemption Date within such period) be accompanied by payment in New York Clearing House funds or
other funds acceptable to the Company of an amount equal to the interest payable on such Interest Payment Date on the principal amount of Securities being surrendered for conversion. Except as provided in the preceding sentence and in Section 3.7,
no payment or adjustment shall be made upon any conversion on account of any interest accrued on the Securities surrendered for conversion or on account of any dividends on the Common Stock issued upon conversion. 
 
Securities shall be deemed to have been converted immediately
prior to the close of business on the day of surrender of such Securities for conversion in accordance with the foregoing provisions, and at such time the rights of the Holders of such Securities as Holders shall cease, and the Person or Persons
entitled to receive the Common Stock issuable upon conversion shall be treated for all purposes as the record holder or holders of such Common Stock at such time. As promptly as practicable on or after the conversion date, the Company shall issue
and deliver at such office or agency a certificate or certificates for the number of full shares of Common Stock issuable upon conversion, together with payment in lieu of any fractional share, as provided in Section 12.3. 
 
In the case of any Security that is converted in part only,
upon such conversion the Company shall execute and the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new Security or Securities of authorized denominations in aggregate principal amount equal to the
portion of the principal amount of such Security not converted. 
 

	Section 12.3	 	Fractional Shares 

 
No fractional shares of Common Stock shall be issued upon conversion of Securities. If more than one Security shall be surrendered for
conversion at one time by the same Holder, the number of full shares that shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered.
Instead of a fractional share of Common Stock that would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment in respect of such fraction in an amount equal to
the same fraction of the market price per share of Common Stock (as determined by the Board of Directors or in any manner prescribed by the Board of Directors) at the close of business on the day of conversion. 
 

	Section 12.4	 	Adjustment of Conversion Price 

 
(a) In case the Company shall pay or make a dividend or other distribution on any class of capital stock of the Company in Common Stock,
the conversion price in effect at the opening of the Trading Day following the date fixed for the determination of stockholders entitled to receive such dividend or other distribution shall be reduced by multiplying such conversion price by a
fraction, the numerator of which shall be the number of shares of Common 
 

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Stock outstanding at the close of the Trading Day on the date fixed for such determination and the denominator of which shall be the sum of
such number of shares and the total number of shares constituting such dividend or other distribution, such reduction to become effective immediately after the opening of business on the day following the date fixed for such determination. For the
purposes of this paragraph (a), the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu of
fractional shares of Common Stock. The Company will not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company. 
 
(b) In case the Company shall issue rights or warrants to all holders of its Common Stock entitling them to
subscribe for or purchase shares of Common Stock at a price per share less than the current market price per share (determined as provided in paragraph (f) of this Section) of the Common Stock on the dated fixed for the determination of stockholders
entitled to receive such rights or warrants, the conversion price in effect at the opening of the Trading Day following the date fixed for such determination shall be reduced by multiplying such conversion price by a fraction, the numerator of which
shall be the number of shares of Common Stock outstanding at the close of business on the date fixed for such determination plus the number of shares of Common Stock that the aggregate of the offering price of the total number of shares of Common
Stock so offered for subscription or purchase would purchase at such current market price and the denominator of which shall be the number of shares of Common Stock outstanding at the close of business on the date fixed for such determination plus
the number of shares of Common Stock so offered for subscription or purchase, such reduction to become effective immediately after the opening of the Trading Day following the date fixed for determination. For the purposes of this paragraph (b), the
number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu of fractional shares of Common Stock. The
Company will not issue any rights or warrants in respect of shares of Common Stock held in the treasury of the Company. 
 
(c) In case outstanding shares of Common Stock shall be subdivided into a greater number of shares of Common Stock, the conversion price
in effect at the opening of the Trading Day following the day upon which such subdivision becomes effective shall be proportionately reduced and, conversely, in the case that outstanding shares of Common Stock shall be combined into a smaller number
of shares of Common Stock, the conversion price in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately increased, such reduction or increase, as the case may be, to
become effective immediately after the opening of business on the day following the day upon which such subdivision or combination becomes effective. 
 
(d) In case the Company shall, by dividend or otherwise, distribute to all holders of its Common Stock evidences of its Indebtedness or
assets (including securities, but excluding any rights or warrants referred to in paragraph (b) of this Section, any dividend or distribution paid in cash out of the retained earnings of the Company and any dividend or distribution referred to in
paragraph (a) of this Section), the conversion price shall be adjusted so that the same shall equal the price determined by multiplying the conversion price in effect immediately 
 

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prior to the close of business on the date fixed for the determination of stockholders entitled to receive such distribution by a fraction,
the numerator of which shall be the current market price share (determined as provided in paragraph (f) of this Section) of the Common Stock on the date fixed for such determination less the then fair market value (as determined by the Board of
Directors, whose determination shall be conclusive and described in a Board Resolution filed with the Trustee) of the portion of the assets or evidences of Indebtedness so distributed applicable to one share of Common Stock and the denominator of
which shall be such current market price per share of the Common Stock, such adjustment to become effective immediately prior to the opening of business on the day following the date fixed for the determination of stockholders entitled to receive
such distribution. 
 
(e) The reclassification of
Common Stock into securities other than Common Stock (other than any reclassification upon a consolidation or merger, to which Section 12.11 applies) shall be deemed to involve (i) a distribution of such securities other than Common Stock to all
holders of Common Stock (and the effective date of such reclassification shall be deemed to be “the date fixed for the determination of stockholders entitled to receive such distribution” and “the date fixed for such
determination” within the meaning of paragraph (d) of this Section) and (ii) a subdivision or combination, as the case may be, of the number of shares of Common Stock outstanding immediately prior to such reclassification into the number of
shares of Common Stock outstanding immediately thereafter (and the effective date of such reclassification shall be deemed to be “the day upon which such subdivision becomes effective” or “the day upon which such combination becomes
effective,” as the case may be, and “the day upon which such subdivision or combination becomes effective” within the meaning of paragraph (c) of this Section). 
 
(f) For the purpose of any computation under paragraphs (b) and (d) of this Section, the current market price
per share of Common Stock on any date shall be deemed to be the average of the daily closing prices for the five consecutive Trading Days selected by the Company commencing not more than 20 Trading Days before, and ending not later than, the earlier
of the day in question and the day before the “ex” date with respect to the issuance or distribution requiring such computation. The closing price for each day shall be the last reported sales price regular way or, in case that no such
reported sale takes place on such day, the average of the reported closing bid and asked prices regular way, in either case on the New York Stock Exchange or, if the Common Stock is not listed or admitted to trading on such Exchange, on the
principal national securities exchange on which the Common Stock is listed or admitted to trading or, if not listed or admitted to trading on any national securities exchange, on the Nasdaq National Market or, if the Common Stock is not listed or
admitted to trading on any national securities exchange or quoted on the Nasdaq National Market, the average of the closing bid and asked prices in the over-the-counter market as furnished by any New York Stock Exchange member firm selected from
time to time by the Company for that purpose. For purposes of this paragraph, the term “‘ex date,” when used with respect to any issuance or distribution, means the first date on which the Common Stock trades regular way on such
exchange or in such market without the right to receive such issuance or distribution. 
 
(g) The Company may make such reductions in the conversion price, in addition to those required by paragraphs (a), (b), (c) and (d) of this Section, as it considers to be advisable in order that any
event treated for federal income tax purposes as a dividend of stock or stock rights shall not be taxable to the recipients. 
 

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	Section 12.5	 	Notice of Adjustments of Conversion Price 

 
Whenever the conversion price is adjusted as herein provided: 
 
(a) the Company shall compute the adjusted conversion price in accordance with Section 12.4
and shall prepare a certificate signed by the Treasurer of the Company setting forth the adjusted conversion price and showing in reasonable detail the facts upon which such adjustment is based, and such certificate shall forthwith be filed at each
office or agency maintained for the purpose of conversion of Securities pursuant to Section 9.2; and 
 
(b) a notice stating that the conversion price has been adjusted and setting forth the adjusted conversion price shall
forthwith be required and, as soon as practicable after it is required, shall be mailed by the Company to all Holders at their last addresses as they shall appear in the Register. 
 

	Section 12.6	 	Notice of Certain Corporate Action 

 
In case: 
 
(a) the Company shall declare a dividend (or any other distribution) on the Common Stock payable otherwise than in cash
out of its retained earnings; or 
 
(b) the Company shall authorize the granting to the holders of the Common Stock of rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any other rights; or 
 
(c) of any reclassification of the Common
Stock (other than a subdivision or combination of its outstanding shares of Common Stock), or of any consolidation or merger to which the Company is a party and for which approval of any stockholders of the Company is required, or of the sale or
transfer of all or substantially all of the assets of the Company; or 
 
(d) of the voluntary or involuntary dissolution, liquidation or winding up of the Company; 
 
then the Company shall cause to be filed at each office or agency maintained for the purpose of conversion of Securities pursuant to Section 9.2, and
shall cause to be mailed to all Holders at their last addresses as they shall appear in the Register, at least 20 days (or 10 days in any case specified in clause (a) or (b) above) prior to the applicable record or effective date hereinafter
specified, a notice stating (y) the date on which a record is to be taken for the purpose of such dividend, distribution, rights or warrants, or, if a record is not to be taken, the date as of which the holders of Common Stock of record to be
entitled to such dividend, distribution, rights or warrants are to be determined, or (z) the date on which such reclassification, consolidation, merger, sale, transfer, dissolution, liquidation or winding up is expected to become effective, and the
date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their shares of Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer,
dissolution, liquidation or winding up. 
 

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	Section 12.7	 	Company to Reserve Common Stock 

 
The Company shall at all times reserve and keep available, free from preemptive rights, out of its authorized but unissued Common Stock,
for the purpose of effecting the conversion of Securities, the full number of shares of Common Stock then issuable upon the conversion of all outstanding Securities. 
 

	Section 12.8	 	Taxes on Conversions 

 
The Company will pay any and all taxes that may be payable in respect of the issue or delivery of shares of Common Stock on conversion of
Securities pursuant hereto. The Company shall not, however, be required to pay any tax that may be payable in respect of any transfer involved in the issue and delivery of shares of Common Stock in a name other than that of the Holder of the
Security or Securities to be converted, and no such issue or delivery shall be made unless and until the Person requesting such issue has paid to the Company the amount of any such tax, or has established to the satisfaction of the Company that such
tax has been paid. 
 

	Section 12.9	 	Covenant as to Common Stock 

 
The Company covenants that all shares of Common Stock that may be issued upon conversion of Securities will upon issue be fully paid and
nonassessable and, except as provided in Section 12.8, the Company will pay all taxes, liens and charges with respect to the issue thereof. 
 

	Section 12.10	 	Cancellation of Converted Securities 

 
All Securities delivered for conversion shall be delivered to the Trustee to be cancelled by or at the direction of the Trustee, which
shall dispose of the same as provided in Section 3.9. 
 

	Section 12.11	 	Provisions in Case of Consolidation, Merger or Sale of Assets 

 
In case of any consolidation of the Company with, or merger of the Company into, any other Person, any merger
of another Person into the Company (other than a merger that does not result in any reclassification, conversion, exchange or cancellation of outstanding shares of Common Stock) or any sale or transfer of all or substantially all of the assets of
the Company, the Person formed by such consolidation or resulting from such merger or which acquires such assets, as the case may be, shall execute and deliver to the Trustee a supplemental indenture providing that the Holder of each Security then
outstanding shall have the right thereafter, during the period such Security shall be convertible as specified in Section 12.1, to convert such Security only into the kind and amount of securities, cash and other property receivable upon such
consolidation, merger, sale or transfer by a holder of the number of shares of Common Stock into which such Security might have been converted immediately prior to such consolidation, merger, sale or transfer, assuming such holder of Common Stock
(i) is not a Person with which the Company consolidated or into which the Company merged or which 

 

63 

merged into the Company or to which such sale or transfer was made, as the case may be (“constituent Person”), or an Affiliate of a
constituent Person and (ii) failed to exercise his rights of election, if any, as to the kind or amount of securities, cash and other property receivable upon such consolidation, merger, sale or transfer (provided that if the kind or amount of
securities, cash and other property receivable upon such consolidation, merger, sale or transfer is not the same for each share of Common Stock of the Company held immediately prior to such consolidation, merger, sale or transfer by others than a
constituent Person or an Affiliate thereof and in respect of which such rights of election shall not have been exercised (“nonelecting share”), then for the purpose of this Section the kind and amount of securities, cash and other property
receivable upon such consolidation, merger, sale or transfer by each nonelecting share shall be deemed to be the kind and amount so receivable per share by a plurality of the nonelecting shares). Such supplemental indenture shall provide for
adjustments that, for events subsequent to the effective date of such supplemental indenture, shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 12. The above provisions of this Section shall
similarly apply to successive consolidations, mergers, sales or transfers. 
 
The Company shall be solely responsible for performing the duties and responsibilities contained in this Article 12 and the Trustee shall have no responsibility therefor. 
 
[If applicable, insert— 
 
ARTICLE 13 
 
Subordination of Securities 
 

	Section 13.1	 	Securities Subordinated to Senior Indebtedness 

 
(a) The Company agrees, and each Holder of the Securities by acceptance thereof likewise agrees, that the payment of the principal of,
premium, if any, and interest on the Securities is subordinated, to the extent and in the manner provided in this Article 13, to the prior payment in full of all Senior Indebtedness of the Company. 
 
(b) All provisions of this Article 13 shall be subject to
Section 13.14. 
 

	Section 13.2	 	Company Not to Make Payments With Respect to Securities in Certain Circumstances; Limitations on Acceleration of Securities 

 
(a) Upon the maturity of any Senior Indebtedness of the
Company by lapse of time, acceleration or otherwise, all obligations with respect thereto shall first be paid in full, or such payment duly provided for in cash or in a manner satisfactory to the holders of such Senior Indebtedness, before any
payment is made on account of the principal of, premium, if any, or interest on the Securities or to redeem, retire, purchase, deposit moneys for the defeasance of or acquire any of the Securities. 
 
(b) Upon the happening of (i) any default in payment of any
Senior Indebtedness of the Company or (ii) any other default on Senior Indebtedness of the Company, and the maturity of such Senior Indebtedness is accelerated in accordance with its terms, then, unless (w) such 

 

64 

default relates to Senior Indebtedness of the Company in an aggregate amount equal to or less than $50 million, (x) such default shall have
been cured or waived or shall have ceased to exist, (y) any such acceleration has been rescinded, or (z) such Senior Indebtedness has been paid in full, no direct or indirect payment in cash, property or securities, by set-off or otherwise (except
payment of the Securities from funds previously deposited in accordance with Section 4.1 at any time such deposit was not prohibited by this Indenture), shall be made or agreed to be made by the Company on account of the principal of, premium, if
any, or interest on the Securities, or in respect of any redemption, retirement, purchase, deposit of moneys for the covenant defeasance or other acquisition of any of the Securities in the case of such a default in Senior Indebtedness of the
Company, and the Company shall not deposit money for any such payment or distribution with the Trustee or any Paying Agent nor shall the Company (if the Company is acting as its own Paying Agent) segregate and hold in trust money for any such
payment or distribution. 
 
(c) Upon the happening
of an event of default (other than under circumstances when the terms of paragraph (b) of this Section 13.2 are applicable) with respect to any Senior Indebtedness of the Company pursuant to which the holders thereof are entitled under the terms of
such Senior Indebtedness to immediately accelerate the maturity thereof (without further notice or expiration of any applicable grace periods), upon written notice thereof given to each of the Company and the Trustee by the trustee for or other
representative of the holders of at least $50 million of Senior Indebtedness of the Company (a “Payment Notice”), then, unless and until such event of default shall have been cured or waived or shall have ceased to exist, no direct or
indirect payment in cash, property or securities, by set-off or otherwise (except payment of the Securities from funds previously deposited in accordance with Section 4.1 at any time such deposit was not prohibited by this Indenture), shall be made
or agreed to be made by the Company on account of the principal of, premium, if any, or interest on the Securities, or in respect of any redemption, retirement, purchase, deposit of moneys for the covenant defeasance or other acquisition of any of
the Securities, in the case of Senior Indebtedness of the Company, and the Company shall not deposit money for any such payment or distribution with the Trustee or any Paying Agent nor shall the Company or a Subsidiary (if the Company or such
Subsidiary is acting as Paying Agent) segregate and hold in trust money for any such payment or distribution (a “Payment Block”); provided, however, that this paragraph shall not prevent the making of any payment for more than 120 days
after a Payment Notice shall have been given unless the Senior Indebtedness in respect of which such event of default exists has been declared due and payable in its entirety, in which case no such payment shall be made until such acceleration has
been rescinded or annulled or such Senior Indebtedness has been paid in full in accordance with its terms. Notwithstanding the foregoing, (i) not more than one Payment Notice shall be given with respect to a particular event of default (which shall
not bar subsequent Payment Notices for other such events of default), (ii) all events of default under Senior Indebtedness occurring within any 30-day period shall be treated as one event of default to the extent that one or more Payment Notices are
issued in connection therewith, and (iii) no more than two Payment Blocks shall be permitted within any period of 12 consecutive months. Any payment made in contravention of the provisions of this paragraph shall be returned to the Company.

 

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(d) In the
event that, notwithstanding the provisions of paragraph (a) or (b), the Trustee or the Holder of any Security shall have received any payment on account of the principal of or premium, if any, or interest on the Securities in contravention of
paragraph (a) or (b) or after the happening of a default in payment of any Senior Indebtedness of the Company or any acceleration of the maturity of any Senior Indebtedness of the Company then, in either such case, except in the case of any such
default that shall have been cured or waived or shall have ceased to exist, such payment (subject to the provisions of Sections 13.6 and 13.7) shall be held for the benefit of, and shall be paid over and delivered to, the holders of such Senior
Indebtedness of the Company (pro rata as to each of such holders on the basis of the respective amounts of Senior Indebtedness of the Company held by them) or their representative or the trustee under the indenture or other agreement (if any)
pursuant to which Senior Indebtedness of the Company may have been issued, as their respective interests may appear, for application to the payment of all Senior Indebtedness of the Company remaining unpaid to the extent necessary to pay all Senior
Indebtedness of the Company in full in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness of the Company. 
 
(e) (1) Upon the occurrence of an Event of Default under Section 5.1(a) through (d) and (g), the Trustee or
holders of 25% of the outstanding principal amount of the Securities of any series must give notice of such Event of Default and the intention to declare the acceleration of principal of all the Securities of that series to the Company and any
holders of Senior Indebtedness which have theretofore requested of the Trustee such notice, and no acceleration of the Securities of any series shall be effective unless and until such Event of Default is continuing on the 60th day after the date of
delivery of such notice. The Company may pay the Holders of the Securities of any series any defaulted payment and all other amounts due following any such acceleration of the maturity of the Securities if this Section 13.2(e) would not prohibit
such payment to be made at that time. 
 
(2) Nothing in this Article 13 shall prevent or delay the Trustee or the Holders of the Securities from taking any action in connection with the acceleration of the maturity of the Securities pursuant to Section 5.2 upon the
occurrence of an Event of Default under either Section 5.1(e) or 5.1(f). 
 
(3) Except as provided in Section 13.2(e)(1), a failure to make any payment with respect to the Securities as a result of the rights of holders of Senior Indebtedness of the Company described in
paragraph (b) or (c) hereof will not have any effect on the right of Holders of the Securities to accelerate the maturities thereof as a result of such payment default. The Company shall give prompt written notice to the Trustee of any default in
the payment of principal of or interest on any Senior Indebtedness of the Company, and in the event of any such default, shall provide to the Trustee, in the form of an Officers’ Certificate, the names, addresses and respective amounts due
holders of such Senior Indebtedness or the name and address of the trustee acting on their behalf, if any. The Trustee shall be entitled to rely conclusively on such Officers’ Certificate without independent verification. 
 

66 

 

	Section 13.3	 	Securities Subordinated to Prior Payment of All Senior Indebtedness on Dissolution, Liquidation or Reorganization of the Company 

 
Upon the distribution of assets of the Company in any
dissolution, winding up, liquidation (total or partial) or similar proceeding relating to the Company (whether in bankruptcy, insolvency or receivership proceedings or upon an assignment for the benefit of creditors or otherwise): 
 
(a) the holders of all Senior Indebtedness of
the Company shall first be entitled to receive payment in full of all Senior Indebtedness (or to have such payment duly provided for in a manner satisfactory to them) in cash or in a manner satisfactory to the holders of Senior Indebtedness of the
Company before the Holders of the Securities are entitled to receive any payment on account of the principal of, premium, if any, or interest on the Securities; 
 
(b) any payment or distribution of assets of the Company of any kind or character, whether in
cash, property or securities (other than securities of the Company as reorganized or readjusted, or securities of the Company or any other company, trust or corporation provided for by a plan of reorganization or readjustment, the payment of which
is junior or otherwise subordinate, at least to the extent provided in this Article 13 with respect to the Securities, to the payment of all securities issued in exchange therefor to the holders of the Senior Indebtedness of the Company at the time
outstanding), to which the Holders of the Securities or the Trustee on behalf of the Holders of the Securities would be entitled except for the provisions of this Article 13, shall be paid by the liquidating trustee or agent or other person making
such payment or distribution directly to the holders of the Senior Indebtedness of the Company or their representatives or to the trustee under any indenture under which such Senior Indebtedness may have been issued (pro rata as to each such holder,
representative or trustee on the basis of respective amounts of unpaid Senior Indebtedness held or represented by each), to the extent necessary to make payment in full of all Senior Indebtedness of the Company remaining unpaid, after giving effect
to any concurrent payment or distribution or provision therefor to the holders of such Senior Indebtedness; and 
 
(c) in the event that notwithstanding the foregoing provisions of this Section 13.3, any payment or distribution of assets
of the Company of any kind or character, whether in cash, property or securities (other than securities of the Company as reorganized or readjusted or securities of the Company or any other company, trust or corporation provided for by a plan of
reorganization or readjustment, the payment of which is junior or otherwise subordinate, at least to the extent provided in this Article 13 with respect to the Securities, to the payment of all Senior Indebtedness of the Company at the time
outstanding and to the payment of all securities issued in exchange therefor to the holders of the Senior Indebtedness of the Company, as the case may be, at the time outstanding), shall be received by the Trustee or the Holders of the Securities on
account of principal of, premium, if any, or interest on the Securities before all Senior Indebtedness of the Company is paid in full in cash or in a manner satisfactory to the holders of such Senior Indebtedness in accordance with its terms, or
effective provision made for its payment, such payment or distribution (subject to the provisions of Sections 13.6 and 13.7) shall be received and held for the benefit of and paid over to the holders of the Senior Indebtedness of the Company
remaining unpaid or unprovided for or their representative, or to the trustee under any indenture under which such Senior Indebtedness of the Company may have been issued (pro rata as provided in paragraph (b) above), for application to the payment
of such Senior Indebtedness of the Company to the extent necessary to pay all such Senior Indebtedness of the Company in full in cash or in a manner satisfactory to the holders of Senior Indebtedness of the Company in accordance with its terms,
after giving effect to any concurrent payment or distribution or provision therefor to the holders of such Senior Indebtedness of the Company. 
 

67 

 
The Company
shall give prompt written notice to the Trustee of any dissolution, winding up, liquidation or reorganization of the Company or any assignment for the benefit of the Company’s creditors tending toward the liquidation of the business and assets
of the Company. 
 

	Section 13.4	 	Holders to Be Subrogated to Rights of Holders of Senior Indebtedness 

 
Upon the payment in full of all Senior Indebtedness of the Company in cash or in a manner satisfactory to the
holders of such Senior Indebtedness, the Holders of the Securities shall be subrogated equally and ratably to the rights of the holders of Senior Indebtedness of the Company to receive payments or distributions of assets of the Company applicable to
the Senior Indebtedness of the Company until all amounts owing on the Securities shall be paid in full, and for the purpose of such subrogation no payments or distributions to the holders of Senior Indebtedness of the Company by or on behalf of the
Company or by or on behalf of Holders of the Securities by virtue of this Article 13 that otherwise would have been made to the Holders of the Securities shall, as between the Company and the Holders of the Securities, be deemed to be payment by the
Company to or on account of Senior Indebtedness of the Company, it being understood that the provisions of this Article 13 are intended solely for the purpose of defining the relative rights of the Holders of the Securities, on the one hand, and the
holders of Senior Indebtedness of the Company, on the other hand. 
 

	Section 13.5	 	Obligation of the Company Unconditional 

 
Nothing contained in this Article 13 or elsewhere in this Indenture or in any Security is intended to or shall impair, as between the
Company and the Holders of the Securities, the obligations of the Company that are absolute and unconditional, to pay to the Holders of the Securities the principal of (premium, if any) and interest on the Securities as and when the same shall
become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Company other than the holders of Senior Indebtedness of the Company nor, except as
expressly provided in this Article 13, shall anything herein or in the Securities prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the
rights, if any, under this Article 13 of the holders of Senior Indebtedness of the Company, in respect of cash, property or securities of the Company received upon the exercise of any such remedy. Upon any distribution of assets of the Company
referred to in this Article 13, the Trustee, subject to the provisions of Section 6.1, and the Holders of the Securities endorsed thereon shall be entitled to rely upon any order or decree by any court of competent jurisdiction in which such
dissolution, winding up, liquidation or reorganization proceedings are pending, or a certificate of the liquidating trustee or agent or other Person making any distribution to the Trustee or the Holders of the Securities for the purpose of
ascertaining the Persons entitled to participate in such distribution, the holders of Senior Indebtedness of the Company and other indebtedness of the Company the amount thereof or payable thereon, the amount or amounts paid or distributed thereon
and all other facts pertinent thereto or to this Article 13. 
 

68 

 
Nothing
contained in this Article 13 or elsewhere in this Indenture or in any Security is intended to or shall affect the obligations of the Company to make, or prevent the Company from making, at any time except during the pendency of any dissolution,
winding up, liquidation (total or partial) or similar proceeding, and except during the continuance of any event specified in Section 13.2 (not cured or waived), payments at any time of the principal of (or premium, if any) or interest on the
Securities. 
 

	Section 13.6	 	Knowledge of Trustee 

 
Notwithstanding any provision of this Indenture, the Trustee shall not at any time be charged with knowledge of the existence of any facts
that would prohibit the making of any payment of moneys to or by the Trustee until three Business Days after a Responsible Officer of the Trustee on behalf of the Trustee shall have received at the Corporate Trust Office of the Trustee written
notice thereof from the Company, any Holder, or the holder or representative of any class of Senior Indebtedness of the Company identifying the specific sections of this Indenture involved and describing in detail the facts that would obligate the
Trustee to withhold payments to Holders of Securities, and, prior to such time, the Trustee, subject to the provisions of Section 6.1, shall be entitled in all respects conclusively to assume that no such facts exist. The Trustee shall be entitled
to rely on the delivery to it of a written notice by an individual representing himself to be a holder of Senior Indebtedness of the Company (or a trustee on behalf of such holder) to establish that such notice has been given by a holder of any such
Senior Indebtedness or a trustee on behalf of any such holder. 
 
In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness of the Company to participate in any payment or distribution pursuant
to this Article 13, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to amount of Senior Indebtedness of the Company held by such Person, the extent to which such Person is entitled to
participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article 13, and if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as
to the right of such Person to receive such payment. 
 

	Section 13.7	 	Application by Trustee of Moneys Deposited With It 

 
If two Business Days prior to the date on which by the terms of this Indenture any moneys deposited with the Trustee or any Paying Agent
(other than the Company or a Subsidiary) may become payable for any purpose (including, without limitation, the payment of the principal of, premium, if any, or interest on any Security), the Trustee shall not have received with respect to such
moneys the notice provided for in Section 13.6, then the Trustee shall have full power and authority to receive such moneys and to apply the same to the purpose for which they were received and shall not be affected by any notice to the contrary
that may be received by it on or after such date. This Section 13.7 shall be construed solely for the benefit of the Trustee and the Paying Agent and shall not otherwise affect the rights of holders of such Senior Indebtedness. 
 

69 

 

	Section 13.8	 	Subordination Rights Not Impaired by Acts or Omissions of Company or Holders of Senior Indebtedness 

 
No right of any present or future holders of any Senior
Indebtedness of the Company to enforce subordination as provided herein shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act by any such holder, or by any
noncompliance by the Company with the terms of this Indenture, regardless of any knowledge thereof that any such holder may have or be otherwise charged with. 
 

	Section 13.9	 	Holders Authorize Trustee to Effectuate Subordination of Securities 

 
Each Holder of the Securities by his acceptance thereof authorizes and expressly directs the Trustee on his
behalf to take such action as may be necessary or appropriate in the discretion of the Trustee to effectuate the subordination provided in this Article 13 and appoints the Trustee his attorney-in-fact for such purpose, including, without limitation,
in the event of any dissolution, winding up, liquidation or reorganization of the Company (whether in bankruptcy, insolvency or receivership proceedings or upon an assignment for the benefit of creditors or otherwise) tending toward liquidation of
the business and assets of the Company, the timely filing of a claim for the unpaid balance of his Securities in the form required in said proceedings. If the Trustee does not file a proper claim or proof of debt in the form required in such
proceedings before the expiration of the time to file such claim or claims, then the holders of Senior Indebtedness of the Company are hereby authorized to have the right to file and are hereby authorized to file an appropriate claim for and on
behalf of the Holders of said Securities. 
 

	Section 13.10	 	Right of Trustee to Hold Senior Indebtedness 

 
The Trustee shall be entitled to all of the rights set forth in this Article 13 in respect of any Senior Indebtedness of the Company at
any time held by it to the same extent as any other holder of such Senior Indebtedness of the Company, and nothing in this Indenture shall be construed to deprive the Trustee of any of its rights as such holder. With respect to the holders of Senior
Indebtedness of the Company, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 13, and no implied covenants or obligations with respect to the holders of Senior
Indebtedness of the Company shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness of the Company, and the Trustee shall not be liable to any holder of
Senior Indebtedness of the Company if it shall mistakenly pay over or deliver to Holders of Securities, the Company or any other Person moneys or assets to which any holder of such Senior Indebtedness shall be entitled by virtue of this Article 13
or otherwise. 
 

	Section 13.11	 	Article 13 Not to Prevent Events of Default 

 
The failure to make a payment on account of principal or interest by reason of any provision in this Article 13 shall not be construed as
preventing the occurrence of an Event of Default under Section 5.1. 
 

70 

 

	Section 13.12	 	Paying Agents Other Than the Trustee 

 
In case at any time any Paying Agent (including, without limitation, the Company or any Subsidiary) other than the Trustee shall have been
appointed by the Company and be then acting hereunder, the term “Trustee” as used in this Article 13 shall in such case (unless the context shall otherwise require) be construed as extending to and including such Paying Agent (except the
Company and its subsidiaries in the case of Sections 13.6 and 13.7) within its meaning as fully for all intents and purposes as if such Paying Agent were named in this Article 13 in addition to or in place of the Trustee. 
 

	Section 13.13	 	Trustee’s Compensation Not Prejudiced 

 
Nothing in this Article 13 shall apply to amounts due to the Trustee pursuant to Section 6.9. 
 

	Section 13.14	 	Trust Moneys Not Subordinated 

 
Notwithstanding anything contained herein to the contrary, payments from money held in trust under Article 4 by the Trustee for the
payment of principal of, premium, if any, and interest on the Securities shall not be subordinated to the prior payment of any Senior Indebtedness of the Company or subject to the restrictions set forth in this Article 13, and none of the Holders
shall be obligated to pay over any such amount to the Company or any holder of Senior Indebtedness of the Company or any other creditor of the Company.] 
 

71 

 
IN WITNESS
WHEREOF, the parties hereto have caused this Indenture to be duly executed, and their respective corporate seals to be hereunto affixed and attested, all as of the day and year first above written. 
 

	 	 	 	 	 ICOS CORPORATION

	
	 	 	 	 	 By:
	 	  

	 	 	 	 	 	 	 Name:
	 	  

	 	 	 	 	 	 	 Title:
	 	 Vice President and Chief Financial Officer

	
	 [Seal]
	 	 	 	 	 	 
	
	 Attest
	 	 	 	 	 	 

 

	
	

	 Name:
	 	  

	 Title:
	 	 Vice President

 

	
	 	 	 	 	 	 	                                      
                                        
       , TRUSTEE

	
	 	 	 	 	 	 	 By:
	 	  

	 	 	 	 	 	 	 Name:
	 	  

	 	 	 	 	 	 	 Title :
	 	  

	
	 [Seal]
	 	 	 	 	 	 	 	 
	
	 Attest
	 	 	 	 	 	 	 	 

 

	

	 Name:
	 	  

	 Title:
	 	 Vice President

 

72FORM OF SECOND SUPPLEMENTAL INDENTURE

EXHIBIT 4.3 
 

 
NORTHEAST UTILITIES 
 
and

 
THE BANK OF NEW YORK, 
AS TRUSTEE 
 

 
SECOND SUPPLEMENTAL INDENTURE

 
Dated as of May 1, 2003 
 
Supplemental to the Indenture, 
 dated as of June 1, 2002 
  
Senior Notes, Series B, Due 2008 
 

SECOND SUPPLEMENTAL INDENTURE, dated as of June 1, 2003, between NORTHEAST UTILITIES, a voluntary
association duly organized and existing under the laws of the Commonwealth of Massachusetts (the “Company”), and THE BANK OF NEW YORK, a New York banking corporation organized and existing under the laws of the State of New York, as
Trustee under the Original Indenture referred to below (the “Trustee”). 
  
RECITALS OF THE COMPANY 
 
The Company has heretofore executed and delivered to the Trustee an indenture dated as of April 1, 2002 (the “Original Indenture”), to provide for the issuance from time to time of its
debentures, notes or other evidences of indebtedness (the “Senior Notes”), the form and terms of which are to be established as set forth in Sections 201 and 301 of the Original Indenture. 
 
Section 901 of the Original Indenture provides, among other
things, that the Company and the Trustee may enter into indentures supplemental to the Original Indenture for, among other things, (a) the purpose of establishing the form and terms of the Senior Notes of any series as permitted in Sections 201 and
301 of the Original Indenture, and (b) changing the provisions of the Original Indenture as they apply to any series created by such supplemental indenture. 
 
The Company has heretofore executed and delivered to the Trustee the following Supplemental Indenture for the purpose of creating a new
series of bonds and amending the Original Indenture: 
 

	 Date

	 	 Series

	 	 Amount

	 April 1, 2002
	 	 Series A, Due 2012
	 	 $263,000,000

 
The
Company desires to create an additional series of the Senior Notes in an aggregate principal amount of up to $            to be designated the “Senior Notes, Series B, Due 2008”
(the “Notes”), and all action on the part of the Company necessary to authorize the issuance of the Notes under the Original Indenture and this Second Supplemental Indenture has been duly taken. 
 
All acts and things necessary to make the Notes, when executed
by the Company and completed, authenticated and delivered by the Trustee as provided in the Original Indenture and this Second Supplemental Indenture, the valid and binding obligations of the Company and to constitute these presents a valid and
binding supplemental indenture and agreement according to its terms, have been done and performed. 
 
NOW, THEREFORE, THIS SECOND SUPPLEMENTAL INDENTURE WITNESSETH: 

 
That in
consideration of the premises and of the acceptance and purchase of the Notes by the Holders thereof and of the acceptance of this trust by the Trustee, the Company covenants and agrees with the Trustee, for the equal and ratable benefit of the
Holders of the Notes, as follows: 
 
ARTICLE ONE

 
Definitions 
 
The use of the terms and expressions herein is in accordance
with the definitions, uses and constructions contained in the Original Indenture and form of the Notes attached hereto as Exhibit A. 
 
ARTICLE TWO 
 
Terms and Issuance of the Senior Notes, Series B, Due 2008 
 
SECTION 201. Issue of Notes. 
 
A series of Senior Notes which shall be designated the “Senior Notes, Series B, Due 2008” shall be executed, authenticated and
delivered from time to time in accordance with the provisions of, and shall in all respects be subject to, the terms and conditions and covenants of, the Original Indenture and this Second Supplemental Indenture (including the form of Global
Security set forth in Exhibit A hereto). The aggregate principal amount of the Notes which may be authenticated and delivered under this Second Supplemental Indenture shall not, except as permitted by the provisions of the Original Indenture,
exceed $. 
 
SECTION 202. Form of Notes; Incorporation of
Terms. 
 
The Notes shall be in substantially
the form set forth in Exhibit A attached hereto. The terms of the Notes contained in such form are hereby incorporated herein by reference and are made a part of this Second Supplemental Indenture. 
 
SECTION 203. Global Security; Depositary for Global Securities.

 
The Notes shall be issued initially in the form
of a Global Security. The Depositary for any Global Securities of the series of which the Notes are a part shall be The Depository Trust Company, New York, New York. 
 
SECTION 204. Restrictions on Liens. 
 
The provisions of Section 1007 of the Original Indenture shall be applicable to the Notes. 
 

2 

SECTION 205. Sale and Leaseback Transactions. 
 
The provisions of Section 1012 of the Original Indenture shall
be applicable to the Notes. 
 
SECTION 206. Place of
Payment. 
 
The Place of Payment in respect of
the Notes shall be at the Corporate Trust Office, which, at the date hereof, is located at 101 Barclay Street, New York, NY 10286, Attention: Corporate Trust Administration. 
 
ARTICLE THREE 
 
Amendment of Original Indenture 
 
SECTION 301. Amendment to Section 401 of the Original Indenture. 
 
Section 401 of the Original Indenture is hereby amended with respect to the Notes to read as follows in its
entirety: 
 
Section 401. Satisfaction and
Discharge of Indenture. 
 
This Indenture shall
upon Company Request cease to be of further effect, and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 
 
(1) either (A) all Securities theretofore
authenticated and delivered (other than (x) Securities which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 306 hereof and (y) Securities for whose payment money has theretofore been deposited in
trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 1003 hereof) have been delivered to the Trustee for cancellation; or 
 
(B) all such Securities not theretofore
delivered to the Trustee for cancellation have become due and payable and the Company has irrevocably deposited or caused to be irrevocably deposited (in each case except as provided in Section 402(c) hereof and the last paragraph of Section 1003
hereof) with the Paying Agent or with the Trustee as trust funds in trust for the purpose an amount of money sufficient to pay and discharge, or has otherwise paid, the entire Indebtedness on such Securities for principal and interest, if any;

 
(2) the Company has paid or
caused to be paid all other sums payable hereunder by the Company; and 
 

3 

 
(3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have
been complied with; 
 
provided,
however, that if the Trustee or any Paying Agent is required to return any money deposited with it as described in this Section 401 to the Company or its representative under any applicable Federal or state bankruptcy, insolvency or similar law,
this Indenture shall retroactively be deemed not to have been satisfied and discharged and automatically shall be reinstated and shall remain in full force and effect without any further action, but the Company shall execute and deliver such
instruments as the Trustee shall reasonably request to evidence and acknowledge the same. 
 
Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 607 hereof, the obligations of the Trustee to any Authenticating Agent
under Section 614 hereof and, if money shall have been deposited with the Paying Agent or the Trustee pursuant to subclause (B) of clause (1) of this Section 401, the obligations of the Company and the Trustee under Sections 401, 402, 1002 and 1003
hereof shall survive such satisfaction and discharge. 
 
SECTION
302. Amendment to Section 403 of the Original Indenture. 
 
Section 403 of the Original Indenture is hereby amended with respect to the Notes to read as follows in its entirety: 
 
Section 403. Satisfaction, Discharge and Defeasance of the Notes. 
 
The Company shall be deemed to have paid and Discharged the entire Indebtedness on all the Outstanding Notes
upon the deposit referred to in subparagraph (1) hereof, and the provisions of this Indenture, as they relate to such Outstanding Notes, shall no longer be in effect (and the Trustee, at the expense of the Company, shall at Company Request execute
proper instruments acknowledging the same), except as to: 
 
(a) the rights of Holders of the Notes to receive, from the trust funds described in subparagraph (1) hereof, payment of the principal of or interest, if any, on the Outstanding Notes on the Stated Maturity; 
 
(b) the Company’s obligations with
respect to such Notes under Sections 305, 306, 1002 and 1003 hereof; 
 
(c) the Company’s obligations with respect to the Trustee under Section 607 hereof; and 
 

4 

 
(d) the rights, powers, trust and immunities of the Trustee hereunder and the duties of the Trustee under Section 402 hereof and the duty of the Trustee to authenticate Notes on registration of transfer or exchange; 
 
provided that, the following conditions shall have been satisfied:

 
(1) the Company has irrevocably
deposited or caused to be irrevocably deposited (in each case except as provided in Section 402(c) hereof and the last paragraph of Section 1003 hereof) 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, an amount of (i) money, or (ii) U.S. Government Obligations or a combination of money and U.S. Government Obligations, in each case sufficient, in the opinion of a nationally recognized firm of
independent certified public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which the Trustee shall be instructed to apply to pay and discharge, the principal of and interest, if any, on
the Notes on the Stated Maturity; provided, however, that (A) all money and U.S. Government Obligations deposited pursuant to this Section 403 shall be denominated in U.S. Dollars; and (B) U.S. Government Obligations shall be valued at the
amount of money that they will provide through the payment of principal and interest in respect thereof in accordance with their terms no later than one day prior to the Stated Maturity, and shall not contain provisions permitting the redemption or
other prepayment at the option of the issuer thereof prior to the Stated Maturity; 
 
(2) no Event of Default or event which with notice or lapse of time would become an Event of Default (including by reason
of such deposit) with respect to the Notes shall have occurred and be continuing on the date of such deposit; 
 
(3) the Company has delivered to the Trustee an opinion of independent counsel selected by the Company to the effect that
(i) Holders of the Notes will not recognize income, gain or loss for Federal income tax purposes as a result of the deposit, defeasance and discharge, which opinion shall be based on a change in law or a ruling by the U.S. Internal Revenue Service
after the date hereof and (ii) the defeasance trust is not, or is registered as, an investment company under the Investment Company Act of 1940; 
 
(4) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
all conditions precedent herein provided for relating to the 
 

5 

satisfaction and discharge of the Securities have been complied with. 
 
The condition set forth in clause (i) of subparagraph (3) hereof shall not
apply if the Company shall have complied with the remaining conditions of subparagraphs 1-4 hereof as of a date which is no less than 60 days prior to the maturity date. 
 
Anything herein to the contrary notwithstanding, (a) if the Trustee or any Paying Agent is required to return any money or
U.S. Government Obligations deposited with it pursuant to this Section 403 to the Company or its representative under any Federal or state bankruptcy, insolvency or similar law, such Security shall thereupon be deemed retroactively not to have been
paid and any satisfaction and discharge of the Company’s Indebtedness in respect thereof shall retroactively be deemed not to have been effected, and such Security shall be deemed to remain Outstanding and the provisions of the Indenture
relating to such Security shall be reinstated and shall remain in full force and effect and (b) any satisfaction and discharge of the Company’s Indebtedness in respect of any Security shall be subject to the provisions of the last paragraph of
Section 1003. 
 
SECTION 303. Amendment to Section 1009 of the
Original Indenture. 
 
Subparagraph (i) of
Section 1009 of the Original Indenture is hereby amended with respect to the Notes to read as follows in its entirety: 
 
“the Company has irrevocably deposited or caused to be irrevocably deposited (in each case except as provided in Section 402(c)
hereof and the last paragraph of Section 1003 hereof) with the Trustee (specifying that each deposit is pursuant to this Section 1009) as trust funds in trust, specifically pledged as security for, and dedicated solely to, the benefit of the Holders
of the Notes, an amount of (i) money or (ii) U.S. Government Obligations or a combination of money and U.S. Government Obligations, in each case sufficient, in the opinion of a nationally recognized firm of independent certified public accountants
expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which the Trustee shall be instructed to apply to pay and discharge, the principal of and each installment of principal and interest, if any, on the
Notes on the Stated Maturity of such principal; provided, however, that (A) all money and U.S. Government Obligations deposited pursuant to this Section 1009 shall be denominated in U.S. Dollars; and (B) U.S. Government Obligations shall be
valued at the amount of money that they will provide through the payment of principal and interest in respect thereof in accordance with their terms no later than one day prior to the Stated Maturity and shall not contain provisions permitting the
redemption or other prepayment at the option of the issuer thereof prior to the Stated Maturity;” 
 

6 

ARTICLE FOUR 
 
Miscellaneous 
 
SECTION 401. Execution as Supplemental Indenture. 
 
This Second Supplemental Indenture is executed and shall be construed as an indenture supplemental to the Original Indenture and, as
provided in the Original Indenture, this Second Supplemental Indenture forms a part thereof. 
 
SECTION 402. 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 Second
Supplemental Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control. 
 
SECTION 403. Effect of Headings. 
 
The Article and Section headings herein are for convenience only and shall not affect the construction hereof. 
 
SECTION 404. Successors and Assigns. 
 
All covenants and agreements by the Company in this Second
Supplemental Indenture shall bind its successors and assigns, whether so expressed or not. 
 
SECTION 405. Separability Clause. 
 
In case any provision in this Second Supplemental 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 406.
Benefits of Second Supplemental Indenture. 
 
Nothing in this Second Supplemental Indenture or in the Notes, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right,
remedy or claim under this Second Supplemental Indenture. 
 
SECTION 407. Recitals. 
 
The Trustee shall have no responsibility for the recitals contained in this Second Supplemental Indenture, all of which shall be taken as the statements of the Company, or for the validity or sufficiency of this Second Supplemental
Indenture. 
 

7 

SECTION 408. Governing Law. 
 
This Second Supplemental Indenture shall be governed by and construed in accordance with the laws of the
State of New York. 
 
SECTION 409. Execution and
Counterparts. 
 
This Second Supplemental
Indenture may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
 
SECTION 410. Liability of Trustees and Shareholders. 
 
The Declaration of Trust of the Company provides that no
shareholder of the Company shall be held to any liability whatever for the payment of any sum of money, or for damages or otherwise under any contract, obligation or undertaking made, entered into or issued by the trustees of the Company or by any
officer, agent or representative elected or appointed by the trustees of the Company and no such contract, obligation or undertaking shall be enforceable against the trustees of the Company or any of them in their or his individual capacities or
capacity and all such contracts, obligations and undertakings shall be enforceable only against the trustees of the Company as such, and every person, firm, association, trust and corporation having any claim or demand arising out of any such
contract, obligation or undertaking shall look only to the trust estate of the Company for the payment or satisfaction thereof. 
 

8 

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

	 NORTHEAST UTILITIES

	
	 By:
	    	 
	 	    	

	 	    	 Name:  Randy A. Shoop        
 Title:    Assistant Treasurer—Finance  

 

	 THE BANK OF NEW YORK, 
 as Trustee

	
	 By:
	    	 
	 	    	

	 	    	 Name:
 Title:    Vice President

 

9 

	 STATE OF
 CONNECTICUT
	  	 )
 )
	  	 	  	 
	 	  	 	  	 ss.:
	  	 May     , 2003

	 COUNTY OF
 HARTFORD
	  	 )
 )
	  	 	  	 

 
On the
         day of May, 2003, before me personally came Randy A. Shoop to me known, who, being by me duly sworn, did depose and say that he is the Assistant Treasurer—Finance of Northeast Utilities,
one of the corporations described in and which executed for the foregoing instrument; and that he signed his name thereto by authority of the Board of Trustees of said corporation. 
 

10 

 
EXHIBIT A

 
[Form of Face of Global Security]

 
THIS SECURITY IS A GLOBAL SECURITY WITHIN
THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE
ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR
ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 
 
Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to Northeast Utilities 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. 
 
NORTHEAST UTILITIES 
 
SENIOR NOTES, SERIES B, DUE 2008 
 
CUSIP NO. 
$                                     
                
 
No.          
 
 NORTHEAST UTILITIES, a voluntary association duly organized and existing under the laws of the Commonwealth of Massachusetts (the
“Company” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of
                                        
($                        ) on June 1, 2008 (the “Final Maturity”), and to pay interest thereon from the date of
original issuance of the Notes or from the most recent Interest 
  

11 

Payment Date to which interest has been paid or duly provided for, semiannually in arrears on June 1
and December 1 in each year, commencing December 1, 2003, at the rate of         % per annum, until the principal hereof is paid or made available for payment. 
  
The amount of interest payable for any period other than a
complete interest payment period will be computed on the basis of a 360-day year consisting of twelve thirty day months for the actual number of days elapsed. In any case where any Interest Payment Date or Stated Maturity is not a Business Day, then
payment of principal and interest, if any, payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay), in each case with the same force and effect as
if made on such date. A “Business Day” shall mean any day, except a Saturday, a Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close.

 
The interest so payable, and punctually paid or
duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security is registered at the close of business on the Regular Record Date for such interest, which shall be (1) the
Business Day next preceding such Interest Payment Date if this Security remains in book-entry only form or (2) the 15th calendar day (whether or not a Business Day) next preceding such Interest Payment Date if this Security does not remain in
book-entry only form. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such date and may either be paid to the Person in whose name this Security is registered at the close of business
on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in
any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

 
Payment of the principal of and any interest on
this Security will be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for
payment of public and private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register.

 

12 

 
This Security
has initially been issued in the form of a Global Security, and the Company has initially designated The Depository Trust Company, New York, New York (the “Depositary,” which term shall include any successor depositary) as the Depositary
for this Security. For as long as this Security or any portion hereof is issued in such form, and notwithstanding the previous paragraph, all payments of interest, principal and other amounts in respect of this Security or portion thereof shall be
made to the Depositary or its nominee in accordance with its applicable policies and procedures, in the coin or currency specified above and as further provided on the reverse hereof. 
 
Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 
Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose. 
 

13 

 
[Form of
Reverse of Global Security] 
 
NORTHEAST
UTILITIES 
 
SENIOR NOTES, SERIES B, DUE 2008

 
This Security is one of a duly authorized
issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of May 1, 2003 as amended and supplemented from time to time (herein called the
“Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York, as Trustee (herein called the “Trustee”, which term includes any successor trustee under Indenture),
as to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders and of the terms
upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, limited in aggregate principal amount to $        . The
provisions of this Security, together with the provisions of the Indenture, shall govern the rights, obligations, duties and immunities of the Holder, the Company and the Trustee with respect to this Security, provided that, if any provision of this
Security conflicts with any provision of the Indenture, the provision of this Security shall be controlling to the fullest extent permitted under the Indenture. 
 
The Securities of this series are not subject to redemption at the option of the Company for any reason prior
to maturity. 
 
The Securities of this series will
not be subject to any sinking fund. 
 
If an Event
of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 
 
Interest payments with respect to this Security for any period
other than a complete interest payment period will be computed and paid on the basis of a 360-day year consisting of twelve thirty day months for the actual number of days elapsed. 
 
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and 
 

14 

obligations of the Company and the rights of the Holders of the Securities of each series to be affected
under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected (voting as one class). The Indenture also
contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this
Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 
No reference herein to the Indenture and no provision of this
Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any interest on this Security at the time, place and rate, and in the coin or currency, herein
prescribed. 
 
This Security shall be exchangeable
for Securities registered in the names of Persons other than the Depositary with respect to such series or its nominee only as provided in this paragraph. This Security shall be so exchangeable if (x) the Depositary notifies the Company that it is
unwilling or unable to continue as Depositary for such series or at any time ceases to be a clearing agency registered as such under the Securities Exchange Act of 1934, (y) the Company executes and delivers to the Trustee an Officers’
Certificate providing that this Security shall be so exchangeable or (z) there shall have occurred and be continuing an Event of Default with respect to the Securities of the series of which this Security is a part. Securities so issued in exchange
for this Security shall be of the same series, having the same interest rate, if any, and maturity and having the same terms as this Security, in authorized denominations and in the aggregate having the same principal amount as this Security and
registered in such names as the Depositary for such Global Security shall direct. 
 
As provided in the Indenture and subject to certain limitations therein set forth, the transfer of a Security of the series of which this Security is a part is registrable in the Security Register,
upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer
in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in 

 

15 

writing, and thereupon one or more new Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 
The Securities of the series of which this Security is a part are issuable only in registered form without coupons in denominations of
$1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like
tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
 
No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in
connection therewith. 
 
Prior to due presentment
of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 
For so long as this Security is issued in the form of a Global Security, neither the Company nor the Trustee will have any responsibility
with respect to the policies and procedures of the Depositary or for any notices or other communications among the Depositary, its direct and indirect participants or the beneficial owners of this Security. 
 
Neither the failure to give any notice nor any defect in any
notice given to the Holder of this Security or any other Security of this series will affect the sufficiency of any notice given to any other Holder of any Securities of this series. 
 
The Indenture provides that the Company, at its option (a) will be discharged from any and all obligations in
respect of the Securities (except for certain obligations to register the transfer or exchange of Securities, replace stolen, lost or mutilated Securities, maintain paying agencies and hold moneys for payment in trust) or (b) need not comply with
certain restrictive covenants of the Indenture, in each case if the Company deposits, in trust, with the Trustee money or U.S. Government Obligations which, through the payment of interest thereon and principal thereof in accordance with their
terms, will provide money, in an amount sufficient to pay all the principal of and interest, if any, on the Securities 

 

16 

on the dates such payments are due in accordance with the terms of such Securities, and certain other conditions are satisfied. 
 
No recourse shall be had for the payment of the principal of
or the interest on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any trustee, incorporator, stockholder, officer or director,
as such, past, present or future, of the Company or any successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any
assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released. 
 
The Declaration of Trust of the Company provides that no shareholder of the Company shall be held to any
liability whatsoever for the payment of any sum of money, or for damages or otherwise under any contract, obligation or undertaking made, entered into or issued by the trustees of the Company or by any officer, agent or representative elected or
appointed by the trustees and no such contract, obligation or undertaking shall be enforceable against the trustees or any of them in their or his individual capacities or capacity and all such contracts, obligations and undertakings shall be
enforceable only against the trustees as such, and every person, firm, association, trust and corporation having any claim or demand arising out of any such contract, obligation or undertaking shall look only to the trust estate for the payment or
satisfaction thereof. 
 
This Security shall be
governed by and construed in accordance with the laws of the State of New York. 
 
All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 
IN WITNESS WHEREOF, Northeast Utilities has caused this instrument to be duly executed. 
 
 Dated: June     , 2003 
  
NORTHEAST UTILITIES 
 

17 

	
	 By:
	 	

	 	 	 Name

	 	 	 Title:

 
TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 
This is one of the Securities of the series designated therein referred to in the within mentioned Indenture. 
 
 Dated: June     , 2003 
  
THE BANK OF NEW YORK, 
as Trustee

 

	
	 By:
	 	

	 Authorized Signatory

 

18

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