Document:

uhs-ex101_8.htm

 

EXHIBIT 10.1

Execution Version

 

REGISTRATION RIGHTS AGREEMENT

This REGISTRATION RIGHTS AGREEMENT dated September 21, 2020 (this “Agreement”) is entered into by and among Universal Health Services, Inc., a Delaware corporation (the “Company”), the guarantors listed in Schedule 1 hereto (the “Initial Guarantors”), and J.P. Morgan Securities LLC, BofA Securities, Inc. and Goldman Sachs & Co. LLC, as the representatives (the “Representatives”) of the several initial purchasers (the “Initial Purchasers”) named on Schedule 1 to the Purchase Agreement (as defined below).

The Company, the Initial Guarantors and the Initial Purchasers are parties to the Purchase Agreement dated September 10, 2020 (the “Purchase Agreement”), which provides for the sale by the Company to the Initial Purchasers of $800,000,000 aggregate principal amount of the Company’s 2.65% Senior Secured Notes due 2030 (the “Securities”) which will be guaranteed on a senior secured basis by each of the Guarantors.  As an inducement to the Initial Purchasers to enter into the Purchase Agreement, the Company and the Guarantors have agreed to provide to the Initial Purchasers and their direct and indirect transferees the registration rights set forth in this Agreement.  The execution and delivery of this Agreement is a condition to the closing under the Purchase Agreement.

In consideration of the foregoing, the parties hereto agree as follows: 

	
1.
	
Definitions.  As used in this Agreement, the following terms shall have the following meanings: 

“Additional Guarantor” shall mean any subsidiary of the Company that executes a Guarantee under the Indenture after the date of this Agreement.

“Business Day” shall mean any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed.

“Company” shall have the meaning set forth in the preamble and shall also include the Company’s successors.

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

“Exchange Dates” shall have the meaning set forth in Section 2(a)(ii) hereof.

 

 

“Exchange Offer” shall mean the exchange offer by the Company and the Guarantors of Exchange Securities for Registrable Securities pursuant to Section 2(a) hereof.

“Exchange Offer Registration” shall mean a registration under the Securities Act effected pursuant to Section 2(a) hereof.

“Exchange Offer Registration Statement” shall mean an exchange offer registration statement on Form S-4 (or, if applicable, on another appropriate form) and all amendments and supplements to such registration statement, in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein.

“Exchange Securities” shall mean senior secured notes issued by the Company and guaranteed by the Guarantors under the Indenture containing terms identical to the Securities (except that the Exchange Securities will not be subject to restrictions on transfer or to any increase in annual interest rate for failure to comply with this Agreement) and to be offered to Holders of Securities in exchange for Securities pursuant to the Exchange Offer.

“FINRA” means the Financial Industry Regulatory Authority, Inc. 

“Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405 under the Securities Act) prepared by or on behalf of the Company or used or referred to by the Company in connection with the sale of the Securities or the Exchange Securities.

“Guarantees” shall mean the guarantees of the Securities and guarantees of the Exchange Securities by the Guarantors under the Indenture.

“Guarantors” shall mean the Initial Guarantors, any Additional Guarantors and any Guarantor's successor that Guarantees the Securities.

“Holders” shall mean the Initial Purchasers, for so long as they own any Registrable Securities, and each of their successors, assigns and direct and indirect transferees who become owners of Registrable Securities under the Indenture; provided that, for purposes of Section 4 and Section 5 hereof, the term “Holders” shall include Participating Broker-Dealers.

“Indemnified Person” shall have the meaning set forth in Section 5(c) hereof.

“Indemnifying Person” shall have the meaning set forth in Section 5(c) hereof.

“Indenture” shall mean the Indenture relating to the Securities dated as of September 21, 2020 among the Company, the Guarantors and MUFG Union 

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Bank, N.A., as trustee, and as the same may be amended from time to time in accordance with the terms thereof. 

“Initial Purchasers” shall have the meaning set forth in the preamble.

“Inspector” shall have the meaning set forth in Section 3(a)(xiv) hereof.

“Issuer Information” shall have the meaning set forth in Section 5(a) hereof.

 “Majority Holders” shall mean the Holders of a majority of the aggregate principal amount of the outstanding Registrable Securities; provided that whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, any Registrable Securities owned directly or indirectly by the Company or any of its “affiliates” (within the meaning of Rule 405 under the Securities Act) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage or amount; and provided, further, that if the Company shall issue any additional Securities under the Indenture prior to consummation of the Exchange Offer or, if applicable, the effectiveness of any Shelf Registration Statement, such additional Securities and the Registrable Securities to which this Agreement relates shall be treated together as one class for purposes of determining whether the consent or approval of Holders of a specified percentage of Registrable Securities has been obtained.

 “Notice and Questionnaire” shall mean a notice of registration statement and selling security holder questionnaire distributed to a Holder by the Company upon receipt of a Shelf Request from such Holder. 

“Participating Broker-Dealers” shall have the meaning set forth in Section 4(a) hereof.

“Participating Holder” shall mean any Holder of Registrable Securities that has returned a completed and signed Notice and Questionnaire to the Company in accordance with Section 2(b) hereof. 

“Person” shall mean an individual, partnership, limited liability company, corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof. 

“Prospectus” shall mean the prospectus included in, or, pursuant to the rules and regulations of the Securities Act, deemed a part of, a Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to such prospectus, and in each case including any document incorporated by reference therein. 

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“Purchase Agreement” shall have the meaning set forth in the preamble. 

“Registrable Securities” shall mean the Securities; provided that the Securities shall cease to be Registrable Securities (i) when a Registration Statement with respect to such Securities has become effective under the Securities Act and such Securities have been exchanged or disposed of pursuant to such Registration Statement, (ii) when such Securities cease to be outstanding or (iii) except in the case of Securities that otherwise remain Registrable Securities and that are held by an Initial Purchaser and that are ineligible to be exchanged in the Exchange Offer, when the Exchange Offer is consummated. 

“Registration Default” shall mean the occurrence of any of the following: (i) the Exchange Offer is not completed on or prior to the Target Registration Date, (ii) the Shelf Registration Statement, if required pursuant to Section 2(b)(i) or Section 2(b)(ii) hereof, has not become effective on or prior to the Target Registration Date, (iii) if the Company receives a Shelf Request pursuant to Section 2(b)(iii), the Shelf Registration Statement required to be filed thereby has not become effective by the later of (a) the Target Registration Date and (b) 90 days after delivery of such Shelf Request, (iv) the Shelf Registration Statement, if required by this Agreement, has become effective and thereafter ceases to be effective or the Prospectus contained therein ceases to be usable, in each case whether or not permitted by this Agreement, at any time during the Shelf Effectiveness Period, and such failure to remain effective or usable exists for more than 30 days (whether or not consecutive) in any 12-month period or (v) the Shelf Registration Statement, if required by this Agreement, has become effective and thereafter, on more than two occasions in any 12-month period during the Shelf Effectiveness Period, the Shelf Registration Statement ceases to be effective or the Prospectus contained therein ceases to be usable, in each case whether or not permitted by this Agreement.

“Registration Expenses” shall mean any and all expenses incident to performance of or compliance by the Company and the Guarantors with this Agreement, including without limitation: (i) all SEC, stock exchange or FINRA registration and filing fees, (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws (including reasonable fees and disbursements of counsel for any Underwriters or Holders in connection with blue sky qualification of any Exchange Securities or Registrable Securities), (iii) all expenses of any Persons in preparing or assisting in preparing, word processing, printing and distributing any Registration Statement, any Prospectus, any Free Writing Prospectus and any amendments or supplements thereto, any underwriting agreements, securities sales agreements or other similar agreements and any other documents relating to the performance of and compliance with this Agreement, (iv) all rating agency fees, (v) all fees and disbursements relating to the qualification of the Indenture under applicable securities laws and the Trust Indenture Act, (vi) the fees and disbursements of the Trustee and its counsel, (vii) the fees and disbursements of counsel for the Company and the Guarantors and, in the case of a Shelf Registration Statement, 

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the fees and disbursements of one counsel for the Participating Holders (which counsel shall be selected by the Participating Holders holding a majority of the aggregate principal amount of Registrable Securities held by such Participating Holders and which counsel may also be counsel for the Initial Purchasers) and (viii) the fees and disbursements of the independent registered public accountants of the Company and the Guarantors, including the expenses of any special audits or “comfort” letters required by or incident to the performance of and compliance with this Agreement, but excluding fees and expenses of counsel to the Underwriters (other than fees and expenses set forth in clause (ii) above) or the Holders and underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition of Registrable Securities by a Holder. 

“Registration Statement” shall mean any registration statement of the Company and the Guarantors that covers any of the Exchange Securities or Registrable Securities pursuant to the provisions of this Agreement and all amendments and supplements to any such registration statement, including post-effective amendments, in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein.

“SEC” shall mean the United States Securities and Exchange Commission. 

“Securities” shall have the meaning set forth in the preamble.

“Securities Act” shall mean the Securities Act of 1933, as amended from time to time. 

“Shelf Effectiveness Period” shall have the meaning set forth in Section 2(b) hereof. 

“Shelf Registration” shall mean a registration effected pursuant to Section 2(b) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company and the Guarantors that covers all or a portion of the Registrable Securities (but no other securities unless approved by a majority in aggregate principal amount of the Securities held by the Participating Holders) on an appropriate form under Rule 415 under the Securities Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein.

“Shelf Request” shall have the meaning set forth in Section 2(b) hereof.

“Staff” shall mean the staff of the SEC.

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“Target Registration Date” shall mean March 21, 2023.

“Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended from time to time.

“Trustee” shall mean the trustee with respect to the Securities under the Indenture. 

“Underwriter” shall have the meaning set forth in Section 3(e) hereof. 

“Underwritten Offering” shall mean an offering in which Registrable Securities are sold to an Underwriter for reoffering to the public. 

	
2.
	
Registration Under the Securities Act.  (a)  To the extent not prohibited by any applicable law or applicable interpretations of the Staff, the Company and the Guarantors shall use their commercially reasonable best efforts to (x) cause to be filed an Exchange Offer Registration Statement covering an offer to the Holders to exchange all the Registrable Securities for Exchange Securities and (y) have such Registration Statement become and remain effective until 180 days after the last Exchange Date for use by one or more Participating Broker-Dealers.  The Company and the Guarantors shall commence the Exchange Offer promptly after the Exchange Offer Registration Statement is declared effective by the SEC and use their commercially reasonable best efforts to complete the Exchange Offer not later than 60 days after such effective date.

The Company and the Guarantors shall commence the Exchange Offer by mailing or making available the related Prospectus, appropriate letters of transmittal and other accompanying documents to each Holder stating, in addition to such other disclosures as are required by applicable law, substantially the following: 

	
(i)
	
that the Exchange Offer is being made pursuant to this Agreement and that all Registrable Securities validly tendered and not properly withdrawn will be accepted for exchange; 

	
(ii)
	
the dates of acceptance for exchange (which shall be a period of at least 20 Business Days from the date such notice is mailed (or longer if required by applicable law)) (the “Exchange Dates”);

	
(iii)
	
that any Registrable Security not tendered will remain outstanding and continue to accrue interest but will not retain any rights under this Agreement, except as otherwise specified herein;

	
(iv)
	
that any Holder electing to have a Registrable Security exchanged pursuant to the Exchange Offer will be required to (A) surrender such Registrable Security, together with the appropriate letters of transmittal, to the institution and at the address and in the manner specified in the notice, 

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or (B) effect such exchange otherwise in compliance with the applicable procedures of the depositary for such Registrable Security, in each case prior to the close of business on the last Exchange Date; and 

	
(v)
	
that any Holder will be entitled to withdraw its election, not later than the close of business on the last Exchange Date, by (A) sending to the institution and at the address specified in the notice, a facsimile transmission or letter setting forth the name of such Holder, the principal amount of Registrable Securities delivered for exchange and a statement that such Holder is withdrawing its election to have such Securities exchanged or (B) effecting such withdrawal in compliance with the applicable procedures of the depositary for the Registrable Securities. 

As a condition to participating in the Exchange Offer, a Holder will be required to represent to the Company and the Guarantors that (1) any Exchange Securities to be received by it will be acquired in the ordinary course of its business, (2) at the time of the commencement of the Exchange Offer it has no arrangement or understanding with any Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act, (3) it is not an “affiliate” (within the meaning of Rule 405 under the Securities Act) of the Company or any Guarantor and (4) if such Holder is a broker-dealer that will receive Exchange Securities for its own account in exchange for Registrable Securities that were acquired as a result of market-making or other trading activities, then such Holder will deliver a Prospectus (or, to the extent permitted by law, make available a Prospectus to purchasers) in connection with any resale of such Exchange Securities.

As soon as practicable after the last Exchange Date, the Company and the Guarantors shall: 

	
(I)
	
accept for exchange Registrable Securities or portions thereof validly tendered and not properly withdrawn pursuant to the Exchange Offer; and 

	
(II)
	
deliver, or cause to be delivered, to the Trustee for cancellation all Registrable Securities or portions thereof so accepted for exchange by the Company and issue, and cause the Trustee to promptly authenticate and deliver to each Holder, Exchange Securities equal in principal amount to the principal amount of the Registrable Securities tendered by such Holder.

The Company and the Guarantors shall use their commercially reasonable best efforts to complete the Exchange Offer as provided above and shall comply with the applicable requirements of the Securities Act, the Exchange Act and other applicable laws and regulations in connection with the Exchange Offer.  The Exchange Offer shall not be subject to any conditions, other than that the Exchange Offer does not violate any applicable law or applicable interpretations of the Staff.

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(b)
	
In the event that (i) the Company and the Guarantors determine that the Exchange Offer Registration provided for in Section 2(a) hereof is not available or the Exchange Offer may not be completed as soon as practicable after the last Exchange Date because it would violate any applicable law or applicable interpretations of the Staff, (ii) the Exchange Offer is not for any other reason completed by the Target Registration Date or (iii) upon receipt of a written request (a “Shelf Request”) from any Initial Purchaser representing that it holds Registrable Securities that are or were ineligible to be exchanged in the Exchange Offer, the Company and the Guarantors shall use their commercially reasonable best efforts to cause to be filed as soon as practicable after such determination, date or Shelf Request, as the case may be, a Shelf Registration Statement providing for the sale of all the Registrable Securities by the Holders thereof and to have such Shelf Registration Statement become effective; provided that no Holder will be entitled to have any Registrable Securities included in any Shelf Registration Statement, or entitled to use the prospectus forming a part of such Shelf Registration Statement, until such Holder shall have delivered a completed and signed Notice and Questionnaire and provided such other information regarding such Holder to the Company as is contemplated by Section 3(b) hereof.

In the event that the Company and the Guarantors are required to file a Shelf Registration Statement pursuant to clause (iii) of the preceding sentence, the Company and the Guarantors shall use their commercially reasonable best efforts to file and have become effective both an Exchange Offer Registration Statement pursuant to Section 2(a) hereof with respect to all Registrable Securities and a Shelf Registration Statement (which may be a combined Registration Statement with the Exchange Offer Registration Statement) with respect to offers and sales of Registrable Securities held by the Initial Purchasers after completion of the Exchange Offer.  

The Company and the Guarantors agree to use their commercially reasonable best efforts to keep the Shelf Registration Statement continuously effective until the earlier of one year following the date that such Shelf Registration Statement is filed and when the Securities cease to be Registrable Securities (the “Shelf Effectiveness Period”).  The Company and the Guarantors further agree to supplement or amend the Shelf Registration Statement, the related Prospectus and any Free Writing Prospectus if required by the rules, regulations or instructions applicable to the registration form used by the Company for such Shelf Registration Statement or by the Securities Act or by any other rules and regulations thereunder or if reasonably requested by a Holder of Registrable Securities with respect to information relating to such Holder, and to use their commercially reasonable best efforts to cause any such amendment to become effective, if required, and such Shelf Registration Statement, Prospectus or Free Writing Prospectus, as the case may be, to become usable as soon as thereafter practicable.  The Company and the Guarantors agree to furnish to the Participating Holders copies of any such supplement or amendment promptly after its being used or filed with the SEC.  

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(c)
	
The Company and the Guarantors shall pay all Registration Expenses in connection with any registration pursuant to Section 2(a) or Section 2(b) hereof.  Each Holder shall pay all underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition of such Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 

	
(d)
	
An Exchange Offer Registration Statement pursuant to Section 2(a) hereof will not be deemed to have become effective unless it has been declared effective by the SEC.  A Shelf Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective unless it has been declared effective by the SEC or is automatically effective upon filing with the SEC as provided by Rule 462 under the Securities Act.

If a Registration Default occurs, the interest rate on the Registrable Securities will be increased by (i) 0.25% per annum for the first 90-day period beginning on the day immediately following such Registration Default and (ii) an additional 0.25% per annum with respect to each subsequent 90-day period, in each case until and including the date such Registration Default ends, up to a maximum increase of 0.50% per annum.  A Registration Default ends when the Securities cease to be Registrable Securities or, if earlier, (1) in the case of a Registration Default under clause (i) of the definition thereof, when the Exchange Offer is completed, (2) in the case of a Registration Default under clause (ii) or clause (iii) of the definition thereof, when the Shelf Registration Statement becomes effective or (3) in the case of a Registration Default under clause (iv) or clause (v) of the definition thereof, when the Shelf Registration Statement again becomes effective or the Prospectus again becomes usable.  If at any time more than one Registration Default has occurred and is continuing, then, until the next date that there is no Registration Default, the increase in interest rate provided for by this paragraph shall apply as if there occurred a single Registration Default that begins on the date that the earliest such Registration Default occurred and ends on such next date that there is no Registration Default.  Any such additional interest shall be paid by the Company on the next scheduled interest payment date in the same manner that interest is paid on the Registrable Securities.

	
(e)
	
Without limiting the remedies available to the Initial Purchasers and the Holders, the Company and the Guarantors acknowledge that any failure by the Company or the Guarantors to comply with their obligations under Section 2(a) and Section 2(b) hereof may result in material irreparable injury to the Initial Purchasers or the Holders for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of any such failure, the Initial Purchasers or any Holder may obtain such relief as may be required to specifically enforce the Company’s and the Guarantors' obligations under Section 2(a) and Section 2(b) hereof. The provisions for payment of additional interest set forth in Section 2(d) above shall be the only monetary remedy available to the Holders under this Agreement.

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3.
	
Registration Procedures.  (a) In connection with their obligations pursuant to Section 2(a) and Section 2(b) hereof, the Company and the Guarantors shall: 

	
(i)
	
prepare and file with the SEC a Registration Statement on the appropriate form under the Securities Act, which form (A) shall be selected by the Company and the Guarantors, (B) shall, in the case of a Shelf Registration, be available for the sale of the Registrable Securities by the Holders thereof and (C) shall comply as to form in all material respects with the requirements of the applicable form and include all financial statements required by the SEC to be filed therewith; and use their commercially reasonable best efforts to cause such Registration Statement to become effective and remain effective for the applicable period in accordance with Section 2 hereof; 

	
(ii)
	
prepare and file with the SEC such amendments and post-effective amendments to each Registration Statement as may be necessary to keep such Registration Statement effective for the applicable period in accordance with Section 2 hereof and cause each Prospectus to be supplemented by any required prospectus supplement and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act; and keep each Prospectus current during the period described in Section 4(3) of and Rule 174 under the Securities Act that is applicable to transactions by brokers or dealers with respect to the Registrable Securities or Exchange Securities; 

	
(iii)
	
to the extent any Free Writing Prospectus is used, file with the SEC any Free Writing Prospectus that is required to be filed by the Company or the Guarantors with the SEC in accordance with the Securities Act and to retain any Free Writing Prospectus not required to be filed;

	
(iv)
	
in the case of a Shelf Registration, furnish to each Participating Holder, to counsel for the Initial Purchasers, to counsel for such Participating Holders and to each Underwriter of an Underwritten Offering of Registrable Securities, if any, without charge, as many copies of each Prospectus, preliminary prospectus or Free Writing Prospectus, and any amendment or supplement thereto, as such Participating Holder, counsel or Underwriter may reasonably request in order to facilitate the sale or other disposition of the Registrable Securities thereunder; and, subject to Section 3(c) hereof, the Company and the Guarantors consent to the use of such Prospectus, preliminary prospectus or such Free Writing Prospectus and any amendment or supplement thereto in accordance with applicable law by each of the Participating Holders and any such Underwriters in connection with the offering and sale of the Registrable Securities covered by and in the manner described in such Prospectus, preliminary prospectus or such Free Writing Prospectus or any amendment or supplement thereto in accordance with applicable law; 

	
(v)
	
use their commercially reasonable best efforts to register or qualify the Registrable Securities under all applicable state securities or blue sky laws of 

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such jurisdictions as any Participating Holder shall reasonably request in writing by the time the applicable Registration Statement becomes effective; cooperate with such Participating Holders in connection with any filings required to be made with FINRA; and do any and all other acts and things that may be reasonably necessary or advisable to enable each Participating Holder to complete the disposition in each such jurisdiction of the Registrable Securities owned by such Participating Holder; provided that neither the Company nor any Guarantor shall be required to (1) qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (2) file any general consent to service of process in any such jurisdiction or (3) subject itself to taxation in any such jurisdiction if it is not so subject;

	
(vi)
	
notify counsel for the Initial Purchasers and, in the case of a Shelf Registration, notify each Participating Holder and counsel for such Participating Holders promptly and, if requested in writing by any such Participating Holder or counsel, confirm such advice in writing (1) when a Registration Statement has become effective, when any post-effective amendment thereto has been filed and becomes effective, when any Free Writing Prospectus has been filed or any amendment or supplement to the Prospectus or any Free Writing Prospectus has been filed, (2) of any request by the SEC or any state securities authority for amendments and supplements to a Registration Statement, Prospectus or any Free Writing Prospectus or for additional information after the Registration Statement has become effective, (3) of the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose, including the receipt by the Company of any notice of objection of the SEC to the use of a Shelf Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act, (4) if, between the applicable effective date of a Shelf Registration Statement and the closing of any sale of Registrable Securities covered thereby, the representations and warranties of the Company or any Guarantor contained in any underwriting agreement, securities sales agreement or other similar agreement, if any, relating to an offering of such Registrable Securities cease to be true and correct in all material respects or if the Company or any Guarantor receives any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, (5) of the happening of any event during the period a Registration Statement is effective that makes any statement made in such Registration Statement or the related Prospectus or any Free Writing Prospectus untrue in any material respect or that requires the making of any changes in such Registration Statement or Prospectus or any Free Writing Prospectus in order to make the statements therein not misleading and (6) of any determination by the Company or any Guarantor that a post-effective amendment to a Registration Statement or any amendment or supplement to the Prospectus or any Free Writing Prospectus would be appropriate; 

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(vii)
	
use their commercially reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement or, in the case of a Shelf Registration, the resolution of any objection of the SEC pursuant to Rule 401(g)(2) under the Securities Act, including by filing an amendment to such Registration Statement on the proper form, at the earliest possible moment and provide immediate notice to each Holder or Participating Holder of the withdrawal of any such order or such resolution; 

	
(viii)
	
in the case of a Shelf Registration, furnish or make available to each Participating Holder, without charge, at least one conformed copy of each Registration Statement and any post-effective amendment thereto (without any documents incorporated therein by reference or exhibits thereto, unless requested); 

	
(ix)
	
in the case of a Shelf Registration, cooperate with the Participating Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends and enable such Registrable Securities to be issued in such denominations and registered in such names (consistent with the provisions of the Indenture) as such Participating Holders may reasonably request at least one Business Day prior to the closing of any sale of Registrable Securities; 

	
(x)
	
upon the occurrence of any event contemplated by Section 3(a)(vi)(5) hereof, use their commercially reasonable best efforts to prepare and file with the SEC a supplement or post-effective amendment to the applicable Exchange Offer Registration Statement or Shelf Registration Statement or the related Prospectus or any Free Writing Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered (or, to the extent permitted by law, made available) to purchasers of the Registrable Securities, such Prospectus or Free Writing Prospectus, as the case may be, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and the Company and the Guarantors shall notify the Participating Holders (in the case of a Shelf Registration Statement) and the Initial Purchasers and any Participating Broker-Dealers known to the Company (in the case of an Exchange Offer Registration Statement) to suspend use of the Prospectus or any Free Writing Prospectus as promptly as practicable after the occurrence of such an event, and such Participating Holders, such Participating Broker-Dealers and the Initial Purchasers, as applicable, hereby agree to suspend use of the Prospectus or any Free Writing Prospectus, as the case may be, until the Company and the Guarantors have amended or supplemented the Prospectus or the Free Writing Prospectus, as the case may be, to correct such misstatement or omission; 

	
(xi)
	
a reasonable time prior to the filing of any Registration Statement, any Prospectus, any Free Writing Prospectus, any amendment to a Registration 

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Statement or amendment or supplement to a Prospectus or a Free Writing Prospectus or of any document that is to be incorporated by reference into a Registration Statement, a Prospectus or a Free Writing Prospectus after initial filing of a Registration Statement, provide copies of such document to the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, to the Participating Holders and their counsel) and make such of the representatives of the Company and the Guarantors as shall be reasonably requested by the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the Participating Holders or their counsel) available for discussion of such document; and the Company and the Guarantors shall not, at any time after initial filing of a Registration Statement, use or file any Prospectus, any Free Writing Prospectus, any amendment of or supplement to a Registration Statement or a Prospectus or a Free Writing Prospectus, or any document that is to be incorporated by reference into a Registration Statement, a Prospectus or a Free Writing Prospectus, of which the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, the Participating Holders and their counsel) shall not have previously been advised and furnished a copy or to which the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the Participating Holders or their counsel) shall reasonably object; 

	
(xii)
	
obtain a CUSIP number for all Exchange Securities or Registrable Securities, as the case may be, not later than the initial effective date of a Registration Statement; 

	
(xiii)
	
cause the Indenture to be qualified under the Trust Indenture Act in connection with the registration of the Exchange Securities or Registrable Securities, as the case may be; cooperate with the Trustee and the Holders to effect such changes to the Indenture as may be required for the Indenture to be so qualified in accordance with the terms of the Trust Indenture Act; and execute, and use their commercially reasonable best efforts to cause the Trustee to execute, all documents as may be required to effect such changes and all other forms and documents required to be filed with the SEC to enable the Indenture to be so qualified in a timely manner; 

	
(xiv)
	
in the case of a Shelf Registration, make available for inspection by a representative of the Participating Holders (an “Inspector”), any Underwriter participating in any disposition pursuant to such Shelf Registration Statement, any attorneys and accountants designated by a majority in aggregate principal amount of the Securities held by the Participating Holders and any attorneys and accountants designated by such Underwriter, at reasonable times and in a reasonable manner, all pertinent financial and other records, documents and properties of the Company and its subsidiaries, and cause the respective officers, directors and employees of the Company and the Guarantors to supply all information reasonably requested by any such Inspector, Underwriter, attorney or accountant in connection with a Shelf Registration Statement; provided that if any such information is identified by the Company or any Guarantor as being confidential or proprietary, each Person receiving such 

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information shall take such actions as are reasonably necessary to protect the confidentiality of such information to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of any Inspector, Holder or Underwriter);

	
(xv)
	
in the case of a Shelf Registration, use their commercially reasonable best efforts to cause all Registrable Securities to be listed on any securities exchange or any automated quotation system on which similar securities issued or guaranteed by the Company or any Guarantor are then listed if requested by the Majority Holders, to the extent such Registrable Securities satisfy applicable listing requirements; 

	
(xvi)
	
if reasonably requested by any Participating Holder, promptly include in a Prospectus supplement or post-effective amendment such information with respect to such Participating Holder as such Participating Holder reasonably requests to be included therein and make all required filings of such Prospectus supplement or such post-effective amendment as soon as the Company has received notification of the matters to be so included in such filing; 

	
(xvii)
	
in the case of a Shelf Registration, enter into such customary agreements and take all such other commercially reasonable actions in connection therewith (including those requested by the Holders of a majority in principal amount of the Registrable Securities covered by the Shelf Registration Statement) in order to expedite or facilitate the disposition of such Registrable Securities including, but not limited to, an Underwritten Offering and in such connection, (1) to the extent possible, make such representations and warranties to the Participating Holders and any Underwriters of such Registrable Securities with respect to the business of the Company and its subsidiaries and the Registration Statement, Prospectus, any Free Writing Prospectus and documents incorporated by reference or deemed incorporated by reference, if any, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings and confirm the same if and when requested, (2) obtain opinions of counsel to the Company and the Guarantors (which counsel and opinions, in form, scope and substance, shall be reasonably satisfactory to the Participating Holders and such Underwriters and their respective counsel) addressed to each Participating Holder and Underwriter of Registrable Securities, covering the matters customarily covered in opinions requested in underwritten offerings, (3) obtain “comfort” letters from the independent registered public accountants of the Company and the Guarantors (and, if necessary, any other registered public accountant of any subsidiary of the Company or any Guarantor, or of any business acquired by the Company or any Guarantor for which financial statements and financial data are or are required to be included in the Registration Statement) addressed to each Participating Holder (to the extent permitted by applicable professional standards) and Underwriter of Registrable Securities, such letters to be in customary form and covering matters of the type customarily covered in “comfort” letters in connection with underwritten offerings, including but not limited to financial 

14

 

		
information contained in any preliminary prospectus, Prospectus or Free Writing Prospectus and (4) deliver such documents and certificates as may be reasonably requested by the Holders of a majority in principal amount of the Registrable Securities being sold or the Underwriters, and which are customarily delivered in underwritten offerings, to evidence the continued validity of the representations and warranties of the Company and the Guarantors made pursuant to clause (1) above and to evidence compliance with any customary conditions contained in an underwriting agreement; and 

	
(xviii)
	
so long as any Registrable Securities remain outstanding, cause each Additional Guarantor upon the creation or acquisition by the Company of such Additional Guarantor, to execute a counterpart to this Agreement in the form attached hereto as Annex A and to deliver such counterpart, together with an opinion of counsel as to the enforceability thereof against such entity, to the Initial Purchasers no later than five Business Days following the execution thereof.

	
(b)
	
In the case of a Shelf Registration Statement, the Company may require each Holder of Registrable Securities to furnish to the Company a Notice and Questionnaire and such other information regarding such Holder and the proposed disposition by such Holder of such Registrable Securities as the Company and the Guarantors may from time to time reasonably request in writing.

	
(c)
	
Each Participating Holder agrees that, upon receipt of any notice from the Company and the Guarantors of the happening of any event of the kind described in Section 3(a)(vi)(3) or Section 3(a)(vi)(5) hereof, such Participating Holder will forthwith discontinue disposition of Registrable Securities pursuant to the Shelf Registration Statement until such Participating Holder’s receipt of the copies of the supplemented or amended Prospectus and any Free Writing Prospectus contemplated by Section 3(a)(x) hereof and, if so directed by the Company and the Guarantors, such Participating Holder will deliver to the Company and the Guarantors all copies in its possession, other than permanent file copies then in such Participating Holder’s possession, of the Prospectus and any Free Writing Prospectus covering such Registrable Securities that is current at the time of receipt of such notice.

	
(d)
	
If the Company and the Guarantors shall give any notice to suspend the disposition of Registrable Securities pursuant to a Registration Statement, the Company and the Guarantors shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement by the number of days during the period from and including the date of the giving of such notice to and including the date when the Holders of such Registrable Securities shall have received copies of the supplemented or amended Prospectus or any Free Writing Prospectus necessary to resume such dispositions. The Company and the Guarantors may give any such notice only twice during any 365-day period and any such suspensions shall not exceed 30 

15

 

		
days for each suspension and there shall not be more than two suspensions in effect during any 365-day period. 

	
(e)
	
The Participating Holders who desire to do so may sell such Registrable Securities in an Underwritten Offering.  In any such Underwritten Offering, the investment bank or investment banks and manager or managers (each an “Underwriter”) that will administer the offering will be selected by the Holders of a majority in principal amount of the Registrable Securities included in such offering; provided, however, that such Underwriters shall be reasonably satisfactory to the Company.

	
4.
	
Participation of Broker-Dealers in Exchange Offer.  (a)  The Staff has taken the position that any broker-dealer that receives Exchange Securities for its own account in the Exchange Offer in exchange for Securities that were acquired by such broker-dealer as a result of market-making or other trading activities (a “Participating Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Securities Act and must deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of such Exchange Securities. 

 

The Company and the Guarantors understand that it is the Staff’s position that if the Prospectus contained in the Exchange Offer Registration Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell the Exchange Securities, without naming the Participating Broker-Dealers or specifying the amount of Exchange Securities owned by them, such Prospectus may be delivered by Participating Broker-Dealers (or, to the extent permitted by law, made available to purchasers) to satisfy their prospectus delivery obligation under the Securities Act in connection with resales of Exchange Securities for their own accounts, so long as the Prospectus otherwise meets the requirements of the Securities Act. 

	
(b)
	
In light of the above, and notwithstanding the other provisions of this Agreement, the Company and the Guarantors agree to amend or supplement the Prospectus contained in the Exchange Offer Registration Statement for a period of up to 180 days after the last Exchange Date (as such period may be extended pursuant to Section 3(d) hereof), in order to expedite or facilitate the disposition of any Exchange Securities by Participating Broker-Dealers consistent with the positions of the Staff recited in Section 4(a) above.  The Company and the Guarantors further agree that Participating Broker-Dealers shall be authorized to deliver such Prospectus (or, to the extent permitted by law, make available) during such period in connection with the resales contemplated by this Section 4.

16

 

	
(c)
	
The Initial Purchasers shall have no liability to the Company, any Guarantor or any Holder with respect to any request that they may make pursuant to Section 4(b) hereof. 

	
 5.
	
Indemnification and Contribution.  (a)  The Company and each Guarantor, jointly and severally, agree to indemnify and hold harmless each Initial Purchaser and each Holder, their respective affiliates, directors and officers and each Person, if any, who controls any Initial Purchaser or any Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, (1) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading, or (2) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus, any Free Writing Prospectus or any “issuer information” (“Issuer Information”) filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Initial Purchaser or information relating to any Holder furnished to the Company in writing through the Representatives or any selling Holder, respectively, expressly for use therein.  In connection with any Underwritten Offering permitted by Section 3, the Company and the Guarantors, jointly and severally, will also indemnify the Underwriters, if any, selling brokers, dealers and similar securities industry professionals participating in the distribution, their respective affiliates and each Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders, if requested in connection with any Registration Statement, any Prospectus, any Free Writing Prospectus or any Issuer Information.

	
(b)
	
Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, the Guarantors, the Initial Purchasers and the other selling Holders, the directors of the Company and the Guarantors, each officer of the Company and the Guarantors who signed the Registration Statement and each Person, if any, who controls the Company, the Guarantors, any Initial Purchaser and any other selling Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue 

17

 

		
statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to such Holder furnished to the Company in writing by such Holder expressly for use in any Registration Statement, any Prospectus and any Free Writing Prospectus.

	
 (c)
	
If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted against any Person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such Person (the “Indemnified Person”) shall promptly notify the Person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under paragraph (a) or (b) above except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under paragraph (a) or (b) above.  If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 5 that the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as incurred.  In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them.  It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred.  Any such separate firm (x) for any Initial Purchaser, its affiliates, directors and officers and any control Persons of such Initial Purchaser shall be designated in writing by the Representatives , (y) for any Holder, its directors and officers and any control Persons of such Holder shall be designated in writing by the Majority Holders and (z) in all other cases shall be designated in writing by the Company.  The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be 

18

 

		
a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment.  Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested that an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement.  No Indemnifying Person shall, without the written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person.

	
(d)
	
If the indemnification provided for in paragraphs (a) and (b) above is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantors from the offering of the Securities and the Exchange Securities, on the one hand, and by the Holders from receiving Securities or Exchange Securities registered under the Securities Act, on the other hand, or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company and the Guarantors on the one hand and the Holders on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations.  The relative fault of the Company and the Guarantors on the one hand and the Holders on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company and the Guarantors or by the Holders and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

	
(e)
	
The Company, the Guarantors and the Holders agree that it would not be just and equitable if contribution pursuant to this Section 5 were 

19

 

		
determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in paragraph (d) above.  The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim.  Notwithstanding the provisions of this Section 5, in no event shall a Holder be required to contribute any amount in excess of the amount by which the total price at which the Securities or Exchange Securities sold by such Holder exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.  No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.  The Holders’ obligations to contribute pursuant to this Section 5 are several and not joint.

	
(f)
	
The remedies provided for in this Section 5 are not exclusive and shall not limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity.

	
(g)
	
The indemnity and contribution provisions contained in this Section 5 shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of the Initial Purchasers or any Holder or any Person controlling any Initial Purchaser or any Holder, or by or on behalf of the Company or the Guarantors or the officers or directors of or any Person controlling the Company or the Guarantors, (iii) acceptance of any of the Exchange Securities and (iv) any sale of Registrable Securities pursuant to a Shelf Registration Statement. 

	
6.
	
General. 

	
(a)
	
No Inconsistent Agreements.   The Company and the Guarantors represent, warrant and agree that (i) the rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of any other outstanding securities issued or guaranteed by the Company or any Guarantor under any other agreement and (ii) neither the Company nor any Guarantor has entered into, or on or after the date of this Agreement will enter into, any agreement that is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof.

	
(b)
	
Amendments and Waivers.   The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company and the Guarantors have obtained the written consent of Holders of at least a majority in aggregate principal amount of 

20

 

		
the outstanding Registrable Securities affected by such amendment, modification, supplement, waiver or consent; provided that no amendment, modification, supplement, waiver or consent to any departure from the provisions of Section 5 hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such Holder.  Any amendments, modifications, supplements, waivers or consents pursuant to this Section 6(b) shall be by a writing executed by each of the parties hereto.

	
(c)
	
Notices.  All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, telecopier, or any courier guaranteeing overnight delivery (i) if to a Holder, at the most current address given by such Holder to the Company by means of a notice given in accordance with the provisions of this Section 6(c), which address initially is, with respect to the Initial Purchasers, the address set forth in the Purchase Agreement; (ii) if to the Company and the Guarantors, initially at the Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c); and (iii) to such other persons at their respective addresses as provided in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c).  All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if telecopied; and on the next Business Day if timely delivered to an air courier guaranteeing overnight delivery.  Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee, at the address specified in the Indenture. 

	
(d)
	
Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided that nothing herein shall be deemed to permit any assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture.  If any transferee of any Holder shall acquire Registrable Securities in any manner, whether by operation of law or otherwise, such Registrable Securities shall be held subject to all the terms of this Agreement, and by taking and holding such Registrable Securities such Person shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of this Agreement and such Person shall be entitled to receive the benefits hereof.  The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company or the Guarantors with respect to any failure by a Holder to comply with, or any breach by any Holder of, any of the obligations of such Holder under this Agreement. 

21

 

	
(e)
	
Third Party Beneficiaries.  Each Holder shall be a third party beneficiary to the agreements made hereunder between the Company and the Guarantors, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights or the rights of other Holders hereunder. 

	
(f)
	
Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Agreement or any  document to be signed in connection with this Agreement shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct the transactions contemplated hereunder by electronic means.

	
(g)
	
Headings.  The headings in this Agreement are for convenience of reference only, are not a part of this Agreement and shall not limit or otherwise affect the meaning hereof. 

	
(h)
	
Governing Law.  This Agreement, and any claim, controversy or dispute arising under or related to this Agreement, shall be governed by and construed in accordance with the laws of the State of New York. 

	
(j)
	
Entire Agreement; Severability.  This Agreement contains the entire agreement between the parties relating to the subject matter hereof and supersedes all oral statements and prior writings with respect thereto.  If any term, provision, covenant or restriction contained in this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable or against public policy, the remainder of the terms, provisions, covenants and restrictions contained herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated.  The Company, the Guarantors and the Initial Purchasers shall endeavor in good faith negotiations to replace the invalid, void or unenforceable provisions with valid provisions the economic effect of which  comes as close as possible to that of the invalid, void or unenforceable provisions.

22

 

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

UNIVERSAL HEALTH SERVICES, INC.

By: /s/ Steve Filton
Name: Steve Filton
Title: Executive Vice President, Secretary and Chief Financial Officer

 

UHS OF DELAWARE, INC.

By: /s/ Steve Filton
Name: Steve Filton
Title: Executive Vice President and Chief Financial
Officer

 

[Signature Page to Registration Rights Agreement]

 

ABS LINCS SC, INC.

ABS LINCS VA, INC.

ALLIANCE HEALTH CENTER, INC.

ALTERNATIVE BEHAVIORAL SERVICES, INC. 

ASCEND HEALTH CORPORATION

BENCHMARK BEHAVIORAL HEALTH SYSTEM, INC.

BHC ALHAMBRA HOSPITAL, INC.

BHC BELMONT PINES HOSPITAL, INC.

BHC FAIRFAX HOSPITAL, INC.

BHC FOX RUN HOSPITAL, INC.

BHC FREMONT HOSPITAL, INC.

BHC HEALTH SERVICES OF NEVADA, INC.

BHC HERITAGE OAKS HOSPITAL, INC.

BHC HOLDINGS, INC.

BHC INTERMOUNTAIN HOSPITAL, INC.

BHC MONTEVISTA HOSPITAL, INC.

BHC SIERRA VISTA HOSPITAL, INC.

BHC STREAMWOOD HOSPITAL, INC.

BRENTWOOD ACQUISITION, INC.

BRENTWOOD ACQUISITION - SHREVEPORT, INC. 

BRYNN MARR HOSPITAL, INC.

CALVARY CENTER, INC.

CANYON RIDGE HOSPITAL, INC.

CCS/LANSING, INC.

CEDAR SPRINGS HOSPITAL, INC.

CHILDREN’S COMPREHENSIVE SERVICES, INC.

DEL AMO HOSPITAL, INC.

FIRST HOSPITAL CORPORATION OF VIRGINIA BEACH

FORT LAUDERDALE HOSPITAL, INC.

FRN, INC.

FRONTLINE BEHAVIORAL HEALTH, INC.

GREAT PLAINS HOSPITAL, INC.

GULF COAST TREATMENT CENTER, INC.

H. C. CORPORATION

HARBOR POINT BEHAVIORAL HEALTH CENTER, INC.

HAVENWYCK HOSPITAL INC.

HHC AUGUSTA, INC.

HHC DELAWARE, INC.

HHC INDIANA, INC.

HHC OHIO, INC.

HHC RIVER PARK, INC.

HHC SOUTH CAROLINA, INC.

HHC ST. SIMONS, INC.

HORIZON HEALTH AUSTIN, INC.

HORIZON HEALTH CORPORATION 

HSA HILL CREST CORPORATION

KIDS BEHAVIORAL HEALTH OF UTAH, INC.

LANCASTER HOSPITAL CORPORATION 

LAUREL OAKS BEHAVIORAL HEALTH CENTER, INC. 

MCALLEN MEDICAL CENTER, INC.

MERIDELL ACHIEVEMENT CENTER, INC.

MERION BUILDING MANAGEMENT, INC. 

MICHIGAN PSYCHIATRIC SERVICES, INC.

NORTH SPRING BEHAVIORAL HEALTHCARE, INC. 

NORTHWEST TEXAS HEALTHCARE SYSTEM, INC.

OAK PLAINS ACADEMY OF TENNESSEE, INC.

PARK HEALTHCARE COMPANY

PENNSYLVANIA CLINICAL SCHOOLS, INC.

PREMIER BEHAVIORAL SOLUTIONS, INC.

PREMIER BEHAVIORAL SOLUTIONS OF FLORIDA, INC. 

PSYCHIATRIC SOLUTIONS, INC.

PSYCHIATRIC SOLUTIONS OF VIRGINIA, INC.

RAMSAY YOUTH SERVICES OF GEORGIA, INC. 

RIVER OAKS, INC.

[Signature Page to Registration Rights Agreement]

 

RIVEREDGE HOSPITAL HOLDINGS, INC.

SOUTHEASTERN HOSPITAL CORPORATION

SPARKS FAMILY HOSPITAL, INC.

SPRINGFIELD HOSPITAL, INC.

STONINGTON BEHAVIORAL HEALTH, INC.

SUMMIT OAKS HOSPITAL, INC.

TEMECULA VALLEY HOSPITAL, INC.

TEMPLE BEHAVIORAL HEALTHCARE HOSPITAL, INC.

TEXAS HOSPITAL HOLDINGS, INC.

THE ARBOUR, INC.

TWO RIVERS PSYCHIATRIC HOSPITAL, INC. 

UHS CHILDREN SERVICES, INC.

UHS HOLDING COMPANY, INC.

UHS OF CORNERSTONE, INC.

UHS OF CORNERSTONE HOLDINGS, INC. 

UHS OF D.C., INC.

UHS OF DENVER, INC.

UHS OF FAIRMOUNT, INC. 

UHS OF FULLER, INC.

UHS OF GEORGIA, INC.

UHS OF GEORGIA HOLDINGS, INC.

UHS OF HAMPTON, INC.

UHS OF HARTGROVE, INC

UHS OF MADERA, INC.

UHS OF PARKWOOD, INC.

UHS OF PENNSYLVANIA, INC.

UHS OF PROVO CANYON, INC.

UHS OF PUERTO RICO, INC.

UHS OF RIVER PARISHES, INC.

UHS OF SPRING MOUNTAIN, INC.

UHS OF TEXOMA, INC.

UHS OF TIMBERLAWN, INC.

UHS OF TIMPANOGOS, INC.

UHS OF WESTWOOD PEMBROKE, INC.

UHS OF WYOMING, INC.

UHS SAHARA, INC.

UHS-CORONA, INC.

UNITED HEALTHCARE OF HARDIN, INC.

UNIVERSAL HEALTH SERVICES OF PALMDALE, INC.

UNIVERSAL HEALTH SERVICES OF RANCHO SPRINGS, INC.

VALLEY HOSPITAL MEDICAL CENTER, INC. 

WINDMOOR HEALTHCARE INC.

WINDMOOR HEALTHCARE OF PINELLAS PARK, INC.

WISCONSIN AVENUE PSYCHIATRIC CENTER, INC.

 

 

 

 

 

 

By: /s/ Steve Filton
Name: Steve Filton
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

AIKEN REGIONAL MEDICAL CENTERS, LLC

LA AMISTAD RESIDENTIAL TREATMENT CENTER, LLC

PALM POINT BEHAVIORAL HEALTH, LLC

TENNESSEE CLINICAL SCHOOLS, LLC

THE BRIDGEWAY, LLC

TURNING POINT CARE CENTER, LLC

UHS OF BENTON, LLC

UHS OF BOWLING GREEN, LLC

UHS OF GREENVILLE, LLC

UHS OF LAKESIDE, LLC

UHS OF PHOENIX, LLC

UHS OF RIDGE, LLC

UHS OF ROCKFORD, LLC

UHS OF TUCSON, LLC

UHS SUB III, LLC

UHSD, LLC

WELLINGTON REGIONAL MEDICAL CENTER, LLC

 

By: Universal Health Services, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton
Title: Executive Vice President, Secretary and Chief Financial Officer

 

[Signature Page to Registration Rights Agreement]

 

FORT DUNCAN MEDICAL CENTER, L.P.

By: Fort Duncan Medical Center, Inc.
Its general partner

By: /s/ Steve Filton
Name: Steve Filton
Title: Vice President

 

 

[Signature Page to Registration Rights Agreement]

 

FRONTLINE HOSPITAL, LLC
FRONTLINE RESIDENTIAL TREATMENT CENTER, LLC

By: Frontline Behavioral Health, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

KEYS GROUP HOLDINGS LLC

By: UHS Children Services, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

KEYSTONE/CCS PARTNERS LLC

By: Children’s Comprehensive Services, Inc.
Its Minority Member

 

By: KEYS Group Holdings LLC
Its Managing Member and sole member of the minority member

 

By: UHS Children Services, Inc.
Its sole member

 

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

KEYSTONE CONTINUUM, LLC
KEYSTONE NPS LLC
KEYSTONE RICHLAND CENTER, LLC

By: Keystone/CCS Partners LLC 
Its sole member

By: Children’s Comprehensive Services, Inc.
Its minority member

By: KEYS Group Holdings LLC
Its managing member and sole member of the minority member

By: UHS Children Services, Inc.
Its sole member

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

KEYSTONE EDUCATION AND YOUTH SERVICES, LLC

By: KEYS Group Holdings LLC
Its sole member

By: UHS Children Services, Inc.
Its sole member

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

KEYSTONE MARION, LLC
KEYSTONE MEMPHIS, LLC 
KEYSTONE NEWPORT NEWS, LLC 
KEYSTONE WSNC, L.L.C.

By: Keystone Education and Youth Services, LLC
Its sole member

By: KEYS Group Holdings LLC
Its sole member

By: UHS Children Services, Inc.
Its sole member

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

 

[Signature Page to Registration Rights Agreement]

 

MANATEE MEMORIAL HOSPITAL, L.P.

By: Wellington Regional Medical Center, LLC
Its general partner

 

By: Universal Health Services, Inc., 

Its sole member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Executive Vice President, Secretary and Chief
Financial Officer 

 

[Signature Page to Registration Rights Agreement]

 

MCALLEN HOSPITALS, L.P.

By: McAllen Medical Center, Inc.
Its general partner

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

PENDLETON METHODIST HOSPITAL, L.L.C.

By: UHS of River Parishes, Inc.
Its managing member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

[Signature Page to Registration Rights Agreement]

 

GULPH MILLS ASSOCIATES, LLC
TBD ACQUISITION II, LLC
UHS KENTUCKY HOLDINGS, L.L.C.
UHS OF LANCASTER, LLC
UHS OF NEW ORLEANS, LLC
UHS OF OKLAHOMA, LLC
UHSL, L.L.C.

By: UHS of Delaware, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Executive Vice President and Chief Financial
Officer 

[Signature Page to Registration Rights Agreement]

 

UHS OF ANCHOR, L.P.
UHS OF LAUREL HEIGHTS, L.P. 
UHS OF PEACHFORD, L.P.

By: UHS of Georgia, Inc.
Its general partner

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

UHS OF CENTENNIAL PEAKS, L.L.C.

By: UHS of Denver, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

UHS OF DOVER, L.L.C.

By: UHS of Rockford, LLC 
Its sole member

 

By: Universal Health Services, Inc.

Its sole member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Executive Vice President, Secretary and Chief
Financial Officer 

[Signature Page to Registration Rights Agreement]

 

UHS OF DOYLESTOWN, L.L.C.

By: UHS of Pennsylvania, Inc. 
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

UHS OF SALT LAKE CITY, L.L.C.

By: UHS of Provo Canyon, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

 

[Signature Page to Registration Rights Agreement]

 

UHS OF SAVANNAH, L.L.C.

By: UHS of Georgia Holdings, Inc. 
Its sole member

By: /s/ Steve Filton
Name: Steve Filton
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

UHS OF SPRINGWOODS, L.L.C.
UHS OKLAHOMA CITY LLC

By: UHS of New Orleans, LLC
Its sole member

By: UHS of Delaware, Inc.

Its sole member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Executive Vice President and Chief
Financial Officer 

 

 

[Signature Page to Registration Rights Agreement]

 

UHS OF SUMMITRIDGE, LLC

By: UHS of Peachford, L.P.
Its sole member

By: UHS of Georgia, Inc.
Its general partner

 

By: /s/ Steve Filton
Name:Steve Filton 
Title:Vice President

 

[Signature Page to Registration Rights Agreement]

 

PSYCHIATRIC SOLUTIONS HOSPITALS, LLC

By: Psychiatric Solutions, Inc. 
Its Sole Member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

DIAMOND GROVE CENTER, LLC
KMI ACQUISITION, LLC
LIBERTY POINT BEHAVIORAL HEALTHCARE, LLC
PSJ ACQUISITION, LLC
SHADOW MOUNTAIN BEHAVIORAL HEALTH SYSTEM, LLC
SUNSTONE BEHAVIORAL HEALTH, LLC
TBD ACQUISITION, LLC

By: Psychiatric Solutions Hospitals, LLC
Its Sole Member

By: Psychiatric Solutions, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

ATLANTIC SHORES HOSPITAL, L.L.C.
EMERALD COAST BEHAVIORAL HOSPITAL, LLC
OCALA BEHAVIORAL HEALTH, LLC
PALMETTO BEHAVIORAL HEALTH HOLDINGS, LLC
RAMSAY MANAGED CARE, LLC
SAMSON PROPERTIES, LLC
TBJ BEHAVIORAL CENTER, LLC
THREE RIVERS HEALTHCARE GROUP, LLC
WEKIVA SPRINGS CENTER, LLC
ZEUS ENDEAVORS, LLC

By: Premier Behavioral Solutions, Inc.
Its Sole Member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

 

[Signature Page to Registration Rights Agreement]

 

PALMETTO BEHAVIORAL HEALTH SYSTEM, L.L.C.

By: Palmetto Behavioral Health Holdings, LLC
Its Sole Member

 

By: Premier Behavioral Solutions, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

 

[Signature Page to Registration Rights Agreement]

 

PALMETTO LOWCOUNTRY BEHAVIORAL HEALTH, L.L.C.

By: Palmetto Behavioral Health System, L.L.C.
Its Sole Member

By: Palmetto Behavioral Health Holdings, LLC
Its Sole Member

By: Premier Behavioral Solutions, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

SP BEHAVIORAL, LLC
UNIVERSITY BEHAVIORAL, LLC

By: Ramsay Managed Care, LLC
Its Sole Member

By: Premier Behavioral Solutions, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

THREE RIVERS BEHAVIORAL HEALTH, LLC

By: Three Rivers Healthcare Group, LLC
Its Sole Member

By: Premier Behavioral Solutions, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

THE NATIONAL DEAF ACADEMY, LLC

By: Zeus Endeavors, LLC
Its Sole Member

By: Premier Behavioral Solutions, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

WILLOW SPRINGS, LLC

By: BHC Health Services of Nevada, Inc.
Its Sole Member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

BHC PINNACLE POINTE HOSPITAL, LLC
BHC PROPERTIES, LLC
COLUMBUS HOSPITAL PARTNERS, LLC
HOLLY HILL HOSPITAL, LLC
LEBANON HOSPITAL PARTNERS, LLC
NORTHERN INDIANA PARTNERS, LLC
ROLLING HILLS HOSPITAL, LLC
VALLE VISTA HOSPITAL PARTNERS, LLC

By: Behavioral Healthcare LLC
Its Sole Member

By: BHC Holdings, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

BHC MESILLA VALLEY HOSPITAL, LLC
BHC NORTHWEST PSYCHIATRIC HOSPITAL, LLC
CUMBERLAND HOSPITAL PARTNERS, LLC

By: BHC Properties, LLC
Its Sole Member

By: Behavioral Healthcare LLC
Its Sole Member

By: BHC Holdings, Inc. 
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

CUMBERLAND HOSPITAL, LLC

By: Cumberland Hospital Partners, LLC
Its Managing Member

By: BHC Properties, LLC
Its Minority Member and Sole Member of the Managing Member

By: Behavioral Healthcare LLC
Its Sole Member

By: BHC Holdings, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

VALLE VISTA, LLC

By: BHC of Indiana, General Partnership
Its Sole Member

By: Columbus Hospital Partners, LLC
Its General Partner

By: Lebanon Hospital Partners, LLC
Its General Partner

By: Northern Indiana Partners, LLC
Its General Partner

By: Valle Vista Hospital Partners, LLC
Its General Partner

By: Behavioral Healthcare LLC
The Sole Member of each of the above General Partners

By: BHC Holdings, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

WELLSTONE REGIONAL HOSPITAL ACQUISITION, LLC

By: Wellstone Holdings, Inc.
Its Minority Member

By: Behavioral Healthcare LLC
Its Managing Member and Sole Member of the Minority Member

By: BHC Holdings, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

BEHAVIORAL HEALTHCARE LLC

By: BHC Holdings, Inc.
Its Sole Member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

HORIZON HEALTH HOSPITAL SERVICES, LLC
HORIZON MENTAL HEALTH MANAGEMENT, LLC 

By: Horizon Health Corporation
Its Sole Member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

HHC PENNSYLVANIA, LLC
HHC POPLAR SPRINGS, LLC
KINGWOOD PINES HOSPITAL, LLC
SCHICK SHADEL OF FLORIDA, LLC
TOLEDO HOLDING CO., LLC

By: Horizon Health Hospital Services, LLC
Its Sole Member

By: Horizon Health Corporation
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

HICKORY TRAIL HOSPITAL, L.P.
MILLWOOD HOSPITAL, L.P.
NEURO INSTITUTE OF AUSTIN, L.P.
TEXAS CYPRESS CREEK HOSPITAL, L.P.
TEXAS LAUREL RIDGE HOSPITAL, L.P.
TEXAS OAKS PSYCHIATRIC HOSPITAL, L.P.
TEXAS SAN MARCOS TREATMENT CENTER, L.P.
TEXAS WEST OAKS HOSPITAL, L.P.

By: Texas Hospital Holdings, LLC
Its General Partner

By: Psychiatric Solutions Hospitals, LLC
Its Sole Member

By: Psychiatric Solutions, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

SHC-KPH, LP

By: HHC Kingwood Investment, LLC
Its General Partner

By: Horizon Health Hospital Services, LLC 
Sole member of the General Partner

By: Horizon Health Corporation
Its sole member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

H.C. PARTNERSHIP

By: H.C. Corporation
Its General Partner

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

By: HSA Hill Crest Corporation
Its General Partner

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

BHC OF INDIANA, GENERAL PARTNERSHIP

By: Columbus Hospital Partners, LLC
Its General Partner

By: Lebanon Hospital Partners, LLC
Its General Partner

By: Northern Indiana Partners, LLC
Its General Partner

By: Valle Vista Hospital Partners, LLC
Its General Partner

By: BHC Healthcare, LLC
The Sole Member of each of the above General Partners

By: BHC Holdings, Inc.
Its Sole Member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

INDEPENDENCE PHYSICIAN MANAGEMENT, LLC

By: UHS of Fairmount, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

[Signature Page to Registration Rights Agreement]

 

Behavioral Health Management, LLC
Behavioral Health Realty, LLC
CAT Realty, LLC
CAT Seattle, LLC
MAYHILL BEHAVIORAL HEALTH, LLC
Psychiatric Realty, LLC
RR RECOVERY, LLC
Salt Lake Behavioral Health, LLC
Salt Lake Psychiatric Realty, LLC
UBH OF OREGON, LLC
UBH of Phoenix, LLC
UBH of Phoenix Realty, LLC
University Behavioral Health of El Paso, LLC

By: Ascend Health Corporation
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

[Signature Page to Registration Rights Agreement]

 

GARFIELD PARK HOSPITAL, LLC

By: UHS of Hartgrove, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

abs lincs ky, llc
HUGHES CENTER, LLC

By: Alternative Behavioral Services, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

VALLEY HEALTH SYSTEM LLC

By: Valley Hospital Medical Center, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

UHP LP

By: Island 77 LLC
Its general partner

By: Ascend Health Corporation
Its sole member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

BEACH 77 LP

By: 2026 W. University Properties, LLC

Its general partner

By: Ascend Health Corporation
Its sole member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

CORAL SHORES BEHAVIORAL HEALTH, LLC

By: Children’s Comprehensive Services, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

DVH HOSPITAL ALLIANCE LLC

By: UHS Holding Company, Inc.
Its sole member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

DHP 2131 K ST, LLC

By: District Hospital Partners, L.P.

Its sole member

By: UHS of D.C., Inc.
Its general partner

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Vice President

 

[Signature Page to Registration Rights Agreement]

 

UHS FUNDING, LLC

By: UHS of Delaware, Inc.
Its majority member

By: /s/ Steve Filton
Name: Steve Filton 
Title: Executive Vice President and Chief Financial
Officer

 

[Signature Page to Registration Rights Agreement]

 

MILWAUKEE BEHAVIORAL HEALTH, LLC

By: UHS Funding, LLC

Its majority member

 

By: UHS of Delaware, Inc.

Its majority member

 

 

By: /s/ Steve Filton
Name: Steve Filton 
Title: Executive Vice President and Chief Financial Officer

 

[Signature Page to Registration Rights Agreement]

 

Schedule 1

Initial Guarantors

 

	
 
	
Entity Name
	
Jurisdiction of Formation

	
1.
	
ABS LINCS KY, LLC
	
Virginia

	
2.
	
ABS LINCS SC, Inc.
	
South Carolina

	
3.
	
ABS LINCS VA, Inc.
	
Virginia

	
4.
	
Aiken Regional Medical Centers, LLC
	
South Carolina

	
5.
	
Alliance Health Center, Inc.
	
Mississippi

	
6.
	
Alternative Behavioral Services, Inc.
	
Virginia

	
7.
	
Ascend Health Corporation
	
Delaware

	
8.
	
Atlantic Shores Hospital, LLC
	
Delaware

	
9.
	
Beach 77 LP
	
Delaware

	
10.
	
Behavioral Health Management, LLC
	
Delaware

	
11.
	
Behavioral Health Realty, LLC
	
Delaware

	
12.
	
Behavioral Healthcare LLC
	
Delaware

	
13.
	
Benchmark Behavioral Health System, Inc.
	
Utah

	
14.
	
BHC Alhambra Hospital, Inc.
	
Tennessee

	
15.
	
BHC Belmont Pines Hospital, Inc.
	
Tennessee

	
16.
	
BHC Fairfax Hospital, Inc.
	
Tennessee

	
17.
	
BHC Fox Run Hospital, Inc.
	
Tennessee

	
18.
	
BHC Fremont Hospital, Inc.
	
Tennessee

	
19.
	
BHC Health Services of Nevada, Inc.
	
Nevada

	
20.
	
BHC Heritage Oaks Hospital, Inc.
	
Tennessee

	
21.
	
BHC Holdings, Inc.
	
Delaware

	
22.
	
BHC Intermountain Hospital, Inc.
	
Tennessee

	
23.
	
BHC of Indiana, General Partnership
	
Tennessee

	
24.
	
BHC Mesilla Valley Hospital, LLC
	
Delaware

	
25.
	
BHC Montevista Hospital, Inc.
	
Nevada

	
26.
	
BHC Northwest Psychiatric Hospital, LLC
	
Delaware

	
27.
	
BHC Pinnacle Pointe Hospital, LLC
	
Tennessee

	
28.
	
BHC Properties, LLC
	
Tennessee

	
29.
	
BHC Sierra Vista Hospital, Inc.
	
Tennessee

	
30.
	
BHC Streamwood Hospital, Inc.
	
Tennessee

	
31.
	
Brentwood Acquisition, Inc.
	
Tennessee

	
32.
	
Brentwood Acquisition-Shreveport, Inc.
	
Delaware

	
33.
	
Brynn Marr Hospital, Inc.
	
North Carolina

	
34.
	
Calvary Center, Inc.
	
Delaware

	
35.
	
Canyon Ridge Hospital, Inc.
	
California

	
36.
	
CAT Realty, LLC
	
Delaware

	
37.
	
CAT Seattle, LLC
	
Delaware

	
38.
	
CCS/Lansing, Inc.
	
Michigan

 

 

	
39.
	
Cedar Springs Hospital, Inc.
	
Delaware

	
40.
	
Children’s Comprehensive Services, Inc.
	
Tennessee

	
41.
	
Columbus Hospital Partners, LLC
	
Tennessee

	
42.
	
Coral Shores Behavioral Health, LLC
	
Delaware

	
 
	
 
	
 

	
43.
	
Cumberland Hospital, LLC
	
Virginia

	
44.
	
Cumberland Hospital Partners, LLC
	
Delaware

	
45.
	
Del Amo Hospital, Inc.
	
California

	
46.
	
DHP 2131 K St, LLC
	
Delaware

	
47.
	
Diamond Grove Center, LLC
	
Delaware

	
48.
	
DVH Hospital Alliance LLC
	
Delaware

	
49.
	
Emerald Coast Behavioral Hospital, LLC
	
Delaware

	
50.
	
First Hospital Corporation of Virginia Beach
	
Virginia

	
51.
	
Fort Duncan Medical Center, L.P.
	
Delaware

	
52.
	
Fort Lauderdale Hospital, Inc.
	
Florida

	
53.
	
FRN, Inc.
	
Delaware

	
54.
	
Frontline Behavioral Health, Inc.
	
Delaware

	
55.
	
Frontline Hospital, LLC
	
Delaware

	
56.
	
Frontline Residential Treatment Center, LLC
	
Delaware

	
57.
	
Garfield Park Hospital, LLC
	
Illinois

	
58.
	
Great Plains Hospital, Inc.
	
Missouri

	
59.
	
Gulf Coast Treatment Center, Inc.
	
Florida

	
60.
	
Gulph Mills Associates, LLC
	
Pennsylvania

	
61.
	
H.C. Corporation
	
Alabama

	
62.
	
H.C. Partnership
	
Alabama

	
63.
	
Harbor Point Behavioral Health Center, Inc.
	
Virginia

	
64.
	
Havenwyck Hospital Inc.
	
Michigan

	
65.
	
HHC Augusta, Inc.
	
Georgia

	
66.
	
HHC Delaware, Inc.
	
Delaware

	
67.
	
HHC Indiana, Inc.
	
Indiana

	
68.
	
HHC Ohio, Inc.
	
Ohio

	
69.
	
HHC Pennsylvania, LLC
	
Delaware

	
70.
	
HHC Poplar Springs, LLC
	
Virginia

	
71.
	
HHC River Park, Inc.
	
West Virginia

	
72.
	
HHC South Carolina, Inc.
	
South Carolina

	
73.
	
HHC St. Simons, Inc.
	
Georgia

	
74.
	
Hickory Trail Hospital, L.P.
	
Delaware

	
75.
	
Holly Hill Hospital, LLC
	
Tennessee

	
76.
	
Horizon Health Austin, Inc.
	
Texas

	
77.
	
Horizon Health Corporation
	
Delaware

	
78.
	
Horizon Health Hospital Services, LLC
	
Delaware

	
79.
	
Horizon Mental Health Management, LLC
	
Texas

	
80.
	
HSA Hill Crest Corporation
	
Alabama

	
81.
	
Hughes Center, LLC
	
Virginia

 

 

	
82.
	
Independence Physician Management, LLC
	
Delaware

	
83.
	
Keys Group Holdings LLC
	
Delaware

	
84.
	
Keystone/CCS Partners LLC
	
Delaware

	
85.
	
Keystone Continuum LLC
	
Tennessee

	
86.
	
Keystone Education and Youth Services, LLC
	
Tennessee

	
87.
	
Keystone Marion, LLC
	
Virginia

	
88.
	
Keystone Memphis, LLC
	
Tennessee

	
89.
	
Keystone Newport News, LLC
	
Virginia

	
90.
	
Keystone NPS LLC
	
California

	
91.
	
Keystone Richland Center LLC
	
Ohio

	
92.
	
Keystone WSNC, L.L.C.
	
North Carolina

	
93.
	
Kids Behavioral Health of Utah, Inc.
	
Utah

	
94.
	
Kingwood Pines Hospital, LLC
	
Texas

	
95.
	
KMI Acquisition, LLC
	
Delaware

	
96.
	
La Amistad Residential Treatment Center, LLC
	
Florida

	
97.
	
Lancaster Hospital Corporation
	
California

	
98.
	
Laurel Oaks Behavioral Health Center, Inc.
	
Delaware

	
99.
	
Lebanon Hospital Partners, LLC
	
Tennessee

	
100.
	
Liberty Point Behavioral Healthcare, LLC
	
Delaware

	
101.
	
Manatee Memorial Hospital, L.P.
	
Delaware

	
102.
	
Mayhill Behavioral Health, LLC
	
Texas

	
103.
	
McAllen Hospitals, L.P.
	
Delaware

	
104.
	
McAllen Medical Center, Inc.
	
Delaware

	
105.
	
Merion Building Management, Inc.
	
Delaware

	
106.
	
Meridell Achievement Center, Inc.
	
Texas

	
107.
	
Michigan Psychiatric Services, Inc.
	
Michigan

	
108.
	
Millwood Hospital, L.P.
	
Texas

	
109.
	
Milwaukee Behavioral Health, LLC
	
Wisconsin

	
110.
	
Neuro Institute of Austin, L.P.
	
Texas

	
111.
	
North Spring Behavioral Healthcare, Inc.
	
Tennessee

	
112.
	
Northern Indiana Partners, LLC
	
Tennessee

	
113.
	
Northwest Texas Healthcare System, Inc.
	
Texas

	
114.
	
Oak Plains Academy of Tennessee, Inc.
	
Tennessee

	
115.
	
Ocala Behavioral Health, LLC
	
Delaware

	
116.
	
Palm Point Behavioral Health, LLC
	
Florida

	
117.
	
Palmetto Behavioral Health Holdings, LLC
	
Delaware

	
118.
	
Palmetto Behavioral Health System, L.L.C.
	
South Carolina

	
119.
	
Palmetto Lowcountry Behavioral Health, LLC
	
South Carolina

	
120.
	
Park Healthcare Company
	
Tennessee

	
121.
	
Pendleton Methodist Hospital, L.L.C.
	
Delaware

	
122.
	
Pennsylvania Clinical Schools, Inc.
	
Pennsylvania

	
123.
	
Premier Behavioral Solutions, Inc.
	
Delaware

	
124.
	
Premier Behavioral Solutions of Florida, Inc.
	
Delaware

	
125.
	
PSJ Acquisition, LLC
	
North Dakota

 

 

	
126.
	
Psychiatric Realty, LLC
	
Delaware

	
127.
	
Psychiatric Solutions, Inc.
	
Delaware

	
128.
	
Psychiatric Solutions Hospitals, LLC
	
Delaware

	
129.
	
Psychiatric Solutions of Virginia, Inc.
	
Tennessee

	
130.
	
Ramsay Managed Care, LLC
	
Delaware

	
131.
	
Ramsay Youth Services of Georgia, Inc.
	
Delaware

	
132.
	
River Oaks, Inc.
	
Louisiana

	
133.
	
Riveredge Hospital Holdings, Inc.
	
Delaware

	
134.
	
Rolling Hills Hospital, LLC
	
Tennessee

	
135.
	
RR Recovery, LLC
	
Delaware

	
136.
	
Salt Lake Behavioral Health, LLC
	
Delaware

	
137.
	
Salt Lake Psychiatric Realty, LLC
	
Delaware

	
138.
	
Samson Properties, LLC
	
Florida

	
139.
	
Schick Shadel of Florida, LLC
	
Florida

	
140.
	
Shadow Mountain Behavioral Health System, LLC
	
Delaware

	
141.
	
SHC-KHP, LP
	
Texas

	
142.
	
Southeastern Hospital Corporation
	
Tennessee

	
143.
	
SP Behavioral, LLC
	
Florida

	
144.
	
Sparks Family Hospital, Inc.
	
Nevada

	
145.
	
Springfield Hospital, Inc.
	
Delaware

	
146.
	
Stonington Behavioral Health, Inc.
	
Delaware

	
147.
	
Summit Oaks Hospital, Inc.
	
New Jersey

	
148.
	
Sunstone Behavioral Health, LLC
	
Tennessee

	
149.
	
TBD Acquisition, LLC
	
Delaware

	
150.
	
TBD Acquisition II, LLC
	
Delaware

	
151.
	
TBJ Behavioral Center, LLC
	
Delaware

	
152.
	
Temecula Valley Hospital, Inc.
	
California

	
153.
	
Temple Behavioral Healthcare Hospital, Inc.
	
Texas

	
154.
	
Tennessee Clinical Schools, LLC
	
Tennessee

	
155.
	
Texas Cypress Creek Hospital, L.P.
	
Texas

	
156.
	
Texas Hospital Holdings, Inc.
	
Delaware

	
157.
	
Texas Laurel Ridge Hospital, L.P.
	
Texas

	
158.
	
Texas Oaks Psychiatric Hospital, L.P.
	
Texas

	
159.
	
Texas San Marcos Treatment Center, L.P.
	
Texas

	
160.
	
Texas West Oaks Hospital, L.P.
	
Texas

	
161.
	
The Arbour, Inc.
	
Massachusetts

	
162.
	
The Bridgeway, LLC
	
Arkansas

	
163.
	
The National Deaf Academy, LLC
	
Florida

	
164.
	
Three Rivers Behavioral Health, LLC
	
South Carolina

	
165.
	
Three Rivers Healthcare Group, LLC
	
South Carolina

	
166.
	
Toledo Holding Co., LLC
	
Delaware

	
167.
	
Turning Point Care Center, LLC
	
Georgia

	
168.
	
Two Rivers Psychiatric Hospital, Inc.
	
Delaware

	
169.
	
UBH of Oregon, LLC
	
Delaware

 

 

	
170.
	
UBH of Phoenix, LLC
	
Delaware

	
171.
	
UBH of Phoenix Realty, LLC
	
Delaware

	
172.
	
UHP LP
	
Delaware

	
173.
	
UHS Children Services, Inc.
	
Delaware

	
174.
	
UHS Funding, LLC
	
Delaware

	
175.
	
UHS Holding Company, Inc.
	
Nevada

	
176.
	
UHS Kentucky Holdings, L.L.C.
	
Delaware

	
177.
	
UHS of Anchor, L.P.
	
Delaware

	
178.
	
UHS of Benton, LLC
	
Delaware

	
179.
	
UHS of Bowling Green, LLC
	
Delaware

	
180.
	
UHS of Centennial Peaks, L.L.C.
	
Delaware

	
181.
	
UHS of Cornerstone, Inc.
	
Delaware

	
182.
	
UHS of Cornerstone Holdings, Inc.
	
Delaware

	
183.
	
UHS of D.C., Inc.
	
Delaware

	
184.
	
UHS of Delaware, Inc.
	
Delaware

	
185.
	
UHS of Denver, Inc.
	
Delaware

	
186.
	
UHS of Dover, L.L.C.
	
Delaware

	
187.
	
UHS of Doylestown, L.L.C.
	
Delaware

	
188.
	
UHS of Fairmount, Inc.
	
Delaware

	
189.
	
UHS of Fuller, Inc.
	
Massachusetts

	
190.
	
UHS of Georgia, Inc.
	
Delaware

	
191.
	
UHS of Georgia Holdings, Inc.
	
Delaware

	
192.
	
UHS of Greenville, LLC
	
Delaware

	
193.
	
UHS of Hampton, Inc.
	
New Jersey

	
194.
	
UHS of Hartgrove, Inc.
	
Illinois

	
195.
	
UHS of Lakeside, LLC
	
Delaware

	
196.
	
UHS of Lancaster, LLC
	
Pennsylvania

	
197.
	
UHS of Laurel Heights, L.P.
	
Delaware

	
198.
	
UHS of Madera, Inc.
	
Delaware

	
199.
	
UHS of New Orleans, LLC
	
Louisiana

	
200.
	
UHS of Oklahoma, LLC
	
Oklahoma

	
201.
	
UHS of Parkwood, Inc.
	
Delaware

	
202.
	
UHS of Peachford, L.P.
	
Delaware

	
203.
	
UHS of Pennsylvania, Inc.
	
Pennsylvania

	
204.
	
UHS of Phoenix, LLC
	
Delaware

	
205.
	
UHS of Provo Canyon, Inc.
	
Delaware

	
206.
	
UHS of Puerto Rico, Inc.
	
Delaware

	
207.
	
UHS of Ridge, LLC
	
Delaware

	
208.
	
UHS of River Parishes, Inc.
	
Louisiana

	
209.
	
UHS of Rockford, LLC
	
Delaware

	
210.
	
UHS of Salt Lake City, L.L.C
	
Delaware

	
211.
	
UHS of Savannah, L.L.C.
	
Delaware

	
212.
	
UHS of Spring Mountain, Inc.
	
Delaware

	
213.
	
UHS of Springwoods, L.L.C.
	
Delaware

 

 

	
214.
	
UHS of SummitRidge, L.L.C.
	
Delaware

	
215.
	
UHS of Texoma, Inc.
	
Delaware

	
216.
	
UHS of Timberlawn, Inc.
	
Texas

	
217.
	
UHS of Timpanogos, Inc.
	
Delaware

	
218.
	
UHS of Tucson, LLC
	
Delaware

	
219.
	
UHS of Westwood Pembroke, Inc.
	
Massachusetts

	
220.
	
UHS of Wyoming, Inc.
	
Delaware

	
221.
	
UHS Oklahoma City, LLC
	
Oklahoma

	
222.
	
UHS Sahara, Inc.
	
Delaware

	
223.
	
UHS Sub III, LLC
	
Delaware

	
224.
	
UHS-Corona, Inc.
	
Delaware

	
225.
	
UHSL, L.L.C.
	
Nevada

	
226.
	
UHSD, L.L.C.
	
Nevada

	
227.
	
United HealthCare of Hardin, Inc.
	
Tennessee

	
228.
	
University Behavioral, LLC
	
Florida

	
229.
	
Universal Health Services of Palmdale, Inc.
	
Delaware

	
230.
	
Universal Health Services of Rancho Springs, Inc.
	
California

	
231.
	
University Behavioral Health of El Paso, LLC
	
Delaware

	
232.
	
Valle Vista, LLC
	
Delaware

	
233.
	
Valle Vista Hospital Partners, LLC
	
Tennessee

	
234.
	
Valley Health System LLC
	
Delaware

	
235.
	
Valley Hospital Medical Center, Inc.
	
Nevada

	
236.
	
Wekiva Springs Center, LLC
	
Delaware

	
237.
	
Wellington Regional Medical Center, LLC
	
Florida

	
238.
	
Wellstone Regional Hospital Acquisition, LLC
	
Indiana

	
239.
	
Willow Springs, LLC
	
Delaware

	
240.
	
Windmoor Healthcare Inc.
	
Florida

	
241.
	
Windmoor Healthcare of Pinellas Park, Inc.
	
Delaware

	
242.
	
Wisconsin Avenue Psychiatric Center, Inc.
	
Delaware

	
243.
	
Zeus Endeavors, LLC
	
Florida

 

 

 

 

 

 

 

Confirmed and accepted as of the date first above written: 

J.P. MORGAN SECURITIES LLC

For itself and on behalf of the
several Initial Purchasers

By____/s/ Som Bhattacharyya_____

Name:Som Bhattacharyya

Title:Executive Director

 [Signature Page to Registration Rights Agreement]

 

BOFA SECURITIES, INC.

For itself and on behalf of the
several Initial Purchasers

By____/s/ Douglas Muller_____

Name:Douglas Muller

Title:Managing Director

 [Signature Page to Registration Rights Agreement]

 

GOLDMAN SACHS & CO. LLC

For itself and on behalf of the
several Initial Purchasers

By_____/s/ Shakhi Majumdar________

Name:Shakhi Majumdar

Title:Vice President

 

 

 [Signature Page to Registration Rights Agreement]

 

Annex A

Counterpart to Registration Rights Agreement

The undersigned hereby absolutely, unconditionally and irrevocably agrees as a Guarantor (as defined in the Registration Rights Agreement, dated September 21, 2020 by and among Universal Health Services, Inc., a Delaware corporation, the guarantors party thereto and J.P. Morgan Securities LLC, BofA Securities, Inc. and Goldman Sachs & Co. LLC, each on behalf of itself and the other Initial Purchasers) to be bound by the terms and provisions of such Registration Rights Agreement.

IN WITNESS WHEREOF, the undersigned has executed this counterpart as of _______________, 202_.

[GUARANTOR]

By___________________________
Name:
Title:EX-4.2

 Exhibit 4.2 

Execution Version 

 
  

 
 W. R. BERKLEY CORPORATION 

TO 
 THE BANK OF NEW YORK MELLON,
Trustee 
  
  

THIRD SUPPLEMENTAL INDENTURE TO 

SUBORDINATED INDENTURE DATED MARCH 26, 2018 

(SUBORDINATED DEBT SECURITIES) 

Dated as of September 21, 2020 
  

 
 4.25%
Subordinated Debentures due 2060 
  
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I
	 	 APPLICATION OF THIRD SUPPLEMENTAL INDENTURE; DEFINITIONS
	  	 	1	 
			
	 Section 1.1
	 	 APPLICATION OF THIRD SUPPLEMENTAL INDENTURE
	  	 	1	 
	 Section 1.2
	 	 DEFINITIONS
	  	 	2	 
			
	 ARTICLE II
	 	 THE SERIES OF DEBENTURES
	  	 	4	 
			
	 Section 2.1
	 	 TITLE
	  	 	4	 
	 Section 2.2
	 	 GLOBAL FORM
	  	 	4	 
	 Section 2.3
	 	 LIMITATION ON AGGREGATE PRINCIPAL AMOUNT
	  	 	4	 
	 Section 2.4
	 	 REGISTRAR, PAYING AGENT AND PLACE OF PAYMENT
	  	 	5	 
	 Section 2.5
	 	 PRINCIPAL PAYMENT DATE
	  	 	5	 
	 Section 2.6
	 	 INTEREST AND INTEREST RATES
	  	 	5	 
	 Section 2.7
	 	 SINKING FUND
	  	 	5	 
	 Section 2.8
	 	 OPTION TO DEFER INTEREST PAYMENTS
	  	 	5	 
	 Section 2.9
	 	 REDEMPTION AT THE OPTION OF THE COMPANY
	  	 	6	 
	 Section 2.10
	 	 PAYMENT RESTRICTIONS DURING A DEFERRAL PERIOD
	  	 	7	 
	 Section 2.11
	 	 EVENTS OF DEFAULT
	  	 	8	 
	 Section 2.12
	 	 TAX TREATMENT
	  	 	9	 
	 Section 2.13
	 	 DEFEASANCE AND COVENANT DEFEASANCE
	  	 	9	 
	 Section 2.14
	 	 DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS
	  	 	9	 
	 Section 2.15
	 	 ADDITIONAL AMOUNTS
	  	 	9	 
			
	 ARTICLE III
	 	 SUBORDINATION
	  	 	11	 
			
	 Section 3.1
	 	 AGREEMENT TO SUBORDINATE
	  	 	11	 
	 Section 3.2
	 	 DEFAULT ON SENIOR INDEBTEDNESS
	  	 	11	 
	 Section 3.3
	 	 PRIOR PAYMENT TO SENIOR INDEBTEDNESS UPON ACCELERATION OF DEBENTURES
	  	 	12	 
	 Section 3.4
	 	 LIQUIDATION; DISSOLUTION; BANKRUPTCY
	  	 	12	 
	 Section 3.5
	 	 SUBROGATION
	  	 	14	 
	 Section 3.6
	 	 TRUSTEE TO EFFECTUATE SUBORDINATION
	  	 	14	 
	 Section 3.7
	 	 NOTICE BY THE COMPANY
	  	 	14	 
	 Section 3.8
	 	 RIGHTS OF THE TRUSTEE; HOLDERS OF SENIOR INDEBTEDNESS
	  	 	15	 
	 Section 3.9
	 	 SUBORDINATION MAY NOT BE IMPAIRED
	  	 	16	 
	 Section 3.10
	 	 ARTICLE APPLICABLE TO PAYING AGENTS
	  	 	16	 
	 Section 3.11
	 	 RANKING RELATIVE TO 2053, 2056, 2058 AND 2059 DEBENTURES
	  	 	17	 

  
 i 

							
	 ARTICLE IV
	 	 MISCELLANEOUS PROVISIONS
	  	 	17	 
			
	 Section 4.1
	 	 TRUSTEE NOT RESPONSIBLE FOR RECITALS
	  	 	17	 
	 Section 4.2
	 	 PAYMENT OF EXPENSES UPON RESIGNATION OR REMOVAL
	  	 	17	 
	 Section 4.3
	 	 ADOPTION, RATIFICATION AND CONFIRMATION
	  	 	17	 
	 Section 4.4
	 	 COUNTERPARTS; ELECTRONIC SIGNATURES
	  	 	17	 
	 Section 4.5
	 	 GOVERNING LAW
	  	 	17	 

  
 ii 

 W. R. BERKLEY CORPORATION 

THIRD SUPPLEMENTAL INDENTURE TO SUBORDINATED INDENTURE DATED 

MARCH 26, 2018 (SUBORDINATED DEBT SECURITIES) 

$250,000,000 
 4.25% Subordinated
Debentures due 2060 
 THIRD SUPPLEMENTAL INDENTURE, dated as of September 21, 2020, between W. R. BERKLEY CORPORATION, a Delaware
corporation (the “Company”), and THE BANK OF NEW YORK MELLON, a New York banking corporation, as Trustee (the “Trustee”). 

RECITALS 
 The Company has
heretofore executed and delivered to the Trustee an indenture for subordinated debt securities, dated as of March 26, 2018 (the “Base Indenture”), providing for the issuance from time to time of series of the Company’s
Securities. 
 Section 3.1 of the Base Indenture provides for various matters with respect to any series of Securities issued under the
Indenture to be established in an indenture supplemental to the Indenture. 
 Section 9.1(4) of the Base Indenture provides for the
Company and the Trustee to enter into an indenture supplemental to the Indenture to establish the form or terms of Securities of any series as provided by Sections 2.1 and 3.1 of the Base Indenture. 

The Company desires to execute this third supplemental indenture (this “Third Supplemental Indenture”) pursuant to
Section 2.1 of the Base Indenture to establish the form, and pursuant to Section 3.1 of the Base Indenture to provide for the issuance, of a series of its subordinated debt securities designated as its 4.25% Subordinated Debentures due
2060 (the “Debentures”), in an initial aggregate principal amount of $250,000,000. The Debentures are a series of the Company’s Securities as referred to in Section 3.1 of the Base Indenture. 

All acts and requirements necessary to make this Third Supplemental Indenture a legal, valid and binding obligation of the Company have been
done. 
 NOW, THEREFORE, THIS THIRD SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the issuance of the series of Securities provided for herein, it is mutually agreed, for the
equal and proportionate benefit of all Holders of the Securities of such series, as follows: 
 ARTICLE I 

APPLICATION OF THIRD SUPPLEMENTAL INDENTURE; DEFINITIONS 

Section 1.1    APPLICATION OF THIRD SUPPLEMENTAL INDENTURE. Notwithstanding any other provision of this Third
Supplemental Indenture, all provisions of this 

  
 1 

 
Third Supplemental Indenture are expressly and solely for the benefit of the Holders of the Debentures and any such provisions shall not be deemed to apply to any other Securities issued under
the Base Indenture and shall not be deemed to amend, modify or supplement the Base Indenture for any purpose other than with respect to the Debentures. Unless otherwise expressly specified, references in this Third Supplemental Indenture to specific
Article numbers or Section numbers refer to Articles and Sections contained in this Third Supplemental Indenture as they amend or supplement the Base Indenture, and not the Base Indenture or any other document. 

Section 1.2    DEFINITIONS. For purposes of this Third Supplemental Indenture, all capitalized terms used but not
defined herein shall have the meanings ascribed to such terms in the Base Indenture, as amended hereby. 
 For the benefit of the Holders of
the Debentures, Section 1.1 of the Base Indenture shall be amended by adding the following new definitions: 
 “Base
Indenture” has the meaning specified in the recitals hereto. 
 “Debentures” has the meaning specified in the
recitals hereto. 
 “Depository” has the meaning specified in Section 2.2. 

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

“Global Debenture” has the meaning specified in Section 2.2. 

“Indebtedness for Money Borrowed” shall mean (a) any obligation of, or any obligation guaranteed by, the Company for
which the Company is responsible or liable as obligor or otherwise including principal, premium and interest (whether accruing before or after filing of any petition in bankruptcy or any similar proceedings by or against the Company and whether or
not allowed as a claim in bankruptcy or similar proceedings) for (i) indebtedness for money borrowed, (ii) indebtedness evidenced by securities, bonds, debentures, notes or other similar written instruments, (iii) any deferred
obligation for the payment of the purchase price or conditional sale obligation of property or assets acquired other than in the ordinary course of business, (iv) all obligations for the reimbursement of any letter of credit, banker’s
acceptance, security purchase facility or similar credit transaction, (v) all obligations under “keep-well” agreements required by insurance regulators or (vi) any obligation referred to in (i) through (v) above of
other Persons secured by any lien on any property or asset of the Company and (b) all indebtedness for obligations to make payment in respect of derivative products such as interest and foreign exchange rate contracts, commodity contracts
(including future or options contracts), swap agreements, cap agreements, repurchase and reverse repurchase agreements and similar arrangements, whether outstanding on September 21, 2020 or thereafter created, assumed or incurred. 

“Indebtedness Ranking Junior to the Debentures” shall mean any Indebtedness for Money Borrowed, whether outstanding on
September 21, 2020 or thereafter created, assumed or incurred, which specifically by its terms ranks junior to and not equally with or prior to the Debentures (and any Indebtedness Ranking on a Parity with the Debentures) in right of payment
upon any dissolution, winding-up, liquidation, reorganization, or similar events of the Company. 

  
 2 

 
The securing of any Indebtedness for Money Borrowed, otherwise constituting Indebtedness Ranking Junior to the Debentures, shall not be deemed to prevent such Indebtedness for Money Borrowed from
constituting Indebtedness Ranking Junior to the Debentures. 
 “Indebtedness Ranking on a Parity with the Debentures” shall
mean (a) the outstanding 5.625% Subordinated Debentures due 2053 issued by the Company, (b) the outstanding 5.900% Subordinated Debentures due 2056 issued by the Company, (c) the outstanding 5.75% Subordinated Debentures due 2056
issued by the Company, (d) the outstanding 5.70% Subordinated Debentures due 2058 issued by the Company, (e) the outstanding 5.10% Subordinated Debentures due 2059 issued by the Company and (f) Indebtedness for Money Borrowed, whether
outstanding on September 21, 2020 or thereafter created, assumed or incurred, which specifically by its terms ranks equally with and not prior to the Debentures in right of payment upon dissolution,
winding-up, liquidation, reorganization, or similar events of the Company. The securing of any Indebtedness for Money Borrowed, otherwise constituting Indebtedness Ranking on a Parity with the Debentures,
shall not be deemed to prevent such Indebtedness for Money Borrowed from constituting Indebtedness Ranking on a Parity with the Debentures. 

“interest,” when used with respect to the Debentures, includes interest accruing on the Debentures, interest on deferred
interest payments and other unpaid amounts and compounded interest, as applicable and in each case to the extent permitted by applicable law. 

“Interest Payment Date” means each March 30, June 30, September 30 and December 30, beginning
December 30, 2020. 
 “Junior Subordinated Payment” has the meaning specified in Section 3.4. 

“Optional Deferral Period” means the period commencing on an Interest Payment Date with respect to which the Company defers
interest pursuant to Section 2.8 and ending on the earlier of (i) the fifth anniversary of that Interest Payment Date and (ii) the next Interest Payment Date on which the Company has paid all deferred and unpaid amounts (including
compounded interest on such deferred amounts) and all other accrued interest on the Debentures. 
 “Proceeding” has the
meaning specified in Section 3.4. 
 “Rating Agency Event” means that any nationally recognized statistical rating
organization within the meaning of Section 3(a)(62) under the Exchange Act that then publishes a rating for the Company (a “rating agency”) amends, clarifies or changes the criteria it uses to assign equity credit to securities
such as the Debentures, which amendment, clarification or change results in (a) the shortening of the length of time the Debentures are assigned a particular level of equity credit by that rating agency as compared to the length of time the
Debentures would have been assigned that level of equity credit by that rating agency or its predecessor on the initial issuance of the Debentures; or (b) the lowering of the equity credit (including up to a lesser amount) assigned to the
Debentures by that rating agency compared to the equity credit assigned by that rating agency or its predecessor on the initial issuance of the Debentures. 

“Senior Indebtedness” shall mean all Indebtedness for Money Borrowed, whether outstanding on September 21, 2020 or
thereafter created, assumed or incurred, except Indebtedness Ranking on a Parity with the Debentures or Indebtedness Ranking Junior to the Debentures, and any deferrals, renewals or extension of such Senior Indebtedness. 

  
 3 

 “Tax Event” means that the Company will have received an opinion of
counsel, rendered by a law firm of nationally recognized standing that is experienced in such matters, stating that, as a result of any: 

(a)    amendment to, or change in (including any promulgation, enactment, execution or modification of) the laws (or any
regulations under those laws) of the United States or any political subdivision thereof or therein affecting taxation; 

(b)    official administrative pronouncement (including a private letter ruling, technical advice memorandum or similar
pronouncement) or judicial decision or administrative action or other official pronouncement interpreting or applying the laws or regulations enumerated in clause (a) above, by any court, governmental agency or regulatory authority; or 

(c)    threatened challenge asserted in connection with an audit of the Company, or a threatened challenge asserted in
writing against any taxpayer that has raised capital through the issuance of securities that are substantially similar to the Debentures, 
 which amendment
or change is enacted or effective or which pronouncement or decision is announced or which challenge is asserted against the Company or becomes publicly known on or after September 21, 2020, there is more than an insubstantial increase in the
risk that interest accruable or payable by the Company on the Debentures is not, or will not be, deductible by the Company in whole or in part, for United States federal income tax purposes. 

“Third Supplemental Indenture” has the meaning specified in the recitals hereto. 

ARTICLE II 
 THE SERIES OF
DEBENTURES 
 Section 2.1    TITLE. There shall be a series of Securities designated the “4.25% Subordinated
Debentures due 2060.” 
 Section 2.2    GLOBAL FORM. The Debentures shall be issued initially in the form of fully
registered global Securities (the “Global Debentures”) in substantially the form attached as EXHIBIT A hereto, which shall be deposited on behalf of the purchasers of the Debentures represented thereby with The Depository Trust
Company, New York, New York (the “Depository”) and registered in the name of Cede & Co., the Depositary’s nominee, duly executed by the Company, authenticated by the Trustee. 

Section 2.3    LIMITATION ON AGGREGATE PRINCIPAL AMOUNT. The aggregate principal amount of the Debentures shall
initially be limited to $250,000,000 (except for Debentures authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Debentures of such series pursuant to Section 3.4, Section 3.5,
Section 3.6, Section 9.5 or Section 11.7 of the Base Indenture). The Company may, without notice to or consent of the Holders of the Debentures, issue additional Securities having the same interest rate, maturity date and other terms
as described in the related prospectus supplement and 

  
 4 

 
prospectus; provided, that the additional Securities are fungible with the Debentures for United States federal income tax purposes. Any additional Securities, together with the Debentures
offered by the related prospectus supplement, will constitute a single series of Securities under the Indenture. No additional Securities may be issued if an Event of Default under the Indenture has occurred and is continuing with respect to the
Securities. 
 Section 2.4    REGISTRAR, PAYING AGENT AND PLACE OF PAYMENT. The Company initially appoints the
Trustee as Registrar and Paying Agent for the Debentures and the Corporate Trust Office of the Trustee be and hereby is designated as the Place of Payment where the Debentures may be presented or surrendered for payment, where the Debentures may be
surrendered for registration of transfer or exchange and where notices and demand to or upon the Company in respect of the Debentures and the Indenture. 

Section 2.5    PRINCIPAL PAYMENT DATE. The principal amount of the Debentures outstanding (together with any accrued
and unpaid interest) shall be payable in a single installment on September 30, 2060, which date shall be the Maturity of the Debentures Outstanding. 

Section 2.6    INTEREST AND INTEREST RATES. The rate at which the Debentures shall bear interest shall be 4.25% per
annum; the date from which interest shall accrue on the Debentures shall be September 21, 2020, or the most recent Interest Payment Date to which interest has been paid or provided for; the Interest Payment Dates for the Debentures shall be
March 30, June 30, September 30 and December 30 of each year, beginning December 30, 2020; the interest so payable, and punctually paid or duly provided for, on any Interest Payment Date, will be paid, in immediately
available funds, to the Persons in whose names the Debenture (or predecessor Debenture) is registered (which shall initially be the Depository) at the close of business on the Regular Record Date for such interest, which shall be March 15,
June 15, September 15 and December 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. However, interest paid on the Maturity Date or a Redemption Date will be payable to the Person to
whom the principal will be payable. Interest shall be computed on the basis of a 360 day year comprised of twelve 30-day months. For so long as the Debentures are represented in global form by one or more
Global Securities, all payments of principal (and premium, if any) and interest and Additional Amounts shall be made by wire transfer of immediately available funds to the Depository or its nominee, as the case may be, as the registered owner of the
Global Debenture representing such Debentures. In the event that definitive Debentures shall have been issued, all payments of principal (and premium, if any) and interest and Additional Amounts shall be made by wire transfer of immediately
available funds to the accounts of the registered Holders thereof; provided, that the Company may at its option pay interest by check to the registered address of each Holder of a definitive Debenture. 

Section 2.7    SINKING FUND. The Company has no obligation to redeem or purchase any Debentures pursuant to any
sinking fund or analogous requirement or upon the happening of a specified event or at the option of a Holder thereof. 

Section 2.8    OPTION TO DEFER INTEREST PAYMENTS. (a) So long as no Event of Default with respect to the
Debentures has occurred and is continuing, the Company shall 

  
 5 

 
have the right, at any time and from time to time, to defer the payment of interest on the Debentures for one or more Optional Deferral Periods of up to five consecutive years, provided that no
Optional Deferral Period shall extend beyond September 30, 2060, any earlier accelerated maturity date arising from an Event of Default or any other earlier redemption of the Debentures. 

(b)    During any Optional Deferral Period, interest shall continue to accrue on the Debentures, and deferred interest
payments shall accrue additional interest at the same rate, compounded quarterly as of each Interest Payment Date to the extent permitted by applicable law. No interest otherwise due during an Optional Deferral Period shall be due and payable on the
Debentures until the end of such Optional Deferral Period except upon an acceleration or redemption of the Debentures during such deferral period. 

(c)    At the end of any Optional Deferral Period, the Company shall pay all deferred interest (including compounded
interest thereon) on the Debentures to the Persons in whose names the Debentures are registered at the close of business on the Regular Record Date with respect to the Interest Payment Date at the end of such Optional Deferral Period. 

(d)    At the end of five years following the commencement of any Optional Deferral Period, the Company shall pay all
accrued and unpaid deferred interest, including compounded interest thereon. If, at the end of any Optional Deferral Period, the Company shall have paid all deferred interest due on the Debentures, including compounded interest, the Company may
again defer interest payments on the Debentures pursuant to this Section 2.8. 
 (e)    The Company shall give
written notice of its election to commence or continue any Optional Deferral Period to the Trustee and the Holders of the Debentures at least one Business Day and not more than 60 Business Days before the next Interest Payment Date. 

Section 2.9    REDEMPTION AT THE OPTION OF THE COMPANY. The provisions of Article 11 of the Base Indenture, as
supplemented by the provisions of this Third Supplemental Indenture, shall apply to the Debentures. 
 The Company may redeem the Debentures
in increments of $25 principal amount: 
 (a)    in whole at any time, or in part from time to time, on or after
September 30, 2025, at a Redemption Price equal to their principal amount plus accrued and unpaid interest (including compounded interest, if any) to, but excluding, the Redemption Date; provided that if the Debentures are not redeemed in
whole, at least $25 million aggregate principal amount of the Debentures must remain Outstanding after giving effect to such redemption; 

(b)    in whole, but not in part, at any time prior to September 30, 2025, within 90 days of the occurrence of a
Tax Event, at a Redemption Price equal to their principal amount plus accrued and unpaid interest (including compounded interest, if any) to, but excluding, the Redemption Date; or 

(c)    in whole, but not in part, at any time prior to September 30, 2025, within 90 days of the occurrence of a
Rating Agency Event, at a Redemption Price equal to 102% of their principal amount plus any accrued and unpaid interest (including compounded interest, if any) to but excluding the Redemption Date. 

  
 6 

 Section 2.10    PAYMENT RESTRICTIONS DURING A DEFERRAL PERIOD.
After the commencement of an Optional Deferral Period and until the Company has paid all accrued and unpaid interest on the Debentures, the Company shall not, and shall not permit any Subsidiary to: 

(a)    declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with
respect to, any Capital Stock of the Company, 
 (b)    make any payment of principal, interest or premium on or repay,
repurchase or redeem any Indebtedness Ranking on a Parity with the Debentures or Indebtedness Ranking Junior to the Debentures, or 

(c)    make any guarantee payments with respect to any guarantee by the Company of any securities of any Subsidiary if
such guarantee ranks pari passu with or junior in right of payment to the Debentures; other than: 

(i)    dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of,
Capital Stock of the Company where the dividend stock or stock issuable upon exercise of such options, warrants or other rights is the same stock as that on which the dividend is being paid or ranks equally with or junior to such stock, 

(ii)    any declaration of a dividend in connection with the implementation of a stockholder’s rights plan, or the
issuance of Capital Stock of the Company under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, 

(iii)    as a result of a reclassification of any series or class of Capital Stock of the Company or the exchange or
conversion of one class or series of Capital Stock of the Company for or into another class or series of Capital Stock of the Company, 

(iv)    the purchase of fractional interests in shares of Capital Stock of the Company pursuant to an acquisition or the
conversion or exchange provisions of such Capital Stock or the security being converted or exchanged, 

(v)    purchases or acquisitions of shares of Capital Stock of the Company in connection with any employment contract,
benefit plan or other similar arrangement with or for the benefit of directors, officers, agents, consultants or employees of the Company or satisfaction by the Company of its obligations under any dividend reinvestment plan of the Company or
director, officer, agent, consultant or employee stock purchase plans of the Company, 
 (vi)    any exchange,
redemption or conversion of any class or series of Capital Stock of the Company, or the Capital Stock of a Subsidiary, for any other class or series of Capital Stock of the Company, or of any class or series of Indebtedness for Borrowed Money for
any class or series of Capital Stock of the Company, 

  
 7 

 (vii)    purchases or acquisitions of shares of Capital Stock of the
Company in connection with satisfaction by the Company of its obligations under any contract or security entered into before commencement of the Optional Deferral Period, and 

(viii)     (x) payment of current or deferred interest on Indebtedness Ranking on a Parity with the Debentures made
pro rata to the amounts due on the Debentures and all other Indebtedness Ranking on a Parity with the Debentures and (y) payment of principal or current or deferred interest on the Company’s Indebtedness Ranking on a Parity with the
Debentures that, if not made, would cause the Company to breach the terms of the instrument governing such Indebtedness Ranking on a Parity with the Debentures. 

Section 2.11    EVENTS OF DEFAULT. (a) Clauses (1) through (6) of Section 5.1 and
Section 5.2, in its entirety, of the Base Indenture shall not apply to the Debentures. Clauses (7) and (8) of Section 5.1 of the Base Indenture shall apply to the Debentures. 

(b)    If an Event of Default specified in Clause (7) or (8) of Section 5.1 of the Base Indenture occurs,
the principal amount of all the Debentures shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. 

(c)    The Trustee shall provide to the Holders of the Debentures notice of any Event of Default or default with respect
to the Debentures within 90 days after receipt of a written notice by a Responsible Officer of the Trustee of such Event of Default or default. However, except in the case of a default in payment on the Debentures, the Trustee will be protected
in withholding the notice if one of its Responsible Officers determines that withholding of the notice is in the interest of such Holders. 

(d)    The Trustee shall have no right or obligation under the Indenture or otherwise to exercise any remedies on behalf
of any Holders of the Debentures pursuant to the Indenture in connection with any default, unless such remedies are available under the Indenture and the Trustee is directed to exercise such remedies pursuant to and subject to the conditions of
Section 5.12 of the Base Indenture, provided, however, that this provision shall not affect the rights of the Trustee with respect to any Events of Default as set forth in clause (b) of this Section 2.11 that may occur with respect to
the Debentures. In connection with any such exercise of remedies the Trustee shall be entitled to the same rights, privileges, benefits, indemnities, immunities and protections and remedial rights (other than acceleration) as if such default were an
Event of Default. 
 (e)    For purposes of this Section 2.11, the term “default” means any of the
following events: 
 (i)    default in the payment of interest, including compounded interest, in full on any
Debentures for a period of 30 days after the conclusion of a five-year period following the commencement of any Optional Deferral Period if such Optional Deferral Period has not ended prior to the conclusion of such five-year period; 

(ii)    default in the payment of principal of or premium, if any, on the Debentures when due; or 

  
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 (iii)    default in the observance or performance of any covenant or
agreement contained in the Indenture or the Debentures. 
 Section 2.12    TAX TREATMENT. Each Holder of the
Debentures will, by accepting the Debentures or a beneficial interest therein, be deemed to have agreed that the Holder intends that the Debentures constitute indebtedness and will treat the debentures as indebtedness for all United States federal,
state and local tax purposes. 
 Section 2.13    DEFEASANCE AND COVENANT DEFEASANCE. The Company has elected to
have both Section 4.2(2) (relating to defeasance) and Section 4.2(3) of the Base Indenture (relating to covenant defeasance) applied to the Debentures. 

Section 2.14    DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS. With respect to the Debentures,
clause (3) of Section 15.5 of the Base Indenture will be deleted and will be replaced in its entirety with the following: 

“(3) At any meeting, each Holder of a Security of such series or proxy shall be entitled to one vote for each $25 principal amount of
Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding.
The chairman of the meeting shall have no right to vote, except as a Holder of a Security of such series or proxy.” 

Section 2.15    ADDITIONAL AMOUNTS. With respect to the Debentures, Section 10.4 of the Base Indenture will be
deleted and will be replaced in its entirety with the following, which will be applicable to the Debentures: 
 “All payments of
principal of and premium, if any, interest and any other amounts on, or in respect of, the Securities of any series or any Coupon appertaining thereto shall be made without withholding or deduction at source for, or on account of, any present or
future taxes, fees, duties, assessments or governmental charges of whatever nature imposed or levied by or on behalf of a jurisdiction (a “taxing jurisdiction”) or any political subdivision or taxing authority thereof or therein, unless
such taxes, fees, duties, assessments or governmental charges are required to be withheld or deducted by (i) the laws (or any regulations or ruling promulgated thereunder) of a taxing jurisdiction or any political subdivision or taxing
authority thereof or therein or (ii) an official position regarding the application, administration, interpretation or enforcement of any such laws, regulations or rulings (including, without limitation, a holding by a court of competent
jurisdiction or by a taxing authority in a taxing jurisdiction or any political subdivision thereof). If a withholding or deduction at source is required, the Company shall, subject to certain limitations and exceptions set forth below, pay to the
Holder of any such Security or any Coupon appertaining thereto such Additional Amounts as may be necessary so that every net payment of principal, premium, if any, interest or any other amount made to such Holder, after such withholding or
deduction, shall not be less than the amount provided for in such Security, any Coupons appertaining thereto and this Indenture to be then due and payable; provided, however, that the Company shall not be required to make payment of such Additional
Amounts for or on account of: 

  
 9 

 (1)    any tax, fee, duty, assessment or governmental
charge of whatever nature which would not have been imposed but for the fact that such Holder: (A) was a resident, domiciliary or national of, or engaged in business or maintained a permanent establishment or was physically present in, the
relevant taxing jurisdiction or any political subdivision thereof or otherwise had some connection with the relevant taxing jurisdiction other than by reason of the mere ownership of, or receipt of payment under, such Security; (B) presented
such Security for payment in the relevant taxing jurisdiction or any political subdivision thereof, unless such Security could not have been presented for payment elsewhere; or (C) presented such Security more than thirty (30) days after
the date on which the payment in respect of such Security first became due and payable or provided for, whichever is later, except to the extent that the Holder would have been entitled to such Additional Amounts if it had presented such Security
for payment on any day within such period of thirty (30) days; 
 (2)    any estate, inheritance,
gift, sale, transfer, personal property or similar tax, assessment or other governmental charge; 

(3)    any tax, assessment or other governmental charge that is imposed or withheld by reason of the
failure by the Holder or the beneficial owner of such Security to comply with any reasonable request by the Company addressed to the Holder within 90 days of such request (A) to provide information concerning the nationality, residence or
identity of the Holder or such beneficial owner or (B) to make any declaration or other similar claim or satisfy any information or reporting requirement, which, in the case of (A) or (B), is required or imposed by statute, treaty,
regulation or administrative practice of the relevant taxing jurisdiction or any political subdivision thereof as a precondition to exemption from all or part of such tax, assessment or other governmental charge; or 

(4)    any combination of items (1), (2) and (3); 

nor shall Additional Amounts be paid with respect to any payment of the principal of, or premium, if any, interest or any other amounts on, any such Security
to any Holder who is a fiduciary, partnership, other fiscally transparent entity, or other than the sole beneficial owner of such Security to the extent such payment would be required by the laws of the relevant taxing jurisdiction (or any political
subdivision or relevant taxing authority thereof or therein) to be included in the income for tax purposes of a beneficiary or settlor with respect to such fiduciary, partner, member of such other fiscally transparent entity or a beneficial owner
who would not have been entitled to such Additional Amounts had it been the Holder of the Security. 
 Whenever in this Indenture there is
mentioned, in any context, the payment of the principal of or any premium, interest or any other amounts on, or in respect of, any Security of any series or any Coupon or the net proceeds received on the sale or exchange of any Security of any
series, such mention shall be deemed to include mention of the payment of Additional Amounts provided by the terms of such series established hereby or pursuant hereto to the extent that, in such context, Additional Amounts are, were or would be
payable in respect thereof pursuant to such terms, and express mention of the payment of Additional Amounts (if applicable) in any provision hereof shall not be construed as excluding the payment of Additional Amounts in those provisions hereof
where such express mention is not made. 

  
 10 

 Except as otherwise provided in or pursuant to this Indenture or the Securities of the
applicable series, at least 10 days prior to the first Interest Payment Date with respect to a series of Securities (or if the Securities of such series shall not bear interest prior to Maturity, the first day on which a payment of principal is
made), and at least 10 days prior to each date of payment of principal or interest if there has been any change with respect to the matters set forth in the below-mentioned Officer’s Certificate, the Company shall furnish to the Trustee
and the principal Paying Agent or Paying Agents, if other than the Trustee, an Officer’s Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and premium, if any, interest or any other
amounts on the Securities of such series shall be made to Holders of Securities of such series or the Coupons appertaining thereto without withholding for or on account of any tax, fee, duty, assessment or other governmental charge described in this
Section 10.4. If any such withholding shall be required, then such Officer’s Certificate shall specify by taxing jurisdiction the amount, if any, required to be withheld on such payments to such Holders of Securities or Coupons, and the
Company agrees to pay to the Trustee or such Paying Agent the Additional Amounts required by this Section 10.4. The Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against, any loss, liability or
expense incurred without negligence or bad faith on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officer’s Certificate furnished pursuant to this Section 10.4.” 

ARTICLE III 
 SUBORDINATION 

Section 3.1    AGREEMENT TO SUBORDINATE. With respect to the Debentures, Article 16 of the Base Indenture will
be replaced in its entirety with this Article III. 
 The Company covenants and agrees, and each Holder of Debentures issued under the
Indenture likewise covenants and agrees, that the Debentures shall be issued subject to the provisions of this Article III; and each Holder of a Debenture, whether upon original issue or upon transfer or assignment thereof, accepts and agrees
to be bound by such provisions. 
 The payment by the Company of the principal of, premium, if any, and interest and Additional Amounts on
the Debentures shall, to the extent and in the manner set forth in this Article III, be subordinated and junior in right of payment to the prior payment in full of all Senior Indebtedness, whether outstanding at the date of this Third
Supplemental Indenture or thereafter incurred. 
 No provision of this Article III shall prevent the occurrence of any Event of Default
with respect to the Debentures or any event, act or condition that with notice or lapse of time, or both, would constitute an Event of Default with respect to the Debentures. 

Section 3.2    DEFAULT ON SENIOR INDEBTEDNESS. Unless Section 3.3 shall be applicable, in the event and during
the continuation of any default by the Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness, or in the event that the maturity of any Senior Indebtedness has been or would be permitted upon
notice or the passage of time to be accelerated because of a default, then, unless and until such event of default shall have been cured or waived or shall have ceased to exist and such 

  
 11 

 
acceleration shall have been rescinded or annulled, then no payment or distribution of any kind or character, whether in cash, properties or securities shall be made by the Company with respect
to the principal (including redemption payments) of or premium, if any, or interest or Additional Amounts on the Debentures or on account of the purchase or other acquisition of Debentures by the Company or any Subsidiary, in each case unless and
until all amounts due or to become due on such Senior Indebtedness are paid in full in cash or other consideration satisfactory to the holders of such Senior Indebtedness. 

In the event that, notwithstanding the foregoing, any payment shall be received by the Trustee or a holder of any Debenture when such payment
is prohibited by the preceding paragraph of this Section 3.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of Senior Indebtedness or their respective representatives, or to the
trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent that the holders of the Senior Indebtedness (or their representative or
representatives or a trustee) notify the Trustee in writing, within 90 days of such payment. 

Section 3.3    PRIOR PAYMENT TO SENIOR INDEBTEDNESS UPON ACCELERATION OF DEBENTURES. In the event that any Debentures
are declared due and payable before their Stated Maturity, then no payment or distribution of any kind or character, whether in cash, properties or securities shall be made by the Company on account of the principal (including redemption payments)
of, or premium, if any, or interest or Additional Amounts on the Debentures or on account of the purchase or other acquisition of Debentures by the Company or any Subsidiary, until all amounts due on or in respect of Senior Indebtedness outstanding
at the time of such acceleration shall have been paid in full to the holders of such Senior Indebtedness in cash or other consideration satisfactory to the holders of such Senior Indebtedness, or provision shall have been made for such payment. 

In the event that, notwithstanding the foregoing, any payment shall be received by the Trustee or the Holder of any Debenture prohibited by
the foregoing provisions of this Section 3.3, such payment shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees
under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a
trustee) notify the Trustee in writing, within 90 days of such payment. 
 The provisions of this Section 3.3 shall not apply to
any payment with respect to which Section 3.4 would be applicable. 
 Section 3.4    LIQUIDATION; DISSOLUTION;
BANKRUPTCY. In the case of the pendency of any receivership, insolvency, dissolution, winding-up, liquidation, reorganization, assignment for the benefit of creditors or any other marshaling of assets or
liabilities of the Company or other similar judicial proceeding relative to the Company, whether voluntary or involuntary or in bankruptcy, insolvency, receivership or other proceedings (each such event, if any herein sometimes referred to as a
“Proceeding”), then the holders of Senior Indebtedness shall be entitled to receive payment in full of all amounts due or to become due on such Senior 

  
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Indebtedness, or provision shall be made for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Indebtedness, before the Holders of the
Debentures are entitled to receive or retain any payment or distribution of any kind or character, whether in cash, property or securities (including any payment or distribution which may be payable or deliverable by reason of the payment of any
other debt of the Company subordinated to the payment of the Debentures, such payment or distribution being hereinafter referred to as a “Junior Subordinated Payment”), on account of principal of (or premium, if any) or interest or
Additional Amounts on the Debentures or on account of the purchase or other acquisition of Debentures by the Company or any Subsidiary, and to that end the holders of Senior Indebtedness shall be entitled to receive, for application to the payment
thereof, any payment or distribution of any kind or character, whether in cash, property or securities, including any Junior Subordinated Payment, which may be payable or deliverable in respect of the Debentures in any such Proceeding. 

In the event that, notwithstanding the foregoing provisions of this Section 3.4, the Trustee or the Holders of any Debenture shall have
received any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, including any Junior Subordinated Payment, before all amounts due or to become due on all Senior Indebtedness are paid
in full or payment thereof is provided for in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Indebtedness, and if such fact shall, at or prior to the time of such payment or distribution, have been made
actually known to a Responsible Officer of the Trustee or, as the case may be, such Holder, then in such event such payment or distribution shall be paid over or delivered forthwith to the trustee in bankruptcy, receiver, liquidating trustee,
custodian, assignee, agent or other Person making payment or distribution of assets of the Company for application to the payment of all amounts due or to become due on all Senior Indebtedness remaining unpaid, to the extent necessary to pay all
amounts due or to become due on all Senior Indebtedness in full, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness. 

For purposes of this Article III, the words “cash, property or securities” shall not be deemed (so long as the effect of any
exclusion employing this definition is not to cause the Debentures to be treated in any Proceeding as a part of the same class of claims as the Senior Indebtedness or any class of claims pari passu with, or senior to the Senior Indebtedness) to
include shares of stock of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment, the payment of which is subordinated at least to the extent provided
in this Article III with respect to the Debentures to the payment of Senior Indebtedness that may at the time be outstanding, provided that (i) such Senior Indebtedness is assumed by the new corporation, if any, resulting from any such
reorganization or readjustment, and (ii) the rights of the holders of such Senior Indebtedness are not, without the consent of such holders, altered by such reorganization or readjustment. The consolidation of the Company with, or the merger of
the Company into, another Person or the liquidation or dissolution of the Company following the sale, conveyance, transfer or lease of its property as an entirety, or substantially as an entirety, to another Person upon the terms and conditions
provided for in Article 8 of the Base Indenture shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section 3.4 if such other Person shall, as a part
of such consolidation, merger, sale, conveyance, transfer or lease, comply with the conditions stated in Article 8 of the Base Indenture. 

  
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 Section 3.5    SUBROGATION. Subject to the payment in full of all
amounts due or to become due on all Senior Indebtedness to the extent provided herein or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Indebtedness, the rights of the
Holders of the Debentures shall be subrogated to the rights of the holders of such Senior Indebtedness to receive payments or distributions made to the holders of such Senior Indebtedness pursuant to the provisions of this Article III (equally
and ratably with the holders of all Indebtedness of the Company which by its express terms is subordinated to Senior Indebtedness of the Company to substantially the same extent as the Debentures are subordinated to the Senior Indebtedness and is
entitled to like rights of subrogation by reason of payments or distributions made to holders of such Senior Indebtedness) and to the rights of the holders of such Senior Indebtedness to receive payments and distributions of cash, property or
securities of the Company, as the case may be, applicable to such Senior Indebtedness until the principal of (and premium, if any) and interest and Additional Amounts on the Debentures shall be paid in full; and, for the purposes of such
subrogation, no payments or distributions to the holders of such Senior Indebtedness of any cash, property or securities to which the Holders of the Debentures or the Trustee would be entitled except for the provisions of this Article III, and
no payment over pursuant to the provisions of this Article III to or for the benefit of the holders of such Senior Indebtedness by Holders of the Debentures or the Trustee, shall, as between the Company, its creditors other than holders of
Senior Indebtedness of the Company, and the Holders of the Debentures, be deemed to be a payment by the Company to or on account of such Senior Indebtedness. It is understood that the provisions of this Article III are and are intended solely
for the purposes of defining the relative rights of the Holders of the Debentures, on the one hand, and the holders of such Senior Indebtedness on the other hand. 

Nothing contained in this Article III or elsewhere in this Third Supplemental Indenture or in the Debentures is intended to or shall
impair, as between the Company, its creditors other than the holders of Senior Indebtedness of the Company, and the Holders of the Debentures, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the
Debentures the principal of (and premium, if any) and interest and Additional Amounts on the Debentures 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 Debentures and creditors of the Company, as the case may be, other than the holders of Senior Indebtedness of the Company, as the case may be, nor shall anything herein or therein prevent the Trustee or the holder of any Debenture
from exercising all remedies otherwise permitted by applicable law upon default under the Indenture, subject to the rights, if any, under this Article III of the holders of such Senior Indebtedness in respect of cash, property or securities of
the Company, as the case may be, received upon the exercise of any such remedy. 
 Section 3.6    TRUSTEE TO
EFFECTUATE SUBORDINATION. Each Holder of the Debentures by such Holder’s acceptance thereof authorizes and directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination
provided in this Article III and appoints the Trustee such Holder’s attorney-in-fact for any and all such purposes. 

Section 3.7    NOTICE BY THE COMPANY. The Company shall give prompt written notice to a Responsible Officer of the
Trustee of any fact known to the Company that would prohibit the making of any payment of monies to or by the Trustee in respect of the Debentures 

  
 14 

 
pursuant to the provisions of this Article III. Notwithstanding the provisions of this Article III or any other provision of the Indenture, the Trustee shall not be charged with
knowledge of the existence of any facts that would prohibit the making of any payment of monies to or by the Trustee in respect of the Debentures pursuant to the provisions of this Article III, unless and until a Responsible Officer of the
Trustee shall have received written notice thereof from the Company or a holder or holders of Senior Indebtedness or from any trustee therefor; and before the receipt of any such written notice, the Trustee, subject to the provisions of
Article III of this Third Supplemental Indenture, shall be entitled in all respects to assume that no such facts exist; provided that if the Trustee shall not have received the notice provided for in this Section 3.7 at least two Business
Days prior to the date (i) upon which by the terms hereof any money may become payable for any purpose (including, without limitation, the payment of the principal of (or premium, if any) or interest or Additional Amounts on any Debenture), or
(ii) moneys and/or U.S. Government Obligations are deposited in trust pursuant to Article 10 of the Base Indenture then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive
such money and Government Obligations of the United States of America and to apply the same to the purposes for which they were received, and shall not be affected by any notice to the contrary that may be received by it within two Business Days
prior to such date. 
 The Trustee, subject to the provisions of Article 6 of the Base Indenture, shall be entitled to conclusively
rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness of the Company (or a trustee or representative on behalf of such holder) to establish that such notice has been given by a holder
of such Senior Indebtedness or a trustee or representative on behalf of any such holder or holders. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of such
Senior Indebtedness to participate in any payment or distribution pursuant to this Article III, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of such Senior Indebtedness
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 III, 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. 
 Upon
any payment or distribution of assets of the Company referred to in this Article III, the Trustee and the Holders of the Debentures shall be entitled to rely upon any order or decree entered by any court of competent jurisdiction in which such
insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, liquidating trustee, custodian, receiver, assignee for the benefit of
creditors, agent or other person making such payment or distribution, delivered to the Trustee or to the Holders of the Debentures, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of
Senior Indebtedness 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 III. 

Section 3.8    RIGHTS OF THE TRUSTEE; HOLDERS OF SENIOR INDEBTEDNESS. The Trustee in its individual capacity shall be
entitled to all the rights set forth in this Article III in respect of any Senior Indebtedness at any time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in this Third Supplemental Indenture shall deprive
the Trustee of any of its rights as such holder. 

  
 15 

 With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to
observe only such of its covenants and obligations as are specifically set forth in this Article III, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Third Supplemental
Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and, subject to the provisions of Article 6 of the Base Indenture, the Trustee shall not be liable to any holder of
Senior Indebtedness if it shall mistakenly or otherwise pay over or deliver to Holders of the Debentures, the Company or any other Person money or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article III
or otherwise. Nothing in this Article III shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.7 of the Base Indenture. 

Section 3.9    SUBORDINATION MAY NOT BE IMPAIRED. No right of any present or future holder of any Senior Indebtedness
to enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by
the Company with the terms, provisions and covenants of the Indenture, regardless of any knowledge thereof that any such holder may have or otherwise be charged with. 

Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness may, at any time and from time to
time, without the consent of or notice to the Trustee or the Holders of the Debentures, without incurring responsibility to the Holders of the Debentures and without impairing or releasing the subordination provided in this Article III or the
obligations hereunder of the Holders of the Debentures to the holders of Senior Indebtedness, do any one or more of the following: 

(a)    change the manner, place or terms of payment or extend the time of payment of, or renew or alter, such Senior
Indebtedness, or otherwise amend or supplement in any manner such Senior Indebtedness or any instrument evidencing the same or any agreement under which such Senior Indebtedness is outstanding; 

(b)    sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing such Senior
Indebtedness; 
 (c)    release any Person liable in any manner for the collection of such Senior Indebtedness; and 

(d)    exercise or refrain from exercising any rights against the Company and any other Person. 

Section 3.10    ARTICLE APPLICABLE TO PAYING AGENTS. In case at any time any Paying Agent other than the Trustee
shall have been appointed by the Company and then be acting hereunder, the term “Trustee” as used in this Article III shall in such case (unless the context otherwise requires) be construed as extending to and including such Paying
Agent within its meanings as fully and for all intents and purposes as if such Paying Agent were named in this article in addition to or in place of the Trustee. 

  
 16 

 Section 3.11    RANKING RELATIVE TO 2053, 2056, 2058 AND 2059
DEBENTURES. The Debentures rank equally with and not prior to the Company’s 5.625% Subordinated Debentures due 2053, the Company’s 5.900% Subordinated Debentures due 2056, the Company’s 5.75% Subordinated Debentures due 2056, the
Company’s 5.70% Subordinated Debentures due 2058 and the Company’s 5.10% Subordinated Debentures due 2059. 
 ARTICLE IV 

MISCELLANEOUS PROVISIONS 

Section 4.1    TRUSTEE NOT RESPONSIBLE FOR RECITALS. The recitals herein contained are made by the Company and not by
the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Third Supplemental Indenture. 

Section 4.2    PAYMENT OF EXPENSES UPON RESIGNATION OR REMOVAL. Upon termination of this Third Supplemental Indenture
or the Base Indenture or the removal or resignation of the Trustee, unless otherwise stated, the Company shall pay to the Trustee all amounts then due upon such termination, removal or resignation. 

Section 4.3    ADOPTION, RATIFICATION AND CONFIRMATION. The Base Indenture, as supplemented and amended by this Third
Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed. 
 Section 4.4    COUNTERPARTS;
ELECTRONIC SIGNATURES. This Third Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. Exchange of signature pages
to this Third Supplemental Indenture and each Debenture by facsimile or electronic transmission shall constitute effective execution and delivery of this Third Supplemental Indenture and each Debenture. 

Section 4.5    GOVERNING LAW. THIS THIRD SUPPLEMENTAL INDENTURE AND EACH DEBENTURE SHALL BE DEEMED TO BE A CONTRACT
MADE UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF. 

  
 17 

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

					
	W. R. BERKLEY CORPORATION
		
	By:	 	 /s/ Richard M. Baio

		 	Name:	 	Richard M. Baio
		 	Title:	 	Executive Vice President –
		 		 	Chief Financial Officer and Treasurer

  

					
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:	 	 /s/ Laurence J. O’Brien

		 	Name:	 	Laurence J. O’Brien
		 	Title:	 	Vice President

  
 [Signature Page to Third
Supplemental Indenture] 

 EXHIBIT A 

(FORM OF FACE OF DEBENTURE) 

THIS DEBENTURE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
(AS DEFINED IN THE INDENTURE) OR A NOMINEE THEREOF. THIS GLOBAL SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND,
UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS 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. 
  

			
	Certificate No. 1	  	$250,000,000
		
	Dated: September 21, 2020	  	CUSIP number: 084423 888

 W. R. BERKLEY CORPORATION 

4.25% Subordinated Debentures due 2060 

W. R. Berkley Corporation, a Delaware corporation (hereinafter called the “Company,” which term includes any successor Person
under the Indenture referred to below), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of 250,000,000 United States Dollars, subject to increase or decrease as set forth in the attached
Schedule, on September 30, 2060 and to pay interest thereon from September 21, 2020 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, quarterly in arrears on March 30, June 30,
September 30 and December 30 in each year (each an “Interest Payment Date”), beginning December 30, 2020 at the rate of 4.25% per annum, until the principal hereof is paid or duly made available for payment. The
interest so payable and punctually paid or duly provided for on any Interest Payment Date shall, as provided in such 

  
 A-1 

 
Indenture, be paid to the Person in whose name this Debenture (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 March 15, June 15, September 15 and December 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. However, interest paid on the Maturity or a Redemption Date shall be
paid to the Person to whom the principal will be payable. Any such interest which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the Holder hereof on the relevant
Regular Record Date by virtue of having been such Holder, and may be paid to the Person in whose name this Debenture (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 the Debentures not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Debentures 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 premium, if any) and the interest and Additional Amounts on this Debenture shall be made at the designated
office of the Trustee, in such currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided that for so long as the Debentures are represented in global form by one or more
Global Securities, all payments of principal (and premium, if any) and interest and Additional Amounts shall be made by wire transfer of immediately available funds to the Depositary or its nominee, as the case may be, as the registered owner of the
Global Security representing such Debentures. In the event that definitive Debentures shall have been issued, all payments of principal (and premium, if any) and interest and Additional Amounts shall be made by wire transfer of immediately available
funds to the accounts of the registered Holders thereof; provided, that the Company may at its option pay interest by check to the registered address of each Holder of a definitive Debenture. 

This Debenture is one of the duly authorized series of Securities of the Company, designated as the Company’s “4.25% Subordinated
Debentures due 2060”, initially limited to an aggregate principal amount of $250,000,000, all issued or to be issued under and pursuant to an Indenture (the “Base Indenture”), dated as of March 26, 2018, between the
Company and The Bank of New York Mellon, as Trustee (hereinafter referred to as the “Trustee”), as supplemented by the Third Supplemental Indenture thereto, dated as of September 21, 2020 (the “Third Supplemental
Indenture,” and together with the Base Indenture, the “Indenture”). Reference is hereby made to the Indenture for a description of the respective rights, limitation of rights, obligations, duties and immunities thereunder
of the Trustee, the Company and the Holders of the Debentures. 
 The Debentures will be unsecured obligations of the Company and will be
subordinated to all Senior Indebtedness of the Company in the manner set forth in the Indenture. 
 Subject to, and in accordance with, the
Third Supplemental Indenture, the Company shall have the right, at any time and from time to time, to defer the payment of interest on the Debentures. 

  
 A-2 

 The Company may redeem the Debentures in the manner and under the circumstances set forth in
the Indenture. 
 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 not less than a majority in
aggregate principal amount of the Securities at the time Outstanding of each series affected thereby. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Securities of any
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 Debenture shall be conclusive and binding upon such Holder and upon all future Holders of this Debenture and of any Debenture 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 Debenture. 
 No reference herein to the Indenture and no
provision of this Debenture or of the Indenture shall alter or impair the right of the Holder of this Debenture, which is absolute and unconditional, to receive payment of the principal of and, subject to certain qualifications in the Indenture,
interest and Additional Amounts on this Debenture at the times herein and in the Indenture prescribed and to institute suit for the enforcement of any such payment unless the Holder of this Debenture shall have consented to the impairment of such
right. 
 As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Debenture may be
registered in the Security Register, upon surrender of this Debenture for registration of transfer at the office or agency of the Company in any place where the principal of (and premium, if any) and interest and Additional Amounts on this Debenture
are payable, duly endorsed by, or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or by his attorney duly authorized in writing, and
thereupon one or more new Debentures of this series and of any authorized denominations and of a like aggregate principal amount and tenor, shall be issued to the designated transferee or transferees. 

The Debentures are issuable only in registered form without coupons in denominations of $25 and multiples of $25 in excess thereof. 

No service charge shall be made for any such registration of transfer or for exchange of this Debenture, but the Company or the Trustee may
require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of a Debenture, other than in certain cases provided in the Indenture. 

Prior to due presentment of this Debenture 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 Debenture is registered as the owner hereof for all purposes, whether or not this Debenture be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

  
 A-3 

 The Indenture contains provisions whereby (i) the Company may be discharged from its
obligations with respect to the Debentures (subject to certain exceptions) or (ii) the Company may be released from its obligations under specified covenants and agreements in the Indenture, in each case if the Company irrevocably deposits with
the Trustee money or U.S. Government Obligations sufficient to pay and discharge the entire indebtedness on all Debentures of this series, and satisfies certain other conditions, all as more fully provided in the Indenture. 

This Debenture shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflicts of
laws rules of such state. 
 All terms used in this Debenture which are defined in the Indenture shall have the meanings assigned to them in
the Indenture. 
 Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee under the Indenture by
the manual signature of one of its authorized signatories, which may be delivered via electronic transmission, this Debenture shall not be entitled to any benefits under the Indenture or be valid or obligatory for any purpose. 

  
 A-4 

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

 

			
	W. R. BERKLEY CORPORATION
		
	By:	 	
                    

		 	Name:
		 	Title:

  
 A-5 

 CERTIFICATE OF AUTHENTICATION 

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

Dated: 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	
                    

		 	Name:
		 	Title:

  
 A-6 

 FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

 
  

(Please print or typewrite name and address including postal zip code of Assignee) 

the Debentures of W. R. BERKLEY CORPORATION referenced in this certificate and does hereby irrevocably constitute and appoint
                     attorney to transfer the said Debenture on the books of the Company, with full power of substitution in the premises. 

 

							
	Dated:	 	
                    

	 		 	  

		 		 		 	(Signature)

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

  
 A-7 

 W. R. Berkley Corporation 

4.25% Subordinated Debentures due 2060 
 No: 1 

SCHEDULE OF INCREASES AND DECREASES IN GLOBAL DEBENTURE 

The following increases or decreases in this Global Debenture have been made: 
  

									
	 Date
	  	 Amount of

decrease in

Principal
Amount of this

Global
 Debenture
	  	 Amount of

increase in
 Principal

Amount of this

Global
Debenture
	  	 Principal

Amount of this
 Global

Debenture
 following such

decrease or
 increase
	  	 Signature of

authorized
 signatory of

Trustee or
 Securities

Custodian

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A-8

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