Document:

Ex102to3Q1410-QFormofRestrictedStockAwardandAgreement

Exhibit 10.2

NAVIDEA BIOPHARMACEUTICALS, INC.

2014 STOCK INCENTIVE PLAN
RESTRICTED STOCK AWARD GRANT NOTICE AND
RESTRICTED STOCK AWARD AGREEMENT

Navidea Biopharmaceuticals, Inc. (the “Company”), pursuant to its 2014 Stock Incentive Plan (the “Plan”), hereby grants to the individual listed below (“Holder”) the right to purchase the number of the Company’s common shares, par value $.001 per share, set forth below (the “Shares”), at the purchase price per share set forth below. This Restricted Stock award is subject to all of the terms and conditions as set forth herein and in the Restricted Stock Award Agreement attached hereto as  Exhibit A  (the “Restricted Stock Agreement”) and the Plan, each of which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Grant Notice and the Restricted Stock Agreement.

	
		
	Holder:
	[Name]

	 
	 

	Grant Date:
	[MM/DD/YYYY] 

	 
	 

	Purchase Price per Share:
	$0.00

	 
	 

	Total Number of Shares of Restricted Stock:
	__________ shares

	 
	 

	Vesting Schedule:
	[Describe time or performance-based conditions.]

By his or her signature and the Company’s signature below, Holder agrees to be bound by the terms and conditions of the Plan, the Restricted Stock Agreement, and this Grant Notice. Holder has reviewed the Restricted Stock Agreement, the Plan, and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of this Grant Notice, the Restricted Stock Agreement, and the Plan. Holder hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Compensation, Governance and Nominating Committee of the Company upon any questions arising under the Plan, this Grant Notice or the Restricted Stock Agreement. 

	
					
	NAVIDEA BIOPHARMACEUTICALS, INC.:
	 
	HOLDER:

	By: 
	 
	 
	 
	 

	Print Name:
	 
	 
	Print Name:
 
	 

	Title:
	 
	 
	 

	 
	 
	 
	 
	 

	Address:
	5600 Blazer Pkwy, Suite 200
	 
	Address:
 
	 

	 
	Dublin, OH 43017-7550
	 
	 
	 

EXHIBIT A
TO RESTRICTED STOCK AWARD GRANT NOTICE
RESTRICTED STOCK AWARD AGREEMENT

Pursuant to the Restricted Stock Award Grant Notice (“Grant Notice”) to which this Restricted Stock Award Agreement (this “Agreement ”) is attached, Navidea Biopharmaceuticals, Inc. (the “Company”) has granted to Holder the right to purchase the number of shares of Restricted Stock under the Company’s 2014 Stock Incentive Plan (the “Plan”) indicated in the Grant Notice.

ARTICLE I
GENERAL

1.1    Defined Terms. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and the Grant Notice.

1.2    Incorporation of Terms of Plan. The Shares are subject to the terms and conditions of the Plan which are incorporated herein by reference.

ARTICLE II
GRANT OF RESTRICTED STOCK

2.1    Grant of Restricted Stock. In consideration of Holder’s past and/or continued employment with or service to the Company or its Subsidiaries and for other good and valuable consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”), the Company irrevocably grants to Holder the right to purchase the number of common shares set forth in the Grant Notice (the “Shares”), upon the terms and conditions set forth in the Plan and this Agreement. 

2.2    Purchase Price. The purchase price of the Shares shall be as set forth in the Grant Notice, without commission or other charge. The payment of the purchase price shall be paid by cash or check.

2.3    Issuance of Shares. The issuance of the Shares under this Agreement shall occur at the principal office of the Company simultaneously with the execution of this Agreement by the parties or on such other date as the Company and Holder shall agree (the “Issuance Date ”). Subject to the provisions of Article IV below, on the Issuance Date, the Company shall issue the Shares (which shall be issued in Holder’s name).

2.4    Conditions to Issuance of Stock Certificates. The Shares, or any portion thereof, may be either previously authorized but unissued shares or issued shares which have been reacquired by the Company. Such Shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any Shares prior to fulfillment of all of the following conditions:

		
	(a)
	The completion of any registration or other qualification of such shares under any state or federal law or under rulings or regulations of the Securities and Exchange Commission or of any other governmental regulatory body, which the Compensation, Governance and Nominating Committee of the Company (hereinafter, the “Administrator”) shall, in its absolute discretion, deem necessary or advisable;

		
	(b)
	The obtaining of any approval or other clearance from any state or federal governmental agency which the Administrator shall, in its absolute discretion, determine to be necessary or advisable;

		
	(c)
	The lapse of such reasonable period of time following the Issuance Date as the Administrator may from time to time establish for reasons of administrative convenience; and

		
	(d)
	The receipt by the Company of full payment for such shares, including payment of all amounts which, under federal, state or local tax law, the Company (or other employer corporation) is required to withhold upon issuance of such Shares.

2.5    Rights as Stockholder. Except as otherwise provided herein, upon delivery of the Shares to the escrow agent pursuant to Article IV, the Holder shall have all the rights of a stockholder with respect to said Shares, subject to the restrictions herein, including the right to vote the Shares and to receive all dividends or other distributions paid or made with respect to the Shares.

2.6    Consideration to the Company. In consideration of the issuance of the Shares by the Company, Holder agrees to render faithful and efficient services to the Company or any Subsidiary. Nothing in the Plan or this Agreement shall confer upon Holder any right to continue in the employ or service of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the services of Holder at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and Holder.

2.7    Assets or Securities Issued With Respect to Shares. Any and all cash dividends paid on the Shares  and any and all common shares, capital stock or other securities or other property received by or distributed to Holder with respect to, in exchange for or in substitution of the Shares as a result of any stock dividend, stock split, reverse stock split, recapitalization, combination, reclassification, or similar change in the capital structure of the Company shall also be subject to the restrictions in Article III below until such restrictions on the underlying Shares lapse or are removed pursuant to this Agreement. In addition, in the event of any merger, consolidation, share exchange or reorganization affecting the Shares, including, without limitation, a Change of Control, then any new, substituted or additional securities or other property (including money paid other than as a regular cash dividend) that is by reason of any such transaction received with respect to, in exchange for or in substitution of the Shares shall also be subject to the restrictions in Article III below until such restrictions on the underlying Shares lapse or are removed pursuant to this Agreement.

ARTICLE III
RESTRICTIONS ON SHARES

3.1    Vesting. The Shares shall vest and be released from the forfeiture restrictions and restrictions on transfer set forth below in Sections 3.2 and 3.3 of this Agreement in accordance with the Vesting Schedule set forth on the Grant Notice.

3.2    Forfeiture Restrictions.  Upon the termination of Holder’s employment with the Company, all Shares that have not vested in accordance with the Vesting Schedule set forth on the Grant Notice (“Unreleased Shares”), held by Holder at the effective date of such termination, shall immediately and automatically be forfeited by Holder and assigned back to the Company.

3.3    Restrictions on Transfer.  No Unreleased Shares or any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of Holder or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect.
ARTICLE IV
ESCROW OF SHARES

4.1    Escrow of Shares. The Shares shall be held by the Company as escrow agent until such time as the Shares have vested in accordance with the Vesting Schedule set forth on the Grant Notice. Upon the vesting and release of the Shares from the restrictions set forth in Article III above, the Company shall deliver to Holder a certificate or certificates representing such Shares.

ARTICLE V
OTHER PROVISIONS

5.1    Adjustment for Stock Split. In the event of any stock dividend, stock split, reverse stock split, recapitalization, combination, reclassification, or similar change in the capital structure of the Company, the Administrator shall make appropriate and equitable adjustments in the number of Shares, consistent with any adjustment under Section 4.4 of the Plan. The provisions of this Agreement shall apply, to the full extent set forth herein with respect to the Shares, to any and all shares of capital stock or other securities which may be issued in respect of, in exchange for, or in substitution of the Shares, and shall be appropriately adjusted for any stock dividends, splits, reverse splits, combinations, recapitalizations and the like occurring after the date hereof.

5.2    Taxes. Holder has reviewed with Holder’s own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by the Grant Notice and this Agreement. Holder is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. Holder understands that Holder (and not the Company) shall be responsible for Holder’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. Holder understands that Holder will recognize ordinary income for federal income tax purposes under Section 83 of the Code as the Shares vest and the restrictions set forth in Sections 3.1 and 3.2 lapse. Holder understands that Holder may elect to be taxed for federal income tax purposes on the Grant Date rather than as and when the Shares vest by filing an election under Section 83(b) of the Code with the Internal Revenue Service within thirty (30) days from the Grant Date. A form of election under Section 83(b) of the Code is attached to the Grant Notice as Exhibit B. If the Holder makes an election under Section 83(b), the grant of Shares shall be conditioned upon the prompt payment by the Holder to the Company of an amount equal to the applicable federal, state and local income taxes and other amounts required by law to be withheld (the “Withholding Taxes”) in connection with such election. If the Holder does not make such an election, the Holder shall pay to the Company any required Withholding Taxes upon the lapse of all restrictions, and the delivery of the Shares shall be conditioned upon the prior payment of the applicable Withholding Taxes by the Holder.

5.3    Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if Holder is subject to Section 16 of the Exchange Act, the Plan, the Shares and this Agreement shall be subject to any additional limitations set forth in any applicable exceptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exceptive rule. To the extent permitted by applicable law, this 

Agreement shall be deemed amended to the extent necessary to conform to such applicable exceptive rule.

5.4    Administration. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon Holder, the Company and all other interested persons. No member of the Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement or the Shares. In its absolute discretion, the Board of Directors of the Company may at any time and from time to time exercise any and all rights and duties of the Administrator under the Plan and this Agreement.

5.5    Restrictive Legends and Stop-Transfer Orders.

		
	(a)
	Any share certificate(s) evidencing the Shares issued hereunder shall be endorsed with the following legend and any other legend required by any applicable federal and state securities laws:

THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO, AND ARE TRANSFERABLE ONLY IN COMPLIANCE WITH, THE TERMS AND CONDITIONS OF A CERTAIN RESTRICTED STOCK AWARD AGREEMENT, DATED [__________ __, 20__], BETWEEN THE REGISTERED HOLDER OF THESE SHARES AND NAVIDEA BIOPHARMACEUTICALS, INC., WHICH AGREEMENT IS ON FILE WITH THE SECRETARY OF THE CORPORATION, AND THE HOLDER HEREOF ACCEPTS AND HOLDS THIS CERTIFICATE SUBJECT TO AND WITH NOTICE OF ALL OF THE TERMS, CONDITIONS AND PROVISIONS OF SAID AGREEMENT AND AGREES TO BE BOUND THEREBY.

		
	(b)
	Holder agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.

		
	(c)
	The Company shall not be required: (i) to transfer on its books any common shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement, or (ii) to treat as owner of such common shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such shares shall have been so transferred.

5.6    Notices. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company, and any notice to be given to Holder shall be addressed to Holder at the address given beneath Holder’s signature on the Grant Notice. By a notice given pursuant to this Section 5.6, either party may hereafter designate a different address for notices to be given to that party. Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service.

5.7    Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

5.8    Governing Law; Severability. This Agreement shall be administered, interpreted and enforced under the laws of the State of Ohio without regard to conflicts of laws thereof. Should any provision of this Agreement be determined by a court of law to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable.

5.9    Conformity to Securities Laws. Holder acknowledges that the Plan is intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Shares are to be issued, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

5.10    Amendments. This Agreement may not be modified, amended or terminated except by an instrument in writing, signed by Holder and by a duly authorized representative of the Company.

5.11    No Employment Rights. If Holder is an Employee, nothing in the Plan or this Agreement shall confer upon Holder any right to continue in the employ of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which are expressly reserved, to discharge Holder at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Company and Holder.

5.12    Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement shall be binding upon Holder and his or her heirs, executors, administrators, successors and assigns.

EXHIBIT B
TO RESTRICTED STOCK AWARD GRANT NOTICE

FORM OF 83(B) ELECTION AND INSTRUCTIONS

These instructions are provided to assist you if you choose to make an election under Section 83(b) of the Internal Revenue Code, as amended, with respect to the shares of common stock, par value $0.001, of Navidea Biopharmaceuticals, Inc. transferred to you.  Please consult with your personal tax advisor as to whether an election of this nature will be in your best interests in light of your personal tax situation .

The executed original of the Section 83(b) election must be filed with the Internal Revenue Service not later than 30 days after the date the shares were granted to you .  PLEASE NOTE: There is no remedy for failure to file on time. The steps outlined below should be followed to help ensure the election is mailed and filed correctly and in a timely manner.   ALSO, PLEASE NOTE: If you make the Section 83(b) election, the election is irrevocable.

		
	1.
	Complete the Section 83(b) election form (attached as Attachment 1) and make four (4) copies of the signed election form. (Your spouse, if any, should sign the Section 83(b) election form as well.)

		
	2.
	Prepare the cover letter to the Internal Revenue Service (sample letter attached as Attachment 2).

		
	3.
	Send the cover letter with the originally executed Section 83(b) election form and one (1) copy via certified mail, return receipt requested to the Internal Revenue Service at the address of the Internal Revenue Service where you file your personal tax returns. We suggest that you have the package date-stamped at the post office. The post office will provide you with a white certified receipt that includes a dated postmark. Enclose a self-addressed, stamped envelope so that the Internal Revenue Service may return a date-stamped copy to you. However, your postmarked receipt is your proof of having timely filed the Section 83(b) election if you do not receive confirmation from the Internal Revenue Service.

		
	4.
	One (1) copy must be sent to Navidea Biopharmaceuticals, Inc. for its records and one (1) copy must be attached to your federal income tax return for the applicable calendar year.

		
	5.
	Retain the Internal Revenue Service file stamped copy (when returned) for your records.

Please consult your personal tax advisor for the address of the office of the Internal Revenue Service to which you should mail your election form.

ATTACHMENT 1 TO EXHIBIT B

ELECTION UNDER INTERNAL REVENUE CODE SECTION 83(B)

The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in taxpayer’s gross income for the current taxable year the amount of any compensation taxable to taxpayer in connection with taxpayer’s receipt of shares (the “Shares”) of Common Stock, par value $0.001 per share, of Navidea Biopharmaceuticals, Inc., a Delaware corporation (the “Company”).

		
	1.
	The name, address and taxpayer identification number of the undersigned taxpayer are:

[Name]
[Address]
[City, State, Zip]

The name, address and taxpayer identification number of the Taxpayer’s spouse are (complete if applicable):

		
	2.
	Description of the property with respect to which the election is being made:  [Shares] shares of Common Stock, par value $0.001 per share, of the Company.

		
	3.
	The date on which the property was transferred was [Date of Grant].

		
	4.
	The taxable year to which this election relates is calendar year ______.

		
	5.
	Nature of restrictions to which the property is subject:

The Shares are subject to forfeiture [describe vesting conditions].  The Shares may not be directly or indirectly sold, exchanged, pledged, assigned, or otherwise disposed of before the previously described restrictions lapse.

		
	6.
	The fair market value at the time of transfer (determined without regard to any lapse restrictions, as defined in Treasury Regulation Section 1.83-3(a)) of the Shares was $XXX per Share.

		
	7.
	The amount paid by the taxpayer for Shares was $0.00 per share.

		
	8.
	A copy of this statement has been furnished to the Company.

Dated:    _____________________, 20__    Taxpayer Signature:  __________________________

The undersigned spouse of Taxpayer joins in this election.  (Complete if applicable.)

Dated:    _____________________, 20__    Taxpayer Signature:  __________________________

ATTACHMENT 2 TO EXHIBIT B

SAMPLE COVER LETTER TO INTERNAL REVENUE SERVICE

[Date]
VIA CERTIFIED MAIL
 RETURN RECEIPT REQUESTED

Internal Revenue Service
[Address where taxpayer files returns]

	
				
	 
	Re:
	 
	Election under Section 83(b) of the Internal Revenue Code of 1986

Taxpayer Name:

Taxpayer’s Social Security Number: 

Taxpayer’s Spouse:

Taxpayer’s Spouse’s Social Security Number:

Ladies and Gentlemen:

Enclosed please find an original and one copy of an Election under Section 83(b) of the Internal Revenue Code of 1986, as amended, being made by the taxpayer referenced above. Please acknowledge receipt of the enclosed materials by stamping the enclosed copy of the Election and returning it to me in the self-addressed stamped envelope provided herewith.

Very truly yours,

Enclosure

cc:        Navidea Biopharmaceuticals, Inc.

COLUMBUS/1714199v.2EX-4.2

 Exhibit 4.2 

Execution Version 
 SECOND
SUPPLEMENTAL INDENTURE 
 Dated as of November 10, 2014 

between 
 FIRST AMERICAN FINANCIAL
CORPORATION, 
 as Issuer 
 and

 U.S. BANK NATIONAL ASSOCIATION, as Trustee 

4.600% Senior Notes due 2024 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE ONE Relation to Indenture; Additional Definitions
	  	 	1	  
			
	 1.01
	 	 Relation to Indenture
	  	 	1	  
	 1.02
	 	 Additional Definitions
	  	 	1	  
		
	 ARTICLE TWO The Series of Notes
	  	 	3	  
			
	 2.01
	 	 Title of the Notes
	  	 	3	  
	 2.02
	 	 No Limitation on Aggregate Principal Amount
	  	 	3	  
	 2.03
	 	 Stated Maturity
	  	 	3	  
	 2.04
	 	 Interest and Interest Rate
	  	 	3	  
	 2.05
	 	 Place of Payment
	  	 	4	  
	 2.06
	 	 Place of Registration or Exchange; Notices and Demands With Respect to the 2024 Notes
	  	 	4	  
	 2.07
	 	 Global Notes
	  	 	4	  
	 2.08
	 	 Form of Securities
	  	 	4	  
	 2.09
	 	 Note Registrar
	  	 	4	  
	 2.10
	 	 Mandatory Redemption; Sinking Fund Obligations
	  	 	4	  
		
	 ARTICLE THREE Optional Redemption of the 2024 Notes
	  	 	5	  
			
	 3.01
	 	 Redemption Price
	  	 	5	  
		
	 ARTICLE FOUR Covenants
	  	 	5	  
			
	 4.01
	 	 Restrictions on Liens
	  	 	5	  
		
	 ARTICLE FIVE Miscellaneous Provisions
	  	 	6	  

  
 -i- 

 THIS SECOND SUPPLEMENTAL INDENTURE (the “Supplemental Indenture”), dated as of
November 10, 2014, between FIRST AMERICAN FINANCIAL CORPORATION, a Delaware corporation (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association duly incorporated and existing under the laws of the
United States of America, as Trustee (the “Trustee”). 
 W I T N E S S E T H: 

WHEREAS, the Company and the Trustee have heretofore executed and delivered an Indenture, dated as of January 24, 2013 (the
“Original Indenture” and, as hereby supplemented, the “Indenture”), providing for the issuance from time to time of one or more series of the Company’s Securities; 

WHEREAS, pursuant to the terms of the Indenture, the Company desires to provide for the establishment of a series of Securities to be
designated as the “4.600% Senior Notes due 2024” (herein referred to as the “2024 Notes”), the form and substance of the 2024 Notes and the terms, provisions and conditions thereof to be set forth as provided in the
Original Indenture and this Supplemental Indenture; 
 WHEREAS, Section 9.01(iv) of the Original Indenture provides that the Company
and the Trustee may provide for the issuance of additional Securities in accordance with the Original Indenture; 
 WHEREAS,
Section 2.03 of the Original Indenture provides that various matters with respect to any series of Securities issued under the Indenture may be established in a supplemental indenture to the Original Indenture; and 

WHEREAS, all acts and things necessary to make this Supplemental Indenture, when duly executed and delivered, a valid, binding and legal
instrument in accordance with its terms and for the purposes herein expressed, have been done and performed; and the execution and delivery of this Supplemental Indenture have been in all respects duly authorized. 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and intending to be legally bound, the parties to this
Supplemental Indenture hereby agree as follows: 
 ARTICLE ONE 

Relation to Indenture; Additional Definitions 

1.01 Relation to Indenture. This Supplemental Indenture constitutes an integral part of the Indenture. 

1.02 Additional Definitions. For all purposes of this Supplemental Indenture, capitalized terms used herein shall have the respective
meanings specified below or in the Original Indenture, as the case may be. 

 “Adjusted Treasury Rate” means, with respect to any redemption date, the yield,
under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of
Governors of the Federal Reserve System and which establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the
Comparable Treasury Issue (or if no maturity is within three months before or after the remaining term of the 2024 Notes, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the
Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such redemption date. 
 “Comparable Treasury Issue” means the U.S. Treasury
security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the 2024 Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues
of corporate debt securities of comparable maturity to the remaining term of the 2024 Notes, or, if, in the reasonable judgment of the Independent Investment Banker, there is no such security, then the Comparable Treasury Issue will mean the U.S.
Treasury security or securities selected by the Independent Investment Banker as having an actual or interpolated maturity or maturities comparable to the remaining term of the 2024 Notes. 

“Comparable Treasury Price” means (1) the average of five Reference Treasury Dealer Quotations for the applicable
redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations.

 “Covered Subsidiaries” means, as of any date of determination, any Subsidiary of the Company, the consolidated total
assets of which, as of the last day of the most recent fiscal quarter of the Company for which a consolidated balance sheet of the Company and its Subsidiaries is internally available and has been prepared in accordance with GAAP, constitute at
least 15% of the Company’s total consolidated assets, and any successor to any such Subsidiary whose consolidated total assets likewise satisfy such requirement; provided, however, that (i) Covered Subsidiaries shall in no
event include any Subsidiary of the Company that is not itself an insurance company or the direct or indirect owner of one or more subsidiaries that is an insurance company and (ii) consolidated total assets shall be calculated giving pro forma
effect to any material (as determined in good faith by the chief financial officer of the Company) asset acquisition or disposition by the Company and its Subsidiaries occurring after the end of the most recently completed fiscal quarter for which a
consolidated balance sheet of the Company and its Subsidiaries is internally available, and on or prior to the date of determination (as if such acquisition or disposition occurred at the end of such completed fiscal quarter). 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company to act as an
“Independent Investment Banker”. 

  
 -2- 

 “Interest Payment Dates” means May 15 and November 15 of each year, or
if any such day is not a Business Day, the next succeeding Business Day, until maturity, beginning on May 15, 2015. 

“Maturity Date” has the meaning set forth in Section 2.03 hereof. 

“Note Registrar” means U.S. Bank National Association, hereby appointed as an agency of the Company in accordance with
Section 2.05 of the Original Indenture. 
 “Original Indenture” has the meaning set forth in the first paragraph of
the Recitals hereof. 
 “Reference Treasury Dealer” means J.P. Morgan Securities LLC, Goldman, Sachs & Co., U.S.
Bancorp Investments, Inc. and two Primary Treasury Dealers to be selected by the Company and its respective successors; provided that if any of the foregoing ceases to be, and has no affiliate that is, a primary U.S. governmental securities
dealer (a “Primary Treasury Dealer”), the Company (or its successor) will substitute for it another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by an Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker and the
Trustee at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 
 “2024 Notes” has the
meaning set forth in the second paragraph of the Recitals hereof. 
 All references herein to Articles, Sections or Exhibits, unless
otherwise specified, refer to the corresponding Articles, Sections or Exhibits of this Supplemental Indenture. The terms “herein,” “hereof,” “hereunder” and other words of similar import refer to
this Supplemental Indenture. 
 ARTICLE TWO 

The Series of Notes 
 2.01
Title of the Notes. The 2024 Notes shall be designated as the “4.600% Senior Notes due 2024.” 
 2.02 No
Limitation on Aggregate Principal Amount. There shall be no limitation on the aggregate principal amount of 2024 Notes that may be outstanding. 

2.03 Stated Maturity. The stated maturity of the 2024 Notes shall be November 15, 2024 (the “Maturity
Date”). 
 2.04 Interest and Interest Rate. 

(a) The 2024 Notes shall bear interest at the rate of 4.600% per annum, from and including their Original Issue Date of November 10,
2014, or from the most recent Interest 

  
 -3- 

 
Payment Date on which interest has been paid or provided for, but excluding, the Maturity Date. Such interest shall be payable semiannually in arrears, on the Interest Payment Dates. Interest on
the 2024 Notes will be computed on the basis of a 360-day year comprised of twelve 30-day months. Interest accrued on the 2024 Notes from the last Interest Payment Date before the Maturity Date shall be payable on the Maturity Date. 

(b) The interest so payable on any Interest Payment Date shall be paid to the Persons in whose names the 2024 Notes are registered at the
close of business on the record date for such Interest Payment Date, being the immediately preceding May 1 and November 1, as the case may be. 

2.05 Place of Payment. The place or places where the principal of and interest on the 2024 Notes shall be payable is the office
or agency of the Company maintained for such purpose, which shall initially be the Corporate Trust Office of the Trustee, and any other place or places designated by the Company pursuant to the Indenture, provided that while the 2024 Notes are
represented by one or more Registered Global Securities registered in the name of the Depositary, or its nominee, the Company will cause payments of principal and interest on such Registered Global Securities to be made to the Depositary or its
nominee, as the case may be, by wire transfer to the extent, in the funds and in the manner required by agreements with, or regulations or procedures prescribed from time to time by the Depositary or its nominee, and otherwise in accordance with
such agreements, regulations or procedures. 
 2.06 Place of Registration or Exchange; Notices and Demands With Respect to the 2024
Notes. The place where the Holders of the 2024 Notes may present the 2024 Notes for registration of transfer or exchange and may make notices and demands to or upon the Company in respect of the 2024 Notes shall be the Corporate Trust
Office of the Trustee. 
 2.07 Global Notes. 

(a) 2024 Notes shall be issuable in whole or in part in the form of one or more Global Notes in definitive, full registered, book-entry form,
without interest coupons. The Global Note shall be deposited on its Original Issue Date with, or on behalf of, the Depositary. 
 (b) The
Depository Trust Company shall initially serve as Depositary with respect to the Global Note. Such Global Note shall bear the legend set forth in the form of Note attached as Exhibit A. 

2.08 Form of Securities. The Global Note shall be substantially in the form attached as Exhibit A. 

2.09 Note Registrar. The Trustee shall initially serve as the Note Registrar for the 2024 Notes. 

2.10 Mandatory Redemption; Sinking Fund Obligations. The Company shall have no obligation to redeem or purchase any 2024 Notes pursuant
to any mandatory redemption, sinking fund or analogous requirement. 

  
 -4- 

 ARTICLE THREE 

Optional Redemption of the 2024 Notes 

3.01 Redemption Price. The Company shall have the right to redeem the 2024 Notes, at its option, in whole or in part, at any time and
from time to time at a redemption price equal to the greater of: 
 (a) 100% of the principal amount of the 2024 Notes to be redeemed; or

 (b) the sum of the present values of the remaining scheduled payments of principal and interest on the 2024 Notes to be redeemed
(exclusive of the interest accrued to the date of redemption) computed by discounting such payments to the redemption date on a semi-annual basis, assuming a 360-day year consisting of twelve 30-day months, at a rate equal to the sum of 35 basis
points plus the Adjusted Treasury Rate on the third Business Day prior to the redemption date, as calculated by an Independent Investment Banker, 

plus, in each case, unpaid interest that has accrued to, but excluding, the date of redemption (subject to the right of Holders of record on the
relevant record date to receive interest due on the relevant Interest Payment Date). 
 ARTICLE FOUR 

Covenants 
 4.01
Restrictions on Liens. Article Four of the Original Indenture shall be amended by adding the following new Section 4.09 thereto as set forth below for the benefit of the Holders of the 2024 Notes but no other series of Securities under
the Original Indenture, whether now or hereafter issued and outstanding (except as may be provided in any supplemental indenture to the Original Indenture): 
  

	“Section 4.09	Restrictions on Liens. 

 (a) The Company will not, nor will it permit any Covered Subsidiaries to, incur,
create, issue, assume, guarantee or otherwise become liable for any Indebtedness for Borrowed Money secured by a Lien on Voting Stock of any Covered Subsidiary unless the 2024 Notes then outstanding are secured by such Lien equally and ratably with
(or prior to) such Indebtedness for Borrowed Money, for so long as such other Indebtedness for Borrowed Money is so secured. This restriction will not apply to Indebtedness for Borrowed Money secured by: 

 

	 	(1)	Liens on the Voting Stock of a Person existing at the time such Person becomes a Subsidiary of the Company; provided that such Liens were in existence prior to and not incurred in contemplation of such Person
becoming a Subsidiary of the Company; 

  

	 	(2)	Liens on the Voting Stock of any Covered Subsidiary in favor of the Company or any Subsidiary of the Company, including, without limitation, Liens securing Indebtedness for Borrowed Money between or among the Company
and any Subsidiary of the Company; and 

  
 -5- 

	 	(3)	any extension, renewal or replacement (and successive extensions, renewals and replacements), in whole or in part, of any Lien referred to in clause (1) above; provided that (a) such extension, renewal
or replacement Lien is limited to the same Voting Stock that secured the original Lien and (b) the principal amount of the Indebtedness secured by the new Lien is not greater than the principal amount of any Indebtedness secured by the Lien
that is extended, renewed or replaced, plus accrued interest and any fees and expenses, including, without limitation, premium or defeasance costs, payable in connection with any such extension, renewal or replacement. 

(b) Liens on Voting Stock securing the 2024 Notes as a result of this Section 4.09 shall be released upon the release of any such Lien securing the
Indebtedness for Borrowed Money which resulted in the 2024 Notes being so secured.” 
 ARTICLE FIVE 

Miscellaneous Provisions 

5.01 The Original Indenture, as supplemented by this Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed. Except
as expressly amended hereby, the Original Indenture shall continue in full force and effect in accordance with the provisions thereof. 

5.02 This 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. 
 5.03 THIS SUPPLEMENTAL INDENTURE IS, AND ANY 2024 NOTES WILL BE, GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THEREOF. 
 5.04 If any
provision in this Supplemental Indenture limits, qualifies or conflicts with another provision hereof that is required to be included herein by any provisions of the Trust Indenture Act, such required provision shall control. 

5.05 In case any provision in this Supplemental Indenture or the 2024 Notes shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 5.06 The recitals contained herein
shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture, except that the Trustee
represents that it is duly authorized to execute and deliver this Supplemental Indenture and perform its obligations hereunder. 

*        *        *       
 * 

  
 -6- 

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

					
	FIRST AMERICAN FINANCIAL CORPORATION
		
	By:	 	 /S/ MARK E. SEATON

		 	Name:	 	Mark E. Seaton
		 	Title:	 	Executive Vice President and Chief Financial Officer
	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /S/ JACK ELLERIN

		 	Name:	 	Jack Ellerin
		 	Title:	 	Vice President

 Exhibit A 

CUSIP/ISIN 
 4.600% Senior Notes
due 2024 
 No. 
 FIRST AMERICAN FINANCIAL
CORPORATION 
 promises to pay to Cede & Co., or registered assigns, 

the principal sum of          DOLLARS on November 15, 2024. 

Interest Payment Dates: May 15 and November 15 

Record Dates: May 1 and November 1 
 Dated:
            , 20     
  

			
	First American Financial Corporation
		
	By:	 	  

	Name:	 	
	Title:	 	

 This is one of the Securities referred to 

in the within-mentioned Indenture: 
  

			
	U.S BANK NATIONAL ASSOCIATION,
	as Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

 4.600% Senior Notes due 2024 

THIS SECURITY IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR
IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO THE 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. 
 Capitalized terms used herein have the
meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 (1) INTEREST. First
American Financial Corporation, a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Security at 4.600% per annum from
            , 20     until maturity. The Company will pay interest semiannually in arrears on May 15 and November 15 of each year, or if any such day is not a
Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date
of issuance; provided that if there is no existing Default in the payment of interest, and if this Security is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall
accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be             , 20     . Interest will be
computed on the basis of a 360-day year or twelve 30-day months. 
 (2) METHOD OF PAYMENT. The Company will pay
interest on the Securities to the Persons who are registered Holders of Securities at the close of business on the May 1 or November 1 immediately preceding the Interest Payment Date, even if such Securities are cancelled after such record
date and on or before such Interest Payment Date. The Securities will be payable as to principal, premium, if any, and interest at the office or agency of the Company maintained for such purpose within or without the City and State of New York, or,
at the option of the Company, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be required with
respect to principal of and interest and premium, if any, on, all Registered Global Securities and all other Securities the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in
such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

(3) PAYING AGENT AND REGISTRAR. Initially, U.S. Bank National Association, the Trustee under the Indenture, will act as
Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

(4) INDENTURE. The Company issued the Securities under an Indenture dated as of January 24, 2013 (the
“Original Indenture” and, as supplemented by the Second Supplemental Indenture dated as of November 10, 2014 (the “Supplemental Indenture”), the “Indenture”), between

 
the Company and the Trustee. The terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act (the
“TIA”). The Securities are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such terms. To the extent any provision of this Security conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling. The Securities are unsecured obligations of the Company. The Indenture does not limit the aggregate principal amount of Securities that may be issued thereunder. 

(5) OPTIONAL REDEMPTION. 

(a) The Company may redeem the Securities, in whole or in part, at any time and from time to time at a redemption price equal
to the greater of (i) 100% of the principal amount of the Securities then outstanding to be redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Securities to be redeemed
(exclusive of the interest accrued to the date of redemption) computed by discounting such payments to the redemption date on a semi-annual basis, assuming a 360-day year consisting of twelve 30-day months, at a rate equal to the sum of 35 basis
points plus the Adjusted Treasury Rate on the third Business Day prior to the redemption date, as calculated by an Independent Investment Banker, plus, in each case, unpaid interest that has accrued to, but excluding, the date of redemption (subject
to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date). 

(b) Unless the Company defaults in payment of the redemption price, on and after the date of redemption, interest will cease to
accrue on the Securities or portions thereof called for redemption. 
 (c) Any redemption pursuant to Article 3 of the
Original Indenture shall be made pursuant to the provisions of Sections 3.01 through 3.05 of the Original Indenture as supplemented by Article 3 of the Supplemental Indenture. 

(6) NOTICE OF REDEMPTION. Notice of redemption will be mailed at least 20 days but not more than 60 days before the
redemption date (except that a redemption notice may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Securities or a satisfaction and discharge of the Indenture) to each Holder
whose Securities are to be redeemed at its registered address and otherwise in accordance with the terms of the Indenture. Securities in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000, unless all of
the Securities held by a Holder are to be redeemed. 
 (7) DENOMINATIONS, TRANSFER, EXCHANGE. The Securities are in
registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess of $2,000. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. The Registrar and the Trustee
may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or
register the transfer of any Security or portion of a Security selected for redemption, except for the unredeemed portion of any Security being redeemed in part. The Company shall not be required (i) to issue, register the transfer of, or
exchange Securities during the period from the opening of business 15 days before the day a notice of redemption relating to such Securities selected for redemption is sent to the close of business on the day that notice is sent, or (ii) to
register the transfer of or exchange any Security so selected for redemption in whole or part, except for the unredeemed portion of any Security being redeemed in part. 

 (8) PERSONS DEEMED OWNERS. The registered Holder of a Security may be treated as its owner
for all purposes. 
 (9) AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions described in the Original
Indenture, the Indenture or the Securities may be amended, supplemented or waived with the consent of the Holders of a majority in aggregate principal amount of the Securities (including, without limitation, consents obtained in connection with a
purchase of, or tender offer or exchange offer for, Securities). Without the consent of any Holder of a Security, the Indenture or the Securities may be amended, supplemented or waived (i) to cure any ambiguity, omission, defect or
inconsistency that does not materially adversely affect the interests of Holders of the Securities, (ii) to provide for the assumption by a successor to the obligations of the Company under the Indenture, (iii) to provide for
uncertificated Securities in addition to or in place of certificated Securities, (iv) to provide for the issuance of, or establish the form or terms of, additional Securities in accordance with the Indenture, (v) to add guarantors or
co-obligors with respect to the Securities, (vi) to secure the Securities, (vii) to change or eliminate any of the provisions of the Indenture, but only if the change or elimination becomes effective when there are no outstanding
Securities of any series, or related coupon, which are entitled to the benefit of such provision and as to which such modification would apply, (viii) to evidence and provide for the acceptance of appointment by a successor trustee and to add
to or change any of the provisions of the Indenture to facilitate the administration of the trusts by more than one trustee, (ix) to conform the text of the Indenture or the Securities to any provision of a description of the Securities
appearing in a prospectus or prospectus supplement or an offering memorandum or offering circular pursuant to which the Securities were offered to the extent that such provision was intended to be a verbatim recitation of a provision of the
Indenture or the Securities, (x) to add to the covenants of the Company or Events of Default for the benefit of the Holders of the Securities or surrender any right or power conferred upon the Company, (xi) to effect any provision of this
Indenture, (xii) to comply with requirements of the Commission in order to effect or maintain the qualification of the Indenture under the TIA or (xiii) to make other provisions that do not adversely affect the rights of any Holder of
outstanding Securities. 
 (10) DEFAULTS AND REMEDIES. Events of Default include: (i) default in payment when due
of any principal of, or premium, if any, on the Securities, whether at maturity, upon any redemption or otherwise; (ii) a default for 30 days in payment when due of interest on the Securities; (iii) a default for 60 days after written
notice from the Trustee or Holders of at least 25% in principal amount of the outstanding Securities in the compliance with any other covenant in the Indenture or the Securities; (iv) a default under any instrument evidencing Indebtedness for
Borrowed Money of the Company which default is caused by a failure to pay principal when due at final (and not any interim) maturity of such Indebtedness on or prior to the expiration of the grace period provided in such Indebtedness or results in
the acceleration of such Indebtedness prior to its stated maturity (without such acceleration having been rescinded, annulled or otherwise cured, or such Indebtedness having been paid in full, or there having been deposited into trust a sum of money
sufficient to pay in full such Indebtedness, within 30 days after receipt of written notice of such default or breach to the Company by the Trustee or to the Company and the Trustee by Holders of at least 25% in aggregate principal amount of the
Securities); and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated (without
such acceleration having been rescinded, annulled or otherwise cured), aggregates $100.0 million or more; and (v) certain events of bankruptcy or insolvency with respect to the Company or any of its Subsidiaries that is a Significant Subsidiary
or any group of Subsidiaries that, taken together, would constitute a Significant Subsidiary. 

 In the case of an Event of Default of the type specified in clause (v) above
with respect to the Company, any Subsidiary of the Company that is a Significant Subsidiary or any group of Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary, all outstanding Securities will become due and
payable immediately without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities then outstanding may declare the principal
of all the Securities to be due and payable immediately. Holders may not enforce the Indenture or the Securities except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then
outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Securities notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the
payment of principal or interest or premium, if any) if it in good faith determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the outstanding Securities by notice to the Trustee may, on
behalf of the Holders of all of the Securities, waive an existing Default or Event of Default and its consequences under the Indenture except a Default or Event of Default in the payment of principal of, premium or interest, if any, on the
Securities or in respect or a covenant or provision of the Indenture which cannot be modified or amended without the consent of the Holder of each outstanding Security. The Company is required to deliver to the Trustee annually a statement regarding
compliance with the Indenture, and the Company is required, upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default. 

(11) TRUSTEE DEALINGS WITH COMPANY. The Trustee, in its individual or any other capacity, may make loans to, accept
deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 

(12) NO RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator or equityholder of the Company or any of
its Subsidiaries will have any liability for any obligations of the Company under any of the Securities or the Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder of the Securities by
accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. 

(13) AUTHENTICATION. This Security will not be valid until authenticated by the manual signature of the Trustee or an
authenticating agent. 
 (14) ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

(15) CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Company has caused CUSIP numbers to be printed on the Securities, and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as
printed on the Securities or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

(16) GOVERNING LAW. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN THE INDENTURE AND THIS SECURITY WITHOUT REGARD TO
CONFLICTS OF LAW PRINCIPLES THEREOF. 

 The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to: 
 First American Financial Corporation 

1 First American Way 
 Santa Ana, CA 92707-5913 

Attention: Investor Relations 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:	  	  

		  	(Insert assignee’s legal name)

  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name, address and
zip code) 
 and irrevocably appoint
                     to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

									
	Date:	 	  
	 		 		 	

									
					
		 		 		 	Your Signature:	 	  

		 		 		 	(Sign exactly as your name appears on the face of this Security)
				
	Signature Guarantee*:	 	  
	 		 	

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE REGISTERED GLOBAL SECURITY 

The following exchanges of a part of this Registered Global Security for an interest in another Registered Global Security or for an
Unregistered Security, or exchanges of a part of another Registered Global Security or Unregistered Security for an interest in this Registered Global Security, have been made: 

 

									
	 Date of Exchange
	  	 Amount of decrease in
Principal Amount of this
Registered
Global Security
	  	 Amount of increase in
Principal Amount of this
Registered
Global Security
	  	 Principal Amount 
of this Registered Global
Security
following such
decrease (or increase)
	  	 Signature of

authorized officer of
 Trustee or
Custodian

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