Document:

lsyn_ex101

 

Exhibit 10.1

 

SEPARATION AND TRANSITION SERVICES AGREEMENT AND GENERAL
RELEASE

 

This
Separation and Transition Services Agreement and General Release
(“Agreement”) is made and
entered into on July 31, 2020, by and between Liberated Syndication
Inc., a Nevada corporation (the “Company”) and Christopher
Spencer (“Executive”). The Company
and Executive are each also referred to as a “Party” and collectively
as the “Parties.”

 

RECITALS

 

WHEREAS,
pursuant to that certain Employment Agreement, dated as of March
15, 2019, between Executive and the Company (the
“Employment
Agreement”), Executive is employed as the Chief
Executive Officer of the Company and its subsidiaries (the
“Subsidiaries”), and is
also a member of the Company’s Board of
Directors.

 

WHEREAS,
Executive currently holds vested and unvested shares of the
Company’s common stock.

 

WHEREAS,
the Company intends to announce the results of its strategic
review, that it will be looking for acquisitions and other ways to
enable podcasters to monetize their creative work, and that
financial advisors have been retained by the Company through
December 31, 2020 to complete the strategic review.

 

WHEREAS,
the Parties intend that this Agreement supersede the Employment
Agreement and any oral agreements and understandings regarding
Executive’s employment with the Company, its Subsidiaries,
affiliates, joint ventures, partnerships and other business
enterprises (collectively, the “Affiliates” and together
with the Company, the “Company Group”), and
shall confirm Executive’s resignation from his position as
the Company’s Chief Executive Officer and a member of the
Board of Directors and set forth the terms of his continued
advisory services to the Company.

 

AGREEMENT

 

NOW
THEREFORE, in consideration of the foregoing and for other good and
valuable consideration, the receipt and sufficiency of which is
hereby acknowledged by the Parties, the Company and Executive agree
as follows:

 

1. Resignation and
Transition.

 

(a) Generally.
Executive acknowledges and confirms that he voluntarily resigns as
Chief Executive Officer of the Company Group and as a member of the
Company’s Board of Directors immediately upon the execution
of this Agreement (the “Resignation Date”).
Executive acknowledges that he is resigning as an officer and
director of the Company and each Subsidiary effective as of the
Resignation Date. Executive understands and agrees that from and
after the Resignation Date he will no longer be authorized to speak
on behalf of, or incur obligations or liabilities on behalf of, any
member of the Company Group. The Parties agree to waive any and all
notice periods that apply to the aforementioned
terminations.

 

(b) Continued
Employment and Payment. During the period beginning on the
Resignation Date and ending on December 31, 2020 (the
“Transition
Period”), the Company shall employ Executive, and
Executive shall (i)
assist the Company and its financial advisors with the strategic
review and transition plan and provide such other services
commensurate with Executive’s former position as Chief
Executive Officer as may be reasonably required by the Company from
time to time and (ii) devote his full business
time to the Company to fulfill Executive’s duties hereunder.
As compensation for
Executive’s services to the Company during this period of
time, the Company shall pay Executive his base salary at a
rate equal to $400,000
per annum, payable semi-monthly in accordance with the
Company’s regular payroll practices. The Company shall also
reimburse Executive for reasonable travel, lodging, meals and other
reasonable business expenses incurred in accordance with the
Company’s expense reimbursement policy as then in effect in
accordance with Executive’s performance of services, with
such reimbursements to require pre-approval in writing by the
Company to the extent any single expense exceeds $1,000.
Notwithstanding the above, during the Transition Period, the
Company may terminate Executive’s employment and such payments immediately
(A)
upon Executive’s death or disability (which, herein, shall
have the same meaning as in Section 8(d) of the Employment
Agreement) or (B)
Executive’s termination for Cause (as defined
below).

 

 

1

 

 

(c) First
Reaffirmation Payment. Subject to (i) Executive’s employment
not being terminated for Cause during the Transition Period,
(ii)
Executive’s execution of this Agreement, (iii) Executive’s or, in
the event of his death, Executive’s estate’s due
execution and submission of the First Reaffirmation (as defined in
Section 10), and (iv) Executive’s continued compliance with
the terms hereof, Executive or, in the event of his death, his
estate shall receive a single lump sum payment in the amount of
$400,000. Such payment shall be paid during the period January 1,
2021 through January 5, 2021.

 

(d) Bonus.
Subject to (i)
Executive’s employment not being terminated for Cause during
the Transition Period, (ii) Executive’s execution
of this Agreement, (iii) Executive’s or, in
the event of his death, Executive’s estate’s due
execution and submission of the First Reaffirmation, and (iv)
Executive’s continued compliance with the terms hereof,
Executive will be entitled to a one-time lump sum payment of
$177,776. Such payment shall be paid during the period January 1,
2021 through January 5, 2021.

 

2. Advisory
Services.

 

(a) Term;
Services. During the period beginning on January 1, 2021 and
ending on February 28, 2023 (such period, the “Advisory Period”),
Executive shall continue as an employee of the Company and provide
such advisory services as may be required by the Company from time
to time; provided,
that, if not
earlier terminated, the Advisory Period shall terminate
(i) immediately
upon Executive’s death, (ii) upon the Company’s
termination thereof due to Executive’s disability,
(iii) upon
Executive’s termination for Cause (as defined below), or
(iv) upon
Executive’s resignation upon no less than thirty (30)
days’ prior notice to the Company. For the avoidance of
doubt, upon a termination of the Advisory Period pursuant to
(A) Section 2(a)(i)
[death] or Section 2(a)(ii) [disability], all fees and benefits due
pursuant to Section 2(b) and Section 2(c)(i) shall continue in
accordance therewith as though the Advisory Period had not
terminated (provided, that if the applicable group health plans
prohibit such continued coverage following Executive’s death
or disability, in lieu thereof, Executive and/or his eligible
dependents shall be entitled to additional COBRA coverage pursuant
to Section 2(c)(ii) for the lesser of (x) the duration of the Advisory
Period in addition to the twelve (12) months required by Section
2(c)(ii) and (y)
the maximum period COBRA coverage is permitted under applicable
law, provided, in
each case, that COBRA coverage is timely and properly elected) or
(B) pursuant to
Section 2(a)(iii) [Cause] or Section 2(a)(iv) [resignation], all
fees and benefits due pursuant to Section 2(b) and Section 2(c)(i)
shall immediately cease. During the Advisory Period, the Executive
shall devote such portion of Executive’s business time to the
Company as shall be sufficient to fulfill the Executive’s
duties hereunder, but in no event more than eight (8) hours per
month.

 

(b) Compensation;
Expenses. As compensation for Executive’s services to
the Company during the Advisory Period, the Company shall pay
Executive an advisory fee equal to $215,000 per annum, payable
semi-monthly in accordance with the Company’s regular payroll
practices. The Company shall reimburse Executive for reasonable
travel, lodging, meals and other reasonable business expenses
incurred in accordance with the Company’s expense
reimbursement policy as then in effect in accordance with
Executive’s performance of services under Section 2(a), with
such reimbursements to require pre-approval in writing by the
Company to the extent any single expense exceeds
$1,000.

 

(c) Benefits. 

 

(i) Advisory
Period. During
the Advisory Period, Executive shall be entitled to
continued participation for Executive and his eligible dependents
in the Company’s group medical benefits generally provided to
the Company’s employees, at the Company’s sole expense
and otherwise in accordance with the terms thereof, as may be
amended from time to time. Executive shall be provided information
concerning Executive’s rights to purchase continued coverage
under such plans in accordance with the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (“COBRA”), following the
Advisory Period.

 

(ii) Post-Advisory
Period. If Executive timely elects COBRA continuation
coverage under the Company’s group medical and dental care
plans, the Company shall reimburse Executive for the full cost of
the premiums for such COBRA coverage for Executive and his eligible
dependents for the twelve months immediately following the
termination of the Advisory Period, payable monthly in arrears;
provided,
that, the Company
shall have no further obligation to provide any such reimbursements
upon Executive’s eligibility for corresponding coverage with
a subsequent employer, with Executive’s spouse or with the
employer of Executive’s spouse, or upon a termination for
Cause. The Company’s reimbursement of such premiums will be
taxable as compensation to Executive if and to the extent such
reimbursements would result in the imposition of penalties or taxes
on the Company for the failure to comply with the nondiscrimination
requirements of the Patient Protection and Affordable Care Act of
2010, as amended, and/or the Health Care and Education
Reconciliation Act of 2010, as amended.

 

(d) Indemnification
and Directors and Officers Liability Insurance Coverage. The
Company shall indemnify and provide all other indemnification
rights and benefits (including, without limitation, those relating
to the advancement of expenses) to Executive to the maximum extent
permitted or provided in Article VIII of the Company’s
By-laws as in effect on the date of this Agreement, subject to the
requirement that all fees and expenses incurred by Executive in
connection with indemnification hereunder be reasonable. For the
avoidance of doubt, the Company shall provide directors and
officers liability insurance coverage to Executive at the same
level and general terms and conditions as in effect currently for
the period ending on the sixth (6th) anniversary of the
Resignation Date.

 

 

2

 

 

(e) Termination of
Advisory Period. Upon termination of the Advisory Period and
Executive’s services hereunder, the Company shall pay or
provide to Executive (i) Executive’s accrued
and unpaid advisory fees, earned through the last day of the
Advisory Period, which shall be paid on the first payroll date
immediately following the last day of the Advisory Period;
(ii) reimbursement
for any unreimbursed business expenses that Executive properly
incurred on or prior to the last day of the Advisory Period, which
shall be paid in accordance with the Company’s expense
policy; and (iii)
any accrued and vested benefits available to Executive under the
express terms and conditions of any Company Group employee benefit
plan in which Executive participated immediately prior to the last
day of the Advisory Period, in accordance with the applicable plan.
Effective as of the last day of the Advisory Period, Executive
shall not claim any further right to employment by the Company
Group.

 

(f) Definition of
Cause.  For
purposes of this Agreement, “Cause” shall mean
(i) Executive
engaging in dishonesty or other misconduct that, in either case, is
materially injurious to the Company, (ii) Executive’s
commission of, and being charged with the commission of, a felony
involving the Company, (iii) Executive’s failure
to materially comply with Section 7 [Cooperation] of this Agreement
or (iv) a material
breach by Executive of this Agreement, including failure to comply
with the restrictive covenants incorporated herein pursuant to
Section 5(a), that is materially injurious to the Company, provided
that such breach (A) shall not have been cured by
Executive within 30 days after detailed written notice thereof from
the Company to Executive that is delivered to Executive within 30
days after the Board of Directors obtains actual knowledge of such
alleged material breach or (B) is incapable of being cured.
Notwithstanding the foregoing, Cause shall not be based on any
conduct engaged in by Executive that relates to the facts and
circumstances at issue in Securities and Exchange Commission v.
Christopher J. Spencer et al., 19 Civ. 9070 (NRB) (S.D.N.Y.)
(the “SEC
Claim”). Notwithstanding the foregoing, Executive
shall not be deemed to have been terminated for Cause unless and
until there shall have been delivered to Executive a copy of a
resolution, duly adopted by the unanimous affirmative vote of the
entire membership of the Company’s Board of Directors at a
meeting of the Board of Directors called and held for the purpose
(after thirty (30) days’ prior written notice to Executive
and an opportunity of him, together with his counsel, to be heard
before the Board of Directors), finding that in the good faith
opinion of the Board of Directors Executive is guilty of conduct
set forth in clauses (i), (ii), or (iii) of this Section 2(f) and
specifying the particulars thereof in detail. The Company covenants
and agrees that the Board of Directors shall be comprised of at
least five (5) members.

 

3. Equity.

 

(a) Performance
Shares. Pursuant to the Stock Agreements between the Company
and Executive listed on Annex A hereto, Executive has
been granted an aggregate of 2,600,000 shares of the
Company’s common stock subject to certain performance vesting
milestones and forfeiture provisions (the “Performance Shares”). In
addition to the Performance Shares, Executive owns 228,795 shares
of the Company’s common stock (the “Previously Owned
Shares”).

 

(i) Vested Performance
Shares and Previously Owned Shares. The Company and
Executive agree that as of the date of this Agreement, 1,125,000
Performance Shares were vested with Executive in accordance with
their terms (the “Vested Performance
Shares”). Executive shall sell the Vested Performance
Shares and the Previously Owned Shares (totaling 1,353,795 shares)
to the Company for a purchase price equal to $3.00 per Share, or an
aggregate of $4,061,385 (the “Vested Share Price”),
payable to Executive by the Company in a single lump sum on the
date Executive executes this Agreement. Following Executive’s
receipt of the Vested Share Price, Executive shall deliver any
certificate(s) registered in Executive’s name representing
the Vested Performance Shares and the Previously Owned Shares, as
well as such other documentation as may be required by the Company
or its counsel to effectuate the transfer, and Executive shall have
no further right, title or interest in the Vested Performance
Shares and the Previously Owned Shares.

 

(ii) NASDAQ
Tranche. The Company and Executive agree that 225,000
Performance Shares (the “NASDAQ Shares”) shall
vest upon Executive’s execution of this Agreement. Executive
hereby covenants and agrees that Executive shall not, directly or
indirectly sell, make any short sale of, loan, hypothecate, pledge,
offer, grant or sell any option or other contract for the purchase
of, purchase any option or other contract for the sale of, or
otherwise dispose of or transfer, or agree to engage in any of the
foregoing transactions with respect to, the NASDAQ Shares. Such
restrictions on the NASDAQ Shares shall remain in effect until the
first to occur of (i) July 31, 2021, (ii) an uplisting by the Company
to a national exchange, (iii) a Change of Control (as
defined below), (iv) the Company’s
declaration or any public announcement of a stock dividend,
secondary offering or rights offering, and (v) the declaration or
any public announcement of the Company’s raising of capital
in exchange for equity of the Company at below fair market
value.

 

(iii) $7.00
Shares. Notwithstanding the performance targets set forth in
that certain Stock Agreement dated December 15, 2017, 550,000
Performance Shares (the “$7.00 Shares”) shall vest
upon Executive’s execution of this Agreement. Executive
hereby covenants and agrees that, except for the Put Right (as
defined in Section 3(a)(iv)), Executive shall not, directly or
indirectly sell, make any short sale of, loan, hypothecate, pledge,
offer, grant or sell any option or other contract for the purchase
of, purchase any option or other contract for the sale of, or
otherwise dispose of or transfer, or agree to engage in any of the
foregoing transactions with respect to, the $7.00 Shares. Such
restrictions on the $7.00 Shares shall remain in effect until the
first to occur of (i) January 5, 2021,
(ii) an uplisting
by the Company to a national exchange, (iii) a Change of Control,
(iv) the
Company’s declaration or any public announcement of a stock
dividend, secondary offering or rights offering, and (v) the
declaration or any public announcement of the Company’s
raising of capital in exchange for equity of the Company at below
fair market value.

 

 

3

 

 

(iv) Put
Option. During
the period beginning on the earlier of (A) December 30, 2020 and
(B) any earlier
date on which the Company declares a rights offering and ending on
the one-year anniversary of Section 3(a)(iv)(A) or (B) , Executive
shall have the right to put the $7.00 Shares to the Company at a
purchase price of $2.50 per Share (the “Put Right”); provided, that each and every
exercise of the Put Right by the Executive must be for at least
100,000 of the $7.00 Shares. To exercise the Put Right, Executive
shall notify the Company in writing of his intent to exercise the
Put Right and the number of $7.00 Shares he wishes to sell to the
Company (the “Put
Shares,” together with the Vested Performance Shares,
the “Repurchased
Shares”). Within 30 days following the Company’s
receipt of notice of exercise of the Put Right, the Company shall
pay Executive an amount equal to the product of (i) $2.50 and (ii) the number [minimum
100,000] of Put Shares (such amount, the “Put Price”). Following
Executive’s receipt of the Put Price, Executive shall deliver
any certificate(s) registered in Executive’s name
representing the Put Shares, as well as any documentation as may be
reasonably required by the Company or its counsel to effectuate the
transfer, and Executive shall have no further right, title or
interest in the Put Shares.

 

(v) Forfeiture of
Nonvested Shares. The Company and Executive agree that
pursuant to that (A) certain Stock Agreement,
dated December 15, 2017, 550,000 Performance Shares were forfeited
without consideration due to the Company’s per share closing
price failing to reach an average of $5.00 per share for any 10
consecutive days by June 15, 2020 and (B) pursuant to that certain
Settlement Agreement, dated on or about October 4, 2019, among the
Company and Camac Fund, LP and its affiliates, Executive agreed to
forfeit 150,000 Performance Shares (such 700,000 forfeited
Performance Shares together, the “Forfeited Performance
Shares”). Within thirty (30) days of Executive’s
execution of this Agreement, Executive shall deliver any
certificate(s) registered in Executive’s name representing
the Forfeited Performance Shares, as well as any documentation as
may be reasonably required by the Company or its counsel to
effectuate the forfeiture, and Executive shall have no further
right, title or interest in the Forfeited Performance
Shares.

 

(vi) Definition
of Change of Control. For purposes of this Agreement,
“Change of Control” means the occurrence of the
acquisition by any Person or “group” (as defined in
section 13(d) of the Securities Exchange Act of 1934, as amended
from time to time), other than by (A) the Company or any of its
Affiliates or (B)
any employee benefit plan of the Company or any of its Affiliates,
through one transaction or a series of transactions of
(i) more than 50%
of the combined voting power of the then outstanding voting
securities of the Company or (ii) all or substantially all of
the assets of the Company. Notwithstanding the foregoing, a
“Change of Control” shall not be deemed to occur if the
Company files for bankruptcy, liquidation or reorganization under
the United States Bankruptcy Code.

 

(b) Executive
Representations and Warranties.

 

(i) Enforceability.
Executive has duly executed and delivered this Agreement and it
constitutes Executive’s binding obligation, enforceable in
accordance with its terms, except as limited by applicable
bankruptcy, insolvency, reorganization or other similar laws
relating to creditors’ rights and general principles of
equity affecting the availability of specific performance and other
equitable remedies, now or hereafter in effect. Except as
previously obtained, Executive does not need to give any notice to,
make any filing with or obtain any approval of any court,
governmental authority or third person in order to consummate the
sale of Shares to the Company contemplated by this
Agreement.

 

(ii) No
Conflicts. Neither the execution and the delivery of this
Agreement, nor the consummation of the transactions contemplated
hereby, will (i)
violate any laws or other restriction of any governmental authority
or court to which Executive is subject or (ii) conflict with, result in a
breach of, constitute a default under, result in the acceleration
of, create in any party the right to accelerate, terminate, modify
or cancel, or require any notice under, any lease, mortgage, loan,
agreement, instrument or other arrangement to which Executive is a
party, by which Executive is bound, or to which Executive’s
Shares are subject.

 

(iii) Ownership
of Shares. Executive is the record owner of the Repurchased
Shares and holds such Shares free of any encumbrances. Except for
this Agreement, Executive is not a party to any option, purchase
right, warrant or other commitment or contract that could require
Executive to pledge, sell, transfer or otherwise dispose of
Executive’s Shares or any other capital stock of the
Company.

 

(iv) Capacity.
Executive has the legal power and right to enter into and perform
this Agreement and to sell and transfer good title to the
Repurchased Shares and all Forfeited Shares free of any
encumbrances in accordance with the terms of this
Agreement.

 

(v) Title. Upon
consummation of the sale transactions this Agreement contemplates
and in accordance with the terms hereof, the Company will acquire
good title to the Repurchased Shares and all Forfeited Shares free
of all encumbrances.

 

(vi) Disclosure.
To Executive’s actual (and not constructive) knowledge,
(A) the
Company’s financial statements are accurate in all material
respects and (B)
the Company’s financial statements, and all other agreements,
certificates, statements or documents furnished by Executive to or
on behalf of the Company do not (I) contain any untrue statement
of a material fact or (II) omit to state a material
fact required to be stated therein to make the statements therein
not misleading.

 

(c) Executive’s
Purchased Shares. The Company and Executive agree that,
Executive has acquired an aggregate of 228,795 shares of the
Company’s stock to date (the “Held Shares”), excluding
the Performance Shares. Executive warrants that the Held Shares,
together with the Performance Shares, represent Executive’s
entire equity ownership interest in the Company, and Executive does
not, directly or indirectly, otherwise hold any shares of Company
stock.

 

 

4

 

 

4. Cessation of
Payments and Benefits. Executive acknowledges that the
consideration set forth in this Agreement is not otherwise due to
him, and that the Company is providing such consideration to
Executive in exchange for Executive's agreements and promises set
forth in this Agreement. If Executive (a) materially breaches any
provision of this Agreement, including, but not limited to, the
provisions of the Employment Agreement incorporated herein by
reference pursuant to Section 5(a), and such breach has not been
cured (if curable) within the time periods proscribed under Section
2(f) and results in material injury to the Company, as determined
by final judgment of a court of competent jurisdiction or
(b) fails to
materially comply with the cooperation provisions set forth in
Section 7 of this Agreement, then (c) the Company will not be
obligated to provide such payments or benefits to the extent that
any portion thereof have yet to be paid or provided.

 

5. Employment
Agreement; Certain Acknowledgements.

 

(a) Employment
Agreement. The Parties hereby agree that, effective as of
the Resignation Date, the Employment Agreement shall terminate in
all respects and be of no further force or effect. Notwithstanding
the foregoing sentence, Sections 12 and 13 of the Employment
Agreement are incorporated by reference herein and made a part
hereof, and as so incorporated, shall remain in full force and
effect in accordance with their terms. For the avoidance of doubt,
for purposes of the restrictive covenants, Executive shall be
employed by the Company from the Resignation Date until the end of
the Advisory Period. The Parties agree that the consideration set
forth in this Agreement is sufficient consideration for the
restrictions set forth in Section 12 of the Employment Agreement,
and for purposes of Section 12, no payment was or is required under
Section 9 or Section 10 of the Employment Agreement due to
Executive’s voluntary resignation.

 

(b) Certain
Acknowledgements. Executive hereby acknowledges and agrees
that, except as expressly set forth herein or as required by law,
neither Executive nor his spouse or dependents will be entitled to
or make a claim for any other compensation or benefits from any
member of the Company Group, including, without limitation, any
rights to any bonus payments, separation payments, continued group
health benefits or accelerated equity vesting under the Employment
Agreement or otherwise, and Executive hereby agrees that, except as
expressly set forth herein or as required by law, Executive will
have no further interest, rights or benefits arising out of or in
connection with the Employment Agreement or in respect of
Executive’s employment or separation from employment with the
Company Group.

 

6. General
Release.

 

(a) Release of Claims
by Executive. Executive, on behalf of himself and his
family, agents, representatives, heirs, executors, trustees,
administrators, attorneys, successors and assigns (collectively,
the “Executive
Release Parties”), hereby irrevocably and
unconditionally releases, waives, settles, cancels, acquits and
discharges, the Company Group and each of its members’
respective current and former subsidiaries, affiliates, successors
and assigns, and with respect to each of them, their respective
predecessors, stockholders, partners, members, directors, managers,
officers, employees, attorneys, insurers, agents or other
representatives, and each employee benefit plan of the Company
Group (including current and former trustees and administrators of
any such plans) (collectively, the “Company Release Parties”)
from any and all claims (contractual or otherwise), demands, costs,
expenses, rights, causes of action, charges, attorneys’ fees,
debts, liens, promises, obligations, complaints, suits, losses,
damages and all liability of whatever kind and nature, whether
known or unknown, legal or equitable, suspected or unsuspected,
fixed or contingent, that the Executive Release Parties have, may
have or ever have had, or that otherwise may exist or may arise,
against any of the Company Release Parties, by reason of any act,
obligation, transaction, practice, conduct, statement, occurrence
or other matter, from the beginning of time up to and including the
date of this Agreement, in connection with, arising out of, or
relating directly or indirectly to, Executive’s employment or
separation from employment with the Company Group, or in any way
connected with or related to any Company Group compensatory or
benefit plan, program, policy or arrangement, including, without
limitation, the Employment Agreement. Notwithstanding the foregoing
or anything contained in this Agreement to the contrary, and for
the avoidance of doubt, nothing in this Agreement is intended to,
nor shall it be construed to: (1) release or waive any right
of the Executive to enforce Executive’s rights under this
Agreement; (2)
release or waive any claims to the extent such claims cannot be
released by applicable law; (3) release or waive any right
or claim to indemnification and/or contribution Executive may have
pursuant to this Agreement, applicable law, the Company’s
governance instruments or otherwise for acts committed during the
scope of Executive’s employment with the Company and other
affiliations with the Company Group; (4) release or waive any
coverage, if any, under any Company liability insurance policy; or
(5) release or
waive any right Executive may have to a vested benefit under any
retirement or welfare plan of the Company. For the purpose of
implementing a full and complete release and discharge of the
Company Release Parties, Executive (on behalf of himself and the
Executive Release Parties) expressly acknowledges that this
Agreement is intended to include in its effect, without limitation,
all released claims that Executive does not know or suspect to
exist in his favor at the time of execution hereof, and that this
Agreement contemplates the extinguishment of any and all released
claims.

 

 

5

 

 

(b) Covenant Not to
Sue; Certain Proceedings. Executive, on behalf of himself
and the Executive Release Parties, covenants and agrees not to
institute, or cause to be instituted, directly or indirectly, any
action, suit or proceeding whatsoever (including the initiation of
governmental proceedings or investigations of any type) against any
of the Company Release Parties for any matter or circumstance
concerning which the Executive Release Parties have released the
Company Release Parties under this Agreement. Further, the
Executive Release Parties agree not to encourage or suggest to any
other person or entity that he, she or it institute any legal
action against the Company Release Parties. Notwithstanding the
foregoing, this release is not intended to interfere with
Executive’s right to file a charge or complaint with the
Equal Employment Opportunity Commission, the National Labor
Relations Board, the Occupational Safety and Health Administration,
the Securities and Exchange Commission or any other federal, state
or local governmental agency or commission or self-regulatory
organization (the “Government Agencies”),
and does not limit Executive’s ability to communicate with
the Government Agencies or otherwise participate in any
investigation or proceeding that may be conducted by any Government
Agency, including providing documents or other information, without
notice to the Company Group.

 

(c) Extent of
Release. This release by Executive is valid whether any
claim arises under any federal, state or local statute (including,
without limitation, Title VII of the Civil Rights Act of 1964, the
Civil Rights Act of 1991, the Age Discrimination in Employment Act
of 1967, as amended by the Older Workers Benefits Protection Act of
1990, the Equal Pay Act, the Americans with Disabilities Act of
1990, the Employee Retirement Income Security Act of 1974, the Fair
Labor Standards Act, the Family and Medical Leave Act, the
Pennsylvania Constitution, the Pennsylvania Human Rights Act, the
Pennsylvania Wage and Hour Law, the Florida Constitution, the
Florida Civil Rights Act, the Florida Whistleblower Protection Act,
the Florida Workers’ Compensation Retaliation provision
(§ 440.205, Fla. Stat.), and all other statutes regulating the
terms and conditions of Executive’s employment), regulation
or ordinance, under the common law or in equity (including any
claims in tort or under contract for wrongful discharge or
otherwise), or under any policy, agreement, understanding or
promise, written or oral, formal or informal, between the Company
Group or any affiliate of a member of the Company Group, and
Executive.

 

(d) Release of Claims
by the Company. The Company hereby irrevocably and
unconditionally releases, waives, settles, cancels, acquits and
discharges, Executive from any and all claims (contractual or
otherwise), demands, costs, expenses, rights, causes of action,
charges, attorneys’ fees, debts, liens, promises,
obligations, complaints, suits, losses, damages and all liability
of whatever kind and nature, whether known or unknown, legal or
equitable, suspected or unsuspected, fixed or contingent, that the
Company has, may have or ever has had, or that otherwise may exist
or may arise, against Executive by reason of any act, obligation,
transaction, practice, conduct, statement, occurrence or other
matter, from the beginning of time up to and including the date of
this Agreement, in connection with, arising out of, or relating
directly or indirectly to, the SEC Claim. The Company covenants and
agrees not to institute, or cause to be instituted, directly or
indirectly, any action, suit or proceeding whatsoever (including
the initiation of governmental proceedings or investigations of any
type) against Executive in respect of the SEC Claim. Further, the
Company agrees not to encourage or suggest to any other person or
entity that he, she or it institute any legal action against the
Executive in respect of the SEC Claim. As of the time of its
execution of this Agreement, the Company does not (i) have knowledge of any claim
against Executive or (ii) intend to bring any claim
against Executive.

 

7. Cooperation.
Following the Resignation Date and continuing until the termination
of the Advisory Period:

 

(a) Executive agrees to
reasonably cooperate with the Company in effecting a smooth
transition of the duties and responsibilities that Executive
performed for the Company Group. Executive agrees to be reasonably
available to respond to requests or questions (by phone or e-mail)
in connection with any reasonable request by the Company regarding
matters of which Executive has personal knowledge or which were
within the purview of Executive’s job
responsibilities.

 

(b) Executive agrees to
reasonably cooperate with the Company Group in assisting in the
defense of any existing or future charges, claims, demands,
complaints, subpoenas, government investigations, arbitrations or
lawsuits filed against the Company, including any of its related or
affiliated companies, parent companies, or subsidiaries, or in the
prosecution of any claim, demand, complaint, arbitration or lawsuit
filed by a member of the Company Group against any person or entity
(collectively, “Company Actions”), where
Executive, during Executive’s employment with the Company
Group, had involvement in or knowledge of any decision, negotiation
or other process or procedure that is the subject of any of the
Company Actions, where Executive had previously participated in the
defense of any of the Company Actions, or where it is alleged that
Executive has knowledge of any facts at issue in any of the Company
Actions. Executive’s cooperation shall include, but not be
limited to, meeting with the Company’s counsel and providing
sworn statements and testimony as, where and when reasonably
requested. Executive agrees that Executive shall not be entitled to
any further payments or compensation for providing such
cooperation. In the event of any material failure by Executive to
comply with this Section 7(b), or any instance of Executive’s
material dishonesty or failure to be truthful with regard to any
Company Action or otherwise, Executive will not be entitled to the
payments or benefits described herein.

 

8. Return
of Company Property; Nondisparagement.

 

(a) Return
of Company Property. Following the Resignation Date,
Executive shall immediately return to the Company all property
belonging to the Company and all copies of such property in
Executive’s possession or under
Executive’s control, including, but not limited to, all keys,
ID cards or badges, access codes, credit cards, software,
electronically-stored documents or files, physical files, and any
and all other property or proprietary or confidential information
of the Company Group. Executive shall not delete, remove, or
destroy any property or materials belonging to the Company, nor
shall Executive retain any Company property or materials, without
the express written permission of the Company’s Board of
Directors or the Company’s counsel. Notwithstanding the
foregoing or any other provision of this Agreement, Executive shall
be entitled to retain, and as of the Resignation Date shall have
all right, title and interest in, all equipment that the Company
provided to Executive for his personal use during his employment
that is currently in his possession, including, without limitation,
a mobile telephone, a laptop computer, and any other hand-held
electronic devices, provided that Executive shall cooperate with
the Company to remove from all such equipment and devices any and
all data owned by the Company.

 

 

6

 

 

(b) Nondisparagement.
Executive shall not at any time say, write or cause to be said or
written (including through social media), directly or indirectly,
any statement that may be considered defamatory, derogatory, or
disparaging with respect to the Company or its employees, officers,
or directors whom are known by Executive to serve in any such
capacity. The Company, through its
officers and directors, shall not at any time say, write or cause
to be said or written (including through social media), directly or
indirectly, any statement that may be considered defamatory,
derogatory, or disparaging with respect to Executive, other than in
connection with ordinary performance evaluations. This Section does
not apply to factual statements made in connection with legal
proceedings, governmental and regulatory investigations and
actions, other statements required by law and statements relating
to the Company’s business made in good faith to members of
the Company’s Board of Directors.

 

9. Consideration;
Legal Advice, Reliance. The consideration provided hereunder
by the Company Group is not required under the Company
Group’s standard policies, and Executive knows of no other
circumstances other than Executive’s agreeing to the terms of
this Agreement that would require the Company Group to provide such
consideration. Executive represents and acknowledges that
(a) Executive has
been given adequate time (at least twenty-one (21) days) to
consider this Agreement (which, by signing this Agreement prior to
the expiration of such period, Executive has expressly agreed to
waive) and has been advised to discuss all aspects of this
Agreement with Executive’s private attorney, (b) Executive has carefully read
and fully understands all the provisions of this Agreement,
(c) Executive has
voluntarily entered into this Agreement, without duress or coercion
and (d) Executive
has not heretofore assigned or transferred or purported to assign
or transfer, to any person or entity, any of the claims described
in Section 6, any portion thereof or any interest therein.
Executive understands that if Executive requests additional time to
review the terms of this Agreement, a reasonable extension of time
will be granted.

 

10. Reaffirmation.
In exchange for the payments and benefits and other good and
valuable consideration contained herein, Executive shall sign and
deliver to the Company a reaffirmation of his release of claims
(each, a “Reaffirmation”), within
10 days after each of (a) December 15, 2020 (the
“First
Reaffirmation”) and (b) the last day of the Advisory
Period (the “Second
Reaffirmation”), in each case, in the form attached
hereto as Exhibit
B.

 

11. Miscellaneous.

 

(a) Interest on Late
Payments. Amounts due to Executive hereunder but not paid on
a timely basis in accordance with of the applicable due date set
forth in this Agreement shall be subject to interest, which shall
accrue at the rate of 6.5 percent (6.5%) per annum (pro rata)
accruing immediately from the due date; provided, that Executive shall
provide written notice to the Company within thirty (30) days
following the due date notifying the Company of such overdue
payment. If the Company fails to pay a material overdue payment
within thirty (30) days after written notice thereof by Executive,
all payments otherwise not yet due hereunder shall become
immediately due and payable on such thirtieth (30th) day and
subject to the interest provisions of this Section.

 

(b) Board
Consents. The
Company represents that it has obtained the written consent of the
Board of Directors (i) approving the terms of this
Agreement and its execution and (ii) authorizing the President
or the Chief Financial Officer, or any single director, to make or
authorize the making of all payments duly accruing hereunder in a
timely manner.

 

(c) Taxes. All
payments or benefits provided under this Agreement are subject to
any applicable employment or tax withholdings or
deductions.

 

(d) Section 409A
Provisions. All payments and benefits under this Agreement
shall be made and provided in a manner that is intended to comply
with, or be exempt from, Section 409A (“Section 409A”) of the
Internal Revenue Code of 1986, as amended (the “Code”), to the extent
applicable. Notwithstanding any provision in this Agreement to the
contrary:

 

(i) The payment (or
commencement of a series of payments) hereunder of any
“nonqualified deferred compensation” (within the
meaning of Section 409A) upon a termination of employment
shall be delayed until such time as Executive has also undergone a
“separation from service” as defined in U.S. Treasury
Regulation Section 1.409A-1(h), at which time such
“nonqualified deferred compensation” (calculated as of
the last day of the Advisory Period) shall be paid (or commence to
be paid) to Executive on the schedule set forth in this Agreement
as if Executive had undergone such termination of employment (under
the same circumstances) on the date of his ultimate
“separation from service.” Any payment otherwise
required to be made hereunder to Executive at any date as a result
of the termination of Executive’s employment shall be delayed
for such period of time as may be necessary to meet the
requirements of Section 409A(a)(2)(B)(i) of the Code
(the “Delay
Period”) in the event that Executive is deemed at the
time of his “separation from service” to be a
“specified employee” (in each case, within the meaning
of Section 409A) and if such delay is otherwise required to
avoid additional tax under Section 409A(a)(2) of the Code. In
such event, on the first business day following the expiration of
the Delay Period, Executive shall be paid, in a single lump sum
cash payment, an amount equal to the aggregate amount of all
payments delayed pursuant to the preceding sentence, and any
remaining payments not so delayed shall continue to be paid
pursuant to the payment schedule set forth herein.

 

 

7

 

 

(ii) Each
payment in a series of payments hereunder shall be deemed to be a
separate payment for purposes of Section 409A.

 

(iii) To
the extent that any right to reimbursement of expenses or payment
of any benefit in-kind under this Agreement constitutes
“nonqualified deferred compensation” (within the
meaning of Section 409A), (A) any such expense
reimbursement shall be made by the Company no later than the last
day of the taxable year following the taxable year in which such
expense was incurred by Executive, (B) the right to
reimbursement or in-kind benefits shall not be subject to
liquidation or exchange for another benefit, and (C) the amount of expenses
eligible for reimbursement or in-kind benefits provided during any
taxable year shall not affect the expenses eligible for
reimbursement or in-kind benefits to be provided in any other
taxable year; provided that the foregoing
clause shall not be violated with regard to expenses reimbursed
under any arrangement covered by Section 105(b) of the Code
solely because such expenses are subject to a limit related to the
period during which the arrangement is in effect.

 

(iv) While
the payments and benefits provided hereunder are intended to be
structured in a manner to avoid the implication of any penalty
taxes under Section 409A, in no event whatsoever shall the
Company or any of its affiliates be liable for (A) any
additional tax, interest or penalties that may be imposed on
Executive as a result of Section 409A or (B) any damages
for failing to comply with Section 409A (other than for
withholding obligations or other obligations applicable to
employers, if any, under Section 409A).

 

(e) Severability.
If any provision of this Agreement, or any part thereof, is held by
a court of competent jurisdiction to be invalid, void,
unenforceable or against public policy for any reason, this
Agreement shall be construed without such term or condition and the
remainder of the Agreement shall remain in full force and effect
and shall not be affected, impaired or invalidated. If any court
construes any provision contained in this Agreement to be
unenforceable by reason of being overbroad, such court may reduce
the breadth of such provision to the minimum extent necessary to
render it enforceable and, in its reduced form, such provision
shall then be enforced.

 

(f) Entire Agreement;
Amendment; Waiver. This Agreement constitutes the entire
understanding and agreement between the parties and supersedes and
cancels all previous agreements and commitments, whether oral or
written, in connection with the matters described herein,
including, without limitation, the Employment Agreement (except to
the extent directly incorporated in Section 5(a) above). In
executing this Agreement, Executive is not relying, and has not
relied, upon any oral or written representations or statements not
set forth or referred to herein. No waiver or termination of this
Agreement shall be binding unless it is in writing and signed by
the parties hereto. No failure to insist upon compliance with any
term or condition of this Agreement, whether by conduct or
otherwise, shall be deemed to be or construed to be a waiver of
such term or condition.

 

(g) Assignment.
The rights and benefits of the Company under this Agreement shall
be assignable to any successor or affiliated entity of the Company.
All rights and obligations hereunder shall inure to the benefit of
and be binding upon the Company’s successors and assigns, but
shall not be assignable by Executive.

 

(h) Arbitration. The
Parties hereby agree that, to the fullest extent permitted by law,
any and all claims or controversies relating in any manner to this
Agreement (each, a “Claim”) shall be resolved
by final and binding arbitration conducted in accordance with the
Employment Arbitration Rules of the American Arbitration
Association (the “AAA Rules”) and this
Section 11(h). A neutral and impartial arbitrator shall be chosen
by mutual agreement of the parties to the arbitration; however, if
Executive and the other parties to the arbitration are unable to
agree upon an arbitrator within thirty (30) days, then a neutral
and impartial arbitrator shall be appointed in accordance with the
arbitrator nomination and selection procedure set forth in the AAA
Rules. The arbitrator shall prepare a written decision containing
the essential findings and conclusions on which the award is based
so as to ensure meaningful judicial review of the decision. The
arbitrator shall apply the same substantive law, with the same
statutes of limitations and the same remedies, as would apply if
the Claims were brought in a court of law. The arbitrator shall
have the authority to consider and decide pre-hearing motions,
including dispositive motions. All arbitration hearings under this
Agreement shall be conducted in New York, New York. An action may
be brought in any court to compel arbitration under this Agreement
and to enforce an arbitration award. Except as otherwise provided
in this Agreement, no Party shall initiate or prosecute any lawsuit
in any way related to any arbitrable claim, including without
limitation, any claim as to the making, existence, validity, or
enforceability of the agreement to arbitrate. The fees of the
arbitrator and all other costs that are unique to the arbitration
process shall be paid by the Company subject to the arbitrator
reallocating or awarding up to one-half of the costs and fees of
the arbitration to the Company if the Company prevails in the
arbitration.

 

(i) Attorneys’
Fees and Costs.  If Executive brings any action or
commences any proceeding to enforce payment under this Agreement,
the non-prevailing party in such action or proceeding shall
reimburse the prevailing party for all reasonable attorneys’
fees and costs, (including arbitration and court costs and
disbursements) incurred in such action or proceeding, at trial, in
any bankruptcy proceeding and on appeal.

 

 

8

 

 

(j) Interpretation.
This Agreement shall be construed without regard to any presumption
or other rule requiring construction against the party causing this
Agreement to have been drafted. The language of all parts of this
Agreement shall in all cases be construed as a whole according to
its fair meaning, and not for or against either of the parties. The
Section headings used in this Agreement are intended solely for
convenience of reference and shall not in any manner amplify,
limit, modify or otherwise be used in the interpretation of any of
the provisions hereof.

 

(k) Further
Action. Each of the
parties shall, for no further consideration, use good faith efforts
to perform all such other actions and execute, acknowledge, and
deliver and cause to be executed, acknowledged and delivered such
other documents or may be reasonably required to effectuate the
intent of the parties as reflected in this Agreement.

 

(l) Third Party
Beneficiaries. All Company Release Parties and Executive
Release Parties who are not signatories to this Agreement shall be
deemed to be third party beneficiaries of the respective releases
set forth in Section 6 hereof.

 

(m) Counterparts.
This Agreement may be executed in counterparts, each of which shall
be deemed an original, but all of which taken together shall
constitute one and the same instrument. A signed copy of this
Agreement delivered by facsimile, e-mail, or other means of
electronic transmission shall be deemed to have the same legal
effect as delivery of an original signed copy of this
Agreement.

 

[Signature Page
Follows]

 

 

 

9

 

 

 

IN WITNESS WHEREOF,
the parties below have executed this Separation and Transition
Services Agreement and General Release.

 

 

 

 

COMPANY:

 

LIBERATED
SYNDICATION INC.

 

	
By: /s/ Laurie Ann
Sims

	
Date: _7/31/2020

	
Name: Laurie Ann
Sims

	
 

	
Title:
President

	
 

	
 

	
 

	
EXECUTIVE:

	
 

	
 

	
 

	
/s/ Christopher
Spencer 

	
Date: _7/31/2020

	
CHRISTOPHER
SPENCER

	
 

 

 

 

 

10

 

 

EXHIBIT A

 

EXHIBIT A

 

Stock Agreements

 

	

Date of Agreement

	

Target

	

Number of Shares Subject to Award

	

Vested

	

Forfeited

	

Unvested

	

Forfeit Date

	

April 13, 2017, as amended on March 15, 2019

	

$25 million

	

375,000

	

375,000

	

0

	

0

	

April 13, 2018

	

$50 million

	

375,000

	

375,000

	

0

	

0

	

October 13, 2018

	

$75 million

	

375,000

	

375,000

	

0

	

0

	

September 15, 2020

	

NASDAQ

	

375,000

	

0

	

150,000

	

225,000

	

September 15, 2020

	

December 15, 2017

	

$5/sh

	

550,000

	

0

	

550,000

	

0

	

June 15, 2020

	

$7/sh

	

550,000

	

0

	

0

	

550,000

	

December 15, 2020

	

Total

	
 

	

2,600,000 

	

1,125,000

	

700,000

	

775,000

	
 

 

 

 

 

11

 

  

EXHIBIT B

 

Reaffirmation

 

I, on
behalf of myself and the Executive Release Parties, hereby ratify
and reaffirm (the “Reaffirmation”), as of
the date set forth below my name, the release, as set forth in
Section 6 of that Separation and Transition Services Agreement and
General Release, dated as of July 30, 2020 between me and Liberated
Syndication Inc. (the “Agreement”). I understand
that this Reaffirmation means that the matters released in Section
6 of the Agreement shall now apply to all matters through the date
that I sign this Reaffirmation. Terms used in this Reaffirmation
but not defined herein shall have the meanings ascribed thereto in
the Agreement.

 

/s/ Christopher
Spencer

Christopher
Spencer

 

         Date:____7/31/2020___________

 

 

 

12EX-4.1

 Exhibit 4.1 

UNIVEST FINANCIAL CORPORATION 

AS ISSUER 
 AND 

U.S. BANK NATIONAL ASSOCIATION 

AS TRUSTEE 
 INDENTURE

 DATED AS OF AUGUST 5, 2020 

SUBORDINATED DEBT SECURITIES 

 CROSS-REFERENCE SHEET* 

Provisions of Sections 310 through 318 of the Trust Indenture Act of 1939, as amended, and the within Indenture between Univest Financial
Corporation and U.S. Bank National Association, Trustee: 
  

			
	SECTION OF ACT	  	SECTION OF INDENTURE
	310(a)(1) and (2)	  	7.09
	310(a)(3) and (4)	  	Not applicable
	310(b)	  	7.08 and 7.10
	311(a) and (b)	  	7.13
	312(a)	  	5.01 and 5.02(a)
	312(b) and (c)	  	5.02(b) and (c)
	313(a)	  	5.04(a)
	313(b)(1)	  	Not applicable
	313(b)(2)	  	5.04(b)
	313(c)	  	5.04(c)
	313(d)	  	5.04(d)
	314(a)	  	5.03
	314(b)	  	Not applicable
	314(c)(1) and (2)	  	14.04
	314(c)(3)	  	Not applicable
	314(d)	  	Not applicable
	314(e)	  	15.05
	314(f)	  	Not applicable
	315(a), (c) and (d)	  	7.01
	315(b)	  	7.14
	315(e)	  	6.14
	316(a)(1)	  	6.12
	316(a)(2)	  	Omitted
	316(a) last sentence	  	8.04
	316(b)	  	6.08
	317(a)	  	6.03 and 6.04
	317(b)	  	4.03(a)
	318(a)	  	15.07

  

	*	 This Cross-Reference Sheet is not part of the Indenture. 

 TABLE OF CONTENTS 

 

									
	 ARTICLE 1 DEFINITIONS
	  	 	1	 
		 	 Section 1.01
	 	 Definitions
	  	 	1	 
		
	 ARTICLE 2 ISSUE, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES
	  	 	5	 
		 	 Section 2.01
	 	 Amount Unlimited; Issuable in Series
	  	 	5	 
		 	 Section 2.02
	 	 Form of Trustee’s Certificate of Authentication
	  	 	5	 
		 	 Section 2.03
	 	 Form of Securities Generally; Establishment of Terms of Series
	  	 	5	 
		 	 Section 2.04
	 	 Securities in Global Form
	  	 	8	 
		 	 Section 2.05
	 	 Denominations; Record Date; Payment of Interest
	  	 	8	 
		 	 Section 2.06
	 	 Execution, Authentication, Delivery and Dating of Securities
	  	 	9	 
		 	 Section 2.07
	 	 Exchange and Registration of Transfer of Securities
	  	 	11	 
		 	 Section 2.08
	 	 Temporary Securities
	  	 	13	 
		 	 Section 2.09
	 	 Mutilated, Destroyed, Lost or Stolen Securities and Coupons
	  	 	15	 
		 	 Section 2.10
	 	 Cancellation
	  	 	15	 
		 	 Section 2.11
	 	 Book-Entry Only System
	  	 	16	 
		
	 ARTICLE 3 REDEMPTION OF SECURITIES
	  	 	16	 
		 	 Section 3.01
	 	 Redemption of Securities; Applicability of Section
	  	 	16	 
		 	 Section 3.02
	 	 Notice of Redemption; Selection of Securities
	  	 	16	 
		 	 Section 3.03
	 	 Payment of Securities Called for Redemption
	  	 	17	 
		 	 Section 3.04
	 	 Redemption Suspended During Event of Default
	  	 	18	 
		
	 ARTICLE 4 PARTICULAR COVENANTS OF THE COMPANY
	  	 	18	 
		 	 Section 4.01
	 	 Payment of Principal, Premium and Interest
	  	 	18	 
		 	 Section 4.02
	 	 Offices for Notices and Payments, etc.
	  	 	18	 
		 	 Section 4.03
	 	 Provisions as to Paying Agent
	  	 	19	 
		 	 Section 4.04
	 	 Statement as to Compliance
	  	 	20	 
		 	 Section 4.05
	 	 Corporate Existence
	  	 	20	 
		 	 Section 4.06
	 	 Reserved
	  	 	21	 
		 	 Section 4.07
	 	 Waiver of Covenants
	  	 	21	 
		 	 Section 4.08
	 	 Notice of Default
	  	 	21	 
		
	 ARTICLE 5 SECURITYHOLDER LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE
	  	 	21	 
		 	 Section 5.01
	 	 Securityholder Lists
	  	 	21	 
		 	 Section 5.02
	 	 Preservation and Disclosure of Lists
	  	 	21	 
		 	 Section 5.03
	 	 Reports by the Company
	  	 	22	 
		 	 Section 5.04
	 	 Reports by the Trustee
	  	 	22	 
		
	 ARTICLE 6 REMEDIES
	  	 	22	 
		 	 Section 6.01
	 	 Events of Default; Acceleration of Maturity
	  	 	22	 
		 	 Section 6.02
	 	 Rescission and Annulment
	  	 	23	 
		 	 Section 6.03
	 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	24	 

  
 i 

									
		 	Section 6.04	 	 Trustee May File Proofs of Claim
	  	 	24	 
		 	Section 6.05	 	 Trustee May Enforce Claims Without Possession of Securities or Coupons
	  	 	25	 
		 	Section 6.06	 	 Application of Money Collected
	  	 	25	 
		 	Section 6.07	 	 Limitation on Suits
	  	 	26	 
		 	Section 6.08	 	 Unconditional Right of Securityholders to Receive Principal and Interest
	  	 	26	 
		 	Section 6.09	 	 Restoration of Rights and Remedies
	  	 	26	 
		 	Section 6.10	 	 Rights and Remedies Cumulative
	  	 	26	 
		 	Section 6.11	 	 Delay or Omission Not Waiver
	  	 	27	 
		 	Section 6.12	 	 Control by Securityholders
	  	 	27	 
		 	Section 6.13	 	 Waiver of Past Defaults
	  	 	27	 
		 	Section 6.14	 	 Undertaking for Costs
	  	 	27	 
		 	Section 6.15	 	 Waiver of Stay or Extension Laws
	  	 	28	 
		
	 ARTICLE 7 CONCERNING THE TRUSTEE
	  	 	28	 
		 	Section 7.01	 	 Duties and Responsibilities of Trustee
	  	 	28	 
		 	Section 7.02	 	 Reliance on Documents, Opinions, etc.
	  	 	29	 
		 	Section 7.03	 	 No Responsibility for Recitals, etc.
	  	 	30	 
		 	Section 7.04	 	 Ownership of Securities
	  	 	30	 
		 	Section 7.05	 	 Moneys to be Held in Trust
	  	 	30	 
		 	Section 7.06	 	 Compensation and Expenses of Trustee
	  	 	30	 
		 	Section 7.07	 	 Officers’ Certificate as Evidence
	  	 	31	 
		 	Section 7.08	 	 Disqualifications; Conflicting Interest of Trustee
	  	 	31	 
		 	Section 7.09	 	 Eligibility of Trustee
	  	 	31	 
		 	Section 7.10	 	 Resignation or Removal of Trustee
	  	 	31	 
		 	Section 7.11	 	 Acceptance by Successor Trustee
	  	 	32	 
		 	Section 7.12	 	 Successor by Merger, etc.
	  	 	33	 
		 	Section 7.13	 	 Limitations on Rights of Trustee as Creditor
	  	 	33	 
		 	Section 7.14	 	 Notice of Default
	  	 	33	 
		 	Section 7.15	 	 Appointment of Authenticating Agent
	  	 	33	 
		
	 ARTICLE 8 CONCERNING THE SECURITYHOLDERS
	  	 	35	 
		 	Section 8.01	 	 Action by Securityholders
	  	 	35	 
		 	Section 8.02	 	 Proof of Execution by Securityholders
	  	 	35	 
		 	Section 8.03	 	 Who Are Deemed Absolute Owners
	  	 	36	 
		 	Section 8.04	 	 Company-Owned Securities Disregarded
	  	 	36	 
		 	Section 8.05	 	 Revocation of Consents; Future Securityholders Bound
	  	 	36	 
		 	Section 8.06	 	 Record Date
	  	 	37	 
		
	 ARTICLE 9 SECURITYHOLDERS’ MEETINGS
	  	 	37	 
		 	Section 9.01	 	 Purposes of Meeting
	  	 	37	 
		 	Section 9.02	 	 Call of Meetings by Trustee
	  	 	37	 
		 	Section 9.03	 	 Call of Meetings by Company or Securityholders
	  	 	37	 
		 	Section 9.04	 	 Qualifications for Voting
	  	 	38	 
		 	Section 9.05	 	 Regulations
	  	 	38	 
		 	Section 9.06	 	 Voting
	  	 	38	 

  
 ii 

									
		
	 ARTICLE 10 SUPPLEMENTAL INDENTURES
	  	 	39	 
		 	 Section 10.01
	 	 Supplemental Indentures without Consent of Securityholders
	  	 	39	 
		 	 Section 10.02
	 	 Supplemental Indentures with Consent of Holders
	  	 	40	 
		 	 Section 10.03
	 	 Compliance with Trust Indenture Act; Effect of Supplemental Indentures
	  	 	41	 
		 	 Section 10.04
	 	 Notation on Securities
	  	 	41	 
		
	 ARTICLE 11 CONSOLIDATION, MERGER, SALE OR CONVEYANCE
	  	 	41	 
		 	 Section 11.01
	 	 Company May Consolidate, etc., on Certain Terms
	  	 	41	 
		 	 Section 11.02
	 	 Successor Corporation Substituted
	  	 	41	 
		 	 Section 11.03
	 	 Opinion of Counsel and Officers’ Certificate to be Given Trustee
	  	 	42	 
		
	 ARTICLE 12 SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS
	  	 	42	 
		 	 Section 12.01
	 	 Discharge of Indenture
	  	 	42	 
		 	 Section 12.02
	 	 Deposited Moneys to be Held in Trust by Trustee
	  	 	43	 
		 	 Section 12.03
	 	 Paying Agent to Repay Moneys Held
	  	 	43	 
		 	 Section 12.04
	 	 Return of Unclaimed Moneys
	  	 	43	 
		
	 ARTICLE 13 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	  	 	43	 
		 	 Section 13.01
	 	 Indenture and Securities Solely Corporate Obligations
	  	 	43	 
		
	 ARTICLE 14 DEFEASANCE AND COVENANT DEFEASANCE
	  	 	43	 
		 	 Section 14.01
	 	 Applicability of Article
	  	 	43	 
		 	 Section 14.02
	 	 Defeasance and Discharge
	  	 	43	 
		 	 Section 14.03
	 	 Covenant Defeasance
	  	 	44	 
		 	 Section 14.04
	 	 Conditions to Defeasance or Covenant Defeasance
	  	 	44	 
		 	 Section 14.05
	 	 Deposited Money and U.S. Government Obligations to be Held in Trust; Other
Miscellaneous Provisions
	  	 	45	 
		
	 ARTICLE 15 MISCELLANEOUS PROVISIONS
	  	 	46	 
		 	 Section 15.01
	 	 Benefits of Indenture Restricted to Parties and Securityholders
	  	 	46	 
		 	 Section 15.02
	 	 Provisions Binding on Company’s Successors
	  	 	46	 
		 	 Section 15.03
	 	 Addresses for Notices, etc., to Company and Trustee
	  	 	46	 
		 	 Section 15.04
	 	 Notice to Holders of Securities; Waiver
	  	 	47	 
		 	 Section 15.05
	 	 Evidence of Compliance with Conditions Precedent
	  	 	47	 
		 	 Section 15.06
	 	 Legal Holidays
	  	 	48	 
		 	 Section 15.07
	 	 Trust Indenture Act to Control
	  	 	48	 
		 	 Section 15.08
	 	 Execution in Counterparts
	  	 	48	 
		 	 Section 15.09
	 	 Governing Law
	  	 	48	 
		 	 Section 15.10
	 	 Separability Clause
	  	 	48	 
		 	 Section 15.11
	 	 Force Majeure
	  	 	48	 
		 	 Section 15.12
	 	 Consequential Damages
	  	 	48	 
		
	 ARTICLE 16 SUBORDINATION OF SECURITIES
	  	 	49	 
		 	 Section 16.01
	 	 Securities Subordinate to Senior Indebtedness
	  	 	49	 

  
 iii 

 THIS INDENTURE, dated as of August 5, 2020 between Univest Financial Corporation, a
corporation duly organized and existing under the laws of the Commonwealth of Pennsylvania (the “Company”), and U.S. Bank National Association (the “Trustee,” which term shall include any successor trustee appointed
pursuant to Article 7 of this Indenture). 
 WHEREAS, the Company deems it necessary to issue from time to time for its lawful purposes
securities (the “Securities”) evidencing its unsecured indebtedness and has duly authorized the execution and delivery of this Indenture to provide for the issuance of the Securities in one or more series, unlimited as to principal
amount, to bear such rates of interest, to mature at such time or times, and to have such other provisions as shall be fixed as hereinafter provided; and 

WHEREAS, the Company represents that all acts and things necessary to constitute these presents a valid indenture and agreement according to
its terms have been done and performed, and the execution of this Indenture has in all respects been duly authorized, and the Company, in the exercise of legal right and power in it vested, is executing this Indenture; 

NOW, THEREFORE: 
 In order to
declare the terms and conditions upon which the Securities are authenticated, issued and received, and in consideration of the premises, of the purchase and acceptance of the Securities by the holders thereof and of the sum of One Dollar to it
duly paid by the Trustee at the execution of these presents, the receipt whereof is hereby acknowledged, the Company covenants and agrees with the Trustee, for the equal and proportionate benefit of the respective holders from time to time of the
Securities, as follows: 
 ARTICLE 1 

DEFINITIONS 
 SECTION 1.01. Definitions.

 The terms defined in this Section (except as herein otherwise expressly provided or unless the context otherwise requires) for
all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section. All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939 or that are by reference
therein defined in the Securities Act of 1933 shall have the meanings (except as herein otherwise expressly provided or unless the context otherwise requires) assigned to such terms in the Trust Indenture Act of 1939 and in the Securities Act of
1933 as in force at the date of this Indenture as originally executed. All accounting terms used herein and not expressly defined shall have the meanings assigned to such terms in accordance with United States generally accepted accounting
principles, and the term “generally accepted accounting principles” means such accounting principles as are generally accepted at the time of any computation. The words “herein,” “hereof” and “hereunder” and
other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. The terms defined in this Article have the meanings assigned to them in this Article and include the
plural as well as the singular. 
 “Additional Amounts” shall mean any additional amounts to be paid by the Company in
respect of Securities of a series, as may be specified pursuant to Section 2.03(b) hereof and in such Security and under the circumstances specified therein, in respect of specified taxes, assessments or other governmental charges imposed
on certain holders who are United States Aliens. 
 “Authorized Newspaper” shall mean a newspaper (which, in the case of
the United Kingdom, will, if practicable, be the Financial Times (London Edition) and, in the case of Luxembourg, will, if practicable, be the Luxemburger Wort) of general circulation in the place of publication, published in an official language of
the country of publication and customarily published at least once a day for at least five days in each calendar week. Whenever successive weekly publications in an Authorized Newspaper are authorized or required hereunder, they may be made
(unless otherwise provided herein) on the same or different days of the week and in the same or different Authorized Newspapers. If it shall be impractical in the opinion of the Trustee to make any publication of any notice required hereby in
an Authorized Newspaper, any publication or other notice in lieu thereof which is made or given with the approval of the Trustee shall constitute a sufficient publication of such notice. 

  
 1 

 “Authorized Officer” shall have the meaning set forth in Section 3.02
hereof. 
 “Bearer Security” shall mean any Security established pursuant to Section 2.01 and
Section 2.03(b) hereof which is payable to bearer (including without limitation any Security in temporary or permanent global bearer form) and title to which passes by delivery only, but does not include any coupons. 

“Board of Directors” or “Board” shall mean the Board of Directors of the Company or any duly authorized
committee of such Board. 
 “Board Resolution” shall mean a resolution certified by the Secretary or an Assistant Secretary
of the Company to have been duly adopted by the Board of Directors or by a committee acting under authority of or appointment by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the
Trustee. 
 “Business Day” shall mean, unless otherwise specified pursuant to Section 2.03(b), with respect to any
Place of Payment or any other particular location referred to in this Indenture or in the Securities, a day that in the city (or in any one of the cities, if more than one) in which amounts are payable, as specified in the form of such Security, is
not a day on which banking institutions are authorized or required by law or regulation to be closed. 
 “Capital Stock”
shall mean, as to shares of a particular corporation, outstanding shares of stock of any class, whether now or hereafter authorized, irrespective of whether such class shall be limited to a fixed sum or percentage in respect of the rights of the
holders thereof to participate in dividends and in the distribution of assets upon the voluntary liquidation, dissolution or winding up of such corporation. 

“Clearstream, Luxembourg” shall mean Clearstream Banking, société anonyme, Luxembourg, or any successor
thereof. 
 “Common Depositary” shall have the meaning set forth in Section 2.08 hereof. 

“Commission” shall mean the Securities and Exchange Commission or any successor agency. 

“Company” shall mean the person named as the “Company” in the first paragraph of this instrument until a successor
corporation shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor corporation. 

“Company Request,” “Company Order” and “Company Consent” mean, respectively, a
written request, order or consent signed in the name of the Company by its Chief Executive Officer, President, Chief Financial Officer, Vice President, General Counsel, Deputy or Associate General Counsel or Treasurer and delivered to the Trustee.

 “coupon” shall mean any interest coupon appertaining to a Bearer Security. 

“Default” or “default” shall have the meaning specified in Article 6. 

“Dollar” or “$” shall mean a dollar or other equivalent unit in such coin or currency of the United States
of America as at the time shall be legal tender for the payment of public and private debts. 
 “Euroclear” shall mean
Euroclear Bank, headquartered in Brussels, or any successor thereof, as the operator of the Euroclear System. 

  
 2 

 “Euro Security” shall mean any Bearer Security, any Security initially
represented by a Security in temporary global form exchangeable for Bearer Securities and any Security in permanent global form exchangeable for Bearer Securities. 

“Event of Default” shall have the meaning specified in Article 6. 

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

“Exchange Date” shall have the meaning set forth in Section 2.08. 

“holder,” “holder of Securities,” “securityholder” or other similar term shall mean
(a) in the case of any Registered Security, the person in whose name such Security is registered in the Security Register kept by the Company for that purpose, in accordance with the terms hereof, and (b) in the case of any Bearer
Security, the bearer thereof, and as used with respect to any coupon appertaining to any Bearer Security, the term “holder” shall mean the bearer thereof. 

“Indenture” shall mean this instrument as originally executed and delivered or as it may from time to time be supplemented or
amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including without limitation, the forms and terms of particular series of Securities established as contemplated by Article 2. 

“Officers’ Certificate” shall mean a certificate signed by the Chief Executive Officer, President, Chief Financial
Officer, Vice President, General Counsel, Deputy or Assistant General Counsel or Treasurer of the Company and delivered to the Trustee. 

“Opinion of Counsel” shall mean an opinion in writing signed by legal counsel, who may be an employee of or counsel to the
Company and who shall be reasonably satisfactory to the Trustee, or who may be other counsel reasonably satisfactory to the Trustee. 

“Original Issue Discount Securities” shall mean any Securities that are initially sold at a discount from the principal
amount thereof and that provide upon an Event of Default for declaration of an amount less than the principal amount thereof to be due and payable upon acceleration thereof. 

“Outstanding” or “outstanding,” when used with reference to Securities, shall, subject to the provisions of
Section 7.08, Section 8.01 and Section 8.04, mean, as of any particular time, all Securities authenticated and delivered by the Trustee under this Indenture, except: 

(a) Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 

(b) Securities, or portions thereof, for the payment or redemption of which moneys in the necessary amount shall have been deposited in trust
with the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated and held in trust by the Company (if the Company shall act as its own paying agent) for the holders of such Securities and any coupons
appertaining thereto; provided, that if such Securities, or portions thereof, are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article 3, or provision satisfactory to the
Trustee shall have been made for giving such notice; 
 (c) Securities that have been defeased pursuant to Section 14.02 hereof; and

 (d) Securities that have been paid pursuant to Section 2.09, or Securities in exchange for, in lieu of and in substitution for
which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07, unless proof satisfactory to the Trustee is presented that any such Securities are held by bona fide holders in due course. 

  
 3 

 “Periodic Offering” shall mean an offering of Securities of a series, from
time to time, the specific terms of which (including, without limitation, the rate or rates of interest or formula for determining the rate or rates of interest thereon, if any, the maturity date or dates thereof and the redemption provisions, if
any, with respect thereto) are to be determined by the Company upon the issuance of such Securities. 
 “Person” or
“person” shall mean any individual, corporation, limited liability company, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision
thereof. 
 “Place of Payment,” when used with respect to the Securities of any series, means the place or places where,
subject to the provisions of Section 4.02, the principal of (and premium, if any, on) and any interest on the Securities of that series are payable as specified as contemplated by Section 2.03(b). 

“Possessions,” when used with respect to the United States, shall include Puerto Rico, the U.S. Virgin Islands, Guam,
American Samoa, Wake Island and Northern Mariana Islands. 
 “record date” as used with respect to any interest payment
date shall have the meaning specified in Section 2.05. 
 “Registered Security” shall mean any Security established
pursuant to Section 2.01 and Section 2.03(b) that is registered on the Security Register of the Company. 

“Responsible Officer,” when used with respect to the Trustee, shall mean any officer within the Corporate Trust Office of the
Trustee (or any successor group of the Trustee), including any Vice President, Assistant Vice President, Assistant Secretary or any other officer of the Trustee customarily performing functions similar to those performed by any of the above
designated officers and also shall mean, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

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

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

“Security Register” and “Security Registrar” shall have the respective meanings set forth in
Section 2.07(a) hereof. 
 “special record date” as used with respect to any defaulted interest payment date
shall have the meaning specified in Section 2.05. 
 “Subsidiary” shall mean, in respect of any Person, any
corporation, association, partnership, limited liability company or other business entity of which more than 50% of the total voting power of shares of capital stock or other interests (including partnership interests) entitled (without regard to
the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by (a) such Person, (b) such Person and one or more Subsidiaries of such
Person or (c) one or more Subsidiaries of such Person. 
 “Trust Indenture Act,” except as otherwise provided in this
Indenture, shall mean the Trust Indenture Act of 1939, as amended, as in force at the date of this Indenture as originally executed. 

“Trustee” shall mean the person identified as “Trustee” in the first paragraph hereof until the acceptance of
appointment of a successor trustee pursuant to the provisions of Article 7, and thereafter shall mean such successor trustee. 

“United States Alien” shall mean any person who, for United States federal income tax purposes, is a foreign corporation, a non-resident alien individual, a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership to the extent that one or more of its members is, for
United States federal income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident alien fiduciary of a foreign estate or trust.

  
 4 

 “U.S. Depositary” shall mean, with respect to the Securities
of any series issuable or issued in whole or in part in the form of one or more permanent global Securities, the person designated as U.S. Depositary by the Company pursuant to Section 2.03(b), which must be a clearing agency registered
under the Exchange Act, until a successor U.S. Depositary shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “U.S. Depositary” shall mean or include each person who is then a
U.S. Depositary hereunder, and if at any time there is more than one such person, “U.S. Depositary” as used with respect to the Securities of any series shall mean the U.S. Depositary with respect to the Securities of such
series. 
 “Vice President” when used with respect to the Company or the Trustee shall mean any vice president, whether or
not designated by a number or word or words added before or after the title “vice president,” including any Executive or Senior Vice President. 

ARTICLE 2 
 ISSUE,
EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES 
 SECTION 2.01. Amount Unlimited; Issuable in Series. 

Upon the execution of this Indenture, or from time to time thereafter, Securities up to the aggregate principal amount and containing terms and
conditions from time to time authorized by or pursuant to a Board Resolution, or in an indenture supplemental hereto, as set forth in Section 2.03, may be executed by the Company and delivered to the Trustee for authentication, and the Trustee
shall thereupon authenticate and make available for delivery the Securities to or upon Company Order, without any further action by the Company but subject to the provisions of Section 2.03, or in an indenture supplemental hereto, as set forth
in Section 2.03. 
 The Securities may be issued in one or more series. The aggregate principal amount of Securities of all series that
may be authenticated and delivered and outstanding under this Indenture is not limited hereunder. The Securities of a particular series may be issued up to the aggregate principal amount of Securities for such series from time to time authorized by
or pursuant to a Board Resolution. 
 SECTION 2.02. Form of Trustee’s Certificate of Authentication. 

The Trustee’s certificate of authentication shall be in substantially the following form: 

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

 

							
	Dated:	 		 	U.S. Bank National Association, as Trustee
				
		 		 	By:	 	  

		 		 		 	Authorized Signatory

 SECTION 2.03. Form of Securities Generally; Establishment of Terms of Series. 

The Registered Securities, if any, of each series, the Bearer Securities, if any, of each series and related coupons, if any, the temporary
global Securities of each series, if any, and the permanent global Securities of each series, if any, shall be in the forms established from time to time in or pursuant to one or more Board Resolutions (and, to the extent established pursuant to
rather than set forth in one or more Board Resolutions, in an Officers’ Certificate (to which shall be attached true and correct copies of the relevant Board Resolution(s)) detailing such establishment) or established in an indenture
supplemental hereto. 

  
 5 

 The Securities may be issued in typewritten, printed or engraved form with such letters,
numbers or other marks of identification or designation (including “CUSIP” numbers, if then generally in use) and such legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate and as are not
inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which the Securities may be listed, or to
conform to usage. Unless otherwise specified as contemplated hereinafter, Securities in bearer form shall have interest coupons attached. 

(a) At or prior to the initial issuance of Securities of any series, the particular terms of Securities of such series shall be established in
or pursuant to one or more Board Resolutions (and to the extent established pursuant to rather than set forth in one or more Board Resolutions, in an Officers’ Certificate (to which shall be attached true and correct copies of the relevant
Board Resolutions(s)) detailing such establishment) or established in an indenture supplemental hereto, including the following: 

(1) the designation of the particular series (which shall distinguish such series from all other series); 

(2) the aggregate principal amount of such series which may be authenticated and delivered under this Indenture (except for
Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to this Indenture and except for any Securities which, pursuant to Section 2.06, are deemed
never to have been authenticated and delivered hereunder); 
 (3) whether Securities of the series are to be issuable as
Registered Securities, Bearer Securities (with or without coupons) or both, whether any Securities of the series are to be issuable initially in temporary global form with or without coupons and, if so, the name of the Common Depositary with respect
to any such temporary global Security, and whether any Securities of the series are to be issuable in permanent global form with or without coupons and, if so, whether beneficial owners of interests in any such permanent global Security may exchange
such interests for Securities of such series and of like tenor of any authorized form and denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section 2.06 and the name of the
Common Depositary or the U.S. Depositary with respect to any such permanent global Security; 
 (4) the date as of which
any Bearer Securities of such series and any temporary Security in global form representing Outstanding Securities of such series shall be dated, if other than the date of original issuance of the first Securities of the series to be issued; 

(5) the person to whom any interest on any Registered Security of the series shall be payable, if other than the person in
whose name that Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest, the manner in which, or the person to whom, any interest on any Bearer Security of the series shall
be payable, if otherwise than upon presentation and surrender of the coupons appertaining thereto as they severally mature, the extent to which, or the manner in which, any interest payable on a temporary global Security on an interest payment date
will be paid if other than in the manner provided in Section 2.08 and the extent to which, or the manner in which, any interest payable on a permanent global Security on an interest payment date will be paid; 

(6) the date or dates on which the principal of the Securities of such series is payable; 

(7) the rate or rates, and if applicable the method used to determine the rate, at which the Securities of such series shall
bear interest, if any, the date or dates from which such interest shall accrue, the date or dates on which such interest shall be payable and the record date or dates for the interest payable on any Registered Securities on any interest payment
date; 

  
 6 

 (8) the place or places at which, subject to the provisions of
Section 4.02, the principal of (and premium, if any, on) and any interest on Securities of such series shall be payable, any Registered Securities of the series may be surrendered for registration of transfer, Securities of the series may be
surrendered for exchange and notices and demands to or upon the Company in respect of the Securities of the series and this Indenture may be served;

(9) the obligation, if any, of the Company to redeem or purchase Securities of such series, at the option of the Company or at
the option of a holder thereof, pursuant to any sinking fund or other redemption provisions and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the series may be so redeemed or
purchased, in whole or in part; 
 (10) if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which any Registered Securities of such series shall be issuable, and the denomination or denominations in which any Bearer Securities of the series shall be issuable, if other than the denomination of $5,000; 

(11) if other than the principal amount thereof, the portion of the principal amount of Securities of such series which shall
be payable upon declaration of acceleration of the maturity thereof; 
 (12) the currency, currencies or currency units in
which payment of the principal of (and premium, if any, on) and any interest on any Securities of the series shall be payable if other than the currency of the United States of America and the manner of determining the equivalent thereof in the
currency of the United States of America for purposes of the definition of “Outstanding” in Section 1.01; 

(13) if the principal of (and premium, if any, on) or any interest on the Securities of the series are to be payable, at the
election of the Company or a holder thereof, in one or more currencies or currency units, other than that or those in which the Securities are stated to be payable, the currency or currencies in which payment of the principal of (and premium, if
any, on) and any interest on Securities of such series as to which such election is made shall be payable, and the periods within which and the terms and conditions upon which such election is to be made; 

(14) if the amount of payments of principal of (and premium, if any, on) or any interest on the Securities of the series may be
determined with reference to an index, the manner in which such amounts shall be determined; 
 (15) whether the Securities
will be issued in book-entry only form; 
 (16) any interest rate calculation agents, exchange rate calculation agents or
other agents with respect to Securities of such series; 
 (17) if either or both of Section 14.02 and
Section 14.03 do not apply to the Securities of the series; 
 (18) whether and under what circumstances the Company
will pay Additional Amounts in respect of any series of Securities and whether the Company has the option to redeem such Securities rather than pay such Additional Amounts; 

(19) any provisions relating to the extension of maturity of, or the renewal of, Securities of such series, or the conversion
of Securities of such series into other securities of the Company; 
 (20) any provisions relating to the purchase or
redemption of all or any portion of a tranche or series of Securities, including the period of notice required to redeem those Securities; 

(21) the terms and conditions, if any, pursuant to which the Securities of the series are secured;

(22) the subordination terms of the Securities of the series; and 

  
 7 

 (23) any other terms of the Securities or provisions relating to the payment
of principal of, premium (if any), or interest thereon, including, but not limited to, whether such Securities are issuable at a discount or premium, as amortizable Securities, and if payable in, convertible or exchangeable for commodities or for
the securities of the Company or any third party. 
 All Securities of any one series need not be issued at the same time and may be issued
from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution or Officers’ Certificate referred to above or as set forth in an indenture supplemental hereto, and, unless otherwise
provided, the authorized principal amount of any series may be increased to provide for issuances of additional Securities of such series. If so provided by or pursuant to the Board Resolution or Officers’ Certificate or supplemental indenture
referred to above, the terms of such Securities to be issued from time to time may be determined as set forth in such Board Resolution, Officers’ Certificate or supplemental indenture, as the case may be. All Securities of any one series shall
be substantially identical except as to denomination, interest rate, maturity and other similar terms and except as may be provided otherwise by or pursuant to such Board Resolution, Officers’ Certificate or supplemental indenture. 

SECTION 2.04. Securities in Global Form. 

If Securities of a series are issuable in global form, as specified as contemplated by Section 2.03(b), then, notwithstanding
clause (10) of Section 2.03(b) and the provisions of Section 2.05, any such Security in global form shall represent such of the Securities of such series Outstanding as shall be specified therein, and any such Security in global
form may provide that it shall represent the aggregate amount of Securities Outstanding from time to time endorsed thereon and that the aggregate amount of Securities Outstanding represented thereby may from time to time be reduced to reflect any
exchanges of beneficial interests in such Security in global form for Securities of such series as contemplated herein. Any endorsement of a Security in global form to reflect the amount, or any decrease in the amount, of Securities Outstanding
represented thereby shall be made by the Trustee or the Security Registrar in such manner and upon instructions given by such person or persons as shall be specified in such Security in global form or in the Company Order to be delivered to the
Trustee pursuant to Section 2.06 or Section 2.08. Subject to the provisions of Section 2.06 and, if applicable, Section 2.08, the Trustee or the Security Registrar shall deliver and redeliver any Security in permanent global form
in the manner and upon instructions given by the person or persons specified in such Security in global form or in the applicable Company Order. If a Company Order pursuant to Section 2.06 or Section 2.08 has been, or simultaneously is,
delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Security in global form shall be in writing but need not be represented by a Company Order and need not be accompanied by an Opinion of Counsel.

 The provisions of the last sentence of Section 2.06 shall apply to any Security represented by a Security in global form if such
Security was never issued and sold by the Company and the Company delivers to the Trustee or the Security Registrar the Security in global form together with written instructions (which need not be represented by a Company Order and need not be
accompanied by an Opinion of Counsel) with regard to the reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by the last sentence of Section 2.06. 

Notwithstanding the provisions of Section 2.05, unless otherwise specified as contemplated by Section 2.03(b), payment of principal
of and any premium and interest on any Security in permanent global form shall be made to the persons or persons specified therein. 
 SECTION 2.05.
Denominations; Record Date; Payment of Interest. 
 (a) Unless otherwise provided as contemplated by Section 2.03(b) with
respect to any series of Securities, any Registered Securities of a series shall be issuable without coupons in denominations of $1,000 and any Bearer Securities of a series shall be issuable, with interest coupons attached, in the denomination of
$5,000.
 (b) The term “record date” as used with respect to an interest payment date for any series of a Registered Security
shall mean such day or days as shall be specified as contemplated by Section 2.03(b); provided, however, that in the absence of any such provisions with respect to any series, such term shall mean (1) the last day of the
calendar month next preceding such interest payment date if such interest payment date is the 15th day of a calendar month; or (2) the 15th day of a calendar month next preceding such interest payment date if such interest payment
date is the first day of the calendar month. 

  
 8 

 Unless otherwise provided as contemplated by Section 2.03(b) with respect to any
series of Securities, the person in whose name any Registered Security is registered at the close of business on the record date with respect to an interest payment date shall be entitled to receive the interest payable on such interest payment date
notwithstanding the cancellation of such Security upon any registration of transfer or exchange thereof subsequent to such record date prior to such interest payment date; provided, however, that if and to the extent the Company shall
default in the payment of the interest due on such interest payment date, such defaulted interest shall be paid to the persons in whose names the Securities are registered on a subsequent record date (“special record date”) established by
notice given to the extent and in the manner set forth in Section 15.04 by or on behalf of the Company to the holders of Securities of the series in default not less than 15 days preceding such subsequent record date, such record date to
be not less than five days preceding the date of payment of such defaulted interest, or in any other lawful manner acceptable to the Trustee. 

(c) Unless otherwise specified by Board Resolution or Company Order for a particular series of Securities, the principal of, redemption
premium, if any, on and interest, if any, on the Securities of any series shall be payable at the office or agency of the Company maintained pursuant to Section 4.02 in a Place of Payment for such series, in the coin or currency of the United
States of America that at the time is legal tender for public and private debt; provided, however, that, at the option of the Company, payment of interest with respect to a Registered Security may be paid by check mailed to the holders
of the Registered Securities entitled thereto at their last addresses as they appear on the Security Register or wired if held in book-entry form at the U.S. Depositary. 

SECTION 2.06. Execution, Authentication, Delivery and Dating of Securities 

The Securities shall be signed on behalf of the Company by its Chief Executive Officer, its President or one of its Vice Presidents under its
corporate seal and attested by its Secretary or one of its Assistant Secretaries or as provided in a supplemental indenture. Such signatures may be the manual or facsimile signatures of such then current officers. 

The seal of the Company may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced on the
Securities. Coupons shall bear the facsimile signature of the Secretary or one of the Assistant Secretaries of the Company or such other officer of the Company as may be specified pursuant to Section 2.03(b). Any Security or coupon may be
signed on behalf of the Company by such persons as, at the actual date of the execution of such Security, shall be the proper officers of the Company, although at the date of the execution of this Indenture any such person was not such officer.
Securities and coupons bearing the manual or facsimile signatures of individuals who were, at the actual date of the execution of such Security or coupon, the proper officers of the Company shall bind the Company, notwithstanding that such
individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities, or the delivery of such coupons, as the case may be, or did not hold such offices at the date of such Securities. 

Upon the execution and delivery of this Indenture, the Company shall deliver to the Trustee an Officers’ Certificate as to the incumbency
and specimen signatures of officers authorized to execute and deliver the Securities and coupons and give instructions under this Section and, as long as Securities are Outstanding under this Indenture, shall deliver a similar Officers’
Certificate each year on the anniversary of the date of the first such Officers’ Certificate. The Trustee may conclusively rely on the documents delivered pursuant to this Section (unless revoked by superseding comparable documents) and
Section 2.03 hereof as to the authorization of the Board of Directors of any Securities delivered hereunder, and the form and terms thereof, and as to the authority of the instructing officers referred to in this Section so to act. 

The Trustee shall at any time, and from time to time, authenticate Securities for original issue in an unlimited aggregate principal amount
upon receipt by the Trustee of a Company Order; provided, however, that with respect to Securities of a series subject to a Periodic Offering, (a) such Company Order may be delivered to the Trustee prior to the delivery to the
Trustee of such Securities for authentication and delivery, (b) the Trustee shall authenticate and deliver Securities of such series for original issue from time to time, in an aggregate principal amount not exceeding the aggregate principal
amount, if any, established for such series, pursuant to a Company Order or pursuant to such procedures acceptable to the Trustee as may be specified from time to time by a Company 

  
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Order, (c) the maturity date or dates, original issue date or dates, interest rate or rates and any other terms of Securities of such series shall be determined by Company Order or pursuant
to such procedures, and (d) if provided for in such procedures, such Company Order may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its duly authorized agent or agents, which oral
instructions shall be promptly confirmed in writing; and provided further, however, that definitive Euro Securities may only be delivered at an office or agency outside the United States and its possessions in exchange for a portion of a Euro
Security in temporary global form of equal aggregate principal amount and series and only if (x) prior to such delivery, the owner of such Euro Security or a financial institution or clearing organization through which the owner holds such Euro
Security, directly or indirectly, shall have furnished a certificate in the form set forth in Exhibit A.1 to this Indenture, dated no earlier than 15 days prior to the date on which Euroclear or Clearstream, Luxembourg, as the case may be,
furnishes to the Common Depositary, in accordance with the procedures established in Section 2.08, a certificate in the form set forth in Exhibit A.2 to this Indenture that relates to all or such portion of such temporary global Security,
and (y) the person to whom such certificate is provided does not know or have reason to know that the information contained in such certificate is false. If any Euro Security initially represented by a portion of a temporary global Security is
exchanged for a portion of a permanent global Security in equal aggregate principal amount and series, then, for purposes of this Section and Section 2.08, the notation of a beneficial owner’s interest therein upon exchange shall be
deemed to be delivery of definitive Euro Securities representing such beneficial owner’s interest. Except as permitted by Section 2.09, the Trustee shall not authenticate and deliver any Bearer Security unless all appurtenant coupons for
interest then matured have been detached and cancelled. 
 Prior to the issuance of a Security of any new series and any related coupons,
and the authentication thereof by the Trustee, the Trustee shall have received and (subject to Section 7.02) shall be fully protected in relying on: 

(a) The Board Resolution or Officers’ Certificate or indenture supplemental hereto establishing the terms and the form of the Securities
of that series pursuant to Section 2.01 and Section 2.03; 
 (b) An Officers’ Certificate stating that all conditions
precedent provided for in this Indenture relating to the authentication and delivery of Securities in such form have been complied with; 

(c) An Opinion of Counsel stating that the form and terms of such Securities and coupons, if any, have been established in conformity with the
provisions of this Indenture; provided, however, that with respect to Securities of a series subject to a Periodic Offering, the Trustee shall be entitled to receive such Opinion of Counsel only once at or prior to the time of the
first authentication of Securities of such series. 
 With respect to Securities of a series offered in a Periodic Offering, the Trustee may
rely, as to the authorization by the Company of any of such Securities, the form and terms thereof and of any coupons and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and other documents delivered
pursuant to this Section in connection with the first authentication of Securities of such series unless and until such Opinion of Counsel or other documents have been superseded or revoked. In connection with the authentication and delivery of
Securities of a series subject to a Periodic Offering, the Trustee shall be entitled to assume that the Company’s instructions to authenticate and deliver such Securities do not violate any rules, regulations or orders of any governmental
agency or commission having jurisdiction over the Company. 
 Each Registered Security shall be dated the date of its authentication except
as otherwise provided by Board Resolution or Officers’ Certificate or indenture supplemental hereto; and each Bearer Security shall be dated as of the date of original issuance of the first Security of such series to be issued unless otherwise
specified pursuant to Section 2.03(b) hereof. 
 The aggregate principal amount of Securities of any series outstanding at any
time may not exceed any limit upon the maximum principal amount for such series set forth in or pursuant to the Board Resolution or Officers’ Certificate or indenture supplemental hereto delivered pursuant to Section 2.03, except as
provided in Section 2.08.
 No Security or coupon shall be entitled to any benefit under this Indenture or be valid or obligatory for
any purpose unless there appears on such Security, or the Security to which such coupon appertains, a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon
any Security shall be conclusive evidence, and the only evidence, that such Security has been duly 

  
 10 

 
authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the
Company shall deliver such Security to the Trustee for cancellation as provided in Section 2.09 together with a written statement stating that such Security has never been issued and sold by the Company, for all purposes of this Indenture such
Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

SECTION 2.07. Exchange and Registration of Transfer of Securities. 

(a) The Company shall keep, at an office or agency to be designated and maintained by the Company in accordance with Section 4.02 (as
such, a “Security Registrar”), registry books (the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall register Registered Securities and shall register the
transfer of Registered Securities of each such series as provided in this Article 2. Such Security Register shall be in written form or in any other form capable of being converted into written form within a reasonable time. At all reasonable
times such Security Register shall be open for inspection by the Trustee. Upon due presentment for registration of transfer of any Registered Security of a particular series at such office or agency maintained pursuant to Section 4.02 for such
purpose in a Place of Payment, the Company shall execute and register and the Trustee shall authenticate and make available for delivery in the name of the transferee or transferees a new Registered Security or Registered Securities of such series
of any authorized denominations and for an equal aggregate principal amount and tenor. 
 (b) At the option of the holder, Registered
Securities of any series may be exchanged for other Registered Securities of the same series of any authorized denominations and of an equal aggregate principal amount and tenor. Registered Securities to be exchanged shall be surrendered at any such
office or agency maintained pursuant to Section 4.02 for such purpose in a Place of Payment, and the Company shall execute and register and the Trustee shall authenticate and make available for delivery in exchange therefor the Security or
Securities that the securityholder making the exchange shall be entitled to receive. Registered Securities, including Registered Securities received in exchange for Bearer Securities, may not be exchanged for Bearer Securities, unless the Company
otherwise expressly provides for the issuance, upon such terms and conditions as may be provided with respect to such series, by the Company of Registered Securities of a series that may be exchanged, at the option of the securityholder upon such
conditions and limitations as may be specified by the Company, for Bearer Securities of such series. 
 At the option of the holder, Bearer
Securities of any series may be exchanged for Registered Securities of the same series of any authorized denominations and of a like aggregate principal amount and tenor, upon surrender of the Bearer Securities to be exchanged at any such office or
agency, with all unmatured coupons (except as provided below) and with all matured coupons in default appertaining thereto. If the holder of a Bearer Security is unable to produce any such unmatured coupon or coupons or matured coupon or coupons in
default, such exchange may be effected if the Bearer Securities are accompanied by payment in funds acceptable to the Company in an amount equal to the face amount of such missing coupon or coupons, or the surrender of such missing coupon or coupons
may be waived by the Company and the Trustee if there is furnished to them such security or indemnity as they may require to save each of them and any paying agent harmless. If thereafter the holder of such Securities shall surrender to any paying
agent any such missing coupon in respect of which such a payment shall have been made, such holder shall be entitled to receive the amount of such payment; provided, however, that, except as otherwise provided in Section 4.02,
interest represented by coupons shall be payable only upon presentation and surrender of those coupons at an office or agency located outside the United States and its possessions. Notwithstanding the foregoing, in case a Bearer Security of any
series is surrendered at any such office or agency in exchange for a Registered Security of the same series and like tenor after the close of business at such office or agency on (i) any record date and before the opening of business at such
office or agency on the relevant interest payment date, or (ii) any special record date and before the opening of business at such office or agency on the related proposed date for payment of defaulted interest as set forth in
Section 2.05, such Bearer Security shall be surrendered without the coupon relating to such interest payment date or proposed date for payment, as the case may be, and interest or defaulted interest, as the case may be, will not be payable on
such interest payment date or proposed date for payment, as the case may be, in respect of the Registered Security issued in exchange for such Bearer Security, but will be payable only to the holder of such coupon when due in accordance with the
provisions of this Indenture. 

  
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 Whenever any Securities are so surrendered for exchange, the Company shall execute and
register, and the Trustee shall authenticate and make available for delivery, the Securities which the holder making the exchange is entitled to receive. 

(c) All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company,
evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 

All Registered Securities presented for registration of transfer or for exchange, redemption or payment, as the case may be, shall (if so
required by the Company or the Trustee) be duly endorsed by, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and the Trustee or the Security Registrar duly executed by, the holder thereof or
his attorney duly authorized in writing. 
 No service charge shall be made for any exchange or registration of transfer of Securities, but
the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith, other than exchanges pursuant to the terms of this Indenture not involving any transfer. 

The Company shall not be required (1) to issue, to exchange or register the transfer of Securities of any series to be redeemed for a
period of 15 days next preceding any selection of such Securities to be redeemed, or (2) to exchange or register the transfer of any Registered Security so selected, called or being called for redemption, except in the case of any such
series to be redeemed in part the portion thereof not to be so redeemed, or (3) to exchange any Bearer Security so selected for redemption except that such a Bearer Security may be exchanged for a Registered Security of that series and of like
tenor, provided that such Registered Security shall be simultaneously surrendered for redemption. 
 (d) Notwithstanding the
foregoing, except as otherwise specified as contemplated by Section 2.03(b), any permanent global Security shall be exchangeable pursuant to this Section only as provided in this paragraph. If the beneficial owners of interests in a
permanent global Security are entitled to exchange such interests for Securities of such series and of like tenor and principal amount of another authorized form and denomination, as specified as contemplated by Section 2.03(b), then without
unnecessary delay but in any event not later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee or the Security Registrar definitive Securities of that series in aggregate principal amount
equal to the principal amount of such permanent global Security executed by the Company. On or after the earliest date on which such interests may be so exchanged, in accordance with instructions given by the Company to the Trustee or the Security
Registrar and the Common Depositary or the U.S. Depositary, as the case may be (which instructions shall be in writing), such permanent global Security shall be surrendered from time to time by the Common Depositary or the U.S. Depositary,
as the case may be, or such other depositary or Common Depositary or U.S. Depositary, as the case may be, as shall be specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such purpose, or to the
Security Registrar, to be exchanged, in whole or in part, for definitive Securities of the same series without charge and the Trustee shall authenticate and make available for delivery in accordance with such instructions, in exchange for each
portion of such permanent global Security, a like aggregate principal amount of definitive Securities of the same series of authorized denominations and of like tenor as the portion of such permanent global Security to be exchanged which (unless the
Securities of the series are not issuable both as Bearer Securities and as Registered Securities, in which case the definitive Securities exchanged for the permanent global Security shall be issuable only in the form in which the Securities are
issuable, as specified as contemplated by Section 2.03(b)), shall be in the form of Bearer Securities or Registered Securities, or any combination thereof, as shall be specified by the beneficial owner thereof; provided, however,
that no such exchanges may occur for a period of 15 days next preceding any selection of Securities of that series and of like tenor for redemption; and provided, further, that no Bearer Security delivered in exchange for a
portion of a permanent global security shall be mailed or otherwise delivered to any location in the United States or its possessions. Promptly following any such exchange in part, such permanent global Security should be returned by the Trustee or
the Security Registrar to the Common Depositary or the U.S. Depositary, as the case may be, or such other depositary or Common Depositary or U.S. Depositary referred to above in accordance with the instructions of the Company referred to
above. If a Registered Security is issued in exchange for any portion of a permanent global Security after the close of business at the office or agency where such exchange occurs on (i) any record date and before the opening of business at
such office or agency on the relevant interest payment date, or (ii) any special record date and before the opening of 

  
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business at such office or agency on the related proposed date for payment of defaulted interest as provided in Section 2.05, interest or defaulted interest, as the case may be, will not be
payable on such interest payment date or proposed date for payment, as the case may be, in respect of such Registered Security, but will be payable on such interest payment date or proposed date for payment, as the case may be, only to the person to
whom interest in respect of such portion of such permanent global Security is payable in accordance with the provisions of this Indenture. 
 SECTION
2.08. Temporary Securities. 
 Pending the preparation of definitive Securities of any series, the Company may execute and the Trustee
shall, upon Company Order, authenticate and make available for delivery, temporary Securities of such series (typewritten, printed, lithographed or otherwise produced). Such temporary Securities, in any authorized denominations, shall be
substantially in the form of the definitive Securities in lieu of which they are issued, in registered form or, if authorized, in bearer form with one or more or without coupons, in the form approved from time to time by or pursuant to a Board
Resolution but with such omissions, insertions, substitutions and other variations as may be appropriate for temporary Securities, all as may be determined by the Company, but not inconsistent with the terms of this Indenture or any provision of
applicable law. In the case of any series issuable as Bearer Securities, such temporary Securities shall be delivered only in compliance with the conditions set forth in Section 2.06 and may be in global form. 

Except in the case of temporary Securities in global form (which shall be exchanged as hereinafter provided), if temporary Securities of any
series are issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable
for definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company maintained pursuant to Section 4.02 in a Place of Payment for such series for the purpose of exchanges of
Securities of such series, without charge to the holder. Upon surrender for cancellation of any one or more temporary Securities of any series (accompanied by any unmatured coupons appertaining thereto), the Company shall execute and the Trustee
shall authenticate and make available for delivery in exchange therefor a like aggregate principal amount of definitive Securities of the same series and of like tenor of authorized denominations; provided, however, that, except as
otherwise expressly provided by the Company as contemplated in Section 2.07(b), no definitive Bearer Security shall be delivered in exchange for a temporary Registered Security; and provided further, however, that a definitive
Bearer Security shall be delivered in exchange for a temporary Bearer Security only in compliance with the conditions set forth in Section 2.06. 

All Euro Securities shall be issued initially in the form of a temporary global Security and any such temporary global Security shall, unless
otherwise provided therein, be delivered to the London office of a depositary or common depositary (the “Common Depositary”), for the benefits of Euroclear and Clearstream, Luxembourg, for credit to the respective accounts for the
beneficial owners of such Securities (or to such other accounts as they may direct). 
 Without unnecessary delay but in any event not later
than the date specified in, or determined pursuant to the terms of, any such temporary global Security of a series (the “Exchange Date”), the Company shall deliver to the Trustee definitive Securities of that series, in aggregate
principal amount equal to the principal amount of such temporary global Security, executed by the Company. On or after the Exchange Date such temporary global Security shall be presented and surrendered by the Common Depositary to the Trustee, as
the Company’s agent for such purpose, or to the Security Registrar, to be exchanged, in whole or from time to time in part, for definitive Securities of such series without charge, and the Trustee shall authenticate and make available for
delivery, in exchange for each portion of such temporary global Security, a like aggregate principal amount of definitive Securities of the same series of authorized denominations and of like tenor as the portion of such temporary global Security to
be exchanged; provided, however, that, unless otherwise specified in such temporary global Security, upon such presentation by the Common Depositary, such temporary global Security must be accompanied by a certificate dated the
Exchange Date or a subsequent date and signed by Euroclear as to the portion of such temporary global Security held for its account then to be exchanged and a certificate dated the Exchange Date or a subsequent date and signed by Clearstream,
Luxembourg as to the portion of such temporary global Security held for its account then to be exchanged, each in the form set forth in Exhibit A.2 to this Indenture. The definitive Securities to be

  
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delivered in exchange for any such temporary global Security shall be in bearer form, registered form, permanent global bearer form or permanent global registered form, or any combination
thereof, as specified as contemplated by Section 2.03(b), and, if any combination thereof is so specified, as requested by the beneficial owner thereof; provided, however, that definitive Securities shall be delivered in exchange
for a portion of a temporary global Security only in compliance with the requirements of Section 2.06. 
 Unless otherwise specified in
such temporary global Security, the interest of a beneficial owner of Securities of a series in a temporary global Security shall be exchanged for definitive Securities of the same series and of like tenor upon the receipt by Euroclear or
Clearstream, Luxembourg, as the case may be, after the Exchange Date of a certificate in the form set forth in Exhibit A.1 to this Indenture (whether or not such certificate is delivered in connection with the payment of interest, as
hereinafter provided) signed by the owner of the Security or a financial institution or clearing organization through which the owner directly or indirectly holds such Security, and dated no earlier than 15 days prior to the date on which
Euroclear or Clearstream, Luxembourg, as the case may be, furnishes to the Common Depositary in accordance with the preceding paragraph a certificate in the form set forth in Exhibit A.2 to this Indenture that relates to the interest to be
exchanged for definitive Securities. Copies of the certificate in the form set forth in Exhibit A.1 to this Indenture shall be available from the offices of Euroclear and Clearstream, Luxembourg, the Trustee, any authenticating agent appointed
for such series of Securities and each paying agent. Unless otherwise specified in such temporary global Security, any such exchange shall be made free of charge to the beneficial owners of such temporary global Security, except that a person
receiving definitive Securities must bear the cost of insurance, postage, transportation and the like in the event that such person does not take delivery of such definitive Securities in person at the offices of Euroclear or Clearstream,
Luxembourg. Definitive Securities to be delivered in exchange for any portion of a temporary global Security shall be delivered only outside the United States and its possessions. 

Until exchanged in full as hereinabove provided, the temporary Securities of any series shall in all respects be entitled to the same benefits
under this Indenture as definitive Securities of the same series and of like tenor authenticated and delivered hereunder, except that, unless otherwise specified as contemplated by Section 2.03(b), interest payable on a temporary global
Security on any interest payment date for Securities of such series occurring prior to the exchange of such temporary global Security shall be payable to Euroclear and Clearstream, Luxembourg on such interest payment date upon delivery by Euroclear
and Clearstream, Luxembourg to the Trustee or the applicable paying agent of a certificate or certificates in the form set forth in Exhibit A.3 to this Indenture, for credit without further interest on or after such interest payment date to the
respective accounts of the persons for whom Euroclear or Clearstream, Luxembourg, as the case may be, holds such temporary global Security on such interest payment date and who have each delivered to Euroclear or Clearstream, Luxembourg, as the case
may be, a certificate in the form set forth in Exhibit A.1 to this Indenture. If such interest payment date occurs on or after the Exchange Date, Euroclear or Clearstream, Luxembourg, as the case may be, following the receipt of such
certificate shall exchange, in accordance with the procedures hereinabove provided, the portion of the temporary global Security that relates to such certificate for definitive Securities (which, in the absence of instructions to the contrary, shall
be an interest in a permanent global Security). Any interest so received by Euroclear and Clearstream, Luxembourg and not paid as herein provided shall be returned to the Trustee or the applicable paying agent immediately prior to the expiration of
two years after such interest payment date in order to be repaid to the Company in accordance with Section 12.04. The terms and form of the certificates to be delivered hereunder, and procedures established with respect thereto, are intended to
ensure that (i) interest payable by the Company on Securities of a series issuable in bearer form is deductible by the Company under Section 163(f) of the Internal Revenue Code of 1986, as may be amended from time to time, or any successor
provision and (ii) the Company meets the requirements, if any, established by Euroclear or Clearstream, Luxembourg from time to time, and any such certificates or the procedures with respect thereto may be amended or modified by the Company
upon delivery of a Company Order to the Trustee accompanied by an Opinion of Counsel to the effect that the proposed modification or amendment will effect continued compliance by the Company with provisions of such Code or Euroclear or Clearstream,
Luxembourg, as the case may be. 
 Every temporary Security shall be executed by the Company and be authenticated by the Trustee upon the
same conditions and in substantially the same manner, and with like effect, as the definitive Securities. 

  
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 SECTION 2.09. Mutilated, Destroyed, Lost or Stolen Securities and Coupons 

If any mutilated Security or a Security with a mutilated coupon appertaining thereto is surrendered to the Trustee, the Company shall execute
and the Trustee shall authenticate and make available for delivery in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding, with coupons corresponding to
the coupons, if any, appertaining to the surrendered Security. 
 If there shall be delivered to the Company and the Trustee
(i) evidence to their satisfaction of the destruction, loss or theft of any Security or coupon and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the
absence of notice to the Company or the Trustee that such Security or coupon has been acquired by a bona fide purchaser, the Company shall, subject to the following paragraph, execute and the Trustee shall authenticate and make available for
delivery, in lieu of any such destroyed, lost or stolen Security or in exchange for the Security to which a destroyed, lost or stolen coupon appertains (with all appurtenant coupons not destroyed, lost or stolen), a new Security of the same series
and of like tenor and principal amount and bearing a number not contemporaneously outstanding, with coupons corresponding to the coupons, if any, appertaining to such destroyed, lost or stolen Security or to the Security to which such destroyed,
lost or stolen coupon appertains. 
 In case any such mutilated, destroyed, lost or stolen Security or coupon has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security or coupon; provided, however, that principal of (and premium, if any, on) and any interest on Bearer Securities shall, except as
otherwise provided in Section 4.02, be payable only at an office or agency located outside the United States and its possessions. 

Upon the issuance of any new Security under this Section, the Company may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

Every new Security of any series, with any coupons appertaining thereto, issued pursuant to this Section in lieu of any destroyed, lost
or stolen Security or in exchange for a Security to which a destroyed, lost or stolen coupon appertains, shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security and any
coupons appertaining thereto, or the destroyed, lost or stolen coupon shall be at any time enforceable by anyone, and any such new Security and coupons, if any, shall be entitled to all the benefits of this Indenture equally and proportionately with
any and all other Securities of that series and their coupons, if any, duly issued hereunder. 
 The provisions of this Section are
exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or coupons.

SECTION 2.10. Cancellation. 
 All
Securities surrendered for payment, redemption, exchange or registration of transfer or for credit against any sinking fund payment, as the case may be, and any coupons surrendered for payment, shall, if surrendered to the Company or any agent of
the Company or of the Trustee, be delivered to the Trustee. All Registered Securities and matured coupons so delivered shall be promptly cancelled by the Trustee. All Bearer Securities and unmatured coupons so delivered shall be held by the Trustee,
and upon instruction by a Company Order, shall be cancelled or held for reissuance. All Bearer Securities and unmatured coupons held by the Trustee pending such cancellation or reissuance shall be deemed to be delivered for cancellation for all
purposes of this Indenture and the Securities. The Company may deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to
the Trustee (or to any other person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the
Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section except as expressly provided by this Indenture. Any cancelled Securities and coupons held by the Trustee shall be
delivered to the Company or disposed of as directed by the Company; provided, however, that the Trustee may, but shall not be required to, destroy such Securities. 

  
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 SECTION 2.11. Book Entry Only System. 

If specified by the Company pursuant to Section 2.03(b) with respect to Securities represented by a Security in global form, a series
of Securities may be issued initially in book-entry only form and, if issued in such form, shall be represented by one or more Securities in global form registered in the name of the U.S. or Common Depositary or other depositary designated with
respect thereto. So long as such system of registration is in effect, (a) Securities of such series so issued in book-entry only form will not be issuable in the form of or exchangeable for Securities in certificated or definitive registered
form, (b) the records of the U.S. or Common Depositary or such other depositary will be determinative for all purposes and (c) neither the Company, the Trustee nor any paying agent, Security Registrar or transfer agent for such
Securities will have any responsibility or liability for (i) any aspect of the records relating to or payments made on account of owners of beneficial interests in the Securities of such series, (ii) maintaining, supervising or reviewing
any records relating to such beneficial interests, (iii) receipt of notices, voting and requesting or directing the Trustee to take, or not to take, or consenting to, certain actions hereunder, or (iv) the records and procedures of the
U.S. or Common Depositary, or such other depositary, as the case may be. 
 ARTICLE 3 

REDEMPTION OF SECURITIES 
 SECTION 3.01.
Redemption of Securities, Applicability of Section. 
 Redemption of Securities of any series as permitted or required by the terms
thereof shall be made in accordance with the terms of such Securities as specified pursuant to Section 2.03(b) hereof and this Article; provided, however , that if any provision of any series of Securities shall conflict with any
provision of this Section, the provision of such series of Securities shall govern. 
 SECTION 3.02. Notice of Redemption, Selection of Securities.

 In case the Company shall desire to exercise the right to redeem all or, as the case may be, any part of a series of Securities
pursuant to Section 3.01, it shall fix a date for redemption. Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company, or, at the Company’s request, by the Trustee in the name and at
the expense of the Company. The Company or the Trustee, as the case may be, shall give notice of such redemption, in the manner and to the extent set forth in Section 15.04, on that date prior to the date fixed for a redemption to the holders
of such Securities so to be redeemed, as a whole or in part, (a) as set forth in Board Resolutions, as described in Section 2.03(b), or (b) as determined by the Chief Executive Officer, the Chief Financial Officer, any Senior or other
Vice President or the Treasurer of the Company (each, an “Authorized Officer”) and evidenced by the preparation of an offering document or an Officer’s Certificate specifying the period of notice of such redemption. If the
Board Resolutions or an Authorized Officer do not specify a period of notice of such redemption, the Company or the Trustee, as the case may be, shall give notice of such redemption, in the manner and to the extent set forth in Section 15.04,
at least 10 calendar days and not more than 60 calendar days prior to the date fixed for a redemption to the holders of such Securities so to be redeemed as a whole or in part. Notice given in such manner shall be conclusively presumed to
have been duly given, whether or not the holder receives such notice. In any case, failure to give such notice or any defect in the notice to the holder of any such Security designated for redemption as a whole or in part shall not affect the
validity of the proceedings for the redemption of any other such Security. If the Company requests the Trustee to give any notice of redemption, it shall make such request at least ten days prior to the designated date for delivering such
notice, unless a shorter period is satisfactory to the Trustee. 
 Each such notice of redemption shall specify the date fixed for
redemption, the redemption price at which such Securities are to be redeemed, the CUSIP numbers of such Securities, the Place of Payment where such Securities, together, in the case of Bearer Securities, with all coupons appertaining thereto, if
any, maturing after the date of redemption, are to be surrendered for payment of the redemption prices, that payment will be made upon presentation and surrender of such Securities, that interest accrued to the date fixed for redemption will be paid
as 

  
 16 

 
specified in the notice, and that on and after the date interest thereon or on the portions thereof to be redeemed will cease to accrue. If less than all of a series is to be redeemed, the notice
of redemption shall specify the numbers of the Securities to be redeemed. In case any Security is to be redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof to be redeemed and shall state that, upon
surrender of such Security, a new Security or Securities of the same series in principal amount equal to the unredeemed portion thereof will be issued. 

On or before the redemption date specified in the notice of redemption given as provided in this Section, the Company will deposit in trust
with the Trustee or with one or more paying agents an amount of money sufficient to redeem on the redemption date all the Securities or portions of Securities so called for redemption at the appropriate redemption price, together with accrued
interest, if any, to the date fixed for redemption. If less than all of a series of Securities is to be redeemed, the Company will give the Trustee adequate written notice at least 45 days in advance (unless a shorter notice shall be
satisfactory to the Trustee) as to the aggregate principal amount of Securities to be redeemed. 
 If less than all the Securities of a
series are to be redeemed, the Trustee shall select, pro rata or by lot or in such other manner is it shall deem appropriate and fair, not more than 60 days prior to the date of redemption, the numbers of such Securities Outstanding not
previously called for redemption, to be redeemed in whole or in part. The portion of principal of Securities so selected for partial redemption shall be equal to the minimum authorized denomination for Securities of that series or any integral
multiple thereof. The Trustee shall promptly notify the Company of the Securities to be redeemed. If, however, less than all the Securities of a series having differing issue dates, interest rates and stated maturities are to be redeemed, the
Company in its sole discretion shall select the particular Securities of such series to be redeemed and shall notify the Trustee in writing at least 45 days prior to the relevant redemption date. 

SECTION 3.03. Payment of Securities Called for Redemption. 

If notice of redemption has been given as above provided, the Securities or portions of Securities with respect to which such notice has been
given shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with any interest accrued to the date fixed for redemption, and on and after that date (unless the Company shall
default in the payment of such Securities at the redemption price, together with interest accrued to that date) interest on such Securities or portions of Securities so called for redemption shall cease to accrue and the coupons, if any, for such
interest appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall be void. On presentation and surrender of such Securities subject to redemption at the Place of Payment and in the manner specified in such
notice, together with all coupons, if any, appertaining thereto and maturing after the date specified in such notice for redemption, such Securities or the specified portions thereof shall be paid and redeemed by the Company at the applicable
redemption price, together with interest accrued thereon to the date fixed for redemption; provided, however, that installments of interest on Bearer Securities whose stated maturity date is on or prior to the date of redemption shall
be payable only at an office or agency located outside the United States and its possessions (except as otherwise provided in Section 4.02) and, unless otherwise specified as contemplated by Section 2.03(b), only upon presentation and
surrender of coupons for such interest; and provided, further, that unless otherwise specified as contemplated by Section 2.03(b), installments of interest on Registered Securities whose stated maturity date is on or prior to the
date of redemption shall be payable to the holders of such Registered Securities, or one or more predecessor Securities, registered as such at the close of business on the relevant record dates according to their terms and the provisions of
Section 2.05. 
 At the option of the Company, payment with respect to Registered Securities may be made by check to the holders of
such Securities or other persons entitled thereto against presentation and surrender of such Securities. 
 If any Bearer Security
surrendered for redemption shall not be accompanied by all appurtenant coupons maturing after the date of redemption, such Security may be paid after deducting from the redemption price an amount equal to the face amount of all such missing coupons,
or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if there is furnished to them such security or indemnity as they may require to save each of them and any paying agent harmless. If thereafter the holder
of such Security shall surrender to the Trustee or any paying agent any such missing coupon in respect of which a deduction shall have been made 

  
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from the redemption price, such holder shall be entitled to receive the amount so deducted; provided, however, that interest represented by coupons shall be payable only at an
office or agency located outside the United States and its possessions (except as otherwise provided in Section 4.02) and, unless otherwise specified as contemplated by Section 2.03(b), only upon presentation and surrender of those
coupons. 
 Any Security (including any coupons appertaining thereto) that is to be redeemed only in part shall be surrendered at a Place of
Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the holder thereof or such holder’s attorney duly
authorized in writing), and upon such presentation, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Security or Securities of the same series,
of authorized denominations, in aggregate principal amount equal to the unredeemed portion of the principal of the Security so presented. If a temporary global Security or permanent global Security is so surrendered, such new Security so issued
shall be a new temporary global Security or permanent global Security, respectively. 
 SECTION 3.04. Redemption Suspended During Event of Default.

 The Trustee shall not redeem any Securities (unless all Securities then outstanding are to be redeemed) or commence the giving of any
notice of redemption of Securities during the continuance of any Event of Default of which a Responsible Officer of the Trustee has actual knowledge or notice, except that where the giving of notice of redemption of any Securities shall theretofore
have been made, the Trustee shall redeem such Securities, provided funds are deposited with it for such purpose. Except as aforesaid, any moneys theretofore or thereafter received by the Trustee shall, during the continuance of such Event of
Default, be held in trust for the benefit of the securityholders and applied in the manner set forth in Section 6.06; provided, however, that in case such Event of Default shall have been waived as provided herein or otherwise
cured, such moneys shall thereafter be held and applied in accordance with the provisions of this Article. 
 ARTICLE 4 

PARTICULAR COVENANTS OF THE COMPANY 

SECTION 4.01. Payment of Principal, Premium and Interest. 

The Company will duly and punctually pay or cause to be paid the principal of (and premium, if any, on) and any interest on each of the
Securities of a series at the place, at the respective times and in the manner provided in the terms of the Securities, any coupons appertaining thereto and this Indenture. Unless otherwise specified as contemplated by Section 2.03(b) with
respect to any series of Securities, any interest due on and any Additional Amounts payable in respect of Bearer Securities on or before maturity shall be payable only upon presentation and surrender of the several coupons for such interest
installments as are evidenced thereby as they severally mature.
 SECTION 4.02. Offices for Notices and Payments, etc. 

If Securities of a series are issuable only as Registered Securities, the Company will maintain in each Place of Payment for such series an
office or agency where Securities of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect
of the Securities of that series and this Indenture may be served. If Securities of a series are issuable as Bearer Securities, the Company will maintain (a) in the Borough of Manhattan, The City of New York (or in such other place or places in
the United States as the Company may designate from time to time by Company Order delivered to the Trustee), an office or agency where any Registered Securities of that series may be presented or surrendered for payment, where any Registered
Securities of that series may be surrendered for registration of transfer, where Securities of that series may be surrendered for exchange, where notices and demands to or upon the Company in respect of the Securities of that series and this
Indenture may be served and where Bearer Securities of that series and related coupons may be presented or surrendered for payment in the circumstances described below (and not otherwise), (b) subject to any laws or regulations applicable
thereto, in a Place of Payment for that series which is located outside the United States and its possessions, an office or agency where Securities of that series and related coupons may be presented and surrendered for payment; provided,
however, that if the Securities of that series are listed on The International Stock Exchange of the United 

  
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Kingdom and the Republic of Ireland, Limited, the Luxembourg Stock Exchange or any other stock exchange located outside the United States and its possessions and such stock exchange shall so
require, the Company will maintain a paying agent for the Securities of that series in London, Luxembourg or any other required city located outside the United States and its possessions, as the case may be, so long as the Securities of that series
are listed on such exchange, and (c) subject to any laws or regulations applicable thereto, in a Place of Payment for that series which is located outside the United States and its possessions, an office or agency where any Registered
Securities of that series may be surrendered for registration of transfer, where Securities of that series may be surrendered for exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this
Indenture may be served. 
 The Company will give to the Trustee notice of the location of each such office or agency and of any change in
the location thereof. In case the Company shall fail to maintain any such office or agency as required, or shall fail to give such notice of the location or of any change in the location thereof, presentations and surrenders of Securities of that
series may be made and notices and demands may be served at the principal corporate trust office of the Trustee, except that Bearer Securities of that series and the related coupons may be presented and surrendered for payment at any paying agent
for such series located outside the United States and its possessions or, if none have been so appointed, then at the London office of the Trustee, and the Company hereby appoints the same as its agent to receive such respective presentations,
surrenders, notices and demands. 
 No payment of principal, premium or interest on Bearer Securities shall be made at any office or agency
of the Company in the United States or its possessions or by check mailed to any address in the United States or its possessions or by transfer to any account maintained with a financial institution located in the United States or its possessions;
provided, however, that, if the Securities of a series are denominated and payable in Dollars, payment of principal of (and premium, if any) and any interest on any Bearer Security shall be made at the office of the Company’s
paying agent in the Borough of Manhattan, The City of New York (or in such other place or places in the United States as the Company may designate from time to time by Company Order delivered to the Trustee), if (but only if) payment in Dollars of
the full amount of such principal, premium, interest or Additional Amounts, as the case may be, at all offices or agencies outside the United States and its possessions maintained for the purpose by the Company in accordance with this Indenture is
illegal or effectively precluded by exchange controls or other similar restrictions. 
 The Company may also from time to time designate one
or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation
or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in accordance with the requirements set forth above for Securities of any series for such purposes. The Company will give prompt written notice
to the Trustee and the holders of any such designation or rescission and of any change in the location of any such other office or agency.

The Company hereby initially designates the principal corporate trust office of the Trustee as the office of the Company in the Borough of
Manhattan, The City of New York where Registered Securities may be presented for payment, for registration of transfer and for exchange as in this Indenture provided and where notices and demands to or upon the Company in respect of the Securities
or of this Indenture may be served. 
 SECTION 4.03. Provisions as to Paying Agent. 

(a) Whenever the Company shall appoint a paying agent other than the Trustee with respect to the Securities of any series, it will cause such
paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section: 

(1) that it will hold sums held by it as such agent for the payment of the principal of (and premium, if any, on) or any
interest on the Securities of such series (whether such sums have been paid to it by the Company or by any other obligor on the Securities of such series) in trust for the benefit of the persons entitled thereto until such sums shall be paid to such
persons or otherwise disposed of as herein provided and will notify the Trustee of the receipt of sums to be so held; 

  
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 (2) that it will give the Trustee notice of any failure by the Company (or
by any other obligor on the Securities of such series) to make any payment of the principal of (or premium, if any, on) or any interest on the Securities of such series when the same shall be due and payable; and 

(3) that at any time when any such failure has occurred and is continuing, it will, upon the written request of the Trustee,
forthwith pay to the Trustee all sums so held in trust by such paying agent. 
 (b) If the Company shall act as its own paying agent, it
will, on or before each due date of the principal of (and premium, if any) or any interest on the Securities of any series, set aside, segregate and hold in trust for the benefit of the persons entitled thereto a sum sufficient to pay such principal
(and premium, if any) or any interest so becoming due until such sums shall be paid to such persons or otherwise disposed of as herein provided. The Company will promptly notify the Trustee of any failure to take such action. 

(c) Whenever the Company shall have one or more paying agents with respect to a series of Securities, it will, on or prior to each due date of
the principal of (and premium, if any, on) or any interest on, any Securities, deposit with a paying agent a sum sufficient to pay the principal (and premium, if any) or any interest, so becoming due, such sum to be held in trust for the benefit of
the Persons entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 

(d) Anything in this Section to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining the satisfaction
and discharge of this Indenture with respect to one or more or all series of Securities hereunder, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust for such series by it or any paying agent hereunder as required
by this Section, such sums to be held by the Trustee upon the trusts herein contained, and upon such payment by any paying agent to the Trustee, such paying agent shall be released from all further liability with respect to such money. 

(e) Anything in this Section to the contrary notwithstanding, the agreement to hold sums in trust as provided in this Section is
subject to the provisions of Section 12.03 and Section 12.04. 
 SECTION 4.04. Statement as to Compliance. 

The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, commencing with the fiscal year
ending in the year during which the first series of Securities is issued hereunder (but in no event more than one year from the issuance of the first series hereunder), a written statement signed by the Chief Executive Officer, President or other
principal executive officer and by the Treasurer or other principal financial officer or principal accounting officer of the Company, stating, as to each signer thereof, that: 

(a) a review of the activities of the Company during such year and of performance under this Indenture has been made under his supervision;
and 
 (b) to the best of his knowledge, based on such review, the Company has fulfilled all its obligations under this Indenture throughout
such year, or, if there has been a default in the fulfillment of any such obligation, specifying each such default known to him and the nature and status thereof. 

SECTION 4.05. Corporate Existence. 

Subject to the provisions of Article 11, the Company will do or cause to be done all things necessary to preserve and keep in full force
and effect its corporate existence, rights (charter and statutory) and franchises and the corporate existence and rights (charter and statutory) and franchises of its subsidiaries; provided, however, that the Company shall not be
required to, or to cause any subsidiary to, preserve any right or franchise or to keep in full force and effect the corporate existence of any subsidiary if the Company shall determine that the keeping in existence or preservation thereof is no
longer desirable in or consistent with the conduct of the business of the Company. 

  
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 SECTION 4.06. Reserved. 

SECTION 4.07. Waiver of Covenants. 
 The
Company may omit in any particular instance to comply with any covenant or condition set forth herein if before or after the time for such compliance the holders of a majority in principal amount of the Securities of all series affected thereby then
Outstanding shall either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant or condition except to the extent so expressly waived, and,
until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such covenant or condition shall remain in full force and effect. 

SECTION 4.08. Notice of Default. 
 The
Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof, an Officers’ Certificate signed by its Chief Executive Officer, President, Chief Financial Officer or
Treasurer stating whether or not to the best knowledge of the signor thereof, the Company is in default in the performance or observance of any of the terms, provisions and conditions of this Indenture, and if the Company shall be in default,
specifying all such defaults and the nature and status thereof of which they may have knowledge. 
 ARTICLE 5 

SECURITYHOLDER LISTS AND 

REPORTS BY THE COMPANY AND THE TRUSTEE 

SECTION 5.01. Securityholder Lists. 
 The
Company covenants and agrees that it will furnish or cause to be furnished to the Trustee (1) semiannually, not later than January 15 and July 15 in each year, when any Securities of a series are Outstanding, a list, in such form as
the Trustee may reasonably require, of all information in the possession or control of the Company as to the names and addresses of the holders of such Registered Securities as of such date, and (2) at such other times as the Trustee may
request in writing, within 30 days after receipt by the Company of any such request, a list, in such form as the Trustee may reasonably require, of all information in the possession or control of the Company as to the names and addresses of the
holders of Registered Securities of a particular series specified by the Trustee as of a date not more than 15 days prior to the time such information is furnished; provided, however, that if and so long as the Trustee shall be
the Security Registrar with respect to such series, such list shall not be required to be furnished.
 SECTION 5.02. Preservation and Disclosure of
Lists. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and
addresses of the holders of each series of Securities contained in the most recent list furnished to it as provided in Section 5.01 or received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to
it as provided in Section 5.01 upon receipt of a new list so furnished. 
 (b) Securityholders may communicate as provided in
Section 312(b) of the Trust Indenture Act with other securityholders with respect to their rights under this Indenture or under the Securities. The Company, the Trustee, the Security Registrar and anyone else shall have the protection of
Section 312(c) of the Trust Indenture Act with respect to the sending of any material pursuant to a request made pursuant to Section 312(b) of the Trust Indenture Act. 

  
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 SECTION 5.03. Reports by the Company. 

The Company covenants so long as Securities are Outstanding: 

(a) to file with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies of the annual
reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company may be required to file with the Commission
pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of such sections, then to file with the Trustee and the Commission, in accordance
with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports that may be required pursuant to Section 13 of the Exchange Act in respect of a security listed
and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 
 (b) to file with
the Trustee and the Commission, in accordance with the rules and regulations prescribed from time to time by the Commission, such additional information, documents, and reports with respect to compliance by the Company with the conditions and
covenants provided for in this Indenture as may be required from time to time by such rules and regulations; and 
 (c) to transmit by mail
to all the holders of Registered Securities of each series, as the names and addresses of such holders appear on the registry books, within 30 days after the filing thereof with the Trustee, such summaries of any information, documents and
reports required to be filed by the Company with respect to each such series pursuant to subsections (a) and (b) of this Section as may be required by rules and regulations prescribed from time to time by the Commission. 

SECTION 5.04. Reports by the Trustee. 

(a) On or before July 15, so long as any Securities are outstanding hereunder and if there has been any change in the following, the Trustee
shall transmit by mail, first class postage prepared, to the securityholders, as their names appear upon the Security Register, a brief report dated as of the preceding May 15, if and to the extent required under Section 313(a) of the
Trust Indenture Act, detailing certain events that occurred within the previous 12 months. 
 (b) The Trustee shall comply with
Sections 313(b) and 313(c) of the Trust Indenture Act. 
 (c) A copy of each such report shall, at the time of such
transmission to securityholders, be filed by the Trustee with the Company, with each stock exchange upon which any Securities are listed (if so listed) and also with the Commission. The Company agrees to notify the Trustee when any Securities become
listed on any stock exchange.
 ARTICLE 6 

REMEDIES 
 SECTION 6.01. Events of
Default; Acceleration of Maturity. 
 In case one or more of the following Events of Default with respect to a particular series shall
have occurred and be continuing: 
 (a) default in (a) the payment of the principal of (or premium, if any, on) any of the Securities
of such series as and when the same shall become due and payable either at maturity, upon redemption, by declaration or otherwise or (b) any payment required by any sinking or analogous fund established with respect to that series; or 

(b) default in the payment of any installment of interest upon any of the Securities of such series as and when the same shall become due and
payable, and continuance of such default for a period of 30 days; or 

  
 22 

 (c) failure on the part of the Company duly to observe or perform any other of the covenants
or agreements on the part of the Company contained in the Securities or in this Indenture for a period of 90 days after the date on which written notice of such failure, requiring the Company to remedy the same, shall have been given to the
Company by the Trustee, or to the Company and the Trustee by the holders of at least 25% in aggregate principal amount of the Securities of that series at the time Outstanding; or 

(d) a court having jurisdiction in the premises shall enter a decree or order for relief in respect of the Company in an involuntary case
under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Company or for any substantial part of its
property, or ordering the winding-up or liquidation of its affairs and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or 

(e) the Company shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect,
or shall consent to the entry of an order for relief in an involuntary case under any such law, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or similar official)
of the Company or for any substantial part of its property, or shall make any general assignment for the benefit of creditors; or 
 (f) any
other Event of Default provided with respect to Securities of that series; 
 then, if an Event of Default described in clause (a), (b), (c), or
(f) shall have occurred and be continuing, and in each and every such case, unless the principal amount of all the Securities of such series shall have already become due and payable, either the Trustee or the holders of not less than 25% in
aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by securityholders) may declare the principal amount of all the Securities (or, with respect to
Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities) of that series to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and
payable, anything in this Indenture or in the Securities of such series contained to the contrary notwithstanding; or, if an Event of Default described in clause (d) or (e) shall have occurred and be continuing, and in each and every such
case, unless the principal of all the Securities of such series shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate principal amount of all the Securities of that series then Outstanding
hereunder, by notice in writing to the Company (and to the Trustee if given by securityholders), may declare the principal of all the Securities (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the
terms of such Securities) to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Securities contained to the contrary notwithstanding.

SECTION 6.02. Rescission and Annulment 

The provisions in Section 6.01 are subject to the condition that if, at any time after the principal of the Securities of any one or more
of all series, as the case may be, shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit
with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of such series or of all the Securities, as the case may be, and the principal of (and premium, if any, on) all Securities of such series or of all
the Securities, as the case may be (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities), which shall have become due otherwise than by acceleration (with interest upon such
principal and premium, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series or all
Securities, as the case may be (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the
case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made,
by the Trustee except as a result of its gross negligence or bad faith, and any and all defaults under the Indenture, other than the non-payment of the principal of Securities that has become due by
acceleration, shall have been remedied; then and in every such case the holders of a majority in aggregate principal amount of the Securities of such series (or of 

  
 23 

 
all the Securities, as the case may be) then Outstanding, by written notice to the Company and to the Trustee, may waive all defaults with respect to that series or with respect to all
Securities, as the case may be in such case, treated as a single class and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair
any right consequent thereon. 
 In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings
shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the
case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had
been taken. 
 SECTION 6.03. Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if 

(a) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable and such default
continues for a period of 90 days, or 
 (b) default is made in the payment of the principal or premium, if any, of any Security at the
maturity thereof, including any maturity occurring by reason of a call for redemption or otherwise, 
 the Company will, upon demand of the
Trustee, pay to it, for the benefit of the holders of such Securities and any coupons appertaining thereto, the whole amount that shall have become due and payable on such Securities and coupons for principal or premium, if any, and interest, with
interest upon the overdue principal and, to the extent that payment of such interest shall be legally enforceable, upon overdue installments of interest, at the rate borne by such Securities; and, in addition thereto, such further amount as shall be
sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may
institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceedings to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the
moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated.

If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of
the securityholders by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the
exercise of any power granted herein, or to enforce any other proper remedy. 
 SECTION 6.04. Trustee May File Proofs of Claim. 

In the case of the pendency of a receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be
due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention
in such proceeding or otherwise: 
 (a) to file and prove a claim for the whole amount of principal and premium, if any, and any interest
owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel) and of the holders of Securities and coupons allowed in such judicial proceeding; and 

  
 24 

 (b) to collect and receive any moneys or other property payable or deliverable on any such
claims and to distribute the same; 
 and any receiver, assignee, trustee, liquidator or sequestrator (or other similar official) in any such judicial
proceeding is hereby authorized by each holder of Securities and coupons to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the holders of Securities and coupons, to pay
to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.06. To the extent that such payment of
reasonable compensation, expenses, disbursements, advances and other amounts out of the estate in any such proceedings shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all
distributions, dividends, moneys, securities and other property which the holders of the Securities and coupons may be entitled to receive in such proceedings, whether in liquidation or under any plan or reorganization or arrangements or otherwise.

 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of the holder
of a Security or a coupon any plan of reorganization, arrangement, adjustment or composition affecting the Securities or coupons or the rights of any holder thereof, or to authorize the Trustee to vote in respect of the claim of any holder of a
Security or a coupon in any such proceeding. 
 SECTION 6.05. Trustee May Enforce Claims Without Possession of Securities or Coupons. 

All rights of action and claims under this Indenture or the Securities or coupons may be prosecuted and enforced by the Trustee without the
possession of any of the Securities or coupons or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of
judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Securities and coupons in respect of which such judgment
has been recovered. 
 SECTION 6.06. Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such money on account of principal or premium, if any, or any interest, upon presentation of the Securities or coupons, or both, as the case may be, and the notation thereon of the payment if only
partially paid and upon surrender thereof if fully paid: 
 FIRST: To the payment of all amounts due the Trustee under
Section 7.06;
 SECOND: To the payment of all senior indebtedness of the Company if and to the extent required by Article 16; 

THIRD: To the payment of the amounts then due and unpaid upon the Securities for principal of and premium, if any, and any interest on the
Securities and coupons, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities and coupons, for principal and
any interest, respectively; and 
 FOURTH: To the Company or its successors or assigns, or to whomsoever may be lawfully entitled to receive
the same. 

  
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 SECTION 6.07. Limitation on Suits. 

No holder of any Security of any series or any related coupons shall have any right to institute any proceeding, judicial or otherwise, with
respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 (1)
such holder has previously given written notice to the Trustee of a continuing Event of Default; 
 (2) the holders of not
less than 25% in principal amount of the Outstanding Securities of that series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(3) such holder or holders have offered to the Trustee reasonable security and indemnity satisfactory to the Trustee against
the costs, expenses and liabilities to be incurred in compliance with such request; 
 (4) the Trustee for 60 days after
its receipt of such notice, request and offer of reasonable security and indemnity has failed to institute any such proceedings; and 

(5) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the holders of a majority in principal amount of the Outstanding Securities; 
 it being understood and
intended that no one or more such holders of Securities shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such holders of
Securities or to obtain or to seek to obtain priority or preference over any other of such holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all such holders of
Securities. 
 SECTION 6.08. Unconditional Right of Securityholders to Receive Principal and Interest. 

Notwithstanding any other provision in this Indenture, the holder of any Security or coupon shall have the right, which is absolute and
unconditional, to receive payment of the principal of and premium, if any, and (subject to Section 2.05 and Section 3.02) any interest on such Security or payment of such coupon on the respective stated maturities expressed in such
Security or coupon (or, in the case of redemption, on the redemption date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such holder. 

SECTION 6.09. Restoration of Rights and Remedies. 

If the Trustee or any holder of a Security or coupon has instituted any proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such holder, then and in every such case the Company, the Trustee and the holders of Securities and coupons shall, subject to any
determination in such proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Trustee and the holders shall continue as though no such proceeding has been instituted. 

SECTION 6.10. Rights and Remedies Cumulative. 

Except as provided in Section 2.09, no right or remedy herein conferred upon or reserved to the Trustee or to the holders of Securities or
coupons is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or
in equity or otherwise. The assertion or employment of any right or remedy hereunder or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

  
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 SECTION 6.11. Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any holder of any Security or coupon to exercise any right or remedy accruing upon any Default shall
impair any such right or remedy or constitute a waiver of any such Default or any acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the holders of Securities or coupons may be exercised from time
to time, and as often as may be deemed expedient, by the Trustee or by the holders of Securities or coupons, as the case may be. 
 SECTION 6.12. Control
by Securityholders. 
 The holders of a majority in principal amount of Outstanding Securities of each series shall have the right to
direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee, provided that 

(1) such direction shall not be in conflict with any statute, rule of law or with this Indenture; 

(2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction; and 

(3) the Trustee need not take any action which it in good faith determines might involve it in personal liability or be
unjustly prejudicial to the securityholders not consenting. 
 Upon receipt by the Trustee of any such direction with respect to Securities
of a series all or part of which is represented by a temporary global Security or a permanent global Security, the Trustee shall establish a record date for determining holders of Outstanding Securities of such series entitled to join in such
direction, which record date shall be at the close of business on the day the Trustee receives such direction. The holders on such record date, or their duly designated proxies, and only such persons, shall be entitled to join in such direction,
whether or not such holders remain holders after such record date, provided that, unless such majority in principal amount shall have been obtained prior to the day which is 90 days after such record date, such direction shall automatically and
without further action by any holder be cancelled and of no further effect. Nothing in this paragraph shall prevent a holder, or a proxy of a holder, from giving, after expiration of such 90-day period, a new
direction identical to a direction which has been cancelled pursuant to the proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this Section 6.12. 

SECTION 6.13. Waiver of Past Defaults. 

The holders of a majority in principal amount of the Securities of each series at the time Outstanding may, on behalf of the holders of all the
Securities of that series and any coupons appertaining thereto, waive any past default hereunder and its consequences, except a default: 

(1) in the payment of the principal of, premium, if any, or any interest on any Security; or

(2) in respect of a covenant or provision hereof that pursuant to Article 10 cannot be modified or amended without the
consent of the holder of each Outstanding Security affected. 
 Upon any such waiver, such default shall cease to exist, and any Default or
Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

SECTION 6.14. Undertaking for Costs. 
 All
parties to this Indenture agree, and each holder of any Security or coupon by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this
Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such

  
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court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the
claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any holder, or group of holders, holding in the aggregate more than 10% in
principal amount of the Outstanding Securities of any series, or to any suit instituted by any holder of any Securities or coupons for the enforcement of the payment of the principal of, premium, if any, or any interest on any Security or the
payment of any coupon on or after the respective stated maturities expressed in such Security or coupon (or, in the case of redemption, on or after the redemption date, except, in the case of a partial redemption, with respect to the portion not so
redeemed). 
 SECTION 6.15. Waiver of Stay or Extension Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay or extension laws wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may
lawfully do so) hereby expressly waives all benefits or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every
such power as though no such law had been enacted. 
 ARTICLE 7 

CONCERNING THE TRUSTEE 
 SECTION 7.01.
Duties and Responsibilities of Trustee. 
 (a) The Trustee, prior to the occurrence of an Event of Default of a particular series and
after the curing of all Events of Default of such series which may have occurred, undertakes to perform such duties and only such duties with respect to such series as are specifically set forth in this Indenture, and no implied covenants or
obligations shall be read into this Indenture against the Trustee. In the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein,
upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the
Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture. 

(b) In case an Event of Default with respect to a particular series has occurred (which has not been cured), the Trustee shall exercise with
respect to such series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.

(c) No provisions of this Indenture shall be construed to relieve the Trustee from liability for its own grossly negligent action, its own
grossly negligent failure to act, or its own willful misconduct, except that: 
 (1) prior to the occurrence of an Event of
Default with respect to a particular series and after the curing of all Events of Default with respect to such series which may have occurred, the duties and obligations of the Trustee with respect to such series shall be determined solely by the
express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this
Indenture against the Trustee; 
 (2) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer or Officers, unless it shall be proved that the Trustee was grossly negligent in ascertaining the pertinent facts; and 

(3) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance
with the direction of the holders of Securities pursuant to Section 6.12 relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee,
under this Indenture. 

  
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 (d) No provision of this Indenture shall be construed as requiring the Trustee to expend or
risk its own funds or otherwise to incur any personal financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such
funds or adequate indemnity against such risk or liability is not reasonably assured to it. 
 SECTION 7.02. Reliance on Documents, Opinions, etc.

 Subject to the provisions of Section 7.01: 

(a) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, consent, order, bond, debenture, note, coupon or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

(b) any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company
Order (unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to the Trustee by a copy thereof certified by the Secretary or any Assistant Secretary of the Company; and whenever in the
administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in
the absence of bad faith on its part, rely upon an Officers’ Certificate; 
 (c) the Trustee may consult with counsel and the written
advice of such counsel and any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(d) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or
direction of any of the holders of any Securities or any related coupons pursuant to the provisions of this Indenture, unless such holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities
which might be incurred therein or thereby; 
 (e) the Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper or documents, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or
attorney;
 (f) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or
through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 

(g) the Trustee shall not be liable for any action taken, suffered or omitted to be taken by it in good faith and believed by it to be
authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (h) the Trustee shall not be required to
advance any of its own funds or otherwise incur any personal financial liabilities in the performance of its obligations hereunder (other than the normal operating expenses incurred by Trustee to perform its obligations) unless it has received
assurances satisfactory to it that it will be repaid; 
 (i) the Trustee shall have no responsibility with respect to any information,
statement or recital in any offering memorandum, remarketing circular or other disclosure material prepared or distributed with respect to the 

  
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Securities except for written information provided by the Trustee specifically for inclusion in such document. The Trustee shall have no responsibility for compliance with any state or federal
securities laws in connection with the offering and sale of the Securities except for those applicable to Trustee; 
 (j) the Trustee shall
have no duty to monitor the Company’s compliance with the terms of the Indenture except as specifically provided herein and makes no representations as to the validity or sufficiency of this Indenture (except as to the Trustee) or the
Securities, assumes no responsibility for the correctness of the same, shall incur no responsibility in respect to such validity or sufficiency, and its receipt of any report, document, policy or other certificate thereunder shall not impose a duty
to review and shall not constitute constructive notice of any information contained therein or determinable from information contained therein; 

(k) the Trustee shall have no duty to review or analyze any financial statements or other information filed with the Trustee by any party. The
Trustee shall not be deemed to have notice of any information contained therein or event of default which may be disclosed in any manner therein; and 

(l) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the
direction of the holders of any Securities relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture or any other
documents relating to the Securities. 
 SECTION 7.03. No Responsibility for Recitals, etc. 

The recitals contained herein and in the Securities, other than the Trustee’s certificate of authentication, and in any coupons shall be
taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities or coupons, provided
that the Trustee shall not be relieved of its duty to authenticate Securities only as authorized by this Indenture. The Trustee shall not be accountable for the use or application by the Company of Securities or the proceeds thereof. 

SECTION 7.04. Ownership of Securities. 

The Trustee, any authenticating agent, any paying agent, any Security Registrar or any other agent of the Company or of the Trustee, in its
individual or any other capacity, may become the owner or pledgee of Securities and coupons with the same rights it would have if it were not Trustee, authenticating agent, paying agent, Security Registrar or such other agent of the Company or of
the Trustee. 
 SECTION 7.05. Moneys to be Held in Trust. 

Subject to the provisions of Section 12.04 hereof, all moneys received by the Trustee or any paying agent shall, until used or applied as
herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. Neither the Trustee nor any paying agent shall be under any liability for interest on
any moneys received by it hereunder except such as it may agree in writing with the Company to pay thereon. 
 SECTION 7.06. Compensation and Expenses of
Trustee. 
 The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such
compensation for all services rendered by it hereunder as the Company and the Trustee shall from time to time agree in writing (which to the extent permitted by law shall not be limited by any provision of law in regard to the compensation of a
trustee of an express trust), and, except as otherwise expressly provided, the Company will pay or reimburse the Trustee forthwith upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance
with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all persons not regularly in its employ) except any such expense, disbursement or advance as may arise from
its gross negligence or bad faith. If any property other than cash shall at any time be subject to the lien of this Indenture, the Trustee, if and to the extent 

  
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authorized by a receivership or bankruptcy court of competent jurisdiction or by the supplemental instrument subjecting such property to such lien, shall be entitled to make and to be reimbursed
for, advances for the purpose of preserving such property or of discharging tax liens or other prior liens or encumbrances thereon. The Company also covenants to indemnify the Trustee for, and to hold it harmless against, any and all loss, damage,
claims, liability or expense (including reasonable attorneys’ fees and expenses and the reasonable allocated costs and expenses of in-house counsel and legal staff), including taxes (other than taxes based upon, measured or determined by, the
income of the Trustee) incurred without gross negligence or bad faith on the part of the Trustee, arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of defending itself against any
claim of liability or loss. The obligations of the Company under this Section shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that of the Securities upon all property and
funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities.
 To
secure the Company’s obligations under this Section, the Trustee shall have a senior claim to which the Securities are hereby made subordinate on all money or property held or collected by the Trustee, except that held in trust to pay principal
of (and premium, if any) and interest, if any, on particular Securities. 
 When the Trustee incurs expenses or renders services after an
Event of Default, the expenses and the compensation for the services are intended to constitute expenses of administration under any bankruptcy law. 

SECTION 7.07. Officers’ Certificate as Evidence. 

Subject to the provisions of Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it
necessary or desirable that a matter be proved or established prior to taking or suffering any action to be taken hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of gross
negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee, and such certificate, in the absence of gross negligence or bad faith on the part of
the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture upon the faith thereof. 

SECTION 7.08. Disqualifications; Conflicting Interest of Trustee. 

If the Trustee has or shall acquire any “conflicting interest” within the meaning of the Trust Indenture Act, the Trustee and the
Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 
 SECTION 7.09. Eligibility of Trustee.

 There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United
States or of any State or Territory thereof or of the District of Columbia, which (a) is authorized under such laws to exercise corporate trust powers, (b) is subject to supervision or examination by federal, state, territorial or District
of Columbia authority, (c) shall have at all times a combined capital and surplus of not less than $5,000,000 and (d) shall not be the Company or any person directly or indirectly controlling, controlled by, or under common control with
the Company. If such corporation publishes reports of condition at least annually, pursuant to law, or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus
of such corporation at any time shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of
this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 7.10. 
 SECTION 7.10. Resignation or
Removal of Trustee. 
 (a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or
more or all series by giving written notice of resignation to the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee with respect to the applicable series by written instrument,

  
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in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee
shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. Such
court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 
 (b) In case at any time
any of the following shall occur: 
 (1) the Trustee shall fail to comply with the provisions of subsection (a) of
Section 7.08 with respect to any series of Securities after written request therefor by the Company or by any securityholder who has been a bona fide holder of a Security or Securities of such series for at least six months, or

(2) the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 with respect to any series of
Securities and shall fail to resign after written request therefor by the Company or by any such securityholder, or 
 (3)
the Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or
control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
 then, in any such case, the Company
may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee with respect to such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument
shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 6.14, any securityholder of such series who has been a bona fide holder of a Security or Securities of the applicable
series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such series. Such
court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 

(c) The holders of a majority in aggregate principal amount of the Securities of all series (voting as one class) at the time Outstanding may
at any time remove the Trustee with respect to Securities of all series and appoint a successor trustee with respect to the Securities of all series. 

(d) Any resignation or removal of the Trustee and any appointment of a successor trustee pursuant to any of the provisions of this
Section shall become effective upon the appointment of a successor trustee and the acceptance of appointment by the successor trustee as provided in Section 7.11. 

SECTION 7.11. Acceptance by Successor Trustee. 

Any successor trustee appointed as provided in Section 7.10 shall execute, acknowledge and deliver to the Company and to its predecessor
trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee with respect to all or any applicable series shall become effective and such successor trustee, without any further act,
deed or conveyance, shall become vested with all the rights, powers, duties and obligations with respect to such series of its predecessor hereunder, with like effect as if originally named as trustee herein; but, nevertheless, on the written
request of the Company or of the successor trustee, the predecessor trustee shall, upon payment of any amounts then due it pursuant to the provisions of Section 7.06, execute and deliver an instrument transferring to such successor trustee all
the rights and powers of the predecessor trustee. Upon request of any such successor trustee, the Company shall execute any and all instruments in writing in order more fully and certainly to vest in and confirm to such successor trustee all such
rights and powers. Any trustee, including the initial Trustee, ceasing to act shall, nevertheless, retain a lien upon all property or funds held or collected by such trustee to secure any amounts then due it pursuant to the provisions of
Section 7.06. 
 In case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not
all) series, the Company, the predecessor Trustee and each successor trustee with respect to the Securities of 

  
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any applicable series shall execute and deliver an indenture supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights,
powers, trusts and duties of the predecessor Trustee with respect to the Securities of any series as to which the predecessor Trustee is not retiring shall continue to be vested in the predecessor Trustee, and shall add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such
trustees co-trustees of the same trust and that each such trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such
trustee.
 No successor trustee shall accept appointment as provided in this Section unless at the time of such acceptance such
successor trustee shall be qualified and eligible under the provisions of this Article 7. 
 Upon acceptance of appointment by a
successor trustee as provided in this Section, the Company shall mail notice of the succession of such trustee hereunder to all holders of Securities of any applicable series as the names and addresses of such holders shall appear on the registry
books. If the Company fails to mail such notice in the prescribed manner within ten days after the acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be so mailed at the expense of the Company.

 SECTION 7.12. Successor by Merger, etc. 

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such
corporation shall be qualified and eligible under the provisions of this Article 7, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In
case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so
authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 
 SECTION 7.13. Limitations on Rights of
Trustee as Creditor. 
 The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor
relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein. 

SECTION 7.14. Notice of Default. 
 Within
90 days after the occurrence of any default on a series of Securities hereunder, the Trustee shall transmit to all securityholders of that series, in the manner and to the extent provided in Section 15.04, notice of such default hereunder
known to the Trustee, unless such default shall have been cured or waived; provided, however, that except in the case of a default in the payment of the principal of or interest on any Security or on the payment of any sinking or
purchase fund installment, the Trustee shall be protected in withholding such notice if and so long as the trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the
interests of the security-holders; and provided, further, that in the case of any default of the character specified in clause (c) of Section 6.01 no such notice to securityholders shall be given until at least 30 days
after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series. 

SECTION 7.15. Appointment of Authenticating Agent. 

The Trustee may appoint an authenticating agent or agents (which may be an affiliate or affiliates of the Company) with respect to one or more
series of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon original issue or upon exchange, registration of transfer or 

  
 33 

 
partial redemption thereof or pursuant to Section 2.09, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes
as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include
authentication and delivery on behalf of the Trustee by an authenticating agent and a certificate of authentication executed on behalf of the Trustee by an authenticating agent. Each authenticating agent shall be acceptable to the Company and shall
at all times be a corporation organized and doing business under the laws of the United States of America or of any State or Territory thereof or of the District of Columbia, which (a) is authorized under such laws to exercise corporate trust
powers or to otherwise act as authenticating agent, (b) is subject to supervision or examination by federal, state, territorial or District of Columbia authority, and (c) shall have at all times a combined capital and surplus of not less
than $5,000,000. If such authenticating agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and
surplus of such authenticating agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an authenticating agent shall cease to be eligible in accordance with the
provisions of this Section, such authenticating agent shall resign immediately in the manner and with the effect specified in this Section. 

Any corporation into which an authenticating agent may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which such authenticating agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of such authenticating agent, shall continue to be an
authenticating agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or such authenticating agent. 

An authenticating agent may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time
terminate the agency of an authenticating agent by giving written notice thereof to such authenticating agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such authenticating
agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor authenticating agent which shall be acceptable to the Company and shall promptly give notice of such appointment to all holders
of Securities in the manner and to the extent provided in Section 15.04. Any successor authenticating agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder,
with like effect as if originally named as an authenticating agent. No successor authenticating agent shall be appointed unless eligible under the provisions of this Section. 

The Trustee agrees to pay to each authenticating agent from time to time reasonable compensation for its services under this Section, and the
Trustee shall be entitled to be reimbursed for such payments, subject to the provisions of Section 7.06. 
 If an appointment with
respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication in the following
form: 
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	U.S. Bank National Association, as Trustee
		
	By:	 	  

		 	Authorized Signatory

 If all of the Securities of a series may not be originally issued at one time, and the Trustee does not
have an office capable of authenticating Securities upon original issuance located in a Place of Payment where the Company 

  
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wishes to have Securities of such series authenticated upon original issuance, the Trustee, if so requested by the Company in writing, shall appoint in accordance with this Section an
authenticating agent (which, if so requested by the Company, shall be such affiliate of the Company) having an office in a Place of Payment designated by the Company with respect to such series of Securities, provided that the terms and
conditions of such appointment are acceptable to the Trustee.
 ARTICLE 8 

CONCERNING THE SECURITYHOLDERS 
 SECTION
8.01. Action by Securityholders. 
 Whenever in this Indenture it is provided that the holders of a specified percentage in aggregate
principal amount of the Securities of any or all series may take any action (including the making of any demand or request, the giving of any authorization, notice, consent or waiver or the taking of any other action), the fact that at the time of
taking any such action the holders of such specified percentage have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by securityholders in person or by agent or proxy appointed in
writing, or (b) if Securities of a series are issuable as Bearer Securities, by the record of the holders of Securities voting in favor thereof, either in person or by proxies duly appointed in writing, at any meeting of securityholders of such
series duly called and held in accordance with the provisions of Article 9, or (c) by a combination of such instrument or instruments and any such record of such a meeting of securityholders. 

In determining whether the holders of a specified percentage in aggregate principal amount of the Securities of any or all series have taken
any action (including the making of any demand or request, the giving of any authorization, direction, notice, consent or waiver or the taking of any other action), (i) the principal amount of any Original Issue Discount Security that may be
counted in making such determination and that shall be deemed to be outstanding for such purposes shall be equal to the amount of the principal thereof that could be declared to be due and payable upon an Event of Default pursuant to the terms of
such Original Issue Discount Security at the time the taking of such of such action is evidenced to the Trustee, and (ii) the principal amount of a Security denominated in a foreign currency or currency unit shall be the U.S. dollar
equivalent, determined as of the date of original issuance of such Security in accordance with Section 2.03(b) hereof, of the principal amount of such Security. 

SECTION 8.02. Proof of Execution by Securityholders. 

Subject to the provisions of Section 7.01, Section 7.02 and Section 9.05, proof of the execution of any instrument by a
securityholder or its agent or proxy, or of the holding by any person of a Security, shall be sufficient and conclusive in favor of the Trustee and the Company if made in accordance with such reasonable rules and regulations as may be prescribed by
the Trustee or in such manner as shall be satisfactory to the Trustee. 
 The principal amount and serial numbers of Registered Securities
held by any person, and the date of holding the same, shall be proved by the Security Register. The principal amount and serial numbers of Bearer Securities held by any person, and the date of holding the same, may be proved by the production of
such Bearer Securities or by a certificate executed, as depositary, by any trust company, bank, banker or other depositary, wherever situated, if such certificate shall be deemed by the Trustee to be satisfactory, showing that at the date therein
mentioned such person had on deposit with such depositary, or exhibited to it, the Bearer Securities therein described; or such facts may be proved by the certificate or affidavit of the person holding such Bearer Securities, if such certificate or
affidavit is deemed by the Trustee to be satisfactory. The Trustee and the Company may assume that such ownership of any Bearer Security continues until (1) another certificate or affidavit bearing a later date issued in respect of the same
Bearer Security is produced, or (2) such Bearer Security is produced to the Trustee by some other person, or (3) such Bearer Security is surrendered in exchange for a Registered Security, or (4) such Bearer Security is no longer
Outstanding. The principal amount and serial numbers of Bearer Securities held by any person, and the date of holding the same, may also be provided in any other manner which the Trustee deems sufficient. 

The record of any securityholders’ meeting shall be proved in the manner provided in Section 9.06.

  
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 SECTION 8.03. Who Are Deemed Absolute Owners. 

Prior to due presentment of a Registered Security for registration of transfer, the Company, the Trustee and any agent of the Company or of the
Trustee may deem the person in whose name such Registered Security shall be registered upon the Security Register to be, and may treat him as, the absolute owner of such Registered Security (whether or not such Security shall be overdue and
notwithstanding any notation of ownership or other writing thereon), for the purpose of receiving payment of or on account of the principal of (and premium, if any) and, subject to the provisions of Section 2.05 and Section 2.07, any
interest on such Security and for all other purposes; and neither the Company nor the Trustee nor any agent of the Company or of the Trustee shall be affected by any notice to the contrary. All such payments so made to any holder for the time being,
or upon his order, shall be valid and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. 

Title to any Bearer Security and any coupons appertaining thereto shall pass by delivery. The Company, the Trustee and any agent of the
Company or of the Trustee may treat the bearer of any Bearer Security and the bearer of any coupon as the owner of such Security or coupon for the purpose of receiving payment thereof or on account thereof and for all other purposes whatsoever,
whether or not such Security or coupon be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

Notwithstanding the foregoing, with respect to any temporary or permanent global Security, nothing herein shall prevent the Company, the
Trustee, or any agent of the Company or of the Trustee, from giving effect to any written certification, proxy or other authorization furnished by a Common Depositary or a U.S. Depositary, as the case may be, or impair, as between a Common
Depositary or a U.S. Depositary and holders of beneficial interests in any temporary or permanent global Security, as the case may be, the operation of customary practices governing the exercise of the rights of the Common Depositary or the
U.S. Depositary as holder of such temporary or permanent global Security. 
 SECTION 8.04. Company-Owned Securities Disregarded. 

In determining whether the holders of the required aggregate principal amount of Securities have provided any request, demand, authorization,
notice, direction, consent or waiver under this Indenture, Securities which are owned by the Company or any other obligor on the Securities, or by any person directly or indirectly controlling or controlled by or under direct or indirect common
control with the Company or any other obligor on the Securities, shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in
relying on any such request, demand, authorization, direction, notice, consent or waiver, only Securities which the Trustee knows are so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as
Outstanding for the purposes of this Section if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to vote such Securities and that the pledgee is not a person directly or indirectly controlling or
controlled by or under direct or indirect common control with the Company or any such other obligor. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee.

 SECTION 8.05. Revocation of Consents; Future Securityholders Bound. 

At any time prior to the taking of any action by the holders of the percentage in aggregate principal amount of the Securities specified in
this Indenture in connection with such action, any holder of a Security, the identifying number of which is shown by the evidence to be included in the Securities the holders of which have consented to such action, may, by filing written notice with
the Trustee at its office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon
such holder and upon all future holders and owners of such Security and of any Security issued upon registration of transfer of or in exchange or substitution therefor in respect of anything done, omitted or suffered to be done by the Trustee or the
Company in reliance thereon, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the holders of the percentage in aggregate principal amount of the Securities specified in this Indenture in
connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities.

  
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 SECTION 8.06. Record Date. 

The Company may, but shall not be obligated to, set a record date for purposes of determining the identity of holders of Securities of any
series entitled to vote or consent to any action by vote or consent or to otherwise take any action under this Indenture authorized or permitted by Section 6.12 and Section 6.13 or otherwise under this Indenture. Such record date shall be
the later of (i) the date 20 days prior to the first solicitation of such consent or vote or other action and (ii) the date of the most recent list of holders of such Securities delivered to the principal corporate trust office of the
Trustee pursuant to Section 5.01 prior to such solicitation. If such a record date is fixed, those persons who were holders of such Securities at the close of business on such record date shall be entitled to vote or consent or take such other
action, or to revoke any such action, whether or not such persons continue to be holders after such record date, and for that purpose the Outstanding Securities shall be computed as of such record date. 

ARTICLE 9 

SECURITYHOLDERS’ MEETINGS 
 SECTION
9.01. Purposes of Meeting. 
 A meeting of holders of any or all series of Securities may be called at any time and from time to time
pursuant to the provisions of this Article for any of the following purposes: 
 (a) to give any notice to the Company or to the
Trustee, or to give any directions to the Trustee, or to waive any default hereunder and its consequences, or to take any other action authorized to be taken by securityholders pursuant to any of the provisions of Article 6; 

(b) to remove the Trustee and appoint a successor trustee pursuant to the provisions of Article 7; 

(c) to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of Section 10.02; or 

(d) to take any other action authorized to be taken by or on behalf of the holders of any specified aggregate principal amount of the
Securities of any or all series, as the case may be, under any other provision of this Indenture or under applicable law. 
 SECTION 9.02. Call of
Meetings by Trustee. 
 The Trustee may at any time call a meeting of security-holders of any or all series to take any action specified
in Section 9.01, to be held at such time and at such place in New York, New York or Philadelphia, Pennsylvania as the Trustee shall determine. Notice of every meeting of the securityholders of any or all series, setting forth the time and place
of such meeting and in general terms the action proposed to be taken at such meeting, shall be given in the manner provided in Section 15.04 not less than 20 nor more than 180 days prior to the date fixed for the meeting. 

SECTION 9.03. Call of Meetings by Company or Securityholders. 

In case at any time the Company, pursuant to a Board Resolution, or the holders of at least 10% in aggregate principal amount of the Securities
of any or all series, as the case may be, then Outstanding, shall have requested the Trustee to call a meeting of securityholders of any or all series to take any action authorized in Section 9.01, by written request setting forth in reasonable
detail the action proposed to be taken at the meeting, and the Trustee shall not have provided notice of such meeting in the manner provided in Section 15.04 within 30 days after receipt of such request, then the Company or the holders of
such Securities in the amount above specified may determine the time and the place in New York, New York or Philadelphia, Pennsylvania for such meeting and may call such meeting by giving notice thereof as provided in Section 9.02.

  
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 SECTION 9.04. Qualifications for Voting. 

To be entitled to vote at any meeting of securityholders a person shall be a holder of one or more Securities of such series Outstanding with
respect to which a meeting is being held or a person appointed by an instrument in writing as proxy by such a holder or holders. The only persons who shall be entitled to be present or to speak at any meeting of the securityholders of any series
shall be the persons entitled to vote at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company and its counsel. 

SECTION 9.05. Regulations. 

Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any
meeting of securityholders of a series, in regard to proof of the holding of Securities and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates
and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it deems fit. Except as otherwise permitted or required by any such regulations, the holding of Securities shall be proved in the manner
specified in Article 8 and the appointment of any proxy shall be proved in the manner specified in Article 8 or by having the signature of the person executing the proxy witnessed or guaranteed by any trust company, bank or banker
authorized by Article 8 to certify to the holding of Bearer Securities. Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in
Article 8 or other proof. 
 The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the
meeting shall have been called by the Company or by securityholders as provided in Section 9.03, in which case the Company or the securityholders calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A
permanent chairman and a permanent secretary of the meeting shall be elected by vote of the holders of a majority in principal amount of the Securities represented at the meeting and entitled to vote. 

Subject to the provisions of Section 8.01 and Section 8.04, at any meeting each securityholder or proxy shall be entitled to one
vote for each $1,000 (or the U.S. Dollar equivalent thereof in connection with Securities issued in a foreign currency or currency unit) Outstanding 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 securityholder or proxy. Any meeting of securityholders duly called pursuant to the provisions of Section 9.02 or Section 9.03 may be adjourned from time to time, and the meeting may be reconvened without further notice. 

SECTION 9.06. Voting. 
 The vote upon any
resolution submitted to any meeting of securityholders shall be by written ballot on which shall be subscribed the signatures of the securityholders or proxies and on which shall be inscribed the identifying number or numbers or to which shall be
attached a list of identifying numbers of the Securities held or represented by them. The chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make
and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting of securityholders shall be prepared by the secretary of the meeting
and there shall be attached to the record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the notice of the meeting and
showing that the notice was mailed as provided in Section 9.02. The record shall be signed and verified by the chairman and secretary of the meeting and one of the duplicates shall be delivered to the Company and the other to the Trustee to be
preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. 
 Any record so signed and verified shall
be conclusive evidence of the matters therein stated.

  
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 ARTICLE 10 

SUPPLEMENTAL INDENTURES 
 SECTION 10.01.
Supplemental Indentures without Consent of Securityholders. 
 Without the consent of any holders of Securities or coupons, the Company,
when authorized by or pursuant to Board Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as in force at the
date of the execution thereof) for one or more of the following purposes: 
 (a) to evidence the succession of another corporation to the
Company, or successive successions, pursuant to Article 11 hereof, and the assumption by the successor corporation of the covenants, agreements and obligations of the Company herein and in the Securities; 

(b) to add to the covenants of the Company such further covenants, restrictions, conditions or provisions as its Board of Directors shall
consider to be for the protection of the holders of Securities, and to make the occurrence, or the occurrence and continuance, of a default in any of such additional covenants, restrictions, conditions or provisions an Event of Default permitting
the enforcement of all or any of the several remedies provided in this Indenture as herein set forth, with such period of grace, if any, and subject to such conditions as such supplemental indenture may provide; 

(c) to add to or change any of the provisions of this Indenture to provide that Bearer Securities may be registrable as to principal, to
change or eliminate any restrictions on the payment of principal of or any premium or interest on Bearer Securities, to permit Bearer Securities to be issued in exchange for Registered Securities, to permit Bearer Securities to be issued in exchange
for Bearer Securities of other authorized denominations or to permit or facilitate the issuance of Securities in uncertificated form, provided that any such action shall not adversely affect the interests of the holders of Securities of any series
or any related coupons in any material respect; 
 (d) to modify, eliminate or add to the provisions of this Indenture to such extent as
shall be necessary to effect the qualification of this Indenture under the Trust Indenture Act, or under any similar federal statute hereafter enacted, and to add to this Indenture such other provisions as may be expressly permitted by the Trust
Indenture Act, excluding however, the provisions referred to in Section 316(a)(2) of the Trust Indenture Act or any corresponding provision in any similar federal statute hereafter enacted; 

(e) to modify, eliminate or add to any of the provisions of this Indenture, provided that any such change or elimination (i) shall become
effective only when there is no Security of any series Outstanding and created prior to the execution of such supplemental indenture that is entitled to the benefit of such provision or (ii) shall not apply to any Security Outstanding; 

(f) to cure any ambiguity or to correct or supplement any provision contained herein or in any supplemental indenture which may be defective
or inconsistent with any other provisions contained herein or in any supplemental indenture; to convey, transfer, assign, mortgage or pledge any property to or with the Trustee; or to make such other provisions in regard to matters or questions
arising under this Indenture, provided such other provisions shall not adversely affect in any material respect the interests of the holders of the Securities or any related coupons, including provisions necessary or desirable to provide for
or facilitate the administration of the trusts hereunder; 
 (g) to secure any series of Security; 

(h) to evidence and provide for the acceptance and appointment hereunder by a successor trustee with respect to the Securities of one or more
series and to add or change any provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, pursuant to Section 7.11; 

  
 39 

 (i) to supplement any provisions of this Indenture necessary to permit or facilitate the
defeasance and discharge of any series of Securities, provided that such action does not adversely affect the interests of the holders of the Securities of such series or any other series; 

(j) to comply with the rules or regulations of any securities exchange or automated quotation system on which any of the Securities may be
listed or traded; and 
 (k) to provide for uncertificated Securities in addition to certificated Securities.

The Trustee is hereby authorized to join with the Company in the execution of any such supplemental indenture, to make any further appropriate
agreements and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder, but the Trustee shall not be obligated to enter into any such supplemental indenture which
adversely affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. No supplemental indenture shall be effective as against the Trustee unless and until the Trustee has duly executed and delivered the same. 

SECTION 10.02. Supplemental Indentures with Consent of Holders. 

With the consent (evidenced as provided in Section 8.01) of the holders of not less than a majority (or such higher amount as may be
required by law) in aggregate principal amount of the Securities of all series at the time Outstanding affected by such supplemental indenture (voting as one class), the Company, when authorized by a Board Resolution, and the Trustee may from time
to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as in force at the date of the execution thereof) for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of the Securities of such series and any related coupons under this Indenture;
provided, however, that no such supplemental indenture shall: (1) change the stated maturity of the principal of, or any installment of principal of or interest, if any, on, any Security, or reduce the principal amount thereof or
premium, if any, on or the rate of interest thereon, or adversely affect any right to convert or exchange any Security into any other security, or alter the method of computation of interest, or make any Security payable in money other than that
stated in such Security; (2) reduce the percentage in principal amount of Securities required for any such supplemental indenture or for any waiver provided for in this Indenture; (3) change the Company’s obligation to maintain an
office or agency for payment of Securities and the other matters specified herein; (4) impair the right to institute suit for the enforcement of any payment of principal of, premium, if any, or interest on, any Security; (5) modify the
provisions of this Indenture with respect to the subordination of any Security in a manner adverse to the holder thereof; or (6) modify any of the provisions of this Indenture relating to the execution of supplemental indentures with the
consent of holders of Securities which are discussed in this Section or modify any provisions relating to the waiver by holders of Securities of past defaults and covenants, except to increase any required percentage or to provide that other
provisions of this Indenture cannot be modified or waived without the consent of the holder of each Outstanding Security affected thereby. 

Upon the request of the Company, accompanied by a copy of a Board Resolution certified by the Secretary or an Assistant Secretary of the
Company authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of securityholders as aforesaid, the Trustee shall join with the Company in the execution of such supplemental
indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental
indenture. 
 It shall not be necessary for the consent of the securityholders under this Section to approve the particular form of any
proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 
 Promptly after the
execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Article 10, the Company shall provide notice, in the manner and to the extent provided in Section 15.04, setting forth in general
terms the substance of such supplemental indenture, to all holders of Securities of each series so affected. Any failure of the Company so to provide such notice, or any defect therein, shall not, however, in any way impair or affect the validity of
any such supplemental indenture. 

  
 40 

 SECTION 10.03. Compliance with Trust Indenture Act; Effect of Supplemental Indentures. 

Any supplemental indenture executed pursuant to the provisions of this Article 10 shall comply with the Trust Indenture Act, as then in
effect. Upon the execution of any supplemental indenture pursuant to the provisions of this Article 10 and subject to the provisions in any supplemental indenture relating to the prospective application of such instrument, this Indenture shall
be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the holders of Securities theretofore or
thereafter authenticated and delivered hereunder and of any coupons appertaining thereto shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions
of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 

The Trustee, subject to the provisions of Section 7.01 and Section 7.02, shall be entitled to receive and shall be fully protected
in relying upon an Opinion of Counsel as conclusive evidence that any such supplemental indenture complies with the provisions of this Article 10.

SECTION 10.04. Notation on Securities. 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this
Article 10 may bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. New Securities of any series so modified as to conform, in the opinion of the Trustee and the Board of Directors, to
any modification of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered, without charge to the securityholders, in exchange for the Securities of such series then
Outstanding. 
 ARTICLE 11 

CONSOLIDATION, MERGER, SALE OR CONVEYANCE 

SECTION 11.01. Company May Consolidate, etc., on Certain Terms. 

The Company covenants that it will not merge into or consolidate with any other corporation or sell or convey all or substantially all of its
assets to any person, firm or corporation, unless (1) either the Company shall be the continuing corporation, or the successor corporation (if other than the Company) shall be a corporation organized and existing under the laws of the United
States of America or a state thereof or the District of Columbia and such corporation shall expressly assume the due and punctual payment of the principal of (and premium, if any, on) and any interest on all the Securities, according to their tenor,
and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed by the Company by supplemental indenture satisfactory to the Trustee, executed and delivered to the Trustee by such
corporation, and (2) the Company or such successor corporation, as the case may be, shall not, immediately after such merger or consolidation, or such sale or conveyance, be in default in the performance of any such covenant or condition. 

SECTION 11.02. Successor Corporation Substituted. 

In case of any such consolidation, merger, sale or conveyance and upon any such assumption by the successor corporation, such successor
corporation shall succeed to and be substituted for, and may exercise every right and power of, the Company, with the same effect as if it had been named herein as the party of the first part. Such successor corporation thereupon may cause to be
signed, and may issue either in its own name or in the name of the Company, any or all of the Securities issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such
successor corporation, instead of the Company, and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall make available for delivery any Securities which previously shall have
been signed and delivered by the officers of the Company to the Trustee for authentication, and any Securities which such successor corporation 

  
 41 

 
thereafter shall cause to be signed and delivered to the Trustee for that purpose. All of the Securities so issued shall in all respects have the same legal rank and benefit under this Indenture
as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Securities had been issued at the date of the execution thereof. 

In case of any such consolidation, merger, sale or conveyance such changes in phraseology and form (but not in substance) may be made in the
Securities thereafter to be issued as may be appropriate. 
 SECTION 11.03. Opinion of Counsel and Officers’ Certificate to be Given Trustee.

 The Trustee shall receive an Opinion of Counsel and Officers’ Certificate as conclusive evidence that any such consolidation,
merger, sale or conveyance, and any such assumption, complies with the provisions of this Article 11 and that all conditions precedent herein provided for relating to such transaction have been complied with.

ARTICLE 12 
 SATISFACTION
AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS 
 SECTION 12.01. Discharge of Indenture. 

If at any time 
 (a) the Company
shall have delivered to the Trustee for cancellation all Securities of any series theretofore authenticated and all coupons, if any, appertaining thereto (other than (i) coupons appertaining to Bearer Securities surrendered for exchange for
Registered Securities and maturing after such exchange, whose surrender is not required or has been waived as provided in Section 2.07, (ii) Securities and coupons that have been destroyed, lost or stolen and that have been replaced or
paid as provided in Section 2.09, (iii) coupons appertaining to Securities called for redemption and maturing after the relevant Redemption Date, whose surrender has been waived as provided in Section 3.03, and (iv) Securities and
coupons for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 4.03), or 

(b) all such Securities of such series and, in the case of (1)(i) or (1)(ii) above, any coupons appertaining thereto not theretofore
delivered to the Trustee for cancellation (i) shall have become due and payable, or (ii) are by their terms to become due and payable within one year, or (iii) are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption, and the Company in the case of (1)(i) or (1)(iii) above shall deposit or cause to be deposited with the Trustee as trust funds the entire amount (other than moneys repaid by
the Trustee or any paying agent to the Company in accordance with Section 12.04) sufficient to pay at maturity or upon redemption all Securities of such series and coupons not therefore delivered to the Trustee for cancellation, including
principal (and premium, if any) and any interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if in either case the Company shall also pay or cause to be paid all other sums payable hereunder by
the Company with respect to such series, then this Indenture shall cease to be of further effect with respect to the Securities of such series, and the Trustee, on demand of and at the cost and expense of the Company and subject to
Section 15.05, shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to the Securities of such series. The Company agrees to reimburse the Trustee for any costs or expenses thereafter
reasonably and properly incurred by the Trustee in connection with this Indenture or the Securities of such series. Notwithstanding the satisfaction and discharge of this Indenture with respect to the Securities of any series or of all series, the
obligations of the Company to the Trustee under Section 7.06 shall survive. 
 The Company will deliver to the Trustee an
Officers’ Certificate and an Opinion of Counsel which together shall state that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

  
 42 

 SECTION 12.02. Deposited Moneys to be Held in Trust by Trustee. 

Subject to the provisions of the last paragraph of Section 4.03, all moneys deposited with the Trustee pursuant to Section 12.01
shall be held in trust and applied by it to the payment, either directly or through any paying agent (including the Company acting as its own paying agent), to the persons entitled thereto, of all sums due and to become due thereon for principal and
interest (and premium, if any) for which payment of such money has been deposited with the Trustee. 
 SECTION 12.03. Paying Agent to Repay Moneys Held.

 In connection with the satisfaction and discharge of this Indenture with respect to Securities of any series and the payment of all
amounts due to the Trustee under Section 7.06, all moneys with respect to such Securities then held by any paying agent under the provisions of this Indenture shall, upon demand of the Company, be repaid to it or paid to the Trustee and
thereupon such paying agent shall be released from all further liability with respect to such moneys.
 SECTION 12.04. Return of Unclaimed Moneys.

 Any moneys deposited with or paid to the Trustee or any paying agent for the payment of the principal of (and premium, if any) or
interest on any Security and not applied but remaining unclaimed for two years after the date upon which such principal (and premium, if any, on) or interest shall have become due and payable, shall be repaid to the Company by the Trustee or such
paying agent on demand, and the holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for any payment which such holder may be entitled to collect and all liability of the Trustee or any paying agent
with respect to such moneys shall thereupon cease. 
 ARTICLE 13 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 

SECTION 13.01. Indenture and Securities Solely Corporate Obligations. 

No recourse under or upon any obligation, covenant or agreement contained in this Indenture, or in any Security or coupon, or because of any
indebtedness evidenced thereby, shall be had against any incorporator, or against any past, present or future stockholder, officer or director, as such, of the Company or of any successor corporation, either directly or through the Company or any
successor corporation, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance
of the Securities or coupons by the holders thereof and as part of the consideration for the issue of the Securities. 
 ARTICLE 14

 DEFEASANCE AND COVENANT DEFEASANCE 

SECTION 14.01. Applicability of Article. 

Unless, as specified pursuant to Section 2.03(b), provision is made that either or both of (a) defeasance of the Securities of a
series under Section 14.02 and (b) covenant defeasance of the Securities of a series under Section 14.03 shall not apply to the Securities of a series, then the provisions of such Section 14.02 and Section 14.03, together
with Section 14.04 and Section 14.05, shall be applicable to the Outstanding Securities of all series upon compliance with the conditions set forth below in this Article 14. 

SECTION 14.02. Defeasance and Discharge. 

Subject to Section 14.05, the Company may cause itself to be discharged from its obligations with respect to the Outstanding Securities of
any series on and after the date the conditions precedent set forth below are satisfied but subject to satisfaction of the conditions subsequent set forth below (hereinafter, “defeasance”). For this purpose,

  
 43 

 
such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities of such series and to have satisfied all its
other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall
survive until otherwise terminated or discharged hereunder: (a) the rights of holders of Outstanding Securities of such series to receive, solely from the trust fund described in Section 14.04 and as more fully set forth in such Section,
payments of the principal of and any premium and interest on such Securities when such payments are due, (b) the Company’s obligations with respect to such Securities under Section 2.07, Section 2.08, Section 2.09,
Section 4.02 and Section 4.03 and such obligations as shall be ancillary thereto, (c) the rights, powers, trusts, duties, immunities and other provisions in respect of the Trustee hereunder, and (D) this Article 14. Subject
to compliance with this Article 14, defeasance with respect to Securities of a series by the Company is permitted under this Section 14.02 notwithstanding the prior exercise of its rights under Section 14.03 with respect to the
Securities of such series. Following a defeasance, payment of the Securities of such series may not be accelerated because of an Event of Default.

SECTION 14.03. Covenant Defeasance. 
 The
Company may cause itself to be released from its obligations under any Sections applicable to Securities of a series that are determined pursuant to Section 2.03(b) to be subject to this provision with respect to the Outstanding
Securities of such series on and after the date the conditions precedent set forth below are satisfied but subject to satisfaction of the conditions subsequent set forth below (hereinafter, “covenant defeasance”). For this purpose,
such covenant defeasance means that, with respect to the Outstanding Securities of such series, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such Section, whether
directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such
Securities shall be unaffected thereby. 
 SECTION 14.04. Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions precedent or, as specifically noted below, subsequent to application of either Section 14.02 or
Section 14.03 to the Outstanding Securities of such series: 
 (a) The Company shall irrevocably have deposited or caused to be
deposited with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the holders of such Securities, (a) money in an amount, or
(b) U.S. Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or
(c) a combination thereof, sufficient, without reinvestment, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which
shall be applied by the Trustee to pay and discharge, (i) the principal of and any premium and interest on the Outstanding Securities of such series to maturity or redemption, as the case may be, and (ii) any mandatory sinking fund
payments or analogous payments applicable to the Outstanding Securities of such series on the due dates thereof. Before such a deposit the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date or
dates in accordance with Article 3 which shall be given effect in applying the foregoing. For this purpose, “U.S. Government Obligations” means securities that are (x) direct obligations of the United States
of America for the payment of which its full faith and credit is pledged or (y) obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank
(as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any such U.S. Government obligation or a specific payment of principal of or interest on any such U.S. Government Obligation held by such
custodian for the account of the holder of such depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount
received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal of or interest on the U.S. Government Obligation evidenced by such depository receipt; 

  
 44 

 (b) No Default, or event that after notice or lapse of time, or both, would become a Default
with respect to the Securities of such series, shall have happened and be continuing (a) on the date of such deposit or (b) insofar as Section 6.01(a) and Section 6.01(b) are concerned, at any time during the period
ending on the 123rd day after the date of such deposit or, if longer, ending on the day following the expiration of the longest preference period applicable to the Company in respect of such deposit (it being understood that the condition in
this clause (b) is a condition subsequent and shall not be deemed satisfied until the expiration of such period); 
 (c) Such
defeasance or covenant defeasance shall not (a) cause the Trustee for the Securities of such series to have a conflicting interest as defined in Section 7.08 or for purposes of the Trust Indenture Act with respect to any securities of the
Company or (b) result in the trust arising from such deposit to constitute, unless it is qualified as, a regulated investment company under the Investment Company Act of 1940, as amended;

(d) Such defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default under, this Indenture or any
other agreement or instrument to which the Company is a party or by which it is bound; 
 (e) Such defeasance or covenant defeasance shall
not cause any Securities of such series then listed on any registered national securities exchange under the Exchange Act to be delisted; 

(f) In the case of a defeasance under Section 14.02, the Company shall have delivered to the Trustee an Opinion of Counsel stating that
(x) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (y) since the date of this Indenture there has been a change in the applicable federal income tax law, in either case to the
effect that, and based thereon such opinion shall confirm that, the holders of the Outstanding Securities of such series will not recognize income, gain or loss for federal income tax purposes as a result of such defeasance and will be subject to
federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such defeasance had not occurred; 

(g) In the case of covenant defeasance under Section 14.03, the Company shall have delivered to the Trustee an Opinion of Counsel to the
effect that the holders of the Outstanding Securities of such series will not recognize income, gain or loss for federal income tax purposes as a result of such covenant defeasance and will be subject to federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such covenant defeasance had not occurred; 
 (h) Such defeasance or
covenant defeasance shall be effected in compliance with any additional terms, conditions or limitations which may be imposed on the Company in connection therewith pursuant to Section 2.03(b); and 

(i) The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions
precedent and subsequent provided for in this Indenture relating to either the defeasance under Section 14.02 or the covenant defeasance under Section 14.03, as the case may be, have been complied with. 

SECTION 14.05. Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous Provisions. 

All money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee pursuant to Section 14.04 in
respect of the Outstanding Securities of such series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any paying agent (but not
including the Company acting as its own paying agent) as the Trustee may determine, to the holders of such Securities of all sums due and to become due thereon in respect of principal and any premium and interest, but such money need not be
segregated from other funds except to the extent required by law. 

  
 45 

 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the money or U.S. Government Obligations deposited pursuant to Section 14.04 or the principal and interest received in respect thereof. 

Anything herein to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any
money or U.S. Government Obligations held by it as provided in Section 14.04 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are
in excess of the amount thereof which would then be required to be deposited to effect an equivalent defeasance or covenant defeasance, provided that the Trustee shall not be required to liquidate any U.S. Government Obligations in order to
comply with the provisions of this paragraph. 
 Anything herein to the contrary notwithstanding, if and to the extent the deposited money
or U.S. Government Obligations (or the proceeds thereof) either (i) cannot be applied by the Trustee in accordance with this Section because of a court order or by operation of Article 16 or (ii) are for any reason
insufficient in amount, then the Company’s obligations to pay principal of and any premium and interest on the Securities of such series shall be reinstated to the extent necessary to cover the deficiency on any due date for payment. In any
such case, the Company’s interest in the deposited money and U.S. Government Obligations (and proceeds thereof) shall be reinstated to the extent the Company’s payment obligations are reinstated. 

ARTICLE 15 

MISCELLANEOUS PROVISIONS 
 SECTION
15.01. Benefits of Indenture Restricted to Parties and Securityholders. 
 Nothing in this Indenture or in the Securities, expressed or
implied, shall give or be construed to give to any person, firm or corporation, other than the parties hereto and their successors and assigns and the holders of the Securities (and, with respect to the provisions of Article 16, the holders of
senior indebtedness), any legal or equitable right, remedy or claim under this Indenture or under any covenant or provision herein contained, all such covenants and provisions being for the sole benefit of the parties hereto and their successors and
assigns and the holders of the Securities (and, with respect to the provisions of Article 16, the holders of senior indebtedness). 
 SECTION 15.02.
Provisions Binding on Company’s Successors. 
 All the covenants, stipulations, promises and agreements in this Indenture contained
by or in behalf of the Company shall bind its successors and assigns, whether so expressed or not. 
 SECTION 15.03. Addresses for Notices, etc., to
Company and Trustee. 
 Any notice or demand which by any provisions of this Indenture is required or permitted to be given or served by
the Trustee or by the holders of Securities to or on the Company may be given or served by postage prepaid first class mail addressed (until another address is filed by the Company with the Trustee), as follows: Univest Financial Corporation 14
North Main Street, Souderton, Pennsylvania 18964, Attn: Chief Financial Officer. Any notice, direction, request or demand by any securityholder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if
given or made in writing at the principal corporate trust office of the Trustee as set forth in Section 4.02. All notices, approvals, consents, requests and any communications hereunder to Trustee must be in writing, provided that any
communication sent to Trustee hereunder must be in the form of a document that is signed manually or by way of a digital signature provided by a digital signature provider (as specified in writing to Trustee by the authorized representative), in
English. The Company agrees to assume all risks arising out of the use of using digital signatures and electronic methods to submit communications to Trustee, including without limitation the risk of Trustee acting on unauthorized instructions,
and the risk of interception and misuse by third parties. 

  
 46 

 SECTION 15.04. Notice to Holders of Securities; Waiver. 

Except as otherwise expressly provided herein, where this Indenture provides for notice of holders of Securities of any event, 

(a) such notice shall be sufficiently given to holders of Registered Securities if in writing and mailed, first-class postage prepaid, to each
holder of a Registered Security affected by such event, at the address of such holder as it appears in the Security Register, not earlier than the earliest date, and not later than the latest date, prescribed for the giving of such notice; and 

(b) such notice shall be sufficiently given to holders of Bearer Securities if published in an Authorized Newspaper in the Borough of
Manhattan, The City of New York and in such other city or cities as may be specified in such Securities on a Business Day at least twice, the first such publication to be not earlier than the earliest date, and not later than the latest date,
prescribed for the giving of such notice. 
 In case by reason of the suspension of regular mail service or by reason of any other cause it
shall be impracticable to give such notice to holders of Registered Securities by mail, then such notification as shall be made with the approval of the Trustee shall constitute sufficient notice to such holders for every purpose hereunder. In any
case where notice to holders of Registered Securities is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular holder of a Registered Security shall affect the sufficiency of such notice
with respect to other holders of Registered Securities or the sufficiency of any notice to holders of Bearer Securities given as provided herein.

In case by reason of the suspension of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause it
shall be impracticable to publish any notice to holders of Bearer Securities as provided above, then such notification as shall be given with the approval of the Trustee shall constitute sufficient notice to such holders for every purpose hereunder.
Neither the failure to give notice by publication to holders of Bearer Securities as provided above, nor any defect in any notice so published, shall affect the sufficiency of any notice to holders of Registered Securities given as provided herein.

 Where this Indenture provides for notice in any manner, such notice may be waived in writing by the person entitled to receive such
notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by holders of Securities shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any
action taken in reliance upon such waiver. 
 Any request, demand, authorization, direction, notice, consent or waiver required or permitted
under this Indenture shall be in the English language, except that any published notice may be in an official language of the country of publication. 

SECTION 15.05. Evidence of Compliance with Conditions Precedent. 

Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company
shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of
such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating
to such particular application or demand, no additional certificate or opinion need be furnished. 
 Each Officer’s Certificate and
Opinion of Counsel provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include (1) a statement that the person making such certificate or
opinion has read such covenant or condition; (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (3) a statement
that, in the opinion of such person, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (4) a statement as to
whether or not, in the opinion of such person, such condition or covenant has been complied with. 

  
 47 

 SECTION 15.06. Legal Holidays. 

In any case where the date of maturity of interest on or principal of the Securities or the date fixed for redemption of any Securities shall
be a Saturday or Sunday or a legal holiday in New York, New York or Philadelphia, Pennsylvania or in such other place or places as the Company may designate pursuant to Section 4.02, or a day on which banking institutions in New York, New York
or Philadelphia, Pennsylvania or in such other place or places are authorized by law or required by executive order to close, then payment of interest or principal (and premium, if any) need not be made on such date but may be made on the next
succeeding Business Day with the same force and effect as if made on the date of maturity or the date fixed for redemption, and no interest shall accrue for the period after such date. 

SECTION 15.07. Trust Indenture Act to Control. 

If and to the extent that any provision of this Indenture limits, qualifies or conflicts with another provision included in this Indenture
which is required to be included in this Indenture by any of Sections 310 to 317, inclusive, of the Trust Indenture Act, such required provision shall control.

SECTION 15.08. Execution in Counterparts. 

This Indenture may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together
constitute but one and the same instrument. Delivery of an executed signature page by facsimile or an email in PDF format shall have the same legal effect as the delivery of a signature page containing an original signature. 

SECTION 15.09. Governing Law. 
 This
Indenture and each Security shall be deemed to be a contract made under the laws of the State of New York, and for all purposes shall be governed by and construed in accordance with the laws of the State of New York. 

SECTION 15.10. Separability Clause. 
 In
case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

The Trustee, by its execution of this Indenture, hereby accepts the trusts in this Indenture declared and provided, upon the terms and
conditions hereinabove set forth. 
 SECTION 15.11. Force Majeure. 

In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder or under any
other documents relating to the Securities arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, pandemics, strikes, work stoppages, accidents, acts of war or terrorism, civil or military
disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which
are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 SECTION 15.12.
Consequential Damages. 
 Anything in this Indenture or the other documents relating to the Securities notwithstanding, in no event shall
the Trustee be liable for special, indirect, exemplary, incidental, punitive or consequential or other similar loss or damage of any kind whatsoever (including but not limited to loss of profit), even if the Trustee has been advised as to the
likelihood or possibility of such loss or damage and regardless of the form of action. 

  
 48 

 ARTICLE 16 

SUBORDINATION OF SECURITIES 
 SECTION
16.01. Securities Subordinate to Senior Indebtedness. 
 The payment by the Company of the principal of and any premium and interest on
any series of Securities issued hereunder shall be subordinated to the extent set forth in an indenture supplemental hereto relating to such Securities. 

IN WITNESS WHEREOF, UNIVEST FINANCIAL CORPORATION has caused this Indenture to be signed and acknowledged by its Chief Executive Officer or
its President or one of its Vice Presidents, and the same to be attested by its Secretary or an Assistant Secretary; and U.S. BANK NATIONAL ASSOCIATION has caused this Indenture to be signed and acknowledged by one of its Vice Presidents, and the
same to be attested by one of its Assistant Secretaries, all as of the day and year first above written.
  

							
		 		 	UNIVEST FINANCIAL CORPORATION
	ATTEST:	 		 		 	
		 		 	By:	 	 /s/ Brian J. Richardson

	 /s/ Megan D. Santana
	 		 		 	Name: Brian J. Richardson
		 		 		 	Title: CFO

  

							
		 		 	U.S. BANK NATIONAL ASSOCIATION,
		 		 	AS TRUSTEE
	ATTEST:	 		 		 	
		 		 	By:	 	 /s/ Gregory P. Guim

	 /s/ Ralph E. Jones
	 		 		 	Name: Gregory P. Guim
		 		 		 	Title: Vice President

  
 49 

 EXHIBIT A 

[FORMS OF CERTIFICATION] 

EXHIBIT A.1 
 [FORM OF
CERTIFICATE TO BE GIVEN BY 
 PERSON ENTITLED TO RECEIVE (1) BEARER SECURITY, 

SECURITY INITIALLY REPRESENTED BY A TEMPORARY GLOBAL 

SECURITY OR (3) INTEREST ON A TEMPORARY GLOBAL SECURITY] 

CERTIFICATE 
 [Insert
title or sufficient description of Securities] 
 This is to certify that the above-captioned Securities are being acquired by or on behalf
of, (or for offer to resell or for resale to), and if this certificate is being delivered in connection with a payment of interest, were beneficially owned by or on behalf of, (a) a person (other than a financial institution for purposes of
resale during the restricted period) who is not a United States person; or (b) a United States person (other than a financial institution for purposes of resale during the restricted period) who is (i) a foreign branch of a United States
financial institution or (ii) a United States person acquiring such Securities through the foreign branch of a United States financial institution and who for purposes of this certification holds such Securities through such financial
institution on the date hereof, and, in the case of either (i) or (ii), such United States financial institution has agreed, for the benefit of the Company, to comply with the requirements of Section 165(j)(3)(A), (b) or (c) of
the Internal Revenue Code of 1986, as from time to time amended, and the regulations thereunder; or (c) a financial institution for purposes of resale during the restricted period and such financial institution has not acquired such Securities
for purposes of resale directly or indirectly to a United States person or to a person within the United States or its possessions. If the undersigned is a clearing organization, the undersigned has obtained a similar certificate from its member
organizations on which this certificate is based; provided, however, that if the undersigned has actual knowledge that the information contained in such a certificate is false (and, absent documentary evidence that the beneficial owner
of such Security is not a United States person, it will be deemed to have actual knowledge that such certificate is false if it has a United States address for such beneficial owner, other than a financial institution described above), the
undersigned will not deliver a Security in temporary or definitive bearer form to the person who signed such certificate notwithstanding the delivery of such certificate to the undersigned. 

As used herein, “United States person” means a citizen or resident of the United States, a corporation, partnership or other entity
created or organized in or under the laws of the United States and an estate or trust the income of which is subject to United States federal income taxation regardless of its source, “United States” means the United States of America
(including the States and the District of Columbia), “possessions” of the United States include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and Northern Mariana Islands, “restricted period” means
the period described in Section 1.163-5(c)(2)(i)(D)(7) of the Treasury Regulations and “financial institution” means the persons described in
Section 1.165-12(c)(1)(v) of the Treasury Regulations. 
 We undertake to advise you by telex
if the above statement as to beneficial ownership is not correct on the date of delivery of the above-captioned Securities or on the interest payment date with respect to the above-captioned Securities, as the case may be, as to all of such
Securities. 
 We understand that this certificate may be required in connection with certain tax legislation in the United States. If
administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate or a copy thereof to any interested party in such
proceedings. 

  
 A-1 

 Dated:
                         , 20     

[To be dated on or after 

            , 20     (the 

date determined as provided in the 
 Indenture)] 

 

			
	[Name of Person Entitled to Receive Bearer Security or Interest]
	
	  

	(Authorized Signatory)
	Name:	 	
	Title:	 	  

  
 A-2 

 EXHIBIT A.2 

[FORM OF CERTIFICATE TO BE GIVEN BY 

EUROCLEAR AND CLEARSTREAM, LUXEMBOURG IN 

CONNECTION WITH THE EXCHANGE OF A PORTION 

OF A TEMPORARY GLOBAL SECURITY] CERTIFICATE 

[Insert title or sufficient description 

of Securities to be delivered] 

This is to certify that, based on certificates we have received from each of the persons appearing in our records as persons entitled to a
portion of                      principal amount of the above-captioned Securities (our “Qualified Account Holders”) substantially in the
form set out in Exhibit A.1 to the Indenture relating to the above-captioned Securities, such principal amount of Securities (a) is owned by a person (other than a financial institution for purposes of resale during the restricted period)
who is not a United States person; (b) is owned by a United States person (other than a financial institution for purposes of resale during the restricted period) who is (i) a foreign branch of a United States financial institution or
(ii) a United States person who acquired such Securities through the foreign branch of a United States financial institution and who for purposes of this certification holds such Securities through such financial institution on the date hereof
and, in either case, such United States financial institution has agreed, for the benefit of the Company, to comply with the requirements of Section 165(j)(3)(A), (b) or (c) of the Internal Revenue Code of 1986, as from time to time
amended, and the regulations thereunder; or (c) is owned by a financial institution for purposes of resale during the restricted period and such financial institution has certified that it has not acquired such Securities for purposes of resale
directly or indirectly to a United States person or to a person within the United States or its possessions. 
 To the extent that we have
knowledge that any of such certificates from a Qualified Account Holder is false and to the extent that we have not received with respect to any Securities such certificates from Qualified Account Holders, we are not submitting for exchange any
portion of the temporary global Security attributable thereto. 
 We further certify that as of the date hereof we have not received any
notification from any of our Qualified Account Holders to the effect that the statements made by such Qualified Account Holders with respect to any portion of the part submitted herewith for exchange are no longer true and cannot be relied upon as
of the date hereof. 
 As used herein, “United States person” means a citizen or resident of the United States, a corporation,
partnership or other entity created or organized in or under the laws of the United States and an estate or trust the income of which is subject to United States federal income taxation regardless of its source, “United States” means the
United States of America (including the States and the District of Columbia), “possessions” of the United States include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and Northern Mariana Islands,
“restricted period” means the period described in Section 1.163-5(c)(2)(i)(D)(7) of the Treasury Regulations and “financial institution” means the persons described in Section 1.165-12(c)(l)(v) of the Treasury Regulations. 
 We understand that this certificate is
required in connection with certain tax legislation in the United States. If administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce
this certificate or a copy thereof to any interested party in such proceedings. 
 Dated:
                         , 20     

[To be dated no earlier than the Exchange Date] 
  

			
	[Euroclear Bank]
	[Clearstream Banking, société anonyme]
		
	By:	 	  

  
 A-2-3 

 EXHIBIT A.3 

[FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR 

AND CLEARSTREAM, LUXEMBOURG TO OBTAIN INTEREST] 

CERTIFICATE 
 [Insert title
or sufficient description of Securities] 
 This is to certify that interest payable on the interest payment date[s] on [insert date(s)]
will be paid with respect to                      principal amount of the above-captioned Securities with respect to which we have received from the
persons appearing in our records as being entitled to interest payable on such date (our “Qualified Account Holders”) certificates substantially in the form set out in Exhibit A.1 to the Indenture relating to the above-captioned
Securities that such Securities (a) are owned by a person (other than a financial institution for purposes of resale during the restricted period) who is not a United States person; (b) are owned by a United States person (other than a
financial institution for purposes of resale during the restricted period) who is (i) a foreign branch of a United States financial institution or (ii) a United States person who acquired such Securities through the foreign branch of a
United States financial institution and who for purposes of this certification holds such Securities through such financial institution on the date hereof and, in either case, such United States financial institution has agreed, for the benefit of
the Company, to comply with the requirements of Section 165(j)(3)(A), (b) or (c) of the Internal Revenue Code of 1986, as from time to time amended, and the regulations thereunder; or (c) are owned by a financial institution for
purposes of resale during the restricted period and such financial institution has certified that it has not acquired such Securities for purposes of resale directly or indirectly to a United States person or to a person within the United States or
its possessions. 
 To the extent that we have knowledge that any of such certificates from a Qualified Account Holder is false and to the
extent that we have not received with respect to any Securities such certificates from Qualified Account Holders, we are not requesting that payment be made for interest with respect thereto. 

We further certify that as of the date hereof we have not received any notification from any of our Qualified Account Holders to the effect
that the statements made by such Qualified Account Holders with respect to any interest payment on any portion of the principal amount of the Securities referred to above are no longer true and cannot be relied upon as of the date hereof. 

We undertake that any interest received by us and not paid as provided above shall be returned to the Trustee for the above-captioned
Securities immediately prior to the expiration of two years after such interest payment date in order to be repaid by such Trustee to the above issuer at the end of two years after such interest payment date. 

As used herein, “United States person” means a citizen or resident of the United States, a corporation, partnership or other entity
created or organized in or under the laws of the United States and an estate or trust the income of which is subject to United States federal income taxation regardless of its source, “United States” means the United States of America
(including the States and the District of Columbia), “possessions” of the United States include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and Northern Mariana Islands, “restricted period” means
the period described in Section 1.163-5(c)(2)(i)(D)(7) of the Treasury Regulations and “financial institution” means the persons described in
Section 1.165-12(c)(l)(v) of the Treasury Regulations. 
 We understand that this certificate
is required in connection with certain tax legislation in the United States. If administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to
produce this certificate or a copy thereof to any interested party in such proceedings. 

  
 A-3-1 

 Dated:
                         , 20     

[To be dated on or after the most recent relevant 
 interest
payment date] 
  

			
	[Euroclear Bank]
	[Clearstream Banking, société anonyme]
		
	By:	 	  

  
 A-3-2

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