Document:

Form of Performance Share Award Ageement

 Exhibit 10.2 
 SAIC, INC. 
 2006 EQUITY INCENTIVE PLAN 

PERFORMANCE SHARE AWARD AGREEMENT 

 

BY ACCEPTING THE AWARD DESCRIBED IN THIS AGREEMENT, YOU VOLUNTARILY AGREE TO ALL OF THE TERMS AND CONDITIONS SET FORTH
IN THIS AGREEMENT, THE AWARD LETTER AND IN THE PLAN. 

 This Performance Share Award Agreement (this “Agreement”),
effective as of the Grant Date (as defined below), is between SAIC, Inc., a Delaware corporation (the “Company”), and Recipient (as defined below). 
 This Agreement sets forth the terms and conditions applicable to the award granted to Recipient pursuant to the Award Letter (as defined below) representing a right to receive a number of shares of the
Company’s Common Stock (the “Shares”) based on the extent, if any, to which the applicable Performance Goals (as defined below) have been achieved for the Performance Period (as defined below) (the “Performance Share
Award”). 
 1. DEFINITIONS. The following terms shall have the meanings as defined below. Capitalized terms used herein and not
defined shall have the meanings attributed to them in the Company’s 2006 Equity Incentive Plan (as may be amended from time to time, the “Plan”). 
 “Award Letter” means the award notice delivered to Recipient concurrently with this Agreement and which is hereby made a part hereof and incorporated by reference into this Agreement.

 “Determination Date” means the date on which the Committee makes a final determination of whether and to
what extent the Performance Goals set forth in the Award Letter have been achieved for the Performance Period, as described in Section 3 hereof. 
 “Executive Officer” means an officer of the Company designated as such for purposes of Section 16 of the Securities Exchange Act of 1934, as amended. 

“Grant Date” means the effective date of the grant of the Performance Share Award as set forth in the Award Letter.

 “Ineligible Position” means a position of employment with the Company or an Affiliate that is not eligible
to receive Performance Share Awards as determined by the Committee. 
  

					
	March 2011	 		 	

 “Performance Goals” means the goals set forth in the Award Letter as
established by the Committee to determine whether, and to what extent, the Performance Share Award shall be earned and therefore Shares shall be issued to Recipient after the Determination Date pursuant to this Agreement. 

“Performance Period” means the period of three fiscal years from fiscal year 20     through
fiscal year 20    , inclusive, based on the Company’s audited annual financial statements. 

“Permanent Disability” means the status of disability determined conclusively by the Committee based upon certification
of disability by the Social Security Administration or upon such other proof as the Committee may require, effective upon receipt of such certification or other proof by the Committee. 

“Recipient” means the person granted a Performance Share Award as named in the Award Letter who is affiliated with the
Company or an Affiliate as an employee. 
 “Section 409A” means Section 409A of the Code together with the
regulations promulgated thereunder. 
 “Target Shares” means the target number of Shares as set forth in the
Award Letter. 
 “Special Retirement” means: (i) retirement by the Recipient after
reaching age 59 1/2 with at least ten
(10) years of service with the Company or an Affiliate; (ii) retirement by the Recipient after reaching age 59 1/2 and Recipient’s age plus years of service with the Company or an Affiliate equals at least 70; or (iii) if the Recipient is an Executive Officer at the time of
retirement, retirement after reaching age 65 by the Recipient, regardless of years of service with the Company. For Special Retirement purposes, years of service shall mean the period of service determined conclusively by the Committee.

 2. PERFORMANCE SHARE AWARD SUBJECT TO TERMINATION. Except in the event of death, Permanent Disability or Special
Retirement as set forth below, the Performance Share Award shall be terminated automatically without compensation and no Shares shall be issued to Recipient pursuant to this Agreement if, prior to the end of the Performance Period, Recipient’s
employment with the Company or any Affiliate terminates, or if Recipient is an employee of an Affiliate and such entity ceases to be an Affiliate, whether by Committee action or otherwise, on the date such entity ceases to be an Affiliate.

 3. PERFORMANCE REQUIREMENTS. 
  

	 	a)	 Performance Goals. Following the end of the Performance Period, the Committee shall determine whether and the extent to which each of the
Performance Goals have been achieved for the Performance Period and 

  

					
	March 2011	 	2	 	

	 	 
shall determine the number of Shares, if any, issuable to Recipient with respect to the level of achievement of each individual Performance Goal; provided that with respect to any
Performance Share Award to a “covered employee” within the meaning of Section 162(m) of the Code, the Committee shall have certified the achievement of the Performance Goals. The aggregate number of Shares potentially issuable to
Recipient with respect to all Performance Goals shall be between 0% and 150% (rounded down to the nearest whole Share) of the number of Target Shares. The Committee’s determinations with respect to the achievement of Performance Goals shall be
based on the Company’s financial results reported in its annual report on Form 10-K as filed with the SEC, subject to any adjustments made by the Committee in accordance with Section 3 (c) below. 

 

	 	b)	Committee Discretion to Reduce Performance Share Award. Notwithstanding satisfaction, achievement or completion of the Performance Goals set forth in the Award
Letter (or any adjustments thereto as provided below), the number of Shares issuable hereunder may be reduced by the Committee on the basis of such further considerations as the Committee in its sole discretion shall determine.

  

	 	c)	Adjustment of Performance Goals. To the extent it is intended that this Performance Share Award comply with the performance-based exception to
Section 162(m) of the Code, the Committee shall make no adjustment to the Performance Goals set forth in the Award Letter with respect to a “covered employee” within the meaning of Section 162(m) of the Code, including the
performance targets or the method of calculating the actual performance achieved relative to the Performance Goals, except to exclude the impact of (i) changes in accounting standards or adoption of any new accounting standards in accordance
with generally accepted accounting principles in the United States, (ii) changes in federal statutory corporate tax rates, and (iii) extraordinary or unusual gains or losses, events or circumstances over which the Company has no or limited
control, including the occurrence of any disaster, act of God or any other force majeure event. 

  

	 	d)	Section 162(m). To the extent the Committee has determined that this Performance Share Award is intended to comply with the performance-based exception to
Section 162(m) of the Code and the Recipient is a “covered employee” within the meaning of Section 162(m) of the Code, all actions taken hereunder (including without limitation any adjustments of Performance Goals or
determination of whether a Fundamental Transaction or Change in Control has occurred) shall be made in a manner which would comply with Section 162(m) of the Code. 

  

					
	March 2011	 	3	 	

 4. ISSUANCE OF SHARES. Shares shall be issued, if and to the extent earned based
on the achievement of the Performance Goals as determined by the Committee, promptly following the Determination Date; provided that it is intended that to the extent possible, the issuance of the Shares shall be exempt from Section 409A
pursuant to the short-term deferral exception thereunder, and the Determination Date (and issuance of Shares hereunder) shall be within 2 and  1/2 months following the end of the Performance Period. As a condition to such issuance, Recipient must have satisfied his or her tax withholding obligations as
specified in this Agreement and must have completed, signed and returned any documents and taken any additional action that the Company deems appropriate to enable it to accomplish the delivery of the Shares. In no event will the Company be
obligated to issue a fractional share. Notwithstanding the foregoing, (i) the Company shall not be obligated to deliver any Shares during any period when the Company determines that the issuance or the delivery of Shares hereunder would violate
any federal, state or other applicable laws and/or may issue Shares subject to any restrictive legends that, as determined by the Company, is necessary to comply with securities or other regulatory requirements, and (ii) the date on which
Shares are issued may include a delay (but not later than the next December 31st after the end of the Performance Period) in order to provide the Company such time as it determines appropriate to address tax withholding and other administrative matters. If eligible, Recipient shall
be given the opportunity to elect to defer receipt of the Shares. Such deferral election shall be in accordance with the terms of the applicable non-qualified deferral plan of the Company or an Affiliate and the requirements of Section 409A and
subject to such additional terms and conditions as are set by the Committee. 
 5. PARTIAL PAYMENT ON CERTAIN EVENTS. 

 

	 	a)	Disability, Special Retirement or Transfer to an Ineligible Position. 

 

	 	(i)	If Recipient ceases to be employed by the Company or an Affiliate as a result of Recipient’s Permanent Disability or Special Retirement and is not in an Ineligible
Position at the time of such event, Recipient shall remain eligible to receive, promptly after the Determination Date, a prorated portion of the Shares that would otherwise be issuable to Recipient under the Performance Share Award in the absence of
such employment termination based on the actual achievement of the Performance Goals over the Performance Period; provided that such prorated amount shall be based on the ratio of (x) the number of days elapsed from the beginning of the
Performance Period to the employment termination date over (y) the number of days in the entire scheduled Performance Period (and not reflecting any shortening of the Performance Period as a result of a Fundamental Transaction as described
below). 

  

	 	(ii)	 If Recipient is transferred to an Ineligible Position and either (i) remains employed by the Company or an Affiliate through the end of the
Performance Period or, if applicable, through the time of 

  

					
	March 2011	 	4	 	

	 	 
consummation of a Fundamental Transaction as set forth in Section 5(c) below, or (ii) ceases to be employed by the Company or an Affiliate at any time prior to the end of the
Performance Period as a result of Recipient’s Permanent Disability or Special Retirement, Recipient shall remain eligible to receive, promptly after the Determination Date, a prorated portion of the Shares that would otherwise be issuable to
Recipient under the Performance Share Award in the absence of such transfer to an Ineligible Position based on the actual achievement of the Performance Goals over the Performance Period; provided that such prorated amount shall be based on
the ratio of (x) the number of days elapsed from the beginning of the Performance Period to the date of transfer to an Ineligible Position over (y) the number of days in the entire scheduled Performance Period (and not reflecting any
shortening of the Performance Period as a result of a Fundamental Transaction as described below). 

  

	 	(iii)	Notwithstanding the foregoing, Recipient shall not be entitled to any Shares under the Performance Share Award if Recipient: (i) fails to execute and deliver a
general release of claims if requested by, and in a form satisfactory to, the Company or an Affiliate, (ii) violates the terms of his or her inventions, copyright and confidentiality agreement with the Company or an Affiliate, or
(iii) breaches his or her other contractual or legal obligations to the Company or an Affiliate, including the non-solicitation obligations set forth in Section 13 of this Agreement. 

 

	 	b)	Death. If Recipient’s employment with the Company and its Affiliates terminates due to the death of Recipient, then Recipient’s estate shall receive,
promptly after the date of death, a prorated portion of the Shares that Recipient would have been issued pursuant to the Performance Share Award based on the formula set forth in subsection (c) below as if a Fundamental Transaction had occurred
on such date of death. 

  

	 	c)	Change in Control of Company. If a Fundamental Transaction or Change in Control (as defined in the Plan) occurs prior to the end of the Performance Period while
Recipient is employed by the Company or an Affiliate or remains entitled to receive Shares pursuant to Section 5(a) above, the Performance Period shall be terminated and Recipient shall be entitled to receive, immediately prior to the
consummation of such Fundamental Transaction or Change in Control, the following number of Shares (the “CIC Earned Shares”): 

  

	 	(i)	If the Fundamental Transaction or Change in Control occurs on or prior to 50% of the Performance Period elapsing, a prorated number of the Target Shares, based on the
portion of the Performance Period that has elapsed. 

  

					
	March 2011	 	5	 	

	 	(ii)	If the Fundamental Transaction or Change in Control occurs following at least 50% of the Performance Period elapsing, a number of Shares based on the achievement of the
Performance Goals at the time of consummation of the Fundamental Transaction or Change in Control as determined by the Committee and prorated to reflect the portion of the Performance Period that has elapsed through the date of consummation of the
Fundamental Transaction or Change in Control (or, if Recipient earlier transfers to an Ineligible Position, through the date of such transfer). For purposes of determining the achievement of the Performance Goals, the Committee shall use the
Company’s financial results reported in its most recent quarterly report on Form 10-Q or annual report on Form 10-K as filed with the SEC prior to consummation the Fundamental Transaction or Change in Control. 

Notwithstanding the foregoing, if the Company determines that this Performance Share Award is “deferred compensation” for
purposes of Section 409A and is not eligible for any exemption from or exception to Section 409A, and that the Fundamental Transaction or Change in Control is not also a “change in ownership”, “change in effective
control” or a “change in the ownership of a substantial portion of the assets” of the Company under Section 409A, then the CIC Earned Shares (or a comparable amount of cash or acquiring company stock, depending on the
consideration received by Company stockholders on such Fundamental Transaction or Change in Control) shall only be issued to Recipient on the date such Shares would have been issued pursuant to Section 4 if a Fundamental Transaction or Change
in Control had not occurred). 
 6. TAX WITHHOLDING. If the Company or an Affiliate is required to withhold any federal, state, local or
other taxes upon the issuance of Shares or otherwise under this Agreement, the Company shall withhold a sufficient number of Shares to meet the withholding obligation based on the minimum rates required by law; provided, however, that the Company
may, in its sole discretion, sell a sufficient number of Shares on behalf of Recipient to satisfy such obligations, accept payment to satisfy such obligations in the form of cash or delivery to the Company of Shares already owned by Recipient, or
any combination of the foregoing. 
 7. RIGHTS, RESTRICTIONS AND LIMITATIONS. Any Shares issued to Recipient pursuant to this Agreement
are subject to the rights, restrictions and limitations set forth in the Company’s Restated Certificate of Incorporation. Recipient shall not have the rights of a stockholder until Shares, if any, are issued following the Determination Date.
The Performance Share Award and rights under this Agreement may be not transferred by Recipient. 
 8. RESTRICTIONS UNDER SECURITIES LAW.
The Performance Share Award and Shares potentially issuable pursuant this Agreement are subject to any restrictions which may be imposed under applicable state and federal securities laws and are subject to obtaining all necessary consents which may
be required by, or any 

  

					
	March 2011	 	6	 	

 
condition which may be imposed in accordance with, applicable state and federal securities laws or regulations. 
 9. EMPLOYMENT AT WILL. 
  

	 	a)	Recipient’s employment or affiliation with the Company or an Affiliate is not for any specified term and may be terminated by Recipient or by the Company or an
Affiliate at any time, for any reason, with or without cause and with or without notice. Nothing in this Agreement, the Plan or any covenant of good faith and fair dealing that may be found implicit in this Agreement or the Plan shall:
(i) confer upon Recipient any right to continue in the employ of, or affiliation with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or an Affiliate regarding the fact or nature of future positions,
future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Agreement or the Plan unless such right or benefit has specifically accrued under the terms
of this Agreement or Plan; or (iv) deprive the Company of the right to terminate Recipient at will and without regard to any future vesting opportunity that Recipient may have. 

 

	 	b)	Recipient acknowledges and agrees that the right to receive Shares pursuant to this Agreement is earned, among other requirements, only by continuing as an employee at
the will of the Company (not through the act of being hired, being granted the Performance Share Award or any other award or benefit) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its
businesses or Affiliates at any time or from time to time, as it deems appropriate (a “reorganization”). Recipient acknowledges and agrees that such a reorganization could result in the termination of Recipient’s relationship as an
employee to the Company or an Affiliate, or the termination of Affiliate status of Recipient’s employer and the loss of benefits available to Recipient under this Agreement, including but not limited to, the termination of the right to receive
Shares under this Agreement. Recipient further acknowledges that if the Performance Goals are not met, it is possible that no Shares will be issued hereunder. 

 10. INCORPORATION OF PLAN. The Performance Share Award is granted pursuant to the Plan, all the terms and conditions of which are hereby made a part hereof and are incorporated herein by reference.
In the event of any inconsistency between the terms and conditions contained herein and those set forth in the Plan, the terms and conditions of the Plan shall prevail. 
 11. RECOUPMENT OF AWARDS. The Human Resources and Compensation Committee of the Company’s Board of Directors adopted a recoupment policy on June 18, 2009 (the “Policy”), that
may require members of senior management to return 

  

					
	March 2011	 	7	 	

 
incentive compensation if there is a material restatement of the financial results upon which the compensation was originally based. The Policy also provides for recovery of incentive
compensation from any employee involved in fraud or intentional misconduct, whether or not it results in a restatement of the Company’s financial results. Recipient acknowledges and agrees that the Policy applies to the Performance Share Award
and that any payments or issuances of Shares are subject to recoupment pursuant to the Policy. This Agreement shall be deemed to include the restrictions imposed by the Policy. 
 12. COPIES OF PLAN AND OTHER MATERIALS. Recipient acknowledges that Recipient has received copies of the Plan and the Plan prospectus from the Company and agrees to receive stockholder information,
including copies of any annual report, proxy statement and periodic report, electronically from the Company. Recipient acknowledges that copies of the Plan, Plan prospectus, Plan information and stockholder information are also available upon
written or telephonic request to the Company. Recipient acknowledges that a copy of the Policy referenced in Section 11 is available on ISSAIC, the Company’s intranet, and is also available upon written or telephonic request to the
Company. 
 13. NON-SOLICITATION. 
  

	 	a)	Solicitation of Employees. Recipient agrees that, both while employed by the Company or an Affiliate and for one year afterward, Recipient will not solicit or
attempt to solicit any employee of the Company or an Affiliate to leave his or her employment or to violate the terms of any agreement or understanding that employee may have with the Company or an Affiliate. The foregoing obligations apply to both
the Recipient’s direct and indirect actions, and apply to actions intended to benefit Recipient or any other person, business or entity. 

  

	 	b)	Solicitation of Customers. Recipient agrees that, for one year after termination of employment with the Company or an Affiliate, Recipient will not participate
in any solicitation of any customer or prospective customer of the Company or an Affiliate concerning any business that: 

  

	 	(i)	involves the same programs or projects for that customer in which Recipient was personally and substantially involved during the 12 months prior to termination of
employment; or 

  

	 	(ii)	has been, at any time during the 12 months prior to termination of employment, the subject of any bid, offer or proposal activity by the Company or an Affiliate in
respect of that customer or prospective customer, or any negotiations or discussions about the possible performance of services by the Company or an Affiliate to that customer or potential customer, in which Recipient was personally and
substantially involved. 

  

					
	March 2011	 	8	 	

 In the case of a governmental, regulatory or administrative agency, commission, department
or other governmental authority, the customer or prospective customer will be determined by reference to the specific program offices or activities for which the Company or an Affiliate provides (or may reasonably provide) goods or services.

  

	 	c)	Remedies. Recipient acknowledges and agrees that a breach of any of the promises or agreements contained in this Section 13 will result in immediate,
irreparable and continuing damage to the Company for which there is no adequate remedy at law, and the Company or an Affiliate will be entitled to injunctive relief, a decree for specific performance, and other relief as may be proper, including
money damages. 

 14. MISCELLANEOUS. This Agreement which includes the Award Letter contains the entire agreement of the
parties with respect to its subject matter, provided, however, that if Recipient and the Company are parties to an existing written agreement addressing the subject matter of Section 13, such agreement shall control with respect to such subject
matter until the termination thereof, at which time Section 13 shall control. This Agreement shall be binding upon and shall inure to the benefit of the respective parties, the successors and assigns of the Company, and the heirs, legatees and
personal representatives of Recipient. The parties hereby agree that should any portion of this Agreement be judicially held to be invalid, unenforceable, or void, such portion shall be construed by limiting and reducing it, so as to be enforceable
to the maximum extent compatible with the applicable law as is then in effect. 
 15. GOVERNING LAW. This Agreement shall be governed by,
construed and enforced in accordance with the laws of the State of Delaware without reference to such state’s principles of conflict of laws. 
 16. ACKNOWLEDGMENT. Recipient acknowledges that the Performance Share Award constitutes full and adequate consideration for Recipient’s obligations under this Agreement, the acceptance of the
Performance Share Award constitutes an unequivocal acceptance of this Agreement and any attempted modification or deletion will have no force or effect on the Company’s right to enforce the terms and conditions stated herein. 

By accepting the Performance Share Award, you agree to all of the terms and conditions set forth herein and in the Plan.

  

					
	March 2011	 	9Form of Supplemental Indenture

 Exhibit 4.4 
 ALLY FINANCIAL INC., 
 as Issuer 

and 
 THE BANK OF
NEW YORK MELLON, 
 as Trustee 
 First Supplemental Indenture 
 Dated as of June [    ],
2011 
 Supplement to the Amended and Restated Indenture of Ally Financial Inc. 

dated as of March 1, 2011 

 TABLE OF CONTENTS 

 
  

 

							
	 	 	 	  	PAGE	 
	
	ARTICLE 1	  
	DEFINITIONS	  
			
	 Section 1.01.
	 	 Definition of Terms
	  	 	1	  
	
	ARTICLE 2	  
	GENERAL TERMS AND CONDITIONS OF THE
NOTES	  
			
	 Section 2.01.
	 	 Designation, Principal Amount and Original Issuance
	  	 	5	  
	 Section 2.02.
	 	 Form, Payment and Appointment
	  	 	5	  
	 Section 2.03.
	 	 Installment Payments
	  	 	6	  
	
	ARTICLE 3	  
	REDEMPTION	  
			
	 Section 3.01.
	 	 Redemption
	  	 	8	  
	
	ARTICLE 4	  
	REPURCHASE OF NOTES AT THE OPTION OF
THE HOLDER	  
			
	 Section 4.01.
	 	 Offer to Repurchase
	  	 	8	  
	 Section 4.02.
	 	 Conditions to Exercise
	  	 	8	  
	 Section 4.03.
	 	 Procedures for Exercise
	  	 	8	  
	 Section 4.04.
	 	 Withdrawal of Repurchase Notice
	  	 	9	  
	 Section 4.05.
	 	 Defeasance
	  	 	10	  
	 Section 4.06.
	 	 No Sinking Fund
	  	 	10	  
	
	ARTICLE 5	  
	FORM OF NOTE	  
			
	 Section 5.01.
	 	 Form of Note
	  	 	10	  
	
	ARTICLE 6	  
	DEFAULTS	  
			
	 Section 6.01.
	 	 Events of Default
	  	 	10	  
	 Section 6.02.
	 	 Defaults
	  	 	11	  
	
	ARTICLE 7	  
	TAX TREATMENT	  

  
 1 

							
	 Section 7.01.
	 	 Tax Treatment
	  	 	11	  
	
	ARTICLE 8	  
	SUBORDINATION	  
			
	 Section 8.01.
	 	 Subordination
	  	 	11	  
	
	ARTICLE 9	  
	CHANGES TO REFLECT ABSENCE OF GMAC TRUST	  
			
	 Section 9.01.
	 	 General
	  	 	12	  
	 Section 9.02.
	 	 Specific Changes
	  	 	12	  
	
	ARTICLE 10	  
	MISCELLANEOUS	  
			
	 Section 10.01.
	 	 Ratification of Indenture
	  	 	13	  
	 Section 10.02.
	 	 Trustee Not Responsible for Recitals
	  	 	13	  
	 Section 10.03.
	 	 New York Law to Govern
	  	 	13	  
	 Section 10.04.
	 	 Separability
	  	 	13	  
	 Section 10.05.
	 	 Counterparts
	  	 	13	  
	 Section 10.06.
	 	 Modifications
	  	 	13	  
	
	EXHIBIT	  
		
	 Exhibit A — Form of Note
	  	 	A-1	  

  
 2 

 FIRST SUPPLEMENTAL INDENTURE, dated as of June [    ], 2011 (this
“First Supplemental Indenture”), between ALLY FINANCIAL INC., a Delaware corporation (the “Company”), and THE BANK OF NEW YORK MELLON, a New York banking corporation, not in its individual capacity but solely as
trustee (the “Trustee”) under the Amended and Restated Indenture, dated as of March 1, 2011 (the “Base Indenture,” and, together with this First Supplemental Indenture, the “Indenture”), which
Base Indenture amended and restated in its entirety the indenture between the parties hereto dated as of December 30, 2009. 

RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and delivery of the Base Indenture, to provide for the issuance from time to time of its unsecured junior subordinated debentures, notes or other evidences of
indebtedness (the “Securities”), to be issued in one or more series as provided in the Base Indenture. 

Pursuant to the terms of the Base Indenture, the Company desires to provide for the establishment of a new series of its Securities to be
known as its [    .    ]% Junior Subordinated Amortizing Notes due [            ], 2014, the form of such Securities and the
terms, provisions and conditions thereof to be set forth as provided in this First Supplemental Indenture. 
 The Company has
requested that the Trustee execute and deliver this First Supplemental Indenture and all requirements necessary to make this First Supplemental Indenture a valid, binding and enforceable instrument in accordance with its terms, and to make such
Securities, when executed, authenticated and delivered by the Company, the valid, binding and enforceable obligations of the Company, have been done and performed, and the execution and delivery of this First Supplemental Indenture has been duly
authorized in all respects. 
 NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of such Securities by the Holders thereof, it is mutually covenanted and
agreed, for the equal and proportionate benefit of all Holders of such Securities, as follows: 
 ARTICLE 1 

DEFINITIONS 
 Section 1.01. Definition of Terms. For all purposes of this First Supplemental Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

(a) a term defined in the Base Indenture has the same meaning when used in this First Supplemental Indenture; 

  
 1 

 (b) a term defined anywhere in this First Supplemental Indenture has the same meaning
throughout; 
 (c) the definition of any term in this First Supplemental Indenture that is also defined in the Base Indenture
shall for purposes of this First Supplemental Indenture supersede the definition of such term in the Base Indenture; 
 (d) the
definition of a term in this First Supplemental Indenture is not intended to have any effect on the meaning or definition of an identical term that is defined in the Base Indenture insofar as the use or effect of such term in the Base Indenture, as
previously defined, is concerned; 
 (e) the terms defined in this Article have the meanings assigned to them in this Article
and include the plural as well as the singular; 
 (f) all other terms used herein that are defined in the Trust Indenture Act,
either directly or by reference therein, have the meanings assigned to them therein; 
 (g) all accounting terms not otherwise
defined herein have the meanings assigned to them in accordance with generally accepted accounting principles, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to
any computation required or permitted hereunder shall mean such accounting principles as are generally accepted at the date of such computation; and 
 (h) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this First Supplemental Indenture as a whole and not to any particular Article,
Section or subdivision. 
 “Base Indenture” shall have the meaning set forth in the first paragraph of this
First Supplemental Indenture. 
 “close of business” means 5:00 p.m. (New York City time). 

“Company” shall have the meaning set forth in the first paragraph of this First Supplemental Indenture. 

“Default” shall have the meaning set forth in Section 6.02. 

“DTC” means The Depository Trust Company. 
 “Early Mandatory Settlement Date” shall have the meaning set forth in the Purchase Contract Agreement. 
 “Early Mandatory Settlement Notice” shall have the meaning set forth in the Purchase Contract Agreement. 

  
 2 

 “Early Mandatory Settlement Rate” shall have the meaning set forth in the
Purchase Contract Agreement. 
 “Early Mandatory Settlement Right” shall have the meaning set forth in the
Purchase Contract Agreement. 
 “Early Settlement” shall have the meaning set forth in the Purchase Contract
Agreement. 
 “Early Settlement Rate” shall have the meaning set forth in the Purchase Contract Agreement.

 “Extension Period” shall have the meaning set forth in Section 2.03(c)(i). 

“Federal Reserve” means either or both of the Board of Governors of the Federal Reserve System and the Federal Reserve
Bank of New York, or its successor or the Company’s primary federal banking regulator. 
 “First Supplemental
Indenture” shall have the meaning set forth in the first paragraph hereof. 
 “Fundamental Change”
shall have the meaning set forth in the Purchase Contract Agreement. 
 “Global Note” shall have the meaning
set forth in Section 2.02. 
 “Holder” means a holder of Notes, unless otherwise indicated. 

“Indenture” shall have the meaning set forth in the first paragraph of this First Supplemental Indenture. 

“Installment Payment Date” means [            ],
[            ], [            ] and
[            ] of each year, commencing on [            ], 2011. 

“Installment Payment Period” means (i) in the case of the first Installment Payment Date, the period from, and
including, the Issue Date to, but excluding, such Installment Payment Date and (ii) in the case of any other Installment Payment Date, the period from, and including, the immediately preceding Installment Payment Date to, but excluding, such
other Installment Payment Date. 
 “Issue Date” means June [    ], 2011. 

“Note” and “Notes” shall have the respective meanings set forth in Section 2.01. 

“Paying Agent” shall initially mean the Trustee. 

  
 3 

 “Physical Notes” means permanent certificated Notes in registered form
issued in denominations of one Note and integral multiples in excess thereof. 
 “Purchase Contract Agreement”
means the Purchase Contract Agreement, dated as of June [    ], 2011, among the Company, The Bank of New York Mellon, as purchase contract agent, and The Bank of New York Mellon, as Trustee under the Indenture. 

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

“Registrar” shall initially mean the Trustee. 
 “Regular Record Date” shall mean the Business Day immediately preceding the related Installment Payment Date or, if the Notes do not remain in book-entry only form, a date selected by the
Company, which shall be more than 14 days but less than 60 days prior to the relevant Installment Payment Date. 

“Repurchase Date” shall be a date specified by the Company in the Early Mandatory Settlement Notice, which shall be at
least 20 but not more than 45 Business Days following the date of the Early Mandatory Settlement Notice (and which may or may not fall on the Early Mandatory Settlement Date). 
 “Repurchase Notice” shall mean a notice in the form entitled “Form of Repurchase Notice” attached as Attachment 1 to the Form of Note attached hereto. 

“Repurchase Right” shall have the meaning set forth in Section 4.01. 

“Repurchase Price” per Note to be repurchased shall be equal to the principal amount of such Note as of the Repurchase
Date, plus (i) accrued and unpaid interest on such principal amount from, and including, the immediately preceding Installment Payment Date to, but not including, the Repurchase Date, calculated at a rate of
[  .    ]% per annum and (ii) if at the time the Company extends the Repurchase Right to Holders there is an Extension Period in effect, the aggregate amount of deferred installment payments and
interest thereon, determined as set forth in Section 2.03(c)(ii). However, if the Notes are in certificated form and the Repurchase Date falls after a Regular Record Date and on or prior to the immediately succeeding Installment Payment Date,
the installment payment payable on such Installment Payment Date shall be paid on such Installment Payment Date to the Holder as of the close of business on such Regular Record Date and shall not be included in the Repurchase Price per Note.

 “Securities” shall have the meaning set forth in the first recital of this First Supplemental Indenture.

 “Separate Note” shall have the meaning set forth in the Purchase Contract Agreement. 

  
 4 

 “Trustee” shall have the meaning set forth in the first paragraph of this
First Supplemental Indenture. 
 [“Underwriters” shall have the meaning set forth in the
Purchase Contract Agreement.]1 

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

ARTICLE 2 

GENERAL TERMS AND CONDITIONS OF THE
NOTES 
 Section 2.01. Designation, Principal Amount and Original Issuance. There
is hereby authorized a series of Securities designated as the [    .    ]% Junior Subordinated Amortizing Notes due
[            ], 2014 (each note of such series having an initial principal amount of
$[    .        ], a “Note” and, collectively, the “Notes”), limited in aggregate initial principal amount to
$[            ] [(or $[            ] aggregate initial principal amount if the Underwriters exercise their
over-allotment option in full)]2, except for Notes
authenticated, executed and delivered upon registration of transfer of, in exchange for, or in lieu of, other Notes pursuant to Sections 3.04, 3.05, 3.06, 3.12(c) or 9.06 of the Base Indenture or Section 4.03(c) of this First Supplemental
Indenture. The Notes, upon execution of this First Supplemental Indenture, shall be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon execute and deliver said Notes in accordance with
Section 3.03 of the Base Indenture. 
 Section 2.02. Form, Payment and Appointment. The Notes will be Global
Securities and will initially be issued in fully registered, permanent global form without coupons (a “Global Note”), and the Depositary shall be DTC or such other depositary as any officer of the Company may from time to time
designate. Unless and until such Global Note is exchanged for Physical Notes, Global Notes may be transferred, in whole or in part, only to the Depositary or a nominee of the Depositary, or to a successor Depositary selected or approved by the
Company or to a nominee of such successor Depositary. 
 Installments on Physical Notes will be payable, the transfer of
Physical Notes will be registrable and Physical Notes will be exchangeable for Physical Notes of a like aggregate principal amount bearing identical terms and provisions at the office or agency of the Company maintained for such purpose in the
Borough of Manhattan, The City of New York, which shall initially be the Corporate Trust Office of the Trustee. 
  

 

	1 	 To be deleted if over-allotment option is exercised in full before initial closing will be settled on closing date for initial issuance.

	2 	 To be deleted if over-allotment option is exercised in full before initial closing will be settled on closing date for initial issuance.

  
 5 

 The Registrar and Paying Agent for the Notes shall initially be the Trustee. 

The Notes shall be issuable in denominations of one Note and integral multiples in excess thereof. 

Section 2.03. Installment Payments  
 (a) Installment Payment Dates. On each Installment Payment Date, the Company shall pay, in cash, equal quarterly installments of
$[  .        ] on each Note (except for the [            ], 2011 installment payment, which shall be
$[  .            ] per Note), subject to the Company’s right to extend the Installment Payment Period at any time and from time to time under the circumstances,
and subject to the conditions, set forth in Section 2.03(c). 
 (b) Installment Payment Amount. Each installment
shall constitute a payment of interest (at a rate of [  .    ]% per annum) and a partial repayment of principal on the Note, allocated as set forth in the schedule below. 

 

									
	 Scheduled Installment Payment Date
	 	Amount of Principal	 	 	Amount of Interest	 
			
	[            ], 2011	 	$	[            	] 	 	$	[            	] 
	[            ], 2011	 	$	[            	] 	 	$	[            	] 
	[            ], 2011	 	$	[            	] 	 	$	[            	] 
	[            ], 2012	 	$	[            	] 	 	$	[            	] 
	[            ], 2012	 	$	[            	] 	 	$	[            	] 
	[            ], 2012	 	$	[            	] 	 	$	[            	] 
	[            ], 2012	 	$	[            	] 	 	$	[            	] 
	[            ], 2013	 	$	[            	] 	 	$	[            	] 
	[            ], 2013	 	$	[            	] 	 	$	[            	] 
	[            ], 2013	 	$	[            	] 	 	$	[            	] 
	[            ], 2013	 	$	[            	] 	 	$	[            	] 
	[            ], 2014	 	$	[            	] 	 	$	[            	] 

 Each installment
payment for any Installment Payment Period shall be computed on the basis of a 360-day year of twelve 30-day months. If an installment is payable for any period shorter than a full Installment Payment Period, such installment shall be computed on
the basis of the actual number of days elapsed per 30-day month. Furthermore, if any date on which an installment is payable is not a Business Day, then payment of the installment on such date shall be made on the next succeeding day that is a
Business Day, and without any interest or other payment in respect of any such delay. However, if such Business Day is in the next succeeding calendar year, then such installment payment shall be made on the immediately preceding Business Day, in
each case with the same force and effect as if made on the scheduled Installment Payment Date. 
 (c) Option To Extend
Installment Payment Period. 

  
 6 

 (i) The provisions set forth in Sections 13.01 and 13.02 of the Base
Indenture shall not apply with respect to the Notes. Instead, so long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time, to defer installment payments by extending the
Installment Payment Period, so long as such period of time does not extend beyond [            ], 2017 (the “Extension Period”). The Company may end an Extension
Period on any Installment Payment Date occurring on or before [            ], 2014 or, in the case of an Extension Period that extends beyond
[            ], 2014, on any Business Day thereafter that is on or before [            ], 2017. 

(ii) At the end of any Extension Period, the Company shall pay all installment payments for which the related Installment
Payment Date occurred during such Extension Period, together with interest on the full amount of such installment payments compounded quarterly at the rate of [            ]% per
annum to the extent permitted by applicable law. The Company shall give holders of Units and Separate Notes at least 10 Business Days’ notice of the end of an Extension Period. 

(iii) Prior to the termination of any Extension Period, the Company may further defer installment payments by extending
such Extension Period. Such Extension Period, including all such previous and further extensions, may not extend beyond [            ], 2017. Upon the termination of any Extension
Period and the payment of all amounts then due, the Company may commence a new Extension Period, if consistent with the terms set forth in this Section 2.03(c). No installment payment (or interest thereon) during an Extension Period, except at
the end of such Extension Period, shall be due and payable. 
 (iv) The Company shall give the holders of Units
and Holders of Separate Notes notice of its election of an Extension Period (or any extension thereof) at least 10 Business Days prior to the earlier of (x) the next succeeding Installment Payment Date; and (y) the date the Company is
required to give notice of the record or payment date of such installment payment to the New York Stock Exchange or other applicable self-regulatory organization or to holders of Units and Holders of Separate Notes. 

(d) Restrictions Applicable During an Extension Period and Certain Other Circumstances. The provisions set forth in
Section 13.03 of the Base Indenture shall apply with respect to the Notes, except that solely for purposes of the Notes: 
 (i) clauses (i) and (ii) of such Section shall be deemed to be replaced with the text “if (i) the Company exercises its right to defer installment payments under Section 2.03(c)
of the First Supplemental Indenture, dated as of June [    ], 2011, to this Indenture, or (ii) there shall have occurred and be continuing any Default”; 

(ii) the text “, in each case, solely to the extent required pursuant to binding contractual agreements entered into
prior to or on the original issue date of the Securities of this series or any subsequent agreement for the accelerated exercise, settlement or 

  
 7 

 
exchange thereof for capital stock of the Company,” in clause (a)(iii) of such Section shall be replaced with the text “or as a result of Early Settlement of any Purchase Contracts or
as a result of the Company’s election of its Early Mandatory Settlement Right,”; 
 (iii) the words
“or for any class or series of capital stock of the Company” shall be added at the end of clause (b)(iii) of such Section; and 
 (iv) each reference in such Section to “Securities” and “Securities of such series” shall be deemed to be replaced with the word “Notes.” 

ARTICLE 3 

REDEMPTION 
 Section 3.01. Redemption. Article 11 of the Base Indenture (Redemption of Securities) shall not apply with respect to the Notes. 

ARTICLE 4 

REPURCHASE OF NOTES AT THE OPTION
OF THE HOLDER 
 Section 4.01. Offer to Repurchase. If (a) the
Company elects to exercise its Early Mandatory Settlement Right and (b) at the time of such election there is not an Extension Period in effect and the Company has not given notice pursuant to Section 2.03(c)(iv) that it intends to defer
future scheduled installment payments, then holders of Units and Holders of Separate Notes shall have the right (the “Repurchase Right”) to require the Company to repurchase some or all of their Notes for cash at the Repurchase
Price per Note to be repurchased on the Repurchase Date, as described in Section 4.03. The Company shall not be required to repurchase any or all of a Holder’s Notes in connection with any Early Settlement of such Holder’s Purchase
Contracts at the Early Settlement Rate in accordance with the Purchase Contract Agreement. 
 Section 4.02. Conditions
to Exercise. Notwithstanding Section 4.01, Holders may exercise the Repurchase Right if an Extension Period is in effect or the Company has given notice that it intends to defer future scheduled installment payments, if, at the time the
Company elects to exercise its Early Mandatory Settlement Right, it has received any required regulatory approval or consent from the Federal Reserve or its staff to extend the Repurchase Right to Holders. 

Section 4.03. Procedures for Exercise. 
 (a) To exercise the Repurchase Right, a Holder must deliver, on or before the close of business on the second Business Day immediately preceding the Repurchase Date, the Notes to be repurchased (or the
Units including such Notes, if the Early Mandatory Settlement Date falls 

  
 8 

 
on or after the Repurchase Date and such Units have not been separated into their constituent components), together with a duly completed written Repurchase Notice, in each case in accordance
with appropriate DTC procedures, unless such Notes are Physical Notes (or the Units including such Notes are in certificated form), in which case such Holder must deliver the Notes to be repurchased (or the Units that include the Notes to be
repurchased), duly endorsed for transfer, together with a Repurchase Notice, to the Paying Agent. 
 (b) The Repurchase Notice
must state the following: 
 (i) if certificated Notes or Units have been issued, the certificate numbers of the
Notes or Units, or if the Notes are Global Notes, the Repurchase Notice must comply with appropriate DTC procedures; 
 (ii) the number of Notes to be repurchased; and 
 (iii) that the
Notes are to be repurchased by the Company pursuant to the applicable provisions of the Notes and the Indenture. 
 (c) Upon
surrender of a Physical Note that is to be repurchased in part pursuant to this Section 4.03, the Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Physical Note in an authorized denomination equal in
principal amount to the unrepurchased portion of the Physical Note surrendered. 
 Section 4.04. Withdrawal of
Repurchase Notice. 
 (a) A Holder may withdraw any Repurchase Notice (in whole or in part) by a written, irrevocable notice
of withdrawal delivered to the Trustee, prior to the close of business on the second Business Day immediately preceding the Repurchase Date. 
 (b) The notice of withdrawal must state the following: 
 (i) the
number of the withdrawn Notes; 
 (ii) if certificated Notes or Units have been issued, the certificate numbers
of the withdrawn Notes or Units, or if the Notes or Units are in global form, the notice of withdrawal must comply with appropriate DTC procedures; and 
 (iii) the number of Notes, if any, that remain subject to the Repurchase Notice. 

(c) The Company shall be required to repurchase the Notes to be repurchased on the Repurchase Date. A Holder electing to exercise the
Repurchase Right shall receive payment of the Repurchase Price on the later of (i) the Repurchase Date and (ii) the time of book-entry transfer or the delivery of the Notes or the Units. 

  
 9 

 (d) If the Trustee holds money sufficient to pay the Repurchase Price of the Notes to be
repurchased on the Repurchase Date, then (i) such Notes shall cease to be outstanding and interest shall cease to accrue (whether or not book-entry transfer of the Notes or the Units is made or whether or not the Notes or the Units are
delivered to the Trustee); and (ii) all other rights of the Holder shall terminate (other than the right to receive the Repurchase Price). 
 (e) The Company shall, in connection with any repurchase offer pursuant to an Early Mandatory Settlement Notice, if required, (i) comply with the provisions of Rule 13e-4, Rule 14e-1 and any other
tender offer rules under the Exchange Act that may then be applicable; and (ii) file a Schedule TO or any other required schedule under the Exchange Act, in each case, so as to permit the rights and obligations under this Article 4 to be
exercised in the time and in the manner specified in this First Supplemental Indenture. 
 (f) Notwithstanding anything to the
contrary herein, no Notes may be repurchased at the option of Holders if the principal amount thereof has been accelerated, and such acceleration has not been rescinded, on or prior to the Repurchase Date (except in the case of an acceleration
resulting from a Default by the Company of the payment of the Repurchase Price with respect to such Notes). 

Section 4.05. Defeasance. For the avoidance of doubt, the provisions of Article 4 of the Base Indenture shall apply to the
Notes. 
 Section 4.06. No Sinking Fund. The Notes are not entitled to the benefit of any sinking fund. 

ARTICLE 5 

FORM OF NOTE 
 Section 5.01. Form of Note. The Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the forms attached as Exhibit A hereto, with such
changes therein as the officers of the Company executing the Notes (by manual or facsimile signature) may approve, such approval to be conclusively evidenced by their execution thereof. 

ARTICLE 6 

DEFAULTS 
 Section 6.01. Events of Default. For purposes of the Notes, the text set forth in clause (a) of Section 5.01 of the Base Indenture shall be replaced with the following: “failure
to pay in full all deferred installment payments on the Notes on or by [            ], 2017, and continuance of such failure to pay for a period of 30 days;”. 

  
 10 

 Section 6.02. Defaults. In addition to the Default set forth in
Section 5.07(c) of the Base Indenture, each of the following shall constitute a “Default” with respect to the Notes: 
 (a) an Event of Default, including the Event of Default described in Section 6.01 and excluding the Event of Default described in Section 5.01(a) of the Base Indenture; 

(b) a default for 30 days in the payment of any installment payment on any Note when such payment is due (taking into account any
Extension Period); 
 (c) failure to give notice of a Fundamental Change, as required under the Purchase Contract Agreement; and

 (d) failure to pay the Repurchase Price in connection with any Holder’s exercise of its Repurchase Right. 

The Defaults set forth in Section 5.07(a), (b), (c), (d), (f) and (g) of the Base Indenture shall not apply with respect
to the Notes. 
 Notwithstanding anything to the contrary herein, Holders shall not have the right to accelerate the Notes in
accordance with Section 5.02 of the Base Indenture with respect to Defaults, except for Defaults that are also Events of Default. In addition, the Trustee may withhold notice to the Holders of any Default with respect to the Notes, except in
the failure to make an installment payment, or the payment of the Repurchase Price, if it considers such withholding to be in the interests of Holders. 
 ARTICLE 7 
 TAX TREATMENT 

Section 7.01. Tax Treatment. The Company and each Holder agree, for United States federal income tax purposes, to treat the
Notes as indebtedness. 
 ARTICLE 8 
 SUBORDINATION 
 Section 8.01. Subordination. The
provisions of Article 14 of the Base Indenture shall apply with respect to the Notes. 

  
 11 

 ARTICLE 9 
 CHANGES TO REFLECT ABSENCE OF GMAC TRUST 
 Section 9.01. General. The Notes will not be issued to a GMAC Trust. Accordingly, all references to “GMAC Trust” (except in respect of the definition of “Senior
Indebtedness” in the Base Indenture) and terms and provisions related thereto shall not apply with respect to the Notes. 

Section 9.02. Specific Changes. In furtherance of Section 9.01, but without limitation thereto, the following terms and
provisions in the Base Indenture shall not apply to the Notes: 
 (a) The following defined terms in the Base Indenture and the
related uses of those terms in the Base Indenture shall not apply: Administrative Trustee, Common Securities, Declaration, Delaware Trustee, Direct Action, Dissolution Event, Distributions, GMAC Trust, Institutional Trustee, Non Book-Entry Trust
Preferred Securities, Special Event, Trust Preferred Securities, Trust Preferred Security Certificate and Trust Securities. 

(b) The following complete Sections or Subsections of the Base Indenture shall not apply: Section 3.12(a), Section 4.02(vii),
Section 4.03(i)(F), Section 9.02(d) (and the provisos immediately thereafter), Section 10.05, Section 10.06(a), Section 10.07 and Section 15.01. 
 (c) The following other provisions of the Base Indenture shall not apply: 
 (i) the last sentence of Section 3.10(a) of the Base Indenture and the words “, which, in respect of any Securities of which the Institutional Trustee of the applicable series of any GMAC Trust
is the Holder or a Global Security, shall be the close of business on the Business Day next preceding that Interest Payment Date” immediately preceding such sentence; 

(ii) the last sentence of Section 3.11 of the Base Indenture; 

(iii) the last paragraph of Section 4.01 of the Base Indenture; 

(iv) the proviso at the end of the first sentence of Section 5.02 of the Base Indenture; 

(v) the proviso in the penultimate sentence of Section 5.02 of the Base Indenture up to the semi-colon immediately
following such proviso; 
 (vi) the last sentence of Section 5.06(a) of the Base Indenture; 

(vii) the provisos at the end of the first sentence of Section 5.06(b) of the Base Indenture; 

(viii) the last sentence of Section 5.06(b) of the Base Indenture; and 

  
 12 

 (ix) the second sentence of Section 10.06(b) of the Base Indenture.

 ARTICLE 10 
 MISCELLANEOUS 
 Section 10.01. Ratification of Indenture.
The Indenture, as supplemented by this First Supplemental Indenture, is in all respects ratified and confirmed, and this First Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein
provided. 
 Section 10.02. Trustee Not Responsible for Recitals. The recitals herein contained are made by the
Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Seventh Supplemental Indenture. 

Section 10.03. New York Law to Govern. THIS FIRST SUPPLEMENTAL INDENTURE AND EACH NOTE SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND ALL RIGHTS AND REMEDIES SHALL BE GOVERNED BY SUCH LAWS WITHOUT REGARD FOR THE PRINCIPLES OF ITS CONFLICT OF LAWS; PROVIDED THAT ALL RIGHTS AND OBLIGATIONS OF THE UNITED
STATES DEPARTMENT OF THE TREASURY UNDER THE INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE FEDERAL LAWS OF THE UNITED STATES OF AMERICA. 
 Section 10.04. Separability. In case any one or more of the provisions contained in this First Supplemental Indenture or in the Notes shall for any reason be held to be invalid, illegal or
unenforceable in any respect, then, to the extent permitted by law, such invalidity, illegality or unenforceability shall not affect any other provisions of this First Supplemental Indenture or of the Notes, but this First Supplemental Indenture and
the Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 
 Section 10.05. Counterparts. This First Supplemental Indenture may be executed in any number of counterparts each of which shall be an original, but such counterparts shall together constitute
but one and the same instrument. 
 Section 10.06. Modifications. No modification or amendment to the Indenture
through a supplemental indenture shall be made, without the consent of the Holder of each outstanding Note affected thereby, that would (a) modify the installment payment terms of the Notes or (b) reduce the percentage of Holders of Notes
necessary to modify or amend the Indenture or waive compliance by the Company with any covenant or past Default. 

[Remainder of Page Left Intentionally Blank] 

  
 13 

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

			
	ALLY FINANCIAL INC.
		
	By:	 	  

		 	Name:
		 	Title:

 
			
	THE BANK OF NEW YORK MELLON,
	 as Trustee

		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT A 
 [FORM OF FACE OF NOTE] 
 [INCLUDE IF A GLOBAL NOTE] 

[THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE
DEPOSITARY NAMED BELOW OR A NOMINEE OF THE DEPOSITARY. THIS NOTE IS NOT EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED HEREIN AND IN THE INDENTURE, AND
NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN THE
LIMITED CIRCUMSTANCES DESCRIBED HEREIN. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 

  
 A-1

 ALLY FINANCIAL INC. 

[    .        ]% JUNIOR SUBORDINATED AMORTIZING NOTES DUE
[            ], 2014 
 [REGISTERED] 

CUSIP: [            ] 

ISIN: [            ] 

 

			
	No.     	  	[Initial]3 Number of Notes             

 ALLY FINANCIAL INC., a Delaware corporation (the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises
to pay to CEDE & CO., or registered assigns, the initial principal sum of $[    .        ] for each of the number of Notes set forth above[, or such lesser number of
Notes as set forth in the Schedule of Increases or Decreases in Global Note attached hereto,]4 in quarterly installments (each constituting a payment of interest at the rate per year of [    .        ]% and a partial
repayment of principal) payable on [            ], [            ],
[            ] and [            ] of each year (each such date, an “Installment Payment Date”),
commencing on [            ], 2011, all as set forth on the reverse hereof, with the final scheduled installment due and payable on
[            ], 2014. The installment amount payable on any Installment Payment Date shall be computed on the basis of a 360-day year consisting of twelve 30-day months. If an
installment is payable for any period shorter than a full Installment Payment Period, such installment shall be computed on the basis of the actual number of days elapsed per 30-day month. Furthermore, if any date on which an installment is payable
is not a Business Day, then payment of the installment on such date will be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay. However, if such Business Day is in the next
succeeding calendar year, then such installment payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the scheduled Installment Payment Date. 

Installments shall be paid to the person in whose name the Note is registered, with limited exceptions, as of the close of business on
the Business Day immediately preceding the related Installment Payment Date (each, a “Regular Record Date”). If the Notes do not remain in book-entry only form, the Company shall have the right to select Regular Record Dates, which
will be more than 14 days but less than 60 days prior to the relevant Installment Payment Date. Any such installment payment not punctually paid or duly provided for on any Interest Payment Date 

 

	3 	Include if a Global Note. 

	4 	 Include if Global Note. 

  
 A-2

 
shall forthwith cease to be payable to the registered Holders at the close of business on such Regular Record Date and may be paid to the Person in whose name this Note (or one or more successor
Notes) is registered at the close of business on a special record date to be fixed by the Trustee for the payment of such defaulted installment, and notice whereof shall be given to the registered Holders of the Notes not less than 10 days prior to
such special record date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more
fully provided in the Indenture. Installments shall be payable at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York; provided, however, that payment of installments may be
made at the option of the Company by check mailed to the registered Holder at such address as shall appear in the Security Register or by wire transfer to an account appropriately designated by the Holder entitled to payment. 

This Note shall not be entitled to any benefit under the Indenture hereinafter referred to or be valid or obligatory for any purpose
until the Certificate of Authentication shall have been signed by or on behalf of the Trustee. 
 The provisions of this Note
are continued on the reverse side hereof and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 
 In the case of any conflict between this Note and the Indenture, the provisions of the Indenture shall control. 
 [Remainder of Page Left Intentionally Blank] 

  
 A-3

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

Dated: 
  

			
	 ALLY FINANCIAL INC.,
as Issuer

		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Attest
		
	By:	 	  

		 	Name:
		 	Title:

  
 A-4

 CERTIFICATE OF AUTHENTICATION 

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

Dated: 
  

			
	 THE BANK OF NEW YORK MELLON,
as Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 A-5

 [FORM OF REVERSE OF NOTE] 

ALLY FINANCIAL INC. 
 This Note is one of a duly authorized series of Securities of the Company designated as its [    .        ]% Junior Subordinated
Amortizing Notes due [            ], 2014 (the “Notes”), issued under the Amended and Restated Indenture, dated as of March 1, 2011, between the Company and The
Bank of New York Mellon, as trustee (the “Trustee,” which term includes any successor trustee under the Indenture) (the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated June
[    ], 2011, between the Company and the Trustee (as so supplemented, the “Indenture”), to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations,
duties and immunities thereunder of the Trustee, the Company and the Holders. The terms of other series of Securities issued under the Indenture may vary with respect to interest rates, issue dates, maturity, redemption, repayment, currency of
payment and otherwise as provided in the Indenture. The Indenture further provides that securities of a single series may be issued at various times, with different maturity dates and may bear interest at different rates. This series of Securities
is limited in aggregate principal amount as specified in said First Supplemental Indenture. 
 Each installment shall constitute
a payment of interest (at a rate of [    .        ]% per annum) and a partial repayment of principal on the Note, allocated as set forth in the schedule below. 

 

									
	 Scheduled Installment Payment Date
	  	Amount of Principal	 	 	Amount of Interest	 
			
	[            ], 2011	  	$	[            	] 	 	$	[            	] 
	[            ], 2011	  	$	[            	] 	 	$	[            	] 
	[            ], 2011	  	$	[            	] 	 	$	[            	] 
	[            ], 2012	  	$	[            	] 	 	$	[            	] 
	[            ], 2012	  	$	[            	] 	 	$	[            	] 
	[            ], 2012	  	$	[            	] 	 	$	[            	] 
	[            ], 2012	  	$	[            	] 	 	$	[            	] 
	[            ], 2013	  	$	[            	] 	 	$	[            	] 
	[            ], 2013	  	$	[            	] 	 	$	[            	] 
	[            ], 2013	  	$	[            	] 	 	$	[            	] 
	[            ], 2013	  	$	[            	] 	 	$	[            	] 
	[            ], 2014	  	$	[            	] 	 	$	[            	] 

 The Notes shall not
be subject to redemption at the option of the Company. However, a Holder shall have the right to require the Company to repurchase some or all of its Notes for cash at the Repurchase Price per Note to be repurchased on the Repurchase Date, upon the
occurrence of certain events and subject to the conditions set forth in the Indenture. 
 The Notes are not entitled to the
benefit of any sinking fund. The Indenture contains provisions for defeasance and covenant defeasance at any time of the indebtedness on the Notes 

  
 A-6

 
upon compliance by the Company with certain conditions set forth therein, which provisions apply to the Notes. 
 If an Event of Default with respect to the Notes shall occur and be continuing, then either the Trustee or the Holders of not less than 25% in principal amount of the Notes of this series then outstanding
may declare the principal of all the Notes then outstanding, and all interest accrued thereon, including any compound interest, and any other amounts payable under the Indenture, to be due and payable immediately, in the manner, subject to the
conditions and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided,
the Company and the Trustee, with the consent of the Holders of not less than a majority in principal amount of the Notes at the time outstanding, to execute supplemental indentures for certain purposes as described therein. 

No provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay installments on this Note at the time, place and rate, and in the coin or currency, herein and in the Indenture prescribed, subject to the Company’s right to defer installment payments as described therein. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note shall be registered on the
Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, The City of New York, duly endorsed by, or accompanied by a written instrument of transfer
in form satisfactory to the Company duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Notes of like tenor, of authorized denominations and for the same aggregate principal amount, shall
be issued to the designated transferee or transferees. 
 The Notes are initially issued in registered, global form without
coupons in initial minimum denominations of one Note and integral multiples in excess thereof. 
 No service charge shall be
made for any such registration of transfer or exchange, but the Company or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Issuer or the Trustee
may treat the Holder in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, AND ALL RIGHTS
AND REMEDIES SHALL BE GOVERNED BY SUCH LAWS WITHOUT REGARD FOR THE PRINCIPLES OF ITS CONFLICT OF LAWS; 

  
 A-7

 
PROVIDED THAT ALL RIGHTS AND OBLIGATIONS OF THE UNITED STATES DEPARTMENT OF THE TREASURY UNDER THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE FEDERAL
LAWS OF THE UNITED STATES OF AMERICA. 
 All terms used in this Note which are defined in the Indenture and not otherwise
defined herein shall have the meanings assigned to them in the Indenture. 
 No recourse shall be had for the payment of any
installment on this Note, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of
any predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the
consideration for the issuance hereof, expressly waived and released. 
 The Company and each Holder agree, for United States
federal income tax purposes, to treat the Notes as indebtedness. 
 [Remainder of Page Left Intentionally Blank]

  
 A-8

 ASSIGNMENT 
  

			
	FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to:	 	
		
	  
	 	
		
	  
	 	
		
	(Insert assignee’s social security or tax identification number)	 	
		
	  
	 	
		
	  
	 	
		
	  
	 	
		
	(Insert address and zip code of assignee)	 	
		
	and irrevocably appoints	 	
		
	  
	 	
		
	  
	 	
		
	  
	 	

 agent to transfer this Note on the books of the Company. The agent may substitute another to act for him or her.

  

			
	Date:                     	 	
		
		 	Signature:
		
		 	  

		
		 	Signature Guarantee:
		
		 	  

 (Sign exactly as your name appears on the other side of this Note) 

  
 A-9

 SIGNATURE GUARANTEE 
 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934,
as amended. 
  

									
	By:	 	  
	 		 	
		 	Name	 		 	
		 	Title:	 		 	
				
		 		 		 	THE BANK OF NEW YORK MELLON
		 		 		 	as Trustee
					
		 		 		 	By:	 	  

		 		 		 		 	Name
		 		 		 		 	Title:
				
	Attest:	 		 		 	
					
	By:	 	  
	 		 		 	
		 	Name	 		 		 	
		 	Title:	 		 		 	

  
 A-10

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN A GLOBAL NOTE 
 The initial number of Notes evidenced by this Global Note is             .The following increases or decreases in this Global Note have
been made: 
  

									
	 Date
	  	 Amount of decrease in
number of Notes

evidenced by this
 Global Note
	  	 Amount of increase in
number of Notes

evidenced by this
 Global Note
	  	 Number of Notes

evidenced by this
 Global Note following
 such decrease (or

increase)
	  	 Signature of

authorized officer of
Trustee

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A-11

 ATTACHMENT 1 
 [FORM OF REPURCHASE NOTICE] 
 To: Ally Financial Inc. 

The undersigned registered owner of this Note hereby acknowledges receipt of a notice from Ally Financial Inc. (the
“Company”) as to the Company’s election to exercise its Early Mandatory Settlement Rate in which the Company specified the Repurchase Date and requests and instructs the Company to pay to the registered holder hereof the
Repurchase Price in accordance with Article 4 of the First Supplemental Indenture referred to in this Note. 
 In the case of
Physical Notes, the certificate numbers of the Notes to be repurchased are as set forth below: 
 Dated:
                     
  

	
	  

	Signature(s)
	
	  

	 Social Security or Other Taxpayer
 Identification Number

	
	Principal amount to be repaid (if less than all):
	$            ,000
	
	NOTICE: The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or
any change whatever.

  
 A-12

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