Document:

EX-10.28

 Exhibit 10.28 

SUBLEASE 
 BETWEEN

 NETFLIX, INC. 

AND 
 ROKU, INC.

 150 WINCHESTER CIRCLE 

LOS GATOS, CALIFORNIA 

August 18, 2015 

 SUBLEASE 

THIS SUBLEASE (“Sublease”) is entered into as of August 18, 2015, by and between NETFLIX, INC., a Delaware corporation
(“Sublandlord”), and ROKU, INC., a Delaware corporation (“Subtenant”), with reference to the following facts: 

A. Pursuant to that certain Lease dated June 26, 2006, as the same has been amended by Amendments to Lease dated March 19, 2008,
March 15, 2010, and August     , 2015 (as amended, the “Master Lease”). Sobrato Land Holdings, a California limited partnership (“Landlord”), as landlord, leases to
Sublandlord, as tenant, certain space (the “Master Lease Premises”) consisting of the entire rentable area of the three-story office building located at 150 Winchester Circle in the Town of Los Gatos, California
(the “Building”). The Building contains a total rentable area of approximately 83,728 rentable square feet. 
 B.
Subtenant wishes to sublease from Sublandlord, and Sublandlord wishes to sublease to Subtenant, the Master Lease Premises (in phases as provided for herein), said space being more particularly identified and described on the floor plan attached
hereto as Exhibit A and incorporated herein by reference (the “Subleased Premises”). 
 C. Sublandlord also
leases from Landlord the adjacent three-story office building located at 100 Winchester Circle (the “100 Winchester Building”), and together with this Sublease, Sublandlord and Subtenant are entering into sublease pursuant to which
Subtenant will sublease a portion of the 100 Winchester Building from Sublandlord (the “100 Winchester Sublease”). 

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged by the parties, Sublandlord and Subtenant hereby agree as follows: 
 1. Sublease. 

1.1 Subleased Premises. Sublandlord hereby subleases to Subtenant and Subtenant hereby subleases from Sublandlord for the term, at the
rental, and upon all of the conditions set forth herein, the Subleased Premises. The Subleased Premises shall consist of two phase: (i) floors 1 and 2 of the Building (“Phase 1”) and (ii) floor 3 of the Building
(“Phase 2”) (Phase 1 and Phase 2 are referred to individually as a “Phase” and collectively as the “Phases”). The Phases shall be delivered and the Term of this Sublease shall commence with respect
to each Phase as provided for in Section 2.1. 
 (a) Subleases Contingency. Sublandlord and Subtenant acknowledge and agree that
this Sublease is subject to and conditioned upon the full execution and delivery by Sublandlord and Subtenant concurrently herewith (and receipt of master landlord consent, as applicable) of the following additional subleases: (i) the 100
Winchester Sublease, and (ii) a sublease of the building located at 170-180 Knowles Drive, Los Gatos (the “Knowles Drive Building”) that is currently leased by Sublandlord from Knowles Los Gatos, LLC pursuant to a Lease
Agreement dated June 11, 2010. 

  
 1 

 1.2 Landlord’s Consent. Under the Master Lease, Sublandlord must obtain the consent
of Landlord to any subletting. Therefore, and notwithstanding anything set forth in this Sublease to the contrary, this Sublease and the effectiveness hereof is conditioned upon Landlord’s consent to this Sublease as required under the terms of
the Master Lease and in form and substance reasonably acceptable to Subtenant (the “Consent”), which Consent must be executed and delivered by Landlord, Sublandlord and Subtenant on or before August 31, 2015 (the date of the
full execution and delivery of the Consent being referred to herein as the “Consent Date”). 
 1.3 Rentable Area.
Sublandlord and Subtenant hereby agree that for all purposes of this Sublease the rentable square footage of the Subleased Premises shall be deemed to be (i) 55,247 for Phase 1, and (ii) 27,624 for Phase 2, and shall not be subject to
remeasurement 
 1.4 Access to Subleased Premises and Building. Subtenant and its employees, visitors and invitees shall have access
to the Subleased Premises (i) through the main entrance of the Building (ii) via the stairway from the side entrance to the Building (access card controlled), and (iii) via the elevators from the parking garage (access card
controlled). In addition, from and after Subtenant’s occupancy of the 3rd floor of the 100 Winchester Building, Subtenant shall have access to the Subleased Premises by means of the 3rd floor connecting bridge between Phase 2 and the third
floor of the 100 Winchester Building (the “Connecting Bridge”). So long as Sublandlord continues to occupy the third floor of the Building: (i) Sublandlord shall have access to such portion of the Building (1) via the
stairway from the side entrance to the Building (access card controlled), (2) for those requiring ADA access, via the elevator from the parking garage (access card controlled), and (3) by means of the Connecting Bridge; and
(ii) Sublandlord shall have emergency ingress and egress to and from the third floor of the Building through the main entrance on the ground floor and by use of the elevators and main internal stairway serving the Building. Prior to the Early
Access Date for Phase 1, Sublandlord shall (at no cost or expense to Subtenant other than the actual cost [without mark-up] of access cards) configure the entry control system for the Building pursuant to the specifications more particularly
described on Exhibit E attached hereto (the “Entry Control System”) such that Subtenant shall have card controlled access to the Subleased Premises as noted above, and virtual/remote access to the Entry Control System
including access to and control of the cameras and recording equipment pertaining to the Subleased Premises and any common areas or common entryways shared by Subtenant and Sublandlord in the Building. Sublandlord shall operate and maintain the
Entry Control System for the Building during the Term at no cost or expect to Subtenant other than the actual cost (without mark-up) of access cards. Subtenant shall have access to the Subleased Premises on a 24/7 basis. 

(a) Use of MPOE and IDF Rooms. Subtenant shall have access to and use of the MPOE and IDF rooms serving the Building depicted on
Exhibit F attached hereto during the Term of this Sublease. During the period that Sublandlord continues to occupy the third floor of the Building. Sublandlord and Subtenant shall share the use of the MPOE and IDF rooms and: (i) Sublandlord
and Subtenant shall cooperate so as to permit Subtenant to install cabling and equipment for its telecom requirements in the MPOE and IDF rooms (including the assignment of racks in the IDF for use by Sublandlord and Subtenant), (ii) access to
the MPOE and IDF rooms shall be subject to Sublandlord’s reasonable rules and regulations regarding security and each party’s advance notice to the other of entry into the MPOE and/or IDF rooms,

  
 2 

 
and (iii) Sublandlord shall maintain the MPOE and IDF rooms in good condition and repair and Subtenant shall pay Subtenant’s Allocable Share of the cost thereof pursuant to
Section 3.4(b) below. From and after the Phase 2 Commencement Date for the balance of the Term of this Sublease, Subtenant shall maintain such rooms in good condition and repair, at its sole cost and expense. If there is space available in the
existing conduit running between the Building and the Knowles Drive Building, Subtenant may utilize such conduit to connect its telecom systems in such buildings; and if adequate space is not available in such conduit, Subtenant may install an
additional conduit between such buildings, subject to the terms and conditions of the Master Lease pertaining to Alterations. 
 2.
Term. 
 2.1 Generally. The term of this Sublease (the “Term”) shall commence with respect to each Phase of
the Subleased Premises as follows: 
 (a) Phase 1. The Term of this Sublease with respect to Phase 1 of the Subleased Premises shall
commence on the later to occur of (i) January 1, 2016 and (ii) the Sublandlord’s substantial completion of the Sublandlord’s Work described on Exhibit H attached hereto (“Phase 1 Commencement Date”).

 (b) Phase 2. The Term of this Sublease with respect to Phase 2 of the Subleased Premises shall commence April 1, 2017 (the
“Phase 2 Commencement Date”). 
 The Term of this Sublease with respect to the entire Subleased Premises shall
end on December 31, 2020 (the “Expiration Date”), unless sooner terminated pursuant to any provision hereof. Upon the occurrence of the Commencement Date for each Phase. Sublandlord and Subtenant will enter into a letter
agreement in the form of Exhibit B attached hereto. 
 2.2 Adjustments. Notwithstanding the provisions of Section 2.1
above with respect to the Expiration Date, if, pursuant to the terms of the Master Lease, Sublandlord is required by Landlord to remove any improvements or alterations in the Subleased Premises on or before the date of expiration of the Master
Lease. Sublandlord shall have the right, by written notice to Subtenant, to accelerate the Expiration Date to November 30, 2020, in order to provide Sublandlord with sufficient time following the Expiration Date in which to enter the Subleased
Premises and perform any required restoration/repair work. Sublandlord agrees to give any such acceleration notice to Subtenant promptly following Sublandlord’s determination that Landlord will require any such restoration or repair, but in no
event later than May 1, 2020. Any such restoration or repair work shall be at Sublandlord’s sole cost and expense, to the extent such required restoration relates to improvements installed in the Subleased Premises by or on behalf of
Sublandlord prior to the date hereof; and nothing set forth herein is intended to relieve Subtenant of the obligation to remove any improvements installed in the Subleased Premises by or on behalf of Subtenant, to the extent that such removal may be
required pursuant to the terms of the Master Lease. Notwithstanding the foregoing, however, within ten (10) days following any Subtenant request for Sublandlord’s consent to any tenant improvements or alterations. Sublandlord shall notify
Subtenant in writing whether or not such tenant improvement or alteration will be required by Sublandlord to be removed upon expiration of the Term of this Sublease; provided, however, that if Sublandlord does not exercise its Option to extend the
Lease Term (as defined in the Master Lease) and Landlord has not required such tenant improvement or alteration to be removed upon expiration of the stated Lease Term under the Master Lease, then Subtenant shall not be required to remove such tenant
improvement or alteration. 

  
 3 

 2.3 Early Access. Subtenant and Subtenant’s representatives shall have the right to
enter each Phase of the Subleased Premises from and after the later to occur of (i) October 1, 2015, in the case of Phase 1, and January 1, 2017, in the case of Phase 2 (or such earlier date as Sublandlord may make either Phase of the
Subleased Premises available for entry by Subtenant), and (ii) the Consent Date, so long as and on the condition that prior to such entry Subtenant shall have delivered to Sublandlord (A) the pre-paid Monthly Rent required pursuant to
Section 3.3 below, (B) the Security required pursuant to Section 4 below, and (C) evidence of Subtenant’s procurement of all insurance coverage required hereunder (the date upon which Subtenant first has such access to each
Phase of the Subleased Premises being referred to herein as the “Early Access Date”) for the sole purposes of installation of Subtenant’s personal property and equipment, furniture, fixtures and voice and data cabling, all
subject to the terms, conditions and requirements of the Master Lease. All of the rights and obligations of the parties under this Sublease with respect to each Phase of the Subleased Premises (other than Subtenant’s obligation to pay Monthly
Rent with respect to such Phase, but expressly including, without limitation, Subtenant’s obligation to pay utility charges and Tenant’s Allocable Share of Reimbursable Operating Costs. Subtenant’s obligation to carry insurance, and
Subtenant’s indemnification obligations) shall commence upon the Early Access Date for such Phase of the Subleased Premises. Subtenant shall reasonably coordinate such entry with Sublandlord, and such entry shall be made in compliance with all
terms and conditions of this Sublease, the Master Lease and the rules and regulations attached to the Master Lease. 
 3. Rent. 

3.1 Base Rent. Subtenant shall pay to Sublandlord as base rent for each Phase of the Subleased Premises from and after the Commencement
Date for such Phase and continuing throughout the Term (“Base Rent”), in accordance with the following schedule: 
  

					
	 Period
	  	Base Rent Rate Per Rentable
Square Foot Per Month For
Each Phase, as applicable	 
	 Phase 1 Commencement Date through and including December 31, 2016
	  	$	3.00	 
	 January 1, 2017 through and including December 31, 2017
	  	$	3.09	 
	 January 1, 2018 through and including December 31, 2018
	  	$	3.18	 
	 January 1, 2019 through and including December 31, 2019
	  	$	3.28	 
	 January 1, 2020 through and including Expiration Date
	  	$	3.38	 

 3.2 Furniture, Fixtures & Equipment Rent. Subtenant shall pay to Sublandlord as rent
for Subtenant’s use of the FF&E (defined below) during the Term as provided for in Section 18, the following amount: (i) for Phase 1, $10,095 per month from and after the Phase 1 Commencement Date, and (ii) for Phase 2,
$2,754 per month from and after the Phase 2 Commencement Date (as applicable to each Phase, the “FF&E Rent”). 

  
 4 

 3.3 Monthly Payments. Base Rent and FF&E Rent (collectively), “Monthly
Rent”) shall be paid on the first day of each month of the Term, except that Subtenant shall pay the amount of the Monthly Rent for Phase 1 for the first month of the Term to Sublandlord
within five (5) days following the Consent Date; and said pre-paid Monthly Rent will be applied to the first (1st) month’s Monthly Rent for Phase 1 due and payable hereunder. If the Term does not begin on the first day of a calendar month
or end on the last day of a month, the Monthly Rent and Additional Rent (hereinafter defined) for any partial month shall be prorated by multiplying the Monthly Rent and Additional Rent for such month by a fraction, the numerator of which is the
number of days of the partial month included in the Term and the denominator of which is the total number of days in the full calendar month. All Rent (hereinafter defined) shall be payable in lawful money of the United States either by
(i) wire transfer to such account as Sublandlord designates in writing upon Subtenant’s written request, (ii) automated clearing house funds or other transfer of funds to such account as Sublandlord designates in writing upon
Subtenant’s request, or (iii) by regular or certified mail or recognized overnight courier to Sublandlord’s address set forth in Section 17, below, or to such other persons or at such other places as Sublandlord may designate in
writing. 
 3.4 Additional Rent. 

(a) Definitions. For purposes of this Sublease and in addition to the terms defined elsewhere in this Sublease, the following terms
shall have the meanings set forth below: 
 (1) “Additional Rent” shall mean the sums payable pursuant to
Section 3.4(b) below. 
 (2) “Reimbursable Operating Costs” shall mean Reimbursable Operating Costs (as defined in the
Master Lease) charged by Landlord to Sublandlord pursuant to the Master Lease. 
 (3) “Rent” shall mean, collectively, Base
Rent, FF&E Rent, all Additional Rent, and all other sums payable by Subtenant to Sublandlord under this Sublease, whether or not expressly designated as “rent”, all of which are deemed and designated as rent pursuant to the terms of
this Sublease. 
 (4) “Subtenant’s Allocable Share” shall mean the rentable area of the Subleased Premises (determined
for each Phase of the Subleased Premises) as a percentage of the rentable area of the entire Building. 
 (b) Payment of Additional
Rent. In addition to the Base Rent and FF&E Rent payable pursuant to Sections 3.1 and 3.2, respectively, from and after the Early Access Date for each Phase, Subtenant shall pay, as Additional Rent, the following: 

(1) Landlord’s Costs. The then applicable Subtenant’s Allocable Share of the amounts that accrue from and after the Early
Access Date for each Phase and throughout the Term and that are payable from time to time by Sublandlord under the Master 

  
 5 

 
Lease for: (A) Reimbursable Operating Costs; (B) Landlord’s insurance costs pursuant to Section 9.B of the Master Lease; and (C) Landlord’s taxes pursuant to
Section 10 of the Master Lease. Sublandlord shall give Subtenant written notice of the amount of any Additional Rent payable pursuant to this Section 3.4(b)(1) promptly following the Sublandlord’s receipt of any billing by Landlord
(each, a “Landlord’s Statement”); and Subtenant shall pay to Sublandlord the Subtenant’s Allocable Share of the costs shown on such Landlord’s Statement within twenty (20) days after
Subtenant’s receipt thereof. In the event that Landlord bills Subtenant at any time for and such costs on an estimated basis, Subtenant shall pay the Subtenant’s Allocable Share of such costs on an estimated basis and Sublandlord and
Subtenant shall reconcile such estimated payments for any particular period against the actual costs incurred by Landlord for such period in the same manner as such reconciliation is made under the Master Lease. 

(2) Utilities. Pursuant to Section 11 of the Master Lease, Sublandlord shall remain responsible for paying for all water, gas,
electric and other utilities supplied to the Building. Subtenant shall pay to Sublandlord the Subtenant’s Allocable Share of such utility charges that accrue from and after the Early Access Date for each Phase and throughout the Term; provided,
however, in the event either Subtenant or Sublandlord requests at any time during the Term prior to Phase 2 of this Sublease that the Subleased Premises be submetered for electricity, then the requesting party shall have the right to install a
submeter at the requesting party’s sole cost and expense, and thereafter Subtenant shall pay its actual cost of electricity pursuant to such submeter. Subtenant shall pay to Sublandlord the amount owed by Subtenant for such utility costs
pursuant to this Section 3.4(b)(2) within twenty (20) days after Sublandlord’s delivery of an invoice therefor to Subtenant, including a copy of the applicable bill from the utility provider. Subtenant shall arrange for its telephone
service at the Subleased Premises. Further, and notwithstanding anything set forth above to the contrary, after the Phase 2 Commencement Date and if requested by Subtenant, and to the extent feasible, Sublandlord shall reasonably cooperate with
Subtenant to assist Subtenant to contract directly with all utility providers to the Subleased Premises, in which case Subtenant shall pay such utility costs directly to the utility provider. 

(3) Sublandlord’s Work and Services. Pursuant to Section 8.B of the Master Lease, Sublandlord shall remain responsible for
the cleaning, maintenance and repair of the Master Lease Premises. Subtenant shall pay to Sublandlord the Subtenant’s Allocable Share of the costs incurred by Sublandlord for such work performed and services supplied by Sublandlord
(“Sublandlord’s Work and Services”), including service agreements and maintenance contracts, that accrue from and after the Early Access Date and throughout the Term. Subtenant shall pay to Sublandlord the
amount owed by Subtenant for Sublandlord’s Work and Services as follows: Sublandlord shall give Subtenant written notice from time to time of Sublandlord’s estimate of the monthly costs to be incurred by Sublandlord for Sublandlord’s
Work and Services and the Subtenant’s Allocable Share thereof (“Sublandlord’s Statement”). On or before the first day of each month following Subtenant’s receipt of any such Sublandlord’s Statement,
Subtenant shall pay to Sublandlord as Additional Rent such estimated monthly amount together with the Base Rent owing hereunder. Promptly following the close of each calendar year, Sublandlord shall deliver to Subtenant a statement of the actual
expenses incurred by Sublandlord for Sublandlord’s Work and Services during the prior year. If on the basis of such statement. Subtenant owes an amount that is less than the estimated payments actually made by Subtenant for the calendar year
just ended, Sublandlord shall credit such excess to the next payments of Rent coming due or, if the term of this Sublease is about to expire. 

  
 6 

 promptly refund such excess to Subtenant. If on the basis of such statement Subtenant owes an amount that is more
than the estimated payments for the calendar year just ended previously made by Subtenant, Subtenant shall pay the deficiency to Sublandlord within thirty (30) days after delivery of the statement from Sublandlord to Subtenant. In addition, if the
cost of any Sublandlord’s Work and Services or any item(s) thereof for any period is not otherwise included in a Sublandlord’s Statement, Subtenant shall pay the Subtenant’s Allocable Share thereof within twenty (20) days after
Sublandlord’s delivery of a reasonably detailed invoice therefor to Subtenant. 
 For the avoidance of doubt and notwithstanding the
foregoing, although Sublandlord will provide cleaning and maintenance services for the common areas of the Building as part of the Sublandlord’s Work and Services, the costs of which shall be shared as provided for hereinabove, Sublandlord
shall not provide janitorial services to the Subleased Premises, and Subtenant shall not be charged for janitorial services provided to the areas of the Master Lease Premises that continue to be occupied by Sublandlord. 

(c) Survival. The expiration or earlier termination of this Sublease shall not affect the obligations of Subtenant for the payment of
any items of Additional rent that accrue during the Term, and such obligations shall survive the expiration or earlier termination of this Sublease. 

(d) Audit. In the event Subtenant wishes to conduct an audit with respect to its payment of Additional Rent. Subtenant must notify
Sublandlord in writing within six (6) months after receipt of the Landlord’s Statement or Sublandlord’s Statement, as applicable. In such event, Subtenant shall have the right to review and audit Sublandlord’s books and records
with respect to the Additional Rent, and Subtenant shall pay all costs and expenses related to such audit, except that, in the event Sublandlord has overstated Additional Rent by more than five percent (5%), then Sublandlord shall reimburse
Subtenant for the cost of such review and audit. Sublandlord and Subtenant will reasonably coordinate and cooperate with each other in the performance of such audit. 

4. Security. 
 4.1
Security Amount. Within five (5) days following the Consent Date, Subtenant shall deliver to Sublandlord security (the “Security”) for the faithful performance by Subtenant of all of its obligations under this Sublease
and for all losses and damages Sublandlord may suffer as a result of Subtenant’s default (beyond applicable notice and cure periods) of this Sublease, in the amount equal to $372,920 (the “Security Amount”), either in the form
of a cash Security Deposit or a Letter of Credit, as provided for below. Without prejudice to any other remedy available to Sublandlord under this Sublease or at law, if Subtenant fails to pay rent or other sums due hereunder, or otherwise defaults
(in all events beyond applicable notice and cure periods) with respect to any provisions of this Sublease, Sublandlord may use, apply or retain all or any portion of the Security Deposit or draw on the Letter of Credit, as the case may be, for the
payment of any rent or other sum in default or for the payment of any other sum to which Sublandlord may become obligated by reason of Subtenant’s default, or to compensate Sublandlord for any loss or damage which Sublandlord may suffer thereby
(specifically excluding consequential, special or punitive damages). 

  
 7 

 4.2 Cash Security Deposit. If Subtenant elects to provide such Security in the form of
cash (the “Security Deposit”) and Sublandlord at any time applies all or any portion of the Security Deposit as provided for above, Subtenant shall within ten (10) days after demand therefor deposit cash with Sublandlord in an
amount sufficient to restore the Security Deposit to the full amount thereof and Subtenant’s failure to do so shall be a material breach of this Sublease. If Subtenant performs all of Subtenant’s obligations hereunder, the Security
Deposit, or so much thereof as has not theretofore been applied by Sublandlord, shall be returned, without interest, to Subtenant (or, at Sublandlord’s option, to the last assignee, if any, of Subtenant’s interest hereunder) following the
expiration of the Term, and after Subtenant vacates the Subleased Premises and completes any restoration or repair obligations. No trust relationship is created herein between Sublandlord and Subtenant with respect to the Security Deposit.
Sublandlord shall not be required to keep the Security Deposit separate from its other accounts. Subtenant hereby waives any and all rights under and the benefits of Section 1950.7 of the California Civil Code, and all other provisions of law
applicable to security deposits in the commercial context (as now existing or hereafter amended, “Security Deposit Laws”). 
 4.3
Letter of Credit. If Subtenant elects to provide such Security in the form of a Letter of Credit, the following terms shall apply: 

(a) Initial Letter of Credit. The Letter of Credit shall be an unconditional, irrevocable, transferable standby letter of credit (the
“Initial Letter of Credit”) in the form attached hereto as Exhibit D in the Security Amount, issued by Silicon Valley Bank (the “Issuing Bank”). Subtenant shall cause the Letter of Credit to be continuously
maintained in effect (whether through a Replacement Letter of Credit (defined below), amendment, renewal or extension) through the date (the “Final Letter of Credit Expiration Date”) that is the later to occur of (i) the
date that is forty-five (45) days after the scheduled Expiration Date of the Term, and (ii) the date that is forty-five (45) days after Subtenant vacates the Subleased Premises and completes any restoration or repair obligations. 

(b) Drawing Under Letter of Credit. In addition to the provisions of Section 4.1, Sublandlord may also draw upon the Initial
Letter of Credit or any Replacement Letter of Credit on or after the occurrence of: (i) any failure by Subtenant to deliver to Sublandlord a Replacement Letter of Credit as and when required pursuant to Section 4.3(c); (ii) an uncured
failure by Subtenant to perform one or more of its obligations under this Sublease and the existence of circumstances in which Sublandlord is enjoined or otherwise prevented by operation of law from giving to Subtenant a written notice which would
be necessary for such failure of performance to constitute an event of default, or (iii) the appointment of a receiver to take possession of all or substantially all of the assets of Subtenant, or an assignment of Subtenant for the benefit of
creditors, or any action taken or suffered by Subtenant under any insolvency, bankruptcy, reorganization or other debtor relief proceedings, whether now existing or hereafter amended or enacted; provided that in the event that Subtenant fails to pay
rent or other sums due hereunder, or otherwise defaults (beyond applicable notice and cure periods) with respect to any provisions of this Sublease, Sublandlord may, at Sublandlord’s sole option, draw upon a portion of the face amount of the
Initial Letter of Credit or any Replacement Letter of Credit, as applicable, as required to compensate Sublandlord for damages incurred (with subsequent demands as Sublandlord incurs further damage). 

  
 8 

 (c) Delivery of Replacement Letter of Credit. Subtenant shall deliver to Sublandlord a
new letter of credit (a “Replacement Letter of Credit”) (the Initial Letter of Credit and/or any Replacement Letter of Credit being referred to herein as a “Letter of Credit”) at least thirty (30) days
prior to the expiry date of the Initial Letter of Credit or of any Replacement Letter of Credit held by Sublandlord. Each Replacement Letter of Credit delivered by Subtenant to Sublandlord shall: (i) be issued by a banking institution
reasonably acceptable to Sublandlord; (ii) be in the same form as the letter of credit attached to this Sublease as Exhibit D; (iii) bear an expiry date not earlier than one (1) year from the date when such Replacement
Letter of Credit is delivered to Sublandlord; and (iv) be in an amount not less than the Security Amount. Upon the delivery to Sublandlord of a Replacement Letter of Credit as described in this Section 4.3(c), Sublandlord shall return to
Subtenant the Initial Letter of Credit or any previous Replacement Letter of Credit then held by Sublandlord. 
 (d) Sublandlord’s
Transfer. If Sublandlord conveys or transfers its interest in the Subleased Premises and, as a part of such conveyance or transfer, Sublandlord assigns its interest in this Sublease: (i) any Letter of Credit shall be transferred to
Sublandlord’s successor; (ii) Sublandlord shall be released and discharged from any further liability to Subtenant with respect to such Letter of Credit: and (iii) any Replacement Letter of Credit thereafter delivered by Subtenant
shall state the name of the successor to Sublandlord as the beneficiary of such Replacement Letter of Credit and shall contain such modifications in the text of the Replacement Letter of Credit as are required to appropriately reflect the transfer
of the interest of Sublandlord in the Premises. 
 (e) Additional Covenants of Subtenant. If, as result of any application or use by
Sublandlord of all or any part of the Letter of Credit, the amount of the Letter of Credit plus any cash proceeds previously drawn by Sublandlord and not applied pursuant to this Section 4 shall be less than the Security Amount. Subtenant
shall, within ten (10) days thereafter, provide Sublandlord with additional Letter(s) of Credit in an amount equal to the deficiency (or a replacement or amended Letter of Credit in the total Security Amount), and any such additional (or
replacement or amended) Letter of Credit shall comply with all of the provisions of Section 4(c); if Subtenant fails to timely comply with the foregoing, then notwithstanding anything to the contrary contained in this Sublease, the same shall
constitute a default by Subtenant without the necessity of additional notice or the passage of additional grace periods. Subtenant further covenants and warrants that it will neither assign nor encumber the Letter of Credit or any part thereof and
that neither Sublandlord nor its successors or assigns will be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance. 

(f) Nature of Letter of Credit. Sublandlord and Subtenant acknowledge and agree that in no event or circumstance shall the Letter of
Credit or any renewal thereof or substitute therefor or any proceeds thereof be deemed to be or treated as a “security deposit” under any Security Deposit Laws, and waive any and all rights, duties and obligations either party may have now
or in the future relating to or arising from the Security Deposit Laws. 
 5. Use and Occupancy. 

5.1 Use. The Subleased Premises shall be used and occupied only for those uses permitted under the Master Lease. 

  
 9 

 5.2 Compliance with Master Lease. 

(a) Subtenant. Subtenant will occupy the Subleased Premises in accordance with the terms of the Master Lease and will not suffer to be
done, or omit to do, any act which may result in a violation of or a default under the Master Lease, or render Sublandlord liable for any damage, charge or expense thereunder. Subtenant will indemnify, defend, protect and hold Sublandlord harmless
from and against any loss, cost, damage or liability (including reasonable attorneys’ fees) arising out of, by reason of, or resulting from, Subtenant’s failure to perform or observe any of the terms and conditions of the Master Lease or
this Sublease. Any other provision in this Sublease to the contrary notwithstanding. Subtenant shall pay to Sublandlord as Rent hereunder any and all sums which Sublandlord may be required to pay the Landlord arising out of a request by Subtenant
for, or the use by Subtenant of, additional or overstandard Building services from Landlord (for example, but not by way of limitation, charges associated with after-hour IIVAC usage and overstandard electrical charges). 

(b) Sublandlord. Sublandlord will continue to comply with the terms of the Master Lease that are not otherwise the responsibility of
Subtenant under the terms of this Sublease. Sublandlord will indemnify, defend, protect and hold Subtenant harmless from and against any loss, cost, damage or liability (including reasonable attorneys’ fees) arising out of, by reason of, or
resulting from, Sublandlord’s negligence or failure to perform or observe any of the terms and conditions of the Master Lease, except (i) to the extent that such occurrence is attributable, in whole or in part, to any negligent act or
omission /of Subtenant, its agents, employees or contractors or (ii) if such failure to perform by Sublandlord is a direct result of Subtenant’s failure to perform its obligations under this Sublease. 

5.3 Landlord’s Obligations. Subtenant agrees that Sublandlord shall not be required to perform any of the covenants, agreements
and/or obligations of Landlord under the Master Lease and, insofar as any of the covenants, agreements and obligations of Sublandlord hereunder are required to be performed under the Master Lease by Landlord thereunder, Subtenant acknowledges and
agrees that Sublandlord shall be entitled to look to Landlord for such performance. In addition, Sublandlord shall have no obligation to perform any repairs or any other obligation of Landlord under the Master Lease. Except resulting from
Sublandlord’s negligence or default of its obligations under this Sublease, Sublandlord shall not be responsible for any failure or interruption, for any reason whatsoever, of the services or facilities that may be appurtenant to or supplied at
the Building by Landlord or otherwise, including, without limitation, heat, air conditioning, ventilation, life-safety, water, electricity, elevator service and cleaning service, if any; and no failure to furnish, or interruption of, any such
services or facilities shall give rise to any (i) abatement, diminution or reduction of Subtenant’s obligations under this Sublease, or (ii) liability on the part of Sublandlord. Notwithstanding the foregoing, Sublandlord shall
promptly take such action as may reasonably be indicated, under the circumstances, to secure such performance upon Subtenant’s request to Sublandlord to do so and shall thereafter diligently prosecute such performance on the part of Landlord.

 6. Master Lease and Sublease Terms. 

6.1 Subject to Master Lease. This Sublease is and shall be at all times subject and subordinate to the Master Lease. Subtenant
acknowledges that Subtenant has reviewed and is familiar with all of the terms, agreements, covenants and conditions of the Master Lease. 

  
 10 

 
Additionally, Subtenant’s rights under this Sublease shall be subject to the terms of the Consent. During the Term and for all periods subsequent thereto with respect to obligations which
have arisen prior to the termination of this Sublease, Subtenant agrees to perform and comply with, for the benefit of Sublandlord and Landlord, the obligations of Sublandlord under the Master Lease which pertain to the Subleased Premises and/or
this Sublease, except for those provisions of the Master Lease which are expressly excluded pursuant to Section 6.4 below or otherwise contradicted by or inconsistent with this Sublease (collectively such provisions referred to herein as
“Excluded Provisions”), in which event the terms of this Sublease shall control over the Master Lease. 
 6.2
Incorporation of Terms of Master Lease. The terms, conditions and respective obligations of Sublandlord and Subtenant to each other under this Sublease shall be the terms and conditions of the Master Lease, except for the Excluded Provisions,
in which event the terms of this Sublease shall control over the Master Lease. Therefore, for the purposes of this Sublease, wherever in the Master Lease the word “Landlord” is used it shall be deemed to mean Sublandlord and wherever in
the Master Lease the word “Tenant” is used it shall be deemed to mean Subtenant, except with respect to the Excluded Provisions. Any non-liability, release, indemnity or hold harmless provision in the Master Lease for the benefit of
Landlord that is incorporated herein by reference, shall be deemed to inure to the benefit of Sublandlord, Landlord, and any other person intended to be benefited by said provision, for the purpose of incorporation by reference in this Sublease. Any
right of Landlord under the Master Lease (a) of access or inspection, (b) to do work in the Master Lease Premises or in the Building, (c) in respect of rules and regulations, which is incorporated herein by reference, shall be deemed
to inure to the benefit of Sublandlord, Landlord, and any other person intended to be benefited by said provision, for the purpose of incorporation by reference in this Sublease. 

6.3 Modifications. For the purposes of incorporation herein, the terms of the Master Lease are subject to the following additional
modifications: 
 (a) Approvals. In all provisions of the Master Lease (under the terms thereof and without regard to modifications
thereof for purposes of incorporation into this Sublease) requiring the approval or consent of Landlord, Subtenant shall be required to obtain the approval or consent of both Landlord and Sublandlord. 

(b) Deliveries. In all provisions of the Master Lease requiring Tenant to submit, exhibit to, supply or provide Landlord with evidence,
certificates, or any other matter or thing, Subtenant shall be required to submit, exhibit to, supply or provide, as the case may be, the same to both Landlord and Sublandlord. 

(c) Damage: Condemnation. Sublandlord shall have no obligation to restore or rebuild any portion of the Subleased Premises after any
destruction or taking by eminent domain. 
 (d) Insurance. In all provisions of the Master Lease requiring Tenant to designate
Landlord as an additional or named insured on its insurance policy, Subtenant shall be required to so designate Landlord and Sublandlord on its insurance policy. 

  
 11 

 6.4 Exclusions. Notwithstanding the terms of Section 6.2 above, Subtenant shall have
no rights nor obligations under the following parts, Sections and Exhibits of the Master Lease: Section 1, 3.C (the last sentence), 4.A, 4.B, 5, 6.A, 18, 19, 20, 21.C, 21.N, 21.T, 21.Y, Exhibits C, D, E, F, G and H. The foregoing list may not
be an all-inclusive or exhaustive list of Excluded Provisions, and to the extent that any provisions of the Master Lease not included in the foregoing list are by their own terms inconsistent with or contrary to the provisions of this Sublease, such
provisions shall be deemed to constitute Excluded Provisions. 
 6.5 Modifications. Notwithstanding the terms of Section 6.2
above, the following provisions of the Master Lease are modified as described below for the purpose of their incorporation into this Sublease: 

(a) Sections 8.A and 8.B. For purposes of Sections 8.A. and 8.B, the term “Landlord” shall continue to mean
“Landlord” (and not Sublandlord), and the term “Tenant” shall continue to mean Sublandlord in its capacity as “Tenant” (and not Subtenant). 

(b) Section 8.D. For purposes of Section 8.D, Sublandlord, in its capacity as “Tenant,” shall comply with all of
the obligations of “Tenant” thereunder, including with respect to capital repairs and improvements; provided, however, that Subtenant shall pay to Sublandlord the Subtenant’s Allocable Share of the net amount of any actual costs
incurred by Sublandlord thereunder after reimbursement is paid by Landlord to Sublandlord pursuant to such Section 8.D. 
 6.6 CASp
Inspection. As of the date of this Sublease, there has been no inspection on behalf of Sublandlord of the Subleased Premises by a Certified Access Specialist as referenced in Section 1938 of the California Civil Code. 

6.7 Energy Disclosure Requirements. Subtenant agrees to cooperate with Landlord and Sublandlord to comply with any and all guidelines
or controls concerning energy management and usage disclosure imposed upon Landlord and/or Sublandlord by federal or state governmental organizations or by any energy conservation association to which Landlord and/or Sublandlord is a party or which
is applicable to the Building, including, without limitation, the requirements of California’s Nonresidential Building Energy Use Disclosure Program, as more particularly specified in California Public Resources Code Sections 25402.10 et seq.
and regulations adopted pursuant thereto. Further, Subtenant hereby authorizes (and agrees that Landlord and Sublandlord shall have the authority to authorize) any electric or gas utility company providing service to the Building to disclose from
time to time so much of the data collected and maintained by it regarding Subtenant’s energy consumption data as may be necessary to cause the Building to participate in the ENERGY STAR®
Portfolio Manager system and similar programs; and Subtenant further authorizes Landlord and/or Sublandlord to disclose information concerning energy use by Subtenant as Landlord and/or Sublandlord determines to be necessary to comply with
applicable laws pertaining to the Building or the ownership or operation thereof. 
 6.8 Signage. Throughout the Term, Subtenant
shall have the right, at its sole cost and expense, and otherwise in accordance with applicable laws and the terms of the Master Lease, to install and maintain reasonable exterior building, monument (no less than 2/3 portion of such monument
signage) and directional signage within the project. In addition, subject to compliance with applicable laws and the terms of the Master Lease, the parties hereby expressly approve the signage set forth on the signage plan attached hereto as
Exhibit G 

  
 12 

 7. Assignment and Subletting. Subtenant shall not assign this Sublease or further sublet
all or any part of the Subleased Premises except subject to and in compliance with all of the terms and conditions of the Master Lease, and Sublandlord (in addition to Landlord) shall have the same rights with respect to assignment and subleasing as
Landlord has under the Master Lease. Subtenant shall pay all fees and costs payable to Landlord pursuant to the Master Lease in connection with any proposed assignment, sublease or transfer of the Subleased Premises, together with all of
Sublandlord’s reasonable out-of-pocket costs relating to Subtenant’s request for such consent, regardless of whether such consent is granted, and the effectiveness of any such consent shall be conditioned upon Landlord’s and
Sublandlord’s receipt of all such fees and costs. 
 8. Default. Except as expressly set forth herein with respect to the
Excluded Provisions or otherwise, Subtenant shall perform all obligations in respect of the Subleased Premises that Sublandlord would be required to perform pursuant to the Master Lease. It shall constitute an event of default hereunder if Subtenant
fails to perform any obligation hereunder (including, without limitation, the obligation to pay Rent), or any obligation under the Master Lease which has been incorporated herein by reference, and, in each instance, Subtenant has not remedied such
failure (i) in the case of any monetary default, five (5) calendar days after delivery of written notice and (ii) in the case of any other default, thirty (30) calendar days after delivery of written notice (provided, however, if
the nature of such default reasonably requires more than thirty (30) days to cure, then Subtenant shall not be in default if it commences such cure within such thirty (30) day period and thereafter prosecutes the same to completion). 

9. Remedies. In the event of any default (beyond applicable notice and cure periods) hereunder by Subtenant, Sublandlord shall have all
remedies provided to the “Landlord” in the Master Lease as if a default had occurred thereunder and all other rights and remedies otherwise available at law and in equity. Sublandlord may resort to its remedies cumulatively or in the
alternative. 
 10. Right to Cure Defaults. If Subtenant fails to perform any of its obligations under this Sublease after
expiration of applicable grace or cure periods, then Sublandlord may, but shall not be obligated to, perform any such obligations for Subtenant’s account. All costs and expenses incurred by Sublandlord in performing any such act for the account
of Subtenant shall be deemed Rent payable by Subtenant to Sublandlord upon demand, together with interest thereon at the lesser of (i) ten percent (10%) per annum or (ii) the maximum rate allowable under law from the date of the
expenditure until repaid. If Sublandlord undertakes to perform any of Subtenant’s obligations for the account of Subtenant pursuant hereto, the taking of such action shall not constitute a waiver of any of Sublandlord’s remedies. Subtenant
hereby expressly waives its rights under any statute to make repairs at the expense of Sublandlord. 
 11. Consents and Approvals. In
any instance when Sublandlord’s consent or approval is required under this Sublease. Sublandlord’s refusal to consent to or approve any matter or thing shall be deemed reasonable if, among other matters, such consent or approval is
required under the provisions of the Master Lease incorporated herein by reference but has not been obtained from Landlord; provided, however, if such consent by Landlord is required. 

  
 13 

 
Sublandlord shall use diligent efforts to obtain it. Except as otherwise provided herein. Sublandlord shall not unreasonably withhold, or delay its consent to or approval of a matter if such
consent or approval is required under the provisions of the Master Lease and Landlord has consented to or approved of such matter. 
 12.
Sublandlord’s and Subtenant’s Liability. 
 12.1 Limitation of Liability. Notwithstanding any other term or provision
of this Sublease, the liability of Sublandlord to Subtenant for any default in Sublandlord’s obligations under this Sublease shall be limited to actual, direct damages, and under no circumstances shall Subtenant, its partners, members,
shareholders, directors, agents, officers, employees, contractors, sublessees, successors and/or assigns be entitled to recover from Sublandlord (or otherwise be indemnified by Sublandlord) for (a) any losses, costs, claims, causes of action,
damages or other liability incurred in connection with a failure of Landlord, its partners, members, shareholders, directors, agents, officers, employees, contractors, successors and/or assigns to perform or cause to be performed Landlord’s
obligations under the Master Lease, except to the extent the same also constitutes a breach by Sublandlord under this Sublease, (b) lost revenues, lost profit or other consequential, special or punitive damages arising in connection with this
Sublease for any reason, or (c) any damages or other liability arising from or incurred in connection with the condition of the Subleased Premises or suitability of the Subleased Premises for Subtenant’s intended uses. Subtenant shall,
however, have the right to seek any injunctive or other equitable remedies as may be available to Subtenant under applicable law. Notwithstanding any other term or provision of this Sublease, no personal liability shall at any time be asserted or
enforceable against Sublandlord’s shareholders, directors, officers, or partners on account of any of Sublandlord’s obligations or actions under this Sublease. As used in this Sublease, the term “Sublandlord” means the holder of
the tenant’s interest under the Master Lease and “Sublandlord” means the holder of sublandlord’s interest under this Sublease. In the event of any assignment or transfer of the Sublandlord’s interest under this Sublease,
which assignment or transfer may occur at any time during the Term in Sublandlord’s sole discretion, Sublandlord shall be and hereby is entirely relieved of all covenants and obligations of Sublandlord hereunder accruing subsequent to the date
of the transfer and it shall be deemed and construed, without further agreement between the parties hereto, that any transferee has assumed and shall carry out all covenants and obligations thereafter to be performed by Sublandlord hereunder.
Sublandlord may transfer and deliver the then existing Letter of Credit to the transferee of Sublandlord’s interest under this Sublease, and thereupon Sublandlord shall be discharged from any further liability with respect thereto. In addition.
Sublandlord shall comply with all of its obligations as “Tenant” under the Master Lease except to the extent that any such obligation is the obligation of Subtenant pursuant to the terms of this Sublease. Notwithstanding any other term or
provision of this Sublease, the liability of Subtenant to Sublandlord for any default in Subtenant’s obligations under this Sublease shall be limited to actual, direct damages, and under no circumstances shall Sublandlord, its partners,
members, shareholders, directors, agents, officers, employees, contractors, sublessees, successors and/or assigns be entitled to recover from Subtenant (or otherwise be indemnified by Subtenant) for lost revenues, lost profit or other consequential,
special or punitive damages arising in connection with this Sublease for any reason, except for any breach by Subtenant under Section 12 of the Master Lease. Notwithstanding any other term or provision of this Sublease, no personal liability
shall at any time be asserted or enforceable against Subtenant’s shareholders, directors, officers, or partners on account of any of Subtenant’s obligations or actions under this Sublease. 

  
 14 

 12.2 Sublandlord Default. Sublandlord shall be in default hereunder only if Sublandlord
has not commenced and pursued with reasonable diligence the cure of any failure of Sublandlord to meet its obligations hereunder within thirty (30) days after the receipt by Sublandlord of written notice from Subtenant of the alleged failure to
perform in strict accordance with Section 17. Failure to provide the requisite notice and cure period by Subtenant under this paragraph shall be an absolute defense by Sublandlord against any claims, counterclaims or defenses of Subtenant based
on the alleged failure by Sublandlord to perform any of its obligations. 
 13. Attorneys’ Fees. If Sublandlord or Subtenant
brings an action to enforce the terms hereof or to declare rights hereunder, the prevailing party who recovers substantially all of the damages, equitable relief or other remedy sought in any such action on trial and appeal shall be entitled to
receive from the other party its costs associated therewith, including, without limitation, reasonable attorney’s fees and costs from the other party. 

14. Delivery of Possession. 

14.1 Generally. Except with respect to the Sublandlord’s Work described in Exhibit H, Sublandlord shall deliver, and
Subtenant shall accept, possession of each Phase of the Subleased Premises in their “AS IS” condition as each such Phase of the Subleased Premises exists on the date hereof. Sublandlord shall have no obligation to furnish, render or supply
any tenant improvement work, labor, services, materials, furniture (other than the FF&E, as provided for in Section 18), fixtures, equipment, decorations or other items to make the Subleased Premises ready or suitable for Subtenant’s
occupancy. In making and executing this Sublease, Subtenant has relied solely on such investigations, examinations and inspections as Subtenant has chosen to make or has made and has not relied on any representation or warranty concerning the
Subleased Premises or the Building. Subtenant acknowledges that Sublandlord has afforded Subtenant the opportunity for full and complete investigations, examinations and inspections of the Subleased Premises and the common areas of the Building.
Subtenant acknowledges that it is not authorized to make or do any alterations or improvements in or to the Subleased Premises except as permitted by the provisions of this Sublease and the Master Lease. Upon termination of this Sublease, Subtenant
shall deliver the Subleased Premises to Sublandlord in reasonably good condition and repair, reasonable wear and tear excepted. 
 14.2
Compliance With Laws. Notwithstanding anything to the contrary set forth in Section 14.1 above, Sublandlord hereby represents and warrants to Subtenant that, as of the Early Access Date for each Phase, all improvements within such
Phase of the Subleased Premises comply with applicable laws, ordinances, rules, regulations, and building codes as applicable thereto, including, without limitation, the Americans With Disabilities Act (“ADA”). In the event that any
governmental authority requires any modification of the Subleased Premises in order to correct any laws, ordinances, rules, regulations, and building codes, Sublandlord shall perform, or cause to be performed, such modification at no cost or expense
to Subtenant (and such expense shall not be included in Additional Rent). In addition, during the Term, Sublandlord shall be responsible, at its sole cost and expense, for any alterations, modifications, repairs or upgrades to the Subleased Premises
required by any governmental 

  
 15 

 
authority pursuant to the ADA or any rules and regulations promulgated pursuant thereto; provided, however, if any such alterations, repairs or upgrades are required as a result of any
alterations performed by Subtenant or as a consequence of the manner of Subtenant’s use of the Subleased Premises, then Subtenant shall be responsible, at its sole cost, and expense, for any such alterations, repairs or upgrades within the
Subleased Premises. 
 14.3 Subtenant’s Improvements. 

(a) Generally. If Subtenant desires to construct improvements within the Subleased Premises (“Subtenant
Improvements”), all Subtenant Improvements shall be carried out in accordance with the applicable provisions of the Master Lease. Sublandlord will have the right to approve the plans and specifications for any proposed Subtenant
Improvements, as well as any contractors whom Subtenant proposes to retain to perform such work. Subtenant will submit all such information for Sublandlord’s review and written approval prior to commencement of any such work; Sublandlord will
similarly submit such plans to Landlord for review and approval. Promptly following the completion of any Subtenant Improvements or subsequent alterations or additions by or on behalf of Subtenant, Subtenant will deliver to Sublandlord a
reproducible copy of “as built’’ drawings of such work together with a CAD file of the “as-built” drawings in the then-current version of AutoCad. 

(b) Code-Required Work. If the performance of any Subtenant Improvements or other work by Subtenant within the Subleased Premises
“triggers” a requirement for code-related upgrades to or improvements of any portion of the Building. Subtenant shall be responsible for the cost of such code-required upgrade or improvements. 

15. Holding Over. If Subtenant fails to surrender the Subleased Premises at the expiration or earlier termination of this Sublease,
occupancy of the Subleased Premises after the termination or expiration shall be that of a tenancy at sufferance. Subtenant’s occupancy of the Subleased Premises during the holdover shall be subject to all the terms and provisions of this
Sublease and Subtenant shall pay an amount (on a per month basis without reduction for partial months during the holdover) equal to 150% of the sum of the Base Rent and Additional Rent due for the period immediately preceding the holdover. No
holdover by Subtenant or payment by Subtenant after the expiration or early termination of this Sublease shall be construed to extend the Term or prevent Sublandlord from immediate recovery of possession of the Subleased Premises by summary
proceedings or otherwise. In addition to the payment of the amounts provided above, if Sublandlord is unable to deliver possession of the Subleased Premises to Landlord as a result of Subtenant’s holdover, Subtenant shall be liable to
Sublandlord for all actual damages, including, without limitation, contractual or holdover damages that Sublandlord suffers from the holdover; Subtenant expressly acknowledges that such damages may include all of the holdover rent charged by
Landlord under the Master Lease as a result of Subtenant’s holdover, which Master Lease holdover rent may apply to the entire Master Lease Premises. 

16. Parking. During the Term, Subtenant shall be permitted, without charge, to use the Subtenant’s Allocable Share of the parking
spaces allocated to Sublandlord in the Master Lease. In addition, during the Term, Subtenant shall have the exclusive right, without charge, to those certain parking stalls designated on Exhibit I attached hereto for use by its employees,
visitors, agents, employees (“Exclusive Parking”). Subtenant shall have the right, at its sole cost and expense, to post “exclusive parking” signage designating such
Exclusive Parking, which signage shall be subject to Sublandlord’s consent, not to be unreasonably withheld, conditioned or delayed. 

  
 16 

 17. Notices: Any notice by either party to the other required, permitted or provided for
herein shall be valid only if in writing and shall be deemed to be duly given only if (a) delivered personally, or (b) sent by means of Federal Express. UPS Next Day Air or another reputable express mail delivery service guaranteeing next
day delivery, or (c) sent by United Slates certified mail, return receipt requested, addressed: 
 (i) if to Sublandlord, at the following addresses:

 Netflix, Inc. 

100 Winchester Circle 

Los Gatos, California 95032 

Attn: Chief Financial Officer 

with a copy to: 
 Netflix, Inc.

 100 Winchester Circle 

Los Gatos, California 95032 

Attn: General Counsel 
 and
(ii) if to Subtenant, at the following address: 
 Prior to the Commencement Date: 

ROKU, Inc. 

12980 Saratoga Avenue, Suite D 

Saratoga, California 95070 

Attn: General Counsel 

With a copy to: 

ROKU, Inc. 

12980 Saratoga Avenue, Suite D 

Saratoga, California 95070 

Attn: Director of Real Estate 

After the Commencement Date: 

ROKU, Inc. 

150 Winchester Circle 

Los Gatos, California 95032 

Attn: General Counsel 

With a copy to: 

ROKU, Inc. 

150 Winchester Circle 

Los Gatos, California 95032 

Attn: Director of Real Estate 

  
 17 

 or at such other address for either party as that party may designate by notice to the other. A notice shall be
deemed given and effective, if delivered personally, upon hand delivery thereof (unless such delivery takes place after hours or on a holiday or weekend, in which event the notice shall be deemed given on the next succeeding business day), if sent
via overnight courier, on the business day next succeeding delivery to the courier, and if mailed by United States certified mail, three (3) business days following such mailing in accordance with this Section. 

18. FF&E. During the Term, and in consideration of the FF&E Rent payable by Tenant pursuant to Section 3.2, Subtenant
shall be permitted to use the existing modular and office furniture, fixtures and equipment and associated data cabling described in more particular detail in Exhibit C attached hereto (such furniture, fixtures, and equipment together with
any equipment and data cabling, being referred to collectively as the “FF&E”). The FF&E is currently located in the Subleased Premises, and additional and replacement items of FF&E are located at a storage facility
operated by Vanguard Furniture (“Vanguard”) for Sublandlord (the “Storage Facility”). Subtenant shall accept the FF&E in its current condition without any warranty of fitness from Sublandlord (Subtenant
expressly acknowledges that no warranty is made by Sublandlord with respect to the condition of any cabling currently located in or serving the Subleased Premises). Sublandlord shall be responsible, at its sole cost and expense, for the operation
and maintenance of the Storage Facility; provided, however, that in the event that Sublandlord elects to discontinue its use of the Storage Facility, which Sublandlord may do at any time after April 1, 2016 (but not before then), Sublandlord
shall so notify Subtenant and, at Subtenant’s option. Subtenant may arrange with Vanguard to continue to utilize the Storage Facility at Subtenant’s cost. So long as FF&E is stored in the Storage Facility. Subtenant shall have access
to such FF&E, and may use, deposit, return, exchange and/or replace such FF&E, utilizing the online inventory control system operated by Vanguard, and Subtenant, at its sole cost and expense, shall work directly with Vanguard to coordinate
Vanguard’s delivery and restocking of FF&E to and from the Storage Facility and the Subleased Premises. Sublandlord shall not be required to maintain any specific inventory levels of FF&E. For purposes of documenting the current
condition of the FF&E in the Subleased Premises, Subtenant and Sublandlord shall, prior to the Commencement Date, conduct a joint walk-through of the Subleased Premises in order to inventory items of damage or disrepair. Subtenant shall use the
FF&E only for the purposes for which such FF&E is intended and shall be responsible for the proper maintenance, insurance, care and reasonable repair of the FF&E used by Subtenant at the Subleased Premises, at Subtenant’s sole cost
and expense, reasonable wear and tear excepted. Subtenant shall not materially modify, reconfigure or relocate any affixed cubicles located within the Subleased Premises (including, without limitation, changing the configuration of, “breaking
down” or reassembly of cubicles) without first obtaining Sublandlord’s consent, which consent may not be unreasonably withheld, conditioned or delayed (by way of example, the parties agree that it would be reasonable for Sublandlord to
withhold consent if the color palette of proposed additions or substitutions were not consistent with the existing FF&E (e.g., neutral colors would be acceptable), or if the number of cubicles were to be reduced (other than to an incidental
extent), or if substitutions proposed by Subtenant were not of a quality consistent with the existing FF&E, or if Subtenant proposed to install non-adjustable workstations); provided, however, that Subtenant shall not be required to secure
Sublandlord’s consent for cubicle reconfigurations of less than 15 cubicles, but in connection therewith. Subtenant must provide a plan for such reconfiguration to Sublandlord which will become the basis for delivery/restoration of the
Subleased Premises upon the expiration or earlier termination of this Sublease. Subtenant shall not be obligated to remove or restore any FF&E upon the expiration of the Term, unless required by Sublandlord in connection with any consent given
by Sublandlord if required hereunder. Sublandlord and Subtenant shall reasonably cooperate with each other regarding the use and storage of the FF&E. 

  
 18 

 19. Brokers. Subtenant represents that it has dealt directly with and only with CBRE, Inc.
(Mike Charters and Jeff Houston) (“Subtenant’s Broker”), as a broker in connection with this Sublease. Sublandlord represents that it has dealt directly with and only with CBRE, Inc. (Jeff Black)
(“Sublandlord’s Broker”), as a broker in connection with this Sublease. Sublandlord and Subtenant shall indemnify and hold each other harmless from all claims of any brokers other than Subtenant’s Broker and
Sublandlord’s Broker claiming to have represented Sublandlord or Subtenant in connection with this Sublease. Subtenant and Sublandlord agree that Subtenant’s Broker and Sublandlord’s Broker shall be paid commissions by Sublandlord in
connection with this Sublease pursuant to a separate agreement. 
 20. Complete Agreement. There are no representations, warranties,
agreements, arrangements or understandings, oral or written, between the parties or their representatives relating to the subject matter of this Sublease which are not fully expressed in this Sublease. This Sublease cannot be changed or terminated
nor may any of its provisions be waived orally or in any manner other than by a written agreement executed by both parties. 
 21.
Interpretation. This Sublease shall be governed by and construed in accordance with the laws of the State of California. If any provision of this Sublease or the application thereof to any person or circumstance shall, for any reason and to
any extent, be invalid or unenforceable, the remainder of this Sublease and the application of that provision to other persons or circumstances shall not be affected but rather shall be enforced to the extent permitted by law. The captions, headings
and titles in this Sublease are solely for convenience of reference and shall not affect its interpretation. This Sublease shall be construed without regard to any presumption or other rule requiring construction against the party causing this
Sublease or any part thereof to be drafted. If any words or phrases in this Sublease shall have been stricken out or otherwise eliminated, whether or not any other words or phrases have been added, this Sublease shall be construed as if the words or
phrases so stricken out or otherwise eliminated were never included in this Sublease and no implication or inference shall be drawn from the fact that said words or phrases were so stricken out or otherwise eliminated. Each covenant, agreement,
obligation or other provision of this Sublease shall be deemed and construed as a separate and independent covenant of the party bound by, undertaking or making same, not dependent on any other provision of this Sublease unless otherwise expressly
provided. All terms and words used in this Sublease, regardless of the number or gender in which they are used, shall be deemed to include any other number and any other gender as the context may require. The word “person” as used in this
Sublease shall mean a natural person or persons, a partnership, a corporation or any other form of business or legal association or entity. 

22. USA Patriot Act Disclosures. Subtenant is currently in compliance with and shall at all times during the Term remain in compliance
with the regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked Persons List) and any statute, executive order (including
the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action relating thereto. 

  
 19 

 23. Counterparts. This Sublease may be executed in multiple counterparts, each of which is
deemed an original but which together constitute one and the same instrument. This Sublease shall be fully executed when each party whose signature is required has signed and delivered to each of the parties at least one counterpart, even though no
single counterpart contains the signatures of all of the parties hereto. This Sublease may be executed in so-called “pdf” format and each party has the right to rely upon a pdf counterpart of this Sublease signed by the other party to the
same extent as if such party had received an original counterpart. 
 IN WITNESS WHEREOF, the parties have executed this Sublease as of the
date first above written. 
  

							
	 SUBLANDLORD:
	 		 	NETFLIX, INC.,
		 		 	a Delaware corporation
				
		 		 	By:	 	 /s/ Amy Dee

		 		 		 	Print Name: Amy Dee
		 		 		 	Title: Director of procurement and facilities
			
	 SUBTENANT:
	 		 	ROKU, INC.,
		 		 	a Delaware corporation
				
		 		 	By:	 	 /s/ Stephen H. Kay

		 		 		 	Print Name: Stephen H. Kay
		 		 		 	Title: SVP & General Counsel

  
 20 

 EXHIBIT A 

Subleased Premises 

 

 

 

 

  
 

 

 EXHIBIT B 

Commencement Agreement 

Date                       
                  
 Subtenant
                                        

 Address
                                         
    
  

	Re:	Commencement Letter with respect to that certain Sublease dated as of                  ,         ,
by and between NETFLIX, INC., a Delaware corporation, as Sublandlord, and ROKU, Inc., a Delaware corporation, as Subtenant, for [Phase 1/Phase2] consisting of          rentable square feet
on the          floor[s] of the Building located at 150 Winchester Circle, Los Gatos, California. 

Dear
                            : 

In accordance with the terms and conditions of the above referenced Sublease, Subtenant accepts possession of [Phase 1 /Phase 2] of the
Subleased Premises and agrees: 
 1. The Commencement Date for Phase 1/Phase
2]is:                 
 2. The Expiration Date of the
Sublease is:     December 31, 2020. 
 3. The rentable square footage of [Phase 1/Phase 2] is:
    rentable square feet [and the rentable square footage of the entirety of the Subleased Premises is:                 ]. 

4. The Monthly Base Rent owing under the Sublease for [Phase 1] or [for Phase 1 and Phase 2 from and after the Phase 2 Commencement Date for
the balance of the Term of the Sublease] is as follows: 
 5. Tenant’s Allocable Share [for Phase 1
is:                    %] or [for the entirety of the Subleased Premises is: 100%]. 

Please acknowledge your acceptance of possession and agreement to the terms set forth above by signing all 3 counterparts of this Commencement
Letter in the space provided and returning 2 fully executed counterparts to my attention. 
 Sincerely, 

 

			
	  

	Sublandlord Authorized Signatory

  

							
	Agreed and Accepted:	  	
	        Subtenant:	  	  
	  		  	
	        By:	  	[EXHIBIT — DO NOT SIGN]	  		  	
	        Name:	  	  
	  		  	
	        Title:	  	  
	  		  	
	        Date:	  	  
	  		  	

 EXHIBIT C 

FF&E 
 PHASE 1: 

PHASE 2: 

 EXHIBIT C 

FF&E 
 150
Winchester Circle 
 Phase 1 
  

					
	1st floor	  		  	1st floor Balcony
			
	Workstations: 153	  		  	Couch: 1
	Conference Tables: 13	  		  	Chairs: 2
	Conference Chairs: 96	  		  	Coffee Table: 1
	Soft Seating: 36	  		  	
	Kitchen seating: 74	  		  	
			
	2nd floor	  		  	2nd floor Balcony
	Workstations: 178	  		  	Tables: 11
	Conference Tables: 10	  		  	Chairs: 38
	Conference Chairs: 100	  		  	
	Soft Seating: 25	  		  	
	Kitchen seating: none	  		  	
	Phase 2
			
	3rd floor	  		  	3rd floor Balcony
	Workstations: 184	  		  	Couch: 4
	Conference Tables: 8	  		  	Tables; 6
	Conference Chairs: 62	  		  	Side Tables: 2
	Smaller tables: 2	  		  	Coffee Table: 1
	Soft Seating: 16	  		  	Chairs: 24
	Kitchen seating: none	  		  	Wicker Chairs: 8
		  		  	Soft Seating: 4

 

 

 

 

 

 

 EXHIBIT D 

L/C DRAFT LANGUAGE 
 IRREVOCABLE STANDBY
LETTER OF CREDIT NUMBER                      

ISSUE DATE:                  

ISSUING BANK: 
 SILICON VALLEY BANK 

3003 TASMAN DRIVE 
 2ND FLOOR, MAIL SORT HF210 

SANTA CLARA, CALIFORNIA 95054 
 BENEFICIARY: 

NETFLIX, INC. 
 100 WINCHESTER CIRCLE 

LOS GATOS, CA 95032 
 ATTN: CHIEF FINANCIAL OFFICER 

APPLICANT: 
 ROKU, INC. 

12980 SARATOGA AVENUE, SUITE D 
 SARATOGA. CA 95070 

EXPIRATION DATE:                 (ONE YEAR FROM ISSUANCE) 

LOCATION:                 SANTA CLARA, CALIFORNIA 

DEAR SIR/MADAM: 
 WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY
LETTER OF CREDIT NO. SVBSF              IN YOUR FAVOR AVAILABLE BY YOUR DRAFTS DRAWN ON US AT SIGHT IN THE FORM OF EXHIBIT “A” ATTACHED AND ACCOMPANIED BY THE FOLLOWING
DOCUMENTS: 
  

	1.	THE ORIGINAL OF THIS LETTER OF CREDIT AND ALL AMENDMENT(S), IF ANY. 

	2.	BENEFICIARY’S DATED STATEMENT SIGNED BY AN AUTHORIZED SIGNATORY STATING THAT BENEFICIARY IS ENTITLED TO DRAW ON THIS LETTER OF CREDIT PURSUANT TO THE SUBLEASE BETWEEN ROKU, INC. AND NETFLIX, INC., AS IT MAY BE
AMENDED. 

 THIS LETTER OF CREDIT CANNOT BE MODIFIED OR REVOKED WITHOUT THE WRITTEN CONSENT OF BENEFICIARY. 

PARTIAL DRAWS AND MULTIPLE PRESENTATIONS ARE ALLOWED. 
 THIS
ORIGINAL LETTER OF CREDIT MUST ACCOMPANY ANY DRAWINGS HEREUNDER FOR ENDORSEMENT OF THE DRAWING AMOUNT AND WILL BE RETURNED TO THE BENEFICIARY UNLESS IT IS FULLY UTILIZED. 

  
 ALL THE DETAILS SET FORTH HEREIN IN THIS
LETTER OF CREDIT DRAFT IS APPROVED BY APPLICANT IF THERE IS ANY DISCREPANCY BETWEEN THE DETAILS OF THIS LETTER OF CREDIT DRAFT AND THE LETTER OF CREDIT APPLICATION BETWEEN APPLICANT AND SILICON VALLEY BANK. THE DETAILS HEREOF SHALL PREVAIL 

 

									
		 	  
 APPLICANT’S
SIGNATURE(s)
	  		  	  
 DATE
	  	

 PAGE 1 

 THIS LETTER OF CREDIT SHALL BE AUTOMATICALLY EXTENDED FOR AN ADDITIONAL PERIOD OF ONE YEAR, WITHOUT AMENDMENT.
FROM THE PRESENT OR EACH FUTURE EXPIRATION DATE UNLESS AT LEAST 60 DAYS PRIOR TO THE THEN CURRENT EXPIRATION DATE WE SEND YOU A NOTICE BY REGISTERED MAIL OR OVERNIGHT COURIER SERVICE AT THE ABOVE ADDRESS (OR ANY OTHER ADDRESS INDICATED BY YOU. IN A
WRITTEN NOTICE TO US THE RECIEPT OF WHICH WE HAVE ACKNOWLEDGED, AS THE ADDRESS TO WHICH WE SHOULD SEND SUCH NOTICE) THAT THIS LETTER OF CREDIT WILL NOT BE EXTENDED BEYOND THE CURRENT EXPIRATION DATE, IN NO EVENT SHALL THIS LETTER OF CREDIT BE
AUTOMATICALLY EXTENDED BEYOND                 . IN THE EVENT OF SUCH NOTICE OF NON-EXTENSION, YOU MAY DRAW HEREUNDER WITH A DRAFT STATED ABOVE AND ACCOMPANIED BY
THIS ORIGINAL LETTER OF CREDIT AND AMENDMENT(S), IF ANY, ALONG WITH YOUR DATED STATEMENT SIGNED BY AN AUTHORIZED SIGNATORY OF BENEFICIARY STATING THAT BENEFICIARY HAS NOT BEEN PRESENTED WITH A SUBSTITUTE LETTER OF CREDIT IN THE SAME PRINCIPAL
AMOUNT, AND ON THE SAME TERMS AS THIS LETTER OF CREDIT FROM AN ISSUER REASONABLY SATISFACTORY TO YOU. 
 THIS LETTER OF CREDIT IS TRANSFERABLE ONE OR MORE
TIMES, BUT IN EACH INSTANCE ONLY TO A SINGLE BENEFICIARY AS TRANSFEREE AND ONLY UP TO THE THEN AVAILABLE AMOUNT, ASSUMING SUCH TRANSFER TO SUCH TRANSFEREE WOULD BE IN COMPLIANCE WITH THEN APPLICABLE LAW AND REGULATION. INCLUDING BUT NOT LIMITED TO
THE REGULATIONS OF THE U. S. DEPARTMENT OF TREASURY AND U. S. DEPARTMENT OF COMMERCE. AT THE TIME OF TRANSFER, THE ORIGINAL LETTER OF CREDIT AND ORIGINAL AMENDMENT(S), IF ANY, MUST BE SURRENDERED TO US AT OUR ADDRESS INDICATED IN THIS LETTER OF
CREDIT TOGETHER WITH OUR TRANSFER FORM ATTACHED HERETO AS EXHIBIT “B” DULY EXECUTED [NOTE: EXHIBIT B NEEDS TO BE ATTACHED]. THE CORRECTNESS OF THE SIGNATURE AND TITLE OF THE PERSON SIGNING THE TRANSFER FORM MUST BE VERIFIED BY
BENEFICIARY’S BANK. ANY TRANSFER OF THIS LETTER OF CREDIT MAY NOT CHANGE THE PLACE OR DATE OF EXPIRATION OF THE LETTER OF CREDIT FROM OUR ABOVE SPECIFIED OFFICE. EACH TRANSFER SHALL BE EVIDENCED BY OUR ENDORSEMENT ON THE REVERSE OF THE LETTER
OF CREDIT AND WE SHALL FORWARD THE ORIGINAL OF THE LETTER OF CREDIT SO ENDORSED TO THE TRANSFEREE. 
 DRAFT(S) AND DOCUMENTS MUST INDICATE THE NUMBER AND
DATE OF THIS LETTER OF CREDIT. 
 ALL DEMANDS FOR PAYMENT SHALL BE MADE BY PRESENTATION OF THE ORIGINAL APPROPRIATE DOCUMENTS ON A BUSINESS DAY AT OUR
OFFICE (THE “BANK’S OFFICE”) AT: SILICON VALLEY BANK, 3003 TASMAN DRIVE. SANTA CLARA. CA 95054, ATTENTION: STANDBY LETTER OF CREDIT NEGOTIATION SECTION. 

WE HEREBY AGREE WITH THE BENEFICIARY THAT DRAFTS DRAWN UNDER AND IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER OF CREDIT WILL BE DULY HONORED
UPON PRESENTATION TO US ON OR BEFORE THE EXPIRATION DATE OF THIS LETTER OF CREDIT OR ANY AUTOMATICALLY EXTENDED EXPIRATION DATE. 
 IF ANY INSTRUCTIONS
ACCOMPANYING A DRAWING UNDER THIS LETTER OF CREDIT REQUEST THAT PAYMENT IS TO BE MADE BY TRANSFER TO YOUR ACCOUNT WITH ANOTHER BANK, WE WILL ONLY EFFECT SUCH PAYMENT BY FED WIRE TO A U.S. REGULATED BANK. AND WE AND/OR SUCH OTHER BANK MAY RELY ON AN
ACCOUNT NUMBER SPECIFIED IN SUCH INSTRUCTIONS EVEN IF THE NUMBER IDENTIFIES A PERSON OR ENTITY DIFFERENT FROM THE INTENDED PAYEE. 

  
 ALL THE DETAILS SET FORTH HEREIN IN THIS
LETTER OF CREDIT DRAFT IS APPROVED BY APPLICANT IF THERE IS ANY DISCREPANCY BETWEEN THE DETAILS OF THIS LETTER OF CREDIT DRAFT AND THE LETTER OF CREDIT APPLICATION BETWEEN APPLICANT AND SILICON VALLEY BANK. THE DETAILS HEREOF SHALL PREVAIL 

 

									
		 	  
 APPLICANT’S
SIGNATURE(s)
	  		  	  
 DATE
	  	

 PAGE 2 

 THIS LETTER OF CREDIT IS SUBJECT TO THE INTERNATIONAL STANDBY PRACTICES (ISP98). INTERNATIONAL CHAMBER OF
COMMERCE, PUBLICATION NO. 590. 
  

					
	  
	  		  	  

	AUTHORIZED SIGNATURE	  		  	AUTHORIZED SIGNATURE

  
 ALL THE DETAILS SET FORTH HEREIN IN THIS
LETTER OF CREDIT DRAFT IS APPROVED BY APPLICANT IF THERE IS ANY DISCREPANCY BETWEEN THE DETAILS OF THIS LETTER OF CREDIT DRAFT AND THE LETTER OF CREDIT APPLICATION BETWEEN APPLICANT AND SILICON VALLEY BANK. THE DETAILS HEREOF SHALL PREVAIL 

 

									
		 	  
 APPLICANT’S
SIGNATURE(s)
	  		  	  
 DATE
	  	

 PAGE 3 

 EXHIBIT A 
  

			
	DATE:                     	  	REF. NO.                             
		
	AT SIGHT OF THIS DRAFT	  	
	
	PAY TO THE ORDER OF
                                         
                                         
   US$
                                         
               
	
	US DOLLARS
                                         
                                         
                  
	
	 DRAWN UNDER SILICON VALLEY BANK, SANTA CLARA, CALIFORNIA, STANDBY

LETTER OF CREDIT NUMBER NO.
                                 DATED
                    

  

					
	 TO:  SILICON VALLEY BANK
	  		  	
	 3003 TASMAN DRIVE
	  		  	
	 SANTA CLARA, CA 95054
	  	  
 (BENEFICIARY’S NAME)
	  	
		  		  	
		  	  
 Authorized
Signature
	  	

 GUIDELINES TO PREPARE THE DRAFT 

 

	1.	DATE: ISSUANCE DATE OF DRAFT. 

  

	2.	REF. NO.: BENEFICIARY’S REFERENCE NUMBER, IF ANY. 

  

	3.	PAY TO THE ORDER OF: NAME OF BENEFICIARY AS INDICATED IN THE L/C (MAKE SURE BENEFICIARY ENDORSES IT ON THE REVERSE SIDE). 

  

	4.	US$: AMOUNT OF DRAWING IN FIGURES 

  

	5.	USDOLLARS: AMOUNT OF DRAWING IN WORDS. 

  

	6.	LETTER OF CREDIT NUMBER: SILICON VALLEY BANK’S STANDBY L/C NUMBER THAT PERTAINS TO THE DRAWING. 

  

	7.	DATED: ISSUANCE DATE OF THE STANDBY L/C. 

  

	8.	BENEFICIARY’S NAME: NAME OF BENEFICIARY AS INDICATED IN THE L/C. 

  

	9.	AUTHORIZED SIGNATURE: SIGNED BY AN AUTHORIZED SIGNER OF BENEFICIARY 

 IF YOU HAVE QUESTIONS RELATED TO THIS
STANDBY LETTER OF CREDIT PLEASE CONTACT US AT                       . 

IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER
                                         
                                         
           

  
 ALL THE DETAILS SET FORTH HEREIN IN THIS
LETTER OF CREDIT DRAFT IS APPROVED BY APPLICANT IF THERE IS ANY DISCREPANCY BETWEEN THE DETAILS OF THIS LETTER OF CREDIT DRAFT AND THE LETTER OF CREDIT APPLICATION BETWEEN APPLICANT AND SILICON VALLEY BANK. THE DETAILS HEREOF SHALL PREVAIL 

 

									
		 	  
 APPLICANT’S
SIGNATURE(s)
	  		  	  
 DATE
	  	

 PAGE 4 

 EXHIBIT E 

150 WINCHESTER CIRCLE 

Entry Control System 
  

	 	•	 	Camera System:        Exacq Vision 

 The network video
recorder will be turned over to Roku with full administrative rights and on its own network. Netflix will be fully disconnected from this machine. Cameras in common areas will be shared with video splitters, not software. Adjustments can be made to
accommodate proper camera description. 
  

	 	•	 	Access System:         Amag Symmetry access control server 

                        
          Amag MN-cab4+psu access panels 
 Amag Symmetry client will be used to control
only Roku’s occupied spaces and floors. 
 The Access System shall be virtually demised such that Netflix and Roku shall each have
separate access to the Amag access system allowing each to access only its respective designated access control hardware, card readers, alarm points and audible sounders. 

To the extent necessary, Netflix shall install additional access control hardware, card readers, alarm points and audible sounders on each
floor and at entry points to the Subleased Premises. 

 EXHIBIT F 

Depiction of MPOE and IDF Rooms 

 

 

 EXHIBIT G  

Signage Plan 

 

 

 EXHIBIT H 

Sublandlord’s Work 
  

	1.	Installation of the Entry Control System; and 

  

	2.	Demising Subleased Premises which shall consist of lawfully shutting fire doors and installing readers in all necessary new locations. 

 EXHIBIT I 

Depiction of Exclusive Parking AreasEX-4.2

 Exhibit 4.2 
  

 
 MEDPACE HOLDINGS, INC. 

 
  

INDENTURE 
 Dated as
of                 , 20 
  

 
 WELLS FARGO
BANK, NATIONAL ASSOCIATION 
 Trustee 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	 
			
	 Section 1.1.
	  	Definitions	  	 	1	 
	 Section 1.2.
	  	Other Definitions	  	 	4	 
	 Section 1.3.
	  	Incorporation by Reference of Trust Indenture Act	  	 	4	 
	 Section 1.4.
	  	Rules of Construction	  	 	5	 
		
	 ARTICLE II. THE SECURITIES
	  	 	5	 
			
	 Section 2.1.
	  	Issuable in Series	  	 	5	 
	 Section 2.2.
	  	Establishment of Terms of Series of Securities	  	 	6	 
	 Section 2.3.
	  	Execution and Authentication	  	 	8	 
	 Section 2.4.
	  	Registrar and Paying Agent	  	 	9	 
	 Section 2.5.
	  	Paying Agent to Hold Money in Trust	  	 	9	 
	 Section 2.6.
	  	Securityholder Lists	  	 	10	 
	 Section 2.7.
	  	Transfer and Exchange	  	 	10	 
	 Section 2.8.
	  	Mutilated, Destroyed, Lost and Stolen Securities	  	 	11	 
	 Section 2.9.
	  	Outstanding Securities	  	 	12	 
	 Section 2.10.
	  	Treasury Securities	  	 	12	 
	 Section 2.11.
	  	Temporary Securities	  	 	12	 
	 Section 2.12.
	  	Cancellation	  	 	13	 
	 Section 2.13.
	  	Defaulted Interest	  	 	13	 
	 Section 2.14.
	  	Global Securities	  	 	13	 
	 Section 2.15.
	  	CUSIP Numbers	  	 	15	 
		
	 ARTICLE III. REDEMPTION
	  	 	15	 
			
	 Section 3.1.
	  	Notice to Trustee	  	 	15	 
	 Section 3.2.
	  	Selection of Securities to be Redeemed	  	 	15	 
	 Section 3.3.
	  	Notice of Redemption	  	 	16	 
	 Section 3.4.
	  	Effect of Notice of Redemption	  	 	17	 
	 Section 3.5.
	  	Deposit of Redemption Price	  	 	17	 
	 Section 3.6.
	  	Securities Redeemed in Part	  	 	17	 
		
	 ARTICLE IV. COVENANTS
	  	 	17	 
			
	 Section 4.1.
	  	Payment of Principal and Interest	  	 	17	 
	 Section 4.2.
	  	SEC Reports	  	 	17	 
	 Section 4.3.
	  	Compliance Certificate	  	 	18	 
	 Section 4.4.
	  	Stay, Extension and Usury Laws	  	 	18	 
		
	 ARTICLE V. SUCCESSORS
	  	 	18	 
			
	 Section 5.1.
	  	When Company May Merge, Etc.	  	 	18	 
	 Section 5.2.
	  	Successor Corporation Substituted	  	 	19	 
		
	 ARTICLE VI. DEFAULTS AND REMEDIES
	  	 	19	 
			
	 Section 6.1.
	  	Events of Default	  	 	19	 

  
 i 

					
	 Section 6.2.
	  	Acceleration of Maturity; Rescission and Annulment	  	20
	 Section 6.3.
	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	21
	 Section 6.4.
	  	Trustee May File Proofs of Claim	  	22
	 Section 6.5.
	  	Trustee May Enforce Claims Without Possession of Securities	  	22
	 Section 6.6.
	  	Application of Money Collected	  	23
	 Section 6.7.
	  	Limitation on Suits	  	23
	 Section 6.8.
	  	Unconditional Right of Holders to Receive Principal and Interest	  	24
	 Section 6.9.
	  	Restoration of Rights and Remedies	  	24
	 Section 6.10.
	  	Rights and Remedies Cumulative	  	24
	 Section 6.11.
	  	Delay or Omission Not Waiver	  	24
	 Section 6.12.
	  	Control by Holders	  	25
	 Section 6.13.
	  	Waiver of Past Defaults	  	25
	 Section 6.14.
	  	Undertaking for Costs	  	25
		
	ARTICLE VII. TRUSTEE	  	26
			
	 Section 7.1.
	  	Duties of Trustee	  	26
	 Section 7.2.
	  	Rights of Trustee	  	27
	 Section 7.3.
	  	Individual Rights of Trustee	  	28
	 Section 7.4.
	  	Trustee’s Disclaimer	  	28
	 Section 7.5.
	  	Notice of Defaults	  	29
	 Section 7.6.
	  	Reports by Trustee to Holders	  	29
	 Section 7.7.
	  	Compensation and Indemnity	  	29
	 Section 7.8.
	  	Replacement of Trustee	  	30
	 Section 7.9.
	  	Successor Trustee by Merger, Etc.	  	31
	 Section 7.10.
	  	Eligibility; Disqualification	  	31
	 Section 7.11.
	  	Preferential Collection of Claims Against Company	  	31
		
	ARTICLE VIII. SATISFACTION AND DISCHARGE; DEFEASANCE	  	31
			
	 Section 8.1.
	  	Satisfaction and Discharge of Indenture	  	31
	 Section 8.2.
	  	Application of Trust Funds; Indemnification	  	32
	 Section 8.3.
	  	Legal Defeasance of Securities of any Series	  	33
	 Section 8.4.
	  	Covenant Defeasance	  	35
	 Section 8.5.
	  	Repayment to Company	  	36
	 Section 8.6.
	  	Reinstatement	  	36
		
	ARTICLE IX. AMENDMENTS AND WAIVERS	  	36
			
	 Section 9.1.
	  	Without Consent of Holders	  	36
	 Section 9.2.
	  	With Consent of Holders	  	37
	 Section 9.3.
	  	Limitations	  	38
	 Section 9.4.
	  	Compliance with Trust Indenture Act	  	38
	 Section 9.5.
	  	Revocation and Effect of Consents	  	38
	 Section 9.6.
	  	Notation on or Exchange of Securities	  	39
	 Section 9.7.
	  	Trustee Protected	  	39
		
	ARTICLE X. MISCELLANEOUS	  	39
			
	 Section 10.1.
	  	Trust Indenture Act Controls	  	39
	 Section 10.2.
	  	Notices	  	39

  
 ii 

					
	 Section 10.3.
	  	Communication by Holders with Other Holders	  	41
	 Section 10.4.
	  	Certificate and Opinion as to Conditions Precedent	  	41
	 Section 10.5.
	  	Statements Required in Certificate or Opinion	  	41
	 Section 10.6.
	  	Rules by Trustee and Agents	  	41
	 Section 10.7.
	  	Legal Holidays	  	42
	 Section 10.8.
	  	No Recourse Against Others	  	42
	 Section 10.9.
	  	Counterparts	  	42
	 Section 10.10.
	  	Governing Law; Waiver of Jury Trial; Consent to Jurisdiction	  	42
	 Section 10.11.
	  	No Adverse Interpretation of Other Agreements	  	43
	 Section 10.12.
	  	Successors	  	43
	 Section 10.13.
	  	Severability	  	43
	 Section 10.14.
	  	Table of Contents, Headings, Etc.	  	43
	 Section 10.15.
	  	Securities in a Foreign Currency	  	43
	 Section 10.16.
	  	Judgment Currency	  	44
	 Section 10.17.
	  	Force Majeure	  	44
	 Section 10.18.
	  	U.S.A. Patriot Act	  	44
		
	ARTICLE XI. SINKING FUNDS	  	45
			
	 Section 11.1.
	  	Applicability of Article	  	45
	 Section 11.2.
	  	Satisfaction of Sinking Fund Payments with Securities	  	45
	 Section 11.3.
	  	Redemption of Securities for Sinking Fund	  	46

  
 iii 

 MEDPACE HOLDINGS, INC. 

Reconciliation and tie between Trust Indenture Act of 1939 and 

Indenture, dated as of                 , 20 

 

					
	§ 310(a)(1)	  		  	7.10
	(a)(2)	  		  	7.10
	(a)(3)	  		  	Not Applicable
	(a)(4)	  		  	Not Applicable
	(a)(5)	  		  	7.10
	(b)	  		  	7.10
	§ 311(a)	  		  	7.11
	(b)	  		  	7.11
	(c)	  		  	Not Applicable
	§ 312(a)	  		  	2.6
	(b)	  		  	10.3
	(c)	  		  	10.3
	§ 313(a)	  		  	7.6
	(b)(1)	  		  	7.6
	(b)(2)	  		  	7.6
	(c)(1)	  		  	7.6
	(d)	  		  	7.6
	§ 314(a)	  		  	4.2, 10.5
	(b)	  		  	Not Applicable
	(c)(1)	  		  	10.4
	(c)(2)	  		  	10.4
	(c)(3)	  		  	Not Applicable
	(d)	  		  	Not Applicable
	(e)	  		  	10.5
	(f)	  		  	Not Applicable
	§ 315(a)	  		  	7.1
	(b)	  		  	7.5
	(c)	  		  	7.1
	(d)	  		  	7.1
	(e)	  		  	6.14
	§ 316(a)	  		  	2.10
	(a)(1)(A)	  		  	6.12
	(a)(1)(B)	  		  	6.13
	(b)	  		  	6.8
	§ 317(a)(1)	  		  	6.3
	(a)(2)	  		  	6.4
	(b)	  		  	2.5
	§ 318(a)	  		  	10.1

  
 Note: This
reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture. 

  
 iv 

 Indenture dated as of             ,
20         between Medpace Holdings, Inc., a company incorporated under the laws of Delaware (“Company”), and Wells Fargo Bank, National Association (“Trustee”).

 Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Securities
issued under this Indenture. 
 ARTICLE I. 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.1. Definitions. 

“Additional Amounts” means any additional amounts which are required hereby or by any Security, under circumstances specified
herein or therein, to be paid by the Company in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such Holders. 

“Affiliate” of any specified person means any other person directly or indirectly controlling or controlled by or under
common control with such specified person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any
person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities or by agreement or otherwise. 

“Agent” means any Registrar or Paying Agent. 

“Board of Directors” means the board of directors of the Company or any duly authorized committee thereof. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have
been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee. 

“Business Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York, New York (or in connection
with any payment, the place of payment) on which banking institutions are authorized or required by law, regulation or executive order to close. 

“Capital Stock” means any and all shares, interests, participations, rights or other equivalents (however designated) of
corporate stock. 
 “Company” means the party named as such above until a successor replaces it and thereafter means the
successor. 
 “Company Order” means a written order signed in the name of the Company by an Officer. 

 “Corporate Trust Office” means the office of the Trustee at the address set
forth in Section 10.2 at which at any particular time its corporate trust business related to this Indenture shall be principally administered. 

“Default” means any event which is, or after notice or passage of time or both would be, an Event of Default. 

“Depositary” means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of one or
more Global Securities, the person designated as Depositary for such Series by the Company, which Depositary shall be a clearing agency registered under the Exchange Act; and if at any time there is more than one such person, “Depositary”
as used with respect to the Securities of any Series shall mean the Depositary with respect to the Securities of such Series. 

“Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be due
and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2. 
 “Dollars” and
“$” means the currency of The United States of America. 
 “Exchange Act” means the Securities Exchange
Act of 1934, as amended. 
 “Foreign Currency” means any currency or currency unit issued by a government other than the
government of The United States of America. 
 “GAAP” means accounting principles generally accepted in the United States
of America set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect as of the date of determination. 

“Global Security” or “Global Securities” means a Security or Securities, as the case may be, in the form
established pursuant to Section 2.2 evidencing all or part of a Series of Securities, issued to the Depositary for such Series or its nominee, and registered in the name of such Depositary or nominee. 

“Holder” or “Securityholder” means a person in whose name a Security is registered. 

“Indenture” means this Indenture as amended or supplemented from time to time and shall include the form and terms of
particular Series of Securities established as contemplated hereunder. 
 “interest” with respect to any Discount Security
which by its terms bears interest only after Maturity, means interest payable after Maturity. 

  
 2 

 “Maturity,” when used with respect to any Security, means the date on which the
principal of such Security becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

“Officer” means the Chief Executive Officer, President, the Chief Financial Officer, the Treasurer or any Assistant
Treasurer, the Secretary or any Assistant Secretary, and any Vice President of the Company. 
 “Officer’s Certificate”
means a certificate signed by any Officer. 
 “Opinion of Counsel” means a written opinion of legal counsel. The counsel
may be an employee of or counsel to the Company. The opinion may contain customary limitations, conditions and exceptions. 

“person” means any individual, corporation, partnership, joint venture, association, limited liability company, joint-stock
company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “principal” of
a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in respect of, the Security. 

“Responsible Officer” means any officer of the Trustee in its Corporate Trust Office having responsibility for administration
of this Indenture and also means, with respect to a particular corporate trust matter hereunder, any other officer to whom such matter is referred because of his or her knowledge of and familiarity with a particular subject. 

“SEC” means the Securities and Exchange Commission. 

“Securities” means the debentures, notes or other debt instruments of the Company of any Series authenticated and delivered
under this Indenture. 
 “Series” or “Series of Securities” means each series of debentures, notes or
other debt instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof. 
 “Stated Maturity” when used with
respect to any Security, means the date specified in such Security as the fixed date on which the principal of such Security or interest is due and payable. 

“Subsidiary” of any specified person means any corporation, association or other business entity of which more than 50% of
the total voting power of shares of Capital Stock 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 such
person or one or more of the other Subsidiaries of that person or a combination thereof. 
 “TIA” means the Trust Indenture
Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as in effect on the date of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent
required by any such amendment, the Trust Indenture Act as so amended. 

  
 3 

 “Trustee” means the person named as the “Trustee” in the first
paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each person who is then a Trustee hereunder, and if at
any time there is more than one such person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series. 

“U.S. Government Obligations” means securities which are direct obligations of, or guaranteed by, The United States of
America for the payment of which its full faith and credit is pledged and which are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank or trust company as custodian with
respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a 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 depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by such depositary
receipt. 
 Section 1.2. Other Definitions. 
  

			
	 TERM
	  	DEFINED IN
SECTION
	“Bankruptcy Law”	  	6.1
	“Custodian”	  	6.1
	“Event of Default”	  	6.1
	“Judgment Currency”	  	10.16
	“Legal Holiday”	  	10.7
	“mandatory sinking fund payment”	  	11.1
	“New York Banking Day”	  	10.16
	“optional sinking fund payment”	  	11.1
	“Paying Agent”	  	2.4
	“Registrar”	  	2.4
	“Required Currency”	  	10.16
	“Specified Courts”	  	10.10
	“successor person”	  	5.1

 Section 1.3. Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The
following TIA terms used in this Indenture have the following meanings: 
 “Commission” means the SEC. 

“indenture securities” means the Securities. 

“indenture security holder” means a Securityholder. 

  
 4 

 “indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor” on the indenture securities means the Company and any successor obligor upon the Securities. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under
the TIA and not otherwise defined herein are used herein as so defined. 
 Section 1.4. Rules of Construction. 

Unless the context otherwise requires: 

(a) a term has the meaning assigned to it; 

(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(c) “or” is not exclusive; 

(d) words in the singular include the plural, and in the plural include the singular; and 

(e) provisions apply to successive events and transactions. 

ARTICLE II. 
 THE SECURITIES 

Section 2.1. Issuable in Series. 

The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be
issued in one or more Series. All Securities of a Series shall be identical except as may be set forth or determined in the manner provided in a Board Resolution, a supplemental indenture or an Officer’s Certificate detailing the adoption of
the terms thereof pursuant to authority granted under a Board Resolution. In the case of Securities of a Series to be issued from time to time, the Board Resolution, Officer’s Certificate or supplemental indenture detailing the adoption of the
terms thereof pursuant to authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined. Securities
may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture. 

  
 5 

 Section 2.2. Establishment of Terms of Series of Securities. 

At or prior to the issuance of any Securities within a Series, the following shall be established (as to the Series generally, in the case of
Subsection 2.2.1 and either as to such Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through 2.2.23) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board
Resolution, supplemental indenture hereto or Officer’s Certificate: 
 2.2.1. the title (which shall distinguish the Securities of
that particular Series from the Securities of any other Series) and ranking (including the terms of any subordination provisions) of the Series; 

2.2.2. the price or prices (expressed as a percentage of the principal amount thereof) at which the Securities of the Series will be
issued; 
 2.2.3. any limit upon the aggregate principal amount of the Securities of the 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 Section 2.7, 2.8, 2.11, 3.6 or 9.6); 

2.2.4. the date or dates on which the principal of the Securities of the Series is payable; 

2.2.5. the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates
(including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or
dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date; 

2.2.6. the place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the
Securities of such 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 such Series and this Indenture may be delivered, that physical Securities need
to be presented to the Paying Agent prior to final payment, and the method of such payment, if by wire transfer, mail or other means; 

2.2.7. if applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the
Securities of the Series may be redeemed, in whole or in part, at the option of the Company; 
 2.2.8. the obligation, if any, of the
Company to redeem or purchase the Securities of the Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions
upon which Securities of the Series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 

  
 6 

 2.2.9. the dates, if any, on which and the price or prices at which the Securities of the
Series will be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations; 

2.2.10. if other than denominations of $1,000 and any integral multiple thereof, the denominations in which the Securities of the Series
shall be issuable; 
 2.2.11. the forms of the Securities of the Series and whether the Securities will be issuable as Global
Securities; 
 2.2.12. if other than the principal amount thereof, the portion of the principal amount of the Securities of the Series
that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2; 
 2.2.13. the currency of
denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, and if such currency of denomination is a composite currency, the agency or organization, if any, responsible for overseeing such composite currency; 

2.2.14. the designation of the currency, currencies or currency units in which payment of the principal of and interest, if any, on the
Securities of the Series will be made; 
 2.2.15. if payments of principal of or interest, if any, on the Securities of the Series are
to be made in one or more currencies or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect to such payments will be determined; 

2.2.16. the manner in which the amounts of payment of principal of or interest, if any, on the Securities of the Series will be
determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index; 

2.2.17. the provisions, if any, relating to any security provided for the Securities of the Series; 

2.2.18. any addition to, deletion of or change in the Events of Default which applies to any Securities of the Series and any change in
the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.2; 

2.2.19. any addition to, deletion of or change in the covenants set forth in Articles IV or V which applies to Securities of the Series;

 2.2.20. any Depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to
Securities of such Series if other than those appointed herein; 

  
 7 

 2.2.21. the provisions, if any, relating to conversion or exchange of any Securities of such
Series, including if applicable, the conversion or exchange price, the conversion or exchange period, provisions as to whether conversion or exchange will be mandatory, at the option of the Holders thereof or at the option of the Company, the events
requiring an adjustment of the conversion price or exchange price and provisions affecting conversion or exchange if such Series of Securities are redeemed; 

2.2.22. any other terms of the Series (which may supplement, modify or delete any provision of this Indenture insofar as it applies to
such Series), including any terms that may be required under applicable law or regulations or advisable in connection with the marketing of Securities of that Series; and 

2.2.23. whether any of the Company’s direct or indirect Subsidiaries will guarantee the Securities of that Series, including the
terms of subordination, if any, of such guarantees. 
 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, supplemental indenture hereto or Officer’s Certificate referred to above. 

Section 2.3. Execution and Authentication. 

An Officer shall sign the Securities for the Company by manual or facsimile signature. 

If an Officer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall
nevertheless be valid. 
 A Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating
agent. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 
 The Trustee shall at any
time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or Officer’s Certificate, upon receipt by the Trustee of a Company Order. Each
Security shall be dated the date of its authentication. 
 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 the Board Resolution, supplemental indenture hereto or Officer’s Certificate delivered pursuant to Section 2.2, except as provided in
Section 2.8. 
 Prior to the issuance of Securities of any Series, the Trustee shall have received and (subject to Section 7.2)
shall be fully protected in relying on: (a) the Board Resolution, supplemental indenture hereto or Officer’s Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the
Securities of that Series or of Securities within that Series, (b) an Officer’s Certificate complying with Section 10.4, and (c) an Opinion of Counsel complying with Section 10.4, stating that such Securities, when
authenticated and delivered by the Trustee and issued by the Company in the manner specified in such Opinion of Counsel, will constitute legally valid and binding obligations of the Company, enforceable against the Company in accordance with their
terms. 

  
 8 

 The Trustee shall have the right to decline to authenticate and deliver any Securities of such
Series: (a) if the Trustee, being advised by counsel, determines that such action may not be taken lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust committee of directors
and/or vice-presidents or a committee of Responsible Officers shall determine that such action would expose the Trustee to personal liability to Holders of any then outstanding Series of Securities. 

The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate
Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate of
the Company. 
 Section 2.4. Registrar and Paying Agent. 

The Company shall maintain, with respect to each Series of Securities, at the place or places specified with respect to such Series pursuant
to Section 2.2, an office or agency where Securities of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities of such Series may be surrendered for registration of transfer or exchange
(“Registrar”). The Registrar shall keep a register with respect to each Series of Securities and to their transfer and exchange. The Company will give prompt written notice to the Trustee of the name and address, and any change in
the name or address, of each Registrar or Paying Agent. If at any time the Company shall fail to maintain any such required Registrar or Paying Agent or shall fail to furnish the Trustee with the name and address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands;. 

The Company may also from time to time designate one or more co-registrars, or additional paying agents 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 obligations to maintain a Registrar and Paying Agentin each place so specified pursuant to Section 2.2 for
Securities of any Series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name or address of any such co-registrar or additional paying agent. The term
“Registrar” includes any co-registrar; and the term “Paying Agent” includes any additional paying agent. The Company or any of its Affiliates may serve as Registrar or Paying Agent. 

The Company hereby appoints the Trustee the initial Registrar and Paying Agent for each Series unless another Registrar or Paying Agent, as
the case may be, is appointed prior to the time Securities of that Series are first issued. 
 Section 2.5. Paying Agent to
Hold Money in Trust. 
 The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent
will hold in trust, for the benefit of Securityholders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of 

  
 9 

 
or interest on the Series of Securities, and will notify the Trustee in writing of any default by the Company in making any such payment. While any such default continues, the Trustee may require
a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary
of the Company) shall have no further liability for the money. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of Securityholders of any Series of Securities
all money held by it as Paying Agent. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Securities. 

Section 2.6. Securityholder Lists. 

The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of
Securityholders of each Series of Securities and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least ten days before each interest payment date and at such other times
as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of Securityholders of each Series of Securities. 

Section 2.7. Transfer and Exchange. 

Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an
equal principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met (including the requirement that physical Securities be surrendered to the
Registrar if Securities are in certificated form). To permit registrations of transfers and exchanges, the Trustee shall authenticate Securities at the Registrar’s request. No service charge shall be made for any registration of transfer or
exchange (except as otherwise expressly permitted herein), but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar
governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6). 
 Neither the Company nor the Registrar shall be
required (a) to issue, register the transfer of, or exchange Securities of any Series for the period beginning at the opening of business fifteen days immediately preceding the sending of a notice of redemption of Securities of that Series
selected for redemption and ending at the close of business on the day such notice is sent, or (b) to register the transfer of or exchange Securities of any Series selected, called or being called for redemption as a whole or the portion being
redeemed of any such Securities selected, called or being called for redemption in part. Additionally, The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under
this Indenture or under applicable law with respect to any transfer of any interest in any Security other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when
expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

  
 10 

 The transferring Holder shall also provide or cause to be provided to the Trustee all information
reasonably necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under United States Internal Revenue Code Section 6045. The Trustee may rely on
the information provided to it and shall have no responsibility to verify or ensure the accuracy of such information. 

Section 2.8. Mutilated, Destroyed, Lost and Stolen Securities. 

If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange
therefor a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any
Security and (ii) such security or indemnity bond as may be required by each of them to hold itself and any of its agents harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide
purchaser, the Company shall execute and upon receipt of a Company Order the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same Series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security
has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 

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

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

  
 11 

 Section 2.9. Outstanding Securities. 

The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to
it for cancellation, those reductions in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding. 

If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the Trustee receives proof satisfactory to it that
the replaced Security is held by a bona fide purchaser. 
 If the Paying Agent (other than the Company, a Subsidiary of the Company or an
Affiliate of the Company) holds on the Maturity of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to
accrue. 
 The Company may purchase or otherwise acquire the Securities, whether by open market purchases, negotiated transactions or
otherwise. A Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security (but see Section 2.10 below). 

In determining whether the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such
determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.2. 

Section 2.10. Treasury Securities. 

In determining whether the Holders of the required principal amount of Securities of a Series have concurred in any request, demand,
authorization, direction, notice, consent or waiver, Securities of a Series owned by the Company or any Affiliate of the Company shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on
any such request, demand, authorization, direction, notice, consent or waiver only Securities of a Series that a Responsible Officer of the Trustee knows are so owned shall be so disregarded. 

Section 2.11. Temporary Securities. 

Until definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities upon a
Company Order. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the
Trustee upon receipt of a Company Order shall authenticate definitive Securities of the same Series and date of maturity in exchange for temporary Securities. Until so exchanged, temporary securities shall have the same rights under this Indenture
as the definitive Securities. 

  
 12 

 Section 2.12. Cancellation. 

The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee
any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee shall cancel all Securities surrendered for transfer, exchange, payment, replacement or cancellation and shall destroy such canceled Securities
(subject to the record retention requirement of the Exchange Act and the Trustee) and deliver a certificate of such cancellation to the Company upon written request of the Company. The Company may not issue new Securities to replace Securities that
it has paid or delivered to the Trustee for cancellation. 
 Section 2.13. Defaulted Interest. 

If the Company defaults in a payment of interest on a Series of Securities, it shall pay the defaulted interest, plus, to the extent permitted
by law, any interest payable on the defaulted interest, to the persons who are Securityholders of the Series on a subsequent special record date. The Company shall fix the record date and payment date. At least 10 days before the special record
date, the Company shall send to the Trustee and to each Securityholder of the Series a notice that states the special record date, the payment date and the amount of interest to be paid. The Company may pay defaulted interest in any other lawful
manner. 
 Section 2.14. Global Securities. 

2.14.1. Terms of Securities. A Board Resolution, a supplemental indenture hereto or an Officer’s Certificate shall establish
whether the Securities of a Series shall be issued in whole or in part in the form of one or more Global Securities and the Depositary for such Global Security or Securities. 

2.14.2. Transfer and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.7 of the Indenture and in
addition thereto, any Global Security shall be exchangeable pursuant to Section 2.7 of the Indenture for Securities registered in the names of Holders other than the Depositary for such Security or its nominee only if (i) such Depositary
notifies the Company that it is unwilling or unable to continue as Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to
appoint a successor Depositary registered as a clearing agency under the Exchange Act within 90 days of such event or (ii) the Company executes and delivers to the Trustee an Officer’s Certificate to the effect that such Global Security
shall be so exchangeable. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the Depositary shall direct in writing in an aggregate principal amount equal to
the principal amount of the Global Security with like tenor and terms. 
 Except as provided in this Section 2.14.2, a Global Security
may not be transferred except as a whole by the Depositary with respect to such Global Security to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary or any
such nominee to a successor Depositary or a nominee of such a successor Depositary. 

  
 13 

 In connection with any proposed transfer out of a Global Security, there shall be provided to the
Trustee all information reasonably necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The
Trustee may rely on the information provided to it and shall have no responsibility to verify or ensure the accuracy of such information. 

2.14.3. Legends. Any Global Security issued hereunder shall bear a legend in substantially the following form: 

“THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE
DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF
SUCH A SUCCESSOR DEPOSITARY.” 
 In addition, so long as the Depository Trust Company (“DTC”) is the Depositary, each Global
Note registered in the name of DTC or its nominee shall bear a legend in substantially the following form: 
 “UNLESS THIS GLOBAL NOTE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY GLOBAL NOTE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 

2.14.4. Acts of Holders. The Depositary, as a Holder, may appoint agents and otherwise authorize participants to give or take any
request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture. 

2.14.5. Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by
Section 2.2, payment of the principal of and interest, if any, on any Global Security shall be made to the Holder thereof. 

  
 14 

 2.14.6. Consents, Declaration and Directions. The Company, the Trustee and any Agent
shall treat a person as the Holder of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified in a written statement of the Depositary or by the applicable procedures of such Depositary
with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture. 

Section 2.15. CUSIP Numbers. 

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

ARTICLE III. 
 REDEMPTION 

Section 3.1. Notice to Trustee. 

The Company may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to
redeem and pay the Series of Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities. If a Series of Securities is redeemable and the Company wants or is obligated to
redeem prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee in writing of the redemption date and the principal amount of Series of Securities to be
redeemed. The Company shall give the notice at least 5 Business Days prior to the date that the redemption notice is sent to Holders, unless a shorter period is satisfactory to the Trustee. 

Section 3.2. Selection of Securities to be Redeemed. 

Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, if
less than all the Securities of a Series are to be redeemed, the Securities of the Series to be redeemed will be selected as follows: (a) if the Securities are in the form of Global Securities, in accordance with the procedures of the
Depositary, (b) if the Securities are listed on any national securities exchange, in compliance with the requirements of the principal national securities exchange, if any, on which the Securities are listed, or (c) if not otherwise
provided for under clause (a) or (b) in the manner that the Trustee deems fair and appropriate, including by lot or other method, unless otherwise required by law or applicable stock exchange requirements, subject, in the case of Global
Securities, to the applicable rules and procedures of the Depositary. The Securities to be redeemed shall be selected from Securities of the Series outstanding not previously called for redemption. Portions of the principal of Securities of the
Series that have denominations larger than $1,000 may be selected for redemption. Securities of the Series and portions of them it 

  
 15 

 
selected for redemption shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to Securities of any Series issuable in other denominations pursuant to Section 2.2.10,
the minimum principal denomination for each Series and the authorized integral multiples thereof. Provisions of this Indenture that apply to Securities of a Series called for redemption also apply to portions of Securities of that Series called for
redemption. 
 Section 3.3. Notice of Redemption. 

Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, at
least 15 days but not more than 60 days before a redemption date, the Company shall send or cause to be sent by first-class mail or electronically, in accordance with the procedures of the Depositary, a notice of redemption to each Holder whose
Securities are to be redeemed. 
 The notice shall identify the Securities of the Series to be redeemed and shall state: 

(a) the redemption date; 

(b) the redemption price; 

(c) the name and address of the Paying Agent; 

(d) if any Securities are being redeemed in part, the portion of the principal amount of such Securities to be redeemed
and that, after the redemption date and upon surrender of such Security, a new Security or Securities in principal amount equal to the unredeemed portion of the original Security shall be issued in the name of the Holder thereof upon cancellation of
the original Security (or through book-entry transfer); 
 (e) that Securities of the Series called for redemption must
be surrendered to the Paying Agent to collect the redemption price; 
 (f) that interest on Securities of the Series
called for redemption ceases to accrue on and after the redemption date unless the Company defaults in the deposit of the redemption price; 

(g) the CUSIP number, if any; and 

(h) any other information as may be required by the terms of the particular Series or the Securities of a Series being
redeemed. 
 At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at its expense,
provided, however, that the Company has delivered to the Trustee, at least 5 Business Days (unless a shorter time shall be acceptable to the Trustee) prior to the notice date, an Officer’s Certificate requesting that the Trustee give such
notice and setting forth the information to be stated in such notice. 

  
 16 

 Section 3.4. Effect of Notice of Redemption. 

Once notice of redemption is sent as provided in Section 3.3, Securities of a Series called for redemption become due and payable on the
redemption date and at the redemption price. Except as otherwise provided in the supplemental indenture, Board Resolution or Officer’s Certificate for a Series, a notice of redemption may not be conditional. Upon surrender to the Paying Agent,
such Securities shall be paid at the redemption price plus accrued interest to the redemption date. 
 Section 3.5. Deposit of
Redemption Price. 
 On or before 11:00 a.m., New York City time, on the redemption date, the Company shall deposit with the Paying Agent
money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date. 

Section 3.6. Securities Redeemed in Part. 

Upon surrender of a Security that is redeemed in part, the Trustee shall authenticate for the Holder a new Security of the same Series and the
same maturity equal in principal amount to the unredeemed portion of the Security surrendered (or through book-entry transfer). 
 ARTICLE
IV. 
 COVENANTS 

Section 4.1. Payment of Principal and Interest. 

The Company covenants and agrees for the benefit of the Holders of each Series of Securities that it will duly and punctually pay the principal
of and interest, if any, on the Securities of that Series in accordance with the terms of such Securities and this Indenture. On or before 11:00 a.m., New York City time, on the applicable payment date, the Company shall deposit with the Paying
Agent money sufficient to pay the principal of and interest, if any, on the Securities of each Series in accordance with the terms of such Securities and this Indenture. 

Section 4.2. SEC Reports. 

To the extent any Securities of a Series are outstanding, the Company shall deliver to the Trustee within 15 days after it files them with the
SEC 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 SEC may by rules and regulations prescribe) which the Company is required to file with the SEC pursuant
to Section 13 or 15(d) of the Exchange Act. The Company also shall comply with the other provisions of TIA § 314(a). Reports, information and documents filed with the SEC via the EDGAR system will be deemed to be delivered to the Trustee
as of the time of such filing via EDGAR for purposes of this Section 4.2. 
 Delivery of reports, information and documents to the
Trustee under this Section 4.2 are for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute constructive or actual notice of any information contained therein or determinable from information
contained therein, including the Company’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 

  
 17 

 Section 4.3. Compliance Certificate. 

To the extent any Securities of a Series are outstanding, the Company shall deliver to the Trustee, within 120 days after the end of each
fiscal year of the Company, an Officer’s Certificate signed by the Chief Executive Officer, Chief Financial Officer or principal accounting officer, stating that a review of the activities of the Company and its Subsidiaries during the
preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such
Officer signing such certificate, that to the best of his/her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the
terms, provisions and conditions hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which the Officer may have knowledge). 

Section 4.4. Stay, Extension and Usury Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture or the Securities; and the Company (to the
extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort to any such law, 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 has been enacted. 
 ARTICLE V. 

SUCCESSORS 

Section 5.1. When Company May Merge, Etc. 

The Company shall not consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its properties and
assets to, any person (a “successor person”) unless: 
 (a) the Company is the surviving corporation or the
successor person (if other than the Company) is a corporation organized and validly existing under the laws of any U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the Securities and under this Indenture; and 

(b) immediately after giving effect to the transaction, no Default or Event of Default, shall have occurred and be
continuing. 

  
 18 

 The Company shall deliver to the Trustee prior to the consummation of the proposed transaction an
Officer’s Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture comply with this Indenture. 

Notwithstanding the above, any Subsidiary of the Company may consolidate with, merge into or transfer all or part of its properties to the
Company. Neither an Officer’s Certificate nor an Opinion of Counsel shall be required to be delivered in connection therewith. 

Section 5.2. Successor Corporation Substituted. 

Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company
in accordance with Section 5.1, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, lease, conveyance or other disposition is made shall succeed to, and be substituted for,
and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor person has been named as the Company herein; provided, however, that the predecessor Company in the case of a sale,
conveyance or other disposition (other than a lease) shall be released from all obligations and covenants under this Indenture and the Securities. 

ARTICLE VI. 
 DEFAULTS AND REMEDIES

 Section 6.1. Events of Default. 

“Event of Default,” wherever used herein with respect to Securities of any Series, means any one of the following
events, unless in the establishing Board Resolution, supplemental indenture or Officer’s Certificate, it is provided that such Series shall not have the benefit of said Event of Default: 

(a) default in the payment of any interest on any Security of that Series when it becomes due and payable, and continuance
of such default for a period of 30 days (unless the entire amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to 11:00 a.m., New York City time, on the
30th day of such period); or 
 (b) default in the payment of
principal of any Security of that Series at its Maturity; or 
 (c) default in the performance or breach of any covenant
or warranty of the Company in this Indenture (other than defaults pursuant to paragraphs (a) or (b) above or pursuant to a covenant or warranty that has been included in this Indenture solely for the benefit of Series of Securities other
than that Series), which default continues uncured for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal
amount of the outstanding Securities of that Series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 

  
 19 

 (d) the Company pursuant to or within the meaning of any Bankruptcy Law: 

(i) commences a voluntary case, 

(ii) consents to the entry of an order for relief against it in an involuntary case, 

(iii) consents to the appointment of a Custodian of it or for all or substantially all of its property, 

(iv) makes a general assignment for the benefit of its creditors, or 

(v) generally is unable to pay its debts as the same become due; or 

(e) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(i) is for relief against the Company in an involuntary case, 

(ii) appoints a Custodian of the Company or for all or substantially all of its property, or 

(iii) orders the liquidation of the Company, 

and the order or decree remains unstayed and in effect for 60 days; or 

(f) any other Event of Default provided with respect to Securities of that Series, which is specified in a Board
Resolution, a supplemental indenture hereto or an Officer’s Certificate, in accordance with Section 2.2.18. 
 The term
“Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 The Company will provide the Trustee written notice of any Default or Event of Default within 30 days of becoming aware of the occurrence
of such Default or Event of Default, which notice will describe in reasonable detail the status of such Default or Event of Default and what action the Company is taking or proposes to take in respect thereof. 

Section 6.2. Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default with respect to Securities of any Series at the time outstanding occurs and is continuing (other than an Event of
Default referred to in Section 6.1(d) or (e)) then in every such case the Trustee or the Holders of not less than 25% in principal amount of the outstanding Securities of that Series may declare the principal amount (or, if any Securities of
that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities of that Series to be due and payable immediately, by
a notice in writing to the 

  
 20 

 
Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately due
and payable. If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto become and be
immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 
 At any time after such a
declaration of acceleration with respect to any Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount
of the outstanding Securities of that Series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if all Events of Default with respect to Securities of that Series, other than the
non-payment of the principal and interest, if any, of Securities of that Series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13. 

No such rescission shall affect any subsequent Default or impair any right consequent thereon. 

Section 6.3. Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if 

(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such
default continues for a period of 30 days, or 
 (b) default is made in the payment of principal of any Security at the
Maturity thereof, or 
 (c) default is made in the deposit of any sinking fund payment, if any, when and as due by the
terms of a Security, 
 then, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole
amount then due and payable on such Securities for principal and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any overdue interest at the rate or rates prescribed
therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the compensation, reasonable 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, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Securities
and collect the moneys adjudged or deemed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. 

  
 21 

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

Section 6.4. Trustee May File Proofs of Claim. 

In case of the pendency of any 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 of 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 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 compensation, reasonable expenses, disbursements and advances of
the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 
 (b) to collect and
receive any moneys or other property payable or deliverable on any such claims and to distribute the same, 
 and any custodian, receiver, assignee,
trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder 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, to pay to the Trustee any amount due it for the compensation, reasonable expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.7. 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any
plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

Section 6.5. Trustee May Enforce Claims Without Possession of Securities. 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of
any of the Securities or the production thereof in any proceeding relating thereto, 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 compensation, reasonable expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered.

  
 22 

 Section 6.6. Application of Money Collected. 

Any money or property 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 or property on account of principal or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 First: To the payment of all amounts due the Trustee under Section 7.7; and 

Second: To the payment of the amounts then due and unpaid for principal of and interest on the Securities 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 for principal and interest, respectively; and 

Third: To the Company. 

Section 6.7. Limitation on Suits. 

No Holder of any Security of any Series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 
 (a) such Holder
has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that Series; 

(b) the Holders of 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; 

(c) such Holder or Holders have offered to the Trustee indemnity or security satisfactory to the Trustee against the
costs, expenses and liabilities which might be incurred by the Trustee in compliance with such request; 
 (d) the
Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 

(e) 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 of that Series; 
 it being understood, intended and expressly covenanted by the
Holder of every Security with every other Holder and the Trustee that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect,

  
 23 

 
disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture
(it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders), except in the manner herein provided and for the equal and ratable benefit of
all such Holders of the applicable Series. 
 Section 6.8. Unconditional Right of Holders to Receive Principal and
Interest. 
 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute
and unconditional, to receive payment of the principal of and interest, if any, on such Security on the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in the case of redemption, on the redemption date) and
to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 

Section 6.9. Restoration of Rights and Remedies. 

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

Section 6.10. Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.8,
no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every
other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by law, prevent the concurrent
assertion or employment of any other appropriate right or remedy. 
 Section 6.11. Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall
impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often
as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

  
 24 

 Section 6.12. Control by Holders. 

The Holders of a majority in principal amount of the outstanding Securities of any 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, with respect to the Securities of such Series, provided that 

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

(b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, 

(c) subject to the provisions of Section 7.1, the Trustee shall have the right to decline to follow any such
direction if the Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability, and 

(d) prior to taking any action as directed under this Section 6.12, the Trustee shall be entitled to indemnity
satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 

Section 6.13. Waiver of Past Defaults. 

The Holders of not less than a majority in principal amount of the outstanding Securities of any Series may on behalf of the Holders of all the
Securities of such Series, by written notice to the Trustee and the Company, waive any past Default hereunder with respect to such Series and its consequences, except a Default in the payment of the principal of or interest on any Security of such
Series (provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration).
Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; 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 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 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 Company, 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 for the enforcement of the payment of the principal of or interest on any Security on or after the Maturity of
such Security, including the Stated Maturity expressed in such Security (or, in the case of redemption, on the redemption date). 

  
 25 

 ARTICLE VII. 

TRUSTEE 

Section 7.1. Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise 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 person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(i) The Trustee need perform only those duties that are specifically set forth in this Indenture and no others. 

(ii) In the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon Officer’s Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of this Indenture; however, in the case of any such Officer’s Certificates
or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officer’s Certificates and Opinions of Counsel to determine whether or not they conform to the form
requirements of this Indenture. 
 (c) The Trustee may not be relieved from liability for its own negligent action, its
own negligent failure to act or its own willful misconduct, except that: 
 (i) This paragraph does not limit the effect of
paragraph (b) of this Section; 
 (ii) The Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (iii) The
Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the
outstanding Securities of such Series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the
Securities of such Series in accordance with Section 6.12 and 

  
 26 

 (iv) No provision of this Indenture shall require the Trustee to expend or risk
its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers if adequate indemnity against such risk is not assured to the Trustee to its satisfaction.

 (d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraph (a),
(b) and (c) of this Section. 
 (e) The Trustee may refuse to perform any duty or exercise any right or power
unless it receives indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in performing such duty or exercising such right or power. 

(f) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing
with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

(g) The Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections, indemnities and
immunities as are set forth in paragraphs (e), (f) and (g) of this Section and in Section 7.2 and Section 7.7, each with respect to the Trustee. 

Section 7.2. Rights of Trustee. 

(a) The Trustee may rely on and shall be protected in acting or refraining from acting upon any document (whether in its
original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 

(b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel
or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. 

(c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent
appointed with due care. No Depositary shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any Depositary. 

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be
authorized or within its rights or powers. 
 (e) The Trustee may consult with counsel and the advice of such counsel or
any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder without willful misconduct or negligence, and in reliance thereon. 

  
 27 

 (f) The Trustee shall be under no obligation to exercise any of the rights
or powers vested in it by this Indenture at the request or direction of any of the Holders of Securities unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which
might be incurred by it in compliance with such request or direction. 
 (g) 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, other evidence of indebtedness or other paper or document, but
the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit. 

(h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the
Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities generally or the Securities
of a particular Series and this Indenture. 
 (i) In no event shall the Trustee be liable to any person for special,
punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage. 

(j) The permissive right of the Trustee to take the actions permitted by this Indenture shall not be construed as an
obligation or duty to do so. 
 (k) the Trustee shall not be required to give any bond or surety in respect of the
performance of its powers and duties hereunder. 
 Section 7.3. Individual Rights of Trustee. 

The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or an
Affiliate of the Company with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is also subject to Sections 7.10 and 7.11. 

Section 7.4. Trustee’s Disclaimer. 

The Trustee makes no representation as to the enforceability, validity or adequacy of this Indenture or the Securities, it shall not be
accountable for the Company’s use of the proceeds from, or payment on, the Securities, and it shall not be responsible for any statement in the Securities other than its authentication. The Trustee shall not be responsible for the acts or
omissions of the Issuer or Depositary, and may assume compliance with the documents by such parties absent actual notice to the contrary. 

  
 28 

 Section 7.5. Notice of Defaults. 

If a Default or Event of Default occurs and is continuing with respect to the Securities of any Series and if it is known to a Responsible
Officer of the Trustee, the Trustee shall send to each Securityholder of the Securities of that Series notice of a Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Trustee has knowledge of
such Default or Event of Default. Except in the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as its corporate trust committee or a
committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Securityholders of that Series. 

Section 7.6. Reports by Trustee to Holders. 

Within 60 days after each anniversary of the date of this Indenture, the Trustee shall transmit by mail to all Securityholders, as their names
and addresses appear on the register kept by the Registrar, a brief report dated as of such anniversary date, in accordance with, and to the extent required under, TIA § 313. 

A copy of each report at the time of its mailing to Securityholders of any Series shall be filed with the SEC and each national securities
exchange on which the Securities of that Series are listed. The Company shall promptly notify the Trustee in writing when Securities of any Series are listed on any national securities exchange. 

Section 7.7. Compensation and Indemnity. 

The Company shall pay to the Trustee from time to time compensation for its services as the Company and the Trustee shall from time to time
agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out of pocket expenses incurred by it.
Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel. 
 The Company shall
indemnify each of the Trustee and any predecessor Trustee (including for the cost of defending itself) against any cost, expense or liability, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee)
incurred by it except as set forth in the next paragraph in the performance of its duties under this Indenture as Trustee or Agent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to
so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel and the Company shall pay the reasonable
fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent will not be unreasonably withheld. This indemnification shall apply to officers, directors, employees, shareholders and agents of
the Trustee. 

  
 29 

 The Company need not reimburse any expense or indemnify against any loss or liability incurred by
the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through willful misconduct or negligence. 
 To
secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities of any Series on all money or property held or collected by the Trustee, except that held in trust to pay principal of and interest
on particular Securities of that Series. 
 When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.1(d) or (e) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 

The provisions of this Section shall survive the termination of this Indenture, and the resignation or removal of the Trustee. 

Section 7.8. Replacement of Trustee. 

A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s
acceptance of appointment as provided in this Section. 
 The Trustee may resign with respect to the Securities of one or more Series by so
notifying the Company at least 30 days prior to the date of the proposed resignation. The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee and
the Company at least 30 days prior to the date of the proposed resignation. The Company may remove the Trustee upon 30 days’ notice with respect to Securities of one or more Series if: 

(a) the Trustee fails to comply with Section 7.10; 

(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under
any Bankruptcy Law; 
 (c) a Custodian or public officer takes charge of the Trustee or its property; or 

(d) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company.

 If a successor Trustee with respect to the Securities of any one or more Series does not take office within 60 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least a majority in principal amount of the Securities of the applicable Series may, at the expense of the Company, petition any court of competent jurisdiction
for the appointment of a successor Trustee. 

  
 30 

 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee
and to the Company. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.7, the resignation or removal of the retiring Trustee
shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a notice
of its succession to each Securityholder of each such Series. Notwithstanding replacement of the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 hereof shall continue for the benefit of the retiring
Trustee with respect to expenses and liabilities incurred by it for actions taken or omitted to be taken in accordance with its rights, powers and duties under this Indenture prior to such replacement. 

Section 7.9. Successor Trustee by Merger, Etc. 

If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
corporation, the successor corporation without any further act shall be the successor Trustee, subject to Section 7.10. 

Section 7.10. Eligibility; Disqualification. 

This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee shall always
have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA § 310(b). 

Section 7.11. Preferential Collection of Claims Against Company. 

The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or
been removed shall be subject to TIA § 311(a) to the extent indicated. 
 ARTICLE VIII. 

SATISFACTION AND DISCHARGE; DEFEASANCE 

Section 8.1. Satisfaction and Discharge of Indenture. 

This Indenture shall upon Company Order be discharged with respect to the Securities of any Series and cease to be of further effect as to all
Securities of such Series (except as hereinafter provided in this Section 8.1), and the Trustee, at the expense of the Company, shall execute instruments acknowledging satisfaction and discharge of this Indenture, when 

(a) either 

  
 31 

 (i) all Securities of such Series theretofore authenticated and delivered (other
than Securities that have been destroyed, lost or stolen and that have been replaced or paid) have been delivered to the Trustee for cancellation; or 

(ii) all such Securities of such Series not theretofore delivered to the Trustee for cancellation 

(1) have become due and payable by reason of sending a notice of redemption or otherwise, or 

(2) will become due and payable at their Stated Maturity within one year, or 

(3) have been called for redemption or are to be called for redemption within one year under arrangements satisfactory to the
Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, or 
 (4) are
deemed paid and discharged pursuant to Section 8.3, as applicable; 
 and the Company, in the case of (1), (2) or (3) above, shall have
irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust an amount of money, U.S. Government Obligations (or other securities as agreed to in writing from time to time with the Trustee, such securities “Other
Obligations”), which amount shall be sufficient for the purpose of paying and discharging each installment of principal (including mandatory sinking fund or analogous payments) of and interest on all the Securities of such Series on the dates
such installments of principal or interest are due; 
 (b) the Company has paid or caused to be paid all other sums
payable hereunder by the Company; and 
 (c) the Company shall have delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to the satisfaction and discharge contemplated by this Section have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.7, and,
if money shall have been deposited with the Trustee pursuant to clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall survive. 

Section 8.2. Application of Trust Funds; Indemnification. 

(a) Subject to the provisions of Section 8.5, all money and U.S. Government Obligations or Other Obligations
deposited with the Trustee pursuant to Section 8.1, 8.3 or 8.4 and all money received by the Trustee in respect of U.S. Government Obligations or Other Obligations deposited with the Trustee pursuant to Section 8.1, 8.3 or 8.4, shall

  
 32 

 
be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal and interest for whose payment such money has been deposited with or received by the Trustee or to make mandatory sinking fund payments
or analogous payments as contemplated by Sections 8.1, 8.3 or 8.4. 
 (b) The Company shall pay and shall indemnify the
Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Other Obligations deposited pursuant to Sections 8.1, 8.3 or 8.4 or the interest and principal received in respect of such obligations other
than any payable by or on behalf of Holders. 
 (c) The Trustee shall deliver or pay to the Company from time to time
upon Company Order any U.S. Government Obligations or Other Obligations or money held by it as provided in Sections 8.3 or 8.4 which, in the opinion of a nationally recognized firm of independent certified public accountants or investment bank
expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such U.S. Government Obligations or Other Obligations or
money were deposited or received. This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations or Other Obligations held under this Indenture. 

Section 8.3. Legal Defeasance of Securities of any Series. 

Unless this Section 8.3 is otherwise specified, pursuant to Section 2.2, to be inapplicable to Securities of any Series, the Company
shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit referred to in subparagraph (d) hereof, and the provisions of this Indenture, as
it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall, upon receipt of a Company Order, execute instruments acknowledging the same), except as to: 

(a) the rights of Holders of Securities of such Series to receive, from the trust funds described in subparagraph
(d) hereof, (i) payment of the principal of and each installment of principal of and interest on the outstanding Securities of such Series on the Maturity of such principal or installment of principal or interest and (ii) the benefit
of any mandatory sinking fund payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such Series; 

(b) the provisions of Sections 2.4, 2.5, 2.7, 2.8, 7.7, 8.2, 8.3, 8.5 and 8.6; and 

(c) the rights, powers, trusts and immunities of the Trustee hereunder and the Company’s obligations in connection
therewith; 
 provided that, the following conditions shall have been satisfied: 

  
 33 

 (d) the Company shall have irrevocably deposited or caused to be deposited
(except as provided in Section 8.2(c)) with the Trustee as trust funds specifically pledged as security for and dedicated solely to the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in
Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Other Obligations, which through the payment of
interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an
amount in cash, sufficient, in the opinion of a nationally recognized firm of independent public accountants or investment bank expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal
of and interest, on and any mandatory sinking fund payments in respect of all the Securities of such Series on the dates such installments of principal or interest and such sinking fund payments are due; 

(e) such deposit will 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; 
 (f) no Default or Event of Default
with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date; 

(g) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel to the effect
that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution 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 of Counsel shall confirm that, the Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit,
defeasance and discharge and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred; 

(h) the Company shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made by
the Company with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company; 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 provided for relating to the defeasance contemplated by this Section have been complied with. 

  
 34 

 Section 8.4. Covenant Defeasance. 

Unless this Section 8.4 is otherwise specified pursuant to Section 2.2 to be inapplicable to Securities of any Series, the Company
may omit to comply with respect to the Securities of any Series with any term, provision or condition set forth under Sections 4.2, 4.3, 4.4 and 5.1 and, unless otherwise specified therein, any additional covenants specified in a supplemental
indenture for such Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2 (and the failure to comply with any such covenants shall not constitute a Default or Event of Default with respect
to such Series under Section 6.1) and the occurrence of any event specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2 and designated
as an Event of Default shall not constitute a Default or Event of Default hereunder, with respect to the Securities of such Series, but, except as specified above, the remainder of this Indenture and such Securities will be unaffected thereby;
provided that the following conditions shall have been satisfied: 
 (a) with reference to this Section 8.4, the
Company has irrevocably deposited or caused to be irrevocably deposited (except as provided in Section 8.2(c)) 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 (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series
denominated in a Foreign Currency (other than a composite currency), money and/or Other Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and
assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent certified public accountants
or investment bank expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal (including mandatory sinking fund or analogous payments) of and interest on all the Securities of such
Series on the dates such installments of principal or interest are due; 
 (b) such deposit will 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; 

(c) no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on
the date of such deposit; 
 (d) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel to the effect that (i) the company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution 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 of Counsel shall confirm, subject to customary exclusions, that the Holders of the Securities of such Series will not recognize income, gain or loss
for Federal income tax purposes as a result of such deposit, covenant defeasance and discharge and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit,
covenant defeasance and discharge had not occurred; 

  
 35 

 (e) The Company shall have delivered to the Trustee an Officer’s
Certificate stating the deposit was not made by the Company with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company; and 

(f) The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating
that all conditions precedent herein provided for relating to the covenant defeasance contemplated by this Section have been complied with. 

Section 8.5. Repayment to Company. 

Subject to applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon request any money held by them for
the payment of principal and interest that remains unclaimed for two years. After that, Securityholders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another
person. 
 Section 8.6. Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money deposited with respect to Securities of any Series in accordance with
Section 8.1 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the obligations of the Company under this Indenture
with respect to the Securities of such Series and under the Securities of such Series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.1 until such time as the Trustee or the Paying Agent is permitted to
apply all such money in accordance with Section 8.1; provided, however, that if the Company has made any payment of principal of or interest on or any Additional Amounts with respect to any Securities because of the reinstatement
of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent after payment in full to the Holders. 

ARTICLE IX. 
 AMENDMENTS AND
WAIVERS 
 Section 9.1. Without Consent of Holders. 

The Company and the Trustee may amend or supplement this Indenture or the Securities of one or more Series without the consent of any
Securityholder: 
 (a) to cure any ambiguity, defect or inconsistency; 

(b) to comply with Article V; 

(c) to provide for uncertificated Securities in addition to or in place of certificated Securities; 

  
 36 

 (d) to add guarantees with respect to Securities of any Series or secure
Securities of any Series; 
 (e) to surrender any of the Company’s rights or powers under this Indenture; 

(f) to add covenants or events of default for the benefit of the holders of Securities of any Series; 

(g) to comply with the applicable procedures of the applicable depositary; 

(h) to make any change that does not adversely affect the rights of any Securityholder; 

(i) to provide for the issuance of and establish the form and terms and conditions of Securities of any Series as
permitted by this Indenture; 
 (j) to evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Securities of one or more Series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee; or

 (k) to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under
the TIA. 
 Section 9.2. With Consent of Holders. 

The Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority in principal
amount of the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series), 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 Securityholders of each such Series. Except as provided in Section 6.13, the
Holders of at least a majority in principal amount of the outstanding Securities of any Series by notice to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series) may waive
compliance by the Company with any provision of this Indenture or the Securities with respect to such Series. 
 It shall not be necessary
for the consent of the Holders of Securities under this Section 9.2 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof. After a supplemental
indenture or waiver under this section becomes effective, the Company shall send to the Holders of Securities affected thereby, a notice briefly describing the supplemental indenture or waiver. Any failure by the Company to send such notice, or any
defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver. 

  
 37 

 Section 9.3. Limitations. 

Without the consent of each Securityholder affected, an amendment or waiver may not: 

(a) reduce the principal amount of Securities whose Holders must consent to an amendment, supplement or waiver; 

(b) reduce the rate of or extend the time for payment of interest (including default interest) on any Security; 

(c) reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed
for, the payment of any sinking fund or analogous obligation; 
 (d) reduce the principal amount of Discount Securities
payable upon acceleration of the maturity thereof; 
 (e) waive a Default or Event of Default in the payment of the
principal of or interest, if any, on any Security (except a rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a waiver of the payment
default that resulted from such acceleration); 
 (f) make the principal of or interest, if any, on any Security payable
in any currency other than that stated in the Security; 
 (g) make any change in Sections 6.8, 6.13 or 9.3 (this
sentence); or 
 (h) waive a redemption payment with respect to any Security, provided that such redemption is made at
the Company’s option. 
 Section 9.4. Compliance with Trust Indenture Act. 

Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that complies
with the TIA as then in effect. 
 Section 9.5. Revocation and Effect of Consents. 

Until an amendment is set forth in a supplemental indenture or a waiver becomes effective, a consent to it by a Holder of a Security is a
continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such
Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the date of the supplemental indenture or the date the waiver becomes effective. 

  
 38 

 Any amendment or waiver once effective shall bind every Securityholder of each Series affected by
such amendment or waiver unless it is of the type described in any of clauses (a) through (h) of Section 9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent
Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security. 
 The Company may, but
shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is
fixed, then notwithstanding the second immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those persons, shall be entitled to give such consent or to revoke any consent
previously given or take any such action, whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. 

Section 9.6. Notation on or Exchange of Securities. 

The Company or the Trustee may place an appropriate notation about an amendment or waiver on any Security of any Series thereafter
authenticated. The Company in exchange for Securities of that Series may issue and the Trustee shall authenticate upon receipt of a Company Order in accordance with Section 2.3 new Securities of that Series that reflect the amendment or waiver.

 Section 9.7. Trustee Protected. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby
of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in relying upon, an Officer’s Certificate or an Opinion of Counsel or both complying with
Section 10.4, stating that such supplemental indenture is authorized or permitted, and an Opinion of Counsel stating that such supplemental indenture is the legally valid and binding agreement of the Company, enforceable against the Company in
accordance with its terms. The Trustee shall sign all supplemental indentures upon delivery of such an Officer’s Certificate or Opinion of Counsel or both, except that the Trustee need not sign any supplemental indenture that adversely affects
its rights, duties, liabilities or immunities under this Indenture. 
 ARTICLE X. 

MISCELLANEOUS 

Section 10.1. Trust Indenture Act Controls. 

If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required or deemed to be included in this
Indenture by the TIA, such required or deemed provision shall control. 
 Section 10.2. Notices. 

Any notice or communication by the Company or the Trustee to the other, or by a Holder to the Company or the Trustee, is duly given if in
writing and delivered in person or mailed by first-class mail (registered or certified, return receipt requested), facsimile transmission, email or overnight air courier guaranteeing next day delivery, to the
others’ address: 

  
 39 

 if to the Company: 

Medpace Holdings, Inc. 
 5375
Medpace Way 
 Cincinnati, Ohio 45227 

Attention: General Counsel 

Telephone: (513) 579-9911 
 with a copy to:

 Latham & Watkins LLP 

885 Third Ave. 
 New York, New
York 10022 
 Attention: Howard A. Sobel, Esq. and Gregory P. Rodgers, Esq. 

Telephone: (212) 906-1322 and (212) 906-2918 

if to the Trustee: 
 Wells Fargo Bank, National
Association 
 1 Independent Drive, Suite 620 

Jacksonville, Florida 32202 

Attention: Corporate, Municipal and Escrow Services—Medpace Holdings, Inc. Administrator 

Telephone: 904-351-7259 
 The
Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 

Any notice or communication to a Securityholder shall be sent electronically or by first-class mail to his, her or its address shown on the
register kept by the Registrar, in accordance with the procedures of the Depositary. Failure to send a notice or communication to a Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to other
Securityholders of that or any other Series. 
 If a notice or communication is sent or published in the manner provided above, within the
time prescribed, it is duly given, whether or not the Securityholder receives it. 
 If the Company sends a notice or communication to
Securityholders, it shall send a copy to the Trustee and each Agent at the same time. 
 Notwithstanding any other provision of this
Indenture or any Security, where this Indenture or any Security provides for notice of any event (including any notice of redemption) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given to the
Depositary for such Security (or its designee) pursuant to the customary procedures of such Depositary. 

  
 40 

 Section 10.3. Communication by Holders with Other Holders. 

Securityholders of any Series may communicate pursuant to TIA § 312(b) with other Securityholders of that Series or any other Series with
respect to their rights under this Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 

Section 10.4. Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the
Trustee: 
 (a) an Officer’s Certificate stating that, in the opinion of the signers, all conditions precedent, if
any, provided for in this Indenture relating to the proposed action have been complied with; and 
 (b) an Opinion of
Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 

Section 10.5. Statements Required in Certificate or Opinion. 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate
provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include: 

(a) a statement that the person making such certificate or opinion has read such covenant or condition; 

(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (c) a statement that, in the opinion of 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 

(d) a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with.

 Section 10.6. Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or more Series. Any Agent may make reasonable rules
and set reasonable requirements for its functions. 

  
 41 

 Section 10.7. Legal Holidays. 

A “Legal Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment
may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. 

Section 10.8. No Recourse Against Others. 

A director, officer, employee or stockholder (past or present), as such, of the Company shall not have any liability for any obligations of the
Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Securityholder by accepting a Security waives and releases all such liability. The waiver and release are
part of the consideration for the issue of the Securities. 
 Section 10.9. Counterparts. 

This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed
shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and
delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all
purposes. 
 Section 10.10. Governing Law; Waiver of Jury Trial; Consent to Jurisdiction. 

THIS INDENTURE AND THE SECURITIES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR THE SECURITIES, SHALL
BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
 THE COMPANY, THE TRUSTEE AND THE HOLDERS (BY THEIR ACCEPTANCE OF THE SECURITIES)
EACH HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

 Any legal suit, action or proceeding arising out of or based upon this Indenture or the transactions contemplated hereby may be
instituted in the federal courts of the United States of America located in the City of New York or the courts of the State of New York in each case located in the City of New York (collectively, the “Specified Courts”), and each
party irrevocably submits to the non exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail (to the extent allowed under any applicable statute or rule of court) to
such party’s address set forth above shall be effective service of process for any suit, action or other proceeding brought in any such court. The Company, the Trustee and the Holders (by their acceptance of the Securities) each hereby
irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim any such suit, action or other
proceeding has been brought in an inconvenient forum. 

  
 42 

 Section 10.11. No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such
indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 10.12. Successors. 

All agreements of the Company in this Indenture and the Securities shall bind its successor. All agreements of the Trustee in this Indenture
shall bind its successor. 
 Section 10.13. Severability. 

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. 
 Section 10.14. Table of
Contents, Headings, Etc. 
 The Table of Contents, Cross Reference Table, and headings of the Articles and Sections of this Indenture
have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

Section 10.15. Securities in a Foreign Currency. 

Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant to
Section 2.2 of this Indenture with respect to a particular Series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in aggregate principal amount of Securities of all Series
or all Series affected by a particular action at the time outstanding and, at such time, there are outstanding Securities of any Series which are denominated in more than one currency, then the principal amount of Securities of such Series which
shall be deemed to be outstanding for the purpose of taking such action shall be determined by converting any such other currency into a currency that is designated upon issuance of any particular Series of Securities. Unless otherwise specified in
a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of Securities, such conversion shall be at the spot rate for the
purchase of the designated currency as published in The Financial Times in the “Currency Rates” section (or, if The Financial Times is no longer published, or if such information is no longer available in The Financial Times, such source
as may be selected in good faith by the Company) on any date of determination. The provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than
Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture. 

  
 43 

 All decisions and determinations by the Company provided for in the preceding paragraph shall, in
the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and irrevocably binding upon the Trustee and all Holders. 

Section 10.16. Judgment Currency. 

The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining
judgment in any court it is necessary to convert the sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be rendered
(the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Company could purchase in The City of New York the Required Currency with the Judgment Currency on the
day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Company could purchase in The City of New
York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency
(i) shall not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or
recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the
purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not be affected by judgment being obtained
for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or
required by law, regulation or executive order to close. 
 Section 10.17. Force Majeure. 

In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of
or caused by, directly or indirectly, forces beyond its control, including, without limitation, 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 best efforts which are consistent with accepted practices in the banking
industry to resume performance as soon as practicable under the circumstances. 
 Section 10.18. U.S.A. Patriot Act. 

The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee is required to obtain, verify,
and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request
in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act. 

  
 44 

 ARTICLE XI. 

SINKING FUNDS 

Section 11.1. Applicability of Article. 

The provisions of this Article shall be applicable to any sinking fund for the retirement of the Securities of a Series if so provided by the
terms of such Securities pursuant to Section 2.2 and except as otherwise permitted or required by any form of Security of such Series issued pursuant to this Indenture. 

The minimum amount of any sinking fund payment provided for by the terms of the Securities of any Series is herein referred to as a
“mandatory sinking fund payment” and any other amount provided for by the terms of Securities of such Series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of
any Series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 11.2. Each sinking fund payment shall be applied to the redemption of Securities of any Series as provided for by the terms of the
Securities of such Series. 
 Section 11.2. Satisfaction of Sinking Fund Payments with Securities. 

The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any Series to be made
pursuant to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable (other than any of such Securities previously called for mandatory sinking fund redemption) and
(2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have been repurchased by the Company or redeemed either at the election of the Company pursuant to the terms of such Series of Securities
(except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been previously so
credited. Such Securities shall be received by the Trustee, together with an Officer’s Certificate with respect thereto, not later than 15 days prior to the date on which the Trustee begins the process of selecting Securities for redemption,
and shall be credited for such purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. If as a result of the
delivery or credit of Securities in lieu of cash payments pursuant to this Section 11.2, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee
need not call Securities of such Series for redemption, except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment,
provided, however, that the Trustee or such Paying Agent shall from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by
the Company to the Trustee of Securities of that Series purchased by the Company having an unpaid principal amount equal to the cash payment required to be released to the Company. 

  
 45 

 Section 11.3. Redemption of Securities for Sinking Fund. 

Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental indenture hereto or Officer’s Certificate in
respect of a particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing mandatory sinking
fund payment for that Series pursuant to the terms of that Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that
Series pursuant to Section 11.2, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon be obligated to pay the amount therein specified. Not less than 30 days
(unless otherwise indicated in the Board Resolution, Officer’s Certificate or supplemental indenture in respect of a particular Series of Securities) before each such sinking fund payment date the Securities to be redeemed upon such sinking
fund payment date will be selected in the manner specified in Section 3.2 and the Company shall send or cause to be sent a notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in
and in accordance with Section 3.3. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.4, 3.5 and 3.6. 

  
 46 

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

	
	MEDPACE HOLDINGS, INC.
	
	By:                                     
                                         
                        
	       Name:
	       Its:
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

	
	By:                                     
                                         
                        
	       Name:
	       Its:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00274-of-00352.parquet"}]]