Document:

rhe-ex48_847.htm

Exhibit 4.8

Restricted Common Stock Award Agreement

(Employee Form)

This Restricted Common Stock Award Agreement (this “Agreement”) is made and entered into as of _________ (the “Grant Date”) by and between Regional Health Properties, Inc., a Georgia corporation (the “Company”), and ______________ (the “Grantee”).

WHEREAS, the Company has adopted, and the Company’s shareholders have approved, the Regional Health Properties, Inc. 2020 Equity Incentive Plan (the “Plan”);

WHEREAS, capitalized terms that are used but not defined in this Agreement have the meaning ascribed to them in the Plan; and

WHEREAS, the Committee has determined that it is in the best interests of the Company and its shareholders to grant an Award of Restricted Common Stock under the Plan as provided in this Agreement.

NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows:

1.Grant of Restricted Common Stock.  Pursuant to Article 6 of the Plan, the Company hereby grants to the Grantee on the Grant Date an Award of Restricted Common Stock consisting of, in the aggregate, __________ shares of Common Stock (the “Shares”), on the terms and conditions and subject to the restrictions set forth in this Agreement and the Plan. 

2.Consideration.  The grant of the Shares is made in consideration of the services to be rendered by the Grantee to the Company.  

3.Vesting.

3.1Subject to Section 3.2 of this Agreement and except as otherwise set forth in this Agreement, the Shares will vest in accordance with the following schedule: 

	
Vesting Date
	
Number of Shares Which Vest on the Vesting Date

	
______________
	
[one-third of the Shares]

	
______________ 

______________
	
[one-third of the Shares]

[one-third of the Shares]

 

3.2The vesting schedule set forth in Section 3.1 of this Agreement notwithstanding, and except as otherwise set forth in any Employment Agreement with the Grantee, the Shares which have not vested as of the Grantee’s Termination of Employment shall 

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be automatically forfeited upon such Termination of Employment and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement.

4.Transferability.  Subject to any exceptions set forth in the Plan, the Shares and any rights relating thereto may not be transferred, alienated, pledged, encumbered, assigned or otherwise disposed of until the Shares have vested, and any attempt to do so shall be null and void and of no effect.

5.Rights as Shareholder; Dividends.

5.1The Company may issue stock certificates evidencing the Shares or evidence the Grantee’s interest by using a restricted book entry account with the Company’s transfer agent.  Physical custody of any stock certificates that are issued may be retained by the Company or its transfer agent as escrow holder until such time as the Shares vest.

5.2Upon delivery of the Shares to the Grantee or the escrow holder, and subject to the provisions of this Agreement, the Grantee shall have with respect to the Shares all of the rights of an owner of Common Stock including, without limitation, the right to vote such Shares and receive all dividends or other distributions paid with respect to such Shares. 

5.3If the Grantee forfeits any Shares in accordance with Section 3 of this Agreement, then the Grantee shall, on the date of such forfeiture, no longer have any rights as an owner of Common Stock with respect such Shares and shall no longer be entitled to vote or receive dividends on such Shares.

6.No Right to Continued Service.  Nothing in the Plan or this Agreement: (a) shall confer upon the Grantee any right to continue his or her employment relationship with the Company or any Affiliate, or to be retained in any position, whether as an Employee, Consultant, Director or otherwise; or (b) shall interfere with, or restrict in any way, the rights of the Company or any Affiliate to discharge or terminate the relationship with the Grantee at any time for any reason whatsoever, subject to the terms of any Employment Agreement entered into by the Grantee and the Company or any Affiliate.

7.Tax Liability and Withholding.

7.1The Grantee shall be required to pay to the Company, and the Company shall have the right to deduct from any compensation payable to the Grantee, the amount of any required withholding taxes in respect of the Shares and to take all such other action as the Committee deems necessary to satisfy all obligations for the payment of such withholding taxes.  In the discretion of the Committee, the Grantee may satisfy any federal, state or local tax withholding obligation by any of the following means, or by a combination of such means: 

(a)tendering a cash payment;

(b)authorizing the Company to withhold shares of Common Stock otherwise issuable or deliverable under this Agreement (or to allow the return of shares of Common Stock) having a Fair Market Value equal to the amount required to be withheld; provided, 

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however, that no shares of Common Stock shall be withheld with a value exceeding the maximum amount of tax required to be withheld by Applicable Law; or

(c)delivering to the Company previously owned and unencumbered shares of Common Stock with a Fair Market Value equal to the amount required to be withheld.

7.2Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Grantee’s responsibility and the Company: (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant or vesting of the Restricted Stock or the subsequent sale of any shares; and (b) does not commit to structure the Shares to reduce or eliminate the Grantee’s liability for Tax-Related Items.

8.Section 83(b) Election.  The Grantee may make an election under Section 83(b) of the Code (a “Section 83(b) Election”) with respect to the Shares.  Any such election must be made within thirty (30) days after the Grant Date.  If the Grantee elects to make a Section 83(b) Election, then the Grantee shall provide the Company with a copy of an executed version and satisfactory evidence of the filing of the executed Section 83(b) Election with the U.S. Internal Revenue Service.  The Grantee agrees to assume full responsibility for ensuring that the Section 83(b) Election is actually and timely filed with the U.S. Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election.

9.Compliance with Law.  The issuance and transfer of the shares of Common Stock subject to the Award granted under this Agreement shall be subject to compliance by the Company and the Grantee with all applicable requirements of federal and state securities laws and with all applicable requirements of any securities exchange on which the Common Stock may be listed.  No such shares of Common Stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel.  The Grantee understands that the Company is under no obligation to register such shares of Common Stock with the Securities and Exchange Commission, any state securities commission or any securities exchange to affect such compliance.

10.Legends.  A legend may be placed on any certificates, book entry accounts or other documents relating to the Shares indicating restrictions on transferability of the Shares pursuant to this Agreement or any other restrictions that the Committee may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any applicable federal or state securities laws or any securities exchange on which the shares of Common Stock are then listed.

11.Notices.  Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary of the Company at the Company’s principal corporate office. Any notice required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee’s address as shown in the records of the Company.  Either party may designate another address in writing (or by such other method approved by the Company) from time to time.

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12.Governing Law.  This Agreement shall be administered, interpreted and enforced under the laws of the State of Georgia, without regard to conflicts of laws thereof.

13.Interpretation.  The Committee shall have the power to interpret this Plan and this Agreement.  The Grantee acknowledges that all decisions and determinations of the Committee shall be final and binding on the Grantee, his or her beneficiaries and any other person having or claiming an interest under this Agreement, the Award granted under this Agreement or the Plan.

14.Subject to the Plan.  This Agreement and the Award granted under this Agreement are subject to the terms and provisions of the Plan.  The terms and provisions of the Plan, as it may be amended from time to time, are hereby incorporated into this Agreement by reference.  In the event of a conflict between any term or provision contained in this Agreement and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

15.Successors and Assigns.  The Company may assign any of its rights under this Agreement.  This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer set forth in this Agreement and the Plan, this Agreement will be binding upon the Grantee and the Grantee’s beneficiaries, executors, administrators and the persons to whom the Shares may be transferred by will or under Applicable Law regarding descent and distribution.

16.Severability.  The invalidity or unenforceability of any provision of this Agreement or the Plan shall not affect the validity or enforceability of any other provision of this Agreement or the Plan, and each provision of this Agreement and the Plan shall be severable and enforceable to the extent permitted by Applicable Law.

17.Discretionary Nature of Plan.  The Plan is discretionary and may be amended or otherwise modified, suspended or terminated at any time from time to time by the Board or the Committee in accordance with its terms.  The grant of an Award under this Agreement does not create any contractual right or other right to receive any Restricted Common Stock or other Awards in the future.  Future Awards, if any, will be at the sole discretion of the Committee.  Any amendment, modification, suspension or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee’s employment with the Company.

18.No Impact on Other Benefits.  Except as may otherwise be set forth in any Employment Agreement with the Grantee, the value of the Shares is not part of the Grantee’s normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

19.Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument.  Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

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20.Acceptance.  The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement.  The Grantee has read and understands the terms and provisions thereof and hereof, and accepts the Award granted under this Agreement subject to all of the terms and conditions of the Plan and this Agreement.  The Grantee acknowledges that there may be adverse tax consequences upon the grant or vesting of the Shares or disposition of the Shares and that the Grantee has been advised to consult a tax advisor prior to such grant, vesting or disposition.

[signature page follows]

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

	
 
	
COMPANY:

REGIONAL HEALTH PROPERTIES, INC.

	
 
	
 

 

By: 

Name: 

Title: 

	
 
	
 

GRANTEE:

	
 
	
 

 

Signature: 

Name:EX-4.1

 Exhibit 4.1 
  

 
  

AUTOMATIC DATA PROCESSING, INC. 

Company 
 AND 

U.S. BANK NATIONAL ASSOCIATION, 

Trustee 
  

 
 SECOND
SUPPLEMENTAL INDENTURE 
 Dated as of May 14, 2021 
  

 
 $1,000,000,000
1.700% Senior Notes due 2028 
  
  

 

 SECOND SUPPLEMENTAL INDENTURE, dated as of May 14, 2021 between Automatic Data
Processing, Inc., a Delaware corporation (the “Company”), and U.S. Bank National Association, a national banking association organized and existing under the laws of the United States of America, as trustee (the “Trustee”):

 WHEREAS, the Company and the Trustee executed and delivered an Indenture, dated as of August 13, 2020 (the “Base
Indenture” and, as supplemented hereby, the “Indenture”), to provide for the issuance by the Company from time to time of senior debt securities evidencing its unsecured indebtedness, to be issued in one or more series as
provided in the Indenture; 
 WHEREAS, pursuant to a Board Resolution, the Company has authorized the issuance of a series of securities
evidencing its senior indebtedness, consisting initially of $1,000,000,000 aggregate principal amount of 1.700% Senior Notes due 2028 (the “2028 Original Notes” and, together with all the Additional 2028 Notes (as defined herein),
if any, hereinafter referred to, the “Notes”); 
 WHEREAS, the entry into this Second Supplemental Indenture by the parties
hereto is in all respects authorized by the provisions of the Indenture; 
 WHEREAS, the Company desires to establish the respective terms
of the Notes in accordance with Section 2.01 of the Base Indenture and to establish the forms of the Notes in accordance with Section 2.02 of the Base Indenture; and 

WHEREAS, all acts and requirements necessary to make this Second Supplemental Indenture a valid and legally binding agreement of the Company,
in accordance with its terms, have been done. 
 NOW, THEREFORE, in consideration of the premises and the purchase of the Notes by the
holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the Noteholders: 
 ARTICLE 1 

Section 1.01. Terms of Notes. The following terms relating to the Notes are hereby established: 

(a) The Notes shall constitute a series of securities having the title “1.700% Senior Notes due 2028.” 

(b) The aggregate principal amount of the 2028 Original Notes that may be authenticated and delivered under the Indenture (except for Notes authenticated and
delivered upon registration of, transfer of, or in exchange for, or in lieu of, other Notes pursuant to Sections 2.05, 2.06, 2.07 or 9.04 of the Base Indenture) shall be up to $1,000,000,000. 

 (c) The entire outstanding principal of the Notes shall be payable on May 15, 2028 plus any unpaid
interest accrued to such date. Any payments under the Indenture shall be received by the Trustee or Paying Agent no later than 10:00 A.M. (ET) on the applicable payment date or redemption date. 

(d) The rate at which the Notes shall bear interest shall be 1.700% per annum; the date from which interest shall accrue on the Notes shall be May 14,
2021 or from the most recent Interest Payment Date to which interest has been paid; the Interest Payment Dates for the Notes on which interest will be payable shall be May 15 and November 15 in each year, beginning November 15, 2021;
the regular record dates for the interest payable on the Notes on any Interest Payment Date shall be the May 1 or November 1 immediately preceding the applicable Interest Payment Date; and the basis upon which interest on the Notes shall
be calculated shall be that of a 360-day year consisting of twelve 30-day months. 

(e) (i) The Notes may be redeemed in whole at any time or in part from time to time, at the option of the Company. 

(ii) The redemption price (the “Redemption Price”) of the Notes to be redeemed shall be calculated as follows, plus, in each
case, accrued and unpaid interest on the principal amount being redeemed to but excluding the redemption date: 
 (A) If the
redemption date is prior to March 15, 2028 (the “Par Call Date”), the Notes to be redeemed may be redeemed by the Company at a Redemption Price equal to the greater of (1) 100% of the principal amount of the Notes to be
redeemed and (2) the sum of the present values of the remaining scheduled payments (through the Par Call Date assuming for such purpose that such Notes to be redeemed matured on the Par Call Date) of principal of and interest on the Notes to be
redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the then current Treasury Rate plus 10 basis points; or 
 (B) If
the redemption date is on or after the Par Call Date, the Notes to be redeemed may be redeemed by the Company at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed. 

(iii) In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Notes in accordance with
Section 1.01(e)(i) – (ii) above, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Notes to be redeemed by electronically delivering or mailing, first class postage prepaid, a notice of such
redemption not less than 15 days and not more than 60 days before the date fixed for redemption to such holders at their last addresses as they shall appear upon the Security Register. Any notice that is mailed in the manner herein provided shall be
conclusively presumed to have been duly given, whether or not the registered holder received the notice. In any case, failure duly to give such notice to the holder of any Note designated for redemption in whole or in part, or any defect in the
notice, shall not affect the validity of the proceedings for the redemption of any other Note. If the Company provides notice to the holders of the Notes, the Company shall give the Trustee written notice of such notice of redemption to holders not
less than 5 days in advance of the date on which such notice of redemption is to be delivered to holders (unless a shorter notice shall be satisfactory to the Trustee and agreed in writing). 

  
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 (A) Each such notice of redemption shall specify the amount of Notes to be
redeemed, the date fixed for redemption, the CUSIP or ISIN number(s) of such Notes and the applicable Redemption Price at which the Notes to be redeemed are to be redeemed, and shall state that payment of the Redemption Price of such Notes to be
redeemed will be made at the office or agency of the Company in the Borough of Manhattan, the City and State of New York, upon presentation and surrender of such Notes, that interest accrued to the date fixed for redemption will be paid as specified
in said notice and, that from and after said date interest will cease to accrue; except that interest shall continue to accrue on any Note or portion thereof with respect to which the Company defaults in the payment of such Redemption Price and
accrued interest. If less than all the Notes are to be redeemed, the notice to the holders of the Notes to be redeemed in part shall specify the particular Notes to be redeemed. In case any Notes are to be redeemed in part only, the notice that
relates to such Notes shall state the portion of the principal amount thereof to be redeemed, and shall state that on and after the redemption date, upon surrender of such security, a new Note in principal amount equal to the unredeemed portion
thereof will be issued. 
 (B) If the Trustee is to provide notice to the holders of the Notes in accordance with this
Section 1.01(e)(iii), for a partial or full redemption, the Company shall give the Trustee at least 30 days’ notice in advance of the date fixed for redemption as to the aggregate principal amount of Notes to be redeemed, and thereupon, in
the case of a partial redemption, the Trustee shall select, by lot or in such other manner as it shall deem appropriate (in accordance with the Depositary’s customary procedures) and that may provide for the selection of a portion or portions
(equal to two thousand U.S. dollars ($2,000) and integral multiples of one thousand U.S. dollars ($1,000) in excess thereof) of the principal amount of Notes of a denomination larger than $2,000, the Notes to be redeemed and shall thereafter
promptly notify the Company in writing of the numbers of the Notes to be redeemed, in whole or in part. 
 (C) The Company
may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Authorized Officer, instruct the Trustee or any paying agent to call all or any part of the Notes for redemption and to give notice of redemption in the
manner set forth in this Section, such notice to be in the name of the Company or its own name as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent,
the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to
enable the Trustee or such paying agent to give any notice that may be required under the provisions of this Section. 

  
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 (D) Subject to Section 2.11 of the Base Indenture with respect to any
Global Security, the Company shall not be required (i) to issue, register the transfer of or exchange any Notes during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of the Notes
selected for redemption and ending at the close of business on the day of such mailing, or (ii) to register the transfer of or exchange any Notes so selected for redemption in whole or in part, except the unredeemed portion of any such Notes
being redeemed in part. 
 (E) If the giving of notice of redemption shall have been completed as above provided, the Notes
or portions of the Notes to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable Redemption Price, and interest on such Notes shall cease to accrue on and after the
date fixed for redemption, except that interest shall continue to accrue on any such Notes or portion thereof with respect to which the Company defaults in the payment of such Redemption Price and accrued interest. 

(iv) As used herein: 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York, New York are
authorized or required by law to remain closed. 
 “Comparable Treasury Issue” means, with respect the Notes, the United
States Treasury security selected by the Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed (assuming that the Notes to be redeemed matured on the Par Call Date)
that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes. 

“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of all
such quotations. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company.

 “Reference Treasury Dealer” means (i) BofA Securities, Inc. and its successors, (ii) Deutsche Bank Securities
Inc. and its successors and (iii) J.P. Morgan Securities LLC and its successors, and not less than two other primary U.S. Government securities dealers for the City of New York (each a “Primary Treasury Dealer”) as the Company
may specify from time to time; provided, however, that if any of them ceases to be a Primary Treasury Dealer, the Company will substitute another Primary Treasury Dealer. 

  
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 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any redemption date in respect of the Notes of a series, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date (or date of deposit in the case of a satisfaction
and discharge). 
 “Treasury Rate” means, with respect to any redemption date in respect of the Notes, the rate per year
equal to: 
 (i) the yield, under the heading which represents the average for the immediately preceding week, appearing in
the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States
Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue; provided that, if no maturity is within three months before or after the
remaining life of the debt securities to be redeemed, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from those
yields on a straight line basis, rounding to the nearest month; or 
 (ii) if such release (or any successor release) is not
published during the week preceding the calculation date or does not contain such yields, the rate per year equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury
Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 
 The Treasury
Rate shall be calculated on the third Business Day preceding the redemption date (or date of deposit in the case of a satisfaction and discharge). 

With respect to Section 1.01(e)(ii)(A) above, the Trustee shall be entitled to conclusively rely upon the calculations of the Independent
Investment Banker. 
 (f) (i) If a Change of Control Triggering Event occurs, unless the Company has exercised its option to redeem the Notes by notifying
the holders of the Notes to that effect in accordance with Section 1.01(e), the Company will be required to make an offer (a “Change of Control Offer”) to each holder of Notes to repurchase all or any part (equal to $2,000 or
integral multiples of $1,000 in excess of $2,000) of that holder’s Notes. In a Change of Control Offer, the Company will be required to offer payment in cash equal to 101% of the aggregate principal amount of the Notes repurchased, plus

  
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accrued and unpaid interest, if any, on the Notes repurchased to, but excluding, the date of repurchase (a “Change of Control Payment”). Within 30 days following any Change of
Control Triggering Event or, at the Company’s option, prior to any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, a notice will be mailed to holders of the Notes,
with a copy to the Trustee, describing the transaction that constitutes or may constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date will be no earlier than 30 days and
no later than 60 days from the date that notice is mailed, other than as may be required by law (a “Change of Control Payment Date”). The notice will, if mailed prior to the date of consummation of the Change of Control, state that
the Change of Control Offer is conditioned on the Change of Control Triggering Event occurring on or prior to the applicable Change of Control Payment Date. 

On each Change of Control Payment Date, the Company will, to the extent lawful: 

(A) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

(B) deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes
properly tendered; and 
 (C) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an
officer’s certificate stating the aggregate principal amount of Notes being repurchased and that all conditions precedent provided for in the Indenture to the Change of Control Offer and to the repurchase by the Company of Notes pursuant to the
Change of Control Offer have been complied with. 
 (ii) The Company will not be required to make a Change of Control Offer upon the
occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and the third party repurchases all Notes properly
tendered and not withdrawn under its offer. 
 (iii) The Company will comply with the requirements of Rule
14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a
Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the Notes, the Company will comply with those securities laws and regulations
and will not be deemed to have breached its obligations under this Section 1.01(f) by virtue of any such conflict. 
 As used herein:

  
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 “Change of Control” means the occurrence of any of the following:
(1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the Company’s assets and the
assets of its subsidiaries, taken as a whole, to any person, other than the Company or one of its subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any
Person becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Company’s
outstanding Voting Stock or other Voting Stock into which its Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (3) the Company consolidates with, or merges with or into,
any Person, or any Person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or the Voting Stock of such other Person is converted into or
exchanged for cash, securities or other property, other than any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of
the Voting Stock of the surviving Person or any direct or indirect parent company of the surviving Person immediately after giving effect to such transaction; or (4) the adoption of a plan relating to the Company’s liquidation or
dissolution. Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control under clause (2) above if (i) the Company becomes a direct or indirect wholly-owned subsidiary of a holding company and (ii)(A) the
direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Company’s Voting Stock immediately prior to that transaction or (B) the shares
of the Company’s Voting Stock outstanding immediately prior to such transaction are converted into or exchanged for, a majority of the Voting Stock of such holding company immediately after giving effect to such transaction. The term
“Person,” as used in this definition, has the meaning given thereto in Section 13(d)(3) of the Exchange Act. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event. 

“Fitch” means Fitch Ratings Inc. and its successors. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s, BBB- (or the equivalent) by S&P and BBB- (or the equivalent) by Fitch, and the equivalent investment grade credit rating from any replacement rating agency or rating
agencies selected by the Company. 
 “Moody’s” means Moody’s Investors Service, Inc. and its successors. 

“Rating Agencies” means (1) each of Moody’s, S&P and Fitch; and (2) if any or all of Moody’s, S&P
or Fitch ceases to rate the applicable Notes or fails to make a rating of the applicable Notes publicly available for reasons beyond the Company’s control, a “nationally recognized statistical rating organization” within the meaning
of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act selected by the Company (as certified by a resolution of the Board of Directors) as a replacement agency for Moody’s, S&P or Fitch, or all of them,
as the case may be. 

  
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 “Rating Event” means the rating on the Notes is lowered by at least two of
the three Rating Agencies and the Notes are rated below an Investment Grade Rating by at least two of the three Rating Agencies, in any case on any day during the period (which period will be extended so long as the rating of the Notes is under
publicly announced consideration for a possible downgrade by any of the Rating Agencies) commencing 60 days prior to the earlier of (i) the first public notice of the occurrence of a Change of Control or (ii) the first public notice of the
Company’s intention to effect a Change of Control and ending 60 days following consummation of such Change of Control. 

“S&P” means Standard & Poor’s Rating Services, a division of S&P Global Inc., and its successors. 

“Voting Stock” means, with respect to any specified “Person” (as that term is used in Section 13(d)(3) of the
Exchange Act) as of any date, the capital stock of that person that is at the time entitled to vote generally in the election of the board of directors of that person. 

(g) The Notes shall be issuable in minimum denominations equal to two thousand U.S. dollars ($2,000) or integral multiples of one thousand U.S. dollars
($1,000) in excess thereof. 
 (h) The Trustee shall also be the security registrar and paying agent for the Notes. 

(i) Payments of the principal of and interest on the Notes shall be made in U.S. dollars, and the Notes shall be denominated in U.S. dollars. 

(j) The Notes shall constitute senior unsecured obligations of the Company. 

(k) The Notes shall be issued as a Global Security and The Depository Trust Company, New York, New York shall be the initial Depository. The Notes are not
convertible into shares of common stock or other securities of the Company. 
 Section 1.02. Limitation on Liens 

(a) So long as any of the Notes remain outstanding, neither the Company nor any of the Company’s domestic wholly owned subsidiaries will create or incur
any mortgage, pledge, security interest or lien (each, a “Lien”) on any Principal Property, whether now owned or hereafter acquired, in order to secure any Indebtedness, without effectively providing that the Notes shall be secured
by a lien ranking equal to and ratably with (or, at the Company’s option, senior to) such secured Indebtedness until such time as such Indebtedness is no longer secured by such Lien, except that the foregoing restriction shall not apply to:

 (i) Liens existing on the date hereof; 

  
 9 

 (ii) Liens created or incurred after the date hereof created in favor of the holders of the
Notes; 
 (iii) Liens in favor of the Company or one of the Company’s subsidiaries; 

(iv) (A) Liens given to secure (or to secure Indebtedness incurred or guaranteed by the Company or any of its subsidiaries for the purpose
of financing) the payment of all or any portion of the purchase price for the acquisition (including acquisition through merger or consolidation or the acquisition of a Person directly or indirectly owning such property) of any replacement for the
Principal Property, including capital lease or purchase money transactions in connection with any such acquisition, or all or any portion of the cost of refurbishment, improvement, expansion, renovation, development or construction of any Principal
Property; provided that with respect to this clause (A), the Liens shall be given prior to, at the time of or within 12 months after such acquisition, or completion of such refurbishment, improvement, expansion, renovation, development or
construction, or the full operation of such Principal Property, whichever is latest, and shall attach solely to such Principal Property (including any refurbishments, improvements, expansions, renovations, development or construction thereof or then
or thereafter placed thereon) and any proceeds thereof; and (B) Liens existing on all or any portion of any replacement for the Principal Property at the time of acquisition thereof (including acquisition through merger or consolidation or the
acquisition of a Person then directly or indirectly owning such property) whether or not such existing Liens were given to secure (or to secure Indebtedness incurred or guaranteed by the Company or any of its subsidiaries for the purpose of
financing) the payment of the purchase price of such property; 
 (v) Liens on any Principal Property in favor of the United States of
America or any state thereof, or in favor of any other country, or any political subdivision, department, agency or instrumentality thereof to secure progress or other payments pursuant to any contract or statute or to secure Indebtedness incurred
or guaranteed for the purpose of financing all or any portion of the cost of acquiring, refurbishing, improving, expanding, renovating, developing or constructing such Principal Property, including Liens incurred in connection with pollution
control, industrial revenue or similar financing; 
 (vi) certain statutory or legislative Liens or other similar Liens (including pledges,
deposits, carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law) arising in the ordinary course of the Company’s or any of its subsidiary’s business, or certain Liens
arising out of government contracts; 
 (vii) Liens in connection with legal proceedings, including certain Liens arising out of judgments or
awards; 
 (viii) Liens for certain taxes or assessments, landlord’s Liens and Liens and charges incidental to the conduct of the
business or the ownership of the Company’s assets or those of any of its subsidiaries; 

  
 10 

 (ix) Liens incurred in connection with an acquisition of assets or a project financed on a non-recourse basis; 
 (x) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; 

(xi) easements, zoning restrictions, rights-of-way and similar
encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of
the Company’s business; 
 (xii) Liens existing on any property or asset prior to the acquisition thereof by the Company or any of its
subsidiaries or existing on any property or asset of any Person that becomes a subsidiary after the date hereof prior to the time such Person becomes a subsidiary; provided that (i) such Lien is not created in contemplation of or in connection
with such acquisition or such Person becoming a subsidiary, as the case may be, (ii) such Lien shall not apply to any other property or assets of the Company or any of its subsidiaries and (iii) such Lien shall secure only those
obligations which it secures on the date of such acquisition or the date such Person becomes a subsidiary, as the case may be, and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; and 

(xiii) Liens which are incurred to extend, renew, substitute, refinance, refund or replace (and successive extensions, renewals, substitutions,
refinancings, refundings or replacements) any Lien, or any Indebtedness which is secured by any Lien (including any premium required to be paid and costs and expenses incurred in connection with such extensions, renewals, substitutions,
refinancings, refundings or replacements), permitted to be created or incurred under the Indenture. 
 (b) Notwithstanding the foregoing, the Company or any
of its subsidiaries may, without equally and ratably securing the Notes, create or incur Liens which would otherwise be subject to the restrictions set forth in the preceding paragraph, if after giving effect thereto, Aggregate Debt does not exceed
20% of the Company’s Consolidated Net Worth on a consolidated basis calculated as of the date of the creation or incurrence of the Lien. 
 (c) As used
herein: 
 “Aggregate Debt” means, as of the date of determination, the aggregate principal amount of the Company’s
and its domestic wholly owned subsidiaries’ Indebtedness incurred after the date hereof and secured by Liens not permitted by the first paragraph in Section 1.02(a). 

“Consolidated Net Worth” means, as of any date of determination, shareholders’ equity as reflected on the Company’s
most recent consolidated balance sheet prepared in accordance with GAAP. 

  
 11 

 “GAAP” means accounting principles generally accepted in the United States
of America, which are in effect as of the date of application thereof. 
 “Indebtedness” of any specified Person means any
indebtedness in respect of borrowed money. 
 “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 Property” means the Company’s (1) principal offices in Roseland, New Jersey, or any replacement thereof
and (2) each of the Company’s domestic processing/print center buildings, other operational offices and sales offices unless, with respect to this clause (2), the Board of Directors has determined in good faith that such center or office
is not of material importance to the total business conducted by the Company and its wholly owned subsidiaries, taken as a whole. 
 Section 1.03.
Form of Note. 
 The form of the Notes is attached hereto as Exhibit A. 

Section 1.04. Additional 2028 Notes. 

Subject to the terms and conditions contained herein, the Company may issue additional notes (the “Additional 2028 Notes”)
having the same ranking and the same interest rate, maturity and other terms as the 2028 Original Notes (except as otherwise described in the form of the Notes), without the consent of the holders of the 2028 Original Notes then Outstanding. Any
such Additional 2028 Notes will be a part of the series having the same terms as the 2028 Original Notes. The aggregate principal amount of the Additional 2028 Notes, if any, shall be unlimited. The 2028 Original Notes and the Additional 2028 Notes,
if any, shall constitute one series for all purposes under this Second Supplemental Indenture, including, without limitation, amendments, waivers and redemptions, provided that, if any Additional 2028 Notes are not fungible for U.S. federal
income tax purposes with the 2028 Original Notes, such Additional 2028 Notes shall trade under a separate CUSIP number. 
 ARTICLE 2 

MISCELLANEOUS 
 Section 2.01.
Definitions. 
 Capitalized terms used but not defined in this Second Supplemental Indenture shall have the meanings ascribed thereto
in the Base Indenture. 
 Section 2.02. Confirmation of Indenture. 

The Base Indenture, as supplemented and amended by this Second Supplemental Indenture, is in all respects ratified and confirmed, and the Base
Indenture, this Second Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one and the same instrument. 

  
 12 

 Section 2.03. Concerning the Trustee. 

The Trustee assumes no duties, responsibilities or liabilities by reason of this Second Supplemental Indenture other than as set forth in the
Base Indenture and, in carrying out its responsibilities hereunder, shall have all of the rights, protections and immunities which it possesses under the Base Indenture. The Trustee makes no representations as to the validity or sufficiency of this
Second Supplemental Indenture. The recitals herein are deemed to be those of the Company and not of the Trustee. 
 Section 2.04. Governing Law.

 Each of this Second Supplemental Indenture, the Indenture and the Notes shall be deemed to be a contract made under the internal laws of
the State of New York, and for all purposes shall be construed in accordance with the laws of said State. 
 Section 2.05. Separability. 

In case any provision in this Second Supplemental Indenture shall for any reason be held to 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 2.06. Counterparts.

 This Second Supplemental Indenture may be executed in any number of counterparts each of which shall be an original, but such counterparts
shall together constitute but one and the same instrument. 
 Section 2.07. Electronic Transmission, Electronic Signatures. 

The Trustee shall not have any duty to confirm that the person sending any notice, instruction or other communication (a “Notice”) by
electronic transmission (including by e-mail, facsimile transmission, web portal or other electronic methods) is, in fact, a person authorized to do so. Electronic signatures believed by the Trustee to comply
with the ESIGN Act of 2000 or other applicable law (including electronic images of handwritten signatures and digital signatures provided by DocuSign, Orbit, Adobe Sign or any other digital signature provider acceptable to the Trustee) shall be
deemed original signatures for all purposes. Each other party assumes all risks arising out of the use of electronic signatures and electronic methods to send Notices to the Trustee, including without limitation the risk of the Trustee acting on an
unauthorized Notice, and the risk of interception or misuse by third parties. Notwithstanding the foregoing, the Trustee may in any instance and in its sole discretion require that an original document bearing a manual signature be delivered to the
Trustee in lieu of, or in addition to, any such electronic Notice. 

  
 13 

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

			
	AUTOMATIC DATA PROCESSING, INC.
		
	By:	 	 /s/ Michael C. Eberhard

		 	Name: Michael C. Eberhard
		 	Title:   Vice President and Treasurer

 [Signature Page to Supplemental Indenture] 

 
			
	 U.S. BANK NATIONAL
 ASSOCIATION, as
Trustee

		
	By:	 	 /s/ Annette Marsula

		 	Name: Annette Marsula
		 	Title:   Vice President

 [Signature Page to Supplemental Indenture] 

 Exhibit A 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF 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. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM IN ACCORDANCE WITH THE
PROVISIONS OF THE INDENTURE AND THE TERMS OF THE SECURITIES AND EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.11 OF THE BASE INDENTURE, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR
ANOTHER NOMINEE OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
  

			
	Certificate No. [ ]	  	$[                 ]
	CUSIP No. [ ]	  	
	ISIN No. [ ]	  	

 AUTOMATIC DATA PROCESSING, INC. 

1.700% Senior Notes due 2028 

AUTOMATIC DATA PROCESSING, INC., a Delaware corporation (the “Company”, which term includes any successor corporation under
the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or its registered assigns, the principal sum of [ ] dollars ($[ ]) (which aggregate principal amount may from time to time be increased or
decreased to such other aggregate principal amounts by adjustments made on the Schedule of Increases or Decreases in Global Security attached hereto) on May 15, 2028 and to pay interest on said principal sum from May 14, 2021 or from the
most recent interest payment date (each such date, an “Interest Payment Date”) to which interest has been paid or duly provided for semiannually on May 15 and November 15 of each year commencing November 15, 2021 at
the rate of 1.700% per annum until the principal hereof shall have become due and payable, and on any overdue principal and premium, if any, and (without duplication and to the extent that payment of such interest is enforceable under applicable
law) on any overdue installment of interest at the same rate per annum. The amount of interest payable on any Interest Payment Date shall be computed on the basis of a 360-day year of twelve 30-day months. In the event that any date on which interest is payable on this Note is not a Business Day, then payment of interest payable on such date will be made on the next succeeding day which is a Business
Day (and without any interest or other payment in respect of any such delay). The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture (hereafter defined), be paid
to the person in whose name this Note (or one or more Predecessor Securities, as defined in said Indenture) is registered at the close of business on the regular record date for such interest installment which shall be the May 1 or
November 1 preceding such Interest Payment Date. Any such interest installment not punctually paid or duly provided for (as defined in the Indenture, the “Defaulted Interest”) shall forthwith cease to be payable to the
registered holders on such regular record date, and may be paid to the person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a special record date to be fixed by the Trustee for the payment
of such Defaulted Interest, which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment, and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment or at any time in any other
lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. The principal of (and premium,
if any) and the interest on this Note shall be payable at the office or agency of the Trustee maintained for that purpose in any coin or currency of the United States of America which at the time of payment is legal tender for payment of public and
private debts; provided, however , that payment of interest may be made at the option of the Company by check mailed to the registered holder at such address as shall appear in the Security Register. Notwithstanding the foregoing, so
long as the registered holder of this Note is Cede & Co., the payment of the principal of (and premium, if any) and interest on this Note will be made at such place and to such account as may be designated by DTC. 

  
 A-1 

 The indebtedness evidenced by this Note is, to the extent provided in the Indenture, senior
and unsecured and will rank in right of payment on parity with all other senior unsecured obligations of the Company. 
 This Note shall not
be entitled to any benefit under the Indenture hereinafter referred to or be valid until the Certificate of Authentication hereon shall have been signed manually by or on behalf of the Trustee. 

The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have the same effect
as though fully set forth at this place. 

  
 A-2 

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

Dated: May 14, 2021 
  

			
	AUTOMATIC DATA PROCESSING, INC.
		
	By:	 	
                 

		 	Name:
		 	Title:

  
 A-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Notes of the series of Notes described in the within-mentioned Indenture. 

 

			
	U.S BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	
                 

		 	Name:
		 	Title:
	
	Dated: May 14, 2021

  
 A-4 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby 

sells, assigns and transfers to 
  

(Insert Social Security number or other identifying number of assignee) 

 
 (Please print or typewrite name and
address, including zip code of assignee) 
  
 the
within Note of Automatic Data Processing, Inc. and hereby does irrevocably constitute and appoint 
  

 
 Attorney to transfer said Note on the books of the
within-named Company with full power of substitution in the premises. 
  

									
	Dated::	 	              
	 		 		 	              

		 	              
	 		 		 	

 Signature(s) must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and
credit unions) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15. 

NOTICE: The signature to this assignment must correspond with the name as it appears on the first page of the within Note in every particular, without
alteration or enlargement or any change whatever. 

  
 A-5 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

AUTOMATIC DATA PROCESSING, INC. 

1.700% Senior Notes due 2028 
 The initial
aggregate principal amount of this Global Security is $[             ]. The following increases or decreases in this Global Security have been made: 

No: 
  

							
	 Date
	  	Principal Amount of this
Global Security	  	Notation Explaining
Principal Amount Recorded	  	Signature of authorized
signatory of Trustee or
Depositary

  
 A-6 

 AUTOMATIC DATA PROCESSING, INC. 

1.700% Senior Notes due 2028 

This Note is one of a duly authorized series of Securities (referred to in the Base Indenture (hereafter defined)), of the Company (herein
sometimes referred to as the “Notes”), all such Securities issued or to be issued in one or more series under and pursuant to an indenture (the “Base Indenture”), dated as of August 13, 2020 between the Company
and U.S. Bank National Association, as Trustee (the “Trustee”), as supplemented in the case of the Notes by the Second Supplemental Indenture, dated as of May 14, 2021, between the Company and the Trustee (the Base Indenture,
as so supplemented, the “Indenture”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the
Trustee, the Company and the holders of the Notes. This series of Notes is initially limited in aggregate principal amount as specified in said Second Supplemental Indenture. This series of Notes and any Additional Notes of this series shall
constitute one series for all purposes under the Indenture, including without limitation, amendments, waivers and redemptions. The terms and conditions of this series of Notes and any Additional Notes of this series (other than the issue price, the
date of issuance, the payment of interest accruing prior to the issue date of the Additional Notes and the first payment of interest following such issue date) shall be the same and this series of Notes and any Additional Notes of this series shall
bear the same CUSIP number, provided that, if any Additional Notes are not fungible for U.S. federal income tax purposes with this series of Notes, such Additional Notes shall trade under a separate CUSIP number. 

The Notes may be redeemed in whole at any time or in part from time to time, at the option of the Company. The redemption price (the
“Redemption Price”) of the Notes to be redeemed shall be calculated as follows, plus, in each case, accrued and unpaid interest on the principal amount being redeemed to but excluding the redemption date: 

(a) If the redemption date is prior to March 15, 2028 (the “Par Call Date”), the Notes to be redeemed may be redeemed by
the Company at a Redemption Price equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed and (2) the sum of the present values of the remaining scheduled payments (through the Par Call Date assuming for such
purpose that such Notes to be redeemed matured on the Par Call Date)of principal of and interest on the Notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury Rate plus 10 basis points. 

(b) If the redemption date is on or after the Par Call Date, the Notes to be redeemed may be redeemed by the Company at a Redemption Price
equal to 100% of the principal amount of the Notes to be redeemed. 

  
 A-7 

 In case the Company shall desire to exercise such right to redeem all or, as the case may
be, a portion of the Notes, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Notes to be redeemed by electronically delivering or mailing, first class postage prepaid, a notice of such redemption not
less than 15 days and not more than 60 days before the date fixed for redemption to such holders at their last addresses as they shall appear upon the Security Register. Any notice that is mailed in the manner herein provided shall be conclusively
presumed to have been duly given, whether or not the registered holder received the notice. In any case, failure duly to give such notice to the holder of any Note designated for redemption in whole or in part, or any defect in the notice, shall not
affect the validity of the proceedings for the redemption of any other Note. 
 Each such notice of redemption shall specify the amount of
Notes to be redeemed, the date fixed for redemption, the CUSIP or ISIN number(s) of such Notes and the applicable Redemption Price at which the Notes to be redeemed are to be redeemed, and shall state that payment of the Redemption Price of such
Notes to be redeemed will be made at the office or agency of the Company in the Borough of Manhattan, the City and State of New York, upon presentation and surrender of such Notes, that interest accrued to the date fixed for redemption will be paid
as specified in said notice and, that from and after said date interest will cease to accrue; except that interest shall continue to accrue on any such Note or portion thereof with respect to which the Company defaults in the payment of such
Redemption Price and accrued interest. If less than all the Notes are to be redeemed, the notice to the holders of the Notes to be redeemed in part shall specify the particular Notes to be redeemed. In case any Note is to be redeemed in part only,
the notice that relates to such Note shall state the portion of the principal amount thereof to be redeemed, and shall state that on and after the redemption date, upon surrender of such security, a new Note in principal amount equal to the
unredeemed portion thereof will be issued. 
 If the Trustee is to provide notice to the holders of the Notes as described herein, for a
partial or full redemption, the Company shall give the Trustee at least 30 days’ notice in advance of the date fixed for redemption as to the aggregate principal amount of Notes to be redeemed, and thereupon, in the case of a partial
redemption, the Trustee shall select, by lot or in such other manner as it shall deem appropriate (in accordance with the depositary’s customary procedures) and that may provide for the selection of a portion or portions (equal to two thousand
U.S. dollars ($2,000) or integral multiples of one thousand U.S. dollars ($1,000) in excess thereof) of the principal amount of such Notes of a denomination larger than $2,000, the Notes to be redeemed and shall thereafter promptly notify the
Company in writing of the numbers of the Notes to be redeemed, in whole or in part. 
 The Company may, if and whenever it shall so elect,
by delivery of instructions signed on its behalf by an Authorized Officer, instruct the Trustee or any paying agent to call all or any part of the Notes for redemption and to give notice of redemption in the manner set forth in this Note, such
notice to be in the name of the Company or its own name as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or cause to
be delivered to, or permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or such paying agent
to give any notice that may be required under the provisions stated herein. 

  
 A-8 

 Subject to Section 2.11 of the Base Indenture with respect to any Global Security, the
Company shall not be required (i) to issue, register the transfer of or exchange any Notes during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of the Notes selected for redemption
and ending at the close of business on the day of such mailing, or (ii) to register the transfer of or exchange any Notes so selected for redemption in whole or in part, except the unredeemed portion of any such Notes being redeemed in part.

 If the giving of notice of redemption shall have been completed as above provided, the Notes or portions of the Notes to be redeemed
specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable Redemption Price, and interest on such Notes shall cease to accrue on and after the date fixed for redemption, except that
interest shall continue to accrue on any such Notes or portion thereof with respect to which the Company defaults in the payment of such Redemption Price and accrued interest. 

The Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than a majority in
aggregate principal amount of the Securities of all of the series at the time Outstanding affected thereby (all such series voting together as a single class), as defined in the Indenture, to execute supplemental indentures for the purpose of adding
any provisions to or changing in any manner or eliminating any of the provisions of the Base Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of the Notes; provided, however, that no such
supplemental indenture shall, without the consent of the holders of each Security then Outstanding and affected thereby (i) extend the fixed maturity of any Securities, including the Notes, or reduce the principal amount thereof, or reduce the
rate or extend the time of payment of interest thereon, or reduce any premium payable upon the redemption thereof, or (ii) reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such supplemental
indenture. The Indenture also contains provisions permitting the holders of a majority in aggregate principal amount of the Securities of all series at the time Outstanding affected thereby (all such series voting together as a single class), to
waive any past default in the performance of any of the covenants contained in the Base Indenture, or established pursuant to the Base Indenture with respect to such series, and its consequences, except a default in the payment of the principal of
or premium, if any, or interest on any Securities, including the Notes, in which case, each such affected series shall vote as a separate class. Any such consent or waiver by the registered holder of this Note (unless revoked as provided in the Base
Indenture) shall be conclusive and binding upon such holder and upon all future holders and owners of this Note and of any Note issued in exchange herefor or in place hereof (whether by registration of transfer or otherwise), irrespective of whether
or not any notation of such consent or waiver is made upon this Note. 

  
 A-9 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and premium, if any, and interest on this Note at the time and place and at the rate and in the money herein prescribed. 

The Company is subject to certain covenants contained in the Indenture with respect to, and for the benefit of the holders of, the Notes. The
Trustee shall not be obligated to monitor or confirm, on a continuing basis or otherwise, the Company’s compliance with the covenants contained in the Indenture or with respect to reports or other documents filed under the Indenture;
provided, however, that nothing herein shall relieve the Trustee of any obligations to monitor the Company’s timely delivery of all reports and certificates required under Section 5.01 and Section 5.03 of the Base
Indenture and to fulfill its obligations under Article VII of the Indenture. If an Event of Default as defined in the Indenture with respect to the Notes shall occur and be continuing, the principal of the Notes may be declared due and payable in
the manner and with the effect provided in the Indenture. 
 As provided in and subject to the provisions of the Indenture, the holder of
this Note shall not have the right to institute any action, suit or proceeding with respect to the Indenture or for the appointment of a receiver or Trustee or for any other remedy thereunder, unless such holder shall have previously given the
Trustee written notice of a continuing Event of Default with respect to the Notes, the holders of not less than 25% in principal amount of the Outstanding Notes (in the case of an Event of Default described in clauses (a)(i) or (a)(ii) of
Section 6.01 of the Base Indenture, each such series voting as a separate class, and in the case of an Event of Default described in clauses (a)(iii), (a)(iv), (a)(v) or (a)(vi) of Section 6.01 of the Base Indenture, all affected series
voting together as a single class) shall have made written request to the Trustee to institute such action, suit or proceedings in respect of such Event of Default as Trustee and offered to the Trustee such indemnity reasonably satisfactory to it
against the costs, expenses and liabilities to be incurred therein or thereby and the Trustee shall have failed to institute any such action, suit or proceeding for 60 days after receipt of such notice, request and offer of indemnity and the holders
of a majority in principal amount of the Notes at the time Outstanding (voting as provided in Section 6.04(b) of the Base Indenture) have not given the Trustee a direction inconsistent with such request. The foregoing shall not apply to any
suit instituted by the holder of this Note for the enforcement of any payment of principal hereof or any interest on or after the respective due dates expressed herein. 

As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable by the registered holder hereof
on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, the City and State of New York accompanied by a written instrument or instruments
of transfer in form satisfactory to the Company or the Trustee duly executed by the registered holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate
principal amount and series will be issued to the designated transferee or transferees. No service charge will be made for any such transfer, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in relation thereto. 

  
 A-10 

 Prior to due presentment for registration of transfer of this Note, the Company, the
Trustee, any paying agent and any Security Registrar may deem and treat the registered holder hereof as the absolute owner hereof (whether or not this Note shall be overdue and notwithstanding any notice of ownership or writing hereon made by anyone
other than the Security Registrar) for the purpose of receiving payment of or on account of the principal hereof and premium, if any, and interest due hereon and for all other purposes, and neither the Company nor the Trustee nor any paying agent
nor any Note Registrar shall be affected by any notice to the contrary. 
 No recourse shall be had for the payment of the principal of or
the interest on this Note, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of
any predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the
consideration for the issuance hereof, expressly waived and released. 
 The Notes are issuable only in registered form without coupons in
authorized denominations. As provided in the Indenture and subject to certain limitations herein and therein set forth, Notes so issued are exchangeable for a like aggregate principal amount of Notes of a different authorized denomination, as
requested by the holder surrendering the same. 
 All terms used in this Note which are defined in the Indenture shall have the meanings
assigned to them in the Indenture. 
 EACH OF THE SECOND SUPPLEMENTAL INDENTURE, THE INDENTURE AND THE NOTES, INCLUDING THIS NOTE, SHALL BE
DEEMED TO BE A CONTRACT MADE UNDER THE INTERNAL LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF SAID STATE. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused
“CUSIP” numbers to be printed on the Notes as a convenience to the holders of the Notes. No representation is made as to the correctness or accuracy of such CUSIP numbers as printed on the Notes, and reliance may be placed only on the
other identification numbers printed hereon. 
 Unless the certificate of authentication hereon has been executed by or on behalf of the
Trustee by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purposes. 

  
 A-11

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