Document:

EX-4.4

 Exhibit 4.4 

 
  

THE WENDY’S COMPANY 
 and 

U.S. BANK NATIONAL ASSOCIATION, 

Trustee 
 INDENTURE 

Dated as of
                    ,         

 
  

Providing for Issuance of Subordinated Debt Securities in Series 

 
  

 TABLE OF CONTENTS 

 

							
	ARTICLE I Definitions and Other Provisions of General Application		 	1	  
			
	 Section 1.01
		 Definitions
		 	1	  
	 Section 1.02
		 Compliance Certificates and Opinions
		 	10	  
	 Section 1.03
		 Form of Documents Delivered to Trustee
		 	11	  
	 Section 1.04
		 Acts of Securityholders
		 	11	  
	 Section 1.05
		 Notices, etc., to Trustee and Company
		 	13	  
	 Section 1.06
		 Notices to Securityholders; Waiver
		 	13	  
	 Section 1.07
		 Conflict with Trust Indenture Act
		 	14	  
	 Section 1.08
		 Effect of Headings and Table of Contents
		 	14	  
	 Section 1.09
		 Successors and Assigns
		 	14	  
	 Section 1.10
		 Separability Clause
		 	14	  
	 Section 1.11
		 Benefits of Indenture
		 	14	  
	 Section 1.12
		 Governing Law
		 	14	  
	 Section 1.13
		 Counterparts
		 	14	  
	 Section 1.14
		 Judgment Currency
		 	14	  
		
	ARTICLE II Security Forms		 	15	  
			
	 Section 2.01
		 Forms Generally
		 	15	  
	 Section 2.02
		 Forms of Securities
		 	15	  
	 Section 2.03
		 Form of Trustee’s Certificate of Authentication
		 	16	  
	 Section 2.04
		 Securities Issuable in the Form of a Global Security
		 	16	  
		
	ARTICLE III The Securities		 	18	  
			
	 Section 3.01
		 General Title; General Limitations; Issuable in Series; Terms of Particular Series
		 	18	  
	 Section 3.02
		 Denominations
		 	21	  
	 Section 3.03
		 Execution, Authentication and Delivery and Dating
		 	21	  
	 Section 3.04
		 Temporary Securities
		 	23	  
	 Section 3.05
		 Registration, Transfer and Exchange
		 	23	  
	 Section 3.06
		 Mutilated, Destroyed, Lost and Stolen Securities
		 	24	  
	 Section 3.07
		 Payment of Interest; Interest Rights Preserved
		 	25	  
	 Section 3.08
		 Persons Deemed Owners
		 	26	  
	 Section 3.09
		 Cancellation
		 	26	  
	 Section 3.10
		 Computation of Interest
		 	27	  
	 Section 3.11
		 Delayed Issuance of Securities
		 	27	  
		
	ARTICLE IV Satisfaction and Discharge; Defeasance		 	27	  
			
	 Section 4.01
		 Satisfaction and Discharge of Indenture
		 	27	  
	 Section 4.02
		 Application of Trust Money
		 	29	  
	 Section 4.03
		 Defeasance Upon Deposit of Funds or Government Obligations
		 	29	  
	 Section 4.04
		 Reinstatement
		 	31	  
		
	ARTICLE V Remedies		 	32	  
			
	 Section 5.01
		 Events of Default
		 	32	  

  
 i 

							
	 Section 5.02
		 Acceleration of Maturity; Rescission and Annulment
		 	33	  
	 Section 5.03
		 Collection of Indebtedness and Suits for Enforcement by Trustee
		 	35	  
	 Section 5.04
		 Trustee May File Proofs of Claim
		 	36	  
	 Section 5.05
		 Trustee May Enforce Claims Without Possession of Securities
		 	36	  
	 Section 5.06
		 Application of Money Collected
		 	37	  
	 Section 5.07
		 Limitation on Suits
		 	37	  
	 Section 5.08
		 Unconditional Right of Securityholders to Receive Principal, Premium and Interest
		 	38	  
	 Section 5.09
		 Restoration of Rights and Remedies
		 	38	  
	 Section 5.10
		 Rights and Remedies Cumulative
		 	38	  
	 Section 5.11
		 Delay or Omission Not Waiver
		 	38	  
	 Section 5.12
		 Control by Securityholders
		 	38	  
	 Section 5.13
		 Waiver of Past Defaults
		 	39	  
	 Section 5.14
		 Undertaking for Costs
		 	39	  
	 Section 5.15
		 Waiver of Stay or Extension Laws
		 	39	  
		
	ARTICLE VI The Trustee		 	40	  
			
	 Section 6.01
		 Certain Duties and Responsibilities
		 	40	  
	 Section 6.02
		 Notice of Defaults
		 	41	  
	 Section 6.03
		 Certain Rights of Trustee
		 	41	  
	 Section 6.04
		 Not Responsible for Recitals or Issuance of Securities
		 	43	  
	 Section 6.05
		 May Hold Securities
		 	43	  
	 Section 6.06
		 Money Held in Trust
		 	43	  
	 Section 6.07
		 Compensation and Reimbursement
		 	43	  
	 Section 6.08
		 Disqualification; Conflicting Interests
		 	44	  
	 Section 6.09
		 Corporate Trustee Required; Eligibility
		 	44	  
	 Section 6.10
		 Resignation and Removal
		 	45	  
	 Section 6.11
		 Acceptance of Appointment by Successor
		 	46	  
	 Section 6.12
		 Merger, Conversion, Consolidation or Succession to Business
		 	47	  
	 Section 6.13
		 Preferential Collection of Claims Against Company
		 	47	  
	 Section 6.14
		 Appointment of Authenticating Agent
		 	47	  
		
	ARTICLE VII Securityholders’ Lists and Reports by Trustee and Company		 	49	  
			
	 Section 7.01
		 Company to Furnish Trustee Names and Addresses of Securityholders
		 	49	  
	 Section 7.02
		 Preservation of Information; Communications to Securityholders
		 	49	  
	 Section 7.03
		 Reports by Trustee
		 	50	  
	 Section 7.04
		 Reports by Company
		 	51	  
		
	ARTICLE VIII Consolidation, Merger, Conveyance or Transfer		 	51	  
			
	 Section 8.01
		 Consolidation, Merger, Conveyance or Transfer on Certain Terms
		 	51	  
	 Section 8.02
		 Successor Person Substituted
		 	52	  
		
	ARTICLE IX Supplemental Indentures		 	52	  
			
	 Section 9.01
		 Supplemental Indentures Without Consent of Securityholders
		 	52	  
	 Section 9.02
		 Supplemental Indentures with Consent of Securityholders
		 	54	  
	 Section 9.03
		 Subordination Unimpaired
		 	56	  

  
 ii 

							
	 Section 9.04
		 Execution of Supplemental Indentures
		 	56	  
	 Section 9.05
		 Effect of Supplemental Indentures
		 	56	  
	 Section 9.06
		 Conformity with Trust Indenture Act
		 	56	  
	 Section 9.07
		 Reference in Securities to Supplemental Indentures
		 	56	  
		
	ARTICLE X Covenants		 	56	  
			
	 Section 10.01
		 Payment of Principal, Premium and Interest
		 	56	  
	 Section 10.02
		 Maintenance of Office or Agency
		 	56	  
	 Section 10.03
		 Money for Security Payments to Be Held in Trust
		 	57	  
	 Section 10.04
		 Statement as to Compliance
		 	58	  
	 Section 10.05
		 Legal Existence
		 	59	  
	 Section 10.06
		 Waiver of Certain Covenants
		 	59	  
		
	ARTICLE XI Redemption of Securities		 	59	  
			
	 Section 11.01
		 Applicability of Article
		 	59	  
	 Section 11.02
		 Election to Redeem; Notice to Trustee
		 	59	  
	 Section 11.03
		 Selection by Trustee of Securities to Be Redeemed
		 	60	  
	 Section 11.04
		 Notice of Redemption
		 	61	  
	 Section 11.05
		 Deposit of Redemption Price
		 	62	  
	 Section 11.06
		 Securities Payable on Redemption Date
		 	62	  
	 Section 11.07
		 Securities Redeemed in Part
		 	62	  
	 Section 11.08
		 Provisions with Respect to Any Sinking Funds
		 	62	  
	 Section 11.09
		 Rescission of Redemption
		 	64	  
		
	ARTICLE XII Subordination of Securities		 	64	  
			
	 Section 12.01
		 Agreement of Subordination
		 	64	  
	 Section 12.02
		 Payments to Securityholders
		 	65	  
	 Section 12.03
		 Subrogation of Securities
		 	66	  
	 Section 12.04
		 Authorization by Securityholders
		 	67	  
	 Section 12.05
		 Notice to Trustee
		 	67	  
	 Section 12.06
		 Trustee’s Relation to Senior Indebtedness
		 	68	  
	 Section 12.07
		 No Impairment of Subordination
		 	68	  
	 Section 12.08
		 Rights of Trustee
		 	69	  
	 Section 12.09
		 Article XII Applicable to Paying Agents
		 	69	  
		
	ARTICLE XIII Conversion		 	69	  
			
	 Section 13.01
		 Conversion Privilege
		 	69	  
	 Section 13.02
		 Conversion Procedure; Rescission of Conversion; Conversion Price; Fractional Shares
		 	69	  
	 Section 13.03
		 Adjustment of Conversion Price for Common Stock or Marketable Securities
		 	71	  
	 Section 13.04
		 Consolidation or Merger of the Company
		 	75	  
	 Section 13.05
		 Notice of Adjustment
		 	76	  
	 Section 13.06
		 Notice in Certain Events
		 	76	  
	 Section 13.07
		 Company to Reserve Stock or other Marketable Securities; Registration; Listing
		 	77	  
	 Section 13.08
		 Taxes on Conversion
		 	78	  

  
 iii 

							
	 Section 13.09
		 Conversion After Record Date
		 	78	  
	 Section 13.10
		 Corporate Action Regarding Par Value of Common Stock
		 	78	  
	 Section 13.11
		 Company Determination Final
		 	78	  
	 Section 13.12
		 Trustee’s Disclaimer
		 	78	  
		
	ARTICLE XIV Guarantees		 	79	  
			
	 Section 14.01
		 Guarantees
		 	79	  

  
 iv 

 Table Showing Reflection in Indenture of Certain Provisions 

of Trust Indenture Act of 1939, 
 as
amended by the Trust Indenture Reform Act of 1990 
  

 
 Reflected in
Indenture 
  

					
	Trust Indenture Act Section		Indenture Section
			
	§310		(a)(1)		6.09
			(a)(2)		6.09
			(a)(3)		Not Applicable
			(a)(4)		Not Applicable
			(a)(5)		6.09
			(b)		6.08
			
	§311		(a)		6.13
			(b)		6.13
			(b)(2)		7.03(a)
					7.03(b)
			
	§312		(a)		7.01
					7.02(a)
			(b)		7.02(b)
			(c)		7.02(c)
			
	§313		(a)		7.03(a)
			(b)		7.03(b)
			(c)		7.03(a)
					7.03(b)
			(d)		7.03(c)
			
	§314		(a)(1)		7.04
			(a)(2)		7.04
			(a)(3)		7.04
			(a)(4)		10.04
			(b)		Not Applicable
			(c)(1)		1.02
			(c)(2)		1.02
			(c)(3)		Not Applicable
			(d)		Not Applicable

  
 v 

					
			(e)		1.02
			
	§315		(a)		6.01(a)
			6.01(c)
			(b)		6.02
			7.03(a)
			(c)		6.01(b)
		
	Trust Indenture Act Section		Indenture Section
			
			(d)		6.01
			(d)(1)		6.01(a)
			(d)(2)		6.01(c)(2)
			(d)(3)		6.01(c)(3)
			(e)		5.14
			
	§316		(a)		1.01
			(a)(1)(A)		5.02
					5.12
			(a)(1)(B)		5.13
			(a)(2)		Not Applicable
			(b)		5.08
			(c)		1.04(d)
			
	§317		(a)(1)		5.03
			(a)(2)		5.04
			(b)		10.03
			
	§318		(a)		1.07

  
  

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

Section 318(c) of the Trust Indenture Act provides that the provisions of Sections 310 to and including 317 of the Trust Indenture Act are a part of
and govern every qualified indenture, whether or not physically contained therein. 

  
 vi 

 THIS INDENTURE between THE WENDY’S COMPANY, a Delaware corporation (hereinafter called the
“Company”) having its principal office at One Dave Thomas Blvd., Dublin, Ohio 43017, and U.S. BANK NATIONAL ASSOCIATION, as trustee (hereinafter called the “Trustee”), is made and entered into as of
                    ,. 
 Recitals of
the Company 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of its
debentures, notes, bonds or other evidences of indebtedness, in an unlimited aggregate principal amount, to be issued in one or more fully registered series. 

This Indenture is subject to the provisions of the Trust Indenture Act that are deemed to be incorporated into this Indenture and shall, to
the extent applicable, be governed by such provisions. 
 All things necessary to make this Indenture a valid agreement of the Company in
accordance with its terms have been done. 
 Agreements of the Parties 

To set forth or to provide for the establishment of the terms and conditions upon which the Securities are and are to be authenticated, issued
and delivered, and in consideration of the premises and the purchase of Securities by the Holders thereof, it is mutually agreed as follows, for the equal and proportionate benefit of all Holders of the Securities or of a series thereof, as the case
may be: 
 ARTICLE I 

Definitions and Other Provisions 

of General Application 

Section 1.01 Definitions. For all purposes of this Indenture and of any indenture supplemental hereto, except as otherwise expressly
provided or unless the context otherwise requires: 
  

	 	(1)	the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 

 

	 	(2)	all other terms used herein which are defined in the Trust Indenture Act or by Commission rule under the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them herein;

  

	 	(3)	all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP and, except as otherwise herein expressly provided, the term “generally accepted accounting
principles” with respect to any computation required or permitted hereunder shall mean such accounting principles and any accounting rules or interpretations promulgated by the Commission as are generally accepted in the United States of
America at the date of this Indenture; and 

	 	(4)	all references in this instrument to designated “Articles”, “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions of this instrument as originally
executed. The words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 

Certain terms, used principally in Article VI, are defined in that Article. 

“Act” when used with respect to any Securityholder, has the meaning specified in Section 1.04. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Authenticating Agent” means any Person authorized by the Company to authenticate Securities under Section 6.14. 

“Board of Directors” means (i) the board of directors of the Company, (ii) any duly authorized committee of such
board, (iii) any committee of officers of the Company or (iv) any officer of the Company acting, in the case of clauses (iii) or (iv), pursuant to authority granted by the board of directors of the Company or any committee of such
board. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or any Assistant Secretary of the
Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

“Business Day” means, with respect to any series of Securities, unless otherwise specified in a Board Resolution, in an
indenture supplemental hereto or an Officer’s Certificate with respect to a particular series of Securities, each day which is not a Saturday, Sunday or other day on which banking institutions in the pertinent Place or Places of Payment or the
city in which the Corporate Trust Office is located are authorized or required by law or executive order to be closed. 
 “Closing
Price” of the Common Stock or other Marketable Security, as the case may be, shall mean the last reported sale price of such stock or other Marketable Security (regular way) as shown on the Composite Tape of the NYSE (or, if such stock or
other Marketable Security is not listed or admitted to trading on the NYSE, on the principal national securities exchange on which such stock or other Marketable Security is listed or admitted to trading, including the NASDAQ), or, in case no such
sale takes place on such day, the average of the closing bid and asked prices on the NYSE (or, if such stock or other Marketable Security is 

  
 2 

 
not listed or admitted to trading on the NYSE, on the principal national securities exchange on which such stock or other Marketable Security is listed or admitted to trading, including the
NASDAQ), or if such stock or other Marketable Security is not so reported, the average of the closing bid and asked prices as furnished by any member of the Financial Industry Regulatory Authority, selected from time to time by the Company for that
purpose. 
 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the
Securities Exchange Act of 1934, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time.

 “Common Stock” shall mean the Common Stock, par value $0.001 per share, of the Company authorized at the date of this
Indenture as originally signed, or any other class of stock resulting from successive changes or reclassifications of such Common Stock, and in any such case including any shares thereof authorized after the date of this Indenture. 

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

“Company Request”, “Company Order” and “Company Consent” mean a written request, order or
consent, respectively, signed in the name of the Company by its Chairman of the Board, Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer, Treasurer, any Assistant Treasurer, Controller, any Assistant Controller,
General Counsel, Secretary, any Assistant Secretary or any Vice President, and delivered to the Trustee. 
 “Conversion
Agent” means any Person authorized by the Company to receive Securities to be converted into Common Stock or other Marketable Securities on behalf of the Company. The Company initially authorizes the Trustee to act as Conversion Agent for
the Securities on its behalf. The Company may at any time and from time to time authorize one or more Persons to act as Conversion Agent in addition to or in place of the Trustee with respect to any series of Securities issued under this Indenture.

 “Conversion Price” means, with respect to any series of Securities which are convertible into Common Stock or other
Marketable Securities, the price per share of Common Stock or the price per designated unit of other Marketable Security at which the Securities of such series are so convertible as set forth in the Board Resolution or indenture supplemental hereto
with respect to such series (or in any indenture supplemental hereto entered into pursuant to Section 9.01(9) with respect to such series), as the same may be adjusted from time to time in accordance with Section 13.03 (or such indenture
supplemental hereto). 
 “Converting Holder” shall have the meaning specified in Section 13.02(c) of this Indenture.

 “Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business
shall be principally administered, which office at the date hereof is located at U.S. Bank National Association, Global Corporate Trust Services, Two Midtown Plaza, 1349 West Peachtree Street, Suite 1050, Atlanta, Georgia 30309, Attn: Jack Ellerin.

  
 3 

 “Current Market Price” on any date shall mean the average of the daily Closing
Prices per share of Common Stock or of such other Marketable Securities for any 30 consecutive Trading Days selected by the Company prior to the day in question, which 30 consecutive Trading Day period shall not commence more than 45 Trading Days
prior to the day in question; provided that with respect to Section 13.03(3), the “Current Market Price” of the Common Stock or of such other Marketable Securities shall mean the average of the daily Closing Prices per share of Common
Stock or of such other Marketable Securities for the five consecutive Trading Days ending on the date of the distribution referred to in Section 13.03(3) (or if such date shall not be a Trading Day, on the Trading Day immediately preceding such
date). 
 “Defaulted Interest” has the meaning specified in Section 3.07. 

“Depository” means, unless otherwise specified by the Company pursuant to either Section 2.04 or 3.01, with respect to
Securities of any series issuable or issued as a Global Security, The Depository Trust Company, New York, New York, or any successor thereto registered as a clearing agency under the Securities Exchange Act of 1934, as amended, or other
applicable statute or regulation. 
 “Discharged” has the meaning specified in Section 4.03. 

“Event of Default” has the meaning specified in Article V. 

“Federal Bankruptcy Act” has the meaning specified in Section 5.01(5). 

“GAAP” means generally accepted accounting principles as such principles are in effect in the United States as of the date of
this Indenture. 
 “Global Security”, when used with respect to any series of Securities issued hereunder, means a Security
which is executed by the Company and authenticated and delivered by the Trustee to the Depository or pursuant to the Depository’s instruction, all in accordance with this Indenture and an indenture supplemental hereto, if any, or Board
Resolution and pursuant to a Company Request, which shall be registered in the name of the Depository or its nominee and which shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, all of the Outstanding
Securities of such series or any portion thereof, in either case having the same terms, including, without limitation, the same original issue date, date or dates on which principal is due, and interest rate or method of determining interest. 

“Guarantee” means the guarantees specified in Section 14.01(a). 

“Guarantor” means any Person who guarantees any series of Securities issued hereunder as specified in Section 14.01(a).

 “Holder”, when used with respect to any Security, means a Securityholder, which means a Person in whose name a security
is registered in the Security Register. 

  
 4 

 “Indenture” or “this Indenture” means this instrument as
originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of particular series of Securities
established as contemplated by Section 3.01. 
 “Interest”, when used with respect to an Original Issue Discount
Security which by its terms bears interest only after Maturity, means interest payable after Maturity. 
 “Interest Payment
Date”, when used with respect to any series of Securities, means the Stated Maturity of any installment of interest on those Securities. 

“Judgment Currency” has the meaning specified in Section 1.14. 

“Marketable Security” means any common stock, debt security or other security of a Person which is (or will, upon
distribution thereof, be) listed on the NYSE, the American Stock Exchange, NASDAQ or any other national securities exchange registered under Section 6 of the Securities Exchange Act of 1934, as amended, or approved for quotation in any system
of automated dissemination of quotations of securities prices in the United States or for which there is a recognized market maker or trading market. 

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

“NASDAQ” shall mean the NASDAQ Global Select Market, the NASDAQ Global Market or the NASDAQ Capital Market. 

“NYSE” shall mean the New York Stock Exchange, Inc. 

“Officers’ Certificate” means a certificate signed by the Chairman of the Board, the Chief Executive Officer, the
President, the Chief Operating Officer, the Chief Financial Officer or any Vice President of the Company, and by the Treasurer, any Assistant Treasurer, the Controller, any Assistant Controller, the General Counsel, the Secretary, any Assistant
Secretary or any authorized officer of the Company, and delivered to the Trustee. Wherever this Indenture requires that an Officers’ Certificate be signed also by a financial expert or an accountant or other expert, such financial expert,
accountant or other expert (except as otherwise expressly provided in this Indenture) may be in the employ of the Company, and shall be acceptable to the Trustee. 

“Opinion of Counsel” means a written opinion of counsel, who may (except as otherwise expressly provided in this Indenture)
be an employee of or of counsel to the Company, which is delivered to the Trustee. 
 “Original Issue Discount Security”
means (i) any Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof, and (ii) any other security which is issued with “original
issue discount” within the meaning of Section 1273(a) of the Internal Revenue Code of 1986, as amended, and the regulations thereunder. 

  
 5 

 “Outstanding”, when used with respect to the Securities or Securities of any
series, means, as of the date of determination, all such Securities theretofore authenticated and delivered under this Indenture, except: 
  

	 	(i)	such Securities theretofore canceled by the Trustee or delivered to the Trustee for cancellation; 

  

	 	(ii)	such Securities for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent in trust for the Holders of such Securities; provided that, if such
Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor reasonably satisfactory to the Trustee has been made; and 

 

	 	(iii)	such Securities in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, or which shall have been paid pursuant to the terms of Section 3.06 (except
with respect to any such Security as to which proof satisfactory to the Trustee is presented that such Security is held by a Person in whose hands such Security is a legal, valid and binding obligation of the Company). 

In determining whether the Holders of the requisite principal amount of such Securities Outstanding have given any request, demand,
authorization, direction, notice, consent or waiver hereunder, (i) the principal amount of any Original Issue Discount Security that shall be deemed to be Outstanding shall be the amount of the principal thereof that would be due and payable as
of the date of the taking of such action upon a declaration of acceleration of the Maturity thereof, and (ii) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor
shall be disregarded and deemed not to be Outstanding. In determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities which a Responsible Officer
assigned to the Corporate Trust Department of the Trustee knows to be owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor shall be so disregarded. Securities so owned which have been
pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right to act as owner with respect to such Securities and that the pledgee is not the Company or any other obligor
upon the Securities or any Affiliate of the Company or such other obligor. 
 “Paying Agent” means any Person authorized by
the Company to pay the principal of (and premium, if any) or interest on any Securities on behalf of the Company. The Company initially authorizes the Trustee to act as Paying Agent for the Securities on its behalf. The Company may at any time and
from time to time authorize one or more Persons to act as Paying Agent in addition to or in place of the Trustee with respect to any series of Securities issued under this Indenture. 

  
 6 

 “Person” means any individual, corporation, limited liability company,
partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 

“Place of Payment” means with respect to any series of Securities issued hereunder the city or political subdivision so
designated with respect to the series of Securities in question in accordance with the provisions of Section 3.01. 

“Predecessor Securities” of any particular Security means every previous Security evidencing all or a portion of the same
debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.06 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt
as the lost, destroyed or stolen Security. 
 “Redemption Date”, when used with respect to any Security to be redeemed,
means the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price”, when used with respect to
any Security to be redeemed, means the price specified in the Security at which it is to be redeemed pursuant to this Indenture. 

“Redemption Rescission Event” shall mean the occurrence of (a) any general suspension of trading in, or limitation on
prices for, securities on the principal national securities exchange on which shares of Common Stock or Marketable Securities are registered and listed for trading (or, if shares of Common Stock or Marketable Securities are not registered and listed
for trading on any such exchange, in the over-the-counter market) for more than six-and-one-half (6-1/2) consecutive trading hours, (b) any decline in either the Dow Jones Industrial Average or the S&P 500 Index (or any successor index
published by Dow Jones & Company, Inc. or S&P) by either (i) an amount in excess of 10%, measured from the close of business on any Trading Day to the close of business on the next succeeding Trading Day during the period
commencing on the Trading Day preceding the day notice of any redemption of Securities is given (or, if such notice is given after the close of business on a Trading Day, commencing on such Trading Day) and ending at the time and date fixed for
redemption in such notice or (ii) an amount in excess of 15% (or if the time and date fixed for redemption is more than 15 days following the date on which such notice of redemption is given, 20%), measured from the close of business on the
Trading Day preceding the day notice of such redemption is given (or, if such notice is given after the close of business on a Trading Day, from such Trading Day) to the close of business on any Trading Day at or prior to the time and date fixed for
redemption, (c) a declaration of a banking moratorium or any suspension of payments in respect of banks by Federal or state authorities in the United States or (d) the occurrence of an act of terrorism or commencement of a war or armed
hostilities or other national or international calamity directly or indirectly involving the United States which in the reasonable judgment of the Company could have a material adverse effect on the market for the Common Stock or Marketable
Securities. 
 “Regular Record Date” for the interest payable on any Security on any Interest Payment Date means the date
specified in such Security as the Regular Record Date. 

  
 7 

 “Repayment Date”, when used with respect to any Security to be repaid, means the
date fixed for such repayment pursuant to such Security. 
 “Repayment Price”, when used with respect to any Security to be
repaid, means the price at which it is to be repaid pursuant to such Security. 
 “Required Currency”, when used with
respect to any Security, has the meaning set forth in Section 1.14. 
 “Rescission Event” has the meaning specified in
Section 11.09. 
 “Responsible Officer”, when used with respect to the Trustee, means any officer of the Trustee with
direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular
subject. “Responsible Officer”, when used with respect to the Company, means any of the Chairman of the Board, Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer, Treasurer, any Assistant Treasurer,
Controller, General Counsel, Secretary or any Vice President of the Company (or any equivalent of the foregoing officers). 

“S&P” means Standard & Poor’s Rating Service or any successor to the rating agency business thereto. 

“Security” or “Securities” means any note or notes, bond or bonds, debenture or debentures, or any other
evidences of indebtedness, as the case may be, of any series authenticated and delivered from time to time under this Indenture. 

“Security Register” shall have the meaning specified in Section 3.05. 

“Security Registrar” means the Person who keeps the Security Register specified in Section 3.05. The Company initially
appoints the Trustee to act as Security Registrar for the Securities on its behalf. The Company may at any time and from time to time authorize any Person to act as Security Registrar in place of the Trustee with respect to any series of Securities
issued under this Indenture. 
 “Securityholder” means a Person in whose name a security is registered in the Security
Register. 
 “Senior Indebtedness” of the Company or a Guarantor, as the case may be, means the principal of, premium, if
any, interest on, and any other payment due pursuant to any of the following, whether outstanding at the date hereof or hereafter incurred or created: 
  

	 	(i)	all indebtedness of such Person for borrowed money (including any indebtedness secured by a mortgage, conditional sales contract or other lien which is (i) given to secure all or part of the purchase price of
property subject thereto, whether given to the vendor of such property or to another or (ii) existing on property at the time of acquisition thereof); 

  
 8 

	 	(ii)	all indebtedness of such Person evidenced by notes, debentures, bonds or other similar interests sold by such Person for money; 

  

	 	(iii)	all lease obligations of such Person which are capitalized on the books of such Person in accordance with generally accepted accounting principles; 

 

	 	(iv)	all indebtedness of others of the kinds described in either of the preceding clauses (i) or (ii) and all lease obligations of others of the kind described in the preceding clause (iii) assumed by or
guaranteed in any manner by such Person or in effect guaranteed by such Person through an agreement to purchase, contingent or otherwise; and 

  

	 	(v)	all renewals, extensions or refundings of indebtedness of the kinds described in any of the preceding clauses (i), (ii) and (iv) and all renewals or extensions of lease obligations of the kinds described in
either of the preceding clauses (iii) and (iv); 

 unless, in the case of any particular indebtedness, guarantee, lease, renewal,
extension or refunding, the instrument or lease creating or evidencing the same or the assumption or guarantee of the same expressly provides that such indebtedness, lease, renewal, extension or refunding is not superior in right of payment to the
Securities or the Guarantees, as the case may be. 
 “Significant Subsidiary” means any Subsidiary which would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act of 1933, as in effect on the date of this Indenture. 

“Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to
Section 3.07. 
 “Stated Maturity” when used with respect to any Security or any installment of principal thereof or
interest thereon means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Subsidiary” means, with respect to any Person, any corporation more than 50% of the voting stock of which is owned directly
or indirectly by such Person, and any partnership, association, joint venture or other entity in which such Person owns more than 50% of the equity interests or has the power to elect a majority of the board of directors or other governing body.

 “Trading Day” shall mean, with respect to the Common Stock or a Marketable Security, so long as the common stock or such
Marketable Security, as the case may be, is listed or admitted to trading on the NYSE, a day on which the NYSE is open for the transaction of business, or, if the Common Stock or such Marketable Security, as the case may be, is not listed or
admitted to trading on the NYSE, a day on which the principal national securities exchange on which the Common Stock or such Marketable Security, as the case may be, is listed is open for the transaction of business, or, if the Common Stock or such
Marketable Security, as the case may be, is not so listed or admitted for trading on any national securities exchange, a day on which the member of the Financial Industry Regulatory Authority selected by the Company to provide pricing information
for the Common Stock or such Marketable Security is open for the transaction of business. 

  
 9 

 “Trust Indenture Act” or “TIA” means the Trust Indenture Act of
1939 as in force at the date as of which this instrument was executed; provided, however, that, in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” or “TIA” means, to the extent required
by any such amendment, the Trust Indenture Act of 1939 as so amended. 
 “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 and include each Person who is then a Trustee hereunder.
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. 

“Vice President” when used with respect to the Company or the Trustee means any vice president, whether or not designated by
a number or a word or words added before or after the title “vice president”, including without limitation, an assistant vice president. 

“Voting Stock”, as applied to the stock of any corporation, means stock of any class or classes (however designated) having
by the terms thereof ordinary voting power to elect a majority of the members of the board of directors (or other governing body) of such corporation other than stock having such power only by reason of the happening of a contingency. 

“Yield to Maturity” means the yield to maturity on a series of Securities, calculated by the Company at the time of issuance
of such series of Securities, or, if applicable, at the most recent redetermination of interest on such series, in accordance with accepted financial practice. 

Section 1.02 Compliance Certificates and Opinions. Upon any application or request by the Company to the Trustee to take any action
under any provision of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any (including any covenants compliance with which constitutes a condition precedent), provided
for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such Counsel all such conditions precedent, if any (including any covenants compliance with which constitutes a
condition precedent), have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular
application or request, no additional certificate or opinion need be furnished. 
 Every certificate or opinion with respect to compliance
with a condition or covenant provided for in this Indenture (other than annual statements of compliance provided pursuant to Section 10.04) shall include: 
  

	 	(1)	a statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 

  
 10 

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

 

	 	(3)	a statement that, in the opinion of each such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has
been complied with; and 

  

	 	(4)	a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 

Section 1.03 Form of Documents Delivered to Trustee. In any case where several matters are required to be certified by, or covered by
an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give
an opinion with respect to some matters and one or more other such Persons may certify or give an opinion as to the other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion
of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to
such factual matters is in the possession of the Company, unless such Counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or
other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 Section 1.04 Acts of
Securityholders. 
 (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this
Indenture to be given or taken by Securityholders or Securityholders of any series may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Securityholders in person or by an agent duly appointed in
writing or may be embodied in or evidenced by an electronic transmission which identifies the documents containing the proposal on which such consent is requested and certifies such Securityholders’ consent thereto and agreement to be bound
thereby; and, except as herein 

  
 11 

 
otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee, and, where it is hereby expressly required, to the Company. If
any Securities are denominated in coin or currency other than that of the United States, then for the purposes of determining whether the Holders of the requisite principal amount of Securities have taken any action as herein described, the
principal amount of such Securities shall be deemed to be that amount of United States dollars that could be obtained for such principal amount on the basis of the spot rate of exchange into United States dollars for the currency in which such
Securities are denominated (as evidenced to the Trustee by an Officers’ Certificate) as of the date the taking of such action by the Holders of such requisite principal amount is evidenced to the Trustee as provided in the immediately preceding
sentence. If any Securities are Original Issue Discount Securities, then for the purposes of determining whether the Holders of the requisite principal amount of Securities have taken any action as herein described, the principal amount of such
Original Issue Discount Securities shall be deemed to be the amount of the principal thereof that would be due and payable upon a declaration of acceleration of the Maturity thereof as of the date the taking of such action by the Holders of such
requisite principal amount is evidenced to the Trustee as provided in the first sentence of this Section 1.04(a). Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the
“Act” of the Securityholders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to
Section 6.01) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 
 (b) The fact and
date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness to such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds,
certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by an officer of a corporation or a member of a partnership, on behalf of such corporation or partnership, such
certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of the person executing the same, may also be proved in any other manner which
the Trustee deems sufficient. 
 (c) The ownership of Securities shall be proved by the Security Register. 

(d) If the Company shall solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other action, the
Company may, at its option, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so.
Such record date shall be the later of 10 days prior to the first solicitation of such action or the date of the most recent list of Holders furnished to the Trustee pursuant to Section 7.01. If such a record date is fixed, such request,
demand, authorization, direction, notice, consent, waiver or other action may be given before or after the record date, but only the Holders of record at the close of business on the record date shall be deemed to be Holders for the purposes of
determining whether Holders of the requisite proportion of Securities outstanding have authorized or agreed or consented to such request, demand, authorization, 

  
 12 

 
direction, notice, consent, waiver or other action, and for that purpose the Securities outstanding shall be computed as of the record date; provided that no such authorization, agreement or
consent by the Holders on the record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date, and that no such authorization, agreement or consent
may be amended, withdrawn or revoked once given by a Holder, unless the Company shall provide for such amendment, withdrawal or revocation in conjunction with such solicitation of authorizations, agreements or consents or unless and to the extent
required by applicable law. 
 (e) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of
any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of anything done, omitted or suffered to be
done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
 Section 1.05
Notices, etc., to Trustee and Company. Any request, demand, authorization, direction, notice, consent, waiver or Act of Securityholders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed
with: 
  

	 	(1)	the Trustee by any Securityholder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, Attention:
Corporate Trust Administration; or 

  

	 	(2)	the Company by the Trustee or by any Securityholder shall be sufficient for every purpose hereunder (except as provided in Section 5.01(4) or, in the case of a request for repayment, as specified in the Security
carrying the right to repayment) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at the address of its principal office specified in the first paragraph of this instrument, Attention: Office of the General
Counsel, or at the address last furnished in writing to the Trustee by the Company. 

 Section 1.06 Notices to
Securityholders; Waiver. Where this Indenture or any Security provides for notice to Securityholders of any event, such notice shall be sufficiently given (unless otherwise herein or in such Security expressly provided) if in writing and mailed,
first-class postage prepaid, to each Securityholder affected by such event, at his address as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In
any case where notice to Securityholders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Securityholder shall affect the sufficiency of such notice with respect to other
Securityholders. Where this Indenture or any Security provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of
such notice. Waivers of notice by Securityholders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 

  
 13 

 In case, by reason of the suspension of regular mail service as a result of a strike, work
stoppage or otherwise, it shall be impractical to mail notice of any event to any Securityholder when such notice is required to be given pursuant to any provision of this Indenture, then any method of notification as shall be satisfactory to the
Trustee and the Company shall be deemed to be a sufficient giving of such notice. 
 Section 1.07 Conflict with Trust Indenture Act.
If and to the extent that any provision hereof limits, qualifies or conflicts with the duties imposed by, or with another provision (an “incorporated provision”) included in this Indenture by operation of, any of Sections 310
to 318, inclusive, of the Trust Indenture Act, such imposed duties or incorporated provision shall control. 
 Section 1.08 Effect of
Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

Section 1.09 Successors and Assigns. All covenants and agreements in this Indenture by the Company and the Guarantors, if any, shall
bind their respective successors and assigns, whether so expressed or not. 
 Section 1.10 Separability Clause. In case any provision
in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 1.11 Benefits of Indenture. Nothing in this Indenture or in any Securities, express or implied, shall give to any Person, other
than the parties hereto and their successors hereunder, any Authenticating Agent or Paying Agent, the Security Registrar and the Holders of Securities (or such of them as may be affected thereby), any benefit or any legal or equitable right, remedy
or claim under this Indenture. 
 Section 1.12 Governing Law. This Indenture shall be construed in accordance with and governed by
the laws of the State of New York. 
 Section 1.13 Counterparts. This instrument may be executed in any number of counterparts,
each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

Section 1.14 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 premium or interest, if any, 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 Trustee could purchase in the City of New York the
Required Currency with the Judgment Currency on the New York Banking Day preceding that on which a final unappealable judgment is given and 

  
 14 

 
(b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, or 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 or a day on which banking institutions in the City of New York are authorized or required by law or executive order to close. 

ARTICLE II 
 Security Forms

 Section 2.01 Forms Generally. The Securities shall have such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon, as may be required to comply with the rules of any securities exchange, or
as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution of the Securities. Any portion of the text of any Security may be set forth on the reverse thereof, with an appropriate reference
thereto on the face of the Security. 
 The definitive Securities shall be printed, lithographed or engraved or produced by any combination
of these methods on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their execution of such Securities, subject, with respect to the Securities of any
series, to the rules of any securities exchange on which such Securities are listed. 
 Section 2.02 Forms of Securities. Each
Security shall be in one of the forms approved from time to time by or pursuant to a Board Resolution, or established in one or more indentures supplemental hereto. Prior to the delivery of a Security to the Trustee for authentication in any form
approved by or pursuant to a Board Resolution, the Company shall deliver to the Trustee the Board Resolution by or pursuant to which such form of Security has been approved, which Board Resolution shall have attached thereto a true and correct copy
of the form of Security which has been approved thereby or, if a Board Resolution authorizes a specific officer or officers to approve a form of Security, a certificate of such officer or officers approving the form of Security attached thereto. Any
form of Security approved by or pursuant to a Board Resolution must be acceptable as to form to the Trustee, such acceptance to be evidenced by the Trustee’s authentication of Securities in that form or a certificate signed by a Responsible
Officer of the Trustee and delivered to the Company. 

  
 15 

 Section 2.03 Form of Trustee’s Certificate of Authentication. The form of
Trustee’s Certificate of Authentication for any Security issued pursuant to this Indenture shall be substantially as follows: 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

					
			U.S. BANK NATIONAL ASSOCIATION
			
			by		 
					Authorized Signatory
			
			Dated		 

 Section 2.04 Securities Issuable in the Form of a Global Security. 

(a) If the Company shall establish pursuant to Sections 2.02 and 3.01 that the Securities of a particular series are to be issued in
whole or in part in the form of one or more Global Securities, then the Company shall execute and the Trustee or its agent shall, in accordance with Section 3.03 and the Company Order delivered to the Trustee or its agent thereunder,
authenticate and deliver, such Global Security or Securities, which (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, the Outstanding Securities of such series to be represented by such
Global Security or Securities, or such portion thereof as the Company shall specify in a Company Order, (ii) shall be registered in the name of the Depository for such Global Security or Securities or its nominee, (iii) shall be delivered
by the Trustee or its agent to the Depository or pursuant to the Depository’s instruction and (iv) shall bear a legend substantially to the following effect: “Unless this certificate is presented by an authorized representative of the
Depository to Issuer or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of the nominee of the Depository or in such other name as is requested by an authorized representative of the
Depository (and any payment is made to the nominee of the Depository or to such other entity as is requested by an authorized representative of the Depository), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner hereof, the nominee of the Depository, has an interest herein.” 
 (b) Notwithstanding any
other provision of this Section 2.04 or of Section 3.05, and subject to the provisions of paragraph (c) below, unless the terms of a Global Security expressly permit such Global Security to be exchanged in whole or in part for
individual Securities, a Global Security may be transferred, in whole but not in part and in the manner provided in Section 3.05, only to a nominee of the Depository for such Global Security, or to the Depository, or a successor Depository for
such Global Security selected or approved by the Company, or to a nominee of such successor Depository. 
 (c) (i) If at any time the
Depository for a Global Security notifies the Company that it is unwilling or unable to continue as Depository for such Global Security or if at any time the Depository for the Securities for such series shall no longer be eligible or in good
standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or 

  
 16 

 
regulation, the Company shall appoint a successor Depository with respect to such Global Security. If a successor Depository for such Global Security is not appointed by the Company within 90
days after the Company receives such notice or becomes aware of such ineligibility, the Company will execute, and the Trustee or its agent, upon receipt of a Company Request for the authentication and delivery of individual Securities of such series
in exchange for such Global Security, will authenticate and deliver, individual Securities of such series of like tenor and terms in an aggregate principal amount equal to the principal amount of the Global Security in exchange for such Global
Security. 
 (ii) The Company may at any time and in its sole discretion determine that the Securities of any series or
portion thereof issued or issuable in the form of one or more Global Securities shall no longer be represented by such Global Security or Securities. In such event the Company will execute, and the Trustee, upon receipt of a Company Request for the
authentication and delivery of individual Securities of such series in exchange in whole or in part for such Global Security, will authenticate and deliver individual Securities of such series of like tenor and terms in definitive form in an
aggregate principal amount equal to the principal amount of such Global Security or Securities representing such series or portion thereof in exchange for such Global Security or Securities. 

(iii) If specified by the Company pursuant to Sections 2.02 and 3.02 with respect to Securities issued or issuable in the
form of a Global Security, the Depository for such Global Security may surrender such Global Security in exchange in whole or in part for individual Securities of such series of like tenor and terms in definitive form on such terms as are acceptable
to the Company and such Depository. Thereupon the Company shall execute, and the Trustee or its agent shall authenticate and deliver, without service charge, (1) to each Person specified by such Depository a new Security or Securities of the
same series of like tenor and terms and of any authorized denomination as requested by such Person in aggregate principal amount equal to and in exchange for such Person’s beneficial interest as specified by such Depository in the Global
Security; and (2) to such Depository a new Global Security of like tenor and terms and in an authorized denomination equal to the difference, if any, between the principal amount of the surrendered Global Security and the aggregate principal
amount of Securities delivered to Holders thereof. 
 (iv) In any exchange provided for in any of the preceding three
paragraphs, the Company will execute and the Trustee or its agent will authenticate and deliver individual Securities in definitive registered form in authorized denominations. Upon the exchange of the entire principal amount of a Global Security
for individual Securities, such Global Security shall be canceled by the Trustee or its agent. Except as provided in the preceding paragraph, Securities issued in exchange for a Global Security pursuant to this Section shall be registered in
such names and in such authorized denominations as the Depository for such Global Security, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee or the Security Registrar. The Trustee or the
Security Registrar shall deliver at its Corporate Trust Office such Securities to the Persons in whose names such Securities are so registered. 

  
 17 

 ARTICLE III 

The Securities 
 Section
3.01 General Title; General Limitations; Issuable in Series; Terms of Particular Series. The aggregate principal amount of Securities which may be authenticated and delivered and Outstanding under this Indenture is not limited. 

The Securities may be issued in one or more series as from time to time may be authorized by the Board of Directors. There shall be
established in or pursuant to a Board Resolution or in an indenture supplemental hereto, subject to Section 3.11, prior to the issuance of Securities of any such series: 
  

	 	(1)	the title of the Securities of such series (which shall distinguish the Securities of such series from Securities of any other series); 

 

	 	(2)	the Person to whom any interest on a Security of such series shall be payable, if other than the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest; 

  

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

  

	 	(4)	the rate or rates at which the Securities of such series shall bear interest, if any, or the manner in which such rates are determined, the date or dates from which such interest shall accrue, the Interest Payment Dates
on which any such interest shall be payable and the Regular Record Date for any interest payable on any Interest Payment Date; 

  

	 	(5)	the place or places where the principal of and any premium and interest on Securities of such series shall be payable; 

  

	 	(6)	the period or periods within which, the Redemption Price or Prices or the Repayment Price or Prices, as the case may be, at which and the terms and conditions upon which Securities of such series may be redeemed or
repaid (including the applicability of Section 11.09), as the case may be, in whole or in part, at the option of the Company or the Holder; 

  

	 	(7)	the obligation, if any, of the Company to purchase Securities of such 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 such series shall be purchased, in whole or in part, pursuant to such obligation; 

  
 18 

	 	(8)	if other than denominations of $2,000 and any integral multiple of $1,000 in excess of $2,000, the denominations in which Securities of such series shall be issuable; 

 

	 	(9)	provisions, if any, with regard to the conversion or exchange of the Securities of such series, at the option of the Holders thereof or the Company, as the case may be, for or into new Securities of a different series,
Common Stock or other securities; 

  

	 	(10)	if other than U.S. dollars, the currency or currencies or units based on or related to currencies in which the Securities of such series shall be denominated and in which payments of principal of, and any premium and
interest on, such Securities shall or may be payable; 

  

	 	(11)	if the principal of (and premium, if any) or interest, if any, on the Securities of such series are to be payable, at the election of the Company or a Holder thereof, in a coin or currency (including a composite
currency) other than that in which the Securities are stated to be payable, the period or periods within which, and the terms and conditions upon which, such election may be made; 

 

	 	(12)	if the amount of payments of principal of (and premium, if any) or interest, if any, on the Securities of such series may be determined with reference to an index based on a coin or currency (including a composite
currency) other than that in which the Securities are stated to be payable, the manner in which such amounts shall be determined; 

  

	 	(13)	any limit upon the aggregate principal amount of the Securities of such series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of
transfer of, or in exchange for, or in lieu of, other Securities of such series pursuant to Sections 3.04, 3.05, 3.06, 9.06, 11.07 and 13.02 and except for any Securities which, pursuant to Section 3.03, are deemed never to have been
authenticated and delivered hereunder); 

  

	 	(14)	provisions, if any, with regard to the exchange of Securities of such series, at the option of the Holders thereof, for other Securities of the same series of the same aggregate principal amount or of a different
authorized series or different authorized denomination or denominations, or both; 

  

	 	(15)	 provisions, if any, with regard to the appointment by the Company of an Authenticating Agent in one or more places other than the location of the
office of the Trustee with power to act on behalf of 

  
 19 

	 	
the Trustee and subject to its direction in the authentication and delivery of the Securities of any one or more series in connection with such transactions as shall be specified in the
provisions of this Indenture or in or pursuant to such Board Resolution or indenture supplemental hereto; 

  

	 	(16)	the portion of the principal amount of Securities of the series, if other than the principal amount thereof, which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02
or provable in bankruptcy pursuant to Section 5.04; 

  

	 	(17)	any Event of Default with respect to the Securities of such series, if not set forth herein, and any additions, deletions or other changes to the Events of Default set forth herein that shall be applicable to the
Securities of such series; 

  

	 	(18)	any covenant solely for the benefit of the Securities of such series and any additions, deletions or other changes to the provisions of Article VIII, Article X or Section 1.01 or any definitions relating
to such Article that would otherwise be applicable to the Securities of such series; 

  

	 	(19)	if Section 4.03 of this Indenture shall not be applicable to the Securities of such series and if Section 4.03 shall be applicable to any covenant or Event of Default established in or pursuant to a Board
Resolution or in an indenture supplemental hereto as described above that has not already been established herein; 

  

	 	(20)	any amendments or modifications to the subordination provisions in Article XII; 

  

	 	(21)	if the Securities of such series shall be issued in whole or in part in the form of a Global Security or Securities, the terms and conditions, if any, upon which such Global Security or Securities may be exchanged in
whole or in part for other individual Securities; and the Depository for such Global Security or Securities; 

  

	 	(22)	if the Securities of such series shall be guaranteed, the terms and conditions of such Guarantees and provisions for the accession of the guarantors to certain obligations hereunder; and 

 

	 	(23)	any other terms of such series, including, without limitations, any restrictions on transfer related thereto; 

all upon such terms as may be determined in or pursuant to such Board Resolution or indenture supplemental hereto with respect to such series. 

  
 20 

 The form of the Securities of each series shall be established pursuant to the provisions of this
Indenture in or pursuant to the Board Resolution or in the indenture supplemental hereto creating such series. The Securities of each series shall be distinguished from the Securities of each other series in such manner, reasonably satisfactory to
the Trustee, as the Board of Directors may determine. 
 Unless otherwise provided with respect to Securities of a particular series, the
Securities of any series may only be issuable in registered form, without coupons. 
 Any terms or provisions in respect of the Securities
of any series issued under this Indenture may be determined pursuant to this Section by providing for the method by which such terms or provisions shall be determined. 

Section 3.02 Denominations. The Securities of each series shall be issuable in such denominations and currency as shall be provided in
the provisions of this Indenture or in or pursuant to the Board Resolution or the indenture supplemental hereto creating such series. In the absence of any such provisions with respect to the Securities of any series, the Securities of that series
shall be issuable only in fully registered form in denominations of $2,000 and any integral multiple of $1,000 in excess of $2,000. 

Section 3.03 Execution, Authentication and Delivery and Dating. The Securities shall be executed on behalf of the Company by its
Chairman of the Board, its Chief Executive Officer, its President, its Chief Operating Officer, its Chief Financial Officer, its Treasurer, any Assistant Treasurer, its Controller, its General Counsel, its Secretary or any Vice President and
attested by its Secretary, one of its Assistant Secretaries or any other authorized officer of the Company. The signature of any of these officers on the Securities may be manual or facsimile. 

Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the
Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities executed by the
Company to the Trustee for authentication; and the Trustee shall, upon Company Order, authenticate and deliver such Securities as in this Indenture provided and not otherwise. 

Prior to any such authentication and delivery, the Trustee shall be provided with the Officers’ Certificate and Opinion of Counsel
required to be furnished to the Trustee pursuant to Section 1.02, and the Board Resolution and any certificate relating to the issuance of the series of Securities required to be furnished pursuant to Section 2.02, an Opinion of Counsel
substantially to the effect that: 
  

	 	(1)	all instruments furnished to the Trustee conform to the requirements of the Indenture and constitute sufficient authority hereunder for the Trustee to authenticate and deliver such Securities; 

  
 21 

	 	(2)	the form and terms of such Securities have been established in conformity with the provisions of this Indenture; 

  

	 	(3)	all laws and requirements with respect to the execution and delivery by the Company of such Securities have been complied with, the Company has the corporate power to issue such Securities and such Securities have been
duly authorized and delivered by the Company and, assuming due authentication and delivery by the Trustee, constitute legal, valid and binding obligations of the Company enforceable in accordance with their terms (subject, as to enforcement of
remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws and legal principles affecting creditors’ rights generally from time to time in effect and to general equitable principles, whether applied in an action at
law or in equity) and entitled to the benefits of this Indenture, equally and ratably with all other Securities, if any, of such series Outstanding; 

  

	 	(4)	when applicable, the Indenture is qualified under the Trust Indenture Act; and 

  

	 	(5)	such other matters as the Trustee may reasonably request; 

 and, if the authentication and delivery relates to
a new series of Securities created by an indenture supplemental hereto, also stating that all laws and requirements with respect to the form and execution by the Company of the supplemental indenture with respect to that series of Securities have
been complied with, the Company has corporate power to execute and deliver any such supplemental indenture and has taken all necessary corporate action for those purposes and any such supplemental indenture has been duly executed and delivered and
constitutes the legal, valid and binding obligation of the Company enforceable in accordance with its terms (subject, as to enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws and legal principles
affecting creditors’ rights generally from time to time in effect and to general equitable principles, whether applied in an action at law or in equity). 

The Trustee shall not be required to authenticate such Securities if the issue thereof will adversely affect the Trustee’s own rights,
duties or immunities under the Securities and this Indenture. 
 Unless otherwise provided in the form of Security for any series, all
Securities shall be dated the date of their authentication. 
 No Security shall be entitled to any benefit under this Indenture or be valid
or obligatory for any purpose unless there appears on such Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual or facsimile signature, and such certificate upon any Security shall
be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder. 

  
 22 

 
Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the
Trustee for cancellation as provided in Section 3.09, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

Section 3.04 Temporary Securities. Pending the preparation of definitive Securities of any series, the Company may execute, and, upon
receipt of the documents required by Section 3.03, together with a Company Order, the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as
evidenced by their execution of such Securities. 
 If temporary Securities of any series are issued, the Company will cause definitive
Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Securities, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the
temporary Securities of such series at the office or agency of the Company in a Place of Payment, without charge to the Holder; and upon surrender for cancellation of any one or more temporary Securities the Company shall execute and the Trustee
shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of such series of authorized denominations and of like tenor and terms. Until so exchanged the temporary Securities of such series shall in all
respects be entitled to the same benefits under this Indenture as definitive Securities of such series. 
 Section 3.05 Registration,
Transfer and Exchange. The Company shall keep or cause to be kept a register or registers (herein sometimes referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the
Company shall provide for the registration of Securities, or of Securities of a particular series, and of transfers of Securities or of Securities of such series. Any such register shall be in written form or in any other form capable of being
converted into written form within a reasonable time. At all reasonable times the information contained in such register or registers shall be available for inspection by the Trustee at the office or agency to be maintained by the Company as
provided in Section 10.02. There shall be only one Security Register per series of Securities. 
 Subject to Section 2.04, upon
surrender for registration of transfer of any Security of any series at the office or agency of the Company maintained for such purpose in a Place of Payment, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of
the designated transferee or transferees, one or more new Securities of such series of any authorized denominations, of a like aggregate principal amount and Stated Maturity and of like tenor and terms. 

Subject to Section 2.04, at the option of the Holder, Securities of any series may be exchanged for other Securities of such series of
any authorized denominations, of a like aggregate principal amount and Stated Maturity and of like tenor and terms, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange,
the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Securityholder making the exchange is entitled to receive. 

  
 23 

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

Every Security presented or surrendered for registration of transfer or exchange shall (if so required by the Company or the Trustee) be duly
endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed, by the Holder thereof or his attorney duly authorized in writing. 

Unless otherwise provided in the Security to be registered for transfer or exchanged, no service charge shall be made on any Securityholder
for any registration of transfer or exchange of Securities, but the Company may (unless otherwise provided in such Security) require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any
registration of transfer or exchange of Securities, other than exchanges pursuant to Section 3.04, 9.06 or 11.07 not involving any transfer. 

The Company shall not be required (i) to issue, register the transfer of or exchange any Security of any series during a period beginning
at the opening of business 15 days before the day of the mailing of a notice of redemption of Securities of such series selected for redemption under Section 11.03 and ending at the close of business on the date of such mailing, or (ii) to
register the transfer of or exchange any Security so selected for redemption in whole or in part. 
 None of the Company, the Trustee, any
agent of the Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for
maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 
 Section 3.06 Mutilated, Destroyed,
Lost and Stolen Securities. If (i) any mutilated Security is surrendered to the Trustee, or the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Security, and (ii) there is
delivered to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a protected purchaser,
the Company shall execute and upon its written request the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Security, a new Security of like tenor, series, Stated Maturity and
principal amount, 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. 

  
 24 

 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 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 the same 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. 

Section 3.07 Payment of Interest; Interest Rights Preserved. Unless otherwise provided with respect to such Security pursuant to
Section 3.01, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at
the close of business on the Regular Record Date for such interest. 
 Any interest on any Security which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of his having been such Holder;
and, except as hereinafter provided, such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or clause (2) below: 
  

	 	(1)	 The Company may elect to make payment of any Defaulted Interest to the Persons in whose names any such Securities (or their respective Predecessor
Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner (the “Special Record Date”). The Company shall notify the Trustee
in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed
to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this clause (1) provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not 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. The Trustee shall promptly notify 

  
 25 

	 	
the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date
therefor to be mailed, first class postage prepaid, to the Holder of each such Security at his address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such Special Record
Date and shall no longer be payable pursuant to the following clause (2). 

  

	 	(2)	The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be
required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause (2), such manner of payment shall be deemed practicable by the Trustee. 

If any installment of interest the Stated Maturity of which is on or prior to the Redemption Date for any Security called for redemption
pursuant to Article XI is not paid or duly provided for on or prior to the Redemption Date in accordance with the foregoing provisions of this Section, such interest shall be payable as part of the Redemption Price of such Securities. 

Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in
exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 

Section 3.08 Persons Deemed Owners. The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
name any Security is registered as the owner of such Security for the purpose of receiving payment of principal of (and premium, if any), and (subject to Section 3.07) interest on, such Security and for all other purposes whatsoever, whether or
not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

None of the Company, the Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect of the
records relating to or payments made on account of beneficial ownership interests in a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

Section 3.09 Cancellation. All Securities surrendered for payment, conversion, redemption, registration of transfer, exchange or credit
against a sinking fund shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and, if not already 

  
 26 

 
canceled, shall be promptly canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company
may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly canceled by the Trustee. No Security shall be authenticated in lieu of or in exchange for any Securities canceled as provided in this Section, except as
expressly permitted by this Indenture. The Trustee shall dispose of all canceled Securities in accordance with its standard procedures and deliver a certificate of such disposition to the Company upon its written request therefor. 

Section 3.10 Computation of Interest. Unless otherwise provided as contemplated in Section 3.01, interest on the Securities shall
be calculated on the basis of a 360-day year of twelve 30-day months. 
 Section 3.11 Delayed Issuance of Securities. Notwithstanding
any contrary provision herein, if all Securities of a series are not to be originally issued at one time, it shall not be necessary for the Company to deliver to the Trustee an Officers’ Certificate, Board Resolution, indenture supplemental
hereto, opinion of counsel or Company Order otherwise required pursuant to Sections 1.02, 2.02, 3.01 and 3.03 at or prior to the time of authentication of each Security of such series if such documents are delivered to the Trustee or its agent
at or prior to the authentication upon original issuance of the first Security of such series to be issued; provided that any subsequent request by the Company to the Trustee to authenticate Securities of such series upon original issuance shall
constitute a representation and warranty by the Company that as of the date of such request, the statements made in the Officers’ Certificate or other certificates delivered pursuant to Sections 1.02 and 2.02 shall be true and correct as
if made on such date. 
 A Company Order, Officers’ Certificate or Board Resolution or indenture supplemental hereto delivered by the
Company to the Trustee in the circumstances set forth in the preceding paragraph may provide that Securities which are the subject thereof will be authenticated and delivered by the Trustee or its agent on original issue from time to time in the
aggregate principal amount, if any, established for such series pursuant to such procedures reasonably acceptable to the Trustee as may be specified from time to time by Company Order upon the telephonic, electronic or written order of Persons
designated in such Company Order, Officers’ Certificate, indenture supplemental hereto or Board Resolution (any such telephonic or electronic instructions to be promptly confirmed in writing by such Persons) and that such Persons are authorized
to determine, consistent with such Company Order, Officers’ Certificate, indenture supplemental hereto or Board Resolution, such terms and conditions of said Securities as are specified in such Company Order, Officers’ Certificate,
indenture supplemental hereto or Board Resolution. 
 ARTICLE IV 

Satisfaction and Discharge; Defeasance 

Section 4.01 Satisfaction and Discharge of Indenture. Unless pursuant to Section 3.01 provision is made that this Section shall
not be applicable to the Securities of any series, this Indenture shall cease to be of further effect with respect to any series of Securities 

  
 27 

 
(except for Article XI and as to any surviving rights of conversion or registration of transfer or exchange of Securities of such series expressly provided for herein or in the form of Security
for such series), and the Trustee, on receipt of a Company Request and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture as to such series, when: 

 

	 	(1)	either 

  

	 	(A)	all Securities of that series theretofore authenticated and delivered (other than (i) Securities of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in
Section 3.06, and (ii) Securities of such series for whose payment money in the Required Currency has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged
from such trust, as provided in Section 10.03) have been delivered to the Trustee canceled or for cancellation; or 

  

	 	(B)	all such Securities of that series not theretofore delivered to the Trustee canceled or for cancellation: 

  

	 	(i)	have become due and payable, or 

  

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

  

	 	(iii)	are to be called for redemption within one year under arrangements reasonably satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company,

 and the Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be deposited with the Trustee as
trust funds in trust for the purpose an amount in the Required Currency sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee canceled or for cancellation, for principal (and premium, if
any) and interest to the date of such deposit (in the case of Securities which have become due and payable), or to the Stated Maturity or Redemption Date, as the case may be; 
  

	 	(2)	the Company has paid or caused to be paid all other sums payable hereunder by the Company with respect to the Securities of such series; and 

 

	 	(3)	the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this
Indenture with respect to the Securities of such series have been complied with. 

  
 28 

 Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of
Securities, the obligations of the Company to the Trustee with respect to that series under Section 6.07 shall survive and the obligations of the Company and the Trustee under Sections 3.05, 3.06, 4.02, 10.02 and 10.03 shall survive such
satisfaction and discharge. 
 It is understood that the Company may also elect to exercise its rights under this Section 4.01 to
satisfy and discharge the Indenture with respect to the Securities of all series of Securities that are subject to this Section 4.01. 

Section 4.02 Application of Trust Money. Subject to the provisions of the last paragraph of Section 10.03, all money, property and
securities deposited with the Trustee pursuant to Section 4.01 or Section 4.03 shall be held in trust and applied by it, in accordance with the provisions of the series of Securities in respect of which it was deposited 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 premium, if any) and interest for whose payment
such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law. 

Anything herein to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any
money, property or securities deposited with and held by it as provided in Section 4.03 and this Section 4.02 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent satisfaction and discharge, Discharge (as defined below) or covenant defeasance, provided that the Trustee
shall not be required to liquidate any securities in order to comply with the provisions of this paragraph. 
 Section 4.03 Defeasance
Upon Deposit of Funds or Government Obligations. Unless pursuant to Section 3.01 provision is made that this Section shall not be applicable to the Securities of any series, at the Company’s option, either (a) the Company and
the Guarantors, if any, shall be deemed to have been Discharged (as defined below) from its obligations with respect to any series of Securities after the applicable conditions set forth below have been satisfied or (b) the Company shall cease
to be under any obligation to comply with any term, provision or condition set forth in Section 10.05 and Article VIII (and any other Sections or covenants applicable to such Securities that are determined pursuant to
Section 3.01 to be subject to this provision), the Guarantors, if any, shall be released from the Guarantees and clause (4) of Section 5.01 of this Indenture (and any other Events of Default applicable to such Securities that are
determined pursuant to Section 3.01 to be subject to this provision) shall be deemed not to be an Event of Default with respect to any series of Securities at any time after the applicable conditions set forth below have been satisfied: 

 

	 	(1)	 the Company shall have deposited or caused to be deposited irrevocably with the Trustee as trust funds, specifically pledged as

  
 29 

	 	
security for, and dedicated solely to, the benefit of the Holders of the Securities of such series, (i) money in an amount, or (ii) the equivalent in securities of the government which
issued the currency in which the Securities are denominated or government agencies backed by the full faith and credit of such government which through the payment of interest and principal in respect thereof in accordance with their terms will
provide freely available funds on or prior to the due date of any payment, money in an amount, or (iii) a combination of (i) and (ii), sufficient, in the opinion (with respect to (ii) and (iii)) of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal (including mandatory sinking fund payments) and any premium of, interest on and any repurchase
or redemption obligations with respect to the outstanding Securities of such series on the dates such installments of interest or principal or repurchase or redemption obligations are due (before such a deposit, if the Securities of such series are
then redeemable or may be redeemed in the future pursuant to the terms thereof, in either case at the option of the Company, the Company may give to the Trustee, in accordance with Section 11.02, a notice of its election to redeem all of the
Securities of such series at a future date in accordance with Article XI); 

  

	 	(2)	no Event of Default or event (including such deposit) which with notice or lapse of time would become an Event of Default with respect to the Securities of such series shall have occurred and be continuing on the date
of such deposit (other than an Event of Default resulting from the borrowing of funds to be applied to such deposit); 

  

	 	(3)	the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that Holders of the Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result of
the Company’s exercise of its option under this Section 4.03 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 option had not been exercised, and,
in the case of Securities being Discharged, accompanied by a ruling to that effect from the Internal Revenue Service, unless, as set forth in such Opinion of Counsel, there has been a change in the applicable federal income tax law since the date of
this Indenture such that a ruling from the Internal Revenue Service is no longer required; 

  

	 	(4)	 the Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit referred to in paragraph

  
 30 

	 	
(1) above was not made by the Company with the intent of preferring the Holders over other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding
creditors of the Company or others; and 

  

	 	(5)	the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that all conditions precedent herein provided for relating to the Discharge or defeasance of this
Indenture with respect to the Securities of such series have been complied with. 

 If the Company, at its option, with
respect to a series of Securities, satisfies the applicable conditions pursuant to either clause (a) or (b) of the first sentence of this Section, then (x), in the event the Company satisfies the conditions to clause (a) and elects
clause (a) to be applicable, each of the Guarantors, if any, shall be deemed to have paid and discharged the entire indebtedness represented by, and obligations under, its respective guarantee of the Securities of such series and to have
satisfied all the obligations under this Indenture relating to the Securities of such series and (y) in either case, each of the Guarantors, if any, shall cease to be under any obligation to comply with any term, provision or condition set
forth in any covenants applicable to such Securities that are determined pursuant to Section 3.01 to be subject to this provision), and any Events of Default applicable to such series of Securities that are determined pursuant to
Section 3.01 to be subject to this provision shall be deemed not to be an Event of Default with respect to such series of Securities at any time thereafter. 

“Discharged” means that the Company and each of the Guarantors, if any, shall be deemed to have paid and discharged the
entire indebtedness represented by, and obligations under, the Securities of such series and to have satisfied all the obligations under this Indenture relating to the Securities of such series (and the Trustee, on receipt of a Company Request and
at the expense of the Company, shall execute proper instruments acknowledging the same), except (A) the rights of Holders of Securities to receive, from the trust fund described in clause (1) above, payment of the principal and any premium
of and any interest on such Securities when such payments are due; (B) the Company’s and each of the Guarantors’, if any, obligations with respect to such Securities under Sections 3.05, 3.06, 4.02, 6.07, 10.02 and 10.03;
(C) the Company’s right of redemption, if any, with respect to any Securities of such series pursuant to Article XI, in which case the Company may redeem the Securities of such series in accordance with Article XI by complying
with such Article and depositing with the Trustee, in accordance with Section 11.05, an amount of money sufficient, together with all amounts held in trust pursuant to Section 4.02 with respect to Securities of such series, to pay the
Redemption Price of all the Securities of such series to be redeemed; and (D) the rights, powers, trusts, duties and immunities of the Trustee hereunder. A “Discharge” shall mean the meeting by the Company of the foregoing
requirements. 
 Section 4.04 Reinstatement. If the Trustee or Paying Agent is unable to apply any money, property or securities in
accordance with Section 4.02 of this Indenture, 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 Company’s
and, if applicable, the Guarantors’ obligations under this Indenture and the Securities shall be revived 

  
 31 

 
and reinstated as though no deposit had occurred pursuant to Section 4.01 or 4.03 of this Indenture, as the case may be, until such time as the Trustee or Paying Agent is permitted to apply
all such money, property or securities in accordance with Section 4.02 of this Indenture; provided, that, if the Company has made any payment of principal of or interest on 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, property or securities held by the Trustee or Paying Agent. 

ARTICLE V 
 Remedies 

Section 5.01 Events of Default. “Event of Default”, wherever used herein, means with respect to any series of
Securities any one of the following events (whatever the reason for such Event of Default and whether it shall be occasioned by the provisions of Article XII or voluntary or involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any administrative or governmental body), unless such event is either inapplicable to a particular series or it is specifically deleted or modified in or pursuant to the indenture
supplemental hereto or Board Resolution creating such series of Securities or in the form of Security for such series: 
  

	 	(1)	default in the payment of any interest upon any Security of that series when it becomes due and payable, and continuance of such default for a period of 30 days; or 

 

	 	(2)	default in the payment of the principal of (or premium, if any, on) any Security of that series at its Maturity; or 

  

	 	(3)	default in the payment of any sinking or purchase fund or analogous obligation when the same becomes due by the terms of the Securities of such series; or 

 

	 	(4)	default in the performance, or breach, of any covenant or warranty of the Company in this Indenture in respect of the Securities of such series (other than a covenant or warranty in respect of the Securities of such
series a default in the performance of which or the breach of which is elsewhere in this Section specifically dealt with), all of such covenants and warranties in the Indenture which are not expressly stated to be for the benefit of a
particular series of Securities being deemed in respect of the Securities of all series for this purpose, and continuance of such default or breach for a period of 90 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 33 1/3% in aggregate principal amount of the Outstanding Securities of such 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 

  
 32 

	 	(5)	the entry of an order for relief against the Company or any Significant Subsidiary thereof under Title 11, United States Code (the “Federal Bankruptcy Act”) by a court having jurisdiction in the
premises or a decree or order by a court having jurisdiction in the premises adjudging the Company or any Significant Subsidiary thereof a bankrupt or insolvent under any other applicable Federal or State law, or the entry of a decree or order
approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company or any Significant Subsidiary thereof under the Federal Bankruptcy Act or any other applicable Federal or State
law, or appointing a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or any Significant Subsidiary thereof or of any substantial part of its property, or ordering the winding up or liquidation of its
affairs, and the continuance of any such decree or order unstayed and in effect for a period of 90 consecutive days; or 

  

	 	(6)	the consent by the Company or any Significant Subsidiary thereof to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer or consent seeking reorganization or
relief under the Federal Bankruptcy Act or any other applicable Federal or State law, or the consent by it to the filing of any such petition or to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar
official) of the Company or any Significant Subsidiary thereof or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts
generally as they become due, or the taking of corporate action by the Company or any Significant Subsidiary thereof in furtherance of any such action; or 

  

	 	(7)	any other Event of Default provided in the indenture supplemental hereto or Board Resolution under which such series of Securities is issued or in the form of Security for such series. 

Section 5.02 Acceleration of Maturity; Rescission and Annulment. If an Event of Default described in paragraph (1), (2), (3),
(4) or (7) (if the Event of Default under clause (4) or (7) is with respect to less than all series of Securities then Outstanding) of Section 5.01 occurs and is continuing with respect to any series, then and in each and
every such case, unless the principal of all the Securities of such series shall have already become due and payable, either the Trustee or the Holders of not less than 33 1/3% in aggregate principal amount of the Securities of such series then
Outstanding hereunder (each such series acting as a separate class), by notice in writing to the Company (and to the Trustee if given by Holders), may declare the principal amount (or, if the Securities of such series are Original Issue Discount
Securities, such 

  
 33 

 
portion of the principal amount as may be specified in the terms of that series) of all the Securities of such series and all accrued interest thereon to be due and payable immediately, and upon
any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Securities of such series contained to the contrary notwithstanding. If an Event of Default described in clause (4) or
(7) (if the Event of Default under clause (4) or (7) is with respect to all series of Securities then Outstanding), of Section 5.01 occurs and is continuing, then and in each and every such case, unless the principal of all the
Securities shall have already become due and payable, either the Trustee or the Holders of not less than 33 1/3% in aggregate principal amount of all the Securities then Outstanding hereunder (treated as one class), by notice in writing to the
Company (and to the Trustee if given by Holders), may declare the principal amount (or, if any Securities are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms thereof) of all the Securities
then Outstanding and all accrued interest thereon to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Securities contained to the
contrary notwithstanding. If an Event of Default of the type set forth in clause (5) or (6) of Section 5.01 occurs and is continuing, the principal of and any interest on the Securities then outstanding shall become immediately due
and payable. 
 At any time after such a declaration of acceleration has been made with respect to the Securities of any or all series, as
the case may be, 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 such series,
by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: 
  

	 	(1)	the Company has paid or deposited with the Trustee a sum sufficient to pay: 

  

	 	(A)	all overdue installments of interest on the Securities of such series; and 

  

	 	(B)	the principal of (and premium, if any, on) any Securities of such series which have become due otherwise than by such declaration of acceleration, and interest thereon at the rate or rates prescribed therefor by the
terms of the Securities of such series, to the extent that payment of such interest is lawful; and 

  

	 	(C)	interest upon overdue installments of interest at the rate or rates prescribed therefor by the terms of the Securities of such series to the extent that payment of such interest is lawful; and 

 

	 	(D)	all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and all other amounts due the Trustee under
Section 6.07; and 

  
 34 

	 	(2)	all Events of Default with respect to such series of Securities, other than the nonpayment of the principal of the Securities of such series which have become due solely by such acceleration, have been cured or waived
as provided in Section 5.13. 

 No such rescission shall affect any subsequent default or impair any right consequent
thereon. 
 Section 5.03 Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if: 

 

	 	(1)	default is made in the payment of any installment of interest on any Security of any series when such interest becomes due and payable; or 

 

	 	(2)	default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof; or 

  

	 	(3)	default is made in the payment of any sinking or purchase fund or analogous obligation when the same becomes due by the terms of the Securities of any series; 

and any such default continues for any period of grace provided with respect to the Securities of such series, the Company will, upon demand of the Trustee,
pay to it, for the benefit of the Holder of any such Security (or the Holders of any such series in the case of clause (3) above), the whole amount then due and payable on any such Security (or on the Securities of any such series in the case
of clause (3) above) for principal (and premium, if any) and interest, with interest, to the extent that payment of such interest shall be legally enforceable, upon the overdue principal (and premium, if any) and upon overdue installments
of interest, at such rate or rates as may be prescribed therefor by the terms of any such Security (or of Securities of any such series in the case of clause (3) above); and, in addition thereto, such further amount as shall be sufficient to
cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and all other amounts due the Trustee under Section 6.07. 

If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may
institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities of such series and
collect the money adjudged or decreed 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. 

If an Event of Default with respect to any series of Securities occurs and is continuing, the Trustee may in its discretion proceed to protect
and enforce its rights and the 

  
 35 

 
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 5.04 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 proceedings or otherwise: 
 (i) to file and prove a
claim for the whole amount of principal (or portion thereof determined pursuant to Section 3.01(16) to be provable in bankruptcy) (and premium, if any) and interest owing and unpaid in respect of the Securities and to file such other papers or
documents as may be necessary and advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and all other amounts due the
Trustee under Section 6.07) and of the Securityholders allowed in such judicial proceeding; and 
 (ii) to collect and
receive any moneys or other property payable or deliverable on any such claims and to distribute the same; 
 and any receiver, assignee, trustee,
liquidator, sequestrator (or other similar official) in any such judicial proceeding is hereby authorized by each Securityholder to make such payment to the Trustee and in the event that the Trustee shall consent to the making of such payments
directly to the Securityholders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.07.

 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Securityholder 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 Securityholder in any such proceeding.

 Section 5.05 Trustee May Enforce Claims Without Possession of Securities. All rights of action and claims under this
Indenture or the Securities of any series may be prosecuted and enforced by the Trustee without the possession of any of the Securities of such series or the production thereof in any proceeding relating thereto, and any such proceeding instituted
by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agent and
counsel and any other amounts due the Trustee under Section 6.07, be for the ratable benefit of the Holders of the Securities of the series in respect of which such judgment has been recovered. 

  
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 Section 5.06 Application of Money Collected. Any money collected by the Trustee with
respect to a series of Securities pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal (or premium, if any) or
interest, upon presentation of the Securities of such series 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 6.07. 

SECOND: Subject to Article XII, to the payment of the amounts then due and unpaid upon the Securities of that series for principal (and
premium, if any) and interest, 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
premium, if any) and interest, respectively. 
 THIRD: To the Company. 

Section 5.07 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: 
  

	 	(1)	such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to Securities of such series; 

 

	 	(2)	the Holders of not less than 33 1/3% in principal amount of the outstanding Securities of such series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in
its own name as Trustee hereunder; 

  

	 	(3)	such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request; 

 

	 	(4)	the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 

 

	 	(5)	no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of such series;

 it being understood and intended that no one or more Holders of Securities of such series shall have any right in any manner whatever by
virtue of, or by availing of, any provision of this 

  
 37 

 
Indenture to affect, disturb or prejudice the rights of any other Holders of Securities of such series, or to obtain or to seek to obtain priority or preference over any other such Holders or to
enforce any right under this Indenture, except in the manner herein provided and for the equal and proportionate benefit of all the Holders of all Securities of such series. 

Section 5.08 Unconditional Right of Securityholders to Receive Principal, Premium and Interest. Notwithstanding any other provisions 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 premium, if any) and (subject to Section 3.07) interest on such Security on the respective Stated
Maturities expressed in such Security (or, in the case of redemption or repayment, on the Redemption Date or Repayment Date, as the case may be) and to institute suit for the enforcement of any such payment, and such right shall not be impaired
without the consent of such Holder. 
 Section 5.09 Restoration of Rights and Remedies. If the Trustee or any Securityholder has
instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, then and in every such case the Company, the Trustee and the Securityholders shall, subject to any
determination in such proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Trustee and the Securityholders shall continue as though no such proceeding had been
instituted. 
 Section 5.10 Rights and Remedies Cumulative. No right or remedy herein conferred upon or reserved to the Trustee or to
the Securityholders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

Section 5.11 Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Security 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
Securityholders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Securityholders, as the case may be. 

Section 5.12 Control by Securityholders. 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:

  

	 	(1)	 the Trustee shall have the right to decline to follow any such direction if the Trustee, being advised by counsel, determines that the action so
directed may not lawfully be taken or would conflict with this Indenture or if the Trustee in good faith shall, by a 

  
 38 

	 	
Responsible Officer, determine that the proceedings so directed would involve it in personal liability or be unjustly prejudicial to the Holders not taking part in such direction, and

  

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

Section 5.13 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 waive any past default hereunder with respect to such series and its consequences, except a default not theretofore cured: 

 

	 	(1)	in the payment of the principal of (or premium, if any) or interest on any Security of such series, or in the payment of any sinking or purchase fund or analogous obligation with respect to the Securities of such
series, or 

  

	 	(2)	in respect of a covenant or provision hereof which under Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series. 

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 5.14 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 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 and expenses, against any party litigant in such
suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder,
or group of Securityholders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities of any series to which the suit relates, or to any suit instituted by any Securityholder for the enforcement of the payment of the
principal of (or premium, if any) or interest on an Security on or after the respective Stated Maturities expressed in such Security (or, in the case of redemption or repayment, on or after the Redemption Date or Repayment Date, as the case may be).

 Section 5.15 Waiver of Stay or Extension Laws. The Company covenants (to the extent that it may lawfully do so) that it will not
at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture; and the Company (to the extent that it may lawfully do so) hereby 

  
 39 

 
expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and
permit the execution of every such power as though no such law had been enacted. 
 ARTICLE VI 

The Trustee 
 Section 6.01
Certain Duties and Responsibilities 
 . 

(a) Except during the continuance of an Event of Default with respect to any series of Securities: 

 

	 	(1)	the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture with respect to the Securities of such series, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and 

  

	 	(2)	in the absence of bad faith on its part, the Trustee may, with respect to Securities of such series, conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the
Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).

 (b) In case an Event of Default with respect to any series of Securities has occurred and is continuing, the Trustee shall
exercise with respect to the Securities of such series such of the rights and powers vested in it by this Indenture and any indenture supplemental hereto or Board Resolution relating to such series of Securities, and use the same degree of care and
skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 
 (c) No
provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 

 

	 	(1)	this Subsection shall not be construed to limit the effect of Subsection (a) of this Section; 

  

	 	(2)	the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 

  
 40 

	 	(3)	the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding Securities
of any 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; and 

  

	 	(4)	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 it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 

(d) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Section. 
 Section 6.02 Notice of Defaults. Within 90
days after the occurrence of any default hereunder with respect to Securities of any series, the Trustee shall transmit by mail to all Securityholders of such series, as their names and addresses appear in the Security Register, notice of such
default hereunder known to the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on any Security of such series
or in the payment of any sinking or purchase fund installment or analogous obligation with respect to Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive
committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interests of the Securityholders of such series; and provided, further, that in the case of
any default of the character specified in Section 5.01(4) with respect to Securities of such series no such notice to Securityholders of such series shall be given until at least 90 days after the occurrence thereof. For the purpose of this
Section, the term “default”, with respect to Securities of any series, means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series. 

Section 6.03 Certain Rights of Trustee. Except as otherwise provided in Section 6.01: 

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

  
 41 

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

(e) 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 Securityholders pursuant to this Indenture, unless such Securityholders shall have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred
by it in compliance with such request or direction; 
 (f) 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 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, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or
attorney; 
 (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or
through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 

(h) the Trustee shall not be charged with knowledge of any default (as defined in Section 6.02) or Event of Default with respect to the
Securities of any series for which it is acting as Trustee unless either (1) a Responsible Officer of the Trustee assigned to the Corporate Trust Department of the Trustee (or any successor division or department of the Trustee) shall have
actual knowledge of such default or Event of Default or (2) written notice of such default or Event of Default shall have been given to the Trustee by the Company or any other obligor on such Securities or by any Holder of such Securities; 

(i) the Trustee shall not be liable for any action taken, suffered or omitted by it in good faith and believed by it to be authorized or
within the discretion or rights or powers conferred upon it by this Indenture; and 
 (j) the rights, privileges, protections, immunities
and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act
hereunder. 

  
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 Section 6.04 Not Responsible for Recitals or Issuance of Securities. The recitals
contained herein and in the Securities, except the certificates of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the
validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the use or application by the Company of Securities or the proceeds thereof. 

Section 6.05 May Hold Securities. The Trustee, any Authenticating Agent, any Paying Agent, the Security Registrar, any Conversion
Agent or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 6.08 and 6.13, may otherwise deal with the Company or any Guarantor, if applicable, with
the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar, Conversion Agent or such other agent. 

Section 6.06 Money Held in Trust. Subject to the provisions of Section 10.03 hereof, all moneys in any currency or currency
received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no
liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company. 
 Section 6.07
Compensation and Reimbursement. The Company agrees: 
  

	 	(1)	to pay to the Trustee from time to time reasonable compensation for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an
express trust); 

  

	 	(2)	except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this
Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as shall be determined to have been caused by its own negligence or bad faith; and

  

	 	(3)	to indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration
of this trust, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. 

  
 43 

 As security for the performance of the obligations of the Company under this Section the
Trustee shall have a lien prior to the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of (and premium, if any) or interest on particular Securities. 

When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 5.01(5) or (6), the
expenses and the compensation for the services are intended to constitute expenses of administration under any bankruptcy law. 
 The
Company’s obligations under this Section 6.07 and any lien arising hereunder shall survive the resignation or removal of any Trustee, the discharge of the Company’s obligations pursuant to Article IV of this Indenture and/or the
termination of this Indenture. 
 Section 6.08 Disqualification; Conflicting Interests. The Trustee for the Securities of any series
issued hereunder shall be subject to the provisions of Section 310(b) of the Trust Indenture Act during the period of time provided for therein. In determining whether the Trustee has a conflicting interest as defined in Section 310(b) of
the Trust Indenture Act with respect to the Securities of any series, there shall be excluded this Indenture with respect to Securities of any particular series of Securities other than that series. Nothing herein shall prevent the Trustee from
filing with the Commission the application referred to in the second to last paragraph of Section 310(b) of the Trust Indenture Act. 

Section 6.09 Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder with respect to each series of
Securities, which shall be either: 
 (i) a corporation organized and doing business under the laws of the United States of
America or of any State, authorized under such laws to exercise corporate trust powers and subject to supervision or examination by Federal or State authority, or 

(ii) a corporation or other Person organized and doing business under the laws of a foreign government that is permitted to
act as Trustee pursuant to a rule, regulation or order of the Commission, authorized under such laws to exercise corporate trust powers, and subject to supervision or examination by authority of such foreign government or a political subdivision
thereof substantially equivalent to supervision or examination applicable to United States institutional trustees; 
 in either case having a combined
capital and surplus of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section, the
combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. Neither the Company nor any Person directly or indirectly controlling,
controlled by, or under common control with the Company shall serve as trustee for the Securities of any series issued hereunder. If at any time the Trustee with respect to any series of Securities shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with the effect specified in Section 6.10. 

  
 44 

 Section 6.10 Resignation and Removal. 

(a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective
until the acceptance of appointment by the successor Trustee under Section 6.11. 
 (b) The Trustee may resign with respect to any
series of Securities at any time by giving written notice thereof to the Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the
resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
 (c) The Trustee may be
removed with respect to any series of Securities at any time by Act of the Holders of a majority in principal amount of the outstanding Securities of that series, delivered to the Trustee and to the Company. If an instrument of acceptance by a
successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of removal, the removed Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

(d) If at any time: 
  

	 	(1)	the Trustee shall fail to comply with Section 310(b) of the Trust Indenture Act pursuant to Section 6.08 with respect to any series of Securities after written request therefor by the Company or by any
Securityholder who has been a bona fide Holder of a Security of that series for at least six months, unless the Trustee’s duty to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act, or

  

	 	(2)	the Trustee shall cease to be eligible under Section 6.09 with respect to any series of Securities and shall fail to resign after written request therefor by the Company or by any such Securityholder, or

  

	 	(3)	the Trustee shall become incapable of acting with respect to any series of Securities, or 

  

	 	(4)	the Trustee shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs
for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company by a Board Resolution may remove the Trustee, with respect to the series, or in the case of clause (4), with respect to all series, or
(ii) subject to Section 5.14, any Securityholder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction
for the removal of the Trustee and the appointment of a successor Trustee with respect to the series, or, in the case of clause (4), with respect to all series. 

  
 45 

 (e) If the Trustee shall resign, be removed or become incapable of acting with respect to any
series of Securities, or if a vacancy shall occur in the office of the Trustee with respect to any series of Securities for any cause, the Company, by Board Resolution, shall promptly appoint a successor Trustee for that series of Securities. 

If, within one year after such resignation, removal or incapacity, or the occurrence of such vacancy, a successor Trustee with respect to such
series of Securities shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon
its acceptance of such appointment, become the successor Trustee with respect to such series and supersede the successor Trustee appointed by the Company with respect to such series. If no successor Trustee with respect to such series shall have
been so appointed by the Company or the Securityholders of such series and accepted appointment in the manner hereinafter provided, subject to Section 5.14, any Securityholder who has been a bona fide Holder of a Security of that series for at
least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to such series. 

(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to any series and each appointment of a
successor Trustee with respect to any series by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities of that series as their names and addresses appear in the Security Register. Each notice shall
include the name of the successor Trustee and the address of its principal Corporate Trust Office. 
 Section 6.11 Acceptance of
Appointment by Successor. Every successor Trustee appointed hereunder shall execute, acknowledge and deliver to the Company and to the predecessor Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the
predecessor Trustee shall become effective with respect to any series as to which it is resigning or being removed as Trustee, and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers,
trusts and duties of the predecessor Trustee with respect to any such series; but, on request of the Company or the successor Trustee, such predecessor Trustee shall, upon payment of its reasonable charges, if any, execute and deliver an instrument
transferring to such successor Trustee all the rights, powers and trusts of the predecessor Trustee, and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such predecessor trustee hereunder with respect
to all or any such series, subject nevertheless to its lien, if any, provided for in Section 6.07. Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and
confirming to such successor Trustee all such rights, powers and trusts. 
 In case of the appointment hereunder of a successor Trustee with
respect to the Securities of one or more (but not all) series, the Company, the predecessor Trustee and each successor Trustee with respect to the Securities of any applicable series shall execute and deliver

  
 46 

 
an indenture supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the predecessor Trustee
with respect to the Securities of any series as to which the predecessor Trustee is not being succeeded shall continue to be vested in the predecessor Trustee, and shall add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such indenture supplemental hereto shall constitute such Trustees co-trustees of the same trust and that
each such Trustee shall be Trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee. 

No successor Trustee with respect to any series of Securities shall accept its appointment unless at the time of such acceptance such
successor Trustee shall be qualified and eligible with respect to that series under this Article. 
 Section 6.12 Merger, Conversion,
Consolidation or Succession to Business. Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall
be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this
Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 

Section 6.13 Preferential Collection of Claims Against Company. The Trustee shall comply with TIA Section 311(a), excluding any
creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated. 

Section 6.14 Appointment of Authenticating Agent. At any time when any of the Securities remain Outstanding the Trustee, with the
approval of the Company, may appoint an Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon original
issuance, exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.06, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if
authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include
authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall
at all times be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to act as an Authenticating Agent, having a combined capital and
surplus of not less than $50,000,000 and, if other than the Company itself, subject to supervision or examination by Federal or State authority. If such 

  
 47 

 
Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section,
the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible
in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 

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

An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and, if other than the Company, to the Company.
The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and, if other than the Company, to the Company. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee, with the approval of the Company, may appoint a successor Authenticating Agent which shall be
acceptable to the Company and shall mail written notice of such appointment by first-class mail, postage prepaid, to all Holders of Securities of the series with respect to which such Authenticating Agent will serve, as their names and addresses
appear in the Security Register. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an
Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 
 The
Company agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section. 
 If an
appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternate certificate of authentication in
the following form: 
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

					
			[Name of Authenticating Agent]
			
			by		 
					As Authenticating Agent

  
 48 

					
			by		 
					As Authorized Agent
			
			Dated		
		 		 	  

 ARTICLE VII 

Securityholders’ Lists and Reports by 

Trustee and Company 

Section 7.01 Company to Furnish Trustee Names and Addresses of Securityholders. 

The Company will furnish or cause to be furnished to the Trustee: 
  

	 	(1)	semi-annually, not more than 15 days after December 15 and June 15 in each year in such form as the Trustee may reasonably require, a list of the names and addresses of the Holders of Securities of each series
as of such December 15 and June 15, as applicable, and 

  

	 	(2)	at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time
such list is furnished; provided, however, that if and so long as the Trustee shall be the Security Registrar for Securities of a series, no such list need be furnished with respect to such series of Securities. 

Section 7.02 Preservation of Information; Communications to Securityholders. 

(a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders of Securities contained
in the most recent list furnished to the Trustee as provided in Section 7.01 and the names and addresses of Holders of Securities received by the Trustee in its capacity as Security Registrar, if so acting. The Trustee may destroy any list
furnished to it as provided in Section 7.01 upon receipt of a new list so furnished. 
 (b) If three or more Holders of Securities of
any series (hereinafter referred to as “applicants”) apply in writing to the Trustee, and furnish to the Trustee reasonable proof that each such applicant has owned a Security of such series for a period of at least six months
preceding the date of such application, and such application states that the applicants desire to communicate with other Holders of Securities of such series or with the Holders of all Securities with respect to their rights under this Indenture or
under such Securities and is accompanied by a copy of the form of proxy or other communication which such applicants propose to transmit, then the Trustee shall, within five Business Days after the receipt of such application, at its election,
either: 
  

	 	(1)	afford such applicants access to the information preserved at the time by the Trustee in accordance with Section 7.02(a), or 

  
 49 

	 	(2)	inform such applicants as to the approximate number of Holders of Securities of such series or all Securities, as the case may be, whose names and addresses appear in the information preserved at the time by the Trustee
in accordance with Section 7.02(a), and as to the approximate cost of mailing to such Securityholders the form of proxy or other communication, if any, specified in such application. 

If the Trustee shall elect not to afford such applicants access to such information, the Trustee shall, upon the written request of such
applicants, mail to each Holder of a Security of such series or to all Securityholders, as the case may be, whose names and addresses appear in the information preserved at the time by the Trustee in accordance with Section 7.02(a), a copy of
the form of proxy or other communication which is specified in such request, with reasonable promptness after a tender to the Trustee of the material to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing,
unless, within five days after such tender, the Trustee shall mail to such applicants and file with the Commission, together with a copy of the material to be mailed, a written statement to the effect that, in the opinion of the Trustee, such
mailing would be contrary to the best interests of the Holders of Securities of such series or all Securityholders, as the case may be, or would be in violation of applicable law. Such written statement shall specify the basis of such opinion. If
the Commission, after opportunity for a hearing upon the objections specified in the written statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one or more of such
objections, the Commission shall find, after notice and opportunity for hearing, that all the objections so sustained have been met and shall enter an order so declaring, the Trustee shall mail copies of such material to all Securityholders of such
series or all Securityholders, as the case may be, with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the Trustee shall be relieved of any obligation or duty to such applicants respecting their
application. 
 (c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the
Company nor the Trustee shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders of Securities in accordance with Section 7.02(b), regardless of the source from which such
information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Section 7.02(b). 

Section 7.03 Reports by Trustee. 

(a) Within 60 days after May 15 of each year commencing with the first May 15 after the issuance of Securities, the Trustee shall
transmit by mail, at the Company’s expense, to all Holders as their names and addresses appear in the Security Register, as provided in Trust Indenture Act 313(c), a brief report dated as of May 15 in accordance with and with respect to
the matters required by Trust Indenture Act Section 313(a). 

  
 50 

 (b) The Trustee shall transmit by mail, at the Company’s expense, to all Holders as their
names and addresses appear in the Security Register, as provided in Trust Indenture Act 313(c), a brief report in accordance with and with respect to the matters required by Trust Indenture Act Section 313(b). 

(c) A copy of each such report shall, at the time of such transmission to Holders, be furnished to the Company and, in accordance with Trust
Indenture Act Section 313(d), be filed by the Trustee with each stock exchange upon which the Securities are listed, and also with the Commission. 

Section 7.04 Reports by Company. The Company shall file with the Trustee, and transmit to Holders, such information, documents and
other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant to such Act; provided that any such information, documents or reports required to be filed with the
Commission pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 shall be filed with the Trustee within 15 days after the same is so required to be filed with the Commission. The Company also shall comply with the other
provisions of Trust Indenture Act Section 314(a). Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any
information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates).

 ARTICLE VIII 

Consolidation, Merger, Conveyance or Transfer 

Section 8.01 Consolidation, Merger, Conveyance or Transfer on Certain Terms. Except as otherwise set forth in an indenture supplemental
hereto or Board Resolution creating such series of Securities or in the form of security for such Series, the Company shall not consolidate with or merge into any other Person or convey or transfer its properties and assets substantially as an
entirety to any Person, unless: 
  

	 	(1)	the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer the properties and assets of the Company substantially as an entirety shall be organized
and existing under the laws of the United States of America or any State thereof or the District of Columbia, and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to
the Trustee, the due and punctual payment of the principal of (and premium, if any) and interest on all the Securities and the performance of every covenant of this Indenture (as supplemented from time to time) on the part of the Company to be
performed or observed; 

  
 51 

	 	(2)	immediately after giving effect to such transaction, no Event of Default, and no event which, after notice or lapse of time, or both, would become an Event of Default, shall have happened and be continuing; and

  

	 	(3)	the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance or transfer and such indenture supplemental hereto comply with
this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 

Section 8.02 Successor Person Substituted. Upon any consolidation or merger, or any conveyance or transfer of the properties and assets
of the Company substantially as an entirety in accordance with Section 8.01, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance or transfer 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 had been named as the Company herein. In the event of any such conveyance or transfer, the Company as the
predecessor shall be discharged from all obligations and covenants under this Indenture and the Securities and may be dissolved, wound up or liquidated at any time thereafter. 

ARTICLE IX 
 Supplemental
Indentures 
 Section 9.01 Supplemental Indentures Without Consent of Securityholders. Except as otherwise set forth in an
indenture supplemental hereto or Board Resolution creating such series of Securities or in the form of Security for such series, without the consent of the Holders of any Securities, the Company, when authorized by a Board Resolution, and the
Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form reasonably satisfactory to the Trustee, for any of the following purposes: 

 

	 	(1)	to evidence the succession of another corporation or Person to the Company or any Guarantor, if any, and the assumption by any such successor of the respective covenants of the Company or any Guarantor herein and in the
Securities contained; or 

  

	 	(2)	to add to the covenants of the Company or any Guarantor, if any, or to surrender any right or power herein conferred upon the Company or any Guarantor, for the benefit of the Holders of the Securities of any or all
series (and if such covenants or the surrender of such right or power are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included or such surrenders are expressly being made solely for
the benefit of one or more specified series); or 

  
 52 

	 	(3)	to cure any ambiguity, to correct or supplement any provision herein which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this
Indenture; or 

  

	 	(4)	to add to this Indenture such provisions as may be expressly permitted by the TIA, excluding, however, the provisions referred to in Section 316(a)(2) of the TIA as in effect at the date as of which this instrument
was executed or any corresponding provision in any similar federal statute hereafter enacted; or 

  

	 	(5)	to establish any form of Security, as provided in Article II, to provide for the issuance of any series of Securities as provided in Article III and to set forth the terms thereof, and/or to add to the rights
of the Holders of the Securities of any series; or 

  

	 	(6)	to evidence and provide for the acceptance of appointment by another corporation as a successor Trustee hereunder with respect to one or more series of Securities 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, pursuant to Section 6.11; or 

 

	 	(7)	to add any additional Events of Default in respect of the Securities of any or all series (and if such additional Events of Default are to be in respect of less than all series of Securities, stating that such Events of
Default are expressly being included solely for the benefit of one or more specified series); provided, however, that in respect of any such additional Events of Default such indenture supplemental hereto may provide for a particular
period of grace after default (which period may be shorter or longer than that allowed in the case of other default) or may provide for an immediate enforcement upon such default or may limit the remedies available to the Trustee upon such default
or may limit the right of the Holders of a majority in aggregate principal amount of that or those series of Securities to which such additional Events of Default apply to waive such default; or 

 

	 	(8)	to provide for uncertificated Securities in addition to or in place of certificated Securities and to provide for bearer Securities; provided that uncertificated Securities are issued in registered form for purposes of
Section 163(f) of the Internal Revenue Code of 1986, as amended, or in a manner such that the uncertificated Securities are described in Section 163(f)(2)(B) of such Internal Revenue Code; or 

  
 53 

	 	(9)	to provide for the terms and conditions of conversion into Common Stock or other Marketable Securities of the Securities of any series which are convertible into Common Stock or other Marketable Securities, if different
from those set forth in Article XIII; or 

  

	 	(10)	to secure the Securities of any series; or 

  

	 	(11)	to add Guarantees in respect of any series or all of the Securities; or 

  

	 	(12)	to make any other change that does not adversely affect the rights of the Holders of any or all series of Securities; or 

  

	 	(13)	to make any change necessary to comply with any requirement of the Commission in connection with the qualification of this Indenture or any supplemental indenture under the Trust Indenture Act. 

Section 9.02 Supplemental Indentures with Consent of Securityholders. Except as otherwise set forth in an indenture supplemental hereto
or Board Resolution creating such series of Securities or in the form of security for such Series, with the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of all series affected by such
supplemental indenture or indentures (acting as one class), by Act of said Holders delivered to the Company and the Trustee (in accordance with Section 1.04 hereof), the Company, when authorized by a Board Resolution, and the Trustee may enter
into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of the
Securities of each such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby: 

 

	 	(1)	change the Maturity of the principal of, or the Stated Maturity of any premium on, or any installment of interest on, any Security (other than the provisions of any series of Securities which relate to the purchase or
repayment of such series of Securities upon the occurrence of a specified event), or reduce the principal amount thereof or the interest or any premium thereon, or change the method of computing the amount of principal thereof or interest thereon on
any date or change any Place of Payment where, or the coin or currency in which, any Security or any premium or interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Maturity or
the Stated Maturity, as the case may be, thereof (or, in the case of redemption or repayment, on or after the Redemption Date or the Repayment Date, as the case may be), or alter the provisions of this Indenture so as to affect adversely in any
material respect the terms, if any, of conversion of any Securities into Common Stock or other securities; or 

  
 54 

	 	(2)	reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any
waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences, provided for in this Indenture; or 

  

	 	(3)	modify any of the provisions of this Section 9.02, Section 5.13 or Section 10.06, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or
waived without the consent of the Holder of each Outstanding Security affected thereby; or 

  

	 	(4)	impair or adversely affect the right of any Holder to institute suit for the enforcement of any payment on, or with respect to, the Securities of any series on or after the Stated Maturity of such Securities (or in the
case of redemption, on or after the Redemption Date); 

  

	 	(5)	amend or modify Section 14.01 of this Indenture in any manner adverse in any material respect to the rights of the Holders of the Outstanding Securities of any series; or 

 

	 	(6)	make any change in the terms of the subordination of the Securities in a manner adverse in any material respect to the Holders of any series of Outstanding Securities. 

For purposes of this Section 9.02, if the Securities of any series are issuable upon the exercise of warrants, each holder of an
unexercised and unexpired warrant with respect to such series shall be deemed to be a Holder of Outstanding Securities of such series in the amount issuable upon the exercise of such warrant. For such purposes, the ownership of any such warrant
shall be determined by the Company in a manner consistent with customary commercial practices. The Trustee for such series shall be entitled to rely on an Officers’ Certificate as to the principal amount of Securities of such series in respect
of which consents shall have been executed by holders of such warrants. 
 A supplemental indenture which changes or eliminates any covenant
or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or
other provision, shall be deemed not to affect the rights under this Indenture of Holders of Securities of any other series. 
 It shall not
be necessary for any Act of Securityholders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

  
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 Section 9.03 Subordination Unimpaired. This Indenture may not be amended at any time to
alter the subordination, as provided herein, of any of the Securities then Outstanding without the written consent of the requisite holders of each series of debt securities representing Senior Indebtedness (as determined in accordance with terms of
the instrument governing such Senior Indebtedness) then outstanding that would be adversely affected thereby. 
 Section 9.04 Execution
of Supplemental Indentures. 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 6.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but
shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

Section 9.05 Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article, this Indenture
shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby to
the extent provided therein. 
 Section 9.06 Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant to
this Article shall conform to the requirements of TIA as then in effect. 
 Section 9.07 Reference in Securities to Supplemental
Indentures. Securities authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter
provided for in such supplemental indenture. If the Company shall so determine, new Securities so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any such supplemental indenture may be prepared and executed by
the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities. 
 ARTICLE X 

Covenants 
 Section 10.01
Payment of Principal, Premium and Interest. With respect to each series of Securities, the Company will duly and punctually pay the principal of (and premium, if any) and interest on such Securities in accordance with their terms and this
Indenture, and will duly comply with all the other terms, agreements and conditions contained in, or made in the Indenture for the benefit of, the Securities of such series. 

Section 10.02 Maintenance of Office or Agency. The Company will maintain an office or agency in each Place of Payment where Securities
may be presented or surrendered for payment, where Securities may be surrendered for registration of transfer or exchange, where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served and where any
Securities with conversion privileges may be presented and surrendered 

  
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for conversion. The Company will give prompt written notice to the Trustee of the location, and of any change in the location, of such office or agency. If at any time the Company shall fail to
maintain such office or agency or shall fail to furnish the Trustee with the 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 its agent to receive all such presentations, surrenders, notices and demands. 
 Unless otherwise set forth in, or pursuant to, a
Board Resolution or indenture supplemental hereto with respect to a series of Securities, the Company hereby initially designates as the Place of Payment for each series of Securities, the Borough of Manhattan, the City and State of New York,
and initially appoints the Trustee at its Corporate Trust Office as the Company’s office or agency for each such purpose in such city. 

Section 10.03 Money for Security Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent for any
series of Securities, it will, on or before each due date of the principal of (and premium, if any) or interest on, any of the Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to
pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure to act. 

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

The Company will cause each Paying Agent other than the Trustee for any series of Securities to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 
  

	 	(1)	hold all sums held by it for the payment of principal of (and premium, if any) or interest on Securities of such series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such
Persons or otherwise disposed of as herein provided; 

  

	 	(2)	give the Trustee notice of any default by the Company (or any other obligor upon the Securities of such series) in the making of any such payment of principal (and premium, if any) or interest on the Securities of such
series; and 

  

	 	(3)	at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 

  
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 The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this
Indenture with respect to any series of Securities or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent in respect of each and every series of
Securities as to which it seeks to discharge this Indenture or, if for any other purpose, all sums so held in trust by the Company in respect of all Securities, such sums to be held by the Trustee upon the same trusts as those upon which such sums
were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and
premium, if any) or interest on any Security of any series and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by
the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to
such trust money, and all liability of the Company as trustee thereof, shall thereupon cease. The Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company mail to the Holders of the Securities
as to which the money to be repaid was held in trust, as their names and addresses appear in the Security Register, a notice that such moneys remain unclaimed and that, after a date specified in the notice, which shall not be less than 30 days from
the date on which the notice was first mailed to the Holders of the Securities as to which the money to be repaid was held in trust, any unclaimed balance of such moneys then remaining will be paid to the Company free of the trust formerly impressed
upon it. 
 Section 10.04 Statement as to Compliance. The Company will deliver to the Trustee, within 120 days after the end of each
fiscal year, a written statement signed by the principal executive officer, principal financial officer or principal accounting officer of the Company stating that: 
  

	 	(1)	a review of the activities of the Company during such year and of performance under this Indenture and under the terms of the Securities has been made under his supervision; and 

 

	 	(2)	to the best of his knowledge, based on such review, the Company has fulfilled all its obligations under this Indenture and has complied with all conditions and covenants on its part contained in this Indenture through
such year, or, if there has been a default in the fulfillment of any such obligation, covenant or condition, specifying each such default known to him and the nature and status thereof. 

For the purpose of this Section 10.04, default and compliance shall be determined without regard to any grace period or requirement of
notice provided pursuant to the terms of this Indenture. 

  
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 Section 10.05 Legal Existence. Subject to Article VIII, the Company will do or cause
to be done all things necessary to preserve and keep in full force and effect its legal existence. 
 Section 10.06 Waiver of Certain
Covenants. The Company may omit in respect of any series of Securities, in any particular instance, to comply with any covenant or condition set forth in Section 10.05 or set forth in a Board Resolution or indenture supplemental hereto with
respect to the Securities of such series, unless otherwise specified in such Board Resolution or indenture supplemental hereto, if before or after the time for such compliance the Holders of not less than a majority in principal amount of the
Outstanding Securities of all series affected by such waiver (voting as one class) shall, by Act of such Securityholders delivered to the Company and the Trustee (in accordance with Section 1.04 hereof), either waive such compliance in such
instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations
of the Company and the duties of the Trustee in respect of any such covenant or condition shall remain in full force and effect. Nothing in this Section 10.06 shall permit the waiver of compliance with any covenant or condition set forth in
such Board Resolution or indenture supplemental hereto which, if in the form of an indenture supplemental hereto, would not be permitted by Section 9.02 without the consent of the Holder of each Outstanding Security affected thereby. 

ARTICLE XI 
 Redemption of
Securities 
 Section 11.01 Applicability of Article. The Company may reserve the right to redeem and pay before Stated Maturity
all or any part of the Securities of any series, either by optional redemption, sinking or purchase fund or analogous obligation or otherwise, by provision therefor in the form of Security for such series established and approved pursuant to
Section 2.02 and on such terms as are specified in such form or in the Board Resolution or indenture supplemental hereto with respect to Securities of such series as provided in Section 3.01. Redemption of Securities of any series shall be
made in accordance with the terms of such Securities and, to the extent that this Article does not conflict with such terms, the succeeding Sections of this Article. Notwithstanding anything to the contrary in this Indenture, except in the
case of redemption pursuant to a sinking fund, the Trustee shall not make any payment in connection with the redemption of Securities until the close of business on the Redemption Date. 

Section 11.02 Election to Redeem; Notice to Trustee. The election of the Company to redeem any Securities redeemable at the election of
the Company shall be evidenced by, or pursuant to authority granted by, a Board Resolution. In case of any redemption at the election of the Company of less than all of the Securities of any series, the Company shall, at least 45 days prior to the
Redemption Date fixed by the Company (unless a shorter notice shall be reasonably satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series and the Tranche (as defined in
Section 11.03) to be redeemed. 

  
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 In the case of any redemption of Securities (i) prior to the expiration of any restriction
on such redemption provided in the terms of such Securities or elsewhere in this Indenture, or (ii) pursuant to an election of the Company which is subject to a condition specified in the terms of such Securities, the Company shall furnish the
Trustee with an Officers’ Certificate evidencing compliance with such restriction or condition. 
 Section 11.03 Selection by
Trustee of Securities to Be Redeemed. If less than all the Securities of like tenor and terms of any series (a “Tranche”) are to be redeemed, the particular Securities to be redeemed shall be selected not more than 45 days prior
to the Redemption Date by the Trustee, from the Outstanding Securities of such Tranche not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may include provision for the selection for
redemption of portions of the principal of Securities of such Tranche of a denomination larger than the minimum authorized denomination for Securities of that series. Unless otherwise provided in the terms of a particular series of Securities, the
portions of the principal of Securities so selected for partial redemption shall be equal to the minimum authorized denomination of the Securities of such series, or an integral multiple thereof, and the principal amount which remains outstanding
shall not be less than the minimum authorized denomination for Securities of such series. If less than all the Securities of unlike tenor and terms of a series are to be redeemed, the particular Tranche of Securities to be redeemed shall be selected
by the Company. 
 If any convertible Security selected for partial redemption is converted in part before the termination of the conversion
right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. 

Upon any redemption of fewer than all the Securities of a series, the Company and the Trustee may treat as Outstanding any Securities
surrendered for conversion during the period of fifteen days next preceding the mailing of a notice of redemption, and need not treat as Outstanding any Security authenticated and delivered during such period in exchange for the unconverted portion
of any Security converted in part during such period. 
 The Trustee shall promptly notify the Company in writing of the Securities selected
for redemption and, in the case of any Security selected for partial redemption, the principal amount thereof to be redeemed. 
 Securities
shall be excluded from eligibility for selection for redemption if they are identified by registration and certificate number in a written statement signed by an authorized officer of the Company and delivered to the Trustee at least 45 days prior
to the Redemption Date (unless a shorter period shall be reasonably satisfactory to the Trustee) as being owned of record and beneficially by, and not pledged or hypothecated by either, (a) the Company or (b) an entity specifically
identified in such written statement as being an Affiliate of the Company. 
 For all purposes of this Indenture, unless the context
otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal of such Security which has been or is to be redeemed. 

  
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 Section 11.04 Notice of Redemption. Notice of redemption shall be given by first-class
mail, postage prepaid, mailed not less than 15 (unless otherwise provided in the Board Resolution or indenture supplemental hereto establishing the relevant series) nor more than 45 days prior to the Redemption Date, to each holder of Securities to
be redeemed, at his address appearing in the Security Register. 
 All notices of redemption shall state: 

 

	 	(1)	the Redemption Date; 

  

	 	(2)	the Redemption Price; 

  

	 	(3)	if less than all Outstanding Securities of any series are to be redeemed, the identification (and, in the case of partial redemption, the respective principal amounts) of the Securities to be redeemed;

  

	 	(4)	that on the Redemption Date the Redemption Price will become due and payable upon each such Security, and that interest, if any, thereon shall cease to accrue from and after said date; 

 

	 	(5)	the place where such Securities are to be surrendered for payment of the Redemption Price, which shall be the office or agency of the Company in the Place of Payment; 

 

	 	(6)	that the redemption is on account of a sinking or purchase fund, or other analogous obligation, if that be the case; 

  

	 	(7)	if such Securities are convertible into Common Stock or other securities, the Conversion Price or other conversion price and the date on which the right to convert such Securities into Common Stock or other securities
will terminate; and 

  

	 	(8)	if applicable, that the redemption may be rescinded by the Company, at its sole option, pursuant to Section 11.09 of this Indenture upon the occurrence of a Redemption Rescission Event or that the redemption is
subject to one or more conditions precedent. 

 Notice of redemption of Securities to be redeemed at the election of the
Company shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company; provided that if the Trustee is asked to give such notice it shall be given at least five Business Days prior
notice. 

  
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 Notice of any redemption may be given prior to the completion thereof, and any such redemption or
notice may, at the Company’s discretion, be subject to one or more conditions precedent, including, but not limited to, the completion of an equity or debt financing. 

Section 11.05 Deposit of Redemption Price. On or prior to any Redemption Date and subject to Section 11.09 and any applicable
conditions precedent to the redemption, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 10.03) an amount of money
sufficient to pay the Redemption Price of all the Securities which are to be redeemed on that date. If any Security to be redeemed is converted into Common Stock or other securities, any money so deposited with the Trustee or a Paying Agent shall be
paid to the Company upon Company Request or, if then so segregated and held in trust by the Company, shall be discharged from such trust. 

Section 11.06 Securities Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Securities so to be
redeemed shall, subject to Section 11.09, on the Redemption Date, become due and payable at the Redemption Price therein specified and from and after such date (unless the Company shall default in the payment of the Redemption Price) such
Securities shall cease to bear interest and any rights to convert such Securities shall terminate. Upon surrender of such Securities for redemption in accordance with the notice and subject to Section 11.09 and any applicable conditions
precedent to the redemption, such Securities shall be paid by the Company at the Redemption Price. Unless otherwise provided with respect to such Securities pursuant to Section 3.01, installments of interest the Stated Maturity of which is on
or prior to the Redemption Date shall be payable to the Holders of such Securities registered as such on the relevant Regular Record Dates according to their terms and the provisions of Section 3.07. 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, until paid, bear
interest from the Redemption Date at the rate borne by the Security, or as otherwise provided in such Security. 
 Section 11.07
Securities Redeemed in Part. Any Security which is to be redeemed only in part shall be surrendered at the office or agency of the Company in the Place of Payment with respect to that series (with, if the Company or the Trustee so requires,
due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing) and the Company shall execute and the Trustee shall
authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and Stated Maturity and of like tenor and terms, of any authorized denomination as requested by such Holder in aggregate
principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 
 Section 11.08
Provisions with Respect to Any Sinking Funds. Unless the form or terms of any series of Securities shall provide otherwise, in lieu of making all or any part of any mandatory sinking fund payment with respect to such series of Securities in
cash, the Company may at its option (1) deliver to the Trustee for cancellation any Securities of such series theretofore acquired by the Company or converted by the Holder thereof into Common Stock or 

  
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other securities, or (2) receive credit for any Securities of such series (not previously so credited) acquired by the Company (including by way of optional redemption (pursuant to the
sinking fund or otherwise but not by way of mandatory sinking fund redemption) or converted by the Holder thereof into Common Stock or other securities and theretofore delivered to the Trustee for cancellation, and if it does so then
(i) Securities so delivered or credited shall be credited at the applicable sinking fund Redemption Price with respect to Securities of such series, and (ii) on or before the 60th day next preceding each sinking fund Redemption Date with
respect to such series of Securities, the Company will deliver to the Trustee (A) an Officers’ Certificate specifying the portions of such sinking fund payment to be satisfied by payment of cash and by delivery or credit of Securities of
such series acquired by the Company or converted by the Holder thereof, and (B) such Securities, to the extent not previously surrendered. Such Officers’ Certificate shall also state the basis for such credit and that the Securities for
which the Company elects to receive credit have not been previously so credited and were not acquired by the Company through operation of the mandatory sinking fund, if any, provided with respect to such Securities and shall also state that no Event
of Default with respect to Securities of such series has occurred and is continuing. All Securities so delivered to the Trustee shall be canceled by the Trustee and no Securities shall be authenticated in lieu thereof. 

If the sinking fund payment or payments (mandatory or optional) with respect to any series of Securities made in cash plus any unused balance
of any preceding sinking fund payments with respect to Securities of such series made in cash shall exceed $50,000 (or a lesser sum if the Company shall so request), unless otherwise provided by the terms of such series of Securities, that cash
shall be applied by the Trustee on the sinking fund Redemption Date with respect to Securities of such series next following the date of such payment to the redemption of Securities of such series at the applicable sinking fund Redemption Price with
respect to Securities of such series, together with accrued interest, if any, to the date fixed for redemption, with the effect provided in Section 11.06. The Trustee shall select, in the manner provided in Section 11.03, for redemption on
such sinking fund Redemption Date a sufficient principal amount of Securities of such series to utilize that cash and shall thereupon cause notice of redemption of the Securities of such series for the sinking fund to be given in the manner provided
in Section 11.04 (and with the effect provided in Section 11.06) for the redemption of Securities in part at the option of the Company. Any sinking fund moneys not so applied or allocated by the Trustee to the redemption of Securities of
such series shall be added to the next cash sinking fund payment with respect to Securities of such series received by the Trustee and, together with such payment, shall be applied in accordance with the provisions of this Section 11.08. Any
and all sinking fund moneys with respect to Securities of any series held by the Trustee at the Maturity of Securities of such series, and not held for the payment or redemption of particular Securities of such series, shall be applied by the
Trustee, together with other moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Securities of such series at Maturity. 

On or before each sinking fund Redemption Date provided with respect to Securities of any series, the Company shall pay to the Trustee in cash
a sum equal to all accrued interest, if any, to the date fixed for redemption on Securities to be redeemed on such sinking fund Redemption Date pursuant to this Section 11.08. 

  
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 Section 11.09 Rescission of Redemption. In the event that this Section 11.09 is
specified to be applicable to a series of Securities pursuant to Section 3.01 and a Redemption Rescission Event shall occur following any day on which a notice of redemption shall have been given pursuant to Section 11.04 hereof but at or
prior to the time and date fixed for redemption as set forth in such notice of redemption, the Company may, at its sole option, at any time prior to the earlier of (i) the close of business on that day which is two Trading Days following such
Redemption Rescission Event and (ii) the close of business on that day which is one Trading Day before the redemption, rescind the redemption to which such notice of redemption shall have related by making a public announcement of such
rescission (the date on which such public announcement shall have been made being hereinafter referred to as the “Rescission Date”). The Company shall be deemed to have made such announcement if it shall issue a release to the Dow
Jones New Service, Reuters Information Services or any successor news wire service. From and after the making of such announcement, the Company shall have no obligation to redeem Securities called for redemption pursuant to such notice of redemption
or to pay the Redemption Price therefor and all rights of Holders of Securities shall be restored as if such notice of redemption had not been given. As promptly as practicable following the making of such announcement, the Company shall
telephonically notify the Trustee and the Paying Agent of such rescission. The Company shall give notice of any such rescission by first-class mail, postage prepaid, mailed as promptly as practicable but in no event later than the close of business
on that day which is five Trading Days following the Rescission Date to each Holder of Securities at the close of business on the Rescission Date, to any other Person that was a Holder of Securities and that shall have surrendered Securities for
conversion following the giving of notice of the subsequently rescinded redemption and to the Trustee and the Paying Agent. Each notice of rescission shall (w) state that the redemption described in the notice of redemption has been rescinded,
(x) state that any Converting Holder shall be entitled to rescind the conversion of Securities surrendered for conversion following the day on which notice of redemption was given but on or prior to the date of the mailing of the Company’s
notice of rescission, (y) be accompanied by a form prescribed by the Company to be used by any Converting Holder rescinding the conversion of Securities so surrendered for conversion (and instructions for the completion and delivery of such
form, including instructions with respect to any payment that may be required to accompany such delivery) and (z) state that such form must be properly completed and received by the Company no later than the close of business on a date that
shall be 15 Trading Days following the date of the mailing of such notice of rescission. 
 ARTICLE XII 

Subordination of Securities 

Section 12.01 Agreement of Subordination. The Company covenants and agrees, and each holder of Securities issued hereunder by his
acceptance thereof likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this Article XII; and each Securityholder, whether upon original issue or upon transfer or assignment thereof, accepts and agrees to
be bound by such provisions. 
 The payment of the principal of, premium, if any, and interest on all Securities issued hereunder shall, to
the extent and in the manner hereinafter set forth, be subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness, whether outstanding at the date of this Indenture or thereafter incurred. 

  
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 The provisions of this Article XII define the subordination of the Securities, as obligations of
the Company, with respect to Senior Indebtedness of the Company, as defined for the Company. All such provisions shall also be deemed to apply in the same way (mutatis mutandis) to each Guarantor, with appropriate corresponding references to the
Senior Indebtedness of such Guarantor. 
 No provision of this Article XII shall prevent the occurrence of any default or Event of Default
hereunder. 
 Section 12.02 Payments to Securityholders. In the event and during the continuation of any default in the payment of
principal, premium, interest or any other payment due on any Senior Indebtedness of the Company continuing beyond the period of grace, if any, specified in the instrument or lease evidencing such Senior Indebtedness of the Company, then, unless and
until such default shall have been cured or waived or shall have ceased to exist, no payment shall be made by the Company with respect to the principal of, or premium, if any, or interest on the Securities, except sinking fund payments made by the
acquisition of Securities under Section 11.08 prior to the happening of such default and payments made pursuant to Article IV hereof from monies deposited with the Trustee pursuant thereto prior to the happening of such default. 

Upon any payment by the Company, or distribution of assets of the Company of any kind or character, whether in cash, property or securities,
to creditors upon any dissolution or winding-up or liquidation or reorganization of the Company, whether voluntary or involuntary or in bankruptcy, insolvency, receivership or other proceedings, all amounts due or to become due upon all Senior
Indebtedness of the Company shall first be paid in full, or payment thereof provided for in money in accordance with its terms, before any payment is made on account of the principal (and premium, if any) or interest on the Securities (except
payments made pursuant to Article IV hereof from monies deposited with the Trustee pursuant thereto prior to the happening of such dissolution, winding-up, liquidation or reorganization); and upon any such dissolution or winding-up or liquidation or
reorganization any payment by the Company, or distribution of assets of the Company of and kind or character, whether in cash, property or securities, to which the holders of the Securities or the Trustee would be entitled, except for the provisions
of this Article XII, shall (except as aforesaid) be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by the holders of the Securities or by the Trustee
under this Indenture if received by them or it, directly to the holders of Senior Indebtedness of the Company (pro rata to such holders on the basis of the respective amounts of Senior Indebtedness of the Company held by such holders, as calculated
by the Company) or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior Indebtedness of the Company may have been issued, as their respective interests may
appear, to the extent necessary to pay all Senior Indebtedness of the Company in full, in money or money’s worth, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness of the Company, before
any payment or distribution is made to the holders of the Securities or to the Trustee. 

  
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 In the event that, notwithstanding the foregoing, any payment or distribution of assets of the
Company of any kind or character, whether in cash, property or securities, prohibited by the foregoing, shall be received by the Trustee or the holders of the Securities before all Senior Indebtedness of the Company is paid in full, or provision is
made for such payment in money in accordance with its terms, such payment or distribution shall be held in trust for the benefit of and shall be paid over or delivered to the holders of Senior Indebtedness of the Company or their representative or
representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior Indebtedness of the Company may have been issued, as their respective interests may appear, as calculated by the Company, for
application to the payment of all Senior Indebtedness of the Company remaining unpaid to the extent necessary to pay all Senior Indebtedness of the Company in full in money in accordance with its terms, after giving effect to any concurrent payment
or distribution to or for the holders of such Senior Indebtedness. 
 For purposes of this Article XII, the words, “cash, property or
securities” shall not be deemed to include shares of stock of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment, the payment of which is
subordinated at least to the extent provided in this Article XII with respect to the Securities to the payment of all Senior Indebtedness of the Company which may at the time be outstanding; provided that (i) the Senior Indebtedness of the
Company is assumed by the new corporation, if any, resulting from any such reorganization or readjustment, and (ii) the rights of the holders of the Senior Indebtedness of the Company (other than leases) and of leases which are assumed are not,
without the consent of such holders, altered by such reorganization or readjustment. The consolidation of the Company with, or the merger of the Company into, another corporation or the liquidation or dissolution of the Company following the
conveyance or transfer of its property as an entirety, or substantially as an entirety, to another corporation upon the terms and conditions provided for in Article 8 hereof shall not be deemed a dissolution, winding-up, liquidation or
reorganization for the purposes of this Section 12.02 if such other corporation shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in Article 8 hereof. Nothing in this Section 12.02
shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.07. 
 Section 12.03 Subrogation of
Securities. Subject to the payment in full of all Senior Indebtedness of the Company, the rights of the holders of the Securities shall be subrogated to the rights of the holders of Senior Indebtedness of the Company to receive payments or
distributions of cash, property or securities of the Company applicable to the Senior Indebtedness of the Company until the principal of (and premium, if any) and interest on the Securities shall be paid in full; and, for the purposes of such
subrogation, no payments or distributions to the holders of the Senior Indebtedness of the Company of any cash, property or securities to which the holders of the Securities or the Trustee would be entitled except for the provisions of this Article
XII no payment over pursuant to the provisions of this Article XII, to or for the benefit of the holders of Senior Indebtedness of the Company by holders of the Securities or the Trustee, shall, as between the Company, its creditors other than
holders of Senior Indebtedness of the Company, and the holders of the Securities, be deemed to be a payment by the Company to or on account of the Senior Indebtedness of the Company. It is understood that the provisions of this Article XII are and
are intended solely for the purpose of defining the relative rights of the holders of the Securities, on the one hand, and the holders of the Senior Indebtedness of the Company, on the other hand. 

  
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 Nothing contained in this Article XII or elsewhere in this Indenture or in the Securities is
intended to or shall impair, as between the Company, its creditors other than the holders of its Senior Indebtedness, and the holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the holders of the
Securities the principal of (and premium, if any) and interest on the Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the holders of the Securities
and creditors of the Company other than the holders of its Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the holder of any Security from exercising all remedies otherwise permitted by applicable law upon default
under this Indenture, subject to the rights, if any, under this Article XII of the holders of Senior Indebtedness of the Company in respect of cash, property or securities of the Company received upon the exercise of any such remedy. 

Upon any payment or distribution of assets of the Company referred to in this Article XII, the Trustee, subject to the provisions of
Section 6.01, and the holders of the Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such dissolution, winding-up, liquidation or reorganization proceedings are pending, or a
certificate of the receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, delivered to the Trustee or to the holders of the Securities, for the purpose of ascertaining the Persons entitled to
participate in such distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this
Article XII. 
 Section 12.04 Authorization by Securityholders. Each holder of a Security by his acceptance thereof authorizes and
directs the Trustee in his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article XII appoints the Trustee his attorney-in-fact for any and all such purposes. 

Section 12.05 Notice to Trustee. The Company shall give promptly written notice to a Responsible Officer of the Trustee of any fact
known to the Company which would prohibit the making of any payment of monies to or by the Trustee in respect of the Securities pursuant to the provisions of this Article XII. Notwithstanding the provisions of this Article XII or any other provision
of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the making of any payment of monies to or by the Trustee in respect of the Securities pursuant to the provisions of this Article
XII, unless and until a Responsible Officer of the Trustee shall have received written notice thereof at the Corporate Trust Office of the Trustee from the Company or a holder or holders of Senior Indebtedness or from any trustee therefor; and
before the receipt of any such written notice, the Trustee, subject to the provisions of Section 6.01, shall be entitled in all respects to assume that no such facts exist; provided that if on a date not fewer than three Business Days prior to
the date upon which by the terms hereof any such monies may become payable for any purpose (including, without limitation, the payment of the principal of (or premium, if any) or interest on any Security) the Trustee shall not have received, with
respect to such monies, the notice provided for in this 

  
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Section 12.05, then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive such monies and to apply the same to the purpose
for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such prior date. 

Notwithstanding anything to the contrary hereinbefore set forth, nothing shall prevent any payment by the Company or the Trustee to the
Securityholders of monies in connection with a redemption of Securities if (i) notice of such redemption has been given pursuant to Article XI or Section 4.01 hereof prior to the receipt by the Trustee of written notice as aforesaid, and
(ii) such notice of redemption is given not earlier than 60 days before the redemption date. 
 The Trustee conclusively shall be
entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness of the Company (or a trustee on behalf of such holder) to establish that such notice has been given by a holder of
Senior Indebtedness of the Company or a trustee on behalf of any such holder or holders. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior
Indebtedness of the Company to participate in any payment or distribution pursuant to this Article XII, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness of
the Company held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article XII, and if such evidence is not furnished the
Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. 

Section 12.06 Trustee’s Relation to Senior Indebtedness. The Trustee in its individual capacity shall be entitled to all the
rights set forth in this Article XII in respect of any Senior Indebtedness of the Company at any time held by it, to the same extent as any other holder of Senior Indebtedness of the Company and nothing elsewhere in this Indenture shall deprive the
Trustee of any of its rights as such holder. 
 With respect to the holders of Senior Indebtedness of the Company, the Trustee undertakes to
perform or to observe only such of its covenants and obligations as are specifically set forth in this Article XII, and no implied covenants or obligations with respect to the holders of Senior Indebtedness of the Company shall be read into this
Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness of the Company and the Trustee shall not be liable to any holder of Senior Indebtedness of the Company if it shall pay
over or deliver to holders of Securities, the Company or any other Person money or assets to which any holder of Senior Indebtedness of the Company shall be entitled by virtue of this Article XII or otherwise. 

Section 12.07 No Impairment of Subordination. No right of any present or future holder of any Senior Indebtedness to enforce
subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the
Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof which any such holder may have or otherwise be charge with. 

  
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 Section 12.08 Rights of Trustee. Nothing in this Article XII shall apply to claims of or
payments to, the Trustee pursuant to Section 6.07 or 4.02. 
 Section 12.09 Article XII Applicable to Paying Agents. The term
“Trustee” as used in this Article XII, shall (unless the context otherwise requires) be construed as extending to and including the Paying Agent within its meaning as fully for all intents and purposes as if the Paying Agent were named in
this Article XII in addition to in place of the Trustee; provided, however, that Sections 12.06 and 12.08 shall not apply to the Company or any Affiliate of the Company if it or such Affiliate acts as Paying Agent. 

ARTICLE XIII 
 Conversion

 Section 13.01 Conversion Privilege. In the event that this Article XIII is specified to be applicable to a series of
Securities pursuant to Section 3.01, the Holder of a Security of such series shall have the right, at such Holder’s option, to convert, in accordance with the terms of such series of Securities and this Article XIII, all or any part
(in a denomination of, unless otherwise specified in a Board Resolution or indenture supplemental hereto with respect to Securities of such series, $2,000 in principal amount or any integral multiple of $1,000 in excess of $2,000) of such Security
into shares of Common Stock or other Marketable Securities specified in such Board Resolution or any indenture supplement hereto at any time or, as to any Securities called for redemption, at any time prior to the time and date fixed for such
redemption (unless the Company shall default in the payment of the Redemption Price, in which case such right shall not terminate at such time and date). 

Section 13.02 Conversion Procedure; Rescission of Conversion; Conversion Price; Fractional Shares. 

(a) Each Security to which this Article is applicable shall be convertible at the office of the Conversion Agent, and at such other place
or places, if any, specified in a Board Resolution with respect to the Securities of such series, into fully paid and nonassessable shares (calculated to the nearest 1/100th of a share) of Common Stock or other Marketable Securities. The Securities
will be converted into shares of Common Stock or such other Marketable Securities at the Conversion Price therefor. No payment or adjustment shall be made in respect of dividends on the Common Stock or such other Marketable Securities, or accrued
interest on a converted Security except as described in Section 13.09. The Company may, but shall not be required, in connection with any conversion of Securities, to issue a fraction of a share of Common Stock or of such other Marketable
Security, and, if the Company shall determine not to issue any such fraction, the Company shall, subject to Section 13.03(4), make a cash payment (calculated to the nearest cent) equal to such fraction multiplied by the Closing Price of the
Common Stock or such other Marketable Security on the last Trading Day prior to the date of conversion. 

  
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 (b) Before any Holder of a Security shall be entitled to convert the same into Common Stock or
other Marketable Securities, such Holder shall surrender such Security duly endorsed to the Company or in blank, at the office of the Conversion Agent or at such other place or places, if any, specified in a Board Resolution or indenture
supplemental hereto with respect to the Securities of such series, and shall give written notice to the Company at said office or place that he elects to convert the same and shall state in writing therein the principal amount of Securities to be
converted and the name or names (with addresses) in which he wishes the certificate or certificates for Common Stock or for such other Marketable Securities to be issued; provided, however, that no Security or portion thereof shall be accepted for
conversion unless the principal amount of such Security or such portion, when added to the principal amount of all other Securities or portions thereof then being surrendered by the Holder thereof for conversion, exceeds the then effective
Conversion Price with respect thereto. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares of Common Stock or such other Marketable Securities which shall be deliverable upon
conversion shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof to the extent permitted thereby) so surrendered. Subject to the next succeeding sentence, the Company will, as soon as
practicable thereafter, issue and deliver at said office or place to such Holder of a Security, or to his nominee or nominees, certificates for the number of full shares of Common Stock or other Marketable Security to which he shall be entitled as
aforesaid, together, subject to the last sentence of paragraph (a) above, with cash in lieu of any fraction of a share to which he would otherwise be entitled. The Company shall not be required to deliver certificates for shares of Common Stock
or other Marketable Securities while the stock transfer books for such stock or the transfer books for such Marketable Securities, as the case may be, or the Security Register are duly closed for any purpose, but certificates for shares of Common
Stock or other Marketable Securities shall be issued and delivered as soon as practicable after the opening of such books or Security Register. A Security shall be deemed to have been converted as of the close of business on the date of the
surrender of such Security for conversion as provided above, and the person or persons entitled to receive the Common Stock or other Marketable Securities issuable upon such conversion shall be treated for all purposes as the record Holder or
Holders of such Common Stock or other Marketable Securities as of the close of business on such date. In case any Security shall be surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate and deliver to or
upon the written order of the Holder of the Securities so surrendered, without charge to such Holder (subject to the provisions of Section 13.08), a new Security or Securities in authorized denominations in an aggregate principal amount equal
to the unconverted portion of the surrendered Security. 
 (c) Notwithstanding anything to the contrary contained herein, in the event the
Company shall have rescinded a redemption of Securities pursuant to Section 11.09 hereof, any Holder of Securities that shall have surrendered Securities for conversion following the day on which notice of the subsequently rescinded redemption
shall have been given but prior to the later of (a) the close of business on the Trading Day next succeeding the date on which public announcement of the rescission of such redemption shall have been made and (b) the date of the mailing of
the notice of rescission required by Section 11.09 hereof (a “Converting Holder”) may rescind the conversion of such Securities surrendered for conversion by (i) properly completing a form prescribed by the Company and
mailed to Holders of Securities (including Converting Holders) with the Company’s notice of rescission, which form 

  
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shall provide for the certification by any Converting Holder rescinding a conversion on behalf of any beneficial owner (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934)
of Securities that the beneficial ownership (within the meaning of such Rule) of such Securities shall not have changed from the date on which such Securities were surrendered for conversion to the date of such certification and (ii) delivering
such form to the Company no later than the close of business on that date which is fifteen Trading Days following the date of the mailing of the Company’s notice of rescission. The delivery of such form by a Converting Holder shall be
accompanied by (x) any certificates representing shares of Common Stock or other securities issued to such Converting Holder upon a conversion of Securities that shall be rescinded by the proper delivery of such form (the “Surrendered
Securities”), (y) any securities, evidences of indebtedness or assets (other than cash) distributed by the Company to such Converting Holder by reason of such Converting Holder being a record holder of Surrendered Securities and
(z) payment in New York Clearing House funds or other funds acceptable to the Company of an amount equal to the sum of (I) any cash such Converting Holder may have received in lieu of the issuance of fractional Surrendered Securities
and (II) any cash paid or payable by the Company to such Converting Holder by reason of such Converting Holder being a record holder of Surrendered Securities. Upon receipt by the Company of any such form properly completed by a Converting Holder
and any certificates, securities, evidences of indebtedness, assets or cash payments required to be returned by such Converting Holder to the Company as set forth above, the Company shall instruct the transfer agent or agents for shares of Common
Stock or other securities to cancel any certificates representing Surrendered Securities (which Surrendered Securities shall be deposited in the treasury of the Company) and shall instruct the Registrar to reissue certificates representing
Securities to such Converting Holder (which Securities shall be deemed to have been outstanding at all times during the period following their surrender for conversion). The Company shall, as promptly as practicable, and in no event more than five
Trading Days following the receipt of any such properly completed form and any such certificates, securities, evidences of indebtedness, assets or cash payments required to be so returned, pay to the Holder of Securities surrendered to the Company
pursuant to a rescinded conversion or as otherwise directed by such Holder any interest paid or other payment made to Holders of Securities during the period from the time such Securities shall have been surrendered for conversion to the rescission
of such conversion. All questions as to the validity, form, eligibility (including time of receipt) and acceptance of any form submitted to the Company to rescind the conversion of Securities, including questions as to the proper completion or
execution of any such form or any certification contained therein, shall be resolved by the Company, whose determination shall be final and binding. 

Section 13.03 Adjustment of Conversion Price for Common Stock or Marketable Securities. The Conversion Price with respect to any
Security which is convertible into Common Stock or other Marketable Securities shall be adjusted from time to time as follows: 
  

	 	(1)	 In case the Company shall, at any time or from time to time while any of such Securities are outstanding, (i) pay a dividend in shares of its
Common Stock or other Marketable Securities, (ii) combine its outstanding shares of Common Stock or other Marketable Securities into a smaller number of shares or securities, (iii) subdivide its outstanding shares of Common Stock or other
Marketable Securities or (iv) issue by reclassification of its shares 

  
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of Common Stock or other Marketable Securities any shares of stock or other Marketable Securities of the Company, then the Conversion Price in effect immediately before such action shall be
adjusted so that the Holders of such Securities, upon conversion thereof into Common Stock or other Marketable Securities immediately following such event, shall be entitled to receive the kind and amount of shares of capital stock of the Company or
other Marketable Securities which they would have owned or been entitled to receive upon or by reason of such event if such Securities had been converted immediately before the record date (or, if no record date, the effective date) for such event.
An adjustment made pursuant to this Section 13.03(1) shall become effective retroactively immediately after the record date in the case of a dividend or distribution and shall become effective retroactively immediately after the effective date
in the case of a subdivision, combination or reclassification. For the purposes of this Section 13.03(1), each Holder of Securities shall be deemed to have failed to exercise any right to elect the kind or amount of securities receivable upon
the payment of any such dividend, subdivision, combination or reclassification (provided that if the kind or amount of securities receivable upon such dividend, subdivision, combination or reclassification is not the same for each nonelecting share,
then the kind and amount of securities or other property receivable upon such dividend, subdivision, combination or reclassification for each nonelecting share shall be deemed to be the kind and amount so receivable per share by a plurality of the
nonelecting shares). 

  

	 	(2)	 In case the Company shall, at any time or from time to time while any of such Securities are outstanding, issue rights or warrants to all holders of
shares of its Common Stock or other Marketable Securities entitling them (for a period expiring within 45 days after the record date for such issuance) to subscribe for or purchase shares of Common Stock or other Marketable Securities (or securities
convertible into shares of Common Stock or other Marketable Securities) at a price per share less than the Current Market Price of the Common Stock or other Marketable Securities at such record date (treating the price per share of the securities
convertible into Common Stock or other Marketable Securities as equal to (x) the sum of (i) the price for a unit of the security convertible into Common Stock or other Marketable Securities plus (ii) any additional consideration
initially payable upon the conversion of such security into Common Stock or other Marketable Securities divided by (y) the number of shares of Common Stock or other Marketable Securities initially underlying such convertible security), the
Conversion Price with respect to such Securities shall be adjusted so that it shall equal the price 

  
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determined by dividing the Conversion Price in effect immediately prior to the date of issuance of such rights or warrants by a fraction, the numerator of which shall be the number of shares of
Common Stock or other Marketable Securities outstanding on the date of issuance of such rights or warrants plus the number of additional shares of Common Stock or other Marketable Securities offered for subscription or purchase (or into which the
convertible securities so offered are initially convertible), and the denominator of which shall be the number of shares of Common Stock or other Marketable Securities outstanding on the date of issuance of such rights or warrants plus the number of
shares or securities which the aggregate offering price of the total number of shares or securities so offered for subscription or purchase (or the aggregate purchase price of the convertible securities so offered plus the aggregate amount of any
additional consideration initially payable upon conversion of such Securities into Common Stock or other Marketable Securities) would purchase at such Current Market Price of the Common Stock or other Marketable Securities. Such adjustment shall
become effective retroactively immediately after the record date for the determination of stockholders entitled to receive such rights or warrants. 

  

	 	(3)	 In case the Company shall, at any time or from time to time while any of such Securities are outstanding, distribute to all holders of shares of its
Common Stock or other Marketable Securities (including any such distribution made in connection with a consolidation or merger in which the Company is the continuing corporation and the Common Stock or other Marketable Securities are not changed or
exchanged) cash, evidences of its indebtedness, securities or assets (excluding (i) regular periodic cash dividends in amounts, if any, determined from time to time by the Board of Directors, (ii) in dividends payable in shares of Common
Stock or other Marketable Securities for which adjustment is made under Section 13.03(1) or (iii) rights or warrants to subscribe for or purchase securities of the Company (excluding those referred to in Section 13.03(2)), then in
each such case the Conversion Price with respect to such Securities shall be adjusted so that it shall equal the price determined by dividing the Conversion Price in effect immediately prior to the date of such distribution by a fraction, the
numerator of which shall be the Current Market Price of the Common Stock or other Marketable Securities on the record date referred to below, and the denominator of which shall be such Current Market Price of the Common Stock or other Marketable
Securities less the then fair market value (as determined by the Board of Directors of the Company, whose determination shall be conclusive) of the portion of the cash or assets or evidences of indebtedness or securities so distributed or of such
subscription 

  
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rights or warrants applicable to one share of Common Stock or one other Marketable Security (provided that such denominator shall never be less than 1.0); provided, however, that no adjustment
shall be made with respect to any distribution of rights to purchase securities of the Company if a Holder of Securities would otherwise be entitled to receive such rights upon conversion at any time of such Securities into Common Stock or other
Marketable Securities unless such rights are subsequently redeemed by the Company, in which case such redemption shall be treated for purposes of this Section as a dividend on the Common Stock or other Marketable Securities. Such adjustment
shall become effective retroactively immediately after the record date for the determination of stockholders or holders of Marketable Securities entitled to receive such distribution; and in the event that such distribution is not so made, the
Conversion Price shall again be adjusted to the Conversion Price which would then be in effect if such record date had not been fixed. 

  

	 	(4)	The Company shall be entitled to make such additional adjustments in the Conversion Price, in addition to those required by subsections 13.03(1), 13.03(2) and 13.03(3), as shall be necessary in order that any dividend
or distribution of Common Stock or other Marketable Securities, any subdivision, reclassification or combination of shares of Common Stock or other Marketable Securities or any issuance of rights or warrants referred to above shall not be taxable to
the holders of Common Stock or other Marketable Securities for United States Federal income tax purposes. 

  

	 	(5)	In any case in which this Section 13.03 shall require that any adjustment be made effective as of or retroactively immediately following a record date, the Company may elect to defer (but only for five Trading Days
following the filing of the statement referred to in Section 13.05) issuing to the Holder of any Securities converted after such record date the shares of Common Stock and other capital stock of the Company or other Marketable Securities
issuable upon such conversion over and above the shares of Common Stock and other capital stock of the Company or other Marketable Securities issuable upon such conversion on the basis of the Conversion Price prior to adjustment; provided, however,
that the Company shall deliver to such Holder a due bill or other appropriate instrument evidencing such Holder’s right to receive such additional shares upon the occurrence of the event requiring such adjustment. 

 

	 	(6)	 All calculations under this Section 13.03 shall be made to the nearest cent or one-hundredth of a share or security, with one-half

  
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cent and.005 of a share, respectively, being rounded upward. Notwithstanding any other provision of this Section 13.03, the Company shall not be required to make any adjustment of the
Conversion Price unless such adjustment would require an increase or decrease of at least 1% of such price. Any lesser adjustment shall be carried forward and shall be made at the time of and together with the next subsequent adjustment which,
together with any adjustment or adjustments so carried forward, shall amount to an increase or decrease of at least 1% in such price. Any adjustments under this Section 13.03 shall be made successively whenever an event requiring such an
adjustment occurs. 

  

	 	(7)	In the event that at any time, as a result of an adjustment made pursuant to this Section 13.03, the Holder of any Security thereafter surrendered for conversion shall become entitled to receive any shares of stock
of or other Marketable Securities of the Company other than shares of Common Stock or Marketable Securities into which the Securities originally were convertible, the Conversion Price of such other shares or Marketable Securities so receivable upon
conversion of any such Security shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to Common Stock and Marketable Securities contained in subparagraphs
(1) through (6) of this Section 13.03, and the provision of Sections 13.01, 13.02 and 13.04 through 13.09 with respect to the Common Stock or other Marketable Securities shall apply on like or similar terms to any such other
shares or Marketable Securities and the determination of the Board of Directors as to any such adjustment shall be conclusive. 

  

	 	(8)	No adjustment shall be made pursuant to this Section (i) if the effect thereof would be to reduce the Conversion Price below the par value (if any) of the Common Stock or other Marketable Security, if any, or
(ii) subject to Section 13.03(5) hereof, with respect to any Security that is converted prior to the time such adjustment otherwise would be made. 

Section 13.04 Consolidation or Merger of the Company. In case of either (a) any consolidation or merger to which the Company is a
party, other than a merger or consolidation in which the Company is the surviving or continuing corporation and which does not result in a reclassification of, or change (other than a change in par value or from par value to no par value or from no
par value to par value, as a result of a subdivision or combination) in, outstanding shares of Common Stock or other Marketable Securities or (b) any sale or conveyance of all or substantially all of the property and assets of the Company to
another Person, then each Security then Outstanding shall be convertible from and after such merger, consolidation, sale or conveyance of property and assets into the kind and amount of shares of stock or other securities and property (including
cash) receivable upon such consolidation, merger, sale or conveyance by 

  
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a holder of the number of shares of Common Stock or other Marketable Securities into which such Securities would have been converted immediately prior to such consolidation, merger, sale or
conveyance, subject to adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article XIII (and assuming such holder of Common Stock or other Marketable Securities failed to exercise his
rights of election, if any, as to the kind or amount of securities, cash or other property (including cash) receivable upon such consolidation, merger, sale or conveyance (provided that, if the kind or amount of securities, cash or other property
(including cash) receivable upon such consolidation, merger, sale or conveyance is not the same for each nonelecting share, then the kind and amount of securities, cash or other property (including cash) receivable upon such consolidation, merger,
sale or conveyance for each nonelecting share, shall be deemed to be the kind and amount so receivable per share by a plurality of the nonelecting shares or securities)). The Company shall not enter into any of the transactions referred to in clause
(a) or (b) of the preceding sentence unless effective provision shall be made so as to give effect to the provisions set forth in this Section 13.04. The provisions of this Section 13.04 shall apply similarly to successive
consolidations, mergers, sales or conveyances. 
 Section 13.05 Notice of Adjustment. Whenever an adjustment in the Conversion Price
with respect to a series of Securities is required: 
  

	 	(1)	the Company shall forthwith place on file with the Trustee and any Conversion Agent for such Securities a certificate of the Treasurer of the Company, stating the adjusted Conversion Price determined as provided herein
and setting forth in reasonable detail such facts as shall be necessary to show the reason for and the manner of computing such adjustment, such certificate to be conclusive evidence that the adjustment is correct; and 

 

	 	(2)	a notice stating that the Conversion Price has been adjusted and setting forth the adjusted Conversion Price shall forthwith be mailed, first class postage prepaid, by the Company to the Holders of record of such
Outstanding Securities. 

 Section 13.06 Notice in Certain Events. In case: 

 

	 	(1)	of a consolidation or merger to which the Company is a party and for which approval of any stockholders of the Company is required, or of the sale or conveyance to another person or entity or group of persons or
entities acting in concert as a partnership, limited partnership, syndicate or other group (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934) of all or substantially all of the property and assets of the Company; or

  

	 	(2)	of the voluntary or involuntary dissolution, liquidation or winding up of the Company; or 

  
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	 	(3)	of any action triggering an adjustment of the Conversion Price pursuant to this Article XIII; 

 then, in
each case, the Company shall cause to be filed with the Trustee and the Agent for the applicable Securities, and shall cause to be mailed, first class postage prepaid, to the Holders of record of applicable Securities, at least fifteen
(15) days prior to the applicable date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of any distribution or grant of rights or warrants triggering an adjustment to the Conversion
Price pursuant to this Article XIII, or, if a record is not to be taken, the date as of which the holders of record of Common Stock or other Marketable Securities entitled to such distribution, rights or warrants are to be determined, or
(y) the date on which any reclassification, consolidation, merger, sale, conveyance, dissolution, liquidation or winding up triggering an adjustment to the Conversion Price pursuant to this Article XIII is expected to become effective, and
the date as of which it is expected that holders of Common Stock or other Marketable Securities of record shall be entitled to exchange their Common Stock or other Marketable Securities for securities or other property deliverable upon such
reclassification, consolidation, merger, sale, conveyance, dissolution, liquidation or winding up. 
 Failure to give such notice or any
defect therein shall not affect the legality or validity of the proceedings described in clause (1), (2) or (3) of this Section. 

Section 13.07 Company to Reserve Stock or other Marketable Securities; Registration; Listing. 

(a) The Company shall at all times reserve and keep available, free from preemptive rights, out of its authorized but unissued shares of
Common Stock or other Marketable Securities, for the purpose of effecting the conversion of the Securities, such number of its duly authorized shares of Common Stock or number or principal amount of other Marketable Securities as shall from time to
time be sufficient to effect the conversion of all applicable outstanding Securities into such Common Stock or other Marketable Securities at any time (assuming that, at the time of the computation of such number of shares or securities, all such
Securities would be held by a single Holder); provided, however, that nothing contained herein shall preclude the Company from satisfying its obligations in respect of the conversion of the Securities by delivery of purchased shares of Common Stock
or other Marketable Securities which are held in the treasury of the Company. The Company shall from time to time, in accordance with the laws of the State of Delaware, use its commercially reasonable efforts to cause the authorized amount of the
Common Stock or other Marketable Securities to be increased if the aggregate of the authorized amount of the Common Stock or other Marketable Securities remaining unissued and the issued shares of such Common Stock or other Marketable Securities in
its treasury (other than any such shares reserved for issuance in any other connection) shall not be sufficient to permit the conversion of all Securities. 

(b) If any shares of Common Stock or other Marketable Securities which would be issuable upon conversion of Securities hereunder require
registration with or approval of any governmental authority before such shares or securities may be issued upon such conversion, the Company will in good faith and as expeditiously as possible endeavor to cause such shares or securities to be duly
registered or approved, as the case may be. The Company 

  
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will endeavor to list the shares of Common Stock or other Marketable Securities required to be delivered upon conversion of the Securities prior to such delivery upon the principal national
securities exchange upon which the outstanding Common Stock or other Marketable Securities is listed at the time of such delivery. 

Section 13.08 Taxes on Conversion. The Company shall pay any and all documentary, stamp or similar issue or transfer taxes that may be
payable in respect of the issue or delivery of shares of Common Stock or other Marketable Securities on conversion of Securities pursuant hereto. The Company shall not, however, be required to pay any such tax which may be payable in respect of any
transfer involved in the issue or delivery of shares of Common Stock or other Marketable Securities or the portion, if any, of the Securities which are not so converted in a name other than that in which the Securities so converted were registered,
and no such issue or delivery shall be made unless and until the person requesting such issue has paid to the Company the amount of such tax or has established to the satisfaction of the Company that such tax has been paid. 

Section 13.09 Conversion After Record Date. If any Securities are surrendered for conversion subsequent to the record date preceding an
Interest Payment Date but on or prior to such Interest Payment Date (except Securities called for redemption on a Redemption Date between such record date and Interest Payment Date), the Holder of such Securities at the close of business on such
record date shall be entitled to receive the interest payable on such securities on such Interest Payment Date notwithstanding the conversion thereof. Securities surrendered for conversion during the period from the close of business on any record
date next preceding any Interest Payment Date to the opening of business on such Interest Payment Date shall (except in the case of Securities which have been called for redemption on a Redemption Date within such period) be accompanied by payment
in New York Clearing House funds or other funds acceptable to the Company of an amount equal to the interest payable on such Interest Payment Date on the Securities being surrendered for conversion. Except as provided in this
Section 13.09, no adjustments in respect of payments of interest on Securities surrendered for conversion or any dividends or distributions or interest on the Common Stock or other Marketable Securities issued upon conversion shall be made upon
the conversion of any Securities. 
 Section 13.10 Corporate Action Regarding Par Value of Common Stock. Before taking any action
which would cause an adjustment reducing the applicable Conversion Price below the then par value (if any) of the shares of Common Stock or other Marketable Securities deliverable upon conversion of the Securities, the Company will take any
corporate action which may, in the opinion of its counsel, be necessary in order that the Company may validly and legally issue fully paid and nonassessable shares of Common Stock or other Marketable Securities at such adjusted Conversion Price.

 Section 13.11 Company Determination Final. Any determination that the Company or the Board of Directors must make pursuant to this
Article is conclusive. 
 Section 13.12 Trustee’s Disclaimer. The Trustee has no duty to determine when an adjustment under
this Article should be made, how it should be made or what it should be. The Trustee makes no representation as to the validity or value of any securities or assets issued 

  
 78 

 
upon conversion of Securities. The Trustee shall not be responsible for the Company’s failure to comply with this Article. Each Conversion Agent other than the Company shall have the same
protection under this Section as the Trustee. 
 ARTICLE XIV 

Guarantees 
 Section 14.01
Guarantees. 
 (a) Any series of Securities may be guaranteed by one or more of the Subsidiaries of the Company or other Persons. The
terms and the form of any such Guarantee will be established in the manner contemplated by Section 3.01 for the particular series of Securities. Each Guarantor, as primary obligor and not merely as surety, will fully, irrevocably and
unconditionally guarantee, on a subordinated basis, to each Holder of Securities (including each Holder of Securities issued under the Indenture after the date of this Indenture) and to the Trustee and its successors and assigns (i) the full
and punctual payment of principal of and interest on the Securities when due, whether at maturity, by acceleration, by redemption or otherwise, and all other monetary obligations of the Company under this Indenture (including obligations to the
Trustee) and the Securities and (ii) the full and punctual performance within applicable grace periods of all other obligations of the Company under this Indenture and the Securities. The obligations of each Guarantor under any such Guarantee
will be junior and subordinated in right of payment to the Senior Indebtedness of such Guarantor in the same manner and to the same extent as the Securities are subordinated to the Senior Indebtedness of the Issuer. 

(b) Each of the Guarantors further agrees to waive presentment to, demand of payment from and protest to the Company or any other Person, and
also waives diligence, notice of acceptance of its Guarantee, presentment, demand for payment, notice of protest for nonpayment, the filing of claims with a court in the event of merger or bankruptcy of the Company or any other Person and any right
to require a proceeding first against the Company or any other Person. The obligations of the Guarantors shall not be affected by any failure or policy on the part of the Trustee to exercise any right or remedy under this Indenture or the Securities
of any series. 
 (c) The obligation of each Guarantor to make any payment hereunder may be satisfied by causing the Company or any other
Person to make such payment. If any Holder of any Security or the Trustee is required by any court or otherwise to return to the Company or any Guarantor, or any custodian, trustee, liquidator or other similar official acting in relation to any of
the Company or any Guarantor, any amount paid by any of them to the Trustee or such Holder, the Guarantee of such Guarantor, to the extent theretofore discharged, shall be reinstated in full force and effect. 

(d) Each Guarantor also agrees to pay any and all reasonable costs and expenses (including reasonable attorneys’ fees) incurred by the
Trustee or any Holder of Securities in enforcing any of their respective rights under its Guarantees. 

  
 79 

 (e) Any term or provision of this Indenture to the contrary notwithstanding, the maximum
aggregate amount of each of the Guarantees shall not exceed the maximum amount that can be guaranteed by the relevant Guarantor without rendering the relevant Guarantee under this Indenture voidable under applicable law relating to fraudulent
conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. 

  
 80 

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

			
	THE WENDY’S COMPANY
		
	By:		 
			Name:
			Title:
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

		
	By:		 
			Name:
			Title:

 [Signature Page to the Indenture]EX-4.1

 Exhibit 4.1 
  

 
  

QUINTILES TRANSNATIONAL CORP. 
 as
Issuer 
 the Guarantors named herein 

U.S. BANK NATIONAL ASSOCIATION 

as Trustee 
  

 
 INDENTURE 

Dated as of May 12, 2015 
  

 
 4.875% Senior
Notes due 2023 
  
  

 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	ARTICLE ONE	  			
		
	DEFINITIONS AND INCORPORATION BY REFERENCE	  			
			
	 SECTION 1.01.
	 	 Definitions.
	  	 	1	  
	 SECTION 1.02.
	 	 Incorporation by Reference of Trust Indenture Act.
	  	 	24	  
	 SECTION 1.03.
	 	 Rules of Construction.
	  	 	24	  
		
	ARTICLE TWO	  			
		
	THE SECURITIES	  			
			
	 SECTION 2.01.
	 	 Amount of Notes.
	  	 	25	  
	 SECTION 2.02.
	 	 Form and Dating; Legends.
	  	 	25	  
	 SECTION 2.03.
	 	 Execution and Authentication.
	  	 	26	  
	 SECTION 2.04.
	 	 Registrar, Paying Agent and Transfer Agent.
	  	 	27	  
	 SECTION 2.05.
	 	 Paying Agent To Hold Money.
	  	 	27	  
	 SECTION 2.06.
	 	 Noteholder Lists.
	  	 	28	  
	 SECTION 2.07.
	 	 Transfer and Exchange.
	  	 	28	  
	 SECTION 2.08.
	 	 Replacement Notes.
	  	 	29	  
	 SECTION 2.09.
	 	 Outstanding Notes.
	  	 	29	  
	 SECTION 2.10.
	 	 Treasury Notes.
	  	 	30	  
	 SECTION 2.11.
	 	 Temporary Notes.
	  	 	30	  
	 SECTION 2.12.
	 	 Cancellation.
	  	 	30	  
	 SECTION 2.13.
	 	 Defaulted Interest.
	  	 	31	  
	 SECTION 2.14.
	 	 CUSIP and ISIN Numbers.
	  	 	31	  
	 SECTION 2.15.
	 	 Deposit of Moneys.
	  	 	31	  
	 SECTION 2.16.
	 	 Book-Entry Provisions for Global Notes.
	  	 	32	  
	 SECTION 2.17.
	 	 Transfer and Exchange of Notes.
	  	 	33	  
	 SECTION 2.18.
	 	 Computation of Interest.
	  	 	41	  
		
	ARTICLE THREE	  			
		
	REDEMPTION	  			
			
	 SECTION 3.01.
	 	 Election To Redeem; Notices to Trustee.
	  	 	41	  
	 SECTION 3.02.
	 	 Selection by Trustee of Notes To Be Redeemed.
	  	 	41	  
	 SECTION 3.03.
	 	 Notice of Redemption.
	  	 	41	  
	 SECTION 3.04.
	 	 Effect of Notice of Redemption.
	  	 	42	  

  
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	 	 	 	  	Page	 
	 SECTION 3.05.
	 	 Deposit of Redemption Price.
	  	 	43	  
	 SECTION 3.06.
	 	 Notes Redeemed in Part.
	  	 	43	  
	 SECTION 3.07.
	 	 Mandatory Redemption.
	  	 	44	  
		
	ARTICLE FOUR	  			
		
	COVENANTS	  			
			
	 SECTION 4.01.
	 	 Payment of Notes.
	  	 	44	  
	 SECTION 4.02.
	 	 Maintenance of Office or Agency.
	  	 	44	  
	 SECTION 4.03.
	 	 Legal Existence.
	  	 	45	  
	 SECTION 4.04.
	 	 Compliance with Law.
	  	 	45	  
	 SECTION 4.05.
	 	 Waiver of Stay, Extension or Usury Laws.
	  	 	45	  
	 SECTION 4.06.
	 	 Compliance Certificate.
	  	 	45	  
	 SECTION 4.07.
	 	 Taxes.
	  	 	46	  
	 SECTION 4.08.
	 	 Repurchase at the Option of Holders upon Change of Control Triggering Event.
	  	 	46	  
	 SECTION 4.09.
	 	 Limitation on Liens.
	  	 	49	  
	 SECTION 4.10.
	 	 Limitation on Sale and Leaseback Transactions.
	  	 	49	  
	 SECTION 4.11.
	 	 Exempted Transactions.
	  	 	49	  
	 SECTION 4.12.
	 	 Reports to Holders.
	  	 	50	  
	 SECTION 4.13.
	 	 Additional Note Guarantees.
	  	 	52	  
		
	ARTICLE FIVE	  			
		
	SUCCESSOR CORPORATION	  			
			
	 SECTION 5.01.
	 	 Consolidation, Merger and Sale of Assets.
	  	 	52	  
	 SECTION 5.02.
	 	 Successor Person Substituted.
	  	 	53	  
		
	ARTICLE SIX	  			
		
	DEFAULTS AND REMEDIES	  			
			
	 SECTION 6.01.
	 	 Events of Default.
	  	 	54	  
	 SECTION 6.02.
	 	 Acceleration of Maturity.
	  	 	56	  
	 SECTION 6.03.
	 	 Other Remedies.
	  	 	56	  
	 SECTION 6.04.
	 	 Rescission of Acceleration; Waiver of Existing Defaults and Events of Default.
	  	 	56	  
	 SECTION 6.05.
	 	 Control by Majority.
	  	 	57	  
	 SECTION 6.06.
	 	 Limitation on Suits.
	  	 	58	  
	 SECTION 6.07.
	 	 No Personal Liability of Directors, Officers, Employees and Stockholders.
	  	 	58	  
	 SECTION 6.08.
	 	 Rights of Holders To Receive Payment.
	  	 	59	  
	 SECTION 6.09.
	 	 Collection Suit by Trustee.
	  	 	59	  

  
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	 	 	 	  	Page	 
	 SECTION 6.10.
	 	 Trustee May File Proofs of Claim.
	  	 	59	  
	 SECTION 6.11.
	 	 Priorities.
	  	 	60	  
	 SECTION 6.12.
	 	 Undertaking for Costs.
	  	 	60	  
		
	ARTICLE SEVEN	  			
		
	TRUSTEE	  			
			
	 SECTION 7.01.
	 	 Duties of Trustee.
	  	 	60	  
	 SECTION 7.02.
	 	 Rights of Trustee.
	  	 	62	  
	 SECTION 7.03.
	 	 Individual Rights of Trustee.
	  	 	64	  
	 SECTION 7.04.
	 	 Trustee’s Disclaimer.
	  	 	64	  
	 SECTION 7.05.
	 	 Notice of Defaults.
	  	 	64	  
	 SECTION 7.06.
	 	 Reports by Trustee to Holders.
	  	 	65	  
	 SECTION 7.07.
	 	 Compensation and Indemnity.
	  	 	65	  
	 SECTION 7.08.
	 	 Replacement of Trustee.
	  	 	66	  
	 SECTION 7.09.
	 	 Successor Trustee by Consolidation, Merger, etc.
	  	 	67	  
	 SECTION 7.10.
	 	 Eligibility; Disqualification.
	  	 	68	  
	 SECTION 7.11.
	 	 Preferential Collection of Claims Against Issuer.
	  	 	68	  
	 SECTION 7.12.
	 	 Paying Agents.
	  	 	68	  
	 SECTION 7.13.
	 	 Communications
	  	 	69	  
		
	ARTICLE EIGHT	  			
		
	AMENDMENT, SUPPLEMENT AND WAIVER	  			
			
	 SECTION 8.01.
	 	 Without Consent of Noteholders.
	  	 	69	  
	 SECTION 8.02.
	 	 With Consent of Noteholders.
	  	 	70	  
	 SECTION 8.03.
	 	 Compliance with Trust Indenture Act.
	  	 	72	  
	 SECTION 8.04.
	 	 Revocation and Effect of Consents.
	  	 	72	  
	 SECTION 8.05.
	 	 Notation on or Exchange of Notes.
	  	 	73	  
	 SECTION 8.06.
	 	 Trustee To Sign Amendments, etc.
	  	 	73	  
		
	ARTICLE NINE	  			
		
	DISCHARGE OF INDENTURE; DEFEASANCE	  			
			
	 SECTION 9.01.
	 	 Discharge of Indenture.
	  	 	73	  
	 SECTION 9.02.
	 	 Legal Defeasance.
	  	 	74	  
	 SECTION 9.03.
	 	 Covenant Defeasance.
	  	 	75	  
	 SECTION 9.04.
	 	 Conditions to Legal Defeasance or Covenant Defeasance.
	  	 	76	  
	 SECTION 9.05.
	 	 Deposited Money and U.S. Government Obligations To Be Held in Trust.
	  	 	77	  
	 SECTION 9.06.
	 	 Reinstatement.
	  	 	78	  

  
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	 	 	 	  	Page	 
	SECTION 9.07.	 	Moneys Held by Paying Agent.	  	78	 
	 SECTION 9.08.
	 	 Moneys Held by Trustee.
	  	 	78	  
		
	ARTICLE TEN	  			
		
	GUARANTEE OF SECURITIES	  			
			
	 SECTION 10.01.
	 	 Guarantee.
	  	 	79	  
	 SECTION 10.02.
	 	 Execution and Delivery of Note Guarantee.
	  	 	80	  
	 SECTION 10.03.
	 	 Release of Guarantors.
	  	 	80	  
	 SECTION 10.04.
	 	 Waiver of Subrogation.
	  	 	81	  
	 SECTION 10.05.
	 	 Notice to Trustee.
	  	 	82	  
	 SECTION 10.06.
	 	 Limitation on Guarantor’s Liability.
	  	 	82	  
		
	ARTICLE ELEVEN	  			
		
	MISCELLANEOUS	  			
			
	 SECTION 11.01.
	 	 Trust Indenture Act Controls.
	  	 	82	  
	 SECTION 11.02.
	 	 Notices.
	  	 	83	  
	 SECTION 11.03.
	 	 Communications by Holders with Other Holders.
	  	 	84	  
	 SECTION 11.04.
	 	 Certificate and Opinion as to Conditions Precedent.
	  	 	85	  
	 SECTION 11.05.
	 	 Statements Required in Certificate and Opinion.
	  	 	85	  
	 SECTION 11.06.
	 	 Rules by Trustee and Agents.
	  	 	85	  
	 SECTION 11.07.
	 	 Business Days; Legal Holidays.
	  	 	86	  
	 SECTION 11.08.
	 	 Governing Law.
	  	 	86	  
	 SECTION 11.09.
	 	 No Adverse Interpretation of Other Agreements.
	  	 	86	  
	 SECTION 11.10.
	 	 Successors.
	  	 	86	  
	 SECTION 11.11.
	 	 Multiple Counterparts.
	  	 	86	  
	 SECTION 11.12.
	 	 Table of Contents, Headings, etc.
	  	 	86	  
	 SECTION 11.13.
	 	 Separability.
	  	 	86	  
	 SECTION 11.14.
	 	 Waiver of Jury Trial.
	  	 	87	  
	 SIGNATURES
	  	 	S-1	  
		
	EXHIBITS	  			
			
	 Exhibit A-1.
	 	 Form of Restricted Note
	  	 	A-1-1	  
	 Exhibit A-2.
	 	 Form of Unrestricted Note
	  	 	A-2-1	  
	 Exhibit B.
	 	 Form of Private Placement Legend
	  	 	B-1	  
	 Exhibit C.
	 	 Form of Legend for Global Note
	  	 	C-1	  
	 Exhibit D.
	 	 Form of OID Legend
	  	 	D-1	  
	 Exhibit E.
	 	 Form of Temporary Regulation S Legend
	  	 	E-1	  
	 Exhibit F.
	 	 Form of Certificate of Transfer
	  	 	F-1	  
	 Exhibit G.
	 	 Form of Certificate of Exchange
	  	 	G-1	  
	 Exhibit H.
	 	 Form of Certificate from Acquiring Institutional Accredited Investor
	  	 	H-1	  

  
 -iv- 

 
  

 

 INDENTURE, dated as of May 12, 2015 among Quintiles Transnational Corp., a North Carolina
corporation (the “Issuer” or “Quintiles”), the Guarantors and U.S. Bank National Association, as trustee (the “Trustee”). 

Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of the Notes. 

ARTICLE ONE 
 DEFINITIONS AND
INCORPORATION BY REFERENCE 
 SECTION 1.01. Definitions. 

“Additional Notes” has the meaning set forth in Section 2.01. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means 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, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and “under common control
with” have correlative meanings. 
 “Agent” means any Registrar, Paying Agent, Transfer Agent or agent for service or
notices and demands. 
 “Agent Members” has the meaning set forth in Section 2.16. 

“amend” means to amend, supplement, restate, amend and restate or otherwise modify; and “amendment” shall
have a correlative meaning. 
 “Applicable Redemption Premium” means, with respect to any Note on any Redemption Date, the
excess of 
 (1) the present value at such Redemption Date of (x) the redemption price of such Note if such Note were redeemed on
May 15, 2018 plus (y) all required and unpaid interest payments due on such Note through May 15, 2018, in each case computed using a discount rate equal to the Treasury Rate at such Redemption Date plus 50 basis points, over 

(2) the then-outstanding principal amount of the Note. 

“Attributable Indebtedness” means, with respect to any Sale and Lease-Back Transaction, at the time of determination, the
lesser of (1) the sale price of the property so leased multiplied by a fraction the numerator of which is the remaining portion of the base 

 
term of the lease included in such transaction and the denominator of which is the base term of such lease, and (2) the total obligation (discounted to the present value at the implicit
interest factor, determined in accordance with GAAP, included in the rental payments) of the lessee for rental payments (other than amounts required to be paid on account of property taxes as well as maintenance, repairs, insurance, water rates and
other items which do not constitute payments for property rights) during the remaining portion of the base term of the lease included in such transaction. Notwithstanding the foregoing, if such Sale and Lease-Back Transaction results in a Capital
Lease Obligation, the amount of Indebtedness represented thereby will be determined in accordance with the definition of “Capital Lease Obligation.” 

“Authentication Order” has the meaning set forth in Section 2.01. 

“Authorized Person” means any person who is designated in writing by the Issuer from time to time to give Instructions to the
Trustee or Agent under the terms of this Indenture. 
 “Bankruptcy Law” means Title 11 of the United States Code, as
amended, or any similar federal, state, local or foreign law for the relief of debtors. 
 “Beneficial Owner” has the
meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such
“person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only
upon the occurrence of a subsequent condition. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding meaning. 

“Board of Directors” means: 

(1) with respect to a corporation, the board of directors of the corporation (or any duly authorized committee thereof); 

(2) with respect to a partnership, the Board of Directors (or any duly authorized committee thereof) of the general partner of the
partnership; 
 (3) with respect to a limited liability company, the managing member or members or any controlling committee of managing
members thereof; and 
 (4) with respect to any other Person, the board or committee of such Person serving a similar function. 

“Business Day” has the meaning set forth in Section 11.07. 

  
 -2- 

 “Capital Lease Obligation” means, at the time any determination is to be made,
the amount of the liability in respect of a capital lease that would at that time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP. 

“Capital Stock” means: 

(1) in the case of a corporation, corporate stock; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company, partnership or membership interests
(whether general or limited); and 
 (4) any other interest or participation that confers on a Person the right to receive a share of the
profits and losses of, or distributions of assets of, the issuing Person. 
 “Change of Control” means the occurrence of
any of the following: 
 (1) the direct or indirect sale, 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 properties or assets of Quintiles and its Subsidiaries taken as a whole (other than any Qualified Securitization Transaction) to any
“person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than a Permitted Holder; 
 (2)
the adoption of a plan relating to the liquidation or dissolution of Quintiles; or 
 (3) Quintiles becomes aware of (by way
of a report or other filing pursuant to Section 13(d) of the Exchange Act, proxy, written notice or otherwise) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any
“person” (as defined above), other than the Permitted Holders, becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of Quintiles, measured by voting power rather than number of shares. 

“Change of Control Offer” has the meaning set forth in Section 4.08. 

“Change of Control Payment” has the meaning set forth in Section 4.08. 

“Change of Control Payment Date” has the meaning set forth in Section 4.08. 

  
 -3- 

 “Change of Control Triggering Event” means the occurrence of, if on the earlier
of (a) the date of the first public announcement of such Change of Control or of the Issuer’s intention to effect such Change of Control or (b) the occurrence of such Change of Control (x) the Notes have an Investment Grade
Rating by both Rating Agencies, (1) a Change of Control that is accompanied or followed by a downgrade of the Notes within the Ratings Decline Period for such Change of Control by both Ratings Agencies and (2) each Rating Agency’s
rating of the Notes on any day during such Ratings Decline Period is below the rating by such Ratings Agency in effect immediately preceding the first public announcement of the Change of Control (or occurrence thereof, if such Change of Control
occurs prior to the first public announcement thereof); provided, however, that a downgrade of the Notes by the applicable Rating Agency will not be deemed to have occurred in respect of a Change of Control (and thus will not be deemed
a downgrade for purposes of this definition) if such Rating Agency making the reduction in rating does not publicly announce or confirm or inform Quintiles or the Trustee in writing at the request of Quintiles that the reduction was the result, in
whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of such downgrade), or (y) the Notes do not
have an Investment Grade Rating from one or both Rating Agencies, a Change of Control. No Change of Control Triggering Event will be deemed to have occurred in connection with a Change of Control until such Change of Control has been consummated.

 “Clearstream” means Clearstream Banking, S.A. and any successor thereto. 

“Consolidated Net Income” means, for any period, with respect to any Person, net income attributable to such Person and its
Subsidiaries on a consolidated basis, as determined in accordance with GAAP; provided that Consolidated Net Income for any such period shall exclude, without duplication, 

(i) any net after-tax extraordinary gains, losses or charges, 

(ii) the cumulative effect of a change in accounting principle(s) during such period, 

(iii) any net after-tax gains or losses realized upon the disposition of assets outside the ordinary course of business
(including any gain or loss realized upon the disposition of any Capital Stock of any Person) and any net gains or losses on disposed, abandoned and discontinued operations (including in connection with any disposal thereof) and any accretion or
accrual of discounted liabilities, 
 (iv) (A) the net income (or loss) of any Person that is not a Restricted
Subsidiary, except in each case to the extent of the amount of dividends or other distributions actually paid in cash or cash equivalents (or converted to cash or cash equivalents) to such Person or one of its Restricted Subsidiaries by such Person
during 

  
 -4- 

 
such period and (B) the income or loss of any Person accrued prior to the date it becomes a Subsidiary of such Person or is merged into or consolidated with such Person or any Subsidiary of
such Person or the date that such other Person’s assets are acquired by such Person or any Subsidiary of such Person, 

(v) non-cash compensation charges, including any such charges arising from stock options, restricted stock grants or other
equity incentive programs of Quintiles or any direct or indirect parents in connection with the Transactions, 
 (vi)
(A) any charges or expenses pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement, any stock subscription or shareholder agreement or any distributor equity plan or agreement
and (B) any charges, costs, expenses, accruals or reserves in connection with the rollover, acceleration or payout of Capital Stock held by management of Quintiles and its Restricted Subsidiaries; provided, however, that in order to
exclude from Consolidated Net Income any cash charges, cash costs and cash expenses arising under (A) or (B) they must be funded with cash proceeds contributed to the capital of Quintiles or any direct or indirect parent of Quintiles or
net cash proceeds of an issuance of Capital Stock (other than Disqualified Stock) of Quintiles or any direct or indirect parent of Quintiles, 

(vii) any net income or loss attributable to the early extinguishment of Indebtedness, 

(viii) effects of any adjustments (including the effects of such adjustments pushed down to the Subsidiaries of Quintiles) in
the inventory, property and equipment, software, goodwill, other intangible assets, in-process research and development, deferred revenue, debt line items, any earn-out obligations and any other non-cash charges (other than the amortization of
unfavorable operating leases) in such Person’s consolidated financial statements pursuant to GAAP resulting from the application of purchase accounting in relation to any consummated acquisition or any joint venture investments or the
amortization or write-off of any such amounts, 
 (ix) any impairment charge or asset write-off or write-down, including
impairment charges or asset write-offs or write-downs related to intangible assets, long-lived assets, investments in debt and equity securities or obligations (including any losses with respect to obligations of customers, account debtors and
suppliers in bankruptcy, insolvency or similar proceedings) or as a result of a change in law or regulation, in each case, pursuant to GAAP, 

(x) any net gain or loss resulting from currency translation gains or losses related to currency remeasurements of indebtedness
(including any net loss or gain resulting from hedge agreements for currency exchange risk) and any foreign currency translation gains or losses, 

  
 -5- 

 (xi) any net unrealized gains and losses resulting from obligations under Hedging
Obligations or other derivative instruments entered into for the purpose of hedging interest rate risk and the application of Financial Accounting Standards Board Accounting Standards Codification Topic 815, “Derivatives and Hedging,” as
such Topic may be amended, updated, or supplemented from time to time, and 
 (xii) Transaction Expenses paid prior to
September 30, 2015. 
 In addition, to the extent not already included in the Consolidated Net Income of such Person and its Subsidiaries,
notwithstanding anything to the contrary in the foregoing (but without duplication of any of the foregoing exclusions and adjustments), Consolidated Net Income shall include the amount of proceeds received from business interruption insurance in
respect of expenses, charges or losses with respect to business interruption and reimbursements of any expenses and charges to the extent reducing Consolidated Net Income that are actually received and covered by indemnification or other
reimbursement provisions or, so long as Quintiles has made a determination that there exists reasonable expectation that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is in fact reimbursed within 365
days of the date of such determination (with a reversal in the applicable future period for any amount so included to the extent not so reimbursed within such 365-day period), in connection with any investment or any sale, conveyance, transfer or
other disposition of assets permitted under the Credit Agreement. 
 “Consolidated Secured Debt Ratio” means, as of any
date of determination, the ratio of (1) the aggregate amount of Funded Debt then outstanding that is secured by Liens as of such date of determination to (2) EBITDA for the most recent four consecutive fiscal quarters for which internal
financial statements of Quintiles are available, in each case, for Quintiles and its Restricted Subsidiaries with pro forma and other adjustments to each of Funded Debt and EBITDA to reflect any incurrences or repayments of Funded Debt and any
acquisitions or dispositions of businesses or assets since the beginning of such four consecutive fiscal quarter period (which pro forma and other adjustments will be determined in good faith by a responsible financial or accounting officer of
Quintiles and shall not be required to be made in accordance with Regulation S-X promulgated by the SEC as such Regulation is in effect on the Issue Date) provided that the EBITDA attributable to discontinued operations, as determined in accordance
with GAAP, will be excluded. 
 Notwithstanding anything in this definition to the contrary, when calculating the Consolidated Secured Debt
Ratio in connection with a Limited Condition Transaction, at the option of Quintiles (Quintiles’ election to exercise such option in connection with any Limited Condition Transaction, an “LCT Election”), the date of
determination of whether any action is permitted hereunder shall be deemed to be the date the definitive agreements for 

  
 -6- 

 
such Limited Condition Transaction are entered into (the “LCT Test Date”), and if, after giving pro forma effect to the Limited Condition Transaction and the other transactions
to be entered into in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) as if they had occurred on the first day of the most recent test period ending prior to the LCT Test Date (except with respect to
any incurrence or repayment of Indebtedness for purposes of the calculation of any leverage-based test or ratio, which shall in each case be treated as if they had occurred on the last day of such test period), Quintiles would have been permitted to
take such action on the relevant LCT Test Date in compliance with such ratio, such ratio shall be deemed to have been complied with. For the avoidance of doubt, if Quintiles has made an LCT Election and such ratio for which compliance was determined
or tested as of the LCT Test Date is exceeded as a result of fluctuations in such ratio including due to fluctuations in the total assets of Quintiles or the person subject to such Limited Condition Transaction, at or prior to the consummation of
the relevant transaction or action, such ratio will not be deemed to have been exceeded as a result of such fluctuations. 
 If Quintiles
has made an LCT Election for any Limited Condition Transaction, then in connection with any calculation of such ratio with respect to the incurrence of Liens (a “Subsequent Transaction”) following the relevant LCT Test Date and
prior to the earlier of the date on which such Limited Condition Transaction is consummated or the date that the definitive agreement or irrevocable notice for such Limited Condition Transaction is terminated or expires without consummation of such
Limited Condition Transaction, for purposes of determining whether such Subsequent Transaction is permitted under this Indenture, such ratio shall be required to be satisfied on a pro forma basis (i) assuming such Limited Condition Transaction
and other transactions in connection therewith (including any incurrence of indebtedness and the use of proceeds thereof) have been consummated and (ii) assuming such Limited Condition Transaction and other transactions in connection therewith
(including any incurrence of indebtedness and the use of proceeds thereof) have not been consummated. 
 “Corporate Trust
Office” means, solely for purposes of presenting the Notes for payment, U.S. Bank National Association, as agent, located at 111 Fillmore Avenue East, St. Paul, MN 55107-2292, and, for all other purposes the office of the Trustee at which
any time its corporate trust business shall be administered, which on the date hereof is located at the address listed in Section 11.02, or such other address as the Trustee may designate from time to time by notice to the Holders and the
Issuer, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Holders and the Issuer). 

“Covenant Defeasance” has the meaning set forth in Section 9.03. 

“Credit Agreement” means the Credit Agreement, to be entered into as of the Issue Date, by and among Quintiles, JP Morgan
Chase Bank, N.A., as administrative agent, 

  
 -7- 

 
and the other agents, arrangers and lenders named therein, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each
case as amended (including, without limitation, as to principal amount), modified, renewed, refunded, replaced or refinanced from time to time (whether or not with the original agents or lenders and whether or not contemplated under the original
agreement relating thereto). 
 “Debt Facilities” means one or more debt facilities (including, without limitation, the
Credit Agreement), commercial paper facilities or indentures, in each case with banks, institutional or other lenders or a trustee providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to
such lenders or to special purpose entities formed to borrow from such lenders against such receivables), letters of credit or debt securities, in each case, as amended (including, without limitation, as to principal amount), restated, modified,
renewed, refunded, replaced or refinanced in whole or in part from time to time (whether or not with the original agents or lenders or parties and whether or not contemplated under the original agreement relating thereto). 

“Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default.

 “Depository” means, with respect to the Global Notes, DTC or another Person designated as depository by the Issuer,
which Person must be a clearing agency registered under the Exchange Act. 
 “Disqualified Stock” means any Capital Stock
that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case at the option of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily
redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder of the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature. 

“DTC” means the Depository Trust Company or any successor securities clearing agency. 

“EBITDA” means, for any period, the sum of (a) Consolidated Net Income, plus (b) an amount which, in the
determination of Consolidated Net Income for such period, has been deducted or netted from gross revenues (except with respect to subclauses (viii) and (x) below) for, without duplication, 

(i) interest expense and, to the extent not reflected in such interest expense, any losses with respect to obligations under
any Hedging Obligations or other derivative instruments (including any applicable termination payment) entered into for the purpose of hedging interest rate risk, any bank and financing fees, any 

  
 -8- 

 
costs of surety bonds in connection with financing activities, commissions, discounts and other fees and charges owed with respect to letters of credit, bankers’ acceptance or any similar
facilities or financing and Hedging Obligations, 
 (ii) provision for taxes based on income or profits or capital,
including, without limitation, federal, state, provincial, franchise, excise, withholding and similar taxes, including any penalties and interest relating to any tax examinations, 

(iii) the total amount of depreciation and amortization expense, including expenses related to Capital Lease Obligations, 

(iv) to the extent permitted hereunder, any costs and expenses incurred in connection with any investment, disposition, equity
issuance or debt issuance (including fees and expenses related to the Credit Agreement and any amendments, supplements and modifications thereof), including the amortization of deferred financing fees, debt issuance costs, commissions, fees and
expenses (in each case, whether or not consummated), 
 (v) any costs, charges, accruals and reserves in connection with any
integration, transition, facilities openings, vacant facilities, consolidations, relocations, closing, permitted acquisitions, joint venture investments and dispositions, business optimization (including relating to systems design, upgrade and
implementation costs), entry into new markets, including consulting fees, restructuring, severance, severance and curtailments or modifications to pension or postretirement employee benefit plans, 

(vi) the amount of any expense or deduction associated with income of any Restricted Subsidiaries attributable to
non-controlling interests or minority interest of third parties, 
 (vii) any non-cash charges, losses or expenses (including
tax reclassification related to tax contingencies in a prior period and, subject to clause (d) below, including accruals and reserves in respect of potential or future cash items), but excluding, any non-cash charge relating to write-offs or
write-downs of inventory or accounts receivable or representing amortization of a prepaid cash item that was paid but not expensed in a prior period, 

(viii) cash actually received (or any netting arrangements resulting in reduced cash expenditures) during such period, and not
included in Consolidated Net Income in any period, to the extent that the non-cash gain relating to such cash receipt or netting arrangement was deducted in the calculation of EBITDA pursuant to paragraph (c) below for any previous period and
not added back, 
 (ix) unusual or non-recurring losses or charges, and 

  
 -9- 

 (x) the amount of “run-rate” cost savings and synergies projected by
Quintiles in good faith to be realized as a result of specified actions taken or expected in good faith to be taken within 12 months following the end of such period (calculated on a pro forma basis as though such cost savings and synergies had been
realized on the first day of such period), net of the amount of actual benefits realized during such period from such actions; provided that such cost savings and synergies are reasonably identifiable, factually supportable and certified
pursuant to the Credit Agreement by the Chief Financial Officer or Treasurer of Quintiles (it is understood and agreed that “run-rate” means the full recurring benefit for a period that is associated with any action taken or expected to be
taken, provided that such benefit is expected to be realized within 12 months of taking such action), minus 
 (c) an amount which, in the
determination of Consolidated Net Income for such period, has been included for non-cash income during such period (other than with respect to (A) amortization of unfavorable operating leases and (B) payments actually received and the
reversal of any accrual or reserve to the extent not previously added back in any prior period), minus (d) all cash payments made during such period on account of non-cash charges added to EBITDA pursuant to clause (b)(vii) above in such
period or in a prior period; minus (e) the amount of income consisting of or associated with losses of any Restricted Subsidiary attributable to non-controlling interests or minority interests of third parties, minus
(f) non-recurring or unusual gains. 
 “Equity Offering” means any public or private sale by Holdings or Quintiles
for cash of its common stock or preferred stock (excluding Disqualified Stock). 
 “Euroclear” means Euroclear Bank
S.A./N.V. and any successor thereto. 
 “Event of Default” has the meaning set forth in Section 6.01. 

“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC
promulgated thereunder. 
 “Financial Reports” has the meaning set forth in Section 4.12. 

“Fiscal Year” means the fiscal year of the Issuer, which at the date hereof ends on December 31. 

“Funded Debt” means any Indebtedness for money borrowed (other than in connection with a Qualified Securitization Financing),
whether created, issued, incurred, assumed or Guaranteed, that would, in accordance with GAAP, be classified as long-term debt, but in any event including all Indebtedness for money borrowed, whether secured or unsecured, maturing more than one
year, or extendible at the option of the obligor to a date more than one year, after the date of determination thereof (excluding any amount thereof included in current liabilities other than Indebtedness incurred under a revolving credit facility).

  
 -10- 

 “GAAP” means generally accepted accounting principles in the United States set
forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be
approved by a significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination. 

“Global Note Legend” means the legend substantially in the form set forth in Exhibit C. 

“Global Notes” has the meaning set forth in Section 2.16. 

“Guarantee” means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course of
business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of all or any part of any Indebtedness. 

“Guarantors” means each Subsidiary of Quintiles that executes this Indenture as a guarantor on the Issue Date and each other
Subsidiary of Quintiles that thereafter guarantees the applicable notes pursuant to the terms of this Indenture; provided that upon the release and discharge of any Person from its Note Guarantee in accordance with this Indenture, such Person shall
cease to be a Guarantor. 
 “Hedging Obligations” means, with respect to any specified Person, the obligations of such
Person under: 
 (1) interest rate swap agreements, interest rate cap agreements and interest rate collar agreements; and 

(2) other agreements or arrangements designed to protect such Person against fluctuations in interest rates, commodity prices or foreign
exchange rates. 
 “Holder” or “Noteholder” means the Person in whose name a Note is registered on the
Registrar’s books. 
 “Holdings” means Quintiles Transnational Holdings Inc. 

“Indebtedness” means, with respect to any specified Person, any indebtedness of such Person in respect of borrowed money or
evidenced by bonds, notes, debentures or similar instruments. 

  
 -11- 

 Notwithstanding anything in the foregoing to the contrary, Indebtedness shall not include trade
payables or accrued expenses for property or services incurred in the ordinary course of business, any liability for federal, state, local or other taxes or any settlements or judgments relating to governmental litigations and/or investigations.

 The amount of any Indebtedness issued with original issue discount will be the accreted value of such Indebtedness. 

“Indenture” means this Indenture as amended, restated or supplemented from time to time. 

“Initial Purchasers” means Barclays Capital Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Wells Fargo
Securities, LLC, Citigroup Global Markets Inc., Goldman, Sachs & Co., BBVA Securities Inc., BNP Paribas Securities Corp. and SunTrust Robinson Humphrey, Inc. 

“Institutional Accredited Investor” means an institution that is an “accredited investor” as defined in Rule
501(a)(1), (2), (3) or (7) under the Securities Act. 
 “Instructions” means any written notices, written
directions or written instructions received by the Trustee or the Agent in accordance with the provisions of this Indenture from an Authorized Person or from a person reasonably believed by the Trustee or the Agent to be an Authorized Person. 

“Interest Payment Date” means the stated maturity of an installment of interest on the Notes. 

“Investment Grade Rating” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating
categories of Moody’s) and BBB– or better by S&P (or its equivalent under any successor rating categories of S&P) (or, in each case, a Substitute Rating Agency). 

“Issue Date” means May 12, 2015, the date on which Notes are first issued under this Indenture. 

“Issuer” has the meaning ascribed to such term in the preamble to this Indenture. 

“Legal Defeasance” has the meaning set forth in Section 9.02. 

“Legal Holiday” has the meaning set forth in Section 11.07. 

“Lien” means any liens, mortgages, pledges, security interests, charges or other encumbrances. 

  
 -12- 

 “Limited Condition Transaction” means an acquisition or Sale and Lease-Back
Transaction whose consummation is not conditioned on the availability of, or on obtaining, third party financing, investment or redemption or repayment of Indebtedness requiring irrevocable notice in advance of such redemption or repayment. 

“Limited Originator Recourse” means a letter of credit, cash collateral account or other credit enhancement issued or
provided for a similar purpose in connection with the incurrence of Indebtedness by a Securitization Subsidiary under a Qualified Securitization Financing. 

“Losses” means any and all claims, losses, liabilities, damages, costs, expenses and judgments (including legal fees and
expenses). 
 “Maturity Date” when used with respect to any Note, means the date on which the principal amount of such Note
becomes due and payable as therein or herein provided. 
 “Moody’s” means Moody’s Investors Service, Inc. and any
successor to its rating agency business. 
 “Non-U.S. Person” means a Person who is not a U.S. Person. 

“Note Guarantee” means any Guarantee of the obligations of the Issuer under this Indenture and the Notes by any Person in
accordance with the provisions of this Indenture. 
 “Notes” means the 4.875% Senior Notes due 2023 issued by the Issuer
pursuant to this Indenture, and any Additional Notes, treated as a single class of securities, each as amended from time to time in accordance with the terms hereof. 

“Offering Memorandum” means the Offering Memorandum of the Issuer, dated May 6, 2015, relating to the offering of the
Notes on the Issue Date. 
 “Officers” means, with respect to any Person, the Chairman, President, Chief Executive Officer,
Chief Financial Officer, Treasurer, Controller, any Executive Vice President, any Senior Vice President, any Vice President, any Secretary of such Person or any other authorized officer or director of such Person. 

“Officer’s Certificate” means, with respect to any Person, a certificate that is signed by an Officer of such Person and
that shall comply with applicable provisions of this Indenture. 
 “Opinion of Counsel” means a written opinion from legal
counsel who is reasonably acceptable to the Trustee. Such counsel may be an employee of or counsel to the Issuer or any of its Subsidiaries. 

  
 -13- 

 “Paying Agent” has the meaning set forth in Section 2.04. 

“Payment Default” has the meaning set forth in Section 6.01. 

“Permitted Holders” means the Sponsors, members of management of Quintiles or any direct or indirect parent of Quintiles, and
any group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act or any successor provision) of which any of the foregoing are members; provided that (i) in the case of such group and without giving
effect to the existence of such group or any other group, the Sponsors and such members of management, collectively, have beneficial ownership of more than 50% of the total voting power of the Voting Stock of Quintiles (or any of its direct or
indirect parent companies) held by such group and (ii) the voting power of the Voting Stock of Quintiles (or any of its direct or indirect parent companies) owned by the Sponsors shall be greater than the voting power of the Voting Stock of
Quintiles (or any of its direct or indirect parent companies) owned by such members of management. 
 “Permitted
Liens” means: 
 (1) Liens in favor of Quintiles or any Subsidiary of Quintiles; 

(2) Liens on property or Capital Stock of a Person existing at the time of the acquisition of such Person (whether by merger or
consolidation or acquisition of stock or assets or otherwise) by Quintiles or any Subsidiary of Quintiles; provided, however, that (a) the Indebtedness secured by such Lien was not incurred in contemplation of such acquisition,
merger or consolidation in which such Person becomes a Subsidiary of Quintiles and (b) such Lien does not apply to any other property or assets owned by Quintiles or any Guarantor; 

(3) Liens on property or Capital Stock existing at the time of acquisition thereof (whether by acquisition of stock or assets
or otherwise) by Quintiles or any Subsidiary of Quintiles; provided that (a) the Indebtedness secured by the Lien was not incurred in contemplation of such acquisition and (b) such Lien does not apply to any other property or assets
owned by Quintiles or any Guarantor; 
 (4) Liens securing all or any part of the purchase price of property acquired or cost
of construction of property or cost of additions, substantial repairs, alterations or improvements of property, if the Indebtedness and the related Liens are incurred within 18 months of the later of such acquisition of property or completion of
construction or additions, repairs, alterations or improvements, as the case may be, of such property; 
 (5) Liens existing
on the Issue Date; 

  
 -14- 

 (6) Liens for taxes, assessments or governmental charges or claims which are not
due and payable except for those being contested in good faith and by appropriate actions diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person to the extent required in accordance with
GAAP; 
 (7) Liens securing any Hedging Obligations of Quintiles or any Subsidiary of Quintiles incurred in the ordinary
course of business and not for speculative purposes; 
 (8) statutory Liens and other Liens imposed by law incurred in the
ordinary course of business for sums not yet delinquent or being contested in good faith, if Quintiles or any applicable Subsidiaries shall have made any reserves or other appropriate provision required by GAAP; 

(9) Liens incurred or deposits made in the ordinary course of business in connection with workers’ compensation,
unemployment insurance and other types of social security, or with respect to regulatory requirements, letters of credit, bankers’ acceptances, completion guarantees, or to secure the performance of tenders, other trade contracts (excluding
Indebtedness), statutory obligations, surety and appeal bonds, bids, leases, government contracts, performance, return-of-money bonds, participation in government reimbursement programs and other similar obligations; 

(10) judgment Liens, so long as any appropriate legal proceedings which may have been duly initiated for the review of such
judgment shall not have been finally terminated or the period within which such proceedings may be initiated shall not have expired; 

(11) easements, restrictions (including zoning and land-use restrictions), rights-of-way, encroachments, protrusions, and such
other encumbrances or charges against, and minor title defects affecting, real property that, in the aggregate, do not materially interfere with the ordinary conduct of the business of Quintiles and its Subsidiaries; 

(12) Liens given to secure Capital Lease Obligations and purchase money obligations (including obligations in respect of
mortgage, industrial revenue bond, industrial development bond, and similar financings) to finance the purchase, repair or improvement of fixed or capital assets (and refinancings thereof) as permitted under the Credit Agreement in an aggregate
amount not to exceed the greater of (A) $135,000,000 and (B) 4.5% of Total Assets as of the end of a period of four (4) consecutive fiscal quarters; provided that such Liens do not extend to any property or asset (except for
accessions thereto) which is not leased property subject to such Capital Lease Obligation or property financed by such purchase money obligations, as the case may be, and the proceeds and products thereof; 

  
 -15- 

 (13) bankers’ liens with respect to the right of set-off arising in the
ordinary course of business against amounts maintained in bank accounts or certificates of deposit in the name of Quintiles or any Subsidiary of Quintiles; 

(14) any Lien granted to the Trustee pursuant to the terms of this Indenture and any substantially equivalent Lien granted to
the respective trustees under the indentures for other debt securities of Quintiles; 
 (15) any Lien consisting of a right
of first refusal or option to purchase an ownership interest in any Subsidiary or to purchase assets of Quintiles or any Subsidiary, which right of first refusal or option is entered into in the ordinary course of business; 

(16) Liens in favor of the United States of America or any state thereof, or any department, agency or instrumentality or
political subdivision thereof, to secure partial, progress, advance or other payments; 
 (17) Liens with respect to Debt
Facilities that do not at any one time outstanding exceed $2,350 million; 
 (18) Liens on the Securitization Assets arising
in connection with a Qualified Securitization Financing; 
 (19) (i) leases, licenses, subleases or sublicenses granted to
others in the ordinary course of business that do not (x) interfere in any material respect with the business of Quintiles or any Guarantor or (y) secure any Indebtedness for borrowed money or (ii) the rights reserved or vested in any
Person by the terms of any lease, license, franchise, grant or permit held by Quintiles or any of its Restricted Subsidiaries or by a statutory provision, to terminate any such lease, license, franchise, grant or permit, or to require annual or
periodic payments as a condition to the continuance thereof; 
 (20) Liens arising from Uniform Commercial Code financing
statement filings regarding operating leases or consignments entered into by Quintiles or any Restricted Subsidiary in the ordinary course of business; 

(21) Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the course
of collection, (ii) attaching to commodity trading accounts or other commodities brokerage accounts incurred in the ordinary course of business; and (iii) in favor of a banking institution arising as a matter of law encumbering deposits
(including the right of set-off) and which are customary in the banking industry; 

  
 -16- 

 (22) Liens encumbering reasonable customary initial deposits and margin deposits
and similar Liens attaching to commodity trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 

(23) Liens that are contractual rights of set-off (i) relating to the establishment of depository relations with banks not
given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts of Quintiles or any Guarantor to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business or
(iii) relating to purchase orders and other agreements entered into with customers of Quintiles or any Guarantor in the ordinary course of business; 

(24) Liens in favor of customs and revenue authorities imposed by applicable law arising in the ordinary course of business in
connection with the importation of goods and securing obligations, in each case for sums not overdue by more than thirty (30) days (or if more than thirty (30) days overdue, no action has been taken to enforce such Lien) or which are being
contested in good faith by appropriate proceedings promptly instituted and diligently conducted; 
 (25) Liens on securities
which are the subject of repurchase agreements entered into in the ordinary course of business; 
 (26) Liens on insurance
policies and the proceeds thereof to secure the financing of such premiums; 
 (27) Liens arising out of conditional sale,
title retention, consignment and similar arrangements for sales of goods entered into in the ordinary course of business; and 

(28) any extension, renewal, replacement or refunding of any Lien existing on the date of this Indenture or referred to above;
provided, however, that the principal amount of Indebtedness secured thereby and not otherwise authorized above shall not exceed the maximum amount of Indebtedness allowable under the applicable agreement or credit facility providing
for or evidencing such Indebtedness, plus any premium or fee payable in connection with any such extension, renewal, replacement or refunding, at the time of such extension, renewal, replacement or refunding. 

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, limited liability company or government or other entity. 

  
 -17- 

 “Physical Notes” means certificated Notes in registered form. 

“principal” of a Note means the principal of the Note plus the premium, if any, payable on the Note which is due or overdue
or is to become due at the relevant time. 
 “Principal Personal & Real Property” means any personal or real
property (including, for the avoidance of doubt, accounts receivable and inventory) other than property that, in the opinion of Quintiles’ Board of Directors, is not of material importance to the total business conducted by Quintiles and its
Subsidiaries, taken as a whole. 
 “Private Placement Legend” means the legend substantially in the form set forth in
Exhibit B. 
 “Qualified Institutional Buyer” shall have the meaning specified in Rule 144A promulgated under the
Securities Act. 
 “Qualified Securitization Financing” means any Securitization Financing of a Securitization Subsidiary
that meets the following conditions: (a) such Qualified Securitization Financing (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to Quintiles and the
Securitization Subsidiary, (b) all sales and/or contributions of Securitization Assets and related assets to the Securitization Subsidiary are made at fair market value and (c) the financing terms, covenants, termination events and other
provisions thereof, including any Standard Securitization Undertakings, shall be market terms, in each case as determined by Quintiles in good faith. The grant of a security interest in any Securitization Assets of Quintiles or any of its
Subsidiaries (other than a Securitization Subsidiary) to secure Indebtedness under this Indenture prior to engaging in any Securitization Financing shall not be deemed a Qualified Securitization Financing. 

“Quintiles” has the meaning ascribed to such term in the preamble to this Indenture. 

“Rating Agencies” means Moody’s and S&P, or if Moody’s or S&P or both shall not make a rating on the Notes
publicly available, a nationally recognized statistical rating agency or agencies selected by Quintiles, which shall be substituted for Moody’s or S&P or both, as the case may be (a “Substitute Rating Agency”). 

“Ratings Decline Period” means, with respect to any Change of Control, the period that (1) begins on the earlier of
(a) the date of the first public announcement of such Change of Control or of the Issuer’s intention to effect such Change of Control or (b) the occurrence of such Change of Control and (2) ends on the 60th calendar day following
consummation of such Change of Control; provided, however, that such period shall be extended for so long as any Rating Agency rating the Notes as of the beginning of the Ratings Decline Period has publicly announced during the Ratings
Decline Period that the rating of the Notes is under consideration for downgrade by such Rating Agency. 

  
 -18- 

 “Redemption Date” when used with respect to any Note to be redeemed pursuant to
paragraph 5 of the Notes means the date fixed for such redemption pursuant to the terms of this Indenture and the Notes. 

“Registrar” has the meaning set forth in Section 2.04. 

“Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Notes” has the meaning set forth in Section 2.16. 

“Regulation S Notes” has the meaning set forth in Section 2.02. 

“Responsible Officer” means, when used with respect to the Trustee, any officer in the Corporate Trust Office of the Trustee
including any vice president, assistant vice president or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, and to whom any corporate
trust matter is referred because of such officer’s knowledge of and familiarity with the particular subject, in each case having direct responsibility for the administration of this Indenture. 

“Restricted Global Note” means a Global Note that is a Restricted Note. 

“Restricted Note” has the same meaning as “restricted security” set forth in Rule 144(a)(3) promulgated under the
Securities Act; provided that the Trustee shall be entitled to request and conclusively rely upon an Opinion of Counsel with respect to whether any Note is a Restricted Note. 

“Restricted Period” has the meaning set forth in Section 2.16. 

“Restricted Physical Note” means a Physical Note that is a Restricted Note. 

“Restricted Subsidiary” means any Subsidiary of Quintiles other than an Unrestricted Subsidiary. 

“Rule 144” means Rule 144 promulgated under the Securities Act. 

“Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Rule 144A Global Notes” has the meaning set forth in Section 2.16. 

“Rule 144A Notes” has the meaning set forth in Section 2.02. 

  
 -19- 

 “S&P” means Standard & Poor’s, a division of The McGraw Hill
Companies, Inc., and any successor to its rating agency business. 
 “Sale and Lease-Back Transaction” means any
arrangement providing for the leasing by Quintiles or any Guarantor for a period of more than three years of any property, which property has been or is to be sold or transferred by Quintiles or such Guarantor to a third Person in contemplation of
such leasing. 
 “SEC” means the United States Securities and Exchange Commission. 

“Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder, as amended. 
 “Securitization Assets” means (a) the accounts receivable, notes receivable, other
receivables (including, without limitation, unbilled receivables and unbilled services) or payment rights under contracts (including without limitation rights to royalty, milestone or completion payments), rights to future lease payments or
residuals, or other rights to payment similar or related thereto (in all cases, whether existing or arising in the future) (“Receivables”) subject to a Qualified Securitization Financing and the proceeds thereof and
(b) contract rights, lockbox accounts and records with respect to such Receivables and any other assets customarily transferred together with assets in the nature of Receivables in a securitization financing. 

“Securitization Financing” means any transaction or series of transactions (including factoring arrangements) that may be
entered into by Quintiles or any of its Subsidiaries pursuant to which Quintiles or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Securitization Subsidiary (in the case of a transfer by Quintiles or any of its
Subsidiaries) or (b) any other Person (in the case of a transfer by a Securitization Subsidiary), or may grant a security interest in, any Securitization Assets of Quintiles or any of its Subsidiaries, and any assets related thereto, including
all collateral securing such Securitization Assets, all contracts and all guarantees or other obligations in respect of such Securitization Assets, proceeds of such Securitization Assets and other assets that are customarily transferred or in
respect of which security interests are customarily granted in connection with asset securitization transactions involving Securitization Assets. 

“Securitization Repurchase Obligation” means any obligation of a seller of Securitization Assets in a Qualified
Securitization Financing to repurchase Securitization Assets arising as a result of a breach of a representation, warranty or covenant or otherwise, including, without limitation, as a result of a receivable or portion thereof becoming subject to
any asserted defense, dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller. 

  
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 “Securitization Subsidiary” means a wholly owned Subsidiary of Quintiles (or
another Person formed for the purposes of engaging in a Qualified Securitization Financing in which Quintiles or any Subsidiary of Quintiles makes an investment and to which Quintiles or any Subsidiary of Quintiles transfers Securitization Assets
and related assets) that engages in no activities other than in connection with the financing of Securitization Assets of Quintiles or its Subsidiaries, all proceeds thereof and all rights (contingent and other), collateral and other assets relating
thereto, and any business or activities incidental or related to such business, and which is designated by the Board of Directors of Quintiles or such other Person (as provided below) as a Securitization Subsidiary and (a) no portion of the
Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by Quintiles or any Subsidiary of Quintiles, other than another Securitization Subsidiary (excluding guarantees of obligations (other than the principal
of, and interest on, Indebtedness) pursuant to Standard Securitization Undertakings or Limited Originator Recourse), (ii) is recourse to or obligates Quintiles or any Subsidiary of Quintiles, other than another Securitization Subsidiary, in any
way other than pursuant to Standard Securitization Undertakings or Limited Originator Recourse or (iii) subjects any property or asset of Quintiles or any Subsidiary of Quintiles, other than another Securitization Subsidiary, directly or
indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings or Limited Originator Recourse, (b) with which none of Quintiles or any other Subsidiary of Quintiles, other than
another Securitization Subsidiary, has any material contract, agreement, arrangement or understanding other than on terms which Quintiles reasonably believes to be no less favorable to Quintiles or such Subsidiary than those that might be obtained
at the time from Persons that are not Affiliates of Quintiles and (c) to which none of Quintiles or any other Subsidiary of Quintiles, other than another Securitization Subsidiary, has any obligation to maintain or preserve such entity’s
financial condition or cause such entity to achieve certain levels of operating results. Any such designation by the Board of Directors of Quintiles or such other Person shall be evidenced to the Trustee by delivery to the Trustee of a certified
copy of the resolution of the Board of Directors of Quintiles or such other Person giving effect to such designation and a certificate executed by a responsible financial or accounting officer of Quintiles certifying that such designation complied
with the foregoing conditions. 
 “Significant Subsidiary” means any Subsidiary that would be a “significant
subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the Issue Date. 

“Sponsors” means, collectively, Bain Capital Investors, LLC, TPG Capital, L.P., 3i Corporation, Dr. Dennis B. Gillings and
his immediate family members, The Dennis and Mireille Gillings Limited Partnership, the GFEF Limited Partnership, GF Management Company, LLC and the Dennis and Mireille Gillings Foundation or their respective Affiliates (including, in each case, as
applicable, related funds, general partners thereof and limited partners thereof, but solely to the extent any such limited partners are directly or indirectly 

  
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participating as investors pursuant to a side-by-side investing arrangement, but not including, however, any portfolio company of any of the foregoing). For purposes of this definition,
“immediate family member” means, with respect to any individual, such individual’s child, stepchild, grandchild or more remote descendant, parent, stepparent, grandparent, spouse, former spouse, qualified domestic partner,
sibling, mother-in-law, father-in-law, son-in-law and daughter-in-law (including adoptive relationships) and any trust, partnership or other bona fide estate-planning vehicle the only beneficiaries of which are any of the foregoing individuals or
any private foundation or fund that is controlled by any of the foregoing individuals or any donor-advised fund of which any such individual is the donor. 

“Standard Securitization Undertakings” means representations, warranties, covenants, indemnities and other obligations
entered into by Quintiles or any Subsidiary of Quintiles that are reasonably customary in a Securitization Financing, and in any event includes any Securitization Repurchase Obligation. 

“Subsidiary” means, with respect to any specified Person, (a) any corporation more than 50% of the outstanding
securities having ordinary voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, or (b) any
partnership, limited liability company, association, joint venture or similar business organization more than 50% of the ownership interests having ordinary voting power of which shall at the time be so owned or controlled. 

“Substitute Rating Agency” has the meaning set forth in the definition of “Rating Agencies.” 

“TIA” or “Trust Indenture Act” means the U.S. Trust Indenture Act of 1939 (15 U.S. Code §§
77aaa-77bbbb) as in effect on the date of this Indenture (except as provided in Section 8.03). 
 “Trustee” means the
party named as such in this Indenture until a successor replaces it pursuant to this Indenture and thereafter means the successor. 

“Total Assets” means the total assets of Quintiles and its Restricted Subsidiaries on a consolidated basis, as shown on the
most recent balance sheet of Quintiles delivered pursuant to Section 4.12(a)(i) or, for the period prior to the time any such statements are so delivered, the financial statements delivered prior to the Issue Date. 

“Transaction Expenses” means the fees, costs and expenses incurred or payable by Quintiles or any of its Subsidiaries,
Holdings or any direct or indirect parent thereof in connection with the Transactions, including any such fees, costs and expenses paid in cash, termination payments or other fees, costs and expenses related to terminating Hedging Obligations in
effect prior to the Issue Date, and payments to officers and directors as special or retention bonuses and charges for repurchases of, or modifications to, stock options. 

  
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 “Transactions” means, collectively, (a) the execution and delivery and
performance by the parties of each document to which they are a party executed and delivered or to be executed and delivered on or prior to the closing date in connection with the Credit Agreement, and the making of the initial borrowings
thereunder, (b) the completion of the refinancing transaction for the repayment of all Indebtedness under Quintiles’ existing senior secured credit facilities as described in the Offering Memorandum, (c) the issuance of the Notes and
the entry into this Indenture, (d) the consummation of any other transactions in connection with the foregoing and (e) the payment of the fees and expenses incurred in connection with any of the foregoing. 

“Transfer Agent” has the meaning set forth in Section 2.04. 

“Treasury Rate” means, at any date of determination, the yield to maturity as of such date (as compiled by and published in
the most recent Federal Reserve Statistical Release H.15(519), which has become publicly available at least two Business Days prior to the date of the redemption notice for which such computation is being made (or if such Statistical Release is no
longer published, as reported in any publicly available source of similar market data)), of United States Treasury securities with a constant maturity most nearly equal to the period from the relevant Redemption Date to May 15, 2018; provided
that, if such period is not equal to the constant maturity of the United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a
year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if such period is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a
constant maturity of one year shall be used. 
 “Unrestricted Global Note” means a Global Note that is not a Restricted
Note. 
 “Unrestricted Notes” means Notes that are not Restricted Notes. 

“Unrestricted Physical Note” means a Physical Note that is not a Restricted Note. 

“Unrestricted Subsidiary” means (a) any Subsidiary of an Unrestricted Subsidiary and (b) any Subsidiary of
Quintiles designated as an unrestricted subsidiary in the Credit Agreement or designated by the Board of Directors of Quintiles as an Unrestricted Subsidiary pursuant to the Credit Agreement on or subsequent to the Issue Date. 

“U.S. Government Obligations” means marketable direct obligations (or certificates representing an ownership interest in such
obligations) issued by, or unconditionally 

  
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guaranteed by, the United States Government or issued by any agency or instrumentality thereof and backed by the full faith and credit of the United States of America that are not callable or
redeemable at the option of the issuer thereof, or direct obligations of any agency or instrumentality of the United States Government, whether or not backed by the full faith and credit of the United States, including, without limitation, Federal
Housing Administration (FHA), Resolution Funding Corporation (REFCO), Federal Home Loan Bank (FHLB), Federal Home Loan Mortgage Corporate (FHLMC), Federal Farm Credit Bank (FFCB), and Federal National Mortgage Association (FNMA). 

“U.S. Person” means a “U.S. person” as defined in Rule 902(k) under the Securities Act. 

“Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in
the election of the Board of Directors of such Person. 
 SECTION 1.02. Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the portion of such provision required to be incorporated herein in order for this
Indenture to be qualified under the TIA is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings: 

“indenture securities” means the Notes. 

“indenture securityholder” means a Holder or Noteholder. 

“indenture to be qualified” means this Indenture. 

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

“obligor on the indenture securities” means the Issuer, the Guarantors or any other obligor on the Note or Note
Guarantees. 
 All other terms used in this Indenture that are defined by the TIA, defined in the TIA by reference to another statute or
defined by SEC rule have the meanings therein assigned to them. 
 SECTION 1.03. Rules of Construction. 

Unless the context otherwise requires: 

(1) a term has the meaning assigned to it herein, whether defined expressly or by reference; 

  
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 (2) “or” is not exclusive; 

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

(4) words used herein implying any gender shall apply to both genders; 

(5) “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not to any
particular Article, Section or other subsection; 
 (6) “will” shall be interpreted to express a command; 

(7) unless otherwise specified herein, all accounting terms used herein shall be interpreted in accordance with GAAP; and 

(8) “$” and “U.S. Dollars” each refer to United States dollars, or such other money of the United States of
America that at the time of payment is legal tender for payment of public and private debts. 
 ARTICLE TWO 

THE SECURITIES 
 SECTION 2.01. Amount of
Notes. 
 The Trustee shall initially authenticate $800,000,000 aggregate principal amount of Notes for original issue on the Issue Date
upon a written order of the Issuer (an “Authentication Order”). The Trustee shall thereafter authenticate additional Notes (other than Notes issued under Sections 2.07, 2.08, 2.11, 2.16 and 3.06) (“Additional
Notes”) in unlimited amount (so long as permitted by the terms of this Indenture) for original issue upon an Authentication Order in aggregate principal amount as specified in such Authentication Order (other than as provided in
Section 2.08). Each such Authentication Order shall specify the principal amount of Notes to be authenticated and the date on which the Notes are to be authenticated. 

SECTION 2.02. Form and Dating; Legends. 

The Notes and the Trustee’s certificate of authentication with respect thereto shall be substantially in the form set forth in Exhibit
A-1 (in the case of the Restricted Notes) and Exhibit A-2 (in the case of Unrestricted Notes), each of which is incorporated in and forms a part of this Indenture; provided that, to the
extent any provision of a Note conflicts with any provision of this Indenture, the provision of this Indenture shall govern. Each Note shall be dated the date of its authentication. 

  
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 The Notes may have notations, legends or endorsements required by law, rule or usage to which the
Issuer is subject. Without limiting the generality of the foregoing, Notes offered and sold to Qualified Institutional Buyers in reliance on Rule 144A (“Rule 144A Notes”), Notes offered and sold in offshore transactions in reliance
on Regulation S (“Regulation S Notes”) and all other Restricted Notes shall bear the Private Placement Legend. All Global Notes shall bear the Global Note Legend. 

Each Note issued hereunder that has more than a de minimis amount of original issue discount for U.S. Federal Income Tax purposes shall bear a
legend substantially in the form set forth on Exhibit D. 
 The terms and provisions contained in the Notes shall constitute, and are
expressly made, a part of this Indenture and, to the extent applicable, the Issuer, the Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and agree to be bound thereby. 

The Notes may be presented for registration of transfer and exchange at the offices of the Registrar. 

SECTION 2.03. Execution and Authentication. 

The Notes shall be executed on behalf of the Issuer by at least one Officer of the Issuer. The signature of any such Officer on the Notes may
be manual, facsimile, .pdf attachment or other electronically transmitted signature. 
 If an Officer whose signature is on a Note was an
Officer at the time of such execution but no longer holds that office at the time the Trustee authenticates the Note, the Note shall be valid nevertheless. 

No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Note a
certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly
authenticated and delivered hereunder. Notwithstanding the foregoing, if any Note shall have been authenticated and delivered hereunder but never issued and sold by the Issuer, and the Issuer shall deliver such Note to the Trustee for cancellation
as provided in Section 2.12, for all purposes of this Indenture such Note shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

The Trustee may appoint one or more authenticating agents reasonably acceptable to the Issuer to authenticate the Notes. Unless otherwise
provided in the appointment, an authenticating agent may authenticate the Notes whenever the Trustee may do so. 

  
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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 Issuer and
Affiliates of the Issuer. Each Paying Agent is designated as an authenticating agent for purposes of this Indenture. 
 Notes shall be
issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 
 SECTION 2.04.
Registrar, Paying Agent and Transfer Agent. 
 The Issuer shall maintain (a) an office or agency where Notes may be presented for
registration of transfer or for exchange (the “Registrar”), (b) an office or agency in the United States where the Notes may be presented for payment (the “Paying Agent”), and (c) an office or agency to
act as transfer agent in respect of the Notes (the “Transfer Agent”). The Registrar shall keep a register of the Notes and of their transfer and exchange. The Registrar shall provide a copy of such register from time to time upon
request of the Issuer. The Issuer may have one or more co-registrars, one or more additional paying agents and one or more co-transfer agents. The term “Registrar” includes any co-registrars. The term “Paying Agents” means the
Paying Agent and any additional paying agents. The term “Transfer Agent” includes any co-transfer agents. The Issuer or any Affiliate thereof may act as Registrar, a Paying Agent or a Transfer Agent. The Company may change or remove any
Registrar, Paying Agent or Transfer Agent without prior notice to the Holders. 
 The Issuer shall enter into an appropriate agency
agreement, which shall incorporate the provisions of the TIA, with any Agent that is not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Issuer shall notify the Trustee of the
name and address of any such Agent. If the Issuer fails to maintain a Registrar or any required co-registrar or Paying Agent, or fails to give the foregoing notice, the Trustee shall act as such and shall be entitled to appropriate compensation in
accordance with Section 7.07. 
 The Issuer initially appoints the Trustee as Registrar, Paying Agent, Transfer Agent and agent for
service of notices and demands in connection with the Notes and this Indenture, and the Trustee hereby accepts such appointment. The Issuer initially appoints DTC to act as Depository with respect to the Global Notes. 

SECTION 2.05. Paying Agent To Hold Money. 

The Paying Agent shall hold for the Noteholders or the Trustee all money held by the Paying Agent for the payment of principal of or premium or
interest on the Notes (whether such money has been paid to it by the Issuer, one or more of the Guarantors or any other obligor on the Notes), and the Issuer and the Paying Agent shall notify the Trustee of any default by the Issuer (or any other
obligor on the Notes) in making any such payment. 

  
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Money held by a Paying Agent need not be segregated except as required by law and in no event shall a Paying Agent be liable for any interest on any money received by it hereunder. The Issuer at
any time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed and the Trustee may at any time during the continuance of any Event of Default specified in Section 6.01(1) or (2), upon written
request to a Paying Agent, require such Paying Agent to pay forthwith all money so held by it to the Trustee and to account for any funds disbursed. Upon making such payment, such Paying Agent shall have no further liability for the money delivered
to the Trustee. 
 SECTION 2.06. Noteholder 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
the Noteholders. If the Trustee is not the Registrar, the Issuer shall furnish to the Trustee at least five Business 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 the Noteholders. 
 SECTION 2.07. Transfer and Exchange. 

Subject to Sections 2.16 and 2.17, when Notes are presented to the Registrar with a request from the Holder of such Notes to register a
transfer or to exchange them for an equal principal amount of Notes of other authorized denominations, the Registrar shall register the transfer as requested. Every Note presented or surrendered for registration of transfer or exchange shall be duly
endorsed or be accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Registrar, duly executed by the Holder thereof or his attorneys duly authorized in writing. To permit registrations of transfers and exchanges,
the Issuer shall issue and execute and, upon receipt of an Authentication Order in accordance with Section 2.01, the Trustee shall authenticate new Notes evidencing such transfer or exchange at the Registrar’s request. No service charge
shall be made to the Noteholder for any registration of transfer or exchange. The Issuer may require from the Noteholder payment of a sum sufficient to cover any transfer taxes or other governmental charge that may be imposed in relation to a
transfer or exchange, but this provision shall not apply to any exchange pursuant to Section 2.11, 3.06, 4.08, 4.12 or 8.05 (in which event the Issuer shall be responsible for the payment of such taxes). Neither the Issuer nor the Registrar
shall be required to transfer or exchange any Note or portion of a Note selected for redemption, except the unredeemed portion of any Note redeemed in part. Neither the Issuer nor the Registrar shall be required to transfer or exchange any Note
during the period beginning at the opening of business 15 days immediately preceding the mailing of notice of redemption of Notes pursuant to Section 3.03 and ending at the close of business on the day of such mailing. 

Any Holder of a Global Note shall, by acceptance of such Global Note, agree that transfers of the beneficial interests in such Global Note may
be effected only through a 

  
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book entry system maintained by the Holder of such Global Note (or its agent), and that ownership of a beneficial interest in the Global Note shall be required to be reflected in a book entry. By
its acceptance of any Note bearing the Private Placement Legend, each Holder of such Note acknowledges the restrictions on transfer of such Note set forth in this Indenture and in the Private Placement Legend and agrees that it will transfer such
Note only as provided in this Indenture. 
 SECTION 2.08. Replacement Notes. 

If a mutilated Note is surrendered to the Registrar or the Trustee, or if the Holder of a Note claims that the Note has been lost, destroyed or
wrongfully taken, the Issuer shall issue and, upon receipt of an Authentication Order in accordance with Section 2.01, the Trustee shall authenticate a replacement Note if the Holder of such Note furnishes to the Issuer and the Trustee evidence
reasonably acceptable to them of the ownership and the destruction, loss or theft of such Note and if the requirements of Section 8-405 of the New York Uniform Commercial Code as in effect on the date of
this Indenture are met. If required by the Trustee or the Issuer, an indemnity bond shall be posted, sufficient in the judgment of all to protect the Issuer, the Guarantors, the Trustee, the Registrar, the Transfer Agent and any Paying Agent from
any loss that any of them may suffer if such Note is replaced. The Issuer may charge such Holder for the Issuer’s reasonable out-of-pocket expenses in replacing such Note and the Trustee may charge the Issuer for the Trustee’s
out-of-pocket expenses (including, without limitation, attorneys’ fees and disbursements) in replacing such Note. Every replacement Note shall constitute a contractual obligation of the Issuer. 

SECTION 2.09. Outstanding Notes. 
 The
Notes outstanding at any time are all Notes that have been authenticated by the Trustee except for (a) those canceled by or on behalf of the Trustee, (b) those delivered to the Trustee for cancellation, (c) to the extent set forth in
Sections 9.01 and 9.02, on or after the date on which the conditions set forth in Section 9.01 or 9.02 have been satisfied, those Notes theretofore authenticated by the Trustee hereunder and (d) those described in this
Section 2.09 as not outstanding. Subject to Section 2.10, a Note does not cease to be outstanding because the Issuer or one of its Affiliates holds the Note; provided, that Notes held by the Issuer or a Subsidiary of the Issuer will
be deemed not to be outstanding for purposes of paragraph 5(a)(1) of the Notes, except that in determining whether the Trustee shall be protected in relying upon any request, demand, authorization, direction, notice, consent or waiver, only Notes
that a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. 
 If a Note is replaced pursuant to
Section 2.08, it ceases to be outstanding unless the Trustee receives proof satisfactory to the Trustee that the replaced Note is held by a bona fide purchaser in whose hands such Note is a legal, valid and binding obligation of the Issuer.

  
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 If a Paying Agent holds, in its capacity as such, on any Maturity Date, U.S. Dollars sufficient
to pay all accrued interest and principal with respect to the Notes payable on that date and is not prohibited from paying such money to the Holders thereof pursuant to the terms of this Indenture, then on and after that date such Notes shall cease
to be outstanding and interest on them shall cease to accrue. 
 SECTION 2.10. Treasury Notes. 

In determining whether the Holders of the required principal amount of Notes have concurred in any declaration of acceleration or notice of
default or direction, waiver or consent or any amendment, modification or other change to this Indenture, Notes owned by the Issuer or any other Affiliate of the Issuer shall be disregarded as though they were not outstanding, except that for the
purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent or any amendment, modification or other change to this Indenture, only Notes as to which a Responsible Officer of the Trustee has
actually received an Officer’s Certificate stating that such Notes shall be so disregarded. Notes so owned which have been pledged in good faith shall not be disregarded if the pledgee established to the satisfaction of the Trustee the
pledgee’s right so to act with respect to the Notes and that the pledgee is not the Issuer, a Guarantor, any other obligor on the Notes or any of their respective Affiliates. 

SECTION 2.11. Temporary Notes. 
 Until
definitive Notes are prepared and ready for delivery, the Issuer may prepare and, upon receipt of an Authentication Order in accordance with Section 2.01, the Trustee shall authenticate temporary Notes. Temporary Notes shall be substantially in
the form of definitive Notes but may have variations that the Issuer considers appropriate for temporary Notes. Without unreasonable delay, the Issuer shall prepare and, upon receipt of an Authentication Order of the Issuer in the form of an
Officer’s Certificate in accordance with Section 2.01, the Trustee shall authenticate definitive Notes in exchange for temporary Notes. Until such exchange, temporary Notes shall be entitled to the same rights, benefits and privileges as
definitive Notes. 
 SECTION 2.12. Cancellation. 

The Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar, the Transfer Agent and the Paying Agent shall forward
to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. Upon the direction of the Issuer, the Trustee shall cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or
cancellation and shall dispose of such canceled Notes in its customary manner. The Trustee will deliver certification of cancelled Notes to the Issuer upon request. The Issuer may not reissue or resell or issue new Notes to replace Notes that the
Issuer has redeemed or paid, or that have been delivered to the Trustee for cancellation. 

  
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 SECTION 2.13. Defaulted Interest. 

If the Issuer defaults on a payment of interest on the Notes, the Issuer shall pay the defaulted interest then borne by the Notes plus (to the
extent permitted by law) any interest payable on the defaulted interest, in accordance with the terms hereof, to the Persons who are Holders thereof on a subsequent special record date, which date shall be at least five Business Days prior to the
payment date. At least 10 days before such special record date, the Issuer (or, upon written request of the Issuer, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed to each affected Noteholder a notice that
states the special record date, the payment date and the amount of defaulted interest, and interest payable on defaulted interest, if any, to be paid. The Issuer may make payment of any defaulted interest in any other lawful manner not inconsistent
with the requirements (if applicable) of any securities exchange on which the Notes may be listed and, upon such notice as may be required by such exchange, if, after written notice given by the Issuer to the Trustee of the proposed payment pursuant
to this sentence, such manner of payment shall be deemed practicable by the Trustee. 
 Notwithstanding the foregoing, any interest which is
paid prior to the expiration of the 30-day period set forth in Section 6.01(1) shall be paid to Holders as of the record date for the Interest Payment Date for which interest has not been paid. 

SECTION 2.14. CUSIP and ISIN Numbers. 

The Issuer in issuing the Notes may use “CUSIP” and “ISIN” numbers, and if so used, such CUSIP and ISIN numbers shall be
included in notices of redemption or exchange as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP or ISIN numbers printed in the notice or on the
Notes, and that reliance may be placed only on the other identification numbers printed on the Notes. Any such redemption or exchange shall be unaffected by any omission or inaccuracy of such CUSIP, ISIN or other identification numbers. The Issuer
shall promptly notify the Trustee, in writing, of any such CUSIP or ISIN number used by the Issuer in connection with the issuance of the Notes and of any change in any such CUSIP or ISIN number. 

SECTION 2.15. Deposit of Moneys. 
 Prior
to 11:00 A.M., New York City time, on each Interest Payment Date and Maturity Date, the Issuer shall have deposited with the Paying Agent in immediately available funds U.S. Dollars sufficient to make cash payments, if any, due on such Interest
Payment Date or Maturity Date, as the case may be. The principal and interest on Global Notes shall be payable to the Depository or its nominee, as the case may be, as the sole registered owner and the sole Holder of the Global Notes represented
thereby. The principal and interest on Physical Notes shall be payable, either in person, by wire transfer or by mail, at the office of the Paying Agent. Final payment of principal at maturity will only be made by the Trustee upon surrender of the
related Note to the Trustee at its Corporate Trust Office. 

  
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 SECTION 2.16. Book-Entry Provisions for Global Notes. 

(a) Rule 144A Notes initially shall be represented by one or more Notes in registered, global form without interest coupons (collectively, the
“Rule 144A Global Note”). Regulation S Notes initially shall be represented by one or more Notes in registered, global form without interest coupons (collectively, the “Regulation S Global Note”). The term
“Global Notes” means the Rule 144A Global Note and the Regulation S Global Note. The Global Notes shall bear the Global Note Legend. The Global Notes initially shall (i) be registered in the name of the nominee of such
Depository, in each case for credit to an account of an Agent Member, (ii) be delivered to the Depository and (iii) bear the Private Placement Legend. 

Members of, or direct or indirect participants in, the Depository (“Agent Members”) shall have no rights under this Indenture
with respect to any Global Note held on their behalf by the Depository or under the Global Notes. The Depository may be treated by the Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute owner of the Global Notes for all
purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the
Depository or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Note. 

(b) Transfers of Global Notes shall be limited to transfer in whole, but not in part, to the Depository, its successors or their respective
nominees. Interests of Beneficial Owners in the Global Notes may be transferred or exchanged for Physical Notes only in accordance with the applicable rules and procedures of the Depository and the provisions of Section 2.17. In addition, a
Global Note shall be exchangeable for Physical Notes (i) if requested by a holder of such interests upon receipt by the Trustee of written instructions from the Depository or its nominee on behalf of any Beneficial Owner and in accordance with
the rules and procedures of the Depository and provisions of Section 2.16, (ii) if the Depository notifies the Issuer that it (x) is unwilling or unable to continue as depository for such Global Note or (y) has ceased to
be a clearing agency registered under the Exchange Act, and the Issuer thereupon fails to appoint a successor depository within 120 days, (iii) if there shall have occurred and be continuing Default or Event of Default with respect to such
Global Note or (iv) if the Issuer determines that all Global Notes should be exchanged for Physical Notes and so notifies the Trustee and the Depository in writing; provided that in no event shall a Regulation S Global Note be exchanged
for a Physical Note prior to the expiration of the Restricted Period and the receipt of any certificates required by Regulation S. In all cases, Physical Notes delivered in exchange for any Global Note or beneficial interests therein shall be
registered in the names, and issued in any approved denominations, requested by or on behalf of the Depository in accordance with its customary procedures. 

  
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 (c) In connection with the transfer of a Global Note as an entirety to Beneficial Owners pursuant
to subsection (b) of this Section 2.16, such Global Note shall be deemed to be surrendered to the Trustee for cancellation, and the Issuer shall execute and, upon receipt of an Authentication Order in accordance with Section 2.01, the
Trustee shall authenticate and deliver, to each Beneficial Owner identified by the Depository in writing in exchange for its beneficial interest in such Global Note, an equal aggregate principal amount of Physical Notes of authorized denominations.

 (d) Any Restricted Physical Note delivered in exchange for an interest in a Global Note pursuant to Section 2.17 shall, except as
otherwise provided in Section 2.17, bear the Private Placement Legend. 
 (e) Notwithstanding the foregoing, through and including the
40th day after the later of the commencement of the offering of the Notes represented by a Regulation S Global Note and the issue date of such Notes (such period through and including such 40th day, the “Restricted Period”), a
beneficial interest in such Regulation S Global Note shall bear a legend in the form set forth on Exhibit E through such date, which may be held only through Euroclear or Clearstream unless delivery is made in accordance with the applicable
provisions of Section 2.17. 
 (f) The Holder of any Global Note may grant proxies and otherwise authorize any Person, including Agent
Members and Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Notes. 

SECTION 2.17. Transfer and Exchange of Notes. 

(a) Transfer and Exchange of Global Notes. A Global Note may not be transferred as a whole except as set forth in Section 2.16(b).
Global Notes will not be exchanged by the Issuer for Physical Notes except under the circumstances described in Section 2.16(b). Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.08 and 2.11.
Beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.17(b) or 2.17(f). 
 (b) Transfer
and Exchange of Beneficial Interests in Global Notes. The transfer and exchange of beneficial interests in the Global Notes shall be effected through the Depository, in accordance with the provisions of this Indenture and the applicable rules
and procedures of the Depository. Beneficial interests in Restricted Global Notes shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Beneficial interests in Global Notes
shall be transferred or exchanged only for 

  
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beneficial interests in Global Notes. Transfers and exchanges of beneficial interests in the Global Notes also shall require compliance with either subparagraph (i) or (ii) below, as
applicable, as well as one or more of the other following subparagraphs, as applicable: 
 (i) Transfer of Beneficial
Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer
restrictions set forth in the Private Placement Legend; provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in a Regulation S Global Note may not be made to a U.S. Person or for
the account or benefit of a U.S. Person (other than an Initial Purchaser). A beneficial interest in an Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global
Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.17(b)(i). 

(ii) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and
exchanges of beneficial interests in any Global Note that is not subject to Section 2.17(b)(i), the transferor of such beneficial interest must deliver to the Registrar (1) a written order from an Agent Member given to the Depository in
accordance with the applicable rules and procedures of the Depository directing the Depository to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or
exchanged and (2) instructions given in accordance with the applicable rules and procedures of the Depository containing information regarding the Agent Member account to be credited with such increase. Upon satisfaction of all of the
requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 2.17(f). 

(iii) Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial interest in a Restricted Global
Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of Section 2.17(b)(ii) above and the Registrar receives the
following: 
 (A) if the transferee will take delivery in the form of a beneficial interest in a Rule 144A Global Note, then
the transferor must deliver a certificate in the form of Exhibit F, including the certifications in item (1) thereof; and 

(B) if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global Note, then the
transferor must deliver a certificate in the form of Exhibit F, including the certifications in item (2) thereof. 

  
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 (iv) Transfer and Exchange of Beneficial Interests in a Restricted Global Note
for Beneficial Interests in an Unrestricted Global Note. A beneficial interest in a Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes
delivery thereof in the form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.17(b)(ii) above and the Registrar receives the following: 

(A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a
beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit G, including the certifications in item (1)(a) thereof; or 

(B) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit F, including the certifications in item (4) thereof, 

and, in each such case, if the Registrar or the Issuer so requests or if the applicable rules and procedures of the Depository, so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar and the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private
Placement Legend are no longer required in order to maintain compliance with the Securities Act. If any such transfer or exchange is effected pursuant to this subparagraph (iv) at a time when an Unrestricted Global Note has not yet been issued,
the Issuer shall issue and, upon receipt of an Authentication Order in accordance with Section 2.01, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount
of beneficial interests transferred or exchanged pursuant to this subparagraph (iv). 
 (v) Transfer and Exchange of
Beneficial Interests in an Unrestricted Global Note for Beneficial Interests in a Restricted Global Note. Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the
form of, a beneficial interest in a Restricted Global Note. 
 (c) Transfer and Exchange of Beneficial Interests in Global Notes for
Physical Notes. A beneficial interest in a Global Note may not be exchanged for a Physical Note except under the circumstances described in Section 2.16(b). A beneficial interest in a Global Note may not be transferred to a Person who takes
delivery thereof in the form of a Physical Note except under the circumstances described in Section 2.16(b). 

  
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 (d) Transfer and Exchange of Physical Notes for Beneficial Interests in Global Notes.
Physical Notes shall be transferred or exchanged only for beneficial interests in Global Notes as described below: 
 (i)
Restricted Physical Notes to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted Physical Note proposes to exchange such Restricted Physical Note for a beneficial interest in a Restricted Global Note or to transfer
such Restricted Physical Note to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon receipt by the Registrar of the following documentation: 

(A) if the Holder of such Restricted Physical Note proposes to exchange such Restricted Physical Note for a beneficial interest
in a Restricted Global Note, a certificate from such Holder in the form of Exhibit G, including the certifications in item (2)(a) thereof; 

(B) if such Restricted Physical Note is being transferred to a Qualified Institutional Buyer in accordance with Rule 144A under
the Securities Act, a certificate to the effect set forth in Exhibit F, including the certifications in item (1) thereof; 

(C) if such Restricted Physical Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance with
Rule 903 or Rule 904 under the Securities Act, a certificate to the effect set forth in Exhibit F, including the certifications in item (2) thereof; 

(D) if such Restricted Physical Note is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule 144 under the Securities Act, a certificate to the effect set forth in Exhibit F, including the certifications in item (3)(a) thereof; 

(E) if such Restricted Physical Note is being transferred to an Institutional Accredited Investor in reliance on an exemption
from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit F, including the certifications, certificates and opinion of
counsel required by item (3)(d) thereof, if applicable; or 
 (F) if such Restricted Physical Note is being transferred
to the Issuer or a Subsidiary thereof, a certificate to the effect set forth in Exhibit F, including the certifications in item (3)(b) thereof, 

  
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 the Trustee shall cancel the Restricted Physical Note, and upon receipt of proper instructions
initiated by such Holder through DTC, increase or cause to be increased the aggregate principal amount of the appropriate Restricted Global Note. 

(ii) Restricted Physical Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of a Restricted Physical
Note may exchange such Restricted Physical Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Physical Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global
Note only if the Registrar receives the following: 
 (A) if the Holder of such Restricted Physical Note proposes to exchange
such Restricted Physical Note for a beneficial interest in an Unrestricted Global Note, a certificate from such Holder in the form of Exhibit G, including the certifications in item (1)(b) thereof; or 

(B) if the Holder of such Restricted Physical Notes proposes to transfer such Restricted Physical Note to a Person who shall
take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such Holder in the form of Exhibit F, including the certifications in item (4) thereof, 

and, in each such case, if the Registrar or the Issuer so requests or if the applicable rules and procedures of the Depository so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar and the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private
Placement Legend are no longer required in order to maintain compliance with the Securities Act. Upon satisfaction of the conditions of this subparagraph (ii), the Trustee shall cancel the Restricted Physical Notes and upon receipt of proper
instructions initiated by such Holder through DTC, increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. If any such transfer or exchange is effected pursuant to this subparagraph (ii) at a time when
an Unrestricted Global Note has not yet been issued, the Issuer shall issue and, upon receipt of an Authentication Order in accordance with Section 2.01, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate
principal amount equal to the aggregate principal amount of Restricted Physical Notes transferred or exchanged pursuant to this subparagraph (ii). 

(iii) Unrestricted Physical Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted
Physical Note may exchange such Unrestricted Physical Note for a beneficial interest in an Unrestricted Global Note or transfer such Unrestricted Physical Note to a Person who takes delivery thereof in the form of a beneficial interest in an
Unrestricted Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted 

  
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Physical Note and upon receipt of proper instructions initiated by such Holder through DTC, increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global
Notes. If any such transfer or exchange is effected pursuant to this subparagraph (iii) at a time when an Unrestricted Global Note has not yet been issued, the Issuer shall issue and, upon receipt of an Authentication Order in accordance with
Section 2.01, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of Unrestricted Physical Notes transferred or exchanged pursuant to this subparagraph
(iii). 
 (iv) Unrestricted Physical Notes to Beneficial Interests in Restricted Global Notes. An Unrestricted
Physical Note cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a beneficial interest in a Restricted Global Note. 

(e) Transfer and Exchange of Physical Notes for Physical Notes. Upon request by a Holder of Physical Notes and such Holder’s
compliance with the provisions of this Section 2.17(e), the Registrar shall register the transfer or exchange of Physical Notes. Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the
Registrar the Physical Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder
shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.17(e). 

(i) Restricted Physical Notes to Restricted Physical Notes. A Restricted Physical Note may be transferred to and
registered in the name of a Person who takes delivery thereof in the form of a Restricted Physical Note if the Registrar receives the following: 

(A) if the transfer will be made pursuant to Rule 144A under the Securities Act, then the transferor must deliver a certificate
in the form of Exhibit F, including the certifications in item (1) thereof; 
 (B) if the transfer will be
made pursuant to Rule 903 or Rule 904 under the Securities Act, then the transferor must deliver a certificate in the form of Exhibit F, including the certifications in item (2) thereof; 

(C) if the transfer will be made pursuant to an exemption from the registration requirements of the Securities Act in
accordance with Rule 144 under the Securities Act, a certificate to the effect set forth in Exhibit F, including the certifications in item (3)(a) thereof; 

  
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 (D) if the transfer will be made to an Institutional Accredited Investor in
reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (A) through (C) above, a certificate to the effect set forth in Exhibit F, including the certifications,
certificates and opinion of counsel required by item (3)(d) thereof, if applicable; and 
 (E) if such transfer will be
made to the Issuer or a Subsidiary thereof, a certificate to the effect set forth in Exhibit F, including the certifications in item (3)(b) thereof. 

(ii) Restricted Physical Notes to Unrestricted Physical Notes. Any Restricted Physical Note may be exchanged by the
Holder thereof for an Unrestricted Physical Note or transferred to a Person who takes delivery thereof in the form of an Unrestricted Physical Note if the Registrar receives the following: 

(1) if the Holder of such Restricted Physical Note proposes to exchange such Restricted Physical Note for an Unrestricted
Physical Note, a certificate from such Holder in the form of Exhibit G, including the certifications in item (1)(c) thereof; or 

(2) if the Holder of such Restricted Physical Note proposes to transfer such Notes to a Person who shall take delivery thereof
in the form of an Unrestricted Physical Note, a certificate from such Holder in the form of Exhibit F, including the certifications in item (4) thereof, 

and, in each such case, if the Registrar or the Issuer so requests, an Opinion of Counsel in form reasonably acceptable to the Issuer to the
effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act.

 (iii) Unrestricted Physical Notes to Unrestricted Physical Notes. A Holder of an Unrestricted Physical Note may
transfer such Unrestricted Physical Notes to a Person who takes delivery thereof in the form of an Unrestricted Physical Note at any time. Upon receipt of a request to register such a transfer, the Registrar shall register the Unrestricted Physical
Notes pursuant to the instructions from the Holder thereof. 
 (iv) Unrestricted Physical Notes to Restricted Physical
Notes. An Unrestricted Physical Note cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a Restricted Physical Note. 

(f) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been
exchanged for Physical Notes or a 

  
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particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to or retained and canceled by the Trustee in accordance with
Section 2.12. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or for
Physical Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee to reflect such
reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an
endorsement shall be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. 

(g) Private Placement Legend. Upon the registration of transfer, exchange or replacement of Notes not bearing the Private Placement
Legend, the Registrar shall deliver Notes that do not bear the Private Placement Legend. Upon the registration of transfer, exchange or replacement of Notes bearing the Private Placement Legend, the Registrar shall deliver only Notes that bear the
Private Placement Legend unless (i) there is delivered to the Registrar an Opinion of Counsel reasonably satisfactory to the Issuer and the Trustee to the effect that neither such legend nor the related restrictions on transfer are required in
order to maintain compliance with the provisions of the Securities Act or (ii) such Note has been sold pursuant to an effective registration statement under the Securities Act and the Registrar has received an Officer’s Certificate from
the Issuer to such effect. 
 (h) General. All Global Notes and Physical Notes issued upon any registration of transfer or exchange
of Global Notes or Physical Notes shall be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Physical Notes surrendered upon such registration of transfer or
exchange. 
 Notwithstanding anything to the contrary contained herein, neither the Trustee nor the Registrar shall be responsible for
ascertaining whether any transfer complies with the registration provisions of or exemptions from the Securities Act or other applicable law. 

The Registrar shall retain for a period of two years following receipt copies of all letters, notices and other written communications
received pursuant to Section 2.16 or this Section 2.17. The Issuer shall have the right to inspect and make copies of all such letters, notices or other written communications at any reasonable time upon the giving of reasonable notice to
the Registrar. 

  
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 SECTION 2.18. Computation of Interest. 

Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. 

ARTICLE THREE 
 REDEMPTION 

SECTION 3.01. Election To Redeem; Notices to Trustee. 

If the Issuer elects to redeem Notes pursuant to paragraph 5 of the Notes, at least 45 days prior to the Redemption Date (unless a shorter
notice shall be agreed to in writing by the Trustee) but not more than 65 days before the Redemption Date, the Issuer shall notify the Trustee in writing of the Redemption Date, the principal amount of Notes to be redeemed and the redemption
price(s) (or the appropriate method for calculation thereof, if not then ascertainable), and deliver to the Trustee an Officer’s Certificate stating that such redemption will comply with the applicable conditions contained in paragraph 5 of the
Notes. Except as provided in Section 3.04, notice given to the Trustee pursuant to this Section 3.01 may not be revoked after the time that notice is given to Noteholders pursuant to Section 3.03. 

SECTION 3.02. Selection by Trustee of Notes To Be Redeemed. 

If less than all of the Notes are to be redeemed at any time, selection of such Notes for redemption will be made by the Trustee in compliance
with the requirements of the principal national securities exchange, if any, on which the Notes to be redeemed are listed or, if such Notes are not so listed, on a pro rata basis by lot or by such method as the Trustee deems fair and
appropriate; provided that no Note with a principal amount of $2,000 or less shall be redeemed in part. For all purposes of this Indenture unless the context otherwise requires, provisions of this Indenture that apply to Notes called for
redemption also apply to portions of Notes called for redemption. Redemption amounts shall only be paid upon presentation and surrender of any such Notes to be redeemed to the Trustee at its Corporate Trust Office. 

SECTION 3.03. Notice of Redemption. 
 At
least 30 days, and no more than 60 days, before a Redemption Date, the Issuer shall mail, or cause to be mailed, a notice of redemption by first-class mail to each Holder of Notes to be redeemed at the address of such Holder appearing in the
register maintained by the Registrar pursuant to Section 2.06 or otherwise in accordance with the procedures of the Depository. 

  
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 The notice shall identify the Notes to be redeemed (including the CUSIP and/or ISIN numbers
thereof) and shall state: 
 (1) the Redemption Date; 

(2) the redemption price (or the appropriate method for calculation thereof, if not then ascertainable) and the amount of
premium and accrued interest to be paid; 
 (3) if any Note is being redeemed in part, the portion of the principal amount of
such Note to be redeemed and that, after the Redemption Date and upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion will be issued to the Holder upon cancellation of the surrendered Note; 

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

(5) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price; 

(6) that unless the Issuer defaults in making the redemption payment, interest on Notes called for redemption ceases to accrue
on and after the Redemption Date; 
 (7) that paragraph 5 of the Notes is the provision of the Notes pursuant to which the
redemption is occurring; 
 (8) the aggregate principal amount of Notes that are being redeemed; and 

(9) any condition applicable to such redemption under Section 3.04. 

At the Issuer’s written request made at least 5 Business Days prior to the date on which notice is to be given (or such shorter period
acceptable to the Trustee), the Trustee shall give the notice of redemption in the Issuer’s name and at the Issuer’s sole expense. 

The Issuer will calculate any Applicable Redemption Premium, and the Trustee shall have no duty to confirm or verify such calculation. 

SECTION 3.04. Effect of Notice of Redemption. 

Once the notice of redemption described in Section 3.03 is mailed and subject to the proviso to this sentence, Notes called for redemption
become due and payable on the Redemption Date and at the redemption price, including any premium, plus interest accrued to (but not including) the Redemption Date; provided, however, that any redemption and notice

  
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thereof pursuant to this Indenture may, at the Issuer’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion of a public or private offering
for cash by the Issuer or other corporate transaction. Failure to give such notice or any defect in such notice to any Holder shall not affect the validity of the proceedings for the redemption of any other Note. If mailed in the manner herein
provided, such notice shall be conclusively presumed to have been given, whether or not a Holder receives such notice. 
 Upon surrender to
the Paying Agent, such Notes shall be paid at the redemption price, including any premium, plus interest accrued to the Redemption Date; provided that if the Redemption Date is after a regular record date and on or prior to the Interest
Payment Date, the accrued interest shall be payable to the Holder of the redeemed Notes registered on the relevant record date. 
 SECTION 3.05. Deposit
of Redemption Price. 
 On or prior to 11:00 A.M., New York City time (or such later time of day to which the Trustee may reasonably
agree), on each Redemption Date, the Issuer shall deposit with the Paying Agent U.S. Dollars sufficient to pay the redemption price of, including premium, if any, and accrued interest on any and all Notes to be redeemed on that date (other than
Notes or portions thereof called for redemption on that date which have been delivered by the Issuer to the Trustee for cancellation). The Paying Agent shall promptly return to the Issuer any money deposited with the Paying Agent in excess of the
amount necessary to pay such redemption price. 
 On and after any Redemption Date, if money sufficient to pay the redemption price of,
including premium, if any, and accrued interest on all Notes called for redemption shall have been made available in accordance with the immediately preceding paragraph, the Notes called for redemption will cease to accrue interest and the only
right of the Holders of such Notes will be to receive payment of the redemption price of and, subject to the second proviso in Section 3.04, accrued and unpaid interest on such Notes to (but not including) the Redemption Date. If any Note
surrendered for redemption shall not be so paid, interest will be paid, from the Redemption Date until such redemption payment is made, on the unpaid principal of the Note and any interest not paid on such unpaid principal, in each case at the rate
and in the manner provided in the Notes. 
 SECTION 3.06. Notes Redeemed in Part. 

Upon surrender of a Note that is redeemed in part, the Issuer shall execute and, upon receipt of an Authentication Order in accordance with
Section 2.01, the Trustee shall authenticate for the Holder thereof a new Note equal in principal amount to the unredeemed portion of the Note surrendered; provided, that the principal amount of each new Note shall be $2,000 or an
integral multiple of $1,000 in excess thereof. 

  
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 SECTION 3.07. Mandatory Redemption. 

Except as provided in Section 4.08, the Issuer is not required to make any mandatory redemption of the Notes or any sinking fund payments
with respect to the Notes. 
 ARTICLE FOUR 

COVENANTS 
 SECTION 4.01. Payment of
Notes. 
 The Issuer shall pay or cause to be paid the principal of and interest on the Notes on the dates and in the manner provided in
the Notes and this Indenture. Subject to Section 11.07, an installment of principal or interest shall be considered paid on the date it is due if the Trustee or the Paying Agents hold on that date, at the time specified in Section 2.15 or
3.05, as applicable, U.S. Dollars designated for and sufficient to pay such installment. 
 The Issuer shall pay or cause to be paid
interest on overdue principal (including post-petition interest in a proceeding under any Bankruptcy Law), and overdue interest, to the extent lawful, at the rate specified in the Notes. 

SECTION 4.02. Maintenance of Office or Agency. 

(a) The Issuer shall maintain in the United States an office or agency (which may be an office of the Trustee or Registrar or an affiliate of
the Trustee or Registrar) where Notes may be surrendered for registration of transfer or for exchange. The Issuer shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any
time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations and surrenders may be made or served at the Corporate Trust Office of the Trustee. 

(b) The Issuer may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for
any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Issuer of its obligation to maintain such an office or agency in
the United States. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

(c) The Issuer hereby designates the Corporate Trust Office of the Trustee as such office or agency of the Issuer in accordance with
Section 2.04. 

  
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 SECTION 4.03. Legal Existence. 

Except as permitted by Article Five, the Issuer shall do or cause to be done all things necessary to preserve and keep in full force and effect
(i) its legal existence, and the corporate, partnership or other existence of each Guarantor, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Issuer and each such Guarantor and
(ii) the material rights (charter and statutory) and franchises of the Issuer and such Guarantors; provided that the Issuer shall not be required to preserve any such right, franchise, or the corporate, partnership or other existence of
any of its Guarantors if the Board of Directors of the Issuer or of such Guarantor shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Issuer and its Guarantors, taken as a whole, and that the
loss thereof is not adverse in any material respect to the Holders. 
 SECTION 4.04. Compliance with Law. 

The Issuer shall, and shall cause each Guarantor to, comply with all statutes, laws, ordinances or government rules and regulations to which
they are subject, non-compliance with which would materially adversely affect the business, financial condition or results of operations of the Issuer and its Guarantors, taken as a whole. 

SECTION 4.05. Waiver of Stay, Extension or Usury Laws. 

The Issuer and each of the Guarantors covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, or plead
(as a defense or otherwise) or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law which would prohibit or forgive the Issuer and any of the Guarantors from paying all or any
portion of the principal of, premium, if any, or interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture; and (to the extent that
they may lawfully do so) the Issuer and each of the Guarantors hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but
will suffer and permit the execution of every such power as though no such law had been enacted. 
 SECTION 4.06. Compliance Certificate. 

So long as any Notes are outstanding: 

(a) The Issuer shall deliver to the Trustee, within 120 days after the end of each Fiscal Year, a certificate of an Officer (as enumerated by
Section 314(a)(4) of the TIA) stating that the Officer has conducted or supervised a review of the activities of the Issuer and the Guarantors, and of the Issuer’s and the Guarantors’ performance under this Indenture during

  
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such Fiscal Year, and further stating that, to the best of such Officer’s knowledge, based upon such review, the Issuer has fulfilled all obligations under this Indenture or, if there has
been a Default under this Indenture that is continuing, a description of the event and what action the Issuer and the Guarantors are taking or propose to take with respect thereto. 

(b) The Issuer shall deliver to the Trustee, within ten Business Days after an Officer becomes aware of a Default or Event of Default, a
certificate of an Officer detailing any continuing Default or Event of Default. The Trustee may withhold from the Holders notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal
or interest) in accordance with Section 7.05. 
 (c) The Issuer shall promptly notify the Trustee, in writing, the first time the Notes
have an Investment Grade Rating by either Rating Agency; provided, however, that the failure to deliver such notice shall in no event be deemed a Default or an Event of Default. 

SECTION 4.07. Taxes. 
 The Issuer shall,
and shall cause each Guarantor to, pay prior to delinquency (i) all material taxes, assessments, and governmental levies and (ii) all lawful material claims for labor, materials and supplies which, in each case, if unpaid, might by law
become a Lien upon the property of the Issuer or any Guarantor; provided, however, that, neither Issuer nor any Guarantor shall be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim
where the failure to pay such tax is not materially adverse to the Holders or whose amount, applicability or validity is being contested in good faith and by appropriate actions diligently conducted, if adequate reserves with respect thereto are
maintained on the books of the applicable Person to the extent required in accordance with GAAP. 
 SECTION 4.08. Repurchase at the Option of Holders
upon Change of Control Triggering Event. 
 (a) If a Change of Control Triggering Event occurs, unless Quintiles has previously or
concurrently mailed or caused to be mailed notice of a redemption of all of the outstanding Notes under paragraph 5 of the Notes (unless and until there is a default in payment of the applicable redemption price), each Holder will have the right to
require Quintiles to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes pursuant to an offer (the “Change of Control Offer”) on the terms set forth in this
Section. In the Change of Control Offer, Quintiles will offer a payment (the “Change of Control Payment”) in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the
Notes repurchased, to (but not including) the date of purchase. 
 (b) Within 30 days following any Change of Control Triggering Event or,
at Quintiles’ option, prior to any Change of Control, but after public announcement of the 

  
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transaction that constitutes or may constitute the Change of Control, Quintiles will send or cause to be sent notice of such Change of Control Offer, with a copy to the Trustee and the Registrar,
by first-class mail, to each Holder to the address of such Holder appearing in the register maintained by the Registrar pursuant to Section 2.06 or otherwise in accordance with the procedures of the Depository, with the following information:

 (1) that a Change of Control Offer is being made pursuant to this Section 4.08 and that all Notes properly tendered
pursuant to such Change of Control Offer will be accepted for payment by Quintiles; 
 (2) the purchase price and the
purchase date, which will be no earlier than 30 days nor later than 60 days from the date such notice is mailed or, if the notice is mailed prior to the Change of Control, no earlier than 30 days and no later than 60 days after the date on which the
Change of Control Triggering Event occurs (the “Change of Control Payment Date”); 
 (3) that any Note not
properly tendered will remain outstanding and continue to accrue interest; 
 (4) that unless Quintiles defaults in the
payment of the Change of Control Payment, all Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue interest on the Change of Control Payment Date; 

(5) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender such
Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of such Notes completed, to the Paying Agent specified in the notice at the address specified in the notice prior to the close of business on the third
Business Day preceding the Change of Control Payment Date; 
 (6) that Holders tendering less than all of their Notes will be
issued new Notes and such new Notes will be equal in principal amount to the unpurchased portion of the Notes surrendered; and 

(7) other instructions determined by Quintiles, consistent with this Section 4.08, that a Holder must follow to tender
Notes pursuant to such Change of Control Offer. 
 On the Change of Control Payment Date, Quintiles shall, to the extent lawful: 

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

  
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 (2) deposit with the Paying Agent an amount equal to the aggregate Change of
Control Payment in respect of all Notes or portions of Notes properly tendered; and 
 (3) deliver, or cause to be delivered,
to the Trustee for cancellation the Notes so accepted together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by Quintiles. 

The Paying Agent will promptly send to each Holder of Notes so tendered the Change of Control Payment for such Notes, and the Trustee will
promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each such new Note will be in a principal
amount of $2,000 or an integral multiple of $1,000 in excess thereof. 
 If the Change of Control Payment Date is on or after an interest
record date and on or before the related interest payment date, any accrued and unpaid interest, if any, will be paid on the Change of Control Payment Date to the Person in whose name a Note is registered at the close of business on such record
date, and no additional interest will be payable to Holders who tender pursuant to the Change of Control Offer. 
 (c) Upon the payment of
the Change of Control Payment, the Trustee shall, subject to the provisions of Section 2.16, return the Notes purchased to the Issuer for cancellation. The Trustee may act as the Paying Agent for purposes of any Change of Control Offer. 

(d) Quintiles shall not be required to make a Change of Control Offer upon a Change of Control Triggering Event if a third party makes the
Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.08 applicable to a Change of Control Offer made by Quintiles and purchases all Notes properly tendered under the
Change of Control Offer. Any Change of Control Offer may be made in advance of a Change of Control Triggering Event, conditional upon such Change of Control Triggering Event, if a definitive agreement is in place for the Change of Control at the
time of making of the Change of Control Offer. 
 (e) Quintiles shall comply with the requirements of Rule 14e-1 under the Exchange Act, and
any other securities laws and regulations thereunder, to the extent such laws or regulations are applicable in connection with the repurchase of Notes pursuant to a Change of Control Offer. To the extent that the provisions of any securities laws or
regulations conflict with the provisions of this Indenture, Quintiles shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this Indenture by virtue thereof. Quintiles
may from time to time repurchase Notes other than pursuant to a Change of Control Offer or optional redemption, whether by tender offer, open market purchase, or otherwise, in accordance with applicable securities laws. 

  
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 SECTION 4.09. Limitation on Liens. 

Except as provided in Section 4.11, Quintiles shall not, and shall not permit any Guarantor to, incur, issue or assume any Indebtedness
for borrowed money secured by any Lien upon any of its Principal Personal & Real Property (whether now owned or hereafter acquired) without making effective provision whereby the Notes shall be secured equally and ratably with (or prior to)
the Indebtedness so secured by a Lien on the same property, for so long as such Indebtedness is so secured. The foregoing restrictions will not, however, apply to Indebtedness secured by Permitted Liens. 

For purposes of this Section 4.09, if at the time any Indebtedness is incurred, issued or assumed, such Indebtedness is unsecured but is
later secured by a Lien, such Indebtedness shall be deemed to be incurred at the time that such Indebtedness is so secured by a Lien. 
 SECTION 4.10.
Limitation on Sale and Leaseback Transactions. 
 Except as provided in Section 4.11, neither Quintiles nor any Guarantor shall
enter into any Sale and Lease-Back Transaction with respect to any Principal Personal & Real Property with another Person (other than with Quintiles or a Guarantor) unless: 

(1) Quintiles or such Guarantor could incur Indebtedness secured by a Lien on the property to be leased without equally and
ratably securing the Notes; or 
 (2) the property leased pursuant to such arrangement is sold for a price at least equal to
such property’s fair value (as determined by Quintiles); or 
 (3) within 270 days of the effective date of any such
Sale and Lease-Back Transaction, Quintiles applies the net proceeds of the sale of the leased property, less the amount of net proceeds used to prepay, redeem or purchase the Notes, to the voluntary prepayment or retirement of Funded Debt of
Quintiles and its Subsidiaries (which may include the Notes) and/or the acquisition, construction or improvement of a property. 
 SECTION 4.11. Exempted
Transactions. 
 Notwithstanding Sections 4.09 and 4.10, if (i) the aggregate outstanding principal amount of all Indebtedness
of Quintiles and the Guarantors that is subject to and not otherwise permitted under Section 4.09 plus (ii) the aggregate Attributable Indebtedness in respect of Sale and Lease-Back Transactions that is subject to and not otherwise
permitted under Section 4.10 does not exceed an amount that would cause the Consolidated Secured Debt Ratio to exceed 4.00 to 1.00 (measured solely at the time of the incurrence of the Indebtedness secured by such a Lien or entry into such Sale
and Lease-Back Transaction, as applicable, 

  
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based on the consolidated balance sheet of Holdings as of the last day of the then most recent quarter for which financial statements are available), then: 

(1) Quintiles or any Guarantor may incur or Guarantee Indebtedness secured by Liens upon any property, assets or revenues; 

(2) Quintiles or any Guarantor may enter into any Sale and Lease-Back Transaction; and 

(3) Quintiles may Guarantee the obligations of any Guarantor under the preceding two clauses. 

SECTION 4.12. Reports to Holders. 
 (a) So
long as any Notes are outstanding, whether or not Holdings is required to file such information with the SEC, Quintiles shall furnish to the Trustee (and the Holders and Beneficial Owners of the Notes) to the extent not otherwise available on the
SEC’s Electronic Data Gathering, Analysis and Retrieval System (or any successor thereto) as promptly as is reasonably practicable after such information has been filed: 

(i) quarterly and annual financial information that would be required to be contained in a filing with the SEC on Forms 10-Q
and 10-K if Quintiles were required to file such Forms, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the annual information only, a report on the annual
financial statements by Quintiles’ certified independent accountants; and 
 (ii) all current reports that would be
required to be filed (as opposed to furnished) with the SEC on Form 8-K if Quintiles were required to file such reports. 
 (b) So long as
any Notes are outstanding, at any time that Holdings is not required to file or furnish with the SEC the reports and information required to be filed or furnished under clause (a) of this Section 4.12, Quintiles will also: 

(1) hold a quarterly conference call to discuss the information contained in the annual and quarterly reports required to be
furnished under clause (a) of this Section 4.12 (the “Financial Reports”) not later than 5 Business Days from the time Quintiles furnishes such information to the Trustee; 

(2) no fewer than 3 Business Days prior to the date of the conference call required to be held in accordance with clause
(1) above, issue a press release announcing, or utilize other means that will, in the reasonable judgment of Quintiles, advise Beneficial Owners of, the time and date of such conference call and directing

  
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the Beneficial Owners of the Notes, prospective investors and securities analysts to contact the investor relations office of Holdings to obtain the Financial Reports and information on how to
access such conference call; and 
 (3) either (x) maintain a non-public website to which Beneficial Owners of the
Notes, prospective investors and securities analysts are given access and to which the Financial Reports and conference call access details are posted or (y) distribute via electronic mail the Financial Reports and conference call details to
Beneficial Owners of the Notes, prospective investors and securities analysts who request to receive such distributions. 
 (c) Quintiles
may satisfy its obligations under this Section 4.12 with respect to financial information relating to Quintiles by furnishing financial information relating to its direct or indirect parent consistent with this Section 4.12. If the direct
or indirect parent has more than de minimis operations separate and apart from its ownership in Quintiles, then Quintiles will be required to provide consolidating information, which need not be audited, that explains in reasonable detail the
differences between the information relating to such parent and its subsidiaries, on the one hand, and the information relating to Quintiles and its Subsidiaries on a standalone basis, on the other hand. 

(d) In addition, Quintiles will furnish to Holders or Beneficial Owners of the Notes and any prospective purchaser of such Notes, upon their
request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act if not otherwise provided by Quintiles or Holdings as described above. 

(e) Delivery of such reports and information to the Trustee shall be for informational purposes only, and the Trustee’s receipt of them
shall not constitute constructive notice of any information contained therein or determinable from information contained therein (including the Issuer’s compliance with any of its covenants under this Indenture, as to which the Trustee is
entitled to rely exclusively on an Officer’s Certificate). 

  
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 SECTION 4.13. Additional Note Guarantees. 

(a) If Quintiles or any of its Subsidiaries acquires or creates another Subsidiary after the Issue Date that provides a guarantee of
Quintiles’ obligations under any Debt Facility (including the Credit Agreement) with an aggregate principal or committed amount of $300 million or more, then, within 10 Business Days after such Subsidiary provides such guarantee, such newly
acquired or created Subsidiary shall execute a supplemental indenture pursuant to which it will unconditionally Guarantee, on a joint and several basis, payment of principal of, premium, if any, and interest in respect of the Notes on a senior
unsecured basis on the same terms and conditions as those set forth in this Indenture, and will deliver an Opinion of Counsel addressed to the Trustee. 

(b) A Note Guarantee of any Guarantor shall be subject to release and discharge as provided under Article Ten. 

ARTICLE FIVE 
 SUCCESSOR
CORPORATION 
 SECTION 5.01. Consolidation, Merger and Sale of Assets. 

(a) Quintiles shall not, directly or indirectly: (1) consolidate or merge with or into another Person (whether or not Quintiles is the
surviving corporation); or (2) sell, assign, transfer, convey, lease or otherwise dispose of all or substantially all of the properties or assets of Quintiles and its Subsidiaries taken as a whole, in one or more related transactions, to
another Person; unless: 
 (1) either: (a) Quintiles is the surviving corporation; or (b) the Person formed by or
surviving any such consolidation or merger (if other than Quintiles) or to which such sale, assignment, transfer, conveyance, lease or other disposition has been made is a corporation organized or existing under the laws of the United States, any
state thereof or the District of Columbia; 
 (2) the Person formed by or surviving any such consolidation or merger (if
other than Quintiles) or the Person to which such sale, assignment, transfer, conveyance, lease or other disposition has been made assumes all the obligations of Quintiles under the Notes and this Indenture pursuant to a supplemental indenture in
form satisfactory to the Trustee; 
 (3) immediately after such transaction, on a pro forma basis giving effect to
such transaction or series of transactions (and treating any obligation of Quintiles or any Subsidiary incurred in connection with or as a result of such transaction or series of transactions as having been incurred at the time of such transaction),
no Default or Event of Default exists; and 

  
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 (4) an Opinion of Counsel and Officer’s Certificate have been delivered to
the Trustee. 
 (b) A Guarantor shall not sell or otherwise dispose of all or substantially all of its assets to, or consolidate with or
merge with or into (whether or not such Guarantor is the surviving Person), another Person, other than Quintiles or another Guarantor, unless: 

(1) immediately after giving effect to that transaction, no Default or Event of Default exists; 

(2) subject to Section 10.03, the Person acquiring the property in any such sale or disposition or the Person formed by or
surviving any such consolidation or merger assumes all the obligations of that Guarantor under this Indenture and its Note Guarantee pursuant to a supplemental indenture in form satisfactory to the Trustee; and 

(3) an Opinion of Counsel and Officer’s Certificate have been delivered to the Trustee. 

(c) This Section 5.01 shall not apply to a sale, assignment, transfer, conveyance or other disposition of assets between or among
Quintiles and any of the Guarantors. 
 SECTION 5.02. Successor Person Substituted. 

Upon any transaction described in Section 5.01(a) or (b), the successor Person formed by such consolidation or into which Quintiles or a
Guarantor is merged or to which such sale, assignment, transfer, conveyance, lease or other disposition is made, shall succeed to, and be substituted for, and may exercise every right and power of, Quintiles or such Guarantor under this Indenture
(including the Note Guarantee or Notes, as applicable) with the same effect as if such successor had been named as Quintiles or such Guarantor herein and therein. When a successor assumes all the obligations of its predecessor under this Indenture
(including the Note Guarantee and Notes, as applicable) in accordance with the foregoing provisions, the predecessor shall be automatically released from those obligations. 

  
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 ARTICLE SIX 

DEFAULTS AND REMEDIES 
 SECTION 6.01. Events
of Default. 
 Each of the following constitutes an “Event of Default” with respect to the Notes: 

(1) default for 30 days in the payment when due of interest on Notes; 

(2) default in payment when due of the principal of, or premium, if any, on the Notes (including the failure to repurchase
Notes validly tendered pursuant to a Change of Control Offer); 
 (3) failure by Quintiles or any Guarantor for 90 days after
receipt of the notice described below to comply with any of the other agreements in this Indenture (other than the covenants and agreements specified in clauses (1) through (2) of this Section 6.01); 

(4) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or
evidenced any Indebtedness for money borrowed by Quintiles or any Guarantor (or the payment of which is Guaranteed by Quintiles or any Guarantor), other than Indebtedness owed to Quintiles or any of its Subsidiaries, whether such Indebtedness or
Guarantee now exists, or is created after the Issue Date, if that default: 
 (a) is caused by a failure to pay principal of
such Indebtedness at its final stated maturity after giving effect to any grace period provided in such Indebtedness on the date of such default (a “Payment Default”); or 

(b) results in the holders of such Indebtedness causing it to become due prior to its express maturity, 

without such Indebtedness having been discharged or such acceleration rescinded, waived or annulled within 30 days after the notice described
below, and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $125
million or more; 
 (5) failure by Quintiles or any Guarantor to pay final, non-appealable judgments for the payment of money
as determined by a court of competent jurisdiction 

  
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aggregating in excess of $125 million that are not covered by insurance, which judgments remain outstanding for a period of 90 days after such judgment has become final and non-appealable and is
not discharged, waived or stayed within 30 days after the notice described below; 
 (6) (A) a court having jurisdiction
over the Issuer or any Guarantor that is a Significant Subsidiary enters (x) a decree or order for relief in respect of the Issuer or any Guarantor that is a Significant Subsidiary or group of Guarantors that, taken together, would constitute a
Significant Subsidiary in an involuntary case or proceeding under any Bankruptcy Law or (y) a decree or order adjudging Issuer or any Guarantor that is a Significant Subsidiary or group of Guarantors that, taken together, would constitute a
Significant Subsidiary as bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Issuer or any such Guarantor or group of Guarantors under any
Bankruptcy Law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Issuer or any such Guarantor or group of Guarantors or of any substantial part of its property, or ordering the winding
up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive days or (B) the Issuer or any Guarantor that is a Significant
Subsidiary or group of Guarantors that, taken together, would constitute a Significant Subsidiary (i) commences a voluntary case under any Bankruptcy Law or consents to the entry of an order for relief in an involuntary case under any
Bankruptcy Law, (ii) consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Issuer or any such Guarantor or group of Guarantors or for all or
substantially all the property and assets of the Issuer or any such Guarantor or group of Guarantors, (iii) effects any general assignment for the benefit of creditors or (iv) generally is not paying its debts as they become due; and 

(7) except as permitted by this Indenture, any Note Guarantee of a Significant Subsidiary shall be held in any
final, non-appealable judicial proceeding to be unenforceable or invalid or shall cease for any reason to be in full force and effect or any Guarantor that is a Significant Subsidiary, or any Person acting on behalf of any such Guarantor, shall deny
or disaffirm its obligations under its Note Guarantee. 
 Notwithstanding anything herein to the contrary, a Default under clause (3),
(4) or (5) will not become an Event of Default until the Trustee or the Holders of at least 25% in principal amount of the Notes then outstanding notify Quintiles of the Default and Quintiles does not cure such default within the time
specified after receipt of such notice. Such notice must specify the Default, demand that it be remedied and state that such notice is a “Notice of Default.” 

  
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 SECTION 6.02. Acceleration of Maturity. 

If an Event of Default occurs and is continuing under this Indenture, either the Trustee, by notice in writing to the Issuer, or the Holders of
at least 25% in aggregate principal amount of the Notes then outstanding may, by notice in writing to the Issuer and the Trustee, specifying the respective Event of Default and that it is a “Notice of Acceleration”, declare the principal
of and premium, if any, and accrued interest, if any, on the Notes to be due and payable, and upon such declaration of acceleration, such principal of and premium, if any, and accrued interest, if any, shall be immediately due and payable;
provided, however, that, notwithstanding the foregoing, if an Event of Default specified in Section 6.01(6) occurs with respect to the Issuer, the principal of and premium, if any, and accrued interest, if any, on the Notes then
outstanding shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 
 SECTION 6.03.
Other Remedies. 
 If an Event of Default occurs and is continuing, the Trustee may pursue any other available remedy by proceeding at
law or in equity to collect the payment of principal of, or premium, if any, and interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture and may take any necessary action requested by the Holders of a
majority of the principal amount outstanding of the Notes to settle, compromise, adjust or otherwise conclude any proceedings to which it is a party. 

The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay
or omission by the Trustee or any Noteholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any
other remedy. All available remedies are cumulative. Any reasonable costs associated with actions taken by the Trustee under this Section 6.03 shall be reimbursed to the Trustee by the Issuer and the Guarantors. 

SECTION 6.04. Rescission of Acceleration; Waiver of Existing Defaults and Events of Default. 

(a) Subject to Sections 2.10, 6.08 and 8.02, the Holders of a majority in principal amount of the Notes then outstanding shall have the right
to rescind an acceleration or waive past or continuing Defaults and Events of Default under this Indenture, except a continuing Default or Event of Default in the payment of the principal of, or interest or premium, if any, on any Note as
specified in clauses (1) and (2) of Section 6.01 (other than any payment Default or Event of Default that resulted from such acceleration) or in respect of a covenant or 

  
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a provision which cannot be modified or amended without the consent of all Holders as provided for in Section 8.02. The Issuer shall deliver to the Trustee an Officer’s Certificate
stating that the requisite percentage of Holders have consented to such waiver or rescission and attaching copies of such consents. 
 In
the event of any Default or Event of Default specified in Section 6.01(4), such Default or Event of Default will be annulled, waived, and rescinded, automatically and without any action by the Trustee or the Holders, if within 20 days after
such Default or Event of Default arose: 
 (1) the Indebtedness or Guarantee that is the basis for such Default or Event of
Default has been discharged; 
 (2) the holders thereof have rescinded or waived the acceleration, notice or action (as the
case may be) giving rise to such Default or Event of Default; or 
 (3) the default that is the basis for such Default or
Event of Default has been cured. 
 In case of any waiver of a Default or Event of Default, the Issuer, the Trustee and the Holders shall be
restored to their former positions and rights hereunder and under the Notes, respectively. This subsection (a) of this Section 6.04 shall be in lieu of TIA § 316(a)(1)(B), and TIA § 316(a)(1)(B) is hereby expressly excluded
from this Indenture and the Notes, as permitted by the TIA. 
 (b) 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 or rescission shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. 

SECTION 6.05. Control by Majority. 

Subject to Sections 2.10 and 7.01, the Holders of a majority in principal amount of the outstanding Notes have the right to direct the time,
method and place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on the Trustee by this Indenture. The Trustee, however, may refuse to follow any direction that conflicts
with law or this Indenture or that the Trustee determines may be unduly prejudicial to the rights of another Holder not taking part in such direction, and the Trustee shall have the right to decline to follow any such direction if the Trustee, being
advised by counsel, determines that the action so directed may not lawfully be taken or if the Trustee in good faith shall, by a Responsible Officer, determine that the proceedings so directed may involve it in personal liability; provided
that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. In the event the 

  
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Trustee takes any enforcement action or follows any such direction pursuant to this Indenture, the Trustee shall be entitled to indemnification reasonably satisfactory to it against any loss or
expense caused by taking such action or following such direction. This Section 6.05 shall be in lieu of TIA § 316(a)(1)(A), and TIA § 316(a)(1)(A) is hereby expressly excluded from this Indenture and the Notes, as permitted by the
TIA. 
 SECTION 6.06. Limitation on Suits. 

Subject to Section 6.08, a Holder may not enforce or pursue any remedy with respect to this Indenture or the Notes unless: 

(1) the Holder has given the Trustee written notice of a continuing Event of Default; 

(2) the Holders of at least 25% in principal amount of the Notes then outstanding make a written request to the Trustee to
pursue the remedy; 
 (3) such Holder or Holders offer the Trustee indemnity satisfactory to the Trustee against any costs,
liability or expense; 
 (4) the Trustee does not comply with the request within 60 days after receipt of the request and the
offer of indemnity; and 
 (5) during such 60-day period, the Holders of a majority in aggregate principal amount of the
outstanding Notes do not give the Trustee a direction that is inconsistent with the request. 
 A Noteholder may not use any provision of
this Indenture to disturb or prejudice the rights of another Noteholder or to obtain a preference or priority over another Noteholder. 
 SECTION 6.07.
No Personal Liability of Directors, Officers, Employees and Stockholders. 
 No director, officer, employee, incorporator or
stockholder of Quintiles or any Guarantor, as such, will have any liability for any obligations of Quintiles or the Guarantors under the Notes, this Indenture, the Note Guarantees, or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the
federal securities laws. 

  
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 SECTION 6.08. Rights of Holders To Receive Payment. 

Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to receive payment of the principal of or premium, if
any, or interest, if any, on such Note on or after the respective due dates expressed in such Note, or to bring suit for the enforcement of any such payment, on or after such respective due dates, is absolute and unconditional and shall not be
impaired or affected without the consent of the Holder. 
 SECTION 6.09. Collection Suit by Trustee. 

If an Event of Default specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own name
and as trustee of an express trust against the Issuer or any Guarantor (or any other obligor on the Notes) for the whole amount of unpaid principal and accrued interest remaining unpaid, together with interest on overdue principal and, to the extent
that payment of such interest is lawful, interest on overdue installments of interest, in each case at the rate set forth in the Notes, and such further amounts as shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 SECTION 6.10. Trustee May File Proofs of
Claim. 
 The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07) and the Noteholders allowed in
any judicial proceedings relative to the Issuer or any Guarantor (or any other obligor upon the Notes), its creditors or its property and shall be entitled and empowered to collect and receive any monies or other property payable or deliverable on
any such claims and to distribute the same after deduction of its charges and expenses to the extent that any such charges and expenses are not paid out of the estate in any such proceedings and any custodian in any such judicial proceeding is
hereby authorized by each Noteholder 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 Noteholders, to pay to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07. 

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

  
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 SECTION 6.11. Priorities. 

If the Trustee collects any money or property pursuant to this Article Six, it shall pay out the money and property in the following
order: 
 FIRST: to the Trustee for amounts due under Section 7.07; 

SECOND: to Noteholders for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably, without
preference or priority of any kind, according to the amounts due and payable; and 
 THIRD: to the Issuer or, to the extent
the Trustee collects any amount from any Guarantor, to such Guarantor, or as a court of competent jurisdiction may direct. 
 The Trustee
may fix a record date and payment date for any payment to Noteholders pursuant to this Section 6.11. 
 SECTION 6.12. Undertaking for Costs.

 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 or
omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable
attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.12 does not apply to a suit by the Trustee, a suit by
a Noteholder pursuant to Section 6.08 or a suit by Holders of more than 10% in aggregate principal amount of the outstanding Notes. 

ARTICLE SEVEN 
 TRUSTEE 

SECTION 7.01. Duties of Trustee. 
 (a) If
a Default or Event of Default actually known to a Responsible Officer of the Trustee has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture and use the same degree of care and skill in
their exercise as a prudent person would exercise or use under the same circumstances in the conduct of his or her own affairs. 
 The
Trustee shall not be deemed to have actual knowledge of any Default or Event of Default 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 Notes and this Indenture and states that such notice is a “Notice of Default.” 

  
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 (b) Except during the continuance of a Default or an Event of Default of which a Responsible
Officer of the Trustee has actual knowledge: 
 (1) The Trustee need perform only those duties expressly set forth in this
Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee. 
 (2) 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 certificates or opinions furnished to the Trustee and conforming to the requirements
of this Indenture but, in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they
conform on their face to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). Whenever in the administration of this Indenture the Trustee shall deem it
desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon
an Officer’s Certificate, subject to the requirement in the preceding sentence, if applicable. 
 (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: 

(1) This paragraph does not limit the effect of subsection (b) of this Section 7.01. 

(2) 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. 
 (3) The Trustee shall not be liable with respect to
any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to the terms of this Indenture. 

(4) 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 rights, powers or duties if the Trustee shall have reasonable grounds for believing that repayment of such funds or indemnity satisfactory to it against such risk or liability is not reasonably assured.

  
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 (d) Whether or not therein expressly so provided, subsections (a), (b), (c) and (e) of
this Section 7.01 shall govern every provision of this Indenture that in any way relates to the Trustee. 
 (e) 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 pursuant to this Indenture, unless such Holders shall have fully indemnified the Trustee to the satisfaction
of the Trustee, against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction (including, but not limited to, the fees and disbursements of agents and attorneys). 

(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 Issuer or any
Guarantor. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by the law. 
 SECTION 7.02. Rights
of Trustee. 
 Subject to Section 7.01: 

(1) The Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document (whether in its original, facsimile, .pdf attachment or other
electronically transmitted form) believed by it to be genuine and to have been signed or presented by the proper party or parties, whether such document is in original, facsimile, .pdf attachment or other electronically transmitted form; even if it
has a monetary limit. 
 (2) 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. 

(3) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel, or
both, which shall conform to the provisions of Section 11.05. The Trustee shall be protected and shall not be liable for any action it takes or omits to take in good faith in reliance on such certificate or opinion. 

(4) The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any
attorney or agent appointed by it with due care. 

  
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 (5) The Trustee shall not be liable for any action it takes or omits to take in
good faith which it reasonably believes to be authorized or within its rights or powers; provided that the Trustee’s conduct does not constitute negligence or willful misconduct. 

(6) The Trustee may consult with counsel of its selection, and the advice or opinion of such counsel as to matters of law shall
be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in reliance upon the advice or opinion of such counsel. 

(7) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right
to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder (including but not limited to as Registrar and as Paying Agent), and each agent, custodian and other person employed to act hereunder.

 (8) The right of the Trustee to perform any discretionary act enumerated in this Indenture shall not be construed as a
duty, and the Trustee shall not be answerable for other than its own negligence or willful misconduct in the performance of such act. 

(9) The Trustee may from time to time request that the Issuer deliver an Officer’s Certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any persons authorized to sign an Officer’s Certificate, including any person
specified as so authorized in any such certificate previously delivered and not superseded. 
 (10) The Trustee shall have no
duty to inquire as to the performance of the covenants of the Issuer. 
 (11) 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; 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. 

  
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 (12) The Trustee is entitled to assume without enquiry, that the Issuer has
performed in accordance with all of the provisions in this Indenture, unless notified to the contrary. 
 (13) Under no
circumstances will the Trustee be liable for any indirect, special, punitive consequential loss or damage (including loss of business, goodwill, opportunity or profit), even if advised of the likelihood or possibility of such loss or damage and
regardless of the form of action. 
 SECTION 7.03. Individual Rights of Trustee. 

The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may make loans to, accept deposits from,
perform services for or otherwise deal with either the Issuer or any Guarantor, or any Affiliates thereof, with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest (as
described in Section 310(b) of the TIA), it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as Trustee (if this Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like
rights. The Trustee shall also be subject to Sections 7.10 and 7.11. 
 SECTION 7.04. Trustee’s Disclaimer. 

The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture, the Notes or any Note
Guarantee, it shall not be accountable for the Issuer’s or any Guarantor’s use of the proceeds from the sale of Notes, it will not be responsible for the use or application of any money received by any Paying Agent (other than itself as
Paying Agent) or any money paid to the Issuer or any Guarantor pursuant to the terms of this Indenture and it shall not be responsible for any statement in the Notes, the Note Guarantees or this Indenture other than its certificate of
authentication. 
 SECTION 7.05. Notice of Defaults. 

If a Default or an Event of Default occurs and is continuing and if it is known to a Responsible Officer of the Trustee, the Trustee shall give
to each Noteholder a notice of the Default or Event of Default within 90 days after it occurs in the manner and to the extent provided in the TIA and otherwise as provided in this Indenture. Except in the case of a Default or an Event of Default
relating to the payment of the principal of or interest on any Note (including payments pursuant to a redemption or repurchase of the Notes pursuant to the provisions of this Indenture), the Trustee may withhold the notice if and so long as a
Responsible Officer in good faith determines that withholding the notice is in the interests of Holders. 

  
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 SECTION 7.06. Reports by Trustee to Holders. 

If required by TIA § 313(a), within 60 days after [May 1]1 of any year,
commencing on the [May 1] following the date of this Indenture, the Trustee shall mail to each Noteholder a brief report dated as of such date that complies with TIA § 313(a). The Trustee also shall comply with TIA
§ 313(b)(2). The Trustee shall also transmit by mail all reports as required by TIA § 313(c) and TIA § 313(d). 

Reports pursuant to this Section 7.06 shall be transmitted by mail: 

(1) to all Holders of Notes, as the names and addresses of such Holders appear on the Registrar’s books; and 

(2) to such Holders of Notes as have, within the two years preceding such transmission, filed their names and addresses with
the Trustee for that purpose. 
 SECTION 7.07. Compensation and Indemnity. 

The Issuer and the Guarantors shall pay to the Trustee from time to time reasonable compensation as agreed upon for its services hereunder
(which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust). The Issuer and the Guarantors shall reimburse the Trustee upon request for all reasonable out-of-pocket disbursements,
expenses and advances incurred or made by it in connection with the Trustee’s duties under this Indenture, including, but not limited to, the reasonable compensation, disbursements and expenses of the Trustee’s agents and external counsel.

 The Issuer and the Guarantors, jointly and severally, shall indemnify each of the Trustee and its agents, employees, directors and
officers and hold each of them harmless against, any and all loss, damage, claim, liability or expense, including without limitation taxes (other than taxes based on the income of the Trustee) and reasonable attorneys’ fees and expenses
incurred by each of them in connection with the acceptance or performance of its duties under this Indenture and including the reasonable costs and expenses of defending itself against any claim or liability in connection with the exercise or
performance of any of its powers or duties hereunder (including, without limitation, settlement costs and including claims by or against the Issuer or any Guarantor). The Trustee shall notify the Issuer and the Guarantors in writing promptly of any
claim of which a Responsible Officer of the Trustee has actual knowledge asserted against the Trustee for which it may seek indemnity; provided that the failure by the Trustee to so notify the Issuer and the Guarantors shall not relieve the

  
  

	1 	 Trustee to confirm. 

  
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Issuer and Guarantors of their obligations hereunder except to the extent the Issuer or any Guarantor is actually prejudiced thereby. If there is an actual or potential conflict of interest, the
Trustee may have separate counsel and the Issuer shall pay the reasonable fees and expenses of such counsel. 
 Notwithstanding the
foregoing, the Issuer and the Guarantors need not pay for any settlement made without the Issuer’s consent or reimburse the Trustee for any expense or indemnify or hold it harmless against any loss, damage, claim or liability incurred by the
Trustee through its own negligence, bad faith or willful misconduct. 
 To secure the payment obligations of the Issuer and the Guarantors
in this Section 7.07, the Trustee shall have a lien prior to the Notes on all money or property held or collected by the Trustee except for such money or property held in trust to pay principal of and interest on particular Notes. Such lien
shall survive the satisfaction and discharge of this Indenture. 
 The obligations of the Issuer and the Guarantors under this
Section 7.07 to compensate and indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall be joint and several liabilities of the Issuer and each of the Guarantors and shall survive the resignation
or removal of the Trustee and the satisfaction, discharge or other termination of this Indenture, including any termination or rejection hereof under any Bankruptcy Law. 

When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(6) occurs, the expenses and the
compensation for the services are intended to constitute expenses of administration under any applicable Bankruptcy Law. 
 For purposes of
this Section 7.07, the term “Trustee” shall include any trustee appointed pursuant to this Article Seven. The provisions of this Section 7.07 shall apply to Trustee in its capacity as Paying Agent, Transfer Agent or
Registrar and any other Agent under this Indenture. 
 The provisions of this Section 7.07 shall survive the satisfaction and discharge
of this Indenture. 
 SECTION 7.08. Replacement of Trustee. 

The Trustee may resign at any time by so notifying the Issuer and the Guarantors in writing. The Holders of a majority in principal amount of
the outstanding Notes may remove the Trustee by notifying the Issuer and the removed Trustee in writing and may appoint a successor Trustee with the Issuer’s written consent, which consent shall not be unreasonably withheld. The Issuer may
remove the Trustee if: 
 (1) the Trustee fails to comply with Section 7.10; 

  
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 (2) 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; 
 (3) a receiver or other public officer takes charge of the
Trustee or its property; or 
 (4) the Trustee otherwise becomes incapable of acting. 

Such resignation or removal shall become effective as provided below. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuer shall promptly appoint a
successor Trustee. 
 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the
retiring Trustee, the Issuer or the Holders of a majority in principal amount of the outstanding Notes may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee; provided that if
the retiring Trustee resigns and a court has not appointed a successor within 60 days, such retiring Trustee may appoint a successor that meets the eligibility requirements of Section 7.10. 

If the Trustee fails to comply with Section 7.10, Noteholders holding at least 10% in principal amount of the Notes may petition any
court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 A successor Trustee shall
deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Immediately following such delivery, the retiring Trustee shall, subject to its rights under Section 7.07, transfer all property held by it as Trustee to
the successor Trustee, 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 under this Indenture. A successor Trustee shall mail notice of
its succession to each Noteholder. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee. 

SECTION 7.09. Successor Trustee by Consolidation, Merger, etc. 

Any corporation into which the Trustee may be merged or converted, or any corporation with which the Trustee may be consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation, including affiliated corporations, to which the Trustee shall sell or otherwise transfer: (a) all or substantially all
of its assets or (b) all or substantially all of its corporate trust business shall, on the date when the merger, conversion, consolidation or transfer becomes effective 

  
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and to the extent permitted by any applicable laws and subject to the requirements set forth in Section 7.10 of this Indenture, become the successor Trustee under this Indenture without the
execution or filing of any paper or any further act on the part of the parties to this Indenture, and after the said effective date all references in this Indenture to the Trustee shall be deemed to be references to such successor corporation.
Written notice of any such merger, conversion, consolidation or transfer shall be given to the Issuer by the Trustee promptly thereafter and such selling, transferring or successor Trustee shall execute such acknowledgement or other documents as the
Issuer reasonably requests. 
 SECTION 7.10. Eligibility; Disqualification. 

This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1) and (2) in every respect. The
Trustee shall have a combined capital and surplus of at least $100,000,000 as set forth in the most recent applicable published annual report of condition. The Trustee shall comply with TIA § 310(b); provided, however, that
there shall be excluded from the operation of TIA § 310(b)(1) any indenture or indentures under which other securities or certificates of interest or participation in other securities of the Issuer are outstanding if the requirements for such
exclusion set forth in TIA § 310(b)(1) are met. 
 SECTION 7.11. Preferential Collection of Claims Against Issuer. 

The Trustee is subject to and shall comply with 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 therein. 
 SECTION 7.12. Paying Agents.

 The Issuer shall cause each Paying Agent other than the Trustee or other parties to this Indenture to execute and deliver to it and the
Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section 7.12: 

(A) that it will hold all sums held by it as agent for the payment of principal of, or premium, if any, or interest on, the
Notes (whether such sums have been paid to it by the Issuer or by any obligor on the Notes) in trust for the benefit of Holders of the Notes or the Trustee; 

(B) that it will at any time during the continuance of any Event of Default, upon written request from the Trustee, deliver to
the Trustee all sums so held in trust by it together with a full accounting thereof; and 
 (C) that it will give the Trustee
written notice within three Business Days of any failure of the Issuer (or by any obligor on the Notes) in the payment of any installment of the principal of, premium, if any, or interest on, the Notes when the same shall be due and payable. 

  
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 SECTION 7.13. Communications. 

In no event shall the Trustee or any other entity of U.S. Bank National Association be liable for any Losses arising to the Trustee or any
other entity of U.S. Bank National Association receiving or transmitting any data from any Issuer, any Authorized Person or any party to the transaction via any non-secure method of transmission or communication, such as, but without limitation, by
facsimile or email. 
 The parties hereto accept that some methods of communication are not secure and the Agent or any other entity of U.S.
Bank National Association shall incur no liability for receiving instructions via any such non-secure method. The Agent or any other entity of U.S. Bank National Association is authorized to comply with and rely upon any such notice, instructions or
other communications believed by it to have been sent or given by an Authorized Person or an appropriate party to the transaction (or authorized representative thereof). The Issuer or authorized officer of the Issuer shall use all reasonable
endeavors to ensure that instructions transmitted to the Agent or any other entity of U.S. Bank National Association pursuant to this Indenture are complete and correct. Any instructions shall be conclusively deemed to be valid instructions from the
Issuer or authorized officer of the Issuer to the Agent or any other entity of U.S. Bank National Association for the purposes of this Indenture. 

ARTICLE EIGHT 
 AMENDMENT,
SUPPLEMENT AND WAIVER 
 SECTION 8.01. Without Consent of Noteholders. 

Notwithstanding Section 8.02, the Issuer, the Guarantors, if applicable, and Trustee may modify and amend this Indenture, the Notes or the
Note Guarantees without the consent of any Holder for any of the following purposes: 
 (1) to cure any ambiguity, defect or
inconsistency; 
 (2) to provide for uncertificated Notes in addition to or in place of certificated Notes; 

(3) to provide for the assumption of Quintiles’ or a Guarantor’s obligations to Holders in the case of a merger or
consolidation or disposition of all or substantially all of Quintiles’ or a Guarantor’s assets; 

  
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 (4) to make any change that would provide any additional rights or benefits to
the Holders or that does not adversely affect the legal rights under this Indenture of any such Holder; 
 (5) to comply with
requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 
 (6) to allow any
Guarantor to execute a supplemental indenture and/or a Note Guarantee; 
 (7) to evidence and provide the acceptance of the
appointment of a successor Trustee under this Indenture; 
 (8) to mortgage, pledge, hypothecate or grant a security interest
in favor of the Trustee for the benefit of the Holders as additional security for the payment and performance of Quintiles’ or a Guarantor’s obligations; 

(9) to release a Guarantor from its Note Guarantee pursuant to the terms of this Indenture when permitted or required pursuant
to the terms of this Indenture; 
 (10) to conform the text of this Indenture, such Notes or the Note Guarantees to any
provision of the “Description of Notes” contained in the Offering Memorandum; 
 (11) to amend the provisions of
this Indenture relating to the transfer and legending of Notes; provided, however, that (a) compliance with this Indenture as so amended would not result in Notes being transferred in violation of the Securities Act or any
applicable securities law and (b) such amendment does not materially and adversely affect the rights of Holders to transfer Notes; or 

(12) to provide for the issuance of Additional Notes. 

SECTION 8.02. With Consent of Noteholders. 

(a) Except to the extent provided in Section 8.01 and subsection (b) of this Section 8.02, this Indenture, the Notes or the Note
Guarantees may be amended or supplemented with the consent of the Holders of at least a majority in principal amount of the Notes then outstanding Notes voting as a single class (including, without limitation, consents obtained in connection with a
purchase of, tender offer or exchange offer for Notes), and any existing Default or Event of Default or compliance with any provision of this Indenture, the Notes or the Note Guarantees may be waived with the consent of the Holders of at least a
majority in principal amount of the then outstanding Notes voting as a single class (including, without limitation, consents obtained in connection with a purchase of, tender offer or exchange offer for Notes). 

  
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 (b) Notwithstanding subsection (a) of this Section 8.02, without the consent of each
Holder of Notes affected, an amendment or waiver may not (with respect to any Note held by a non-consenting Holder): 
 (1)
reduce the principal amount of such Notes whose Holders must consent to an amendment, supplement or waiver; 
 (2) reduce the
principal of or change the fixed maturity of any Note or alter the provisions with respect to the redemption of such Notes (other than provisions set forth in Section 4.08 and other than notice provisions with respect to any optional redemption
by Quintiles); 
 (3) reduce the rate of or change the time for payment of interest on any Note; 

(4) waive a Default or Event of Default in the payment of principal of, or interest or premium on, Notes (except a rescission
of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of such Notes and a waiver of the payment Default or Event of Default in respect of such Notes that resulted from such acceleration); 

(5) make any Note payable in money other than that stated in such Notes; 

(6) make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders to
receive payments of principal of, or interest or premium on, Notes; 
 (7) after the date of an event giving rise to a
redemption, waive a redemption payment with respect to any Note (other than a payment required by Section 4.08); 
 (8)
release any Guarantor that is a Significant Subsidiary or group of Guarantors that, taken together (as of the latest audited consolidated financial statements for Holdings), would constitute a Significant Subsidiary, from any of its obligations
under its Note Guarantee or this Indenture, except in accordance with the terms of this Indenture; 
 (9) make any change to
the provisions of this Indenture relating to the ranking of such Notes that adversely affects the rights of the Holders thereof; or 

(10) make any change in the preceding amendment and waiver provisions. 

  
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 (c) It shall not be necessary for the consent of the Holders under this Section 8.02 to
approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 

(d) After an amendment, supplement or waiver under Section 8.01 or this Section 8.02 becomes effective, the Issuer shall mail to the
Holders affected thereby a notice briefly describing the amendment, supplement or waiver. The Issuer may elect in its sole discretion to have the Trustee mail such notice prepared by the Issuer on the Issuer’s behalf and at the Issuer’s
sole expense. Any failure of the Issuer to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment, supplement or waiver. 

SECTION 8.03. Compliance with Trust Indenture Act. 

Every amendment or supplement to this Indenture, the Notes or the Note Guarantees shall comply with the TIA as then in effect. 

SECTION 8.04. Revocation and Effect of Consents. 

(a) Until an amendment, supplement, waiver or other action becomes effective, a consent to it by a Holder of a Note is a continuing consent
conclusive and binding upon such Holder and every subsequent Holder of the same Note or portion thereof, and of any Note issued upon the transfer thereof or in exchange therefor or in place thereof, even if notation of the consent is not made on any
such Note. Notwithstanding the foregoing, any such Holder or subsequent Holder may revoke the consent as to its Note or portion thereof if the Trustee receives written notice of revocation before the date the waiver, supplement or amendment becomes
effective. 
 (b) The Issuer may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to
consent to any amendment, supplement or waiver. If a record date is fixed, then those Persons who were Noteholders at such record date (or their duly designated proxies), and only such Persons, shall be entitled to consent to such amendment,
supplement, or waiver or to revoke any consent previously given, whether or not such Persons continue to be Noteholders after such record date. No such consent shall be valid or effective for more than 120 days after such record date unless the
consent of the requisite number of Noteholders has been obtained. 
 (c) After an amendment, supplement, waiver or other action under
Section 8.01 or Section 8.02 becomes effective, it shall bind every Noteholder, unless it makes a change described in Section 8.02(b). In that case the amendment, supplement, waiver or other action shall bind each Noteholder who has
consented to it and every subsequent Noteholder or portion of a Note that evidences the same debt as the consenting Holder’s Note. 

  
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 SECTION 8.05. Notation on or Exchange of Notes. 

If an amendment, supplement, or waiver changes the terms of a Note, the Trustee (upon and in accordance with the specific written direction of
the Issuer) shall request the Holder of the Note (in accordance with the specific written direction of the Issuer) to deliver it to the Trustee. In such case, the Trustee shall place an appropriate notation on the Note about the changed terms and
return it to the Noteholder. Alternatively, if the Issuer or the Trustee so determines, the Issuer in exchange for the Note shall issue, the Guarantors shall endorse and, upon receipt of an Authentication Order in accordance with Section 2.01,
the Trustee shall authenticate a new Note that reflects the changed terms. Failure to make the appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver. 

SECTION 8.06. Trustee To Sign Amendments, etc. 

The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article Eight if the amendment, supplement or
waiver does not affect the rights, duties, liabilities or immunities of the Trustee. If it does affect the rights, duties, liabilities or immunities of the Trustee, the Trustee may, but need not, sign such amendment, supplement or waiver.
Notwithstanding anything herein to the contrary, in signing or refusing to sign an amendment, supplement or waiver the Trustee shall be entitled to receive and, subject to Section 7.01, shall be fully protected in relying upon an Officer’s
Certificate and an Opinion of Counsel stating, in addition to the matters required by Section 11.05, that such amendment, supplement or waiver is authorized or permitted by this Indenture and is a legal, valid and binding obligation of the
Issuer and the Guarantors, enforceable against the Issuer and the Guarantors in accordance with its terms (subject to customary exceptions). 

ARTICLE NINE 
 DISCHARGE OF
INDENTURE; DEFEASANCE 
 SECTION 9.01. Discharge of Indenture. 

This Indenture will be discharged and will cease to be of further effect as to all Notes and Note Guarantees, and the Trustee, at the request
and expense of the Issuer, will execute proper instruments acknowledging satisfaction and discharge of this Indenture, the Notes and the Note Guarantees, when: 

(1) either: 

(A) all Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes
for whose payment money has been deposited in trust and thereafter repaid to Quintiles, have been delivered to the Trustee for cancellation; or 

  
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 (B) all Notes that have not been delivered to the Trustee for cancellation have
become due and payable by reason of the mailing of a notice of redemption or otherwise or will become due and payable within one year and Quintiles or any Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds
in trust solely for the benefit of the Holders, cash in U.S. Dollars, U.S. Government Obligations, or a combination of cash in U.S. Dollars and U.S. Government Obligations, in such amounts as will be sufficient without consideration of any
reinvestment of interest, to pay and discharge the entire indebtedness on the Notes not delivered to the Trustee for cancellation for principal, premium and accrued interest to the date of maturity or redemption; 

(2) Quintiles or any Guarantor has paid or caused to be paid all sums payable by it under this Indenture; and 

(3) Quintiles has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward
the payment of Notes at maturity or the Redemption Date, as the case may be. 
 In addition, Quintiles must deliver an Officer’s
Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied or waived. 

The Trustee shall acknowledge satisfaction and discharge of this Indenture on demand of and at the expense of the Issuer. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Issuer in Section 7.07, 9.05 and 9.06 shall
survive such satisfaction and discharge. 
 SECTION 9.02. Legal Defeasance. 

The Issuer may, at its option and at any time, elect to have all of its obligations and the obligations of the Guarantors discharged with
respect to the outstanding Notes and Note Guarantees on a date the conditions set forth in Section 9.04 are satisfied (hereinafter, “Legal Defeasance”). For this purpose, such Legal Defeasance means that the Issuer will be
deemed to have paid and discharged the entire indebtedness represented by the outstanding Notes and Note Guarantees and to have satisfied all their other obligations under such Notes, Note Guarantees and this Indenture (and the Trustee, at the
request and expense of the Issuer, shall, subject to Section 9.06, execute instruments in form and substance reasonably satisfactory to the Trustee and the Issuer acknowledging the same), except for the following which

  
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shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of outstanding Notes to receive, solely from the trust funds described in Section 9.04 and as
more fully set forth in Section 9.04, payments in respect of the principal of, premium, if any, and interest on such Notes when such payments are due, (2) the Issuer’s obligations with respect to such Notes under Article Two and
Sections 4.02 and 4.05, (3) the rights, powers, trusts, duties, and immunities of the Trustee hereunder (including claims of, or payments to, the Trustee under or pursuant to Section 7.07) and the Issuer’s obligations in connection
therewith and (4) this Article Nine. 
 Subject to compliance with this Article Nine, the Issuer may exercise its option under
this Section 9.02 with respect to the Notes notwithstanding the prior exercise of its option under Section 9.03 below with respect to the Notes. 

SECTION 9.03. Covenant Defeasance. 
 The
Issuer may, at its option and at any time, elect to have all of its obligations and the obligations of the Guarantors under Sections 4.03 and 4.06 through 4.13 (except for obligations mandated by the TIA) and clause (3) of
Section 5.01(a) released with respect to the outstanding Notes and Note Guarantees on a date the conditions set forth in Section 9.04 are satisfied (hereinafter, “Covenant Defeasance”). For this purpose, Covenant
Defeasance means that, with respect to the outstanding Notes and Note Guarantees, the Issuer may fail to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or
indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document, and such omission to comply shall not constitute a Default or an
Event of Default under Section 6.01, but, except as specified above, the remainder of this Indenture, the Notes and the Note Guarantees shall be unaffected thereby. In addition, upon the Issuer’s exercise of the option in this
Section 9.03, subject to the satisfaction of the conditions set forth in Section 9.04, Sections 6.01(3), (4), (5), (6) (solely with respect to any Guarantor that is a Significant Subsidiary or any group of Guarantors that, taken
together, would constitute a Significant Subsidiary) and (7) shall not constitute Events of Default. 
 Notwithstanding any discharge
or release of any obligations under this Indenture pursuant to Section 9.02 or this Section 9.03, the Issuer’s obligations in Article Two and Sections 7.07, 9.05, 9.06, 9.07 and 9.08 shall survive until such time as the Notes have
been paid in full. Thereafter, the Issuer’s obligations in Sections 7.07, 9.05, 9.07 and 9.08 shall survive. 

  
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 SECTION 9.04. Conditions to Legal Defeasance or Covenant Defeasance. 

The following shall be the conditions to application of Section 9.02 or Section 9.03 to the outstanding Notes: 

(1) the Issuer must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. Dollars, U.S.
Government Obligations or a combination thereof in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants (such opinion shall be addressed and delivered to the Trustee, and upon which the
Trustee shall have no liability in relying), to pay the principal, premium, if any, and interest on the Notes outstanding under this Indenture on the stated maturity date or on the applicable Redemption Date, as the case may be, and the Issuer must
specify whether such Notes are being defeased to maturity or to a particular Redemption Date; 
 (2) in the case of Legal
Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel in the United States (upon which the Trustee shall have no liability in relying) confirming that (a) the Issuer has received from, or there has been published by,
the Internal Revenue Service a ruling or (b) since the Issue Date, 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
will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such
Legal Defeasance had not occurred; 
 (3) in the case of Covenant Defeasance, the Issuer shall have delivered to the Trustee
an Opinion of Counsel in the United States (upon which the Trustee shall have no liability in relying) confirming that the Holders of the Notes outstanding under this Indenture will not recognize income, gain or loss for federal income tax purposes
as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

(4) no Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or
Event of Default resulting from the borrowing of funds to be applied to such deposit and the grant of any Lien securing such borrowing); 

(5) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under any
material agreement or instrument (other than this Indenture and the agreements governing any other Indebtedness being defeased, discharged or replaced) to which the Issuer or any of its Subsidiaries is a party or by which the Issuer or any of its
Subsidiaries is bound; 
 (6) the Issuer must deliver to the Trustee an Officer’s Certificate (upon which the Trustee
shall have no liability in relying) stating that the deposit was not made by the Issuer with the intent of preferring the Holders over the other creditors of the Issuer with the intent of defeating, hindering, delaying or defrauding creditors of the
Issuer or others; and 

  
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 (7) the Issuer must deliver to the Trustee an Officer’s Certificate and an
Opinion of Counsel (upon which the Trustee shall have no liability in relying), each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 

Notwithstanding the foregoing, the Opinion of Counsel required by clause (2) above with respect to a Legal Defeasance need not be
delivered if all Notes not theretofore delivered to the Trustee for cancellation (x) have become due and payable or (y) will become due and payable on the maturity date 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 Issuer. 
 SECTION 9.05. Deposited Money and U.S. Government
Obligations To Be Held in Trust. 
 Subject to Section 9.08, all money and U.S. Government Obligations (including the proceeds
thereof) deposited with the Trustee pursuant to Sections 9.01 and 9.04 in respect of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either
directly or through any Paying Agents, to the Holders of such Notes, of all sums due and to become due thereon in respect of principal, premium, if any, and accrued interest, but such money need not be segregated from other funds except to the
extent required by law. 
 The Issuer and the Guarantors shall (on a joint and several basis) pay and indemnify the Trustee against any tax,
fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Sections 9.01 and 9.04 or the principal, premium, if any, and interest received in respect thereof other than any such tax, fee or other charge
which by law is for the account of the Holders of the outstanding Notes. 
 Anything in this Article Nine to the contrary
notwithstanding, the Trustee shall deliver or pay to the Issuer from time to time upon a request of the Issuer any money or U.S. Government Obligations held by it as provided in Sections 9.01 and 9.04 which, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent satisfaction and discharge, Legal
Defeasance or Covenant Defeasance. 

  
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 SECTION 9.06. Reinstatement. 

If the Trustee or any Paying Agent is unable to apply any money or U.S. Government Obligations in accordance with Section 9.01, 9.02 or
9.03 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 Issuer’s and each Guarantor’s obligations under this
Indenture, the Notes and the Note Guarantees shall be revived and reinstated as though no deposit had occurred pursuant to this Article Nine until such time as the Trustee or such Paying Agent is permitted to apply all such money or U.S.
Government Obligations in accordance with Section 9.01, 9.02 or 9.03; provided that if the Issuer or the Guarantors have made any payment of principal of, premium, if any, or accrued interest on any Notes because of the reinstatement of
their obligations, the Issuer or the Guarantors, as the case may be, shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or U.S. Government Obligations held by the Trustee or any Paying Agent. 

SECTION 9.07. Moneys Held by Paying Agent. 

In connection with the satisfaction and discharge or defeasance of this Indenture, all moneys and U.S. Government Obligations then held by any
Paying Agent under the provisions of this Indenture shall, upon written demand of the Issuer, be paid or delivered to the Trustee, or if sufficient moneys and U.S. Government Obligations have been deposited pursuant to Section 9.01 or 9.04, as
the case may be, to the Issuer (or, if such moneys and U.S. Government Obligations were deposited by the Guarantors, to such Guarantors) within five Business Days after a request of the Issuer, and thereupon such Paying Agent shall be released from
all further liability with respect to such moneys. 
 SECTION 9.08. Moneys Held by Trustee. 

Subject to applicable law, any moneys and U.S. Government Obligations deposited with the Trustee or any Paying Agent or then held by the Issuer
or the Guarantors in trust for the payment of the principal of, or premium, if any, or interest on any Note that are not applied but remain unclaimed by the Holder of such Note for two years after the date upon which the principal of, or premium, if
any, or interest on such Note shall have respectively become due and payable shall be repaid or returned to the Issuer (or, if appropriate, the Guarantors) upon a request of the Issuer, or if such moneys and U.S. Government Obligations are then held
by the Issuer or the Guarantors in trust, such moneys and U.S. Government Obligations shall be released from such trust; and the Holder of such Note entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to
the Issuer and the Guarantors for the payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust moneys and U.S. Government Obligations shall thereupon cease; provided that the Trustee or any such Paying
Agent, before being required to make any such repayment, may, at the expense of the Issuer and the Guarantors, either mail to each Noteholder 

  
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affected, at the address shown in the register of the Notes maintained by the Registrar pursuant to Section 2.06, or cause to be published once, in one newspaper published in the English
language, customarily published each Business Day and of general circulation in The City of New York, the State of New York, a notice that such moneys and U.S. Government Obligations remain unclaimed and that, after a date specified therein, which
shall not be less than 30 days from the date of such mailing or publication, any unclaimed balance of such moneys and U.S. Government Obligations then remaining will be repaid or returned to the Issuer. After payment or return to the Issuer or the
Guarantors or the release of any moneys and U.S. Government Obligations held in trust by the Issuer or any Guarantors, as the case may be, Holders entitled thereto must look only to the Issuer and the Guarantors for payment as general creditors
unless applicable abandoned property law designates another Person. 
 ARTICLE TEN 

GUARANTEE OF SECURITIES 
 SECTION 10.01.
Guarantee. 
 The Guarantors, by execution of this Indenture, jointly and severally, guarantee to each Holder (i) the due and
punctual payment of the principal of, premium, if any, and interest on each Note, when and as the same shall become due and payable, whether at maturity, by acceleration or otherwise, the due and punctual payment of interest on the overdue principal
of and interest on the Notes, to the extent lawful, and the due and punctual payment of all other obligations and due and punctual performance of all obligations of the Issuer to the Holders or the Trustee all in accordance with the terms of such
Note and this Indenture and (ii) in the case of any extension of time of payment or renewal of any Notes or any of such other obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the
extension or renewal, at stated maturity, by acceleration or otherwise. Each Guarantor, by execution of this Indenture, agrees that, subject only to the applicable provisions, if any, of Section 10.03 or 10.06, its obligations hereunder shall
be absolute and unconditional, irrespective of, and shall be unaffected by, any invalidity, irregularity or unenforceability of any such Note or this Indenture, any failure to enforce the provisions of any such Note or this Indenture, any waiver,
modification or indulgence granted to the Issuer with respect thereto by the Holder of such Note, or any other circumstances which may otherwise constitute a legal or equitable discharge of a surety or such Guarantor. 

Each Guarantor hereby waives diligence, presentment, demand for payment, filing of claims with a court in the event of merger or bankruptcy of
the Issuer, any right to require a proceeding first against the Issuer, protest or notice with respect to any such Note or the Indebtedness evidenced thereby and all demands whatsoever, and covenants that this Guarantee will not be discharged as to
any such Note except by payment in full of the principal thereof and interest thereon. Each Guarantor hereby agrees that, as between such Guarantor, on the one hand, and the Holders and the Trustee, on the other hand, (i) the maturity of the

  
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obligations guaranteed hereby may be accelerated as provided in Article Six for the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such obligations as provided in Article Six, such obligations (whether or not due and payable) shall forthwith become due
and payable by each Guarantor for the purpose of this Guarantee. 
 The Guarantors shall have the right to seek contribution from any
non-paying Guarantor so long as the exercise of such right does not impair the rights of any Holder under the Note Guarantees. 
 SECTION 10.02.
Execution and Delivery of Note Guarantee. 
 To evidence its Note Guarantee set forth in Section 10.01, each Guarantor hereby
agrees that this Indenture shall be executed by either manual, facsimile, .pdf attachment or other electronically transmitted signature of an Officer on behalf of such Guarantor. The validity and enforceability of any Note Guarantee shall not be
affected by the fact that it is not affixed to any particular Note. 
 Each of the Guarantors hereby agrees that its Note Guarantee set
forth in Section 10.01 shall be in full force and effect notwithstanding any failure to endorse on each Note a notation of such Note Guarantee. 

If an Officer of a Guarantor whose signature is on this Indenture or a Note Guarantee no longer holds that office at the time the Trustee
authenticates the Note on which such Note Guarantee is endorsed or at any time thereafter, such Guarantor’s Guarantee of such Note shall be valid nevertheless. 

The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of any Note Guarantee set
forth in this Indenture on behalf of the Guarantor. 
 SECTION 10.03. Release of Guarantors. 

(a) The Note Guarantee of a Guarantor will be automatically and unconditionally released, and any Person acquiring assets (including by way of
merger or consolidation) or Capital Stock of a Guarantor shall not be required to assume the obligations of any such Guarantor: 

(1) in connection with any sale, exchange, transfer, conveyance or other disposition of (whether by merger, consolidation or
the sale of) a majority of the Capital Stock of such Guarantor (or such lesser portion as is sufficient for such Guarantor to cease to be a Subsidiary of Quintiles) or the sale of all or substantially all the assets of such Guarantor, to or with and
into a Person which is not Quintiles or another Subsidiary of Quintiles; 

  
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 (2) if any Guarantor is dissolved or otherwise no longer obligated to provide a
Note Guarantee pursuant to this Indenture; 
 (3) if such Guarantor’s guarantee of any obligations under any Debt
Facility of Quintiles (including the Credit Agreement) with an aggregate principal or committed amount of $300 million or more is fully and unconditionally released, except that such Guarantor shall subsequently be required to become a Guarantor by
executing a supplemental indenture and providing the Trustee with an Officer’s Certificate and Opinion of Counsel at such time as it guarantees any obligations under any Debt Facility of Quintiles (including the Credit Agreement) with aggregate
principal or committed amount of $300 million or more; or 
 (4) upon Quintiles’ exercise of its legal defeasance option
or covenant defeasance option as described in Section 9.02 or Section 9.03 or if Quintiles’ obligations under this Indenture and the Notes are discharged in accordance with Section 9.01. 

(b) The Trustee shall execute any documents reasonably requested by either the Issuer or a Guarantor in order to evidence the release of such
Guarantor from its obligations under its Guarantee under this Article Ten, subject to the Trustee’s receipt of an Opinion of Counsel and Officer’s Certificates stating that all conditions precedent to such release have been met. 

SECTION 10.04. Waiver of Subrogation. 

Each Guarantor hereby irrevocably waives, until payment in full of the Issuer’s obligations hereunder, any claim or other rights which it
may now or hereafter acquire against the Issuer that arise from the existence, payment, performance or enforcement of such Guarantor’s obligations under its Note Guarantee and this Indenture, including, without limitation, any right of
subrogation, reimbursement, exoneration, indemnification, and any right to participate in any claim or remedy of any Holder of Notes against the Issuer, whether or not such claim, remedy or right arises in equity, or under contract, statute or
common law, including, without limitation, the right to take or receive from the Issuer, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or Note on account of such claim or other rights. If any amount
shall be paid to any Guarantor in violation of the preceding sentence and the Notes shall not have been paid in full, such amount shall have been deemed to have been paid to such Guarantor for the benefit of, and held in trust for the benefit of,
the Holders of the Notes, and shall forthwith be paid to the Trustee for the benefit of such Holders to be credited and applied upon the Notes, whether matured or unmatured, in accordance with the terms of this Indenture. Each Guarantor acknowledges
that it will receive direct and indirect benefits from the financing arrangements contemplated by this Indenture and that the waiver set forth in this Section 10.04 is knowingly made in contemplation of such benefits. 

  
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 SECTION 10.05. Notice to Trustee. 

Notwithstanding the provisions of this Article Ten or any other provision of this Indenture, the Trustee shall not be charged with knowledge of
the existence of any facts which would prohibit the making of any payment to or by the Trustee in respect of the Note Guarantees, unless and until the Trustee shall have received written notice thereof from the Issuer no later than one Business Day
prior to such payment; and, prior to the receipt of any such written notice, the Trustee, subject to the provisions of this Section 10.05, and subject to the provisions of Sections 7.01 and 7.02, shall be entitled in all respects to assume
that no such facts exist; provided, however, that if the Trustee shall not have received the notice referred to in this Section 10.05 at least one Business Day prior to the date upon which by the terms hereof any such payment may
become payable for any purpose under this Indenture (including, without limitation, the payment of the principal of, premium, if any, or interest on any Note), then, anything herein contained to the contrary notwithstanding, the Trustee shall have
full power and authority to receive such money and to apply the same to the purpose for which such money was received and shall not be affected by any notice to the contrary which may be received by it less than one Business Day prior to such date.

 SECTION 10.06. Limitation on Guarantor’s Liability. 

Each Guarantor, and by its acceptance hereof, each Holder and the Trustee, hereby confirm that it is the intention of all such parties that the
Note Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Title 11 of the United States Code, as amended, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar U.S.
Federal or state or other applicable law. To effectuate the foregoing intention, each Holder and each Guarantor hereby irrevocably agree that the obligations of a Guarantor under its Note Guarantee shall be limited to the maximum amount as will,
after giving effect to all other contingent and fixed liabilities of such Guarantor result in the obligations of such Guarantor not constituting such a fraudulent transfer or conveyance. 

ARTICLE ELEVEN 
 MISCELLANEOUS

 SECTION 11.01. Trust Indenture Act Controls. 

If any provision of this Indenture limits, qualifies or conflicts with another provision which is required to be included in this Indenture by
the TIA, the required provision shall control. If any provision of this Indenture modifies any TIA provision that may be so 

  
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modified, such TIA provision shall be deemed to apply to this Indenture as so modified. If any provision of this Indenture excludes any TIA provision that may be so excluded, such TIA provision
shall be excluded from this Indenture. 
 The provisions of TIA §§ 310 through 317 that impose duties on any Person
(including the provisions automatically deemed included unless expressly excluded by this Indenture) are a part of and govern this Indenture, whether or not physically contained herein. 

SECTION 11.02. Notices. 
 Except for
notice or communications to Holders, any notice or communication shall be given in writing and delivered in person or mailed by first class mail (registered or certified, return receipt requested), telecopier, electronic transmission or overnight
air courier guaranteeing next day delivery, addressed as follows: 
 If to the Issuer or any Guarantor: 

Quintiles Transnational Corp. 

4820 Emperor Boulevard 
 Durham,
North Carolina 27703 
 Attn: James H. Erlinger III 

         Executive Vice President and General Counsel 

Telephone:    (919) 998-1573 

Facsimile:     (919) 998-1361 

Email: james.erlinger@quintiles.com 

With a copy to: 
 Smith,
Anderson, Blount, Dorsett, Mitchell & Jernigan, L.L.P. 
 Wells Fargo Capitol Center 

150 Fayetteville Street, Suite 2300 

Raleigh, North Carolina 27601 

Attn: Gerald F. Roach 

Telephone: (919) 821-6668 

Facsimile:  (919) 821-6800 

Email: groach@smithlaw.com 
 If
to the Trustee: 
 U.S. Bank National Association 

214 North Tryon Street, 27th Floor 

Charlotte, North Carolina 28202 

Attention: Quintiles Transnational Corp. Administrator 

Telephone: (704) 335-4597 

Email: lisa.moorehead@usbank.com 

  
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 The Issuer, any Guarantor or the Trustee by written notice to the others may designate additional
or different addresses for subsequent notices or communications. 
 All notices and communications (other than those sent to Holders) shall
be deemed to have been duly given at the time delivered by hand, if personally delivered; five (5) calendar days after mailing if sent by registered or certified mail, postage prepaid (except that a notice of change of address shall not be
deemed to have been given until actually received by the addressee); when receipt acknowledged, if telecopied or electronically transmitted; and the next Business Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery. 
 Any notice or communication to a Holder shall be mailed by first class mail, certified or registered,
return receipt requested, or by overnight air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Any notice or communication shall also be so mailed to any Person described in TIA § 313(c),
to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 

If a notice or communication to a Holder is mailed in the manner provided above, it shall be deemed duly given, whether or not the addressee
receives it. 
 In case by reason of the suspension of regular mail service, or by reason of any other cause, it shall be impossible to mail
any notice as required by this Indenture, then such method of notification as shall be made with the approval of the Trustee shall constitute a sufficient mailing of such notice. 

Notwithstanding any other provision of this Indenture to the contrary, where this Indenture provides for notice of any event (including any
notice of redemption) to the Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depository for such Note (or its designee) pursuant to the customary procedures of such Depository. 

SECTION 11.03. Communications by Holders with Other Holders. 

Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the Notes.
The Issuer, the Guarantors, the Trustee, the Registrar, each Agent and anyone else shall have the protection of TIA § 312(c). 

  
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 SECTION 11.04. Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Issuer or any Guarantor to the Trustee to take any action under this Indenture, the Issuer or such
Guarantor shall furnish to the Trustee: 
 (1) an Officer’s Certificate (which shall include the statements set forth in
Section 11.05) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been complied with; provided that an Officer’s
Certificate shall not be required in connection with the issuance of Notes on the Issue Date; and 
 (2) an Opinion of
Counsel (which shall include the statements set forth in Section 11.05) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been complied with; provided that an Opinion of Counsel shall not be
required in connection with the issuance of Notes on the Issue Date. 
 SECTION 11.05. Statements Required in Certificate and Opinion. 

Each Officer’s Certificate and Opinion of Counsel with respect to compliance by or on behalf of the Issuer or any Guarantor with a
condition or covenant provided for in this Indenture (other than certificates delivered pursuant to Section 4.06(a) or (b) or the definition of “EBITDA” or “Securitization Subsidiary”) shall include: 

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

(2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of such Person, he or she has
made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

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

SECTION 11.06. Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or meetings of Noteholders. The Registrar and Paying Agent may make reasonable rules for
their functions. 

  
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 SECTION 11.07. Business Days; Legal Holidays. 

A “Business Day” is a day that is not a Legal Holiday. A “Legal Holiday” is a Saturday, a Sunday or other day
on which commercial banks in The City of New York, the State of New York or the place of payment are authorized or required by law to close. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next
succeeding Business Day, and no interest shall accrue for the intervening period. 
 SECTION 11.08. Governing Law. 

This Indenture, the Notes and the Note Guarantees shall be governed by and construed in accordance with the laws of the State of New York, but
without giving effect to applicable principles of conflicts of law to the extent that the application of the law of another jurisdiction would be required thereby. 

SECTION 11.09. No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret another indenture, loan, security or debt agreement of the Issuer or any Subsidiary thereof. No
such indenture, loan, security or debt agreement may be used to interpret this Indenture. 
 SECTION 11.10. Successors. 

All agreements of the Issuer and the Guarantors in this Indenture and the Notes shall bind their respective successors. All agreements of the
Trustee, any additional trustee and any Agents in this Indenture shall bind their respective successors. 
 SECTION 11.11. Multiple Counterparts.

 The parties may sign multiple counterparts of this Indenture. Each signed counterpart shall be deemed an original, but all of them
together represent one and the same agreement. 
 SECTION 11.12. Table of Contents, Headings, etc. 

The table of contents, cross-reference sheet 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 11.13.
Separability. 
 Each provision of this Indenture shall be considered separable and if for any reason any provision which is not
essential to the effectuation of the basic purpose of this Indenture or the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

  
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 SECTION 11.14. Waiver of Jury Trial. 

THE ISSUER, EACH OF THE GUARANTORS AND THE TRUSTEE IRREVOCABLY WAIVES, 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. 

[Signature Pages Follow] 

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

			
	QUINTILES TRANSNATIONAL CORP.
		
	By:		 /s/ Greg Connors

	Name:		Greg Connors
	Title:		Senior Vice President
	
	GUARANTORS:
	
	BENEFIT HOLDING, INC.
	ENCORE HEALTH RESOURCES, LLC
	 EXPRESSION ANALYSIS, INC.
 INNOVEX
MERGER CORP.

	QUINTILES BT, INC.
	QUINTILES FEDERATED SERVICES, INC.
	QUINTILES PHARMA SERVICES CORP.
		
	By:		 /s/ James H. Erlinger III

	Name:		James H. Erlinger III
	Title:		President
	
	IGUARD, INC.
	QUINTILES COMMERCIAL US, INC.
	QUINTILES CONSULTING, INC.
	QUINTILES, INC.
	QUINTILES PHARMA, INC.
		
	By:		 /s/ James H. Erlinger III

	Name:		James H. Erlinger III
	Title:		Vice President

 
			
	NOVELLA CLINICAL LLC
	OUTCOME SCIENCES, LLC
	QUINTILES BIOSCIENCES HOLDINGS, INC.
	QUINTILES BIOSCIENCES, INC.
	QUINTILES MEDICAL COMMUNICATIONS &
      CONSULTING, INC.
	QUINTILES MEDICAL EDUCATION, INC.
		
	By:		 /s/ James H. Erlinger III

	Name:		James H. Erlinger III
	Title:		Secretary
	
	QUINTILES LABORATORIES, LLC
	QUINTILES LATIN AMERICA, LLC
	QUINTILES PHASE ONE SERVICES, LLC
		
	By:		 /s/ James H. Erlinger III

	Name:		James H. Erlinger III
	Title:		Vice President, Quintiles, Inc., the sole Member
	
	EA INSTITUTE, L.L.C.
		
	By:		 /s/ James H. Erlinger III

	Name:		James H. Erlinger III
	Title:		Manager

 
			
	QUINTILES MARKET INTELLIGENCE, LLC
		
	By:		 /s/ James H. Erlinger III

	Name:		James H. Erlinger III
	Title:		Vice President, Quintiles Consulting, Inc., the sole Member
	
	QUINTILES TRANSFER, L.L.C.
		
	By:		 /s/ James H. Erlinger III

	Name:		James H. Erlinger III
	Title:		President, Quintiles Pharma Services Corp., the sole Member
	
	TARGETED MOLECULAR DIAGNOSTICS, LLC
		
	By:		 /s/ James H. Erlinger III

	Name:		James H. Erlinger III
	Title:		Vice President, Quintiles, Inc., the sole Member of Quintiles Laboratories, LLC, the sole Member
	
	QUINTILES ASIA, INC.
	VCG&A, INC.
	VCG-BIO, INC.
		
	By:		 /s/ R. David Andrews

	Name:		R. David Andrews
	Title:		Vice President

 
			
	U.S. Bank National Association, as Trustee
		
	By:		 /s/ Lisa L. Moorhead

	Name:		Lisa L. Moorhead
	Title:		Assistant Vice President

 EXHIBIT A-1 

[FORM OF RESTRICTED NOTE] 

QUINTILES TRANSNATIONAL CORP. 

4.875% SENIOR NOTE DUE 2023 

[Insert Global Note Legend, if applicable] 

[Insert Private Placement Legend] 

 

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

 QUINTILES TRANSNATIONAL CORP., a North Carolina corporation, as issuer (the “Issuer”), for
value received, promises to pay to CEDE & CO., or registered assigns the principal sum of [        ] Dollars ($[        ]) (or such other principal amount as
shall be set forth in the Schedule of Exchanges of Interests in Global Note attached hereto), on May 15, 2023. 
 Interest Payment Dates: May 15
and November 15 commencing November 15, 2015. 
 Record Dates: May 1 and November 1 (whether or not a Business Day). 

Reference is made to the further provisions of this Note contained herein, which will for all purposes have the same effect as if set forth at
this place. 

  
 A-1-1 

 IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by its
duly authorized officer. 
  

			
	QUINTILES TRANSNATIONAL CORP.
		
	By:		  

	Name:		
	Title:		

  
 A-1-2 

 Certificate of Authentication 

This is one of the 4.875% Senior Notes due 2023 referred to in the within-mentioned Indenture. 

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:		  

			Authorized Signatory

 Dated: 

  
 A-1-3 

 [FORM OF REVERSE OF RESTRICTED NOTE] 

QUINTILES TRANSNATIONAL CORP. 

4.875% SENIOR NOTE DUE 2023 
 1.
Interest. QUINTILES TRANSNATIONAL CORP., a North Carolina corporation, as issuer (the “Issuer” or “Quintiles), promises to pay interest on the principal amount set forth on the face hereof at a rate of
4.875% per annum. Interest hereon will accrue from and including the most recent date to which interest has most recently been paid or, if no interest has been paid, from and including May 12, 2015. Interest shall be payable in arrears on
each May 15 and November 15, commencing November 15, 2015. If any payment date is not a Business Day at a place of payment, payment may be made at that place on the next succeeding Business Day, and no interest shall accrue for the
intervening period. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Issuer shall pay interest on overdue principal and on overdue interest (to the full extent permitted by law) at the rate stated above. 

2. Method of Payment. The Issuer will pay interest hereon (except defaulted interest) to the Persons who are registered Holders at the
close of business on the May 1 or November 1 immediately preceding the interest payment date (whether or not a Business Day). Holders must surrender Notes to a Paying Agent to collect principal payments. The Issuer will pay principal and
interest in U.S. Dollars. Interest may be paid by check mailed to the Holder entitled thereto at the address indicated on the register maintained by the Registrar for the Notes. 

3. Paying Agent and Registrar. Initially, U.S. Bank National Association (the “Trustee”) will act as a Paying Agent
and Registrar. The Issuer may change any Paying Agent or Registrar without notice. The Issuer or any Affiliate thereof may act as Paying Agent or Registrar. 

4. Indenture. The Issuer issued the Notes under an Indenture dated as of May 12, 2015 (the “Indenture”) among the
Issuer, the Guarantors and the Trustee. This is one of an issue of Notes of the Issuer issued, or to be issued, under the Indenture. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to
the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb), as amended from time to time. The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of them. Capitalized and
certain other terms used herein and not otherwise defined have the meanings set forth in the Indenture. To the extent any provision of the Indenture conflicts with any provision of this Note, the provision of the Indenture shall govern. 

5. Optional Redemption. 

(a) At any time prior to May 15, 2018, Quintiles may on any one or more occasions redeem up to 40% of the aggregate principal amount of
the Notes (including any 

  
 A-1-4 

 
Additional Notes) at a redemption price of 104.875% of the principal amount, plus accrued and unpaid interest, if any, to (but not including) the Redemption Date, with the net cash proceeds of
one or more Equity Offerings; provided that: 
 (1) at least 50% of the aggregate principal amount of such Notes
remains outstanding immediately after the occurrence of such redemption (excluding Notes held by Quintiles and its Subsidiaries); and 

(2) the redemption occurs within 180 days of the date of the closing of such Equity Offering. 

(b) At any time prior to May 15, 2018, Quintiles may redeem all or any part of the Notes at a redemption price equal to 100% of the
principal amount thereof, plus the Applicable Redemption Premium and accrued and unpaid interest to (but not including) the Redemption Date. The Issuer shall notify the Trustee of the Applicable Redemption Premium by delivering to the Trustee, on or
before the applicable Redemption Date, an Officer’s Certificate showing the calculation thereof in reasonable detail, and the Trustee shall have no responsibility for such calculation. 

(c) Except pursuant to the preceding two paragraphs, the Notes will not be redeemable at Quintiles’ option prior to May 15, 2018. On
or after May 15, 2018, Quintiles may redeem all or any part of the Notes at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest, if any, on the Notes redeemed, to (but not
including) the applicable Redemption Date, if redeemed during the twelve-month period beginning on May 15 of the years indicated below: 
  

					
	 Period
	  	Redemption
Price	 
	 2018
	  	 	103.656	% 
	 2019
	  	 	102.438	% 
	 2020
	  	 	101.219	% 
	 2021 and thereafter
	  	 	100.000	% 

 6. Mandatory Redemption. Except as set forth in Section 8 below and Section 4.08 of the
Indenture, Quintiles is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 
 7. Notice of
Redemption. Notices of redemption shall be mailed by first class mail at least 30 but not more than 60 days before the Redemption Date to each Holder of Notes to be redeemed at its registered address. If any Note is to be redeemed in part only,
the notice of redemption that relates to such Note shall state the portion of the principal amount thereof to be redeemed. Any notice of any redemption may, at Quintiles’ discretion, be subject to one or more conditions precedent, including,
but not limited to, completion of a public or private offering for cash by Quintiles of its common stock or other corporate transaction. 

8. Offer To Purchase. The Indenture provides that upon the occurrence of a Change of Control Triggering Event and subject to further
limitations contained therein, the Issuer shall make an offer to purchase outstanding Notes in accordance with the procedures set forth in the Indenture. 

  
 A-1-5 

 9. Denominations, Transfer, Exchange. The Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may transfer or exchange Notes only in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements
and transfer documents and to pay to it any taxes and fees required by law or permitted by the Indenture. Neither the Registrar nor the Issuer shall be required to register the transfer of or exchange any Note or portion of a Note selected for
redemption (except the unredeemed portion of any Note redeemed in part), or register the transfer of or exchange any Note during the period beginning at the opening of business 15 days immediately preceding a mailing of notice of redemption and
ending at the close of business on the day of such mailing. 
 10. Persons Deemed Owners. The registered Holder of this Note may be
treated as the owner of this Note for all purposes. 
 11. Unclaimed Money. If money for the payment of principal or interest remains
unclaimed for two years, the Trustee will pay the money back to the Issuer at its written request. After that, Holders entitled to the money must look to the Issuer and the Guarantors for payment as general creditors unless an “abandoned
property” law designates another Person. 
 12. Amendment, Supplement, Waiver, Etc. The Issuer, the Guarantors, if applicable,
and the Trustee may, without the consent of the Holders of any outstanding Notes, amend, waive or supplement the Indenture or the Notes for certain specified purposes, including, among other things, curing ambiguities, defects or inconsistencies,
maintaining the qualification of the Indenture under the TIA, providing for the assumption by a successor to the Issuer of its obligations to the Holders and making any change that does not adversely affect the Indenture rights of any Holder in any
material respect. Other amendments and modifications of the Indenture or the Notes may be made by the Issuer and the Trustee with the consent of the Holders of at least a majority of the aggregate principal amount of the outstanding Notes, subject
to certain exceptions requiring the consent of the Holders of the particular Notes affected. 
 13. Restrictive Covenants. The
Indenture imposes certain limitations on the ability of the Issuer and the Guarantors, as applicable, to, among other things, create Liens, enter into Sale and Lease-Back Transactions or consolidate, merge or sell all or substantially all of the
assets of the Issuer or any Guarantor, and requires the Issuer to provide reports to Holders of the Notes. Such limitations are subject to a number of important qualifications and exceptions. Pursuant to Section 4.06 of the Indenture, the
Issuer must annually report to the Trustee on compliance with such limitations. 
 14. Successor Corporation. When a successor
corporation assumes all the obligations of its predecessor under the Notes and the Indenture and the transaction complies with the terms of Article Five of the Indenture, the predecessor corporation will, except as provided in Article Five, be
released from those obligations. 

  
 A-1-6 

 15. Defaults and Remedies. Events of Default are set forth in the Indenture. Upon the
occurrence of an Event of Default, the rights and obligations of the Issuer, the Guarantors, the Trustee and the Holders will be as set forth in the applicable provisions of the Indenture. 

Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity satisfactory to it
before it enforces the Indenture or the Notes. Subject to certain limitations, Holders of a majority in principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from
Holders notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal of or interest on the Notes, including payments pursuant to a redemption or repurchase of the Notes under the
Indenture) if a Responsible Officer in good faith determines that withholding notice is in their interests. 
 16. Trustee Dealings with
the Issuer. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from and perform services for the Issuer or its Affiliates, and may otherwise deal with the Issuer or its Affiliates, as if it were not Trustee.

 17. No Recourse Against Others. No director, officer, employee, incorporator or stockholder of Quintiles or any Guarantor, as
such, will have any liability for any obligations of Quintiles or the Guarantors under the Notes, this Indenture, the Note Guarantees, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by
accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws. 

18. Discharge. The Issuer’s obligations pursuant to the Indenture will be discharged, except for obligations pursuant to certain
sections thereof, subject to the terms of the Indenture, upon the payment of all the Notes or upon the irrevocable deposit with the Trustee of cash in U.S. Dollars, U.S. Government Obligations or a combination thereof, in such amounts as will be
sufficient to pay when due principal of and interest on the Notes to maturity or redemption, as the case may be. 
 19. Guarantees.
From and after the Issue Date, the Notes will be entitled to the benefits of Note Guarantees made for the benefit of the Holders. Reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and
obligations thereunder of the Guarantors, the Trustee and the Holders. 
 20. Authentication. This Note shall not be valid until the
Trustee or an authenticating agent signs the certificate of authentication on the other side of this Note. 
 21. Governing Law. THIS
NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, 

  
 A-1-7 

 
BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

22. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common),
TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

23. CUSIP Numbers. The Issuer has caused CUSIP numbers to be printed on the Notes and has directed the Trustee to use CUSIP numbers in
notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption. 

The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 

Quintiles Transnational Corp. 

4820 Emperor Boulevard 
 Durham,
North Carolina 27703 
 Attn: General Counsel 

  
 A-1-8 

 ASSIGNMENT 

I or we assign and transfer this Note to: 
  

			
	  

	(Insert assignee’s social security or tax I.D. number)
	
	  

	 (Print or type name, address and zip code of assignee)

 

	and irrevocably appoint		  

 Agent to transfer this Note on the books of the Issuer. The Agent may substitute another to act for him. 

 

									
	Date:		  
				Your Signature:		  

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

  

			
	Signature Guarantee:		  

 SIGNATURE GUARANTEE 

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

  
 A-1-9 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have all or any part of this Note purchased by the Issuer pursuant to Section 4.08 of the Indenture, check the
box: 
  ̈ Section 4.08 

If you want to have only part of the Note purchased by the Issuer pursuant to Section 4.08 of the Indenture, state the amount you elect
to have purchased: 
  

					
	
$_____________________________________________________                
    
		
	 ($1,000 or any integral multiple

thereof; provided that the part not

purchased must be at least $2,000)
		

  

							
				
	 Date:
		  
				
			
			Your Signature:		  

							(Sign exactly as your name appears on the face of this Note)
			
	  
				
	Signature Guaranteed				

 SIGNATURE GUARANTEE 

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

  
 A-1-10 

 SCHEDULE OF EXCHANGES OF
INTERESTS IN GLOBAL NOTE* 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Physical Note, or exchanges of a part of
another Global Note or Physical Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease in
Principal Amount
of
this Global Note	  	Amount of increase in
Principal Amount
of
this Global Note	  	Principal Amount
of this Global Note
following such
decrease
(or increase)	  	Signature of authorized
signatory of Trustee
		  		  		  		  	

  

	* 	Insert in Global Securities only. 

  
 A-1-11 

 EXHIBIT A-2 

[FORM OF UNRESTRICTED NOTE] 

QUINTILES TRANSNATIONAL CORP. 

4.875% SENIOR NOTE DUE 2023 

[Insert Global Note Legend, if applicable] 

 

					
	No. [    ]				 CUSIP No. [            ]

ISIN No. [            ]

$[            ]

 QUINTILES TRANSNATIONAL CORP., a North Carolina corporation, as issuer (the “Issuer”), for
value received, promises to pay to CEDE & CO., or registered assigns the principal sum of [            ] Dollars ($[        ]) (or such
other principal amount as shall be set forth in the Schedule of Exchanges of Interests in Global Note attached hereto), on May 15, 2023. 
 Interest
Payment Dates: May 15 and November 15 commencing November 15, 2015. 
 Record Dates: May 1 and November 1 (whether or not a Business Day).

 Reference is made to the further provisions of this Note contained herein, which will for all purposes have the same effect as if set
forth at this place. 

  
 A-2-1 

 IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by its
duly authorized officer. 
  

			
	QUINTILES TRANSNATIONAL CORP.
		
	By:		  

	Name:		
	Title:		

  
 A-2-2 

 Certificate of Authentication 

This is one of the 4.875% Senior Notes due 2023 referred to in the within-mentioned Indenture. 

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:		  

			Authorized Signatory

 Dated: 

  
 A-2-3 

 [FORM OF REVERSE OF UNRESTRICTED NOTE] 

QUINTILES TRANSNATIONAL CORP. 

4.875% SENIOR NOTE DUE 2023 
 1.
Interest. QUINTILES TRANSNATIONAL CORP., a North Carolina corporation, as issuer (the “Issuer” or “Quintiles”), promises to pay interest on the principal amount set forth on the face hereof at a rate of
4.875% per annum. Interest hereon will accrue from and including the most recent date to which interest has been paid or, if no interest has most recently been paid, from and including May 12, 2015. If any payment date is not a Business
Day at a place of payment, payment may be made at that place on the next succeeding Business Day, and no interest shall accrue for the intervening period. Interest shall be payable in arrears on each May 15 and November 15 commencing
November 1, 2015. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Issuer shall pay interest on overdue principal and on overdue interest (to the full extent permitted by law) at the rate stated above. 

2. Method of Payment. The Issuer will pay interest hereon (except defaulted interest) to the Persons who are registered Holders at the
close of business on the May 1 or November 1 immediately preceding the interest payment date (whether or not a Business Day). Holders must surrender Notes to a Paying Agent to collect principal payments. The Issuer will pay principal and
interest in U.S. Dollars. Interest may be paid by check mailed to the Holder entitled thereto at the address indicated on the register maintained by the Registrar for the Notes. 

3. Paying Agent and Registrar. Initially, U.S. Bank National Association (the “Trustee”) will act as a Paying Agent
and Registrar. The Issuer may change any Paying Agent or Registrar without notice. The Issuer or any Affiliate thereof may act as Paying Agent or Registrar. 

4. Indenture. The Issuer issued the Notes under an Indenture dated as of May 12, 2015 (the “Indenture”) among the
Issuer, the Guarantors and the Trustee. This is one of an issue of Notes of the Issuer issued, or to be issued, under the Indenture. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to
the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb), as amended from time to time. The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of them. Capitalized and
certain other terms used herein and not otherwise defined have the meanings set forth in the Indenture. To the extent any provision of the Indenture conflicts with any provision of this Note, the provision of the Indenture shall govern. 

5. Optional Redemption. 

(a) At any time prior to May 15, 2018, Quintiles may on any one or more occasions redeem up to 40% of the aggregate principal amount of
the Notes (including any Additional Notes) at a redemption price of 104.875% of the principal amount, plus accrued 

  
 A-2-4 

 
and unpaid interest, if any, to (but not including) the Redemption Date, with the net cash proceeds of one or more Equity Offerings; provided that: 

(1) at least 50% of the aggregate principal amount of such Notes remains outstanding immediately after the occurrence of such
redemption (excluding Notes held by Quintiles and its Subsidiaries); and 
 (2) the redemption occurs within 180 days of the
date of the closing of such Equity Offering. 
 (b) At any time prior to May 15, 2018, Quintiles may redeem all or any part of the
Notes at a redemption price equal to 100% of the principal amount thereof, plus the Applicable Redemption Premium and accrued and unpaid interest to (but not including) the Redemption Date. The Issuer shall notify the Trustee of the Applicable
Redemption Premium by delivering to the Trustee, on or before the applicable Redemption Date, an Officer’s Certificate showing the calculation thereof in reasonable detail, and the Trustee shall have no responsibility for such calculation. 

(c) Except pursuant to the preceding two paragraphs, the Notes will not be redeemable at Quintiles’ option prior to May 15, 2018. On
or after May 15, 2018, Quintiles may redeem all or any part of the Notes at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest, if any, on the Notes redeemed, to (but not
including) the applicable Redemption Date, if redeemed during the twelve-month period beginning on May 15 of the years indicated below: 
  

					
	 Period
	  	Redemption Price	 
	 2018
	  	 	103.656	% 
	 2019
	  	 	102.438	% 
	 2020
	  	 	101.219	% 
	 2021 and thereafter
	  	 	100.000	% 

 6. Mandatory Redemption. Except as set forth in Section 8 below and Section 4.08 of the
Indenture, Quintiles is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 
 7. Notice of
Redemption. Notices of redemption shall be mailed by first class mail at least 30 but not more than 60 days before the Redemption Date to each Holder of Notes to be redeemed at its registered address. If any Note is to be redeemed in part only,
the notice of redemption that relates to such Note shall state the portion of the principal amount thereof to be redeemed. Any notice of any redemption may, at Quintiles’ discretion, be subject to one or more conditions precedent, including,
but not limited to, completion of a public or private offering for cash by Quintiles of its common stock or other corporate transaction. 

8. Offer To Purchase. The Indenture provides that upon the occurrence of a Change of Control Triggering Event and subject to further
limitations contained therein, the Issuer shall make an offer to purchase outstanding Notes in accordance with the procedures set forth in the Indenture. 

  
 A-2-5 

 9. Denominations, Transfer, Exchange. The Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may transfer or exchange Notes only in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements
and transfer documents and to pay to it any taxes and fees required by law or permitted by the Indenture. Neither the Registrar nor the Issuer shall be required to register the transfer of or exchange any Note or portion of a Note selected for
redemption (except the unredeemed portion of any Note redeemed in part), or register the transfer of or exchange any Note during the period beginning at the opening of business 15 days immediately preceding a mailing of notice of redemption and
ending at the close of business on the day of such mailing. 
 10. Persons Deemed Owners. The registered Holder of this Note may be
treated as the owner of this Note for all purposes. 
 11. Unclaimed Money. If money for the payment of principal or interest remains
unclaimed for two years, the Trustee will pay the money back to the Issuer at its written request. After that, Holders entitled to the money must look to the Issuer and the Guarantors for payment as general creditors unless an “abandoned
property” law designates another Person. 
 12. Amendment, Supplement, Waiver, Etc. The Issuer, the Guarantors, if applicable,
and the Trustee may, without the consent of the Holders of any outstanding Notes, amend, waive or supplement the Indenture or the Notes for certain specified purposes, including, among other things, curing ambiguities, defects or inconsistencies,
maintaining the qualification of the Indenture under the TIA, providing for the assumption by a successor to the Issuer of its obligations to the Holders and making any change that does not adversely affect the Indenture rights of any Holder in any
material respect. Other amendments and modifications of the Indenture or the Notes may be made by the Issuer and the Trustee with the consent of the Holders of at least a majority of the aggregate principal amount of the outstanding Notes, subject
to certain exceptions requiring the consent of the Holders of the particular Notes affected. 
 13. Restrictive Covenants. The
Indenture imposes certain limitations on the ability of the Issuer and the Guarantors, as applicable, to, among other things, create Liens, enter into Sale and Lease-Back Transactions or consolidate, merge or sell all or substantially all of the
assets of the Issuer or any Guarantor, and requires the Issuer to provide reports to Holders of the Notes. Such limitations are subject to a number of important qualifications and exceptions. Pursuant to Section 4.06 of the Indenture, the
Issuer must annually report to the Trustee on compliance with such limitations. 
 14. Successor Corporation. When a successor
corporation assumes all the obligations of its predecessor under the Notes and the Indenture and the transaction complies with the terms of Article Five of the Indenture, the predecessor corporation will, except as provided in Article Five, be
released from those obligations. 

  
 A-2-6 

 15. Defaults and Remedies. Events of Default are set forth in the Indenture. Upon the
occurrence of an Event of Default, the rights and obligations of the Issuer, the Guarantors, the Trustee and the Holders will be as set forth in the applicable provisions of the Indenture. 

Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity satisfactory to it
before it enforces the Indenture or the Notes. Subject to certain limitations, Holders of a majority in principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from
Holders notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal of or interest on the Notes, including payments pursuant to a redemption or repurchase of the Notes under the
Indenture) if a Responsible Officer in good faith determines that withholding notice is in their interests. 
 16. Trustee Dealings with
the Issuer. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from and perform services for the Issuer or its Affiliates, and may otherwise deal with the Issuer or its Affiliates, as if it were not Trustee.

 17. No Recourse Against Others. No director, officer, employee, incorporator or stockholder of Quintiles or any Guarantor, as
such, will have any liability for any obligations of Quintiles or the Guarantors under the Notes, this Indenture, the Note Guarantees, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by
accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws. 

18. Discharge. The Issuer’s obligations pursuant to the Indenture will be discharged, except for obligations pursuant to certain
sections thereof, subject to the terms of the Indenture, upon the payment of all the Notes or upon the irrevocable deposit with the Trustee of cash in U.S. Dollars, U.S. Government Obligations or a combination thereof, in such amounts as will be
sufficient to pay when due principal of and interest on the Notes to maturity or redemption, as the case may be. 
 19. Guarantees.
From and after the Issue Date, the Notes will be entitled to the benefits of Note Guarantees made for the benefit of the Holders. Reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and
obligations thereunder of the Guarantors, the Trustee and the Holders. 
 20. Authentication. This Note shall not be valid until the
Trustee or an authenticating agent signs the certificate of authentication on the other side of this Note. 
 21. Governing Law. THIS
NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, 

  
 A-2-7 

 
BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

22. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common),
TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

23. CUSIP Numbers. The Issuer has caused CUSIP numbers to be printed on the Notes and has directed the Trustee to use CUSIP numbers in
notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption. 

The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 

Quintiles Transnational Corp. 

4820 Emperor Boulevard 
 Durham,
North Carolina 27703 
 Attn: General Counsel 

  
 A-2-8 

 ASSIGNMENT 

I or we assign and transfer this Note to: 
  

			
	  

	(Insert assignee’s social security or tax I.D. number)
	
	  

	(Print or type name, address and zip code of assignee)

  

			
	and irrevocably appoint	  	  

Agent to transfer this Note on the books of the Issuer. The Agent may substitute another to act for him. 

 

									
	Date:	 	  
	 		 	Your Signature:	 	  

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

  

					
	 Signature Guarantee:
	  	  
	  	

 SIGNATURE GUARANTEE 

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

  
 A-2-9 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have all or any part of this Note purchased by the Issuer pursuant to Section 4.08 of the Indenture, check the
box: 
  ̈ Section 4.08 

If you want to have only part of the Note purchased by the Issuer pursuant to Section 4.08 of the Indenture, state the amount you elect
to have purchased: 
  

			
	$_____________________________________________________            		
	 ($1,000 or any integral multiple
thereof; provided that the part not
purchased must be at least $2,000)
		

  

							
				
	 Date:
		  
				
			
			Your Signature:		  

							(Sign exactly as your name appears on the face of this Note)
			
	  
				
	Signature Guaranteed				

 SIGNATURE GUARANTEE 

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

  
 A-2-10 

 SCHEDULE OF EXCHANGES OF
INTERESTS IN GLOBAL NOTE* 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Physical Note, or exchanges of a part of
another Global Note or Physical Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease in
Principal Amount
of
this Global Note	  	Amount of increase in
Principal Amount
of
this Global Note	  	Principal Amount
of this Global Note
following such decrease
(or increase)	  	Signature of authorized
signatory of Trustee
		  		  		  		  	

  

	* 	Insert in Global Securities only. 

  
 A-2-11 

 EXHIBIT B 

[FORM OF LEGEND FOR RESTRICTED SECURITIES] 

Any Restricted Note authenticated and delivered hereunder shall bear a legend (which would be in addition to any other legends required in the
case of a Global Note) in substantially the following form: 
 THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH BELOW. EACH
PURCHASER OF THIS NOTE IS HEREBY NOTIFIED THAT THE SELLER OF THIS NOTE MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER OR ANOTHER EXEMPTION UNDER THE SECURITIES ACT. 

BY ITS ACCEPTANCE HEREOF, THE HOLDER OF THIS NOTE (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT), (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT OR (C) IT IS AN “INSTITUTIONAL” ACCREDITED INVESTOR (AS DEFINED
IN RULE 501(a)(1), (2), (3) or (7) UNDER REGULATION D PROMULGATED UNDER THE SECURITIES ACT (AN ‘‘ACCREDITED INVESTOR”) AND (2) AGREES THAT IT WILL NOT WITHIN [ONE YEAR—FOR NOTES ISSUED PURSUANT TO RULE
144A][40 DAYS—FOR NOTES ISSUED IN OFFSHORE TRANSACTIONS PURSUANT TO REGULATION S] AFTER THE LATER OF THE DATE OF THE ORIGINAL ISSUANCE OF THIS NOTE AND THE DATE ON WHICH THE ISSUER OR ANY OF ITS RESPECTIVE AFFILIATES OWNED THIS NOTE,
OFFER, RESELL OR OTHERWISE TRANSFER THIS NOTE EXCEPT (A) (I) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (II) FOR SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT INSIDE THE UNITED STATES TO A PERSON
WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (III) INSIDE THE UNITED STATES TO AN ACCREDITED INVESTOR THAT IS ACQUIRING THE NOTES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT
OF SUCH AN ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE NOTES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR THE OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, AND
THAT PRIOR TO SUCH TRANSFER, FURNISHES (OR HAS FURNISHED ON ITS BEHALF BY A U.S. BROKER-DEALER) TO THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON

  
 B-1 

 
TRANSFER OF THIS NOTE (THE FORM OF WHICH LETTER CAN BE OBTAINED FROM THE TRUSTEE FOR THIS NOTE), (IV) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER
THE SECURITIES ACT (IF AVAILABLE), (V) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (VI) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
(AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), OR (VII) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (B) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES AND
OTHER JURISDICTIONS. BY ITS ACCEPTANCE HEREOF, THE HOLDER OF THIS NOTE FURTHER AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. IN CONNECTION WITH ANY TRANSFER OF THIS NOTE
PURSUANT TO SUBCLAUSES (III) TO (VI) OF CLAUSE (A) ABOVE, THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE TRUSTEE AND THE ISSUER SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS EITHER OF THEM MAY REASONABLY REQUIRE TO
CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES”
AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT. 

  
 B-2 

 EXHIBIT C 

[FORM OF LEGEND FOR GLOBAL NOTE] 

Any Global Note authenticated and delivered hereunder shall bear a legend (which would be in addition to any other legends required in the
case of a Restricted Note) in substantially the following form: 
 THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO
AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY. THIS NOTE IS NOT EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE REGISTERED
EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUERS OR THEIR 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 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. 

  
 C-1 

 EXHIBIT D 

[FORM OF LEGEND FOR NOTE ISSUED WITH OID] 

Any Note issued with more than de minimis original issue discount for U.S. Federal Income Tax purposes authenticated and delivered hereunder
shall bear a legend (which would be in addition to any other legends required in the case of a Restricted Note) in substantially the following form: 

“THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR PURPOSES OF SECTION 1271 ET SEQ. OF THE INTERNAL REVENUE CODE. A HOLDER MAY OBTAIN THE ISSUE PRICE,
AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY FOR SUCH NOTE BY SUBMITTING A REQUEST FOR SUCH INFORMATION TO THE ISSUER AT THE FOLLOWING ADDRESS:
[                    ], ATTENTION:
[                    ].” 

  
 D-1 

 EXHIBIT E 

[FORM OF LEGEND FOR TEMPORARY REGULATION S NOTE] 

Any Regulation S Note authenticated and delivered hereunder shall bear a legend (which would be in addition to any other legends required in
the case of a Restricted Note) for the 40 day distribution compliance period (as defined in Regulation S) in substantially the following form: 

“BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON, NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S.
PERSON, AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.” 

  
 E-1 

 EXHIBIT F 

FORM OF CERTIFICATE OF TRANSFER 

Quintiles Transnational Corp. 
 4820 Emperor Blvd. 

Durham, North Carolina 27601 
 U.S. Bank National Association

 111 Fillmore Avenue East 
 St. Paul, MN 55107-2292 

 

	Attention:	Trustee Administration Manager 

 re: Quintiles Transnational Corp. 

 

							
			Re:		4.875% Senior Notes due 2023		
				
					(CUSIP                     )		
					(ISIN                         )		

 Reference is hereby made to the Indenture, dated as of May 12, 2015 (the “Indenture”), by and among
Quintiles Transnational Corp., as issuer (the “Issuer”), the Guarantors and U.S. Bank National Association, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

                     (the
“Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of
                     in such Note[s] or interests (the “Transfer”), to
                     (the “Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor
hereby certifies that: 
 [CHECK ALL THAT APPLY] 
 1.  ̈ Check if Transferee will take delivery of a beneficial interest in a Rule 144A Global Note or a Physical Note pursuant to Rule 144A. The Transfer is being effected pursuant to and in
accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the beneficial interest or Physical Note is being
transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or Physical Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment
discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable blue sky
securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Physical Note will be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the Rule 144A Global Note and/or the Physical Note and in the Indenture and the Securities Act. 

  
 F-1 

 2.  ̈ Check if Transferee will take delivery of a beneficial
interest in a Regulation S Global Note or a Physical Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby
further certifies that (i) the Transfer is not being made to a person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its
behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any Person
acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the
Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the Restricted Period, the
transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial
interest or Physical Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Physical Note and in the Indenture and the Securities Act. 

3.  ̈ Check and complete if Transferee will take delivery of a beneficial interest in the Global Note or
a Physical Note pursuant to any provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Global Notes
and Restricted Physical Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies that (check one): 

(a)         ̈    
    such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act; 
 or 

(b)         ̈    
    such Transfer is being effected to the Issuer or a Subsidiary thereof; 
 or 

(c)         ̈    
    such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus delivery requirements of the Securities Act; 

or 

  
 F-2 

 (d)  ̈ such Transfer is being
effected to an Institutional Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144 or Rule 904, and the Transferor hereby further certifies that it has not engaged in
any general solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a Restricted Global Note or Restricted Physical Notes and the
requirements of the exemption claimed, which certification is supported by (1) a certificate executed by the Transferee in the form of Exhibit H to the Indenture and (2) if such Transfer is in respect of a principal amount of Notes
at the time of transfer of less than $250,000, an opinion of counsel provided by the Transferor or the Transferee (a copy of which the Transferor has attached to this certification), to the effect that such Transfer is in compliance with the
Securities Act. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Physical Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend
printed on the Global Note and/or the Physical Notes and in the Indenture and the Securities Act. 
 4.
 ̈ Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global Note or an Unrestricted Physical Note. 

(a)  ̈ Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected
pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture,
the transferred beneficial interest or Physical Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Physical Notes and in the Indenture. 

(b)  ̈ Check if Transfer is pursuant to Regulation S. (i) The Transfer is being
effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and
(ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of
the Indenture, the transferred beneficial interest or Physical Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Physical Notes and in the
Indenture. 
 (c)  ̈ Check if Transfer is pursuant to Other Exemption. (i) The
Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture
and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained 

  
 F-3 

 
in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms
of the Indenture, the transferred beneficial interest or Physical Note will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes or Restricted Physical Notes and in the
Indenture. 
 (d)  ̈ Check if Transfer is pursuant to an Effective Registration
Statement. (i) The Transfer is being effected pursuant to and in compliance with an effective registration statement under the Securities Act and any applicable blue sky securities laws of any State of the United States and in compliance
with the prospectus delivery requirements of the Securities Act and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Physical Note will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the
Restricted Global Notes or Restricted Physical Notes and in the Indenture. 
 This certificate and the statements contained herein are made
for your benefit and the benefit of the Issuer. 
  

			
	  

	[Insert Name of Transferor]
		
	By:		  

	Name:		
	Title:		

 Dated:
                     

  
 F-4 

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

	1.	The Transferor owns and proposes to transfer the following: 

 [CHECK ONE] 

 

	 	(a)	 ̈ a beneficial interest in a: 

  

	 	(i)	 ̈ Rule 144A Global Note (CUSIP             )
(ISIN             ), or 

  

	 	(ii)	 ̈ Regulation S Global Note (CUSIP             )
(ISIN             ), or 

  

	 	(b)	 ̈ a Restricted Physical Note. 

  

	2.	After the Transfer the Transferee will hold: 

 [CHECK ONE] 

 

	 	(a)	 ̈ a beneficial interest in the: 

  

	 	(i)	 ̈ Rule 144A Global Note (CUSIP             )
(ISIN             ), or 

  

	 	(ii)	 ̈ Regulation S Global Note (CUSIP
            )(ISIN             ), or 

  

	 	(iii)	 ̈ Unrestricted Global Note (CUSIP             )
(ISIN             ), or 

  

	 	(b)	 ̈ a Restricted Physical Note; or 

  

	 	(c)	 ̈ an Unrestricted Physical Note, 

 in accordance
with the terms of the Indenture. 

  
 F-5 

 EXHIBIT G 

FORM OF CERTIFICATE OF EXCHANGE 

Quintiles Transnational Corp. 
 4820 Emperor Blvd. 

Durham, North Carolina 27601 
 U.S. Bank National Association

 111 Fillmore Avenue East 
 St. Paul, Minnesota 55107-2292

  

	Attention:	Trustee Administration Manager 

 re: Quintiles Transnational Corp. 

 

							
			 Re:
		4.875% Senior Notes due 2023		
				
					(CUSIP                     )		
					(ISIN                         )		

 Reference is hereby made to the Indenture, dated as of May 12, 2015 (the “Indenture”), by and among
Quintiles Transnational Corp., as issuer (the “Issuer”), the Guarantors and U.S. Bank National Association, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

                     (the
“Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of
                     in such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies
that: 
 1. Exchange of Restricted Physical Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Physical Notes or Beneficial
Interests in an Unrestricted Global Note 
 (a)  ̈ Check if Exchange is from
beneficial interest in a Restricted Global Note to beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an
Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the
transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the United States Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky
securities laws of any state of the United States. 

  
 G-1 

 (b)  ̈ Check if Exchange is from Restricted
Physical Note to beneficial interest in an Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Physical Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Physical Notes and pursuant to and in accordance
with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being
acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 (c)  ̈ Check if Exchange is from Restricted Physical Note to Unrestricted Physical Note. In connection with the Owner’s Exchange of a Restricted Physical Note for an Unrestricted Physical Note,
the Owner hereby certifies (i) the Unrestricted Physical Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted
Physical Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act
and (iv) the Unrestricted Physical Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

2. Exchange of Restricted Physical Notes for Restricted Physical Notes or Beneficial Interests in Restricted Global Notes. 

(a)  ̈ Check if Exchange is from Restricted Physical Note to beneficial interest in a
Restricted Global Note. In connection with the Exchange of the Owner’s Restricted Physical Note for a beneficial interest in the [CHECK ONE]      Rule 144A Global Note or      Regulation S Global
Note with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer
restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed
Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and
the Securities Act. 

  
 G-2 

 This certificate and the statements contained herein are made for your benefit and the benefit of
the Issuer. 
  

			
	  

	[Insert Name of Owner]
		
	By:		  

	Name:		
	Title:		

 Dated:
                     

  
 G-3 

 EXHIBIT H 

FORM OF CERTIFICATE FROM 

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR 

Quintiles Transnational Corp. 
 4820 Emperor Blvd. 

Durham, North Carolina 27601 
 U.S. Bank National Association

 111 Fillmore Avenue East 
 St. Paul, MN 55107-2292 

 

	Attention:	Trustee Administration Manager 

 re: Quintiles Transnational Corp. 

 

							
			Re:		4.875% Senior Notes due 2023		
				
					(CUSIP                     )		
					(ISIN                         )		

 Reference is hereby made to the Indenture, dated as of May 12, 2015 (the “Indenture”), by and among
Quintiles Transnational Corp., as issuer (the “Issuer”), the Guarantors and U.S. Bank National Association. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

In connection with our proposed purchase of
                     aggregate principal amount of: 

(a)         ̈       
 a beneficial interest in a Global Note, or 

(b)         ̈       
 a Physical Note, 
 we confirm that: 
 1.
We understand that any subsequent transfer of the Notes or any interest therein is subject to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer
the Notes or any interest therein except in compliance with, such restrictions and conditions and the United States Securities Act of 1933, as amended (the “Securities Act”). 

2. We understand that the offer and sale of the Notes have not been registered under the Securities Act, and that the Notes and any interest
therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on 

  
 H-1 

 
behalf of any accounts for which we are acting as hereinafter stated, that if we should sell the Notes or any interest therein, we will do so only (A) to the Issuer or any Subsidiary
thereof, (B) in accordance with Rule 144A under the Securities Act to a “qualified institutional buyer” (as defined therein), (c) to an institutional “accredited investor” (as defined below) that, prior to such
transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the Issuer a signed letter substantially in the form of this letter and, if such transfer is in respect of a principal amount of Notes, at the time of
transfer, of less than $250,000, an Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such transfer is in compliance with the Securities Act, (D) outside the United States in accordance with Rule 904 of
Regulation S under the Securities Act or (E) pursuant to an effective registration statement under the Securities Act, and we further agree to provide to any person purchasing the Physical Note or beneficial interest in a Global Note from us in
a transaction meeting the requirements of clauses (A) through (E) of this paragraph a notice advising such purchaser that resales thereof are restricted as stated herein. 

3. We understand that, on any proposed resale of the Notes or beneficial interest therein, we will be required to furnish to you and the
Issuer such certifications, legal opinions and other information as you and the Issuer may reasonably require to confirm that the proposed sale complies with the foregoing restrictions. We further understand that the Notes purchased by us will bear
a legend to the foregoing effect. 
 4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2),
(3) or (7) of Regulation D under the Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Notes, and we and any accounts for
which we are acting are each able to bear the economic risk of our or its investment. 
 5. We are acquiring the Notes or beneficial
interest therein purchased by us for our own account or for one or more accounts (each of which is an institutional “accredited investor”) as to each of which we exercise sole investment discretion. 

You and the Issuer are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. 
  

			
	  

	[Insert Name of Accredited Owner]
		
	By:		  

	Name:		
	Title:		

 Dated:
                     

  
 H-2

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