Document:

EX-4.2

 Exhibit 4.2 

Execution Version 
  

 
  

AutoNation, Inc., as Issuer 

and 
 Wells Fargo Bank,
National Association, as Trustee 
  

 
 Supplemental
Indenture 
 Dated as of July 29, 2021 

to Indenture 
 Dated as of
April 14, 2010 
 Establishing a series of Securities designated 

1.950% Senior Notes due 2028 

2.400% Senior Notes due 2031 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	  

	DEFINITIONS AND INCORPORATION BY REFERENCE	  

			
	 SECTION 1.01
	 	 Relation to Base Indenture
	  	 	1	 
	 SECTION 1.02
	 	 Definitions
	  	 	1	 
	
	ARTICLE II	  

	CREATION, FORMS, TERMS AND CONDITIONS OF THE SECURITIES	  

			
	 SECTION 2.01
	 	 Creation of the Notes
	  	 	10	 
	 SECTION 2.02
	 	 Form of the Notes
	  	 	10	 
	 SECTION 2.03
	 	 Terms and Conditions of the Notes
	  	 	11	 
	 SECTION 2.04
	 	 Ranking
	  	 	12	 
	 SECTION 2.05
	 	 Sinking Fund
	  	 	12	 
	 SECTION 2.06
	 	 Place of Payment
	  	 	13	 
	 SECTION 2.07
	 	 Transfer and Exchange
	  	 	13	 
	 SECTION 2.08
	 	 Cancellation and/or Adjustment of Global Notes
	  	 	13	 
	
	ARTICLE III	  

	REDEMPTION OF THE NOTES	  

			
	 SECTION 3.01
	 	 Optional Redemption by Company of the 2028 Notes
	  	 	14	 
	 SECTION 3.02
	 	 Optional Redemption by Company of the 2031 Notes
	  	 	15	 
	
	ARTICLE IV	  

	CHANGE OF CONTROL	  

			
	 SECTION 4.01
	 	 Repurchase at the Option of Holders Upon Change of Control Repurchase Event
	  	 	16	 
		
	ARTICLE V	  			
	COVENANTS	  			
			
	 SECTION 5.01
	 	 Limitation on Liens
	  	 	17	 
	 SECTION 5.02
	 	 Limitations on Sale and Leaseback Transactions
	  	 	20	 
	 SECTION 5.03
	 	 Limitation on Issuances of Guarantees of Indebtedness
	  	 	20	 
	 SECTION 5.04
	 	 Merger, Consolidation or Sale of Assets
	  	 	22	 
	 SECTION 5.05
	 	 Compliance Certificate
	  	 	22	 
	
	ARTICLE VI	  

	DEFAULTS AND REMEDIES	  

			
	 SECTION 6.01
	 	 Events of Default
	  	 	23	 
	
	ARTICLE VII	  

	DEFEASANCE AND COVENANT DEFEASANCE; DISCHARGE	  

			
	 SECTION 7.01
	 	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	24	 
	 SECTION 7.02
	 	 Defeasance and Discharge
	  	 	24	 
	 SECTION 7.03
	 	 Covenant Defeasance
	  	 	25	 
	 SECTION 7.04
	 	 Conditions to Defeasance or Covenant Defeasance
	  	 	25	 

  
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	 	 	 	  	Page	 
	 SECTION 7.05
	 	 Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous
Provisions
	  	 	26	 
	 SECTION 7.06
	 	 Repayment to the Company
	  	 	27	 
	 SECTION 7.07
	 	 Reinstatement
	  	 	27	 
	 SECTION 7.08
	 	 Discharge
	  	 	27	 
	
	ARTICLE VIII	  

	AMENDMENT, SUPPLEMENT AND WAIVER	  

			
	 SECTION 8.01
	 	 Without Consent of Holders of Notes
	  	 	28	 
	 SECTION 8.02
	 	 With Consent of Holders of Notes
	  	 	29	 
	 SECTION 8.03
	 	 Revocation and Effect of Consents
	  	 	31	 
	 SECTION 8.04
	 	 Notation on or Exchange of Notes
	  	 	31	 
	 SECTION 8.05
	 	 Trustee to Sign Amendments, etc.
	  	 	31	 
	
	ARTICLE IX	  

	[RESERVED]	  

	
	ARTICLE X	  

	MISCELLANEOUS PROVISIONS	  

			
	 SECTION 10.01
	 	 Ratification of Base Indenture
	  	 	31	 
	 SECTION 10.02
	 	 Conflict with Trust Indenture Act
	  	 	31	 
	 SECTION 10.03
	 	 Conflict with Base Indenture
	  	 	31	 
	 SECTION 10.04
	 	 Effect of Headings
	  	 	32	 
	 SECTION 10.05
	 	 Successors and Assigns
	  	 	32	 
	 SECTION 10.06
	 	 Separability Clause
	  	 	32	 
	 SECTION 10.07
	 	 GOVERNING LAW
	  	 	32	 
	 SECTION 10.08
	 	 WAIVER OF JURY TRIAL
	  	 	32	 
	 SECTION 10.09
	 	 Counterparts
	  	 	32	 

 EXHIBITS 
 EXHIBIT A
– Form of 2028 Note 
 EXHIBIT B – Form of 2031 Note 

EXHIBIT C – Form of Supplemental Indenture Evidencing Future Guarantees 

  
 ii 

 SUPPLEMENTAL INDENTURE, dated as of July 29, 2021 (this “Supplemental
Indenture”), by and between AutoNation, Inc., a Delaware corporation (the “Company”), and Wells Fargo Bank, National Association, a national banking association, as trustee (the “Trustee”). 

RECITALS OF THE COMPANY 

WHEREAS, the Company and the Trustee have heretofore executed and delivered an Indenture, dated as of April 14, 2010 (the “Base
Indenture” and, together with this Supplemental Indenture, the “Indenture”), providing for the issuance from time to time of the Company’s debentures, notes or other evidences of Indebtedness (herein and therein called the
“Securities”), to be issued in one or more series as provided in the Base Indenture; 
 WHEREAS, Section 14.01 of the Base
Indenture permits the Company and the Trustee to enter into a supplemental indenture to the Base Indenture to establish the form and terms of any series of Securities; 

WHEREAS, Section 2.01 of the Base Indenture permits the form of Securities of any series to be established in a supplemental indenture to
the Base Indenture; 
 WHEREAS, Section 3.01 of the Base Indenture permits certain terms of any series of Securities to be established
pursuant to a supplemental indenture to the Base Indenture; 
 WHEREAS, pursuant to Sections 2.01 and 3.01 of the Base Indenture, the
Company desires to provide for the establishment of two new series of Securities consisting of (i) $400 million in an initial aggregate principal amount of Securities to be designated the “1.950% Senior Notes due 2028” (hereinafter
called the “2028 Notes”) and (ii) $450 million the “2.400% Senior Notes due 2031” (hereinafter called the “2031 Notes” and, together with the “2028 Notes,” the “Notes”) under the Base Indenture,
the form and substance of such Notes and the terms, provisions and conditions thereof to be set forth as provided in the Base Indenture and this Supplemental Indenture; and 

WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of the Company, in accordance with its terms, have been
done; 
 NOW, THEREFORE, for and in consideration of the foregoing and the purchase of the Notes established by this Supplemental Indenture
by the Holders (as defined below) thereof, it is mutually agreed, for the equal and proportionate benefit of all such Holders, as follows: 

ARTICLE I 
 DEFINITIONS
AND INCORPORATION BY REFERENCE 
 SECTION 1.01    Relation to Base Indenture. This Supplemental Indenture
constitutes a part of the Base Indenture (the provisions of which, as modified by this Supplemental Indenture, shall apply to the Notes) in respect of the Notes but shall not modify, amend or otherwise affect the Base Indenture insofar as it relates
to any other series of Securities or modify, amend or otherwise affect in any manner the terms and conditions of the Securities of any other series. 

SECTION 1.02    Definitions. For all purposes of this Supplemental Indenture, the capitalized terms used herein
(i) which are defined in this Section 1.02 have the respective meanings assigned hereto in this Section 1.02 and (ii) which are defined in the Base Indenture 

 
(and which are not defined in this Section 1.02) have the respective meanings assigned thereto in the Base Indenture. For all purposes of this Supplemental Indenture: 

(a)    Unless otherwise indicated or the context otherwise requires, any reference to an Article or Section refers to an
Article or Section, as the case may be, of this Supplemental Indenture; 
 (b)    The words “herein,”
“hereof” and “hereunder” and words of similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision; 

(c)    Headings are for convenience or reference only and do not affect interpretations; and 

(d)    The terms defined in this Section 1.02(d) have the meanings assigned to them in this Section and include the
plural as well as the singular: 
 “2028 Global Note” means a single permanent fully-registered global note in book-entry form,
without coupons, substantially in the form of Exhibit A attached hereto. 
 “2028 Global Note Legend” means a legend
containing substantially the legend set forth in the form of the 2028 Note attached as Exhibit A hereto. 
 “2028 Maturity
Date” has the meaning set forth in Section 2.03(b) hereof. 
 “2028 Par Call Date” means June 1, 2028 (two months
prior to the 2028 Maturity Date). 
 “2031 Global Note” means a single permanent fully-registered global note in book-entry form,
without coupons, substantially in the form of Exhibit B attached hereto. 
 “2031 Global Note Legend” means a legend
containing substantially the legend set forth in the form of the 2031 Note attached as Exhibit B hereto. 
 “2031 Maturity
Date” has the meaning set forth in Section 2.03(b) hereof. 
 “2031 Par Call Date” means May 1, 2031 (three months
prior to the 2031 Maturity Date). 
 “Affiliate” means, as to any Person, any other Person who, directly or indirectly, through
one or more intermediaries, controls, or is controlled by, or is under common control with, the first referred to Person. The term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the
management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 
 “Applicable
Procedures” has the meaning set forth in Section 2.07(a). 
 “Attributable Debt” means, with respect to any Sale and
Leaseback Transaction, at the time of determination, the total obligation (discounted to the present value at the imputed rate of interest as determined in good faith by the Company) of the lessee for rental payments (other than amounts required to
be paid on account of taxes, assessments, maintenance, repairs, insurance, water rates or similar charges required to be paid by such lessee thereunder and other items which do not constitute payments for property rights or any amount required to be
paid by lessee thereunder contingent upon the amount of maintenance, repairs, insurance, taxes, assessments, water charges or similar charges) during the remaining portion of the initial term of the lease included in such Sale and Leaseback
Transaction. In the case of any lease which is terminable by 

  
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the lessee upon the payment of a penalty, such rental payments shall be the lesser of (x) the amount determined assuming termination upon the first date such lease may be terminated (in
which case the amount shall also include the amount of the penalty, but shall not include any rent that would be required to be paid under such lease subsequent to the first date upon which it may be so terminated) or (y) the amount determined
assuming no such termination. 
 “Automobile Retailing Activities” means vehicle retailing, wholesaling, leasing, financing,
servicing and related activities. 
 “Bankruptcy Law” means Title 11, United States Bankruptcy Code of 1978, or any similar United
States federal or state law or foreign law relating to the bankruptcy, insolvency, receivership, winding up, liquidation, reorganization or relief of debtors or any amendment to, succession to or change in any such law. 

“Base Indenture” has the meaning given to such term in the recitals hereof. 

“Capital Stock” of any Person means any and all shares, interests, participations, rights in or other equivalents (however
designated) of such Person’s capital stock, other equity interests whether now outstanding or issued after the Issue Date, partnership interests (whether general or limited), limited liability company interests, any other interest or
participation that confers on a Person that right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, including any Preferred Stock, and any rights (other than debt securities convertible into Capital
Stock), warrants or options exchangeable for or convertible into such Capital Stock. 
 “Change of Control” shall occur if: 

(1)     any “Person” or “group” (as such terms are used in Sections 13(d)(3) and 14(d)(2) of the
Exchange Act), is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that for purposes of this clause
(1) such Person shall be deemed to have “beneficial ownership” of all shares that any such Person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of
more than 50% of the total outstanding Voting Stock of the Company; 
 (2)     the Company consolidates with or merges
with or into any Person, or any Person consolidates with or merges into or with the Company, in any such event pursuant to a transaction in which the outstanding Voting Stock of the Company is converted into or exchanged for cash, securities or
other property, other than any such transaction where the outstanding Voting Stock of the Company is converted into or exchanged for Voting Stock of such surviving Person representing a majority of the voting power of all Voting Stock of such
surviving Person immediately after giving effect to such issuance; 
 (3)     the sale, lease, transfer, conveyance or
other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole to any “Person” or
“group” (as such terms are used in Section 13(d) and 14(d) of the Exchange Act) other than to the Company or one of the Company’s Subsidiaries; or 

(4)     the Company is liquidated or dissolved or adopts a plan of liquidation or dissolution other than in a transaction
which complies with Section 5.04. 
 “Change of Control Offer” has the meanings set forth in Section 4.01(b). 

  
 3 

 “Change of Control Repurchase Event” means the occurrence of both a Change of
Control and a Ratings Event. 
 “Commodity Price Protection Agreement” means any forward contract, commodity swap, commodity
option or other similar financial agreement or arrangement relating to, or the value which is dependent upon, fluctuations in commodity prices. 

“Company” has the meaning given to such term in the preamble hereof. 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term (as measured from the Redemption Date) of the Notes (assuming for this purpose that the Notes matured on the applicable Par Call Date) that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes. 

“Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer
Quotations obtained by the Company for such Redemption Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, (ii) if the Company is unable to obtain at least four such Reference Treasury Dealer Quotations,
the average of all Reference Treasury Dealer Quotations obtained by the Company or (iii) if the Company can only obtain one Reference Treasury Dealer Quotation, such quotation. 

“Consolidated Net Tangible Assets” means, of any Person as of any date, the total assets of such Person and its Subsidiaries as of
the most recent fiscal quarter end for which a consolidated balance sheet of such Person and its Subsidiaries is available as of that date, minus (i) all current liabilities of such Person and its Subsidiaries reflected on such balance sheet
(excluding any current liabilities for borrowed money having a maturity of less than 12 months but by its terms being renewable or extendible beyond 12 months from such date at the option of the borrower) and (ii) all goodwill, tradenames,
trademarks, patents, unamortized debt discount (to the extent included in total assets) and expense and other like intangible assets of such Person and its Subsidiaries reflected on such balance sheet, all calculated on a consolidated basis in
accordance with GAAP. 
 “Covenant Defeasance” has the meaning set forth in Section 7.03 hereof. 

“Credit Agreement” means the third amended and restated credit agreement, among the Company, as borrower, JPMorgan Chase Bank, N.A.,
as administrative agent, and the lenders party thereto from time to time, dated as of March 26, 2020, as such agreement, in whole or in part, in one or more instances, may be amended, renewed, extended, substituted, refinanced, restructured,
replaced, supplemented or otherwise modified from time to time (including, without limitation, any successive renewals, extensions, substitutions, refinancings, restructurings, replacements, supplements or other modifications of the foregoing). 

“Currency Agreement” means in respect of a Person any foreign exchange contract, currency swap agreement or other similar agreement
or arrangements designed to protect such Person against fluctuations in currency values. 
 “Debt Facilities” means one or more
debt facilities or commercial paper facilities, in each case with banks or other financial institutions or institutional lenders, or other Persons which provide, originate or arrange debt or commercial paper facilities, providing for revolving
credit loans, term loans, receivables financing or letters of credit, including the Credit Agreement, and/or one or more indentures relating to debt securities, in each case in existence from time to

  
 4 

 
time as such facilities, in whole or in part, in one or more instances, may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified from
time to time (including, without limitation, any successive renewals, extensions, substitutions, refinancings, restructurings, replacements, supplements or other modifications of the foregoing). 

“Defeasance” has the meaning set forth in Section 7.02 hereof. 

“Definitive Notes” means certificated Notes registered in the name of the Holder thereof and issued in accordance with
Section 2.02 hereof, substantially in the form of Exhibit A or Exhibit B hereto, as applicable, except that such Security shall not bear the Global Note Legend. 

“Depositary” means, with respect to Global Notes issued under this Supplemental Indenture, DTC. 

“Dollar” and “$” means the lawful currency of the United States of America. 

“Domestic Subsidiary” means a Subsidiary of the Company that is organized or existing under the laws of the United States, any state
thereof, the District of Columbia or any territory thereof. 
 “DTC” means The Depository Trust Company, its nominees and their
successors and assigns. 
 “Eligible Special Purpose Entity” means any Person which is or is not a Subsidiary of the Company which
has been formed by or for the benefit of the Company or any Subsidiary of the Company for the purpose of (i) financing or refinancing, leasing, selling or securitizing Vehicles or related receivables and which finances, refinances or
securitizes Vehicles or related receivables of, leases Vehicles to or purchases Vehicles or related receivables from the Company or any Subsidiary of the Company; or (ii) financing or refinancing consumer receivables, leases, loans or retail
installment contracts. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the
rules and regulations promulgated by the Securities and Exchange Commission thereunder. 
 “Existing
Pre-2020 Senior Notes” means, collectively, the Company’s 3.500% Senior Notes due 2024, 4.500% Senior Notes due 2025 and 3.800% Senior Notes due 2027. 

“Finance Leases” means all leases which have or should be classified as finance leases in accordance with GAAP (pursuant to FASB ASC
Topic 842 “Leases”). 
 “Generally Accepted Accounting Principles” or “GAAP” means U.S. generally
accepted accounting principles and interpretations thereof, consistently applied, which are in effect as of the date hereof. 
 “Global
Note” means a single permanent fully-registered global note in book-entry form, without coupons, substantially in the form of Exhibit A for the 2028 Notes and Exhibit B for the 2031 Notes, each attached hereto. 

“2028 Global Note Legend” means a legend containing substantially the legend set forth in the form of the 2028 Note attached as
Exhibit A hereto for the 2028 Notes and in the form of the 2031 Note attached as Exhibit B hereto for the 2031 Notes. 

  
 5 

 “Guarantee” means any obligation, contingent or otherwise, of any Person directly
or indirectly guaranteeing any Indebtedness of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person (1) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness
of such other Person (whether arising by virtue of partnership arrangements, or by agreement to keep well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement conditions or otherwise) or
(2) entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided, however, that the
term “guarantee” will not include endorsements for collection or deposit in the ordinary course of business. The term “guarantee,” when used as a verb, has a correlative meaning. 

“Guarantors” means each Domestic Subsidiary of the Company that executes a Subsidiary Guarantee in accordance with the provisions of
this Supplemental Indenture, and their respective successors and assigns. 
 “Holder” means the Person in whose name a Note is
registered on the Register. 
 “Incur” means issue, assume, guarantee or otherwise become liable for Indebtedness. 

“Indebtedness” means, with respect to any Person, obligations of such Person for borrowed money (including, without limitation,
Indebtedness for borrowed money evidenced by notes, bonds, debentures or similar instruments), excluding any trade payables and other current liabilities arising in the ordinary course of business. 

“Indenture” has the meaning given to such term in the recitals hereof. 

“Independent Investment Banker” means BofA Securities, Inc., J.P. Morgan Securities LLC, Truist Securities, Inc. or Wells Fargo
Securities, LLC, or, if such firms are unwilling or unable to select the applicable Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company. 

“Indenture Obligations” means the obligations of the Company and any other obligor under the Indenture or under the Notes, including
any Guarantor, to pay principal of, premium, if any, and interest when due and payable, and all other amounts due or to become due under or in connection with this Indenture, the Notes and the performance of all other obligations to the Trustee and
the holders under this Indenture and the Notes, according to the respective terms thereof. 
 “Indirect Participant” means a
Person who holds a beneficial interest in a Global Note through a Participant. 
 “Interest Payment Date” has the meaning set
forth in Section 2.03(c). 
 “Interest Rate Agreement” means, in respect of a Person, any interest rate swap agreement,
interest rate cap agreement or other financial agreement or arrangement designed to protect such Person against fluctuations in interest rates. 

“Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of
Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P) or the equivalent Investment Grade credit rating from any additional Rating Agency
or Rating Agencies selected by the Company. 

  
 6 

 “Issue Date” means July 29, 2021. 

“Lien” means any mortgage or deed of trust, charge, pledge, lien (statutory or otherwise), privilege, security interest, assignment,
deposit, arrangement, easement, hypothecation, claim, preference, priority or other encumbrance upon or with respect to any property of any kind (including any conditional sale, capital lease or other title retention agreement, any leases in the
nature thereof, and any agreement to give any security interest), real or personal, movable or immovable, now owned or hereafter acquired. A Person will be deemed to own subject to a Lien any property which it has acquired or holds subject to the
interest of a vendor or lessor under any conditional sale agreement, Finance Lease or other title retention agreement. 

“Maturity” means, when used with respect to the Notes of a series, the date on which the principal of the Notes of such series
becomes due and payable as therein provided or as provided in the Indenture, whether at Stated Maturity or the Redemption Date and whether by declaration of acceleration, Change of Control Offer in respect of a Change of Control Repurchase Event,
call for redemption or otherwise. 
 “Moody’s” means Moody’s Investors Service Inc., a subsidiary of Moody’s
Corporation, and its successors. 
 “Mortgage Facilities” means one or more debt facilities in each case with banks, manufacturers
and/or other entities providing for borrowings secured primarily by real property in each case as amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in part from time to time; provided, that the value of the
security securing such debt facilities shall not, at the time such debt facilities are entered into, exceed 100% of the aggregate principal amount of the Indebtedness in respect of such debt facilities. 

“Notes” has the meaning given to such term in the recitals hereof. 

“Par Call Date” means June 1, 2028 (two months prior to the 2028 Maturity Date) for the 2028 Notes and May 1, 2031 (three
months prior to the 2031 Maturity Date) for the 2031 Notes. 
 “Participant” means, with respect to the Depositary, a Person who
has an account with the Depositary. 
 “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. 

“Preferred Stock” means, with respect to any Person, any Capital Stock of any class or classes (however designated) which is
preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over the Capital Stock of any other class in such Person. 

“Principal Property” means any building, structure or other facility located within the United States (other than its territories
and possessions) and owned by the Company or any Domestic Subsidiary, the book value of which is not less than 0.5% of the Company’s Consolidated Net Tangible Assets. For purposes of this definition, book value will be measured at the time the
relevant Lien is being created or, in the case of any Lien incurred pursuant to Section 5.01(c), at the time the relevant secured Indebtedness is deemed to be Incurred. The term “Principal Property” does not include any building,
structure or other facility that the Board of Directors declares by resolution not to be of material importance to the total business conducted by the Company and its Domestic Subsidiaries taken as a whole. 

  
 7 

 “Prospectus Supplement” means the prospectus supplement of the Company dated
July 26, 2021, relating to the Notes. 
 “Rating Agency” means (1) each of Moody’s and S&P and (2) if
either of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the control of the Company, a “nationally recognized statistical rating organization” within the
meaning of Section 3(a)(62) of the Exchange Act, selected by the Company as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“Rating Date” means the date that is 60 days prior to the earlier of (i) a Change of Control or (ii) public notice of the
occurrence of a Change of Control or of the intention by the Company to effect a Change of Control. 
 “Ratings Event” means the
occurrence of the events described in (a) or (b) of this definition on, or within 60 days after the earlier of, (i) the occurrence of a Change of Control or (ii) public notice of the occurrence of a Change of Control or the intention
by the Company to effect a Change of Control (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies): (a) if the Notes are rated by one or
both Rating Agencies on the Rating Date as Investment Grade, the rating of the Notes shall be reduced so that the Notes are rated below Investment Grade by both Rating Agencies or (b) if the Notes are rated below Investment Grade by both Rating
Agencies on the Rating Date, the rating of the Notes shall remain below Investment Grade by both Rating Agencies. 
 “Redemption
Date” means the Business Day on which Notes are redeemed by the Company pursuant to Section 3.01 or 3.02 hereof, as applicable. 

“Reference Treasury Dealer” means each of (i) BofA Securities, Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC,
and a Primary Treasury Dealer (as defined herein) selected by Truist Securities, Inc. and their respective successors; and (ii) at least one other primary U.S. government securities dealer in New York City (each, a “Primary Treasury
Dealer”) selected by the Independent Investment Banker; provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date for the 2028
Notes and 2031 Notes, as applicable, an average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue for the Notes, expressed in each case as a percentage of its principal amount, quoted in writing to the
Company by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Regular Record Date” has the meaning set forth in Section 2.03(c). 

“Registered Securities” means any Securities which are registered in the Register. 

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

“Sale and Leaseback Transaction” means an arrangement by the Company or any of its Domestic Subsidiaries with any other Person
pursuant to which the Company or any of its Domestic Subsidiaries leases any Principal Property that has been or is to be sold or transferred by the Company or any Domestic Subsidiary to such other Person with the intention of taking back a lease,
whether now owned or hereafter acquired. 

  
 8 

 “Securities” has the meaning given to such term in the recitals hereof. 

“Significant Subsidiary” means any Subsidiary which is a “significant subsidiary” within the meaning of Rule 405 under the
Securities Act. 
 “Stated Maturity” means, when used with respect to any Indebtedness or any installment of interest thereon, the
dates specified in such Indebtedness as the fixed date on which the principal of such Indebtedness or such installment of interest, as the case may be, is due and payable. 

“Subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company,
partnership, association or other entity of which a majority of the shares or securities or other interests having ordinary voting power for the election of directors or another governing body (other than securities or interests having such power
only by reason of the happening of a contingency) are at the time beneficially owned directly or indirectly through one or more intermediaries, or both, by the parent. 

“Subsidiary Guarantee” means the guarantee by any Guarantor of the Company’s Indenture Obligations. 

“Treasury Yield” means, with respect to any Redemption Date applicable to the Notes, the rate per annum equal to the semi-annual
equivalent yield to maturity, computed as of the third Business Day immediately preceding the Redemption Date, of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue, expressed as a percentage of its principal amount,
equal to the applicable Comparable Treasury Price for such Redemption Date. 
 “Trustee” has the meaning given to such term in the
preamble hereof. 
 “Vehicle Inventory Indebtedness” means Indebtedness (including pursuant to a commercial paper program)
Incurred by the Company, any Subsidiary of the Company or any Eligible Special Purpose Entity to purchase, lease, finance or refinance or guarantee the purchasing, leasing, financing or refinancing of Vehicles in the ordinary course of business of
the Company and its Subsidiaries or related receivables, which Indebtedness (x) is secured by the Vehicles or related receivables so financed, to the extent, at any date of determination thereof, the amount of such Indebtedness does not exceed
the depreciated book value of such Vehicles or the book value of such related receivables determined in accordance with GAAP applied on a consistent basis or (y) is unsecured and provides for a borrowing base which may not exceed 85% of the
value of such Vehicles. 
 “Vehicle Receivables Indebtedness” means Indebtedness (including pursuant to a commercial paper
program) Incurred by any Eligible Special Purpose Entity to finance, refinance or guarantee the financing or refinancing of consumer receivables, leases, loans or retail installment contracts incurred in the sale, transfer or lease of Vehicles;
provided (x) no assets other than the Vehicles, consumer receivables, leases, loans, retail installment contracts or related proceeds (including, without limitation, proceeds from insurance, Vehicles and other obligations under such
receivables, leases, loans or retail installment contracts) to be financed or refinanced secure such Indebtedness; and (y) neither the Company nor any of its other Subsidiaries shall incur any liability with respect to such Indebtedness other
than liability arising by reason of (1) a breach of a representation or warranty or customary indemnities, in each case contained in any instrument relating to such Indebtedness or (2) customary interests retained by the Company and/or its
Subsidiaries in such Indebtedness. 

  
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 “Vehicles” means all now existing or hereafter acquired new and used automobiles,
sport utility vehicles, trucks and vans of all types and descriptions, whether held for sale, lease, rental or operational purposes, which relate to the Company’s or any of its Subsidiary’s Automobile Retailing Activities. 

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

ARTICLE II 
 CREATION,
FORMS, TERMS AND CONDITIONS OF THE SECURITIES 
 SECTION 2.01    Creation of the Notes. The Notes are hereby
authorized and are designated the 1.950% Senior Notes due 2028 and the 2.400% Senior Notes due 2031, each unlimited in aggregate principal amount. In accordance with Sections 2.01 and 3.01 of the Base Indenture, the Company hereby creates the 2028
Notes and the 2031 Notes as separate series of its Securities issued pursuant to the Indenture. The 2028 Notes shall be issued on the date hereof initially in an aggregate principal amount of $400,000,000, and the 2031 Notes shall be issued on the
date hereof initially in an aggregate principal amount of $450,000,000, which amounts for the Notes shall be set forth in the written order of the Company for the authentication and delivery of the Notes pursuant to Section 3.03 of the Base
Indenture. In addition, the Company may issue, from time to time in accordance with Section 2.03(e) of this Supplemental Indenture and the other provisions of the Indenture, additional Notes having the same terms and conditions as the Notes
issued on the Issue Date. 
 SECTION 2.02    Form of the Notes. The Notes shall each be issued in the form of a
Global Note, duly executed by the Company and authenticated by the Trustee, which shall be deposited with the Trustee as custodian for DTC and registered in the name of “Cede & Co.,” as the nominee of DTC. The Notes shall be
substantially in the form of Exhibit A for the 2028 Notes and Exhibit B for the 2031 Notes attached hereto (including the Global Note Legend thereon). Notes issued in definitive certificated form in accordance with the terms of the
Base Indenture and this Supplemental Indenture, if any, shall be substantially in the form of Exhibit A for the 2028 Notes and Exhibit B for the 2031 Notes, attached hereto (but without the Global Note Legend thereon). So long
as DTC, or its nominee, is the registered owner of a Global Note, DTC or its nominee, as the case may be, shall be considered the sole owner or Holder of the Notes represented by such Global Note for all purposes under the Indenture. Ownership of
beneficial interests in such Global Note shall be shown on, and transfers thereof shall be effected only through, records maintained by DTC (with respect to beneficial interests of participants) or by participants or Persons that hold interests
through participants (with respect to beneficial interests of beneficial owners). In addition, the following provisions of clauses (1), (2), and (3) below shall apply only to Global Notes: 

(1)    Notwithstanding any other provision in the Indenture, no Global Note may be exchanged in whole or in part for
Securities registered, and no transfer of a Global Note in whole or in part may be registered, in the name of any Person other than the Depositary for such Global Note or a nominee thereof unless (A) such Depositary has notified the Company
that it is unwilling or unable to continue as Depositary for such Global Note or has ceased to be a clearing agency registered under the Exchange Act, and the Company has not appointed a successor 

  
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Depositary within 90 days of receipt of such notice, (B) there shall have occurred and be continuing an Event of Default with respect to the Notes or (C) the Company (subject to the
procedures of the Depositary) so directs the Trustee by Company Order. Beneficial interests in Global Notes may be exchanged for Definitive Notes of the same series upon request upon prior written notice given to the Trustee by us or behalf of the
Depositary in accordance with customary procedures. 
 (2)    Subject to clause (1) above, any exchange of a Global
Note for other Definitive Notes may be made in whole or in part, and all Definitive Notes issued in exchange for a Global Note or any portion thereof shall be registered in such names as the Depositary for such Global Note shall direct. 

(3)    Every Definitive Note authenticated and delivered upon registration of transfer of, or in exchange for or in lieu
of, a Global Note or any portion thereof, shall be authenticated and delivered in the form of, and shall be, a Global Note, unless such note is registered in the name of a Person other than the Depositary for such Global Note or a nominee thereof.

 SECTION 2.03    Terms and Conditions of the Notes. The Notes shall be governed by all the terms and conditions
of the Base Indenture, as supplemented by this Supplemental Indenture. In particular, the following provisions shall be terms of the Notes: 

(a)    Title and Aggregate Principal Amount. The title of the Notes shall be as specified in the Recitals of the
Company; and the aggregate principal amount of the Notes shall be as specified in Section 2.01 of this Article II and this Section 2.03, except as permitted by Sections 3.04, 3.06 or 3.07 of the Base Indenture. 

(b)    Stated Maturity. The 2028 Notes shall mature, and the unpaid principal thereon shall be payable, on
August 1, 2028 (the “2028 Maturity Date”), subject to the provisions of the Base Indenture and Articles III and IV below. The 2031 Notes shall mature, and the unpaid principal thereon shall be payable, on August 1, 2031 (the
“2031 Maturity Date” and, together with the “2028 Maturity Date”, the “Maturity Dates” and each, a “Maturity Date”), subject to the provisions of the Base Indenture and Articles III and IV below. 

(c)    Interest. The rate per annum at which interest shall be payable on the 2028 Notes shall be 1.950%, and the
rate per annum at which interest shall be payable on the 2031 Notes shall be 2.400%. Interest on the Notes shall be payable semi-annually in arrears on each August 1 and February 1, commencing on February 1, 2022 (each, an
“Interest Payment Date”), to the Persons in whose names the applicable Notes are registered in the Register applicable to the Notes at the close of business on the immediately preceding July 15 or January 15, respectively, prior
to the applicable Interest Payment Date regardless of whether such day is a Business Day (each, a “Regular Record Date”). Interest on the Notes shall be computed on the basis of a 360-day year
consisting of twelve 30-day months. Interest on the Notes issued on the Issue Date shall accrue from and including July 29, 2021 or the most recent Interest Payment Date on which interest was paid. If an
Interest Payment Date or a Maturity Date falls on a day that is not a Business Day, the payment shall be made on the next Business Day as if it were made on the date the payment was due, and no interest shall accrue on the amount so payable for the
period from and after that Interest Payment Date or the applicable Maturity Date, as the case may be, to the date the payment is made. Interest payments shall include accrued interest from and including the Issue Date or from and including the last
date in respect to which interest has been paid, as the case may be, to, but excluding, the Interest Payment Date or the applicable Maturity Date, as the case may be. 

  
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 (d)    Registration and Form. The Notes shall be issuable as
Registered Securities as provided in Section 2.02 of this Article II. The Notes shall be issued and may be transferred only in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof. All payments of principal, the
price payable on redemption, the repurchase price payable pursuant to any Change of Control Offer and interest in respect of the Notes shall be made by the Company in immediately available funds. 

(e)    Further Issues. Notwithstanding anything to the contrary contained herein or in the Base Indenture, the
Company may, from time to time, without the consent of or notice to the Holders, create and issue further 2028 Notes or 2031 Notes having the same ranking and terms and conditions as the applicable series of Notes issued on the Issue Date in all
respects, except for the payment of interest accruing prior to the issue date of such additional Notes. Additional Notes issued in this manner shall be consolidated and form a single series with the applicable series of Notes issued on the Issue
Date and shall be governed by the terms of the Indenture; provided, however, that if any additional Notes are not fungible for U.S. federal income tax purposes with the applicable series of Notes issued on the Issue Date, such
additional Notes shall be issued under a separate CUSIP number. Notice of any such issuance shall be given to the Trustee, and a new supplemental indenture shall be executed in connection with the issuance of such additional Notes. 

(f)    Merger, Consolidation or Sale of Assets. The provisions regarding merger, consolidation or sale of assets
contained in Section 6.04 of the Base Indenture are deleted and replaced in their entirety by the provisions of Section 5.04 of this Supplemental Indenture with respect to the Notes. 

(g)    Compliance Certificate. The provisions for furnishing the Trustee certificates regarding compliance
contained in Sections 6.05 and 6.07 of the Base Indenture are deleted and replaced in their entirety by the provisions of Section 5.05 of this Supplemental Indenture with respect to the Notes. 

(h)    Defeasance and Covenant Defeasance; Discharge. The provisions regarding Defeasance, Covenant Defeasance and
Discharge contained in Article XII of the Base Indenture are deleted and replaced in their entirety by the provisions of Article VII of this Supplemental Indenture with respect to the Notes. 

(i)    Amendment, Supplement and Waiver. The provisions regarding amendment, supplement and waiver contained in
Article XIV of the Base Indenture are deleted and replaced in their entirety by the provisions of Article VIII of this Supplemental Indenture with respect to the Notes. 

(j)    Other Terms and Conditions. The Notes shall have such other terms and conditions as provided in the form
thereof attached as Exhibit A, in the case of the 2028 Notes, and Exhibit B, in the case of the 2031 Notes. 
 SECTION
2.04    Ranking. The Notes shall be general unsecured obligations of the Company. The Notes shall rank pari passu in right of payment with all unsecured and unsubordinated indebtedness, including, without
limitation, any unsecured senior indebtedness of the Company, and senior in right of payment to any subordinated indebtedness of the Company. 

SECTION 2.05    Sinking Fund. The Notes shall not be entitled to any sinking fund. 

  
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 SECTION 2.06    Place of Payment. The Place of Payment in respect
of the Notes will be at the office or agency of the Company in The City of New York, State of New York or at the office or agency of the Paying Agent in The City of New York, State of New York. 

SECTION 2.07    Transfer and Exchange. 

(a)    The transfer and exchange of beneficial interests in the Global Notes shall be effected through the Depositary, in
accordance with the provisions of the Base Indenture, this Supplemental Indenture and the then applicable procedures of the Depositary (the “Applicable Procedures”). In connection with all transfers and exchanges of beneficial interests,
the transferor of such beneficial interest must deliver to the Trustee either (A)(1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary 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 Procedures containing
information regarding the Participant account to be credited with such increase or, if Definitive Notes are at such time permitted to be issued pursuant to this Supplemental Indenture and the Base Indenture, (B)(1) a written order from a Participant
or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged and
(2) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1) above. Upon satisfaction of
all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in the Base Indenture, this Supplemental Indenture and the Notes, the Registrar shall adjust the principal amount of the relevant Global Notes
pursuant to Section 2.08 hereof. 
 (b)    Upon written request by a Holder of Definitive Notes and such
Holder’s compliance with the provisions of this Section 2.07(b), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder shall present or
surrender to the Trustee the Definitive 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. The Trustee shall
cancel any such Definitive Notes so surrendered, and the Company shall execute and, upon receipt of a Company Order pursuant to Section 3.03 of the Base Indenture, the Trustee shall authenticate and deliver to the Person designated in the
instructions a new Definitive Note in the appropriate principal amount. Any Definitive Note issued pursuant to this Section 2.07(b) shall be registered in such name or names and in such authorized denomination or denominations as the Holder of
such beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such Definitive Notes are so
registered. In addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to Section 3.06 of the Base Indenture. 

(c)    The Company and the Holders of Notes shall cooperate with the Trustee and shall provide the Trustee with reasonable
access to, and copies of, documents or information necessary for the Trustee to comply with any cost basis reporting obligations imposed on it by a governmental authority in connection with certain transfers or exchanges of Notes. 

SECTION 2.08    Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a
particular Global Note have been exchanged for Definitive Notes or a 

  
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particular Global Note has been redeemed, repurchased or cancelled in whole and not in part, each such Global Note shall be returned to or retained and cancelled by the Trustee in accordance with
Section 3.09 of the Base Indenture. 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 Definitive Notes, the principal amount of Securities 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 Depositary 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 Registrar or by the Depositary at the direction of the Registrar to reflect such increase. 

ARTICLE III 
 REDEMPTION
OF THE NOTES 
 SECTION 3.01    Optional Redemption by Company of the 2028 Notes. 

(a)    The Company may redeem the 2028 Notes at any time prior to the 2028 Par Call Date in whole, or from time to time in
part, at a redemption price equal to the greater of: 
 (i)    100% of the principal amount of the Notes to be redeemed;
and 
 (ii)    the sum of the present values of the remaining scheduled payments of principal and interest on the 2028
Notes to be redeemed that would have been payable if the 2028 Notes being redeemed matured on the 2028 Par Call Date (exclusive of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield, plus 15 basis points, plus accrued and unpaid interest thereon to, but not including, the
Redemption Date; provided, however, that at any time on or after the 2028 Par Call Date, the Company may redeem the 2028 Notes, at its option, in whole, or from time to time in part, at a redemption price equal to 100% of the principal amount
of the 2028 Notes to be redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date. 

(b)    Notwithstanding subsection (a) above, installments of interest on the 2028 Notes that are due and payable on
any Interest Payment Date falling on or prior to a Redemption Date shall be payable on such Interest Payment Date to the registered Holders as of the close of business on the relevant Regular Record Date according to the terms of the 2028 Notes and
the Indenture. Unless the Company defaults in payment of the amount payable on redemption, on and after the Redemption Date, interest shall cease to accrue on the 2028 Notes or portions thereof that are called for redemption. 

(c)    The 2028 Notes called for redemption become due on the Redemption Date. Notices of redemption shall be mailed by
first-class mail at least fifteen (15) but not more than sixty (60) days before such Redemption Date to each Holder of the Notes to be redeemed at its registered address (with a copy to the Trustee). At the Company’s request, the
Trustee shall give the notice of redemption in the Company’s name and at its expense; provided, however, that the Company shall have delivered to the Trustee, at least five days prior to the date on which the Company is requesting
that the Trustee deliver such notice, an Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice. The Company shall calculate the amount payable on redemption and shall
deliver an Officer’s Certificate to the Trustee setting forth the amount payable on redemption no later than two (2) Business Days prior to the Redemption Date. 

  
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 (d)    If less than all the 2028 Notes are to be redeemed at any time,
the Notes to be redeemed shall be selected by lot by DTC, in the case of Global Notes, or by the Trustee by a method the Trustee deems to be fair and appropriate, in the case of 2028 Notes that are not represented by a 2028 Global Note. No 2028
Notes of $2,000 in principal amount or less shall be redeemed in part. If any 2028 Note is to be redeemed in part only, the notice of redemption relating to such Note will state the portion of the principal amount to be redeemed. A new 2028 Note in
principal amount equal to the unredeemed portion will be issued upon cancellation of the original 2028 Note. 
 SECTION
3.02    Optional Redemption by Company of the 2031 Notes 
 (a)    The Company may redeem the
2031 Notes at any time prior to the 2031 Par Call Date in whole, or from time to time in part, at a redemption price equal to the greater of: 

(i)    100% of the principal amount of the 2031 Notes to be redeemed; and 

(ii)    the sum of the present values of the remaining scheduled payments of principal and interest on the 2031 Notes to
be redeemed that would have been payable if the 2031 Notes being redeemed matured on the 2031 Par Call Date (exclusive of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield, plus 20 basis points, plus accrued and unpaid interest thereon to, but not including, the
Redemption Date; provided, however, that at any time on or after the 2031 Par Call Date, the Company may redeem the 2031 Notes, at its option, in whole, or from time to time in part, at a redemption price equal to 100% of the principal amount
of the 2031 Notes to be redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date. 

(b)    Notwithstanding subsection (a) above, installments of interest on the 2031 Notes that are due and payable on
any Interest Payment Date falling on or prior to a Redemption Date shall be payable on such Interest Payment Date to the registered Holders as of the close of business on the relevant Regular Record Date according to the terms of the 2031 Notes and
the Indenture. Unless the Company defaults in payment of the amount payable on redemption, on and after the Redemption Date, interest shall cease to accrue on the 2031 Notes or portions thereof that are called for redemption. 

(c)    The 2031 Notes called for redemption become due on the Redemption Date. Notices of redemption shall be mailed by
first-class mail at least fifteen (15) but not more than sixty (60) days before such Redemption Date to each Holder of the 2031 Notes to be redeemed at its registered address (with a copy to the Trustee). At the Company’s request, the
Trustee shall give the notice of redemption in the Company’s name and at its expense; provided, however, that the Company shall have delivered to the Trustee, at least five days prior to the date on which the Company is requesting
that the Trustee deliver such notice, an Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice. The Company shall calculate the amount payable on redemption and shall
deliver an Officer’s Certificate to the Trustee setting forth the amount payable on redemption no later than two (2) Business Days prior to the Redemption Date. 

  
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 (d)    If less than all the 2031 Notes are to be redeemed at any time,
the 2031 Notes to be redeemed shall be selected by lot by DTC, in the case of Global Notes, or by the Trustee by a method the Trustee deems to be fair and appropriate, in the case of 2031 Notes that are not represented by a 2031 Global Note. No 2031
Notes of $2,000 in principal amount or less shall be redeemed in part. If any 2031 Note is to be redeemed in part only, the notice of redemption relating to such 2031 Note will state the portion of the principal amount to be redeemed. A new 2031
Note in principal amount equal to the unredeemed portion will be issued upon cancellation of the original 2031 Note. 
 ARTICLE IV

 CHANGE OF CONTROL 

SECTION 4.01    Repurchase at the Option of Holders Upon Change of Control Repurchase Event. 

(a)    If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to redeem the Notes
pursuant to Section 3.01 or 3.02 of this Supplemental Indenture, as applicable, the Company shall be required to make an offer to each Holder of the Notes to repurchase all or any part (in minimum denominations of $2,000 and in integral
multiples of $1,000 in excess thereof) of that Holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of the Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to,
but not including, the date of repurchase; provided that after giving effect to the purchase, any Notes that remain outstanding shall have a denomination of $2,000 and integral multiples of $1,000 in excess thereof. 

(b)    Within thirty (30) days following any Change of Control Repurchase Event or, at the option of the Company,
prior to any Change of Control, but after the public announcement of the transaction that constitutes or may constitute the Change of Control, the Company shall mail a notice (a “Change of Control Offer”) to each Holder, with a copy to the
Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase the Notes on the payment date specified in the notice, which date shall be no earlier than thirty
(30) days and no later than sixty (60) days from the date such notice is mailed. The notice shall, if mailed prior to the date of consummation of the Change of Control, state that the Change of Control Offer is conditioned on a Change of
Control Repurchase Event occurring on or prior to the payment date specified in the notice. 
 (c)    The Company shall
comply with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the
repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Notes, the Company shall
comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the Notes or the Indenture by virtue of such conflict. 

(d)    On the repurchase date following a Change of Control Repurchase Event, the Company shall, to the extent lawful:

 (i)    accept for payment all the Notes or portions of the Notes (in minimum denominations of $2,000 and in integral
multiples of $1,000 in excess thereof) properly tendered pursuant to the applicable Change of Control Offer; 

  
 16 

 (ii)    deposit with the Paying Agent an amount equal to the aggregate
purchase price in respect of all the Notes or portions of the Notes properly tendered pursuant to the applicable Change of Control Offer; and 

(iii)    deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an Officer’s
Certificate stating the aggregate principal amount of Notes being purchased by the Company. 
 (e)    The Trustee shall
promptly mail, or cause the Paying Agent to promptly mail, to each Holder of Notes properly tendered, the purchase price for the Notes, and the Trustee shall promptly, upon the receipt of a Company Order, 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 any Notes surrendered; provided, that each new Note shall be in a minimum principal amount of $2,000 or an integral multiple of
$1,000 in excess thereof. 
 (f)    The Company shall not be required to make a Change of Control Offer upon a Change of
Control Repurchase Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn
under its offer. 
 (g)    If Holders of not less than 95% in aggregate principal amount of the Outstanding Notes of a
series validly tender and do not withdraw such Notes in a Change of Control Offer and the Company, or any third party making a Change of Control Offer in lieu of the Company, as described in Section 4.01(f) of this Supplemental Indenture,
purchases all of the Notes validly tendered and not withdrawn by such Holders, the Company will have the right, upon not less than fifteen (15) nor more than sixty (60) days’ prior notice, given not more than thirty (30) days
following such purchase pursuant to the Change of Control Offer described in this Section 4.01, to redeem all Notes of that series that remain Outstanding following such purchase at a redemption price in cash equal to 101% of the principal
amount thereof, plus accrued and unpaid interest, if any, to the date of redemption. 
 ARTICLE V 

COVENANTS 
 SECTION
5.01    Limitation on Liens. 
 (a)    The Company shall not, and shall not permit any of its
Domestic Subsidiaries to, create, incur, assume or permit to exist any Lien on (a) any Principal Property or (b) the Capital Stock of any Subsidiary of the Company, in each case to secure Indebtedness of the Company, any Subsidiary of the
Company or any other Person, unless prior to or at the same time, the Notes (together with, at the option of the Company, any other Indebtedness of the Company or any Subsidiary ranking equally in right of payment with the Notes) are equally and
ratably secured with or, at the option of the Company, prior to, such Indebtedness. Any Lien created for the benefit of the Holders of the Notes pursuant to this Section 5.01(a) shall provide by its terms that such Lien shall be automatically
and unconditionally released and discharged upon the release and discharge of such Lien that gave rise to the obligation to secure the Notes under this Section 5.01(a). 

(b)    The restrictions set forth in Section 5.01(a) shall not apply, with respect to any Person, to any of the
following: 
 (i)    any Lien existing on the Issue Date; 

  
 17 

 (ii)    any Lien arising by reason of: 

(1)    any judgment, decree or order of any court, so long as such Lien is adequately bonded or with
respect to which adequate reserves or other appropriate provisions are being maintained in accordance with GAAP and any appropriate legal proceedings which may have been duly initiated for the review of such judgment, decree or order shall not have
been finally terminated or the period within which such proceedings may be initiated shall not have expired; 

(2)    taxes, governmental assessments or similar governmental charges or levies not yet delinquent or
which are being contested in good faith; 
 (3)    security for payment of workers’ compensation,
unemployment insurance and other governmental insurance or benefits and/or other insurance arrangements (including, without limitation, pledges or deposits securing liability under self-insurance general liability insurance programs); 

(4)    good faith deposits in connection with bids, tenders, statutory obligations, leases and contracts
(other than contracts for the payment of money); 
 (5)    zoning and other restrictions, charges or
encumbrances (whether or not recorded), easements (including, without limitation, reciprocal easement agreements and utility agreements), licenses, reservations, title defects, rights of others for rights of way, utilities, sewers, electric lines,
telephone or telegraph lines, and other similar purposes, provisions, covenants, consents, conditions, waivers, variations, encroachments, restrictions on the use of property or minor irregularities of title (and with respect to leasehold interests,
mortgages, obligations, liens and other encumbrances incurred, created assumed or permitted to exist and arising by, through or under a landlord or owner of the leased property, with or without consent of the lessee), none of which materially
impairs the use of any parcel of property material to the operation of the business of the Company or any of its Subsidiaries or the value of such property for the purpose of such business; 

(6)    deposits to secure public, statutory or similar obligations, or in lieu of surety or appeal bonds or
Liens incurred or deposits made as a result of progress payments under government contracts; 

(7)    Liens incurred or deposits made in connection with letters of credit issued in the ordinary course
of business; or 
 (8)    operation of law in favor of mechanics, carriers, warehousemen, landlords,
materialmen, laborers, employees, suppliers or other similar Persons, incurred in the ordinary course of business for sums which are not yet delinquent or are being contested in good faith by negotiations or by appropriate proceedings which suspend
the collection thereof; 
 (iii)    any Lien to secure the performance bids, trade contracts, leases (including, without
limitation, statutory and common law landlord’s liens), statutory obligations, surety and appeal bonds, letters of credit and other obligations of a like nature and incurred in the ordinary course of business of the Company or any of its
Subsidiaries; 
 (iv)    Liens securing Indebtedness Incurred to finance the construction, purchase or lease of, or
repairs, improvements or additions to, property, plant or equipment of 

  
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such Person; provided, however, that the Lien may not extend to any other property owned by such Person at the time the Lien is incurred (other than improvements, installments,
repairs, developments, renewals, replacements, additions, accessions, assets and property affixed or appurtenant thereto), and the Indebtedness (other than any interest thereon) secured by the Lien may not be Incurred more than 270 days after the
later of the acquisition, completion of construction, lease, installation, development, repair, improvement, addition or commencement of full operation of the property subject to the Lien; 

(v)    Liens on property or shares of Capital Stock of another Person at the time such other Person becomes a Subsidiary
of such Person; provided, however, that the Liens may not extend to any other property owned by such Person (other than assets and property affixed or appurtenant thereto); 

(vi)    Liens on property or assets of any Person or any of its Subsidiaries that is acquired by the Company or any of its
Subsidiaries, including any acquisition by means of a merger or consolidation with or into the Company or a Subsidiary of the Company; provided, however, that the Liens may not extend to any other property owned by the Company or any
of its other Subsidiaries (other than assets and property affixed or appurtenant thereto); 
 (vii)    Liens in favor of
the Company or any of its Subsidiaries, including Liens securing Indebtedness of a Subsidiary owing to the Company or any other Subsidiary; 

(viii)    any Lien securing any Vehicle Inventory Indebtedness and/or Vehicle Receivables Indebtedness; 

(ix)    Liens securing Indebtedness under Mortgage Facilities in an aggregate principal amount not to exceed
$500.0 million at any one time outstanding; 
 (x)    Liens securing Indebtedness under Debt Facilities in an
aggregate principal amount not to exceed $2,300.0 million at any one time outstanding; 
 (xi)    Liens securing
Indebtedness under Interest Rate Agreements, Currency Agreements or Commodity Price Protection Agreements or otherwise Incurred to hedge interest rate risk or currency or commodity pricing risk; 

(xii)    Liens to secure any refinancing (or successive refinancings) as a whole, or in part, of any Indebtedness secured
by any Lien referred to in the foregoing clauses (i), (iv), (v), (vi) or (xi); provided, however, that: (a) such new Lien shall be limited to all or part of the same property and assets that secured or, under the written
agreements pursuant to which the original Lien arose, could secure the original Lien (plus improvements and accessions to, such property or proceeds or distributions thereof); and (b) the Indebtedness secured by such Lien at such time is not
increased to any amount greater than the sum of (x) the outstanding principal amount or, if greater, committed amount of the Indebtedness described in clauses (i), (iv), (v), (vi) or (xi) at the time the original Lien became a Lien
permitted under the Indenture and (y) an amount necessary to pay any fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement; and 

(xiii)    Liens on assets subject to a Sale and Leaseback Transaction securing Attributable Debt permitted to be Incurred
pursuant to Section 5.02 of this Supplemental Indenture. 
 (c)    Notwithstanding the restrictions contained in
subsections (a) and (b) of this Section 5.01, the Company and its Subsidiaries shall be permitted to Incur Indebtedness secured 

  
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by a Lien which would otherwise be subject to the restrictions contained in subsections (a) and (b) of this Section 5.01 without equally and ratably securing the Notes, if any;
provided that, after giving effect to such Indebtedness, the aggregate amount of all Indebtedness secured by Liens (not including Liens permitted under clauses (i) through (xiii) of Section 5.01(b)), together with all Attributable
Debt outstanding pursuant to Section 5.02(b), does not exceed 15% of the Consolidated Net Tangible Assets of the Company calculated as of the date of the creation or incurrence of the Lien. The Company and its Subsidiaries also may, without
equally and ratably securing the Notes, create or incur Liens that extend, renew, substitute or replace (including successive extensions, renewals, substitutions or replacements), in whole or in part, any Lien permitted pursuant to the preceding
sentence. 
 SECTION 5.02    Limitations on Sale and Leaseback Transactions. 

(a)    The Company shall not, and shall not permit any of its Domestic Subsidiaries to, directly or indirectly, enter into
any Sale and Leaseback Transaction, unless: 
 (i)    such transaction with respect to a Principal Property if a binding
commitment with respect thereto is entered into within one year after the later of (x) the Issue Date or (y) the date such Principal Property was acquired; 

(ii)    the Sale and Leaseback Transaction is solely with the Company or any of its Domestic Subsidiaries; 

(iii)    the lease is for a period not in excess of 36 months, including renewals; 

(iv)    the Company would (at the time of entering into such arrangement) be entitled to Incur Indebtedness secured by a
Lien with respect to such Sale and Leaseback Transaction, without equally and ratably securing the Notes then Outstanding under the Indenture, pursuant to Section 5.01(c) of this Supplemental Indenture; or 

(v)    leases where the proceeds from the sale of the subject Principal Property are at least equal to the fair market
value (as determined in good faith by the Company) of the subject Principal Property and the Company applies an amount equal to the net proceeds from the sale of such Principal Property to the purchase of other property or assets used or useful in
its business or to the retirement of long-term Indebtedness within 365 days of the effective date of any such Sale and Leaseback Transaction; provided that, in lieu of applying such amount to the retirement of long-term Indebtedness, the
Company may deliver Notes to the Trustee for cancellation. 
 (b)    Notwithstanding the restrictions set forth in
subsection (a) of this Section 5.02, the Company and its Subsidiaries may enter into any Sale and Leaseback Transaction which would otherwise be subject to such restrictions, if after giving effect thereto the aggregate amount of all
Attributable Debt with respect to such transactions, together with all Indebtedness outstanding pursuant to Section 5.01(c) of this Supplemental Indenture, does not exceed 15% of the Consolidated Net Tangible Assets of the Company calculated as
of the closing date of the Sale and Leaseback Transaction. 
 SECTION 5.03    Limitation on Issuances of Guarantees
of Indebtedness. 
 (a)    The Company shall not cause or permit any Domestic Subsidiary (which is not a Guarantor),
directly or indirectly, to guarantee, assume or in any other manner become liable with respect to any Indebtedness of the Company or any Domestic Subsidiary unless such Domestic Subsidiary simultaneously executes and delivers a supplemental
indenture to the Indenture 

  
 20 

 
providing for a Subsidiary Guarantee of the Notes on the same terms as the guarantee of such Indebtedness except that (A) such guarantee need not be secured unless required pursuant to
Section 5.01 of this Supplemental Indenture and (B) if such Indebtedness is by its terms expressly subordinated to the Notes, any such assumption, guarantee or other liability of such Domestic Subsidiary with respect to such Indebtedness
shall be subordinated to such Domestic Subsidiary’s Subsidiary Guarantee of the Notes at least to the same extent as such Indebtedness is subordinated to the Notes; provided that (i) so long as any of the Existing Pre-2020 Senior Notes have not been retired, Discharged or defeased in accordance with Article XII of the Base Indenture or satisfied and discharged or defeased in accordance with the applicable supplemental
indenture setting forth the terms of such Existing Pre-2020 Senior Notes, no such Subsidiary Guarantee will be required if the debt guaranteed by such Domestic Subsidiary does not exceed $75,000,000 and
(ii) at any time after all of the Existing Pre-2020 Senior Notes have been retired, Discharged or defeased in accordance with Article XII of the Base Indenture or satisfied and discharged or defeased in
accordance with the applicable supplemental indenture setting forth the terms of such Existing Pre-2020 Senior Notes, no such Subsidiary Guarantee will be required until and unless such Domestic
Subsidiary becomes a guarantor under the Credit Agreement, and, in the case of this Section 5.03(a)(ii), such Domestic Subsidiary shall Guarantee the Notes for so long as such Domestic Subsidiary is a Guarantor under the Credit Agreement.

 The obligation to provide Subsidiary Guarantees set forth in the preceding paragraph will not be applicable to any Guarantees of any
Domestic Subsidiary given to a bank or trust company or any commercial banking institution that is a member of the U.S. Federal Reserve System (or any branch, Subsidiary or Affiliate thereof), in connection with the operation of cash management
programs established for its benefit or that of any other Domestic Subsidiary. 
 (b)    The Company shall cause any
Domestic Subsidiary, whether presently existing or hereafter formed or acquired, that is required to provide a Subsidiary Guarantee pursuant to Section 5.03(a) to execute a supplemental indenture substantially in the form of
Exhibit C hereto. 
 (c)    Notwithstanding subsection (a) of this Section 5.03, any Subsidiary
Guarantee by a Domestic Subsidiary of the Notes shall provide by its terms that it (and all Liens securing the same) shall be automatically and unconditionally released and discharged upon (i) any sale, exchange or transfer, to any Person not
an Affiliate of the Company, of all of the Company’s Capital Stock in, or all or substantially all the assets of, such Domestic Subsidiary, which transaction is in compliance with the terms of the Indenture, and such Domestic Subsidiary is
released from all Guarantees, if any, by it of other Indebtedness of the Company or any Domestic Subsidiary, (ii) the release by the holders of the applicable Indebtedness of the Company described in subsection (a) of this
Section 5.03 of their Guarantee by such Domestic Subsidiary (including any deemed release upon payment in full of all obligations under such Indebtedness), at such time as (A) no other Indebtedness of the Company has been guaranteed by
such Domestic Subsidiary or (B) the holders of all such other Indebtedness which is guaranteed by such Domestic Subsidiary also release their Guarantee by such Domestic Subsidiary (including any deemed release upon payment in full of all
obligations under such Indebtedness), (iii) so long as any of the Existing Pre-2020 Senior Notes have not been retired, Discharged or defeased in accordance with Article XII of the Base Indenture or satisfied
and discharged or defeased in accordance with the applicable supplemental indenture setting forth the terms of such Existing Pre-2020 Senior Notes, such Domestic Subsidiary ceasing to guarantee the
Company’s Credit Agreement or any Existing Pre-2020 Senior Notes and such Domestic Subsidiary ceasing to guarantee any Indebtedness of the Company or any other Domestic Subsidiary in an amount exceeding
$75,000,000 (other than the Notes) or (iv) at any time after all of the Existing Pre-2020 

  
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Senior Notes have been retired, Discharged or defeased in accordance with Article XII of the Base Indenture or satisfied and discharged or defeased in accordance with the applicable supplemental
indenture setting forth the terms of such Existing Pre-2020 Senior Notes, such Domestic Subsidiary ceasing to guarantee the Company’s Credit Agreement. 

SECTION 5.04    Merger, Consolidation or Sale of Assets. 

(a)    The Company shall not, in a single transaction or through a series of related transactions, consolidate or merge
with or into any other Person, or, directly or indirectly, sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets to another Person, or permit any Person to merge with or into it, unless:

 (i)    the Company is the continuing Person or the successor Person formed by or surviving any such consolidation or
merger (if other than the Company) or to which such sale, assignment, transfer, lease or conveyance or other disposition has been made is a corporation organized and existing under the laws of the United States of America, any State thereof or the
District of Columbia; 
 (ii)    the Person formed by or surviving any such consolidation or merger (if other than the
Company) or the Person to which such sale, assignment, transfer, lease, conveyance or other disposition has been made assumes all the obligations of the Company under the Indenture, including payment of the principal of and interest on the Notes,
and the performance and observance of all of the covenants and conditions of the Indenture to be performed by the Company, by a supplemental indenture, executed and delivered to the Trustee; 

(iii)    immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be
continuing; and 
 (iv)    at the time of such transaction, the Company or the surviving Person shall have delivered, or
caused to be delivered, to the Trustee, in form and substance reasonably satisfactory to the Trustee, an Officer’s Certificate and an Opinion of Counsel, each to the effect that such consolidation, merger, sale, assignment, transfer, lease or
conveyance or other transaction and the supplemental indenture in respect thereof comply with the Indenture and that all conditions precedent therein provided for relating to such transaction have been complied with. 

In the event of any transaction (other than a lease) described in and complying with the conditions listed in the immediately preceding
paragraph in which the Company is not the continuing corporation, the successor Person formed or remaining or to which such transfer is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company and the
Company will be discharged from all obligations and covenants under the Indenture and the Notes. 
 SECTION
5.05    Compliance Certificate. The Company shall furnish, so long as any of the Notes are Outstanding, to the Trustee annually, within 120 days after the end of each fiscal year in which the Notes are Outstanding, a
certificate from the principal executive officer, principal financial officer or principal accounting officer as to his or her knowledge of the Company’s compliance with all conditions and covenants under the Indenture (which compliance shall
be determined without regard to any period of grace or requirement of notice provided under the Indenture). The Company shall, so long as any of the Notes are Outstanding, also deliver to the Trustee, as soon as possible, but in no event later than
five (5) Business Days after the principal executive officer, principal financial officer or principal accounting officer becomes aware of any Default or Event of Default, a certificate specifying such Default or Event of Default. Such
certificates need not comply with Section 16.01 of the Base Indenture. 

  
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 ARTICLE VI 

DEFAULTS AND REMEDIES 

SECTION 6.01    Events of Default. 

(a)    In addition to those specified in Section 7.01 of the Base Indenture (which, for the avoidance of doubt, shall
apply to each series of Notes individually), each of the following is an “Event of Default” with respect to the Notes of each series: 

(i)    failure by the Company to comply with the provisions of Section 4.01 or Section 5.04 of this Supplemental
Indenture; 
 (ii)    default under any Indebtedness of the Company or any of its Subsidiaries having an aggregate
amount of at least $100.0 million constituting a default either (a) of payment of principal when due and payable (whether at scheduled maturity, upon acceleration, redemption or otherwise) or (b) which results in acceleration of the
Indebtedness, and in each case after the Company has received written notice (with a copy to the Trustee if sent by the Holders) of the default from the Trustee or from the Holders of at least 25% of the aggregate principal amount of Notes of such
series then Outstanding and thereafter do not cure the default within 30 days; 
 (iii)    failure by the Company or any
of its Subsidiaries to pay final judgments aggregating in excess of $100.0 million above available insurance coverage or indemnity coverage, which judgments are not paid, discharged or stayed for a period of 60 days; and 

(iv)    except as permitted by the Indenture, any Subsidiary Guarantee of a Significant Subsidiary of the Company is held
in any judicial proceeding to be unenforceable or invalid. 
 (b)    Clause (c) of Section 7.01 of the Base
Indenture shall not apply to the Notes of either series. 
 (c)    Clauses (d), (e) and (f) of Section 7.01 of
the Base Indenture are deleted and replaced in their entirety by the following: 
 “(d)    failure by the Company
to comply with any of the agreements contained in the Indenture or the Notes of such series (other than an agreement, a default in the performance of which is specifically handled elsewhere in this Section 6.01(a) or Section 7.01 of the
Base Indenture) for 30 days after written notice is received by the Company from the Trustee or by the Company and the Trustee from the Holders of at least 25% of the aggregate principal amount of Notes of such series then Outstanding specifying the
default (and demanding that such default be remedied);” 
 “(e)    there shall have been the entry by a court
of competent jurisdiction of (a) a decree or order for relief in respect of the Company or any of its Significant Subsidiaries in an involuntary case or proceeding under any applicable Bankruptcy Law or (b) a decree or order adjudging the
Company or any of its Significant Subsidiaries bankrupt or insolvent, or seeking reorganization, arrangement, adjustment or composition of or in respect of the Company or any of its Significant Subsidiaries under any applicable federal or state law,
or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or 

  
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any of its Significant Subsidiaries or of any substantial party of their respective properties, or ordering the winding up or liquidation of their affairs, and any such decree or order for relief
shall continue to be in effect, or any such other decree or order shall be unstayed and in effect, for a period of 60 consecutive days;” 

“(f)     (i) the Company or any of its Significant Subsidiaries commences a voluntary case or proceeding under any
applicable Bankruptcy Law or any other case or proceeding to be adjudicated bankrupt or insolvent, 
 (ii)     the
Company or any of its Significant Subsidiaries consents to the entry of a decree or order for relief in respect of the Company or such Significant Subsidiary in an involuntary case or proceeding under any applicable Bankruptcy Law or to the
commencement of any bankruptcy or insolvency case or proceeding against it, 
 (iii)     the Company or any of its
Significant Subsidiaries files a petition or answer or consent seeking reorganization or relief under any applicable federal or state law, 

(iv)     the Company or any of its Significant Subsidiaries (1) consents to the filing of such petition or the
appointment of, or taking possession by, a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of the Company or such Significant Subsidiary or of any substantial part of their respective properties, (2) makes
an assignment for the benefit of creditors or (3) admits in writing its inability to pay its debts generally as they become due, or 

(v)     the Company or any of its Significant Subsidiaries takes any corporate action in furtherance of any such actions
described in this clause (f);” 
 ARTICLE VII 

DEFEASANCE AND COVENANT DEFEASANCE; DISCHARGE 

SECTION 7.01    Option to Effect Legal Defeasance or Covenant Defeasance. The Company may, at the option of its
Board of Directors evidenced by a resolution set forth in an Officer’s Certificate, at any time, elect to have either Section 7.02 or 7.03 of this Supplemental Indenture be applied to all Outstanding Notes of such series and any Subsidiary
Guarantees upon compliance with the conditions set forth below in this Article VII. 
 SECTION 7.02    Defeasance and
Discharge. Upon the Company’s exercise under Section 7.01 of the option applicable to this Section 7.02 with respect to the Notes of either series, the Company shall, subject to the satisfaction of the conditions set forth in
Section 7.04, be deemed to have been discharged from its obligations with respect to all Outstanding Notes of such series and any Subsidiary Guarantees on the date the conditions set forth below are satisfied (hereinafter,
“Defeasance”). For this purpose, Defeasance means that the Company, a Guarantor, if applicable, and any other obligor under the Indenture shall be deemed to have paid and discharged the entire Indebtedness represented by the Outstanding
Notes of such series being defeased, which shall thereafter be deemed to be “Outstanding” only for the purposes of Section 7.05 and the other Sections of the Indenture referred to in (a) and (b) below, and to have satisfied all
its other obligations under such Notes of such series and the Indenture (and the Trustee, on written demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which
shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of such Outstanding Notes of such series to receive, solely from the trust fund described in Section 7.04, and as more fully set forth in such
Section 7.04, payments in respect of the principal of, premium, if any, and 

  
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interest on such Notes when such payments are due, (b) the Company’s obligations with respect to such Notes of such series under Article II of the Supplemental Indenture and Article III
and Section 6.02 of the Base Indenture, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Company’s obligations in connection therewith and (d) this Article VII. Subject to compliance with
this Article VII, the Company may exercise its option under this Section 7.02 notwithstanding the prior exercise of its option under Section 7.03. 

SECTION 7.03    Covenant Defeasance. Upon the Company’s exercise under Section 7.01 hereof of the option
applicable to this Section 7.03 with respect to the Notes of either series, the Company and any Guarantor shall, subject to the satisfaction of the conditions set forth in Section 7.04 hereof, be released from their obligations under the
covenants contained in Sections 4.01, 5.01, 5.02, 5.03, 5.04 and 5.05 of this Supplemental Indenture with respect to the Outstanding Notes of such series, and the Events of Default set forth in Sections 6.01(a)(i), 6.01(a)(ii), 6.01(a)(iii) and
6.01(a)(iv) of this Supplemental Indenture shall cease to apply to the Notes of such series, in each case, on and after the date the conditions set forth in Section 7.04 are satisfied (hereinafter, “Covenant Defeasance”), and the
Notes of such series shall thereafter be deemed not “Outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall
continue to be deemed “Outstanding” for all other purposes hereunder (it being understood that the Notes of such series shall not be deemed Outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with
respect to the Outstanding Notes of such series, the Company and any Guarantor may omit 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 of this Supplemental Indenture or Section 7.01 of the Base Indenture with respect to the Notes of such series, but, except as specified above, the remainder of the Indenture and such Notes of such series shall be
unaffected thereby. 
 SECTION 7.04    Conditions to Defeasance or Covenant Defeasance. The following shall be
the conditions to the application of either Section 7.02 or 7.03 of this Supplemental Indenture to the Outstanding Notes of such series: 

(a)    the Company must irrevocably deposit or cause to be deposited with the Trustee, in trust, for the benefit of the
Holders of such Notes of such series, cash in United States 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 or a
nationally recognized investment banking firm, to pay and discharge the principal of, premium, if any, and interest on such Outstanding Notes of such series on the applicable Stated Maturity; 

(b)    in the case of an election under Section 7.02 of this Supplemental Indenture, the Company shall have delivered
to the Trustee an Opinion of Counsel from independent counsel in the United States stating that (A) the Company 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 U.S. federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel from independent counsel in the United States shall confirm that, the beneficial owners of such Outstanding
Notes of such series will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such Defeasance had not occurred; 

  
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 (c)    in the case of an election under Section 7.03 of this
Supplemental Indenture, the Company shall have delivered to the Trustee an Opinion of Counsel from independent counsel in the United States to the effect that the beneficial owners of such Outstanding Notes will not recognize income, gain or loss
for U.S. federal income tax purposes as a result of such Covenant Defeasance and will be subject to U.S. 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; 
 (d)    no Default or Event of Default shall have occurred and be continuing with respect to such Notes of
such series either (a) on the date of such deposit (other than a Default or Event of Default solely resulting from the borrowing of funds to be applied to such deposit); or (b) insofar as clauses (e) and (f) of Section 7.01 of
the Base Indenture (as amended pursuant to Section 6.01(c) of this Supplemental Indenture) are concerned, at any time during the period ending on the 91st day after the date of deposit; 

(e)    such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a Default under,
the Indenture or any other material agreement or instrument (other than, to the extent set forth in clause (d) above, the Indenture) to which the Company or any Guarantor is a party or by which it is bound; 

(f)    such Defeasance or Covenant Defeasance shall not result in the trust arising from such deposit constituting an
investment company within the meaning of the Investment Company Act of 1940, as amended, unless such trust shall be registered under such Act or exempt from registration thereunder; 

(g)    the Company shall have delivered to the Trustee an Opinion of Counsel from independent counsel in the United States
to the effect that after the 91st day following the date of deposit, the trust funds will not be subject to the effect of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally; 

(h)    the Company shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made
by the Company with the intent of preferring the Trustee, Holders of such Notes of such series or any Subsidiary Guarantee over the other creditors of the Company or any Guarantor with the intent of defeating, hindering, delaying or defrauding
creditors of the Company or any Guarantor or others; and 
 (i)    the Company shall have delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel from independent counsel in the United States, each stating that all conditions precedent relating to either the Defeasance or the Covenant Defeasance, as the case may be, have been complied with.

 SECTION 7.05    Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous
Provisions. 
 Subject to Section 7.06 of this Supplemental Indenture, all money and U.S. Government Obligations (including the
proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 7.05, the “Trustee”) pursuant to Section 7.04 of this Supplemental Indenture in respect of the Outstanding Notes
of such series being defeased shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes of such series and the Indenture, to the payment, either directly or through any Paying Agent (including the Company
acting as Paying Agent) to the Holders of such Notes of such series of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent
required by law. 

  
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 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or U.S. Government Obligations deposited pursuant to Section 7.04 of this Supplemental Indenture or the principal 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 of such series being defeased. 
 Anything in this Article VII to the contrary
notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon the written request of the Company any money or U.S. Government Obligations held by it as provided in Section 7.04 of this Supplemental Indenture which, in
the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 7.04(a) of this Supplemental Indenture), are
in excess of the amount thereof that would then be required to be deposited to effect an equivalent Defeasance or Covenant Defeasance. 

SECTION 7.06    Repayment to the Company. Subject to applicable laws relating to abandoned property, 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, premium, if any, or interest on any Note 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 its written request or (if then held by the Company) shall be discharged from such trust; and the Holder of such Note shall thereafter, as a secured 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. 

SECTION 7.07    Reinstatement. If the Trustee or Paying Agent is unable to apply any United States dollars or U.S.
Government Obligations in accordance with Section 7.02 or 7.03 of this Supplemental Indenture, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, then the Company’s obligations under the Indenture and the Notes theretofore defeased shall be revived and reinstated as though no deposit had occurred pursuant to Section 7.02 or 7.03 of this Supplemental Indenture until such
time as the Trustee or Paying Agent is permitted to apply all such money in accordance with such Section 7.02 or 7.03, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium, if any,
or interest on any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

SECTION 7.08    Discharge. The Indenture will be discharged and will cease to be of further effect (except as to
surviving rights of registration of transfer or exchange of the Notes as expressly provided for in the Indenture) and the Trustee, at the expense and written direction of the Company, will execute proper instruments acknowledging satisfaction and
discharge of the Indenture as to all Outstanding Notes of such series under the Indenture when: 
 (a)    either: 

(i)    all such Notes of such series theretofore authenticated and delivered (except lost, stolen or destroyed Notes
which have been replaced or paid or Notes whose payment has 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 for in the Indenture) have been
delivered to the Trustee for cancellation, or 

  
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 (ii)    all such Notes of such series not theretofore delivered to the
Trustee for cancellation (a) have become due and payable, (b) will become due and payable at their Stated Maturity within one year or (c) are to be called for redemption within one year under arrangements satisfactory to the Trustee
for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company; 
 (b)    the
Company or any Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust cash in United States dollars, U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient to pay
and discharge the entire Indebtedness on such Notes of such series not theretofore delivered to the Trustee for cancellation, including principal of, premium, if any, and accrued interest at such Maturity, Stated Maturity or Redemption Date; 

(c)    no Default or Event of Default shall have occurred and be continuing with respect to the Notes of such series on
the date of such deposit or shall occur as a result of such deposit, and such deposit will not result in a breach or violation of, or constitute a default under, any other material agreement to which the Company or any Guarantor is a party or by
which the Company or any Guarantor is bound; 
 (d)    the Company or any Guarantor has paid or caused to be paid all
sums payable under the Indenture by the Company or any Guarantor; 
 (e)    the Company has delivered irrevocable
instructions to the Trustee to apply such funds to the payment of the Notes of such series at Maturity or redemption, as the case may be; and 

(f)    the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel each stating that
all conditions precedent under the Indenture relating to the satisfaction and discharge of such Indenture with respect to the Notes of such series have been complied with. 

ARTICLE VIII 
 AMENDMENT,
SUPPLEMENT AND WAIVER 
 SECTION 8.01    Without Consent of Holders of Notes. Notwithstanding
Section 8.02 of this Supplemental Indenture, the Company and the Trustee may amend or supplement the Indenture or the Notes of either series without notice to or the consent of any Holder of a Note of such series: 

(1)     to cure any ambiguity, defect or inconsistency in the Indenture or the Notes of such series; 

(2)     to provide for uncertificated Notes of a series in addition to or in place of certificated Notes; 

(3)     to provide for the assumption of the Company’s obligations to Holders of Notes of such series in the case of
a merger or consolidation or sale of all or substantially all of the Company’s assets; 

  
 28 

 (4)     to make any change that, in the good faith opinion of the Board
of Directors of the Company, would provide any additional rights or benefits to the Holders of Notes of such series or that does not adversely affect the legal rights under the Indenture of any such Holder; 

(5)     to secure the Notes of such series or to add guarantors; 

(6)     to comply with the requirements of the SEC in order to effect or maintain the qualification of the Indenture under
the Trust Indenture Act; 
 (7)     to conform the text of the Indenture or the Notes of such series to any provision of
the “Description of the Notes” in the Prospectus Supplement to the extent that such provision in the “Description of the Notes” in the Prospectus Supplement was intended to be a verbatim recitation of the Indenture or such Notes;

 (8)     to remove a Guarantor which, in accordance with the terms of the Indenture, ceases to be liable in respect of
its Subsidiary Guarantee; 
 (9)     to add to the covenants of the Company or any Guarantor for the benefit of the
Holders of Notes of such series or to surrender any right or power conferred upon the Company or any Guarantor; 
 (10)
    to provide for the issuance of additional Notes of such series in accordance with the limitations set forth in the Indenture as of the Issue Date; 

(11)     to comply with the provisions of the DTC or the Trustee with respect to the provisions in the Indenture and the
Notes of such series relating to transfer and exchanges of such Notes or beneficial interests in such Notes; and 
 (12)
    evidence and provide for the acceptance of appointment by a successor trustee. 
 SECTION
8.02    With Consent of Holders of Notes. 
 Except as provided below in this Section 8.02, the Company and
the Trustee may amend or supplement the Indenture or the Notes of a series and/or any Subsidiary Guarantees may be amended or supplemented (including, without limitation, consents obtained in connection with a purchase of, tender offer or exchange
offer for, such Notes) of the Holders of at least a majority in aggregate principal amount of Outstanding Notes of such series; and, subject to Section 7.06 of the Base Indenture, any existing Default or Event of Default (other than a Default
or Event of Default in the payment of the principal of, premium, if any, or interest on such Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of the Indenture, such Notes or any
Subsidiary Guarantees may be waived with the consent of the Holders of a majority in principal amount of the then Outstanding Notes of such series (including consents obtained in connection with a purchase of, tender offer or exchange offer for,
such Notes). 
 Upon the written request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of
any such amended or supplemental Indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes of such series as aforesaid, and upon receipt by the Trustee of any document requested by
it pursuant to Section 11.01(e) of the Base Indenture, the Trustee shall join with the Company and any Guarantors in the execution of such amended or supplemental Indenture and to make any further appropriate agreements and stipulations that
may be therein contained, unless 

  
 29 

 
such amended or supplemental Indenture directly affects the Trustee’s own rights, duties or immunities under the Indenture or otherwise, in which case the Trustee may in its discretion, but
shall not be obligated to, enter into such amended or supplemental Indenture. 
 It shall not be necessary for the consent of the Holders of
Notes under this Section 8.02 to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 

After an amendment, supplement or waiver under this Section 8.02 becomes effective, the Company shall mail to the Holders of Notes
affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amended or supplemental
Indenture or waiver. 
 Subject to Section 7.06 of the Base Indenture, the Holders of a majority in aggregate principal amount of the
Notes of a series then Outstanding voting as a single class may waive compliance in a particular instance by the Company and/or any Guarantor with any provision of this Indenture or the Notes of such series and/or any Subsidiary Guarantee. However,
without the consent of each Holder affected, an amendment or waiver under this Section 8.02 may not (with respect to any Notes of such series held by a non-consenting Holder): 

(1)     reduce the principal amount of Notes of such series whose Holders must consent to an amendment, supplement or
waiver; 
 (2)     reduce the principal of or change the fixed maturity of any Note of such series or alter the
provisions with respect to the redemption of Notes of such series (other than provisions relating to the covenants set forth in Section 4.01 of this Supplemental Indenture); 

(3)     reduce the rate of interest on any Note of such series other than as expressly contemplated by the Indenture or
change the time for payment of interest on any Note of such series; 
 (4)     waive a Default or Event of Default in
the payment of principal of and interest on the Notes of such series (except a rescission of acceleration of the Notes of such series by the Holders of at least a majority in aggregate principal amount of the Outstanding Notes of such series and a
waiver of the payment default that resulted from such acceleration); 
 (5)     make any Note payable of such series in
money other than that stated in the Notes of such series; 
 (6)     make any change in the provisions of the Indenture
relating to waivers of past Defaults or the rights of Holders of Notes of such series to receive payments of principal of or interest on the Notes of such series; 

(7)     waive a redemption payment with respect to any Note of such series (other than a payment required by the covenant
set forth in Section 4.01 of this Supplemental Indenture); 
 (8)     make any change in the foregoing amendment
and waiver provisions; or 
 (9)     modify, without the written consent of the Trustee, the rights, duties or
immunities of the Trustee. 

  
 30 

 SECTION 8.03    Revocation and Effect of Consents. Until an
amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting
Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date
the waiver, supplement or amendment becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 

SECTION 8.04    Notation on or Exchange of Notes. The Trustee may place an appropriate notation about an amendment,
supplement or waiver on any affected Note thereafter authenticated. The Company in exchange for all affected Notes may issue and the Trustee shall, upon receipt of an authentication order, authenticate new Notes that reflect the amendment,
supplement or waiver. 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 8.05    Trustee to Sign Amendments, etc. The Trustee shall sign any amended or supplemental Indenture
authorized pursuant to this Article VIII if the amendment or supplement does not in the judgment of the Trustee adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amendment or supplemental
Indenture until its Board of Directors approves it. In executing any amended or supplemental indenture, the Trustee shall receive and (subject to Section 11.01 of the Base Indenture) shall be fully protected in conclusively relying upon an
Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental Indenture is authorized or permitted by this Indenture. 

ARTICLE IX 
 [RESERVED]

 ARTICLE X 

MISCELLANEOUS PROVISIONS 

SECTION 10.01    Ratification of Base Indenture. This Supplemental Indenture is executed and shall be construed as
an indenture supplemental to the Base Indenture, and as supplemented and modified hereby, the Base Indenture is in all respects ratified and confirmed, and the Base Indenture and this Supplemental Indenture shall be read, taken and construed as one
and the same instrument. 
 SECTION 10.02    Conflict with Trust Indenture Act. If any provision hereof limits,
qualifies or conflicts with another provision hereof, or with a provision of the Base Indenture, which is required to be included in this Supplemental Indenture, or in the Base Indenture, respectively, by any of the provisions of the Trust Indenture
Act, such required provision shall control to the extent it is applicable. 
 SECTION 10.03    Conflict with Base
Indenture. To the extent not previously amended or modified by this Supplemental Indenture, the Base Indenture shall remain in full force and effect. If any provision of this Supplemental Indenture relating to the Notes is inconsistent with any
provision of the Base Indenture, the provision of this Supplemental Indenture shall control. 

  
 31 

 SECTION 10.04    Effect of Headings. The Article and Section
headings herein are for convenience only and shall not affect the construction hereof. 
 SECTION 10.05    Successors
and Assigns. All covenants and agreements in this Supplemental Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 

SECTION 10.06    Separability Clause. In case any one or more of the provisions contained in this Supplemental
Indenture or in the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

SECTION 10.07    GOVERNING LAW. THIS SUPPLEMENTAL INDENTURE AND THE NOTES AND ANY SUBSIDIARY GUARANTEES SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 10.08    WAIVER OF JURY
TRIAL. THE COMPANY, ANY GUARANTOR AND THE TRUSTEE EACH HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT
OF OR RELATING TO THE INDENTURE, THE NOTES, ANY SUBSIDIARY GUARANTEES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 SECTION
10.09    Counterparts. This Supplemental Indenture may be executed in any number of counterparts, and each of such counterparts shall for all purposes be deemed to be an original, but all such counterparts shall together
constitute one and the same instrument. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties
hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. This Supplemental Indenture shall be valid,
binding, and enforceable against a party when executed and delivered by an authorized individual on behalf of the party by means of (i) an original manual signature, (ii) a faxed, scanned, or photocopied manual signature, or (iii) any
other electronic signature permitted by the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, including any relevant
provisions of the Uniform Commercial Code (collectively, “Signature Law”), in each case to the extent applicable. Each faxed, scanned, or photocopied manual signature, or other electronic signature, shall for all purposes have the same
validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any faxed, scanned, or photocopied manual signature,
or other electronic signature, of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity thereof. For the avoidance of doubt, original manual signatures shall be used for execution or
indorsement of writings when required under the Uniform Commercial Code or other Signature Law due to the character or intended character of the writings. 

[Signature page follows] 

  
 32 

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

					
	AUTONATION, INC.
		
	By:	 	 /s/ V. Mathew Giunta

		 	Name:	 	V. Mathew Giunta
		 	Title:	 	Authorized Signatory
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Corey J. Dahlstrand

		 	Name:	 	Corey J. Dahlstrand
		 	Title:	 	Corporate Trust Officer

 AFFIDAVIT OF OUT-OF-STATE EXECUTION 

STATE OF TEXAS 
 COUNTY OF DALLAS 

I hereby certify that on this 28th day of July, 2021, before me, an officer duly authorized in the County and State aforesaid to take
acknowledgments, personally appeared V. Mathew Giunta, Vice President, SSC of AutoNation, Inc., a Delaware corporation (the “Company”), who is personally known to me, who is known to me to be the person who executed the Supplemental
Indenture for the Senior Notes due 2031 and the Senior Notes due 2028, dated as of July 29, 2021, by and between the Company and Wells Fargo Bank, National Association, to which this Affidavit is attached, on behalf of the Company in Irving, Texas,
and who acknowledged before me that he executed the same. 
 Subscribed to and sworn before me this 28th day of July, 2021,

 By Kim Eaves. 

/s/ Kim
Eaves                  (signature of notary) 

Notary public, State of Texas, County of Dallas 

My commission expires July 13, 2024 

[NOTARY STAMP] 

 EXHIBIT A 

[GLOBAL NOTE LEGEND] 
 [IF A
GLOBAL NOTE, INSERT: THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE SUPPLEMENTAL INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY
CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAYBE REQUIRED PURSUANT TO SECTION 4.06 OF THE BASE INDENTURE, (II) THIS GLOBAL NOTE MAYBE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 4.06 OF THE BASE
INDENTURE, (III) THIS GLOBAL NOTE MAYBE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 3.09 OF THE BASE INDENTURE AND (IV) THIS GLOBAL NOTE MAYBE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE
COMPANY. 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
  

	*	 Legend to be included only for Global Notes 

  
 A-1 

 [FORM OF FACE OF NOTE] 

 

			
	No.        	  	$[        ]
		  	 CUSIP No. 05329W AR3

ISIN: US05329WAR34

 1.950% Senior Notes due 2028 

AutoNation, Inc., a Delaware corporation, promises to pay to [        ], or registered assigns, the
principal sum of [        ] Dollars ($[        ])[IF A GLOBAL NOTE, INSERT: , or such other amount as may be specified on the attached schedule reflecting increases and
decreased in the principal amount hereof,] on August 1, 2028, unless earlier redeemed or repurchased. 
 Interest Payment Dates:
February 1 and August 1, commencing February 1, 2022. 
 Record Dates: January 15 and July 15. 

Additional provisions of this Note are set forth on the other side of this Note. 

IN WITNESS HEREOF, the Company has caused this instrument to be duly executed 

Dated: 
  

			
	AUTONATION, INC.
		
	By:	 	
                     
                   

		 	Name:
		 	Title:

  
 A-2 

			
	Dated:
	
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
	
	as Trustee, certifies that this is one of the Global Notes referred to in the within mentioned Indenture.
		
	By:	 	
                    

		 	Authorized Signatory

  
 A-3 

 [FORM OF REVERSE SIDE OF NOTE] 

1.950% Senior Notes due 2028 

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

 

	1.	 Interest 

AutoNation, Inc. (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the
“Company”), promises to pay interest on the principal amount of this Note at the rate per annum shown above. The Company shall pay interest semi-annually in arrears on February 1 and August 1 of each year, or, if such date is not
a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”), commencing February 1, 2022.1 Interest on the Notes shall accrue from the most recent
Interest Payment Date to which interest has been paid or, if no interest has been paid, from July 29, 2021.2 The Company shall pay interest on overdue principal and premium, if any, and
interest on overdue installments of interest, to the extent lawful, at the interest rate for the Notes. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. 
  

	2.	 Method of Payment 

The Company shall pay interest on the Notes to the Persons who are registered Holders of Notes at the close of business on the January 15
or July 15 immediately preceding the relevant Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except with respect to defaulted interest. The Notes shall be payable as to
principal, premium and interest at the office or agency of the Company maintained for such purpose within or without the City and State of New York, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at
their addresses set forth in the register of Holders, and provided that payment by wire transfer of immediately available funds shall be required with respect to principal of and interest and premium on all Global Notes and all other Notes the
Holders of which shall have provided wire transfer instructions no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its judgment), to the Company or the Paying Agent. Such
payment shall be in such coin or currency of the United States of America at the time of payment is legal tender for payment of public and private debts. 
  

	3.	 Paying Agent and Registrar 

Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture, shall act as Paying Agent and Registrar. The Company may
appoint and change any Paying Agent or Registrar without notice to any holder. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 
  

 

	1 	 In the case of Notes issued on the Issue Date. 

	2 	 In the case of Notes issued on the Issue Date. 

  
 A-4 

	4.	 Indenture  

The Company issued the 1.950% Senior Notes due 2028 (referred to in this Note as the “Notes”) under an Indenture dated as of
April 14, 2010 (the “Base Indenture”), as supplemented by that Supplemental Indenture dated as of July 29, 2021 (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), each
between the Company and the Trustee. 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, as amended (15 U.S.C. §§ 77aaa-77bbbb) (the “Trust
Indenture Act”). Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a
statement of those terms. 
 The Company shall be entitled, subject to its compliance with Section 2.03(e) of the Supplemental
Indenture, to create and issue further securities having the same ranking and terms and conditions as the Notes in all respects, except for the issue date, the public offering price, the payment of interest accruing prior to the issue date of such
additional Notes and, in some cases, the first Interest Payment Date. The Notes initially issued on the Issue Date and any additional Notes shall be treated as a single class for all purposes under the Indenture. 

 

	5.	 Optional Redemption 

Except as described below, the Notes will not be redeemable by the Company prior to Maturity. 

The Company shall have the right to redeem the Notes at any time prior to the Par Call Date in whole, or from time to time, in part at a
redemption price (the “Redemption Price”) equal to the greater of: (i) 100% of the principal amount of the Notes to be redeemed; and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on
the Notes to be redeemed that would have been payable if the Notes being redeemed matured on the Par Call Date (exclusive of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Yield, plus 15 basis points, plus accrued and unpaid interest to, but not including, the date of redemption
(subject to the right of Holders on the relevant record date to receive interest due on an Interest Payment Date that is on or prior to the date fixed for redemption); provided, however, that at any time on or after the Par Call Date, the
Company may redeem the Notes, at its option, in whole, or from time to time in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to, but not including, the date of
redemption (subject to the right of Holders on the relevant record date to receive interest due on an Interest Payment Date that is on or prior to the date fixed for redemption). 

“Par Call Date” means June 1, 2028 (two months prior to the maturity date of the Notes). 

 

	6.	 Notice of Redemption  

The Notes called for redemption become due on the date fixed for redemption. Notice of redemption (with a copy to the Trustee) shall be mailed
at least 15 days but not more than 60 days before the Redemption Date to each Holder to be redeemed at his or her registered address. 
  

	7.	 Repurchase at Option of Holder Upon Change of Control Repurchase Event 

If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to redeem the Notes pursuant to the Indenture, the
Company shall be required to make an offer to each Holder of the Notes to repurchase all or a portion of such Holder’s Notes (the “Change of Control 

  
 A-5 

 
Offer”), at a purchase price in cash equal to 101% of the aggregate principal amount thereof plus accrued interest, if any, to the date of purchase (subject to the right of Holders on the
relevant record date to receive interest due on an Interest Payment Date that is on or prior to the date fixed for repurchase). Within 30 days following the date upon which the Change of Control Repurchase Event occurred, the Company must send (with
a copy to the Trustee), by first class mail, a notice to each Holder, which notice shall govern the terms of the Change of Control Offer and shall be in compliance with the Indenture. Holders electing to have a Note purchased pursuant to a Change of
Control Offer shall be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, to the Paying Agent at the address specified in the notice. 

 

	8.	 Denominations; Transfer; Exchange  

The Notes are in registered form without coupons in minimum denominations of $2,000 principal and in integral multiples of $1,000 in excess
thereof. A Holder may register, transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees required by
law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part, the portion of the Note not to be redeemed) or any Notes for a
period of 15 days before a selection of Notes to be redeemed. 
  

	9.	 Persons Deemed Owners  

The registered Holder of this Note may be treated as the owner of it for all purposes. 

 

	10.	 Discharge and Defeasance  

Subject to certain conditions set forth in the Indenture, the Company at any time shall be entitled to terminate some or all of its and any
Guarantors’ obligations under the Notes and the Indenture if the Company deposits with the Trustee money or U.S. Government Obligations for the payment of principal, premium, if any, and interest on the Notes to redemption or maturity, as the
case may be. 
  

	11.	 Amendment, Waiver 

The Indenture, the Notes or any Subsidiary Guarantees may be amended or supplemented as provided in the Indenture. 

 

	12.	 Defaults and Remedies  

If any Event of Default (as defined in the Indenture) occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount
of the then Outstanding Notes may declare all the Notes to be due and payable by notice in writing to the Company and the Trustee (if declared by the Holders) specifying the respective Event of Default and that it is a “notice of
acceleration,” and the same shall become immediately due and payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture and the Trust Indenture Act. Subject to certain limitations, including the
Trustee’s right to indemnity as set forth in the Indenture, Holders of a majority in principal amount of the then Outstanding Notes may direct the Trustee in its exercise of any trust or power. However, the Trustee may refuse to follow any
direction that conflicts with law or the Indenture or that the Trustee determines 

  
 A-6 

 
may be unduly prejudicial to the rights of other Holders of Notes or that may involve the Trustee in personal liability. The Company is required to deliver to the Trustee annually a statement
regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default. 

 

	13.	 Trustee Dealings with the Company 

Subject to certain limitations imposed by the Trust Indenture Act, the Trustee under the Indenture, in its individual or any other capacity,
may become the owner or pledgee of Notes and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may
otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 
  

	14.	 No Recourse Against Others  

Any past, present, or future director, officer, employee, incorporator or stockholder, as such, of the Company or the Trustee shall not have
any liability for any obligations of the Company under the Notes, the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Holder waives and releases all such liability. The
waiver and release are part of the consideration for the issue of the Notes. 
  

	15.	 Authentication 

This Note shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) signs the certificate of authentication
on the other side of this Note. 
  

	16.	 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 rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 
  

	17.	 CUSIP and ISIN Numbers  

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures the Company has caused CUSIP and ISIN
numbers to be printed on the Notes and has directed the Trustee to use CUSIP and ISIN 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 and reliance may be placed only on the other identification numbers placed thereon. 
  

	18.	 GOVERNING LAW 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

  
 A-7 

   

The Company shall furnish to any Holder upon written request and without charge to the Holder a copy of the Indenture. Requests may be made
to: 
 AutoNation, Inc. 
 200 SW
1st Ave 
 Fort Lauderdale, FL 33301 

Attention: Legal Department 

Facsimile No.: 954-769-6340 

  
 A-8 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 (I) or (we)
assign and transfer this Note to 
  
  

(Print or type assignee’s name, address and zip code) 
  

 
 (Insert assignee’s soc. sec. or
tax I.D. No.) 
 and irrevocably, appoint
                     agent to transfer this Note on the books of the Company. 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	 	
	  
 Signature Guarantee:
	 		 		 	
				
	         
	 		 		 	
	Signature must be guaranteed	 		 		 	

 (Signatures must be guaranteed by a participant in a recognized Signature Medallion Program or other signature
guarantor program reasonably acceptable to the Trustee.) 

  
 A-9 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 4.01 of the Supplemental Indenture check the
box:  ☐ 
 If you want to elect to have only part of this Note purchased by the Company pursuant to Section 4.01 of the
Supplemental Indenture, state the amount you elect to have purchased: $                 
  

									
	Dated:	 	                                      
                                         
 	 	 	 	Your Signature:	 	
                    

		 		 		 		 	 (Sign exactly as your name appears

on the other side of this Note.)

		 		 	

											
				
	Signature Guarantee:	 	         
	 		 	
		 	 (Signature must be guaranteed)
	 		 	

 (Signatures must be guaranteed by a participant in a recognized Signature Medallion Program or other signature
guarantor program reasonably acceptable to the Trustee.) 

  
 A-10 

 [IF A GLOBAL NOTE, INSERT: SCHEDULE OF EXCHANGES OR INTERESTS IN GLOBAL NOTE 

The following increases or decreases 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 or
custodian]

		  		  		  		  	

  
 A-11 

 EXHIBIT B 

[GLOBAL NOTE LEGEND] 
 [IF A
GLOBAL NOTE, INSERT: THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE SUPPLEMENTAL INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY
CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAYBE REQUIRED PURSUANT TO SECTION 4.06 OF THE BASE INDENTURE, (II) THIS GLOBAL NOTE MAYBE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 4.06 OF THE BASE
INDENTURE, (III) THIS GLOBAL NOTE MAYBE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 3.09 OF THE BASE INDENTURE AND (IV) THIS GLOBAL NOTE MAYBE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE
COMPANY. 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
  

	*	 Legend to be included only for Global Notes 

  
 B-1 

 [FORM OF FACE OF NOTE] 

 

			
	No.        	  	$[        ]
		  	 CUSIP No. 05329WAS1

ISIN: US05329WAS17

 2.400% Senior Notes due 2031 

AutoNation, Inc., a Delaware corporation, promises to pay to [        ], or registered assigns, the
principal sum of [        ] Dollars ($[        ])[IF A GLOBAL NOTE, INSERT: , or such other amount as may be specified on the attached schedule reflecting increases and
decreased in the principal amount hereof,] on August 1, 2031, unless earlier redeemed or repurchased. 
 Interest Payment Dates:
February 1 and August 1, commencing February 1, 2022. 
 Record Dates: January 15 and July 15. 

Additional provisions of this Note are set forth on the other side of this Note. 

IN WITNESS HEREOF, the Company has caused this instrument to be duly executed 

Dated: 
  

			
	AUTONATION, INC.
		
	By:	 	
                     
                    

		 	Name:
		 	Title:

  
 B-2 

			
	Dated:
	
	TRUSTEE’S CERTIFICATE OF
	AUTHENTICATION
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
	
	as Trustee, certifies that this is one of the Global Notes referred to in the within mentioned Indenture.
		
	By:	 	
                     
                    

		 	Authorized Signatory

  
 B-3 

 [FORM OF REVERSE SIDE OF NOTE] 

2.400% Senior Notes due 2031 

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

 

	1.	 Interest 

AutoNation, Inc. (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the
“Company”), promises to pay interest on the principal amount of this Note at the rate per annum shown above. The Company shall pay interest semi-annually in arrears on February 1 and August 1 of each year, or, if such date is not
a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”), commencing February 1, 2022.3 Interest on the Notes shall accrue from the most recent
Interest Payment Date to which interest has been paid or, if no interest has been paid, from July 29, 20214. The Company shall pay interest on overdue principal and premium, if any, and
interest on overdue installments of interest, to the extent lawful, at the interest rate for the Notes. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. 
  

	2.	 Method of Payment 

The Company shall pay interest on the Notes to the Persons who are registered Holders of Notes at the close of business on the January 15
or July 15 immediately preceding the relevant Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except with respect to defaulted interest. The Notes shall be payable as to
principal, premium and interest at the office or agency of the Company maintained for such purpose within or without the City and State of New York, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at
their addresses set forth in the register of Holders, and provided that payment by wire transfer of immediately available funds shall be required with respect to principal of and interest and premium on all Global Notes and all other Notes the
Holders of which shall have provided wire transfer instructions no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its judgment), to the Company or the Paying Agent. Such
payment shall be in such coin or currency of the United States of America at the time of payment is legal tender for payment of public and private debts. 
  

	3.	 Paying Agent and Registrar 

Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture, shall act as Paying Agent and Registrar. The Company may
appoint and change any Paying Agent or Registrar without notice to any holder. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 
  

 

	3 	 In the case of Notes issued on the Issue Date. 

	4 	 In the case of Notes issued on the Issue Date. 

  
 B-4 

	4.	 Indenture  

The Company issued the 2.400% Senior Notes due 2031 (referred to in this Note as the “Notes”) under an Indenture dated as of
April 14, 2010 (the “Base Indenture”), as supplemented by that Supplemental Indenture dated as of July 29, 2021 (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), each
between the Company and the Trustee. 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, as amended (15 U.S.C. §§ 77aaa-77bbbb) (the “Trust
Indenture Act”). Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a
statement of those terms. 
 The Company shall be entitled, subject to its compliance with Section 2.03(e) of the Supplemental
Indenture, to create and issue further securities having the same ranking and terms and conditions as the Notes in all respects, except for the issue date, the public offering price, the payment of interest accruing prior to the issue date of such
additional Notes and, in some cases, the first Interest Payment Date. The Notes initially issued on the Issue Date and any additional Notes shall be treated as a single class for all purposes under the Indenture. 

 

	5.	 Optional Redemption 

Except as described below, the Notes will not be redeemable by the Company prior to Maturity. 

The Company shall have the right to redeem the Notes at any time prior to the Par Call Date in whole, or from time to time, in part at a
redemption price (the “Redemption Price”) equal to the greater of: (i) 100% of the principal amount of the Notes to be redeemed; and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on
the Notes to be redeemed that would have been payable if the Notes being redeemed matured on the Par Call Date (exclusive of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Yield, plus 20 basis points, plus accrued and unpaid interest to, but not including, the date of redemption
(subject to the right of Holders on the relevant record date to receive interest due on an Interest Payment Date that is on or prior to the date fixed for redemption); provided, however, that at any time on or after the Par Call Date, the
Company may redeem the Notes, at its option, in whole, or from time to time in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to, but not including, the date of
redemption (subject to the right of Holders on the relevant record date to receive interest due on an Interest Payment Date that is on or prior to the date fixed for redemption). 

“Par Call Date” means May 1, 2031 (three months prior to the maturity date of the Notes). 

 

	6.	 Notice of Redemption  

The Notes called for redemption become due on the date fixed for redemption. Notice of redemption (with a copy to the Trustee) shall be mailed
at least 15 days but not more than 60 days before the Redemption Date to each Holder to be redeemed at his or her registered address. 
  

	7.	 Repurchase at Option of Holder Upon Change of Control Repurchase Event 

If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to redeem the Notes pursuant to the Indenture, the
Company shall be required to make an offer to each Holder of the Notes to repurchase all or a portion of such Holder’s Notes (the “Change of Control 

  
 B-5 

 
Offer”), at a purchase price in cash equal to 101% of the aggregate principal amount thereof plus accrued interest, if any, to the date of purchase (subject to the right of Holders on the
relevant record date to receive interest due on an Interest Payment Date that is on or prior to the date fixed for repurchase). Within 30 days following the date upon which the Change of Control Repurchase Event occurred, the Company must send (with
a copy to the Trustee), by first class mail, a notice to each Holder, which notice shall govern the terms of the Change of Control Offer and shall be in compliance with the Indenture. Holders electing to have a Note purchased pursuant to a Change of
Control Offer shall be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, to the Paying Agent at the address specified in the notice. 

 

	8.	 Denominations; Transfer; Exchange  

The Notes are in registered form without coupons in minimum denominations of $2,000 principal and in integral multiples of $1,000 in excess
thereof. A Holder may register, transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees required by
law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part, the portion of the Note not to be redeemed) or any Notes for a
period of 15 days before a selection of Notes to be redeemed. 
  

	9.	 Persons Deemed Owners  

The registered Holder of this Note may be treated as the owner of it for all purposes. 

 

	10.	 Discharge and Defeasance  

Subject to certain conditions set forth in the Indenture, the Company at any time shall be entitled to terminate some or all of its and any
Guarantors’ obligations under the Notes and the Indenture if the Company deposits with the Trustee money or U.S. Government Obligations for the payment of principal, premium, if any, and interest on the Notes to redemption or maturity, as the
case may be. 
  

	11.	 Amendment, Waiver 

The Indenture, the Notes or any Subsidiary Guarantees may be amended or supplemented as provided in the Indenture. 

 

	12.	 Defaults and Remedies  

If any Event of Default (as defined in the Indenture) occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount
of the then Outstanding Notes may declare all the Notes to be due and payable by notice in writing to the Company and the Trustee (if declared by the Holders) specifying the respective Event of Default and that it is a “notice of
acceleration,” and the same shall become immediately due and payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture and the Trust Indenture Act. Subject to certain limitations, including the
Trustee’s right to indemnity as set forth in the Indenture, Holders of a majority in principal amount of the then Outstanding Notes may direct the Trustee in its exercise of any trust or power. However, the Trustee may refuse to follow any
direction that conflicts with law or the Indenture or that the Trustee determines 

  
 B-6 

 
may be unduly prejudicial to the rights of other Holders of Notes or that may involve the Trustee in personal liability. The Company is required to deliver to the Trustee annually a statement
regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default. 

 

	13.	 Trustee Dealings with the Company 

Subject to certain limitations imposed by the Trust Indenture Act, the Trustee under the Indenture, in its individual or any other capacity,
may become the owner or pledgee of Notes and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may
otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 
  

	14.	 No Recourse Against Others  

Any past, present, or future director, officer, employee, incorporator or stockholder, as such, of the Company or the Trustee shall not have
any liability for any obligations of the Company under the Notes, the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Holder waives and releases all such liability. The
waiver and release are part of the consideration for the issue of the Notes. 
  

	15.	 Authentication 

This Note shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) signs the certificate of authentication
on the other side of this Note. 
  

	16.	 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 rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 
  

	17.	 CUSIP and ISIN Numbers  

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures the Company has caused CUSIP and ISIN
numbers to be printed on the Notes and has directed the Trustee to use CUSIP and ISIN 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 and reliance may be placed only on the other identification numbers placed thereon. 
  

	18.	 GOVERNING LAW 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

  
 B-7 

  

The Company shall furnish to any Holder upon written request and without charge to the Holder a copy of the Indenture. Requests may be made
to: 
 AutoNation, Inc. 
 200 SW
1st Ave 
 Fort Lauderdale, FL 33301 

Attention: Legal Department 

Facsimile No.: 954-769-6340 

  
 B-8 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 (I) or (we)
assign and transfer this Note to 
  
  

(Print or type assignee’s name, address and zip code) 
  

 
 (Insert assignee’s soc. sec. or
tax I.D. No.) 
 and irrevocably, appoint
                     agent to transfer this Note on the books of the Company. 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

  

	
	Signature Guarantee:
	
	  

	Signature must be guaranteed

 (Signatures must be guaranteed by a participant in a recognized Signature Medallion Program or other signature
guarantor program reasonably acceptable to the Trustee.) 

  
 B-9 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 4.01 of the Supplemental Indenture check the
box:  ☐ 
 If you want to elect to have only part of this Note purchased by the Company pursuant to Section 4.01 of the
Supplemental Indenture, state the amount you elect to have purchased: $         
  

			
	Dated:                                     
                                         
  	 	Your Signature:                                 
                                         
                      
		 	 (Sign exactly as your name appears on the other side of this Note.)

  

	
	Signature Guarantee:                                  
                          
	 (Signature must be guaranteed)

 (Signatures must be guaranteed by a participant in a recognized Signature Medallion Program or other signature
guarantor program reasonably acceptable to the Trustee.) 

  
 B-10 

 [IF A GLOBAL NOTE, INSERT: SCHEDULE OF EXCHANGES OR INTERESTS IN GLOBAL NOTE 

The following increases or decreases 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 or
custodian]

		  		  		  		  	

  
 B-11 

 EXHIBIT C 

FORM OF SUPPLEMENTAL INDENTURE 

SUPPLEMENTAL INDENTURE (this “Guarantor Supplemental Indenture”), dated as of ____________, among AutoNation, Inc., a Delaware
corporation (the “Company”), _________, each a Domestic Subsidiary of the Company (or its permitted successor), and Wells Fargo Bank, National Association, as trustee under the indenture referred to below (the “Trustee”). 

W I T N E S S E T H 
 WHEREAS,
the Company has heretofore executed and delivered to the Trustee the Indenture, dated as of April 14, 2010 (the “Base Indenture”), as supplemented by that Supplemental Indenture, dated as of July 29, 2021 (the “Supplemental
Indenture” and, together with the Base Indenture, the “Indenture”), providing for the issuance of 1.950% Senior Notes due 2028 (the “2028 Notes”) and of 2.400% Senior Notes due 2031 (the “2031 Notes,” and together
with the “2028 Notes,” the “Notes”); 
 WHEREAS, the Indenture provides that under certain circumstances, a Domestic
Subsidiary (each such Domestic Subsidiary, a “Guarantor”) shall execute and deliver to the Trustee a supplemental indenture pursuant to which such Guarantor shall unconditionally guarantee all of the Company’s obligations under the
Notes and the Indenture on the terms and conditions set forth herein (the “Guarantee”); and 
 WHEREAS, pursuant to
Section 8.01 of the Supplemental Indenture, the Trustee is authorized to execute and deliver this Guarantor Supplemental Indenture. 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the Company, each Guarantor and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

1.    Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them
in the Indenture. 
 2.    Agreement to Guarantee. Each of the Guarantors hereby, jointly and severally,
unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of the Indenture, the Notes or the obligations of the
Company hereunder or thereunder, that: (a) the principal of, premium, if any, and interest on the Notes shall be promptly paid by the Company in full when due, whether at Maturity, by acceleration, redemption or otherwise, and interest on the
overdue principal of, premium, if any, and interest on the Notes, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder shall be promptly paid by the Company in full or performed by the
Company, all in accordance with the terms hereof and thereof; and (b) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same shall be promptly paid by the Company in full when due or
performed by the Company in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration or otherwise. Failing payment when due by the Company of any amount so guaranteed or any performance so guaranteed which
failure continues for ten (10) days after demand therefor is made to the Company for whatever reason, the Guarantors shall be jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is a Guarantee of payment
and not a Guarantee of collection. 

  
 C-1 

 The Guarantors hereby agree that their obligations hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes or the Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery
of any judgment against the Company, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a Guarantor. Each Guarantor hereby waives diligence, presentment, demand of
payment (except as specifically provided in the preceding paragraph), filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands
(except as specifically provided in the preceding paragraph) whatsoever and covenant that this Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes and the Indenture. Each Guarantor also
expressly waives, without any requirement of any notice to or further assent by such Guarantor, to the fullest extent permitted by applicable law, the benefit of all principles or provisions of applicable law which are or might be in conflict with
the terms hereof, including, without limitation, Section 10-7-23 and
Section 10-7-24 of the Official Code of Georgia Annotated. 

If any Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantors or any custodian, trustee,
liquidator or other similar official acting in relation to either the Company or the Guarantors, any amount paid by either to the Trustee or such Holder, this Guarantee, to the extent theretofore discharged, shall be reinstated in full force and
effect. 
 Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any
obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of
the obligations guaranteed hereby may be accelerated as provided in Article VII of the Base Indenture and Article VI of the Supplemental Indenture for the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of such obligations as provided in Article VII of the Base Indenture and Article VI of the Supplemental
Indenture, such obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantors for the purpose of this Guarantee, failing payment when due by the Company which failure continues for ten (10) days after
demand therefor is made to the Company. The Guarantors shall have the right to seek contribution from any non-paying Guarantor in a pro rata amount based on the net assets of each Guarantor determined in
accordance with GAAP, so long as the exercise of such right does not impair the rights of the Holders under the Guarantee. 

3.    Limitation on Guarantor Liability. Each Guarantor, and by its acceptance of Notes, each Holder, hereby
confirms that it is the intention of all such parties that the Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act
or any similar federal or state law to the extent applicable to any Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of such Guarantor under its Guarantee and
this Guarantor Supplemental Indenture shall be limited to the maximum amount as will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under such laws, and after giving
effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under this Guarantor Supplemental Indenture, result in the obligations
of such Guarantor under its Guarantee not constituting a fraudulent transfer or conveyance. 
 4.    Acknowledgement
of Manufacturers’ Letter Agreements. It is hereby acknowledged that the enforcement of certain rights with respect to any Guarantee is subject to the terms 

  
 C-2 

 
and conditions of the Manufacturers’ Letter Agreements. As used herein, “Manufacturers’ Letter Agreements” means each of the following: (i) Letter Agreement, dated
August 28, 2015, between the Company and Ford Motor Company, (ii) Letter Agreement, dated August 28, 2015, between the Company and Nissan north America, Inc., (iii) Letter Agreement, dated September 4, 2015, between the Company
and Toyota Motor Sales, U.S.A., Inc. and (iv) Letter Agreement, dated September 8, 2015, between the Company and BMW of North America, LLC. 

5.    Certain California Law Waivers. As used in this Guarantor Supplemental Indenture, any reference to “the
principal” includes the Company, and any reference to “the creditor” includes the Holders. In accordance with Section 2856 of the California Civil Code: 

(a)    each Guarantor agrees (i) to waive any and all rights of subrogation and reimbursement against the Company or
against any collateral or security granted by the Company for any of the Guarantor’s obligations and (ii) to withhold the exercise of any and all rights of contribution against any other guarantor of any of the Guarantor’s obligations
and against any collateral or security granted by any such other guarantor for any of the Guarantor’s obligations until the Guarantor’s obligations shall have been indefeasibly paid in full; 

(b)    each Guarantor waives any and all other rights and defenses available to the Guarantor by reason of Sections 2787
to 2855, inclusive, 2899 and 3433 of the California Civil Code, including any and all rights or defenses Guarantor may have by reason of protection afforded to the principal with respect to any of the Guarantor’s obligations, or to any other
guarantor of any of the Guarantor’s obligations with respect to any of such guarantor’s obligations under its guaranty, in either case pursuant to the antideficiency or other laws of the State of California limiting or discharging the
principal’s indebtedness or such guarantor’s obligations, including Section 580a, 580b, 580d, or 726 of the California Code of Civil Procedure; and 

(c)    each Guarantor waives all rights and defenses arising out of an election of remedies by the creditor, even though
that election of remedies, such as a nonjudicial foreclosure with respect to security for any Guarantee obligation, has destroyed Guarantor’s rights of subrogation and reimbursement against the principal by the operation of Section 580d of
the Code of Civil Procedure or otherwise; and even though that election of remedies by the creditor, such as nonjudicial foreclosure with respect to security for an obligation of any other guarantor of any of the Guarantor’s obligations, has
destroyed Guarantor’s rights of contribution against such other guarantor. 
 No other provision of this Guarantor Supplemental
Indenture shall be construed as limiting the generality of any of the covenants and waivers set forth herein. In accordance with Section 10 of this Guarantor Supplemental Indenture, the Guarantees shall be governed by, and shall be construed
and enforced in accordance with, the internal laws of the State of New York. This Section 5 is included solely out of an abundance of caution, and shall not be construed to mean that any of the above-referenced provisions of California law are
in any way applicable to the Guarantees or to any of the Guarantor’s obligations. 
 6.    Guarantor May
Consolidate, Etc. on Certain Terms. Each Guarantor agrees that, unless its Guarantee is being concurrently released in conformity with Section 8 of this Guarantor Supplemental Indenture, it may not consolidate with or merge with or into any
Person other than the Company or any other Guarantor unless (a) the Guarantor will be the surviving corporation or the Person formed by or surviving any such consolidation or merger (if other than the Guarantor) is a corporation organized and
existing under the laws of the United States of America, any State thereof or the District of Columbia and such Person assumes by supplemental indenture all of the obligations of the Guaranteeing Subsidiary on its Guarantee and (b) immediately
after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing. 

  
 C-3 

 7.    Execution and Delivery. Each Guarantor agrees that the
Guarantees shall remain in full force and effect notwithstanding the absence of any endorsement on any Note a notation of such Guarantee. The delivery of any Note by the Trustee, after the authentication thereof under the Indenture, shall constitute
due delivery of the Guarantees set forth in this Guarantor Supplemental Indenture on behalf of the Guarantors. 

8.    Release of Guarantor. The Guarantee of a Guarantor shall be released: 

(d)    upon any sale, exchange or transfer, to any Person not an Affiliate of the Company, of all of the Company’s
Capital Stock in, or all or substantially all the assets of, such Domestic Subsidiary, which transaction is in compliance with the terms of the Indenture, and such Domestic Subsidiary is released from all guarantees, if any, by it of other
Indebtedness of the Company or any Domestic Subsidiary; 
 (e)    upon the occurrence of either Defeasance or Covenant
Defeasance with respect to such Notes in compliance with Article VII of the Supplemental Indenture; 
 (f)    upon the
release by the holders of the applicable Indebtedness of the Company described in Section 5.03(a) of the Supplemental Indenture of their Guarantee by such Domestic Subsidiary (including any deemed release upon payment in full of all obligations
under such Indebtedness), at such time as (A) no other Indebtedness of the Company has been guaranteed by such Domestic Subsidiary or (B) the holders of all such other Indebtedness which is guaranteed by such Domestic Subsidiary also
release their Guarantee by such Domestic Subsidiary (including any deemed release upon payment in full of all obligations under such Indebtedness); 

(g)    so long as any of the Existing Pre-2020 Senior Notes have not been retired,
Discharged or defeased in accordance with Article XII of the Base Indenture or satisfied and discharged or defeased in accordance with the applicable supplemental indenture setting forth the terms of such Existing
Pre-2020 Senior Notes, upon such Guarantor ceasing to guarantee the Company’s Credit Agreement or any Existing Pre-2020 Senior Notes and such Guarantor ceasing to
guarantee any Indebtedness of the Company or any other Domestic Subsidiary in an amount exceeding $75,000,000 (other than the Notes); or 

(h)    at any time after all of the Existing Pre-2020 Senior Notes have been
retired, Discharged or defeased in accordance with Article XII of the Base Indenture or satisfied and discharged or defeased in accordance with the applicable supplemental indenture setting forth the terms of such Existing Pre-2020 Senior Notes, upon such Guarantor ceasing to guarantee the Company’s Credit Agreement. 

The Trustee, at the expense and written direction of the Company, shall execute proper instruments acknowledging the termination of such
Guarantee as reasonably required by the representative of such Guarantor. 
 Any Guarantor not released from its obligations under its
Guarantee shall remain liable for the full amount of principal and premium, if any, of and interest on the Notes and for the other obligations of any Guarantor under the Indenture as provided in this Guarantor Supplemental Indenture. 

9.    No Recourse Against Others. No director, officer, employee, incorporator, stockholder or agent of a
Guarantor, as such, shall have any liability for any obligations of the Company or any Guarantor under the Notes, the Indenture, any Guarantees or this Guarantor Supplemental Indenture or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part 

  
 C-4 

 
of the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws. 

10.    GOVERNING LAW. THIS GUARANTOR SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK. 
 11.    WAIVER OF JURY TRIAL. THE COMPANY, THE GUARANTORS AND THE TRUSTEE
EACH HEREBY IRREVOCABLE WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUIT, ACTION, OR OTHER PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTOR SUPPLEMENTAL
INDENTURE, THE GUARANTEES OF THE GUARANTORS OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 12.    Counterparts. The
parties may sign any number of copies of this Guarantor Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. The exchange of copies of this Guarantor Supplemental Indenture and of
signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Guarantor Supplemental Indenture as to the parties hereto and may be used in lieu of the original Guarantor Supplemental Indenture for all
purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. The words “execution,” “signed,” “signature,” “delivery,” and words
of like import in or relating to this Guarantor Supplemental Indenture or any document to be signed in connection with this Guarantor Supplemental Indenture shall be deemed to include electronic signatures, deliveries or the keeping of records in
electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto
consent to conduct the transactions contemplated hereunder by electronic means. 
 13.    Effect of Headings. The
Section headings herein are for convenience only and shall not affect the construction hereof. 
 14.    The
Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity, legality or sufficiency of this Guarantor Supplemental Indenture or for or in respect of the recitals contained herein, all of which
recitals are made solely by the Guarantors and the Company. 
 15.    Successors. All agreements of the Issuer
and each Guarantor in this Guarantor Supplemental Indenture shall bind its successors, except as otherwise provided in this Guarantor Supplemental Indenture. All agreements of the Trustee in this Guarantor Supplemental Indenture shall bind its
successors. 

  
 C-5 

 IN WITNESS WHEREOF, the parties hereto have caused this Guarantor Supplemental Indenture to
be duly executed and attested, all as of the date first above written. 
 Dated: 

 

			
	[GUARANTORS]
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	AUTONATION, INC.
		
	By:	 	 
		 	Name:
		 	Title:

  
  

			
	WELLS FARGO BANK, National Association, as Trustee
		
	By:	 	 
		 	Name:
		 	Title:

  
 C-6Document

EXHIBIT 10.4

SERVICENOW, INC.
2021 EQUITY INCENTIVE PLAN
NOTICE OF GLOBAL PERFORMANCE STOCK OPTION GRANT

Unless otherwise defined herein, the terms defined in the ServiceNow, Inc. (the “Company”) 2021 Equity Incentive Plan (the “Plan”) shall have the same meanings in this Notice of Global Performance Stock Option Grant and the electronic representation of this Notice of Global Performance Stock Option Grant, and the performance and vesting terms set forth in Appendix A attached hereto (the “Vesting Appendix”) established and maintained by the Company or a third party designated by the Company (the Notice of Global Performance Stock Option Grant and the Vesting Appendix are collectively referred to as the “Notice”).

						
	Name:
	As set forth in the electronic representation of this Notice of Global Performance Stock Option Grant.

                       
You (the “Participant”) have been granted a performance-based option to purchase shares of Common Stock of the Company under the Plan subject to the terms and conditions of the Plan, this Notice and the Global Performance Stock Option Award Agreement, including any appendix to the Global Performance Stock Option Award Agreement for Participant’s country (the “Appendix”) (the Global Performance Stock Option Award Agreement and the Appendix are collectively referred to as the “Agreement”).

						
	Grant ID Number:	The “Grant Name” as set forth in the electronic representation of this Notice of Global Performance Stock Option Grant.
	Date of Grant: 
	The “Grant Date” as set forth in the electronic representation of this Notice of Global Performance Stock Option Grant.

	Exercise Price per Share:  
	US$ The “Exercise Price” as set forth in the electronic representation of this Notice of Global Performance Stock Option Grant.

	Maximum Number of Shares: 
	The “Shares Granted” as set forth in the electronic representation of this Notice of Global Performance Stock Option Grant.

	Type of Option:
	The “Grant Type” as set forth in the electronic representation of this Notice of Global Performance Stock Option Grant.
	Expiration Date:
	The “Expiration” as set forth in the electronic representation of this Notice of Global Performance Stock Option Grant.

	Vesting Schedule:	Subject to the limitations set forth in this Notice, the Plan and the Agreement, the Option will vest and may be exercised, in whole or in part, as set forth in the Vesting Appendix. 

By accepting (whether in writing, electronically or otherwise) the Option, Participant acknowledges and agrees to the following:

Participant understands that Participant’s Service with the Company or a Parent, Subsidiary or Affiliate is for an unspecified duration and that nothing in this Notice, the Agreement or the Plan changes the nature of that relationship. Participant acknowledges that the vesting of the Options pursuant to this Notice is earned only by both achievement of the performance metrics set forth in the Vesting Appendix and continuing Service as an Employee, Director or Consultant of the Company or a Parent, Subsidiary or Affiliate. To the extent permitted by applicable law, Participant agrees and acknowledges that the Vesting Schedule may change prospectively in the event that Participant’s Service status changes and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of Awards or as determined by the Committee to the extent permitted by applicable law.  

Furthermore, the period during which Participant may exercise the Option after such termination of Service will commence on the date Participant ceases to actively provide Services and will not be extended by any notice period mandated under employment laws in the jurisdiction where Participant is employed or terms of Participant’s employment agreement (e.g., Participant’s employment or consulting relationship or other Service with the Company would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where he or she is employed or the terms of his or her employment or service agreement, if any); the Committee shall have the exclusive discretion to determine when Participant is no longer actively providing Services for purposes of Participant’s Option grant (including whether Participant may still be considered to be providing Services while on a leave of absence). Participant also understands that this Notice is subject to the terms and conditions of both the Agreement and the Plan, both of which are incorporated herein by reference. Participant has read both the Agreement and the Plan. Participant has read the Company’s Insider Trading Policy and 10b5-1  Plan Guidelines, and agrees to comply with such policy, as it may be amended from time to time, whenever Participant acquires or disposes of the Company’s securities.  By accepting this Option, Participant consents to the electronic delivery as set forth in the Agreement.

VESTING APPENDIX

[ServiceNow to insert applicable performance metrics and vesting schedule.]

SERVICENOW, INC.
2021 EQUITY INCENTIVE PLAN
GLOBAL PERFORMANCE STOCK OPTION AWARD AGREEMENT

Unless otherwise defined in this Global Performance Stock Option Award Agreement (the “Agreement”), any capitalized terms used herein shall have the meaning ascribed to them in the ServiceNow, Inc. (the “Company”) 2021 Equity Incentive Plan (the “Plan”).

Participant has been granted a performance-based option to purchase Shares (the “Option”), subject to the terms and conditions of the Plan, the Notice of Global Performance Stock Option Grant, including the Vesting Appendix attached thereto (the “Notice”) and this Agreement, including any appendix to this Agreement for Participant’s country (the “Appendix”).

1.Vesting Rights.  Subject to the applicable provisions of the Plan, the Notice and this Agreement, this Option may be exercised, in whole or in part, in accordance with the schedule set forth in the Notice.

2.Termination Period.

a.General Rule.  Except as provided below or in the Notice, and subject to the Plan, this Option may be exercised for 90 days after Participant’s termination of Service (the “Termination Date”). In no event shall this Option be exercised later than the Expiration Date set forth in the Notice, with any exercise beyond three (3) months after the Termination Date deemed to be the exercise of an NQSO. The Company determines when Participant’s Service terminates for all purposes under this Agreement.

b.Death; Disability.  Unless provided otherwise in the Notice, upon Participant’s termination of Service by reason of his or her death, or if a Participant dies within 90 days of the Termination Date, this Option may be exercised for twelve months, provided that in no event shall this Option be exercised later than the Expiration Date set forth in the Notice. Unless provided otherwise in the Notice, upon Participant’s termination of Service by reason of his or her Disability, this Option may be exercised for six months, provided that in no event shall this Option be exercised later than the Expiration Date set forth in the Notice, with any exercise of this Option beyond twelve (12) months after the date Participant ceases to be an employee when the termination is for Participant’s disability, within the meaning of Section 22(e)(3) of the Code, is deemed to be an NQSO.

c.Cause.  Upon Participant’s termination of Service for Cause (as defined in the Plan), the Option shall expire on such date of Participant’s Termination Date.

d.Cessation of Vesting; Determination.  Unless otherwise provided in the Notice or as may be determined by the Company, Participant’s right to vest in the Option, if any, will terminate as of the Termination Date and Participant’s right to exercise the Option after the Termination Date, if any, will be measured from the Termination Date.  In case of any dispute as to whether and when a termination of Service has occurred, the Committee will have sole discretion to determine whether such termination of Service has occurred and the effective date of such termination (including whether Participant may still be considered to be actively providing Services while on a leave of absence).

3.Grant of Option.  Participant named in the Notice has been granted an Option for the number of Shares set forth in the Notice at the exercise price per Share in U.S. Dollars set forth in the Notice (the “Exercise Price”). In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an ISO, to the extent that it exceeds the U.S. $100,000 rule of Code Section 422(d) it shall be treated as a Nonqualified Stock Option (“NQSO”).

4.Exercise of Option.

a.Right to Exercise.  This Option is exercisable during its term in accordance with the Vesting Schedule set forth in the Notice and the applicable provisions of the Plan and this Agreement. In the event of Participant’s death, termination of Service due to Disability, termination of Service for Cause or other termination of Service, the exercisability of the Option is governed by the applicable provisions of the Plan, the Notice and this Agreement.

b.Method of Exercise.  This Option is exercisable by delivery of an exercise notice in a form specified by the Company (the “Exercise Notice”), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be delivered in person, by mail, via electronic mail, transmission via online brokerage system or facsimile or by other authorized method to the Secretary of the Company or other person designated by the Company. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares together with any Tax-Related Items withholding (as defined in Section 8(a) below). This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price and payment of any Tax-Related Items.

c.No Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with all relevant provisions of law and the requirements of any stock exchange or quotation service upon which the Shares are then listed and any exchange control restrictions. Assuming such compliance, for income tax purposes the Exercised Shares shall be considered transferred to Participant on the date the Option is exercised with respect to such Exercised Shares.

d.Exercise by Another. Subject to Section 6 below, if another person wants to exercise this Option after it has been transferred to him or her in compliance with this Agreement, that person must prove to the Company’s satisfaction that he or she is entitled to exercise this Option. That person must also complete the proper Exercise Notice form (as described above) and pay the Exercise Price (as described below) and any applicable Tax-Related Items (as described below).

5.Method of Payment.  Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of Participant:
a.cash;

b.check;

c.a “broker-assisted” or “same-day sale” (as described in Section 11(d) of the Plan); or

d.other method authorized by the Committee.

6.Limited Transferability of Option.  Except as set forth in this Section 6, this Option may not be transferred in any manner other than by will or by the laws of descent or distribution or court order and may be exercised during the lifetime of Participant only by Participant or unless otherwise permitted by the Committee on a case-by-case basis. The terms of the Plan and this Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of Participant. Notwithstanding anything else in this Section 6, for U.S. Participants, a NQSO may be transferred by instrument to an inter vivos or testamentary trust in which the NQSO is to be passed to beneficiaries upon the death of the trustor (settlor), to a guardian on the disability or to an executor on death of the NQSO holder, or by gift or pursuant to domestic relations orders to Participant’s “Immediate Family” (as defined below), provided that any such permitted transferees may not transfer NQSOs to parties other than Participant or Participant’s Immediate Family (transfers between a Participant’s Immediate Family and between a Participant’s Immediate Family and Participant are permitted). 

For the sake of clarification, multiple transfers of NQSOs may be made, by gift or pursuant to domestic relations orders, back and forth between Immediate Family and a Participant pursuant to this Section 6. “Immediate Family” means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, domestic partner sharing the same household, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law (including adoptive relationships), a trust in which these persons have more than fifty percent of the beneficial interest, a foundation in which these persons (or Participant) control the management of assets, and any other entity in which these persons (or Participant) own more than fifty percent of the voting interests. The terms of the Plan and this Agreement shall be binding upon the executors, administrators, heirs, transferees, successors and assigns of Participant.

7.Term of Option.  This Option shall in any event expire on the expiration date set forth in the Notice, which date is no later than 10 years after the Date of Grant (five years after the Date of Grant if this option is designated as an ISO in the Notice and Section 5.3 of the Plan applies).

8.Tax Consequences.

a.Exercising the Option.  Participant acknowledges that, regardless of any action taken by the Company or a Parent, Subsidiary or Affiliate of the Company employing or retaining Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax related items related to Participant’s participation in the Plan and legally applicable to Participant (“Tax-Related Items”) is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer, if any. Participant further acknowledges that the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of this Option, including, but not limited to, the grant, vesting or exercise of this Option, the subsequent sale of Shares acquired pursuant to such exercise and the receipt of any dividends; and (ii) do not commit to and are under no obligation to structure the terms of the grant or any aspect of this Option to reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result. Further, if Participant is subject to Tax-Related Items in more than one jurisdiction, Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.  PARTICIPANT SHOULD CONSULT A TAX ADVISER APPROPRIATELY QUALIFIED IN EACH OF THE JURISDICTIONS, INCLUDING COUNTRY OR COUNTRIES IN WHICH PARTICIPANT RESIDES OR IS SUBJECT TO TAXATION BEFORE EXERCISING THE OPTION OR DISPOSING OF THE SHARES.

Prior to the relevant taxable or tax withholding event, as applicable, Participant agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following:

i.withholding from Participant’s wages or other cash compensation paid to Participant by the Company and/or the Employer;

ii.withholding from proceeds of the sale of Shares acquired at exercise of this Option either through a voluntary sale or through a mandatory sale arranged by the Company (on Participant’s behalf pursuant to this authorization) without further consent; 

iii.withholding Shares to be issued upon exercise of the Option, provided the Company only withholds the number of Shares necessary to satisfy no more than the maximum statutory withholding amounts; or

iv.any other arrangement approved by the Committee and permitted under applicable law;

all under such rules as may be established by the Committee and in compliance with the Company’s Insider Trading Policy and 10b5-1  Plan Guidelines, if applicable; provided however, that if Participant is a Section 16 officer of the Company under the Exchange Act, then the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) shall establish the method of withholding from alternatives (i)-(iv) above, and the Committee shall establish the method prior to the Tax-Related Items withholding event.

Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable statutory withholding rates or other applicable withholding rates, including up to the maximum permissible statutory rate for Participant's  tax jurisdiction(s), in which case Participant may receive a refund of any over-withheld amount in cash and will have no entitlement to the equivalent in Shares. If the obligation for Tax-Related Items is satisfied by withholding in Shares upon receipt of approval by the Committee pursuant to (iii) above, for tax purposes, Participant is deemed to have been issued the full member of Shares issued upon exercise of the Options, notwithstanding that a number of the Shares are held back solely for the purpose of satisfying the withholding obligation for Tax-Related Items.

Finally, Participant agrees to pay to the Company or the Employer any amount of Tax‐Related Items that the Company or the Employer may be required to withhold or account for as a result of Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares, if Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

b.Notice of Disqualifying Disposition of ISO Shares.  For U.S. taxpayers, if Participant sells or otherwise disposes of any of the Shares acquired pursuant to an ISO on or before the later of (i) two years after the grant date, or (ii) one year after the exercise date, Participant shall immediately notify the Company in writing of such disposition. Participant agrees that he or she may be subject to income tax withholding by the Company on the compensation income recognized from such early disposition of ISO Shares by payment in cash or out of the current earnings paid to Participant by the Company and/or the Employer or any Parent, Subsidiary or Affiliate.

9.No Advice Regarding Grant.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Shares. Participant is hereby advised to consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan.

10.Appendix.  Notwithstanding any provisions in this Agreement, the Option grant shall be subject to any special terms and conditions set forth in any appendix to this Agreement for Participant’s country. Moreover, if Participant relocates to another country, the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Agreement.

11.Imposition of Other Requirements.  The Company reserves the right to impose other requirements on Participant’s participation in the Plan, on the Option and on any Shares purchased upon exercise of the Option, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

12.Acknowledgement.  The Company and Participant agree that the Option is granted under and governed by the Notice, this Agreement (including the Appendix) and by the provisions of the Plan (incorporated herein by reference). Participant:  (i) acknowledges receipt of a copy of the Plan and the Plan prospectus, (ii) represents that Participant has carefully read and is familiar with their provisions, and (iii) hereby accepts the Option subject to all of the terms and conditions set forth herein and those set forth in the Plan and the Notice.

13.Entire Agreement; Enforcement of Rights. This Agreement (including the Appendix), the Plan and the Notice constitute the entire agreement and understanding of the parties relating to the subject matter herein and supersede all prior discussions between them. Any prior agreements, commitments or negotiations concerning the purchase of the Shares hereunder are superseded. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing and signed by the parties to this Agreement. The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party.

14.Compliance with Laws and Regulations. The issuance of Shares and any restriction on the sale of Shares will be subject to and conditioned upon compliance by the Company and Participant with all applicable state, federal and foreign laws and regulations and with all applicable requirements of any stock exchange or automated quotation system on which the Company’s Shares may be listed or quoted at the time of such issuance or transfer.  Participant understands that the Company is under no obligation to register or qualify the Shares with any state, federal or foreign securities commission or to seek approval or clearance from any governmental authority for the issuance or sale of the Shares. Further, Participant agrees that the Company shall have unilateral authority to amend the Plan and this Agreement without Participant’s consent to the extent necessary to comply with securities or other laws applicable to issuance of Shares. Finally, the Shares issued pursuant to this Agreement shall be endorsed with appropriate legends, if any, determined by the Company.

15.Governing Law; Severability.  If one or more provisions of this Agreement are held to be unenforceable, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of this Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation shall be conducted only in the courts of San Jose, California, or the federal courts for the United States for the Northern District of California, and no other courts, where this grant is made and/or to be performed.

16.No Rights as Employee, Director or Consultant.  Nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company, or a Parent, Subsidiary or Affiliate, to terminate Participant’s Service, for any reason, with or without Cause.

17.Consent to Electronic Delivery of All Plan Documents and Disclosures. By Participant’s signature and the signature of the Company’s representative on the Notice, Participant and the Company agree that this Option is granted under and governed by the terms and conditions of the Plan, the Notice and this Agreement (including the Appendix). Participant has reviewed the Plan, the Notice and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing the Notice, and fully understands all provisions of the Plan, the Notice and this Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions relating to the Plan, the Notice and this Agreement. Participant further agrees to notify the Company upon any change in the residence address indicated on the Notice.

By acceptance of this Option, Participant agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company and consents to the electronic delivery of the Notice, the Appendix, this Agreement, the Plan, account statements, Plan prospectuses required by the U.S. Securities and Exchange Commission, U.S. financial reports of the Company, and all other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports and proxy statements) or other communications or information related to the Option. Electronic delivery may include the delivery of a link to a Company intranet or the internet site of a third party involved in administering the Plan, the delivery of the document via e-mail or such other delivery determined at the Company’s discretion.  Participant acknowledges that Participant may receive from the Company a paper copy of any documents delivered electronically at no cost if Participant contacts the Company by telephone, through a postal service or electronic mail to Stock Administration. Participant further acknowledges that Participant will be provided with a paper copy of any documents delivered electronically if electronic delivery fails; similarly, Participant understands that Participant must provide on request to the Company or any designated third party a paper copy of any documents delivered electronically if electronic delivery fails. Also, Participant understands that Participant’s consent may be revoked or changed, including any change in the electronic mail address to which documents are delivered (if Participant has provided an electronic mail address), at any time by notifying the Company of such revised or revoked consent by telephone, postal service or electronic mail to Stock Administration.

18.Award Subject to Company Clawback or Recoupment.  The Option shall be subject to clawback or recoupment pursuant to any compensation clawback or recoupment policy adopted by the Board or required by law during the term of Participant’s employment or other Service that is applicable to Participant.  In addition to any other remedies available under such policy, applicable law may require the cancellation of Participant’s Option (whether vested or unvested) and the recoupment of any gains realized with respect to Participant’s Option.

BY ACCEPTING THIS OPTION, PARTICIPANT AGREES TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

SERVICENOW, INC.
2021 EQUITY INCENTIVE PLAN
NOTICE OF GLOBAL STOCK OPTION GRANT

Unless otherwise defined herein, the terms defined in the ServiceNow, Inc. (the “Company”) 2021 Equity Incentive Plan (the “Plan”) shall have the same meanings in this Notice of Global Stock Option Grant and the electronic representation of this Notice of Global Stock Option Grant established and maintained by the Company or a third party designated by the Company (the “Notice”).

						
	Name:
	As set forth in the electronic representation of this Notice of Global Stock Option Grant.

                       
You (the “Participant”) have been granted an option to purchase shares of Common Stock of the Company under the Plan subject to the terms and conditions of the Plan, this Notice and the Global Stock Option Award Agreement, including any appendix to the Global Stock Option Award Agreement for Participant’s country (the “Appendix”) (the Stock Option Award Agreement and the Appendix are collectively referred to as the “Agreement”).

						
	Grant ID Number:	The “Grant Name” as set forth in the electronic representation of this Notice of Global Stock Option Grant.
	Date of Grant:	The “Grant Date” as set forth in the electronic representation of this Notice of Global Stock Option Grant.
	Exercise Price per Share:	US$ The “Exercise Price” as set forth in the electronic representation of this Notice of Global Stock Option Grant.
	Total Number of Shares:	The “Shares Granted” as set forth in the electronic representation of this Notice of Global Stock Option Grant.
	Type of Option:	The “Grant Type” as set forth in the electronic representation of this Notice of Global Stock Option Grant.
	Expiration Date:	The “Expiration” as set forth in the electronic representation of this Notice of Global Stock Option Grant.
	Vesting Schedule:
	Subject to the limitations set forth in this Notice, the Plan and the Agreement, the Option will vest and may be exercised, in whole or in part, as set forth in the Vesting Appendix. 

By accepting (whether in writing, electronically or otherwise) the Option, Participant acknowledges and agrees to the following:

Participant understands that Participant’s Service with the Company or a Parent, Subsidiary or Affiliate is for an unspecified duration and that nothing in this Notice, the Agreement or the Plan changes the nature of that relationship. Participant acknowledges that the vesting of the Options pursuant to this Notice is earned only by continuing Service as an Employee, Director or Consultant of the Company or a Parent, Subsidiary or Affiliate. To the extent permitted by applicable law, Participant agrees and acknowledges that the Vesting Schedule may change prospectively in the event that Participant’s Service status changes and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of Awards or as determined by the Committee to the extent permitted by applicable law. Furthermore, the period during which Participant may exercise the Option after such termination of Service will commence on the date 

Participant ceases to actively provide Services and will not be extended by any notice period mandated under employment laws in the jurisdiction where Participant is employed or terms of Participant’s employment agreement (e.g., Participant’s employment or consulting relationship or other Service with the Company would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where he or she is employed or the terms of his or her employment or service agreement, if any); the Committee shall have the exclusive discretion to determine when Participant is no longer actively providing Services for purposes of Participant’s Option grant (including whether Participant may still be considered to be providing Services while on a leave of absence). Participant also understands that this Notice is subject to the terms and conditions of both the Agreement and the Plan, both of which are incorporated herein by reference. Participant has read both the Agreement and the Plan. Participant has read the Company’s Insider Trading Policy and 10b5-1  Plan Guidelines, and agrees to comply with such policy, as it may be amended from time to time, whenever Participant acquires or disposes of the Company’s securities.  By accepting this Option, Participant consents to the electronic delivery as set forth in the Agreement.

SERVICENOW, INC.
2021 EQUITY INCENTIVE PLAN
GLOBAL STOCK OPTION AWARD AGREEMENT

Unless otherwise defined in this Global Stock Option Award Agreement (the “Agreement”), any capitalized terms used herein shall have the meaning ascribed to them in the ServiceNow, Inc. (the “Company”) 2021 Equity Incentive Plan (the “Plan”).

Participant has been granted an option to purchase Shares (the “Option”), subject to the terms and conditions of the Plan, the Notice of Global Stock Option Grant (the “Notice”) and this Agreement, including any appendix to this Agreement for Participant’s country (the “Appendix”).

1.Vesting Rights.  Subject to the applicable provisions of the Plan, the Notice and this Agreement, this Option may be exercised, in whole or in part, in accordance with the schedule set forth in the Notice.

2.Termination Period.

a.General Rule.  Except as provided below or in the Notice, and subject to the Plan, this Option may be exercised for 90 days after Participant’s termination of Service (the “Termination Date”). In no event shall this Option be exercised later than the Expiration Date set forth in the Notice, with any exercise beyond three (3) months after the Termination Date deemed to be the exercise of an NQSO. The Company determines when Participant’s Service terminates for all purposes under this Agreement.

b.Death; Disability.  Unless provided otherwise in the Notice, upon Participant’s termination of Service by reason of his or her death, or if a Participant dies within 90 days of the Termination Date, this Option may be exercised for twelve months, provided that in no event shall this Option be exercised later than the Expiration Date set forth in the Notice. Unless provided otherwise in the Notice, upon Participant’s termination of Service by reason of his or her Disability, this Option may be exercised for six months, provided that in no event shall this Option be exercised later than the Expiration Date set forth in the Notice, with any exercise of this Option beyond twelve (12) months after the date Participant ceases to be an employee when the termination is for Participant’s disability, within the meaning of Section 22(e)(3) of the Code, is deemed to be an NQSO.

c.Cause.  Upon Participant’s termination of Service for Cause (as defined in the Plan), the Option shall expire on such date of Participant’s Termination Date.

d.Cessation of Vesting; Determination.  Unless otherwise provided in the Notice or as may be determined by the Company, Participant’s right to vest in the Option, if any, will terminate as of the Termination Date and Participant’s right to exercise the Option after the Termination Date, if any, will be measured from the Termination Date.  In case of any dispute as to whether and when a termination of Service has occurred, the Committee will have sole discretion to determine whether such termination of Service has occurred and the effective date of such termination (including whether Participant may still be considered to be actively providing Services while on a leave of absence).

3.Grant of Option.  Participant named in the Notice has been granted an Option for the number of Shares set forth in the Notice at the exercise price per Share in U.S. Dollars set forth in the Notice (the “Exercise Price”). In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an ISO, to the extent that it exceeds the U.S. $100,000 rule of Code Section 422(d) it shall be treated as a Nonqualified Stock Option (“NQSO”).

4.Exercise of Option.

a.Right to Exercise.  This Option is exercisable during its term in accordance with the Vesting Schedule set forth in the Notice and the applicable provisions of the Plan and this Agreement. In the event of Participant’s death, termination of Service due to Disability, termination of Service for Cause or other termination of Service, the exercisability of the Option is governed by the applicable provisions of the Plan, the Notice and this Agreement.

b.Method of Exercise.  This Option is exercisable by delivery of an exercise notice in a form specified by the Company (the “Exercise Notice”), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be delivered in person, by mail, via electronic mail, transmission via online brokerage system or facsimile or by other authorized method to the Secretary of the Company or other person designated by the Company. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares together with any Tax-Related Items withholding (as defined in Section 8(a) below). This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price and payment of any Tax-Related Items.

c.No Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with all relevant provisions of law and the requirements of any stock exchange or quotation service upon which the Shares are then listed and any exchange control restrictions. Assuming such compliance, for income tax purposes the Exercised Shares shall be considered transferred to Participant on the date the Option is exercised with respect to such Exercised Shares.

d.Exercise by Another. Subject to Section 6 below, if another person wants to exercise this Option after it has been transferred to him or her in compliance with this Agreement, that person must prove to the Company’s satisfaction that he or she is entitled to exercise this Option. That person must also complete the proper Exercise Notice form (as described above) and pay the Exercise Price (as described below) and any applicable Tax-Related Items (as described below).

5.Method of Payment.  Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of Participant:

a.cash;

b.check;

c.“broker-assisted” or “same-day sale” (as described in Section 11(d) of the Plan); or

d. other method authorized by the Committee.

6.Limited Transferability of Option.  Except as set forth in this Section 6, this Option may not be transferred in any manner other than by will or by the laws of descent or distribution or court order and may be exercised during the lifetime of Participant only by Participant or unless otherwise permitted by the Committee on a case-by-case basis. The terms of the Plan and this Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of Participant. Notwithstanding anything else in this Section 6, for U.S. Participants, a NQSO may be transferred by instrument to an inter vivos or testamentary trust in which the NQSO is to be passed to beneficiaries upon the death of the trustor (settlor), to a guardian on the disability or to an executor on death of the NQSO holder, or by gift or pursuant to domestic relations orders to Participant’s “Immediate Family” (as defined below), provided that any such permitted transferees may not transfer NQSOs to parties other than Participant or Participant’s Immediate Family (transfers between a Participant’s Immediate Family and between a Participant’s Immediate Family and Participant are permitted). 

For the sake of clarification, multiple transfers of NQSOs may be made, by gift or pursuant to domestic relations orders, back and forth between Immediate Family and a Participant pursuant to this Section 6. “Immediate Family” means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, domestic partner sharing the same household, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law (including adoptive relationships), a trust in which these persons have more than fifty percent of the beneficial interest, a foundation in which these persons (or Participant) control the management of assets, and any other entity in which these persons (or Participant) own more than fifty percent of the voting interests. The terms of the Plan and this Agreement shall be binding upon the executors, administrators, heirs, transferees, successors and assigns of Participant.

7.Term of Option.  This Option shall in any event expire on the expiration date set forth in the Notice, which date is no later than 10 years after the Date of Grant (five years after the Date of Grant if this option is designated as an ISO in the Notice and Section 5.3 of the Plan applies).

8.Tax Consequences.

a.Exercising the Option.  Participant acknowledges that, regardless of any action taken by the Company or a Parent, Subsidiary or Affiliate of the Company employing or retaining Participant (the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax related items related to Participant’s participation in the Plan and legally applicable to Participant (“Tax-Related Items”) is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer, if any. Participant further acknowledges that the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of this Option, including, but not limited to, the grant, vesting or exercise of this Option, the subsequent sale of Shares acquired pursuant to such exercise and the receipt of any dividends; and (ii) do not commit to and are under no obligation to structure the terms of the grant or any aspect of this Option to reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result. Further, if Participant is subject to Tax-Related Items in more than one jurisdiction, Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.  PARTICIPANT SHOULD CONSULT A TAX ADVISER APPROPRIATELY QUALIFIED IN EACH OF THE JURISDICTIONS, INCLUDING COUNTRY OR COUNTRIES IN WHICH PARTICIPANT RESIDES OR IS SUBJECT TO TAXATION BEFORE EXERCISING THE OPTION OR DISPOSING OF THE SHARES

Prior to the relevant taxable or tax withholding event, as applicable, Participant agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following:

i.withholding from Participant’s wages or other cash compensation paid to Participant by the Company and/or the Employer;

ii.withholding from proceeds of the sale of Shares acquired at exercise of this Option either through a voluntary sale or through a mandatory sale arranged by the Company (on Participant’s behalf pursuant to this authorization) without further consent; 

iii.withholding Shares to be issued upon exercise of the Option, provided the Company only withholds the number of Shares necessary to satisfy no more than the maximum statutory withholding amounts; or

iv.any other arrangement approved by the Committee and permitted under applicable law;

all under such rules as may be established by the Committee and in compliance with the Company’s Insider Trading Policy and 10b5-1  Plan Guidelines, if applicable; provided however, that if Participant is a Section 16 officer of the Company under the Exchange Act, then the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) shall establish the method of withholding from alternatives (i)-(iv) above, and the Committee shall establish the method prior to the Tax-Related Items withholding event.

Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable statutory withholding rates or other applicable withholding rates, including up to the maximum permissible statutory rate for Participant's  tax jurisdiction(s), in which case Participant may receive a refund of any over-withheld amount in cash and will have no entitlement to the equivalent in Shares. If the obligation for Tax-Related Items is satisfied by withholding in Shares upon receipt of approval by the Committee pursuant to (iii) above, for tax purposes, Participant is deemed to have been issued the full member of Shares issued upon exercise of the Options, notwithstanding that a number of the Shares are held back solely for the purpose of satisfying the withholding obligation for Tax-Related Items.

Finally, Participant agrees to pay to the Company or the Employer any amount of Tax‐Related Items that the Company or the Employer may be required to withhold or account for as a result of Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares, if Participant fails to comply with his or her obligations in connection with the Tax-Related Items.

b.Notice of Disqualifying Disposition of ISO Shares.  For U.S. taxpayers, if Participant sells or otherwise disposes of any of the Shares acquired pursuant to an ISO on or before the later of (i) two years after the grant date, or (ii) one year after the exercise date, Participant shall immediately notify the Company in writing of such disposition. Participant agrees that he or she may be subject to income tax withholding by the Company on the compensation income recognized from such early disposition of ISO Shares by payment in cash or out of the current earnings paid to Participant by the Company and/or the Employer or any Parent, Subsidiary or Affiliate.

9.No Advice Regarding Grant.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Shares. Participant is hereby advised to consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan.

10.Appendix.  Notwithstanding any provisions in this Agreement, the Option grant shall be subject to any special terms and conditions set forth in any appendix to this Agreement for Participant’s country. Moreover, if Participant relocates to another country, the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Agreement.

11.Imposition of Other Requirements.  The Company reserves the right to impose other requirements on Participant’s participation in the Plan, on the Option and on any Shares purchased upon exercise of the Option, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

12.Acknowledgement.  The Company and Participant agree that the Option is granted under and governed by the Notice, this Agreement (including the Appendix) and by the provisions of the Plan (incorporated herein by reference). Participant:  (i) acknowledges receipt of a copy of the Plan and the Plan prospectus, (ii) represents that Participant has carefully read and is familiar with their provisions, and (iii) hereby accepts the Option subject to all of the terms and conditions set forth herein and those set forth in the Plan and the Notice.

13.Entire Agreement; Enforcement of Rights. This Agreement (including the Appendix), the Plan and the Notice constitute the entire agreement and understanding of the parties relating to the subject matter herein and supersede all prior discussions between them. Any prior agreements, commitments or negotiations concerning the purchase of the Shares hereunder are superseded. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing and signed by the parties to this Agreement. The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party.

14.Compliance with Laws and Regulations. The issuance of Shares and any restriction on the sale of Shares will be subject to and conditioned upon compliance by the Company and Participant with all applicable state, federal and foreign laws and regulations and with all applicable requirements of any stock exchange or automated quotation system on which the Company’s Shares may be listed or quoted at the time of such issuance or transfer.  Participant understands that the Company is under no obligation to register or qualify the Shares with any state, federal or foreign securities commission or to seek approval or clearance from any governmental authority for the issuance or sale of the Shares. Further, Participant agrees that the Company shall have unilateral authority to amend the Plan and this Agreement without Participant’s consent to the extent necessary to comply with securities or other laws applicable to issuance of Shares. Finally, the Shares issued pursuant to this Agreement shall be endorsed with appropriate legends, if any, determined by the Company.

15.Governing Law; Severability.  If one or more provisions of this Agreement are held to be unenforceable, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of this Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation shall be conducted only in the courts of San Jose, California, or the federal courts for the United States for the Northern District of California, and no other courts, where this grant is made and/or to be performed.

16.No Rights as Employee, Director or Consultant.  Nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company, or a Parent, Subsidiary or Affiliate, to terminate Participant’s Service, for any reason, with or without Cause.

17.Consent to Electronic Delivery of All Plan Documents and Disclosures. By Participant’s signature and the signature of the Company’s representative on the Notice, Participant and the Company agree that this Option is granted under and governed by the terms and conditions of the Plan, the Notice and this Agreement (including the Appendix). Participant has reviewed the Plan, the Notice and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing the Notice, and fully understands all provisions of the Plan, the Notice and this Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions relating to the Plan, the Notice and this Agreement. Participant further agrees to notify the Company upon any change in the residence address indicated on the Notice. By acceptance of this Option, Participant agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company and consents to the electronic delivery of the Notice, the Appendix, this Agreement, the Plan, account statements, Plan prospectuses required by the U.S. Securities and Exchange Commission, U.S. financial reports of the Company, and all other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports and proxy statements) or other communications or information related to the Option. Electronic delivery may include the delivery of a link to a Company intranet or the internet site of a third party involved in administering the Plan, the delivery of the document via e-mail or such other delivery determined at the Company’s discretion.  Participant acknowledges that Participant may receive from the Company a paper copy of any documents delivered electronically at no cost if Participant contacts the Company by telephone, through a postal service or electronic mail to Stock Administration. Participant further acknowledges that Participant will be provided with a paper copy of any documents delivered electronically if 

electronic delivery fails; similarly, Participant understands that Participant must provide on request to the Company or any designated third party a paper copy of any documents delivered electronically if electronic delivery fails. Also, Participant understands that Participant’s consent may be revoked or changed, including any change in the electronic mail address to which documents are delivered (if Participant has provided an electronic mail address), at any time by notifying the Company of such revised or revoked consent by telephone, postal service or electronic mail to Stock Administration.

18.Award Subject to Company Clawback or Recoupment.  The Option shall be subject to clawback or recoupment pursuant to any compensation clawback or recoupment policy adopted by the Board or required by law during the term of Participant’s employment or other Service that is applicable to Participant.  In addition to any other remedies available under such policy, applicable law may require the cancellation of Participant’s Option (whether vested or unvested) and the recoupment of any gains realized with respect to Participant’s Option.

BY ACCEPTING THIS OPTION, PARTICIPANT AGREES TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

SERVICENOW, INC.
2021 EQUITY INCENTIVE PLAN
NOTICE OF GLOBAL RESTRICTED STOCK UNIT AWARD

Unless otherwise defined herein, the terms defined in the ServiceNow, Inc. (the “Company”) 2021 Equity Incentive Plan (the “Plan”) shall have the same meanings in this Notice of Global Restricted Stock Unit Award and the electronic representation of this Notice of Global Restricted Stock Unit Award established and maintained by the Company or a third party designated by the Company (the “Notice”).

						
	Name:
	As set forth in the electronic representation of this Notice of Global Restricted Stock Unit Award.

                       
You (“Participant”) have been granted an award of Restricted Stock Units (“RSUs”) under the Plan subject to the terms and conditions of the Plan, this Notice and the Global Restricted Stock Unit Award Agreement, including any appendix to the Global Restricted Stock Unit Award Agreement for Participant’s country (the “Appendix”) (the Restricted Stock Unit Award Agreement and the Appendix are collectively referred to as the “Agreement”).

						
	Grant ID Number:	The “Grant Number” as set forth in the electronic representation of this Notice of Global Restricted Stock Unit Award.
	Number of RSUs:	The “Total Number of RSUs” as set forth in the electronic representation of this Notice of Global Restricted Stock Unit Award.
	Date of Grant:	The “Grant Date” as set forth in the electronic representation of this Notice of Global Restricted Stock Unit Award.
	Expiration Date:	The “Expiration” as set forth in the electronic representation of this Notice of Global Restricted Stock Unit Award.
	Vesting Schedule:	Subject to the limitations set forth in this Notice, the Plan and the Agreement, the RSUs will vest in accordance with the following schedule: [ServiceNow to insert vesting schedule, which may be time and/or performance based]

    
By accepting (whether in writing, electronically or otherwise) the RSUs, Participant acknowledges and agrees to the following: 

Participant understands that Participant’s Service with the Company or a Parent, Subsidiary or Affiliate is for an unspecified duration and that nothing in this Notice, the Agreement or the Plan changes the nature of that relationship. Participant acknowledges that the vesting of the RSUs pursuant to this Notice is earned only by continuing Service as an Employee, Director or Consultant of the Company or Parent, Subsidiary or Affiliate.  To the extent permitted by applicable law, Participant agrees and acknowledges that the Vesting Schedule may change prospectively in the event that Participant’s Service status changes and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of Awards or as determined by the Committee to the extent permitted by applicable law.  Participant also understands that this Notice is subject to the terms and conditions of both the Agreement and the Plan, both of which are incorporated herein by reference. Participant has read both the Agreement and the Plan. Participant has read the Company’s Insider Trading Policy and 10b5-1 Plan Guidelines, and agrees to comply with such policy, as it may be amended from time to time, whenever Participant acquires or disposes of the Company’s securities.  By accepting this RSU, Participant consents to the electronic delivery as set forth in the Agreement.

SERVICENOW, INC.
2021 EQUITY INCENTIVE PLAN
GLOBAL RESTRICTED STOCK UNIT AWARD AGREEMENT

Unless otherwise defined herein, the terms defined in the ServiceNow, Inc. (the “Company”) 2021 Equity Incentive Plan (the “Plan”) shall have the same defined meanings in this Global Restricted Stock Unit Award Agreement (the “Agreement”). 

Participant has been granted Restricted Stock Units (“RSUs”) subject to the terms, restrictions and conditions of the Plan, the Notice of Global Restricted Stock Unit Award (the “Notice”) and this Agreement, including any appendix to this Agreement for Participant’s country (the “Appendix”).

1.Settlement. The RSUs shall be settled on or as soon as administratively practicable following each vest date under the vesting schedule set forth in the Notice (and in no event later than 2 1/2 months following the end of the year in which such vest date occurs), provided that Participant continues to provide services to the Company or any Subsidiary or Affiliate through such vest date. Settlement of RSUs shall be in Shares. 

2.No Stockholder Rights. Unless and until such time as Shares are issued in settlement of vested RSUs, Participant shall have no ownership of the Shares allocated to the RSUs and shall have no right dividends or to vote such Shares.

3.Dividend Equivalents. Dividends, if any (whether in cash or Shares), shall not be credited to Participant.

4.Non-Transferability of RSUs. RSUs may not be transferred in any manner other than by will or by the laws of descent or distribution or court order or unless otherwise permitted by the Committee on a case-by-case basis.

5.Termination. If Participant’s Service Terminates for any reason, all unvested RSUs shall be forfeited to the Company forthwith, and all rights of Participant to such RSUs shall immediately terminate without payment of any consideration to Participant. In case of any dispute as to whether termination of Service has occurred, the Committee shall have sole discretion to determine whether such termination of Service has occurred and the effective date of such termination of Service.

6.Withholding Taxes. Participant acknowledges that, regardless of any action taken by the Company or, if different, Participant’s employer (the “Employer”) the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to Participant’s participation in the Plan and legally applicable to Participant (“Tax-Related Items”), is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer, if any. Participant further acknowledges that the Company and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSU, including, but not limited to, the grant, vesting or settlement of the RSU and the subsequent sale of Shares acquired pursuant to such settlement; and (2) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the RSU to reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result. Further, if Participant is subject to Tax-Related Items in more than one jurisdiction, Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.

Prior to any relevant taxable or tax withholding event, as applicable, Participant agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following: 

i.withholding from Participant’s wages or other cash compensation paid to Participant by the Company and/or the Employer; 

ii.withholding from proceeds of the sale of Shares acquired upon settlement of the RSU either through a voluntary sale or through a mandatory sale arranged by the Company (on Participant’s behalf pursuant to this authorization); 

iii.withholding in Shares to be issued upon settlement of the RSU, provided the Company only withholds the amount of Shares necessary to satisfy the minimum statutory withholding amounts; 

iv.Participant’s payment of a cash amount (including by check representing readily available funds or a wire transfer); or

v.any other arrangement approved by the Committee and permitted under applicable law;

all under such rules as may be established by the Committee and in compliance with the Company’s Insider Trading Policy and 10b5-1 Plan Guidelines, if applicable; provided however, that if Participant is a Section 16 officer of the Company under the Exchange Act, then the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) shall establish the method of withholding from alternatives (i) – (v) above, and the Committee shall establish such method prior to the Tax-Related Items withholding event, and unless determined otherwise by the Committee in advance of a Tax-Related Items withholding event, the method of withholding for this RSU will be (ii) above, if such Participant is located outside of the United States or (iii) above, if such Participant is located within the United States. 

The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts or other applicable withholding rates, including maximum applicable rates in Participant’s jurisdiction(s), in which case Participant may receive a refund of any over-withheld amount in cash and will have no entitlement to the equivalent in Shares. If the obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the vested RSU, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items. The Fair Market Value of these Shares, determined as of the effective date when taxes otherwise would have been withheld in cash, will be applied as a credit against the Tax-Related Items withholding.

Finally, Participant agrees to pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares, if Participant fails to comply with Participant’s obligations in connection with the Tax-Related Items.

7.No Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Shares. Participant should consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan.

8.Appendix. Notwithstanding any provisions in this Agreement, the RSUs grant shall be subject to any special terms and conditions set forth in any appendix to this Agreement for Participant’s country. Moreover, if Participant relocates to another country, the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Agreement.

9.Imposition of Other Requirements. The Company reserves the right to impose other requirements on Participant’s participation in the Plan, on the RSU and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

10.Acknowledgement. The Company and Participant agree that the RSUs are granted under and governed by the Notice, this Agreement (including the Appendix) and the provisions of the Plan. Participant: (i) acknowledges receipt of a copy of the Plan and the Plan prospectus, (ii) represents that Participant has carefully read and is familiar with their provisions, and (iii) hereby accepts the RSUs subject to all of the terms and conditions set forth herein and those set forth in the Plan and the Notice. 

11.Entire Agreement; Enforcement of Rights. This Agreement (including the Appendix), the Plan and the Notice constitute the entire agreement and understanding of the parties relating to the subject matter herein and supersede all prior discussions between them. Any prior agreements, commitments or negotiations concerning the purchase of the Shares hereunder are superseded. The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party.

12.Conditions to Issuance; Compliance with Laws and Regulations. The issuance of Shares and any restriction on the sale of Shares will be subject to and conditioned upon compliance by the Company and Participant with all applicable state, federal and foreign laws and regulations, with all applicable requirements of any stock exchange or automated quotation system on which the Company’s Shares may be listed or quoted at the time of such issuance or transfer and with any exchange control restrictions. Participant understands that the Company is under no obligation to register or qualify the Shares with any state, federal or foreign securities commission or to seek approval or clearance from any governmental authority for the issuance or sale of the Shares.  Further, Participant agrees that the Company shall have unilateral authority to amend the Plan and this Agreement without Participant’s consent to the extent necessary to comply with securities or other laws applicable to issuance of Shares.  Finally, the Shares issued pursuant to this Agreement shall be endorsed with appropriate legends, if any, determined by the Company. Further, notwithstanding any other provision of this Agreement, the Company shall not be required to issue Shares following the lapse of any such reasonable period of time following the vest date as the Company may from time to time establish for reasons of administrative convenience in accordance with Section 409A of the Code. 

13.Governing Law; Severability. If one or more provisions of this Agreement are held to be unenforceable, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of this Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation shall be conducted only in the courts of San Jose, California, or the federal courts for the United States for the Northern District of California, and no other courts, where this grant is made and/or to be performed. 

14.No Rights as Employee, Director or Consultant. Nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company, or a Parent, Subsidiary or Affiliate, to terminate Participant’s Service, for any reason, with or without Cause.

15.Consent to Electronic Delivery of All Plan Documents and Disclosures.  By Participant’s acceptance (whether in writing, electronically or otherwise) of the Notice, Participant and the Company agree that this RSU is granted under and governed by the terms and conditions of the Plan, the Notice and this Agreement (including the Appendix). Participant has reviewed the Plan, the Notice and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement, and fully understands all provisions of the Plan, the Notice and this Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions relating to the Plan, the Notice and this Agreement. Participant further agrees to notify the Company upon any change in Participant’s residence address. By acceptance of this RSU, Participant agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company and consents to the electronic delivery of the Notice, the Appendix, this Agreement, the Plan, account statements, Plan prospectuses required by the U.S. Securities and Exchange Commission, U.S. financial reports 

of the Company, and all other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports and proxy statements) or other communications or information related to the RSU. Electronic delivery may include the delivery of a link to a Company intranet or the internet site of a third party involved in administering the Plan, the delivery of the document via e-mail or such other delivery determined at the Company’s discretion.

16.Code Section 409A.  For purposes of this Agreement, a termination of employment will be determined consistent with the rules relating to a “separation from service” as defined in Section 409A of the Internal Revenue Code and the regulations thereunder (“Section 409A”).  Notwithstanding anything else provided herein, to the extent any payments provided under this Agreement in connection with Participant’s termination of employment constitute deferred compensation subject to Section 409A, and Participant is deemed at the time of such termination of employment to be a “specified employee” under Section 409A, then such payment shall not be made or commence until the earlier of (i) the expiration of the six-month period measured from Participant’s separation from service from the Company or (ii) the date of Participant’s death following such a separation from service; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to Participant including, without limitation, the additional tax for which Participant would otherwise be liable under Section 409A(a)(1)(B) in the absence of such a deferral.  To the extent any payment under this Agreement may be classified as a “short-term deferral” within the meaning of Section 409A, such payment shall be deemed a short-term deferral, even if it may also qualify for an exemption from Section 409A under another provision of Section 409A.  Payments pursuant to this section are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. 

17.Award Subject to Company Clawback or Recoupment.  The RSUs shall be subject to clawback or recoupment pursuant to any compensation clawback or recoupment policy adopted by the Board or required by law during the term of Participant’s employment or other Service that is applicable to Participant.  In addition to any other remedies available under such policy, applicable law may require the cancellation of Participant’s RSUs (whether vested or unvested) and the recoupment of any gains realized with respect to Participant’s RSUs.

BY ACCEPTING THIS AWARD OF RSUS, PARTICIPANT AGREES TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

SERVICENOW, INC.
2021 EQUITY INCENTIVE PLAN
NOTICE OF GLOBAL PERFORMANCE RESTRICTED STOCK UNIT AWARD

Unless otherwise defined herein, the terms defined in the ServiceNow, Inc. (the “Company”) 2021 Equity Incentive Plan (the “Plan”) shall have the same meanings in this Notice of Global Performance Restricted Stock Unit Award and the electronic representation of this Notice of Global Performance Restricted Stock Unit Award and the performance and vesting terms set forth in Appendix A attached hereto (the “Vesting Appendix”) established and maintained by the Company or a third party designated by the Company (the Notice of Global Performance Restricted Stock Unit Award and the Vesting Appendix are collectively referred to as the “Notice”).  

						
	Name:
	As set forth in the electronic representation of this Notice of Global Performance Restricted Stock Unit Award.

                       
You (“Participant”) have been granted an award of performance-based Restricted Stock Units (“PRSUs”) under the Plan subject to the terms and conditions of the Plan, this Notice and the Global Performance Restricted Stock Unit Award Agreement, including any appendix to the Global Performance Restricted Stock Unit Award Agreement for Participant’s country (the “Appendix”) (the Global Performance Restricted Stock Unit Award Agreement and the Appendix are collectively referred to as the “Agreement”).

						
	Grant ID Number:	The “Grant Number” as set forth in the electronic representation of this Notice of Global Performance Restricted Stock Unit Award.
	Number of PRSUs:	The “Target Number of PRSUs” as set forth in the electronic representation of this Notice of Global Performance Restricted Stock Unit Award.
	Date of Grant:	The “Grant Date” as set forth in the electronic representation of this Notice of Global Performance Restricted Stock Unit Award.
	Expiration Date:	The “Expiration” as set forth in the electronic representation of this Notice of Global Performance Restricted Stock Unit Award.
	Vesting Schedule:	Subject to the limitations set forth in this Notice, the Plan and the Agreement, the PRSUs will vest as set forth in the Vesting Appendix.

By accepting (whether in writing, electronically or otherwise) the PRSUs, Participant acknowledges and agrees to the following: 

Participant understands that Participant’s Service with the Company or a Parent, Subsidiary or Affiliate is for an unspecified duration and that nothing in this Notice, the Agreement or the Plan changes the nature of that relationship. Participant acknowledges that the vesting of the PRSUs pursuant to this Notice is earned only by both achievement of the performance metrics set forth in the Vesting Appendix and continuing Service as an Employee, Director or Consultant of the Company or Parent, Subsidiary or Affiliate.  To the extent permitted by applicable law, Participant agrees and acknowledges that the Vesting Schedule may change prospectively in the event that Participant’s Service status changes and/or in the event Participant is on a leave of absence, in accordance with Company policies relating to work schedules and vesting of Awards or as determined by the Committee to the extent permitted by applicable law. Participant also understands that this Notice is subject to the terms and conditions of both the Agreement and the Plan, both of which are incorporated herein by reference. Participant has read both the Agreement and the Plan. Participant has read the Company’s Insider Trading Policy and 10b5-1 Plan Guidelines, and agrees to comply with such policy, as it may be amended from time to time, whenever Participant acquires or disposes of the Company’s securities.  By accepting this PRSU, Participant consents to the electronic delivery as set forth in the Agreement.

VESTING APPENDIX

[ServiceNow to insert applicable performance metrics and vesting schedule.]

SERVICENOW, INC.
2021 EQUITY INCENTIVE PLAN
GLOBAL PERFORMANCE RESTRICTED STOCK UNIT AWARD AGREEMENT

Unless otherwise defined herein, the terms defined in the ServiceNow, Inc. (the “Company”) 2021 Equity Incentive Plan (the “Plan”) shall have the same defined meanings in this Global Performance Restricted Stock Unit Award Agreement (the “Agreement”). 

Participant has been granted performance-based Restricted Stock Units (“PRSUs”) subject to the terms, restrictions and conditions of the Plan, the Notice of Global Performance Restricted Stock Unit Award, including the Vesting Appendix attached thereto (the “Notice”) and this Agreement, including any appendix to this Agreement for Participant’s country (the “Appendix”).

1.Settlement. The PRSUs shall be settled on or as soon as administratively practicable following each vest date under the vesting schedule set forth in the Notice (and in no event later than 2 1/2 months following the end of the year in which such vest date occurs), provided that Participant continues to provide services to the Company or any Subsidiary or Affiliate through such vest date except as may be otherwise set forth in the Vesting Appendix. Settlement of PRSUs shall be in Shares. 

2.No Stockholder Rights. Unless and until such time as Shares are issued in settlement of vested PRSUs, Participant shall have no ownership of the Shares allocated to the PRSUs and shall have no right dividends or to vote such Shares.

3.Dividend Equivalents. Dividends, if any (whether in cash or Shares), shall not be credited to Participant.

4.Non-Transferability of PRSUs. PRSUs may not be transferred in any manner other than by will or by the laws of descent or distribution or court order or unless otherwise permitted by the Committee on a case-by-case basis.

5.Termination. If Participant’s Service Terminates for any reason, all unvested PRSUs shall be forfeited to the Company forthwith, and all rights of Participant to such PRSUs shall immediately terminate without payment of any consideration to Participant. In case of any dispute as to whether termination of Service has occurred, the Committee shall have sole discretion to determine whether such termination of Service has occurred and the effective date of such Termination.

6.Withholding Taxes. Participant acknowledges that, regardless of any action taken by the Company or, if different, Participant’s employer (the “Employer”) the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to Participant’s participation in the Plan and legally applicable to Participant (“Tax-Related Items”), is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or the Employer, if any. Participant further acknowledges that the Company and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the PRSU, including, but not limited to, the grant, vesting or settlement of the PRSU and the subsequent sale of Shares acquired pursuant to such settlement; and (2) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the PRSU to reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result. Further, if Participant is subject to Tax-Related Items in more than one jurisdiction, Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.

Prior to any relevant taxable or tax withholding event, as applicable, Participant agrees to make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following: 

i.withholding from Participant’s wages or other cash compensation paid to Participant by the Company and/or the Employer; 

ii.withholding from proceeds of the sale of Shares acquired upon settlement of the PRSU either through a voluntary sale or through a mandatory sale arranged by the Company (on Participant’s behalf pursuant to this authorization); 

iii.withholding in Shares to be issued upon settlement of the PRSU, provided the Company only withholds the amount of Shares necessary to satisfy the minimum statutory withholding amounts; 

iv.Participant’s payment of a cash amount (including by check representing readily available funds or a wire transfer); or

v.any other arrangement approved by the Committee and permitted under applicable law;

all under such rules as may be established by the Committee and in compliance with the Company’s Insider Trading Policy and 10b5-1 Plan Guidelines, if applicable; provided however, that if Participant is a Section 16 officer of the Company under the Exchange Act, then the Committee (as constituted in accordance with Rule 16b-3 under the Exchange Act) shall establish the method of withholding from alternatives (i) – (v) above, and the Committee shall establish such method prior to the Tax-Related Items withholding event, and unless determined otherwise by the Committee in advance of a Tax-Related Items withholding event, the method of withholding for this PRSU will be (ii) above, if such Participant is located outside of the United States or (iii) above, if such Participant is located within the United States. 

The Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts or other applicable withholding rates, including maximum applicable rates in Participant’s jurisdiction(s), in which case Participant may receive a refund of any over-withheld amount in cash and will have no entitlement to the equivalent in Shares. If the obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the vested PRSU, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items. The Fair Market Value of these Shares, determined as of the effective date when taxes otherwise would have been withheld in cash, will be applied as a credit against the Tax-Related Items withholding.

Finally, Participant agrees to pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of Participant’s participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares, if Participant fails to comply with Participant’s obligations in connection with the Tax-Related Items.

7.No Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Shares. Participant should consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan.

8.Appendix. Notwithstanding any provisions in this Agreement, the PRSUs grant shall be subject to any special terms and conditions set forth in any appendix to this Agreement for Participant’s country. Moreover, if Participant relocates to another country, the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Appendix constitutes part of this Agreement.

9.Imposition of Other Requirements. The Company reserves the right to impose other requirements on Participant’s participation in the Plan, on the PRSU and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

10.Acknowledgement. The Company and Participant agree that the PRSUs are granted under and governed by the Notice, this Agreement (including the Appendix) and the provisions of the Plan. Participant: (i) acknowledges receipt of a copy of the Plan and the Plan prospectus, (ii) represents that Participant has carefully read and is familiar with their provisions, and (iii) hereby accepts the PRSUs subject to all of the terms and conditions set forth herein and those set forth in the Plan and the Notice. 

11.Entire Agreement; Enforcement of Rights. This Agreement (including the Appendix), the Plan and the Notice constitute the entire agreement and understanding of the parties relating to the subject matter herein and supersede all prior discussions between them. Any prior agreements, commitments or negotiations concerning the purchase of the Shares hereunder are superseded. The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party.

12.Conditions to Issuance; Compliance with Laws and Regulations. The issuance of Shares and any restriction on the sale of Shares will be subject to and conditioned upon compliance by the Company and Participant with all applicable state, federal and foreign laws and regulations, with all applicable requirements of any stock exchange or automated quotation system on which the Company’s Shares may be listed or quoted at the time of such issuance or transfer and with any exchange control restrictions. Participant understands that the Company is under no obligation to register or qualify the Shares with any state, federal or foreign securities commission or to seek approval or clearance from any governmental authority for the issuance or sale of the Shares.  Further, Participant agrees that the Company shall have unilateral authority to amend the Plan and this Agreement without Participant’s consent to the extent necessary to comply with securities or other laws applicable to issuance of Shares.  Finally, the Shares issued pursuant to this Agreement shall be endorsed with appropriate legends, if any, determined by the Company. Further, notwithstanding any other provision of this Agreement, the Company shall not be required to issue Shares following the lapse of any such reasonable period of time following the vest date as the Company may from time to time establish for reasons of administrative convenience in accordance with Section 409A of the Code. 

13.Governing Law; Severability. If one or more provisions of this Agreement are held to be unenforceable, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of this Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation shall be conducted only in the courts of San Jose, California, or the federal courts for the United States for the Northern District of California, and no other courts, where this grant is made and/or to be performed. 

14.No Rights as Employee, Director or Consultant. Nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company, or a Parent, Subsidiary or Affiliate, to terminate Participant’s Service, for any reason, with or without Cause.

15.Consent to Electronic Delivery of All Plan Documents and Disclosures.  By Participant’s acceptance (whether in writing, electronically or otherwise) of the Notice, Participant and the Company agree that this PRSU is granted under and governed by the terms and conditions of the Plan, the Notice and this Agreement (including the Appendix). Participant has reviewed the Plan, the Notice and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement, and fully understands all provisions of the Plan, the Notice and this Agreement. Participant hereby agrees to accept as binding, 

conclusive and final all decisions or interpretations of the Committee upon any questions relating to the Plan, the Notice and this Agreement. Participant further agrees to notify the Company upon any change in Participant’s residence address. By acceptance of this PRSU, Participant agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company and consents to the electronic delivery of the Notice, the Appendix, this Agreement, the Plan, account statements, Plan prospectuses required by the U.S. Securities and Exchange Commission, U.S. financial reports of the Company, and all other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports and proxy statements) or other communications or information related to the PRSU. Electronic delivery may include the delivery of a link to a Company intranet or the internet site of a third party involved in administering the Plan, the delivery of the document via e-mail or such other delivery determined at the Company’s discretion.

16.Code Section 409A.  For purposes of this Agreement, a termination of employment will be determined consistent with the rules relating to a “separation from service” as defined in Section 409A of the Internal Revenue Code and the regulations thereunder (“Section 409A”).  Notwithstanding anything else provided herein, to the extent any payments provided under this Agreement in connection with Participant’s termination of employment constitute deferred compensation subject to Section 409A, and Participant is deemed at the time of such termination of employment to be a “specified employee” under Section 409A, then such payment shall not be made or commence until the earlier of (i) the expiration of the six-month period measured from Participant’s separation from service from the Company or (ii) the date of Participant’s death following such a separation from service; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to Participant including, without limitation, the additional tax for which Participant would otherwise be liable under Section 409A(a)(1)(B) in the absence of such a deferral.  To the extent any payment under this Agreement may be classified as a “short-term deferral” within the meaning of Section 409A, such payment shall be deemed a short-term deferral, even if it may also qualify for an exemption from Section 409A under another provision of Section 409A.  Payments pursuant to this section are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. 

17.Award Subject to Company Clawback or Recoupment.  The PRSUs shall be subject to clawback or recoupment pursuant to any compensation clawback or recoupment policy adopted by the Board or required by law during the term of Participant’s employment or other Service that is applicable to Participant.  In addition to any other remedies available under such policy, applicable law may require the cancellation of Participant’s PRSUs (whether vested or unvested) and the recoupment of any gains realized with respect to Participant’s PRSUs.

BY ACCEPTING THIS PRSU AWARD, PARTICIPANT AGREES TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

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