Document:

EX-10.4

 Exhibit 10.4 

AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT 

THIS AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of the 28th day of April, 2014
(the “Effective Date”), by and between Provectus Biopharmaceuticals, Inc., a Delaware corporation (the “Company”), and Peter R. Culpepper, CPA, MBA, a resident of Knoxville, Tennessee (“Employee”).

 WHEREAS, the Company is a development-stage biopharmaceutical company that is primarily engaged in the business of developing
prescription drug candidates PV-10 and PH-10, which are ethical pharmaceuticals for treatment of cancers and chronic severe skin afflictions such as psoriasis and atopic dermatitis, a type of eczema. For purposes of this Agreement, and specifically
the restrictive covenants set forth herein, the aforementioned activities and all related activities, of whatever nature, either being performed or planned by the Company during any part of the term of this Agreement are to be considered as part of
“the Business” protected by this Agreement (sometimes also referred to as “the Company’s Business”); 

WHEREAS, the Company and Employee previously entered into that certain Executive Employment Agreement, dated as of July 1, 2013 (the
“Prior Agreement”); 
 WHEREAS, the Company desires to continue to retain Employee as its Chief Financial Officer and Chief
Operating Officer, and Employee desires to be so employed by the Company, subject to the terms, conditions and covenants hereinafter set forth; and 

WHEREAS, the Company and Employee desire to amend and restate the Prior Agreement to set forth the terms and conditions pursuant to which the
Company will continue to retain Employee as its Chief Financial Officer and Chief Operating Officer. 
 AGREEMENT 

NOW, THEREFORE, for and in consideration of the premises, and the agreements, covenants, representations and warranties hereinafter set forth,
and other good and valuable consideration, the receipt and adequacy all of which are forever acknowledged and confessed, the parties hereto hereby agree as follows as of the Effective Date: 

Section 1. Employment. In reliance on the representations and warranties made herein, the Company hereby agrees to retain Employee to be its Chief
Financial Officer and Chief Operating Officer, to perform such duties and services that are consistent with the position of Chief Financial Officer and Chief Operating Officer as may from time to time be assigned to Employee by the Chief Executive
Officer and/or the Company’s Board of Directors (the “Board”). 
 Section 2. Performance. Employee shall use
Employee’s best efforts and skills, on a full-time basis, to perform the duties of his employment, as they may be established from time to time by the Board, consistent with the position and office of Chief Financial Officer and Chief Operating
Officer occupied by the Employee. Employee shall obey all rules and regulations of the Company, follow all laws and regulations of appropriate government authorities, and be governed by any and all decisions and instructions of the Board. 

 Section 3. Compensation. Except as otherwise provided for herein, for all services to be performed by
Employee in any capacity hereunder, including without limitation any services as an officer, director, member of any committee, or any other duties assigned him, throughout the Employment Period (as defined herein), the Company shall pay or provide
Employee with the following, and Employee shall accept the same, as compensation for the performance of his undertakings and the services to be rendered by him: 

(a) Base Salary. Employee will be entitled to an annual gross salary of Five-Hundred Thousand Dollars and no cents ($500,000.00) (the
“Base Salary”), which shall be paid in accordance with the Company’s policies and procedures. Any and all increases to Employee’s Base Salary shall be determined by the Compensation Committee of the Company’s Board of
Directors (the “Committee”) in its sole discretion. 
 (b) Bonus. In addition to the Base Salary,
prior to the end of each fiscal year, Employee shall be eligible to receive an annual bonus (the “Annual Bonus”) based upon achievement of performance criteria established by the Committee; provided,
however, that the performance criteria required to be satisfied before any Annual Bonus may be paid, and the amount and terms of any Annual Bonus based upon the extent to which those performance criteria are achieved or exceeded
shall be determined by the Committee in its sole discretion. 
 (c) Equity Awards. With respect to each fiscal year of
the Company ending during the Employment Period, Employee shall be eligible to receive an annual equity incentive award upon the terms and conditions as determined in the sole discretion of the Committee. 

(d) Benefit Plans. Employee shall receive, subject to the applicable plan, contract, policy or agreement terms, the benefit of all
available employee benefit plans, policies, practices, and arrangements, as may be offered by the Company from time to time, including without limitation any stock option or equity plan, defined benefit retirement plan, excess or supplementary plan,
profit sharing plan, savings plan, health and dental plan, disability plan, survivor income and life insurance plan, executive financial planning program, other arrangement, or any successors thereto (collectively hereinafter referred to as the
“Benefit Plans”). Employee’s eligibility and entitlement to any compensation or benefit shall be determined in accordance with the terms and conditions of the Benefit Plans and other applicable programs, practices, and
arrangements then in effect. 
 (e) Vacation and Fringe Benefits. The Employee will be entitled to paid vacations in accordance with
policies adopted by the Company with regard to its executives generally. All fringe benefits and perquisites will be in accordance with the Company’s existing policies, and the same may be amended from time to time, in the Company’s
discretion. 
 (f) Withholding Taxes. The Company shall have the right to deduct from all payments made to Employee hereunder any
federal, state, or local taxes required by law to be withheld. 
 (g) Expenses. During Employee’s employment, the Company shall
promptly pay or reimburse Employee for all reasonable out-of-pocket expenses incurred by Employee in the 

  
 2 

 
performance of his duties hereunder in accordance with the Company’s policies and procedures then in effect. Such policies will be subject to change in the Company’s discretion. 

Section 4. Restrictions. 
 (a)
Acknowledgements. Employee acknowledges and agrees that during the term of Employee’s employment because of the nature of Employee’s responsibilities and the resources provided by the Company: (1) Employee will acquire valuable
and confidential skills, information, trade secrets, and relationships with respect to the Company’s business practices and operations; (2) Employee may develop on behalf of the Company a personal acquaintance and/or relationship with
various persons, including, but not limited to, customers and suppliers, which acquaintances may constitute Employee’s only contact with such persons, and, as a consequence of the foregoing, (3) Employee will occupy a position of trust and
confidence with respect to the Company’s affairs and the Business involved, as described earlier, throughout the entire world; (4) the Company’s competitors, both in the United States and internationally, consist of both domestic and
international businesses, and the services to be performed by Employee for the Company involve aspects of both the Company’s domestic and international business; and (5) it would be impossible or impractical for Employee to perform his
duties for the Company without access to the Company’s confidential and proprietary information and contact with persons that are valuable to the goodwill of the Company. Therefore, Employee acknowledges that if he went to work for or otherwise
performed services for a third party engaged in a business similar to the Business of the Company, the disclosure by Employee to a third party of such confidential and proprietary information and/or the exploitation of such relationships would be
inevitable. 
 (b) Reasonableness. In view of the foregoing and in consideration of the remuneration to be paid to Employee, Employee
agrees that it is reasonable and necessary for the protection of the goodwill and business of the Company that Employee make the covenants contained in this Agreement regarding the conduct of Employee during and subsequent to Employee’s
employment by the Company, and that the Company will suffer irreparable injury if Employee engages in conduct prohibited by this Agreement. 

(c) Non-Compete. During the term of Employee’s employment by the Company, and for a period of twenty-four (24) months
following termination of employment, in the event that Employee voluntarily terminates his employment with the Company other than for Good Reason (as defined below) or Employee is terminated for Cause (as defined below), neither Employee nor any
other person or entity with Employee’s assistance, shall manage, operate, control, be employed by, solicit sales for, participate in, advise, consult with, or be connected with the ownership, management, operation, or control of any business
within the United States which is engaged, in whole or in part, in any business that is directly competitive with the Company’s Business or any portion thereof. 

(d) No Solicitation. In addition, during the term of Employee’s employment by the Company, and for a period of twenty-four
(24) months following termination of employment, in the event that Employee voluntarily terminates his employment with the Company or Employee is terminated for Cause, neither Employee nor any person or entity with his assistance nor any entity
which Employee or any person with his assistance or any person who he directly or 

  
 3 

 
indirectly controls shall, directly or indirectly, (1) solicit or take any action to induce any employee of the Company to quit or terminate their employment with the Company or the
Company’s affiliates, or (2) employ as an employee, independent contractor, consultant, or in any other position, any person who was an employee of the Company or the Company’s affiliates within the preceding six months, provided
that this paragraph will not prevent the Employee or any other person or entity from providing employment to a person who applied for the employment in response a job listing that was not directed primarily at employees or former employees of
the Company. 
 (e) Confidentiality. Without the express written consent of the Company, Employee shall not at any time (either
during or after the termination of Employee’s employment) use (other than for the benefit of the Company) or disclose to any other business entity proprietary or confidential information concerning the Company, any of their affiliates, or any
of its officers. Neither shall Employee disclose any of the Company’s or the Company’s affiliates’ trade secrets or inventions of which Employee has gained knowledge during his employment with the Company. This paragraph shall not
apply to any such information that: (1) Employee is required to disclose by law; (2) has been otherwise disseminated, disclosed, or made available to the public; or (3) was obtained after his employment with the Company ended and from
some source other than the Company, which source was under no obligation of confidentiality of which the Employee is aware. 
 (f) Effect
of Breach. Employee agrees that a breach of any obligation in this Section 4 cannot adequately be compensated by money damages and, therefore, the Company shall be entitled, in addition to any other right or remedy available to it
(including, but not limited to, an action for damages), to an injunction restraining such breach or a threatened breach and to specific performance of such provisions, and Employee hereby consents to the issuance of such injunction and to the
ordering of specific performance, without the requirement of the Company to post any bond or other security. 
 (g) Other Rights
Preserved. Nothing in this Section 4 eliminates or diminishes rights which the Company may have with respect to the subject matter hereof under other agreements, the governing statutes, or under provisions of law, equity, or otherwise.
Without limiting the foregoing, this section does not limit any rights the Company may have under any agreement with Employee regarding trade secrets and confidential information. 

Section 5. Termination. This Agreement shall terminate upon the following circumstances: 

(a) General. This Agreement shall be effective as of the Effective Date and shall terminate on the fifth anniversary following the
Effective Date, unless terminated earlier as provided hereunder (the “Employment Period”); provided, however, that this Agreement shall be automatically renewed for successive one (1) year periods, unless Employee or the
Company notifies the other in writing at least 120 days prior to the termination date of the Agreement of the party’s intent not to renew this Agreement, in which event this Agreement shall terminate on the termination date. 

  
 4 

 (b) Termination for Good Reason. This Agreement, and the Employee’s employment under
it, may be terminated by the Employee at any time for Good Reason (as that term is defined in Section 6(c)). 
 (c) Termination
Without Cause. This Agreement, and the Employee’s employment under it, may be terminated by the Company without Cause but subject to the provisions of this Agreement. It is expressly understood that Employee’s employment is strictly
“at will.” 
 (d) Cause. This Agreement may be terminated at any time by the Company for Cause. “Cause” for this
purpose shall mean (i) Employee committing a material breach of this Agreement and failing to cure that breach, or to discontinue the activity that is breaching this Agreement, within 30 days after being notified by the Company that failure to
cure the breach or to discontinue the breaching activity will result in termination of this Agreement for Cause, or (ii) conviction of the Employee of a crime involving moral turpitude, including such acts as fraud or dishonesty, or
(iii) the commission by the Employee of a felony, or (iv) Employee willfully or recklessly refusing to perform the material duties reasonably assigned to him by the Company’s Board that are consistent with the provisions of this
Agreement, when such willful or reckless refusal does not result from a Disability, or (v) Employee’s continued willful or gross malfeasance or nonfeasance of the material duties reasonably assigned to him by the Company’s Board that
are consistent with the provisions of this Agreement, when such malfeasance or nonfeasance does not result from a Disability. 
 (e)
Death/Disability. This Agreement may be terminated by the Company upon Employee’s death or his being unable to render the services required to be rendered by him during the Employment Period for a period of one hundred eighty
(180) days during any twelve-month period (“Disability”). 
 (f) Implied Covenant of Good Faith and Fair
Dealing. The parties acknowledge that the State of Tennessee recognizes that an implied covenant of good faith and fair dealing is a part of every contract, even an employee at will contract. Although such covenant cannot change the express
terms of this contract, such covenant applies to this contract. 
 Section 6. Effect of Termination. 

(a) If Employee’s employment is terminated (i) voluntarily by Employee without Good Reason, or (ii) by the Company for Cause,
the Company shall pay Employee’s compensation only through the last day of the Employment Period and, except as may otherwise be expressly provided in this Agreement or in any Benefit Plan, the Company shall have no further obligation to
Employee. 
 (b) If Employee’s employment is terminated by the Company other than for Cause, including any discharge without Cause,
liquidation or dissolution of the Company (other than due to bankruptcy), discharge within six (6) months following a Change of Control (as defined below), or a termination caused by death or Disability, or if Employee voluntarily resigns for
Good Reason, for so long as Employee is not in breach of his continuing obligations under Section 4, the Company shall continue to pay Employee (or his estate) an amount equal to his Base Salary in effect immediately prior to the termination of
his employment for a period of 

  
 5 

 
twenty-four (24) months, to be paid in accordance with the Company’s regular payroll practices through the end of the fiscal year in which termination occurs and then in one lump sum
payable to Employee in the first month of the fiscal year following termination, as well as pro rated bonuses based upon the bonuses paid with regard to the prior fiscal year, plus benefits on a substantially equivalent basis to those which would
have been provided to Employee in accordance with the Benefit Plans described in Section 3(d) of this Agreement. Except as may otherwise be expressly provided in this Agreement, the Company shall have no further obligation to Employee. 

 

	 	(c)	For purposes of this Agreement, “Good Reason” shall mean: 

  

	 	(i)	a material reduction in the Employee’s duties or responsibilities to which he does not agree in advance; 

  

	 	(ii)	any failure by the Company to comply with any material provision of this Agreement other than an isolated, insubstantial and inadvertent failure not occurring in bad faith that is remedied by the Company promptly after
receipt of notice thereof given by Employee; or 

  

	 	(iii)	the requirement by the Company to which the Employee does not consent in advance that the Employee relocate his principal place of employment to a location more than fifty (50) miles outside of Knoxville,
Tennessee. 

 For purposes of this Agreement, “Change of Control” shall mean the sale of all or substantially all the assets of the
Company; any merger, consolidation or acquisition of the Company with, by or into another corporation, entity or person; or after the effective date of this Agreement, any “person” (as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”)) becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 35% or more of
the voting power of the then outstanding securities of the Company. 
 A resignation by the Employee for Good Reason will not become effective until at
least 10 days after the Employee notifies the Company of that resignation. In the event that within ten days after the notice from the Employee, the Company challenges Employee’s determination that there is Good Reason, the resignation will be
suspended and will not become effective until such, if any, time as it is determined by an agreement between the Employee and the Company that is approved by the Company’s Board, or through the procedures described in Section 8, that there
is Good Reason, at which time the resignation will become effective and will be deemed to constitute a termination of employment by the Employee for Good Reason. If the Company does not challenge the Employee’s determination that there is Good
Reason within that ten day period, the Company will be conclusively deemed for all purposes to have agreed that there is Good Reason. While a resignation for Good Reason is suspended, the Employee will continue to be employed by the Company under
this Agreement and the Employee and the Company will have all the rights and obligations provided in this Agreement. 
 (d) On termination
of employment, Employee (or if terminated by death or Disability, his executor or his authorized agent) shall deliver all trade secrets, confidential information, 

  
 6 

 
records, notes, data, memoranda, and equipment of any nature that are in Employee’s (or his estate’s) possession or under his control and that are the property of the Company or relate
to the business of the Company. 
 (e) The obligations of Section 4 through Section 9 of this Agreement shall survive the
expiration or termination of this Agreement. 
 Section 7. Representations and Warranties. 

(a) No Conflicts. Employee represents and warrants to the Company that Employee is under no duty (whether contractual, fiduciary, or
otherwise) that would prevent, restrict, or limit Employee from fully performing all duties and services for the Company, and the performance of such duties and services shall not conflict with any other agreement or obligation to which Employee is
bound. 
 (b) No Hardship. Employee represents and acknowledges that Employee’s experience and/or abilities are such that
observance of the covenants contained in this Agreement will not cause Employee any undue hardship nor will they unreasonably interfere with Employee’s ability to earn a livelihood. 

Section 8. Alternative Dispute Resolution. 

(a) Mediation. Employee and the Company agree to submit, prior to arbitration, all unsettled claims, disputes, controversies, and other
matters in question between them arising out of or relating to this Agreement (including but not limited to any claim that the Agreement or any of its provisions is invalid, illegal, or otherwise voidable or void or any claim by the Employee that he
is entitled to resign for Good Reason) or the dealings or relationship between Employee and the Company (“Disputes”) to mediation in Knoxville, Tennessee, and in accordance with the Commercial Mediation Rules of the American
Arbitration Association in effect at the time. The mediation shall be private, confidential, voluntary, and nonbinding. Any party may withdraw from the mediation at any time before signing a settlement agreement upon written notice to the other
party and to the mediator. The mediator shall be mutually selected by and agreed upon by both Employee and the Company and shall be neutral and impartial. The mediator shall be disqualified as a witness, consultant, expert, or counsel for either
party with respect to the matters in Dispute and any related matters. The Company and Employee shall pay their respective attorneys’ fee and other costs associated with the mediation, and the Company and Employee shall equally bear the costs
and fees of the mediator. If a Dispute cannot be resolved through mediation within ninety (90) days of being submitted to mediation, the parties agree to submit the Dispute to arbitration. 

(b) Arbitration. Subject to Section 8(a), all Disputes will be submitted for binding arbitration to the American Arbitration
Association on demand of either party. Such arbitration proceeding will be conducted in Knoxville, Tennessee, and, except as otherwise provided in this Agreement, will be heard by one (1) arbitrator in accordance with the Commercial Arbitration
Rules of the American Arbitration Association then in effect. All matters relating to arbitration will be governed by the Federal Arbitration Act (9 U.S.C. §§ 1 et. seq.) and not by any state arbitration law. The arbitrator will have the
right to 

  
 7 

 
award or include in his award any relief which he deems proper under the circumstances, including, without limitation, money damages (with interest on unpaid amounts from the date due), specific
performance, injunctive relief, and other enforcement of this Agreement, reasonable attorneys’ fees and costs, provided that the arbitrator will not have the right to amend or modify the terms of this Agreement. The award and decision of the
arbitrator will be conclusive and binding upon all parties hereto, and judgment upon the award may be entered in any court of competent jurisdiction. Except as specified above, the Company and Employee shall pay their respective attorneys’ fee
and other costs associated with the arbitration, and the Company and Employee shall equally bear the costs and fees of the arbitrator. 

(c) Confidentiality. Employee and the Company agree that they will not disclose, or permit those acting on their behalf to disclose,
any aspect of the proceedings under Section 8(a) and Section 8(b), including but not limited to the resolution or the existence or amount of any award, to any person, firm, organization, or entity of any character or nature, unless
divulged (i) to an agency of the federal or state government, (ii) pursuant to a court order, (iii) pursuant to a requirement of law, (iv) pursuant to prior written consent of the other of the Company or Employee, or (v) in
connection with a legal proceeding to enforce a settlement agreement or arbitration award. This provision is not intended to prohibit nor does it prohibit Employee’s or the Company’s disclosures of the terms of any settlement or
arbitration award to their attorney(s), accountant(s), financial advisor(s), or family members, provided that they comply with the provisions of this paragraph. 

(d) Injunctions. Notwithstanding anything to the contrary contained in this Section 8, the Company and Employee shall have the
right in a proper case to obtain temporary restraining orders and temporary or preliminary injunctive relief from a court of competent jurisdiction; provided, however, that the moving party must contemporaneously submit the Dispute(s) for
non-binding mediation under Section 8(a) and then for arbitration under Section 8(b) on the merits as provided herein if such Disputes cannot be resolved through mediation. 

Section 9. General. 
 (a)
Notices. All notices required or permitted under this Agreement shall be in writing, may be made by personal delivery or facsimile or email transmission, effective on the day of such delivery or receipt of such transmission, or may be mailed
by registered or certified mail, effective two (2) business days after the date of mailing, addressed as follows: 
 To the Company:

 PROVECTUS BIOPHARMACEUTICALS, INC. 

7327 Oak Ridge Highway, Suite A 

Knoxville, TN 37931 

Attn: Chief Financial Officer 

or such other person or address as designated in writing to Employee. 

  
 8 

 To Employee: 

Peter R. Culpepper, CPA, MBA 

Provectus Biopharmaceuticals, Inc. 

7327 Oak Ridge Highway, Suite A 

Knoxville, TN 37931 

or to such other address as designated by him in writing to the Company. 

(b) Successors. This Agreement shall not be assignable or transferable (whether by pledge, grant of a security interest, sales contract
or otherwise) by the Company, except that the Company may assign this agreement to a successor which acquires all or substantially all of the Company’s Business and which agrees in writing to be bound by, and fulfill the Company’s
obligations under, this Agreement. This Agreement shall be binding upon and shall inure to the benefit of the Company, its permitted successors and assigns, and the Employee and his heirs or legatees. If Employee dies during the term of this
Agreement, the obligation to pay salary and provide benefits shall immediately cease; and, absent actual notice of any probate proceeding, the Company shall pay any compensation due for the period preceding Employee’s death to the following
person(s) in order of preference: (i) spouse of Employee; (ii) children of Employee eighteen years of age and over, in equal shares; (iii) brothers, in equal shares; or (d) the person to whom funeral expenses are due. Upon
payment of such sum, the Company shall be relieved of all further obligations hereunder. 
 (c) Waiver, Modification, and
Interpretation. No provisions of this Agreement may be modified, waived, or discharged unless such waiver, modification, or discharge is agreed to in a writing signed by Employee and an appropriate officer of the Company empowered to sign the
same by the Committee. No waiver by either party at any time of any breach by the other party of, or compliance with, any condition or provision of this Agreement to be performed by the other party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the same time or at any prior to subsequent time. The validity, interpretation, construction, and performance of this Agreement shall be governed by the laws of the State of Tennessee. Except as provided in
Section 8, any action brought to enforce or interpret this Agreement shall be maintained exclusively in the state and federal courts located in Knoxville, Tennessee. 

(d) Interpretation. The headings contained herein are for reference purposes only and shall not in any way affect the meaning or
interpretation of any provision of this Agreement. No provision of this Agreement shall be interpreted for or against any party hereto on the basis that such party was the draftsman of such provision; and no presumption or burden of proof shall
arise disfavoring or favoring any party by virtue of the authorship of any of the provisions of this Agreement. 
 (e) Counterparts.
The Company and Employee may execute this Agreement in any number of counterparts, each of which shall be deemed to be an original but all of which shall constitute but one instrument. In proving this Agreement, it shall not be necessary to produce
or account for more than one such counterpart. 

  
 9 

 (f) Invalidity of Provisions. If a court of competent jurisdiction shall declare that any
provision of this Agreement is invalid, illegal, or unenforceable in any respect, and if the rights and obligations of the Parties to this Agreement will not be materially and adversely affected thereby, in lieu of such illegal, invalid, or
unenforceable provision the court may add as a part of this Agreement a legal, valid, and enforceable provision as similar in terms to such illegal, invalid, or unenforceable provision as is possible. If such court cannot so substitute or declines
to so substitute for such invalid, illegal, or unenforceable provision, (i) such provision will be fully severable; (ii) this Agreement will be construed and enforced as if such illegal, invalid, or unenforceable provision had never
comprised a part hereof; and (iii) the remaining provisions of this Agreement will remain in full force and effect and not be affected by the illegal, invalid, or unenforceable provision or by its severance herefrom. The covenants contained in
this Agreement shall each be construed to be a separate agreement independent of any other provision of this Agreement, and the existence of any claim or cause of action of Employee against the Company, predicated on this Agreement or otherwise,
shall not constitute a defense to the enforcement by the Company of any of said covenants. 
 (g) Entire Agreement. This Agreement
and the Recitals (together with the documents expressly referenced herein) constitute the entire agreement between the parties, supersedes in all respects any prior agreement between the Company and Employee and may not be changed except by a
writing duly executed and delivered by the Company and Employee in the same manner as this Agreement. This Agreement amends and restates, but does not novate, the Prior Agreement. 

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

 
  
  

 

			
	PROVECTUS BIOPHARMACEUTICALS, INC.
		
	By:	 	/s/ Timothy C. Scott, Ph.D.
	Name:	 	Timothy C. Scott, Ph.D.
	Title:	 	President
		 	
	
	EMPLOYEE
	
	/s/ Peter R. Culpepper
	Peter R. Culpepper, CPA, MBA
		 	

  
 10EX-4.1

 Exhibit 4.1 

Execution Version 

FOURTH SUPPLEMENTAL INDENTURE 

FOURTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of April 30, 2014, by and among BEAM
SUNTORY INC., a Delaware corporation (formerly known as Beam Inc., formerly American Brands, Inc.) (the “Company”), SUNTORY HOLDINGS LIMITED, a Japanese corporation (kabushiki kaisha) (“Parent”), and THE BANK
OF NEW YORK MELLON, as trustee (as successor to The Chase Manhattan Bank, formerly known as Chemical Bank, which was a successor by merger to Manufacturers Hanover Trust Company) (the “Trustee”). Capitalized terms used but not
defined herein shall have the meanings ascribed to such terms in the Indenture (as defined below). 
 RECITALS OF THE COMPANY AND PARENT

 WHEREAS, the Company and the Trustee have entered into an Indenture dated as of July 15, 1988, a First Supplemental Indenture
dated as of November 14, 1990, a Second Supplemental Indenture dated as of September 1, 1991 and a Third Supplemental Indenture dated as of May 28, 1997 (hereinafter, collectively, the “Indenture”); 

WHEREAS, pursuant to Section 9.01(3) of the Indenture, without the consent of the Holders, the Company, when authorized by a Board
Resolution, and the Trustee may enter into a supplemental indenture to amend and supplement the Indenture to make any provisions with respect to matters arising under the Indenture in such manner as shall not adversely affect the interests of the
Holders of Outstanding Securities of any series in any material respect; 
 WHEREAS, the Company, Parent and SUS Merger Sub Limited, a
Delaware corporation and a wholly-owned subsidiary of Parent (“Merger Sub”), have entered into that certain Agreement and Plan of Merger, dated as of January 12, 2014 (as amended, modified or supplemented from time to time, the
“Merger Agreement”), pursuant to which, as of April 30, 2014, Merger Sub has merged with and into the Company, resulting in the Company surviving as a wholly-owned subsidiary of Parent; 

WHEREAS, Parent wishes to fully and unconditionally guarantee the Company’s payment obligations under the Securities and the Indenture
pursuant to the terms set forth herein; 
 WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and
deliver this Supplemental Indenture; and 
 WHEREAS, the Company and Parent have requested and hereby request that the Trustee join in the
execution and delivery of this Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties hereto mutually covenant and agree, for the equal and ratable benefit of the Holders, as follows: 

 ARTICLE ONE 

AMENDMENTS 

SECTION 1.1. Definitions. Section 1.01 of the Indenture is hereby amended by adding the following definitions in their
proper alphabetical order: 
 “Parent” means Suntory Holdings Limited, a Japanese corporation (kabushiki kaisha),
until a successor replaces it and, thereafter, means such successor. 
 “Parent Guarantee” means the guarantee by Parent, on
a senior unsecured basis, of the payment obligations of the Company under this Indenture and any Outstanding Securities, as provided in Article Sixteen hereof. 

SECTION 1.2 Parent Guarantee. The following “ARTICLE SIXTEEN” shall be added to the Indenture between ARTICLE FIFTEEN thereof
and the TESTIMONIUM thereof: 
 “ARTICLE SIXTEEN 

GUARANTEES 

Section 16.01. Parent Guarantee. Parent hereby agrees as follows: 

(a) Subject to this Article Sixteen, Parent hereby unconditionally guarantees to each Holder of a Security authenticated and
delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Securities or the obligations of the Company hereunder or thereunder, that: 

(i) the principal of, and interest and premium on, the Securities shall be promptly paid in full when due, whether at maturity,
by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Securities, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder shall be promptly
paid in full or performed, all in accordance with the terms hereof and thereof; and 
 (ii) in case of any extension of time
of payment or renewal of any Security or any of such other obligations, that same shall be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or
otherwise. 
 Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason,
Parent shall be obligated to pay the same immediately. Parent agrees that this is a guarantee of payment and not a guarantee of collection. 

(b) Parent hereby agrees that, to the fullest extent permitted by applicable law, its obligations hereunder shall be
unconditional, irrespective of the validity, regularity or enforceability of the Securities or this Indenture, the absence of any action to enforce the 

  
 2 

 
same, any waiver or consent by any Holder of the Securities 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. Parent hereby waives, to the fullest extent permitted by applicable law, diligence, presentment, demand of payment, 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 whatsoever and covenants that the Parent Guarantee shall not be discharged except by
complete performance of the obligations contained in the Securities and this Indenture or as set forth in Section 16.03 hereof. 

(c) If any Holder or the Trustee is required by any court or otherwise to return to the Company, Parent or any custodian,
trustee, liquidator or other similar official acting in relation to either the Company or Parent, any amount paid either to the Trustee or such Holder while the Parent Guarantee is in effect, the Parent Guarantee, to the extent theretofore
discharged, shall be reinstated in full force and effect. 
 (d) Parent 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. Parent further agrees that, as between the Parent, 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 Five hereof for the purposes of this Article Sixteen, 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 Five hereof, such obligations (whether or not due and payable) shall
forthwith become due and payable by Parent for the purposes of the Parent Guarantee. 
 (e) In case any provision of this
Article Sixteen shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

(f) The obligations of the Parent under the Parent Guarantee shall be a general unsecured senior obligation of Parent and shall
be pari passu in right of payment with any existing and future senior unsecured indebtedness of Parent, except for any indebtedness mandatorily preferred by law, and will be senior in right of payment to any existing or future subordinated
indebtedness of Parent. 
 (g) Parent agrees that the Parent Guarantee shall remain in full force and effect notwithstanding
the absence of the endorsement of any notation of the Parent Guarantee on the Securities. 

  
 3 

 Section 16.02. Successors. 

Except as otherwise provided in Section 16.03, the Parent Guarantee shall remain in full force and effect and be binding
in accordance with and to the extent of its terms upon Parent and the successors thereof, and shall inure to the benefit of (and be enforceable by) the Trustee and the Holders from time to time, or their respective successors or assignees, until
this Indenture shall have been satisfied and discharged in accordance with the terms thereof, and the principal of and interest, if any, on the Securities, and the obligations of Parent in respect of the Guarantee, have been satisfied by payment in
full. 
 Section 16.03. Release of Parent Guarantee. 

The Parent Guarantee shall be automatically and unconditionally released and discharged, and no further action by Parent, the
Company, any Holder or the Trustee is required for the release of the Parent Guarantee, upon the occurrence of any of the following: (i) the Company exercising its defeasance option in accordance with Section 4.03 hereof; (ii) the
Company’s obligations under this Indenture being discharged in accordance with the terms of this Indenture; (iii) any sale, exchange or transfer (by merger or otherwise) of all of the capital stock of the Company or of all or substantially
all of the assets of the Company to an entity that is not the Parent or a Subsidiary of Parent; or (iv) an initial public offering of common stock of the Company. 

Section 16.04. No Recourse Against Others. 

No past, present or future director, officer, employee, incorporator or stockholder of Parent shall have any liability for any
obligations of Parent under the Securities, this Indenture or the Parent Guarantee for any claim based on, in respect of, or by reason of, such obligations or their creation. 

Section 16.05. No Adverse Interpretation. 

This Article Sixteen may not be used to interpret another indenture, loan, security or debt agreement of Parent, and no such
indenture, loan, security or debt agreement may be used to interpret this Article Sixteen.” 
 ARTICLE TWO 

MISCELLANEOUS 

SECTION 2.1. Notices. Any request, demand, authorization, direction, notice, consent, waiver or act of Holders or other document
provided or permitted by this instrument to be made upon, given or furnished to, or filed with Parent shall be sufficient for every purpose under this instrument if made, given, furnished or filed in writing to or with: 

Suntory Holdings Limited 

2-2-3 Daiba, Minato-ku 

Tokyo 135-8631, Japan 

Attention:     Legal Department 

  
 4 

 With a copy to (for information purposes only, which copy shall be delivered as an accommodation
and shall not be required to be delivered in satisfaction of any requirement of the Indenture or hereof): 
  

					
		 	Cleary Gottlieb Steen & Hamilton LLP
		 	One Liberty Plaza
		 	New York, New York 10006
		 	Attention:	 	Paul J. Shim
		 		 	Benet O’Reilly
		 		 	Margaret S. Peponis

 SECTION 2.2. Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS GOVERNING THE INDENTURE AND ITS CONSTRUCTION. 
 SECTION 2.3 Submission to Jurisdiction. Parent hereby
irrevocably submits to the jurisdiction of the courts of the State of New York and the courts of the United States of America located in the Borough of Manhattan, City and State of New York over any suit, action or proceeding with respect to this
Supplemental Indenture, the Indenture or the transactions contemplated hereby or thereby. Parent waives, to the fullest extent permitted by law, any objection that it may have to the venue of any suit, action or proceeding with respect to this
Supplemental Indenture, the Indenture or the transactions contemplated hereby or thereby in the courts of the State of New York of the courts of the United States of America, in each case, located in the Borough of Manhattan, City and State of New
York, or that such suit, action or proceeding brought in the courts of the State of New York of the courts of the United States of America, in each case, located in the Borough of Manhattan, City and State of New York was brought in an inconvenient
court and agrees not to plead or claim the same. Parent hereby appoints the Company to act as its agent for service of process for purposes of this Section 2.3. 

SECTION 2.4. Execution and Counterparts. This Supplemental Indenture may be executed in any number of counterparts, each of which
shall be deemed an original, but all such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or electronic format (i.e.,
“pdf” or “tif”) transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties
hereto transmitted by facsimile or electronic format (i.e., “pdf” or “tif”) shall be deemed to be their original signatures for all purposes. 

SECTION 2.5. Benefits Acknowledged. The Parent Guarantee is subject to the terms and conditions set forth in this Supplemental
Indenture. Parent acknowledges that it will receive direct and indirect benefits from the arrangements contemplated by this Supplemental Indenture and the Parent Guarantee and that the guarantee and waivers made by it pursuant to the Parent
Guarantee are knowingly made in contemplation of such benefits. 
 SECTION 2.6. Effect of Headings. The Article and Section
headings in this Supplemental Indenture are for convenience only and shall not affect the construction hereof. 

  
 5 

 SECTION 2.7. Successors. All agreements of Parent in this Supplemental Indenture
shall bind its successors, except as otherwise provided herein. All agreements of the Trustee in this Supplemental Indenture shall bind its successors. 

SECTION 2.8. The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or
sufficiency of this Supplemental Indenture or for or in respect of the recitals and statements contained herein, all of which recitals and statements are made solely by Parent and the Company, and the Trustee assumes no responsibility for the
correctness thereof. 
 [Signature Page Follows] 

  
 6 

 IN WITNESS WHEREOF, the parties have caused this Fourth Supplemental Indenture to be executed as
of the date first above written. 
  

			
	SUNTORY HOLDINGS LIMITED
		
	By:	 	 /s/ Kozo Chiji

	Name:	 	Kozo Chiji
	Title:	 	Managing Executive Officer
		 	Chief Operating Officer
		 	Finance and Accounting Division
	
	BEAM SUNTORY INC.
		
	By:	 	 /s/ William Lindquist

	Name:	 	William Lindquist
	Title:	 	Assistant Treasurer

 [Signature page to Fourth Supplemental Indenture] 

 
			
	 THE BANK OF NEW YORK MELLON,

    as Trustee

		
	By:	 	 /s/ Laurence J. O’Brien

	Name:	 	Laurence J. O’Brien
	Title:	 	Vice President

 [Signature page to Fourth Supplemental Indenture]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00230-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00230-of-00352.parquet"}]]