RXO, Inc.,
as the Company,
the GUARANTORS party hereto from time to time,
and
REGIONS BANK,
as the Trustee
6.375% Senior Notes due 2031
First Supplemental Indenture
Dated as of February 20, 2026
to
Indenture dated as of February 20, 2026
TABLE OF CONTENTS
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Page
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ARTICLE 1
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Definitions And Other Provisions Of General Application
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Section 1.01.
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Definitions
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1
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Section 1.02.
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Conflicts with Base Indenture
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6
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Section 2.01.
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Form of Notes
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6
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Section 2.02.
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Special Transfer Provisions
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7
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Section 3.01.
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Amount; Terms
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13
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Section 3.02.
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Denominations
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14
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Section 3.03.
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Book-entry Provisions for Global Securities
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14
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Section 3.04.
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Additional Notes
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15
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ARTICLE 4
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Redemption or Repurchase of Securities
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Section 4.01.
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Applicability of Base Indenture
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15
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Section 4.02.
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Optional Redemption
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15
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Section 4.03.
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Repurchase of Notes Upon a Change of Control
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16
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ARTICLE 5
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Covenants, Defaults and Remedies and Guarantees
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Section 5.01.
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Covenants
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17
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Section 5.02.
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Defaults and Remedies
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18
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Section 5.03.
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Note Guarantees
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18
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Section 6.01.
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Confirmation of Indenture
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18
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Section 6.02.
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Counterparts
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18
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Section 6.03.
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Governing Law
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19
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Section 6.04.
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Waiver of Jury Trial
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19
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Section 6.05.
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Jurisdiction
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19
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Section 6.06.
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Recitals by the Company
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19
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FIRST SUPPLEMENTAL INDENTURE, dated as of February 20, 2026 (the “First Supplemental Indenture”), to the Indenture dated as of February 20, 2026 (as amended,
modified or supplemented from time to time in accordance therewith, other than with respect to a particular Series of debt securities that are not the Notes, the “Base Indenture” and, as amended, modified and
supplemented by this First Supplemental Indenture, the “Indenture”), by and among RXO, INC. (the “Company”), the Guarantors party hereto from time to time and REGIONS
BANK, as trustee (the “Trustee”).
Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Notes:
WHEREAS, the Company has duly authorized the execution and delivery of the Base Indenture to provide for the issuance from time to time of debt securities to be issued in one or more Series as
provided in the Base Indenture;
WHEREAS, the Company has duly authorized the execution and delivery, and the Company desires and has requested the Trustee to join it in the execution and delivery, of this First Supplemental
Indenture in order to establish and provide for the issuance by the Company of a Series of Securities designated as its 6.375% Notes due 2031 (the “Notes”), on the terms set forth herein;
WHEREAS, Section 2.01 of the Base Indenture provides that a supplemental indenture may be entered into by the parties for such purpose without the consent of any Holders; and
WHEREAS, all things necessary to make this First Supplemental Indenture a valid and binding agreement of the parties, in accordance with its terms, and a valid amendment of, and supplement to, the
Base Indenture with respect to the Notes have been done.
NOW, THEREFORE:
ARTICLE 1
Definitions And Other Provisions Of General Application
Section 1.01. Definitions. Capitalized terms used herein and not otherwise
defined herein have the meanings assigned to them in the Base Indenture. The words “herein,” “hereof” and “hereby” and other words of similar import used in this First Supplemental Indenture refer to this First Supplemental Indenture as a whole
and not to any particular section hereof.
As used herein, the following terms have the specified meanings:
“Additional Notes” has the meaning specified in Section 3.04 of this
First Supplemental Indenture.
“Applicable Procedures” means, with respect to any transfer or
transaction involving a Global Note or beneficial interest therein, the rules and procedures of DTC, and its direct and indirect participants, including, if applicable those of Euroclear and Clearstream, in each case in effect from time to time.
“Applicable Premium” means, with respect to
any Note, on any applicable Redemption Date, as determined by the Company, the greater of:
(1) 1% of the then outstanding principal amount of the Note;
and
(2) the excess of:
(a) the present value at such Redemption Date of (i) the redemption price of the Note, at May 15, 2028 (such redemption price being set forth in Section
4.02(a) hereof), plus (ii) all required interest payments due on the Note through May 15, 2028 (excluding accrued but unpaid interest), discounted to the Redemption Date and computed using a discount rate equal to the Treasury Rate as of such
Redemption Date, plus 50 basis points; over
(b) the then outstanding principal amount of the Note.
The Company shall calculate the Applicable Premium and the Trustee shall have no obligation to confirm or verify such calculation.
“Base Indenture” has the meaning specified in the recitals of this First
Supplemental Indenture.
“Change of Control” means the occurrence of
any of the following: (1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the Company’s assets
and the assets of its Subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Company or one or more of its Subsidiaries; or (2) the consummation of any transaction (including,
without limitation, any merger or consolidation) the result of which is that any “person” (as defined above), including any group defined as a person for the purpose of Section 13(d)(3) of the Exchange Act, other than the Company or its
Subsidiaries, becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Company’s Voting Stock;
provided,
however,
that a person shall not be deemed the beneficial owner of, or to own beneficially, (A) any securities tendered pursuant to a tender or exchange offer made by or on behalf of such person or any of such person’s Affiliates until such tendered
securities are accepted for purchase or exchange thereunder, or (B) any securities if such beneficial ownership (i) arises solely as a result of a revocable proxy delivered in response to a proxy or consent solicitation made pursuant to the
applicable rules and regulations under the Exchange Act, and (ii) is not also then reportable on Schedule 13D (or any successor schedule) under the Exchange Act. Notwithstanding the foregoing, a transaction will not be considered to be a Change of
Control if (x) the Company becomes a direct or indirect wholly owned subsidiary of another Person and (y) either (I) the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or
exchanged for, a majority of the Voting Stock of such Person immediately after giving effect to such transaction or (II) immediately following such transaction, no person (other than a person satisfying the requirements of this sentence) is the
beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such Person.
“Change of Control Offer” has the meaning set forth in Section 4.03(a).
“Change of Control Payment Date” has the meaning set forth in Section
4.03(a).
“Change of Control Repurchase Event” means
the occurrence of both a Change of Control and a Rating Event.
“Clearstream” means Clearstream Banking, S.A., or the successor to its
securities clearance and settlement operations.
“Company” means RXO, Inc., until a successor replaces it pursuant to the
Indenture and thereafter means that successor.
“Corporate Trust Office” means the designated office of the Trustee at
which at any time its corporate trust business relating to this First Supplemental Indenture shall be administered, which office at the date hereof is located at Regions Bank, 51 W Bay Street, 2nd Floor, Jacksonville, FL 32202, Attention: Craig
Kaye, or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of any successor trustee (or such other address as such successor trustee may designate
from time to time by notice to the Holders and the Company).
“Definitive Note” means a
certificated Note containing, if required, the appropriate Restricted Notes Legend set forth in Section 2.02(e)(ii).
“Depositary” means DTC or any successor designated by the Company
pursuant to the Indenture.
“Disqualified Stock” means, with respect to
any Person, any capital stock of such Person which, by its terms (or by the terms of any security into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event:
(1) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise (other than as a result of a Change of Control or asset sale),
(2) is convertible or exchangeable for Indebtedness or Disqualified Stock of such Person or any of its subsidiaries, or
(3) is redeemable at the option of the holder thereof, in whole or in part (other than solely as a result of a Change of Control or asset sale),
in each case prior to 91 days after the earlier of the maturity date of the Notes or the date the Notes are no longer outstanding; provided, however, that only the portion of capital stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such date shall be deemed to be
Disqualified Stock; provided, further, however, that if such capital stock is issued to any employee or to any plan for
the benefit of employees of the Company or its subsidiaries or by any such plan to such employees, such capital stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by such Person in order to satisfy
applicable statutory or regulatory obligations or as a result of such employee’s termination, death or disability; provided, further, that any class of capital
stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of capital stock that is not Disqualified Stock shall not be deemed to be Disqualified Stock.
“Equity Offering” means any public or
private sale after the date hereof of common capital stock or Preferred Stock of the Company or any direct or indirect parent of the Company, as applicable (other than Disqualified Stock), other than:
(1) public offerings with respect to the Company’s or such direct or indirect parent’s common stock registered on Form S-4 or Form S-8; and
(2) issuances to any Subsidiary of the Company.
“Euroclear” means Euroclear S.A./N.V., a company organized under the
laws of Belgium, as operator of the Euroclear System, or its successor in such capacity.
“First Supplemental Indenture” has the meaning specified in the recitals
of this First Supplemental Indenture.
“Global Note” has the meaning set forth in Section 2.01(b)(ii).
“Global Notes Legend” means the legend set forth in Section 2.01(b)(i).
“Indenture” has the meaning specified in the recitals of this First Supplemental Indenture.
“Initial Notes” has the meaning set forth in Section 3.01(b).
“Interest Payment Date,” when used with respect to any Note, means the
Stated Maturity of an installment of interest on such Note.
“Notes” has the meaning specified in the recitals of this First
Supplemental Indenture.
“Notes Custodian” means the custodian with respect to a Global Note (as
appointed by DTC), or any successor Person thereto and will initially be the Trustee.
“principal” of a Note means
the principal amount of the Note.
“Preferred Stock” means any Equity Interest
with preferential right of payment of dividends or upon liquidation, dissolution, or winding up.
“Purchase Agreement” means the Purchase Agreement, dated as of February
11, 2026, between the Company and BofA Securities, Inc., as representative of the several initial purchasers of the Notes.
“Qualified Institutional Buyer” or “QIB” has the meaning specified in Rule 144A promulgated under the Securities Act.
“Rating Event” means the rating on the
Notes is lowered by at least two Rating Agencies and the Notes are rated below an Investment Grade Rating by such Rating Agencies, in any case on any day during the period (which period will be extended so long as the rating of the Notes is under
publicly announced consideration for a possible downgrade by any of the Rating Agencies) commencing upon the first public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control and ending 60 days
following the consummation of the Change of Control;
provided,
however, a Rating Event otherwise arising by virtue of a particular reduction in rating shall not be
deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Rating Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly
confirm or inform the Company in writing at the Company’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control
(whether or not the applicable Change of Control shall have occurred at the time of the reduction).
“Redemption Date,” with respect to any Note or portion thereof to be
redeemed, means the date fixed for such redemption by or pursuant to the Indenture or such Note.
“Regular Record Date,” for the interest payable on any Interest Payment
Date on the Notes of any Series, means the date specified for that purpose herein.
“Regulation S” means Regulation S promulgated under the Securities Act.
“Regulation S Global Note” has the meaning set forth in Section
2.01(b)(i).
“Restricted Notes Legend” means the legend set forth in Section
2.01(b)(i).
“Restricted Period” means with respect to any Notes the period that is 40
days after the later of (i) the Issue Date of the Notes and (ii) the date when the Notes or any predecessor of the Notes are first offered to Persons other than distributors (as defined in Rule 902 of Regulation S) in reliance on Regulation S.
“Rule 144” means Rule 144 promulgated under the Securities Act.
“Rule 144A” means Rule 144A promulgated under the Securities Act.
“Rule 144A Global Note” has the meaning set forth in Section 2.01(b)(i).
“Stated Maturity” means, when used with respect to any Note or any
installment of principal thereof or interest thereon, the date specified in such Note as the fixed date on which the principal of such Note or such installment of principal or interest is due and payable.
“Transfer Restricted Note” means any Note that contains or is required to
contain a Restricted Notes Legend.
“
Treasury Rate” means, with respect to any Note, as of the applicable Redemption Date, as determined by the Company, the yield
to maturity as of such Redemption Date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H. 15 (519) that has become publicly available at least two
Business Days prior to such Redemption Date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from such Redemption Date to May 15, 2028;
provided,
however, that if the period from such Redemption Date to May 15, 2028, as applicable, is less than one year, the weekly average yield on actively traded United
States Treasury securities adjusted to a constant maturity of one year will be used.
Section 1.02. Conflicts with Base Indenture. In the event that any provision
of this First Supplemental Indenture limits, qualifies or conflicts with a provision of the Base Indenture, such provision of this First Supplemental Indenture shall control.
Section 2.01. Form of Notes.
(a) The Notes shall be substantially in the form of Exhibit A, which is hereby incorporated in and expressly made a part of the Indenture (other than, with respect to any
Additional Notes, changes contemplated by Section 3.04). The Notes may have notations, legends or endorsements required by law, rule or usage to which the Company is subject. Each Note shall be dated the date of its authentication.
(i) The Initial Notes shall be offered and sold by the Company pursuant to the Purchase Agreement. The Notes shall be resold
initially only (A) to persons reasonably believed to be QIBs in reliance on Rule 144A under the Securities Act or (B) outside the United States, to persons other than “U.S. persons” as defined in Rule 902 under the Securities Act in reliance
on Regulation S. Notes may thereafter be transferred to, among others, purchasers reasonably believed to be QIBs, purchasers in reliance on Regulation S, and otherwise, subject to the restrictions on transfer set forth herein. Notes initially
resold pursuant to Rule 144A shall be initially issued in the form of one or more permanent global securities in fully registered form (collectively, the “Rule 144A
Global Note”) and Notes initially resold pursuant to Regulation S shall be initially issued in the form of one or more permanent global securities in fully registered form (collectively, the “Regulation S Global Note”), in each case without interest coupons and with
the Global Notes Legend and the applicable Restricted Notes Legend set forth in Section 2.02(e) hereof. Such global securities shall be deposited on behalf of the purchasers of the Notes represented thereby with the Notes Custodian and
registered in the name of DTC or a nominee of DTC, duly executed by the Company and authenticated by the Trustee as provided in this Indenture.
(ii) The Rule 144A Global Note and the Regulation S Global Note are collectively referred to herein as “Global Notes.” The aggregate principal amount of the Global Notes may from time to time be increased or decreased by adjustments made on the records of the Trustee and DTC or its nominee as hereinafter
provided.
(c) This Section 2.01(c) shall apply only to a Global Note deposited with or on behalf of DTC.
(i) The Company shall execute and the Trustee shall, in accordance with this Section 2.01(c), authenticate and deliver initially one or more Global Notes
that (A) shall be registered in the name of DTC or its nominee and (B) shall be delivered by the Trustee to DTC or pursuant to DTC’s instructions or held by the Trustee as Notes Custodian for DTC.
(ii) Members of, or participants in, DTC (“Agent Members”) shall have no rights under this Indenture with respect
to any Global Note held on their behalf by DTC (or by the Trustee as the Notes Custodian for DTC) or under such Global Note, and the Company, the Trustee and any agent of the Company or the Trustee shall be entitled to treat DTC as the
absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification,
proxy or other authorization furnished by DTC or impair, as between DTC and its Agent Members, the operation of customary practices of DTC governing the exercise of the rights of a Holder of a beneficial interest in any Global Note.
(d) Except as provided in Section 2.15 of the Base Indenture, owners of beneficial interests in Global Notes shall not be entitled to receive physical delivery of Definitive
Notes.
(e) The Notes may be presented for registration of transfer and exchange at the offices of the Registrar.
Section 2.02. Special Transfer Provisions.
(a) Transfer and Exchange of Definitive Notes. When Definitive Notes are presented to the Registrar with a request:
(i) to register the transfer of such Definitive Notes; or
(ii) to exchange such Definitive Notes for an equal principal amount of Definitive Notes of other authorized denominations,
the Registrar shall register the transfer or make the exchange as requested if its reasonable requirements for such transaction are met; provided, however, that the Definitive Notes surrendered for transfer or exchange:
(A) shall be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Registrar, duly
executed by the Holder thereof or its attorney duly authorized in writing; and
(B) are accompanied by the following additional information and documents, as applicable: (x) if such Definitive Notes are being delivered to the
Registrar by a Holder for registration in the name of such Holder, without transfer, a certification from such Holder to that effect; or (y) if such Definitive Notes are being transferred to the Company, a certification to that effect (in
each case in the form set forth on the reverse side of the Initial Note); or
(C) if such Definitive Notes are being transferred pursuant to an exemption from registration in accordance with Rule 144 under the Securities Act or in
reliance upon another exemption from the registration requirements of the Securities Act, (i) a certification to that effect (in the form set forth on the reverse side of the Initial Note) and (ii) if the Company or Registrar so requests, an
opinion of counsel or other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth in the legend set forth in Section 2.02(e)(ii).
(b) Restrictions on Transfer of a Definitive Note for a Beneficial Interest in a Global Note. A Definitive Note may not be exchanged
for a beneficial interest in a Global Note except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a Definitive Note, duly endorsed or accompanied by a written instrument of transfer in form reasonably
satisfactory to the Company and the Registrar, together with:
(i) certification (in the form set forth on the reverse side of the applicable Initial Note) that such Definitive Note is being transferred (A) to a
person reasonably believed to be QIB in accordance with Rule 144A or (B) to a non-U.S. Person outside the United States in an offshore transaction within the meaning of Regulation S and in compliance with Rule 903 or Rule 904 under the
Securities Act; and
(ii) written instructions directing the Trustee to make, or to direct the Notes Custodian to make, an adjustment on its books and records with respect to
such Global Note to reflect an increase in the aggregate principal amount of the Notes represented by the Global Note, such instructions to contain information regarding the DTC account to be credited with such increase,
then the Trustee shall cancel such Definitive Note and cause, or direct the Notes Custodian to cause, in accordance with the standing instructions and procedures existing between DTC and the Notes
Custodian, the aggregate principal amount of Notes represented by the Global Note to be increased by the aggregate principal amount of the Definitive Note to be exchanged and shall credit or cause to be credited to the account of the Person
specified in such instructions a beneficial interest in the Global Note equal to the principal amount of the Definitive Note so canceled. If no Global Notes are then outstanding and the Global Note has not been previously exchanged for Definitive
Notes pursuant to this Indenture, the Company shall issue and the Trustee shall authenticate, upon receipt of an order from the Company, a new Global Note in the appropriate principal amount.
(c) Transfer and Exchange of Global Notes.
(i) The transfer and exchange of Global Notes or beneficial interests therein shall be effected through DTC, in accordance with this First Supplemental
Indenture (including applicable restrictions on transfer set forth herein, if any) and the Applicable Procedures therefor. A transferor of a beneficial interest in a Global Note shall deliver a written or electronic order given in accordance
with the Applicable Procedures containing information regarding the participant account of DTC to be credited with a beneficial interest in such Global Note or another Global Note and such account shall be credited in accordance with such
order with a beneficial interest in the applicable Global Note and the account of the Person making the transfer shall be debited by an amount equal to the beneficial interest in the Global Note being transferred.
(ii) Transfers by an owner of a beneficial interest in a Rule 144A Global Note to a transferee who takes delivery of such interest through a Regulation S
Global Note of the same Series, whether before or after the expiration of the Restricted Period, shall be made in accordance with the Applicable Procedures and only upon receipt by the Trustee of a written certification (in the form set forth
on the reverse side of the Initial Note) from the transferor to the effect that such transfer is being made in accordance with Rule 903 or Rule 904 of Regulation S or (if available) Rule 144 under the Securities Act and, if such transfer is
being made prior to the expiration of the Restricted Period, the interest transferred shall be held immediately thereafter through Euroclear, Clearstream or their respective participants.
(iii) Beneficial interests in a Regulation S Global Note may be exchanged for interests in a Rule 144A Global Note of the same Series in accordance with the
Applicable Procedures and if (A) such exchange occurs in connection with a transfer of Notes in compliance with Rule 144A and (B) the transferor of the beneficial interest in the Regulation S Global Note first delivers to the Trustee a
written certificate (in the form set forth on the reverse side of the Initial Note) to the effect that the beneficial interest in the Regulation S Global Note, is being transferred to a Person (1) who the transferor reasonably believes to be
a QIB, (2) purchasing for its own account or the account of a QIB in a transaction meeting the requirements of Rule 144A, and (3) in accordance with all applicable securities laws of the States of the United States and other jurisdictions.
(iv) If the proposed transfer is a transfer of a beneficial interest in one Global Note to a beneficial interest in another Global Note, the Registrar shall
reflect on its books and records the date and an increase in the principal amount of the Global Note to which such interest is being transferred in an amount equal to the principal amount of the interest to be so transferred, and the
Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of the Global Note from which such interest is being transferred.
(v) Notwithstanding any other provisions of this First Supplemental Indenture (other than the provisions set forth in Section 2.15 of the Base Indenture),
a Global Note may not be transferred as a whole except by DTC to a nominee of DTC or by a nominee of DTC to DTC or another nominee of DTC or by DTC or any such nominee to a successor to DTC or a nominee of such successor to DTC.
(d) Restrictions on Transfer of Regulation S Global Notes.
(i) Prior to the expiration of the Restricted Period, interests in a Regulation S Global Note may be held through Euroclear, Clearstream or through
organizations that are participants in Euroclear or Clearsteam. During the Restricted Period, beneficial ownership interests in a Regulation S Global Note may only be sold, pledged or transferred through Euroclear, Clearstream or their
respective participants in accordance with the Applicable Procedures and only (A) to the Company or any Subsidiary thereof, (B) pursuant to a registration statement that has been declared effective under the Securities Act, (C) for so long as
such security is eligible for resale pursuant to Rule 144A, to a Person whom the selling holder reasonably believes is a QIB that purchases for its own account or for the account of a QIB to whom notice is given that the resale, pledge or
transfer is being made in reliance on Rule 144A, (D) pursuant to offers and sales to non-U.S. Persons that occur outside the United States (within the meaning of Regulation S under the Securities Act), or (E) pursuant to another available
exemption from the registration requirements of the Securities Act, in each case in accordance with any applicable securities laws of any state of the United States, subject to the Company’s and the Trustee’s right prior to any such offer,
sale or transfer pursuant to clause (D) or (E) to require the delivery of an opinion of counsel, certification and/or other information satisfactory to each of them. Prior to the expiration of the Restricted Period, transfers by an owner of a
beneficial interest in a Regulation S Global Note to a transferee who takes delivery of such interest through a Rule 144A Global Note shall be made only in accordance with the Applicable Procedures, pursuant to Rule 144 or 144A of the
Securities Act and upon receipt by the Trustee of a written certification (in the form on the reverse side of the Initial Note).
(ii) Upon the expiration of the Restricted Period, beneficial ownership interests in a Regulation S Global Note shall be transferable in accordance with
applicable law and the other terms of the Indenture.
(i) Each Note certificate evidencing the Global Notes (and all Notes that are Global Notes issued in exchange therefor or in
substitution thereof) will contain a legend substantially to the following effect (each defined term in the legend being defined as such for purposes of the legend only):
“THIS GLOBAL SECURITY IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE HOLDERS OF BENEFICIAL
INTERESTS HEREIN, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES, EXCEPT THAT (I) THE TRUSTEE MAY MAKE ANY SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO THE INDENTURE, (II) THIS GLOBAL SECURITY MAY BE EXCHANGED IN WHOLE BUT
NOT IN PART PURSUANT TO SECTION 2.06 OF THE BASE INDENTURE, (III) THIS GLOBAL SECURITY MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO THE INDENTURE AND (IV) THIS GLOBAL SECURITY MAY BE TRANSFERRED AS A WHOLE, BUT NOT IN PART, TO THE
DEPOSITARY, ITS SUCCESSORS OR THEIR RESPECTIVE NOMINEES.
UNLESS THIS CERTIFICATE 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, ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”
(ii) Except as permitted by the following paragraphs (iii), (iv), (v) or (vi), each Note certificate evidencing the Global
Notes and the Definitive Notes (and all Notes issued in exchange therefor or in substitution thereof) will contain a legend substantially to the following effect (each defined term in the legend being defined as such for purposes of the
legend only):
“THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAW OF ANY STATE OR OTHER JURISDICTION. BY ITS
ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER REPRESENTS THAT
(1) IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE
INVESTMENT DISCRETION WITH RESPECT TO EACH SUCH ACCOUNT, OR
(2) IT IS NOT A “U.S. PERSON” AND IS OUTSIDE OF THE UNITED STATES (WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT).
NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH
REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED
SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE THAT IS (A) IN THE CASE OF RULE 144A GLOBAL NOTES, ONE YEAR, OR (B) IN THE CASE OF REGULATION S GLOBAL NOTES, 40 DAYS, IN EACH CASE AFTER THE LATER OF THE ORIGINAL
ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF THIS SECURITY), ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION
STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”
AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND
SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE
COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM.”
Each Note evidencing a Global Note offered and sold to a QIB pursuant to Rule 144A will contain a legend substantially to the following effect:
“EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE SELLER OF THIS SECURITY MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT
PROVIDED BY RULE 144A THEREUNDER.”
(iii) Upon any sale or transfer of a Transfer Restricted Note that is a Definitive Note, the Registrar shall permit the Holder thereof to exchange such
Transfer Restricted Note for a Definitive Note that does not bear the legends set forth above and rescind any restriction on the transfer of such Transfer Restricted Note if the Holder certifies in writing to the Registrar that its request
for such exchange was made in reliance on Rule 144 (such certification to be in the form set forth on the reverse of the Initial Note).
(vi) Upon a sale or transfer after the expiration of the Restricted Period of any Initial Note acquired pursuant to Regulation S, all requirements that such
Initial Note bear the Restricted Notes Legend shall cease to apply and the requirements requiring any such Initial Note be issued in global form shall continue to apply.
(f) Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged
for Definitive Notes, transferred, redeemed, repurchased or canceled, such Global Note shall be returned by DTC to the Trustee for cancellation or retained and canceled by the Trustee. At any time prior to such cancellation, if any beneficial
interest in a Global Note is exchanged for Definitive Notes, transferred in exchange for an interest in another Global Note, redeemed, repurchased or canceled, the principal amount of Notes represented by such Global Note shall be reduced and an
adjustment shall be made on the books and records of the Trustee (if it is then the Notes Custodian for such Global Note) with respect to such Global Note, by the Trustee or the Notes Custodian, to reflect such reduction.
(g) Prior to the due presentation for registration of transfer of any Note, the Company, the Trustee, the Paying Agent and the Registrar may deem and treat the person in
whose name a Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Note and for all other purposes whatsoever, whether or not such Note is overdue, and none of the Company,
the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary.
(h) All Notes issued upon any transfer or exchange pursuant to the terms of this First Supplemental Indenture shall evidence the same debt and shall be entitled to the same
benefits under the Indenture as the Notes surrendered upon such transfer or exchange.
(i) Any Definitive Note delivered in exchange for an interest in the Transfer Restricted Note shall, except as otherwise provided by Section 2.02(e) hereof, contain the
applicable Restricted Notes Legend set forth in Section 2.02(e)(ii) hereof.
(j) By its acceptance of any Note containing any legend in Section 2.02(e), each Holder of such Note acknowledges the restrictions on transfer of such Note set forth in this
Indenture and in such legend in Section 2.02(e) and agrees that it shall transfer such Note only as provided in this Indenture.
Section 3.01. Amount; Terms.
(a) There is hereby created and designated a Series of Securities under the Base Indenture: the title of the Notes shall be “6.375% Senior Notes due 2031.” The changes,
modifications and supplements to the Base Indenture effected by this First Supplemental Indenture shall be applicable only with respect to, and govern the terms of, the Notes and shall not apply to any other Series of Securities that may be
issued under the Base Indenture unless a supplemental indenture or Authorizing Resolution with respect to such other Series of Securities or Officer’s Certificate establishing such Series of Securities specifically incorporates such changes,
modifications and supplements.
(b) The aggregate principal amount of Notes that initially may be authenticated and delivered under this First Supplemental Indenture (the “Initial Notes”) shall be limited to $400,000,000, subject to increase as set forth in Section 3.04.
(c) The Stated Maturity of the Notes, on which principal thereof is due and payable, shall be May 15, 2031. The Notes shall be payable and may be presented for payment,
purchase, redemption, registration of transfer and exchange at the office of the Company maintained for such purpose, which shall initially be the Corporate Trust Office of the Trustee.
(d) The Notes shall accrue interest at the rate of 6.375% per year, in each case beginning on February 20, 2026 or from the most recent date to which interest has been paid
or duly provided for, as further provided in the form of Note annexed hereto as Exhibit A. Interest on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Interest Payment Dates for the Notes shall be
May 15 and November 15 of each year, beginning on November 15, 2026, and the Regular Record Date for any interest payable on each such Interest Payment Date shall be the immediately preceding May 1 and November 1, respectively; provided that upon the Stated Maturity of the principal of the Notes, interest shall be payable on such Stated Maturity from the most recent date to which interest has been paid or duly provided, and shall
include the required payment of principal or premium, if any. If any Interest Payment Date, Stated Maturity or other payment date with respect to the Notes is not a Business Day, the required payment of principal, premium, if any, or interest
will be due on the next succeeding Business Day as if made on the date that such payment was due, and no interest will accrue on that payment for the period from and after that Interest Payment Date, Stated Maturity or other payment date, as the
case may be, to the date of that payment on the next succeeding Business Day.
(e) The Notes will be initially issued in the form of one or more Global Notes, deposited with the Trustee, as Notes Custodian, or its nominee, duly executed by the Company
and authenticated by the Trustee as provided in the Base Indenture.
(f) Payment of principal of and premium, if any, and interest on a Global Note registered in the name of or held by the Depositary or its nominee will be made in immediately
available funds to the Depositary or its nominee, as the case may be, as the Holder of such Global Note. If the Notes are no longer represented by a Global Note, payment of interest on certificated Notes in definitive form may, at the Company’s
option, be made by (i) check mailed directly to Holders of such Notes at their registered addresses or (ii) upon request of any Holder of at least $1,000,000 principal amount of Notes, wire transfer to an account located in the United States
maintained by the payee.
Section 3.02. Denominations. The Notes of each Series shall be issuable only in registered form in minimum
denominations of $2,000 and integral multiples of $1,000 in excess thereof.
Section 3.03. Book-entry Provisions for Global Securities. Except for the circumstances described in Article 2 of the Base Indenture, no
Global Note may be exchanged in whole or in part for Notes 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.
Section 3.04. Additional Notes. The Company may from time to time, without notice to or the consent of the Holders of the Notes, create
and issue pursuant to the Indenture additional Notes (“Additional Notes”) having the same terms as, and ranking equally and ratably with, the Notes in all respects (except for the issue date, the public
offering price and, if applicable, the payment of interest accruing prior to the issue date of such Additional Notes and the first payment of interest following the issue date of such Additional Notes); provided
that if such Additional Notes are not fungible with the Notes for U.S. federal income tax purposes, such Additional Notes will have a separate CUSIP number. Such Additional Notes may be consolidated and form a single series with, and will have
the same terms as to ranking, redemption, waivers, amendments or otherwise as, the Notes, and will vote together as one class on all matters with respect to such Notes.
ARTICLE 4
Redemption or Repurchase of Securities
Section 4.01. Applicability of Base Indenture. Subject to Section 1.02 hereof,
the provisions of Article 3 of the Base Indenture, as supplemented by the provisions of this First Supplemental Indenture, shall apply to redemptions of the Notes pursuant to Section 4.02 hereof.
Section 4.02. Optional Redemption.
(a) On or after May 15, 2028, the Company may redeem the Notes at its option, in whole at any time or in part from
time to time, upon not less than 10 nor more than 60 days’ prior notice mailed by the Company by first-class mail, or delivered electronically if held by DTC, to each Holder’s registered address (with a copy to the Trustee), at the following
redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest to, but excluding, the Redemption Date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on
the relevant Interest Payment Date), if redeemed during the 12-month period commencing on May 15 of the years set forth below:
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2028
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103.188
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%
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2029
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101.594
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%
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2030 and thereafter
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100.000
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%
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(b) In addition, prior to May 15, 2028, the Company may redeem the Notes at its option, in whole at any time or in part from time to time, upon not less than 10 nor more than
60 days’ prior notice mailed by the Company by first class mail, or delivered electronically if held by DTC, to each Holder’s registered address (with a copy to the Trustee), at a redemption price equal to 100% of the principal amount of the
Notes redeemed, plus the Applicable Premium as of, and accrued and unpaid interest to, but excluding, the applicable Redemption Date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on the
relevant Interest Payment Date).
(c) Notwithstanding the foregoing, at any time and from time to time on or prior to May 15, 2028, the Company may redeem in the aggregate up to 40% of the original aggregate
principal amount of the Notes (calculated after giving effect to any issuance of Additional Notes) with the net cash proceeds of one or more Equity Offerings (i) by the Company or (ii) by any direct or indirect parent of the Company to the extent
the net cash proceeds thereof are contributed to the common equity capital of the Company or used to purchase capital stock (other than Disqualified Stock) of the Company, at a redemption price (expressed as a percentage of principal amount
thereof) of 106.375%, plus accrued and unpaid interest to, but excluding, the Redemption Date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date); provided, however, that at least 50% of the original aggregate principal amount of the Notes (calculated after giving effect to any issuance of Additional Notes) must
remain outstanding after each such redemption; provided, further, that such redemption shall occur within 120 days after the date on which any such Equity
Offering is consummated upon not less than 10 nor more than 60 days’ notice mailed, or delivered electronically if held by DTC, by the Company to each Holder of Notes being redeemed (with a copy to the Trustee) and otherwise in accordance with
the procedures set forth in this Article 4.
(d) Unless the Company defaults in the payment of the redemption price, on and after the Redemption Date, interest will cease to accrue on the Notes, or portions thereof,
called for redemption.
Section 4.03. Repurchase of Notes Upon a Change of Control.
(a) If a Change of Control Repurchase Event occurs with respect to the Notes, unless the Company has exercised its
right to redeem the Notes as described in Section 4.02 of this First Supplemental Indenture, the Company is required to make an offer (the “Change of Control Offer”) to each Holder of the Notes to
repurchase all or any part (in excess of $2,000 and in integral multiples of $1,000) 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 excluding, the date of repurchase. Within 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 a Change of Control, the Company will electronically deliver or mail a notice to each Holder of the Notes, 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 will be no earlier than 10 days and no later than 60 days from the date such notice is
electronically delivered or mailed (the “Change of Control Payment Date”). The notice shall, if electronically delivered or mailed prior to the date of consummation of the Change of Control, state that the
offer to purchase is conditioned on a Change of Control Repurchase Event occurring on or prior to the Change of Control Payment Date.
(b) On the Change of Control Payment Date, the Company will, to the extent lawful:
(i) accept for payment all the Notes or portions of the Notes properly tendered pursuant to the Change of Control Offer;
(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;
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.
(c) The Paying Agent will promptly deliver to each Holder of Notes properly tendered payment for such Notes, and the Trustee will promptly authenticate and deliver (or make
appropriate adjustments to the amount and beneficial interests in any global note) to each Holder a new Note equal in principal amount to any unpurchased portion of any Notes surrendered.
(d) The Company is not required to make an offer to repurchase Notes in connection with a Change of Control Repurchase Event if a third party makes such an offer in the
manner and at the times and otherwise in compliance with the requirements hereunder for such an offer made by the Company, and such third party purchases all Notes validly tendered and not withdrawn under its offer.
(e) If Holders of not less than 90% in aggregate principal amount of the Notes validly tender and do not withdraw such Notes in an offer to repurchase the Notes in connection
with a Change of Control Repurchase Event and the Company purchases all of the Notes validly tendered and not withdrawn by such Holders, the Company will have the right, upon not less than 10 nor more than 60 days’ prior written notice to the
Holders of Notes and the Trustee, given not more than 30 days following the Change of Control Payment Date, to redeem all Notes 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 to, but excluding, the Redemption Date.
(f) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder, to the extent those laws and
regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control 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 Indenture or the Notes, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 4.03 or the Notes by virtue of compliance with
such securities laws and regulations.
(g) Notwithstanding anything to the contrary in the Indenture or otherwise, for the avoidance of doubt, the Company’s obligation to repurchase Notes upon a Change of Control
Repurchase Event may be waived by the Holders of not less than a majority in aggregate principal amount of the outstanding Notes affected by such waiver.
ARTICLE 5
Covenants, Defaults and Remedies and Guarantees
Section 5.01. Covenants. Article 4 and Article 5 of the Base Indenture shall apply to the Notes.
Section 5.02. Defaults and Remedies. Article 6 of the Base Indenture shall apply to the Notes.
Section 5.03. Note Guarantees. Each Guarantor hereby agrees, jointly and severally, to guarantee the Guaranteed Obligations in respect of
the Notes (and not of any other Series) on the terms and subject to the conditions set forth in Article 11 of the Base Indenture and to be bound by all other applicable provisions of the Indenture and the Notes and to perform all of the
obligations and agreements of a Guarantor under the Indenture.
Section 6.01. Confirmation of Indenture. The Base Indenture, as supplemented and amended by this First Supplemental Indenture, is in all
respects ratified and confirmed, and the Base Indenture and this First Supplemental Indenture shall be read, taken and construed as one and the same instrument.
Section 6.02. Counterparts. The parties hereto may sign any number of copies of this First Supplemental Indenture. Each signed copy
shall be an original, but all of them together represent the same agreement. Signatures of the parties hereto transmitted by facsimile or other electronic transmission shall be deemed to be their original signatures for all purposes. This First
Supplemental Indenture shall be valid, binding, and enforceable against a party (subject to applicable bankruptcy, insolvency, fraudulent transfer, fraudulent conveyance, reorganization, moratorium and other laws now or hereinafter in effect
affecting creditors’ rights or remedies generally and to general principles of equity (including standards of materiality, good faith, fair dealing and reasonableness), whether considered in a proceeding at law or at equity) only when executed
and delivered by an authorized individual on behalf of the party by means of (a) any 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 relevant provisions of the NYUCC (collectively, “Signature Law”);
(b) an original manual signature; or (c) a faxed, scanned, or photocopied manual signature. Each electronic signature or faxed, scanned, or photocopied manual 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 party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity thereof. For avoidance of doubt, original manual signatures shall be used for execution or indorsement of writings when
required under the NYUCC or other Signature Law due to the character or intended character of the writings. The Trustee shall not have any duty to confirm that the person sending any notice by electronic transmission (including by e-mail) is, in
fact, a person authorized to do so. Notwithstanding the foregoing, the Trustee may in any instance and in its sole discretion require that an original document bearing a manual signature be delivered to the Trustee in lieu of, or in addition to,
any such electronic Notice. The Company agrees to assume all risks arising out of the use of electronic signatures and electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee
acting on unauthorized instructions, and the risk of interception and misuse by third parties.
Section 6.03. Governing Law. This First Supplemental Indenture and the Notes shall be governed by and construed in accordance with the
laws of the State of New York.
Section 6.04. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY (AND THE HOLDERS, BY THEIR ACCEPTANCE OF THE NOTES,
THEREBY) IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS FIRST SUPPLEMENTAL INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED
HEREBY.
Section 6.05. Jurisdiction. The Company and the Trustee, and each Holder of a Note by its acceptance thereof, hereby (a) irrevocably
submit to the non-exclusive jurisdiction of any federal or state court sitting in the Borough of Manhattan, the city of New York, over any suit, action or proceeding arising out of or relating to the First Supplemental Indenture and (b) to the
fullest extent permitted by applicable law, irrevocably waive and agree not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter
have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.
Section 6.06. Recitals by the Company. The recitals in this First Supplemental
Indenture are made by the Company only and not by the Trustee, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this First Supplemental Indenture or of the
Notes. The Trustee shall not be accountable for the use or application by the Company of the Notes or the proceeds thereof. All of the provisions contained in the Base Indenture in respect of the rights, privileges, immunities, powers and duties
of the Trustee shall be applicable in respect of the Notes and of this First Supplemental Indenture as fully and with like effect as if set forth herein in full.
[the remainder of this page intentionally left blank]
IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly executed as of the date first written above.
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RXO, INC.,
as the Company |
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By:
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/s/ James E. Harris
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Name:
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James E. Harris |
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Title:
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Chief Financial Officer |
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BOUNCE LOGISTICS, LLC
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COYOTE LOGISTICS, LLC
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COYOTE LOGISTICS MIDCO, INC.
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JACOBSON LOGISTICS COMPANY, L.C.
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JACOBSON TRANSPORTATION
COMPANY, INC.
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RXO AIR TRANSPORT, LLC
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RXO CAPACITY SOLUTIONS, LLC
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RXO CORPORATE SOLUTIONS, LLC |
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RXO COURIER, LLC
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RXO CUSTOMS CLEARANCE SOLUTIONS, LLC
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RXO DEDICATED, LLC
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RXO EXPRESS, LLC
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RXO FREIGHT FORWARDING, INC.
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RXO LAST MILE HOLDING, INC. |
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RXO LAST MILE, INC.
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RXO MANAGED TRANSPORT, LLC
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RXO NLM, LLC,
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as Guarantors
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By:
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/s/ James E. Harris
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Name:
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James E. Harris |
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Title:
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Chief Financial Officer |
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[Signature Page – RXO, Inc. First Supplemental Indenture]
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REGIONS BANK,
as Trustee |
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By:
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/s/ Craig A. Kaye
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Name: Craig A. Kaye
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Title: Vice President
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[Signature Page – RXO, Inc. First Supplemental Indenture]
[FORM OF NOTE]
[Global Notes Legend]
This Global Security is held by the Depositary (as defined in the indenture governing this Security) or its nominee in custody for the benefit of the holders of beneficial interests herein, and is
not transferable to any person under any circumstances, except that (i) the Trustee may make any such notations hereon as may be required pursuant to the Indenture, (ii) this Global Security may be exchanged in whole but not in part pursuant to
Section 2.06 of the Base Indenture, (iii) this Global Security may be delivered to the Trustee for cancellation pursuant to the Indenture and (iv) this Global Security may be transferred as a whole, but not in part, to the Depositary, its
successors or their respective nominees.
Unless this certificate 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, any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested
by an authorized representative of DTC), any transfer, pledge, or other use hereof for value or otherwise by or to any person is wrongful inasmuch as the registered owner hereof, Cede & Co., has an interest herein.
[Restricted Notes Legend]
This Security has not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction. By its acquisition hereof or of a
beneficial interest herein, the acquirer represents that (1) it and any account for which it is acting is a “qualified institutional buyer” (within the meaning of Rule 144A under the Securities Act) and that it exercises sole investment discretion
with respect to each such account, or (2) it is not a “U.S. Person” and is outside of the United States (within the meaning of Regulation S under the Securities Act).
Neither this Security nor any interest or participation herein may be reoffered, sold, assigned, transferred, pledged, encumbered or otherwise disposed of in the absence of such registration or
unless such transaction is exempt from, or not subject to, such registration. The holder of this Security, by its acceptance hereof, agrees on its own behalf and on behalf of any investor account for which it has purchased securities, to offer,
sell or otherwise transfer such Security, prior to the date that is (a) in the case of Rule 144A Global Notes, one year, or (b) in the case of Regulation S Global Notes, 40 days, in each case after the later of the original issue date hereof and
the last date on which the Company or any affiliate of the Company was the owner of this Security (or any predecessor of this Security), only (a) to the Company or any subsidiary thereof, (b) pursuant to a registration statement that has been
declared effective under the Securities Act, (c) for so long as the Securities are eligible for resale pursuant to Rule 144A under the Securities Act, to a person it reasonably believes is a “qualified institutional buyer” as defined in Rule 144A
under the Securities Act that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that the transfer is being made in reliance on Rule 144A, (d) pursuant to offers and sales to non-U.S. Persons
that occur outside the United States within the meaning of Regulation S under the Securities Act, or (e) pursuant to another available exemption from the registration requirements of the Securities Act, subject to the Company’s and the Trustee’s
right prior to any such offer, sale or transfer pursuant to clauses (d) or (e) to require the delivery of an opinion of counsel, certification and/or other information satisfactory to each of them.
[For 144A Global Notes]
[Each purchaser of this Security is hereby notified that the seller of this Security may be relying on the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A
thereunder.]
[FORM OF NOTE]
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RXO, INC.
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No. [ ]
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144A CUSIP No. 74982T AA1
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144A ISIN No. US74982TAA16
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REG S CUSIP No. U7780D AA7
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REG S ISIN No. USU7780DAA73
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6.375% Senior Note due 2031
RXO, Inc., a Delaware corporation, promises to pay to Cede & Co., or registered assigns, the principal sum of [ ] DOLLARS (or such other amount set forth on the Schedule of Increases or
Decreases in Global Note attached hereto) on May 15, 2031.
Interest Payment Dates: May 15 and November 15, commencing November 15, 2026.
Record Dates: May 1 and November 1.
Additional provisions of this Note are set forth on the other side of this Note.
IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed.
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RXO, INC.
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By:
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Name:
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Title:
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| Dated: |
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TRUSTEE’S CERTIFICATE OF AUTHENTICATION
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REGIONS BANK,
as Trustee, certifies that this is one of the
Notes referred to in the Indenture.
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By:
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Authorized Signatory
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| Dated: |
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[FORM OF REVERSE SIDE OF NOTE]
6.375% Senior Note Due 2031
RXO, Inc., a Delaware corporation (the “Company”), issued this Note under the Indenture dated as of February 20, 2026 (as amended, modified or supplemented
from time to time in accordance therewith, the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of February 20, 2026 (the “Supplemental
Indenture” and, together with the Base Indenture, the “Indenture”), by and between the Company and Regions Bank, as trustee (in such capacity, the “Trustee”),
to which reference is hereby made for a statement of the respective rights, obligations, duties and immunities thereunder of the Company, the Trustee and the Holders and of the terms upon which this Note is authorized and delivered. All terms used
in this Note that are defined in the Indenture shall have the meanings assigned to them therein. If any terms of this Note conflicts with the terms of the Indenture, the terms of the Indenture shall govern and control.
1. Interest. The Company promises to pay interest on the principal
amount of this Note at the rate of 6.375% per year. The Company will pay interest semi-annually in arrears on May 15 and November 15 of each year (each, an “Interest Payment Date”), beginning on November
15, 2026, until the principal is paid or made available for payment. Interest on this Note will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid, from the date of issuance to,
but excluding, the applicable Interest Payment Date or Stated Maturity of the principal of the Note, as the case may be. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If any Interest Payment Date,
Stated Maturity or other payment date with respect to the Notes is not a Business Day, the required payment of principal, premium, if any, or interest will be due on the next succeeding Business Day as if made on the date that such payment was
due, and no interest will accrue on that payment for the period from and after that Interest Payment Date, Stated Maturity or other payment date, as the case may be, to the date of that payment on the next succeeding Business Day.
2. Method of Payment. The Company will pay interest on this Note
(except defaulted interest, if any, which will be paid on a special payment date to Holders of record on such special record date as may be fixed by the Company in accordance with Section 2.11 of the Base Indenture) to the persons in whose name
this Note is registered at the close of business on the Regular Record Date immediately preceding the relevant Interest Payment Date. The Company will pay principal and interest in money of the United States of America that at the time of payment
is legal tender for payment of public and private debts, at the office or agency of the Company maintained for that purpose in accordance with the Indenture.
3. Paying Agent. Initially, the Trustee will act as Paying Agent and
Registrar. The Company may have one or more co-Registrars and one or more additional paying agents. The Company may at any time rescind the designation of any Registrar or Paying Agent or approve a change through which the Registrar or Paying
Agent acts.
4. Optional Redemption. This Note shall be redeemable at the option
of the Company in accordance with Section 4.02 of the Supplemental Indenture.
5. Offer to Repurchase Upon Change of Control Repurchase Event. The
Company will be required to make a Change of Control Offer as and to the extent set forth in (and only in the circumstances described in) Section 4.03 of the Supplemental Indenture.
6. Persons Deemed Owners. The registered Holder of this Note shall be
treated as the owner of it for all purposes.
7. Unclaimed Money. All amounts of
principal of and premium, if any, and interest on this Note paid by the Company to the Trustee or Paying Agent that remain unclaimed for two years will be repaid to the Company, and the Holder of this Note will thereafter look solely to the
Company for payment unless applicable abandoned property law designates another Person.
8. Amendment, Supplement, Waiver. The Indenture or this Note may be
amended or supplemented in accordance with the terms of the Indenture.
9. Successor Person. When a successor Person assumes all the
obligations of its predecessor under the Note and the Indenture, the predecessor Person will be released from those obligations, in accordance with and except as set forth in the Indenture.
10. No Recourse Against Others. A director, officer, employee or
stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Note or the Indenture or for any claim based on, in respect of or by reason of, such obligations or their creation. Each Holder by
accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Note.
11. Discharge of Indenture. The Indenture contains certain provisions
pertaining to defeasance and discharge, which provisions shall for all purposes have the same effect as if set forth herein.
12. Authentication. This Note shall not be valid until an authorized
signatory of the Trustee manually signs the certificate of authentication on the other side of this Note.
13. Abbreviations. Customary abbreviations may be used in the name of a
Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform Gift to Minors
Act).
14. Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of New York.
15. 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 this Note and has directed the Trustee to use CUSIP and ISIN numbers in notices of repurchase as a convenience to
Holders. No representation is made as to the accuracy of such numbers either as printed on this Note or as contained in any notice of repurchase, and reliance may be placed only on the other identification numbers placed thereon.
16. Copies. The Company will furnish to any Holder upon written request
and without charge a copy of the Base Indenture and a copy of the Supplemental Indenture. Requests may be made to: RXO Inc., 11215 North Community House Road, Charlotte, NC 28277, Attention: Chief Financial Officer.
ASSIGNMENT FORM
To assign this Note, fill in the form below:
I or we assign and transfer this Note to:
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(Print or type assignee’s name, address and zip code)
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(Insert assignee’s soc. sec. or tax I.D. No.)
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and irrevocably appoint as agent to transfer this Note on the books of the Company.
The agent may substitute another to act for him.
Sign exactly as your name appears on the other side of this Note.
Signature Guarantee:
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Date:
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Signature must be guaranteed by a participant
in a recognized signature guaranty medallion
program or other signature guarantor program
reasonably acceptable to the Trustee
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Signature of Signature Guarantee
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CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR
REGISTRATION OF TRANSFER RESTRICTED NOTE
Regions Bank
51 W Bay Street, 2nd Floor
Jacksonville, FL 32202
Email: [***]
This certificate relates to $ principal amount of Notes held in (check applicable space) book-entry or definitive form by the undersigned.
The undersigned (check one box below):
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has requested the Trustee by written order to deliver in exchange for its beneficial interest in the Global Note held by the Depository a Note or Notes in definitive, registered form of authorized denominations and an aggregate principal
amount equal to its beneficial interest in such Global Note (or the portion thereof indicated above);
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has requested the Trustee by written order to exchange or register the transfer of a Note or Notes.
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In connection with any transfer of any of the Notes evidenced by this certificate occurring while this Note is still a (i) Transfer Restricted Note and a Definitive Note or (ii) a Transfer Restricted Note and a
Global Note, the undersigned confirms that such Notes are being transferred in accordance with its terms:
CHECK ONE BOX BELOW
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(2)
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to the Registrar for registration in the name of the holder, without transfer; or
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(3)
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pursuant to an effective registration statement under the Securities Act; or
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(4)
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to a person reasonably believed to be a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) that purchases for its own account or for the account of a qualified
institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act; or
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(5)
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to a non-U.S. person outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 903 or 904 under the Securities Act and such Note shall be held immediately
after the transfer through Euroclear, Clearstream or their respective participants until the expiration of the Restricted Period (as defined in the Indenture); or
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(6)
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pursuant to another available exemption from registration provided by Rule 144 under the Securities Act.
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Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes evidenced by this certificate in the name of any Person other than the registered holder thereof; provided, however, that if box (5) or (6) is checked, the Company or the Trustee may require, prior to registering any such transfer of the Notes, such legal opinions,
certifications and other information as the Company or the Trustee have reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the
Securities Act.
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Sign exactly as your name appears on the other side of this Note.
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Date:
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Signature must be guaranteed by a participant
in a recognized signature guaranty medallion
program or other signature guarantor program
reasonably acceptable to the Trustee
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Signature of Signature Guarantee
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TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED.
The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it exercises sole investment discretion and that it and any such
account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the
Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption
from registration provided by Rule 144A.
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Date:
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NOTICE: To be executed by an executive officer
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[TO BE ATTACHED TO GLOBAL NOTES]
SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE
The initial principal amount of this Global Note is $ . The following increases or decreases in this Global Note have been made:
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Amount of decrease
in Principal Amount
of this Global Note
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Amount of increase
in Principal Amount
of this Global Note
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Principal amount of this
Global Note following
such decrease or increase
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Signature of authorized
signatory of Trustee or
Notes Custodian
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A-12