NORTH AMERICAN PALLADIUM LTD. as Issuer and as U.S. Trustee and as Canadian Trustee FORM OF INDENTURE Dated as of —Indenture • December 21st, 2012 • North American Palladium LTD • Metal mining
INDENTURE, dated as of — between NORTH AMERICAN PALLADIUM LTD., a corporation duly incorporated and existing under the federal laws of the Canada (herein called the “Company”), having its principal executive offices at Royal Bank Plaza, South Tower, 200 Bay Street, Suite 2350, P.O. Box 93, Toronto ON M5J 2J2, and —, a — existing under the laws of —, as U.S. trustee (herein called the “U.S. Trustee”), and —, a trust company duly organized and existing under the laws of —, as Canadian trustee (the “Canadian Trustee” and, together with the U.S. Trustee, the “Trustees”).
