NORTH AMERICAN PALLADIUM LTD. as Issuer and as U.S. Trustee and as Canadian Trustee FORM OF INDENTURE Dated as of ·Indenture • January 26th, 2010 • 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 Suite 2116, 130 Adelaide Street West, Toronto, Ontario, M5H 3P5, 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”).
