<SEC-DOCUMENT>0001140361-20-020191.txt : 20200911
<SEC-HEADER>0001140361-20-020191.hdr.sgml : 20200911
<ACCEPTANCE-DATETIME>20200911092717
ACCESSION NUMBER:		0001140361-20-020191
CONFORMED SUBMISSION TYPE:	8-A12B
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20200911
DATE AS OF CHANGE:		20200911

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN FINANCIAL GROUP INC
		CENTRAL INDEX KEY:			0001042046
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				311544320
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-A12B
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13653
		FILM NUMBER:		201170098

	BUSINESS ADDRESS:	
		STREET 1:		GREAT AMERICAN INSURANCE GROUP TOWER
		STREET 2:		301 E. 4TH STREET
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202
		BUSINESS PHONE:		5135792121

	MAIL ADDRESS:	
		STREET 1:		GREAT AMERICAN INSURANCE GROUP TOWER
		STREET 2:		301 E. 4TH STREET
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN FINANCIAL GROUP HOLDINGS INC
		DATE OF NAME CHANGE:	19970709
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-A12B
<SEQUENCE>1
<FILENAME>nt10014645x4_8a12b.htm
<DESCRIPTION>FORM 8-A12B
<TEXT>
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    <div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FORM 8-A</div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION<br>
        Washington, D.C.&#160; 20549<br>
        <br>
        For registration of certain classes of securities<br>
        pursuant to section 12(b) or (g) of the<br>
        <br>
        Securities Exchange Act of 1934</div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z278134149fe440bca14decd84b87a18b" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 100%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">American Financial Group, Inc.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: top; border-top: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">(Exact name of registrant as specified in its charter)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zae693a47ed50463ea52baace4fac8926" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 45%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Ohio</div>
            </td>
            <td style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">31-1544320</div>
            </td>
          </tr>
          <tr>
            <td style="width: 45%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">(Jurisdiction of incorporation</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">or organization)</div>
            </td>
            <td style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 45%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">(IRS Employer</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Identification No.)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z943de1b16c8d43b88602fc4773b215e6" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 45%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">301 East Fourth Street, Cincinnati, Ohio</div>
            </td>
            <td style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">45202</div>
            </td>
          </tr>
          <tr>
            <td style="width: 45%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">(Address of principal executive offices)</div>
            </td>
            <td style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 45%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">(Zip Code)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Securities to be registered pursuant to Section 12(b) of the Act:</div>
      <div style="font-family: 'Times New Roman', Times, serif;"> <br>
      </div>
      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6a3376793e014795ad053ed1cfb24a08" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="border-bottom: 2px solid; vertical-align: bottom; width: 45%; text-align: center;">
              <div>Title of each class<font style="font-family: 'Times New Roman',Times,serif;"> to be registered</font></div>
            </td>
            <td style="vertical-align: bottom; width: 10%;">&#160;</td>
            <td style="border-bottom: 2px solid; vertical-align: bottom; width: 45%;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Name of each exchange on</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">which each class is to be registered</div>
            </td>
          </tr>
          <tr>
            <td style="width: 45%; vertical-align: middle; text-align: center;">
              <div style="font-family: 'Times New Roman',Times,serif; text-indent: -9pt; margin-left: 9pt;">4.500% Subordinated</div>
              <div style="font-family: 'Times New Roman',Times,serif;">Debentures due 2060</div>
            </td>
            <td style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 45%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">New York Stock Exchange</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">If this form relates to the registration of a class of securities pursuant to Section 12(b) of the Exchange Act and is effective pursuant to General Instruction A.(c) or (e), check the
        following box. &#9746;</div>
      <div style="font-family: 'Times New Roman', Times, serif;"> <br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">If this form relates to the registration of a class of securities pursuant to Section 12(g) of the Exchange Act and is effective pursuant to General Instruction A.(d) or (e), check the
        following box. &#9744;</div>
      <div style="font-family: 'Times New Roman', Times, serif;"> <br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">If this form relates to the registration of a class of securities concurrently with a Regulation A offering, check the following box. &#9744;</div>
      <div style="font-family: 'Times New Roman', Times, serif;"> <br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">Securities Act registration statement or Regulation A offering statement file number to which this form relates: 333-223216</div>
      <div style="font-family: 'Times New Roman', Times, serif;"> <br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">Securities to be registered pursuant to Section 12(g) of the Act:&#160; &#160; None
        <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center"></div>
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      <div><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Description
            of Registrant&#8217;s Securities to be Registered.</font></div>

      <div><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
        </font></div>

      <div style="text-indent: 36pt; font-family: 'Times New Roman',Times,serif;">American Financial Group, Inc. (the &#8220;Registrant&#8221;) hereby incorporates by reference herein the description of its 4.500% Subordinated Debentures due
        2060 (the &#8220;Debentures&#8221;) to be registered hereunder, set forth under the heading &#8220;Description of Debentures&#8221; in the Registrant&#8217;s Prospectus Supplement, dated September 8, 2020 and filed September 9, 2020, and, to the extent not superseded by the
        aforementioned description in the Prospectus Supplement, as set forth under the heading &#8220;Description of Debt Securities&#8221; in the Registrant&#8217;s Prospectus dated February 26, 2018, constituting part of the Registrant&#8217;s registration statement on Form
        S-3 (File No. 333-223216) filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended. The Debentures are expected to be listed on the New York Stock Exchange.</div>

      <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"> <font style="font-size: 10pt;"><br>
        </font> </div>

      <div><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Exhibits.</font></div>

      <div><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
        </font></div>

      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z2fd871aa3e8c42c7b4087c2874f66a83" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 6.98%; vertical-align: top;" nowrap="nowrap">
              <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><a href="https://www.sec.gov/Archives/edgar/data/1042046/000119312514349473/d792390d8a12b.htm">4.1</a></div>
            </td>
            <td style="width: 93.02%; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif;">Subordinated Debt Securities Indenture dated as of September 23, 2014, between the Registrant, as Issuer, and U.S. Bank National Association, as Trustee
                (incorporated by reference to Exhibit 4.1 to the Registration Statement on Form 8-A (File No. 001-13653), filed by the Registrant on September 23, 2014).</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 6.98%; vertical-align: top;" nowrap="nowrap">
              <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><a href="nt10014645x4_ex4-2.htm">4.2</a></div>
            </td>
            <td style="width: 93.02%; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif;">Form of Sixth Supplemental Indenture to be dated as of September 15, 2020 between the Registrant, as Issuer and U.S. Bank National Association, as Trustee.</div>
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 6.98%; vertical-align: top;" nowrap="nowrap">
              <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><a href="nt10014645x4_ex4-2.htm">4.3</a></div>
            </td>
            <td style="width: 93.02%; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif;">Form of 4.500% Subordinated Debentures due 2060 (included in Exhibit 4.2).</div>
              <div>&#160;</div>
            </td>
          </tr>

      </table>

      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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      <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SIGNATURE</div>

      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;"> <font style="font-size: 10pt;"><br>
        </font> </div>

      <div style="text-indent: 36pt; font-family: 'Times New Roman',Times,serif;">Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant has duly caused this registration statement to be
        signed on its behalf by the undersigned, thereunto duly authorized.</div>

      <div><br>
         </div>

      <div>
        <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z8fccdf5e16134621b11b0a726de2bac3" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td colspan="2" rowspan="1" style="width: 5%; vertical-align: top;">
                <div style="font-family: 'Times New Roman',Times,serif;">AMERICAN FINANCIAL GROUP, INC.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 45%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 45%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 45%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;"><br>
                 </td>
              <td rowspan="1" style="width: 2.5%; vertical-align: top; padding-bottom: 2px;">
                <div style="font-family: 'Times New Roman',Times,serif;">
                  <div>By:</div>
                </div>
              </td>
              <td rowspan="1" style="width: 2.5%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman',Times,serif;">/s/ Mark A. Weiss</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 45%; vertical-align: top;">
                <div style="font-family: 'Times New Roman',Times,serif;">Mark A. Weiss</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 45%; vertical-align: top;">
                <div style="font-family: 'Times New Roman',Times,serif;">Vice President</div>
              </td>
            </tr>

        </table>
      </div>

      <div><br>
         </div>
       <br>

      <div style="font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="font-size: 10pt;">Dated:&#160; September 11, 2020
        </font>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.2
<SEQUENCE>2
<FILENAME>nt10014645x4_ex4-2.htm
<DESCRIPTION>EXHIBIT 4.2
<TEXT>
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    <title></title>
    <!-- Licensed to: Broadridge Finanicial Soultions, Inc.
         Document created using EDGARfilings PROfile 7.1.0.0
         Copyright 1995 - 2020 Broadridge -->
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  <font style="font-weight: bold;"> </font>
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    <div style="font-weight: bold; text-align: right;">Exhibit 4.2<br>
    </div>
  </div>
  <font style="font-weight: bold;"> </font>
  <div><br>
  </div>
  <div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">AMERICAN FINANCIAL GROUP, INC.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">U.S. BANK NATIONAL ASSOCIATION,</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">TRUSTEE</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SIXTH SUPPLEMENTAL INDENTURE</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">DATED SEPTEMBER 15, 2020</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(SUBORDINATED DEBT SECURITIES)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">TO INDENTURE</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">DATED AS OF SEPTEMBER 23, 2014</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">4.500% Subordinated Debentures due 2060</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">TABLE OF CONTENTS</div>
    <div style="text-align: right; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;"><u>Page</u></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zc5c0f616e3354b609f284019893fe16d" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td colspan="3" rowspan="1" style="width: 5%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Article 1. APPLICATION OF SIXTH SUPPLEMENTAL INDENTURE; DEFINITIONS</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">2</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 1.1</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Application of Sixth Supplemental Indenture</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">2</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 1.2</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Definitions</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">2</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" colspan="3" style="width: 5%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top; text-align: right;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" colspan="3" style="width: 5%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Article 2. THE SERIES OF DEBENTURES</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">3</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.1</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Title</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">3</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.2</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Global Form</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">3</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.3</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Limitation on Aggregate Principal Amount</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">3</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.4</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Registrar, Paying Agent and Place of Payment</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">4</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.5</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Principal Payment Date</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">4</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.6</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Interest and Interest Rates</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">4</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.7</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Sinking Fund</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">4<br>
            </div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.8</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Option to Defer Interest Payments</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">5</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.9</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Redemption at the Option of the Company</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">5</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.10</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Payment Restrictions During a Deferral Period</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">6</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.11</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Events of Default</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">7</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 2.12</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Tax Treatment</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">8</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" colspan="3" style="width: 5%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 10%; vertical-align: top; text-align: right;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" colspan="3" style="width: 5%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Article 3. MISCELLANEOUS PROVISIONS</div>
          </td>
          <td style="width: 10%; vertical-align: top; text-align: right;">8<br>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 3.1</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Trustee Not Responsible for Recitals</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">8</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 3.2</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Payment of Expenses Upon Resignation or Removal</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">8</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 3.3</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Adoption, Ratification and Confirmation</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">8</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 3.4</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Counterparts</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">8<br>
            </div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Section 3.5</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Governing Law</div>
          </td>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">9</div>
          </td>
        </tr>

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    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">AMERICAN FINANCIAL GROUP, INC.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SIXTH SUPPLEMENTAL INDENTURE TO</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SUBORDINATED INDENTURE DATED SEPTEMBER 23, 2014</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(SUBORDINATED DEBT SECURITIES)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">$200,000,000</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">4.500% Subordinated Debentures due 2060</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">SIXTH SUPPLEMENTAL INDENTURE, dated as of September 15, 2020, between AMERICAN FINANCIAL GROUP, INC., an Ohio corporation (the &#8220;<u>Company</u>&#8221;), and U.S. BANK NATIONAL
      ASSOCIATION, a national banking association, as Trustee (the &#8220;<u>Trustee</u>&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">RECITALS</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf83a5f6290424e1cb2ed781728e0cb44" cellpadding="0" cellspacing="0">

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          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif;">A.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">The Company has executed and delivered to the Trustee an indenture for subordinated debt securities, dated as of September 23, 2014 (the &#8220;<u>Base Indenture</u>&#8221;), providing for the
              issuance from time to time of series of the Company&#8217;s Debt Securities.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9858c4efe90641c0a82bfd9ee776a0c5" cellpadding="0" cellspacing="0">

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          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif;">B.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Section 3.1 of the Base Indenture provides for certain of the terms of or with respect to any series of Debt Securities issued under the Base Indenture to be established in an indenture
              supplemental to the Indenture.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0a9937be96d940e389406101117306d2" cellpadding="0" cellspacing="0">

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          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif;">C.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Section 9.1(7) of the Base Indenture provides for the Company and the Trustee to enter into an indenture supplemental to the Indenture to establish the form and terms of Debt Securities
              of any series as provided by Sections 2.1 and 3.1 of the Base Indenture.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
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          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif;">D.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">The Company desires to execute this Sixth Supplemental Indenture pursuant to Section 2.1 of the Base Indenture to establish the form, and pursuant to Section 3.1 of the Base Indenture
              to provide for the issuance, of a series of its subordinated debt securities designated as its 4.500% Subordinated Debentures due 2060 (the &#8220;<u>Debentures</u>&#8221;), in an initial aggregate principal amount of $200,000,000.&#160; The Debentures are a
              series of the Company&#8217;s Debt Securities as referred to in Section 3.1 of the Base Indenture.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">NOW, THEREFORE, in consideration of the agreements and obligations set forth in this Sixth Supplemental Indenture and for other good and valuable consideration, the
      sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:</div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">ARTICLE 1.</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;"><u>APPLICATION OF SIXTH SUPPLEMENTAL INDENTURE; DEFINITIONS</u></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 1.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Application of Sixth Supplemental Indenture</u>.&#160; Notwithstanding any
        other provision of this Sixth Supplemental Indenture, all provisions of this Sixth Supplemental Indenture are expressly and solely for the benefit of the Holders of the Debentures and any such provisions shall not be deemed to apply to any other
        Debt Securities issued under the Base Indenture and shall not be deemed to amend, modify or supplement the Base Indenture for any purpose other than with respect to the Debentures.&#160; Unless otherwise expressly specified, references in this Sixth
        Supplemental Indenture to specific Article numbers or Section numbers refer to Articles and Sections contained in this Sixth Supplemental Indenture as they amend or supplement the Base Indenture, and not the Base Indenture or any other document.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 1.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Definitions</u>.&#160; The following defined terms used in this Sixth
        Supplemental Indenture shall, unless the context otherwise requires, have the meanings specified below.&#160; Capitalized terms used for which no definition is provided herein shall have the meanings set forth in the Base Indenture:</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif;">&#8220;<u>Depository</u>&#8221; has the meaning specified in Section 2.2.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif;">&#8220;<u>Global Debenture</u>&#8221; has the meaning specified in Section 2.2.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif;">&#8220;<u>interest</u>,&#8221; when used with respect to the Debentures, includes interest accruing on the Debentures, interest on deferred interest payments and other
      unpaid amounts then due and payable and compounded interest, as applicable, and in each case, to the extent permitted by applicable law.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif;">&#8220;<u>Interest Payment Date</u>&#8221; means each March 15, June 15, September 15 and December 15, beginning December 15, 2020.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif;">&#8220;<u>Junior Subordinated Payment</u>&#8221; has the meaning specified in Section 13.4 of the Base Indenture.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif;">&#160;&#8220;<u>Optional Deferral Period</u>&#8221; means the period commencing on an Interest Payment Date with respect to which the Company defers interest pursuant to
      Section 2.8 and ending on the earlier of (i) the fifth anniversary of that Interest Payment Date and (ii) the next Interest Payment Date on which the Company has paid all deferred and unpaid amounts (including compounded interest on such deferred
      amounts) and all other accrued interest on the Debentures.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif;">&#8220;<u>Proceeding</u>&#8221; has the meaning specified in Section 13.4 of the Base Indenture.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif;">&#8220;<u>Rating Agency Event</u>&#8221; means that any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) under the Exchange
      Act that then publishes a rating for the Company (a &#8220;<u>rating agency</u>&#8221;) amends, clarifies or changes the criteria it uses to assign equity credit to securities such as the Debentures, which amendment, clarification or change results in (a) the
      shortening of the length of time the Debentures are assigned a particular level of equity credit by that rating agency as compared to the length of time the Debentures would have been assigned that level of equity credit by that rating agency or its
      predecessor on the initial issuance of the Debentures; or (b) the lowering of the equity credit (including up to a lesser amount) assigned to the Debentures by that rating agency compared to the equity credit assigned by that rating agency or its
      predecessor on the initial issuance of the Debentures.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">2</font></div>
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    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; font-family: 'Times New Roman', Times, serif;">&#8220;<u>Tax Event</u>&#8221; means that the Company will have received an opinion of counsel, rendered by a law firm of nationally recognized standing that is
      experienced in such matters, stating that, as a result of any:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">amendment to, or change in (including any promulgation,
        enactment, execution or modification of) the laws (or any regulations under those laws) of the United States or any political subdivision thereof or therein affecting taxation;</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">official administrative pronouncement (including a private
        letter ruling, technical advice memorandum or similar pronouncement) or judicial decision or administrative action or other official pronouncement interpreting or applying the laws or regulations enumerated in clause (a) above, by any court,
        governmental agency or regulatory authority; or</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">threatened challenge asserted in connection with an audit of
        the Company, or a threatened challenge asserted in writing against any taxpayer that has raised capital through the issuance of securities that are substantially similar to the Debentures,</font></div>
    <div><br>
    </div>
    <div style="margin-left: 36pt; font-family: 'Times New Roman', Times, serif;">which amendment or change is enacted or effective or which pronouncement or decision is announced or which challenge is asserted against the Company or becomes publicly known
      on or after September 15, 2020, there is more than an insubstantial increase in the risk that interest accruable or payable by the Company on the Debentures is not, or will not be, deductible by the Company in whole or in part, for United States
      federal income tax purposes.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">ARTICLE 2.</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;"><u>THE SERIES OF DEBENTURES</u></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Title</u>.&#160; There shall be a series of Debt Securities designated the
        &#8220;4.500% Subordinated Debentures due 2060.&#8221;</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Global Form</u>.&#160; The Debentures shall be issued initially in the
        form of fully registered global Debt Securities (the &#8220;<u>Global Debentures</u>&#8221;) in substantially the form attached as EXHIBIT A hereto, which shall be deposited on behalf of the purchasers of the Debentures represented thereby with The Depository
        Trust Company, New York, New York (the &#8220;<u>Depository</u>&#8221;) and registered in the name of Cede &amp; Co., the Depositary&#8217;s nominee, duly executed by the Company, authenticated by the Trustee.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Limitation on Aggregate Principal Amount</u>.&#160; The aggregate
        principal amount of Debentures shall initially be limited to $200,000,000 (except for Debentures authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Debentures of such series pursuant to Section
        3.4, Section 3.5, Section 3.6, Section 9.6 or Section 11.7 of the Base Indenture).&#160; The Company may, without notice to or consent of the Holders of the Debentures, issue additional Debt Securities having the same interest rate, maturity date and
        other terms as described in the related prospectus supplement and prospectus; provided, that the additional Debt Securities are fungible with the Debentures for United States federal income tax purposes.&#160; Any additional Debt Securities, together
        with the Debentures offered by the related prospectus supplement, will constitute a single series of Debt Securities under the Indenture.&#160; No additional Debt Securities may be issued if an Event of Default under the Indenture has occurred and is
        continuing with respect to the Debt Securities.</font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">3</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.4</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Registrar, Paying Agent and Place of Payment</u>.&#160; The Company
        initially appoints the Trustee as Registrar and Paying Agent for the Debentures and the Corporate Trust Office of the Trustee be and hereby is designated as the Place of Payment where the Debentures may be presented or surrendered for payment,
        where the Debentures may be surrendered for registration of transfer or exchange and where notices and demand to or upon the Company in respect of the Debentures and the Indenture.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.5</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Principal Payment Date</u>.&#160; The principal amount of the Debentures
        outstanding (together with any accrued and unpaid interest) shall be payable in a single installment on September 15, 2060, which date shall be the Maturity of the Debentures Outstanding.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.6</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Interest and Interest Rates</u>.&#160; The rate at which the Debentures
        shall bear interest shall be 4.500% per annum; the date from which interest shall accrue on the Debentures shall be September 15, 2020, or the most recent Interest Payment Date to which interest has been paid or provided for; the Interest Payment
        Dates for the Debentures shall be March 15, June 15, September 15 and December 15, beginning December 15, 2020; the interest so payable, and punctually paid or duly provided for, on any Interest Payment Date, will be paid, in immediately available
        funds, to the Persons in whose names the Debenture (or predecessor Debenture) is registered (which shall initially be the Depository) at the close of business on the Regular Record Date for such interest, which shall be March 1, June 1, September 1
        and December 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date.&#160; However, interest paid on the Maturity Date or a Redemption Date will be payable to the Person to whom the principal will be payable.&#160;
        Interest shall be computed on the basis of a 360 day year comprised of twelve 30-day months.&#160; For so long as the Debentures are represented in global form by one or more Global Debt Securities, all payments of principal (and premium, if any) and
        interest shall be made by wire transfer of immediately available funds to the Depository or its nominee, as the case may be, as the registered owner of the Global Debenture representing such Debentures.&#160; In the event that definitive Debentures
        shall have been issued, all payments of principal (and premium, if any) and interest shall be made by wire transfer of immediately available funds to the accounts of the registered Holders thereof; provided, that the Company may at its option pay
        interest by check to the registered address of each Holder of a definitive Debenture.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.7</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Sinking Fund</u>.&#160; The Company has no obligation to redeem or
        purchase any Debentures pursuant to any sinking fund or analogous requirement or upon the happening of a specified event or at the option of a Holder thereof.</font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">4</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.8</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Option to Defer Interest Payments</u>.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">So long as no Event of Default with respect to the Debentures
        has occurred and is continuing, the Company shall have the right, at any time and from time to time, to defer the payment of interest on the Debentures for one or more Optional Deferral Periods of up to five consecutive years, provided that no
        Optional Deferral Period shall extend beyond September 15, 2060, any earlier accelerated maturity date arising from an Event of Default or any other earlier redemption of the Debentures.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">During any Optional Deferral Period, interest shall continue
        to accrue on the Debentures, and deferred interest payments shall accrue additional interest at the then applicable interest rate on the Debentures, compounded quarterly as of each Interest Payment Date to the extent permitted by applicable law.&#160;
        No interest otherwise due during an Optional Deferral Period shall be due and payable on the Debentures until the end of such Optional Deferral Period except upon an acceleration or redemption of the Debentures during such deferral period.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">At the end of any Optional Deferral Period, the Company shall
        pay all deferred interest (including compounded interest thereon) on the Debentures to the Persons in whose names the Debentures are registered at the close of business on the Regular Record Date with respect to the Interest Payment Date at the end
        of such Optional Deferral Period.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">At the end of five years following the commencement of any
        Optional Deferral Period, the Company shall pay all accrued and unpaid deferred interest, including compounded interest thereon.&#160; If, at the end of any Optional Deferral Period, the Company shall have paid all deferred interest due on the
        Debentures, including compounded interest, the Company may again defer interest payments on the Debentures pursuant to this Section 2.8.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">The Company shall give written notice of its election to
        commence or continue any Optional Deferral Period to the Trustee and the Holders of the Debentures at least two Business Days and not more than 60 Business Days before the next Interest Payment Date.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.9</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Redemption at the Option of the Company</u>.&#160; The provisions of
        Article 11 of the Base Indenture, as supplemented by the provisions of this Sixth Supplemental Indenture, shall apply to the Debentures.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The Company may redeem the Debentures in increments of $25 principal amount:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">in whole at any time, or in part from time to time, on or
        after September 15, 2025, at a Redemption Price equal to their principal amount plus accrued and unpaid interest (including compounded interest, if any) to, but excluding, the Redemption Date; provided that if the Debentures are not redeemed in
        whole, at least $25 million aggregate principal amount of the Debentures must remain Outstanding after giving effect to such redemption;</font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">5</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">in whole, but not in part, at any time prior to September 15,
        2025, within 90 days of the occurrence of a Tax Event, at a Redemption Price equal to their principal amount plus accrued and unpaid interest (including compounded interest, if any) to, but excluding, the Redemption Date; or</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">in whole, but not in part, at any time prior to September 15,
        2025, within 90 days of the occurrence of a Rating Agency Event, at a Redemption Price equal to 102% of their principal amount plus accrued and unpaid interest (including compounded interest, if any) to, but excluding, the Redemption Date.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.10</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Payment Restrictions During a Deferral Period</u>.&#160; After the
        commencement of an Optional Deferral Period and until the Company has paid all accrued and unpaid interest on the Debentures, the Company shall not, and shall not permit any Subsidiary to:</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">declare or pay any dividends or distributions on, or redeem,
        purchase, acquire or make a liquidation payment with respect to, any Capital Stock of the Company,</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">make any payment of principal, interest or premium on or
        repay, repurchase or redeem any Indebtedness Ranking on a Parity with the Debentures or Indebtedness Ranking Junior to the Debentures, or</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">make any guarantee payments with respect to any guarantee by
        the Company of any securities of any Subsidiary if such guarantee ranks pari passu with or junior in right of payment to the Debentures;</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">other than:</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">dividends or distributions in shares of, or options, warrants
        or rights to subscribe for or purchase shares of, Capital Stock of the Company where the dividend stock or stock issuable upon exercise of such options, warrants or other rights is the same stock as that on which the dividend is being paid or ranks
        equally with or junior to such stock,</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">any declaration of a dividend in connection with the
        implementation of a stockholder&#8217;s rights plan, or the issuance of Capital Stock of the Company under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto,</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">as a result of a reclassification of any series or class of
        Capital Stock of the Company or the exchange or conversion of one class or series of Capital Stock of the Company for or into another class or series of Capital Stock of the Company,</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">the purchase of fractional interests in shares of Capital
        Stock of the Company pursuant to an acquisition or the conversion or exchange provisions of such Capital Stock or the security being converted or exchanged,</font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">6</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">purchases or acquisitions of shares of Capital Stock of the
        Company in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of directors, officers, agents, consultants or employees of the Company or satisfaction by the Company of its obligations under
        any dividend reinvestment plan of the Company or director, officer, agent, consultant or employee stock purchase plans of the Company,</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">any exchange, redemption or conversion of any class or
        series of Capital Stock of the Company, or the Capital Stock of a Subsidiary, for any other class or series of Capital Stock of the Company, or of any class or series of Indebtedness for Borrowed Money for any class or series of Capital Stock of
        the Company,</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">purchases or acquisitions of shares of Capital Stock of the
        Company in connection with satisfaction by the Company of its obligations under any contract or security entered into before commencement of the Optional Deferral Period, and</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">(x) payment of current or deferred interest on
        Indebtedness Ranking on a Parity with the Debentures made pro rata to the amounts due on the Debentures and all other Indebtedness Ranking on a Parity with the Debentures and (y) payment of principal or current or deferred interest on the Company&#8217;s
        Indebtedness Ranking on a Parity with the Debentures that, if not made, would cause the Company to breach the terms of the instrument governing such Indebtedness Ranking on a Parity with the Debentures.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.11</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Events of Default</u>.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">Clauses (1) through (5) of Section 5.1 and Section 5.2, in
        its entirety, of the Base Indenture shall not apply to the Debentures.&#160; Clauses (6) and (7) of Section 5.1 of the Base Indenture shall apply to the Debentures.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">If an Event of Default specified in Clause (6) or (7) of
        Section 5.1 of the Base Indenture occurs, the principal amount of all the Debentures shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">The Trustee shall provide to the Holders of the Debentures
        notice of any Event of Default or default with respect to the Debentures within 90 days after the actual knowledge of a Responsible Officer of the Trustee of such Event of Default or default.&#160; However, except in the case of a default in payment on
        the Debentures, the Trustee will be protected in withholding the notice if one of its Responsible Officers determines that withholding of the notice is in the interest of such Holders.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">The Trustee shall have no right or obligation under the
        Indenture or otherwise to exercise any remedies on behalf of any Holders of the Debentures pursuant to the Indenture in connection with any default, unless such remedies are available under the Indenture and the Trustee is directed to exercise such
        remedies pursuant to and subject to the conditions of Section 5.12 of the Base Indenture, provided, however, that this provision shall not affect the rights of the Trustee with respect to any Events of Default as set forth in clause (b) of this
        Section 2.11 that may occur with respect to the Debentures.&#160; In connection with any such exercise of remedies the Trustee shall be entitled to the same immunities and protections and remedial rights (other than acceleration) as if such default were
        an Event of Default.</font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">7</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">For purposes of this Section 2.11, the term &#8220;default&#8221; means
        any of the following events:</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">default in the payment of interest, including compounded
        interest, in full on any Debentures for a period of 30 days after the conclusion of a five-year period following the commencement of any Optional Deferral Period if such Optional Deferral Period has not ended prior to the conclusion of such
        five-year period;</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">default in the payment of principal of or premium, if any,
        on the Debentures when due; or</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">default in the observance or performance of any covenant or
        agreement contained in the Indenture or the Debentures.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 2.12</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Tax Treatment</u>.&#160; Each Holder of the Debentures will, by accepting
        the Debentures or a beneficial interest therein, be deemed to have agreed that the Holder intends that the Debentures constitute indebtedness and will treat the Debentures as indebtedness for all United States federal, state and local tax purposes.</font></div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">ARTICLE 3.</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;"><u>MISCELLANEOUS PROVISIONS</u></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 3.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Trustee Not Responsible for Recitals</u>.&#160; The recitals herein
        contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof.&#160; The Trustee makes no representation as to the validity or sufficiency of this Sixth Supplemental Indenture.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 3.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Payment of Expenses Upon Resignation or Removal</u>.&#160; Upon
        termination of this Sixth Supplemental Indenture or the Base Indenture or the removal or resignation of the Trustee, unless otherwise stated, the Company shall pay to the Trustee all amounts then due upon such termination, removal or resignation.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 3.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Adoption, Ratification and Confirmation</u>.&#160; The Base Indenture, as
        supplemented and amended by this Sixth Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 3.4</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Counterparts</u>.&#160; This Sixth Supplemental Indenture may be executed
        in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.</font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">8</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">Section 3.5</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;"><u>Governing Law</u>.&#160; THIS SIXTH SUPPLEMENTAL INDENTURE AND EACH
        DEBENTURE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">IN WITNESS WHEREOF, the parties hereto have caused this Sixth Supplemental Indenture to be duly executed on the day and year first above written.</div>
    <br>
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        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">AMERICAN FINANCIAL GROUP, INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">By:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"><br>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Name:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Title:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">U.S. BANK NATIONAL ASSOCIATION, as Trustee</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">By:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Name:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Title:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>

    </table>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">9</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-align: right; font-family: 'Times New Roman', Times, serif;">EXHIBIT A</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(FORM OF FACE OF DEBENTURE)</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">THIS DEBENTURE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN THE INDENTURE) OR
      A NOMINEE THEREOF.&#160; THIS GLOBAL SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN
      WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE
      DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (&#8220;DTC&#8221;), TO THE COMPANY (AS DEFINED BELOW) OR ITS
      AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE &amp; CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &amp; 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 &amp; CO., HAS AN INTEREST
      HEREIN.</div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;"> <br>
    </div>
    <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zbfee4c930a294e2c9462b87346f3ef57" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 52.94%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Certificate No. 1</div>
          </td>
          <td style="width: 47.06%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman', Times, serif;">$200,000,000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 52.94%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Dated: September 15, 2020</div>
          </td>
          <td style="width: 47.06%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman', Times, serif;">CUSIP number: 025932864</div>
          </td>
        </tr>

    </table>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">AMERICAN FINANCIAL GROUP, INC.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">4.500% Subordinated Debentures due 2060</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Principal Amount Per Subordinated Debenture: $25.00</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">American Financial Group, Inc., an Ohio corporation (hereinafter called the &#8220;<u>Company</u>,&#8221; which term includes any successor Person under the Indenture referred to
      below), for value received, hereby promises to pay to Cede &amp; Co., or registered assigns, the principal sum of $200,000,000 United States Dollars, subject to increase or decrease as set forth in the attached Schedule, on September 15, 2060 and to
      pay interest thereon from September 15, 2020 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, quarterly in arrears on March 15, June 15, September 15 and December 15 in each year (each an &#8220;<u>Interest


        Payment Date</u>&#8221;), beginning December 15, 2020 at the rate of 4.500% per annum, until the principal hereof is paid or duly made available for payment.&#160; The interest so payable and punctually paid or duly provided for on any Interest Payment Date
      shall, as provided in such Indenture, be paid to the Person in whose name this Debenture (or one or more Predecessor Debt Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 1,
      June 1, September 1 and December 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date.&#160; However, interest paid on the Maturity or a Redemption Date shall be paid to the Person to whom the principal will be
      payable.&#160; Any such interest which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the Holder hereof on the relevant Regular Record Date by virtue of having been such
      Holder, and may be paid to the Person in whose name this Debenture (or one or more Predecessor Debt Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee,
      notice whereof shall be given to Holders of the Debentures not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the
      Debentures may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    </div>
    <!--PROfilePageNumberReset%Num%2%A-%%-->
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Payment of the principal of (and premium, if any) and the interest on this Debenture shall be made at the designated office of the Trustee, in such currency of the United
      States of America as at the time of payment is legal tender for payment of public and private debts; provided that for so long as the Debentures are represented in global form by one or more Global Debt Securities, all payments of principal (and
      premium, if any) and interest shall be made by wire transfer of immediately available funds to the Depositary or its nominee, as the case may be, as the registered owner of the Global Security representing such Debentures.&#160; In the event that
      definitive Debentures shall have been issued, all payments of principal (and premium, if any) and interest shall be made by wire transfer of immediately available funds to the accounts of the registered Holders thereof; provided, that the Company may
      at its option pay interest by check to the registered address of each Holder of a definitive Debenture.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">This Debenture is one of the duly authorized series of Debt Securities of the Company, designated as the Company&#8217;s &#8220;4.500% Subordinated Debentures due 2060&#8221;, initially
      limited to an aggregate principal amount of $200,000,000, all issued or to be issued under and pursuant to an Indenture (the &#8220;<u>Base Indenture</u>&#8221;), dated as of September 23, 2014, between the Company and U.S. Bank National Association, as Trustee
      (hereinafter referred to as the &#8220;<u>Trustee</u>&#8221;), as supplemented by the Sixth Supplemental Indenture thereto, dated as of September 15, 2020 (the &#8220;<u> Sixth Supplemental Indenture</u>,&#8221; and together with the Base Indenture, the &#8220;<u>Indenture</u>&#8221;).&#160;


      Reference is hereby made to the Indenture for a description of the respective rights, limitation of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Debentures.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The Debentures will be unsecured obligations of the Company and will be subordinated to all Senior Indebtedness of the Company in the manner set forth in the Indenture.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Subject to, and in accordance with, the Sixth Supplemental Indenture, the Company shall have the right, at any time and from time to time, to defer the payment of interest on
      the Debentures.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The Company may redeem the Debentures in the manner and under the circumstances set forth in the Indenture.</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">A-2</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">If an Event of Default with respect to the Debentures shall occur and be continuing, the principal of the Debentures shall, automatically and without any declaration or other
      action on the part of the Trustee or any Holder, become immediately due and payable.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of
      the Holders of the Debt Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority in aggregate principal amount of the Debt Securities at the
      time Outstanding of each series affected thereby.&#160; The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Debt Securities of any series at the time Outstanding, on behalf of the
      Holders of all Debt Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.&#160; Any such consent or waiver by the Holder of this
      Debenture shall be conclusive and binding upon such Holder and upon all future Holders of this Debenture and of any Debenture issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
      consent or waiver is made upon this Debenture.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">No reference herein to the Indenture and no provision of this Debenture or of the Indenture shall alter or impair the right of the Holder of this Debenture, which is absolute
      and unconditional, to receive payment of the principal of and, subject to certain qualifications in the Indenture, interest on this Debenture at the times herein and in the Indenture prescribed and to institute suit for the enforcement of any such
      payment unless the Holder of this Debenture shall have consented to the impairment of such right.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Debenture may be registered in the Security Register, upon surrender
      of this Debenture for registration of transfer at the office or agency of the Company in any place where the principal of (and premium, if any) and interest on this Debenture are payable, duly endorsed by, or accompanied by a written instrument of
      transfer in form reasonably satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Debentures of this series and of any authorized
      denominations and of a like aggregate principal amount and tenor, shall be issued to the designated transferee or transferees.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The Debentures are issuable only in registered form without coupons in denominations of $25 and multiples of $25 in excess thereof.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">No service charge shall be made for any such registration of transfer or for exchange of this Debenture, but the Company or the Trustee may require payment of a sum
      sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of a Debenture, other than in certain cases provided in the Indenture.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Prior to due presentment of this Debenture for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
      name this Debenture is registered as the owner hereof for all purposes, whether or not this Debenture be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">A-3</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The Indenture contains provisions whereby (i) the Company may be discharged from its obligations with respect to the Debentures (subject to certain exceptions) or (ii) the
      Company may be released from its obligations under specified covenants and agreements in the Indenture, in each case if the Company irrevocably deposits with the Trustee money or U.S. Government Obligations sufficient to pay and discharge the entire
      indebtedness on all Debentures of this series, and satisfies certain other conditions, all as more fully provided in the Indenture.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">This Debenture shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflicts of laws rules of such state.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">All terms used in this Debenture which are defined in the Indenture shall have the meanings assigned to them in the Indenture.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee under the Indenture by the manual signature of one of its authorized
      signatories, this Debenture shall not be entitled to any benefits under the Indenture or be valid or obligatory for any purpose.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">IN WITNESS WHEREOF, the Company has caused this instrument to be executed.</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">AMERICAN FINANCIAL GROUP, INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">By:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"><br>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Name:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Title:</div>
          </td>
          <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>

    </table>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">A-4</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CERTIFICATE OF AUTHENTICATION</div>
    <div><br>
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    <div style="text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">This is one of the Debt Securities, of the series designated herein, described&#160; in the within-mentioned Indenture.</div>
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    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Dated: September 15, 2020</div>
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    <div style="font-family: 'Times New Roman', Times, serif;">U.S. BANK NATIONAL ASSOCIATION,</div>
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    <div style="text-align: center;">FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto</div>
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                  <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 9pt;">(Please print or typewrite name and address including postal zip code of Assignee)</div>
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    <div style="font-family: 'Times New Roman', Times, serif;">the Debentures of AMERICAN FINANCIAL GROUP, INC. referenced in this certificate and does hereby irrevocably constitute and appoint attorney to transfer the said Debenture on the books of the
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    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular, without alteration or
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">American Financial Group, Inc.</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">4.500% Subordinated Debenture due 2060</div>
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    <div style="font-family: 'Times New Roman', Times, serif;">No: 1</div>
    <div><br>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SCHEDULE OF INCREASES AND DECREASES IN GLOBAL DEBENTURE</div>
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    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">The following increases or decreases in this Global Debenture have been made:</div>
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          <td style="width: 1.15%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 28.33%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 13.33%; vertical-align: top;">&#160;</td>
          <td style="width: 1.15%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.67%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 16.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 28.33%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 1.15%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 28.33%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 13.33%; vertical-align: top;">&#160;</td>
          <td style="width: 1.15%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 28.33%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 16.35%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
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  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">A-7</font>
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