Document:

c32316_ex4-2

 

  THE REGISTERED HOLDER OF THIS PURCHASE OPTION BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN PROVIDED.

NOT EXERCISABLE PRIOR TO

  ___________ , 2005. VOID AFTER 5:00 P.M. EASTERN TIME,
  _________
, 2009.

PURCHASE OPTION 

For the Purchase of up to 

110,000 Shares of Common Stock 

of 

GURUNET
  CORPORATION

(A Delaware Corporation)

1.  Purchase Option.

     THIS CERTIFIES THAT, in consideration of $100.00 duly paid by or on behalf of
  ____________________________
  (“Holder”), as registered owner of this Purchase Option, to GuruNet Corporation (“Company”), Holder
    is entitled, at any time or from time to time at or after
  ____________, 2005 (“Commencement Date”), and at or before 5:00 p.m., Eastern Time,
  ____________, 2009 (“Expiration Date”), but not thereafter, to
    subscribe for, purchase and receive, in whole or in part, up to one hundred ten thousand (110,000) shares of Common Stock of the Company, $.001 par value (“Common Stock”) during the period commencing one year and expiring five years from
    the effective date of the registration statement on Form SB-2 (No. 333-115424) (“Registration Statement”) pursuant to which the Company has registered the shares of Common Stock (“Effective Date”). If the Expiration Date is a day
    on which banking institutions are authorized by law to close, then this Purchase Option may be exercised on the next succeeding day which is not such a day in accordance with the terms herein. During the period ending on the Expiration Date, the
    Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $6.25 per share of Common Stock purchased (125% of the initial public offering price per share of Common Stock); provided, however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Option, including the exercise price and the number of
    shares of Common Stock to be received upon such exercise, shall be adjusted as therein specified. The term “Exercise Price” shall mean the initial exercise price or the adjusted exercise price, depending on the context.

2. Exercise. 

     2.1 	Exercise Form. In order to exercise this Purchase Option, the exercise form attached hereto must be duly executed and completed and
delivered to the Company, together with this Purchase Option and payment of the Exercise Price in cash or by certified check or official bank check for the shares of Common Stock being purchased. If the subscription rights represented hereby shall
not be exercised at or before 5:00 p.m., Eastern time, on the Expiration Date, this Purchase Option shall become and be void without further force or effect, and all rights represented hereby shall cease and expire. 

     2.2 	Legend. Each certificate for shares of Common Stock purchased under this Purchase Option shall bear a legend as follows unless such
shares of Common Stock have been registered under the Securities Act of 1933, as amended: 

  
    “The shares of Common Stock represented by this certificate have not been registered under the Securities Act of 1933, as amended (“Act”) or applicable state law. The shares may not be offered for sale, sold or
    otherwise transferred except pursuant to an effective registration statement under the Act, or pursuant to an exemption from registration under the Act and applicable state law.” 
  

     
2.3 	Conversion Right. 

          2.3.1 Determination of Amount. In lieu of the payment of the Exercise Price in the manner required by Section 2.1, the Holder shall have the
right (but not the obligation) to convert any exercisable but unexercised portion of this Purchase Option into shares of Common Stock (“Conversion Right”) as follows. Upon exercise of the Conversion Right, the Company shall deliver to the
Holder (without payment by the Holder of any of the Exercise Price in cash) that number of shares of Common Stock equal to the quotient obtained by dividing (x) the “Value” (as defined below), at the close of trading on the next to last
trading day immediately preceding the exercise of the Conversion Right, of the portion of the Purchase Option being converted by (y) the “Market Price” (as defined below). The “Value” of the portion of the Purchase Option being
converted shall equal the remainder derived from subtracting (a) the Exercise Price multiplied by the number of shares of Common Stock underlying that portion of the Purchase Option being converted from (b) the Market Price of the Common Stock
multiplied by the number of shares of Common Stock underlying that portion of the Purchase Option being converted. As used in this herein, the term “Market Price” at any date shall be deemed to be the last reported sale price of the Common
Stock on such date, or, in case no such reported sale takes place on such day, the last reported sale price for the immediately preceding trading day, in either case as officially reported by the principal securities exchange on which the Common
Stock is listed or admitted to trading, or, if the Common Stock is not listed or admitted to trading on any national securities exchange or if any such exchange on which the Common Stock is listed is not its principal trading market, the last
reported sale price as furnished by the NASD through the Nasdaq National Market or SmallCap Market, or, if applicable, the OTC Bulletin 

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Board, or if the Common Stock is not listed or admitted to trading on any of the foregoing markets, or similar organization, as determined in good faith by resolution of the Board of Directors of the Company, based on the best
information available to it. 

               2.3.2 Mechanics of Conversion. The Conversion Right may be exercised by the Holder on any business day on or after the Commencement Date and
not later than the Expiration Date by delivering the Purchase Option with a duly executed exercise form attached hereto with the Conversion Right section completed to the Company, exercising the Conversion Right and specifying the total number of
shares of Common Stock that the Holder will purchase pursuant to such Conversion Right. 

3. Transfer. 

     3.1 	General Restrictions. The registered Holder of this Purchase Option, by its acceptance hereof, agrees that it will not sell, transfer or
assign or hypothecate this Purchase Option prior to the Commencement Date to anyone other than (i) an officer or partner of such Holder, (ii) an officer of either Maxim Group LLC or EarlyBirdCapital, Inc., the underwriters of the public offering
with respect to which this Purchase Option has been issued (“Underwriters”) or an officer or partner of any selected dealer in connection with the Company’s public offering with respect to which this Purchase Option has been issued,
or (iii) any selected dealer. On and after the Commencement Date, transfers to others may be made subject to compliance with or exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver to the
Company the assignment form attached hereto duly executed and completed, together with the Purchase Option and payment of all transfer taxes, if any, payable in connection therewith. The Company shall immediately transfer this Purchase Option on the
books of the Company and shall execute and deliver a new Purchase Option or Purchase Options of like tenor to the appropriate assignee(s) expressly evidencing the right to purchase the aggregate number of shares of Common Stock purchasable hereunder
or such portion of such number as shall be contemplated by any such assignment. 

     3.2 	Restrictions Imposed by the Act. This Purchase Option and the shares of Common Stock underlying this Purchase Option shall not be
transferred unless and until (i) the Company has received the opinion of counsel for the Holder that this Purchase Option or the shares of Common Stock, as the case may be, may be transferred pursuant to an exemption from registration under the Act
and applicable state law, the availability of which is established to the reasonable satisfaction of the Company (the Company hereby agreeing that an opinion of Graubard Miller shall be deemed satisfactory evidence of the availability of an
exemption), or (ii) a registration statement relating to such Purchase Option or shares of Common Stock, as the case may be, has been filed by the Company and declared effective by the Securities and Exchange Commission and compliance with
applicable state law. 

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4. New Purchase Options to be Issued. 

     4.1 	Partial Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Option may be exercised or assigned in
whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Option for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price
and/or transfer tax, the Company shall cause to be delivered to the Holder without charge a new Purchase Option of like tenor to this Purchase Option in the name of the Holder evidencing the right of the Holder to purchase the aggregate number of
shares of Common Stock purchasable hereunder as to which this Purchase Option has not been exercised or assigned. 

     4.2 	Lost Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this
Purchase Option and of reasonably satisfactory indemnification, the Company shall execute and deliver a new Purchase Option of like tenor and date. Any such new Purchase Option executed and delivered as a result of such loss, theft, mutilation or
destruction shall constitute a substitute contractual obligation on the part of the Company. 

5. Registration Rights. 

     5.1 	Demand Registration. 

          5.1.1 Grant of Right. The Company, upon written demand (“Initial Demand Notice”) of the Holder(s) of at least 51% of the Purchase
Options and/or the underlying shares of Common Stock (“Majority Holders”), agrees to register on one occasion, all or any portion of the Purchase Options requested by the Majority Holders in the Initial Demand Notice and all of the shares
of Common Stock underlying such Purchase Options (collectively the “Registrable Securities”). On such occasion, the Company will file a registration statement covering the Registrable Securities within sixty (60) days after receipt of the
Initial Demand Notice and use its best efforts to have the registration statement declared effective promptly thereafter. If the Company fails to comply with the provisions of this Section 5.1.1, the Company shall, in addition to any other equitable
or other relief available to the Holder(s), be liable for any and all incidental, special and consequential damages sustained by the Holder(s). The demand for registration may be made at any time during a period of four years beginning one year from
the Effective Date. The Company covenants and agrees to give written notice of its receipt of any Initial Demand Notice by any Holder(s) to all other registered Holders of the Purchase Options and/or the Registrable Securities within ten days from
the date of the receipt of any such Initial Demand Notice. 

          5.1.2 Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, but the Holders shall pay any
and all underwriting commissions and the expenses of any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities. The Company agrees to use its reasonable best efforts to cause the filing
required herein to become effective promptly and to qualify or 

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register the Registrable Securities in such States as are reasonably requested by the Holder(s); provided, however, that in no event shall the Company be required to register the Registrable Securities in a State in which such
registration would cause (i) the Company to be obligated to register or license to do business in such State or submit to general service of process in such State, or (ii) the principal stockholders of the Company to be obligated to escrow their
shares of capital stock of the Company. The Company shall cause any registration statement filed pursuant to the demand right granted under Section 5.1.1 to remain effective for a period of at least twelve consecutive months from the date that the
Holders of the Registrable Securities covered by such registration statement are first given the opportunity to sell all of such securities. 

     
5.2 	“Piggy-Back” Registration. 

     
     5.2.1 Grant of Right. In addition to the demand right of registration, the Holders of the Purchase Options shall have the right for a period
of six (6) years commencing one year from the Effective Date, to include the Registrable Securities as part of any other registration of securities filed by the Company (other than in connection with a transaction contemplated by Rule 145(a)
promulgated under the Act or pursuant to Form S-8 or any equivalent form); provided, however, that if, in the written determination of the Company’s managing underwriter or underwriters, if any, for such offering, the inclusion of the
Registrable Securities, when added to the securities being registered by the Company or the selling stockholder(s), will exceed the maximum amount of the Company’s securities which can be marketed (i) at a price reasonably related to their then
current market value, or (ii) without materially and adversely affecting the entire offering, the Company shall nevertheless register all or any portion of the Registrable Securities required to be so registered but such Registrable Securities shall
not be sold by the Holders until 90 days after the registration statement for such offering has become effective and provided further that, if any securities are registered for sale on behalf of other stockholders in such offering and such
stockholders have not agreed to defer such sale until the expiration of such 90 day period, the number of securities to be sold by all stockholders in such public offering during such 90 day period shall be apportioned pro rata among all such selling stockholders, including all holders of the Registrable Securities, according to the total amount of securities of
the Company owned by said selling stockholders, including all holders of the Registrable Securities. 

     
     5.2.2 Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, but the Holders shall pay any
and all underwriting commissions and the expenses of any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities. In the event of such a proposed registration, the Company shall furnish the
then Holders of outstanding Registrable Securities with not less than thirty (30) days written notice prior to the proposed date of filing of such registration statement. Such notice to the Holders shall continue to be given for each registration
statement filed by the Company until such time as all of the Registrable Securities have been sold by the Holder. The holders of the Registrable Securities shall exercise the “piggy-back” rights provided for herein by giving written
notice, within twenty (20) days of the receipt of the Company’s notice of its intention to file a registration statement. The Company shall cause any 

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registration statement filed pursuant to the above “piggyback” rights to remain effective for at least twelve months from the date that the Holders of the Registrable Securities are first given the opportunity to sell
all of such securities. 

     
5.3 	General Terms.

          5.3.1 Indemnification. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration
statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Act or Section 20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss, claim, damage,
expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which any of them may become subject under the Act, the Exchange Act
or otherwise, arising from such registration statement but only to the same extent and with the same effect as the provisions pursuant to which the Company has agreed to indemnify the Underwriters contained in Section 5 of the Underwriting Agreement
between the Underwriters and the Company, dated the Effective Date. The Holder(s) of the Registrable Securities to be sold pursuant to such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify the
Company, against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they may become
subject under the Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their successors or assigns, in writing, for specific inclusion in such registration statement to the same extent and with
the same effect as the provisions contained in Section 5 of the Underwriting Agreement pursuant to which the Underwriters have agreed to indemnify the Company. 

          5.3.2 Exercise of Purchase Options. Nothing contained in this Purchase Option shall be construed as requiring the Holder(s) to exercise their
Purchase Options prior to or after the initial filing of any registration statement or the effectiveness thereof. 

          5.3.3 Documents Delivered to Holders. The Company shall furnish to each Holder participating in any of the foregoing offerings and to each
underwriter of any such offering, if any, a signed counterpart, addressed to such Holder or underwriter, of (i) an opinion of counsel to the Company, dated the effective date of such registration statement (and, if such registration includes an
underwritten public offering, an opinion dated the date of the closing under any underwriting agreement related thereto), and (ii) a “cold comfort” letter dated the effective date of such registration statement (and, if such registration
includes an underwritten public offering, a letter dated the date of the closing under the underwriting agreement) signed by the independent public accountants who have issued a report on the Company’s financial statements included in such
registration statement, in each case covering substantially the same matters with respect to such registration statement (and the prospectus included therein) and, in the case of such accountants’ letter, with respect to events subsequent to
the date of such financial statements, as are customarily covered in opinions of issuer’s counsel and in 

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accountants’ letters delivered to underwriters in underwritten public offerings of securities. The Company shall also deliver promptly to each Holder participating in the offering requesting the correspondence and memoranda
described below and to the managing underwriter copies of all correspondence between the Commission and the Company, its counsel or auditors and all memoranda relating to discussions with the Commission or its staff with respect to the registration
statement and permit each Holder and underwriter to do such investigation, upon reasonable advance notice, with respect to information contained in or omitted from the registration statement as it deems reasonably necessary to comply with applicable
securities laws or rules of the National Association of Securities Dealers, Inc. (“NASD”). Such investigation shall include access to books, records and properties and opportunities to discuss the business of the Company with its officers
and independent auditors, all to such reasonable extent and at such reasonable times as any such Holder shall reasonably request. 

          5.3.4 Underwriting Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s) selected by any Holders
whose Registrable Securities are being registered pursuant to this Section 5, which managing underwriter shall be reasonably satisfactory to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company, each
Holder and such managing underwriters, and shall contain such representations, warranties and covenants by the Company and such other terms as are customarily contained in agreements of that type used by the managing underwriter. The Holders shall
be parties to any underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their option, require that any or all the representations, warranties and covenants of the Company to or for the benefit of such
underwriters shall also be made to and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties to or agreements with the Company or the underwriters except as they may relate to such Holders,
their shares and their intended methods of distribution. 

          5.3.5 Documents to be Delivered by Holder(s). Each of the Holder(s) participating in any of the foregoing offerings shall furnish to the
Company a completed and executed questionnaire provided by the Company requesting information customarily sought of selling securityholders. 

6. Adjustments. 

     6.1 	Adjustments to Exercise Price and Number of Securities. The Exercise Price and the number of shares of Common Stock underlying the
Purchase Option shall be subject to adjustment from time to time as hereinafter set forth: 

          6.1.1 Stock Dividends - Recapitalization, Reclassification, Split-Ups. If after the date hereof, and subject to the provisions of Section 6.2
below, the number of outstanding shares of Common Stock is increased by a stock dividend payable in shares of Common Stock or by a split-up, recapitalization or reclassification of shares of Common Stock or other similar event, then, on the
effective date thereof, the number of shares of Common Stock issuable on 

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exercise of the Purchase Option shall be increased in proportion to such increase in outstanding shares of Common Stock. 

          6.1.2 Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 6.2, the number of outstanding shares of
Common Stock is decreased by a consolidation, combination or reclassification of shares of Common Stock or other similar event, then, upon the effective date thereof, the number of shares of Common Stock issuable on exercise of the Purchase Option
shall be decreased in proportion to such decrease in outstanding shares. 

          6.1.3 Adjustments in Exercise Price. Whenever the number of shares of Common Stock purchasable upon the exercise of this Purchase Option is
adjusted, as provided in this Section 6.1, the Exercise Price shall be adjusted (to the nearest cent) by multiplying such Exercise Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of
Common Stock purchasable upon the exercise of this Purchase Option immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so purchasable immediately thereafter.

          6.1.4 Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of
Common Stock other than a change covered by Section 6.1.1 hereof or which solely affects the par value of such shares of Common Stock, or in the case of any merger or consolidation of the Company with or into another corporation (other than a
consolidation or merger in which the Company is the continuing corporation and which does not result in any reclassification or reorganization of the outstanding shares of Common Stock), or in the case of any sale or conveyance to another
corporation or entity of the property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Option shall have the right thereafter (until the expiration of the
right of exercise of this Purchase Option) to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event, the kind and amount of shares of stock or other securities or property
(including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or other transfer, by a Holder of the number of shares of Common Stock of the Company obtainable upon
exercise of this Purchase Option immediately prior to such event; and if any reclassification also results in a change in shares of Common Stock covered by Section 6.1.1, then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.3 and this
Section 6.1.4. The provisions of this Section 6.1.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. 

          6.1.5 Changes in Form of Purchase Option. This form of Purchase Option need not be changed because of any change pursuant to this Section,
and Purchase Options issued after such change may state the same Exercise Price and the same number of shares of Common Stock as are stated in the Purchase Options initially issued pursuant to this Agreement. The acceptance by any Holder of the
issuance of new Purchase Options reflecting a required or 

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permissive change shall not be deemed to waive any rights to a prior adjustment or the computation thereof. 

     6.2 	Elimination of Fractional Interests. The Company shall not be required to issue certificates representing fractions of shares of Common
Stock upon the exercise or transfer of the Purchase Option, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any
fraction up or down to the nearest whole number of shares of Common Stock. 

7. 	Reservation and Listing. The Company shall at all times reserve and keep available out of its authorized shares of Common Stock, solely for the purpose of issuance
upon exercise of the Purchase Options, such number of shares of Common Stock or other securities, properties or rights as shall be issuable upon the exercise thereof. The Company covenants and agrees that, upon exercise of the Purchase Options and
payment of the Exercise Price therefor, all shares of Common Stock and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive rights of any stockholder. As long as
the Purchase Options shall be outstanding, the Company shall use its best efforts to cause all shares of Common Stock issuable upon exercise of the Purchase Options to be listed (subject to official notice of issuance) on all securities exchanges
(or, if applicable on Nasdaq) on which the Common Stock issued to the public in connection herewith are then listed and/or quoted. 

8. Certain Notice Requirements. 

     8.1 	Holder’s Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent or
to receive notice as a stockholder for the election of directors or any other matter, or as having any rights whatsoever as a stockholder of the Company. If, however, at any time prior to the expiration of the Purchase Options and their exercise,
any of the events described in Section 8.2 shall occur, then, in one or more of said events, the Company shall give written notice of such event at least fifteen (15) days prior to the date fixed as a record date or the date of closing the transfer
books for the determination of the stockholders entitled to such dividend, distribution, conversion or exchange of securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up or sale. Such notice
shall specify such record date or the date of the closing of the transfer books, as the case may be.

     8.2 	Events Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of the following
events: (i) if the Company shall take a record of the holders of its shares of Common Stock for the purpose of entitling them to receive a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise
than out of retained earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, or (ii) the Company shall offer to all the holders of its Common Stock any additional shares of capital stock of
the Company or securities convertible into or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation 

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or winding up of the Company (other than in connection with a consolidation or merger) or a sale of all or substantially all of its property, assets and business shall be proposed. 

     8.3 	Notice of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to
Section 6 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price Notice shall describe the event causing the change and the method of calculating same and shall be certified as being true and accurate by
the Company’s President and Chief Financial Officer. 

     8.4 	Transmittal of Notices. All notices, requests, consents and other communications under this Purchase Option shall be in writing and
shall be deemed to have been duly made on the date of delivery if delivered personally or sent by overnight courier, with acknowledgement of receipt to the party to which notice is given, or on the fifth day after mailing if mailed to the party to
whom notice is to be given, by registered or certified mail, return receipt requested, postage prepaid and properly addressed as follows: (i) if to the registered Holder of the Purchase Option, to the address of such Holder as shown on the books of
the Company, or (ii) if to the Company, to its principal executive office. 

9. Miscellaneous. 

     9.1 	Amendments. The Company and the Underwriters may from time to time supplement or amend this Purchase Option without the approval of any
of the Holders in order to cure any ambiguity, to correct or supplement any provision contained herein which may be defective or inconsistent with any other provisions herein, or to make any other provisions in regard to matters or questions arising
hereunder which the Company and the Underwriters may deem necessary or desirable and which the Company and the Underwriters deem shall not adversely affect the interest of the Holders. All other modifications or amendments shall require the written
consent of the party against whom enforcement of the modification or amendment is sought. 

     9.2 	Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect
the meaning or interpretation of any of the terms or provisions of this Purchase Option. 

     9.3 	Entire Agreement. This Purchase Option (together with the other agreements and documents being delivered pursuant to or in connection
with this Purchase Option) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter
hereof. 

     9.4 	Binding Effect. This Purchase Option shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and
their respective successors, legal representatives and assigns, and no other person shall have or be construed to have any legal or 

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equitable right, remedy or claim under or in respect of or by virtue of this Purchase Option or any provisions herein contained. 

     9.5 	Governing Law; Submission to Jurisdiction. This Purchase Option shall be governed by and construed and enforced in accordance with the
laws of the State of New York, without giving effect to conflict of laws. The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Option shall be brought and enforced in the
courts of the State of New York or of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid,
addressed to Greenberg Traurig, LLP, 200 Park Avenue, 15th Floor, New York, New York 10166, Attention: Robert H. Cohen, Esq. Such mailing shall be deemed personal service and shall be
legal and binding upon the Company in any action, proceeding or claim. The Company and the Holder, by acceptance hereof, agree that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its
reasonable attorneys’ fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor. 

     9.6 	Waiver, Etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Option shall not be
deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Option or any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase
Option. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Option shall be effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of
such waiver is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach, non-compliance or non-fulfillment. 

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     IN WITNESS WHEREOF, the Company has caused this Purchase Option to be signed by its duly authorized officer as of the ____________
day of
_________________
, 2004. 

 

	 	GURUNET CORPORATION  

       By:
        __________________________________

       Robert Rosenschein 

       Chairman and Chief Executive Officer 

	 	 

 

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Form to be used to exercise Purchase Option: 

GuruNet Corporation 

Date:
_________________, 200__ 

     The undersigned hereby elects irrevocably to exercise the within Purchase Option and to purchase ____ shares of Common Stock of GuruNet Corporation and hereby makes payment of $____________
(at the rate of $_________
per share of Common Stock) in payment of the Exercise Price pursuant thereto. Please issue the Common Stock as to which this Purchase Option is exercised in accordance with the instructions given below. 

or 

     The undersigned hereby elects irrevocably to exercise the within Purchase Option and to purchase _________
shares of Common Stock of GuruNet Corporation by surrender of the unexercised portion
of the within Purchase Option (with a “Value” of $_______
based on a “Market Price” of $__________. Please issue the Common Stock as to which this Purchase Option is exercised in accordance with the instructions
given below. 

 

	 	______________________________

Signature 

 

     NOTICE: The signature to this form must correspond with the name as written upon the face of the within Purchase Option in every particular without alteration or enlargement or any change
whatsoever. 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES 

Name  	________________________________________________________

                                           (Print in Block Letters) 

Address_______________________________________________________
 

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Form to be used to assign Purchase Option: 

ASSIGNMENT 

     (To be executed by the registered Holder to effect a transfer of the within Purchase Option): 

     FOR VALUE RECEIVED, __________________________________
does hereby sell, assign and transfer unto
_______________________
the right to purchase
_______________________
shares of
Common Stock of GuruNet Corporation (“Company”) evidenced by the within Purchase Option and does hereby authorize the Company to transfer such right on the books of the Company. 

Dated:
___________________, 200_ 

 

	 	_________________________________

Signature 

 

______________________________
 Signature Guaranteed 

     NOTICE: The signature to this form must correspond with the name as written upon the face of the within Purchase Option in every particular without alteration or enlargement or any change
whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national securities exchange. 

14JPMorgan ex00

EXHIBIT 4.1

  FIXED RATE NOTE

	REGISTERED	U.S.$4,056,000
	No. FXR 2 	CUSIP: 46625HBU3 

       Unless this certificate is presented by an authorized representative of The Depository Trust Company (55 Water Street, New York, New York) to the issuer or its agent for registration of transfer,
exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depository Trust Company and any payment is made to Cede & Co., ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein. 

       JPMORGAN CHASE & CO. 

MEDIUM TERM NOTE, SERIES E 

(Fixed Rate) 

	ORIGINAL ISSUE

    DATE: September 20, 2004	INITIAL

    REDEMPTION 

    DATE: N.A.	INTEREST RATE: 

    N.A.	MATURITY DATE:

    September 21, 2009
	INTEREST ACCRUAL DATE: N.A.	INITIAL 

    REDEMPTION PERCENTAGE: N.A.	INTEREST 

    PAYMENT DATE(S): N.A.	OPTIONAL

    REPAYMENT DATE(S): N.A.
	SPECIFIED

    CURRENCY: $USD	ANNUAL 

     REDEMPTION

    PERCENTAGE

   REDUCTION: N.A.	INTEREST 

    PAYMENT PERIOD: N.A.	APPLICABILITY

     OF MODIFIED

PAYMENT UPON

ACCELERATION: N.A.
	IF SPECIFIED

     CURRENCY

OTHER THAN U.S.

DOLLARS, OPTION

TO ELECT

PAYMENT IN U.S.

DOLLARS: N.A.	REDEMPTION

    NOTICE PERIOD: N.A.	APPLICABILITY

    OF ANNUAL

    INTEREST

PAYMENTS: N.A.	If yes, state Issue

    Price: N.A.
	EXCHANGE RATE

    AGENT: N.A.	 	 	ORIGINAL YIELD

    TO MATURITY: N.A.
	OTHER

    PROVISIONS:

    See Below	 	 	 

  Payment at Maturity

    This security pays no interest. This security will mature on September 21, 2009 (the “Maturity Date”). 

       On the Maturity Date the Issuer shall pay a cash payment based on the performance of the S&P 500® Index (the “Index”) per $1,000 principal amount of securities equal to the greater of: (i) $1,100, (the “Minimum Payment Amount”) and (ii)
$1,000 plus an amount in cash equal to the Additional Amount (as defined below). 

       The “Additional Amount” will be calculated by the calculation agent by multiplying $1,000 by the sum of the Quarterly Capped Index
Returns for each of the 20 Quarterly Valuation Periods during the term of the securities. 

       The “Quarterly Capped Index Return” for any Quarterly Valuation Period, as calculated by the calculation agent on the relevant
Period Valuation Date, is equal to the Index 

2 

  Closing Level at the end of the Quarterly Valuation Period less the Index Closing Level at the beginning of that Quarterly Valuation Period divided by the Index Closing Level at the beginning of that Quarterly Valuation Period;
  provided, however, that in no event will the Quarterly Capped Index Return for any Quarterly Valuation Period exceed .06 (or 6%).
  

       Each “Quarterly Valuation Period” is the period from and including a Period Valuation Date to and including the immediately
subsequent Period Valuation Date; except that the first Quarterly Valuation Period begins on September 14, 2004.

       The “Period Valuation Dates” are the 14th of each December, March, June and September, beginning December 2004 through September
2009 and the final Period Valuation Date is September 14, 2009, in each such case subject to adjustment if such date is not a Trading Day or if a Market Disruption Event occurs on such date as described in the two following paragraphs. 

       If any scheduled Period Valuation Date occurring from and including December 2004 to and including June 2009 is not a Trading Day or if a Market Disruption Event occurs on any such date, such Period
Valuation Date will be the immediately succeeding Trading Day during which no Market Disruption Event shall have occurred; provided that if a Market Disruption Event occurs on any of the
scheduled Period Valuation Dates occurring from and including December 2004 to and including June 2009 and on each of the five Trading Days immediately succeeding that scheduled Period Valuation Date, then (i) such fifth Trading Day will be deemed
to be the relevant Period Valuation Date, notwithstanding the occurrence of a Market Disruption Event on such day and (ii) with respect to any such fifth Trading Day on which a Market Disruption Event occurs, the calculation agent will determine the
Index Closing Level on such fifth Trading Day in accordance with the formula for and method of calculating the Index Closing Level last in effect prior to the commencement of the Market Disruption Event, using the closing price (or, if trading in
the relevant securities has been materially suspended or materially limited, its good faith estimate of the closing price that would have prevailed but for such suspension or limitation) on such Trading Day of each security most recently comprising
the Index. 

       If September 14, 2009 (the final Period Valuation Date) is not a Trading Day or if there is a Market Disruption Event on such day, the final Period Valuation Date will be the immediately succeeding
Trading Day during which no Market Disruption Event shall have occurred; provided that the Index Closing Level will not be determined on a date later than the second scheduled Trading Day
prior to maturity, and if such day is not a Trading Day, or if there is a Market Disruption Event on such date, the calculation agent will determine the Index Closing Level on such date in accordance with the formula for and method of calculating
the Index Closing Level last in effect prior to commencement of the Market Disruption Event (or prior to the non-Trading Day), using the closing price (or, if trading in the relevant securities has been materially suspended or materially limited,
its good faith estimate of the closing price that would have prevailed but for such suspension or limitation or non-Trading Day) on such date of each security most recently constituting the Index. 

       The “Index Closing Level” on any Trading Day will equal the closing level of the Index or any Successor Index (as defined below) or
alternative calculation of the Index described 

3 

  below under “Discontinuation of the S&P 500 Index: Alteration of Method of Calculation” at the regular official weekday close of the principal trading session of the New York Stock Exchange, Inc. (the “NYSE”), the American Stock Exchange LLC (the “AMEX”), the Nasdaq National Market or the Relevant Exchange or
market for the Successor Index. 

       A “Trading Day” is a day, as determined by the calculation agent, on which trading is generally conducted on the NYSE, the AMEX,
the Nasdaq National Market, the Chicago Mercantile Exchange and the Chicago Board Options Exchange and in the over-the-counter market for equity securities in the United States. 

       The Issuer will irrevocably deposit with DTC no later than the close of business on the Maturity Date funds sufficient to make payments of the amount payable at maturity with respect to the Notes on
such date. The Issuer will give DTC irrevocable instructions and authority to pay such amount to the Holders of the Notes entitled thereto. In the event that the Maturity Date is not a Business Day, then payments payable on such date will be made on
the next succeeding Business Day with the same force and effect as if made on such date, except that, if such Business Day falls in the next calendar year such payment will be made on the immediately preceding Business Day. A “Business Day” is any day other than a day on which banking institutions in The City of New York are authorized or required by law or regulation to close or a day on which transactions in dollars are
not conducted. 

  Calculation Agent 

       J.P. Morgan Securities Inc. will act as the calculation agent. The calculation agent will determine the Index Closing Level on each Period Valuation Date, each Quarterly Capped Index Return and the
Additional Amount of cash, if any, the Issuer will pay Holders at maturity of the Notes. In addition, the calculation agent will determine whether there has been a Market Disruption Event or a discontinuance of the Index and whether there has been a
material change in the method of calculating the Index. All determinations made by the calculation agent will be at the sole discretion of the calculation agent and will, in the absence of manifest error, be conclusive for all purposes and binding
on Holders and on the Issuer. The Issuer may appoint a different calculation agent from time to time after the date of this prospectus supplement without the Holders’ consent and without notifying Holders. 

       The calculation agent will calculate the Additional Amount on the final Period Valuation Date. The calculation agent will provide written notice to the Trustee at its New York office, on which notice
the Trustee may conclusively rely, of the Additional Amount on or prior to 11:00 a.m. on the Business Day preceding the Maturity Date. 

       All calculations with respect to the Quarterly Capped Index Return or the Index Closing Level will be rounded to the nearest one hundred-thousandth, with five one-millionths rounded upward (e.g.,
..876545 would be rounded to .87655); all dollar amounts related to determination of the Additional Amount payable per Note will be rounded to the nearest ten-thousandth, with five one hundred-thousandths rounded upward (e.g., .76545 would be rounded
up to .7655); and all dollar amounts paid on the aggregate number of notes will be rounded to the nearest cent, with one-half cent rounded upward. 

  4 

  Market Disruption Events 

  With respect to the Index, a “Market Disruption Event” means: 

       (i)         (a)     a suspension, absence or material limitation of trading of stocks then constituting 20 percent or more of the level of the Index (or the relevant Successor Index) on the Relevant Exchanges
(as defined below) for such securities for more than two hours of trading or during the one hour period preceding the close of the principal trading session on such Relevant Exchange; or

             (b)  a breakdown or failure in the price and trade reporting systems of any Relevant Exchange as a result of which the reported trading prices for stocks then constituting 20 percent or more of the
level of the Index (or the relevant Successor Index) during the one hour period preceding the close of the principal trading session on such Relevant Exchange are materially inaccurate; or 

             (c)  the suspension, absence or material limitation of trading on any major U.S. securities market for trading in futures or options contracts related to the Index (or the relevant Successor Index)
for more than two hours of trading or during the one hour period preceding the close of the
principal trading session on such market,

           in each case as determined by the calculation agent in its sole discretion; and 

       (ii)        a determination by the calculation agent in its sole discretion that the event described above materially interfered with its ability or the ability of any of the Issuer’s affiliates to
adjust or unwind all or a material portion of any hedge with respect to the Notes. 

       For the purpose of determining whether a Market Disruption Event exists at any time, if trading in a security included in the Index is materially suspended or materially limited at that time, then the
relevant percentage contribution of that security to the level of the Index shall be based on a comparison of: 

     (i)        the portion of the level of the Index attributable to that security relative to 

     (ii)       the overall level of the Index, 

     in each case immediately before that suspension or limitation. 

     For purposes of determining whether a Market Disruption Event has occurred: 

       (i)         a limitation on the hours or number of days of trading will not constitute a Market Disruption Event if it results from an announced change in the regular business hours of the Relevant Exchange
or market; 

       (ii)        a decision to permanently discontinue trading in the relevant futures or options contract will not constitute a Market Disruption Event; 

  5 

       (iii) limitations pursuant to the rules of any Relevant Exchange similar to NYSE Rule 80A (or any applicable rule or regulation enacted or promulgated by any other self-regulatory organization or any
government agency of scope similar to NYSE Rule 80A as determined by the calculation agent) on trading during significant market fluctuations will constitute a suspension, absence or material limitation of trading;

       (iv) a suspension of trading in futures or options contracts on the Index by the primary securities market trading in such contracts by reason of 

          
(a)     a price change exceeding limits set by such exchange or market,

          
(b)     an imbalance of orders relating to such contracts, or 

          
(c)  a disparity in bid and ask quotes relating to such contracts

          will, in each such case, constitute a suspension, absence or material limitation of trading in futures or options contracts related to the Index; and 

       (v)         a “suspension, absence or material limitation of trading” on any Relevant Exchange or on the primary market on which futures or options contracts related to the Index are traded will
not include any time when such market is itself closed for trading under ordinary circumstances. 

       “Relevant Exchange” means the primary U.S. organized exchange or market of trading for any security (or any combination thereof)
then included in the Index or any Successor Index. 

  Discontinuance of the S&P 500 Index; Alteration of Method of Calculation 

       If Standard & Poor’s, a division of McGraw-Hill Companies, Inc. (“S&P”) discontinues publication of the Index and
S&P or another entity publishes a successor or substitute index that the calculation agent determines, in its sole discretion, to be comparable to the discontinued Index (such index being referred to herein as a “Successor Index”), then any Index Closing Level will be determined by reference to the level of such Successor Index at the close of trading on the NYSE, the AMEX, the Nasdaq National Market or the
Relevant Exchange or market for the Successor Index on the relevant Period Valuation Date. 

       Upon any selection by the calculation agent of a Successor Index, the calculation agent will cause written notice thereof to be promptly furnished to the Trustee, to the Issuer and to the Holders of
the Notes. 

       If S&P discontinues publication of the Index prior to, and such discontinuance is continuing on, any Period Valuation Date and the calculation agent determines, in its sole discretion, that no
Successor Index is available at such time, then the calculation agent will determine the Index Closing Level for such date. The Index Closing Level will be computed by the calculation agent in accordance with the formula for and method of
calculating the Index last in effect prior to such discontinuance, using the closing price (or, if trading in the relevant securities has been materially suspended or materially limited, its good faith estimate of the closing price that would have
prevailed but for such suspension or limitation) at the close of the

 6 

  principal trading session on such date of each security most recently comprising the Index. Notwithstanding these alternative arrangements, discontinuance of the publication of the Index on the Relevant Exchange may adversely
affect the value of the Notes. 

       If at any time the method of calculating the Index or a Successor Index, or the level thereof, is changed in a material respect, or if the Index or a Successor Index is in any other way modified so
that such index does not, in the opinion of the calculation agent, fairly represent the level of the Index or such Successor Index had such changes or modifications not been made, then, from and after such time, the calculation agent will, at the
close of business in New York City on each date on which the Index Closing Level is to be determined, make such calculations and adjustments as, in the good faith judgment of the calculation agent, may be necessary in order to arrive at a level of a
stock index comparable to the Index or such Successor Index, as the case may be, as if such changes or modifications had not been made, and the calculation agent will calculate the Index Closing Level with reference to the Index or such Successor
Index, as adjusted. Accordingly, if the method of calculating the Index or a Successor Index is modified so that the level of such index is a fraction of what it would have been if it had not been modified (e.g., due to a split in the index), then the calculation agent will adjust such index in order to arrive at a level of the Index or such Successor Index as if it had not been modified (e.g., as if such split had not occurred). 

  Alternate Additional Amount Calculation in Case of an Event of Default

       In case an Event of Default with respect to the Notes shall have occurred and be continuing, the amount declared due and payable for each note upon any acceleration of the Notes will be equal to the
greater of $1,100 or $1,000 plus the Additional Amount determined as though the Index Closing Level for any Period Valuation Date scheduled to occur after such date of acceleration were the Index Closing Level on the date of acceleration. Therefore,
the Quarterly Capped Index Return for the then current Quarterly Valuation Period would be equal to the Index Closing Level on the date of acceleration less the Index Closing Level at the beginning of that Quarterly Valuation Period divided by the
Index Closing Level at the beginning of such Quarterly Valuation Period, and the Quarterly Capped Index Return for each remaining Quarterly Valuation Period would be equal to zero. 

  Defeasance 

       The Notes will not be subject to the defeasance provisions contained in Article 13 of the Indenture. 

  7 

       JPMorgan Chase & Co., a Delaware corporation (together with its successors and assigns, the “Issuer”), for value received,
hereby promises to pay to CEDE & CO., or registered assignees, the principal sum of $4,056,000 (UNITED STATES DOLLARS FOUR MILLION FIFTY SIX THOUSAND) on the Maturity Date specified above.

       Payment of the principal of this Note and any premium at maturity will be made in immediately available funds upon surrender of this Note at the office or agency of the Paying Agent, as defined on the
reverse hereof, maintained for that purpose in the Borough of Manhattan, The City of New York, or at such other paying agency as the Issuer may determine, in U.S. dollars.

       Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

       Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the
Indenture, as defined on the reverse hereof, or be valid or obligatory for any purpose. 

  8 

  IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed under its corporate seal. 

  Date: September     ,
  2004 

	 	JPMORGAN CHASE & CO. 
	 	 	 	 
	 	By:	 	 
	 	 	

	 	 	Name:	  
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	Attest:	 	 
	 	 	

	 	 	Name:	  
	 	 	Title:	 
	 	 	 	 
	 	 	 	 

Attest:  Name:  Title:

  [Seal] 

  TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

  This is one of the Securities referred to in the within-mentioned Indenture. 

DEUTSCHE BANK TRUST COMPANY 

AMERICA 

(f/k/a/ Bankers Trust Company), As Trustee 

  BY: JPMORGAN CHASE BANK

As Authenticating Agent 

	 	By:	 	 
	 	 	

	 	 	Name:	  
	 	 	Title:	 
	 	 	 	 

 

  9 

  REVERSE OF SECURITY 

       This Note is one of a duly authorized issue of Medium Term Notes, Series E, having maturities more than nine months from the date of issue (the “Notes”) of the Issuer. The Notes are issuable under an Indenture, dated as of May 25, 2001, between the Issuer and Deutsche Bank Trust Company Americas (formerly Bankers Trust Company), as Trustee (the “Trustee,” which term includes any successor trustee under the Indenture) (as may be amended or supplemented from time to time, the “Indenture”), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities of the Issuer, the Trustee and holders of the Notes and
the terms upon which the Notes are, and are to be, authenticated and delivered. The Issuer has appointed JPMorgan Chase Bank at its corporate trust office in The City of New York as the paying agent (the “Paying
Agent,” which term includes any additional or successor Paying Agent appointed by the Issuer) with respect to the Notes. The terms of individual Notes may vary with respect to interest rates, interest rate
formulas, issue dates, maturity dates, or otherwise, all as provided in the Indenture.  To the extent not inconsistent herewith, the terms of the Indenture are hereby incorporated by reference herein. 

       Unless otherwise indicated on the face hereof, this Note will not be subject to any sinking fund and, unless otherwise provided on the face hereof in accordance with the provisions of the following
two paragraphs, will not be redeemable or subject to repayment at the option of the holder prior to maturity. 

       In the case where the Maturity Date does not fall on a Business Day, payment of premium, if any, or principal otherwise payable on such date need not be made on such date, but may be made on the next
succeeding Business Day with the same force and effect as if made on the Maturity Date and no interest on such payment shall accrue for the period from and after the Maturity Date to such next succeeding Business Day. 

       As used herein, “Business Day” means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which
banking institutions are authorized or required by law or regulation to close in The City of New York. 

       This Note and all the obligations of the Issuer hereunder are direct, unsecured obligations of the Issuer and rank without preference or priority among themselves and pari
passu with all other existing and future unsecured and unsubordinated indebtedness of the Issuer, subject to certain statutory exceptions in the event of liquidation upon insolvency. 

       This Note, and any Note or Notes issued upon transfer or exchange hereof, is issuable only in fully registered form, without coupons, and, if denominated in U.S. dollars, unless otherwise stated
above, is issuable only in denominations of U.S. $1,000 and any integral multiple of U.S. $1,000 in excess thereof. 

       JPMorgan Chase Bank has been appointed registrar for the Notes, and JPMorgan Chase Bank will maintain at its office in The City of New York a register for the registration and transfer of Notes. This
Note may be transferred at the aforesaid office of JPMorgan Chase Bank by surrendering this Note for cancellation, accompanied by a written instrument of transfer in form satisfactory to JPMorgan Chase Bank and duly executed by the registered holder
hereof in person or by the holder’s attorney duly authorized in writing, and thereupon JPMorgan Chase bank shall issue in the name of the transferee or transferees, in exchange herefor, a new Note or 

10 

  Notes having identical terms and provisions and having a like aggregate principal amount in authorized denominations, subject to the terms and conditions set forth herein; provided, however, that JPMorgan Chase Bank will not be required (i) to register the transfer of or exchange any Note that has been called for redemption in whole or in part, except the
unredeemed portion of Notes being redeemed in part, (ii) to register the transfer of or exchange any Note if the holder thereof has exercised his right, if any, to require the Issuer to repurchase such Note in whole or in part, except the portion of
such Note not required to be repurchased, or (iii) to register the transfer of or exchange Notes to the extent and during the period so provided in the Indenture with respect to the redemption of Notes. Notes are exchangeable at said office for
other Notes of other authorized denominations of equal aggregate principal amount having identical terms and provisions. All such exchanges and transfers of Notes will be free of charge, but the Issuer may require payment of a sum sufficient to
cover any tax or other governmental charge in connection therewith. All Notes surrendered for exchange shall be accompanied by a written instrument of transfer in form satisfactory to JPMorgan Chase Bank and executed by the registered holder in
person or by the holder’s attorney duly authorized in writing. The date of registration of any Note delivered upon any exchange or transfer of Notes shall be such that no gain or loss of interest results from such exchange or transfer. 

       In case this Note shall at any time become mutilated, defaced or be destroyed, lost or stolen and this Note or evidence of the loss, theft or destruction thereof (together with the indemnity
hereinafter referred to and such other documents or proof as may be required in the premises) shall be delivered to JPMorgan Chase Bank, the Issuer in its discretion may execute a new Note of like tenor in exchange for this Note, but, if this Note
is destroyed, lost or stolen, only upon receipt of evidence satisfactory to JPMorgan Chase Bank and the Issuer that this Note was destroyed or lost or stolen and, if required, upon receipt also of indemnity satisfactory to each of them. All expenses
and reasonable charges associated with procuring such indemnity and with the preparation, authentication and delivery of a new Note shall be borne by the owner of the Note mutilated, defaced, destroyed, lost or stolen. 

       The Indenture provides that (a) if an Event of Default (as defined in the Indenture) due to the default in payment of principal of, premium, if any, or interest on, any series of debt securities
issued under the Indenture, including the series of Medium Term Notes of which this Note forms a part, or due to the default in the performance or breach of any other covenant or warranty of the Issuer applicable to the debt securities of such
series but not applicable to all outstanding debt securities issued under the Indenture, shall have occurred and be continuing, either the Trustee or the holders of not less than 25% in principal amount of the debt securities of each affected series
(voting as a single class) may then declare the principal of all debt securities of all such series and interest accrued thereon to be due and payable immediately and (b) if an Event of Default due to a default in the performance of any other of the
covenants or agreements in the Indenture applicable to all outstanding debt securities issued thereunder, including this Note, or due to certain events of bankruptcy or insolvency of the Issuer, shall have occurred and be continuing, either the
Trustee or the holders of not less than 25% in principal amount of all debt securities issued under the Indenture then outstanding (treated as one class) may declare the principal of all such debt securities and interest accrued thereon to be due
and payable immediately, but upon certain conditions such declarations may be annulled and past defaults may be waived (except a continuing default in payment of principal (or premium, if any) or

  11 

  interest on such debt securities) by the holders of a majority in principal amount of the debt securities of all affected series then outstanding. 

       The Indenture permits the Issuer and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the debt securities of all series issued under the
Indenture then outstanding and affected (voting as one class), to execute supplemental indentures adding any provisions to or changing in any manner the rights of the holders of each series so affected; provided that the Issuer and the Trustee may not, without the consent of the holder of each outstanding debt security affected thereby, (a) extend the final maturity of any such debt security, or reduce the
principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or other amounts due thereunder, or change the method in which amounts of payment of principal, interest or other amounts due thereon are determined, or
reduce any amount payable on redemption or repayment thereof, or change the currency of payment thereof, or modify or amend the provisions for conversion of any currency into any other currency, or modify or amend the provisions for conversion or
exchange of the debt security for securities of the Issuer or other entities (other than as provided in the antidilution provisions or other similar adjustment provisions of the debt securities or otherwise in accordance with the terms thereof), or
impair or affect the rights of any holder to institute suit for the payment thereof without the consent of the holder of each debt security so affected or (b) reduce the aforesaid percentage in principal amount of debt securities the consent of the
holders of which is required for any such supplemental indenture. 

       So long as this Note shall be outstanding, the Issuer will cause to be maintained an office or agency for the payment of the principal of and premium, if any, and interest on this Note as herein
provided in the Borough of Manhattan, The City of New York, and an office or agency in said Borough of Manhattan for the registration, transfer and exchange as aforesaid of the Notes. The Issuer may designate other agencies for the payment of said
principal, premium and interest at such place or places (subject to applicable laws and regulations) as the Issuer may decide. So long as there shall be such an agency, the Issuer shall keep the Trustee advised of the names and locations of such
agencies, if any are so designated. 

       With respect to moneys paid by the Issuer and held by the Trustee or any Paying Agent for payment of the principal of or interest or premium, if any, on any Notes that remain unclaimed at the end of
two years after such principal, interest or premium shall have become due and payable (whether at maturity or upon call for redemption or otherwise), (i) the Trustee or such Paying Agent shall notify the holders of such Notes that such moneys shall
be repaid to the Issuer and any person claiming such moneys shall thereafter look only to the Issuer for payment thereof and (ii) such moneys shall be so repaid to the Issuer. Upon such repayment all liability of the Trustee or such Paying Agent
with respect to such moneys shall thereupon cease, without, however, limiting in any way any obligation that the Issuer may have to pay the principal of or interest or premium, if any, on this Note as the same shall become due. 

       No provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this
Note at the time, place, and rate, and in the coin or currency, herein prescribed unless otherwise agreed between the Issuer and the registered holder of this Note. 

       Prior to due presentment of this Note for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the holder in whose name this Note is 

12 

  registered as the owner hereof for all purposes, whether or not this Note be overdue, and none of the Issuer, the Trustee or any such agent shall be affected by notice to the contrary. 

       No recourse shall be had for the payment of the principal of, premium, if any, or the interest on this Note, for any claim based hereon, or otherwise in respect hereof, or based on or in respect of
the Indenture or any indenture supplemental thereto, against any incorporator, shareholder, officer or director, as such, past, present or future, of the Issuer or of any successor corporation, either directly or through the Issuer or any successor
corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof,
expressly waived and released. 

       This Note shall for all purposes be governed by, and construed in accordance with, the laws of the State of New York. 

       All terms used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

  13 

  ABBREVIATIONS 

       The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations: 

	 	TEN COM	–	as tenants in common
	 	TEN ENT	–	as tenants by the entireties
	 	JT TEN	–	as joint tenants with right of survivorship and not as tenants in common
	 	 	 	 	 	 	 
	      UNIF GIFT MIN ACT 	–	 	Custodian	 	 
	 	 	 	
    	 	
    	 
	 	 	 	(Minor)	 	(Cust)	 

	Under Uniform Gifts to Minors Act
    	 	 
	 	
    	 
	 	(State) 	 

 

  Additional abbreviations may also be used though not in the above list.

  14 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

	
     	 	 
	[PLEASE INSERT SOCIAL SECURITY OR OTHER

      IDENTIFYING NUMBER OF ASSIGNEE] 	 	 
	 	 	 
	 	 	 
	
      
	
     
	
     
	[PLEASE PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE] 
	 	 	 

  the within Note and all rights thereunder, hereby irrevocably constituting and appointing such person attorney to transfer such note on the books of the Issuer, with full power of substitution in the premises. 

Dated: _______________________________________

 

  NOTICE:   The signature to this assignment must correspond with the name as written upon the face of the within Note in every particular without alteration or enlargement or any change whatsoever. 

  

  

  15

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