Document:

WELLS FARGO & COMPANY 8-K

 

Exhibit 4.1

 

 

[Face
of Note]

 

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

	CUSIP
NO. 95001H3V1	FACE AMOUNT: $_________

REGISTERED
NO. ___

 

 

WELLS
FARGO FINANCE LLC

 

MEDIUM-TERM
NOTE, SERIES A

Fully
and Unconditionally Guaranteed by Wells Fargo & Company

 

Principal
at Risk Securities Linked to the Lowest Performing of the Russell 2000® Index, the S&P 500®
Index and the EURO STOXX 50® Index due March 23, 2029

 

WELLS
FARGO FINANCE LLC, a limited liability company duly organized and existing under the laws of the State of Delaware (hereinafter
called the “Company,” which term includes any successor corporation under and as defined in the Indenture hereinafter
referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, an amount equal to the
Maturity Payment Amount (as defined below) on the Stated Maturity Date (as defined below), unless this Security is redeemed prior
to the Stated Maturity Date as provided below under “Optional Redemption,” and to pay Contingent Coupon Payments (as
defined below) on the Face Amount of this Security to the extent provided herein on the Contingent Coupon Payment Dates specified
herein at the Contingent Coupon Rate (as defined below) until the earlier of the Stated Maturity Date and the Optional Redemption
Date (as defined below), if any. The “Initial Stated Maturity Date” shall be March 23, 2029. If the Final Calculation
Day (as defined below) is not postponed, the Initial Stated Maturity Date will be the “Stated Maturity Date.”
If the Final Calculation Day is postponed, the “Stated Maturity Date” shall be the later of (i) the Initial
Stated Maturity Date and (ii) three Business Days (as defined below) after the last Final Calculation Day as postponed.

“Face
Amount” shall mean, when used with respect to this Security, the amount set forth on the face of this Security as its
“Face Amount.”

Optional
Redemption

The
Company may, at its option, redeem this Security, in whole but not in part, on any Optional Redemption Date (as defined below)
by giving notice to the Holder hereof on or before the Calculation Day (as defined below) immediately preceding that Optional
Redemption Date. If this

    	 	 	 

    	 

    

Security
is redeemed, the Holder hereof will receive the Optional Redemption Price (as defined below) plus a final Contingent Coupon Payment
(as defined below), if any, on the applicable Optional Redemption Date. Unless the Company defaults in the payment of the Optional
Redemption Price plus the final Contingent Coupon Payment, if any, this Security will cease to be outstanding on such Optional
Redemption Date, no additional Contingent Coupon Payments will be payable on this Security and the Holder hereof will have no
further rights under this Security after such Optional Redemption Date. The “Optional Redemption Price” is
equal to the Face Amount of this Security. The “Optional Redemption Dates” shall be the Contingent Coupon Payment
Dates (as defined below) following each Calculation Day scheduled to occur from March 2020 to December 2028, inclusive.

Payment
of Contingent Coupon Payments, the Maturity Payment Amount and the Optional Redemption Price

On
each quarterly Contingent Coupon Payment Date, the Company shall pay a Contingent Coupon Payment if, and only if, the Closing
Level (as defined below) of the Lowest Performing Index (as defined below) on the related Calculation Day is greater than or equal
to its Coupon Threshold Level (as defined below). A “Contingent Coupon Payment,” if payable as provided herein,
shall be equal to (i) the product of the Face Amount of this Security and the Contingent Coupon Rate, (ii) divided by
4. The “Contingent Coupon Payment Dates” shall be the third Business Day following each Calculation Day, as
each such Calculation Day may be postponed as herein provided, provided that the Contingent Coupon Payment Date with respect to
the Final Calculation Day will be the Stated Maturity Date. If a Calculation Day is postponed with respect to one or more Indices,
the related Contingent Coupon Payment Date will be three Business Days after the last Calculation Day as postponed. The “Contingent
Coupon Rate” is 9.00% per annum. Any Contingent Coupon Payments will be rounded to the nearest cent, with one-half cent
rounded upward. If a Contingent Coupon Payment Date is postponed, the Contingent Coupon Payment, if any, due on that Contingent
Coupon Payment Date will be made on that Contingent Coupon Payment Date as so postponed with the same force and effect as if it
had been made on the originally scheduled Contingent Coupon Payment Date, with no additional amount accruing or payable as a result
of the postponement.

Any
Contingent Coupon Payment so payable, and punctually paid or duly provided for, on any Contingent Coupon Payment Date will, as
provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such Contingent Coupon Payment next preceding such Contingent Coupon Payment
Date. The Regular Record Date for a Contingent Coupon Payment Date shall be the date one Business Day prior to such Contingent
Coupon Payment Date. 

Any
Contingent Coupon Payment not punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor 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 Securities of this series not less than 10 days prior to such Special Record Date, or
be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the
Securities of this series

    	 	2	 

    	 

    

may
be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.

Payment
of any Contingent Coupon Payment on this Security will be made in immediately available funds at the office or agency of the Company
maintained for that purpose in the City of Minneapolis, Minnesota; provided, however, that, at the option of the Company, payment
of any Contingent Coupon Payment may be paid by check mailed to the Person entitled thereto at such Person’s last address
as it appears in the Security Register or by wire transfer to such account as may have been designated by such Person. Payments
of any Contingent Coupon Payment and the Maturity Payment Amount or the Optional Redemption Price, as applicable, on this Security
at Maturity will be made against presentation of this Security at the office or agency of the Company maintained for that purpose
in the City of Minneapolis, Minnesota and at any other office or agency maintained by the Company for such purpose. Notwithstanding
the foregoing, for so long as this Security is a Global Security registered in the name of the Depositary, any payments on this
Security will be made to the Depositary by wire transfer of immediately available funds. 

Payment
of the Maturity Payment Amount or the Optional Redemption Price, as applicable, and any Contingent Coupon Payments on this Security
will be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts.

Definitions
Relating to Maturity Payment Amount, the Optional Redemption Price and Contingent Coupon Payments

If
this Security is not redeemed prior to the Stated Maturity Date as provided above under “Optional Redemption,” the
“Maturity Payment Amount” of this Security will equal:

		•	if
                                         the Ending Level of the Lowest Performing Index on the Final Calculation Day (as defined
                                         below) is greater than or equal to its Downside Threshold Level: the Face Amount; or

 

		•	if
                                         the Ending Level of the Lowest Performing Index on the Final Calculation Day is less
                                         than its Downside Threshold Level:
	 	 	 
	 	 	 

 

All
calculations with respect to the Maturity Payment Amount will be rounded to the nearest one hundred-thousandth, with five one-millionths
rounded upward (e.g., 0.000005 would be rounded to 0.00001); and the Maturity Payment Amount will be rounded to the nearest cent,
with one-half cent rounded upward.

“Index”
shall mean each of the Russell 2000 Index, the S&P 500 Index and the EURO STOXX 50 Index.

The
“Pricing Date” shall mean March 20, 2019.

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The
“Lowest Performing Index” for any Calculation Day will be the Index with the lowest Performance Factor on that
Calculation Day (as such Calculation Day may be postponed for one or more Indices).

The
“Performance Factor” with respect to an Index on any Calculation Day is its Closing Level on such Calculation
Day divided by its Starting Level (expressed as a percentage).

The
“Starting Level” with respect to the Russell 2000 Index is 1543.159, its Closing Level on the Pricing Date,
with respect to the S&P 500 Index is 2824.23, its Closing Level on the Pricing Date, and with respect to the EURO STOXX 50
Index is 3372.38, its Closing Level on the Pricing Date.

The
“Ending Level” of an Index will be its Closing Level on the Final Calculation Day.

The
“Coupon Threshold Level” with respect to the Russell 2000 Index is 1157.36925, which is equal to 75% of its
Starting Level, with respect to the S&P 500 Index is 2118.1725, which is equal to 75% of its Starting Level, and with respect
to the EURO STOXX 50 Index is 2529.285, which is equal to 75% of its Starting Level.

The
“Downside Threshold Level” with respect to the Russell 2000 Index is 925.8954, which is equal to 60% of its
Starting Level, with respect to the S&P 500 Index is 1694.538, which is equal to 60% of its Starting Level, and with respect
to the EURO STOXX 50 Index is 2023.428, which is equal to 60% of its Starting Level.

The
“Closing Level” with respect to each Index on any Trading Day means the official closing level of that Index
reported by the relevant Index Sponsor on such Trading Day, as obtained by the Calculation Agent on such Trading Day from the
licensed third-party market data vendor contracted by the Calculation Agent at such time; in particular, taking into account the
decimal precision and/or rounding convention employed by such licensed third-party market data vendor on such date, subject to
the provisions set forth below under “—Market Disruption Events,” “—Adjustments to an Index”
and “—Discontinuance of an Index.”

“Index
Sponsor” shall mean the sponsor or publisher of an Index.

“Business
Day” shall mean a 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 New York, New York.

The
“Calculation Days” shall be the 20th day of each March, June, September and December, commencing
June 2019 and ending December 2028, and the Final Calculation Day. If any such day is not a Trading Day with respect to any Index,
such Calculation Day for each Index will be postponed to the next succeeding day that is a Trading Day with respect to each Index.
A Calculation Day for an Index is also subject to postponement due to the occurrence of a Market Disruption Event (as defined
below) with respect to such Index on such Calculation Day. The “Final Calculation Day” is March 20, 2029. If
a Market Disruption Event occurs or is continuing with respect to an Index on any Calculation Day, then such Calculation Day for
such Index will be postponed to the first succeeding Trading Day for such Index on which a Market Disruption Event for such Index
has not occurred and is not continuing; however, if such first

    	 	4	 

    	 

    

succeeding
Trading Day has not occurred as of the eighth Trading Day for such Index after the originally scheduled Calculation Day, that
eighth Trading Day shall be deemed to be the Calculation Day for such Index. If a Calculation Day has been postponed eight Trading
Days for an Index after the originally scheduled Calculation Day and a Market Disruption Event occurs or is continuing with respect
to such Index on such eighth Trading Day, the Calculation Agent will determine the Closing Level of such Index on such eighth
Trading Day in accordance with the formula for and method of calculating the Closing Level of such Index last in effect prior
to commencement of the Market Disruption Event, using the closing price (or, with respect to any relevant security, if a Market
Disruption Event has occurred with respect to such security, its good faith estimate of the value of such security at (i) with
respect to the S&P 500 Index or the Russell 2000 Index, the Scheduled Closing Time of the Relevant Stock Exchange for such
security or, if earlier, the actual closing time of the regular trading session of such Relevant Stock Exchange or (ii) with respect
to the EURO STOXX 50 Index, the time at which the official Closing Level of such Index is calculated and published by the relevant
Index Sponsor) on such date of each security included in such Index. As used herein, “closing price” means,
with respect to any security on any date, the Relevant Stock Exchange traded or quoted price of such security as of (i) with respect
to the S&P 500 Index or the Russell 2000 Index, the Scheduled Closing Time of the Relevant Stock Exchange for such security
or, if earlier, the actual closing time of the regular trading session of such Relevant Stock Exchange or (ii) with respect to
the EURO STOXX 50 Index, the time at which the official Closing Level of such Index is calculated and published by the relevant
Index Sponsor. Notwithstanding the postponement of a Calculation Day for an Index due to a Market Disruption Event with respect
to such Index on such Calculation Day, the originally scheduled Calculation Day will remain the Calculation Day for any Index
not affected by a Market Disruption Event on such day.

“Calculation
Agent Agreement” shall mean the Calculation Agent Agreement dated as of May 18, 2018 between the Company and the Calculation
Agent, as amended from time to time.

“Calculation
Agent” shall mean the Person that has entered into the Calculation Agent Agreement with the Company providing for, among
other things, whether a Contingent Coupon Payment will be made, the Optional Redemption Price, if any, and the Maturity Payment
Amount, if any, which term shall, unless the context otherwise requires, include its successors under such Calculation Agent Agreement.
The initial Calculation Agent shall be Wells Fargo Securities, LLC. Pursuant to the Calculation Agent Agreement, the Company may
appoint a different Calculation Agent from time to time after the initial issuance of this Security without the consent of the
Holder of this Security and without notifying the Holder of this Security.

Certain
Definitions 

A
“Trading Day” with respect to the S&P 500 Index or the Russell 2000 Index means a day, as determined by
the Calculation Agent, on which (i) the Relevant Stock Exchanges with respect to each security underlying such Index are
scheduled to be open for trading for their respective regular trading sessions and (ii) each Related Futures or Options Exchange
with respect to such Index is scheduled to be open for trading for its regular trading session.

A
“Trading Day” with respect to the EURO STOXX 50 Index means a day, as determined by the Calculation Agent,
on which (i) the relevant Index Sponsor is scheduled to

    	 	5	 

    	 

    

publish
the level of the EURO STOXX 50 Index and (ii) each Related Futures or Options Exchange with respect to the EURO STOXX 50 Index
is scheduled to be open for trading for its regular trading session.

The
“Relevant Stock Exchange” for any security underlying an Index means the primary exchange or quotation system
on which such security is traded, as determined by the Calculation Agent.

The
“Related Futures or Options Exchange” for an Index means an exchange or quotation system where trading has
a material effect (as determined by the Calculation Agent) on the overall market for futures or options contracts relating to
such Index.

Adjustments
to an Index

If
at any time the method of calculating an Index or a Successor Equity Index, or the closing level thereof, is changed in a material
respect, or if an Index or a Successor Equity 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 such index had those changes or modifications not been made, then the Calculation
Agent will, at the close of business in New York, New York, on each date that the closing level of such index is to be calculated,
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 an index comparable to such Index or Successor Equity Index as if those changes or modifications had not been made,
and the Calculation Agent will calculate the closing level of such Index or Successor Equity Index with reference to such index,
as so adjusted. Accordingly, if the method of calculating an Index or Successor Equity Index is modified so that the level of
such index is a fraction or a multiple of what it would have been if it had not been modified (e.g., due to a split or
reverse split in such equity index), then the Calculation Agent will adjust such Index or Successor Equity Index in order to arrive
at a level of such index as if it had not been modified (e.g., as if the split or reverse split had not occurred).

Discontinuance
of an Index

If
an Index Sponsor discontinues publication of an Index, and such Index Sponsor or another entity publishes a successor or substitute
equity index that the Calculation Agent determines, in its sole discretion, to be comparable to such Index (a “Successor
Equity Index”), then, upon the Calculation Agent’s notification of that determination to the Trustee and the Company,
the Calculation Agent will substitute the Successor Equity Index as calculated by the relevant Index Sponsor or any other entity
for purposes of calculating the Closing Level of such Index on any date of determination. Upon any selection by the Calculation
Agent of a Successor Equity Index, the Company will cause notice to be given to the Holder of this Security.

In
the event that an Index Sponsor discontinues publication of an Index prior to, and the discontinuance is continuing on, a Calculation
Day and the Calculation Agent determines that no Successor Equity Index is available at such time, the Calculation Agent will
calculate a substitute Closing Level for such Index in accordance with the formula for and method of calculating such Index last
in effect prior to the discontinuance, but using only those securities that comprised such Index immediately prior to that discontinuance.
If a Successor Equity Index is selected or

    	 	6	 

    	 

    

the
Calculation Agent calculates a level as a substitute for such Index, the Successor Equity Index or level will be used as a substitute
for such Index for all purposes, including the purpose of determining whether a Market Disruption Event exists.

If
on a Calculation Day an Index Sponsor fails to calculate and announce the level of an Index, the Calculation Agent will calculate
a substitute Closing Level of such Index in accordance with the formula for and method of calculating such Index last in effect
prior to the failure, but using only those securities that comprised such Index immediately prior to that failure; provided
that, if a Market Disruption Event occurs or is continuing on such day with respect to such Index, then the provisions set
forth above under the definition of “Calculation Days” shall apply in lieu of the foregoing.

Market
Disruption Events 

A
“Market Disruption Event” with respect to the S&P 500 Index or the Russell 2000 Index means any of the
following events as determined by the Calculation Agent in its sole discretion:

		(A)	The
                                         occurrence or existence of a material suspension of or limitation imposed on trading
                                         by the Relevant Stock Exchanges or otherwise relating to securities which then comprise
                                         20% or more of the level of such Index or any Successor Equity Index at any time during
                                         the one-hour period that ends at the Close of Trading on that day, whether by reason
                                         of movements in price exceeding limits permitted by those Relevant Stock Exchanges or
                                         otherwise.

 

		(B)	The
                                         occurrence or existence of a material suspension of or limitation imposed on trading
                                         by any Related Futures or Options Exchange or otherwise in futures or options contracts
                                         relating to such Index or any Successor Equity Index on any Related Futures or Options
                                         Exchange at any time during the one-hour period that ends at the Close of Trading on
                                         that day, whether by reason of movements in price exceeding limits permitted by the Related
                                         Futures or Options Exchange or otherwise.

 

		(C)	The
                                         occurrence or existence of any event, other than an early closure, that materially disrupts
                                         or impairs the ability of market participants in general to effect transactions in, or
                                         obtain market values for, securities that then comprise 20% or more of the level of such
                                         Index or any Successor Equity Index on their Relevant Stock Exchanges at any time during
                                         the one-hour period that ends at the Close of Trading on that day.

 

		(D)	The
                                         occurrence or existence of any event, other than an early closure, that materially disrupts
                                         or impairs the ability of market participants in general to effect transactions in, or
                                         obtain market values for, futures or options contracts relating to such Index or any
                                         Successor Equity Index on any Related Futures or Options Exchange at any time during
                                         the one-hour period that ends at the Close of Trading on that day.

 

    	 	7	 

    	 

    

		(E)	The
                                         closure on any Exchange Business Day of the Relevant Stock Exchanges on which securities
                                         that then comprise 20% or more of the level of such Index or any Successor Equity Index
                                         are traded or any Related Futures or Options Exchange with respect to such Index or any
                                         Successor Equity Index prior to its Scheduled Closing Time unless the earlier closing
                                         time is announced by the Relevant Stock Exchange or Related Futures or Options Exchange,
                                         as applicable, at least one hour prior to the earlier of (1) the actual closing time
                                         for the regular trading session on such Relevant Stock Exchange or Related Futures or
                                         Options Exchange, as applicable, and (2) the submission deadline for orders to be entered
                                         into the Relevant Stock Exchange or Related Futures or Options Exchange, as applicable,
                                         system for execution at such actual closing time on that day.

 

		(F)	The
                                         Relevant Stock Exchange for any security underlying such Index or Successor Equity Index
                                         or any Related Futures or Options Exchange with respect to such Index or Successor Equity
                                         Index fails to open for trading during its regular trading session.

For
purposes of determining whether a Market Disruption Event has occurred with respect to the S&P 500 Index or the Russell 2000
Index:

 

		(1)	the
                                         relevant percentage contribution of a security to the level of such Index or any Successor
                                         Equity Index will be based on a comparison of (x) the portion of the level of such
                                         Index attributable to that security and (y) the overall level of such Index or Successor
                                         Equity Index, in each case immediately before the occurrence of the Market Disruption
                                         Event;

 

		(2)	the
                                         “Close of Trading” on any Trading Day for such Index or any Successor
                                         Equity Index means the Scheduled Closing Time of the Relevant Stock Exchanges with respect
                                         to the securities underlying such Index or Successor Equity Index on such Trading Day;
                                         provided that, if the actual closing time of the regular trading session of any such
                                         Relevant Stock Exchange is earlier than its Scheduled Closing Time on such Trading Day,
                                         then (x) for purposes of clauses (A) and (C) of the definition of “Market
                                         Disruption Event” above, with respect to any security underlying such Index or
                                         Successor Equity Index for which such Relevant Stock Exchange is its Relevant Stock Exchange,
                                         the “Close of Trading” means such actual closing time and (y) for purposes
                                         of clauses (B) and (D) of the definition of “Market Disruption Event”
                                         above, with respect to any futures or options contract relating to such Index or Successor
                                         Equity Index, the “Close of Trading” means the latest actual closing time
                                         of the regular trading session of any of the Relevant Stock Exchanges, but in no event
                                         later than the Scheduled Closing Time of the Relevant Stock Exchanges;

 

		(3)	the
                                         “Scheduled Closing Time” of any Relevant Stock Exchange or Related
                                         Futures or Options Exchange on any Trading Day for such Index or any Successor Equity
                                         Index means the scheduled weekday closing time of such Relevant Stock Exchange or Related
                                         Futures or Options Exchange on such Trading Day, without regard to after hours or any
                                         other trading outside the regular trading session hours; and

 

    	 	8	 

    	 

    

		(4)	an
                                         “Exchange Business Day” means any Trading Day for such Index or any
                                         Successor Equity Index on which each Relevant Stock Exchange for the securities underlying
                                         such Index or any Successor Equity Index and each Related Futures or Options Exchange
                                         with respect to such Index or any Successor Equity Index are open for trading during
                                         their respective regular trading sessions, notwithstanding any such Relevant Stock Exchange
                                         or Related Futures or Options Exchange closing prior to its Scheduled Closing Time.

 

A
“Market Disruption Event” with respect to the EURO STOXX 50 Index means any of (A), (B), (C) or (D) below,
as determined by the Calculation Agent in its sole discretion:

 

		(A)	Any
                                         of the following events occurs or exists with respect to any security included in such
                                         Index or any Successor Equity Index, and the aggregate of all securities included in
                                         such Index or Successor Equity Index with respect to which any such event occurs comprise
                                         20% or more of the level of such Index or Successor Equity Index;

		•	a
                                         material suspension of or limitation imposed on trading by the Relevant Stock Exchange
                                         for such security or otherwise at any time during the one-hour period that ends at the
                                         Scheduled Closing Time for the Relevant Stock Exchange for such security on that day,
                                         whether by reason of movements in price exceeding limits permitted by the Relevant Stock
                                         Exchange or otherwise;

		•	any
                                         event, other than an early closure, that materially disrupts or impairs the ability of
                                         market participants in general to effect transactions in, or obtain market values for,
                                         such security on its Relevant Stock Exchange at any time during the one-hour period that
                                         ends at the Scheduled Closing Time for the Relevant Stock Exchange for such security
                                         on that day; or

		•	the
                                         closure on any Exchange Business Day of the Relevant Stock Exchange for such security
                                         prior to its Scheduled Closing Time unless the earlier closing is announced by such Relevant
                                         Stock Exchange at least one hour prior to the earlier of (i) the actual closing time
                                         for the regular trading session on such Relevant Stock Exchange and (ii) the submission
                                         deadline for orders to be entered into the Relevant Stock Exchange system for execution
                                         at the Scheduled Closing Time for such Relevant Stock Exchange on that day.

		(B)	Any
                                         of the following events occurs or exists with respect to futures or options contracts
                                         relating to such Index or any Successor Equity Index:

		•	a
                                         material suspension of or limitation imposed on trading by any Related Futures or Options
                                         Exchange or otherwise at any time during the one-hour period that ends at the close of
                                         trading on such Related Futures or Options Exchange on that day, whether by reason of
                                         movements in price exceeding limits permitted by the Related Futures or Options Exchange
                                         or otherwise;

    	 	9	 

    	 

    

		•	any
                                         event, other than an early closure, that materially disrupts or impairs the ability of
                                         market participants in general to effect transactions in, or obtain market values for,
                                         futures or options contracts relating to such Index or Successor Equity Index on any
                                         Related Futures or Options Exchange at any time during the one-hour period that ends
                                         at the close of trading on such Related Futures or Options Exchange on that day; or

		•	the
                                         closure on any Exchange Business Day of any Related Futures or Options Exchange prior
                                         to its Scheduled Closing Time unless the earlier closing time is announced by such Related
                                         Futures or Options Exchange at least one hour prior to the earlier of (i) the actual
                                         closing time for the regular trading session on such Related Futures or Options Exchange
                                         and (ii) the submission deadline for orders to be entered into the Related Futures or
                                         Options Exchange system for execution at the close of trading for such Related Futures
                                         or Options Exchange on that day.

		(C)	The
                                         relevant Index Sponsor fails to publish the level of such Index or any Successor Equity
                                         Index (other than as a result of the relevant Index Sponsor having discontinued publication
                                         of such Index or Successor Equity Index and no Successor Equity Index being available).

		(D)	Any
                                         Related Futures or Options Exchange fails to open for trading during its regular trading
                                         session.

For
purposes of determining whether a Market Disruption Event has occurred with respect to the EURO STOXX 50 Index:

		(1)	the
                                         relevant percentage contribution of a security included in such Index or any Successor
                                         Equity Index to the level of such Index will be based on a comparison of (x) the portion
                                         of the level of such index attributable to that security to (y) the overall level of
                                         such index, in each case using the official opening weightings as published by the relevant
                                         Index Sponsor as part of the market opening data;

		(2)	the
                                         “Scheduled Closing Time” of any Relevant Stock Exchange or Related
                                         Futures or Options Exchange on any Trading Day means the scheduled weekday closing time
                                         of such Relevant Stock Exchange or Related Futures or Options Exchange on such Trading
                                         Day, without regard to after hours or any other trading outside the regular trading session
                                         hours; and

		(3)	an
                                         “Exchange Business Day” means any Trading Day on which (i) the relevant
                                         Index Sponsor publishes the level of such Index or any Successor Equity Index and (ii)
                                         each Related Futures or Options Exchange is open for trading during its regular trading
                                         session, notwithstanding any Related Futures or Options Exchange closing prior to its
                                         Scheduled Closing Time.

 

    	 	10	 

    	 

    

Calculation
Agent

The
Calculation Agent will determine whether a Contingent Coupon Payment will be made, the Optional Redemption Price, if any, and
the Maturity Payment Amount, if any. In addition, the Calculation Agent will (i) determine if adjustments are required to
the Closing Level of an Index under the circumstances described in this Security, (ii) if publication of an Index is discontinued,
select a Successor Equity Index or, if no Successor Equity Index is available, determine the Closing Level of such Index under
the circumstances described in this Security, and (iii) determine whether a Market Disruption Event has occurred.

The
Company covenants that, so long as this Security is Outstanding, there shall at all times be a Calculation Agent (which shall
be a broker-dealer, bank or other financial institution) with respect to this Security.

All
determinations made by the Calculation Agent with respect to this Security will be at the sole discretion of the Calculation Agent
and, in the absence of manifest error, will be conclusive for all purposes and binding on the Company and the Holder of this Security.

Redemption
and Repayment

This
Security is not subject to repayment at the option of the Holder hereof prior to March 23, 2029. This Security is subject to redemption
prior to March 23, 2029 as set forth under “Optional Redemption” above. This Security is not entitled to any sinking
fund.

Acceleration

If
an Event of Default, as defined in the Indenture, with respect to this Security shall occur and be continuing, the Maturity Payment
Amount (calculated as set forth in the next two sentences) of this Security may be declared due and payable in the manner and
with the effect provided in the Indenture. The amount payable to the Holder hereof upon any acceleration permitted under the Indenture
will be equal to the Maturity Payment Amount hereof calculated as provided herein, plus a portion of a final Contingent Coupon
Payment, if any. The Maturity Payment Amount and any final Contingent Coupon Payment will be calculated as though the date of
acceleration were the Final Calculation Day. The final Contingent Coupon Payment, if any, will be prorated from and including
the immediately preceding Contingent Coupon Payment Date to but excluding the date of acceleration.

__________________

Reference
is hereby made to the further provisions of this Security 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
or its duly authorized agent under the Indenture referred to on the reverse hereof by manual signature, this Security shall not
be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

[The
remainder of this page has been left intentionally blank]

 

    	 	11	 

    	 

    

IN WITNESS WHEREOF,
the Company has caused this instrument to be duly executed.

 

	

DATED:

		 

 

	 	WELLS FARGO FINANCE LLC
	 	 	 
	 	 	 
	 	By:	 
	 	  	
	 	 	Its:	    
	 	 	 	
	 	 	 
	 	Attest:	 
	 	 	
	 	 	Its:	
	 	 	
	 	 	

 

TRUSTEE’S
CERTIFICATE OF

AUTHENTICATION

This
is one of the Securities of the 

series
designated therein described

in
the within-mentioned Indenture.

 

 

	CITIBANK, N.A.,	 
	 	as Trustee	 
	 	 	 
	By:	 	 
	 	Authorized Signature	 
	 	 	 
	OR	 
	 	 	 
	WELLS FARGO BANK, N.A.,	 
	 	as Authenticating Agent for the Trustee	 
	 	 	 
	By:	 	 
	 	Authorized Signature	 

 

 

    	 	12	 

    	 

    

[Reverse
of Note]

 

 

WELLS
FARGO FINANCE LLC

 

MEDIUM-TERM
NOTE, SERIES A

Fully
and Unconditionally Guaranteed by Wells Fargo & Company

 

Principal
at Risk Securities Linked to the Lowest Performing of the Russell 2000® Index, the S&P 500®
Index and the EURO STOXX 50® Index due March 23, 2029

 

This
Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued
and to be issued in one or more series under an indenture dated as of April 25, 2018, as amended or supplemented from time to
time (herein called the “Indenture”), among the Company, as issuer, Wells Fargo & Company, as guarantor
(the “Guarantor”) and Citibank, N.A., as trustee (herein called the “Trustee,” which term
includes any successor trustee under 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 thereunder of the Company, the Guarantor,
the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and
delivered. This Security is one of the series of the Securities designated as Medium-Term Notes, Series A, of the Company. The
amount payable on the Securities of this series may be determined by reference to the performance of one or more equity-, commodity-
or currency-based indices, exchange traded funds, securities, commodities, currencies, statistical measures of economic or financial
performance, or a basket comprised of two or more of the foregoing, or any other market measure or may bear interest at a fixed
rate or a floating rate. The Securities of this series may mature at different times, be redeemable at different times or not
at all, be repayable at the option of the Holder at different times or not at all and be denominated in different currencies.

The
Securities are issuable only in registered form without coupons and will be either (a) book-entry securities represented
by one or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated securities
issued to and registered in the names of, the beneficial owners or their nominees.

The
Company agrees, to the extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious rates of
interest against a Holder of this Security.

Guarantee

The
Securities of this series are fully and unconditionally guaranteed by the Guarantor as and to the extent set forth in the Indenture.

Modification
and Waivers 

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 Guarantor and the rights of the Holders of the Securities of each series to be affected under the Indenture
at any time by the

    	 	13	 

    	 

    

Company,
the Guarantor and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time
Outstanding of all series to be affected, acting together as a class. The Indenture also contains provisions permitting the Holders
of a majority in principal amount of the Securities of all series at the time Outstanding affected by certain provisions of the
Indenture, acting together as a class, on behalf of the Holders of all Securities of such series, to waive compliance by the Company
or the Guarantor with those provisions of the Indenture. Certain past defaults under the Indenture and their consequences may
be waived under the Indenture by the Holders of a majority in principal amount of the Securities of each series at the time Outstanding,
on behalf of the Holders of all Securities of such series. Solely for the purpose of determining whether any consent, waiver,
notice or other action or Act to be taken or given by the Holders of Securities pursuant to the Indenture has been given or taken
by the Holders of Outstanding Securities in the requisite aggregate principal amount, the principal amount of this Security will
be deemed to be equal to the amount set forth on the face hereof as the “Face Amount” hereof. Any such consent or
waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security
and of any Security 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 Security.

Defeasance

Section 403
and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of the Indenture, relating
to defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants, upon
compliance by the Company or the Guarantor with certain conditions set forth therein, shall not apply to this Security. The remaining
provisions of Section 401 of the Indenture shall apply to this Security.

Authorized
Denominations

This
Security is issuable only in registered form without coupons in denominations of $1,000 or any amount in excess thereof which
is an integral multiple of $1,000.

Registration
of Transfer

Upon
due presentment for registration of transfer of this Security at the office or agency of the Company in the City of Minneapolis,
Minnesota, a new Security or Securities of this series, with the same terms as this Security, in authorized denominations for
an equal aggregate Face Amount will be issued to the transferee in exchange herefor, as provided in the Indenture and subject
to the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental
charge imposed in connection therewith.

This
Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the Company that
it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a clearing
agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed within 90 days
after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in its sole discretion determines
that this Security shall be exchangeable for definitive Securities in registered form and notifies the Trustee thereof or (z)
an Event of Default with respect

    	 	14	 

    	 

    

to
the Securities represented hereby has occurred and is continuing. If this Security is exchangeable pursuant to the preceding sentence,
it shall be exchangeable for definitive Securities in registered form, bearing interest at the same rate, having the same date
of issuance, Stated Maturity Date and other terms and of authorized denominations aggregating a like amount. 

This
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 of the Depositary
or a nominee of such successor. Except as provided above, owners of beneficial interests in this Global Security will not be entitled
to receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under
the Indenture.

Prior
to due presentment of this Security for registration of transfer, the Company, the Guarantor, the Trustee and any agent of the
Company, the Guarantor or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the Guarantor, the Trustee nor any such agent shall
be affected by notice to the contrary.

Obligation
of the Company Absolute

No
reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the Contingent Coupon Payments, if any, and the Maturity Payment Amount or
the Optional Redemption Price, as applicable, on this Security at the times, place and rate, and in the coin or currency, herein
prescribed, except as otherwise provided in this Security.

No
Personal Recourse

No
recourse shall be had for the payment of any Contingent Coupon Payments or the Maturity Payment Amount or the Optional Redemption
Price, as applicable, on this Security or 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, stockholder, officer or director, as such, past,
present or future, of the Company or any successor corporation or of the Guarantor 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 issuance hereof, expressly waived and released.

Defined
Terms

All
terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture unless
otherwise defined in this Security.

Governing
Law

This
Security shall be governed by and construed in accordance with the law of the State of New York, without regard to principles
of conflicts of laws.

    	 	15	 

    	 

    

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 	 
	 	(Cust)	 	(Minor)

 

	Under Uniform Gifts to Minors Act	 
	 	 
	 	 
	(State)	 

 

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

 

 

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

 

	Please Insert Social Security or	 
	Other Identifying Number of Assignee
	 	 
	 	 

 

 

	 
	 
	 

(Please
print or type name and address including postal zip code of Assignee)    

 

    	 	16	 

    	 

    

the
within Security of WELLS FARGO FINANCE LLC and does hereby irrevocably constitute and appoint __________________ attorney to transfer
the said Security on the books of the Company, 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 instrument in every particular,
without alteration or enlargement or any change whatever.

 

    	 	17Exhibit 4.3

 

PLX PHARMA INC. 

Issuer

AND

as Trustee

INDENTURE

Dated as of __________, 20__

Debt Securities

     

     

    

CROSS-REFERENCE TABLE(1)

	
        SECTION OF

        TRUST INDENTURE

        ACT OF 1939, AS AMENDED
	
        SECTION(S)
        OF INDENTURE

	310(a)	7.9
	310(b)	7.8
	311(a)	7.13
	311(b)	7.13
	312(a)	5.1, 5.2(a)
	312(b)	5.2(b)
	312(c)	5.2(c)
	313(a)	5.4
	313(b)	5.4
	313(c)	5.4
	313(d)	5.4
	314(a)	5.3, 14.12
	314(c)	14.7(a)
	314(e)	14.7(b)
	315(a)	7.1
	315(b)	7.14
	315(c)	7.1
	315(d)	7.1
	315(e)	6.7
	316(a)	6.6, 8.4
	316(b)	6.4
	316(c)	8.1
	317(a)	6.2
	317(b)	4.2
	318(a)	14.9

 

		(1)	This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation of
any of its terms or provisions.

     

     

    

TABLE OF CONTENTS

Page

	ARTICLE I   DEFINITIONS	1
	Section 1.1   Definitions of Terms.	1
	Section 1.2   Incorporation by Reference of Trust Indenture Act.	6
	ARTICLE II   ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES	6
	Section 2.1   Designation and Terms of Securities.	6
	Section 2.2   Form of Securities and Trustee’s Certificate.	9
	Section 2.3   Denominations; Provisions for Payment.	9
	Section 2.4   Execution and Authentication.	10
	Section 2.5   Registration of Transfer and Exchange.	11
	Section 2.6   Temporary Securities.	12
	Section 2.7   Mutilated, Destroyed, Lost or Stolen Securities.	13
	Section 2.8   Cancellation.	14
	Section 2.9   Benefits of Indenture.	14
	Section 2.10   Authenticating Agent.	14
	Section 2.11   Global Securities.	15
	Section 2.12   CUSIP and ISIN Numbers.	16
	ARTICLE III   REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	16
	Section 3.1   Redemption.	16
	Section 3.2   Notice of Redemption.	16
	Section 3.3   Payment Upon Redemption.	17
	Section 3.4   Sinking Fund.	18
	Section 3.5   Satisfaction of Sinking Fund Payments With Securities.	18
	Section 3.6   Redemption of Securities for Sinking Fund.	18
	ARTICLE IV   COVENANTS	19
	Section 4.1   Payment of Principal, Premium and Interest.	19
	Section 4.2   Paying Agent and Security Registrar.	19
	Section 4.3   Appointment to Fill Vacancy in Office of Trustee.	21
	Section 4.4   Compliance With Consolidation Provisions.	21
	ARTICLE V   SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	21
	Section 5.1   Company to Furnish Trustee Names and Addresses of Securityholders.	21
	Section 5.2   Preservation of Information; Communications With Securityholders.	21
	Section 5.3   Reports by the Company.	22
	Section 5.4   Reports by the Trustee.	22
	ARTICLE VI   REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	23
	Section 6.1   Events of Default.	23

  

    	i

     

    

 

	Section 6.2   Collection of Indebtedness and Suits for Enforcement by Trustee.	25
	Section 6.3   Application of Moneys Collected.	26
	Section 6.4   Limitation on Suits.	26
	Section 6.5   Rights and Remedies Cumulative; Delay or Omission Not Waiver.	27
	Section 6.6   Control by Securityholders.	28
	Section 6.7   Undertaking to Pay Costs.	28
	ARTICLE VII   CONCERNING THE TRUSTEE	29
	Section 7.1   Certain Duties and Responsibilities of Trustee.	29
	Section 7.2   Certain Rights of Trustee.	30
	Section 7.3   Trustee Not Responsible for Recitals or Issuance or Securities.	31
	Section 7.4   May Hold Securities and Otherwise Deal With the Company.	32
	Section 7.5   Moneys Held in Trust.	32
	Section 7.6   Compensation and Reimbursement.	32
	Section 7.7   Reliance on Officer’s Certificate.	33
	Section 7.8   Disqualification; Conflicting Interests.	33
	Section 7.9   Corporate Trustee Required; Eligibility.	33
	Section 7.10   Resignation and Removal; Appointment of Successor.	34
	Section 7.11   Acceptance of Appointment by Successor.	35
	Section 7.12   Merger, Conversion, Consolidation or Succession to Business.	36
	Section 7.13   Preferential Collection of Claims Against the Company.	37
	Section 7.14   Notice of Default.	37
	Section 7.15   Limitation of Liability	37
	ARTICLE VIII   CONCERNING THE SECURITYHOLDERS	37
	Section 8.1   Evidence of Action by Securityholders.	37
	Section 8.2   Proof of Execution by Securityholders.	38
	Section 8.3   Who May Be Deemed Owners.	38
	Section 8.4   Certain Securities Owned by Company Disregarded.	38
	Section 8.5   Actions Binding on Future Securityholders.	39
	ARTICLE IX   SUPPLEMENTAL INDENTURES	39
	Section 9.1   Supplemental Indentures Without the Consent of Securityholders.	39
	Section 9.2   Supplemental Indentures With the Consent of Securityholders.	41
	Section 9.3   Effect of Supplemental Indentures.	42
	Section 9.4   Securities Affected by Supplemental Indentures.	42
	Section 9.5   Execution of Supplemental Indentures.	42
	ARTICLE X   SUCCESSOR ENTITY	43
	Section 10.1   Company May Consolidate, Etc.	43
	Section 10.2   Successor Entity Substituted.	43
	Section 10.3   Evidence of Consolidation, Etc. to Trustee.	44
	ARTICLE XI   SATISFACTION AND DISCHARGE	44
	Section 11.1   Satisfaction and Discharge of Indenture.	44
	Section 11.2   Application of Trust Money.	45
	ARTICLE XII   LEGAL DEFEASANCE AND COVENANT DEFEASANCE	46
	Section 12.1   Option to Effect Legal Defeasance or Covenant Defeasance.	46
	Section 12.2   Legal Defeasance and Discharge.	46

  

    	ii

     

    

 

	Section 12.3   Covenant Defeasance.	46
	Section 12.4   Conditions to Legal or Covenant Defeasance.	47
	Section 12.5   Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions.	48
	Section 12.6   Repayment to Company.	49
	Section 12.7   Reinstatement.	49
	ARTICLE XIII   IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	49
	Section 13.1   No Recourse.	49
	ARTICLE XIV   MISCELLANEOUS PROVISIONS	50
	Section 14.1   Effect on Successors and Assigns.	50
	Section 14.2   Actions by Successor.	50
	Section 14.3   Surrender of Company Powers.	50
	Section 14.4   Notices.	50
	Section 14.5   Governing Law/Waiver of Jury Trial.	51
	Section 14.6   Treatment of Securities as Debt.	51
	Section 14.7   Compliance Certificates and Opinions.	51
	Section 14.8   Payments on Business Days.	51
	Section 14.9   Conflict With Trust Indenture Act.	52
	Section 14.10   Counterparts.	52
	Section 14.11   Severability.	52
	Section 14.12   Compliance Certificates.	52
	Section 14.13   USA Patriot Act.	52
	Section 14.14   Consent to Jurisdiction and Service.	53
	Section 14.15   Force Majeure.	53

    	iii

     

    

INDENTURE

INDENTURE, dated as of __________, 20__,
among PLx Pharma Inc., a Delaware corporation (the “Company”), and __________, a national banking association
organized under the laws of the United States, as trustee (the “Trustee”):

WHEREAS, for its lawful corporate purposes,
the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of debt securities (hereinafter
referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to time
in one or more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the Trustee;

WHEREAS, to provide the terms and conditions
upon which the Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this
Indenture; and

WHEREAS, all things necessary to make
this Indenture a valid agreement of the Company, in accordance with its terms, have been done.

NOW, THEREFORE, in consideration of the
premises and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal
and ratable benefit of the holders of Securities:

ARTICLE
I

DEFINITIONS

Section
1.1 Definitions of Terms.

The terms defined in this Section (except as in this Indenture
or any Board Resolution or indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires)
for all purposes of this Indenture and of any Board Resolution or indenture supplemental hereto shall have the respective meanings
specified in this Section and shall include the plural as well as the singular. All other terms used in this Indenture that are
defined in the Trust Indenture Act of 1939, as amended, or that are by reference in such Act defined in the Securities Act of 1933,
as amended (except as herein or any Board Resolution or indenture supplemental hereto otherwise expressly provided or unless the
context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said Securities
Act as in force at the date of the execution of this instrument.

“Authenticating Agent” means an authenticating
agent with respect to all or any of the series of Securities appointed by the Trustee pursuant to Section 2.10.

“Affiliate” of any specified Person means
any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified
person. For purposes of this definition, “control,” as used with respect to any Person, means the possession,
directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through
the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,”
 “controlled by” and “under common control with” have correlative meanings.

    	 

     

    

“Authorized Officer,” when used with respect
to the Company, means the Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief Financial Officer,
the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Executive Vice President or Senior Vice President
of the Company.

“Bankruptcy Law” means Title 11, U.S.
Code, or any similar federal or state law for the relief of debtors.

“Board of Directors” means the Board of
Directors of the Company or any duly authorized committee of such Board.

“Board Resolution” means a copy of one
or more resolutions certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board
of Directors, (or such committee of the Board of Directors or officers of the Company to which authority to act on behalf of the
Board of Directors has been delegated) and to be in full force and effect on the date of such certification, and to be delivered
to Trustee.

“Business Day” means, with respect to
any series of Securities, any day other than a day on which federal or state banking institutions in the Borough of Manhattan,
the City and State of New York, are authorized or obligated by law, executive order or regulation to close.

“Code” means the Internal Revenue Code
of 1986, as amended.

“Commission” means the Securities and
Exchange Commission.

“Company” means PLx Pharma Inc., a Delaware
corporation duly organized and existing under the laws of the State of Delaware, and, subject to the provisions of Article X, shall
also include its successors and assigns.

“Company Request” and “Company
Order” means a written request or order signed in the name of the Company by one or more Authorized Officers of the Company,
and delivered to the Trustee.

“Corporate Trust Office” means the principal
office of the Trustee at which, at any particular time, this Indenture shall be administered, which office at the date hereof is
located at __________; Attention: __________. With respect to presentation for transfer or exchange, conversions or principal payment,
such address shall be __________; Attention: __________, or such other address as the Trustee may designate from time to time by
written notice to the Securityholders and the Company, or the principal corporate trust office of any successor Trustee (or such
other address as such successor Trustee may designate from time to time by written notice to the Securityholders and the Company).

“Covenant Defeasance” shall have the meaning
set forth in Section 12.3.

    	2

     

    

“Custodian” means any receiver, trustee,
assignee, liquidator or similar official under any Bankruptcy Law.

“Default” means any event, act or condition
that with notice or lapse of time, or both, would constitute an Event of Default.

“Depositary” means, with respect to Securities
of any series for which the Company shall determine that such Securities will be issued as a Global Security, The Depository Trust
Company, New York, New York, another clearing agency, or any successor registered as a clearing agency under the Exchange Act,
or other applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.1
or 2.11.

“Event of Default” means, with respect
to Securities of a particular series, any event specified in Section 6.1, continued for the period of time, if any, therein designated.

“Exchange Act” means the Securities Exchange
Act of 1934, as amended, and the rules and regulations promulgated by the Commission thereunder.

“Global Security” means, with respect
to any series of Securities, a Security executed by the Company and delivered by the Trustee to the Depositary or pursuant to the
Depositary’s instruction, all in accordance with this Indenture, which shall be registered in the name of the Depositary
or its nominee.

“Governmental Obligations” means securities
that are (a) direct obligations of the U.S. for the payment of which its full faith and credit is pledged or (b) obligations of
a Person controlled or supervised by and acting as an agency or instrumentality of the U.S., the payment of which is unconditionally
guaranteed as a full faith and credit obligation by the U.S. that, in either case, are not callable or redeemable at the option
of the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities
Act) as custodian with respect to any such Governmental Obligation or a specific payment of principal of or interest on any such
Governmental Obligation held by such custodian for the account of the holder of such depositary receipt; provided, however, that
(except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such
depositary receipt from any amount received by the custodian in respect of the Governmental Obligation or the specific payment
of principal of or interest on the Governmental Obligation evidenced by such depositary receipt.

“herein,” “hereof”
and “hereunder,” and other words of similar import, refer to this Indenture as a whole and not to any particular
Article, Section or other subdivision.

“Indenture” means this instrument as originally
executed or as it may from time to time be supplemented or amended by one or more Board Resolutions or one or more indentures supplemental
hereto entered into in accordance with the terms hereof.

“Interest Payment Date,” when used with
respect to any installment of interest on a Security of a particular series, means the date specified in such Security or in a
Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of
interest with respect to Securities of that series is due and payable.

    	3

     

    

“Legal Defeasance” shall have the meaning
set forth in Section 12.2.

“Officer’s Certificate” means a
certificate signed by an Authorized Officer of the Company that is delivered to the Trustee in accordance with the terms hereof.
Each such certificate shall include the statements provided for in Section 14.7, if and to the extent required by the provisions
thereof. An Officer’s Certificate given pursuant to Section 14.12 shall be signed by the principal executive, financial or
accounting officer of the Company but need not contain the statements provided for in Section 14.7.

“Opinion of Counsel” means an opinion
in writing subject to customary exceptions of legal counsel, who may be an employee of or counsel for the Company, that is delivered
to the Trustee in accordance with the terms hereof. Each such opinion shall include the statements provided for in Section 14.7,
if and to the extent required by the provisions thereof.

“Outstanding,” when used with reference
to Securities of any series, means, subject to the provisions of Section 8.4, as of any particular time, all Securities of that
series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled
by the Trustee, or delivered to the Trustee or any Paying Agent for cancellation or that have previously been canceled; (b) Securities
or portions thereof for the payment or redemption of which cash or Governmental Obligations in the necessary amount shall have
been irrevocably deposited in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside
and segregated in trust by the Company (if the Company shall act as its own Paying Agent); provided, however, that if such Securities
or portions of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given
as in Article III provided, or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities
in lieu of or in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section
2.7, unless the Trustee and the Company receive proof satisfactory to them that the replaced Security is held by a protected purchaser.

“Paying Agent” shall have the meaning
set forth in Section 4.2(a).

“Person” means any individual, corporation,
partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company or
government or other entity, and includes any syndicate or group that would be deemed to be a “person” under
Section 13(d)(3) of the Exchange Act.

“Predecessor Security” of any particular
Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security;
and, for the purposes of this definition, any Security authenticated and delivered under Section 2.7 in lieu of a lost, destroyed
or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security.

“Redemption Date,” when used with respect
to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture.

“Securities” shall have the meaning set
forth in the recitals to this Indenture.

    	4

     

    

“Securities Act” means the Securities
Act of 1933, as amended.

“Securityholder,” “holder of
Securities,” “registered holder,” or other similar term, means the Person or Persons in whose name
or names a particular Security shall be registered on the Security Register in accordance with the terms of this Indenture.

“Security Register” shall have the meaning
set forth in Section 4.2(a).

“Security Registrar” shall have the meaning
set forth in Section 4.2(a).

“Stated Maturity,” when used with respect
to any security or any installment of principal thereof or interest thereon, means the date specified in such Security or a coupon
representing such installment of interest as the fixed date on which the principal of such Security or such installment of principal
or interest is due and payable.

“Subsidiary” means, with respect to any
Person, (i) any corporation at least a majority of whose outstanding Voting Stock shall at the time be owned, directly or indirectly,
by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, (ii) any general partnership,
joint venture or similar entity, at least a majority of whose outstanding partnership or similar interests shall at the time be
owned by such Person, or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries and (iii) any
limited partnership of which such Person or any of its Subsidiaries is a general partner.

“Trustee” means __________, and, subject
to the provisions of Article VII, shall also include its successors and assigns, and, if at any time there is more than one Person
acting in such capacity hereunder, “Trustee” shall mean each such Person. The term “Trustee”
as used with respect to a particular series of the Securities shall mean the trustee with respect to that series.

“Trust Indenture Act” means the Trust
Indenture Act of 1939, as amended.

“Trust Officer” means any officer of the
Trustee with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate
trust matter hereunder, any other officer of the Trustee to whom such matter is referred because of his or her knowledge of and
familiarity with the particular subject.

“Uniform Commercial Code” means the New
York Uniform Commercial Code as in effect from time to time.

“U.S.” means the United States of America.

“USA Patriot Act” shall have the meaning
set forth in Section 14.13.

“Voting Stock,” as applied to stock of
any Person, means shares, interests, participations or other equivalents in the equity interest (however designated) in such Person
having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares,
interests, participations or other equivalents having such power only by reason of the occurrence of a contingency.

    	5

     

    

Section
1.2 Incorporation by Reference of Trust Indenture Act.

Whenever this Indenture refers to a provision of the Trust
Indenture Act, the provision is incorporated by reference in and made a part of this Indenture.

All Trust Indenture Act terms used in this Indenture that
are defined by the Trust Indenture Act, defined by Trust Indenture Act reference to another statute or defined by Commission rule
have the meanings assigned to them by such definitions.

ARTICLE
II

ISSUE, DESCRIPTION, TERMS, EXECUTION,

REGISTRATION AND EXCHANGE OF SECURITIES

Section
2.1 Designation and Terms of Securities.

The aggregate principal amount of Securities that may be
authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more series up to the aggregate
principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution or pursuant to
one or more indentures supplemental hereto. Prior to the initial issuance of Securities of any series, there shall be established
in or pursuant to a Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures
supplemental hereto:

(1)
the title of the Securities of the series (which shall distinguish the Securities of that series from all other Securities);

(2)
the principal amount of the Securities being offered and any limit upon the aggregate principal amount of the Securities
of that series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered
upon registration of transfer of, or in exchange for, or in lieu of, other Securities of that series);

(3)
the date or dates on which the principal of the Securities of the series is payable, any original issue discount that may
apply to the Securities of that series upon their issuance, the principal amount due at maturity, and the place(s) of payment;

(4)
the rate or rates at which the Securities of the series shall bear interest or the manner of calculation of such rate or
rates, if any, and whether the rate(s) are fixed or variable;

(5)
the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will be payable
or the manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date for the determination
of holders to whom interest is payable on any such Interest Payment Dates or the manner of determination of such record dates;

(6)
the right, if any, to extend the interest payment periods and the duration of such extension;

    	6

     

    

(7)
the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the
series may be redeemed, in whole or in part, at the option of the Company;

(8)
the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund, mandatory
redemption, or analogous provisions (including payments made in cash in satisfaction of future sinking fund obligations) or at
the option of a holder thereof and the period or periods within which, the price or prices at which, and the terms and conditions
upon which, Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;

(9)
the terms of the subordination of any series of subordinated debt;

(10)
the form of the Securities of the series including the form of the certificate of authentication for such series;

(11)
if other than minimum denominations of two thousand U.S. dollars ($2,000) or any integral multiple of one thousand U.S.
dollars ($1,000) in excess thereof, the minimum denominations and multiples in excess thereof in which the Securities of the series
shall be issuable;

(12)
whether the Securities are issuable as a Global Security and, in such case, the terms and the identity of the Depositary
for such series;

(13)
whether the Securities will be convertible into or exchangeable for shares of common stock or other securities of the Company
or any other Person or other securities and, if so, the terms and conditions upon which such Securities will be so convertible
or exchangeable, including the conversion or exchange price, as applicable, or how it will be calculated and may be adjusted, any
mandatory or optional (at the Company’s option or the holders’ option) conversion or exchange features, and the applicable
conversion or exchange period;

(14)
if other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall
be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.1;

(15)
any additional or different Events of Default or restrictive covenants (which may but shall not be required to include,
among other restrictions, restrictions on the Company’s ability or the ability of the Company’s Subsidiaries to: incur
additional indebtedness; issue additional securities; create liens; pay dividends or make distributions in respect of their capital
stock; redeem capital stock; in the case of such Subsidiaries, pay dividends, make distributions or transfer assets; make investments
or other restricted payments; sell or otherwise dispose of assets; enter into sale leaseback transactions; engage in transactions
with stockholders and affiliates; issue or sell stock of the Company’s Subsidiaries; or effect a consolidation or merger)
or financial covenants (which may include, among other financial covenants, financial covenants that require the Company and its
Subsidiaries to maintain specified interest coverage, fixed charge, cash flow-based, asset-based or other financial ratios) provided
for with respect to the Securities of the series;

    	7

     

    

(16)
if other than U.S. dollars, the coin or currency in which the Securities of the series are denominated (including, but not
limited to, foreign currency);

(17)
the terms and conditions, if any, upon which the Company shall pay amounts in addition to the stated interest, premium,
if any, and principal amounts of the Securities of the series to any Securityholder that is not a “United States person”
for federal tax purposes, and the terms and conditions, if any, relating to the Company’s ability to redeem such Securities
if the Company is required to pay such additional amounts;

(18)
a discussion of any material U.S. federal income tax considerations applicable to the Securities of the series;

(19)
any restrictions on transfer, sale or assignment of the Securities of the series;

(20)
the terms, if any, relating to any auction or remarketing of the Securities of the series and any security for the obligations
of the Company with respect to such Securities;

(21)
whether the Securities of the series are secured or unsecured, and if the Securities are secured, the terms of the secured
Securities;

(22)
information describing any book-entry features;

(23)
the identity of any guarantors and the terms of the guarantees; and

(24)
any and all other terms with respect to the series (which terms shall not be inconsistent with the terms of this Indenture,
as amended by any Board Resolution or supplemental indenture, but which may modify or delete any provisions of this Indenture insofar
as it applies to such series), including any terms which may be required by or advisable under the applicable laws of the U.S.
or regulations thereunder or advisable (as determined by the Company) in connection with the marketing of Securities of that series.

All Securities of any one series shall be substantially identical
except as to denomination and except as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures
supplemental hereto.

If any of the terms of the series are established by action
taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the secretary
or an assistant secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate
of the Company setting forth the terms of the series.

Securities of any particular series may be issued at various
times, with different dates on which the principal or any installment of principal is payable, with different rates of interest,
if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable
and with different redemption dates. A series may be reopened for issuances of additional Securities of such series or to establish
additional terms of such Securities.

    	8

     

    

Section
2.2 Form of Securities and Trustee’s Certificate.

The Securities of any series and the Trustee’s certificate
of authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one or more indentures
supplemental hereto or as provided in a Board Resolution, and set forth in an Officer’s Certificate, and they may have such
letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved
thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required
to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange
on which Securities of that series may be listed, or to conform to usage.

Section
2.3 Denominations; Provisions for Payment.

The Securities shall be issuable as registered Securities
and in the minimum denomination of two thousand U.S. dollars ($2,000) or any integral multiple of one thousand U.S. dollars ($1,000)
in excess thereof, subject to Section 2.1(11). The Securities of a particular series shall bear interest payable on the dates and
at the rate specified with respect to that series. The principal of and the interest on the Securities of any series, as well as
any premium thereon, shall be payable in the coin or currency of the U.S. that at the time is legal tender for public and private
debt, at the office or agency of the Company maintained for that purpose in the United States, which shall initially be an office
or agency of the Trustee. Each Security shall be dated the date of its authentication. Interest on the Securities shall be computed
on the basis of a 360-day year composed of twelve 30-day months. Presentment and surrender of the Securities is required for final
payment thereon.

The interest installment on any Security that is payable,
and is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person
in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record
date for such interest installment. In the event that any Security of a particular series or portion thereof is called for redemption
and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest
Payment Date, interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.3.

Any interest on any Security that is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted
Interest”) shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue
of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1)
or clause (2) below:

    	9

     

    

(1)
The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted
Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall
deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest
or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon
the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less
than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice
of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the
expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor
to be mailed, first class postage prepaid (or, in the case of Securities held in book-entry form, by electronic transmission),
to each Securityholder at his or her address as it appears in the Security Register (as hereinafter defined), not less than 10
days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor
having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered on such special record date.

(2)
The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with
the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by
such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner
of payment shall be deemed practicable by the Trustee.

Unless otherwise set forth in a Board Resolution or one or
more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.1 hereof, the term
 “regular record date” as used in this Section with respect to a series of Securities and any Interest Payment
Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment
Date established for such series pursuant to Section 2.1 hereof shall occur, if such Interest Payment Date is the first day of
a month, or the last day of the month immediately preceding the month in which an Interest Payment Date established for such series
pursuant to Section 2.1 hereof shall occur, if such Interest Payment Date is the fifteenth day of a month, whether or not such
date is a Business Day.

Subject to the foregoing provisions of this Section and Sections
2.5 and 2.11, each Security of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other
Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security.

Section
2.4 Execution and Authentication.

The Securities shall be signed on behalf of the Company by
an Authorized Officer and, to the extent necessary, under its corporate seal. Signatures may be in the form of a manual or facsimile
signature.

    	10

     

    

The Company may use the facsimile signature of any Person
who shall have been an Authorized Officer thereof, notwithstanding the fact that at the time the Securities shall be authenticated
and delivered or disposed of such Person shall have ceased to be such an officer of the Company. To the extent a Company seal is
necessary, the Company seal may be in the form of a facsimile of such seal and may be impressed, affixed, imprinted or otherwise
reproduced on the Securities. The Securities may contain such notations, legends or endorsements required by law, stock exchange
rule or usage. Each Security shall be dated the date of its authentication by the Trustee.

A Security shall not be valid until authenticated manually
by an authorized signatory of the Trustee. Such signature shall be conclusive evidence that the Security so authenticated has been
duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture. At any time and from
time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the
Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities,
signed by an Authorized Officer, and the Trustee in accordance with such Company Order shall authenticate and deliver such Securities.

In authenticating such Securities and accepting the additional
responsibilities under this Indenture in relation to such Securities, the Trustee shall receive, and (subject to Section 7.1) shall
be fully protected in conclusively relying upon, an Opinion of Counsel stating that the form and terms thereof have been established
in conformity with the provisions of this Indenture.

The Trustee shall not be required to authenticate such Securities
if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under
the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee.

Section
2.5 Registration of Transfer and Exchange.

(a)
Securities of any series may be exchanged upon presentation thereof at the office of the Security Registrar, for other Securities
of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a sum sufficient to cover
any tax or other governmental charge in relation thereto, all as provided in this Section. In respect of any Securities so surrendered
for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in exchange therefor
the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing
numbers not contemporaneously outstanding.

(b)
Upon surrender for transfer of any Security at the office of the Security Registrar, the Company shall execute, the Trustee
shall authenticate and the Security Registrar shall deliver in the name of the transferee or transferees a new Security or Securities
of the same series as the Security presented for a like aggregate principal amount.

All Securities presented or surrendered for exchange or registration
of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar) by a written
instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the registered
holder or by such holder’s duly authorized attorney in writing.

    	11

     

    

(c)
Except as provided pursuant to Section 2.1 pursuant to a Board Resolution, and set forth in an Officer’s Certificate,
or established in one or more indentures supplemental to this Indenture, no service charge shall be made for any exchange or registration
of transfer of Securities, or issue of new Securities in case of partial repurchase or redemption of any series, but the Company
and the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, other
than exchanges pursuant to Section 2.6, Section 3.3(b) and Section 9.4 not involving any transfer.

(d)
The Company shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning
at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities
of the same series and ending at the close of business on the day of such mailing, nor (ii) to register the transfer of or exchange
any Securities of any series or portion thereof called for redemption, other than the unredeemed portion of any such Securities
being redeemed in part.

(e)
Successive registrations and registrations of transfers and exchanges as aforesaid may be made from time to time as desired,
and each such registration shall be noted on the register for the Securities.

(f)
The Security Registrar shall provide to the Trustee such information as the Trustee may reasonably require in connection
with the delivery by such Security Registrar of Securities upon transfer or exchange of Securities.

(g)
The provisions of this Section 2.5 are, with respect to any Global Security, subject to Section 2.11 hereof.

(h)
The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including
any transfers between or among Depositary participants or beneficial owners of interests in any Global Security) other than to
require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when
expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with
the express requirements hereof.

(i)
Neither the Trustee nor any agent shall have any responsibility or liability for any actions taken or not taken by the Depositary.

Section
2.6 Temporary Securities.

Pending the preparation of definitive Securities of any series,
the Company may execute, and the Trustee shall authenticate and deliver, temporary Securities (printed, lithographed or typewritten)
of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu
of which they are issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities, all
as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated
by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities
of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon
any or all temporary Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the
office of the Security Registrar, and the Trustee shall authenticate and the Security Registrar shall deliver in exchange for such
temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the
Trustee to the effect that definitive Securities need not be executed and furnished until further notice from the Company. Until
so exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as definitive
Securities of such series authenticated and delivered hereunder.

    	12

     

    

Section
2.7 Mutilated, Destroyed, Lost or Stolen Securities.

In case any temporary or definitive Security shall become
mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon a Company
Request, the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number
not contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for
the Security so destroyed, lost or stolen. In every case, the requirements of Section 8-405 of the Uniform Commercial Code shall
be met and the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity as
may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also
furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s
Security and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the
delivery of a Company Order. Upon the issuance of any substituted Security, the Company may require the payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees
and expenses of the Trustee) connected therewith.

In case any Security that has matured or is about to mature
shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize
the payment of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment
shall furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless, and, in case
of destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of
such Security and of the ownership thereof.

Every replacement Security issued pursuant to the provisions
of this Section shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost
or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture
equally and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be
held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment
of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies,
notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of
negotiable instruments or other securities without their surrender.

    	13

     

    

Section
2.8 Cancellation.

All Securities surrendered for the purpose of payment, redemption,
exchange or registration of transfer shall, if surrendered to the Company or any Paying Agent, be delivered to the Trustee for
cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except
as expressly required or permitted by any of the provisions of this Indenture. On the delivery of a Company Order at the time of
such surrender, the Trustee shall cancel Securities held by the Trustee in accordance with its standard procedures and applicable
law and provide confirmation to the Company of such cancellation if requested by the Company. In the absence of such request, the
Trustee may dispose of canceled Securities in accordance with its standard procedures and deliver evidence of cancellation to the
Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption
or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Section
2.9 Benefits of Indenture.

Nothing in this Indenture or in the Securities, express or
implied, shall give or be construed to give to any Person, other than the parties hereto and the holders of the Securities any
legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision
herein contained; all such covenants, conditions and provisions being for the sole benefit of the parties hereto and of the holders
of the Securities.

Section
2.10 Authenticating Agent.

So long as any of the Securities of any series remain Outstanding
there may be an Authenticating Agent for any or all such series of Securities which the Trustee shall have the right to appoint.
Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued
upon exchange, transfer or partial redemption thereof, and Securities so authenticated shall be entitled to the benefits of this
Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this
Indenture to the authentication of Securities by the Trustee shall be deemed to include authentication by an Authenticating Agent
for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital
and surplus, as most recently reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized
or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to conduct such
business and is subject to supervision or examination by federal or state authorities. If at any time any Authenticating Agent
shall cease to be eligible in accordance with these provisions, it shall resign immediately.

Any Authenticating Agent may at any time resign by giving
written notice of resignation to the Trustee and to the Company. The Trustee may at any time (and upon a Company Request shall)
terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the
Company. Upon resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible
successor Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment
hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder as if originally named as an
Authenticating Agent pursuant hereto.

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Section
2.11 Global Securities.

(a)
If the Company shall establish pursuant to Section 2.1 that the Securities of a particular series are to be issued as a
Global Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.4, authenticate and deliver,
a Global Security that (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, all
of the Outstanding Securities of such series, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall
be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction and (iv) shall bear a legend substantially
to the following effect: “Except as otherwise provided in Section 2.11 of this Indenture, this Security may be transferred,
in whole but not in part, only to another nominee of the Depositary or to a successor Depositary or to a nominee of such successor
Depositary.”

(b)
Notwithstanding the provisions of Section 2.5, the Global Security of a series may be transferred, in whole but not in part
and in the manner provided in Section 2.5, only to another nominee of the Depositary for such series, or to a successor Depositary
for such series selected or approved by the Company or to a nominee of such successor Depositary. Nothing in this Section 2.11(b)
shall prohibit or render ineffective any transfer of a beneficial interest in a Global Security effected in accordance with the
other provisions of this Indenture.

(c)
If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue
as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing
under the Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed
by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, or
if an Event of Default has occurred and is continuing and the Company has received a request from the Depositary, this Section
2.11 shall no longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.4, the
Trustee will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized
denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange
for such Global Security. In addition, the Company may at any time determine that the Securities of any series shall no longer
be represented by a Global Security and that the provisions of this Section 2.11 shall no longer apply to the Securities of such
series. In such event the Company will execute and, subject to Section 2.4, the Trustee, upon receipt of an Officer’s Certificate
evidencing such determination by the Company, will authenticate and deliver the Securities of such series in definitive registered
form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global
Security of such series in exchange for such Global Security. Upon the exchange of the Global Security for such Securities in definitive
registered form without coupons, in authorized denominations, the Global Security shall be canceled by the Trustee. Such Securities
in definitive registered form issued in exchange for the Global Security pursuant to this Section 2.11(c) shall be registered in
such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants
or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Persons in whose names such Securities
are so registered.

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Section
2.12 CUSIP and ISIN Numbers.

The Company, in issuing the Securities, shall use CUSIP and
ISIN numbers for such Securities (if then generally in use). The Trustee shall use CUSIP and ISIN numbers in notices of redemption
as a convenience to holders; provided, however, that neither the Company nor the Trustee shall have any responsibility for any
defect in the CUSIP or ISIN number that appears on any Security, check, advice of payment or redemption notice, and any such notice
may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained
in any notice of redemption and that reliance may be placed only on the other identification numbers printed on the Securities,
and any such redemption shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the
Trustee in writing in the event of any change in the CUSIP or ISIN numbers.

ARTICLE
III

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

Section
3.1 Redemption.

The Company may redeem the Securities of any series issued
hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section 2.1 hereof. The
provisions of this Article III may be modified, amended or replaced, in part or in their entirety, with Securities of any series,
by an Officer’s Certificate pursuant to a Board Resolution or one or more indentures supplemental hereto, in each case in
accordance with Section 2.1 hereof.

Section
3.2 Notice of Redemption.

(a)
In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities
of any series in accordance with any right the Company reserved for itself to do so pursuant to Section 2.1 hereof, the Company
shall, or shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed
by mailing, first class postage prepaid (or, in the case of Securities held in book-entry form, by electronic transmission), a
notice of such redemption not less than 30 days and not more than 60 days (except in accordance with Articles XI and XII) before
the date fixed for redemption of that series to such holders at their last addresses as they shall appear upon the Security Register,
unless a shorter period is specified in the Securities to be redeemed. Any notice that is mailed in the manner herein provided
shall be conclusively presumed to have been duly given, whether or not the registered holder receives the notice. In any case,
failure duly to give such notice to the holder of any Security of any series designated for redemption in whole or in part, or
any defect in the notice, shall not affect the validity of the proceedings for the redemption of any other Securities of such series
or any other series. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption
provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officer’s
Certificate evidencing compliance with any such restriction.

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Each such notice of redemption shall specify the date fixed
for redemption and the redemption price at which Securities of that series are to be redeemed, and shall state that payment of
the redemption price of such Securities to be redeemed will be made at the office or agency of the Paying Agent or as otherwise
established in a Board Resolution or an indenture supplemental hereto, upon presentation and surrender of such Securities, that
interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after said date interest
will cease to accrue and that the redemption is from a sinking fund, if such is the case. If less than all the Securities of a
series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in part shall specify the particular
Securities to be so redeemed.

In case any Security is to be redeemed in part only, the
notice that relates to such Security shall state the portion of the principal amount thereof to be redeemed, and shall state that
on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount
equal to the unredeemed portion thereof will be issued.

(b)
If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 45 days’
notice (unless a shorter notice shall be satisfactory to the Trustee) in advance of the date fixed for redemption as to the aggregate
principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall select, (i) if the Securities are
in the form of Global Securities, in accordance with the procedures of the Depositary, or (ii) if the Securities are not in the
form of Global Securities, by lot, a portion or portions (equal to one thousand U.S. dollars ($1,000) or any integral multiple
thereof) of the principal amount of such Securities of a denomination larger than $2,000, the Securities to be redeemed and shall
thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole or in part. The Company
may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Authorized Officer, instruct the
Trustee or any Paying Agent to call all or any part of the Securities of a particular series for redemption and to give notice
of redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name as the Trustee
or such Paying Agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such Paying
Agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such Paying Agent, as the
case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable
the Trustee or such Paying Agent to give any notice by mail that may be required under the provisions of this Section.

Section
3.3 Payment Upon Redemption.

(a)
If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities
of the series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such
notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on such
Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall
default in the payment of such redemption price and accrued interest with respect to any such Security or portion thereof. On presentation
and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said
Securities shall be paid and redeemed at the applicable redemption price for such series, together with interest accrued thereon
to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable
on such date shall be payable to the registered holder at the close of business on the applicable record date pursuant to Section
2.3).

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(b)
Upon presentation of any Security of such series that is to be redeemed in part only, the Company shall execute and the
Trustee shall authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the
expense of the Company, a new Security of the same series of authorized denominations in principal amount equal to the unredeemed
portion of the Security so presented.

Section
3.4 Sinking Fund.

If Securities of a series provide for a sinking fund as contemplated
by Section 2.1, the provisions of this Section 3.4 and Sections 3.5 and 3.6 shall be applicable to any sinking fund for the retirement
of Securities of a series, except as otherwise specified as contemplated by Section 2.1 for Securities of such series.

The minimum amount of any sinking fund payment provided for
by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any
payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional
sinking fund payment.” If provided for by the terms of Securities of any series, the cash amount of any sinking fund
payment may be subject to reduction as provided in Section 3.5. Each sinking fund payment shall be applied to the redemption of
Securities of any series as provided for by the terms of Securities of such series.

Section
3.5 Satisfaction of Sinking Fund Payments With Securities.

The Company (i) may deliver Outstanding Securities of a series
and (ii) may apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to
the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such
series required to be made pursuant to the terms of such Securities as provided for by the terms of such series, provided that
such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee
at the redemption price specified in such Securities for redemption through operation of the sinking fund and the amount of such
sinking fund payment shall be reduced accordingly.

Section
3.6 Redemption of Securities for Sinking Fund.

Not less than 45 days prior to each sinking fund payment
date for any series of Securities (unless a shorter period shall be satisfactory to the Trustee), the Company will deliver to the
Trustee an Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant
to the terms of the series, the portion thereof, if any, that is to be satisfied by delivering and crediting Securities of that
series pursuant to Section 3.5 and the basis for such credit and will, together with such Officer’s Certificate, deliver
to the Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund payment date the Trustee
shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.2 and cause
notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section
3.2. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated
in Section 3.3.

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ARTICLE
IV

COVENANTS

Section
4.1 Payment of Principal, Premium and Interest.

The Company will duly and punctually pay or cause to be paid
the principal of (and premium, if any) and interest on the Securities of that series at the time and place and in the manner provided
herein and established with respect to such Securities. Payments of principal on the Securities may be made at the time provided
herein and established with respect to such Securities by U.S. dollar check drawn on and mailed to the address of the Securityholder
entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account
(such a wire transfer to be made only to a Securityholder of an aggregate principal amount of Securities of the applicable series
in excess of U.S. $2,000,000 and only if such Securityholder shall have furnished wire instructions to the Trustee no later than
15 days prior to the relevant payment date). Payments of interest on the Securities may be made at the time provided herein and
established with respect to such Securities by U.S. dollar check mailed to the address of the Securityholder entitled thereto as
such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account (such a wire transfer
to be made only to a Securityholder of an aggregate principal amount of Securities of the applicable series in excess of U.S. $2,000,000
and only if such Securityholder shall have furnished wire instructions in writing to the Security Registrar and the Trustee no
later than 15 days prior to the relevant payment date).

Section
4.2 Paying Agent and Security Registrar.

(a)
So long as any series of the Securities remain Outstanding, the Company shall maintain an office or agency where Securities
may be presented for registration of transfer or for exchange (“Security Registrar”), an office or agency where
Securities may be presented for payment (“Paying Agent”) and an office or agency where notices to or upon the
Company in respect of the Securities and this Indenture may be served. The Security Registrar shall keep a register for the recordation
of, and shall record, the names and addresses of holders of the Securities, the Securities held by each holder and the transfer
and exchange of Securities (the “Security Register”). The entries in the Security Register shall be conclusive,
and the parties may treat each Person whose name is recorded in the Security Register pursuant to the terms hereof as a holder
hereunder for all purposes of this Indenture. The Company may have one or more co-Security Registrars and one or more additional
Paying Agents.

The Company hereby initially designates the Trustee as Paying
Agent and Security Registrar, and the Corporate Trust Office shall be considered as one such office or agency of the Company for
each of the aforesaid purposes, such designation to continue with respect to such office or agency until the Company shall, by
written notice signed by an Authorized Officer and delivered to the Trustee, designate some other office or agency for such purposes
or any of them.

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(b)
The Company shall enter into an appropriate agency agreement with any Security Registrar, Paying Agent, or co-registrar
not a party to this Indenture, which shall incorporate the terms of the Trust Indenture Act. The agreement shall implement the
provisions of this Indenture that relate to such agent. The Company shall notify the Trustee in writing of the name and address
of any such agent. If the Company fails to maintain a Security Registrar or Paying Agent, the Trustee shall act as such and shall
be entitled to appropriate compensation therefor. The Company and any of its Subsidiaries may act as Paying Agent, Security Registrar
or co-registrar.

(c)
If the Company shall appoint one or more Paying Agents for all or any series of the Securities, other than the Trustee,
the Company will cause each such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree
with the Trustee, subject to the provisions of this Section:

(1)
that it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any) or interest
on the Securities of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities)
in trust for the benefit of the Persons entitled thereto;

(2)
that it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make
any payment of the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and
payable;

(3)
that it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon
the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and

(4)
that it will perform all other duties of Paying Agent as set forth in this Indenture.

(d)
If the Company shall act as its own Paying Agent with respect to any series of the Securities, it will on or before each
due date of the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust
for the benefit of the Persons entitled thereto a sum sufficient to pay such principal (and premium, if any) or interest so becoming
due on Securities of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and
will promptly notify the Trustee of such action, or any failure (by it or any other obligor on such Securities) to take such action.
Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, prior to each due date of the
principal of (and premium, if any) or interest on any Securities of that series, deposit with the Paying Agent a sum sufficient
to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons
entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify
the Trustee of this action or failure so to act.

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(e)
Notwithstanding anything in this Section to the contrary, the Company may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay, or direct any Paying Agent to pay, to the Trustee all
sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms and conditions
as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any Paying
Agent to the Trustee, the Company or such Paying Agent shall be released from all further liability with respect to such money.

Section
4.3 Appointment to Fill Vacancy in Office of Trustee.

The Company, whenever necessary to avoid or fill a vacancy
in the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee, so that there shall at all times be
a Trustee hereunder.

Section
4.4 Compliance With Consolidation Provisions.

The Company will not, while any of the Securities remain
Outstanding, consolidate with or merge into any other Person, in either case where the Company is not the survivor of such transaction,
or sell or convey all or substantially all of its property to any other Person unless the provisions of Article X hereof are complied
with.

ARTICLE
V

SECURITYHOLDERS’ LISTS AND REPORTS

BY THE COMPANY AND THE TRUSTEE

Section
5.1 Company to Furnish Trustee Names and Addresses of Securityholders.

The Company will furnish or cause to be furnished to the
Trustee (a) on each regular record date (as defined in Section 2.3) a list, in such form as the Trustee may reasonably require,
of the names and addresses of the holders of each series of Securities as of such regular record date, provided that the Company
shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from
the most recent list furnished to the Trustee by the Company and (b) at such other times as the Trustee may request in writing
within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than
15 days prior to the time such list is furnished; provided, however, that, in either case, no such list need be furnished for any
series for which the Trustee shall be the Security Registrar.

Section
5.2 Preservation of Information; Communications With Securityholders.

(a)
The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the
names and addresses of the Securityholders of each series of Securities and shall otherwise comply with Section 312(a) of the Trust
Indenture Act. If the Trustee is not the Security Registrar, the Company shall furnish to the Trustee at least ten (10) days before
each interest payment date with respect to any series of Securities and at such other times as the Trustee may request in writing
a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of the Securityholders
of such series of Securities, which list may be conclusively relied upon by the Trustee.

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(b)
Securityholders of any series may communicate pursuant to Section 312(b) of the Trust Indenture Act with other Securityholders
of that series or any other series with respect to their rights under this Indenture or the Securities of that series or any other
series.

(c)
The Company, the Trustee, the Security Registrar and any other Person shall have the protection of Section 312(c) of the
Trust Indenture Act.

Section
5.3 Reports by the Company.

(a)
So long as any Security is Outstanding, the Company shall furnish a copy to the Trustee, within 15 days after the Company
files the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies
of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company
files with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; provided, however, the Company shall not
be required to deliver to the Trustee any materials for which the Company has sought and received confidential treatment by the
Commission; and provided further, so long as such filings by the Company are available on the Commission’s Electronic Data
Gathering, Analysis and Retrieval System (EDGAR), such filings shall be deemed to have been furnished to the Trustee for purposes
of this Section 5.3 without any further action required by the Company. The Trustee shall have no obligation whatsoever to determine
whether or not such filings have been made.

(b)
Delivery of such reports, information and documents to the Trustee shall be for informational purposes only and the Trustee’s
receipt of such shall not constitute constructive notice of any information contained therein or determinable from information
contained therein, including the Company’s compliance with any of the covenants contained in this Indenture (as to which
the Trustee is entitled to conclusively rely upon an Officer’s Certificate).

Section
5.4 Reports by the Trustee.

(a)
The Trustee shall transmit to the Securityholders such reports concerning the Trustee and its actions under this Indenture
as may be required pursuant to the Trust Indenture Act at the time and in the manner provided pursuant thereto. If required by
Section 313(a) of the Trust Indenture Act, the Trustee shall, within 60 days after each May 15 following the date of this Indenture,
deliver to holders a brief report, dated as of such May 15, which complies with the provisions of such Section 313(a).

(b)
The Trustee shall comply with Section 313(b) and 313(c) of the Trust Indenture Act.

(c)
A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the
Company, with each securities exchange upon which any Securities are listed (if so listed) and also with the Commission. The Company
agrees to notify the Trustee when any Securities become listed on any securities exchange.

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ARTICLE
VI

REMEDIES OF THE TRUSTEE AND

SECURITYHOLDERS ON EVENT OF DEFAULT

Section
6.1 Events of Default.

(a)
Whenever used herein with respect to Securities of a particular series, unless otherwise specified in a Board Resolution
or in an indenture supplemental hereto, “Event of Default” means any one or more of the following events that
has occurred and is continuing:

(1)
the Company defaults in the payment of any installment of interest upon any of the Securities of that series, as and when
the same shall become due and payable, and such default continues for a period of 30 days; provided, however, that a valid extension
of an interest payment period by the Company in accordance with the terms of any Board Resolution or indenture supplemental hereto
shall not constitute a default in the payment of interest for this purpose;

(2)
the Company defaults in the payment of the principal of (or premium, if any, on) any of the Securities of that series as
and when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment
required by any sinking or analogous fund established with respect to that series; provided, however, that a valid extension of
the maturity of such Securities in accordance with the terms of any Board Resolution or indenture supplemental hereto shall not
constitute a default in the payment of principal or premium, if any;

(3)
the Company defaults in the performance or breach of its covenants or agreements with respect to that series contained in
this Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.1 hereof (other than a
covenant or agreement that has been expressly included in this Indenture solely for the benefit of one or more series of Securities
other than such series) for a period of 90 consecutive days after the date on which written notice of such failure, requiring the
same to be remedied and stating that such notice is a “Notice of Default” hereunder, shall have been given to
the Company by the Trustee, by registered or certified mail, or to the Company and the Trustee by the holders of at least 25% in
principal amount of the Securities of that series at the time Outstanding;

(4)
the Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the
entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all
or substantially all of its property or (iv) makes a general assignment for the benefit of its creditors;

(5)
a court of competent jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against the Company in
an involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property or (iii) orders the
liquidation of the Company, and the order or decree remains unstayed and in effect for 60 consecutive days; or

    	23

     

    

(6)
certain other specified events, as may be provided for in a Board Resolution or in a supplemental indenture.

(b)
In each and every such case (other than an Event of Default specified in clause (4) or clause (5) above), unless the principal
of all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less than
25% in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company
(and to the Trustee if given by such Securityholders), may, and the Trustee at the request of the holders of not less than 25%
in aggregate principal amount of the Securities of that series then outstanding hereunder shall, declare the principal of (and
premium, if any, on) and accrued and unpaid interest on all the Securities of that series to be due and payable immediately, and
upon any such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in clause
(4) or clause (5) above occurs, the principal of and accrued and unpaid interest on all the Securities of that series shall automatically
be immediately due and payable without any declaration or other act on the part of the Trustee or the holders of the Securities.

(c)
At any time after the principal of (and premium, if any, on) and accrued and unpaid interest on the Securities of that series
shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been
obtained or entered as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities of that
series then Outstanding hereunder, by written notice to the Company and the Trustee, may rescind and annul such declaration and
its consequences if: (i) the Company has paid or deposited with the Trustee a sum sufficient to pay all matured installments of
interest upon all the Securities of that series and the principal of (and premium, if any, on) any and all Securities of that series
that shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any, and, to the extent
that such payment is enforceable under applicable law, upon overdue installments of interest, at the rate per annum expressed in
the Securities of that series to the date of such payment or deposit) and the amount payable to the Trustee under Section 7.6,
and (ii) any and all Events of Default under this Indenture with respect to such series, other than the nonpayment of principal
of (and premium, if any, on) and accrued and unpaid interest on Securities of that series that shall not have become due by their
terms, shall have been remedied or waived as provided in Section 6.6.

No such rescission and annulment shall extend to or shall
affect any subsequent default or impair any right consequent thereon.

(d)
In case the Trustee shall have proceeded to enforce any right with respect to Securities of that series under this Indenture
and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason
or shall have been determined adversely to the Trustee, then and in every such case, subject to any determination in such proceedings,
the Company and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies
and powers of the Company and the Trustee shall continue as though no such proceedings had been taken.

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Section
6.2 Collection of Indebtedness and Suits for Enforcement by Trustee.

(a)
The Company covenants that (i) in case it shall default in the payment of any installment of interest on any of the Securities
of a series, and such default shall have continued for a period of 30 days, or (ii) in case it shall default in the payment of
the principal of (or premium, if any, on) any of the Securities of a series when the same shall have become due and payable, whether
upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise, or in any payment required by
any sinking or analogous fund established with respect to that series as and when the same shall have become due and payable, then,
upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Securities of that series,
the whole amount that then shall have been become due and payable on all such Securities for principal (and premium, if any) or
interest, or both, as the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent that payment
of such interest is enforceable under applicable law) upon overdue installments of interest at the rate per annum expressed in
the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses
of collection, and the amount payable to the Trustee under Section 7.6.

(b)
If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of
an express trust, shall be entitled and empowered to institute any action or proceeding at law or in equity for the collection
of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any
such judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged
or decreed to be payable in the manner provided by law or equity out of the property of the Company or other obligor upon the Securities
of that series, wherever situated.

(c)
In case of any receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement, composition
or judicial proceedings affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such
proceedings and take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law)
be entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims
of the Trustee and of the holders of Securities of such series allowed for the entire amount due and payable by the Company under
this Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by
the Company after such date, and to collect and receive any moneys or other property payable or deliverable on any such claim,
and to distribute the same after the deduction of the amount payable to the Trustee under Section 7.6; and any receiver, assignee
or trustee in bankruptcy or reorganization is hereby authorized by each of the holders of Securities of such series to make such
payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to such Securityholders,
to pay to the Trustee any amount due it under Section 7.6.

(d)
All rights of action and of asserting claims under this Indenture, or under any of the terms established with respect to
Securities of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof
at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee shall be brought in
its own name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of
any amounts due under Section 7.6, be for the ratable benefit of the holders of the Securities of such series.

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In case of an Event of Default hereunder, the Trustee may
in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings
as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy
or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise
of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture
or by law.

Nothing contained herein shall be deemed to authorize the
Trustee to authorize or consent to or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee
to vote in respect of the claim of any Securityholder in any such proceeding.

Section
6.3 Application of Moneys Collected.

Any moneys collected by the Trustee pursuant to this Article
VI with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation
of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully
paid:

FIRST: To the payment of reasonable costs
and expenses of collection and of all amounts payable to the Trustee under Section 7.6;

SECOND: To the payment to holders of
Securities of the amounts then due and unpaid upon Securities of such series for principal (and premium, if any), amounts payable
upon redemption or repurchase of the Securities, and interest, in respect of which or for the benefit of which such money has been
collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for
principal (and premium, if any) and interest, respectively; and

THIRD: To the payment of the remainder,
if any, to the Company or any other Person lawfully entitled thereto.

The Trustee may fix a record date and payment date for any
payment to holders pursuant to this Section 6.3. At least 15 days before such record date, the Company shall mail to each holder
and the Trustee a notice that states the record date, the payment date and the amount to be paid.

Section
6.4 Limitation on Suits.

No holder of any Security of any series shall have any right
by virtue or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law upon
or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder,
unless (i) such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance
thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders
of not less than 25% in aggregate principal amount of the Securities of such series then Outstanding shall have made written request
upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder; (iii) such holder or holders
shall have offered to the Trustee such indemnity reasonably satisfactory to it against the costs, losses, expenses and liabilities
to be incurred therein or thereby; (iv) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity,
shall have failed to institute any such action, suit or proceeding and (v) during such 60 day period, the holders of a majority
in principal amount of the Securities of that series do not give the Trustee a direction inconsistent with the request.

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Notwithstanding anything contained herein to the contrary
or any other provisions of this Indenture, the right of any holder of any Security to receive payment of the principal of (and
premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security
(or in the case of redemption, on the redemption date), or to institute suit for the enforcement of any such payment on or after
such respective dates or redemption date, shall not be impaired or affected without the consent of such holder and by accepting
a Security hereunder it is expressly understood, intended and covenanted by the taker and holder of every Security of such series
with every other such taker and holder and the Trustee, that no one or more holders of Securities of such series shall have any
right in any manner whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the
rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over or preference to any other
such holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and
common benefit of all holders of Securities of such series (it being understood that the Trustee does not have an affirmative duty
to ascertain whether or not such actions or forbearances are unduly prejudicial to such holders). For the protection and enforcement
of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given
either at law or in equity.

Section
6.5 Rights and Remedies Cumulative; Delay or Omission Not Waiver.

(a)
Except as otherwise provided in Section 2.7, all powers and remedies given by this Article VI to the Trustee or to the Securityholders
shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the
Trustee or the holders of the Securities, by judicial proceedings or otherwise, to enforce the performance or observance of the
covenants and agreements contained in this Indenture or otherwise established with respect to such Securities.

(b)
No delay or omission of the Trustee or of any holder of any of the Securities to exercise any right or power accruing upon
any Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a
waiver of any such default or an acquiescence therein; and, subject to the provisions of Section 6.4, every power and remedy given
by this Article VI or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be
deemed expedient, by the Trustee or by the Securityholders.

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Section
6.6 Control by Securityholders.

The holders of a majority in aggregate principal amount of
the Securities of any series at the time Outstanding, determined in accordance with Section 8.4, shall have the right to direct
the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power
conferred on the Trustee with respect to such series; provided, however, that such direction shall not be in conflict with any
rule of law or with this Indenture. Subject to the provisions of Section 7.1, the Trustee shall have the right to decline to follow
any such direction if the Trustee in good faith shall, by a Trust Officer or officers of the Trustee, determine that the proceeding
so directed, subject to the Trustee’s duties under the Trust Indenture Act, would involve the Trustee in personal liability
or might be unduly prejudicial to the Securityholders not involved in the proceeding. The holders of a majority in aggregate principal
amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance with Section 8.4, may
on behalf of the holders of all of the Securities of such series waive any past default in the performance of any of the covenants
contained herein or established pursuant to Section 2.1 with respect to such series and its consequences, except a default in the
payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as and when the same shall
become due by the terms of such Securities otherwise than by acceleration (unless such default has been cured and a sum sufficient
to pay all matured installments of interest and principal and any premium has been deposited with the Trustee (in accordance with
Section 6.1(c)), which requires the consent of each holder affected by such waiver. Upon any such waiver, the default covered thereby
shall be deemed to be cured for all purposes of this Indenture and the Company, the Trustee and the holders of the Securities of
such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to
any subsequent or other default or impair any right consequent thereon.

Section
6.7 Undertaking to Pay Costs.

All parties to this Indenture agree, and each holder of any
Securities by such holder’s acceptance thereof shall be deemed to have agreed, that any court may in its discretion require,
in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action
taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit,
and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party
litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but
the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder,
or group of Securityholders, holding more than 10% in aggregate principal amount of the Outstanding Securities of any series, or
to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest
on any Security of such series, on or after the respective due dates expressed in such Security or established pursuant to this
Indenture.

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ARTICLE
VII

CONCERNING THE TRUSTEE

Section
7.1 Certain Duties and Responsibilities of Trustee.

(a)
The Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing
of all Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with
respect to the Securities of such series such duties and only such duties as are specifically set forth in this Indenture, and
no implied covenants shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities
of a series has occurred (that has not been cured or waived), the Trustee shall exercise with respect to Securities of that series
such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a
prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. Except during the continuance
of an Event of Default with respect to the Securities of a series, in the absence of bad faith on its part, the Trustee may with
respect to the Securities of such series conclusively rely, as to the truth of the statements and the correctness of the opinions
expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture;
but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to
the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements
of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).

(b)
No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its
own negligent failure to act, or its own willful misconduct, except that:

(i)
this subsection (b) shall not be construed to limit the effect of subsection (a) of this Section;

(ii)
the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer or Trust Officers of the
Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts;

(iii)
the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance
with the direction of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding
relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any
trust or power conferred upon the Trustee under this Indenture with respect to the Securities of that series; and

(iv)
None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers if
there is reasonable ground for believing that the repayment of such funds or liability is not reasonably assured to it under the
terms of this Indenture or adequate indemnity against such risk is not reasonably assured to it.

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(c)
Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the
liability of or affording protection to the Trustee shall be subject to the provisions of this Section.

Section
7.2 Certain Rights of Trustee.

Except as otherwise provided in Section 7.1:

(a)
The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security or other paper or
document believed by it to be genuine and to have been signed or presented by the proper party or parties;

(b)
Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Board Resolution
or an instrument signed in the name of the Company by any authorized officer of the Company (unless other evidence in respect thereof
is specifically prescribed herein);

(c)
The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon;

(d)
The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request,
order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall
have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs, losses, expenses and liabilities
that may be incurred therein or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the
occurrence of an Event of Default with respect to a series of the Securities (that has not been cured or waived), to exercise with
respect to Securities of that series such of the rights and powers vested in it by this Indenture, and to use the same degree of
care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her
own affairs;

(e)
The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to be
authorized or within the discretion or rights or powers conferred upon it by this Indenture;

(f)
The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents,
unless requested in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities
of the particular series affected thereby (determined as provided in Section 8.4),

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and, if so requested, except as otherwise prohibited by applicable
law or as would reasonably be expected to violate or result in the loss or impairment of any attorney-client or work product privilege,
the Trustee shall be entitled to examine the books, records, and premises of the Company, personally or by agent, or attorney,
and it shall incur no liability or additional liability of any kind by reason of such inquiry or investigation; provided, however,
that the Company shall not be required to provide access or furnish information in the event of any litigation involving this Indenture
or the Securities except pursuant to applicable rules of discovery; and provided, further, that if the payment within a reasonable
time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in
the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture,
the Trustee may require reasonable indemnity against such costs, expenses or liabilities as a condition to so proceeding. The reasonable
expense of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon
demand;

(g)
The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through
agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney
appointed with due care by it hereunder;

(h)
In no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of
any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the
likelihood of such loss or damage and regardless of the form of action;

(i)
The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Trust Officer has actual knowledge
thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust
Office of the Trustee, and such notice references the Securities and this Indenture;

(j)
The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right
to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent,
custodian and other Person employed to act hereunder;

(k)
The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder;

(l)
The Trustee shall not be liable for the acts or omissions of any other agent of the Company, and may assume performance
by any such agent of its duties, absent written notice or actual knowledge to the contrary; and

(m)
The permissive right of the Trustee to take the actions permitted by this Indenture shall not be construed as an obligation
or duty to do so.

Section
7.3 Trustee Not Responsible for Recitals or Issuance or Securities.

(a)
The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes
no responsibility for the correctness of the same.

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(b)
The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities.

(c)
The Trustee shall not be accountable for the use or application by the Company of any of the Securities or of the proceeds
of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this
Indenture or established pursuant to Section 2.1, or for the use or application of any moneys received by any Paying Agent other
than the Trustee.

Section
7.4 May Hold Securities and Otherwise Deal With the Company.

Subject to the Trust Indenture Act, the Trustee, the Security
Registrar, any Paying Agent or any other agent of the Company, in its individual or any other capacity, may buy, own, hold, sell
and become the pledgee of any of the Securities or any other evidences of indebtedness or other securities, whether heretofore
or hereafter created or issued, of the Company or any Subsidiary or Affiliate of the Company with the same rights it would have
if it were not Trustee, Security Registrar, Paying Agent or such other agent; and the Trustee may engage or be interested in any
financial or other transaction with the Company or any Subsidiary or Affiliate of the Company, including, without limitation, secured
and unsecured loans to the Company or any Subsidiary or Affiliate of the Company; and may maintain any and all other general banking
and business relations with the Company and any Subsidiary or Affiliate of the Company with like effect and in the same manner
and to the same extent as if the Trustee were not a party to this Indenture; and no implied covenant shall be read into this Indenture
against the Trustee in respect of any such matters.

Section
7.5 Moneys Held in Trust.

Subject to the provisions of Sections 11.2, 12.5, 12.6 and
12.7, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for
which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be
under no liability for interest on any moneys received by it hereunder except such as it may agree with the Company to pay thereon.

Section
7.6 Compensation and Reimbursement.

(a)
The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such compensation (which shall
not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as the Company and the Trustee
may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and in the
exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided
herein, the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances
incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation
and the expenses and disbursements of its counsel and of all Persons not regularly in its employ), except any such expense, disbursement
or advance as may arise from its negligence or willful misconduct and except as the Company and Trustee may from time to time agree
in writing. The Company also covenants to indemnify the Trustee (and its officers, agents, directors and employees) for, and to
hold it harmless against, any loss, costs, damages, liability or expense incurred without negligence or willful misconduct on the
part of the Trustee (as determined by a court of competent jurisdiction in a final and non-appealable judgment) and arising out
of or in connection with the acceptance or administration of this trust, including the reasonable costs and expenses of defending
itself against any claim of liability in the premises.

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(b)
To secure the Company’s payment obligations in this Section 7.6, the Trustee shall have a lien prior to the Securities
of any series on all money or property held or collected by the Trustee, except that held in trust to pay principal of and interest
on particular Securities of such series.

When the Trustee incurs expenses or renders services after
an Event of Default specified in Section 6.1(a)(4) or 6.1(a)(5) occurs, the expenses and the compensation for the services are
intended to constitute expenses of administration under any Bankruptcy Law.

The provisions of this Section 7.6 shall survive the resignation
or removal of the Trustee and the termination or satisfaction of this Indenture.

Section
7.7 Reliance on Officer’s Certificate.

Except as otherwise provided in Section 7.1, whenever in
the administration of the provisions of this Indenture the Trustee shall deem it reasonably necessary or desirable that a matter
be proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence
in respect thereof be herein specifically prescribed) may, in the absence of negligence or willful misconduct on the part of the
Trustee, be deemed to be conclusively proved and established by an Officer’s Certificate delivered to the Trustee and such
certificate, in the absence of negligence or willful misconduct on the part of the Trustee, shall be full warrant to the Trustee
for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof.

Section
7.8 Disqualification; Conflicting Interests.

If the Trustee has or shall acquire any “conflicting
interest” within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and the Company shall in all respects
comply with the provisions of Section 310(b) of the Trust Indenture Act.

Section
7.9 Corporate Trustee Required; Eligibility.

There shall at all times be a Trustee with respect to the
Securities issued hereunder which shall at all times be a corporation organized and doing business under the laws of the U.S. or
any state or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by
the Commission, authorized under such laws to exercise corporate trust powers, having (or, in the case of a subsidiary of a bank
holding company, its bank holding company parent shall have) a combined capital and surplus of at least one hundred million U.S.
dollars ($100,000,000), and subject to supervision or examination by federal, state, territorial, or District of Columbia authority.

    	33

     

    

If such corporation or other Person publishes reports of
condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for
the purposes of this Section, the combined capital and surplus of such corporation or other Person shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. The Company may not, nor may any Person directly
or indirectly controlling, controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee
shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner
and with the effect specified in Section 7.10.

Section
7.10 Resignation and Removal; Appointment of Successor.

(a)
The Trustee or any successor hereafter appointed may at any time resign with respect to the Securities of one or more series
by giving written notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid
(or, in the case of Securities held in book-entry form, by electronic transmission), to the Securityholders of such series, as
their names and addresses appear upon the Security Register. Upon receiving such notice of resignation, the Company shall promptly
appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate, executed by order of
the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor
trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of
such notice of resignation, the resigning Trustee may at the expense of the Company, petition any court of competent jurisdiction
for the appointment of a successor trustee with respect to Securities of such series, or the holders of at least 10% in the aggregate
principal amount of Outstanding Securities may petition any such court for the appointment of a successor trustee. Such court may
thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.

(b)
In case at any time any one of the following shall occur:

(i)
the Trustee shall fail to comply with the provisions of Section 7.8 after written request therefor by the Company or by
any Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or

(ii)
the Trustee shall cease to be eligible in accordance with the provisions of Section 7.9 and shall fail to resign after written
request therefor by the Company or by any such Securityholder; or

(iii)
the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy
proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take
charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation;

then, in any such case, the Company may remove the Trustee
with respect to all Securities and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board
of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee,
or any Securityholder who has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that
holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment
of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee
and appoint a successor trustee.

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(c)
The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding may, upon
30 days’ notice, remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint
a successor Trustee for such series with the consent of the Company.

(d)
Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series
pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee
as provided in Section 7.11.

(e)
Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more
series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular
series.

Section
7.11 Acceptance of Appointment by Successor.

(a)
In case of the appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee
so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment,
and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but,
on the request of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver
an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly
assign, transfer and deliver to such successor trustee all property and money held by such retiring Trustee hereunder.

(b)
In case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all)
series, the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall
execute and deliver an indenture supplemental hereto wherein each successor trustee shall accept such appointment and which (i)
shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which
the appointment of such successor trustee relates, (ii) shall contain such provisions as shall be deemed necessary or desirable
to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those
series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii) shall add
to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the
trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute
such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and
apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible for any
act or failure to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture
the resignation or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee
shall with respect to the Securities of that or those series to which the appointment of such successor trustee relates have no
further responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested in the
Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become vested
with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to
which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring
Trustee shall duly assign, transfer and deliver to such successor trustee, to the extent contemplated by such supplemental indenture,
the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which
the appointment of such successor trustee relates.

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(c)
Upon request of any such successor trustee, the Company shall execute any and all instruments for more fully and certainly
vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this
Section, as the case may be.

(d)
No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be
qualified and eligible under this Article VII.

(e)
Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall transmit notice of
the succession of such trustee hereunder by mail, first class postage prepaid, to the Securityholders, as their names and addresses
appear upon the Security Register. If the Company fails to transmit such notice within ten days after acceptance of appointment
by the successor trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company.

Section
7.12 Merger, Conversion, Consolidation or Succession to Business.

Any corporation into which the Trustee may be merged or converted
or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee
shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee (including
the administration of the trust created by this Indenture), shall be the successor of the Trustee hereunder, provided that such
corporation shall be qualified under the provisions of Section 7.8 and eligible under the provisions of Section 7.9, without the
execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.
In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated
with the same effect as if such successor Trustee had itself authenticated such Securities.

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Section
7.13 Preferential Collection of Claims Against the Company.

The Trustee shall comply with Section 311(a) of the Trust
Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned
or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein.

Section
7.14 Notice of Default.

If any Default or any Event of Default occurs and is continuing
and if the Trustee has notice of such Default or Event of Default, the Trustee shall mail to each Securityholder in the manner
and to the extent provided in Section 313(c) of the Trust Indenture Act notice of the Default or Event of Default within 90 days
after it occurs (or, the Trustee does not have notice of such Default or Event of Default until after that time, 15 days after
the Trustee has notice of such Default or Event of Default), unless such Default or Event of Default has been cured; provided,
however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on any Security,
the Trustee shall be protected in withholding such notice if and so long as the Trustee in good faith determines that the withholding
of such notice is in the interest of the Securityholders.

Section
7.15 Limitation of Liability.

The Trustee is entering into this Indenture and the other
documents contemplated hereby and related hereto to which it is a party solely in its capacity as trustee under the Indenture and
not in its individual capacity (except as expressly stated herein) and in no case shall the Trustee (or any Person acting as successor
trustee under this Indenture) be personally liable for or on account of any of the statements, representations, warranties, covenants
or obligations stated to be those of the Company hereunder or thereunder, all such liability, if any, being expressly waived by
the parties hereto and any person claiming by, through or under such party.

ARTICLE
VIII

CONCERNING THE SECURITYHOLDERS

Section
8.1 Evidence of Action by Securityholders.

Whenever in this Indenture it is provided that the holders
of a majority or specified percentage in aggregate principal amount of the Securities of a particular series may take any action
(including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action),
the fact that at the time of taking any such action the holders of such majority or specified percentage of that series have joined
therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities
of that series in person or by agent or proxy appointed in writing.

If the Company shall solicit from the Securityholders of
any series any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option,
as evidenced by an Officer’s Certificate, fix in advance a record date for such series for the determination of Securityholders
entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall
have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver
or other action may be given before or after the record date, but only the Securityholders of record at the close of business on
the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite
proportion of Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed
as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record
date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six
months after the record date.

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Section
8.2 Proof of Execution by Securityholders.

Subject to the provisions of Section 7.1, proof of the execution
of any instrument by a Securityholder (such proof will not require notarization) or his agent or proxy and proof of the holding
by any Person of any of the Securities shall be sufficient if made in the following manner:

(a)
The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable
to the Trustee.

(b)
The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security
Registrar thereof.

The Trustee may require such additional proof of any matter
referred to in this Section as it shall deem necessary.

Section
8.3 Who May Be Deemed Owners.

Prior to the due presentment for registration of transfer
of any Security, the Company, the Trustee, any Paying Agent and any Security Registrar may deem and treat the Person in whose name
such Security shall be registered upon the books of the Security Registrar as the absolute owner of such Security (whether or not
such Security shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security
Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section
2.3) interest on such Security and for all other purposes; and neither the Company nor the Trustee nor any Paying Agent nor any
Security Registrar shall be affected by any notice to the contrary.

Section
8.4 Certain Securities Owned by Company Disregarded.

In determining whether the holders of the requisite aggregate
principal amount of Securities of a particular series have concurred in any direction, consent or waiver under this Indenture,
the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person
directly or indirectly controlling or controlled by or under common control with the Company or any other obligor on the Securities
of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for
the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities
of such series that the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged
in good faith may be regarded as Outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction
of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not a Person directly
or indirectly controlling or controlled by or under direct or indirect common control with the Company or any such other obligor.
In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to
the Trustee.

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Section
8.5 Actions Binding on Future Securityholders.

At any time prior to (but not after) the evidencing to the
Trustee, as provided in Section 8.1, of the taking of any action by the holders of the majority or percentage in aggregate principal
amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security
of that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action
may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.2, revoke such action so far
as concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding
upon such holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration
of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security.
Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series
specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the
holders of all the Securities of that series.

ARTICLE
IX

SUPPLEMENTAL INDENTURES

Section
9.1 Supplemental Indentures Without the Consent of Securityholders.

In addition to any supplemental indenture otherwise authorized
by this Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental
hereto (which shall comply with the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders,
for one or more of the following purposes:

(a)
to cure any ambiguity, defect, omission or inconsistency herein or in the Securities of any series (with such ambiguity,
defect, omission or inconsistency being evidenced by an Officer’s Certificate);

(b)
to comply with Article X, including to evidence the succession of another Person to the Company and the assumption by any
such successor of the covenants of the Company herein and in the Securities contained or to provide for the assumption of a guarantor’s
obligations to holders of the Securities in the case of a merger or consolidation or sale of all or substantially all of the guarantor’s
assets;

    	39

     

    

(c)
to provide for uncertificated Securities in addition to or in place of certificated Securities; provided that the uncertificated
Securities are issued in registered form for purposes of Section 163(f) of the Code;

(d)
to add to the covenants of the Company or any guarantor for the benefit of the holders of the Securities of any series or
to surrender any right or power conferred upon the Company or any guarantor;

(e)
to provide for the issuance of additional Securities of any series in accordance with the terms of this Indenture;

(f)
to evidence and provide for the acceptance of appointment hereunder by a successor trustee;

(g)
to comply with any requirements of the Commission or any successor in connection with the qualification of this Indenture
under the Trust Indenture Act;

(h)
to provide security for the Securities of any series or to provide for any guarantee of the Securities of any series or
to confirm or evidence the release, termination or discharge of any guarantee of or lien securing the Securities of any series
when such release, termination or discharge is permitted by this Indenture;

(i)
to make any change that would provide any additional rights or benefits to the holders of the Securities of any series or
that does not adversely affect the legal rights under this Indenture of any holder;

(j)
to make any amendment to the provision of this Indenture relating to the transfer and legending of the Securities of any
series; provided, however, that (1) compliance with this Indenture as so amended would not result in Securities of such series
being transferred in violation of the Securities Act or any other applicable securities law and (2) such amendment does not materially
and adversely affect the rights of holders to transfer Securities of such series; or

(k)
to conform the text of this Indenture, any guarantee of the Securities of any series or the notes to any provision of the
 “Description of Debt Securities and Guarantees” included in the prospectus forming a part of the registration
statement filed by the Company with the Commission on Form S-3 on [•] or any subsequent description of Securities contained
in any prospectus supplement, to the extent that such provision in that “Description of Debt Securities and Guarantees”
or any subsequent description of Securities contained in any prospectus supplement was intended by the Company to be a verbatim
recitation of a provision of this Indenture, any guarantee of the Securities of any series or the Securities, as applicable (with
such intention being evidenced by an Officer’s Certificate).

The Trustee is hereby authorized to join with the Company
in the execution of any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be
therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise.

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Any supplemental indenture authorized by the provisions of
this Section may be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the
time Outstanding, notwithstanding any of the provisions of Section 9.2.

Section
9.2 Supplemental Indentures With the Consent of Securityholders.

With the consent (evidenced as provided in Section 8.1) of
the holders of not less than a majority in aggregate principal amount of the Securities of each series affected by such supplemental
indenture or indentures at the time Outstanding (including consents obtained in connection with a tender offer or exchange offer
for the Securities), the Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time
enter into an indenture or indentures supplemental hereto (which shall comply with the provisions of the Trust Indenture Act as
then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating (or waiving any past default
or compliance with) any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner not
covered by Section 9.1 the rights of the holders of the Securities of such series under this Indenture; provided, however, that
no such supplemental indenture shall, without the consent of the holders of each Security then Outstanding and affected thereby,

(a)
reduce the percentage or aggregate principal amount of Securities, the holders of which are required to consent to any modification,
amendment, supplement or waiver;

(b)
reduce the principal amount of, or premium, if any, or rate of interest on, such Securities;

(c)
extend the fixed maturity of such Securities;

(d)
extend the time for payment of interest on such Securities;

(e)
reduce the redemption or repurchase price of such Securities or change the time at which the Securities may or must be redeemed
or repurchased;

(f)
change the currency of payment of principal of, or premium, if any, or interest on, such Securities;

(g)
waive a default in the payment of principal of, premium, if any, or interest on such Securities (except as provided in Section
6.1(c));

(h)
voluntarily release a guarantor of such Securities other than in accordance with this Indenture;

(i)
reduce the percentage or aggregate principal amount of Outstanding Securities the consent of whose holders is necessary
for waiver of compliance with certain provisions of this Indenture or for waiver of certain defaults; or

(j)
impair the right to institute suit for the enforcement of any payment on or after the stated maturity (or, in the case of
a redemption, on or after the redemption date) of such Securities.

    	41

     

    

It shall not be necessary for the consent of the Securityholders
of any series affected thereby under this Section to approve the particular form of any proposed supplemental indenture, but it
shall be sufficient if such consent shall approve the substance thereof.

Section
9.3 Effect of Supplemental Indentures.

Upon the execution of any supplemental indenture pursuant
to the provisions of this Article IX or of Section 10.1, this Indenture shall, with respect to such series, be and be deemed to
be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities
under this Indenture of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter
be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms
and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture
for any and all purposes.

Section
9.4 Securities Affected by Supplemental Indentures.

Securities of any series affected by a supplemental indenture,
authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article IX or
of Section 10.1, may bear a notation in form approved by the Company, provided such form meets the requirements of any securities
exchange upon which such series may be listed, as to any matter provided for in such supplemental indenture. If the Company shall
so determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors, to any modification
of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and
delivered in exchange for the Securities of that series then Outstanding.

Section
9.5 Execution of Supplemental Indentures.

Upon the request of the Company, accompanied by its Board
Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the
consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of
such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under
this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such supplemental
indenture. The Trustee shall receive, in addition to the documents required by Section 14.7(a), an Officer’s Certificate
and an Opinion of Counsel stating that and as conclusive evidence that any supplemental indenture executed pursuant to this Article
IX is authorized or permitted by, and conforms to, the terms of this Article IX, constitutes the legal, valid and binding obligation
of the Company, enforceable against it in accordance with its terms (subject to customary exceptions) and that it is proper for
the Trustee under the provisions of this Article IX to join in the execution thereof.

Promptly after the execution by the Company and the Trustee
of any supplemental indenture pursuant to the provisions of this Section, the Company shall transmit by mail, first class postage
prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all series
affected thereby as their names and addresses appear upon the Security Register. Any failure of the Company to mail such notice,
or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.

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ARTICLE
X

SUCCESSOR ENTITY

Section
10.1 Company May Consolidate, Etc.

Except as provided pursuant to Section 2.1 pursuant to a
Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental to this
Indenture, nothing contained in this Indenture shall prevent any consolidation or merger of the Company with or into any other
Person (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or its successor
or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property
of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other corporation (whether
or not affiliated with the Company or its successor or successors) authorized to acquire and operate the same; provided, however,
the Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if the Company is not the survivor
of such transaction), sale, conveyance, transfer or other disposition, (a) the due and punctual payment of the principal of (premium,
if any) and interest on all of the Securities of all series in accordance with the terms of each series, according to their tenor,
and the due and punctual performance and observance of all the covenants and conditions of this Indenture with respect to each
series or established with respect to such series pursuant to Section 2.1 to be kept or performed by the Company shall be expressly
assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) executed
and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by
the entity which shall have acquired such property and (b) in the event that the Securities of any series then Outstanding are
convertible into or exchangeable for shares of common stock or other securities of the Company, such entity shall, by such supplemental
indenture, make provision so that the Securityholders of Securities of that series shall thereafter be entitled to receive upon
conversion or exchange of such Securities the number of securities or property to which a holder of the number of shares of common
stock or other securities of the Company deliverable upon conversion or exchange of those Securities would have been entitled had
such conversion or exchange occurred immediately prior to such consolidation, merger, sale, conveyance, transfer or other disposition.

Section
10.2 Successor Entity Substituted.

(a)
In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the
successor entity by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee of the
obligations set forth under Section 10.1 on all of the Securities of all series Outstanding, such successor entity shall succeed
to and be substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor
corporation shall be relieved of all obligations and covenants under this Indenture and the Securities.

    	43

     

    

(b)
In case of any such consolidation, merger, sale, conveyance, transfer or other disposition, such changes in phraseology
and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate.

(c)
Nothing contained in this Article X shall require any action by the Company in the case of a consolidation or merger of
any Person into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase
or otherwise, of all or any part of the property of any other Person (whether or not affiliated with the Company).

Section
10.3 Evidence of Consolidation, Etc. to Trustee.

The Trustee, subject to the provisions of Section 7.1, shall
receive an Officer’s Certificate and an Opinion of Counsel stating that and as conclusive evidence that any such consolidation,
merger, sale, conveyance, transfer or other disposition, and any such assumption, comply with the provisions of this Article X.

ARTICLE
XI

SATISFACTION AND DISCHARGE

Section
11.1 Satisfaction and Discharge of Indenture.

This Indenture shall upon Company Request cease to be of
further effect with respect to any series of Securities (except as to any surviving rights of registration of transfer or exchange
of Securities of such series herein expressly provided for or in the form of Security for such series and any right to receive
additional amounts), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction
and discharge of this Indenture as to such series, when

(a)
either

(i)
all Securities of such series theretofore authenticated and delivered (other than (i) Securities which have been destroyed,
lost or stolen and which have been replaced or paid as provided in Section 2.7 and (ii) Securities for whose payment cash, Governmental
Obligations or a combination thereof has theretofore been deposited in trust or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust, as provided in Sections 12.5 and 12.6) have been delivered to the
Trustee for cancellation; or

(ii)
all such Securities of such series not theretofore delivered to the Trustee for cancellation, or

(A)
have become due and payable by reason of the mailing of a notice of redemption or otherwise, or

(B)
will become due and payable within one year,

    	44

     

    

and the Company, in the case of (A) or (B) above, has deposited
or caused to be deposited with the Trustee as trust funds in trust specifically pledged as security for, and dedicated solely to,
the benefit of the Securityholders of the Securities of that series, cash in U.S. dollars, Governmental Obligations or a combination
thereof in such amount as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire
indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal (and premium, if any)
and interest, if any, to the date of such deposit (in the case of Securities which have become due and payable), or to the Stated
Maturity or the Redemption Date, as the case may be;

(b)
in respect of clause (a)(ii), no Event of Default has occurred and is continuing on the date of deposit (other than an Event
of Default resulting from the borrowing of funds to be applied to such deposit and any similar deposit relating to other indebtedness
and, in each case, the granting of certain liens to secure such borrowing);

(c)
the Company or any guarantor has paid or caused to be paid all other sums payable hereunder by the Company with respect
to such series; and

(d)
the Company has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money towards
the payment of the notes at maturity or on the redemption date, as the case may be.

Notwithstanding the satisfaction and discharge of this Indenture
with respect to such series, the obligations of the Company to the Trustee with respect to such series under this Section 11.1
and Sections 7.6 and 7.10, the obligations of the Company to any Authenticating Agent under Section 2.10, and, if cash, Governmental
Obligations or a combination thereof shall have been deposited with the Trustee pursuant to subclause (ii) of clause (a) of this
Section, the obligations of the Trustee under Section 11.2, shall survive.

Section
11.2 Application of Trust Money.

Subject to the provisions of Section 12.6, all cash and Governmental
Obligations deposited with the Trustee pursuant to Section 11.1 shall be held in trust and applied by the Trustee, in accordance
with the provisions of the series of Securities and this Indenture, to the payment, either directly or through any Paying Agent
(including the Company or any of its Subsidiaries acting as Paying Agent) as the Trustee may determine, to the Persons entitled
thereto, of all sums due and to become due thereon in respect of the principal of (and premium, if any) and interest, if any, on
the Securities for which payment of such cash and Governmental Obligations has been deposited with the Trustee.

If the Trustee or Paying Agent is unable to apply any cash
or Governmental Obligations in accordance with this Article XI by reason of any legal proceeding or by reason of any order or judgment
of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations of
the Company under this Indenture and the Securities of such series shall be revived and reinstated as though no deposit had occurred
pursuant to this Article XI until such time as the Trustee or Paying Agent is permitted to apply all such cash and Governmental
Obligations in accordance with this Article XI; provided, however, that, if the Company has made any payment of principal, premium,
if any, interest on or principal of any Securities because of the reinstatement of its obligations, the Company shall be subrogated
to the rights of the holders of such Securities to receive such payment from the cash and Governmental Obligations held by the
Trustee or Paying Agent.

    	45

     

    

ARTICLE
XII

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

Section
12.1 Option to Effect Legal Defeasance or Covenant Defeasance.

The Company may at any time, at the option of its Board of
Directors evidenced by a Board Resolution set forth in an Officer’s Certificate, elect to have either Section 12.2 or 12.3
hereof be applied to all outstanding Securities of a series upon compliance with the conditions set forth below in this Article
XII.

Section
12.2 Legal Defeasance and Discharge.

Upon the Company’s exercise under Section 12.1 hereof
of the option applicable to this Section 12.2 with respect to a series of Securities, the Company will, subject to the satisfaction
of the conditions set forth in Section 12.4 hereof, be deemed to have been discharged from its obligations with respect to all
outstanding Securities of such series on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”).
For this purpose, Legal Defeasance means that the Company will be deemed to have paid and discharged the entire Indebtedness represented
by the Outstanding Securities of such series, which will thereafter be deemed to be Outstanding only for the purposes of Section
12.5 hereof and the Articles and other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied
all their other obligations under such Securities and this Indenture (and the Trustee, on demand of and at the expense of the Company,
shall execute proper instruments acknowledging the same), except for the following provisions which will survive until otherwise
terminated or discharged hereunder:

(1)
the rights of holders of Outstanding Securities of such series to receive payments in respect of the principal of, premium
on, if any, or interest on such Securities when such payments are due from the trust referred to in Section 12.4 hereof;

(2)
the Issuers’ obligations with respect to such Securities under Article 2 and Section 4.2 hereof;

(3)
the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Company’s obligations in connection
therewith; and

(4)
this Article XII.

Subject to compliance with this Article XII, the Company
may exercise its option under this Section 12.2 with respect to a series of Securities, notwithstanding the prior exercise of its
option under Section 12.3 hereof with respect to such series of Securities.

Section
12.3 Covenant Defeasance.

Upon the Company’s exercise under Section 12.1 hereof
of the option applicable to this Section 12.3 with respect to a series of Securities, the Company will, subject to the satisfaction
of the conditions set forth in Section 12.4 hereof, be released from its obligations under Section 5.3 and Article X and any additional
covenants specified in any Board Resolution or indenture supplemental hereto with respect to the Outstanding Securities of such
series on and after the date the conditions set forth in Section 12.4 hereof are satisfied (hereinafter, “Covenant Defeasance”),
and the Securities of such series will thereafter be deemed not Outstanding for the purposes of any direction, waiver, consent
or declaration or act of holders (and the consequences of any thereof) in connection with such covenants, but will continue to
be deemed Outstanding for all other purposes hereunder (it being understood that such Securities will not be deemed Outstanding
for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the Outstanding Securities of such
series, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth
in Section 5.3 or Article X and any additional covenants specified in any Board Resolution or indenture supplemental hereto, whether
directly or indirectly, by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference
in any such Section or Article to any other provision herein or in any other document and such omission to comply shall not constitute
a Default or an Event of Default under Section 6.1 hereof with respect to Outstanding Securities of such series, but, except as
specified above, the remainder of this Indenture and such Securities shall be unaffected thereby.

    	46

     

    

Section
12.4 Conditions to Legal or Covenant Defeasance.

In order to exercise either Legal Defeasance or Covenant
Defeasance under either Section 12.2 or 12.3 hereof with respect to the Outstanding Securities of a particular series:

(1)
the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Securityholders of the Securities
of that series, cash in U.S. dollars, Governmental Obligations, or a combination thereof, in such amounts as will be sufficient,
in the opinion of a nationally recognized investment bank, appraisal firm, or firm of independent public accountants, to pay the
principal of, premium on, if any, and interest on, the Outstanding Securities of such series on the stated date for payment thereof
or on the applicable redemption date, as the case may be, and the Company must specify whether the Securities of such series are
being defeased to such stated date for payment or to a particular redemption date;

(2)
in the case of an election under Section 12.2 hereof, the Company must deliver to the Trustee an Opinion of Counsel reasonably
acceptable to the Trustee confirming that:

(A)
the Company has received from, or there has been published by, the Internal Revenue Service a ruling; or

(B)
since the date of this Indenture, there has been a change in the applicable federal income tax law,

in either case to the effect that, and based thereon such
Opinion of Counsel shall confirm that, the holders of the Outstanding Securities of such series will not recognize income, gain
or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same
amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred;

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(3)
in the case of an election under Section 12.3 hereof, the Company must deliver to the Trustee an Opinion of Counsel reasonably
acceptable to the Trustee confirming that the holders of the Outstanding Securities of such series will not recognize income, gain
or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the
same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

(4)
no Default or Event of Default with respect to the Securities of such series shall have occurred and be continuing on the
date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit
(and any similar concurrent deposit relating to other Indebtedness), and the granting of liens to secure such borrowings);

(5)
such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under,
any material agreement or instrument (other than this Indenture and the agreements governing any other Indebtedness being defeased,
discharged or replaced) to which the Company is a party or by which the Company is bound; and

(6)
the Company must deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all
conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with.

Section
12.5 Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions.

Subject to Section 12.6 hereof, all cash and Governmental
Obligations (including the proceeds thereof) deposited with the Trustee pursuant to Section 12.4 hereof in respect of the Outstanding
Securities of a particular series shall be held in trust and applied by the Trustee, in accordance with the provisions of such
Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying
Agent) as the Trustee may determine, to the holders of such Securities of all sums due and to become due thereon in respect of
principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required
by law.

The Company will pay and indemnify the Trustee against any
tax, fee or other charge imposed on or assessed against the cash or Governmental Obligations deposited pursuant to Section 12.4
hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for
the account of the holders of the Outstanding Securities of the applicable series.

Notwithstanding anything in this Article XII to the contrary,
the Trustee shall deliver or pay to the Company from time to time upon Company Request any cash or Governmental Obligations held
by it as provided in Section 12.4 hereof which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 12.4(1)
hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance
or Covenant Defeasance.

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Section
12.6 Repayment to Company.

Any money deposited with the Trustee or any Paying Agent,
or then held by the Company, in trust for the payment of the principal of, premium on, if any, or interest on any Security and
remaining unclaimed for two years after such principal, premium, if any, or interest, has become due and payable shall, unless
otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be paid to the Company
on its request or (if then held by the Company) will be discharged from such trust; and the holder of such Security will thereafter,
as an unsecured general creditor, be permitted to look only to the Company for payment thereof, and all liability of the Trustee
or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, will thereupon cease;
provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may give written notice
to the holder of such Security, at such holder’s address as it appears upon the Security Register, that such money remains
unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such notification, any
unclaimed balance of such money then remaining will, unless otherwise required by mandatory provisions of applicable escheat or
abandoned or unclaimed property law, be repaid to the Company.

Section
12.7 Reinstatement.

If the Trustee or Paying Agent is unable to apply any cash
or Governmental Obligations in accordance with Section 12.2 or 12.3 hereof, as the case may be, by reason of any order or judgment
of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s
obligations under this Indenture and the Securities of the particular series shall be revived and reinstated as though no deposit
had occurred pursuant to Section 12.2 or 12.3 hereof until such time as the Trustee or Paying Agent is permitted to apply all such
cash or Governmental Obligations in accordance with Section 12.2 or 12.3 hereof, as the case may be; provided, however, that, if
the Company makes any payment of principal of, premium on, if any, or interest on, any Security of the particular series following
the reinstatement of its obligations, the Company shall be subrogated to the rights of the holders of such Securities to receive
such payment from the cash or Governmental Obligations held by the Trustee or Paying Agent.

ARTICLE
XIII

IMMUNITY OF INCORPORATORS,

STOCKHOLDERS, OFFICERS AND DIRECTORS

Section
13.1 No Recourse.

No recourse under or upon any obligation, covenant or
agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had
against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any
predecessor or successor corporation, either directly or through the Company or any such predecessor or successor
corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or
penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are solely
corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the
incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation, or
any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations,
covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and that any and all
such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and
any and all such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the
creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained
in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and released as a
condition of, and as a consideration for, the execution of this Indenture and the issuance of such Securities.

    	49

     

    

ARTICLE
XIV

MISCELLANEOUS PROVISIONS

Section
14.1 Effect on Successors and Assigns.

All the covenants, stipulations, promises and agreements
in this Indenture made by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not. All the
covenants, stipulations, promises and agreements in this Indenture made by or on behalf of the Trustee shall bind its successors
and assigns, whether so expressed or not.

Section
14.2 Actions by Successor.

Any act or proceeding by any provision of this Indenture
authorized or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed
with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful
successor of the Company.

Section
14.3 Surrender of Company Powers.

The Company by instrument in writing executed by authority
of its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon such
power so surrendered shall terminate both as to the Company and as to any successor corporation.

Section
14.4 Notices.

Except as otherwise expressly provided herein, any notice,
request or demand that by any provision of this Indenture is required or permitted to be given, made or served by the Trustee or
by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given or served by being
deposited in first class mail, postage prepaid, addressed, as follows: PLx Pharma Inc., 8285 El Rio, Suite 130, Houston Texas 77054,
Attention: Corporate Secretary. Any notice, election, request or demand by the Company or any Securityholder or by any other Person
pursuant to this Indenture to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if
given or made in writing at the Corporate Trust Office of the Trustee.

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Section
14.5 Governing Law/Waiver of Jury Trial.

This Indenture and each Security shall be deemed to be a
contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the
laws of said State, except to the extent that the Trust Indenture Act is applicable. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT.

Section
14.6 Treatment of Securities as Debt.

It is intended that the Securities will be treated as indebtedness
and not as equity for federal income tax purposes. The provisions of this Indenture shall be interpreted to further this intention.

Section
14.7 Compliance Certificates and Opinions.

(a)
Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture,
the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent provided for in this
Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such
counsel all such conditions precedent have been complied with, except that in the case of any such application or demand as to
which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular
application or demand, no additional certificate or opinion need be furnished.

(b)
Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with
a condition or covenant in this Indenture shall include (i) a statement that the Person making such certificate or opinion has
read such covenant or condition; (ii) a brief statement as to the nature and scope of the examination or investigation upon which
the statements or opinions contained in such certificate or opinion are based; (iii) a statement that, in the opinion of such Person,
he has made such examination or investigation as is reasonably necessary to enable him to express an informed opinion as to whether
or not such covenant or condition has been complied with; and (iv) a statement as to whether or not, in the opinion of such Person,
such condition or covenant has been complied with.

Section
14.8 Payments on Business Days.

Except as provided pursuant to Section 2.1 pursuant to a
Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental to this
Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security
shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business
Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the
period after such nominal date.

    	51

     

    

Section
14.9 Conflict With Trust Indenture Act.

If and to the extent that any provision of this Indenture
limits, qualifies or conflicts with any provision of the Trust Indenture Act, such Trust Indenture Act provision shall control.

Section
14.10 Counterparts.

This Indenture may be executed in any number of counterparts,
each of which shall be deemed an original, but such counterparts shall together constitute but one and the same instrument.

Section
14.11 Severability.

In case any one or more of the provisions contained in this
Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities,
but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been
contained herein or therein.

Section
14.12 Compliance Certificates.

The Company shall deliver to the Trustee, within 120 days
after the end of each fiscal year during which any Securities of any series were outstanding, an Officer’s Certificate stating
whether or not the signers know of any Default or Event of Default that occurred during such fiscal year. Such certificate shall
contain a certification from the principal executive officer, principal financial officer or principal accounting officer of the
Company that a review has been conducted of the activities of the Company and the Company’s performance under this Indenture
and that the Company has complied with all conditions and covenants under this Indenture. For purposes of this Section 14.12, such
compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. If
any of the officers of the Company signing such certificate has knowledge of such a Default or Event of Default, the certificate
shall describe any such Default or Event of Default and its status.

Section
14.13 USA Patriot Act.

The parties hereto acknowledge that, in accordance with Section
326 of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (as amended, modified or supplemented
from time to time, the “USA Patriot Act”), the Trustee, like all financial institutions, is required to obtain,
verify, and record information that identifies each Person or legal entity that opens an account. The parties to this Indenture
agree that they will provide the Trustee with such information as the Trustee may request in order for the Trustee to satisfy the
requirements of the USA Patriot Act.

    	52

     

    

Section
14.14 Consent to Jurisdiction and Service.

To the fullest extent permitted by applicable law, each party
hereby irrevocably submits to the non-exclusive jurisdiction of any Federal or State court located in the Borough of Manhattan
in The City of New York, New York in any suit, action or proceeding based on or arising out of or relating to this Indenture or
any Securities and irrevocably agrees that all claims in respect of such suit or proceeding may be determined in any such court.
Each party irrevocably waives, to the fullest extent permitted by law, any objection which it may have to the laying of the venue
of any such suit, action or proceeding brought in an inconvenient forum. Each party agrees that final judgment in any such suit,
action or proceeding brought in such a court shall be conclusive and binding upon such party, and may be enforced in any courts
to the jurisdiction of which such party is subject by a suit upon such judgment, provided, that service of process is effected
upon such party in the manner specified herein or as otherwise permitted by law.

Section
14.15 Force Majeure.

In no event shall the Trustee be responsible or liable for
any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces
beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military
disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent
with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

[Signature page follows]

    	53

     

    

IN WITNESS WHEREOF, the parties hereto have caused this Indenture
to be duly executed all as of the day and year first above written.

	 	PLX PHARMA INC.
	 	 
	 	By:	
   

	 	 	Name:	 
	 	 	Title:	 

 

 

	 	__________, as Trustee
	 	 
	 	By:	
   

	 	 	Name:	 
	 	 	Title:	 

 

    Signature Page to Indenture

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