Document:

EX-4.1

 Exhibit 4.1 

TWENTY-SIXTH SUPPLEMENTAL INDENTURE 

THIS TWENTY-SIXTH SUPPLEMENTAL INDENTURE, dated as of August 11, 2022 (this “Supplemental Indenture”), is between MPLX
LP, a limited partnership duly formed and existing under the laws of the State of Delaware (the “Partnership”), and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee (the
“Trustee”). 
 WITNESSETH 

WHEREAS, pursuant to the Senior Indenture, dated as of February 12, 2015 (the “Base Indenture”), as supplemented by the First
Supplemental Indenture, dated as of February 12, 2015, the Second Supplemental Indenture, dated as of December 22, 2015, the Third Supplemental Indenture, dated as of December 22, 2015, the Fourth Supplemental Indenture, dated as of
December 22, 2015, the Fifth Supplemental Indenture, dated as of December 22, 2015, the Sixth Supplemental Indenture, dated as of February 10, 2017, the Seventh Supplemental Indenture, dated as of February 10, 2017, the Eighth
Supplemental Indenture, dated as of February 8, 2018, the Ninth Supplemental Indenture, dated as of February 8, 2018, the Tenth Supplemental Indenture, dated as of February 8, 2018, the Eleventh Supplemental Indenture, dated as of
February 8, 2018, the Twelfth Supplemental Indenture, dated as of February 8, 2018, the Thirteenth Supplemental Indenture, dated as of November 15, 2018, the Fourteenth Supplemental Indenture, dated as of November 15, 2018, the
Fifteenth Supplemental Indenture, dated as of September 9, 2019, the Sixteenth Supplemental Indenture, dated as of September 9, 2019, the Seventeenth Supplemental Indenture, dated as of September 23, 2019, the Eighteenth Supplemental
Indenture, dated as of September 23, 2019, the Nineteenth Supplemental Indenture, dated as of September 23, 2019, the Twentieth Supplemental Indenture, dated as of September 23, 2019, the Twenty-First Supplemental Indenture, dated as
of September 23, 2019, the Twenty-Second Supplemental Indenture, dated as of September 23, 2019, the Twenty-Third Supplemental Indenture, dated as of August 18, 2020, the Twenty-Fourth Supplemental Indenture, dated as of
August 18, 2020, and the Twenty-Fifth Supplemental Indenture, dated as of March 14, 2022 (as so supplemented and together with the Base Indenture, the “Indenture”), in each case between the Partnership and the Trustee, the
Partnership may from time to time issue and sell Debt Securities in one or more series; 
 WHEREAS, the Partnership desires to create and
authorize a new series of Debt Securities entitled “4.950% Senior Notes due 2032” (the “Notes”), limited initially to $1,000,000,000 in aggregate principal amount, and to provide the terms and conditions upon which the Notes are
to be executed, registered, authenticated, issued and delivered, the Partnership has duly authorized the execution and delivery of this Supplemental Indenture; 

WHEREAS, the Notes are a series of Debt Securities and are being issued under the Indenture, as supplemented by this Supplemental Indenture,
and are subject to the terms contained therein and herein; 

 WHEREAS, the Notes are to be substantially in the form attached hereto as
Exhibit A; and 
 WHEREAS, all acts and things necessary to make the Notes, when executed by the Partnership and
authenticated and delivered by or on behalf of the Trustee as provided in the Indenture and this Supplemental Indenture, the valid, binding and legal obligations of the Partnership, and to make this Supplemental Indenture a legal, binding and
enforceable agreement, have been done and performed. 
 NOW, THEREFORE, in order to declare the terms and conditions upon which the Notes
are executed, registered, authenticated, issued and delivered, and in consideration of the foregoing premises and the purchase of such Notes by the Holders thereof, the Partnership and the Trustee mutually covenant and agree, for the equal and
proportionate benefit of the Holders from time to time of the Notes, as follows: 
 Section 1. Definitions. Terms used in this
Supplemental Indenture and not defined herein shall have the respective meanings given such terms in the Indenture. 
 Section 2.
Other Definitions. In addition, the following terms shall have the following meanings with respect to the Notes: 
 “Board
Resolution” means a copy of a resolution or resolutions of the Board of Directors or an authorized committee or subcommittee thereof, certified by the Secretary or an Assistant Secretary of the General Partner to be in full force and effect
on the date of such certification, and delivered to the Trustee. 
 “Consolidated Net Tangible Assets” means the aggregate
value of all assets of the Partnership and its Subsidiaries after deducting therefrom: (i) all current liabilities, excluding all short-term indebtedness and the current portion of long-term indebtedness; (ii) all investments in
unconsolidated subsidiaries and all investments accounted for on the equity basis; and (iii) all goodwill, patents and trademarks, unamortized debt discounts and other similar intangibles (all determined in conformity with generally accepted
accounting principles and calculated on a basis consistent with the Partnership’s most recent audited consolidated financial statements). 

“Interest Payment Date,” when used with respect to any installment of interest on any Debt Security, means the date specified
in such Debt Security as the fixed date on which such installment of interest is due and payable. 
 “Mortgage” means as
the context may require, (i) to mortgage, pledge, encumber or subject to a lien or (ii) a mortgage, pledge, encumbrance or lien. 

“Predecessor Security” of any particular Debt Security means every previous Debt Security evidencing all or a portion of the
same debt as that evidenced by such particular Debt Security; and, for the purposes of this definition, any Debt Security authenticated and delivered under Section 2.09 of the Indenture in exchange for or in lieu of a mutilated, destroyed, lost
or stolen Debt Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Debt Security. 

  
 2 

 “Regular Record Date” for the interest payable on any Interest Payment Date
on the Debt Securities means the date specified for that purpose as contemplated by Section 2.03 of the Indenture. 
 “Special
Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 2.17 of the Indenture. 

Section 3. Creation and Authorization of Series. 

(a) There is hereby created and authorized the following new series of Debt Securities to be issued under the Indenture, to be designated as
the “4.950% Senior Notes due 2032.” 
 (b) The Notes shall be limited initially to $1,000,000,000 in aggregate principal amount.
Notwithstanding the foregoing initial aggregate principal amount, the Partnership may, from time to time, without notice to or consent of the Holders of the Notes, increase the principal amount of the Notes that may be issued under this Supplemental
Indenture and issue such increased principal amount (or any portion thereof), in which case any additional Notes so issued will have the same terms and conditions other than the public offering price, original interest accrual date and initial
interest payment date, and the same CUSIP numbers as the applicable series of Notes previously issued, will be fungible with the applicable series of Notes previously issued for U.S. federal income tax purposes, and will carry the same right to
receive accrued and unpaid interest as the Notes previously issued, and such additional notes will form a single series with the Notes of such series previously issued, including, without limitation, for purposes of waivers, amendments, redemptions
and, if any, offers to purchase, and will rank equally and ratably with the Notes of such series previously issued. 
 (c) The date on which
the principal is payable on the Notes, unless accelerated pursuant to the Indenture, shall be as provided in the form of security attached hereto as Exhibit A. 

(d) The Notes shall bear interest as provided in the form of security attached hereto as Exhibit A. The Interest Payment Dates and the
Regular Record Dates for the determination of Holders of the Notes to whom such interest is payable shall be as provided in the form of security attached hereto as Exhibit A. 

(e) The Notes shall be redeemable at the option of the Partnership as set forth in the form of security attached hereto as Exhibit A.

 (f) For purposes of this Note only, Section 3.02 of the Base Indenture (Notice of Redemption; Selection of Debt Securities) is
hereby amended to replace the number 30 with the number 10 in the first sentence of Section 3.02 of the Base Indenture. 

  
 3 

 (g) The provisions of Sections 3.04 and 3.05 of the Indenture shall not be applicable to the
Notes. 
 (h) The Notes will be issued only in fully registered form, without coupons, in denominations provided herein and in the form of
security attached hereto as Exhibit A. 
 (i) The Events of Default and covenants specified in the Indenture will apply to the Notes.

 (j) For purposes of the provisions set forth in Sections 10.01 and 10.02 of the Indenture, “substantially all of the assets”
shall mean, at any date, a portion of the non-current assets reflected in the Partnership’s consolidated balance sheet as of the end of the most recent quarterly period that represents at least sixty-six and two-thirds percent (66 2/3%) of the total reported value of such assets. 

(k) The defeasance and covenant defeasance provisions of Article XI of the Indenture, including both Sections 11.02 and 11.03 of the
Indenture, will apply to the Notes. 
 (l) The Notes shall be issued in the form of one or more Global Debt Securities substantially in the
form of security attached hereto as Exhibit A. The Partnership initially appoints The Depository Trust Company to act as Depositary with respect to the Notes. Additional provisions applicable to the Notes issued in the form of a Global
Security are set forth in the form of security attached hereto as Exhibit A. 
 (m) The Notes shall be issuable only in denominations
of $2,000 and integral multiples of $1,000 in excess thereof. 
 (n) The Trustee will initially act as the Registrar for the Notes and as
the paying agent with respect to the Notes. The Place of Payment will be The Bank of New York Mellon Trust Company, N.A., c/o The Bank of New York Mellon, 240 Greenwich Street, New York, New York 10286. 

(o) Except as otherwise set forth herein and in the Notes, the terms of the Notes shall be as set forth in the Indenture, including those made
part of the Indenture by reference to the TIA. 
 Section 4. Additional Covenants. In addition to the covenants set forth in
Article IV of the Indenture, the following additional covenants shall apply with respect to the Notes: 

  
 4 

 Section 4.10 Mortgage of Certain Property. 

If the Partnership or any Subsidiary of the Partnership shall Mortgage as security for any indebtedness for money borrowed any pipeline,
terminal or other logistics or storage property or asset employed in the transportation, distribution, storage, terminalling, processing or marketing of crude oil, natural gas, condensate or refined products that (i) is located in the United
States and (ii) is determined to be a principal property by the Board of Directors in its discretion, the Partnership will secure, or will cause such Subsidiary to secure, the Notes and all other Debt Securities equally and ratably with all
indebtedness or obligations secured by the Mortgage then being given; provided, however, that this covenant shall not apply in the case of: 
  

	 	(1)	 any Mortgage existing on February 12, 2015 (whether or not such Mortgage includes an after-acquired
property provision); 

  

	 	(2)	 any Mortgage, including a purchase money Mortgage, incurred in connection with the acquisition or construction
of any property (for purposes hereof, the creation of any Mortgage within one hundred eighty (180) days after the acquisition or completion of construction of such property shall be deemed to be incurred in connection with the acquisition of
such property), the assumption of any Mortgage previously existing on such acquired property or any Mortgage existing on the property of any entity when such entity becomes a Subsidiary of the Partnership; 

 

	 	(3)	 any Mortgage on such property in favor of the United States of America, any State, or any agency, department,
political subdivision or other instrumentality of either, to secure partial, progress, advance or other payments to the Partnership or any Subsidiary of the Partnership pursuant to the provisions of any contract or any statute;

  

	 	(4)	 any Mortgage on such property in favor of the United States of America, any State, or any agency, department,
political subdivision or other instrumentality of either, to secure borrowings by the Partnership or any Subsidiary of the Partnership for the purchase or construction of the property Mortgaged; 

 

	 	(5)	 any Mortgage on any principal property arising in connection with or to secure all or any part of the cost of
the repair, construction, improvement or alteration of such principal property or any portion thereof; 

  

	 	(6)	 any Mortgage on any movable railway, marine or automotive equipment or office building, any of which is located
at or on any such principal property; 

  

	 	(7)	 any Mortgage on any equipment or other personal property used in connection with any such principal property;

  

	 	(8)	 any Mortgage on any such principal property arising in connection with the sale of accounts receivable; or

  

	 	(9)	 any Mortgage that is a renewal of or substitution for any Mortgage permitted under any of the preceding
clauses. 

  
 5 

 Notwithstanding the foregoing restriction contained in this Section 4.10, the
Partnership may, and may permit its Subsidiaries to, incur liens or grant Mortgages on property covered by the restriction above so long as the net book value of the property so encumbered, together with all property subject to the restriction on
sale and leasebacks contained in Section 4.11, does not, at the time such lien or Mortgage is granted, exceed fifteen percent (15%) of Consolidated Net Tangible Assets. 

Section 4.11 Sale and Leaseback of Certain Properties. 

The Partnership will not, nor will it permit any Subsidiary of the Partnership to, sell or transfer any pipeline, terminal or other logistics
or storage property or asset employed in the transportation, distribution, storage, terminalling, processing or marketing of crude oil, natural gas, condensate or refined products that (i) is located in the United States and (ii) is
determined to be a principal property by the Board of Directors in its discretion, with the intention of taking back a lease of such property; provided, however, this covenant shall not apply if: 

 

	 	(1)	 the lease is between the Partnership and a Subsidiary or between Subsidiaries; 

 

	 	(2)	 the lease is for a temporary period by the end of which it is intended that the use of such property by the
lessee will be discontinued; 

  

	 	(3)	 the Partnership or a Subsidiary of the Partnership could, in accordance with Section 4.10, Mortgage such
property without equally and ratably securing the Notes and other series of Debt Securities; or 

  

	 	(4)	 (A) the Partnership promptly informs the Trustee of such sale, 

 

	 	(B)	 the net proceeds of such sale are at least equal to the fair value (as evidenced by a Board Resolution) of such
property; and 

  

	 	(C)	 the Partnership shall, and in any such case the Partnership covenants that it will, within one hundred and
eighty (180) days after such sale, apply an amount equal to the net proceeds of such sale to the retirement of debt of the Partnership, or of a Subsidiary of the Partnership in the case of property of such Subsidiary, maturing, by its terms
more than one (1) year after the date on which it was originally incurred (herein called “funded debt”); provided that the amount to be applied to the retirement of funded debt of the Partnership or of a Subsidiary of the
Partnership shall be reduced by the amount below if, within seventy-five (75) days after such sale, the Partnership shall deliver to the Trustee an Officer’s Certificate 

 

	 	(i)	 stating that on a specified date after such sale the Partnership or a Subsidiary of the Partnership, as the
case may be, voluntarily retired a specified principal amount of funded debt, 

  
 6 

	 	(ii)	 stating that such retirement was not effected by payment at maturity or pursuant to any applicable mandatory
sinking fund or prepayment provision (other than provisions requiring retirement of any funded debt of the Partnership or a Subsidiary of the Partnership, as the case may be, under the circumstances referred to in this Section 4.11), and

  

	 	(iii)	 stating the then optional redemption or prepayment price applicable to the funded debt so retired or, if there
is no such price applicable, the amount applied by the Partnership or a Subsidiary of the Partnership, as the case may be, to the retirement of such funded debt. 

In the event of such a sale or transfer, the Partnership shall deliver to the Trustee the Board Resolution referred to in the parenthetical
phrase contained in subclause (4)(B) of this Section 4.11 and an Officer’s Certificate setting forth all material facts under this Section 4.11. For the purposes of this Section 4.11, the term “retirement” of such
funded debt shall include the “in substance defeasance” of such funded debt in accordance with then applicable accounting rules. 

Section 5. Effect of Supplemental Indenture. The provisions of this Supplemental Indenture are intended to supplement those of the
Indenture as in effect immediately prior to the execution and delivery hereof. The Indenture shall remain in full force and effect except to the extent that the provisions of the Indenture are expressly modified by the terms of this Supplemental
Indenture. 
 Section 6. Governing Law. This Supplemental Indenture and the Notes shall be governed by and construed in
accordance with the law of the State of New York, without giving effect to any principles of conflicts of laws thereunder to the extent the application of the laws of another jurisdiction would be required thereby. 

Section 7. Trustee Not Responsible for Recitals or Issuance of Notes. The recitals and statements contained herein shall be taken
as statements of the Partnership, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture or of the Notes other than with respect to the
Trustee’s authentication. The Trustee shall not be accountable for the use or application by the Partnership of the Notes or the proceeds thereof. 

Section 8. Conflict with TIA. If any provision hereof limits, qualifies or conflicts with a provision of the TIA that is required
under the TIA to be a part of and govern this Supplemental Indenture, the latter provision shall control. If any provision of this Supplemental Indenture modifies or excludes any provision of the TIA that may be so modified or excluded, the latter
provision shall be deemed to apply to this Supplemental Indenture as so modified or to be excluded, as the case may be. 

  
 7 

 Section 9. Counterparts; Electronic Signature. This Supplemental Indenture may
be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute one and the same instrument. The exchange of copies of this Supplemental Indenture and of signature pages that are
executed by manual signatures that are scanned, photocopied or faxed or by other electronic signing created on an electronic platform (such as DocuSign) or by digital signing (such as Adobe Sign), in each case that is approved by the Trustee, shall
constitute effective execution and delivery of this Supplemental Indenture for all purposes. Signatures of the parties hereto that are executed by manual signatures that are scanned, photocopied or faxed or by other electronic signing created on an
electronic platform (such as DocuSign) or by digital signing (such as Adobe Sign), in each case that is approved by the Trustee, shall be deemed to be their original signatures for all purposes of the Supplemental Indenture as to the parties hereto
and may be used in lieu of the original. 
 Anything in the Indenture, this Supplemental Indenture or the Notes to the contrary
notwithstanding, for the purposes of the transactions contemplated by the Indenture, this Supplemental Indenture, the Notes and any document to be signed in connection with the Indenture, this Supplemental Indenture or the Notes (including
amendments, waivers, consents and other modifications, Officer’s Certificates, Company Orders and Opinions of Counsel and other issuance, authentication and delivery documents) or the transactions contemplated hereby may be signed by manual
signatures that are scanned, photocopied or faxed or other electronic signatures created on an electronic platform (such as DocuSign) or by digital signature (such as Adobe Sign), in each case that is approved by the Trustee, and contract formations
on electronic platforms approved by the Trustee, and the keeping of records in electronic form, are hereby authorized, and each shall be of the same legal effect, validity or enforceability as a manually executed signature in ink or the use of a
paper-based recordkeeping system, as the case may be. 
 Section 10. The Partnership covenants and represents to the Trustee that
neither the Partnership nor any of the Partnership’s subsidiaries, or to the Partnership’s knowledge, any director, officer, employee, agent, affiliate or representative of the Partnership or any of the Partnership’s subsidiaries, is
an individual or entity (“Person”) that is, or is owned or controlled by a Person that is: 
  

	 	(A)	 the subject of any sanctions administered or enforced by the U.S. Department of Treasury’s Office of
Foreign Assets Control or other relevant sanctions authority (collectively, “Sanctions”), nor 

  

	 	(B)	 located, organized or resident in a country or territory that is the subject of Sanctions (including, without
limitation, the so-called Donetsk People’s Republic, the so-called Luhansk People’s Republic, the Crimea region of Ukraine, Cuba, Iran, North Korea and Syria).

  
 8 

 (b) The Partnership will not, directly or indirectly, use any payments made pursuant to this
Supplemental Indenture, or lend, contribute or otherwise make available such payments to any subsidiary, joint venture partner or other Person: 
  

	 	(A)	 to fund or facilitate any activities or business of or with any Person or in any country or territory that, at
the time of such funding or facilitation, is the subject of Sanctions; or 

  

	 	(B)	 in any other manner that will result in a violation of Sanctions by any Person (including any Person
participating in the offering, whether as underwriter, advisor, investor or otherwise). 

 [The remainder of this page is
left blank intentionally] 

  
 9 

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

					
	MPLX LP 
	
	By: MPLX GP LLC, its General Partner
		
	By:	 	 /s/ Thomas Kaczynski

		 	Name:	 	Thomas Kaczynski
		 	Title:	 	Senior Vice President, Finance and
		 		 	Treasurer

 [Signature Page to Twenty-Sixth Supplemental Indenture] 

 
			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	 /s/ Mark A. Golder

		 	Name: Mark A. Golder
		 	Title: Vice President

 [Signature Page to Twenty-Sixth Supplemental Indenture] 

 Exhibit A 

MPLX LP 
 4.950% Senior
Notes due 2032 
  

			
	No.	  	$
		  	CUSIP No. 55336V BU3

 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE PARTNERSHIP OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN
WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE
REFERRED TO HEREIN. 
 MPLX LP, a limited partnership duly formed and existing under the laws of the State of Delaware (herein called the
“Partnership,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of [•] ($[•]), or
such greater or lesser amount as indicated on the Schedule of Increases or Decreases in the Principal Amount of Securities attached hereto, on September 1, 2032, and to pay interest thereon from August 11, 2022 or from the most recent
Interest Payment Date to which interest has been paid or duly provided for, semi-annually on March 1 and September 1 in each year commencing March 1, 2023, at the rate of 4.950% per annum, until the principal hereof is paid or made
available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Debt Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be February 15 or August 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any
such interest 

 
not so 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 Debt 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 Debt Securities of this series may be listed, and upon such notice
as may be required by such exchange all as more fully provided in said Indenture. If an Interest Payment Date, a Stated Maturity or a Redemption Date with respect to this Security falls on a day that is not a Business Day, the payment will be made
on the next Business Day and no interest will accrue for the period from and after such Interest Payment Date, Stated Maturity or Redemption Date. 

Payment of the principal of (and premium, if any) and interest on this Security will be made at the office or agency of the Partnership
maintained for that purpose in New York, New York, 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; provided, however, that (1) payments on any Global
Security shall be made by electronic (same-day) funds transfer to the Depositary and (2) at the option of the Partnership, payment of interest may be made by check mailed to the address of the Person
entitled thereto as such address shall appear in the Debt Security Register or by electronic funds transfer to an account maintained by the Person entitled thereto as specified in the Debt Security Register, provided that such Person shall have
given the Trustee written instructions. 
 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, for purposes of this Debt Security only, by Adobe Sign or DocuSign, or such other digital signature or electronic platform or method as
specified in writing by email to the Partnership (or to its counsel) by the Trustee (or its counsel), this Debt Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

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

Dated: 
  

			
	MPLX LP 
	
	By: MPLX GP LLC, its General Partner
		
	By:	 	  

		 	Name:
		 	Title:

 CERTIFICATE OF AUTHENTICATION 

This is one of the Debt Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated: 
  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	  

		 	Authorized Signatory

 MPLX LP 

4.950% Senior Notes due 2032 

This Security is one of a duly authorized issue of Debt Securities of the Partnership (herein called the “Securities”), issued and
to be issued in one or more series under a Senior Indenture, dated as of February 12, 2015, as amended or supplemented to date, including as supplemented and amended by the Twenty-Sixth Supplemental Indenture, dated as of August 11, 2022
(herein called the “Indenture,” which term shall have the meaning assigned to it in such instrument), between the Partnership and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the “Trustee,” which
term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Partnership, 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 designated on the face hereof initially limited in aggregate principal amount to $1,000,000,000. 

Prior to June 1, 2032, the Partnership may redeem the Securities at its option, in whole at any time or in part from time to time, at a
redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of (1) the sum of the present values of the remaining scheduled payments of principal and interest on the Securities to be
redeemed discounted to the Redemption Date (assuming such Securities matured on September 1, 2032) on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the Treasury Rate plus 35 basis points less interest accrued to the Redemption Date, and (2) 100% of the principal amount of such Securities to be redeemed, plus, in either case,
accrued and unpaid interest thereon to the Redemption Date. 
 On or after June 1, 2032, the Partnership may redeem the Securities in
whole at any time or in part from time to time, at a redemption price equal to 100% of the principal amount of such Securities to be redeemed plus accrued and unpaid interest thereon to the Redemption Date. 

For purposes of the redemption provisions of the Securities, the following terms are applicable: 

“Business Day” means any Monday, Tuesday, Wednesday, Thursday or Friday that is not a day on which banking institutions in New York,
New York or any Place of Payment are authorized or obligated by law, regulation or executive order to close. 
 “Treasury Rate”
means, with respect to any Redemption Date, the yield determined by the Partnership in accordance with the following two paragraphs. 

 The Treasury Rate shall be determined by the Partnership after 4:15 p.m., New York City time
(or after such time as yields on U.S. government securities are posted daily by the Board of Governors of the Federal Reserve System), on the third Business Day preceding the Redemption Date based upon the yield or yields for the most recent day
that appear after such time on such day in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily)—H.15” (or any successor designation or
publication) (“H.15”) under the caption “U.S. government securities–Treasury constant maturities–Nominal” (or any successor caption or heading). In determining the Treasury Rate, the Partnership shall select, as
applicable: (1) the yield for the Treasury constant maturity on H.15 exactly equal to the period from the Redemption Date to June 1, 2032 (the “Remaining Life”); or (2) if there is no such Treasury constant maturity on H.15
exactly equal to the Remaining Life, the two yields – one yield corresponding to the Treasury constant maturity on H.15 immediately shorter than and one yield corresponding to the Treasury constant maturity on H.15 immediately longer than the
Remaining Life – and shall interpolate to June 1, 2032 on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or (3) if there is no such Treasury constant maturity
on H.15 shorter than or longer than the Remaining Life, the yield for the single Treasury constant maturity on H.15 closest to the Remaining Life. For purposes of this paragraph, the applicable Treasury constant maturity or maturities on H.15 shall
be deemed to have a maturity date equal to the relevant number of months or years, as applicable, of such Treasury constant maturity from the Redemption Date. 

If on the third Business Day preceding the Redemption Date, the Treasury constant maturity described above is no longer displayed on H.15, or
if H.15 is no longer published, the Partnership shall calculate the Treasury Rate based on the rate per annum equal to the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such
Redemption Date of the United States Treasury security maturing on, or with a maturity that is closest to, June 1, 2032. If there is no United States Treasury security maturing on June 1, 2032 but there are two or more United States
Treasury securities with a maturity date equally distant from June 1, 2032, one with a maturity date preceding June 1, 2032 and one with a maturity date following June 1, 2032, the Partnership shall select the United States Treasury
security with a maturity date preceding June 1, 2032. If there are two or more United States Treasury securities maturing on June 1, 2032 or two or more United States Treasury securities meeting the criteria of the preceding sentence, the
Partnership shall select from among these two or more United States Treasury securities the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United States Treasury securities
at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph, the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and
asked prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and rounded to three decimal places. 

The Partnership’s actions and determinations in determining the redemption price shall be conclusive and binding for all purposes, absent
manifest error. The Partnership will notify the Trustee of the redemption price promptly after the calculation thereof and the Trustee shall not be responsible or liable for any calculation of the redemption price or of any component thereof, or for
determining whether manifest error has occurred. 

  
 2 

 Unless the Partnership defaults in payment of the redemption price, on or after the
Redemption Date, interest will cease to accrue on the Securities or portions thereof called for redemption. 
 In the case of a partial
redemption, selection of the Securities for redemption will be made pro rata, by lot or by such other method as the Trustee in its sole discretion deems appropriate and fair. No Securities of a principal amount of $2,000 or less will be redeemed in
part. If any Security is to be redeemed in part only, the notice of redemption that relates to the Security will state the portion of the principal amount of the Security to be redeemed. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or of certain restrictive covenants
and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 The
Indenture contains provisions permitting the Partnership and the Trustee to modify the Indenture or any supplemental indenture without the consent of the Holders for one or more of the following purposes: (1) to evidence the succession of
another Person to the Partnership; (2) to surrender any right or power conferred by the Indenture, to add to the covenants for the protection of the Holders of the Securities or to add additional defaults or events of default; (3) to cure
any ambiguity, to correct or supplement any provision of the Indenture which may be defective or inconsistent with any other provision of the Indenture, or to make any other provisions with respect to matters or questions arising under the Indenture
as shall not adversely affect the interests of the Holders; (4) to permit qualification of the Indenture or any supplemental indenture under the TIA; (5) to permit or facilitate the issuance of Debt Securities of any series in
uncertificated form; (6) to secure any or all Debt Securities; (7) to make any change that does not adversely affect the rights of any Holder; (8) to add to, change or eliminate any of the provisions of the Indenture in respect of one
or more Debt Securities, under certain conditions specified therein; (9) to evidence and provide acceptance of appointment thereunder by a successor or separate Trustee and to add to or change the provisions under the Indenture as necessary;
and (10) to establish the form or terms of Debt Securities of any series as permitted by Sections 2.01 and 2.03 of the Indenture. 

The Indenture also permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Partnership and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Partnership and the Trustee with the consent of the Holders of not less than a majority in aggregate
principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of at least a majority in aggregate principal amount of the

  
 3 

 
Securities at the time Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Partnership with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. 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. 
 As
provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy
thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities, the Holders of not less than 25% in aggregate principal amount of the Securities then Outstanding
shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of
the Securities then Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the
Partnership, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Debt
Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Partnership in any place where the principal of and any premium and interest on this Security are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Partnership and the Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities and of like tenor, of
authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The
Securities are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Securities are
exchangeable for a like aggregate principal amount of Securities and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but, subject to any applicable provisions of the Indenture,
the Partnership may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

  
 4 

 Prior to due presentment of this Security for registration of transfer, the Partnership, the
Trustee and any agent of the Partnership 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 Partnership, the Trustee nor any
such agent shall be affected by notice to the contrary. 
 All terms used in this Security which are defined in the Indenture shall have the
meaning assigned to them in the Indenture. 

  
 5 

 FORM OF ASSIGNMENT 

ABBREVIATIONS 
 Customary abbreviations
may be used in the name of a Securityholder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A
(=Uniform Gift to Minors Act). 
 Additional abbreviations may also be used though not in the above list. 

 
  

FOR VALUE RECEIVED, the undersigned hereby sell(s), 

assign(s) and transfer(s) unto 
  

 
 Please insert Social
Security or 
 other identifying number of assignee 

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE 
  

			
	  
	  	
		
	  
	  	
		
	  
	  	
		
	  
	  	

 the within Security and all rights thereunder, hereby irrevocably constituting and appointing _____________________ attorney
to transfer said Security on the books of the Partnership, with full power of substitution in the premises. 
  

			
		  	Dated:
		
		  	Notice: This signature to the assignment must correspond with the name as written on the face of the within instrument in every particular, without alteration or enlargement, or any change whatever.

 SCHEDULE OF INCREASES OR DECREASES IN THE PRINCIPAL AMOUNT OF SECURITIES 

The original principal amount of this Security is [•] U.S. Dollars ($[•]). The following increases or decreases in the principal
amount of this Security have been made: 
  

									
	 Date of increase or

decrease
	 	 Amount of

decrease in
 principal
amount
 of this Security
	 	 Amount of increase

in principal
 amount of
this
 Security
	  	 Principal amount

of this Security
 following
such
 decrease or

increase
	  	 Signature of

authorized
 signatory
of
 Trustee or

DepositaryExhibit
10.1

 

FIRST
AMENDMENT TO LOAN AND SECURITY AGREEMENT

 

THIS
FIRST AMENDMENT to Loan and Security Agreement (this “Amendment”) is entered into as of August 9, 2022, by and among
INNOVATUS LIFE SCIENCES LENDING FUND I, LP, a Delaware limited partnership, as collateral agent (in such capacity, together with its
successors and assigns in such capacity, “Collateral Agent”), and the Lenders listed on Schedule 1.1 of the Loan Agreement
(as defined herein) or otherwise a party to the Loan Agreement from time to time including INNOVATUS LIFE SCIENCES LENDING FUND I, LP
in its capacity as a Lender, and CELCUITY, INC., a Delaware corporation (“Borrower”).

 

WHEREAS,
Collateral Agent, Borrower and Lenders have entered into that certain Loan and Security Agreement, dated as of April 8, 2021 (as amended,
supplemented or otherwise modified from time to time, the “Loan Agreement”) pursuant to which Lenders have provided
to Borrower certain loans in accordance with the terms and conditions thereof; and

 

WHEREAS,
Borrower, Lenders and Collateral Agent desire to amend certain provisions of the Loan Agreement.

 

NOW,
THEREFORE, in consideration of the promises, covenants and agreements contained herein, and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, Borrower, Lenders and Collateral Agent hereby agree as follows:

 

		1.	Capitalized
                                            terms used herein but not otherwise defined shall have the respective meanings given to them
                                            in the Loan Agreement.

 

		2.	Section
                                            2.2(a) of the Loan Agreement is hereby amended and restated as follows:

 

(a)
Availability.

 

(i)
Subject to the terms and conditions of this Agreement, the Lenders agree, severally and not jointly, to make a term loan to Borrower
on the effective date in an aggregate principal amount of up to Fifteen Million Dollars ($15,000,000.00) according to each Lender’s
Term Loan Commitment as set forth in Schedule 1.1 hereto (the “Term A Loan”). After repayment, the Term A Loan may
not be re-borrowed. The parties hereby acknowledge that the Term A Loan was funded in its entirety on the Effective Date.

 

(ii)
Subject to the terms and conditions of this Agreement, the Lenders agree, severally and not jointly, to make a term loan to Borrower
during the Term B Draw Period in an aggregate principal amount of up to Twenty Million ($20,000,000.00) according to each Lender’s
Term B Loan Commitment as set forth in Schedule 1.1 hereto (the “Term B Loan”). After repayment, the Term B Loan may
not be re-borrowed.

 

(iii)
Subject to the Borrower having first achieved the Term B Milestone by the expiration of the Term B Draw Period and the other terms and
conditions of this Agreement, the Lenders agree, severally and not jointly, to make a term loan to Borrower during the Term C Draw Period
in an aggregate principal amount of up to Ten Million ($10,000,000.00) according to each Lender’s Term Loan Commitment as set forth
in Schedule 1.1 hereto (the “Term C Loan”). After repayment, the Term C Loan may not be re-borrowed.

 

(iv)
Subject to the Borrower having first achieved the Term B Milestone by the expiration of the Term B Draw Period and the other terms and
conditions of this Agreement, the Lenders agree, severally and not jointly, to make a term loan to Borrower during the Term D Draw Period
in an aggregate principal amount of up to Twenty Million ($20,000,000.00) according to each Lender’s Term Loan Commitment as set
forth in Schedule 1.1 hereto (the “Term D Loan”). After repayment, the Term D Loan may not be re-borrowed.

 

(v)
Subject to the Borrower having first achieved the Term B Milestone by the expiration of the Term B Draw Period and the other terms and
conditions of this Agreement, the Lenders agree, severally and not jointly, to make a term loan to Borrower during the Term E Draw Period
in an aggregate principal amount of up to Ten Million ($10,000,000.00) according to each Lender’s Term Loan Commitment as set forth
in Schedule 1.1 hereto (the “Term E Loan;” each Term A Loan, Term B Loan, Term C Loan, Term D Loan and Term E Loan
is referred to singly as a “Term Loan” and the Term A Loan, Term B Loan, Term C Loan, Term D Loan and Term E Loan
are referred to collectively as the “Term Loans”). After repayment, the Term E Loan may not be re-borrowed.

 

    	 

    	 

    

 

		3.	Section
                                            2.2(d) of the Loan Agreement is hereby amended and restated as follows:

 

(d)
Permitted Prepayment of Term Loan. After the date that is the first anniversary of the First Amendment Effective Date, the Borrower
shall have the option to prepay all, but not less than all, of the Term Loan advanced by the Lenders under this Agreement, provided Borrower
(i) provides written notice to Collateral Agent of its election to prepay the Term Loan at least seven (7) Business Days prior to such
prepayment, and (ii) pays to Collateral Agent for the benefit of each Lenders on the date of such prepayment, payable to each Lender
in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the Term Loan plus accrued
and unpaid interest thereon through the prepayment date, (B) the Final Fee, (C) the Prepayment Fee, plus (D) all other outstanding Obligations
that are due and payable, including, without limitation, Lenders’ Expenses and interest at the Default Rate with respect to any
past due amounts.

 

Notwithstanding
anything herein to the contrary, after the first anniversary of the First Amendment Effective Date, Borrower shall also have the option
to prepay part of Term Loans advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral
Agent of its election to prepay the Term Loans at least seven (7) Business Days prior to such prepayment, (ii) prepays such part of the
Term Loans in a principal amount of Five Million Dollars ($5,000,000.00) or a whole multiple of One Million Dollars ($1,000,000.00) in
excess thereof, and (iii) pays to the Lenders on the date of such prepayment, payable to each Lender in accordance with its respective
Pro Rata Share, an amount equal to the sum of (A) the portion of outstanding principal of such Term Loans plus all accrued and unpaid
interest thereon through the prepayment date, (B) the applicable Final Fee, and (C) all other Obligations that are then due and payable,
including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts, and (D) the applicable Prepayment
Fee with respect to the portion of such Term Loans being prepaid. For the purposes of clarity, any partial prepayment shall be applied
pro-rata to all outstanding amounts under each Term Loan, and shall be applied pro-rata within each Term Loan tranche to reduce amortization
payments under Section 2.2(b) on a pro-rata basis.

 

		4.	Section
                                            2.3(a) of the Loan Agreement is hereby amended and restated as follows:

 

(a)
Interest Rate. Subject to Section 2.3(b), the principal amount outstanding under the Term Loan shall accrue interest at a floating
per annum rate equal to the Basic Rate, determined by Collateral Agent on the Funding Date of the Term Loan and monthly thereafter, which
interest shall be payable monthly in arrears in accordance with Sections 2.2(b) and 2.3(e); provided that at the election of Borrower
(which shall be considered elected on the Funding Date of the applicable Term Loan) with no less than five (5) Business Days’ written
notice to Collateral Agent prior to the Funding Date, 4.95% of the Basic Rate may be payable in-kind by adding an amount equal to such
4.95% of the outstanding principal amount to the then outstanding principal balance on a monthly basis until the Amortization Date so
as to increase the outstanding principal balance of the Term Loan on each Payment Date and which amount shall be payable when the principal
amount of the applicable Term Loan is payable in accordance with Sections 2.2(b) and 2.3(e) and on which principal amount interest shall
be owed pursuant to Section 2.3(a).

Interest
shall accrue on each Term Loan commencing on, and including, the Funding Date of such Term Loan, and shall accrue on the principal amount
outstanding under such Term Loan through and including the day on which such Term Loan is paid in full.

 

    	2

    	 

    

 

		5.	Section
                                            2.4(a) of the Loan Agreement is hereby amended and restated as follows:

 

(a)
Facility Fee. The Facility Fee, which shall be due on the Funding Date of the Term A Loan, to be shared among the Lenders in accordance
with their respective Pro Rate Shares;

 

		6.	Section
                                            2.4 of the Loan Agreement is hereby amended by adding the following subsections thereto:

 

(e)
Term C Loan Non-Utilization Fee. If the Term C Draw Period commences and Borrower (i) fails to draw the full amount of the Term
C Loan during the Term C Draw Period and (ii) fails to notify Collateral Agent, at any time before the date that is two (2) weeks after
the commencement of the Term C Draw Period, of Borrower’s intent not to draw the full amount of the Term C Loan, a non-utilization
fee of Three Hundred Thousand Dollars ($300,000.00), with respect to the Term C Loan shall become due and payable on the earliest of
(i) the termination of the Term C Draw Period, (ii) the Maturity Date, (iii) the acceleration of any Term Loan, or (iv) the prepayment
in whole of the Term Loan pursuant to Section 2.2(c) or (d);

 

(f)
Term D Loan Non-Utilization Fee. If the Term D Draw Period commences and Borrower (i) fails to draw the full amount of the Term
D Loan during the Term D Draw Period and (ii) fails to notify Collateral Agent, at any time before the date that is two (2) weeks after
the commencement of the Term D Draw Period, of Borrower’s intent not to draw the full amount of the Term D Loan, a non-utilization
fee of Six Hundred Thousand Dollars ($600,000.00), with respect to the Term D Loan shall become due and payable on the earliest of (i)
the termination of the Term D Draw Period, (ii) the Maturity Date, (iii) the acceleration of any Term Loan, or (iv) the prepayment in
whole of the Term Loan pursuant to Section 2.2(c) or (d); and

 

(g)
Term E Loan Non-Utilization Fee. If the Term E Draw Period commences and Borrower (i) fails to draw the full amount of the Term
E Loan during the Term E Draw Period and (ii) fails to notify Collateral Agent, at any time before the date that is two (2) weeks after
the commencement of the Term E Draw Period, of Borrower’s intent not to draw the full amount of the Term E Loan, a non-utilization
fee of Three Hundred Thousand Dollars ($300,000.00), with respect to the Term E Loan shall become due and payable on the earliest of
(i) the termination of the Term E Draw Period, (ii) the Maturity Date, (iii) the acceleration of any Term Loan, or (iv) the prepayment
in whole of the Term Loan pursuant to Section 2.2(c) or (d).

 

		7.	Section
                                            2.7 of the Loan Agreement is hereby amended and restated as follows:

 

2.7
Conversions to Equity. Lenders shall have the right at their election, but not the obligation, until the third anniversary of the
First Amendment Effective Date, to convert (i) up to twenty percent (20.00%) of the outstanding principal amount of the Term A Loan and
(ii) an additional seven percent (7.00%) of the amount by which the aggregate principal amount of any additional Term Loans (or portion
thereof) made hereunder if the outstanding principal amount of all the Term Loans made hereunder (inclusive of such additional Term Loans
(or portion thereof)) exceeds Thirty Five Million Dollars ($35,000,000.00) into shares of Common Stock of Borrower at a price per share
of Ten Dollars ($10.00), which price shall be subject to appropriate adjustment for any stock split, stock dividend, combination, or
other recapitalization or reclassification effected after the First Amendment Effective Date). Such shares shall be referred to herein
as “Borrower Equity.”

 

To
exercise their rights under this Section 2.7, the applicable Lender(s) shall notify Borrower in writing of the then outstanding principal
amount of the Term Loans that is to be converted into Borrower Equity. Borrower shall no later than seven (7) days after the receipt
of such notice issue the applicable number of shares of its Common Stock to the applicable Lender(s). Upon issuance of Borrower Equity
in accordance with the provisions of this Section 2.7, the principal amount of Term Loans so converted shall be deemed to have been prepaid
for the purposes of this Agreement, provided, however, no Prepayment Fee or Final Fee shall be due with respect to such deemed prepayment.
The applicable Lenders shall also in connection with the issuance of Borrower’s Equity securities pursuant to this Section 2.7,
enter into such agreements as reasonably requested by Borrower with customary terms and provisions for such transactions.

 

    	3

    	 

    

 

		8.	Section
                                            3.2 of the Loan Agreement is hereby amended by deleting “and” at the end of subsection
                                            (g) thereof, replacing “.” at the end of subsection (h) thereof with “;”
                                            and adding the following subsections thereto:

 

(i)
if such Term Loan is the Term D Loan, the Term D Milestone must have been met and the pro forma aggregate funded principal amount of
the Term Loans (i.e., after giving effect to the funding of the Term D Loan) as a percentage of the volume weighted average market capitalization
of Borrower for the 10 trading days immediately preceding the Funding Date of Term D Loan is 35% or less; and

 

(j)
if such Term Loan is the Term E Loan, the Term E Milestone must have been met and the pro forma aggregate funded principal amount of
the Term Loans (i.e., after giving effect to the funding of the Term E Loan) as a percentage of the volume weighted average market capitalization
of Borrower for the 10 trading days immediately preceding the Funding Date of Term E Loan is 35% or less.

 

		9.	Section
                                            6.12 of the Loan Agreement is hereby amended and restated as follows:

 

6.12
Financial Covenant. Prior to the occurrence of the FDA Approval Event, during each fiscal quarter (or if applicable, part thereof)
Borrower shall maintain in Collateral Accounts subject to Control Agreements in favor of Collateral Agent aggregate unrestricted cash
balance of not less than the following aggregate amounts:

 

	 	Volume
    weighted average market capitalization of Borrower during the immediate preceding quarter ($ million)	 	Minimum
    aggregate unrestricted cash balance in Collateral Accounts 

    (subject
    to Control Agreements in favor of Collateral Agent) during the quarter:

     

	 	>$200	 	10%
    of the aggregate funded amount of Term Loans

     

	 	$150-$200	 	The
    greater of (i) $3.5 million or (ii) 10% of the aggregate funded amount of Term Loans

     

	 	$100-$150	 	The
    greater of (i) $5.0 million or (ii) 15% of the aggregate funded amount of Term Loans

     

	 	<$100	 	The
    greater of $7.5 million or (ii) 20% of the aggregate funded amount of Term Loans

 

Commencing
with the occurrence of the FDA Approval Event, as tested on the last day of each quarter, actual TTM Revenue for the 12-month period
then ended in an amount not less than fifty percent (50.00%) of the projections for the same 12-month period as then ended as set forth
in the Borrower’s financial projections for such period, which financial projections have been approved by Borrower’s Board
of Directors and are reasonably acceptable to Collateral Agent.

 

Notwithstanding
anything herein to the contrary, Borrower shall not be obligated to comply with the provisions of this Section 6.12 during any fiscal
quarter of Borrower if either (i) Borrower’s actual TTM Revenue for the 12-month period ended on the last day of the immediately
preceding quarter was at least Seventy Five Million Dollars ($75,000,000.00) or (ii) the Borrower has been cash flow positive for its
two most recently completed fiscal quarters.

 

    	4

    	 

    

 

		10.	Section
                                            8.2(a) of the Loan Agreement is hereby amended and restated as follows:

 

(a)
Borrower or any of its Subsidiaries fails or neglects to perform any obligation in Section 2.7, Sections 6.2 (Financial Statements, Reports,
Certificates), 6.4 (Taxes), 6.5 (Insurance), 6.6 (Operating Accounts), 6.7 (Protection of Intellectual Property Rights), 6.9 (Landlord
Waivers; Bailee Waivers), 6.10 (Creation/Acquisition of Subsidiaries), 6.12 (Financial Covenant) or 6.13 (Liquidity Covenant) or Borrower
violates any provision in Section 7; provided, however, in the event that the Borrower fails to comply with the requirements of the financial
covenant set forth in Section 6.12, Borrower may cure such breach by means of submitting a new financial plan to Collateral Agent under
which Borrower will break even on a cashflow basis prior to Maturity Date (which financial plan must include provisions for how Borrower
will secure funding to support such financial plan and which must be acceptable to Collateral Agent and approved by Borrower’s
Board of Directors) no later than thirty (30) days after the occurrence of the breach of the financial covenant and raising, no later
than thirty (30) days after the submission of such financial plan to Collateral Agent, such amount of capital from the sale and issuance
of its equity securities as required per the new financial plan; provided, that upon such cure the parties shall amend the covenant in
Section 6.12 in accordance with the new financial plan which amendment must be acceptable to Collateral Agent and shall, among other
things, require Borrower to achieve the revenue projections set forth in the new financial plan; or

 

		11.	Section
                                            13 of the Loan Agreement is hereby amended by adding the following definition thereto in
                                            alphabetical order:

 

“First
Amendment Effective Date” is August 9, 2022.

 

“PIPE
Financing” is the sale and issuance of its equity securities in a private placement transaction on or after May 1, 2022, which
sale was announced by Borrower on May 16, 2022, of at least One Hundred Million Dollar ($100,000,000.00) and the receipt by Borrower
of the net proceeds thereof.

 

“Term
D Draw Period” is the period commencing on August 1, 2024 and ending on the earlier of (i) November 1, 2024 and (ii) the occurrence
of an Event of Default (unless such Event of Default is waived by Collateral Agent and Lenders for the purposes of the continuation of
the Term D Draw Period).

 

“Term
D Milestone” is the achievement by Borrower of (i) either (a) Study 1 Arm A (for Borrower’s product candidate Gedatolisib
in combination with Palbociclib and Fulvestrant) reports a statistically significant improvement in progression-free survival relative
to Study 1 Arm C (for Fulvestrant) or (b) Study 1 Arm B (for Borrower’s product candidate Gedatolisib in combination Fulvestrant)
reports a statistically significant improvement in progression-free survival relative to Study 1 Arm C (for Fulvestrant); (ii) Borrower’s
compliance with its obligations under Section 6.12 (without taking into account any cure or remedy for a breach of such obligations)
at all times through quarter ending immediately prior to the Funding Date of the Term D Loan.

 

“Term
E Draw Period” is the period commencing on November 1, 2024 and ending on the earlier of (i) February 28, 2025 and (ii) the
occurrence of an Event of Default (unless such Event of Default is waived by Collateral Agent and Lenders for the purposes of the continuation
of the Term E Draw Period).

 

“Term
E Milestone” is the achievement by Borrower of (i) having submitted an NDA application to the FDA for Borrower’s product
candidate Gedatolisib and (ii) Borrower’s compliance with its obligations under Section 6.12 (without taking into account any cure
or remedy for a breach of such obligations) at all times through quarter ending immediately prior to the Funding Date of the Term E Loan.

 

		12.	Section
                                            13 of the Loan Agreement is hereby further amended by amending and restating the following
                                            definition therein as follows:

 

“Amortization
Date” is (i) May 1, 2025, if the I/O Extension Event does not occur and (ii) May 1, 2026, if the I/O Extension Event occurs.

 

“Basic
Rate” is with respect to each Term Loan, the floating per annum rate of interest (based on a year of three hundred sixty five
(365) days) equal to the sum of (a) greater of (i) Prime Rate, subject to Section 2.3(f), or (ii) Three and Twenty-Five Hundredths percent
(3.25%) plus (b) Five and Seven Tenths percent (5.70%).

 

“Facility
Fee” is a fee due on the Funding Date of the Term A Loan, equal to 1.00% of the amount of the Term A Loan, payable to the Lenders
in accordance with their Pro Rate Shares of the Term A Loan.

 

    	5

    	 

    

 

“Final
Fee” is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest
or any other fee payable hereunder) due on the earliest to occur of (a) the Maturity Date, (b) the acceleration of any Term Loan, or
(c) the prepayment of the Term Loan pursuant to Section 2.2(c) or (d), in each case equal to Four and one-half percent (4.50%) (if such
payment becomes due prior to the third anniversary of the First Amendment Effective Date )multiplied by the aggregate amount of the Term
Loans funded and not converted to Borrower Equity pursuant to Section 2.7, payable to Lenders in accordance with their respective Pro
Rata Shares. For the avoidance of doubt, the calculation of any Final Fee payment shall not include the principal amount prepaid in accordance
with the second paragraph of Section 2.2(d) if a Final Fee payment based on such principal amount was made at the time of such prepayment.
Notwithstanding anything herein to the contrary, if none of the following occur by the date that is the third anniversary of the First
Amendment Effective Date, no Final Fee shall be due and payable: (a) the Maturity Date, (b) the acceleration of any Term Loan, or (c)
the prepayment of the Term Loan pursuant to Section 2.2(c).

 

“I/O
Extension Event” is the achievement by Borrower of the Term D Milestone.

 

“Maturity
Date” is April 8, 2027.

 

“Prepayment
Fee” is, with respect to any Term Loan subject to prepayment prior to the Maturity Date, whether by mandatory or voluntary
prepayment, acceleration or otherwise, an additional fee payable to the Lenders in amount equal to:

 

(i)
for a prepayment made after the date which is the first anniversary of the First Amendment Effective Date through and including the date
which is the third anniversary of the First Amendment Effective Date, one percent (1.00%) of the principal amount (including any applicable
payable in-kind amount) of the Term Loan prepaid;

 

(ii)
for a prepayment made after the date which is the third anniversary of the First Amendment Effective Date and prior to the Maturity Date,
zero percent (0.00%) of the principal amount (including any applicable payable in-kind amount) of the Term Loan prepaid; and

 

(iii)
for a mandatory prepayment made on or after the First Amendment Effective Date and through and included the date that is the first anniversary
of the First Amendment Effective Date, three percent (3.00%) of the principal amount (including any applicable payable in-kind amount)
of the Term Loan prepaid.

 

“Term
B Draw Period” is the period commencing on the First Amendment Effective Date and ending on the earlier of (i) December 31,
2022 or (ii) the occurrence of an Event of Default (unless such Event of Default is waived by Collateral Agent and Lenders for the purposes
of the continuation of the Term B Draw Period).

 

“Term
B Milestone” is (i) the consummation of the PIPE Financing by Borrower and (ii) Borrower’s compliance with its obligations
under Section 6.12 (without taking into account any cure or remedy for a breach of such obligations) at all times through quarter ending
immediately prior to the Funding Date of the Term B Loan.

 

“Term
C Draw Period” is the period commencing on September 1, 2023 and ending on the earlier of (i) April 1, 2024 or (ii) the occurrence
of an Event of Default (unless such Event of Default is waived by Collateral Agent and Lender for the purposes of the Term C Draw Period).

 

“Term
C Milestone” is the achievement of Borrower of (i) at least fifty percent (50%) of the targeted enrollment for the wild-type
Study 1 Arm A and the Study 1 Arm C in the VIKTORIA-1 clinical trial for Borrower’s product candidate Gedatolisib, (ii) the pro
forma aggregate funded principal amount of the Term Loans (i.e., after giving effect to the funding of the Term C Loan) as a percentage
of the volume weighted average market capitalization of Borrower for the 10 trading days immediately preceding the Funding Date of the
Term C Loan is 25% or less and (iii) compliance with its obligations under Section 6.12 (without taking into account any cure or remedy
for a breach of such obligations) at all times through quarter ending immediately prior to the Funding Date of the Term C Loan.

 

		13.	Schedule
                                            1.1 of the Loan Agreement is hereby amended and restated as follows:

 

    	6

    	 

    

 

SCHEDULE
1.1

 

Lenders and Commitments

 

	 	 	Term
    A Loan	 	 	 	 
	Lender	 	Term
    Loan A Commitment	 	 	Commitment
    Percentage	 
	INNOVATUS
    LIFE SCIENCES LENDING FUND I, LP	 	$	15,000,000	 	 	 	100.00	%
	TOTAL	 	$	15,000,000	 	 	 	100.00	%

 

	 	 	Term
    B Loan	 	 	 	 
	Lender	 	Term
    Loan B Commitment	 	 	Commitment
    Percentage	 
	INNOVATUS
    LIFE SCIENCES LENDING FUND I, LP	 	$	20,000,000	 	 	 	100.00	%
	TOTAL	 	$	20,000,000	 	 	 	100.00	%

 

	 	 	Term
    C Loan	 	 	 	 
	Lender	 	Term
    Loan C Commitment	 	 	Commitment
    Percentage	 
	INNOVATUS
    LIFE SCIENCES LENDING FUND I, LP	 	$	10,000,000	 	 	 	100.00	%
	TOTAL	 	$	10,000,000	 	 	 	100.00	%
	 	 	 	 	 	 	 	 	 

 

	 	 	Term
    D Loan	 	 	 	 
	Lender	 	Term
    Loan D Commitment	 	 	Commitment
    Percentage	 
	INNOVATUS
    LIFE SCIENCES LENDING FUND I, LP	 	$	20,000,000	 	 	 	100.00	%
	TOTAL	 	$	20,000,000	 	 	 	100.00	%

 

	 	 	Term
    E Loan	 	 	 	 
	Lender	 	Term
    Loan E Commitment	 	 	Commitment
    Percentage	 
	INNOVATUS
    LIFE SCIENCES LENDING FUND I, LP	 	$	10,000,000	 	 	 	100.00	%
	TOTAL	 	$	10,000,000	 	 	 	100.00	%

 

		14.	Limitation
                                            of Amendment.

 

		a.	The
                                            amendments, consents and waiver set forth above are effective for the purposes set forth
                                            herein and shall be limited precisely as written and shall not be deemed to (a) be a consent
                                            to any amendment, waiver or modification of any other term or condition of any Loan Document,
                                            or (b) otherwise prejudice any right, remedy or obligation which Lenders or Borrower may
                                            now have or may have in the future under or in connection with any Loan Document, as amended
                                            hereby.

 

		b.	This
                                            Amendment shall be construed in connection with and as part of the Loan Documents and all
                                            terms, conditions, representations, warranties, covenants and agreements set forth in the
                                            Loan Documents, are hereby ratified and confirmed and shall remain in full force and effect.

 

    	7

    	 

    

 

		15.	To
                                            induce Collateral Agent and Lenders to enter into this Amendment, Borrower hereby represents
                                            and warrants to Collateral Agent and Lenders as follows:

 

		a.	Immediately
                                            after giving effect to this Amendment (a) the representations and warranties contained in
                                            the Loan Documents are true, accurate and complete in all material respects as of the date
                                            hereof (except to the extent such representations and warranties relate to an earlier date,
                                            in which case they are true and correct as of such date), and (b) no Event of Default (other
                                            than the Existing Defaults) has occurred and is continuing;

 

		b.	Borrower
                                            has the power and due authority to execute and deliver this Amendment and to perform its
                                            obligations under the Loan Agreement, as amended by this Amendment;

 

		c.	The
                                            organizational documents of Borrower delivered to Collateral Agent on the Effective Date,
                                            and updated pursuant to subsequent deliveries by or on behalf of the Borrower to the Collateral
                                            Agent, remain true, accurate and complete and have not been amended, supplemented or restated
                                            and are and continue to be in full force and effect;

 

		d.	The
                                            execution and delivery by Borrower of this Amendment and the performance by Borrower of its
                                            obligations under the Loan Agreement, as amended by this Amendment, do not contravene (i)
                                            any material law or regulation binding on or affecting Borrower, (ii) any material contractual
                                            restriction with a Person binding on Borrower, (iii) any material order, judgment or decree
                                            of any court or other governmental or public body or authority, or subdivision thereof, binding
                                            on Borrower, or (iv) the organizational documents of Borrower;

 

		e.	The
                                            execution and delivery by Borrower of this Amendment and the performance by Borrower of its
                                            obligations under the Loan Agreement, as amended by this Amendment, do not require any order,
                                            consent, approval, license, authorization or validation of, or filing, recording or registration
                                            with, or exemption by any governmental or public body or authority, or subdivision thereof,
                                            binding on Borrower, except as already has been obtained or made; and

 

		f.	This
                                            Amendment has been duly executed and delivered by Borrower and is the binding obligation
                                            of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability
                                            may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other
                                            similar laws of general application and equitable principles relating to or affecting creditors’
                                            rights.

 

		16.	Except
                                            as expressly set forth herein, the Loan Agreement shall continue in full force and effect
                                            without alteration or amendment. This Amendment and the Loan Documents represent the entire
                                            agreement about this subject matter and supersede prior negotiations or agreements.

 

		17.	The
                                            Borrower hereby remises, releases, acquits, satisfies and forever discharges the Lenders
                                            and Collateral Agent, their agents, employees, officers, directors, predecessors, attorneys
                                            and all others acting or purporting to act on behalf of or at the direction of the Lenders
                                            and Collateral Agent (“Releasees”), of and from any and all manner of
                                            actions, causes of action, suit, debts, accounts, covenants, contracts, controversies, agreements,
                                            variances, damages, judgments, claims and demands whatsoever, in law or in equity, which
                                            any of such parties ever had, now has or, to the extent arising from or in connection with
                                            any act, omission or state of facts taken or existing on or prior to the date hereof, may
                                            have after the date hereof against the Releasees, for, upon or by reason of any matter, cause
                                            or thing whatsoever relating to or arising out of the Loan Agreement or the other Loan Documents
                                            on or prior to the date hereof through the date hereof. Without limiting the generality of
                                            the foregoing, the Borrower waives and affirmatively agrees not to allege or otherwise pursue
                                            any defenses, affirmative defenses, counterclaims, claims, causes of action, setoffs or other
                                            rights they do, shall or may have as of the date hereof, including the rights to contest:
                                            (a) the right of Collateral Agent and each Lender to exercise its rights and remedies described
                                            in the Loan Documents; (b) any provision of this Amendment or the Loan Documents; or (c)
                                            any conduct of the Lenders or other Releasees relating to or arising out of the Loan Agreement
                                            or the other Loan Documents on or prior to the date hereof.

 

		18.	This
                                            Amendment shall be deemed effective as of the date first set forth above upon the due execution
                                            and delivery to Collateral Agent of this Amendment by each party hereto.

 

		19.	This
                                            Amendment may be executed in any number of counterparts, each of which shall be deemed an
                                            original, and all of which, taken together, shall constitute one and the same instrument.

 

		20.	This
                                            Amendment and the rights and obligations of the parties hereto shall be governed by and construed
                                            in accordance with the laws of the State of New York.

 

[Balance
of Page Intentionally Left Blank]

 

    	8

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this First Amendment to Loan and Security Agreement to be executed as of the date
first set forth above.

 

	BORROWER:	 
	 	 
	CELCUITY,
    INC.	 
	 	 
	By	/s/
    Brian F. Sullivan	 
	Name: 	Brian
    F. Sullivan	 
	Title:	Chief
    Executive Officer	 

 

COLLATERAL
AGENT AND LENDER:

 

INNOVATUS
LIFE SCIENCES LENDING FUND I, LP

 

By:
Innovatus Life Sciences GP, LP

Its:
General Partner

 

	By	/s/
    Andrew Dym	 
	Name: 	Andrew
    Dym	 
	Title:	Authorized
    Signatory	 

 

    	9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00347-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00347-of-00352.parquet"}]]