Document:

Exhibit 4.5

 

DESCRIPTION
OF THE REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF 

THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

As of January 27, 2021, Clarim
Acquisition Corp. (“we,” “our,” “us” or the “Company”) had the following three classes
of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): (i) its
units, consisting of one share of Class A common stock (as defined below) and one-third of one redeemable warrant (as defined below),
with each whole warrant entitling the holder thereof to purchase one share of Class A common stock (ii) its Class A common stock, $0.0001
par value per share (the “Class A common stock”), and (iii) its public warrants, with each whole warrant exercisable for one
share of class A common stock for $11.50 per share (the “warrants”).

 

Pursuant
to our amended and restated certificate of incorporation, our authorized capital stock consists of 340,000,000 shares of
common stock, including 320,000,000 shares of Class A common stock and 20,000,000 shares of Class B common
stock, $0.0001 par value, and 1,000,000 shares of undesignated preferred stock, $0.0001 par value. The following description
summarizes the material terms of our capital stock and does not purport to be complete. It is subject to, and qualified in its
entirety by reference to, our amended and restated certificate of incorporation, our bylaws and our warrant agreement, each of
which is incorporated by reference as an exhibit to our Annual Report on Form 10-K for the year ended December 31, 2020 (the “Report”)
of which this Exhibit 4.5 is a part.

 

Defined
terms used herein but not otherwise defined shall have the meaning ascribed to such terms in the Company’s Annual Report
on Form 10-K for the year ended December 31, 2020 (the “Report”).

 

Units

 

Each
unit consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder
thereof to purchase one share of our Class A common stock at a price of $11.50 per share, subject to adjustment as described in
this Report. Only whole warrants are exercisable. No fractional warrants will be issued upon separation of the units and only
whole warrants will trade.

 

Class
A Common Stock

 

Common
stockholders of record are entitled to one vote for each share held on all matters to be voted on by stockholders. Holders of
record of the Class A common stock and holders of record of the Class B common stock will vote together as a single
class on all matters submitted to a vote of our stockholders, with each share of common stock entitling the holder to one vote
except as required by law. There is no cumulative voting with respect to the election of directors, with the result that the holders
of more than 50% of the shares voted for the election of directors can elect all of the directors. Our stockholders are entitled
to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor.

 

We
will provide our stockholders with the opportunity to redeem all or a portion of their public shares upon the completion of our
initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the
trust account as of two business days prior to the consummation of our initial business combination, including interest earned
on the funds held in the trust account and not previously released to us to pay our taxes, divided by the number of then outstanding
public shares, subject to the limitations described herein. Our sponsor, officers and directors have entered into a letter agreement
with us, pursuant to which they have agreed to waive their redemption rights with respect to any founder shares and any public
shares held by them in connection with the completion of our initial business combination.

 

If
we seek stockholder approval of our initial business combination and we do not conduct redemptions in connection with our initial
business combination pursuant to the tender offer rules, our amended and restated certificate of incorporation provides that a
public stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in
concert or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted from redeeming
its shares with respect to more than an aggregate of 15% of the shares of common stock sold in our initial public offering, which
we refer to as the Excess Shares. However, we would not be restricting our stockholders’ ability to vote all of their shares
(including Excess Shares) for or against our initial business combination. Our stockholders’ inability to redeem the Excess
Shares will reduce their influence over our ability to complete our initial business combination, and such stockholders could
suffer a material loss in their investment if they sell such Excess Shares on the open market. Additionally, such stockholders
will not receive redemption distributions with respect to the Excess Shares if we complete the initial business combination. And,
as a result, such stockholders will continue to hold that number of shares exceeding 15% and, in order to dispose such shares
would be required to sell their stock in open market transactions, potentially at a loss.

 

     

     

    

 

In
the event of a liquidation, dissolution or winding up of the Company after an initial business combination, our stockholders are
entitled to share ratably in all assets remaining available for distribution to them after payment of liabilities and after provision
is made for each class of stock, if any, having preference over the common stock. Our stockholders have no preemptive or other
subscription rights. There are no sinking fund provisions applicable to the common stock, except that we will provide our stockholders
with the opportunity to redeem their public shares for cash equal to their pro rata share of the aggregate amount
then on deposit in the trust account, including interest (which will be net of taxes paid by us) upon the completion of our initial
business combination, subject to the limitations described in the Report.

 

Redeemable
Warrants

 

Each
whole warrant entitles the registered holder to purchase one share of our Class A common stock at a price of $11.50 per share,
subject to adjustment as discussed below, at any time commencing on the later of February 2, 2022 and 30 days after the completion
of our initial business combination. Pursuant to the warrant agreement, a warrantholder may exercise its warrants only for a whole
number of Class A common stock.

 

The
warrants will expire five years after the completion of our initial business combination, at 5:00 p.m., New York City time,
or earlier upon redemption or liquidation.

 

We
will not be obligated to deliver any shares of Class A common stock pursuant to the exercise of a warrant and will have no
obligation to settle such warrant exercise unless a registration statement under the Securities Act with respect to the shares
of Class A common stock underlying the warrants is then effective and a current prospectus relating thereto is current, subject
to our satisfying our obligations described below with respect to registration. No warrant will be exercisable, and we will not
be obligated to issue shares of Class A common stock upon exercise of a warrant unless Class A common stock issuable
upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence
of the registered holder of the warrants. In the event that the conditions in the two immediately preceding sentences are not
satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant
may have no value and expire worthless. In no event will we be required to net cash settle any warrant. In the event that a registration
statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant, if not cash settled, will
have paid the full purchase price for the unit solely for the share of Class A common stock underlying such unit.

 

We
have agreed that as soon as practicable, but in no event later than 15 business days after the closing of our initial business
combination, we will use our best efforts to file with the SEC a registration statement registering the issuance of the shares
of Class A common stock issuable upon exercise of the warrants, to cause such registration statement to become effective
and to maintain a current prospectus relating to those shares of Class A common stock until the warrants expire or are redeemed,
as specified in the warrant agreement. If a registration statement covering the shares of Class A common stock issuable upon
exercise of the warrants is not effective by the 60th business day after the closing of our initial business combination
or within a specified period following the consummation of our initial business combination, warrantholders may, until such time
as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration
statement, exercise warrants on a “cashless basis” pursuant to the exemption provided by Section 3(a)(9) of the
Securities Act; provided that such exemption is available. If that exemption, or another exemption, is not available, holders
will not be able to exercise their warrants on a cashless basis.

 

Redemption
of warrants when the price per share of Class A common stock equals or exceeds $18.00.

 

Once
the warrants become exercisable, we may call the warrants for redemption:

 

		●	in
whole and not in part;

 

		●	at
a price of $0.01 per warrant;

 

		●	upon
not less than 30 days’ prior written notice of redemption (the “30-day redemption period”) to each
warrantholder; and

 

		●	if,
and only if, the reported closing price of the Class A common stock equals or exceeds $18.00 per share (as adjusted for stock
splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day
period ending three business days before we send the notice of redemption to the warrantholders.

 

If
and when the warrants become redeemable by us, we may not exercise our redemption right if the issuance of shares of common stock
upon exercise of the warrants is not exempt from registration or qualification under applicable state blue sky laws or we are
unable to effect such registration or qualification. We will use our best efforts to register or qualify such shares of common
stock under the blue sky laws of the state of residence in those states in which the warrants were initially offered by us in
our initial public offering.

 

    2

     

    

 

Redemption
of warrants when the price per share of Class A common stock equals or exceeds $10.00.

 

Once
the warrants become exercisable, we may redeem the outstanding warrants:

 

		●	in
whole and not in part;

 

		●	at
$0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption provided that holders will be
able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined by reference
to the table below, based on the redemption date and the “fair market value” (as defined below) of our Class A
common stock except as otherwise described below;

 

		●	if,
and only if, the closing price of our Class A common stock equals or exceeds $10.00 per public share (as adjusted for adjustments
to the number of shares issuable upon exercise or the exercise price of a warrant) for any 20 trading days within the 30-trading day
period ending three trading days before we send the notice of redemption to the warrant holders; and

 

		●	if
the closing price of our Class A common stock for any 20 trading days within a 30-trading day period ending three trading
days before we send notice of redemption to the warrant holders is less than $18.00 per share (as adjusted for adjustments to
the number of shares issuable upon exercise or the exercise price of a warrant), the private placement warrants must also be concurrently
called for redemption on the same terms as the outstanding public warrants, as described above.

 

Beginning
on the date the notice of redemption is given until the warrants are redeemed or exercised, holders may elect to exercise their
warrants on a cashless basis. The numbers in the table below represent the number of shares of Class A common stock that
a warrant holder will receive upon such cashless exercise in connection with a redemption by us pursuant to this redemption feature,
based on the “fair market value” of our Class A common stock on the corresponding redemption date (assuming holders
elect to exercise their warrants and such warrants are not redeemed for $0.10 per warrant), determined for these purposes based
on volume weighted average price of our Class A common stock during the ten trading days immediately following the date on
which the notice of redemption is sent to the holders of warrants, and the number of months that the corresponding redemption
date precedes the expiration date of the warrants, each as set forth in the table below. We will provide our warrant holders with
the final fair market value no later than one business day after the 10-trading day period described above ends. Pursuant
to the warrant agreement, references above to Class A common stock shall include a security other than Class A common
stock into which the Class A common stock have been converted or exchanged for in the event we are not the surviving company
in our initial business combination. The numbers in the table below will not be adjusted when determining the number of shares
of Class A common stock to be issued upon exercise of the warrants if we are not the surviving entity following our initial
business combination.

 

The
share prices set forth in the column headings of the table below will be adjusted as of any date on which the number of shares
issuable upon exercise of a warrant or the exercise price of a warrant is adjusted as set forth under the heading “—
Anti-dilution Adjustments” below. If the number of shares issuable upon exercise of a warrant is adjusted, the adjusted
share prices in the column headings will equal the share price immediately prior to such adjustment, multiplied by a fraction,
the numerator of which is the number of shares deliverable upon exercise of a warrant immediately prior to such adjustment and
the denominator of which is the number of shares deliverable upon exercise of a warrant as so adjusted. The number of shares in
the table below shall be adjusted in the same manner and at the same time as the number of shares issuable upon exercise of a
warrant. If the exercise price of a warrant is adjusted, (a) in the case of an adjustment pursuant to the fifth paragraph
under the heading “— Anti-dilution Adjustments” below, the adjusted share prices in the column headings
will equal the unadjusted share price multiplied by a fraction, the numerator of which is the higher of (i) the volume weighted
average trading price of the company’s common stock during the 20 trading day period starting on the trading day prior to
the day on which the company consummates its initial business combination (such price, the “Market Value”) and (ii)
the Newly Issued Price as defined under the heading “— Anti-dilution Adjustments” below, and the denominator
of which is $10.00 and (b) in the case of an adjustment pursuant to the second paragraph under the heading “—
Anti-dilution Adjustments” below, the adjusted share prices in the column headings will equal the unadjusted share
price less the decrease in the exercise price of a warrant pursuant to such exercise price adjustment.

 

    3

     

    

 

	Redemption
    Date

    (period to expiration of warrants)	 	Fair
    Market Value of Class A Common Stock	 
	<10.00	 	11.00	 	12.00	 	13.00	 	14.00	 	15.00	 	16.00	 	17.00	 	>18.00	 
	60
    months	 	0.261	 	0.281	 	0.297	 	0.311	 	0.324	 	0.337	 	0.348	 	0.358	 	0.361	 
	57
    months	 	0.257	 	0.277	 	0.294	 	0.310	 	0.324	 	0.337	 	0.348	 	0.358	 	0.361	 
	54
    months	 	0.252	 	0.272	 	0.291	 	0.307	 	0.322	 	0.335	 	0.347	 	0.357	 	0.361	 
	51
    months	 	0.246	 	0.268	 	0.287	 	0.304	 	0.320	 	0.333	 	0.346	 	0.357	 	0.361	 
	48
    months	 	0.241	 	0.263	 	0.283	 	0.301	 	0.317	 	0.332	 	0.344	 	0.356	 	0.361	 
	45
    months	 	0.235	 	0.258	 	0.279	 	0.298	 	0.315	 	0.330	 	0.343	 	0.356	 	0.361	 
	42
    months	 	0.228	 	0.252	 	0.274	 	0.294	 	0.312	 	0.328	 	0.342	 	0.355	 	0.361	 
	39
    months	 	0.221	 	0.246	 	0.269	 	0.290	 	0.309	 	0.325	 	0.340	 	0.354	 	0.361	 
	36
    months	 	0.213	 	0.239	 	0.263	 	0.285	 	0.305	 	0.323	 	0.339	 	0.353	 	0.361	 
	33
    months	 	0.205	 	0.232	 	0.257	 	0.280	 	0.301	 	0.320	 	0.337	 	0.352	 	0.361	 
	30
    months	 	0.196	 	0.224	 	0.250	 	0.274	 	0.297	 	0.316	 	0.335	 	0.351	 	0.361	 
	27
    months	 	0.185	 	0.214	 	0.242	 	0.268	 	0.291	 	0.313	 	0.332	 	0.350	 	0.361	 
	24
    months	 	0.173	 	0.204	 	0.233	 	0.260	 	0.285	 	0.308	 	0.329	 	0.348	 	0.361	 
	21
    months	 	0.161	 	0.193	 	0.223	 	0.252	 	0.279	 	0.304	 	0.326	 	0.347	 	0.361	 
	18
    months	 	0.146	 	0.179	 	0.211	 	0.242	 	0.271	 	0.298	 	0.322	 	0.345	 	0.361	 
	15
    months	 	0.130	 	0.164	 	0.197	 	0.230	 	0.262	 	0.291	 	0.317	 	0.342	 	0.361	 
	12
    months	 	0.111	 	0.146	 	0.181	 	0.216	 	0.250	 	0.282	 	0.312	 	0.339	 	0.361	 
	9
    months	 	0.090	 	0.125	 	0.162	 	0.199	 	0.237	 	0.272	 	0.305	 	0.336	 	0.361	 
	6
    months	 	0.065	 	0.099	 	0.137	 	0.178	 	0.219	 	0.259	 	0.296	 	0.331	 	0.361	 
	3
    months	 	0.034	 	0.065	 	0.104	 	0.150	 	0.197	 	0.243	 	0.286	 	0.326	 	0.361	 
	0
    months	 	—	 	—	 	0.042	 	0.115	 	0.179	 	0.233	 	0.281	 	0.323	 	0.361	 

 

The
exact fair market value and redemption date may not be set forth in the table above, in which case, if the fair market value is
between two values in the table or the redemption date is between two redemption dates in the table, the number of shares of Class A
common stock to be issued for each warrant exercised will be determined by a straight-line interpolation between the number
of shares set forth for the higher and lower fair market values and the earlier and later redemption dates, as applicable, based
on a 365 or 366-day year, as applicable. For example, if the volume weighted average price of our Class A common stock
during the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of the warrants
is $11.00 per share, and at such time there are 57 months until the expiration of the warrants, holders may choose to, in
connection with this redemption feature, exercise their warrants for 0.277 Class A common stock for each whole warrant. For
an example where the exact fair market value and redemption date are not as set forth in the table above, if the volume weighted
average price of our Class common stock during the 10 trading days immediately following the date on which the notice of
redemption is sent to the holders of the warrants is $13.50 per share, and at such time there are 38 months until the expiration
of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants for 0.298 Class A
common stock for each whole warrant. In no event will the warrants be exercisable on a cashless basis in connection with this
redemption feature for more than 0.361 shares of Class A common stock per warrant (subject to adjustment). Finally,
as reflected in the table above, if the warrants are out of the money and about to expire, they cannot be exercised on a cashless
basis in connection with a redemption by us pursuant to this redemption feature, since they will not be exercisable for any shares
of Class A common stock.

 

Holders
choosing to exercise their warrants in connection with a redemption pursuant to this feature will, in effect, receive a number
of shares for their warrants based on an option pricing model with a fixed volatility input as of the date of this Report. This
redemption right provides us with an additional mechanism by which to redeem all of the outstanding warrants, and therefore have
certainty as to our capital structure as the warrants would no longer be outstanding and would have been exercised or redeemed
and we will be required to pay the redemption price to warrant holders if we choose to exercise this redemption right and it will
allow us to quickly proceed with a redemption of the warrants if we determine it is in our best interest to do so. As such, we
would redeem the warrants in this manner when we believe it is in our best interest to update our capital structure to remove
the warrants and pay the redemption price to the warrant holders.

 

As
stated above, we can redeem the warrants when the Class A common stock are trading at a price starting at $10.00, which is
below the exercise price of $11.50, because it will provide certainty with respect to our capital structure and cash position
while providing warrant holders with the opportunity to exercise their warrants on a cashless basis for the applicable number
of shares. If we choose to redeem the warrants when the Class A common stock are trading at a price below the exercise price
of the warrants, this could result in the warrant holders receiving fewer Class A common stock than they would have received
if they had chosen to wait to exercise their warrants for Class A common stock if and when such Class A common stock
were trading at a price higher than the exercise price of $11.50.

 

    4

     

    

 

No
fractional shares of Class A common stock will be issued upon exercise. If, upon exercise, a holder would be entitled to
receive a fractional interest in a share, we will round down to the nearest whole number of the number of Class A common
stock to be issued to the holder. If, at the time of redemption, the warrants are exercisable for a security other than the shares
of Class A common stock pursuant to the warrant agreement (for instance, if we are not the surviving company in our initial
business combination), the warrants may be exercised for such security. At such time as the warrants become exercisable for a
security other than the Class A common stock, the Company (or surviving company) will use its commercially reasonable efforts
to register under the Securities Act the security issuable upon exercise of the warrants.

 

Redemption
Procedures

 

If
we call the warrants for redemption for cash as described above, our management will have the option to require any holder that
wishes to exercise its warrant to do so on a cashless basis. In determining whether to require all holders to exercise their warrants
on a cashless basis, our management will consider, among other factors, our cash position, the number of warrants that are outstanding
and the dilutive effect on our stockholders of issuing the maximum number of shares of Class A common stock issuable upon
the exercise of our warrants. If our management takes advantage of this option, all holders of warrants would pay the exercise
price by surrendering their warrants for that number of shares of Class A common stock equal to the lesser of (i) the quotient
obtained by dividing (x) the product of the number of shares of Class A common stock underlying the warrants multiplied
by and the excess of the “fair market value” (defined below) over the exercise price of the warrants by (y) the
fair market value and (ii) 0.361 per whole warrant. The “fair market value” shall mean the average reported closing
price of the Class A common stock for the 10 trading days ending on the third trading day prior to the date on which the
notice of redemption is sent to the holders of warrants. If our management takes advantage of this option, the notice of redemption
will contain the information necessary to calculate the number of shares of Class A common stock to be received upon exercise
of the warrants, including the “fair market value” in such case. Requiring a cashless exercise in this manner will
reduce the number of shares to be issued and thereby lessen the dilutive effect of a warrant redemption. We believe this feature
is an attractive option to us if we do not need the cash from the exercise of the warrants after our initial business combination.
If we call our warrants for redemption and our management does not take advantage of this option, our sponsor and its permitted
transferees would still be entitled to exercise their private placement warrants for cash or on a cashless basis using the same
formula described above that other warrantholders would have been required to use had all warrantholders been required to exercise
their warrants on a cashless basis, as described in more detail below.

 

A
holder of a warrant may notify us in writing in the event it elects to be subject to a requirement that such holder will not have
the right to exercise such warrant, to the extent that after giving effect to such exercise, such person (together with such person’s
affiliates), to the warrant agent’s actual knowledge, would beneficially own in excess of 4.9% or 9.8% (or such other amount
as a holder may specify) of the shares of Class A common stock outstanding immediately after giving effect to such exercise.

 

Anti-Dilution and Other Adjustments

 

The warrant agreement includes
an Alternative Issuance provision that if less than 70% of the consideration receivable by the holders of the Class A common stock in
the Business Combination is payable in the form of common stock in the successor entity, and if the holders of warrants properly exercises
the warrants within thirty days following the public disclosure of the consummation of the Business Combination by the Company, the warrant
price shall be reduced by an amount (but in no event less than zero) equal to the difference of (i) the warrant price in effect prior
to such reduction minus (ii) (A) the Per Share Consideration (as defined below) minus (B) the Black-Scholes Warrant Value (as defined
below). The “Black-Scholes Warrant Value” means the value of a warrant immediately prior to the consummation of the Business
Combination based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg Financial Markets. “Per Share Consideration”
means (i) if the consideration paid to holders of the common stock consists exclusively of cash, the amount of such cash per share of
common stock, and (ii) in all other cases, the amount of cash per share of common stock, if any, plus the volume weighted average price
of the common stock as reported during the ten-trading day period ending on the trading day prior to the effective date of the Business
Combination

 

If
the number of outstanding shares of Class A common stock is increased by a stock dividend payable in shares of Class A
common stock, or by a split-up of shares of Class A common stock or other similar event, then, on the effective date
of such stock dividend, split-up or similar event, the number of shares of Class A common stock issuable on exercise
of each warrant will be increased in proportion to such increase in the outstanding shares of Class A common stock. A rights
offering to holders of Class A common stock entitling holders to purchase shares of Class A common stock at a price
less than the fair market value will be deemed a stock dividend of a number of shares of Class A common stock equal to the
product of (i) the number of shares of Class A common stock actually sold in such rights offering (or issuable under
any other equity securities sold in such rights offering that are convertible into or exercisable for Class A common stock)
and (ii) one minus the quotient of (x) the price per share of Class A common stock paid in such rights offering
divided by (y) the fair market value. For these purposes (i) if the rights offering is for securities convertible into
or exercisable for Class A common stock, in determining the price payable for Class A common stock, there will be taken
into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion
and (ii) fair market value means the volume weighted average price of Class A common stock as reported during the 10
trading day period ending on the trading day prior to the first date on which the shares of Class A common stock trade on
the applicable exchange or in the applicable market, regular way, without the right to receive such rights.

 

In
addition, if we, at any time while the warrants are outstanding and unexpired, pay a dividend or make a distribution in cash,
securities or other assets to the holders of Class A common stock on account of such shares of Class A common stock
(or other shares of our capital stock into which the warrants are convertible), other than (a) as described above, (b) certain
ordinary cash dividends, (c) to satisfy the redemption rights of the holders of Class A common stock in connection with
a proposed initial business combination, (d) to satisfy the redemption rights of the holders of Class A common stock
in connection with a stockholder vote to amend our amended and restated certificate of incorporation (i) to modify the substance
or timing of our obligation to provide for the redemption of our public shares in connection with an initial business combination
or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing
of this offering or (ii) with respect to any other material provisions relating to stockholders’ rights or pre-initial business
combination activity, or (e) in connection with the redemption of our public shares upon our failure to complete our initial
business combination, then the warrant exercise price will be decreased, effective immediately after the effective date of such
event, by the amount of cash and/or the fair market value of any securities or other assets paid on each share of Class A
common stock in respect of such event.

 

    5

     

    

 

If
the number of outstanding shares of our Class A common stock is decreased by a consolidation, combination, reverse stock
split or reclassification of shares of Class A common stock or other similar event, then, on the effective date of such consolidation,
combination, reverse stock split, reclassification or similar event, the number of shares of Class A common stock issuable
on exercise of each warrant will be decreased in proportion to such decrease in outstanding shares of Class A common stock.

 

Whenever
the number of shares of Class A common stock purchasable upon the exercise of the warrants is adjusted, as described above,
the warrant exercise price will be adjusted by multiplying the warrant exercise price immediately prior to such adjustment by
a fraction (x) the numerator of which will be the number of shares of Class A common stock purchasable upon the exercise
of the warrants immediately prior to such adjustment, and (y) the denominator of which will be the number of shares of Class A
common stock so purchasable immediately thereafter.

 

In
addition, if (x) we issue additional shares of Class A common stock or equity-linked securities for capital raising purposes
in connection with the closing of our initial business combination at a price of less than $9.20 per share of Class A common stock
(with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any
such issuance to our sponsor or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates,
as applicable, prior to such issuance) (such price, the “Newly Issued Price”), (y) the aggregate gross proceeds from
such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial
business combination on the date of the consummation of our initial business combination (net of redemptions), and (z) the Market
Value is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115%
of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption trigger price will be adjusted (to
the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption
trigger price will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price.

 

The
warrants will be issued in registered form under a warrant agreement between Continental, as warrant agent, and us. You should
review a copy of the warrant agreement, which was filed with the Registration Statement, for a complete description of the terms
and conditions applicable to the warrants. The warrant agreement provides that the terms of the warrants may be amended without
the consent of any holder to cure any ambiguity or correct any mistake, including to conform the provisions of the warrant agreement
to the description of the terms of the warrants and the warrant agreement set forth in this report, or to correct any defective
provision, but requires the approval by the holders of at least a majority of the then outstanding public warrants to make any
change that adversely affects the interests of the registered holders of public warrants and, solely with respect to any amendment
to the terms of the private placement warrants, a majority of the then outstanding private placement warrants.

 

The
warrants may be exercised upon surrender of the warrant certificate on or prior to the expiration date at the offices of the warrant
agent, with the exercise form on the reverse side of the warrant certificate completed and executed as indicated, accompanied
by full payment of the exercise price (or on a cashless basis, if applicable), by certified or official bank check payable to
us, for the number of warrants being exercised. The warrantholders do not have the rights or privileges of holders of Class A
common stock or any voting rights until they exercise their warrants and receive shares of Class A common stock. After the
issuance of shares of Class A common stock upon exercise of the warrants, each holder will be entitled to one vote for each
share held of record on all matters to be voted on by stockholders.

 

No
fractional shares will be issued upon exercise of the warrants. If, upon exercise of the warrants, a holder would be entitled
to receive a fractional interest in a share, we will, upon exercise, round down to the nearest whole number of shares of Class A
common stock to be issued to the warrantholder. As a result, warrantholders not purchasing an even number of warrants must sell
any odd number of warrants in order to obtain full value from the fractional interests that will not be issued.

 

    6EX-4.2

 Exhibit 4.2 

BERKSHIRE HATHAWAY INC. 

OFFICERS’ CERTIFICATE 

ESTABLISHING TERMS OF 0.173% SENIOR NOTES DUE 2026 

April 15, 2021 
 The
undersigned, Marc D. Hamburg and Robert P. Reeson, do hereby certify pursuant to Section 3.01 of that certain Indenture, dated as of January 26, 2016 (the “Indenture”), among Berkshire Hathaway Inc. (the
“Company”), Berkshire Hathaway Finance Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee, that: 

1. They are (i) the Senior Vice President and Chief Financial Officer and (ii) the Assistant Secretary, respectively, of the Company.

 2. As such officers, they are authorized to execute and deliver this Officers’ Certificate on behalf of the Company. 

3. Attached hereto as Annex A is a true and correct copy of a specimen note representing the Company’s 0.173% Senior Notes
due 2026 (the “Notes”). 
 4. The Notes are a separate series of Securities under the Indenture. The form of Notes attached
hereto as Annex A is incorporated herein by reference. 
 5. The title of the Notes shall be the “0.173% Senior Notes due
2026.” The Notes will be the Company’s unsecured senior obligations, will rank pari passu in right of payment with all of the Company’s unsubordinated, unsecured indebtedness and will be senior in right of payment to all of the
Company’s subordinated indebtedness. 
 6. The Company will initially issue ¥40,000,000,000 aggregate principal amount of Notes. The
Company may issue additional Notes from time to time after the date hereof, and such Notes will be treated as part of the same series of Notes for all purposes under the Indenture. 

7. The principal amount of the Notes will mature on April 15, 2026. 

8. The Notes are issuable in minimum denominations of ¥100,000,000 and integral multiples of ¥10,000,000 in excess thereof. 

9. Interest on the Notes for any full semi-annual interest period will be computed on the basis of a
360-day year of twelve 30-day months. The amount of interest payable for any period shorter than a full semi-annual interest period for which interest is computed will
be computed on the basis of 30-day months and, for periods of less than a month, the actual number of days elapsed per 30-day month. 

  
 - 1 - 

 10. The Notes will bear interest from April 15, 2021 at the rate of 0.173% per annum,
payable on each April 15 and October 15, commencing on October 15, 2021, to the holders of record of the Notes at the close of business on the preceding April 1 and October 1 (whether or not a Business Day), as the case may
be, immediately preceding such April 15 or October 15, or if the Notes are represented by one or more global securities, the close of business on the business day (for this purpose a day on which Euroclear Bank S.A/N.V.
(“Euroclear”) and Clearstream Banking, société anonyme (“Clearstream”) are open for business) immediately preceding the interest payment date. 

11. Payment of the principal of and premium, if any, and interest on the Notes will be made at the office or agency of the Company maintained
for that purpose in the City of London, England, which shall be initially the corporate trust office of The Bank of New York Mellon, London Branch, located at One Canada Square, London E14 5AL; provided, however, that at the option of
the Company payments of principal, premium or interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, subject to surrender at such office or agency, in the case of
payments of principal or premium. 
 12. All payments of interest and principal on the Notes, including payments made upon any redemption of
the Notes, will be made in yen. If the yen is unavailable to the Company due to the imposition of exchange controls or other circumstances beyond the Company’s control, then all payments in respect of the Notes will be made in United States
dollars until the yen is again available to the Company or so used. The amount payable on any date in yen will be converted into U.S. dollars at the rate mandated by the U.S. Federal Reserve Board as of the close of business on the second Business
Day prior to the relevant payment date or, in the event the U.S. Federal Reserve Board has not mandated a rate of conversion, on the basis of the then most recent U.S. dollar/yen exchange rate published in The Wall Street Journal on or prior to the
second Business Day prior to the relevant payment date or, in the event the Wall Street Journal has not published such exchange rate, the rate will be determined in the Company’s sole discretion on the basis of the most recently available
market exchange rate for yen (in each case, the “Market Exchange Rate”). The Market Exchange Rate most recently available on, or prior to, the second Business Day before the relevant determination date will be the basis for
determining the equivalent of yen in the currency of the United States of America for any purpose under the Indenture, including for purposes of the definition of “Outstanding” in Section 1.01(f) of the Indenture. Any payment in
respect of the Notes so made in U.S. dollars will not constitute an Event of Default under the Notes or the Indenture. Neither the Trustee nor the Paying Agent shall have any responsibility for any calculation or conversion in connection with the
foregoing. 
 13. The Notes will initially be issued in the form of one or more Global Securities and registered in the name of the nominee
of the common depositary for the accounts of Clearstream and Euroclear. The Bank of New York Mellon, London Branch shall initially serve as the Depositary for such Global Securities. 

14. The Paying Agent for the Notes will be The Bank of New York Mellon, London Branch. Notwithstanding the foregoing, upon notice to the
Trustee, the Company may change the Paying Agent. 
 15. The Notes shall be defeasible in whole or in part pursuant to the terms of the
Indenture, including, without limitation, Section 13.02 and Section 13.03 of the Indenture. 

  
 - 2 - 

 16. The Company will be obligated to pay additional amounts on the Notes as described under
the heading “Payment of Additional Amounts” in the form of the Notes incorporated herein by reference (such amounts, the “Additional Amounts”). 

At least 10 days prior to the first Interest Payment Date and at least 10 days prior to each date of payment of principal or interest on the
Notes if there has been a change with respect to the matters set forth in the below-mentioned Officers’ Certificate last delivered to the Trustee and the principal Paying Agent, if other than the Trustee, the Company shall furnish to the
Trustee and the principal Paying Agent, if other than the Trustee, an Officers’ Certificate instructing the Trustee and such Paying Agent whether such payment of principal or interest on the Notes shall be made to Holders without withholding or
deduction for or on account of any taxes described under the heading “Payment of Additional Amounts” in the form of the Notes incorporated herein by reference. If any such withholding or deduction shall be required, then such
Officers’ Certificate shall specify by country the amount, if any, required to be withheld or deducted on such payments to such Holders and shall certify the fact that Additional Amounts will be payable and the amounts so payable to each
Holder, and the Company shall pay to the Trustee or such Paying Agent such Additional Amounts required to be paid under the Notes. 

Whenever in the Notes there is mentioned, in any context, the payment of the principal of or any premium, interest or any other amounts on, or
in respect of, the Notes, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the terms hereof, and
express mention of the payment of Additional Amounts in any provision of the Notes shall not be construed as excluding the payment of Additional Amounts in those provisions thereof where such express mention is not made. 

17. The Notes may be redeemed in whole or in part pursuant to the terms set forth in the form of the Notes incorporated herein by reference.
The Company shall give the Trustee notice of the redemption price promptly after the calculation thereof and the Trustee shall have no responsibility for such calculation. Prior to the giving of any notice of redemption with respect to a redemption
arising from the payment of Additional Amounts, the Company shall deliver to the Trustee an Officers’ Certificate to the effect that all conditions precedent provided for in the Indenture to such redemption have been complied with. 

18. The Note and the authentication pages to the Note may be executed in any number of counterparts, each of which shall be deemed an original,
but all of which shall constitute one and the same instrument. The Trustee may authenticate the Note by manual, facsimile or electronic signature. Electronically imaged signatures such as .pdf files, faxed signatures or other electronic signatures
to the Note and the authentication pages to the Note shall have the same effect as original signatures. 
 All capitalized terms used herein
and not otherwise defined shall have the meanings given such terms in the Indenture. 
 [Remainder of page intentionally left blank.]

  
 - 3 - 

 IN WITNESS WHEREOF, this Officers’ Certificate has been executed by the undersigned as
of date first written above. 
  

	
	 /s/ Marc D. Hamburg

	Name:Marc D. Hamburg
	Title:Senior Vice President and Chief Financial Officer
	
	 /s/ Robert P. Reeson

	Name:Robert P. Reeson
	Title:Assistant Secretary

 [BRK Officers’ Certificate Establishing Terms of 0.173% Senior Notes due 2026 (JPY)] 

 ANNEX A 

SPECIMEN OF NOTE 

 0.173% Senior Notes due 2026 

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

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

 Dated: April 15, 2021 

 THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS DEBT SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS DEBT SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY
PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR BANK, S.A./N.V., AS OPERATOR OF THE EUROCLEAR SYSTEM (“EUROCLEAR”), AND CLEARSTREAM BANKING, SOCIÉTÉ ANONYME, LUXEMBOURG (“CLEARSTREAM” AND, TOGETHER WITH
EUROCLEAR, “EUROCLEAR/CLEARSTREAM”), TO BERKSHIRE HATHAWAY INC. OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR
IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR/CLEARSTREAM (AND ANY PAYMENT IS MADE TO THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
EUROCLEAR/CLEARSTREAM), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, HAS AN INTEREST HEREIN. 

 BERKSHIRE HATHAWAY INC. 

************************** 

0.173% Senior Notes due 2026 

CUSIP: 084670 CU0 

ISIN: XS2329014620 

COMMON CODE: 232901462 
  

			
	No.	  	¥
		  	 (as revised by the Schedule of Increases and

Decreases in Global Security attached hereto)

 BERKSHIRE HATHAWAY INC., a corporation duly organized and existing under the laws of the State of Delaware
(herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to The Bank of New York Depository (Nominees) Limited, the registered Holder
hereof, as nominee of The Bank of New York Mellon, London Branch as common depositary for Euroclear Bank, S.A./N.V. (“Euroclear”) and Clearstream Banking, société anonyme (“Clearstream”), the principal sum of
                        Yen (¥
                        ) (as revised by the Schedule of Increases and Decreases in Global Security
attached hereto) on April 15, 2026, and to pay interest thereon from and including April 15, 2021 or from and including the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for,
semi-annually on April 15 and October 15 in each year, commencing October 15, 2021 (each an “Interest Payment Date”), at the rate of 0.173% per annum (as adjusted, if at all, pursuant to such Indenture, the “Interest
Rate”), until the principal hereof is paid or made available for payment; provided that any principal, and any such installment of interest, which is overdue shall bear interest at the Interest Rate (to the extent that the payment of
such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. Interest on the Debt Securities of this series for any full semi-annual
interest period will be computed on the basis of a 360-day year of twelve 30-day months. The amount of interest payable for any period shorter than a full semi-annual
interest period for which interest is computed will be computed on the basis of 30-day months and, for periods of less than a month, the actual number of days elapsed per
30-day month. 
 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 (whether or not a Business Day) for
such interest. 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 Debt 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 such Indenture. 

 “Business Day” means any day, other than a Saturday or Sunday, that is not a day
on which banking institutions in the Borough of Manhattan, The City of New York or London or Tokyo are authorized or required by law, regulation or executive order to close and that is a day on which the Trans-European Automated Real-time Gross
Settlement Express Transfer System (the TARGET2 system), or any successor thereto, operates. 
 “Regular Record Date” means, with
respect to any Interest Payment Date, the April 1 and October 1 (whether or not a Business Day) or, if this Debt Security is represented by one or more Global Securities, the close of business on the business day (for this purpose a day on
which Clearstream and Euroclear are open for business), in each case, immediately preceding such Interest Payment Date. 
 Payment of the
principal of and premium, if any, and interest on this Debt Security will be made at the office or agency of the Company maintained for that purpose in the City of London, England, which shall be initially the corporate trust office of The Bank of
New York Mellon, London Branch, located at One Canada Square, London E14 5AL; provided, however, that at the option of the Company payments of principal, premium or interest may be made by check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register, subject to surrender at such office or agency, in the case of payments of principal or premium. 

All payments on this Debt Security will be made in yen; provided, that if on or after April 8, 2021, the yen is unavailable to the
Company due to the imposition of exchange controls or other circumstances beyond the Company’s control, then all payments in respect of this Debt Security will be made in U.S. dollars until the yen is again available to the Company or so used.
The amount payable on any date in yen will be converted into U.S. dollars at the rate mandated by the U.S. Federal Reserve Board as of the close of business on the second Business Day prior to the relevant payment date or, in the event the U.S.
Federal Reserve Board has not mandated a rate of conversion, on the basis of the then most recent U.S. dollar/yen exchange rate published in The Wall Street Journal on or prior to the second Business Day prior to the relevant payment date or, in the
event the Wall Street Journal has not published such exchange rate, the rate will be determined in the Company’s sole discretion on the basis of the most recently available market exchange rate for yen. Any payment in respect of this Debt
Security so made in U.S. dollars will not constitute an Event of Default with respect to the Debt Securities of this series or under the Indenture governing the Debt Securities. Neither the Trustee nor the Paying Agent shall have any responsibility
for any calculation or conversion in connection with the foregoing. 
 “yen” and “¥” means the lawful currency of
Japan. 
 Reference is hereby made to the further provisions of this Debt 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, facsimile or electronic signature, 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 Company has caused this instrument to be duly executed. 

 

							
	Dated: April 15, 2021	 		 	BERKSHIRE HATHAWAY INC.
				
		 		 	By:	 	              

		 		 	Name:	 	Marc D. Hamburg
		 		 	Title:	 	Senior Vice President and Chief Financial Officer

  

			
	Attest:
	
	              

	Name:	 	Robert P. Reeson
	Title:	 	Assistant Secretary

 [REVERSE OF DEBT SECURITY] 

This Debt Security is one of a duly authorized series of notes of the Company (herein called the “Debt Securities”), issued and to
be issued in one or more series under an Indenture, dated as of January 26, 2016 (herein called the “Base Indenture”, and as supplemented by the Officers’ Certificate dated April 15, 2021 with respect to this Debt Security,
together with the Base Indenture, called the “Indenture”), among the Company, as issuer, Berkshire Hathaway Finance Corporation, 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 Company, the Trustee and the Holders of
the Debt Securities and of the terms upon which the Debt Securities are, and are to be, authenticated and delivered. This Debt Security is one of the series designated on the face hereof, initially limited in aggregate principal amount to
¥40,000,000,000. The Company may at any time issue additional securities under the Indenture in unlimited amounts having the same terms as the Debt Securities of a series, provided that no additional securities of a series may be issued if at
the time of issuance an Event of Default has occurred and is continuing with respect to such series of securities. 
 This Debt Security
does not have the benefit of any sinking fund obligation. 
 If, as a result of any change in, or amendment to, the laws (or any regulations
or rulings promulgated under the laws) of the United States (or any political subdivision of or taxing authority in the United States), or any change in, or amendment to, an official position regarding the application or interpretation of such laws,
regulations or rulings (including a holding by a court of competent jurisdiction in the United States), which change or amendment is announced or becomes effective on or after April 8, 2021, the Company becomes or, based upon a written opinion
of independent counsel selected by the Company, there is a substantial probability that the Company will become, obligated to pay additional amounts as described under the heading “Payment of Additional Amounts,” below, with respect to the
Debt Securities of a series, then the Company may at any time at its option redeem, in whole, but not in part, such series of the Debt Securities, at a redemption price equal to 100% of their principal amount, together with accrued and unpaid
interest on the Debt Securities being redeemed to, but excluding, the date fixed for redemption. 
 The Company must give the Holders of
this Debt Security notice, as provided in the Indenture, of any redemption of this Debt Security not less than 30 days or more than 60 days before the date fixed for redemption. If the Company elects to redeem fewer than all the Debt Securities of
this series, the Trustee will select the particular Debt Securities of this series to be redeemed by such method that the Trustee deems fair and appropriate; provided, that if the Debt Securities of this series are represented by one or more
Global Securities, beneficial interests therein shall be selected for redemption by Clearstream and Euroclear in accordance with their respective applicable procedures therefor; provided further, that no Debt Securities of this series
of a principal amount of ¥100,000,000 or less shall be redeemed in part. 
 In the event of redemption of this Debt Security in part
only, a new Debt Security or Debt Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

The Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Debt Security or of certain restrictive
covenants and Events of Default with respect to this Debt Security, in each case upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to the Debt Securities of this series shall occur and be continuing, the principal of the Debt Securities
of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

 The Indenture permits, with certain exceptions as therein provided, the amendment thereof
and the modification of the rights and obligations of the Company and the rights of the Holders of the Debt Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of
not less than a majority in principal amount of the Debt Securities at the time Outstanding of each series to be affected (voting together as a single class). The Indenture also contains provisions permitting the Holders of specified percentages in
principal amount of the Debt Securities of each series at the time Outstanding, on behalf of the Holders of all Debt Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the Holder of this Debt Security shall be conclusive and binding upon such Holder and upon all future Holders of this Debt Security and of any Debt 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 Debt Security. 

As provided in and subject to the provisions of the Indenture, the Holder of this Debt 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 Debt Securities of this series, the Holders of at least 25% in principal amount of the Debt Securities of this series at the time 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 or security reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Debt Securities of this series at the time 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 Debt 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 Debt Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and any interest on this Debt 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 Debt Security is registrable in the
Security Register, upon surrender of this Debt Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Debt Security are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or the Holder’s attorney duly authorized in writing, and thereupon one or more new Debt
Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Indenture and this Debt Security are governed by the laws of the State of New York, without regard to conflicts of laws provisions
thereof. 

 The Debt Securities of this series are issuable in registered form without coupons in
minimum denominations of ¥100,000,000 and integral multiples of ¥10,000,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Debt Securities of this series are exchangeable for a like
aggregate principal amount of Debt Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made to a Holder for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Debt Security
for registration of transfer, the Company, the Trustee and any agent thereof may treat the Person in whose name this Debt Security is registered as the owner hereof for all purposes, whether or not this Debt Security be overdue, and none of the
Company, the Trustee or any such agent shall be affected by notice to the contrary. 
 Except in the limited circumstances described in
Section 3.05 of the Indenture, the Debt Securities of this series shall be issued in the form of one or more Global Securities and a common depositary for the accounts of Euroclear and Clearstream shall be the Depositary for such Global
Security or Securities. 
 All terms used in this Debt Security which are not defined herein and are defined in the Indenture shall have the
meanings assigned to them in the Indenture. 
 Payment of Additional Amounts 

All payments of principal and interest in respect of the Debt Securities of this series shall be made free and clear of, and without deduction
or withholding for or on account of any present or future taxes, duties, assessments or other governmental charges of whatsoever nature required to be deducted or withheld by the United States or any political subdivision or taxing authority of or
in the United States, unless such withholding or deduction is required by law or the official interpretation or administration thereof. 

In the event any withholding or deduction on payments in respect of the Debt Securities of this series for or on account of any present or
future tax, assessment or other governmental charge is required to be deducted or withheld by the United States or any political subdivision or taxing authority thereof or therein, the Company shall pay such additional amounts on the Debt Securities
of this series as will result in receipt by each beneficial owner of such Debt Security that is not a U.S. Person (as defined below) of such amounts (after all such withholding or deduction, including on any additional amounts) as would have been
received by such beneficial owner had no such withholding or deduction been required. The Company will not be required, however, to make any payment of additional amounts for or on account of: 

 

	(a)	 any tax, assessment or other governmental charge that would not have been imposed but for (1) the
existence of any present or former connection (other than a connection arising solely from the ownership of those Debt Securities or the receipt of payments in respect of those Debt Securities) between a Holder of a Debt Security of this series (or
the beneficial owner for whose benefit such Holder holds such Debt Security), or between a fiduciary, settlor, beneficiary of, member or shareholder of, or possessor of a power over, that Holder or beneficial owner (if that Holder or beneficial
owner is an estate, trust, partnership or corporation) and the United States, including that Holder or beneficial owner, or that fiduciary, settlor, beneficiary, member, shareholder or possessor, being or having been a citizen or resident or treated
as a resident of the United States or being or having been engaged in trade or business or present in the United States or having had a permanent establishment in the United States or (2) the presentation of a Debt Security of this series for
payment on a date more than 30 days after the later of the date on which that payment becomes due and payable and the date on which payment is duly provided for; 

	 	(b)	 any estate, inheritance, gift, sales, transfer, capital gains, excise, personal property, wealth or similar
tax, assessment or other governmental charge; 

  

	 	(c)	 any tax, assessment or other governmental charge imposed by reason of the beneficial owner’s past or
present status as a passive foreign investment company, a controlled foreign corporation, a foreign tax exempt organization or a personal holding company with respect to the United States or as a corporation that accumulates earnings to avoid U.S.
federal income tax; 

  

	 	(d)	 any tax, assessment or other governmental charge which is payable by any method other than withholding or
deducting from payment of principal of or premium, if any, or interest on the Debt Securities of this series; 

  

	 	(e)	 any tax, assessment or other governmental charge required to be withheld by any Paying Agent from any payment
of principal of and premium, if any, or interest on any Debt Security of this series if that payment can be made without withholding by any other Paying Agent; 

 

	 	(f)	 any tax, assessment or other governmental charge which would not have been imposed but for the failure of a
beneficial owner or any Holder of Debt Securities of this series to comply with the Company’s request or a request of the Company’s agent to satisfy certification, information, documentation or other reporting requirements concerning the
nationality, residence, identity or connections with the United States of the beneficial owner or any Holder of the Debt Securities of this series that such beneficial owner or Holder is legally able to deliver (including, but not limited to, the
requirement to provide an applicable Internal Revenue Service Form W-8, or any subsequent versions thereof or successor thereto, and including, without limitation, any documentation requirement under an
applicable income tax treaty); 

  

	 	(g)	 any tax, assessment or other governmental charge imposed on interest received by (1) a 10-percent shareholder (as defined in Section 871(h)(3)(B) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), and the U.S. Treasury regulations that may be promulgated thereunder) of
the Company, (2) a controlled foreign corporation that is related to the Company within the meaning of Section 864(d)(4) of the Code or (3) a bank receiving interest described in Section 881(c)(3)(A) of the Code, to the extent
such tax, assessment or other governmental charge would not have been imposed but for the beneficial owner’s status as described in clauses (1) through (3) of this item (g); 

 

	 	(h)	 any tax, assessment or other governmental charge required to be withheld or deducted under Sections 1471
through 1474 of the Code (or any amended or successor version of such Sections) (“FATCA”), any regulations or other guidance thereunder, or any agreement (including any intergovernmental agreement) entered into in connection therewith; or
any law, regulation or other official guidance enacted in any jurisdiction implementing FATCA or an intergovernmental agreement in respect of FATCA; or 

  

	 	(i)	 any combination of items (a), (b), (c), (d), (e), (f), (g) and (h); 

nor will the Company pay any additional amounts to any beneficial owner or Holder of Debt Securities of this series who is a fiduciary or partnership
(including any entity treated as a partnership for U.S. federal income tax purposes) to the extent that a beneficiary or settlor with respect to that fiduciary or a member of that partnership or a beneficial owner thereof would not have been
entitled to the payment of those additional amounts had that beneficiary, settlor, member or beneficial owner been the beneficial owner of those Debt Securities. 

 “U.S. Person” means any individual who is a citizen or resident of the United
States for U.S. federal income tax purposes, a corporation, partnership or other entity created or organized in or under the laws of the United States, any state of the United States or the District of Columbia (other than a partnership that is not
treated as a United States person under any applicable U.S. Treasury regulations), or any estate or trust the income of which is subject to United States federal income taxation regardless of its source. 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Debt Security have been made: 

 

									
	Date of exchange	 	 Amount of decrease in
principal amount of

this Debt Security
	 	 Amount of increase in

principal amount of this
 Debt
Security
	 	 Principal amount of this

Debt Security following
 such decrease
or increase
	 	 Signature of authorized

signatory of Trustee or
 Security
Custodian

	  
	 	  
	 	  
	 	  
	 	  

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned assigns and transfers this Debt Security to: 

————————————————————————————————————————
 

————————————————————————————————————————
 
 (Insert assignee’s social security or tax identification number) 

————————————————————————————————————————
 

————————————————————————————————————————
 

———————————————————————————————————————-
 
 (Insert address and zip code of assignee) 

and irrevocably appoints _______ as agent to transfer this Debt Security on the Security Register. The agent may substitute another to act for him or her.

 Dated:
                                         
   Signature: 

                     
                               Signature Guarantee: 

(Sign exactly as your name appears on the other side of this Debt Security) 

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Security Registrar, which requirements include
membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Security Registrar in addition to, or in substitution for, STAMP, all
in accordance with the Securities Exchange Act of 1934, as amended.

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