Document:

EX-4.8

 Exhibit 4.8 

REGENXBIO INC. 
  

 
 INDENTURE 

Dated as of [●] 
 [●]

 Trustee 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	
	ARTICLE 1	  
	
	DEFINITIONS	  
			
	 SECTION 1.01.
	 	 Certain Terms Defined
	  	 	1	  
	 SECTION 1.02.
	 	 Other Definitions
	  	 	5	  
	 SECTION 1.03.
	 	 Rules of Construction
	  	 	5	  
	
	ARTICLE 2	  
	
	SECURITY FORMS	  
			
	 SECTION 2.01.
	 	 Forms Generally
	  	 	5	  
	 SECTION 2.02.
	 	 Guarantees by Guarantor; Form of Guarantee; Release of Guarantee
	  	 	6	  
	 SECTION 2.03.
	 	 Form of Trustee’s Certificate of Authentication
	  	 	8	  
	
	ARTICLE 3	  
	
	ISSUE, EXECUTION, FORM AND REGISTRATION OF SECURITIES	  
			
	 SECTION 3.01.
	 	 Amount Unlimited; Issuable in Series
	  	 	8	  
	 SECTION 3.02.
	 	 Authentication and Delivery of Securities
	  	 	10	  
	 SECTION 3.03.
	 	 Execution of Securities
	  	 	10	  
	 SECTION 3.04.
	 	 Certificate of Authentication
	  	 	10	  
	 SECTION 3.05.
	 	 Denomination, Currency and Date of Securities; Payments of Interest
	  	 	11	  
	 SECTION 3.06.
	 	 Global Security Legend
	  	 	11	  
	 SECTION 3.07.
	 	 Registration, Transfer and Exchange
	  	 	12	  
	 SECTION 3.08.
	 	 Book-Entry Provisions for Global Securities
	  	 	13	  
	 SECTION 3.09.
	 	 Mutilated, Defaced, Destroyed, Lost and Stolen Securities
	  	 	14	  
	 SECTION 3.10.
	 	 Cancellation of Securities
	  	 	14	  
	 SECTION 3.11.
	 	 Temporary Securities
	  	 	15	  
	 SECTION 3.12.
	 	 CUSIP and ISIN Numbers
	  	 	15	  
	
	ARTICLE 4	  
	
	CERTAIN COVENANTS	  
			
	 SECTION 4.01.
	 	 Payment of Principal, Premium and Interest on Securities
	  	 	15	  
	 SECTION 4.02.
	 	 Maintenance of Office or Agency
	  	 	15	  
	 SECTION 4.03.
	 	 Money for Securities Payments to be Held in Trust
	  	 	16	  
	 SECTION 4.04.
	 	 Existence
	  	 	16	  
	 SECTION 4.05.
	 	 Statement by Officers as to Default
	  	 	16	  
	 SECTION 4.06.
	 	 Waiver of Certain Covenants
	  	 	17	  
	
	ARTICLE 5	  
	
	REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT	  
			
	 SECTION 5.01.
	 	 Events of Default
	  	 	17	  
	 SECTION 5.02.
	 	 Acceleration
	  	 	18	  
	 SECTION 5.03.
	 	 Other Remedies
	  	 	18	  

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 SECTION 5.04.
	 	 Waiver of Past Defaults
	  	 	19	  
	 SECTION 5.05.
	 	 Control by Majority
	  	 	19	  
	 SECTION 5.06.
	 	 Limitation on Suits
	  	 	19	  
	 SECTION 5.07.
	 	 Rights of Holders to Receive Payment
	  	 	19	  
	 SECTION 5.08.
	 	 Collection Suit by Trustee
	  	 	20	  
	 SECTION 5.09.
	 	 Trustee May File Proofs of Claim
	  	 	20	  
	 SECTION 5.10.
	 	 Priorities
	  	 	20	  
	 SECTION 5.11.
	 	 Undertaking for Costs
	  	 	20	  
	 SECTION 5.12.
	 	 Restoration of Rights and Remedies
	  	 	21	  
	 SECTION 5.13.
	 	 Rights and Remedies Cumulative
	  	 	21	  
	 SECTION 5.14.
	 	 Delay or Omission Not Waiver
	  	 	21	  
	
	ARTICLE 6	  
	
	THE TRUSTEE	  
			
	 SECTION 6.01.
	 	 Duties and Responsibilities of the Trustee; During Default; Prior to Default
	  	 	21	  
	 SECTION 6.02.
	 	 Certain Rights of the Trustee
	  	 	22	  
	 SECTION 6.03.
	 	 Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds
Thereof
	  	 	23	  
	 SECTION 6.04.
	 	 Trustee and Agents May Hold Securities; Collections, Etc
	  	 	23	  
	 SECTION 6.05.
	 	 Moneys Held by Trustee
	  	 	23	  
	 SECTION 6.06.
	 	 Notice of Default
	  	 	23	  
	 SECTION 6.07.
	 	 Compensation and Indemnification of Trustee and Its Prior Claim
	  	 	24	  
	 SECTION 6.08.
	 	 Right of Trustee to Rely on Officers’ Certificate, Etc
	  	 	24	  
	 SECTION 6.09.
	 	 Persons Eligible for Appointment as Trustee
	  	 	24	  
	 SECTION 6.10.
	 	 Resignation and Removal; Appointment of Successor Trustee
	  	 	24	  
	 SECTION 6.11.
	 	 Acceptance of Appointment by Successor
	  	 	26	  
	 SECTION 6.12.
	 	 Merger, Conversion, Consolidation or Succession to Business of Trustee
	  	 	26	  
	 SECTION 6.13.
	 	 Preferential Collection of Claims
	  	 	27	  
	 SECTION 6.14.
	 	 Communications with the Trustee
	  	 	27	  
	 SECTION 6.15.
	 	 Paying Agent/Registrar
	  	 	27	  
	
	ARTICLE 7	  
	
	CONCERNING THE HOLDERS	  
			
	 SECTION 7.01.
	 	 Evidence of Action Taken by Holders
	  	 	27	  
	 SECTION 7.02.
	 	 Proof of Execution of Instruments and of Holding of Securities; Record Date
	  	 	27	  
	 SECTION 7.03.
	 	 Who May Be Deemed Owners of Securities
	  	 	28	  
	 SECTION 7.04.
	 	 Securities Owned by Company Deemed Not Outstanding
	  	 	28	  
	 SECTION 7.05.
	 	 Record Date for Action by Holders
	  	 	28	  
	 SECTION 7.06.
	 	 Right of Revocation of Action Taken
	  	 	28	  
	
	ARTICLE 8	  
	
	MEETINGS OF HOLDERS	  
			
	 SECTION 8.01.
	 	 Purposes for Which Meeting May Be Called
	  	 	29	  
	 SECTION 8.02.
	 	 Manner of Calling Meetings; Record Date
	  	 	29	  
	 SECTION 8.03.
	 	 Call of Meeting by Company or Holders
	  	 	29	  

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 SECTION 8.04.
	 	 Who May Attend and Vote at Meeting
	  	 	29	  
	 SECTION 8.05.
	 	 Regulations
	  	 	30	  
	 SECTION 8.06.
	 	 Manner of Voting at Meetings and Record to be Kept
	  	 	30	  
	 SECTION 8.07.
	 	 Exercise of Rights of Trustee and Holders Not to be Hindered or Delayed
	  	 	30	  
	
	ARTICLE 9	  
	
	SUPPLEMENTAL INDENTURES	  
			
	 SECTION 9.01.
	 	 Supplemental Indentures Without Consent of Holders
	  	 	31	  
	 SECTION 9.02.
	 	 With Consent of Holders
	  	 	32	  
	 SECTION 9.03.
	 	 Effect of Supplemental Indenture
	  	 	33	  
	 SECTION 9.04.
	 	 Documents to Be Given to Trustee; Compliance with TIA
	  	 	33	  
	 SECTION 9.05.
	 	 Notation on Securities in Respect of Supplemental Indentures
	  	 	33	  
	
	ARTICLE 10	  
	
	CONSOLIDATION, MERGER OR SALE OF ASSETS	  
			
	 SECTION 10.01.
	 	 When the Company May Merge, Etc
	  	 	33	  
	 SECTION 10.02.
	 	 Successor Person Substituted
	  	 	33	  
	 SECTION 10.03.
	 	 Opinion of Counsel to Trustee
	  	 	34	  
	
	ARTICLE 11	  
	
	REDEMPTION OF SECURITIES	  
			
	 SECTION 11.01.
	 	 Applicability of Article
	  	 	34	  
	 SECTION 11.02.
	 	 Notice of Redemption; Partial Redemptions
	  	 	34	  
	 SECTION 11.03.
	 	 Payment of Securities Called for Redemption
	  	 	35	  
	
	ARTICLE 12	  
	
	DEFEASANCE AND COVENANT DEFEASANCE	  
			
	 SECTION 12.01.
	 	 Applicability of the Article; Company’s Option to Effect Defeasance or Covenant
Defeasance
	  	 	35	  
	 SECTION 12.02.
	 	 Legal Defeasance and Discharge
	  	 	35	  
	 SECTION 12.03.
	 	 Covenant Defeasance
	  	 	36	  
	 SECTION 12.04.
	 	 Conditions to Legal or Covenant Defeasance
	  	 	36	  
	 SECTION 12.05.
	 	 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous
Provisions
	  	 	37	  
	 SECTION 12.06.
	 	 Repayment to the Company or Guarantor
	  	 	37	  
	 SECTION 12.07.
	 	 Reinstatement
	  	 	38	  
	
	ARTICLE 13	  
	
	SATISFACTION AND DISCHARGE	  
			
	 SECTION 13.01.
	 	 Satisfaction and Discharge of Indenture
	  	 	38	  
	 SECTION 13.02.
	 	 Application of Trust Money
	  	 	39	  

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	
	ARTICLE 14	  
	
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE, COMPANY AND GUARANTORS	  
			
	 SECTION 14.01.
	 	 Company to Furnish Trustee Names and Addresses of Holders
	  	 	39	  
	 SECTION 14.02.
	 	 Preservation of Information; Communications to Holders
	  	 	39	  
	 SECTION 14.03.
	 	 Reports by the Trustee
	  	 	40	  
	 SECTION 14.04.
	 	 Reports by the Company and Guarantors
	  	 	40	  
	
	ARTICLE 15	  
	
	MISCELLANEOUS PROVISIONS	  
			
	 SECTION 15.01.
	 	 Incorporators, Stockholders, Members, Partners, Officers, Managers and Directors of Company
or any Guarantor Exempt from Individual Liability
	  	 	41	  
	 SECTION 15.02.
	 	 Provisions of Indenture for the Sole Benefit of Parties and Holders
	  	 	41	  
	 SECTION 15.03.
	 	 Successors and Assigns of Company or Guarantor Bound by Indenture
	  	 	41	  
	 SECTION 15.04.
	 	 Notices, Etc., to Trustee, the Company and Guarantors
	  	 	41	  
	 SECTION 15.05.
	 	 Notices to Holders
	  	 	41	  
	 SECTION 15.06.
	 	 Officers’ Certificates and Opinions of Counsel; Statements to Be Contained
Therein
	  	 	42	  
	 SECTION 15.07.
	 	 Payments Due on Saturdays, Sundays and Holidays
	  	 	42	  
	 SECTION 15.08.
	 	 Conflict of Any Provision of Indenture with Trust Indenture Act
	  	 	42	  
	 SECTION 15.09.
	 	 Conflict of Any Provision of Securities with Indenture
	  	 	43	  
	 SECTION 15.10.
	 	 New York Law to Govern
	  	 	43	  
	 SECTION 15.11.
	 	 Waiver of Jury Trial
	  	 	43	  
	 SECTION 15.12.
	 	 Consent to Jurisdiction and Service
	  	 	43	  
	 SECTION 15.13.
	 	 Third Party Beneficiaries
	  	 	43	  
	 SECTION 15.14.
	 	 Counterparts
	  	 	43	  
	 SECTION 15.15.
	 	 Effect of Headings, Table of Contents
	  	 	43	  
	 SECTION 15.16.
	 	 No Adverse Interpretation of Other Agreements
	  	 	43	  
	 SECTION 15.17.
	 	 Severability
	  	 	43	  
	 SECTION 15.18.
	 	 Patriot Act Compliance
	  	 	43	  
	 SECTION 15.19.
	 	 Force Majeure
	  	 	44	  

  
 -iv- 

 Reconciliation and tie between Trust Indenture Act of 1939, as amended, 

and this Indenture 
  

			
	 Trust Indenture Act

Section
	  	 Indenture

Section

	 §310(a)(1)
	  	6.09
	         (a)(2)
	  	6.09
	         (a)(3)
	  	Not Applicable
	         (a)(4)
	  	Not Applicable
	         (a)(5)
	  	6.09
	         (b)
	  	6.04, 6.10
	 §311(a)
	  	6.13
	         (b)
	  	6.13
	 §312(a)
	  	14.01, 14.02(a)
	         (b)
	  	14.02(b)
	         (c)
	  	14.02(c)
	 §313(a)
	  	14.03(a)
	         (b)
	  	14.03(a)
	         (c)
	  	14.03(a), 14.03(b)
	         (d)
	  	14.03(b)
	 §314(a)
	  	4.05, 14.04
	         (b)
	  	Not Applicable
	         (c)(1)
	  	15.06
	         (c)(2)
	  	15.06
	         (c)(3)
	  	Not Applicable
	         (d)
	  	Not Applicable
	         (e)
	  	15.06
	 §315(a)
	  	6.01
	         (b)
	  	6.06, 14.03(a)
	         (c)
	  	6.01
	         (d)
	  	6.01
	         (e)
	  	5.11
	 §316(a)(1)(A)
	  	5.05
	         (a)(1)(B)
	  	5.02, 5.04
	         (a)(2)
	  	Not Applicable
	         (b)
	  	5.07
	         (c)
	  	7.02, 8.03
	 §317(a)(1)
	  	5.08
	         (a)(2)
	  	5.09
	         (b)
	  	4.03
	 318  (a)
	  	15.08

 This cross-reference table shall not, for any purpose, be deemed to be part of this Indenture. 

 INDENTURE dated as of [●] between REGENXBIO Inc., a Delaware corporation (the
“Company”), the Guarantors (as defined herein) and [●], as trustee (the “Trustee”). 
 W I T N E S S E T H: 

WHEREAS, the Company and the Guarantors have duly authorized the execution and delivery of this Indenture to provide for the issuance from
time to time of its unsecured debentures, notes or other evidences of indebtedness (herein called the “Securities”), to be issued in one or more series as in this Indenture provided; and 

WHEREAS, all things necessary to make the Indenture a valid indenture and agreement according to its terms, have been done. 

NOW, THEREFORE: 
 In
consideration of the premises and the purchases of the Securities by the Holders thereof, the Company, the Guarantors and the Trustee mutually covenant and agree for the equal and proportionate benefit of the respective Holders from time to time of
the Securities as follows: 
 ARTICLE 1 

DEFINITIONS 
 SECTION 1.01.
Certain Terms Defined. The following terms (except as otherwise expressly provided or unless the context otherwise clearly requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective
meanings specified in this Section. All other terms used in this Indenture which are defined in the Trust Indenture Act or the definitions of which in the Securities Act are referred to in the Trust Indenture Act (except as herein otherwise
expressly provided or unless the context otherwise clearly requires), shall have the meanings assigned to such terms in the Trust Indenture Act and in the Securities Act as in force at the date of this Indenture. All accounting terms used herein and
not expressly defined shall have the meanings given to them in accordance with generally accepted accounting principles in the United States (whether or not such is indicated herein). The words “herein,” “hereof” and
“hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. The terms defined in this Article include the plural as well as the singular. 

“Agent Members” has the meaning provided in Section 3.08(a). 

“Board of Directors” means, with respect to any Person, the board of directors or board of managers of such Person, or any
authorized committee of the board of directors or board of managers of such Person or any officer of such Person duly authorized by the board of directors or board of managers of such Person to take a specific action. 

“Board Resolution” means, with respect to the Company or any Guarantor, a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Company or such Guarantor, respectively, to have been duly adopted by the Board of Directors of the Company or such Guarantor, respectively, and to be in full force and effect on the date of such certification, and
delivered to the Trustee. 
 “Business Day” means any day except a Saturday, Sunday or other day on which banking institutions or
trust companies located in the same jurisdiction as the Payment Office specified pursuant to Section 3.01 are authorized or obligated by law or executive order to close, except as otherwise specified pursuant to Section 3.01. 

“Commission” means the United States Securities and Exchange Commission, as from time to time constituted, created under the
Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 

 “Company” means the Person named as the “Company” in the first paragraph of
this Indenture until a successor shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor. 

“Company Request” or “Company Order” means a written request or order signed in the name of the Company by its Chairman of
the Board of Directors, its President, its Chief Executive Officer, its Chief Financial Officer, its Treasurer, its Controller, its Secretary or an Assistant Secretary, and delivered to the Trustee. 

“Corporate Trust Office” means the corporate trust office of the Trustee at which the corporate trust business of the Trustee shall,
at any particular time, be principally administered, which office is, at the date as of which this Indenture is dated, located at [●]. 

“Default” means any event that is or with the passage of time or the giving of notice or both would be an Event of Default. 

“Depositary” means The Depository Trust Company, its nominees, and their respective successors. 

“Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United States as at the time shall
be legal tender for the payment of public and private debt. 
 “Event of Default” means any event or condition specified as such
in Section 5.01 which shall have continued for the period of time, if any, therein designated. 
 “Exchange Act” means the
Securities Exchange Act of 1934, as amended. 
 “GAAP” means generally accepted accounting principles in the United States set
forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such
other entity as may be approved by a significant segment of the accounting profession of the United States, as in effect from time to time. At any time after the Issue Date with respect to a series of Securities, the Company may elect to apply IFRS
in lieu of GAAP and, upon any such election, references in this Indenture to GAAP shall thereafter be construed to mean IFRS as in effect from time to time. The Company shall give notice of any such election to the Trustee. 

“Global Security” means a Security, and any Guarantees endorsed thereon, evidencing all or part of a series of Securities and the
corresponding Guarantees, if any, issued to the Depositary for that series in accordance with Section 3.05 and bearing the appropriate legend prescribed in Section 3.06. 

“Government Securities” means direct obligations of, or obligations guaranteed by, the United States of America, and the payment for
which the United States pledges its full faith and credit. 
 “Guarantee” means with respect to the Securities of any series, the
Guarantee with respect to the Securities of such series by the applicable Guarantor or Guarantors pursuant to Section 2.02 hereof and a supplemental indenture. 

“Guarantor” means, with respect to Securities of any series, any of the Company’s direct and indirect Subsidiaries, but
only if such entity has guaranteed the Company’s obligations under this Indenture and with respect to such series of Securities pursuant to Section 2.01 hereof; provided that upon the release and discharge of any Person from its
Guarantee in accordance with this Indenture or as specified pursuant to Section 3.01, such Person shall cease to be a Guarantor. 

“Holder,” “Holder of Securities” or other similar terms mean the registered holder of any Security. 

  
 -2- 

 “IFRS” means International Financial Reporting Standards promulgated by the
International Accounting Standards Board (or any successor board or agency) and as adopted by the European Union, as in effect from time to time. 

“Indenture” means this indenture as originally executed or as it may from time to time be supplemented or amended by one or more
indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of particular series of Securities established as contemplated hereunder. 

“Interest Payment Date” means, when used with respect to any Security, the Stated Maturity of an installment of interest on such
Security. 
 “Issue Date” means, with respect to Securities of a series, the first date on which the Securities of such series are
originally issued under this Indenture. 
 “Maturity,” means, when used with respect to any Security, the date on which the
principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

“Notice of Default” has the meaning provided in Section 6.06. 

“Officers’ Certificate” means a certificate signed on behalf of the Company by an officer of the Company (or on behalf of a
Guarantor by an officer of such Guarantor, as the case may be) that meets the requirements of Section 15.06 hereof. 
 “Opinion of
Counsel” means an opinion in writing signed by legal counsel who may be an employee of or counsel to the Company or a Guarantor or who may be other counsel satisfactory to the Trustee. 

“outstanding” means, when used with reference to Securities, subject to the provisions of Article 7, as of any particular time,
all Securities authenticated and delivered by the Trustee under this Indenture, except 
 (a) Securities theretofore
canceled by the Trustee or delivered to the Trustee for cancellation; 
 (b) Securities, or portions thereof, for the
payment or redemption of which moneys in the necessary amount shall have been deposited in trust with the Trustee or with any Paying Agent (other than the Company or a Guarantor) or shall have been set aside, segregated and held in trust by the
Company or a Guarantor (if the Company or a Guarantor shall act as Paying Agent); provided that if such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as herein provided, or
provision satisfactory to a Responsible Officer of the Trustee shall have been made for giving such notice; 

(c) Securities in substitution for which other Securities shall have been authenticated and delivered, or which shall have
been paid, pursuant to the terms of Section 3.09 (unless proof satisfactory to the Trustee and the Company is presented that any of such Securities is held by a person in whose hands such Security is a legal, valid and binding obligation of the
Company); and 
 (d) Securities that have been defeased pursuant to Section 12.01. 

“Paying Agent” means any Person authorized by the Company to pay the principal of (and premium, if any) and interest, if any, on any
Securities on behalf of the Company. The Company or a Guarantor may act as Paying Agent with respect to any Securities issued hereunder. 

“Payment Office” means, when used with respect to the Securities of or within any series, the place or places where the principal of
(and premium, if any) and interest on such Securities are payable as specified pursuant to Section 3.01. 

  
 -3- 

 “Person” means any individual, corporation, partnership, joint stock company, business
trust, trust, unincorporated association, joint venture or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

“Physical Securities” means Securities issued pursuant to Section 3.02 in exchange for interest in the Global Security or
pursuant to Section 3.08(b) in registered form substantially in the form hereinabove recited. 
 “Principal Amount” means,
when used with respect to any Security, the amount of principal of such Security that could then be declared due and payable pursuant to Section 5.02. 

“Registrar” has the meaning provided in Section 3.07. 

“Regular Record Date” for the interest payable on any Interest Payment Date on the Securities of any series means the date specified
for that purpose as contemplated by Section 3.01. 
 “Responsible Officer” means, when used with respect to the Trustee, any
officer within the Corporate Trust Office of the Trustee including any vice president, any trust officer, any assistant vice president, any assistant secretary, any assistant treasurer, or any other officer of the Trustee customarily performing
functions similar to those performed by the persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with the particular subject and who shall
have direct responsibility for the administration of this Indenture. 
 “Securities Act” means the Securities Act of 1933, as
amended. 
 “Security” or “Securities” means any Security or Securities, as the case may be, authenticated and delivered
under this Indenture. 
 “Security Register” has the meaning provided in Section 3.07. 

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

“Subsidiary” means, as applied, with respect to any Person, any corporation, partnership or other legal entity of which, in the case
of a corporation, more than 50% of the issued and outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether at the time capital stock of any other class or
classes of such corporation has or might have voting power upon the occurrence of any contingency), or, in the case of any partnership or other legal entity, more than 50% of the ordinary equity capital interests, is at the time directly or
indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such Person’s other Subsidiaries. 

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as in force at the date as of which this Indenture was
originally executed, and “TIA” means, when used in respect of an indenture supplemental hereto, such Act as in force at the time such indenture supplemental hereto becomes effective. 

“Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture until a successor Trustee shall
have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder; provided that if at any time there is more than one such Person,
“Trustee” as used with respect to the Securities of any series shall mean only the Trustee with respect to Securities of that series. 

  
 -4- 

 SECTION 1.02. Other Definitions. 

 

			
	 Term
	  	Defined in Section
		
	 “Authorized Agent”
	  	15.12
	 “Covenant Defeasance”
	  	12.03
	 “Legal Defeasance”
	  	12.02
	 “Specified Courts”
	  	15.12

 SECTION 1.03. Rules of Construction. 

Unless the context otherwise requires: 

(a) a term has the meaning assigned to it; 

(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(c) “or” is not exclusive; 

(d) words in the singular include the plural, and in the plural include the singular; 

(e) provisions apply to successive events and transactions; and 

(f) all references in this instrument to Articles and Sections are references to the corresponding Articles and Sections in and of this
instrument unless the context requires otherwise. 
 ARTICLE 2 

SECURITY FORMS 
 SECTION 2.01.
Forms Generally. The Securities of each series, and all Guarantees endorsed thereon, if any, shall be in substantially the forms as shall be established by or pursuant to a Board Resolution of the Company (and a Board Resolution of each
Guarantor with respect to the Guarantees, if any) or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may
have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers
executing such Securities and Guarantees, if any, as evidenced by their execution of the Securities and Guarantees. If the form of Securities of any series, and any Guarantees endorsed thereon, is established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company, and by the Secretary or Assistant Secretary of the Guarantors, if any, and delivered to the Trustee at or prior
to the delivery of the Company Order contemplated by Section 3.02 for the authentication and delivery of such Securities. 
 The
Trustee’s certificate of authentication on all Securities shall be in substantially the form set forth in this Article. 
 The
definitive Securities of any series shall be printed, lithographed or engraved on steel-engraved borders or may be produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their execution of such
Securities. 

  
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 SECTION 2.02. Guarantees by Guarantor; Form of Guarantee; Release of Guarantee. 

(a) Except as otherwise specified in or pursuant to the Officers’ Certificate or supplemental indenture contemplated by
Section 3.01(b), the provisions of this Section 2.02 will be applicable to any series of Securities that is to be guaranteed by one or more Guarantors. 

(b) Each Guarantor by its execution of this Indenture hereby agrees with each Holder of a Security of each series that is guaranteed by such
Guarantor and authenticated and delivered by the Trustee and with the Trustee on behalf of each such Holder, to be unconditionally bound by the terms and provisions of the Guarantee set forth below and authorizes the Trustee to confirm such
Guarantee to the Holder of each such Security by its execution and delivery of each such Security, with such Guarantee endorsed thereon, authenticated and delivered by the Trustee. 

Guarantees to be endorsed on the Securities shall, subject to this Section 2.02, be in substantially the form set forth below: 

GUARANTEE 
 OF 

[GUARANTOR] 
 For value received,
[●] (the “Guarantor”) hereby unconditionally and irrevocably guarantees, jointly and severally, to the Holder of the Security upon which this Guarantee is endorsed and to the Trustee on behalf of each such Holder the due and punctual
payment of the principal of, premium, if any, interest and additional amounts, if any, on such Security and the due and punctual payment of any sinking fund or analogous payments referred to therein, if any, when and as the same shall become due and
payable, whether on the Stated Maturity, by declaration of acceleration, call for redemption or otherwise, according to the terms thereof and of the Indenture dated as of [●] among REGENXBIO Inc. (hereinafter called the “Company,”
which term includes any successor Person thereto under the Indenture), the Guarantors (as defined therein) and [●], as trustee (the “Indenture” and as supplemented by any applicable supplemental indenture, the “Indenture”).
In case of the failure of the Company punctually to make any such payment of principal, premium, if any, or interest, and additional amounts, if any, or any sinking fund or analogous payment, the Guarantor, for so long as this Guarantee shall be in
effect, hereby agrees to cause any such payment to be made to or to the order of the Trustee punctually when and as the same shall become due and payable, whether on the Stated Maturity or by declaration of acceleration, call for redemption or
otherwise, and as if such payment were made by the Company. 
 The Guarantor hereby agrees, to the extent permitted by law, that its
obligations hereunder shall be as if it were the principal debtor and not merely surety, and shall be absolute and unconditional, irrespective of, and shall be unaffected by, any invalidity, irregularity or unenforceability of such Security or the
Indenture, any failure to enforce the provisions of such Security or the Indenture, or any waiver, modification or indulgence granted to the Company with respect thereto, by the Holder of such Security or the Trustee or any other circumstance which
may otherwise constitute a legal or equitable discharge of a surety or guarantor. The Guarantor hereby waives, to the extent permitted by law, diligence, presentment, demand of payment, filing of claims with a court in the event of merger or
bankruptcy of the Company, any right to require a proceeding first against the Company, protest or notice with respect to such Security or the indebtedness evidenced thereby or with respect to any sinking fund or analogous payment required under
such Security and all demands whatsoever, and covenants that this Guarantee will not be discharged except by payment in full of the principal of, premium, if any, and interest on such Security or as otherwise described in Section 2.02 of the
Indenture. 
 This Guarantee shall be automatically and unconditionally released on the terms set forth in Section 2.02(c) of the
Indenture and such terms as have been specified pursuant to Section 3.01. 
 The Guarantor shall be subrogated to all rights of the
Holder of such Security and the Trustee against the Company in respect of any amounts paid to such Holder by the Guarantor pursuant to the provisions of this Guarantee; provided that the Guarantor shall not be entitled to enforce, or to
receive any payments arising out of or based upon such right of subrogation until the principal of, premium, if any, and interest on all Securities of the same series issued under the Indenture shall have been paid in full. 

  
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 The Guarantor hereby agrees that its obligations hereunder shall be direct, unconditioned and
unsubordinated and will rank equally and ratably without preference and at least equally with other senior unsecured and unsubordinated obligations of the Guarantor, except to the extent prescribed by law. The Holder of a guaranteed Security will be
entitled to payment under the Guarantee without taking any action whatsoever against the Company. 
 No reference herein to the Indenture
and no provision of this Guarantee or of the Indenture shall alter or impair the guarantee of the Guarantor, which is absolute and unconditional, of the due and punctual payment of the principal of, premium, if any, and interest on, any additional
amounts, and any sinking fund or analogous payments with respect to, the Security upon which this Guarantee is endorsed. 
 This Guarantee
shall not be valid or obligatory for any purpose until the certificate of authentication of such Security shall have been manually executed by or on behalf of the Trustee under the Indenture. 

All terms used in this Guarantee that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

This Guarantee shall be governed by and construed in accordance with the laws of the State of New York, but without giving effect to
applicable principles of conflicts of law to the extent that the application of the law of another jurisdiction would be required thereby. 
 Executed and
dated the date on the face hereof. 
  

			
	[GUARANTOR]
		
	By:	 	  

		 	Name:
		 	Title:

 (c) Release of Guarantee. 

(i) The Guarantee of a Guarantor relating to a series of Securities shall be released automatically and unconditionally, and such Guarantor
shall be relieved of all of its obligations under its Guarantee of such Securities, (A) upon defeasance or discharge of such series of Securities as provided in Article 12 or Article 13 of this Indenture, (B) if for any reason, such
Guarantor ceases to be a Subsidiary of the Company, or (C) in connection with any sale, disposition or transfer of all or substantially all of the assets of that Guarantor (including by way of merger or consolidation) to a Person that is not
(either before or after giving effect to such transaction) the Company or a Subsidiary of the Company. 
 (ii) The Guarantee of a Guarantor
relating to a series of Securities shall be released automatically and unconditionally, and such Guarantor shall be relieved of all of its obligations under its Guarantee of such Securities, in any additional circumstances provided in the terms of
the Securities of such series established pursuant to Section 3.01 of this Indenture and any relevant supplemental indenture. 
 (iii)
At such time as a Guarantor’s Guarantee is released with respect to any series of Securities, such Guarantor will no longer be considered a “Guarantor” of such series of Securities. 

(iv) The Trustee shall promptly execute any documents reasonably requested by the Company or applicable Guarantor relating to a series of
Securities in order to evidence the release of such Guarantor from its obligations under its Guarantee of the Securities of such series; provided that the Trustee shall not be obligated to execute or deliver any document evidencing the
release of a Guarantee pursuant to this Section 2.02(c) unless the Company has delivered an Officers’ Certificate or an Opinion of Counsel to the effect that such release is in accordance with the provisions of this Indenture. 

  
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 SECTION 2.03. Form of Trustee’s Certificate of Authentication. The Trustee’s
certificate of authentication shall be substantially in the following form: 
 This is one of the Securities of the series designated
therein referred to in the within-mentioned Indenture. 
  

			
	[                                    
    ],
	as Trustee
		
	By:	 	  

		 	Authorized Signatory

 ARTICLE 3 

ISSUE, EXECUTION, FORM AND REGISTRATION OF SECURITIES 

SECTION 3.01. Amount Unlimited; Issuable in Series. 

(a) The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 

(b) The Securities may be issued from time to time in one or more series. Prior to the issuance of Securities of any series, there shall be
established in or pursuant to (i) a Board Resolution of the Company and each Guarantor, if any, of the Securities of such series, (ii) action taken pursuant to a Board Resolution and (subject to Sections 3.03 and 3.04) set forth, or
determined in the manner provided, in an Officers’ Certificate of the Company and each Guarantor, if any, of the Securities of such series, or (iii) one or more indentures supplemental hereto: 

(1) the title of the Securities of the series (which shall distinguish the Securities of the series from all other
Securities); 
 (2) whether or not such Securities are to be guaranteed pursuant to Section 2.02 and, if so, the
Guarantor or Guarantors thereof; 
 (3) the purchase price, denomination and any limit upon the aggregate principal
amount of the Securities of the series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the
series pursuant to Sections 3.07, 3.09, 3.11, 9.05 or 11.03); 
 (4) the date or dates on which the principal of
and premium, if any, on the Securities of the series is payable or the method of determination thereof; 
 (5) the rate
or rates at which the Securities of the series shall bear interest, if any, or the method of calculating such rate or rates of interest, the date or dates from which such interest shall accrue or the method by which such date or dates shall be
determined, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date, if any, for the interest payable on any Interest Payment Date; 

(6) the place or places where the principal of (and premium, if any) and interest, if any, on Securities of the series
shall be payable; 
 (7) the place or places where the Securities may be exchanged or transferred; 

  
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 (8) the period or periods within which, the price or prices at which, the
currency or currencies (including currency unit or units) in which, and the other terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company, if the Company is to have that option,
and, if other than as provided in Section 11.02, the manner in which the particular Securities of such series (if less than all Securities of such series are to be redeemed) are to be selected for redemption; 

(9) the obligation, if any, of the Company to redeem or purchase Securities of the series in whole or in part pursuant to
any sinking fund or analogous provisions or upon the happening of a specified event or at the option of a Holder thereof and the period or periods within which, the price or prices at which, and the other terms and conditions upon which Securities
of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 
 (10) if other than
denominations of $2,000 and multiples of $1,000 in excess thereof, the denominations in which Securities of the series shall be issuable; 

(11) if other than Dollars, the currency or currencies (including currency unit or units) in which payments of principal
of (and premium, if any) and interest, if any, on the Securities of the series shall or may by payable, or in which the Securities of the series shall be denominated, and the particular provisions applicable thereto; 

(12) if the payments of principal of (and premium, if any) and interest, if any, on the Securities of the series are to be
made, at the election of the Company or a Holder, in a currency or currencies (including currency unit or units) other than that in which such Securities are denominated or designated to be payable, the currency or currencies (including currency
unit or units) in which such payments are to be made, the terms and conditions of such payments and the manner in which the exchange rate with respect to such payments shall be determined, and the particular provisions applicable thereto; 

(13) if the amount of payments of principal of (and premium, if any) and interest, if any, on the Securities of the series
shall be determined with reference to any commodities, currencies or indices, values, rates or prices or any other index, formula or method (which index, formula or method may be based, without limitation, on a currency or currencies (including
currency unit or units) other than that in which the Securities of the series are denominated or designated to be payable), the manner in which such amounts shall be determined; 

(14) if other than the principal amount thereof, the portion of the principal amount of Securities of the series which
shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02 or the method by which such portion shall be determined; 

(15) any modifications of or additions to the Events of Default set forth in Section 5.01 or the covenants of the
Company set forth in Article 4 or Article 10 with respect to Securities of the series; and whether such additional or modified Events of Default or covenants are subject to covenant defeasance pursuant to Section 12.03; 

(16) if either or both of Section 12.02 and Section 12.03 shall be inapplicable to the Securities of the series
(provided that if no such inapplicability shall be specified and the Securities of such series are not convertible into or their value is not determined with reference to the Company’s equity securities, then both Section 12.02 and
Section 12.03 shall be applicable to the Securities of such series; provided further that if no such inapplicability shall be specified and the Securities of such series are convertible into or
their value is determined with reference to the Company’s equity securities, then neither Section 12.02 nor Section 12.03 shall be applicable to the Securities of such series) and any other terms upon which the Securities of such
series will be defeasible; 
 (17) if other than the Trustee, the identity of the Registrar and any Paying Agent; 

  
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 (18) if the Securities of the series shall be issued in whole or in part in
global form, (i) the Depositary for such global Securities, (ii) the form of any legend in addition to or in lieu of that in Section 3.06 which shall be borne by such global Security, (iii) whether beneficial owners of interests
in any Securities of the series in global form may exchange such interests for certificated Securities of such series and of like tenor of any authorized form and denomination, and (iv) if other than as provided in Section 3.08, the
circumstances under which any such exchange may occur; 
 (19) if, and the terms and conditions upon which, the
Securities of such series may or must be converted into securities of the Company or exchanged for securities of the Company or another enterprise; and 

(20) any other terms of the series or any Guarantees endorsed thereon (which terms shall not adversely affect a prior
series of Securities). 
 All Securities of any one series shall be substantially identical except as to denomination and except as may
otherwise be provided (i) by a Board Resolution of the Company, (ii) by action taken pursuant to a Board Resolution of the Company and (subject to Sections 3.02-3.05) set forth, or determined in the manner provided, in an
Officers’ Certificate or (iii) in any such indenture supplemental hereto. All Securities of any one series need not be issued at the same time and, unless otherwise provided, a series may be reopened, without the consent of the Holders,
for issuances of additional Securities of such series. 
 If any of the terms of the Securities of any series, and any Guarantees endorsed
thereon, are established by action taken pursuant to a Board Resolution of the Company and the Guarantors, if any, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and the
Guarantors, if any, and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth, or providing the manner for determining, the terms of the Securities of such series, and an appropriate record of any
action taken pursuant thereto in connection with the issuance of any Securities of such series shall be delivered to the Trustee prior to the authentication and delivery thereof. 

SECTION 3.02. Authentication and Delivery of Securities. Upon the execution and delivery of this Indenture, or from time to time
thereafter, Securities of any series and any Guarantees endorsed thereon may be executed by the Company and the Guarantors, if any, and delivered by the Company to the Trustee for authentication, together with a Company Order, and upon delivery to
the Trustee of all documents and certificates as required by this Indenture, the Trustee shall thereupon, in accordance with such Company Order, authenticate and make available for delivery said Securities. 

SECTION 3.03. Execution of Securities. The Securities of each series shall be executed on behalf of the Company, and each of the
Guarantees, if any, shall be executed on behalf of the applicable Guarantor, by the Chairman of the Board of Directors, the President, the Chief Executive Officer, the Chief Financial Officer, the Treasurer, the Controller, the Secretary or any
Assistant Secretary of the Company or of such Guarantor, as the case may be. The signatures of any of such officers on the Securities or the Guarantees may be the manual or facsimile signatures of the present or any future such officers. In case any
officer of the Company or of each Guarantor, if any, who shall have signed any of the Securities and Guarantees, if any, shall cease to be such officer before the Security so signed or to which the Guarantee relates shall be authenticated and
delivered by the Trustee or disposed of by the Company, such Security nevertheless may be authenticated and delivered or disposed of as though the person who signed such Security or Guarantee had not ceased to be such officer of the Company or of
such Guarantor, as the case may be; and any Security or Guarantee may be signed on behalf of the Company or of a Guarantor, if any, by such persons as shall be the proper officers of the Company or of such Guarantor, as the case may be, at the
actual date of the execution of such Security or Guarantee even though any such person was not such officer at the date of the execution and delivery of this Indenture. 

SECTION 3.04. Certificate of Authentication. Only such Securities or Guarantees endorsed thereon, if any, as shall bear thereon a
certificate of authentication substantially in the form hereinabove recited, executed by the Trustee by manual signature of one of its authorized signatories, shall be entitled to the benefits of this Indenture or be valid or obligatory for any
purpose. Such certificate by the Trustee upon any Security executed by the Company shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled to the benefits of
this Indenture. 

  
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 SECTION 3.05. Denomination, Currency and Date of Securities; Payments of Interest. 

(a) The Securities shall be issuable in such denominations and currency as shall be specified as contemplated by Section 3.01. In the
absence of any specification pursuant to Section 3.01 with respect to Securities of any series, the Securities of such series shall be denominated in Dollars, issuable only as Securities in denominations of $2,000 and multiples of $1,000 in
excess thereof and payable only in Dollars. The Securities shall be numbered, lettered, or otherwise distinguished in such manner or in accordance with such plans as the officers of the Company executing the same may determine with the approval of
the Trustee. 
 Any of the Securities and Guarantees, if any, may be issued with appropriate insertions, omissions, substitutions and
variations, and may have imprinted or otherwise reproduced thereon such legend or legends, not inconsistent with the provisions of this Indenture, as may be required to comply with any law or with any rules or regulations pursuant thereto, including
those required by Section 3.06, or with the rules of any securities market in which the Securities are admitted to trading, or to conform to general usage. 

Each Security shall be dated the date of its authentication, shall bear interest from the applicable date and shall be payable on the dates
specified on the face of the form of Security above. Except as otherwise specified as contemplated by Section 3.01 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of
twelve 30-day months. 
 (b) Global Securities. If Securities of or within a series are issuable in whole or in part in global form,
then any such Security of such series shall be deposited with the Trustee as custodian for the Depositary and registered in the name of Cede & Co., as nominee for the Depositary. The Global Security shall be deposited on behalf of the
purchasers of the Securities represented thereby with the Trustee, as custodian for the Depositary (or with such other custodian as the Depositary may direct), and registered in the name of the Depositary or a nominee of the Depositary, duly
executed by the Company and each Guarantor, if any, and authenticated by the Trustee as hereinafter provided. The aggregate principal amount of the Global Securities may from time to time be increased or decreased by adjustments made on the records
of the Trustee and the Depositary or its nominee as hereinafter provided. 
 (c) The person in whose name any Security is registered at the
close of business on any Regular Record Date with respect to any Interest Payment Date shall be entitled to receive the interest, if any, payable on such Interest Payment Date notwithstanding any transfer or exchange of such Security subsequent to
the Regular Record Date and prior to such Interest Payment Date, except if and to the extent the Company or a Guarantor, if any, shall default in the payment of the interest due on such Interest Payment Date, in which case such defaulted interest,
plus (to the extent lawful) any interest payable on the defaulted interest, shall be paid to the persons in whose names outstanding Securities are registered at the close of business on a subsequent record date (which shall be not less than five
Business Days prior to the date of such payment) established by notice given by mail by or on behalf of the Company or such Guarantor to the Holders of Securities not less than 15 calendar days preceding such subsequent record date. 

SECTION 3.06. Global Security Legend. Any Security in global form authenticated and delivered hereunder shall bear a legend in
substantially the following form, or in such other form as may be necessary or appropriate to reflect the arrangements with or to comply with the requirements of any Depositary: 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY
OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS SECURITY FOR ALL PURPOSES. 

  
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 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & Co. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & Co. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & Co., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL
SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE. 

SECTION 3.07. Registration, Transfer and Exchange. The Securities are issuable only in registered form. The Company will keep at each
office or agency (the “Registrar”) for each series of Securities a register or registers (the “Security Register(s)”) in which, subject to such reasonable regulations as it may prescribe, it will register, and will register the
transfer of Securities as provided in this Article. Such Security Register or Security Registers shall be in written form in the English language or in any other form capable of being converted into such form within a reasonable time. At all
reasonable times such Security Register or Security Registers shall be open for inspection by the Trustee. The initial Registrar shall be the Trustee. 

Upon due presentation for registration of transfer of any Security of any series at each such office or agency, the Company shall execute a
new Security or Securities of the same series, in each case, of any authorized denominations and of a like aggregate Principal Amount in the name of the designated transferee or transferees, the applicable Guarantors, if any, shall execute the
Guarantees endorsed thereon and, upon receipt of a Company Order, the Trustee shall authenticate and make available for delivery such Securities. 

At the option of the Holder, Securities of any series (except a Security in global form) may be exchanged for other Securities of the same
series, of any authorized denominations and of a like aggregate Principal Amount and Stated Maturity, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company
shall execute the Securities which the Holder making the exchange is entitled to receive, the applicable Guarantors, if any, shall execute the Guarantees endorsed thereon and, upon receipt of a Company Order, the Trustee shall authenticate and make
available for delivery such Securities. 
 A Holder may transfer a Security only by written application to the Registrar stating the name of
the proposed transferee and otherwise complying with the terms of this Indenture. No such transfer shall be effected until, and such transferee shall succeed to the rights of a Holder only upon, final acceptance and registration of the transfer by
the Registrar in the Security Register. Prior to the registration of any transfer by a Holder as provided herein, the Company, the Guarantors, if any, and the Trustee or any of their respective agents shall treat the person in whose name the
Security is registered as the owner thereof for all purposes whether or not the Security shall be overdue, and neither the Company, the Guarantors, if any, the Trustee, nor any such agent shall be affected by notice to the contrary. Furthermore, any
Holder of a Global Security shall, by acceptance of such Global Security, agree that transfers of beneficial interests in such Global Security may be effected only through a book entry system maintained by the Depository (or its nominee) and that
ownership of a beneficial interest in the Security shall be required to be reflected in a book entry. When Securities are presented to the Registrar or a co-Registrar with a request to register the transfer or to exchange them for an equal Principal
Amount of Securities of other authorized denominations, the Registrar shall register the transfer or make the exchange as requested if the requirements for such transactions set forth herein are met. To permit registrations of transfers and
exchanges, the Company shall execute the Securities, the applicable Guarantors, if any, shall execute the Guarantees endorsed thereon and the Trustee shall authenticate Securities at the Registrar’s request. 

The Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any
exchange or registration of transfer of Securities (other than any such transfer taxes or other similar governmental charge payable upon exchanges pursuant to Section 3.11, 9.05 or 11.03). No service charge to any Holder shall be made for any
such transaction. 

  
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 The Company shall not be required to exchange or register a transfer of (a) any Securities
of any series for a period of 15 calendar days next preceding the first mailing of notice of redemption of Securities of that series to be redeemed, or (b) any Securities of any series selected, called or being called for redemption
except, in the case of any Security of any series where public notice has been given that such Security is to be redeemed in part, the portion thereof not so to be redeemed. 

All Securities issued upon any transfer or exchange of Securities shall be valid obligations of the Company, evidencing the same debt, and
entitled to the same benefits under this Indenture, as the Securities surrendered upon such transfer or exchange. 
 SECTION 3.08.
Book-Entry Provisions for Global Securities. 
 (a) Each Global Security initially shall (i) be registered in the name of the
Depositary for such Global Securities or the nominee of such Depositary, (ii) be delivered to the Trustee as custodian for such Depositary and (iii) bear legends as set forth in Section 3.06. 

Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with respect to any
Global Security held on their behalf by the Depositary, or the Trustee as its custodian, or under the Global Security, and the Depositary may be treated by the Company, each Guarantor, if any, the Trustee and any of their respective agents as the
absolute owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, each such Guarantor, the Trustee or any of such agents from giving effect to any written certification,
proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of a holder of any Security. 

(b) Transfers of a Global Security shall be limited to transfers of such Global Security in whole, but not in part, to the Depositary for such
series, its successors or their respective nominees. The Company may at any time and in its sole discretion determine that the Securities of a series issued in the form of one or more Global Securities shall no longer be represented by such Global
Securities. In such event, the Company will execute Securities of such series of like tenor and terms in definitive form in an aggregate Principal Amount equal to the Principal Amount of the Global Security or Securities of such series, the
applicable Guarantors, if any, shall execute the Guarantees endorsed thereon and the Trustee, upon receipt of a Company Order, will authenticate and deliver such definitive Securities in exchange for such Global Security or Securities. Interests of
beneficial owners in a Global Security may be transferred in accordance with the rules and procedures of the Depositary. 
 In addition,
Physical Securities shall be transferred to all beneficial owners identified by the Depositary in exchange for their beneficial interests in a Global Security, if (i) the Depositary (A) notifies the Company that it is unwilling or unable
to continue as Depositary for such Global Security, and a successor depositary is not appointed by the Company within 90 calendar days of such notice, or (B) ceases to be qualified to serve as Depositary and a successor depositary is not
appointed by the Company within 90 calendar days of such notice, (ii) the Company executes and delivers to the Trustee a Company Order that such Global Security shall be so transferable, registrable and exchangeable, and such transfers
shall be registrable, or (iii) an Event of Default of which the Trustee has actual notice has occurred and is continuing and the Registrar has received a request from a beneficial owner to issue such Physical Securities, and if the Trustee is
the Registrar, a Company Order or written confirmation from the Depositary identifying the beneficial owner. 
 (c) Any beneficial interest
in one of the Global Securities that is transferred to a person who takes delivery in the form of an interest in the other Global Security will, upon transfer, cease to be an interest in such Global Security and become an interest in the other
Global Security and, accordingly, will thereafter be subject to all transfer restrictions, if any, and other procedures applicable to beneficial interests in such other Global Security for as long as it remains such an interest. 

  
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 (d) In connection with any transfer of a portion of the beneficial interests in a Global Security
to beneficial owners pursuant to paragraph (b) of this Section 3.08, the Registrar shall reflect on its books and records the date and a decrease in the Principal Amount of such Global Security in an amount equal to the Principal Amount of
the beneficial interest in such Global Security to be transferred, and the Company shall execute, and the Trustee shall authenticate and make available for delivery, one or more Physical Securities of like tenor and amount. 

(e) In connection with the transfer of an entire Global Security to beneficial owners pursuant to paragraph (b) of this Section, such
Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and upon receipt of a Company Order the Trustee shall authenticate and deliver, to each beneficial owner identified by the Depositary
in exchange for its beneficial interest in such Global Security, an equal Principal Amount of Physical Securities of authorized denominations. 

(f) The registered holder of a Global Security may grant proxies and otherwise authorize any person, including Agent Members and persons that
may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities of such series. 

SECTION 3.09. Mutilated, Defaced, Destroyed, Lost and Stolen Securities. In case any temporary or definitive Security shall become
mutilated, defaced or be apparently destroyed, lost or stolen, the Company in its discretion may execute a new Security of the same series bearing a number not contemporaneously outstanding, the applicable Guarantors, if any, shall execute the
Guarantees endorsed thereon and, upon the written request of any officer of the Company and delivery to the Trustee of all documents and certificates as required by this Indenture, the Trustee shall authenticate and make available for delivery such
Security, in exchange and substitution for the mutilated or defaced Security, or in lieu of and substitution for the Security so apparently destroyed, lost or stolen. In every case the applicant for a substitute Security shall furnish to the
Company, each Guarantor, if any, the Trustee and any of their respective agents, such security or indemnity as may be required by each of them to indemnify and defend and to save each of them harmless and, in every case of destruction, loss or theft
evidence to their satisfaction of the apparent destruction, loss or theft of such Security and of the ownership thereof. 
 Upon the
issuance of any substitute Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the
Trustee) connected therewith. In case any Security which has matured or is about to mature, or has been called for redemption in full, shall become mutilated or defaced or be apparently destroyed, lost or stolen, the Company may, instead of issuing
a substitute Security of the same series, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated or defaced Security), if the applicant for such payment shall furnish to the Company, each Guarantor, if
any, the Trustee and any of their respective agents such Security or indemnity as any of them may require to save each of them harmless from all risks, however remote, and, in every case of apparent destruction, loss or theft, the applicant shall
also furnish to the Company, each such Guarantor, the Trustee and any of such agents evidence to their satisfaction of the apparent destruction, loss or theft of such Security and of the ownership thereof. 

Every substitute Security and the Guarantee endorsed thereon, if any, issued pursuant to the provisions of this Section by virtue of the fact
that any Security is apparently destroyed, lost or stolen shall constitute an additional contractual obligation of the Company and any Guarantor, as applicable, whether or not the apparently destroyed, lost or stolen Security shall be at any time
enforceable by anyone and shall be entitled to all the benefits of (but shall be subject to all the limitations of rights set forth in) this Indenture equally and proportionately with any and all other Securities and the Guarantees endorsed thereon,
if any, duly authenticated and delivered hereunder. All Securities shall be held and owned upon the express condition that, to the extent permitted by law, with respect to the holder of a substitute Security, the foregoing provisions are exclusive
with respect to the replacement or payment of mutilated, defaced, or apparently destroyed, lost or stolen Securities and shall preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the
contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender. 
 SECTION 3.10.
Cancellation of Securities. All Securities surrendered for payment, redemption, registration of transfer or exchange, if surrendered to the Company, any Guarantor, the Trustee or any of their respective agents, shall be delivered to the
Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the 

  
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provisions of this Indenture. The Trustee shall dispose of cancelled Securities in accordance with its customary procedures. If the Company or any Guarantor shall acquire any of the Securities,
such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 

SECTION 3.11. Temporary Securities. Pending the preparation of definitive Securities of any series, the Company may execute and the
Trustee shall authenticate and make available for delivery temporary Securities of such series (printed, lithographed, typewritten or otherwise reproduced, in each case in form satisfactory to the Trustee). Temporary Securities shall be issuable as
registered Securities of such series without coupons, of any authorized denomination, and substantially in the form of the definitive Securities of such series, and if the Securities are to be guaranteed, having endorsed thereon the Guarantees
executed by each Guarantor, but in all cases with such appropriate omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company and the Guarantors, if any, with the concurrence of the
Trustee. Temporary Securities may contain such reference to any provisions of this Indenture as may be appropriate. Every temporary Security shall be executed by the Company and endorsed by each Guarantor, if any, and be authenticated by the Trustee
upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities of such series. Without unreasonable delay the Company shall execute and shall furnish definitive Securities of such series and
thereupon temporary Securities of such series may be surrendered in exchange therefor without charge at each office or agency to be maintained by the Company for the purpose pursuant to Section 4.02, and upon delivery to the Trustee of all
documents and certificates as required by this Indenture, the Trustee shall authenticate and make available for delivery in exchange for such temporary Securities a like aggregate principal amount of definitive Securities of such series of
authorized denominations, and if the Securities are guaranteed, having endorsed thereon the Guarantees executed by each Guarantor. Until so exchanged the temporary Securities of such series shall be entitled to the same benefits under this Indenture
as definitive Securities of such series. 
 SECTION 3.12. CUSIP and ISIN Numbers. The Company in issuing the Securities of any series
may use a “CUSIP” and “ISIN” number (if then generally in use), and, if so, the Trustee shall use the CUSIP numbers or ISIN numbers, as the case may be, in notices of redemption or exchange as a convenience to Holders of such
series; provided that any such notice shall state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of redemption or exchange and that reliance may be placed
only on the other identification numbers printed on the Securities and any such redemption shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee of any change in the CUSIP numbers or ISIN
numbers. 
 ARTICLE 4 
 CERTAIN
COVENANTS 
 SECTION 4.01. Payment of Principal, Premium and Interest on Securities. The Company, for the benefit of each series of
the Securities, will duly and punctually pay or cause to be paid the principal of and any premium and interest on the Securities of that series in accordance with the terms of such Securities and this Indenture. 

SECTION 4.02. Maintenance of Office or Agency. The Company will maintain a Payment Office where Securities may be presented or
surrendered for payment, where Securities may be surrendered for registration of transfer or exchange, and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company will give prompt
written notice to the Trustee of the location, and any change in the location of, such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address
thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby initially appoints the Trustee at its office or agency as its agent to receive all such
presentations, surrenders, notices and demands. 
 The Company may also from time to time designate one or more other offices or agencies
where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided that no such designation or rescission shall in any manner relieve the

  
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Company of its obligation to maintain an office or agency in accordance with the requirements set forth above for Securities of any series for such purposes. The Company will give prompt written
notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 
 SECTION
4.03. Money for Securities Payments to be Held in Trust. 
 (a) If the Company shall at any time act as its own Paying Agent with
respect to any series of Securities, it will, on or before each due date of the principal of or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum
sufficient to pay the principal and any premium and interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

(b) Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, prior to each due date of the principal
of or any premium or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company
will promptly notify the Trustee of its action or failure so to act. 
 (c) The Company will cause each Paying Agent for any series of
Securities (other than the Trustee) to execute and deliver to the Trustee an instrument in which such Paying Agent will agree with the Trustee, subject to the provisions of this Section 4.03, that such Paying Agent will (i) comply with the
provisions of the Trust Indenture Act applicable to it as a Paying Agent; (ii) hold all sums held by it for the payment of the principal of (and premium, if any) or interest, if any, on the Securities of that series in trust for the benefit of
the Holders until such sums shall be paid to such Holders or otherwise disposed of as herein provided; (iii) give the Trustee notice of any Default by the Company or any Guarantor (or any other obligor upon the Securities) in the making of any
payment of principal (and premium, if any) or interest, if any, on the Securities of that series; and (iv) during the continuance of any Default by the Company (or any other obligor upon the Securities of that series) in the making of any
payment in respect of the Securities of that series, and upon the written request of that Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that series. 

(d) The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay,
or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent will be released from all further liability with respect to such money. 

(e) Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or any
premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium, or interest has become due and payable and was deposited with the Paying Agent will be paid to the Company upon a Company Request
(or, if then held by the Company, will be discharged from such trust) subject to any applicable abandoned property law; and the Holder of such Security will thereafter, as an unsecured general creditor, look only to the Company for payment thereof,
and all liability of the Trustee or such Paying Agent with respect to such trust money will thereupon cease. 
 SECTION 4.04.
Existence. Subject to Article 10, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its existence and rights (charter and statutory); provided that the Company will not be
required to preserve any such right or franchise if the Board of Directors determines that the preservation thereof is no longer desirable in the conduct of the business of the Company and that the loss thereof will not be disadvantageous in any
material respect to the Holders. 
 SECTION 4.05. Statement by Officers as to Default. The Company and, to the extent required by the
TIA, each Guarantor, if any, will deliver to the Trustee, within 120 calendar days after the end of each fiscal year of the Company ending after the first date any series of Securities issued under this Indenture is outstanding, a certificate signed
by the principal executive officer, principal financial officer or principal accounting officer of the Company or such Guarantor stating whether or not to the knowledge of such person after due inquiry the Company

  
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or such Guarantor is in default in the performance and observance of any of the terms, provisions, and conditions of this Indenture (without regard to any period of grace or requirement of notice
provided hereunder) and, if the Company or such Guarantor is in default, specifying all such defaults and the nature and status thereof of which such person may have such knowledge. The Company or such Guarantor shall deliver to the Trustee, as soon
as possible and in any event within seven calendar days after any such aforementioned officer of the Company or such Guarantor becomes aware of the occurrence of any Event of Default or an event which, with notice or the lapse of time or both, would
constitute an Event of Default, an Officers’ Certificate setting forth the details of such Event of Default or default and the action which the Company or such Guarantor proposes to take with respect thereto. 

SECTION 4.06. Waiver of Certain Covenants. The Company and each Guarantor, if any, may omit in any particular instance to comply with
any term, provision, or condition set forth in this Indenture or any applicable supplemental indenture, with respect to the Securities of any series, if the Holders of a majority in Principal Amount of all outstanding Securities of such series
shall, by act of such Holders in accordance with Section 7.01, either waive such compliance in such instance or generally waive compliance with such term, provision, or condition in accordance with Article 9 and Section 5.07, but no such
waiver will extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and such Guarantor and the duties of the Trustee in respect of
any such term, provision, or condition will remain in full force and effect. 
 ARTICLE 5 

REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT 

SECTION 5.01. Events of Default. Each of the following events constitutes an “Event of Default” wherever used herein with
respect to Securities of any series: 
 (a) default for 30 calendar days in the payment when due of interest on the Securities of that
series; 
 (b) default in payment when due of the principal (whether at Stated Maturity, upon redemption (if applicable), upon any required
repurchase by the Company (if applicable) or otherwise) of or premium, if any, on the Securities of that series; 
 (c) default by the
Company or any Guarantor of such series of Securities in the observance or performance of any other covenant or agreement contained in this Indenture or as specified pursuant to Section 3.01 (other than a default referred to in clauses
(a) or (b) above, or an agreement, covenant or provision that has expressly been included in this Indenture solely for the benefit of one or more series of Securities other than that series) which default continues for a period of 60
calendar days after the Company or such Guarantor receives written notice specifying the default (and demanding that such default be remedied) from the Trustee or the Holders of at least 25% of the Principal Amount of Securities of that series then
outstanding (with a copy to the Trustee if given by Holders) (except in the case of a default with respect to Section 10.01 of this Indenture, which will constitute an Event of Default with such notice requirement but without such passage of
time requirement). 
 (d) the entry by a court having jurisdiction in the premises of (i) a decree or order for relief in respect of
the Company or a Guarantor of such series of Securities in an involuntary case or proceeding under any applicable federal or state bankruptcy, insolvency, reorganization, or other similar law or (ii) a decree or order adjudging the Company or
such Guarantor bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of or in respect of the Company or such Guarantor under any applicable federal or state law, or
appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator, or other similar official of the Company or such Guarantor or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the
continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive calendar days; 

(e) the commencement by the Company or a Guarantor of such series of Securities of a voluntary case or proceeding under any applicable federal
or state bankruptcy, insolvency, reorganization, or other similar law or of any other case or proceeding to be adjudicated bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Company or such
Guarantor in an involuntary case or proceeding under any 

  
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applicable federal or state bankruptcy, insolvency, reorganization, or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it
of a petition or answer or consent seeking reorganization or relief with respect to the Company or such Guarantor under any applicable federal or state bankruptcy, insolvency, reorganization, or other similar law, or the consent by it to the filing
of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator, or other similar official of the Company or such Guarantor or of any substantial part of its property pursuant to
any such law, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company or such Guarantor in
furtherance of any such action; 
 (f) any Guarantee relating to such series Securities shall cease to be in full force and effect (other
than in accordance with the terms of this Indenture) or any Guarantor denies or disaffirms its obligations under its Guarantee; or 
 (g)
any other Event of Default with respect to Securities of that series as specified pursuant to Section 3.01, which shall not have been remedied within the specified period after written notice, as specified in Section 5.01(c). 

SECTION 5.02. Acceleration. 

(a) If any Event of Default (other than an Event of Default specified in clause (d) or (e) of Section 5.01) occurs and is
continuing with respect to Securities of any series, the Trustee by written notice to the Company or the Holders of at least 25% in aggregate Principal Amount of the then outstanding Securities of that series by written notice to the Company and the
Trustee, may declare the unpaid principal of, premium, if any, and any accrued and unpaid interest on all the Securities of the affected series to be due and payable immediately. Except as set forth above, upon such declaration the principal of,
premium, if any, and interest shall be due and payable immediately. If an Event of Default specified in clause (d) or (e) of Section 5.01 occurs with respect to the Company or any Guarantor, the unpaid principal of, premium, if any,
and any accrued and unpaid interest on all the Securities shall ipso facto become and be immediately due and payable without further action or notice on the part of the Trustee or any Holder. 

(b) At any time after such a declaration of acceleration with respect to the Securities of any series has been made and before a judgment or
decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article 5 provided, the Holders of a majority in Principal Amount of the outstanding Securities of such series, by written notice to the Company and the
Trustee, may rescind and annul such declaration and its consequences if (i) the Company or a Guarantor has paid or deposited with the Trustee a sum sufficient to pay (A) all overdue interest on all of the Securities of that series,
(B) the principal of (and premium, if any, on) Securities of that series which has become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in the Securities of that series,
(C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in the Securities of that series, and (D) all sums paid or advanced by the Trustee hereunder and the
reasonable compensation, expenses, disbursements and advances of the Trustee and its agents and counsel and (ii) all Events of Default with respect to the Securities of that series, other than the non-payment of the principal of the Securities
of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.04. No such rescission will affect any subsequent default or impair any right consequent thereon. 

SECTION 5.03. Other Remedies. If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may
pursue any available remedy to collect the payment of principal or interest on the Securities of such series or to enforce the performance of any provision of the Securities of such series or this Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Securities of such series or does not produce any of them in the
proceeding and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. A delay 

  
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or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the
Event of Default. All remedies are cumulative to the extent permitted by law. 
 SECTION 5.04. Waiver of Past Defaults. The Holders
of not less than a majority in aggregate Principal Amount of the Securities of any series then outstanding by written notice to the Trustee may on behalf of the Holders of all of the Securities of such series waive any existing Default or Event of
Default and its consequences under this Indenture except a continuing Default or Event of Default in the payment of the principal (whether at Stated Maturity, upon redemption (if applicable), upon any required repurchase by the Company (if
applicable) or otherwise) of (and premium, if any) or interest, if any, on any Security of such series or, in the case of the Securities of any series that are convertible or exchangeable, in the payment or delivery of any consideration due upon
conversion or exchange of the Securities of that series (if applicable). The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Persons entitled to waive any past Default hereunder. If a record date is
fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to waive any Default hereunder, whether or not such Holders remain Holders after such record date. Upon any such waiver, such Default
shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 

SECTION 5.05. Control by Majority. With respect to the Securities of any series, the Holders of a majority in aggregate Principal
Amount of the then outstanding Securities of that series may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to
follow any direction that conflicts with law or this Indenture, that the Trustee in good faith determines may be unduly prejudicial to the rights of other Holders of that series or that may involve or cause the Trustee any potential liability. The
Trustee may take any other action which it deems proper which is not inconsistent with any such direction. 
 SECTION 5.06. Limitation on
Suits. A Holder of any Security of any series may pursue a remedy with respect to this Indenture or the Securities of the applicable series only if: 

(a) the Holder gives to the Trustee written notice of a continuing Event of Default with respect to that series; 

(b) the Holders of at least 25% in aggregate Principal Amount of the then outstanding Securities of that series make a written request to the
Trustee to pursue the remedy; 
 (c) such Holder or Holders provide to the Trustee indemnity satisfactory to the Trustee against any loss,
liability or expense in connection with the pursuance of such remedy; 
 (d) during the 60-day period specified in (e) below, the
Holders of a majority in aggregate Principal Amount of the then outstanding Securities of such series do not give the Trustee a direction inconsistent with the request; and 

(e) the Trustee does not comply with the request within 60 calendar days after receipt of the notice, request and the offer of indemnity.

 Holders shall not have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture or any Security
to affect, disturb or prejudice the rights of any other such Holders or Holders of Securities of any other series, or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except
in the manner herein provided and for the equal and ratable benefit of all such Holders. 
 SECTION 5.07. Rights of Holders to Receive
Payment. Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal (whether at Stated Maturity, upon redemption (if applicable), upon any required repurchase by the Company (if applicable) or
otherwise) of (and premium, if any) 

  
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and interest, if any, on any Security or, if applicable, payment or delivery of any consideration due upon conversion or exchange of any Security, in each case, on or after the respective due
dates expressed in such Security, or to bring suit for the enforcement of any such payment or delivery on or after such respective dates, shall not be impaired or affected without the consent of the Holder. 

SECTION 5.08. Collection Suit by Trustee. If an Event of Default specified in Sections 5.01(a) and 5.01(b) occurs and is continuing,
the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company, any Guarantor or any other obligor for the whole amount of principal (and premium, if any) and interest, if any, remaining unpaid
on any Securities of such series and interest on overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient to cover amounts due the Trustee under Section 6.07 hereof, including the costs and expenses
of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

SECTION 5.09. Trustee May File Proofs of Claim. The Trustee is authorized to file such proofs of claim and other papers or documents as
may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial
proceedings relative to the Company or any Guarantor (or any other obligor upon the Securities), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable
on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to
pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.07 hereof. To the extent that the
payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.07 hereof out of the estate in any such proceeding, shall be denied for any
reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties which the Holders may be entitled to receive in such proceeding whether in liquidation
or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities of any series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

SECTION 5.10. Priorities. If the Trustee collects any money pursuant to this Article, it shall pay out the money in the following
order: 
 First: to the Trustee, its agents and attorneys for amounts due under Section 6.07, including payment of all
compensation, expense and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

Second: to Holders for amounts due and unpaid on the Securities of any series for principal (and premium, if any) and interest,
if any, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities of such series for principal (and premium, if any) and interest, if any, respectively; and 

Third: to the Company or, to the extent the Trustee collects any amount pursuant to Section 2.02 hereof from a Guarantor,
to such Guarantor, or to such party as a court of competent jurisdiction shall direct. 
 The Trustee may fix a record date and payment date
for any payment to Holders pursuant to this Section 5.10 upon seven calendar days prior notice to the Company. 
 SECTION 5.11.
Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing by any
party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard
to the merits and good faith of the claims or defenses made by the 

  
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party litigant. This Section 5.11 does not apply to a suit by the Trustee, a suit by a Holder of Securities of the affected series pursuant to Section 5.07 hereof, a suit by Holders of
more than 10% in aggregate Principal Amount of the then outstanding Securities of any series in the case of any suit relating to or arising under clause (a), (b), (c), (f) or (g) of Section 5.01, or a suit by Holders of more than 10%
in aggregate Principal Amount of the then outstanding Securities of all series in the case of any suit relating to or arising under clause (d) or (e) of Section 5.01. 

SECTION 5.12. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or
remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the
Company, any Guarantor, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding
has been instituted. 
 SECTION 5.13. Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of Section 3.09, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right
or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

SECTION 5.14. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of Securities of any series to
exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the
Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

ARTICLE 6 
 THE TRUSTEE 

SECTION 6.01. Duties and Responsibilities of the Trustee; During Default; Prior to Default. The Trustee, with respect to the Securities
of any series, prior to the occurrence of an Event of Default with respect to the Securities of such series and after the curing or waiving of all Events of Default with respect to the Securities of such series which may have occurred, undertakes to
perform such duties and only such duties with respect to such series as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (and is continuing which has not been cured or
waived) the Trustee shall exercise such of the rights and powers vested in it by this Indenture with respect to such series, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the
circumstances in the conduct of such person’s own affairs. 
 No provision of this Indenture shall be construed to relieve the Trustee
from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, provided that: 
 (a)
the duties and obligations of the Trustee shall be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this
Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; 
 (b) in the absence of bad faith
on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any statements, certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture; but in the case of any such statements, certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to
determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of any calculation or facts stated therein); 

  
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 (c) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible
Officer, unless it shall be conclusively determined by a court of competent jurisdiction or by such other means as may be agreed by the Company and the Trustee at the time of determination that the Trustee was negligent in ascertaining the pertinent
facts; and 
 (d) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance
with a Company Order or the direction of the Holders given as provided in Section 5.05 or otherwise exercising any trust or power conferred upon the Trustee, under this Indenture. 

None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any potential
or actual liability (financial or otherwise) in the performance of any of its duties or in the exercise of any of its rights or powers, if there shall be reasonable ground for believing that the repayment of such funds or adequate indemnity against
such liability is not assured to it. This Section 6.01 is in furtherance of and subject to Sections 315 and 316 of the Trust Indenture Act. 

Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Article 6. 
 SECTION 6.02. Certain Rights of the
Trustee. In furtherance of and subject to the Trust Indenture Act, and subject to Section 6.01: 
 (a) the Trustee may conclusively
rely and shall be protected in acting or refraining from acting upon any resolution, Officers’ Certificate, Opinion of Counsel or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture,
note, coupon, security or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

(b) any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate
(unless other evidence in respect thereof be herein specifically prescribed) and the Trustee may request and be entitled to receive an Officers’ Certificate before acting or refraining from acting with respect to such request, direction, order
or demand; and any resolution of the Board of Directors of the Company or a Guarantor, if any, may be evidenced to the Trustee by a copy thereof certified by the Secretary or an Assistant Secretary of the Company or that Guarantor; 

(c) the Trustee may consult with counsel of its selection and any advice or Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken, suffered or omitted to be taken by it hereunder in good faith and in accordance with such advice or Opinion of Counsel; 

(d) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or
direction of any of the Holders of the Securities of any series pursuant to the provisions of this Indenture, unless such Holders shall have offered and provided to the Trustee security or indemnity satisfactory to it against the costs, expenses and
liabilities which might be incurred therein or thereby; 
 (e) the Trustee shall not be liable for any action taken or omitted by it in good
faith and believed by it to be authorized or within the discretion, rights or powers conferred upon it by this Indenture; 
 (f) the Trustee
shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, appraisal, bond, debenture, note, coupon, security, or
other paper or document unless requested in writing so to do by the Holders of not less than a majority in aggregate Principal Amount of the Securities of any series then outstanding; provided that, if the payment within a reasonable time to
the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not assured to the Trustee by the security afforded to it by the terms of this Indenture, the
Trustee may require (and shall not be required to make such investigation unless it receives) indemnity satisfactory to it against such expenses or liabilities as a condition to proceeding; the reasonable expenses of every such examination shall be
paid by the Company; 

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

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

 (i) the Trustee shall not be deemed to have knowledge of any Default or Event of Default unless a Responsible Officer of the Trustee has
received from a Holder, the Company or any Guarantor written notice of any event which is in fact such a Default or Event of Default, as the case may be, and such notice references the Securities, this Indenture, the circumstances giving rise to
such a Default or Event of Default and that the same has occurred and is continuing; and 
 (j) The Trustee may request that the Company
deliver an Officers’ Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person
authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded. 

SECTION 6.03. Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof. The recitals
contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no
representation as to the validity or sufficiency of this Indenture or of the Securities, except that the Trustee represents, that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations
hereunder and that the statements made by it in a Statement of Eligibility on Form T-1 supplied to the Company, are true and accurate, subject to the qualifications set forth therein. The Trustee shall not be liable or accountable in any manner for
the use or application by the Company of any of the Securities or of the proceeds thereof. 
 SECTION 6.04. Trustee and Agents May Hold
Securities; Collections, Etc. The Trustee or any of its affiliates or any agent of the Company or the Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities, subject to Sections 6.10 and 6.13 with
the same rights it would have if it were not the Trustee or such agent and may otherwise deal with the Company, any Guarantor or their respective affiliates and receive, collect, hold and retain collections from the Company with the same rights it
would have if it were not the Trustee or such agent. However, in the event that the Trustee acquires any “conflicting interest,” as defined in Section 310(b) of the Trust Indenture Act, it must eliminate such conflict within 90
calendar days, apply to the Commission for permission to continue as trustee or resign. 
 SECTION 6.05. Moneys Held by Trustee. All
moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by mandatory provisions of law.
Neither the Trustee nor any agent of the Company or the Trustee shall be under any liability for interest on any moneys received by it hereunder, except as otherwise agreed with the Company. 

SECTION 6.06. Notice of Default. If any Default or any Event of Default occurs and is continuing with respect to the Securities of any
series and if such Default or Event of Default is actually known to a Responsible Officer of the Trustee, the Trustee shall mail to each Holder of Securities of such series in the manner and to the extent provided in Trust Indenture Act
Section 313(c) notice of the Default or Event of Default (“Notice of Default”) within 90 calendar days after it occurs, unless such Default or Event of Default has been cured; provided that, except in the case of a default
in the payment of the principal (whether at Stated Maturity, upon redemption (if applicable), upon any required repurchase by the Company (if applicable) or otherwise) of, or interest or premium, if any, on any Security of such series, in the
payment or delivery of any consideration due upon conversion or exchange of any Security of such series (if applicable) or in the payment of any sinking fund installment with respect to Securities of such series, the Trustee shall be protected in
withholding such notice if and 

  
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so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice
is in the interest of the Holders of Securities of such series. 
 SECTION 6.07. Compensation and Indemnification of Trustee and Its
Prior Claim. The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation as shall be agreed in writing between the Company and the Trustee (which shall not be limited by any
provision of law in regard to the compensation of a trustee of an express trust) and the Company covenants and agrees to pay or reimburse the Trustee and each predecessor Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by or on behalf of it in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all agents and other persons not regularly in
its employ) except any such expense, disbursement or advance as may arise from its negligence or bad faith (as determined by a court of competent jurisdiction in a final, non-appealable decision or by such other means as may be agreed by the Company
and the Trustee at the time of determination). The Company also covenants to indemnify the Trustee and each predecessor Trustee for, and to hold it harmless against, any and all loss, liability, damage, claim or expense, including taxes (other than
taxes based on the income of the Trustee) incurred without negligence or bad faith on its part (as determined by a court of competent jurisdiction in a final, non-appealable decision or by such other means as may be agreed by the Company and the
Trustee at the time of determination), arising out of or in connection with the acceptance or administration of this Indenture or the trusts hereunder and its duties hereunder, including without limitation the costs and expenses of defending itself
against or investigating any claim (whether asserted by the Company, a Holder or any other Person). The obligations of the Company under this Section to compensate and indemnify the Trustee and each predecessor Trustee and to pay or reimburse the
Trustee and each predecessor Trustee for expenses, disbursements and advances shall constitute additional indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture. Such financial obligations of the Company identified
in this Section 6.07 shall be a senior claim to that of the Securities of each series, and as security for such obligations, the Trustee shall have a lien prior to such Securities, upon all property and funds held or collected by the Trustee as
such, except funds held in trust for the benefit of the Holders of particular Securities, and the Securities of each series are hereby subordinated to such senior claim. Such lien shall survive the discharge and satisfaction of this Indenture. 

When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 5.01(d) or
Section 5.01(e), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable federal or state bankruptcy,
insolvency or other similar law. 
 SECTION 6.08. Right of Trustee to Rely on Officers’ Certificate, Etc. Subject to
Sections 6.01 and 6.02, whenever in the administration of the trusts of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting any action hereunder, such
matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate
delivered to the Trustee, and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture upon
the faith thereof. 
 SECTION 6.09. Persons Eligible for Appointment as Trustee. The Trustee hereunder shall at all times be a
corporation, national association or other appropriate entity having a combined capital and surplus of at least $150,000,000, and which is eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act. If such
corporation publishes reports of condition at least annually, pursuant to law or to the requirements of a federal, state or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and
surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. 

SECTION 6.10. Resignation and Removal; Appointment of Successor Trustee. 

(a) The Trustee may at any time resign with respect to the Securities of one or more series by giving written notice of resignation to the
Company and to the Holders of Securities of such series, such notice to the 

  
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Holders to be given by mailing (by first class mail) the same within 30 calendar days after such notice is given to the Company. Upon receiving such notice of resignation, the Company shall
promptly appoint a successor trustee by written instrument in duplicate, executed by authority of the Board of Directors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee.
If no successor trustee shall have been so appointed and have accepted appointment within 30 calendar days after the mailing of such notice of resignation, the resigning trustee may petition, at the expense of the Company, any court of
competent jurisdiction for the appointment of a successor trustee, or any Holder of the affected series who has been a bona fide holder of the Securities of the affected series for at least six months (or since the Issue Date for such Securities if
the holding period is less than six months) may, on behalf of itself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper
and prescribe, appoint a successor trustee. 
 (b) In case at any time any of the following shall occur: 

(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act, after written
request therefor by the Company or by any Holder who has been a bona fide holder of Securities of the affected series for at least six months; or 

(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 6.09, and shall fail to resign
after written request therefor by the Company or by any such Holder; or 
 (iii) the Trustee shall become incapable of
acting, or shall be adjudged as bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose
of rehabilitation, conservation or liquidation; 
 then, in any such case, the Company may remove the Trustee and appoint a successor trustee by written
instrument, in duplicate, executed by authority of the Board of Directors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to Section 315(e) of the
Trust Indenture Act, any Holder of the affected series who has been a bona fide holder of the Securities of the affected series for at least six months may, on behalf of itself and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 

(c) The Holders of a majority in aggregate Principal Amount of the Securities of any series at the time outstanding may at any time remove the
Trustee for that series and appoint a successor trustee by delivering to the Trustee so removed, to the successor trustee so appointed and to the Company and any Guarantor the evidence provided for in Section 7.01 of the action in that regard
taken by the Holders of that series. 
 If no successor trustee shall have been so appointed and have accepted appointment 30 calendar
days after the mailing of such notice of removal, the Trustee being removed may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor trustee. Such court may thereupon, after such notice, if
any, as it may deem proper and prescribe, appoint a successor trustee. 
 (d) Any resignation or removal of the Trustee and any appointment
of a successor trustee pursuant to any of the provisions of this Section 6.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 6.11. 

(e) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each
appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all Holders of Securities of such series as their names and addresses appear in the
Security Register. Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 

  
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 SECTION 6.11. Acceptance of Appointment by Successor. 

(a) In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed
shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without
any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its fees,
costs, expenses and other charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property
and money held by such retiring Trustee hereunder. 
 (b) In case of the appointment hereunder of a successor Trustee with respect to the
Securities of one or more (but not all) series, the Company, any applicable Guarantor, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto
wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such
provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall
continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it
being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or
trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such
successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such
successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall upon payment of its fees, costs, expenses and other charges duly assign, transfer and deliver to such successor Trustee all property and
money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. 

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

(d) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and
eligible under the Trust Indenture Act. 
 SECTION 6.12. Merger, Conversion, Consolidation or Succession to Business of Trustee. Any
corporation or national association into which the Trustee may be merged or converted or with which it may be consolidated, or to which the Trustee’s assets may be sold, or any corporation or national association resulting from any merger,
conversion, consolidation or sale to which the Trustee shall be a party or by which the Trustee’s property may be bound, or any corporation or national association succeeding to all or substantially all the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided that such entity shall be eligible under the provisions of Section 6.09, without the execution or filing of any paper or any further act on the part of any of the parties
hereto, anything herein to the contrary notwithstanding. 
 In case at the time such successor to the Trustee shall succeed to the trusts
created by this Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee and deliver such Securities so authenticated;
and, in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor Trustee; and in all such
cases such certificate shall have the full force that it is anywhere in the Securities or in this Indenture ; provided that 

  
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the right to adopt the certificate of authentication of any predecessor Trustee or to authenticate Securities in the name of any predecessor Trustee shall apply only to its successor or
successors by merger, conversion or consolidation. 
 SECTION 6.13. Preferential Collection of Claims. If the Trustee shall be or
shall become a creditor, directly or indirectly, secured or unsecured, of the Company (or any other obligor on the Securities), the Trustee shall be subject to the provisions of Section 311 of the Trust Indenture Act regarding the collection of
claims against the Company (or any such other obligor). For purposes of Section 311(b) (4) and (6) of such Act, the following terms shall mean: 

(a) “cash transaction” means any transaction in which full payment for goods or securities sold is made within seven calendar days
after delivery of the goods or securities in currency or in checks or other orders drawn upon banks or bankers and payable upon demand; and 

(b) “self-liquidating paper” means any draft, bill of exchange, acceptance or obligation which is made, drawn, negotiated or
incurred by the Company for the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to, possession of, or a lien upon, the goods,
wares or merchandise or the receivables or proceeds arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is received by the Trustee simultaneously with the creation of the creditor
relationship with the Company arising from the making, drawing, negotiating or incurring of the draft, bill of exchange, acceptance or obligation. 

SECTION 6.14. Communications with the Trustee. Any and all notices, certificates, opinions or filings with the Commission required or
permitted to be provided by the Company to the Trustee under this Indenture shall be in writing and shall be personally delivered, sent via an internationally recognized overnight delivery service or sent by facsimile or electronic transmission to
the address or telecopy number of the Corporate Trust Office. 
 SECTION 6.15. Paying Agent/Registrar. If the Trustee is acting as
Paying Agent and/or Registrar hereunder, the rights and protections afforded to the Trustee under this Article 6 will also be afforded to the Paying Agent and/or the Registrar. 

ARTICLE 7 
 CONCERNING THE HOLDERS

 SECTION 7.01. Evidence of Action Taken by Holders. Any request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders of Securities of any series may be embodied in and evidenced (a) by one or more instruments of substantially similar tenor signed by such Holders in person or by agent duly
appointed in writing, (b) by the record of the Holders of Securities of such series voting in favor thereof at any meeting of Holders duly called and held in accordance with the provisions of Article 8, or (c) by a combination of such
instrument or instruments and any such record of such a meeting of Holders; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is
hereby expressly required, to the Company and each Guarantor, if any. Proof of execution of any instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Sections 6.01 and 6.02)
conclusive in favor of the Trustee, the Company and each Guarantor, if any, if made in the manner provided in this Article. 
 SECTION 7.02.
Proof of Execution of Instruments and of Holding of Securities; Record Date. Subject to Sections 6.01 and 6.02, the execution of any instrument by a Holder or its agent or proxy may be proved in accordance with such reasonable rules and
regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The holding of Securities shall be proved by the Security Register or by a certificate of the Registrar thereof. The Company may set a record
date for purposes of determining the identity of Holders of Securities entitled to vote or consent to any action referred to in Section 7.01, which record date may be set at any time or from time to time by notice to the Trustee, for any date
or dates (in the case of any adjournment or resolicitation) not more than 90 calendar days nor less than 20 calendar days prior to the proposed date of such vote or consent, and thereafter, notwithstanding any other provisions hereof, only
Holders of Securities of record on such record date shall be entitled to so vote or give such consent or to withdraw such vote or consent. 

  
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 SECTION 7.03. Who May Be Deemed Owners of Securities. The Company, each Guarantor, if any,
the Trustee, any Paying Agent and any Registrar may deem and treat the person in whose name any Security of any series shall be registered in the Security Register on the applicable record date as the absolute owner of such Security (whether or not
such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of (and premium, if any) and interest, if any, on such Security and for all
other purposes; and none of the Company, any Guarantor, the Trustee, any Paying Agent or any Registrar shall be affected by any notice to the contrary. All such payments so made to, or upon the order of, any Holders shall be valid, and, to the
extent of the sum or sums so paid, effectual to satisfy and discharge the liability of moneys payable upon any such Security. 
 SECTION
7.04. Securities Owned by Company Deemed Not Outstanding. In determining whether the Holders of the requisite aggregate Principal Amount of Securities of any series have concurred in any direction, consent or waiver under this Indenture,
Securities of such series which are owned by the Company, any Guarantor with respect to such series or any other obligor on the Securities of such series or by any person directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company, any such Guarantor or any other obligor on the Securities of such series shall be disregarded and deemed not to be outstanding for the purpose of any such determination, except that for the purpose of
determining whether the Trustee shall be protected in relying on any such direction, consent or waiver only Securities which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Securities so owned which have
been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company, any Guarantor or any
other obligor upon the Securities or any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company, any Guarantor or any other obligor on the Securities. In case of a dispute as to such
right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officers’ Certificate listing
and identifying all Securities of any series, if any, known by the Company to be owned or held by or for the account of any of the above-described persons; and, subject to Sections 6.01 and 6.02, the Trustee shall be entitled to accept such
Officers’ Certificate as conclusive evidence of the facts therein set forth and of the fact that all Securities of such series not listed therein are outstanding for the purpose of any such determination. 

SECTION 7.05. Record Date for Action by Holders. Whenever in this Indenture it is provided that Holders of a specified percentage in
aggregate principal amount of the Securities of any series may take any action (including the making of any demand or request, the giving of any direction, notice, consent or waiver or the taking of any other action), other than any action taken at
a meeting of Holders of such series called pursuant to Article 8, the Company may, but shall not be obligated to, fix a record date, which need not be the date provided in TIA Section 316(c) to the extent it would otherwise be applicable,
for the purpose of determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding Section 7.06,
those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons
continue to be Holders after such record date. No such consent shall be valid or effective for more than 90 days after such record date 

SECTION 7.06. Right of Revocation of Action Taken. At any time prior to (but not after) the evidencing to the Trustee, as provided in
Section 7.01, of the taking of any action by the Holders of the percentage in aggregate Principal Amount of the Securities of any series specified in this Indenture in connection with such action, any Holder of a Security the serial number of
which is shown by the evidence to be included among the serial numbers of the Securities of the series the Holders of which have consented to such action may, by filing written notice at the Corporate Trust Office and upon proof of holding as
provided in this Article 7, revoke such action so far as concerns such Security. Except as aforesaid, any such action taken by the Holder of any Security shall be conclusive and binding upon such Holder and upon all future holders and owners of such
Security and of any Securities issued in exchange or substitution therefor, irrespective of whether or not any notation in regard thereto is made upon any such Security. Any action taken by the Holders of the percentage in aggregate Principal Amount
of the Securities of any series specified in this Indenture in connection with such action shall be conclusively binding upon the Company, each Guarantor with respect to such series, if any, the Trustee and the Holders of all the Securities of such
series. 

  
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 ARTICLE 8 

MEETINGS OF HOLDERS 
 SECTION
8.01. Purposes for Which Meeting May Be Called. A meeting of Holders of Securities of any series may be called at any time and from time to time pursuant to the provisions of this Article 8 for any of the following purposes: 

(a) to give any notice to the Company, any Guarantor or to the Trustee, or to give any directions to the Trustee, or to consent to the waiving
of any Default or Event of Default with respect to the Securities of such series hereunder and its consequences, or take any other action authorized to be taken by Holders of such series pursuant to any of the provisions of Article 5; 

(b) to remove the Trustee and appoint a successor trustee with respect to the Securities of such series pursuant to the provisions of
Article 6; 
 (c) to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of
Section 9.02; or 
 (d) to take any other action authorized to be taken by or on behalf of the Holders of the percentage in aggregate
Principal Amount of the Securities of such series under any other provisions of this Indenture or under applicable law. 
 SECTION 8.02.
Manner of Calling Meetings; Record Date. The Trustee may at any time call a meeting of Holders of any series to take any action specified in Section 8.01, to be held at such time and at such place in [●], or as the Trustee shall
determine. Notice of every meeting of Holders of any series setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting, shall be mailed not less than 30 nor more than 60 calendar days
prior to the date fixed for the meeting to such Holders at their registered addresses. For the purpose of determining Holders entitled to notice of any meeting of Holders, the Trustee shall fix in advance a date as the record date for such
determination, such date to be a Business Day not more than 10 calendar days prior to the date of the mailing of such notice as hereinabove provided. Only persons in whose name a Security of such series is registered upon the books of the Company on
a record date fixed by the Trustee as aforesaid, or by the Company or the Holders as in Section 8.03 provided, shall be entitled to notice of the meeting of Holders with respect to which such record date was so fixed. 

SECTION 8.03. Call of Meeting by Company or Holders. In case at any time the Company or a Guarantor, if any, pursuant to a resolution
of its Board of Directors, or the Holders of at least 10 percent in aggregate principal amount of the Securities of any series then outstanding, shall have requested the Trustee to call a meeting of the Holders of such series to take any action
authorized in Section 8.01 by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have mailed notice of such meeting within 20 calendar days after receipt of such request,
then the Company, any such Guarantor or the Holders of Securities of such series in the amount above specified may fix the record date with respect to, and determine the time and the place for, such meeting and may call such meeting to take any
action authorized in Section 8.01, by mailing notice thereof as provided in Section 8.02. The record date fixed as provided in the preceding sentence shall be set forth in a written notice to the Trustee and shall be a Business Day not
less than 15 nor more than 20 calendar days after the date on which such notice is sent to the Trustee. 
 SECTION 8.04. Who May
Attend and Vote at Meeting. To be entitled to vote at any meeting of Holders of any series, a person shall be a Holder of one or more Securities of such series. The only persons who shall be entitled to be present or to speak at any meeting of
Holders of any series shall be the persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel, any representatives of the Company and its counsel, and any representatives of any Guarantor of such
Securities and its counsel. When a determination of Holders entitled to vote at any meeting of Holders has been made as provided in this Section 8.04, such determination shall apply to any adjournment thereof. 

  
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 SECTION 8.05. Regulations. Notwithstanding any other provisions of this Indenture, the
Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders of any series, in regard to proof of the holding of the Securities of such series and of the appointment of proxies, and in regard to the appointment
and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall think fit. Except as otherwise permitted or
required by any such regulations, the holding of the Securities of such series shall be provided in the manner specified in Section 8.06. 

The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the
Company or by Holders as provided in Section 8.03, in which case the Company or the Holders calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the
meeting shall be elected by a vote of the Holders of a majority in Principal Amount of the Securities represented at the meeting and entitled to vote. 

Subject to the provisions of Section 7.04, at any meeting each Holder or proxy entitled to vote thereat shall be entitled to one vote for
each $1,000 principal amount of Securities of such series held or represented by him; provided that no vote shall be cast or counted at any meeting in respect of any Security challenged as not outstanding and ruled by the chairman of the
meeting to be not outstanding. The chairman of the meeting shall have no right to vote other than by virtue of Securities held by him or instruments in writing as aforesaid duly designating him as the person to vote on behalf of other Holders. Any
meeting of Holders duly called pursuant to the provisions of Section 8.02 or 8.03 may be adjourned from time to time, and the meeting may be held as so adjourned without further notice. 

At any meeting of Holders of any series, the presence of persons who held, or who are acting as proxy for persons who held, an aggregate
Principal Amount of Securities of such series on the record date for such meeting sufficient to take action on the business for the transaction of which such meeting was called shall constitute a quorum, but, if less than a quorum is present, the
persons holding or representing a majority in aggregate Principal Amount of the Securities of such series represented at the meeting may adjourn such meeting with the same effect, for all intents and purposes, as though a quorum had been present.

 SECTION 8.06. Manner of Voting at Meetings and Record to be Kept. The vote upon any resolution submitted to any meeting of Holders
of any series shall be by written ballots on each of which shall be subscribed the signature of the Holder or proxy casting such ballot and the identifying number or numbers of the Securities of such series held or represented in respect of which
such ballot is cast. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified
written reports in duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of
the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was mailed as provided in
Section 8.02. The record shall show the identifying numbers of the Securities of such series voting in favor of or against any resolution. Each counterpart of such record shall be signed and verified by the affidavits of the permanent chairman
and secretary of the meeting and one of the counterparts shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee. 

Any counterpart record so signed and verified shall be conclusive evidence of the matters therein stated and shall be the record referred to
in clause (b) of Section 7.01. 
 SECTION 8.07. Exercise of Rights of Trustee and Holders Not to be Hindered or Delayed.
Nothing in this Article 8 contained shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Holders or any rights expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the
exercise of any right or rights conferred upon or reserved to the Trustee or to the Holders of any series under any of the provisions of this Indenture or of the Securities of such series. 

  
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 ARTICLE 9 

SUPPLEMENTAL INDENTURES 
 SECTION
9.01. Supplemental Indentures Without Consent of Holders. The Company, the Guarantors, if any, and the Trustee may amend or supplement this Indenture or the Securities of any series or waive any provision hereof or thereof without the consent
of any Holder: 
 (a) to cure any ambiguity, defect or inconsistency in a manner that does not, individually or in the aggregate with all
other changes, adversely affect the rights of any Holder of the Securities of any series in any material respect; 
 (b) to provide for
uncertificated Securities in addition to or in place of certificated Securities; 
 (c) to evidence the assumption of the obligations of the
Company or a Guarantor to the Holders of the Securities in the case of any transaction pursuant to Article 10 hereof; 
 (d) to
evidence and provide for the acceptance of appointment hereunder by a successor trustee and to add to or change any of the provisions of the Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by
more than one trustee; 
 (e) to make any change that would provide any additional rights or benefits to the Holders of all or any series of
Securities or that does not adversely affect the legal rights hereunder of any such Holder; 
 (f) to comply with requirements of the
Commission in order to effect or maintain the qualification of this Indenture under the Trust Indenture Act; 
 (g) to establish the form or
terms of Securities of any series as permitted by Sections 2.01 and 3.01; 
 (h) to secure the Company’s obligations in respect of the
Securities of any series; 
 (i) to add an additional Guarantor in respect of the Securities of any series. 

(j) in the case of convertible or exchangeable Securities of any series, subject to the provisions of the supplemental indenture for such
series of Securities, to provide for conversion rights, exchange rights and/or repurchase rights of Holders of such series of Securities in connection with any reclassification or change of the Company’s common stock or in the event of any
amalgamation, consolidation, merger or sale of all or substantially all of the assets of the Company or its Subsidiaries substantially as an entirety occurs; 

(k) in the case of convertible or exchangeable Securities of any series, to reduce the conversion price or exchange price applicable to such
series of Securities; 
 (l) in the case of convertible or exchangeable Securities of any series, to increase the conversion rate or
exchange ratio in the manner described in the supplemental indenture for such series of Securities, provided that the increase will not adversely affect the interests of the Holders of the Securities of such series in any material respect; or

 (m) any other action to amend or supplement the Indenture or the Securities of any series as set forth in the supplemental indenture
establishing the terms of the Securities of that series as provided in Section 3.01(b). 
 Upon the request of the Company accompanied
by a resolution of its Board of Directors authorizing the execution of any such supplemental indenture, and upon receipt by the Trustee of the documents described in Section 9.04 hereof, the Trustee shall join with the Company and the
Guarantors, if any, in the execution of any supplemental indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations which may be therein contained, but the Trustee shall not be
obligated to enter into such supplemental indenture which affects its own rights, duties or immunities under this Indenture or otherwise. 

  
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 SECTION 9.02. With Consent of Holders. Except as provided in the next succeeding
paragraphs, this Indenture or the Securities may be amended or supplemented with the consent of the Holders of at least a majority in aggregate Principal Amount of all the Securities then outstanding affected by such supplemental indenture (acting
as a single class). 
 Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of
any such supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders as aforesaid, and upon receipt by the Trustee of the documents described in Section 9.04 hereof, the
Trustee shall join with the Company and the Guarantors, if any, in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in
which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture. 
 It shall not be
necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 

After an amendment, supplement or waiver under this Section becomes effective, the Company shall mail to the Holders affected thereby a notice
briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver. Subject to
Sections 5.02(b), 5.04 and 5.07 hereof, the application of or compliance with, either generally or in a particular instance, of any provision of this Indenture or the Securities may be waived as to each series of Securities by the Holders of a
majority in aggregate principal amount of the outstanding Securities of that series. 
 Without the consent of each Holder affected hereby,
however, an amendment or waiver may not: 
 (a) reduce the percentage in Principal Amount of Securities of any series whose Holders must
consent to an amendment, supplement or waiver; 
 (b) change the Stated Maturity of the principal of, or any installment of principal of or
interest on, or time for payment of interest on, any Security, or reduce the Principal Amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or change any Payment Office where, or the coin or currency in
which, any Security or any premium or interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the redemption
date); 
 (c) modify any of the provisions of this Section 9.02, Section 5.04 or Section 4.06, except to increase the
percentage in Principal Amount of Holders required under any such Section or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each outstanding Security affected thereby,
provided that this clause (c) will not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section 9.02, Section 5.02(b),
Section 5.04 and Section 4.06, or the deletion of this proviso, in accordance with the requirements of Section 6.11; 
 (d)
impair the rights of Holders of the Securities of any series that are exchangeable or convertible to receive payment or delivery of any consideration due upon the conversion or exchange of the Securities of that series; 

(e) change in any manner adverse to the interests of the Holders of any outstanding Securities the terms and conditions of the obligations of
the Guarantors, if applicable, in respect of the due and punctual payment of the principal thereof (and premium, if any, thereon) and interest thereon or any additional amounts or any sinking fund or analogous payments provided in respect thereof;
or 
 (f) modify or amend any of the provisions of the Indenture or Securities of any series as may be set forth in the supplemental
indenture with respect to the Securities of that series as requiring the consent of each Holder affected thereby. 

  
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 SECTION 9.03. Effect of Supplemental Indenture. Upon the execution of any supplemental
indenture pursuant to the provisions hereof, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the
Trustee, the Company, each Guarantor, if any, and the Holders shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental
indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 
 SECTION 9.04.
Documents to Be Given to Trustee; Compliance with TIA. The Trustee, subject to the provisions of Sections 6.01 and 6.02, shall be entitled to receive and conclusively rely upon an Officers’ Certificate and an Opinion of Counsel as
conclusive evidence that any such supplemental indenture is permitted or authorized under and otherwise complies with the applicable provisions of this Indenture. Every such supplemental indenture shall comply with the TIA. 

SECTION 9.05. Notation on Securities in Respect of Supplemental Indentures. Securities authenticated and delivered after the execution
of any supplemental indenture pursuant to the provisions of this Article may bear a notation approved by the Trustee as to form (but not as to substance) as to any matter provided for by such supplemental indenture or as to any action taken at any
such meeting. If the Company, any applicable Guarantor or the Trustee shall so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee and the Board of Directors of the Company, to any modification of this
Indenture contained in any such supplemental indenture may be prepared by the Company, endorsed by any such Guarantor, authenticated by the Trustee and delivered in exchange for the Securities of such series then outstanding. 

ARTICLE 10 
 CONSOLIDATION, MERGER
OR SALE OF ASSETS 
 SECTION 10.01. When the Company May Merge, Etc. The Company shall not consolidate with or merge with or into, or
sell, transfer, lease, convey or otherwise dispose of all or substantially all of its assets to, another Person (including pursuant to a statutory arrangement), whether in a single transaction or series of related transactions, unless: 

(a) the Company is the surviving entity or the Person formed by or surviving any such consolidation or merger or to which such sale, transfer,
lease, conveyance or other disposition is made shall be a Person organized and existing under the laws of the United States of America or any State or the District of Columbia, and shall expressly assume, by an indenture supplemental hereto,
executed and delivered to the Trustee, the due and punctual payment of the principal of (and premium, if any) and interest, if any, on all the Securities and the performance or observance of every covenant of this Indenture of the part of the
Company to be performed or observed; 
 (b) immediately after giving effect to such transaction, no Event of Default, and no event which,
after notice or lapse of time, or both, would become an Event of Default, shall have happened and be continuing; and 
 (c) the Company has
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance or transfer and, if a supplemental indenture is required in connection with such transaction, such supplemental
indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 

SECTION 10.02. Successor Person Substituted. Upon any consolidation or merger, or any sale, transfer, lease, conveyance or other
disposition of all or substantially all of the assets of the Company in accordance with Section 10.01 hereof, the successor Person formed by such consolidation or into or with which the Company is merged or to which such sale, transfer, lease,
conveyance or other disposition is made shall succeed to, and, except 

  
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in the case of a lease, be substituted for (so that from and after the date of such consolidation, merger, sale, transfer, conveyance or other disposition, the provisions of this Indenture
referring to the “Company” shall refer instead to the successor Person), and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein.

 In case of any such consolidation, merger, sale, transfer, lease, conveyance or other disposition such changes in phraseology and form
(but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. Notwithstanding the foregoing, (i) a consolidation or merger by the Company with or into, or (ii) the sale, transfer, lease, conveyance or
other disposition by the Company of all or substantially all of its assets to, one or more of its Subsidiaries shall not relieve the Company from its obligations under this Indenture and the Securities. 

SECTION 10.03. Opinion of Counsel to Trustee. The Trustee, subject to the provisions of Sections 6.01 and 6.02, may receive an
Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale, transfer, lease, conveyance or other disposition complies with the applicable provisions of this Indenture. 

ARTICLE 11 
 REDEMPTION OF
SECURITIES 
 SECTION 11.01. Applicability of Article. Securities of any series which are redeemable before their Stated Maturity
shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 3.01 for Securities of any series) in accordance with this Article. 

SECTION 11.02. Notice of Redemption; Partial Redemptions. Notice of redemption to the Holders of Securities of any series to be
redeemed as a whole or in part shall be given by mailing notice of such redemption by first class mail, postage prepaid, at least 30 calendar days and not more than 60 calendar days prior to the date fixed for redemption to such Holders of
Securities at their last addresses as they shall appear upon the registry books. Any notice which is mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the Holder receives the notice. Failure
to give notice by mail, or any defect in the notice to the Holder of any Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Security. 

The notice of redemption to each such Holder shall identify the Securities to be redeemed (including CUSIP numbers) and shall specify the
Principal Amount of each Security held by such Holder to be redeemed, the date fixed for redemption, the redemption price, the place or places of payment, that payment will be made upon presentation and surrender of such Securities, that interest
accrued to the date fixed for redemption will be paid as specified in said notice and that on and after said date interest thereon or on the portions thereof to be redeemed will cease to accrue. In case any Security is to be redeemed in part only
the notice of redemption shall state the portion of the Principal Amount thereof to be redeemed and shall state that on and after the date fixed for redemption, upon surrender of such Security, a new Security or Securities in Principal Amount equal
to the unredeemed portion thereof will be issued. 
 The notice of redemption of Securities of any series to be redeemed at the option of
the Company shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company. 

No later than 10:00 a.m. New York City time on the redemption date specified in the notice of redemption given as provided in this
Section, the Company will deposit with the Trustee or with one or more Paying Agents (or, if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust) an amount of money sufficient to redeem on the redemption date all
the Securities of a series so called for redemption at the appropriate redemption price, together with accrued interest to the date fixed for redemption. The Company will deliver to the Trustee at least 30 calendar days prior to the date fixed
for redemption an Officers’ Certificate stating the aggregate Principal Amount of Securities of such series to be redeemed. 
 If less
than all the Securities of a series are to be redeemed, the Trustee shall select, either pro rata, by lot or by any other method it shall deem fair and reasonable, Securities to be redeemed in whole or in part. Securities may

  
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be redeemed in part only in denominations equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof. The Trustee shall promptly notify the
Company in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the Principal Amount thereof to be redeemed. For all purposes of this Indenture, unless the context otherwise requires,
all provisions relating to the redemption of Securities shall relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the Principal Amount of such Security which has been or is to be redeemed. 

SECTION 11.03. Payment of Securities Called for Redemption. If notice of redemption has been given as above provided, the Securities or
portions of Securities specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to, but not including, the date fixed for redemption,
and on and after said date (unless the Company and any Guarantors shall default in the payment of such Securities at the redemption price, together with interest accrued to said date) interest on the Securities or portions of Securities so called
for redemption shall cease to accrue and, except as provided in Sections 6.05 and 12.06, such Securities shall cease from and after the date fixed for redemption to be entitled to any benefit or security under this Indenture, and the Holders
thereof shall have no right in respect of such Securities except the right to receive the redemption price thereof and unpaid interest to the date fixed for redemption. On presentation and surrender of such Securities at a Payment Office specified
in said notice, said Securities or the specified portions thereof shall be paid and redeemed by the Company at the applicable redemption price, together with interest accrued thereon to, but not including, the date fixed for redemption; provided
that any payment of interest becoming due on the date fixed for redemption shall be payable to the Holders of such Securities registered as such on the relevant Regular Record Date subject to the terms and provisions of Section 3.05 hereof.

 If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, until paid or duly
provided for, bear interest from the date fixed for redemption at the rate borne by the Security. 
 Upon presentation of any Securities
redeemed in part only, the Company shall execute, the Guarantors, if any, shall, execute the Guarantees endorsed thereon, and the Trustee shall authenticate and make available for delivery to or on the order of the Holder thereof, at the expense of
the Company, new Securities of authorized denominations, in Principal Amount equal to the unredeemed portion of the Securities so presented. 

ARTICLE 12 
 DEFEASANCE AND
COVENANT DEFEASANCE 
 SECTION 12.01. Applicability of the Article; Company’s Option to Effect Defeasance or Covenant
Defeasance. Unless pursuant to Section 3.01 provision is made for the inapplicability of either or both of (a) defeasance of the Securities of a series under Section 12.02 or (b) covenant defeasance of the Securities of a
series under Section 12.03, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article, shall be applicable to the Securities of such series, and the Company may, at its option, by
resolution of its Board of Directors, at any time, elect to have either Section 12.02 or Section 12.03 applied to the outstanding Securities of a series upon compliance with the conditions set forth below in this Article 12. 

SECTION 12.02. Legal Defeasance and Discharge. Upon the Company’s exercise of the option provided under Section 12.01 hereof
to defease the outstanding Securities of a particular series under this Section 12.02, the Company and any Guarantors shall be deemed to have been discharged from its obligations with respect to such outstanding Securities and related
Guarantees on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, such Legal Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness
represented by the outstanding Securities of such series, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 12.05 hereof and the other Sections of this Indenture referred to in clauses (i) and
(ii) of this Section 12.02, and to have satisfied all its other obligations under such Securities and this Indenture (and the Trustee, on demand of and at the expense of the Company shall execute proper instruments acknowledging the same),
except for the following provisions which shall survive until otherwise terminated or discharged hereunder: (i) the rights of Holders of outstanding Securities of such series to receive solely from the trust fund described in Section 12.04
hereof, and as more fully set forth in 

  
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such Section, payments in respect of the principal of (and premium, if any) and interest, if any, on such Securities when such payments are due, (ii) the obligations of the Company or any
Guarantor with respect to such Securities under Sections 3.06, 3.07, 3.08(a), 3.09, 3.11, and 12.05 hereof, (iii) the rights, powers, trusts, duties and immunities of the Trustee hereunder, including, without limitation, the Trustee’s
rights under Section 6.07 hereof, and the obligations of the Company or any Guarantor in connection therewith and with this Article 12. Subject to compliance with this Article 12, the Company may exercise its option under this
Section 12.02 notwithstanding the prior exercise of its option under Section 12.03 hereof with respect to the Securities of such series. 

SECTION 12.03. Covenant Defeasance. Upon the Company’s exercise of the option provided under Section 12.01 hereof to obtain a
covenant defeasance with respect to the outstanding Securities of a particular series under this Section 12.03, the Company and any Guarantors shall be released from their obligations under the covenants contained in Article 4 and
Section 10.01 hereof and the covenants contained in any supplemental indenture applicable to such series, with respect to the outstanding Securities of such series on and after the date the conditions set forth below are satisfied (hereinafter,
“Covenant Defeasance”), and the Securities of such series shall thereafter be deemed not outstanding for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection
with such covenants, but shall continue to be deemed outstanding for all other purposes hereunder. For this purpose, such Covenant Defeasance means that, with respect to the outstanding Securities of such series, the Company or any Guarantors may
omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any
reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 5.01(c) or Section 5.01(g) with respect to outstanding
Securities of such series, but, except as specified above, the remainder of this Indenture and of the Securities of such series shall be unaffected thereby. 

SECTION 12.04. Conditions to Legal or Covenant Defeasance. The following shall be the conditions to the application of either
Section 12.02 or Section 12.03 hereof to the outstanding Securities of a particular series: 
 (a) The Company shall irrevocably
have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of Section 6.09 who shall agree to comply with the provisions of this Article 12 applicable to it) as trust funds in trust for the
purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities, (i) an amount (in such currency, currencies or currency unit in which such Securities and
any related coupons are then specified as payable at Stated Maturity), or (ii) non-callable Government Securities that through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not
later than one day before the due date of any payment, cash in Dollars in an amount, or (iii) a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay and discharge and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge the principal of (and premium, if any) and interest, if any, on
such outstanding Securities on the stated maturity date of such principal or installment of principal, or interest or premium, if any. 

(b) In the case of an election under Section 12.02 hereof, the Company shall have delivered to the Trustee an Opinion of Counsel
confirming that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (ii) since the date hereof, there has been a change in the applicable federal income tax law, in either case to the
effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the outstanding Securities of such series will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will
be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred. 

(c) In the case of an election under Section 12.03 hereof, the Company shall have delivered to the Trustee an Opinion of Counsel
confirming that the Holders of the outstanding Securities of such series will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred. 

  
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 (d) No Default or Event of Default (or event that, with the giving of notice or lapse of time or
both would become an Event of Default) with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit or, insofar as Section 5.01(d) or 5.01(e) hereof is concerned, at any time in the period
ending on the 124th calendar day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period). 

(e) Such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under any material
agreement or instrument (other than this Indenture) to which the Company or any Guarantor is a party or by which the Company or such Guarantor is bound (other than a breach, violation or default resulting from the borrowing of funds to be applied to
such deposit). 
 (f) The Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit made by the
Company pursuant to its election under Section 12.02 or 12.03 hereof was not made by the Company with the intent of preferring the Holders of the affected Securities over the other creditors of the Company with the intent of defeating,
hindering, delaying or defrauding creditors of the Company, or others. 
 (g) Such Legal Defeasance or Covenant Defeasance shall be effected
in compliance with any additional terms, conditions or limitations which may be imposed on the Company in connection therewith pursuant to Section 3.01. 

(h) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent provided for relating to either the Legal Defeasance under Section 12.02 hereof or the Covenant Defeasance under Section 12.03 hereof (as the case may be) have been complied with as contemplated by this Section 12.04. 

SECTION 12.05. Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions. Subject to
Section 12.06 hereof, all money and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee pursuant to Section 12.04 hereof in respect of the outstanding Securities of a particular series shall be
held in trust and applied by the Trustee, in accordance with the provisions of such Securities, the Guarantees, if any, relating to such series of Securities and this Indenture, to the payment, either directly or through any Paying Agent (including
the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of principal (and premium, if any) and interest, if any, but such money need not be segregated
from other funds except to the extent required by law. 
 The Company shall pay and indemnify the Trustee against any tax, fee or other
charge imposed on or assessed against the cash or non-callable Government Securities deposited pursuant to Section 12.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge that by law
is for the account of the Holders of the outstanding Securities of such series. 
 Anything in this Article 12 to the contrary
notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon the Company’s request any money or non-callable Government Securities held by it as provided in Section 12.04 hereof with respect to the Securities of
any series which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 12.04(a) hereof), are in
excess of the amount thereof which would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 

SECTION 12.06. Repayment to the Company or Guarantor. Any money deposited with the Trustee or any Paying Agent, or then held by the
Company or applicable Guarantor, in trust for the payment of the principal of (and premium, if any) and interest, if any, on any Security and remaining unclaimed for two years after such principal, or interest or premium, if any, has become due and
payable and was deposited with the Paying Agent shall be paid to the Company or such Guarantor on its written request (or if then held by the Company or such Guarantor) will be discharged from such trust) subject to any applicable abandoned property
law; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company or such Guarantor for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all
liability of the Company or such Guarantor as trustee thereof, shall thereupon cease. 

  
 -37- 

 SECTION 12.07. Reinstatement. If the Trustee or Paying Agent is unable to apply any
Dollars or non-callable Government Securities in accordance with Section 12.02 or 12.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, then the obligations of the Company and the applicable Guarantors under this Indenture, the Securities and any Guarantees shall be revived and reinstated as though no deposit had occurred pursuant to Section 12.02 or 12.03 hereof
until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 12.02 or 12.03 hereof, as the case may be; provided that, if the Company or any Guarantor makes any payment of principal of,
or interest or premium, if any, on any Security following the reinstatement of its obligations, the Company or any Guarantor shall be subrogated to the rights of the Holders of such Security to receive such payment from the money held by the Trustee
or Paying Agent. 
 ARTICLE 13 

SATISFACTION AND DISCHARGE 

SECTION 13.01. Satisfaction and Discharge of Indenture. This Indenture shall upon a Company Request cease to be of further effect with
respect to any series of Securities (except, as to any surviving rights of registration of transfer, exchange or conversion of Securities of such series herein expressly provided for or in the form of Security for such series and any rights to
receive payment of interest thereon), and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when: 

(a) either 
 (i)
all Securities of such series theretofore authenticated and delivered (other than (A) Securities which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.09, and (B) Securities for whose
payment money has theretofore been (x) deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 4.03(c) or (y) paid to any State or
the District of Columbia pursuant to its unclaimed property or similar laws) have been delivered to the Trustee for cancellation; or 

(ii) all such Securities not theretofore delivered to the Trustee for cancellation 

(A) have become due and payable (whether at Stated Maturity, upon redemption (if applicable), upon any required repurchase by
the Company (if applicable) or otherwise), or 
 (B) will become due and payable at their stated maturity within one year,
or 
 (C) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of
notice of redemption by the Trustee in the name, and at the expense, of the Company, and the Company, in the case of (A), (B) or (C) above, has deposited or caused to be deposited with the Trustee, as trust funds in trust for the purpose,
money in the amount in the currency or currency units in which the Securities of such series are payable, sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for
principal (and premium, if any) and interest, if any, to the date of such deposit (in the case of Securities which have become due and payable), or to the Stated Maturity or redemption date, as the case may be; 

(b) the Company or a Guarantor, if any, has paid or caused to be paid all other sums payable hereunder by the Company or the Guarantors, if
any; and 
 (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that all
conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

  
 -38- 

 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company
to the Trustee under Section 6.07 and, if money shall have been deposited with the Trustee pursuant to subclause (ii) of clause (a) of this Section, the obligations of the Trustee under Section 13.02 and Section 4.03(e)
shall survive. 
 SECTION 13.02. Application of Trust Money. Subject to the provisions of Section 4.03(e), all money deposited
with the Trustee pursuant to Section 13.01 shall be held in trust and applied by it, in accordance with the provisions of the Securities, the Guarantees, if any, relating to such series of Securities and this Indenture, to the payment, either
directly or through any Paying Agent (including the Company acting as its own Paying Agent), as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest, if any, for whose payment such money has
been deposited with the Trustee. 
 ARTICLE 14 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE, COMPANY AND GUARANTORS 

SECTION 14.01. Company to Furnish Trustee Names and Addresses of Holders. The Company will furnish or cause to be furnished to the
Trustee: 
 (a) semi-annually, not later than 15 calendar days after the Regular Record Date for each series of Securities, a list, in
such form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities as of such Regular Record Date (unless the Trustee has such information), or if there is no Regular Record Date for interest for such series of
Securities, semi-annually, upon such dates as are set forth in the Board Resolution of the Company or indenture supplemental hereto authorizing such series, and 

(b) at such other times as the Trustee may request in writing, within 30 calendar days after the receipt by the Company of any such
request, a list of similar form and content as of a date not more than 15 calendar days prior to the time such list is furnished; 
 provided
that so long as the Trustee is the Registrar, no such list shall be required to be furnished. 
 SECTION 14.02. Preservation of
Information; Communications to Holders. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names
and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section 14.01 and the names and addresses of Holders received by the Trustee in its capacity as the Registrar. The Trustee may destroy any list
furnished to it as provided in Section 14.01 upon receipt of a new list so furnished. 
 (b) If three or more Holders (herein referred
to as “applicants”) apply in writing to the Trustee, and furnish to the Trustee reasonable proof that each such applicant has owned a Security for a period of at least six months preceding the date of such application (or since the first
date of the issuance for such Security, if the holding period is less than six months), and such application states that the applicants desire to communicate with other Holders with respect to their rights under this Indenture or under the
Securities and is accompanied by a copy of the form of proxy or other communication which such applicants propose to transmit, then the Trustee shall, within five Business Days after the receipt of such application, at its election, either 

(i) afford such applicants access to the information preserved at the time by the Trustee in accordance with
Section 14.02(a); or 
 (ii) inform such applicants as to the approximate number of Holders whose names and addresses
appear in the information preserved at the time by the Trustee in accordance with Section 14.02(a), and as to the approximate cost of mailing to such Holders the form of proxy or other communication, if any, specified in such application. 

  
 -39- 

 If the Trustee shall elect not to afford such applicants access to such information, the Trustee
shall, upon the written request of such applicants, mail to each Holder whose name and address appears in the information preserved at the time by the Trustee in accordance with Section 14.02(a) a copy of the form of proxy or other
communication which is specified in such request, with reasonable promptness after a tender to the Trustee of the material to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing, unless within five Business
Days after such tender the Trustee shall mail to such applicants and file with the Commission, together with a copy of the material to be mailed, a written statement to the effect that, in the opinion of the Trustee, such mailing would be contrary
to the best interest of the Holders or would be in violation of applicable law. Such written statement shall specify the basis of such opinion. If the Commission, after opportunity for a hearing upon the objections specified in the written statement
so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one or more of such objections, the Commission shall find, after notice and opportunity for hearing, that all objections so
sustained have been met and shall enter an order so declaring, the Trustee shall mail copies of such material to all such Holders with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the Trustee shall be
relieved of any obligation or duty to such applicants respecting their application. 
 (c) Every Holder of Securities, by receiving and
holding the same, agrees with the Company, any applicable Guarantor and the Trustee that none of the Company, such Guarantors and the Trustee nor any of their respective agents shall be held accountable by reason of the disclosure of any such
information as to the names and addresses of the Holders in accordance with Section 14.02(b), regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material
pursuant to a request made under Section 14.02(b). 
 SECTION 14.03. Reports by the Trustee. 

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

(b) A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each securities exchange upon
which Securities of any series are listed, with the Commission and with the Company. The Company will promptly notify the Trustee when any Securities are listed on any securities exchange and of any delisting thereof. 

SECTION 14.04. Reports by the Company and Guarantors. The Company shall furnish to the Trustee, within 15 calendar days after it
actually files such annual and quarterly reports, information, documents and other reports with the Commission, copies of its annual report and of the information, documents and other reports (or copies of such portions of any of the foregoing the
Commission may by rules and regulations prescribe) that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act; provided that any such annual and quarterly reports, information, documents
and other reports and information filed with the Commission may be provided by the Company to the Trustee electronically. The Company and any Guarantor shall comply with the other provisions of TIA Section 314(a). Delivery of such information,
documents and reports to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein,
including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). It is expressly understood that materials transmitted electronically by the Company
to the Trustee or filed pursuant to the Commission’s EDGAR system (or any successor electronic filing system) shall be deemed filed with the Trustee and transmitted to Holders for purposes of this Section 14.04. 

  
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 ARTICLE 15 

MISCELLANEOUS PROVISIONS 

SECTION 15.01. Incorporators, Stockholders, Members, Partners, Officers, Managers and Directors of Company or any Guarantor Exempt from
Individual Liability. No recourse under or upon any obligation, covenant or agreement contained in this Indenture, or in any Security of any series or any Guarantees, or because of any indebtedness evidenced thereby, shall be had against any
incorporator, as such or against any past, present or future stockholder, member, partner, officer, manager or director, as such, of the Company, any Guarantor or any successor, either directly or through the Company, any Guarantor or any successor,
under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance of the Securities of
such series by the Holders thereof and as part of the consideration for the issue of the Securities of such series. 
 SECTION 15.02.
Provisions of Indenture for the Sole Benefit of Parties and Holders. Except as set forth in Section 15.10, nothing in this Indenture or in the Securities of any series, expressed or implied, shall give or be construed to give to any
person, firm or corporation, other than the parties hereto and their successors and the Holders of the Securities of such series, any legal or equitable right, remedy or claim under this Indenture or under any covenant or provision herein contained,
all such covenants and provisions being for the sole benefit of the parties hereto and their successors and of the Holders of the Securities. 

SECTION 15.03. Successors and Assigns of Company or Guarantor Bound by Indenture. All the covenants, stipulations, promises and
agreements in this Indenture contained by or in behalf of the Company or any Guarantor shall bind their successors and assigns, whether so expressed or not. 

SECTION 15.04. Notices, Etc., to Trustee, the Company and Guarantors. Any request, demand, authorization, direction, notice, consent,
waiver or act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with: 

(1) the Trustee by any Holder, or by the Company or a Guarantor, if any, shall be sufficient for every purpose hereunder if
made, given, furnished or filed in writing to or with the Trustee at [●], facsimile [●], or such other facsimile number as may be provided by the Trustee from time to time, and shall be deemed to have been made at the time of actual
receipt of such written notice or facsimile transmission thereof; provided that any delivery made or facsimile sent on a day other than a Business Day shall be deemed to be received on the next following Business Day; or 

(2) the Company or a Guarantor, if any, by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless
otherwise herein expressly provided) if in writing to the Company or such Guarantor, as the case may be, addressed to it at the address specified in Schedule I hereto or at any other address or facsimile number previously furnished in writing to the
Trustee by the Company or such Guarantor, as the case may be, and shall be deemed to have been made at the time of delivery or facsimile transmission; provided that any delivery made or facsimile sent on a day other than a Business Day shall
be deemed to be received on the next following Business Day. 
 SECTION 15.05. Notices to Holders. Where this Indenture provides for
notice to Holders, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder entitled thereto, at its last address as it appears in the Security
Register. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders.
Where this Indenture provides for notice in any manner, such notice may be waived in writing by the person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. The Trustee may
waive notice to it of any provision herein, and such waiver shall be deemed to be for its convenience and discretion. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of
any action taken in reliance upon such waiver. 

  
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 In case, by reason of the suspension of or irregularities in regular mail service, it shall be
impracticable to mail notice to the Company, any Guarantor or any Holders when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be satisfactory to the Trustee shall be
deemed to be a sufficient giving of such notice. 
 SECTION 15.06. Officers’ Certificates and Opinions of Counsel; Statements to Be
Contained Therein. Upon any application or demand by the Company or any Guarantor to the Trustee to take any action under any of the provisions of this Indenture, the Company or such Guarantor, as the case may be, shall furnish to the Trustee an
Officers’ Certificate stating that all conditions precedent provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions
precedent have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or demand,
no additional certificate or opinion need be furnished. 
 Each certificate or opinion provided for in this Indenture and delivered to the
Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include (a) a statement that the person making such certificate or opinion has read such covenant or condition, (b) a brief statement as
to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based, (c) a statement that, in the opinion of such person, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with and (d) a statement as to whether or not, in the opinion of such person, such condition or
covenant has been complied with. 
 Any certificate, statement or opinion of an officer of the Company or any Guarantor may be based,
insofar as it relates to legal matters, upon a certificate or opinion of or representations by counsel, unless such officer knows that the certificate or opinion or representations with respect to the matters upon which his or her certificate,
statement or opinion may be based as aforesaid are erroneous, or in the exercise of reasonable care should know that the same are erroneous. Any certificate, statement or Opinion of Counsel may be based, insofar as it relates to factual matters or
information which is in the possession of the Company, upon the certificate, statement or opinion of or representations by an officer or officers of the Company or such Guarantor, as the case may be, unless such counsel knows that the certificate,
statement or opinion or representations with respect to the matters upon which his or her certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise of reasonable care should know that the same are erroneous. 

Any certificate, statement or opinion of an officer or counsel of the Company or any Guarantor may be based, insofar as it relates to
accounting matters, upon a certificate or opinion of or representations by an accountant or firm of accountants in the employ of the Company or such Guarantor, as the case may be, unless such officer or counsel knows that the certificate or opinion
or representations with respect to the accounting matters upon which his or her certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise of reasonable care should know that the same are erroneous. 

Any certificate or opinion of any independent firm of public accountants filed with the Trustee shall contain a statement that such firm is
independent within the meaning of the Securities Act and the rules and regulations promulgated thereunder. 
 SECTION 15.07. Payments Due
on Saturdays, Sundays and Holidays. If the Stated Maturity of interest on or principal of the Securities of a particular series or the date fixed for redemption of any Security shall not be a Business Day, then payment of interest or principal
with respect to such Securities need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the date of maturity or the date fixed for redemption, and no interest shall accrue for
the period after such date. 
 SECTION 15.08. Conflict of Any Provision of Indenture with Trust Indenture Act. If and to the extent
that any provision of this Indenture limits, qualifies or conflicts with another provision included in this Indenture by operation of Sections 310 to 317, inclusive, of the Trust Indenture Act (an “incorporated provision”), such
incorporated provision shall control. 

  
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 SECTION 15.09. Conflict of Any Provision of Securities with Indenture. If and to the
extent that any provision of the Securities limits, qualifies or conflicts with a provision of this Indenture, such provision of this Indenture shall control. 

SECTION 15.10. New York Law to Govern. This Indenture, the Securities of any series and the Guarantees, if any, shall each be deemed to
be a contract under the laws of the State of New York, and for all purposes shall be construed in accordance with the laws of the State of New York, but without giving effect to applicable principles of conflicts of law to the extent that the
application of the law of another jurisdiction would be required thereby. 
 SECTION 15.11. Waiver of Jury Trial. Each party hereto
hereby waives, and each Holder by acceptance of its Securities shall be deemed to have waived, to the fullest extent permitted by applicable law, any right it may have to a trial by jury (but no other judicial remedies) in respect of any litigation
directly or indirectly arising out of, under or in connection with this Indenture or the transactions contemplated hereby. 
 SECTION 15.12.
Consent to Jurisdiction and Service. The Company and each Guarantor, if any, irrevocably (a) agree that any legal suit, action or proceeding against the Company or any Guarantor arising out of or based upon this Indenture, the Notes or
any Guarantee or the transactions contemplated hereby may be instituted in any U.S. Federal or state court in the City and County of New York (collectively, the “Specified Courts”) and (b) waive, to the fullest extent they may
effectively do so, any objection which they may now or hereafter have to the laying of venue of any such proceeding. The Company and each Guarantor hereby appoint C T Corporation System, 111 Eighth Avenue, New York, New York, 10011, as their
authorized agent (the “Authorized Agent”) upon whom process may be served in any such action arising out of or based on this Indenture, the Securities or the transactions contemplated hereby which may be instituted in any Specified Court,
expressly consent to the jurisdiction of any such Specified Court in respect of any such action, and waive any other requirements of or objections to personal jurisdiction with respect thereto. Such appointment shall be irrevocable by the Company
and any Guarantors. The Company and each Guarantor represent and warrant that the Authorized Agent has agreed to act as such agent for service of process and agree to take any and all action, including the filing of any and all documents and
instruments, that may be necessary to continue such appointment in full force and effect as aforesaid. Service of process upon the Authorized Agent in any manner permitted by applicable law and written notice of such service to the Company or to a
Guarantor shall be deemed, in every respect, effective service of process upon the Company or such Guarantor. 
 SECTION 15.13. Third
Party Beneficiaries. Holders of Securities of the Company are third party beneficiaries of this Indenture, and any of them (or their representative) shall have the right to enforce the provisions of this Indenture that benefit such Holders. 

SECTION 15.14. Counterparts. This Indenture may be executed in any number of counterparts, each of which shall be an original; but such
counterparts shall together constitute but one and the same instrument. 
 SECTION 15.15. Effect of Headings, Table of Contents. The
Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

SECTION 15.16. No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret another indenture, loan or
debt agreement of the Company, any Guarantor or any Subsidiary. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

SECTION 15.17. Severability. If any provision hereof shall be held to be invalid, illegal or unenforceable under applicable law, then
the remaining provisions hereof shall be construed as though such invalid, illegal or unenforceable provision were not contained herein. 

SECTION 15.18. Patriot Act Compliance. The parties hereto acknowledge that in accordance with Section 326 of the USA Patriot Act
the Trustee, like all financial institutions, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens account with the Trustee. The parties to this Indenture agree
that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the USA Patriot Act. 

  
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 SECTION 15.19. Force Majeure. In no event shall the Trustee, Registrar or Paying Agent be
liable for any failure or delay in the performance of its obligations hereunder because of circumstances beyond the Trustee’s, Registrar’s or Paying Agents’ control, including, but not limited to, acts of God, flood, war (whether
declared or undeclared), terrorism, fire, riot or embargo, which delay, restrict or prohibit the providing of the services contemplated by this Indenture. 

  
 -44- 

 SIGNATURES 

IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, all as of [●]. 

 

			
	REGENXBIO Inc.
	as the Company
		
	By:	 	  

		 	Name:
		 	Title:
	
	 [●]
 as a
Guarantor

		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to
Base Indenture] 

 
			
	[●],
	as the Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to
Base Indenture] 

 Schedule I 
  

			
	 Company
	  	Address and Facsimile Number
	 REGENXBIO Inc.
	  	9600 Blackwell Road, Suite 210
 Rockville, Maryland 20850

(240) 552-8181
 Attn: General
Counsel

  

			
	 Guarantor
	  	Address and Facsimile Number
	 [●]
	  	[●]SEC Connect

 

Exhibit
10.1

SUBSCRIPTION
AGREEMENT

This
Subscription Agreement (this “Agreement”) is being
delivered to the purchaser identified on the signature page to this
Agreement (the “Subscriber”) in
connection with its investment in the securities of Majesco
Entertainment Company, a Delaware corporation (the
“Company”). The Company is
conducting a private placement (the “Offering”) of up
to            
(the “Maximum
Offering Amount”) of shares (the “Common Shares”) of the
Company’s common stock, par value $0.001 per share (the
“Common
Stock”) (or, at the election of any Subscriber, shares
of Series F Convertible Preferred Stock (the “Preferred Shares” and,
collectively with the Common Shares, the “Shares”), par value
$0.001 per share, which are convertible into shares of Common Stock
(the “Conversion
Shares”), with such rights and designations as set
forth in the form of Certificate of Designation of Preferences,
Rights and Limitations of Series F Convertible Preferred Stock,
attached hereto as Exhibit A, (the “Series F Certificate of
Designation”). The Shares will be sold at a purchase
price (the “Purchase
Price”) of $3.00 per share of Common Stock. For
purposes of this Agreement, the term “Securities” shall refer
to the Shares, the Preferred Shares and the Conversion
Shares.

IMPORTANT
INVESTOR NOTICES

NO
OFFERING LITERATURE OR ADVERTISEMENT IN ANY FORM MAY BE RELIED UPON
IN THE OFFERING OF THESE SECURITIES EXCEPT FOR THIS SUBSCRIPTION
AGREEMENT AND ANY SUPPLEMENTS HERETO, AND NO PERSON HAS BEEN
AUTHORIZED TO MAKE ANY REPRESENTATIONS EXCEPT THOSE CONTAINED
HEREIN.

UNTIL
SUCH TIME AS A FORM 8-K IS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION DISCLOSING THE TRANSACTIONS CONTEMPLATED HEREBY, THIS
AGREEMENT IS CONFIDENTIAL AND THE CONTENTS HEREOF MAY NOT BE
REPRODUCED, DISTRIBUTED OR DIVULGED BY OR TO ANY PERSONS OTHER THAN
THE RECIPIENT OR ITS REPRESENTATIVE, ACCOUNTANT OR LEGAL COUNSEL,
WITHOUT THE PRIOR WRITTEN CONSENT OF THE COMPANY. EACH PERSON WHO
ACCEPTS DELIVERY OF THIS AGREEMENT, ACKNOWLEDGES AND AGREES TO THE
FOREGOING RESTRICTIONS.

THIS
AGREEMENT DOES NOT CONSTITUTE AN OFFER OR SOLICITATION OF AN OFFER
TO ANY PERSON OR IN ANY JURISDICTION WHERE SUCH OFFER OR
SOLICITATION IS UNLAWFUL OR NOT AUTHORIZED. EACH PERSON WHO ACCEPTS
DELIVERY OF THIS AGREEMENT AGREES TO RETURN IT AND ALL RELATED
DOCUMENTS IF SUCH PERSON DOES NOT PURCHASE ANY OF THE SECURITIES
DESCRIBED HEREIN.

THIS
AGREEMENT DOES NOT PURPORT TO BE ALL-INCLUSIVE OR TO CONTAIN ALL OF
THE INFORMATION THAT YOU MAY DESIRE IN EVALUATING THE COMPANY, OR
AN INVESTMENT IN THE OFFERING. THIS AGREEMENT DOES NOT CONTAIN ALL
OF THE INFORMATION THAT WOULD NORMALLY APPEAR IN A PROSPECTUS FOR
AN OFFERING REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”). YOU MUST CONDUCT AND RELY ON
YOUR OWN EVALUATION OF THE COMPANY AND THE TERMS OF THE OFFERING,
INCLUDING THE MERITS AND RISKS INVOLVED, IN DECIDING WHETHER TO
INVEST IN THE OFFERING.

NEITHER
THE DELIVERY OF THIS AGREEMENT AT ANY TIME NOR ANY SALE OF
SECURITIES HEREUNDER SHALL IMPLY THAT INFORMATION CONTAINED HEREIN
IS CORRECT AS OF ANY TIME SUBSEQUENT TO ITS DATE. THE COMPANY WILL
EXTEND TO EACH PROSPECTIVE SUBSCRIBER (AND TO ITS REPRESENTATIVE,
ACCOUNTANT OR LEGAL COUNSEL, IF ANY) THE OPPORTUNITY, PRIOR TO ITS
PURCHASE OF SHARES, TO ASK QUESTIONS OF AND RECEIVE ANSWERS FROM
THE COMPANY CONCERNING THE OFFERING AND TO OBTAIN ADDITIONAL
INFORMATION, TO THE EXTENT THE COMPANY POSSESSES THE SAME OR CAN
ACQUIRE IT WITHOUT UNREASONABLE EFFORT OR EXPENSE, IN ORDER TO
VERIFY THE ACCURACY OF THE INFORMATION SET FORTH HEREIN. ALL SUCH
ADDITIONAL INFORMATION SHALL ONLY BE PROVIDED IN WRITING AND
IDENTIFIED AS SUCH BY THE COMPANY THROUGH ITS DULY AUTHORIZED
OFFICERS AND/OR DIRECTORS ALONE; NO ORAL INFORMATION OR INFORMATION
PROVIDED BY ANY BROKER OR THIRD PARTY MAY BE RELIED
UPON.

 

 

-1-

 

 

NO
REPRESENTATIONS, WARRANTIES OR ASSURANCES OF ANY KIND ARE MADE OR
SHOULD BE INFERRED WITH RESPECT TO THE ECONOMIC RETURN, IF ANY,
THAT MAY ACCRUE TO AN INVESTOR IN THE COMPANY.

FOR
RESIDENTS OF ALL STATES

THIS
OFFERING IS BEING MADE SOLELY TO “ACCREDITED
INVESTORS,” AS SUCH TERM IS DEFINED IN RULE 501 OF REGULATION
D UNDER THE SECURITIES ACT. THE SECURITIES HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE AND
WILL BE OFFERED AND SOLD IN RELIANCE UPON THE EXEMPTION FROM
REGISTRATION AFFORDED BY SECTION 4(a)(2) THEREUNDER AND REGULATION
D (RULE 506) OF THE SECURITIES ACT AND CORRESPONDING PROVISIONS OF
STATE SECURITIES LAWS.

THE
SECURITIES OFFERED HEREBY ARE SUBJECT TO RESTRICTIONS ON
TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD
EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND APPLICABLE STATE
LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. SUBSCRIBERS
SHOULD BE AWARE THAT THEY WILL BE REQUIRED TO BEAR THE FINANCIAL
RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF
TIME.

THE
SECURITIES OFFERED HEREBY HAVE NOT BEEN APPROVED OR DISAPPROVED BY
THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION, ANY STATE
SECURITIES COMMISSION OR ANY OTHER REGULATORY AUTHORITY, NOR HAVE
ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS
OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THIS AGREEMENT. ANY
REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

PROSPECTIVE
SUBSCRIBERS SHOULD NOT CONSTRUE THE CONTENTS OF THIS AGREEMENT AS
INVESTMENT, LEGAL, BUSINESS, OR TAX ADVICE. EACH SUBSCRIBER SHOULD
CONTACT HIS, HER OR ITS OWN ADVISORS REGARDING THE APPROPRIATENESS
OF THIS INVESTMENT AND THE TAX CONSEQUENCES THEREOF, WHICH MAY
DIFFER DEPENDING ON A SUBSCRIBER’S PARTICULAR FINANCIAL
SITUATION. IN NO EVENT SHOULD THIS AGREEMENT BE DEEMED OR
CONSIDERED TO BE TAX ADVICE PROVIDED BY THE COMPANY.

FOR
FLORIDA RESIDENTS ONLY

THE
SECURITIES REFERRED TO HEREIN WILL BE SOLD TO, AND ACQUIRED BY, THE
HOLDER IN A TRANSACTION EXEMPT UNDER § 517.061 OF THE FLORIDA
SECURITIES ACT. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER SAID
ACT IN THE STATE OF FLORIDA. IN ADDITION, ALL FLORIDA RESIDENTS
SHALL HAVE THE PRIVILEGE OF VOIDING THE PURCHASE WITHIN THREE (3)
DAYS AFTER THE FIRST TENDER OF CONSIDERATION IS MADE BY SUCH
SUBSCRIBER TO THE COMPANY, AN AGENT OF THE COMPANY, OR AN ESCROW
AGENT OR WITHIN THREE DAYS AFTER THE AVAILABILITY OF THAT PRIVILEGE
IS COMMUNICATED TO SUCH SUBSCRIBER, WHICHEVER OCCURS
LATER.

 

-2-

 

 

1.            

SUBSCRIPTION
AND PURCHASE PRICE

(a)
Subscription. Subject to the
conditions set forth in Section 2 hereof, the Subscriber hereby
subscribes for and agrees to purchase the number of Shares
indicated on the signature page hereof on the terms and conditions
described herein.

(b)
Purchase of Shares. The
Subscriber understands and acknowledges that the purchase price to
be remitted to the Company in exchange for the Shares shall be set
at $3.00 per share of Common Stock, for an aggregate purchase price
as set forth on the signature page hereof (the “Aggregate Purchase
Price”). The Subscriber’s delivery of this
Agreement to the Company shall be accompanied by payment for the
Shares subscribed for hereunder, payable in United States Dollars,
by wire transfer of immediately available funds delivered to
Sichenzia Ross Ference Kesner LLP, as escrow agent (the
“Escrow
Agent”) pursuant to the terms of the escrow agreement
(the “Escrow
Agreement”) attached hereto as Exhibit B. The
Subscriber understands and agrees that, subject to Section 2 and
applicable laws, by executing this Agreement, it is entering into a
binding agreement. The Subscriber understands and agrees that,
subject to Section 2 and applicable laws, by executing this
Agreement, it is entering into a binding agreement.

2.            

ACCEPTANCE,
OFFERING TERM AND CLOSING PROCEDURES

(a)
Acceptance. Subject to full,
faithful and punctual performance and discharge by the Company of
all of its duties, obligations and responsibilities as set forth in
this Agreement, the Series F Certificate of Designation, the
Registration Rights Agreement (as defined below), the Escrow
Agreement and any other agreement entered into between the
Subscriber and the Company relating to this subscription
(collectively, the "Transaction Documents") to be
performed or discharged on or prior to the Closing in which such
Subscriber participates, the Subscriber shall be legally bound to
purchase the Shares pursuant to the terms and conditions set forth
in this Agreement. For the avoidance of doubt, upon the occurrence
of the failure by the Company to fully, faithfully and punctually
perform and discharge any of its duties, obligations and
responsibilities as set forth in any of the Transaction Documents,
which shall have been performed or otherwise discharged prior to
the Closing (as defined below), the Subscriber may, on or prior to
the Closing, at its sole and absolute discretion, elect not to
purchase the Shares and provide instructions to the Company to
receive the full and immediate refund of the Aggregate Purchase
Price. In the event the Closing does not take place because of (i)
the election not to purchase the Shares by the Subscriber or (ii)
the failure to effectuate the Closing (as defined below) on or
prior to December 31, 2016 (unless extended in the discretion of
the Board of Directors) for any reason or no reason, this Agreement
and any other Transaction Documents shall thereafter be terminated
and have no force or effect, and the parties shall take all steps,
including the execution of instructions to the Company, to ensure
that the Aggregate Purchase Price shall promptly be returned or
caused to be returned to the Subscriber without interest thereon or
deduction therefrom.

(b)
Closing. The closing of the
purchase and sale of the Shares hereunder (the “Closing”) shall take
place at such time and place as determined by the Company. Closings
shall take place on a Business Day promptly following the
satisfaction of the conditions set forth in Section 6 below, as
determined by the Company (the “Closing Date”).
“Business
Day” shall mean from the hours of 9:00 a.m. (Eastern
Time) through 5:00 p.m. (Eastern Time) of a day other than a
Saturday, Sunday or other day on which commercial banks in New
York, New York are authorized or required to be closed. The Shares
purchased by the Subscriber will be delivered by the Company
promptly following the Final Closing Date (as defined herein) of
the Offering. The initial closing shall be referred to as the
“Initial
Closing” and may be held upon receipt and acceptance
of subscriptions prior to December 31, 2016. The date of the
Initial Closing is sometimes referred to as the “Initial Closing Date.”
Subsequent closings (each a “Subsequent Closing”) will
be held until the earlier to occur of: (i) the date on which the
Maximum Offering Amount has been subscribed for and accepted by the
Company, and (ii) February 28, 2017. The Offering may be extended
up to March 31, 2017 (the “Final Closing” and such
date of the Final Closing, the “Final Closing Date”),
without additional notice to Subscribers. Officers, directors and
affiliates of the Company and the placement agent, if any, may
purchase Securities in the Offering

 

 

 

-3-

 

 

(c)
Following Acceptance or
Rejection. The Subscriber acknowledges and agrees that this
Agreement and any other documents delivered in connection herewith
will be held by the Company. Prior to the Company’s
execution, in the event that this Agreement is not accepted by the
Company for whatever reason, which the Company expressly reserves
the right to do, this Agreement, the Aggregate Purchase Price
received (without interest thereon) and any other documents
delivered in connection herewith will be returned to the Subscriber
at the address of the Subscriber as set forth in this Agreement. If
this Agreement is accepted by the Company, the Company is entitled
to treat the Aggregate Purchase Price received as an interest free
loan to the Company until such time as the Subscription is
accepted.

(d)
Intentionally
Omitted.

 

(e)
Extraordinary Events
Regarding Common Stock. In the event that the Company shall
(a) issue additional shares of Common Stock as a dividend or
other distribution on outstanding Common Stock, (b) subdivide
its outstanding shares of Common Stock, or (c) combine its
outstanding shares of the Common Stock into a smaller number of
shares of Common Stock, then, in each such event, the Purchase
Price shall, simultaneously with the happening of such event, be
adjusted by multiplying the then Purchase Price by a fraction, the
numerator of which shall be the number of shares of Common Stock
outstanding immediately prior to such event and the denominator of
which shall be the number of shares of Common Stock outstanding
immediately after such event, and the product so obtained shall
thereafter be the Purchase Price then in effect. The Purchase
Price, as so adjusted, shall be readjusted in the same manner upon
the happening of any successive event or events described herein.
The number of Shares that the Subscriber shall thereafter be
entitled to receive (including number of shares of Conversion
Shares the Subscriber may thereafter be entitled to receive upon
conversion of the Preferred Shares) shall be adjusted to a number
determined by multiplying the number of shares of Common Stock that
would otherwise (but for the provisions of this Section) be
issuable on such conversion or exercise by a fraction of which (a)
the numerator is the Purchase Price that would otherwise (but for
the provisions of this Section) be in effect, and (b) the
denominator is the Purchase Price then in effect.

 

(f)
Certificate as to Adjustments.
In each case of any adjustment or readjustment in (i) the Shares,
(ii) the Preferred Shares, (iii) the number of Conversion Shares
issuable upon conversion of the Preferred Shares and (iv) the
conversion price of the Preferred Shares, the Company, at its
expense, will promptly cause its Chief Financial Officer or other
appropriate designee to compute such adjustment or readjustment in
accordance with the terms hereof and of the Series F Certificate of
Designation, and prepare a certificate setting forth such
adjustment or readjustment and showing in detail the facts upon
which such adjustment or readjustment is based. The Company will
forthwith mail a copy of each such certificate to the Subscriber.
To the extent any such certificate contains material non-public
information, the Company shall, no later than the first Business
Day after the date of delivery of such certificate to the
Subscriber, include such material non-public information in a
Current Report on Form 8-K filed with the United States Securities
and Exchange Commission (the “SEC”). From and after the
filing of such Form 8-K, the Company shall have disclosed all
material non-public information (if any) delivered to the
Subscriber by the Company or any of its Subsidiaries, or any of
their respective officers, directors, employees or agents in
connection with the transactions described in such
certificate.

3.            

THE
SUBSCRIBER’S REPRESENTATIONS, WARRANTIES AND
COVENANTS

Each
Subscriber, severally and not jointly, hereby acknowledges, agrees
with and represents, warrants and covenants to the Company, as
follows:

(a)
The Subscriber has full power and authority to enter into this
Agreement, the execution and delivery of which has been duly
authorized, if applicable, and this Agreement constitutes a valid
and legally binding obligation of the Subscriber, except as may be
limited by bankruptcy, reorganization, insolvency, moratorium and
similar laws of general application relating to or affecting the
enforcement of rights of creditors, and except as enforceability of
the obligations hereunder are subject to general principles of
equity (regardless of whether such enforceability is considered in
a proceeding in equity or law).

 

 

-4-

 

 

(b)
The Subscriber acknowledges its understanding that the Offering and
sale of the Securities is intended to be exempt from registration
under the Securities Act, by virtue of Section 4(a)(2) of the
Securities Act and the provisions of Regulation D promulgated
thereunder (“Regulation D”). In
furtherance thereof, the Subscriber represents and warrants to the
Company and its affiliates as follows:

(i)
The Subscriber realizes that the basis for the exemption from
registration may not be available if, notwithstanding the
Subscriber’s representations contained herein, the Subscriber
is merely acquiring the Securities for a fixed or determinable
period in the future, or for a market rise, or for sale if the
market does not rise. The Subscriber does not have any such
intention.

(ii)
The Subscriber realizes that the basis for exemption would not be
available if the Offering is part of a plan or scheme to evade
registration provisions of the Securities Act or any applicable
state or federal securities laws, except sales pursuant to a
registration statement or sales that are exempted under the
Securities Act.

(iii)
The Subscriber is acquiring the Securities solely for the
Subscriber’s own beneficial account, for investment purposes,
and not with a view towards, or resale in connection with, any
distribution of the Securities.

(iv)
The Subscriber has the financial ability to bear the economic risk
of the Subscriber’s investment, has adequate means for
providing for its current needs and contingencies, and has no need
for liquidity with respect to an investment in the
Company.

(v)
The Subscriber and the Subscriber’s attorney, accountant,
purchaser representative and/or tax advisor, if any (collectively,
the “Advisors”) has such
knowledge and experience in financial and business matters as to be
capable of evaluating the merits and risks of a prospective
investment in the Securities. If other than an individual, the
Subscriber also represents it has not been organized solely for the
purpose of acquiring the Securities.

(vi)
The Subscriber (together with its Advisors, if any) has received
all documents requested by the Subscriber, if any, and has
carefully reviewed them and understands the information contained
therein, prior to the execution of this Agreement.

(c)
The Subscriber is not relying on the Company or any of its
employees, agents, sub-agents or advisors with respect to the
legal, tax, economic and related considerations involved in this
investment. The Subscriber has relied on the advice of, or has
consulted with, only its Advisors. Each Advisor, if any, has
disclosed to the Subscriber in writing (a copy of which is annexed
to this Agreement) the specific details of any and all past,
present or future relationships, actual or contemplated, between
the Advisor and the Company or any affiliate or sub-agent
thereof.

(d)
The Subscriber has carefully considered the potential risks
relating to the Company and a purchase of the Securities, and fully
understands that the Securities are a speculative investment that
involves a high degree of risk of loss of the Subscriber’s
entire investment. Among other things, the Subscriber has carefully
considered each of the risks described under the heading
“Risk Factors”
and “Forward Looking
Statements” in the Company’s SEC Filings (as defined
below) and any additional disclosures in the nature of Risk Factors
described herein.

 

 

-5-

 

 

 (e)
The Subscriber will not sell or otherwise transfer any Securities
without registration under the Securities Act or an exemption
therefrom, and fully understands and agrees that the Subscriber
must bear the economic risk of its purchase because, among other
reasons, the Securities have not been registered under the
Securities Act or under the securities laws of any state and,
therefore, cannot be resold, pledged, assigned or otherwise
disposed of unless they are subsequently registered under the
Securities Act and under the applicable securities laws of such
states, or an exemption from such registration is available. In
particular, the Subscriber is aware that the Securities are
“restricted securities,” as such term is defined in
Rule 144 promulgated under the Securities Act (“Rule 144”), and they may
not be sold pursuant to Rule 144 unless all of the conditions of
Rule 144 are met. The Subscriber also understands that the Company
is under no obligation to register the Securities on behalf of the
Subscriber or to assist the Subscriber in complying with any
exemption from registration under the Securities Act or applicable
state securities laws. The Subscriber understands that any sales or
transfers of the Securities are further restricted by state
securities laws and the provisions of this Agreement.

(f)
No oral or written representations or warranties have been made, or
information furnished, to the Subscriber or its Advisors, if any,
by the Company or any of its officers, employees, agents,
sub-agents, affiliates, advisors or subsidiaries in connection with
the Offering, other than any representations of the Company
contained herein, and in subscribing for the Shares the Subscriber
is not relying upon any representations other than those contained
herein.

(g)
The Subscriber’s overall commitment to investments that are
not readily marketable is not disproportionate to the
Subscriber’s net worth, and an investment in the Securities
will not cause such overall commitment to become
excessive.

(h)
The Subscriber understands and agrees that the certificates for the
Securities shall bear substantially the following
legend:

“[NEITHER THE
ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE
NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE
BEEN][THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN]
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED
FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A)
AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL TO
THE HOLDER (IF REQUESTED BY THE COMPANY), IN A FORM REASONABLY
ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER
SAID ACT OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO
RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE
FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA
FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED
BY THE SECURITIES.”

 

 

-6-

 

 (i)
Certificates evidencing Securities
shall not be required to contain the legend set forth in
Section 3(h) above or any other
legend (i) while a registration statement covering the resale of
such Securities is effective under the Securities Act, (ii)
following any sale of such Securities pursuant to Rule 144
(assuming the transferor is not an affiliate of the Company), (iii)
if such Securities are eligible to be sold, assigned or transferred
under Rule 144 and the Subscriber is not an affiliate of the
Company (provided that the Subscriber provides the Company with
reasonable assurances that such Securities are eligible for sale,
assignment or transfer under Rule 144 which shall not include an
opinion of the Subscriber’s counsel), (iv) in connection with
a sale, assignment or other transfer (other than under Rule 144),
provided that the Subscriber provides the Company with an opinion
of counsel, in a form generally acceptable to the Company, to the
effect that such sale, assignment or transfer of the Securities may
be made without registration under the applicable requirements of
the Securities Act or (v) if such legend is not required under
applicable requirements of the Securities Act (including, without
limitation, controlling judicial interpretations and pronouncements
issued by the SEC). If a legend is not required pursuant to the
foregoing, the Company shall no later than three (3) business days
following the delivery by the Subscriber to the Company or the
transfer agent (with notice to the Company) of a legended
certificate representing such Securities (endorsed or with stock
powers attached, signatures guaranteed, and otherwise in form
necessary to affect the reissuance and/or transfer, if applicable),
together with any other deliveries from the Subscriber as may be
required above in this Section 3(i), as directed by the Subscriber,
either: (A) provided that the Company’s transfer agent is
participating in the DTC Fast Automated Securities Transfer Program
and such Securities are Common Shares or Conversion Shares, credit
the aggregate number of shares of Common Stock to which the
Subscriber shall be entitled to the Subscriber’s or its
designee’s balance account with DTC through its
Deposit/Withdrawal at Custodian system or (B) if the
Company’s transfer agent is not participating in the DTC Fast
Automated Securities Transfer Program, issue and deliver (via
reputable overnight courier) to the Subscriber, a certificate
representing such Securities that is free from all restrictive and
other legends, registered in the name of the Subscriber or its
designee. The Company shall be responsible for any transfer agent
fees or DTC fees with respect to any issuance of Securities or the
removal of any legends with respect to any Securities in accordance
herewith.

(j)
Neither the SEC nor any state securities commission has approved
the Securities or passed upon or endorsed the merits of the
Offering. There is no government or other insurance covering any of
the Securities.

(k)
The Subscriber and its Advisors, if any, have had a reasonable
opportunity to ask questions of and receive answers from a person
or persons acting on behalf of the Company concerning the Offering
and the business, financial condition, results of operations and
prospects of the Company, and all such questions have been answered
to the full satisfaction of the Subscriber and its Advisors, if
any.

(l)    
(i) In making
the decision to invest in the Securities the Subscriber has relied
solely upon the information provided by the Company in the
Transaction Documents. To the extent necessary, the Subscriber has
retained, at its own expense, and relied upon appropriate
professional advice regarding the investment, tax and legal merits
and consequences of this Agreement and the purchase of the
Securities hereunder. The Subscriber disclaims reliance on any
statements made or information provided by any person or entity in
the course of Subscriber’s consideration of an investment in
the Securities other than the Transaction
Documents.  

        
(ii) The
Subscriber represents and warrants that: (i) the Subscriber was
contacted regarding the sale of the Securities by the Company (or
an authorized agent or representative thereof) with whom the
Subscriber had a prior substantial pre-existing relationship and
(ii) no Securities were offered or sold to it by means of any form
of general solicitation or general advertising, and in connection
therewith, the Subscriber did not (A) receive or review any
advertisement, article, notice or other communication published in
a newspaper or magazine or similar media or broadcast over
television or radio, whether closed circuit, or generally
available; or (B) attend any seminar meeting or industry investor
conference whose attendees were invited by any general solicitation
or general advertising; or (C) observe any website or filing of the
Company with the SEC in which any offering of securities by the
Company was described and as a result learned of any offering of
securities by the Company.

 

 

-7-

 

 

(m)
The Subscriber has taken no action that would give rise to any
claim by any person for brokerage commissions, finders’ fees
or the like relating to this Agreement or the transactions
contemplated hereby.

(n)
The Subscriber is not relying on the Company or any of its
employees, agents, or advisors with respect to the legal, tax,
economic and related considerations of an investment in the
Securities, and the Subscriber has relied on the advice of, or has
consulted with, only its own Advisors.

(o)
The Subscriber acknowledges that any estimates or forward-looking
statements or projections furnished by the Company to the
Subscriber were prepared by the management of the Company in good
faith, but that the attainment of any such projections, estimates
or forward-looking statements cannot be guaranteed by the Company
or its management and should not be relied upon.

(p)
No oral or written representations have been made, or oral or
written information furnished, to the Subscriber or its Advisors,
if any, in connection with the Offering that are in any way
inconsistent with the information contained herein.

(q)
(For ERISA plans only) The fiduciary of the ERISA plan (the
“Plan”) represents that such fiduciary has been
informed of and understands the Company’s investment
objectives, policies and strategies, and that the decision to
invest “plan assets” (as such term is defined in ERISA)
in the Company is consistent with the provisions of ERISA that
require diversification of plan assets and impose other fiduciary
responsibilities. The Subscriber or Plan fiduciary (i) is
responsible for the decision to invest in the Company; (ii) is
independent of the Company and any of its affiliates; (iii) is
qualified to make such investment decision; and (iv) in making such
decision, the Subscriber or Plan fiduciary has not relied primarily
on any advice or recommendation of the Company or any of its
affiliates.

(r)
This Agreement is not enforceable by the Subscriber unless it has
been accepted by the Company, and the Subscriber acknowledges and
agrees that the Company reserves the right to reject any
subscription for any reason.

(s)
The Subscriber is an “Accredited Investor” as defined
in Rule 501(a) under the Securities Act. In general, an
“Accredited Investor” is deemed to be an institution
with assets in excess of $5,000,000 or individuals with a net worth
in excess of $1,000,000 (excluding such person’s residence)
or annual income exceeding $200,000 or $300,000 jointly with his or
her spouse.

(t)
The Subscriber, either alone or together with its representatives,
has such knowledge, sophistication and experience in business and
financial matters so as to be capable of evaluating the merits and
risks of the Offering, and has so evaluated the merits and risks of
such investment. The Subscriber has not authorized any person or
entity to act as its Purchaser Representative (as that term is
defined in Regulation D of the General Rules and Regulations under
the Securities Act) in connection with the Offering. The Subscriber
is able to bear the economic risk of an investment in the
Securities and, at the present time, is able to afford a complete
loss of such investment.

4.            

THE
COMPANY’S REPRESENTATIONS, WARRANTIES AND
COVENANTS

The
Company hereby acknowledges, agrees with and represents, warrants
and covenants to each Subscriber as of the date hereof and as of
the Closing Date, except as otherwise qualified by the SEC Filings,
as follows:

 

 

-8-

 

 

(a)
Organization and Qualification.
The Company is a corporation duly organized, validly existing and
in good standing under the laws of its state of incorporation. The
Company is duly qualified to do business, and is in good standing
in the states required due to (a) the ownership or lease of real or
personal property for use in the operation of the Company's
business or (b) the nature of the business conducted by the
Company, except where the failure to so qualify would not,
individually or in the aggregate, have a Material Adverse Effect.
The Company has all requisite power, right and authority to own,
operate and lease its properties and assets, to carry on its
business as now conducted, to execute, deliver and perform its
obligations under this Agreement and the other Transaction
Documents to which it is a party, and to carry out the transactions
contemplated hereby and thereby, subject to the Required Approvals.
All actions on the part of the Company and its officers and
directors necessary for the authorization, execution, delivery and
performance of this Agreement and the other Transaction Documents,
the consummation of the transactions contemplated hereby and
thereby, and the performance of all of the Company's obligations
under this Agreement and the other Transaction Documents have been
taken or will be taken prior to the Closing. This Agreement has
been, and the other Transaction Documents to which the Company is a
party on the Closing will be, duly executed and delivered by the
Company, and this Agreement is, and each of the other Transaction
Documents to which it is a party on the Closing will be, a legal,
valid and binding obligation of the Company, enforceable against
the Company in accordance with its terms, except as may be limited
by bankruptcy, reorganization, insolvency, moratorium and similar
laws of general application relating to or affecting the
enforcement of rights of creditors, and except as enforceability of
the obligations hereunder are subject to general principles of
equity (regardless of whether such enforceability is considered in
a proceeding in equity or law).

(b)
Issuance of Securities. The
Securities to be issued to the Subscriber pursuant to this
Agreement and the applicable Transaction Documents, when issued and
delivered in accordance with the terms of this Agreement and the
applicable Transaction Documents, will be duly and validly issued
and will be fully paid and non-assessable and the Conversion
Shares, when issued and delivered in accordance with the Series F
Certificate of Designation, will be duly and validly issued and
will be fully paid and non-assessable.

(c)
Authorization; Enforcement. The
execution, delivery and performance of this Agreement and the other
Transaction Documents by the Company, and the consummation of the
transactions contemplated hereby and thereby, will not (a)
constitute a violation (with or without the giving of notice or
lapse of time, or both) of any provision of any law or any
judgment, decree, order, regulation or rule of any court, agency or
other governmental authority applicable to the Company, (b) require
any consent, approval or authorization of, or declaration, filing
or registration with, any person, (c) result in a default (with or
without the giving of notice or lapse of time, or both) under,
acceleration or termination of, or the creation in any party of the
right to accelerate, terminate, modify or cancel, any agreement,
lease, note or other restriction, encumbrance, obligation or
liability to which the Company is a party or by which it is bound
or to which any assets of the Company are subject, (d) result in
the creation of any lien or encumbrance upon the assets of the
Company, or upon any shares of Common Stock, preferred stock or
other securities of the Company, (e) conflict with or result in a
breach of or constitute a default under any provision of the
articles of incorporation or bylaws of the Company, or (f)
invalidate or adversely affect any permit, license, authorization
or status used in the conduct of the business of the
Company.

(d)
Filings, Consents and Approvals
The Company is not required to obtain any consent, waiver,
authorization or order of, give any notice to, or make any filing
or registration with, any court or other federal, state, local or
other governmental authority or other Person in connection with the
execution, delivery and performance by the Company of the
Transaction Documents, other than: (i) approval
(“NASDAQ
Approval”) of the issuance and listing of the
securities by and on The NASDAQ Stock Market LLC
(“NASDAQ”), (ii) approval
of the Company’s stockholders of the Offering, which, if
required by NASDAQ, has been obtained prior to the date hereof or
(iii) the filing of Form D with the SEC and such filings as are
required to be made under applicable state securities laws
(collectively, the “Required
Approvals”).

 

 

-9-

 

 

(e)
SEC Filings. The Company is
subject to, and in full compliance with, the reporting requirements
of Section 13 or 15(d) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”). The
Company has made available to each Subscriber through the EDGAR
system true and complete copies of the Company’s filings for
the prior two full fiscal years plus any interim period
(collectively, the “SEC Filings”), and all
such SEC Filings are incorporated herein by reference. The SEC
Filings, when they were filed with the SEC (or, if any amendment
with respect to any such document was filed, when such amendment
was filed), complied in all material respects with the applicable
requirements of the Exchange Act and the rules and regulations
thereunder and did not, as of such date, contain an untrue
statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which
they were made, not misleading. All reports and statements required
to be filed by the Company under the Exchange Act have been filed,
together with all exhibits required to be filed therewith. The
Company and each of its direct and indirect subsidiaries, if any
(collectively, the “Subsidiaries”), are
engaged in all material respects only in the business described in
the SEC Filings, and the SEC Filings contain a complete and
accurate description in all material respects of the business of
the Company and the Subsidiaries.

(f)
No Financial Advisor. The
Company acknowledges and agrees that each Subscriber is acting
solely in the capacity of an arm’s length purchaser with
respect to the Securities and the transactions contemplated hereby.
The Company further acknowledges that Subscriber is not acting as a
financial advisor or fiduciary of the Company (or in any similar
capacity) with respect to this Agreement and the transactions
contemplated hereby and any advice given by any Subscriber or any
of its representatives or agents in connection with this Agreement
and the transactions contemplated hereby is merely incidental to
such Subscriber’s purchase of the Securities. The Company
further represents to each Subscriber that the Company’s
decision to enter into this Agreement has been based solely on the
independent evaluation of the transactions contemplated hereby by
the Company and its representatives.

(g)
Indemnification. The Company
will indemnify and hold harmless each Subscriber and, where
applicable, its directors, officers, employees, agents, advisors
and shareholders (each, an “Indemnitee”, from and
against any and all loss, liability, claim, damage and expense
whatsoever (including, but not limited to, any and all fees, costs
and expenses whatsoever reasonably incurred in investigating,
preparing or defending against any claim, lawsuit, administrative
proceeding or investigation whether commenced or threatened) (the
“Indemnified
Liabilities”), incurred by any Indemnitee as a result
of, or arising out of, or relating to (i) any misrepresentation or
breach of any representation or warranty made by the Company or any
Subsidiary in any of the Transaction Documents, (ii) any breach of
any covenant, agreement or obligation of the Company or any
Subsidiary contained in any of the Transaction Documents or (iii)
any cause of action, suit, proceeding or claim brought or made
against such Indemnitee by a third party (including for these
purposes a derivative action brought on behalf of the Company or
any Subsidiary) or which otherwise involves such Indemnitee that
arises out of or results from (A) the execution, delivery,
performance or enforcement of any of the Transaction Documents, (B)
any transaction financed or to be financed in whole or in part,
directly or indirectly, with the proceeds of the issuance of the
Securities, or (C) the status of such Subscriber or holder of the
Securities either as an investor in the Company pursuant to the
transactions contemplated by the Transaction Documents or as a
party to this Agreement (including, without limitation, as a party
in interest or otherwise in any action or proceeding for injunctive
or other equitable relief). To the extent that the foregoing
undertaking by the Company may be unenforceable for any reason, the
Company shall make the maximum contribution to the payment and
satisfaction of each of the Indemnified Liabilities which is
permissible under applicable law.

 

 

-10-

 

 

(h)
Capitalization and Additional
Issuances. The capitalization of the Company is as set forth
in the SEC Filings.
The Company has not issued any capital stock since its most recently filed periodic report under the
Exchange Act. Except as set forth in the SEC Filings ,no
Person has any right of first refusal, preemptive right, right of
participation, or any similar right to participate in the
transactions contemplated by the Transaction Documents. Except as
disclosed in the SEC Filings, there are no outstanding options,
warrants, scrip rights to subscribe to, calls or commitments of any
character whatsoever relating to, or securities, rights or
obligations convertible into or exercisable or exchangeable for, or
giving any Person any right to subscribe for or acquire any shares
of Common Stock, or contracts, commitments, understandings or
arrangements by which the Company or any Subsidiary is or may
become bound to issue additional shares of Common Stock or Common
Stock equivalents. Except as set forth in the SEC Filings, the
issuance and sale of the Securities will not obligate the Company
to issue shares of Common Stock or other securities to any Person
(other than the Subscribers) and will not result in a right of any
holder of Company securities to adjust the exercise, conversion,
exchange or reset price under any of such securities. All of the
outstanding shares of capital stock of the Company are duly
authorized, validly issued, fully paid and nonassessable, have been
issued in material compliance with all federal and state securities
laws, and none of such outstanding shares was issued in violation
of any preemptive rights or similar rights to subscribe for or
purchase securities. No further approval or authorization of any
stockholder, the Board of Directors or others is required for the
issuance and sale of the Securities. Except for NASDAQ Approval, no
further approval or authorization of any stockholder, the Board of
Directors or others is required for the issuance and sale of the
Securities. Except as disclosed in the SEC Filings, there are no
stockholders agreements, voting agreements or other similar
agreements with respect to the Company’s capital stock to
which the Company is a party or, to the knowledge of the Company,
between or among any of the Company’s
stockholders.

(i)
Private
Placements. Assuming the
accuracy of each Subscriber’s representations and warranties
set forth in Section 3, no registration under the Securities Act is
required for the offer and sale of the Securities by the Company to
the Subscribers as contemplated hereby.

(j)
Investment
Company. The Company is not,
and is not an affiliate of, and immediately after receipt of
payment for the Shares will not be or be an affiliate of, an
“investment company” within the meaning of the
Investment Company Act of 1940, as amended. The Company shall
conduct its business in a manner so that it will not become subject
to the Investment Company Act.

(k)
Reporting
Company/Shell
Company Status. The Company is a publicly-held company
subject to reporting obligations pursuant to Sections 12(g) and 13
of the Exchange Act. Pursuant to the provisions of the Exchange
Act, the Company has timely filed all reports and other materials
required to be filed by the Company thereunder with the SEC during
the preceding twelve months. The Company, as of the Closing Date,
is not, and has never been, a “shell company”, as that
term is employed in Rule 144 under the Securities Act. The Company
is in full compliance with the continued listing requirements of
NASDAQ and has no reason to believe that it will not in the
foreseeable future continue to be in compliance with all such
listing and maintenance requirements.

(l)
Litigation. Except as set forth
in the SEC Filings, there is no action, suit, proceeding, inquiry
or investigation before or by the Trading Market, any court, public
board, other Governmental Entity, self-regulatory organization or
body pending or, to the knowledge of the Company, threatened
against or affecting the Company or any of its Subsidiaries, the
Common Stock or any of the Company’s or its
Subsidiaries’ officers or directors which is outside of the
ordinary course of business or individually or in the aggregate
material to the Company or any of its Subsidiaries.  No
director, officer or employee of the Company or any of its
Subsidiaries has willfully violated 18 U.S.C. §1519 or engaged
in spoliation in reasonable anticipation of litigation. 
Without limitation of the foregoing, there has not been, and to the
knowledge of the Company, there is not pending or contemplated, any
investigation by the SEC involving the Company, any of its
Subsidiaries or any current or former director or officer of the
Company or any of its Subsidiaries.  The SEC has not issued
any stop order or other order suspending the effectiveness of any
registration statement filed by the Company under the Securities
Act or the Exchange Act. “Governmental Entity”
means any nation, state, county, city, town, village, district, or
other political jurisdiction of any nature, federal, state, local,
municipal, foreign, or other government, governmental or
quasi-governmental authority of any nature (including any
governmental agency, branch, department, official, or entity and
any court or other tribunal), multi-national organization or body;
or body exercising, or entitled to exercise, any administrative,
executive, judicial, legislative, police, regulatory, or taxing
authority or power of any nature or instrumentality of any of the
foregoing,

 

 

-11-

 

 

including
any entity or enterprise owned or controlled by a government or a
public international organization or any of the foregoing.
“Trading
Market” means any of the following markets or
exchanges on which the Common Stock is listed or quoted for trading
on the date in question: the New York Stock Exchange, the NYSE MKT,
The NASDAQ Capital Market, The NASDAQ Global Market, The NASDAQ
Global Select Market, OTCQX, OTCQB, or the OTC Bulletin Board (or
any successors to any of the foregoing).

 

(m)
Employee Relations. Neither the
Company nor any of its Subsidiaries is a party to any collective
bargaining agreement or employs any member of a union.  The
Company believes that its and its Subsidiaries’ relations
with their respective employees are good.  The Company and its
Subsidiaries are in compliance with all federal, state, local and
foreign laws and regulations respecting labor, employment and
employment practices and benefits, terms and conditions of
employment and wages and hours, except where failure to be in
compliance would not, either individually or in the aggregate,
reasonably be expected to result in a Material Adverse Effect.
“Material Adverse
Effect” means any material adverse effect on (i) the
business, properties, assets, liabilities, operations (including
results thereof), condition (financial or otherwise) or prospects
of the Company or any Subsidiary, individually or taken as a whole,
(ii) the transactions contemplated hereby or in any of the other
Transaction Documents or (iii) the authority or ability of the
Company or any of its Subsidiaries to perform any of their
respective obligations under any of the Transaction
Documents. 

 

(n)
Tax Status. The Company and
each of its Subsidiaries (i) has timely made or filed all foreign,
federal and state income and all other tax returns, reports and
declarations required by any jurisdiction to which it is subject,
(ii) has timely paid all taxes and other governmental assessments
and charges that are material in amount, shown or determined to be
due on such returns, reports and declarations, except those being
contested in good faith and (iii) has set aside on its books
provision reasonably adequate for the payment of all taxes for
periods subsequent to the periods to which such returns, reports or
declarations apply.  There are no unpaid taxes in any material
amount claimed to be due by the taxing authority of any
jurisdiction, and the officers of the Company and its Subsidiaries
know of no basis for any such claim.  The Company is not
operated in such a manner as to qualify as a passive foreign
investment company, as defined in Section 1297 of the U.S. Internal
Revenue Code of 1986, as amended.

(o)
Indebtedness and Other
Contracts. Except as set forth in the SEC Filings, neither
the Company nor any of its Subsidiaries, (i) has any outstanding
Indebtedness (as defined below), (ii) is a party to any contract,
agreement or instrument, the violation of which, or default under
which, by the other party(ies) to such contract, agreement or
instrument could reasonably be expected to result in a Material
Adverse Effect, (iii) is in violation of any term of, or in default
under, any contract, agreement or instrument relating to any
Indebtedness, except where such violations and defaults would not
result, individually or in the aggregate, in a Material Adverse
Effect, or (iv) is a party to any contract, agreement or instrument
relating to any Indebtedness, the performance of which, in the
judgment of the Company’s officers, has or is expected to
have a Material Adverse Effect.  For purposes of this
Agreement:  (x) “Indebtedness” of any
Person means, without duplication (A) all indebtedness for borrowed
money, (B) all obligations issued, undertaken or assumed as the
deferred purchase price of property or services (including, without
limitation, “capital leases” in accordance with
generally accepted accounting principles) obligations with respect
to letters of credit, surety bonds and other similar instruments,
(D) all obligations evidenced by notes, bonds, debentures or
similar instruments, including obligations so evidenced incurred in
connection with the acquisition of property, assets or businesses,
(E) all indebtedness created or arising under any conditional sale
or other title retention agreement, or incurred as financing, in
either case with respect to any property or assets acquired with
the proceeds of such indebtedness (even though the rights and
remedies of the seller or bank under such agreement in the event of
default are limited to repossession or sale of such property), (F)
all monetary obligations under any leasing or similar arrangement
which, in connection with generally accepted accounting principles,
consistently applied for the periods covered thereby, is classified
as a capital lease, (G) all indebtedness referred to in clauses (A)
through (F) above secured by (or for which the holder of such
Indebtedness has an existing right, contingent or otherwise, to be
secured by) any mortgage, claim, lien, tax, right of first refusal,
pledge, charge, security interest or other encumbrance upon or in
any property or assets (including accounts and contract rights)
owned by any Person, even though the Person which owns such assets
or property has not assumed or become liable for the payment of
such indebtedness, and (H) all Contingent Obligations in respect of
indebtedness or obligations of others of the kinds referred to in
clauses (A) through (G) above; (y) “Contingent Obligation”
means, as to any Person, any direct or indirect liability,
contingent or otherwise, of that Person with respect to any
indebtedness, lease, dividend or other

 

-12-

 

 

obligation of
another Person if the primary purpose or intent of the Person
incurring such liability, or the primary effect thereof, is to
provide assurance to the obligee of such liability that such
liability will be paid or discharged, or that any agreements
relating thereto will be complied with, or that the holders of such
liability will be protected (in whole or in part) against loss with
respect thereto; and (z) “Person” means an
individual, a limited liability company, a partnership, a joint
venture, a corporation, a trust, an unincorporated organization,
any other entity and any Governmental Entity or any department or
agency thereof.

(p)
No Undisclosed Events, Liabilities,
Developments or Circumstances. Since the date of the latest
audited financial statements included within the SEC Filings,
except as specifically disclosed in a subsequent SEC Filing: (i)
there has been no event, occurrence or development that has had or
that could reasonably be expected to result in a Material Adverse
Effect, (ii) the Company has not incurred any material liabilities
(contingent or otherwise) other than (A) trade payables and accrued
expenses incurred in the ordinary course of business consistent
with past practice and (B) liabilities not required to be reflected
in the Company’s financial statements pursuant to GAAP or
disclosed in filings made with the SEC, (iii) the Company has not
altered its method of accounting, (iv) the Company has not declared
or made any dividend or distribution of cash or other property to
its stockholders or purchased, redeemed or made any agreements to
purchase or redeem any shares of its capital stock and (v) except
as set forth in the SEC Filings, Company has not issued any equity
securities to any officer, director or Affiliate. The Company does
not have pending before the SEC any request for confidential
treatment of information. Except for the issuance of the Securities
contemplated by this Agreement or as set forth in the SEC Filings,
no event, liability, fact, circumstance, occurrence or development
has occurred or exists or is reasonably expected to occur or exist
with respect to the Company or its Subsidiaries or their respective
businesses, properties, operations, assets or financial condition,
that would be required to be disclosed by the Company under
applicable securities laws at the time this representation is made
or deemed made that has not been publicly disclosed at least two
Trading Days prior to the date that this representation is
made.

(q)
No
Additional Agreements. Neither
the Company nor any of its Subsidiaries has any agreement or
understanding with any Subscriber with respect to the transactions
contemplated by the Transaction Documents other than pursuant to
documents substantially identical to the Transaction
Documents.

(r)
No Disqualification
Events. To the Company’s knowledge, none of the
Company, any of its predecessors, any affiliated issuer, any
director, executive officer, other officer of the Company
participating in the offering contemplated hereby, any beneficial
owner of 20% or more of the Company's outstanding voting equity
securities, calculated on the basis of voting power, nor any
promoter (as that term is defined in Rule 405 under the Securities
Act) connected with the Company in any capacity at the time of sale
(each, an “Issuer
Covered Person”) is subject to any of the "Bad Actor"
disqualifications described in Rule 506(d)(1)(i) to (viii) under
the Securities Act (a “Disqualification Event”),
except for a Disqualification Event covered by Rule 506(d)(2) or
(d)(3). The Company has exercised reasonable care to determine
whether any Issuer Covered Person is subject to a Disqualification
Event.

(s)
General Solicitation . None of the
Company, any of its affiliates (as defined in Rule 501(b) under the
Securities Act) or any person acting on behalf of the Company or
such affiliate will solicit any offer to buy or offer or sell the
Securities by means of any form of general solicitation or general
advertising within the meaning of Regulation D, including: (i)
any advertisement, article, notice or other communication published
in any newspaper, magazine or similar medium or broadcast over
television or radio; and (ii) any seminar or meeting whose
attendees have been invited by any general solicitation or general
advertising.

(t)
Compliance. To the
Company’s knowledge, neither the Company nor any Subsidiary:
(i) is in default under or in violation of (and no event has
occurred that has not been waived that, with notice or lapse of
time or both, would result in a default by the Company or any
Subsidiary under), nor has the Company or any Subsidiary received
notice of a claim that it is in default under or that it is in
violation of, any indenture, loan or credit agreement or any other
agreement or instrument to which it is a party or by which it or
any of its properties is bound (whether or not such default or
violation has been waived), (ii) is in violation of any judgment,
decree or order of any court, arbitrator or other governmental
authority or (iii) is or has been in violation of any statute,
rule, ordinance or regulation of any governmental authority,
including without limitation all foreign, federal, state and local
laws relating to taxes, environmental protection, occupational
health and safety, product quality and safety and employment and
labor matters, except in each case as could not have or reasonably
be expected to result in a Material Adverse Effect.

 

 

-13-

 

 

(u)
Regulatory Permits. The Company
and the Subsidiaries possess all certificates, authorizations and
permits issued by the appropriate federal, state, local or foreign
regulatory authorities necessary to conduct their respective
businesses as described in the SEC Filings, except where the
failure to possess such permits could not reasonably be expected to
result in a Material Adverse Effect (“Material Permits”), and
neither the Company nor any Subsidiary has received any notice of
proceedings relating to the revocation or modification of any
Material Permit.

(v)
Title to Assets. The Company
and the Subsidiaries have good and marketable title in fee simple
to all real property (if any) owned by them and good and marketable
title in all personal property owned by them that is material to
the business of the Company and the Subsidiaries, in each case free
and clear of all liens, except for (i) liens as do not materially
affect the value of such property and do not materially interfere
with the use made and proposed to be made of such property by the
Company and the Subsidiaries and (ii) liens for the payment of
federal, state or other taxes, for which appropriate reserves have
been made in accordance with GAAP and, the payment of which is
neither delinquent nor subject to penalties. Any real property and
facilities held under lease by the Company and the Subsidiaries are
held by them under valid, subsisting and enforceable leases with
which the Company and the Subsidiaries are in
compliance.

(w)
Intellectual
Property.

1.           The
term “Intellectual
Property Rights” includes:

(a)
the name of the Company and each Subsidiary, all fictional business
names, trading names, registered and unregistered trademarks,
service marks, and applications of the Company and each Subsidiary
(collectively, “Marks'');

(b)
all patents, patent applications, and inventions and discoveries
that may be patentable of the Company and each Subsidiary
(collectively, “Patents'');

(c)
all copyrights in both published works and published works of the
Company and each Subsidiary (collectively, “Copyrights”);

(d)
all rights in mask works of the Company and each Subsidiary
(collectively, “Rights in Mask Works'');
and

(e)
all know-how, trade secrets, confidential information, customer
lists, software, technical information, data, process technology,
plans, drawings, and blue prints (collectively, “Trade Secrets''); owned, used,
or licensed by the Company and each Subsidiary as licensee or
licensor.

2.           Know-How
Necessary for the Business. The Intellectual Property Rights
are all those necessary for the operation of the Company’s
businesses as it is currently conducted or as represented, in
writing, to the Subscriber to be conducted. The Company is the
owner of all right, title, and interest in and to each of the
Intellectual Property Rights, free and clear of all liens, security
interests, charges, encumbrances, equities, and other adverse
claims, and has the right to use all of the Intellectual Property
Rights. To the Company’s knowledge, no employee of the
Company has entered into any contract that restricts or limits in
any way the scope or type of work in which the employee may be
engaged or requires the employee to transfer, assign, or disclose
information concerning his work to anyone other than of the
Company.

3.      
     Patents. The Company is the
owner of all right, title and interest in and to each of the
Patents, free and clear of all liens and other adverse claims,
purchase price payments, or license agreements now or hereafter
existing).

4.           Trademarks.
The Company is the owner of all right, title, and interest in and
to each of the Marks, free and clear of all liens and other adverse
claims. All Marks that have been registered with the United States
Patent and Trademark Office are currently in compliance with all
formal legal requirements (including the timely post-registration
filing of affidavits of use and incontestability and renewal
applications), are valid and enforceable, and are not subject to
any maintenance fees or taxes or actions falling due within ninety
days after the Closing Date.

 

 

-14-

 

 

5.           Copyrights.
The Company is the owner of all right, title, and interest in and
to each of the Copyrights, free and clear of all liens and other
adverse claims. All the Copyrights have been registered and are
currently in compliance with formal requirements, are valid and
enforceable, and are not subject to any maintenance fees or taxes
or actions falling due within ninety days after the date of the
Closing

6.           Trade
Secrets. With respect to each Trade Secret, the
documentation relating to such Trade Secret is current, accurate,
and sufficient in detail and content to identify and explain it and
to allow its full and proper use without reliance on the knowledge
or memory of any individual. The Company has taken all reasonable
precautions to protect the secrecy, confidentiality, and value of
its Trade Secrets. The Company has good title and an absolute right
to use the Trade Secrets. The Trade Secrets are not part of the
public knowledge or literature, and, to the Company’s
knowledge, have not been used, divulged, or appropriated either for
the benefit of any Person (other the Company) or to the detriment
of the Company. No Trade Secret is subject to any adverse claim or
has been challenged or threatened in any way.

(x)
Stock Option Plans. Each stock
option granted by the Company under the stock option plan was
granted (i) in accordance with the terms of such stock option plan
and (ii) with an exercise price at least equal to the fair market
value of the Common Stock on the date such stock option would be
considered granted under GAAP and applicable law. No stock option
granted under any stock option plan has been backdated. The Company
has not knowingly granted, and there is no and has been no Company
policy or practice to knowingly grant, stock options prior to, or
otherwise knowingly coordinate the grant of stock options with, the
release or other public announcement of material information
regarding the Company or its Subsidiaries or their financial
results or prospects.

(y)
Office of Foreign Assets
Control. Neither the Company nor any Subsidiary nor, to the
Company's knowledge, any director, officer, agent, employee or
affiliate of the Company is currently subject to any U.S. sanctions
administered by the Office of Foreign Assets Control of the U.S.
Treasury Department (“OFAC”).

(z)
Listing
and Maintenance Requirements.  The Common Stock is quoted The NASDAQ
Capital Market under the symbol “COOL”. The Company has
not, except as disclosed in the SEC Filings, in the twenty-four
(24) months preceding the date hereof, received notice from any
Trading Market on which the Common Stock is or has been listed or
quoted to the effect that the Company is not in compliance with the
listing or maintenance requirements of such Trading
Market.

(aa)
Regulation M Compliance. 
The Company has not, and to its knowledge no one acting on its
behalf has, (i) taken, directly or indirectly, any action designed
to cause or to result in the stabilization or manipulation of the
price of any security of the Company to facilitate the sale or
resale of any of the Securities, (ii) sold, bid for, purchased, or
paid any compensation for soliciting purchases of, any of the
Securities, or (iii) paid or agreed to pay to any Person any
compensation for soliciting another to purchase any other
securities of the Company.

(bb)
Money Laundering. The
operations of the Company and its Subsidiaries are and have been
conducted at all times in compliance in all material respects with
applicable financial record-keeping and reporting requirements of
the Currency and Foreign Transactions Reporting Act of 1970, as
amended, applicable money laundering statutes and applicable rules
and regulations thereunder (collectively, the “Money Laundering Laws”),
and no action, suit or proceeding by or before any court or
governmental agency, authority or body or any arbitrator involving
the Company or any Subsidiary with respect to the Money Laundering
Laws is pending or, to the knowledge of the Company or any
Subsidiary, threatened

 

 

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(cc)
Acknowledgment
Regarding Subscriber’s Trading Activity. Anything in this Agreement or elsewhere herein
to the contrary notwithstanding, it is understood and acknowledged
by the Company that: (i) none of the Subscribers has been asked by
the Company to agree, nor has any Subscriber agreed, to desist from
purchasing or selling, long and/or short, securities of the
Company, or “derivative” securities based on securities
issued by the Company or to hold the Securities for any specified
term, (ii) past or future open market or other transactions by any
Subscriber, specifically including, without limitation, Short Sales
or “derivative” transactions, before or after the
closing of this or future private placement transactions, may
negatively impact the market price of the Company’s
publicly-traded securities, (iii) any Subscriber, and
counter-parties in “derivative” transactions to which
any such Subscriber is a party, directly or indirectly, may
presently have a “short” position in the Common Stock
and (iv) each Subscriber shall not be deemed to have any
affiliation with or control over any arm’s length
counter-party in any “derivative” transaction.
The Company further understands and acknowledges that (y) one or
more Subscribers may engage in hedging activities at various times
during the period that the Securities are outstanding, including,
without limitation, during the periods that the value of the Common
Shares or Conversion Shares deliverable with respect to Securities
are being determined, and (z) such hedging activities (if any)
could reduce the value of the existing stockholders' equity
interests in the Company at and after the time that the hedging
activities are being conducted.  The Company acknowledges that
such aforementioned hedging activities do not constitute a breach
of any of the Transaction Documents. There are no disagreements of any kind presently
existing, or reasonably anticipated by the Company to arise,
between the Company and the accountants and lawyers formerly or
presently employed by the Company and the Company is current with
respect to any fees owed to its accountants and lawyers
which could affect the
Company’s ability to perform any of its obligations under any
of the Transaction Documents.

(dd)
Acknowledgment Regarding
Subscribers’ Purchase of Securities. The Company
acknowledges and agrees that each of the Subscribers is acting
solely in the capacity of an arm’s length Subscriber with
respect to the Transaction Documents and the transactions
contemplated thereby. The Company further acknowledges that no
Subscriber is acting as a financial advisor or fiduciary of the
Company (or in any similar capacity) with respect to the
Transaction Documents and the transactions contemplated thereby and
any advice given by any Subscriber or any of their respective
representatives or agents in connection with the Transaction
Documents and the transactions contemplated thereby is merely
incidental to the Subscribers’ purchase of the Securities.
The Company further represents to each Subscriber that the
Company’s decision to enter into this Agreement and the other
Transaction Documents has been based solely on the independent
evaluation of the transactions contemplated hereby by the Company
and its representatives.

(ee)
No Integrated Offering.
Assuming the accuracy of the Subscribers’ representations and
warranties set forth in Section 3, neither the Company, nor any of
its Affiliates, nor any Person acting on its or their behalf has,
directly or indirectly, made any offers or sales of any security or
solicited any offers to buy any security, under circumstances that
would cause this offering of the Securities to be integrated with
prior offerings by the Company for purposes of: (i) the Securities
Act which would require the registration of any such securities
under the Securities Act, or (ii) any applicable shareholder
approval provisions of any Trading Market on which any of the
securities of the Company are listed or designated.

(ff)
Application of Takeover
Protections. The Company and the Board of Directors will
have taken as of the Closing Date all necessary action, if any, in
order to render inapplicable any control share acquisition,
business combination, poison pill (including any distribution under
a rights agreement) or other similar anti-takeover provision under
the Company’s certificate of incorporation (or similar
charter documents) or the laws of its state of incorporation that
is or could become applicable to the Subscribers as a result of the
Subscribers and the Company fulfilling their obligations or
exercising their rights under the Transaction Documents, including
without limitation as a result of the Company’s issuance of
the Securities and the Subscribers’ ownership of the
Securities.

(gg)
Registration Rights. No Person
other than the Subscribers herein has any right to cause the
Company or any Subsidiary to effect the registration under the
Securities Act of any securities of the Company or any
Subsidiary.

 

 

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(hh)
Certain Fees. No brokerage,
finder’s fees, commissions or due diligence fees are or will
be payable by the Company or any Subsidiary to any broker,
financial advisor or consultant, finder, placement agent,
investment banker, bank or other Person with respect to the
transactions contemplated by the Transaction Documents. The
Subscribers shall have no obligation with respect to any such fees
or with respect to any claims made by or on behalf of other Persons
for fees of a type contemplated in this Section 4(hh) that may be
due in connection with the transactions contemplated by the
Transaction Documents.

(ii)
Sarbanes-Oxley; Internal Accounting
Controls. Except as set forth in the SEC Filings, the
Company and the Subsidiaries are in material compliance with any
and all applicable requirements of the Sarbanes-Oxley Act of 2002
that are effective as of the date hereof, and any and all
applicable rules and regulations promulgated by the Commission
thereunder that are effective as of the date hereof and as of the
Closing Date. Except as set forth in the Company and the Subsidiaries maintain a system of
internal accounting controls sufficient to provide reasonable
assurance that: (i) transactions are executed in accordance with
management’s general or specific authorizations, (ii)
transactions are recorded as necessary to permit preparation of
financial statements in conformity with GAAP and to maintain asset
accountability, (iii) access to assets is permitted only in
accordance with management’s general or specific
authorization, and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and
appropriate action is taken with respect to any differences. Except
as set forth in the SEC Filings, the Company and the Subsidiaries
have established disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and the
Subsidiaries and designed such disclosure controls and procedures
to ensure that information required to be disclosed by the Company
in the reports it files or submits under the Exchange Act is
recorded, processed, summarized and reported, within the time
periods specified in the Commission’s rules and forms. The
Company’s certifying officers have evaluated the
effectiveness of the disclosure controls and procedures of the
Company and the Subsidiaries as of the end of the period covered by
the most recently filed periodic report under the Exchange Act
(such date, the “Evaluation
Date”). The Company
presented in its most recently filed periodic report under the
Exchange Act the conclusions of the certifying officers about the
effectiveness of the disclosure controls and procedures based on
their evaluations as of the Evaluation Date. Since the Evaluation
Date, there have been no changes in the internal control over
financial reporting (as such term is defined in the Exchange Act)
of the Company and its Subsidiaries that have materially affected,
or is reasonably likely to materially affect, the internal control
over financial reporting of the Company and its
Subsidiaries.

(jj)
Transactions With Affiliates and
Employees. Except as set forth in the SEC Filings, none of
the officers or directors of the Company or any Subsidiary and, to
the knowledge of the Company, none of the employees of the Company
or any Subsidiary is presently a party to any transaction with the
Company or any Subsidiary (other than for services as employees,
officers and directors), including any contract, agreement or other
arrangement providing for the furnishing of services to or by,
providing for rental of real or personal property to or from,
providing for the borrowing of money from or lending of money to or
otherwise requiring payments to or from any officer, director or
such employee or, to the knowledge of the Company, any entity in
which any officer, director, or any such employee has a substantial
interest or is an officer, director, trustee, stockholder, member
or partner, in each case in excess of $50,000 other than for: (i)
payment of salary or consulting fees for services rendered, (ii)
reimbursement for expenses incurred on behalf of the Company and
(iii) other employee benefits, including stock option agreements
under any stock option plan of the Company.

(kk)
Insurance. The Company and the
Subsidiaries are insured by insurers of recognized financial
responsibility against such losses and risks and in such amounts as
are prudent and customary in the businesses in which the Company
and the Subsidiaries are engaged, including, but not limited to,
directors and officers insurance coverage at least equal to the
Aggregate Purchase Price. Neither the Company nor any Subsidiary
has any reason to believe that it will not be able to renew its
existing insurance coverage as and when such coverage expires or to
obtain similar coverage from similar insurers as may be necessary
to continue its business without a significant increase in
cost.

 

 

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(ll)
Disclosure. The Company
confirms that neither it nor any other Person acting on its behalf
has provided any of the Subscribers or their agents or counsel with
any information that constitutes or could reasonably be expected to
constitute material, non-public information regarding the Company
or any of its Subsidiaries, other than the existence of the
transactions contemplated by this Agreement and the other
Transaction Documents. The Company understands and confirms that
each of the Subscribers will rely on the foregoing representations
in effecting transactions in securities of the Company. All
disclosure provided to the Subscribers regarding the Company and
its Subsidiaries, their businesses and the transactions
contemplated hereby, including the schedules to this Agreement,
furnished by or on behalf of the Company or any of its Subsidiaries
is true and correct and does not contain any untrue statement of a
material fact or omit to state any material fact necessary in order
to make the statements made therein, in the light of the
circumstances under which they were made, not misleading. No event
or circumstance has occurred or information exists with respect to
the Company or any of its Subsidiaries or its or their business,
properties, liabilities, prospects, operations (including results
thereof) or conditions (financial or otherwise), which, under
applicable law, rule or regulation, requires public disclosure at
or before the date hereof or announcement by the Company but which
has not been so publicly disclosed. The Company acknowledges and
agrees that no Subscriber makes or has made any representations or
warranties with respect to the transactions contemplated hereby
other than those specifically set forth in Section 3.

(mm)
Foreign Corrupt Practices.
Neither the Company nor any Subsidiary, to the knowledge of the
Company or any Subsidiary, any agent or other person acting on
behalf of the Company or any Subsidiary, has: (i) directly or
indirectly, used any funds for unlawful contributions, gifts,
entertainment or other unlawful expenses related to foreign or
domestic political activity, (ii) made any unlawful payment to
foreign or domestic government officials or employees or to any
foreign or domestic political parties or campaigns from corporate
funds, (iii) failed to disclose fully any contribution made by the
Company or any Subsidiary (or made by any person acting on its
behalf of which the Company is aware) which is in violation of law
or (iv) violated in any material respect any provision of Foreign
Corrupt Practices Act.

(nn)
U.S. Real Property Holding
Corporation. The Company is not and has never been a U.S.
real property holding corporation within the meaning of Section 897
of the Internal Revenue Code of 1986, as amended, and the Company
shall so certify upon Subscriber’s request.

(oo)
Bank Holding Company Act.
Neither the Company nor any of its Subsidiaries or affiliates is
subject to the Bank Holding Company Act of 1956, as amended (the
“BHCA”)
and to regulation by the Board of Governors of the Federal Reserve
System (the “Federal
Reserve”). Neither the Company nor any of its
Subsidiaries or affiliates owns or controls, directly or
indirectly, five percent (5%) or more of the outstanding shares of
any class of voting securities or twenty-five percent or more of
the total equity of a bank or any entity that is subject to the
BHCA and to regulation by the Federal Reserve. Neither the Company
nor any of its Subsidiaries or affiliates exercises a controlling
influence over the management or policies of a bank or any entity
that is subject to the BHCA and to regulation by the Federal
Reserve.

(pp)
Notice of Disqualification
Events. The Company will notify the Subscriber in writing,
prior to the Closing Date of (i) any Disqualification Event
relating to any Issuer Covered Person and (ii) any event that
would, with the passage of time, become a Disqualification Event
relating to any Issuer Covered Person.

(qq)
Survival. The foregoing
representations and warranties shall survive the
Closing.

 

 

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5.           OTHER
AGREEMENTS OF THE PARTIES

(a)
Furnishing
of Information. As long as any
Subscriber owns Securities, the Company covenants
to timely file (or obtain extensions
in respect thereof and file within the applicable grace period) all
reports required to be filed by the Company after the date hereof
pursuant to the Exchange Act. As long as any Subscriber owns
Securities, if the Company is not required to file reports pursuant
to the Exchange Act, it will prepare and furnish to the Subscribers and make
publicly available in accordance with Rule 144(c) under the
Securities Act such information as is required for the Subscribers
to sell the Securities under Rule 144. The Company further
covenants that it will take such
further action as any holder of Securities may reasonably request,
at the sole cost and expense of the Company including transfer
agent and legal opinion fees and expenses, all to the extent
required from time to time to enable such person to sell such
Securities without registration under the Securities Act within the
limitation of the exemptions proved by Rule 144 under the
Securities Act.

(b)
Shareholder Rights
Plan. No claim will be made or
enforced by the Company or, to the knowledge of the Company, any
other person that any Subscriber is an “Acquiring
Person” under any shareholder rights plan or similar plan or
arrangement in effect or hereafter adopted by the Company, or that
any Subscriber could be deemed to trigger the provisions of any
such plan or arrangement, by virtue of receiving Securities under
the Transaction Documents or under any other agreement between the
Company and the Subscribers.

(c)
Securities
Laws Disclosure; Publicity. The Company shall by 8:30 a.m. (New York
City time) (a) on the first Business Day after this Agreement has
been executed, issue a press release disclosing the material terms
of the transactions contemplated hereby and (b) within four (4)
Business Days after this Agreement has been executed, file a
Current Report on Form 8-K with the SEC (the “8-K Filing”). From and
after the issuance of such press release and the filing of the 8-K
Filing, the Company shall have publicly disclosed all material,
non-public information delivered to any of the Subscribers by the
Company or any of its Subsidiaries, or any of their respective
officers, directors, employees or agents. The Company and each Subscriber shall consult with
each other in issuing any press releases with respect to the
transactions contemplated hereby, and no Subscriber shall issue any
such press release or otherwise make any such public statement
without the prior consent of the Company, which consent shall not
unreasonably be withheld. Notwithstanding the foregoing, the
Company shall not publicly disclose the name of any Subscriber, or
include the name of any Subscriber in any filing with the SEC or
any regulatory agency, without the prior written consent of such
Subscriber, except to the extent such disclosure is required by
law in which case the Company shall provide the Subscribers
with prior notice of such disclosure or if such disclosure is
pursuant to the Registration Rights set forth in Section 7 herein
and the Registration Rights Agreement.
The Company understands that any such disclosure shall cause
irreparable harm and each Subscriber shall be entitled to
injunctive relief and liquidated damages in connection
therewith.

(d)
Integration.
The Company shall not, and shall use its best efforts to ensure
that no affiliate of the Company shall, after the date hereof,
sell, offer for sale or solicit offers to buy or otherwise
negotiate in respect of any security that would be integrated with
the offer or sale of the Shares in a manner that would require the
registration under the Securities Act of the sale of the Shares to
the Subscribers.

(e)
Reservation of
Securities.

(i) The
Company shall maintain a reserve from its duly authorized shares of
Common Stock for issuance pursuant to the Transaction Documents in
such amount as may then be required to fulfill its obligations in
full under the Transaction Documents, but not less than 100% of the
maximum number of shares of Common Stock issuable pursuant to the
Transaction Documents (the “Required
Minimum”).

 

 

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(ii)
If, on any date, the number of authorized but unissued (and
otherwise unreserved) shares of Common Stock is less than the
Required Minimum on such date, then the Board of Directors shall
approve the amendment of the Company’s Charter to increase
the number of authorized but unissued shares of Common Stock to at
least the Required Minimum and submit such amendment to the
Company’s stockholders for approval, as soon as possible and
in any event not later than the 90th day after such
date.

(iii)
The Company shall, if applicable: (i) in the time and manner
required by The NASDAQ Capital Market or such other principal
market on which the Company’s Common Stock is then primarily
traded (the “Principal Market”),
prepare and file with such Principal Market an additional shares
listing application covering a number of shares of Common Stock at
least equal to the Required Minimum on the date of such
application, (ii) take all steps necessary to cause such shares of
Common Stock to be approved for listing or quotation on such
Principal Market as soon as possible thereafter, (iii) provide to
the Subscribers evidence of such listing or quotation and (iv)
maintain the listing or quotation of such Common Stock on any date
at least equal to the Required Minimum on such date on such
Principal Market or another Principal Market. The Company will then take all commercially
reasonable action necessary to continue the listing or quotation
and trading of its Common Stock on a Principal Market for as long
as any Subscriber holds Securities, and will comply in all material
respects with the Company’s reporting, filing and other
obligations under the bylaws or rules of the Principal Market at
least until five years after the Closing Date. In the event
the aforedescribed listing is not continuously maintained for five
years after the Closing Date (a “Listing Default”), then
in addition to any other rights the Subscribers may have hereunder
or under applicable law, on the first day of a Listing Default and
on each monthly anniversary of each such Listing Default date (if
the applicable Listing Default shall not have been cured by such
date) until the applicable Listing Default is cured, the Company
shall pay to each Subscriber an amount in cash, as partial
liquidated damages and not as a penalty, equal to 1% of (x)
Aggregate Purchase Price of Shares or Conversion Shares calculated
on an “as converted” basis, as the case may be, held by
such Subscriber on the date of a Listing Default and (y) the
aggregate purchase price of Shares held by such Subscriber on the
day of a Listing Default and on every thirtieth day (pro-rated for
periods less than thirty days) thereafter with respect to Shares
(or “as converted” Conversion Shares) held as of each
such date until the date such Listing Default is cured or
Subscriber no longer holds any Shares, Preferred Shares or
Conversion Shares. If the Company fails to pay any liquidated
damages pursuant to this Section in a timely manner, the Company
will pay interest thereon at a rate of 1.5% per month (pro-rated
for partial months) to the Subscriber, up to a maximum of sixteen
(16%) percent for such interest and liquidated damages amounts,
collectively.

(f)
Use of
Proceeds. The Company
anticipates using the gross proceeds from the Offering as set forth
on Exhibit
C.

(g)
Non-Public Information. Except
with respect to the material terms and conditions of the
transactions contemplated by the Transaction Documents, the Company
covenants and agrees that neither it, nor any other Person acting
on its behalf will provide any Subscriber or its agents or counsel
with any information that the Company believes constitutes or could
constitute material non-public information, and each Subscriber
agrees, and shall direct its agents and counsel not to, request any
material non-public information from the Company or any Person
acting on its behalf, unless prior thereto such Subscriber shall
have executed a written agreement with the Company regarding the
willingness to accept receipt of such material non-public
information and acknowledges the confidentiality and use of such
information and the Company’s covenant to file a further SEC
filing or report and the period in which such information shall
remain confidential or be required to not be disclosed. The Company
understands and confirms that each Subscriber shall be relying on
the foregoing covenant in effecting transactions in securities of
the Company. In addition, effective upon the filing of the 8-K
Filing, the Company acknowledges and agrees that any and all
confidentiality or similar obligations under any agreement, whether
written or oral, between the Company and any of its Subsidiaries or
any of their respective officers, directors, affiliates, employees
or agents, on the one hand, and the Subscriber or any of its
affiliates on the other hand, shall terminate.

(h)
Capital Changes.
Until the one year anniversary of the Closing Date, the Company
shall not undertake a reverse or forward stock split or
reclassification of the Common Stock without 10 days prior written
notice to the Subscribers, unless such reverse split is made in
conjunction with the listing of the Common Stock on a national
securities exchange or maintaining compliance with such
listing.

 

 

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(i)
DTC
Program. From the Closing Date
until such time as no Subscriber holds any of the Securities (such
date, the “Release
Date”), the Company shall
use its best efforts to employ as the transfer agent for the Common
Shares and the Conversion Shares a participant in the Depository
Trust Company Automated Securities Transfer Program (FAST) and
cause the Common Stock to be transferable pursuant to such
program.

 (j)
Form D and Blue
Sky. The Company
shall file a Form D with respect to the Securities as required
under Regulation D and to provide a copy thereof to each Subscriber
promptly after such filing. The availability of the filed Form D on
EDGAR shall satisfy the foregoing delivery requirement. The Company
shall, on or before the Closing Date, take such action as the
Company shall reasonably determine is necessary in order to obtain
an exemption for, or to, qualify the Securities for sale to the
Subscribers at the Closing pursuant to this Agreement under
applicable securities or “Blue Sky” laws of the states
of the United States (or to obtain an exemption from such
qualification), and shall provide evidence of any such action so
taken to the Subscribers on or prior to the Closing Date. Without
limiting any other obligation of the Company under this Agreement,
the Company shall timely make all filings and reports relating to
the offer and sale of the Securities required under all applicable
securities laws (including, without limitation, all applicable
federal securities laws and all applicable “Blue Sky”
laws), and the Company shall comply with all applicable federal,
foreign, state and local laws, statutes, rules, regulations and the
like relating to the offering and sale of the Securities to the
Subscribers.

 (k)
Restriction on Redemption and Cash
Dividends. From the date hereof through the Release Date,
the Company shall not, directly or indirectly, redeem, or declare
or pay any cash dividend or distribution on, any securities of the
Company without the prior express written consent of the
Subscribers holding a majority of the then outstanding
Shares.

(l)
Corporate
Existence. From the date hereof through the Release Date,
the Company shall not be party to any Fundamental Transaction (as
defined in the Series F Certificate of Designation) unless the
Company is in compliance with the applicable provisions governing
Fundamental Transactions set forth in the Series F Certificate of
Designation.

(m)
Conversion
Procedures. Each of the form of Notice of Conversion
included in the Series F Certificate of Designation set forth the
totality of the procedures required of the Subscribers in order to
convert the Preferred Shares. No legal opinion, other information
or instructions shall be required of the Subscribers to convert
their Preferred Shares (other than customary 144 representation
letters if such Preferred Shares are to be sold in reliance upon
the exemption provided by to Rule 144). The Company shall honor
conversions of the Preferred Shares and shall deliver the
Conversion Shares in accordance with the terms, conditions and time
periods set forth in the Series F Certificate of
Designation.

(n)
Closing Documents.
On or prior to fourteen (14) calendar days after the Closing Date,
the Company agrees to deliver, or cause to be delivered, to each
Subscriber executed copies of the Transaction Documents and other
document required to be delivered to any party pursuant to this
Agreement.

(o)
Fees. The Company
shall be responsible for the payment of any placement agent’s
fees, financial advisory fees, transfer agent fees, DTC fees or
broker’s commissions (other than for Persons engaged by any
Subscriber) relating to or arising out of the transactions
contemplated hereby. The Company (subject to the foregoing
qualification) shall pay, and hold each Subscriber harmless
against, any liability, loss or expense (including, without
limitation, reasonable attorneys’ fees and out-of-pocket
expenses) arising in connection with any claim relating to any such
payment. For the avoidance of doubt, the Company will not be
responsible for the costs associated with any legal opinions
required to be rendered to the Company’s transfer agent in
connection with the lifting of any legends on the
Securities.

 

 

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6.           CONDITIONS
TO ACCEPTANCE OF SUBSCRIPTION

(a) The
Closing of the sale of the Shares is conditioned upon satisfaction
of the following conditions precedent on or before the Closing
Date:

(i)
As of the Closing, no legal action, suit or proceeding shall be
pending against the Company that seeks to restrain or prohibit the
transactions contemplated by this Agreement.

(ii)
The representations and warranties of the Company and the
Subscribers contained in this Agreement shall have been true and
correct in all material respects on the date of this Agreement
(except whether such representations are qualified by material or
material adverse effect, which shall be true and correct in all
respects) and shall be true and correct as of the Closing as if
made on the Closing Date and the Company shall have performed,
satisfied and complied in all respects with the covenants,
agreements and conditions required to be performed, satisfied or
complied with by the Company in connection with the consummation of
the transactions contemplated by the Transaction Documents at or
prior to the Closing Date.

(iii)
The Company shall deliver to the Subscribers a file stamped copy of
the filed Series F Certificate of Designation, filed with the
Secretary of State of the State of Delaware, which shall not have
been amended, waived, modified or revoked by the
Company.

(iv)
The Company shall have submitted to NASDAQ, a “Listing of
Additional Shares” application (the “LAS”) for the listing of
the Shares and Conversion Shares thereon and NASDAQ shall have
completed its review of the LAS without comment.

7.            

REGISTRATION RIGHTS.
    The Company shall file a
“resale” registration statement with the SEC covering
100% of the Shares and the Conversion Shares issued or issuable to
the Subscriber, so that such shares of Common Stock will be
registered under the Securities Act. The description of
registration rights is qualified in its entirety by reference to
Registration Rights Agreement annexed hereto as Exhibit D (the
“Registration Rights
Agreement”).

8. 

MISCELLANEOUS
PROVISIONS

(a)
All parties hereto have been represented by counsel, and no
inference shall be drawn in favor of or against any party by virtue
of the fact that such party’s counsel was or was not the
principal draftsman of this Agreement.

(b)
Each of the parties hereto shall be responsible to pay the costs
and expenses of its own legal counsel in connection with the
preparation and review of this Agreement and related
documentation.

(c)
Neither this Agreement, nor any provisions hereof, shall be waived,
modified, discharged or terminated except by an instrument in
writing signed by the party against whom any waiver, modification,
discharge or termination is sought.

(d)
The representations, warranties and agreement of each Subscriber
and the Company made in this Agreement shall survive the execution
and delivery of this Agreement and the delivery of the
Securities.

(e)
Any party may send any notice, request, demand, claim or other
communication hereunder to the Subscriber at the address set forth
on the signature page of this Agreement or to the Company at its
primary office (including personal delivery, expedited courier,
messenger service, fax, ordinary mail or electronic mail), but no
such notice, request, demand, claim or other communication will be
deemed to have been duly given unless and until it actually is
received by the intended recipient. Any party may change the
address to which notices, requests, demands, claims and other
communications hereunder are to be delivered by giving the other
parties written notice in the manner herein set forth.

 

 

-22-

 

 

(f)
Except as otherwise provided herein, this Agreement shall be
binding upon, and inure to the benefit of, the parties to this
Agreement and their heirs, executors, administrators, successors,
legal representatives and assigns. If any Subscriber is more than
one person or entity, the obligation of any Subscriber shall be
joint and several and the agreements, representations, warranties
and acknowledgments contained herein shall be deemed to be made by,
and be binding upon, each such person or entity and its heirs,
executors, administrators, successors, legal representatives and
assigns. This Agreement sets forth the entire agreement and
understanding between the parties as to the subject matter hereof
and merges and supersedes all prior discussions, agreements and
understandings of any and every nature among them.

(g)
This Agreement is not transferable or assignable by the
Company.

(h)
The Company hereby represents and warrants as of the date hereof
and as of any Closing Date that none of the terms offered to any
Person with respect to any offer, sale or subscription of
Securities (each a "Subscription Document"), is or
will be more favorable to such Person than those of the Subscriber
and this Agreement shall be, without any further action by the
Subscriber or the Company, deemed amended and modified in an
economically and legally equivalent manner such that the Subscriber
shall receive the benefit of the more favorable terms contained in
such Subscription Document. Notwithstanding the foregoing, the
Company agrees, at its expense, to take such other actions (such as
entering into amendments to the Transaction Documents) as the
Subscriber may reasonably request to further effectuate the
foregoing.

(i)
The obligations of each Subscriber under any Transaction Document
are several and not joint with the obligations of any other
Subscriber, and no Subscriber shall be responsible in any way for
the performance or non-performance of the obligations of any other
Subscriber under any Transaction Document. Nothing contained herein
or in any other Transaction Document, and no action taken by any
Subscriber pursuant hereto or thereto, shall be deemed to
constitute the Subscribers as a partnership, an association, a
joint venture or any other kind of entity, or create a presumption
that the Subscribers are in any way acting in concert or as a group
with respect to such obligations or the transactions contemplated
by the Transaction Documents. Each Subscriber shall be entitled to
independently protect and enforce its rights, including, without
limitation, the rights arising out of this Agreement or out of the
other Transaction Documents, and it shall not be necessary for any
other Subscriber to be joined as an additional party in any
proceeding for such purpose. Each Subscriber has been represented
by its own separate legal counsel in its review and negotiation of
the Transaction Documents. The Company has elected to provide all
Subscribers with the same terms and Transaction Documents for the
convenience of the Company and not because it was required or
requested to do so by any of the Subscribers. It is expressly
understood and agreed that each provision contained in this
Agreement and in each other Transaction Document is between the
Company and a Subscriber, solely, and not between the Company and
the Subscribers collectively and not between and among the
Subscribers. The Company acknowledges that any actions of
Subscribers now, and in the future, in which (A) any review or
approval is sought by the Company, including, without limitation,
review, approval or acceptance of any reportable event required to
be reported in any SEC filing or report by the Company; or (B) any
amendment, waiver, right of first refusal, participation right,
acquisition or financing, including any acquisition or financing is
proposed, introduced, offered or arranged by any one or more
Subscribers or their affiliates or sought by the Company, shall not
be claimed by the Company or any person seeking to assert such a
claim on behalf of the Company, to constitute the forming of any
“Group” as such term is defined under Section 13(d) or
Section 16 of the Exchange Act, nor shall any activity permit the
Company or any third party holder of securities of the Company to
assert any claim that any beneficial ownership limitations or
conversion limitations of the Series F Certificate of Designation
have been exceeded and such Subscriber, alone or in conjunction
with others, constitutes a “Group” for purposes of the
Exchange Act as a result thereof.

(j)
Except as otherwise provided herein, this Agreement shall not be
changed, modified or amended and no right hereunder shall be
waived, except in writing signed by both (a) the Company and (b)
Subscribers holding at least 60% of the Shares sold in the Offering
outstanding on the date of determination. The Company shall be
prohibited from offering any additional consideration to any
Subscriber in this Offering (or such original Subscriber’s
transferee) for the purposes of inducing such person to change,
modify, waive or amend any term of this Agreement or any other
Transaction Document without making the same offer on a pro-rata
basis to all other Subscribers (and those transferees) in this
Offering allocable to the securities acquired by such
transferee(s).

 

 

-23-

 

 

(k)
This Agreement shall be governed by and construed in accordance
with the laws of the State of New York, without giving effect to
conflicts of law principles.

(l)
The Company and each Subscriber hereby agree that any dispute that
may arise between them arising out of or in connection with this
Agreement shall be adjudicated before a court located in the City
of New York, Borough of Manhattan, and they hereby submit to the
exclusive jurisdiction of the federal and state courts of the State
of New York located in the City of New York, Borough of Manhattan
with respect to any action or legal proceeding commenced by any
party, and irrevocably waive any objection they now or hereafter
may have respecting the venue of any such action or proceeding
brought in such a court or respecting the fact that such court is
an inconvenient forum, relating to or arising out of this Agreement
or any acts or omissions relating to the sale of the securities
hereunder, and consent to the service of process in any such action
or legal proceeding by means of registered or certified mail,
return receipt requested, postage prepaid, in care of the address
set forth herein or such other address as either party shall
furnish in writing to the other.

(m)
WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR
PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY
OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE
GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY,
UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY
JURY.

(n)
This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

(o)
Legal Representation. Each
party hereto acknowledges that it has been represented by
independent legal counsel in the preparation of the Agreement and
each party waives any conflicts of interest and other allegations
that it has not been represented by its own counsel

[Signature Pages
Follow]

 

-24-

 

ALL SUBSCRIBERS MUST COMPLETE THIS PAGE

 

IN
WITNESS WHEREOF, the Subscriber has executed this Agreement on the
____ day of _____, 2016.

 

	
 

	

x $3.00
for per share of Common Stock =

	
 

	

Shares
subscribed for

	
 

	

      Aggregate
Purchase Price

 

Election to
Purchase Preferred Shares: ________ (check here)

Manner
in which Title is to be held (Please Check One):

	

1.

	

___

	

Individual

	

7.

	

___

	

Trust/Estate/Pension
or Profit sharing Plan

Date
Opened:______________

	

2.

	

___

	

Joint
Tenants with Right of Survivorship

	

8.

	

___

	

As a
Custodian for

________________________________

Under
the Uniform Gift to Minors Act of the State of

________________________________

	

3.

	

___

	

Community
Property

	

9.

	

___

	

Married
with Separate Property

	

4.

	

___

	

Tenants
in Common

	

10.

	

___

	

Keogh

	

5.

	

___

	

Corporation/Partnership/
Limited Liability Company

	

11.

	

___

	

Tenants
by the Entirety

 

	

6.

	

___

	

IRA

	
 

	
 

	
 

 

ALTERNATIVE
DISTRIBUTION INFORMATION

To
direct distribution to a party other than the registered owner,
complete the information below. YOU MUST COMPLETE THIS SECTION IF
THIS IS AN IRA INVESTMENT.

Name of
Firm (Bank, Brokerage, Custodian):

Account
Name:

Account
Number:

Representative
Name:

Representative
Phone Number:

Address:

City,
State, Zip:

 

 

-25-

 

 

IF MORE
THAN ONE SUBSCRIBER, EACH SUBSCRIBER MUST SIGN.

INDIVIDUAL
SUBSCRIBERS MUST COMPLETE THIS PAGE.

SUBSCRIBERS WHICH
ARE ENTITIES MUST COMPLETE THE FOLLOWING PAGE.

EXECUTION BY NATURAL PERSONS

	

_____________________________________________________________________________

Exact
Name in Which Title is to be Held

 

	

_________________________________

Name
(Please Print)

 

	
 

	

_________________________________

Name of
Additional Purchaser

	

_________________________________

Residence:
Number and Street

 

	
 

	

_________________________________

Address
of Additional Purchaser

	

_________________________________

City,
State and Zip Code

 

	
 

	

_________________________________

City,
State and Zip Code

	

_________________________________

Social
Security Number

 

	
 

	

_________________________________

Social
Security Number

	

_________________________________

Telephone
Number

 

	
 

	

_________________________________

Telephone
Number

	

_________________________________

Fax
Number (if available)

 

	
 

	

________________________________

Fax
Number (if available)

	

_________________________________

E-Mail
(if available)

 

	
 

	

________________________________

E-Mail
(if available)

	

__________________________________

(Signature)

 

 

	
 

	

________________________________

(Signature
of Additional Purchaser)

	

ACCEPTED
this ___ day of _________ 2016, on behalf of the
Company.

	
 

	

 

By: _________________________________

Name:
Title:

	
 

	
 

 

 

 

 

[SIGNATURE PAGE FOR SUBSCRIPTION AGREEMENT]

 

 

-26-

 

 

EXECUTION BY SUBSCRIBER WHICH IS AN ENTITY

(Corporation,
Partnership, LLC, Trust, Etc.)

 

	

_____________________________________________________________________________

Name of
Entity (Please Print)

	

Date of
Incorporation or Organization:

 

	

State
of Principal Office:

 

	

Federal
Taxpayer Identification Number:

 

____________________________________________

Office
Address

 

____________________________________________

City,
State and Zip Code

 

____________________________________________

Telephone
Number

 

____________________________________________

Fax
Number (if available)

 

____________________________________________

E-Mail
(if available)

 

	
 

	

By:
_________________________________

      
Name:

      
Title:

	

[seal]

 

Attest:
_________________________________

(If
Entity is a Corporation)

 

	

 

_________________________________

 

_________________________________

Address

	
 

	
 

	

ACCEPTED this ____
day of __________ 2016 , on behalf of the Company.

	
 

	

 

 

By:
_________________________________Name: Title:

 

[SIGNATURE PAGE FOR SUBSCRIPTION AGREEMENT]

 

 

-27-

 

 

INVESTOR
QUESTIONNAIRE

Instructions: Check all boxes below which correctly describe
you.

☐ 

You are
(i) a bank, as
defined in Section 3(a)(2) of the Securities Act of 1933, as
amended (the “Securities Act”),
(ii) a savings and
loan association or other institution, as defined in Section
3(a)(5)(A) of the Securities Act, whether acting in an individual
or fiduciary capacity, (iii) a broker or dealer
registered pursuant to Section 15 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”),
(iv) an insurance
company as defined in Section 2(13) of the Securities Act,
(v) an investment
company registered under the Investment Company Act of 1940, as
amended (the “Investment Company Act”),
(vi) a business
development company as defined in Section 2(a)(48) of the
Investment Company Act, (vii) a Small Business
Investment Company licensed by the U.S. Small Business
Administration under Section 301 (c) or (d) of the Small Business
Investment Act of 1958, as amended, (viii) a plan established and
maintained by a state, its political subdivisions, or an agency or
instrumentality of a state or its political subdivisions, for the
benefit of its employees and you have total assets in excess of
$5,000,000, or (ix)
an employee benefit plan within the meaning of the Employee
Retirement Income Security Act of 1974, as amended
(“ERISA”) and (1) the
decision that you shall subscribe for and purchase Shares, is made
by a plan fiduciary, as defined in Section 3(21) of ERISA, which is
either a bank, savings and loan association, insurance company, or
registered investment adviser, or (2) you have total assets in
excess of $5,000,000 and the decision that you shall subscribe for
and purchase the Shares is made solely by persons or entities that
are accredited investors, as defined in Rule 501 of Regulation D
promulgated under the Securities Act (“Regulation D”) or (3) you
are a self-directed plan and the decision that you shall subscribe
for and purchase the Securities is made solely by persons or
entities that are accredited investors.

☐ 

You are a private
business development company as defined in Section 202(a)(22) of
the Investment Advisers Act of 1940, as amended.

☐ 

You are an
organization described in Section 501(c)(3) of the Internal Revenue
Code of 1986, as amended (the “Code”), a corporation,
Massachusetts or similar business trust or a partnership, in each
case not formed for the specific purpose of making an investment in
the Securities and its underlying securities in excess of
$5,000,000.

☐ 

You are a director
or executive officer of the Company.

☐ 

You are a natural
person whose individual net worth, or joint net worth with your
spouse, exceeds $1,000,000 (excluding residence) at the time of
your subscription for and purchase of the Securities.

☐ 

You are a natural
person who had an individual income in excess of $200,000 in each
of the two most recent years or joint income with your spouse in
excess of $300,000 in each of the two most recent years, and who
has a reasonable expectation of reaching the same income level in
the current year.

☐ 

You are a trust,
with total assets in excess of $5,000,000, not formed for the
specific purpose of acquiring the Securities and whose subscription
for and purchase of the Securities is directed by a sophisticated
person as described in Rule 506(b)(2)(ii) of Regulation
D.

☐ 

You are an entity
in which all of the equity owners are persons or entities described
in one of the preceding paragraphs.

 

 

-28-

 

Check all boxes below which correctly describe you.

With
respect to this investment in the Securities, your:

Investment
Objectives:                               
  Aggressive
Growth              
  Speculation

Risk
Tolerance:                                            ☐ Low
Risk                             
☐ Moderate
Risk                          
☐High Risk

Are you associated
with a FINRA Member
Firm?                  
☐ Yes        
☐ No

Your initials (purchaser and co-purchaser, if applicable) are
required for each item below:

____  
____  

I/We understand
that this investment is not guaranteed.

____  
____  

I/We are aware that
this investment is not liquid.

____  
____  

I/We are
sophisticated in financial and business affairs and are able to
evaluate the risks and merits of an investment in this
offering.

____  
____  

I/We confirm that
this investment is considered “high risk.” (This type
of investment is considered high risk due to the inherent risks
including lack of liquidity and lack of diversification. 
Success or

failure
of private placements such as this is dependent on the corporate
issuer of these securities and is outside the control of the
investors. While potential loss is limited to the amount invested,
such loss is possible.)

The
Subscriber hereby represents and warrants that all of its answers
to this Investor Questionnaire are true as of the date of its
execution of the Subscription Agreement pursuant to which it
purchased the Securities.

	

___________________________________

Name of
Purchaser [please print]

 

___________________________________

Signature
of Purchaser (Entities please

provide
signature of Purchaser’s duly

authorized
signatory.)

 

___________________________________

Name of
Signatory (Entities only)

 

___________________________________

Title
of Signatory (Entities only)

	

___________________________________

Name of
Co-Purchaser [please print]

 

___________________________________

Signature
of Co-Purchaser

 

[SIGNATURE PAGE FOR INVESTOR QUESTIONNAIRE]

 

-29-

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