Document:

EXHIBIT 4.6

 

 

 

Dated as of [_____]

INDENTURE

SUBORDINATED DEBT SECURITIES

between

MACQUARIE INFRASTRUCTURE CORPORATION

as Company

and

WELLS FARGO BANK, NATIONAL ASSOCIATION

as Trustee

 

 

  

     

     

    

 

CROSS-REFERENCE SHEET*

 

	Section of Trust Indenture Act of 1939, as amended	 	Section of Indenture
	 	 	 
	310(a)(1)	 	6.09
	 	 	 
	310(a)(2)	 	6.09
	 	 	 
	310(a)(3)	 	Not Applicable
	 	 	 
	310(a)(4)	 	Not Applicable
	 	 	 
	310(b)	 	6.08, 6.10
	 	 	 
	311(a)	 	6.13
	 	 	 
	311(b)	 	6.13
	 	 	 
	312(a)	 	7.01, 7.02
	 	 	 
	312(b)	 	7.02
	 	 	 
	312(c)	 	7.02
	 	 	 
	313(a)	 	7.03
	 	 	 
	313(b)	 	7.03
	 	 	 
	313(c)	 	7.03
	 	 	 
	313(d)	 	7.03
	 	 	 
	314(a)	 	7.04
	 	 	 
	314(a)(4)	 	10.04
	 	 	 
	314(b)	 	Not Applicable
	 	 	 
	314(c)(1)	 	1.02
	 	 	 
	314(c)(2)	 	1.02
	 	 	 
	314(c)(3)	 	Not Applicable
	 	 	 
	314(d)	 	Not Applicable
	 	 	 
	314(e)	 	1.02
	 	 	 
	315(a)	 	6.01

 

     

     

    

 

	Section
    of Trust Indenture Act of 1939, as amended	 	Section
    of Indenture
	 	 	 
	315(b)	 	6.02
	 	 	 
	315(c)	 	6.01
	 	 	 
	315(d)	 	6.01
	 	 	 
	315(e)	 	5.14
	 	 	 
	316(a)	 	1.06
	 	 	 
	316(a)(1)(A)	 	5.02, 5.12
	 	 	 
	316(a)(1)(B)	 	5.13
	 	 	 
	316(a)(2)	 	Not Applicable
	 	 	 
	316(b)	 	5.08
	 	 	 
	316(c)	 	1.04
	 	 	 
	317(a)(1)	 	5.03
	 	 	 
	317(a)(2)	 	5.04
	 	 	 
	317(b)	 	10.03
	 	 	 
	318(a)	 	1.07

 

		*	This cross-reference sheet does not constitute part of the Indenture and shall not have any bearing
on the interpretation of any of its terms or provisions.

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Article I DEFINITIONS	1
	Section 1.01.	Definitions	1
	Section 1.02.	Compliance Certificates and Opinions	7
	Section 1.03.	Form of Documents Delivered to Trustee	8
	Section 1.04.	Acts of Holders; Record Dates	8
	Section 1.05.	Notices, Etc., to Trustee and Company	10
	Section 1.06.	Notice to Holders; Waiver	11
	Section 1.07.	Conflict with Trust Indenture Act	11
	Section 1.08.	Effect of Headings and Table of Contents	11
	Section 1.09.	Successors and Assigns	11
	Section 1.10.	Separability Clause	11
	Section 1.11.	Benefits of Indenture	11
	Section 1.12.	Governing Law	11
	Section 1.13.	Legal Holidays	12
	Section 1.14.	Language of Notices, Etc	12
	Section 1.15.	Submission to Jurisdiction	12
	Section 1.16.	U.S.A. Patriot Act	12
	Section 1.17.	Force Majeure	12
	Section 1.18.	Waiver of Jury Trial	13
	 	 	 
	Article II SECURITY FORMS	13
	Section 2.01.	Forms Generally	13
	Section 2.02.	Form of Legend for Global Securities	13
	Section 2.03.	Form of Trustee’s Certificate of Authentication	14
	Section 2.04.	Securities in Global Form	14
	 	 	 
	Article III THE SECURITIES	15
	Section 3.01.	Amount Unlimited; Issuable in Series	15
	Section 3.02.	Denominations	18
	Section 3.03.	Execution, Authentication, Delivery and Dating	18
	Section 3.04.	Temporary Securities	20
	Section 3.05.	Registration, Registration of Transfer and Exchange	20
	Section 3.06.	Mutilated, Destroyed, Lost and Stolen Securities	21
	Section 3.07.	Payment of Interest; Interest Rights Preserved	22
	Section 3.08.	Persons Deemed Owners	23
	Section 3.09.	Cancellation	23
	Section 3.10.	Computation of Interest	23
	Section 3.11.	CUSIP Numbers	24
	 	 	 
	Article IV SATISFACTION AND DISCHARGE	24
	Section 4.01.	Satisfaction and Discharge of Indenture	24
	Section 4.02.	Application of Trust Money	25

 

     

     

    

 

	 	 	Page
	 	 	 
	Article V REMEDIES	25
	Section 5.01.	Events of Default	25
	Section 5.02.	Acceleration of Maturity; Rescission and Annulment	26
	Section 5.03.	Collection of Indebtedness and Suits for Enforcement by Trustee.	27
	Section 5.04.	Trustee May File Proofs of Claim	28
	Section 5.05.	Trustee May Enforce Claims Without Possession of Securities	29
	Section 5.06.	Application of Money Collected	29
	Section 5.07.	Limitation on Suits	29
	Section 5.08.	Unconditional Right of Holders to Receive Principal, Premium and Interest	30
	Section 5.09.	Restoration of Rights and Remedies	30
	Section 5.10.	Rights and Remedies Cumulative	30
	Section 5.11.	Delay or Omission Not Waiver	30
	Section 5.12.	Control by Holders	30
	Section 5.13.	Waiver of Past Defaults	31
	Section 5.14.	Undertaking for Costs	31
	Section 5.15.	Waiver of Usury, Stay or Extension Laws	31
	 	 	 
	Article VI THE TRUSTEE	31
	Section 6.01.	Certain Duties and Responsibilities	31
	Section 6.02.	Notice of Defaults	32
	Section 6.03.	Certain Rights of Trustee	32
	Section 6.04.	Not Responsible for Recitals or Issuance of Securities	33
	Section 6.05.	May Hold Securities	34
	Section 6.06.	Money Held in Trust	34
	Section 6.07.	Compensation and Reimbursement	34
	Section 6.08.	Conflicting Interests	34
	Section 6.09.	Corporate Trustee Required; Eligibility	34
	Section 6.10.	Resignation and Removal; Appointment of Successor	35
	Section 6.11.	Acceptance of Appointment by Successor	36
	Section 6.12.	Merger, Conversion, Consolidation or Succession to Business	37
	Section 6.13.	Preferential Collection of Claims Against Company	37
	Section 6.14.	Appointment of Authenticating Agent	38
	 	 	 
	Article VII HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY	39
	Section 7.01.	Company to Furnish Trustee Names and Addresses of Holders	39
	Section 7.02.	Preservation of Information; Communications to Holders	39
	Section 7.03.	Reports by Trustee	40
	Section 7.04.	Reports by Company	40

 

     

     

    

 

	 	 	Page
	 	 	 
	Article VIII MERGER, CONSOLIDATION, SALE, ASSIGNMENT, TRANSFER OR CONVEYANCE	40
	Section 8.01.	Company May Merge, Etc., Only on Certain Terms	40
	Section 8.02.	Successor Substituted	41
	 	 	 
	Article IX SUPPLEMENTAL INDENTURES	41
	Section 9.01.	Supplemental Indentures Without Consent of Holders	41
	Section 9.02.	Supplemental Indentures With Consent of Holders	42
	Section 9.03.	Execution of Supplemental Indentures	43
	Section 9.04.	Effect of Supplemental Indentures	44
	Section 9.05.	Conformity with Trust Indenture Act	44
	Section 9.06.	Reference in Securities to Supplemental Indentures	44
	 	 	 
	Article X COVENANTS	44
	Section 10.01.	Payment of Principal, Premium and Interest	44
	Section 10.02.	Maintenance of Office or Agency	45
	Section 10.03.	Money for Securities Payments to Be Held in Trust	45
	Section 10.04.	Statement by Officers as to Default	46
	Section 10.05.	Existence	46
	Section 10.06.	Maintenance of Properties	46
	Section 10.07.	Payment of Taxes and Other Claims	46
	Section 10.08.	Waiver of Certain Covenants	46
	Section 10.09.	Additional Amounts	47
	 	 	 
	Article XI REDEMPTION OF SECURITIES	47
	Section 11.01.	Applicability of Article	47
	Section 11.02.	Election to Redeem; Notice to Trustee	47
	Section 11.03.	Selection by Trustee of Securities to Be Redeemed	47
	Section 11.04.	Notice of Redemption	48
	Section 11.05.	Deposit of Redemption Price	49
	Section 11.06.	Securities Payable on Redemption Date	49
	Section 11.07.	Securities Redeemed in Part	49
	 	 	 
	Article XII SINKING FUNDS	50
	Section 12.01.	Applicability of Article	50
	Section 12.02.	Satisfaction of Sinking Fund Payments with Securities	50
	Section 12.03.	Redemption of Securities for Sinking Fund	50
	 	 	 
	Article XIII DEFEASANCE AND COVENANT DEFEASANCE	51
	Section 13.01.	Company’s Option to Effect Defeasance or Covenant Defeasance	51
	Section 13.02.	Defeasance and Discharge	51
	Section 13.03.	Covenant Defeasance	51
	Section 13.04.	Conditions to Defeasance or Covenant Defeasance	51

 

     

     

    

 

	 	 	Page
	 	 	 
	Section 13.05.	Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions	53
	Section 13.06.	Reinstatement	54
	 	 	 
	Article XIV SUBORDINATION OF SECURITIES	54
	Section 14.01.	Securities Subordinate to Senior Debt	54
	Section 14.02.	Counterparts and Originals	54

 

     

     

    

 

INDENTURE, dated as of
_________, between Macquarie Infrastructure Corporation, a corporation duly organized and existing under the laws of the State
of Delaware (herein called the “Company”), having its principal office at 125 West 55th Street,
New York, NY 10019 and Wells Fargo Bank, National Association, a nationally chartered banking association, as Trustee (herein called
the “Trustee”).

 

RECITALS OF THE COMPANY

 

The Company has duly
authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured, subordinated
debentures, notes or other evidences of indebtedness (herein called the “Securities”), which may be convertible
into or exchangeable for any securities of any persons (including the Company), to be issued in one or more series as in this Indenture
provided.

 

All things necessary
to make this Indenture a valid and legally binding agreement of the Company, in accordance with its terms, have been done.

 

NOW, THEREFORE, THIS
INDENTURE WITNESSETH:

 

For and in consideration
of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and proportionate
benefit of all Holders of the Securities or of Series thereof, as follows:

 

Article
I

DEFINITIONS

 

Section 1.01.         Definitions.
For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires:

 

(1)         the
terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular;

 

(2)         all
other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings
assigned to them therein;

 

(3)         all
accounting terms not otherwise defined herein have the meanings assigned to them in accordance with United States generally accepted
accounting principles, the term “generally accepted accounting principles” with respect to any computation required
or permitted hereunder shall mean such accounting principles as are generally accepted as consistently applied by the Company at
the date of such computation;

 

(4)         unless
the context otherwise requires, any reference to an “Article”, a “Section” or an “Exhibit”
refers to an Article, a Section or an Exhibit, as the case may be, of or to this Indenture; and

 

    	 	1	 

     

    

 

(5)         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.

 

Certain terms, used principally
in Article VI and Article XIII, are defined in those Articles.

 

“Act”,
when used with respect to any Holder, has the meaning specified in Section 1.04.

 

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

 

“Authenticating
Agent” means any Person authorized by the Trustee pursuant to Section 6.14 to act on behalf of the Trustee
to authenticate Securities of one or more series.

 

“Authorized
Newspaper” means a newspaper, in the English language or in an official language of the country of publication, customarily
published on each Business Day, whether or not published on Saturdays, Sundays or holidays, and of general circulation in each
place in connection with which the term is used or in the financial community of each such place. Where successive publications
are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different newspapers
in the same city meeting the foregoing requirements and in each case on any Business Day.

 

“Board of
Directors” means either the board of directors of the Company or any duly authorized committee of that board of directors.

 

“Board Resolution”
means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the
Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee.

 

“Business
Day”, when used with respect to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday
that is not a day on which banking institutions in that Place of Payment are authorized or obligated by law or executive order
to close.

 

“Commission”
means the United States Securities and Exchange Commission, from time to time constituted, created under the Exchange Act, or,
if at any time after the execution of this instrument the United States Securities and Exchange 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.

 

    	 	2	 

     

    

 

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

 

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

 

“Corporate
Trust Office” means the office of the Trustee at which at any particular time its corporate trust business shall
be administered, which as of the date hereof is located at 150 East 42nd Street, 40th Floor, New York, New
York 10017, Attention: Corporate Trust Services.

 

“corporation”
means a corporation, association, company, limited liability company, joint-stock company or business trust.

 

“covenant
defeasance” has the meaning specified in Section 13.03.

 

“Defaulted
Interest” has the meaning specified in Section 3.07.

 

“defeasance”
has the meaning specified in Section 13.02.

 

“Depositary”
means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global Securities, a clearing
agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section
3.01, which shall initially be the Depositary Trust Company.

 

“Event of
Default” has the meaning specified in Section 5.01.

 

“Exchange
Act” means the United States Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended
from time to time.

 

“Expiration
Date” has the meaning specified in Section 1.04.

 

“Global Security”
means a Security that evidences all or part of the Securities of any series and bears the legend set forth in Section 2.02
(or such legend as may be specified as contemplated by Section 3.01 for such Securities).

 

“Government
Obligation” has the meaning specified in Section 13.04.

 

“Holder”
means the Person in whose name the Security is registered in the Security Register.

 

“Indenture”
means this instrument as originally executed and 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, including, for all purposes of this instrument and
any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this instrument
and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular
series of Securities established as contemplated by Section 3.01.

 

    	 	3	 

     

    

 

“interest”,
when used with respect to an Original Issue Discount Security which by its terms bears interest only after Maturity, means interest
payable after Maturity.

 

“Interest
Payment Date”, when used with respect to any Security, means the Stated Maturity of an installment of interest on
such Security.

 

“Investment
Company Act” means the United States Investment Company Act of 1940 and any statute successor thereto, in each case
as amended from time to time.

 

“Maturity”,
when used with respect to any Security, means 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” means a written notice of the kind specified in Section 5.01(4).

 

“Officers’
Certificate” means a certificate signed by the Chief Executive Officer, the President or a Vice President, and by
the Treasurer, an Assistant Treasurer, the Controller or an Assistant Controller, the Secretary or an Assistant Secretary, of the
Company, and delivered to the Trustee. One of the officers signing an Officers’ Certificate given pursuant to Section
10.04 shall be the principal executive, financial or accounting officer of the Company.

 

“Opinion
of Counsel” means a written opinion of counsel, which may be an employee of the Company.

 

“Original
Issue Discount Security” means any Security which provides for an amount less than the principal amount thereof to
be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02.

 

“Outstanding”,
when used with respect to Securities, means, as of the date of determination, all Securities theretofore authenticated and delivered
under this Indenture, except:

 

(1)         Securities
theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;

 

(2)         Securities
for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent
(other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying
Agent) for the Holders of such Securities; provided that, if such Securities are to be redeemed, notice of such redemption
has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made;

 

    	 	4	 

     

    

 

(3)         Securities,
except to the extent provided in Sections 13.02 and 13.03, with respect to which the Company has effected defeasance
or covenant defeasance as provided in Article XIII; and

 

(4)         Securities
that have been paid pursuant to Section 3.06 or in exchange for or in lieu of which other Securities have been authenticated
and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to
the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are
valid obligations of the Company;

 

provided, however, that in
determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made or taken any request,
demand, authorization, direction, notice, consent, waiver, or other action hereunder as of any date or whether a quorum is present
at a meeting of Holders of Securities, (A) the principal amount of an Original Issue Discount Security which shall be deemed to
be Outstanding shall be the amount of the principal thereof that would be due and payable as of such date upon acceleration of
the Maturity thereof to such date pursuant to Section 5.02, (B) if, as of such date, the principal amount payable at the
Stated Maturity of a Security is not determinable, the principal amount of such Security that shall be deemed to be Outstanding
shall be the amount as specified or determined as contemplated by Section 3.01, (C) the principal amount of a Security denominated
in one or more foreign currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent,
determined as of such date in the manner provided as contemplated by Section 3.01, of the principal amount of such Security
(or, in the case of a Security described in Clause (A) or (B) above, of the amount determined as provided in such Clause), and
(D) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor
shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying
upon any such request, demand, authorization, direction, notice, consent, waiver, or other action, or upon any such determination
as to the presence of a quorum, only Securities that a Responsible Officer of the Trustee actually knows to be so owned shall be
so disregarded.

 

“Paying Agent”
means any Person authorized by the Company to pay the principal of or any premium or interest on any Securities on behalf of the
Company, which shall initially be the Trustee.

 

“Person”
means any individual, corporation, partnership, limited liability company, joint venture, trust, unincorporated organization or
government or any agency or political subdivision thereof.

 

“Place of
Payment”, when used with respect to the Securities of any series, means the place or places specified in accordance
with Section 3.01 where the principal of and any premium and interest on the Securities of that series are payable.

 

“Predecessor
Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as
that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered
under Section 3.06 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence
the same debt as the mutilated, destroyed, lost or stolen Security.

 

    	 	5	 

     

    

 

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

 

“Redemption
Price”, when used with respect to any Security to be redeemed, means the price at which it is to be redeemed pursuant
to this Indenture.

 

“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”, when used with respect to the Trustee, means any vice president, the treasurer, any assistant treasurer,
any trust officer or assistant trust officer, the controller or any assistant controller or any other officer of the Trustee customarily
performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular
corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the
particular subject and who shall have responsibility for the administration of this Indenture.

 

“Securities”
has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered
under this Indenture provided, however, that if at any time there is more than one Person acting as Trustee under
this Indenture, “Securities” with respect to the Indenture as to which such Person is Trustee shall have the meaning
stated in the first recital of this Indenture and shall more particularly mean Securities authenticated and delivered under this
Indenture, exclusive, however, of Securities of any series as to which such Person is not Trustee.

 

“Securities
Act” means the United States Securities Act of 1933 and any statute successor thereto, in each case as amended from
time to time.

 

“Security
Register” and “Security Registrar” have the respective meanings specified in Section
3.05.

 

“Senior Debt”
shall, with respect to any series of securities, have the meaning set forth in the Officers’ Certificate or supplemental
indenture or indentures relating to such series of securities.

 

“Special
Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.07.

 

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

 

    	 	6	 

     

    

 

“Subsidiary”
means a corporation more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by the Company or
by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting
stock” means the equity interest that ordinarily has voting power for the election of directors, managers or trustees
of an entity, or persons performing similar functions, whether at all times or only so long as no senior class of equity interest
has such voting power by reason of any contingency.

 

“Trust Indenture
Act” means the United States Trust Indenture Act of 1939 as in force at the date as of which this instrument was
executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust
Indenture Act” means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended.

 

“Trustee”
means the Person named as the “Trustee” in the first paragraph of this instrument 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, and if at any time there is more than one such Person, “Trustee” as used
with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series.

 

“United States
Alien” means any Person who, for United States Federal income tax purposes, is a foreign corporation, a non-resident
alien individual, a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members
of which is, for United States Federal income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident
alien fiduciary of a foreign estate or trust.

 

“Vice President”,
when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word
or words added before or after the title “vice president”.

 

Section 1.02.         Compliance
Certificates and Opinions. Upon any application or request by the Company to the Trustee to take any action under any provision
of this Indenture, the Company shall furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture
Act. Each such certificate or opinion shall be given in the form of an Officers’ Certificate, if to be given by an officer
of the Company, or an Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture
Act and any other requirements set forth in this Indenture.

 

Every certificate or
opinion with respect to compliance with a condition or covenant provided for in this Indenture (except for certificates provided
for in Section 10.04) shall include,

 

(1)         a
statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions herein
relating thereto;

 

(2)         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;

 

    	 	7	 

     

    

 

(3)         a
statement that, in the opinion of each such individual, 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

 

(4)         a
statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with.

 

Section 1.03.         Form
of Documents Delivered to Trustee. In any case where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such
Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect
to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to
such matters in one or several documents.

 

Any certificate or opinion
of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations
by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or opinion of counsel
may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or
officers of the Company stating that the information with respect to such factual matters is in the possession of the Company,
unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations
with respect to such matters are erroneous.

 

Where any Person is required
to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments
under this Indenture, they may, but need not, be consolidated and form one instrument.

 

Section 1.04.         Acts
of Holders; Record Dates. Any request, demand, authorization, direction, notice, consent, waiver or other action provided or
permitted by this Indenture to be given, made or taken by Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by agent duly appointed in writing. 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. Such instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof
of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture
and (subject to Section 6.01) conclusive in favor of the Trustee and the Company, if made in the manner provided in this
Section.

 

The fact and date of
the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or
by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by a signer acting in a capacity
other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The
fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be
proved in any other manner which the Trustee deems sufficient.

 

    	 	8	 

     

    

 

The principal amount
and serial numbers of Securities held by any Person, and the date of holding the same, shall be proved by the Security Register.

 

Any request, demand,
authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of
the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or
in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon,
whether or not notation of such action is made upon such Security.

 

The Company may set any
day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to give, make
or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture
to be given, made or taken by Holders of Securities of such series, provided, that the Company may not set a record date
for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request
or direction referred to in the next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action, whether
or not such Holders remain Holders after such record date; provided, that no such action shall be effective hereunder unless
taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such
series on such record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record date
for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously
set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be
construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the
relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company,
at its own expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to
be given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section
1.06.

 

The Trustee may set any
day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to join in the
giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 5.02, (iii) any
request to institute proceedings referred to in Section 5.07(2) or (iv) any direction referred to in Section 5.12,
in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of such series on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request
or direction, whether or not such Holders remain Holders after such record date; provided, that no such action shall be
effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of
Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Trustee
from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon
the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing
in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding
Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph,
the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable
Expiration Date to be given to the Company in writing and to each Holder of Securities of the relevant series in the manner set
forth in Section 1.06.

 

    	 	9	 

     

    

 

With respect to any record
date set pursuant to this Section, the party hereto that sets such record date may designate any day as the “Expiration
Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no such
change shall be effective unless notice of the proposed new Expiration Date is given to the other party hereto in writing, and
to each Holder of Securities of the relevant series in the manner set forth in Section 1.06, on or prior to the existing
Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section, the party
hereto that set such record date shall be deemed to have initially designated the 180th day after such record date as the Expiration
Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph.

 

Without limiting the
foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so with regard
to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant
to such appointment with regard to all or any part of such principal amount.

 

Without limiting the
generality of the foregoing, a Holder, including a Depositary that is the Holder of a Global Security, may make, give or take,
by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other
action provided in this Indenture to be made, given or taken by Holders, and a Depositary that is the Holder of a Global Security
may provide its proxy or proxies to the beneficial owners of interests in any such Global Security through such Depositary’s
standing instructions and customary practices.

 

Section 1.05.         Notices,
Etc., to Trustee and Company. 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 shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing
(which may be via facsimile) to or with the Trustee at its Corporate Trust Office, Attention: Corporate Trust Services, or

 

(2)         the
Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided)
if in writing and mailed, first-class postage prepaid, to the Company addressed to it at the address of its principal office specified
in the first paragraph of this instrument, Attention: General Counsel, or at any other address previously furnished in writing
to the Trustee by the Company.

 

    	 	10	 

     

    

 

Section 1.06.         Notice
to Holders; Waiver. Except as otherwise expressly provided herein, where this Indenture provides for notice of any event to
Holders of Securities, such notice shall be sufficiently given to Holders of Securities if in writing and mailed, first-class postage
prepaid or via email, to each Holder of a Security affected by such event, at the address of such Holder as it appears in the Security
Register, not later than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of
such notice.

 

In case by reason of
the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice to Holders
of Securities by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification
for every purpose hereunder. In any case where notice to Holders of Securities is given by mail, neither the failure to mail such
notice, nor any defect in any notice so mailed, to any particular Holder of a Security 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. Waivers of notice by Holders of Securities 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.

 

Section 1.07.         Conflict
with Trust Indenture Act. This Indenture shall incorporate and be governed by the provisions of the Trust Indenture Act that
are required to be part of and to govern indentures qualified under the Trust Indenture Act. If any provision hereof limits, qualifies
or conflicts with a provision of the Trust Indenture Act that is required under the Trust Indenture Act to be a part of and govern
this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the
Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so
modified or to be excluded, as the case may be.

 

Section 1.08.         Effect
of Headings and 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 1.09.         Successors
and Assigns. All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so
expressed or not.

 

Section 1.10.         Separability
Clause. In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 1.11.         Benefits
of Indenture. Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the
parties hereto and their successors hereunder, the holders of Senior Debt and the Holders of Securities, any benefit or any legal
or equitable right, remedy or claim under this Indenture.

 

Section 1.12.         Governing
Law. This Indenture and the Securities shall be governed by and construed in accordance with the law of the State of New York.

 

    	 	11	 

     

    

 

Section 1.13.         Legal
Holidays. In any case where any Interest Payment Date, Redemption Date, sinking fund payment date, Stated Maturity or Maturity
of any Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture
or of the Securities (other than a provision of any Security which specifically states that such provision shall apply in lieu
of this Section)) payment of interest or principal (and premium, if any) need not be made at such Place of Payment on such date,
but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest
Payment Date, Redemption Date or sinking fund payment date or at the Stated Maturity or Maturity, as the case may be.

 

Section 1.14.         Language
of Notices, Etc. Any request, demand, authorization, direction, notice, consent or waiver required or permitted under this
Indenture shall be in the English language, except that any published notice may be in an official language of the country of publication.

 

Section 1.15.         Submission
to Jurisdiction. The Company irrevocably submits to the non-exclusive jurisdiction of any federal or state court in the City,
County and State of New York and any appellate court from any thereof, in any legal suit, action or proceeding based on or arising
under the Securities or this Indenture and agrees that all claims in respect of such suit or proceeding may be determined in any
such court. The Company irrevocably waives, to the fullest extent permitted by law, any objection to any such suit, action or proceeding
in such courts, whether on the grounds of venue, residence or domicile or the defense of an inconvenient forum or objections to
personal jurisdiction with respect to the maintenance of such legal suit, action or proceeding. The Company agrees that the final
judgment in any such suit, action or proceeding brought in such court shall be conclusive and binding upon the Company and may
be enforced in any court to the jurisdiction of which the Company is subject by a suit upon such judgment.

 

Section 1.16.         U.S.A.
Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like
all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify,
and record information that identifies each person or legal entity that establishes a relationship or opens an account with the
Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may reasonably request
in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act.

 

Section 1.17.         Force
Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations
hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes,
work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being
understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to
resume performance as soon as practicable under the circumstances.

 

    	 	12	 

     

    

 

Section 1.18.         Waiver
of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR
THE TRANSACTION CONTEMPLATED HEREBY. 

 

Article
II

SECURITY FORMS 

 

Section 2.01.         Forms
Generally. The Securities of each series shall be in substantially the forms set forth in Exhibits A and A1 or
in such other form (including temporary or permanent global form) as shall be established by or pursuant to a Board Resolution
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 Depositary
therefor or as may, consistently herewith, be determined by the officers executing such Securities as evidenced by their execution
thereof. If the form of Securities of any series 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 delivered to the Trustee
at or prior to the delivery of the Company Order contemplated by Section 3.03 for the authentication and delivery of such
Securities (or any such temporary global Security).

 

The definitive Securities
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.

 

Section 2.02.         Form
of Legend for Global Securities. Unless otherwise specified as contemplated by Section 3.01 for the Securities evidenced
thereby, every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form:

 

THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE
THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN
WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 

    	 	13	 

     

    

 

Section 2.03.         Form
of Trustee’s Certificate of Authentication. The Trustee’s certificates of authentication shall be in substantially
the following form:

 

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

 

	 	Wells Fargo Bank, National Association
	 	As Trustee
	 	 	 
	 	By:	 
	 	 	Authorized Signatory
	 	 	Name:
	 	 	Title:

 

Section 2.04.         Securities
in Global Form. If Securities of or within a series are issuable in global form, as specified as contemplated by Section
3.01, then, notwithstanding Clause (3) of Section 3.01 and the provisions of Section 3.02, any such Security
shall represent such of the Outstanding Securities of such series as shall be specified therein and may provide that it shall represent
the aggregate amount of Outstanding Securities from time to time endorsed thereon and that the aggregate amount of Outstanding
Securities represented thereby may from time to time be reduced to reflect exchanges. Any endorsement of a Security in global form
to reflect the amount, or any increase or decrease in the amount, of Outstanding Securities represented thereby shall be made by
the Trustee in such manner and upon instructions given by such Person or Persons as shall be specified therein or in the Company
Order to be delivered to the Trustee pursuant to Section 3.03 or Section 3.04. Subject to the provisions of Section
3.03 and, if applicable, Section 3.04, the Trustee shall deliver and redeliver any Security in permanent global form
in the manner and upon instructions given by the Person or Persons specified therein or in the applicable Company Order. If a Company
Order pursuant to Section 3.03 or Section 3.04 has been, or simultaneously is, delivered, any instructions by
the Company with respect to endorsement or delivery or redelivery of a Security in global form shall be in writing but need not
comply with Section 1.02 and need not be accompanied by an Opinion of Counsel.

 

The provisions of the
last sentence of Section 3.03 shall apply to any Security represented by a Security in global form if such Security was
never issued and sold by the Company and the Company delivers to the Trustee the Security in global form together with written
instructions (which need not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel) with regard
to the reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by
the last sentence of Section 3.03.

 

Notwithstanding the provisions
of Section 2.01 and 3.07, unless otherwise specified as contemplated by Section 3.01, payment of principal
of and any premium and interest on any Security in permanent global form shall be made to the Person or Persons specified therein.

 

    	 	14	 

     

    

 

Article
III

THE SECURITIES 

 

Section 3.01.         Amount
Unlimited; Issuable in Series. The aggregate principal amount of Securities which may be authenticated and delivered under
this Indenture is unlimited.

 

The Securities may be
issued in one or more series. There shall be established in or pursuant to a Board Resolution and, subject to Section 3.03,
set forth, or determined in the manner provided, in an Officers’ Certificate, or established in one or more indentures supplemental
hereto, prior to the issuance of Securities of any series,

 

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

 

(2)         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 Section 3.04, 3.05, 3.06, 9.06 or 11.07 and except for any Securities
which, pursuant to Section 3.03, are deemed never to have been authenticated and delivered hereunder);

 

(3)         if
other than denominations of $1,000 and any integral multiple thereof, the denominations in which any Securities of the series shall
be issuable;

 

(4)         the
date or dates upon which the principal of the Securities of the series is payable and whether the Stated Maturity may be extended
or the method used to determine or extend those dates;

 

(5)         the
rate or rates at which the Securities of the series shall bear interest, if any, or the method by which such rate or rates shall
be determined, whether such rate or rates may be reset, the date or dates from which any such interest shall accrue or the method
used for determining those dates, the Interest Payment Dates on which any such interest shall be payable and the Regular Record
Date for the interest payable on any Securities on any Interest Payment Date or method by which such date or dates shall be determined;

 

(6)         the
basis for calculating interest if other than a 360-day year of twelve 30-day months;

 

(7)         the
right, if any, to extend the interest payment periods and the duration of any such deferral period;

 

(8)         whether
the amount of payments of principal (or premium, if any) or interest, if any, on the Securities of the series may be determined
with reference to an index, formula or other method (which index, formula or method may be based, without limitation, on one or
more currencies, commodities, equity indices or other indices), and the manner in which such amounts shall be determined;

 

    	 	15	 

     

    

 

(9)         the
place or places where, subject to the provisions of Section 10.02, the principal of and any premium, if any, and interest,
if any, on Securities of the series shall be payable, where any Securities of the series may be surrendered for registration of
transfer, where Securities of the series may be surrendered for exchange, where Securities of that series that are convertible
or exchangeable may be surrendered for conversion or exchange, as applicable, and notices and demands to or upon the Company in
respect of the Securities of the series and this Indenture may be served;

 

(10)        the
rate or rates of amortization of Securities of the series, if any;

 

(11)        the
obligation or discretion, if any, of the Company to redeem, repay or purchase any Securities of the series pursuant to any sinking
fund or analogous provisions or at the option of the Holder thereof and the period or periods within which, the price or prices
at which, and the terms and conditions upon which, any Securities of the series shall be redeemed, repaid or purchased, in whole
or in part, pursuant to such obligation;

 

(12)        the
terms and conditions, if any, regarding any mandatory conversion or exchange of Securities;

 

(13)        the
period or periods within which, the price or prices at which, and the terms and conditions upon which any Securities of the series
may be redeemed, in whole or in part, at the option of the Company and, if other than by a Board Resolution, the manner in which
any election by the Company to redeem the Securities shall be evidenced;

 

(14)        any
restriction or condition on the transferability of Securities of a particular series;

 

(15)        if
other than the entire principal amount thereof, the portion of the principal amount of any Securities of the series which shall
be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02;

 

(16)        the
currency or currencies, including composite currencies or currency units, in which payment of the principal of and any premium
and interest on any Securities of the series shall be payable if other than the currency of the United States of America and the
manner of determining the equivalent thereof in the currency of the United States of America for purposes of the definition of
“Outstanding” in Section 1.01;

 

(17)        if
the principal of or any premium or interest on any Securities of the series is to be payable, at the election of the Company or
the Holder thereof, in one or more currencies or currency units other than that or those in which such Securities are stated to
be payable, the currency, currencies or currency units in which the principal of or any premium or interest on such Securities
as to which such election is made shall be payable, the periods within which and the terms and conditions upon which such election
is to be made and the amount so payable (or the manner in which such amount shall be determined);

 

(18)        provisions,
if any, granting special rights to Holders of the Securities upon the occurrence of specified events;

 

    	 	16	 

     

    

 

(19)        any
addition to or change in the Events of Default which applies to any Securities of the series and any change in the right of the
Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section
5.02;

 

(20)        any
addition to or change in the definitions set forth in Article I that apply to the Securities of the series, and any addition
to or change in the covenants set forth in Article X which applies to Securities of the series;

 

(21)        if
applicable, that the Securities of the series, in whole or any specified part, shall be defeasible pursuant to Section 13.02
or Section 13.03 or both such Sections, any variations of such Sections and, if other than by a Board Resolution, the manner
in which any election by the Company to defease such Securities shall be evidenced;

 

(22)        the
terms and conditions, if any, upon which Holders may convert or exchange the Securities of the series into or for the Company’s
LLC interests or other securities or property.

 

(23)        whether
any Securities of the series are to be issuable initially in temporary global form and whether any Securities of the series are
to be issuable in permanent global form and, if so, whether beneficial owners of interests in any such permanent global Security
may exchange such interests for Securities of such series and of like tenor of any authorized form and denomination and the circumstances
under which any such exchanges may occur, if other than in the manner provided in Section 3.05;

 

(24)        if
applicable, that any Securities of the series shall be issuable in whole or in part in the form of one or more Global Securities
and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne
by any such Global Security in addition to or in lieu of that set forth in Section 2.02 and any circumstances in addition
to or in lieu of those set forth in the fourth paragraph of Section 3.05 in which any such Global Security may be exchanged
in whole or in part for Securities registered, and any transfer of such Global Security in whole or in part may be registered,
in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof;

 

(25)        the
appointment of any paying agents, authenticating agents, transfer agents, registrars or other agents, if other than the Trustee;

 

(26)        the
Person to whom any interest on any Security of the series shall be payable, if other than the Person in whose name that Security
(or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, and
the extent to which, or the manner in which, any interest payable on a temporary global Security on an Interest Payment Date will
be paid, if other than in the manner provided in Section 3.04;

 

(27)        if
the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more
dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such
date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable upon any Maturity
other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any
such case, the manner in which such amount deemed to be the principal amount shall be determined);

 

    	 	17	 

     

    

 

(28)        whether,
under what circumstances and the Currency in which the Company will pay additional amounts as contemplated by Section 10.09
on the Securities of the series to any Holder who is not a United States Person(s) (including any modification to the definition
of such term) in respect of any tax, assessment or governmental charge and, if so, whether the Company will have the option to
redeem such Securities rather than pay such additional amounts (and the terms of any such option);

 

(29)        the
specific subordination provisions applicable to the Securities; and

 

(30)        any
other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture, except as permitted by
Section 9.01(5)).

 

All Securities of such
series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to the
Board Resolution referred to above and (subject to Section 3.03) set forth, or determined in the manner provided, in the
Officers’ Certificate referred to above or in any such indenture supplemental hereto.

 

If any of the terms of
the series are 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 delivered to the Trustee at or prior to the delivery
of the Officers’ Certificate setting forth the terms of the series.

 

The Securities shall
be subordinated in right of payment to Senior Debt as provided, with respect to any series of Securities, in an Officers’
Certificate, supplemental indenture or indentures relating to such series of Securities.

 

Section 3.02.         Denominations.
Unless otherwise provided as contemplated by Section 3.01 with respect to the Securities of any series, any Securities of
such series, other than Securities issued in global form (which may be of any denomination), shall be issuable in denominations
of $2,000 and integral multiples of $1,000 in excess thereof.

 

Section 3.03.         Execution,
Authentication, Delivery and Dating. The Securities shall be executed on behalf of the Company by its Chief Executive Officer,
its President or one of its Vice Presidents, under its corporate seal reproduced thereon attested by its Secretary or one of its
Assistant Secretaries. The signature of any of these officers on the Securities may be manual or facsimile.

 

Securities bearing the
manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding
that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities
or did not hold such offices at the date of such Securities.

 

    	 	18	 

     

    

 

At any time and from
time to, time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by
the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities,
and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities. If the forms or terms of the
Securities of the series have been established by or pursuant to one or more Board Resolutions as permitted by Sections 2.01
and 3.01, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation
to such Securities, the Trustee shall be entitled to receive, and (subject to Section 6.01) shall be fully protected in
relying upon, an Opinion of Counsel stating,

 

(1)         if
the forms of such Securities have been established by or pursuant to Board Resolution as permitted by Section 2.01, that
such form have been established in conformity with the provisions of this Indenture;

 

(2)         if
the terms of such Securities have been established by or pursuant to Board Resolution as permitted by Section 3.01, that
such terms have been established in conformity with the provisions of this Indenture; and

 

(3)         that
such Securities when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company enforceable in accordance
with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general
applicability relating to or affecting creditors’ rights and to general equity principles.

 

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

 

Notwithstanding the provisions
of Section 3.01 and of the two preceding paragraphs, if all Securities of a series are not to be originally issued at one
time, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to Section 3.01 or
the Company Order and Opinion of Counsel otherwise required pursuant to such preceding paragraphs at or prior to the authentication
of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the
first Security of such series to be issued.

 

Each Security shall be
dated the date of its authentication.

 

No Security shall be
entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a
certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such
certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated
and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but
never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in
Section 3.09, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered
hereunder and shall never be entitled to the benefits of this Indenture.

 

    	 	19	 

     

    

 

Section 3.04.         Temporary
Securities. Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order
the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or
otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they
are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities
may determine, as evidenced by their execution of such Securities.

 

If temporary Securities
of any series are issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay.
After the preparation of definitive Securities of that series, the temporary Securities of such series shall be exchangeable for
definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company
in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary
Securities of any series the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or more
definitive Securities of the same series, of any authorized denominations and like aggregate principal amount and tenor.

 

Until exchanged in full
as hereinafter provided, the temporary Securities of any series shall in all respects be entitled to the same benefits under this
Indenture as definitive Securities of the same series and of like tenor authenticated and delivered hereunder.

 

Section 3.05.         Registration,
Registration of Transfer and Exchange. The Company shall cause to be kept at an office or agency to be maintained by the Company
in accordance with Section 10.02 a register (being the combined register of the Security Registrar and all transfer agents
designated pursuant to Section 10.02 for the purpose of registration of transfer of Securities and sometimes collectively
referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe,
the Company shall provide for the registration of Securities and the registration of transfers of Securities. The Trustee is hereby
appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities
as herein provided.

 

Upon surrender for registration
of transfer of any Security of a series at the office or agency of the Company maintained pursuant to Section 10.02 for
such purpose in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and deliver,
in the name of the designated transferee or transferees, one or more new Securities of the same series, of any authorized denominations
and of like tenor and aggregate principal amount.

 

At the option of the
Holder, Securities of any series may be exchanged for other Securities of the same series, of any authorized denominations and
of like tenor and aggregate principal amount, 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, and the Trustee shall authenticate and deliver, the
Securities that the Holder making the exchange is entitled to receive.

 

    	 	20	 

     

    

 

All Securities issued
upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing the same
debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer
or exchange.

 

Every Security presented
or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee or any transfer
agent) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security
Registrar or any transfer agent duly executed, by the Holder thereof or his attorney duly authorized in writing.

 

No service charge shall
be made for any registration of transfer or exchange of Securities, but 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 registration of transfer or exchange of Securities,
other than exchanges pursuant to Section 3.04, 9.06 or 11.07 not involving any transfer.

 

If the Securities of
any series (or of any series and specified tenor) are to be redeemed in part, the Company shall not be required (A) to issue, register
the transfer of or exchange any Securities of that series (or of that series and specified tenor, as the case may be) during a
period beginning at the opening of business 15 days before any selection of Securities of that series to be redeemed and ending
at the close of business on the day of the mailing of the relevant notice of redemption or (B) to register the transfer of or exchange
any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part.

 

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

 

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

 

Section 3.06.         Mutilated,
Destroyed, Lost and Stolen Securities. If any mutilated Security is surrendered to the Trustee, the Company shall execute and
the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and of like tenor and principal
amount and bearing a number not contemporaneously outstanding.

 

If there shall be delivered
to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such
security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence
of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute
and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same
series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.

 

    	 	21	 

     

    

 

Notwithstanding the provisions
of the previous two paragraphs, in case any such mutilated, destroyed, lost or stolen Security has become or is about to become
due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security.

 

Upon the issuance of
any new Security under this Section, 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.

 

Every new Security of
any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional
contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by
anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities
of that series duly issued hereunder.

 

The provisions of this
Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities.

 

Section 3.07.         Payment
of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 3.01 with respect to
any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest
Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the
close of business on the Regular Record Date for such interest.

 

Any interest on any Security
of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted
Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having
been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in Clause (1)
or (2) below:

 

(1)         The
Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their
respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company
shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted
Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such
money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided.
Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15
days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee
of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name
and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record
Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 1.06, not
less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special
Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities
of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date
and shall no longer be payable pursuant to the following Clause (2).

 

    	 	22	 

     

    

 

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

 

Subject to the foregoing
provisions of this Section and Section 3.05, each Security delivered under this Indenture upon registration of transfer
of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which
were carried by such other Security.

 

Section 3.08.         Persons
Deemed Owners. Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent
of the Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for
the purpose of receiving payment of principal of and any premium and (subject to Section 3.05 and Section 3.07) any
interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company,
the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary.

 

Section 3.09.         Cancellation.
All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund
payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled
by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered
hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person
for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued
and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu
of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All
cancelled Securities held by the Trustee shall be disposed of in the customary manner of the Trustee.

 

Section 3.10.         Computation
of Interest. 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.

 

    	 	23	 

     

    

 

Section 3.11.         CUSIP
Numbers. The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so,
the Trustee shall use such “CUSIP” numbers in notices of redemption as a convenience to Holders; provided that
any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities
or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed
on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will
notify the Trustee of any change to the “CUSIP” numbers.

 

Article
IV

SATISFACTION AND DISCHARGE 

 

Section 4.01.         Satisfaction
and Discharge of Indenture. This Indenture shall upon Company Request cease to be of further effect (except as to any surviving
rights of registration of transfer or exchange of Securities herein expressly provided for, and any right to receive additional
amounts, as provided in Section 10.09), and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture, when

 

(1)         either

 

(A)         all
Securities theretofore authenticated and delivered (other than Securities which have been destroyed, lost or stolen and which have
been replaced or paid as provided in Section 3.06 and Securities for the payment of which money has theretofore been deposited
in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as
provided in Section 10.03) have been delivered to the Trustee for cancellation; or

 

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

 

(i)          have
become due and payable, or

 

(ii)         will
become due and payable at their Stated Maturity within one year, or

 

(iii)        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 (i), (ii)
or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust money in an amount sufficient
to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for
principal and any premium and interest 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;

 

    	 	24	 

     

    

 

(2)         the
Company has paid or caused to be paid all other sums payable hereunder by the Company; and

 

(3)         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.

 

Notwithstanding the satisfaction
and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.07, the obligations of the
Trustee to any Authenticating Agent under Section 6.14 and, if money shall have been deposited with the Trustee pursuant
to subclause (B) of Clause (1) of this Section, the obligations of the Trustee under Section 4.02 and the last paragraph
of Section 10.03 shall survive such satisfaction and discharge.

 

Section 4.02.         Application
of Trust Money. Subject to the provisions of the last paragraph of Section 10.03, all money deposited with the Trustee
pursuant to Section 4.01 shall be held in trust and applied by it, in accordance with the provisions of the 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 any premium and interest for the payment of
which such money has been deposited with the Trustee.

 

Article
V

REMEDIES 

 

Section 5.01.         Events
of Default. “Event of Default”, wherever used herein with respect to Securities of any series, means
any one of the following events (whatever the reason for such Event of Default and whether it shall be occasioned by the provisions
of Article XIV or be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or
order of any court or any order, rule or regulation of any administrative or governmental body):

 

(1)         default
in the payment of any interest upon any Security of that series when it becomes due and payable, and continuance of such default
for a period of 30 days; or,

 

(2)         default
in the payment of the principal of or any premium on any Security of that series at its Maturity; or

 

(3)         default
in the deposit of any sinking fund payment, when and as due by the terms of a Security of that series; or

 

    	 	25	 

     

    

 

(4)         default
in the performance, or breach, of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty
a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been
included in this Indenture solely for the benefit of series of Securities other than that series), and continuance of such default
or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or
to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that series
a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice
of Default” hereunder or

 

(5)         the
entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company in an involuntary
case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or (B) a decree
or order adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement,
adjustment or composition of or in respect of the Company under any applicable Federal or State law, or appointing a custodian,
receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company 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 days;

 

(6)         the
commencement by the Company 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 a bankrupt or insolvent, of the consent by it to the
entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any 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 under any applicable
Federal or State 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 of any substantial part of its
property, 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 in furtherance of any such action;
or

 

(7)         any
other Event of Default provided with respect to Securities of that series.

 

Section 5.02.         Acceleration
of Maturity; Rescission and Annulment. If an Event of Default (other than an Event of Default specified in Section 5.01(5)
or 5.01(6)) with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such
case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare
the principal amount of all the Securities of that series (or, if any Securities of that series are Original Issue Discount Securities,
such portion of the principal amount of such Securities as may be specified by the terms thereof) to be due and payable immediately,
by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount
(or specified amount) shall become immediately due and payable. If an Event of Default specified in Section 5.01(5) or 5.01(6))
with respect to Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of that series
(or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities
as may be specified by the terms thereof) shall automatically, and without any declaration or other action on the part of the Trustee
or any Holder, become immediately due and payable.

 

    	 	26	 

     

    

 

At any time after such
a declaration of acceleration with respect to 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 provided, the Holders of a majority in principal
amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such
declaration and its consequences if

 

(1)         the
Company has paid or deposited with the Trustee a sum sufficient to pay

 

(A)         all
overdue interest on all Securities of that series,

 

(B)         the
principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of
acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,

 

(C)         to
the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in
such Securities, and

 

(D)         all
sums paid or advanced by the Trustee hereunder and the owed compensation, expenses, disbursements, indemnities and advances of
the Trustee, its agents and counsel;

 

and

 

(2)         all
Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that
series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13.

 

No such rescission shall
affect any subsequent default or impair any right consequent thereon.

 

Section 5.03.         Collection
of Indebtedness and Suits for Enforcement by Trustee.

 

The Company covenants that if

 

(1)         default
is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for
a period of 30 days, or

 

(2)         default
is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, in the case of technical
or administrative difficulties only if such a default persists for a period of five days,

 

    	 	27	 

     

    

 

the Company will, upon
demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such
Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable,
interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities,
and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the
owed compensation, expenses, disbursements, indemnities and advances, of the Trustee, its agents and counsel.

 

If the Company fails
to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute
a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree
and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys adjudged or decreed
to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever
situated.

 

If an Event of Default
with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce
its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall
deem reasonably necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement
in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

 

Section 5.04.         Trustee
May File Proofs of Claim. In case of any judicial proceeding relative to the Company (or any other obligor upon the Securities),
its property or its creditors, the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to
take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed
in any such proceeding. In particular, the Trustee shall be authorized to collect and receive any moneys or other property payable
or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator
or other similar official 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 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.

 

No provision of this
Indenture 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 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; provided, however, that the Trustee
may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’
or other similar committee.

 

    	 	28	 

     

    

 

Section 5.05.         Trustee
May Enforce Claims Without Possession of Securities. All rights of action and claims under this Indenture or the Securities
may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any
proceeding relating thereto, 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.

 

Section 5.06.         Application
of Money Collected. Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at
the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or any premium or
interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender
thereof if fully paid:

 

FIRST: To the payment
of all amounts due the Trustee under Section 6.07;  

 

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

 

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

 

Section 5.07.         Limitation
on Suits. No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise,
with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless

 

(1)         such
Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that
series;

 

(2)         the
Holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made written request to
the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

(3)         such
Holder or Holders have offered to the Trustee indemnity satisfactory to the Trustee against the costs, expenses and liabilities
to be incurred in compliance with such request;

 

(4)         the
Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding;
and

 

(5)         no
direction inconsistent with such written request has been given to the Trustee during such 60–day period by the Holders of
a majority in principal amount of the Outstanding Securities of that series;

 

    	 	29	 

     

    

 

it being understood and intended that no
one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this
Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and
for the equal and ratable benefit of all of such Holders.

 

Section 5.08.         Unconditional
Right of Holders to Receive Principal, Premium and Interest. Notwithstanding any other provision in this Indenture, the Holder
of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and any premium
and (subject to Sections 3.05 and 3.07) interest on such Security on the respective Stated Maturities expressed in
such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment,
and such rights shall not be impaired without the consent of such Holder.

 

Section 5.09.         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, 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 had been instituted.

 

Section 5.10.         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 3.06, 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 5.11.         Delay
or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Securities 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.

 

Section 5.12.         Control
by Holders. The Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right
to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust
or power conferred on the Trustee, with respect to the Securities of such series, provided that

 

(1)         such
direction shall not be in conflict with any rule of law or with this Indenture, and

 

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(2)         the
Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.

 

Section 5.13.         Waiver
of Past Defaults. The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may
on behalf of the Holders of all the Securities of such series waive any past default hereunder with respect to such series and
its consequences, except a default

 

(1)         in
the payment of the principal of or any premium or interest on any Security of such series, or

 

(2)         in
respect of a covenant or provision hereof which under Article IX cannot be modified or amended without the consent of the
Holder of each Outstanding Security of such series affected.

 

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 5.14.         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, suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking
to pay the costs of such suit, and may assess costs including reasonable attorneys’ fees and expenses against any such party
litigant, in the manner and to the extent provided in the Trust Indenture Act; provided that neither this Section nor the
Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any
suit instituted by the Company or the Trustee.

 

Section 5.15.         Waiver
of Usury, Stay or Extension Laws. The Company covenants (to the extent that it may lawfully do so) that it will not at any
time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension
law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture;
and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and
covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and
permit the execution of every such power as though no such law had been enacted.

 

Article
VI

THE TRUSTEE 

 

Section 6.01.         Certain
Duties and Responsibilities. The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act.
Notwithstanding the foregoing, no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers,
if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability
is not reasonably assured to it. Whether or not therein expressly so provided, every provision of this Indenture relating to the
conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section.

 

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Section 6.02.         Notice
of Defaults. If a default occurs hereunder with respect to Securities of any series and is known to the Trustee, the Trustee
shall give the Holders of Securities of such series notice of such default as and to the extent provided by the Trust Indenture
Act; provided, however, that in the case of any default of the character specified in Section 5.01(4) with
respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof.
For the purpose of this Section, the term “default” means any event which is, or after notice or lapse
of time or both would become, an Event of Default with respect to Securities of such series.

 

Section 6.03.         Certain
Rights of Trustee. Subject to the provisions of Section 6.01:

 

(1)         the
Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document (whether in its original or facsimile form) believed by it to be genuine and to have been signed or
presented by the proper party or parties;

 

(2)         any
request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order, and
any resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution;

 

(3)         whenever
in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking,
suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence
of bad faith on its part, rely upon an Officers’ Certificate;

 

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

 

(5)         the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction
of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee reasonable security or
Indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction;

 

(6)         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, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled
to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company;

 

    	 	32	 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

(13)         the
Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to this Indenture.

 

Section 6.04.         Not
Responsible for Recitals or Issuance of Securities. 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 neither the Trustee nor any Authenticating
Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency
of this Indenture or of the Securities. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application
by the Company of Securities or the proceeds thereof.

 

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Section 6.05.         May
Hold Securities. The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the
Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 6.08
and 6.13, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating
Agent, Paying Agent, Security Registrar or such other agent.

 

Section 6.06.         Money
Held in Trust. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required
by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with
the Company.

 

Section 6.07.         Compensation
and Reimbursement. The Company agrees

 

(1)         to
pay to the Trustee from time to time such compensation as the Trustee and the Company shall from time to time agree to in writing
for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation
of a trustee of an express trust);

 

(2)         except
as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation
and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as shall be determined
to have been caused by its own negligence or bad faith; and

 

(3)         to
indemnify the Trustee for, and to hold it harmless against, any loss, liability, claim, damage or expense incurred without negligence
or bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder,
including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance
of any of its powers or duties hereunder.

 

Section 6.08.         Conflicting
Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee
shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of,
the Trust Indenture Act and this Indenture. To the extent permitted by such Act, the Trustee shall not be deemed to have a conflicting
interest by virtue of being a trustee under this Indenture with respect to Securities of more than one series.

 

Section 6.09.         Corporate
Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities
of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that
is eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000 and
has its Corporate Trust Office in New York, New York. If any such Person publishes reports of condition at least annually, pursuant
to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent
permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined capital
and surplus as set forth in its most recent report of condition so published. If at any time the Trustee with respect to the Securities
of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the
manner and with the effect hereinafter specified in this Article.

 

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Section 6.10.         Resignation
and Removal; Appointment of Successor. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant
to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable
requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11
shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee
may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such
series.

 

The Trustee may be removed
at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding
Securities of such series, delivered to the Trustee and to the Company.

 

If at any time:

 

(1)         the
Trustee shall fail to comply with Section 6.08 after written request therefor by the Company or by any Holder who has been
a bona fide Holder of a Security for at least six months, or

 

(2)         the
Trustee shall cease to be eligible under Section 6.09 and shall fail to resign after written request therefor by the Company
or by any such Holder, or

 

(3)         the
Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver 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, (A) the Company
by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 5.14, any Holder
who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment
of a successor Trustee or Trustees.

 

If the Trustee shall
resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect
to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees
with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with
respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect
to the Securities of any particular series) and shall comply with the applicable requirements of Section 6.11. If, within
one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to
the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities
of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its
acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor
Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company.
If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders
of Securities of such series and accepted appointment in the manner required by Section 6.11, any Holder who has been
a bona tide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such
series.

 

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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 to all Holders of Securities of such series in the manner provided
in Section 1.06. 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.

 

Section 6.11.         Acceptance
of Appointment by Successor. In case of the appointment hereunder of a successor Trustee with respect to all Securities, every
such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument
accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the
retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its
charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring
Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder.

 

In case of the appointment
hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring
Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture
supplemental hereto wherein each successor Trustee shall accept such appointment and which (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 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.

 

    	 	36	 

     

    

 

Upon request of any such
successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to
such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may
be.

 

No successor Trustee
shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under
this Article.

 

Section 6.12.         Merger,
Conversion, Consolidation or Succession to Business. Any corporation into which the Trustee may be merged or converted or with
which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall
be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the
successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without
the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall
have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation
to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as
if such successor Trustee had itself authenticated such Securities.

 

Section 6.13.         Preferential
Collection of Claims Against Company. If and when the Trustee shall be or become a creditor of the Company (or any other obligor
upon the Securities), the Trustee shall be subject to the provisions of Section 311 of the Trust Indenture Act, but only to the
extent therein specified, 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:

 

(i)         “cash
transaction” means any transaction in which full payment for goods or securities sold is made within seven 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

 

(ii)         “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.

 

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Section 6.14.         Appointment
of Authenticating Agent. The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities
which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon original issue
and upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.06, and Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated
by the Trustee hereunder. Any such appointment shall be evidenced by an instrument in writing signed by a Responsible Officer of
the Trustee, and a copy of such evidence shall be promptly furnished to the Company. Wherever reference is made in this Indenture
to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference
shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the
Company and shall at all times be a corporation organized and doing business under the laws of the United States of America, any
State thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital
and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State authority. If such Authenticating
Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining
authority, then for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed
to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately
in the manner and with the effect specified in this Section.

 

Any corporation into
which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from
any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the
corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided
such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act
on the part of the Trustee or the Authenticating Agent.

 

An Authenticating Agent
may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate
the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving
such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible
in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable
to the Company and shall give notice of such appointment in the manner provided in Section 1.06 to all Holders of Securities
of the series with respect to which such Authenticating Agent will serve. Any successor Authenticating Agent upon acceptance of
its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect
as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the
provisions of this Section.

 

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If an appointment with
respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition
to the Trustee’s certificate of authentication, an alternative certificate of authentication in the following form:

 

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

 

	 	Wells Fargo Bank, National Association As Trustee
	 	 
	 	By:	 
	 	 	As Authenticating Agent
	 	 	Authorized Officer

 

If all of the Securities
of a series may not be originally issued at one time, and if the Trustee does not have an office capable of authenticating Securities
upon original issuance located in a Place of Payment where the Company wishes to have Securities of such series authenticated upon
original issuance, the Trustee, if so requested by the Company in writing (which writing need not comply with Section 1.02
and need not be accompanied by an Opinion of Counsel), shall appoint in accordance with this Section an Authenticating Agent having
an office in a Place of Payment designated by the Company with respect to such series of Securities.

 

Article
VII

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 

 

Section 7.01.         Company
to Furnish Trustee Names and Addresses of Holders. In the event the Trustee is not acting as the Security Registrar, the Company
will furnish or cause to be furnished to the Trustee

 

(1)         semi-annually,
not later than 15 days after each Regular Record Date or, in the case of any series of Securities on which semi-annual interest
is not payable, not more than 15 days after such semi-annual dates specified by the Trustee, a list, in such form as the Trustee
may reasonably require, of the names and addresses of the Holders of Securities of each series as of the Regular Record Date or
such semi-annual date, as the case may be, and

 

(2)         at
such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a
list of similar form and content as of a date not more than 15 days prior to the time such list is furnished;

 

Section 7.02.         Preservation
of Information; Communications to Holders. 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 7.01 and
the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list
furnished to it as provided in Section 7.01 upon receipt of a new list so furnished.

 

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The rights of Holders
to communicate with other Holders with respect to their rights under this Indenture or under the Securities, and the corresponding
rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act.

 

Every Holder of Securities,
by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any agent
of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made
pursuant to the Trust Indenture Act.

 

Section 7.03.         Reports
by Trustee. 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 annually on or prior to May 15.

 

A copy of each such report
shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities
are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any
stock exchange or delisted therefrom.

 

Section 7.04.         Reports
by Company. The Company shall file with the Trustee and the Commission, and transmit to Holders, such information, documents
and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the manner
provided pursuant to the Trust Indenture Act; provided that any such information, documents or reports required to be filed
with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after
the same is so required to be filed with the Commission.

 

Article
VIII

MERGER, CONSOLIDATION, SALE, ASSIGNMENT, TRANSFER OR CONVEYANCE 

 

Section 8.01.         Company
May Merge, Etc., Only on Certain Terms. The Company shall not merge with or into or consolidate with any other Person or sell,
assign, transfer or convey all or substantially all of its properties and assets to any Person (other than a direct or indirect
wholly-owned subsidiary of the Company), and the Company shall not permit any Person (other than a direct or indirect wholly-owned
subsidiary of the Company) to merge with or into or consolidate with the Company or sell, assign, transfer or convey its properties
and assets substantially as an entirety other than to the Company, unless:

 

(1)         the
Company is the surviving corporation, or, in case the Company shall merge into or consolidate with another Person or sell, assign,
transfer or convey its properties and assets substantially as an entirety to any Person, the Person into which the Company is merged
or formed by such consolidation or the Person which acquires by sale, assignment, transfer or conveyance its properties and assets
substantially as entirety of the Company shall be a corporation, partnership or trust, organized and validly existing under the
laws of the United States of America, any State thereof or the District of Columbia and shall expressly assume, by an indenture
supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of
the principal of and any premium and interest (including all additional amounts, if any payable pursuant to Section 10.09)
on all the Securities and the performance or observance of every covenant of this Indenture on the part of the Company to be performed
or observed;

 

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(2)         immediately
after giving effect to such transaction and treating any indebtedness which becomes an obligation of the Company or any Subsidiary
as a result of such transaction as having been incurred by the Company or such Subsidiary at the time of 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;

 

(3)         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 8.02.         Successor
Substituted. Upon any merger of the Company into, or consolidation of the Company with, any other Person or any sale, assignment,
transfer or conveyance of the properties and assets of the Company substantially as an entirety in accordance with Section 8.01,
the successor Person into which the Company is merged or formed by such consolidation or to which such sale, assignment, transfer
or conveyance is made shall succeed to, and be substituted for, 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, and thereafter, the predecessor
Person shall be relieved of all obligations and covenants under this Indenture and the Securities.

 

Article
IX

SUPPLEMENTAL INDENTURES 

 

Section 9.01.         Supplemental
Indentures Without Consent of Holders. Without the consent of any Holders, the Company, when authorized by a Board Resolution,
and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory
to the Trustee, for any of the following purposes:

 

(1)         to
evidence the succession of another Person to the Company and the assumption by any such successor of the covenants, agreements
and obligations of the Company herein and in the Securities; or

 

(2)         to
add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are
to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for
the benefit of such series) or to surrender any right or power herein conferred upon the Company; or

 

(3)         to
add any additional Events of Default for the benefit of the Holders of all or any series of Securities (and if such additional
Events of Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default
are expressly being included solely for the benefit of such series); or

 

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(4)         to
add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Securities, provided
that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution
of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of any such
Security with respect to such provision or (B) shall become effective only when there is no such Security Outstanding; or

 

(5)         to
secure the Securities; or

 

(6)         to
establish the form or terms of Securities of any series as permitted by Sections 2.01 and 3.01; or

 

(7)         to
evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or
more series and to 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, pursuant to the requirements of Section 6.11; or

 

(8)         (i)
to cure any ambiguity or to correct or supplement any provision herein which may be defective or inconsistent with any other provision
herein, or (ii) to make any other provisions with respect to matters or questions arising under this Indenture, provided
that such action pursuant to this Clause (8(ii)) shall not adversely affect the interests of the Holders of Securities of any series
in any material respect; or

 

(9)         to
supplement any provisions of this Indenture necessary to defease and discharge the Securities of any series, provided that
such action does not adversely affect the interests of the Holders of the Securities in any material respect; or

 

(10)        to
comply with the rules or regulations of any securities exchange or automated quotation system on which any Securities are listed
or traded; or

 

(11)        to
add, change or eliminate any provisions of this Indenture in accordance with any amendments to the Trust Indenture Act, provided
that such action does not adversely affect the interests of the Holders of the Securities in any material respect.

 

Section 9.02.         Supplemental
Indentures With Consent of Holders.  With the consent of the Holders of not less than 50% in aggregate principal
amount of the Outstanding Securities of each series affected by such supplemental indenture, by Act of said Holders delivered
to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture
or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of
the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this
Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each
Outstanding Security affected thereby,

 

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(1)         change
the Stated Maturity of the principal of, or any installment of principal of or 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 obligation of
the Company to pay additional amounts pursuant to Section 10.09 (except as contemplated by Section 8.01(1) and permitted
by Section 9.01(1)), or reduce the amount of the principal of an Original Issue Discount Security or any other Security
which would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02, or change
any Place of Payment 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), or modify the provisions of this Indenture with respect to the subordination of the
Securities in a manner adverse to the Holders, or

 

(2)         reduce
the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any
such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions
of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture, or

 

(3)         make
any change that adversely affects the right to convert or exchange any security or decreases, or

 

(4)         modify
any of the provisions of this Section, Section 5.13 or Section 10.08, except to increase any such percentage 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, however, that this Clause shall 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 and Section 10.08, or the deletion of this proviso, in accordance with the requirements of Sections 6.11
and 9.01(7).

 

A supplemental indenture
which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the
benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series
with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders
of Securities of any other series.

 

It shall not be necessary
for any Act of Holders of Securities under this Section to approve the particular form of any proposed supplemental indenture,
but it shall be sufficient if such Act shall approve the substance thereof.

 

Section 9.03.         Execution
of Supplemental Indentures.  In executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be
entitled to receive, and (subject to Section 6.01) shall be fully protected in relying upon, an Opinion of Counsel stating
that the execution of such supplemental indenture is authorized or permitted by this Indenture and that such supplemental indenture
is the legal, valid and binding obligation of the Company, enforceable in accordance with its terms. The Trustee may, but shall
not be obligated to, enter into any such supplemental indenture which affects the Trustee’s rights, duties or immunities
under this Indenture or otherwise.

 

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Section 9.04.         Effect
of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified
in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder
of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.

 

Section 9.05.         Conformity
with Trust Indenture Act. Every supplemental indenture executed pursuant to this Article shall conform to the requirements
of the Trust Indenture Act.

 

Section 9.06.         Reference
in Securities to Supplemental Indentures. Securities of any series authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as
to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified
as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by
the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series.

 

Article
X

COVENANTS

 

Section 10.01.         Payment
of Principal, Premium and Interest. The Company covenants and agrees for the benefit of Holders of each series of Securities
that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance
with the terms of the Securities and this Indenture.

 

Section 10.02.         Maintenance
of Office or Agency. The Company will maintain in each Place of Payment for any series an office or agency where Securities
of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration
of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of that series 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 any such office or agency. If at any time the Company shall fail to maintain any such required office or agency in respect of
any series of Securities or shall fail to furnish the Trustee with the address thereof, such presentations and surrenders of Securities
of that series may be made and notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the
Company hereby appoints the same as its agent to receive such respective 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, however,
that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency
in each Place of Payment 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.

 

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Section 10.03.         Money
for Securities Payments to Be Held in Trust. 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 or 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.

 

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 the principal and any premium
or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or
interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so
to act.

 

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 shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will (1) comply
with the provisions of the Trust Indenture Act applicable to it as a Paying Agent and (2) 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, upon the written request of the 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.

 

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 shall be released from all further liability with respect to
such money.

 

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 and any premium or interest has become
due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such
trust; and the Holder of such Security shall 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, and all liability of the Company
as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being
required to make any such repayment, may at the expense of the Company cause to be published once, in an Authorized Newspaper in
each Place of Payment, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less
than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.

 

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Section 10.04.         Statement
by Officers as to Default. The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the
Company ending after the date hereof, an Officers’ Certificate, stating whether or not to the best knowledge of the signers
thereof the Company 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 shall be in default, specifying
all such defaults and the nature and status thereof of which they may have knowledge.

 

Section 10.05.         Existence.
Subject to Article VIII, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect
its existence, rights (in accordance with its organizational documents and the laws of the State of Delaware) and franchises; provided,
however, that the Company shall not be required to preserve any such right or franchise if the Board of Directors shall determine
that the preservation thereof is no longer desirable in the conduct of the business of the Company and that the loss thereof is
not disadvantageous in any material respect to the ability of the Company to make payments hereunder.

 

Section 10.06.         Maintenance
of Properties. The Company will cause all properties used or useful in the conduct of its business or the business of any Subsidiary
to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause
to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company
may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times;
provided, however, that nothing in this Section shall prevent the Company from discontinuing the operation or maintenance
of any of such properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of its business or
the business of any Subsidiary and not disadvantageous in any material respect to the ability of the Company to make payments hereunder.

 

Section 10.07.         Payment
of Taxes and Other Claims. The Company will pay or discharge or cause to be paid or discharged, before the same shall become
delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or upon the
income, profits or property of the Company or any Subsidiary, and (2) all lawful claims for labor, materials and supplies which,
if unpaid, might by law become a lien upon the property of the Company or any Subsidiary; provided, however, that
the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim
whose amount, applicability or validity is being contested in good faith.

 

Section 10.08.         Waiver
of Certain Covenants. Except as otherwise specified as contemplated by Section 3.01 for Securities of such series, the
Company may, with respect to the Securities of any series, omit in any particular instance to comply with any term, provision or
condition set forth in any covenant provided pursuant to Section 3.01(12), 9.01(2) or 9.01(7) for the benefit
of the Holders of such series if before the time for such compliance the Holders of at least 50% in principal amount of the Outstanding
Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance
with such term, provision or condition, but no such waiver shall 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 the duties of
the Trustee in respect of any such term, provision or condition shall remain in full force and effect.

 

    	 	46	 

     

    

 

Section 10.09.         Additional
Amounts. If the Securities of a series provide for the payment of additional amounts, the Company will pay to the Holder of
any Security of such series additional amounts as provided therein. Whenever in this Indenture there is mentioned, in any context,
the payment of the principal of or any premium or interest on, or in respect of, any Security of any series or the net proceeds
received on the sale or exchange of any Security of any series, such mention shall be deemed to include mention of the payment
of additional amounts provided for in this Section to the extent that, in such context, additional amounts are, were or would be
payable in respect thereof pursuant to the provisions of this Section and express mention of the payment of additional amounts
(if applicable) in any provisions hereof shall not be construed as excluding additional amounts in those provisions hereof where
such express mention is not made.

 

Article
XI

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 such Securities) in accordance with this
Article.

 

Section 11.02.         Election
to Redeem; Notice to Trustee. In case of any redemption at the election of the Company of less than all the Securities of any
series (including any such redemption affecting only a single Security), the Company shall, at least 35 days prior to the Redemption
Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption
Date, of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to
be redeemed (unless all of the Securities of a specified tenor are to be redeemed). In the case of any redemption of Securities
(i) prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this
Indenture, or (ii) pursuant to an election of the Company which is subject to a condition specified in the terms of such Securities,
the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with such restriction or condition.

 

Section 11.03.         Selection
by Trustee of Securities to Be Redeemed. If less than all the Securities of any series are to be redeemed (unless all the Securities
of such series and of a specified tenor are to be redeemed or unless such redemption affects only a single Security), the particular
Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding
Securities of such series not previously called for redemption, by such method is in accordance with the procedures of the Depositary
and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities
of that series or any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger
than the minimum authorized denomination for Securities of that series or of the principal amount of global securities of such
series. If less than all of the Securities of such series and of a specified tenor are to be redeemed, the particular Securities
to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities
of such series and specified tenor not previously called for redemption in accordance with the preceding sentence. If so specified
in the Securities of a series, partial redemptions must be in an amount not less than $1,000,000 principal amount of Securities.

 

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The Trustee shall promptly
notify the Company in writing of the Securities selected for redemption as aforesaid and, in case of any Securities selected for
partial redemption as aforesaid, the principal amount thereof to be redeemed.

 

The provisions of the
two preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether such Security
is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount
of the Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such
Security.

 

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 Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which
has been or is to be redeemed.

 

Section 11.04.         Notice
of Redemption. Notice of redemption shall be given in the manner provided in Section 1.06 to the Holders of Securities
to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date.

 

All notices of redemption
shall state:

 

(1)         the
Redemption Date,

 

(2)         the
Redemption Price,

 

(3)         if
less than all the Outstanding Securities of any series consisting of more than a single Security are to be redeemed, the identification
(and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed
and, if less than all the Outstanding Securities of any series consisting of a single Security are to be redeemed, the principal
amount of the particular Security to be redeemed,

 

(4)         that
on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable,
that interest thereon will cease to accrue on and after said date,

 

(5)         the
place or places where such Securities are to be surrendered for payment of the Redemption Price,

 

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(6)         that
the redemption is for a sinking fund, if such is the case, and

 

(7)         applicable
CUSIP numbers, if any.

 

A notice of redemption
published as contemplated by Section 1.06 need not identify particular Registered Securities to be redeemed.

 

Notice of redemption
of Securities to be redeemed at the election 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 and shall be irrevocable.

 

Section 11.05.         Deposit
of Redemption Price. Prior to 12:00 noon (Eastern Standard Time) on any Redemption Date, the Company shall deposit with the
Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in
Section 10.03) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be
an Interest Payment Date) accrued interest on, all the Securities which are to be redeemed on that date.

 

Section 11.06.         Securities
Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on
the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the
Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest.
Upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at
the Redemption Price, together with accrued interest to the Redemption Date; provided, however, that, unless otherwise
specified as contemplated by Section 3.01, installments of interest on Securities whose Stated Maturity is on or prior to
the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such
at the close of business on the relevant Record Dates according to their terms and the provisions of Section 3.07.

 

If any Security called
for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium shall, until paid, bear
interest from the Redemption Date at the rate prescribed therefor in the Security.

 

Section 11.07.         Securities
Redeemed in Part. Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with,
if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall
execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or
Securities of the same series and of like tenor, of any authorized denomination as requested by such Holder, in aggregate principal
amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered.

 

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Article
XII

SINKING FUNDS

 

Section 12.01.         Applicability
of Article. The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of any
series except as otherwise specified as contemplated by Section 3.01 for such Securities.

 

The minimum amount of
any sinking fund payment provided for by the terms of any Securities is herein referred to as a “mandatory sinking fund payment”,
and any payment in excess of such minimum amount provided for by the terms of such Securities is herein referred to as an “optional
sinking fund payment”. If provided for by the terms of any Securities, the cash amount of any sinking fund payment may be
subject to reduction as provided in Section 12.02. Each sinking fund payment shall be applied to the redemption of Securities
as provided for by the terms of such Securities.

 

Section 12.02.         Satisfaction
of Sinking Fund Payments with Securities. The Company (1) may deliver Outstanding Securities of a series (other than any previously
called for redemption) and (2) may apply as a credit Securities of a series which have been redeemed either at the election of
the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant
to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to any
Securities of such series required to be made pursuant to the terms of such Securities as and to the extent provided for by the
terms of such Securities; provided that the Securities to be so credited have not been previously so credited. The Securities
to be so credited shall be received and credited for such purpose by the Trustee at the Redemption Price, as specified in the Securities
so to be redeemed, for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced
accordingly.

 

Section 12.03.         Redemption
of Securities for Sinking Fund. Not less than 45 days prior (unless a shorter period shall be satisfactory to the Trustee)
to each sinking fund payment date for any Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying
the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the portion thereof,
if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and
crediting Securities pursuant to Section 12.02 and will also deliver to the Trustee any Securities to be so delivered. Not
less than 30 days prior to each such sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such
sinking fund payment date in the manner specified in Section 11.03 and cause notice of the redemption thereof to be given
in the name of and at the expense of the Company in the manner provided in Section 11.04. Such notice having been duly given,
the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 11.06 and 11.07.

 

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Article
XIII

DEFEASANCE AND COVENANT DEFEASANCE

 

Section 13.01.         Company’s
Option to Effect Defeasance or Covenant Defeasance. The Company may at its option, at any time, elect to have either Section
13.02 or Section 13.03 applied to the Outstanding Securities of any series upon compliance with the conditions set forth
below in this Article XIII.

 

Section 13.02.         Defeasance
and Discharge. Upon the Company’s exercise of the option provided in Section 13.01 applicable to this Section,
the Company shall be deemed to have been discharged from its obligations with respect to the Outstanding Securities of any series
on the date the conditions set forth below are satisfied (hereinafter, “defeasance”). For this purpose, such defeasance
means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities
of such series and to have satisfied all its other obligations under the Securities of such series and this Indenture insofar as
the Securities of such series are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging
the same), except for the following which shall survive until otherwise terminated or discharged hereunder: (A) the rights of Holders
of the Securities of such series to receive, solely from the trust fund described in Section 13.04 and as more fully set
forth in such Section, payments in respect of the principal of and any premium and interest on the Securities of such series when
such payments are due, (B) the Company’s obligations with respect to such Securities under Sections 3.05, 3.06,
10.02 and 10.03, (C) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (D) this Article
XIII. Subject to compliance with this Article XIII, the Company may exercise its option under this Section 13.02
notwithstanding the prior exercise of its option under Section 13.03.

 

Section 13.03.         Covenant
Defeasance. Upon the Company’s exercise of the option provided in Section 13.01 applicable to this Section, (i)
the Company shall be released from its obligations with respect to the Securities of such Series under Section 8.01, Sections
10.05 through 10.09, inclusive, and any covenants provided pursuant to Section 3.01(12), 9.01(2) or 9.01(7)
for the benefit of the Holders of such Securities and (ii) the occurrence of an event specified in Sections 5.01(4), (5),
(6) or (7) shall not be deemed to be an Event of Default on and after the date the conditions set forth below are
satisfied (hereinafter, “covenant defeasance”). For this purpose, such covenant defeasance means that the Company may
omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such Section or
Clause whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Clause or by reason of
any reference in any such Section or Clause to any other provision herein or in any other document, but the remainder of this Indenture
and such Securities shall be unaffected thereby.

 

Section 13.04.         Conditions
to Defeasance or Covenant Defeasance. The following shall be the conditions to application of either Section 13.02 or
Section 13.03 to the then Outstanding Securities of any series:

 

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(1)         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 XIII 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 the Securities of such series, (A) money in an amount, or (B) Government Obligations which 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, money in an amount, or (C) a combination thereof, 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, premium, if any,
and each installment of interest on the Securities on the Stated Maturity of such principal or installment of interest in accordance
with the terms of this Indenture and of the Securities of such series. For this purpose, “Government Obligations”
means, with respect to any series of Securities, securities that are (x) direct obligations of the government that issued the currency
in which such series is denominated (or, if such series is denominated in euro, the direct obligations of any government that is
a member of the European Monetary Union) for the payment of which its full faith and credit is pledged or (y) obligations of a
Person controlled or supervised by and acting as an agency or instrumentality of such government the payment of which is unconditionally
guaranteed as a full faith and credit obligation by such government, which, in either case, are not callable or redeemable at the
option of the issuer thereof and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the
Securities Act) as custodian with respect to any Government Obligation where the relevant government is the United States of America
or a specific payment of principal of or interest on any such Government Obligation held by such custodian for the account of the
holder of such depositary receipt, provided that (except as required by law) such custodian is not authorized to make any
deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect
of the such Government Obligation or the specific payment of principal of or interest on such Government Obligation evidenced by
such depository receipt.

 

(2)         In
the event of an election to have Section 13.02 apply to any Securities or any series of Securities, as the case may be,
the Company shall have delivered to the Trustee an opinion of Counsel stating that (x) the Company has received from, or there
has been published by, the Internal Revenue Service a ruling, or (y) since the date of this Indenture there has been a change in
the applicable Federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the
Holders of the Outstanding Securities of such series will not recognize gain or loss for Federal income tax purposes as a result
of such deposit, defeasance and discharge and will be subject to Federal income tax on the same amount, in the same manner and
at the same times as would have been the case if such deposit, defeasance and discharge had not occurred.

 

(3)         In
the event of an election to have Section 13.03 apply to any Securities or any series of Securities, as the case may be,
the Company shall have delivered to the Trustee an Opinion of Counsel to the effect the that Holders of the Outstanding Securities
of such series will not recognize gain or loss for Federal income tax purposes as a result of such deposit and covenant defeasance
and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would have been the case
if such deposit and covenant defeasance had not occurred.

 

    	 	52	 

     

    

 

(4)         No
Event of Default or event which with 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 Sections 5.01(5) and (6)
are concerned, at any time during the period ending on the 90th day after the date of such deposit (it being understood that this
condition shall not be deemed satisfied until the expiration of such period).

 

(5)         Such
defeasance or covenant defeasance shall not cause the Trustee to have a conflicting interest as defined in Section 6.08
and for purposes of the Trust Indenture Act with respect to any securities of the Company.

 

(6)         Such
defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default under, any other agreement
or instrument to which the Company is a party or by which it is bound.

 

(7)         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 defeasance under Section 13.02 or the covenant defeasance under Section
13.03 (as the case may be) have been complied with.

 

(8)         Such
defeasance or covenant defeasance shall not result in the trust arising from such deposit constituting an investment company as
defined in the Investment Company Act, or such trust shall be qualified under such act or exempt from regulation thereunder.

 

(9)         At
the time of such deposit, (A) no default in the payment of any principal of or premium or interest on any Senior Debt shall have
occurred and be continuing, (B) no event of default with respect to any Senior Debt shall have resulted in such Senior Debt becoming,
and continuing to be, due and payable prior to the date on which it would otherwise have become due and payable (unless payment
of such Senior Debt has been made or duly provided for), and (C) no other event of default with respect to any Senior Debt shall
have occurred and be continuing permitting (after notice or lapse of time or both) the holders of such Senior Debt (or a trustee
on behalf of such holders) to declare such Senior Debt due and payable prior to the date on which it would otherwise have become
due and payable.

 

Section 13.05.         Deposited
Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions. Subject to the provisions of the last
paragraph of Section 10.03, all money and Government Obligations (including the proceeds thereof) deposited with the
Trustee (or other qualifying trustee (solely for purposes of this Section and Section 13.06, the Trustee and any such
other trustee are referred to collectively, for purposes of this Section 13.05, as the “Trustee”)
pursuant to Section 13.04 in respect of the Securities of such series shall be held in trust and applied by the Trustee,
in accordance with the provisions of such Securities of such series 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 Holders of the Securities
of such series, of all sums due and to become due thereon in respect of principal (and premium, if any) and interest, but such
money need not be segregated from other funds except to the extent required by law.

 

    	 	53	 

     

    

 

The Company shall pay
and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government Obligations deposited
pursuant to Section 13.04 or the principal and interest received in respect thereof other than any such tax, fee or
other charge which by law is for the account of the Holders of the Outstanding Securities.

 

Anything in this Article
XIII to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request
any money or Government Obligations held by it as provided in Section 13.04 which, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of
the amount thereof which would then be required to be deposited to effect an equivalent defeasance or covenant defeasance.

 

Section 13.06.         Reinstatement.
If the Trustee or the Paying Agent is unable to apply any money in accordance with Section 13.02 or 13.03 by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application,
then the Company’s obligations under this Indenture and the Securities of such series shall be revived and reinstated as
though no deposit had occurred pursuant to this Article XIII until such time as the Trustee or Paying Agent is permitted
to apply all such money in accordance with Section 13.02 or 13.03; provided, however, that if the Company
makes any payment of principal of (and premium, if any) or interest on any Security following the reinstatement of its obligations,
the Company shall be subrogated to the rights of the Holders of the Securities of such series to receive such payment from the
money held by the Trustee or the Paying Agent.

 

Article
XIV

SUBORDINATION OF SECURITIES

 

Section 14.01.         Securities
Subordinate to Senior Debt. The Securities of a series issued hereunder shall be subordinated in right of payment to the extent
provided in the subordination provisions with respect to the Securities of such series that are established, subject to Section
3.03 herein, pursuant to an Officers’ Certificate, supplemental indenture or indentures.

 

Section 14.02.         Counterparts
and Originals. This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to
be an original, but all such counterparts shall together constitute but one and the same instrument.

 

The exchange of copies
of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery
of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the
parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes

 

*     *     *

 

    	 	54	 

     

    

 

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

 

	 	MACQUARIE INFRASTRUCTURE CORPORATION
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	Wells Fargo Bank, National Association
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 	55	 

     

    

 

EXHIBIT A

 

Form of Face of Security

 

MACQUARIE INFRASTRUCTURE CORPORATION

 

	No. __________	______________________________	$________    

 

Macquarie Infrastructure
Corporation, a Delaware corporation (herein called the “Company”, which term includes any successor Person
under the Indenture hereinafter referred to), for value received, hereby promises to pay to _________, or registered assigns, the
principal sum of ______ Dollars on ________ [if the Security is to bear interest prior to Maturity, insert —, and
to pay interest thereon from _________ or from the most recent Interest Payment Date to which interest has been paid or duly provided
for, semi-annually on _________ and _______in each year, commencing __________, at the rate of ______% per annum, until the principal
hereof is paid or made available for payment [if applicable, insert —, provided that any principal and premium, and
any such installment of interest, which is overdue shall bear interest at the rate of ________% per annum (to the extent that the
payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available
for payment, and such interest shall be payable on demand]. The interest so payable, and punctually paid or duly provided for,
on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be
the _________ or _________ (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any
such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof
shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this
series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture].

 

[If the Security is not
to bear interest prior to Maturity, insert — The principal of this Security shall not bear interest except in the case of
a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal
and any overdue premium shall bear interest at the rate of ______% per annum (to the extent that the payment of such interest shall
be legally enforceable), from the dates such amounts are due until they are paid or made available for payment. Interest on any
overdue principal or premium shall be payable on demand.

 

Payment of the principal
of (and premium, if any) and any such interest on this Security will be made at the office or agency of the Company maintained
for that purpose in ________, in such coin or currency of the United States of America as at the time of payment is legal tender
for payment of public and private debts; provided, however, that at the option of the Company payment of interest
may be made by (i) check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register
or (ii) wire transfer in immediately available funds to the place and account designated in writing by the Person entitled to such
payment as specified in the Security Register.

 

     

     

    

 

Exhibit A

Page 2

 

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

 

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

 

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

 

	 	Macquarie Infrastructure Corporation
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	ATTEST:
	 	 	 
	 	Macquarie Infrastructure Corporation
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

     

     

    

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

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

 

Dated:

 

	 	WELLS FARGO BANK,
	 	National Association, as the Trustee
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

     

     

    

 

EXHIBIT A1

 

Form of Reverse of Security

 

This Security is one
of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and
to be issued in one or more series under an Indenture, dated as of ___________ (herein called the “Indenture”,
which term shall have the meaning assigned to it in such instrument), between the Company and Wells Fargo Bank, National Association,
a nationally chartered banking association, as Trustee (herein called the “Trustee”, which term includes
any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Trustee[, the holders of Senior Debt] and the Holders
of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. [This Security is
one of the series designated on the face hereof, limited in aggregate principal amount to $ _______.]

 

[If applicable, insert
— The Securities of this series are subject to redemption upon not less than 30 days’ notice by mail, [if applicable,
insert — (1) on ________ in any year commencing with the year _________ and ending with the year _________ through operation
of the sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2)] at any time [if applicable,
insert — (1) on or after _______], as a whole or in part, at the election of the Company, at the following Redemption Prices
(expressed as percentages of the principal amount): If redeemed [if applicable, insert — on or before _________ , _________%,
and if redeemed] during the 12-month period beginning ___________ of the years indicated,

 

	
         

        Year
	 	
        Redemption

        Price
	 	
        Year
	 	
        Redemption

        Price

 

 

and thereafter at a Redemption Price equal
to _________ % of the principal amount, together in the case of any such redemption [if applicable, insert — (whether through
operation of the sinking fund or otherwise)] with accrued interest to the Redemption Date, but interest installments whose Stated
Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities,
of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.]

 

[If applicable, insert
— The Securities of this series are subject to redemption upon not less than 30 days’ notice by mail, (1) on ________
in any year commencing with the year ________and ending with the year _______through operation of the sinking fund for this series
at the Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of the principal amount)
set forth in the table below, and (2) at any time [if applicable, insert — on or after _______], as a whole or in part, at
the election of the Company, at the Redemption Prices for redemption otherwise than through operation of the sinking fund (expressed
as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month period beginning _________of
the years indicated,

 

     

     

    

 

Exhibit A1

Page 2

 

	
        Year
	 	
        Redemption Price for

Redemption Through 

Operation of the Sinking Fund
	 	
        Redemption Price for

        Redemption Otherwise Than

        Through Operation of the

        Sinking Fund

 

 

and thereafter at a Redemption Price equal
to _________ % of the principal amount, together in the case of any such redemption (whether through operation of the sinking fund
or otherwise) with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such
Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close
of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.]

 

[If applicable, insert
— Notwithstanding the foregoing, the Company may not, prior to _________ redeem any Securities of this series as contemplated
by [if applicable, insert — Clause (2) of] the preceding paragraph as a part of, or in anticipation of, any refunding operation
by the application, directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance
with generally accepted financial practice) of less than _________% per annum.]

 

[If applicable, insert
— The sinking fund for this series provides for the redemption on ________ in each year beginning with the year ______and
ending with the year ________ of [if applicable, insert — not less than $ _______(“mandatory sinking fund”) and
not more than] $ _______aggregate principal amount of Securities of this series. Securities of this series acquired or redeemed
by the Company otherwise than through [if applicable, insert — mandatory] sinking fund payments may be credited against subsequent
[if applicable, insert — mandatory] sinking fund payments otherwise required to be made [if applicable, insert —, in
the inverse order in which they become due].]

 

[If the Security is subject
to redemption of any kind, insert — In the event of redemption of this Security in part only, a new Security or Securities
of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation
hereof.]

 

The indebtedness evidenced
by this Security is, to the extent provided in the Indenture, subordinate and junior in right of payment to the prior payment in
full of all Senior Debt, and this Security is issued subject to the provisions of the Indenture with respect thereto. Each Holder
of this Security, by accepting the same, (a) agrees to and shall be bound by such provisions of the Indenture, (b) authorizes and
directs the Trustee on his or her behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the
subordination so provided and (c) appoints the Trustee his or her attorney-in-fact for any and all such purposes. Each Holder hereof,
by his or her acceptance hereof, hereby waives all notice of the acceptance of the subordination provisions contained herein and
in the Indenture by each holder of Senior Debt, whether now outstanding or hereafter incurred, and waives reliance by each such
Holder upon said provisions.

 

     

     

    

 

Exhibit A1

Page 3

 

[If applicable, insert
— The Securities shall [not be superior in right of payment to, and shall] rank pari passu with[,] —
insert description of existing debt of the Company that is intended to rank on a parity with the Securities.]

 

[If applicable, insert
— The Indenture contains provisions for defeasance at any time of [the entire indebtedness of this Security] [or] [certain
restrictive covenants and Events of Default with respect to this Security] [, in each case] upon compliance with certain conditions
set forth in the Indenture.]

 

[If the Security is not
an Original Issue Discount Security, insert — If an Event of Default with respect to Securities of this series shall occur
and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect
provided in the Indenture.]

 

[If the Security is an
Original Issue Discount Security, insert — If an Event of Default with respect to Securities of this series shall occur and
be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the
effect provided in the Indenture. Such amount shall be equal to —insert formula for determining the amount. Upon payment
(i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal, premium and interest
(in each case to the extent that the payment of such interest shall be legally enforceable), all of the Company’s obligations
in respect of the payment of the principal of and premium and interest, if any, on the Securities of this series shall terminate.]

 

The Indenture permits,
with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company
and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of 50% in principal amount of the Securities at the time Outstanding of each series
to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the
Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance
by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any
such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders
of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

 

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

 

     

     

    

 

Exhibit A1

Page 4

 

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

 

As provided in the Indenture
and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon
surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal
of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer
in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized
in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the
same aggregate principal amount, will be issued to the designated transferee or transferees.

 

The Securities of this
series are issuable only in registered form without coupons in denominations of $________ and any integral multiple thereof. As
provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for
a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested
by the Holder surrendering the same.

 

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

 

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

 

All terms used in this
Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.Exhibit 10.1

 

ROCK CREEK
PHARMACEUTICALS, Inc.

2016 OMNIBuS INCENTIVE PLAN

 

1.   
Purpose, Effective Date and Definitions.

 

(a) 
Purpose. This Rock Creek Pharmaceuticals, Inc. 2016 Omnibus Incentive Plan has two complementary purposes: (i) to
attract, retain, focus and motivate executives and other selected employees, directors, consultants and advisors and (ii) to increase
stockholder value. The Plan will accomplish these objectives by offering participants the opportunity to acquire shares of the
Company’s common stock, receive monetary payments based on the value of such common stock or receive other incentive compensation
on the terms that this Plan provides.

 

(b) 
Effective Date. This Plan is effective as of March 30, 2016 (the “Effective Date”).

 

(c) 
Definitions. Capitalized terms used and not otherwise defined in various sections of the Plan have the meanings given
in Section 18.

 

2.   
Administration.

 

(a) 
Administration. In addition to the authority specifically granted to the Administrator in this Plan, the Administrator
has full discretionary authority to administer this Plan, including but not limited to the authority to: (i) interpret the
provisions of this Plan or any agreement covering an Award; (ii) prescribe, amend and rescind rules and regulations relating
to this Plan; (iii) correct any defect, supply any omission, or reconcile any inconsistency in the Plan, any Award or any
agreement covering an Award in the manner and to the extent it deems desirable to carry this Plan or such Award into effect; and
(iv) make all other determinations necessary or advisable for the administration of this Plan. All Administrator determinations
shall be made in the sole discretion of the Administrator and are final and binding on all interested parties.

 

Notwithstanding any provision of the Plan
to the contrary, the Administrator shall have the discretion to grant an Award with any vesting condition, any vesting period or
any performance period if the Award is granted to a newly hired or promoted Participant, or accelerate or shorten the vesting or
performance period of an Award, in connection with a Participant’s death, Disability, Retirement or termination by the Company
or an Affiliate without Cause or a Change of Control.

 

Notwithstanding the above statement or any
other provision of the Plan, once established, the Administrator shall have no discretion to increase the amount of compensation
payable under an Award that is intended to be performance-based compensation under Code Section 162(m), although the Administrator
may decrease the amount of compensation a Participant may earn under such an Award.

 

(b) 
Delegation to Other Committees or Officers. To the extent applicable law permits, the Board may delegate to another
committee of the Board, or the Committee may delegate to one or more officers of the Company, any or all of their respective authority
and responsibility as an Administrator of the Plan; provided that no such delegation is permitted with respect to Stock-based
Awards made to Section 16 Participants at the time any such delegated authority or responsibility is exercised unless the
delegation is to another committee of the Board consisting entirely of Non-Employee Directors. If the Board or the Committee has
made such a delegation, then all references to the Administrator in this Plan include such other committee or one or more officers
to the extent of such delegation.

 

     

     

    

   

(c) 
No Liability; Indemnification. No member of the Board or the Committee, and no officer or member of any other committee
to whom a delegation under Section 2(b) has been made, will be liable for any act done, or determination made, by the individual
in good faith with respect to the Plan or any Award. The Company will indemnify and hold harmless each such individual as to any
acts or omissions, or determinations made, with respect to this Plan or any Award to the maximum extent that the law and the Company’s
by-laws permit.

 

3.   
Eligibility. The Administrator may designate any of the following as a Participant from
time to time, to the extent of the Administrator’s authority: any officer or other employee of the Company or its Affiliates;
any individual that the Company or an Affiliate has engaged to become an officer or employee; any consultant or advisor who provides
services to the Company or its Affiliates; or any Director, including a Non-Employee Director. The Administrator’s granting
of an Award to a Participant will not require the Administrator to grant an Award to such individual at any future time. The Administrator’s
granting of a particular type of Award to a Participant will not require the Administrator to grant any other type of Award to
such individual. 

 

4.   
Types of Awards; Assistance to Participants.

 

(a) 
Grants of Awards. Subject to the terms of this Plan, the Administrator may grant any type of Award to any Participant
it selects, but only employees of the Company or a Subsidiary (that qualifies under Code Section 422) may receive grants of incentive
stock options within the meaning of Code Section 422. Awards may be granted alone or in addition to, in tandem with, or (subject
to the prohibition on repricing set forth in Section 14(e)) in substitution for any other Award (or any other award granted
under another plan of the Company or any Affiliate, including the plan of an acquired entity).

 

(b) 
Assistance. On such terms and conditions as shall be approved by the Administrator, the Company or any Subsidiary
may directly or indirectly lend money to any Participant or other person to accomplish the purposes of the Plan, including to assist
such Participant or other person to acquire Shares upon the exercise of Options, provided that such lending is not permitted
to the extent it would violate terms of the Sarbanes-Oxley Act of 2002 or any other law, regulation or other requirement applicable
to the Company or any Subsidiary.

 

5.   
Shares Reserved under this Plan.

 

(a) 
Plan Reserve. Subject to adjustment as provided in Section 16, an aggregate of six million (6,000,000) Shares are
reserved for issuance under this Plan, all of which may be issued upon the exercise of incentive stock options. The Shares reserved
for issuance may be either authorized and unissued Shares or shares reacquired at any time and now or hereafter held as treasury
stock. The aggregate number of Shares reserved under this Section 5(a) shall be depleted by the maximum number of Shares, if any,
that may be issuable under an Award as determined at the time of grant. For purposes of determining the aggregate number of Shares
reserved for issuance under this Plan, any fractional Share shall be rounded to the next highest full Share.

 

(b) 
Replenishment of Shares Under this Plan. If (i) an Award lapses, expires, terminates or is cancelled without the
issuance of Shares under the Award (whether due currently or on a deferred basis), (ii) it is determined during or at the
conclusion of the term of an Award that all or some portion of the Shares with respect to which the Award was granted will not
be issuable, or that other compensation with respect to the Shares covered by the Award will not be payable, on the basis that
the conditions for such issuance will not be satisfied, (iii) Shares are forfeited under an Award, (iv) Shares are issued under
any Award and the Company subsequently reacquires them pursuant to rights reserved upon the issuance of the Shares or (v) Shares
are tendered to satisfy the exercise price of an Award or federal, state or local tax withholding obligations, then such Shares
shall be recredited to the Plan’s reserve and may again be used for new Awards under this Plan, but Shares recredited to
the Plan’s reserve pursuant to clause (iv) or (v) may not be issued pursuant to incentive stock options.

 

    	 	2	 

     

    

  

6.   
Options. Subject to the terms of this Plan, the Administrator will determine all terms
and conditions of each Option, including but not limited to: (a) whether the Option is an “incentive stock option”
which meets the requirements of Code Section 422, or a “nonqualified stock option” which does not meet the requirements
of Code Section 422; (b) the grant date, which may not be any day prior to the date that the Administrator approves the grant;
(c) the number of Shares subject to the Option; (d) the exercise price, which may not be less than the Fair Market Value of the
Shares subject to the Option as determined on the date of grant; (e) the terms and conditions of vesting and exercise; and (f)
the term, except that an Option must terminate no later than ten (10) years after the date of grant. In all other respects,
the terms of any incentive stock option should comply with the provisions of Code Section 422 except to the extent the Administrator
determines otherwise. Except to the extent the Administrator determines otherwise, a Participant may exercise an Option in whole
or part after the right to exercise the Option has accrued, provided that any partial exercise must be for one hundred (100)
Shares or multiples thereof. If an Option that is intended to be an incentive stock option fails to meet the requirements thereof,
the Option shall automatically be treated as a nonqualified stock option to the extent of such failure. Unless restricted by the
Administrator, and subject to such procedures as the Administrator may specify, the payment of the exercise price of Options may
be made by (x) delivery of cash or other Shares or other securities of the Company (including by attestation) having a then Fair
Market Value equal to the purchase price of such Shares or (y) by delivery to the Company or its designated agent of an executed
irrevocable option exercise form together with irrevocable instructions to a broker-dealer to sell or margin a sufficient portion
of the Shares and deliver the sale or margin loan proceeds directly to the Company to pay for the exercise price. To the extent
permitted by the Administrator, the payment of the exercise price of the Options may also be made by surrendering the right to
receive Shares otherwise deliverable to the Participant upon exercise of the Award having a Fair Market Value at the time of exercise
equal to the total exercise price or by any combination of such method and the methods described in the preceding sentence. Except
to the extent otherwise set forth in an Award agreement, a Participant shall have no rights as a holder of Stock as a result of
the grant of an Option until the Option is exercised, the exercise price and applicable withholding taxes are paid and the Shares
subject to the Option are issued thereunder.

 

7.   
Stock Appreciation Rights. Subject to the terms of this Plan, the Administrator will determine
all terms and conditions of each SAR, including but not limited to: (a) whether the SAR is granted independently of an Option or
relates to an Option; (b) the grant date, which may not be any day prior to the date that the Administrator approves the grant;
(c) the number of Shares to which the SAR relates; (d) the grant price, provided that the grant price shall not be less
than the Fair Market Value of the Shares subject to the SAR as determined on the date of grant; (e) the terms and conditions of
exercise or maturity, including vesting; (f) the term, provided that a SAR must terminate no later than ten (10) years after
the date of grant; and (g) whether the SAR will be settled in cash, Shares or a combination thereof. If a SAR is granted in relation
to an Option, then unless otherwise determined by the Administrator, the SAR shall be exercisable or shall mature at the same time
or times, on the same conditions and to the extent and in the proportion, that the related Option is exercisable and may be exercised
or mature for all or part of the Shares subject to the related Option. Upon exercise of any number of SARs, the number of Shares
subject to the related Option shall be reduced accordingly and such Option may not be exercised with respect to that number of
Shares. The exercise of any number of Options that relate to a SAR shall likewise result in an equivalent reduction in the number
of Shares covered by the related SAR.

 

    	 	3	 

     

    

  

8.   
Performance and Stock Awards. Subject to the terms of this Plan, the Administrator will
determine all terms and conditions of each award of Shares, Restricted Stock, Restricted Stock Units, Performance Shares or Performance
Units, including but not limited to: (a) the number of Shares and/or units to which such Award relates; (b) whether, as a condition
for the Participant to realize all or a portion of the benefit provided under the Award, one or more Performance Goals must be
achieved during such period as the Administrator specifies; (c) whether the restrictions imposed on Restricted Stock or Restricted
Stock Units shall lapse, and all or a portion of the Performance Goals subject to an Award shall be deemed achieved, upon a Participant’s
death, Disability or Retirement; (d) the length of the vesting and/or performance period and, if different, the date on which payment
of the benefit provided under the Award will be made; (e) with respect to Performance Units, whether to measure the value of each
unit in relation to a designated dollar value or the Fair Market Value of one or more Shares; and (f) with respect to Restricted
Stock Units and Performance Units, whether to settle such Awards in cash, in Shares (including Restricted Stock), or a combination
thereof. 

 

9.   
Annual Incentive Awards. Subject to the terms of this Plan, the Administrator will
determine all terms and conditions of an Annual Incentive Award, including but not limited to the Performance Goals, the performance
period, the potential amount payable, and the timing of payment; provided that the Administrator must require that payment
of all or any portion of the amount subject to the Annual Incentive Award is contingent on the achievement of one or more Performance
Goals during the period the Administrator specifies, although the Administrator may specify that all or a portion of the Performance
Goals subject to an Award are deemed achieved upon a Participant’s death, Disability or Retirement (except, in the case of
an Award intended to constitute performance-based compensation under Code Section 162(m), to the extent inconsistent with the applicable
requirements of Code Section 162(m)), or such other circumstances as the Administrator may specify. 

 

10. 
Long-Term Incentive Awards. Subject to the terms of this Plan, the Administrator will
determine all terms and conditions of a Long-Term Incentive Award, including but not limited to the Performance Goals, the performance
period (which must be more than one year), the potential amount payable, and the timing of payment; provided that the Administrator
must require that payment of all or any portion of the amount subject to the Long-Term Incentive Award is contingent on the achievement
of one or more Performance Goals during the period the Administrator specifies, although the Administrator may specify that all
or a portion of the Performance Goals subject to an Award are deemed achieved upon a Participant’s death, Disability or Retirement
(except, in the case of an Award intended to constitute performance-based compensation under Code Section 162(m), to the extent
inconsistent with the applicable requirements of Code Section 162(m)), or such other circumstances as the Administrator may specify.

 

    	 	4	 

     

    

  

11. 
Dividend Equivalent Units. Subject to the terms of this Plan, the Administrator will determine
all terms and conditions of each award of Dividend Equivalent Units, including but not limited to whether: (a) such Award will
be granted in tandem with another Award; (b) payment of the Award will be made concurrently with dividend payments or credited
to an account for the Participant which provides for the deferral of such amounts until a stated time; (c) the Award will be settled
in cash or Shares; and (d) as a condition for the Participant to realize all or a portion of the benefit provided under the Award,
one or more Performance Goals must be achieved during such period as the Administrator specifies; provided that Dividend
Equivalent Units may not be granted in connection with an Option, Stock Appreciation Right or other “stock right” within
the meaning of Code Section 409A; and provided further that no Dividend Equivalent Unit granted in tandem with another
Award shall include vesting provisions more favorable to the Participant than the vesting provisions, if any, to which the tandem
Award is subject.

 

12. 
Other Stock-Based Awards. Subject to the terms of this Plan, the Administrator may grant
to Participants other types of Awards, which may be denominated or payable in, valued in whole or in part by reference to, or otherwise
based on, Shares, either alone or in addition to or in conjunction with other Awards, and payable in Stock or cash. Without limitation
except as provided herein (and subject to the limitations of Section 14(e)), such Award may include the issuance of shares of unrestricted
Stock, which may be awarded in payment of director fees, in lieu of cash compensation, in exchange for cancellation of a compensation
right, as a bonus, or upon the attainment of Performance Goals or otherwise, or rights to acquire Stock from the Company. The Administrator
shall determine all terms and conditions of the Award, including but not limited to, the time or times at which such Awards shall
be made, and the number of Shares to be granted pursuant to such Awards or to which such Award shall relate; provided that
any Award that provides for purchase rights shall be priced at 100% of Fair Market Value on the date of the Award. 

 

13. 
Restrictions on Transfer, Encumbrance and Disposition. No Award granted under this
Plan may be sold, assigned, mortgaged, pledged, exchanged, hypothecated or otherwise transferred, or encumbered or disposed of,
by a Participant other than by will or the laws of descent and distribution, and during the lifetime of the Participant such Awards
may be exercised only by the Participant or the Participant’s legal representative or by the permitted transferee of such
Participant as hereinafter provided (or by the legal representative of such permitted transferee). Notwithstanding the foregoing,
a Participant may transfer an Award to the extent expressly permitted by the Administrator. Subsequent transfers of transferred
Awards are prohibited except transfers otherwise made in accordance with this Section 13. Any attempted transfer not permitted
by this Section 13 shall be null and void and have no legal effect. The restrictions set forth in this Section 13, and
any risk of forfeiture applicable to an Award, shall be enforceable against any transferee of an Award.

 

14. 
Termination and Amendment of Plan; Amendment, Modification or Cancellation of Awards.

 

(a) 
Term of Plan. Unless the Board earlier terminates this Plan pursuant to Section 14(b), this Plan will terminate when
all Shares reserved for issuance have been issued. If the term of this Plan extends beyond ten (10) years from the Effective Date,
no incentive stock options may be granted after such time unless the stockholders of the Company have approved an extension of
this Plan. In addition, no Award may constitute qualified performance-based compensation within the meaning of Code Section 162(m)
unless, to the extent required by Code Section 162(m) for such Award to constitute qualified performance-based compensation, the
material terms of the Performance Goals applicable to such Award are disclosed to and reapproved by the stockholders of the Company
no later than the first stockholder meeting that occurs in the fifth (5th) year following the year in which the stockholders
previously approved the Performance Goals.

 

    	 	5	 

     

    

  

(b) 
Termination and Amendment. The Board or the Administrator may amend, alter, suspend, discontinue or terminate this
Plan at any time, subject to the following limitations:

 

(i)           
the Board must approve any amendment of this Plan to the extent the Company determines such approval is required by: (A) prior
action of the Board, (B) applicable corporate law, or (C) any other applicable law; and

 

(ii)          
stockholders must approve any amendment of this Plan to the extent the Company determines such approval is required by:
(A) Section 16 of the Exchange Act, (B) the Code, (C) the listing requirements of any principal securities
exchange or market on which the Shares are then traded, or (D) any other applicable law.

 

(c)         
Amendment, Modification, Cancellation and Disgorgement of Awards.

 

(i)           
Except as provided in Section 14(e) and subject to the requirements of this Plan, the Administrator may modify, amend
or cancel any Award, or waive any restrictions or conditions applicable to any Award or the exercise of the Award; provided
that, except as otherwise provided in the Plan or the Award agreement, any modification or amendment that materially diminishes
the rights of the Participant, or the cancellation of the Award, shall be effective only if agreed to by the Participant or any
other person(s) as may then have an interest in the Award, but the Administrator need not obtain Participant (or other interested
party) consent for the modification, amendment or cancellation of an Award pursuant to the provisions of subsection (ii) or Section 16
or as follows: (A) to the extent the Administrator deems such action necessary to comply with any applicable law or the listing
requirements of any principal securities exchange or market on which the Shares are then traded; (B) to the extent the Administrator
deems necessary to preserve favorable accounting or tax treatment of any Award for the Company; or (C) to the extent the Administrator
determines that such action does not materially and adversely affect the value of an Award or that such action is in the best interest
of the affected Participant (or any other person(s) as may then have an interest in the Award). Notwithstanding the foregoing,
unless determined otherwise by the Administrator, any such amendment shall be made in a manner that will enable an Award intended
to be exempt from Code Section 409A to continue to be so exempt, or to enable an Award intended to comply with Code Section 409A
to continue to so comply.

 

(ii)          
Notwithstanding anything to the contrary in an Award agreement, the Administrator shall have full power and authority to
terminate or cause the Participant to forfeit the Award, and require the Participant to disgorge to the Company any gains attributable
to the Award, if the Participant engages in any action constituting, as determined by the Administrator in its discretion, Cause
for termination, or a breach of any Award agreement or any other agreement between the Participant and the Company or an Affiliate
concerning noncompetition, nonsolicitation, confidentiality, trade secrets, intellectual property, nondisparagement or similar
obligations.

 

(iii)         
Any Awards granted pursuant to this Plan, and any Stock issued or cash paid pursuant to an Award, shall be subject to any
recoupment or clawback policy that is adopted by, or any recoupment or similar requirement otherwise made applicable by law, regulation
or listing standards to, the Company from time to time.

 

    	 	6	 

     

    

  

(d) 
Survival of Authority and Awards. Notwithstanding the foregoing, the authority of the Board and the Administrator
under this Section 14 and to otherwise administer the Plan with respect to then-outstanding Awards will extend beyond the date
of this Plan’s termination. In addition, termination of this Plan will not affect the rights of Participants with respect
to Awards previously granted to them, and all unexpired Awards will continue in force and effect after termination of this Plan
except as they may lapse or be terminated by their own terms and conditions.

 

(e) 
Backdating Prohibited. The Administrator may not make a grant of an Option or SAR with a grant date that is effective
prior to the date the Administrator takes action to approve such Award.

 

(f)  
Foreign Participation. To assure the viability of Awards granted to Participants employed or residing in foreign
countries, the Administrator may provide for such special terms as it may consider necessary or appropriate to accommodate differences
in local law, tax policy, accounting or custom. Moreover, the Administrator may approve such supplements to, or amendments, restatements
or alternative versions of, this Plan as it determines is necessary or appropriate for such purposes. Any such amendment, restatement
or alternative versions that the Administrator approves for purposes of using this Plan in a foreign country will not affect the
terms of this Plan for any other country. In addition, all such supplements, amendments, restatements or alternative versions must
comply with the provisions of Section 14(b)(ii).

 

(g) 
Code Section 409A. The provisions of Code Section 409A are incorporated herein by reference to the extent necessary
for any Award that is subject to Code Section 409A to comply therewith.

 

15. 
Taxes. 

 

(a) 
Withholding. In the event the Company or one of its Affiliates is required to withhold any Federal, state or local
taxes or other amounts in respect of any income recognized by a Participant as a result of the grant, vesting, payment or settlement
of an Award or disposition of any Shares acquired under an Award, the Company or its Affiliate may deduct (or require an Affiliate
to deduct) from any cash payments of any kind otherwise due the Participant, or with the consent of the Administrator, Shares otherwise
deliverable or vesting under an Award, to satisfy such tax or other obligations. Alternatively, the Company or its Affiliate may
require such Participant to pay to the Company or its Affiliate, in cash, promptly on demand, or make other arrangements satisfactory
to the Company or its Affiliate regarding the payment to the Company or its Affiliate of the aggregate amount of any such taxes
and other amounts. If Shares are deliverable upon exercise or payment of an Award, then, unless restricted by the Administrator
and subject to such procedures as the Administrator may specify, a Participant may satisfy all or a portion of the Federal, state
and local withholding tax obligations arising in connection with such Award by electing to deliver other previously owned Shares.
To the extent expressly permitted by the Administrator, a Participant may satisfy all or a portion of the Federal, state and local
withholding tax obligations arising in connection with an Award by having the Company or its Affiliate withhold Shares otherwise
issuable under the Award or tendering back Shares received in connection with such Award. Notwithstanding anything to the contrary
herein, the amount to be withheld may not exceed the total minimum federal, state and local tax withholding obligations associated
with the transaction to the extent needed for the Company and its Affiliates to avoid an accounting charge. If an election is provided,
the election must be made on or before the date as of which the amount of tax to be withheld is determined and otherwise as the
Administrator requires. In any case, the Company and its Affiliates may defer making payment or delivery under any Award if any
such tax may be pending unless and until indemnified to its satisfaction.

 

    	 	7	 

     

    

  

(b) 
No Guarantee of Tax Treatment. Notwithstanding any provisions of the Plan, the Company does not guarantee to any
Participant or any other Person with an interest in an Award that (i) any Award intended to be exempt from Code Section 409A shall
be so exempt, (ii) any Award intended to comply with Code Section 409A or Code Section 422 shall so comply, or (iii) any Award
shall otherwise receive a specific tax treatment under any other applicable tax law, nor in any such case will the Company or any
Affiliate be required to indemnify, defend or hold harmless any individual with respect to the tax consequences of any Award.

 

16. 
Adjustment Provisions; Change of Control.

 

(a) 
Adjustment of Shares. If: (i) the Company shall at any time be involved in a merger or other transaction in which
the Shares are changed or exchanged; (ii) the Company shall subdivide or combine the Shares or the Company shall declare a dividend
payable in Shares, other securities (other than stock purchase rights issued pursuant to a stockholder rights agreement) or other
property; (iii) the Company shall effect a cash dividend the amount of which, on a per Share basis, exceeds ten percent (10%) of
the Fair Market Value of a Share at the time the dividend is declared, or the Company shall effect any other dividend or other
distribution on the Shares in the form of cash, or a repurchase of Shares, that the Board determines by resolution is special or
extraordinary in nature or that is in connection with a transaction that the Company characterizes publicly as a recapitalization
or reorganization involving the Shares; or (iv) any other event shall occur, which, in the case of this clause (iv), in the judgment
of the Administrator necessitates an adjustment to prevent dilution or enlargement of the benefits or potential benefits intended
to be made available under this Plan, then the Administrator shall, in such manner as it may deem equitable to prevent dilution
or enlargement of the benefits or potential benefits intended to be made available under this Plan, adjust as applicable: (A) the
number and type of shares subject to this Plan (including the number and type of shares described in Sections 5(a) and (b)) and
which may after the event be made the subject of Awards; (B) the number and type of shares subject to outstanding Awards;
(C) the grant, purchase, or exercise price with respect to any Award; and (D) to the extent such discretion does not cause
an Award that is intended to qualify as performance-based compensation under Code Section 162(m) to lose its status as such, the
Performance Goals of an Award. In any such case, the Administrator may also (or in lieu of the foregoing) make provision for a
cash payment to the holder of an outstanding Award in exchange for the cancellation of all or a portion of the Award (without the
consent of the holder of an Award) in an amount determined by the Administrator effective at such time as the Administrator specifies
(which may be the time such transaction or event is effective). However, in each case, with respect to Awards of incentive stock
options, no such adjustment may be authorized to the extent that such authority would cause this Plan to violate Code Section 422(b).
Further, the number of Shares subject to any Award payable or denominated in Shares must always be a whole number. In any event,
previously granted Options or SARs are subject to only such adjustments as are necessary to maintain the relative proportionate
interest the Options and SARs represented immediately prior to any such event and to preserve, without exceeding, the value of
such Options or SARs.

 

    	 	8	 

     

    

  

Without limitation, in the event of any reorganization,
merger, consolidation, combination or other similar corporate transaction or event, whether or not constituting a Change of Control
(other than any such transaction in which the Company is the continuing corporation and in which the outstanding Stock is not being
converted into or exchanged for different securities, cash or other property, or any combination thereof), the Administrator may
substitute, on an equitable basis as the Administrator determines, for each Share then subject to an Award and the Shares subject
to this Plan (if the Plan will continue in effect), the number and kind of shares of stock, other securities, cash or other property
to which holders of Stock are or will be entitled in respect of each Share pursuant to the transaction.

 

Notwithstanding the foregoing, in the case
of a stock dividend (other than a stock dividend declared in lieu of an ordinary cash dividend) or subdivision or combination of
the Shares (including a reverse stock split), if no action is taken by the Administrator, adjustments contemplated by this subsection
that are proportionate shall nevertheless automatically be made as of the date of such stock dividend or subdivision or combination
of the Shares.

 

(b) 
Issuance or Assumption. Notwithstanding any other provision of this Plan, and without affecting the number of Shares
otherwise reserved or available under this Plan, in connection with any merger, consolidation, acquisition of property or stock,
or reorganization, the Administrator may authorize the issuance or assumption of awards under this Plan upon such terms and conditions
as it may deem appropriate.

 

(c) 
Change of Control. Unless otherwise expressly provided in an Award agreement or another contract, including an employment
agreement, or under the terms of a transaction constituting a Change of Control, the Administrator may provide for the acceleration
of the vesting or earning and, if applicable, exercisability of any outstanding Award, or portion thereof, or the lapsing of any
conditions or restrictions on or the time for payment in respect of any outstanding Award, or portion thereof, upon a Change of
Control or the termination of the Participant’s employment following a Change of Control. In addition, unless otherwise expressly
provided in an Award agreement or another contract, including an employment agreement, or under the terms of a transaction constituting
a Change of Control, without limitation of the foregoing, the Administrator may provide that any or all of the following shall
occur in connection with a Change of Control: (i) the substitution for the Shares subject to any outstanding Award, or portion
thereof, of stock or other securities of the surviving corporation or any successor corporation to the Company, or a parent or
subsidiary thereof, in which event the aggregate purchase or exercise price, if any, of such Award, or portion thereof, shall remain
the same, (ii) the conversion of any outstanding Award, or portion thereof, into a right to receive cash or other property upon
or following the consummation of the Change of Control in an amount equal to the value of the consideration to be received by holders
of Shares in connection with such transaction for one Share, less the per share purchase or exercise price of such Award, if any,
multiplied by the number of Shares subject to such Award, or a portion thereof, (iii) acceleration of the vesting (and, as applicable,
the exercisability) of any and/or all outstanding Awards, (iv) the cancellation of any outstanding and unexercised Awards upon
or following the consummation of the Change of Control (without the consent of an Award holder or any person with an interest in
an Award), (v) in the case of Options or SARs, the cancellation of all outstanding Options or SARs in exchange for a cash payment
equal to the excess of the Change of Control Price over the exercise price of the Shares subject to such Option or SAR upon the
Change of Control (or for no cash payment if such excess is zero), and/or (vi) the cancellation of any Awards in exchange for a
cash payment based on the value of the Award as of the date of the Change of Control (or for no payment if the Award has no value).

 

    	 	9	 

     

    

  

For purposes of this Section 16, the “value”
of a Performance Share shall be equal to, and the “value” of a Performance Unit for which the value is equal to the
Fair Market Value of Shares shall be based on, the Change of Control Price. Notwithstanding anything to the contrary in this Section 16(c),
the terms of any Awards that are subject to Code Section 409A shall govern the treatment of such Awards upon a Change of Control,
and the terms of this Section 16(c) shall not apply, to the extent required for such Awards to remain compliant with Code
Section 409A, as applicable.

 

(d) 
Application of Limits on Payments.

 

(i)           
Determination of Cap or Payment. Except to the extent the Participant has in effect an employment or similar agreement
with the Company or any Affiliate or is subject to a policy that provides for a more favorable result to the Participant upon a
Change of Control, if any payments or benefits paid by the Company pursuant to this Plan, including any accelerated vesting or
similar provisions (“Plan Payments”), would cause some or all of the Plan Payments in conjunction with any other payments
made to or benefits received by a Participant in connection with a Change of Control (such payments or benefits, together with
the Plan Payments, the “Total Payments”) to be subject to the tax (“Excise Tax”) imposed by Code Section
4999 but for this Section 16(d), then, notwithstanding any other provision of this Plan to the contrary, the Total Payments shall
be delivered either (A) in full or (B) in an amount such that the value of the aggregate Total Payments that the Participant is
entitled to receive shall be One Dollar ($1.00) less than the maximum amount that the Participant may receive without being subject
to the Excise Tax, whichever of (A) or (B) results in the receipt by the Participant of the greatest benefit on an after-tax basis
(taking into account applicable federal, state and local income taxes and the Excise Tax).

 

(ii)          
Procedures.

 

(A) 
If a Participant or the Company believes that a payment or benefit due the Participant will result in some or all of the
Total Payments being subject to the Excise Tax, then the Company, at its expense, shall obtain the opinion (which need not be unqualified)
of nationally recognized tax counsel (“National Tax Counsel”) selected by the Company (which may be regular outside
counsel to the Company), which opinion sets forth (1) the amount of the Base Period Income (as defined below), (2) the amount and
present value of the Total Payments, (3) the amount and present value of any excess parachute payments determined without regard
to any reduction of Total Payments pursuant to Section 16(d)(i)(B), and (4) the net after-tax proceeds to the Participant, taking
into account applicable federal, state and local income taxes and the Excise Tax if (x) the Total Payments were delivered in accordance
with Section 16(d)(i)(A) or (y) the Total Payments were delivered in accordance with Section 16(d)(i)(B). The opinion of National
Tax Counsel shall be addressed to the Company and the Participant and shall be binding upon the Company and the Participant. If
such National Tax Counsel opinion determines that Section 16(d)(i)(B) applies, then the Plan Payments or any other payment or benefit
determined by such counsel to be includable in the Total Payments shall be reduced or eliminated so that under the bases of calculations
set forth in such opinion there will be no excess parachute payment. In such event, payments or benefits included in the Total
Payments shall be reduced or eliminated by applying the following principles, in order: (1) the payment or benefit with the higher
ratio of the parachute payment value to present economic value (determined using reasonable actuarial assumptions) shall be reduced
or eliminated before a payment or benefit with a lower ratio; (2) the payment or benefit with the later possible payment date shall
be reduced or eliminated before a payment or benefit with an earlier payment date; and (3) cash payments shall be reduced prior
to non-cash benefits; provided that if the foregoing order of reduction or elimination would violate Code Section 409A,
then the reduction shall be made pro rata among the payments or benefits included in the Total Payments (on the basis of the relative
present value of the parachute payments).

 

    	 	10	 

     

    

  

(B) 
For purposes of this Section 16: (1) the terms “excess parachute payment” and “parachute payments”
shall have the meanings given in Code Section 280G and such “parachute payments” shall be valued as provided therein;
(2) present value shall be calculated in accordance with Code Section 280G(d)(4); (3) the term “Base Period Income”
means an amount equal to the Participant’s “annualized includible compensation for the base period” as defined
in Code Section 280G(d)(1); (4) for purposes of the opinion of National Tax Counsel, the value of any noncash benefits or any deferred
payment or benefit shall be determined by the Company’s independent auditors in accordance with the principles of Code Sections
280G(d)(3) and (4); and (5) the Participant shall be deemed to pay federal income tax and employment taxes at the highest marginal
rate of federal income and employment taxation, and state and local income taxes at the highest marginal rate of taxation in the
state or locality of the Participant’s domicile, net of the maximum reduction in federal income taxes that may be obtained
from the deduction of such state and local taxes.

 

(C)
If National Tax Counsel so requests in connection with the opinion required by this Section 16(d)(ii), the Company shall
obtain, at the Company’s expense, and the National Tax Counsel may rely on, the advice of a firm of recognized executive
compensation consultants as to the reasonableness of any item of compensation to be received by the Participant solely with respect
to its status under Code Section 280G.

 

(D)
The Company agrees to bear all costs associated with, and to indemnify and hold harmless the National Tax Counsel from,
any and all claims, damages and expenses resulting from or relating to its determinations pursuant to this Section 16, except for
claims, damages or expenses resulting from the gross negligence or willful misconduct of such firm.

 

(E) 
This Section 16 shall be amended to comply with any amendment or successor provision to Code Section 280G or Code Section
4999. If such provisions are repealed without successor, then this Section 16(d) shall be cancelled without further effect.

 

    	 	11	 

     

    

  

17. 
Miscellaneous.

 

(a) 
Other Terms and Conditions. The Administrator may provide in any Award agreement such other provisions (whether or
not applicable to the Award granted to any other Participant) as the Administrator determines appropriate to the extent not otherwise
prohibited by the terms of the Plan.

 

(b) 
Employment and Service. The issuance of an Award shall not confer upon a Participant any right with respect to continued
employment or service with the Company or any Affiliate, or the right to continue as a Director. Unless determined otherwise by
the Administrator, for purposes of the Plan and all Awards, the following rules shall apply:

 

(i)           
a Participant who transfers employment between the Company and its Affiliates, or between Affiliates, will not be considered
to have terminated employment;

 

(ii)          
a Participant who ceases to be a Non-Employee Director because he or she becomes an employee of the Company or an Affiliate
shall not be considered to have ceased service as a Director with respect to any Award until such Participant’s termination
of employment with the Company and its Affiliates;

 

(iii)         
a Participant who ceases to be employed by the Company or an Affiliate and immediately thereafter becomes a Non-Employee
Director, a non-employee director of an Affiliate, or a consultant to the Company or any Affiliate shall not be considered to have
terminated employment until such Participant’s service as a director of, or consultant to, the Company and its Affiliates
has ceased; and

 

(iv)        
a Participant employed by an Affiliate will be considered to have terminated employment when such entity ceases to be an
Affiliate.

 

Notwithstanding the foregoing, for purposes
of an Award that is subject to Code Section 409A, if a Participant’s termination of employment or service triggers the payment
of compensation under such Award, then the Participant will be deemed to have terminated employment or service upon his or her
“separation from service” within the meaning of Code Section 409A. Notwithstanding any other provision in this Plan
or an Award to the contrary, if any Participant is a “specified employee” within the meaning of Code Section 409A as
of the date of his or her “separation from service” within the meaning of Code Section 409A, then, to the extent required
by Code Section 409A, any payment made to the Participant on account of such separation from service shall not be made before a
date that is six months after the date of the separation from service.

 

(c) 
No Fractional Shares. No fractional Shares or other securities may be issued or delivered pursuant to this Plan,
and the Administrator may determine whether cash, other securities or other property will be paid or transferred in lieu of any
fractional Shares or other securities, or whether such fractional Shares or other securities or any rights to fractional Shares
or other securities will be canceled, terminated or otherwise eliminated.

 

(d) 
Unfunded Plan; Awards Not Includable for Benefits Purposes. This Plan is unfunded and does not create, and should
not be construed to create, a trust or separate fund with respect to this Plan’s benefits. This Plan does not establish any
fiduciary relationship between the Company and any Participant or other person. To the extent any person holds any rights by virtue
of an Award granted under this Plan, such rights are no greater than the rights of the Company’s general unsecured creditors.
Income recognized by a Participant pursuant to an Award shall not be included in the determination of benefits under any employee
pension benefit plan (as such term is defined in Section 3(2) of the Employee Retirement Income Security Act of 1974, as amended)
or group insurance or other benefit plans applicable to the Participant which are maintained by the Company or any Affiliate, except
as may be provided under the terms of such plans or determined by resolution of the Board.

 

    	 	12	 

     

    

  

(e) 
Requirements of Law and Securities Exchange. The granting of Awards and the issuance of Shares in connection with
an Award are subject to all applicable laws, rules and regulations and to such approvals by any governmental agencies or national
securities exchanges as may be required. Notwithstanding any other provision of this Plan or any award agreement, the Company has
no liability to deliver any Shares under this Plan or make any payment unless such delivery or payment would comply with all applicable
laws and the applicable requirements of any securities exchange or similar entity, and unless and until the Participant has taken
all actions required by the Company in connection therewith. The Company may impose such restrictions on any Shares issued under
the Plan as the Company determines necessary or desirable to comply with all applicable laws, rules and regulations or the requirements
of any national securities exchanges.

 

(f)  
Governing Law; Venue. This Plan, and all agreements under this Plan, will be construed in accordance with and governed
by the laws of the State of Delaware, without reference to any conflict of law principles. Any legal action or proceeding with
respect to this Plan, any Award or any award agreement, or for recognition and enforcement of any judgment in respect of this Plan,
any Award or any award agreement, may only be brought and determined in (i) a court sitting in the State of Delaware, and (ii)
a “bench” trial, and any party to such action or proceeding shall agree to waive its right to a jury trial.

 

(g) 
Limitations on Actions. Any legal action or proceeding with respect to this Plan, any Award or any award agreement,
must be brought within one year (365 days) after the day the complaining party first knew or should have known of the events giving
rise to the complaint.

 

(h) 
Construction. Whenever any words are used herein in the masculine, they shall be construed as though they were used
in the feminine in all cases where they would so apply; and wherever any words are used in the singular or plural, they shall be
construed as though they were used in the plural or singular, as the case may be, in all cases where they would so apply. Titles
of sections are for general information only, and this Plan is not to be construed with reference to such titles.

 

(i)   
Severability. If any provision of this Plan or any award agreement or any Award (a) is or becomes or is deemed
to be invalid, illegal or unenforceable in any jurisdiction, or as to any person or Award, or (b) would disqualify this Plan,
any award agreement or any Award under any law the Administrator deems applicable, then such provision should be construed or deemed
amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Administrator,
materially altering the intent of this Plan, award agreement or Award, then such provision should be stricken as to such jurisdiction,
person or Award, and the remainder of this Plan, such award agreement and such Award will remain in full force and effect.

 

18. 
Definitions. Capitalized terms used in this Plan or any Award agreement have the following
meanings, unless the Award agreement otherwise provides: 

 

    	 	13	 

     

    

  

(a) 
“Administrator” means the Committee; provided that, to the extent the Board has retained authority and
responsibility as an Administrator of the Plan, the term “Administrator” shall also mean the Board or, to the extent
the Committee has delegated authority and responsibility as an Administrator of the Plan to one or more officers of the Company
as permitted by Section 2(b), the term “Administrator” shall also mean such officer or officers.

 

(b) 
“Affiliate” shall have the meaning given in Rule 12b-2 under the Exchange Act. Notwithstanding the foregoing,
for purposes of determining those individuals to whom an Option or Stock Appreciation Right may be granted, the term “Affiliate”
means any entity that, directly or through one or more intermediaries, is controlled by, controls, or is under common control with,
the Company within the meaning of Code Sections 414(b) or (c); provided that, in applying such provisions, the phrase “at
least 20 percent” shall be used in place of “at least 80 percent” each place it appears therein.

 

(c) 
“Award” means a grant of Options, Stock Appreciation Rights, Performance Shares, Performance Units, Restricted
Stock, Restricted Stock Units, Shares, an Annual Incentive Award, a Long-Term Incentive Award, Dividend Equivalent Units or any
other type of award permitted under the Plan.

 

(d) 
“Board” means the Board of Directors of the Company.

 

(e) 
“Cause” means any of the following as determined by the Company: (i) with respect to Participants other than
Non-Employee Directors, (A) the failure of the Participant to perform or observe any of the material terms or provisions of any
written employment agreement between the Participant and the Company or its Affiliates or, if no written agreement exists, the
gross dereliction of the Participant’s duties (for reasons other than the Participant’s Disability) with respect to
the Company or its Affiliates; (B) the failure of the Participant to comply fully with the lawful directives of the Board or the
board of directors of an Affiliate of the Company, as applicable, or the officers or supervisory employees to whom the Participant
reports; (C) the Participant’s dishonesty, misconduct, misappropriation of funds, or disloyalty or disparagement of the Company,
any of its Affiliates or its management or employees; or (D) other proper cause determined in good faith by the Administrator;
or (ii) with respect to Non-Employee Directors, (A) fraud or intentional misrepresentation; (B) embezzlement, misappropriation
or conversion of assets or opportunities of the Company or any of its Affiliates; or (C) any other gross or willful misconduct
as determined by the Committee, in its sole and conclusive discretion.

 

(f)  
“Change of Control” means the first to occur of the following with respect to the Company (which, for purposes
of this definition, shall be included in references to “the Company”):

 

(i)           
Any “Person,” as that term is defined in Sections 13(d) and 14(d) of the Exchange Act, but excluding the Company,
any trustee or other fiduciary holding securities under an employee benefit plan of the Company, or any corporation owned, directly
or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company,
is or becomes the “Beneficial Owner” (as that term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of securities of the Company representing fifty percent (50%) or more of the combined voting power of the Company’s then
outstanding securities;

 

(ii)          
The Company is merged or consolidated with any other corporation or other entity, other than: (A) a merger or consolidation
which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either
by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of
the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger
or consolidation; or (B) the Company engages in a merger or consolidation effected to implement a recapitalization of the Company
(or similar transaction) in which no “Person” (as defined above) acquires fifty percent (50%) or more of the combined
voting power of the Company’s then outstanding securities. Notwithstanding the foregoing, a merger or consolidation involving
the Company shall not be considered a “Change of Control” if the Company is the surviving corporation and shares of
the Stock are not converted into or exchanged for stock or securities of any other corporation, cash or any other thing of value,
unless persons who beneficially owned shares of the Stock outstanding immediately prior to such transaction own beneficially less
than a majority of the outstanding voting securities of the Company immediately following the merger or consolidation;

 

    	 	14	 

     

    

  

(iii)         
The Company or any Affiliate sells, assigns or otherwise transfers assets in a transaction or series of related transactions,
if the aggregate market value of the assets so sold, assigned or otherwise transferred exceeds fifty percent (50%) of the Company’s
consolidated book value, determined by the Company in accordance with generally accepted accounting principles, measured at the
time at which such transaction occurs or the first of such series of related transactions occurs; provided that such a transfer
effected pursuant to a spin-off or split-up where stockholders of the Company retain ownership of the transferred assets proportionate
to their pro rata ownership interest in the Company shall not be deemed a “Change of Control”;

 

(iv)        
The Company dissolves and liquidates substantially all of its assets; or

 

(v)         
At any time after the Effective Date when the “Continuing Directors” cease to constitute a majority of the Board.
For this purpose, a “Continuing Director” shall mean: (A) the individuals who, at the Effective Date, constitute the
Board; and (B) any new Directors (other than Directors designated by a person who has entered into an agreement with the Company
to effect a transaction described in clause (i), (ii), or (iii) of this definition) whose appointment to the Board or nomination
for election by Company stockholders was approved by a vote of at least two-thirds of the then-serving Continuing Directors.

 

If an Award is considered deferred compensation
subject to the provisions of Code Section 409A, then the Administrator may include an amended definition of “Change of Control”
in the Award agreement issued with respect to such Award as necessary to comply with, or as necessary to permit a deferral under,
Code Section 409A.

 

(g) 
“Change of Control Price” means the highest of the following: (i) the Fair Market Value of the Shares, as determined
on the date of the Change of Control; (ii) the highest price per Share paid in the Change of Control transaction; or (iii) the
Fair Market Value of the Shares, calculated on the date of surrender of the relevant Award in accordance with Section 16(c), but
this clause (iii) shall not apply if in the Change of Control transaction, or pursuant to an agreement to which the Company is
a party governing the Change of Control transaction, all of the Shares are purchased for and/or converted into the right to receive
a current payment of cash and no other securities or other property.

 

    	 	15	 

     

    

  

(h) 
“Code” means the Internal Revenue Code of 1986, as amended. Any reference to a specific provision of the Code
includes any successor provision and the regulations promulgated under such provision.

 

(i)   
“Committee” means the Compensation Committee of the Board, or such other committee of the Board that is designated
by the Board with the same or similar authority. The Committee shall consist only of Non-Employee Directors (not fewer than two
(2)) who also qualify as Outside Directors to the extent necessary for the Plan to comply with Rule 16b-3 promulgated under the
Exchange Act or any successor rule and to permit Awards that are otherwise eligible to qualify as “performance-based compensation”
under Section 162(m) of the Code to so qualify.

 

(j)   
“Company” means Rock Creek Pharmaceuticals, Inc., a Delaware corporation, or any successor thereto.

 

(k) 
“Director” means a member of the Board; “Non-Employee Director” means a Director who is not also
an employee of the Company or its Subsidiaries; and “Outside Director” means a Director who qualifies as an outside
director within the meaning of Code Section 162(m).

 

(l)   
“Disability” means disability as defined in the Company’s long-term disability plan covering exempt salaried
employees, except as otherwise determined by the Administrator and set forth in an Award agreement. The Administrator shall make
the determination of Disability and may request such evidence of disability as it reasonably determines.

 

(m)
“Dividend Equivalent Unit” means the right to receive a payment, in cash or Shares, equal to the cash dividends
or other distributions paid with respect to a Share as described in Section 11.

 

(n) 
“Exchange Act” means the Securities Exchange Act of 1934, as amended. Any reference to a specific provision
of the Exchange Act includes any successor provision and the regulations and rules promulgated under such provision.

 

(o) 
“Fair Market Value” means, per Share on a particular date, the last sales price on such date on the national
securities exchange on which the Stock is then traded, as reported in The Wall Street Journal, or if no sales of Stock occur on
the date in question, on the last preceding date on which there was a sale on such exchange. If the Shares are not listed on a
national securities exchange, but are traded in an over-the-counter market, the last sales price (or, if there is no last sales
price reported, the average of the closing bid and asked prices) for the Shares on the particular date, or on the last preceding
date on which there was a sale of Shares on that market, will be used. If the Shares are neither listed on a national securities
exchange nor traded in an over-the-counter market, the price determined by the Administrator, in its discretion, will be used.
If an actual sale of a Share occurs on the market, then the Company may consider the sale price to be the Fair Market Value of
such Share.

 

(p) 
“Incentive Award” means the right to receive a cash payment to the extent Performance Goals are achieved (or
other requirements are met), and shall include “Annual Incentive Awards” as described in Section 9 and “Long-Term
Incentive Awards” as described in Section 10.

 

(q) 
“Option” means the right to purchase Shares at a stated price for a specified period of time.

 

    	 	16	 

     

    

  

(r)  
“Participant” means an individual selected by the Administrator to receive an Award.

 

(s)  
“Performance Goals” means any goals the Administrator establishes that relate to one or more of the following
with respect to the Company or any one or more of its Subsidiaries, Affiliates or other business units: book value; revenue; cash
flow; total stockholder return; dividends; debt; net cash provided by operating activities; net cash provided by operating activities
less net cash used in investing activities; ratio of debt to debt plus equity; profit before tax; gross profit; net profit; net
operating profit; net operating profit after taxes; net sales; earnings before interest and taxes; earnings before interest, taxes,
depreciation and amortization; Fair Market Value of Shares; basic earnings per share; diluted earnings per share; return on stockholder
equity; return on average equity; return on average total capital employed; return on net assets employed before interest and taxes;
economic value added; return on year-end equity; capital; cost of capital; cost of equity; cost of debt; taxes; market share; operating
ratios; combined ratio; loss ratio, net plus the expense ratio; customer satisfaction; customer retention; customer loyalty; strategic
business criteria based on meeting specified revenue goals; market penetration goals; regulatory milestone goals; development milestone
goals; investment performance goals; business expansion goals or cost targets; accomplishment of mergers, acquisitions, dispositions
or similar extraordinary business transactions; profit returns and margins; financial return ratios; market performance and/or
goals or returns or a combination of the foregoing. As to each Performance Goal, the relevant
measurement of performance shall be computed in accordance with generally accepted accounting principles to the extent applicable,
but, unless otherwise determined by the Administrator, will exclude the effects of the following: (i) charges for reorganizing
and restructuring; (ii) discontinued operations; (iii) asset write-downs; (iv) gains or losses on the disposition of a business;
(v) changes in tax or accounting principles, regulations or laws; (vi) mergers, acquisitions, dispositions or recapitalizations;
(vii) impacts on interest expense, preferred dividends and share dilution as a result of debt and capital transactions; and (viii)
extraordinary, unusual and/or non-recurring items of income, expense, gain or loss, that, in case of each of the foregoing, the
Company identifies in its publicly filed periodic or current reports, its audited financial statements, including notes to the
financial statements, or the Management’s Discussion and Analysis section of the Company’s annual report. With respect
to any Award intended to qualify as performance-based compensation under Code Section 162(m), such exclusions shall be made only
to the extent consistent with Code Section 162(m). To the extent consistent with Code Section 162(m), the Administrator may also
provide for other adjustments to Performance Goals in the Award agreement or plan document evidencing any Award. In addition, the
Administrator may appropriately adjust any evaluation of performance under a Performance Goal to exclude any of the following events
that occurs during a performance period: (i) litigation, claims, judgments or settlements; (ii) the effects of changes in other
laws or regulations affecting reported results; and (iii) accruals of any amounts for payment under this Plan or any other compensation
arrangements maintained by the Company; provided that, with respect to any Award intended to qualify as performance-based
compensation under Code Section 162(m), such adjustment may be made only to the extent consistent with Code Section 162(m). Where
applicable, the Performance Goals may be expressed, without limitation, in terms of attaining a specified level of the particular
criterion or the attainment of an increase or decrease (expressed as absolute numbers, averages and/or percentages) in the particular
criterion or achievement in relation to a peer group or other index. The Performance Goals may include a threshold level of performance
below which no payment will be made (or no vesting will occur), levels of performance at which specified payments will be paid
(or specified vesting will occur), and a maximum level of performance above which no additional payment will be made (or at which
full vesting will occur). In addition, in the case of Awards that the Administrator determines at the date of grant will not be
considered “performance-based compensation” under Code Section 162(m), the Administrator may establish other Performance
Goals and provide for other exclusions or adjustments not listed in this Plan.

 

    	 	17	 

     

    

  

(t)   
“Performance Shares” means the right to receive Shares to the extent Performance Goals are achieved (or other
requirements are met) as described in Section 8.

 

(u) 
“Performance Unit” means the right to receive a cash payment and/or Shares valued in relation to a unit that
has a designated dollar value or the value of which is equal to the Fair Market Value of one or more Shares, to the extent Performance
Goals are achieved (or other requirements are met) as described in Section 8.

 

(v) 
“Person” has the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d)
and 14(d) thereof, or any group of Persons acting in concert that would be considered “persons acting as a group” within
the meaning of Treas. Reg. § 1.409A-3(i)(5).

 

(w)
“Plan” means this Rock Creek Pharmaceuticals, Inc. 2016 Omnibus Incentive Plan, as may be amended from time
to time.

 

(x) 
“Restricted Stock” means a Share that is subject to a risk of forfeiture or restrictions on transfer, or both
a risk of forfeiture and restrictions on transfer, as described in Section 8.

 

(y) 
“Restricted Stock Unit” means the right to receive a cash payment and/or Shares equal to the Fair Market Value
of one Share that is subject to a risk of forfeiture or restrictions on transfer, or both a risk of forfeiture and restrictions
on transfer, as described in Section 8.

 

(z)  
 “Retirement” means termination of employment or service with the Company and its Affiliates on or after the
date the Participant has both attained age sixty (60) and completed ten (10) years of service with the Company and its Affiliates.

 

(aa)       
“Section 16 Participants” means Participants who are subject to the provisions of Section 16 of the
Exchange Act.

 

(bb)       
“Share” means a share of Stock.

 

(cc)       
“Stock” means the Common Stock, par value $0.0001, of the Company.

 

(dd)       
“Stock Appreciation Right” or “SAR” means the right to receive cash, and/or Shares with a Fair Market
Value, equal to the appreciation of the Fair Market Value of a Share during a specified period of time.

 

(ee)       
“Subsidiary” means any corporation, limited liability company or other limited liability entity in an unbroken
chain of entities beginning with the Company if each of the entities (other than the last entities in the chain) owns the stock
or equity interest possessing more than fifty percent (50%) of the total combined voting power of all classes of stock or other
equity interests in one of the other entities in the chain.

 

    	 	18

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