Document:

Exhibit 4.5

 

EQT CORPORATION

 

as Issuer

 

and

 

THE BANK OF NEW YORK MELLON,

 

as Trustee

_________________

 

TENTH SUPPLEMENTAL INDENTURE

 

Dated
as of January 21, 2020

 

to

 

INDENTURE

 

Dated as of March 18, 2008

_________________

 

7.000% Senior Notes due 2030

 

     

     

    

 

TABLE OF CONTENTS

 

Page

 

	ARTICLE 1.

                                                

                                               DEFINITIONS

	 
	Section 1.1	Definition of Terms	2
	 	 	 
	ARTICLE 2.

                                                

                                               GENERAL TERMS AND CONDITIONS OF THE SENIOR NOTES

	 
	Section 2.1	Designation and Principal Amount	4
	Section 2.2	Maturity	4
	Section 2.3	Further Issues	4
	Section 2.4	Form of Payment	4
	Section 2.5	Global Securities	4
	Section 2.6	Interest	4
	Section 2.7	Reserved	4
	Section 2.8	Authorized Denominations	5
	Section 2.9	Redemption	5
	Section 2.10	Limitation on Liens	5
	Section 2.11	Limitation on Sale and Leaseback Transactions	7
	Section 2.12	Merger, Consolidation and Sale of Assets	8
	Section 2.13	Events of Default	8
	Section 2.14	Appointment of Agents	9
	Section 2.15	Defeasance upon Deposit of Moneys or U.S. Government Obligations	9
	 	 	 
	ARTICLE 3.

                                                                     

                                                                    FORM OF NOTES

	 
	Section 3.1	Form of Senior Notes	10
	 	 	 
	ARTICLE 4.

                                                                     

                                                                    ORIGINAL ISSUE OF NOTES

	 
	Section 4.1	Original Issue of Senior Notes	10
	 	 	 
	ARTICLE 5.

                                                                     

                                                                    MISCELLANEOUS

	 
	Section 5.1	Ratification of Indenture	10
	Section 5.2	Trustee Not Responsible for Recitals	10
	Section 5.3	Governing Law	10
	Section 5.4	Separability	10
	Section 5.5	Counterparts	10
	 	 	 
	Exhibit A – Form of Senior Notes	A-1

 

    i

     

    

 

TENTH SUPPLEMENTAL INDENTURE, dated
as of January 21, 2020 (this “Tenth Supplemental Indenture”), between EQT Corporation, a corporation duly organized
and existing under the laws of the Commonwealth of Pennsylvania, having its principal office at EQT Plaza, 625 Liberty Avenue,
Suite 1700, Pittsburgh, Pennsylvania 15222 (the “Company”), and The Bank of New York Mellon, a New York banking corporation,
as trustee (the “Trustee”).

 

WHEREAS, the Company, as successor,
and the Trustee executed and delivered the indenture, dated as of March 18, 2008 (the “Base Indenture”, as supplemented
by a Second Supplemental Indenture, dated as of June 30, 2008, and by this Tenth Supplemental Indenture, the “Indenture”),
to provide for the issuance of the Company’s debt securities (the “Securities”), to be issued in one or more
series;

 

WHEREAS, pursuant to the terms of the
Base Indenture, the Company desires to provide for the establishment of a new series of its notes under the Base Indenture to be
known as its “7.000% Senior Notes due 2030” (the “Senior Notes”), the form and substance and the terms,
provisions and conditions thereof to be set forth as provided in the Base Indenture and this Tenth Supplemental Indenture;

 

WHEREAS, the Board of Directors of
the Company or the Special Debt Transactions Committee of the Board of Directors of the Company, as applicable, pursuant to resolutions
duly adopted on December 4, 2019, January 12, 2020 and January 15, 2020, has duly authorized the issuance of the Senior Notes,
and has authorized the proper officers of the Company to execute any and all appropriate documents necessary or appropriate to
effect each such issuance;

 

WHEREAS, this Tenth Supplemental Indenture
is being entered into pursuant to the provisions of Section 14.01 of the Base Indenture;

 

WHEREAS, the Company has requested
that the Trustee execute and deliver this Tenth Supplemental Indenture; and

 

WHEREAS, all things necessary to make
this Tenth Supplemental Indenture a valid and legally binding agreement of the Company, in accordance with its terms, and to make
the Senior Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid and legally binding obligations
of the Company, have been performed, and the execution and delivery of this Tenth Supplemental Indenture has been duly authorized
in all respects.

 

NOW THEREFORE, in consideration of
the premises and the purchase and acceptance of the Senior Notes by the Holders thereof, and for the purpose of setting forth,
as provided in the Base Indenture, the forms and terms of the Senior Notes, the Company covenants and agrees, with the Trustee,
as follows:

 

    

     

    

 

ARTICLE
1.

 

DEFINITIONS

 

Section 1.1             Definition of Terms. Unless the context otherwise requires:

 

(a)           each term defined in the Base Indenture has the same meaning when used in this Tenth Supplemental Indenture;

 

(b)           the singular includes the plural and vice versa;

 

(c)           headings are for convenience of reference only and do not affect interpretation; and

 

(d)           a reference to a Section or Article is to a Section or Article of this Tenth Supplemental Indenture unless otherwise
indicated.

 

(e)           The following terms have the meanings given to them in this Section 1.1(e):

 

(i)            “Attributable Debt” in respect of a Sale and Leaseback Transaction means, as of any particular time,
the present value (discounted at the rate of interest implicit in the terms of the lease involved in such Sale and Leaseback Transaction,
as determined in good faith by the Company) of the obligation of the lessee thereunder for net rental payments (excluding, however,
any amounts required to be paid by such lessee, whether or not designated as rent or additional rent, on account of maintenance
and repairs, services, insurance, taxes, assessments, water rates or similar charges and any amounts required to be paid by such
lessee thereunder contingent upon monetary inflation or the amount of sales, maintenance and repairs, insurance, taxes, assessments,
water rates or similar charges) during the remaining term of such lease (including any period for which such lease has been extended
or may, at the option of the lessor, be extended).

 

(ii)           “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks in
New York, New York are authorized or required by law to close.

 

(iii)          “Consolidated Net Tangible Assets” means the aggregate amount of assets of the Company and its consolidated
Subsidiaries (less applicable reserves) after deducting therefrom (x) all goodwill, trade names, trademarks, patents, unamortized
debt discount and expense and other like intangibles and (y) all current liabilities except for current maturities of long-term
debt, current maturities of capitalized lease obligations, indebtedness for borrowed money having a maturity of less than 12 months
from the date of the most recent audited consolidated balance sheet of the Company, but which by its terms is renewable or extendable
beyond 12 months from such date at the option of the borrower and deferred income taxes which are classified as current liabilities,
all as of the end of the most recently completed quarterly accounting period of the Company for which financial information is
available prior to the time as of which “Consolidated Net Tangible Assets” is being determined.

 

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(iv)          “Credit Agreement” means the Second Amended and Restated Credit Agreement, dated as of July 31, 2017,
and effective on or about the date of this Tenth Supplemental Indenture, by and among the Company, as borrower, and the commercial
lending institutions and other parties that are agents and lenders thereunder, as amended, restated, modified, supplemented, extended,
renewed, refunded, replaced or refinanced in whole or in part from time to time with one or more credit facilities or term loans
of the Company or its Subsidiaries.

 

(v)           “Debt” means indebtedness for borrowed money.

 

(vi)          “DTC” shall have the meaning assigned to it in Section 2.5.

 

(vii)         “Event of Default” shall have the meaning assigned to it in Section 2.13.

 

(viii)        “Incurrence Time” shall have the meaning assigned to it in Section 2.10(b).

 

(ix)           “Lien” means any mortgage, pledge, security interest or lien.

 

(x)            “Person” means, except as otherwise provided, any individual, corporation, partnership, joint venture,
trust, unincorporated organization or government or any agency or political subdivision thereof.

 

(xi)           “Principal Property” means any manufacturing plant or production, transportation or marketing facility
or other similar facility located within the United States (other than its territories and possessions) and owned by, or leased
to, the Company or any Restricted Subsidiary, the book value of the real property, plant and equipment of which (as shown, without
deduction of any depreciation reserves, on the books of the owner or owners) is not less than 1.5% of Consolidated Net Tangible
Assets as of the date on which such facility is acquired or a leasehold interest therein is acquired.

 

(xii)          “Restricted Subsidiary” means any Subsidiary substantially all the property of which is located, or substantially
all the business of which is carried on, within the United States (other than its territories and possessions) which shall at the
time, directly or indirectly, through one or more Subsidiaries or in combination with one or more other Subsidiaries or the Company,
own or be a lessee of a Principal Property.

 

(xiii)         “Sale
and Leaseback Transaction” shall have the meaning assigned to it in Section 2.11.

 

(xiv)        “Subsidiary” means, with respect to the Company, a corporation of which more than 50% of the total voting
power of the capital stock entitled (without regard to the occurrence of any contingency) to vote in the election of its directors
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.

 

    3

     

    

 

ARTICLE
2.

 

GENERAL
TERMS AND CONDITIONS OF THE SENIOR NOTES

 

Section 2.1             Designation and Principal Amount. There is hereby authorized and established a new series of Securities under
the Base Indenture, designated as the “7.000% Senior Notes due 2030”, which is not limited in aggregate principal amount.
The initial aggregate principal amount of the Senior Notes to be issued under this Tenth Supplemental Indenture shall be limited
to $750,000,000. Any additional amounts of such series to be issued shall be set forth in a Company Order.

 

Section
2.2             Maturity. The stated maturity of principal for the Senior Notes will
be February 1, 2030 (the “Stated Maturity Date”).

 

Section 2.3             Further Issues. The Company may at any time and from time to time, without notice to or the consent of the
Holders of the Senior Notes, issue additional notes of such series. Any such additional notes will have the same ranking, interest
rate, maturity date and other terms as the Senior Notes. Any such additional notes, together with the Senior Notes herein provided
for, will constitute a single series of Securities under the Indenture; provided, that any such additional notes that are not fungible
with the Senior Notes for U.S. Federal income tax purposes will have a separate CUSIP, ISIN and/or other identifying number, if
applicable, than the Senior Notes.

 

Section
2.4             Form of Payment. Principal of, premium, if any, and interest on the
Senior Notes shall be payable in U.S. dollars.

 

Section 2.5             Global Securities. Upon the original issuance, the Senior Notes will be represented by one or more Global
Securities. The Company will issue the Senior Notes in denominations of $2,000 and in integral multiples of $1,000 in excess thereof
and will deposit the Global Securities with the Trustee as custodian for The Depository Trust Company (“DTC”), in New
York, New York, and register the Global Securities in the name of DTC or its nominee.

 

Section 2.6             Interest. The Senior Notes will bear interest (computed on the basis of a 360-day year consisting of twelve
30-day months) from January 21, 2020 at the rate of 7.000% per annum (subject to adjustment as set forth in the form of Senior
Note attached hereto as Exhibit A under “Interest Rate Adjustment”), payable semiannually in arrears. Interest on the
Senior Notes will be payable on February 1 and August 1 of each year (each, an “Interest Payment Date”), commencing
on August 1, 2020, to the Persons in whose names the Senior Notes are registered at the close of business on the January 15 or
July 15 (whether or not a Business Day), as the case may be, preceding the relevant Interest Payment Date. Interest payable on
each Interest Payment Date will include interest accrued from January 21, 2020 or from the most recent Interest Payment Date to
which interest has been paid or duly provided for.

 

Section 2.7             Reserved.

  

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Section 2.8             Authorized Denominations. The Senior Notes shall be issuable in denominations of $2,000 and in integral multiples
of $1,000 in excess thereof.

 

Section
2.9             Redemption. The Senior Notes are subject to redemption at the option of the Company
as set forth in the form of Senior Note attached hereto as Exhibit A.

 

Section 2.10           Limitation on Liens.

 

(a)           Except as otherwise provided in clauses (i) through (ix) below or in subsection (b) of this section, the Company
shall not, and shall not permit any Restricted Subsidiary to, issue, assume or guarantee any Debt secured by a Lien upon any Principal
Property of the Company or of any Restricted Subsidiary or upon any shares of stock or Debt issued by any Restricted Subsidiary,
whether now owned or hereafter acquired, without in any such case effectively providing that the Senior Notes together with, if
the Company shall so determine, any other indebtedness of or guaranty by the Company or such Restricted Subsidiary then existing
or thereafter created which is not subordinated to the Senior Notes, shall be secured equally and ratably with (or, at the option
of the Company, prior to) such secured Debt, so long as such Debt shall be so secured; provided, however, that nothing in this
Section 2.10 shall prevent, restrict or apply to (and there shall be excluded from secured Debt in any computation under
this Section 2.10) Debt secured by:

 

(i)            Liens on property of, or shares of stock or Debt issued by, any Subsidiary existing at the time such Subsidiary becomes
a Restricted Subsidiary; provided, that such Lien shall not have been incurred in connection with the transfer by the Company or
a Restricted Subsidiary of a Principal Property to such Subsidiary unless the Company, within 180 days of the effective date of
such transfer, applies or causes a Restricted Subsidiary to apply an amount equal to the fair value, as determined by the Company’s
Board of Directors, of such Principal Property at the time of such transfer, to the prepayment or retirement of Senior Notes or
other Debt of the Company (other than Debt subordinated to the Senior Notes), or Debt of any Restricted Subsidiary (other than
Debt owed to the Company or any Restricted Subsidiary), having a stated maturity (x) more than 12 months from the date of such
application or (y) which is extendable at the option of the obligor thereon to a date more than 12 months from the date of such
application;

 

(ii)           Liens on any property, shares of stock or Debt existing at the time of acquisition thereof by the Company or a Restricted
Subsidiary (including acquisition through merger or consolidation) or Liens to secure the payment of all or any part of the purchase
price or construction cost thereof or securing any Debt incurred prior to, at the time of, or within 180 days after, the acquisition
of such property, shares of stock or Debt or the completion of any such construction, whichever is later, for the purpose of financing
all or any part of the purchase price or construction cost thereof;

 

(iii)          Liens on any property to secure all or any part of the cost of development, construction, alteration, repair or improvement
of all or any portion of such property, or to secure Debt incurred prior to, at the time of, or within 180 days after, the completion
of such development, construction, alteration, repair or improvement, whichever is later, for the purpose of financing all or any
part of such cost;

 

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(iv)          Liens which secure Debt owed by a Restricted Subsidiary to the Company or to another Restricted Subsidiary or by
the Company to a Restricted Subsidiary so long as the Debt is held by the Company or a Restricted Subsidiary;

 

(v)           Liens securing indebtedness of a corporation or other Person which becomes a successor of the Company in accordance
with the provisions of Section 6.04 of the Base Indenture and Section 2.12 hereof other than Debt incurred by such corporation
or other Person in connection with a consolidation, merger or sale of assets in accordance with Section 6.04 of the Base Indenture
and Section 2.12 hereof;

 

(vi)          Liens on property of the Company or a Restricted Subsidiary in favor of the United States or any state thereof, or
any department, agency or instrumentality or political subdivision of the United States or any state thereof, or in favor of any
other country or any political subdivision thereof, to secure partial, progress, advance or other payments pursuant to any contract
or statute or to secure any indebtedness incurred or guaranteed for the purpose of financing all or any part of the purchase price
or the cost of construction, alteration, repair or improvement of the property subject to such Liens (including but not limited
to Liens incurred in connection with pollution control, industrial revenue or similar financing), or in favor of any trustee or
mortgagee for the benefit of holders of indebtedness of any such entity incurred for any such purpose;

 

(vii)         Liens securing Debt which is payable, both with respect to principal and interest, solely out of the proceeds of
oil, gas, coal or other minerals to be produced from the property subject thereto and to be sold or delivered by the Company or
a Subsidiary, including any interest of the character commonly referred to as a “production payment”;

 

(viii)        Liens created or assumed by a Subsidiary on oil, gas, coal or other mineral property, owned or leased by a Subsidiary,
to secure Debt of such Subsidiary for the purpose of developing such property, including any interest of the character commonly
referred to as a “production payment”; provided, however, that neither the Company nor any Subsidiary shall assume
or guarantee such Debt or otherwise be liable in respect thereof; and

 

(ix)           any extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part,
of any Lien referred to in the foregoing clauses (i) to (viii), inclusive, or of any Debt secured thereby; provided, that such
extension, renewal or replacement Lien shall be limited to all or any part of the same property that secured the Lien extended,
renewed or replaced (plus any improvements and construction on such property), or to other property of the Company or its Restricted
Subsidiaries not subject to the limitations of this Section 2.10, and shall secure no larger amount of Debt than that which
had been so secured at the time of such extension, renewal or replacement (plus any premium or fee payable in connection therewith)
and, in the case of clause (iv), that the Debt being secured thereby is being secured for the same type of Person as the Debt being
replaced.

 

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(b)           Notwithstanding the foregoing provisions of this Section 2.10, the Company and any one or more Restricted
Subsidiaries may issue, assume or guarantee Debt secured by a Lien without equally and ratably securing the Senior Notes if at
the time of such issuance, assumption or guarantee (the “Incurrence Time”) the aggregate amount of such Debt plus all
other Debt of the Company and its Restricted Subsidiaries secured by Liens (other than Debt permitted to be secured under clauses
(i) through (ix) above) which would otherwise be subject to the foregoing restrictions after giving effect to the retirement of
any Debt which is concurrently being retired, plus the aggregate Attributable Debt (determined as of the Incurrence Time) of Sale
and Leaseback Transactions (other than Sale and Leaseback Transactions permitted by subsections (a) and (b) of Section 2.11)
entered into after the date of this Tenth Supplemental Indenture and in existence at the Incurrence Time (less the aggregate amount
of proceeds of such Sale and Leaseback Transactions which shall have been applied in accordance with subsection (c) of Section
2.11), does not exceed the greater of (i) $2.5 billion and (ii) 15% of Consolidated Net Tangible Assets; provided that to the
extent the aggregate amount of any such Debt exceeds clause (ii) above but does not exceed clause (i), such incremental amount
of Debt may only be Debt under the Credit Agreement.

 

Section 2.11          Limitation on Sale and Leaseback Transactions. The Company shall not, and shall not permit any Restricted
Subsidiary to, enter into any arrangement after the date of this Tenth Supplemental Indenture with any bank, insurance company
or other lender or investor (other than the Company or another Restricted Subsidiary) providing for the leasing as lessee by the
Company or a Restricted Subsidiary of any Principal Property (except a lease for a term not to exceed three years by the end of
which term it is intended that the use of such Principal Property by the lessee will be discontinued and a lease which secures
or relates to industrial revenue or pollution control bonds or similar financing), which was or is owned by the Company or a Restricted
Subsidiary and which has been or is to be sold or transferred by the Company or a Restricted Subsidiary to such Person, more than
180 days after the completion of construction and commencement of full operation of such property by the Company or such Restricted
Subsidiary, to such lender or investor or to any Person to whom funds have been or are to be advanced by such lender or investor
on the security of such Principal Property (herein called a “Sale and Leaseback Transaction”) unless:

 

(a)           the Company or such Restricted Subsidiary would, at the time of entering into such arrangement, be entitled pursuant
to clauses (i) through (ix) of subsection (a) of Section 2.10, without equally and ratably securing the Senior Notes, to
issue, assume or guarantee Debt secured by a Lien on such Principal Property in the amount of the Attributable Debt arising from
such Sale and Leaseback Transaction;

 

(b)           the Attributable Debt of the Company and its Restricted Subsidiaries in respect of such Sale and Leaseback Transaction
and all other Sale and Leaseback Transactions entered into after the date of this Tenth Supplemental Indenture (other than such
Sale and Leaseback Transactions as are permitted by subsection (a) or (c) of this Section 2.11), plus the aggregate principal
amount of Debt secured by Liens on Principal Properties then outstanding (not including any such Debt secured by Liens described
in clauses (i) through (ix) of subsection (a) of Section 2.10) which do not equally and ratably secure the Senior Notes,
would not exceed 15% of Consolidated Net Tangible Assets; or

 

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(c)           the Company, within 180 days after any such sale or transfer, applies or causes a Restricted Subsidiary to apply
an amount equal to the greater of the net proceeds of such sale or transfer or the fair value, as determined by the Company’s
Board of Directors, of the Principal Property so sold and leased back at the time of entering into such Sale and Leaseback Transaction
to either (or a combination of) (A) the prepayment or retirement of Senior Notes or other Debt of the Company (other than Debt
subordinated to the Senior Notes), or Debt of any Restricted Subsidiary (other than Debt owed to the Company or any Restricted
Subsidiary), or (B) the purchase, construction or development of other property used or useful in the business of the Company .

 

Notwithstanding the foregoing, where the Company
or any Restricted Subsidiary is the lessee in any Sale and Leaseback Transaction, Attributable Debt shall not include any Debt
resulting from the guarantee by the Company or any other Restricted Subsidiary of the lessee’s obligation thereunder.

 

Section 2.12           Merger, Consolidation and Sale of Assets. In addition to the covenants provided in Section 6.04 of the Base
Indenture, the Company will not consolidate or merge with or into any other entity, or sell other than for cash or lease its assets
substantially as an entirety to another entity, or purchase the assets of another entity substantially as an entirety, if, as a
result of any such consolidation, merger, sale, lease or purchase, properties or assets of the Company would become subject to
a lien which would not be permitted by the Indenture, unless the Company or such successor Person, as the case may be, takes such
steps as are necessary to effectively secure the Senior Notes equally and ratably with (or prior to) all indebtedness secured thereby.

 

Section 2.13           Events of Default. The term “Event of Default” with respect to the Senior Notes shall mean only:

 

(a)           the failure of the Company to pay any installment of interest on the Senior Notes when and as the same shall become
payable, which failure shall have continued unremedied for a period of 30 days;

 

(b)           the failure of the Company to pay the principal of (and premium, if any, on) the Senior Notes, when and as the same
shall become payable, whether at maturity or by call for redemption;

 

(c)           the failure of the Company, subject to the provisions of Section 6.06 of the Base Indenture, to perform any covenants
or agreements contained in the Indenture (other than a covenant or agreement which has been expressly included in the Indenture
solely for the benefit of a series of Securities other than the Senior Notes and other than a covenant or agreement a default in
the performance of which is specifically addressed elsewhere in this Section 2.13), which failure shall not have been remedied,
or without provision deemed to be adequate for the remedying thereof having been made, for a period of 90 days after written notice
shall have been given to the Company by the Trustee or shall have been given to the Company and the Trustee by Holders of 25% or
more in aggregate principal amount of the Senior Notes then Outstanding, specifying such failure, requiring the Company to remedy
the same and stating that such notice is a “Notice of Default” hereunder;

 

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(d)           default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured
or evidenced any indebtedness for money borrowed by the Company or any Subsidiary in an aggregate principal amount in excess of
$200,000,000 whether such indebtedness now exists or shall hereafter be created, which default shall constitute a failure to pay
any portion of the principal of such indebtedness when due and payable after the expiration of any applicable grace period with
respect thereto or shall have resulted in such indebtedness becoming or being declared due and payable prior to the date on which
it would otherwise have become due and payable, without such indebtedness having been discharged, or such acceleration having been
rescinded or annulled, which continues for a period of 30 days after written notice shall have been given to the Company by the
Trustee or shall have been given to the Company and the Trustee by Holders of 25% or more in aggregate principal amount of the
Senior Notes then Outstanding, specifying such default, requiring the Company to remedy the same and stating that such notice is
a “Notice of Default” hereunder;

 

(e)           the entry by a court having jurisdiction in the premises of a decree or order for relief in respect of the Company
in an involuntary case under the federal bankruptcy laws, as now or hereafter constituted, or any other applicable federal or state
bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian,
trustee or sequestrator (or similar official) of the Company or of substantially all the property of the Company or ordering the
winding-up or liquidation of its affairs and such decree or order shall remain unstayed and in effect for a period of 90 consecutive
days; or

 

(f)            the commencement by the Company of a voluntary case under the federal bankruptcy laws, as now or hereafter constituted,
or any other applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent
by the Company to the entry of an order for relief in an involuntary case under any such law, or the consent by the Company to
the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian or sequestrator (or similar official)
of the Company or of substantially all the property of the Company 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 action; provided, however, that no event described in clause (c) or (d) above shall constitute
an Event of Default hereunder until a Responsible Officer assigned to and working in the Trustee’s corporate trust department
has actual knowledge thereof or until a written notice of any such event is received by the Trustee at the Corporate Trust Office,
and such notice refers to the facts underlying such event, the Senior Notes generally, the Company and the Indenture.

 

Section 2.14           Appointment of Agents. The Trustee will initially be the Registrar and Paying Agent for the Senior Notes.

 

Section 2.15           Defeasance upon Deposit of Moneys or U.S. Government Obligations. At the Company’s option, either (a)
the Company shall be deemed to have been Discharged from its obligations with respect to the Senior Notes on the first day after
the applicable conditions set forth in Section 12.03 of the Base Indenture have been satisfied or (b) the Company shall cease
to be under any obligation to comply with any term, provision or condition set forth in Section 6.04 of the Base Indenture and
Sections 2.10, 2.11 and 2.12 with respect to the Senior Notes at any time after the applicable conditions set forth in Section
12.03 of the Base Indenture have been satisfied.

 

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ARTICLE
3.

 

FORM
OF NOTES

 

Section 3.1             Form of Senior Notes. The Senior Notes and the Trustee’s Certificate of Authentication to be endorsed
thereon are to be substantially in the form set forth in Exhibit A hereto.

 

ARTICLE
4.

 

ORIGINAL
ISSUE OF NOTES

 

Section 4.1             Original Issue of Senior Notes. The Senior Notes may, upon execution of this Tenth Supplemental Indenture,
be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall, upon Company order, authenticate
and deliver such Senior Notes as in such Company order provided.

 

ARTICLE
5.

 

MISCELLANEOUS

 

Section 5.1             Ratification of Indenture. The Base Indenture, as supplemented by this Tenth Supplemental Indenture, is in
all respects ratified and confirmed, and this Tenth Supplemental Indenture shall be deemed part of the Base Indenture in the manner
and to the extent herein and therein provided; provided that the provisions of this Tenth Supplemental Indenture apply solely with
respect to the Senior Notes.

 

Section 5.2             Trustee Not Responsible for Recitals. The recitals herein contained are made by the Company and not by the
Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity
or sufficiency of this Tenth Supplemental Indenture.

 

Section 5.3             Governing Law. This Tenth Supplemental Indenture and each Senior Note shall be deemed to be contracts made
under the law of the State of New York, and for all purposes shall be governed by and construed in accordance with the law of said
State.

 

Section 5.4             Separability. In case any provision in this Indenture or in the Senior Notes 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 5.5             Counterparts. This Tenth Supplemental Indenture may be executed in any number of counterparts, each of which
shall be an original; but such counterparts shall together constitute but one and the same instrument.

 

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

 

	 	EQT CORPORATION
	 	 
	 	 
		By:	/s/ David
M. Khani
		 	Name:	David
M. Khani
		 	Title:	Chief Financial Officer

 

	 	THE BANK OF NEW YORK MELLON,

 as Trustee
	 	 
	 	 
	 	By:	/s/ Latoya S. Elvin
	 	 	Name:	Latoya S. Elvin
	 	 	Title:	Vice President

 

[Signature Page to Tenth Supplemental Indenture]

 

     

     

    

 

EXHIBIT A

 

[FORM OF FACE OF SECURITY]

 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE
OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE
DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY
SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH
OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

    A-1

     

    

 

CUSIP No. 26884L AG4

 

EQT CORPORATION

 

7.000% SENIOR NOTE DUE 2030

 

	No. R-[__]	$[__]
	 	 
	 	 
	 	As revised by the Schedule of Increases or Decreases in Global Security attached hereto

 

Interest. EQT Corporation, a corporation
duly organized and existing under the laws of the Commonwealth of Pennsylvania (herein called the “Company”, which
term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
Cede & Co. or registered assigns, the principal sum of [__] dollars ($[__]), as revised by the Schedule of Increases or Decreases
in Global Security attached hereto, on February 1, 2030 and to pay interest thereon (computed on the basis of a 360-day year consisting
of twelve 30-day months) from January 21, 2020 or from the most recent Interest Payment Date to which interest has been paid or
duly provided for, semi-annually in arrears on February 1 and August 1 in each year, commencing August 1, 2020 at the rate of 7.000%
per annum, until the principal hereof is paid or made available for payment.

 

Interest Rate Adjustment. The interest
rate payable on this 7.000% Senior Note due 2030 (this “Security”) will be subject to adjustment from time to time
if either Moody’s, S&P or Fitch, or, in any case, any Substitute Rating Agency downgrades (or subsequently upgrades)
the credit rating assigned to the Senior Notes, in the manner described below.

 

If the rating from Moody’s (or any Substitute
Rating Agency) of the Senior Notes is decreased to a rating set forth in the immediately following table, the interest rate on
this Security will increase such that it will equal the interest rate first set forth on the face of this Security plus the percentage
set forth opposite the ratings from the table below (plus, if applicable, the percentage set forth opposite the rating in the table
under each of “S&P Rating” and “Fitch Rating”):

 

	Moody’s Rating*
 	 	Percentage
 	 
	Ba2	 	 	0.25	%
	Ba3	 	 	0.50	%
	B1	 	 	0.75	%
	B2 or below	 	 	1.00	%
	 	 	 	 	 
	* including the equivalent ratings of any
Substitute Rating Agency.	 

 

    A-2

     

    

 

If the rating from S&P (or any Substitute
Rating Agency) of the Senior Notes is decreased to a rating set forth in the immediately following table, the interest rate on
this Security will increase such that it will equal the interest rate first set forth on the face of this Security plus the percentage
set forth opposite the ratings from the table below (plus, if applicable, the percentage set forth opposite the rating in the table
under each of “Moody’s Rating” and “Fitch Rating”):

 

	S&P Rating*
 	 	Percentage
 	 
	BB+ 	 	 	0.25	%
	BB 	 	 	0.50	%
	BB- 	 	 	0.75	%
	B+ or below 	 	 	1.00	%
	 	 	 	 	 
	* including the equivalent ratings of any
Substitute Rating Agency.	 

 

If the rating from Fitch (or any Substitute
Rating Agency) of the Senior Notes is decreased to a rating set forth in the immediately following table, the interest rate on
this Security will increase such that it will equal the interest rate first set forth on the face of this Security plus the percentage
set forth opposite the ratings from the table below (plus, if applicable, the percentage set forth opposite the rating in the table
under each of “Moody’s Rating” and “S&P Rating”):

 

	Fitch Rating*
	 	Percentage
 	 
	BB+ 	 	 	0.25	%
	BB 	 	 	0.50	%
	BB- 	 	 	0.75	%
	B+ or below 	 	 	1.00	%
	 	 	 	 	 
	* including the equivalent ratings of any
Substitute Rating Agency.	 

 

If at any time the interest rate on the Senior
Notes has been adjusted upward and any of Moody’s, S&P or Fitch (or, in any such case, a Substitute Rating Agency), as
the case may be, subsequently increases its rating of the Senior Notes to any of the threshold ratings set forth above, the interest
rate on this Security shall be decreased such that the interest rate for this Security shall equal the interest rate first set
forth on the face of this Security plus the percentages set forth opposite the ratings in the tables above in effect immediately
following the increase in rating. If Moody’s (or any Substitute Rating Agency) subsequently increases its rating of the Senior
Notes to Ba1 (or its equivalent, in the case of a Substitute Rating Agency) or higher, S&P (or any Substitute Rating Agency)
increases its rating to BBB- (or its equivalent, in the case of a Substitute Rating Agency) or higher and Fitch (or any Substitute
Rating Agency) increases its rating to BBB- (or its equivalent, in the case of a Substitute Rating Agency) or higher, the interest
rate on this Security will be decreased to the interest rate first set forth on the face of this Security. In addition, the interest
rate on this Security will permanently cease to be subject to any adjustment described above (notwithstanding any subsequent decrease
in the ratings by any or all Rating Agencies) if the Senior Notes become rated Baa2, BBB and BBB (or the equivalent of any such
rating, in the case of a Substitute Rating Agency) or higher by any two of Moody’s, S&P and Fitch (or, in any case, a
Substitute Rating Agency thereof), respectively.

 

    A-3

     

    

 

Each adjustment required by any decrease or
increase in a rating set forth above, whether occasioned by the action of Moody’s, S&P or Fitch (or, in any case, a Substitute
Rating Agency), shall be made independent of any and all other adjustments; provided, however, that in no event shall (1)
the interest rate for this Security be reduced to below the interest rate first set forth on the face of this Security or (2) the
total increase in the interest rate on this Security exceed 2.00% above the interest rate first set forth on the face of this Security.

 

No adjustments in the interest rate of this
Security shall be made solely as a result of a Rating Agency ceasing to provide a rating of the Senior Notes. If at any time Moody’s,
S&P or Fitch ceases to provide a rating of the Senior Notes for any reason, the Company will use its commercially reasonable
efforts to obtain a rating of the Senior Notes from a Substitute Rating Agency, to the extent one exists, and if a Substitute Rating
Agency exists, for purposes of determining any increase or decrease in the interest rate on this Security pursuant to the tables
above, (a) such Substitute Rating Agency will be substituted for the last Rating Agency to provide a rating of the Senior Notes
but which has since ceased to provide such rating, (b) the relative rating scale used by such Substitute Rating Agency to assign
ratings to senior unsecured debt will be determined in good faith by an Independent Investment Banker or any other independent
investment banking institution of national standing appointed by the Company and, for purposes of determining the applicable ratings
included in the applicable table above with respect to such Substitute Rating Agency, such ratings will be deemed to be the equivalent
ratings used by Moody’s, S&P or Fitch, as applicable, in such table and (c) the interest rate on this Security will increase
or decrease, as the case may be, such that the interest rate equals the interest rate first set forth on the face of this Security
plus the appropriate percentage, if any, set forth opposite the rating from such Substitute Rating Agency in the applicable table
above (taking into account the provisions of clause (b) above) (plus any applicable percentage resulting from a decreased rating
by the other Rating Agency). For so long as only one of Moody’s, S&P or Fitch provides a rating of the Senior Notes and
no Substitute Rating Agency has replaced the other Rating Agency, any subsequent increase or decrease in the interest rate of this
Security necessitated by a reduction or increase in the rating by the Rating Agency providing the rating shall be twice the percentage
set forth in the applicable table above. For so long as any two of Moody’s, S&P or Fitch provide a rating of the Senior
Notes and no Substitute Rating Agencies have replaced the other Rating Agencies, any subsequent increase or decrease in the interest
rate of this Security necessitated by a reduction or increase in the ratings by the Rating Agencies providing the ratings shall
be as set forth in the applicable tables above. For so long as none of Moody’s, S&P, Fitch or a Substitute Rating Agency
provides a rating of the Senior Notes, the interest rate on this Security will increase to, or remain at, as the case may be, 2.00%
above the interest rate first set forth on the face of this Security.

 

Any interest rate increase or decrease described
above will take effect from the first day of the interest period commencing after the date on which a rating change occurs that
requires an adjustment in the interest rate. As such, interest will not accrue at such increased or decreased rate until the next
interest payment date following the date on which a rating change occurs. If Moody’s, S&P or Fitch (or, in any case,
a Substitute Rating Agency) changes its rating of the Senior Notes more than once during any particular interest period, the last
change in such interest period by such Rating Agency will control for purposes of any interest rate increase or decrease with respect
to this Security described above relating to such Rating Agency’s action. If the interest rate payable on this Security is
increased as described above, the term “interest,” as used with respect to the Senior Notes and this Security, will
be deemed to include any such additional interest unless the context otherwise requires.

 

    A-4

     

    

 

The Company shall promptly provide an officer’s
certificate to the Trustee and the Paying Agent on becoming aware of any decrease in the rating assigned to the Senior Notes by
any of Moody’s, S&P or Fitch (or any Substitute Rating Agency). Neither the Trustee nor the Paying Agent shall have any
obligation to monitor the rating assigned to the Senior Notes.

 

For purposes of this “Interest Rate
Adjustment” section, the following definitions are applicable:

 

“Fitch” means Fitch Ratings, Inc.
and any successor to its rating agency business.

 

“Moody’s” means Moody’s
Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors.

 

“Rating Agencies” means each of
Moody’s, S&P and Fitch; provided, that if any of Moody’s, S&P or Fitch ceases to rate the Senior Notes or fails
to make a rating of the Senior Notes publicly available, then “Rating Agencies” shall include the applicable Substitute
Rating Agency in lieu of Moody’s, S&P or Fitch, or any of them, as the case may be.

 

“S&P” means Standard &
Poor’s Ratings Services, a division of McGraw Hill Financial, Inc., and its successors.

 

“Substitute Rating Agency” means,
in the Company’s discretion at any time and from time to time, any other “nationally recognized statistical rating
organization,” within the meaning of Section 3(a)(62) of the Securities Exchange Act of 1934, as amended, selected by the
Company (as certified to the Trustee by a certificate of a responsible officer of the Company) as a replacement agency for Moody’s,
S&P or Fitch, or any of them, as the case may be.

 

Method of Payment. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to
the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the January
15 or July 15 (whether or not a Business Day), as the case may be, preceding the relevant Interest Payment Date (the “Record
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 thereof having been given to the Holder of this Security (or one or more Predecessor Securities) not less than 10 days prior
to such Special Record Date, all as more fully provided in the Indenture. Payment of the principal of (and premium, if any) and
any such interest on this Security will be made at the Corporate Trust Office in U.S. Dollars.

 

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.

 

Authentication. Unless the certificate
of authentication hereon 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.

 

    A-5

     

    

 

IN WITNESS WHEREOF, the Company has caused
this instrument to be executed by its duly authorized officer.

 

	January 21, 2020 	EQT CORPORATION  
	 	 
	 	 
	 	By:	 
	 	 	Name: 	David M. Khani
	 	 	Title: 	Chief Financial Officer  

 

    A-6

     

    

 

	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	 
	Dated: January 21, 2020
	 
	THE BANK OF NEW YORK MELLON
	 
	as Trustee, certifies
	that this is one of
	the Securities referred
	to in the Indenture.
	 
	 
	By:	 	 
	 	Authorized Signatory	 

 

    A-7

     

    

 

[FORM OF REVERSE OF SECURITY]

 

Indenture. This Security is one of
a duly authorized issue of securities of the Company, issued and to be issued in one or more series under an Indenture, dated as
of March 18, 2008, between EQT Corporation (the “Company”), as successor, and The Bank of New York Mellon, as trustee
(herein called the “Trustee”, which term includes any successor trustee under the Indenture), as supplemented and amended
by a Second Supplemental Indenture, dated June 30, 2008, and by a Tenth Supplemental Indenture, dated January 21, 2020 (as so supplemented,
herein called the “Indenture”), between the Company and the Trustee, to which Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder
of the Company, the Trustee and the Holders of the Senior Notes and of the terms upon which the Senior Notes are, and are to be,
authenticated and delivered. This Security is one of the series designated on the face hereof, initially in aggregate principal
amount of $750,000,000.

 

Optional Redemption. The Senior Notes
are subject to redemption at the Company’s option, at any time and from time to time prior to the Stated Maturity Date, in
whole or in part.

 

If any of the Senior Notes are redeemed prior
to the Par Call Date, the Redemption Price will be equal to the greater of (i) 100% of the principal amount of the Senior Notes
to be redeemed plus accrued and unpaid interest thereon to the Redemption Date, and (ii) the sum of the present values of the remaining
scheduled payments of principal and interest on the Senior Notes to be redeemed (assuming that such Senior Notes matured on the
Par Call Date) exclusive of interest accrued to, but excluding, the Redemption Date, discounted to the Redemption Date on a semiannual
basis (assuming a 360-day year consisting of twelve 30 day months) at the applicable Treasury Rate plus 50 basis points plus accrued
and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date.

 

If any of the Senior Notes are redeemed on
or after the Par Call Date, the Redemption Price will be 100% of the principal amount of the Senior Notes to be redeemed plus accrued
and unpaid interest thereon to, but excluding, the Redemption Date.

 

For purposes of determining the Redemption
Price for the optional redemption of the Senior Notes, the following definitions are applicable:

 

“Comparable Treasury Issue” means
the U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of
the Senior Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing
new issues of corporate debt securities of comparable maturity to the remaining terms of the Senior Notes.

 

“Comparable Treasury Price” means,
with respect to any Redemption Date:

 

(a)              
the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and
lowest Reference Treasury Dealer Quotations, or

 

    A-8

     

    

 

(b)              
if the Independent Investment Banker is unable to obtain at least four such Reference Treasury Dealer Quotations,
the average of all Reference Treasury Dealer Quotations obtained by the Independent Investment Banker.

 

“Independent Investment Banker”
means one of BofA Securities, Inc. and J.P. Morgan Securities LLC as specified by the Company, or if these firms are unwilling
or unable to select the applicable Comparable Treasury Issue, an independent investment banking institution of national standing
appointed by the Company.

 

“Par Call Date” means November
1, 2029 (three months prior to the Stated Maturity Date).

 

“Reference Treasury Dealer” means
(i) BofA Securities, Inc. and J.P. Morgan Securities LLC (and their respective successors), provided however, that if either of
the foregoing shall cease to be a primary U.S. government securities dealer (a “Primary Treasury Dealer”), the Company
will substitute therefor another Primary Treasury Dealer and (ii) any other Primary Treasury Dealer selected by the Company.

 

“Reference Treasury Dealer Quotations”
means, with respect to each Reference Treasury Dealer and any Redemption Date for the Senior Notes, an average, as determined by
the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue for the Senior Notes (expressed
in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New
York City time, on the third Business Day preceding such Redemption Date.

 

“Treasury Rate” means, with respect
to any Redemption Date for the Senior Notes, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable
Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for that Redemption Date.

 

The Treasury Rate will be calculated on the
third Business Day preceding the Redemption Date.

 

Notice of any redemption will be mailed, or
delivered electronically if such Senior Notes are held by any Depositary (including, without limitation, DTC) in accordance with
such Depositary’s customary procedures, at least 15 days but not more than 60 days before the Redemption Date to each registered
Holder of Senior Notes to be redeemed. Unless the Company defaults in payment of the Redemption Price, on and after the Redemption
Date, interest will cease to accrue on the Senior Notes or portions of the Senior Notes called for redemption. If fewer than all
of the Senior Notes are to be redeemed, the particular Senior Notes or portions thereof will be selected for redemption from the
Outstanding Senior Notes not previously called in accordance with applicable DTC procedures.

 

Defaults and Remedies. If an Event
of Default with respect to the Senior Notes shall occur and be continuing, the principal of the Senior Notes may be declared due
and payable in the manner and with the effect provided in the Indenture.

 

    A-9

     

    

 

Amendment, Modification and Waiver.
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 Senior Notes to be affected under the Indenture at any time by
the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Senior Notes at
the time Outstanding. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount
of the Senior Notes at the time Outstanding, on behalf of the Holders of all Senior Notes, 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.

 

Denominations, Transfer and Exchange.
The Senior Notes are issuable only in registered form without coupons in denominations of $2,000 and in integral multiples of $1,000
in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Senior Notes are exchangeable
for a like aggregate principal amount of Senior Notes of like tenor of a different authorized denomination, as requested by the
Holder surrendering the same.

 

As provided in the Indenture and subject to
certain limitations therein set forth, the transfer of this Security is registrable in the Register, upon surrender of this Security
for registration of transfer at the Registrar accompanied by a written request for transfer in form satisfactory to the Company
and the Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new
Senior Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated
transferee or transferees.

 

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.

 

Persons Deemed Owners. 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.

 

Miscellaneous. The Indenture and this
Security shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflicts
of law rules of said State.

 

All terms used in this Security and not defined
herein shall have the meanings assigned to them in the Indenture.

 

    A-10

     

    

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
SECURITY

 

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

 

	Date of
 Exchange	 	 	Amount of
 increase in
 Principal
 Amount of this
 Global Security	 	Amount of
 decrease in
 Principal
 Amount of this
 Global Security	 	Principal
 Amount of this
 Global Security
 following each
 decrease or
 increase	 	Signature of
 authorized
 signatory of
 Trustee
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    A-11Member of the Firm

 

SECURITIES PURCHASE AGREEMENT

 

 

THIS PURCHASE AGREEMENT (“Agreement”) is made as of the 14th day of January, 2020 by and between Appiphany Technologies Holdings, Corp., (the “Company”), and GHS Investments, LLC (the “Investor”). 

Recitals

 

A.The Investor wishes to purchase from the Company and the Company wishes to sell and issue to the Investor, upon the terms and conditions stated in this Agreement, a Promissory Note in the original principal amount of $35,000 (“Note”).: 

  

 

In consideration of the mutual promises made herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.Definitions.  In addition to those terms defined above and elsewhere in this Agreement, for the purposes of this Agreement, the following terms shall have the meanings set forth below: 

 

“Affiliate” means, with respect to any Person, any other Person which directly or indirectly through one or more intermediaries  

controls, is controlled by, or is under common control with, such Person.

 

“Business Day” means a day, other than a Saturday or Sunday, on which banks in New York City are open for the general transaction of business.
  

 

“Common Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible into or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock. 

 

“Company’s Knowledge” means the actual knowledge of the executive officers (as defined in Rule 405 under the 1933 Act) of the Company, after due inquiry. 

 

“Confidential Information” means trade secrets, confidential information and know-how (including but not limited to ideas, formulae, compositions, processes, procedures and techniques, research and development information, computer program code, performance specifications, support documentation, drawings, specifications, designs, business and marketing plans, and customer and supplier lists and related information). 

1

“Control” (including the terms “controlling”, “controlled by” or “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 

 

“Intellectual Property” means all of the following: (i) patents, patent applications, patent disclosures and inventions (whether or not patentable and whether or not reduced to practice); (ii) trademarks, service marks, trade dress, trade names, corporate names, logos, slogans and Internet domain names, together with all goodwill associated with each of the foregoing; (iii) copyrights and copyrightable works; (iv) registrations, applications and renewals for any of the foregoing; and (v) proprietary computer software (including but not limited to data, data bases and documentation). 

 

“Material Adverse Effect” means a material adverse effect on (i) the assets, liabilities, results of operations, condition (financial or otherwise), business, or prospects of the Company and its Subsidiaries taken as a whole, or (ii) the ability of the Company to perform its obligations under the Transaction Documents. 

 

“Person” means an individual, corporation, partnership, limited liability company, trust, business trust, association, joint stock company, joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically listed herein. 

 

“Purchase Price” means $35,000, which includes $30,000 in proceeds payable to the Company, $3,000 representing a 10% original issuance discount on the Note and $2,000 being withheld by the Investor to offset transaction costs. 

 

“SEC” means the United States Securities and Exchange Commission. 

 

“Securities” means the Note and the common shares issuable at conversion. 

 

“Subsidiary” of any Person means another Person, an amount of the voting securities, other voting ownership or voting partnership interests of which is sufficient to elect at least a majority of its Board of Directors or other governing body (or, if there are no such voting interests, 50% or more of the equity interests of which) is owned directly or indirectly by such first Person. 

 

“Transaction Documents” means this Agreement, the Note, the Company Representation Letter, and supporting documents. 

 

“1933 Act” means the Securities Act of 1933, as amended, or any successor statute, and the rules and regulations promulgated thereunder. 

 

“1934 Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations promulgated thereunder. 

2

 

2.Purchase and Sale of the Securities.  Subject to the terms and conditions of this Agreement, the Company shall sell and issue to the Investor the Note.  

2.1Security.  As Security for the Company's obligations contained herein and in all Notes issued by the Company to the Holder, following any Event of Default which remains uncured for one hundred twenty (120) calendar days, the Holder shall be granted an unconditional first priority interest in and to, any and all property of the Company and its subsidiaries, of any kind or description, tangible or intangible, whether now existing or hereafter arising or acquired until the balance of all Notes has been reduced to $0.  "Any and all property," as described herein shall be inclusive of, but not limited to, assets reported by the Company on its SEC filings, cash, inventory, accounts receivable, intellectual property rights, equipment and property. The Investor is authorized to make all filings the Investor, in its discretion, deems necessary to evidence its security interests. 
 

3.Closing.  Upon confirmation that the other conditions to closing specified herein have been satisfied or duly waived by the Investor, the Company shall deliver to the Investor, a Note registered the name of the Investor and the Investor shall cause a wire transfer in same day funds to be sent to the account of the Company as instructed in writing by the Company, in an amount representing the Purchase Price for the Note (the “Closing Date”). The parties hereto acknowledge that Investor made a wire transfer in the amount of thirty thousand dollars ($30,000) on or about December 22, 2019 ("Initial Tranche"). 

 

4.Representations and Warranties of the Company.  The Company hereby represents and warrants to the Investor that, except as set forth in the schedules delivered herewith (collectively, the “Disclosure Schedules”) and as disclosed in the Company’s SEC Filings: 

 

4. 1Organization, Good Standing and Qualification.  Each of the Company and its Subsidiaries is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation and has all requisite corporate power and authority to carry on its business as now conducted and to own its properties.  Each of the Company and its Subsidiaries is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property makes such qualification or leasing necessary unless the failure to so qualify has not and could not reasonably be expected to have a Material Adverse Effect.  The Company’s Subsidiaries are listed on the Company’s public disclosures filed with the SEC. 

 

4.2Authorization.  The Company has full power and authority and, has taken all requisite action on the part of the Company, its officers, directors and stockholders necessary for (i) the authorization, execution and delivery of the Transaction Documents, (ii) authorization of the performance of all obligations of the Company hereunder or thereunder, and (iii) the authorization, issuance (or reservation for issuance) and delivery of the Securities.  The Transaction Documents constitute the legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, subject to bankruptcy,  

3

insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability, relating to or affecting creditors’ rights generally.

 

4.3Capitalization.  As of the date hereof, the authorized common stock of the Company on the date hereof is 5,000,000,000; (b) the number of shares of capital stock issued and outstanding as of January 3, 2020 is 174,289,717 ; (c) the number of shares of capital stock issuable pursuant to the Company’s stock plans is zero; and (d) the number of shares of capital stock issuable and reserved for issuance pursuant to securities (other than the Securities) exercisable for, or convertible into or exchangeable for any shares of capital stock of the Company as of  January 6, 2020 are only the shares issued in connection with the conversion of the Note.  All of the issued and outstanding shares of the Company’s capital stock have been duly authorized and validly issued and are fully paid, nonassessable and free of pre-emptive rights.  All of the issued and outstanding shares of capital stock of each Subsidiary have been duly authorized and validly issued and are fully paid, nonassessable and free of pre-emptive rights, were issued in full compliance with applicable state and federal securities law and any rights of third parties and are owned by the Company, beneficially and of record, subject to no lien, encumbrance or other adverse claim.  No Person is entitled to pre-emptive or similar statutory or contractual rights with respect to any securities of the Company.  Other than described herein and in the Company's periodic reports filed with the SEC, there are no outstanding warrants, options, convertible securities or other rights, agreements or arrangements of any character under which the Company or any of its Subsidiaries is or may be obligated to issue any equity securities of any kind and except as contemplated by this Agreement, neither the Company nor any of its Subsidiaries is currently in negotiations for the issuance of any equity securities of any kind.   

 

The issuance and sale of the Securities hereunder will not obligate the Company to issue shares of Common Stock or other securities to any other Person (other than the Investor) and will not result in the adjustment of the exercise, conversion, exchange or reset price of any outstanding security. 

 

The Company does not have outstanding stockholder purchase rights or “poison pill” or any similar arrangement in effect giving any Person the right to purchase any equity interest in the Company upon the occurrence of certain events. 

 

4.4Valid Issuance.  The issued Securities have been duly and validly authorized and, when issued and paid for pursuant to this Agreement, shall be free and clear of all encumbrances and restrictions (other than those created by the Investor), except for restrictions on transfer set forth in the Transaction Documents or imposed by applicable securities laws.  Upon the due conversion of the Debenture, the Converted Shares will be validly issued, fully paid and non-assessable free and clear of all encumbrances and restrictions, except for restrictions on transfer set forth in the Transaction Documents or imposed by applicable securities laws and except for those created by the Investor.  The Company has reserved a sufficient number of shares of Common Stock for issuance upon the exercise of the Debenture, free and clear of all encumbrances and restrictions, except for restrictions on transfer set forth in the Transaction Documents or imposed by applicable securities laws and except for those created by the Investor. 

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4.5Consents.  The execution, delivery and performance by the Company of the Transaction Documents, and the offer, issuance and sale of the Securities require no consent of, action by or in respect of, or filing with, any Person, governmental body, agency, or official other than filings that have been made pursuant to applicable state securities laws, and post-sale filings pursuant to applicable state and federal securities laws which the Company undertakes to file within the applicable time periods.  Subject to the accuracy of the representations and warranties of the Investor set forth in Section 5 hereof, the Company has taken all action necessary to exempt (i) the issuance and sale of the Securities, (ii) the issuance of the Shares upon due conversion of the Debenture, and (iii) the other transactions contemplated by the Transaction Documents from the provisions of any shareholder rights plan or other “poison pill” arrangement, any anti-takeover, business combination or control share law or statute binding on the Company or to which the Company or any of its assets and properties may be subject and any provision of the Company’s Articles of Incorporation or By-laws that is or could reasonably be expected to become applicable to the Investor as a result of the transactions contemplated hereby, including without limitation, the issuance of the Securities and the ownership, disposition or voting of the Securities by the Investor or the exercise of any right granted to the Investor pursuant to this Agreement or the other Transaction Documents. 

 

4.6Delivery of SEC Filings; Business.  The Company has made available or shall make available, within 60 calendar days from the execution of this Agreement, to the Investor through the EDGAR system, true and complete copies of the Company’s most recent Annual Report on Form 10-K for its last fiscal year (the “10-K”), and all other reports filed by the Company pursuant to the 1934 Act since the filing of the 10-K and prior to the date hereof (collectively, the “SEC Filings”).  The SEC Filings are the only filings required of the Company pursuant to the 1934 Act for such period.  The Company and its Subsidiaries are engaged in all material respects only in the business described in the SEC Filings and the SEC Filings contain a complete and accurate description in all material respects of the business of the Company and its Subsidiaries, taken as a whole. 

 

4.7Use of Proceeds.  The net proceeds of the sale of the Note hereunder shall be used by the Company for working capital and general corporate purposes. The Company agrees that it shall not use the funds from this Agreement, at any time, to lend money, give credit or make advances to any officers, directors, employees, subsidiaries and affiliates of the Company. 

 

4.8No Conflict, Breach, Violation or Default.  The execution, delivery and performance of the Transaction Documents by the Company and the issuance and sale of the Securities will not conflict with or result in a breach or violation of any of the terms and provisions of, or constitute a default under (i) the Company’s Articles of Incorporation or the Company’s Bylaws, both as in effect on the date hereof (true and complete copies of which have been made available to the Investor through the EDGAR system), or (ii)(a) any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company, any Subsidiary or any of their respective assets or properties, or (b) any agreement or instrument to which the Company or any Subsidiary is a  

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party or by which the Company or a Subsidiary is bound or to which any of their respective assets or properties is subject.

 

4.9Brokers and Finders.  No Person will have, as a result of the transactions contemplated by the Transaction Documents, any valid right, interest or claim against or upon the Company, any Subsidiary or an Investor for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf of the Company. 

 

4.10No Directed Selling Efforts or General Solicitation.  Neither the Company nor any Person acting on its behalf has conducted any general solicitation or general advertising (as those terms are used in Regulation D) in connection with the offer or sale of any of the Securities. 

 

4.11No Integrated Offering.  Neither the Company nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any Company security or solicited any offers to buy any security, under circumstances that would adversely affect reliance by the Company on Section 4(2) for the exemption from registration for the transactions contemplated hereby or would require registration of the Securities under the 1933 Act. 

 

4.12Private Placement.  The offer and sale of the Securities to the Investor as contemplated hereby is exempt from the registration requirements of the 1933 Act. 

 

5.Representations and Warranties of the Investor.  The Investor hereby represents and warrants to the Company that: 

 

5.1Organization and Existence.  Such Investor is a validly existing corporation, limited partnership or limited liability company and has all requisite corporate, partnership or limited liability company power and authority to invest in the Securities pursuant to this Agreement. 

 

5.2Authorization.  The execution, delivery and performance by such Investor of the Transaction Documents to which such Investor is a party have been duly authorized and will each constitute the valid and legally binding obligation of such Investor, enforceable against such Investor in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability, relating to or affecting creditors’ rights generally. 

 

5.3Purchase Entirely for Own Account.  The Securities to be received by such Investor hereunder will be acquired for such Investor’s own account, not as nominee or agent, and not with a view to the resale or distribution of any part thereof in violation of the 1933 Act, and such Investor has no present intention of selling, granting any participation in, or otherwise distributing the same in violation of the 1933 Act without prejudice, however, to such Investor’s right at all times to sell or otherwise dispose of all or any part of such Securities in compliance with applicable federal and state securities laws.  Nothing contained herein shall be  

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deemed a representation or warranty by such Investor to hold the Securities for any period of time.  Such Investor is not a broker-dealer registered with the SEC under the 1934 Act or an entity engaged in a business that would require it to be so registered.

 

5.4Investment Experience.  Such Investor acknowledges that it can bear the economic risk and complete loss of its investment in the Securities and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment contemplated hereby. 

 

5.5Disclosure of Information.  Such Investor has had an opportunity to receive all information related to the Company requested by it and to ask questions of and receive answers from the Company regarding the Company, its business and the terms and conditions of the offering of the Securities.  Such Investor acknowledges receipt of copies of the SEC Filings.  Neither such inquiries nor any other due diligence investigation conducted by such Investor shall modify, amend or affect such Investor’s right to rely on the Company’s representations and warranties contained in this Agreement. 

 

5.6Restricted Securities.  Such Investor understands that the Securities are characterized as “restricted securities” under the U.S. federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the 1933 Act only in certain limited circumstances. 

 

5.7Legends.  It is understood that, except as provided below, certificates evidencing the Securities may bear the following or any similar legend: 

 

(a)“The securities represented hereby may not be transferred unless (i) such securities have been registered for sale pursuant to the Securities Act of 1933, as amended, (ii) such securities may be sold pursuant to Rule 144(i), or (iii) the Company has received an opinion of counsel reasonably satisfactory to it that such transfer may lawfully be made without registration under the Securities Act of 1933 or qualification under applicable state securities laws.” 

 

(b)If required by the authorities of any state in connection with the issuance of sale of the Securities, the legend required by such state authority. 

 

5.8Accredited Investor.  Such Investor is an accredited investor as defined in Rule 501(a) of Regulation D, as amended, under the 1933 Act. 

 

5.9No General Solicitation.  Such Investor did not learn of the investment in the Securities as a result of any public advertising or general solicitation. 

 

5.10Brokers and Finders.  No Person will have, as a result of the transactions contemplated by the Transaction Documents, any valid right, interest or claim against or upon the Company, any Subsidiary or an Investor for any commission, fee or other compensation  

7

pursuant to any agreement, arrangement or understanding entered into by or on behalf of such Investor.

 

6.  Conditions to Closing. 

 

6.1Conditions to the Investor’s Obligations. The obligation of the Investor to purchase the Note at Closing is subject to the fulfillment to such Investor’s satisfaction, on or prior to the Closing Date, of the following conditions, any of which may be waived by the Investor: 

 

(a)The representations and warranties made by the Company in Section 4 hereof qualified as to materiality shall be true and correct at all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct as of such earlier date, and, the representations and warranties made by the Company in Section 4 hereof not qualified as to materiality shall be true and correct in all material respects at all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or warranty shall be true and correct in all material respects as of such earlier date.  The Company shall have performed in all material respects all obligations and conditions herein required to be performed or observed by it on or prior to the Closing Date. 

 

(b)The Company shall have obtained any and all consents, permits, approvals, registrations and waivers necessary or appropriate for consummation of the purchase and sale of the Securities, and the consummation of the other transactions contemplated by the Transaction Documents, all of which shall be in full force and effect. 

 

(c)No judgment, writ, order, injunction, award or decree of or by any court, or judge, justice or magistrate, including any bankruptcy court or judge, or any order of or by any governmental authority, shall have been issued, and no action or proceeding shall have been instituted by any governmental authority, enjoining or preventing the consummation of the transactions contemplated hereby or in the other Transaction Documents. 

 

(d)The Company shall have executed and delivered the Notes and supporting documentation.  

 

(e)The Company shall have executed and delivered the Irrevocable Transfer Agent Instructions. 

 

(f)No stop order or suspension of trading shall have been imposed by the public markets on which the Company’s common stock is traded or quoted, the SEC or any other governmental or regulatory body with respect to public trading in the Common Stock. 

 

6.2Conditions to Obligations of the Company. The Company's obligation to sell and issue the Note at Closing is subject to the fulfillment to the satisfaction of the Company  

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on or prior to the Closing Date of the following conditions, any of which may be waived by the Company:

 

(a)The representations and warranties made by the Investor in Section 5 hereof, other than the representations and warranties contained in Sections 5.3, 5.4, 5.5, 5.6, 5.7, 5.8 and 5.9 (the “Investment Representations”), shall be true and correct in all material respects when made, and shall be true and correct in all material respects on the Closing Date with the same force and effect as if they had been made on and as of said date.  The Investment Representations shall be true and correct in all respects when made, and shall be true and correct in all respects on the Closing Date with the same force and effect as if they had been made on and as of said date.  The Investor shall have performed in all material respects all obligations and conditions herein required to be performed or observed by them on or prior to the Closing Date. 

 

(b)The Investor shall have delivered the Purchase Price to the Company in accordance with the schedule outlined herein.  

 

 

6.3Termination of Obligations to Effect Closing; Effects. 

 

(a)The obligations of the Company, on the one hand, and the Investor, on the other hand, to effect the Closing shall terminate as follows: 

 

(i)Upon the mutual written consent of the Company and the Investor; 

 

(ii)By the Company if any of the conditions set forth in Section 6.2 shall have become incapable of fulfillment, and shall not have been waived by the Company; 

 

(iii)By the Investor if any of the conditions set forth in Section 6.1 shall have become incapable of fulfillment, and shall not have been waived by the Investor; orprovided, however, that, except in the case of clause (i) above, the party seeking to terminate its obligation to effect the Closing shall not then be in breach of any of its representations, warranties, covenants or agreements contained in this Agreement or the other Transaction Documents if such breach has resulted in the circumstances giving rise to such party’s seeking to terminate its obligation to effect the Closing. 

 

7.Survival and Indemnification. 

 

7.1 Survival.  The representations, warranties, covenants and agreements contained in this Agreement shall survive the Closing of the transactions contemplated by this Agreement. 

 

7.2 Indemnification.  The Company agrees to indemnify and hold harmless each Investor and its Affiliates and their respective directors, officers, employees and agents from and against any and all losses, claims, damages, liabilities and expenses (including without limitation  

9

reasonable attorney fees and disbursements and other expenses incurred in connection with investigating, preparing or defending any action, claim or proceeding, pending or threatened and the costs of enforcement thereof) (collectively, “Losses”) to which such Person may become subject as a result of any breach of representation, warranty, covenant or agreement made by or to be performed on the part of the Company under the Transaction Documents, and will reimburse any such Person for all such amounts as they are incurred by such Person.

 

7.3 Conduct of Indemnification Proceedings.  Promptly after receipt by any Person (the “Indemnified Person”) of notice of any demand, claim or circumstances which would or might give rise to a claim or the commencement of any action, proceeding or investigation in respect of which indemnity may be sought pursuant to Section 7.2, such Indemnified Person shall promptly notify the Company in writing and the Company shall assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Person, and shall assume the payment of all fees and expenses; provided, however,that the failure of any Indemnified Person so to notify the Company shall not relieve the Company of its obligations hereunder except to the extent that the Company is materially prejudiced by such failure to notify.  In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless: (i) the Company and the Indemnified Person shall have mutually agreed to the retention of such counsel; or (ii) in the reasonable judgment of counsel to such Indemnified Person representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them.  The Company shall not be liable for any settlement of any proceeding effected without its written consent, which consent shall not be unreasonably withheld, but if settled with such consent, or if there be a final judgment for the plaintiff, the Company shall indemnify and hold harmless such Indemnified Person from and against any loss or liability (to the extent stated above) by reason of such settlement or judgment.  Without the prior written consent of the Indemnified Person, which consent shall not be unreasonably withheld, the Company shall not affect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Person from all liability arising out of such proceeding. 

 

8.Miscellaneous. 

 

8.1Successors and Assigns.  This Agreement may not be assigned by a party hereto without the prior written consent of the Company or the Investor, as applicable, provided, however, that an Investor may assign its rights and delegate its duties hereunder in whole or in part to an Affiliate or to a third party acquiring some or all of its Securities in a private transaction without the prior written consent of the Company, after notice duly given by such Investor to the Company.  The provisions of this Agreement shall inure to the benefit of and be binding upon the respective permitted successors and assigns of the parties.  Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 

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8.2Counterparts; This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Agreement may also be executed in electronic form, which shall be deemed an original. 

 

8.3Titles and Subtitles.  The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

 

8.4Notices.  Unless otherwise provided, any notice required or permitted under this Agreement shall be given in writing and shall be deemed effectively given as hereinafter described (i) if given by personal delivery, then such notice shall be deemed given upon such delivery, (ii) if given by fax, then such notice shall be deemed given upon receipt of confirmation of complete transmittal, (iii) if given by mail, then such notice shall be deemed given upon the earlier of (A) receipt of such notice by the recipient or (B) three days after such notice is deposited in first class mail, postage prepaid, and (iv) if given by an internationally recognized overnight air courier, then such notice shall be deemed given one business day after delivery to such carrier.  All notices shall be addressed to the party to be notified at the address as follows, or at such other address as such party may designate by ten days’ advance written notice to the other party: 

 

If to the Company: 

 

Appiphany Technologies Holdings Corp.

375 West 200 South, Suite 225

Salt Lake City, UT 84101

Attn: Scott Cox

 

Email: scott@verdebh.com

Tel: 972-948-1179

 

 

If to the Investor: 

 

GHS Investments, LLC

420 Jericho Turnpike, Suite 102

Jericho, NY 11753

 

 

8.5Expenses.  The parties hereto shall pay their own costs and expenses in connection herewith.  In the event that legal proceedings are commenced by any party to this Agreement against another party to this Agreement in connection with this Agreement or the other Transaction Documents, the party or parties which do not prevail in such proceedings shall severally, but not jointly, pay their pro rata share of the reasonable attorneys’ fees and other reasonable out-of-pocket costs and expenses incurred by the prevailing party in such proceedings. 

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8.6Amendments and Waivers.  Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Investor.  Any amendment or waiver effected in accordance with this paragraph shall be binding upon each holder of any Securities purchased under this Agreement at the time outstanding, each future holder of all such Securities, and the Company. 

 

8.7Severability.  Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof but shall be interpreted as if it were written so as to be enforceable to the maximum extent permitted by applicable law, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.  To the extent permitted by applicable law, the parties hereby waive any provision of law which renders any provision hereof prohibited or unenforceable in any respect. 

 

8.8Entire Agreement.  This Agreement, including the Exhibits and the Disclosure Schedules, and the other Transaction Documents constitute the entire agreement among the parties hereof with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter hereof and thereof. 

 

8.9Further Assurances.  The parties shall execute and deliver all such further instruments and documents and take all such other actions as may reasonably be required to carry out the transactions contemplated hereby and to evidence the fulfillment of the agreements herein contained. 

 

8.10Governing Law; Consent to Jurisdiction; Waiver of Jury Trial.  This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Nevada, without regard to principles of conflicts of law.  Each of the parties hereto irrevocably submit to the exclusive jurisdiction of the state and federal courts sitting in New York City, New York over any action or proceeding arising out of or relating to this Agreement and the parties hereto hereby irrevocably agree that all claims in respect of such action or proceeding may be heard and determined in such court. The parties hereto agree that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. The parties hereto further waive any objection to venue in the State of New York and any objection to an action or proceeding in the State of New York on the basis of forum non conveniens.
   

[signature page follows]

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IN WITNESS WHEREOF, the parties have executed this Agreement or caused their duly authorized officers to execute this Agreement as of the date first above written. 

 

The Company:Appiphany Technologies Holdings, Corp.  

 

 

 

By: 

Name: Scott A. Cox 

Title:   CEO 

 

The Investor:GHS Investments, LLC.  

 

 

 

By:  

Member 

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Disclosure Schedules/ Exhibits

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