Document:

Asset Purchase Agreement

 Exhibit 10.1 
 ASSET PURCHASE AGREEMENT 
 This Asset Purchase
Agreement (the “Agreement”) is made and entered into this 12th day of September , 2012, with an effective date of August 31st, 2012 (“Effective Date”), by and among Innovaro, Inc., a Delaware corporation, Innovaro Europe, Ltd.
(Collectively “Seller”), and IP Technology Exchange, Inc., a Florida corporation (“Purchaser”). 
 WHEREAS,
Seller desires to sell, and Purchaser desires to purchase, certain assets of the Divisions and to assume certain liabilities of the business of the Divisions; and 
 NOW, THEREFORE, in consideration of the mutual promises, covenants, and agreements the parties agree as follows: 
 ARTICLE I 
 PURCHASE AND SALE OF ASSETS 

1.01 Assets to be Purchased. On the Closing Date (as such term is defined in Article X), Seller shall sell, assign, transfer and deliver to
Purchaser, free and clear of all liens and debt, and Purchaser shall purchase, accept and acquire from Seller, all of Seller’s right, title and interest in and to the following assets owned by Seller as they relate to Pharmalicensing, Global
Licensing, Pharma Transfer and Knowledge Express ( Collectively “Divisions”), other than the Excluded Assets (as defined in Section 1.02) (collectively, “Asset(s)”), Seller states that no financing statement under the UCC or
similar law naming the Seller as Debtor has been filed nor is Seller bound by any agreement or arrangement authorizing any party to file same 
  

	(a)	all Computer software (including object and source code, in machine readable and listing form) and all documentation (including system and software documentation,
documentation made available to customers, and training materials), flowcharts, source code notes, software tools, compilers, test routines, and other information and materials, in whatever form, related thereto; and all revisions, release levels,
and versions thereof including, but not limited to, those listed on Schedule 1.01(a) (collectively, the “Software”), relating to the Assets of the operation of the business of the Divisions of the Divisions being acquired.

  

	(b)	all names relating to the Assets of the operation of the business of the Divisions of the Divisions being acquired( including but not limited to “Knowledge Express
Data Systems”, Pharmalicensing, Medical Device Licensing, Tekscout , PL Intelligence, Pharma Transfer, Biopharma Reports Store ,and Global Technology Licensing), all telephone and data communication line numbers and addresses, patents, patent
applications, inventions, marks, formulas (patented and unpatented), symbols, trade names, trademarks, service marks, trade secrets, domain name registrations, websites, technical know-how, developments, customer lists, methods, operations,
copyrights, copyright applications, logos, franchises, process instructions, permits, licenses and sublicenses (and agreements in respect thereof or applications therefore), patent, trademark and copyright prosecution histories, laboratory notebooks
and all other proprietary rights, documents, information and records including, but not limited to, all filings, registrations or issuances of any of the foregoing with or by any federal, state, local or foreign regulatory, administrative or
governmental office or offices, and all federal, state and common law rights protecting such in the United States of America and throughout the world including, but not limited to, those listed on Schedule 1.01(b) (collectively, the
“Proprietary Rights”); 

  

	(c)	all books and records relating to the Assets of the operation of the business of the Divisions, including, but not limited to, purchasing and sales records, engineering
records, accounting records, computer programs, customer and vendor lists, marketing materials and records, and such other records as Purchaser may require in its conduct of the business of the Divisions subsequent to the Closing, Schedule 1.01
(c) (collectively, the “Books and Records”); 

  

	(d)	 all other property, assets and rights, tangible or intangible, receivables, customer deposits owned by Seller relating to the operation of the business
of the Divisions, including, but not limited to, 

	 	
such other property, assets and rights listed on Schedule 1.01(d) (collectively, “Other Assets”), including without limitation all Contracts and Permits (written or oral)
including those listed on Schedule 2.07), relating to the Assets and of the operation of the business of the business of the Divisions being acquired. 

 1.02 Exclusions from Sale. Notwithstanding anything contained in Section 1.01 to the contrary, the following assets shall be excluded from the sale contemplated by this Agreement,
collectively, “Excluded Assets”): 
  

	(a)	Minute Books. The company minute books and membership records of the Seller (provided Purchaser shall be entitled to copies thereto), if any;

  

	(b)	Tax Records. The books of account and other records which are required by law to be kept in Seller’s possession, including but not limited to tax returns
(provided Purchaser shall be entitled to copies thereto); 

  

	(c)	Claims; Refunds. All claims, deposits, refunds (including tax and insurance refunds), causes of action, rights of recovery, rights of set off and rights of
recoupment in connection with the business of the Divisions as of, or prior to, the Closing Date, including all rights under any property casualty, workers’ compensation, or other insurance policy or related insurance services contract, except
to the extent the same is for payment of a liability for which Purchaser becomes obligated to pay (by contract, operation of law or otherwise). 

 1.03 Method of Conveyance and Transfer. The conveyance, transfer and delivery of the Assets will be effected by, bills of sale, endorsements, assignments, assumptions and other instruments of
transfer, all in such form as Purchaser reasonably requests, vesting in Purchaser good and marketable title to the Assets, free and clear of all liens (as such term is hereinafter defined in Section 2.05 other than Permitted Liens).

 1.04 Purchase Price. The purchase price (the “Purchase Price”) for the Assets is (a) Two Million Dollars ($2,000,000),
which Six Hundred Thousand Dollars ($600,000) shall be payable at Closing in immediately available funds (without adjustment) by certified check or wire transfer as requested by Purchaser, and (b) credit of Seventy Thousand Three Hundred Thirty
Three and 33/100 Dollars ($70,330.33) for the assumption of certain liabilities in the Assumed Liabilities (as defined in Section 5.01) and the balance of One Million Three Hundred Twenty Nine Thousand Six Hundred Sixty Nine and 70/100 Dollars
($1,329,669.70) to be paid as follows: 
 Quarterly principal payments of One Hundred Thousand Dollars ($100,000) plus interest commencing
November 30th, 2012 and paid each quarter thereafter, with interest at the rate of five percent per year. On or before September 1, 2014 the principal balance and accrued interest shall be due and payable. If the entire balance is paid off
on or before May 1st, 2013, the Purchaser shall receive a credit of One Hundred Twenty Five Thousand Dollars ($125,000.00) against the purchase price. A payment shall be timely if made within 15 days of due date. Purchaser shall be in default
under this Agreement if it fails to make any payment when due and fails to make such payment within 15 days after written demand by Seller 

1.05 Payments at Closing. Purchaser shall pay the sum of six hundred thousand ($600,000) Dollars as partial payment of the Purchase Price.

 1.06 Allocation of Purchase Price. Purchaser and Seller covenant and agree with each other that the Purchase Price shall be allocated
among the Assets in accordance with Section 1060 of the Internal Revenue Code of 1986, as amended, and the regulations thereunder. 
 1.07
Transfer Taxes. All applicable sales and transfer taxes, if any, arising by reason of the transfer of the Assets under this Agreement will be borne by Seller. 

  
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 ARTICLE II 
 REPRESENTATIONS AND WARRANTIES OF SELLER 
 Seller hereby represents and
warrants to Purchaser all of the following, each of which is material to and is being relied upon by Purchaser. 
 2.01 Organization,
Standing and Authority of Seller. 
  

	(a)	Innovaro is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. Innovaro Europe, Ltd, is a company duly
organized, validly existing and in good standing under the laws of England. Seller has all requisite power and authority to execute and deliver this Agreement and to perform its obligations hereunder. Seller has all requisite power and authority to
own, lease, hold and operate its assets and properties and to conduct its business of the Divisions as and where owned, leased, held, operated or conducted, and to hold all franchises, licenses and permits necessary and required therefor, which
franchises, licenses and permits are listed on Schedule 2.01(a). 

  

	(b)	The execution and delivery of this Agreement by Seller and the performance by Seller of the transactions contemplated herein have been duly authorized by all necessary
company action on the part of Seller. No further company action on the part of Seller is or will be necessary to make this Agreement valid and binding on Seller and enforceable against Seller in accordance with its terms. This Agreement and all
documents required to be executed and delivered by Seller hereunder constitute legal, valid and binding obligations of Seller enforceable against Seller in accordance with their terms. Seller’s execution, delivery and performance of this
Agreement and such documents, and the consummation of the transactions contemplated herein and therein, do not and will not: 

  

	 	(i)	with the passage of time, the giving of notice or otherwise, result in a violation or breach of any provision of or constitute a default under the Articles of
Incorporation of Seller or any resolution of the Shareholders of Seller; 

  

	 	(ii)	subject to any third party consents required with respect to Contracts (as otherwise described in this Agreement), conflict with, violate or result in a breach of any
provisions, constitute a default under any term or provision of, or give rise to a right of termination or acceleration under, any mortgage, indenture, loan agreement, security agreement, lease, license, deed of trust, order, arbitration award,
order, judgment, decree, rule, regulation, law, contract, instrument or other agreement to which Seller is a party or by which Seller, or any of its businesses or assets are otherwise subject or bound; 

 

	 	(iii)	subject to any third party consents required with respect to Contracts (as otherwise described in this Agreement) result in the creation or imposition of any Lien upon
the Assets; or 

  

	 	(iv)	subject to any third party consents required with respect to Contracts (as otherwise described in this Agreement) violate or conflict with any other restrictions of any
kind or nature with respect to the Assets or to the operation of the business of the Divisions. 

  
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 2.02 Absence of Certain Changes or Events. Except as set forth on Schedule 2.02, the Divisions
have operated only in the ordinary course consistent with past practice and no material adverse change in the assets, liabilities, financial condition, results of operation, business of the Divisions or prospects of Seller has occurred with respect
to the business of the Divisions. To Seller’s knowledge, there has not occurred any event or governmental regulation or order which could be reasonably anticipated to cause such a change, nor, to Seller’s knowledge, is the occurrence of
any such event, regulation or order threatened. 
 2.03 Consents and Approvals. Except as listed on Schedule 2.03, no consent,
approval or authorization of, or declaration, filing or registration with, any federal, state, local or other governmental or regulatory authority is required in connection with the execution and delivery by Seller of this Agreement and the
consummation by Seller of the transactions contemplated hereby. Purchaser acknowledges that some or all of the Contracts (as defined in Section 2.07 require the consents of third parties thereto for the assignment of such Contracts. Set forth
in Section 2.03 is a list of consents (the “Obtained Consents) which have been obtained as of the Closing Date. Seller makes no representation or warranty with respect to the assignment of any Contract for which an Obtained Consent has not
been obtained. 
 2.04 Leased Real Property. Seller does not own, and has never owned, any real property or any interest in any real
property, except for the leases set forth on Schedule 2.04 (the “Leased Real Property”). Except as set forth on Schedule 2.04, to Seller’s knowledge (a) there is no condemnation or eminent domain proceeding of any
kind pending or, to the best knowledge of Seller, threatened against any of the Leased Real Property; (b) all leases regarding the Leased Real Property are in writing and are duly executed; (c) the leases listed in Schedule 2.05
constitute all of the lease arrangements, written or oral, that currently exist for the lease of any real property by Seller, whether as landlord or tenant; and (d) there is no default by Seller or, to Seller’s knowledge, any other
party which affects any of the Leased Real Property. 
 2.05 Assets. Seller owns and possesses and will own and possess as of the Closing
Date all right, title and interest to all of the Assets, and as of the Closing Date, the Assets shall be free and clear of any and all pledges, mortgages, liens, charges, encumbrances, security interests, claims, attachments, judgments, settlements,
demands, conditional sales and/or other types of title retention arrangements, hypothecation, privileges, options, subordination(s) to any right or claim of any person(s) or entity(ies), or any restrictions including any restriction as to transfer
or as to use or possession thereof whether perfected or otherwise (“Liens”) other than those which are to be paid and released at Closing. Seller has and will have as of the Closing Date full right, power and capacity to sell, convey,
assign, transfer and deliver to Purchaser good and marketable title in and to the Assets, free and clear of all Liens. Except for the Excluded Assets, the Assets include all of the assets necessary to carry on the operations of the business of the
Divisions as the same is presently conducted and has been conducted during the twelve (12) month period immediately preceding the Closing Date. Seller enjoys peaceful and quiet possession of the Assets. 

2.06 Software and Proprietary Rights. 
 (a) Schedule 1.01(a) is a true, correct, and complete listing of the Software. Except as set forth in Schedule 2.06 (a) [attached hereto and made a part hereof, there are no material errors,
malfunctions, and/or defects in the Software, and there are no uses of the Software or any portion thereof by any third party. 

(b) Schedule 1.01(b) lists all Proprietary Rights owned by Seller and used in the operation of the business of the Divisions.
Schedule 2.06(b) lists (i) all licenses and agreements under which Seller, with respect to the business of the Divisions, has given the right to use any of the Software and the Proprietary Rights and (ii) all licenses and agreements
under which Seller has the right to use any third party’s similar type of property in connection with the business of the Divisions. 
 (c) No proceedings have been instituted or are pending or, to the best of Seller’s knowledge, threatened which challenge the validity of the ownership or use by Seller of the Proprietary Rights or
any third party’s similar type of property. 

  
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 (d) Seller has no knowledge of the infringing use or activity, including misappropriation,
dilution, impairment, or actions which constitute unfair competition, with respect to any Software and Proprietary Rights or the infringement of any of such Software and Proprietary Rights by any other person, and Seller owns (or possesses adequate
and enforceable licenses or other rights to use) all Software and Proprietary Rights now used in the operations of its business of the Divisions, and Seller has not received any notice of conflict with the asserted rights of others with respect to
the Software and the Proprietary Rights. 
 (e) Seller is the sole and exclusive owner of all right, title and interest in and
to, and has the right and authority to use, each of the Software and the Proprietary Rights in connection with the operations of the business of the Divisions in the manner presently conducted, and to convey such right, title, interest and authority
free and clear of all Liens. Except as set forth on Schedule 2.06(e), there are no royalties, fees, or payments payable by or on behalf of Seller to any person or entity with respect to any Software or Proprietary Right. 

(f) Seller has not, given any indemnification against, or has agreed to defend claims for, infringement with respect to the Software and
Proprietary Rights. 
 2.07 Contracts and Leases. Schedule 2.07 sets forth a list of all licenses, contracts, agreements,
documents and commitments (whether written or oral) (collectively, “Contracts”) relating to or in any way connected with Seller’s operation of the business of the Divisions, including, but not limited to, a list of all oral and/or
written leases for real and/or personal property with respect to the same (“Leases”). All Contracts and Leases are valid, subsisting and enforceable in accordance with their terms (subject to bankruptcy, insolvency and similar laws,
general principals of equity and other legal limitations on enforceability) with respect to Seller, and to Seller’s knowledge, with respect to any other party thereto and in full force and effect. Seller has provided to Purchaser a true and
complete copy of all written Contracts and Leases and a true and a complete description of all oral Contracts and Leases, with all amendments and modifications thereto. Neither Seller nor, to Seller’s knowledge, any other party to any of the
foregoing has violated or breached any provision of, nor is Seller or, to Seller’s knowledge, any other party in default (nor is any such default alleged to exist to Seller’s knowledge) in any respect under the terms of, any of the
Contracts or Leases. There exists no event or condition which, with the giving of notice, the lapse of time, or both, would become a default by Seller (or with to Seller’s knowledge, any other party thereto) under any Contracts or Leases.
Seller knows of no event, happening, set of circumstances, threat or fact which would lead it to believe that any party to Contracts or Leases will terminate its contractual relationship with Seller (provided however, with respect to Contracts and
Leases for which Consents have not been obtained as of the Closing, Seller makes no representation as to whether such parties might not consent to the transactions contemplated hereby or terminate any contract as a result). Seller has not waived, or
agreed to waive, any rights under any Contract or Lease. 
 2.08 Compliance with Laws, Permits and Licenses. 

 

	(a)	As of the Closing Date, Seller has complied with and is in compliance in all material respects with all federal, state, local and foreign laws, statutes, executive
orders, licensing requirements, rules, regulations and judicial and/or administrative decisions and/or ordinances pertaining to the operation of the business of the Divisions, the products produced and sold by the business of the Divisions, the
services which the business of the Divisions provides, and Assets owned and leased by Seller with regard to the operation of the business of the Divisions or any combination of such activities. Seller’s ownership and use of the Assets and the
operations of the business of the Divisions comply with the rules, regulations, bylaws or similar requirements of any association to which Seller is required to belong by the terms of any Contract or Lease, if any. As of the Closing Date, Seller has
no notice or knowledge of any violation of any law, statute, licensing requirement, rule, regulation, judicial and/or administrative decision and/or ordinance or of any pending or threatened investigation by any governmental body or agency with
regard to the operations of the business of the Divisions. 

  
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	(b)	Seller is: (a) duly licensed, with all requisite permits, licenses, approvals and other authorizations (collectively “Permits”) as required by any
applicable federal, state, local and foreign law and as required from all persons or entities in connection with the ownership of the Assets and the operations of the business of the Divisions in each jurisdiction in which any Permits are required ;
and (b) in compliance with all Permits. Permits are valid and in full force and effect, and all reports, informational returns and updates which Seller is required to file under any federal, state, local or foreign law, rule, regulation or
order with regard thereto have been filed in a timely manner and all fees relating to the same have been paid. Seller has not breached any provision of, is not in default in any respect under the terms of and has not engaged in any activity which
would cause revocation or suspension of, any Permits. No action, proceeding or investigation contemplating the revocation or suspension or revoking or suspending any such permit, license, approval or authorization is pending, or to the best of
Seller’s knowledge, threatened or likely to be instituted and Seller has no knowledge of any reason why any Permit would not be renewed (other than the transfer of ownership of the Assets contemplated hereby). The transfer of the Assets as
contemplated herein will not affect the validity or enforceability of such Permits. All Permits are listed on Schedule 1.01(d). 

 2.09 Litigation. Except as set forth on Schedule 2.09, there is no administrative, governmental or judicial (satisfied and/or unsatisfied) suit, claim, action, arbitration, proceeding or
investigation (whether federal, state, local or foreign), pending or, to Seller’s knowledge, threatened, which relates to (or would reasonably be anticipated to relate to) or affect the Assets or the operations of the business of the Divisions,
or against Seller, or otherwise involving Seller, nor any of the foregoing that has been concluded in the past three years. Seller is not bound by, subject to or in default under any order, judgment, award, writ, injunction or other ruling of any
court, administrative or governmental authority. Schedule 2.09 indicates which of the matters listed on such Schedule are covered by valid insurance and the extent of such coverage. 
 2.10 Other Liabilities. Except as otherwise set forth in this Agreement or in any of the Schedules attached hereto, there are no liabilities, claims, lawsuits, events which the Seller could
reasonably anticipate to be the basis of a claim or lawsuit, losses, damages, deficiencies, indebtedness, responsibilities or other obligations of any nature or kind whatsoever, whether known or unknown, fixed or unfixed, liquidated or unliquidated,
secured or unsecured, absolute, accrued, contingent or otherwise and whether due or to become due in connection with the Assets or the business of the Divisions which will be binding upon the Purchaser. 

2.11 Taxes. 
  

	(a)	Seller has: (i) timely filed, on or prior to the Closing Date, all Tax (as such term is defined in Section 5.02 (b)) returns, reports, schedules,
documents and declarations required to be filed by any jurisdiction to which Seller is or has been subject; (ii) timely paid in full all Taxes (as such term is defined in Section 5.02(b)) due and required to be paid and all Taxes
claimed to be due and required to be paid by each such jurisdiction including, without limitation, all Taxes payable to any jurisdiction by reason of the transfer of the Assets pursuant to this Agreement; and (iii) made timely withholdings and
timely payments of any Taxes required to be deducted and withheld from the wages paid to employees of Seller or others on or prior to the Closing Date. All Tax returns, schedules and declarations filed by Seller correctly reflect, in all material
respects, the matters required to be reported therein including, where appropriate, income, expenses, deductions, credits, loss carryovers and Taxes due, and such returns, schedules and declarations have not been amended except as set forth on
Schedule 2.11(a). Seller has no knowledge that an audit of any of its Tax returns is in progress or has any reason to believe that any such audit is contemplated. There are no controversies or claims, pending or otherwise, that have been
asserted against Seller or that Seller has a reasonable basis to anticipate will be asserted against it or which would result in liens or claims on any of the Assets or on Purchaser’s title to or use of the Assets, or that would result in any
claim against Purchaser, with regard to Taxes. Seller has furnished to Purchaser complete and correct copies of all federal, state, local and foreign Tax returns filed for each of its fiscal years beginning after 2009. 

  
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	(b)	Except as set forth on Schedule 2.11(b), the statute of limitations on the assessment and collection of Taxes has not been extended by agreement, waiver,
operation or law or otherwise, and there are no outstanding agreements or waivers extending the statutory period of limitations applicable to any federal, state, local, or foreign Tax return of Seller for any period. 

2.12 Labor Relations; Employees. 
  

	(a)	Seller is in compliance in all material respects with each of its obligations under all applicable statutes, rules, regulations, executive orders, judgments, orders,
decrees and agreements governing its employment practices and the employment relationships with its employees including, but not limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination and
Employment Act, the Rehabilitation Act of 1973, the National Labor Relations Act, the Immigration Act of 1990, the Immigration Reform and Control Act of 1986, the Fair Labor Standards Act, the Occupational Safety and Health Act of 1970, the Hazard
Communication Standards as promulgated by the Occupational Health and Safety Administration, each as amended, if applicable, and all other applicable federal, state and local statutes, laws (administrative and judicial), executive orders, rules and
regulations relating to employment, the payment of minimum wages and overtime rates, and the withholding and payment of Taxes from compensation of employees of the business of the Divisions. 

 

	(b)	Seller has no collective bargaining relationships nor are any of Seller’s employees subject to any such relationships with any labor organization.

 2.13 Insurance. Schedule 2.13 contains a correct and complete list of all insurance policies, binders, self-insurance
authorizations and bonds in force in which Seller is named as an insured party or beneficiary, which covers the business of the Divisions and Assets of Seller, or for which Seller has paid any premiums. The name(s) of each insurer, insured party and
beneficiary and the type and amount of coverage, deductible amounts, if any, as well as the expiration date(s) and the premium amount(s) of each such policy or bond are set forth on Schedule 2.13. All such policies and/or bonds are currently in full
force and effect and Seller has not received any notice of cancellations with respect to any of the policies. All premiums due and payable on such policies and/or bonds have been paid. Seller is not a co-insurer under any term of any such insurance
policy. Seller has not been refused any insurance by any insurance carrier to which it has applied for insurance during the last three (3) years. 
 2.14 Location of Assets. Schedule 2.14 sets forth a complete and correct list of all locations at which any of the Assets are situated together with a description of the Assets at such
location. 
 2.15 Liabilities of Others. Except for instruments endorsed for collection in the ordinary course of business of the
Divisions, Seller, with respect to the business of the Divisions, is not liable under or for, or a party to, or an endorser, guarantor, surety, co-signor, co maker or indemnitor of any contract, agreement, commitment or obligation of any other
person, corporation or entity. 
 2.16 Brokerage.-Intentionally Left Blank 

2.17 Satisfactory Relationships. Seller’s relationships with customers, vendors, suppliers, employees, governmental
authorities, and others with whom Seller has dealings with regard to the business of the Divisions have been reasonably satisfactory to Seller (except for ordinary course exceptions) and have not suffered any material adverse deterioration since
June 4th, 2012 Seller has no knowledge of any
proposed or contemplated termination or other changes in such relationships (provided Seller makes no representations as to the impact of the consummation of the transactions contemplated hereby on any such relationship). 

  
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 2.18 Representations and Warranties. Each of the representations and warranties of Seller set forth
in this Article II shall be true and correct as of the Closing Date. 
 2.19 Survival. The representations and warranties set forth
herein, and the corresponding indemnity provisions hereof, shall survive the Closing for a period of two years (2) years. Any representation or warranty made by any party hereto which is the subject of a written notice of claim made or dispute
raised in good faith given by such party to the other party prior to the expiration of said survival period shall survive with respect to such claim or dispute until the final resolution thereof pursuant to the terms of this Agreement. 

2.20 No Implied Representations. Except for Seller’s representations set forth in this Agreement and in the closing documents, Purchaser
agrees, acknowledges and represents that Purchaser is entering into this Agreement and shall perform all of its obligations hereunder and consummate the transaction contemplated by this Agreement solely in reliance on and as a result of
Purchaser’s own investigations and efforts (including its inspection of the Assets and the business of the Divisions and such other investigations, examinations and inspections as Purchaser has chosen to make or has made) and at
Purchaser’s sole risk, cost and expense, including, without limitation, the risk that Purchaser’s inspection of the Property and such other investigations, examinations and inspections may not reveal any or all adverse or existing
conditions, aspects or attributes of the Property. Purchaser acknowledges that Seller has afforded Purchaser the opportunity for full and complete investigation, examination and inspection of the Assets and the business of the Divisions. Purchaser
acknowledges that this paragraph was a negotiated part of this Agreement and serves as an essential component of consideration for the same. Without limiting the generality of the foregoing, the parties specifically acknowledge that Purchaser has
been given an opportunity to fully inspect the Assets and the business of the Divisions, and Contracts and Permits, and the Purchase Price has been negotiated to eliminate all claims, whether known or unknown, relating to the condition thereof and
all aspects and attributes thereof, other than as contemplated in this Agreement. Consequently, upon consummation of the Closing, Purchaser shall be deemed, on behalf of itself and all those claiming by or through it, to have irrevocably and
unconditionally released Seller from, and this clause shall be deemed to bar claims, whether or not presently known, which could be brought by Purchaser and all those claiming by or through Purchaser concerning the condition of the Assets, business
of the Divisions, or Contracts as of Closing other than as contemplated in this Agreement and the Closing documents; provided, however, that the preceding release shall not be deemed to release Seller from any claims that Purchaser may heretofore or
hereafter have resulting from a breach by Seller of it representations or covenants set forth in this Agreement or in the closing documents, subject, nevertheless, to the time limitations herein below for bringing a claim thereon. 

EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES OF SELLER SET FORTH HEREIN AND IN THE CLOSING DOCUMENTS, PURCHASER ACKNOWLEDGES AND AGREES THAT IT
WILL BE PURCHASING THE PROPERTY “AS IS” AND “WITH ALL FAULTS”, BASED UPON THE CONDITION OF THE ASSETS AS OF THE CLOSING DATE AND THAT, EXCEPT AS SET FORTH IN THIS AGREEMENT OR THE CLOSING DOCUMENTS, SELLER MAKES NO WARRANTY OR
REPRESENTATION, EXPRESS OR IMPLIED, OR ARISING BY OPERATION OF LAW, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF CONDITION, HABITABILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, IN RESPECT OF THE ASSETS 

ARTICLE III 

REPRESENTATIONS AND WARRANTIES OF PURCHASER 
 Purchaser hereby represents and warrants to Seller the following, each of which is material to and is being relied upon by Seller: 
 3.01 Organization, Good Standing and Authority of Purchaser. Purchaser is a corporation duly organized, validly existing and in good standing under the laws of the State of Minnesota and has full
corporate power and authority to execute and deliver this Agreement and to perform its obligations hereunder. The execution, delivery and performance of this Agreement have been authorized by Purchaser,

  
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which authorization constitutes all necessary corporate action on the part of Purchaser to execute, deliver and perform this Agreement. This Agreement, and all documents required to be executed
and delivered by Purchaser hereunder, constitute legal, valid and binding obligations of Purchaser enforceable in accordance with their terms. 

3.02 No Conflict. Neither the execution and delivery of this Agreement nor the Purchaser’s performance of the transactions contemplated
herein will (a) violate or conflict with any provisions of Purchaser’s Articles of Incorporation or Bylaws or any other agreement to which Purchaser is subject, or (b).is prohibited by or violates any law, rule or regulation, judgment,
order, writ, injunction or decree which is binding upon the Purchaser. 
 3.03 Litigation. There are no actions, suits, proceedings or
investigations of any kind pending or, to the knowledge of the Purchaser and its shareholders, threatened against the Purchaser or its shareholders before any court, tribunal or administrative agency or board which could reasonably be expected to
materially and adversely affect the consummation of the transactions contemplated hereby. 
 3.04 Assumed Contracts. The Purchaser
acknowledges that the Seller has provided the Purchaser with access to true and complete copies of all Contracts and Permits, and the Purchaser further acknowledges that it has reviewed the Contracts and Permits and is familiar with their terms.

 3.05 Representations and Warranties. Each of the representations and warranties of Purchaser set forth in this Article III shall be
true and correct as of the date this Agreement is signed and as of the Closing Date. 
 3.06 Survival. The representations and warranties
set forth herein, and the corresponding indemnity provisions hereof, shall survive the Closing for a period of two (2) year. Any representation or warranty made by any party hereto which is the subject of a written notice of claim made or
dispute raised in good faith given by such party to the other party prior to the expiration of said survival period shall survive with respect to such claim or dispute until the final resolution thereof pursuant to the terms of this Agreement.

 ARTICLE IV 
 COVENANTS 
 4.01 Taxes. 
 (a) Seller shall: (a) timely file, on or after the Closing Date, all Tax returns, reports, schedules, documents and declarations required to be filed on or after the Closing Date for periods prior to
the Closing Date; 
 (b) timely pay all Taxes due and all Taxes claimed to be due with respect to periods of operation of the business of the
Divisions prior to the Closing Date; and (c) make timely withholdings and payments of the Taxes required to be deducted and withheld from the wages or other remuneration paid to employees of Seller or others, for periods prior to the Closing
Date (any such taxes which seller is obligated to pay or discharge under this Section being the “Seller’s Tax Obligations”). As used herein “Tax” means income taxes (whether federal, state, local or foreign) or other taxes
on or measured by income, gross receipts, profits or occupations, franchise taxes, excise taxes, employment taxes, unemployment taxes, payroll taxes, employee taxes, employer taxes, sales and use taxes, real property taxes, personal property taxes
(including any liability for personal property taxes accruing, arising or in any way resulting from, or determined with respect to, or in any way relating to or referenced by, any period prior to the Closing Date, and any other tax or taxes imposed,
whether or not assessed (or any penalties or assessments with respect to any Plan), by any federal, state, municipal, local or other governmental agency, foreign or domestic, including assessments in the nature of taxes, including interest and
penalties on any of the foregoing, (collectively, “Tax” or “Taxes”) of Seller. 

  
 9 

 (c) Purchaser shall have the right to invoice Seller for any amounts as may be due from Seller to any taxing
authority until such time as Seller either pays such amounts (and provides Purchaser with proof reasonably acceptable to Purchaser of the same) or provides Purchaser with proof reasonably acceptable to Purchaser that no such amounts are due. Seller
shall take all actions, and cause its officers to execute and deliver promptly all documents and instruments, reasonably requested by Purchaser to timely obtain such proof of payment or that no amounts are due. 

4.02 Consents. As of the Closing Date, Seller has obtained the Obtained Consents. Seller shall have no continuing obligation to obtain consents of
third parties (with respect to Contracts, Permits or otherwise) after the Closing Date. 
 4.03 Further Assurances. After the Closing
Date, if Purchaser considers or is advised that any further assignment, conveyance or other documents are necessary or desirable to vest, perfect, confirm or record in Purchaser title to any of the Assets or to aid in the prosecution, defense or
enforcement of any rights arising from the transfer of the Assets to Purchaser, Seller shall cause its authorized officer to execute and deliver promptly to Purchaser any and all assignments, or other documents and do all things requested by
Purchaser to vest, perfect or confirm title to the Assets in Purchaser or to convey such other rights as provided herein or to otherwise carry out the intent of this Agreement. Any such actions requested after the Closing Date shall beat the
Purchaser’s expense and shall not require any significant time or effort on the part of Seller. 
 4.04 Employees. Seller shall not
make any commitments to any of its employees with respect to the continued employment of such employees by Purchaser after the Closing Date. Purchaser does not by this Agreement or the transactions contemplated herein make any commitment or extend
any offer to hire any employees of Seller. Purchaser may, in its sole discretion, engage the services of the Seller’s current or former employees. 
 4.05 Closing and Other Costs. Seller shall pay the following Closing and other costs: (a) the cost of discharging any monetary liens; (b) the cost of all assessments, transfer taxes,
stamp taxes and conveyance fees. Each party shall pay its own legal and related expenses and Seller’s counsel shall be responsible for initial drafts of the documents relating to this transaction. 

4.06 Good Faith Efforts. Each of the parties hereto agrees to use its diligent good faith efforts to take, or cause to be taken, all appropriate
action, and to do, or cause to be done, all things necessary, proper or advisable under applicable laws and regulations to consummate and make effective the transactions contemplated by this Agreement. 

4.07 Access to Records. Following the Closing Date, Purchaser will allow Seller, during normal business of the Divisions hours, reasonable access
to records, books and other data relating to the Assets acquired hereunder for legitimate business of the Divisions reasons, such as the preparation of Tax returns or the defense of litigation. Following the Closing Date, Seller will allow
Purchaser, during normal business of the Divisions hours, reasonable access to records, books and other data of Seller to the extent that any of the foregoing relate to the Assets and/or to the operations of the business of the Divisions, for
legitimate business of the Divisions reasons, such as the preparation of Tax returns or the defense of litigation. Copies of such records, books and other data may be made in accordance with the above at the cost of the requesting party. All such
records, books and other data shall be maintained by the parties for a period of at least seven (7) years following the Closing Date, unless a longer period is required by applicable law. 

4.08 Confidentiality. After the Closing Date, Seller and each Member shall keep confidential and shall not (and will cause all subsidiaries not
to) disclose to any person, corporation or entity any 

  
 10 

 
information, documents and/or materials relating to the Assets, the business of the Divisions and/or the terms and conditions of this Agreement, except to the extent disclosure of any such
information is required by law, authorized by Purchaser or reasonably occurs in connection with disputes over the terms of this Agreement. 

4.09 Disclosure. Prior to the Closing Date, no party to this Agreement will issue any press release or make any other public disclosures
concerning this transaction or the contents of this Agreement without the prior consent of the other party. The content of any such release or disclosure shall be mutually agreed upon between the parties. Following the Closing Date, neither Seller
nor any Stockholder shall issue any press release or make any other public disclosure concerning this transaction or the contents of this Agreement without the prior written consent of Purchaser. Notwithstanding the above, nothing in this
Section 4.09 will preclude any party from making any disclosures required by law or regulation or necessary and proper in conjunction with the filing of any tax return or other document required to be filed with any federal, state or local
governmental body, authority or agency in which case the party making such determination will, if practicable under the circumstances, use reasonable efforts to allow the other party reasonable time to comment on such release or disclosure in
advance of its issuance. 
 4.10 Use of Name. As soon as possible following the Closing, Seller shall take whatever actions that are
proper and necessary to remove any of the above names (set forth in 1.01(b)) from its website or other material. 
 4.11 Post Closing
Qualifying Agreement.  
 a. Purchaser acknowledges and agrees that Seller is currently negotiating with each of the third-parties set forth
on Exhibit A (each a “Seller Customer”) to provide products and services in the Division (the “Seller Division Services”) to such Seller Customers. Purchaser further agrees that if Purchaser enters into an agreement with any
Seller Customer after the Closing Date that Seller should retain some benefit. Therefore, in the event that Purchaser, or any of its affiliates, enters into an agreement with any Seller Customer (such agreement, along with any amendments or renewals
thereto or thereof being a “Qualifying Agreement”) during the period (i) beginning on the Closing Date and ending on the six month anniversary thereof, Seller shall be entitled to 40% of all gross revenues earned by Purchaser under
such Qualifying Agreement, and (ii) after the end of the six month anniversary of the Closing Date and on or prior to the 12 month anniversary of the Closing Date, Seller shall be entitled to 20% of all gross revenues earned by Purchaser under
such Qualifying Agreement; provided, however, with respect to any Qualifying Agreement entered into with Plant Advanced Technologies and/or Estee Lauder, during the period beginning on the Closing Date and ending ninety days
thereafter, Seller shall be entitled to 80% of all gross revenues earned by Purchaser under such Qualifying Agreement, and (y) more than ninety days from the Closing Date, Seller shall be entitled to receive gross revenues in accordance with
subsections (i) and (ii) of this Section 4.11. 
 b. No later than fifteen calendar days following the end of each calendar
quarter, Purchaser shall prepare and deliver to Seller a written statement (a “Calculation Statement”) containing Purchaser’s calculation of amounts due to Seller under this Section 4.11 with respect to such calendar quarter
along with a check in an amount equal to the amount set forth on such Calculation Statement. 
 c. Purchaser shall maintain complete and
accurate records regarding all Qualifying Agreements, and shall retain such records for a period of at least two years. During such period, all such records shall be made available for inspection and copying by Seller (or Seller’s designee) at
Seller’s expense during normal business hours upon at least five business day’s prior notice to Purchaser. Seller may cause such records of Purchaser to be audited at Seller’s expense upon reasonable notice. If any inspection or audit
reveals a deficiency in the amounts paid to Seller under this Section 4.11 for any period under audit (an “Audit Deficiency”), Purchaser shall pay such Audit Deficiency within five business days of Seller’s notice to Purchaser of
the Audit Deficiency. If the Audit Deficiency is five percent (5%) or more of the aggregate amount paid to Seller for such audit period, Purchaser shall also reimburse Seller for all costs and expenses incurred by Seller in connection with such
audit. 

  
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 ARTICLE V 
 LIABILITIES AND OBLIGATIONS 
 5.01 Assumed Liabilities. Except for the Assumed
Liabilities (hereinafter defined), this Agreement is intended as and shall be deemed to be an agreement for the purchase and sale of the Assets, and none of the provisions of this Agreement shall be deemed to create any liability or obligation of
Purchaser to any person or entity that is not a party to this Agreement, whether under a third-party beneficiary theory, successor liability theory, or otherwise. Purchaser shall , as a result of the consummation of this Agreement, assume,
discharge, or become liable for the following liabilities, obligations, debts, contracts, or other commitments of Seller, whether fixed, accrued, contingent, or otherwise (the “Assumed Liabilities”): 

(a) (i) all trade payables and similar obligations and liabilities of the Seller listed on Schedule 5.01(a), (ii) trade payables and
other payables (including note payments) incurred by Seller in the ordinary course of business of the Divisions prior to the Closing Date which remain outstanding as of the Closing Date in an amount not to exceed $10,000; 

(b) all obligations and liabilities under Contracts and Permits and other agreements of the Seller which relate to the business of the Divisions as shown
in Schedule 2.07, whether such obligations arose prior to, at or after the Closing Date) (and without limiting the foregoing this shall include performance of contractual obligations which have been prepaid on a subscription basis, including all,
warranties, guarantees and other obligations to customers of the business of the Divisions); unless the same would constitute a breach of Seller’s representations or warranties hereunder; 

(c) all accrued vacation pay of employees of the business of the Divisions (whether or not such employees are hired by Purchaser) as of the Closing Date
as specified in Schedule 5.01(c); 
 (d) all obligations and liabilities with respect to the Lease as set out on Schedule 2.04;

 (e) all obligations or liabilities relating to the Assets(including without limitation the condition, 

performance or use prior) thereof (unless such obligations also create a breach under a representation or warranty of Seller hereunder); 

(f) Taxes (as defined in Section 5.02) which relate in any way to the receivables included in the assets purchased hereunder (the “Assumed
Receivables”) or other Assumed Liabilities; and 
 (g) all obligations and liabilities relating to the business of the Divisions purchased
by the Purchaser (unless resulting from an act of Seller subsequent to the Closing Date) arising after, accruing after, or resulting from, any event, condition or circumstance whatsoever occurring on or after the Closing Date. 

5.02 Retained Liabilities and Obligations. Seller shall retain, perform and discharge any and all of the following liabilities and obligations
related to the Assets, to the business of the Divisions and/or to Seller (the “Retained Liabilities”):, and Seller will satisfy each of the following liabilities or obligations as it becomes due, including, but not limited to: 

(a) any liability, obligation or expense of Seller arising out of or incidental to the consummation of the transactions contemplated in this Agreement;

  
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 (b) any liability for income taxes (whether federal, state, local or foreign) or other taxes on or measured
by income, gross receipts, profits or occupations, franchise taxes, excise taxes, employment taxes, unemployment taxes, payroll taxes, employee taxes, employer taxes, sales and use taxes, real property taxes, personal property taxes (including any
liability for personal property taxes accruing, arising or in any way resulting from, or determined with respect to, or in any way relating to or referenced by, any period prior to the Closing Date, including but not limited to, taxes arising as a
result of the transfer of the Assets or otherwise by virtue of the consummation of the transactions contemplated in this Agreement, and any other tax or taxes imposed which relate to periods prior to the Closing Date, whether or not assessed (or any
penalties or assessments with respect to any Plan), by any federal, state, municipal, local or other governmental agency, foreign or domestic, including assessments in the nature of taxes, including interest and penalties on any of the foregoing,
(collectively, “Tax” or “Taxes”) of Seller except Taxes relating to the Assumed Receivables; 
 (c) any liability or
obligation with respect to any claim, action, suit or demand against Seller or any legal, administrative or other proceeding or judgment against Seller with respect to any act or omission where the initial event or events giving rise to the same
occurred on or prior to the Closing Date, other than (i) accrued vacation pay for employees of Seller, (ii) obligations to perform tinder Contracts and Permits, (iii) obligations or liabilities relating to the Assets (including
without limitation the condition, performance or use prior) thereof (unless such obligations also create a breach under a representation or warranty of Seller hereunder) and other Assumed Liabilities; 

(d) any indebtedness to any bank(s), financial institution(s) or other parties with respect to the borrowing of money by the Seller; 

(e) any liability or obligation to employees resulting from death, injury or loss suffered or incurred in the course of employment or resulting from any
act or omission where the initial event or events giving rise to such liability or obligation occurred on or prior to the Closing Date; and 

(f) any liability or obligation to employees arising out of their dismissal from service other than accrued vacation pay and payment of wages and
withholding through the date of termination. 
 ARTICLE VI 

CLOSING DELIVERIES OF PURCHASER 
 6.01 Closing Deliveries. At the Closing, Seller shall deliver the following to Purchaser: 

(a) Transfer Documents. A Bill of Sale Assignment and Assumption Agreement. 
 (b) Resolutions. copies, certified by the board of directors of Seller, authorizing the execution, delivery and performance of this Agreement and all other agreements, documents and instruments
relating hereto and the consummation of the transactions contemplated in this Agreement, which certification shall recite that such resolutions have not been subsequently amended, modified or rescinded and are in full force and effect. 

(c) Termination Statements. Termination Statements and/or such other instruments executed by all appropriate third parties, demonstrating that the
Assets are free and clear of all Liens. 
 (d) Certificate of Good Standing. Seller shall obtain and provide a certificate of good
standing in the State of Delaware and England. 
 (e) Consents. The Obtained Consents. 

  
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 ARTICLE VII 
 CLOSING DELIVERIES OF SELLER 
 7.01 Closing Deliveries. at the Closing, Seller shall
deliver the following to Purchaser: 
 (a) Payments. Purchaser shall deliver the Purchase Price. 

(b) Conveyance Documents. a counter-executed copy of the Bill of Sale Assignment and Assumption. 

(c) Resolutions. Purchaser shall provide copies, certified by the Secretary or Assistant Secretary of Purchaser, of resolutions of
Purchaser’s board of directors authorizing the execution, delivery and performance of this Agreement and all other agreements, documents and instruments relating hereto and the consummation of the transactions contemplated in this Agreement,
which certification shall recite that such resolutions have not been subsequently amended, modified or rescinded and are in full force and effect. 
 ARTICLE VIII 
 INDEMNIFICATION 

8.01 Seller’s Indemnification. Seller , agrees to indemnify, defend and hold Purchaser, its directors, officers, employees, subsidiaries and
affiliates, and the successors and assigns of any of the foregoing (“Purchaser’s Indemnities”) harmless from and against any and all claims, liabilities, obligations, demands, orders, damages, losses, costs, expenses (including
reasonable attorneys’ fees and expenses), fines, penalties, judgments and amounts paid in settlement imposed on, asserted against or incurred by Purchaser’s Indemnities (collectively, “Purchaser’s Loss(es)”) in an amount not
to exceed the amounts paid towards the Purchase Price, and within two years of the closing date,and which arise out of, in connection with, result from or are incident to any of the following: 

 

	(a)	any misrepresentation or breach of any representation, warranty, covenant, obligation or agreement of Seller or any Stockholder in this Agreement or in any Schedule,
document or agreement furnished or to be furnished by Seller under this Agreement; 

  

	(b)	any claims, demands, suits, investigations, proceedings or actions by any third party containing or relating to allegations that, if true, would constitute a breach of,
or misstatement in, any one of the representations and warranties contained in Article II; 

  

	(c)	any Retained Liabilities; 

  

	(d)	any and all claims, liabilities, obligations, demands, orders, damages, losses, costs, expenses(including, without limitation, attorneys’ and consultants’
fees and expenses), fines, penalties, judgments and amounts paid in settlement, and all costs and expenses for any removal, remediation, or investigative action arising out of or attributable to (i) Seller’s or its predecessors’
release, threat of release, generation, treatment, transport, recycling or storage of any Hazardous Substance or Hazardous Waste or arising out of or attributable to Seller’s or its predecessors’ arrangements for any of the foregoing, or
(ii) Seller’s or its predecessor’s use, maintenance, ownership or operation of the Assets, the business of the Divisions and/or its operations, including but not limited to, any and all liabilities related to any violations of any
Environmental Law, such as CERCLA, RCRA and TSCA, as now in effect or as may be amended, modified, enacted, adopted or otherwise become applicable. 

 8.02 Purchaser’s Indemnification. Purchaser agrees to indemnify, defend and hold Seller, its directors, officers, employees, subsidiaries and affiliates, and the successors and assigns of any
of the foregoing 

  
 14 

 
(“Seller’s Indemnities”) harmless from and against any and all claims, liabilities, obligations, demands, damages, losses, costs, expenses (including reasonable attorneys’
fees and expenses), fines, penalties, judgments and amounts paid in settlement, imposed on, asserted against or incurred by Seller’s Indemnities and which arise out of, in connection with, result from or are incident to any of the following:

  

	(a)	any misrepresentation or breach of any representation, warranty, covenant, obligation or agreement of Purchaser in this Agreement or in any document or agreement
furnished or to be furnished by Purchaser under this Agreement; and 

  

	(b)	any Assumed Liabilities 

 8.03 Amount of
Indemnified Claims. Certain Agreements Relating to Claims. The parties shall use reasonable efforts to collect the proceeds of any insurance which would have the effect of reducing an indemnified loss (a “Loss”) under this Article and,
if indemnification payments shall have been received prior to the collection of such proceeds, shall remit to the indemnifying party the amount of such proceeds (net of the cost of collection thereof) to the extent of indemnification payments
received in respect of such Loss. To the extent any Loss of an indemnified party is reduced by receipt of payment (i) under insurance policies which are not subject to retroactive adjustment or other reimbursement to the insurer in respect of
such payment, or (ii) from third parties not affiliated with the indemnified party, such payments (net of the expenses of the recovery thereof) shall be credited against such Loss. The indemnifying party shall be subrogated to the indemnified
party’s rights of recovery to the extent of any Loss satisfied by the indemnifying party. The indemnified party shall execute and deliver such instruments and papers as are necessary to assign such rights and assist in the exercise thereof.
Notwithstanding anything to the contrary herein, in no event shall an indemnifying party be responsible for Losses under any provision of this Agreement in excess of the indemnified party’s direct, out-of-pocket damages without regard to
damages based upon enterprise value or multiples thereof, or any other consequential damages of any kind. 
 8.04 Claims for
Indemnification. Any party seeking indemnification under the provisions of this Agreement, within ninety (90) days of the time it discovers that it has a claim against another party (a “Personal Claim”) or promptly upon receipt of
written notice of any claim or the service of a summons or other initial legal process upon it in any action instituted against it which relates to this Agreement (a “Third-Party Claim”), shall give written notice of such claim, or the
commencement of such action, to the party from whom indemnification will be sought hereunder. Notwithstanding the foregoing, in the event of any failure or delay by Purchaser to give the notice set forth above, Seller’s Indeninitees’
obligations hereunder shall be voided only to the extent Seller’s Indemnitees have been materially prejudiced by such failure or delay. 

(a) Third Party Claim. In the event of a Third-Party Claim, the party seeking indemnification (“Tendering Party”) shall tender the
defense of such Third Party Claim to the party from whom indemnification is sought (“Non-Tendering Party”). The Non-Tendering Party shall, within ten (10) days of the receipt thereof, inform the Tendering Party in writing that the
Non-Tendering Party will either: 
 (i) Accept the Tender of the Defense Without a Reservation of Rights. If the
Non-Tendering Party agrees that the Third Party Claim is a claim for which indemnification is provided for pursuant to the terms of this Agreement (“Proper Claim”), the Non-Tendering Party shall accept the tender of the defense without a
reservation of rights. In such an event the NonTendering Party shall control all aspects of the defense of such Third Party Claim and shall indemnify the Tendering Party in accordance with this Article VIII. 

(ii) Accept the Tender of the Defense With a Reservation of Rights. If the Non-Tendering Party questions whether the Third Party
Claim is a Proper Claim, the Non-Tendering Party may accept the tender of the defense with a reservation of rights. In such an event, the Non-Tendering Party shall submit such Third Party Claim to arbitration immediately in order determine whether
it is a Proper Claim. While the arbitration is pending, the Non-Tendering Party shall control all aspects of the defense of such Third Party Claim. If the decision of the arbitrator(s) is that it is: 

 

	 	(A)	a Proper Claim, and the Third Party Claim is still pending, the Non-Tendering Party shall continue the defense of such Third Party Claim and shall defend, indemnify and
hold the Tendering Party harmless in accordance with this Article VIII; 

  
 15 

	 	(B)	a Proper Claim, but the Third Party Claim has already been concluded, the Non-Tendering Party shall indemnify and hold the Tendering Party harmless in accordance with
this Article VIII; 

  

	 	(C)	a claim for which indemnification is not provided for pursuant to the terms of this Agreement (“Improper Claim”), and the Third Party Claim is still pending,
the Non-Tendering Party shall return all aspects of the defense of such Third Party Claim immediately to the Tendering Party. In such an event, the Tendering Party shall assume the control of all aspects of the defense of such Third Party Claim
immediately and shall reimburse the Non-Tendering Party for all costs and expenses (including, but not limited to, reasonable attorneys fees) incurred by the NonTendering Party in the defense of such Third Party Claim; or 

 

	 	(D)	An Improper Claim, but the Third Party Claim has already been concluded, the Tendering Party shall reimburse the Non-Tendering Party for all costs and expenses
(including, but not limited to reasonable attorneys fees) incurred by the NonTendering Party in the defense of such Third Party Claim and shall reimburse the Non-Tendering Party for all amounts paid by the Non-Tendering Party for judgments or
settlements relating to such Third Party Claim. 

 (iii) Reject the Tender of the Defense. If the
Non-Tendering Party decides that the Third Party Claim is an Improper Claim, the Non-Tendering Party shall reject the tender of the defense. In such an event, the Non-Tendering Party shall submit such Third Party Claim to arbitration immediately in
order determine whether it is a Proper Claim. While the arbitration is pending, the Tendering Party shall control all aspects of the defense of such Third Party Claim. If the decision of the arbitrator(s) is that it is: 

 

	 	(A)	A Proper Claim, and the Third Party Claim is still pending, the Tendering Party shall transfer the control of all aspects of the defense of such Third Party Claim to
the Non-Tendering Party. The Non-Tendering Party shall assume the defense of such Third Party Claim immediately and shall reimburse the Tendering Party for all costs and expenses (including, but not limited to, reasonable attorneys fees) incurred by
the Tendering Party in the defense of such Third Party Claim and shall defend, indemnify and hold the Tendering Party harmless in accordance with this Article VIII; 

 

	 	(B)	Proper Claim, but the Third Party Claim has already been concluded, the Non-Tendering Party shall indemnify and hold the Tendering Party harmless in accordance with
this Article VIII; 

  

	 	(C)	An Improper Claim, and the Third Party Claim is still pending, the Tendering Party shall continue to control all aspects of the defense of such Third Party Claim; or

  

	 	(D)	An Improper Claim, but the Third Party Claim has already been concluded, the Tendering Party shall bear all Losses incurred by the Tendering Party relating to such
Third Party Claim. 

  

	(b)	 Personal Claim. In the event of a Personal Claim, the party from whom indemnification is sought (“Indemnifying Party”) shall, within
thirty (30) days of the receipt of the claim for indemnification, send written notice to the party seeking indemnification (“Indemnified Party”) indicating whether the claim is disputed. If the

  
 16 

	 	
claim is disputed, the Indemnifying Party shall submit the matter to arbitration in order to determine if it is a Proper Claim and, if it is a Proper Claim, to determine the amount of such claim.
To the extent that the arbitrator(s) rules that a Personal Claim is a Proper Claim and/or to the extent that a Personal Claim is not disputed, the Indemnifying Party shall promptly indemnify the Indemnified Party in accordance with this Article
VIII. 

 8.05 Arbitration Procedure. Any arbitration conducted pursuant to this Article VIII shall be conducted in the State
of Florida, by an arbitrator acceptable to both Seller and Purchaser, or in the event Seller and Purchaser cannot agree on a single arbitrator within ten (10) days of any such written demand, by three arbitrators, one of whom shall be appointed
by Seller, one of whom shall be appointed by Purchaser and the third of whom shall be appointed by the first two arbitrators. If either party fails to appoint an arbitrator within ten (10) days of the written demand for arbitration identified
above, which failure is not cured within five (5) days of such party’s receipt of written notice from the other party describing such failure and requesting the appointment of an arbitrator, then the arbitrator appointed by the other party
shall arbitrate any such disagreements in accordance with this Section 8.04. Except as to the selection of arbitrators as set forth herein, the arbitration proceedings shall be conducted promptly and expeditiously pursuant to the rules
of the American Arbitration Association. The decision of the arbitrator(s) shall be final, conclusive and binding upon Seller and Purchaser. Seller and Purchaser shall share equally the expenses of a single arbitrator and the arbitration, or in the
event the parties cannot agree upon a single arbitrator, each party shall bear the expenses of its arbitrator and shall share equally with the other the expenses of a third arbitrator and the arbitration. If a party is required to submit a matter to
arbitration pursuant to Section 8.03, and such party fails or refuses to so within ten (10) days, the other party may submit the matter to arbitration. In any matter which is submitted to arbitration pursuant to this Article VIII, the
party seeking indemnification shall bear the burden of proof. The prevailing party shall be entitled to receive from the indemnifying party all sums due under the indemnification provisions, if any, plus all costs and reasonable attorneys’ fees
incurred by the prevailing party relating to the arbitration. 
 8.06 Limitations on Claims. No indemnified party hereunder shall be
entitled to indemnification for any Losses pursuant to this Article unless the amount of such indemnified party’s Losses shall individually or in the aggregate exceed a minimum amount of $10,000. 

ARTICLE IX –Intentionally Left Blank. 
 ARTICLE X 
 CLOSING 

The closing of the purchase and sale of the Assets and the other transactions contemplated pursuant to this Agreement (the
“Closing”) shall take place as of the Effective Date of this Agreement by the parties, (the “Closing Date”), by facsimile, mail, and electronic mail or at such other place or in such other manner as may be mutually agreed upon by
the parties. The parties will in good faith use all reasonable efforts to achieve the Closing. 
 ARTICLE XI 

BULK SALES 

Waiver of Bulk-Sales Law Compliance. The Purchaser hereby waives compliance by the Seller with any applicable bulk-sales laws.

 ARTICLE XII 
 EXPENSES 
 Purchaser and Seller will bear their own respective expenses,
including, without limitation, counsel and accountants’ fees, in connection with the preparation and negotiation of, and transactions contemplated under, this Agreement. 

  
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 ARTICLE XIII 
 MISCELLANEOUS 
 14.01 Notices. Any notices, requests, claims, demands, instructions
and other communications to be given hereunder to either party shall be in writing and delivered in person, sent by certified mail, postage prepaid, return receipt requested, or by facsimile transmission with a confirmed telephonic transmission
answer back, to the following addresses (or at such other address or number as is given in writing by other party to the other pursuant hereto): 
  

			
	If to Seller	  	
		  	Innovaro, Inc.
		  	2109 East Palm Ave
		  	Tampa Florida 33605
		
	with a copy to:	  	Sam Reiber
		  	2109 East Palm Avenue
		  	Tampa, FL 33605
		
	and with an additional copy to:	  	Robert Warchola
		  	Shumaker, Loop & Kendrick, LLP
		  	101 E. Kennedy Blvd., Suite 2800
		  	Tampa, FL 33602
		
	If to Purchaser:	  	IP Technology Exchange, Inc.
		  	Keith Witter
		  	8009 34th Avenue South, Ste 350
		  	Bloomington, MN 55425

 with a copy to: 

14.02 Amendments. This Agreement may be amended only upon the mutual written consent of the parties hereto. 

14.03 Duplicates, Originals Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all
of which together shall constitute one and the same agreement. 
 14.04 Entire Agreement. This Agreement, including the Schedules and
Exhibits hereto, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings between the parties. There are no representations, warranties, undertakings or
agreements between the parties with respect to the subject matter of this Agreement except as set forth herein. 

  
 18 

 14.05 Assignability. Either of the parties hereto may assign its rights, interests, obligations or
liabilities under this Agreement or delegate its duties without the prior written consent of the other party. 
 14.06 Headings. The
headings contained in this Agreement are for convenience of reference only and shall not affect the interpretation of this Agreement. 
 14.07
Governing Law. This Agreement shall be governed and construed in accordance with the internal laws of the State of Florida. 
 14.08
Remedies. No remedy conferred by any of the specific provisions of this Agreement is intended to be exclusive of any other remedy, and each and every remedy will be cumulative and will be in addition to every remedy given under this Agreement
or now or subsequently existing, at law or in equity, by statue or otherwise. The election of any one or more remedies by Purchaser or Seller will not constitute a waiver of the right to pursue other available remedies. Nothing expressed or implied
in this Agreement is intended or will be construed to confer upon or give any person, firm or corporation, other than the parties hereto, any rights or remedies under or by reason of this Agreement or any transaction contemplated hereby 

14.09 Counterparts. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each
of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. A facsimile or photocopy of a counterpart shall be considered the same as an original. This Agreement may be
delivered by facsimile transmission. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first
stated above. 

  
 19 

			
	SELLER:
	Innovaro Inc., a Delaware Corporation
		
	By:	 	 /S/ Asa Lanum

		
	Its:	 	 Chief Executive Officer

	
	SELLER:
	Innovaro Europe, Ltd.
		
	By:	 	 /S/ Mark McBride

		
	Its:	 	 Managing Director

	
	PURCHASER:
	IP Technology Exchange, Inc.
		
	By:	 	 /S/ Keith Witter

		
	Its:	 	 President

  
 20Form of Indenture

 Exhibit 4.8 

 
  
 OREXIGEN THERAPEUTICS, INC. 
  

 
 INDENTURE

 Dated as of
                         , 20     

 
  

[Name of Trustee] 
 Trustee 
  
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
			
	 Section 1.1.
	  	Definitions	  	 	1	  
	 Section 1.2.
	  	Other Definitions	  	 	4	  
	 Section 1.3.
	  	Incorporation by Reference of Trust Indenture Act	  	 	5	  
	 Section 1.4.
	  	Rules of Construction	  	 	5	  
		
	 ARTICLE II. THE SECURITIES
	  	 	5	  
			
	 Section 2.1.
	  	Issuable in Series	  	 	5	  
	 Section 2.2.
	  	Establishment of Terms of Series of Securities	  	 	6	  
	 Section 2.3.
	  	Execution and Authentication	  	 	8	  
	 Section 2.4.
	  	Registrar and Paying Agent	  	 	9	  
	 Section 2.5.
	  	Paying Agent to Hold Money in Trust	  	 	10	  
	 Section 2.6.
	  	Securityholder Lists	  	 	10	  
	 Section 2.7.
	  	Transfer and Exchange	  	 	10	  
	 Section 2.8.
	  	Mutilated, Destroyed, Lost and Stolen Securities	  	 	11	  
	 Section 2.9.
	  	Outstanding Securities	  	 	11	  
	 Section 2.10.
	  	Treasury Securities	  	 	12	  
	 Section 2.11.
	  	Temporary Securities	  	 	12	  
	 Section 2.12.
	  	Cancellation	  	 	12	  
	 Section 2.13.
	  	Defaulted Interest	  	 	13	  
	 Section 2.14.
	  	Global Securities	  	 	13	  
	 Section 2.15.
	  	CUSIP Numbers	  	 	14	  
		
	 ARTICLE III. REDEMPTION
	  	 	14	  
			
	 Section 3.1.
	  	Notice to Trustee	  	 	14	  
	 Section 3.2.
	  	Selection of Securities to be Redeemed	  	 	14	  
	 Section 3.3.
	  	Notice of Redemption	  	 	15	  
	 Section 3.4.
	  	Effect of Notice of Redemption	  	 	16	  
	 Section 3.5.
	  	Deposit of Redemption Price	  	 	16	  
	 Section 3.6.
	  	Securities Redeemed in Part	  	 	16	  
		
	 ARTICLE IV. COVENANTS
	  	 	16	  
			
	 Section 4.1.
	  	Payment of Principal and Interest	  	 	16	  
	 Section 4.2.
	  	SEC Reports	  	 	16	  
	 Section 4.3.
	  	Compliance Certificate	  	 	17	  
	 Section 4.4.
	  	Stay, Extension and Usury Laws	  	 	17	  
	 Section 4.5.
	  	Corporate Existence	  	 	17	  
		
	 ARTICLE V. SUCCESSORS
	  	 	18	  

  
 i 

							
			
	 Section 5.1.
	  	When Company May Merge, Etc.	  	 	18	  
	 Section 5.2.
	  	Successor Corporation Substituted	  	 	18	  
		
	 ARTICLE VI. DEFAULTS AND REMEDIES
	  	 	18	  
			
	 Section 6.1.
	  	Events of Default	  	 	18	  
	 Section 6.2.
	  	Acceleration of Maturity; Rescission and Annulment	  	 	20	  
	 Section 6.3.
	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	20	  
	 Section 6.4.
	  	Trustee May File Proofs of Claim	  	 	21	  
	 Section 6.5.
	  	Trustee May Enforce Claims Without Possession of Securities	  	 	22	  
	 Section 6.6.
	  	Application of Money Collected	  	 	22	  
	 Section 6.7.
	  	Limitation on Suits	  	 	22	  
	 Section 6.8.
	  	Unconditional Right of Holders to Receive Principal and Interest	  	 	23	  
	 Section 6.9.
	  	Restoration of Rights and Remedies	  	 	23	  
	 Section 6.10.
	  	Rights and Remedies Cumulative	  	 	23	  
	 Section 6.11.
	  	Delay or Omission Not Waiver	  	 	24	  
	 Section 6.12.
	  	Control by Holders	  	 	24	  
	 Section 6.13.
	  	Waiver of Past Defaults	  	 	24	  
	 Section 6.14.
	  	Undertaking for Costs	  	 	24	  
		
	 ARTICLE VII. TRUSTEE
	  	 	25	  
			
	 Section 7.1.
	  	Duties of Trustee	  	 	25	  
	 Section 7.2.
	  	Rights of Trustee	  	 	26	  
	 Section 7.3.
	  	Individual Rights of Trustee	  	 	27	  
	 Section 7.4.
	  	Trustee’s Disclaimer	  	 	27	  
	 Section 7.5.
	  	Notice of Defaults	  	 	28	  
	 Section 7.6.
	  	Reports by Trustee to Holders	  	 	28	  
	 Section 7.7.
	  	Compensation and Indemnity	  	 	28	  
	 Section 7.8.
	  	Replacement of Trustee	  	 	29	  
	 Section 7.9.
	  	Successor Trustee by Merger, Etc.	  	 	30	  
	 Section 7.10.
	  	Eligibility; Disqualification	  	 	30	  
	 Section 7.11.
	  	Preferential Collection of Claims Against Company	  	 	30	  
		
	 ARTICLE VIII. SATISFACTION AND DISCHARGE; DEFEASANCE
	  	 	30	  
			
	 Section 8.1.
	  	Satisfaction and Discharge of Indenture	  	 	30	  
	 Section 8.2.
	  	Application of Trust Funds; Indemnification	  	 	31	  
	 Section 8.3.
	  	Legal Defeasance of Securities of any Series	  	 	32	  
	 Section 8.4.
	  	Covenant Defeasance	  	 	33	  
	 Section 8.5.
	  	Repayment to Company	  	 	34	  
	 Section 8.6.
	  	Reinstatement	  	 	35	  
		
	 ARTICLE IX. AMENDMENTS AND WAIVERS
	  	 	35	  
			
	 Section 9.1.
	  	Without Consent of Holders	  	 	35	  
	 Section 9.2.
	  	With Consent of Holders	  	 	36	  
	 Section 9.3.
	  	Limitations	  	 	36	  

  
 ii 

							
	 Section 9.4.
	  	Compliance with Trust Indenture Act	  	 	37	  
	 Section 9.5.
	  	Revocation and Effect of Consents	  	 	37	  
	 Section 9.6.
	  	Notation on or Exchange of Securities	  	 	37	  
	 Section 9.7.
	  	Trustee Protected	  	 	37	  
		
	 ARTICLE X. MISCELLANEOUS
	  	 	38	  
			
	 Section 10.1.
	  	Trust Indenture Act Controls	  	 	38	  
	 Section 10.2.
	  	Notices	  	 	38	  
	 Section 10.3.
	  	Communication by Holders with Other Holders	  	 	39	  
	 Section 10.4.
	  	Certificate and Opinion as to Conditions Precedent	  	 	39	  
	 Section 10.5.
	  	Statements Required in Certificate or Opinion	  	 	39	  
	 Section 10.6.
	  	Rules by Trustee and Agents	  	 	40	  
	 Section 10.7.
	  	Legal Holidays	  	 	40	  
	 Section 10.8.
	  	No Recourse Against Others	  	 	40	  
	 Section 10.9.
	  	Counterparts	  	 	40	  
	 Section 10.10.
	  	Governing Law	  	 	40	  
	 Section 10.11.
	  	No Adverse Interpretation of Other Agreements	  	 	40	  
	 Section 10.12.
	  	Successors	  	 	41	  
	 Section 10.13.
	  	Severability	  	 	41	  
	 Section 10.14.
	  	Table of Contents, Headings, Etc.	  	 	41	  
	 Section 10.15.
	  	Securities in a Foreign Currency	  	 	41	  
	 Section 10.16.
	  	Judgment Currency	  	 	41	  
	 Section 10.17.
	  	Force Majeure	  	 	42	  
		
	 ARTICLE XI. SINKING FUNDS
	  	 	42	  
			
	 Section 11.1.
	  	Applicability of Article	  	 	42	  
	 Section 11.2.
	  	Satisfaction of Sinking Fund Payments with Securities	  	 	43	  
	 Section 11.3.
	  	Redemption of Securities for Sinking Fund	  	 	43	  

  
 iii

 OREXIGEN THERAPEUTICS, INC. 

Reconciliation and tie between Trust Indenture Act of 1939 and 
 Indenture, dated as of                     , 20     

 

					
	 Section 310(a)(1)
	 		  	7.10
	 (a)(2)
	 		  	7.10
	 (a)(3)
	 		  	Not Applicable
	 (a)(4)
	 		  	Not Applicable
	 (a)(5)
	 		  	7.10
	 (b)
	 		  	7.10
	 Section 311(a)
	 		  	7.11
	 (b)
	 		  	7.11
	 (c)
	 		  	Not Applicable
	 Section 312(a)
	 		  	2.6
	 (b)
	 		  	10.3
	 (c)
	 		  	10.3
	 Section 313(a)
	 		  	7.6
	 (b)(1)
	 		  	7.6
	 (b)(2)
	 		  	7.6
	 (c)(1)
	 		  	7.6
	 (d)
	 		  	7.6
	 Section 314(a)
	 		  	4.2, 10.5
	 (b)
	 		  	Not Applicable
	 (c)(1)
	 		  	10.4
	 (c)(2)
	 		  	10.4
	 (c)(3)
	 		  	Not Applicable
	 (d)
	 		  	Not Applicable
	 (e)
	 		  	10.5
	 (f)
	 		  	Not Applicable
	 Section 315(a)
	 		  	7.1
	 (b)
	 		  	7.5
	 (c)
	 		  	7.1
	 (d)
	 		  	7.1
	 (e)
	 		  	6.14
	 Section 316(a)
	 		  	2.10
	 (a)(1)(A)
	 		  	6.12
	 (a)(1)(B)
	 		  	6.13
	 (b)
	 		  	6.8
	 Section 317(a)(1)
	 		  	6.3
	 (a)(2)
	 		  	6.4
	 (b)
	 		  	2.5
	 Section 318(a)
	 		  	10.1

  

Note:    This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture. 

  
 iv 

 Indenture dated as of
                         , 20     between Orexigen Therapeutics, Inc., a Delaware corporation
(“Company”), and [Name of Trustee], a
                                        ,
(“Trustee”). 
 Each party agrees as follows for the benefit of the other party and for the equal and ratable
benefit of the Holders of the Securities issued under this Indenture. 
 ARTICLE I. 

DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.1. Definitions. 
 “Additional Amounts” means any
additional amounts which are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the Company in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such
Holders. 
 “Affiliate” of any specified person means any other person directly or indirectly controlling or
controlled by or under common control with such specified person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used
with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities or by agreement or
otherwise. 
 “Agent” means any Registrar, Paying Agent, or Notice Agent. 

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

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

“Business Day” means, unless otherwise provided by Board Resolution, Officer’s Certificate or supplemental
indenture hereto for a particular Series, any day except a Saturday, Sunday or a legal holiday in The City of New York (or in connection with any payment, the place of payment) on which banking institutions are authorized or required by law,
regulation or executive order to close. 
 “Capital Stock” means any and all shares, interests, participations,
rights or other equivalents (however designated) of corporate stock. 
 “Company” means the party named as such
above until a successor replaces it and thereafter means the successor. 

 “Company Order” means a written order signed in the name of the Company by
an Officer. 
 “Corporate Trust Office” means the office of the Trustee at which at any particular time its
corporate trust business related to this Indenture shall be principally administered. 
 “Default” means any
event which is, or after notice or passage of time or both would be, an Event of Default. 
 “Depositary”
means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of one or more Global Securities, the person designated as Depositary for such Series by the Company, which Depositary shall be a clearing agency
registered under the Exchange Act; and if at any time there is more than one such person, “Depositary” as used with respect to the Securities of any Series shall mean the Depositary with respect to the Securities of such Series.

 “Discount Security” means any Security that provides for an amount less than the stated principal amount
thereof to be due and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2. 

“Dollars” and “$” means the currency of The United States of America. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Foreign Currency” means any currency or currency unit issued by a government other than the government of The United
States of America. 
 “Foreign Government Obligations” means with respect to Securities of any Series that are
denominated in a Foreign Currency, direct obligations of, or obligations guaranteed by, the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged and which are not
callable or redeemable at the option of the issuer thereof. 
 “GAAP” means accounting principles generally
accepted in the United States of America set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect as of the date of determination. 

“Global Security” or “Global Securities” means a Security or Securities, as the case may be, in the
form established pursuant to Section 2.2 evidencing all or part of a Series of Securities, issued to the Depositary for such Series or its nominee, and registered in the name of such Depositary or nominee. 

“Holder” or “Securityholder” means a person in whose name a Security is registered. 

  
 2 

 “Indenture” means this Indenture as amended or supplemented from time to
time and shall include the form and terms of particular Series of Securities established as contemplated hereunder. 

“interest” with respect to any Discount Security which by its terms bears interest only after Maturity, means interest
payable after Maturity. 
 “Maturity,” when used with respect to any Security, means the date on which the
principal of such Security becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

“Officer” means the Chief Executive Officer, President, the Chief Financial Officer, the Treasurer or any Assistant
Treasurer, the Secretary or any Assistant Secretary, and any Vice President of the Company. 
 “Officer’s
Certificate” means a certificate signed by any Officer. 
 “Opinion of Counsel” means a written
opinion of legal counsel who is acceptable to the Trustee. The counsel may be an employee of or counsel to the Company. 

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

“principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any
Additional Amounts in respect of, the Security. 
 “Responsible Officer” means any officer of the Trustee in
its Corporate Trust Office having responsibility for administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom any corporate trust matter is referred because of his or her
knowledge of and familiarity with a particular subject. 
 “SEC” means the Securities and Exchange Commission.

 “Securities” means the debentures, notes or other debt instruments of the Company of any Series
authenticated and delivered under this Indenture. 
 “Series” or “Series of Securities” means
each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof. 

“Stated Maturity” when used with respect to any Security, means the date specified in such Security as the fixed date on
which the principal of such Security or interest is due and payable. 
 “Subsidiary” of any specified person
means any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time owned or controlled, directly or indirectly, by such person or one or more of the other Subsidiaries of that person or a combination thereof. 

  
 3 

 “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code §§
77aaa-77bbbb) as in effect on the date of this Indenture; provided , however , that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust
Indenture Act as so amended. 
 “Trustee” means the person named as the “Trustee” in the first
paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each person who is then a Trustee hereunder, and if at
any time there is more than one such person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series. 

“U.S. Government Obligations” means securities which are direct obligations of, or guaranteed by, The United States of
America for the payment of which its full faith and credit is pledged and which are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or trust company as custodian with
respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt, provided that (except as
required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by such
depository receipt. 
 Section 1.2. Other Definitions. 

 

			
	 TERM
	  	DEFINED IN
SECTION
	 “Bankruptcy Law”
	  	6.1
	 “Custodian”
	  	6.1
	 “Event of Default”
	  	6.1
	 “Judgment Currency”
	  	10.16
	 “Legal Holiday”
	  	10.7
	 “mandatory sinking fund payment”
	  	11.1
	 “Market Exchange Rate”
	  	10.15
	 “New York Banking Day”
	  	10.16
	 “Notice Agent”
	  	2.4
	 “optional sinking fund payment”
	  	11.1
	 “Paying Agent”
	  	2.4
	 “Registrar”
	  	2.4
	 “Required Currency”
	  	10.16
	 “successor person”
	  	5.1

  
 4 

 Section 1.3. Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this
Indenture. The following TIA terms used in this Indenture have the following meanings: 
 “Commission” means
the SEC. 
 “indenture securities” means the Securities. 

“indenture security holder” means a Securityholder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor” on the indenture securities means the Company and any successor obligor upon the Securities. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule
under the TIA and not otherwise defined herein are used herein as so defined. 
 Section 1.4. Rules of Construction.

 Unless the context otherwise requires: 

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

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

(c) “or” is not exclusive; 

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

(e) provisions apply to successive events and transactions. 

ARTICLE II. 
 THE
SECURITIES 
 Section 2.1. Issuable in Series. 
 The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of a Series shall
be identical except as may be set forth or determined in the manner provided in a Board Resolution, supplemental indenture or Officer’s Certificate detailing the adoption of the terms thereof pursuant to authority granted under a Board
Resolution. In the 

  
 5 

 
case of Securities of a Series to be issued from time to time, the Board Resolution, Officer’s Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to
authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined. Securities may differ between Series in
respect of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture. 
 Section 2.2. Establishment of Terms of Series of Securities. 
 At or prior
to the issuance of any Securities within a Series, the following shall be established (as to the Series generally, in the case of Subsection 2.2.1 and either as to such Securities within the Series or as to the Series generally in the case of
Subsections 2.2.2 through 2.2.22) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board Resolution, supplemental indenture hereto or Officer’s Certificate: 

2.2.1. the title (which shall distinguish the Securities of that particular Series from the Securities of any other Series) and ranking
(including the terms of any subordination provisions) of the Series; 
 2.2.2. the price or prices (expressed as a percentage
of the principal amount thereof) at which the Securities of the Series will be issued; 
 2.2.3. any limit upon the aggregate
principal amount of the Securities of the Series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities
of the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6); 
 2.2.4. the date or dates on which the principal of the
Securities of the Series is payable; 
 2.2.5. the rate or rates (which may be fixed or variable) per annum or, if applicable,
the method used to determine such rate or rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which
such interest, if any, shall accrue, the date or dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date; 

2.2.6. the place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the
Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be delivered, and the method of such
payment, if by wire transfer, mail or other means; 
 2.2.7. if applicable, the period or periods within which, the price or
prices at which and the terms and conditions upon which the Securities of the Series may be redeemed, in whole or in part, at the option of the Company; 

  
 6 

 2.2.8. the obligation, if any, of the Company to redeem or purchase the Securities of the
Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the Series shall be redeemed
or purchased, in whole or in part, pursuant to such obligation; 
 2.2.9. the dates, if any, on which and the price or prices
at which the Securities of the Series will be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations; 

2.2.10. if other than denominations of $1,000 and any integral multiple thereof, the denominations in which the Securities of the Series
shall be issuable; 
 2.2.11. the forms of the Securities of the Series and whether the Securities will be issuable as Global
Securities; 
 2.2.12. if other than the principal amount thereof, the portion of the principal amount of the Securities of the
Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2; 
 2.2.13.
the currency of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, and if such currency of denomination is a composite currency, the agency or organization, if any, responsible for overseeing such composite
currency; 
 2.2.14. the designation of the currency, currencies or currency units in which payment of the principal of and
interest, if any, on the Securities of the Series will be made; 
 2.2.15. if payments of principal of or interest, if any, on
the Securities of the Series are to be made in one or more currencies or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect to such payments will be determined;

 2.2.16. the manner in which the amounts of payment of principal of or interest, if any, on the Securities of the Series will
be determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index; 

2.2.17. the provisions, if any, relating to any security provided for the Securities of the Series; 

2.2.18. any addition to, deletion of or change in the Events of Default which applies to any Securities of the Series and any change in
the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.2; 
 2.2.19. any addition to, deletion of or change in the covenants set forth in Articles IV or V which applies to Securities of the Series; 

  
 7 

 2.2.20. any Depositaries, interest rate calculation agents, exchange rate calculation
agents or other agents with respect to Securities of such Series if other than those appointed herein; 
 2.2.21. the
provisions, if any, relating to conversion or exchange of any Securities of such Series, including if applicable, the conversion or exchange price, the conversion or exchange period, provisions as to whether conversion or exchange will be mandatory,
at the option of the Holders thereof or at the option of the Company, the events requiring an adjustment of the conversion price or exchange price and provisions affecting conversion or exchange if such Series of Securities are redeemed; and

 2.2.22. any other terms of the Series (which may supplement, modify or delete any provision of this Indenture insofar as it
applies to such Series), including any terms that may be required under applicable law or regulations or advisable in connection with the marketing of Securities of that Series. 

All Securities of any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of
this Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officer’s Certificate referred to above. 
 Section 2.3. Execution and Authentication. 
 An Officer shall sign the
Securities for the Company by manual or facsimile signature. 
 If an Officer whose signature is on a Security no longer holds
that office at the time the Security is authenticated, the Security shall nevertheless be valid. 
 A Security shall not be
valid until authenticated by the manual or facsimile signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 

The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the
Board Resolution, supplemental indenture hereto or Officer’s Certificate, upon receipt by the Trustee of a Company Order. Each Security shall be dated the date of its authentication. 

The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal
amount for such Series set forth in the Board Resolution, supplemental indenture hereto or Officer’s Certificate delivered pursuant to Section 2.2, except as provided in Section 2.8. 

Prior to the issuance of Securities of any Series, the Trustee shall have received and (subject to Section 7.2) shall be fully
protected in relying on: (a) the Board Resolution, supplemental indenture hereto or Officer’s Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the Securities of that
Series or of Securities within that Series, (b) an Officer’s Certificate complying with Section 10.4, and (c) an Opinion of Counsel complying with Section 10.4. 

  
 8 

 The Trustee shall have the right to decline to authenticate and deliver any Securities of
such Series: (a) if the Trustee, being advised by counsel, determines that such action may not be taken lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust committee of
directors and/or vice-presidents or a committee of Responsible Officers shall determine that such action would expose the Trustee to personal liability to Holders of any then outstanding Series of Securities. 

The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may
authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with the Company or an
Affiliate of the Company. 
 Section 2.4. Registrar and Paying Agent. 

The Company shall maintain, with respect to each Series of Securities, at the place or places specified with respect to such Series
pursuant to Section 2.2, an office or agency where Securities of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities of such Series may be surrendered for registration of transfer or
exchange (“Registrar”) and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be delivered (“Notice Agent”). The Registrar shall keep a register with
respect to each Series of Securities and to their transfer and exchange. The Company will give prompt written notice to the Trustee of the name and address, and any change in the name or address, of each Registrar, Paying Agent or Notice Agent. If
at any time the Company shall fail to maintain any such required Registrar, Paying Agent or Notice Agent or shall fail to furnish the Trustee with the name and address thereof, such presentations, surrenders, notices and demands may be made or
served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 

The Company may also from time to time designate one or more co-registrars, additional paying agents or additional notice agents and may
from time to time rescind such designations; provided , however , that no such designation or rescission shall in any manner relieve the Company of its obligations to maintain a Registrar, Paying Agent and Notice Agent in each place so
specified pursuant to Section 2.2 for Securities of any Series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name or address of any such
co-registrar, additional paying agent or additional notice agent. The term “Registrar” includes any co-registrar; the term “Paying Agent” includes any additional paying agent; and the term “Notice
Agent” includes any additional notice agent. The Company or any of its Affiliates may serve as Registrar or Paying Agent. 

  
 9 

 The Company hereby appoints the Trustee the initial Registrar, Paying Agent and Notice Agent
for each Series unless another Registrar, Paying Agent or Notice Agent, as the case may be, is appointed prior to the time Securities of that Series are first issued. 
 Section 2.5. Paying Agent to Hold Money in Trust. 
 The Company shall
require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the benefit of Securityholders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of
principal of or interest on the Series of Securities, and will notify the Trustee in writing of any default by the Company in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by
it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further
liability for the money. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of Securityholders of any Series of Securities all money held by it as Paying Agent.
Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Securities. 
 Section 2.6. Securityholder Lists. 
 The Trustee shall preserve in as
current a form as is reasonably practicable the most recent list available to it of the names and addresses of Securityholders of each Series of Securities and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the
Company shall furnish to the Trustee at least ten days before each interest payment date and at such other times as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and
addresses of Securityholders of each Series of Securities. 
 Section 2.7. Transfer and Exchange. 

Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them
for an equal principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and exchanges, the Trustee shall
authenticate Securities at the Registrar’s request. No service charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may require payment of a sum sufficient to cover
any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6). 

Neither the Company nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of any Series
for the period beginning at the opening of business fifteen days immediately preceding the mailing of a notice of redemption of Securities of that Series selected for redemption and ending at the close of business on the day of such mailing, or
(b) to register the transfer of or exchange Securities of any Series selected, called or being called for redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in part.

  
 10 

 Section 2.8. Mutilated, Destroyed, Lost and Stolen Securities. 

If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in
exchange therefor a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 
 If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity bond as may be
required by each of them to hold itself and any of its agents harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon its request the
Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.

 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company
in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new Security under this
Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.

 Every new Security of any Series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall
constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Securities of that Series duly issued hereunder. 
 The provisions of this Section are
exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

Section 2.9. Outstanding Securities. 
 The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest on a
Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding. 
 If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser.

  
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 If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of
the Company) holds on the Maturity of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to accrue.

 The Company may purchase or otherwise acquire the Securities, whether by open market purchases, negotiated transactions, or
otherwise. A Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security. 

In determining whether the Holders of the requisite principal amount of outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the
date of such determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.2. 
 Section
2.10. Treasury Securities. 
 In determining whether the Holders of the required principal amount of Securities of a
Series have concurred in any request, demand, authorization, direction, notice, consent or waiver, Securities of a Series owned by the Company or any Affiliate of the Company shall be disregarded, except that for the purposes of determining whether
the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver only Securities of a Series that a Responsible Officer of the Trustee knows are so owned shall be so disregarded. 

Section 2.11. Temporary Securities. 
 Until definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be substantially in the
form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee upon receipt of a Company Order shall authenticate
definitive Securities of the same Series and date of maturity in exchange for temporary Securities. Until so exchanged, temporary securities shall have the same rights under this Indenture as the definitive Securities. 

Section 2.12. Cancellation. 
 The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of
transfer, exchange or payment. The Trustee shall cancel all Securities surrendered for transfer, exchange, payment, replacement or cancellation and shall destroy such canceled Securities (subject to the record retention requirement of the Exchange
Act and the Trustee) and deliver a certificate of such cancellation to the Company upon written request of the Company. The Company may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation.

  
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 Section 2.13. Defaulted Interest. 

If the Company defaults in a payment of interest on a Series of Securities, it shall pay the defaulted interest, plus, to the extent
permitted by law, any interest payable on the defaulted interest, to the persons who are Securityholders of the Series on a subsequent special record date. The Company shall fix the record date and payment date. At least 10 days before the special
record date, the Company shall mail to the Trustee and to each Securityholder of the Series a notice that states the special record date, the payment date and the amount of interest to be paid. The Company may pay defaulted interest in any other
lawful manner. 
 Section 2.14. Global Securities. 

2.14.1. Terms of Securities. A Board Resolution, a supplemental indenture hereto or an Officer’s Certificate shall establish
whether the Securities of a Series shall be issued in whole or in part in the form of one or more Global Securities and the Depositary for such Global Security or Securities. 
 2.14.2. Transfer and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.7 of the Indenture and in addition thereto, any Global Security shall be exchangeable
pursuant to Section 2.7 of the Indenture for Securities registered in the names of Holders other than the Depositary for such Security or its nominee only if (i) such Depositary notifies the Company that it is unwilling or unable to
continue as Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to appoint a successor Depositary registered as a clearing
agency under the Exchange Act within 90 days of such event or (ii) the Company executes and delivers to the Trustee an Officer’s Certificate to the effect that such Global Security shall be so exchangeable. Any Global Security that is
exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security with like
tenor and terms. 
 Except as provided in this Section 2.14.2, a Global Security may not be transferred except as a whole
by the Depositary with respect to such Global Security to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary or any such nominee to a successor Depositary or a
nominee of such a successor Depositary. 
 2.14.3. Legend. Any Global Security issued hereunder shall bear a legend in
substantially the following form: 
 “This Security is a Global Security within the meaning of the Indenture hereinafter
referred to and is registered in the name of the Depositary or a nominee of the Depositary. This Security is exchangeable for Securities registered in the name of a person other than the Depositary or its nominee only in the limited circumstances
described in the Indenture, and may not be transferred except as a whole by the Depositary to a nominee of the Depositary, 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 a successor Depositary.” 

  
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 2.14.4. Acts of Holders. The Depositary, as a Holder, may appoint agents and
otherwise authorize participants to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture. 

2.14.5. Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by
Section 2.2, payment of the principal of, premium, if any, and interest, if any, on any Global Security shall be made to the Holder thereof. 
 2.14.6. Consents, Declaration and Directions. The Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount of outstanding Securities of such Series represented
by a Global Security as shall be specified in a written statement of the Depositary or by the applicable procedures of such Depositary with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or directions
required to be given by the Holders pursuant to this Indenture. 
 Section 2.15. CUSIP Numbers. 

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

ARTICLE III. 

REDEMPTION 

Section 3.1. Notice to Trustee. 
 The Company may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and pay the Series of Securities or any part thereof prior
to the Stated Maturity thereof at such time and on such terms as provided for in such Securities. If a Series of Securities is redeemable and the Company wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the Series
of Securities pursuant to the terms of such Securities, it shall notify the Trustee in writing of the redemption date and the principal amount of Series of Securities to be redeemed. The Company shall give the notice at least 15 days before the
redemption date. 
 Section 3.2. Selection of Securities to be Redeemed. 

Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental indenture hereto or an Officer’s
Certificate, if less than all the Securities of a Series are to be redeemed, the Trustee shall select the Securities of the Series to be redeemed in any 

  
 14 

 
manner that the Trustee deems fair and appropriate, including by lot or other method, unless otherwise required by law or applicable stock exchange requirements, subject, in the case of Global
Securities, to the applicable rules and procedures of the Depositary. The Trustee shall make the selection from Securities of the Series outstanding not previously called for redemption. The Trustee may select for redemption portions of the
principal of Securities of the Series that have denominations larger than $1,000. Securities of the Series and portions of them it selects shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to Securities of any Series
issuable in other denominations pursuant to Section 2.2.10, the minimum principal denomination for each Series and the authorized integral multiples thereof. Provisions of this Indenture that apply to Securities of a Series called for
redemption also apply to portions of Securities of that Series called for redemption. 
 Section 3.3. Notice of
Redemption. 
 Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an
Officer’s Certificate, at least 15 days but not more than 60 days before a redemption date, the Company shall mail a notice of redemption by first-class mail to each Holder whose Securities are to be redeemed. 

The notice shall identify the Securities of the Series to be redeemed and shall state: 

(a) the redemption date; 
 (b) the redemption price; 
 (c) the name and address of the Paying
Agent; 
 (d) if any Securities are being redeemed in part, the portion of the principal amount of such
Securities to be redeemed and that, after the redemption date and upon surrender of such Security, a new Security or Securities in principal amount equal to the unredeemed portion of the original Security shall be issued in the name of the Holder
thereof upon cancellation of the original Security; 
 (e) that Securities of the Series called for redemption
must be surrendered to the Paying Agent to collect the redemption price; 
 (f) that interest on Securities of
the Series called for redemption ceases to accrue on and after the redemption date unless the Company defaults in the deposit of the redemption price; 
 (g) the CUSIP number, if any; and 
 (h) any other information as
may be required by the terms of the particular Series or the Securities of a Series being redeemed. 
 At the Company’s
request, the Trustee shall give the notice of redemption in the Company’s name and at its expense, provided, however, that the Company has delivered to the Trustee, at least 10 days (unless a shorter time shall be acceptable to the Trustee)
prior to the notice date, an Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice. 

  
 15 

 Section 3.4. Effect of Notice of Redemption. 

Once notice of redemption is mailed as provided in Section 3.3, Securities of a Series called for redemption become due and payable
on the redemption date and at the redemption price. Except as otherwise provided in the supplemental indenture, Board Resolution or Officer’s Certificate for a Series, a notice of redemption may not be conditional. Upon surrender to the Paying
Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption date. 
 Section 3.5.
Deposit of Redemption Price. 
 On or before 11:00 a.m., New York City time, on the redemption date, the Company shall
deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date. 
 Section 3.6. Securities Redeemed in Part. 
 Upon surrender of a Security
that is redeemed in part, the Trustee shall authenticate for the Holder a new Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered. 

ARTICLE IV. 

COVENANTS 

Section 4.1. Payment of Principal and Interest. 
 The Company covenants and agrees for the benefit of the Holders of each Series of Securities that it will duly and punctually pay the principal of and interest, if any, on the Securities of that Series in
accordance with the terms of such Securities and this Indenture. On or before 11:00 a.m., New York City time, on the applicable payment date, the Company shall deposit with the Paying Agent money sufficient to pay the principal of and interest, if
any, on the Securities of each Series in accordance with the terms of such Securities and this Indenture. 
 Section 4.2. SEC
Reports. 
 To the extent any Securities of a Series are outstanding, the Company shall deliver to the Trustee within 15
days after it files them with the SEC copies of the annual reports and of the information, documents, and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the Company is
required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company also shall comply with the other provisions of TIA § 314(a). Reports, information and documents filed with the SEC via the EDGAR system will be
deemed to be delivered to the Trustee as of the time of such filing via EDGAR for purposes of this Section 4.2. 

  
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 Delivery of reports, information and documents to the Trustee under this Section 4.2
are for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute constructive or actual notice of any information contained therein or determinable from information contained therein, including the
Company’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 
 Section 4.3. Compliance Certificate. 
 To the extent any Securities of a
Series are outstanding , the Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officer’s Certificate stating that a review of the activities of the Company and its Subsidiaries during the
preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such
Officer signing such certificate, that to the best of his/her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the
terms, provisions and conditions hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which the Officer may have knowledge). 

The Company will, so long as any of the Securities are outstanding, deliver to the Trustee, promptly upon becoming aware of any Default
or Event of Default, an Officer’s Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 
 Section 4.4. Stay, Extension and Usury Laws. 
 The Company covenants (to
the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force,
which may affect the covenants or the performance of this Indenture or the Securities; and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort
to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted. 

Section 4.5. Corporate Existence. 
 Subject to Article V, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and rights (charter and statutory); provided,
however, that the Company shall not be required to preserve any such right if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries taken as a
whole and that the loss thereof is not adverse in any material respect to the Holders. 

  
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 ARTICLE V. 
 SUCCESSORS 
 Section 5.1. When Company May Merge, Etc. 

The Company shall not consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its properties and
assets to, any person (a “successor person”), unless: 
 (a) the Company is the surviving
corporation or the successor person (if other than the Company) is a corporation organized and validly existing under the laws of any U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the Securities and under this
Indenture; and 
 (b) immediately after giving effect to the transaction, no Default or Event of Default, shall
have occurred and be continuing. 
 The Company shall deliver to the Trustee prior to the consummation of the proposed
transaction an Officer’s Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture comply with this Indenture. 

Notwithstanding the above, any Subsidiary of the Company may consolidate with, merge into or transfer all or part of its properties to
the Company. Neither an Officer’s Certificate nor an Opinion of Counsel shall be required to be delivered in connection therewith. 
 Section 5.2. Successor Corporation Substituted. 
 Upon any consolidation or
merger, or any sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.1, the successor corporation formed by such consolidation or into or with which the Company is
merged or to which such sale, lease, conveyance or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor person has
been named as the Company herein; provided , however , that the predecessor Company in the case of a sale, conveyance or other disposition (other than a lease) shall be released from all obligations and covenants under this Indenture
and the Securities. 
 ARTICLE VI. 
 DEFAULTS AND REMEDIES 
 Section 6.1. Events of Default. 

“Event of Default,” wherever used herein with respect to Securities of any Series, means any one of the following
events, unless in the establishing Board Resolution, supplemental indenture or Officer’s Certificate, it is provided that such Series shall not have the benefit of said Event of Default: 

  
 18 

 (a) default in the payment of any interest on any
Security of that Series when it becomes due and payable, and continuance of such default for a period of 30 days (unless the entire amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to 11:00 a.m., New
York City time, on the 30th day of such period); or

 (b) default in the payment of principal of any Security of that Series at its Maturity; or 

(c) default in the performance or breach of any covenant or warranty of the Company in this Indenture (other than
defaults pursuant to paragraphs (a) or (b) above or pursuant to a covenant or warranty that has been included in this Indenture solely for the benefit of Series of Securities other than that Series), which default continues uncured for a
period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the outstanding Securities of that Series a written
notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 
 (d) the Company pursuant to or within the meaning of any Bankruptcy Law: 
 (i) commences a voluntary case, 
 (ii) consents to the entry of an
order for relief against it in an involuntary case, 
 (iii) consents to the appointment of a Custodian of it or
for all or substantially all of its property, 
 (iv) makes a general assignment for the benefit of its
creditors, or 
 (v) generally is unable to pay its debts as the same become due; or 

(e) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(i) is for relief against the Company in an involuntary case, 

(ii) appoints a Custodian of the Company or for all or substantially all of its property, or 

(iii) orders the liquidation of the Company, 

and the order or decree remains unstayed and in effect for 60 days; or 

(f) any other Event of Default provided with respect to Securities of that Series, which is specified in a Board
Resolution, a supplemental indenture hereto or an Officer’s Certificate, in accordance with Section 2.2.18. 

  
 19 

 The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal
or State law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 
 Section 6.2. Acceleration of Maturity; Rescission and Annulment. 
 If an
Event of Default with respect to Securities of any Series at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.1(d) or (e)) then in every such case the Trustee or the Holders of not less than
25% in principal amount of the outstanding Securities of that Series may declare the principal amount (or, if any Securities of that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of such
Securities) of and accrued and unpaid interest, if any, on all of the Securities of that Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such
principal amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately due and payable. If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified amount) of
and accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 

At any time after such a declaration of acceleration with respect to any Series has been made and before a judgment or decree for payment
of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the outstanding Securities of that Series, by written notice to the Company and the Trustee, may rescind and
annul such declaration and its consequences if all Events of Default with respect to Securities of that Series, other than the non-payment of the principal and interest, if any, of Securities of that Series which have become due solely by such
declaration of acceleration, have been cured or waived as provided in Section 6.13. 
 No such rescission shall affect any
subsequent Default or impair any right consequent thereon. 
 Section 6.3. Collection of Indebtedness and Suits for
Enforcement by Trustee. 
 The Company covenants that if 

(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such
default continues for a period of 30 days, or 
 (b) default is made in the payment of principal of any Security
at the Maturity thereof, or 
 (c) default is made in the deposit of any sinking fund payment, if any, when and
as due by the terms of a Security, 
 then, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of
such Securities, the whole amount then due and payable on such Securities for principal and interest and, to the extent that payment of such interest shall be legally enforceable, interest on 

  
 20 

 
any overdue principal and any overdue interest at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs
and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so
due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys adjudged or deemed to be payable in the manner provided by law
out of the property of the Company or any other obligor upon such Securities, wherever situated. 
 If an Event of Default with
respect to any Securities of any Series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such Series by such appropriate judicial proceedings as the
Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper
remedy. 
 Section 6.4. Trustee May File Proofs of Claim. 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be
due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention
in such proceeding or otherwise, 
 (a) to file and prove a claim for the whole amount of principal and interest
owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 

(b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the
same, and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee
shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 7.7. 

  
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 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in
any such proceeding. 
 Section 6.5. Trustee May Enforce Claims Without Possession of Securities. 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the
possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall,
after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been
recovered. 
 Section 6.6. Application of Money Collected. 

Any money or property collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates
fixed by the Trustee and, in case of the distribution of such money or property on account of principal or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if
fully paid: 
 First: To the payment of all amounts due the Trustee under Section 7.7; and 

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

Third: To the Company. 
 Section 6.7. Limitation on Suits. 
 No Holder of any Security of any Series
shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 

(a) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the
Securities of that Series; 
 (b) the Holders of not less than 25% in principal amount of the outstanding
Securities of that Series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

  
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 (c) such Holder or Holders have offered to the Trustee indemnity or security
satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by the Trustee in compliance with such request; 
 (d) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 

(e) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the
Holders of a majority in principal amount of the outstanding Securities of that Series; 
 it being understood, intended and expressly
covenanted by the Holder of every Security with every other Holder and the Trustee that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or
prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and
ratable benefit of all such Holders of the applicable Series. 
 Section 6.8. Unconditional Right of Holders to Receive
Principal and Interest. 
 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the
right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Security on the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in the case of redemption, on
the redemption date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 
 Section 6.9. Restoration of Rights and Remedies. 
 If the Trustee or any
Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such
case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders
shall continue as though no such proceeding had been instituted. 
 Section 6.10. Rights and Remedies Cumulative.

 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in
Section 2.8, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by law, prevent
the concurrent assertion or employment of any other appropriate right or remedy. 

  
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 Section 6.11. Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default
shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 6.12. Control by
Holders. 
 The Holders of a majority in principal amount of the outstanding Securities of any Series shall have the right
to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such Series, provided that 

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

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

 (c) subject to the provisions of Section 6.1, the Trustee shall have the right to decline to follow any
such direction if the Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability, and 

(d) prior to taking any action as directed under this Section 6.12, the Trustee shall be entitled to indemnity
satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 
 Section 6.13. Waiver of Past Defaults. 
 The Holders of not less than a
majority in principal amount of the outstanding Securities of any Series may on behalf of the Holders of all the Securities of such Series waive any past Default hereunder with respect to such Series and its consequences, except a Default in the
payment of the principal of or interest on any Security of such Series (provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any
related payment default that resulted from such acceleration). Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such
waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 
 Section 6.14. Undertaking
for Costs. 
 All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed
to have agreed, that any court may in its discretion require, in 

  
 24 

 
any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party
litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the
merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or
group of Holders, holding in the aggregate more than 10% in principal amount of the outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on any Security on
or after the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in the case of redemption, on the redemption date). 
 ARTICLE VII. 
 TRUSTEE 

Section 7.1. Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a
prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(i) The Trustee need perform only those duties that are specifically set forth in this Indenture and no others.

 (ii) In the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon Officer’s Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of this Indenture; however, in the case of any such
Officer’s Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officer’s Certificates and Opinions of Counsel to determine whether or
not they conform to the form requirements of this Indenture. 
 (c) The Trustee may not be relieved from
liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
 (i) This paragraph does not limit the effect of paragraph (b) of this Section. 
 (ii) The Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts.

  
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 (iii) The Trustee shall not be liable with respect to any action taken,
suffered or omitted to be taken by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the outstanding Securities of such Series relating to the time, method
and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such Series in accordance with Section 6.12.

 (d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraph (a),
(b) and (c) of this Section. 
 (e) The Trustee may refuse to perform any duty or exercise any right
or power unless it receives indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in performing such duty or exercising such right or power. 

(f) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing
with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 (g) No provision of this Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in the performance of any of its duties, or in the exercise of any of its
rights or powers, if adequate indemnity against such risk is not assured to the Trustee in its satisfaction. 

(h) The Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections and immunities as
are set forth in paragraphs (e), (f) and (g) of this Section and in Section 7.2, each with respect to the Trustee. 
 Section 7.2. Rights of Trustee. 
 (a) The Trustee may rely
on and shall be protected in acting or refraining from acting upon any document (whether in its original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any
fact or matter stated in the document. 
 (b) Before the Trustee acts or refrains from acting, it may require an
Officer’s Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. 

(c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent
appointed with due care. No Depositary shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any Depositary. 

  
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 (d) The Trustee shall not be liable for any action it takes or omits to take
in good faith which it believes to be authorized or within its rights or powers, provided that the Trustee’s conduct does not constitute willful misconduct or negligence. 

(e) The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and
complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder without willful misconduct or negligence, and in reliance thereon. 

(f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at
the request or direction of any of the Holders of Securities unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with
such request or direction. 
 (g) The Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion,
may make such further inquiry or investigation into such facts or matters as it may see fit. 
 (h) The Trustee
shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the
Corporate Trust Office of the Trustee, and such notice references the Securities generally or the Securities of a particular Series and this Indenture. 
 (i) In no event shall the Trustee be liable to any person for special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including but not limited to lost profits),
even if the Trustee has been advised of the likelihood of such loss or damage. 
 (j) The permissive right
of the Trustee to take the actions permitted by this Indenture shall not be construed as an obligation or duty to do so. 

Section 7.3. Individual Rights of Trustee. 
 The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or an Affiliate of the Company with the same rights it would have
if it were not Trustee. Any Agent may do the same with like rights. The Trustee is also subject to Sections 7.10 and 7.11. 

Section 7.4. Trustee’s Disclaimer. 
 The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, and it
shall not be responsible for any statement in the Securities other than its authentication. 

  
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 Section 7.5. Notice of Defaults. 

If a Default or Event of Default occurs and is continuing with respect to the Securities of any Series and if it is known to a
Responsible Officer of the Trustee, the Trustee shall mail to each Securityholder of the Securities of that Series notice of a Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Trustee has
knowledge of such Default or Event of Default. Except in the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as its corporate trust
committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Securityholders of that Series. 
 Section 7.6. Reports by Trustee to Holders. 
 Within 60 days after
[                    ] in each year, the Trustee shall transmit by mail to all Securityholders, as their names and addresses appear on the register
kept by the Registrar a brief report dated as of such [                    ], in accordance with, and to the extent required under, TIA § 313.

 A copy of each report at the time of its mailing to Securityholders of any Series shall be filed with the SEC and each
national securities exchange on which the Securities of that Series are listed. The Company shall promptly notify the Trustee in writing when Securities of any Series are listed on any national securities exchange. 

Section 7.7. Compensation and Indemnity. 
 The Company shall pay to the Trustee from time to time compensation for its services as the Company and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation shall not
be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out of pocket expenses incurred by it. Such expenses shall include the reasonable compensation and
expenses of the Trustee’s agents and counsel. 
 The Company shall indemnify each of the Trustee and any predecessor
Trustee (including the cost of defending itself) against any cost, expense or liability, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it except as set forth in the next paragraph
in the performance of its duties under this Indenture as Trustee or Agent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of
its obligations hereunder, unless and to the extent that the Company is materially prejudiced thereby. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel and the Company shall
pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent will not be unreasonably withheld. This indemnification shall apply to officers, directors, employees,
shareholders and agents of the Trustee. 

  
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 The Company need not reimburse any expense or indemnify against any loss or liability
incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through willful misconduct or negligence. 
 To secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities of any Series on all money or property held or collected by the Trustee, except that
held in trust to pay principal of and interest on particular Securities of that Series. 
 When the Trustee incurs expenses or
renders services after an Event of Default specified in Section 6.1(d) or (e) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 

The provisions of this Section shall survive the termination of this Indenture. 

Section 7.8. Replacement of Trustee. 
 A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section.

 The Trustee may resign with respect to the Securities of one or more Series by so notifying the Company at least 30 days
prior to the date of the proposed resignation. The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee and the Company. The Company may remove the
Trustee with respect to Securities of one or more Series if: 
 (a) the Trustee fails to comply with
Section 7.10; 
 (b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered
with respect to the Trustee under any Bankruptcy Law; 
 (c) a Custodian or public officer takes charge of the
Trustee or its property; or 
 (d) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company.

 If a successor Trustee with respect to the Securities of any one or more Series does not take office within 60 days after the
retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least a majority in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of a
successor Trustee. 

  
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 A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.7, the resignation or removal of the retiring
Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a
notice of its succession to each Securityholder of each such Series. Notwithstanding replacement of the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 hereof shall continue for the benefit of the
retiring Trustee with respect to expenses and liabilities incurred by it for actions taken or omitted to be taken in accordance with its rights, powers and duties under this Indenture prior to such replacement. 

Section 7.9. Successor Trustee by Merger, Etc. 
 If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act
shall be the successor Trustee, subject to Section 7.10. 
 Section 7.10. Eligibility; Disqualification. 

This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee shall
always have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA § 310(b). 

Section 7.11. Preferential Collection of Claims Against Company. 

The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned
or been removed shall be subject to TIA § 311(a) to the extent indicated. 
 ARTICLE VIII. 

SATISFACTION AND DISCHARGE; DEFEASANCE 
 Section 8.1. Satisfaction and Discharge of Indenture. 
 This Indenture
shall upon Company Order cease to be of further effect (except as hereinafter provided in this Section 8.1), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this
Indenture, when 
 (a) either 

(i) all Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or
stolen and that have been replaced or paid) have been delivered to the Trustee for cancellation; or 
 (ii) all
such Securities not theretofore delivered to the Trustee for cancellation 

  
 30 

 (1) have become due and payable, or 

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

(3) have been called for redemption or are to be called for redemption within one year under arrangements satisfactory
to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, or 
 (4) are deemed paid and discharged pursuant to Section 8.3, as applicable; 
 and the Company,
in the case of (1), (2) or (3) above, has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust an amount sufficient for the purpose of paying and discharging the entire indebtedness on such Securities
not theretofore delivered to the Trustee for cancellation, for principal and interest to the date of such deposit (in the case of Securities which have become due and payable on or prior to the date of such deposit) or to the Stated Maturity or
redemption date, as the case may be; 
 (b) the Company has paid or caused to be paid all other sums payable
hereunder by the Company; and 
 (c) the Company has delivered to the Trustee an Officer’s Certificate and
an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.7, and, if money shall have been deposited with the Trustee pursuant to
clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall survive. 
 Section 8.2.
Application of Trust Funds; Indemnification. 
 (a) Subject to the provisions of Section 8.5, all
money deposited with the Trustee pursuant to Section 8.1, all money and U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.3 or 8.4 and all money received by the Trustee in
respect of U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.3 or 8.4, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this
Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal and interest for whose payment such money
has been deposited with or received by the Trustee or to make mandatory sinking fund payments or analogous payments as contemplated by Sections 8.3 or 8.4. 
 (b) The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign Government Obligations deposited
pursuant to Sections 8.3 or 8.4 or the interest and principal received in respect of such obligations other than any payable by or on behalf of Holders. 

  
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 (c) The Trustee shall deliver or pay to the Company from time to time upon
Company Order any U.S. Government Obligations or Foreign Government Obligations or money held by it as provided in Sections 8.3 or 8.4 which, in the opinion of a nationally recognized firm of independent certified public accountants or investment
bank expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such U.S. Government Obligations or Foreign Government
Obligations or money were deposited or received. This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations or Foreign Government Obligations held under this Indenture. 

Section 8.3. Legal Defeasance of Securities of any Series. 

Unless this Section 8.3 is otherwise specified, pursuant to Section 2.2, to be inapplicable to Securities of any Series, the
Company shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit referred to in subparagraph (d) hereof, and the provisions of this
Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall, upon receipt of a Company Order, execute instruments acknowledging the same), except as to:

 (a) the rights of Holders of Securities of such Series to receive, from the trust funds described in
subparagraph (d) hereof, (i) payment of the principal of and each installment of principal of and interest on the outstanding Securities of such Series on the Maturity of such principal or installment of principal or interest and
(ii) the benefit of any mandatory sinking fund payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such Series;

 (b) the provisions of Sections 2.4, 2.7, 2.8, 8.2, 8.3 and 8.5; and 

(c) the rights, powers, trust and immunities of the Trustee hereunder and the Company’s obligations in connection
therewith; 
 provided that, the following conditions shall have been satisfied: 

(d) the Company shall have deposited or caused to be irrevocably deposited (except as provided in Section 8.2(c))
with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as security for and dedicated solely to the benefit of the Holders of such Securities (i) in the case of Securities of such Series
denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which
through the payment of interest and principal in respect thereof in 

  
 32 

 
accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of
money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent public accountants or investment bank expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of
principal of and interest, if any, on and any mandatory sinking fund payments in respect of all the Securities of such Series on the dates such installments of interest or principal and such sinking fund payments are due; 

(e) such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other
agreement or instrument to which the Company is a party or by which it is bound; 
 (f) no Default or Event of
Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date; 

(g) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel to the effect
that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable Federal income tax law, in
either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit,
defeasance and discharge and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred; 

(h) the Company shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made
by the Company with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company; and 
 (i) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to the defeasance contemplated
by this Section have been complied with. 
 Section 8.4. Covenant Defeasance. 

Unless this Section 8.4 is otherwise specified pursuant to Section 2.2 to be inapplicable to Securities of any Series, the
Company may omit to comply with respect to the Securities of any Series with any term, provision or condition set forth under Sections 4.2, 4.3, 4.4, 4.5, and 5.1 as well as any additional covenants specified in a supplemental indenture for such
Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2 (and the failure to comply with any such covenants shall not constitute a Default or Event of Default with respect to such Series
under Section 6.1) and the occurrence of any event specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2.18 and designated as an Event
of Default shall not constitute a Default or Event of Default hereunder, with respect to the Securities of such Series, provided that the following conditions shall have been satisfied: 

  
 33 

 (a) With reference to this Section 8.4, the Company has deposited or
caused to be irrevocably deposited (except as provided in Section 8.2(c)) with the Trustee as trust funds in trust for the purpose of making the following payments specifically pledged as security for, and dedicated solely to, the benefit of
the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency
(other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax
liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent certified public accountants or investment
bank expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of the Securities of such Series on the
dates such installments of interest or principal and such sinking fund payments are due; 
 (b) Such deposit
will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 

(c) No Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on
the date of such deposit; 
 (d) The Company shall have delivered to the Trustee an Opinion of Counsel to the
effect that Holders of the Securities of such Series will not recognize income, gain or loss for federal income tax purposes as a result of such deposit and covenant defeasance and will be subject to federal income tax on the same amounts, in the
same manner and at the same times as would have been the case if such deposit and covenant defeasance had not occurred; 
 (e) The Company shall have delivered to the Trustee an Officer’s Certificate stating the deposit was not made by the Company with the intent of defeating, hindering, delaying or defrauding any other
creditors of the Company; and 
 (f) The Company shall have delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the covenant defeasance contemplated by this Section have been complied with. 

Section 8.5. Repayment to Company. 
 Subject to applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of principal and interest that remains unclaimed
for two years. After that, Securityholders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person. 

  
 34 

 Section 8.6. Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money deposited with respect to Securities of any Series in accordance with
Section 8.1 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the obligations of the Company under this Indenture
with respect to the Securities of such Series and under the Securities of such Series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.1 until such time as the Trustee or the Paying Agent is permitted to
apply all such money in accordance with Section 8.1; provided , however , that if the Company has made any payment of principal of or interest on or any Additional Amounts with respect to any Securities because of the
reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money held by the Trustee or Paying Agent. 

ARTICLE IX. 

AMENDMENTS AND WAIVERS 
 Section 9.1. Without Consent of Holders. 
 The Company and the Trustee may
amend or supplement this Indenture or the Securities of one or more Series without the consent of any Securityholder: 
 (a) to cure any ambiguity, defect or inconsistency; 
 (b) to
comply with Article V; 
 (c) to provide for uncertificated Securities in addition to or in place of
certificated Securities; 
 (d) to make any change that does not adversely affect the rights of any
Securityholder; 
 (e) to provide for the issuance of and establish the form and terms and conditions of
Securities of any Series as permitted by this Indenture; 
 (f) to evidence and provide for the acceptance of
appointment hereunder by a successor Trustee with respect to the Securities of one or more Series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts
hereunder by more than one Trustee; or 
 (g) to comply with requirements of the SEC in order to effect or
maintain the qualification of this Indenture under the TIA. 

  
 35 

 Section 9.2. With Consent of Holders. 

The Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority in
principal amount of the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series), for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Securityholders of each such Series. Except as provided in
Section 6.13, the Holders of at least a majority in principal amount of the outstanding Securities of any Series by notice to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Securities of
such Series) may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series. 
 It shall not be necessary for the consent of the Holders of Securities under this Section 9.2 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be
sufficient if such consent approves the substance thereof. After a supplemental indenture or waiver under this section becomes effective, the Company shall mail to the Holders of Securities affected thereby, a notice briefly describing the
supplemental indenture or waiver. Any failure by the Company to mail or publish such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver. 

Section 9.3. Limitations. 
 Without the consent of each Securityholder affected, an amendment or waiver may not: 
 (a) reduce the principal amount of Securities whose Holders must consent to an amendment, supplement or waiver; 
 (b) reduce the rate of or extend the time for payment of interest (including default interest) on any Security; 
 (c) reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation; 

(d) reduce the principal amount of Discount Securities payable upon acceleration of the maturity thereof; 

(e) waive a Default or Event of Default in the payment of the principal of or interest, if any, on any Security (except a
rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a waiver of the payment default that resulted from such acceleration); 

(f) make the principal of or interest, if any, on any Security payable in any currency other than that stated in the
Security; 

  
 36 

 (g) make any change in Sections 6.8, 6.13 or 9.3 (this sentence); or

 (h) waive a redemption payment with respect to any Security, provided that such redemption is made at the
Company’s option. 
 Section 9.4. Compliance with Trust Indenture Act. 

Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that
complies with the TIA as then in effect. 
 Section 9.5. Revocation and Effect of Consents. 

Until an amendment is set forth in a supplemental indenture or a waiver becomes effective, a consent to it by a Holder of a Security is a
continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such
Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the date of the supplemental indenture or the date the waiver becomes effective. 

Any amendment or waiver once effective shall bind every Securityholder of each Series affected by such amendment or waiver unless it is
of the type described in any of clauses (a) through (h) of Section 9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a
Security that evidences the same debt as the consenting Holder’s Security. 
 Section 9.6. Notation on or Exchange of
Securities. 
 The Trustee may place an appropriate notation about an amendment or waiver on any Security of any Series
thereafter authenticated. The Company in exchange for Securities of that Series may issue and the Trustee shall authenticate upon request new Securities of that Series that reflect the amendment or waiver. 

Section 9.7. Trustee Protected. 
 In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be
entitled to receive, and (subject to Section 7.1) shall be fully protected in relying upon, an Officer’s Certificate or an Opinion of Counsel or both complying with Section 10.4. The Trustee shall sign all supplemental indentures upon
delivery of such an Officer’s Certificate or Opinion of Counsel or both, except that the Trustee need not sign any supplemental indenture that adversely affects its rights. 

  
 37 

 ARTICLE X. 
 MISCELLANEOUS 
 Section 10.1. Trust Indenture Act Controls. 

If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required or deemed to be included in
this Indenture by the TIA, such required or deemed provision shall control. 
 Section 10.2. Notices. 

Any notice or communication by the Company or the Trustee to the other, or by a Holder to the Company or the Trustee, is duly given if in
writing and delivered in person or mailed by first-class mail: 
 if to the Company: 

Orexigen Therapeutics, Inc. 
 3344 North Torrey Pines Court, Suite 200 
 La Jolla, CA 92037

 Attention: Chief Financial Officer 
 with a copy to: 
 Latham & Watkins LLP 

12636 High Bluff Drive, Suite 400 
 San Diego, California 92130 
 Attention: Cheston J. Larson

 Telephone: (858) 523-5400 

Facsimile: (858) 523-5450 
 if to the Trustee: 
  

			
	    [Name of Trustee]	 	 
	     [Address]
	 	
	  
	 	
	  
	 	
		
	    Attention:                        
                                         
       	 	

 The Company or the Trustee by notice to the other may designate additional or different addresses for
subsequent notices or communications. 
 Any notice or communication to a Securityholder shall be mailed by first-class mail to
his address shown on the register kept by the Registrar. Failure to mail a notice or communication to a Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to other Securityholders of that or any other
Series. 

  
 38 

 If a notice or communication is mailed or published in the manner provided above, within the
time prescribed, it is duly given, whether or not the Securityholder receives it. 
 If the Company mails a notice or
communication to Securityholders, it shall mail a copy to the Trustee and each Agent at the same time. 
 Notwithstanding any
other provision of this Indenture or any Security, where this Indenture or any Security provides for notice of any event (including any notice of redemption) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be
sufficiently given to the Depositary for such Security (or its designee) pursuant to the customary procedures of such Depositary. 
 Section 10.3. Communication by Holders with Other Holders. 

Securityholders of any Series may communicate pursuant to TIA § 312(b) with other Securityholders of that Series or any other Series
with respect to their rights under this Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 

Section 10.4. Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the
Trustee: 
 (a) an Officer’s Certificate stating that, in the opinion of the signers, all conditions
precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(b) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied
with. 
 Section 10.5. Statements Required in Certificate or Opinion. 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a
certificate provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include: 
 (a) a statement that the person making such certificate or opinion has read such covenant or condition; 
 (b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

(c) a statement that, in the opinion of such person, he has made such examination or investigation as is necessary to
enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

  
 39 

 (d) a statement as to whether or not, in the opinion of such person, such
condition or covenant has been complied with. 
 Section 10.6. Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or more Series. Any Agent may make reasonable
rules and set reasonable requirements for its functions. 
 Section 10.7. Legal Holidays. 

Unless otherwise provided by Board Resolution, Officer’s Certificate or supplemental indenture hereto for a particular Series, a
“Legal Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall
accrue for the intervening period. 
 Section 10.8. No Recourse Against Others. 

A director, officer, employee or stockholder (past or present), as such, of the Company shall not have any liability for any obligations
of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Securityholder by accepting a Security waives and releases all such liability. The waiver and
release are part of the consideration for the issue of the Securities. 
 Section 10.9. Counterparts. 

This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

Section 10.10. Governing Law. 
 THIS INDENTURE AND THE SECURITIES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (WITHOUT
REGARD TO THE CONFLICTS OF LAWS PROVISIONS THEREOF OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW). 

Section 10.11. No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any
such indenture, loan or debt agreement may not be used to interpret this Indenture. 

  
 40 

 Section 10.12. Successors. 

All agreements of the Company in this Indenture and the Securities shall bind its successor. All agreements of the Trustee in this
Indenture shall bind its successor. 
 Section 10.13. Severability. 

In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 10.14. Table of
Contents, Headings, Etc. 
 The Table of Contents, Cross Reference Table, and headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

Section 10.15. Securities in a Foreign Currency. 
 Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular
Series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time
outstanding and, at such time, there are outstanding Securities of any Series which are denominated more than one currency, then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such
action shall be determined by converting any such other currency into a currency that is designated upon issuance of any particular Series of Securities. Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an
Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of Securities, such conversion shall be at the spot rate for the purchase of the designated currency as published in the The
Financial Times in the “Currency Rates” section (of, if The Financial Times is no longer published, or if such information is no longer available in The Financial Times, such source as may be selected in good faith by the Company) on any
date of determination. The provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than Dollars in connection with any action taken by Holders of
Securities pursuant to the terms of this Indenture. 
 All decisions and determinations provided for in the preceding paragraph
shall, in the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and irrevocably binding upon the Trustee and all Holders. 
 Section 10.16. Judgment Currency. 
 The Company agrees, to the fullest
extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to 

  
 41 

 
convert the sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a judgment will
be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment
Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then, the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in
The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required
Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), in any currency other than the Required Currency, except to the extent that such
tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for
the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not be affected by judgment being
obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are
authorized or required by law, regulation or executive order to close. 
 Section 10.17. Force Majeure. 

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

SINKING FUNDS 

Section 11.1. Applicability of Article. 
 The provisions of this Article shall be applicable to any sinking fund for the retirement of the Securities of a Series if so provided by the terms of such Securities PURSUANT TO Section 2.2 and
except as otherwise permitted or required by any form of Security of such Series issued pursuant to this Indenture. 
 The
minimum amount of any sinking fund payment provided for by the terms of the Securities of any Series is herein referred to as a “mandatory sinking fund payment” and any other amount provided for by the terms of Securities of such
Series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any Series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 11.2.
Each sinking fund payment shall be applied to the redemption of Securities of any Series as provided for by the terms of the Securities of such Series. 

  
 42 

 Section 11.2. Satisfaction of Sinking Fund Payments with Securities. 

The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any Series to be made
pursuant to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable (other than any of such Securities previously called for mandatory sinking fund redemption) and
(2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have been repurchased by the Company or redeemed either at the election of the Company pursuant to the terms of such Series of Securities
(except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been previously so
credited. Such Securities shall be received by the Trustee, together with an Officer’s Certificate with respect thereto, not later than 15 days prior to the date on which the Trustee begins the process of selecting Securities for redemption,
and shall be credited for such purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. If as a result of the
delivery or credit of Securities in lieu of cash payments pursuant to this Section 11.2, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee
need not call Securities of such Series for redemption, except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment,
provided , however , that the Trustee or such Paying Agent shall from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by
the Company to the Trustee of Securities of that Series purchased by the Company having an unpaid principal amount equal to the cash payment required to be released to the Company. 

Section 11.3. Redemption of Securities for Sinking Fund. 
 Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental indenture hereto or Officer’s Certificate in respect of a particular Series of Securities) prior to each
sinking fund payment date for any Series of Securities, the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that Series pursuant to the terms of that
Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that Series pursuant to Section 11.2, and the optional
amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon be obligated to pay the amount therein specified. Not less than 30 days (unless otherwise indicated in the Board Resolution,
Officer’s Certificate or supplemental indenture in respect of a particular Series of Securities) before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner
specified in Section 3.2 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 3.3. Such notice having been duly given, the redemption of such Securities
shall be made upon the terms and in the manner stated in Sections 3.4, 3.5 and 3.6. 

  
 43 

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

			
	OREXIGEN THERAPEUTICS, INC.
		
	By:	 	 
		 	Name:
		 	Its:

  

			
	 [Name of Trustee]

		
	By:	 	 
		 	Name:
		 	Its:

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