Document:

EXHIBIT 4.1 

FORM OF FIXED RATE SENIOR NOTE

	
REGISTERED		 		
REGISTERED	
	
No. FXR-1		 		
U.S. $	
	 		 		
CUSIP: 61750V477	

     Unless this certificate is presented by an authorized representative of The Depository Trust Company (55 Water Street, New York, New York) to the issuer or its agent for registration of transfer,
exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depository Trust Company and any payment is made to Cede & Co., ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein.

MORGAN STANLEY

SENIOR GLOBAL MEDIUM-TERM NOTE, SERIES F

(Fixed Rate)

STOCK PARTICIPATION ACCRETING

REDEMPTION QUARTERLY-PAY SECURITIESSM (“SPARQS”)

     % SPARQS® DUE
APRIL 20, 2008 

MANDATORILY EXCHANGEABLE

 FOR
SHARES OF COMMON STOCK OF 

ARCHER-DANIELS-MIDLAND COMPANY

	ORIGINAL
          ISSUE DATE:
	INITIAL
          REDEMPTION DATE: See “Morgan Stanley Call Right” below.
	 INTEREST RATE:             %
          per annum

     
	MATURITY
          DATE: See “Maturity
          Date” below.

	 INTEREST
          ACCRUAL DATE: 
	INITIAL
          REDEMPTION PERCENTAGE: See “Morgan Stanley Call Right” and
“Call Price”         below.
	INTEREST
          PAYMENT DATE(S): See “Interest Payment Dates” below.
	OPTIONAL
          REPAYMENT DATE(S): N/A

	 SPECIFIED
          CURRENCY: U.S. dollars
	 ANNUAL
          REDEMPTION PERCENTAGE REDUCTION: N/A
	 INTEREST
          PAYMENT PERIOD: Quarterly 
	APPLICABILITY
          OF MODIFIED PAYMENT
          UPON ACCELERATION OR REDEMPTION: See “Alternate Exchange Calculation
          in Case of an Event of Default” below.

	IF
          SPECIFIED CURRENCY
          OTHER THAN U.S. DOLLARS, OPTION TO ELECT PAYMENT IN U.S. DOLLARS: N/A
	REDEMPTION
          NOTICE PERIOD: At least 10 days but no more than 30 days. See “Morgan
          Stanley Call Right” and “Morgan Stanley Notice Date” below.
	APPLICABILITY
          OF ANNUAL INTEREST PAYMENTS:
          N/A
	 If
          yes, state Issue Price: N/A

	EXCHANGE
          RATE AGENT: N/A
	 TAX
          REDEMPTION AND PAYMENT OF ADDITIONAL
          AMOUNTS: NO
	PRICE
          APPLICABLE UPON OPTIONAL REPAYMENT:
          N/A 
	 ORIGINAL
          YIELD TO MATURITY: N/A

	OTHER
          PROVISIONS: See below.
	 IF
          YES, STATE INITIAL OFFERING
          DATE: N/A
	 	 

	Stated Principal Amount

Underlying Company 

Underlying Stock
	 
		$

Archer-Daniels-Midland Company (“ADM”) 

The common stock of ADM

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	Pricing Date	 	 
	 	 	 
	Issue Price	 	$                      per
    SPARQS
	 	 	 
	Denominations	 	$                      and
    integral multiples thereof
	 	 	 
	Acceleration Trigger Price	 	 The product of $2.00
    and the Exchange Ratio as of the Original Issue Date.

	 	 	 
	Exchange Ratio	 	                   ,
          subject to adjustment for corporate events relating to the Underlying
    Stock described under “Antidilution Adjustments” below.

	 	 	 
	Yield to Call	 	                       % per annum

	 	 	 
	First Call Date	 	October 20, 2007
	 	 	 
	Maturity Date	 	April
          20, 2008, subject to acceleration as described below in “Price
          Event Acceleration” and “Alternate Exchange Calculation in
          Case of an Event of Default” and subject to extension if the Final
          Call Notice Date is postponed in accordance with the definition thereof.
          If the Final Call Notice Date is postponed because it is not a Trading
          Day or due to a Market Disruption Event and the Issuer exercises the
          Morgan Stanley Call Right, the scheduled Maturity Date shall be postponed
          so that the Maturity Date is the tenth calendar day following the Final
          Call Notice Date. See “Final Call Notice Date” below.

       In the event that the Final
          Call Notice Date is postponed because it is not a Trading Day or due
          to a Market Disruption Event or otherwise, the Issuer shall give notice
          of such postponement as promptly as possible, and in no case later
          than two Business Days following the scheduled Final Call Notice Date,
          (i) to the holder of this SPARQS by mailing notice of such postponement
          by first class mail, postage prepaid, to the holder’s last address
          as it shall appear upon the registry books, (ii) to the Trustee by
          telephone or facsimile confirmed by mailing such notice to the Trustee
          by first class mail, postage prepaid, at its New York office and (iii)
          to The Depository Trust Company (the “Depositary”) by telephone
          or facsimile confirmed by mailing such notice to the Depositary by
          first class mail, postage prepaid. Any notice that is mailed in the
    manner herein provided shall be conclusively 

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	 		 		presumed to have been duly given, whether or not the holder of this SPARQS receives the notice. Notice of the date to which the Maturity Date has been rescheduled as a result of postponement of the
Final Call Notice Date, if applicable, shall be included in the Issuer’s notice of exercise of the Morgan Stanley Call Right.
	
	 	 	 
	Interest Payment Dates
		 		July 20, 2007, October 20, 2007, January 20, 2007 and the Maturity Date.

If the scheduled Maturity Date is postponed, the Issuer shall pay interest on the Maturity Date as postponed rather than on the scheduled Maturity Date, but no interest shall accrue on this SPARQS or on such payment during the
period from or after the scheduled Maturity Date.
	
	 	 	 
	Record Date
		 		Notwithstanding the definition of “Record Date” on page 23 hereof, the Record Date for each Interest Payment Date, including the Interest Payment Date scheduled to occur on the Maturity Date,
shall be the date 5 calendar days prior to such scheduled Interest Payment Date, whether or not that date is a Business Day; provided, however, that in the event that the Issuer exercises
the Morgan Stanley Call Right, no Interest Payment Date shall occur after the Morgan Stanley Notice Date, except for any Interest Payment Date for which the Morgan Stanley Notice Date falls on or after the “ex-interest” date for the
related interest payment, in which case the related interest payment shall be made on such Interest Payment Date; and provided, further, that accrued but unpaid interest payable on the Call
Date, if any, shall be payable to the person to whom the Call Price is payable. The “ex- interest” date for any interest payment is the date on which purchase transactions in the SPARQS no longer carry the right to receive such interest
payment.

In the event that the Issuer exercises the Morgan Stanley Call Right and the Morgan Stanley Notice Date falls before the “ex-interest” date for an interest payment, so that as a result a scheduled Interest Payment
Date does not occur, the Issuer shall cause the Calculation Agent to give notice to the Trustee and to the Depositary, in each case in the manner and at the time described in the second and third paragraphs
	

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	 		 		under “Morgan Stanley Call Right” below, that no Interest Payment Date shall occur after such Morgan Stanley Notice Date.
	
	 	 	 
	Morgan Stanley Call Right
		 		On any scheduled Trading Day on or after the First Call Date or on the Maturity Date (including the Maturity Date as it may be extended and regardless of whether the Maturity Date is a Trading Day), the
Issuer may call the SPARQS, in whole but not in part, for mandatory exchange for the Call Price paid in cash (together with accrued but unpaid interest) on the Call Date.

On the Morgan Stanley Notice Date, the Issuer shall give notice of the Issuer’s exercise of the Morgan Stanley Call Right (i) to the holder of this SPARQS by mailing notice of such exercise, specifying the Call Date on
which the Issuer shall effect such exchange, by first class mail, postage prepaid, to the holder’s last address as it shall appear upon the registry books, (ii) to the Trustee by telephone or facsimile confirmed by mailing such notice to the
Trustee by first class mail, postage prepaid, at its New York office and (iii) to the Depositary in accordance with the applicable procedures set forth in the Blanket Letter of Representations prepared by the Issuer. Any notice which is mailed in
the manner herein provided shall be conclusively presumed to have been duly given, whether or not the holder of this SPARQS receives the notice. Failure to give notice by mail or any defect in the notice to the holder of any SPARQS shall not affect
the validity of the proceedings for the exercise of the Morgan Stanley Call Right with respect to any other SPARQS.

The notice of the Issuer’s exercise of the Morgan Stanley Call Right shall specify (i) the Call Date, (ii) the Call Price payable per SPARQS, (iii) the amount of accrued but unpaid interest payable per SPARQS on the Call
Date, (iv) whether any subsequently scheduled Interest Payment Date shall no longer be an Interest Payment Date as a result of the exercise of the Morgan Stanley Call Right, (v) the place or places of payment of such Call Price, (vi) that such
delivery shall be made upon presentation and surrender of this SPARQS, (vii) that such exchange is pursuant to the Morgan Stanley
	

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			 		Call Right and (viii) if applicable, the date to which the Maturity Date has been extended due to a Market Disruption Event as described under “Maturity Date” above.

The notice of the Issuer’s exercise of the Morgan Stanley Call Right shall be given by the Issuer or, at the Issuer’s request, by the Trustee in the name and at the expense of the Issuer.

If this SPARQS is so called for mandatory exchange by the Issuer, then the cash Call Price and any accrued but unpaid interest on this SPARQS to be delivered to the holder of this SPARQS shall be delivered on the Call Date
fixed by the Issuer and set forth in its notice of its exercise of the Morgan Stanley Call Right, upon delivery of this SPARQS to the Trustee. The Issuer shall, or shall cause the Calculation Agent to, deliver such cash to the Trustee for delivery
to the holder of this SPARQS.

If this SPARQS is not surrendered for exchange on the Call Date, it shall be deemed to be no longer Outstanding under, and as defined in, the Senior Indenture after the Call Date, except with respect to the holder’s right
to receive cash due in connection with the Morgan Stanley Call Right.
	
	 	 	 
	Morgan Stanley Notice Date
		 		The scheduled Trading Day on which the Issuer issues its notice of mandatory exchange, which must be at least 10 but not more than 30 calendar days prior to the Call Date.
	
	 	 	 
	Final Call Notice Date
		 		April 10, 2008; provided that if such date is not a Trading Day or if a Market Disruption Event occurs on such day, the Final Call Notice Date
shall be the immediately succeeding Trading Day on which no Market Disruption Event occurs.
	
	 	 	 
	Call Date
		 		The day specified in the Issuer’s notice of mandatory exchange, on which the Issuer shall deliver cash to the holder of this SPARQS, for mandatory exchange, which day may be any scheduled Trading
Day on or after the First Call Date or the Maturity Date (including the Maturity Date as it may be extended and regardless of whether the Maturity Date is a scheduled Trading Day). See “Maturity Date” above.
	

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	Call Price
		 		The Call Price with respect to any Call Date is an amount of cash per each Stated Principal Amount of this SPARQS, as calculated by the Calculation Agent, such that the sum of the present values of all
cash flows on each Stated Principal Amount of this SPARQS to and including the Call Date (i.e., the Call Price and all of the interest payments, including accrued and unpaid interest payable
on the Call Date), discounted to the Original Issue Date from the applicable payment date at the Yield to Call rate computed on the basis of a 360-day year of twelve 30- day months, equals the Stated Principal Amount, as determined by the
Calculation Agent.
	
	 	 	 
	Exchange at Maturity
		 		At maturity, subject to a prior call of this SPARQS for cash in an amount equal to the Call Price by the Issuer as described under “Morgan Stanley Call Right” above or any acceleration of the
SPARQS, upon delivery of this SPARQS to the Trustee, each Stated Principal Amount of this SPARQS shall be applied by the Issuer as payment for a number of shares of the Underlying Stock at the Exchange Ratio, and the Issuer shall deliver with
respect to each Stated Principal Amount of this SPARQS an amount of the Underlying Stock equal to the Exchange Ratio.

The amount of Underlying Stock to be delivered at maturity shall be subject to any applicable adjustments (i) to the Exchange Ratio (including, as applicable, any New Stock Exchange Ratio or any Basket Stock Exchange Ratio,
each as defined in paragraph 5 under “Antidilution Adjustments” below) and (ii) in the Exchange Property, as defined in paragraph 5 under “Antidilution Adjustments” below, to be delivered instead of, or in addition to, such
Underlying Stock as a result of any corporate event described under “Antidilution Adjustments” below, in each case, required to be made through the close of business on the third Trading Day prior to the scheduled Maturity Date.

The Issuer shall, or shall cause the Calculation Agent to, provide written notice to the Trustee at its New York Office and to the Depositary, on which notice the Trustee and Depositary may conclusively rely, on or prior to
10:30 a.m. on the Trading Day immediately
	

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		prior to maturity of this SPARQS (but if such Trading Day is not a Business Day, prior to the close of business on the Business Day preceding the maturity of this SPARQS), of the amount of Underlying
Stock (or the amount of Exchange Property) or cash to be delivered with respect to each Stated Principal Amount of this SPARQS and of the amount of any cash to be paid in lieu of any fractional share of the Underlying Stock (or of any other
securities included in Exchange Property, if applicable); provided that if the maturity date of this SPARQS is accelerated (x) because of a Price Event Acceleration (as described under
“Price Event Acceleration” below) or (y) because of an Event of Default Acceleration (as defined under “Alternate Exchange Calculation in Case of an Event of Default” below), the Issuer shall give notice of such acceleration as
promptly as possible, and in no case later than (A) in the case of an Event of Default Acceleration, two Trading Days following such deemed maturity date or (B) in the case of a Price Event Acceleration, 10:30 a.m. on the Trading Day immediately
prior to the date of acceleration (as defined under “Price Event Acceleration” below), (i) to the holder of this SPARQS by mailing notice of such acceleration by first class mail, postage prepaid, to the holder’s last address as it
shall appear upon the registry books, (ii) to the Trustee by telephone or facsimile confirmed by mailing such notice to the Trustee by first class mail, postage prepaid, at its New York office and (iii) to the Depositary by telephone or facsimile
confirmed by mailing such notice to the Depositary by first class mail, postage prepaid. Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the holder of this SPARQS
receives the notice. If the maturity of this SPARQS is accelerated, no interest on the amounts payable with respect to this SPARQS shall accrue for the period from and after such accelerated maturity date; provided
that the Issuer has deposited with the Trustee the Underlying Stock, the Exchange Property or any cash due with respect to such acceleration by such accelerated maturity date.

The Issuer shall, or shall cause the Calculation Agent to, deliver any such shares of the Underlying Stock (or any Exchange Property) and cash in respect of interest

	

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			 		and any fractional share of the Underlying Stock (or any Exchange Property) and cash otherwise due upon any acceleration described above to the Trustee for delivery to the holder of this Note.
References to payment “per SPARQS” refer to each Stated Principal Amount of this SPARQS.

If this SPARQS is not surrendered for exchange at maturity, it shall be deemed to be no longer Outstanding under, and as defined in, the Senior Indenture, except with respect to the holder’s right to receive Underlying
Stock (and, if applicable, any Exchange Property) and any cash in respect of interest and any fractional share of the Underlying Stock (or any Exchange Property) and any other cash due at maturity as described in the preceding paragraph under this
heading.
	
	 	 	 
	Price Event Acceleration
		 		If on any two consecutive Trading Days during the period prior to and ending on the third Business Day immediately preceding the Maturity Date, the product of the Closing Price of the Underlying Stock
and the Exchange Ratio is less than the Acceleration Trigger Price, the Maturity Date of this SPARQS shall be deemed to be accelerated to the third Business Day immediately following such second Trading Day (the “date of acceleration”).
Upon such acceleration, the holder of each Stated Principal Amount of this SPARQS shall receive per SPARQS on the date of acceleration:

      
        (i) a number of shares of the Underlying Stock at the then current Exchange Ratio;

        (ii) accrued but unpaid interest on each Stated Principal Amount of this SPARQS to but excluding the date of acceleration; and

        (iii) an amount of cash as determined by the Calculation Agent equal to the sum of the present values of the remaining scheduled payments of interest on each Stated Principal Amount of this SPARQS (excluding the amounts
          included in clause (ii) above) discounted to the date of acceleration. The present value of each remaining scheduled payment shall be based on the comparable yield that the Issuer would pay on a

    

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	  non-interest bearing, senior unsecured debt obligation of the Issuer having a maturity equal to the term of each such remaining scheduled payment, as determined by the Calculation Agent.

	  
	
	 	 	 
	 	 	The holder of this SPARQS shall not
      be entitled to receive the return of each Stated Principal Amount of this
    SPARQS upon a Price Event Acceleration.
	 	 	 
	No Fractional Shares
		 		Upon delivery of this SPARQS to the Trustee at maturity, the Issuer shall deliver the aggregate number of shares of the Underlying Stock due with respect to this SPARQS, as described above, but the
Issuer shall pay cash in lieu of delivering any fractional share of the Underlying Stock in an amount equal to the corresponding fractional Closing Price of such fraction of a share of the Underlying Stock as determined by the Calculation Agent as
of the second scheduled Trading Day prior to maturity of this SPARQS.
	
	 	 	 
	Closing Price
		 		The Closing Price for one share of the Underlying Stock (or one unit of any other security for which a Closing Price must be determined) on any Trading Day means:
	

	 	 	 	 
	 	 	• 	if the Underlying
          Stock (or any such other security) is
          listed or admitted to trading on a national securities
          exchange (other than The NASDAQ Stock Market LLC (the “NASDAQ”)),
          the lastreported sale price, regular
          way, of the principal trading session
          on such day on the principal national
          securities exchange registered under the Securities
          Exchange Act of 1934, as amended (the“Exchange
          Act”), on which the Underlying Stock (or
    any such other security) is listed or admitted to trading,

	 	 	 	 
	 	 	• 	if the Underlying
          Stock (or any such other security) is
          a security of the NASDAQ, the official closing price
    published by the NASDAQ on such day, or

	 	 	 	 
	 	 	• 	if the Underlying
          Stock (or any such other security) is
          not listed or admitted to trading on any national securities
          exchange but is included in the OTC Bulletin Board Service (the “OTC
          Bulletin Board”) operated by
          the National Association of Securities Dealers,
          Inc., the last reported sale price of the

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	 	 	 	principal trading
    session on the OTC Bulletin Board on such day.

		 	 
			 		If the Underlying Stock
	      (or any such other security) is listed or admitted to trading on any national
	      securities exchange but the last reported sale price or the official closing
	      price published by NASDAQ, as applicable, is not available pursuant to
	      the preceding sentence, then the Closing Price for one share of the Underlying
	      Stock (or one unit of any such other security) on any Trading Day shall
	      mean the last reported sale price of the principal trading session on
	      the over-the-counter market as reported on the NASDAQ or the OTC Bulletin
	      Board on such day. If a Market Disruption Event occurs with respect to
	      the Underlying Stock (or any such other security) or the last reported
	      sale price or the official closing price published by NASDAQ, as applicable,
	      for the Underlying Stock (or any such other security) is not available
	      pursuant to either of the two preceding sentences, then the Closing Price
	      for any Trading Day shall be the mean, as determined by the Calculation
	      Agent, of the bid prices for the Underlying Stock (or any such other security)
	      for such Trading Day obtained from as many recognized dealers in such
	      security, but not exceeding three, as shall make such bid prices available
	      to the Calculation Agent. Bids of MS & Co. or any of its affiliates may be included in the calculation of such mean, but only to the extent that any such bid is the highest of the bids obtained. The term “OTC Bulletin Board Service” shall
	      include any successor service thereto.

	 	 	 
	Trading Day
		 		A day, as determined by the Calculation Agent, on which trading is generally conducted on the New York Stock Exchange LLC (“NYSE”), the American Stock Exchange LLC, the NASDAQ, the Chicago
Mercantile Exchange, the Chicago Board of Options Exchange and in the over-the-counter market for equity securities in the United States and, if the principal trading market of the Underlying Stock is outside the United States, in such principal
trading market.
	
	 	 	 
	Calculation Agent
		 		Morgan Stanley & Co. Incorporated (“MS & Co.”) and its successors.

All calculations with respect to the Exchange Ratio and Call Price for the SPARQS shall be made by the
	

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			 		Calculation Agent and shall be rounded to the nearest one hundred-thousandth, with five one-millionths rounded upward (e.g., .876545 would be
rounded to .87655); all dollar amounts related to the Call Price resulting from such calculations shall be rounded to the nearest ten-thousandth, with five one hundred- thousandths rounded upward (e.g., .76545 would be rounded to .7655); and all dollar amounts paid with respect to the Call Price on the aggregate number of SPARQS shall be rounded to the nearest cent, with one-half cent rounded upward.

All determinations made by the Calculation Agent shall be at the sole discretion of the Calculation Agent and shall, in the absence of manifest error, be conclusive for all purposes and binding on the holder of this SPARQS, the
Trustee and the Issuer.
	
	 	 	 
	Antidilution Adjustments
		 		The Exchange Ratio shall be adjusted as follows:

1. If the Underlying Stock is subject to a stock split or reverse stock split, then once such split has become effective, the Exchange Ratio shall be adjusted to equal the product of the prior Exchange Ratio and the number of
shares issued in such stock split or reverse stock split with respect to one share of the Underlying Stock.

2. If the Underlying Stock is subject (i) to a stock
    dividend (issuance of additional shares of the Underlying Stock) that is
    given ratably to all holders of shares of the Underlying Stock or (ii) to
    a distribution of the  Underlying Stock as a result of the triggering of
    any provision of the corporate charter of the Underlying Company, then once
    the dividend has become effective and the Underlying Stock is trading ex-dividend,
    the Exchange Ratio shall be adjusted so  that the new Exchange Ratio shall
    equal the prior Exchange Ratio plus the product of (i) the number of shares
issued with respect to one share of the Underlying
Stock and (ii) the prior Exchange Ratio.

3. If
  the Underlying Company issues rights or warrants to all holders of the Underlying
  Stock to subscribe for or purchase Underlying Stock at an exercise price per
  share less than the Closing Price of the Underlying Stock on both (i) the date
  the exercise

12

	
		 
		price of such rights or warrants is determined and (ii) the expiration date of such rights or warrants, and if the expiration date of such rights or warrants precedes the maturity of this SPARQS, then
the Exchange Ratio shall be adjusted to equal the product of the prior Exchange Ratio and a fraction, the numerator of which shall be the number of shares of the Underlying Stock outstanding immediately prior to the issuance of such rights or
warrants plus the number of additional shares of Underlying Stock offered for subscription or purchase pursuant to such rights or warrants and the denominator of which shall be the number of shares of Underlying Stock outstanding immediately prior
to the issuance of such rights or warrants plus the number of additional shares of Underlying Stock which the aggregate offering price of the total number of shares of Underlying Stock so offered for subscription or purchase pursuant to such rights
or warrants would purchase at the Closing Price on the expiration date of such rights or warrants, which shall be determined by multiplying such total number of shares offered by the exercise price of such rights or warrants and dividing the product
so obtained by such Closing Price.

4. There shall be no adjustments to the Exchange Ratio to reflect cash dividends or other distributions paid with respect to the Underlying Stock other than distributions described in paragraph 2, paragraph 3 and clauses (i),
(iv) and (v) of the first sentence of paragraph 5 and Extraordinary Dividends as described below. A cash dividend or other distribution with respect to the Underlying Stock shall be deemed to be an “Extraordinary Dividend” if such cash
dividend or distribution exceeds the immediately preceding non- Extraordinary Dividend for the Underlying Stock by an amount equal to at least 10% of the Closing Price of the Underlying Stock (as adjusted for any subsequent corporate event requiring
an adjustment hereunder, such as a stock split or reverse stock split) on the Trading Day preceding the ex-dividend date (that is, the day on and after which transactions in the Underlying Stock on the primary U.S. organized securities exchange or
trading system on which the Underlying Stock is traded or trading system no longer carry the right to receive that cash dividend or that cash distribution) for the payment of such

	

13

	
		 
		Extraordinary Dividend (such closing price, the “Base Closing Price”). Subject to the following sentence, if an Extraordinary Dividend occurs with respect to the Underlying Stock, the Exchange
Ratio with respect to the Underlying Stock shall be adjusted on the ex- dividend date with respect to such Extraordinary Dividend so that the new Exchange Ratio shall equal the product of (i) the then current Exchange Ratio and (ii) a fraction, the
numerator of which is the Base Closing Price, and the denominator of which is the amount by which the Base Closing Price exceeds the Extraordinary Dividend Amount. If any Extraordinary Dividend Amount is at least 35% of the Base Closing Price, then,
instead of adjusting the Exchange Ratio, the amount payable upon exchange at maturity shall be determined as described in paragraph 5 below, and the Extraordinary Dividend shall be allocated to Reference Basket Stocks in accordance with the
procedures for a Reference Basket Event as described in clause (c)(ii) of paragraph 5 below. The “Extraordinary Dividend Amount” with respect to an Extraordinary Dividend for the Underlying Stock shall equal (i) in the case of cash
dividends or other distributions that constitute regular dividends, the amount per share of such Extraordinary Dividend minus the amount per share of the immediately preceding non-Extraordinary Dividend for the Underlying Stock or (ii) in the case
of cash dividends or other distributions that do not constitute regular dividends, the amount per share of such Extraordinary Dividend. The value of the non- cash component of an Extraordinary Dividend shall be determined on the ex-dividend date for
such distribution by the Calculation Agent, whose determination shall be conclusive in the absence of manifest error. A distribution on the Underlying Stock described in clause (i), (iv) or (v) of the first sentence of paragraph 5 below shall cause
an adjustment to the Exchange Ratio pursuant only to clause (i), (iv) or (v) of the first sentence of paragraph 5, as applicable.

5. Any of the following shall constitute a Reorganization Event: (i) the Underlying Stock is reclassified or changed, including, without limitation, as a result of the issuance of any tracking stock by the Underlying Company,
(ii) the Underlying Company has been subject to any merger, combination or

	

14

	
		 
		consolidation and is not the surviving entity, (iii) the Underlying Company completes a statutory exchange of securities with another corporation (other than pursuant to clause (ii) above), (iv) the
Underlying Company is liquidated, (v) the Underlying Company issues to all of its shareholders equity securities of an issuer other than the Underlying Company (other than in a transaction described in clause (ii), (iii) or (iv) above) (a
“spinoff stock”) or (vi) the Underlying Stock is the subject of a tender or exchange offer or going private transaction on all of the outstanding shares. If any Reorganization Event occurs, in each case as a result of which the holders of
the Underlying Stock receive any equity security listed on a national securities exchange or traded on NASDAQ (a “Marketable Security”), other securities or other property, assets or cash (collectively “Exchange Property”), the
amount payable upon exchange at maturity with respect to each Stated Principal Amount of this SPARQS following the effective date for such Reorganization Event (or, if applicable, in the case of spinoff stock, the ex-dividend date for the
distribution of such spinoff stock) and any required adjustment to the Exchange Ratio shall be determined in accordance with the following:

      
        (a) if the Underlying Stock continues to be outstanding, the Underlying Stock (if applicable, as reclassified upon the issuance of any tracking stock) at the Exchange Ratio in effect on the third Trading Day prior to the
          scheduled Maturity Date (taking into account any adjustments for any distributions described under clause (c)(i) below); and

        (b) for each Marketable Security received in such Reorganization Event (each a “New Stock”), including the issuance of any tracking stock or spinoff stock or the receipt of any stock received in exchange for the
          Underlying Stock, the number of shares of the New Stock received with respect to one share of Underlying Stock multiplied by the Exchange Ratio for Underlying Stock on the Trading Day immediately prior to the effective date of the Reorganization
          Event (the “New Stock Exchange Ratio”), as adjusted to the third Trading

    

15

			 		
	  Day prior to the scheduled Maturity Date (taking into account any adjustments for distributions described under clause (c)(i) below); and

	  (c) for any cash and any other property or securities other than Marketable Securities received in such Reorganization Event (the “Non-Stock Exchange Property”),

	  
	    (i) if the combined value of the amount of Non-Stock
	      Exchange Property received per share of Underlying Stock, as determined
	      by the Calculation Agent in its sole discretion on the effective date
	      of such Reorganization Event  (the “Non-Stock Exchange Property Value”),
	      by holders of the Underlying Stock is less than 25% of the Closing
	      Price of the Underlying Stock on the Trading Day immediately prior
	      to the effective date of such Reorganization Event, a number of shares
	      of the Underlying Stock, if applicable, and of any New Stock received in
	        connection with such Reorganization Event,
	          if applicable, in proportion to the relative Closing Prices of the Underlying
	          Stock and any such New Stock, and with an aggregate value equal to the Non-Stock
	          Exchange Property Value multiplied by the Exchange Ratio in effect for the
	          Underlying Stock on the Trading Day immediately prior to the effective date
	          of such Reorganization Event, based on such Closing Prices, in each case
	          as determined by the Calculation Agent in its sole discretion on the effective
	          date of such Reorganization Event; and the number of such shares of Underlying
	          Stock or any New Stock determined in accordance with this clause (c)(i) shall
	          be added at the time of such adjustment to the Exchange Ratio in subparagraph
	          (a) above and/or the New Stock Exchange Ratio in subparagraph (b) above,
	          as applicable, or

	    (ii) if the Non-Stock Exchange Property Value
	      is equal to or exceeds 25% of the Closing Price of Underlying Stock on
	      the Trading Day immediately prior to the effective date relating to such
	      Reorganization Event or, if the

	    

	
	  

16

	 
		 
		
	  
	    Underlying Stock is surrendered exclusively for Non-Stock Exchange Property (in each case, a “Reference Basket Event”), an initially equal- dollar weighted basket of three Reference Basket
	      Stocks (as defined below) with an aggregate value on the effective date of such Reorganization Event equal to the Non-Stock Exchange Property Value multiplied by the Exchange Ratio in effect for the Underlying Stock on the Trading Day immediately
	      prior to the effective date of such Reorganization Event. The “Reference Basket Stocks” shall be the three stocks with the largest market capitalization among the stocks that then constitute the S&P 500 Index (or, if publication of
	      such index is discontinued, any successor or substitute index selected by the Calculation Agent in its sole discretion) with the same primary Standard Industrial Classification Code (“SIC Code”) as the Underlying Company; provided, however, that a Reference Basket Stock shall not include any stock that is subject to a trading restriction under the trading restriction policies of Morgan Stanley or any of its affiliates that
	        would materially limit the ability of Morgan Stanley or any of its affiliates to hedge the SPARQS with respect to such stock (a “Hedging Restriction”); provided further that if
	          three Reference Basket Stocks cannot be identified from the S&P 500 Index by primary SIC Code for which a Hedging Restriction does not exist, the remaining Reference Basket Stock(s) shall be selected by the Calculation Agent from the largest
	          market capitalization stock(s) within the same Division and Major Group classification (as defined by the Office of Management and Budget) as the primary SIC Code for the Underlying Company. Each Reference Basket Stock shall be assigned a Basket
	          Stock Exchange Ratio equal to the number of shares of such Reference Basket Stock with a Closing Price on the effective date of such Reorganization Event equal to the product of (a) the Non-Stock Exchange Property Value, (b) the Exchange Ratio in
	          effect for the Underlying Stock on the

	    

	

17

		 	
    
      Trading Day immediately prior to the
        effective date of such Reorganization Event and (c) 0.3333333.

    

  

		 	 
			 		Following the allocation of any Extraordinary Dividend to Reference Basket Stocks pursuant to paragraph 4 above or any Reorganization Event described in this paragraph 5, the amount payable upon exchange at maturity with
respect to each Stated Principal Amount of this SPARQS shall be the sum of:

	 	 	 
	 	
(x)      		
if applicable, the Underlying Stock at the Exchange Ratio then in effect; and	
	 
	 	
(y)      		
if applicable, for each New Stock, such New Stock at the New Stock Exchange Ratio then in effect for such New Stock; and	
	 
	 	
(z)      		
if applicable, for each Reference Basket Stock, such Reference Basket Stock at the Basket Stock Exchange Ratio then in effect for such Reference Basket Stock.	
	 

	
		 
		In each case, the applicable Exchange Ratio (including for this purpose, any New Stock Exchange Ratio or Basket Stock Exchange Ratio) shall be determined by the Calculation Agent on the third Trading
Day prior to the scheduled Maturity Date.

For purposes of paragraph 5 above, in the case of a consummated tender or exchange offer or going- private transaction involving consideration of particular types, Exchange Property shall be deemed to include the amount of cash
or other property delivered by the offeror in the tender or exchange offer (in an amount determined on the basis of the rate of exchange in such tender or exchange offer or going-private transaction). In the event of a tender or exchange offer or a
going-private transaction with respect to Exchange Property in which an offeree may elect to receive cash or other property, Exchange Property shall be deemed to include the kind and amount of cash and other property received by offerees who elect
to receive cash.

Following the occurrence of any Reorganization Event referred to in paragraphs 4 or 5 above, (i) references to

	

18

	
		 
		“Underlying Stock” under “No Fractional Shares,” “Closing Price” and “Market Disruption Event” shall be deemed to also refer to any New Stock or Reference Basket
Stock, and (ii) all other references in this SPARQS to “Underlying Stock” shall be deemed to refer to the Exchange Property into which this SPARQS is thereafter exchangeable and references to a “share” or “shares” of
Underlying Stock shall be deemed to refer to the applicable unit or units of such Exchange Property, including any New Stock or Reference Basket Stock, unless the context otherwise requires. The New Stock Exchange Ratio(s) or Basket Stock Exchange
Ratios resulting from any Reorganization Event described in paragraph 5 above or similar adjustment under paragraph 4 above shall be subject to the adjustments set forth in paragraphs 1 through 5 hereof.

If a Reference Basket Event occurs, the Issuer shall, or shall cause the Calculation Agent to, provide written notice to the Trustee at its New York office, on which notice the Trustee may conclusively rely, and to DTC of the
occurrence of such Reference Basket Event and of the three Reference Basket Stocks selected as promptly as possible and in no event later than five Business Days after the date of the Reference Basket Event.

No adjustment to any Exchange Ratio (including for this purpose, any New Stock Exchange Ratio or Basket Stock Exchange Ratio) shall be required unless such adjustment would require a change of at least 0.1% in the Exchange
Ratio then in effect. The Exchange Ratio resulting from any of the adjustments specified above shall be rounded to the nearest one hundred- thousandth, with five one-millionths rounded upward. Adjustments to the Exchange Ratios shall be made up to
the close of business on the third Trading Day prior to the scheduled Maturity Date.

No adjustments to the Exchange Ratio or method of calculating the Exchange Ratio shall be made other than those specified above.

The Calculation Agent shall be solely responsible for the determination and calculation of any adjustments to the Exchange Ratio, any New Stock Exchange Ratio or

	

19

			 		Basket Stock Exchange Ratio or method of calculating the Exchange Property Value and of any related determinations and calculations with respect to any distributions of stock, other securities or other
property or assets (including cash) in connection with any corporate event described in paragraphs 1 through 5 above, and its determinations and calculations with respect thereto shall be conclusive in the absence of manifest error.

The Calculation Agent shall provide information as to any adjustments to the Exchange Ratio, or to the method of calculating the amount payable upon exchange at maturity of the SPARQS made pursuant to paragraph 5 above, upon
written request by the holder of this SPARQS.
	
	 	 	 
	Market Disruption Event
		 		Market Disruption Event means, with respect to the Underlying Stock:

      
        (i) a suspension, absence or material limitation of trading of the Underlying Stock on the primary market for the Underlying Stock for more than two hours of trading or during the one-half hour period preceding the close of the
          principal trading session in such market; or a breakdown or failure in the price and trade reporting systems of the primary market for the Underlying Stock as a result of which the reported trading prices for the Underlying Stock during the last
          one-half hour preceding the close of the principal trading session in such market are materially inaccurate; or the suspension, absence or material limitation of trading on the primary market for trading in options contracts related to the
          Underlying Stock, if available, during the one-half hour period preceding the close of the principal trading session in the applicable market, in each case as determined by the Calculation Agent in its sole discretion; and

        (ii) a determination by the Calculation Agent in its sole discretion that any event described in clause (i) above materially interfered with the ability of the Issuer or any of its affiliates to unwind or adjust all or a
          material portion of the hedge with respect to this issuance of SPARQS.

    

20

	 		 		For purposes of determining whether a Market Disruption Event has occurred: (1) a limitation on the hours or number of days of trading shall not constitute a Market Disruption Event if it results from
an announced change in the regular business hours of the primary market, (2) a decision to permanently discontinue trading in the relevant options contract shall not constitute a Market Disruption Event, (3) limitations pursuant to NYSE Rule 80A (or
any applicable rule or regulation enacted or promulgated by the NYSE, any other self-regulatory organization or the Securities and Exchange Commission of scope similar to NYSE Rule 80A as determined by the Calculation Agent) on trading during
significant market fluctuations shall constitute a suspension, absence or material limitation of trading, (4) a suspension of trading in options contracts on the Underlying Stock by the primary securities market trading in such options, if
available, by reason of (x) a price change exceeding limits set by such securities exchange or market, (y) an imbalance of orders relating to such contracts or (z) a disparity in bid and ask quotes relating to such contracts shall constitute a
suspension, absence or material limitation of trading in options contracts related to the Underlying Stock and (5) a suspension, absence or material limitation of trading on the primary securities market on which options contracts related to the
Underlying Stock are traded shall not include any time when such securities market is itself closed for trading under ordinary circumstances.
	
	 	 	 
	Alternate Exchange Calculation	 	 
	      in Case of an Event of Default

	 		In case an event of default with respect to the SPARQS shall have occurred and be continuing, the amount declared due and payable per each Stated Principal Amount of this SPARQS upon any acceleration of
this SPARQS (an “Event of Default Acceleration”) shall be determined by the Calculation Agent and shall be an amount in cash equal to the lesser of (i) the product of (x) the Closing Price of the Underlying Stock (and/or the value of any
Exchange Property) as of the date of such acceleration and (y) the then current Exchange Ratio and (ii) the Call Price calculated as though the date of acceleration were the Call Date (but in no event less than the Call Price for the first Call
Date), in each
	

21

	 
		 
		case plus accrued but unpaid interest to but excluding the date of acceleration; provided that if the Issuer has called the SPARQS in
accordance with the Morgan Stanley Call Right, the amount declared due and payable upon any such acceleration shall be an amount in cash for each Stated Principal Amount of this SPARQS equal to the Call Price for the Call Date specified in the
Issuer’s notice of mandatory exchange, plus accrued but unpaid interest to but excluding the date of acceleration.

	

22

     Morgan Stanley, a Delaware corporation (together with its successors and assigns, the “Issuer”), for value received, hereby
promises to pay to CEDE & CO., or registered assignees, the amount of Underlying Stock (or other Exchange Property), as determined in accordance with the provisions set forth under “Exchange at Maturity” above, due with respect to the
principal sum of U.S.$                   (UNITED STATES DOLLARS                                     ) on the Maturity Date specified above (except to the extent redeemed or repaid prior to maturity) and to pay interest thereon at the Interest Rate per annum specified above, from and including the
Interest Accrual Date specified above until the principal hereof is paid or duly made available for payment weekly, monthly, quarterly, semiannually or annually in arrears as specified above as the Interest Payment Period on each Interest Payment
Date (as specified above), commencing on the Interest Payment Date next succeeding the Interest Accrual Date specified above, and at maturity (or on any redemption or repayment date); provided, however, that if the Interest Accrual Date occurs between a Record Date, as defined below, and the next succeeding Interest Payment Date, interest payments will commence on the second Interest Payment Date succeeding the Interest Accrual Date
to the registered holder of this Note on the Record Date with respect to such second Interest Payment Date; and provided, further, that if this Note is subject to “Annual Interest
Payments,” interest payments shall be made annually in arrears and the term “Interest Payment Date” shall be deemed
to mean the first day of March in each year.

     Interest on this Note will accrue from and including the most recent date to which interest has been paid or duly provided for, or, if no interest has been paid or duly provided for, from and
including the Interest Accrual Date, until but excluding the date the principal hereof has been paid or duly made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, subject to
certain exceptions described herein, be paid to the person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on the date 15 calendar days prior to such Interest Payment Date (whether or not a Business
Day (as defined below)) (each such date, a “Record Date”); provided, however, that interest payable at maturity (or any
redemption or repayment date) will be payable to the person to whom the principal hereof shall be payable. As used herein, “Business Day” means any day, other than a Saturday or
Sunday, (a) that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or regulation to close (x) in The City of New York or (y) if this Note is denominated in a Specified Currency other than U.S.
dollars, euro or Australian dollars, in the principal financial center of the country of the Specified Currency, or (z) if this Note is denominated in Australian dollars, in Sydney and (b) if this Note is denominated in euro, that is also a day on
which the Trans-European Automated Real-time Gross Settlement Express Transfer System (“TARGET”) is operating (a “TARGET Settlement
Day”).

     Payment of the principal of this Note, any premium and the interest due at maturity (or any redemption or repayment date), unless this Note is denominated in a Specified Currency other than U.S.
dollars and is to be paid in whole or in part in such Specified Currency, will be made in immediately available funds upon surrender of this Note at the office or agency of the Paying Agent, as defined on the reverse hereof, maintained for that
purpose in the Borough of Manhattan, The City of New York, or at such other paying agency as the Issuer may determine, in U.S. dollars. U.S. dollar payments of interest, other than interest due at maturity or on any date of redemption or repayment,
will be made by U.S. dollar check mailed to the address of the

23

person entitled thereto as such address shall appear in the Note register.  A holder of U.S. $10,000,000 (or the equivalent in a Specified Currency) or more in aggregate principal amount of Notes having the same Interest
Payment Date, the interest on which is payable in U.S. dollars, shall be entitled to receive payments of interest, other than interest due at maturity or on any date of redemption or repayment, by wire transfer of immediately available funds if
appropriate wire transfer instructions have been received by the Paying Agent in writing not less than 15 calendar days prior to the applicable Interest Payment Date.

     If this Note is denominated in a Specified Currency other than U.S. dollars, and the holder does not elect (in whole or in part) to receive payment in U.S. dollars pursuant to the next succeeding
paragraph, payments of interest, principal or any premium with regard to this Note will be made by wire transfer of immediately available funds to an account maintained by the holder hereof with a bank located outside the United States if
appropriate wire transfer instructions have been received by the Paying Agent in writing, with respect to payments of interest, on or prior to the fifth Business Day after the applicable Record Date and, with respect to payments of principal or any
premium, at least ten Business Days prior to the Maturity Date or any redemption or repayment date, as the case may be; provided that, if payment of interest, principal or any premium with
regard to this Note is payable in euro, the account must be a euro account in a country for which the euro is the lawful currency, provided, further, that if such wire transfer instructions
are not received, such payments will be made by check payable in such Specified Currency mailed to the address of the person entitled thereto as such address shall appear in the Note register; and provided,
further, that payment of the principal of this Note, any premium and the interest due at maturity (or on any redemption or repayment date) will be made upon surrender of this Note at the office or agency referred to in
the preceding paragraph.

     If so indicated on the face hereof, the holder of this Note, if denominated in a Specified Currency other than U.S. dollars, may elect to receive all or a portion of payments on this Note in U.S.
dollars by transmitting a written request to the Paying Agent, on or prior to the fifth Business Day after such Record Date or at least ten Business Days prior to the Maturity Date or any redemption or repayment date, as the case may be.  Such
election shall remain in effect unless such request is revoked by written notice to the Paying Agent as to all or a portion of payments on this Note at least five Business Days prior to such Record Date, for payments of interest, or at least ten
calendar days prior to the Maturity Date or any redemption or repayment date, for payments of principal, as the case may be.

     If the holder elects to receive all or a portion of payments of principal of, premium, if any, and interest on this Note, if denominated in a Specified Currency other than U.S. dollars, in U.S.
dollars, the Exchange Rate Agent (as defined on the reverse hereof) will convert such payments into U.S. dollars. In the event of such an election, payment in respect of this Note will be based upon the exchange rate as determined by the Exchange
Rate Agent based on the highest bid quotation in The City of New York received by such Exchange Rate Agent at approximately 11:00 a.m., New York City time, on the second Business Day preceding the applicable payment date from three recognized
foreign exchange dealers (one of which may be the Exchange Rate Agent unless such Exchange Rate Agent is an affiliate of the Issuer) for the purchase by the quoting dealer of the Specified Currency for U.S. dollars for settlement on such payment
date in the amount of the Specified Currency payable in the absence of such an election to such holder

24

and at which the applicable dealer commits to execute a contract. If such bid quotations are not available, such payment will be made in the Specified Currency. All currency exchange costs will be borne by the holder of this Note
by deductions from such payments.

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

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

25

     IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed.

DATED:

  	MORGAN STANLEY
	 	 	 
	By:	 
	 	

	 	Name:	 
	 	Title:	 

TRUSTEE’S CERTIFICATE 

      OF AUTHENTICATION

This is one of the Notes referred 

      to in the within-mentioned 

      Senior Indenture.

	THE BANK OF NEW YORK,  
	      as
        Trustee 
	 	 	 
	By:	 
	 	

	 	Authorized Signatory 

26

FORM OF REVERSE OF SECURITY

     This Note is one of a duly authorized issue of Senior Global Medium-Term Notes, Series F (the “Notes”) of the Issuer.  The Notes
are issuable under a Senior Indenture, dated as of November 1, 2004, between the Issuer and The Bank of New York, a New York banking corporation (as successor Trustee to JPMorgan Chase Bank, N.A. (formerly known as JPMorgan Chase Bank)), as Trustee
(the “Trustee,” which term includes any successor trustee under the Senior Indenture) (as may be amended or supplemented from time to time, the “Senior Indenture”), to which Senior Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities of
the Issuer, the Trustee and holders of the Notes and the terms upon which the Notes are, and are to be, authenticated and delivered. The Issuer has appointed The Bank of New York (as successor to JPMorgan Chase Bank, N.A.) at its corporate trust
office in The City of New York as the paying agent (the “Paying Agent,” which term includes any additional or successor Paying Agent appointed by the Issuer) with respect to the
Notes. The terms of individual Notes may vary with respect to interest rates, interest rate formulas, issue dates, maturity dates, or otherwise, all as provided in the Senior Indenture. To the extent not inconsistent herewith, the terms of the
Senior Indenture are hereby incorporated by reference herein.

     Unless otherwise indicated on the face hereof, this Note will not be subject to any sinking fund and, unless otherwise provided on the face hereof in accordance with the provisions of the following
two paragraphs, will not be redeemable or subject to repayment at the option of the holder prior to maturity.

     If so indicated on the face hereof, this Note may be redeemed in whole or in part at the option of the Issuer on or after the Initial Redemption Date specified on the face hereof on the terms set
forth on the face hereof, together with interest accrued and unpaid hereon to the date of redemption. If this Note is subject to “Annual Redemption Percentage Reduction,” the Initial Redemption Percentage indicated on the face hereof will
be reduced on each anniversary of the Initial Redemption Date by the Annual Redemption Percentage Reduction specified on the face hereof until the redemption price of this Note is 100% of the principal amount hereof, together with interest accrued
and unpaid hereon to the date of redemption. If the face hereof indicates that this Note is subject to “Modified Payment upon Acceleration or Redemption”, the amount of principal payable upon redemption will be limited to the aggregate
principal amount hereof multiplied by the sum of the Issue Price specified on the face hereof (expressed as a percentage of the aggregate principal amount) plus the original issue discount accrued from the Interest Accrual Date to the date of
redemption (expressed as a percentage of the aggregate principal amount), with the amount of original issue discount accrued being calculated using a constant yield method (as described below).  Notice of redemption shall be mailed to the registered
holders of the Notes designated for redemption at their addresses as the same shall appear on the Note register not less than 30 nor more than 60 calendar days prior to the date fixed for redemption or within the Redemption Notice Period specified
on the face hereof, subject to all the conditions and provisions of the Senior Indenture. In the event of redemption of this Note in part only, a new Note or Notes for the amount of the unredeemed portion hereof shall be issued in the name of the
holder hereof upon the cancellation hereof.

27

     If so indicated on the face of this Note, this Note will be subject to repayment at the option of the holder on the Optional Repayment Date or Dates specified on the face hereof on the terms set forth
herein. On any Optional Repayment Date, this Note will be repayable in whole or in part in increments of $1,000 or, if this Note is denominated in a Specified Currency other than U.S. dollars, in increments of 1,000 units of such Specified
Currency (provided that any remaining principal amount hereof shall not be less than the minimum authorized denomination hereof) at the option of the holder hereof at a price equal to 100% of the principal amount to be repaid, together with interest
accrued and unpaid hereon to the date of repayment, provided that if the face hereof indicates that this Note is subject to “Modified Payment upon Acceleration or Redemption”, the
amount of principal payable upon repayment will be limited to the aggregate principal amount hereof multiplied by the sum of the Issue Price specified on the face hereof (expressed as a percentage of the aggregate principal amount) plus the original
issue discount accrued from the Interest Accrual Date to the date of repayment (expressed as a percentage of the aggregate principal amount), with the amount of original issue discount accrued being calculated using a constant yield method (as
described below). For this Note to be repaid at the option of the holder hereof, the Paying Agent must receive at its corporate trust office in the Borough of Manhattan, The City of New York, at least 15 but not more than 30 calendar days prior to
the date of repayment, (i) this Note with the form entitled “Option to Elect Repayment” below duly completed or (ii) a telegram, telex, facsimile transmission or a letter from a member of a national securities exchange or the National
Association of Securities Dealers, Inc. or a commercial bank or a trust company in the United States setting forth the name of the holder of this Note, the principal amount hereof, the certificate number of this Note or a description of this
Note’s tenor and terms, the principal amount hereof to be repaid, a statement that the option to elect repayment is being exercised thereby and a guarantee that this Note, together with the form entitled “Option to Elect Repayment”
duly completed, will be received by the Paying Agent not later than the fifth Business Day after the date of such telegram, telex, facsimile transmission or letter; provided, that such
telegram, telex, facsimile transmission or letter shall only be effective if this Note and form duly completed are received by the Paying Agent by such fifth Business Day. Exercise of such repayment option by the holder hereof shall be irrevocable.
In the event of repayment of this Note in part only, a new Note or Notes for the amount of the unpaid portion hereof shall be issued in the name of the holder hereof upon the cancellation hereof.

     Interest payments on this Note will include interest accrued to but excluding the Interest Payment Dates or the Maturity Date (or any earlier redemption or repayment date), as the case may be. Unless
otherwise provided on the face hereof, interest payments for this Note will be computed and paid on the basis of a 360-day year of twelve 30-day months.

     In the case where the Interest Payment Date or the Maturity Date (or any redemption or repayment date) does not fall on a Business Day, payment of interest, premium, if any, or principal otherwise
payable on such date need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the Interest Payment Date or on the Maturity Date (or any redemption or repayment date), and no
interest on such payment shall accrue for the period from and after the Interest Payment Date or the Maturity Date (or any redemption or repayment date) to such next succeeding Business Day.

28

     This Note and all the obligations of the Issuer hereunder are direct, unsecured obligations of the Issuer and rank without preference or priority among themselves and pari
passu with all other existing and future unsecured and unsubordinated indebtedness of the Issuer, subject to certain statutory exceptions in the event of liquidation upon insolvency.

     This Note, and any Note or Notes issued upon transfer or exchange hereof, is issuable only in fully registered form, without coupons, and, if denominated in U.S. dollars, unless otherwise stated
above, is issuable only in denominations of U.S. $1,000 and any integral multiple of U.S. $1,000 in excess thereof. If this Note is denominated in a Specified Currency other than U.S. dollars, then, unless a higher minimum denomination is
required by applicable law, it is issuable only in denominations of the equivalent of U.S. $1,000 (rounded to an integral multiple of 1,000 units of such Specified Currency), or any amount in excess thereof which is an integral multiple of 1,000
units of such Specified Currency, as determined by reference to the noon dollar buying rate in The City of New York for cable transfers of such Specified Currency published by the Federal Reserve Bank of New York (the “Market Exchange Rate”) on the Business Day immediately preceding the date of issuance.

     The Trustee has been appointed registrar for the Notes, and the Trustee will maintain at its office in The City of New York a register for the registration and transfer of Notes. This Note may be
transferred at the aforesaid office of the Trustee by surrendering this Note for cancellation, accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Trustee and duly executed by the registered holder hereof in
person or by the holder’s attorney duly authorized in writing, and thereupon the Trustee shall issue in the name of the transferee or transferees, in exchange herefor, a new Note or Notes having identical terms and provisions and having a like
aggregate principal amount in authorized denominations, subject to the terms and conditions set forth herein; provided, however, that the Trustee will not be required (i) to register the
transfer of or exchange any Note that has been called for redemption in whole or in part, except the unredeemed portion of Notes being redeemed in part, (ii) to register the transfer of or exchange any Note if the holder thereof has exercised his
right, if any, to require the Issuer to repurchase such Note in whole or in part, except the portion of such Note not required to be repurchased, or (iii) to register the transfer of or exchange Notes to the extent and during the period so provided
in the Senior Indenture with respect to the redemption of Notes. Notes are exchangeable at said office for other Notes of other authorized denominations of equal aggregate principal amount having identical terms and provisions.  All such exchanges
and transfers of Notes will be free of charge, but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge in connection therewith. All Notes surrendered for exchange shall be accompanied by a written
instrument of transfer in form satisfactory to the Issuer and the Trustee and executed by the registered holder in person or by the holder’s attorney duly authorized in writing. The date of registration of any Note delivered upon any exchange
or transfer of Notes shall be such that no gain or loss of interest results from such exchange or transfer.

     In case this Note shall at any time become mutilated, defaced or be destroyed, lost or stolen and this Note or evidence of the loss, theft or destruction thereof (together with the

29

indemnity hereinafter referred to and such other documents or proof as may be required in the premises) shall be delivered to the Trustee, the Issuer in its discretion may execute a new Note of like tenor in exchange for this
Note, but, if this Note is destroyed, lost or stolen, only upon receipt of evidence satisfactory to the Trustee and the Issuer that this Note was destroyed or lost or stolen and, if required, upon receipt also of indemnity satisfactory to each of
them.  All expenses and reasonable charges associated with procuring such indemnity and with the preparation, authentication and delivery of a new Note shall be borne by the owner of the Note mutilated, defaced, destroyed, lost or stolen.

     The Senior Indenture provides that (a) if an Event of Default (as defined in the Senior Indenture) due to the default in payment of principal of, premium, if any, or interest on, any series of debt
securities issued under the Senior Indenture, including the series of Senior Medium-Term Notes of which this Note forms a part, or due to the default in the performance or breach of any other covenant or warranty of the Issuer applicable to the debt
securities of such series but not applicable to all outstanding debt securities issued under the Senior Indenture shall have occurred and be continuing, either the Trustee or the holders of not less than 25% in aggregate principal amount of the
outstanding debt securities of each affected series, voting as one class, by notice in writing to the Issuer and to the Trustee, if given by the securityholders, may then declare the principal of all debt securities of all such series and interest
accrued thereon to be due and payable immediately and (b) if an Event of Default due to a default in the performance of any other of the covenants or agreements in the Senior Indenture applicable to all outstanding debt securities issued thereunder,
including this Note, or due to certain events of bankruptcy, insolvency or reorganization of the Issuer, shall have occurred and be continuing, either the Trustee or the holders of not less than 25% in aggregate principal amount of all outstanding
debt securities issued under the Senior Indenture, voting as one class, by notice in writing to the Issuer and to the Trustee, if given by the securityholders, may declare the principal of all such debt securities and interest accrued thereon to be
due and payable immediately, but upon certain conditions such declarations may be annulled and past defaults may be waived (except a continuing default in payment of principal or premium, if any, or interest on such debt securities) by the holders
of a majority in aggregate principal amount of the debt securities of all affected series then outstanding.

     If the face hereof indicates that this Note is subject to “Modified Payment upon Acceleration or Redemption,” then (i) if the principal hereof is declared to be due and payable as described
in the preceding paragraph, the amount of principal due and payable with respect to this Note shall be limited to the aggregate principal amount hereof multiplied by the sum of the Issue Price specified on the face hereof (expressed as a percentage
of the aggregate principal amount) plus the original issue discount accrued from the Interest Accrual Date to the date of declaration (expressed as a percentage of the aggregate principal amount), with the amount of original issue discount accrued
being calculated using a constant yield method (as described in the next paragraph), (ii) for the purpose of any vote of securityholders taken pursuant to the Senior Indenture prior to the acceleration of payment of this Note, the principal amount
hereof shall equal the amount that would be due and payable hereon, calculated as set forth in clause (i) above, if this Note were declared to be due and payable on the date of any such vote and (iii) for the purpose of any vote of securityholders
taken pursuant to the Senior Indenture following the 

30

acceleration of payment of this Note, the principal amount hereof shall equal the amount of principal due and payable with respect to this Note, calculated as set forth in clause (i) above.

     The constant yield shall be calculated using a 30-day month, 360-day year convention, a compounding period that, except for the initial period (as defined below), corresponds to the shortest period
between Interest Payment Dates (with ratable accruals within a compounding period), and an assumption that the maturity will not be accelerated. If the period from the Original Issue Date to the first Interest Payment Date (the “initial
period”) is shorter than the compounding period for this Note, a proportionate amount of the yield for an entire compounding period will be accrued. If the initial period is longer than the compounding period, then the period will be divided
into a regular compounding period and a short period with the short period being treated as provided in the preceding sentence.

     If the face hereof indicates that this Note is subject to “Tax Redemption and Payment of Additional Amounts,” this Note may be redeemed, as a whole, at the option of the Issuer at any time
prior to maturity, upon the giving of a notice of redemption as described below, at a redemption price equal to 100% of the principal amount hereof, together with accrued interest to the date fixed for redemption (except that if this Note is subject
to “Modified Payment upon Acceleration or Redemption,” the amount of principal so payable will be limited to the aggregate principal amount hereof multiplied by the sum of the Issue Price specified on the face hereof (expressed as a
percentage of the aggregate principal amount) plus the original issue discount accrued from the Interest Accrual Date to the date of redemption (expressed as a percentage of the aggregate principal amount), with the amount of original issue discount
accrued being calculated using a constant yield method (as described above)), if the Issuer determines that, as a result of any change in or amendment to the laws (including a holding, judgment or as ordered by a court of competent jurisdiction), or
any regulations or rulings promulgated thereunder, of the United States or of any political subdivision or taxing authority thereof or therein affecting taxation, or any change in official position regarding the application or interpretation of such
laws, regulations or rulings, which change or amendment occurs, becomes effective or, in the case of a change in official position, is announced on or after the Initial Offering Date hereof, the Issuer has or will become obligated to pay Additional
Amounts, as defined below, with respect to this Note as described below. Prior to the giving of any notice of redemption pursuant to this paragraph, the Issuer shall deliver to the Trustee (i) a certificate stating that the Issuer is entitled to
effect such redemption and setting forth a statement of facts showing that the conditions precedent to the right of the Issuer to so redeem have occurred, and (ii) an opinion of independent legal counsel satisfactory to the Trustee to such effect
based on such statement of facts; provided that no such notice of redemption shall be given earlier than 60 calendar days prior to the earliest date on which the Issuer would be obligated to
pay such Additional Amounts if a payment in respect of this Note were then due.

     Notice of redemption will be given not less than 30 nor more than 60 calendar days prior to the date fixed for redemption or within the Redemption Notice Period specified on the face hereof, which
date and the applicable redemption price will be specified in the notice.

31

     If the face hereof indicates that this Note is subject to “Tax Redemption and Payment of Additional Amounts,” the Issuer will, subject to certain exceptions and limitations set forth below,
pay such additional amounts (the “Additional Amounts”) to the holder of this Note who is a U.S. Alien as may be necessary in order that every net payment of the principal of and
interest on this Note and any other amounts payable on this Note, after withholding or deduction for or on account of any present or future tax, assessment or governmental charge imposed upon or as a result of such payment by the United States, or
any political subdivision or taxing authority thereof or therein, will not be less than the amount provided for in this Note to be then due and payable. The Issuer will not, however, make any payment of Additional Amounts to any such holder who is a
U.S. Alien for or on account of:

     (a) any present or future tax, assessment or other governmental charge that would not have been so imposed but for (i) the existence of any present or former connection between such holder, or between
a fiduciary, settlor, beneficiary, member or shareholder of such holder, if such holder is an estate, a trust, a partnership or a corporation for U.S. federal income tax purposes, and the United States, including, without limitation, such holder, or
such fiduciary, settlor, beneficiary, member or shareholder, being or having been a citizen or resident thereof or being or having been engaged in a trade or business or present therein or having, or having had, a permanent establishment therein or
(ii) the presentation by or on behalf of the holder of this Note for payment on a date more than 15 calendar days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs
later; 

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

     (c) any tax, assessment or other governmental charge imposed by reason of such holder’s past or present status as a controlled foreign corporation or passive foreign investment company with
respect to the United States or as a corporation which accumulates earnings to avoid U.S. federal income tax or as a private foundation or other tax-exempt organization or a bank receiving interest under Section 881(c)(3)(A) of the Internal Revenue
Code of 1986, as amended;

     (d) any tax, assessment or other governmental charge that is payable otherwise than by withholding or deduction from payments on or in respect of this Note;

     (e) any tax, assessment or other governmental charge required to be withheld by any Paying Agent from any payment of principal of, or interest on, this Note, if such payment can be made without such
withholding by any other Paying Agent in a city in Western Europe;

     (f) any tax, assessment or other governmental charge that would not have been imposed but for the failure to comply with certification, information or other reporting requirements concerning the
nationality, residence or identity of the holder or beneficial owner of this Note, if such compliance is required by statute or by regulation of the United States or of any political subdivision or taxing authority thereof or therein as a
precondition to relief or exemption from such tax, assessment or other governmental charge;

32

     (g) any tax, assessment or other governmental charge imposed by reason of such holder’s past or present status as the actual or constructive owner of 10% or more of the total combined voting
power of all classes of stock entitled to vote of the Issuer or as a direct or indirect subsidiary of the Issuer; or

     (h) any combination of items (a), (b), (c), (d), (e), (f) or (g).

In addition, the Issuer shall not be required to make any payment of Additional Amounts (i) to any such holder where such withholding or deduction is imposed on a payment to an individual and is required to be made pursuant to any
law implementing or complying with, or introduced in order to conform to, any European Union Directive on the taxation of savings; or (ii) by or on behalf of a holder who would have been able to avoid such withholding or deduction by presenting this
Note or the relevant coupon to another Paying Agent in a member state of the European Union. Nor shall the Issuer pay Additional Amounts with respect to any payment on this Note to a U.S. Alien who is a fiduciary or partnership or other than the
sole beneficial owner of such payment to the extent such payment would be required by the laws of the United States (or any political subdivision thereof) to be included in the income, for tax purposes, of a beneficiary or settlor with respect to
such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to the Additional Amounts had such beneficiary, settlor, member or beneficial owner been the holder of this Note.

     The Senior Indenture permits the Issuer and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the debt securities of all series issued under the
Senior Indenture then outstanding and affected (voting as one class), to execute supplemental indentures adding any provisions to or changing in any manner the rights of the holders of each series so affected; provided that the Issuer and the Trustee may not, without the consent of the holder of each outstanding debt security affected thereby, (a) extend the final maturity of any such debt security, or reduce the
principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any amount payable on redemption thereof, or change the currency of payment thereof, or modify or amend the provisions for conversion of any
currency into any other currency, or modify or amend the provisions for conversion or exchange of the debt security for securities of the Issuer or other entities or for other property or the cash value of the property (other than as provided in the
antidilution provisions or other similar adjustment provisions of the debt securities or otherwise in accordance with the terms thereof), or impair or affect the rights of any holder to institute suit for the payment thereof or (b) reduce the
aforesaid percentage in principal amount of debt securities the consent of the holders of which is required for any such supplemental indenture.

     Except as set forth below, if the principal of, premium, if any, or interest on this Note is payable in a Specified Currency other than U.S. dollars and such Specified Currency is not available to the
Issuer for making payments hereon due to the imposition of exchange controls or other circumstances beyond the control of the Issuer or is no longer used by the government of the country issuing such currency or for the settlement of transactions by
public institutions within the international banking community, then the Issuer will be entitled to satisfy its obligations to the holder of this Note by making such payments in U.S. dollars on the basis of the Market Exchange Rate on the date of
such payment or, if the Market Exchange Rate is not available on such date, as of the most recent practicable date; provided, however, that if the euro

33

has been substituted for such Specified Currency, the Issuer may at its option (or shall, if so required by applicable law) without the consent of the holder of this Note effect the payment of principal of, premium, if any, or
interest on any Note denominated in such Specified Currency in euro in lieu of such Specified Currency in conformity with legally applicable measures taken pursuant to, or by virtue of, the Treaty establishing the European Community, as amended. Any
payment made under such circumstances in U.S. dollars or euro where the required payment is in an unavailable Specified Currency will not constitute an Event of Default.  If such Market Exchange Rate is not then available to the Issuer or is not
published for a particular Specified Currency, the Market Exchange Rate will be based on the highest bid quotation in The City of New York received by the Exchange Rate Agent at approximately 11:00 a.m., New York City time, on the second Business
Day preceding the date of such payment from three recognized foreign exchange dealers (the “Exchange Dealers”) for the purchase by the quoting Exchange Dealer of the Specified
Currency for U.S. dollars for settlement on the payment date, in the aggregate amount of the Specified Currency payable to those holders or beneficial owners of Notes and at which the applicable Exchange Dealer commits to execute a contract. One of
the Exchange Dealers providing quotations may be the Exchange Rate Agent unless the Exchange Rate Agent is an affiliate of the Issuer. If those bid quotations are not available, the Exchange Rate Agent shall determine the market exchange rate at its
sole discretion.

     The “Exchange Rate Agent” shall be Morgan Stanley & Co. Incorporated, unless otherwise indicated on the face hereof.

     All determinations referred to above made by, or on behalf of, the Issuer or by, or on behalf of, the Exchange Rate Agent shall be at such entity’s sole discretion and shall, in the absence of
manifest error, be conclusive for all purposes and binding on holders of Notes and coupons.

     So long as this Note shall be outstanding, the Issuer will cause to be maintained an office or agency for the payment of the principal of and premium, if any, and interest on this Note as herein
provided in the Borough of Manhattan, The City of New York, and an office or agency in said Borough of Manhattan for the registration, transfer and exchange as aforesaid of the Notes. The Issuer may designate other agencies for the payment of said
principal, premium and interest at such place or places (subject to applicable laws and regulations) as the Issuer may decide. So long as there shall be such an agency, the Issuer shall keep the Trustee advised of the names and locations of such
agencies, if any are so designated. If any European Union Directive on the taxation of savings comes into force, the Issuer will, to the extent possible as a matter of law, maintain a Paying Agent in a member state of the European Union that will
not be obligated to withhold or deduct tax pursuant to any such Directive or any law implementing or complying with, or introduced in order to conform to, such Directive.

     With respect to moneys paid by the Issuer and held by the Trustee or any Paying Agent for payment of the principal of or interest or premium, if any, on any Notes that remain unclaimed at the end of
two years after such principal, interest or premium shall have become due and payable (whether at maturity or upon call for redemption or otherwise), (i) the Trustee or such Paying Agent shall notify the holders of such Notes that such moneys shall
be repaid to the Issuer and any person claiming such moneys shall thereafter look only to the Issuer for payment thereof and (ii) such moneys shall be so repaid to the Issuer. Upon such repayment all liability

34

of the Trustee or such Paying Agent with respect to such moneys shall thereupon cease, without, however, limiting in any way any obligation that the Issuer may have to pay the principal of or interest or premium, if any, on this
Note as the same shall become due.

     No provision of this Note or of the Senior Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on
this Note at the time, place, and rate, and in the coin or currency, herein prescribed unless otherwise agreed between the Issuer and the registered holder of this Note.

     Prior to due presentment of this Note for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the holder in whose name this Note is registered as the
owner hereof for all purposes, whether or not this Note be overdue, and none of the Issuer, the Trustee or any such agent shall be affected by notice to the contrary.

     No recourse shall be had for the payment of the principal of, premium, if any, or the interest on this Note, for any claim based hereon, or otherwise in respect hereof, or based on or in respect of
the Senior Indenture or any indenture supplemental thereto, against any incorporator, shareholder, officer or director, as such, past, present or future, of the Issuer or of any successor corporation, either directly or through the Issuer or any
successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue
hereof, expressly waived and released.

     This Note shall for all purposes be governed by, and construed in accordance with, the laws of the State of New York.

     As used herein, the term “U.S. Alien” means any person who is, for U.S. federal income tax purposes, (i) a nonresident alien individual, (ii) a foreign corporation, (iii) a nonresident alien
fiduciary of a foreign estate or trust or (iv) a foreign partnership one or more of the members of which is, for U.S. federal income tax purposes, a nonresident alien individual, a foreign corporation or a nonresident alien fiduciary of a foreign
estate or trust.

     All terms used in this Note which are defined in the Senior Indenture and not otherwise defined herein shall have the meanings assigned to them in the Senior Indenture.

35

ABBREVIATIONS

      The
    following abbreviations, when used in the inscription on the face of this
    instrument, shall be construed as though they were written out in full according
    to applicable laws or regulations:

	 	TEN COM 	– 	as tenants
        in common 
	 	 	 	 
	 	TEN ENT 	– 	as tenants
        by the entireties 
	 	 	 	 
	 	JT TEN 	– 	as joint
        tenants with right of survivorship and not as tenants in common 
	 	 	 	 

	 	UNIF
        GIFT MIN ACT – 	 
	Custodian	 
	 
	 	 	(Minor)	 	(Cust)	 
	 	 	 	 	 	 

	 	Under
        Uniform Gifts to Minors Act	 
	 
				
	 	 	(State)	 
	 	 	 	 
	 	Additional
        abbreviations may also be used though not in the above list.

	 	 	 	 
	 	 	 
	 
				

36

     FOR VALUE RECEIVED,
    the undersigned hereby sell(s), assign(s) and transfer(s) unto

 ____________________________________________

  [PLEASE INSERT SOCIAL SECURITY OR OTHER

        IDENTIFYING
  NUMBER OF ASSIGNEE]

	 

	 
	 

	 
	 

	[PLEASE PRINT
          OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE]

the within Note and
    all rights thereunder, hereby irrevocably constituting and appointing such
    person attorney to transfer such note on the books of the Issuer, with full
    power of substitution in the premises.

 Dated: _______________________

 

	NOTICE:	 The signature
        to this assignment must correspond with the name as written upon the
        face of the within Note in every particular without alteration or enlargement
        or any change whatsoever.

37

OPTION TO ELECT
REPAYMENT

      The
    undersigned hereby irrevocably requests and instructs the Issuer to repay
    the within Note (or portion thereof specified below) pursuant to its terms
    at a price equal to the principal amount thereof, together with interest
    to the Optional Repayment Date, to the undersigned at

	 

	 
	 

	 
	 

	(Please print
        or typewrite name and address of the undersigned)

       If
  less than the entire principal amount of the within Note is to be repaid, specify
  the portion thereof which the holder elects to have repaid: _________________;
  and specify the denomination or denominations (which shall not be less than
  the minimum authorized denomination) of the Notes to be issued to the holder
  for the portion of the within Note not being repaid (in the absence of any
  such specification, one such Note will be issued for the portion not being
  repaid): __________________.

	 	 	 
	Dated:
        ________________________ 	 	_________________________________________
			NOTICE:
        The signature on this Option to Elect
			Repayment
        must correspond with the name as
			written
        upon the face of the within instrument in
			every
        particular without alteration or enlargement.

38Exhibit
      10.1

     

    EXECUTED
      COPY

     

    
      WIRELESS
        DATA AGREEMENT

      This
        Wireless
        Data Agreement
        (“Agreement”) is effective as of February 5, 2007 (“Effective Date”), between
Sprint/United
        Management Company,
        a
        Kansas corporation and wholly owned subsidiary of Sprint Nextel Corporation
        with
        offices at 6200 Sprint Parkway, Overland Park, KS 66251 (“Sprint”) and
UpSnap,
        Inc.,
        a
        Nevada corporation with offices at 134 Jackson St., Suite 203-204, Davidson,
        NC
        28036 (“Service Provider”). The
        parties desire to provide Service Provider Services as part of the Sprint
        Services. Sprint and Service Provider are parties to that certain Nextel
        Online
        Handset Placement Agreement (the “Original Agreement”) dated October 15, 2001;
        Amendment No. 1 dated February 11, 2002; Amendment No. 2 dated October 10,
        2003;
        Amendment No. 3 dated 2004 and Amendment No. 4 dated July 21, 2004
        (collectively, the “Agreement”). Effective as of the date of this Agreement, the
        Original Agreement and all subsequent Amendments to the Original Agreement
        are
        hereby terminated and replaced by this Agreement.

      

      1.      
        DEFINITIONS

       

      The
        following definitions apply to this Agreement. Depending on the Services
        provided by Service Provider, some definitions may not be utilized in the
        body
        of the Agreement:

      

      “Adjustment”
        means a
        refund or reduction to a charge for Premium Services made by Biller at a
        User’s
        request based on performance or other issues arising from the Premium Services.
        Only Biller is authorized to make Adjustments to Premium Services
        charges.

      

      “Billed
        Revenue”
        is
        defined as the charges, consistent with Section
        4.3,
        that
        Biller invoices to Users (excluding any applicable transaction taxes) for
        the
        use of Premium Services net of all Adjustments. 

      

      “Biller”
        means
        Sprint, or as applicable, its billing agent, the Sprint Affiliates or Sprint’s
        private label customers who may invoice Users for the use of Premium
        Services.

      

      “Confidential
        Information”
        means
        any information concerning a party’s trade secrets, products, planned products,
        services or planned services, suppliers, customers, prospective customers,
        data,
        financial information, computer software, processes, methods, knowledge,
        inventions, ideas, marketing, promotions, discoveries, current or planned
        activities, research, development, or other information relating to a party’s
        business activities or operations or those of its customers or suppliers.
        

      

      “Enhancement”
        means
        any
        change, modification, update or enhancement to the Service Provider
        Services.

      

      “Device”
        means
        the
        digital electronic equipment meeting the requirements of and authorized by
        Sprint for Users to access any of the various Sprint Services, that (i) is
        compliant with the CDMA 2000 standard as implemented by Sprint, or any successor
        standard as implemented by Sprint and (ii) may, but is not required to, include
        a Sprint Media Player.

      

      “Download”
        means
        a
        successful transmission of a Premium Service across the Sprint Wireless Network
        to a designated Device.

      

      “Marks”
        means
        a
        party’s trademarks, trade names, service marks and iconography.

      

      “Other
        Services” means
        services transmitted to Users via the Sprint Wireless Network and that charge
        Users a fee but that do not utilize Sprint's billing on behalf of
        functionality.

      

      “Premium
        Services” means
        certain Sprint-approved services provided by Service Provider to Users and
        for
        which Users are invoiced a fee by Biller on behalf of Service Provider,
        including (if applicable) Java Application, Games, Images, Ringers, and Service
        Provider Channel.

      

      “Proprietary
        Programs”
        means
        Sprint’s proprietary encryption or decryption modules, libraries or other
        scripts or programs of any kind.

      

      “Representative”
        means
        each party’s primary point of contact for purposes of supervising and managing
        performance of the respective party’s obligations under this
        Agreement.

      

      “Retail
        Price” means
        the
        price charged by Sprint for a User’s Download of an Image or Ringer, less any
        Adjustment.

      

      “Security
        Standards” means
        commercially reasonable security features in all material hardware and software
        systems and platforms that Service Provider uses to access Sprint’s Confidential
        Information.

      

      “Service
        Provider Data”
        means
        all information collected or developed by Service Provider regarding its
        customers who are Users or derived specifically from a User’s use of the Service
        Provider Services or otherwise provided directly to Service Provider by Users.
        

       

       

      
        	
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                  10.0 (07/05)

              	
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                  CONFIDENTIAL INFORMATION

              	
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          EXECUTED
            COPY

        

      

       

      “Service
        Provider Services”
        means
        the set of features, functionality, data, graphics, sounds, text and other
        information, material or other content in electronic form provided by Service
        Provider to Users via transmission by Sprint, including any Enhancements,
        Premium Services, and Other Services.

      

      “Sprint
        Affiliate”
        means:
        (a) any entity controlling, controlled by or under common control with Sprint,
        directly or indirectly by or through one or more intermediaries; (b)
any
        entity that has entered into an agreement to construct, manage and maintain
        the
        Sprint Wireless Network in a defined geographical territory and to
        sell
        wireless communications products or services in that territory under the
        “Sprint” brand name or any other brand name(s) subsequently primarily used by
        Sprint to market its wireless communications products or services; or (c)
        any
        entity to which Sprint is required by law or contract to provide wireless
        communications products or services involving the Service Provider Services.
        

      

      “Sprint
        Data”
        means
        all information collected or developed by Sprint regarding its customers
        who are
        Users under this Agreement or derived specifically from a User’s use of the
        Sprint Services or the Sprint Wireless Network, including, but not limited
        to,
        the Mobile Identification Number (MIN) or Mobile Destination Number (MDN)
        issued
        by
        Sprint to a User,
        the
        Electronic Serial Number (ESN) associated with a Device, the Network Access
        Identifier (NAI), any location-based information, network presence, NGG logs,
        transaction records, vending machine meta data that relates to data usage
        or
        premium services purchases, and any customer information described in the
        FCC
        definition of “Customer Proprietary Network Information” as set forth in 47 USC
        222(h)(1). 

      

      “Sprint
        Services”
        means
        the wireless data services provided by Sprint, on behalf of itself or the
        Sprint
        Affiliates or both, utilizing radio frequencies assigned by regulatory agencies.
        

      

      “Sprint
        Wireless Network” means
        any
        and all telecommunications systems built, owned or operated by Sprint or
        any of
        the Sprint Affiliates.

      

      “Uncollectible
        Revenue”
        is
        defined as total Billed Revenue that is uncollected and past due, and includes
        bad debts, fraudulent charges, short payments by Users, and other payment
        shortfalls and delinquencies. 

      

      “User”
        means
        any individual who uses any of the Sprint Services.

      

      “Vault”
        means
        a
        virtual location within Sprint’s server architecture where Sprint stores a
        User’s purchased content.

       

      2.      
        TERM

      

      2.1  
Term.
        The term
        of this Agreement begins on the Effective Date and ends after 1 year (the
        “Initial Term”). After the expiration of the Initial Term, this Agreement will
        be automatically extended on a month-to-month basis until terminated by either
        party with a sixty (60) days prior written notice (each monthly period a
        “Renewal Term”). The Initial Term and any Renewal Term are collectively referred
        to as the “Term”.

      

      2.2  
Termination
        for Breach. Either
        party may terminate this Agreement if the other party breaches any material
        term
        of this Agreement and the breach is not cured within twenty (20) days after
        written notice of the breach. Unless otherwise provided in the notice, or
        unless
        the breach has been cured, the termination is effective twenty (20) days
        after
        the date of the notice.

      

      2.3 
 Effect
        of Termination.
        Following any termination or expiration of this Agreement, the parties will
        cooperate to ensure that Users have the ability to continue to access, in
        accordance with the terms of this Agreement, previously purchased Service
        Provider Services for a period of time that is equal to the license period
        associated with such Service Provider Services. Sections
        5, 6.2, 7, 8, 9, 12
        and this
Section
        2.3 will
        survive the termination or expiration of this Agreement, in addition to any
        other provisions that by their content are intended to survive the expiration
        of
        this Agreement.

       

      3.   
 
        SERVICES

      

      3.1    Scope
        of Services.
        Service
        Provider shall enter into an agreement (the “Content Provider Agreement”) with a
        third-party content provider (“Content Provider”) upon terms and conditions to
        be mutually agreed upon by Service Provider and Content Provider, pursuant
        to
        which Content Provider shall provide to Service Provider a certain
        NASCAR-related audio service (the “NASCAR Audio Service”, which, for purposes of
        this Agreement, shall be considered Service Provider Services), which Service
        Provider shall make available to Users with Devices via transmission by Sprint
        across the Sprint Wireless Network. Service Provider may make Enhancements
        if:
        (a) the Enhancement complies with all requirements in this Agreement; and
        (b)
        the Service Provider Services continue to include the minimum applications
        described below. The Service Provider Services for Devices will be provided
        in
        formats as may be required by Sprint as specified in the Sprint Style Guide
        or
        as may be developed by Service Provider and approved by Sprint during the
        Term. The
        Service Provider Services will include, at a minimum, the following
        applications:

       

       

      
        	
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                  CONFIDENTIAL INFORMATION

              	
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          EXECUTED
            COPY

        

      

       

      ·  “NASCAR
        Audio Service”
        provides
        Users with access to NASCAR In-Car Audio.

      

      3.2  
Premium
        Services.
        Premium
        Services may not be available on all Devices. In addition, Premium Services
        will
        not be provided for any electronic commerce or other non-content applications
        or
        transactions (e.g., the purchase of a tangible product). To qualify to provide
        Premium Services, Service Provider must provide all of the information required
        on Exhibit
        A.
        Initial
        purchase of premium content is through Sprint’s vending machine, and requires
        that Sprint host the appropriate application. Service Provider will host
        any
        necessary content updates or refreshes as required in the normal operation
        of
        the Service Provider Services. Biller reserves the right, in its sole
        discretion, to not allow certain Users to receive Premium Services and to
        set
        limits on the amount of Premium Services Users can use.

      

      3.3 
 Placement.
        Sprint
        will place a link to the Service Provider Services within the Sprint Services
        during the Initial Term. Actual
        placement of this link will be in Sprint’s discretion. The link may be moved or
        repositioned at any time in Sprint’s discretion, and may be otherwise moved or
        removed by Users as part of any personalization functionality. Sprint has
        relationships with other providers (“Resale Partner”) for the resale of Sprint
        PCS services . Under those agreements, Resale Partner may be reselling wireless
        content to its customers. Service Provider acknowledges that the wireless
        content resold by Resale Partner may include Service Provider Services. In
        such
        instances Service Provider will: (1) allow Resale Partner’s customers to access
        Service Provider Services through Sprint PCS Network; and (2) allow Resale
        Partner to bill its customers for Service Provider Premium Services and use
        Service Provider’s name on its customer invoices.

      

      3.4  
Technical
        Requirements.
        Sprint
        will register Service Provider on Sprint’s content manager website at
http://developer.sprint.com
        for
        account registration purposes. Sprint will provide technical documentation
        to
        Service Provider with system requirements for the design, style and other
        aspects of the Service Provider Services, and Service Provider will adhere
        to
        the technical documentation, which may be updated or changed by Sprint during
        the Term. 

      

      3.5  
User
        Support.
        Sprint
        may establish terms with Users for use of the Sprint Services, which may
        include
        terms for the use of Premium Services. Sprint is responsible for all User
        support relating to the Sprint Services and the Sprint Wireless Network.
        Service
        Provider is responsible for all User support issues relating to Service Provider
        Services. Service
        Provider will appropriately refer all User questions and inquiries regarding
        Sprint or the Sprint Services to Sprint’s Customer Solutions unit. The
        parties will reasonably cooperate with each other to provide necessary User
        support services. Service Provider’s toll free phone number, email address,
        and/or Internet URL (that links directly to a help desk location) for User
        referrals is as follows: http://www.upsnap.com/support.jsp.

      

      3.6 
 User
        Complaints.
        Service
        Provider will cooperate with Sprint to resolve User complaints. Sprint reserves
        the right to suspend Service Provider’s ability to provide Premium Services if:
        (a) for any two out of three consecutive months, the number of complaints
        Sprint
        receives regarding charges for Premium Services exceeds 5% of all the complaints
        Sprint receives related to charges for all services with billing on behalf
        of
        functionality provided by Sprint; or (b) Sprint reasonably believes unauthorized
        charges for Premium Services are being presented to it by Service Provider.
        Sprint will allow Service Provider to resume providing Premium Services if
        Sprint determines that the problems underlying the complaints or unauthorized
        charges have been resolved. In addition, the parties will comply with any
        other
        existing or future regulatory obligations that apply to this Agreement or
        the
        relationship between the parties. 

      

      3.7  
Representatives.
        The
        parties designate the following Representatives: xxxxxxxxxxxxx for Service
        Provider. Each party may change its Representative by providing notice to
        the
        other party. All
        technical, marketing or other business issues will be communicated to the
        other
        party’s Representative, and each party’s Representative will be authorized to
        respond on its behalf with respect to those issues. The Representatives will
        hold conference calls on a mutually agreeable basis, and may contact each
        other
        on an as-needed basis.

      

      3.8 
 Content
        Standards.
        Materials
        that are included in the Service Provider Services will not: (a) facilitate
        or
        promote illegal activity, or contain content that is illegal; (b) contain
        content that is defamatory, obscene, distasteful, racially or ethnically
        offensive, harassing, or that is discriminatory based upon race, gender,
        color,
        creed, age, sexual orientation, or disability; (c) contain sexually suggestive
        or explicit content; (d) infringe upon or violate any right of any third
        party;
        or (e) disparage, defame, or discredit Sprint or any Sprint Affiliate, or
        contain content that is derogatory, detrimental, or reflects unfavorably
        on the
        name or business reputation of Sprint or any Sprint Affiliate. Subsections
        (a)
        through (e) above are collectively referred to as the “Content Standards.” If at
        any time Sprint determines that Service Provider has violated any of the
        Content
        Standards, Sprint may temporarily suspend the Service Provider Services.
        Sprint
        will notify Service Provider of the suspension in writing or via e-mail and
        Service Provider must cure the violation within 3 business days (the “Cure
        Period”) after this notification by removing the portion of the Service Provider
        Services that violates the Content Standards. If Service Provider reasonably
        disputes Sprint’s determination of a Content Standards violation, the parties
        will confer in good faith and attempt to resolve the dispute during the Cure
        Period, but in all cases Sprint will make the final determination. Sprint
        may
        continue the suspension of the Service Provider Services during the Cure
        Period.
        If Service Provider fails to cure the Content Standards violation within
        the
        Cure Period, Sprint may, without further notice, immediately terminate this
        Agreement.

       

       

      
        	
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      Service
        Provider will promptly notify Sprint if it: (a) receives a complaint from
        a User
        that involves any of the prohibitions in the Content Standards; or (b) otherwise
        becomes aware of an alleged Content Standards violation. Sprint also reserves
        the right to review materials before they are included as part of the Service
        Provider Services to determine if they violate the Content Standards. If
        during
        this review Sprint determines in its sole discretion that any materials violate
        any of the Content Standards, Sprint will notify Service Provider and Service
        Provider will remove the violating materials before the Service Provider
        Services will be transmitted to Users. Service Provider will not, and will
        not
        assist any third party to, make fraudulent charges for Service Provider
        Services, mislead Users concerning Service Provider Services, or misrepresent
        the nature of Service Provider Services to Users. Sprint reserves the right
        to
        suspend Service Provider Services if Sprint determines that any Service Provider
        Services are fraudulent, misleading to Users, or being misrepresented to
        Users.

      

      3.9  
Network
        Management and Operation.
        Sprint
        may temporarily suspend the Service Provider Services as Sprint deems necessary
        in the normal management and operation of the Sprint Wireless Network. If
        Sprint
        temporarily suspends under this Section
        3.9,
        it will
        insert a ‘card’ notifying Users that the Service Provider Services are
        temporarily unavailable.

      

      3.10 
Operating
        Changes.
        If
        Sprint allows Service Provider to participate in certain advanced services
        (e.g., instant messaging, location based services), Service Provider will
        work
        with Sprint to adhere to applicable and Sprint specified standards, requirements
        and any other technical specifications.  Service
        Provider will coordinate with Sprint for the installation of new versions,
        releases, and fixes to its operating system, system software and
        hardware.

       

      4.      
        PAYMENTS
        AND FEES

      

      See
        Exhibit B.

       

      5.     
        CONFIDENTIAL
        INFORMATION

       

      5.1  
General.
        Each
        party acknowledges that while performing its obligations under this Agreement
        it
        may have access to the other party’s Confidential Information. Each party agrees
        to: (a) keep the terms of this Agreement and the other party’s Confidential
        Information confidential and, except as authorized by the other party in
        writing, only use, and make copies of, the other party’s Confidential
        Information to perform the Services or its obligations as required under
        this
        Agreement; (b) only
        disclose the other party’s Confidential Information to its personnel, including
        its affiliates, subcontractors and agents, who have a legitimate business
        need
        to know the Confidential Information in order to perform the party’s obligations
        under this Agreement; and (c) inform its personnel who will have access to
        the
        other party’s Confidential Information of the obligations of confidentiality and
        require its personnel to comply with the terms of this Agreement. Upon
        request by the disclosing party, the receiving party will provide written
        certification to the disclosing party that it has returned or destroyed all
        Confidential Information, including any duplicate copies. 
        If
        reasonably requested by either party, the other party will have those personnel
        sign a non-disclosure agreement at least as restrictive as this Section
        5.
        

       

      
        5.2    Exceptions;
          Injunctive Relief. Confidential
          Information does not include information that the receiving party can
          demonstrate by written documentation: (a) is rightfully known to the receiving
          party prior to negotiations leading to this Agreement; (b) was independently
          developed by the receiving party without any reliance on Confidential
          Information; (c) is part of the public domain; or (d) is lawfully obtained
          by
          the receiving party from a third party not under an obligation of
          confidentiality. The receiving party may disclose Confidential Information
          to
          the extent required by law if it gives the disclosing party prior written
          notice
          of the required disclosure and makes a reasonable effort to obtain a protective
          order. Both parties acknowledge that disclosure of Confidential Information
          by
          the receiving party may cause irreparable injury to the disclosing party,
          its
          customers and other suppliers, that is inadequately compensable in monetary
          damages. In addition to any other remedies in law or equity, the disclosing
          party may seek injunctive relief for the breach or threatened breach of this
Section
          5.
          

      

       

       

      
        	
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        5.3    
            Information Security. 

         

      

      	a.  	
              To
                protect Sprint’s Confidential Information from unauthorized use, including
                disclosure, loss or alteration, Service Provider will (i) meet the
                Security Standards and (ii) inventory and test its compliance with
                the
                Security Standards before accepting Sprint’s Confidential
                Information.

            

       

      	b.  	
              Upon
                Sprint’s reasonable request, Service Provider will provide information to
                Sprint to enable Sprint to determine compliance with Section
                5.3(a).
                

            

       

      	c.  	
              Service
                Provider will promptly inform Sprint of any known or suspected compromises
                of Sprint’s Confidential Information as a result of Service Provider’s
                failure to comply with the Security Standards.

            

       

      	d.  	
              On
                a periodic basis, but in no event more than twice in any 12-month
                period,
                Sprint may, upon 10 days notice, perform a vulnerability assessment
                to
                determine Service Provider’s compliance with the Security Standards. In
                addition, if Sprint has a reasonable basis to believe that Supplier
                has
                breached or is likely to breach the Security Standards, Sprint may,
                upon 5
                days notice, perform a vulnerability assessment.
                

            

       

      	e.  	
              At
                Sprint’s reasonable request, Service Provider will promptly cooperate with
                Sprint to develop a plan to protect Sprint’s Confidential Information from
                failures or attacks on the Security Standards, which plan will include
                prioritization of recovery efforts, identification of and implementation
                plans for alternative data centers or other storage sites and backup
                capabilities.

            

       

      	f.  	
              If
                Service Provider fails to meet the obligations in this Section
                5.3,
                Sprint will notify Service Provider of this failure as provided in
                this
                Agreement. Service provider will have 30 days from receiving that
                notice
                to correct the cause for such failure. If Service Provider has failed
                to
                remedy its failure within this 30-day period, Sprint has the right
                to
                terminate this Agreement.

            

       

      5.4  
Proprietary
        Programs. If
        Sprint
        provides Service Provider with any Proprietary Programs, Service Provider
        agrees
        not to copy, distribute, modify, adapt, translate, de-compile, reverse engineer
        or otherwise create any derivative works from the Proprietary Programs. The
        Proprietary Programs may only be used by Service Provider to technically
        permit
        notification functionalities under this Agreement. Service Provider must
        hold
        the Proprietary Programs confidential under the terms of this Section
        5.

      

      5.5  
Publicity.
        Neither
        party will make any news release, public announcement, reference to this
        Agreement, its value, or its terms and conditions, or in any manner advertise
        or
        publish the fact of this Agreement without the written consent of the other
        party. Either party may, in its sole discretion, withhold its consent to
        any
        publicity.

       

      6.     
        GRANT
        OF LICENSES AND RIGHTS

      

      6.1  
General
        License
        Grant. Service
        Provider
        grants
        Sprint and Sprint Affiliates a non-exclusive, non-transferable (with no right
        to
        sub-license except as provided in this Agreement) license to reproduce, display,
        perform, host, copy, offer, store, distribute, transmit, use, sell and exercise
        any other rights reasonably necessary, to provide and download the Service
        Provider Services, in any current or future mark-up language or format, as
        necessary to enable Users to preview, access and utilize the Service Provider
        Services on the Device.

      

      The
        Sprint Wireless Network may modify the technical and visual format of the
        Service Provider Services as necessary to ensure that they can be displayed
        on a
        Device including, but not limited to, converting HDML or WML language to
        XHTML
        language and not delivering portions of the Service Provider Services that
        fail
        to reasonably render on any particular Device. Other than as set forth in
        the
        immediately preceding sentence, Sprint will not alter the material included
        in
        the Service Provider Services. Service Provider acknowledges that User’s have a
        perpetual, royalty-free license to continue to use and access Service Provider
        Services after they have been downloaded from Service Provider, unless the
        Service Provider Service was expressly sold as a limited duration application.
        Sprint may use the Service Provider Services or any transferred Service Provider
        Data to monitor Service Provider’s performance and compliance with the terms of
        this Agreement, for quality assurance purposes, and for Sprint’s internal
        marketing research purposes. 

      

      6.2  
Use
        of Marks.
        Each
        party grants to the other party a limited, non-exclusive, non-transferable
        license, with no right to sub-license, to use its Marks in the United States
        solely in connection with the services under this Agreement and in accordance
        with this Section
        6.2.
        Each
        party agrees that its use of the other party’s Marks: (i) will comply with the
        other party’s identity standards, which the other party will provide; (ii) must
        be presented to the other party and receive written approval prior to any
        use;
        and (iii) will inure to the benefit of the other party. The Marks are
        proprietary and nothing in this Agreement constitutes the grant of a general
        license for their use. Neither party acquires any right, title or interest
        in
        the other party’s Marks or the goodwill associated therewith. Each party agrees
        not to (i) attack the other party’s Marks, nor assist anyone in attacking them,
        and (ii) make any application to register the other party’s Marks, nor to use
        any confusingly similar trademark, service mark, trade name, iconography,
        or
        derivation thereof including, but not limited to, the registration of any
        domain
        name including any of the other party’s Marks, during the term of this Agreement
        and thereafter.

       

       

      
        	
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      6.3  
Marketing
        Materials. Sprint
        may wish to include Service Provider’s name, logos, or a description of Service
        Provider Services in certain marketing materials including collateral sent
        to
        Users, retail displays, or other advertising and promotional activities.
        These
        uses of Service Provider’s name, logos, or description will require Service
        Provider’s prior written approval. 

      

      6.4    Service
        Provider
        Marketing. Service Provider agrees to market the availability of the Service
        Provider Services, including in the following manner: wap.upsnap.com,
www.upsnap.com,
        text
        ads for free services utilizing upsnap’s short code 27627, text message
        campaigns to IDEN opt-in users. Any use of the Sprint Marks in any marketing
        by
        Service Provider requires Sprint’s prior written approval.

      

      7.    
        OWNERSHIP
        AND USE
        OF DATA

      

      7.1  
Service
        Provider Ownership. Each
        party acknowledges and agrees that Service Provider owns the Service Provider
        Marks, Service Provider Data, and Service Provider Services (excluding third
        party content and services in the Service Provider Services), and except
        for the
        licenses in this Agreement, nothing in this Agreement confers in Sprint any
        right of ownership in the foregoing. 

      

      7.2  
Sprint
        Ownership. Each
        party acknowledges and agrees that Sprint owns the Sprint Marks, Sprint Data,
        the Sprint Wireless Network, and the Sprint Services (excluding third party
        content and services in the Sprint Services), and except for the licenses
        in
        this Agreement, nothing in this Agreement confers in Service Provider any
        right
        of ownership in the foregoing. 

      

      7.3  
Rights
        and Limitations. All
        Sprint Data is Confidential Information and is the exclusive property of
        Sprint.
        Service Provider will not, except as otherwise stated in this Agreement,
        store,
        copy, analyze, monitor, or otherwise use any Sprint Data. All Service Provider
        Data is Confidential Information and is the exclusive property of Service
        Provider. Sprint will not, except as otherwise stated in this Agreement,
        store,
        copy, analyze, monitor, or otherwise use any Service Provider Data. Nothing
        in
        this Agreement prevents or limits: (a) Service Provider from using Service
        Provider Data to communicate directly with Users of Service Provider Services;
        or (b) Sprint or Sprint Affiliates from using Sprint Data to communicate
        directly with Users.

      

      7.4  
Solicitation;
        Disclosure.
        Service
        Provider will not transmit “spam” or distribute any other unsolicited
        information unless the User provides prior express consent via the Device
        and
        will not contact Users via other means, including, but not limited to
        telemarketing, unless User and Sprint consent. Service Provider will not
        use any
        information obtained from the activities contemplated under this Agreement
        to
        target advertisements or marketing to Users based on the User’s use of Sprint
        Services. Service Provider will not take any action, including data mining
        or
        any similarly disruptive practice, that interferes with the development,
        operation, maintenance or content of Sprint’s websites, servers or other related
        equipment. Neither party will disclose the other party’s information or data
        provided to it under this Agreement to any third party in a manner that
        identifies the User as an end user of a Service Provider product or service
        or
        of the Sprint Services, except as may be required by law or legal
        process.

       

      8.      
        WARRANTIES
        AND DISCLAIMERS

       

      8.1   Warranties.
        Service
        Provider represents and warrants that all hardware, software and networks
        used
        by Service Provider to fulfill its obligations under this Agreement will:
        (a) to
        the extent its hardware, software or networks depend on a date processing
        function, perform and process date arithmetic and date/time data in a consistent
        and accurate manner and in a manner that is unambiguous as to century; and
        (b)
        to the extent its hardware, software or networks are used in combination
        with
        other software, hardware or networks, they will properly interoperate with
        the
        other software, hardware or networks, including the exchange of date/time
        data.
        If Service Provider’s hardware, software, or network is not compliant with this
        warranty, Service Provider will, at its expense, promptly correct or modify
        the
        hardware, software, or network so that it is compliant. Service Provider
        also
        represents and warrants that: (a) it will not introduce into Sprint’s hardware,
        software, or network any software virus, worm, “back door,” “Trojan Horse,” or
        similar harmful code; (b) the Service Provider Services do not infringe any
        intellectual property right or violate any trade secret right or other right
        of
        any third party; and (c) it will comply with all applicable laws and
        regulations.

      

      8.2  
Disclaimers.
        Except as expressly set forth in this Agreement, each party’s services,
        information, content and other materials are provided on an “as is,” “as
        available” basis. Except for the express warranties made in this Agreement: (a)
        neither party makes any warranty that its service will be uninterrupted,
        secure,
        or error free, or that defects in either party’s service will be corrected; and
        (b) each party specifically disclaims any representations or warranties,
        express
        or implied, regarding any materials provided under this Agreement, including
        any
        implied warranty of merchantability, fitness for a particular purpose,
        non-infringement or any implied warranties arising from course of dealing
        or
        performance. The parties acknowledge that use of any data or information
        obtained by Users through either party’s service is at Users’ own discretion and
        risk, and that Users will be solely responsible for any damage resulting
        from
        use of that service. Each party agrees to include a disclaimer in substantially
        similar form to the previous sentence in their respective User’s agreements or
        terms and conditions of use for their respective services. 

       

       

      
        	
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      9.    
        INDEMNIFICATION
        AND LIMITATION OF LIABILITY

      

      9.1  
Indemnification
        by Sprint. Sprint
        will indemnify and defend Service Provider, Service Provider
        affiliates, and their respective directors, officers, agents, and employees
        (each, a “Service
        Provider
        Indemnitee”) from and against all claims, damages, losses, liabilities, costs,
        expenses, and reasonable attorney’s fees (collectively “Damages”) arising
        out of a claim by a third party against a Service Provider Indemnitee:
        (a) to
        the
        extent resulting from or alleged to have resulted from any act or omission
        of
        Sprint under or related to this Agreement;
        or (b)
        alleging that the Sprint Marks infringe any intellectual property right or
        violate any trade secret right or other right of any third party. 

      

      9.2  
Indemnification
        by Service Provider.
        Service
        Provider will indemnify and defend Sprint, Sprint
        Affiliates, and their respective directors, officers, agents, employees and
        customers (each, a “Sprint Indemnitee”) from and against all Damages
arising
        out of a claim by a third party against a Sprint Indemnitee: (a) to
        the
        extent resulting from or alleged to have resulted from any act or omission
        of
        Service Provider under or related to this Agreement;
        or (b)
        alleging that the Service Provider Marks or the Service Provider Services
        infringe any intellectual property right or violate any trade secret right
        or
        other right of any third party. 

      

      9.3  
Indemnification
        Procedures.
        Upon
        becoming aware of any matter that is subject to the provisions of this Section
        9. (a “Claim”), the party seeking indemnification (the “Indemnified Party”) must
        promptly give notice of the Claim to the other party (the “Indemnifying Party”),
        accompanied by a copy of any written documentation regarding the Claim received
        by the Indemnified Party. The Indemnifying Party will have the right, at
        its
        option, to settle or defend, at its own expense and with its own counsel,
        the
        Claim. The Indemnified Party will have the right, at its option, to participate
        in the settlement or defense of the Claim, with its own counsel and at its
        own
        expense, but the Indemnifying Party will have the right to control the
        settlement or defense. The Indemnifying Party will not enter into any settlement
        that imposes any liability or obligation on the Indemnified Party, or contains
        any acknowledgement of wrongdoing by the Indemnified Party, without the
        Indemnified Party’s prior written consent. The parties will cooperate in the
        settlement or defense and give each other access to all relevant
        information. If
        an
        Indemnified Party’s ability to provide a service is enjoined due to a claim
        covered by the indemnity obligations in this Section 9, the Indemnifying
        Party
        will, at its option and expense, and in addition to any other remedies that
        the
        Indemnified Party may have, either: (a) procure for the Indemnified Party
        and
        the Users the continued right to use the service; (b) replace the infringing
        material with non-infringing material that will not adversely affect the
        operation or quality of the service; (c) modify the infringing material so
        that
        it is non-infringing and will not adversely affect the operation or quality
        of
        the service; or (d) only if none of the above options are possible after
        commercially reasonable attempts by the Indemnifying Party to complete them,
        either party may terminate this Agreement.

      

      9.4 
 Limitation
        of Liability. Except for a party’s breach of the provisions of Section 5, for
        claims for which a party has an obligation of indemnity under this Agreement
        and
        for a party’s grossly negligent, willful or fraudulent acts or omissions,
        neither party will be liable to the other for any consequential, punitive
        or
        indirect damages for any cause of action, whether in contract, tort or
        otherwise. Consequential, and indirect damages include, but are not limited
        to,
        lost profits, lost revenue, and loss of business opportunity, whether or
        not the
        applicable party was aware of or should have been aware of the possibility
        of
        these damages.

       

      10.  
         SECURITY

      

      Each
        party will maintain the security and integrity of its service, including
        implementing procedures to prevent third parties from transmitting unsolicited
        data or messages to Users. Service Provider will notify Sprint as soon as
        possible if it knows or has reason to know that any unsolicited data or messages
        are being sent to Users of the Service Provider Services, or if an unusual
        or
        abnormal flow, number, or type of message is being sent to Users. If a User
        is
        being sent unsolicited data or messages, or Service Provider notifies Sprint
        that Users may be being sent unsolicited data or messages, each party will
        use
        commercially reasonable efforts to promptly prevent continuing transmission
        of
        unsolicited data or messages to Users. As necessary, Sprint will provide
        a
        connection to its gateway via a 128-bit secure socket level connection. As
        necessary, Service Provider will provide a secure connection to the Internet
        to
        allow access to Service Provider Services by Sprint and Users.

       

      11.     TESTING
        AND SERVICE RELIABILITY

      

      11.1 
Acceptance
        Testing. Prior
        to
        launch of the Service Provider Services or any material Enhancements to Users
        (for purposes of this Section 11, each a “Deliverable”), both parties will test
        the Deliverable for compliance with Sprint’s launch checklist. If a dispute
        arises regarding testing criteria, Sprint will make the final determination.
        Acceptance of any Deliverable will occur upon the earlier of either: (a)
        Service
        Provider’s receipt of a notice from Sprint stating that the Deliverable has met
        the testing criteria; or (b) 60 days, or other mutually agreeable time period,
        after the date of delivery, unless notice of non-acceptance (including specific
        reasons for non-acceptance) is provided to Service Provider within the 60-day
        period. Service Provider will use commercially reasonable efforts to correct
        any
        non-conformance in a timely manner. The parties will provide each other with
        commercially reasonable assistance as necessary to correct any non-conformance,
        including information necessary to recreate the error or non-conformity
        identified. The parties will work together in good faith to complete acceptance
        testing according to any applicable development schedule. Upon

       

       

      
        	
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      successful
        completion of acceptance testing the parties will notify each other of final
        acceptance.

      

      11.2 
Service
        Reliability.
        The
        parties will make commercially reasonable efforts to ensure that their
        respective services under this Agreement are free from material defects and
        are
        available to Users 24 hours a day, 7 days a week. Service Provider will maintain
        the Service Provider Services according to the restoral expectations set
        forth
        in the table below. For unplanned events, Sprint will assign a trouble severity
        code based on Sprint’s assessment of trouble at the point of trouble
        identification. Sprint will make adjustments to the trouble severity code
        based
        on event activities. Sprint Technical Services and Service Provider will
        conduct
        Operational Reviews as needed. The parties will periodically review the trouble
        severity table and may modify it by mutual written agreement.

       

      
        
          	
                  Trouble
                    Severity Code

                	
                  Description

                	
                  Restoral
                    Expectations

                
	
                  Sev
                    1

                	
                  “Sev
                    1 Error” means
                    a catastrophic error in an application which causes a complete
                    (100%) loss
                    of service for any subset of Users, for which a workaround has
                    not been
                    made available and which causes: (a) an important component of
                    the Service
                    Provider Services to be unusable or a system or product malfunction
                    due to
                    deficiency or non-usability (i.e. a frequent or major User impact
                    or a
                    frequent failure of an important service); or (b) data loss or
                    corruption.
                    Example: 10/8 outage -- Users receiving “bad http status” errors when
                    attempting to connect to Service Provider’s site.

                	
                  1.5
                    hours

                
	
                  Sev
                    2

                	
                  “Sev
                    2 Error”
                    means a non-catastrophic error in an application that causes
                    greater than
                    50% degradation of performance and that: (a) constitutes a major
                    failure
                    for an important product feature which causes significant inconvenience
                    to
                    Users, system or product malfunction due to deficiency or non-usability;
                    or (b) produces results materially different from those described
                    in the
                    documentation for a major product feature, but which such error
                    does not
                    rise to the level of a Sev 1 Error. Example: Users receiving
“compile
                    error” message when attempting to read a news item.

                	
                  4.0
                    hours

                
	
                  Sev
                    3

                	
                  “Sev
                    3 Error”
                    means a non-catastrophic error in an application that: (a) has
                    an impact
                    on operational support or administrative tools / availability
                    to service
                    or provision node but not considered to impact call processing;
                    and (b)
                    causes less than 50% degradation of performance

                	
                  8.0
                    hours

                
	
                  Sev
                    4

                	
                  “Sev
                    4 Error” means
                    an error in an application that: (a) has minimal current impact
                    on the
                    User; and (b) causes a malfunction of a non-essential product
                    feature.

                	
                  TBD
                    (Joint Agreement)

                

        

      

      

      11.3 
Points
        of Contact and Escalations.
        If
        Sprint experiences technical problems receiving or transmitting the Service
        Provider Services, Sprint may contact Service Provider’s technical service
        group. Escalations will occur if applicable restoral expectations are not
        met.
        Service Provider will provide for 24x7x365 support availability. For Sev
        1
        Errors, Service Provider will provide continual support until the event is
        resolved. Service Provider and Sprint’s Text Messaging Operations department
        will exchange ticket numbers for tracking an event beginning with the initial
        report of trouble. Service Provider will interface with any third party hardware
        and software vendors selected by it and included as part of the Service Provider
        Services. During unplanned events, Service Provider will interact with these
        third party vendors for service restoral activities; Sprint will only be
        required to interact with Service Provider. Sprint and Service Provider
        escalation contacts and numbers are as follows:

       

      Service
        Provider Contact Information (Accessible 24 hours a day / 7 days a
        week) 

      
        
          	 	
                  Contact
                    Name & Title

                	
                  Phone

                	
                  Mobile
                    or Pager

                	
                  Email

                
	
                  1st 

                  Point
                    of Contact

                	
                  On
                    Call Support

                	
                  xxxxxxxx

                	
                  xxxxxxxx

                	
                  support@upsnap.com

                
	
                  1st

                  Escalation

                	
                  xxxxxxxxxx

                	
                  xxxxxxxxxx

                	
                  xxxxxxxxx

                	
                  xxxxxxx

                
	
                  2nd 

                  Escalation

                	
                  xxxxxxxxx

                	
                  xxxxxxxx

                	
                  xxxxxxxx

                	
                  xxxxxxxxx

                

        

      

      

      Sprint
        Contact Information (Accessible
        24 hours a day / 7 days a week)

      For
        browsable content: 

      
        
          	 	
                  Contact
                    Name & Title

                	
                  Phone

                	
                  Mobile
                    or Pager

                	
                  Email

                
	
                  1st 

                  Point
                    of Contact

                	
                  xxxxxxxxx.

                	
                  xxxxxx

                	
                  N/A

                	
                  N/A

                
	
                  1st
                    Escalation

                	
                  xxxxxxxxx

                	
                  xxxxxxxx

                	
                  xxxxxxxxxxx

                	
                  xxxxxxxxx

                
	
                  2nd
                    Escalation

                	
                  xxxxxxxxx

                	
                  xxxxxxx

                	
                  xxxxxxxxxx

                	
                  xxxxxxxxxxx

                

        

      

       

       

      
        	
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            COPY

        

      

       

      For
        downloadable content (i.e. Premium Services):

      
        
          	 	
                  Contact
                    Name & Title

                	
                  Phone

                	
                  Mobile
                    or Pager

                	
                  Email

                
	
                  1st 

                  Point
                    of Contact

                	
                  xxxxxxxxxxx

                	
                  xxxxxxxxx

                	
                  xxxxxx

                	
                  xxxxxxxxx

                
	
                  1st
                    Escalation

                	
                  xxxxxxxxxxxxx

                	
                  xxxxxxxx

                	
                  xxxxxx

                	
                  xxxxxxx

                
	
                  2nd
                    Escalation

                	
                  xxxxxxxx

                	
                  xxxxxxxxx

                	
                  xxxxxxxx

                	
                  xxxxxxxxxxxx

                

        

      

       

      12.
          
DISPUTE
        RESOLUTION

       

      12.1 
Waiver
        of Jury Trial.
        Each party waives its right to a jury trial in any court action arising between
        the parties, whether under this Agreement or otherwise related to this
        Agreement, and whether made by claim, counterclaim, third party claim or
        otherwise. The agreement of each party to waive its right to a jury trial
        will
        be binding on its successors and assigns.

      

      12.2 
Governing
        Law. This Agreement and the rights and obligations of the parties are governed
        by the substantive and procedural laws of the state of Kansas, without regard
        to
        any conflict of laws principles. This Agreement will not be governed or
        interpreted in any way by referring to any law based on the Uniform Computer
        Information Transactions Act (UCITA), even if that law is adopted in Kansas.
        The
        parties expressly acknowledge that the United Nations Convention on Contracts
        for the International Sale of Goods (UNCISG) does not apply to this
        Agreement.

      

      12.3 
Forum
        Selection; Attorney’s Fees.
        Except to the extent necessary for Sprint to enforce indemnity or defense
        obligations under this Agreement, any
        court proceeding brought by either party must be brought, as appropriate,
        in
        Kansas District Court located in Johnson County, Kansas, or in the United
        States
        District Court for the District of Kansas in Kansas City, Kansas. Each party
        agrees to personal jurisdiction in either court. The prevailing party in
        any
        formal dispute will be entitled to reasonable attorney’s fees and costs
        (including reasonable expert fees and costs), unless the prevailing party
        rejected a written settlement offer that exceeds the prevailing party’s
        recovery. The parties agree to continue performance during the pendency of
        any
        dispute, unless this Agreement is terminated under Section
        2.3.

       

      13.     
        GENERAL

      

      13.1 
Notices.
        Unless
        otherwise agreed, notices provided under this Agreement must be in writing
        and
        delivered by certified mail (return receipt requested), hand delivery, or
        by a
        reputable overnight carrier service. In addition to providing notices to
        the
        Representatives listed in Section 2.6, notices to Sprint must be sent to
        the
        following addresses: (a) Sprint
        , Attn:
        Vice President, Business Development and Product Innovation, Mailstop
KSOPHI0414-4A175,
        6160
        Sprint Parkway,
        Overland
        Park, Kansas
        66251;
        and (b)
        Sprint Law Department, Attn: VP Marketing and Sales, Mailstop KSOPHN0304,
        6450
        Sprint Parkway,
        Overland
        Park, Kansas
        66251. Notices
        to Service Provider must be sent to Service Provider’s address shown in the
        signature block of this Agreement. Notices
        will be considered given on the day the notice is received. 

      

      13.2 
Assignment.
        Sprint
        may assign any
        of
        its rights or obligations or this
        Agreement to any Sprint Affiliate without the consent of Service Provider.
        Otherwise,
        neither party may assign any of its rights or obligations or this Agreement
        without the prior written consent of the other party, which consent will
        not be
        unreasonably withheld or delayed. 

      

      13.3 
Waiver;
        Severability; Remedies.
        The
        waiver of a breach of any term of this Agreement will not constitute the
        waiver
        of any other breach of the same or any other term. To be enforceable, a waiver
        must be in writing signed by an authorized representative of the waiving
        party.
        If any provision of this Agreement is held to be unenforceable, the remaining
        provisions will remain in effect and the parties will negotiate in good faith
        a
        substantively comparable enforceable provision to replace the unenforceable
        provision. All rights and remedies of the parties, in law or equity, are
        cumulative and may be exercised concurrently or separately. The exercise
        of one
        remedy will not be an election of that remedy to the exclusion of other
        remedies.

      

      13.4   Independent
        Contractor; Non-Exclusive Relationship.
        Service
        Provider and its personnel are independent contractors for all purposes and
        at
        all times. This Agreement does not create an exclusive relationship between
        the
        parties except to the extent specifically provided for in this Agreement.
        Nothing in this Agreement will be
        deemed
        to be a restriction on either party’s ability to freely compete or to enter into
“partnering” relationships with other entities. 

       

       

      
        	
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            COPY

        

      

       

      13.5   
        Miscellaneous.
        This
        Agreement’s benefits do not extend to any third party, including Sprint
        customers or Users, unless expressly stated in this Agreement. The headings
        in
        this Agreement are for convenience only and will not affect the meaning or
        interpretation of this Agreement. Because the parties actively negotiated
        this
        Agreement, it will not be construed against either party due to authorship.
        This
        Agreement, together with any exhibits, sets forth the entire understanding
        of
        the parties as to the subject matter of this Agreement and supersedes all
        prior
        agreements, discussions, and correspondence pertaining to the subject matter
        of
        this Agreement. Any provision contained on a party’s web site, preprinted on any
        order, invoice, statement, or other document issued by either party, or
        contained in any “shrinkwrap” or “clickwrap” agreement will have no force or
        effect if that provision conflicts with the terms of this Agreement. This
        Agreement may not be amended or modified except in writing signed by an
        authorized representative of each party. If there is an inconsistency between
        the terms of this Agreement and those of any other oral or written agreement
        between the parties, the terms of this Agreement will control.

      

      SIGNED:

      
        
          
            
              
                	
                        Sprint

                      	
                        Service
                          Provider

                      
	
                        Signature:/s/

                      	
                        Signature:/s/

                      
	
                        Print
                          Name:

                      	
                        Print
                          Name:

                      
	
                        Title:

                      	
                        Title:

                      
	
                        Date:

                      	
                        Date:

                      
	 	
                        Address:

                      

              
 

          

        

      

       

       

      
        	
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          EXECUTED
            COPY

        

      

      Exhibit
        Omitted

      

      {

       

       

       

       

      
        	
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                  11 of
                  11

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