Document:

Exhibit 4.1

 

INDENTURE

between

Akoustis Technologies, Inc.

and

The Bank of New York Mellon Trust Company, N.A.

TRUSTEE

 

Dated as of October 23, 2018

 

Providing
for Issuance of

Debt Securities in Series

 

 

 

     

     

    

 

Reconciliation and tie between Indenture,
dated as of October 23, 2018, and the Trust Indenture Act of 1939, as amended.

 

	Trust Indenture Act of 1939 Section	 	Indenture Section
	310(a)(1)	 	6.11
	(a)(2)	 	6.11
	(a)(3)	 	TIA
	(a)(4)	 	Not Applicable
	(a)(5)	 	TIA
	(b)	 	6.9; 6.11; TIA
	 	 	 
	311(a)	 	TIA
	(b)	 	TIA
	 	 	 
	312(a)	 	6.7
	(b)	 	TIA
	(c)	 	TIA
	 	 	 
	313(a)	 	6.6; TIA
	(b)	 	TIA
	(c)	 	6.6; TIA
	(d)	 	6.6
	 	 	 
	314(a)	 	9.6; TIA
	(b)	 	Not Applicable
	(c)(1)	 	1.2
	(c)(2)	 	1.2
	(c)(3)	 	Not Applicable
	(d)	 	Not Applicable
	(e)	 	1.2
	(f)	 	TIA
	 	 	 
	315(a)	 	TIA
	(b)	 	6.5
	(c)	 	6.1
	(d)(1)	 	TIA
	(d)(2)	 	TIA
	(d)(3)	 	TIA
	(e)	 	TIA
	 	 	 
	316(a)(1)(A)	 	5.8
	(a)(1)(B)	 	5.7
	(b)	 	5.2; 5.3; 5.10
	(c)	 	TIA
	 	 	 
	317(a)(1)	 	5.3
	(a)(2)	 	5.4
	(b)	 	9.3
	 	 	 
	318(a)	 	1.11
	(b)	 	TIA
	(c)	 	1.11; TIA
	 	 	 

 

Note: This Cross-Reference Table shall not, for any purpose,
be deemed to be part of the Indenture.

 

     

     

    

 

Table of
Contents

 

Page

 

	Article I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	1
	 	 	 	 
	 	Section 1.1. 	DEFINITIONS	1
	 	Section 1.2. 	COMPLIANCE CERTIFICATES AND OPINIONS	8
	 	Section 1.3. 	FORM OF DOCUMENTS DELIVERED TO TRUSTEE	8
	 	Section 1.4. 	ACTS OF HOLDERS	9
	 	Section 1.5. 	NOTICES, ETC., TO TRUSTEE AND COMPANY	11
	 	Section 1.6. 	NOTICE TO HOLDERS; WAIVER	11
	 	Section 1.7. 	HEADINGS AND TABLE OF CONTENTS	12
	 	Section 1.8. 	SUCCESSOR AND ASSIGNS	12
	 	Section 1.9. 	SEPARABILITY	12
	 	Section 1.10. 	BENEFITS OF INDENTURE	12
	 	Section 1.11. 	GOVERNING LAW	12
	 	Section 1.12. 	WAIVER OF JURY TRIAL	13
	 	Section 1.13. 	LEGAL HOLIDAYS	13
	 	Section 1.14. 	NO RECOURSE AGAINST OTHERS	13
	 	 	 	 
	Article II SECURITY FORMS	14
	 	 
	 	Section 2.1. 	FORMS GENERALLY	14
	 	Section 2.2. 	FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION	14
	 	Section 2.3. 	SECURITIES IN GLOBAL FORM	14
	 	Section 2.4. 	FORM OF LEGEND FOR SECURITIES IN GLOBAL FORM	15
	 	 	 	 
	Article III THE SECURITIES	15
	 	 
	 	Section 3.1. 	AMOUNT UNLIMITED; ISSUABLE IN SERIES	15
	 	Section 3.2. 	DENOMINATIONS	19
	 	Section 3.3. 	EXECUTION, AUTHENTICATION, DELIVERY AND DATING	19
	 	Section 3.4. 	TEMPORARY SECURITIES	21
	 	Section 3.5. 	REGISTRATION, TRANSFER AND EXCHANGE	22
	 	Section 3.6. 	REPLACEMENT SECURITIES	24
	 	Section 3.7. 	PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED	25
	 	Section 3.8. 	PERSONS DEEMED OWNERS	26
	 	Section 3.9. 	CANCELLATION	27
	 	Section 3.10. 	COMPUTATION OF INTEREST	27
	 	Section 3.11. 	CURRENCY AND MANNER OF PAYMENT IN RESPECT OF SECURITIES	27
	 	Section 3.12. 	APPOINTMENT AND RESIGNATION OF EXCHANGE RATE AGENT	32
	 	Section 3.13. 	WIRE TRANSFERS	32
	 	Section 3.14. 	CUSIP NUMBERS AND ISINS	32

 

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	Article IV SATISFACTION, DISCHARGE AND DEFEASANCE	33
	 	 
	 	Section 4.1. 	TERMINATION OF COMPANY’S OBLIGATIONS UNDER THE INDENTURE	33
	 	Section 4.2. 	APPLICATION OF TRUST FUNDS	34
	 	Section 4.3. 	APPLICABILITY OF DEFEASANCE PROVISIONS; COMPANY’S OPTION TO EFFECT DEFEASANCE OR COVENANT DEFEASANCE	34
	 	Section 4.4. 	DEFEASANCE AND DISCHARGE	34
	 	Section 4.5. 	COVENANT DEFEASANCE	35
	 	Section 4.6. 	CONDITIONS TO DEFEASANCE OR COVENANT DEFEASANCE	35
	 	Section 4.7. 	DEPOSITED MONEY AND GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST	37
	 	Section 4.8. 	REPAYMENT TO COMPANY	37
	 	Section 4.9. 	INDEMNITY FOR GOVERNMENT OBLIGATIONS	37
	 	 	 	 
	Article V DEFAULTS AND REMEDIES	38
	 	 
	 	Section 5.1. 	EVENTS OF DEFAULT	38
	 	Section 5.2. 	ACCELERATION; RESCISSION AND ANNULMENT	38
	 	Section 5.3. 	COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE	39
	 	Section 5.4. 	TRUSTEE MAY FILE PROOFS OF CLAIM	39
	 	Section 5.5. 	TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF SECURITIES	40
	 	Section 5.6.	 DELAY OR OMISSION NOT WAIVER	40
	 	Section 5.7. 	WAIVER OF PAST DEFAULTS	40
	 	Section 5.8.	 CONTROL BY MAJORITY	40
	 	Section 5.9. 	LIMITATION ON SUITS BY HOLDERS	40
	 	Section 5.10. 	RIGHTS OF HOLDERS TO RECEIVE PAYMENT	41
	 	Section 5.11. 	APPLICATION OF MONEY COLLECTED	41
	 	Section 5.12. 	RESTORATION OF RIGHTS AND REMEDIES	42
	 	Section 5.13. 	RIGHTS AND REMEDIES CUMULATIVE	43
	 	 	 	 
	Article VI THE TRUSTEE	43
	 	 
	 	Section 6.1. 	DUTIES AND RESPONSIBILITIES OF TRUSTEE; RELIANCE ON DOCUMENTS, OPINIONS, ETC	43
	 	Section 6.2. 	TRUSTEE, PAYING AGENTS, CONVERSION AGENTS OR REGISTRAR MAY HOLD SECURITIES	46
	 	Section 6.3. 	MONIES TO BE HELD IN TRUST	46
	 	Section 6.4. 	NO RESPONSIBILITIES FOR RECITALS, ETC	47
	 	Section 6.5. 	NOTICE OF DEFAULTS	47
	 	Section 6.6. 	REPORTS BY TRUSTEE TO HOLDERS	47
	 	Section 6.7. 	SECURITY HOLDER LISTS	48
	 	Section 6.8. 	COMPENSATION AND INDEMNITY	48
	 	Section 6.9. 	SEPARATE TRUSTEE; REPLACEMENT OF TRUSTEE	49

 

    ii 

     

    

 

	 	Section 6.10. 	ACCEPTANCE OF APPOINTMENT BY SUCCESSOR	50
	 	Section 6.11. 	ELIGIBILITY; DISQUALIFICATION	51
	 	Section 6.12. 	MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS	51
	 	Section 6.13. 	APPOINTMENT OF AUTHENTICATING AGENT	52
	 	 	 	 
	Article VII CONSOLIDATION, MERGER OR SALE BY THE COMPANY	53
	 	 
	 	Section 7.1. 	CONSOLIDATION, MERGER OR SALE OF ASSETS	53
	 	 	 	 
	Article VIII SUPPLEMENTAL INDENTURES	54
	 	 
	 	Section 8.1. 	SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS	54
	 	Section 8.2. 	WITH CONSENT OF HOLDERS	55
	 	Section 8.3. 	COMPLIANCE WITH TRUST INDENTURE ACT	56
	 	Section 8.4. 	EXECUTION OF SUPPLEMENTAL INDENTURES	56
	 	Section 8.5. 	EFFECT OF SUPPLEMENTAL INDENTURES	56
	 	Section 8.6. 	REFERENCE IN SECURITIES TO SUPPLEMENTAL INDENTURES	57
	 	 	 	 
	Article IX COVENANTS	 	57
	 	 	 
	 	Section 9.1. 	PAYMENT OF PRINCIPAL, PREMIUM, IF ANY, AND INTEREST	57
	 	Section 9.2. 	MAINTENANCE OF OFFICE OR AGENCY	57
	 	Section 9.3. 	MONEY FOR SECURITIES TO BE HELD IN TRUST; UNCLAIMED MONEY	58
	 	Section 9.4. 	CORPORATE EXISTENCE	59
	 	Section 9.5. 	REPORTS BY THE COMPANY	59
	 	Section 9.6. 	ANNUAL REVIEW CERTIFICATE	59
	 	 	 	 
	Article X REDEMPTION	60
	 	 
	 	Section 10.1. 	APPLICABILITY OF ARTICLE	60
	 	Section 10.2. 	ELECTION TO REDEEM; NOTICE TO TRUSTEE	60
	 	Section 10.3. 	SELECTION OF SECURITIES TO BE REDEEMED	60
	 	Section 10.4. 	NOTICE OF REDEMPTION	61
	 	Section 10.5. 	DEPOSIT OF REDEMPTION PRICE	62
	 	Section 10.6. 	SECURITIES PAYABLE ON REDEMPTION DATE	62
	 	Section 10.7. 	SECURITIES REDEEMED IN PART	62
	 	 	 	 
	Article XI SINKING FUNDS	63
	 	 
	 	Section 11.1. 	APPLICABILITY OF ARTICLE	63
	 	Section 11.2. 	SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES	63
	 	Section 11.3. 	REDEMPTION OF SECURITIES FOR SINKING FUND	63

 

    iii 

     

    

 

INDENTURE,
dated as of October 23, 2018, between Akoustis Technologies, Inc., a corporation duly organized and existing under the laws of
the State of Delaware (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as trustee, a national
banking association organized and existing under the laws of the United States of America, as trustee (the “Trustee”).

 

RECITALS

 

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

 

For
and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and
agreed as follows for the equal and ratable benefit of the Holders of the Securities or of any series thereof:

 

Article
I

DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION

 

Section
1.1. DEFINITIONS. (a) For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise
requires:

 

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

 

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

 

(3)       all
accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting
principles; and

 

(4)       the
words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture
as a whole and not to any particular Article, Section or other subdivision.

 

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

 

“Agent”
means any Paying Agent or Registrar.

 

“Authenticating
Agent” means any authenticating agent appointed by the Trustee pursuant to Section 6.13.

 

     

     

    

 

“Board”
or “Board of Directors” means the Board of Directors of the Company or any duly authorized committee thereof to act
on behalf of the Board.

 

“Board
Resolution” means a copy of one or more resolutions of the Board of Directors, certified by the Corporate Secretary or an
Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the
date of the certificate.

 

“Business
Day”, when used with respect to any Place of Payment or any other particular location referred to in this Indenture or in
the Securities, means, unless otherwise specified with respect to any Securities pursuant to Section 3.1, each Monday, Tuesday,
Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment or particular location
are authorized or required by law to be closed, except as may otherwise be provided in the form of Security of any particular
series pursuant to the provisions of this Indenture.

 

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

 

“Common
Stock” means the shares of common stock, $0.001 par value per share, of the Company.

 

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

 

“Company
Order” and “Company Request” mean, respectively, a written order or request signed in the name of the Company
by the President, the Chief Executive Officer, the Chief Financial Officer, any Vice President, the Treasurer or the Corporate
Secretary of the Company.

 

“Corporate
Trust Office” means the corporate trust office of the Trustee at which at any particular time this Indenture shall be principally
administered, which office at the date hereof is located at 10161 Centurion Parkway N., Jacksonville, Florida 32256, Attention:
Corporate Trust Administration.

 

“Currency
unit”, for all purposes of this Indenture, shall include any composite currency.

 

“Default”
means any event which is, or after notice or passage of time, or both, would be, an Event of Default.

 

“Depository”,
when used with respect to the Securities of or within any series issuable or issued in whole or in part in global form, means
the Person designated as Depository by the Company pursuant to Section 3.1 until a successor Depository shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter shall mean or include each Person which is then a Depository
hereunder, and if at any time there is more than one such Person, shall be a collective reference to such Persons.

 

    2

     

    

 

“Dollar”
or “$” means the coin or currency of the United States as at the time of payment is legal tender for the payment of
public and private debts.

 

“Euro”
means the lawful currency of the participating member states of the European Union that adopt a single currency in accordance
with the Treaty establishing the European Community, as amended by the Treaty on European Union signed February 7, 1992.

 

“Foreign
Currency” shall mean any currency issued by the government or governments of one or more countries other than the United
States or by any recognized confederation or association of such governments and shall include the Euro.

 

“Government
Obligations” means securities which are (i) direct obligations of the United States or, if specified as contemplated by
Section 3.1, the government which issued the currency in which the Securities of a particular series are payable, for the payment
of which its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency
or instrumentality of the United States or, if specified as contemplated by Section 3.1, such government which issued the foreign
currency in which the Securities of such series are payable, for the payment of which the full faith and credit of the United
States or such other government is pledged (whether by guaranty or otherwise), which, in either case, are not callable or redeemable
at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or trust company as custodian
with respect to any such Government Obligation or a specific payment of interest on or principal of any such Government Obligation
held by such custodian for the account of the holder of a depository receipt, provided that (except as required by law) such custodian
is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received
by the custodian in respect of the Government Obligation evidenced by such depository receipt.

 

“Holder”
means a person in whose name a Registered Security is registered on the Register.

 

“Indenture”
means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument
and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this
instrument and any such supplemental indenture, respectively; provided, however, that if at any time more than one Person is acting
as Trustee under this Indenture due to the appointment of one or more separate Trustees for any one or more separate series of
Securities, “Indenture” shall mean, with respect to such series of Securities for which any such Person is Trustee,
this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental
hereto entered into pursuant to the applicable provisions hereof, exclusive, however, of any provisions or terms which relate
solely to other series of Securities for which such Person is not Trustee, regardless of when such terms or provisions were adopted,
and exclusive of any provisions or terms adopted by means of one or more indentures supplemental hereto executed and delivered
after such Person had become such Trustee, but to which such Person, as such Trustee, was not a party; provided further that in
the event that this indenture is supplemented or amended by one or more indentures supplemental hereto which are only applicable
to certain series of Securities, the term “Indenture” for a particular series of Securities shall only include the
supplemental indentures applicable thereto.

 

    3

     

    

 

“Indexed
Security” means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be
more or less than the principal face amount thereof at original issuance.

 

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

 

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

 

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

 

“Officer”
means the President, Chairman of the Board, the Chief Executive Officer, the Chief Operating Officer, the Chief Financial Officer
the Treasurer, any Assistant Treasurer, the Controller, any Vice President (whether or not designated by a number or numbers or
word or words added before the title “Vice President”), or the Corporate Secretary of the Company.

 

“Officer’s
Certificate” means a certificate signed by an Officer of the Company.

 

“Opinion
of Counsel” means a written opinion of legal counsel, who may be, without limitation, (a) an employee of the Company, or
(b) outside counsel designated by the Company.

 

“Original
Issue Discount Security” means any Security which provides for an amount less than the stated principal amount thereof to
be due and payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.2.

 

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

 

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

 

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

 

    4

     

    

 

(iii)       Securities,
except to the extent provided in Sections 4.4 and 4.5, with respect to which the Company has effected defeasance and/or covenant
defeasance as provided in Article IV; and

 

(iv)       Securities
which have been paid pursuant to Section 3.6 or in exchange for or in lieu of which other Securities have been authenticated and
delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the
Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are valid
obligations of the Company;

 

provided,
however, that unless otherwise provided with respect to Securities of any series pursuant to Section 3.1, in determining whether
the Holders of the requisite principal amount of the Outstanding Securities have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, or whether sufficient funds are available for redemption or for any other purpose, and for
the purpose of making the calculations required by section 313 of the Trust Indenture Act or are present at a meeting of Holders
for quorum purposes, (w) the principal amount of any Original Issue Discount Securities that may be counted in making such determination
or calculation and that shall be deemed to be Outstanding for such purpose shall be equal to the amount of principal thereof that
would be (or shall have been declared to be) due and payable, at the time of such determination, upon a declaration of acceleration
of the maturity thereof pursuant to Section 5.2, (x) the principal amount of any Security denominated in one or more Foreign Currencies
or currency units that may be counted in making such determination or calculation and that shall be deemed Outstanding for such
purpose shall be equal to the Dollar equivalent, determined as of the date such Security is originally issued by the Company as
set forth in an Exchange Rate Officer’s Certificate delivered to the Trustee, of the principal amount (or, in the case of
an Original Issue Discount Security, the Dollar equivalent, determined as of such date of original issuance, of the amount determined
as provided in clause (w) above) of such Security, (y) unless otherwise provided with respect to such Security pursuant to Section
3.1, the principal amount of any Indexed Security that may be counted in making such determination or calculation and that shall
be deemed Outstanding for such purpose shall be equal to the principal face amount of such Indexed Security at original issuance,
and (z) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other
obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected
in making such calculation or in relying upon any such request, demand, authorization, direction, notice, consent or waiver, or
determination as to the presence of a quorum, only Securities which a Responsible Officer of the Trustee actually knows to be
so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if
the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities
and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other
obligor.

 

“Paying
Agent” means any Person authorized by the Company to pay the principal of, premium, if any, or interest and any other payments
on all or any of the series of Securities on behalf of the Company.

 

    5

     

    

 

“Periodic
Offering” means an offering of Securities of a series from time to time the specific terms of which such Securities, including,
without limitation, the rate or rates of interest or formula for determining the rate or rates of interest thereon, if any, the
Maturity thereof and the redemption provisions, if any, with respect thereto, are to be determined by the Company upon the issuance
of such Securities.

 

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

 

“Place
of Payment”, when used with respect to the Securities of or within any series, means the place or places where the principal
of, premium, if any, and interest and any other payments on such Securities are payable as specified as contemplated by Sections
3.1 and 9.2.

 

“Predecessor
Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that
evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under
Section 3.6 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same
debt as the mutilated, destroyed, lost or stolen Security.

 

“Preferred
Stock” as applied to the capital stock of the Company means capital stock of any class or classes (however designated) which
is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation
or dissolution of the Company, over shares of Common Stock of such corporation.

 

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

 

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

 

“Registered
Security” means any Security issued hereunder and registered as to principal and interest in the Register.

 

“Regular
Record Date” for the interest payable on any Interest Payment Date on the Securities of or within any series means the date
specified for that purpose as contemplated by Section 3.1, which date shall be, unless otherwise specified pursuant to Section
3.1, the fifteenth day preceding such Interest Payment Date, whether or not such day shall be a Business Day.

 

“Responsible
Officer”, when used with respect to the Trustee, shall mean any senior vice president, vice president, any assistant vice
president or assistant secretary working in its corporate trust department and assigned responsibility for this engagement, or
any other officer of the Trustee customarily performing functions similar to those performed by the persons who at the time shall
be such officers, respectively, working in its corporate trust department and assigned responsibility for this engagement, or
to whom any corporate trust matter relating to the Indenture or the Securities is referred because of his knowledge of and familiarity
with a particular subject.

 

    6

     

    

 

“Security”
or “Securities” has the meaning stated in the first recital of this Indenture and more particularly means a Security
or Securities of the Company issued, authenticated and delivered under this Indenture.

 

“Special
Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.7.

 

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

 

“Subsidiary”
means any Person of which the Company at the time owns or controls, directly or indirectly, more than 50% of the shares of outstanding
stock or other equity interests having general voting power under ordinary circumstances to elect a majority of the Board of Directors,
managers or trustees, as the case may be, of such Person (irrespective of whether or not at the time stock of any other class
or classes or other equity interests of such corporation shall have or might have voting power by reason of the happening of any
contingency).

 

“Trust
Indenture Act” means the Trust Indenture Act of 1939 as in effect on the date of this Indenture, except as provided in Section
8.3.

 

“Trustee”
means the party named as such in the first paragraph of this Indenture until a successor Trustee replaces it pursuant to the applicable
provisions of this Indenture, and thereafter means such successor Trustee and if, at any time, there is more than one Trustee,
“Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to the Securities
of that series.

 

“United
States” means, unless otherwise specified with respect to the Securities of any series as contemplated by Section 3.1, the
United States of America (including the States and the District of Columbia), its territories, its possessions and other areas
subject to its jurisdiction.

 

“U.S.
Person” means, unless otherwise specified with respect to the Securities of any series as contemplated by Section 3.1, an
individual citizen or resident of the United States, a corporation created or organized in or under the laws of the United States,
any State thereof or the District of Columbia, or a partnership, estate or trust treated as a domestic partnership, estate or
trust for United States federal income tax purposes.

 

(b)       The
following terms shall have the meanings specified in the Sections referred to opposite such term below:

 

	Term	 	Section
    
	 	 	 
	“Act”	 	1.4(a)
	“Bankruptcy
    Law”	 	5.1
	“Component
    Currency”	 	3.11(h)
	“Conversion
    Date”	 	3.11(d)
	“Conversion
    Event”	 	3.11(h)
	“Custodian”	 	5.1
	“Defaulted
    Interest”	 	3.7(b)
	“Election
    Date”	 	3.11(h)
	“Event
    of Default”	 	5.1
	“Exchange
    Rate Agent”	 	3.11(h)
	“Exchange
    Rate Officer’s Certificate”	 	3.11(h)
	“Market
    Exchange Rate”	 	3.11(h)
	“Register”	 	3.5
	“Registrar”	 	3.5
	“Specified
    Amount”	 	3.11(h)
	“Valuation
    Date”	 	3.11(c)

 

    7

     

    

 

Section
1.2. COMPLIANCE CERTIFICATES AND OPINIONS. Upon any application or request by the Company to the Trustee to take any action under
any provision of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions
precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel
stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the
case of any application or request as to which the furnishing of such documents is specifically required by any provision of this
Indenture relating to such particular application or request, no additional certificate or opinion need be furnished.

 

Every
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than pursuant
to Sections 2.3) shall include:

 

(1)       a
statement that the individual signing such certificate or opinion has read such condition or covenant and any definitions in this
Indenture that are used in such certificate or opinion;

 

(2)       a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based;

 

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

 

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

 

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

 

    8

     

    

 

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

 

Any
certificate or opinion of an officer of the Company or of counsel may be based, insofar as it relates to accounting matters, upon
a certificate or opinion of or representations by an accountant or firm of accountants in the employ of the Company, unless such
officer or counsel, as the case may be, knows that the certificate or opinions or representations as to such accounting matters
are erroneous.

 

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

 

Section
1.4. ACTS OF HOLDERS. (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this
Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar
tenor signed by such Holders in person or by agent duly appointed in writing; and, except as herein otherwise expressly provided,
such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly
required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes
referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument
or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and conclusive in favor of the
Trustee and the Company, if made in the manner provided in this Section.

 

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

 

(c)       The
ownership of Registered Securities shall be proved by the Register (as defined in Section 3.5 below).

 

    9

     

    

 

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

 

(e)       If
the Company shall solicit from the Holders of any series any request, demand, authorization, direction, notice, consent, waiver
or other Act, the Company may, at its option, fix in advance a record date for the determination of Holders of such series entitled
to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company shall have no obligation
to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act
may be given before or after such record date, but only the Holders of such series of record at the close of business on such
record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of Outstanding
Securities of such series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent,
waiver or other Act, and for that purpose the Outstanding Securities of such series shall be computed as of such record date;
provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless
taken on or prior to the applicable Expiration Date (as defined below) by Holders of the requisite amount of Outstanding Securities
of such series on such record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record
date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously
set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be
construed to render ineffective any action taken by Holders of the requisite amount of Outstanding Securities of any series on
the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense,
shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Trustee
in writing and to each Holder of Securities in the manner set forth in Section 1.6.

 

With
respect to any record date set pursuant to this Section 1.4, the Company may designate any date as the “Expiration Date”
and from time to time may change the Expiration Date to any earlier or later day; provided that no such change shall be effective
unless notice of the proposed new Expiration Date is given to the Trustee, and to each Holder of Securities of the applicable
series in the manner set forth in Section 1.6 on or prior to the existing Expiration Date. If an Expiration Date is not designated
with respect to any record date pursuant to this Section, the Company shall be deemed to have initially designated the 180th day
after such record date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date as provided
in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day after the applicable record
date.

 

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

 

    10

     

    

 

(g)       The
Company and the Trustee may make reasonable rules for action by or at a meeting of Holders.

 

Section
1.5. NOTICES, ETC., TO TRUSTEE AND COMPANY. Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders
or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with:

 

if
to the Company:

 

Akoustis
Technologies, Inc.

9805 Northcross Center Court, Suite A 

Huntersville,
NC 28078 

Attention:
Chief Executive Officer

 

if
to the Trustee:

 

The
Bank of New York Mellon Trust Company, N.A.

10161 Centurion Parkway N.

Jacksonville, Florida 32256

Email: Kandy.Williams@bnymellon.com

Fax: (904) 645-1921

Attention: Corporate Trust Administration

 

Notices
to the Trustee are deemed given only upon actual receipt by the Trustee.

 

The
Company or the Trustee by notice to the other may designate additional or different addresses (including facsimile numbers and
electronic addresses) for subsequent notices or communications.

 

Any
notice or communication shall be in writing and delivered in person or mailed by first-class mail (registered or certified, return
receipt requested), facsimile transmission, electronic transmission or other similar means of unsecured electronic communication
or overnight air courier guaranteeing next day delivery.

 

Section
1.6. NOTICE TO HOLDERS; WAIVER. Where this Indenture provides for notice to Holders of any event, if any of the Securities affected
by such event are Registered Securities, such notice to the Holders thereof shall be sufficiently given (unless otherwise herein
or in the terms of such Securities expressly provided) if in writing and mailed, first-class postage prepaid, to each such Holder
affected by such event, at his address as it appears in the Register, within the time prescribed for the giving of such notice;
provided that notices given to Holders of Securities in global form may be given electronically through the facilities of the
Depository.

 

In
any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed,
to any particular Holder shall affect the sufficiency of such notice with respect to other Holders of Registered Securities as
provided herein. In any case where notice is given to Holders by publication, neither the failure to publish such notice, nor
any defect in any notice so published, shall affect the sufficiency of such notice with respect to the sufficiency of any notice
to Holders of Registered Securities given as provided herein. Any notice mailed to a Holder in the manner herein prescribed shall
be conclusively deemed to have been received by such Holder, whether or not such Holder actually receives such notice.

 

    11

     

    

 

If
by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice
as provided above, then such notification as shall be made with the approval of the Trustee (such approval not to be unreasonably
withheld) shall constitute a sufficient notification for every purpose hereunder. If it is impossible or, in the opinion of the
Trustee, impracticable to give any notice by publication in the manner herein required, then such publication in lieu thereof
as shall be made with the approval of the Trustee shall constitute a sufficient publication of such notice.

 

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

 

Where
this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such
notice, either before or after the event, and such waiver shall be equivalent of such notice. Waivers of notice by Holders shall
be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance
upon such waiver.

 

Section
1.7. HEADINGS AND TABLE OF CONTENTS. The Article and Section headings herein and the Table of Contents are for convenience only
and shall not affect the construction hereof.

 

Section
1.8. SUCCESSOR AND ASSIGNS. All covenants and agreements in this Indenture by the Company shall bind its successor and assigns,
whether so expressed or not.

 

Any
act or proceeding that is required or permitted by any provision of this Indenture and that is authorized or required to be done
or performed by any board, committee or officer of the Company shall and may be done and performed with like force and effect
by the like board, committee or officer of any corporation that shall at the time be the successor or assign of the Company.

 

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

 

Section
1.10. BENEFITS OF INDENTURE. Nothing in this Indenture or in any Securities, expressed or implied, shall give to any Person, other
than the parties hereto and their successors hereunder, any Agent and the Holders, any benefit or any legal or equitable right,
remedy or claim under this Indenture.

 

Section
1.11. GOVERNING LAW. UNLESS OTHERWISE PROVIDED WITH RESPECT TO ANY SECURITIES OF ANY SERIES PURSUANT TO SECTION 3.1, THIS INDENTURE
AND THE SECURITIES APPERTAINING THERETO SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE. This Indenture is subject to the Trust Indenture Act and if any
provision hereof limits, qualifies or conflicts with a provision included in this Indenture which is required by the Trust Indenture
Act, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture
Act that may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified, or to
be excluded, as the case may be, whether or not such provision of this Indenture refers expressly to such provision of the Trust
Indenture Act.

 

    12

     

    

 

Section
1.12. WAIVER OF JURY TRIAL. EACH OF THE COMPANY, THE TRUSTEE AND EACH HOLDER (BY ITS ACCEPTANCE OF ANY SECURITY) HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING
OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY. EACH OF THE COMPANY, THE TRUSTEE
AND EACH HOLDER (BY ITS ACCEPTANCE OF ANY SECURITY) HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY STATE OR U.S. FEDERAL
COURT IN THE CITY OF NEW YORK AND COUNTY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO
THE INDENTURE AND THE SECURITIES, AND IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY,
JURISDICTION OF THE AFORESAID COURTS.

 

Section
1.13. LEGAL HOLIDAYS. Unless otherwise provided with respect to any Security or Securities pursuant to Section 3.1, in any case
where any Interest Payment Date, Redemption Date, sinking fund payment date, Stated Maturity or Maturity or other payment date
of any Security shall not be a Business Day at any Place of Payment, then, notwithstanding any other provision of this Indenture
or any Security, payment of principal, premium, if any or interest or other payments need not be made at such Place of Payment
on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if
made on such date; provided that no interest shall accrue on the amount so payable for the period from and after such Interest
Payment Date, Redemption Date, sinking fund payment date, Stated Maturity or Maturity or other payment date, as the case may be.

 

Section
1.14. NO RECOURSE AGAINST OTHERS. No past, present or future director, officer, employee, agent, member, manager, trustee or stockholder,
as such, of the Company or any successor Person shall have any liability for any obligations of the Company or any successor Person,
either directly or through the Company or any successor Person, under the Securities or this Indenture or for any claim based
on, in respect of or by reason of such obligations or their creation, whether by virtue of any rule of law, statute or constitutional
provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise. By accepting a Security,
each Holder agrees to the provisions of this Section 1.14 and waives and releases all such liability. Such waiver and release
shall be part of the consideration for the issue of the Securities.

 

    13

     

    

 

Article
II

SECURITY FORMS 

 

Section
2.1. FORMS GENERALLY. The Securities of each series shall be in substantially such form as shall be established in one or more
indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as
are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends
or endorsements placed thereon as the Company may deem appropriate or as may be required to comply with any applicable law, rule
or regulation or with the rules or usage of any securities exchange or Depository therefor or as may, consistently herewith, be
determined by the officers executing such Securities as evidenced by their execution of the Securities. If temporary Securities
of any series are issued as permitted by Section 3.4, the form thereof also shall be established as provided in the preceding
sentence.

 

The
definitive Securities shall be typeset, printed, lithographed or engraved on steel engraved borders or may be produced in any
other manner or medium, all as determined by the officers executing such Securities as evidenced by their execution of such Securities.

 

Section
2.2. FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION. Subject to Section 6.13 (as applicable to any Authenticating Agent),
the Trustee’s certificate of authentication shall be in substantially the following form:

 

This
is one of the [Securities] [of the series designated herein and] referred to in the within-mentioned Indenture.

 

	 	The Bank of New York Mellon Trust
    Company, N.A., as Trustee
	Dated:	 	 
	 	 	 
	 	By: 	
	 	 	AUTHORIZED SIGNATORY

 

Section
2.3. SECURITIES IN GLOBAL FORM. If Securities of or within a series are issuable in whole or in part in global form, any such
Security may provide that it shall represent the aggregate or specified amount of Outstanding Securities from time to time endorsed
thereon and may also provide that the aggregate amount of Outstanding Securities represented thereby may from time to time be
reduced or increased to reflect exchanges. Any endorsement of a Security in global form to reflect the amount, or any increase
or decrease in the amount, or changes in the rights of Holders, of Outstanding Securities represented thereby, shall be made in
such manner and by such Person or Persons as shall be specified therein or in the Company Order to be delivered to the Trustee
pursuant to Section 3.3 or 3.4. Subject to the provisions of Section 3.3 and, if applicable, Section 3.4, the Trustee shall deliver
and redeliver any security in permanent global form in the manner and upon instructions given by the Person or Persons specified
therein or in the applicable Company Order. Any instructions by the Company with respect to endorsement or delivery or redelivery
of a Security in global form shall be in writing but need not comply with Section 1.2 hereof and need not be accompanied by an
Opinion of Counsel.

 

    14

     

    

 

The
provisions of the last paragraph of Section 3.3 shall apply to any Security in global form if such Security was never issued and
sold by the Company and the Company delivers to the Trustee such Security in global form together with written instructions (which
need not comply with Section 1.2 and need not be accompanied by an Opinion of Counsel) with regard to the reduction in the principal
amount of Securities represented thereby, together with the written statement contemplated by the last paragraph of Section 3.3.

 

Notwithstanding
the provisions of Section 2.1 and 3.7, unless otherwise specified as contemplated by Section 3.1, payment of principal of, premium,
if any, and interest on any Security in permanent global form shall be made to the Person or Persons specified therein.

 

Section
2.4. FORM OF LEGEND FOR SECURITIES IN GLOBAL FORM. Unless otherwise provided with respect to any Securities of any series pursuant
to Section 3.1 or required by the Depository, any Security of such series in global form authenticated and delivered hereunder
shall bear a legend in substantially the following form:

 

This
Security is in global form within the meaning of the Indenture hereinafter referred to and is registered in the name of a Depository
or a nominee of a Depository. Unless and until it is exchanged in whole or in part for Securities in certificated form, this Security
may not be transferred except as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to
the Depository or another nominee of the Depository or by the Depository or any such nominee to a successor Depository or a nominee
of such successor Depository. Every Security authenticated and delivered upon registration of, or in exchange for, or in lieu
of, this Security will be in global form, subject to the foregoing.

 

Article
III

THE SECURITIES 

 

Section
3.1. AMOUNT UNLIMITED; ISSUABLE IN SERIES. (a) The aggregate principal amount of Securities which may be authenticated, delivered
and outstanding under this Indenture is unlimited. The Securities may be issued from time to time in one or more series.

 

(b)       The
following matters shall be established, without the approval of any Holders, with respect to each series of Securities issued
hereunder in one or more indentures supplemental hereto:

 

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

 

(2)       any
limit upon the aggregate principal amount of the Securities of the series which may be authenticated, delivered and outstanding
under this Indenture (which limit shall not pertain to Securities authenticated and delivered upon registration of transfer of,
or in exchange for, or in lieu of, other Securities of the series pursuant to Section 3.4, 3.5, 3.6, 8.6, or 10.7 and except for
any Securities which, pursuant to Section 3.3, are deemed never to have been authenticated and delivered hereunder);

 

    15

     

    

 

(3)       the
date or dates on which the principal of and premium, if any, on the Securities of the series is payable or the method of determination
and/or extension of such date or dates; and the amount or amounts of such principal and premium, if any, payments or the method
of determination thereof;

 

(4)       the
rate or rates (which may be fixed or variable) at which the Securities of the series shall bear interest, if any, or the method
of calculating and/or resetting such rate or rates of interest, the date or dates from which such interest shall accrue or the
method by which such date or dates shall be determined, the Interest Payment Dates on which any such interest shall be payable
or the method by which such dates will be determined, the terms of any deferral of interest and the additional interest, if any,
thereon and, with respect to Registered Securities, the Regular Record Date, if any, for the interest payable on any Registered
Security on any Interest Payment Date, the right, if any, of the Company to extend the Interest Payment Dates and the Regular
Record Date, if any, and the duration of the extensions and the basis upon which interest shall be calculated if other than upon
a 360-day year of twelve 30-day months;

 

(5)       the
place or places where the principal of, premium, if any, and interest, if any, on Securities of the series shall be payable;

 

(6)       the
period or periods within which, the price or prices at which, the currency or currencies (including currency units) in which,
and the other terms and conditions upon which, Securities of the series may be redeemed, in whole or in part, at the option of
the Company or otherwise, and, if other than as provided in Section 10.3, the manner in which the particular Securities of such
series (if less than all Securities of such series are to be redeemed) are to be selected for redemption;

 

(7)       the
obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund or analogous provisions
or upon the happening of a specified event or at the option of a Holder thereof and the period or periods within which, the price
or prices at which, and the other terms and conditions upon which, Securities of the series shall be redeemed or purchased, in
whole or in part, pursuant to such obligation and provisions for the remarketing of such series;

 

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

 

(9)       if
other than Dollars, the currency or currencies (including currency unit or units) in which the principal of, premium, if any,
and interest, if any, or other payments, if any, on the Securities of the series shall be payable, or in which the Securities
of the series shall be denominated, and the particular provisions applicable thereto in accordance with, in addition to, or in
lieu of the provisions of Section 3.11;

 

(10)       the
terms, if any, upon which Securities of the series may be convertible into or exchanged for other Securities, Common Stock, Preferred
Stock, other debt securities, warrants to purchase any of the foregoing, or other securities of any kind of the Company or any
other obligor and the terms and conditions upon which the conversion or exchange shall be effected, including the initial conversion
or exchange price or rate, the conversion or exchange period, and any other additional provisions;

 

    16

     

    

 

(11)       if
the payments of principal of, premium, if any, or interest, if any, or other payments, if any, on the Securities of the series
are to be made, at the election of the Company or a Holder, in a currency or currencies (including currency unit or units) other
than that in which such Securities are denominated or designated to be payable, the currency or currencies (including currency
unit or units) in which such payments are to be made, the terms and conditions of such payments and the manner in which the exchange
rate with respect to such payments shall be determined, and the particular provisions applicable thereto in accordance with, in
addition to, or in lieu of the provisions of Section 3.11;

 

(12)       if
the amount of payments of principal of, premium, if any, and interest, if any, or other payments, if any, on the Securities of
the series shall be determined with reference to an index, formula or other method (which index, formula or method may be based,
without limitation, on the price of one or more commodities, derivatives or securities; one or more securities, derivatives or
commodities exchange indices or other indices; a currency or currencies (including currency unit or units) other than that in
which the Securities of the series are denominated or designated to be payable; or any other variable or the relationship between
any variables or combination of variables), the index, formula or other method by which such amounts shall be determined;

 

(13)       if
other than the principal amount thereof, the portion of the principal amount of such Securities of the series or other amount
which shall be payable upon declaration of acceleration thereof pursuant to Section 5.2 or provable in bankruptcy or the method
by which such portion or amount shall be determined;

 

(14)       if
other than as provided in Section 3.7, the Person to whom any interest on any Registered Security of the series shall be payable;

 

(15)       if
the principal amount payable at the Maturity of any Securities of the series will not be determinable as of one or more dates
prior to Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date hereunder
or thereunder, or, if other than as provided in the definition of the term “Outstanding”, which shall be deemed to
be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be
the principal amount shall be determined) and, if necessary, the manner of determining the equivalent thereof in U.S. currency;

 

(16)       provisions,
if any, granting special rights to the Holders of Securities of the series upon the occurrence of such events as may be specified;

 

(17)       the
applicability of or any deletions from, modifications of or additions to the Events of Default set forth in Section 5.1 or covenants
of the Company set forth in Article IX pertaining to the Securities of the series;

 

    17

     

    

 

(18)       under
what circumstances, if any, the Company will pay additional amounts on the Securities of that series held by a Person who is not
a U.S. Person in respect of taxes or similar charges withheld or deducted and, if so, whether the Company will have the option
to redeem such Securities rather than pay such additional amounts (and the terms of any such option);

 

(19)       the
date as of which any temporary global Security representing Outstanding Securities of the series shall be dated if other than
the date of original issuance of the first Security of the series to be issued;

 

(20)       the
forms of the Securities of the series;

 

(21)       any
changes or additions to the provisions provided in Article IV of this Indenture pertaining to defeasance, including without limitation,
the exclusion of Section 4.4 or 4.5, or both, with respect to the Securities of or within the series; or the applicability, if
any, to the Securities of or within the series of such means of defeasance or covenant defeasance other than those provided in
Sections 4.4 and 4.5 as may be specified for the Securities of such series, and whether, for the purpose of any defeasance or
covenant defeasance pursuant to Section 4.4 or 4.5 or otherwise, the term “Government Obligations” shall include obligations
referred to in the definition of such term which are not obligations of the United States or an agency or instrumentality of the
United States;

 

(22)       if
other than the Trustee, the identity of the Registrar and any Paying Agent;

 

(23)       any
terms which may be related to warrants, options or other rights to purchase and sell securities issued by the Company in connection
with, or for the purchase of, Securities of such series, including whether and under what circumstances the Securities of any
series may be used toward the exercise price of any such warrants, options or other rights;

 

(24)       the
designation of the initial Exchange Rate Agent, if any;

 

(25)       whether
any of the Securities of the series shall be issued in whole or in part in global form, and if so (i) the Depository for such
global Securities, (ii) the form of any legend in addition to or in lieu of that in Section 2.4 which shall be borne by such global
Securities, (iii) whether beneficial owners of interests in any Securities of the series in global form may exchange such interests
for certificated Securities of such series and of like tenor of any authorized form and denomination, and (iv) if other than as
provided in Section 3.5, the circumstances under which any such exchange may occur;

 

(26)       the
priority, ranking or subordination, if any, of the Securities of the series;

 

(27)       if
the Securities of the series will be governed by, and the extent to which such Securities will be governed by, any law other than
the laws of the state of New York;

 

(28)       the
terms, if any, of any guarantee of the payment of principal, premium and interest with respect to Securities of the series and
any corresponding changes to the provisions of this Indenture as then in effect;

 

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(29)       the
terms, if any, of the transfer, mortgage, pledge or assignment as security for the Securities of the series of any properties,
assets, moneys, proceeds, securities or other collateral, including whether certain provisions in the Trust Indenture Act are
applicable and any corresponding changes to provisions of this Indenture as then in effect; and

 

(30)       any
other terms of the series, including any terms which may be required by or advisable under United States laws or regulations or
advisable (as determined by the Company) in connection with the marketing of Securities of the series.

 

(c)       The
terms applicable to the Securities of any one series need not be identical but may vary as may be provided in an indenture supplemental
hereto. All Securities of any one series need not be issued at the same time and, unless otherwise provided, a series may be reopened,
without the consent of the Holders, for issuances of additional Securities of such series.

 

(d)       Except
as may be otherwise expressly provided in the applicable supplemental indenture, as contemplated by this Section 3.1, the Securities
of any series shall rank PARI PASSU with the Securities of each other Series.

 

Section
3.2. DENOMINATIONS. Unless otherwise provided as contemplated by Section 3.1, any Securities of a series shall be issuable in
denominations of $1,000 and any integral multiple thereof.

 

Section
3.3. EXECUTION, AUTHENTICATION, DELIVERY AND DATING. Securities shall be executed on behalf of the Company by the Chief Executive
Officer, the Chief Financial Officer, the President, or any Vice President, the Treasurer or the Corporate Secretary of the Company.
The seal of the Company, if any, may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise
reproduced on the Securities. The signatures of any of these officers on the Securities may be manual or facsimile.

 

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

 

At
any time and from time to time, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication,
together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company
Order shall authenticate and deliver such Securities.

 

In
authenticating such Securities and accepting the additional responsibilities under this Indenture in relation to such Securities,
the Trustee shall be entitled to receive, and (subject to section 315(a) through (d) of the Trust Indenture Act) shall be fully
protected in relying upon, an Opinion of Counsel substantially to the effect that,

 

(1)       the
form of such Securities have been established in conformity with the provisions of this Indenture;

 

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(2)       the
terms of such Securities have been, or in the case of Securities of a series offered in a Periodic Offering will be, established
in conformity with the provisions of this Indenture, subject in the case of Securities offered in a Periodic Offering, to any
conditions specified in such Opinion of Counsel; and

 

(3)       such
Securities, when authenticated and delivered by the Trustee, issued by the Company in accordance with the provisions of this Indenture,
and delivered to and duly paid for by the purchasers thereof, and subject to any conditions specified in such Opinion of Counsel,
will constitute legal, valid and binding obligations of the Company, enforceable in accordance with their terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and other similar laws of general applicability relating to or affecting
the enforcement of creditors’ rights and to general equity principles and except further as enforcement thereof may be limited
by or subject to certain exceptions and qualifications specified in such Opinion of Counsel, including in the case of any Securities
denominated in a Foreign Currency, (A) requirements that a claim with respect to any Securities denominated other than in Dollars
(or a foreign currency or foreign currency unit judgment in respect of such claim) be converted into Dollars at a rate of exchange
prevailing on a date determined pursuant to applicable law or (B) governmental authority to limit, delay or prohibit the making
of payments in foreign currency or currency units or payments outside the United States.

 

Such
Opinion of Counsel need express no opinion as to whether a court in the United States would render a money judgment in a currency
other than that of the United States. Such counsel may rely on opinions of other counsel (copies of which shall be delivered to
the Trustee), and, to the extent such opinion involves factual matters, such counsel may rely upon certificates of officers of
the Company and certificates of public officials.

 

The
Trustee shall have the right to decline to execute any supplemental indenture establishing the terms of or the form of such Securities
if, in the written opinion of counsel to the Trustee (which counsel may be an employee of the Trustee), such action may not lawfully
be taken, or if the Trustee, in good faith by a Responsible Officer of the Trustee, shall determine, in its sole discretion, that
such action would adversely affect it.

 

Notwithstanding
the provisions of Section 3.1 and of the two preceding paragraphs, if all of the Securities of any series are not to be issued
at one time, it shall not be necessary to deliver the Officer’s Certificate otherwise required pursuant to Section 3.1 or
the Company Order and Opinion of Counsel otherwise required pursuant to the two preceding paragraphs in connection with the authentication
of each Security of such series if such documents, with appropriate modifications to cover such future issuances, are delivered
at or prior to the authentication upon original issuance of the first Security of such series to be issued.

 

With
respect to Securities of a series offered in a Periodic Offering, the Trustee may rely, as to the authorization by the Company
of any of such Securities, the form and terms thereof and the legality, validity, binding effect and enforceability thereof, upon
the Opinion of Counsel and the other documents delivered pursuant to Sections 2.1 and 3.1 and this Section, as applicable, in
connection with the first authentication of Securities of such series.

 

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If
the Company shall establish pursuant to Section 3.1 that the Securities of a series are to be issued in whole or in part in global
form, then, unless otherwise provided with respect to such Securities pursuant to Section 3.1, the Company shall execute and the
Trustee shall, in accordance with this Section and the Company Order with respect to such series, authenticate and deliver one
or more Securities in global form that (i) shall represent and shall be denominated in an amount equal to the aggregate principal
amount of the Outstanding Securities of such series to be represented by such Security or Securities in global form, (ii) shall
be registered, if a Registered Security, in the name of the Depository for such Security or Securities in global form or the nominee
of such Depository, (iii) shall be delivered by the Trustee to such Depository or pursuant to such Depository’s instruction
and (iv) shall bear the legend set forth in Section 2.4.

 

Unless
otherwise established pursuant to Section 3.1, each Depository designated pursuant to Section 3.1 for a Registered Security in
global form must, at the time of its designation and at all times while it serves as Depository, be a clearing agency registered
under the Securities Exchange Act of 1934, as amended, and any other applicable statute or regulation. Neither the Company nor
the Trustee shall have any responsibility to determine if the Depository is so registered.

 

Each
Depository shall enter into an agreement with the Company and the Trustee, as agent, governing the respective duties and rights
of such Depository, the Company and the Trustee, as agent, with regard to Securities of a series issued in global form.

 

Each
Registered Security shall be dated the date of its authentication as contemplated by Section 3.1.

 

No
Security shall be entitled to any benefits under this Indenture or be valid or obligatory for any purpose until authenticated
by the manual signature of one of the authorized signatories of the Trustee or an Authenticating Agent. Such signature upon any
Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered under
this Indenture and is entitled to the benefits of this Indenture.

 

Notwithstanding
the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company,
and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 3.9 together with a written
statement (which need not comply with Section 1.2 and need not be accompanied by an Opinion of Counsel) stating that such Security
has never been issued and sold by the Company, for all purposes of this Indenture such Security shall be deemed never to have
been authenticated and delivered hereunder and shall not be entitled to the benefits of this Indenture.

 

Section
3.4. TEMPORARY SECURITIES. Pending the preparation of definitive Securities of any series, the Company may execute and, upon Company
Order, the Trustee shall authenticate and deliver temporary Securities of such series which are printed, lithographed, typewritten,
mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor and form, of the definitive Securities
in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers
executing such Securities may determine, as conclusively evidenced by their execution of such Securities. In the case of Securities
of any series, all or a portion of such temporary Securities may be in global form.

 

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Except
in the case of temporary Securities in global form, each of which shall be exchanged in accordance with the provisions thereof,
if temporary Securities of any series are issued, the Company will cause definitive Securities of such series to be prepared without
unreasonable delay. After preparation of definitive Securities of such series, the temporary Securities of such series shall be
exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at the office
or agency of the Company pursuant to Section 9.2 in a Place of Payment for such series, without charge to the Holder. Upon surrender
for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall authenticate
and deliver in exchange therefor a like principal amount of definitive Securities of the same series of authorized denominations
and of like tenor. Until so exchanged, the temporary Securities of any series shall in all respects be entitled to the same benefits
under this Indenture as definitive Securities of such series except as otherwise specified as contemplated by Section 3.1.

 

Section
3.5. REGISTRATION, TRANSFER AND EXCHANGE. The Company shall cause to be kept at the Corporate Trust Office of the Trustee or in
any office or agency to be maintained by the Company in accordance with Section 9.2 in a Place of Payment or in such other place
or medium as may be specified pursuant to Section 3.1 a register for each series of Securities (the registers maintained in such
office or in any such office or agency of the Company in a Place of Payment being herein sometimes referred to collectively as
the “Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for
the registration of Registered Securities and the registration of transfers of Registered Securities. The Register shall be in
written form or any other form capable of being converted into written form within a reasonable time. Unless otherwise provided
as contemplated by Section 3.1, the Trustee is hereby appointed “Registrar” for the purpose of registering Registered
Securities and transfers of Registered Securities, and for the purpose of maintaining the Register in respect thereof, as herein
provided.

 

Upon
surrender for registration of transfer of any Registered Security of any series at the office or agency maintained pursuant to
Section 9.2 in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and deliver,
in the name of the designated transferee or transferees, one or more new Registered Securities of the same series, of any authorized
denominations and of a like aggregate principal amount.

 

Unless
otherwise provided as contemplated by Section 3.1, at the option of the Holder, Registered Securities of any series (except a
Registered Security in global form) may be exchanged for other Registered Securities of the same series, of any authorized denominations
and of a like aggregate principal amount containing identical terms and provisions, upon surrender of the Registered Securities
to be exchanged at such office or agency. Whenever any Registered Securities are so surrendered for exchange, the Company shall
execute, and the Trustee shall authenticate and deliver, the Registered Securities which the Holder making the exchange is entitled
to receive.

 

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Unless
otherwise specified pursuant to Section 3.1 with respect to a series of Securities or as otherwise provided below in this Section
3.5, owners of beneficial interests in Securities of such series represented by a Security issued in global form will not be entitled
to have Securities of such series registered in their names, will not receive or be entitled to receive physical delivery of Securities
of such series in certificated form and will not be considered the Holders or owners thereof for any purposes hereunder. Notwithstanding
any other provision of this Section, unless and until it is exchanged in whole or in part for Securities in certificated form
in the circumstances described below, a Security in global form representing all or a portion of the Securities of a series may
not be transferred or exchanged except as a whole by the Depository for such series to a nominee of such Depository or by a nominee
of such Depository to such Depository or another nominee of such Depository or by such Depository or any such nominee to a successor
Depository for such series or a nominee of such successor Depository.

 

If
at any time the Depository for the Securities of a series notifies the Company that it is unwilling or unable to continue as Depository
for the Securities of such series or if at any time the Depository for the Securities of such series notifies the Company that
it shall no longer be eligible under Section 3.3, the Company shall appoint a successor Depository with respect to the Securities
of such series. Unless otherwise provided as contemplated by Section 3.1, if a successor Depository for the Securities of such
series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such ineligibility,
the Company’s election pursuant to Section 3.1(b) (25) shall no longer be effective with respect to the Securities of such
series and the Company shall execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of
certificated Securities of such series of like tenor, shall authenticate and deliver, Securities of such series of like tenor
in certificated form, in authorized denominations and in an aggregate principal amount equal to the principal amount of the Security
or Securities of such series of like tenor in global form in exchange for such Security or Securities in global form.

 

The
Company may at any time in its sole discretion determine that Securities of a series issued in global form shall no longer be
represented by such a Security or Securities in global form. In such event the Company shall execute, and the Trustee, upon receipt
of a Company Order for the authentication and delivery of certificated Securities of such series of like tenor, shall authenticate
and deliver, Securities of such series of like tenor in certificated form, in authorized denominations and in an aggregate principal
amount equal to the principal amount of the Security or Securities of such series of like tenor in global form in exchange for
such Security or Securities in global form.

 

If
specified by the Company pursuant to Section 3.1 with respect to a series of Securities, the Depository for such series may surrender
a Security in global form of such series in exchange in whole or in part for Securities of such series in certificated form on
such terms as are acceptable to the Company and such Depository. Thereupon, the Company shall execute, and the Trustee shall authenticate
and deliver, without service charge,

 

(i)       to
each Person specified by such Depository a new certificated Security or Securities of the same series of like tenor, of any authorized
denomination as requested by such Person in aggregate principal amount equal to and in exchange for such Person’s beneficial
interest in the Security in global form; and

 

    23

     

    

 

(ii)       to
such Depository a new Security in global form of like tenor in a denomination equal to the difference, if any, between the principal
amount of the surrendered Security in global form and the aggregate principal amount of certificated Securities delivered to Holders
thereof.

 

(iii)       Upon
the exchange of a Security in global form for Securities in certificated form, such Security in global form shall be cancelled
by the Trustee. Securities in certificated form issued in exchange for a Security in global form pursuant to this Section shall
be registered in such names and in such authorized denominations as the Depository for such Security in global form, pursuant
to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such
Securities to the Persons in whose names such Securities are so registered.

 

Whenever
any Securities are surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities
which the Holder making the exchange is entitled to receive.

 

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

 

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

 

Unless
otherwise provided as contemplated by Section 3.1, no service charge shall be made for any registration of transfer or for any
exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge
that may be imposed in connection with any registration or transfer or exchange of Securities, other than exchanges pursuant to
Section 3.4 or 10.7 not involving any transfer.

 

Unless
otherwise provided as contemplated by Section 3.1, none of the Company, the Registrar or the Trustee shall be required (i) to
issue, register the transfer of, or exchange any Securities for a period beginning at the opening of 15 Business Days before any
selection for redemption of Securities of like tenor and of the series of which such Security is a part and ending at the close
of business on the earliest date on which the relevant notice of redemption is deemed to have been given to all Holders of Securities
of like tenor and of such series to be redeemed; or (ii) to register the transfer of or exchange any Registered Security so selected
for redemption, in whole or in part, except the unredeemed portion of any Security being redeemed in part.

 

Section
3.6. REPLACEMENT SECURITIES. If a mutilated Security is surrendered to the Trustee, together with, in proper cases, such security
or indemnity as may be required by the Company or the Trustee to save each of them harmless, the Company shall execute and the
Trustee shall authenticate and deliver a replacement Registered Security, if such surrendered Security was a Registered Security
of the same series and date of maturity.

 

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

 

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

 

Upon
the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax
or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of
the Trustee, its agents and counsel) connected therewith.

 

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

 

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

 

Section
3.7. PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED.

 

(a)       Unless
otherwise provided as contemplated by Section 3.1, interest, if any, on any Registered Security which is payable, and is punctually
paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest at the office or agency
maintained for such purpose pursuant to 9.2; provided, however, that at the option of the Company, interest on any series of Registered
Securities that bear interest may be paid (i) by check mailed to the address of the Person entitled thereto as it shall appear
on the Register of Holders of Securities of such series or (ii) by wire transfer to an account maintained by the Person entitled
thereto as specified in the Register of Holders of Securities of such series.

 

(b)       Unless
otherwise provided as contemplated by Section 3.1, any interest on any Registered Security of any series which is payable, but
is not punctually paid or duly provided for, on any interest payment date (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such
Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or (2) below:

 

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

 

(2)       The
Company may make payment of any Defaulted Interest to the Persons in whose names such Registered Securities of such series (or
their respective Predecessor Securities) are registered at the close of business on a specified date in any other lawful manner
not inconsistent with the requirements of any securities exchange on which such Registered Securities may be listed, and upon
such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment
pursuant to this clause (2), such manner of payment shall be deemed practicable by the Trustee.

 

(c)       Subject
to the foregoing provisions of this Section and Section 3.5, each Security delivered under this Indenture upon registration of
transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to
accrue, which were carried by such other Security.

 

Section
3.8. PERSONS DEEMED OWNERS. Prior to due presentment of any Registered Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Registered Security is registered
as the owner of such Registered Security for the purpose of receiving payment of principal of, premium, if any, and (subject to
Section 3.7) interest and any other payments on such Registered Security and for all other purposes whatsoever, whether or not
such Registered Security shall be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall
be affected by notice to the contrary.

 

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None
of the Company, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect
of the records relating to or payments made on account of beneficial ownership interests of a Security in global form, or for
maintaining, supervising or reviewing any records relating to such beneficial ownership interests. Notwithstanding the foregoing,
with respect to any Security in global form, nothing herein shall prevent the Company or the Trustee, or any agent of the Company
or the Trustee, from giving effect to any written certification, proxy or other authorization furnished by any Depository (or
its nominee), as a Holder, with respect to such Security in global form or impair, as between such Depository and owners of beneficial
interests in such Security in global form, the operation of customary practices governing the exercise of the rights of such Depository
(or its nominee) as Holder of such Security in global form.

 

Section
3.9. CANCELLATION. The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and any Paying
Agent shall forward to the Trustee any Securities surrendered to them for replacement, for registration of transfer, or for exchange
or payment. The Trustee shall cancel all Securities surrendered for replacement, for registration of transfer, or for exchange,
payment, redemption or cancellation and may destroy cancelled Securities and, if so destroyed, shall issue a certificate of destruction
to the Company. The Company may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for
cancellation.

 

Section
3.10. COMPUTATION OF INTEREST. Except as otherwise specified as contemplated by Section 3.1, interest on the Securities of each
series shall be computed on the basis of a 360-day year of twelve 30-day months.

 

Section
3.11. CURRENCY AND MANNER OF PAYMENT IN RESPECT OF SECURITIES. (a) Unless otherwise specified with respect to any Securities pursuant
to Section 3.1, with respect to Registered Securities of any series payment of the principal of, premium, if any, interest, if
any, and other amounts, if any, on any Registered Security of such series will be made in the currency or currencies or currency
unit or units in which such Registered Security is payable. The provisions of this Section 3.11, including without limitation
any defined terms specified herein, may be modified or superseded in whole or in part pursuant to Section 3.1 with respect to
any Securities.

 

(b)       If
expressly specified pursuant to Section 3.1, with respect to Registered Securities of any series, Holders shall have the option,
subject to paragraphs (d) and (e) below, to receive payments of principal of, premium, if any, or interest, if any, on such Registered
Securities in any of the currencies or currency units which may be designated for such election by delivering to the Trustee (or
the applicable Paying Agent) a written election with signature guarantees and in the applicable form established pursuant to Section
3.1, not later than the close of business on the Election Date immediately preceding the applicable payment date. If a Holder
so elects to receive such payments in any such currency or currency unit, such election will remain in effect for such Holder
or any transferee of such Holder until changed by such Holder or such transferee by written notice to the Trustee (or any applicable
Paying Agent) for such series of Registered Securities (but any such change must be made not later than the close of business
on the Election Date immediately preceding the next payment date to be effective for the payment to be made on such payment date,
and no such change of election may be made with respect to payments to be made on any Registered Security of such series with
respect to which an Event of Default has occurred or with respect to which the Company has deposited funds pursuant to Article
IV or with respect to which a notice of redemption has been given by or on behalf of the Company). Any Holder of any such Registered
Security who shall not have delivered any such election to the Trustee (or any applicable Paying Agent) not later than the close
of business on the applicable Election Date will be paid the amount due on the applicable payment date in the relevant currency
or currency unit as provided in Section 3.11(a). The Trustee (or the applicable Paying Agent) shall notify the Company and the
Exchange Rate Agent as soon as practicable after the Election Date of the aggregate principal amount of Registered Securities
for which Holders have made such written election.

 

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(c)       If
the election referred to in paragraph (b) above has been provided for with respect to any Registered Securities of a series pursuant
to Section 3.1, then, unless otherwise specified pursuant to Section 3.1 with respect to any such Registered Securities, not later
than the fourth Business Day after the Election Date for each payment date for such Registered Securities, the Exchange Rate Agent
will deliver to the Company a written notice specifying, in the currency or currencies or currency unit or units in which Registered
Securities of such series are payable, the respective aggregate amounts of principal of, premium, if any, and interest, if any,
on such Registered Securities to be paid on such payment date, and specifying the amounts in such currency or currencies or currency
unit or units so payable in respect of such Registered Securities as to which the Holders of such Registered Securities denominated
in any currency or currencies or currency unit or units shall have elected to be paid in another currency or currency unit as
provided in paragraph (b) above. If the election referred to in paragraph (b) above has been provided for with respect to any
Registered Securities of a series pursuant to Section 3.1, and if at least one Holder has made such election, then, unless otherwise
specified pursuant to Section 3.1, on the second Business Day preceding such payment date the Company will deliver to the Trustee
(or the applicable Paying Agent) an Exchange Rate Officer’s Certificate in respect of the Dollar, Foreign Currency or Currencies
or other currency unit payments to be made on such payment date. Unless otherwise specified pursuant to Section 3.1, the Dollar,
Foreign Currency or Currencies or other currency unit amount receivable by Holders of Registered Securities who have elected payment
in a currency or currency unit as provided in paragraph (b) above shall be determined by the Company on the basis of the applicable
Market Exchange Rate in effect on the second Business Day (the “Valuation Date”) immediately preceding each payment
date, and such determination shall be conclusive and binding for all purposes, absent manifest error.

 

(d)       If
a Conversion Event occurs with respect to a Foreign Currency or any other currency unit in which Securities of any series are
denominated or payable otherwise than pursuant to an election provided for pursuant to paragraph (b) above, then, unless otherwise
specified pursuant to Section 3.1, with respect to each date for the payment of principal of, premium, if any, and interest, if
any, on the applicable Securities denominated or payable in such Foreign Currency or such other currency unit occurring after
the last date on which such Foreign Currency or such other currency unit was used (the “Conversion Date”), the Dollar
shall be the currency of payment for use on each such payment date (but such Foreign Currency or such other currency unit that
was previously the currency of payment shall, at the Company’s election, resume being the currency of payment on the first
such payment date preceded by 15 Business Days during which the circumstances which gave rise to the Dollar becoming such currency
of payment no longer prevail). Unless otherwise specified pursuant to Section 3.1, the Dollar amount to be paid by the Company
to the Trustee or any applicable Paying Agent and by the Trustee or any applicable Paying Agent to the Holders of such Securities
with respect to such payment date shall be, in the case of a Foreign Currency other than a currency unit, the Dollar Equivalent
of the Foreign Currency or, in the case of a Foreign Currency that is a currency unit, the Dollar Equivalent of the Currency Unit,
in each case as determined by the Exchange Rate Agent in the manner provided in paragraph (f) or (g) below.

 

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(e)       Unless
otherwise specified pursuant to Section 3.1, if the Holder of a Registered Security of a series denominated in any currency or
currency unit shall have elected to be paid in another currency or currency unit or in other currencies as provided in paragraph
(b) above, and (i) a Conversion Event occurs with respect to any such elected currency or currency unit, such Holder shall receive
payment in the currency or currency unit in which payment would have been made in the absence of such election and (ii) if a Conversion
Event occurs with respect to the currency or currency unit in which payment would have been made in the absence of such election,
such Holder shall receive payment in Dollars as provided in paragraph (d) of this Section 3.11 (but, subject to any contravening
valid election pursuant to paragraph (b) above, the elected payment currency or currency unit, in the case of the circumstances
described in clause (i) above, or the payment currency or currency unit in the absence of such election, in the case of the circumstances
described in clause (ii) above, shall, at the Company’s election, resume being the currency or currency unit of payment
with respect to Holders who have so elected, but only with respect to payments on payment dates preceded by 15 Business Days during
which the circumstances which gave rise to such currency or currency unit, in the case of the circumstances described in clause
(i) above, or the Dollar, in the case of the circumstances described in clause (ii) above, becoming the currency or currency unit,
as applicable, of payment, no longer prevail).

 

(f)       The
“Dollar Equivalent of the Foreign Currency” shall be determined by the Exchange Rate Agent and shall be obtained for
each subsequent payment date by the Exchange Rate Agent by converting the specified Foreign Currency into Dollars at the Market
Exchange Rate on the Conversion Date.

 

(g)       The
“Dollar Equivalent of the Currency Unit” shall be determined by the Exchange Rate Agent and, subject to the provisions
of paragraph (h) below, shall be the sum of each amount obtained by converting the Specified Amount of each Component Currency
(as each such term is defined in paragraph (h) below) into Dollars at the Market Exchange Rate for such Component Currency on
the Valuation Date with respect to each payment.

 

(h)       For
purposes of this Section 3.11, the following terms shall have the following meanings:

 

A
“Component Currency” shall mean any currency which, on the Conversion Date, was a component currency of the relevant
currency unit.

 

“Conversion
Event” shall mean the cessation of use of (i) a Foreign Currency both by the government of the country which issued such
currency and for the settlement of transactions by a central bank or other public institutions of or within the international
banking community, or (ii) any currency unit for the purposes for which it was established.

 

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“Election
Date” shall mean the Regular Record Date for the applicable series of Registered Securities as specified pursuant to Section
3.1 by which the written election referred to in Section 3.11(b) may be made.

 

“Exchange
Rate Agent”, when used with respect to Securities of or within any series, shall mean, unless otherwise specified with respect
to such series of Securities pursuant to Section 3.1, a New York Clearing House bank designated pursuant to Section 3.1 or Section
3.12.

 

“Exchange
Rate Officer’s Certificate” shall mean a certificate setting forth (i) the applicable Market Exchange Rate or the
applicable bid quotation and (ii) the Dollar or Foreign Currency amounts of principal (and premium, if any) and interest, if any
(on an aggregate basis and on the basis of a Security having the lowest denomination principal amount in the relevant currency
or currency unit), payable with respect to a Security of any series on the basis of such Market Exchange Rate or the applicable
bid quotation, signed by the President, the Chief Executive Officer, the Chief Financial Officer, any Vice President, the Treasurer,
or any Assistant Treasurer of the Company.

 

“Market
Exchange Rate” shall mean, unless otherwise specified with respect to Securities of any series pursuant to Section 3.1,
as of any date of determination, (i) for any conversion involving a currency unit on the one hand and Dollars or any Foreign Currency
on the other, the exchange rate between the relevant currency unit and Dollars or such Foreign Currency calculated by the method
specified pursuant to Section 3.1 for the Securities of the relevant series, (ii) for any conversion of Dollars into any Foreign
Currency, the noon buying rate for such Foreign Currency for cable transfers quoted in New York City as certified for customs
purposes by the Federal Reserve Bank of New York and (iii) for any conversion of one Foreign Currency into Dollars or another
Foreign Currency, the spot rate at noon local time in the relevant market at which, in accordance with normal banking procedures,
the Dollars or Foreign Currency into which conversion is being made could be purchased with the Foreign Currency from which conversion
is being made from major banks located in New York City, London or any other principal market for Dollars or such purchased Foreign
Currency, in each case determined by the Exchange Rate Agent. Unless otherwise specified with respect to Securities of any series
pursuant to Section 3.1, in the event of the unavailability of any of the exchange rates provided for in the foregoing clauses
(i), (ii) and (iii), the Exchange Rate Agent shall use, in its sole discretion and without liability on its part, such quotation
of the Federal Reserve Bank of New York as of the most recent available date, or quotations from one or more major banks in New
York City, London or other principal market for such currency or currency unit in question (which may include any such bank acting
as Trustee under this Indenture), or such other quotations as the Exchange Rate Agent shall deem appropriate. Unless otherwise
specified by the Exchange Rate Agent, if there is more than one market for dealing in any currency or currency unit by reason
of foreign exchange regulations or otherwise, the market to be used in respect of such currency or currency unit shall be that
upon which a nonresident issuer of securities designated in such currency or currency unit would purchase such currency or currency
unit in order to make payments in respect of such securities.

 

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A
“Specified Amount” of a Component Currency shall mean the number of units of such Component Currency or fractions
thereof which such Component Currency represented in the relevant currency unit on the Conversion Date. If after the Conversion
Date the official unit of any Component Currency is altered by way of combination or subdivision, the Specified Amount of such
Component Currency shall be divided or multiplied in the same proportion. If after the Conversion Date two or more Component Currencies
are consolidated into a single currency, the respective Specified Amounts of such Component Currencies shall be replaced by an
amount in such single currency equal to the sum of the respective Specified Amounts of such consolidated Component Currencies
expressed in such single currency, and such amount shall thereafter be a Specified Amount and such single currency shall thereafter
be a Component Currency. If after the Conversion Date any Component Currency shall be divided into two or more currencies, the
Specified Amount of such Component Currency shall be replaced by specified amounts of such two or more currencies, the sum of
which, at the Market Exchange Rate of such two or more currencies on the date of such replacement, shall be equal to the Specified
Amount of such former Component Currency and such amounts shall thereafter be Specified Amounts and such currencies shall thereafter
be Component Currencies. If, after the Conversion Date of the relevant currency unit, a Conversion Event (other than any event
referred to above in this definition of “Specified Amount”) occurs with respect to any Component Currency of such
currency unit and is continuing on the applicable Valuation Date, the Specified Amount of such Component Currency shall, for purposes
of calculating the Dollar Equivalent of the Currency Unit, be converted into Dollars at the Market Exchange Rate in effect on
the Conversion Date of such Component Currency.

 

All
decisions and determinations of the Exchange Rate Agent regarding the Dollar Equivalent of the Foreign Currency, the Dollar Equivalent
of the Currency Unit, the Market Exchange Rate and changes in the Specified Amounts as specified above with respect to Securities
of any series shall be in its sole discretion and shall, in the absence of manifest error, be conclusive for all purposes and
irrevocably binding upon the Company, the Trustee (and any applicable Paying Agent) and all Holders of Securities of such series
denominated or payable in the relevant currency, currencies or currency units. The Exchange Rate Agent shall promptly give written
notice to the Company and the Trustee of any such decision or determination.

 

In
the event that the Company determines in good faith that a Conversion Event has occurred with respect to a Foreign Currency, the
Company will promptly give written notice thereof to the Trustee (or any applicable Paying Agent) and to the Exchange Rate Agent
(and the Trustee (or such Paying Agent) will promptly thereafter give notice in the manner provided in Section 1.6 to the affected
Holders) specifying the Conversion Date. In the event the Company so determines that a Conversion Event has occurred with respect
to any currency unit in which Securities of a series are denominated or payable, the Company will promptly give written notice
thereof to the Trustee (or any applicable Paying Agent) and to the Exchange Rate Agent (and the Trustee (or such Paying Agent)
will promptly thereafter give notice in the manner provided in Section 1.6 to the affected Holders) specifying the Conversion
Date and the Specified Amount of each Component Currency on the Conversion Date. In the event the Company determines in good faith
that any subsequent change in any Component Currency as set forth in the definition of Specified Amount above has occurred, the
Company will similarly give written notice to the Trustee (or any applicable Paying Agent) and to the Exchange Rate Agent.

 

The
Trustee of the appropriate series of Securities shall be fully justified and protected in relying and acting upon information
received by it from the Company and the Exchange Rate Agent and shall not otherwise have any duty or obligation to determine the
accuracy or validity of such information independent of the Company or the Exchange Rate Agent.

 

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Section
3.12. APPOINTMENT AND RESIGNATION OF EXCHANGE RATE AGENT. (a) Unless otherwise specified pursuant to Section 3.1, if and so long
as the Securities of any series (i) are denominated in a currency or currency unit other than Dollars or (ii) may be payable in
a currency or currency unit other than Dollars, or so long as it is required under any other provision of this Indenture, then
the Company will maintain with respect to each such series of Securities, or as so required, at least one Exchange Rate Agent.
The Company will cause the Exchange Rate Agent to make the necessary foreign exchange determinations at the time and in the manner
specified pursuant to Section 3.11 for the purpose of determining the applicable rate of exchange and, if applicable, for the
purpose of converting the issued currency or currencies or currency unit or units into the applicable payment currency or currency
unit for the payment of principal, premium, if any, and interest, if any, pursuant to Section 3.11.

 

(b)       No
resignation of the Exchange Rate Agent and no appointment of a successor Exchange Rate Agent pursuant to this Section shall become
effective until the acceptance of appointment by the successor Exchange Rate Agent as evidenced by a written instrument delivered
to the Company and the Trustee of the appropriate series of Securities accepting such appointment executed by the successor Exchange
Rate Agent.

 

(c)       If
the Exchange Rate Agent shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of the
Exchange Rate Agent for any cause, with respect to the Securities of one or more series, the Company shall promptly appoint a
successor Exchange Rate Agent or Exchange Rate Agents with respect to the Securities of that or those series (it being understood
that any such successor Exchange Rate Agent may be appointed with respect to the Securities of one or more or all of such series
and that, unless otherwise specified pursuant to Section 3.1, at any time there shall only be one Exchange Rate Agent with respect
to the Securities of any particular series that are originally issued by the Company on the same date and that are initially denominated
and/or payable in the same currency or currencies or currency unit or units).

 

Section
3.13. WIRE TRANSFERS. Notwithstanding any other provisions to the contrary in this Indenture, the Company may make any payment
of monies required to be deposited with the Trustee on account of principal of, or premium, if any, or interest on, Securities
of any series (whether pursuant to optional or mandatory redemption payments, interest payment or otherwise) by wire transfer
and immediately available funds to an account designated by the Trustee on or before the date and time such monies are to be paid
to the Holders of the Security of such series in accordance with the terms hereof.

 

Section
3.14. CUSIP NUMBERS AND ISINS. The Company in issuing Securities may use “CUSIP” numbers or “ISINs”, and
if so, the Trustee may use the CUSIP numbers or ISINs in notices of redemption or exchange as a convenience to Holders; provided,
however, that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP number or
ISIN printed in the notice or on the Securities, that reliance may be placed only on the other identification numbers printed
on the Securities, and any such redemption or exchange shall not be affected by any defect or omission of such CUSIP numbers or
ISINs. The Company will promptly notify the Trustee of any change in CUSIP numbers or ISINs known to an Officer of the Company.

 

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Article
IV

SATISFACTION, DISCHARGE AND DEFEASANCE 

 

Section
4.1.     TERMINATION OF COMPANY’S OBLIGATIONS UNDER THE INDENTURE. (a) This Indenture shall upon
Company Request cease to be of further effect with respect to Securities of or within any series (except as to any surviving rights
of registration of transfer or exchange of such Securities and replacement of such Securities which may have been lost, stolen
or mutilated as herein expressly provided for) and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture with respect to such Securities when

 

(1)         either

 

(A)       all
such Securities previously authenticated and delivered (other than (i) such Securities which have been destroyed, lost or stolen
and which have been replaced or paid as provided in Section 3.6 and (ii) such Securities for whose payment money has theretofore
been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from
such trust, as provided in Section 9.3) have been delivered to the Trustee for cancellation; or

 

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

 

(i)          have
become due and payable, or

 

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

 

(iii)        if
redeemable at the option of the Company, are to be called for redemption within one year under arrangements satisfactory to the
Trustee for giving of notice of redemption, and the Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited
or caused to be deposited with the Trustee as trust funds in trust for the purpose an amount in the currency or currencies or
currency unit or units in which the Securities of such series are payable, sufficient to pay and discharge the entire indebtedness
on such Securities not theretofore delivered to the Trustee for cancellation, for principal, premium, if any, and interest, with
respect thereto, to the date of such deposit (in the case of any such Securities which have become due and payable) or to the
Stated Maturity or Redemption Date, as the case may be;

 

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

 

(3)         the
Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions
precedent herein provided for relating to the satisfaction and discharge of this Indenture as to such series have been complied
with.

 

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Notwithstanding
the satisfaction and discharge of this Indenture, the obligation of the Company to the Trustee and any predecessor Trustee under
Section 6.8 and the obligations of the Company to any Authenticating Agent under Section 6.13 shall survive until the Securities
of the discharged series have been paid in full, and, if money shall have been deposited with the Trustee pursuant to subclause
(B) of clause (1) of this Section, the obligations of the Trustee under Section 4.2 and the last paragraph of Section 9.3 shall
survive in accordance with the terms of such Sections.

 

Section
4.2.     APPLICATION OF TRUST FUNDS. Subject to the provisions of the last paragraph of Section 9.3,
all money deposited with the Trustee pursuant to Section 4.1 shall be held in trust and applied by it, in accordance with the
provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal, premium, if any
and any interest for whose payment such money has been deposited with or received by the Trustee, but such money need not be segregated
from other funds except to the extent required by law.

 

Section
4.3.     APPLICABILITY OF DEFEASANCE PROVISIONS; COMPANY’S OPTION TO EFFECT DEFEASANCE OR COVENANT
DEFEASANCE. Unless pursuant to Section 3.1 provision is made to exclude with respect to the Securities of a particular series
either or both of (i) defeasance of the Securities of or within such series under Section 4.4 or (ii) covenant defeasance of the
Securities of or within such series under Section 4.5, then, in addition to the rights of the Company pursuant to Section 4.1
above, the provisions of such Section or Sections, as the case may be, together with the provisions of Sections 4.6 through 4.9
inclusive, with such modifications thereto as may be specified pursuant to Section 3.1 with respect to any Securities of such
series, shall be applicable to such Securities and the Company may at its option, at any time, with respect to such Securities
elect to have Section 4.4 (if applicable) or Section 4.5 (if applicable) be applied to such Outstanding Securities upon compliance
with the conditions set forth below in this Article.

 

Section
4.4.     DEFEASANCE AND DISCHARGE. Upon the Company’s exercise of the option specified in Section
4.3 applicable to this Section with respect to the Securities of or within a series, the Company shall be deemed to have been
discharged from its obligations with respect to such Securities on the date the conditions set forth in Section 4.6 are satisfied
(hereinafter, a “defeasance”). For this purpose, such defeasance means that the Company shall be deemed to have paid
and discharged the entire indebtedness represented by such Securities which Securities shall thereafter be deemed to be “Outstanding”
only for the purposes of Section 4.7 and the other Sections of this Indenture referred to in clause (ii) of this Section, and
to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned
(and the Trustee, at the expense of the Company, shall on Company Order execute proper instruments acknowledging the same), except
the following which shall survive until otherwise terminated or discharged hereunder: (i) the rights of Holders of such Securities
to receive, solely from the trust funds described in Section 4.6(a) and as more fully set forth in such Section, payments in respect
of the principal of, premium, if any, and interest, if any, on such Securities when such payments are due; (ii) the Company’s
obligations with respect to such Securities under Sections 3.5, 3.6, 9.2 and 9.3 and with respect to the payment of additional
amounts, if any, payable with respect to such Securities as specified pursuant to Section 3.1(b) (18); (iii) the rights, powers,
trusts, duties, immunities and indemnities of the Trustee hereunder and (iv) this Article IV. Subject to compliance with this
Article IV, the Company may exercise its option under this Section notwithstanding the prior exercise of its option under Section
4.5 with respect to such Securities. Following a defeasance, payment of such Securities may not be accelerated because of an Event
of Default.

 

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Section
4.5.     COVENANT DEFEASANCE. Upon the Company’s exercise of the option specified in Section 4.3
applicable to this Section with respect to any Securities of or within a series, the Company shall be released from its obligations
under Sections 7.1, 9.4 and 9.5, and, if specified pursuant to Section 3.1, its obligations under any other covenant, with respect
to such Securities on and after the date the conditions set forth in Section 4.6 are satisfied (hereinafter, “covenant defeasance”),
and such Securities shall thereafter be deemed to be not “Outstanding” for the purposes of any direction, waiver,
consent or declaration or Act of Holders (and the consequences of any thereof) in connection with Sections 7.1, 9.4 and 9.5, or
such other specified covenant, and the operation of Sections 5.1(3) and 5.1(6), but shall continue to be deemed “Outstanding”
for all other purposes hereunder. For this purpose, such covenant defeasance means that, with respect to such Securities, the
Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such
Section or such other covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such Section
or such other covenant or by reason of reference in any such Section or such other covenant to any other provision herein or in
any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 5.1(3) or 5.1(6)
or otherwise, as the case may be, but, except as specified above, the remainder of this Indenture and such Securities shall be
unaffected thereby.

 

Section
4.6.     CONDITIONS TO DEFEASANCE OR COVENANT DEFEASANCE. The following shall be the conditions to application
of Section 4.4 or Section 4.5 to any Securities of or within a series:

 

(a)    
    The Company shall have deposited or caused to be deposited irrevocably with the Trustee (or another trustee
satisfying the requirements of Section 6.11 who shall agree to comply with, and shall be entitled to the benefits of, the provisions
of Sections 4.3 through 4.9 inclusive and the last paragraph of Section 9.3 applicable to the Trustee, for purposes of such Sections
also a “Trustee”) as trust funds in trust for the purpose of making the payments referred to in clauses (x) and (y)
of this Section 4.6(a), with instructions to the Trustee as to the application thereof, (A) money in an amount (in such currency,
currencies or currency unit in which such Securities are then specified as payable at Maturity), or (B) Government Obligations
which through the payment of interest and principal in respect thereof in accordance with their terms will provide, not later
than one day before the due date of any payment referred to in clause (x) or (y) of this Section 4.6(a), money in an amount or
(C) a combination thereof in an amount, sufficient, in the determination of a nationally recognized independent accounting or
investment banking firm expressed in a written certification thereof delivered to the Trustee in the case of clauses (B) or (C),
to pay and discharge, and which shall be applied by the Trustee to pay and discharge, (x) the principal of, premium, if any, and
interest, if any, on such Securities on the Maturity of such principal or installment of principal or interest and (y) any mandatory
sinking fund payments applicable to such Securities on the day on which such payments are due and payable in accordance with the
terms of this Indenture and such Securities.

 

     35

     

    

 

Before
such a deposit, the Company may make arrangements satisfactory to the Trustee for the redemption of such Securities at a future
date or dates in accordance with Article X which shall be given effect in applying the foregoing.

 

(b)         The
deposit pursuant to subsection (a) above shall not result in or constitute a Default or Event of Default under this Indenture
or result in a breach or violation of, or constitute a default under, any other material agreement or instrument to which the
Company is a party or by which it is bound.

 

(c)         In
the case of an election under Section 4.4, no Default or Event of Default under Section 5.1(4) or 5.1(5) with respect to such
Securities shall have occurred and be continuing during the period commencing on the date of such deposit and ending on the 91st
day after such date (it being understood that this condition shall not be deemed satisfied until the expiration of such period).

 

(d)         In
the case of an election under Section 4.4, the Company shall have delivered to the Trustee an Officer’s Certificate and
an Opinion of Counsel to the effect that (i) the Company has received from, or there has been published by, the Internal Revenue
Service a ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable Federal income
tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the Holders of such Securities
will not recognize income, gain or loss for Federal income tax purposes as a result of such defeasance and will be subject to
Federal income tax on the same amounts and in the same manner and at the same times, as would have been the case if such deposit,
defeasance and discharge had not occurred.

 

(e)         In
the case of an election under Section 4.5, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that the Holders of such Securities will not recognize income, gain or loss for Federal income tax purposes as a result of such
covenant defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as
would have been the case if such covenant defeasance had not occurred.

 

(f)          The
Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions
precedent to the defeasance under Section 4.4 or the covenant defeasance under Section 4.5 (as the case may be) have been complied
with and an Opinion of Counsel to the effect that either (i) as a result of a deposit pursuant to subsection (a) above and the
related exercise of the Company’s option under Section 4.4 or Section 4.5 (as the case may be), registration is not required
under the Investment Company Act of 1940, as amended, by the Company, with respect to the trust funds representing such deposit
or by the trustee for such trust funds or (ii) all necessary registrations under said act have been effected.

 

(g)         Such
defeasance or covenant defeasance shall be effected in compliance with any additional or substitute terms, conditions or limitations
which may be imposed on the Company in connection therewith as contemplated by Section 3.1.

 

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Section
4.7.     DEPOSITED MONEY AND GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST. Subject to the provisions of
the last paragraph of Section 9.3, all money and Government Obligations (or other property as may be provided pursuant to Section
3.1) (including the proceeds thereof) deposited with the Trustee pursuant to Section 4.6 in respect of any Securities of any series
shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to
the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee
may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of principal, premium, if
any, and interest, if any, but such money need not be segregated from other funds except to the extent required by law.

 

If
specified with respect to a Security of any series pursuant to Section 3.1, if, after a deposit referred to in Section 4.6(a)
has been made, (i) the Holder of such Security in respect of which such deposit was made is entitled to, and does, elect pursuant
to Section 3.11(b) or the terms of such Security to receive payment in a currency or currency unit other than that in which the
deposit pursuant to Section 4.6(a) has been made in respect of such Security, or (ii) a Conversion Event occurs as contemplated
in Section 3.11(d) or 3.11(e) or by the terms of the Security in respect of which the deposit pursuant to Section 4.6(a) has been
made, the indebtedness represented by such Security shall be deemed to have been, and will be, fully discharged and satisfied
through the payment of the principal of, premium, if any, and interest, if any, on such Security as the same becomes due out of
the proceeds yielded by converting (from time to time as specified below in the case of any such election) the amount or other
property deposited in respect of such Security into the currency or currency unit in which such Security becomes payable as a
result of such election or Conversion Event based on the applicable Market Exchange Rate for such currency or currency unit in
effect on the second Business Day prior to each payment date, except, with respect to a Conversion Event, for such currency or
currency unit in effect (as nearly as feasible) at the time of the Conversion Event.

 

Section
4.8.     REPAYMENT TO COMPANY. The Trustee (and any Paying Agent) shall promptly pay to the Company upon
Company Request any excess money or securities held by them at any time.

 

Section
4.9.     INDEMNITY FOR GOVERNMENT OBLIGATIONS. The Company shall pay, and shall indemnify the Trustee
against, any tax, fee or other charge imposed on or assessed against Government Obligations deposited pursuant to this Article
or the principal and interest received on such Government Obligations, other than any such tax, fee or other charge that by law
is for the account of the Holders of the Securities subject to defeasance or covenant defeasance pursuant to this Article.

 

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Article
V

DEFAULTS AND REMEDIES 

 

Section
5.1.     EVENTS OF DEFAULT. An “Event of Default” occurs with respect to the Securities of
any series, except to the extent such event is specifically deleted or modified by the applicable Board Resolutions or supplemental
indenture as contemplated by Section 3.1 for the Securities of such series, if (whatever the reason for such Event of Default
and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order
of any court or any order, rule or regulation of any administrative or governmental body):

 

(1)         the
Company defaults in the payment of interest on any Security of that series or any additional amount payable with respect to any
Security of that series as specified pursuant to Section 3.1(b)(17) when the same becomes due and payable and such default continues
for a period of 30 days;

 

(2)         the
Company defaults in the payment of the principal of or any premium on any Security of that series when the same becomes due and
payable at its Maturity or on redemption or otherwise, or in the payment of a mandatory sinking fund payment when and as due by
the terms of the Securities of that series;

 

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

 

(4)         the
Company, pursuant to or within the meaning of any Bankruptcy Law, (A) commences a voluntary case, (B) consents to the entry of
an order for relief against it in an involuntary case, (C) consents to the appointment of a Custodian of it or for all or substantially
all of its property, or (D) makes a general assignment for the benefit of its creditors;

 

(5)         a
court of competent jurisdiction enters an order or decree under any Bankruptcy Law that (A) is for relief against the Company
in an involuntary case, (B) appoints a Custodian of the Company or for all or substantially all of its property, or (C) orders
the liquidation of the Company; and the order or decree remains unstayed and in effect for 90 days; or

 

(6)         any
other Event of Default provided as contemplated by Section 3.1 with respect to Securities of that series.

 

The
term “Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors. The
term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

Section
5.2.     ACCELERATION; RESCISSION AND ANNULMENT. If an Event of Default with respect to the Securities
of any series at the time Outstanding occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal
amount of all of the Outstanding Securities of that series, by written notice to the Company (and, if given by the Holders, to
the Trustee), may declare the principal (or, if the Securities of that series are Original Issue Discount Securities or Indexed
Securities, such portion of the principal amount or other amount as may be specified in the terms of that series) of all the Securities
of that series to be due and payable and upon any such declaration such principal (or, in the case of Original Issue Discount
Securities or Indexed Securities, such specified amount) shall be immediately due and payable.

 

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At
any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment
or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of
a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Trustee, may rescind
and annul such declaration and its consequences if all existing Defaults and Events of Default with respect to Securities of that
series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration
of acceleration, have been cured or waived as provided in Section 5.7. Upon any such rescission, the parties hereto shall be restored
respectively to their several positions and rights hereunder, and all rights, remedies and powers of the parties hereto shall
continue as though no acceleration had occurred.

 

Section
5.3.     COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE. The Company covenants that
if:

 

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

 

(2)         default
is made in the payment of the principal of (or premium, if any, on) any Security of any series at the Maturity thereof and such
default continues for a period of 10 days, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders
of such Securities, the whole amount then due and payable on such Securities for principal, premium, if any, and interest and,
to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal, premium, if any,
and on any overdue interest, at the rate or rates prescribed therefor in such Securities.

 

If
the Company fails to pay such principal, premium, if any, and interest amounts forthwith upon such demand, the Trustee, in its
own name and as trustee of an express trust, may institute a judicial proceeding for the collection of such principal, premium,
if any, and interest amounts so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the
same against the Company.

 

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

 

Section
5.4.     TRUSTEE MAY FILE PROOFS OF CLAIM. The Trustee may file such proofs of claim and other papers or documents
as may be necessary or advisable in order to have the claims of the Trustee and the Holders of Securities of each series allowed
in any judicial proceedings relating to the Company, its creditors or its property.

 

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Section
5.5.     TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF SECURITIES. All rights of action and claims
under this Indenture or the Securities of any series may be prosecuted and enforced by the Trustee, in its own name and as trustee
of an express trust, without the possession of any of the Securities of such series or the production thereof in any proceeding
relating thereto.

 

Section
5.6.     DELAY OR OMISSION NOT WAIVER. No delay or omission by the Trustee or any Holder of any Securities
to exercise any right or remedy accruing upon an Event of Default shall impair any such right or remedy or constitute a waiver
of or acquiescence in any such Event of Default.

 

Section
5.7.     WAIVER OF PAST DEFAULTS. The Holders of a majority in aggregate principal amount of Outstanding
Securities of any series by notice to the Trustee may waive on behalf of the Holders of all Securities of such series a past Default
or Event of Default with respect to that series and its consequences except a Default or Event of Default (i) in the payment of
the principal of, premium, if any, or interest on any Security of such series or (ii) in respect of a covenant or provision hereof
which pursuant to Section 8.2 cannot be amended or modified without the consent of the Holder of each Outstanding Security of
such series adversely affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom
shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or
other Default or Event of Default or impair any right consequent thereon. In case of any such waiver, the Company, the Trustee
and the Holders shall be restored to their former positions and rights hereunder and under the Securities of such series, respectively.

 

Section
5.8.     CONTROL BY MAJORITY. The Holders of a majority in aggregate principal amount of the Outstanding
Securities of each series affected (with each such series voting as a class) shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it with
respect to Securities of that series; provided, however, that (i) the Trustee may refuse to follow any direction that conflicts
with law or this Indenture, (ii) the Trustee may refuse to follow any direction that is unduly prejudicial to the rights of the
Holders of Securities of such series not consenting, or that would in the good faith judgment of the Trustee have a substantial
likelihood of involving the Trustee in personal liability and (iii) the Trustee may take any other action deemed proper by the
Trustee which is not inconsistent with such direction.

 

Section
5.9.     LIMITATION ON SUITS BY HOLDERS. No Holder of any Security of any series shall have any right
to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee,
or for any other remedy hereunder, unless:

 

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

 

(2)         the
Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series have made a written request
to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

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(3)         such
Holder or Holders have offered to the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense to
be, or which may be, incurred by the Trustee in pursuing the remedy;

 

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

 

(5)        during
such 60 day period, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series have
not given to the Trustee a direction inconsistent with such written request.

 

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

 

Section
5.10.   RIGHTS OF HOLDERS TO RECEIVE PAYMENT. Notwithstanding any other provision of this Indenture, but subject
to Section 9.2, the right of any Holder of a Security to receive payment of principal of, premium, if any, and, subject to Sections
3.5 and 3.7, interest on the Security of such Holder, on or after the respective due dates expressed in the Security of such Holder
(or, in case of redemption, on the redemption dates), or to bring suit for the enforcement of any such payment on or after such
respective dates, shall not be impaired or affected without the consent of such Holder.

 

Section
5.11.   APPLICATION OF MONEY COLLECTED. If the Trustee collects any money pursuant to this Article with respect
to a particular series of Securities, it shall pay out the money in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such money on account of principal, premium, if any, or interest, upon presentation of the
Securities of the applicable series and the notation thereon of the payment if only partially paid and upon surrender thereof
if fully paid:

 

First:
to the Trustee for amounts due under Section 6.8 in connection with such series of Securities in respect of which money or other
property is collected;

 

Second:
Subject to the terms of any subordination entered into as contemplated by Section 3.1(b) (27) hereof, to Holders of Securities
of such series in respect of which or for the benefit of which such money has been collected for amounts due and unpaid on such
Securities for principal of, premium, if any, and interest, ratably, without preference or priority of any kind, according to
the amounts due and payable on such Securities for principal, premium, if any, and interest, respectively; and

 

Third:
The balance, if any, to the Company.

 

The
Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 5.11. At least 15 days before
such record date, the Trustee shall mail to each Holder and the Company a notice that states the record date, the payment date
and the amount to be paid.

 

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Unless
otherwise specified in a supplemental indenture with respect to a series of Securities, in any case where Securities of a series
are outstanding which are denominated in more than one currency, or in a composite currency and at least one other currency, and
the Trustee is directed to make ratable payments under this Section to Holders of Securities of such series, the Trustee shall
calculate the amount of such payments as follows: as of the day the Trustee collects an amount under this Article, the Trustee
shall, (i) as to each Holder of a Security of such series to whom an amount is due and payable under this Section which is denominated
in a foreign currency or a composite currency, determine that amount of Dollars that would be obtained for the amount owing such
Holder, using the rate of exchange at which in accordance with normal banking procedures the Trustee could purchase in Dollars
as of such day with such amount owing, (ii) calculate the sum of all Dollar amounts determined under (i) and add thereto any amounts
due and payable in Dollars; and (iii) using the individual amounts determined in (i) or any individual amounts due and payable
in Dollars, as the case may be, as a numerator and the sum calculated in (ii) as a denominator, calculate as to each Holder of
a Security of such series to whom an amount is owed under this Section the fraction of the amount collected under this Article
payable to such Holder. Any expenses incurred by the Trustee in actually converting amounts owing Holders of Securities of a series
denominated in a currency or composite currency other than that in which any amount is collected under this Article shall be likewise
(in accordance with this paragraph) be borne ratably by all Holders of Securities of such series to whom amounts are payable under
this Section.

 

Unless
otherwise specified in the supplemental indenture with respect to a series of Securities, to the fullest extent allowed under
applicable law, if for the purpose of obtaining judgment against the Company in any court it is necessary to convert the sum due
in respect of the principal of, or any premium or interest on the Securities of any series (the “Required Currency”)
into a currency in which judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the
rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency
with the Judgment Currency on the New York Business Day preceding that on which final judgment is given. The Company shall not
be liable for any shortfall in payments to Holders of Securities of a series under this Section caused by a change in exchange
rates between the time the amount of a judgment against it is calculated as above and the time the Trustee converts the Judgment
Currency into the Required Currency to make payments under this Section to Holders of such Securities, but payment of such judgment
shall discharge all amounts owed by the Company on the claim or claims underlying such judgment.

 

Section
5.12.   RESTORATION OF RIGHTS AND REMEDIES. If the Trustee or any Holder has instituted any proceeding to enforce
any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined
adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the
Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter
all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

 

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Section
5.13.   RIGHTS AND REMEDIES CUMULATIVE. Except as otherwise provided in Section 5.9 or with respect to the replacement
or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of Section 3.6, no right or remedy herein
conferred upon or reserved to the Trustee or the Holders is intended to be exclusive of any other right or remedy, and every right
and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder
or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Article
VI

THE TRUSTEE 

 

Section
6.1.     DUTIES AND RESPONSIBILITIES OF TRUSTEE; RELIANCE ON DOCUMENTS, OPINIONS, ETC. (a) The Trustee,
prior to the occurrence of an Event of Default and after the curing or waiver of all Events of Default that may have occurred,
undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In the event an Event
of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture,
and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in
the conduct of such person’s own affairs; provided that if an Event of Default occurs and is continuing, the Trustee will
be under no obligation to exercise any of the rights or powers under this Indenture at the request or direction of any of the
Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it in its reasonable discretion
against any loss, liability or expense that might be incurred by it in compliance with such request or direction.

 

No
provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent
failure to act or its own willful misconduct, except that:

 

(1)         prior
to the occurrence of an Event of Default and after the curing or waiving of all Events of Default that may have occurred:

 

(2)         the
duties and obligations of the Trustee shall be determined solely by the express provisions of this Indenture, and the Trustee
shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture
and no implied covenants or obligations shall be read into this Indenture against the Trustee; and

 

(3)         in
the absence of bad faith and willful misconduct on the part of the Trustee, the Trustee may conclusively rely, as to the truth
of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee
and conforming to the requirements of this Indenture; but, in the case of any such certificates or opinions that by any provisions
hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of any mathematical
calculations or other facts stated therein);

 

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(4)         the
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Officers of the Trustee,
unless it shall be proved that the Trustee was grossly negligent in ascertaining the pertinent facts;

 

(5)         the
Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the
direction of the Holders of not less than a majority of the aggregate principal amount of the Securities at the time outstanding
relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any
trust or power conferred upon the Trustee, under this Indenture;

 

(6)         whether
or not therein provided, every provision of this Indenture relating to the conduct or affecting the liability of, or affording
protection to, the Trustee shall be subject to the provisions of this clause (a) and clause (b) below;

 

(7)         the
Trustee shall not be liable in respect of any payment (as to the correctness of amount, entitlement to receive or any other matters
relating to payment) or notice effected by the Company or any Paying Agent or any records maintained by any co- Registrar with
respect to the Securities;

 

(8)         if
any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires notice to be
sent to the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event
occurred, unless a Responsible Officer of the Trustee had actual knowledge of such event;

 

(9)         in
the absence of written investment direction from the Company, all cash received by the Trustee shall be placed in a non-interest
bearing trust account, and in no event shall the Trustee be liable for the selection of investments or for investment losses incurred
thereon or for losses incurred as a result of the liquidation of any such investment prior to its maturity date or the failure
of the party directing such investments prior to its maturity date or the failure of the party directing such investment to provide
timely written investment direction, and the Trustee shall have no obligation to invest or reinvest any amounts held hereunder
in the absence of such written investment direction from the Company; and

 

(10)       in
the event that the Trustee is also acting as custodian, Registrar, Paying Agent, Conversion Agent or transfer agent hereunder,
the rights and protections afforded to the Trustee pursuant to this Article VI shall also be afforded to such custodian, Registrar,
Paying Agent, Conversion Agent or transfer agent.

 

None
of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal
or financial liability in the performance of any of its duties or in the exercise of any of its rights or powers. The Trustee
shall not be required to give any bond or surety in respect of the performance of its powers or duties hereunder. The Trustee
will be under no obligation to exercise any of its rights and powers under this Indenture at the request or direction of the Holders
unless such Holder has offered to the Trustee security or indemnity satisfactory to it in its reasonable discretion against any
loss, liability or expense.

 

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(b)         Except
as otherwise provided in ‎the foregoing clause (a) of this Section 6.1:

 

(1)         the
Trustee may conclusively rely and shall be fully protected in acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, consent, order, bond, note, coupon or other paper or document believed by it in good faith to
be genuine and to have been signed or presented by the proper party or parties;

 

(2)         any
request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate
(unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to the
Trustee by a copy thereof certified by the Corporate Secretary or an Assistant Secretary of the Company;

 

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

 

(4)         the
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document, but the Trustee,
in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee
shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises
of the Company, personally or by agent or attorney at the expense of the Company and shall incur no liability of any kind by reason
of such inquiry or investigation;

 

(5)         the
Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through a co-trustee,
agents, custodians, nominees or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part
of any agent, custodian, nominee or attorney appointed by it with due care hereunder;

 

(6)         the
permissive rights of the Trustee enumerated herein shall not be construed as duties;

 

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

 

(8)         the
Trustee shall not be responsible for monitoring the performance of other persons or for the failure of others to perform their
duties;

 

(9)         the
Holders will not direct the Trustee to take action contrary to this Indenture, the Securities or applicable law, and the Trustee
is not obligated to follow any instruction of the Holders that is contrary to this Indenture, the Securities or applicable law;

 

(10)       the
Trustee may request that the Company deliver an Officer’s Certificate setting forth the names of individuals and/or titles
of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may
be signed by any Person authorized to sign an Officers’ Certificate, including any Person specified as so authorized in
any such certificate previously delivered and not superseded;

 

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(11)       the
Trustee shall not be required to give any bond or surety in respect of the execution of the trusts and powers under this Indenture;

 

(12)       in
no event shall the Trustee be liable for any special, punitive, indirect or consequential loss or damage of any kind whatsoever
(including but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action;

 

(13)       the
Trustee shall not be charged with knowledge of any Default or Event of Default with respect to the Securities, unless either (1)
a Responsible Officer shall have actual knowledge of such Default or Event of Default or (2) written notice of such Default or
Event of Default shall have been given to the Trustee by the Company or actually received by a Responsible Officer at the Corporate
Trust Office of the Trustee from the Company, a Paying Agent, any Holder or any agent of any Holder, referencing this Indenture;

 

(14)       the
Trustee shall not be responsible or liable for any failure or delay in the performance of its obligations under this Indenture
arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation,
acts of God; earthquakes; fire; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots; interruptions;
loss or malfunction of utilities, computer (hardware or soft-ware) or communication services; accidents; labor disputes; and acts
of civil or military authorities and governmental action; and

 

(15)       neither
the Trustee nor any of its directors, officers, employees, agents or affiliates shall be responsible for nor have any duty to
monitor the performance or any action of the Company, or any of their respective directors, members, officers, agents, affiliates
or employee, nor shall it have any liability in connection with the malfeasance or nonfeasance by such party, nor shall the Trustee
be responsible for any inaccuracy in the information obtained from the Company or for any inaccuracy or omission in the records
which may result from such information or any failure by the Trustee to perform its duties as set forth herein as a result of
any inaccuracy or incompleteness.

 

Section
6.2.     TRUSTEE, PAYING AGENTS, CONVERSION AGENTS OR REGISTRAR MAY HOLD SECURITIES. The Trustee, any
Paying Agent, any Registrar or any other agent of the Company, in its individual or any other capacity, may become the owner or
pledgee of Securities and, subject to Sections 310(b) and 311 of the Trust Indenture Act, may otherwise deal with the Company,
an Affiliate or Subsidiary with the same rights it would have if it were not Trustee, Paying Agent, Registrar or such other agent.

 

Section
6.3.     MONIES TO BE HELD IN TRUST. Subject to the provisions of Section 4.8 and the last paragraph
of Section 9.3, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes
for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall
be under no liability for investment of or interest on any money received by it hereunder except as otherwise agreed with the
Company. Except for amounts deposited pursuant to Article IV, so long as no Event of Default shall have occurred and be continuing,
all interest allowed on any such moneys shall be paid from time to time to the Company upon a Company Order. The Trustee shall
not be obligated to take possession of any Common Stock, whether upon conversion or in connection with any discharge of this Indenture
pursuant hereto.

 

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Section
6.4.     NO RESPONSIBILITIES FOR RECITALS, ETC. The recitals contained herein and in the Securities (except
in the Trustee’s certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes
no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Securities, except that the Trustee represents and warrants that it is duly authorized to execute and deliver
this Indenture, authenticate the Securities and perform its obligations hereunder and thereunder; that the statements made by
it in a Statement of Eligibility and Qualification on Form T-1 supplied or to be supplied to the Company in connection with the
registration of any Securities are and at the time of delivery will be true and accurate; and that such Statement complies and
at the time of delivery will comply with the requirements of the Trust Indenture Act and the Securities Act, in each case, applicable
to such Statement. The Trustee shall not be accountable for the use or application by the Company of any Securities or the proceeds
of any Securities authenticated and delivered by the Trustee in conformity with the provisions of this Indenture.

 

Section
6.5.     NOTICE OF DEFAULTS. If a Default occurs and is continuing with respect to the Securities of
any series and if it is known to a Responsible Officer of the Trustee, the Trustee shall, within 90 days after it occurs, transmit,
in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, notice of all uncured Defaults known to
it; provided, however, that, except in the case of a Default in payment on the Securities of any series, the Trustee may withhold
the notice if and so long as a trust committee of Responsible Officers in good faith determines that withholding such notice is
in the interests of Holders of Securities of that series; provided, further, that in the case of any default or breach of the
character specified in Section 5.1(3) with respect to the Securities of such series, no such notice to Holders shall be given
until at least 90 days after the occurrence thereof.

 

Section
6.6.     REPORTS BY TRUSTEE TO HOLDERS. (a) Within 60 days after each May 15 of each year commencing
with the first May 15 after the first issuance of Securities of any series pursuant to this Indenture, the Trustee shall transmit
by mail to all Holders of Securities of such series as provided in Section 313(c) of the Trust Indenture Act a brief report dated
as of such May 15 if required by and in compliance with Section 313(a) of the Trust Indenture Act. A copy of each report shall,
at the time of such transmission to Holders, be filed by the Trustee with each stock exchange, if any, upon which the Securities
of any series are listed, with the Commission and with the Company. The Company will promptly notify the Trustee when the Securities
of any series are listed on any stock exchange and of any delisting thereof.

 

(b)         The
Trustee shall from time to time transmit by mail to all Holders of Securities as provided in Section 313(c) of the Trust Indenture
Act, such reports as are required to be filed pursuant to Section 313(b) of the Trust Indenture Act.

 

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Section
6.7.     SECURITY HOLDER LISTS. The Trustee shall preserve in as current a form as is reasonably practicable
the most recent list available to it of the names and addresses of Holders of Securities of each series. If the Trustee is not
the Registrar, the Company shall furnish to the Trustee semiannually on or before the last day of June and December in each year,
and at such other times as the Trustee may request in writing, a list, in such form and as of such date as the Trustee may reasonably
require, containing all the information in the possession or control of the Registrar, the Company or any of its Paying Agents
other than the Trustee as to the names and addresses of Holders of Securities of each such series.

 

Section
6.8.     COMPENSATION AND INDEMNITY. The Company covenants and agrees to pay to the Trustee from time
to time, and the Trustee shall be entitled to, compensation as agreed in writing between the Company and the Trustee for all services
rendered by it hereunder in any capacity (which shall not be limited by any provision of law in regard to the compensation of
a trustee of an express trust) as mutually agreed to in writing between the Trustee and the Company, and the Company will pay
or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances reasonably incurred or made
by the Trustee in accordance with any of the provisions of this Indenture in any capacity thereunder (including the reasonable
compensation and the expenses and disbursements of its agents and counsel and of all Persons not regularly in its employ and including
reasonable attorneys’ fees in connection with enforcement of its rights to indemnity herein) except any such expense, disbursement
or advance as shall have been caused by its gross negligence, willful misconduct or bad faith. The Company also covenants to indemnify
the Trustee in any capacity under this Indenture and any other document or transaction entered into in connection herewith and
its agents and any authenticating agent for, and to hold them harmless against, any loss, claim, damage, liability, fee, cost,
loss, tax, claim, action or expense incurred without gross negligence, willful misconduct or bad faith on the part of the Trustee,
its officers, directors, agents or employees, or such agent or authenticating agent, as the case may be, and arising out of or
in connection with the acceptance or administration of this Indenture or in any other capacity hereunder, including third-party
claims and claims involving the Company, and including the costs and expenses of defending themselves against any claim of liability
in the premises or enforcing this indemnity. The obligations of the Company under this Section 6.8 to compensate or indemnify
the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall be secured by a senior claim to
which the Securities of the applicable series are hereby made subordinate on all money or property held or collected by the Trustee,
except, subject to the effect of Section 5.11, funds held in trust herewith for the benefit of the Holders of particular Securities.
The Trustee’s right to receive payment of any amounts due under this Section 6.8 shall not be subordinate to any other liability
or indebtedness of the Company. The obligation of the Company under this Section 6.8 shall survive the satisfaction and discharge
of this Indenture and the earlier resignation or removal of the Trustee. The Company need not pay for any settlement made without
its consent, which consent shall not be unreasonably withheld. The indemnification provided in this Section 6.8 shall extend to
the officers, directors, agents and employees of the Trustee.

 

Without
prejudice to any other rights available to the Trustee under applicable law, when the Trustee and its agents and any Authenticating
Agent incur expenses or render services after an Event of Default specified in Section 5.1(4) or Section 5.1(5) occurs, the expenses
and the compensation for the services are intended to constitute expenses of administration under any bankruptcy, insolvency or
similar laws.

 

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Section
6.9.     SEPARATE TRUSTEE; REPLACEMENT OF TRUSTEE. (a) The Company may, but need not, appoint a separate
Trustee for any one or more series of Securities. The resignation or removal of the Trustee and the appointment of a successor
Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in Section 6.10.
In the event of an appointment of a separate Trustee for any one or more series of Securities, the allocation of responsibilities
between the separate Trustees shall be determined at that time.

 

(b)         The
Trustee may resign at any time with respect to the Securities of any one or more series by giving written notice thereof to the
Company. If the instrument of acceptance by a successor Trustee required by Section 6.10 shall not have been delivered to the
Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may (at the Company’s expense)
petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such
series.

 

(c)         The
Holders of a majority in aggregate principal amount of the Outstanding Securities of any series may remove the Trustee with respect
to any one or more series by so notifying the Trustee and the Company in writing and may appoint a successor Trustee for such
series with the Company’s consent.

 

If
an instrument of acceptance by a successor Trustee required by Section 6.10 shall not have been delivered to the Trustee within
30 days after the giving of such notice of removal, the Trustee being removed may petition any court of competent jurisdiction
for the appointment of a successor Trustee with respect to the Securities of such series.

 

(d)         If
at any time:

 

(1)         the
Trustee fails to comply with Section 310(b) of the Trust Indenture Act after written request therefor by the Company or by any
Holder who has been a bona fide Holder of a Security for at least six months, or

 

(2)         the
Trustee shall cease to be eligible under Section 6.11 hereof or Section 310(a) of the Trust Indenture Act and shall fail to resign
after written request therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for
at least six months; or

 

(3)         the
Trustee becomes incapable of acting, is adjudged a bankrupt or an insolvent or a receiver or public officer takes charge of the
Trustee or its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i)
the Company may remove the Trustee with respect to all Securities, or (ii) subject to Section 315(e) of the Trust Indenture Act,
any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly
situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to Securities of the series
held by such Holder and the appointment of a successor Trustee or Trustees.

 

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(e)         If
the Trustee resigns or is removed or becomes incapable of acting or if a vacancy exists in the office of Trustee for any reason,
with respect to Securities of one or more series, the Company shall promptly appoint a successor Trustee with respect to the Securities
of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of
one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular
series) and shall comply with the applicable requirements of Section 6.10. If, within one year after such resignation, removal
or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be
appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the
Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment
in accordance with the applicable requirements of Section 6.10, become the successor Trustee with respect to the Securities of
such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect
to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner
required by Section 6.10, then, subject to Section 315(e) of the Trust Indenture Act, any Holder who has been a bona fide Holder
of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any
court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 

Section
6.10.   ACCEPTANCE OF APPOINTMENT BY SUCCESSOR. (a) In case of the appointment hereunder of a successor Trustee
with respect to Securities of any series, every such successor Trustee shall execute, acknowledge and deliver to the Company and
to the retiring Trustee an instrument accepting such appointment. Thereupon, the resignation or removal of the retiring Trustee
shall become effective, and the successor Trustee, without further act, deed or conveyance, shall become vested with all the rights,
powers and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee
shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers
and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money
held by such retiring Trustee hereunder.

 

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

 

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(c)         No
successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified
and eligible under the Trust Indenture Act.

 

(d)         The
Company shall give, or cause to be given, notice of each resignation and each removal of the Trustee with respect to the Securities
of any series and each appointment of a successor Trustee with respect to the Securities of any series in the manner provided
for notices to the Holders of Securities in Section 1.6. Each notice shall include the name of the successor Trustee with respect
to the Securities of such series and the address of its Corporate Trust Office.

 

Section
6.11.   ELIGIBILITY; DISQUALIFICATION. There shall at all times be a Trustee hereunder with respect to each series
of Securities (which need not be the same Trustee for all series). Each Trustee hereunder shall be eligible to act as trustee
under Section 310(a)(1) of the Trust Indenture Act and shall have a combined capital and surplus of at least $100,000,000. If
such corporation publishes reports of condition at least annually, pursuant to law or the requirements of federal, state, territorial
or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus
of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition
so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall
resign immediately in the manner and with the effect hereinafter specified in this Article.

 

If
the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either
eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture
Act and this Indenture.

 

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

 

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Section
6.13.   APPOINTMENT OF AUTHENTICATING AGENT. The Trustee may appoint an Authenticating Agent or Agents with respect
to one or more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of such
series issued upon original issue exchange, registration of transfer or partial redemption thereof, and Securities so authenticated
shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by
the Trustee hereunder. Any such appointment shall be evidenced by an instrument in writing signed by a Responsible Officer of
the Trustee, a copy of which instrument shall be promptly furnished to the Company. Wherever reference is made in this Indenture
to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference
shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to
the Company and, except as may otherwise be provided pursuant to Section 3.1, shall at all times be a bank or trust company or
corporation organized and doing business and in good standing under the laws of the United States of America or of any State or
the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of
not less than $1,500,000 and subject to supervision or examination by Federal or State authorities. If such Authenticating Agent
publishes reports of condition at least annually, pursuant to law or the requirements of the aforesaid supervising or examining
authority, then for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed
to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time an
Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall
resign immediately in the manner and with the effect specified in this Section.

 

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

 

An
Authenticating Agent for any series of Securities may at any time resign by giving written notice of resignation to the Trustee
for such series and to the Company. The Trustee for any series of Securities may at any time terminate the agency of an Authenticating
Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon receiving such a notice of
resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance
with the provisions of this Section, the Trustee for such series may appoint a successor Authenticating Agent which shall be acceptable
to the Company and shall give notice of such appointment to all Holders of Securities of the series with respect to which such
Authenticating Agent will serve in the manner set forth in Section 1.6. Any successor Authenticating Agent upon acceptance of
its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect
as if originally named as an Authenticating Agent herein. No successor Authenticating Agent shall be appointed unless eligible
under the provisions of this Section.

 

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The
Company agrees to pay to each Authenticating Agent from time to time such reasonable compensation as the Company and such Authenticating
Agent agree in writing from time to time including reimbursement of its reasonable expenses for its services under this Section.

 

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

 

This
is one of the [Securities] [of the series designated herein and] referred to in the within-mentioned Indenture.

 

	 	The Bank of New York Mellon Trust
    Company, N.A., as Trustee
	 	 	 
	 	By	 
	 	 	as Authenticating
    Agent
	 	By	 
	 	 	Authorized Signatory

 

Article
VII

CONSOLIDATION, MERGER OR SALE BY THE COMPANY 

 

Section
7.1.     CONSOLIDATION, MERGER OR SALE OF ASSETS. The Company may not merge or consolidate with or into
any other Person, in a transaction in which it is not the surviving corporation, or sell, convey, transfer or otherwise dispose
of all or substantially all of its assets to any Person, unless (i) surviving or transferee Person is organized and existing under
the laws of the United States or a State thereof and such Person expressly assumes by supplemental indenture all the obligations
of the Company under each series of Securities and under this Indenture, (ii) immediately thereafter, giving effect to such merger
or consolidation, or such sale, conveyance, transfer or other disposition, no Default or Event of Default shall have occurred
and be continuing and (iii) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel
each stating that such merger, consolidation, sale, conveyance, transfer or other disposition complies with this Article and that
all conditions precedent herein provided for relating to such transaction have been complied with. In the event of the assumption
by a successor Person of the obligations of the Company, such successor Person shall succeed to and be substituted for the Company
hereunder and under each series of Securities and all such obligations of the Company shall terminate.

 

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Article
VIII

SUPPLEMENTAL INDENTURES 

 

Section
8.1.     SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS. Without the consent of any Holders, the
Company and the Trustee, at any time and from time to time, may enter into indentures supplemental hereto for any of the following
purposes:

 

(1)         to
evidence the succession of another Person to the Company and the assumption by any such successor of the covenants and obligations
of the Company herein and in Securities (with such changes herein and therein as may be necessary or advisable to reflect such
Person’s legal status, if such Person is not a corporation); or

 

(2)         to
add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are
to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for
the benefit of such series) or to surrender any right or power herein conferred upon the Company or to comply with any requirement
of the Commission or otherwise in connection with the qualification of this Indenture under the Trust Indenture Act or otherwise;
or

 

(3)         to
add any additional Events of Default with respect to all or any series of Securities; or

 

(4)         to
add to or change any of the provisions of this Indenture to such extent as shall be necessary to facilitate or provide for the
issuance of Securities in global form in addition to or in place of Securities in certificated form; or

 

(5)         to
change or eliminate any of the provisions of this Indenture, provided that any such change or elimination shall become effective
only with respect to Securities which have not been issued as of the execution of such supplemental indenture or when there is
no Security Outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the benefit
of such provision; or

 

(6)         to
add guarantees with respect to all or any series of Securities; or

 

(7)         to
convey, transfer, assign, mortgage or pledge any property to or with the Trustee; or

 

(8)         to
supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance
and discharge of any series of Securities pursuant to Sections 4.1, 4.4, and 4.5; provided that any such action shall not adversely
affect the interests of the Holders of Securities of such series or any other series of Securities in any material respect; or

 

(9)         to
establish the form or terms of Securities of any series as permitted by Sections 2.1 and 3.1; or

 

(10)       to
provide for the delivery of indentures supplemental hereto or the Securities of any series in or by means of any computerized,
electronic or other medium, including without limitation by computer diskette; or

 

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(11)       to
evidence and provide for the acceptance of appointment hereunder by a successor or separate Trustee with respect to the Securities
of one or more series and/or to add to or change any of the provisions of this Indenture as shall be necessary to provide for
or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Article VI;
or

 

(12)       to
correct or supplement any provision herein which may be inconsistent with any other provision herein or to cure any ambiguity
or omission or to correct any mistake; or

 

(13)       to
make any other provisions with respect to matters or questions arising under this Indenture, provided such action shall not adversely
affect the interests of the Holders of Securities of any series in any material respect.

 

Section
8.2.     WITH CONSENT OF HOLDERS. Without prior notice to any Holder but with the written consent of
the Holders of a majority of the aggregate principal amount of the Outstanding Securities of each series adversely affected by
such supplemental indenture (with the Securities of each series voting as a class), the Company and the Trustee may enter into
an indenture or indentures supplemental hereto to add any provisions to or to change or eliminate any provisions of this Indenture
or of any other indenture supplemental hereto or to modify the rights of the Holders of Securities of each such series; provided,
however, that without the consent of the Holder of each Outstanding Security of such series adversely affected thereby, a supplemental
indenture under this Section may not:

 

(1)         change
the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security of such series, or reduce
the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the
amount of the principal of an Original Issue Discount Security or Indexed Security that would be due and payable upon a declaration
of acceleration of the Maturity thereof pursuant to Section 5.2, or change any Place of Payment where, or the coin or currency
in which any Securities of such series or any premium or the interest thereon is payable, or impair the right to institute suit
for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the
Redemption Date);

 

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

 

(3)         except
to the extent provided in Section 8.1(11), make any change in Section 5.7 or this 8.2 except to increase any percentage or to
provide that certain other provisions of this Indenture cannot be modified or waived except with the consent of the Holders of
each Outstanding Security of such series affected thereby, provided, however, that this clause shall not be deemed to require
the consent of any Holders with respect to changes in the references to the “Trustee” and concomitant changes in this
Section, in accordance with the requirements of Sections 6.10(b) and 8.1(11); or

 

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(4)         modify
the ranking or priority of the Securities of such series.

 

For
the purposes of this Section 8.2, if the Securities of any series are issuable upon the exercise of warrants, any holder of an
unexercised and unexpired warrant with respect to such series shall not be deemed to be a Holder of Outstanding Securities of
such series in the amount issuable upon the exercise of such warrants.

 

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

 

It
is not necessary under this Section 8.2 for the Holders to consent to the particular form of any proposed supplemental indenture,
but it is sufficient if they consent to the substance thereof.

 

Section
8.3.     COMPLIANCE WITH TRUST INDENTURE ACT. Every amendment to this Indenture or the Securities of
one or more series shall be set forth in a supplemental indenture that complies with the Trust Indenture Act as then in effect.

 

Section
8.4.     EXECUTION OF SUPPLEMENTAL INDENTURES. In executing, or accepting the additional trusts created
by, any supplemental indenture permitted by this Article or the modification thereby of the trusts created by this Indenture,
the Trustee shall be entitled to receive, and shall be fully protected in relying upon an Officer’s Certificate and Opinion
of Counsel stating that all conditions precedent to the execution of such supplemental indenture have been satisfied and an Opinion
of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture and that such
supplemental indenture is the legal, valid and binding obligation of the Company. The Trustee may, but shall not be obligated
to, enter into any such supplemental indenture which adversely affects the Trustee. The Trustee shall enter into any such supplemental
indenture presented to it by the Company in compliance with this Article VIII if such supplemental indenture does not adversely
affect the Trustee, as determined in its sole discretion. In formulating its opinion on such matters the Trustee shall be entitled
to rely on such evidence as it deems appropriate, which may be or include, without limitation, reliance solely on an opinion or
advice of its counsel.

 

Section
8.5.     EFFECT OF SUPPLEMENTAL INDENTURES. Upon the execution of any supplemental indenture under this
Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture
for all purposes; and every Holder of Securities of the applicable series theretofore or thereafter authenticated and delivered
hereunder and shall be bound thereby; provided that if such supplemental indenture makes any of the changes described in clauses
(1) through (4) of the first proviso to Section 8.2, such supplemental indenture shall bind each Holder of a Security of the applicable
series who has consented to it and every subsequent Holder of such Security or any part thereof.

 

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

 

Article
IX

COVENANTS

 

Section
9.1.     PAYMENT OF PRINCIPAL, PREMIUM, IF ANY, AND INTEREST. The Company covenants and agrees for the
benefit of the Holders of each series of Securities that it will duly and punctually pay the principal of, premium, if any, and
interest on the Securities of that series in accordance with the terms of the Securities of such series, and this Indenture. An
installment of principal, premium, if any, or interest shall be considered paid on the date it is due if the Trustee or Paying
Agent holds on that date money designated for and sufficient to pay the installment.

 

Section
9.2.     MAINTENANCE OF OFFICE OR AGENCY. If Securities of a series are issued as Registered Securities,
the Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series
may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or
exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may
be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of any
such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish
the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate
Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders,
notices and demands (provided, however, that the foregoing appointment shall not impose or imply any obligation on the part of
the Trustee to maintain any office for any such purposes other than the Corporate Trust Office.)

 

Subject
to the preceding paragraphs, the Company may also from time to time designate one or more other offices or agencies where the
Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind
such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation
to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give
prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other
office or agency.

 

Unless
otherwise specified as contemplated by Section 3.1, the Trustee shall initially serve as Paying Agent. The Paying Agent may make
reasonable rules not inconsistent herewith for the performance of its functions.

 

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Section
9.3.     MONEY FOR SECURITIES TO BE HELD IN TRUST; UNCLAIMED MONEY. If the Company shall at any time
act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date of the principal of,
premium, if any, or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons
entitled thereto a sum sufficient to pay the principal, premium, if any, or interest so becoming due until such sums shall be
paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee in writing of any failure
so to act.

 

Whenever
the Company shall have one or more Paying Agents for any series of Securities, it will, on or prior to each due date of the principal
of or any premium or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount,
such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company will promptly
notify the Trustee of any failure so to act.

 

If
the Company is not acting as its own Paying Agent, the Company will cause each Paying Agent for any series of Securities other
than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee,
subject to the provisions of this Section, that such Paying Agent will:

 

(1)         hold
all sums held by it for the payment of the principal of, premium, if any, or interest on Securities of that series in trust for
the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided;

 

(2)         give
the Trustee notice of any Default by the Company (or any other obligor upon the Securities of that series) in the making of any
payment of principal, premium, if any, or interest on the Securities of that series; and

 

(3)         at
any time during the continuance of any such Default, upon the written request of the Trustee, forthwith pay to the Trustee all
sums so held in trust by such Paying Agent.

 

Notwithstanding
anything in this Section 9.3 to the contrary, the Company may at any time, for the purpose of obtaining the satisfaction and discharge
of this Indenture, or with respect to one or more series of Securities, or for any other purpose, pay, or by Company Order direct
any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the
Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment
by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money.

 

Subject
to applicable abandoned property laws, any money deposited with the Trustee or any Paying Agent, or then held by the Company,
in trust for the payment of any principal, premium or interest or other amounts on any Security of any series and remaining unclaimed
for two years after such principal, premium, if any, or interest or other amounts has become due and payable shall be paid to
the Company (including interest income on such funds, if any), or (if then held by the Company) shall be discharged from such
trust; and the Holder of such Security, shall thereafter, as an unsecured general creditor, look only to the Company for payment
thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company
as trustee thereof, shall thereupon cease.

 

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Section
9.4.     CORPORATE EXISTENCE. Subject to Article VII, the Company will at all times do or cause to be
done all things necessary to preserve and keep in full force and effect its corporate existence.

 

Section
9.5.     REPORTS BY THE COMPANY. The Company covenants, at any time at which there are Outstanding Securities
of any series issued under this Indenture:

 

(a)         to
file with the Trustee, within 30 days after the Company is required to file the same with the Commission, copies of the annual
reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission
may from time to time by rules and regulations prescribe) which the Company may be required to file with the Commission pursuant
to section 13 or section 15(d) of the Securities Exchange Act of 1934, as amended; or, if the Company is not required to file
information, documents or reports pursuant to either of such sections, then to file with the Trustee and the Commission, in accordance
with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information,
documents and reports which may be required pursuant to section 13 of the Securities Exchange Act of 1934, as amended, in respect
of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and
regulations;

 

(b)         to
file with the Trustee and the Commission, in accordance with the rules and regulations prescribed from time to time by the Commission,
such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants
provided for in this Indenture, as may be required from time to time by such rules and regulations; and

 

(c)         to
transmit to all Holders of Securities within 30 days after the filing thereof with the Trustee, in the manner and to the extent
provided in section 313(c) of the Trust Indenture Act, such summaries of any information, documents and reports required to be
filed by the Company pursuant to subsections (a) and (b) of this Section 9.5, as may be required by rules and regulations prescribed
from time to time by the Commission.

 

Section
9.6.     ANNUAL REVIEW CERTIFICATE. At any time at which there are Outstanding Securities of any series
issued under this Indenture, the Company covenants and agrees to deliver to the Trustee, within 120 days after the end of each
fiscal year of the Company, a brief certificate from the principal executive officer, principal financial officer, or principal
accounting officer as to his or her knowledge of whether the Company is in Default under this Indenture. For purposes of this
Section 9.6, such compliance shall be determined without regard to any period of grace or requirement of notice provided under
this Indenture.

 

     59

     

    

 

Article
X

REDEMPTION 

 

Section
10.1.   APPLICABILITY OF ARTICLE. Securities of or within any series which are redeemable in whole or in part before
their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified in the applicable
Board Resolution or supplemental indenture with respect to such series of Securities, as contemplated by Section 3.1 for Securities
of any series) in accordance with this Article.

 

Section
10.2.   ELECTION TO REDEEM; NOTICE TO TRUSTEE. The election of the Company to redeem any Securities shall be evidenced
by a Board Resolution. In the case of any redemption at the election of the Company of less than all the Securities of any series
of the same tenor, the Company shall, at least 60 days (45 days in the case of redemption of all Securities of any series or of
any series with the same (i) Stated Maturity, (ii) period or periods within which, price or prices at which and terms and conditions
upon which such Securities may or shall be redeemed or purchased, in whole or in part, at the option of the Company or pursuant
to any sinking fund or analogous provision or repayable at the option of the Holder and (iii) rate or rates at which such Securities
bear interest, if any, or formula pursuant to which such rate or rates accrue (collectively, the “Equivalent Principal Terms”))
prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee
of such Redemption Date of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of
such Securities to be redeemed. In the case of any redemption of Securities of a series (i) prior to the expiration of any restriction
on such redemption provided in the terms of such Securities or elsewhere in this Indenture or (ii) pursuant to an election of
the Company which is subject to a condition specified in the terms of such Securities, the Company shall furnish the Trustee with
an Officer’s Certificate evidencing compliance with such restriction or condition.

 

Section
10.3.   SELECTION OF SECURITIES TO BE REDEEMED. If less than all the Securities with Equivalent Principal Terms
of any series are to be redeemed (unless all of the Securities of such series and of a specified tenor are to be redeemed), the
particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from
the Outstanding Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair
and appropriate and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination
for Securities of that series with Equivalent Principal Terms or any integral multiple thereof) of the principal amount of Securities
of such series with Equivalent Principal Terms of a denomination larger than the minimum authorized denomination for Securities
of that series. Unless otherwise provided in the terms of a particular series of Securities, the portions of the principal of
Securities so selected for partial redemption shall be equal to the minimum authorized denomination of the Securities of such
series, or an integral multiple thereof, and the principal amount which remains outstanding shall not be less than the minimum
authorized denomination for Securities of such series.

 

The
Trustee shall promptly notify the Company in writing of the Securities selected for redemption and, in the case of any Securities
selected for partial redemption, the principal amount thereof to be redeemed. If the Securities of a series having different issue
dates, interest rates and maturities (whether or not originally issued in a Periodic Offering) are to be redeemed, the Company
in its discretion may select the particular Securities or portions thereof to be redeemed and shall notify the Trustee thereof
by such time prior to the relevant redemption date or dates as the Company and the Trustee may agree.

 

     60

     

    

 

For
purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall
relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such
Securities which has been or is to be redeemed.

 

Section
10.4.   NOTICE OF REDEMPTION. Unless otherwise specified as contemplated by Section 3.1, notice of redemption shall
be given by first-class mail, postage prepaid, mailed not less than 30 days nor more than 60 days prior to the Redemption Date,
unless a shorter period is specified in the Securities to be redeemed, to each Holder of the Securities to be redeemed.

 

All
notices of redemption shall state:

 

(1)         the
Redemption Date;

 

(2)         the
Redemption Price and the amount of accrued interest, if any, to be paid;

 

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

 

(4)         in
case any Security is to be redeemed in part only, the notice which relates to such Security shall state that on and after the
Redemption Date, upon surrender of such Security, the Holder of such Security will receive, without a charge, a new Security or
Securities of authorized denominations for the principal amount thereof remaining unredeemed;

 

(5)         the
Place or Places of Payment where such Securities are to be surrendered for payment for the Redemption Price;

 

(6)         that
Securities of the series called for redemption appertaining thereto must be surrendered to the Paying Agent to collect the Redemption
Price;

 

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

 

(8)         that
the redemption is for a sinking fund, if such is the case;

 

(9)         the
CUSIP number and/or ISIN, if any, of such Securities.

 

Notice
of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request, by the Trustee in the name and at the expense of the Company (provided that the Company prepare and provide to the Trustee
the form of such notice, or, if acceptable to the Trustee, provides sufficient information to enable the Trustee to prepare such
notice, in each case on a timely basis.)

 

     61

     

    

 

Section
10.5.   DEPOSIT OF REDEMPTION PRICE. On or prior to any Redemption Date, the Company shall deposit with the Trustee
or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section
9.3) an amount of money in the currency or currencies (including currency units or composite currencies) in which the Securities
of such series are payable (except as otherwise specified pursuant to Section 3.1 for the Securities of such series) sufficient
to pay on the Redemption Date the Redemption Price of, and (unless the Redemption Date shall be an Interest Payment Date) interest
accrued to the Redemption Date on, all Securities or portions thereof which are to be redeemed on that date.

 

Unless
any Security by its terms prohibits any sinking fund payment obligation from being satisfied by delivering and crediting Securities
(including Securities redeemed otherwise than through a sinking fund), the Company may deliver such Securities to the Trustee
for crediting against such payment obligation in accordance with the terms of such Securities and this Indenture.

 

Section
10.6.   SECURITIES PAYABLE ON REDEMPTION DATE. Notice of redemption having been given as aforesaid, the Securities
so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and
after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities
shall cease to bear interest and such Securities shall cease from and after the Redemption Date to be entitled to any benefit
or security under this Indenture, and the Holders thereof shall have no right in respect of such Securities except the right to
receive the Redemption Price thereof and unpaid interest to the Redemption Date. Except as provided in the next succeeding paragraph,
upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company
at the Redemption Price, together with accrued interest, if any, to the Redemption Date; provided, however, that, unless otherwise
specified as contemplated by Section 3.1, installments of interest on Registered Securities whose Stated Maturity is on or prior
to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as
such at the close of business on the relevant Record Dates according to their terms and the provisions of Section 3.7.

 

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

 

Section
10.7.   SECURITIES REDEEMED IN PART. Upon surrender of a Security that is redeemed only in part at any Place of
Payment therefor (with, if the Company or the Trustee so require, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing),
the Company shall execute and the Trustee shall authenticate and deliver to the Holder of that Security, without service charge,
a new Security or Securities of the same series, having the same form, terms and Stated Maturity, in any authorized denomination
equal in aggregate principal amount to the unredeemed portion of the principal amount of the Security surrendered.

 

     62

     

    

 

Article
XI

SINKING FUNDS 

 

Section
11.1.   APPLICABILITY OF ARTICLE. The provisions of this Article shall be applicable to any sinking fund for the
retirement of Securities of a series except as otherwise specified as contemplated by Section 3.1 for Securities of such series.

 

The
minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory
sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series
is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any series,
the cash amount of any sinking fund payment may be subject to reduction as provided in Section 11.2. Each sinking fund payment
shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series.

 

Section
11.2.   SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES. The Company (i) may deliver Outstanding Securities
of a series (other than any previously called for redemption) and (ii) may apply as a credit Securities of a series which have
been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted
optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any
sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities
as provided for by the terms of such series; provided that such Securities have not been previously so credited. Such Securities
shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption
through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.

 

Section
11.3.   REDEMPTION OF SECURITIES FOR SINKING FUND. Not less than 60 days prior to each sinking fund payment date
for any series of Securities, the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of
the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which
is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities
of that series pursuant to Section 11.2 and will also deliver to the Trustee any Securities to be so delivered. Not less than
30 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund
payment date in the manner specified in Section 10.3 and cause notice of the redemption thereof to be given in the name of and
at the expense of the Company in the manner provided in Section 10.4. Such notice having been duly given, the redemption of such
Securities shall be made upon the terms and in the manner stated in Sections 10.6 and 10.7.

 

This
Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one instrument.

 

     63

     

    

 

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

 

	 	 	 	 
	 	AKOUSTIS
    TECHNOLOGIES, inc.
	 	 
	 	By:	/s/ John T.
    Kurtzweil
	 	Name:	John T. Kurtzweil
	 	Title:	Chief Financial Officer
	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST
    COMPANY, N.A., as Trustee
	 	 	 
	 	By:	/s/ R. Tarnas
	 	Name:	R. Tarnas
	 	Title:	Vice PresidentExhibit
4.2

	 

 

AKOUSTIS
TECHNOLOGIES, INC., 

 

AND

 

THE
BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

 

as
Trustee 

 

 

 

FIRST
SUPPLEMENTAL INDENTURE 

 

Dated
as of October 23, 2018

 

To

 

INDENTURE

 

Dated
as of October 23, 2018

 

 

 

6.5%
CONVERTIBLE SENIOR NOTES DUE 2023

 

 

	 

 

     

     

    

 

TABLE
OF CONTENTS

 

	ARTICLE 1.	 
	SCOPE OF FIRST SUPPLEMENTAL INDENTURE,
    DEFINITIONS AND INCORPORATION BY REFERENCE	 
	 	 
	 	Section 1.01	Scope of First Supplemental
    Indenture	1
	 	Section 1.02	Definitions	1
	 	Section 1.03	Other Definitions	14
	 	Section 1.04	Incorporation by Reference of Trust Indenture
    Act	15
	 	Section 1.05	Rules of Construction	15
	 	 	 	 
	ARTICLE 2.	 
	THE NOTES	16
	 	 
	 	Section 2.01	Title, Terms, Form and Dating	16
	 	Section 2.02	Execution and Authentication	16
	 	Section 2.03	Registrar, Paying Agent and Conversion Agent	17
	 	Section 2.04	Paying Agent to Hold Money in Trust	17
	 	Section 2.05	Holder Lists; Acts	17
	 	Section 2.06	Transfer and Exchange	18
	 	Section 2.07	Replacement Notes	19
	 	Section 2.08	Outstanding Notes	19
	 	Section 2.09	Treasury Notes	19
	 	Section 2.10	Temporary Notes	20
	 	Section 2.11	Cancellation	20
	 	Section 2.12	Repurchases	20
	 	Section 2.13	[Intentionally Omitted]	20
	 	Section 2.14	CUSIP Numbers	20
	 	Section 2.15	Book-Entry Provisions for Global Notes	21
	 	Section 2.16	Ranking	22
	 	 	 	 
	ARTICLE 3.	 
	REDEMPTION AND PREPAYMENT	22
	 	 
	 	Section 3.01	Notices to Trustee	22
	 	Section 3.02	Selection of Notes To Be Redeemed	22
	 	Section 3.03	Notice of Redemption	22
	 	Section 3.04	Effect of Notice of Redemption	23
	 	Section 3.05	Deposit of Redemption Price and Interest Make-Whole
    Payment	23
	 	Section 3.06	Notes Redeemed in Part	24
	 	Section 3.07	Optional Redemption by the Company	24
	 	Section 3.08	Offer to Repurchase upon Election of Holder	25
	 	 	 	 
	ARTICLE 4.	 
	[INTENTIONALLY OMMITTED]	26

 

    -i- 

     

    

 

	ARTICLE 5.	 
	COVENANTS	26
	 	 
	 	Section 5.01	Payment of Notes	26
	 	Section 5.02	Maintenance of Office or Agency	27
	 	Section 5.03	Reports	27
	 	Section 5.04	Compliance Certificate	27
	 	Section 5.05	Taxes	28
	 	Section 5.06	Stay, Extension and Usury Laws	28
	 	Section 5.07	Restricted Payments	28
	 	Section 5.08	Dividend and Other Payment Restrictions Affecting
    Subsidiaries	30
	 	Section 5.09	Incurrence of Indebtedness and Issuance of Disqualified
    Stock	31
	 	Section 5.10	Asset Sales	33
	 	Section 5.11	Transactions with Affiliates	34
	 	Section 5.12	Liens	35
	 	Section 5.13	Line of Business	35
	 	Section 5.14	Corporate Existence	35
	 	Section 5.15	[Intentionally Omitted]	36
	 	Section 5.16	Maintenance of Properties and Insurance	36
	 	Section 5.17	Payments for Consent	36
	 	Section 5.18	[Intentionally Omitted]	36
	 	Section 5.19	Issuance or Sale of Subsidiary Stock	36
	 	Section 5.20	[Intentionally Omitted]	36
	 	Section 5.21	Special Interest	36
	 	 	 	 
	ARTICLE 6.	 
	CONSOLIDATION, MERGER AND SALE OF
    ASSETS	37
	 	 
	 	Section 6.01	When Company May Merger, Etc	37
	 	Section 6.02	Successor Corporation to Be Substituted	37
	 	Section 6.03	Opinion of Counsel to Be Given to Trustee	37
	 	 	 	 
	ARTICLE 7.	 
	DEFAULTS AND REMEDIES	38
	 	 
	 	Section 7.01	Events of Default	38
	 	Section 7.02	Acceleration	39
	 	Section 7.03	Other Remedies	40
	 	Section 7.04	Waiver of Past Defaults	40
	 	Section 7.05	Control by Majority	40
	 	Section 7.06	Limitation on Suits	41
	 	Section 7.07	Unconditional Rights of Holders of Notes to
    Receive Payment	41
	 	Section 7.08	Collection Suit by Trustee	41
	 	Section 7.09	Trustee May File Proofs of Claim	41
	 	Section 7.10	Priorities	42
	 	Section 7.11	Undertaking for Costs	42
	 	Section 7.12	Waiver of Stay or Extension of Laws	42

 

    -ii- 

     

    

 

	ARTICLE 8.	 
	TRUSTEE	43
	 	 
	 	Section 8.01	Duties of Trustee	43
	 	Section 8.02	Rights of Trustee	44
	 	Section 8.03	Individual Rights of Trustee	45
	 	Section 8.04	Trustee’s Disclaimer	45
	 	Section 8.05	Notice of Defaults	45
	 	Section 8.06	Reports by Trustee to Holders of the Notes	45
	 	Section 8.07	Compensation and Indemnity	46
	 	Section 8.08	Replacement of Trustee	46
	 	Section 8.09	Successor Trustee by Merger, etc	47
	 	Section 8.10	Eligibility; Disqualification	47
	 	Section 8.11	Preferential Collection of Claims Against Company	47
	 	 	 	 
	ARTICLE 9.	 
	CONVERSION OF NOTES	47
	 	 
	 	Section 9.01	Conversion Privilege	47
	 	Section 9.02	Conversion Procedure; Settlement Upon Conversion	48
	 	Section 9.03	Payment in Connection with Conversion Upon a
    Qualifying Fundamental Change	50
	 	Section 9.04	Adjustment of Conversion Rate	51
	 	Section 9.05	Adjustments of Prices	58
	 	Section 9.06	Share Reservations	58
	 	Section 9.07	Effect of Recapitalizations, Reclassifications
    and Changes of the Common Stock	59
	 	Section 9.08	Certain Covenants	60
	 	Section 9.09	Responsibility of Trustee	60
	 	Section 9.10	Notice to Holders Prior to Certain Actions	61
	 	Section 9.11	Stockholder Rights Plans	61
	 	 	 	 
	ARTICLE 10.	 
	REPURCHASE OF NOTES AT OPTION OF
    HOLDERS	61
	 	 
	 	Section 10.01	Repurchase at Option of Holder Upon Fundamental
    Change	61
	 	Section 10.02	Withdrawal of Fundamental Change Repurchase
    Notice	63
	 	Section 10.03	Deposit of Fundamental Change Repurchase Price	64
	 	Section 10.04	Covenant to Comply with Applicable Laws Upon Repurchase
of Notes 	64
	 	 	 
	ARTICLE 11.	 
	COVENANT DEFEASANCE	65
	 	 
	 	Section 11.01	Option to Effect Covenant Defeasance	65
	 	Section 11.02	Covenant Defeasance	65
	 	Section 11.03	Conditions to Covenant Defeasance	65

 

    -iii- 

     

    

 

	 	Section
    11.04	Deposited
    Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	66
	 	Section
    11.05	Repayment
    to Company	66
	 	 	 
	ARTICLE
    12.	 	 
	AMENDMENT,
    SUPPLEMENT AND WAIVER	67
	 	 	 	 
	 	Section
    12.01	Without
    Consent of Holders of Notes	67
	 	Section
    12.02	With
    Consent of Holders of Notes	67
	 	Section
    12.03	Compliance
    with Trust Indenture Act	69
	 	Section
    12.04	Revocation
    and Effect of Consents	69
	 	Section
    12.05	Notation
    on or Exchange of Notes	69
	 	Section
    12.06	Trustee
    to Sign Amendments, etc	69
	 	 	 	 
	ARTICLE
    13.	 
	[INTENTIONALLY
    OMITTED]	 
	 	 
	ARTICLE
    14.	70
	[INTENTIONALLY
    OMITTED]	 
	 	 
	ARTICLE
    15.	70
	SATISFACTION
    AND DISCHARGE	 
	 	 	 	 
	 	Section
    15.01	Satisfaction
    and Discharge	70
	 	Section
    15.02	Application
    of Trust Money	70
	 	 	 	 
	ARTICLE
    16.	 
	MATURITY
    DATE, INTEREST, AND INTEREST RATE	71
	 	 	 	 
	 	Section
    16.01	Maturity	71
	 	Section
    16.02	Interest
    and Interest Rate	71
	 	 	 	 
	ARTICLE
    17.	 	 
	MISCELLANEOUS	71
	 	 	 	 
	 	Section
    17.01	[Intentionally
    Omitted]	71
	 	Section
    17.02	Notices	72
	 	Section
    17.03	Communication
    by Holders of Notes with Other Holders of Notes	73
	 	Section
    17.04	Legal
    Holidays	73
	 	Section
    17.05	Calculations	73
	 	Section
    17.06	Certificate
    and Opinion as to Conditions Precedent	73
	 	Section
    17.07	Statements
    Required in Certificate or Opinion	74
	 	Section
    17.08	Rules
    by Trustee and Agents	74
	 	Section
    17.09	[Intentionally
    Omitted]	74
	 	Section
    17.10	[Intentionally
    Omitted]	74
	 	Section
    17.11	[Intentionally
    Omitted]	74
	 	Section
    17.12	[Intentionally
    Omitted]	74
	 	Section
        17.13	[Intentionally
        Omitted]	74

 

    -iv- 

     

    

 

		Section
        17.14
	Successors
	74

		Section
        17.15 
	[Intentionally
        Omitted] 
	74

		Section
        17.16 
	Counterpart
        Originals 
	74

		Section
        17.17 
	Table
        of Contents, Headings, etc 
	74

		Section
        17.18 
	Force
        Majeure 
	75

		Section
        17.19 
	Foreign
        Account Tax Compliance Act (FATCA) 
	75

 

Exhibit
A – FORM OF NOTE

 

    -v- 

     

    

 

Exhibit
4.2

 

FIRST
SUPPLEMENTAL INDENTURE dated as of October 23, 2018 (the “First Supplemental Indenture”) between Akoustis Technologies,
Inc., a Delaware corporation, as issuer (the “Company”), and The Bank of New York Mellon Trust Company, N.A.,
a national banking association, as trustee (the “Trustee”).

  

WHEREAS,
the Company has executed and delivered to the Trustee an Indenture dated as of October 23, 2018 (the “Base Indenture”
and, as supplemented by this First Supplemental Indenture, the “Indenture”) providing for the issuance from
time to time of one or more series of the Company’s debt securities;

 

WHEREAS,
Section 3.1 of the Base Indenture provides that the Company and the Trustee may enter into an indenture supplemental to the
Base Indenture to establish the form or terms of Securities of any series;

 

WHEREAS,
the Company has duly authorized the creation of an issue of its 6.5% Convertible Senior Notes due 2023 (the “Notes”),
having the terms, tenor, amount and other provisions hereinafter set forth, and, to provide therefor, the Company has duly authorized
the execution and delivery of this First Supplemental Indenture; and

 

WHEREAS,
all things necessary to make the Notes, when the Notes are duly executed by the Company and authenticated and delivered hereunder
and duly issued by the Company, the valid obligations of the Company, and to make this First Supplemental Indenture a valid and
binding agreement of the Company, in accordance with their and its terms, have been done and performed, and the execution of this
First Supplemental Indenture and the issue hereunder of the Notes have in all respects been duly authorized,

  

NOW,
THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH:

 

For
and in consideration of the premises and the purchase of the Notes by the holders thereof, it is mutually covenanted and agreed,
for the equal and proportionate benefit of all holders of the Notes, as follows:

 

ARTICLE
1.

SCOPE OF FIRST SUPPLEMENTAL INDENTURE, DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section
1.01     Scope of First Supplemental Indenture. This First Supplemental
Indenture supplements the provisions of the Base Indenture, to which provisions reference is hereby made. The changes, modifications
and supplements to the Base Indenture effected by this First Supplemental Indenture shall be applicable only with respect to,
and shall only govern the terms of, the Notes, which may be issued from time to time, and shall not apply to any other Securities
that may be issued under the Base Indenture unless a supplemental indenture with respect to such other Securities specifically
incorporates such changes, modifications and supplements. Unless the context otherwise requires, section references are to this
First Supplemental Indenture rather than the Base Indenture. For all purposes under the Base Indenture, the Notes shall constitute
a single series of Securities. The provisions of this First Supplemental Indenture shall supersede any conflicting provisions
in the Base Indenture with respect to the Notes.

 

Section
1.02     Definitions. Each term used herein which is defined in the
Base Indenture has the meaning assigned to such term in the Base Indenture unless otherwise specifically defined herein, in which
case the definition set forth herein shall govern for purposes of the Notes.

 

“Acquired
Debt” means, with respect to any specified Person, (i) Indebtedness of any other Person existing at the time such other
Person is merged with or into or became a Subsidiary of such specified Person, and (ii) Indebtedness secured by a Lien encumbering
any real property or fixed assets acquired by such specified Person.

 

“Affiliate”
of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For purposes of the Indenture, “control” (including, with correlative meanings,
the terms “controlling”, “controlled by” and “under common control with”), as used with respect
to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of such Person, whether through the ownership of voting securities, by agreement or otherwise; provided, that, solely
for the purposes of this definition of “Affiliate,” beneficial ownership of 10% or more of the Voting Stock of a Person
shall be deemed to be control. Notwithstanding the foregoing, no Holder shall be deemed, for purposes of the Indenture, to be
an Affiliate of the Company or any of its Subsidiaries solely by reason of holding the Notes.

 

    -1- 

     

    

 

“Agent”
means any Registrar, Paying Agent, Conversion Agent or co-registrar.

 

“Applicable
Procedures” means, with respect to a Depositary, as to any matter at any time, the policies and procedures of such Depositary,
if any, that are applicable to such matter at such time.

 

“Bankruptcy
Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors.

 

“Beneficial
Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating
the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act),
such “person” will be deemed to have beneficial ownership of all securities that such “person” has the
right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable
only after the passage of time. For purposes of this definition, “Beneficially Owns” and “Beneficially Owned”
shall have a correlative meaning.

 

“Board
of Directors” means:

 

(i)          with
respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on behalf
of such board;

 

(ii)         with
respect to a partnership, the Board of Directors of the general partner of the partnership;

 

(iii)        with
respect to a limited liability company, the managing member or members, the manager or any controlling committee or board of managers
or managing members thereof; and

 

(iv)        with
respect to any other Person, the board or committee of such Person serving a similar function.

 

“Business
Day” means any day other than a Legal Holiday.

 

“Capital
Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect
of a capital lease that would at such time be required to be capitalized on a balance sheet prepared in accordance with GAAP,
and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to
the first date upon which such lease may be prepaid by the lessee without payment of a penalty.

 

“Capital
Stock” means:

 

(i)          in
the case of a corporation, corporate stock;

 

(ii)         in
the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock;

 

(iii)        in
the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership interests;
and

 

(iv)       any
other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions
of assets of, the issuing Person, but excluding from all of the foregoing any debt securities convertible into Capital Stock,
whether or not such debt securities include any right of participation with Capital Stock.

 

    -2- 

     

    

 

“Cash
Equivalents” means and of the following types of property:

 

(i)          United
States dollars,

 

(ii)         readily
marketable direct obligations of the government of the United States or any agency or instrumentality thereof, or obligations
the timely payment of principal and interest on which are fully and unconditionally guaranteed by the government of the United
States or any state or municipality thereof, in each case so long as such obligation has an investment grade rating by S&P
and Moody’s;

 

(iii)        commercial
paper maturing no more than one year from the date of creation thereof and rated at least P-1 (or the then equivalent grade) by
Moody’s and A-1 (or the then equivalent grade) by S&P, or carrying an equivalent rating by a nationally recognized rating
agency if at any time neither Moody’s and S&P shall be rating such obligations;

 

(iv)        insured
certificates of deposit or bankers’ acceptances of, or time deposits with any commercial bank that (w) is a member of the
Federal Reserve System, (x) issues (or the parent of which issues) commercial paper rated as described in clause (iii) above,
(y) is organized under the laws of the United States or of any state thereof and (z) has combined capital and surplus of at least
$500,000,000;

 

(v)         readily
marketable general obligations of any corporation organized under the laws of any state of the United States, payable in the United
States, expressed to mature not later than 12 months following the date of issuance thereof and rated A or better by S&P or
A2 or better by Moody’s; and

 

(vi)        readily
marketable shares of investment companies or money market funds that, in each case, invest solely in the foregoing Investments
described in clauses (i) through (vi) above.

 

“Closing
Sale Price” means, as determined by us, the closing sale price per share (or if no closing sale price is reported, the
average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices)
on that date as reported in composite transactions for the principal U.S. national or regional securities exchange on which the
Common Stock is traded. If the Common Stock is not listed for trading on a U.S. national or regional securities exchange on the
relevant date, the “Closing Sale Price” will be the last quoted bid price for the Common Stock in the over-the-counter
market on the relevant date as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock is not so quoted,
the “Closing Sale Price” will be the average of the mid-point of the last bid and ask prices for the Common Stock
on the relevant date from each of at least three nationally recognized independent investment banking firms selected by the Company
for this purpose.

 

“Common
Equity” of any Person means Capital Stock of such Person that is generally entitled (a) to vote in the election
of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection
of the governing body, partners, managers or others that will control the management or policies of such Person.

 

“Common
Stock” means the Common Stock of the Company, par value $0.001 per share, as it exists on the date of the Indenture
and any shares of any class or classes of Capital Stock of the Company resulting from any reclassification or reclassifications
thereof and which have no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary
liquidation, dissolution or winding-up of the Company and which are not subject to redemption by the Company; provided, however,
that if at any time there shall be more than one such resulting class, the shares of each such class then so issuable on conversion
of the Notes shall be substantially in the proportion which the total number of shares of such class resulting from all such reclassifications
bears to the total number of shares of all such classes resulting from all such reclassifications.

 

“Company”
means Akoustis Technologies, Inc., a Delaware corporation, and any and all successors thereto in accordance with the Indenture,
and thereafter “Company” shall mean such successor Company.

 

    -3- 

     

    

 

“Company
Order” means a written order of the Company, signed by one of its Officers, and delivered to the Trustee.

 

“Consolidated
Net Income” means, with respect to any specified Person for any period, the aggregate of the Net Income of such Person
and its Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided that:

 

(i)          the
Net Income (but not loss) of any Person that is not a Subsidiary or that is accounted for by the equity method of accounting will
be included only to the extent of the amount of dividends or similar distributions paid in cash to the specified Person or a Subsidiary
of the Person;

 

(ii)         the
Net Income of any Subsidiary will be excluded to the extent that the declaration or payment of dividends or similar distributions
by that Subsidiary of that Net Income is not at the date of determination permitted without any prior governmental approval (that
has not been obtained) or, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment,
decree, order, statute, rule or governmental regulation applicable to that Subsidiary or its stockholders;

 

(iii)        the
cumulative effect of a change in accounting principles will be excluded; and

 

(iv)        the
Net Income of any Person acquired during the specified period for any period prior to the date of acquisition will be excluded.

 

“Conversion
Price” means as of any time, $1,000, divided by the Conversion Rate as of such time.

 

“Corporate
Trust Office” means (a) with respect to the Trustee, the office of the Trustee at which at any time its corporate trust
business shall be administered, which office at the date hereof is located at 10161 Centurion Parkway N., Jacksonville, Florida
32256, Attention: Corporate Trust Administration, or such other address as the Trustee may designate from time to time by notice
to the Holders and the Company, or the corporate trust office of any successor Trustee (or such other address as such successor
Trustee may designate from time to time by notice to the Holders and the Company) and (b) with respect to the Paying Agent, the
office of the Paying Agent at which at any time its business shall be administered, which office at the date hereof is located
at 10161 Centurion Parkway N., Jacksonville, Florida 32256, Attention: Corporate Trust Administration, or such other address as
the Paying Agent may designate from time to time by notice to the Holders and the Company, or the office of any successor Paying
Agent (or such other address as such successor Paying Agent may designate from time to time by notice to the Holders and the Company).

 

“Credit
Facilities” means, one or more debt facilities or commercial paper facilities, in each case, with banks or other institutional
lenders providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to
such lenders or to special purpose entities formed to borrow from such lenders against such receivables) or letters of credit,
in each case, as amended, restated, modified, renewed, refunded, replaced (whether upon or after termination or otherwise) or
refinanced (including by means of sales of debt securities to institutional investors) in whole or in part from time to time.

 

“Daily
VWAP” means for each Trading Day during any calculation period under the Indenture, the per share volume-weighted average
price of the Common Stock as displayed under the heading "“Bloomberg VWAP"” on Bloomberg page “AKTS
<equity> AQR” (or its equivalent successor if such page is not available) in respect of the period from the scheduled
open of trading until the scheduled close of trading of the primary trading session on such Trading Day (or if such volume-weighted
average price is unavailable, the market value of one share of the Common Stock on such Trading Day determined, using a volume-weighted
average method, by a nationally recognized independent investment banking firm retained for this purpose by the Company). The
"Daily VWAP” will be determined without regard to after-hours trading or any other trading outside of the regular trading
session trading hours.

 

    -4- 

     

    

 

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

 

“Depositary”
means The Depository Trust Company until a successor Depositary shall have become such pursuant to the applicable provisions of
the Indenture, and thereafter “Depositary” shall mean such successor Depositary.

 

“Disqualified
Stock” means any Capital Stock that, by its terms (or by the terms of any security into which it is convertible or for
which it is exchangeable, in each case, at the option of the holder of the Capital Stock), or upon the happening of any event,
matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder
thereof, in whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature. Notwithstanding
the preceding sentence, any Capital Stock that would constitute Disqualified Stock solely because the holders of the Capital Stock
have the right to require the Company to repurchase such Capital Stock upon the occurrence of a Fundamental Change or an Asset
Sale will not constitute Disqualified Stock if the terms of such Capital Stock provide that the Company may not repurchase or
redeem any such Capital Stock pursuant to such provisions unless such repurchase or redemption complies with Section 5.07 of this
First Supplemental Indenture. The amount of Disqualified Stock deemed to be outstanding at any time for purposes of hereof shall
be the maximum amount that the Company and its Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any
mandatory redemption provisions of, such Disqualified Stock, exclusive of accrued dividends.

 

“Effective
Date” means the date on which any Fundamental Change, Qualifying Fundamental Change, Share Exchange Event, or any of
the transactions described in Section 9.04 occurs or becomes effective.

 

“Eligible
Market” means The New York Stock Exchange, Inc., The NASDAQ Global Market, The NASDAQ Global Select Market or The NASDAQ
Capital Market.

 

“Equity
Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any
debt security that is convertible into, or exchangeable for, Capital Stock).

  

“Ex-Dividend
Date” means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable
market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if
applicable, from the seller of Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by
such exchange or market. For the avoidance of doubt, any alternative trading convention on the applicable exchange or market in
respect of shares of the Common Stock under a separate ticker symbol or CUSIP number will not be considered “regular way”
for this purpose.

 

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

 

“Existing
Indebtedness” means Indebtedness of the Company and its Subsidiaries in existence on the date of the Indenture, including,
without limitation, the Company’s 6.5% Convertible Senior Secured Notes due 2023 in an aggregate principal amount not to
exceed $15.0 million, and all guarantees thereof, issued pursuant to that certain Indenture dated as of May 14, 2018, among the
Company, the guarantors named therein, and The Bank of New York Mellon Trust Company, N.A., as trustee and as collateral agent,
as amended, restated, supplemented or otherwise modified from time to time.

 

“Fair
Market Value” means the value that would be paid by a willing buyer to an unaffiliated willing seller in a transaction
not involving distress or necessity of either party, determined in good faith by the Board of Directors of the specified Person
(unless otherwise provided in the Indenture).

 

“Freely
Tradeable” means, with respect to any shares of Common Stock, shares of Common Stock which, at the time of issuance
thereof, (i) are duly authorized, validly issued, fully paid and non-assessable; (ii) are eligible for resale by the recipient
without limitation or restriction, including any volume limitations, under state or Federal securities laws or pursuant to an
effective Registration Statement; and (iii) do not bear, and are not subject to, any restrictive legend, stop transfer or similar
restriction.

 

    -5- 

     

    

 

“Fundamental
Change” shall be deemed to have occurred at the time after the Notes are originally issued if any of the following occurs:

 

(i)          a
“person” or “group” within the meaning of Section 13(d) of the Exchange Act, other than the
Company, its wholly owned Subsidiaries and the employee benefit plans of the Company and its wholly owned Subsidiaries, files
a Schedule TO (or any successor schedule, form or report) or any schedule, form or report under the Exchange Act that discloses
that such person or group has become the direct or indirect Beneficial Owner of Common Stock representing more than 50% of the
voting power of the Common Stock, unless such beneficial ownership arises solely as a result of a revocable proxy delivered in
response to a public proxy or consent solicitation made pursuant to the applicable rules and regulations under the Exchange
Act; provided that no person or group shall be deemed to be the Beneficial Owner of any securities tendered pursuant to
a tender or exchange offer made by or on behalf of such person or group until such tendered securities are accepted for purchase
or exchange under such offer;

 

(ii)         the
consummation of (x) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from
a subdivision or combination or solely a change in par value) as a result of which the Common Stock would be converted into, or
exchanged for, stock, other securities, other property or assets; (y) any share exchange, consolidation or merger of the
Company pursuant to which the Common Stock will be converted into cash, securities or other property or assets; or (C) any
sale, lease or other transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets
of the Company and its Subsidiaries, taken as a whole, to any person other than one or more of the Company’s direct or indirect
wholly owned Subsidiaries; provided, however, that a transaction described in clauses (x) or (y) in
which the holders of all classes of the Company’s Common Equity immediately prior to such transaction own, directly or indirectly,
more than 50% of all classes of Common Equity of the continuing or surviving corporation or transferee or the parent thereof immediately
after such transaction in substantially the same proportions (relative to each other) as such ownership immediately prior to such
transaction shall not be a Fundamental Change pursuant to this clause (ii);

 

(iii)        the
stockholders of the Company approve any plan or proposal for the liquidation or dissolution of the Company; or

 

(iv)        the
Common Stock (or other common stock, American depository receipts, original shares or other Common Equity interests underlying
the Notes) ceases to be listed or quoted on any Eligible Market (or any of their respective successors) or an established over-the-counter
trading market in the United States;

 

provided,
however, that (x) any event, transaction or series of transactions that constitute a Fundamental Change under both
clause (i) and (ii) above (determined without regard to the proviso in clause (ii) above)
will be deemed to be a Fundamental Change solely under clause (ii) above; and (y) a transaction or transactions
described in clause (i) or clause (ii) above shall not constitute a Fundamental Change if at least 90%
of the consideration received or to be received by the common stockholders of the Company, excluding cash payments for fractional
shares and cash payments made pursuant to of dissenters’ appraisal rights, in connection with such transaction or transactions
consists of shares of common stock, American depository receipts, original shares or other Common Equity interests that are listed
or quoted on any of Eligible Markets (or any of their respective successors) or an established over-the-counter trading market
in the United States or will be so listed or quoted when issued or exchanged in connection with such transaction or transactions
and as a result of such transaction or transactions such consideration becomes Reference Property, excluding cash payments for
fractional shares and cash payments made pursuant to dissenters’ appraisal rights (subject to the provisions of Section
9.02(a)). If any transaction in which the Common Stock is replaced by the securities of another entity occurs, following completion
of any related Qualifying Fundamental Change Period (or, in the case of a transaction that would have been a Fundamental Change
or a Qualifying Fundamental Change but for the clause (y) of the proviso immediately following clause (iv) of
the definition thereof, following the effective date of such transaction) references to the Company in this definition shall instead
be references to such other entity.

 

    -6- 

     

    

 

“GAAP”
means generally accepted accounting principles in the United States of America as in effect as of the date of the Indenture, including
those set forth in (1) the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified
Public Accountants, (2) the statements and pronouncements of the Financial Accounting Standards Board, (3) such other statements
by such other entity as approved by a significant segment of the accounting profession and (4) the rules and regulations of the
SEC governing the inclusion of financial statements (including pro forma financial statements) in Registration Statements and
periodic reports required to be filed pursuant to Section 13 of the Exchange Act, including opinions and pronouncements in staff
accounting bulletins and similar written statements from the accounting staff of the SEC.

 

“Global
Notes” means one or more Notes in global form registered in the register in the name of a Depositary or a nominee thereof.

 

“Government
Securities” means securities that are direct obligations of, or obligations guaranteed by, the United States of America,
and the payment for which the United States pledges its full faith and credit.

 

“Guarantee”
means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business), direct
or indirect, in any manner (including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement
agreements in respect thereof), of all or any part of any Indebtedness (whether arising by virtue of partnership arrangements,
or by agreements to keep-well, to purchase assets, goods, securities, or services, to take or pay or to maintain financial statement
conditions or otherwise).

 

“Hedging
Obligations” means, with respect to any specified Person, the obligations of such Person under (i) interest rate swap
agreements (whether from fixed to floating or from floating to fixed), interest rate cap agreements and interest rate collar agreements,
(ii) other agreements or arrangements designed to manage interest rates or interest rate risk, and (iii) other agreements or arrangements
designed to protect such Person against fluctuations in currency exchange rates or commodity prices.

 

“Holder”
means a Person in whose name a Note is registered.

 

“Indebtedness”
means with respect to any specified Person, any indebtedness of such Person (excluding accrued expenses and trade payables that
are not yet overdue by 30 days), whether or not contingent:

 

(i)          in
respect of borrowed money;

 

(ii)         evidenced
by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof);

 

(iii)        in
respect of banker’s acceptances;

 

(iv)        representing
Capital Lease Obligations;

 

(v)         representing
the balance deferred and unpaid of the purchase price of any property or services due more than six months after such property
is acquired or such services are completed;

 

(vi)        representing
any Hedging Obligations; if and to the extent any of the preceding items (other than letters of credit and Hedging Obligations)
would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP; or

 

(vii)      all
Disqualified Stock.

 

    -7- 

     

    

 

In
addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the specified
Person (whether or not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the Guarantee
by or other contingent obligations of the specified Person of any Indebtedness of or relating to or arising from any other Person.

 

“Interest”
or “interest” means, when used with reference to the Notes, the sum of (i) any interest accrued and unpaid
at the Interest Rate pursuant to Section 16.02(a) hereof and (ii) accrued and unpaid Special Interest, if any, pursuant to Section
7.03 hereof.

 

“Interest
Payment Date” means February 28, May 31, August 31 and November 30 of each year until the Stated Maturity with the first
Interest Payment Date being February 28, 2019.

 

“Interest
Rate” means a rate per annum equal to 6.5%.

 

“Investments”
means, with respect to any Person, all direct or indirect investments by such Person in other Persons (including Affiliates) in
the forms of loans (including Guarantees or other obligations), advances or capital contributions (excluding commission, travel
and similar advances to officers and employees made in the ordinary course of business), purchases or other acquisitions for consideration
of Indebtedness, Equity Interests or other securities, together with all items that are or would be classified as investments
on a balance sheet prepared in accordance with GAAP.

 

“Issue
Date” means the date of the first issuance of Notes under the Indenture.

 

“Legal
Holiday” means a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York or at a place of payment
under the Indenture are authorized by law, regulation or executive order to remain closed. If a payment date is a Legal Holiday
at a place of payment under the Indenture, payment may be made at that place on the next succeeding day that is not a Legal Holiday,
and no interest shall accrue on such payment for the intervening period, as more fully described at Section 17.04 hereof. If a
record date is a Legal Holiday, the record date shall not be affected.

 

“Lien”
means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect
of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other
title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest
in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of
any jurisdiction).

 

“Majority
Holders” means the Holders of at least 50.01% in aggregate Principal Amount of the Notes at the time then outstanding.

 

“Market
Disruption Event” means (i) a failure by the Relevant Stock Exchange to open for trading during its regular trading
session or (ii) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Common
Stock, for more than one half-hour period in the aggregate during regular trading hours, of any suspension or limitation imposed
on trading (by reason of movements in price exceeding limits permitted by the Relevant Stock Exchange or otherwise) in the Common
Stock or in any options contracts or futures contracts relating to the Common Stock.

 

“Material
Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations, business,
properties or condition (financial or otherwise) of the Company and its Subsidiaries, taken as a whole; (b) a material impairment
of the ability of the Company or any of its Subsidiaries to perform in any material respect its obligations under any Transaction
Document; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability of any material provision
of any Transaction Document.

 

“Moody’s”
means Moody’s Investors Services, Inc.

 

    -8- 

     

    

 

“Net
Income” means, with respect to any specified Person, the Net Income (loss) of such Person, determined in accordance
with GAAP and before any reduction in respect of preferred stock dividends, excluding, however:

 

(i)          any
gain (but not loss), together with any related provision for taxes on such gain (but not loss), realized in connection with (a)
any Asset Sale or (b) the disposition of any securities by such Person or any of its Subsidiaries or the extinguishment of any
Indebtedness of such Person or any of its Subsidiaries; and

 

(ii)         any
extraordinary gain (but not loss), together with any related provision for taxes on such extraordinary gain (but not loss).

 

“Net
Proceeds” means the aggregate cash proceeds received by the Company or any of its Subsidiaries in respect of any Asset
Sale (including, without limitation, any cash received upon the sale or other disposition of any non-cash consideration received
in any Asset Sale), net of

 

(i)          the
direct costs relating to such Asset Sale, including, without limitation, legal, accounting and investment banking fees, sales
commissions, relocation expenses incurred as a result of the Asset Sale, and taxes paid or payable as a result of the Asset Sale
after taking into account any available tax credits or deductions and any tax sharing arrangements,

 

(ii)         amounts
required to be applied to the repayment of Indebtedness, secured by a Lien that was the subject of such Asset Sale, and

 

(iii)        any
reserve for adjustment in respect of the sale price of such asset or assets established in accordance with GAAP.

 

“Note
Custodian” means the Trustee, as custodian for the Depositary, with respect to the Global Notes, or any successor entity
thereto.

 

“Notes”
has the meaning assigned to it in the preamble to this First Supplemental Indenture.

 

“Obligations”
means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under
the documentation governing any Indebtedness.

 

“Officer”
means, with respect to any Person, the Chair of the Board, the Vice Chair of the Board, the Chief Executive Officer, the President,
the Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary
or any Vice-President of such Person.

 

“Officers’
Certificate” means a certificate signed on behalf of the Company by two Officers of the Company, one of whom must
be the Chief Executive Officer, the Chief Financial Officer or the Treasurer, that meets the requirements of Section 17.06 and
Section 17.07 hereof.

 

“Opinion
of Counsel” means an opinion from legal counsel who is reasonably acceptable to the Trustee, that meets the requirements
of Section 17.06 and Section 17.07 hereof. The counsel may be internal or external counsel to the Company or counsel to the Trustee.

 

“Permitted
Business” means any business similar in nature to any business conducted by the Company or any of its Subsidiaries as
of the date of the Indenture and any business reasonably ancillary, incidental, complimentary or related thereto or a reasonable
extension, development or expansion thereof, in each case, as determined in good faith by the Board of Directors of the Company.

 

“Permitted
Investments” means:

 

(i)          any
Investment in the Company or in a Subsidiary of the Company;

 

    -9- 

     

    

 

(ii)         any
Investment in Cash Equivalents;

 

(iii)        any
Investment by the Company or any Subsidiary of the Company in a Person, if as a result of such Investment: (a) such Person becomes
a Subsidiary of the Company; or (b) such Person is merged, consolidated or amalgamated with or into, or transfers or conveys substantially
all of its assets to, or is liquidated into, the Company or a Subsidiary of the Company;

 

(iv)        any
Investment made as a result of the receipt of non-cash consideration from an Asset Sale that was made pursuant to and in compliance
with Section 5.10 hereof;

 

(v)        any
acquisition of assets or Capital Stock solely in exchange for the issuance of Equity Interests (other than Disqualified Stock)
of the Company;

 

(vi)       any
Investments received in compromise or resolution of litigation, arbitration or other disputes;

 

(vii)      Investments
represented by Hedging Obligations; and

 

(viii)     repurchases
of the Notes in accordance with the terms of the Indenture.

 

“Permitted
Liens” means:

 

(i)         Liens
securing Existing Indebtedness permitted to be incurred pursuant to clause (i) of the definition of “Permitted Debt”;

 

(ii)        [intentionally
omitted];

 

(iii)       Liens
on property, plant or equipment securing Indebtedness represented by Capital Lease Obligations, mortgage financings or purchase
money obligations permitted to be incurred pursuant to clause (iii) of the definition of “Permitted Debt”;

 

(iv)       Liens
in favor of the Company or any Subsidiary;

 

(v)        Liens
to secure the performance of statutory obligations, performance bonds or other obligations of a like nature incurred in the ordinary
course of business;

 

(vi)       Liens
for taxes, assessments or charges, claims or other obligations owed to governmental or quasi-governmental authorities that are
not yet delinquent or that are being contested in good faith by appropriate proceedings promptly instituted and diligently concluded;
provided that any reserve or other appropriate provision as is required in conformity with GAAP has been made therefor;

 

(vii)      Liens
consisting of judgment or judicial attachment liens not constituting an Event of Default hereunder;

 

(viii)     Licenses
of intellectual property granted in accordance with industry practice in the ordinary course of the Company’s business which
(a) do not interfere in any material respect with the ordinary conduct of the business of the Company or any Subsidiaries and
(b) do not secure any Indebtedness;

 

(ix)        leases,
subleases, licenses or sublicenses in the ordinary course of business to third Persons not interfering in any material respect
with the ordinary conduct of the business of the Company or any Subsidiaries and do not secure any Indebtedness;

 

(x)         Liens
in favor of collecting banks arising under Section 4-210 of the Uniform Commercial Code;

 

    -10- 

     

    

 

(xi)        Liens
imposed by law, such as carriers’, warehousemen’s, materialmans’, landlord’s and mechanics’ Liens,
in each case, incurred in the ordinary course of business and securing obligations that are not yet delinquent or that are being
contested in good faith by appropriate proceedings promptly instituted and diligently concluded; provided that any reserve or
other appropriate provision as if required in conformity with GAAP has been made therefor; and

 

(xii)       with
respect to any Real Estate Assets, (a) Liens that would otherwise be permissible under clause (ii), (iii) or (vi) of this definition,
(b) all easements and restrictions of record that would not be reasonably expected to, individually or in the aggregate, materially
impair the value of any real property leased or owned by the Company or materially interfere with its intended use for the Permitted
Business; and (c) such other title and survey exceptions that would not be reasonably expected to, individually or in the aggregate,
materially impair the value of any real property leased or owned by the Company or materially interfere with the Permitted Business.

 

“Permitted
Refinancing Indebtedness” means any Indebtedness of the Company or any of its Subsidiaries issued in exchange for, or
the net proceeds of which are used to renew, refund, refinance, replace, defease or discharge other Permitted Debt of the Company
or any of its Subsidiaries (other than intercompany Indebtedness); provided that

 

(i)          the
principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount
(or accreted value, if applicable) of the Indebtedness renewed, refunded, refinanced, replaced, defeased or discharged (plus all
accrued interest on the Indebtedness and the amount of all fees and expenses, including premiums, incurred in connection therewith);

 

(ii)         such
Permitted Refinancing Indebtedness has a final maturity date later than the final maturity date of, and has a Weighted Average
Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being renewed, refunded,
refinanced, replaced, defeased or discharged;

 

(iii)     
  if the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged is subordinated in right
of payment to the Notes, such Permitted Refinancing Indebtedness has a final maturity date later than the final maturity date
of, and is subordinated in right of payment to, the Notes on terms at least as favorable to the Holders as those contained in
the documentation governing the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged; and

 

(iv)       such
Indebtedness is incurred either by the Company or by the Subsidiary who is the obligor on the Indebtedness being renewed, refunded,
refinanced, replaced, defeased or discharged.

 

“Person”
means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization,
limited liability company, or government or other entity.

 

“Physical
Note” means permanent certificated Note in registered form issued in denomination of $1,000 Principal Amount and integral
multiples thereof.

 

“Principal”
or “Principal Amount” means, when referring to the principal or principal amounts of any Note, as set forth
on the face of the Note as such amount may be reduced by any conversions, redemptions or otherwise pursuant hereto.

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A or 430B promulgated
under the Securities Act), as amended or supplemented by any prospectus supplement, and all other amendments and supplements to
the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by
reference in such Prospectus.

 

    -11- 

     

    

 

“Qualifying
Fundamental Change” means any transaction or event that constitutes a Fundamental Change in clause (i), (ii) or
(iv) of the definition of Fundamental Change (determined after giving effect to any exceptions to or exclusions from
such definition, but without regard to the proviso in clause (ii) of the definition thereof).

 

“Real
Estate Asset” means any interest (fee, leasehold or otherwise) then owned in any land, any improvements, structures
or buildings erected or located on such land, and any equipment located thereon which is so related to such land, improvements,
structures or buildings that it is deemed to be a fixture or otherwise forms part of the real property under the law of the applicable
jurisdiction.

 

“Record
Date” means, with respect to any dividend, distribution or other transaction or event in which the holders of the Common
Stock (or other applicable security) have the right to receive any cash, securities or other property or in which the Common Stock
(or such other security) is exchanged for or converted into any combination of cash, securities or other property, the date fixed
for determination of holders of Common Stock (or such other security) entitled to receive such cash, securities or other property
(whether such date is fixed by the Board of Directors, by statute, by contract or otherwise).

 

“Redemption
Dates” means, collectively, the Event of Default Redemption Date, Fundamental Change Repurchase Date, the Holder Optional
Redemption Date and the Optional Redemption Date, each of the foregoing, individually, a Redemption Date.

 

“Redemption
Prices” means, collectively, the Event of Default Redemption Price, Fundamental Change Repurchase Price, Holder Optional
Redemption Price, and the Optional Redemption Price, each of the foregoing, individually, a Redemption Price.

 

“Registration
Statement” means any registration statement of the Company and any other entity required to be a registrant with respect
to such registration statement pursuant to the requirements of the Securities Act on an appropriate form, and including, in each
case, the Prospectus, amendments and supplements to each such registration statement or Prospectus, including pre- and post-effective
amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in such
registration statement.

 

“Regular
Record Date” and “regular record date” with respect to any Interest Payment Date, means the February
15, May 15, August 15 or November 15 (whether or not such day is a Business Day) immediately preceding the applicable Interest
Payment Date.

 

“Regulation
S” means Regulation S promulgated under the Securities Act (or any successor provision promulgated by the SEC).

 

“Relevant
Stock Exchange” means the NASDAQ Capital Market or, if the Common Stock is not then listed on the NASDAQ Capital Market,
the principal other national or regional securities exchange or market on which the Common Stock is listed or admitted for trading.

 

“Responsible
Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee,
including any vice president, assistant vice president, assistant secretary, senior associate, associate, trust officer or any
other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall
be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity
with the particular subject and who shall have direct responsibility for the administration of the Indenture.

 

“Restricted
Investment” means any Investment other than a Permitted Investment.

 

“Rule
144” means Rule 144 promulgated under the Securities Act (or any successor provision promulgated by the SEC).

 

“Rule
144A” means Rule 144A promulgated under the Securities Act (or any successor provision promulgated by the SEC).

 

    -12- 

     

    

 

“Scheduled
Trading Day” means a day that is scheduled to be a Trading Day on the Relevant Stock Exchange, or if the Common Stock
is not then listed on any Relevant Stock Exchange, a Business Day.

 

“SEC”
means the Securities and Exchange Commission.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Significant
Subsidiary” means any Subsidiary that would be a “significant subsidiary” as defined in Article I, Rule
1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the date of the Indenture.

 

“Stated
Maturity” when used in respect of any Note, means the date specified in such Note as the fixed date on which an amount
equal to the Principal of such Note together with accrued and unpaid Interest, and any other amounts accrued and unpaid hereunder
if any, is due and payable.

 

“Stockholder
Approval” means the affirmative vote of a majority of the voting power of the issued and outstanding Capital Stock of
the Company voting in accordance with the provisions of the Company’s certificate of incorporation and by-laws as in effect
on the date of such vote.

 

“Subsidiary”
means, with respect to any specified Person:

 

(i)          any
corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’
agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation,
association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more
of the other Subsidiaries of that Person (or a combination thereof); and

 

(ii)         any
partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person
or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof).

 

“TIA”
means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date on which the Indenture is
qualified under the TIA.

 

“Trading
Day” means a day on which (i) trading in the Common Stock (or other security for which a closing sale price must be
determined) generally occurs on the Relevant Stock Exchange, or, if the Common Stock (or such other security) is not then listed
on a Relevant Stock Exchange, on the principal other market on which the Common Stock (or such other security) is then traded,
and (ii) a last reported sale price for the Common Stock (or closing sale price for such other security) is available on such
securities exchange or market. If the Common Stock (or such other security) is not so listed or traded “Trading Day”
means a “Business Day.” For purposes of any calculation under the Indenture based upon the Daily VWAP, "Trading
Day” means a scheduled trading day on which (i) there is no Market Disruption Event and (ii) trading in the Common Stock
generally occurs on the Relevant Stock Exchange or, if the Common Stock is not then listed on a Relevant Stock Exchange, on the
principal other market on which the Common Stock is then listed or admitted for trading. If the Common Stock is not so listed
or admitted for trading, “Trading Day” means a “Business Day.”

 

“Transaction
Documents” means the Indenture and the Notes.

 

“Trustee”
means The Bank of New York Mellon Trust Company, N.A., until a successor replaces it in accordance with the applicable provisions
of the Indenture and thereafter means the successor serving hereunder.

 

“Underwriting
Agreements” means, collectively, the Underwritings Agreements dated as of October 19, 2018, among the Company and Oppenheimer
& Co., Inc., as representative of the underwriters named therein, as such agreements may be amended, modified or supplemented
from time to time in accordance with their terms.

 

    -13- 

     

    

 

“Voting
Stock” of any specified Person as of any date means the Capital Stock of such Person that is at the time entitled to
vote in the election of the Board of Directors of such Person.

 

“Weighted
Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing:
(a) the sum of the products obtained by multiplying (x) the amount of each then remaining installment, sinking fund, serial maturity
or other required payments of principal, including payment at final maturity, in respect of the Indebtedness, by (y) the number
of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment, by (b) the
then outstanding principal amount of such Indebtedness.

 

Section
1.03         Other Definitions.

 

	Term	 	Defined
    in Section
	1%
    Provision	 	9.04
	Act	 	2.05
	Affiliate
    Transaction	 	5.11
	Agent
    Members	 	2.15
	Applicable
    Law	 	17.19
	Asset
    Sale	 	5.10
	Authentication
    Order	 	2.02
	Base
    Indenture	 	Preamble
	Cash
    Interest	 	16.02
	Clause
    A Distribution	 	9.04
	Clause
    B Distribution	 	9.04
	Clause
    C Distribution	 	9.04
	Conversion
    Agent	 	2.03
	Conversion
    Date	 	9.02
	Conversion
    Limitation	 	9.02
	Conversion
    Obligation	 	9.01
	Conversion
    Rate	 	9.01
	Convertible
    Securities	 	9.04(i)(iv)
	Covenant
    Defeasance	 	11.02
	Distributed
    Property	 	9.04(c)
	Effective
    Time	 	9.04(i)(iv)
	Event
    of Default	 	7.01
	Event
    of Default Redemption Price	 	7.02
	First
    Supplemental Indenture	 	Preamble
	Form
    of Note	 	2.01
	Fundamental
    Change Company Notice	 	10.01
	Fundamental
    Change Repurchase Date	 	10.01
	Fundamental
    Change Repurchase Notice	 	10.01
	Fundamental
    Change Repurchase Price	 	10.01
	Expiration
    Date	 	9.04
	Holder
    Optional Redemption	 	3.08
	Holder
    Optional Redemption Date	 	3.08
	Holder
    Optional Redemption Notice	 	3.08
	Holder
    Optional Redemption Price	 	3.08
	incur	 	5.09
	Indenture	 	Preamble
	indenture
    securities	 	1.04
	indenture
    security Holder	 	1.04
	indenture
    to be qualified	 	1.04
	indenture
    trustee	 	1.04
	institutional
    trustee	 	1.04
	Interest
    Make-Whole Payment	 	3.07(b)
	Make-Whole
    VWAP Price	 	3.07

	Maximum
    Share Reserve	 	9.06
	Notice
    of Conversion	 	9.02
	obligor	 	1.04
	Optional
    Redemption Date	 	3.03
	Optional
    Redemption Notice	 	3.03
	Optional
    Redemption Price	 	3.07
	Optional
    Redemption Right	 	3.07
	Options	 	9.04(i)(iii)
	Paying
    Agent	 	2.03
	Payment
    Default	 	7.01
	Permitted
    Asset Sale	 	5.10
	Permitted
    Debt	 	5.09
	Qualifying
    Fundamental Change Company Notice	 	9.03
	Qualifying
    Fundamental Change Payment	 	9.03
	Qualifying
    Fundamental Change Payment Price	 	9.03
	Qualifying
    Fundamental Change Period	 	9.03
	Reference
    Property	 	9.07
	Registrar	 	2.03
	Repurchase
    Notice	 	3.08
	Restricted
    Payments	 	5.07
	Securities
    Register	 	2.03
	Share
    Exchange Event	 	9.07
	Special
    Interest	 	7.03
	Spinoff
    	 	9.04
	Stock
    Price	 	9.03
	Surviving
    Entity	 	6.01
	Trigger
    Event	 	9.04
	unit
    of Reference Property	 	9.07
	Valuation
    Period	 	9.04

 

    -14- 

     

    

 

Section
1.04     Incorporation by Reference of Trust Indenture Act.

 

Whenever
the Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of the Indenture.

 

The
following TIA terms used in the Indenture have the following meanings:

 

“indenture
securities” means the Notes;

 

“indenture
security Holder” means a Holder of a Note;

 

“indenture
to be qualified” means the Indenture;

 

“indenture
trustee” or “institutional trustee” means the Trustee; and

 

“obligor”
on the Notes means the Company, and any successor obligor upon the Notes.

 

All
other terms used in the Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule
under the TIA have the meanings so assigned to them.

 

Section
1.05     Rules of Construction.

 

Unless
the context otherwise requires:

 

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

 

    -15- 

     

    

 

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

 

(c)       “or”
is not exclusive;

 

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

 

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

 

(f)        references
to sections of or rules under the TIA, the Securities Act or the Exchange Act shall be deemed to include substitute, replacement
of successor sections or rules adopted by the SEC from time to time.

 

ARTICLE
2.

THE NOTES

 

Section
2.01     Title, Terms, Form and Dating.

 

(a)       The
Notes shall be known and designated as the “6.5% Convertible Senior Notes Due 2023” of the Company. The Principal
Amount shall be payable on the Stated Maturity or on an applicable Redemption Date or as otherwise provided under the Indenture.

 

(b)       Notwithstanding
anything in the Base Indenture to the contrary, the Notes and the Trustee’s certificate of authentication shall be substantially
in the form of Exhibit A hereto (the “Form of Note”). The Notes may have notations, legends or endorsements
required by law, stock exchange rule or usage. Each Note shall be dated the date of its authentication. The Notes shall be in
denominations of $1,000 and integral multiples thereof.

 

(c)       The
terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of the Indenture and the Company
and the Trustee, by their execution and delivery of the Indenture, expressly agree to such terms and provisions and to be bound
thereby. However, to the extent any provision of any Note conflicts with the express provisions of the Indenture, the provisions
of the Indenture shall govern and be controlling.

 

Section
2.02     Execution and Authentication.

 

The
Notes shall be executed on behalf of the Company by the Chief Executive Officer, the Chief Financial Officer, the President, or
any Vice President, the Treasurer or the Corporate Secretary of the Company. The signatures of any of these officers on the Securities
may be manual or facsimile.

 

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

 

A
Note shall not be valid until authenticated by the manual signature of the Trustee. The signature shall be conclusive evidence
that the Note has been authenticated under the Indenture. The Trustee shall, upon a written order of the Company signed by two
Officers (an “Authentication Order”) accompanied by an Officers’ Certificate, authenticate Notes for
original issue up to the aggregate Principal Amount of $10.0 million.

 

The
Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. An authenticating agent may authenticate
Notes whenever the Trustee may do so. Each reference in the Indenture to authentication by the Trustee includes authentication
by such agent. An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the Company.

 

    -16- 

     

    

 

Section
2.03     Registrar, Paying Agent and Conversion Agent. The following provision, together with Section
2.06 hereof, replaces Section 3.5 of the Base Indenture with respect to the Notes.

 

The
Company shall maintain an office or agency in The City of New York where Notes may be presented for registration of transfer or
for exchange (“Registrar”), an office or agency where Notes may be presented for payment (“Paying
Agent” or “paying agent”) and an office or agency where the Notes may be presented for conversion (“Conversion
Agent”). The Registrar shall keep a register of the Notes and of their transfer and exchange (the “Securities
Register”). The Company may appoint one or more co-registrars and one or more additional paying agents and conversion
agents. The term “Registrar” includes any co-registrar, the term “Paying Agent” includes any additional
paying agent, and the term “Conversion Agent” includes any additional conversion agent. The Company may change any
Paying Agent, Registrar or Conversion Agent without notice to any Holder. The Company shall notify the Trustee in writing of the
name and address of any Agent not a party to the Indenture. If the Company fails to appoint or maintain another entity as Registrar
or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar.

 

The
Company initially appoints the Trustee to act as the Registrar, Paying Agent and Conversion Agent.

 

Section
2.04     Paying Agent to Hold Money in Trust. The following provision replaces Section 9.3 of the Base
Indenture with respect to the Notes:

 

The
Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for
the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of Principal, premium, if any, Interest
or any other amounts due on the Notes, and will notify the Trustee, in writing, of any default by the Company in making any such
payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee.
The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee,
the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the money. If the Company or
a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money
held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee shall serve
as Paying Agent for the Notes.

 

Section
2.05     Holder Lists; Acts. The following provision replaces Section 1.4 and Section 6.7 of the Base Indenture
with respect to the Notes:

 

(a)       The
Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and
addresses of all Holders and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company shall
furnish to the Trustee at least seven Business Days before each Interest Payment Date and at such other times as the Trustee may
request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of
the Holders of Notes and the Company shall otherwise comply with TIA § 312(a).

 

(b)       Any
request, demand, authorization, direction, notice, consent, waiver or other action provided by the Indenture to be given or taken
by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in
person or by agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective
when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such
instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the "Act"
of Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such
agent shall be sufficient for any purpose of the Indenture and conclusive in favor of the Trustee and the Company, if made in
the manner provided in this Section.

 

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

 

    -17- 

     

    

 

(d)       The
ownership of the Notes shall be proved by the Register.

 

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

 

(f)       If
the Company shall solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other Act,
the Company may, at its option, by or pursuant to a resolution of its Board of Directors, fix in advance a record date for the
determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act,
but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction,
notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the close
of business on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite
proportion of the then outstanding Notes have authorized or agreed or consented to such request, demand, authorization, direction,
notice, consent, waiver or other Act, and for that purpose the then outstanding Notes shall be computed as of such record date;
provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless
it shall become effective pursuant to the provisions of the Indenture not later than six months after the record date.

 

Section
2.06     Transfer and Exchange. The following provision, together with Section 2.03 hereof, replaces
Section 3.5 of the Base Indenture with respect to the Notes.

 

(a)       When
a Note is presented to a Registrar, at the office of the Registrar, with a request to register a transfer thereof or to exchange
such Note for an equal Principal Amount of Notes of other authorized denominations, the Registrar shall register the transfer
or make the exchange as requested; provided, however, that every Note presented or surrendered for registration of transfer
or exchange shall be duly endorsed or accompanied by an assignment form and, if applicable, an appropriately completed certificate
of transfer in the form set forth in Attachment 4 to the Form of Note attached hereto as Exhibit A, and in form satisfactory to
the Registrar duly executed by the Holder thereof or its attorney duly authorized in writing. To permit registration of transfers
and exchanges, upon surrender of any Note for registration of transfer or exchange at an office or agency maintained pursuant
to Section 2.03, the Company shall execute and the Trustee shall authenticate Notes of a like aggregate Principal Amount at the
Registrar’s request. Any exchange or transfer shall be without charge, except that the Company or the Registrar may require
payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto other than any
tax or other governmental charge payable upon any exchange or transfer pursuant to Section 2.10, Section 3.07, ARTICLE 10 and
Section 12.05.

 

(b)       The
Company shall not be required (A) to issue, to register the transfer of or to exchange any Notes during a period beginning at
the opening of business 15 days before the day of any selection of Notes for repurchase under Section 3.07 hereof and ending at
the close of business on the day of selection, (B) to register the transfer of or to exchange any Note so selected for repurchase
in whole or in part, except the unpurchased portion of any Note being redeemed in part or (C) to register the transfer of or to
exchange a Note between a Regular Record Date and the next succeeding Interest Payment Date set forth on the face of such Note.

 

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

 

(d)       Any
Registrar appointed pursuant to Section 2.03 hereof shall provide to the Trustee such information as the Trustee may reasonably
require in connection with the delivery by such Registrar of Notes upon transfer or exchange of Notes.

 

    -18- 

     

    

 

(e)       Each
Holder agrees to indemnify the Company and the Trustee against any liability that may result from the transfer, exchange or assignment
of such Holder’s Notes in violation of any provision of the Indenture and/or applicable United States Federal or state securities
law.

 

(f)       The
Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed
under the Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers
between or among Agent Members or book-entry interests) other than to require delivery of such certificates and other documentation
or evidence as are expressly required by, and to do so if and when expressly required by the terms of, the Indenture, and to examine
the same to determine substantial compliance as to form with the express requirements hereof.

 

(g)       Prior
to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Company may deem and treat the
Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of Principal
of and Interest and any other amounts due on such Notes and for all other purposes, and none of the Trustee, any Agent or the
Company shall be affected by notice to the contrary.

 

(h)       All
certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to
effect a registration of transfer or exchange may be submitted by facsimile.

 

Section
2.07     Replacement Notes. The following provision replaces Section 3.6 of the Base Indenture with respect
to the Notes:

 

If
any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction of the destruction,
loss or theft of any Note, the Company shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate
a replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Company, an indemnity bond must
be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee,
any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced. The Company may charge
for its expenses in replacing a Note.

 

Section
2.08     Outstanding Notes.

 

The
Notes outstanding at any time are all the Notes authenticated by the Trustee, except for those canceled by it, those converted
pursuant to ARTICLE 9, those delivered to it for cancellation, and those described in this Section as not outstanding. Except
as set forth in Section 2.09 hereof, a Note does not cease to be outstanding because the Company or an Affiliate of the Company
holds the Note.

 

If
a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory
to it that the replaced Note is held by a bona fide purchaser.

 

If
the entire Principal, accrued and unpaid Interest on such Principal and any other amounts due on any Note is considered paid under
Section 5.01 hereof, such Note ceases to be outstanding and Interest on it ceases to accrue.

 

If
the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof) holds, on a Redemption Date or Stated Maturity,
money sufficient to pay all Notes payable on that date, then on and after that date such Notes shall be deemed to be no longer
outstanding and shall cease to accrue Interest.

 

Section
2.09      Treasury Notes.

 

In
determining whether the Holders of the requisite Principal Amount of outstanding Notes are present at a meeting of Holders of
Notes for quorum purposes or have consented to or voted in favor of any request, demand, authorization, direction, notice, consent,
waiver, amendment or modification hereunder, Notes held for the account of the Company, or for any Person directly or indirectly
controlling or controlled by or under direct or indirect common control with the Company, shall be disregarded and deemed not
to be outstanding, except that in determining whether the Trustee shall be protected in making such a determination or relying
upon any such quorum, consent or vote, only Notes which a Responsible Officer of the Trustee actually knows to be so owned shall
be so disregarded.

 

    -19- 

     

    

 

Section
2.10     Temporary Notes. The following provision replaces Section 3.4 of the Base Indenture with respect
to the Notes.

 

Until
certificates representing Notes are ready for delivery, the Company may prepare and the Trustee, upon receipt of an Authentication
Order, shall authenticate temporary Notes. Temporary Notes shall be substantially in the form of certificated Notes but may have
variations that the Company considers appropriate for temporary Notes and as shall be reasonably acceptable to the Trustee. Without
unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Notes in exchange for temporary Notes
without charge to the Holders.

 

Holders
of temporary Notes shall be entitled to all of the benefits of the Indenture as Physical Notes.

 

Section
2.11     Cancellation. The following provision replaces Section 3.9 of the Base Indenture with respect
to the Notes.

 

The
Company shall cause all Notes surrendered for the purpose of payment, repurchase, registration of transfer or exchange or conversion,
if surrendered to the Company or any of the Company’s agents, Subsidiaries or Affiliates, including the Registrar, Paying
Agent and Conversion Agent, to be surrendered to the Trustee for cancellation. All Notes delivered to the Trustee shall, upon
receipt of a written request in a Company Order, be canceled promptly by it. Except for any Notes surrendered for registration
of transfer or exchange, or as otherwise expressly permitted by any of the provisions of the Indenture, no Notes shall be authenticated
in exchange for any Notes surrendered to the Trustee for cancellation. The Trustee shall cancel Notes in accordance with its customary
procedures and, after such cancellation, shall deliver evidence of such cancellation to the Company, at the Company’s written
request in a Company Order. Except as otherwise provided in the Indenture, the Company may not issue new Notes to replace Notes
that it has paid or that have been delivered to the Trustee for cancellation, or that any Holder has converted pursuant to ARTICLE
9 hereof.

 

Section
2.12     Repurchases.

 

The
Company may, to the extent permitted by law, and directly or indirectly (regardless of whether such Notes are surrendered to the
Company), repurchase Notes in the open market or otherwise, whether by the Company or its Subsidiaries or through a privately
negotiated transaction or public tender or exchange offer or through counterparties to private agreements, including by cash-settled
swaps or other derivatives, in each case, without prior notice to the Holders. The Company shall cause any Notes so repurchased
(other than Notes repurchased pursuant to cash-settled swaps or other derivatives) to be surrendered to the Trustee for cancellation
in accordance with Section 2.11 and such Notes shall no longer be considered outstanding under the Indenture upon their repurchase.

 

Section
2.13     [Intentionally Omitted].

 

Section
2.14     CUSIP Numbers.

 

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

 

    -20- 

     

    

 

Section
2.15     Book-Entry Provisions for Global Notes. The following provision replaces Section 2.3 of the
Base Indenture with respect to the Notes:

 

(a)       The
Global Note initially shall (i) be registered in the name of the Depositary or the nominee of such Depositary, (ii) be delivered
to the Trustee as custodian for the Depositary and (iii) bear legends as set forth on the face of the Form of Note. The transfer
and exchange of book-entry interests shall be effected through the Depositary, in accordance with the provisions of the Indenture
and its Applicable Procedures. Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken
by the Depositary.

 

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

 

(c)       Transfers
of the Global Note shall be limited to transfers in whole, but not in part, to the Depositary, its successors or their respective
nominees. Interests of Beneficial Owners in a Global Note may be transferred or exchanged, in whole or in part, for Physical Notes
in accordance with the rules and procedures of the Depositary. In addition, Physical Notes shall be transferred to all Beneficial
Owners in exchange for their beneficial interests in the Global Note if (A) such Depositary has notified the Company (or the Company
becomes aware) that the Depositary (i) is unwilling or unable to continue as Depositary for such Global Note or (ii) has ceased
to be a clearing agency registered under the Exchange Act when the Depositary is required to be so registered to act as such Depositary
and, in either such case, no successor Depositary shall have been appointed within 90 days of such notification or of the Company
becoming aware of such event; or (B) there shall have occurred and be continuing an Event of Default in respect of such Global
Note and the outstanding Notes shall have become due and payable pursuant to Section 7.02 and the Holders request that Physical
Note be issued; provided that Holders of Physical Note offered and sold in reliance on Rule 144A shall have the right, subject
to applicable law, to request that such Notes be exchanged for interests in the applicable Global Note.

 

(d)       In
connection with any transfer or exchange of a portion of the beneficial interest in the Global Note to Beneficial Owners pursuant
to clause (c) of this Section 2.15, the Registrar shall (if one or more Physical Notes are to be issued) reflect on its books
and records the date and a decrease in the Principal Amount of the Global Note in an amount equal to the Principal Amount of the
beneficial interest in the Global Note to be transferred, and the Company shall execute, and the Trustee shall authenticate and
deliver, one or more Physical Notes of like tenor and amount.

 

(e)       In
connection with the transfer of the entire Global Note to Beneficial Owners pursuant to clause (c) of this Section 2.15, the Global
Note shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall authenticate
and deliver, to each Beneficial Owner identified by the Depositary in exchange for its beneficial interest in the Global Note,
an equal aggregate Principal Amount of Physical Notes of authorized denominations and the same tenor.

 

(f)       [Intentionally
Omitted]

 

(g)       The
Holder of the Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold
interests through Agent Members, to take any action which a Holder is entitled to take under the Indenture or the Notes.

 

(h)       The
Trustee shall have no responsibility or obligation to any Beneficial Owner of a Global Note, a member or, or a participant in
the Depositary or other Person in respect of the accuracy of the books or records, or the acts or omissions, of the Depositary
or its nominee or of any participant or member thereof, in respect of any ownership interest in the Notes or in respect of the
delivery to any participant, member, Beneficial Owner or other Person (other than the Depositary) of any notice (including any
notice of redemption) or the payment of any amount, under or in respect of such Notes. All notices and communications to be given
to the Holders and all payment to be made to Holders under the Notes shall be given or made only to or upon the order of the registered
Holders (which shall be the Depositary or its nominee in the case of a Global Note). The rights of Beneficial Owners in any Global
Note shall be exercised only through the Depositary subject to its Applicable Procedures. The Trustee may rely on information
furnished by the Depositary in respect of its Agent Members and any Beneficial Owners.

 

    -21- 

     

    

 

Section
2.16     Ranking. The Notes constitute a senior general unsecured obligation
of the Company, ranking equally in right of payment with all existing and future senior unsecured indebtedness of the Company
and ranking senior in right of payment to any future indebtedness of the Company that is expressly made subordinate to the Notes
by the terms of such indebtedness.

 

ARTICLE
3.

REDEMPTION AND PREPAYMENT

 

Article
X of the Base Indenture is hereby replaced in full, solely with respect to the Notes, with the following:

 

Section
3.01     Notices to Trustee.

 

If
the Company elects to exercise the Optional Redemption Right pursuant to Section 3.07 hereof, it shall notify the Trustee and
the Registrar in writing at least 5 Business Days prior to the date that any Optional Redemption Notice is sent to the Holders
(unless the Trustee consents to a shorter period) of the Optional Redemption Date, the Principal Amount of the Notes to be redeemed,
and the amount of the Interest Make-Whole Payment, together with an Officers’ Certificate that all conditions precedent
with respect to such redemption contained in Section 3.07 have been satisfied and that such redemption will comply with the Indenture.

 

Section
3.02     Selection of Notes To Be Redeemed.

 

In
the case of any partial redemption, selection of the Notes for redemption will be made, with respect to Global Notes, in accordance
with the Applicable Procedures of the Depositary and, with respect to Physical Notes, by lot, pro rata or by such other method
as Trustee deems fair and reasonable. The Notes or portions of them selected will be redeemed in Principal Amounts of $1,000 or
a whole multiple of $1,000. Provisions of the Indenture that apply to Notes called for redemption also apply to portions of Notes
called for redemption. The Trustee shall notify the Company promptly of the Notes or portions of Notes to be redeemed. The Trustee
may rely upon information provided by the Registrar for purposes of this Section 3.02.

 

If
any portion of a Note selected for partial redemption is converted in part before termination of the conversion right in respect
of the portion of the Note so selected, the converted portion of such Note shall be deemed (so far as may be) to be the portion
selected for redemption such that the amount designated for partial redemption shall be reduced by the amount so converted. With
respect to Physical Notes, Notes which have been converted during a selection of Notes to be redeemed may be treated by the Trustee
as outstanding for the purpose of such selection.

 

Section
3.03     Notice of Redemption.

 

At
least 30 days but not more than 60 days before an Optional Redemption Date, the Company shall deliver a notice of redemption (an
“Optional Redemption Notice“) (with a copy to the Trustee) to each Holder of Notes to be redeemed at such Holder’s
registered address.

 

The
Optional Redemption Notice shall identify the Notes to be redeemed and shall state:

 

(i)          each
date when, pursuant to the provisions of Section 3.07 hereof, the Company elects to redeem the Notes in whole or in part (the
“Optional Redemption Date”);

 

(ii)         the
Optional Redemption Price;

 

    -22- 

     

    

 

(iii)        the
Conversion Price;

 

(iv)        the
amount, form and procedures for payment of the Interest Make-Whole Payment;

 

(v)        the
name and address of the Paying Agent where Notes are to be surrendered;

 

(vi)       that
Notes called for redemption may be converted at any time prior to the close of business on the Business Day immediately preceding
the Optional Redemption Date;

 

(vii)       that
Notes called for redemption must be surrendered to the Paying Agent to collect the Optional Redemption Price and the Interest
Make-Whole Payment;

 

(viii)     if
fewer than all the outstanding Notes are to be redeemed, the identification and Principal Amounts of the particular Notes to be
redeemed;

 

(ix)        that,
unless the Company defaults in making such redemption payment or Interest Make-Whole Payment, Interest on Notes (or portion thereof)
called for redemption ceases to accrue on and after the Optional Redemption Date; and

 

(x)         the
CUSIP number or ISIN number, if any, printed on the Notes being redeemed.

 

At
the Company’s request, the Trustee shall give the Optional Redemption Notice in the Company’s name and at the Company’s
expense. In such event, the Company shall provide the Trustee with the information required by this Section 3.03.

 

The
Company will issue a press release if the Notes are redeemed.

 

Section
3.04     Effect of Notice of Redemption.

 

Once
an Optional Redemption Notice is delivered to the Holders, the Notes (or portions thereof) called for redemption shall become
irrevocably due and payable on the Optional Redemption Date and at the Optional Redemption Price, together with the Interest Make-Whole
Payment, each as stated in the Optional Redemption Notice. An Optional Redemption Notice may not be conditional and shall be irrevocable.
Upon surrender to the Paying Agent, such Notes shall be paid on the Optional Redemption Date at the Optional Redemption Price,
together with the Interest Make-Whole Payment, each as stated in the Optional Redemption Notice; provided that if the Optional
Redemption Date is on or after a regular record date and on or prior to the Interest Payment Date, the accrued and unpaid Interest
shall be payable to the Holder of the redeemed Notes registered on the regular record date. Failure to give notice or any defect
in the notice to any Holder shall not affect the validity of the notice to any other Holder.

 

Section
3.05     Deposit of Redemption Price and Interest Make-Whole Payment.

 

No
later than 11:00 a.m. (New York City time) on the Business Day prior to the date on which any Redemption Price on any Note is
due and payable, the Company shall deposit with the Paying Agent (or, if the Company or a Subsidiary is the Paying Agent, shall
segregate and hold in trust) money sufficient to pay the Redemption Price and any Interest Make-Whole Payment to be paid in cash
on all Notes to be redeemed on the applicable Redemption Date other than Notes or portions of Notes called for redemption which
are owned by the Company or a Subsidiary and have been delivered by the Company or such Subsidiary to the Trustee for cancellation.
If the Company complies with the provisions of this Section 3.05, then on and after the applicable Redemption Date, Interest will
cease to accrue on the Notes (or portions of the Notes) called for redemption.

 

    -23- 

     

    

 

Section
3.06     Notes Redeemed in Part.

 

Upon
cancellation of a Note that is redeemed in part, the Company shall issue and the Trustee shall authenticate for the Holder (at
the Company’s expense) a new Note equal in Principal Amount to the unredeemed portion of the Note surrendered. The Trustee
shall notify the Registrar of the issuance of such new Note.

 

Section
3.07     Optional Redemption by the Company.

 

(a)       The
Notes may not be redeemed at the option of the Company pursuant to the Indenture at any time prior to November 30, 2019. At any
time and from time to time on or after November 30, 2019 the Company shall have the right to redeem (the “Optional Redemption
Right”) all or any portion of the Notes at a redemption price (the “Optional Redemption Price”) equal
to 100% of the Principal Amount plus accrued and unpaid Interest on such Principal, if any, up to the Optional Redemption Date,
as follows:

 

(i)          on
or after November 30, 2019, if the Closing Sale Price of the Common Stock is greater than 175% of the then effective Conversion
Price for each of 20 of any 30 consecutive Trading Days immediately preceding the applicable Optional Redemption Notice;

 

(ii)         on
or after November 30, 2020, if the Closing Sale Price of the Common Stock is greater than 150% of the then effective Conversion
Price for each of 20 of any 30 consecutive Trading Days immediately preceding the applicable Optional Redemption Notice;

 

(iii)        on
or after November 30, 2021, if the Closing Sale Price of the Common Stock is greater than 125% of the then effective Conversion
Price for each of 20 of any 30 consecutive Trading Days immediately preceding the applicable Optional Redemption Notice.

 

(b)       If
the Company elects to exercise the Optional Redemption Right pursuant to this Section 3.07, then on the Optional Redemption
Date, the Company shall make a payment as provided in the penultimate paragraph of this Section 3.07 to the Holder of such redeemed
Notes equal to the sum of the remaining scheduled payments of interest that would have been made on the Notes to be redeemed had
such Notes remained outstanding from the Optional Redemption Date through, and including the Stated Maturity (the “Interest
Make-Whole Payment”)

 

If
an Optional Redemption Date occurs after the close of business on a Regular Record Date but prior to the open of business on the
Interest Payment Date corresponding to such Regular Record Date, the Interest Make-Whole Payment will not include the accrued
interest to any Holder of Notes called for redemption and instead the Company will pay the full amount of the relevant interest
payment on such Interest Payment Date to the Holder of record on such Regular Record Date. In such case, the Interest Make-Whole
Payment to such Holders of Notes called for redemption will equal the value of all remaining interest payments, starting with
the next Interest Payment Date for which interest has not been provided for through the Stated Maturity.

 

The
Company will pay any Interest Make-Whole Payment in cash; provided, however, that so long as the Make-Whole VWAP Price (as defined
below) is not less than $5.01 per share (as appropriately adjusted for any stock split, reverse stock split, stock dividend or
other reclassification or combination of the Company’s Common Stock occurring after the date of issuance of the Notes),
the Company will have the option, by providing written notice to the Trustee of its election at least ten (10) Business Days prior
to the Optional Redemption Date (it being agreed that the Company, by subsequent written notice to the Trustee, may change its
election at any time through the Business Day immediately preceding the Optional Redemption Date), to pay any Interest Make-Whole
Payment in cash and/or by delivering Freely Tradeable Common Stock. For all time periods, the number of shares of Freely Tradeable
Common Stock to be issued to any Holder of Notes called for redemption will be, as determined by the Company, the number of shares
equal to the amount of the Interest Make-Whole Payment to be paid in Freely Tradeable Common Stock to such Holder, divided by
the product of (x) 95% and (y) the simple average of the Daily VWAP of the Common Stock for the ten consecutive Trading
Days ending on and including the Trading Day immediately preceding the Optional Redemption Date (such product, the “Make-Whole
VWAP Price”).

 

    -24- 

     

    

 

If
the Company has failed to pay any Interest or premium on the Notes and such failure to pay is continuing, the Company may not
redeem the Notes.

 

Section
3.08     Offer to Repurchase upon Election of Holder.

 

(a)       Subject
to receipt of the Holder Optional Redemption Notice, all (but not less than all) of the Notes of any Holder shall be repurchased
by the Company, at the option of such Holder, on November 30, 2021 (the “Holder Optional Redemption Date”)
at a purchase price in cash equal to 100% of the Principal Amount of the Notes to be repurchased together with Interest accrued
and unpaid to (and including) the Holder Optional Redemption Date (the “Holder Optional Redemption Price”);
provided, however, if the Holder Optional Redemption Date falls after a Regular Record Date but on or before the related Interest
Payment Date, then the Interest on the Notes payable on such date shall be payable to the Holders in whose name the Notes were
registered at the close of business on such Regular Record Date.

 

(b)       Not
more than 60 days and not less than 20 Business Days prior to the Holder Optional Redemption Date, the Company, or, at the written
request and expense of the Company, the Trustee, shall send a written notice of the Holder Optional Redemption Date (the “Holder
Optional Redemption Notice”) to the Trustee (if the Trustee does not send such notice), the Paying Agent, the Conversion
Agent, the Registrar and to each Holder. The Holder Optional Redemption Notice shall include the form of a Repurchase Notice to
be completed by the Holder and shall state: 

 

(i)          the
date by which a Repurchase Notice pursuant to this Section 3.08 must be given; 

 

(ii)         the
Holder Optional Redemption Date;

 

(iii)        the
Holder Optional Redemption Price;

 

(iv)       the
Holder’s right to require the Company to repurchase the Notes;

 

(v)        briefly,
the conversion rights of the Notes;

 

(vi)       the
name and address of each Paying Agent and Conversion Agent;

 

(vii)      the
Conversion Price (including any adjustments thereto);

 

(viii)     that,
the Notes as to which a Holder Optional Redemption Notice has been given may be converted into Cash and Common Stock (if any)
pursuant to ARTICLE 9 of this First Supplemental Indenture only to the extent that the Holder Optional Redemption Notice has been
withdrawn in accordance with the terms of the Indenture; 

 

(ix)        that,
unless the Company defaults in making the payment of the Redemption Price, interest on Notes called for repurchase shall cease
to accrue on and after the Redemption Date and the only remaining right of the Holder shall be to receive payment of the Redemption
Price payable to such Holder upon presentation and surrender to a Paying Agent of the Notes;

 

(x)         the
procedures that the Holder must follow to exercise rights under this Section 3.08;

 

(xi)        the
procedures for withdrawing a Repurchase Notice, including a form of notice of withdrawal;

 

(xii)       that
the Holder must satisfy the requirements set forth in the Notes and ARTICLE 9 hereof in order to convert the Notes; and

 

    -25- 

     

    

 

(xiii)      the
CUSIP and/or ICIN numbers of the Notes. 

 

If
any of the Notes is in the form of a Global Note, then the Company shall modify such notice to the extent necessary to accord
with the Applicable Procedures of the Depositary.

 

 

 

(c)       A
Holder may exercise its rights specified in this Section 3.08 (a “Holder Optional Redemption”), in the case
of Physical Notes, upon delivery of a written notice to the Trustee (which shall be in substantially the form included as Attachment
2 to the Form of Note attached hereto as Exhibit A hereto and which may be delivered by letter, overnight courier, hand delivery,
facsimile transmission or in any other written form and, in the case of Global Notes, may be delivered electronically or by other
means in accordance with the Applicable Procedures of the Depositary) of the exercise of such rights (a “Repurchase Notice”)
at any time prior to the close of business on the second Business Day immediately preceding the Holder Optional Redemption Date. 

 

(i)          The
delivery of all Notes of a Holder to any Paying Agent (together with all necessary endorsements) at the office of such Paying
Agent shall be a condition to the receipt by a Holder of the Holder Optional Redemption Price therefor.

 

(ii)         Notwithstanding
anything herein to the contrary, any Holder delivering to the Trustee (or, in the case of the Global Notes, otherwise in accordance
with the Applicable Procedures of the Depositary) the Repurchase Notice contemplated by Section 3.08(c) shall have the right to
withdraw such Repurchase Notice at any time prior to 5:00 p.m., New York City time, on the second Business Day next preceding
the Holder Optional Redemption Date by delivery of a written notice of withdrawal to the Trustee (or, in the case of the Global
Notes, otherwise in accordance with the Applicable Procedures of the Depositary).

 

(iii)   
    The Trustee shall promptly notify the Company of the receipt by it of any Repurchase Notice or written
withdrawal thereof.

 

(iv)   
    Anything herein to the contrary notwithstanding, in the case of Global Notes, any Repurchase Notice may
be delivered or withdrawn and such Notes may be surrendered or delivered for repurchase in accordance with the Applicable Procedures
of the Depositary. 

 

(d)       The
Company shall deliver the applicable Holder Optional Redemption Price to the Paying Agent no later than 11:00 a.m. Eastern Time
on the Business Day prior to the Holder Optional Redemption Date.

 

ARTICLE
4.

[INTENTIONALLY OMMITTED]

 

ARTICLE
5.

COVENANTS

 

Article IX
of the Base Indenture is hereby supplemented, with respect to the Notes, to add or, if indicated, replace the following covenants:

 

 

 

Section
5.01     Payment of Notes. The following covenant replaces Section 3.11 and Section 9.1 of the Base
Indenture with respect to the Notes:

 

The
Company shall pay or cause to be paid the Principal of, premium, if any, Redemption Price, if applicable, Interest and any other
amounts to be paid on the Notes on the dates and in the manner provided in the Indenture and the Notes. Principal, premium, if
any, Redemption Price, if applicable, Interest and any other amounts to be paid shall be considered paid on the date due if the
Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 11:00 a.m. Eastern Time on the Business Day prior
to the due date money deposited by the Company in immediately available funds and designated for and sufficient to pay all Principal
of, premium, if any, Redemption Price, if applicable, Interest and any other amounts to be paid then due. Any payments of the
Principal of, premium, if any, Redemption Price, if applicable, Interest and any other amounts which are paid in cash on the Notes
shall be paid in United States dollars.

 

    -26- 

     

    

 

Section
5.02     Maintenance of Office or Agency. The following covenant replaces Section 9.2 of the Base
Indenture with respect to the Notes:

 

The
Company shall maintain in the Borough of Manhattan, The City of New York, an office or agency (which may be an office of the Trustee
or an affiliate of the Trustee, Registrar or co-registrar) where Notes may be surrendered for registration of transfer or for
exchange and where notices and demands to or upon the Company in respect of the Notes and the Indenture may be served. The Company
shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency in the
Borough of Manhattan and any other designation or rescission of any other office or agency. If at any time the Company shall fail
to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee.

 

The
Company may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered
for any or all such purposes and may from time to time rescind such designations; provided, however, that no such
designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in the Borough
of Manhattan, The City of New York, for such purposes. The Company shall give prompt written notice to the Trustee of any such
designation or rescission and of any change in the location of any such other office or agency.

 

The
Company hereby designates the office of the Trustee, presently located at 101 Barclay Street, New York, NY 10286, Attn: Corporate
Trust as one such office or agency of the Company in accordance with Section 2.03.

 

Section
5.03     Reports. The following covenant replaces Section 9.5 of the Base Indenture with respect to the
Notes:

 

The
Company shall file with the Trustee and each Holder copies of any annual or quarterly reports (on Form 10-K or Form 10-Q or any
respective successor form) that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange
Act (excluding, for the avoidance of doubt, any such information, documents or reports, or portions thereof, subject to confidential
treatment and any correspondence with the Commission) within 15 days after the same are required to be filed with the Commission
(giving effect to any grace period provided by Rule 12b-25 under the Exchange Act or any successor rule). Any such document or
report that the Company files with the Commission via the Commission’s EDGAR system (or any successor system) shall be deemed
to be filed with the Trustee and the Holders for purposes of this Section 5.03 at the time such document or report is filed via
the EDGAR system (or such successor system)it being understood that the Trustee shall have no responsibility to determine if such
filings have been made. Notwithstanding the foregoing, at any time the Company is otherwise not required to file documents or
reports with the SEC pursuant to Section 13 or 15(d) of the Exchange Act and the Conversion Obligation for the Notes may be satisfied
by the delivery of Reference Property consisting of, in whole or in part, another entity’s common stock, American depositary
receipts, ordinary shares or other Capital Stock, as the case may be, the Company may satisfy its obligations under this Section
5.03 by delivering or filing the financial information of such entity within the same time periods and in the same manner described
above. Delivery of the reports and documents described in this Section 5.03 to the Trustee is for informational purposes only,
and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable
from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which
the Trustee is entitled to conclusively rely on an Officer’s Certificate). Trustee shall have no liability or responsibility
for the filing, timeliness or content of any such reports

 

    -27- 

     

    

 

Section
5.04         Compliance Certificate. The following covenant replaces Section 9.6 of the Base Indenture with
respect to the Notes:

 

(a)            The
Company shall deliver to the Trustee, within 90 days after the end of each fiscal year, an Officers’ Certificate, one of
the signatories of which is the Company’s Chief Executive Officer, Chief Financial Officer or Chief Accounting Officer,
stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under
the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled
its obligations under the Indenture, and further stating, as to each such Officer signing such certificate, that to the best of
his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in the Indenture
and the Notes and is not in default in the performance or observance of any of the terms, provisions and conditions of the Indenture
and the Notes (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of
which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and that to
the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the
Principal of, Interest or any other amounts due, if any, on the Notes is prohibited or if such event has occurred, a description
of the event and what action the Company is taking or proposes to take with respect thereto.

 

(b)           The
Company shall, so long as any of the Notes are outstanding, deliver to the Trustee, forthwith upon any Officer becoming aware
of any Event of Default, an Officers’ Certificate specifying such Event of Default and what action the Company is taking
or proposes to take with respect thereto.

 

Section
5.05         Taxes.

 

The
Company shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and
governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such
payment would not reasonably be expected to have a Material Adverse Effect.

 

Section
5.06         Stay, Extension and Usury Laws.

 

The
Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter
in force, that may affect the covenants or the performance of the Indenture; and the Company (to the extent that it may lawfully
do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it shall not, by resort to any such
law, hinder, delay or impede the execution of any power herein granted to the Trustee.

 

Section
5.07         Restricted Payments.

 

The
Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly:

 

(i)          declare
or pay any dividend or make any other payment or distribution on account of its Equity Interests (including, without limitation,
any payment in connection with any merger or consolidation involving the Company or any Subsidiary of the Company) or to the direct
or indirect holders of its Equity Interests in their capacity as such, other than dividends or distributions payable (a) in Equity
Interests (other than Disqualified Stock) of the Company or any Subsidiary of the Company to the Company or any Subsidiary of
the Company, or (b) in the case of dividends or distributions payable by any Subsidiary of the Company, pro rata to the holders
of such Subsidiary’s Equity Interests;

 

(ii)         purchase,
redeem or otherwise acquire or retire for value (including without limitation, in connection with any merger or consolidation
involving the Company) any Equity Interests of the Company;

 

(iii)        make
any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value any Indebtedness of the
Company or any of its Subsidiaries that is contractually subordinated to the Notes (excluding any intercompany Indebtedness between
or among the Company and any of its Subsidiaries), except regularly scheduled payments of interest and a payment of principal
at the maturity date; or

 

(iv)       make
any Restricted Investment,

 

    -28- 

     

    

 

all
such payments and other actions set forth in clauses (i) through (iv) above being collectively referred to as “Restricted
Payments” unless, solely with respect to any payment or other action that would otherwise constitute a Restricted Payment
as set forth in clause (i), (ii) or (iv) above, at the time of and after giving effect to such Restricted Payment:

 

(1)         no
Default or Event of Default has occurred and is continuing or would occur as a consequence of such Restricted Payment; and

 

(2)        such
Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Company and its Subsidiaries
since the date of the Indenture (excluding Restricted Payments permitted by clauses (ii) through and including (vii)) of the next
succeeding paragraph, is less than the sum, without duplication, of:

 

A.         50%
of the Consolidated Net Income of the Company for the period (taken as one accounting period) from the beginning of the first
fiscal quarter commencing after the date of the Indenture to the end of the Company’s most recently ended fiscal quarter
for which internal financial statements are available at the time of such Restricted Payment (or, if such Consolidated Net Income
for such period is a deficit, less 100% of such deficit); plus

 

B.          100%
of the aggregate net cash proceeds received by the Company from and after the date of the Indenture as a contribution to its common
equity capital or from the issue or sale of Equity Interests of the Company (other than Disqualified Stock) or from the issue
or sale of convertible or exchangeable Disqualified Stock or convertible or exchangeable debt securities of the Company that have
been converted into or exchanged for such Equity Interests (other than Equity Interests (or Disqualified Stock or debt securities)
sold to a Subsidiary of the Company); plus

 

C.          to
the extent that any Restricted Investment that was made after the date of the Indenture is sold for cash or otherwise liquidated
or repaid for cash, the lesser of (i) the cash return of capital with respect to such Restricted Investment (less the cost of
disposition, if any) and (ii) the initial amount of such Restricted Investment.

 

So
long as no Event of Default shall have occurred and be continuing or would occur as a consequence thereof, the foregoing provisions
shall not prohibit:

 

(i)          the
payment of any dividend or the consummation of any irrevocable redemption within 60 days after the date of declaration of the
dividend or giving of the redemption notice, as the case may be, if at the date of declaration or notice, the dividend or redemption
payment would have complied with the provisions of the Indenture;

 

(ii)         the
making of any Restricted Payment (other than a Restricted Payment as defined in clause (iii) of the definition of Restricted Payment)
in exchange for, or out of the net cash proceeds of the substantially concurrent sale (other than to a Subsidiary of the Company)
of, Equity Interests of the Company (other than Disqualified Stock) or from the substantially concurrent contribution of common
equity capital to the Company;

 

(iii)        the
redemption, repurchase, defeasance or other acquisition or retirement for value of Indebtedness of the Company or its Subsidiaries
that is contractually subordinated or subordinated with respect to security interests to the Notes with the net cash proceeds
from a substantially concurrent incurrence of Permitted Refinancing Indebtedness;

 

(iv)       the
repurchase, redemption or other acquisition or retirement for value of any Equity Interests of the Company or any Subsidiary of
the Company held by any current or former officer, director, employee or contractor of the Company or any of its Subsidiaries
in order to pay or satisfy such officer’s, director’s, employee’s or contractor’s aggregate exercise price
or withholding tax payment obligations or otherwise upon death, disability, retirement or termination of employment or engagement,
pursuant to awards granted under the Company’s equity incentive, stock option, restricted stock or other long-term equity
compensation plans; provided that the aggregate price paid for all such repurchased, redeemed, acquired or retired Equity
Interests may not exceed $500,000 in the aggregate in any calendar year, provided, that any unused amounts in any calendar year
may be carried forward to one or more future periods;

 

    -29- 

     

    

 

(v)        the
repurchase of Equity Interests of the Company deemed to occur upon the exercise of stock options, warrants, or other convertible
or exchangeable securities to the extent such Equity Interests represent a portion of the exercise price of those stock options,
warrants or other convertible or exchangeable securities; and

 

(vi)    
  Restricted Investments by the Company and its subsidiaries not otherwise permitted under the Indenture, in an aggregate
amount not to exceed $2 million at any time outstanding.

 

The
amount of all Restricted Payments (other than cash) shall be the Fair Market Value on the date of the Restricted Payment of the
asset(s) or securities proposed to be transferred or issued by the Company or such Subsidiary, as the case may be, pursuant to
the Restricted Payment. The Fair Market Value of any non-cash Restricted Payment shall be determined by the Board of Directors
whose resolution with respect thereto shall be delivered to the Trustee in an Officer’s Certificate.

 

Section
5.08     Dividend and Other Payment Restrictions Affecting Subsidiaries.

 

The
Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, create or otherwise permit, cause
or suffer to exist or become effective any consensual encumbrance or restriction on the ability of any Subsidiary to (a)(i) pay
dividends or make any other distributions on its Capital Stock to the Company or any of its Subsidiaries or with respect to any
other interest or participation in, or measured by, its profits or (ii) pay any indebtedness owed to the Company or any of its
Subsidiaries, (b) make loans or advances to the Company or any of its Subsidiaries or (c) sell, lease or transfer any of its properties
or assets to the Company or any of its Subsidiaries, except for such encumbrances or restrictions existing under or by reasons
of:

 

(i)          the
Indenture and the Notes;

 

(ii)         agreements
governing Existing Indebtedness and Credit Facilities as in effect on the date of the Indenture and any amendments, restatements,
modifications, renewals, supplements, refundings, replacements or refinancings of those agreements; provided that the amendments,
restatements, modifications, renewals, supplements, refundings, replacements or refinancings are not materially more restrictive
with respect to such dividend and other payment restrictions than those contained in those agreements on the date of the Indenture;

 

(iii)        any
instrument governing Indebtedness or Capital Stock of a Person acquired by the Company or any of its Subsidiaries as in effect
at the time of such acquisition (except to the extent such Indebtedness or Capital Stock was incurred in connection with or in
contemplation of such acquisition), which encumbrance or restriction is not applicable to any Person, or the properties or assets
of any Person, other than the Person, or the property or assets of the Person, so acquired; provided that, in the case
of Indebtedness, such Indebtedness was permitted by the terms of the Indenture;

 

(iv)        purchase
money obligations for property acquired in the ordinary course of business and Capital Lease Obligations that impose restrictions
on the property purchased or leased of the nature set forth in Section 5.09(iii);

 

(v)         Permitted
Refinancing Indebtedness; provided that the restrictions contained in the agreements governing such Permitted Refinancing
Indebtedness are not materially more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness
being refinanced;

 

    -30- 

     

    

 

(vi)          applicable
law rule, regulation or order;

 

(vii)         customary
non-assignment provisions in contracts and licenses entered into in the ordinary course of business;

 

(viii)        any
agreement for the sale or other disposition of a Subsidiary that restricts distributions by that Subsidiary pending the sale or
other disposition;

 

(ix)          Liens
permitted to be incurred under the provisions of Section 5.12 hereof that limit the right of the debtor to dispose of the assets
subject to such Liens;

 

(x)           provisions
limiting the disposition or distribution of assets or property in joint venture agreements, asset sale agreements, sale-leaseback
agreements, stock sale agreements and other similar agreements entered into with the approval of the Company’s Board of Directors,
which limitation is applicable only to the assets that are the subject of such agreements; and

 

(xi)          restrictions
on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business.

 

Section 5.09          Incurrence
of Indebtedness and Issuance of Disqualified Stock.

 

The Company shall not,
and shall not permit any of its Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become
directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness
(including Acquired Debt), and, while the Company may issue shares of preferred stock, the Company shall not issue any Disqualified
Stock and shall not permit any of its Subsidiaries to issue any shares of preferred stock.

 

The provisions of the
first paragraph of this Section 5.09 shall not prohibit the incurrence of any of the following items of Indebtedness (collectively,
“Permitted Debt”):

 

(i)            the
incurrence by the Company and its Subsidiaries of Existing Indebtedness;

 

(ii)           the
incurrence by the Company of Indebtedness represented by the Notes on the date of the Indenture;

 

(iii)          the
incurrence by the Company or any of its Subsidiaries of (x) Indebtedness represented by Capital Lease Obligations or purchase money
obligations, in each case incurred for the purpose of financing the purchase price or cost of equipment used in the production
lines of the Company or any of its Subsidiaries and (y) additional Indebtedness represented by Capital Lease Obligations, mortgage
financings or purchase money obligations, in each case, incurred for the purpose of financing all or any part of the purchase price
or cost of design, construction, installation or improvement of property, plant or equipment used in the Permitted Business (other
than as described in clause (x)) of the Company or any of its Subsidiaries, in the case of this clause (y), in an aggregate principal
amount not to exceed $1.0 million in the aggregate outstanding at any time outstanding;

 

(iv)          the
incurrence by the Company or any of its Subsidiaries of Permitted Refinancing Indebtedness in exchange for, or the net proceeds
of which are used to renew, refund, refinance, replace, defease or discharge any Indebtedness that was permitted by the Indenture
to be incurred pursuant to clauses (i) or (iii) of this paragraph;

 

(v)           the
incurrence by the Company or any of its Subsidiaries of Indebtedness not to exceed in the aggregate at any time outstanding $5.0
million; provided, however, that (a) such Indebtedness is expressly subordinated to the prior payment in full in
cash of all Obligations with respect to the Indenture and the Notes, (b) such Indebtedness matures no less than 181 days following
the maturity of the Notes;

 

    -31- 

     

    

 

(vi)          the
incurrence by the Company or any of its Subsidiaries of Hedging Obligations in the ordinary course of business (other than for
speculative purposes);

 

(vii)         the
incurrence by the Company or any of its Subsidiaries of Indebtedness in respect of workers’ compensation claims, self-insurance
obligations, bankers’ acceptances, performance and surety bonds in the ordinary course of business;

 

(viii)        the
incurrence by the Company or any of its Subsidiaries of unsecured Indebtedness not to exceed in the aggregate at any time outstanding
$1.0 million;

 

(ix)           Guarantees
by the Company or any of its Subsidiaries of Indebtedness otherwise permitted hereunder;

 

(x)           the
incurrence of Indebtedness by the Company or any of its Subsidiaries arising from agreements providing for indemnification, contribution,
earnout, adjustment of purchase price or similar obligations, in each case, incurred or assumed in connection with the acquisition
or disposition of any business, assets or Capital Stock of a Subsidiary otherwise permitted under the Indenture;

 

(xi)          the
incurrence of intercompany Indebtedness among the Company and any of its Subsidiaries;

 

(xii)         the
incurrence by the Company or any of its Subsidiaries of Indebtedness arising from the honoring by a bank or other financial institution
of a check, draft or similar instrument inadvertently drawn against insufficient funds, so long as such Indebtedness is covered
within five Business Days.

 

The Company will not
incur any Indebtedness (including Permitted Debt) that is contractually subordinated in right of payment to any other Indebtedness
of the Company unless such Indebtedness is also contractually subordinated in right of payment to the Notes on substantially identical
terms; provided, however, that no Indebtedness will be deemed to be contractually subordinated in right of payment to any
other Indebtedness of the Company solely by virtue of being unsecured or by virtue of being secured on a first or junior Lien basis.

 

For purposes of determining
compliance with this Section, in the event that an item of proposed Indebtedness meets the criteria of more than one of the categories
of Permitted Debt set forth above, or is entitled to be incurred pursuant to the first paragraph of this covenant, the Company
will be permitted to classify such item of Indebtedness on the date of its incurrence, or later reclassify all or a portion of
such item of Indebtedness, in any manner that complies with this covenant.

 

The accrual of interest,
the accretion or amortization of original issue discount, the payment of interest on any Indebtedness in the form of additional
Indebtedness with the same terms, the reclassification of preferred stock as Indebtedness due to a change in accounting principles,
and the payment of dividends on Disqualified Stock in the form of additional shares of the same class of Disqualified Stock will
not be deemed to be an incurrence of Indebtedness or an issuance of Disqualified Stock for purposes of this covenant. Notwithstanding
any other provision of this covenant, the maximum amount of Indebtedness that the Company or any Subsidiary may incur pursuant
to this covenant shall not be deemed to be exceeded solely as a result of fluctuations in exchange rates or currency values.

 

The amount of any Indebtedness
outstanding as of any date will be:

 

(i)            the
accreted value of the Indebtedness, in the case of any Indebtedness issued with original issue discount;

 

(ii)           the
principal amount of the Indebtedness, in the case of any other Indebtedness; and

 

    -32- 

     

    

 

(iii)          in
respect of Indebtedness of another Person secured by a Lien on the assets of the specified Person, the lesser of:

 

A.         the
Fair Market Value of such assets at the date of determination; and

 

B.          the
amount of the Indebtedness of the other Person.

 

Section 5.10        Asset
Sales.

 

(a)          The
Company shall not, and shall not permit any of its Subsidiaries to:

 

(i)            sell,
lease, convey or otherwise dispose of any assets or rights other than the sale, lease, conveyance or other disposition of all or
substantially all of the assets of the Company and its Subsidiaries taken as a whole, which will be governed by Section 6.01 and
not by the provisions of this Section 5.10; and

 

(ii)           issue
Equity Interests in any of the Subsidiaries or sell Equity Interests in any of its Subsidiaries.

 

(each of the foregoing, but expressly excluding
any condemnation or other government taking, an “Asset Sale”), unless such Asset Sale is a Permitted Asset Sale
(as defined below):

 

(b)          A
“Permitted Asset Sale” shall mean:

 

(i)           an
Asset Sale in which the Company (or the Subsidiary, as the case may be) receives consideration at the time of such Asset Sale at
least equal to the Fair Market Value of the assets or Equity Interests issued or sold or otherwise disposed of; and at least 75%
of the consideration received therefor by the Company or such Subsidiary is in the form of cash; provided, however,
that the amounts of the following shall be deemed to be cash for purposes of this provision:

 

A.          any
liabilities (as shown on the Company’s most recent consolidated balance sheet or in the notes thereto), of the Company or
any Subsidiary (other than contingent liabilities or liabilities that are by their terms subordinated in right of payment or as
to security interests to the Notes) that are assumed by the transferee of any such assets pursuant to a customary novation agreement
that releases the Company or such Subsidiary from further liability,

 

B.          any
securities, notes or other obligations received by the Company or any such Subsidiary from such transferee that are contemporaneously,
subject to ordinary settlement periods, converted by the Company or such Subsidiary into cash (to the extent of the cash received
in that conversion), and

 

C.          any
stock or assets received of the Company or any Subsidiary used to acquire (1) all or substantially all of the assets of, or any
Capital Stock of, another Permitted Business if, after giving effect to any such acquisition of Capital Stock, the Permitted Business
is or becomes a Subsidiary of the Company or (2) other assets that are not classified as current assets under GAAP and that are
used or useful in a Permitted Business.

 

(ii)           any
single Asset Sale or series of related Asset Sales that involves assets having a Fair Market Value of less than $1.0 million in
the aggregate;

 

(iii)          the
transfer, sale or lease of products, services or accounts receivable by the Company or any Subsidiary in the ordinary course of
business and any sale or other disposition of damaged, worn-out, replaced, retired or obsolete assets by the Company or any Subsidiary
in the ordinary course of business;

 

    -33- 

     

    

 

(iv)          the
sale or other disposition by the Company or any Subsidiary of cash or Cash Equivalents;

 

(v)           a
transfer of assets by the Company to a Subsidiary or by a Subsidiary of the Company to the Company or another Subsidiary of the
Company;

 

(vi)          an
issuance of Equity Interests by a Subsidiary to the Company or to another Subsidiary of the Company;

 

(vii)         any
Restricted Payment, Permitted Investment that is permitted by Section 5.07 hereof or Permitted Lien that is permitted by Section
5.12 hereof;

 

(viii)        any
leases or subleases in the ordinary course of business to third Persons not interfering in any material respect with the ordinary
conduct of the business of the Company and otherwise not prohibited by the Indenture;

 

(ix)          any
dispositions of accounts receivable in connection with the collection or compromise thereof in the ordinary course of business;
and

 

(x)          any
licensing of intellectual property in accordance with industry practice in the ordinary course of the Company’s business.

 

(c)          After
any Permitted Asset Sale, the Company (or such Subsidiary) may apply the Net Proceeds from such Permitted Asset Sale, at its option,
either with respect to the Company or the applicable Subsidiary:

 

(i)            to
repay Indebtedness and other Obligations under a Credit Facility, and if the Indebtedness repaid is revolving credit Indebtedness,
to correspondingly reduce commitments with respect thereto,

 

(ii)           to
repay Indebtedness and to correspondingly permanently reduce commitments with respect thereto;

 

(iii)          to
acquire all or substantially all of the assets of, or any Capital Stock of, another Permitted Business if, after giving effect
to any such acquisition of Capital Stock, the Permitted Business is or becomes a Subsidiary of the Company;

 

(iv)          to
make capital expenditures in a Permitted Business of a Subsidiary; or

 

(v)           to
acquire other assets that are not classified as current assets under GAAP and that are used or useful in a Permitted Business of
a Subsidiary.

 

Pending the application
of any Net Proceeds from an Asset Sale, the Company may temporarily invest such Net Proceeds in cash or Cash Equivalents.

 

Section 5.11        Transactions
with Affiliates.

 

The Company shall not,
and shall not permit any of its Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its
properties or assets to, or purchase any property or assets from, or enter into or make or amend any contract, agreement, understanding,
loan, advance, transaction or guarantee with, or for the benefit of, any Affiliate of the Company (each of the foregoing, an “Affiliate
Transaction”), unless;

 

(a)          such
Affiliate Transaction is on terms that are not materially less favorable to the Company or the relevant Subsidiary than those that
could reasonably have been obtained in a comparable transaction by the Company or such Subsidiary with an unrelated Person, and

 

    -34- 

     

    

 

(b)          the
Company delivers to the Trustee, with respect to any Affiliate Transaction or series of related Affiliate Transactions involving
aggregate consideration in excess of $1.0 million, a resolution of the Board of Directors set forth in an Officers’ Certificate
certifying that such Affiliate Transaction complies with clause (a) above and that such Affiliate Transaction has been approved
by a majority of the disinterested members of the Board of Directors of the Company;

 

provided, however,
that the Company shall not be required to comply with this Section 5.11 with respect to the following, none of which shall be an
Affiliate Transaction:

 

(i)          any
employment agreement, employee benefit plan, officer or director indemnification agreement or any similar arrangement entered into
by the Company or any of its Subsidiaries in the ordinary course of business and payments made pursuant thereto;

 

(ii)          transactions
between or among the Company and/or its Subsidiaries;

 

(iii)          Restricted
Payments other than Permitted Investments that do not violate Section 5.07 of this First Supplemental Indenture;

 

(iv)          transactions
with a Person that is an Affiliate of the Company solely because the Company owns, directly or through a Subsidiary, an Equity
Interest in, or controls, such Person;

 

(v)          payment
of reasonable directors’ fees to Persons who are not otherwise Affiliates of the Company; or

 

(vi)          loans
or advances to employees for expenses incurred or to be incurred in connection with the Permitted Business and such employee’s
employment in the ordinary course of business not to exceed $250,000 in the aggregate at any time outstanding, in each case shall
not be deemed Affiliate Transactions.

 

Section 5.12        Liens.

 

The Company shall not,
and shall not permit any of its Subsidiaries to, directly or indirectly create, incur, assume or suffer to exist any Lien of any
kind on any asset now owned or hereafter acquired, except Permitted Liens.

 

Section 5.13        Line
of Business.

 

The Company shall not,
and shall not permit any of its Subsidiaries to, engage in any business other than Permitted Businesses, except to such extent
as would not be material to the Company and its Subsidiaries taken as a whole.

 

Section 5.14        Corporate
Existence. The following covenant replaces Section 9.4 of the Base Indenture with respect to the Notes:

 

Subject to ARTICLE
6 hereof, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect (i) its corporate
existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the respective organizational
documents (as the same may be amended from time to time) of the Company or any such Subsidiary and (ii) the rights (charter and
statutory), licenses and franchises of the Company and its Subsidiaries; provided, however, that the Company shall not be required
to preserve any such right, license or franchise, or the corporate, partnership or other existence of any of its Subsidiaries,
if the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as
a whole, and the loss thereof would not reasonably be expected to have a Material Adverse Effect.

 

    -35- 

     

    

 

Section 5.15        [Intentionally
Omitted].

 

Section 5.16        Maintenance
of Properties and Insurance.

 

(a)          The
Company shall, and shall cause each of its Subsidiaries to, maintain all material properties in good working order and condition
in all material respects (subject to ordinary wear and tear) and make all necessary repairs, renewals, replacements, additions,
betterments and improvements thereto and actively conduct and carry on its business; provided, however, that
nothing in this Section 5.16 shall prevent the Company or any of its Subsidiaries from discontinuing the operation and maintenance
of any of its properties if such discontinuance is, in the good faith judgment of the Board of Directors or other governing body
of the Company or the Subsidiary concerned, as the case may be, desirable in the conduct of its business and is not disadvantageous
in any material respect to the Holders.

 

(b)          The
Company shall maintain insurance (including appropriate self-insurance) against loss or damage of the kinds that, in the good faith
judgment of the holdings and the Company, are adequate and appropriate for the conduct of the business of the Company and its Subsidiaries
in a prudent manner, with reputable insurers or with the government of the United States of America or an agency or instrumentality
thereof, in such amounts, with such deductibles, and by such methods as shall be customary, in the good faith judgment of the Company,
for companies similarly situated in the industry.

 

Section 5.17        Payments
for Consent.

 

Neither the Company
nor any of its Subsidiaries shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest,
fee or otherwise, to or for the benefit of any Holder of any Notes for or as an inducement to any consent, waiver or amendment
of any of the terms or provisions of the Indenture or the Notes unless such consideration is offered to be paid or is paid to all
Holders of the Notes that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to
such consent, waiver or agreement.

 

Section 5.18        [Intentionally
Omitted].

 

Section 5.19        Issuance
or Sale of Subsidiary Stock.

 

The Company shall not,
and shall not permit any of its Subsidiaries to, sell any Capital Stock of a Subsidiary of the Company, except to the Company or
to another wholly owned Subsidiary of the Company, unless the Company and its Subsidiaries, as the case may be, sell 100% of the
Capital Stock of the subject Subsidiary that they own in accordance with the Indenture, as applicable. In addition, no Subsidiary
of the Company shall issue any Capital Stock, other than to the Company or another Subsidiary of the Company.

 

Section 5.20        [Intentionally
Omitted].

 

Section 5.21        Special
Interest.

 

If at any time Special
Interest becomes payable by the Company pursuant to Section 7.03 hereof, the Company shall promptly deliver to the Trustee a certificate
to that effect and stating (i) the amount of such applicable Special Interest that is payable and (ii) the date on which such applicable
Special Interest is payable pursuant to Section 7.03 hereof. Unless and until a Responsible Officer of the Trustee receives such
a certificate, the Trustee may assume without inquiry that no Special Interest is payable. If the Company has paid Special Interest
directly to the Persons entitled to such Special Interest, the Company shall deliver to the Trustee a certificate setting forth
the particulars of such payment.

 

    -36- 

     

    

 

ARTICLE
6.

CONSOLIDATION, MERGER AND SALE OF ASSETS

 

Article VII of the Base Indenture is
hereby replaced in full, solely with respect to the Notes, with the following:

 

Section 6.01        When
Company May Merger, Etc.

 

Subject to the provisions
of Section 6.02, the Company shall not consolidate with or merge with or into, or sell, convey, transfer or lease all or substantially
all of the consolidated properties and assets of the Company and its direct and indirect Subsidiaries, taken as a whole, to another
Person (other than one or more of the Company’s direct or indirect Subsidiaries), unless:

 

(a)          the
resulting, surviving or transferee Person (the “Surviving Entity”), if not the Company, is a corporation organized
and existing under the laws of the United States of America, any State thereof or the District of Columbia, and the Surviving Entity,
if not the Company, expressly assumes by supplemental indenture all of the obligations of the Company under the Notes and the Indenture;
and

 

(b)          immediately
after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing under the Indenture.

 

For purposes of this
Section 6.01, the sale, conveyance, transfer or lease of all or substantially all of the properties and assets of one or more Subsidiaries
of the Company to another Person, which properties and assets, if held by the Company instead of such Subsidiaries, would constitute
all or substantially all of the properties and assets of the Company on a consolidated basis, shall be deemed to be the sale, conveyance,
transfer or lease of all or substantially all of the properties and assets of the Company to another Person.

 

Section 6.02        Successor
Corporation to Be Substituted.

 

In case of any such
consolidation, merger, sale, conveyance, transfer or lease and upon the assumption by the Surviving Entity, by supplemental indenture,
executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal
of and accrued and unpaid interest on all of the Notes, the due and punctual delivery or payment, as the case may be, of any consideration
due upon conversion of the Notes and the due and punctual performance of all of the covenants and conditions of the Indenture to
be performed by the Company, such Surviving Entity (if not the Company) shall succeed to and, except in the case of a lease of
all or substantially all of the Company’s properties and assets, shall be substituted for the Company, with the same effect
as if it had been named herein as the party of the first part. Such Surviving Entity thereupon may cause to be signed, and may
issue either in its own name or in the name of the Company any or all of the Notes issuable hereunder which theretofore shall not
have been signed by the Company and delivered to the Trustee; and, upon the written order of such Surviving Entity signed by one
of its Officers (instead of a Company Order) and subject to all the terms, conditions and limitations in the Indenture prescribed,
the Trustee shall authenticate and shall deliver, or cause to be authenticated and delivered, any Notes that previously shall have
been signed and delivered by an Officer of the Company to the Trustee for authentication, and any Notes that such Surviving Entity
thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects
have the same legal rank and benefit under the Indenture as the Notes theretofore or thereafter issued in accordance with the terms
of the Indenture as though all of such Notes had been issued at the date of the execution hereof. In the event of any such consolidation,
merger, sale, conveyance or transfer (but not in the case of a lease), upon compliance with this ARTICLE 6 the Person named as
the “Company” in the first paragraph of this First Supplemental Indenture (or any successor that shall thereafter have
become such in the manner prescribed in this ARTICLE 6) may be dissolved, wound up and liquidated at any time thereafter and, except
in the case of a lease, such Person shall be released from its liabilities as obligor and maker of the Notes and from its obligations
under the Indenture and the Notes.

 

In case of any such
consolidation, merger, sale, conveyance, transfer or lease, such changes in phraseology and form (but not in substance) may be
made in the Notes thereafter to be issued as may be appropriate.

 

Section 6.03        Opinion
of Counsel to Be Given to Trustee.

 

If the Surviving Entity
is not the Company, no such consolidation, merger, sale, conveyance, transfer or lease pursuant to Section 6.01 shall be effective
unless the Trustee shall receive an Officer’s Certificate and an Opinion of Counsel as conclusive evidence that any such
consolidation, merger, sale, conveyance, transfer or lease and any such assumption and, if a supplemental indenture is required
in connection with such transaction, such supplemental indenture, complies with the provisions of this ARTICLE 6.

 

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ARTICLE
7.

DEFAULTS AND REMEDIES

 

Article V of the Base Indenture is hereby
replaced in full, solely with respect to the Notes, with the following:

 

Section 7.01        Events
of Default.

 

An “Event
of Default” means any of the following events:

 

(a)          the
Company’s (i) failure to comply with its obligation to convert any Notes in accordance with the Indenture upon exercise of
a Holder’s conversion right, including the payment of any Qualifying Fundamental Change Payment, and such failure continues
for a period of five (5) Business Days;

 

(b)          the
Common Stock is not listed on any Eligible Market;

 

(c)          the
Company defaults in the payment when due of Interest on the Notes and such default continues for a period of 30 days;

 

(d)          the
Company defaults in the payment when due of Principal of or premium, if any, on the Notes when the same becomes due and payable
at maturity, upon redemption (including in connection with an offer to purchase) or otherwise, including the payment of any Interest
Make-Whole Payment upon the Company’s election to exercise the Optional Redemption Right (whether in cash or shares to the
extent permitted herein);

 

(e)          the
Company or any of its Subsidiaries fails to comply with any of the provisions of Section 5.07, Section 5.09, Section 5.10, Section
5.12, Section 6.01 or ARTICLE 10 hereof;

 

(f)          failure
by the Company to give the Holder Optional Redemption Notice pursuant to Section 3.08(b), a Qualifying Fundamental Change Company
Notice pursuant to Section 9.03(b), or Fundamental Change Company Notice pursuant to Section 10.01(c), in each case, when due and
such failure continues for three (3) Business Days after the due date for such notice;

 

(g)          the
Company fails to observe or perform any other covenant, representation, warranty or other agreement in the Indenture (other than
a default specified in clauses (a) through (f) above) or the Notes for 30 days after notice to the Company by the Trustee or the
Holders of at least 25% in aggregate Principal Amount of the Notes then outstanding voting as a single class;

 

(h)          a
default occurs under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or
evidenced any Indebtedness for money borrowed by the Company or any of its Subsidiaries (or the payment of which is guaranteed
by the Company or any of its Subsidiaries), whether such Indebtedness or Guarantee now exists, or is created after the date of
the Indenture, which default (i) is caused by a failure to pay principal of, or interest or premium, if any, on such Indebtedness
prior to the expiration of the grace period provided in such Indebtedness on the date of such default (a “Payment Default”);
or (ii) results in the acceleration of such Indebtedness prior to its express maturity and, in each case, the Principal Amount
of such Indebtedness, together with the Principal Amount of any other such Indebtedness under which there has been a Payment Default
or the maturity of which has been so accelerated, aggregates $1.0 million or more, in any such case, after notice to the Company
by the Trustee or the Holders of at least 25% in aggregate Principal Amount of the Notes then outstanding voting as a single class;

 

(i)          a
final judgment or final judgments for the payment of money are entered by a court or courts of competent jurisdiction against the
Company or any of its Subsidiaries and such judgment or judgments remain undischarged, unpaid or unstayed for a period (during
which execution shall not be effectively stayed) of 60 days, provided that the aggregate of all such undischarged judgments
exceeds $1.0 million (excluding amounts covered by insurance), after notice to the Company by the Trustee or the Holders of at
least 25% in aggregate Principal Amount of the Notes then outstanding voting as a single class;

 

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(j)          [intentionally
omitted]

 

(k)          [intentionally
omitted]

 

(l)          the
Company, any Significant Subsidiary (as defined in Rule 1-02 of Regulation S-X under the Securities Act and Exchange Act or any
successor rule) or any group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary, pursuant to or
within the meaning of Bankruptcy Law:

 

(i)           commences
a voluntary case,

 

(ii)          consents
to the entry of an order for relief against it in an involuntary case,

 

(iii)          consents
to the appointment of a custodian, receiver, trustee, assignee, liquidator or similar official under Bankruptcy Law of it or for
all or substantially all of its property,

 

(iv)          makes
a general assignment for the benefit of its creditors, or

 

(v)          generally
is not paying its debts as they become due;

 

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

 

(i)            is
for relief against the Company, any of the Subsidiaries, any Significant Subsidiary or any group of Subsidiaries that, taken as
a whole, would constitute a Significant Subsidiary, in an involuntary case;

 

(ii)           appoints
a custodian, receiver, trustee, assignee, liquidator or similar official under Bankruptcy Law of the Company, any of the Subsidiaries,
any Significant Subsidiary or any group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary, or for
all or substantially all of the property of the Company, any of the Subsidiaries, any Significant Subsidiary or any group of Subsidiaries
that, taken as a whole, would constitute a Significant Subsidiary; or

 

(iii)          orders
the liquidation of the Company, any of the Subsidiaries, any Significant Subsidiary or any group of Subsidiaries that, taken as
a whole, would constitute a Significant Subsidiary, and the order or decree remains unstayed and in effect for 60 consecutive days.

 

Section 7.02        Acceleration.

 

If any Event of Default
(other than an Event of Default specified in clause (l) or (m) of Section 7.01) occurs and is continuing, the Trustee or the Holders
of at least 25% in Principal Amount of the then outstanding Notes may declare all the Notes to be due and payable immediately (the
“Event of Default Redemption Price”). Upon any such declaration, the Notes shall become due and payable immediately.
Notwithstanding the foregoing, if an Event of Default specified in clause (l) or (m) of Section 7.01 hereof occurs, all outstanding
Notes shall be due and payable immediately without further action or notice.

 

The Majority Holders
by written notice to the Trustee may, on behalf of all of the Holders, rescind an acceleration and its consequences if the rescission
would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of Principal, Interest
or premium that has become due solely because of the acceleration) have been cured or waived.

 

    -39- 

     

    

 

In the event of a declaration
of acceleration of the Notes solely because an Event of Default described in Section 7.01(h) has occurred and is continuing, the
declaration of acceleration of the Notes shall be automatically rescinded and annulled if the payment default or acceleration triggering
such Event of Default pursuant to Section 7.01(h) shall be remedied or cured or waived by the holders of the relevant debt within
20 Business Days after the declaration of acceleration with respect thereto and if the rescission and annulment of the acceleration
of the Notes would not conflict with any judgment or decree of a court of competent jurisdiction obtained by the Trustee for the
payment of amounts due on the Notes.

 

Section 7.03        Other
Remedies.

 

If an Event of Default
occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of Principal, premium, if any, and
Interest on the Notes then due or to enforce the performance of any provision of the Notes or the Indenture.

 

The Trustee may maintain
a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission
by the Trustee or any Holder of a Note in exercising any right or remedy accruing upon an Event of Default shall not impair the
right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted
by law.

 

Notwithstanding the
foregoing, the sole remedy for an Event of Default relating to the failure by the Company to comply with the provisions of Section
5.03 shall, for the first 180 days after the occurrence of such an Event of Default, consist exclusively of the right to receive
special interest (“Special Interest”) on the Notes at an annual rate equal to 0.50% of the Principal Amount
of the Notes. Such Special Interest shall be paid quarterly in arrears on each Interest Payment Date, with the first payment due
of the first Interest Payment Date following the date on which such Special Interest began to accrue on the Notes and shall cease
to accrue upon the cure or waiver of such Event of Default. Special Interest shall accrue on all outstanding Notes from and including
the date on which an Event of Default relating to a failure to comply with the provisions of Section 5.03 shall first occur to
but not including the 180th day thereafter (or such earlier date on which such Event of Default shall have been cured or waived).
On such 180th day (or earlier, if the Event of Default relating to the failure to comply with Section 5.03 is cured or waived prior
to such 180th day), such Special Interest shall cease to accrue and, if the Event of Default relating to the failure to comply
with Section 5.03 shall not have been cured or waived prior to such 180th day, the Notes shall be subject to acceleration as provided
in Section 7.02. The provisions of this paragraph shall not affect the rights of holders in the event of the occurrence of any
other Event of Default. Upon the occurrence of an Event of Default giving rise to the obligation to pay Special Interest, all references
herein to interest accrued or payable of any date shall include any Special Interest accrued or payable as of such dates if and
to the extent provided in this Section 7.03.

 

Section 7.04        Waiver
of Past Defaults.

 

The Majority Holders
by notice to the Trustee may on behalf of the Holders of all of the Notes waive an existing Default and its consequences hereunder,
except (a) a Default or Event of Default described in clauses (l) or (m) of Section 7.01 or (b) in respect of a covenant or provision
hereof which under Section 12.02 cannot be modified or amended without the consent of the Holder of each outstanding Note affected
(in which case such notice to waive such existing Default and its consequences hereunder shall be given to the Trustee by all Holders
of affected Notes). Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be
deemed to have been cured for every purpose of the Indenture; but no such waiver shall extend to any subsequent or other Default
or impair any right consequent thereon.

 

Section 7.05        Control
by Majority.

 

Subject to Section
8.02(g) the Majority Holders shall have the right to direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee or exercising any trust or power conferred on the Trustee, provided that: (a) such direction shall not
be in conflict with any rule of law, the Indenture; (b) the Trustee may take any other action deemed proper by the Trustee which
is not inconsistent with such direction; and (c) the Trustee may refuse to follow any direction that conflicts with law or that
the Trustee determines may involve the Trustee in personal liability or may be prejudicial to the rights of the Holders of Notes.

 

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Section 7.06        Limitation
on Suits.

 

No Holder shall have
any right to institute any proceeding, judicial or otherwise, in respect of the Indenture, or for the appointment of a receiver
or trustee, or for any other remedy hereunder (other than in the case of an Event of Default specified in clause (l) or (m) of
Section 7.01), unless:

 

(a)          the
Holder of a Note gives to the Trustee written notice of a continuing Event of Default;

 

(b)          the
Holders of at least 25% in Principal Amount of the then outstanding Notes make a written request to the Trustee to pursue the remedy;

 

(c)          such
Holder of a Note or Holders of Notes offer and, if requested, provide to the Trustee indemnity reasonably satisfactory to the Trustee
against any loss, liability or expense;

 

(d)          the
Trustee does not comply with the request within 60 days after receipt of the request and the offer and, if requested, the provision
of indemnity; and

 

(e)          during
such 60-day period the Majority Holders do not give the Trustee a direction inconsistent with the request.

 

No one or more Holders
shall have any right in any manner whatever by virtue of, or by availing itself of, any provision of the Indenture to affect, disturb
or prejudice the rights of any other Holders (it being understood that the Trustee does not have an affirmative duty to ascertain
whether or not such actions or forbearances are unduly prejudicial to such Holders), or to obtain or to seek to obtain priority
or preference over any other Holders or to enforce any right under the Indenture, except in the manner herein provided and for
the equal and ratable benefit of all the Holders.

 

Section 7.07        Unconditional
Rights of Holders of Notes to Receive Payment.

 

Notwithstanding any
other provision of the Indenture, the right of any Holder to receive payment of the Principal, the Redemption Price, or Interest,
in respect of the Notes held by such Holder, on or after the respective due dates expressed in the Notes or any Redemption Date,
as applicable, and to convert the Notes in accordance with ARTICLE 9, or to bring suit for the enforcement of any such payment
on or after such respective dates or the right to convert, shall not be impaired or affected adversely without the consent of such
Holder.

 

Section 7.08        Collection
Suit by Trustee.

 

If an Event of Default
specified in Section 7.01(c) or (d) occurs and is continuing, the Trustee is authorized to recover judgment in its own name and
as trustee of an express trust against the Company and the Subsidiaries for the whole amount of Principal of, premium, if any,
Redemption Price, Interest and any other amounts remaining unpaid on the Notes and interest on overdue principal and, to the extent
lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.

 

Section 7.09        Trustee
May File Proofs of Claim.

 

The Trustee is authorized
to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel), and the Holders of the Notes allowed in any judicial proceedings relative to the Company, its creditors or its property
and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any
such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the
Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and any other amounts due the Trustee under Section 8.07 hereof. To the extent that the payment of any such compensation,
expenses, disbursements and advances of the Trustee and its respective agents and counsel, and any other amounts due the Trustee
under Section 8.07 hereof out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be
secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that
the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement
or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on
behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any
Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

    -41- 

     

    

 

Section 7.10        Priorities.

 

If the Trustee collects
any money pursuant to this ARTICLE 7, it shall pay out the money in the following order:

 

First: to the Trustee and its
agents and attorneys for amounts due under Section 8.07 hereof , including payment of all compensation, expense and liabilities
incurred, and all advances made, by the Trustee and the costs and expenses of collection;

 

Second: to Holders of Notes for
amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably, without preference or priority of any
kind, according to the amounts due and payable on the Notes for Principal, premium, if any, Interest and any other amounts due,
respectively; and

 

Third: to the Company or to such
party as a court of competent jurisdiction shall direct.

 

The Trustee may fix
a record date and payment date for any payment to Holders of Notes pursuant to this Section 7.10.

 

Section 7.11        Undertaking
for Costs.

 

In any suit for the
enforcement of any right or remedy under the Indenture or in any suit against the Trustee for any action taken or omitted by it
as Trustee, in either case in respect of the Notes, a court may require any party litigant in such suit to file an undertaking
to pay the costs of the suit, and the court may assess reasonable costs, including reasonable attorney’s fees, and expenses,
against any party litigant in the suit having due regard to the merits and good faith of the claims or defenses made by the party
litigant; but the provisions of this Section 7.11 shall not apply to any suit instituted by the Company, to any suit instituted
by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in aggregate
Principal Amount of the then outstanding Notes, or to any suit instituted by any Holder for the enforcement of the payment of the
Principal Amount or Interest, on any Note on or after the Stated Maturity of such Note or applicable Redemption Price on or after
the applicable Redemption Date.

 

Section 7.12        Waiver
of Stay or Extension of Laws.

 

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

 

    -42- 

     

    

 

ARTICLE
8.

TRUSTEE

 

Article VI of the Base Indenture is hereby
replaced in full, solely with respect to the Notes, with the following:

 

Section 8.01        Duties
of Trustee.

 

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

 

(b)          The
duties and responsibilities of the Trustee shall be as provided by the TIA. Except during the continuance of an Event of Default:

 

(i)           the
Trustee undertakes to perform such duties and only such duties as are specifically set forth in the Indenture, and no implied covenants
or obligations shall be read into the Indenture against the Trustee; and

 

(ii)           in
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of
the Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to
be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to
the requirements of the Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts
stated therein).

 

(c)          No
provision of the Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent
failure to act, or its own willful misconduct, except that:

 

(i)            this
paragraph does not limit the effect of paragraph (b) of this Section 8.01;

 

(ii)           the
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the
Trustee was negligent in ascertaining the pertinent facts;

 

(iii)          the
Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the
direction of the Majority Holders, determined as provided in Section 2.05, Section 2.08, Section 2.09 and Section 7.05 hereof,
relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any
trust or power conferred upon the Trustee, under the Indenture; and

 

(iv)          no
provision of the Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability
in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured
to it.

 

(d)          Whether
or not therein expressly so provided, every provision of the Indenture that in any way relates to the Trustee is subject to paragraphs
(a), (b) and (c) of this Section 8.01.

 

(e)          The
Trustee shall be under no obligation to exercise any of its rights and powers under the Indenture at the request of any Holder,
unless such Holder shall have offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense.

 

(f)          The
Trustee shall be under no liability for interest on any money received by it hereunder except as the Trustee may agree in writing
with the Company. Money held in trust by the Trustee hereunder need not be segregated from other funds except to the extent required
by law.

 

    -43- 

     

    

 

Section 8.02        Rights
of Trustee.

 

(a)          The
Trustee may conclusively rely, and shall be protected in acting or refraining from acting, upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties. The
Trustee need not investigate any fact or matter stated in any such paper or document.

 

(b)          Whenever
in the administration of the Indenture, the Trustee shall deem it desirable that a matter be proved or established prior to taking,
suffering or omitting any action hereunder, the Trustee may require an Officers’ Certificate or an Opinion of Counsel or
both, and may, in the absence of bad faith on its part, conclusively rely upon such Officers’ Certificate or Opinion of Counsel.

 

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

 

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

 

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

 

(f)           Unless
otherwise specifically provided in the Indenture, any demand, request, direction or notice from the Company mentioned herein shall
be sufficiently evidenced by Company Order.

 

(g)          In
the event the Trustee receives inconsistent or conflicting requests and indemnity from two or more groups of Holders, each representing
less than a majority in aggregate principal amount of the Notes then outstanding, pursuant to the provisions of the Indenture,
the Trustee, in its sole discretion, may determine what action, if any, will be taken and shall not incur any liability for its
failure to act until such inconsistency or conflict is, in its reasonable opinion, resolved.

 

(h)          The
Trustee shall not be deemed to have notice of any Default or Event of Default unless written notice of any event which is in fact
such a Default or Event of Default is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee,
and such notice references the Notes and the Indenture.

 

(i)          The
rights, privileges, immunities and benefits given to the Trustee, including without limitation, its right to be indemnified, are
extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other
person employed to act hereunder.

 

(j)          The
Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles
of officers authorized at such time to take specified actions pursuant to the Indenture, which Officers’ Certificate may
be signed by any person authorized to sign an Officers’ Certificate, including any person specified as to authorized in any
such certificate previously delivered and not suspended.

 

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

 

(l)          The
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit, and if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled
to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company and
shall incur no liability or additional liability of any kind by reason of such inquiry or investigation.

 

    -44- 

     

    

 

(m)          Delivery
of reports, information and documents to the Trustee (including, without limitation, under Section 5.03 hereof) is for informational
purposes only and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained
therein or determinable from information contained therein, including the Issuer’s compliance with any of their covenants
hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates).

 

(n)          The
Trustee will not be liable to any person if prevented or delayed in performing any of its obligations or discretionary functions
under the Indenture by reason of any present or future law applicable to it, by any governmental or regulatory authority or by
any circumstances beyond its control.

 

Section 8.03        Individual
Rights of Trustee.

 

The Trustee in its
individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any Affiliate
of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting
interest, and a default occurs with respect to the Notes, it must eliminate such conflict within 90 days, apply to the SEC for
permission to continue as Trustee or resign. Any authentication agent, any Agent, or any other agent of the Trustee may do the
same with like rights and duties. The Trustee is also subject to Section 8.10 and Section 8.11 hereof.

 

Section 8.04        Trustee’s
Disclaimer.

 

The Trustee shall not
be responsible for and makes no representation as to the validity or adequacy of the Indenture or the Notes. The Trustee and any
authenticating agent shall not be accountable for the Company’s use of the proceeds from the Notes or any money paid to the
Company or upon the Company’s direction under any provision of the Indenture, and shall not be responsible for the use or
application of any money received by any Paying Agent other than the Trustee. The statements and recitals contained herein, in
the Notes or in any other document in connection with the sale of the Notes or pursuant to the Indenture, except the Trustee’s
certificates of authentication, shall be taken as the statements of the Company, and the Trustee or any authenticating agent assumes
no responsibility for their correctness.

 

Section 8.05        Notice
of Defaults.

 

If a Default or Event
of Default occurs and is continuing and if it is known to the Trustee, the Trustee shall send to Holders of Notes a notice of the
Default or Event of Default within 90 days after it knows of such Default or Event of Default, unless such Default or Event of
Default shall have been cured or waived. Except in the case of a Default or Event of Default in payment of Principal of, premium,
if any, Interest or any other amounts due on any Note, the Trustee shall be protected in withholding such notice if and so long
as the board of directors, the executive committee or a trust committee of directors or Responsible Officers of the Trustee in
good faith determines that the withholding of such notice is in the interest of the Holders; and provided, further, that in the
case of any default of the character specified in Section 7.01(g), no such notice to Holders shall be given until at least 30 days
after the occurrence thereof.

 

Section 8.06        Reports
by Trustee to Holders of the Notes.

 

The Trustee shall transmit
to Holders such reports concerning the Trustee and its actions under the Indenture as may be required pursuant to the TIA at the
times and in the manner provided pursuant thereto. If required by TIA § 313(a), the Trustee shall, within sixty days after
each October 15 following the date of the initial issuance of Securities under the Indenture deliver to Holders a brief report,
dated as of such October 15, which complies with the provisions of TIA § 313(a).

 

    -45- 

     

    

 

A copy of each such
report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange, if any, upon which
the Notes are listed, with the Commission and with the Company. The Company will promptly notify the Trustee in writing when the
Securities are listed on any stock exchange and of any delisting thereof.

 

Section 8.07        Compensation
and Indemnity.

 

The Company shall pay
to the Trustee from time to time compensation for its acceptance of the Indenture and services hereunder as shall be agreed in
writing by the Company and the Trustee. The Trustee’s compensation shall not be limited by any law on compensation of a trustee
of an express trust. The Company shall reimburse the Trustee promptly upon request for all reasonable disbursements, advances and
expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the reasonable compensation,
disbursements and expenses of the Trustee’s agents and counsel.

 

The Company shall indemnify
the Trustee and its agents for, and to hold them harmless against, any and all losses, liabilities, damages, claims or expenses,
including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it arising out
of or in connection with the acceptance or administration of its duties under the Indenture, including the costs and expenses of
enforcing the Indenture against the Company (including this Section 8.07) and defending itself against any claim (whether asserted
by the Company or any Holder or any other person) or liability in connection with the exercise or performance of any of its powers
or duties hereunder, except to the extent any such loss, damage, claim, liability or expense is due to its own gross negligence
or willful misconduct (as determined by a court of competent jurisdiction in a final, non-appealable order). The Trustee shall
notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall
not relieve the Company of its obligations hereunder. The Company shall defend the claim and the Trustee shall cooperate in the
defense. The Trustee may have separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The
Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld.

 

The obligations of
the Company under this Section 8.07 shall survive the satisfaction and discharge of the Indenture and the resignation or removal
of the Trustee.

 

To secure the Company’s
payment obligations in this Section, the Trustee shall have a Lien prior to the Notes on all money or property held or collected
by the Trustee for any amount owing to it or any predecessor Trustee pursuant to this Section 8.07, except that held in trust to
pay Principal and Interest on particular Notes. Such Lien shall survive the satisfaction and discharge of the Indenture.

 

When the Trustee incurs
expenses or renders services after an Event of Default specified in Section 7.01 (l) or (m) hereof occurs, the expenses and the
compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of
administration under any Bankruptcy Law.

 

Section 8.08        Replacement
of Trustee.

 

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

 

The Trustee may resign
in writing at any time and be discharged from the trust hereby created by so notifying the Company. The Majority Holders may remove
the Trustee by so notifying the Trustee and the Company in writing. The Company may remove the Trustee if:

 

(a)          the
Trustee fails to comply with Section 8.10 hereof;

 

(b)          the
Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy
Law;

 

    -46- 

     

    

 

(c)          a
custodian, receiver, trustee, assignee, liquidator or similar official under Bankruptcy Law or public officer takes charge of the
Trustee or its property; or

 

(d)          the
Trustee becomes incapable of acting.

 

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

 

If a successor Trustee
does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company, or the
Holders of at least 10% in Principal Amount of the then outstanding Notes may petition any court of competent jurisdiction, at
the expense of the Company, for the appointment of a successor Trustee.

 

If the Trustee, after
written request by any Holder who has been a Holder for at least six months, fails to comply with Section 8.10, such Holder may
petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

 

A successor Trustee
shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the resignation or
removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties
of the Trustee under the Indenture. The successor Trustee shall deliver a notice of its succession to Holders. The retiring Trustee
shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder
have been paid and subject to the Lien provided for in Section 8.07 hereof. Notwithstanding replacement of the Trustee pursuant
to this Section 8.08, the Company’s obligations under Section 8.07 hereof shall continue for the benefit of the retiring
Trustee.

 

Section 8.09        Successor
Trustee by Merger, etc.

 

If the Trustee consolidates,
merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor
corporation without any further act shall be the successor Trustee; provided, that such successor corporation shall otherwise be
eligible and qualified under this ARTICLE 8.

 

Section 8.10        Eligibility;
Disqualification.

 

There shall at all
times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of America
or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision
or examination by federal or state authorities and that has a combined capital and surplus of at least $100 million as set forth
in its most recent published annual report of condition.

 

The Indenture shall
always have a Trustee who satisfies the requirements of TIA § 310(a)(l), (2) and (5). The Trustee is subject to TIA §
310(b).

 

Section 8.11        Preferential
Collection of Claims Against Company.

 

The Trustee is subject
to TIA § 311 (a), excluding any creditor relationship listed in TIA § 311 (b). A Trustee who has resigned or been removed
shall be subject to TIA § 31I (a) to the extent indicated therein.

 

ARTICLE
9.

CONVERSION OF NOTES

 

Section 9.01        Conversion
Privilege.

 

Subject to and upon
compliance with the provisions of this Article 9, each Holder of a Note shall have the right, at such Holder’s
option, to convert all or any portion (if the portion to be converted is $1,000 Principal Amount or an integral multiple thereof)
of such Note at any time prior to the close of business on the Business Day immediately preceding the Stated Maturity at an initial
conversion rate of 196.08 shares of Common Stock (subject to adjustment as provided in this Article 9, the “Conversion
Rate”) per $1,000 Principal Amount of Notes (subject to, and in accordance with, the settlement provisions of Section 9.02,
the “Conversion Obligation”).

 

    -47- 

     

    

 

Section 9.02        Conversion
Procedure; Settlement Upon Conversion.

 

(a)          Subject
to this Section 9.02, Section 9.03(b) and Section 9.07(a), upon conversion of any Note,
the Company shall satisfy its Conversion Obligation by delivering to the converting Holder, in respect of each $1,000 Principal
Amount of Notes being converted, a number of shares of Common Stock equal to the Conversion Rate, together with a cash payment,
if applicable, in lieu of delivering any fractional share of Common Stock in accordance with subsection (j) of this
Section 9.02, and a Qualifying Fundamental Change Payment, if applicable, on the second Business Day immediately following
the relevant Conversion Date (or such longer period as the Applicable Procedures of the Depositary may require, with respect to
any conversions by Beneficial Owners of interests in a Global Note). 

 

(b)          Subject
to Section 9.02(e), before any Holder of a Note shall be entitled to convert a Note as set forth above, such Holder
shall (i) in the case of a Global Note, comply with the Applicable Procedures of the Depositary and, if required, pay funds
equal to interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in Section 9.02(h) and
(ii) in the case of a Physical Note, the Holder thereof shall (1) complete, manually sign and deliver an irrevocable
notice (or a facsimile, PDF or other electronic transmission thereof) to the Conversion Agent as set forth in the Form of
Notice of Conversion (a “Notice of Conversion”) in the form set forth in Attachment 1 to the Form of Note attached
hereto as Exhibit A, at the office of the Conversion Agent and state in writing therein the Principal Amount of Notes to be converted
and the name or names (with addresses) in which such Holder wishes the certificate or certificates for the shares of Common Stock
to be delivered upon settlement of the Conversion Obligation (and settlement of any Qualifying Fundamental Change Payment, if applicable)
to be registered, (2) surrender such Notes, duly endorsed to the Company or in blank (and accompanied by appropriate endorsement
and transfer documents), at the office of the Conversion Agent, (3) if required, furnish appropriate endorsements and transfer
documents, (4) if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder is
not entitled as set forth in Section 9.02(h) and (5) if required, pay all transfer or similar taxes, if any.
The Conversion Agent shall notify the Company of any conversion pursuant to this Article 9 on the Conversion Date for
such conversion. The exercise of such conversion rights shall be irrevocable. No Holder may surrender Notes for conversion if such
Holder has also delivered (a) a Fundamental Change Repurchase Notice to the Company in respect of such Notes and has not validly
withdrawn such Fundamental Change Repurchase Notice in accordance with Section 10.02, or (b) a Repurchase Notice to
the Company in respect of such Notes and has not validly withdrawn such Repurchase Notice in accordance with Section 3.08.

 

If
more than one Note shall be surrendered for conversion at one time by the same Holder, the Conversion Obligation and Qualifying
Fundamental Change Payment, if applicable, with respect to such Notes shall be computed on the basis of the aggregate Principal
Amount of the Notes (or specified portions thereof to the extent permitted thereby) so surrendered.

 

(c)          A
Note shall be deemed to have been converted immediately prior to the close of business on the date (the “Conversion Date”)
that the Holder has complied with the requirements set forth in subsection (b) above. The Company shall issue or cause
to be issued, and deliver (if applicable) to its transfer agent or to such Holder, or such Holder’s nominee or nominees,
the full number of shares of Common Stock to which such Holder shall be entitled, in book-entry format through the Depositary,
in satisfaction of the Company’s Conversion Obligation together with any Qualifying Fundamental Change Payment, if applicable. 

 

(d)          In
case any Note shall be surrendered for partial conversion, the Company shall deliver a Company Order, and the Company shall execute
and the Trustee shall authenticate and deliver to or upon the written order of the Holder of the Note so surrendered a new Note
or Notes in authorized denominations in an aggregate Principal Amount equal to the unconverted portion of the surrendered Note,
without payment of any service charge by the converting Holder but, if required by the Company or Trustee, with payment of a sum
sufficient to cover any documentary, stamp or similar issue or transfer tax or similar governmental charge required by law or that
may be imposed in connection therewith as a result of the name of the Holder of the new Notes issued upon such conversion being
different from the name of the Holder of the old Notes surrendered for such conversion.

 

    -48- 

     

    

 

(e)           If
a Holder submits a Note for conversion, the Company shall pay any documentary, stamp or similar issue or transfer tax due on the
issuance of any shares of Common Stock upon conversion, unless the tax is due because the Holder requests such shares of Common
Stock to be issued in a name other than such Holder’s name, in which case such Holder shall pay that tax. The conversion
of such a Holder’s Note may be delayed if the Trustee, and the Conversion Agent does not, receives a sum sufficient to pay
any tax that is due by such Holder in accordance with the immediately preceding sentence. 

 

(f)          Except
as provided in Section 9.04, no adjustment shall be made for dividends on any shares of Common Stock issued upon the
conversion of any Note as provided in this Article 9. 

 

(g)          Upon
the conversion of an interest in a Global Note, the Trustee, or the Note Custodian (if other than the Trustee) at the direction
of the Trustee, shall make a notation on such Global Note as to the reduction in the Principal Amount represented thereby. The
Company shall notify the Trustee in writing of any conversion of Notes effected through any Conversion Agent other than the Trustee. 

 

(h)          Upon
conversion, a Holder shall not receive any separate cash payment for accrued and unpaid interest, if any, except as set forth below.
The Company’s settlement of the full Conversion Obligation shall be deemed to satisfy in full its obligation to pay the Principal
Amount of the Note and accrued and unpaid interest, if any, to, but not including, the relevant Conversion Date. As a result, accrued
and unpaid interest, if any, to, but not including, the relevant Conversion Date shall be deemed to be paid in full rather than
cancelled, extinguished or forfeited. Notwithstanding the foregoing, if Notes are converted after the close of business on a Regular
Record Date, but prior to the open of business on the immediately following Interest Payment Date, Holders of such Notes as of
the close of business on such Regular Record Date shall receive the full amount of interest payable on such Notes on the corresponding
Interest Payment Date notwithstanding the conversion.

 

Notes
surrendered for conversion during the period from the close of business on any Regular Record Date to the open of business on the
immediately following Interest Payment Date shall be accompanied by funds equal to the amount of interest payable on the Notes
so converted on the corresponding Interest Payment Date (regardless of whether the Holder was the holder of record on the corresponding
Regular Record Date); provided that no such payment shall be required (1) for conversions following the Regular Record
Date immediately preceding the Stated Maturity; (2)  if the Company has specified a Fundamental Change Repurchase Date
that is after a Regular Record Date and on or prior to the Business Day immediately following the corresponding Interest Payment
Date, in respect of Notes converted; or (3) to the extent of any overdue interest, if any overdue interest exists at the time
of conversion with respect to such Note. Therefore, for the avoidance of doubt, all Holders of record on the Regular Record Date
immediately preceding the Stated Maturity and any Fundamental Change Repurchase Date described in clause (2) above
shall receive the full interest payment due on the Stated Maturity or other applicable Interest Payment Date in cash regardless
of whether their Notes have been converted or repurchased following such Regular Record Date.

 

(i)          The
Person in whose name the shares of Common Stock shall be issuable upon conversion shall become the holder of record of such shares
as of the close of business on the relevant Conversion Date. Upon a conversion of Notes, such Person shall no longer be a Holder
of such Notes surrendered for conversion; provided that (a) the converting Holder shall have the right to receive the
Conversion Obligation due upon conversion and the Qualifying Fundamental Change Payment, if applicable, and (b) in the case
of a conversion between a Regular Record Date and the corresponding Interest Payment Date, the Holder of record as of the close
of business on such Regular Record Date shall have the right to receive the full amount of interest payable on such Interest Payment
Date, in accordance with clause (h) above. 

 

(j)          The
Company shall not issue any fractional share of Common Stock upon conversion of the Notes and shall instead pay cash in lieu of
delivering any fractional share of Common Stock issuable upon conversion based on the Closing Sale Price of the Common Stock on the
relevant Conversion Date.

 

    -49- 

     

    

 

(k)          
The Company shall not effect any conversion of a Note, and no Holder shall have the right to convert any portion of such Note,
to the extent that after giving effect to such conversion, such Holder (together with such Holder’s affiliates) would Beneficially
Own in excess of 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to such conversion (the
“Conversion Limitation”). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially
owned by such Holder and its affiliates shall include the number of shares of Common Stock issuable upon conversion of a Note with
respect to which the determination of such sentence is being made, but shall exclude the number of shares of Common Stock which
would be issuable upon (A) conversion of the remaining, nonconverted portion of any Note beneficially owned by such Holder or any
of its affiliates and (B) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company
subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by such Holder
or any of its affiliates. Except as set forth in the preceding sentence, for purposes of this Section, beneficial ownership shall
be calculated in accordance with Section 13(d) of the Exchange Act. For purposes of this Section 9.02(k), in determining the number
of outstanding shares of Common Stock, such Holder may rely on the number of outstanding shares of Common Stock as reflected in
(x) the Company’s most recent annual, quarterly or current report on Form 10-K, Form 10-Q or Form 8-K, respectively, as the
case may be; (y) a more recent public announcement by the Company or (z) any other notice by the Company setting forth the number
of shares of Common Stock outstanding. For any reason at any time, upon the written or oral request of a Holder, the Company shall
within two Business Days confirm orally and in writing to such Holder the number of shares of Common Stock then outstanding. In
any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise
of securities of the Company, including any Note, by such Holder or its affiliates since the date as of which such number of outstanding
shares of Common Stock was reported. By written notice to the Company, any Holder may increase or decrease the Conversion Limitation
to any other percentage not in excess of 9.99% specified in such notice; provided that (i) any such increase will not be effective
until the 61st day after such notice is delivered to the Company, and (ii) any such increase or decrease will apply only to the
Holder sending such notice and not to any other Holder of Notes. Notwithstanding the foregoing, the Conversion Limitation shall
not be applicable (i) on any of the ten Trading Days up to and including the Stated Maturity, or (ii) on any of the ten Trading
Days up to and including the Effective Date of such Fundamental Change or (iii) during the period between the date that the Fundamental
Change notice is sent and the Fundamental Change Repurchase Date.

 

Section 9.03        Payment
in Connection with Conversion Upon a Qualifying Fundamental Change.

 

(a)          If
the Effective Date of a Qualifying Fundamental Change occurs prior to the Stated Maturity and a Holder elects to convert its Notes
in connection with such Qualifying Fundamental Change, the Company shall, under the circumstances described below, make a payment
to the Holder of such Notes equal to $130 per $1,000 Principal Amount of Converted Notes (the “Qualifying Fundamental
Change Payment”), as described below. A conversion of Notes shall be deemed for these purposes to be “in connection
with” such Qualifying Fundamental Change if the relevant Conversion Date occurs during the period from, and including, the
Effective Date of the Qualifying Fundamental Change up to, and including, the Business Day immediately prior to the related Fundamental
Change Repurchase Date (or, in the case of a Qualifying Fundamental Change that would have been a Fundamental Change but for the
proviso in clause (b) of the definition thereof, the 35th Trading Day immediately following the Effective Date
of such Qualifying Fundamental Change) (such period, the “Qualifying Fundamental Change Period”). 

 

(b)          Upon
surrender of Notes for conversion in connection with a Qualifying Fundamental Change, the Company shall satisfy the related Conversion
Obligation by delivering shares of Common Stock in accordance with Section 9.02; provided, however, that
if the consideration received by holders of the Common Stock in exchange for such Common Stock in any Qualifying Fundamental Change
described in clause (b) of the definition of Fundamental Change is composed entirely of cash, for any conversion of
Notes following the Effective Date of such Qualifying Fundamental Change, the Conversion Obligation shall be calculated based solely
on the price paid (or deemed to be paid) per share of the Common Stock in the Qualifying Fundamental Change (the “Stock Price”)
for the transaction and shall be deemed to be an amount of cash per $1,000 Principal Amount of converted Notes equal to the Conversion
Rate, multiplied by such Stock Price. If the holders of Common Stock receive in exchange for their Common Stock only cash
in a Qualifying Fundamental Change described in clause (b) of the definition of Fundamental Change, the Stock Price shall be the
cash amount paid per share. Otherwise, the Stock Price shall be the average of the Closing Sale Prices of the Common Stock over
the five consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the relevant Effective
Date. The Company shall make appropriate adjustments to the Stock Price, in its good faith determination, to account for any adjustment
to the Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend
Date, Effective Date or expiration date of the event occurs during such five consecutive Trading Day period. The Company shall
notify the Trustee, the Conversion Agent (if other than the Trustee) and Holders (a “Qualifying Fundamental Change Company
Notice”), in writing, of the Effective Date of any Qualifying Fundamental Change no later than five (5) Business Days
after such Effective Date, which notice shall contain the Company’s election regarding the portions or amounts of any Qualifying
Fundamental Change Payments to pay in Freely Tradable Common Stock pursuant to Section 9.03(c) below. 

 

    -50- 

     

    

 

(c)          The
Company will pay the Qualifying Fundamental Change Payment in cash; provided, however, that so long as the Qualifying Fundamental
Change Payment Price (as defined below) is not less than $5.01 per share (as appropriately adjusted for any stock split, reverse
stock split, stock dividend or other reclassification or combination of the Company’s Common Stock occurring after the date
of issuance of the Notes), the Company will have the option to pay any Qualifying Fundamental Change Payment in cash and/or by
delivering Freely Tradeable Common Stock. For all time periods, the number of shares of Freely Tradeable Common Stock a converting
Holder will receive, if any, will be the number of shares equal to the amount of the Qualifying Fundamental Change Payment to be
paid in Freely Tradeable Common Stock to such Holder, divided by the product of (x) 95% and (y) the Stock Price as determined in
Section 9.03(b) (such product, the “Qualifying Fundamental Change Payment Price”).

 

(d)          Nothing
in this Section 9.03 shall prevent an adjustment to the Conversion Rate pursuant to Section 9.04 in respect
of a Qualifying Fundamental Change.

 

Section 9.04        Adjustment
of Conversion Rate.

 

The Conversion Rate
shall be adjusted from time to time by the Company if any of the following events occurs, except that the Company shall not make
any adjustments to the Conversion Rate if Holders participate (other than in the case of (x) a share split or share combination
or (y) a tender or exchange offer), at the same time and upon the same terms as holders of the Common Stock and solely as
a result of holding the Notes, in any of the transactions described in this Section 9.04, without having to convert
their Notes as if they held a number of shares of Common Stock equal to the Conversion Rate, multiplied by the Principal
Amount (expressed in thousands) of Notes held by such Holder.

 

(a)          If
the Company exclusively issues shares of the Common Stock as a dividend or distribution on shares of the Common Stock, or if the
Company effects a share split or share combination, the Conversion Rate shall be adjusted based on the following formula:

 

 

where,

 

	CR0	 	=	 	the Conversion Rate in effect immediately prior to the close of business on the Record Date of such dividend or distribution, or immediately prior to the open of business on the Effective Date of such share split or share combination, as applicable;
	 	 	 	 	 
	CR1	 	=	 	the Conversion Rate in effect immediately after the close of business on such Record Date or immediately after the open of business on such Effective Date, as applicable;
	 	 	 	 	 
	OS0	 	=	 	the number of shares of the Common Stock outstanding immediately prior to the close of business on such Record Date or immediately prior to the open of business on such Effective Date, as applicable (before giving effect to any such dividend, distribution, split or combination); and
	 	 	 	 	 
	OS1	 	=	 	the number of shares of the Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination.

 

    -51- 

     

    

 

Any adjustment made under this Section 9.04(a) shall become effective immediately after the close of business
on the Record Date for such dividend or distribution, or immediately after the open of business on the Effective Date for such
share split or share combination, as applicable. If any dividend or distribution of the type described in this Section 9.04(a) is
declared but not so paid or made, the Conversion Rate shall be immediately readjusted, effective as of the date the Board of Directors
determines not to pay such dividend or distribution, to the Conversion Rate that would then be in effect if such dividend or distribution
had not been declared.

 

(b)          If
the Company distributes to all or substantially all holders of the Common Stock any rights, options or warrants (other than pursuant
to a stockholder rights plan) entitling them, for a period of not more than 45 calendar days after the announcement date of such
distribution, to subscribe for or purchase shares of the Common Stock at a price per share that is less than the average of the
Closing Sale Prices of the Common Stock for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately
preceding the date of announcement of such distribution, the Conversion Rate shall be increased based on the following formula:

 

 

where,

 

	CR0	 	=	 	the Conversion Rate in effect immediately prior to the close of business on the Record Date for such distribution;
	 	 	 	 	 
	CR1	 	=	 	the Conversion Rate in effect immediately after the close of business on such Record Date;

 

	OS0	 	=	 	the number of shares of the Common Stock outstanding immediately prior to the close of business on such Record Date;
	 	 	 	 	 
	X	 	=	 	the total number of shares of the Common Stock distributable pursuant to such rights, options or warrants; and
	 	 	 	 	 
	Y	 	=	 	the number of shares of the Common Stock equal to the aggregate price payable to exercise such rights, options or warrants, divided by the average of the Closing Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of the distribution of such rights, options or warrants.

 

Any increase made under
this Section 9.04(b) shall be made successively whenever any such rights, options or warrants are distributed
and shall become effective immediately after the close of business on the Record Date for such distribution. To the extent that
such rights, options or warrants are not exercised prior to their expiration or shares of Common Stock are not delivered after
the expiration of such rights, options or warrants, the Conversion Rate shall be decreased to the Conversion Rate that would then
be in effect had the increase with respect to the distribution of such rights, options or warrants been made on the basis of delivery
of only the number of shares of Common Stock actually delivered. If such rights, options or warrants are not so distributed or
if such rights, options or warrants are not exercised prior to their expiration, the Conversion Rate shall be decreased to the
Conversion Rate that would then be in effect if such Record Date for such distribution had not occurred.

 

For the purpose of
this Section 9.04(b), in determining whether any rights, options or warrants entitle the holders to subscribe for or
purchase shares of the Common Stock at less than such average of the Closing Sale Prices of the Common Stock for the 10 consecutive
Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such distribution,
and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration
received by the Company for such rights, options or warrants and any amount payable on exercise or conversion thereof, the value
of such consideration, if other than cash, to be determined by the Company in good faith and in a commercially reasonable manner.

 

    -52- 

     

    

 

(c)          If
the Company distributes shares of its Capital Stock, evidences of its Indebtedness, other assets or property of the Company or
rights, options or warrants to acquire its Capital Stock or other securities, to all or substantially all holders of the Common
Stock, excluding (i) dividends, distributions or issuances as to which an adjustment was effected or pursuant to Section 9.04(a) or
Section 9.04(b) or will be so effected in accordance with the 1% Provision, (ii) except as otherwise provided
below, rights issued pursuant to any stockholder rights plan of the Company then in effect, (iii) dividends or distributions
paid exclusively in cash as to which the provisions set forth in Section 9.04(d) shall apply, (iv) dividends
or distributions of Reference Property issued in exchange for the Common Stock pursuant to Section 9.07, and (v) Spin-Offs
as to which the provisions set forth below in this Section 9.04(c) shall apply (any of such shares of Capital
Stock, evidences of Indebtedness, other assets or property or rights, options or warrants to acquire Capital Stock or other securities,
the “Distributed Property”), then the Conversion Rate shall be increased based on the following formula:

 

 

where,

 

	CR0	 	=	 	the Conversion Rate in effect immediately prior to the close of business on the Record Date for such distribution;
	 	 	 	 	 
	CR1	 	=	 	the Conversion Rate in effect immediately after the close of business on such Record Date;

 

	SP0	 	=	 	the average of the Closing Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and
	 	 	 	 	 
	FMV	 	=	 	the fair market value (as determined by the Company in good faith and in a commercially reasonable manner) of the Distributed Property distributed with respect to each outstanding share of the Common Stock on the Record Date for such distribution.

 

Any increase made under
the portion of this Section 9.04(c) above shall become effective immediately after the close of business on the
Record Date for such distribution. If such distribution is not so paid or made, the Conversion Rate shall be decreased to the Conversion
Rate that would then be in effect if such distribution had not been declared. In the case of any distribution of rights, options
or warrants, to the extent such rights options or warrants expire unexercised, the applicable Conversion Rate shall be immediately
readjusted to the applicable Conversion Rate that would then be in effect had the increase made for the distribution of such rights,
options or warrants been made on the basis of delivery of only the number of shares of Common Stock actually delivered upon exercise
of such rights, options or warrants. Notwithstanding the foregoing, if “FMV” (as defined above) is equal to or greater
than “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, in respect of
each $1,000 Principal Amount thereof, at the same time and upon the same terms as holders of the Common Stock receive the Distributed
Property without having to convert its Notes, the amount and kind of Distributed Property such Holder would have received if such
Holder owned a number of shares of Common Stock equal to the Conversion Rate in effect on the Record Date for the distribution.
If the Company determines the “FMV” (as defined above) of any distribution for purposes of this Section 9.04(c) by
reference to the actual or when-issued trading market for any securities, it shall in doing so consider the prices in such market
over the same period used in computing “SP0.”

 

    -53- 

     

    

 

With respect to an
adjustment pursuant to this Section 9.04(c) where there has been a payment of a dividend or other distribution
on the Common Stock of shares of Capital Stock of any class or series, or similar equity interest, of or relating to a Subsidiary
or other business unit of the Company, that are, or, when issued, will be, listed or admitted for trading on a U.S. national securities
exchange (a “Spin-Off”), the Conversion Rate shall be increased based on the following formula:

 

 

where,

 

	CR0	 	=	 	the Conversion Rate in effect immediately prior to the end of the Valuation Period;
	 	 	 	 	 
	CR1	 	=	 	the Conversion Rate in effect immediately after the end of the Valuation Period;
	 	 	 	 	 
	FMV0	 	=	 	the average of the Closing Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of the Common Stock (determined by reference to the definition of Closing Sale Price as if references therein to Common Stock were to such Capital Stock or similar equity interest) over the first 10 consecutive Trading Day period after, and including, the Ex-Dividend Date of the Spin-Off (the “Valuation Period”); and
	 	 	 	 	 
	MP0	 	=	 	the average of the Closing Sale Prices of the Common Stock over the Valuation Period.

 

The increase to the
Conversion Rate under the preceding paragraph shall occur at the close of business on the last Trading Day of the Valuation Period;
provided that in respect of any conversion of Notes, if the relevant Conversion Date occurs during the Valuation Period,
the references to “10” in the preceding paragraph shall be deemed to be replaced with such lesser number of Trading
Days as have elapsed between the Ex-Dividend Date of such Spin-Off and such Conversion Date in determining the Conversion Rate.
If any dividend or distribution that constitutes a Spin-Off is declared but not so paid or made, the Conversion Rate shall be immediately
decreased, effective as of the date the Board of Directors determines not to pay or make such dividend or distribution, to the
Conversion Rate that would then be in effect if such dividend or distribution had not been declared or announced.

 

For purposes of this
Section 9.04(c) (and subject in all respects to Section 9.11), rights, options or warrants distributed
by the Company to all holders of the Common Stock entitling them to subscribe for or purchase shares of the Company’s Capital
Stock, including shares of Common Stock (either initially or under certain circumstances), which rights, options or warrants, until
the occurrence of a specified event or events (“Trigger Event”): (i) are deemed to be transferred with
such shares of the Common Stock; (ii) are not exercisable; and (iii) are also issued in respect of future issuances of
the Common Stock, shall be deemed not to have been distributed for purposes of this Section 9.04(c) (and no adjustment
to the Conversion Rate under this Section 9.04(c) will be required) until the occurrence of the earliest Trigger
Event, whereupon such rights, options or warrants shall be deemed to have been distributed and an appropriate adjustment (if any
is required) to the Conversion Rate shall be made under this Section 9.04(c). If any such right, option or warrant,
including any such existing rights, options or warrants distributed prior to the date of the Indenture, are subject to events,
upon the occurrence of which such rights, options or warrants become exercisable to purchase different securities, evidences of
Indebtedness or other assets, then the date of the occurrence of any and each such event shall be deemed to be the date of distribution
and Record Date with respect to new rights, options or warrants with such rights (in which case the existing rights, options or
warrants shall be deemed to terminate and expire on such date without exercise by any of the holders thereof). In addition, in
the event of any distribution (or deemed distribution) of rights, options or warrants, or any Trigger Event or other event (of
the type described in the immediately preceding sentence) with respect thereto that was counted for purposes of calculating a distribution
amount for which an adjustment to the Conversion Rate under this Section 9.04(c) was made, (1) in the case
of any such rights, options or warrants that shall all have been redeemed or purchased without exercise by any holders thereof,
upon such final redemption or purchase (x) the Conversion Rate shall be readjusted as if such rights, options or warrants
had not been issued and (y) the Conversion Rate shall then again be readjusted to give effect to such distribution, deemed
distribution or Trigger Event, as the case may be, as though it were a cash distribution, equal to the per share redemption or
purchase price received by a holder or holders of Common Stock with respect to such rights, options or warrants (assuming such
holder had retained such rights, options or warrants), made to all holders of Common Stock as of the date of such redemption or
purchase, and (2) in the case of such rights, options or warrants that shall have expired or been terminated without exercise
by any holders thereof, the Conversion Rate shall be readjusted as if such rights, options and warrants had not been issued.

 

    -54- 

     

    

 

For purposes of Section 9.04(a),
Section 9.04(b) and this Section 9.04(c), if any dividend or distribution to which this Section 9.04(c) is
applicable also includes one or both of:

 

(A) a dividend or distribution
of shares of Common Stock to which Section 9.04(a) is applicable (the “Clause A Distribution”);
or

 

(B) a dividend or distribution
of rights, options or warrants to which Section 9.04(b) is applicable (the “Clause B Distribution”),

 

then, in either case, (1) such dividend or distribution, other than the Clause A Distribution and the Clause B Distribution,
shall be deemed to be a dividend or distribution to which this Section 9.04(c) is applicable (the “Clause
C Distribution”) and any Conversion Rate adjustment required by this Section 9.04(c) with respect to
such Clause C Distribution shall then be made, and (2) the Clause A Distribution and Clause B Distribution shall be deemed
to immediately follow the Clause C Distribution and any Conversion Rate adjustment required by Section 9.04(a) and
Section 9.04(b) with respect thereto shall then be made, except that, if determined by the Company (I) the
“Record Date” of the Clause A Distribution and the Clause B Distribution shall be deemed to be the Record Date of the
Clause C Distribution and (II) any shares of Common Stock included in the Clause A Distribution or Clause B Distribution shall
be deemed not to be “outstanding immediately prior to the close of business on such Record Date or immediately after the
open of business on such Effective Date, as applicable” within the meaning of Section 9.04(a) or “outstanding
immediately prior to the close of business on such Record Date” within the meaning of Section 9.04(b).

 

(d)          If
the Company pays or makes any cash dividend or distribution to all or substantially all holders of the shares of the Common Stock,
the Conversion Rate shall be adjusted based on the following formula:

 

 

where,

 

	CR0	 	=	 	the Conversion Rate in effect immediately prior to the close of business on the Record Date for such dividend or distribution;
	 	 	 	 	 
	CR1	 	=	 	the Conversion Rate in effect immediately after the close of business on such Record Date for such dividend or distribution;
	 	 	 	 	 
	SP0	 	=	 	the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and
	 	 	 	 	 
	C	 	=	 	the amount in cash per share of the Common Stock the Company distributes to all or substantially all holders of the Common Stock.

 

Any increase to the Conversion Rate made pursuant to this Section 9.04(d) shall become effective immediately after
the close of business on the Record Date for such dividend or distribution. If such dividend or distribution is not so paid, the
Conversion Rate shall be decreased, effective as of the date the Board of Directors determines not to make or pay such dividend
or distribution, to be the Conversion Rate that would then be in effect if such dividend or distribution had not been declared.
Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0” (as defined
above), in lieu of the foregoing increase, each Holder of a Note shall receive, for each $1,000 Principal Amount of Notes, at the
same time and upon the same terms as holders of shares of the Common Stock without having to convert its Notes, the amount of cash
that such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the
Record Date for such cash dividend or distribution.

 

    -55- 

     

    

 

(e)          If
the Company or any of its Subsidiaries make a payment pursuant to a tender or exchange offer for the Common Stock that is subject
to the then-applicable tender offer rules under the Exchange Act (other than any odd-lot tender offer), to the extent that
the cash and value of any other consideration included in the payment per share of the Common Stock exceeds the average of the
Closing Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day
next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer (the “Expiration
Date”), the Conversion Rate shall be increased based on the following formula:

 

 

where,

 

	CR0	 	=	 	the Conversion Rate in effect immediately prior to the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Date;
	 	 	 	 	 
	CR1	 	=	 	the Conversion Rate in effect immediately after the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Date;
	 	 	 	 	 
	AC	 	=	 	the aggregate value of all cash and any other consideration (as determined by the Company in good faith and in a commercially reasonable manner) paid or payable for shares of Common Stock purchased in such tender or exchange offer;

	OS0	 	=	 	the number of shares of Common Stock outstanding immediately prior to the Expiration Date (prior to giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer);
	 	 	 	 	 
	OS1	 	=	 	the number of shares of Common Stock outstanding immediately after the Expiration Date (after giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer); and
	 	 	 	 	 
	SP1	 	=	 	the average of the Closing Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Expiration Date.

 

The increase to the
Conversion Rate under this Section 9.04(e) shall occur at the close of business on the 10th Trading Day immediately
following, and including, the Trading Day next succeeding the Expiration Date; provided that, in respect of any conversion
of Notes, if the relevant Conversion Date occurs during the 10 Trading Days immediately following, and including, the Trading Day
next succeeding the Expiration Date, references to “10” or “10th” in the preceding paragraph shall be deemed
replaced with such lesser number of Trading Days as have elapsed between the Expiration Date and such Conversion Date in determining
the Conversion Rate.

 

If the Company is
obligated to purchase shares of Common Stock pursuant to any such tender or exchange offer described in this Section 9.04(e) but
is permanently prevented by applicable law from effecting any such purchase or all such purchases are rescinded, the applicable
Conversion Rate will be readjusted to be the Conversion Rate that would then be in effect if such tender or exchange offer had
not been made or had been made only in respect of the purchases that have been effected.

 

(f)          There
shall be no adjustment pursuant to any of clauses (a), (b), (c), (d), and (e) if such adjustment would result in the shares of
common stock being issued or being deemed to have been issued below $5.01 (as appropriately adjusted for any stock split, reverse
stock split, stock dividend or other reclassification or combination of the Company’s Common Stock occurring after the date
of issuance of the Notes) for purpose of NASDAQ Rule 5635(d) or any successor to such rule.

 

(g)          Except
as stated herein, the Company shall not adjust the Conversion Rate for the issuance of shares of Common Stock or any securities
convertible into or exchangeable for shares of Common Stock or the right to purchase shares of Common Stock or such convertible
or exchangeable securities. 

 

    -56- 

     

    

 

(h)          In
addition to those adjustments required by clauses (a), (b), (c), (d), and (e) of this Section 9.04,
and to the extent permitted by applicable law and subject to the applicable rules of any exchange on which any securities
of the Company are then listed, the Company from time to time may increase the Conversion Rate by any amount for a period of at
least 20 Business Days if the Company determines that such increase would be in the Company’s best interest. In addition,
to the extent permitted by applicable law and subject to the applicable rules of any exchange on which any of the Company’s
securities are then listed, the Company may (but is not required to) increase the Conversion Rate to avoid or diminish any income
tax to holders of Common Stock or rights to purchase shares of Common Stock in connection with a dividend or distribution of shares
of Common Stock (or rights to acquire shares of Common Stock) or similar event. Whenever the Conversion Rate is increased pursuant
to either of the preceding two sentences, the Company shall deliver to the Holder of each Note a notice of the increase at least
15 days prior to the date the increased Conversion Rate takes effect, and such notice shall state the increased Conversion Rate
and the period during which it will be in effect.

 

(i)           Notwithstanding
anything to the contrary in this Article 9, the Conversion Rate shall not be adjusted: 

 

(i)            upon
the issuance or deemed issuance of shares of Common Stock at a price below the Conversion Price or otherwise, other than for any
adjustment described in Section 9.04(a), Section 9.04(b), or Section 9.04(c); 

 

(ii)           upon
the issuance of any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or
interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock
under any plan; 

 

(iii)          upon
the issuance of any shares of capital stock, rights, warrants or options to subscribe for or purchase Common Stock or Convertible
Securities (as hereinafter defined) (“Options”) issued to directors, officers, employees or consultants of the Company
or its Subsidiaries in connection with their service as directors of the Company or its Subsidiaries, their employment by the Company
or its Subsidiaries or their retention as consultants by the Company or its Subsidiaries pursuant to an employee benefit plan approved
by the Board of Directors of the Company or the compensation committee of the Board of Directors of the Company;

 

(iv)          upon
the issuance of any shares of Common Stock issued upon the conversion or exercise of Options or any stock or securities (other
than Options) directly or indirectly convertible into or exercisable or exchangeable for shares of Common Stock (“Convertible
Securities”) that were issued and outstanding immediately preceding the execution and delivery of the Underwriting Agreements
(the “Effective Time”), provided such securities are not amended after the Effective Time to increase the number of
shares of Common Stock issuable thereunder, lower the exercise or conversion price thereof or extend the term thereof;

 

(v)           for
a third-party tender offer by any party other than a tender offer by one or more of the Company’s Subsidiaries as described
in Section 9.04(e);

 

(vi)          upon
the repurchase of any shares of the Common Stock pursuant to an open market share repurchase program or other buy-back transaction,
including structured or derivative transactions such as accelerated share repurchase transactions or similar forward derivatives,
or other buy-back transaction, that is not a tender offer or exchange offer of the kind described in Section 9.04(e);

 

(vii)         solely
for a change in the par value of the Common Stock; or

 

(viii)        upon
the issuance of securities issued pursuant to the Underwriting Agreements and shares of Common Stock issued in respect of such
securities.

 

    -57- 

     

    

 

(j)          All
calculations and other determinations under this Article 9 shall be made by the Company and all calculations of the
Conversion Rate shall be made to the nearest one-ten thousandth (1/10,000th) of a share. 

 

(k)          If
an adjustment to the Conversion Rate otherwise required by the provisions described in Section 9.04 would result in
a change of less than 1% to the Conversion Rate, then, notwithstanding the foregoing, the Company may, at its election, defer and
carry forward such adjustment, except that all such deferred adjustments must be given effect immediately upon the earliest to
occur of the following: (i) when all such deferred adjustments would result in an aggregate change of at least 1% to the Conversion
Rate; (ii) the Conversion Date for any Notes; and (iii) on the Effective Date of any Qualifying Fundamental Change, in
each case, unless the adjustment has already been made (the “1% Provision”). 

 

(l)          Whenever
the Conversion Rate is adjusted as herein provided, the Company shall promptly file with the Trustee (and the Conversion Agent
if not the Trustee) an Officer’s Certificate setting forth the Conversion Rate after such adjustment and setting forth a
brief statement of the facts requiring such adjustment. Unless and until a Responsible Officer of the Trustee (and the Conversion
Agent if not the Trustee) shall have received such Officer’s Certificate, the Trustee (and the Conversion Agent if not the
Trustee) shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume without inquiry that the
last Conversion Rate of which it has knowledge is still in effect. Promptly after delivery of such certificate, the Company shall
prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which each
adjustment becomes effective and shall deliver such notice of such adjustment of the Conversion Rate to each Holder. Failure to
deliver such notice shall not affect the legality or validity of any such adjustment and for the avoidance of doubt, neither the
Trustee nor the Conversion Agent shall have any liability or responsibility for the Conversion Rate (or any adjustments thereof),
the calculation thereof or application thereof. 

 

(m)          For
purposes of this Section 9.04, the number of shares of Common Stock at any time outstanding shall not include shares
of Common Stock held in the treasury of the Company so long as the Company does not pay any dividend or make any distribution on
shares of Common Stock held in the treasury of the Company, but shall include shares of Common Stock issuable in respect of scrip
certificates issued in lieu of fractions of shares of Common Stock.

 

Section 9.05        Adjustments
of Prices.

 

Whenever any provision
of the Indenture requires the Company to calculate the Closing Sale Prices or the Daily VWAPs over a span of multiple days (including,
without limitation, the period, if any, for determining the Stock Price for purposes of a Qualifying Fundamental Change), the Company
shall make appropriate adjustments in good faith and in a commercially reasonable manner (to the extent no corresponding adjustment
is otherwise made pursuant to the provisions described under Section 9.04) to each to account for any adjustment to
the Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend Date,
Effective Date or Expiration Date, as the case may be, of the event occurs, at any time during the period when the Closing Sale
Prices or the Daily VWAPs, are to be calculated.

 

For the avoidance
of doubt, the adjustments made pursuant to this Section 9.05 shall be made, solely to the extent the Company determines
in good faith and in a commercially reasonable manner that any such adjustment is appropriate, without duplication of any adjustment
made pursuant to the provision set forth under Section 9.04.

 

Section 9.06        Share
Reservations.

 

The Company shall
reserve and keep available at all times, free from preemptive rights, out of its authorized but unissued shares, the maximum number
of shares of Common Stock issuable upon conversion of the Notes (including the Interest Make-Whole Payment and the Qualifying Fundamental
Change Payment, assuming the Company elects to make such payments solely by delivery of shares of Common Stock) (the “Maximum
Share Reserve”) to provide for issuance upon conversion of the Notes from time to time as such Notes are presented for
conversion.

 

    -58- 

     

    

 

Section 9.07        Effect
of Recapitalizations, Reclassifications and Changes of the Common Stock.

 

(a)          In
the case of: 

 

(i)            any
recapitalization, reclassification or change of the Common Stock (other than a change to par value, or from par value to no par
value, or changes resulting from a share split or share combination),

 

(ii)           any
consolidation, merger or combination involving the Company,

 

(iii)          any
sale, lease or other transfer to a third party of all or substantially all of the consolidated assets of the Company and the Company’s
Subsidiaries, taken as a whole; or

 

(iv)          any
statutory share exchange, 

 

in each case, as a result of which the
Common Stock would be converted into, or exchanged for, stock, other securities or other property or assets (including cash or
any combination thereof) (any such event, a “Share Exchange Event”), then, at and after the effective time of
such Share Exchange Event, the right to convert each $1,000 Principal Amount of Notes shall be changed into a right to convert
such Principal Amount of Notes into the kind and amount of shares of stock, other securities or other property or assets (including
cash or any combination thereof) that a holder of a number of shares of the Common Stock equal to the Conversion Rate immediately
prior to such Share Exchange Event would have owned or been entitled to receive (the “Reference Property”, with
each “unit of Reference Property” meaning the kind and amount of Reference Property that a holder of one share
of Common Stock would have been entitled to receive) upon such Share Exchange Event; provided, however, that at and
after the effective time of the Share Exchange Event, the number of shares of Common Stock otherwise deliverable upon conversion
of the Notes in accordance with Section 9.02 shall instead be deliverable in the amount and type of Reference Property
that a holder of that number of shares of Common Stock would have been entitled to receive in such Share Exchange Event.

 

If the Share Exchange
Event causes the Common Stock to be converted into, or exchanged for, the right to receive more than a single type of consideration
(determined based in part upon any form of stockholder election), then (i) the Reference Property into which the Notes will
be convertible shall be deemed to be (x) the weighted average of the types and amounts of consideration received by the holders
of Common Stock that affirmatively make such an election or (y) if no holders of Common Stock affirmatively make such an election,
the types and amounts of consideration actually received by the holders of Common Stock, and (ii) the unit of Reference Property
for purposes of the immediately preceding paragraph shall refer to the consideration referred to in clause (i) attributable
to one share of Common Stock. The Company shall notify Holders, the Trustee and the Conversion Agent (if other than the Trustee)
in writing of such weighted average as soon as reasonably practicable after such determination is made.

 

If the Reference Property
in respect of any Share Exchange Event includes, in whole or in part, shares of Common Equity, the supplemental indenture providing
that the Notes will be convertible into Reference Property will also provide for anti-dilution and other adjustments that are as
nearly equivalent as possible to the adjustments described under Section 9.04 with respect to the portion of the Reference
Property consisting of such Common Equity.  If the Reference Property in respect of any Share Exchange Event includes shares
of stock, securities or other property or assets (other than cash and/or Cash Equivalents) of a company other than the Company
or the successor or purchasing corporation, as the case may be, in such Share Exchange Event, then such other company, if an Affiliate
of the Company or the successor or acquiring company, shall also execute such supplemental indenture, and such supplemental indenture
shall contain such additional provisions to protect the interests of the Holders, including the right of Holders to require the
Company to repurchase their Notes upon a Fundamental Change pursuant to Section 10.01, as the Company in good faith
reasonably considers necessary by reason of the foregoing.

 

(b)          Promptly
following execution by the Company of a supplemental indenture pursuant to subsection (a) of this Section 9.07,
the Company shall file with the Trustee an Officer’s Certificate briefly stating the reasons therefor, the kind or amount
of cash, securities or property or asset that will comprise a unit of Reference Property after any such Share Exchange Event, any
adjustment to be made with respect thereto and that all conditions precedent have been complied with, and shall promptly deliver
notice thereof to all Holders. The Company shall cause notice of the execution of such supplemental indenture to be delivered to
each Holder, within twenty days after execution thereof. Failure to deliver such notice shall not affect the legality or validity
of such supplemental indenture. 

 

    -59- 

     

    

 

(c)          The
Company shall not become a party to any Share Exchange Event unless its terms are consistent with this Section 9.07.
None of the foregoing provisions shall affect the right of a Holder to convert its Notes into cash, shares of Common Stock or a
combination of cash and shares of Common Stock, as applicable, as set forth in Section 9.01 and Section 9.02
prior to the Effective Date of such Share Exchange Event. 

 

(d)          The
above provisions of this Section 9.07 shall similarly apply to successive Share Exchange Events.

 

Section 9.08        Certain
Covenants

 

(a)          The
Company covenants that all shares of Common Stock issuable pursuant to an Interest Make-Whole Payment and/or pursuant to a Qualifying
Fundamental Change Payment will be Freely Tradeable.

 

(b)          The
Company covenants that all shares of Common Stock issued upon conversion of Notes will be fully paid and non-assessable by the
Company and free from all taxes, liens and charges with respect to the issue thereof.

 

(c)          The
Company covenants that, if any shares of Common Stock to be provided for the purpose of conversion of Notes hereunder require registration
with or approval of any governmental authority under any federal or state law before such shares of Common Stock may be validly
issued upon conversion, the Company will, to the extent then permitted by the rules and interpretations of the Commission,
secure such registration or approval, as the case may be.

 

(d)           The
Company further covenants that if at any time the Common Stock shall be listed on any national securities exchange or automated
quotation system the Company will list and keep listed, so long as the Common Stock shall be so listed on such exchange or automated
quotation system, any Common Stock issuable upon conversion of the Notes.

 

Section 9.09        Responsibility
of Trustee.

 

The Trustee and any
other Conversion Agent shall not at any time be under any duty or responsibility to any Holder to determine the Conversion Rate
(or any adjustment thereto) or whether any facts exist that may require any adjustment (including any increase) of the Conversion
Rate, or with respect to the nature or extent or calculation of any such adjustment when made, or with respect to the method employed,
or herein or in any supplemental indenture provided to be employed, in making the same. The Trustee and any other Conversion Agent
shall not be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock, or of any
securities, property or cash that may at any time be issued or delivered upon the conversion of any Note; and the Trustee and any
other Conversion Agent make no representations with respect thereto. Neither the Trustee nor any Conversion Agent shall be responsible
for any failure of the Company to issue, transfer or deliver any shares of Common Stock or stock certificates or other securities
or property or cash upon the surrender of any Note for the purpose of conversion or to comply with any of the duties, responsibilities
or covenants of the Company contained in this Article. Without limiting the generality of the foregoing, neither the Trustee nor
any Conversion Agent shall be under any responsibility to determine the correctness of any provisions contained in any supplemental
indenture entered into pursuant to Section 9.07 relating either to the kind or amount of shares of stock or securities
or property (including cash) receivable by Holders upon the conversion of their Notes after any event referred to in such Section 9.07
or to any adjustment to be made with respect thereto, may accept (without any independent investigation) as conclusive evidence
of the correctness of any such provisions, and shall be protected in relying upon, the Officer’s Certificate (which the Company
shall be obligated to file with the Trustee prior to the execution of any such supplemental indenture) with respect thereto.

 

    -60- 

     

    

 

Section 9.10        Notice
to Holders Prior to Certain Actions.

 

In case of any:

 

(a)          action
by the Company or one of its Subsidiaries that would require an adjustment in the Conversion Rate pursuant to Section 9.04
or Section 9.11; 

 

(b)          Share
Exchange Event; or 

 

(c)          voluntary
or involuntary dissolution, liquidation or winding-up of the Company; 

 

then, in each case (unless notice of such
event is otherwise required pursuant to another provision of the Indenture, in which case the timing and delivery requirements
of such provision shall supersede this Section 9.10), the Company shall cause to be filed with the Trustee and the
Conversion Agent (if other than the Trustee) and to be delivered to each Holder, as promptly as possible but in any event at least
3 Business Days after the occurrence of such event. Failure to give such notice, or any defect therein, shall not affect the legality
or validity of such action by the Company or one of its Subsidiaries, Share Exchange Event, dissolution, liquidation or winding-up.

 

Section 9.11        Stockholder
Rights Plans.

 

If the Company has
a stockholder rights plan in effect upon conversion of the Notes, each share of Common Stock, if any, issued upon such conversion
shall be entitled to receive the appropriate number of rights, if any, and the certificates representing the Common Stock issued
upon such conversion shall bear such legends, if any, in each case as may be provided by the terms of any such stockholder rights
plan, as the same may be amended from time to time. However, if, prior to any conversion of Notes, the rights have separated from
the shares of Common Stock in accordance with the provisions of the applicable stockholder rights plan, the Conversion Rate shall
be adjusted at the time of separation as if the Company distributed to all or substantially all holders of the Common Stock Distributed
Property as provided in Section 9.04(c), subject to readjustment in the event of the expiration, termination or redemption
of such rights.

 

ARTICLE
10.

REPURCHASE OF NOTES AT OPTION OF HOLDERS

 

Section 10.01      Repurchase
at Option of Holder Upon Fundamental Change.

 

(a)          If
a Fundamental Change occurs at any time prior to the Stated Maturity, each Holder shall have the right, at such Holder’s
option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion thereof that is equal to
$1,000 or an integral multiple of $1,000, on the date (the “Fundamental Change Repurchase Date”) specified by
the Company that is not less than 20 Business Days or more than 35 Business Days following the date of the Fundamental Change Company
Notice at a repurchase price equal to 100% of the Principal Amount thereof, plus accrued and unpaid interest thereon to,
but excluding, the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”), unless the
Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such
Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest (to, but
not including, such Interest Payment Date) to Holders of record as of such Regular Record Date, and the Fundamental Change Repurchase
Price shall be equal to 100% of the Principal Amount of Notes to be repurchased pursuant to this ARTICLE 10.

 

(b)          Repurchases
of Notes under this Section 10.01 shall be made, at the option of the Holder thereof, upon: 

 

(i)            delivery
to the Trustee by a Holder of a duly completed notice (the “Fundamental Change Repurchase Notice”) in the form
set forth in Attachment 3 to the Form of Note attached hereto as Exhibit A, if the Notes are Physical Notes, or in compliance with
the Applicable Procedures of the Depositary, if the Notes are Global Notes, in each case at any time prior to the close of business
on second Business Day immediately preceding the Fundamental Change Repurchase Date; and

 

    -61- 

     

    

 

(ii)           delivery
of the Notes, if the Notes are Physical Notes, to the paying agent at any time after delivery of the Fundamental Change Repurchase
Notice (together with all necessary endorsements for transfer) at the Corporate Trust Office of the Paying Agent, or if the Notes
are Global Notes, in compliance with the Applicable Procedures of the Depositary, in each case such delivery being a condition
to receipt by the Holder of the Fundamental Change Repurchase Price therefor.

 

The Fundamental Change
Repurchase Notice in respect of any Notes to be repurchased that are Physical Notes shall state:

 

(i)            the
certificate numbers of the Notes to be delivered for repurchase;

 

(ii)           the
portion of the Principal Amount of Notes to be repurchased, which must be $1,000 or an integral multiple thereof; and

 

(iii)          that
the Notes are to be repurchased by the Company pursuant to the applicable provisions of the Notes and the Indenture; 

 

provided, however, that if
the Notes are Global Notes, Holders must surrender their Notes in accordance with the Applicable Procedures of the Depositary.

 

Notwithstanding anything herein to the
contrary, any Holder delivering to the Trustee (or, in the case of the Global Notes, otherwise in accordance with the Applicable
Procedures of the Depositary) the Fundamental Change Repurchase Notice contemplated by this Section 10.01 shall have the right
to withdraw, in whole or in part, such Fundamental Change Repurchase Notice at any time prior to the close of business on the second
Business Day immediately preceding the Fundamental Change Repurchase Date by delivery of a written notice of withdrawal to the
Trustee in accordance with Section 10.02.

 

The Trustee shall promptly notify the Company
of the receipt by it of any Fundamental Change Repurchase Notice or written notice of withdrawal thereof.

 

No Fundamental Change Repurchase Notice
with respect to any Notes may be surrendered by a Holder thereof if such Holder has also surrendered a Repurchase Notice and has
not validly withdrawn such Repurchase Notice in accordance with Section 10.02.

 

(c)          On
or before the 20th Business Day after the occurrence of the Effective Date of a Fundamental Change, the Company shall provide to
all Holders of Notes, the Trustee, the Conversion Agent (if other than the Trustee) and the paying agent (if other than the Trustee)
a notice (the “Fundamental Change Company Notice”) of the occurrence of the Effective Date of the Fundamental
Change and of the repurchase right at the option of the Holders arising as a result thereof. In the case of Physical Notes, such
notice shall be by first class mail or, in the case of Global Notes, such notice shall be delivered in accordance with the Applicable
Procedures of the Depositary. Each Fundamental Change Company Notice shall specify: 

 

(i)            the
events causing the Fundamental Change;

 

(ii)           the
Effective Date of the Fundamental Change;

 

(iii)          the
last date on which a Holder may exercise the repurchase right pursuant to this ARTICLE 10;

 

(iv)          the
Fundamental Change Repurchase Price;

 

    -62- 

     

    

 

(v)           the
Fundamental Change Repurchase Date;

 

(vi)          the
name and address of the paying agent and the Conversion Agent, if applicable;

 

(vii)          if
applicable, the Conversion Rate and any adjustments to the Conversion Rate;

 

(viii)        that
the Notes with respect to which a Fundamental Change Repurchase Notice has been delivered by a Holder may be converted only if
the Holder withdraws the Fundamental Change Repurchase Notice in accordance with the terms of the Indenture; and

 

(ix)          the
procedures that Holders must follow to require the Company to repurchase their Notes.

 

 No failure of the Company to give
the foregoing notices and no defect therein shall limit the Holders’ repurchase rights or affect the validity of the proceedings
for the repurchase of the Notes pursuant to this Section 10.01. Notwithstanding anything to the contrary above, the Company will
not be required to repurchase or make an offer to repurchase the Notes upon the occurrence of the Effective Date of a Fundamental
Change if a third party makes such an offer in the same manner, at the same time and otherwise is in compliance with the requirements
for an offer made by the Company as set forth in the Indenture, and such third party purchases all Notes properly surrendered and
not validly withdrawn under its offer in the same manner, at the same time and otherwise is in compliance with the requirements
for an offer made by the Company as set forth in the Indenture.

 

At the Company’s written request,
the Trustee shall give such notice in the Company’s name and at the Company’s expense; provided, however,
that, in all cases, the text of such Fundamental Change Company Notice shall be prepared by the Company.

 

(d)          Notwithstanding
the foregoing, no Notes may be repurchased by the Company on any date at the option of the Holders upon a Fundamental Change if
the Principal Amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to such date
(except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Repurchase
Price with respect to such Notes). The Paying Agent will promptly return to the respective Holders thereof any Physical Notes held
by it during the acceleration of the Notes (except in the case of an acceleration resulting from a Default by the Company in the
payment of the Fundamental Change Repurchase Price with respect to such Notes), or, with respect to any Global Notes, in compliance
with the Applicable Procedures of the Depositary any election by Holders with respect to such Notes shall be deemed to have been
cancelled, and, upon such return or cancellation, as the case may be, the Fundamental Change Repurchase Notice with respect thereto
shall be deemed to have been withdrawn.

 

Section 10.02      Withdrawal
of Fundamental Change Repurchase Notice.

 

A Fundamental Change
Repurchase Notice may be withdrawn (in whole or in part), with respect to any Physical Notes, by means of a written notice of withdrawal
delivered to the Corporate Trust Office of the Paying Agent in accordance with this Section 10.02 at any time prior to the close
of business on the second Business Day immediately preceding the Fundamental Change Repurchase Date specifying:

 

(i)           the
Principal Amount of the Notes with respect to which such notice of withdrawal is being submitted, which must be $1,000 or an integral
multiple thereof, 

 

(ii)          the
certificate number of the Note in respect of which such notice of withdrawal is being submitted, and 

 

(iii)         the
Principal Amount, if any, of such Note that remains subject to the original Fundamental Change Repurchase Notice, which portion
must be in Principal Amounts of $1,000 or an integral multiple of $1,000; 

 

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provided, however, that if
the Notes are Global Notes, Holders must withdraw the relevant Fundamental Change Repurchase Notice in accordance with the Applicable
Procedures of the Depositary.

 

Section 10.03      Deposit
of Fundamental Change Repurchase Price.

 

(a)          The
Company will deposit with the Trustee (or other paying agent appointed by the Company, or if the Company is acting as its own paying
agent, set aside, segregate and hold in trust) on or prior to 11:00 a.m., New York City time, on the Business Day prior to the
Fundamental Change Repurchase Date an amount of money sufficient to repurchase all of the Notes to be repurchased at the appropriate
Fundamental Change Repurchase Price. Subject to receipt of funds and/or Notes by the Trustee (or other paying agent appointed by
the Company), payment for Notes surrendered for repurchase (and not withdrawn prior to the close of business on the second Business
Day immediately preceding the Fundamental Change Repurchase Date) will be made on the later of (i) with respect to Global
Notes, the Fundamental Change Repurchase Date (provided that the Holder has satisfied the conditions in Section 10.01) pursuant
to the Applicable Procedures of the Depositary, and (ii) with respect to Physical Notes, the time of book-entry transfer or
the delivery of such Note to the Trustee (or other paying agent appointed by the Company) by the Holder thereof in the manner required
by Section 10.01 by mailing checks for the amount payable to the Holders of such Notes entitled thereto as they shall appear in
the Note Register. The Trustee shall, promptly after such payment and upon written demand by the Company, return to the Company
any funds in excess of the Fundamental Change Repurchase Price. 

 

(b)          If
by 11:00 a.m. New York City time, on the Business Day prior to the Fundamental Change Repurchase Date, the Trustee (or other
paying agent appointed by the Company) holds money sufficient to make payment on all the Notes or portions thereof that are to
be repurchased on such Fundamental Change Repurchase Date, then, on the Fundamental Change Repurchase Date, with respect to the
Notes that have been properly surrendered for repurchase and have not been validly withdrawn, (i) such Notes will cease to
be outstanding, (ii) interest will cease to accrue on such Notes (whether or not book-entry transfer of the Notes has been
made or the Notes have been delivered to the Trustee or paying agent) and (iii) all other rights of the Holders of such Notes
will terminate (other than the right to receive the Fundamental Change Repurchase Price and, if the Fundamental Change Repurchase
Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date relates,
accrued and unpaid interest payable to the Holders as of such Regular Record Date). 

 

(c)          Upon
surrender of a Note that is to be repurchased in part pursuant to Section 10.01, the Company shall execute and the Trustee shall
authenticate and deliver to the Holder a new Note in an authorized denomination equal in Principal Amount to the unrepurchased
portion of the Note surrendered.

 

Section 10.04      Covenant
to Comply with Applicable Laws Upon Repurchase of Notes.

 

 In connection with any repurchase
offer pursuant to a Fundamental Change Repurchase Notice, the Company will, if required:

 

(a)           comply
with tender offer rules under the Exchange Act that may then be applicable;

 

(b)           file
a Schedule TO or any other required schedule under the Exchange Act; and

 

(c)           otherwise
comply in all material respects with all federal and state securities laws in connection with any offer by the Company to repurchase
the Notes;

 

 in each case, so as to permit the
rights and obligations under this ARTICLE 10 to be exercised in the time and in the manner specified in this ARTICLE 10.

 

To the extent that
the provisions of any securities law or regulations conflict with the provisions of the Indenture relating to the Company’s
obligation to repurchase the Notes upon the occurrence of a Fundamental Change, the Company will comply with the applicable securities
laws and regulations and will not be deemed to have breached the Company’s obligations under such provisions of the Indenture
by virtue of such conflict.

 

    -64- 

     

    

 

ARTICLE
11.

COVENANT DEFEASANCE

 

Section 4.3 through Section 4.9 of the
Base Indenture are hereby replaced in full, solely with respect to the Notes, with the following:

 

Section 11.01     Option
to Effect Covenant Defeasance.

 

The Company may, at
the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, at any time, elect
to have Section 11.02 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this ARTICLE
11.

 

Section 11.02      Covenant
Defeasance.

 

Upon the Company’s
exercise under Section 11.01 hereof of the option applicable to this Section 11.02, the Company shall, subject to the satisfaction
of the conditions set forth in Section 11.03 hereof, be released from its obligations under the covenants contained in Section
5.07, Section 5.08, Section 5.09, Section 5.10, Section 5.11, Section 5.12, Section 5.13, Section 5.16, Section 5.17, Section 5.19
and Section 6.01 and ARTICLE 10 hereof with respect to the outstanding Notes on and after the date the conditions set forth in
Section 11.03 are satisfied (hereinafter, “Covenant Defeasance”), and the Notes shall thereafter be deemed not
“outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences
of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all other purposes
hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes). For this purpose, Covenant
Defeasance means that, with respect to the outstanding Notes, the Company may omit to comply with and shall have no liability in
respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference
elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any
other document and such omission to comply shall not constitute a Default or an Event of Default under Section 7.01 hereof, but,
except as specified above, the remainder of the Indenture and such Notes shall be unaffected thereby. In addition, upon the Company’s
exercise under Section 11.01 hereof of the option applicable to this Section 11.02 hereof, subject to the satisfaction of the conditions
set forth in Section 11.03 hereof, Section 7.01(c) through Section 7.01(i) shall not constitute an Event of Default.

 

Section 11.03     Conditions
to Covenant Defeasance.

 

The following shall
be the conditions to the application of Section 11.02 hereof to the outstanding Notes:

 

(a)          the
Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in United States dollars, non-callable
Government Securities, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized
investment bank, appraisal firm or firm of independent public accountants, to pay the principal of, premium, if any, and interest
on the outstanding Notes, including the maximum amount potentially payable as of the date of such deposit as any Interest Make-Whole
Payment or any Qualifying Fundamental Change Payment, on the stated dates for payment thereof;

 

(b)          the
Company shall have delivered to the Trustee an Opinion of Counsel in the United States reasonably acceptable to the Trustee confirming
that the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of
such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times
as would have been the case if such Covenant Defeasance had not occurred;

 

(c)          no
Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or Event of
Default resulting from the incurrence of Indebtedness all or a portion of the proceeds of which will be used to defease the Notes
pursuant to this ARTICLE 11 concurrently with such incurrence);

 

    -65- 

     

    

 

(d)          such
Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any material agreement or instrument
(other than the Indenture) to which the Company is a party or by which the Company is bound;

 

(e)          the
Company shall have delivered to the Trustee an Opinion of Counsel (which may be subject to customary exceptions) to the effect
that on the 91st day following the deposit, the trust funds will not be subject to the effect of any applicable bankruptcy, insolvency,
reorganization or similar laws affecting creditors’ rights generally;

 

(f)          the
Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company
with the intent of preferring the Holders over any other creditors of the Company or with the intent of defeating, hindering, delaying
or defrauding any other creditors of the Company; and

 

(g)          the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent provided for or relating to the Covenant Defeasance have been complied with.

 

Section 11.04      Deposited
Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions.

 

Subject to Section
11.05 hereof, all money and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or
other qualifying trustee, collectively for purposes of this Section 11.04, the “Trustee”) pursuant to Section
11.03 hereof in respect of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the provisions
of such Notes and the Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying
Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal,
premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law.

 

The Company shall pay
and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government
Securities deposited pursuant to Section 11.03 hereof or the principal and interest received in respect thereof other than any
such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes.

 

Anything in this ARTICLE
11 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon the request of the Company
any money or non-callable Government Securities held by it as provided in Section 11.03 hereof which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which
may be the opinion delivered under Section 11.03(a) hereof), are in excess of the amount thereof that would then be required to
be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

 

Section 11.05      Repayment
to Company.

 

Any money deposited
with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium, if any,
or interest on any Note and remaining unclaimed for two years after such principal, and premium, if any, or interest has become
due and payable shall be paid to the Company on its request or (if then held by the Company) shall be discharged from such trust;
and the Holder of such Note shall thereafter look only to the Company for payment thereof, and all liability of the Trustee or
such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.

 

    -66- 

     

    

 

ARTICLE
12.

AMENDMENT, SUPPLEMENT AND WAIVER

 

Article VIII of the Base Indenture
is hereby replaced in full, solely with respect to the Notes, with the following:

 

Section 12.01      Without
Consent of Holders of Notes.

 

Notwithstanding Section
12.02 of this First Supplemental Indenture, the Company and the Trustee may amend or supplement the Indenture or the Notes, without
the consent of any Holder of a Note:

 

(a)          to
cure any ambiguity, defect or inconsistency; provided, however, that such cure does not, in the good faith opinion of the Board
of Directors, adversely affect the interests of the Holders in any material respect;

 

(b)          to
provide for uncertificated Notes in addition to or in place of certificated Notes or to alter the provisions of ARTICLE 2 hereof
(including the related definitions) in a manner that does not materially adversely affect any Holder;

 

(c)          to
provide for the assumption of the Company’s obligations to the Holders of the Notes under the Indenture and the Notes by
a successor to the Company pursuant to ARTICLE 6 of this First Supplemental Indenture;

 

(d)          to
make any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely affect
the legal rights hereunder or under, the Notes of any Holder of the Note; or

 

(e)          to
comply with requirements of the SEC in order to effect or maintain the qualification of the Indenture under the TIA.

 

In determining whether
the Holders of the requisite Principal Amount of outstanding Notes are present at a meeting of Holders of Notes for quorum purposes
or have consented to or voted in favor of any request, demand, authorization, direction, notice, consent, waiver, amendment or
modification hereunder, Notes held for the account of the Company, or for any Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company, shall be disregarded and deemed not to be outstanding; provided,
however, that no Holder shall be deemed to be directly or indirectly controlling or controlled by or under direct or indirect common
control with the Company solely by reason of ownership of such Notes. A change in a defined term used in this Section shall be
deemed to be a change to this Section.

 

Upon the request of
the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental
Indenture, and upon receipt by the Trustee of the documents described in Section 12.06 hereof, the Trustee shall join with the
Company in the execution of any amended or supplemental Indenture authorized or permitted by the terms of the Indenture and to
make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated
to enter into such amended or supplemental Indenture that affects its own rights, duties or immunities under the Indenture or otherwise.

 

Section 12.02     With
Consent of Holders of Notes.

 

Except as provided
below in this Section 12.02, the Company and the Trustee may amend or supplement the Indenture (including, without limitation,
Section 5.10 and ARTICLE 10 of this First Supplemental Indenture) and the Notes with the consent of the Majority Holders voting
as a single class (including consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes),
and, subject to Section 7.04 and Section 7.07 hereof, any existing Default or Event of Default (other than a Default or Event of
Default in the payment of the Principal of, premium, if any, Interest or any other amounts due on the Notes, except a payment default
resulting from an acceleration that has been rescinded pursuant to Section 7.02) or compliance with any provision of the Indenture
and the Notes may be waived with the consent of the Majority Holders voting as a single class (including consents obtained in connection
with a tender offer or exchange offer for, or purchase of, the Notes).

 

    -67- 

     

    

 

After an amendment,
supplement or waiver under this Section becomes effective, the Company shall deliver to the Holders of Notes affected thereby a
notice briefly describing the amendment, supplement or waiver. Any failure of the Company to send such notice, or any defect therein,
shall not, however, in any way impair or affect the validity of any such amended or supplemental Indenture, Notes or waiver. Notwithstanding
anything in the Indenture to the contrary, without the consent of each Holder affected, an amendment or waiver under this Section
12.02 may not (with respect to any Notes held by a non-consenting Holder):

 

(a)          reduce
the Principal Amount of Notes whose Holders must consent to an amendment, supplement or waiver;

 

(b)          reduce
the Principal of, Redemption Price of, Interest, premium, or any other amounts due hereunder or change the fixed maturity of any
Note or alter or waive any of the provisions with respect to the redemption of the Notes except as provided above with respect
to Section 5.10 and ARTICLE 10 hereof;

 

(c)          reduce
the rate of or change the time for payment of Interest on any Note;

 

(d)          waive
a Default or Event of Default in the payment of Principal of or premium, if any, Interest or any other amounts due on the Notes
(except a rescission of acceleration of the Notes by the Majority Holders and a waiver of the payment default that resulted from
such acceleration pursuant to Section 7.02);

 

(e)          make
any Note payable in money or currency other than that stated in the Notes;

 

(f)          make
any change in the provisions of the Indenture relating to waivers of past Defaults or the rights of Holders of Notes to receive
payments of Principal or Interest or premium, if any, or any other amounts due on the Notes;

 

(g)          make
any change in Section 7.04 or Section 7.07 hereof or in the amendment and waiver provisions of Section 12.01 or this Section 12.02;

 

(h)          impair
the right to institute suit for the enforcement of any payment on or with respect to, or conversion of, any Note;

 

(i)           modify
the Company’s obligation to purchase Notes at the option of Holders or the Company’s right to redeem the Notes, in
a manner adverse to the Holders;

 

(j)          make
any change that adversely affects the repurchase option of Holders upon a Fundamental Change;

 

(k)          reduce
the percentage in aggregate Principal Amount of Notes outstanding necessary to modify or amend the Indenture or to waive any past
default;

 

(l)          modify
any provision of the Indenture or the Notes requiring notice to the Trustee in any manner adverse to Holders;

 

(m)          reduce
the quorum or voting requirements under the Indenture;

 

(n)          modify
in any manner the calculation of the Interest Make-Whole Payment or Qualifying Fundamental Change Payment; or

 

(o)          change
the ranking of the Notes in a manner adverse to the Holders; or

 

    -68- 

     

    

 

(p)          adversely
affect the conversion rights of the Holders of the Notes set forth in ARTICLE 10 hereof.

 

Upon the request of
the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental
Indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders holding the
applicable percentage of Notes as aforesaid, and upon receipt by the Trustee, as applicable, of the documents described in Section
12.06 hereof, the Trustee shall join with the Company in the execution of such amended or supplemental Indenture, or the Notes
unless such amended or supplemental Indenture directly affects the Trustee’s own rights, duties or immunities under the Indenture
or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such amended or supplemental
Indenture.

 

It shall not be necessary
for the consent of the Holders of Notes under this Section 12.02 to approve the particular form of any proposed amendment or waiver,
but it shall be sufficient if such consent approves the substance thereof.

 

Section 12.03     Compliance
with Trust Indenture Act.

 

Every amendment or
supplement to the Indenture or the Notes shall be set forth in an amended or supplemental Indenture that complies with the TIA
as then in effect.

 

Section 12.04      Revocation
and Effect of Consents.

 

Until an amendment,
supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a Note and
every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even
if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note may revoke
the consent as to its Note if the Trustee or the relevant agent receives written notice of revocation before the date the waiver,
supplement or amendment becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and
thereafter binds every Holder.

 

Section 12.05      Notation
on or Exchange of Notes.

 

The Trustee may place
an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company in exchange
for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the
amendment, supplement or waiver.

 

Failure to make the
appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver.

 

Section 12.06      Trustee
to Sign Amendments, etc.

 

The Trustee shall sign
any amended or supplemental Indenture or Note authorized pursuant to this ARTICLE 12 if the amendment or supplement does not adversely
affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amendment or supplemental Indenture
until the Board of Directors approves it. In executing any amended or supplemental indenture, the Trustee shall be entitled to
receive and (with respect to the Trustee, subject to Section 8.01 hereof) shall be fully protected in relying upon, in addition
to the documents required by Section 17.06 and Section 17.07, an Officer’s Certificate and an Opinion of Counsel stating
that the execution of such amended or supplemental Indenture or Note, as applicable, is authorized or permitted by the Indenture
and that such amended or supplemental Indenture or Note, as applicable, is the legal, valid and binding obligation of the Company
enforceable against it in accordance with its terms, subject to customary exceptions, and complies with the provisions of the Indenture
or the Note, as applicable.

 

    -69- 

     

    

 

ARTICLE
13.

[INTENTIONALLY OMITTED]

 

ARTICLE
14.

[INTENTIONALLY OMITTED]

 

ARTICLE
15.

SATISFACTION AND DISCHARGE

 

Section 4.1 through Section 4.2 of the
Base Indenture are hereby replaced in full, solely with respect to the Notes, with the following:

 

Section 15.01      Satisfaction
and Discharge.

 

The Indenture will
be discharged and will cease to be of further effect (except as to any surviving rights of registration of transfer or exchange
of Notes herein expressly provided for) as to all Notes issued hereunder, when:

 

(i)            either:

 

(1)          all
Notes that have been authenticated (except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose
payment money has theretofore been deposited in trust and thereafter repaid to the Company) have been delivered to the Trustee
for cancellation; or

 

(2)          all
Notes that have not been delivered to the Trustee for cancellation have become due and payable and the Company has irrevocably
deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S.
dollars, non-callable Government Securities, or a combination thereof, and/or (in the case of conversion) shares of Common Stock
in such amounts as will be sufficient without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness
on the Notes not delivered to the Trustee for cancellation for Principal, premium, if any, and accrued Interest to the Stated Maturity;

 

(ii)           the
Company has paid or caused to be paid all other sums payable by it under the Transaction Documents;

 

(iii)          the
Company has delivered irrevocable instructions to the Trustee under the Indenture to apply the deposited money toward the payment
of the Notes at maturity; and

 

(iv)          the
Company has delivered an Officers’ Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent
to satisfaction and discharge have been satisfied.

 

Notwithstanding the
satisfaction and discharge of the Indenture, the obligations of the Company to the Trustee under Section 8.07 hereof and, if money
shall have been deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section, the provisions of Section 15.02
and Section 11.05 shall survive.

 

Section 15.02      Application
of Trust Money.

 

Subject to the provisions
of Section 11.05, all money deposited with the Trustee pursuant to Section 15.01 shall be held in trust and applied by it, in accordance
with the provisions of the Notes and the Indenture, to the payment, either directly or through any Paying Agent (including the
Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the Principal (and premium,
if any) and Interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from
other funds except to the extent required by law.

 

If the Trustee or Paying
Agent is unable to apply any money or Government Securities in accordance with Section 15.01 by reason of any legal proceeding
or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, the Company’s obligations under the Indenture and the Notes shall be revived and reinstated as though no deposit
had occurred pursuant to Section 15.01; provided that if the Company has made any payment of Principal of, premium, if any, or
Interest on any Notes because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders
of such Notes to receive such payment from the money or Government Securities held by the Trustee or Paying Agent.

 

    -70- 

     

    

 

ARTICLE
16.

MATURITY DATE, INTEREST, AND INTEREST RATE

 

Section 16.01      Maturity.

 

(a)          The
Company promises to pay an amount in cash representing the outstanding Principal Amount of the Notes plus accrued and unpaid Interest
and any other amounts due on the Stated Maturity.

 

Section 16.02     Interest
and Interest Rate. The following provision replaces Section 3.7 of the Base Indenture with respect to the Notes.

 

(a)          The
Notes shall accrue interest at the Interest Rate per annum. Interest on the Notes shall be payable quarterly in arrears on each
Interest Payment Date to Holders of record on the Regular Record Date immediately preceding such Interest Payment Date. Interest
will be computed on the basis of a 360-day year comprised of twelve 30-day months and, for partial months, on the basis of the
number of days actually elapsed in a 30-day month. Interest on the Notes shall accrue from the most recent date to which Interest
has been paid, or if no Interest has been paid, from the Issue Date, until the Principal Amount or Redemption Price, if applicable,
is paid or duly made available for payment.

 

(b)          If
prior to any Interest Payment Date, any Special Interest has accrued pursuant to Section 7.03 hereof, and not theretofore been
paid in full, any such Special Interest shall be due and payable on such Interest Payment Date, and shall be included in Interest
payable on such Interest Payment Date and shall be paid in the manner provided for herein for the payment of Interest (unless otherwise
specified in the applicable Transaction Document).

 

(c)          Interest
shall be payable on each Interest Payment Date, to each Holder on the applicable Interest Payment Date in cash (“Cash
Interest”).

 

(d)          Cash
Interest on any Note that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to
the Holder of such Note on the Regular Record Date for such Interest at the office or agency of the Company maintained for such
purpose. Each installment of Cash Interest on any Physical Note shall be made by check mailed to the address of the Holder specified
in the Securities Register; provided, however, that, in respect of any Holder of Physical Notes with an aggregate Principal Amount
in excess of $2,000,000, at the request of such Holder in writing to the Company, Cash Interest on such Holder’s Notes shall
be paid by wire transfer in immediately available funds to such Holder’s account within the United States in accordance with
the written wire transfer instruction supplied by such Holder from time to time to the Trustee and Paying Agent (if different from
the Trustee) at least ten days prior to the applicable Interest Payment Date. In the case of a permanent Global Note, Cash Interest
payable on any Interest Payment Date will be paid to the Depositary pursuant to the Applicable Procedures.

 

    -71- 

     

    

 

ARTICLE
17.

MISCELLANEOUS

 

Article I of the Base Indenture
is hereby supplemented, with respect to the Notes, to add or, if indicated, replace the following covenants:

 

Section 17.01      [Intentionally
Omitted].

 

Section 17.02      Notices.
The following provision replaces Section 1.5 and Section 1.6 of the Base Indenture with respect to the Notes:

 

Any notice or communication
by the Company or the Trustee to the others is duly given if in writing and delivered in Person or mailed by first class mail (registered
or certified, return receipt requested), telecopier or overnight air courier guaranteeing next day delivery, to the others’
address:

 

If to the Company:

 

Akoustis Technologies,
Inc.

9805 Northcross Center
Court

Suite A

Huntersville, NC 28078

Tel: (704)-997-5735

Email: dwright@akoustis.com

Attention: General
Counsel

 

With a copy (which
shall not constitute notice) to:

 

K&L Gates LLP

214 North Tryon Street

47th Floor

Charlotte, NC 28202

Tel: (704) 331-7406

Email: sean.jones@klgates.com

Attention: Sean Jones,
Esq.

 

If to the Trustee:

 

The Bank of New York
Mellon Trust Company, N.A.

10161 Centurion Parkway
N.

Jacksonville, Florida
32256

Email: Kandy.Williams@bnymellon.com

Fax: (904) 645-1921

Attention: Corporate
Trust Administration

 

The Company or the
Trustee, by notice to the other, may designate additional or different addresses for subsequent notices or communications.

 

All notices and communications
(other than those sent to Holders) shall be deemed to have been duly given: at the time delivered by hand, if personally delivered;
five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if telecopied; and
the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery.

 

Any notice or communication
to a Holder with respect to Global Notes, delivered in accordance with the Applicable Procedures of the Depositary and, with respect
to Physical Notes, shall be mailed by first class mail, certified or registered, return receipt requested, or by overnight air
courier guaranteeing next day delivery to its address shown on the register kept by the Registrar.

 

If a notice or communication
is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it.

 

If the Company delivers
a notice or communication to Holders, it shall send a copy to the Trustee and each Agent at the same time.

 

    -72- 

     

    

 

The Trustee agrees to accept and act upon
instructions or directions pursuant to the Indenture sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured
electronic methods; provided, however, that the Trustee shall have received an incumbency certificate listing persons designated
to give such instructions or directions and containing specimen signatures of such designated persons, which such incumbency certificate
shall be amended and replaced whenever a person is to be added or deleted from the listing. If the Company elects to give the Trustee
e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act
upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not
be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance
with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The
Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the
Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk of interception
and misuse by third parties.

 

Section 17.03      Communication
by Holders of Notes with Other Holders of Notes.

 

Holders may communicate
pursuant to TIA § 312(b) with other Holders with respect to their rights under the Indenture or the Notes. The Company, the
Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c).

 

Section 17.04     Legal
Holidays. The following provision replaces Section 1.13 of the Base Indenture with respect to the Notes:

 

In any case where any
payment date described in the Indenture is not a Business Day, then any action to be taken on such date need not be taken on such
date, but may be taken on the next succeeding Business Day with the same force and effect as if taken on such date, and no interest
shall accrue in respect of the delay.

 

Section 17.05      Calculations.

 

Except as otherwise
provided herein, the Company shall be responsible for making all calculations called for under the Indenture and the Notes. Neither
the Trustee, acting in any capacity under the Indenture, nor the Conversion Agent shall have any liability or responsibility for
any such calculations or information underlying such calculations, of for monitoring the price of the Common Stock. The Company
shall make all calculations in good faith and, absent manifest error, the Company’s calculations shall be final and binding
on Holders of Notes. The Company shall provide a schedule of its calculations to each of the Trustee and the Conversion Agent,
and each of the Trustee and Conversion Agent is entitled to rely conclusively upon the accuracy of the Company’s calculations
without independent verification. The Trustee shall forward the Company’s calculations to any Holder of Notes upon the written
request of that Holder at the sole cost and expense of the Company.

 

Section 17.06      Certificate
and Opinion as to Conditions Precedent. The following provision replaces Section 1.2 of the Base Indenture with respect to the
Notes:

 

Upon any request or
application by the Company to the Trustee to take any action under the Indenture or the Notes, the Company shall furnish to the
Trustee:

 

(a)          an
Officers’ Certificate in form and substance reasonably satisfactory to the Trustee (which shall include the statements set
forth in Section 17.07 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided
for in the Indenture and the Notes relating to the proposed action have been satisfied; and

 

(b)          an
Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in
Section 17.07 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants provided for in
the Indenture and the Notes relating to the proposed action have been satisfied.

 

    -73- 

     

    

 

Section 17.07      Statements
Required in Certificate or Opinion.

 

Each certificate or
opinion with respect to compliance with a condition or covenant provided for in the Indenture (other than a certificate provided
pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include:

 

(a)          a
statement that the Person making such certificate or opinion has read such covenant or condition;

 

(b)          a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based;

 

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

 

(d)          a
statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied.

 

Section 17.08      Rules
by Trustee and Agents.

 

The Trustee may make
reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable
requirements for its functions.

 

Section 17.09      [Intentionally
Omitted].

 

Section 17.10      [Intentionally
Omitted].

 

Section 17.11      [Intentionally
Omitted].

 

Section 17.12      [Intentionally
Omitted].

 

Section 17.13      [Intentionally
Omitted].

 

Section 17.14      Successors.

 

All agreements of the
Company in the Indenture and the Notes shall bind its successors. All agreements of the Trustee in the Indenture shall bind its
successors.

 

Section 17.15      [Intentionally
Omitted].

 

Section 17.16      Counterpart
Originals.

 

The parties may sign
any number of copies of this First Supplemental Indenture. Each signed copy shall be an original, but all of them together represent
the same agreement.

 

Section 17.17      Table
of Contents, Headings, etc.

 

The Table of Contents,
Cross-Reference Table and Headings of the Articles and Sections of this First Supplemental Indenture have been inserted for convenience
of reference only, are not to be considered a part of this First Supplemental Indenture and shall in no way modify or restrict
any of the terms or provisions hereof.

 

    -74- 

     

    

 

Section 17.18      Force
Majeure.

 

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

 

Section 17.19      Foreign
Account Tax Compliance Act (FATCA).

 

In order to comply with applicable tax laws,
rules and regulations (inclusive of directives, guidelines and interpretations promulgated by competent authorities) in effect
from time to time (“Applicable Law”), the Company agrees (i) to use commercially reasonable efforts to provide
to the Trustee, upon request, such information as it has in its possession about Holders and other applicable parties and/or transactions
(including any modification to the terms of such transactions), so that the Trustee can determine whether it has tax related obligations
under Applicable Law and (ii) that the Trustee shall be entitled to make any withholding or deduction from payments under the Indenture
to the extent necessary to comply with Applicable Law, for which the Trustee shall not have any liability. The terms of this section
shall survive the termination of the Indenture.

 

[Signatures on following page]

 

    -75- 

     

    

 

Dated as of October 23, 2018

 

	 	AKOUSTIS TECHNOLOGIES, INC.
	 	 
	 	By:	/s/ John T. Kurtzweil	 
	 	 	Name: John T. Kurtzweil
	 	 	Title:  Chief Financial Officer
	 	 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee 
	 	 
	 	By:	/s/ R. Tarnas	 
	 	 	Name: R. Tarnas
	 	 	Title: Vice President

 

[Signature Page to First Supplemental Indenture]

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