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  Exhibit 4.4
  Trustee-DBR comments 2-21-13    
    

 

THE SPECTRANETICS CORPORATION  

 TO  

 WELLS FARGO BANK, NATIONAL ASSOCIATION,
  Trustee

 

INDENTURE  

Dated as of                        , 201   

 

  

 

  

 

 
 

  THE SPECTRANETICS CORPORATION    
    
    Reconciliation and tie between Trust Indenture Act of 1939 and
  Indenture, dated as
of                        , 201     
    

 

			
	Trust Indenture Act Section

 
	 	Indenture Section 
	 §310(a)(1)
	 	609
	 (a)(2)
	 	609
	 (a)(3)
	 	Not Applicable
	 (a)(4)
	 	Not Applicable
	 (a)(5)
	 	609
	 (b)
	 	608, 610
	 (c)
	 	Not Applicable
	 §311(a)
	 	613
	 (b)
	 	613
	 §312(a)
	 	701, 702(a)
	 (b)
	 	702(b)
	 (c)
	 	702(c)
	 §313(a)
	 	703(a)
	 (b)
	 	703(a)
	 (c)
	 	703(a)
	 (d)
	 	703(b)
	 §314(a)
	 	704, 1008
	 (b)
	 	Not Applicable
	 (c)(1)
	 	102
	 (c)(2)
	 	102
	 (c)(3)
	 	Not Applicable
	 (d)
	 	Not Applicable
	 (e)
	 	102
	 §315(a)
	 	601
	 (b)
	 	602
	 (c)
	 	601
	 (d)
	 	601
	 (e)
	 	514
	 §316(a)
	 	101
	 (a)(1)(A)
	 	104(g), 502, 512
	 (a)(1)(B)
	 	104(g), 513
	 (a)(2)
	 	Not Applicable
	 (b)
	 	508
	 (c)
	 	104(g)
	 §317(a)(1)
	 	503
	 (a)(2)
	 	504
	 (b)
	 	1003
	 §318(a)
	 	107
	 (c)
	 	107

 

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

 

 

 
 

  TABLE OF CONTENTS    
    

 

							
	 
	 	 
	 	Page 	 
	  Parties
	 	 	1	 
	  Recitals
	 	 	1	 
	  ARTICLE ONE
	 
	  Definitions and Other Provisions of General Application
	 
	 Section 101.
	 	 Definitions
	 	 	

1	 
	 
	 	 Act
	 	 	1	 
	 
	 	 Affiliate
	 	 	1	 
	 
	 	 Authenticating Agent
	 	 	2	 
	 
	 	 Authorized Newspaper
	 	 	2	 
	 
	 	 Board of Directors
	 	 	2	 
	 
	 	 Board Resolution
	 	 	2	 
	 
	 	 Business Day
	 	 	2	 
	 
	 	 Clearstream
	 	 	2	 
	 
	 	 Commission
	 	 	2	 
	 
	 	 Company
	 	 	2	 
	 
	 	 Company Request
	 	 	2	 
	 
	 	 Corporate Trust Office
	 	 	2	 
	 
	 	 Corporation
	 	 	3	 
	 
	 	 Debt Securities
	 	 	3	 
	 
	 	 Defaulted Interest
	 	 	3	 
	 
	 	 Depositary
	 	 	3	 
	 
	 	 Dollar
	 	 	3	 
	 
	 	 Euroclear
	 	 	3	 
	 
	 	 Event of Default
	 	 	3	 
	 
	 	 GAAP
	 	 	3	 
	 
	 	 Global Security
	 	 	3	 
	 
	 	 Government Obligations
	 	 	3	 
	 
	 	 Holder
	 	 	3	 
	 
	 	 Indebtedness
	 	 	3	 
	 
	 	 Indenture
	 	 	3	 
	 
	 	 Interest
	 	 	4	 
	 
	 	 Interest Payment Date
	 	 	4	 
	 
	 	 Maturity
	 	 	4	 
	 
	 	 Mortgage
	 	 	4	 
	 
	 	 Officers' Certificate
	 	 	4	 
	 
	 	 Opinion of Counsel
	 	 	4	 
	 
	 	 Original Issue Discount Security
	 	 	4	 
	 
	 	 Outstanding
	 	 	4	 
	 
	 	 Paying Agent
	 	 	5	 
	 
	 	 Person
	 	 	5	 
	 
	 	 Place of Payment
	 	 	5	 
	 
	 	 Predecessor Security
	 	 	5	 
	 
	 	 Preferred Stock
	 	 	5	 
	 
	 	 Redemption Date
	 	 	5	 
	 
	 	 Redemption Price
	 	 	5	 
	 
	 	 Registered Security
	 	 	5	 
	 
	 	 Regular Record Date
	 	 	5	 
	 
	 	 Remarketing Entity
	 	 	5	 
	 
	 	 Repayment Date
	 	 	5	 

 

 

 
 

							
	 
	 	 
	 	Page 	 
	 
	 	 Repayment Price
	 	 	5	 
	 
	 	 Responsible Officer
	 	 	5	 
	 
	 	 Security Register
	 	 	5	 
	 
	 	 Special Record Date
	 	 	5	 
	 
	 	 Stated Maturity
	 	 	6	 
	 
	 	 Subsidiary
	 	 	6	 
	 
	 	 Trust Indenture Act
	 	 	6	 
	 
	 	 Trustee
	 	 	6	 
	 
	 	 United States
	 	 	6	 
	 
	 	 United States Alien
	 	 	6	 
	 
	 	 Voting Stock
	 	 	6	 
	 Section 102.
	 	 Compliance Certificates and Opinions
	 	 	

6	 
	 Section 103.
	 	 Form of Documents Delivered to Trustee
	 	 	

7	 
	 Section 104.
	 	 Acts of Holders
	 	 	

7	 
	 Section 105.
	 	 Notices, etc., to Trustee and Company
	 	 	

9	 
	 Section 106.
	 	 Notice to Holders; Waiver
	 	 	

9	 
	 Section 107.
	 	 Conflict with Trust Indenture Act
	 	 	

10	 
	 Section 108.
	 	 Effect of Headings and Table of Contents
	 	 	

10	 
	 Section 109.
	 	 Successors and Assigns
	 	 	

10	 
	 Section 110.
	 	 Separability Clause
	 	 	

10	 
	 Section 111.
	 	 Benefits of Indenture
	 	 	

10	 
	 Section 112.
	 	 Governing Law
	 	 	

10	 
	 Section 113.
	 	 Legal Holidays
	 	 	

10	 
	 Section 114.
	 	 Exemption from Individual Liability
	 	 	

10	 
	 Section 115.
	 	 Counterparts
	 	 	

11	 
	  ARTICLE TWO
	 
	  Debt Security Forms
	 
	 Section 201.
	 	 Forms Generally
	 	 	

11	 
	 Section 202.
	 	 Form of Trustee's Certificate of Authentication
	 	 	

12	 
	 Section 203.
	 	 Debt Securities in Global Form
	 	 	

12	 
	  ARTICLE THREE
	 
	  The Debt Securities
	 
	 Section 301.
	 	 Amount Unlimited; Issuance in Series
	 	 	

12	 
	 Section 302.
	 	 Denominations
	 	 	

14	 
	 Section 303.
	 	 Execution, Authentication, Delivery and Dating
	 	 	

14	 
	 Section 304.
	 	 Temporary Debt Securities
	 	 	

16	 
	 Section 305.
	 	 Registration; Registration of Transfer and Exchange
	 	 	

17	 

 

 ii

 
 

							
	 
	 	 
	 	Page 	 
	 Section 306.
	 	 Mutilated, Destroyed, Lost and Stolen Debt Securities
	 	 	18	 
	 Section 307.
	 	 Payment of Interest; Interest Rights Preserved
	 	 	

19	 
	 Section 308.
	 	 Persons Deemed Owners
	 	 	

20	 
	 Section 309.
	 	 Cancellation
	 	 	

21	 
	 Section 310.
	 	 Computation of Interest
	 	 	

21	 
	 Section 311.
	 	 CUSIP Numbers
	 	 	

21	 
	  ARTICLE FOUR
	 
	  Satisfaction and Discharge
	 
	 Section 401.
	 	 Satisfaction and Discharge of Indenture
	 	 	

21	 
	 Section 402.
	 	 Application of Trust Money and Government Obligations
	 	 	

22	 
	 Section 403.
	 	 Satisfaction, Discharge and Defeasance of Debt Securities of any Series
	 	 	

23	 
	  ARTICLE FIVE
	 
	  Events of Default and Remedies
	 
	 Section 501.
	 	 Events of Default
	 	 	

24	 
	 Section 502.
	 	 Acceleration of Maturity; Rescission and Annulment
	 	 	

25	 
	 Section 503.
	 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	

26	 
	 Section 504.
	 	 Trustee May File Proofs of Claim
	 	 	

27	 
	 Section 505.
	 	 Trustee May Enforce Claims without Possession of Debt Securities
	 	 	

27	 
	 Section 506.
	 	 Application of Money Collected
	 	 	

28	 
	 Section 507.
	 	 Limitation on Suits
	 	 	

28	 
	 Section 508.
	 	 Unconditional Right of Holders to Receive Principal, Premium and Interest
	 	 	

28	 
	 Section 509.
	 	 Restoration of Rights and Remedies
	 	 	

29	 
	 Section 510.
	 	 Rights and Remedies Cumulative
	 	 	

29	 
	 Section 511.
	 	 Delay or Omission Not Waiver
	 	 	

29	 
	 Section 512.
	 	 Control by Holders of Debt Securities
	 	 	

29	 
	 Section 513.
	 	 Waiver of Past Defaults
	 	 	

29	 
	 Section 514.
	 	 Undertaking for Costs
	 	 	

30	 
	 Section 515.
	 	 Waiver of Stay or Extension Laws
	 	 	

30	 
	  ARTICLE SIX
	 
	  The Trustee
	 
	 Section 601.
	 	 Certain Duties and Responsibilities
	 	 	

30	 
	 Section 602.
	 	 Notice of Default
	 	 	

31	 
	 Section 603.
	 	 Certain Rights of Trustee
	 	 	

31	 

 

 iii

 
 

							
	 
	 	 
	 	Page 	 
	 Section 604.
	 	 Not Responsible for Recitals or Issuance of Debt Securities
	 	 	33	 
	 Section 605.
	 	 May Hold Debt Securities
	 	 	

33	 
	 Section 606.
	 	 Money Held in Trust
	 	 	

33	 
	 Section 607.
	 	 Compensation and Reimbursement
	 	 	

33	 
	 Section 608.
	 	 Disqualification; Conflicting Interests
	 	 	

34	 
	 Section 609.
	 	 Corporate Trustee Required; Eligibility
	 	 	

34	 
	 Section 610.
	 	 Resignation and Removal; Appointment of Successor
	 	 	

34	 
	 Section 611.
	 	 Acceptance of Appointment by Successor
	 	 	

36	 
	 Section 612.
	 	 Merger, Conversion, Consolidation or Succession to Business
	 	 	

37	 
	 Section 613.
	 	 Preferential Collection of Claims Against Company
	 	 	

37	 
	 Section 614.
	 	 Authenticating Agent
	 	 	

37	 
	  ARTICLE SEVEN
	 
	  Holders' Lists and Reports By Trustee and Company
	 
	 Section 701.
	 	 Company to Furnish Trustee Names and Addresses of Holders
	 	 	

38	 
	 Section 702.
	 	 Preservation of Information; Communications to Holders
	 	 	

38	 
	 Section 703.
	 	 Reports by Trustee
	 	 	

39	 
	 Section 704.
	 	 Reports by Company
	 	 	

39	 
	  ARTICLE EIGHT
	 
	  Consolidation, Merger, Conveyance, Transfer or Lease
	 
	 Section 801.
	 	 Company May Consolidate, etc. Only on Certain Terms
	 	 	

39	 
	 Section 802.
	 	 Successor Corporation Substituted
	 	 	

40	 
	  ARTICLE NINE
	 
	  Supplemental Indentures
	 
	 Section 901.
	 	 Supplemental Indentures without Consent of Holders
	 	 	

40	 
	 Section 902.
	 	 Supplemental Indentures with Consent of Holders
	 	 	

41	 
	 Section 903.
	 	 Execution of Supplemental Indentures
	 	 	

42	 
	 Section 904.
	 	 Effect of Supplemental Indentures
	 	 	

42	 
	 Section 905.
	 	 Conformity with Trust Indenture Act
	 	 	

42	 
	 Section 906.
	 	 Reference in Debt Securities to Supplemental Indentures
	 	 	

42	 
	  ARTICLE TEN
	 
	  Covenants
	 
	 Section 1001.
	 	 Payment of Principal, Premium and Interest
	 	 	

43	 
	 Section 1002.
	 	 Maintenance of Office or Agency
	 	 	

43	 

 

 iv

 
 

							
	 
	 	 
	 	Page 	 
	 Section 1003.
	 	 Money for Debt Securities Payments to Be Held in Trust
	 	 	43	 
	 Section 1004.
	 	 Corporate Existence
	 	 	

44	 
	 Section 1005.
	 	 Maintenance of Properties
	 	 	

45	 
	 Section 1006.
	 	 Payment of Additional Amounts
	 	 	

45	 
	 Section 1007.
	 	 Payment of Taxes and Other Claims
	 	 	

45	 
	 Section 1008.
	 	 Officer's Certificate as to Default
	 	 	

46	 
	 Section 1009.
	 	 Waiver of Certain Covenants
	 	 	

46	 
	  ARTICLE ELEVEN
	 
	  Redemption of Debt Securities
	 
	 Section 1101.
	 	 Applicability of Article
	 	 	

46	 
	 Section 1102.
	 	 Election to Redeem; Notice to Trustee
	 	 	

46	 
	 Section 1103.
	 	 Selection by Trustee of Debt Securities to be Redeemed
	 	 	

46	 
	 Section 1104.
	 	 Notice of Redemption
	 	 	

47	 
	 Section 1105.
	 	 Deposit of Redemption Price
	 	 	

47	 
	 Section 1106.
	 	 Debt Securities Payable on Redemption Date
	 	 	

48	 
	 Section 1107.
	 	 Debt Securities Redeemed in Part
	 	 	

48	 
	  ARTICLE TWELVE
	 
	  Sinking Funds
	 
	 Section 1201.
	 	 Applicability of Article
	 	 	

48	 
	 Section 1202.
	 	 Satisfaction of Sinking Fund Payments with Debt Securities
	 	 	

48	 
	 Section 1203.
	 	 Redemption of Debt Securities for Sinking Fund
	 	 	

49	 
	  ARTICLE THIRTEEN
	 
	  Repayment at the Option of Holders
	 
	 Section 1301.
	 	 Applicability of Article
	 	 	

49	 
	 Section 1302.
	 	 Repayment of Debt Securities
	 	 	

49	 
	 Section 1303.
	 	 Exercise of Option; Notice
	 	 	

49	 
	 Section 1304.
	 	 Election of Repayment by Remarketing Entities
	 	 	

50	 
	 Section 1305.
	 	 Securities Payable on the Repayment Date
	 	 	

50	 
	  ARTICLE FOURTEEN
	 
	  Defeasance
	 
	 Section 1401.
	 	 Termination of Company's Obligations
	 	 	

50	 
	 Section 1402.
	 	 Repayment to Company
	 	 	

51	 
	 Section 1403.
	 	 Indemnity for Government Obligations
	 	 	

51	 

 

 v

 

        INDENTURE
(the "Indenture") dated as of                    , between THE SPECTRANETICS CORPORATION, a Delaware corporation (hereinafter called the "Company"),
having its principal place of
business at 9965 Federal Drive, Colorado Springs, Colorado 80921, and WELLS FARGO BANK, NATIONAL ASSOCIATION, (hereinafter called the "Trustee"), having a Corporate Trust Office at 230 West Monroe
Street, Suite 2900, Chicago, Illinois 60606. 

 
 

  RECITALS OF THE COMPANY    
    

        The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its
debentures, notes, bonds and other evidences of indebtedness (herein called the "Debt Securities"). 

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

        NOW,
THEREFORE, THIS INDENTURE WITNESSETH: 

        For
and in consideration of the premises and the purchase of the Debt Securities of any series created and issued on or after the date hereof by the Holders thereof, it is mutually
covenanted and agreed, for the benefit of each other and for the benefit of all Holders of such Debt Securities or of any such series, as follows: 

 
 

  ARTICLE ONE
  
    Definitions and Other Provisions
  of General Application    
    

        Section 101.    Definitions.    

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

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

        (2)   all
other terms used herein which are defined in the Trust Indenture Act or by Commission rule or regulation under the Trust Indenture Act, either directly or by
reference therein, as in force at the date as of which this instrument was executed, except as provided in Section 905, have the meanings assigned to them therein; 

        (3)   all
accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP; 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. 

        Certain
terms, used principally in Article Six, are defined in that Article. 

        "Act"
when used with respect to any Holder has the meaning specified in Section 104. 

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

        "Agent"
means any Security Registrar, Paying Agent, or Depositary Custodian. 

        "Applicable
Procedures" means, with respect to any payment, tender, redemption, transfer or exchange of or for beneficial interests in any Global Security, the rules and procedures of
the 

 

Depositary,
Euroclear and Clearstream that apply to such payment, tender, redemption, transfer or exchange. 

        "Authenticating
Agent" means any Person authorized by the Trustee to act on behalf of the Trustee to authenticate Debt Securities. 

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

        "Board
of Directors" means either the board of directors of the Company, or the executive or any other committee of that board duly authorized to act in respect hereof. 

        "Board
Resolution" means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full
force and effect
on the date of such certification, and delivered to the Trustee. Where any provision of this Indenture refers to action to be taken pursuant to a Board Resolution (including the establishment of any
series of the Debt Securities and the forms and terms thereof), such action may be taken by any committee of the Board of the Company or any officer or employee of the Company authorized to take such
action by a Board Resolution. 

        "Business
Day," when used with respect to any Place of Payment, means any day which is not a Saturday or Sunday and which is not a legal holiday or a day on which the Trustee or banking
institutions or trust companies in that Place of Payment are authorized or obligated by law or executive order to close. 

        "Clearstream"
means Clearstream Banking S.A. 

        "Commission"
means the Securities and Exchange Commission, as from time to time constituted, created under the Securities Exchange Act of 1934, or if at any time after the execution of
this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties on such date. 

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

        "Company
Request" and "Company Order" mean, respectively, except as otherwise provided in this Indenture, a written request or order signed in the name of the Company by the Chairman of
the Board, a Vice Chairman of the Board, the President or a Vice President (any references to a Vice President of the Company herein shall be deemed to include any Vice President of the Company
whether or not designated by a number or word or words added before or after the title "Vice President"), the Treasurer, an Assistant Treasurer, the Controller, an Assistant Controller, the Secretary
or an Assistant Secretary of the Company or by another officer of the Company duly authorized to sign by a Board Resolution, and delivered to the Trustee. 

        "Corporate
Trust Office" means the corporate trust office of the Trustee at which at any particular time its corporate trust business in respect of this Indenture shall be administered,
which office at the date of original execution of this Indenture is located at 230 West Monroe Street, Suite 2900, Chicago, Illinois 60606, and with respect to Agent services such office shall
also mean the office or agency of the Trustee located at 608 Second Avenue South, N9303-121, Minneapolis, MN 55479, Attn: Corporate Trust Operations, or such other address as to which the
Trustee may give notice to the Company. 

2

 

        The
term "corporation" includes corporations, associations, companies and business trusts. 

        "Debt
Securities" has the meaning stated in the first recital of this Indenture and more particularly means any Debt Securities authenticated and delivered under this Indenture. 

        "Defaulted
Interest" has the meaning specified in Section 307. 

        "Depositary"
means, with respect to the Debt Securities of any series issuable or issued in the form of a Global Security, the Person designated as Depositary by the Company pursuant to
Section 301 until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture, and thereafter "Depositary" shall mean or include each person who is
then a Depositary hereunder, and if at any time there is more than one such Person, "Depositary" as used with respect to the Debt Securities of any such series shall mean the Depositary with respect
to the Debt Securities of that series. 

        "Depositary
Custodian" means the Trustee as custodian with respect to any Global Securities or any successor entity thereto. 

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

        "Euroclear"
means Morgan Guaranty Trust Company of New York, Brussels Office, as operator of the Euroclear System. 

        "Event
of Default" has the meaning specified in Section 501. 

        "Expiration
Date" has the meaning specified in Section 106. 

        "GAAP"
means, as of the date of any determination with respect thereto, generally accepted accounting principles as used by the Financial Accounting Standards Board and/or the American
Institute of Certified Public Accountants, consistently applied and maintained throughout the periods indicated. 

        "Global
Security" means a Debt Security issued to evidence all or part of a series of Debt Securities in accordance with Section 303. 

        "Government
Obligations" means direct obligations of the United States of America, and obligations guaranteed as to full and timely payment for which the United States of America pledges
its full faith and credit. 

        "Holder,"
with respect to a Registered Security, means a Person in whose name such Registered Security is registered in the Security Register. 

        "Indebtedness"
means (i) all items of indebtedness or liability (except capital and surplus) which in accordance with GAAP would be included in determining total liabilities as
shown on the liability side of a balance sheet as at the date as of which indebtedness is to be determined, (ii) indebtedness secured by any Mortgage existing on property owned subject to such
Mortgage, whether or not the indebtedness secured thereby shall have been assumed, and (iii) guarantees, endorsements (other than for purposes of collection) and other contingent obligations in
respect of, or to purchase or otherwise acquire, indebtedness of others, unless the amount thereof is included in indebtedness under the preceding clause (i) or (ii);  provided, however, that any
obligations or guarantees of obligations in respect of lease rentals, whether or not such obligations or guarantees of
obligations would be included as liabilities on a consolidated balance sheet of the Company and its Subsidiaries, shall not be included in Indebtedness. 

        "Indenture"
means this instrument as originally executed or as it may from time to time be supplemented, amended or restated by or pursuant to one or more indentures supplemental hereto
entered into pursuant to the applicable provisions hereof and, unless the context otherwise requires, 

3

 

shall
include the terms of a particular series of Debt Securities established as contemplated by Section 301. 

        "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," with respect to any Debt Security, means the Stated Maturity of an installment of interest on such Debt Security. 

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

        "Mortgage"
means and includes any mortgage, pledge, lien, security interest, conditional sale or other title retention agreement or other similar encumbrance. 

        "Officers'
Certificate" means a certificate signed by the Chairman of the Board, a Vice Chairman of the Board, the President or a Vice President, and by the Treasurer, an Assistant
Treasurer, the Controller, an Assistant Controller, the Secretary or an Assistant Secretary of the Company, and delivered to the Trustee. 

        "Opinion
of Counsel" means a written opinion of counsel, who may (except as otherwise expressly provided in this Indenture) be an employee of or counsel for the Company, or who may be
other counsel acceptable to the Trustee, which is delivered to the Trustee. 

        "Original
Issue Discount Security" means any Debt Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of
the Maturity thereof pursuant to Section 502. 

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

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

         (ii)  Debt
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 Debt
Securities; provided, however,
that if such Debt Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; and 

        (iii)  Debt
Securities in exchange for or in lieu of which other Debt Securities have been authenticated and delivered, or which have been paid, pursuant to this Indenture; 

provided, however, that in determining whether the Holders of the requisite principal amount of Debt Securities Outstanding have given any request,
demand, authorization, direction, notice, consent or waiver hereunder, Debt Securities owned by the Company or any other obligor upon the Debt Securities or any Affiliate of the Company or of such
other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon such request, demand, authorization, direction,
notice, consent or waiver, only Debt Securities which the Trustee knows to be so owned shall be so disregarded. Debt 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 Debt Securities and that the 

4

 

pledgee
is not the Company or any other obligor upon the Debt 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 (and premium, if any) or interest on any Debt Securities on behalf of the Company. 

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

        "Place
of Payment," when used with respect to the Debt Securities of any series means any place where the principal of (and premium, if any) and interest on the Debt Securities of that
series are payable as specified as contemplated by Section 301. 

        "Predecessor
Security" of any particular Debt Security means every previous Debt Security evidencing all or a portion of the same debt as that evidenced by such particular Debt Security;
and, for the purposes of this definition, any Debt Security authenticated and delivered under Section 306 in lieu of a
lost, destroyed or stolen Debt Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Debt Security. 

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

        "Redemption
Date," when used with respect to any Debt 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 Debt Security to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 

        "Registered
Security" means any Debt Security in the form of Registered Securities established pursuant to Section 201 which is registered in the Security Register. 

        "Regular
Record Date" for the interest payable on any Interest Payment Date on the Registered Securities of any series means the date specified for that purpose as contemplated by
Section 301. 

        "Remarketing
Entity," when used with respect to Debt Securities of any series which are repayable at the option of the Holders thereof before their Stated Maturity, means any person
designated by the Company to purchase any such Debt Securities. 

        "Repayment
Date," when used with respect to any Debt Security to be repaid upon exercise of an option for repayment by the Holder, means the date fixed for such repayment pursuant to
this Indenture. 

        "Repayment
Price," when used with respect to any Debt Security to be repaid upon exercise of an option for repayment by the Holder, means the price at which it is to be repaid pursuant
to this Indenture. 

        "Responsible
Officer" when used with respect to the Trustee, means any officer of the Trustee with direct responsibility for the administration of this Indenture and also means, with
respect to a particular corporate trust matter, any other officer of the Trustee to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject. 

        "Security
Register" and "Security Registrar" have the respective meanings specified in Section 305. 

        "Special
Record Date" for the payment of any Defaulted Interest means a date fixed by the Company pursuant to Section 307. 

5

 

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

        "Subsidiary"
means any Person more than 50% of the outstanding shares of Voting Stock, except for directors' qualifying shares, of which shall at the time be owned, directly or
indirectly, by the Company or by one or more of the Subsidiaries, or by the Company and one or more other Subsidiaries. 

        "Trust
Indenture Act" means the Trust Indenture Act of 1939 as in force at the date as of which this instrument was executed, and, to the extent required by law, as amended, except as
provided in Section 905. 

        "Trustee"
means the Person named as the "Trustee" in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter "Trustee" shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, "Trustee" as used with respect to the Debt
Securities of any series shall mean the Trustee with respect to Debt Securities of that series. 

        "United
States" means the United States of America (including the District of Columbia) and its possessions. 

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

        "Voting
Stock," as applied to the stock (or the equivalent thereof) of any Person, means stock (or the equivalent thereof) of any class or classes, however designated, entitled in the
ordinary course to vote in an election of directors of such Person, other than stock (or such equivalent) having such power only by reason of the happening of a contingency. 

        Section 102.    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 Officers' 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 such 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 shall include: 

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

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

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

6

 

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

        Section 103.    Form of Documents Delivered to Trustee.    

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

        Any
certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless
such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his or her certificate or opinion is
based is erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers
of the Company stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that
the certificate or opinions or representations with respect to such matters is 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 104.    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 an agent duly appointed in writing. Except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments or record or both are delivered to the Trustee, and, where it is hereby expressly required, to the Company. Such instrument or
instruments and any such record (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the "Act" of the Holders signing such instrument or instruments and so
voting at any such meeting. Proof of execution of any such instrument or of a writing appointing any such agent, or the holding by any Person of a Debt Security, shall be sufficient for any purpose of
this Indenture and (subject to Section 601) 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 in any manner which the Trustee deems sufficient. 

        (c)   The
ownership of Registered Securities shall be proved by the Security Register. 

        (d)   The
fact and date of execution of any such instrument or writing may also be proved in any other manner which the Trustee deems sufficient; and the Trustee may in any
instance require further proof with respect to any of the matters referred to in this Section. 

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

7

 

        (f)    For
purposes of determining the principal amount of Outstanding Debt Securities of any series the Holders of which are required, requested or permitted to give any
request, demand, authorization, direction, notice, consent, waiver or take any other Act under this Indenture, each Original Issue Discount Security shall be deemed to have the principal amount
determined by the Trustee that could be declared to be due and payable pursuant to the terms of such Original Issue Discount Security as of the date there is delivered to the Trustee and, where it is
hereby expressly required, to the Company, by Holders of the required aggregate principal amount of the Outstanding Debt Securities of such series. 

        (g)   The
Company may set any day as a record date for the purpose of determining the Holders of Outstanding Debt Securities of any series entitled to give, make or take any
request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of Debt Securities of such series,  provided that the Company may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of
any notice, declaration, request or direction referred to in the next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Debt Securities of the relevant series
on such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders after such record date;  provided that no such action shall be
effective hereunder unless taken on or prior to the applicable Expiration Date (as defined below) by Holders of
the requisite principal amount of Outstanding Debt Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for
any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of
no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Debt Securities of the
relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the
proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Debt Securities of the relevant series in the manner set forth in
Section 106. 

        The
Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding Debt Securities of any series entitled to join in the giving or making of
(i) any notice of an Event of Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to institute proceedings referred to in
Section 507(2), or (iv) any direction referred to in Section 512, in each case with respect to Debt Securities of such series. If any record date is set pursuant to this
paragraph, the Holders of Outstanding Debt Securities of such series on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction, whether or
not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder unless taken on or prior to the
applicable Expiration Date by Holders of the requisite principal amount of Outstanding Debt Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the
Trustee from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with
no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of
Outstanding Debt Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company's expense, shall
cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company in writing and to each Holder of Debt Securities of the relevant series
in the manner set forth in Section 106. 

8

 

        With
respect to any record date set pursuant to this Section, the party hereto which sets such record dates may designate any day as the "Expiration Date" and from time to time may
change the Expiration Date to any earlier or later day; provided that no such change shall be effective unless notice of the proposed new Expiration
Date is given to the other party hereto in writing, and to each Holder of Debt Securities of the relevant series in the manner set forth in Section 106, on or prior to the existing Expiration
Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section, the party hereto which set such record date shall be deemed to have initially designated the
180th day after such record date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. 

        Section 105.    Notices, etc., to Trustee and Company.    

        Any
request, demand, authorization, direction, notice, consent, waiver or other Act of Holders or other document provided or permitted by this Indenture to be made upon, given or
furnished to, or filed with, 

        (1)   the
Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided), if in writing and sent by
certified mail or by courier to the Trustee at its Corporate Trust Office, or 

        (2)   the
Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and sent by
certified mail or by courier to the Company addressed to the attention of its Secretary at the address of its principal office specified in the first paragraph of this instrument or at any other
address previously furnished in writing to the Trustee by the Company. 

        Section 106.    Notice to Holders; Waiver.    

        Except
as otherwise expressly provided herein, where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given to Holders of Registered
Securities if in writing and mailed, first-class postage prepaid, to each Holder of a Registered Security affected by such event, at such Holder's address as it appears in the Security Register, not
later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. Notwithstanding any other provision of this Indenture or any Security, where this
Indenture or any Security provides for notice of any event (including any notice of redemption or repurchase) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be
sufficiently given if given to the Depositary (or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance with Applicable
Procedures. 

        In
case, by reason of the suspension of or irregularities in regular mail service or for any other reason, it shall be impossible or impracticable to mail notice of any event to Holders
of Registered Securities when said notice is required to be given pursuant to any provision of this Indenture or of the Debt Securities, then any manner of giving such notice as shall be satisfactory
to the Trustee shall be deemed to be a sufficient giving of such notice. In any case where notice to Holders of Registered Securities is to be given by mail, neither the failure to mail such notice,
nor any defect in any notice so mailed, to any particular Holder of a Registered Security shall affect the sufficiency of such notice with respect to other Holders of Registered Securities given as
provided above. 

        Where
this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders 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. 

9

 

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

        Section 107.    Conflict with Trust Indenture Act.    

        If
any provision hereof limits, qualifies or conflicts with another provision hereof which is required to be included in this Indenture by any of the provisions of the Trust Indenture
Act, such required provision shall control. 

        Section 108.    Effect of Headings and Table of Contents.    

        The
Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

        Section 109.    Successors and Assigns.    

        All
covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 

        Section 110.    Separability Clause.    

        In
case any provision in this Indenture or in the Debt 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 111.    Benefits of Indenture.    

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

        Section 112.    Governing Law; Jury Trial Waiver.    

        This
Indenture and the Debt Securities shall be governed by and construed in accordance with the laws of the State of New York. 

        EACH
OF THE COMPANY, THE TRUSTEE, AND BY AQCUISITION THEREOF ANY HOLDER OF THE SECURITIES HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT
TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

        Section 113.    Legal Holidays.    

        In
any case where any Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity of any Debt Security shall not be a Business Day at any Place of Payment, then
(notwithstanding any other provision of this Indenture or of the Debt Securities) payment of interest or principal (and premium, if any) need not be made at such Place of Payment on such date, but may
be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date, Redemption Date, Repayment Date or at the Stated Maturity,
and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity, as the case may be. 

        Section 114.    Exemption from Individual Liability.    

        No
recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Debt Security, or for any claim based thereon or otherwise in respect thereof, shall be had
against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or of 

10

 

any
successor corporation, either directly or through the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it
being expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations of the Company, and that no such personal liability whatever shall attach to, or is
or shall be incurred by, the incorporators, shareholders, officers or directors, as such, of the Company or of any successor corporation, or any of them, because of the creation of the indebtedness
hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Debt Securities or implied therefrom; and that any and all such
personal liability, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, shareholder, officer or director, as
such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Debt Securities or
implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of such Debt Securities. 

        Section 115.    Counterparts.    

        This
Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and
the same Indenture. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the
parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for
all purposes. 

        Section 116.    U.S.A. Patriot Act.    

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

 
 

  ARTICLE TWO
  
    Debt Security Forms    
    

        Section 201.    Forms Generally.    

        The
Registered Securities of each series shall be in substantially the form (including temporary or permanent global form) as shall be established in or pursuant to a Board Resolution or
in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have
such letters, numbers or other marks of identification and such legends or endorsements placed thereon, as may be required to comply with the rules of any securities exchange, or as may, consistently
herewith, be determined by the officers executing such Debt Securities, as evidenced by their signatures on the Debt Securities. If the form of Debt Securities of any series (including any such Global
Security) is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and
delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for the authentication and delivery of such Debt Securities. 

11

 

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

        Section 202.    Form of Trustee's Certificate of
Authentication.    

        The
Trustee's certificate of authentication on all Debt Securities shall be in substantially the following form: 

        This
is one of the Debt Securities, of the series designated herein, described in the within-mentioned Indenture. 

 

			
	 	 	

  
	 	 	as Trustee

 

 

					
	

 	
 	
By	
 	

 Authorized Officer

 

         Section 203.    Debt Securities in Global Form.    

        If
Debt Securities of a series are issuable in whole or in part in global form, as specified as contemplated by Section 301, then such Global Security shall represent such of the
outstanding Debt Securities of such series as shall be specified therein and may provide that it shall represent the aggregate amount of Outstanding Debt Securities from time to time endorsed thereon
and that the aggregate amount of Outstanding Debt Securities represented thereby may from time to time be reduced to reflect exchanges. Any endorsement of a Global Security to reflect the amount, or
any increase or decrease in the amount, of Outstanding Debt Securities represented thereby shall be made in such manner and upon instructions given by such Person or Persons as shall be specified
therein or in the Company Order to be delivered to the Trustee pursuant to Section 303 or Section 304. 

        The
provisions of the last sentence of Section 303(g) shall apply to any Debt Securities represented by a Debt Security in global form if such Debt Security was never issued and
sold by the Company and the Company delivers to the Trustee the Debt Security in global form together with written instructions (which need not comply with Section 102 and need not be
accompanied by an Opinion of Counsel) with respect to the reduction in the principal amount of Debt Securities represented thereby, together with the written statement contemplated by the last
sentence of Section 303(g). 

 
 

  ARTICLE THREE
  
    The Debt Securities    
    

        Section 301.    Amount Unlimited; Issuance in Series.    

        The
aggregate principal amount of Debt Securities that may be authenticated and delivered under this Indenture is unlimited. 

        The
Debt Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution, and set forth in an Officers' Certificate, or established in one
or more indentures supplemental hereto, prior to the issuance of Debt Securities of any series: 

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

        (2)   the
price or prices (expressed as a percentage of the principal amount thereof) at which the Debt Securities of the series may be issued; 

        (3)   the
ranking of such Debt Securities; 

12

 

        (4)   the
limit, if any, upon the aggregate principal amount of the Debt Securities of the series which may be authenticated and delivered under this Indenture (except for
Debt Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Debt Securities of the series pursuant to Section 304, 305, 306, 906, 1107
or 1303 and except for any Debt Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder); 

        (5)   the
date or dates on which the principal, and interest and premium, if any, of the Debt Securities of the series are payable; 

        (6)   the
rate or rates, if any, at which the Debt Securities of the series shall bear interest, or the method or methods by which such rate or rates may be determined, the
date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest shall be payable, the Regular Record Date for the interest payable on any Registered Security on
any Interest Payment Date and the circumstances, if any, in which the Company may defer interest payments; 

        (7)   the
place or places where, subject to the provisions of Section 1002, the principal of (and premium, if any) and interest on Debt Securities of the series shall
be payable (each of the foregoing, a "Place of Payment"), any Registered Securities of the series may be surrendered for registration of transfer, Debt Securities of the series may be surrendered for
exchange and notices and demands to or upon the Company in respect of the Debt Securities of the series and this Indenture may be served and where notices to Holders pursuant to Section 106
will be published; 

        (8)   if
applicable, the period or periods within which or the date or dates on which, the price or prices at which and the terms and conditions upon which Debt Securities of
the series may be redeemed, in whole or in part, at the option of the Company; 

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

        (10) whether
the Debt Securities of the series shall be issued in whole or in part in the form of a Global Security or Securities and, in such case, the Depositary for such
Global Security or Securities; 

        (11) whether,
and under what conditions, additional amounts will be payable to Holders of Debt Securities of the series pursuant to Section 1006; 

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

        (13) if
other than the principal amount thereof, the portion of the principal amount of Debt Securities of the series which shall be payable upon declaration of acceleration
of the Maturity thereof pursuant to Section 502; 

        (14) if
the amount of payments of principal of (and premium, if any) or interest on the Debt Securities of the series may be determined with reference to an index, the
manner in which such amounts shall be determined; 

        (15) if
the Debt Securities of the series are convertible or exchangeable into common stock or preferred stock, the conversion price or exchange ratio therefor, the period
during which such Debt Securities are convertible or exchangeable and any terms and conditions for the conversion or exchange of such Debt Securities; 

13

 

        (16) any
Events of Default with respect to Debt Securities of such series, if not set forth herein; 

        (17) any
other covenant or warranty included for the benefit of the Debt Securities of the series in addition to (and not inconsistent with) those set forth herein for the
benefit of Debt Securities of all series, or any other covenant or warranty included for the benefit of Debt Securities of the series in lieu of any covenant or warranty set forth herein for the
benefit of Debt Securities of all series, or any provision that any covenant or warranty set forth herein for the benefit of Debt Securities of all series shall not be for the benefit of Debt
Securities of such series, or any combination of such covenants, warranties or provisions; 

        (18) the
terms and conditions, if any, pursuant to which the Company's obligations under this Indenture may be terminated through the deposit of money or Government
Obligations as provided in Section 403 and Article Fifteen; 

        (19) the
Person or Persons who shall be Security Registrar for the Debt Securities of such series if other than the Trustee, and the place or places where the Security
Register for such series shall be maintained and the Person or Persons who will be the initial Paying Agent or Agents, if other than the Trustee; and 

        (20) any
other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture). 

        All
Debt Securities of any one series shall be substantially identical except, in the case of Registered Securities, as to denomination and except as may otherwise be provided in or
pursuant to such Board Resolution and set forth in such Officers' Certificate or in any such indenture supplemental hereto. 

        Debt
Securities of any particular series may be issued at various times, with different dates on which the principal or any installment of principal is payable, with different rates of
interest, if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable and with different Redemption or Repayment Dates and may
be denominated in different currencies or payable in different currencies. 

        If
any of the terms of a series of Debt Securities are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by
the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers' Certificate setting forth the terms of the series. 

        Section 302.    Denominations.    

        Debt
Securities of each series shall be issuable in such form and denominations as shall be specified in the form of Debt Security for such series approved or established pursuant to
Section 201 or in the Officers' Certificate delivered pursuant to Section 301. In the absence of any specification with respect to the Debt Securities of any series, the Registered
Securities of such series, if any, shall be issuable in denominations of $1,000 and any integral multiple thereof. 

        Section 303.    Execution, Authentication, Delivery and
Dating.    

        (a)   The
Debt Securities shall be executed on behalf of the Company by its Chairman of the Board, a Vice Chairman of the Board, the President or a Vice President. The
signature of any of these officers on the Debt Securities may be manual or facsimile. 

        Debt
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 Debt Securities of any series or did not hold such offices at the date of such Debt
Securities. 

14

 

        (b)   At
any time and from time to time after the execution and delivery of this Indenture, Debt Securities of any series may be executed by the Company and delivered to the
Trustee for authentication, and, except as otherwise provided in this Article Three, shall thereupon be authenticated and delivered by the Trustee upon Company Order, without any further action by the
Company. 

        To
the extent authorized in or pursuant to a Board Resolution and set forth in an Officers' Certificate, or established in one or more indentures supplemental hereto, such written
Company Order may be given by any one officer or employee of the Company, may be electronically transmitted, and may
provide instructions as to registration of holders, principal amounts, rates of interest, maturity dates and other matters contemplated by such Board Resolution and Officers' Certificate or
supplemental indenture to be so instructed in respect thereof. Before authorizing and delivering the first Debt Securities of any series (and upon request of the Trustee thereafter), the Company shall
deliver to the Trustee (i) the certificates called for under Sections 201 and 301 hereof and (ii) an Opinion of Counsel described in the next sentence. 

        In
authenticating such Debt Securities, and accepting the additional responsibilities under this Indenture in relation to any such Debt Securities, the Trustee shall be entitled to
receive, prior to the initial authentication of such Debt Securities, and (subject to Section 601) shall be fully protected in relying upon: 

          (i)  a
Board Resolution relating thereto and, if applicable, an appropriate record of any action taken pursuant to such resolution certified by the Secretary or an Assistant
Secretary of the Company; 

         (ii)  an
executed supplemental indenture, if any, relating thereto; 

        (iii)  an
Officers' Certificate setting forth the form and terms of the Debt Securities of such series, pursuant to Sections 201 and 301 and stating that all
conditions precedent provided for in this Indenture relating to the issuance of such Debt Securities have been complied with; and 

        (iv)  an
Opinion of Counsel stating 

        (A)  that
the form of such Debt Securities has been established in or pursuant to a Board Resolution or by a supplemental indenture as permitted by Section 201 in
conformity with the provisions of this Indenture; 

        (B)  that
the terms of such Debt Securities have been established in or pursuant to a Board Resolution or by a supplemental indenture as permitted by Section 301 in
conformity with the provisions of this Indenture; 

        (C)  that
this Indenture and such Debt Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute valid and binding obligations of the Company, enforceable in accordance with their terms, subject, as to enforcement of remedies, to applicable
bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors' rights generally and the application of general principles of equity; and 

        (D)  that
all laws and requirements in respect of the execution and delivery by the Company as applicable, of such Debt Securities and of the supplemental indenture, if any,
have been complied with, and that authentication and delivery of such Debt Securities and the execution and delivery of the supplemental indenture, if any, by the Trustee will not violate the terms of
the Indenture. 

        (c)   If
the Company shall establish pursuant to Section 301 that the Debt Securities of a series are to be issued in whole or in part in the form of one or more Global
Securities, then the 

15

 

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 Global Securities in permanent or
temporary form that (i) shall represent and shall be denominated in an aggregate amount equal to the aggregate principal amount of the Outstanding Debt Securities of such series to be
represented by one or more Global Securities, (ii) shall be registered in the name of the Depositary for such Global Security or Securities or the nominee of such Depositary and
(iii) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary's instructions. 

        (d)   The
Trustee shall have the right to decline to authenticate and deliver any Debt Securities under this Section 303 if the issuance of such Debt Securities will
adversely affect the Trustee's own rights, duties or immunities under the Debt Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee. 

        (e)   If
all the Debt Securities of any series are not to be issued at one time, it shall not be necessary to deliver an Opinion of Counsel at the time of issuance of each
Debt Security, but such Opinion of Counsel, with appropriate modifications, may instead be delivered at or prior to the time of the first issuance of Debt Securities of such series. 

        (f)    Each
Registered Security shall be dated the date of its authentication. 

        (g)   No
Debt Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Debt Security a
certificate of authentication substantially in the form provided for herein executed by the Trustee, and such certificate upon any Debt Security shall
be conclusive evidence, and the only evidence, that such Debt Security has been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Debt Security or portion thereof shall
have been duly authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Debt Security to the Trustee for cancellation as provided in
Section 309 together with a written statement (which need not comply with Section 102 and need not be accompanied by an Opinion of Counsel) stating that such Debt Security or portion
thereof has never been issued and sold by the Company, for all purposes of this Indenture such Debt Security shall be deemed never to have been authenticated and delivered hereunder and shall never be
entitled to the benefits of this Indenture. 

        (h)   Each
Depositary designated pursuant to Section 301 for a Global Security in registered form must, at the time of its designation and at all times while it serves
as Depositary, be a clearing agency registered under the Securities Exchange Act of 1934 and any other applicable statute or regulation. 

        Section 304.    Temporary Debt Securities.    

        Until
definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially in the
form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall, subject to Applicable Procedures,
prepare and the Trustee shall authenticate definitive Securities and deliver them in exchange for temporary Securities of the same Series upon surrender of such temporary Securities at the office or
agency of the Company, without charge to the Holder. 

16

 

        Section 305.    Registration; Registration of Transfer and
Exchange.    

        The
Company shall cause to be kept at one of the offices or agencies to be maintained by the Company in accordance with the provisions of this Section 305 and Section 1002,
with respect to the Debt Securities of each series which are Registered Securities, a register (herein sometimes referred to as the "Security Register") in which, subject to such reasonable
regulations as it may prescribe, the Company shall provide for the registration of Registered Securities and of transfers of Registered Securities. Pursuant to Section 301, the Company shall
appoint, with respect to Debt Securities of each series which are Registered Securities, a "Security Registrar" for the purpose of registering such Debt Securities and transfers and exchanges of such
Debt Securities as herein provided. 

        Upon
surrender for registration of transfer of any Registered Security of any series at the office or agency of the Company maintained for such purpose, 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 denomination or
denominations, of like tenor and terms and aggregate principal amount. 

        At
the option of the Holder, Registered Securities of any series may be exchanged for other Registered Securities of the same series of any authorized form and denomination, of like
tenor and terms and aggregate principal amount, upon surrender of the Registered Securities to be exchanged at such office or agency. 

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

        If
at any time the Depositary for the Debt Securities of a series notifies the Company that it is unwilling or unable to continue as Depositary for the Debt Securities of such series or
if at any time the Depositary for the Debt Securities of such series shall no longer be eligible under Section 303(h), the Company shall appoint a successor Depositary with respect to the Debt
Securities of such series. If a successor Depositary for the Debt 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 301(10) shall no longer be effective with respect to the Debt Securities of such series and the Company will execute, and
the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Debt Securities of such series, will authenticate and deliver, Debt Securities of such series in
definitive form in an aggregate principal amount equal to the principal amount of the Global Security or Securities representing such series in exchange for such Global Security or Securities. 

        The
Company may at any time and in its sole discretion determine that the Debt Securities of any series issued in the form of one or more Global Securities shall no longer be represented
by such Global Security or Securities. In such event the Company will execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Debt Securities of
such series, will authenticate and deliver, Debt Securities of such series in definitive form and in an aggregate principal amount equal to the principal amount of the Global Security or Securities
representing such series in exchange for such Global Security or Securities. 

        If
specified by the Company pursuant to Section 301 with respect to a series of Debt Securities, the Depositary for such series of Debt Securities may surrender a Global Security
for such series of Debt Securities in exchange in whole or in part for Debt Securities of such series of like tenor and terms and in definitive form on such terms as are acceptable to the Company and
such Depositary. Thereupon, the Company shall execute, and the Trustee shall authenticate and deliver, without charge to any Holder, 

17

 

        (a)   to
each Person specified by such Depositary a new Debt Security or Securities of the same series, of like tenor and terms and of any authorized denominations as
requested by such person in aggregate principal amount equal to and in exchange for such Person's beneficial interest in the Global Security; and 

        (b)   to
such Depositary a new Global Security of like tenor and terms and in a denomination equal to the difference, if any, between the principal amount of the surrendered
Global Security and the aggregate principal amount of Debt Securities delivered to Holders thereof. 

        In
any exchange provided for in any of the preceding three paragraphs, the Company will execute and the Trustee will authenticate and deliver Debt Securities in definitive registered
form in authorized denominations, if the Debt Securities of such series are issuable as Registered Securities. 

        Upon
the exchange of a Global Security for Debt Securities in definitive form, such Global Security shall be cancelled by the Trustee. Registered Securities issued in exchange for a
Global Security pursuant to this Section shall be registered in such names and in such authorized denominations as the Depositary for such Global Security, pursuant to instructions from its direct or
indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Registered Securities to the persons in whose names such Debt Securities are so registered. 

        All
Debt Securities issued upon any registration of transfer or exchange of Debt Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to the
same benefits under this Indenture, as the Debt 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 Security Registrar or the Trustee) be duly
endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company, the Security Registrar and the Trustee duly executed, by the Holder thereof or such Holder's
attorney duly authorized in writing. 

        No
charge to any Holder shall be made for any registration of transfer or exchange of Debt 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 transfer, registration of transfer or exchange of Debt Securities, other than exchanges expressly provided in this Indenture to be made
at the Company's own expense or without expense or without charge to the Holders. 

        The
Company shall not be required (i) to issue, register the transfer of or exchange Debt Securities of any particular series to be redeemed for a period of fifteen days preceding
the first publication of the relevant notice of redemption or, if Registered Securities are outstanding and there is no publication, the mailing of the relevant notice of redemption of Debt Securities
of such series selected for redemption under Section 1103 and ending at the close of business on the day of such mailing, 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 such Registered Security being redeemed in part. 

        Section 306.    Mutilated, Destroyed, Lost and Stolen Debt Securities.    

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

18

 

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

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

        Section 307.    Payment of Interest; Interest Rights Preserved.    

        Interest
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 Registered
Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. At the option of the Company, payment of interest on any
Registered Security may be made by check in the currency designated for such payment pursuant to the terms of such Registered Security mailed to the address of the Person entitled thereto as such
address shall appear in the Security Register or by wire transfer to an account in such currency designated by such Person in writing not later than ten days prior to the date of such payment. 

        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 registered Holder on the relevant Regular Record Date by virtue of his having been such Holder, and such Defaulted Interest may be paid by the Company, at
its election in each case, as provided in Clause (1) or (2) below: 

        (1)   The
Company may elect to make payment of any Defaulted Interest to the Persons in whose names the 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 notify the
Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Registered Security of such series and the date of the proposed payment, and at the same time the Company shall
deposit with the Trustee an amount of money and/or Government Obligations the payments of principal and interest on which when due (and without reinvestment) will provide money in such amounts as will
(together with any money irrevocably deposited in trust with the Trustee, without investment) be 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 and/or Government Obligations when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Company 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
Company shall promptly notify the Trustee of such Special Record Date. Unless the Trustee is acting as the Security Registrar, promptly after such Special Record Date, the Company shall furnish the
Trustee with a list, or shall make arrangements satisfactory to the Trustee with respect thereto, of the names and addresses of, and principal 

19

 

amounts
of Registered Securities of such series held by, the Holders appearing on the Security Register at the close of business on such Special Record Date. In the name and at the expense of the
Company, the Trustee 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 Registered
Securities of such series at his address as it appears in the Security Register, or sent to the Depositary pursuant to Applicable Procedures, 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 mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose
names the 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 on the Registered Securities of any series in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the 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, such manner of payment shall be deemed practicable by the Trustee. 

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

        Section 308.    Persons Deemed Owners.    

        Prior
to due presentment of a Registered Security for registration of transfer, the Company, the Trustee and any agent of the Company or of 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 (and premium, if any) and (subject to Section 307) interest
on such Registered Security and for all other purposes whatsoever, whether or not such Registered Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee
shall be affected by notice to the contrary. 

        None
of the Company, the Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for any actions taken or not taken by the Depositary, any aspect of
the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial
ownership interests. The Company, the Trustee and the Securities Registrar shall be entitled to deal with any Depositary, and any nominee thereof, that is the Holder of any such Global Security for
all purposes of this Indenture relating to such Global Security (including the payment of principal, premium, if any, and interest and additional amounts, if any, selection for redemption, the giving
of notice to, or instructions, consents or directions by or to the owner or holder of a beneficial ownership interest in such Global Security) as the sole Holder of such Global Security and shall have
no obligations to the beneficial owners thereof. None of the Company, the Trustee, any Paying Agent or the Security Registrar shall have any responsibility or liability for any acts or omissions of
any such Depositary with respect to such Global Security, for the records of any such Depositary, including records in respect of beneficial ownership interests in respect of any such Global Security,
for any transactions between such Depositary and any participant in such Depositary or between or among any such Depositary, any such participant and/or any holder or owner of a beneficial interest in
such Global Security or for any transfers of beneficial interests in any such Global Security. 

20

 

        Section 309.    Cancellation.    

        Unless
otherwise provided with respect to a series of Debt Securities, all Debt Securities surrendered for payment, redemption, repayment, transfer, exchange or credit against any
sinking fund payment pursuant to this Indenture shall, if surrendered to the Company or any agent of the Company, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at
any time deliver to the Trustee for cancellation any Debt Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Debt
Securities so delivered shall be promptly cancelled by the Trustee. No Debt Securities shall be authenticated in lieu of or in exchange for any Debt Securities cancelled as provided in this Section,
except as expressly permitted by this Indenture. All cancelled Debt Securitiess held by the Trustee shall be disposed of in accordance with the Trustee's procedures for the disposition of canceled
securities in effect as of the date of such disposition (subject to the record retention requirements of the Exchange Act). 

        Section 310.    Computation of Interest.    

        Except
as otherwise specified as contemplated by Section 301 for Debt Securities of any series, interest on the Debt Securities of each series shall be computed on the basis of a
360-day year of twelve 30-day months. 

        Section 311.    CUSIP Numbers.    

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

 
 

  ARTICLE FOUR    
    
    Satisfaction and Discharge    
    

        Section 401.    Satisfaction and Discharge of Indenture.    

        This
Indenture shall upon Company Request cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of Debt Securities herein expressly
provided for and rights to receive payments of principal and interest thereon and any right to receive additional amounts, as provided in Section 1006) and the Trustee, at the expense of the
Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture when 

        (1)   either

        (A)  all
Debt Securities theretofore authenticated and delivered than (i) Debt Securities which have been destroyed, lost or stolen and which have been replaced or
paid as provided in Section 306, (ii) Debt Securities for whose payment money and/or Government Obligations have 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 1003) have been delivered to the Trustee cancelled or for cancellation; or 

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

          (i)  have
become due and payable, or 

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

21

 

        (iii)  are
to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and
at the expense, of the Company, 

and
the Company, in the case of (B)(i), (B)(ii) or (B)(iii) above, has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose money and/or Government
Obligations the payments of principal and interest on which when due (and without reinvestment) will provide money in such amounts as will (together with any money irrevocably deposited in trust with
the
Trustee, without investment) be sufficient, in the written opinion of a nationally recognized firm of independent public accountants delivered to the Trustee, to pay and discharge the entire
indebtedness on such Debt Securities of such series for principal (and premium, if any) and interest, and any mandatory sinking fund, repayment or analogous payments thereon, on the scheduled due
dates therefor to the date of such deposit (in the case of Debt Securities which have become due and payable) or to the Stated Maturity or Redemption Date, if any, and all Repayment Dates (in the case
of Debt Securities repayable at the option of the Holders thereof); provided, however, that in the event a petition for relief under any applicable
Federal or state bankruptcy, insolvency, reorganization or other similar law is filed with respect to the Company within 91 days after the deposit, the obligations of the Company under the
Indenture with respect to the Debt Securities of such series shall not be deemed terminated or discharged, and in such event the Trustee shall be required to return the deposited money and Government
Obligations then held by the Trustee to the Company; 

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

        (3)   the
Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel each stating that all conditions precedent herein provided for relating to
the satisfaction and discharge of this Indenture have been complied with. 

Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 607 and, if money or Government Obligations shall have been
deposited with the Trustee pursuant to Subclause (B) of Clause (1) of this Section, the obligations of the Trustee under Section 402 and the last paragraph of Section 1003
shall survive. 

        Section 402.    Application of Trust Money and Government Obligations.    

        (a)   Subject
to the provisions of the last paragraph of Section 1003, all money and Government Obligations deposited with the Trustee pursuant to Section 401,
403 or 1401 shall be held in trust and such money and the principal and interest received on such Government Obligations shall be applied by it, in accordance with the provisions of the Debt
Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled
thereto, of the principal (and premium, if any) and interest for whose payment such money or Government Obligations have been deposited with the Trustee. 

        (b)   The
Trustee shall deliver or pay to the Company from time to time upon Company Request any Government Obligations or money held by it as provided in Section 403
or 1401 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount
thereof which then would have been required to be deposited for the purpose for which such Government Obligations or money were deposited or received. 

        (c)   The
Trustee shall deliver to the Company from time to time upon Company Request any Government Obligations held by it as provided in Section 403 or 1401, provided
that the Company in 

22

 

substitution
therefor simultaneously delivers to the Trustee, money or other Government Obligations which, in the opinion of a nationally recognized firm of independent public accountants expressed in
a written certification thereof delivered to the Trustee, would then be sufficient to satisfy the Company's payment obligations in respect of the Debt Securities in the manner contemplated by
Section 403 or 1401. 

        Section 403.    Satisfaction, Discharge and Defeasance of Debt Securities of Any
Series.    

        If
this Section 403 is specified, as contemplated by Section 301, to be applicable to Debt Securities of any series, then, notwithstanding Section 401,
(i) the Company shall be deemed to have paid and discharged the entire indebtedness on all the Outstanding Debt Securities of any such series; (ii) the provisions of this Indenture as it
relates to such Outstanding Debt Securities shall no longer be in effect (except as to (A) the rights of Holders of Debt Securities to receive, from the trust fund described in
subparagraph (1) below, payment of (x) the principal of (and premium, if any) and any installment of principal of (and premium, if any) or interest on such Debt Securities on the Stated
Maturity of such principal (and premium, if any) or installment of principal (and premium, if any) or interest or (y) any mandatory sinking fund, repayment or analogous payments applicable to
the Debt Securities of that series on that day on which such payments are due and payable in accordance with the terms of this Indenture and of such Debt Securities, (B) the Company's
obligations with respect to such Debt Securities under Sections 304, 305, 306, 1002, 1003 and 1006, and (C) the rights, powers, trusts, duties and immunities of the Trustee hereunder,
including those under Section 607 hereof); and (iii) the Trustee, at the expense of the Company, shall, upon Company Order, execute proper instruments acknowledging satisfaction and
discharge of such indebtedness, when 

        (1)   either

        (A)  with
respect to all Outstanding Debt Securities of such series, with reference to this Section 403, the Company has deposited or caused to be deposited with the
Trustee irrevocably, as trust funds in trust, money and/or Government Obligations the payments of principal and interest on which when due (and without reinvestment) will provide money in such amounts
as will (together with any money irrevocably deposited in trust with the Trustee, without investment) be sufficient, in the written opinion of a nationally recognized firm of independent public
accountants delivered to the Trustee, to pay and discharge (i) the principal of (and premium, if any) and interest on the Outstanding Debt Securities of that series on the Stated Maturity of
such principal or interest or, if such series may be redeemed by
the Company prior to the Stated Maturity thereof and the Company shall have given irrevocable instructions to the Trustee to effect such redemption, at the date fixed for such redemption pursuant to
Article Eleven, and (ii) any mandatory sinking fund payments or analogous payments applicable to Debt Securities of such series on the date on which such payments are due and payable in
accordance with the terms of this Indenture and of such Debt Securities; or 

        (B)  the
Company has properly fulfilled such other means of satisfaction and discharge as is specified, as contemplated by Section 301, to be applicable to the Debt
Securities of such series; 

        (2)   the
Company has paid or caused to be paid all sums payable with respect to the Outstanding Debt Securities of such series; 

        (3)   such
deposit will not result in a breach of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by
which it is bound; 

        (4)   no
Event of Default or event which, with the giving of notice or lapse of time, or both, would become an Event of Default pursuant to Section 501(1), (2), (3),
(6) or (7) with respect to the Debt Securities of such series shall have occurred and be continuing on the date of such 

23

 

deposit
and no Event of Default under Section 501(6) or Section 501(7) or event which, with the giving of notice or lapse of time, or both, would become an Event of Default under
Section 501(6) or Section 501(7) shall have occurred and be continuing on the 91st day after such date; provided, however, that should that condition fail to be satisfied on or
before such 91st day, the Trustee shall promptly, upon satisfactory receipt of evidence of such failure, return such deposit to the Company; 

        (5)   if
the Debt Securities of that series are then listed on any domestic or foreign securities exchange, the Company shall have delivered to the Trustee an Opinion of
Counsel to the effect that such deposit, defeasance and discharge will not cause such Debt Securities to be delisted; and 

        (6)   the
Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to
the satisfaction and discharge of the entire indebtedness of all Outstanding Debt Securities have been complied with. 

        Any
deposits with the Trustee referred to in Section 403(1)(A) above shall be irrevocable and shall be made under the terms of this Indenture or a supplemental indenture, or an
escrow or trust agreement in form and substance satisfactory to the Trustee. If any Outstanding Debt Securities of such series are to be redeemed prior to their Stated Maturity, whether pursuant to
any optional redemption provisions or in accordance with any mandatory sinking fund requirement, the applicable supplemental indenture, escrow or trust agreement shall provide therefor and the Company
shall make such arrangements as are satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company. 

        Upon
the satisfaction of the conditions set forth in this Section 403 with respect to all the Outstanding Debt Securities of any series, the terms and conditions of such series,
including the terms and conditions with respect thereto set forth in this Indenture, shall no longer be binding upon, or applicable to, the Company;  provided that the Company shall not be discharged
from any payment obligations in respect of Debt Securities of such series which are deemed not to be
Outstanding under clause (iii) of the definition thereof if such obligations continue to be valid obligations of the Company under applicable law. 

        Notwithstanding
the cessation, termination and discharge of all obligations, covenants and agreements (except as provided above in this Section 403) of the Company under this
Indenture with respect to any series of Debt Securities, the obligations of the Company to the Trustee under Section 607, and the obligations of the Trustee under Section 402 and the
last paragraph of Section 1003, shall survive with respect to such series of Debt Securities. 

 
 

  ARTICLE FIVE    
    
    Remedies    
    

        Section 501.    Events of Default.    

        "Event
of Default," wherever used herein with respect to Debt Securities of any series, means any one of the following events (whatever the reason for such Event of Default and whether
it shall be
voluntary or involuntary or be effected by operation of law, pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

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

        (2)   default
in the payment of the principal of (or premium, if any, on) any Debt Security of such series at its Maturity; or 

24

 

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

        (4)   default
in the performance, or breach, of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty a default in whose performance or
whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of Debt Securities of a series other than such series),
and continuance of such default or breach for a period of 60 days after there has been given by registered or certified mail, by overnight air courier guaranteeing next day delivery, 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 Debt Securities of such series, a written notice specifying such default
or breach and requiring it to be remedied and stating that such notice is a "Notice of Default" hereunder, or 

        (5)   the
entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company in an involuntary case or proceeding under
any applicable Federal or state bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as properly
filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law, or appointing a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the
continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 90 consecutive days; or 

        (6)   the
commencement by the Company of a voluntary case or proceeding under any applicable Federal or state bankruptcy, insolvency, reorganization or other similar law or of
any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for
relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or state bankruptcy, insolvency, reorganization or other similar law or to the commencement of any
bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable Federal or State law, or the
consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of the Company or
of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become
due, or the taking of corporate action by the Company in furtherance of any such action; or 

        (7)   any
other Event of Default provided with respect to Debt Securities of such series specified as contemplated by Section 301. 

        Section 502.    Acceleration of Maturity; Rescission and Annulment.    

        If
an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less
than 25% in principal amount of Outstanding Debt Securities of such series may declare the principal amount (or, if the Debt Securities of such series are Original Issue Discount Securities, such
portion of the principal amount as may be specified in the terms of such series) of and all accrued but unpaid interest on all the Debt Securities of such series to be due and payable immediately, by
a notice in writing to the Company (and to the Trustee if given by such Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. In
the case of an Event of Default specified in clauses (5) or (6) of Section 501 hereof, with respect to the Company, all outstanding Securities will become due and payable
immediately without further action or notice. Upon 

25

 

payment
of such amount, all obligations of the Company in respect of the payment of principal of the Debt Securities of such series shall terminate. 

        At
any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or decree for payment of the money due has been
obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Debt Securities of such series, by written notice to the Company and
the Trustee, may rescind and annul such declaration and its consequences if 

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

        (A)  all
overdue installments of interest on all Debt Securities of such series (or of all series, as the case may be), 

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

        (C)  to
the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor in such Debt Securities,
or, if no such rate or rates are so prescribed, at the rate borne by the Securities during the period of such default, and 

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

        and

        (2)   all
Events of Default with respect to Debt Securities of such series, other than the non-payment of the principal of Debt Securities of such series which
have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513. 

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

        Section 503.    Collection of Indebtedness and Suits for Enforcement by Trustee.    

        The
Company covenants that if: 

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

        (2)   default
is made in the payment of the principal of (or premium, if any, on) any Debt Security at the Maturity thereof, 

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

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

26

 

        If
an Event of Default with respect to Debt Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights
of the Holders of Debt 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 504.    Trustee May File Proofs of Claim.    

        In
case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceedings, or any voluntary or
involuntary case under the Federal bankruptcy laws as now or hereafter constituted, relative to the Company or any other obligor upon the Debt Securities of a particular series or the property of the
Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of such Debt Securities shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such
proceedings or otherwise, 

        (1)   to
file and prove a claim for the whole amount of principal (and premium, if any) and interest owing and unpaid in respect of the Debt Securities of such series and to
file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 

        (2)   to
collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; 

and
any receiver, assignee, trustee, custodian, liquidator, sequestrator or other similar official in any such proceeding is hereby authorized by each Holder to make such payments to the Trustee, and
in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607. To the extent that the payment of any such compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607 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. The Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or
similar official and be a member of a creditors' committee or other similar committee. 

        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 Debt Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

        Section 505.    Trustee May Enforce Claims Without Possession of Debt Securities.    

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

27

 

 

        Section 506.    Application of Money Collected.    

        Any
money or property collected by the Trustee pursuant to this Article or distributable in respect of the Company's obligations under this Indenture after an Event of Default shall be
applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money or property on account of principal (and premium, if any) or interest, upon
presentation of the Debt Securities, and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 

        FIRST:    
To the payment of all amounts due the Trustee or any predecessor trustee under Section 607; 

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

        THIRD:    
The balance, if any, to the Person or Persons entitled thereto. 

        The
Trustee may fix a record date and payment date for any payment to Holders of Securities pursuant to this Section 506. 

        Section 507.    Limitation on Suits.    

        No
Holder of any Debt Securities of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a
receiver or trustee, or for any other remedy hereunder, unless 

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

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

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

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

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

it
being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or
prejudice the rights of any other 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 508.    Unconditional Right of Holders to Receive Principal, Premium and
Interest.    

        Notwithstanding
any other provision in this Indenture, the Holder of any Debt Security shall have the right which is absolute and unconditional to receive payment of the principal of
(and premium, if any) and (subject to Section 307) interest on such Debt Security on the respective Stated Maturity or Maturities expressed in such Debt Security (or, in the case of redemption
or repayment, on the 

28

 

Redemption
Date or the Repayment Date, as the case may be) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. 

        Section 509.    Restoration of Rights and Remedies.    

        If
the Trustee or any Holder has instituted any proceedings 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 the Company, the Trustee and the Holders shall, subject to any determination in such proceeding, be restored
severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

        Section 510.    Rights and Remedies Cumulative.    

        Except
as otherwise provided in Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right
or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in
equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

        Section 511.    Delay or Omission Not Waiver.    

        No
delay or omission of the Trustee or of any Holder of any Debt Security to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or
constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this
Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

        Section 512.    Control by Holders of Debt Securities.    

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

        (1)   such
direction shall not be in conflict with any rule of law or with this Indenture or involve the Trustee in personal liability; 

        (2)   subject
to the provisions of Section 601, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a
Responsible Officer or Responsible Officers of the Trustee, determine that the proceedings so directed would be unjustly prejudicial to the Holders of Debt Securities of such series not joining in any
such direction (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not any such directions are unduly prejudicial to such Holders); and 

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

        Section 513.    Waiver of Past Defaults.    

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

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

29

 

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

        Upon
any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such
waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

        Section 514.    Undertaking for Costs.    

        All
parties to this Indenture agree, and each Holder of any Debt Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any
suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in
such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys' fees, against any party litigant in such
suit, having a due regard to the merits and good faith of the claims or defenses made by such party litigant, but the provisions of this Section shall not apply to any suit instituted by the Company
or the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 25% in principal amount of the Outstanding Debt Securities of any series, or to any suit
instituted by any Holder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Debt Security on or after the respective Stated Maturity or Maturities expressed
in such Debt Security (or, in the case of redemption or repayment, on or after the Redemption Date or Repayment Date, as the case may be). 

        Section 515.    Waiver of Stay or Extension Laws.    

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

 
 

  ARTICLE SIX
  
    The Trustee    
    

        Section 601.    Certain Duties and Responsibilities.    

        Except
during the continuance of an Event of Default, the duties of the Trustee shall be determined solely by the express provisions of this Indenture and the Trustee need perform only
those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee. 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 this Indenture. However, the Trustee shall examine the certificates and opinions 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). The Trustee may not be relieved from liabilities 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 the first paragraph of this Section 601; (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 

30

 

facts;
and (iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 512.
The Trustee shall not be required to give any bond or surety in respect of the performance of its powers or duties hereunder. 

        In
case an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture, and shall use the same degree of care and
skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. Notwithstanding the foregoing, no provision of this Indenture shall
require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if
it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. Whether or not therein expressly so
provided, every provision of this
Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 

        Section 602.    Notice of Default.    

        If
a default or Event of Default occurs hereunder with respect to Debt Securities of any series and if it is known to a Responsible Officer of the Trustee, the Trustee shall transmit by
mail to all Holders of Debt Securities of such series notice of such default within 90 days after it occurs as and to the extent provided by the Trust Indenture Act; provided, however, that in
the case of any default of the character specified in Section 501(4) with respect to Debt Securities of such series no such notice to Holders shall be given until at least 30 days after
the occurrence thereof. Except in the case of a Default or Event of Default relating to the payment of principal or interest on any Security, the Trustee may withhold the notice if and so long as a
committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders of the Securities. For the purpose of this Section, the term "default"
means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Debt Securities of such series. 

        Section 603.    Certain Rights of Trustee.    

Except
as otherwise provided in Section 601 

        (a)   the
Trustee may rely and shall be protected in acting or refraining from acting upon any signature, resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, bond, debenture, note, or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

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

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

        (d)   the
Trustee may consult with counsel concerning all matters of trust hereof and duties hereunder, and may in all cases pay such reasonable compensation to any attorney,
agent, receiver or employee retained or employed by it in connection herewith, and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in
respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

        (e)   the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders of Debt
Securities of such series pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or 

31

 

indemnity
satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 

        (f)    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, or inquire as to the performance by the Company of any of its covenants in this
Indenture, 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, other than any such books or records containing
information as to the affairs of the customers of the Company or any of its Subsidiaries; provided that the Trustee may examine such books and records
relating to customers to the extent that such books and records contain information as to any payments made to such customers in their capacity as Holders of Debt Securities; 

        (g)   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 any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; no Depositary or Paying Agent shall be deemed an agent of the Trustee
and the Trustee shall not be responsible for any act or omission by any of them; 

        (h)   the
Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it
by this Indenture, and the permissive
right of the Trustee to do things enumerated in this Indenture shall not be construed as a duty of the Trustee; 

        (i)    the
Trustee shall not be required to take notice or be deemed to have notice of any default or Event of Default hereunder unless the Trustee shall be specifically
notified in writing of such default or Event of Default by the Company or by the Holders of at least 25% of the aggregate principal amount of the Securities by written notice of such event sent to the
Trustee in accordance with Section 105, and such notice references the Securities and this Indenture; 

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

        (k)   in
no event shall the Trustee be responsible or liable for any 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 may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized at such time to furnish the
Trustee with directions relating to any other matter requiring direction from the Company pursuant to this Indenture; and 

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

32

 

        Section 604.    Not Responsible for Recitals or Issuance of Debt
Securities.    

        The
recitals contained herein and in the Debt Securities, except the Trustee's certificates of authentication, and the information in any registration statement, including all
attachments thereto, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or
sufficiency of this Indenture or of the Debt Securities of any series. The Trustee shall not be accountable for the use or application by the Company of any Debt Securities or the proceeds thereof or
funds received and disbursed in accordance with the Indenture. 

        Section 605.    May Hold Debt Securities.    

        The
Trustee, any Paying Agent, the Security Registrar or any other agent of the Company or the Trustee, in its individual or any other capacity, may become the owner or pledgee of Debt
Securities, and, subject to Sections 608 and 613, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying Agent, Security Registrar or such agent. 

        Section 606.    Money Held in Trust.    

        Money
held by the Trustee or any Paying Agent in trust hereunder need not be segregated from other funds except to the extent required by law. Neither the Trustee nor any Paying Agent
shall be under any liability for interest on any money received by it hereunder except as otherwise agreed with the Company. 

        Section 607.    Compensation and Reimbursement.    

The
Company agrees 

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

        (2)   to
reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of
this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any
such expense, disbursement or advance as may be attributable to its negligence or willful misconduct; and 

        (3)   to
indemnify the Trustee and its officers, directors, employees and agents for, and to hold them harmless against, any loss, liability, damages, claims, or expense
(including the reasonable compensation and the expenses and disbursements of its agents and counsel) incurred without negligence or willful misconduct on its part, arising out of or in connection with
the acceptance or administration of this trust or performance of its duties hereunder, including the reasonable costs and expenses of defending itself against any claim or liability in connection with
the exercise or performance of any of its rights, powers or duties hereunder. 

        The
Trustee shall promptly notify the Company of any claim for which it may seek indemnification pursuant to the provisions of this Indenture. Failure by the Trustee to so notify the
Company shall not relieve the Company of its obligations hereunder. The Company shall be entitled to participate in, and to the extent that it shall wish, to assume the defense of such claim, with
counsel satisfactory to the Trustee (and the Trustee shall cooperate in the defense thereof). The Company shall not be obligated under any settlement agreement relating to any claim under this
Indenture to which it has not agreed in writing. 

33

 

 

        As
security for the performance of the obligations of the Company under this Section the Trustee shall have a claim prior to the Debt Securities upon all property and funds held or
collected by the Trustee as such, except funds held in trust for the payment of principal of (and premium, if any) or interest on particular Debt Securities. 

        The
provisions of this Section 607 shall survive the resignation or removal of the Trustee and the termination or discharge of this Indenture. 

        When
the Trustee incurs expenses or renders services after an Event of Default specified in Sections 501(5) or (6) 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. "Trustee" for the purposes of this
Section 607 shall include any predecessor Trustee and the Trustee in each of its capacities hereunder and each agent, custodian and other person employed to act hereunder;  provided, however, that the negligence or willful misconduct of any Trustee hereunder shall not affect
the rights of any other Trustee hereunder. 

        Section 608.    Disqualification; Conflicting Interests.    

        If
the Trustee has or shall acquire any conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and
in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by such Act, the Trustee shall not be deemed to have a conflicting
interest with respect to Debt Securities of any series under this Indenture or any other indenture of the Company by virtue of being a trustee under this Indenture with respect to any particular
series of Debt Securities. 

        Section 609.    Corporate Trustee Required; Eligibility.    

        There
shall at all times be a Trustee hereunder which shall be a corporation that is eligible pursuant to the Trust Indenture Act to act as such and organized and doing business under
the laws of the United States, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least
$25,000,000, and subject to supervision or examination by Federal or State authority; provided, however, that if Section 310(a) of the Trust Indenture Act or the rules and regulations of the
Commission under the Trust Indenture Act at any time permit a corporation organized and doing business under the laws of any other jurisdiction to serve as trustee of an indenture qualified under the
Trust Indenture Act, this Section 609 shall be automatically amended to permit a corporation organized and doing business under the laws of any such other jurisdiction to serve as Trustee
hereunder. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid 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. 

        Section 610.    Resignation and Removal; Appointment of Successor.    

        (a)   No
resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by
the successor Trustee under Section 611. 

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

34

 

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

        (d)   If
at any time: 

        (1)   the
Trustee shall fail to comply with Section 608 with respect to the Debt Securities of any series after written request therefor by the Company or by any Holder
who has been a bona fide Holder of a Debt Security of such series for at least six months, or 

        (2)   the
Trustee shall cease to be eligible under Section 609 with respect to any series of Debt Securities and shall fail to resign after written request therefor by
the Company or by any such Holder, or 

        (3)   the
Trustee shall become incapable of acting with respect to any series of Debt Securities or a decree or order for relief by a court having jurisdiction in the premises
shall have been entered in respect of the Trustee in an involuntary case under the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or State bankruptcy,
insolvency or similar law; or a decree or order by a court having jurisdiction in the premises shall have been entered for the appointment of a receiver, custodian, liquidator, assignee, trustee,
sequestrator or other similar official of the Trustee or of its property or affairs, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of
rehabilitation, conservation, winding up or liquidation, or 

        (4)   the
Trustee shall commence a voluntary case under the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or State bankruptcy,
insolvency or similar law or shall consent to the appointment of or taking possession by a receiver, custodian, liquidator, assignee, trustee, sequestrator or other similar official of the Trustee or
its property or affairs, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due, or shall take corporate action
in furtherance of any such action, 

then,
in any such case, (i) the Company by a Board Resolution may remove the Trustee with respect to such series at any time or (ii) subject to Section 514, any Holder who has
been a bona fide Holder of a Debt Security of any series 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 for the Debt Securities of such series and the appointment of a successor Trustee. 

        (e)   If
the Trustee shall resign, be removed or become incapable of acting with respect to any series of Debt Securities, or if a vacancy shall occur in the office of Trustee
for any cause, with respect to the Debt Securities or one or more series, the Company shall promptly appoint a successor Trustee or Trustees with respect to the Debt Securities of that or those series
(it being understood that any such successor Trustee may be appointed with respect to the Debt 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 Debt Securities of any particular series) and shall comply with the applicable requirements of Section 611. If, within one year after such resignation, removal or incapability,
or the occurrence of such vacancy, a successor Trustee with respect to the Debt Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding
Debt 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, become the successor
Trustee with respect to the Debt Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Debt Securities of
any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner hereinafter provided, any Holder who has been a bona fide Holder of a Debt Security of such
series for at least six months may, subject 

35

 

to
Section 514, 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 Debt
Securities of such series. 

        (f)    The
Company shall give notice of each resignation and each removal of the Trustee with respect to the Debt Securities of any series and each appointment of a successor
Trustee with respect to the Debt Securities of any series by sending pursuant to Applicable Procedures, or mailing written notice of such event by first-class mail, postage prepaid, to the Holders of
Registered Securities, if any, of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor Trustee with respect to the Debt
Securities of such series and the address of its Corporate Trust Office. 

        Section 611.    Acceptance of Appointment by Successor.    

        (a)   In
the case of an appointment hereunder of a successor Trustee with respect to all Debt Securities, every such successor Trustee so appointed shall execute, acknowledge
and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such
successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on 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
the case of the appointment hereunder of a successor Trustee with respect to the Debt Securities of one or more (but not all) series, the Company, the retiring
Trustee upon payment of its charges and each successor Trustee with respect to the Debt Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each
successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Debt Securities of that or those series to which the appointment of such successor Trustee relates, (2) if
the retiring Trustee is not retiring with respect to all Debt 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 Debt Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and
(3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it
being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust
or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture, the resignation or
removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee with respect to the Debt Securities of that or those series to which the appointment of such successor Trustee relates; but, on the 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 Debt Securities of that or those series to which the appointment of such successor Trustee relates. 

        (c)   Upon
request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor
Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 

36

 

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

        Section 612.    Merger, Conversion, Consolidation or Succession to Business.    

        Any
corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation succeeding to all or substantially all 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 executing or filing of any
paper or any further act on the part of any of the parties hereto. In case any Debt Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger,
conversion, consolidation or sale to such authenticating Trustee may adopt such authentication and deliver the Debt Securities so authenticated with the same effect as if such successor Trustee had
itself authenticated such Debt Securities. In case any Debt Securities shall not have been authenticated by such predecessor Trustee, any such successor Trustee may authenticate and deliver such Debt
Securities, in either its own name or that of its predecessor Trustee, with the full force and effect which this Indenture provides for the certificate of authentication of the Trustee. 

        Section 613.    Preferential Collection of Claims Against Company.    

        If
and when the Trustee shall be or shall become a creditor, directly or indirectly, secured or unsecured, of the Company (or any other obligor upon the Debt Securities), the Trustee
shall be subject to the provisions of the Trust Indenture Act regarding collection of claims against the Company (or any such other obligor), excluding any creditor relationship listed in Trust
Indenture Act Section 311(b). 

        Section 614.    Authenticating Agent.    

        The
Trustee may upon Company request appoint one or more Authenticating Agents (including, without limitation, the Company or any Affiliate thereof) with respect to one or more series of
Debt Securities which shall be authorized on behalf of the Trustee in authenticating Debt Securities of such series in connection with the issue, delivery, registration of transfer, exchange, partial
redemption or repayment of such Debt Securities. Wherever reference is made in this Indenture to the authentication of Debt Securities by the Trustee or the Trustee's certificate of authentication,
such reference shall be deemed to include authentication 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 must be acceptable to the Company and, in the case of Registered Securities, must be a corporation organized and doing business under the laws of the United States or
of any State or the District of Columbia, having a combined capital and surplus of at least $25,000,000, authorized under such laws to do a trust business and subject to supervision or examination by
Federal or State authorities. 

        Any
corporation succeeding to the corporate agency business of an authenticating agent shall continue to be an authenticating agent without the execution or filing of any paper or any
further act on the part of the Trustee or such authenticating agent. 

        An
authenticating agent may at any time resign with respect to one or more series of Debt Securities by giving written notice of resignation to the Trustee and to the Company. The
Trustee may at any time terminate the agency of any authenticating agent with respect to one or more series of Debt Securities 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 an authenticating agent shall cease to be eligible in accordance with the provisions of this Section, the
Trustee may appoint a successor authenticating agent. Any successor authenticating agent upon acceptance of its appointment hereunder shall become vested with all rights, powers and duties of its 

37

 

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. 

        The
Trustee agrees to pay to each authenticating agent from time to time reasonable compensation for its services under this Section, and the Trustee shall be entitled to be reimbursed
for such payment, subject to the provisions of Section 607. 

        The
provisions of Sections 104, 111, 306, 309, 603, 604 and 605 shall be applicable to any authenticating agent. 

        Pursuant
to each appointment made under this Section, the Debt Securities of each series covered by such appointment may have endorsed thereon, in lieu of the Trustee's certificate of
authentication, an alternate certificate of authentication in substantially the following form: 

        This
is one of the Debt Securities, of the series designated herein, described in the within-mentioned Indenture. 

 

					
	 

 	 	 
	
 By	
 	
  

 As Authenticating Agent for the Trustee	
 	
 
	
 By	
 	
  

  Authorized Officer	
 	
 

 

  
 

  ARTICLE SEVEN    
    

 
    Holders' Lists and Reports By Trustee and Company    
    

        Section 701.    Company to Furnish Trustee Names and Addresses of Holders.    

        The
Company will furnish or cause to be furnished to the Trustee with respect to Debt Securities of each series for which it acts as Trustee: 

        (1)   semi-annually,
not later
than                    and                    in
each year, a list, in such form as the Trustee may reasonably require, of the names and
addresses of the Holders of Registered Securities as of the
preceding                    or                    
, as the case may be, and
 

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

provided, however, that if and so long as the Trustee shall be the Security Registrar, no such list need be furnished. 

        Section 702.    Preservation of Information; Communications to Holders.    

        (a)   The
Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders of Registered Securities contained in the most recent
list furnished to the Trustee as provided in Section 701 and the names and addresses of Holders of Registered Securities received by the Trustee in its capacity as Paying Agent or Security
Registrar, if so acting. The Trustee may destroy any list furnished to it as provided in Section 701 upon receipt of a new list so furnished. 

38

 

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

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

        Section 703.    Reports by Trustee.    

        (a)   Within
60 days after                    of each year commencing with the
first                    after the first issuance of Debt Securities pursuant to this Indenture
and at any other time required by the Trust Indenture Act, the Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture and such other matters as may
be required pursuant to the Trust Indenture Act in the manner required by the Trust Indenture Act. 

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

        Section 704.    Reports by Company.    

        The
Company shall file with the Trustee and the Commission, and transmit to Holders such information, documents and other reports, and such summaries thereof, as may be required pursuant
to the Trust Indenture Act at the time and in the manner pursuant to such Act; provided that such information, documents or reports required to be filed with the Commission pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 shall be filed with the Trustee within 15 days after the same is so required to be filed with the Commission.
Delivery of such statements, reports, notices and other information and documents to the Trustee pursuant to any of the provisions of this Section 704 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 rely exclusively on Officers' Certificates and certificates provided pursuant to Section 1008). 

 
 

  ARTICLE EIGHT    
    

 
    Consolidation, Merger, Conveyance, Transfer or Lease    
    

        Section 801.    Company May Consolidate, etc. Only on Certain Terms.    

        The
Company shall not consolidate with or merge into any other corporation or convey, transfer or lease its properties and assets substantially as an entirety to any Person, and the
Company shall not permit any Person to consolidate with or merge into the Company, or convey, transfer or lease its properties and assets substantially as an entirety to the Company, unless: 

        (1)   in
case the Company shall consolidate with or merge into another corporation or convey, transfer or lease its properties and assets substantially as an entirety to any
Person, the corporation formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the
Company substantially as an entirety shall be a corporation organized and existing under the laws of the United States of America, any political subdivision thereof or any State thereof and shall
expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the 

39

 

Trustee,
the due and punctual payment of the principal of (and premium, if any) and interest (including all additional amounts, if any, payable pursuant to Section 1006) on all the Debt
Securities and the performance of every covenant of this Indenture on the part of the Company to be performed or observed; 

        (2)   immediately
after giving effect to such transaction, no Event of Default, and no event which, after notice or lapse of time, or both, would become an Event of Default,
shall have happened and be continuing; and 

        (3)   the
Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance, transfer or lease
and such supplemental indenture comply with this Article, that all conditions precedent herein provided for relating to such transaction have been met, and that any supplemental indenture will be the
legal, valid and binding obligation of the Company in accordance with its terms. 

        Section 802.    Successor Corporation Substituted.    

        Upon
any consolidation with or merger into any other corporation, or any conveyance, transfer or lease of the properties and assets of the Company substantially as an entirety in
accordance with Section 801, the successor corporation formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall succeed to,
and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor had been named as the Company herein, and thereafter,
except in the case of a lease, the Company (which term for this purpose shall mean the Person named as the "Company" in the first paragraph of this instrument or any successor corporation which shall
theretofore have become such in the manner presented in this Article) shall be relieved of all obligations and covenants under this Indenture and the Debt Securities. 

 
 

  ARTICLE NINE    
    

 
    Supplemental Indentures    
    

        Section 901.    Supplemental Indentures without Consent of Holders.    

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

        (1)   to
evidence the succession of another corporation to the Company, and the assumption by such successor of the covenants of the Company herein and in the Debt Securities
contained; or 

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

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

        (4)   to
change or eliminate any of the provisions of this Indenture, provided that any such change or elimination
(a) shall become effective only when there is no Debt Security Outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such
provisions or (b) shall not apply to any Debt Security Outstanding; or 

40

 

        (5)   to
establish the form or terms of Debt Securities of any series as permitted by Sections 201 and 301; or 

        (6)   to
secure the Debt Securities, or in connection with any defeasance or satisfaction and discharge transaction; or 

        (7)   to
evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Debt Securities of one or more series and to add to or
change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of
Section 611(b); or 

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

        (9)   to
add to or change or eliminate any provision of this Indenture as shall be necessary or desirable in accordance with any amendments to the Trust Indenture Act,
provided such action shall not adversely affect the interest of Holders of Debt Securities of any series in any material respect. 

        Section 902.    Supplemental Indentures with Consent of Holders.    

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

        (1)   change
the Stated Maturity of the principal or any installment of principal of, or any installment of interest on, any Debt Security, or reduce the principal amount
thereof or the interest thereon or any premium payable upon redemption or repayment thereof, or change any obligation of the Company to pay additional amounts pursuant to Section 1006 (except
as contemplated by Section 801(1) and permitted by Section 901(1)), or reduce the amount of the principal of an Original Issue Discount Security that would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 502, or change any Place of Payment, or the coin or currency in which any Debt Security 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 or repayment, on or after the Redemption
Date or Repayment Date, as the case may be), or 

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

        (3)   modify
any of the provisions of this Section, Section 513 or Section 1009, except to increase any such percentage or to provide that certain other
provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Debt Security affected thereby; provided,
however, that this clause shall not be deemed to require the consent of 

41

 

any
Holder with respect to changes in the references to "the Trustee" and concomitant changes in this Section and Section 1009, or the deletion of this proviso, in accordance with the
requirements of Section 611(b) and 901(7), or 

        (4)   adversely
affect the right to repayment, if any, of Debt Securities of any series at the option of the Holders thereof. 

        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 Debt Securities, or which modifies the rights of the Holders of Debt 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 Debt Securities of any other series. 

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

        Section 903.    Execution of Supplemental Indentures.    

        In
executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture,
the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, a Company Order, an Officers' Certificate, and an Opinion of Counsel stating
that the execution of such supplemental indenture is authorized or permitted by this Indenture, and 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 affects the Trustee's own rights, duties or immunities under this Indenture or otherwise. The Company shall cause notice of any
supplemental indenture to be given to Holders promptly following its execution. 

        Section 904.    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 Debt Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

        Section 905.    Conformity with Trust Indenture Act.    

        Every
supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in effect. 

        Section 906.    Reference in Debt Securities to Supplemental Indentures.    

        Debt
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 Company, bear a
notation in form approved by the Company as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Debt 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
Debt Securities of such series. 

42

 

 

 
 

  ARTICLE TEN    
    

 
    Covenants    
    

        Section 1001.    Payment of Principal, Premium and Interest.    

        The
Company covenants and agrees for the benefit of each series of Debt Securities that it will duly and punctually pay the principal of (and premium, if any) and interest on the Debt
Securities in accordance with the terms of the Debt Securities and this Indenture. Principal, premium, if any, and interest shall be considered paid on the date due if the Paying Agent, if other than
the Company or one of its Subsidiaries, holds as of 12:00 noon Eastern Time on the due date money deposited by the Company in immediately available funds and designated for and sufficient to pay all
principal, premium, if any, and interest then due. The Company shall be responsible for making calculations called for under the Securities, including but not limited to determination of Redemption
Price, premium, if any, and any additional amounts or other amounts payable on the Securities. The Company will make the calculations in good faith and, absent manifest error, its calculations will be
final and binding on the Holders. The Company will provide a schedule of its calculations to the Trustee when requested by the Trustee, and the Trustee is entitled to rely conclusively on the accuracy
of the Company's calculations without independent verification. The Trustee shall forward the Company's calculations to any Holder of the Notes upon the written request of such Holder. 

        Section 1002.    Maintenance of Office or Agency.    

        The
Company will maintain in each Place of Payment for any series of Debt Securities an office or agency where Debt may be presented or surrendered for payment, where Debt Securities may
be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Debt Securities and this Indenture may be served. If the Debt Securities
of such series are listed on a stock exchange located outside the United States and such stock exchange shall so require, the Company will maintain a Paying Agent in any required city located outside
the United States, as the case may be, so long as the Debt Securities of such series are listed on such exchange. 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 or demands may be made or served at the Corporate Trust Office, and the Company hereby appoints the Trustee its agent to receive all presentations,
surrenders, notices and demands. 

        The
Company may also from time to time designate one or more other offices or agencies (in or outside of such Place of Payment) where the Debt 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 any series of Debt Securities for such purposes. The Company will give prompt written notice to the Trustee of
any such designation and any change in the location of any such other office or agency. 

        Section 1003.    Money for Debt Securities Payments to Be Held in Trust.    

        If
the Company shall at any time act as its own Paying Agent with respect to any series of Debt Securities, it will, on or before each due date of the principal of (and premium, if any)
or interest on any of the Debt Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and 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 of its action or failure so to act. 

43

 

        Whenever
the Company shall have one or more Paying Agents with respect to any series of Debt Securities, it will, on or before each due date of the principal of (and premium, if any) or
interest on any of the Debt Securities of such series, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust
for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so
to act. 

        The
Company will cause each Paying Agent with respect to any series of Debt 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 (and premium, if any) or interest on Debt Securities of such 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 Debt Securities of such series) in the making of any payment of principal of (and
premium, if any) or interest on the Debt Securities of such 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. 

        The
Company may at any time, for the purpose of terminating its obligations under this Indenture with respect to Debt Securities of any series or for any other purpose, pay, or by
Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which
such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such
money. 

        Any
principal and interest received on the Government Obligations deposited with the Trustee or 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 (and premium, if any) or interest on any Debt Security of any series and remaining unclaimed for two years after such principal (and premium, if any) or
interest has become due and payable shall, subject to compliance with applicable abandoned property law, be paid to the Company on Company Request, or (if then held by the Company) shall be discharged
from such trust; and the Holder of such Debt 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 (including the principal and interest received on Government Obligations deposited with the Trustee), and all liability of the Company as trustee thereof, shall
thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the
Company cause to be published once, in an Authorized Newspaper of
general circulation in the Borough of Manhattan, The City of New York, and each Place of Payment or mailed to each such Holder, or both, notice that such money remains unclaimed and that, after a date
specified therein, which shall not be less than 30 days from the date of such publication or mailing, any unclaimed balance of such money then remaining will be repaid to the Company. 

        Section 1004.    Corporate Existence.    

        Subject
to Article Eight, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights (charter and
statutory) and franchises, provided, however, that the Company shall not be required to preserve any such right or franchise if the Board of Directors
shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and that the loss thereof is not disadvantageous in any material respect to the
Holders. 

44

 

        Section 1005.    Maintenance of Properties.    

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

        Section 1006.    Payment of Additional Amounts.    

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

        If
the Debt Securities of a series provide for the payment of additional amounts, at least 10 days prior to the first Interest Payment Date with respect to that series of Debt
Securities (or if the Debt Securities of that series will not bear interest prior to Maturity, the first day on which a payment of principal (and premium, if any) is made), and at least 10 days
prior to each date of payment of principal (and premium, if any) or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers' Certificate, the
Company will furnish the Trustee and the Company's principal Paying Agent or Paying Agents, if other than the Trustee, with an Officers' Certificate instructing the Trustee and such Paying Agent or
Paying Agents whether such payment of principal of (and premium, if any) or interest on the Debt Securities of that series shall be made to Holders of Debt Securities of that series who are United
States Aliens without withholding for or on account of any tax, assessment or other governmental charge described in the Debt Securities of that series. If any such withholding shall be required, then
such Officers' Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders of Debt Securities and the Company will pay to the Trustee or such
Paying Agent the additional amounts, if any, required by the terms of such Debt Securities and the first paragraph of this Section. The Company covenants to indemnify the Trustee and any Paying Agent
for, and to hold them harmless against, any loss, liability or expense reasonably incurred without negligence or bad faith on their part arising out of or in connection with actions taken or omitted
by any of them in reliance on any Officers' Certificate furnished pursuant to this Section. 

        Section 1007.    Payment of Taxes and Other Claims.    

        The
Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments and governmental charges levied or imposed
upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary, and (2) all lawful claims for labor, materials and supplies which, if unpaid, might
by law become a lien upon the property of the Company or any Subsidiary, provided, however, that the Company shall not be required to pay or discharge
or cause to be paid or discharged any such tax, assessment, charge or 

45

 

claim
whose amount, applicability or validity is being contested in good faith by appropriate proceedings. 

        Section 1008.    Officer's Certificate as to Default.    

        The
Company will furnish to the Trustee not more than 120 days after the end of the Company's fiscal year in each year (beginning with 20    ) a brief certificate from
the principal executive, financial or accounting officer of the Company as to his or her knowledge of the Company's compliance with all conditions and covenants under this Indenture (such compliance
to be determined without regard to any period of grace or requirement of notice provided under this Indenture), and, if he or she has knowledge of any default, specifying each such default of which
the signer has knowledge and the nature thereof. 

        Section 1009.    Waiver of Certain Covenants.    

        The
Company may omit in any particular instance to comply with any covenant or condition set forth in Sections 1004, 1005 and 1007 with respect to the Debt Securities of any
series if, before the time for such compliance the Holders of at least a majority in principal amount of the Debt Securities at the time Outstanding shall, by Act of such Holders, either waive such
compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant or condition except to the extent so expressly
waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such covenant or condition shall remain in full force and effect. 

 
 

  ARTICLE ELEVEN
  
    Redemption of Debt Securities    
    

        Section 1101.    Applicability of Article.    

        Debt
Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by
Section 301 for Debt Securities of any series) in accordance with this Article. 

        Section 1102.    Election to Redeem; Notice to Trustee.    

        The
election of the Company to redeem any Debt Securities shall be evidenced by a Board Resolution. In case of any redemption at the election of the Company of less than all of the Debt
Securities of any series, the Company shall, at least 45 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the
Trustee of such Redemption Date, the Redemption Price, and of the principal amount and the tenor and terms of the Debt Securities of any series to be redeemed. Any redemption may be cancelled by the
Company upon written notice to the Trustee at any time prior to notice of redemption being sent to any Holder and thereafter shall be null and void. In the case of any redemption of Debt Securities
prior to the expiration of any restriction on such redemption provided in the terms of such Debt Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers'
Certificate evidencing compliance with such restriction. If the Redemption Price is not known at the time such notice is to be given, the actual Redemption Price, calculated as described in the terms
of the Securities, will be set forth in an Officers' Certificate delivered to the Trustee no later than two Business Days prior to the Redemption Date. 

        Section 1103.    Selection by Trustee of Debt Securities to be Redeemed.    

        Except
as otherwise specified as contemplated by Section 301 for Debt Securities of any series, if less than all the Debt Securities of any series with like tenor and terms are to
be redeemed, the particular Debt Securities to be redeemed shall be selected not more than 60 days prior to the 

46

 

Redemption
Date by the Trustee, subject to Applicable Procedures, from the Outstanding Debt Securities of such series with like tenor and terms 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 Debt Securities of such series or any
integral multiple thereof which is also an authorized denomination) of the principal amount of Registered Securities (if issued in more than one authorized denomination) of such series of a
denomination larger than the minimum authorized denomination for Debt Securities of such series. 

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

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

        Section 1104.    Notice of Redemption.    

        Notice
of redemption shall be given in the manner provided in Section 106 not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Debt
Securities to be redeemed. 

        All
notices of redemption shall state: 

        (1)   the
Redemption Date, 

        (2)   the
Redemption Price (or manner of calculation if not then known), 

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

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

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

        (6)   that
the redemption is for a sinking fund, if such is the case, or the provision of the Indenture or the Securities authorizing or requiring the redemption; and 

        (7)   the
CUSIP number, if any, and that no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the
Securities. 

        A
notice of redemption published as contemplated by Section 106 need not identify particular Registered Securities to be redeemed. 

        Notice
of redemption of Debt Securities to be redeemed at the election of the Company shall be given by the Company, or, upon Company Request at least 45 days prior to the
Redemption Date (unless a shorter notice shall be satisfactory to the Trustee), by the Trustee in the name and at the expense of the Company. 

        Section 1105.    Deposit of Redemption Price.    

        On
or prior to 12:00 noon Eastern Time on any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent,
segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date)
accrued interest on, all the Debt Securities or portions thereof which are to be redeemed on that date. 

47

 

        Section 1106.    Debt Securities Payable on Redemption Date.    

        Notice
of redemption having been given as aforesaid, the Debt Securities 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 Debt Securities shall cease to bear interest. Upon surrender of any
such Debt Security for redemption in accordance with said notice, such Debt Security shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date;
provided, however, that 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 Debt Securities, or one or
more Predecessor Securities, registered as such on the relevant Record Dates according to their terms and the provisions of Section 307. 

        If
any Debt 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 the Debt Security. 

        Section 1107.    Debt Securities Redeemed in Part.    

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

 
 

  ARTICLE TWELVE    
    
    Sinking Funds    
    

        Section 1201.    Applicability of Article.    

        The
provisions of this Article shall be applicable to any sinking fund for the retirement of Debt Securities of a series except as otherwise specified as contemplated by
Section 301 for Debt Securities of such series. 

        The
minimum amount of any sinking fund payment provided for by the terms of Debt 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 Debt Securities of any series is herein referred to an "optional sinking fund payment". If provided for by the terms of Debt Securities of
any series, the amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund payment shall be applied to the redemption of Debt Securities of
any series as provided for by the terms of Debt Securities of such series. 

        Section 1202.    Satisfaction of Sinking Fund Payments with Debt Securities.    

        The
Company (1) may deliver Outstanding Debt Securities of a series (other than any previously called for redemption), and (2) may apply as a credit Debt Securities of a
series which have been redeemed either at the election of the Company pursuant to the terms of such Debt Securities or through the application of permitted optional sinking fund payments pursuant to
the terms of such Debt Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Debt Securities of such series required to be made pursuant to the
terms of such Debt Securities 

48

 

as
provided for by the terms of such series; provided that such Debt Securities have not been previously so credited. Such Debt Securities shall be received and credited for such purpose by the
Trustee at the Redemption Price specified in such Debt Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. If as a
result of the delivery or credit of Debt Securities in lieu of cash payments pursuant to this Section 1202, the principal amount of Debt Securities to be redeemed in order to exhaust the
aforesaid cash payment shall be less than $100,000, the Trustee need not call Debt Securities for redemption, except upon Company Request, and such cash payment shall be held by the Trustee or a
Paying Agent and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent shall at the request of the Company from time to time pay over and
deliver to the Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Company to the Trustee of Debt Securities purchased by the Company having an unpaid
principal amount equal to the cash payment requested to be released to the Company. 

        Section 1203.    Redemption of Debt Securities for Sinking Fund.    

        Not
less than 45 days prior to each sinking fund payment date for any series of Debt Securities (unless a shorter period shall be satisfactory to the Trustee), the Company will
deliver to the Trustee an Officers' 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, the portion thereof, if any, which is to be satisfied by crediting Debt Securities of that series pursuant to Section 1202 and the basis for any such
credit and, prior to or concurrently with the delivery of such Officers' Certificate, will also deliver to the Trustee any Debt Securities to be so credited and not theretofore delivered to the
Trustee. Not less than 30 days (unless a shorter period shall be satisfactory to the Trustee) before each such sinking fund payment date the Trustee shall select the Debt Securities to be
redeemed upon such sinking fund payment date in the manner specified in Section 1103 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 1104. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Sections 1105,
1106 and 1107. 

 
 

  ARTICLE THIRTEEN    
    
    Repayment at the Option of Holders    
    

        Section 1301.    Applicability of Article.    

        Debt
Securities of any series which are repayable at the option of the Holders thereof before their Stated Maturity shall be repaid in accordance with their terms and (except as
otherwise specified pursuant to Section 301 for Debt Securities of such series) in accordance with this Article. 

        Section 1302.    Repayment of Debt Securities.    

        Each
Debt Security which is subject to repayment in whole or in part at the option of the Holder thereof on a Repayment Date shall be repaid at the applicable Repayment Price together
with interest accrued to such Repayment Date as specified pursuant to Section 301. 

        Section 1303.    Exercise of Option; Notice.    

        Each
Holder desiring to exercise such Holder's option for repayment shall, as conditions to such repayment, surrender the Debt Security to be repaid in whole or in part together with
written notice of the exercise of such option at any office or agency of the Company in a Place of Payment, not less than 30 nor more than 45 days prior to the Repayment Date. Such notice,
which shall be irrevocable, shall specify the principal amount of such Debt Security to be repaid, which shall be equal to the minimum authorized denomination for such Debt Security or an integral
multiple thereof, and shall identify the Debt Security to be repaid and, in the case of a partial repayment of the Debt Security, shall specify 

49

 

the
denomination or denominations of the Debt Security or Debt Securities of the same series to be issued to the Holder for the portion of the principal of the Debt Security surrendered which is not
to be repaid. 

        The
Company shall execute and the Trustee shall authenticate and deliver, or deliver by book entry transaction pursuant to Applicable Procedures, without service charge to the Holder of
any Registered Security so surrendered a new Registered Security or Securities of the same series, of any authorized denomination specified in the foregoing notice, in an aggregate principal amount
equal to any portion of the principal of the Registered Security so surrendered which is not to be repaid. 

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

        Section 1304.    Election of Repayment by Remarketing Entities.    

        The
Company may elect, with respect to Debt Securities of any series which are repayable at the option of the Holders thereof before their Stated Maturity, at any time prior to any
Repayment Date to designate one or more Remarketing Entities to purchase, at a price equal to the Repayment Price, Debt Securities of such series from the Holders thereof who give notice and surrender
their Debt Securities in accordance with Section 1303. 

        Section 1305.    Securities Payable on the Repayment Date.    

        Notice
of exercise of the option of repayment having been given and the Debt Securities so to be repaid having been surrendered as aforesaid, such Debt Securities shall, unless purchased
in accordance with Section 1304, on the Repayment Date become due and payable at the price therein specified and from and after the Repayment Date such Debt Securities shall cease to bear
interest and shall be paid on the Repayment Date, unless the Company shall default in the payment of such price in which case the Company shall continue to be obligated for the principal amount of
such Debt Securities and shall be obligated to pay interest on such principal amount at the rate borne by such Debt Securities from time to time until payment in full of such principal amount. 

 
 

  ARTICLE FOURTEEN    
    
    Defeasance    
    

        Section 1401.    Termination of Company's Obligations.    

        If
this Article Fifteen is specified, as contemplated by Section 301, to be applicable to any series of Debt Securities and if the Company deposits irrevocably in trust with the
Trustee money and/or Government
Obligations the payments of principal and interest on which when due (and without reinvestment) will provide money in such amounts as will (together with any money irrevocably deposited in trust with
the Trustee, without investment) be sufficient, in the written opinion of a nationally recognized firm of independent public accountants delivered to the Trustee, to pay the principal of (and premium,
if any) and any installment of principal of (and premium, if any) or interest when due on the Debt Securities of such series on the Stated Maturity of such principal or interest or, if such series may
be redeemed by the Company prior to the Stated Maturity thereof and the Company shall have given irrevocable instructions to the Trustee to effect such redemption, at the date fixed for such
redemption pursuant to Article Eleven, and any mandatory sinking fund, repayment or analogous payments thereon on the scheduled due dates therefor, the Company's obligations under Sections 801,
1005, and 1007 and any other covenant determined pursuant to Section 301 to be subject to this Section shall terminate and Sections 501(4) (with respect to Sections 801, 1005, and
1007), 501(5), 501(6), and 501(7) (if specified as contemplated by Section 301) shall be deemed not to be an Event of Default, in each case with respect to the Debt Securities of the series for
which such deposit was made; provided, however, that (i) no Event of Default with respect to the Debt Securities of such series under 

50

 

Section 501(5)
or 501(6) or event that with notice or lapse of time or both would constitute such an Event of Default shall have occurred and be continuing on the 91st day after such
date, (ii) such deposit will not result in a breach of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is
bound, and (iii) such termination shall not relieve the Company of its obligations under the Debt Securities of such series and this Indenture to pay when due the principal of (and premium, if
any) and interest and additional amounts on such Debt Securities if such amounts are not paid (or payment is not provided for) when due from the money and Government Obligations (and the proceeds
thereof) so deposited. 

        It
shall be a condition to the deposit of cash and/or Government Obligations and the termination of the Company's obligations pursuant to the provisions of this Section with respect to
the Debt Securities of any series under Sections 801, 1005, and 1007 and any other covenant determined pursuant to Section 301 to be subject to this Section and the inapplicability of
the Events of Default contained in Sections 501(4), 501(5), 501(6), and 501(7) to the extent set forth above pursuant to the provisions of this Section with respect to Debt Securities of any
series that the Company deliver to the Trustee (i) an Officers' Certificate to the effect that under the laws in effect on the date such money and/or Government Obligations are deposited with
the Trustee, the amount thereof will be sufficient, after payment of all Federal, state and local taxes in respect thereof payable by the Trustee, to pay principal (and premium, if any) and interest
when due on the Debt Securities of such series; and (ii) an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the
defeasance contemplated in this Section have been complied with. 

        It
shall be an additional condition to the deposit of cash and/or Government Obligations and the termination of the Company's obligations pursuant to the provisions of this Section under
Sections 801, 1005, and 1007 and any other covenant determined pursuant to Section 301 to be subject to this Section and the inapplicability of the Events of Default contained in
Section 501(4), 501(5), 501(6), and 501(7)
to the extent set forth above pursuant to the provisions of this Section, with respect to the Debt Securities of any series then listed on any securities exchange, that the Company deliver an Opinion
of Counsel that the Debt Securities of such series will not be delisted from such exchange as a result of such deposit and termination. 

        After
a deposit as provided herein, the Trustee shall, upon Company Request, acknowledge in writing the discharge of the Company's obligations pursuant to the provisions of this Section
with respect to the Debt Securities of such series under Sections 801, 1005 and 1007and any other covenant determined pursuant to Section 301 to be subject to this Section and the
inapplicability of the Events of Default contained in Sections 501(4), 501(5), 501(6), and 501(7) to the extent set forth above. 

        Section 1402.    Repayment to Company.    

        The
Trustee and any Paying Agent shall promptly pay to the Company upon Company Request any money or Government Obligations not required, in the written opinion of a nationally
recognized firm of independent public accountants delivered to the Trustee, for the payment of the principal of (and premium, if any) and interest on the Debt Securities of any series for which money
or Government Obligations have been deposited pursuant to Section 1401 held by them at any time. 

        The
Trustee and any Paying Agent shall promptly pay to the Company upon Company Request, subject to compliance with applicable abandoned property law, any money held by them for the
payment of principal (and premium, if any) and interest that remains unclaimed for two years after the Maturity of the Debt Securities for which a deposit has been made pursuant to
Section 1401. After such payment to the Company, the Holders of the Debt Securities of such series shall thereafter, as unsecured general creditors, look only to the Company for the payment
thereof. 

        Section 1403.    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 the deposited Government Obligations or the principal or
interest received on such Government Obligations. 

        [remainder of page intentionally left blank]

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

 

							
	 
	 	THE SPECTRANETICS CORPORATION
	 
	 	 By
	 	   

 
	 
	 	 	 	Name:	 	 
	 
	 	 	 	Title:	 	 
	 
	 	 WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

	 
	 	 By
	 	  

 
	 
	 	 	 	Name:	 	 
	 
	 	 	 	Title:	 	 

 

 52

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Exhibit 4.4 Trustee-DBR comments 2-21-13

THE SPECTRANETICS CORPORATION Reconciliation and tie between Trust Indenture Act of 1939 and Indenture, dated as of , 201

TABLE OF CONTENTS

RECITALS OF THE COMPANY

ARTICLE ONE Definitions and Other Provisions of General Application

ARTICLE TWO Debt Security Forms

ARTICLE THREE The Debt Securities

ARTICLE FOUR Satisfaction and Discharge

ARTICLE FIVE Remedies

ARTICLE SIX The Trustee

ARTICLE SEVEN

Holders' Lists and Reports By Trustee and Company

ARTICLE EIGHT

Consolidation, Merger, Conveyance, Transfer or Lease

ARTICLE NINE

Supplemental Indentures

ARTICLE TEN

Covenants

ARTICLE ELEVEN Redemption of Debt Securities

ARTICLE TWELVE Sinking Funds

ARTICLE THIRTEEN Repayment at the Option of Holders

ARTICLE FOURTEEN DefeasanceExhibit 10.1

 

RALLY SOFTWARE DEVELOPMENT CORP.

 

FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

 

MAY 27, 2011

 

 

TABLE OF CONTENTS

 

	
 
    	
 
    	
PAGE
    
	
 
    	
 
    	
 
    
	
1.
    	
GENERAL
    	
1
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
1.1
    	
Amendment   and Restatement of Prior Agreement
    	
1
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
1.2
    	
Definitions
    	
2
    
	
 
    	
 
    	
 
    	
 
    
	
2.
    	
REGISTRATION;   RESTRICTIONS ON TRANSFER
    	
3
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.1
    	
Restrictions   on Transfer
    	
3
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.2
    	
Demand   Registration
    	
4
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.3
    	
Piggyback   Registrations
    	
6
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.4
    	
Form S-3   Registration
    	
7
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.5
    	
Expenses   of Registration
    	
8
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.6
    	
Obligations   of the Company
    	
9
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.7
    	
Termination   of Registration Rights
    	
10
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.8
    	
Delay   of Registration; Furnishing Information
    	
10
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.9
    	
Indemnification
    	
11
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.10
    	
Assignment   of Registration Rights
    	
13
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.11
    	
Amendment   of Registration Rights
    	
13
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.12
    	
Limitation   on Subsequent Registration Rights
    	
14
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.13
    	
“Market   Stand-Off” Agreement
    	
14
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.14
    	
Agreement   to Furnish Information
    	
14
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.15
    	
Rule 144   Reporting
    	
15
    
	
 
    	
 
    	
 
    	
 
    
	
3.
    	
COVENANTS   OF THE COMPANY
    	
15
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.1
    	
Basic   Financial Information and Reporting
    	
15
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.2
    	
Inspection   Rights
    	
16
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.3
    	
Confidentiality   of Records
    	
16
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.4
    	
Reservation   of Common Stock
    	
17
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.5
    	
Stock   Vesting; Acceleration
    	
17
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.6
    	
Expenses;   Compensation
    	
17
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.7
    	
Proprietary   Information and Inventions Agreement
    	
17
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.8
    	
Directors’   Liability and Indemnification
    	
17
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.9
    	
Auditors
    	
18
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.10
    	
Qualified   Small Business
    	
18
    

 

i

 

TABLE OF CONTENTS

(CONTINUED)

 

	
 
    	
 
    	
PAGE
    
	
 
    	
 
    	
 
    
	
 
    	
3.11
    	
Observer   Rights
    	
18
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.12
    	
Key   Man Insurance
    	
19
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.13
    	
Voting   Agreement
    	
19
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.14
    	
Board   Approval
    	
19
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.15
    	
Certain   Covenants Relating to SBA Matters
    	
19
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.16
    	
Termination   of Covenants
    	
20
    
	
 
    	
 
    	
 
    	
 
    
	
4.
    	
PREEMPTIVE   RIGHTS
    	
20
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.1
    	
Subsequent   Offerings
    	
20
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.2
    	
Exercise   of Rights
    	
21
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.3
    	
Issuance   of Equity Securities to Other Persons
    	
21
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.4
    	
Termination   and Waiver of Preemptive Rights
    	
21
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.5
    	
Transfer   of Preemptive Rights
    	
22
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.6
    	
Excluded   Securities
    	
22
    
	
 
    	
 
    	
 
    	
 
    
	
5.
    	
MISCELLANEOUS
    	
23
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.1
    	
Governing   Law
    	
23
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.2
    	
Successors   and Assigns
    	
23
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.3
    	
Entire   Agreement
    	
23
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.4
    	
Severability
    	
23
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.5
    	
Amendment   and Waiver
    	
23
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.6
    	
Delays   or Omissions
    	
24
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.7
    	
Notices
    	
24
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.8
    	
Attorneys’   Fees
    	
24
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.9
    	
Titles   and Subtitles
    	
24
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.10
    	
Additional   Investors
    	
24
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.11
    	
Counterparts
    	
25
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.12
    	
Aggregation   of Stock
    	
25
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.13
    	
Pronouns
    	
25
    

 

ii

 

RALLY SOFTWARE DEVELOPMENT CORP.

 

FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

 

THIS FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (the “Agreement”) is entered into as of May 27, 2011, by and among RALLY SOFTWARE DEVELOPMENT CORP.,  a Delaware corporation (the “Company”) and the investors listed on Exhibit A hereto, referred to hereinafter as the “Investors” and each individually as an “Investor.”

 

RECITALS

 

WHEREAS, certain of the Investors are purchasers of shares of the Company’s Series E Preferred Stock (the “Series E Stock”) pursuant to that certain Series E Preferred Stock Purchase Agreement (the “Purchase Agreement”) of even date herewith (the “Financing”).

 

WHEREAS, certain of the Investors (the “Prior Investors”) are holders of the Company’s Series A-1  Preferred Stock (the “Series A-1 Stock”), Series B Preferred Stock (the “Stock B Stock”), Series C Preferred Stock (the “Series C Stock”) and Series D Preferred Stock (the “Series D Stock,” the Series A-1 Stock, Series B Stock, Series C Stock, Series D Stock and Series E Stock shall be referred to herein collectively as the “Preferred Stock”);

 

WHEREAS, the Prior Investors are parties to a Third Amended and Restated Investor Rights Agreement dated December 18, 2009 (the “Prior Agreement”);

 

WHEREAS, the parties to such Prior Agreement desire to amend and restate the Prior Agreement and to accept the rights and covenants hereof in lieu of their rights and covenants under the Prior Agreement; and

 

WHEREAS, in connection with the consummation of the Financing, the parties desire to enter into this Agreement in order to grant registration, information rights and other rights to the Investors as set forth below.

 

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree hereto as follows:

 

1.                                      GENERAL.

 

1.1                               Amendment and Restatement of Prior Agreement.  The Prior Agreement is hereby amended in its entirety and restated herein.  Such amendment and restatement is effective upon the execution of this Agreement by the Company and the holders of at least fifty-five percent (55%) of the Registrable Securities held by the Prior Investors outstanding as of the date of this Agreement.  Upon such execution, all provisions of, rights granted and covenants made in the Prior Agreement are hereby waived, released and superseded in their entirety and shall have no further force or effect, including, without limitation, all rights of first refusal and any notice period associated therewith otherwise applicable to the transactions contemplated by the

 

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Purchase Agreement.  As of the date hereof, the Prior Agreement shall be of no further force or effect.

 

1.2                               Definitions.  As used in this Agreement the following terms shall have the following respective meanings:

 

(a)                                  “Affiliate” means, with respect to an Investor, an “affiliate,” as defined in Rule 405 of Regulation C of the Securities Act, of such Investor.

 

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

 

(c)                                  “Form S-3”  means such form under the Securities Act as in effect on the date hereof or any successor or similar registration form under the Securities Act subsequently adopted by the SEC which permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with the SEC.

 

(d)                                  “Holder”  means any person owning of record Registrable Securities that have not been sold to the public or any assignee of record of such Registrable Securities in accordance with Section 2.10 hereof.

 

(e)                                  “Initial Offering”  means the Company’s first firm commitment underwritten public offering of its Common Stock registered under the Securities Act.

 

(f)                                    “Register,” “registered,” and “registration”  refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of effectiveness of such registration statement or document.

 

(g)                                 “Registrable Securities”  means (a) Common Stock of the Company issuable or issued upon conversion of the Shares and (b) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, such above-described securities. Notwithstanding the foregoing, Registrable Securities shall not include any securities (i) sold by a person to the public either pursuant to a registration statement or Rule 144, (ii) sold in a private transaction in which the transferor’s rights under Section 2 of this Agreement are not assigned or (iii) held by a Holder (together with its affiliates) if, as reflected on the Company’s list of stockholders, such Holder (together with its affiliates) holds less than one percent (1%) of the Company’s outstanding Common Stock (treating all shares of Preferred Stock on an as converted basis) and the Company has completed its Initial Offering and all shares of Common Stock of the Company issuable or issued upon conversion of the Shares held by and issuable to such Holder (and its affiliates) may be sold pursuant to Rule 144 during any ninety (90) day period.

 

(h)                                 “Registrable Securities then outstanding”  shall be the number of shares of the Company’s Common Stock that are Registrable Securities and either (a) are then issued and outstanding or (b) are issuable pursuant to then exercisable or convertible securities.

 

(i)                                    “Registration Expenses”  shall mean all expenses incurred by the Company in complying with Sections 2.2, 2.3 and 2.4 hereof, including, without limitation, all

 

2

 

registration and filing fees, printing expenses, accounting fees, fees and disbursements of counsel for the Company, reasonable fees and disbursements not to exceed fifty thousand dollars ($50,000)  of a single special counsel for the Holders (such special counsel to be selected by Holders of at least fifty five percent (55%) of the Registrable Securities proposed to be sold in the applicable registration), blue sky fees and expenses and the expense of any special audits incident to or required by any such registration (but excluding the compensation of regular employees of the Company which shall be paid in any event by the Company).

 

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

 

(k)                                “Securities Act”  shall mean the Securities Act of 1933, as amended.

 

(l)                                    “Selling Expenses”  shall mean all underwriting discounts and selling commissions applicable to the sale.

 

(m)                              “Shares”  shall mean the Company’s Series A-1 Stock, Series B Stock, Series C Stock, Series D Stock and Series E Stock held from time to time by the Investors listed on Exhibit A hereto and their permitted assigns.

 

(n)                                 “Special Registration Statement” shall mean (i) a registration statement relating to any employee benefit plan or (ii) with respect to any corporate reorganization or transaction under Rule 145 of the Securities Act, including any registration statements related to the issuance or resale of securities issued in such a transaction.

 

2.                                      REGISTRATION; RESTRICTIONS ON TRANSFER.

 

2.1                               Restrictions on Transfer.

 

(a)                                  Each Holder agrees not to make any disposition of all or any portion of the Shares or Registrable Securities unless and until:

 

(i)                                    there is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or

 

(ii)                                (A) the transferee has agreed in writing to be bound by the terms of this Agreement, (B) such Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and (C) if reasonably requested by the Company, such Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such shares under the Securities Act.  It is agreed that the Company will not require opinions of counsel for transactions made pursuant to Rule 144, except in unusual circumstances.  After its Initial Offering, the Company will not require the transferee to be bound by the terms of this Agreement.

 

(b)                                  Notwithstanding the provisions of subsection (a) above, no such restriction shall apply to a transfer by a Holder that is (A) a partnership or limited partnership transferring to

 

3

 

its Affiliates, partners, former partners, limited partners or former limited partners in accordance with partnership or limited partnership interests, (B) a corporation transferring to its Affiliates or a wholly-owned subsidiary or a parent corporation that owns all of the capital stock of the Holder, (C) a limited liability company transferring to its Affiliates, members or former members in accordance with their interest in the limited liability company, or (D) an individual transferring to the Holder’s family member or trust for the benefit of an individual Holder; provided  that in each case the transferee will agree in writing to be subject to the terms of this Agreement to the same extent as if such transferee were an original Holder hereunder.

 

(c)                                  Each certificate representing Shares or Registrable Securities shall be stamped or otherwise imprinted with legends substantially similar to the following (in addition to any legend required under applicable state securities laws):

 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.

 

THE SALE, PLEDGE, HYPOTHECATION OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT BY AND BETWEEN THE STOCKHOLDER AND THE COMPANY.  COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.

 

(d)                                  The Company shall be obligated to reissue promptly unlegended certificates at the request of any Holder thereof if the Company has completed its Initial Offering and the Holder shall have obtained an opinion of counsel (which counsel may be counsel to the Company) reasonably acceptable to the Company to the effect that the securities proposed to be disposed of may lawfully be so disposed of without registration, qualification and legend.

 

(e)                                  Any legend endorsed on an instrument pursuant to applicable state securities laws and the stop-transfer instructions with respect to such securities shall be removed upon receipt by the Company of an order of the appropriate blue sky authority authorizing such removal.

 

2.2                               Demand Registration.

 

(a)                                  Subject to the conditions of this Section 2.2, if the Company shall receive a written request from Holders (i) holding more than fifty percent (50%) of the Registrable Securities, or (ii) proposing to sell Registrable Securities with an anticipated aggregate offering price, net of underwriting discounts and commissions, of at least $5,000,000 (the “Initiating Holders”), that the Company file a registration statement under the Securities Act covering the

 

4

 

registration of such Registrable Securities, then the Company shall, within thirty (30) days of the receipt thereof, give written notice of such request to all Holders and, subject to the limitations of this Section 2.2, use its best efforts to effect, as expeditiously as reasonably possible, the registration under the Securities Act of all Registrable Securities that all Holders request to be registered within 20 days of the mailing of the Company’s notice pursuant to this Section 2.2(a).

 

(b)                                  If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to this Section 2.2 or any request pursuant to Section 2.4 and the Company shall include such information in the written notice referred to in Section 2.2(a) or Section 2.4(a), as applicable.  In such event, the right of any Holder to include its Registrable Securities in such registration shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein.  All Holders proposing to distribute their securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by at least fifty-five percent (55%) in interest of the Initiating Holders (which underwriter or underwriters shall be reasonably acceptable to the Company).  Notwithstanding any other provision of this Section 2.2 or Section 2.4, if the underwriter advises the Company that marketing factors require a limitation of the number of securities to be underwritten (including Registrable Securities) then the Company shall so advise all Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the number of shares that may be included in the underwriting shall be allocated to the Holders of such Registrable Securities on a pro rata basis based on the number of Registrable Securities held by all such Holders (including the Initiating Holders).  In no event shall any Registrable Securities be excluded from such offering unless all other stockholders’ securities have been first excluded.  Any Registrable Securities excluded or withdrawn from such underwriting shall be withdrawn from the registration.

 

(c)                                  The Company shall not be required to effect a registration pursuant to this Section 2.2:

 

(i)                                    prior to the second anniversary of the date of this Agreement;

 

(ii)                                after the Company has effected two (2) registrations pursuant to this Section 2.2, and such registrations have been declared or ordered effective;

 

(iii)                            during the period starting with the date of filing of, and ending on the date one hundred eighty (180) days following the effective date of the registration statement pertaining to the Company’s Initial Offering;

 

(iv)                               if, within thirty (30) days of receipt of a written request from Initiating Holders pursuant to Section 2.2(a), the Company gives notice to the Holders of the Company’s intention to file a registration statement for its Initial Offering  within ninety (90) days; provided that the Company is actively employing in good faith all commercially reasonable efforts to cause such registration statement to become effective;

 

5

 

(v)                                   if the Company shall furnish to Holders requesting a registration statement pursuant to this Section 2.2 a certificate signed by the Company’s President, Chief Executive Officer or Chairman of the Board stating that, in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company and its stockholders for such registration statement to be effected at such time, in which event the Company shall have the right to defer such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders; provided,  that, such right to delay a request shall be exercised by the Company not more than once in any twelve (12) month period and provided further that the Company shall  not register any securities for the account of itself or any other stockholder during such ninety (90) day period;

 

(vi)                               if the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to Section 2.4 below; or

 

(vii)                           in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance.

 

2.3                               Piggyback Registrations.  The Company shall notify all Holders of Registrable Securities in writing at least fifteen (15)  days prior to the filing of any registration statement under the Securities Act for purposes of a public offering of securities of the Company (including, but not limited to, registration statements relating to secondary offerings of securities of the Company, but excluding Special Registration Statements) and will afford each such Holder an opportunity to include in such registration statement all or part of such Registrable Securities held by such Holder.  Each Holder desiring to include in any such registration statement all or any part of the Registrable Securities held by it shall, within fifteen (15) days after the above-described notice from the Company, so notify the Company in writing.  Such notice shall state the intended method of disposition of the Registrable Securities by such Holder.    If a Holder decides not to include all of its Registrable Securities in any registration statement thereafter filed by the Company, such Holder shall nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement or registration statements as may be filed by the Company with respect to offerings of its securities, all upon the terms and conditions set forth herein.

 

(a)                                  Underwriting.  If the registration statement under which the Company gives notice under this Section 2.3 is for an underwritten offering, the Company shall so advise the Holders of Registrable Securities.  In such event, the right of any such Holder to be included in a registration pursuant to this Section 2.3 shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein.  All Holders proposing to distribute their Registrable Securities through such underwriting shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by the Company.  Notwithstanding any other provision of this Agreement, if the underwriter determines in good faith that marketing factors require a limitation of the number of shares to be underwritten in order to avoid jeopardizing the success of the offering, the number of shares that

 

6

 

may be included in the underwriting shall be allocated, first, to the Company; second, to the Holders, if any, invoking a demand registration on a pro rata basis based on the total number of Registrable Securities held by such Holders; third, to the other Holders on a pro rata basis based on the total number of Registrable Securities held by such other Holders; and fourth, to any stockholder of the Company (other than a Holder) on a pro rata basis; provided, however, that no such reduction shall reduce the amount of securities of the selling Holders included in the registration below thirty percent (30%) of the total amount of securities included in such registration, unless such offering is the Initial Offering and such registration does not include shares of any other selling stockholders, in which event any or all of the Registrable Securities of the Holders may be excluded in accordance with the immediately preceding clause.  In no event will shares of any other selling stockholder be included in such registration that would reduce the number of shares which may be included by Holders without the written consent of Holders of at least fifty five percent (55%) of the Registrable Securities proposed to be sold in the offering.  If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter, delivered at least ten (10) business days prior to the effective date of the registration statement.  Any Registrable Securities excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration.  For any Holder which is a venture capital fund, partnership or corporation, the partners, affiliated venture capital funds, retired partners and stockholders of such Holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of the foregoing person shall be deemed to be a single “Holder,” and any pro rata reduction with respect to such “Holder” shall be based upon the aggregate amount of shares carrying registration rights owned by all entities and individuals included in such “Holder,” as defined in this sentence.

 

(b)                                  Right to Terminate Registration.  The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.3 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration.  The Registration Expenses of such withdrawn registration shall be borne by the Company in accordance with Section 2.5 hereof.

 

2.4                               Form S-3 Registration.  In case the Company shall receive from any Holder or Holders of Registrable Securities a written request or requests that the Company effect a registration on Form S-3 (or any successor to Form S-3) or any similar short-form registration statement and any related qualification or compliance with respect to all or a part of the Registrable Securities owned by such Holder or Holders, the Company will:

 

(a)                                  promptly give written notice of the proposed registration, and any related qualification or compliance, to all other Holders of Registrable Securities; and

 

(b)                                  as soon as practicable, use its best efforts to effect such registration and all such qualifications and compliances as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holder’s or Holders’ Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any other Holder or Holders joining in such request as are specified in a written request given within fifteen (15) days after receipt of written notice from the Company; provided, however,

 

7

 

that the Company shall not be obligated to effect any such registration, qualification or compliance pursuant to this Section 2.4:

 

(i)                                    if Form S-3 is not available for such offering by the Holders, or

 

(ii)                                if the Holders, together with the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate price to the public of less than  $1,000,000, or

 

(iii)                            if the Company shall furnish to the Holders a certificate signed by the Chairman of the Board of Directors of the Company stating that, in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company and its stockholders for such Form S-3 registration to be effected at such time, in which event the Company shall have the right to defer the filing of the Form S-3 registration statement for a period of not more than ninety (90) days after receipt of the request of the Holder or Holders under this Section 2.4; provided  that such right to delay a request shall be exercised by the Company not more than once in any twelve (12) month period and provided further that the Company shall  not register any securities for the account of itself or any other stockholder during such ninety (90) day period (other than a registration relating solely to the sale of securities of participants in a Company stock plan, a registration relating to a corporate reorganization or transaction under Rule 145 of the Act, a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered), or

 

(iv)                               in any particular jurisdiction in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance.

 

(c)                                  subject to the foregoing, file a Form S-3 registration statement covering the Registrable Securities and other securities so requested to be registered as soon as practicable after receipt of the requests of the Holders.  Registrations effected pursuant to this Section 2.4 shall not be counted as demands for registration or registrations effected pursuant to Section 2.2.

 

2.5                               Expenses of Registration.  Except as specifically provided herein, all Registration Expenses incurred in connection with any registration, qualification or compliance pursuant to Section 2.2 or any registration under Section 2.3 or Section 2.4 herein shall be borne by the Company, irrespective of any exclusion, limitation or cut-back pursuant to Section 2.3(a) or otherwise, including the reasonable expenses of the special counsel to the selling Holders (such counsel to be selected by Holders of at least fifty five percent (55%) of the Registrable Securities proposed to be sold in the applicable registration), if applicable, not to exceed $50,000.  All Selling Expenses incurred in connection with any registrations hereunder, shall be borne by the holders of the securities so registered pro rata on the basis of the number of shares so registered.  The Company shall not, however, be required to pay for expenses of any

 

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registration proceeding begun pursuant to Section 2.2 or 2.4, the request of which has been subsequently withdrawn by the Initiating Holders unless (a) the withdrawal is based upon material adverse information concerning the Company of which the Initiating Holders were not aware at the time of such request or (b) the Holders of at least fifty-five percent (55%) of Registrable Securities agree to forfeit their right to one (1) requested registration pursuant to Section 2.2, in which event such right shall be forfeited by all Holders.  If the Holders are required to pay the Registration Expenses, such expenses shall be borne by the holders of securities (including Registrable Securities) requesting such registration in proportion to the number of shares for which registration was requested.  If the Company is required to pay the Registration Expenses of a withdrawn offering pursuant to clause (a) above, then the Holders shall not forfeit their rights pursuant to Section 2.2 to a demand registration.

 

2.6                               Obligations of the Company.  Whenever required to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible:

 

(a)                                  prepare and file with the SEC a registration statement with respect to such Registrable Securities and use all reasonable efforts to cause such registration statement to become effective, and, upon the request of the Holders of at least fifty-five percent (55%) of the Registrable Securities registered thereunder, keep such registration statement effective for up to one hundred twenty (120) days or, if earlier, until the Holder or Holders have completed the distribution related thereto; provided, however, that at any time, upon written notice to the participating Holders and for a period not to exceed forty-five (45) days thereafter (the “Suspension Period”), the Company may delay the filing or effectiveness of any registration statement or suspend the use or effectiveness of any registration statement (and the Initiating Holders hereby agree not to offer or sell any Registrable Securities pursuant to such registration statement during the Suspension Period) if the Company reasonably believes that the Company may, in the absence of such delay or suspension hereunder, be required under state or federal securities laws to disclose any corporate development the disclosure of which could reasonably be expected to have a material adverse effect upon the Company, its stockholders, a potentially significant transaction or event involving the Company, or any negotiations, discussions, or proposals directly relating thereto.  In the event that the Company shall exercise its right to delay or suspend the filing or effectiveness of a registration hereunder, the applicable time period during which the registration statement is to remain effective shall be extended by a period of time equal to the duration of the Suspension Period.  The Company may extend the Suspension Period for an additional consecutive sixty (60) days with the consent of the holders of at least fifty-five percent (55%) of the Registrable Securities registered under the applicable registration statement, which consent shall not be unreasonably withheld.  If so directed by the Company, all Holders registering shares under such registration statement shall use their best efforts to deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such Holders’ possession, of the prospectus relating to such Registrable Securities current at the time of receipt of such notice.  The Company shall not be required to file, cause to become effective or maintain the effectiveness of any registration statement that contemplates a distribution of securities on a delayed or continuous basis pursuant to Rule 415 under the Securities Act.

 

(b)                                  prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection with such registration statement as

 

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may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement for the period set forth in subsection (a) above.

 

(c)                                  furnish to the Holders such number of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them.

 

(d)                                  use its reasonable efforts to register and qualify the securities covered by such registration statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders; provided, that, the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions.

 

(e)                                  in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter(s) of such offering.  Each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement.

 

(f)                                    notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. The Company will use reasonable efforts to amend or supplement such prospectus in order to cause such prospectus not to include any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing.

 

(g)                                 furnish, on the date that such Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and (ii) a letter, dated as of such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering addressed to the underwriters.

 

(h)                                 cause all such Registrable Securities registered pursuant to this Section 2 to be listed on a national exchange or trading system and on each securities exchange and trading system on which similar securities issued by the Company are then listed.

 

(i)                                    provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration.

 

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2.7                               Termination of Registration Rights.  All registration rights granted under this Section 2 shall terminate and be of no further force and effect three (3) years after the date of the Company’s first Qualified Public Offering (as such term is defined in the Company’s Amended and Restated Certificate of Incorporation, as the same may be amended from time to time).

 

2.8                               Delay of Registration; Furnishing Information.

 

(a)                                  No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2.

 

(b)                                  It shall be a condition precedent to the obligations of the Company to take any action pursuant to Section 2.2, 2.3 or 2.4 that the selling Holders shall furnish to the Company such information regarding themselves, the Registrable Securities held by them and the intended method of disposition of such securities as shall be required to effect the registration of their Registrable Securities.

 

(c)                                  The Company shall have no obligation with respect to any registration that would otherwise be effected pursuant to Section 2.2 or Section 2.4 if, due to the operation of subsection 2.2(b), the anticipated aggregate offering price of the Registrable Securities to be included in the registration does not equal or exceed the anticipated aggregate offering price required to originally trigger the Company’s obligation to initiate such registration as specified in Section 2.2 or Section 2.4, whichever is applicable.

 

2.9                               Indemnification.  In the event any Registrable Securities are included in a registration statement under Sections 2.2, 2.3 or 2.4:

 

(a)                                  To the extent permitted by law, the Company will indemnify and hold harmless each Holder, the partners, members, officers and directors of each Holder, any underwriter (as defined in the Securities Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a “Violation”) by the Company: (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement or incorporated reference therein, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law in connection with the offering covered by such registration statement; and the Company will reimburse each such Holder, partner, member, officer, director, underwriter or controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity agreement contained in this Section 2.9(a) shall not apply to amounts paid in

 

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settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable in any such case for any such loss, claim, damage, liability or action to the extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by such Holder, partner, member, officer, director, underwriter or controlling person of such Holder.

 

(b)                                  To the extent permitted by law, each Holder will, if Registrable Securities held by such Holder are included in the securities as to which such registration qualifications or compliance is being effected, indemnify and hold harmless the Company, each of its directors, its officers and each person, if any, who controls the Company within the meaning of the Securities Act, any underwriter and any other Holder selling securities under such registration statement or any of such other Holder’s partners, members, directors or officers or any person who controls such Holder, against any losses, claims, damages or liabilities (joint or several) to which the Company or any such director, officer, controlling person, underwriter or other such Holder, or partner, member, director, officer or controlling person of such other Holder may become subject under the Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any of the following statements: (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement or incorporated reference therein, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act (collectively, a “Holder Violation”), in each case to the extent (and only to the extent) that such Holder Violation occurs in reliance upon and in conformity with written information furnished by such Holder under an instrument duly executed by such Holder and stated to be specifically for use in connection with such registration; and each such Holder will reimburse any legal or other expenses reasonably incurred by the Company or any such director, officer, controlling person, underwriter or other Holder, or partner, member, officer, director or controlling person of such other Holder in connection with investigating or defending any such loss, claim, damage, liability or action if it is judicially determined that there was such a Holder Violation; provided, however, that the indemnity agreement contained in this Section 2.9(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; provided further, that in no event shall any indemnity under this Section 2.9 exceed the net  proceeds from the offering received by such Holder.

 

(c)                                  Promptly after receipt by an indemnified party under this Section 2.9 of notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.9, deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party shall have the right to retain its own counsel, with the fees and

 

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expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding.  The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if materially prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.9 to the extent of such prejudice, but the omission so to deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.9.

 

(d)                                  If the indemnification provided for in this Section 2.9 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any losses, claims, damages or liabilities referred to herein, the indemnifying party, in lieu of indemnifying such indemnified party thereunder, shall to the extent permitted by applicable law contribute to the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the Violation(s) or Holder Violation(s) that resulted in such loss, claim, damage or liability, as well as any other relevant equitable considerations.  The relative fault of the indemnifying party and of the indemnified party shall be determined by a court of law by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission; provided that, in no event shall any contribution by a Holder hereunder, when combined with any amounts paid by such Holder pursuant to Section 2.9(b), exceed the net proceeds from the offering received by such Holder.

 

(e)                                  The obligations of the Company and Holders under this Section 2.9 shall survive completion of any offering of Registrable Securities in a registration statement and the termination of this Agreement.  No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation.

 

2.10                        Assignment of Registration Rights.  The rights to cause the Company to register Registrable Securities pursuant to this Section 2 may be assigned by a Holder to a transferee or assignee of Registrable Securities under the following circumstances:  (A) a partnership or limited partnership transferring to its partners, limited partners, former partners or former limited partners in accordance with partnership interests, (B) a corporation transferring to a wholly-owned subsidiary or a parent corporation that owns all of the capital stock of the Holder, (C) a limited liability company transferring to its members or former members in accordance with their interest in the limited liability company, (D) an individual transferring to the Holder’s family member or trust for the benefit of an individual, (E) a Holder transferring to an acquirer at least five hundred thousand (500,000)  shares of Registrable Securities (as adjusted for stock dividends, stock splits, combinations, recapitalization and the like), or (F) a Holder transferring to an entity affiliated by common control (or other related entity or fund) with such Holder;

 

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provided, however, (i) the transferor shall, within ten (10) days after such transfer, furnish to the Company written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned and (ii) such transferee shall agree to be subject to all restrictions set forth in this Agreement.

 

2.11                        Amendment of Registration Rights.  Notwithstanding anything in Section 5.5 to the contrary, any provision of this Section 2 may be amended and the observance thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Holders of at least fifty-five percent (55%) of the Registrable Securities then outstanding.  Any amendment or waiver effected in accordance with this Section 2.11 shall be binding upon each Holder and the Company.  By acceptance of any benefits under this Section 2, Holders of Registrable Securities hereby agree to be bound by the provisions hereunder.

 

2.12                        Limitation on Subsequent Registration Rights.  The Company shall not, without the prior written consent of the Holders of at least fifty-five percent (55%) of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company that would grant such holder registration rights on a parity with or senior to those granted to the Holders hereunder, other than the right to a Special Registration Statement.

 

2.13                        “Market Stand-Off” Agreement.  Each Holder hereby agrees that such Holder shall not sell, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any Common Stock (or other securities) of the Company held by such Holder (other than those included in the registration) for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred eighty (180) days following the effective date of a registration statement of the Company filed under the Securities Act (or such longer period, not to exceed sixteen (16) days after the expiration of the 180 day period, as the underwriters or the Company shall request in order to facilitate compliance with NASD Rule 2711 or NYSE Member Rule 472 or any successor or similar rule or regulation); provided, that:

 

(i)                                    such agreement shall apply only to the Company’s Initial Offering; and

 

(ii)                                all officers and directors of the Company and holders of at least one percent (1%) of the Company’s voting securities enter into similar one hundred eighty (180) day market stand-off agreements.

 

Each Holder agrees to execute and deliver such other agreements as may be reasonably requested by the Company and/or the managing underwriter(s) which are consistent with the foregoing or which are necessary to give further effect thereto.  In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to the shares of such Common Stock (or other securities) until the end of such period.  The underwriters of the Company’s stock are intended third party beneficiaries of this Section 2.13 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto.  Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the

 

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underwriters shall apply to all Holders subject to such agreements pro rata based on the number of shares subject to such agreements.

 

2.14                        Agreement to Furnish Information.  If requested by the Company or the representative of the underwriters of Common Stock (or other securities) of the Company, each Holder shall provide, within ten (10) days of such request, such non-confidential information as may be required by the Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant to a registration statement filed under the Securities Act (other than a Special Registration Statement).  Each Holder agrees that any transferee of any shares of Registrable Securities shall agree to be bound by Sections 2.13 and 2.14.

 

2.15                        Rule 144 Reporting.  With a view to making available to the Holders the benefits of certain rules and regulations of the SEC which may permit the sale of the Registrable Securities to the public without registration, or pursuant to a registration on Form S-3, the Company agrees to use its best efforts to:

 

(a)                                  Make and keep public information available, as those terms are understood and defined in SEC Rule 144 or any similar or analogous rule promulgated under the Securities Act, at all times after the effective date of the first registration filed by the Company for an offering of its securities to the general public;

 

(b)                                  File with the SEC, in a timely manner, all reports and other documents required of the Company under the Exchange Act; and

 

(c)                                  So long as a Holder owns any Registrable Securities, furnish to such Holder forthwith upon request:  a written statement by the Company as to its compliance with the reporting requirements of said Rule 144 of the Securities Act, and of the Exchange Act (at any time after it has become subject to such reporting requirements); a copy of the most recent annual or quarterly report of the Company filed with the SEC; and such other reports and documents as a Holder may reasonably request in connection with availing itself of any rule or regulation of the SEC allowing it to sell any such securities without registration.

 

3.                                      COVENANTS OF THE COMPANY.

 

3.1                               Basic Financial Information and Reporting.

 

(a)                                  The Company will maintain true books and records of account in which full and correct entries will be made of all its business transactions pursuant to a system of accounting established and administered in accordance with generally accepted accounting principles consistently applied (except as noted therein or as disclosed to the recipients thereof), and will set aside on its books all such proper accruals and reserves as shall be required under generally accepted accounting principles consistently applied.

 

(b)                                  As soon as practicable after the end of each fiscal year of the Company, and in any event within one hundred twenty (120) days thereafter (unless such period is extended by the Board of Directors of the Company, including at least three of the representatives designated by the Preferred Stock), the Company will furnish each Investor who is then a

 

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Holder: (i) an audited balance sheet of the Company, as at the end of such fiscal year, an audited statement of income and an audited statement of cash flows of the Company, for such year, all prepared in accordance with generally accepted accounting principles consistently applied (except as noted therein or as disclosed to the recipients thereof) and setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail, and accompanied by a report and opinion thereon by independent public accountants of national standing selected by the Company’s Board of Directors; and (ii) as soon as practicable after the end of the first, second and third quarterly accounting periods in each fiscal year of the Company, and in any event within forty-five (45) days thereafter, a balance sheet of the Company as of the end of each such quarterly period, and a statement of income and a  statement of cash flows of the Company for such period and for the current fiscal year to date, prepared in accordance with generally accepted accounting principles consistently applied (except as noted therein or as disclosed to the recipients thereof), with the exception that no notes need be attached to such statements and year-end audit adjustments may not have been made.

 

(c)                                  So long as an Investor (with its affiliates) shall own not less than one percent (1%) of the outstanding capital stock of the Company calculated on a fully diluted basis (assuming conversion of the Preferred Stock and the exercise of all outstanding options, warrants and other rights to acquire capital stock) (a “Fully Diluted Basis”) (a “Major Investor”), the Company will furnish each such Major Investor: (i) at least thirty (30) days prior to the beginning of each fiscal year an annual budget and operating plans for such fiscal year (and as soon as available, any subsequent written revisions thereto); and (ii) as soon as practicable after the end of each month, and in any event within twenty (20) days thereafter, a balance sheet of the Company as of the end of each such month, and a statement of income and a statement of cash flows of the Company for such month and for the current fiscal year to date, including a comparison to plan figures for such period, prepared in accordance with generally accepted accounting principles consistently applied (except as noted thereon), with the exception that no notes need be attached to such statements and year-end audit adjustments may not have been made.

 

3.2                               Inspection Rights.  Each Major Investor shall have the right to visit and inspect any of the properties of the Company or any of its subsidiaries, and to discuss the affairs, finances and accounts of the Company or any of its subsidiaries with its officers, and to review such information as is reasonably requested all at such reasonable times and as often as may be reasonably requested; provided, however, that the Company shall not be obligated under this Section 3.2 with respect to a direct competitor of the Company or with respect to information which the Board of Directors determines in good faith is highly confidential proprietary information or attorney-client privileged and should not, therefore, be disclosed provided further that under no circumstances shall any Major Investor be deemed a “competitor” as a result of such Major Investors’, or such Major Investors’ affiliates’, investment in any of such Major Investors’, or such Major Investors’ affiliates’, portfolio companies.

 

3.3                               Confidentiality of Records.  Each Investor agrees to use, and to use the same degree of care as such Investor uses to protect its own confidential information to keep confidential any information furnished to that the Company identifies as being confidential or proprietary (so long as such information is not in the public domain), except that such Investor may disclose such proprietary or confidential information (i) to any partner, subsidiary or parent

 

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of such Investor for the purpose of evaluating its investment in the Company as long as such partner, subsidiary or parent is advised of the confidentiality provisions of this Section 3.3; (ii) at such time as it enters the public domain through no fault of such investor (iii) as required by any court or other governmental body, provided that such Investor provides the Company with prompt notice of such court order or requirement to the Company to enable the Company to seek a protective order or otherwise to prevent or restrict such disclosure; (iv) to legal counsel, accountants or other similar advisors of such Holder; (v) in connection with the enforcement of this Agreement or rights under this Agreement; (vi) to comply with applicable law; (vii) that is communicated to it free of any obligation of confidentiality; or (viii) that is developed by Investor or its agents independently of and without reference to any confidential information communicated by the Company.  Notwithstanding anything in this Section 3.3 to the contrary, Vista Ventures Advantage, LP (and its successors and assigns) shall be permitted to disclose information regarding the Company to the Small Business Administration to the extent required to permit it to be in compliance with applicable laws, rules and regulations with its status as a Small Business Investment Company or with compliance with the Small Business Act.  Notwithstanding the foregoing, nothing in this Section 3.3 shall restrict the ability of any Investor that is a venture capital investor or an investment fund to disclose the existence and nature of its relationship with the Company to its affiliates, members or partners, or to provide its affiliates, members, limited partners or partners with periodic reports and such other financial information about the Company prepared by such Investor in the ordinary course of its business.

 

3.4                               Reservation of Common Stock.  The Company will at all times reserve and keep available, solely for issuance and delivery upon the conversion of the Preferred Stock, all Common Stock issuable from time to time upon such conversion.

 

3.5                               Stock Vesting; Acceleration.  Unless otherwise approved by the Board of Directors (including at least three of the representatives designated by the Preferred Stock), all stock options and other stock equivalents issued after the date of this Agreement to employees, directors, consultants or other service providers shall (i) be subject to vesting as follows: (a) twenty-five percent (25%) of such stock shall vest at the end of the first year following the earlier of the date of issuance and such person’s services commencement date with the Company, and (b) seventy-five percent (75%) of such stock shall vest monthly over the remaining three (3) years and (ii) a market stand-off agreement in all material respects in the form described in Section 2.13 hereof.  With respect to any shares of stock purchased by any such person, the Company’s repurchase option shall provide that upon such person’s termination of employment or service with the Company, with or without cause, the Company or its assignee (to the extent permissible under applicable securities laws) shall have the option to purchase at the lower of cost or the then-current fair market value any unvested shares of stock held by such person.  No stock option grant, restricted stock grant or other security subject to vesting that the Company issues to any officer, employee or consultant shall contain vesting acceleration upon the occurrence or closing of an Acquisition or Asset Transfer (each as defined in the Company’s Certificate of Incorporation as in effect on the date hereof) or upon the occasion or occurrence of any other event without such acceleration terms being specifically approved by the Board of Directors (including at least three of the representatives designated by the Preferred Stock).

 

3.6                               Expenses; Compensation.  The Company shall reimburse the reasonable out-of-pocket travel expenses of each director, the observers appointed by any Investor pursuant to

 

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Section 3.12 below, and any other observer or advisor designated by a Major Investor with the written consent the Company, incurred in connection with attendance at meetings of the Board of Directors or any committee thereof.

 

3.7                               Proprietary Information and Inventions Agreement.  The Company shall require all employees and consultants to execute and deliver a Proprietary Information and Inventions Agreement in all material respects in a form approved by the Company’s counsel.

 

3.8                               Directors’ Liability and Indemnification.  The Company’s Amended and Restated Certificate of Incorporation and Bylaws shall provide (a) for elimination of the liability of director to the maximum extent permitted by law and (b) for indemnification of directors for acts on behalf of the Company to the maximum extent permitted by law.  The Company shall obtain and maintain director and officer insurance in amounts typical for its industry as determined by its Board of Directors at all times unless otherwise directed by the Board.

 

3.9                               Auditors.  The Company shall engage an accounting firm of national recognition acceptable to the Board of Directors, including the affirmative vote of at least three of the representatives designated by the Preferred Stock, to perform an annual audit of the Company’s financial statements.

 

3.10                        Qualified Small Business.  For so long as any shares of Series A Stock are held by an Investor (or permitted transferee) in whose hands such shares are eligible to qualify as “qualified small business stock” as defined in Section 1202(c) of the Internal Revenue Code of 1986, as amended (the “Code”), the Company shall use its commercially reasonable efforts to cause its capital stock (collectively, the “Eligible Shares”), to constitute “qualified small business stock”; provided, however, that such requirement shall not be applicable if the Board of Directors of the Company determines, in its good faith business judgment, that such qualification is inconsistent with the best interests of the Company.  The Company shall submit to its stockholders (including the Investors) and to the Internal Revenue Service any reports that may be required under Section 1202(d)(1)(C) of the Code and the regulations promulgated thereunder.  In addition, within twenty (20) business days after any Investor’s written request therefor, the Company shall, at its option, either (i) deliver to such Investor a written statement indicating whether (and what portion of) such Investor’s interest in the Company constitutes “qualified small business stock” as defined in Section 1202(c) of the Code or (ii) deliver to such Investor such factual information in the Company’s possession as is reasonably necessary to enable such Investor to determine whether (and what portion of) such Investor’s interest in the Company constitutes “qualified small business stock” as defined in Section 1202(c) of the Code.

 

3.11                        Observer Rights.  For so long as Ryan Martens continues to hold capital stock of the Company, the Company shall allow Mr. Martens to attend all meetings of the Company’s Board of Directors in a nonvoting capacity.  For so long as Mobius Technology Ventures VI L.P. or its affiliated funds or entities (“MVC”) continues to hold not less than five percent (5%) of the capital stock of the Company calculated on a Fully Diluted Basis, the Company shall allow one representative designated by MVC to attend all meetings of the Company’s Board of Directors in a nonvoting capacity.  For so long as Boulder Ventures IV, L.P. or its affiliated funds or entities (“Boulder”) continues to hold not less than five percent (5%) of the capital stock of the Company calculated on a Fully Diluted Basis, the Company shall allow one representative

 

18

 

designated by Boulder to attend all meetings of the Company’s Board of Directors in a nonvoting capacity.  For so long as Vista Ventures Advantage LP or its affiliated funds or entities (“Vista”) continues to hold not less than five percent (5%) of the capital stock of the Company calculated on a Fully Diluted Basis (assuming conversion of the Preferred Stock and the exercise of all outstanding options, warrants and other rights to acquire capital stock), the Company shall allow one representative designated by Vista to attend all meetings of the Company’s Board of Directors in a nonvoting capacity; provided, however, that such representative must be either Lisa Reeves or Kirk Holland.  For so long as Mohr, Davidow Ventures or its affiliated funds or entities (“MDV”) continues to hold not less than five percent (5%) of the capital stock of the Company calculated on a Fully Diluted Basis, the Company shall allow one representative designated by MDV to attend all meetings of the Company’s Board of Directors in a nonvoting capacity.  For so long as Greylock VIII Limited Partnership or its affiliated funds or entities (“Greylock”) continues to hold not less than five percent (5%) of the capital stock of the Company calculated on a Fully Diluted Basis, the Company shall allow one representative designated by Greylock to attend all meetings of the Company’s Board of Directors in a nonvoting capacity.  For so long as Meritech Capital Partners IV L.P. or its affiliated funds or entities (“Meritech”) continues to hold not less than fifty percent (50%) of the shares of Series E Stock purchased by Meritech pursuant to the Purchase Agreement, the Company shall allow one representative designated by Meritech to attend all meetings of the Company’s Board of Directors in a nonvoting capacity, including executive sessions and meetings of committees of the Board (the “Meritech Attendance Right”).  In connection therewith, the Company shall give each such representative copies of all notices, minutes, consents and other materials, financial or otherwise (including but not limited to full reports of independent third-party valuation firms for purposes of compliance with Section 409A of the Internal Revenue Code), which the Company provides to its Board of Directors (together with the Meritech Attendance Right, the “Meritech Observer Right”); provided, however, that the Company reserves the right to exclude any such representative from access to any material or meeting or portion thereof if the Company believes in good faith upon advice of outside legal counsel that such exclusion is reasonably necessary to preserve the attorney-client privilege or protect highly confidential proprietary information.  The decision of the Board with respect to the privileged or confidential nature of such information shall be final and binding.  The portion of this Section 3.11 related to the Meritech Observer Right may be amended, or any provision thereof waived, either prospectively or retrospectively, only with the prior written consent of Major Investors holding at least sixty percent (60%) of the shares of Series E Stock held by all Major Investors.

 

3.12                        Voting Agreement.  The recipient of all grants of stock options, restricted stock grants and similar equity grants, and all other issuances of the Company’s Equity Securities (as defined below), in each case following the date hereof, as a condition to the receipt of shares of capital stock of the Company, will be made subject to the provisions in the Fourth Amended and Restated Voting Agreement among the Company and the Investors, dated this date, as the same may be amended or replaced from time to time (the “Voting Agreement”).  The Investors are intended third-party beneficiaries of any such contract or agreement and shall have the right to cause the Company to enforce its rights under any contract or agreement with any third party with respect to the Voting Agreement, as a condition to the receipt of shares of capital stock of the Company.

 

19

 

3.13                        Board Approval.  So long as at least fifteen percent (15%) of the shares of Series E Stock originally issued pursuant to the Purchase Agreement remain outstanding, the Company shall not without the approval of a majority of the Board of Directors, including the approval of at least three of the representatives designated by the Preferred Stock, (i) enter into or be a party to any transaction with any director, officer or employee of the Company or any “associate” (as defined in Rule 12b-2 promulgated under the Exchange Act) of any such person except transactions resulting in payments to or by the Company in an amount less than $60,000 per year, or transactions made in the ordinary course of business and pursuant to reasonable requirements of the Company’s business and upon fair and reasonable terms that are approved by a majority of the Board, or (ii) materially change the principal business of the Company.

 

3.14                        Certain Covenants Relating to SBA Matters.

 

(a)                                  Use of Proceeds.  The proceeds from the issuance and sale of the Series E Stock pursuant to the Purchase Agreement (the “Proceeds”) shall be used by the Company for its growth, modernization or expansion.  The Company shall provide each Investor which is a licensed Small Business Investment Company (an “SBIC Investor”) and the Small Business Administration (the “SBA”) reasonable access to the Company’s books and records for the purpose of confirming the use of Proceeds.

 

(b)                                  Business Activity.  For a period of one year following the Closing under the Purchase Agreement the Company shall not change the nature of its business activity if such change would render the Company ineligible as provided in 13 C.F.R. Section 107.720.

 

(c)                                  Compliance.  So long as any SBIC Investor holds any securities of the Company, the Company will at all times comply with the non-discrimination requirements of 13 C.F.R. Parts 112, 113 and 117.

 

(d)                                  Information for SBIC Investor.  Within forty five (45) days after the end of each fiscal year and at such other times as an SBIC Investor may reasonably request, the Company shall deliver to such SBIC Investor a written assessment, in form and substance satisfactory to such SBIC Investor, of the economic impact of such SBIC Investor’s financing specifying the full-time equivalent jobs created or retained in connection with such investment, and the impact of the financing on the Company’s business in terms of profits and on taxes paid by the Company and its employees.  Upon request, the Company agrees to promptly provide each SBIC Investor with sufficient information to permit such Investor to comply with their obligations under the Small Business Investment Act of 1958, as amended, and the regulations promulgated thereunder and related thereto; provided, however, each SBIC Investor agrees that it will protect any information which the Company labels as confidential to the extent permitted by law.  Any submission of any financial information under this Section shall include a certificate of the Company’s president, chief executive officer, treasurer or chief financial officer.

 

(e)                                  Number of Holders of Voting Securities.  So long as any SBIC Investor holds any securities purchased pursuant to the Purchase Agreement or issued by the Company with respect thereto, the Company shall notify each SBIC Investor (i) at least fifteen (15) days prior to taking any action after which the number of record holders of the Company’s voting securities would be increased from fewer than fifty (50) to fifty (50) or more, and (ii) of any

 

20

 

other action or occurrence after which the number of record holders of the Company’s voting securities was increased (or would increase) from fewer than fifty (50) to fifty (50) or more, as soon as practicable after the Company becomes aware that such other action or occurrence has occurred or is proposed to occur.

 

3.15                        Termination of Covenants.  All covenants of the Company contained in Section 3 of this Agreement (other than the provisions of Section 3.3)  shall expire and terminate as to each Investor upon the earlier of (i) the effective date of the registration statement pertaining to the Initial Offering, which results in the Preferred Stock being converted into Common Stock pursuant to the Company’s Certificate of Incorporation,  or (ii) the closing of an Acquisition or Asset Transfer (each as defined in the Company’s Amended and Restated Certificate of Incorporation as in effect on the date hereof).

 

4.                                      PREEMPTIVE RIGHTS.

 

4.1                               Subsequent Offerings.  Subject to applicable securities laws, each Major Investor shall have a the right to purchase its pro rata share of all Equity Securities, as defined below, that the Company may, from time to time, propose to sell and issue after the date of this Agreement, other than the Equity Securities excluded by Section 4.6 hereof.  Each Major Investor’s pro rata share is equal to the ratio of (a) the number of shares of the Company’s Common Stock (including all shares of Common Stock issuable or issued upon conversion of the Shares) of which such Major Investor is deemed to be a holder immediately prior to the issuance of such Equity Securities to (b) the total number of shares of the Company’s outstanding Common Stock (including all shares of Common Stock issued or issuable upon conversion of the Shares or upon the exercise of any outstanding warrants or options) immediately prior to the issuance of the Equity Securities.  The term “Equity Securities” shall mean (i) any Common Stock, Preferred Stock or other security of the Company, (ii) any security convertible into or exercisable or exchangeable for, with or without consideration, any Common Stock, Preferred Stock or other security (including any option to purchase such a convertible security), (iii) any security carrying any warrant or right to subscribe to or purchase any Common Stock, Preferred Stock or other security or (iv) any such warrant or right.

 

4.2                               Exercise of Rights.  If the Company proposes to issue any Equity Securities, it shall give each Major  Investor written notice of its intention, describing the Equity Securities, the price and the terms and conditions upon which the Company proposes to issue the same.  Each Major Investor shall have twenty (20)  business  days from the giving of such notice to agree to purchase its pro rata share of the Equity Securities for the price and upon the terms and conditions specified in the notice by giving written notice to the Company and stating therein the quantity of Equity Securities to be purchased.  Notwithstanding the foregoing, the Company shall not be required to offer or sell such Equity Securities to any Major Investor who would cause the Company to be in violation of applicable federal securities laws by virtue of such offer or sale.

 

4.3                               Issuance of Equity Securities to Other Persons.  If not all of the Major Investors elect to purchase their pro rata share of the Equity Securities, then the Company shall promptly notify in writing the Major Investors who do so elect (the “Participating Investors”) and shall offer such Major Investors the right to acquire its pro rata share of such unsubscribed

 

21

 

shares.  The Participating Investors shall have five (5) business days after receipt of such notice to notify the Company of its election to purchase all or a portion thereof of such unsubscribed shares.  Each Participating Investor’s pro rata share is equal to the ratio of (a) the number of shares of the Company’s Common Stock (including all shares of Common Stock issuable or issued upon conversion of the Shares) which such Participating Investor is deemed to be a holder immediately prior to the issuance of such Equity Securities to (b) the number of shares of the Company’s Common Stock (including all shares of Common Stock issuable or issued upon conversion of the Shares) which all such Participating Investors electing to purchase a portion of such unsubscribed shares are deemed to be holders immediately prior to the issuance of such Equity Securities.  If the Major Investors fail to exercise in full the preemptive rights set forth in this Section 4, the Company shall have ninety (90) days thereafter to sell the Equity Securities in respect of which the Major Investor’s rights were not exercised, at a price and upon general terms and conditions no more favorable to the purchasers thereof than specified in the Company’s notice to the Major Investors pursuant to Section 4.2 hereof.  If the Company has not sold such Equity Securities within ninety (90) days of the notice provided pursuant to Section 4.2, the Company shall not thereafter issue or sell any Equity Securities, without first offering such securities to the Major Investors in the manner provided above.

 

4.4                               Termination and Waiver of Preemptive Rights.

 

(a)                                  The preemptive rights established by this Section 4 shall not apply to, and shall terminate upon the earlier of (i) the Company’s first Qualified Public Offering (as such term is defined in the Company’s Amended and Restated Certificate of Incorporation, as amended) and (ii) the closing of an Acquisition or Asset Transfer (each as defined in the Company’s Amended and Restated Certificate of Incorporation as in effect on the date hereof).  The preemptive rights established by this Section 4 may be amended, or any provision waived, either prospectively or retrospectively, only with the prior written consent of Major Investors holding at least fifty-five percent (55%) of the Registrable Securities held by all Major Investors; provided that Section 4.4(b) may be amended, or any provision thereof waived, either prospectively or retrospectively, only with the prior written consent of Major Investors holding at least sixty percent (60%) of the shares of Series E Stock held by all Major Investors.

 

(b)                                  In the event that the preemptive rights established by this  Section 4 are waived pursuant to Section 4.4(a) hereof with respect to an issuance of Equity Securities by the Company, and any Major Investor that consented to such waiver pursuant to Section 4.4(a) (a “Waiving Major Investor”) is nevertheless permitted to purchase any such Equity Securities,  each Major Investor shall be entitled to purchase, within 30 days of receiving notice of the initial issuance of Equity Securities to any Waiving Major Investor(s), its Adjusted Pro Rata Share (as defined below) of such New Securities upon the terms and conditions set forth in this Section 4.  For purposes of this Section 4.4(b), a Major Investor’s “Adjusted Pro Rata Share” of the Equity Securities subject to the waiver described herein shall be equal to (i) such Major Investor’s pro rata share (as defined in Section 4.1(a)) of such New Securities multiplied by (ii) the highest percentage (up to 100%) of any Waiving Major Investor’s Pro Rata Share that such Waiving Major Investor is permitted to purchase.  For example, if only one Waiving Major Investor is permitted to purchase any Equity Securities and it is permitted to purchase 50% of its pro rata share of the Equity Securities, each Waiving Major Investor’s Adjusted Pro Rata Share shall be 50% of its pro rata share.  For another example, if one Waiving Major Investor is permitted to

 

22

 

purchase 60% of its pro rata share and another Waiving Major Investor is permitted to purchase 110% of its pro rata share, each Waiving Major Investor’s Adjusted Pro Rata Share shall be 100% of its pro rata share.

 

4.5                               Transfer of Preemptive Rights.  The preemptive rights of each Major Investor under this Section 4 may be transferred to the same parties, subject to the same restrictions as any transfer of registration rights pursuant to Section 2.10.

 

4.6                               Excluded Securities.  The preemptive rights established by this Section 4 shall have no application to the issuance of any of the following Equity Securities:

 

(a)                                  shares of Common Stock issued upon conversion of shares of the Company’s Preferred Stock;

 

(b)                                  shares of Common Stock and/or options, warrants or other Common Stock purchase rights and the Common Stock issued pursuant to such options, warrants or other rights issued or to be issued after the Series E Original Issue Date (as defined in the Company’s Certificate of Incorporation) to employees, officers or directors of, or consultants or advisors to the Company or any subsidiary for the primary purpose of soliciting or retaining their services and pursuant to stock purchase or stock option plans or other arrangements that are approved by the Board of Directors, including the affirmative vote of at least three of the representatives designated by the Preferred Stock;

 

(c)                                  stock issued or issuable pursuant to any rights or agreements, options, warrants or convertible securities outstanding as of the date of this Agreement; and stock issued pursuant to any such rights or agreements granted after the date of this Agreement, so long as the preemptive rights established by this Section 4 were complied with or were inapplicable pursuant to any provision of this Section 4.6 with respect to the initial sale or grant by the Company of such rights or agreements;

 

(d)                                  any Equity Securities issued for consideration other than primarily cash pursuant to a merger, consolidation, acquisition, strategic transaction (including joint ventures, manufacturing, marketing or distribution arrangements or technology transfer or development arrangements) or similar business combination provided  that the issuance of shares in connection therewith has been approved by the Company’s Board of Directors, including the affirmative vote of at least three of the representatives designated by the Preferred Stock.

 

(e)                                  any Equity Securities issued pursuant to any equipment loan or leasing arrangement, real property leasing arrangement, or debt financing from a bank or similar financial or lending institution approved by the Board of Directors, including the affirmative vote of at least three of the representatives designated by the Preferred Stock;

 

(f)                                    shares of Common Stock issued in connection with any stock split, stock dividend, reclassification or similar non-economic event by the Company;

 

(g)                                 any Equity Securities that are issued by the Company pursuant to a registration statement filed under the Securities Act;

 

23

 

(h)                                 any Equity Securities issued in connection with strategic transactions involving the Company and other entities, including (i) joint ventures, manufacturing, marketing or distribution arrangements or (ii) technology transfer or development arrangements; provided  that the issuance of shares in connection therewith has been approved by the Company’s Board of Directors, including the affirmative vote of at least three of the representatives designated by the Preferred Stock.

 

5.                                      MISCELLANEOUS.

 

5.1                               Governing Law.  This Agreement shall be governed by and construed under the laws of the State of Delaware in all respects as such laws are applied to agreements among Delaware residents entered into and to be performed entirely within Delaware.

 

5.2                               Successors and Assigns.  Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the parties hereto and their respective successors, assigns, heirs, executors, and administrators and shall inure to the benefit of and be enforceable by each person who shall be a holder of Registrable Securities from time to time; provided, however, that prior to the receipt by the Company of adequate written notice of the transfer of any Registrable Securities specifying the full name and address of the transferee, the Company may deem and treat the person listed as the holder of such shares in its records as the absolute owner and holder of such shares for all purposes, including the payment of dividends or any redemption price.

 

5.3                               Entire Agreement.  This Agreement, the exhibits and Schedules hereto, the Purchase Agreement and the other documents delivered pursuant thereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and no party shall be liable or bound to any other in any manner by any oral or written representations, warranties, covenants and agreements except as specifically set forth herein and therein.  Each party expressly represents and warrants that it is not relying on any oral or written representations, warranties, covenants or agreements outside of this Agreement.

 

5.4                               Severability.  In the event one or more of the provisions of this Agreement should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.

 

5.5                               Amendment and Waiver.

 

(a)                                  Except as otherwise expressly provided, and subject to Sections 3.11 and 4.4, this Agreement may be amended or modified, either prospectively or retrospectively and either in general or with respect to any particular matter, only upon the written consent of the Company and the holders of at least fifty-five percent (55%) of the Registrable Securities then outstanding.

 

(b)                                  Except as otherwise expressly provided, and subject to Sections 3.11 and 4.4, the obligations of the Company and the rights of the Holders under this Agreement may be waived, either prospectively or retrospectively and either in general or with respect to any

 

24

 

particular matter, only with the written consent of the holders of at least fifty-five percent (55%) of the Registrable Securities then outstanding.

 

(c)                                  For the purposes of determining the number of Holders or Investors entitled to vote or exercise any rights hereunder, the Company shall be entitled to rely solely on the list of record holders of its stock as maintained by or on behalf of the Company.

 

(d)                                  In addition to the foregoing approval requirements, any amendment materially and adversely changing the rights or obligations of any Investor in a manner different from any other Investor shall require the written consent of such Investor.

 

5.6                               Delays or Omissions.  It is agreed that no delay or omission to exercise any right, power, or remedy accruing to any party, upon any breach, default or noncompliance by another party under this Agreement shall impair any such right, power, or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar breach, default or noncompliance thereafter occurring.  It is further agreed that any waiver, permit, consent, or approval of any kind or character on any party’s part of any breach, default or noncompliance under the Agreement or any waiver on such party’s part of any provisions or conditions of this Agreement must be in writing and shall be effective only to the extent specifically set forth in such writing.  All remedies, either under this Agreement, by law, or otherwise afforded to any party, shall be cumulative and not alternative.

 

5.7                               Notices.  All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day, (c) five (5) business days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt.  All communications shall be sent to the party to be notified at the address as set forth on the signature pages hereof or Exhibit A hereto or at such other address or electronic mail address as such party may designate by ten (10) days advance written notice to the other parties hereto.

 

5.8                               Attorneys’ Fees.  In the event that any suit or action is instituted under or in relation to this Agreement, including without limitation to enforce any provision in this Agreement, the prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this Agreement, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals.

 

5.9                               Titles and Subtitles.  The titles of the sections and subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement..

 

5.10                        Additional Investors.  Notwithstanding anything to the contrary contained herein, if the Company shall issue additional shares of its Preferred Stock pursuant to the Purchase Agreement, any purchaser of such shares of Preferred Stock shall become a party to this Agreement by executing and delivering an additional counterpart signature page to this

 

25

 

Agreement and shall be deemed an “Investor,” a “Holder” and a party hereunder.  Notwithstanding anything to the contrary contained herein, if the Company shall issue Equity Securities that are shares of Series E Stock in accordance with Sections 4.6 (c), (f) or (h) of this Agreement, any purchaser of such Equity Securities may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement and shall be deemed an “Investor,” a “Holder” and a party hereunder.

 

5.11                        Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument.

 

5.12                        Aggregation of Stock.  All shares of Registrable Securities held or acquired by affiliated entities or persons or persons or entities under common management or control shall be aggregated together for the purpose of determining the availability of any rights under this Agreement.

 

5.13                        Pronouns.  All pronouns contained herein, and any variations thereof, shall be deemed to refer to the masculine, feminine or neutral, singular or plural, as to the identity of the parties hereto may require.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

26

 

IN WITNESS WHEREOF, the parties hereto have executed this FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT as of the date set forth in the first paragraph hereof.

 

 

	
 
    	
COMPANY:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
RALLY SOFTWARE DEVELOPMENT CORP.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/Timothy   A. Miller
    
	
 
    	
 
    	
Timothy A. Miller
    
	
 
    	
 
    	
President and Chief Executive Officer
    

 

SIGNATURE PAGE TO INVESTOR RIGHTS AGREEMENT

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
MERITECH   CAPITAL PARTNERS IV L.P.
    
	
 
    	
 
    
	
 
    	
By: Meritech Capital Associates IV L.L.C.
    
	
 
    	
its General Partner
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/Robert   D. Ward
    
	
 
    	
 
    	
Robert   D. Ward, a managing member
    
	
 
    	
 
    
	
 
    	
MERITECH   CAPITAL AFFILIATES IV L.P.
    
	
 
    	
 
    
	
 
    	
By: Meritech Capital Associates IV L.L.C.
    
	
 
    	
its General Partner
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/Robert   D. Ward
    
	
 
    	
 
    	
Robert   D. Ward, a managing member
    
	
 
    	
 
    
	
 
    	
Address:
    
	
 
    	
 
    
	
 
    	
245   Lytton Avenue, Suite 350
    
	
 
    	
Palo   Alto, CA 94301
    
	
 
    	
Attn:   Joel Backman
    
	
 
    	
phone:   (650) 475-2200
    
	
 
    	
fax:   (650) 475-2222
    
				

 

SIGNATURE PAGE TO INVESTOR RIGHTS AGREEMENT

 

 

	
 
    	
INVESTORS:
    
	
 
    	
 
    
	
 
    	
GREYLOCK XIII LIMITED PARTNERSHIP
    
	
 
    	
GREYLOCK XIII-A LIMITED PARTNERSHIP
    
	
 
    	
 
    
	
 
    	
By:
    	
Greylock   XIII GP LLC, its General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Donald   A. Sullivan
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Donald   A. Sullivan
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Administrative   Partner
    
	
 
    	
 
    
	
 
    	
GREYLOCK XIII PRINCIPALS LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
Greylock   Management Corporation, Sole Member
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/Donald   A. Sullivan
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Donald   A. Sullivan
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Vice   President and Treasurer
    

 

SIGNATURE PAGE TO INVESTOR RIGHTS AGREEMENT

 

 

	
 
    	
MDV IX, L.P., AS NOMINEE FOR,
    
	
 
    	
MDV IX, L.P. AND MDV ENF IX, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
Ninth   MDV, L.L.C., as General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Paul   B. Cleveland
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Paul   B. Cleveland
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Administrative   Member
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
VISTA VENTURES ADVANTAGE, LP
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Pinyon   Capital Management, LLC,
    
	
 
    	
 
    	
its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Catharine   M. Merigold
    
	
 
    	
 
    	
Catharine   M. Merigold, General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
MOBIUS TECHNOLOGY VENTURES VI,   L.P.
    
	
 
    	
SOFTBANK U.S. VENTURES VI L.P.
    
	
 
    	
MOBIUS TECHNOLOGY VENTURES   ADVISORS FUND VI L.P.
    
	
 
    	
MOBIUS TECHNOLOGY VENTURES SIDE FUND VI L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Mobius   VI LLC, their General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Bradley   Feld 
    
	
 
    	
 
    	
Bradley   Feld, Managing Director
    

 

SIGNATURE PAGE TO INVESTOR RIGHTS AGREEMENT

 

 

	
 
    	
BOULDER VENTURES V, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
BV   Partners V, L.L.C.,
    
	
 
    	
 
    	
their   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
BOULDER VENTURES IV, L.P.
    
	
 
    	
BOULDER VENTURES IV (ANNEX),   L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
BV   Partners IV, L.L.C.,
    
	
 
    	
 
    	
their   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Peter   A. Roshko
    
	
 
    	
 
    	
Peter   A. Roshko, Managing Member
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
RYAN   MARTENS AND WYNN MARTENS, JWTROS
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Ryan   Martens
    
	
 
    	
 
    	
Ryan   Martens
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Wynn   Martens
    
	
 
    	
 
    	
Wynn   Martens
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
TIMOTHY   A. MILLER AND JERRI L. MILLER, TC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Timothy   A. Miller
    
	
 
    	
 
    	
Timothy   A. Miller
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Jerri   L. Miller
    
	
 
    	
 
    	
Jerri   L. Miller
    

 

SIGNATURE PAGE TO INVESTOR RIGHTS AGREEMENT

 

 

	
 
    	
STERLING   TRUST, CUSTODIAN FBO: TIMOTHY A. MILLER, A/C # 402553
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Timothy   A. Miller
    
	
 
    	
Name:   
    	
Timothy   A. Miller
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
STERLING   TRUST, CUSTODIAN FBO: JERRI L. MILLER, A/C # 402554
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Jerri   L. Miller
    
	
 
    	
Name:   
    	
Jerri   L. Miller
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
/s/Don   Hazell
    
	
 
    	
DON HAZELL
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
/s/James   M. Lejeal
    
	
 
    	
JAMES   M. LEJEAL
    

 

SIGNATURE PAGE TO INVESTOR RIGHTS AGREEMENT

 

 

EXHIBIT A

SCHEDULE OF INVESTORS

 

	
MERITECH   CAPITAL PARTNERS IV L.P.  
    MERITECH CAPITAL AFFILIATES IV L.P.  
    
    GREYLOCK XIII LIMITED PARTNERSHIP    
    GREYLOCK XIII-A LIMITED PARTNERSHIP    
    GREYLOCK XIII PRINCIPALS LLC  
    
    MDV IX,   L.P., AS NOMINEE FOR,  
    MDV IX L.P.   AND MDV ENF IX, L.P.  
    
    VISTA VENTURES ADVANTAGE, L.P.  
    
    BOULDER VENTURES V, L.P.  
    BOULDER VENTURES IV, L.P.  
    BOULDER VENTURES (ANNEX) IV, L.P. 
    
    RYAN MARTENS AND WYNN MARTENS, 
   JTWROS 
    	
TED W. AND NANCY J. MARTENS, 
    
    TIMOTHY A. MILLER
    TIMOTHY A. MILLER & JERRI MILLER,   TC

    STERLING TRUST, CUSTODIAN FBO:  
   TIMOTHY A. MILLER
    
   STERLING TRUST, CUSTODIAN FBO:  
   JERRI L. MILLER

    DEAN A. LEFFINGWELL
    
    DON HAZELL
    
    MOBIUS TECHNOLOGY VENTURES 
   SIDE FUND VI, L.P.

MOBIUS   TECHNOLOGY VENTURES 
   ADVISORS FUND VI, L.P.

SOFTBANK   U.S. VENTURES VI, L.P.

MOBIUS   TECHNOLOGY VENTURES VI, L.P.

    

 

 

	
GC&H INVESTMENTS, LLC 

    	
 
    
	
JARED S. POLIS  

    	
 
    
	
JAMES M. LEJEAL  

    	
 
    
	
KIRK B. BEARDSLEY AND CAROL M. 
   BEARDSLEY  

    	
 
    
	
MARK T. CARGES AND CAROL T. 
   CARGES, JTWROS 

    	
 
    
	
STEVEN D. MILLER  

    	
 
    
	
JOHN C. LUNDEEN  

    	
 
    
	
CHAD VARRA  

    	
 
    
	
SCOTT MAXWELL

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00214-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00214-of-00352.parquet"}]]