Document:

Exhibit 4.1

 

VARONIS SYSTEMS, INC. 

 

INDENTURE

 

Dated as of , 20

 

[Trustee]

 

Trustee

  

     

     

    

 

TABLE OF CONTENTS

  

	 	Page
	 	 
	Article I DEFINITIONS AND INCORPORATION BY REFERENCE	1
	Section 1.1	Definitions	1
	Section 1.2	Other Definitions	4
	Section 1.3	Incorporation by Reference of Trust Indenture Act	5
	Section 1.4	Rules of Construction	5
	 	 	 
	Article II THE SECURITIES	6
	Section 2.1	Issuable in Series	6
	Section 2.2	Establishment of Terms of Series of Securities.	6
	Section 2.3	Execution and Authentication	9
	Section 2.4	Registrar and Paying Agent.	10
	Section 2.5	Paying Agent to Hold Money in Trust	10
	Section 2.6	Securityholder Lists	11
	Section 2.7	Transfer and Exchange	11
	Section 2.8	Mutilated, Destroyed, Lost and Stolen Securities	12
	Section 2.9	Outstanding Securities	12
	Section 2.10	Treasury Securities	13
	Section 2.11	Temporary Securities.	13
	Section 2.12	Cancellation.	13
	Section 2.13	Defaulted Interest.	14
	Section 2.14	Global Securities.	14
	Section 2.15	CUSIP Numbers.	15
	 	 	 
	Article III REDEMPTION	16
	Section 3.1	Notice to Trustee.	16
	Section 3.2	Selection of Securities to be Redeemed.	16
	Section 3.3	Notice of Redemption.	16
	Section 3.4	Effect of Notice of Redemption.	17
	Section 3.5	Deposit of Redemption Price.	17
	Section 3.6	Securities Redeemed in Part.	18
	 	 	 
	Article IV COVENANTS	18
	Section 4.1	Payment of Principal and Interest.	18
	Section 4.2	SEC Reports.	18
	Section 4.3	Compliance Certificate.	18
	Section 4.4	Stay, Extension and Usury Laws.	19
	 	 	 
	Article V SUCCESSORS	19
	Section 5.1	When Company May Merge, Etc.	19
	Section 5.2	Successor Corporation Substituted.	20
	 	 	 
	Article VI DEFAULTS AND REMEDIES	20
	Section 6.1	Events of Default.	20

 

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	Section 6.2	Acceleration of Maturity; Rescission and Annulment.	21
	Section 6.3	Collection of Indebtedness and Suits for Enforcement by Trustee.	22
	Section 6.4	Trustee May File Proofs of Claim.	23
	Section 6.5	Trustee May Enforce Claims Without Possession of Securities.	23
	Section 6.6	Application of Money Collected.	24
	Section 6.7	Limitation on Suits.	24
	Section 6.8	Unconditional Right of Holders to Receive Principal and Interest.	25
	Section 6.9	Restoration of Rights and Remedies.	25
	Section 6.10	Rights and Remedies Cumulative.	25
	Section 6.11	Delay or Omission Not Waiver.	25
	Section 6.12	Control by Holders.	26
	Section 6.13	Waiver of Past Defaults.	26
	Section 6.14	Undertaking for Costs.	27
	 	 	 
	Article VII TRUSTEE	27
	Section 7.1	Duties of Trustee.	27
	Section 7.2	Rights of Trustee.	28
	Section 7.3	Individual Rights of Trustee.	29
	Section 7.4	Trustee’s Disclaimer.	30
	Section 7.5	Notice of Defaults.	30
	Section 7.6	Reports by Trustee to Holders.	30
	Section 7.7	Compensation and Indemnity.	30
	Section 7.8	Replacement of Trustee.	31
	Section 7.9	Successor Trustee by Merger, Etc.	32
	Section 7.10	Eligibility; Disqualification.	32
	Section 7.11	Preferential Collection of Claims Against Company.	33
	 	 	 
	Article VIII SATISFACTION AND DISCHARGE; DEFEASANCE	33
	Section 8.1	Satisfaction and Discharge of Indenture.	33
	Section 8.2	Application of Trust Funds; Indemnification.	34
	Section 8.3	Legal Defeasance of Securities of any Series.	34
	Section 8.4	Covenant Defeasance.	36
	Section 8.5	Repayment to Company.	37
	Section 8.6	Reinstatement.	37
	 	 	 
	Article IX AMENDMENTS AND WAIVERS	38
	Section 9.1	Without Consent of Holders.	38
	Section 9.2	With Consent of Holders.	38
	Section 9.3	Limitations.	39
	Section 9.4	Compliance with Trust Indenture Act.	39
	Section 9.5	Revocation and Effect of Consents.	40
	Section 9.6	Notation on or Exchange of Securities.	40
	Section 9.7	Trustee Protected.	40
	 	 	 
	Article X MISCELLANEOUS	41
	Section 10.1	Trust Indenture Act Controls.	41
	Section 10.2	Notices.	41

 

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	Section 10.3	Communication by Holders with Other Holders.	42
	Section 10.4	Certificate and Opinion as to Conditions Precedent.	42
	Section 10.5	Statements Required in Certificate or Opinion.	42
	Section 10.6	Rules by Trustee and Agents.	43
	Section 10.7	Legal Holidays.	43
	Section 10.8	No Recourse Against Others.	43
	Section 10.9	Counterparts.	43
	Section 10.10	Governing Law; Waiver of Jury Trial; Consent to Jurisdiction.	44
	Section 10.11	No Adverse Interpretation of Other Agreements.	44
	Section 10.12	Successors.	44
	Section 10.13	Severability.	44
	Section 10.14	Table of Contents, Headings, Etc.	44
	Section 10.15	Securities in a Foreign Currency.	45
	Section 10.16	Judgment Currency.	45
	Section 10.17	Force Majeure.	46
	Section 10.18	U.S.A. Patriot Act.	46
	 	 	 
	Article XI SINKING FUNDS	46
	Section 11.1	Applicability of Article.	46
	Section 11.2	Satisfaction of Sinking Fund Payments with Securities.	47
	Section 11.3	Redemption of Securities for Sinking Fund.	47

 

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VARONIS SYSTEMS,
INC.

 

Reconciliation and tie between Trust Indenture
Act of 1939 and

Indenture, dated as of , 20

 

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

 

     

     

    

 

Indenture dated as
of      , 20      between Varonis Systems, Inc., a company incorporated under the laws of
Delaware (“Company”), and [Trustee] (“Trustee”).

 

Each party agrees as follows for the benefit
of the other party and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture.

 

Article I

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.1 Definitions.

 

“Additional
Amounts” means any additional amounts which are required hereby or by any Security, under circumstances specified herein
or therein, to be paid by the Company in respect of certain taxes imposed on Holders specified herein or therein and which are
owing to such Holders.

 

“Affiliate”
of any specified person means any other person directly or indirectly controlling or controlled by or under common control with
such specified person. For the purposes of this definition, “control” (including, with correlative meanings, the terms
“controlled by” and “under common control with”), as used with respect to any person, shall mean the possession,
directly or indirectly, of the power to direct or cause the direction of the management or policies of such person, whether through
the ownership of voting securities or by agreement or otherwise.

 

“Agent”
means any Registrar, Paying Agent or Notice Agent.

 

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

 

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

 

“Business Day”
means, unless otherwise provided by supplemental indenture hereto, any day except a Saturday, Sunday or a legal holiday in The
City of New York, New York (or in connection with any payment, the place of payment) on which banking institutions are authorized
or required by law, regulation or executive order to close.

 

“Capital Stock”
means any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock.

 

“Company”
means the party named as such above until a successor replaces it and thereafter means the successor. “Company Order”
means a written order signed in the name of the Company by an Officer.

 

“Corporate Trust
Office” means the office of the Trustee at which at any particular time its corporate trust business related to this
Indenture shall be principally administered.

 

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

 

“Depositary”
means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of one or more Global Securities,
the person designated as Depositary for such Series by the Company, which Depositary shall be a clearing agency registered under
the Exchange Act; and if at any time there is more than one such person, “Depositary” as used with respect to
the Securities of any Series shall mean the Depositary with respect to the Securities of such Series.

 

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

 

“Dollars”
and “$” means the currency of The United States of America. “Exchange Act” means the Securities
Exchange Act of 1934, as amended.

 

“Foreign Currency”
means any currency or currency unit issued by a government other than the government of The United States of America.

 

“Foreign Government
Obligations” means, with respect to Securities of any Series that are denominated in a Foreign Currency, direct obligations
of, or obligations guaranteed by, the government that issued or caused to be issued such currency for the payment of which obligations
its full faith and credit is pledged and which are not callable or redeemable at the option of the issuer thereof.

 

“GAAP”
means accounting principles generally accepted in the United States of America set forth in the opinions and pronouncements of
the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of
the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant
segment of the accounting profession, which are in effect as of the date of determination.

 

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

 

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

 

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

 

“interest”
with respect to any Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity.

 

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

 

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“Officer”
means the Chairman of the Board of Directors, the Chief Executive Officer, President, the Chief Financial Officer, the Treasurer
or any Assistant Treasurer, the Secretary or any Assistant Secretary, any Executive Vice President, any Senior Vice President and
any Vice President of the Company.

 

“Officer’s
Certificate” means a certificate signed by any Officer.

 

“Opinion of
Counsel” means a written opinion of legal counsel who is acceptable to the Trustee. The counsel may be an employee of
or counsel to the Company. The opinion may contain customary limitations, conditions and exceptions.

 

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

 

“principal”
of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in
respect of, the Security.

 

“Responsible
Officer” means any officer of the Trustee in its Corporate Trust Office having responsibility for administration of this
Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom any corporate trust matter
is referred because of his or her knowledge of and familiarity with a particular subject.

 

“SEC”
means the U.S. Securities and Exchange Commission.

 

“Securities”
means the debentures, notes or other debt instruments of the Company of any Series authenticated and delivered under this Indenture.

 

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

 

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

 

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

 

“Subsidiary”
of any specified person means any corporation, association or other business entity of which more than 50% of the total voting
power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors,
managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such person or one or more of the other
Subsidiaries of that person or a combination thereof.

 

“TIA”
means the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as in effect on the date of this Indenture;
provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA”
means, to the extent required by any such amendment, the Trust Indenture Act as so amended.

 

    3

     

    

 

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

 

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

 

Section 1.1

 

Section 1.2 Other Definitions.

 

	TERM	DEFINED IN 

SECTION
	“Bankruptcy Law”	6.1
	“Custodian”	6.1
	“Event of Default”	6.1
	“Judgment Currency” 	10.16
	“Legal Holiday”	10.7
	“mandatory sinking fund payment”	11.1
	“New York Banking Day”	10.16
	“Notice Agent”	2.4
	“optional sinking fund payment”	11.1
	“Paying Agent”	2.4
	“Registrar”	2.4
	“Required Currency”	10.16
	“Specified Courts”	10.10
	“successor person”	5.1

 

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Section 1.1 

 

Section 1.2 

 

Section 1.3 Incorporation
by Reference of Trust Indenture Act.

 

Whenever this Indenture
refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following
TIA terms used in this Indenture have the following meanings:

 

“Commission”
means the SEC.

 

“indenture securities”
means the Securities.

 

“indenture security
holder” means a Securityholder.

 

“indenture to
be qualified” means this Indenture.

 

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

 

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

 

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

 

Section 1.1 

 

Section 1.2 

 

Section 1.3 

 

Section 1.4 Rules of
Construction.

 

Unless the context otherwise
requires:

 

		a)	a term has the meaning assigned to it;

 

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

 

		c)	“or” is not exclusive;

 

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

 

		e)	provisions apply to successive events and transactions.

 

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Article II

THE SECURITIES

 

Section 2.1 Issuable
in Series.

 

The aggregate principal amount of Securities that may be authenticated
and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of a Series
shall be identical except as may be set forth or determined in the manner provided in a Board Resolution, a supplemental indenture
or an Officer’s Certificate detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution.
In the case of Securities of a Series to be issued from time to time, the Board Resolution, Officer’s Certificate or supplemental
indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the
method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are
to be determined. Securities may differ between Series in respect of any matters, provided that all Series of Securities shall
be equally and ratably entitled to the benefits of the Indenture.

 

Section 2.1 

 

Section 2.2 Establishment
of Terms of Series of Securities.

  

At or prior to the issuance of any Securities within a Series,
the following shall be established (as to the Series generally, in the case of Subsection 2.2.1 and either as to such Securities
within the Series or as to the Series generally in the case of Subsections 2.2.2 through 2.2.23) by or pursuant to a Board Resolution,
and set forth or determined in the manner provided in a Board Resolution, supplemental indenture hereto or Officer’s Certificate:

 

2.2.1 the title (which
shall distinguish the Securities of that particular Series from the Securities of any other Series) and ranking (including the
terms of any subordination provisions) of the Series;

 

2.2.2 if the price (expressed
as a percentage of the aggregate principal amount thereof) at which such Securities will be issued is a price other than the principal
amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration of the maturity thereof, or
if applicable, the portion of the principal amount of such Securities that is convertible into another security or the method by
which any such portion shall be determined;

 

2.2.3 any limit upon
the aggregate principal amount of the Securities of the Series which may be authenticated and delivered under this Indenture (except
for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities
of the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6);

 

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2.2.4 the date or dates
on which the principal of the Securities of the Series is payable;

 

2.2.5 the rate or rates
(which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates (including, but not
limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall
bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or dates on which such interest,
if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date;

 

2.2.6 the place or
places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the Securities of such
Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect
of the Securities of such Series and this Indenture may be delivered, and the method of such payment, if by wire transfer, mail
or other means;

 

2.2.7 if applicable,
the period or periods within which, the price or prices at which and the terms and conditions upon which the Securities of the
Series may be redeemed, converted or exchanged, in whole or in part, at the option of the Company;

 

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

 

2.2.9 the dates, if
any, on which and the price or prices at which the Securities of the Series will be repurchased by the Company at the option of
the Holders thereof and other detailed terms and provisions of such repurchase obligations;

 

2.2.10 if other than
denominations of $1,000 and any integral multiple thereof, the denominations in which the Securities of the Series shall be issuable;

 

2.2.11 the forms of
the Securities of the Series and whether the Securities of the series shall be issued in whole or in part in the form of a Global
Security or Securities; the terms and conditions, if any, upon which such Global Security or Securities may be exchanged in
whole or in part for other individual Securities; and the Depositary for such Global Security or Securities; whether
the Securities of the series shall be issued in whole or in part in the form of a Global Security or Securities; the terms
and conditions, if any, upon which such Global Security or Securities may be exchanged in whole or in part for other individual
Securities; and the Depositary for such Global Security or Securities;

 

2.2.12 if other than
the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall be payable upon declaration
of acceleration of the maturity thereof pursuant to Section 6.2;

 

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2.2.13 the currency
of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, and if such currency of denomination
is a composite currency, the agency or organization, if any, responsible for overseeing such composite currency;

 

2.2.14 the designation
of the currency, currencies or currency units in which payment of the principal of and interest, if any, on the Securities of the
Series will be made;

 

2.2.15 if payments
of principal of or interest, if any, on the Securities of the Series are to be made in one or more currencies or currency units
other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect to such payments
will be determined;

 

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

 

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

 

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

 

2.2.19 any addition
to, deletion of or change in the covenants set forth in Articles IV or V which applies to Securities of the Series;

 

2.2.20 any Depositaries,
interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities of such Series if
other than those appointed herein;

 

2.2.21 whether the
Securities will be convertible into or exchangeable for shares of common stock, preferred stock or other securities of the Company
or any other Person and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, including
the conversion or exchange price, as applicable, or how it will be calculated and may be adjusted, any mandatory or optional (at
the Company’s option or the holders’ option) conversion or exchange features, and the applicable conversion or exchange
period;

 

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

 

2.2.23 whether any
of the Company’s direct or indirect Subsidiaries will guarantee the Securities of that Series, including the terms of subordination,
if any, of such guarantees.

 

    8

     

    

 

All Securities of any one Series need not be issued at the same
time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board
Resolution, supplemental indenture hereto or Officer’s Certificate referred to above.

 

Section 2.3 Execution
and Authentication.

 

An Officer shall sign the Securities for the Company by manual,
electronic or facsimile signature.

 

If an Officer whose signature is on a Security no longer holds
that office at the time the Security is authenticated, the Security shall nevertheless be valid.

 

A Security shall not be valid until authenticated by the manual
signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated
under this Indenture.

 

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

 

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

 

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

 

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

 

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

 

    9

     

    

 

Section 2.4 Registrar
and Paying Agent.

  

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

 

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

 

Section 2.5 Paying
Agent to Hold Money in
Trust.

 

The Company shall require each Paying Agent other than the Trustee
to agree in writing that the Paying Agent will hold in trust, for the benefit of Securityholders of any Series of Securities, or
the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series of Securities, and will
notify the Trustee in writing of any default by the Company in making any such payment. While any such default continues, the Trustee
may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay
all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary
of the Company) shall have no further liability for the money. If the Company or a Subsidiary of the Company acts as Paying Agent,
it shall segregate and hold in a separate trust fund for the benefit of Securityholders of any Series of Securities all money held
by it as Paying Agent. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall
serve as Paying Agent for the Securities.

 

    10

     

    

 

Section 2.6 Securityholder
Lists.

 

The Trustee shall preserve in as current a form as is reasonably
practicable the most recent list available to it of the names and addresses of Securityholders of each Series of Securities and
shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at
least ten days before each interest payment date and at such other times as the Trustee may request in writing a list, in such
form and as of such date as the Trustee may reasonably require, of the names and addresses of Securityholders of each Series of
Securities.

 

Section 2.7 Transfer
and Exchange.

 

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

 

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

 

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Section 2.8 Mutilated,
Destroyed, Lost and Stolen Securities.

 

If any mutilated Security is surrendered to the Trustee, the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same Series and
of like tenor and principal amount and bearing a number not contemporaneously outstanding.

 

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

 

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

 

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

 

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

 

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

  

Section 2.9 Outstanding
Securities.

 

The Securities outstanding at any time are all the Securities
authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest
on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as not
outstanding.

 

If a Security is replaced pursuant to Section 2.8, it ceases
to be outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser.

 

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

 

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The Company may purchase or otherwise acquire the Securities,
whether by open market purchases, negotiated transactions or otherwise. A Security does not cease to be outstanding because the
Company or an Affiliate of the Company holds the Security (but see Section 2.10 below).

 

In determining whether the Holders of the requisite principal
amount of outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder,
the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the
principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the
Maturity thereof pursuant to Section 6.2.

 

Section 2.10 Treasury
Securities.

 

In determining whether the Holders of the required principal
amount of Securities of a Series have concurred in any request, demand, authorization, direction, notice, consent or waiver, Securities
of a Series owned by the Company or any Affiliate of the Company shall be disregarded, except that for the purposes of determining
whether the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver
only Securities of a Series that a Responsible Officer of the Trustee knows are so owned shall be so disregarded.

 

Section 2.11 Temporary
Securities.

 

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

 

Section 2.12 Cancellation.

 

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

 

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Section 2.13 Defaulted
Interest.

 

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

  

Section 2.14 Global
Securities.

 

2.14.1 Terms of Securities. A Board Resolution, a supplemental
indenture hereto or an Officer’s Certificate shall establish whether the Securities of a Series shall be issued in whole
or in part in the form of one or more Global Securities and the Depositary for such Global Security or Securities.

 

2.14.2 Transfer and Exchange. Notwithstanding any provisions
to the contrary contained in Section 2.7 of the Indenture and in addition thereto, any Global Security shall be exchangeable pursuant
to Section 2.7 of the Indenture for Securities registered in the names of Holders other than the Depositary for such Security or
its nominee only if (i) such Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such
Global Security or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either
case, the Company fails to appoint a successor Depositary registered as a clearing agency under the Exchange Act within 90 days
of such event or (ii) the Company executes and delivers to the Trustee an Officer’s Certificate to the effect that such Global
Security shall be so exchangeable. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable
for Securities registered in such names as the Depositary shall direct in writing in an aggregate principal amount equal to the
principal amount of the Global Security with like tenor and terms.

 

Except as provided in this Section 2.14.2, a Global Security
may not be transferred except as a whole by the Depositary with respect to such Global Security to a nominee of such Depositary,
by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary or any such nominee
to a successor Depositary or a nominee of such a successor Depositary.

 

2.14.3 Legends. Any Global Security issued hereunder shall bear
a legend in substantially the following form:

 

“THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING
OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS SECURITY
IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY,
BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE
TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH A SUCCESSOR DEPOSITARY.”

 

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In addition, so long as the Depository Trust Company (“DTC”)
is the Depositary, each Global Note registered in the name of DTC or its nominee shall bear a legend in substantially the following
form:

 

“UNLESS THIS GLOBAL NOTE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY GLOBAL NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”

 

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

 

2.14.5 Payments. Notwithstanding
the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.2, payment of the principal of
and interest, if any, on any Global Security shall be made to the Holder thereof.

 

2.14.6 Consents, Declaration
and Directions. The Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount of outstanding
Securities of such Series represented by a Global Security as shall be specified in a written statement of the Depositary or by
the applicable procedures of such Depositary with respect to such Global Security, for purposes of obtaining any consents, declarations,
waivers or directions required to be given by the Holders pursuant to this Indenture.

 

Section 2.15 CUSIP
Numbers.

 

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

 

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Article III

REDEMPTION

 

Section 3.1 Notice
to Trustee.

 

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

 

Section 3.2 Selection
of Securities to be Redeemed.

 

Unless otherwise indicated for a particular Series by a Board
Resolution, a supplemental indenture hereto or an Officer’s Certificate, if less than all the Securities of a Series are
to be redeemed, the Securities of the Series to be redeemed will be selected as follows: (a) if the Securities are in the form
of Global Securities, in accordance with the procedures of the Depositary, (b) if the Securities are listed on any national securities
exchange, in compliance with the requirements of the principal national securities exchange, if any, on which the Securities are
listed, or (c) if not otherwise provided for under clause (a) or (b), in the manner that the Trustee deems fair and appropriate,
including by lot or other method, unless otherwise required by law or applicable stock exchange requirements, subject, in the case
of Global Securities, to the applicable rules and procedures of the Depositary. The Securities to be redeemed shall be selected
from Securities of the Series outstanding not previously called for redemption. Portions of the principal of Securities of the
Series that have denominations larger than $1,000 may be selected for redemption. Securities of the Series and portions of them
it selected for redemption shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to Securities of any Series
issuable in other denominations pursuant to Section 2.2.10, the minimum principal denomination for each Series and the authorized
integral multiples thereof. Provisions of this Indenture that apply to Securities of a Series called for redemption also apply
to portions of Securities of that Series called for redemption.

 

Section 3.3 Notice
of Redemption.

 

Unless otherwise indicated for a particular Series by Board
Resolution, a supplemental indenture hereto or an Officer’s Certificate, at least 15 days but not more than 60 days before
a redemption date, the Company shall send or cause to be sent by first-class mail or electronically, in accordance with the procedures
of the Depositary, a notice of redemption to each Holder whose Securities are to be redeemed.

 

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

 

		a)	the redemption date;

 

		b)	the redemption price;

 

		c)	the name and address of the Paying Agent;

 

		d)	if any Securities are being redeemed in part, the portion of the principal amount of such Securities
to be redeemed and that, after the redemption date and upon surrender of such Security, a new Security or Securities in principal
amount equal to the unredeemed portion of the original Security shall be issued in the name of the Holder thereof upon cancellation
of the original Security;

 

		e)	that Securities of the Series called for redemption must be surrendered to the Paying Agent to
collect the redemption price;

 

		f)	that interest on Securities of the Series called for redemption ceases to accrue on and after the
redemption date unless the Company defaults in the deposit of the redemption price;

 

		g)	the CUSIP number, if any; and

 

		h)	any other information as may be required by the terms of the particular Series or the Securities
of a Series being redeemed.

 

At the Company’s request, the Trustee shall give the notice
of redemption in the Company’s name and at its expense, provided, however, that the Company has delivered to the Trustee,
at least 10 days (unless a shorter time shall be acceptable to the Trustee) prior to the notice date, an Officer’s Certificate
requesting that the Trustee give such notice and setting forth the information to be stated in such notice.

 

Any redemption and notice thereof may, in the Company’s
discretion, be subject to the satisfaction of one or more conditions precedent.

 

Section 3.4 Effect
of Notice of Redemption.

 

Once notice of redemption is sent as provided in Section 3.3,
Securities of a Series called for redemption become, subject to any conditions precedent set forth in the notice of redemption,
due and payable on the redemption date and at the redemption price. Upon surrender to the Paying Agent, such Securities shall be
paid at the redemption price plus accrued interest to the redemption date.

 

Section 3.5 Deposit
of Redemption Price.

 

On or before 11:00 a.m., New York City time, on the redemption
date, the Company shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if
any, on all Securities to be redeemed on that date.

 

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Section 3.6 Securities
Redeemed in Part.

 

Upon surrender of a Security that is redeemed in part, the Trustee
shall authenticate for the Holder a new Security of the same Series and the same maturity equal in principal amount to the unredeemed
portion of the Security surrendered.

 

Article IV

COVENANTS

 

Section 4.1 Payment
of Principal and Interest.

 

The Company covenants and agrees for the benefit of the Holders
of each Series of Securities that it will duly and punctually pay the principal of and interest, if any, on the Securities of that
Series in accordance with the terms of such Securities and this Indenture. On or before 11:00 a.m., New York City time, on the
applicable payment date, the Company shall deposit with the Paying Agent money sufficient to pay the principal of and interest,
if any, on the Securities of each Series in accordance with the terms of such Securities and this Indenture.

 

Section 4.2 SEC
Reports.

 

To the extent any Securities of a Series are outstanding, the
Company shall deliver to the Trustee within 15 days after it files them with the SEC copies of the annual reports and of the information,
documents, and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe)
which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company also shall
comply with the other provisions of TIA § 314(a). Reports, information and documents filed with the SEC via the EDGAR system
will be deemed to be delivered to the Trustee as of the time of such filing via EDGAR for purposes of this Section 4.2.

 

Delivery of reports, information and documents to the Trustee
under this Section 4.2 are for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute
constructive or actual notice of any information contained therein or determinable from information contained therein, including
the Company’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on
Officer’s Certificates).

 

Section 4.3 Compliance
Certificate.

 

To the extent any Securities of a Series are outstanding, the
Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officer’s Certificate
stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under
the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled
its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of
his/her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and
is not in default in the performance or observance of any of the terms, provisions and conditions hereof (or, if a Default or Event
of Default shall have occurred, describing all such Defaults or Events of Default of which the Officer may have knowledge).

 

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Section 4.4 Stay,
Extension and Usury Laws.

 

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

 

Article V

SUCCESSORS

 

Section 5.1 When
Company May Merge, Etc.

 

The Company shall not consolidate with or merge with or into,
or convey, transfer or lease all or substantially all of its properties and assets to, any person (a “successor person”)
unless:

 

		a)	the Company is the surviving corporation or the successor person (if other than the Company) is a corporation organized and
validly existing under the laws of any U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the
Securities and under this Indenture;

 

		b)	immediately after giving effect to the transaction, no Default or Event of Default, shall have occurred and be continuing;
and

 

in the event that the Securities of any series then outstanding
are convertible into or exchangeable for shares of common stock or other securities of the Company, such entity shall, by such
supplemental indenture, make provision so that the Securityholders of Securities of that series shall thereafter be entitled to
receive upon conversion or exchange of such Securities the number of securities or property to which a holder of the number of
shares of common stock or other securities of the Company deliverable upon conversion or exchange of those Securities would have
been entitled had such conversion or exchange occurred immediately prior to such consolidation, merger, sale, conveyance, transfer
or other disposition.

 

The Company shall deliver to the Trustee prior to the consummation
of the proposed transaction an Officer’s Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed
transaction and any supplemental indenture comply with this Indenture.

 

Notwithstanding the above, any Subsidiary of the Company may
consolidate with, merge into or transfer all or part of its properties to the Company. Neither an Officer’s Certificate nor
an Opinion of Counsel shall be required to be delivered in connection therewith.

 

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Section 5.2 Successor
Corporation Substituted.

 

Upon any consolidation or merger, or any sale, lease, conveyance
or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.1, the successor corporation
formed by such consolidation or into or with which the Company is merged or to which such sale, lease, conveyance or other disposition
is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with
the same effect as if such successor person has been named as the Company herein; provided, however, that the predecessor
Company in the case of a sale, conveyance or other disposition (other than a lease) shall be released from all obligations and
covenants under this Indenture and the Securities.

 

Article VI

DEFAULTS AND REMEDIES

 

Section 6.1 Events
of Default.

 

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

 

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

 

		b)	default in the payment of principal of any Security of that Series at its Maturity and such default continues for a period
of 10 days; or

 

		c)	default in the performance or breach of any covenant or warranty of the Company in this Indenture (other than defaults pursuant
to paragraphs (a) or (b) above or pursuant to a covenant or warranty that has been included in this Indenture solely for the benefit
of Series of Securities other than that Series), which default continues uncured for a period of 60 days after there has been given,
by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25%
in principal amount of the outstanding Securities of that Series a written notice specifying such default or breach and requiring
it to be remedied and stating that such notice is a “Notice of Default” hereunder; or

 

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		d)	the Company pursuant to or within the meaning of any Bankruptcy Law:

 

(i) commences
a voluntary case,

 

(ii) consents
to the entry of an order for relief against it in an involuntary case,

 

(iii) consents
to the appointment of a Custodian of it or for all or substantially all of its property,

 

(iv) makes
a general assignment for the benefit of its creditors, or

 

(v) generally
is unable to pay its debts as the same become due; or

 

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

 

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

 

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

 

(iii) orders
the liquidation of the Company,

 

and the order or decree remains unstayed
and in effect for 90 days; or

 

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

 

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

 

Section 6.2 Acceleration
of Maturity; Rescission and Annulment.

 

If an Event of Default with respect to Securities of any Series
at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.1(d) or (e)) then in
every such case the Trustee or the Holders of not less than 25% in principal amount of the outstanding Securities of that Series
may declare the principal amount (or, if any Securities of that Series are Discount Securities, such portion of the principal amount
as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities of that
Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon
any such declaration such principal amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately
due and payable. If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified amount)
of and accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto become and be immediately due and payable
without any declaration or other act on the part of the Trustee or any Holder.

 

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At any time after such a declaration of acceleration with respect
to any Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter
in this Article provided, the Holders of a majority in principal amount of the outstanding Securities of that Series, by written
notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if all Events of Default with
respect to Securities of that Series, other than the non-payment of the principal and interest, if any, of Securities of that Series
which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13.

 

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

 

Section 6.3 Collection
of Indebtedness and Suits for Enforcement by Trustee.

 

The Company covenants that if

 

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

 

		b)	default is made in the payment of principal of any Security at the Maturity thereof and such default continues for a period
of 10 days, or

 

		c)	default is made in the deposit of any sinking fund payment, if any, when and as due by the terms of a Security,

 

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

 

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

 

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

 

Section 6.4 Trustee
May File Proofs of Claim.

 

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

 

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

 

		b)	to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same,

 

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

 

Nothing herein contained shall be deemed to authorize the Trustee
to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding.

 

Section 6.5 Trustee
May Enforce Claims Without Possession of Securities.

 

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

 

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Section 6.6 Application
of Money Collected.

 

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

 

First: To the payment of all amounts due the Trustee
under Section 7.7; and

 

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

 

Third: To the Company.

 

Section 6.7 Limitation
on Suits.

 

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

 

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

 

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

 

		c)	such Holder or Holders have offered to the Trustee indemnity or security satisfactory to the Trustee against the costs, expenses
and liabilities which might be incurred by the Trustee in compliance with such request;

 

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

 

		e)	no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders
of a majority in principal amount of the outstanding Securities of that Series;

 

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it being understood, intended and expressly covenanted by the
Holder of every Security with every other Holder and the Trustee that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of
any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce
any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all such Holders
of the applicable Series.

 

Section 6.8 Unconditional
Right of Holders to Receive Principal and Interest.

 

Notwithstanding any other provision in this Indenture, the Holder
of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest,
if any, on such Security on the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in the
case of redemption, on the redemption date) and to institute suit for the enforcement of any such payment, and such rights shall
not be impaired without the consent of such Holder.

 

Section 6.9 Restoration
of Rights and Remedies.

 

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

   

Section 6.10 Rights
and Remedies Cumulative.

 

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

 

Section 6.11 Delay
or Omission Not Waiver.

 

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

 

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Section 6.12 Control
by Holders.

 

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

 

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

 

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

 

		c)	subject to the provisions of Section 7.1, the Trustee shall have the right to decline to follow any such direction if the Trustee
in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee
in personal liability, and

 

		d)	prior to taking any action as directed under this Section 6.12, the Trustee shall be entitled to indemnity satisfactory to
it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

 

Section 6.13 Waiver
of Past Defaults.

 

The Holders of not less than a majority in principal amount
of the outstanding Securities of any Series may on behalf of the Holders of all the Securities of such Series, by written notice
to the Trustee and the Company, waive any past Default hereunder with respect to such Series and its consequences, except a Default
in the payment of the principal of or interest on any Security of such Series (provided, however, that the Holders of a majority
in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any
related payment default that resulted from such acceleration). Upon any such waiver, such Default shall cease to exist, and any
Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver
shall extend to any subsequent or other Default or impair any right consequent thereon.

 

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Section 6.14 Undertaking
for Costs.

 

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

  

Article VII

TRUSTEE

 

Section 7.1 Duties
of Trustee.

 

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

 

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

 

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

 

(ii) In
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon Officer’s Certificates or Opinions of Counsel furnished to the Trustee and conforming
to the requirements of this Indenture; however, in the case of any such Officer’s Certificates or Opinions of Counsel
which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officer’s
Certificates and Opinions of Counsel to determine whether or not they conform to the form requirements of this Indenture.

 

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		c)	The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful
misconduct, except that:

 

(i) This
paragraph does not limit the effect of paragraph (b) of this Section.

 

(ii) The
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the
Trustee was negligent in ascertaining the pertinent facts.

 

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

 

		d)	Every provision of this Indenture that in any way relates to the Trustee is subject to paragraph (a), (b) and (c) of this Section.

 

		e)	The Trustee may refuse to perform any duty or exercise any right or power unless it receives indemnity satisfactory to it against
the costs, expenses and liabilities which might be incurred by it in performing such duty or exercising such right or power.

 

		f)	The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the
Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

 

		g)	No provision of this Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in
the performance of any of its duties, or in the exercise of any of its rights or powers, if adequate indemnity against such risk
is not assured to the Trustee in its satisfaction.

 

		h)	The Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections and immunities as are set
forth in paragraphs (e), (f) and (g) of this Section and in Section 7.2, each with respect to the Trustee.

 

Section 7.2 Rights
of Trustee.

 

		a)	The Trustee may rely on and shall be protected in acting or refraining from acting upon any document (whether in its original
or facsimile form) believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not
investigate any fact or matter stated in the document.

		b)	Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel or
both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s
Certificate or Opinion of Counsel.

 

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

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

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

		f)	The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request
or direction of any of the Holders of Securities unless such Holders shall have offered to the Trustee security or indemnity satisfactory
to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

		g)	The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit.

		h)	The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee
has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at
the Corporate Trust Office of the Trustee, and such notice references the Securities generally or the Securities of a particular
Series and this Indenture.

		i)	In no event shall the Trustee be liable to any person for special, punitive, indirect, consequential or incidental loss or
damage of any kind whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the likelihood
of such loss or damage.

		j)	The permissive right of the Trustee to take the actions permitted by this Indenture shall not be construed as an obligation
or duty to do so.

  

Section 7.3 Individual
Rights of Trustee.

 

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

 

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Section 7.4 Trustee’s
Disclaimer.

 

The Trustee makes no representation as to the validity or adequacy
of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities,
and it shall not be responsible for any statement in the Securities other than its authentication. The Trustee represents and warrants
that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder
and thereunder; that the statements made by it in a Statement of Eligibility on Form T- 1 supplied or to be supplied to the
Company in connection with the registration of any Securities are and will be true and accurate subject to the qualifications set
forth therein; and that such Statement complies and will comply in all material respects with the requirements of the TIA
and the Securities Act.

 

Section 7.5 Notice
of Defaults.

 

If a Default or Event of Default occurs and is continuing with
respect to the Securities of any Series and if it is known to a Responsible Officer of the Trustee, the Trustee shall send to each
Securityholder of the Securities of that Series notice of a Default or Event of Default within 90 days after it occurs or, if later,
after a Responsible Officer of the Trustee has knowledge of such Default or Event of Default; provided that, in the case of
any default or breach of the character specified in Section 6.1(c) with respect to that Series, no such notice to Holders shall
be given until at least 60 days after the occurrence thereof. Except in the case of a Default or Event of Default in payment of
principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as its corporate trust
committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of
Securityholders of that Series.

 

Section 7.6 Reports
by Trustee to Holders.

 

Within 60 days after each commencing , the Trustee shall transmit
by mail to all Securityholders, as their names and addresses appear on the register kept by the Registrar, a brief report dated
as of such anniversary date, in accordance with, and to the extent required under, TIA § 313.

 

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

 

Section 7.7 Compensation
and Indemnity.

 

The Company shall pay to the Trustee from time to time compensation
for its services as the Company and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation
shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon
request for all reasonable out of pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses
of the Trustee’s agents and counsel.

 

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The Company shall indemnify each of the Trustee and any predecessor
Trustee (including for the cost of defending itself) and hold it harmless against any cost, expense or liability, including taxes
(other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it except as set forth in the
next paragraph in the performance of its duties under this Indenture as Trustee or Agent. The Trustee shall notify the Company
promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company
of its obligations hereunder, unless and to the extent that the Company is materially prejudiced thereby. The Company shall defend
the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel and the Company shall pay the
reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent
will not be unreasonably withheld. This indemnification shall apply to officers, directors, employees, shareholders and agents
of the Trustee.

 

The Company need not reimburse any expense or indemnify against
any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through
willful misconduct or negligence.

 

To secure the Company’s payment obligations in this Section,
the Trustee shall have a lien prior to the Securities of any Series on all money or property held or collected by the Trustee,
except that held in trust to pay principal of and interest on particular Securities of that Series.

 

When the Trustee incurs expenses or renders services after an
Event of Default specified in Section 6.1(d) or (e) occurs, the expenses and the compensation for the services are intended to
constitute expenses of administration under any Bankruptcy Law.

 

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

  

Section 7.8 Replacement
of Trustee.

 

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

 

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The Trustee may resign with respect to the Securities of one
or more Series by so notifying the Company at least 30 days prior to the date of the proposed resignation. The Holders of a majority
in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee
and the Company. The Company may remove the Trustee with respect to Securities of one or more Series if:

 

		a)	the Trustee fails to comply with Section 7.10;

 

		b)	the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect
to the Trustee under any Bankruptcy Law;

 

		c)	a Custodian or public officer takes charge of the Trustee or its property; or

 

		d)	the Trustee becomes incapable of acting.

 

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

 

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

 

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

 

Section 7.9 Successor
Trustee by Merger, Etc.

 

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

 

Section 7.10 Eligibility;
Disqualification.

 

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

 

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Section 7.11 Preferential
Collection of Claims Against Company.

 

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

 

Article VIII

SATISFACTION AND DISCHARGE; DEFEASANCE

 

Section 8.1 Satisfaction
and Discharge of Indenture.

 

This Indenture shall upon Company Order be discharged with respect
to the Securities of any Series and cease to be of further effect as to all Securities of such Series (except as hereinafter provided
in this Section 8.1), and the Trustee, at the expense of the Company, shall execute instruments acknowledging satisfaction and
discharge of this Indenture, when

 

		a)	either

 

		i.	all Securities of such Series theretofore authenticated and delivered (other than Securities that
have been destroyed, lost or stolen and that have been replaced or paid) have been delivered to the Trustee for cancellation;
or

 

		ii.	all such Securities of such Series not theretofore delivered to the Trustee for cancellation

 

		(1)	have become due and payable by reason of sending a notice of redemption or otherwise, or

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

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

		(4)	are deemed paid and discharged pursuant to Section 8.3, as applicable;

 

and the Company, in the case of (1), (2) or (3)
above, shall have irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust an amount of money or
U.S. Government Obligations, which amount shall be sufficient for the purpose of paying and discharging each installment of principal
(including mandatory sinking fund or analogous payments) of and interest on all the Securities of such Series on the dates such
installments of principal or interest are due;

 

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

		c)	the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that
all conditions precedent provided for relating to the satisfaction and discharge contemplated by this Section have been complied
with.

 

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Notwithstanding the satisfaction and discharge of this Indenture,
the obligations of the Company to the Trustee under Section 7.7, and, if money shall have been deposited with the Trustee pursuant
to clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall survive.

 

Section 8.2 Application
of Trust Funds; Indemnification.

 

(a) Subject
to the provisions of Section 8.5, all money and U.S. Government Obligations or Foreign Government Obligations deposited with the
Trustee pursuant to Section 8.1, 8.3 or 8.4 and all money received by the Trustee in respect of U.S. Government Obligations or
Foreign Government Obligations deposited with the Trustee pursuant to Section 8.1, 8.3 or 8.4, shall be held in trust and applied
by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of
the principal and interest for whose payment such money has been deposited with or received by the Trustee or to make mandatory
sinking fund payments or analogous payments as contemplated by Sections 8.1, 8.3 or 8.4.

 

(b) The
Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government
Obligations or Foreign Government Obligations deposited pursuant to Sections 8.1, 8.3 or 8.4 or the interest and principal received
in respect of such obligations other than any payable by or on behalf of Holders.

 

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

 

Section 8.3 Legal
Defeasance of Securities of any Series.

 

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

 

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

 

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		b)	the provisions of Sections 2.4, 2.5, 2.7, 2.8, 7.7, 8.2, 8.3, 8.5 and 8.6; and

 

		c)	the rights, powers, trusts and immunities of the Trustee hereunder and the Company’s obligations
in connection therewith;

 

provided that, the following conditions shall have been satisfied:

 

		d)	the Company shall have irrevocably deposited or caused to be deposited (except as provided in Section 8.2(c)) with the Trustee
as trust funds specifically pledged as security for and dedicated solely to the benefit of the Holders of such Securities (i) in
the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the
case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government
Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide
(and without reinvestment and assuming no tax liability will be imposed on the Trustee with respect to such deposit), not later
than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized
firm of independent public accountants or investment bank expressed in a written certification thereof delivered to the Trustee,
to pay and discharge each installment of principal of and interest, on and any mandatory sinking fund payments in respect of all
the Securities of such Series on the dates such installments of principal or interest and such sinking fund payments are due;

 

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

 

		f)	no Default or Event of Default under Section 6.1(d) or Section 6.1(e) with respect to the Securities of such Series shall have
occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date;

 

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

 

		h)	the Company shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made by the
Company with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company; and

 

		i)	the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that
all conditions precedent provided for relating to the defeasance contemplated by this Section have been complied with.

  

Section 8.4 Covenant
Defeasance.

 

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

 

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

 

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

 

(c) no Default
or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit;

 

(d) the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that the Holders
of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such covenant
defeasance and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have
been the case if such covenant defeasance had not occurred; and

 

(e) The
Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions
precedent herein provided for relating to the covenant defeasance contemplated by this Section have been complied with.

 

Section 8.5 Repayment
to Company.

 

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

 

Section 8.6 Reinstatement.

 

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

 

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Article IX

AMENDMENTS AND WAIVERS

 

Section 9.1 Without
Consent of Holders.

 

The Company and the Trustee may amend or supplement this Indenture
or the Securities of one or more Series without the consent of any Securityholder:

 

		a)	to cure any ambiguity, defect or inconsistency;

 

		b)	to comply with Article V;

 

		c)	to provide for uncertificated Securities in addition to or in place of certificated Securities;

 

		d)	to add guarantees with respect to Securities of any Series or secure Securities of any Series;

 

		e)	to surrender any of the Company’s rights or powers under this Indenture;

 

		f)	to add covenants or events of default for the benefit of the holders of Securities of any Series;

 

		g)	to comply with the applicable procedures of the applicable depositary;

 

		h)	to make any change that does not adversely affect the rights of any Securityholder;

 

		i)	to provide for the issuance of and establish the form and terms and conditions of Securities of
any Series as permitted by this Indenture;

 

		j)	to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with
respect to the Securities of one or more Series and to add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more than one Trustee; or

 

		k)	to comply with requirements of the SEC in order to effect or maintain the qualification of this
Indenture under the TIA.

 

Section 9.2 With
Consent of Holders.

 

The Company and the Trustee may enter into a supplemental indenture
with the written consent of the Holders of a majority in principal amount of the outstanding Securities of each Series affected
by such supplemental indenture, with the Securities of each Series voting as a class (including consents obtained in connection
with a tender offer or exchange offer for the Securities of such Series), for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner
the rights of the Securityholders of each such Series. Except as provided in Section 6.13, the Holders of a majority in principal
amount of the outstanding Securities of any Series by notice to the Trustee (including consents obtained in connection with a tender
offer or exchange offer for the Securities of such Series) may waive compliance by the Company with any provision of this Indenture
or the Securities with respect to such Series.

 

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It shall not be necessary for the consent of the Holders of
Securities under this Section 9.2 to approve the particular form of any proposed supplemental indenture or waiver, but it shall
be sufficient if such consent approves the substance thereof. After a supplemental indenture or waiver under this section becomes
effective, the Company shall send to the Holders of Securities affected thereby, a notice briefly describing the supplemental indenture
or waiver. Any failure by the Company to send such notice, or any defect therein, shall not, however, in any way impair or affect
the validity of any such supplemental indenture or waiver.

 

Section 9.3 Limitations.

 

Without the consent of each Securityholder affected, an amendment
or waiver may not:

 

		a)	reduce the principal amount of Securities whose Holders must consent to an amendment, supplement
or waiver;

 

		b)	reduce the rate of or extend the time for payment of interest (including default interest) on any
Security;

 

		c)	reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or
postpone the date fixed for, the payment of any sinking fund or analogous obligation;

 

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

 

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

 

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

 

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

 

		h)	waive a redemption payment with respect to any Security, provided that such redemption is made
at the Company’s option.

 

Section 9.4 Compliance
with Trust Indenture Act.

 

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

 

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Section 9.5 Revocation
and Effect of Consents.

 

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

 

Any amendment or waiver once effective shall bind every Securityholder
of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (a) through (h) of Section
9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder
of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security.

 

The Company may, but shall not be obligated to, fix a record
date for the purpose of determining the Holders entitled to give their consent or take any other action described above or required
or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the second immediately preceding
paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those persons, shall
be entitled to give such consent or to revoke any consent previously given or take any such action, whether or not such Persons
continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record
date.

 

Section 9.6 Notation
on or Exchange of Securities.

 

The Company or the Trustee may place an appropriate notation
about an amendment or waiver on any Security of any Series thereafter authenticated. The Company in exchange for Securities of
that Series may issue and the Trustee shall authenticate upon receipt of a Company Order in accordance with Section 2.3 new Securities
of that Series that reflect the amendment or waiver.

 

Section 9.7 Trustee
Protected.

 

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

 

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Article X

MISCELLANEOUS

 

Section 10.1 Trust
Indenture Act Controls.

 

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

 

Section 10.2 Notices.

 

Any notice or communication by the Company or the Trustee to
the other, or by a Holder to the Company or the Trustee, is duly given if in writing and delivered in person or mailed by first-class
mail (registered or certified, return receipt requested), facsimile transmission, email or overnight air courier guaranteeing next
day delivery, to the others’ address:

 

if to the Company:

 

Varonis Systems, Inc.

1250 Broadway, 29th Floor

New York, NY 10001

Attention: Yuval Meider

Telephone: (877) 292-8767

 

with a copy to:

 

White & Case LLP

1221 Avenue of the Americas

New York, New York 10020

Attention: Colin Diamond

Telephone: (212) 819-8200

 

if to the Trustee:

 

[Trustee]

[Address]

[Address]

Attention: [______]

Telephone: ([___])[___]-[____]

 

The Company or the Trustee by notice to the other may designate
additional or different addresses for subsequent notices or communications.

 

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Any notice or communication to a Securityholder shall be sent
electronically or by first-class mail to his, her or its address shown on the register kept by the Registrar, in accordance with
the procedures of the Depositary. Failure to send a notice or communication to a Securityholder of any Series or any defect in
it shall not affect its sufficiency with respect to other Securityholders of that or any other Series.

 

If a notice or communication is sent or published in the manner
provided above, within the time prescribed, it is duly given, whether or not the Securityholder receives it. If the Company sends
a notice or communication to Securityholders, it shall send a copy to the Trustee and each Agent at the same time.

 

Notwithstanding any other provision of this Indenture or any
Security, where this Indenture or any Security provides for notice of any event (including any notice of redemption) to a Holder
of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given to the Depositary for such Security
(or its designee) pursuant to the customary procedures of such Depositary.

 

Section 10.3 Communication
by Holders with Other Holders.

 

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

 

Section 10.4 Certificate
and Opinion as to Conditions Precedent.

 

Upon any request or application by the Company to the Trustee
to take any action under this Indenture, the Company shall furnish to the Trustee:

 

		a)	an Officer’s Certificate stating that, in the opinion of the signers, all conditions precedent,
if any, provided for in this Indenture relating to the proposed action have been complied with; and

 

		b)	an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent
have been complied with.

 

Section 10.5 Statements
Required in Certificate or Opinion.

 

Each certificate or opinion with respect to compliance with
a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall
comply with the provisions of TIA § 314(e) and shall include:

 

		a)	a statement that the person making such certificate or opinion has read such covenant or condition;

 

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

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

		d)	a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with.

  

Section 10.6 Rules
by Trustee and Agents.

 

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

 

Section 10.7 Legal
Holidays.

 

Unless otherwise provided by supplemental indenture hereto,
a “Legal Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment,
payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the
intervening period.

 

Section 10.8 No
Recourse Against Others.

 

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

 

Section 10.9 Counterparts.

 

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

 

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Section 10.10 Governing
Law; Waiver of Jury Trial; Consent to Jurisdiction.

 

THIS INDENTURE AND THE SECURITIES, INCLUDING ANY CLAIM OR CONTROVERSY
ARISING OUT OF OR RELATING TO THE INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. THE COMPANY,
THE TRUSTEE AND THE HOLDERS (BY THEIR ACCEPTANCE OF THE SECURITIES) EACH HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE
NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

 

Any legal suit, action or proceeding arising out of or based
upon this Indenture or the transactions contemplated hereby may be instituted in the federal courts of the United States of America
located in the City of New York or the courts of the State of New York in each case located in the City of New York (collectively,
the “Specified Courts”), and each party irrevocably submits to the non-exclusive jurisdiction of such courts in any
such suit, action or proceeding. Service of any process, summons, notice or document by mail (to the extent allowed under any applicable
statute or rule of court) to such party’s address set forth above shall be effective service of process for any suit, action
or other proceeding brought in any such court. The Company, the Trustee and the Holders (by their acceptance of the Securities)
each hereby irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding
in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim any such suit, action or other
proceeding has been brought in an inconvenient forum.

 

Section 10.11 No
Adverse Interpretation of Other Agreements.

 

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

 

Section 10.12 Successors.

 

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

 

Section 10.13 Severability.

 

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

 

Section 10.14 Table
of Contents, Headings, Etc.

 

The Table of Contents, Cross Reference Table, and headings of
the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part
hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

 

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Section 10.15 Securities
in a Foreign Currency.

 

Unless otherwise specified in a Board Resolution, a supplemental
indenture hereto or an Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular
Series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage
in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding
and, at such time, there are outstanding Securities of any Series which are denominated in more than one currency, then the principal
amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be determined
by converting any such other currency into a currency that is designated upon issuance of any particular Series of Securities.
Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant
to Section 2.2 of this Indenture with respect to a particular Series of Securities, such conversion shall be at the spot rate for
the purchase of the designated currency as published in The Financial Times in the “Currency Rates” section (or, if
The Financial Times is no longer published, or if such information is no longer available in The Financial Times, such source as
may be selected in good faith by the Company) on any date of determination. The provisions of this paragraph shall apply in determining
the equivalent principal amount in respect of Securities of a Series denominated in currency other than Dollars in connection with
any action taken by Holders of Securities pursuant to the terms of this Indenture.

 

All decisions and determinations provided for in the preceding
paragraph shall, in the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and irrevocably
binding upon the Trustee and all Holders.

 

Section 10.16 Judgment
Currency.

 

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

 

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Section 10.17 Force
Majeure.

 

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

 

Section 10.18 U.S.A.
Patriot Act.

 

The parties hereto acknowledge that in accordance with Section
326 of the U.S.A. Patriot Act, the Trustee 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 XI

SINKING FUNDS

 

Section 11.1 Applicability
of Article.

 

The provisions of this Article shall be applicable to any sinking
fund for the retirement of the Securities of a Series if so provided by the terms of such Securities pursuant to Section 2.2 and
except as otherwise permitted or required by any form of Security of such Series issued pursuant to this Indenture.

 

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

 

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Section 11.2 Satisfaction
of Sinking Fund Payments with Securities.

 

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

 

Section 11.3 Redemption
of Securities for Sinking Fund.

 

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

  

    47

     

    

 

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

  

	 	Varonis Systems, Inc.
	 	 
	 	By:	       
	 	Name:	 
	 	Title:	 
	 	 
	 	[Trustee], as Trustee
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

 

48riii_ex101.htm

EXHIBIT 10.1
   
 MARKETING AND MASTER DISTRIBUTION AGREEMENT
  
 This Marketing and Distribution Agreement (“Agreement”) is made as of February 8, 2021 (the “Effective Date”), by and between ResGreen a Nevada corporation having an address at 22800 Hall Road, Clinton Township, MI 48036 (“Company”), and Renavotio, Inc., a Nevada corporation having an address at 601 South Boulder Avenue, Suite 600, Tulsa, Oklahoma 74119 (“Agent”). Each of Company and Agent are sometimes referred to herein as a “Party” and collectively as the “Parties”.
  
 Whereas Company is in the business of providing Robotic sanitation solutions (“Wanda SD”). 
  
 Whereas Agent sources and sells personal protective equipment which includes, but is not limited to, face masks, gloves, gowns, goggles, and face shields, sanitizer, disinfectants, and sanitizing equipment collectively, “PPE”). Company and Agent agree that the definition of PPE may be amended from time to time by mutual agreement in writing.
  
 Whereas Agent desires to market and sell the Wanda SD to Agent’s PPE customers (“Customers or Clients”). 
  
 Whereas Company wishes to have Agent promote, market, distribute, and sell Wanda SD to Agent’s Customers.
  
 Now Therefore, in consideration of the mutual covenants, terms and conditions set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows:
  
 1. Terms of Appointment. 
  
 (a) Appointment. Company hereby appoints Agent (“Appointment”) as its preferred sales representative to promote, market, distribute and sell the Wanda SD as an enhancement to the PPE sold by Agent to Customers and by Clients throughout the territories set forth Schedule A attached hereto (“Territories”) in accordance with the terms and conditions of this Agreement (“Services”).
  
 (b) Compensation. In exchange for Agents appointment, Agent agrees to place an initial order and purchase 20 (twenty) units of Wanda SD for Agent as per the attached pricing schedule to be paid for by Agent as the units are delivered by the Company to the Agent as described in Paragraph 3. Section d. 
  
 (c) Qualifications. Agent represents that Agent is duly licensed (as applicable) and has the qualifications, experience, and ability to properly perform the Services. Agent shall use Agent’s best efforts to perform the Services such that the results are satisfactory to Company. 
    
 Renavotio Initials _____
   
 ResGreen Initials _____
   
 	 
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 MARKETING AND MASTER DISTRIBUTION AGREEMENT, cont’d
   
 (d) Agent Exclusive. It is understood and agreed that Agent will not enter into similar agreements or arrangements with any competitor of Company during the Term (as defined below) without the express prior written consent of Company. 
  
 (e) Company Exclusive. The Parties acknowledge and agree that the Appointment shall be exclusive basis between Company and Agent; provided, however, that Company shall send all contact for the aforementioned products directly to Agent to handle all sales and logistic for said products. 
  
 (f) Acknowledgements. Company acknowledges and agrees that Agent intends to expend significant resources in promoting the Wanda SD and Agent is foregoing the opportunity to source products that are like the Wanda SD in exchange for the terms of and conditions of this Agreement. 
  
 2. Agent’s Obligations. Compliance. Agent will comply with all applicable requirements of federal, state, foreign and local laws, ordinances, and administrative rules and regulations relating to Agent’s performance of its obligations under this Agreement.
  
 (a) Marketing Materials. Agent will not use any employees of the Company or materials referencing the Company or the Wanda SD that have not been approved in advance by the Company.
  
 (b) Conduct. Agent will not use deceptive, illegal, misleading, or unethical practices and will not make any false or misleading representations with regard to the Wanda SD or Company.
  
 3. Company’s Obligations:
  
 (a) Pricing. Company will provide the Wanda SD to Agent for the prices set forth on Schedule A attached hereto. Company reserves the right to modify the prices set forth on Schedule A on not less than thirty (30) days prior written notice to Agent, subject to Section 1(d) above.
  
 (b) Order Processing. Company will review all orders for Wanda SD submitted by Agent. Company reserves the right to reject, for any or no reason, any Client order solicited by Agent.
  
 (c) Order Cancellation for Cause. Company may cancel an order for Wanda SD by Agent, or any Customer or Client of Agent, without cause.
  
 For purposes of this provision, the term “cause” shall mean (i) the reasonable unavailability of any Wanda SD for sale in the Territory, or (ii) Agent’s failure to pay any outstanding fees due and payable to Company and or related party vendors and sales agents, or (iii) any ‘force majeure’ event not within a Party’s reasonable control, including: (1) acts of God, flood, drought, earthquake or other natural disaster; (2) epidemic or pandemic; (3) terrorist attack, civil war, civil commotion or riots, war, threat of or preparation for war, armed conflict, imposition of sanctions, embargo, or breaking off of diplomatic relations; (4) nuclear, chemical or biological contamination, or sonic boom; (5) any law or any action taken by a government or public authority, including imposing an export or import restriction, quota or prohibition; (6) any labor or trade dispute, strikes, industrial action or lockouts; and (7) non-performance by suppliers or subcontractors.
  
 Renavotio Initials _____
   
 ResGreen Initials _____
    
 	 
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 MARKETING AND MASTER DISTRIBUTION AGREEMENT, cont’d
    
 (d) Payments. 
  
 (i) In the event Agent makes a resale of Wanda SD to a Client, Agent shall make prompt payment of Agent’s Price for such products set forth on Schedule A to Company. 
  
 (ii) All payments to be made pursuant to this provision shall become payable to Agent or Company when the subject funds are actually received by the payor. 
  
 (e) Continuing Relationships. If this Agreement is terminated other than for Agent’s breach, all commissions due to Agent pursuant to Section 3(d)(ii) above for orders placed after the date of termination of this Agreement shall be paid for a period of ten (10) years after the termination date of this Agreement or for the term of the Client or Customer relationship with Company, whichever is shorter. 
  
 (f) Referrals. Notwithstanding the non-exclusive nature of the Appointment, Company agrees to forward all unsolicited inquiries and sales leads received by Company for PPE products and PPE-related applications for Wanda SD throughout the Territory to Agent.
  
 (g) Conduct. Company will not use deceptive, illegal, misleading or unethical practices and will not make any false or misleading representations with regard to the Wanda SD or Company.
  
 (h) Compliance. Company will comply with all applicable requirements of federal, state and local laws, ordinances, administrative rules and regulations relating to Company’s performance of its obligations under this Agreement. 
  
 4. Independent Contractor. The relationship between Company and Agent under this Agreement is, and will at all times remain, one of independent contractors and not that of employer and employee, franchisor and franchisee, or joint venturers. This Agreement does not establish Agent as Company’s representative or agent for any purposes other than to solicit and make sales of the Wanda SD as provided for herein. Agent is not authorized to make contracts in Company’s name or to transact any business in the name of Company, or to assume or create any obligation or responsibility binding on Company in any manner whatsoever.
  
 5. Confidentiality.
  
 (a) Definition. As used in this Agreement, “Confidential Information” shall mean and include, but not be limited to, any information, data, trade secrets, both under applicable statute and common law, patent applications, reports, analyses, memos, notes, business plans, processes, concepts, methods, formulae, techniques, designs, specifications, printed materials, logos, drawings, ideas, discoveries, documentation, diagrams, research, development, procedures, know-how, new products, marketing techniques, marketing materials and plans, operations, timetables, strategies and development plans, prospective trade names or trademarks, strategic partner and customer names, identities of manufacturing facilities, contract arrangements and other information related to operational execution, market positioning and financial information, programs, works in process, technical knowledge, pricing, sales and marketing strategies, research and development activities, financial affairs, data and information systems, vendors, suppliers, orders, employees, consultants, email and mobile telephone numbers of employees and consultants, current or future business agreement prospects, relationships, strategies and goals and any other private or confidential matters not generally available to the public or other proprietary materials provided or made available to the receiving Party, in whatever form (e.g., written oral, recorded or electronic) and by whatever mode (e.g., Company presentation, demonstration, meeting, interview, telephone conference or call, e-mail, etc.) in which it is communicated, recorded or maintained, that contains or otherwise reflects information concerning the disclosing Party and its business. 
  
 Renavotio Initials _____
   
 ResGreen Initials _____
    
 	 
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 MARKETING AND MASTER DISTRIBUTION AGREEMENT, cont’d
  
 (b) Third-Party Information. The term “Confidential Information” also includes data that relates to or is associated with any client or customer of a Party, including, but not limited to, identifying information that is either provided to a receiving Party by or at the direction of the disclosing Party, or received, stored, or processed by either Party as part of the Services (“Third-Party Information”).
  
 (c) Duration of Confidentiality. Each Party shall, during the term of this Agreement and for a period of three (3) years after the termination hereof, protect the unauthorized use or distribution of Confidential Information and shall use at least the same degree of care to prevent the disclosure of Confidential Information as each Party uses to protect its own Confidential Information. Each Party agrees not to disclose or permit any third-party access to the Confidential Information, except as such disclosure or access is necessary to perform the Services and only then if the recipient of such Confidential Information is bound by confidentiality obligations at least as protective as those contained herein.
  
 (d) No Reverse Engineering. Agent shall not decompile, disassemble, or reverse engineer the Wanda SD.
  
 (e) Intellectual Property Ownership. Company owns and shall continue to own, all right, title and interest in and to the Wanda SD and related intellectual property. 
  
 (f) Lead Lists. Each Party agrees that it will not compile, use, sell, or otherwise distribute any lists containing Third-Party Information that belong to or originate with the other Party other than as expressly permitted in this Agreement. 
  
 (g) Safeguards. Each Party represents and warrants to the other Party that it shall use such administrative, physical, and technical safeguards as reasonably practical to preserve the integrity, confidentiality, and availability of all Third-Party Information that is collected, received, transmitted, stored, used and disclosed by each Party.
   
 Renavotio Initials _____
   
 ResGreen Initials _____
   
 	 
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 MARKETING AND MASTER DISTRIBUTION AGREEMENT, cont’d
   
 (h) Notice of Misuse. Each Party shall immediately notify the other Party in writing of all circumstances surrounding any possession, use, or knowledge of Third-Party Information by any person other than those authorized under this Agreement. If either Party discovers a security breach that impacts any Third-Party Information or results in unauthorized third-party disclosure or access to Third-Party Information, such discovering Party agrees to immediately notify the other Party of such breach and shall provide reasonable assistance to and will cooperate with the other Party in investigating the breach, including, but not limited to, providing the other Party with the following information in writing: (i) identification of each client or customer who is the subject of information that has been, or is reasonably believed by the discovering Party to have been accessed, acquired, or disclosed; (ii) a brief description of the events surrounding said breach; (iii) the date of the suspected breach; (iv) the date that the discovering Party discovered the breach; (v) the type of information involved; and (vi) any preliminary steps taken to mitigate the damage. 
     
 (i) Return or Destruction. Upon termination of this Agreement, each Party will cease all use of the Confidential Information of the other Party and immediately either return or destroy any and all Confidential Information in its possession. Each Party shall certify such destruction upon written request from the other Party. 
  
 6. Term and Termination. Except as expressly set forth elsewhere herein, the term of this Agreement and the Appointment of Agent hereunder shall commence on the Effective Date and continue until either Party terminates this Agreement at any time upon thirty (30) days’ prior written notice to the other Party. Notwithstanding the foregoing, each Party shall have the right to terminate this Agreement upon written notice to the other Party with immediate effect, in the event that the non-terminating Party has intentionally, or in a willful, wanton, or reckless manner, (a) made any false representation, report, or claim relative to this Agreement, the other Party, or the Wanda SD, or (b) engaged in any deceptive trade practices. 
  
 Upon termination of this Agreement, each Party shall immediately: (i) discontinue any and all uses of Third-Party Information and Confidential Information of the other Party; (ii) return or destroy any and all Third-Party Information and other Confidential Information of the other Party in its possession or under its control; and (iii) cease representation, in any manner, as a representative of the other Party. In the event of such termination, each Party shall make all payments due to the other Party for any outstanding transactions arising prior to the termination date.
  
 7. Method of Provision of Services. Agent shall be solely responsible for determining the method, details, and means of performing the Services. 
  
 8. Non-Solicitation. Each Party agrees that for a period of two (2) years after the termination of this Agreement, such Party shall not employ, solicit the termination of employment of, or attempt to employ or divert any employee of the other Party or any of its subsidiaries or affiliates. 
  
 9. Withholding; Indemnification. Each Party shall have full responsibility for its compliance with all applicable labor and employment requirements with respect to its self-employment, sole proprietorship or other form of business organization, including state worker’s compensation insurance coverage requirements and any immigration visa requirements. Each Party agrees to indemnify, defend and hold the other Party harmless from any liability for, or assessment of, any claims or penalties with respect to such withholding taxes, labor or employment requirements.
   
 Renavotio Initials _____
   
 ResGreen Initials _____
   
 	 
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 MARKETING AND MASTER DISTRIBUTION AGREEMENT, cont’d
   
 10. Non-Compete. Agent represents and warrants that it does not presently perform and will not perform, during the term of this Agreement and for one (1) year thereafter, consulting or other services for, or engage in or intend to engage in an employment relationship with, companies whose businesses or proposed businesses in any way involve products or services which would be competitive with the Company’s products or services, or those products or services proposed or in development by the Company. Company and Agent agree that if Company terminates this Agreement for convenience pursuant to Section 6, Agent’s obligations under this Section 10 shall terminate and shall be of no further force and effect; and if Agent terminates this Agreement for Convenience pursuant to Section 6, Agent’s obligations under this Section 10 shall continue in full force and effect. 
  
 11. Indemnification. Agent shall, at all times, defend, indemnify and hold harmless Company, its officers, directors, successors, and assigns (collectively, “Company Indemnified Parties”) from and against and shall pay and reimburse Company Indemnified Parties for, any and all liabilities, obligations, losses, damages, out-of-pocket costs or expenses arising out of or relating to claims of third parties with respect to (a) any alleged act or omission of Agent in the performance of its obligations under this Agreement, including but not limited to, the Services, (b) Agent’s failure to comply with applicable laws, (c) Agent’s breach of its representations and warranties made in this Agreement; and (d) Agent’s gross negligence or willful misconduct. 
  
 Company shall, at all times, defend, indemnify and hold harmless Agent, its officers, directors, affiliates, successors and assigns (collectively, “Agent Indemnified Parties”) from and against and shall pay and reimburse Agent Indemnified Parties for, any and all liabilities, obligations, losses, damages, out-of-pocket costs or expenses arising out of or relating to claims of third parties with respect to (a) any alleged act or omission of Company in the performance of its obligations under this Agreement, (b) Company’s failure to comply with applicable laws, (c) Company’s breach of its representations and warranties made in this Agreement; and (d) Company’s gross negligence or willful misconduct.
  
 15. Conflicts with this Agreement. Each Party represents and warrants to the other Party that it is not under any pre-existing obligation in conflict or in any way inconsistent with the provisions of this Agreement. Each Party represents and warrants that its performance of all the terms of this Agreement will not breach any agreement to keep in confidence proprietary information acquired by such Party in confidence or in trust prior to commencement of this Agreement. Each Party warrants that it has the right to disclose and/or use all ideas, processes, techniques and other information, if any, which it has gained from third parties, and which it discloses to the other Party or uses in the course of performance of this Agreement, without liability to such third parties. Notwithstanding the foregoing, each Party agrees that it shall not bundle with or incorporate into any deliverables provided to the other Party herewith any third-party products, ideas, processes, or other techniques, without the express, written prior approval of the other Party. Each Party represents and warrants that it has not granted and will not grant any rights or licenses to any intellectual property or technology that would conflict with its obligations under this Agreement. Neither Party will knowingly infringe upon any copyright, patent, trade secret or other property right of any former client, employer, or third party in connection with this Agreement. Each Party represents and warrants that the other Party is free to use, without restriction, whatever advice and assistance is provided by it in connection with this Agreement.
  
 Renavotio Initials _____
   
 ResGreen Initials _____
    
 	 
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 MARKETING AND MASTER DISTRIBUTION AGREEMENT, cont’d
  
 16. Ownership of Work Product. Agent agrees that the Wanda SD and all inventions, data, works, discoveries, designs, technology and improvements (whether or not protectable by a patent or a copyright) (“Inventions”) related to the business of the Company, which are conceived of, made, reduced to practice, created, written, designed or developed, authored or made by Agent, alone or in combination with others, which (i) are created or generated during the performance of the Services, (ii) which arise under or relate to this Agreement or the Services (whether performed by the Agent or by the Company using Agent’s facilities), or (iii) which result from the Company Confidential Information, shall be the sole and exclusive property of the Company. The Inventions are to be promptly reported to the Company but otherwise maintained in confidence by Agent. All works authored by the Agent in connection with the Agent’s performance of the Services under this Agreement shall be deemed “works made for hire”. Agent hereby assigns to the Company all Inventions and any and all related patents, copyrights, trademarks, trade names, and other industrial and intellectual property rights and applications therefor, and appoints any officer of the Company as its duly authorized agent to execute, file, prosecute and protect the same before any government agency, court or authority. Agent agrees to cooperate fully with the Company and its nominees to obtain patents or register copyrights or trademarks in any and all countries for these Inventions, and to execute all papers for use in applying for and obtaining such protection thereon as the Company may desire, together with assignments thereof to confirm the Company’s ownership thereof, all at the Company’s expense. Notwithstanding the foregoing, the Company shall have no ownership interests in the PPE. 
  
 17. Audit Rights. Each Party shall have the right to audit the books and records of the other Party solely relating to this Agreement upon reasonable notice and at its expense, not more frequently than once annually during the term of the Agreement and for a period of two (2) years thereafter. Each Party shall maintain during the term and for a period of two (2) years thereafter, all books, records, accounts, and technical materials regarding its activities in connection herewith sufficient to determine and confirm all amounts payable to the other Party and compliance with all other material obligations hereunder. The audited Party shall pay any unpaid delinquent amounts within ten (10) days of the other Party’s request. To the extent such examination discloses an underpayment of the greater of (a) 5% of the fees payable for the period of the audit; or (b) $15,000, the audited Party shall fully reimburse the other Party, promptly upon demand, for the reasonable fees and disbursements due the auditor for such audit; provided that such prompt payment shall not be in lieu of any other remedies or rights available to such other Party hereunder. If an audit reveals an overpayment, the auditing Party shall promptly notify the other Party and shall pay the amount of any such overpayment to the other Party within ten (10) days thereafter. All information obtained, reviewed or generated as a result of the exercise of these audit rights by a Party shall be deemed to be Confidential Information and shall be subject to the confidentiality obligations contained in Section 5 of this Agreement. 
    
 Renavotio Initials _____
   
 ResGreen Initials _____
  
 	 
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 MARKETING AND MASTER DISTRIBUTION AGREEMENT, cont’d
   
 18. Foreign Corrupt Practices Act. Neither Party nor any of the its directors, officers, employees or agents has violated and each Party and its directors, officers, employees and agents agree that it will not violate, the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”) or any other applicable anti-bribery or anti-corruption law. Without limiting the generality of the foregoing, neither Party nor any of its directors, officers, employees or agents has, directly or indirectly, made, offered, promised or authorized any payment or gift of any money or anything of value to or for the benefit of any “foreign official” (as such term is defined in the FCPA), foreign political party or official thereof or candidate for foreign political office for the purpose of (i) influencing any official act or decision of such official, party or candidate, (ii) inducing such official, party or candidate to use his, her or its influence to affect any act or decision of a foreign governmental authority, or (iii) securing any improper advantage, in the case of (i), (ii) and (iii) above in order to assist the other Party or any of its affiliates in obtaining or retaining business for or with, or directing business to, any person. Neither Party nor any of its directors, officers, employees or agents have made or authorized any bribe, rebate, payoff, influence payment, kickback or other unlawful payment of funds or received or retained any funds in violation of any law, rule or regulation. Each Party further represents that it has maintained, and has caused each of its subsidiaries and affiliates to maintain, systems of internal controls (including, but not limited to, accounting systems, purchasing systems and billing systems) and written policies to ensure compliance with the FCPA and all other applicable anti-bribery or anti-corruption laws, and to ensure that all books and records of such Party accurately and fairly reflect, in reasonable detail, all transactions and dispositions of funds and assets. Neither Party nor any of its officers, directors or employees is the subject of any allegation, voluntary disclosure, investigation, prosecution or other enforcement action related to the FCPA or any other anti-bribery or anti-corruption law. Each Party hereby represents and warrants that it will, and will cause its directors, officers, employees and agents to, comply with the requirements of the FCPA as set forth above. 
  
 19. Miscellaneous.
  
 (a) Governing Law. The validity, interpretation, construction and performance of this Agreement, and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the state of New York, without giving effect to principles of conflicts of law.
  
 (b) Equitable Relief. Each Party agrees that any violation of this Agreement Agent may cause the other Party irreparable harm for which remedies other than equitable relief may be inadequate. Accordingly, each Party shall have the right to enforce any provision of this Agreement by injunction, specific performance or other equitable relief without prejudice to other rights and remedies that the Party may have for breach of this Agreement by the other Party and without the necessity of posting a bond. 
  
 (c) Entire Agreement. This Agreement and Schedule A set forth the entire agreement and understanding of the Parties relating to the subject matter herein and supersedes all prior or contemporaneous discussions, understandings and agreements, whether oral or written, between them relating to the subject matter hereof. 
  
 (d) Amendments and Waivers. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing signed by the Parties. No delay or failure to require performance of any provision of this Agreement shall constitute a waiver of that provision as to that or any other instance. 
    
 Renavotio Initials _____
   
 ResGreen Initials _____
   
 	 
	8
	

	 

 
 
   
 MARKETING AND MASTER DISTRIBUTION AGREEMENT, cont’d
   
 (e) Successors and Assigns. Except as otherwise provided in this Agreement, this Agreement, and the rights and obligations of the Parties hereunder, will be binding upon and inure to the benefit of their respective successors, assigns, heirs, executors, administrators, and legal representatives. Neither Party may assign, any of its rights and obligations under this Agreement, except with the prior written consent of the other Party, except that either Party may (without consent) assign its rights and obligations hereunder to any of its affiliates or to any successor to all or substantially all of its business (by sale of equity or assets, merger, consolidation or otherwise).
  
 (f) Notices. Any notice, demand, or request required or permitted to be given under this Agreement shall be in writing and shall be deemed sufficient when delivered personally or by overnight courier addressed to the Party to be notified at such Party’s address as set forth at the beginning of this Agreement or as subsequently modified by written notice. 
  
 (g) No Waiver. This Agreement may not be altered, modified, or amended in any way except in writing signed by both Parties. The failure of a Party to enforce any provision of this Agreement shall not be construed to be a waiver of the right of such Party to thereafter enforce that provision or any other provision or right. 
  
 (h) Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms. 
  
 (i) Construction. This Agreement is the result of negotiations between and has been reviewed by each of the Parties hereto and their respective counsel, if any; accordingly, this Agreement shall be deemed to be the product of all of the Parties hereto, and no ambiguity shall be construed in favor of or against any one of the Parties hereto. 
  
 (j) Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and all of which together shall constitute one and the same agreement. Execution of a facsimile or pdf copy will have the same force and effect as execution of an original, and a facsimile or pdf signature will be deemed an original and valid signature. 
  
 [Signature Page Follows]
  
 Renavotio Initials _____
   
 ResGreen Initials _____
   
 	 
	9
	

	 

 
 
  
 MARKETING AND MASTER DISTRIBUTION AGREEMENT, cont’d
   
 The Parties have executed this Agreement as of the Effective Date.
   
 	 	 RENAVOTIO, INC.
	
	 	 	 	 
		By:	/s/ William Robinson	
	  
	 Name:
	William Robinson	 
	 	Title:	CEO	 

 
 
   
 	 	 ResGreen Group International, Inc.
	
	 	 	 	 
		By:	/s/ Parashar Patel	
	  
	 Name:
	Parashar Patel	 
	 	Title:	CEO	 

 
 
    
 Renavotio Initials _____
   
 ResGreen Initials _____
  
 	 
	10

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