Document:

EX-4.2

 Exhibit 4.2 

OFFICERS’ CERTIFICATE 

The undersigned, NVIDIA Corporation, a Delaware corporation (the “Company”), hereby certifies through Colette M. Kress, its
Executive Vice President and Chief Financial Officer, and Chris Ginieczki, its Vice President and Treasurer, pursuant to Sections 2.1, 2.3 and 11.5 of the Indenture, dated as of September 16, 2016 (the “Indenture”), by and between the
Company, as Issuer, and Wells Fargo Bank, National Association, as trustee, as follows: 
 1. The form and terms of the 2.850% Notes due
2030 (the “2030 Notes”), as set forth on Annex A attached hereto, the form and terms of the 3.500% Notes due 2040 (the “2040 Notes”), as set forth on Annex B attached hereto, the form and terms of the 3.500% Notes
due 2050 (the “2050 Notes”), as set forth on Annex C attached hereto and the form and terms of the 3.700% Notes due 2060 (the “2060 Notes”), as set forth on Annex D attached hereto, have been established pursuant to
Sections 2.1 and 2.3 of the Indenture and comply with the Indenture. 
 2. The undersigned have read the Indenture. 

3. The statements made in this certificate are based upon an examination of the 2030 Notes, the 2040 Notes, the 2050 Notes and the 2060 Notes
to be governed by the Indenture, upon an examination of and familiarity with the Indenture, upon our general knowledge of and familiarity with the operations of the Company and upon the performance of our duties as officers of the Company. 

4. In the opinion of the undersigned, they have made such examination or investigation as is necessary to enable them to express an informed
opinion as to whether or not the covenants and conditions provided for in the Indenture relating to the issuance and authentication of each of the 2030 Notes, the 2040 Notes, the 2050 Notes and the 2060 Notes have been complied with. 

5. In the opinion of the undersigned, with respect to the foregoing, the covenants and conditions provided for in the Indenture relating to
the issuance and authentication of each of the 2030 Notes, the 2040 Notes, the 2050 Notes and the 2060 Notes have been complied with. 

Capitalized terms used herein without definition have the meanings assigned to them in the Indenture. 

 IN WITNESS WHEREOF, the undersigned have caused this certificate to be executed by its duly
authorized officers as of this 31st day of March, 2020. 
  

			
	 NVIDIA CORPORATION

		
	By:	 	 /s/ Colette M. Kress

	Name:	 	Colette M. Kress
	Title:	 	Executive Vice President and Chief Financial Officer
		
	By:	 	 /s/ Chris Ginieczki

	Name:	 	Chris Ginieczki
	Title:	 	Vice President and Treasurer

  
 [Signature Page
to Officers’ Certificate under the Indenture] 

 ANNEX A 

Pursuant to Section 2.3 of the Indenture, dated as of September 16, 2016 (the “Indenture”), between NVIDIA Corporation, a
Delaware corporation (the “Issuer”), and Wells Fargo Bank, National Association, as trustee (the “Trustee”), the terms of a series of securities to be issued pursuant to the Indenture are as follows: 

 

	 	1.	 Designation. The designation of the securities is “2.850% Notes due 2030” (the “2030
Notes”). 

  

	 	2.	 Initial Aggregate Principal Amount. The 2030 Notes shall be limited in initial aggregate principal
amount to $1,500,000,000 (except for 2030 Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other 2030 Notes pursuant to Section 2.8, 2.9, 2.11, 8.5 or 12.3 of the Indenture).

  

	 	3.	 Currency Denomination. The 2030 Notes shall be denominated in Dollars. 

 

	 	4.	 Maturity. The date on which the principal of the 2030 Notes is payable is April 1, 2030.

  

	 	5.	 Rate of Interest; Interest Payment Date; Regular Record Dates. Each 2030 Note shall bear interest from
March 31, 2020 at 2.850% per annum until the principal thereof is paid. Such interest shall be payable semi-annually in arrears on April 1 and October 1 of each year, commencing on October 1, 2020, to the persons in whose names
the 2030 Notes are registered at the close of business on the immediately preceding March 16 and September 16, respectively. Interest on the 2030 Notes shall accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from March 31, 2020. Interest on the 2030 Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the
event that any date on which principal, premium, if any, or interest is payable on the 2030 Notes is not a Business Day, then payment of the principal, premium, if any, or interest payable on such date will be made on the next succeeding day that is
a Business Day (and without any interest or other payment in respect of any such delay). 

  

	 	6.	 Place of Payment. Principal of, premium, if any, and interest on the 2030 Notes shall be payable, and
the transfer of the 2030 Notes shall be registrable, at the office or agency of the Issuer to be maintained for such purpose in Minneapolis, Minnesota, except that, at the option of the Issuer, interest may be paid by sending a check to the address
of the person entitled thereto as it appears on the 2030 Notes register; provided, however, that while any 2030 Notes are represented by a Registered Global Security, payment of principal of, premium, if any, or interest on the 2030 Notes may
be made by wire transfer to the account of the Depositary or its nominee. 

  

	 	7.	 Optional Redemption. Prior to January 1, 2030, the 2030 Notes may be redeemed, in whole at any time
or in part from time to time, at the option of the Issuer, for cash, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed or (ii) an amount, as determined by the Quotation Agent, equal to the sum of the
present values of the remaining 

  
 A-1 

	 	
scheduled payments of principal and interest thereon that would be due if the 2030 Notes matured on January 1, 2030 (not including any portion of such payments of interest accrued to the
date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus
35 basis points, plus, in each case, accrued and unpaid interest, if any, thereon to, but not including, the date of redemption; provided that the principal amount of any 2030 Note remaining outstanding after a redemption in part shall be $2,000 or
a higher integral multiple of $1,000. Calculation of the redemption price will be made by the Issuer or on the Issuer’s behalf by such person as the Issuer designates; provided that such calculation or the correctness thereof shall not be a
duty or obligation of the Trustee. In addition, on or after January 1, 2030, the Issuer may redeem the 2030 Notes, in whole at any time or in part from time to time, at its option, for cash, at a redemption price equal to 100% of the principal
amount of the 2030 Notes, plus accrued and unpaid interest to, but not including, the redemption date. Notwithstanding the foregoing, installments of interest on 2030 Notes that are due and payable on interest payment dates falling on or prior to a
redemption date will be payable on the interest payment date to the registered Holders as of the close of business on the relevant record date. Notices will be sent (or on the case of 2030 Notes held in book-entry form, be transmitted
electronically) to Holders of the 2030 Notes to be redeemed at least 10 and not more than 60 days prior to the date fixed for redemption, except that redemption notices may be sent more than 60 days prior to a redemption if the notice is issued in
connection with a legal covenant defeasance of the 2030 Notes or a satisfaction and discharge of the 2030 Notes pursuant to Section 10.1 of the Indenture. Unless the Issuer defaults in payment of the redemption price, on and after the
redemption date, interest will cease to accrue on the 2030 Notes or portions thereof called for redemption. If less than all of the 2030 Notes are to be redeemed, the 2030 Notes to be redeemed will be selected by the Trustee by lot or in accordance
with the procedures of the Depositary. 

 “Comparable Treasury Issue” means the United States Treasury security
selected by the Quotation Agent as having a maturity comparable to the remaining term of the 2030 Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the 2030 Notes. 
 “Comparable Treasury Price” means, with respect to
any redemption date, (i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Issuer is provided fewer than
four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the Reference
Treasury Dealer appointed by the Issuer to act as the Quotation Agent from time to time. 
 “Reference Treasury Dealer” means
Goldman, Sachs & Co. LLC and its successors; provided, however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall substitute
therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 

  
 A-2 

 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any redemption date, the average, as determined by the Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Issuer by such
Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Treasury
Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price on such redemption date. 
  

	 	8.	 Change of Control Repurchase Event. If a Change of Control Repurchase Event occurs, unless the Issuer
has previously exercised its right to redeem the 2030 Notes in whole as described above, the Issuer will be required to make an offer to each Holder of 2030 Notes to repurchase all or any part (in minimum denominations of $2,000 and integral
multiples of $1,000 above that amount) of such Holder’s 2030 Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of 2030 Notes repurchased plus accrued and unpaid interest, if any, on the 2030 Notes repurchased
to, but not including, the date of such repurchase. Within 30 days following any Change of Control Repurchase Event or, at the Issuer’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control,
the Issuer will send a notice to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase 2030 Notes on the payment date
specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is sent (the “Change of Control Payment Date”). The notice shall, if sent prior to the date of consummation of the
Change of Control, state that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice. 

The Issuer will comply with the requirements of Rule 14e-1 under the Exchange Act, and any other
securities laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the 2030 Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any
securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the 2030 Notes, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations
under the Change of Control Repurchase Event provisions of the 2030 Notes by virtue of such conflict. 
 On the Change of Control Payment
Date, the Issuer will be required, to the extent lawful, to: 
  

	 	(a)	 accept for payment all 2030 Notes or portions of 2030 Notes (in minimum denominations of $2,000 and integral
multiples of $1,000 above that amount) properly tendered pursuant to the Issuer’s offer; 

  
 A-3 

	 	(b)	 deposit with the paying agent, no later than 11:00 a.m., New York City time, an amount equal to the aggregate
purchase price in respect of all 2030 Notes or portions of 2030 Notes properly tendered; and 

  

	 	(c)	 deliver or cause to be delivered to the Trustee for cancellation the 2030 Notes properly accepted, together
with an officers’ certificate stating the aggregate principal amount of 2030 Notes being repurchased by the Issuer. 

The paying agent will promptly send (or, in the case of 2030 Notes held in book-entry form, transmit electronically) to each Holder of 2030
Notes properly tendered the repurchase price for such 2030 Notes, and the Trustee will promptly authenticate and send (or cause to be transferred by book-entry) to each Holder a new 2030 Note equal in principal amount to any unrepurchased portion of
any 2030 Notes surrendered; provided, that each new 2030 Note will be in minimum denominations of $2,000 and integral multiples of $1,000 above that amount. The Trustee shall not be responsible for determining whether any Change of Control has
occurred and whether any Change of Control Repurchase Event with respect to the 2030 Notes has occurred. The Trustee shall not be responsible for monitoring our rating status or making any request upon any Rating Agency. 

The Issuer will not be required to make an offer to repurchase the 2030 Notes upon a Change of Control Repurchase Event if (i) a third
party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Issuer and the third party repurchases all 2030 Notes properly tendered and not withdrawn under its offer or (ii) a
valid notice of redemption of all of the 2030 Notes has been given, or will be given contemporaneously with the Change of Control Repurchase Event as described above. In addition, the Issuer will not repurchase any 2030 Notes if the notes have been
accelerated following an event of default, other than an acceleration following a default in the payment of the aggregate purchase price upon a Change of Control Repurchase Event. 

“Below Investment Grade Rating Event” means the 2030 Notes are rated below an Investment Grade Rating by each of the Rating Agencies
on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control
(which 60-day period shall be extended so long as the rating of the 2030 Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment
Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of
the definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Issuer that the reduction was the
result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below
Investment Grade Rating Event). 

  
 A-4 

 “Change of Control” means the occurrence of any of the following: (1) the
direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its
subsidiaries, taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Issuer or one of its subsidiaries; (2) the consummation of any transaction (including, without
limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner, directly or indirectly, of more than 50% of the then
outstanding number of shares of the Issuer’s voting stock; or (3) the adoption of a plan by the Issuer’s Board of Directors relating to the Issuer’s liquidation or dissolution. Notwithstanding the foregoing, a transaction will
not be deemed to result in a Change of Control if (a) the Issuer becomes a wholly-owned subsidiary of a holding company and (b) the holders of the voting stock of such holding company immediately following that transaction are
substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 
 “Change of Control
Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Investment Grade
Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 

“Moody’s” means Moody’s Investors Service, Inc., and its successors. 

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases to rate
the 2030 Notes or fails to make a rating of the 2030 Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the
Exchange Act, selected by the Issuer as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“S&P” means S&P Global Ratings, a division of S&P Global, Inc., and its successors. 

 

	 	9.	 Mandatory Redemption. Other than with respect to a Change of Control Repurchase Event as described
above, the 2030 Notes are not mandatorily redeemable. The 2030 Notes are not entitled to the benefit of a sinking fund or any analogous provisions. 

  

	 	10.	 Denominations. The 2030 Notes shall be issued initially in minimum denominations of $2,000 and shall be
issued in integral multiples of $1,000 in excess thereof. 

  

	 	11.	 Payment Currency. Principal and interest on the 2030 Notes shall be payable in Dollars.

  

	 	12.	 Payment Currency – Election. The principal of and interest on the 2030 Notes shall not be payable
in a currency other than Dollars. 

  
 A-5 

	 	13.	 Payment Currency – Index. The principal of and interest on the 2030 Notes shall not be determined
with reference to an index based on a coin or currency. 

  

	 	14.	 Registered Securities. The 2030 Notes shall be issued only as Registered Securities. The 2030 Notes
shall be issuable as Registered Global Securities. 

  

	 	15.	 Additional Amounts. The Issuer shall not pay additional amounts on the 2030 Notes held by a Person that
is not a U.S. Person in respect of taxes or similar charges withheld or deducted. 

  

	 	16.	 Definitive Certificates. Section 2.8 of the Indenture will govern the transferability of the 2030
Notes in definitive form. 

  

	 	17.	 Registrar; Paying Agent; Depositary. The Trustee shall initially serve as the registrar and the paying
agent for the 2030 Notes. The Depository Trust Company shall initially serve as the Depositary for the Registered Global Security representing the 2030 Notes. The transferor of any 2030 Note shall provide or cause to be provided to the Trustee all
information necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information
provided to it and shall have no responsibility to verify or ensure the accuracy of such information. In connection with any proposed exchange of a Global Note for a certificated note, there shall be provided to the Trustee all information necessary
to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information provided to it and
shall have no responsibility to verify or ensure the accuracy of such information. 

  

	 	18.	 Events of Default; Covenants. Other than as provided for in the Indenture, there shall be no deletions
from or modifications or additions to the Events of Default set forth in Section 5.1 of the Indenture with respect to the 2030 Notes. There shall be the following additions to the covenants of the Issuer set forth in Article III of the
Indenture with respect to the 2030 Notes: 

 Limitation on Liens. The Issuer covenants that, so long as any of the 2030 Notes
remain outstanding, it shall not, nor shall it permit any of its domestic wholly-owned subsidiaries to, create or assume any mortgage, pledge, security interest, lien, charge or encumbrance of any kind (each, a “Lien”) on any Principal
Property, whether now owned or hereafter acquired, in order to secure any Indebtedness, without effectively providing that the 2030 Notes shall be secured by a Lien ranking equal to and ratably with (or, at the Issuer’s option, senior to) such
secured Indebtedness until such time as such Indebtedness is no longer secured by such Lien, except that the foregoing restriction shall not apply to: 
  

	 	(a)	 Liens existing on the issue date of the 2030 Notes; 

 

	 	(b)	 Liens created in favor of the Holders of the 2030 Notes; 

 

	 	(c)	 Liens in favor of the Issuer or any of its subsidiaries; 

  
 A-6 

	 	(d)	 (i) Liens given to secure (or to secure Indebtedness incurred or guaranteed by the Issuer or any of its
domestic wholly-owned subsidiaries for the purpose of financing) the payment of all or any portion of the purchase price for the acquisition (including acquisition through merger or consolidation or the acquisition of a Person directly or indirectly
owning such property) of any Principal Property, including capital lease or purchase money transactions in connection with any such acquisition, or all or any portion of the cost of refurbishment, improvement, expansion, renovation, development or
construction of any Principal Property; provided that with respect to this clause (i), the Liens shall be given prior to, at the time of or within 18 months after such acquisition, or completion of such refurbishment, improvement, expansion,
renovation, development or construction, or the full operation of such Principal Property, whichever is latest, and shall attach solely to such Principal Property (including any refurbishments, improvements, expansions, renovations, development or
construction thereof or then or thereafter placed thereon) and any proceeds thereof; and (ii) Liens existing on all or any portion of any Principal Property at the time of acquisition thereof (including acquisition through merger or
consolidation or the acquisition of a Person then directly or indirectly owning such property) whether or not such existing Liens were given to secure (or to secure Indebtedness incurred or guaranteed by the Issuer or any of its domestic
wholly-owned subsidiaries for the purpose of financing) the payment of the purchase price of such property; 

  

	 	(e)	 Liens imposed by law, such as carrier’s, warehousemen’s and mechanic’s liens or other similar
Liens (including pledges or deposits) arising in the ordinary course of business; 

  

	 	(f)	 Liens on any Principal Property in favor of the United States of America or any state thereof, or in favor of
any other country, or any political subdivision, department, agency or instrumentality thereof to secure progress or other payments pursuant to any contract or statute or to secure Indebtedness incurred or guaranteed for the purpose of financing all
or any portion of the cost of acquiring, refurbishing, improving, expanding, renovating, developing or constructing such Principal Property, including Liens incurred in connection with pollution control, industrial revenue or similar financing;

  

	 	(g)	 Liens to secure the performance of bids, trade or commercial contracts (including insurance contracts),
government contracts, purchase, construction, sales and servicing contracts (including utility contracts), leases, public, statutory or regulatory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of a like
nature, in each case in the ordinary course of business, deposits as security for contested taxes, import or other customs, duties, liabilities to insurance carriers or for the payment of rent and Liens to secure letters of credit, guarantees, bonds
or other sureties given in connection with the foregoing or in connection with workers’ compensation, unemployment insurance or other types of social security or similar laws and regulations; 

 

	 	(h)	 Liens consisting of easements, rights of way, minor encroachments, protrusions, municipal and zoning and
building ordinances and similar charges, encumbrances, title defects or other irregularities, governmental restrictions on the use of property or conduct of business, and Liens in favor of governmental authorities and public utilities, that do not
materially interfere with the ordinary course of the Issuer’s business and the business of the Issuer’s subsidiaries, taken as a whole; 

  
 A-7 

	 	(i)	 Liens created by or resulting from any litigation or other proceeding which is being contested in good faith by
appropriate proceedings, including Lens arising out of judgments or awards against the Issuer or any of its domestic wholly-owned subsidiaries with respect to which the Issuer or such domestic wholly-owned subsidiary is in good faith prosecuting an
appeal or proceedings for review or for which the time to make an appeal has not yet expired; or final unappealable judgment Liens which are satisfied within 15 days of the date of judgment; or Liens incurred by the Issuer or any of its domestic
wholly-owned subsidiaries for the purpose of obtaining a stay or discharge in the course of any litigation or other proceeding to which the Issuer or such domestic wholly-owned subsidiary is a party; 

 

	 	(j)	 Liens for certain taxes or assessments, landlord’s Liens and Liens and charges, in each case (i) not
yet due or payable or subject to penalties for non-payment or which the Issuer is contesting in good faith by appropriate proceedings and (ii) incidental to the conduct of the business or the ownership of
the Issuer’s assets or those of one of its subsidiaries; 

  

	 	(k)	 Liens incurred in connection with an acquisition of assets or a project financed on a non-recourse basis; 

  

	 	(l)	 Liens incurred or assumed in connection with the issuance of revenue bonds the interest on which is exempt from
federal taxation pursuant to Section 103 of the Internal Revenue Code (or any successor statute); and 

  

	 	(m)	 Liens which are incurred to extend, renew, substitute, refinance, refund or replace (and successive extensions,
renewals, substitutions, refinancings, refundings or replacements) any Lien, or any Indebtedness which is secured by any Lien (including any premium required to be paid and costs and expenses incurred in connection with such extensions, renewals,
substitutions, refinancings, refundings or replacements), permitted to be created or incurred under the Indenture. 

Notwithstanding the above, the Issuer or any of its domestic wholly-owned subsidiaries may, without equally and ratably securing the 2030
Notes, create or incur Liens which would otherwise be subject to the restrictions set forth in the preceding paragraph, if after giving effect thereto, Aggregate Debt does not exceed 15% of the Issuer’s Consolidated Net Tangible Assets on a
consolidated basis calculated as of the date of the creation or incurrence of the Lien. 
 Limitation on Sale and Leaseback Transactions. The Issuer
covenants that, so long as any of the 2030 Notes remain outstanding, it shall not, nor shall it permit any of its domestic wholly-owned subsidiaries to, enter into any arrangement with any Person providing for the leasing by the Issuer or any of its
domestic wholly-owned subsidiaries of any Principal Property, whether now owned or hereafter acquired, that has been or is to be sold or transferred by the Issuer or such of its domestic wholly-owned subsidiaries to such Person with the intention of
taking back a lease of such Principal Property, a “sale and leaseback transaction,” unless: 
  

	 	(a)	 the Issuer or such domestic wholly-owned subsidiary would be entitled, at the effective date of the sale or
transfer, to incur Indebtedness secured by a Lien on the Principal Property to be leased in an amount equal to Attributable Debt with respect to the sale and leaseback transaction, without equally and ratably securing the 2030 Notes pursuant to the
first paragraph of “—Limitation on Liens” above; 

  
 A-8 

	 	(b)	 the net proceeds of the sale or transfer of the Principal Property to be leased are applied within 365 days of
the effective date of the sale and leaseback transaction to the purchase, construction, development, expansion, improvement or acquisition of other property or to the repayment of any series of the Issuer’s notes or any of the Issuer’s
other Indebtedness (other than Indebtedness that is contractually subordinated to the 2030 Notes) or any Indebtedness of one or more of the Issuer’s subsidiaries; 

 

	 	(c)	 such sale and leaseback transaction was entered into prior to the closing date of the offering of the 2030
Notes or any extension, renewal, refinancing, replacement, amendment or modification of such transaction so long as the affected Principal Property is substantially the same as or similar in nature to the Principal Property subject to the sale and
leaseback transaction extended, renewed, refinanced, replaced, amended or modified; 

  

	 	(d)	 such sale and leaseback transaction involves a lease for not more than three years (or which may be terminated
by the Issuer or one of its domestic wholly-owned subsidiaries within a period of not more than three years); or 

  

	 	(e)	 such sale and leaseback transaction with respect to any Principal Property was between only the Issuer and one
of its subsidiaries or only between the Issuer’s subsidiaries. 

 Notwithstanding the foregoing, the Issuer or any of
its domestic wholly-owned subsidiaries may enter into a sale and leaseback transaction, without complying with the requirements of the preceding paragraph, if, after giving effect thereto, Aggregate Debt does not exceed 15% of the Issuer’s
Consolidated Net Tangible Assets on a consolidated basis calculated as of the date of the sale and leaseback transaction. 
 “Aggregate
Debt” means the sum of the following, as of the date of determination, (1) the aggregate principal amount of the Issuer’s and its domestic wholly-owned subsidiaries’ Indebtedness incurred after the closing date of the offering of
the 2030 Notes and secured by Liens incurred pursuant to the second paragraph under “—Limitation on Liens” above and (2) the Issuer’s and its domestic wholly-owned subsidiaries’ Attributable Debt in respect of sale and
leaseback transactions entered into after the closing date of the offering of the 2030 Notes pursuant to the second paragraph under “—Limitation on Sale and Leaseback Transactions” above. 

“Attributable Debt” means, in connection with a sale and leaseback transaction, the lesser of: (1) the fair market value of the
assets subject to such sale and leaseback transaction, as determined in good faith by the Issuer’s Board of Directors; and (2) the present value of the obligations of the lessee for net rental payments during the term of the related lease
discounted at the rate of interest set forth or implicit in the terms of such lease or, if not practicable to determine such rate, the weighted average interest rate per annum borne by the debt securities of each series outstanding pursuant to the
Indenture and subject to limitations on sale and leaseback transaction covenants, compounded semi-annually in either case as determined by the Issuer’s principal accounting or financial officer. 

“Consolidated Net Tangible Assets” means, as of any date of determination, the aggregate amount of assets after deducting therefrom:
(1) all current liabilities, except for notes and loans payable, current maturities of long-term debt, current portion of convertible securities, current portion of deferred revenue and obligations under capital leases; and (2) intangible
assets to the extent included in 

  
 A-9 

 
the aggregate amount of assets, net of applicable reserves and any amortized amounts, all as reflected on the Issuer’s most recent consolidated balance sheet prepared in accordance with
GAAP. 
 “GAAP” means accounting principles generally accepted in the United States of America, which are in effect as of the date
of application thereof. 
 “Indebtedness” of any specified Person means, without duplication, any indebtedness, whether or not
contingent, in respect of borrowed money or that is evidenced by bonds, notes, debentures or similar instruments, if and to the extent any of the foregoing indebtedness would appear as a liability upon an unconsolidated balance sheet of such Person
(but does not include contingent liabilities which appear only in a footnote to a balance sheet). In addition, the term “Indebtedness” includes any guarantee by the specified Person of Indebtedness of any other Person, whether or not any
such items would appear as a liability on a balance sheet of the specified Person in accordance with GAAP. 
 “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 Property” means any single parcel of real property or any permanent improvement thereon (1) owned by the Issuer or
any of its domestic wholly-owned subsidiaries located in the United States, including the Issuer’s principal corporate office, any manufacturing facility or plant or any portion thereof and (2) having a book value, as of the date of
determination, in excess of 3% of the Issuer’s most recently calculated Consolidated Net Tangible Assets. Principal Property does not include any property that the Issuer’s Board of Directors has determined not to be of material importance
to the business conducted by the Issuer and its subsidiaries, taken as a whole. 
  

	 	19.	 Conversion and Exchange. The 2030 Notes shall not be convertible into or exchangeable for any other
security. 

  

	 	20.	 Additional Issues. The Issuer may, without notice to or the consent of the Holders of the 2030 Notes,
create and issue additional notes with the same terms as the 2030 Notes in all respects, except for the issue date, the public offering price and, under certain circumstances, the first interest payment date. Such additional notes shall be
consolidated and form a single series with the 2030 Notes; provided that if such additional notes are not fungible with the 2030 Notes for U.S. federal income tax purposes, such additional notes will have a separate CUSIP number.

  

	 	21.	 Other Terms. The 2030 Notes shall have the other terms and shall be substantially in the form set forth
in the form of the 2030 Notes attached hereto as Annex A-1. In case of any conflict between this Annex A and the form of the 2030 Notes, the form of the 2030 Notes shall control. 

Capitalized terms used but not otherwise defined in this Annex A shall have the respective meanings ascribed to such terms in the Indenture.

  
 A-10 

 ANNEX A-1 

[FORM OF 2030 Note] 
  

			
	REGISTERED	  	REGISTERED

 THIS NOTE IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE
NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS AND UNTIL THIS NOTE IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE REGISTERED FORM, THIS NOTES MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO THE NOMINEE OF THE
DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. 

 

			
	No. [    ]	  	CUSIP NO. 67066G AF1
		  	ISIN NO. US67066GAF19

 NVIDIA CORPORATION 

2.850% Notes due 2030 
 NVIDIA
Corporation, a Delaware corporation (the “Issuer,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of              Dollars ($        ) on April 1, 2030 and to pay interest on said principal sum from March 31, 2020, or from
the most recent interest payment date to which interest has been paid or duly provided for, semi-annually in arrears on April 1 and October 1 (each such date, an “Interest Payment Date”) of each year commencing on October 1,
2020, at the rate of 2.850% per annum until the principal hereof shall have become due and payable. 
 The amount of interest payable on any
Interest Payment Date shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event that any date on which the principal or interest
payable on this Note is not a Business Day, then payment of principal or interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of such delay). The interest
installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture (referred to on the reverse hereof) be paid to the person in whose name this Note is registered at the close of
business on the record date for such interest installment, which shall be the close of business on the immediately preceding March 16 and September 16 prior to such Interest Payment Date, as applicable. Any such interest installment not
punctually paid or duly provided for shall forthwith cease to be payable to the registered Holders on such record date and may be paid to the person in whose name this Note is registered at the close of business on a subsequent record date (which
shall be not less than five Business Days prior to the date of payment of such defaulted interest), notice whereof shall be sent by or on behalf of the Issuer to the registered Holders of Notes not less than 15 days preceding such subsequent record
date, all as more fully provided in the Indenture. The principal of and the interest on this Note shall be payable at the office or agency of the Issuer maintained for that purpose in any coin or currency of the United States of America that at the
time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Issuer by check sent to the person entitled thereto at such address as shall appear
in the registry books of the Issuer; provided, further, that for so long as this Note is represented by a Registered Global Security, payment of principal, premium, if any, or interest on this Note may be made by wire transfer to the
account of the Depositary or its nominee. 

  
 A-1-1 

 Unless the certificate of authentication hereon has been executed by or on behalf of the
Trustee (as defined below) under the Indenture (as defined below), by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

Capitalized terms used in this Note which are defined in the Indenture shall have the respective meanings assigned to them in the Indenture.

 The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have the same
effect as though fully set forth at this place. 

  
 A-1-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed, manually or
in facsimile. 
  

			
	NVIDIA CORPORATION

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities 
 referred to in the
within-mentioned 
 Indenture. 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
as Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

		
	Dated:	 	  

  

  
 A-1-3 

 [FORM OF REVERSE SIDE OF NOTE] 

This Note is one of a duly authorized series of securities (the “Securities”) of the Issuer designated as its 2.850% Notes due 2030
(the “Notes”). The Securities are all issued or to be issued under and pursuant to an Indenture, dated as of September 16, 2016 (the “Indenture”), duly executed and delivered between the Issuer and Wells Fargo Bank, National
Association as trustee with respect to the Notes (the “Trustee”), to which the Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Issuer, the Trustee and
the Holders of the Securities and the terms upon which the Notes are to be authenticated and delivered. The terms of individual series of Securities may vary with respect to interest rate or interest rate formulas, issue dates, maturity, redemption,
repayment, currency of payment and otherwise. 
 The Notes are issuable only as Registered Securities in minimum denominations of $2,000 and
integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes as requested by the Holder surrendering the
same. 
 Except as set forth below, this Note is not redeemable. This Note is not entitled to the benefit of a sinking fund or any analogous
provision. 
 Prior to January 1, 2030, the Notes may be redeemed, in whole at any time or in part from time to time, at the option of
the Issuer, for cash, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed or (ii) an amount, as determined by the Quotation Agent, equal to the sum of the present values of the remaining scheduled
payments of principal and interest thereon that would be due if the Notes matured on January 1, 2030 (not including any portion of such payments of interest accrued to the date of redemption), discounted to the date of redemption on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points, plus, in each case, accrued and unpaid
interest, if any, thereon to, but not including, the date of redemption; provided that the principal amount of any Note remaining outstanding after a redemption in part shall be $2,000 or a higher integral multiple of $1,000. Calculation of the
redemption price will be made by the Issuer or on the Issuer’s behalf by such person as the Issuer designates; provided that such calculation or the correctness thereof shall not be a duty or obligation of the Trustee. In addition, on or after
January 1, 2030, the Issuer may redeem the Notes, in whole at any time or in part from time to time, at its option, for cash, at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but not
including, the redemption date. Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable on the interest payment date to the
registered Holders as of the close of business on the relevant record date. Notices will be sent (or in the case of Notes held in book-entry form, be transmitted electronically) to Holders of the Notes to be redeemed at least 10 and not more than 60
days prior to the date fixed for redemption, except that redemption notices may be sent more than 60 days prior to a redemption if the notice is issued in connection with a legal covenant defeasance of the Notes or a satisfaction and or discharge of
the Notes pursuant to Section 10.1 of the Indenture. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption. If less
than all of the Notes are to be redeemed, the Notes to be redeemed will be selected by the Trustee by lot or in accordance with the procedures of the Depositary. 

  
 A-1-4 

 “Comparable Treasury Issue” means the United States Treasury security selected by
the Quotation Agent as having a maturity comparable to the remaining term of the Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of the Notes. 
 “Comparable Treasury Price” means, with respect to any redemption date,
(i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Issuer is provided fewer than four such Reference
Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the Reference Treasury Dealer appointed
by the Issuer to act as the Quotation Agent from time to time. 
 “Reference Treasury Dealer” means Goldman, Sachs & Co.
LLC and its successors; provided, however, that the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury
Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Issuer by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity
of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price on such redemption date. 

If a Change of Control Repurchase Event occurs, unless the Issuer has previously exercised its right to redeem the Notes in whole as described
above, the Issuer will be required to make an offer to each Holder of Notes to repurchase all or any part (in minimum denominations of $2,000 and integral multiples of $1,000 above that amount) of such Holder’s Notes at a repurchase price in
cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to, but not including, the date of such repurchase. Within 30 days following any Change of Control
Repurchase Event or, at the Issuer’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control, the Issuer will send a notice to each Holder, with a copy to the Trustee, describing the
transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase Notes on the payment date specified in the notice, which date will be no earlier than 30 days and no later than 60 days
from the date such notice is sent (the “Change of Control Payment Date”). The notice shall, if sent prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control
Repurchase Event occurring on or prior to the payment date specified in the notice. 
 The Issuer will comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder, to the extent those laws and regulations are applicable in
connection with the 

  
 A-1-5 

 
repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase
Event provisions of the Notes, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the Notes by virtue of such
conflict. 
 On the Change of Control Payment Date, the Issuer will be required, to the extent lawful, to: 

 

	 	(a)	 accept for payment all Notes or portions of Notes (in minimum denominations of $2,000 and integral multiples of
$1,000 above that amount) properly tendered pursuant to the Issuer’s offer; 

  

	 	(b)	 deposit with the paying agent, no later than 11:00 a.m., New York City time, an amount equal to the aggregate
purchase price in respect of all Notes or portions of Notes properly tendered; and 

  

	 	(c)	 deliver or cause to be delivered to the Trustee for cancellation the Notes properly accepted, together with an
officers’ certificate stating the aggregate principal amount of Notes being repurchased by the Issuer. 

 The paying
agent will promptly send (or, in the case of Notes held in book-entry form, transmit electronically) to each Holder of Notes properly tendered the repurchase price for such Notes, and the Trustee will promptly authenticate and send (or cause to be
transferred by book-entry) to each Holder a new Note equal in principal amount to any unrepurchased portion of any Notes surrendered; provided, that each new Note will be in minimum denominations of $2,000 and integral multiples of $1,000 above that
amount. 
 The Issuer will not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if (i) a
third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Issuer and the third party repurchases all Notes properly tendered and not withdrawn under its offer or
(ii) a valid notice of redemption of all of the Notes has been given, or will be given contemporaneously with the Change of Control Repurchase Event as described above. In addition, the Issuer will not repurchase any Notes if the notes have
been accelerated following an event of default, other than an acceleration following a default in the payment of the aggregate purchase price upon a Change of Control Repurchase Event. 

“Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on
any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control
(which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment Grade
Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the
definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Issuer that the reduction was the
result, in whole or in part, 

  
 A-1-6 

 
of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the
time of the Below Investment Grade Rating Event). 
 “Change of Control” means the occurrence of any of the following:
(1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its
subsidiaries, taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Issuer or one of its subsidiaries; (2) the consummation of any transaction (including, without
limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner, directly or indirectly, of more than 50% of the then
outstanding number of shares of the Issuer’s voting stock; or (3) the adoption of a plan by the Issuer’s Board of Directors relating to the Issuer’s liquidation or dissolution. Notwithstanding the foregoing, a transaction will
not be deemed to result in a Change of Control if (a) the Issuer becomes a wholly-owned subsidiary of a holding company and (b) the holders of the voting stock of such holding company immediately following that transaction are
substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 
 “Change of Control
Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Investment Grade
Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 

“Moody’s” means Moody’s Investors Service, Inc., and its successors. 

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases to rate
the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange
Act, selected by the Issuer as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 
 “S&P”
means S&P Global Ratings, a division of S&P Global, Inc., and its successors. 
 If an Event of Default with respect to the Notes
shall occur and be continuing, the principal of all the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of the Holders of not less than a majority in
aggregate principal amount of the Senior Securities or Subordinated Securities, as the case may be, of all series issued under such Indenture then outstanding and affected (each voting as one class), to add any provisions to, or change in any
manner, eliminate or waive any of the provisions of, such Indenture or modify in any manner the rights of the Holders of the Securities or Coupons so affected; provided that the Issuer and the Trustee, may not, without the consent
of the Holder of each Outstanding Security affected thereby, (i) extend the final maturity of the principal of any Security or reduce the principal amount thereof or premium thereon, if any, or reduce the rate or extend the time of payment of
interest thereon, or reduce any amount payable on redemption thereof or change the currency in which the principal thereof (other 

  
 A-1-7 

 
than as otherwise may be provided with respect to such series), premium, if any, or interest thereon is payable or reduce the amount of the principal of any Original Issue Discount Security that
is payable upon acceleration or provable in bankruptcy, or in the case of Subordinated Securities of any series, modify any of the subordination provisions or the definition of “Senior Indebtedness” relating to such series in a manner
adverse to the Holders of such Subordinated Securities, or alter certain provisions of the Indenture relating to Securities not denominated in Dollars or the Judgment Currency of such Securities or impair or affect the right of any Securityholder to
institute suit for the enforcement of any payment thereof when due or, if the Securities provide therefor, any right of repayment at the option of the Securityholder or (ii) reduce the aforesaid percentage in principal amount of Securities of
any series issued under the Indenture, the consent of the Holders of which is required for any such modification. It is also provided in the Indenture that, with respect to certain defaults or Events of Default regarding the Securities of any
series, the Holders of a majority in aggregate principal amount Outstanding of the Securities of each such series, each such series voting as a separate class (or, of all Securities, as the case may be voting as a single class) may under certain
circumstances waive all defaults with respect to each such series (or with respect to all the Securities, as the case may be) and rescind and annul a declaration of default and its consequences, but no such waiver or rescission and annulment shall
extend to or affect any subsequent default or shall impair any right consequent thereto. 
 No reference herein to the Indenture and no
provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the time, place and rate, and in the coin or currency, herein
prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be
registered on the registry books of the Issuer, upon surrender of this Note for registration of transfer at the office or agency of the Issuer maintained by the Issuer for such purpose in Minneapolis, Minnesota, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the Holder hereof or by its attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same
aggregate principal amount will be issued to the designated transferee or transferees. 
 No service charge shall be made for any such
registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may
treat the person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary. 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

  
 A-1-8 

 [FORM OF SCHEDULE FOR ENDORSEMENTS ON REGISTERED 

GLOBAL SECURITIES TO REFLECT CHANGES IN PRINCIPAL AMOUNT] 

Schedule A 
 Changes to Principal
Amount of Registered Global Securities 
  

							
	 Date
	 	 Principal Amount

of Notes
 by which this Registered
Global
Security is to be
 Reduced or Increased,

and Reason for

Reduction or Increase
	 	 Remaining Principal

Amount of this
 Registered

Global Security
	 	 Notation Made By

	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 

  
 A-1-9 

 ANNEX B 

Pursuant to Section 2.3 of the Indenture, dated as of September 16, 2016 (the “Indenture”), between NVIDIA Corporation, a
Delaware corporation (the “Issuer”), and Wells Fargo Bank, National Association, as trustee (the “Trustee”), the terms of a series of securities to be issued pursuant to the Indenture are as follows: 

 

	 	1.	 Designation. The designation of the securities is “3.500% Notes due 2040” (the “2040
Notes”). 

  

	 	2.	 Initial Aggregate Principal Amount. The 2040 Notes shall be limited in initial aggregate principal
amount to $1,000,000,000 (except for 2040 Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other 2040 Notes pursuant to Section 2.8, 2.9, 2.11, 8.5 or 12.3 of the Indenture).

  

	 	3.	 Currency Denomination. The 2040 Notes shall be denominated in Dollars. 

 

	 	4.	 Maturity. The date on which the principal of the 2040 Notes is payable is April 1, 2040.

  

	 	5.	 Rate of Interest; Interest Payment Date; Regular Record Dates. Each 2040 Note shall bear interest from
March 31, 2020 at 3.500% per annum until the principal thereof is paid. Such interest shall be payable semi-annually in arrears on April 1 and October 1 of each year, commencing on October 1, 2020, to the persons in whose names
the 2040 Notes are registered at the close of business on the immediately preceding March 16 and September 16, respectively. Interest on the 2040 Notes shall accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from March 31, 2020. Interest on the 2040 Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the
event that any date on which principal, premium, if any, or interest is payable on the 2040 Notes is not a Business Day, then payment of the principal, premium, if any, or interest payable on such date will be made on the next succeeding day that is
a Business Day (and without any interest or other payment in respect of any such delay). 

  

	 	6.	 Place of Payment. Principal of, premium, if any, and interest on the 2040 Notes shall be payable, and
the transfer of the 2040 Notes shall be registrable, at the office or agency of the Issuer to be maintained for such purpose in Minneapolis, Minnesota, except that, at the option of the Issuer, interest may be paid by sending a check to the address
of the person entitled thereto as it appears on the 2040 Notes register; provided, however, that while any 2040 Notes are represented by a Registered Global Security, payment of principal of, premium, if any, or interest on the 2040 Notes may
be made by wire transfer to the account of the Depositary or its nominee. 

  

	 	7.	 Optional Redemption. Prior to October 1, 2039, the 2040 Notes may be redeemed, in whole at any time
or in part from time to time, at the option of the Issuer, for cash, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed or (ii) an amount, as determined by the Quotation Agent, equal to the sum of the
present values of the remaining 

  
 B-1 

	 	
scheduled payments of principal and interest thereon that would be due if the 2040 Notes matured on October 1, 2039 (not including any portion of such payments of interest accrued to the
date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus
35 basis points, plus, in each case, accrued and unpaid interest, if any, thereon to, but not including, the date of redemption; provided that the principal amount of any 2040 Note remaining outstanding after a redemption in part shall be $2,000 or
a higher integral multiple of $1,000. Calculation of the redemption price will be made by the Issuer or on the Issuer’s behalf by such person as the Issuer designates; provided that such calculation or the correctness thereof shall not be a
duty or obligation of the Trustee. In addition, on or after October 1, 2039, the Issuer may redeem the 2040 Notes, in whole at any time or in part from time to time, at its option, for cash, at a redemption price equal to 100% of the principal
amount of the 2040 Notes, plus accrued and unpaid interest to, but not including, the redemption date. Notwithstanding the foregoing, installments of interest on 2040 Notes that are due and payable on interest payment dates falling on or prior to a
redemption date will be payable on the interest payment date to the registered Holders as of the close of business on the relevant record date. Notices will be sent (or on the case of 2040 Notes held in book-entry form, be transmitted
electronically) to Holders of the 2040 Notes to be redeemed at least 10 and not more than 60 days prior to the date fixed for redemption, except that redemption notices may be sent more than 60 days prior to a redemption if the notice is issued in
connection with a legal covenant defeasance of the 2040 Notes or a satisfaction and discharge of the 2040 Notes pursuant to Section 10.1 of the Indenture. Unless the Issuer defaults in payment of the redemption price, on and after the
redemption date, interest will cease to accrue on the 2040 Notes or portions thereof called for redemption. If less than all of the 2040 Notes are to be redeemed, the 2040 Notes to be redeemed will be selected by the Trustee by lot or in accordance
with the procedures of the Depositary. 

 “Comparable Treasury Issue” means the United States Treasury security
selected by the Quotation Agent as having a maturity comparable to the remaining term of the 2040 Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the 2040 Notes. 
 “Comparable Treasury Price” means, with respect to
any redemption date, (i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Issuer is provided fewer than
four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the Reference
Treasury Dealer appointed by the Issuer to act as the Quotation Agent from time to time. 
 “Reference Treasury Dealer” means
Goldman, Sachs & Co. LLC and its successors; provided, however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall substitute
therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 

  
 B-2 

 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any redemption date, the average, as determined by the Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Issuer by such
Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Treasury
Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price on such redemption date. 
  

	 	8.	 Change of Control Repurchase Event. If a Change of Control Repurchase Event occurs, unless the Issuer
has previously exercised its right to redeem the 2040 Notes in whole as described above, the Issuer will be required to make an offer to each Holder of 2040 Notes to repurchase all or any part (in minimum denominations of $2,000 and integral
multiples of $1,000 above that amount) of such Holder’s 2040 Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of 2040 Notes repurchased plus accrued and unpaid interest, if any, on the 2040 Notes repurchased
to, but not including, the date of such repurchase. Within 30 days following any Change of Control Repurchase Event or, at the Issuer’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control,
the Issuer will send a notice to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase 2040 Notes on the payment date
specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is sent (the “Change of Control Payment Date”). The notice shall, if sent prior to the date of consummation of the
Change of Control, state that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice. 

The Issuer will comply with the requirements of Rule 14e-1 under the Exchange Act, and any other
securities laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the 2040 Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any
securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the 2040 Notes, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations
under the Change of Control Repurchase Event provisions of the 2040 Notes by virtue of such conflict. 
 On the Change of Control Payment
Date, the Issuer will be required, to the extent lawful, to: 
  

	 	(d)	 accept for payment all 2040 Notes or portions of 2040 Notes (in minimum denominations of $2,000 and integral
multiples of $1,000 above that amount) properly tendered pursuant to the Issuer’s offer; 

  
 B-3 

	 	(e)	 deposit with the paying agent, no later than 11:00 a.m., New York City time, an amount equal to the aggregate
purchase price in respect of all 2040 Notes or portions of 2040 Notes properly tendered; and 

  

	 	(f)	 deliver or cause to be delivered to the Trustee for cancellation the 2040 Notes properly accepted, together
with an officers’ certificate stating the aggregate principal amount of 2040 Notes being repurchased by the Issuer. 

The paying agent will promptly send (or, in the case of 2040 Notes held in book-entry form, transmit electronically) to each Holder of 2040
Notes properly tendered the repurchase price for such 2040 Notes, and the Trustee will promptly authenticate and send (or cause to be transferred by book-entry) to each Holder a new 2040 Note equal in principal amount to any unrepurchased portion of
any 2040 Notes surrendered; provided, that each new 2040 Note will be in minimum denominations of $2,000 and integral multiples of $1,000 above that amount. The Trustee shall not be responsible for determining whether any Change of Control has
occurred and whether any Change of Control Repurchase Event with respect to the 2040 Notes has occurred. The Trustee shall not be responsible for monitoring our rating status or making any request upon any Rating Agency. 

The Issuer will not be required to make an offer to repurchase the 2040 Notes upon a Change of Control Repurchase Event if (i) a third
party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Issuer and the third party repurchases all 2040 Notes properly tendered and not withdrawn under its offer or (ii) a
valid notice of redemption of all of the 2040 Notes has been given, or will be given contemporaneously with the Change of Control Repurchase Event as described above. In addition, the Issuer will not repurchase any 2040 Notes if the notes have been
accelerated following an event of default, other than an acceleration following a default in the payment of the aggregate purchase price upon a Change of Control Repurchase Event. 

“Below Investment Grade Rating Event” means the 2040 Notes are rated below an Investment Grade Rating by each of the Rating Agencies
on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control
(which 60-day period shall be extended so long as the rating of the 2040 Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment
Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of
the definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Issuer that the reduction was the
result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below
Investment Grade Rating Event). 

  
 B-4 

 “Change of Control” means the occurrence of any of the following: (1) the
direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its
subsidiaries, taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Issuer or one of its subsidiaries; (2) the consummation of any transaction (including, without
limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner, directly or indirectly, of more than 50% of the then
outstanding number of shares of the Issuer’s voting stock; or (3) the adoption of a plan by the Issuer’s Board of Directors relating to the Issuer’s liquidation or dissolution. Notwithstanding the foregoing, a transaction will
not be deemed to result in a Change of Control if (a) the Issuer becomes a wholly-owned subsidiary of a holding company and (b) the holders of the voting stock of such holding company immediately following that transaction are
substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 
 “Change of Control
Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Investment Grade
Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 

“Moody’s” means Moody’s Investors Service, Inc., and its successors. 

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases to rate
the 2040 Notes or fails to make a rating of the 2040 Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the
Exchange Act, selected by the Issuer as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“S&P” means S&P Global Ratings, a division of S&P Global, Inc., and its successors. 

 

	 	9.	 Mandatory Redemption. Other than with respect to a Change of Control Repurchase Event as described
above, the 2040 Notes are not mandatorily redeemable. The 2040 Notes are not entitled to the benefit of a sinking fund or any analogous provisions. 

  

	 	10.	 Denominations. The 2040 Notes shall be issued initially in minimum denominations of $2,000 and shall be
issued in integral multiples of $1,000 in excess thereof. 

  

	 	11.	 Payment Currency. Principal and interest on the 2040 Notes shall be payable in Dollars.

  

	 	12.	 Payment Currency – Election. The principal of and interest on the 2040 Notes shall not be payable
in a currency other than Dollars. 

  
 B-5 

	 	13.	 Payment Currency – Index. The principal of and interest on the 2040 Notes shall not be determined
with reference to an index based on a coin or currency. 

  

	 	14.	 Registered Securities. The 2040 Notes shall be issued only as Registered Securities. The 2040 Notes
shall be issuable as Registered Global Securities. 

  

	 	15.	 Additional Amounts. The Issuer shall not pay additional amounts on the 2040 Notes held by a Person that
is not a U.S. Person in respect of taxes or similar charges withheld or deducted. 

  

	 	16.	 Definitive Certificates. Section 2.8 of the Indenture will govern the transferability of the 2040
Notes in definitive form. 

  

	 	17.	 Registrar; Paying Agent; Depositary. The Trustee shall initially serve as the registrar and the paying
agent for the 2040 Notes. The Depository Trust Company shall initially serve as the Depositary for the Registered Global Security representing the 2040 Notes. The transferor of any 2040 Note shall provide or cause to be provided to the Trustee all
information necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information
provided to it and shall have no responsibility to verify or ensure the accuracy of such information. In connection with any proposed exchange of a Global Note for a certificated note, there shall be provided to the Trustee all information necessary
to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information provided to it and
shall have no responsibility to verify or ensure the accuracy of such information. 

  

	 	18.	 Events of Default; Covenants. Other than as provided for in the Indenture, there shall be no deletions
from or modifications or additions to the Events of Default set forth in Section 5.1 of the Indenture with respect to the 2040 Notes. There shall be the following additions to the covenants of the Issuer set forth in Article III of the
Indenture with respect to the 2040 Notes: 

 Limitation on Liens. The Issuer covenants that, so long as any of the 2040 Notes
remain outstanding, it shall not, nor shall it permit any of its domestic wholly-owned subsidiaries to, create or assume any mortgage, pledge, security interest, lien, charge or encumbrance of any kind (each, a “Lien”) on any Principal
Property, whether now owned or hereafter acquired, in order to secure any Indebtedness, without effectively providing that the 2040 Notes shall be secured by a Lien ranking equal to and ratably with (or, at the Issuer’s option, senior to) such
secured Indebtedness until such time as such Indebtedness is no longer secured by such Lien, except that the foregoing restriction shall not apply to: 
  

	 	(a)	 Liens existing on the issue date of the 2040 Notes; 

 

	 	(b)	 Liens created in favor of the Holders of the 2040 Notes; 

 

	 	(c)	 Liens in favor of the Issuer or any of its subsidiaries; 

  
 B-6 

	 	(d)	 (i) Liens given to secure (or to secure Indebtedness incurred or guaranteed by the Issuer or any of its
domestic wholly-owned subsidiaries for the purpose of financing) the payment of all or any portion of the purchase price for the acquisition (including acquisition through merger or consolidation or the acquisition of a Person directly or indirectly
owning such property) of any Principal Property, including capital lease or purchase money transactions in connection with any such acquisition, or all or any portion of the cost of refurbishment, improvement, expansion, renovation, development or
construction of any Principal Property; provided that with respect to this clause (i), the Liens shall be given prior to, at the time of or within 18 months after such acquisition, or completion of such refurbishment, improvement, expansion,
renovation, development or construction, or the full operation of such Principal Property, whichever is latest, and shall attach solely to such Principal Property (including any refurbishments, improvements, expansions, renovations, development or
construction thereof or then or thereafter placed thereon) and any proceeds thereof; and (ii) Liens existing on all or any portion of any Principal Property at the time of acquisition thereof (including acquisition through merger or
consolidation or the acquisition of a Person then directly or indirectly owning such property) whether or not such existing Liens were given to secure (or to secure Indebtedness incurred or guaranteed by the Issuer or any of its domestic
wholly-owned subsidiaries for the purpose of financing) the payment of the purchase price of such property; 

  

	 	(e)	 Liens imposed by law, such as carrier’s, warehousemen’s and mechanic’s liens or other similar
Liens (including pledges or deposits) arising in the ordinary course of business; 

  

	 	(f)	 Liens on any Principal Property in favor of the United States of America or any state thereof, or in favor of
any other country, or any political subdivision, department, agency or instrumentality thereof to secure progress or other payments pursuant to any contract or statute or to secure Indebtedness incurred or guaranteed for the purpose of financing all
or any portion of the cost of acquiring, refurbishing, improving, expanding, renovating, developing or constructing such Principal Property, including Liens incurred in connection with pollution control, industrial revenue or similar financing;

  

	 	(g)	 Liens to secure the performance of bids, trade or commercial contracts (including insurance contracts),
government contracts, purchase, construction, sales and servicing contracts (including utility contracts), leases, public, statutory or regulatory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of a like
nature, in each case in the ordinary course of business, deposits as security for contested taxes, import or other customs, duties, liabilities to insurance carriers or for the payment of rent and Liens to secure letters of credit, guarantees, bonds
or other sureties given in connection with the foregoing or in connection with workers’ compensation, unemployment insurance or other types of social security or similar laws and regulations; 

 

	 	(h)	 Liens consisting of easements, rights of way, minor encroachments, protrusions, municipal and zoning and
building ordinances and similar charges, encumbrances, title defects or other irregularities, governmental restrictions on the use of property or conduct of business, and Liens in favor of governmental authorities and public utilities, that do not
materially interfere with the ordinary course of the Issuer’s business and the business of the Issuer’s subsidiaries, taken as a whole; 

  
 B-7 

	 	(i)	 Liens created by or resulting from any litigation or other proceeding which is being contested in good faith by
appropriate proceedings, including Lens arising out of judgments or awards against the Issuer or any of its domestic wholly-owned subsidiaries with respect to which the Issuer or such domestic wholly-owned subsidiary is in good faith prosecuting an
appeal or proceedings for review or for which the time to make an appeal has not yet expired; or final unappealable judgment Liens which are satisfied within 15 days of the date of judgment; or Liens incurred by the Issuer or any of its domestic
wholly-owned subsidiaries for the purpose of obtaining a stay or discharge in the course of any litigation or other proceeding to which the Issuer or such domestic wholly-owned subsidiary is a party; 

 

	 	(j)	 Liens for certain taxes or assessments, landlord’s Liens and Liens and charges, in each case (i) not
yet due or payable or subject to penalties for non-payment or which the Issuer is contesting in good faith by appropriate proceedings and (ii) incidental to the conduct of the business or the ownership of
the Issuer’s assets or those of one of its subsidiaries; 

  

	 	(k)	 Liens incurred in connection with an acquisition of assets or a project financed on a non-recourse basis; 

  

	 	(l)	 Liens incurred or assumed in connection with the issuance of revenue bonds the interest on which is exempt from
federal taxation pursuant to Section 103 of the Internal Revenue Code (or any successor statute); and 

  

	 	(m)	 Liens which are incurred to extend, renew, substitute, refinance, refund or replace (and successive extensions,
renewals, substitutions, refinancings, refundings or replacements) any Lien, or any Indebtedness which is secured by any Lien (including any premium required to be paid and costs and expenses incurred in connection with such extensions, renewals,
substitutions, refinancings, refundings or replacements), permitted to be created or incurred under the Indenture. 

Notwithstanding the above, the Issuer or any of its domestic wholly-owned subsidiaries may, without equally and ratably securing the 2040
Notes, create or incur Liens which would otherwise be subject to the restrictions set forth in the preceding paragraph, if after giving effect thereto, Aggregate Debt does not exceed 15% of the Issuer’s Consolidated Net Tangible Assets on a
consolidated basis calculated as of the date of the creation or incurrence of the Lien. 
 Limitation on Sale and Leaseback Transactions. The Issuer
covenants that, so long as any of the 2040 Notes remain outstanding, it shall not, nor shall it permit any of its domestic wholly-owned subsidiaries to, enter into any arrangement with any Person providing for the leasing by the Issuer or any of its
domestic wholly-owned subsidiaries of any Principal Property, whether now owned or hereafter acquired, that has been or is to be sold or transferred by the Issuer or such of its domestic wholly-owned subsidiaries to such Person with the intention of
taking back a lease of such Principal Property, a “sale and leaseback transaction,” unless: 
  

	 	(a)	 the Issuer or such domestic wholly-owned subsidiary would be entitled, at the effective date of the sale or
transfer, to incur Indebtedness secured by a Lien on the Principal Property to be leased in an amount equal to Attributable Debt with respect to the sale and leaseback transaction, without equally and ratably securing the 2040 Notes pursuant to the
first paragraph of “—Limitation on Liens” above; 

  
 B-8 

	 	(b)	 the net proceeds of the sale or transfer of the Principal Property to be leased are applied within 365 days of
the effective date of the sale and leaseback transaction to the purchase, construction, development, expansion, improvement or acquisition of other property or to the repayment of any series of the Issuer’s notes or any of the Issuer’s
other Indebtedness (other than Indebtedness that is contractually subordinated to the 2040 Notes) or any Indebtedness of one or more of the Issuer’s subsidiaries; 

 

	 	(c)	 such sale and leaseback transaction was entered into prior to the closing date of the offering of the 2040
Notes or any extension, renewal, refinancing, replacement, amendment or modification of such transaction so long as the affected Principal Property is substantially the same as or similar in nature to the Principal Property subject to the sale and
leaseback transaction extended, renewed, refinanced, replaced, amended or modified; 

  

	 	(d)	 such sale and leaseback transaction involves a lease for not more than three years (or which may be terminated
by the Issuer or one of its domestic wholly-owned subsidiaries within a period of not more than three years); or 

  

	 	(e)	 such sale and leaseback transaction with respect to any Principal Property was between only the Issuer and one
of its subsidiaries or only between the Issuer’s subsidiaries. 

 Notwithstanding the foregoing, the Issuer or any of
its domestic wholly-owned subsidiaries may enter into a sale and leaseback transaction, without complying with the requirements of the preceding paragraph, if, after giving effect thereto, Aggregate Debt does not exceed 15% of the Issuer’s
Consolidated Net Tangible Assets on a consolidated basis calculated as of the date of the sale and leaseback transaction. 
 “Aggregate
Debt” means the sum of the following, as of the date of determination, (1) the aggregate principal amount of the Issuer’s and its domestic wholly-owned subsidiaries’ Indebtedness incurred after the closing date of the offering of
the 2040 Notes and secured by Liens incurred pursuant to the second paragraph under “—Limitation on Liens” above and (2) the Issuer’s and its domestic wholly-owned subsidiaries’ Attributable Debt in respect of sale and
leaseback transactions entered into after the closing date of the offering of the 2040 Notes pursuant to the second paragraph under “—Limitation on Sale and Leaseback Transactions” above. 

“Attributable Debt” means, in connection with a sale and leaseback transaction, the lesser of: (1) the fair market value of the
assets subject to such sale and leaseback transaction, as determined in good faith by the Issuer’s Board of Directors; and (2) the present value of the obligations of the lessee for net rental payments during the term of the related lease
discounted at the rate of interest set forth or implicit in the terms of such lease or, if not practicable to determine such rate, the weighted average interest rate per annum borne by the debt securities of each series outstanding pursuant to the
Indenture and subject to limitations on sale and leaseback transaction covenants, compounded semi-annually in either case as determined by the Issuer’s principal accounting or financial officer. 

“Consolidated Net Tangible Assets” means, as of any date of determination, the aggregate amount of assets after deducting therefrom:
(1) all current liabilities, except for notes and loans payable, current maturities of long-term debt, current portion of convertible securities, current portion of deferred revenue and obligations under capital leases; and (2) intangible
assets to the extent included in 

  
 B-9 

 
the aggregate amount of assets, net of applicable reserves and any amortized amounts, all as reflected on the Issuer’s most recent consolidated balance sheet prepared in accordance with
GAAP. 
 “GAAP” means accounting principles generally accepted in the United States of America, which are in effect as of the date
of application thereof. 
 “Indebtedness” of any specified Person means, without duplication, any indebtedness, whether or not
contingent, in respect of borrowed money or that is evidenced by bonds, notes, debentures or similar instruments, if and to the extent any of the foregoing indebtedness would appear as a liability upon an unconsolidated balance sheet of such Person
(but does not include contingent liabilities which appear only in a footnote to a balance sheet). In addition, the term “Indebtedness” includes any guarantee by the specified Person of Indebtedness of any other Person, whether or not any
such items would appear as a liability on a balance sheet of the specified Person in accordance with GAAP. 
 “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 Property” means any single parcel of real property or any permanent improvement thereon (1) owned by the Issuer or
any of its domestic wholly-owned subsidiaries located in the United States, including the Issuer’s principal corporate office, any manufacturing facility or plant or any portion thereof and (2) having a book value, as of the date of
determination, in excess of 3% of the Issuer’s most recently calculated Consolidated Net Tangible Assets. Principal Property does not include any property that the Issuer’s Board of Directors has determined not to be of material importance
to the business conducted by the Issuer and its subsidiaries, taken as a whole. 
  

	 	19.	 Conversion and Exchange. The 2040 Notes shall not be convertible into or exchangeable for any other
security. 

  

	 	20.	 Additional Issues. The Issuer may, without notice to or the consent of the Holders of the 2040 Notes,
create and issue additional notes with the same terms as the 2040 Notes in all respects, except for the issue date, the public offering price and, under certain circumstances, the first interest payment date. Such additional notes shall be
consolidated and form a single series with the 2040 Notes; provided that if such additional notes are not fungible with the 2040 Notes for U.S. federal income tax purposes, such additional notes will have a separate CUSIP number.

  

	 	21.	 Other Terms. The 2040 Notes shall have the other terms and shall be substantially in the form set forth
in the form of the 2040 Notes attached hereto as Annex B-1. In case of any conflict between this Annex B and the form of the 2040 Notes, the form of the 2040 Notes shall control. 

Capitalized terms used but not otherwise defined in this Annex B shall have the respective meanings ascribed to such terms in the Indenture.

  
 B-10 

 ANNEX B-1 

[FORM OF 2040 Note] 
  

			
	REGISTERED	  	REGISTERED

 THIS NOTE IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE
NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS AND UNTIL THIS NOTE IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE REGISTERED FORM, THIS NOTES MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO THE NOMINEE OF THE
DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. 

 

			
	 No. [    ]
	  	CUSIP NO. 67066G AG9
		  	ISIN NO. US67066GAG91

 NVIDIA CORPORATION 

3.500% Notes due 2040 
 NVIDIA
Corporation, a Delaware corporation (the “Issuer,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of              Dollars ($        ) on April 1, 2040 and to pay interest on said principal sum from March 31, 2020, or from
the most recent interest payment date to which interest has been paid or duly provided for, semi-annually in arrears on April 1 and October 1 (each such date, an “Interest Payment Date”) of each year commencing on October 1,
2020, at the rate of 3.500% per annum until the principal hereof shall have become due and payable. 
 The amount of interest payable on any
Interest Payment Date shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event that any date on which the principal or interest
payable on this Note is not a Business Day, then payment of principal or interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of such delay). The interest
installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture (referred to on the reverse hereof) be paid to the person in whose name this Note is registered at the close of
business on the record date for such interest installment, which shall be the close of business on the immediately preceding March 16 and September 16 prior to such Interest Payment Date, as applicable. Any such interest installment not
punctually paid or duly provided for shall forthwith cease to be payable to the registered Holders on such record date and may be paid to the person in whose name this Note is registered at the close of business on a subsequent record date (which
shall be not less than five Business Days prior to the date of payment of such defaulted interest), notice whereof shall be sent by or on behalf of the Issuer to the registered Holders of Notes not less than 15 days preceding such subsequent record
date, all as more fully provided in the Indenture. The principal of and the interest on this Note shall be payable at the office or agency of the Issuer maintained for that purpose in any coin or currency of the United States of America that at the
time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Issuer by check sent to the person entitled thereto at such address as shall appear
in the registry books of the Issuer; provided, further, that for so long as this Note is represented by a Registered Global Security, payment of principal, premium, if any, or interest on this Note may be made by wire transfer to the
account of the Depositary or its nominee. 

  
 B-1-1 

 Unless the certificate of authentication hereon has been executed by or on behalf of the
Trustee (as defined below) under the Indenture (as defined below), by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

Capitalized terms used in this Note which are defined in the Indenture shall have the respective meanings assigned to them in the Indenture.

 The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have the same
effect as though fully set forth at this place. 

  
 B-1-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed, manually or
in facsimile. 
  

			
	NVIDIA CORPORATION

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities 
 referred to in the
within-mentioned 
 Indenture. 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
as Trustee

		
	By:	 	  

		 	Authorized Signatory
		
	Dated:	 	  

  
 B-1-3 

 [FORM OF REVERSE SIDE OF NOTE] 

This Note is one of a duly authorized series of securities (the “Securities”) of the Issuer designated as its 3.500% Notes due 2040
(the “Notes”). The Securities are all issued or to be issued under and pursuant to an Indenture, dated as of September 16, 2016 (the “Indenture”), duly executed and delivered between the Issuer and Wells Fargo Bank, National
Association as trustee with respect to the Notes (the “Trustee”), to which the Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Issuer, the Trustee and
the Holders of the Securities and the terms upon which the Notes are to be authenticated and delivered. The terms of individual series of Securities may vary with respect to interest rate or interest rate formulas, issue dates, maturity, redemption,
repayment, currency of payment and otherwise. 
 The Notes are issuable only as Registered Securities in minimum denominations of $2,000 and
integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes as requested by the Holder surrendering the
same. 
 Except as set forth below, this Note is not redeemable. This Note is not entitled to the benefit of a sinking fund or any analogous
provision. 
 Prior to October 1, 2039, the Notes may be redeemed, in whole at any time or in part from time to time, at the option of
the Issuer, for cash, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed or (ii) an amount, as determined by the Quotation Agent, equal to the sum of the present values of the remaining scheduled
payments of principal and interest thereon that would be due if the Notes matured on October 1, 2039 (not including any portion of such payments of interest accrued to the date of redemption), discounted to the date of redemption on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points, plus, in each case, accrued and unpaid
interest, if any, thereon to, but not including, the date of redemption; provided that the principal amount of any Note remaining outstanding after a redemption in part shall be $2,000 or a higher integral multiple of $1,000. Calculation of the
redemption price will be made by the Issuer or on the Issuer’s behalf by such person as the Issuer designates; provided that such calculation or the correctness thereof shall not be a duty or obligation of the Trustee. In addition, on or after
October 1, 2039, the Issuer may redeem the Notes, in whole at any time or in part from time to time, at its option, for cash, at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but not
including, the redemption date. Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable on the interest payment date to the
registered Holders as of the close of business on the relevant record date. Notices will be sent (or in the case of Notes held in book-entry form, be transmitted electronically) to Holders of the Notes to be redeemed at least 10 and not more than 60
days prior to the date fixed for redemption, except that redemption notices may be sent more than 60 days prior to a redemption if the notice is issued in connection with a legal covenant defeasance of the Notes or a satisfaction and or discharge of
the Notes pursuant to Section 10.1 of the Indenture. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption. If less
than all of the Notes are to be redeemed, the Notes to be redeemed will be selected by the Trustee by lot or in accordance with the procedures of the Depositary. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of
the Notes. 

  
 B-1-1 

 “Comparable Treasury Price” means, with respect to any redemption date,
(i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Issuer is provided fewer than four such Reference
Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the Reference Treasury Dealer appointed
by the Issuer to act as the Quotation Agent from time to time. 
 “Reference Treasury Dealer” means Goldman, Sachs & Co.
LLC and its successors; provided, however, that the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury
Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Issuer by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity
of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price on such redemption date. 

If a Change of Control Repurchase Event occurs, unless the Issuer has previously exercised its right to redeem the Notes in whole as described
above, the Issuer will be required to make an offer to each Holder of Notes to repurchase all or any part (in minimum denominations of $2,000 and integral multiples of $1,000 above that amount) of such Holder’s Notes at a repurchase price in
cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to, but not including, the date of such repurchase. Within 30 days following any Change of Control
Repurchase Event or, at the Issuer’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control, the Issuer will send a notice to each Holder, with a copy to the Trustee, describing the
transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase Notes on the payment date specified in the notice, which date will be no earlier than 30 days and no later than 60 days
from the date such notice is sent (the “Change of Control Payment Date”). The notice shall, if sent prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control
Repurchase Event occurring on or prior to the payment date specified in the notice. 
 The Issuer will comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder, to the extent those laws and regulations are applicable in
connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Notes,
the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the Notes by virtue of such conflict. 

  
 B-1-2 

 On the Change of Control Payment Date, the Issuer will be required, to the extent lawful,
to: 
  

	 	(a)	 accept for payment all Notes or portions of Notes (in minimum denominations of $2,000 and integral multiples of
$1,000 above that amount) properly tendered pursuant to the Issuer’s offer; 

  

	 	(b)	 deposit with the paying agent, no later than 11:00 a.m., New York City time, an amount equal to the aggregate
purchase price in respect of all Notes or portions of Notes properly tendered; and 

  

	 	(c)	 deliver or cause to be delivered to the Trustee for cancellation the Notes properly accepted, together with an
officers’ certificate stating the aggregate principal amount of Notes being repurchased by the Issuer. 

 The paying
agent will promptly send (or, in the case of Notes held in book-entry form, transmit electronically) to each Holder of Notes properly tendered the repurchase price for such Notes, and the Trustee will promptly authenticate and send (or cause to be
transferred by book-entry) to each Holder a new Note equal in principal amount to any unrepurchased portion of any Notes surrendered; provided, that each new Note will be in minimum denominations of $2,000 and integral multiples of $1,000 above that
amount. 
 The Issuer will not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if (i) a
third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Issuer and the third party repurchases all Notes properly tendered and not withdrawn under its offer or
(ii) a valid notice of redemption of all of the Notes has been given, or will be given contemporaneously with the Change of Control Repurchase Event as described above. In addition, the Issuer will not repurchase any Notes if the notes have
been accelerated following an event of default, other than an acceleration following a default in the payment of the aggregate purchase price upon a Change of Control Repurchase Event. 

“Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on
any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control
(which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment Grade
Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the
definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Issuer that the reduction was the
result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below
Investment Grade Rating Event). 
 “Change of Control” means the occurrence of any of the following: (1) the direct or
indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its subsidiaries, taken as
a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Issuer or one of its subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of
the Issuer’s voting stock; or (3) 

  
 B-1-3 

 
the adoption of a plan by the Issuer’s Board of Directors relating to the Issuer’s liquidation or dissolution. Notwithstanding the foregoing, a transaction will not be deemed to result
in a Change of Control if (a) the Issuer becomes a wholly-owned subsidiary of a holding company and (b) the holders of the voting stock of such holding company immediately following that transaction are substantially the same as the
holders of the Issuer’s voting stock immediately prior to that transaction. 
 “Change of Control Repurchase Event” means the
occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Investment Grade Rating” means a rating
equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 

“Moody’s” means Moody’s Investors Service, Inc., and its successors. 

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases to rate
the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange
Act, selected by the Issuer as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 
 “S&P”
means S&P Global Ratings, a division of S&P Global, Inc., and its successors. 
 If an Event of Default with respect to the Notes
shall occur and be continuing, the principal of all the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of the Holders of not less than a majority in
aggregate principal amount of the Senior Securities or Subordinated Securities, as the case may be, of all series issued under such Indenture then outstanding and affected (each voting as one class), to add any provisions to, or change in any
manner, eliminate or waive any of the provisions of, such Indenture or modify in any manner the rights of the Holders of the Securities or Coupons so affected; provided that the Issuer and the Trustee, may not, without the consent
of the Holder of each Outstanding Security affected thereby, (i) extend the final maturity of the principal of any Security or reduce the principal amount thereof or premium thereon, if any, or reduce the rate or extend the time of payment of
interest thereon, or reduce any amount payable on redemption thereof or change the currency in which the principal thereof (other than as otherwise may be provided with respect to such series), premium, if any, or interest thereon is payable or
reduce the amount of the principal of any Original Issue Discount Security that is payable upon acceleration or provable in bankruptcy, or in the case of Subordinated Securities of any series, modify any of the subordination provisions or the
definition of “Senior Indebtedness” relating to such series in a manner adverse to the Holders of such Subordinated Securities, or alter certain provisions of the Indenture relating to Securities not denominated in Dollars or the Judgment
Currency of such Securities or impair or affect the right of any Securityholder to institute suit for the enforcement of any payment thereof when due or, if the Securities provide therefor, any right of repayment at the option of the Securityholder
or (ii) reduce the aforesaid percentage in principal amount of Securities of any series issued under the Indenture, the consent of the Holders of which is required for any such modification. It is also provided in the Indenture that, with
respect to certain defaults or Events of Default regarding the Securities of any series, the Holders of a majority in aggregate principal amount Outstanding of the Securities of each such series, each such series voting as a separate class (or, of
all Securities, as the case may be voting as a single class) may under certain circumstances waive all defaults with respect to each such series (or with respect to all the Securities, as the case may be) and rescind and annul a declaration of
default and its consequences, but no such waiver or rescission and annulment shall extend to or affect any subsequent default or shall impair any right consequent thereto. 

  
 B-1-4 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the time, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be registered on the registry
books of the Issuer, upon surrender of this Note for registration of transfer at the office or agency of the Issuer maintained by the Issuer for such purpose in Minneapolis, Minnesota, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Issuer and the Trustee duly executed by, the Holder hereof or by its attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal
amount will be issued to the designated transferee or transferees. 
 No service charge shall be made for any such registration of transfer
or exchange, but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may
treat the person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary. 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

  
 B-1-5 

 [FORM OF SCHEDULE FOR ENDORSEMENTS ON REGISTERED 

GLOBAL SECURITIES TO REFLECT CHANGES IN PRINCIPAL AMOUNT] 

Schedule A 
 Changes to Principal
Amount of Registered Global Securities 
  

							
	 Date
	 	 Principal Amount

of Notes
 by which this Registered
Global
Security is to be
 Reduced or Increased,

and Reason for

Reduction or Increase
	 	 Remaining Principal

Amount of this
 Registered

Global Security
	 	 Notation Made By

	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 

  
 B-1-6 

 ANNEX C 

Pursuant to Section 2.3 of the Indenture, dated as of September 16, 2016 (the “Indenture”), between NVIDIA Corporation, a
Delaware corporation (the “Issuer”), and Wells Fargo Bank, National Association, as trustee (the “Trustee”), the terms of a series of securities to be issued pursuant to the Indenture are as follows: 

 

	 	1.	 Designation. The designation of the securities is “3.500% Notes due 2050” (the “2050
Notes”). 

  

	 	2.	 Initial Aggregate Principal Amount. The 2050 Notes shall be limited in initial aggregate principal
amount to $2,000,000,000 (except for 2050 Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other 2050 Notes pursuant to Section 2.8, 2.9, 2.11, 8.5 or 12.3 of the Indenture).

  

	 	3.	 Currency Denomination. The 2050 Notes shall be denominated in Dollars. 

 

	 	4.	 Maturity. The date on which the principal of the 2050 Notes is payable is April 1, 2050.

  

	 	5.	 Rate of Interest; Interest Payment Date; Regular Record Dates. Each 2050 Note shall bear interest from
March 31, 2020 at 3.500% per annum until the principal thereof is paid. Such interest shall be payable semi-annually in arrears on April 1 and October 1 of each year, commencing on October 1, 2020, to the persons in whose names
the 2050 Notes are registered at the close of business on the immediately preceding March 16 and September 16, respectively. Interest on the 2050 Notes shall accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from March 31, 2020. Interest on the 2050 Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the
event that any date on which principal, premium, if any, or interest is payable on the 2050 Notes is not a Business Day, then payment of the principal, premium, if any, or interest payable on such date will be made on the next succeeding day that is
a Business Day (and without any interest or other payment in respect of any such delay). 

  

	 	6.	 Place of Payment. Principal of, premium, if any, and interest on the 2050 Notes shall be payable, and
the transfer of the 2050 Notes shall be registrable, at the office or agency of the Issuer to be maintained for such purpose in Minneapolis, Minnesota, except that, at the option of the Issuer, interest may be paid by sending a check to the address
of the person entitled thereto as it appears on the 2050 Notes register; provided, however, that while any 2050 Notes are represented by a Registered Global Security, payment of principal of, premium, if any, or interest on the 2050 Notes may
be made by wire transfer to the account of the Depositary or its nominee. 

  

	 	7.	 Optional Redemption. Prior to October 1, 2049, the 2050 Notes may be redeemed, in whole at any time
or in part from time to time, at the option of the Issuer, for cash, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed or (ii) an amount, as determined by the Quotation Agent, equal to the sum of the
present values of the remaining 

  
 C-1 

	 	
scheduled payments of principal and interest thereon that would be due if the 2050 Notes matured on October 1, 2049 (not including any portion of such payments of interest accrued to the
date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus
35 basis points, plus, in each case, accrued and unpaid interest, if any, thereon to, but not including, the date of redemption; provided that the principal amount of any 2050 Note remaining outstanding after a redemption in part shall be $2,000 or
a higher integral multiple of $1,000. Calculation of the redemption price will be made by the Issuer or on the Issuer’s behalf by such person as the Issuer designates; provided that such calculation or the correctness thereof shall not be a
duty or obligation of the Trustee. In addition, on or after October 1, 2049, the Issuer may redeem the 2050 Notes, in whole at any time or in part from time to time, at its option, for cash, at a redemption price equal to 100% of the principal
amount of the 2050 Notes, plus accrued and unpaid interest to, but not including, the redemption date. Notwithstanding the foregoing, installments of interest on 2050 Notes that are due and payable on interest payment dates falling on or prior to a
redemption date will be payable on the interest payment date to the registered Holders as of the close of business on the relevant record date. Notices will be sent (or on the case of 2050 Notes held in book-entry form, be transmitted
electronically) to Holders of the 2050 Notes to be redeemed at least 10 and not more than 60 days prior to the date fixed for redemption, except that redemption notices may be sent more than 60 days prior to a redemption if the notice is issued in
connection with a legal covenant defeasance of the 2050 Notes or a satisfaction and discharge of the 2050 Notes pursuant to Section 10.1 of the Indenture. Unless the Issuer defaults in payment of the redemption price, on and after the
redemption date, interest will cease to accrue on the 2050 Notes or portions thereof called for redemption. If less than all of the 2050 Notes are to be redeemed, the 2050 Notes to be redeemed will be selected by the Trustee by lot or in accordance
with the procedures of the Depositary. 

 “Comparable Treasury Issue” means the United States Treasury security
selected by the Quotation Agent as having a maturity comparable to the remaining term of the 2050 Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the 2050 Notes. 
 “Comparable Treasury Price” means, with respect to
any redemption date, (i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Issuer is provided fewer than
four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the Reference
Treasury Dealer appointed by the Issuer to act as the Quotation Agent from time to time. 
 “Reference Treasury Dealer” means
Goldman, Sachs & Co. LLC and its successors; provided, however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall substitute
therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 

  
 C-2 

 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any redemption date, the average, as determined by the Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Issuer by such
Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Treasury
Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price on such redemption date. 
  

	 	8.	 Change of Control Repurchase Event. If a Change of Control Repurchase Event occurs, unless the Issuer
has previously exercised its right to redeem the 2050 Notes in whole as described above, the Issuer will be required to make an offer to each Holder of 2050 Notes to repurchase all or any part (in minimum denominations of $2,000 and integral
multiples of $1,000 above that amount) of such Holder’s 2050 Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of 2050 Notes repurchased plus accrued and unpaid interest, if any, on the 2050 Notes repurchased
to, but not including, the date of such repurchase. Within 30 days following any Change of Control Repurchase Event or, at the Issuer’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control,
the Issuer will send a notice to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase 2050 Notes on the payment date
specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is sent (the “Change of Control Payment Date”). The notice shall, if sent prior to the date of consummation of the
Change of Control, state that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice. 

The Issuer will comply with the requirements of Rule 14e-1 under the Exchange Act, and any other
securities laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the 2050 Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any
securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the 2050 Notes, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations
under the Change of Control Repurchase Event provisions of the 2050 Notes by virtue of such conflict. 
 On the Change of Control Payment
Date, the Issuer will be required, to the extent lawful, to: 
  

	 	(d)	 accept for payment all 2050 Notes or portions of 2050 Notes (in minimum denominations of $2,000 and integral
multiples of $1,000 above that amount) properly tendered pursuant to the Issuer’s offer; 

  
 C-3 

	 	(e)	 deposit with the paying agent, no later than 11:00 a.m., New York City time, an amount equal to the aggregate
purchase price in respect of all 2050 Notes or portions of 2050 Notes properly tendered; and 

  

	 	(f)	 deliver or cause to be delivered to the Trustee for cancellation the 2050 Notes properly accepted, together
with an officers’ certificate stating the aggregate principal amount of 2050 Notes being repurchased by the Issuer. 

The paying agent will promptly send (or, in the case of 2050 Notes held in book-entry form, transmit electronically) to each Holder of 2050
Notes properly tendered the repurchase price for such 2050 Notes, and the Trustee will promptly authenticate and send (or cause to be transferred by book-entry) to each Holder a new 2050 Note equal in principal amount to any unrepurchased portion of
any 2050 Notes surrendered; provided, that each new 2050 Note will be in minimum denominations of $2,000 and integral multiples of $1,000 above that amount. The Trustee shall not be responsible for determining whether any Change of Control has
occurred and whether any Change of Control Repurchase Event with respect to the 2050 Notes has occurred. The Trustee shall not be responsible for monitoring our rating status or making any request upon any Rating Agency. 

The Issuer will not be required to make an offer to repurchase the 2050 Notes upon a Change of Control Repurchase Event if (i) a third
party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Issuer and the third party repurchases all 2050 Notes properly tendered and not withdrawn under its offer or (ii) a
valid notice of redemption of all of the 2050 Notes has been given, or will be given contemporaneously with the Change of Control Repurchase Event as described above. In addition, the Issuer will not repurchase any 2050 Notes if the notes have been
accelerated following an event of default, other than an acceleration following a default in the payment of the aggregate purchase price upon a Change of Control Repurchase Event. 

“Below Investment Grade Rating Event” means the 2050 Notes are rated below an Investment Grade Rating by each of the Rating Agencies
on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control
(which 60-day period shall be extended so long as the rating of the 2050 Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment
Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of
the definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Issuer that the reduction was the
result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below
Investment Grade Rating Event). 

  
 C-4 

 “Change of Control” means the occurrence of any of the following: (1) the
direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its
subsidiaries, taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Issuer or one of its subsidiaries; (2) the consummation of any transaction (including, without
limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner, directly or indirectly, of more than 50% of the then
outstanding number of shares of the Issuer’s voting stock; or (3) the adoption of a plan by the Issuer’s Board of Directors relating to the Issuer’s liquidation or dissolution. Notwithstanding the foregoing, a transaction will
not be deemed to result in a Change of Control if (a) the Issuer becomes a wholly-owned subsidiary of a holding company and (b) the holders of the voting stock of such holding company immediately following that transaction are
substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 
 “Change of Control
Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Investment Grade
Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 

“Moody’s” means Moody’s Investors Service, Inc., and its successors. 

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases to rate
the 2050 Notes or fails to make a rating of the 2050 Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the
Exchange Act, selected by the Issuer as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“S&P” means S&P Global Ratings, a division of S&P Global, Inc., and its successors. 

 

	 	9.	 Mandatory Redemption. Other than with respect to a Change of Control Repurchase Event as described
above, the 2050 Notes are not mandatorily redeemable. The 2050 Notes are not entitled to the benefit of a sinking fund or any analogous provisions. 

  

	 	10.	 Denominations. The 2050 Notes shall be issued initially in minimum denominations of $2,000 and shall be
issued in integral multiples of $1,000 in excess thereof. 

  

	 	11.	 Payment Currency. Principal and interest on the 2050 Notes shall be payable in Dollars.

  

	 	12.	 Payment Currency – Election. The principal of and interest on the 2050 Notes shall not be payable
in a currency other than Dollars. 

  
 C-5 

	 	13.	 Payment Currency – Index. The principal of and interest on the 2050 Notes shall not be determined
with reference to an index based on a coin or currency. 

  

	 	14.	 Registered Securities. The 2050 Notes shall be issued only as Registered Securities. The 2050 Notes
shall be issuable as Registered Global Securities. 

  

	 	15.	 Additional Amounts. The Issuer shall not pay additional amounts on the 2050 Notes held by a Person that
is not a U.S. Person in respect of taxes or similar charges withheld or deducted. 

  

	 	16.	 Definitive Certificates. Section 2.8 of the Indenture will govern the transferability of the 2050
Notes in definitive form. 

  

	 	17.	 Registrar; Paying Agent; Depositary. The Trustee shall initially serve as the registrar and the paying
agent for the 2050 Notes. The Depository Trust Company shall initially serve as the Depositary for the Registered Global Security representing the 2050 Notes. The transferor of any 2050 Note shall provide or cause to be provided to the Trustee all
information necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information
provided to it and shall have no responsibility to verify or ensure the accuracy of such information. In connection with any proposed exchange of a Global Note for a certificated note, there shall be provided to the Trustee all information necessary
to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information provided to it and
shall have no responsibility to verify or ensure the accuracy of such information. 

  

	 	18.	 Events of Default; Covenants. Other than as provided for in the Indenture, there shall be no deletions
from or modifications or additions to the Events of Default set forth in Section 5.1 of the Indenture with respect to the 2050 Notes. There shall be the following additions to the covenants of the Issuer set forth in Article III of the
Indenture with respect to the 2050 Notes: 

 Limitation on Liens. The Issuer covenants that, so long as any of the 2050 Notes
remain outstanding, it shall not, nor shall it permit any of its domestic wholly-owned subsidiaries to, create or assume any mortgage, pledge, security interest, lien, charge or encumbrance of any kind (each, a “Lien”) on any Principal
Property, whether now owned or hereafter acquired, in order to secure any Indebtedness, without effectively providing that the 2050 Notes shall be secured by a Lien ranking equal to and ratably with (or, at the Issuer’s option, senior to) such
secured Indebtedness until such time as such Indebtedness is no longer secured by such Lien, except that the foregoing restriction shall not apply to: 
  

	 	(a)	 Liens existing on the issue date of the 2050 Notes; 

 

	 	(b)	 Liens created in favor of the Holders of the 2050 Notes; 

 

	 	(c)	 Liens in favor of the Issuer or any of its subsidiaries; 

  
 C-6 

	 	(d)	 (i) Liens given to secure (or to secure Indebtedness incurred or guaranteed by the Issuer or any of its
domestic wholly-owned subsidiaries for the purpose of financing) the payment of all or any portion of the purchase price for the acquisition (including acquisition through merger or consolidation or the acquisition of a Person directly or indirectly
owning such property) of any Principal Property, including capital lease or purchase money transactions in connection with any such acquisition, or all or any portion of the cost of refurbishment, improvement, expansion, renovation, development or
construction of any Principal Property; provided that with respect to this clause (i), the Liens shall be given prior to, at the time of or within 18 months after such acquisition, or completion of such refurbishment, improvement, expansion,
renovation, development or construction, or the full operation of such Principal Property, whichever is latest, and shall attach solely to such Principal Property (including any refurbishments, improvements, expansions, renovations, development or
construction thereof or then or thereafter placed thereon) and any proceeds thereof; and (ii) Liens existing on all or any portion of any Principal Property at the time of acquisition thereof (including acquisition through merger or
consolidation or the acquisition of a Person then directly or indirectly owning such property) whether or not such existing Liens were given to secure (or to secure Indebtedness incurred or guaranteed by the Issuer or any of its domestic
wholly-owned subsidiaries for the purpose of financing) the payment of the purchase price of such property; 

  

	 	(e)	 Liens imposed by law, such as carrier’s, warehousemen’s and mechanic’s liens or other similar
Liens (including pledges or deposits) arising in the ordinary course of business; 

  

	 	(f)	 Liens on any Principal Property in favor of the United States of America or any state thereof, or in favor of
any other country, or any political subdivision, department, agency or instrumentality thereof to secure progress or other payments pursuant to any contract or statute or to secure Indebtedness incurred or guaranteed for the purpose of financing all
or any portion of the cost of acquiring, refurbishing, improving, expanding, renovating, developing or constructing such Principal Property, including Liens incurred in connection with pollution control, industrial revenue or similar financing;

  

	 	(g)	 Liens to secure the performance of bids, trade or commercial contracts (including insurance contracts),
government contracts, purchase, construction, sales and servicing contracts (including utility contracts), leases, public, statutory or regulatory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of a like
nature, in each case in the ordinary course of business, deposits as security for contested taxes, import or other customs, duties, liabilities to insurance carriers or for the payment of rent and Liens to secure letters of credit, guarantees, bonds
or other sureties given in connection with the foregoing or in connection with workers’ compensation, unemployment insurance or other types of social security or similar laws and regulations; 

 

	 	(h)	 Liens consisting of easements, rights of way, minor encroachments, protrusions, municipal and zoning and
building ordinances and similar charges, encumbrances, title defects or other irregularities, governmental restrictions on the use of property or conduct of business, and Liens in favor of governmental authorities and public utilities, that do not
materially interfere with the ordinary course of the Issuer’s business and the business of the Issuer’s subsidiaries, taken as a whole; 

  
 C-7 

	 	(i)	 Liens created by or resulting from any litigation or other proceeding which is being contested in good faith by
appropriate proceedings, including Lens arising out of judgments or awards against the Issuer or any of its domestic wholly-owned subsidiaries with respect to which the Issuer or such domestic wholly-owned subsidiary is in good faith prosecuting an
appeal or proceedings for review or for which the time to make an appeal has not yet expired; or final unappealable judgment Liens which are satisfied within 15 days of the date of judgment; or Liens incurred by the Issuer or any of its domestic
wholly-owned subsidiaries for the purpose of obtaining a stay or discharge in the course of any litigation or other proceeding to which the Issuer or such domestic wholly-owned subsidiary is a party; 

 

	 	(j)	 Liens for certain taxes or assessments, landlord’s Liens and Liens and charges, in each case (i) not
yet due or payable or subject to penalties for non-payment or which the Issuer is contesting in good faith by appropriate proceedings and (ii) incidental to the conduct of the business or the ownership of
the Issuer’s assets or those of one of its subsidiaries; 

  

	 	(k)	 Liens incurred in connection with an acquisition of assets or a project financed on a non-recourse basis; 

  

	 	(l)	 Liens incurred or assumed in connection with the issuance of revenue bonds the interest on which is exempt from
federal taxation pursuant to Section 103 of the Internal Revenue Code (or any successor statute); and 

  

	 	(m)	 Liens which are incurred to extend, renew, substitute, refinance, refund or replace (and successive extensions,
renewals, substitutions, refinancings, refundings or replacements) any Lien, or any Indebtedness which is secured by any Lien (including any premium required to be paid and costs and expenses incurred in connection with such extensions, renewals,
substitutions, refinancings, refundings or replacements), permitted to be created or incurred under the Indenture. 

Notwithstanding the above, the Issuer or any of its domestic wholly-owned subsidiaries may, without equally and ratably securing the 2050
Notes, create or incur Liens which would otherwise be subject to the restrictions set forth in the preceding paragraph, if after giving effect thereto, Aggregate Debt does not exceed 15% of the Issuer’s Consolidated Net Tangible Assets on a
consolidated basis calculated as of the date of the creation or incurrence of the Lien. 
 Limitation on Sale and Leaseback Transactions. The Issuer
covenants that, so long as any of the 2050 Notes remain outstanding, it shall not, nor shall it permit any of its domestic wholly-owned subsidiaries to, enter into any arrangement with any Person providing for the leasing by the Issuer or any of its
domestic wholly-owned subsidiaries of any Principal Property, whether now owned or hereafter acquired, that has been or is to be sold or transferred by the Issuer or such of its domestic wholly-owned subsidiaries to such Person with the intention of
taking back a lease of such Principal Property, a “sale and leaseback transaction,” unless: 
  

	 	(a)	 the Issuer or such domestic wholly-owned subsidiary would be entitled, at the effective date of the sale or
transfer, to incur Indebtedness secured by a Lien on the Principal Property to be leased in an amount equal to Attributable Debt with respect to the sale and leaseback transaction, without equally and ratably securing the 2050 Notes pursuant to the
first paragraph of “—Limitation on Liens” above; 

  
 C-8 

	 	(b)	 the net proceeds of the sale or transfer of the Principal Property to be leased are applied within 365 days of
the effective date of the sale and leaseback transaction to the purchase, construction, development, expansion, improvement or acquisition of other property or to the repayment of any series of the Issuer’s notes or any of the Issuer’s
other Indebtedness (other than Indebtedness that is contractually subordinated to the 2050 Notes) or any Indebtedness of one or more of the Issuer’s subsidiaries; 

 

	 	(c)	 such sale and leaseback transaction was entered into prior to the closing date of the offering of the 2050
Notes or any extension, renewal, refinancing, replacement, amendment or modification of such transaction so long as the affected Principal Property is substantially the same as or similar in nature to the Principal Property subject to the sale and
leaseback transaction extended, renewed, refinanced, replaced, amended or modified; 

  

	 	(d)	 such sale and leaseback transaction involves a lease for not more than three years (or which may be terminated
by the Issuer or one of its domestic wholly-owned subsidiaries within a period of not more than three years); or 

  

	 	(e)	 such sale and leaseback transaction with respect to any Principal Property was between only the Issuer and one
of its subsidiaries or only between the Issuer’s subsidiaries. 

 Notwithstanding the foregoing, the Issuer or any of
its domestic wholly-owned subsidiaries may enter into a sale and leaseback transaction, without complying with the requirements of the preceding paragraph, if, after giving effect thereto, Aggregate Debt does not exceed 15% of the Issuer’s
Consolidated Net Tangible Assets on a consolidated basis calculated as of the date of the sale and leaseback transaction. 
 “Aggregate
Debt” means the sum of the following, as of the date of determination, (1) the aggregate principal amount of the Issuer’s and its domestic wholly-owned subsidiaries’ Indebtedness incurred after the closing date of the offering of
the 2050 Notes and secured by Liens incurred pursuant to the second paragraph under “—Limitation on Liens” above and (2) the Issuer’s and its domestic wholly-owned subsidiaries’ Attributable Debt in respect of sale and
leaseback transactions entered into after the closing date of the offering of the 2050 Notes pursuant to the second paragraph under “—Limitation on Sale and Leaseback Transactions” above. 

“Attributable Debt” means, in connection with a sale and leaseback transaction, the lesser of: (1) the fair market value of the
assets subject to such sale and leaseback transaction, as determined in good faith by the Issuer’s Board of Directors; and (2) the present value of the obligations of the lessee for net rental payments during the term of the related lease
discounted at the rate of interest set forth or implicit in the terms of such lease or, if not practicable to determine such rate, the weighted average interest rate per annum borne by the debt securities of each series outstanding pursuant to the
Indenture and subject to limitations on sale and leaseback transaction covenants, compounded semi-annually in either case as determined by the Issuer’s principal accounting or financial officer. 

“Consolidated Net Tangible Assets” means, as of any date of determination, the aggregate amount of assets after deducting therefrom:
(1) all current liabilities, except for notes and loans payable, current maturities of long-term debt, current portion of convertible securities, current portion of deferred revenue and obligations under capital leases; and (2) intangible
assets to the extent included in 

  
 C-9 

 
the aggregate amount of assets, net of applicable reserves and any amortized amounts, all as reflected on the Issuer’s most recent consolidated balance sheet prepared in accordance with
GAAP. 
 “GAAP” means accounting principles generally accepted in the United States of America, which are in effect as of the date
of application thereof. 
 “Indebtedness” of any specified Person means, without duplication, any indebtedness, whether or not
contingent, in respect of borrowed money or that is evidenced by bonds, notes, debentures or similar instruments, if and to the extent any of the foregoing indebtedness would appear as a liability upon an unconsolidated balance sheet of such Person
(but does not include contingent liabilities which appear only in a footnote to a balance sheet). In addition, the term “Indebtedness” includes any guarantee by the specified Person of Indebtedness of any other Person, whether or not any
such items would appear as a liability on a balance sheet of the specified Person in accordance with GAAP. 
 “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 Property” means any single parcel of real property or any permanent improvement thereon (1) owned by the Issuer or
any of its domestic wholly-owned subsidiaries located in the United States, including the Issuer’s principal corporate office, any manufacturing facility or plant or any portion thereof and (2) having a book value, as of the date of
determination, in excess of 3% of the Issuer’s most recently calculated Consolidated Net Tangible Assets. Principal Property does not include any property that the Issuer’s Board of Directors has determined not to be of material importance
to the business conducted by the Issuer and its subsidiaries, taken as a whole. 
  

	 	19.	 Conversion and Exchange. The 2050 Notes shall not be convertible into or exchangeable for any other
security. 

  

	 	20.	 Additional Issues. The Issuer may, without notice to or the consent of the Holders of the 2050 Notes,
create and issue additional notes with the same terms as the 2050 Notes in all respects, except for the issue date, the public offering price and, under certain circumstances, the first interest payment date. Such additional notes shall be
consolidated and form a single series with the 2050 Notes; provided that if such additional notes are not fungible with the 2050 Notes for U.S. federal income tax purposes, such additional notes will have a separate CUSIP number.

  

	 	21.	 Other Terms. The 2050 Notes shall have the other terms and shall be substantially in the form set forth
in the form of the 2050 Notes attached hereto as Annex C-1. In case of any conflict between this Annex C and the form of the 2050 Notes, the form of the 2050 Notes shall control. 

Capitalized terms used but not otherwise defined in this Annex C shall have the respective meanings ascribed to such terms in the Indenture.

  
 C-10 

 ANNEX C-1 

[FORM OF 2050 Note] 
  

			
	REGISTERED	  	REGISTERED

 THIS NOTE IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE
NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS AND UNTIL THIS NOTE IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE REGISTERED FORM, THIS NOTES MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO THE NOMINEE OF THE
DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. 

 

			
	 No. [    ]
	  	CUSIP NO. 67066G AH7
		  	ISIN NO. US67066GAH74

 NVIDIA CORPORATION 

3.500% Notes due 2050 
 NVIDIA
Corporation, a Delaware corporation (the “Issuer,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of              Dollars ($        ) on April 1, 2050 and to pay interest on said principal sum from March 31, 2020, or from
the most recent interest payment date to which interest has been paid or duly provided for, semi-annually in arrears on April 1 and October 1 (each such date, an “Interest Payment Date”) of each year commencing on October 1,
2020, at the rate of 3.500% per annum until the principal hereof shall have become due and payable. 
 The amount of interest payable on any
Interest Payment Date shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event that any date on which the principal or interest
payable on this Note is not a Business Day, then payment of principal or interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of such delay). The interest
installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture (referred to on the reverse hereof) be paid to the person in whose name this Note is registered at the close of
business on the record date for such interest installment, which shall be the close of business on the immediately preceding March 16 and September 16 prior to such Interest Payment Date, as applicable. Any such interest installment not
punctually paid or duly provided for shall forthwith cease to be payable to the registered Holders on such record date and may be paid to the person in whose name this Note is registered at the close of business on a subsequent record date (which
shall be not less than five Business Days prior to the date of payment of such defaulted interest), notice whereof shall be sent by or on behalf of the Issuer to the registered Holders of Notes not less than 15 days preceding such subsequent record
date, all as more fully provided in the Indenture. The principal of and the interest on this Note shall be payable at the office or agency of the Issuer maintained for that purpose in any coin or currency of the United States of America that at the
time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Issuer by check sent to the person entitled thereto at such address as shall appear
in the registry books of the Issuer; provided, further, that for so long as this Note is represented by a Registered Global Security, payment of principal, premium, if any, or interest on this Note may be made by wire transfer to the
account of the Depositary or its nominee. 

  
 C-1-1 

 Unless the certificate of authentication hereon has been executed by or on behalf of the
Trustee (as defined below) under the Indenture (as defined below), by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

Capitalized terms used in this Note which are defined in the Indenture shall have the respective meanings assigned to them in the Indenture.

 The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have the same
effect as though fully set forth at this place. 

  
 C-1-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed, manually or
in facsimile. 
  

			
	 NVIDIA
CORPORATION

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities 
 referred to in the
within-mentioned 
 Indenture. 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
as Trustee

		
	By:	 	  

		 	Authorized Signatory
		
	Dated:	 	  

  
 C-1-3 

 [FORM OF REVERSE SIDE OF NOTE] 

This Note is one of a duly authorized series of securities (the “Securities”) of the Issuer designated as its 3.500% Notes due 2050
(the “Notes”). The Securities are all issued or to be issued under and pursuant to an Indenture, dated as of September 16, 2016 (the “Indenture”), duly executed and delivered between the Issuer and Wells Fargo Bank, National
Association as trustee with respect to the Notes (the “Trustee”), to which the Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Issuer, the Trustee and
the Holders of the Securities and the terms upon which the Notes are to be authenticated and delivered. The terms of individual series of Securities may vary with respect to interest rate or interest rate formulas, issue dates, maturity, redemption,
repayment, currency of payment and otherwise. 
 The Notes are issuable only as Registered Securities in minimum denominations of $2,000 and
integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes as requested by the Holder surrendering the
same. 
 Except as set forth below, this Note is not redeemable. This Note is not entitled to the benefit of a sinking fund or any analogous
provision. 
 Prior to October 1, 2049, the Notes may be redeemed, in whole at any time or in part from time to time, at the option of
the Issuer, for cash, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed or (ii) an amount, as determined by the Quotation Agent, equal to the sum of the present values of the remaining scheduled
payments of principal and interest thereon that would be due if the Notes matured on October 1, 2049 (not including any portion of such payments of interest accrued to the date of redemption), discounted to the date of redemption on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points, plus, in each case, accrued and unpaid
interest, if any, thereon to, but not including, the date of redemption; provided that the principal amount of any Note remaining outstanding after a redemption in part shall be $2,000 or a higher integral multiple of $1,000. Calculation of the
redemption price will be made by the Issuer or on the Issuer’s behalf by such person as the Issuer designates; provided that such calculation or the correctness thereof shall not be a duty or obligation of the Trustee. In addition, on or after
October 1, 2049, the Issuer may redeem the Notes, in whole at any time or in part from time to time, at its option, for cash, at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but not
including, the redemption date. Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable on the interest payment date to the
registered Holders as of the close of business on the relevant record date. Notices will be sent (or in the case of Notes held in book-entry form, be transmitted electronically) to Holders of the Notes to be redeemed at least 10 and not more than 60
days prior to the date fixed for redemption, except that redemption notices may be sent more than 60 days prior to a redemption if the notice is issued in connection with a legal covenant defeasance of the Notes or a satisfaction and or discharge of
the Notes pursuant to Section 10.1 of the Indenture. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption. If less
than all of the Notes are to be redeemed, the Notes to be redeemed will be selected by the Trustee by lot or in accordance with the procedures of the Depositary. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of
the Notes. 

  
 C-1-1 

 “Comparable Treasury Price” means, with respect to any redemption date,
(i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Issuer is provided fewer than four such Reference
Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the Reference Treasury Dealer appointed
by the Issuer to act as the Quotation Agent from time to time. 
 “Reference Treasury Dealer” means Goldman, Sachs & Co.
LLC and its successors; provided, however, that the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury
Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Issuer by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity
of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price on such redemption date. 

If a Change of Control Repurchase Event occurs, unless the Issuer has previously exercised its right to redeem the Notes in whole as described
above, the Issuer will be required to make an offer to each Holder of Notes to repurchase all or any part (in minimum denominations of $2,000 and integral multiples of $1,000 above that amount) of such Holder’s Notes at a repurchase price in
cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to, but not including, the date of such repurchase. Within 30 days following any Change of Control
Repurchase Event or, at the Issuer’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control, the Issuer will send a notice to each Holder, with a copy to the Trustee, describing the
transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase Notes on the payment date specified in the notice, which date will be no earlier than 30 days and no later than 60 days
from the date such notice is sent (the “Change of Control Payment Date”). The notice shall, if sent prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control
Repurchase Event occurring on or prior to the payment date specified in the notice. 
 The Issuer will comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder, to the extent those laws and regulations are applicable in
connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Notes,
the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the Notes by virtue of such conflict. 

  
 C-1-2 

 On the Change of Control Payment Date, the Issuer will be required, to the extent lawful,
to: 
  

	 	(a)	 accept for payment all Notes or portions of Notes (in minimum denominations of $2,000 and integral multiples of
$1,000 above that amount) properly tendered pursuant to the Issuer’s offer; 

  

	 	(b)	 deposit with the paying agent, no later than 11:00 a.m., New York City time, an amount equal to the aggregate
purchase price in respect of all Notes or portions of Notes properly tendered; and 

  

	 	(c)	 deliver or cause to be delivered to the Trustee for cancellation the Notes properly accepted, together with an
officers’ certificate stating the aggregate principal amount of Notes being repurchased by the Issuer. 

 The paying
agent will promptly send (or, in the case of Notes held in book-entry form, transmit electronically) to each Holder of Notes properly tendered the repurchase price for such Notes, and the Trustee will promptly authenticate and send (or cause to be
transferred by book-entry) to each Holder a new Note equal in principal amount to any unrepurchased portion of any Notes surrendered; provided, that each new Note will be in minimum denominations of $2,000 and integral multiples of $1,000 above that
amount. The Trustee shall not be responsible for determining whether any Change of Control has occurred and whether any Change of Control Repurchase Event with respect to the 2060 Notes has occurred. The Trustee shall not be responsible for
monitoring our rating status or making any request upon any Rating Agency. 
 The Issuer will not be required to make an offer to repurchase
the Notes upon a Change of Control Repurchase Event if (i) a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Issuer and the third party repurchases all Notes
properly tendered and not withdrawn under its offer or (ii) a valid notice of redemption of all of the Notes has been given, or will be given contemporaneously with the Change of Control Repurchase Event as described above. In addition, the
Issuer will not repurchase any Notes if the notes have been accelerated following an event of default, other than an acceleration following a default in the payment of the aggregate purchase price upon a Change of Control Repurchase Event. 

“Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on
any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control
(which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment Grade
Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the
definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Issuer that the reduction was the
result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below
Investment Grade Rating Event). 
 “Change of Control” means the occurrence of any of the following: (1) the direct or
indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its subsidiaries, taken as
a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Issuer or one of its subsidiaries; (2) the consummation of any transaction 

  
 C-1-3 

 
(including, without limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the
beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Issuer’s voting stock; or (3) the adoption of a plan by the Issuer’s Board of Directors relating to the Issuer’s
liquidation or dissolution. Notwithstanding the foregoing, a transaction will not be deemed to result in a Change of Control if (a) the Issuer becomes a wholly-owned subsidiary of a holding company and (b) the holders of the voting stock
of such holding company immediately following that transaction are substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 

“Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 
 “Moody’s” means Moody’s Investors Service,
Inc., and its successors. 
 “Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either of
Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of
Section 3(a)(62) under the Exchange Act, selected by the Issuer as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“S&P” means S&P Global Ratings, a division of S&P Global, Inc., and its successors. 

If an Event of Default with respect to the Notes shall occur and be continuing, the principal of all the Notes may be declared due and payable
in the manner and with the effect provided in the Indenture. 
 The Indenture contains provisions permitting the Issuer and the Trustee,
with the consent of the Holders of not less than a majority in aggregate principal amount of the Senior Securities or Subordinated Securities, as the case may be, of all series issued under such Indenture then outstanding and affected (each voting
as one class), to add any provisions to, or change in any manner, eliminate or waive any of the provisions of, such Indenture or modify in any manner the rights of the Holders of the Securities or Coupons so affected;
provided that the Issuer and the Trustee, may not, without the consent of the Holder of each Outstanding Security affected thereby, (i) extend the final maturity of the principal of any Security or reduce the principal amount
thereof or premium thereon, if any, or reduce the rate or extend the time of payment of interest thereon, or reduce any amount payable on redemption thereof or change the currency in which the principal thereof (other than as otherwise may be
provided with respect to such series), premium, if any, or interest thereon is payable or reduce the amount of the principal of any Original Issue Discount Security that is payable upon acceleration or provable in bankruptcy, or in the case of
Subordinated Securities of any series, modify any of the subordination provisions or the definition of “Senior Indebtedness” relating to such series in a manner adverse to the Holders of such Subordinated Securities, or alter certain
provisions of the Indenture relating to Securities not denominated in Dollars or the Judgment Currency of such Securities or impair or affect the right of any Securityholder to institute suit for the enforcement of any payment thereof when due or,
if the Securities provide therefor, any right of repayment at the option of the Securityholder or (ii) reduce the aforesaid percentage in principal amount of Securities of any series issued under the Indenture, the consent of the Holders of
which is required for any such modification. It is also provided in the Indenture that, with respect to certain defaults or Events of Default regarding the Securities of any series, the Holders of a majority in aggregate principal amount Outstanding
of the Securities of each such series, each such series voting as a separate 

  
 C-1-4 

 
class (or, of all Securities, as the case may be voting as a single class) may under certain circumstances waive all defaults with respect to each such series (or with respect to all the
Securities, as the case may be) and rescind and annul a declaration of default and its consequences, but no such waiver or rescission and annulment shall extend to or affect any subsequent default or shall impair any right consequent thereto. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer,
which is absolute and unconditional, to pay the principal of and interest on this Note at the time, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be registered on the registry
books of the Issuer, upon surrender of this Note for registration of transfer at the office or agency of the Issuer maintained by the Issuer for such purpose in Minneapolis, Minnesota, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Issuer and the Trustee duly executed by, the Holder hereof or by its attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal
amount will be issued to the designated transferee or transferees. 
 No service charge shall be made for any such registration of transfer
or exchange, but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may
treat the person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary. 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

  
 C-1-5 

 [FORM OF SCHEDULE FOR ENDORSEMENTS ON REGISTERED 

GLOBAL SECURITIES TO REFLECT CHANGES IN PRINCIPAL AMOUNT] 

Schedule A 
 Changes to Principal
Amount of Registered Global Securities 
  

							
	 Date
	 	 Principal Amount

of Notes
 by which this Registered
Global
Security is to be
 Reduced or Increased,

and Reason for

Reduction or Increase
	 	 Remaining Principal

Amount of this
 Registered

Global Security
	 	 Notation Made By

	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 
	
                
            
	 	                                	 	                                   
 	 	                                   
 

  
 C-1-6 

 ANNEX D 

Pursuant to Section 2.3 of the Indenture, dated as of September 16, 2016 (the “Indenture”), between NVIDIA Corporation, a
Delaware corporation (the “Issuer”), and Wells Fargo Bank, National Association, as trustee (the “Trustee”), the terms of a series of securities to be issued pursuant to the Indenture are as follows: 

 

	 	1.	 Designation. The designation of the securities is “3.700% Notes due 2060” (the “2060
Notes”). 

  

	 	2.	 Initial Aggregate Principal Amount. The 2060 Notes shall be limited in initial aggregate principal
amount to $500,000,000 (except for 2060 Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other 2060 Notes pursuant to Section 2.8, 2.9, 2.11, 8.5 or 12.3 of the Indenture).

  

	 	3.	 Currency Denomination. The 2060 Notes shall be denominated in Dollars. 

 

	 	4.	 Maturity. The date on which the principal of the 2060 Notes is payable is April 1, 2060.

  

	 	5.	 Rate of Interest; Interest Payment Date; Regular Record Dates. Each 2060 Note shall bear interest from
March 31, 2020 at 3.700% per annum until the principal thereof is paid. Such interest shall be payable semi-annually in arrears on April 1 and October 1 of each year, commencing on October 1, 2020, to the persons in whose names
the 2060 Notes are registered at the close of business on the immediately preceding March 16 and September 16, respectively. Interest on the 2060 Notes shall accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from March 31, 2020. Interest on the 2060 Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the
event that any date on which principal, premium, if any, or interest is payable on the 2060 Notes is not a Business Day, then payment of the principal, premium, if any, or interest payable on such date will be made on the next succeeding day that is
a Business Day (and without any interest or other payment in respect of any such delay). 

  

	 	6.	 Place of Payment. Principal of, premium, if any, and interest on the 2060 Notes shall be payable, and
the transfer of the 2060 Notes shall be registrable, at the office or agency of the Issuer to be maintained for such purpose in Minneapolis, Minnesota, except that, at the option of the Issuer, interest may be paid by sending a check to the address
of the person entitled thereto as it appears on the 2060 Notes register; provided, however, that while any 2060 Notes are represented by a Registered Global Security, payment of principal of, premium, if any, or interest on the 2060 Notes may
be made by wire transfer to the account of the Depositary or its nominee. 

  

	 	7.	 Optional Redemption. Prior to October 1, 2059, the 2060 Notes may be redeemed, in whole at any time
or in part from time to time, at the option of the Issuer, for cash, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed or (ii) an amount, as determined by the Quotation Agent, equal to the sum of the
present values of the remaining 

  
 D-1 

	 	
scheduled payments of principal and interest thereon that would be due if the 2060 Notes matured on October 1, 2059 (not including any portion of such payments of interest accrued to the
date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus
35 basis points, plus, in each case, accrued and unpaid interest, if any, thereon to, but not including, the date of redemption; provided that the principal amount of any 2060 Note remaining outstanding after a redemption in part shall be $2,000 or
a higher integral multiple of $1,000. Calculation of the redemption price will be made by the Issuer or on the Issuer’s behalf by such person as the Issuer designates; provided that such calculation or the correctness thereof shall not be a
duty or obligation of the Trustee. In addition, on or after October 1, 2059, the Issuer may redeem the 2060 Notes, in whole at any time or in part from time to time, at its option, for cash, at a redemption price equal to 100% of the principal
amount of the 2060 Notes, plus accrued and unpaid interest to, but not including, the redemption date. Notwithstanding the foregoing, installments of interest on 2060 Notes that are due and payable on interest payment dates falling on or prior to a
redemption date will be payable on the interest payment date to the registered Holders as of the close of business on the relevant record date. Notices will be sent (or on the case of 2060 Notes held in book-entry form, be transmitted
electronically) to Holders of the 2060 Notes to be redeemed at least 10 and not more than 60 days prior to the date fixed for redemption, except that redemption notices may be sent more than 60 days prior to a redemption if the notice is issued in
connection with a legal covenant defeasance of the 2060 Notes or a satisfaction and discharge of the 2060 Notes pursuant to Section 10.1 of the Indenture. Unless the Issuer defaults in payment of the redemption price, on and after the
redemption date, interest will cease to accrue on the 2060 Notes or portions thereof called for redemption. If less than all of the 2060 Notes are to be redeemed, the 2060 Notes to be redeemed will be selected by the Trustee by lot or in accordance
with the procedures of the Depositary. 

 “Comparable Treasury Issue” means the United States Treasury security
selected by the Quotation Agent as having a maturity comparable to the remaining term of the 2060 Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the 2060 Notes. 
 “Comparable Treasury Price” means, with respect to
any redemption date, (i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Issuer is provided fewer than
four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the Reference
Treasury Dealer appointed by the Issuer to act as the Quotation Agent from time to time. 
 “Reference Treasury Dealer” means
Goldman, Sachs & Co. LLC and its successors; provided, however, that if the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall substitute
therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 

  
 D-2 

 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any redemption date, the average, as determined by the Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Issuer by such
Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Treasury
Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price on such redemption date. 
  

	 	8.	 Change of Control Repurchase Event. If a Change of Control Repurchase Event occurs, unless the Issuer
has previously exercised its right to redeem the 2060 Notes in whole as described above, the Issuer will be required to make an offer to each Holder of 2060 Notes to repurchase all or any part (in minimum denominations of $2,000 and integral
multiples of $1,000 above that amount) of such Holder’s 2060 Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of 2060 Notes repurchased plus accrued and unpaid interest, if any, on the 2060 Notes repurchased
to, but not including, the date of such repurchase. Within 30 days following any Change of Control Repurchase Event or, at the Issuer’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control,
the Issuer will send a notice to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase 2060 Notes on the payment date
specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is sent (the “Change of Control Payment Date”). The notice shall, if sent prior to the date of consummation of the
Change of Control, state that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice. 

The Issuer will comply with the requirements of Rule 14e-1 under the Exchange Act, and any other
securities laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the 2060 Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any
securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the 2060 Notes, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations
under the Change of Control Repurchase Event provisions of the 2060 Notes by virtue of such conflict. 
 On the Change of Control Payment
Date, the Issuer will be required, to the extent lawful, to: 
  

	 	(d)	 accept for payment all 2060 Notes or portions of 2060 Notes (in minimum denominations of $2,000 and integral
multiples of $1,000 above that amount) properly tendered pursuant to the Issuer’s offer; 

  
 D-3 

	 	(e)	 deposit with the paying agent, no later than 11:00 a.m., New York City time, an amount equal to the aggregate
purchase price in respect of all 2060 Notes or portions of 2060 Notes properly tendered; and 

  

	 	(f)	 deliver or cause to be delivered to the Trustee for cancellation the 2060 Notes properly accepted, together
with an officers’ certificate stating the aggregate principal amount of 2060 Notes being repurchased by the Issuer. 

The paying agent will promptly send (or, in the case of 2060 Notes held in book-entry form, transmit electronically) to each Holder of 2060
Notes properly tendered the repurchase price for such 2060 Notes, and the Trustee will promptly authenticate and send (or cause to be transferred by book-entry) to each Holder a new 2060 Note equal in principal amount to any unrepurchased portion of
any 2060 Notes surrendered; provided, that each new 2060 Note will be in minimum denominations of $2,000 and integral multiples of $1,000 above that amount. The Trustee shall not be responsible for determining whether any Change of Control has
occurred and whether any Change of Control Repurchase Event with respect to the 2060 Notes has occurred. The Trustee shall not be responsible for monitoring our rating status or making any request upon any Rating Agency. 

The Issuer will not be required to make an offer to repurchase the 2060 Notes upon a Change of Control Repurchase Event if (i) a third
party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Issuer and the third party repurchases all 2060 Notes properly tendered and not withdrawn under its offer or (ii) a
valid notice of redemption of all of the 2060 Notes has been given, or will be given contemporaneously with the Change of Control Repurchase Event as described above. In addition, the Issuer will not repurchase any 2060 Notes if the notes have been
accelerated following an event of default, other than an acceleration following a default in the payment of the aggregate purchase price upon a Change of Control Repurchase Event. 

“Below Investment Grade Rating Event” means the 2060 Notes are rated below an Investment Grade Rating by each of the Rating Agencies
on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control
(which 60-day period shall be extended so long as the rating of the 2060 Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment
Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of
the definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Issuer that the reduction was the
result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below
Investment Grade Rating Event). 

  
 D-4 

 “Change of Control” means the occurrence of any of the following: (1) the
direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its
subsidiaries, taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Issuer or one of its subsidiaries; (2) the consummation of any transaction (including, without
limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner, directly or indirectly, of more than 50% of the then
outstanding number of shares of the Issuer’s voting stock; or (3) the adoption of a plan by the Issuer’s Board of Directors relating to the Issuer’s liquidation or dissolution. Notwithstanding the foregoing, a transaction will
not be deemed to result in a Change of Control if (a) the Issuer becomes a wholly-owned subsidiary of a holding company and (b) the holders of the voting stock of such holding company immediately following that transaction are
substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 
 “Change of Control
Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Investment Grade
Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 

“Moody’s” means Moody’s Investors Service, Inc., and its successors. 

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases to rate
the 2060 Notes or fails to make a rating of the 2060 Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the
Exchange Act, selected by the Issuer as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“S&P” means S&P Global Ratings, a division of S&P Global, Inc., and its successors. 

 

	 	9.	 Mandatory Redemption. Other than with respect to a Change of Control Repurchase Event as described
above, the 2060 Notes are not mandatorily redeemable. The 2060 Notes are not entitled to the benefit of a sinking fund or any analogous provisions. 

  

	 	10.	 Denominations. The 2060 Notes shall be issued initially in minimum denominations of $2,000 and shall be
issued in integral multiples of $1,000 in excess thereof. 

  

	 	11.	 Payment Currency. Principal and interest on the 2060 Notes shall be payable in Dollars.

  

	 	12.	 Payment Currency – Election. The principal of and interest on the 2060 Notes shall not be payable
in a currency other than Dollars. 

  
 D-5 

	 	13.	 Payment Currency – Index. The principal of and interest on the 2060 Notes shall not be determined
with reference to an index based on a coin or currency. 

  

	 	14.	 Registered Securities. The 2060 Notes shall be issued only as Registered Securities. The 2060 Notes
shall be issuable as Registered Global Securities. 

  

	 	15.	 Additional Amounts. The Issuer shall not pay additional amounts on the 2060 Notes held by a Person that
is not a U.S. Person in respect of taxes or similar charges withheld or deducted. 

  

	 	16.	 Definitive Certificates. Section 2.8 of the Indenture will govern the transferability of the 2060
Notes in definitive form. 

  

	 	17.	 Registrar; Paying Agent; Depositary. The Trustee shall initially serve as the registrar and the paying
agent for the 2060 Notes. The Depository Trust Company shall initially serve as the Depositary for the Registered Global Security representing the 2060 Notes. The transferor of any 2060 Note shall provide or cause to be provided to the Trustee all
information necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information
provided to it and shall have no responsibility to verify or ensure the accuracy of such information. In connection with any proposed exchange of a Global Note for a certificated note, there shall be provided to the Trustee all information necessary
to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information provided to it and
shall have no responsibility to verify or ensure the accuracy of such information. 

  

	 	18.	 Events of Default; Covenants. Other than as provided for in the Indenture, there shall be no deletions
from or modifications or additions to the Events of Default set forth in Section 5.1 of the Indenture with respect to the 2060 Notes. There shall be the following additions to the covenants of the Issuer set forth in Article III of the
Indenture with respect to the 2060 Notes: 

 Limitation on Liens. The Issuer covenants that, so long as any of the 2060 Notes
remain outstanding, it shall not, nor shall it permit any of its domestic wholly-owned subsidiaries to, create or assume any mortgage, pledge, security interest, lien, charge or encumbrance of any kind (each, a “Lien”) on any Principal
Property, whether now owned or hereafter acquired, in order to secure any Indebtedness, without effectively providing that the 2060 Notes shall be secured by a Lien ranking equal to and ratably with (or, at the Issuer’s option, senior to) such
secured Indebtedness until such time as such Indebtedness is no longer secured by such Lien, except that the foregoing restriction shall not apply to: 
  

	 	(a)	 Liens existing on the issue date of the 2060 Notes; 

 

	 	(b)	 Liens created in favor of the Holders of the 2060 Notes; 

 

	 	(c)	 Liens in favor of the Issuer or any of its subsidiaries; 

  
 D-6 

	 	(d)	 (i) Liens given to secure (or to secure Indebtedness incurred or guaranteed by the Issuer or any of its
domestic wholly-owned subsidiaries for the purpose of financing) the payment of all or any portion of the purchase price for the acquisition (including acquisition through merger or consolidation or the acquisition of a Person directly or indirectly
owning such property) of any Principal Property, including capital lease or purchase money transactions in connection with any such acquisition, or all or any portion of the cost of refurbishment, improvement, expansion, renovation, development or
construction of any Principal Property; provided that with respect to this clause (i), the Liens shall be given prior to, at the time of or within 18 months after such acquisition, or completion of such refurbishment, improvement, expansion,
renovation, development or construction, or the full operation of such Principal Property, whichever is latest, and shall attach solely to such Principal Property (including any refurbishments, improvements, expansions, renovations, development or
construction thereof or then or thereafter placed thereon) and any proceeds thereof; and (ii) Liens existing on all or any portion of any Principal Property at the time of acquisition thereof (including acquisition through merger or
consolidation or the acquisition of a Person then directly or indirectly owning such property) whether or not such existing Liens were given to secure (or to secure Indebtedness incurred or guaranteed by the Issuer or any of its domestic
wholly-owned subsidiaries for the purpose of financing) the payment of the purchase price of such property; 

  

	 	(e)	 Liens imposed by law, such as carrier’s, warehousemen’s and mechanic’s liens or other similar
Liens (including pledges or deposits) arising in the ordinary course of business; 

  

	 	(f)	 Liens on any Principal Property in favor of the United States of America or any state thereof, or in favor of
any other country, or any political subdivision, department, agency or instrumentality thereof to secure progress or other payments pursuant to any contract or statute or to secure Indebtedness incurred or guaranteed for the purpose of financing all
or any portion of the cost of acquiring, refurbishing, improving, expanding, renovating, developing or constructing such Principal Property, including Liens incurred in connection with pollution control, industrial revenue or similar financing;

  

	 	(g)	 Liens to secure the performance of bids, trade or commercial contracts (including insurance contracts),
government contracts, purchase, construction, sales and servicing contracts (including utility contracts), leases, public, statutory or regulatory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of a like
nature, in each case in the ordinary course of business, deposits as security for contested taxes, import or other customs, duties, liabilities to insurance carriers or for the payment of rent and Liens to secure letters of credit, guarantees, bonds
or other sureties given in connection with the foregoing or in connection with workers’ compensation, unemployment insurance or other types of social security or similar laws and regulations; 

 

	 	(h)	 Liens consisting of easements, rights of way, minor encroachments, protrusions, municipal and zoning and
building ordinances and similar charges, encumbrances, title defects or other irregularities, governmental restrictions on the use of property or conduct of business, and Liens in favor of governmental authorities and public utilities, that do not
materially interfere with the ordinary course of the Issuer’s business and the business of the Issuer’s subsidiaries, taken as a whole; 

  
 D-7 

	 	(i)	 Liens created by or resulting from any litigation or other proceeding which is being contested in good faith by
appropriate proceedings, including Lens arising out of judgments or awards against the Issuer or any of its domestic wholly-owned subsidiaries with respect to which the Issuer or such domestic wholly-owned subsidiary is in good faith prosecuting an
appeal or proceedings for review or for which the time to make an appeal has not yet expired; or final unappealable judgment Liens which are satisfied within 15 days of the date of judgment; or Liens incurred by the Issuer or any of its domestic
wholly-owned subsidiaries for the purpose of obtaining a stay or discharge in the course of any litigation or other proceeding to which the Issuer or such domestic wholly-owned subsidiary is a party; 

 

	 	(j)	 Liens for certain taxes or assessments, landlord’s Liens and Liens and charges, in each case (i) not
yet due or payable or subject to penalties for non-payment or which the Issuer is contesting in good faith by appropriate proceedings and (ii) incidental to the conduct of the business or the ownership of
the Issuer’s assets or those of one of its subsidiaries; 

  

	 	(k)	 Liens incurred in connection with an acquisition of assets or a project financed on a non-recourse basis; 

  

	 	(l)	 Liens incurred or assumed in connection with the issuance of revenue bonds the interest on which is exempt from
federal taxation pursuant to Section 103 of the Internal Revenue Code (or any successor statute); and 

  

	 	(m)	 Liens which are incurred to extend, renew, substitute, refinance, refund or replace (and successive extensions,
renewals, substitutions, refinancings, refundings or replacements) any Lien, or any Indebtedness which is secured by any Lien (including any premium required to be paid and costs and expenses incurred in connection with such extensions, renewals,
substitutions, refinancings, refundings or replacements), permitted to be created or incurred under the Indenture. 

Notwithstanding the above, the Issuer or any of its domestic wholly-owned subsidiaries may, without equally and ratably securing the 2060
Notes, create or incur Liens which would otherwise be subject to the restrictions set forth in the preceding paragraph, if after giving effect thereto, Aggregate Debt does not exceed 15% of the Issuer’s Consolidated Net Tangible Assets on a
consolidated basis calculated as of the date of the creation or incurrence of the Lien. 
 Limitation on Sale and Leaseback Transactions. The Issuer
covenants that, so long as any of the 2060 Notes remain outstanding, it shall not, nor shall it permit any of its domestic wholly-owned subsidiaries to, enter into any arrangement with any Person providing for the leasing by the Issuer or any of its
domestic wholly-owned subsidiaries of any Principal Property, whether now owned or hereafter acquired, that has been or is to be sold or transferred by the Issuer or such of its domestic wholly-owned subsidiaries to such Person with the intention of
taking back a lease of such Principal Property, a “sale and leaseback transaction,” unless: 
  

	 	(a)	 the Issuer or such domestic wholly-owned subsidiary would be entitled, at the effective date of the sale or
transfer, to incur Indebtedness secured by a Lien on the Principal Property to be leased in an amount equal to Attributable Debt with respect to the sale and leaseback transaction, without equally and ratably securing the 2060 Notes pursuant to the
first paragraph of “—Limitation on Liens” above; 

  
 D-8 

	 	(b)	 the net proceeds of the sale or transfer of the Principal Property to be leased are applied within 365 days of
the effective date of the sale and leaseback transaction to the purchase, construction, development, expansion, improvement or acquisition of other property or to the repayment of any series of the Issuer’s notes or any of the Issuer’s
other Indebtedness (other than Indebtedness that is contractually subordinated to the 2060 Notes) or any Indebtedness of one or more of the Issuer’s subsidiaries; 

 

	 	(c)	 such sale and leaseback transaction was entered into prior to the closing date of the offering of the 2060
Notes or any extension, renewal, refinancing, replacement, amendment or modification of such transaction so long as the affected Principal Property is substantially the same as or similar in nature to the Principal Property subject to the sale and
leaseback transaction extended, renewed, refinanced, replaced, amended or modified; 

  

	 	(d)	 such sale and leaseback transaction involves a lease for not more than three years (or which may be terminated
by the Issuer or one of its domestic wholly-owned subsidiaries within a period of not more than three years); or 

  

	 	(e)	 such sale and leaseback transaction with respect to any Principal Property was between only the Issuer and one
of its subsidiaries or only between the Issuer’s subsidiaries. 

 Notwithstanding the foregoing, the Issuer or any of
its domestic wholly-owned subsidiaries may enter into a sale and leaseback transaction, without complying with the requirements of the preceding paragraph, if, after giving effect thereto, Aggregate Debt does not exceed 15% of the Issuer’s
Consolidated Net Tangible Assets on a consolidated basis calculated as of the date of the sale and leaseback transaction. 
 “Aggregate
Debt” means the sum of the following, as of the date of determination, (1) the aggregate principal amount of the Issuer’s and its domestic wholly-owned subsidiaries’ Indebtedness incurred after the closing date of the offering of
the 2060 Notes and secured by Liens incurred pursuant to the second paragraph under “—Limitation on Liens” above and (2) the Issuer’s and its domestic wholly-owned subsidiaries’ Attributable Debt in respect of sale and
leaseback transactions entered into after the closing date of the offering of the 2060 Notes pursuant to the second paragraph under “—Limitation on Sale and Leaseback Transactions” above. 

“Attributable Debt” means, in connection with a sale and leaseback transaction, the lesser of: (1) the fair market value of the
assets subject to such sale and leaseback transaction, as determined in good faith by the Issuer’s Board of Directors; and (2) the present value of the obligations of the lessee for net rental payments during the term of the related lease
discounted at the rate of interest set forth or implicit in the terms of such lease or, if not practicable to determine such rate, the weighted average interest rate per annum borne by the debt securities of each series outstanding pursuant to the
Indenture and subject to limitations on sale and leaseback transaction covenants, compounded semi-annually in either case as determined by the Issuer’s principal accounting or financial officer. 

“Consolidated Net Tangible Assets” means, as of any date of determination, the aggregate amount of assets after deducting therefrom:
(1) all current liabilities, except for notes and loans payable, current maturities of long-term debt, current portion of convertible securities, current portion of deferred revenue and obligations under capital leases; and (2) intangible
assets to the extent included in 

  
 D-9 

 
the aggregate amount of assets, net of applicable reserves and any amortized amounts, all as reflected on the Issuer’s most recent consolidated balance sheet prepared in accordance with
GAAP. 
 “GAAP” means accounting principles generally accepted in the United States of America, which are in effect as of the date
of application thereof. 
 “Indebtedness” of any specified Person means, without duplication, any indebtedness, whether or not
contingent, in respect of borrowed money or that is evidenced by bonds, notes, debentures or similar instruments, if and to the extent any of the foregoing indebtedness would appear as a liability upon an unconsolidated balance sheet of such Person
(but does not include contingent liabilities which appear only in a footnote to a balance sheet). In addition, the term “Indebtedness” includes any guarantee by the specified Person of Indebtedness of any other Person, whether or not any
such items would appear as a liability on a balance sheet of the specified Person in accordance with GAAP. 
 “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 Property” means any single parcel of real property or any permanent improvement thereon (1) owned by the Issuer or
any of its domestic wholly-owned subsidiaries located in the United States, including the Issuer’s principal corporate office, any manufacturing facility or plant or any portion thereof and (2) having a book value, as of the date of
determination, in excess of 3% of the Issuer’s most recently calculated Consolidated Net Tangible Assets. Principal Property does not include any property that the Issuer’s Board of Directors has determined not to be of material importance
to the business conducted by the Issuer and its subsidiaries, taken as a whole. 
  

	 	19.	 Conversion and Exchange. The 2060 Notes shall not be convertible into or exchangeable for any other
security. 

  

	 	20.	 Additional Issues. The Issuer may, without notice to or the consent of the Holders of the 2060 Notes,
create and issue additional notes with the same terms as the 2060 Notes in all respects, except for the issue date, the public offering price and, under certain circumstances, the first interest payment date. Such additional notes shall be
consolidated and form a single series with the 2060 Notes; provided that if such additional notes are not fungible with the 2060 Notes for U.S. federal income tax purposes, such additional notes will have a separate CUSIP number.

  

	 	21.	 Other Terms. The 2060 Notes shall have the other terms and shall be substantially in the form set forth
in the form of the 2060 Notes attached hereto as Annex D-1. In case of any conflict between this Annex D and the form of the 2060 Notes, the form of the 2060 Notes shall control. 

Capitalized terms used but not otherwise defined in this Annex D shall have the respective meanings ascribed to such terms in the Indenture.

  
 D-10 

 ANNEX D-1 

[FORM OF 2060 Note] 
  

			
	REGISTERED	  	REGISTERED

 THIS NOTE IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE
NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS AND UNTIL THIS NOTE IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE REGISTERED FORM, THIS NOTES MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO THE NOMINEE OF THE
DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. 

 

			
	 No. [    ]
	  	CUSIP NO. 67066G AJ3
		  	ISIN NO. US67066GAJ31

 NVIDIA CORPORATION 

3.700% Notes due 2060 
 NVIDIA
Corporation, a Delaware corporation (the “Issuer,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of              Dollars ($        ) on April 1, 2060 and to pay interest on said principal sum from March 31, 2020, or from
the most recent interest payment date to which interest has been paid or duly provided for, semi-annually in arrears on April 1 and October 1 (each such date, an “Interest Payment Date”) of each year commencing on October 1,
2020, at the rate of 3.700% per annum until the principal hereof shall have become due and payable. 
 The amount of interest payable on any
Interest Payment Date shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event that any date on which the principal or interest
payable on this Note is not a Business Day, then payment of principal or interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of such delay). The interest
installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture (referred to on the reverse hereof) be paid to the person in whose name this Note is registered at the close of
business on the record date for such interest installment, which shall be the close of business on the immediately preceding March 16 and September 16 prior to such Interest Payment Date, as applicable. Any such interest installment not
punctually paid or duly provided for shall forthwith cease to be payable to the registered Holders on such record date and may be paid to the person in whose name this Note is registered at the close of business on a subsequent record date (which
shall be not less than five Business Days prior to the date of payment of such defaulted interest), notice whereof shall be sent by or on behalf of the Issuer to the registered Holders of Notes not less than 15 days preceding such subsequent record
date, all as more fully provided in the Indenture. The principal of and the interest on this Note shall be payable at the office or agency of the Issuer maintained for that purpose in any coin or currency of the United States of America that at the
time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Issuer by check sent to the person entitled thereto at such address as shall appear
in the registry books of the Issuer; provided, further, that for so long as this Note is represented by a Registered Global Security, payment of principal, premium, if any, or interest on this Note may be made by wire transfer to the
account of the Depositary or its nominee. 

  
 D-1-1 

 Unless the certificate of authentication hereon has been executed by or on behalf of the
Trustee (as defined below) under the Indenture (as defined below), by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

Capitalized terms used in this Note which are defined in the Indenture shall have the respective meanings assigned to them in the Indenture.

 The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have the same
effect as though fully set forth at this place. 

  
 D-1-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed, manually or
in facsimile. 
  

			
	 NVIDIA
CORPORATION

 
			
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities 
 referred to in the
within-mentioned 
 Indenture. 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
as Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

		
	 Dated:
	 	  

  
 D-1-3 

 [FORM OF REVERSE SIDE OF NOTE] 

This Note is one of a duly authorized series of securities (the “Securities”) of the Issuer designated as its 3.700% Notes due 2060
(the “Notes”). The Securities are all issued or to be issued under and pursuant to an Indenture, dated as of September 16, 2016 (the “Indenture”), duly executed and delivered between the Issuer and Wells Fargo Bank, National
Association as trustee with respect to the Notes (the “Trustee”), to which the Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Issuer, the Trustee and
the Holders of the Securities and the terms upon which the Notes are to be authenticated and delivered. The terms of individual series of Securities may vary with respect to interest rate or interest rate formulas, issue dates, maturity, redemption,
repayment, currency of payment and otherwise. 
 The Notes are issuable only as Registered Securities in minimum denominations of $2,000 and
integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes as requested by the Holder surrendering the
same. 
 Except as set forth below, this Note is not redeemable. This Note is not entitled to the benefit of a sinking fund or any analogous
provision. 
 Prior to October 1, 2059, the Notes may be redeemed, in whole at any time or in part from time to time, at the option of
the Issuer, for cash, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed or (ii) an amount, as determined by the Quotation Agent, equal to the sum of the present values of the remaining scheduled
payments of principal and interest thereon that would be due if the Notes matured on October 1, 2059 (not including any portion of such payments of interest accrued to the date of redemption), discounted to the date of redemption on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points, plus, in each case, accrued and unpaid
interest, if any, thereon to, but not including, the date of redemption; provided that the principal amount of any Note remaining outstanding after a redemption in part shall be $2,000 or a higher integral multiple of $1,000. Calculation of the
redemption price will be made by the Issuer or on the Issuer’s behalf by such person as the Issuer designates; provided that such calculation or the correctness thereof shall not be a duty or obligation of the Trustee. In addition, on or after
October 1, 2059, the Issuer may redeem the Notes, in whole at any time or in part from time to time, at its option, for cash, at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but not
including, the redemption date. Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable on the interest payment date to the
registered Holders as of the close of business on the relevant record date. Notices will be sent (or in the case of Notes held in book-entry form, be transmitted electronically) to Holders of the Notes to be redeemed at least 10 and not more than 60
days prior to the date fixed for redemption, except that redemption notices may be sent more than 60 days prior to a redemption if the notice is issued in connection with a legal covenant defeasance of the Notes or a satisfaction and or discharge of
the Notes pursuant to Section 10.1 of the Indenture. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption. If less
than all of the Notes are to be redeemed, the Notes to be redeemed will be selected by the Trustee by lot or in accordance with the procedures of the Depositary. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of
the Notes. 

  
 D-1-1 

 “Comparable Treasury Price” means, with respect to any redemption date,
(i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Issuer is provided fewer than four such Reference
Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the Reference Treasury Dealer appointed
by the Issuer to act as the Quotation Agent from time to time. 
 “Reference Treasury Dealer” means Goldman, Sachs & Co.
LLC and its successors; provided, however, that the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury
Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Issuer by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity
of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price on such redemption date. 

If a Change of Control Repurchase Event occurs, unless the Issuer has previously exercised its right to redeem the Notes in whole as described
above, the Issuer will be required to make an offer to each Holder of Notes to repurchase all or any part (in minimum denominations of $2,000 and integral multiples of $1,000 above that amount) of such Holder’s Notes at a repurchase price in
cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to, but not including, the date of such repurchase. Within 30 days following any Change of Control
Repurchase Event or, at the Issuer’s option, prior to any Change of Control, but after the public announcement of an impending Change of Control, the Issuer will send a notice to each Holder, with a copy to the Trustee, describing the
transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase Notes on the payment date specified in the notice, which date will be no earlier than 30 days and no later than 60 days
from the date such notice is sent (the “Change of Control Payment Date”). The notice shall, if sent prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control
Repurchase Event occurring on or prior to the payment date specified in the notice. 
 The Issuer will comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder, to the extent those laws and regulations are applicable in
connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Notes,
the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the Notes by virtue of such conflict. 

  
 D-1-2 

 On the Change of Control Payment Date, the Issuer will be required, to the extent lawful,
to: 
  

	 	(a)	 accept for payment all Notes or portions of Notes (in minimum denominations of $2,000 and integral multiples of
$1,000 above that amount) properly tendered pursuant to the Issuer’s offer; 

  

	 	(b)	 deposit with the paying agent, no later than 11:00 a.m., New York City time, an amount equal to the aggregate
purchase price in respect of all Notes or portions of Notes properly tendered; and 

  

	 	(c)	 deliver or cause to be delivered to the Trustee for cancellation the Notes properly accepted, together with an
officers’ certificate stating the aggregate principal amount of Notes being repurchased by the Issuer. 

 The paying
agent will promptly send (or, in the case of Notes held in book-entry form, transmit electronically) to each Holder of Notes properly tendered the repurchase price for such Notes, and the Trustee will promptly authenticate and send (or cause to be
transferred by book-entry) to each Holder a new Note equal in principal amount to any unrepurchased portion of any Notes surrendered; provided, that each new Note will be in minimum denominations of $2,000 and integral multiples of $1,000 above that
amount. 
 The Issuer will not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if (i) a
third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Issuer and the third party repurchases all Notes properly tendered and not withdrawn under its offer or
(ii) a valid notice of redemption of all of the Notes has been given, or will be given contemporaneously with the Change of Control Repurchase Event as described above. In addition, the Issuer will not repurchase any Notes if the notes have
been accelerated following an event of default, other than an acceleration following a default in the payment of the aggregate purchase price upon a Change of Control Repurchase Event. 

“Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on
any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control
(which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment Grade
Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the
definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Issuer that the reduction was the
result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below
Investment Grade Rating Event). 
 “Change of Control” means the occurrence of any of the following: (1) the direct or
indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its subsidiaries, taken as
a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Issuer or one of its subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of
the Issuer’s voting stock; or (3) 

  
 D-1-3 

 
the adoption of a plan by the Issuer’s Board of Directors relating to the Issuer’s liquidation or dissolution. Notwithstanding the foregoing, a transaction will not be deemed to result
in a Change of Control if (a) the Issuer becomes a wholly-owned subsidiary of a holding company and (b) the holders of the voting stock of such holding company immediately following that transaction are substantially the same as the
holders of the Issuer’s voting stock immediately prior to that transaction. 
 “Change of Control Repurchase Event” means the
occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Investment Grade Rating” means a rating
equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 

“Moody’s” means Moody’s Investors Service, Inc., and its successors. 

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases to rate
the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange
Act, selected by the Issuer as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 
 “S&P”
means S&P Global Ratings, a division of S&P Global, Inc., and its successors. 
 If an Event of Default with respect to the Notes
shall occur and be continuing, the principal of all the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of the Holders of not less than a majority in
aggregate principal amount of the Senior Securities or Subordinated Securities, as the case may be, of all series issued under such Indenture then outstanding and affected (each voting as one class), to add any provisions to, or change in any
manner, eliminate or waive any of the provisions of, such Indenture or modify in any manner the rights of the Holders of the Securities or Coupons so affected; provided that the Issuer and the Trustee, may not, without the consent
of the Holder of each Outstanding Security affected thereby, (i) extend the final maturity of the principal of any Security or reduce the principal amount thereof or premium thereon, if any, or reduce the rate or extend the time of payment of
interest thereon, or reduce any amount payable on redemption thereof or change the currency in which the principal thereof (other than as otherwise may be provided with respect to such series), premium, if any, or interest thereon is payable or
reduce the amount of the principal of any Original Issue Discount Security that is payable upon acceleration or provable in bankruptcy, or in the case of Subordinated Securities of any series, modify any of the subordination provisions or the
definition of “Senior Indebtedness” relating to such series in a manner adverse to the Holders of such Subordinated Securities, or alter certain provisions of the Indenture relating to Securities not denominated in Dollars or the Judgment
Currency of such Securities or impair or affect the right of any Securityholder to institute suit for the enforcement of any payment thereof when due or, if the Securities provide therefor, any right of repayment at the option of the Securityholder
or (ii) reduce the aforesaid percentage in principal amount of Securities of any series issued under the Indenture, the consent of the Holders of which is required for any such modification. It is also provided in the Indenture that, with
respect to certain defaults or Events of Default regarding the Securities of any series, the Holders of a majority in aggregate principal amount Outstanding of the Securities of each such series, each such series voting as a separate class (or, of
all Securities, as the case may be voting as a single class) may under certain circumstances waive all defaults with respect to each such series (or with respect to all the Securities, as the case may be) and rescind and annul a declaration of
default and its consequences, but no such waiver or rescission and annulment shall extend to or affect any subsequent default or shall impair any right consequent thereto. 

  
 D-1-4 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the time, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be registered on the registry
books of the Issuer, upon surrender of this Note for registration of transfer at the office or agency of the Issuer maintained by the Issuer for such purpose in Minneapolis, Minnesota, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Issuer and the Trustee duly executed by, the Holder hereof or by its attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal
amount will be issued to the designated transferee or transferees. 
 No service charge shall be made for any such registration of transfer
or exchange, but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may
treat the person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by notice to the contrary. 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

  
 D-1-5 

 [FORM OF SCHEDULE FOR ENDORSEMENTS ON REGISTERED 

GLOBAL SECURITIES TO REFLECT CHANGES IN PRINCIPAL AMOUNT] 

Schedule A 
 Changes to Principal
Amount of Registered Global Securities 
  

							
	 Date
	  	 Principal Amount

of Notes
 by which this Registered
Global
Security is to be
 Reduced or Increased,

and Reason for

Reduction or Increase
	  	 Remaining Principal

Amount of this
 Registered

Global Security
	  	 Notation Made By

	
                
            
	  	                                	  	                                   
 	  	                                   
 
	
                
            
	  	                                	  	                                   
 	  	                                   
 
	
                
            
	  	                                	  	                                   
 	  	                                   
 
	
                
            
	  	                                	  	                                   
 	  	                                   
 
	
                
            
	  	                                	  	                                   
 	  	                                   
 
	
                
            
	  	                                	  	                                   
 	  	                                   
 
	
                
            
	  	                                	  	                                   
 	  	                                   
 
	
                
            
	  	                                	  	                                   
 	  	                                   
 
	
                
            
	  	                                	  	                                   
 	  	                                   
 
	
                
            
	  	                                	  	                                   
 	  	                                   
 
	
                
            
	  	                                	  	                                   
 	  	                                   
 
	
                
            
	  	                                	  	                                   
 	  	                                   
 

  
 D-1-6Exhibit 4.1

    

     

    

    
      Execution Version

      
        

        

        NEITHER THIS WARRANT NOR THE SECURITIES AS TO WHICH THIS WARRANT MAY BE EXERCISED HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE, AND,
          ACCORDINGLY, MAY NOT BE OFFERED OR SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR PURSUANT TO AN
          AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT,
          THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.   IN ADDITION, EXERCISE OF THIS WARRANT IS SUBJECT TO LIMITATIONS SPECIFIED IN THIS WARRANT.

         

        

      

      
        COMMON STOCK PURCHASE WARRANT

        TRANS WORLD ENTERTAINMENT CORPORATION

         

         

        

        Warrant Shares: 127,208

      

      
        Date of Issuance: March 30, 2020 (the “Issuance Date”)

      

      
         

        

        THIS COMMON STOCK PURCHASE WARRANT (this “Warrant”) certifies that, for value
            received (in connection with Alimco Re Ltd. providing a $2,718,000 loan to Etailz, Inc. (“Etailz”), a subsidiary of Trans World Entertainment Corporation (the “Company”)), Alimco Re Ltd. (including its permitted and registered assigns, the “Holder”) is
            entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date of issuance hereof, to purchase from the Company up to 127,208
            shares of Common Stock (as defined below) (the “Warrant Shares”) at the Exercise Price per share. The number of Warrant Shares for which this Warrant may be
            exercised is subject to adjustment in accordance with the terms hereof.

        

        

        Capitalized terms used in this Warrant shall have the meanings set forth in the body of this Warrant or in Section 20 below. For purposes of this Warrant, the term “Exercise

            Price” shall mean $0.01 per Warrant Share, and the term “Exercise Period” shall mean the period commencing on the Issuance Date and ending on the earlier of (a) 5:00 p.m. Eastern Standard Time on the five (5)-year anniversary
          thereof, or if such day is not a Business Day on the next succeeding Business Day, or (b) the occurrence of a Fundamental Transaction.

        

        

      

      
        1.           EXERCISE OF WARRANT.

         

          

      

      
        (a)          Mechanics of Exercise. Subject to the terms and conditions hereof, the
            rights represented by this Warrant may be exercised in whole or in part at any time or times during the Exercise Period by delivery of a written notice on any Business Day, in the form attached hereto as Exhibit A (the “Exercise
              Notice”), of the Holder’s election to exercise this Warrant. The Holder shall not be required to deliver the original Warrant in order to effect an exercise hereunder. Partial exercises of this Warrant resulting in purchases of a portion
            of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased.  On or before
            the fifth (5th) Business Day (the “Warrant Share Delivery Date”) following the date on which the Company receives the Exercise Notice (which must be received by the Company prior to 5 p.m. Eastern Standard Time to count as received on
            such date) and payment of an amount equal to the applicable Exercise Price multiplied by the number of Warrant Shares as to which all or a portion of this Warrant is being exercised (the “Aggregate Exercise Price”, and together with the
            Exercise Notice, the “Exercise Deliveries”) in cash or by wire transfer of immediately available funds (or by cashless exercise, in which case there shall be no Aggregate Exercise Price provided), the Company may (or may direct its
            transfer agent to) deliver, to the address specified in the Exercise Notice, a notice indicating the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise, or otherwise provide confirmation of such
            entitlement. Upon delivery of the Exercise Deliveries, but subject to Section 1(c), the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has
            been exercised, irrespective of the date of delivery of the notice in respect of such Warrant Shares. If this Warrant is submitted in connection with any exercise and the number of Warrant Shares represented by this Warrant is greater than the
            number of Warrant Shares being acquired upon an exercise, then the Company shall as soon as practicable and in no event later than five (5) Business Days after any exercise and at its own expense, issue a new Warrant (in accordance with Section

              5) representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this Warrant is exercised.

         

          

      

      
        
          

      

      
      
        (b)          Cashless Exercise. In the event of a Fundamental Transaction, the Holder
            shall, and at any time during the Exercise Period the Holder may at its option, elect to receive, pursuant to a cashless exercise in lieu of a cash exercise, Warrant Shares equal to the value of this Warrant determined in the manner described
            below (or of any portion thereof being exercised) by surrender of this Warrant and an Exercise Notice, in which event the Company shall issue to Holder a number of Warrant Shares computed using the following formula:

         

      

      Y(A – B)

      X          =                   A

      Where:

      

      

      X          =              the number of Warrant Shares to be issued to the Holder;

      Y          =              the total number of Warrant Shares for which the Holder has elected to exercise this Warrant pursuant to Section 1(a);

      A          =              the fair market value of one Warrant Share at the time of exercise of this Warrant as herein provided; and

      B          =               the Exercise Price.

      
         

        

        (c)          Fair Market Value. For purposes of this Section 1, the fair market value of a Warrant Share means, as of any particular date: (a) the
          volume weighted average of the closing sales prices of the Common Stock for such day on all domestic securities exchanges on which the Common Stock may at the time be listed; (b) if there have been no sales of the Common Stock on any such
          exchange on any such day, the average of the highest bid and lowest asked prices for the Common Stock on all such exchanges at the end of such day; (c) if on any such day the Common Stock is not listed on a domestic securities exchange, the
          closing sales price of the Common Stock as quoted on the Financial Industry Regulatory Authority OTC Bulletin Board electronic interdealer quotation system (the “OTC Bulletin Board”), the OTC Markets Group Inc. electronic inter-dealer quotation system (including OTCQX, OTCQB and OTC Pink) (the “Pink OTC Markets”) or similar quotation system or association for such day; or (d) if there
          have been no sales of the Common Stock on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association on such day, the average of the highest bid and lowest asked prices for the Common Stock quoted on the OTC Bulletin
          Board, the Pink OTC Markets or similar quotation system or association at the end of such day; in each case, averaged over twenty (20) consecutive Business Days ending on the Business Day immediately prior to the day as of which "fair market
          value" is being determined; provided that if the Common Stock is listed on any domestic securities exchange, the term "Business Day" as used in this sentence means Business Days on which such exchange is open for trading.  If at any time
          the Common Stock is not listed on any domestic securities exchange or quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association, the "fair market value" of a Warrant Share shall be the fair market value per
          share as determined jointly by the board of directors of the Company and the Holder; provided, that if the board of directors of the Company and the Holder are unable to agree on the fair market
          value of a Warrant Share within a reasonable period of time (not to exceed thirty (30) days from the Company's receipt of the Exercise Notice), such fair market value shall be determined by a nationally recognized investment banking, accounting
          or valuation firm jointly selected by the board of directors of the Company and the Holder. The determination of such firm shall be final and conclusive, and the fees and expenses of such valuation firm shall be borne pro rata by the Company and
          the Holder based on the amount by which each party’s calculation of fair market value is different from the fair market value as determined by such valuation firm.  Notwithstanding anything to the contrary herein, this
          Warrant may not be exercised, and no Warrant Shares shall be issued in respect of hereof, until the fair market value of the Warrant Shares has been finally determined in accordance with this Section 1(c).

         

      

      
        (d)         Holder’s Exercise Limitations. The Holder shall not have the right to exercise any portion of this Warrant, and the Company shall not effect
          any exercise of this Warrant, to the extent that (i) after giving effect to the issuance of Warrant Shares as set forth in the applicable Exercise Notice, the Warrant Shares so issued, together with any and all Warrant Shares previously issued
          pursuant to a partial exercise of this Warrant, would exceed six and 24/100 percent (6.24%) of the issued and outstanding Common Stock (such amount, the “6.24% Exercise Limitation”) or (ii) any such exercise would result in an “ownership
          change” with respect to the Company within the meaning of Section 382 of the Internal Revenue Code of 1986, as amended (the “Section 382 Exercise Limitation”). The determination of whether the 6.24% Exercise Limitation applies, and the
          extent to which it applies, shall be in the sole discretion of the Holder, and the submission of an Exercise Notice shall be deemed to be the Holder’s determination of the extent to which this Warrant is exercisable.  Notwithstanding anything to
          the contrary herein, the Company shall have no obligation to determine whether the 6.24% Exercise Limitation has been exceeded at any particular time and, unless otherwise notified in writing by the Holder prior to the applicable date of
          determination, the Company shall be permitted to assume that the 6.24% Exercise Limitation has not been exceeded.  The determination of whether the Section 382 Exercise Limitation applies, and the extent to which it applies, shall be made by the
          Company in its sole discretion.  Upon the written request of the Holder, the Company shall, within two (2) Business Days, confirm to the Holder the number of shares of Common Stock then outstanding.

         

        

      

      
        2

        
          

      

      
        (e)         Anti-Dilution. If, at any time after the date hereof while this Warrant is outstanding, the Company sells or issues, any shares of Common
          Stock for less than the fair market value of the Common Stock on the date of such sale or issuance (as determined in good faith by the board of directors of the Company), such that the Warrant Shares (taking into account any such Warrant Shares
          issuable or previously issued) represent less than the 6.24% Exercise Limitation (taking into account such sale or issuance, as applicable, and based on the number of shares of Common Stock actually outstanding), then the number of Warrant Shares
          purchasable under this Warrant shall (at the time of exercise of this Warrant) be adjusted upwards, subject to the Section 382 Exercise Limitation, to an amount equal to the 6.24% Exercise Limitation, computed at the time of such issuance; provided,
          however, that such adjustment shall be rounded down to the nearest whole share of Common Stock; provided further that anything herein to the contrary notwithstanding, there shall be no adjustment to the number of Warrant
          Shares issuable upon exercise of this Warrant with respect to any Excluded Issuance.  For purposes of this Section 1(e), the following terms have the following meanings:

      

      
        

        

      

      
        “Convertible Securities” means any securities (directly or indirectly) convertible into or exchangeable for Common Stock, but excluding Options.

         

        “Excluded Issuances” means any issuance or sale (or deemed issuance or sale) by the Company after the date hereof of: (a) shares of Common Stock issued upon the exercise of
          this Warrant; (b) shares of Common Stock issued directly or upon the exercise of Options to directors, officers, employees, or consultants of the Company in connection with their service as directors of the Company, their employment by the
          Company or their retention as consultants by the Company, in each case authorized by the board of directors of the Company and issued pursuant to any of the Company’s equity incentive plans from time to time (including all such shares of Common
          Stock and Options outstanding prior to the date hereof); (c) shares of Common Stock issued upon the conversion or exercise of Options (other than Options covered by clause (b) above) issued prior to the date hereof, provided that such securities are not amended after the date hereof to increase the number of shares of Common Stock issuable thereunder or to lower the exercise or conversion price thereof; (d) shares of Common
          Stock, Options or Convertible Securities issued (i) to persons in connection with a joint venture, strategic alliance or other commercial relationship with such person (including persons that are customers, suppliers and strategic partners of the
          Company) relating to the operation of the Company's business and not for the primary purpose of raising equity capital, (ii) in connection with a transaction in which the Company, directly or indirectly, acquires another business or its tangible
          or intangible assets, or (iii) to lenders as equity kickers in connection with debt financings of the Company, in each case where such transactions have been approved by the board of directors of the Company; (e) shares of Common Stock in an
          offering for cash for the account of the Company that is underwritten on a firm commitment basis and is registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended; or (f) shares of Common Stock, Options or
          Convertible Securities issued to the lessor or vendor in any office lease or equipment lease or similar equipment financing transaction in which the Company obtains the use of such office space or equipment for its business.

         

        “Options” means any warrants or other rights or options to subscribe for or purchase Common Stock or Convertible Securities.

         

        

      

      
        3

        
          

      

      
        2.           FUNDAMENTAL TRANSACTIONS.  If, at any time while this Warrant is outstanding, (a) the Company effects any
            merger of the Company with or into another entity and the Company is not the surviving entity (such surviving entity, the “Successor Entity”), (b) the Company effects any sale of all or substantially all of its assets in one or a series
            of related transactions, (c) any tender offer or exchange offer (whether by the Company or by another individual or entity, and approved by the Company) is completed pursuant to which holders of Common Stock are permitted to tender or exchange
            their shares of Common Stock for other securities, cash or property and the holders of at least 50% of the Common Stock accept such offer, or (d) the Company effects any reclassification of the Common Stock or any compulsory share exchange
            pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (other than as a result of a subdivision or combination of shares of Common Stock) (in any such case, a “Fundamental
              Transaction”), then immediately prior to the occurrence of such Fundamental Transaction, this Warrant shall automatically be converted into the right to receive the number of shares of Common Stock of the Company for which this Warrant is
            exercisable at such time (assuming a cashless exercise and, for the avoidance of doubt, taking into account the Section 382 Exercise Limitation).

         

        3.          FRACTIONAL SHARES. The Company shall not be required to issue fractions of shares upon exercise of this
            Warrant or to distribute certificates which evidence fractional shares. In lieu of fractional shares, the Company may make payment to the Holder, at the time of exercise of this Warrant as herein provided, in an amount in cash equal to such
            fraction multiplied by the fair market value (as determined in accordance with Section 1(c)) of one Warrant Share at the time of exercise of this Warrant as herein provided.

         

        4.          WARRANT HOLDER NOT DEEMED A STOCKHOLDER.  Except as otherwise specifically provided herein, this Warrant, in
            and of itself, shall not entitle the Holder to any voting rights or other rights as a stockholder of the Company. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any
            securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

         

      

      
        5.           REISSUANCE.

         

      

      
        (a)         Lost, Stolen or Mutilated Warrant.  Upon
            receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and upon delivery of an indemnity reasonably satisfactory to it (it being understood that a written indemnification
            agreement or affidavit of loss of the Holder shall be a sufficient indemnity) and, in case of mutilation, upon surrender of such Warrant for cancellation to the Company, the Company shall execute and deliver to the Holder, in lieu hereof, a new
            Warrant of like denomination and tenor and exercisable for an equivalent number of Warrant Shares as the Warrant so lost, stolen, mutilated or destroyed.

         

          

      

      
        (b)          Issuance of New Warrants.  Whenever the Company is required to issue a new
            Warrant pursuant to the terms of this Warrant, such new Warrant shall be of like tenor with this Warrant, and shall have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date.

      

      
         

        

      

      
        6.           TRANSFER.

         

      

      
        (a)          Notice of Transfer.  Subject to compliance with applicable
            securities laws and the transfer conditions referred to in the legend endorsed hereon or otherwise set forth herein, this Warrant and all rights hereunder are transferable, in whole or in part, by the Holder, upon surrender of this Warrant to
            the Company at its then principal executive offices with a properly completed and duly executed Assignment of Warrant (in the form attached hereto as Exhibit B)
            and funds sufficient to pay any transfer taxes payable upon the making of such transfer.  By acceptance of this Warrant, the Holder agrees to give written notice to the Company before transferring this Warrant or transferring any Warrant Shares
            of such Holder’s intention to do so, describing briefly the manner of any proposed transfer. As a condition to such transfer, the prospective transferee or purchaser shall execute an Assignment of Warrant attached hereto as Exhibit B and such other documents and make such representations, warranties, and agreements as may be reasonably required by the Company solely to comply with the exemptions
            relied upon by the Company for the transfer or disposition of this Warrant or the Warrant Shares.  Upon such compliance, surrender, delivery and, if required, such payment pursuant to this Section 6(a), the Company shall execute and deliver a new Warrant or Warrants in the name of the transferee or transferees and in the denominations specified in such instrument of assignment, and shall issue to the assignor a new
            Warrant evidencing the portion of this Warrant, if any, not so assigned and this Warrant shall promptly be cancelled.  For the avoidance of doubt, any transferee and any subsequent transferee shall be subject to the 6.24% Exercise Limitation and the Section 382 Exercise Limitation.

         

          

      

      
        4

        
          

      

      
        (b)          The Holder, by acceptance of this Warrant, agrees to comply in all respects with the restrictive legend
            requirements set forth on the face of this Warrant and further agrees that it shall not offer, sell or otherwise dispose of this Warrant or any Warrant Shares to be issued upon exercise hereof except under circumstances that will not result in
            a violation of the Securities Act of 1933, as amended (the “Securities Act”).  Notwithstanding anything to the contrary, this Warrant may not be transferred or exercised unless (i) the transferor, transferee, exercising Holder or its
            designated recipient of Common Stock issuable on the exercise of such Warrant and the Company, as applicable, have completed and submitted all filings, registrations or other notifications to any governmental entity that may be required
            pursuant to applicable law in connection with such transfer or exercise, (ii) all necessary approvals or waivers, as the case may be, of any governmental entity that may be required pursuant to applicable law in connection with such transfer or
            exercise have been obtained, and (iii) any waiting periods required by applicable law for the consummation of such transfer or exercise have expired or been terminated.

         

      

      
        7.           COVENANTS OF THE COMPANY.

         

      

      
        (a)          Covenants as to Shares. The Company shall procure that all Warrant Shares
            that may be issued upon the exercise of the rights represented by this Warrant are, upon issuance, validly issued and outstanding, fully paid and nonassessable, and free from all taxes, liens and charges with respect to the issuance thereof.
            The Company shall, at all times during the Exercise Period, have authorized and reserved, free from preemptive rights, a sufficient number of shares of Common Stock to provide for the exercise of the rights represented by this Warrant (without
            regard to any limitations on exercise). If at any time during the Exercise Period the number of authorized but unissued shares of Common Stock are not sufficient to permit the full exercise of this Warrant, the Company shall take such corporate
            action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number as is sufficient for such purposes. During the Exercise Period, the Company shall not at any time increase
            the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect.

         

          

      

      
        (b)         Notices of Record Date. In the event of (i) any taking by the Company of a
            record of the holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution; (ii) the effectiveness of a registration statement on Form S-1 filed with the
            Securities and Exchange Commission and/or (iii) the consummation of a Fundamental Transaction, then the Company shall provide to the Holder, at least five (5) Business Days prior to the date of any such event, a notice pursuant to Section
              11, specifying the date on which any such action is expected to be taken or any such event is expected to occur.

      

      
        

        

      

      
        8.           REPRESENTATIONS AND WARRANTIES.

        

        

      

      
        (a)           The Company hereby represents and warrants to the Holders as of the Issuance Date as follows:

         

      

      
        
          
            	

                  	(1)	
                    The Company has all necessary power, capacity and authority to execute and deliver this Warrant, to perform its obligations hereunder, and to consummate the transactions contemplated hereby. This Warrant has
                      been duly and validly executed and delivered by the Company and, assuming the due execution and delivery by the Holder, constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance
                      with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting the enforcement of creditors’ rights generally.

                  

          

        

         

        
          
            	

                  	(2)	
                    All corporate actions on the part of the Company necessary for the issuance of this Warrant have been taken on or prior to the date hereof. The execution and delivery by the Company of this Warrant do not
                      require any filing with or approval from any governmental authority, except for filings with the United States Securities and Exchange Commission or otherwise required under Federal or state securities laws and filings made pursuant
                      to the rules and regulations of any stock exchange.

                  

             

            

          

        

      

      
        5

        
          

      

      
        
          
            	

                  	(3)	
                    The authorized capital of the Company consists, immediately prior to the Issuance Date, of 5,000,0000 shares of preferred stock, $0.01 par value (none of which are outstanding), and 200,000,000 shares
                        of common stock, $0.01 par value (1,819,437 of which are issued and outstanding (excluding, for the avoidance of doubt, treasury stock)).  The number of Warrant Shares for which this Warrant may be exercised is, as of the Issuance
                        Date, equal to six and 99/100 percent (6.99%) of the issued and outstanding Common Stock, which number is subject to
                        adjustment in accordance with the terms hereof.

                  

          

        

         

      

      
        (b)          The Holder hereby represents and warrants to the Company by acceptance of this Warrant as of Issuance Date (or such
            other date on which such Holder becomes a Holder hereunder) as follows:

         

      

      
        
          
            	

                  	(1)	
                    The Holder is an "accredited investor" as defined in Rule 501 of Regulation D promulgated under the Securities Act.  The Holder is acquiring this Warrant and the Warrant Shares to be issued upon exercise
                      hereof for investment for its own account and not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant or the Warrant Shares, except pursuant to sales registered o exempted under the
                      Securities Act.

                  

          

        

        

        

      

      
        
          
            	

                  	(2)	
                    The Holder understands and acknowledges that this Warrant and the Warrant Shares to be issued upon exercise hereof are "restricted securities" under the federal securities laws inasmuch as they are being
                      acquired from the Company in a transaction not involving a public offering and that, under such laws and applicable regulations, such securities may be resold without registration under the Securities Act only in certain limited
                      circumstances.  In addition, the Holder represents that it is familiar with Rule 144 under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act.

                  

          

        

        

        

      

      
        
          
            	

                  	(3)	
                    The Holder acknowledges that it can bear the economic and financial risk of its investment for an indefinite period, and has such knowledge and experience in financial or business matters that it is capable
                      of evaluating the merits and risks of the investment in the Warrant and the Warrant Shares. The Holder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of
                      the Warrant and the business, properties, prospects and financial condition of the Company.

                  

          

        

        

        

      

      
        9.           TERMINATION OF WARRANT. This Warrant shall expire and shall no longer be exercisable upon the earlier of
            (a) the expiration of the Exercise Period and (b) the exercise in full hereof.

         

        10.         RESTRICTIVE LEGEND. The Warrant Shares shall be stamped or otherwise imprinted with a legend in
            substantially the following form:

         

      

      THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE, AND, ACCORDINGLY, MAY
        NOT BE OFFERED OR SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR PURSUANT TO AN AVAILABLE EXEMPTION
        FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF
        WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.    IN ADDITION, EXERCISE OF THE WARRANT IS SUBJECT TO LIMITATIONS SPECIFIED IN THE WARRANT.

       

      

      
        6

        
          

      

      
        11.         NOTICES.  Any notice or other communication to be given under this Warrant shall
            be in writing and may either be delivered by hand, made by facsimile transmission, sent by electronic mail transmission, disclosed in all material respects and filed on EDGAR pursuant to the Securities Exchange Act of 1934, sent by overnight
            courier, or sent by registered mail, return receipt requested, postage prepaid, as follows: (a) if to the Holder, at the Holder’s address, facsimile number or electronic mail address set forth on the signature page hereof, or at such other
            address as the Holder shall have furnished to the Company in writing; and (b) if to the Company, at the Company’s address, facsimile number or electronic mail address set forth on the signature page hereof, or at such other address as the
            Company shall have furnished to the Holder in writing.

         

        12.         AMENDMENT AND WAIVER.  The terms of this Warrant may be amended or waived (either generally or in a
            particular instance and either retroactively or prospectively) only with the written consent of the Company and the Holder.

         

        13.         GOVERNING LAW; JURISDICTION.  This Warrant and all actions arising out of or in connection with this Warrant
            shall be governed by and construed in accordance with the laws of the State of New York without regard to principles of conflicts of law (whether of the State of New York or any other jurisdiction). EACH PARTY
              HERETO HEREBY CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN THE BOROUGH OF MANHATTAN, CITY OF NEW YORK, STATE OF NEW YORK AND IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS ARISING OUT OF OR RELATING TO THIS
              WARRANT SHALL BE LITIGATED IN SUCH COURTS.  EACH PARTY HERETO EXPRESSLY SUBMITS AND CONSENTS TO THE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS.

         

        14.        JURY TRIAL WAIVER.  THE COMPANY AND THE HOLDER HEREBY WAIVE A TRIAL BY
            JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS WARRANT.

         

        15.         ACCEPTANCE.  Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of
            the terms and conditions contained herein.

         

        16.         RIGHTS AND OBLIGATIONS SURVIVE EXERCISE OF WARRANT.  Unless otherwise provided in this Warrant, the
            rights and obligations of the Company, of the Holder and of the holder of the Warrant Shares issued upon exercise of this Warrant hereunder shall survive the exercise of this Warrant.

         

        17.         SUCCESSORS AND ASSIGNS.  The terms and provisions of this Warrant shall inure to the benefit of, and be
            binding upon, the Company, the Holder and their respective permitted successors and assigns.

         

        18.         TITLES AND SUBTITLES.  The titles and subtitles used in this Warrant are used for convenience only and are
            not to be considered in construing or interpreting this Warrant.

         

        19.         SEVERABILITY.  In the event any one or more of the provisions of this Warrant shall for any reason be held
            invalid, illegal or unenforceable, the remaining provisions of this Warrant shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid, legal and enforceable provision, which comes
            closest to the intention of the parties underlying the invalid, illegal or unenforceable provision.

         

          

      

      
        20.          CERTAIN DEFINITIONS.  For purposes of this Warrant, the following terms shall
            have the following meanings:

         

      

      
        (a)           “Business Day” means all days other than Saturdays, Sundays and any other days on which commercial banks
            in New York City are authorized or required by law to be closed for business.

         

        (b)           “Common Stock” means the Company’s common stock, par value $0.01 per share, and any other class of
            securities into which such securities may hereafter be reclassified or changed.

         

          

      

      
        7

        
          

      

      
        (c)           “Required Consents” means the material filings, registrations, notifications, approvals, waivers or
            expiration or termination of any waiting periods that are necessary or required, as set forth in Section 6(b).

      

      
        

        

      

      
        21.         WARRANT REGISTER.  The Company shall keep and properly maintain at its principal executive offices
            books for the registration of the Warrant and any transfers thereof.  The Company may deem and treat the Person in whose name the Warrant is registered on such register as the Holder thereof for all purposes, and the Company shall not be
            affected by any notice to the contrary, except any assignment, division, combination or other transfer of the Warrant effected in accordance with the provisions of this Warrant.

         

      

      
        [Signature page follows]

         

        

      

      
        8

        
          

      

      IN WITNESS WHEREOF, the Company has caused this Common Stock Purchase Warrant to be duly executed as of the Issuance Date set forth above.

      

      

      	

            	
              TRANS WORLD ENTERTAINMENT CORPORATION

            
	

            	

            
	

            	
              By: /s/ Edwin Sapienza

            
	

            	
              Name: Edwin Sapienza

            
	

            	
              Title: Chief Financial Officer

            
	

            	

            
	

            	
              Address: 38 Corporate Circle

            
	

            	

            
	

            	
              Albany, NY 12203

            
	

            	

            
	

            	
              Email: esapienza@twec.com

            
	

            	

            
	

            	
              Agreed & Accepted:

            
	

            	

            
	

            	
              ALIMCO RE LTD.

            
	

            	

            
	

            	
              By: /s/ Jonathan Marcus

            
	

            	
              Name: Jonathan Marcus

            
	

            	
              Title: CEO

            
	

            	

            
	

            	
              Address: 2336 SE Ocean Blvd., #400

            
	

            	

            
	

            	
              Stuart, FL 34996

            
	

            	

            
	

            	
              Facsimile: (619) 923-2908

              

            
	

            	

            
	 	
              Email: jon@limadvisory.com

            

      

      

      
        [Signature Page to Warrant]

      

      
        9

        
          

      

      
        EXHIBIT A

         

        

        EXERCISE NOTICE

         

        

        (To be executed by the registered holder to exercise this Common Stock Purchase Warrant)

         

        

      

      
        The Undersigned holder hereby exercises the right to purchase _________________ of the shares of Common Stock (“Warrant Shares”) of
          Trans World Entertainment Corporation, a Delaware corporation (the “Company”), evidenced by the attached copy of the Warrant (as defined below). Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth
          in the Common Stock Purchase Warrant (the “Warrant”), dated as of March 30, 2020, issued by the Company.

         

        

      

      
        
          	1.	
                  Form of Exercise Price.  The Holder intends that payment of the Exercise Price shall be made as (check one):

                

        

      

      
         

        

      

      
        
          	

                	☐	
                  a cash exercise with respect to _________________ Warrant Shares; or

                

        

      

      
        
          	

                	☐	
                  by cashless exercise pursuant to Section 1(b) of the Warrant for _________ Warrant Shares.

                

        

      

      
         

        

      

      
        
          	2.	
                  Payment of Exercise Price.  If a cash exercise is selected above, the Aggregate Exercise Price in the sum of $___________________ has been wire transferred to the Company in accordance with the terms of the Warrant.

                

        

      

      
         

        

      

      
        
          	3.	
                  Confirmation.  The undersigned hereby represents and warrants that the Required Consents have been made or obtained, as applicable.

                

        

      

      

      

      
        
          	4.	
                  Delivery of Warrant Shares.  The Company shall deliver to the holder __________________ Warrant Shares in accordance with the terms of the Warrant.

                

        

      

      

      

      	
              Date:

            	

            	

            
	

            

      	
              (Print Name of Registered Holder)

            

      

      

      	
              By:

            	

            	

            

      	
              Name:

            	

            	

            

      	
              Title:

            	

            	

            

      
         

        

         
          Exhibit A

           

          

        

      

      
        10

        
          

      

      
        EXHIBIT B

         

        

        ASSIGNMENT OF WARRANT

         

        

        (To be signed only upon authorized transfer of the Warrant)

         

        

      

      
        For Value Received, the foregoing Common Stock Purchase Warrant and all rights evidenced thereby are hereby assigned to                                 

          . By accepting such transfer, the transferee acknowledges that it has reviewed the within Common Stock Purchase Warrant and has agreed to be bound in all respects by its terms and conditions; and such transferee represents and warrants that
          it is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended.

         

        

      

      	
              Holder

            
	

            
	
              Date:

            	

            	

            

      
         

        

      

      	

            	

            
	
              (Signature) *

            	

            
	

            	

            
	

            	

            
	
              (Name)

            	

            
	

            	

            
	

            	

            
	
              (Address)

            	

            
	

            	

            
	

            	

            
	
              (Social Security or Tax Identification No.)

            	

            

      
        

        

        * The signature on this Assignment of Warrant must correspond to the name as written upon the face of the Common Stock Purchase Warrant in every particular without alteration or enlargement or any
          change whatsoever. When signing on behalf of a corporation, partnership, trust or other entity, please indicate your position(s) and title(s) with such entity.

      

      
         

        

      

      	
              Transferee

            	1

            

      	

            
	
              Date:

            	

            	

            

      

      

      	

            	

            
	
              (Signature)

            	

            
	

            	

            
	

            	

            
	
              (Name)

            	

            
	

            	

            
	

            	

            
	
              (Address)

            	

            

       

      

      
        Exhibit B

        
          11

          
            

        

         

          Execution Version

          
            

            

            NEITHER THIS WARRANT NOR THE SECURITIES AS TO WHICH THIS WARRANT MAY BE EXERCISED HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE, AND,
              ACCORDINGLY, MAY NOT BE OFFERED OR SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR PURSUANT TO AN
              AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH
              EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.   IN ADDITION, EXERCISE OF THIS WARRANT IS SUBJECT TO LIMITATIONS SPECIFIED IN THIS WARRANT.

             

            

          

          
            COMMON STOCK PURCHASE WARRANT

            TRANS WORLD ENTERTAINMENT CORPORATION

             

             

            

            Warrant Shares: 93,923

          

          
            Date of Issuance: March 30, 2020 (the “Issuance Date”)

          

          
             

            

            THIS COMMON STOCK PURCHASE WARRANT (this “Warrant”) certifies that, for value
                received (in connection with RJHDC, LLC providing a $2,006,800 loan to Etailz, Inc. (“Etailz”), a subsidiary of Trans World Entertainment Corporation (the “Company”)), RJHDC, LLC (including its permitted and registered assigns, the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date of issuance
                hereof, to purchase from the Company up to 93,923 shares of Common Stock (as defined below) (the “Warrant Shares”) at the
                Exercise Price per share. The number of Warrant Shares for which this Warrant may be exercised is subject to adjustment in accordance with the terms hereof.

            

            

            Capitalized terms used in this Warrant shall have the meanings set forth in the body of this Warrant or in Section 20 below. For purposes of this Warrant, the term “Exercise

                Price” shall mean $0.01 per Warrant Share, and the term “Exercise Period” shall mean the period commencing on the Issuance Date and ending on the earlier of (a) 5:00 p.m. Eastern Standard Time on the five (5)-year anniversary
              thereof, or if such day is not a Business Day on the next succeeding Business Day, or (b) the occurrence of a Fundamental Transaction.

            

            

          

          
            1.           EXERCISE OF WARRANT.

             

              

          

          
            (a)          Mechanics of Exercise. Subject to the terms and conditions hereof, the
                rights represented by this Warrant may be exercised in whole or in part at any time or times during the Exercise Period by delivery of a written notice on any Business Day, in the form attached hereto as Exhibit A (the “Exercise
                  Notice”), of the Holder’s election to exercise this Warrant. The Holder shall not be required to deliver the original Warrant in order to effect an exercise hereunder. Partial exercises of this Warrant resulting in purchases of a
                portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased.  On
                or before the fifth (5th) Business Day (the “Warrant Share Delivery Date”) following the date on which the Company receives the Exercise Notice (which must be received by the Company prior to 5 p.m. Eastern Standard Time to count as
                received on such date) and payment of an amount equal to the applicable Exercise Price multiplied by the number of Warrant Shares as to which all or a portion of this Warrant is being exercised (the “Aggregate Exercise Price”, and
                together with the Exercise Notice, the “Exercise Deliveries”) in cash or by wire transfer of immediately available funds (or by cashless exercise, in which case there shall be no Aggregate Exercise Price provided), the Company may
                (or may direct its transfer agent to) deliver, to the address specified in the Exercise Notice, a notice indicating the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise, or otherwise provide
                confirmation of such entitlement. Upon delivery of the Exercise Deliveries, but subject to Section 1(c), the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to
                which this Warrant has been exercised, irrespective of the date of delivery of the notice in respect of such Warrant Shares. If this Warrant is submitted in connection with any exercise and the number of Warrant Shares represented by this
                Warrant is greater than the number of Warrant Shares being acquired upon an exercise, then the Company shall as soon as practicable and in no event later than five (5) Business Days after any exercise and at its own expense, issue a new
                Warrant (in accordance with Section 5) representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this
                Warrant is exercised.

             

              

          

          
            12

            
              

          

          
            (b)          Cashless Exercise. In the event of a Fundamental Transaction, the
                Holder shall, and at any time during the Exercise Period the Holder may at its option, elect to receive, pursuant to a cashless exercise in lieu of a cash exercise, Warrant Shares equal to the value of this Warrant determined in the manner
                described below (or of any portion thereof being exercised) by surrender of this Warrant and an Exercise Notice, in which event the Company shall issue to Holder a number of Warrant Shares computed using the following formula:

             

          

          Y(A – B)

          X          =                   A

          Where:

          

          

          X          =              the number of Warrant Shares to be issued to the Holder;

          Y          =              the total number of Warrant Shares for which the Holder has elected to exercise this Warrant pursuant to Section 1(a);

          A          =              the fair market value of one Warrant Share at the time of exercise of this Warrant as herein provided; and

          B          =               the Exercise Price.

          
             

            

            (c)          Fair Market Value. For purposes of this Section 1, the fair market value of a Warrant Share means, as of any particular date: (a)
              the volume weighted average of the closing sales prices of the Common Stock for such day on all domestic securities exchanges on which the Common Stock may at the time be listed; (b) if there have been no sales of the Common Stock on any such
              exchange on any such day, the average of the highest bid and lowest asked prices for the Common Stock on all such exchanges at the end of such day; (c) if on any such day the Common Stock is not listed on a domestic securities exchange, the
              closing sales price of the Common Stock as quoted on the Financial Industry Regulatory Authority OTC Bulletin Board electronic interdealer quotation system (the “OTC Bulletin Board”), the OTC Markets Group Inc. electronic inter-dealer quotation system (including OTCQX, OTCQB and OTC Pink) (the “Pink OTC Markets”) or similar quotation system or association for such day; or (d) if
              there have been no sales of the Common Stock on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association on such day, the average of the highest bid and lowest asked prices for the Common Stock quoted on the OTC
              Bulletin Board, the Pink OTC Markets or similar quotation system or association at the end of such day; in each case, averaged over twenty (20) consecutive Business Days ending on the Business Day immediately prior to the day as of which
              "fair market value" is being determined; provided that if the Common Stock is listed on any domestic securities exchange, the term "Business Day" as used in this sentence means Business Days on which such exchange is open for
              trading.  If at any time the Common Stock is not listed on any domestic securities exchange or quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association, the "fair market value" of a Warrant Share shall
              be the fair market value per share as determined jointly by the board of directors of the Company and the Holder; provided, that if the board of directors of the Company and the Holder are
              unable to agree on the fair market value of a Warrant Share within a reasonable period of time (not to exceed thirty (30) days from the Company's receipt of the Exercise Notice), such fair market value shall be determined by a nationally
              recognized investment banking, accounting or valuation firm jointly selected by the board of directors of the Company and the Holder. The determination of such firm shall be final and conclusive, and the fees and expenses of such valuation
              firm shall be borne pro rata by the Company and the Holder based on the amount by which each party’s calculation of fair market value is different from the fair market value as determined by such valuation firm.  Notwithstanding anything to
              the contrary herein, this Warrant may not be exercised, and no Warrant Shares shall be issued in respect of hereof, until the fair market value of the Warrant Shares has been finally determined in accordance with this Section 1(c).

             

          

          
            (d)         Holder’s Exercise Limitations. The Holder shall not have the right to exercise any portion of this Warrant, and the Company shall not
              effect any exercise of this Warrant, to the extent that (i) after giving effect to the issuance of Warrant Shares as set forth in the applicable Exercise Notice, the Warrant Shares so issued, together with any and all Warrant Shares
              previously issued pursuant to a partial exercise of this Warrant, would exceed four and 61/100 percent (4.61%) of the issued and outstanding Common Stock (such amount, the “4.61% Exercise Limitation”) or (ii) any such exercise would
              result in an “ownership change” with respect to the Company within the meaning of Section 382 of the Internal Revenue Code of 1986, as amended (the “Section 382 Exercise Limitation”). The determination of whether the 4.61% Exercise
              Limitation applies, and the extent to which it applies, shall be in the sole discretion of the Holder, and the submission of an Exercise Notice shall be deemed to be the Holder’s determination of the extent to which this Warrant is
              exercisable.  Notwithstanding anything to the contrary herein, the Company shall have no obligation to determine whether the 4.61% Exercise Limitation has been exceeded at any particular time and, unless otherwise notified in writing by the
              Holder prior to the applicable date of determination, the Company shall be permitted to assume that the 4.61% Exercise Limitation has not been exceeded.  The determination of whether the Section 382 Exercise Limitation applies, and the extent
              to which it applies, shall be made by the Company in its sole discretion.  Upon the written request of the Holder, the Company shall, within two (2) Business Days, confirm to the Holder the number of shares of Common Stock then outstanding.

             

            

          

          
            13

            
              

          

          
            (e)         Anti-Dilution. If, at any time after the date hereof while this Warrant is outstanding, the Company sells or issues, any shares of
              Common Stock for less than the fair market value of the Common Stock on the date of such sale or issuance (as determined in good faith by the board of directors of the Company), such that the Warrant Shares (taking into account any such
              Warrant Shares issuable or previously issued) represent less than the 4.61% Exercise Limitation (taking into account such sale or issuance, as applicable, and based on the number of shares of Common Stock actually outstanding), then the
              number of Warrant Shares purchasable under this Warrant shall (at the time of exercise of this Warrant) be adjusted upwards, subject to the Section 382 Exercise Limitation, to an amount equal to the 4.61% Exercise Limitation, computed at the
              time of such issuance; provided, however, that such adjustment shall be rounded down to the nearest whole share of Common Stock; provided further that anything herein to the contrary notwithstanding, there shall
              be no adjustment to the number of Warrant Shares issuable upon exercise of this Warrant with respect to any Excluded Issuance.  For purposes of this Section 1(e), the following terms have the following meanings:

          

          
            

            

          

          
            “Convertible Securities” means any securities (directly or indirectly) convertible into or exchangeable for Common Stock, but excluding Options.

             

            “Excluded Issuances” means any issuance or sale (or deemed issuance or sale) by the Company after the date hereof of: (a) shares of Common Stock issued upon the
              exercise of this Warrant; (b) shares of Common Stock issued directly or upon the exercise of Options to directors, officers, employees, or consultants of the Company in connection with their service as directors of the Company, their
              employment by the Company or their retention as consultants by the Company, in each case authorized by the board of directors of the Company and issued pursuant to any of the Company’s equity incentive plans from time to time (including all
              such shares of Common Stock and Options outstanding prior to the date hereof); (c) shares of Common Stock issued upon the conversion or exercise of Options (other than Options covered by clause (b) above) issued prior to the date hereof, provided that such securities are not amended after the date hereof to increase the number of shares of Common Stock issuable thereunder or to lower the exercise or conversion price thereof; (d) shares of Common
              Stock, Options or Convertible Securities issued (i) to persons in connection with a joint venture, strategic alliance or other commercial relationship with such person (including persons that are customers, suppliers and strategic partners of
              the Company) relating to the operation of the Company's business and not for the primary purpose of raising equity capital, (ii) in connection with a transaction in which the Company, directly or indirectly, acquires another business or its
              tangible or intangible assets, or (iii) to lenders as equity kickers in connection with debt financings of the Company, in each case where such transactions have been approved by the board of directors of the Company; (e) shares of Common
              Stock in an offering for cash for the account of the Company that is underwritten on a firm commitment basis and is registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended; or (f) shares of Common
              Stock, Options or Convertible Securities issued to the lessor or vendor in any office lease or equipment lease or similar equipment financing transaction in which the Company obtains the use of such office space or equipment for its business.

             

            “Options” means any warrants or other rights or options to subscribe for or purchase Common Stock or Convertible Securities.

             

            

          

          
            14

            
              

          

          
            2.           FUNDAMENTAL TRANSACTIONS.  If, at any time while this Warrant is outstanding, (a) the Company effects
                any merger of the Company with or into another entity and the Company is not the surviving entity (such surviving entity, the “Successor Entity”), (b) the Company effects any sale of all or substantially all of its assets in one or a
                series of related transactions, (c) any tender offer or exchange offer (whether by the Company or by another individual or entity, and approved by the Company) is completed pursuant to which holders of Common Stock are permitted to tender
                or exchange their shares of Common Stock for other securities, cash or property and the holders of at least 50% of the Common Stock accept such offer, or (d) the Company effects any reclassification of the Common Stock or any compulsory
                share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (other than as a result of a subdivision or combination of shares of Common Stock) (in any such case, a “Fundamental

                  Transaction”), then immediately prior to the occurrence of such Fundamental Transaction, this Warrant shall automatically be converted into the right to receive the number of shares of Common Stock of the Company for which this
                Warrant is exercisable at such time (assuming a cashless exercise and, for the avoidance of doubt, taking into account the Section 382 Exercise Limitation).

             

            3.          FRACTIONAL SHARES. The Company shall not be required to issue fractions of shares upon exercise of this
                Warrant or to distribute certificates which evidence fractional shares. In lieu of fractional shares, the Company may make payment to the Holder, at the time of exercise of this Warrant as herein provided, in an amount in cash equal to such
                fraction multiplied by the fair market value (as determined in accordance with Section 1(c)) of one Warrant Share at the time of exercise of this Warrant as herein provided.

             

            4.          WARRANT HOLDER NOT DEEMED A STOCKHOLDER.  Except as otherwise specifically provided herein, this
                Warrant, in and of itself, shall not entitle the Holder to any voting rights or other rights as a stockholder of the Company. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to
                purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

             

          

          
            5.           REISSUANCE.

             

          

          
            (a)         Lost, Stolen or Mutilated Warrant.  Upon receipt of evidence
                reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and upon delivery of an indemnity reasonably satisfactory to it (it being understood that a written indemnification agreement or affidavit
                of loss of the Holder shall be a sufficient indemnity) and, in case of mutilation, upon surrender of such Warrant for cancellation to the Company, the Company shall execute and deliver to the Holder, in lieu hereof, a new Warrant of like
                denomination and tenor and exercisable for an equivalent number of Warrant Shares as the Warrant so lost, stolen, mutilated or destroyed.

             

              

          

          
            (b)          Issuance of New Warrants.  Whenever the Company is required to issue a
                new Warrant pursuant to the terms of this Warrant, such new Warrant shall be of like tenor with this Warrant, and shall have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date.

          

          
             

            

          

          
            6.           TRANSFER.

             

          

          
            (a)          Notice of Transfer.  Subject to compliance with
                applicable securities laws and the transfer conditions referred to in the legend endorsed hereon or otherwise set forth herein, this Warrant and all rights hereunder are transferable, in whole or in part, by the Holder, upon surrender of
                this Warrant to the Company at its then principal executive offices with a properly completed and duly executed Assignment of Warrant (in the form attached hereto as Exhibit B) and funds sufficient to pay any transfer taxes payable upon the making of such transfer.  By acceptance of this Warrant, the Holder agrees to give written notice to the Company before transferring this Warrant or
                transferring any Warrant Shares of such Holder’s intention to do so, describing briefly the manner of any proposed transfer. As a condition to such transfer, the prospective transferee or purchaser shall execute an Assignment of Warrant
                attached hereto as Exhibit B and such other documents and make such representations, warranties, and agreements as may be reasonably required by the Company
                solely to comply with the exemptions relied upon by the Company for the transfer or disposition of this Warrant or the Warrant Shares.  Upon such compliance, surrender, delivery and, if required, such payment pursuant to this Section 6(a), the Company shall execute and deliver a new Warrant or Warrants in the name of the transferee or transferees and in the denominations specified in such
                instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant, if any, not so assigned and this Warrant shall promptly be cancelled.  For the avoidance of doubt, any transferee and any
                subsequent transferee shall be subject to the 4.61% Exercise Limitation and the Section 382 Exercise Limitation.

             

              

          

          
            15

            
              

          

          
            (b)          The Holder, by acceptance of this Warrant, agrees to comply in all respects with the restrictive legend
                requirements set forth on the face of this Warrant and further agrees that it shall not offer, sell or otherwise dispose of this Warrant or any Warrant Shares to be issued upon exercise hereof except under circumstances that will not result
                in a violation of the Securities Act of 1933, as amended (the “Securities Act”).  Notwithstanding anything to the contrary, this Warrant may not be transferred or exercised unless (i) the transferor, transferee, exercising Holder or
                its designated recipient of Common Stock issuable on the exercise of such Warrant and the Company, as applicable, have completed and submitted all filings, registrations or other notifications to any governmental entity that may be required
                pursuant to applicable law in connection with such transfer or exercise, (ii) all necessary approvals or waivers, as the case may be, of any governmental entity that may be required pursuant to applicable law in connection with such
                transfer or exercise have been obtained, and (iii) any waiting periods required by applicable law for the consummation of such transfer or exercise have expired or been terminated.

             

          

          
            7.           COVENANTS OF THE COMPANY.

             

          

          
            (a)          Covenants as to Shares. The Company shall procure that all Warrant
                Shares that may be issued upon the exercise of the rights represented by this Warrant are, upon issuance, validly issued and outstanding, fully paid and nonassessable, and free from all taxes, liens and charges with respect to the issuance
                thereof. The Company shall, at all times during the Exercise Period, have authorized and reserved, free from preemptive rights, a sufficient number of shares of Common Stock to provide for the exercise of the rights represented by this
                Warrant (without regard to any limitations on exercise). If at any time during the Exercise Period the number of authorized but unissued shares of Common Stock are not sufficient to permit the full exercise of this Warrant, the Company
                shall take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number as is sufficient for such purposes. During the Exercise Period, the Company
                shall not at any time increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect.

             

              

          

          
            (b)         Notices of Record Date. In the event of (i) any taking by the Company
                of a record of the holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution; (ii) the effectiveness of a registration statement on Form S-1 filed
                with the Securities and Exchange Commission and/or (iii) the consummation of a Fundamental Transaction, then the Company shall provide to the Holder, at least five (5) Business Days prior to the date of any such event, a notice pursuant to
                Section 11, specifying the date on which any such action is expected to be taken or any such event is expected to occur.

          

          
            

            

          

          
            8.           REPRESENTATIONS AND WARRANTIES.

            

            

          

          
            (a)           The Company hereby represents and warrants to the Holders as of the Issuance Date as follows:

             

          

          
            
              
                	

                      	(1)	
                        The Company has all necessary power, capacity and authority to execute and deliver this Warrant, to perform its obligations hereunder, and to consummate the transactions contemplated hereby. This Warrant
                          has been duly and validly executed and delivered by the Company and, assuming the due execution and delivery by the Holder, constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in
                          accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting the enforcement of creditors’ rights generally.

                      

              

            

             

            
              
                	

                      	(2)	
                        All corporate actions on the part of the Company necessary for the issuance of this Warrant have been taken on or prior to the date hereof. The execution and delivery by the Company of this Warrant do
                          not require any filing with or approval from any governmental authority, except for filings with the United States Securities and Exchange Commission or otherwise required under Federal or state securities laws and filings made
                          pursuant to the rules and regulations of any stock exchange.

                      

                 

                

              

            

          

          
            16

            
              

          

          
            
              
                	

                      	(3)	
                        The authorized capital of the Company consists, immediately prior to the Issuance Date, of 5,000,0000 shares of preferred stock, $0.01 par value (none of which are outstanding), and 200,000,000
                            shares of common stock, $0.01 par value (1,819,437 of which are issued and outstanding (excluding, for the avoidance of doubt, treasury stock)).  The number of Warrant Shares for which this Warrant may be exercised is, as of the
                            Issuance Date, equal to five and 16/100 percent (5.16%) of the issued and outstanding Common Stock, which number is
                            subject to adjustment in accordance with the terms hereof.

                      

              

            

             

          

          
            (b)          The Holder hereby represents and warrants to the Company by acceptance of this Warrant as of Issuance Date (or
                such other date on which such Holder becomes a Holder hereunder) as follows:

             

          

          
            
              
                	

                      	(1)	
                        The Holder is an "accredited investor" as defined in Rule 501 of Regulation D promulgated under the Securities Act.  The Holder is acquiring this Warrant and the Warrant Shares to be issued upon exercise
                          hereof for investment for its own account and not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant or the Warrant Shares, except pursuant to sales registered o exempted under
                          the Securities Act.

                      

              

            

            

            

          

          
            
              
                	

                      	(2)	
                        The Holder understands and acknowledges that this Warrant and the Warrant Shares to be issued upon exercise hereof are "restricted securities" under the federal securities laws inasmuch as they are being
                          acquired from the Company in a transaction not involving a public offering and that, under such laws and applicable regulations, such securities may be resold without registration under the Securities Act only in certain limited
                          circumstances.  In addition, the Holder represents that it is familiar with Rule 144 under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act.

                      

              

            

            

            

          

          
            
              
                	

                      	(3)	
                        The Holder acknowledges that it can bear the economic and financial risk of its investment for an indefinite period, and has such knowledge and experience in financial or business matters that it is
                          capable of evaluating the merits and risks of the investment in the Warrant and the Warrant Shares. The Holder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the
                          offering of the Warrant and the business, properties, prospects and financial condition of the Company.

                      

              

            

            

            

          

          
            9.           TERMINATION OF WARRANT. This Warrant shall expire and shall no longer be exercisable upon the earlier
                of (a) the expiration of the Exercise Period and (b) the exercise in full hereof.

             

            10.         RESTRICTIVE LEGEND. The Warrant Shares shall be stamped or otherwise imprinted with a legend in
                substantially the following form:

             

          

          THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE, AND, ACCORDINGLY,
            MAY NOT BE OFFERED OR SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR PURSUANT TO AN AVAILABLE
            EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE
            SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.    IN ADDITION, EXERCISE OF THE WARRANT IS SUBJECT TO LIMITATIONS SPECIFIED IN THE WARRANT.

           

          

          
            17

            
              

          

          
            11.         NOTICES.  Any notice or other communication to be given under this Warrant shall be in writing and may
                either be delivered by hand, made by facsimile transmission, sent by electronic mail transmission, disclosed in all material respects and filed on EDGAR pursuant to the Securities Exchange Act of 1934, sent by overnight courier, or sent by
                registered mail, return receipt requested, postage prepaid, as follows: (a) if to the Holder, at the Holder’s address, facsimile number or electronic mail address set forth on the signature page hereof, or at such other address as the
                Holder shall have furnished to the Company in writing; and (b) if to the Company, at the Company’s address, facsimile number or electronic mail address set forth on the signature page hereof, or at such other address as the Company shall
                have furnished to the Holder in writing.

             

            12.         AMENDMENT AND WAIVER.  The terms of this Warrant may be amended or waived (either generally or in a
                particular instance and either retroactively or prospectively) only with the written consent of the Company and the Holder.

             

            13.         GOVERNING LAW; JURISDICTION.  This Warrant and all actions arising out of or in connection with this
                Warrant shall be governed by and construed in accordance with the laws of the State of New York without regard to principles of conflicts of law (whether of the State of New York or any other jurisdiction). EACH

                  PARTY HERETO HEREBY CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN THE BOROUGH OF MANHATTAN, CITY OF NEW YORK, STATE OF NEW YORK AND IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS ARISING OUT OF OR RELATING
                  TO THIS WARRANT SHALL BE LITIGATED IN SUCH COURTS.  EACH PARTY HERETO EXPRESSLY SUBMITS AND CONSENTS TO THE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS.

             

            14.        JURY TRIAL WAIVER.  THE COMPANY AND THE HOLDER HEREBY WAIVE A TRIAL
                BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS WARRANT.

             

            15.         ACCEPTANCE.  Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all
                of the terms and conditions contained herein.

             

            16.         RIGHTS AND OBLIGATIONS SURVIVE EXERCISE OF WARRANT.  Unless otherwise provided in this Warrant, the
                rights and obligations of the Company, of the Holder and of the holder of the Warrant Shares issued upon exercise of this Warrant hereunder shall survive the exercise of this Warrant.

             

            17.         SUCCESSORS AND ASSIGNS.  The terms and provisions of this Warrant shall inure to the benefit of, and be
                binding upon, the Company, the Holder and their respective permitted successors and assigns.

             

            18.         TITLES AND SUBTITLES.  The titles and subtitles used in this Warrant are used for convenience only and
                are not to be considered in construing or interpreting this Warrant.

             

            19.         SEVERABILITY.  In the event any one or more of the provisions of this Warrant shall for any reason be
                held invalid, illegal or unenforceable, the remaining provisions of this Warrant shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid, legal and enforceable provision,
                which comes closest to the intention of the parties underlying the invalid, illegal or unenforceable provision.

             

              

          

          
            20.          CERTAIN DEFINITIONS.  For purposes of this Warrant, the following terms shall have the following
                meanings:

             

          

          
            (a)           “Business Day” means all days other than Saturdays, Sundays and any other days on which commercial
                banks in New York City are authorized or required by law to be closed for business.

             

            (b)           “Common Stock” means the Company’s common stock, par value $0.01 per share, and any other class of
                securities into which such securities may hereafter be reclassified or changed.

             

              

          

          
            18

            
              

          

          
            (c)           “Required Consents” means the material filings, registrations, notifications, approvals, waivers or
                expiration or termination of any waiting periods that are necessary or required, as set forth in Section 6(b).

          

          
            

            

          

          
            21.         WARRANT REGISTER.  The Company shall keep and properly maintain at its principal executive offices books
                for the registration of the Warrant and any transfers thereof.  The Company may deem and treat the Person in whose name the Warrant is registered on such register as the Holder thereof for all purposes, and the Company shall not be affected
                by any notice to the contrary, except any assignment, division, combination or other transfer of the Warrant effected in accordance with the provisions of this Warrant.

             

          

          
            [Signature page follows]

             

            

          

          
            19

            
              

          

          IN WITNESS WHEREOF, the Company has caused this Common Stock Purchase Warrant to be duly executed as of the Issuance Date set forth above.

          

          

          	

                	
                  TRANS WORLD ENTERTAINMENT CORPORATION

                
	

                	

                
	

                	
                  By: /s/ Edwin Sapienza

                
	

                	
                  Name: Edwin Sapienza

                
	

                	
                  Title: Chief Financial Officer

                
	

                	

                
	

                	
                  Address: 38 Corporate Circle

                
	

                	

                
	

                	
                  Albany, NY 12203

                
	

                	

                
	

                	
                  Email: esapienza@twec.com

                
	

                	

                
	

                	
                  Agreed & Accepted:

                
	

                	

                
	

                	
                  RJHDC, LLC

                
	

                	

                
	

                	
                  By: /s/ Anne Higgins

                    

                
	

                	
                  Name: Anne Higgins

                  

                
	

                	
                  Title: Sole Member/Manager

                  

                
	

                	

                
	

                	
                  Address: c/o Independent Family Office, LLC  

                
	

                	
                  677 Broadway, 7th Floor 

                  

                
	

                	
                  Albany, NY 12207

                
	 	 
	

                	
                  Facsimile: (518) 452-8053

                
	 	 
	

                	
                  
                    Email: jboll@bsk.com 

                  

                

          

          

          
            [Signature Page to Warrant]

          

          
            20

            
              

          

          
            EXHIBIT A

             

            

            EXERCISE NOTICE

             

            

            (To be executed by the registered holder to exercise this Common Stock Purchase Warrant)

             

            

          

          
            The Undersigned holder hereby exercises the right to purchase _________________ of the shares of Common Stock (“Warrant
              Shares”) of Trans World Entertainment Corporation, a Delaware corporation (the “Company”), evidenced by the attached copy of the Warrant (as defined below). Capitalized terms used herein and not otherwise defined shall have the respective
              meanings set forth in the Common Stock Purchase Warrant (the “Warrant”), dated as of March 30, 2020, issued by the Company.

             

            

          

          
            
              	1.	
                      Form of Exercise Price.  The Holder intends that payment of the Exercise Price shall be made as (check one):

                    

            

          

          
             

            

          

          
            
              	

                    	☐	
                      a cash exercise with respect to _________________ Warrant Shares; or

                    

            

          

          
            
              	

                    	☐	
                      by cashless exercise pursuant to Section 1(b) of the Warrant for _________ Warrant Shares.

                    

            

          

          
             

            

          

          
            
              	2.	
                      Payment of Exercise Price.  If a cash exercise is selected above, the Aggregate Exercise Price in the sum of $___________________ has been wire transferred to the Company in accordance with the terms of the Warrant.

                    

            

          

          
             

            

          

          
            
              	3.	
                      Confirmation.  The undersigned hereby represents and warrants that the Required Consents have been made or obtained, as applicable.

                    

            

          

          

          

          
            
              	4.	
                      Delivery of Warrant Shares.  The Company shall deliver to the holder __________________ Warrant Shares in accordance with the terms of the Warrant.

                    

            

          

          

          

          	
                  Date:

                	

                	

                
	

                

          	
                  (Print Name of Registered Holder)

                

          

          

          	
                  By:

                	

                	

                

          	
                  Name:

                	

                	

                

          	
                  Title:

                	

                	

                

          
             

            

             
              Exhibit A

               

              

            

          

          
            21

            
              

          

          
            EXHIBIT B

             

            

            ASSIGNMENT OF WARRANT

             

            

            (To be signed only upon authorized transfer of the Warrant)

             

            

          

          
            For Value Received, the foregoing Common Stock Purchase Warrant and all rights evidenced thereby are hereby assigned to                                 

              . By accepting such transfer, the transferee acknowledges that it has reviewed the within Common Stock Purchase Warrant and has agreed to be bound in all respects by its terms and conditions; and such transferee represents and warrants
              that it is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended.

             

            

          

          	
                  Holder

                
	

                
	
                  Date:

                	

                	

                

          
             

            

          

          	

                	

                
	
                  (Signature) *

                	

                
	

                	

                
	

                	

                
	
                  (Name)

                	

                
	

                	

                
	

                	

                
	
                  (Address)

                	

                
	

                	

                
	

                	

                
	
                  (Social Security or Tax Identification No.)

                	

                

          
            

            

            * The signature on this Assignment of Warrant must correspond to the name as written upon the face of the Common Stock Purchase Warrant in every particular without alteration or enlargement or
              any change whatsoever. When signing on behalf of a corporation, partnership, trust or other entity, please indicate your position(s) and title(s) with such entity.

          

          
             

            

          

          	
                  Transferee

                	1

                

          	

                
	
                  Date:

                	

                	

                

          

          

          	

                	

                
	
                  (Signature)

                	

                
	

                	

                
	

                	

                
	
                  (Name)

                	

                
	

                	

                
	

                	

                
	
                  (Address)

                	

                

           

          

          
            Exhibit B

            
              22

              
                

            

            
              Execution Version

              
                

                

                NEITHER THIS WARRANT NOR THE SECURITIES AS TO WHICH THIS WARRANT MAY BE EXERCISED HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE,
                  AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR
                  PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE
                  TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.   IN ADDITION, EXERCISE OF THIS WARRANT IS SUBJECT TO LIMITATIONS SPECIFIED IN THIS WARRANT.

                 

                

              

              
                COMMON STOCK PURCHASE WARRANT

                TRANS WORLD ENTERTAINMENT CORPORATION

                 

                 

                

                Warrant Shares: 14,041

              

              
                Date of Issuance: March 30, 2020 (the “Issuance Date”)

              

              
                 

                

                THIS COMMON STOCK PURCHASE WARRANT (this “Warrant”) certifies that, for
                    value received (in connection with Kick-Start III, LLC providing a $300,000 loan to Etailz, Inc. (“Etailz”), a subsidiary of Trans World Entertainment
                    Corporation (the “Company”)), Kick-Start III, LLC (including its permitted and
                    registered assigns, the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any
                    time on or after the date of issuance hereof, to purchase from the Company up to 14,041 shares of Common Stock (as defined below) (the “Warrant Shares”) at the Exercise Price per share. The number of Warrant Shares for which this Warrant may be exercised is subject to adjustment in accordance with the terms hereof.

                

                

                Capitalized terms used in this Warrant shall have the meanings set forth in the body of this Warrant or in Section 20 below. For purposes of this Warrant, the term
                  “Exercise Price” shall mean $0.01 per Warrant Share, and the term “Exercise Period” shall mean the period commencing on the Issuance Date and ending on the earlier of (a) 5:00 p.m. Eastern Standard Time on the five (5)-year
                  anniversary thereof, or if such day is not a Business Day on the next succeeding Business Day, or (b) the occurrence of a Fundamental Transaction.

                

                

              

              
                1.           EXERCISE OF WARRANT.

                 

                  

              

              
                (a)          Mechanics of Exercise. Subject to the terms and conditions hereof,
                    the rights represented by this Warrant may be exercised in whole or in part at any time or times during the Exercise Period by delivery of a written notice on any Business Day, in the form attached hereto as Exhibit A (the “Exercise

                      Notice”), of the Holder’s election to exercise this Warrant. The Holder shall not be required to deliver the original Warrant in order to effect an exercise hereunder. Partial exercises of this Warrant resulting in purchases of a
                    portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. 
                    On or before the fifth (5th) Business Day (the “Warrant Share Delivery Date”) following the date on which the Company receives the Exercise Notice (which must be received by the Company prior to 5 p.m. Eastern Standard Time to
                    count as received on such date) and payment of an amount equal to the applicable Exercise Price multiplied by the number of Warrant Shares as to which all or a portion of this Warrant is being exercised (the “Aggregate Exercise Price”,

                    and together with the Exercise Notice, the “Exercise Deliveries”) in cash or by wire transfer of immediately available funds (or by cashless exercise, in which case there shall be no Aggregate Exercise Price provided), the
                    Company may (or may direct its transfer agent to) deliver, to the address specified in the Exercise Notice, a notice indicating the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise, or otherwise
                    provide confirmation of such entitlement. Upon delivery of the Exercise Deliveries, but subject to Section 1(c), the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares
                    with respect to which this Warrant has been exercised, irrespective of the date of delivery of the notice in respect of such Warrant Shares. If this Warrant is submitted in connection with any exercise and the number of Warrant Shares
                    represented by this Warrant is greater than the number of Warrant Shares being acquired upon an exercise, then the Company shall as soon as practicable and in no event later than five (5) Business Days after any exercise and at its own
                    expense, issue a new Warrant (in accordance with Section 5) representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares
                    with respect to which this Warrant is exercised.

                 

                  

              

              
                23

                
                  

              

              
                (b)          Cashless Exercise. In the event of a Fundamental Transaction, the
                    Holder shall, and at any time during the Exercise Period the Holder may at its option, elect to receive, pursuant to a cashless exercise in lieu of a cash exercise, Warrant Shares equal to the value of this Warrant determined in the
                    manner described below (or of any portion thereof being exercised) by surrender of this Warrant and an Exercise Notice, in which event the Company shall issue to Holder a number of Warrant Shares computed using the following formula:

                 

              

              Y(A – B)

              X          =                   A

              Where:

              

              

              X          =              the number of Warrant Shares to be issued to the Holder;

              Y          =              the total number of Warrant Shares for which the Holder has elected to exercise this Warrant pursuant to Section 1(a);

              A          =              the fair market value of one Warrant Share at the time of exercise of this Warrant as herein provided; and

              B          =               the Exercise Price.

              
                 

                

                (c)          Fair Market Value. For purposes of this Section 1, the fair market value of a Warrant Share means, as of any particular date:
                  (a) the volume weighted average of the closing sales prices of the Common Stock for such day on all domestic securities exchanges on which the Common Stock may at the time be listed; (b) if there have been no sales of the Common Stock on
                  any such exchange on any such day, the average of the highest bid and lowest asked prices for the Common Stock on all such exchanges at the end of such day; (c) if on any such day the Common Stock is not listed on a domestic securities
                  exchange, the closing sales price of the Common Stock as quoted on the Financial Industry Regulatory Authority OTC Bulletin Board electronic interdealer quotation system (the “OTC Bulletin
                    Board”), the OTC Markets Group Inc. electronic inter-dealer quotation system (including OTCQX, OTCQB and OTC Pink) (the “Pink OTC Markets”) or similar quotation system or association
                  for such day; or (d) if there have been no sales of the Common Stock on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association on such day, the average of the highest bid and lowest asked prices for the
                  Common Stock quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association at the end of such day; in each case, averaged over twenty (20) consecutive Business Days ending on the Business Day
                  immediately prior to the day as of which "fair market value" is being determined; provided that if the Common Stock is listed on any domestic securities exchange, the term "Business Day" as used in this sentence means Business
                  Days on which such exchange is open for trading.  If at any time the Common Stock is not listed on any domestic securities exchange or quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association, the
                  "fair market value" of a Warrant Share shall be the fair market value per share as determined jointly by the board of directors of the Company and the Holder; provided, that if the board
                  of directors of the Company and the Holder are unable to agree on the fair market value of a Warrant Share within a reasonable period of time (not to exceed thirty (30) days from the Company's receipt of the Exercise Notice), such fair
                  market value shall be determined by a nationally recognized investment banking, accounting or valuation firm jointly selected by the board of directors of the Company and the Holder. The determination of such firm shall be final and
                  conclusive, and the fees and expenses of such valuation firm shall be borne pro rata by the Company and the Holder based on the amount by which each party’s calculation of fair market value is different from the fair market value as
                  determined by such valuation firm.  Notwithstanding anything to the contrary herein, this Warrant may not be exercised, and no Warrant Shares shall be issued in respect of hereof, until the fair market value of
                  the Warrant Shares has been finally determined in accordance with this Section 1(c).

                 

              

              
                (d)         Holder’s Exercise Limitations. The Holder shall not have the right to exercise any portion of this Warrant, and the Company shall not
                  effect any exercise of this Warrant, to the extent that (i) after giving effect to the issuance of Warrant Shares as set forth in the applicable Exercise Notice, the Warrant Shares so issued, together with any and all Warrant Shares
                  previously issued pursuant to a partial exercise of this Warrant, would exceed zero and 69/100 percent (0.69%) of the issued and outstanding Common Stock (such amount, the “0.69% Exercise Limitation”) or (ii) any such exercise
                  would result in an “ownership change” with respect to the Company within the meaning of Section 382 of the Internal Revenue Code of 1986, as amended (the “Section 382 Exercise Limitation”). The determination of whether the 0.69%
                  Exercise Limitation applies, and the extent to which it applies, shall be in the sole discretion of the Holder, and the submission of an Exercise Notice shall be deemed to be the Holder’s determination of the extent to which this Warrant
                  is exercisable.  Notwithstanding anything to the contrary herein, the Company shall have no obligation to determine whether the 0.69% Exercise Limitation has been exceeded at any particular time and, unless otherwise notified in writing
                  by the Holder prior to the applicable date of determination, the Company shall be permitted to assume that the 0.69% Exercise Limitation has not been exceeded.  The determination of whether the Section 382 Exercise Limitation applies, and
                  the extent to which it applies, shall be made by the Company in its sole discretion.  Upon the written request of the Holder, the Company shall, within two (2) Business Days, confirm to the Holder the number of shares of Common Stock then
                  outstanding.

                 

                

              

              
                24

                
                  

              

              
                (e)         Anti-Dilution. If, at any time after the date hereof while this Warrant is outstanding, the Company sells or issues, any shares of
                  Common Stock for less than the fair market value of the Common Stock on the date of such sale or issuance (as determined in good faith by the board of directors of the Company), such that the Warrant Shares (taking into account any such
                  Warrant Shares issuable or previously issued) represent less than the 0.69% Exercise Limitation (taking into account such sale or issuance, as applicable, and based on the number of shares of Common Stock actually outstanding), then the
                  number of Warrant Shares purchasable under this Warrant shall (at the time of exercise of this Warrant) be adjusted upwards, subject to the Section 382 Exercise Limitation, to an amount equal to the 0.69% Exercise Limitation, computed at
                  the time of such issuance; provided, however, that such adjustment shall be rounded down to the nearest whole share of Common Stock; provided further that anything herein to the contrary notwithstanding,
                  there shall be no adjustment to the number of Warrant Shares issuable upon exercise of this Warrant with respect to any Excluded Issuance.  For purposes of this Section 1(e), the following terms have the following meanings:

              

              
                

                

              

              
                “Convertible Securities” means any securities (directly or indirectly) convertible into or exchangeable for Common Stock, but excluding Options.

                 

                “Excluded Issuances” means any issuance or sale (or deemed issuance or sale) by the Company after the date hereof of: (a) shares of Common Stock issued upon the
                  exercise of this Warrant; (b) shares of Common Stock issued directly or upon the exercise of Options to directors, officers, employees, or consultants of the Company in connection with their service as directors of the Company, their
                  employment by the Company or their retention as consultants by the Company, in each case authorized by the board of directors of the Company and issued pursuant to any of the Company’s equity incentive plans from time to time (including
                  all such shares of Common Stock and Options outstanding prior to the date hereof); (c) shares of Common Stock issued upon the conversion or exercise of Options (other than Options covered by clause (b) above) issued prior to the date
                  hereof, provided that such securities are not amended after the date hereof to increase the number of shares of Common Stock issuable thereunder or to lower the exercise or conversion price
                  thereof; (d) shares of Common Stock, Options or Convertible Securities issued (i) to persons in connection with a joint venture, strategic alliance or other commercial relationship with such person (including persons that are customers,
                  suppliers and strategic partners of the Company) relating to the operation of the Company's business and not for the primary purpose of raising equity capital, (ii) in connection with a transaction in which the Company, directly or
                  indirectly, acquires another business or its tangible or intangible assets, or (iii) to lenders as equity kickers in connection with debt financings of the Company, in each case where such transactions have been approved by the board of
                  directors of the Company; (e) shares of Common Stock in an offering for cash for the account of the Company that is underwritten on a firm commitment basis and is registered with the Securities and Exchange Commission under the Securities
                  Act of 1933, as amended; or (f) shares of Common Stock, Options or Convertible Securities issued to the lessor or vendor in any office lease or equipment lease or similar equipment financing transaction in which the Company obtains the
                  use of such office space or equipment for its business.

                 

                “Options” means any warrants or other rights or options to subscribe for or purchase Common Stock or Convertible Securities.

                 

                

              

              
                25

                
                  

              

              
                2.           FUNDAMENTAL TRANSACTIONS.  If, at any time while this Warrant is outstanding, (a) the Company
                    effects any merger of the Company with or into another entity and the Company is not the surviving entity (such surviving entity, the “Successor Entity”), (b) the Company effects any sale of all or substantially all of its assets
                    in one or a series of related transactions, (c) any tender offer or exchange offer (whether by the Company or by another individual or entity, and approved by the Company) is completed pursuant to which holders of Common Stock are
                    permitted to tender or exchange their shares of Common Stock for other securities, cash or property and the holders of at least 50% of the Common Stock accept such offer, or (d) the Company effects any reclassification of the Common
                    Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (other than as a result of a subdivision or combination of shares of Common
                    Stock) (in any such case, a “Fundamental Transaction”), then immediately prior to the occurrence of such Fundamental Transaction, this Warrant shall automatically be converted into the right to receive the number of shares of
                    Common Stock of the Company for which this Warrant is exercisable at such time (assuming a cashless exercise and, for the avoidance of doubt, taking into account the Section 382 Exercise Limitation).

                 

                3.          FRACTIONAL SHARES. The Company shall not be required to issue fractions of shares upon exercise of
                    this Warrant or to distribute certificates which evidence fractional shares. In lieu of fractional shares, the Company may make payment to the Holder, at the time of exercise of this Warrant as herein provided, in an amount in cash
                    equal to such fraction multiplied by the fair market value (as determined in accordance with Section 1(c)) of one Warrant Share at the time of exercise of this Warrant as herein provided.

                 

                4.          WARRANT HOLDER NOT DEEMED A STOCKHOLDER.  Except as otherwise specifically provided herein, this
                    Warrant, in and of itself, shall not entitle the Holder to any voting rights or other rights as a stockholder of the Company. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to
                    purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

                 

              

              
                5.           REISSUANCE.

                 

              

              
                (a)         Lost, Stolen or Mutilated Warrant. 
                    Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and upon delivery of an indemnity reasonably satisfactory to it (it being understood that a written
                    indemnification agreement or affidavit of loss of the Holder shall be a sufficient indemnity) and, in case of mutilation, upon surrender of such Warrant for cancellation to the Company, the Company shall execute and deliver to the
                    Holder, in lieu hereof, a new Warrant of like denomination and tenor and exercisable for an equivalent number of Warrant Shares as the Warrant so lost, stolen, mutilated or destroyed.

                 

                  

              

              
                (b)          Issuance of New Warrants.  Whenever the Company is required to
                    issue a new Warrant pursuant to the terms of this Warrant, such new Warrant shall be of like tenor with this Warrant, and shall have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date.

              

              
                 

                

              

              
                6.           TRANSFER.

                 

              

              
                (a)          Notice of Transfer.  Subject to compliance with
                    applicable securities laws and the transfer conditions referred to in the legend endorsed hereon or otherwise set forth herein, this Warrant and all rights hereunder are transferable, in whole or in part, by the Holder, upon surrender
                    of this Warrant to the Company at its then principal executive offices with a properly completed and duly executed Assignment of Warrant (in the form attached hereto as Exhibit B) and funds sufficient to pay any transfer taxes payable upon the making of such transfer.  By acceptance of this Warrant, the Holder agrees to give written notice to the Company before transferring this Warrant
                    or transferring any Warrant Shares of such Holder’s intention to do so, describing briefly the manner of any proposed transfer. As a condition to such transfer, the prospective transferee or purchaser shall execute an Assignment of
                    Warrant attached hereto as Exhibit B and such other documents and make such representations, warranties, and agreements as may be reasonably required by
                    the Company solely to comply with the exemptions relied upon by the Company for the transfer or disposition of this Warrant or the Warrant Shares.  Upon such compliance, surrender, delivery and, if required, such payment pursuant to
                    this Section 6(a), the Company shall execute and deliver a new Warrant or Warrants in the name of the transferee or transferees and in the denominations
                    specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant, if any, not so assigned and this Warrant shall promptly be cancelled.  For the avoidance of doubt, any
                    transferee and any subsequent transferee shall be subject to the 0.69% Exercise Limitation and the Section 382 Exercise Limitation.

                 

                  

              

              
                26

                
                  

              

              
                (b)          The Holder, by acceptance of this Warrant, agrees to comply in all respects with the restrictive legend
                    requirements set forth on the face of this Warrant and further agrees that it shall not offer, sell or otherwise dispose of this Warrant or any Warrant Shares to be issued upon exercise hereof except under circumstances that will not
                    result in a violation of the Securities Act of 1933, as amended (the “Securities Act”).  Notwithstanding anything to the contrary, this Warrant may not be transferred or exercised unless (i) the transferor, transferee, exercising
                    Holder or its designated recipient of Common Stock issuable on the exercise of such Warrant and the Company, as applicable, have completed and submitted all filings, registrations or other notifications to any governmental entity that
                    may be required pursuant to applicable law in connection with such transfer or exercise, (ii) all necessary approvals or waivers, as the case may be, of any governmental entity that may be required pursuant to applicable law in
                    connection with such transfer or exercise have been obtained, and (iii) any waiting periods required by applicable law for the consummation of such transfer or exercise have expired or been terminated.

                 

              

              
                7.           COVENANTS OF THE COMPANY.

                 

              

              
                (a)          Covenants as to Shares. The Company shall procure that all Warrant
                    Shares that may be issued upon the exercise of the rights represented by this Warrant are, upon issuance, validly issued and outstanding, fully paid and nonassessable, and free from all taxes, liens and charges with respect to the
                    issuance thereof. The Company shall, at all times during the Exercise Period, have authorized and reserved, free from preemptive rights, a sufficient number of shares of Common Stock to provide for the exercise of the rights represented
                    by this Warrant (without regard to any limitations on exercise). If at any time during the Exercise Period the number of authorized but unissued shares of Common Stock are not sufficient to permit the full exercise of this Warrant, the
                    Company shall take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number as is sufficient for such purposes. During the Exercise Period,
                    the Company shall not at any time increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect.

                 

                  

              

              
                (b)         Notices of Record Date. In the event of (i) any taking by the
                    Company of a record of the holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution; (ii) the effectiveness of a registration statement on Form
                    S-1 filed with the Securities and Exchange Commission and/or (iii) the consummation of a Fundamental Transaction, then the Company shall provide to the Holder, at least five (5) Business Days prior to the date of any such event, a
                    notice pursuant to Section 11, specifying the date on which any such action is expected to be taken or any such event is expected to occur.

              

              
                

                

              

              
                8.           REPRESENTATIONS AND WARRANTIES.

                

                

              

              
                (a)           The Company hereby represents and warrants to the Holders as of the Issuance Date as follows:

                 

              

              
                
                  
                    	

                          	(1)	
                            The Company has all necessary power, capacity and authority to execute and deliver this Warrant, to perform its obligations hereunder, and to consummate the transactions contemplated hereby. This
                              Warrant has been duly and validly executed and delivered by the Company and, assuming the due execution and delivery by the Holder, constitutes the legal, valid and binding obligation of the Company, enforceable against the
                              Company in accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting the enforcement of creditors’ rights
                              generally.

                          

                  

                

                 

                
                  
                    	

                          	(2)	
                            All corporate actions on the part of the Company necessary for the issuance of this Warrant have been taken on or prior to the date hereof. The execution and delivery by the Company of this Warrant
                              do not require any filing with or approval from any governmental authority, except for filings with the United States Securities and Exchange Commission or otherwise required under Federal or state securities laws and filings
                              made pursuant to the rules and regulations of any stock exchange.

                          

                     

                    

                  

                

              

              
                27

                
                  

              

              
                
                  
                    	

                          	(3)	
                            The authorized capital of the Company consists, immediately prior to the Issuance Date, of 5,000,0000 shares of preferred stock, $0.01 par value (none of which are outstanding), and 200,000,000
                                shares of common stock, $0.01 par value (1,819,437 of which are issued and outstanding (excluding, for the avoidance of doubt, treasury stock)).  The number of Warrant Shares for which this Warrant may be exercised is, as of
                                the Issuance Date, equal to zero and 77/100 percent (0.77%) of the issued and outstanding Common Stock, which
                                number is subject to adjustment in accordance with the terms hereof.

                          

                  

                

                 

              

              
                (b)          The Holder hereby represents and warrants to the Company by acceptance of this Warrant as of Issuance Date
                    (or such other date on which such Holder becomes a Holder hereunder) as follows:

                 

              

              
                
                  
                    	

                          	(1)	
                            The Holder is an "accredited investor" as defined in Rule 501 of Regulation D promulgated under the Securities Act.  The Holder is acquiring this Warrant and the Warrant Shares to be issued upon
                              exercise hereof for investment for its own account and not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant or the Warrant Shares, except pursuant to sales registered o
                              exempted under the Securities Act.

                          

                  

                

                

                

              

              
                
                  
                    	

                          	(2)	
                            The Holder understands and acknowledges that this Warrant and the Warrant Shares to be issued upon exercise hereof are "restricted securities" under the federal securities laws inasmuch as they are
                              being acquired from the Company in a transaction not involving a public offering and that, under such laws and applicable regulations, such securities may be resold without registration under the Securities Act only in certain
                              limited circumstances.  In addition, the Holder represents that it is familiar with Rule 144 under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act.

                          

                  

                

                

                

              

              
                
                  
                    	

                          	(3)	
                            The Holder acknowledges that it can bear the economic and financial risk of its investment for an indefinite period, and has such knowledge and experience in financial or business matters that it is
                              capable of evaluating the merits and risks of the investment in the Warrant and the Warrant Shares. The Holder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of
                              the offering of the Warrant and the business, properties, prospects and financial condition of the Company.

                          

                  

                

                

                

              

              
                9.           TERMINATION OF WARRANT. This Warrant shall expire and shall no longer be exercisable upon the
                    earlier of (a) the expiration of the Exercise Period and (b) the exercise in full hereof.

                 

                10.         RESTRICTIVE LEGEND. The Warrant Shares shall be stamped or otherwise imprinted with a legend in
                    substantially the following form:

                 

              

              THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE, AND,
                ACCORDINGLY, MAY NOT BE OFFERED OR SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR PURSUANT TO AN
                AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH
                EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.    IN ADDITION, EXERCISE OF THE WARRANT IS SUBJECT TO LIMITATIONS SPECIFIED IN THE WARRANT.

               

              

              
                28

                
                  

              

              
                11.         NOTICES.  Any notice or other communication to be given under this
                    Warrant shall be in writing and may either be delivered by hand, made by facsimile transmission, sent by electronic mail transmission, disclosed in all material respects and filed on EDGAR pursuant to the Securities Exchange Act of
                    1934, sent by overnight courier, or sent by registered mail, return receipt requested, postage prepaid, as follows: (a) if to the Holder, at the Holder’s address, facsimile number or electronic mail address set forth on the signature
                    page hereof, or at such other address as the Holder shall have furnished to the Company in writing; and (b) if to the Company, at the Company’s address, facsimile number or electronic mail address set forth on the signature page hereof,
                    or at such other address as the Company shall have furnished to the Holder in writing.

                 

                12.         AMENDMENT AND WAIVER.  The terms of this Warrant may be amended or waived (either generally or in a
                    particular instance and either retroactively or prospectively) only with the written consent of the Company and the Holder.

                 

                13.         GOVERNING LAW; JURISDICTION.  This Warrant and all actions arising out of or in connection with this
                    Warrant shall be governed by and construed in accordance with the laws of the State of New York without regard to principles of conflicts of law (whether of the State of New York or any other jurisdiction). EACH PARTY HERETO HEREBY CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN THE BOROUGH OF MANHATTAN, CITY OF NEW YORK, STATE OF NEW YORK AND IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS ARISING OUT
                      OF OR RELATING TO THIS WARRANT SHALL BE LITIGATED IN SUCH COURTS.  EACH PARTY HERETO EXPRESSLY SUBMITS AND CONSENTS TO THE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS.

                 

                14.        JURY TRIAL WAIVER.  THE COMPANY AND THE HOLDER HEREBY WAIVE A
                    TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS WARRANT.

                 

                15.         ACCEPTANCE.  Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to
                    all of the terms and conditions contained herein.

                 

                16.         RIGHTS AND OBLIGATIONS SURVIVE EXERCISE OF WARRANT.  Unless otherwise provided in this Warrant, the
                    rights and obligations of the Company, of the Holder and of the holder of the Warrant Shares issued upon exercise of this Warrant hereunder shall survive the exercise of this Warrant.

                 

                17.         SUCCESSORS AND ASSIGNS.  The terms and provisions of this Warrant shall inure to the benefit of, and
                    be binding upon, the Company, the Holder and their respective permitted successors and assigns.

                 

                18.         TITLES AND SUBTITLES.  The titles and subtitles used in this Warrant are used for convenience only
                    and are not to be considered in construing or interpreting this Warrant.

                 

                19.         SEVERABILITY.  In the event any one or more of the provisions of this Warrant shall for any reason
                    be held invalid, illegal or unenforceable, the remaining provisions of this Warrant shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid, legal and enforceable
                    provision, which comes closest to the intention of the parties underlying the invalid, illegal or unenforceable provision.

                 

                  

              

              
                20.          CERTAIN DEFINITIONS.  For purposes of this Warrant, the following terms
                    shall have the following meanings:

                 

              

              
                (a)           “Business Day” means all days other than Saturdays, Sundays and any other days on which commercial
                    banks in New York City are authorized or required by law to be closed for business.

                 

                (b)           “Common Stock” means the Company’s common stock, par value $0.01 per share, and any other class of
                    securities into which such securities may hereafter be reclassified or changed.

                 

                  

              

              
                29

                
                  

              

              
                (c)           “Required Consents” means the material filings, registrations, notifications, approvals, waivers
                    or expiration or termination of any waiting periods that are necessary or required, as set forth in Section 6(b).

              

              
                

                

              

              
                21.         WARRANT REGISTER.  The Company shall keep and properly maintain at its principal executive offices
                    books for the registration of the Warrant and any transfers thereof.  The Company may deem and treat the Person in whose name the Warrant is registered on such register as the Holder thereof for all purposes, and the Company shall not
                    be affected by any notice to the contrary, except any assignment, division, combination or other transfer of the Warrant effected in accordance with the provisions of this Warrant.

                 

              

              
                [Signature page follows]

                
                  30

                  
                    

                

                
                  IN WITNESS WHEREOF, the Company has caused this Common Stock Purchase Warrant to be duly executed as of the Issuance Date set forth above.

                  

                  

                  	

                        	
                          TRANS WORLD ENTERTAINMENT CORPORATION

                        
	

                        	

                        
	

                        	
                          By: /s/ Edwin Sapienza

                        
	

                        	
                          Name: Edwin Sapienza

                        
	

                        	
                          Title: Chief Financial Officer

                        
	

                        	

                        
	

                        	
                          Address: 38 Corporate Circle

                        
	

                        	

                        
	

                        	
                          Albany, NY 12203

                        
	

                        	

                        
	

                        	
                          Email: esapienza@twec.com

                        
	

                        	

                        
	

                        	
                          Agreed & Accepted:

                        
	

                        	

                        
	

                        	
                          Kick-Start III, LLC

                          

                        
	

                        	

                        
	

                        	
                          By: /s/ Thomas C. Simpson

                            

                        
	

                        	
                          Name: Thomas C. Simpson

                          

                        
	

                        	
                          Title: Managing Member

                          

                        
	

                        	

                        
	

                        	
                          
                            Address: Kick-Start III, LLC 

                          

                        
	

                        	
                          1925 S. Stevens 

                          

                        
	

                        	
                          
                            Spokane, WA 99203 

                          

                        
	

                        	

                        
	 	Email: tom@nwva.com

                        

                  

                  

                  
                    [Signature Page to Warrant]

                  

                  
                    31

                    
                      

                  

                  
                    EXHIBIT A

                     

                    

                    EXERCISE NOTICE

                     

                    

                    (To be executed by the registered holder to exercise this Common Stock Purchase Warrant)

                     

                    

                  

                  
                    The Undersigned holder hereby exercises the right to purchase _________________ of the shares of Common Stock (“Warrant
                      Shares”) of Trans World Entertainment Corporation, a Delaware corporation (the “Company”), evidenced by the attached copy of the Warrant (as defined below). Capitalized terms used herein and not otherwise defined shall have the
                      respective meanings set forth in the Common Stock Purchase Warrant (the “Warrant”), dated as of March 30, 2020, issued by the Company.

                     

                    

                  

                  
                    
                      	1.	
                              Form of Exercise Price.  The Holder intends that payment of the Exercise Price shall be made as (check one):

                            

                    

                  

                  
                     

                    

                  

                  
                    
                      	

                            	☐	
                              a cash exercise with respect to _________________ Warrant Shares; or

                            

                    

                  

                  
                    
                      	

                            	☐	
                              by cashless exercise pursuant to Section 1(b) of the Warrant for _________ Warrant Shares.

                            

                    

                  

                  
                     

                    

                  

                  
                    
                      	2.	
                              Payment of Exercise Price.  If a cash exercise is selected above, the Aggregate Exercise Price in the sum of $___________________ has been wire transferred to the Company in accordance with the terms of the
                                Warrant.

                            

                    

                  

                  
                     

                    

                  

                  
                    
                      	3.	
                              Confirmation.  The undersigned hereby represents and warrants that the Required Consents have been made or obtained, as applicable.

                            

                    

                  

                  

                  

                  
                    
                      	4.	
                              Delivery of Warrant Shares.  The Company shall deliver to the holder __________________ Warrant Shares in accordance with the terms of the Warrant.

                            

                    

                  

                  

                  

                  	
                          Date:

                        	

                        	

                        
	

                        

                  	
                          (Print Name of Registered Holder)

                        

                  

                  

                  	
                          By:

                        	

                        	

                        

                  	
                          Name:

                        	

                        	

                        

                  	
                          Title:

                        	

                        	

                        

                  
                     

                    

                     
                      Exhibit A

                       

                      

                    

                  

                  
                    32

                    
                      

                  

                  
                    EXHIBIT B

                     

                    

                    ASSIGNMENT OF WARRANT

                     

                    

                    (To be signed only upon authorized transfer of the Warrant)

                     

                    

                  

                  
                    For Value Received, the foregoing Common Stock Purchase Warrant and all rights evidenced thereby are hereby assigned to                                 

                      . By accepting such transfer, the transferee acknowledges that it has reviewed the within Common Stock Purchase Warrant and has agreed to be bound in all respects by its terms and conditions; and such transferee represents and
                      warrants that it is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended.

                     

                    

                  

                  	
                          Holder

                        
	

                        
	
                          Date:

                        	

                        	

                        

                  
                     

                    

                  

                  	

                        	

                        
	
                          (Signature) *

                        	

                        
	

                        	

                        
	

                        	

                        
	
                          (Name)

                        	

                        
	

                        	

                        
	

                        	

                        
	
                          (Address)

                        	

                        
	

                        	

                        
	

                        	

                        
	
                          (Social Security or Tax Identification No.)

                        	

                        

                  
                    

                    

                    * The signature on this Assignment of Warrant must correspond to the name as written upon the face of the Common Stock Purchase Warrant in every particular without alteration or
                      enlargement or any change whatsoever. When signing on behalf of a corporation, partnership, trust or other entity, please indicate your position(s) and title(s) with such entity.

                  

                  
                     

                    

                  

                  	
                          Transferee

                        	1

                        

                  	

                        
	
                          Date:

                        	

                        	

                        

                  

                  

                  	

                        	

                        
	
                          (Signature)

                        	

                        
	

                        	

                        
	

                        	

                        
	
                          (Name)

                        	

                        
	

                        	

                        
	

                        	

                        
	
                          (Address)

                        	

                        

                   

                  

                  
                    Exhibit B

                    
                      33

                      
                        

                    

                    
                      
                        
                          
                            Execution Version

                            
                              

                              

                              NEITHER THIS WARRANT NOR THE SECURITIES AS TO WHICH THIS WARRANT MAY BE EXERCISED HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
                                OF ANY STATE, AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
                                “SECURITIES ACT”) OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A
                                LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.   IN ADDITION, EXERCISE OF THIS WARRANT IS SUBJECT TO LIMITATIONS SPECIFIED IN THIS WARRANT.

                               

                              

                            

                            
                              COMMON STOCK PURCHASE WARRANT

                              TRANS WORLD ENTERTAINMENT CORPORATION

                               

                               

                              

                              Warrant Shares: 9,360

                            

                            
                              Date of Issuance: March 30, 2020 (the “Issuance Date”)

                            

                            
                               

                              

                              THIS COMMON STOCK PURCHASE WARRANT (this “Warrant”) certifies
                                  that, for value received (in connection with Kick-Start IV, LLC providing a $200,000 loan to Etailz, Inc. (“Etailz”), a subsidiary of Trans
                                  World Entertainment Corporation (the “Company”)), Kick-Start IV, LLC
                                  (including its permitted and registered assigns, the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the
                                  conditions hereinafter set forth, at any time on or after the date of issuance hereof, to purchase from the Company up to 9,360 shares of Common Stock (as defined below) (the “Warrant Shares”) at the Exercise Price per share. The number of Warrant Shares for which this Warrant may be exercised is subject to adjustment in
                                  accordance with the terms hereof.

                              

                              

                              Capitalized terms used in this Warrant shall have the meanings set forth in the body of this Warrant or in Section 20 below. For purposes of this
                                Warrant, the term “Exercise Price” shall mean $0.01 per Warrant Share, and the term “Exercise Period” shall mean the period commencing on the Issuance Date and ending on the earlier of (a) 5:00 p.m. Eastern
                                Standard Time on the five (5)-year anniversary thereof, or if such day is not a Business Day on the next succeeding Business Day, or (b) the occurrence of a Fundamental Transaction.

                              

                              

                            

                            
                              1.           EXERCISE OF WARRANT.

                               

                                

                            

                            
                              (a)          Mechanics of Exercise. Subject to the terms and
                                  conditions hereof, the rights represented by this Warrant may be exercised in whole or in part at any time or times during the Exercise Period by delivery of a written notice on any Business Day, in the form attached
                                  hereto as Exhibit A (the “Exercise Notice”), of the Holder’s election to exercise this Warrant. The Holder shall not be required to deliver the original Warrant in order to effect an exercise hereunder.
                                  Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable
                                  hereunder in an amount equal to the applicable number of Warrant Shares purchased.  On or before the fifth (5th) Business Day (the “Warrant Share Delivery Date”) following the date on which the Company receives the
                                  Exercise Notice (which must be received by the Company prior to 5 p.m. Eastern Standard Time to count as received on such date) and payment of an amount equal to the applicable Exercise Price multiplied by the number of
                                  Warrant Shares as to which all or a portion of this Warrant is being exercised (the “Aggregate Exercise Price”, and together with the Exercise Notice, the “Exercise Deliveries”) in cash or by wire transfer of
                                  immediately available funds (or by cashless exercise, in which case there shall be no Aggregate Exercise Price provided), the Company may (or may direct its transfer agent to) deliver, to the address specified in the
                                  Exercise Notice, a notice indicating the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise, or otherwise provide confirmation of such entitlement. Upon delivery of the Exercise
                                  Deliveries, but subject to Section 1(c), the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised,
                                  irrespective of the date of delivery of the notice in respect of such Warrant Shares. If this Warrant is submitted in connection with any exercise and the number of Warrant Shares represented by this Warrant is greater
                                  than the number of Warrant Shares being acquired upon an exercise, then the Company shall as soon as practicable and in no event later than five (5) Business Days after any exercise and at its own expense, issue a new
                                  Warrant (in accordance with Section 5) representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with
                                  respect to which this Warrant is exercised.

                               

                                

                            

                            
                              34

                              
                                

                            

                            
                              (b)          Cashless Exercise. In the event of a Fundamental
                                  Transaction, the Holder shall, and at any time during the Exercise Period the Holder may at its option, elect to receive, pursuant to a cashless exercise in lieu of a cash exercise, Warrant Shares equal to the value of
                                  this Warrant determined in the manner described below (or of any portion thereof being exercised) by surrender of this Warrant and an Exercise Notice, in which event the Company shall issue to Holder a number of Warrant
                                  Shares computed using the following formula:

                               

                            

                            Y(A – B)

                            X          =                   A

                            Where:

                            

                            

                            X          =              the number of Warrant Shares to be issued to the Holder;

                            Y          =              the total number of Warrant Shares for which the Holder has elected to exercise this Warrant pursuant to Section 1(a);

                            A          =              the fair market value of one Warrant Share at the time of exercise of this Warrant as herein provided; and

                            B          =               the Exercise Price.

                            
                               

                              

                              (c)          Fair Market Value. For purposes of this Section 1, the fair market value of a Warrant Share means, as of any
                                particular date: (a) the volume weighted average of the closing sales prices of the Common Stock for such day on all domestic securities exchanges on which the Common Stock may at the time be listed; (b) if there have been
                                no sales of the Common Stock on any such exchange on any such day, the average of the highest bid and lowest asked prices for the Common Stock on all such exchanges at the end of such day; (c) if on any such day the Common
                                Stock is not listed on a domestic securities exchange, the closing sales price of the Common Stock as quoted on the Financial Industry Regulatory Authority OTC Bulletin Board
                                electronic interdealer quotation system (the “OTC Bulletin Board”), the OTC Markets Group Inc. electronic inter-dealer quotation system (including OTCQX, OTCQB and OTC Pink)
                                (the “Pink OTC Markets”) or similar quotation system or association for such day; or (d) if there have been no sales of the Common Stock on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or
                                association on such day, the average of the highest bid and lowest asked prices for the Common Stock quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association at the end of such day;
                                in each case, averaged over twenty (20) consecutive Business Days ending on the Business Day immediately prior to the day as of which "fair market value" is being determined; provided that if the Common Stock is
                                listed on any domestic securities exchange, the term "Business Day" as used in this sentence means Business Days on which such exchange is open for trading.  If at any time the Common Stock is not listed on any domestic
                                securities exchange or quoted on the OTC Bulletin Board, the Pink OTC Markets or similar quotation system or association, the "fair market value" of a Warrant Share shall be the fair market value per share as determined
                                jointly by the board of directors of the Company and the Holder; provided, that if the board of directors of the Company and the Holder are unable to agree on the fair market
                                value of a Warrant Share within a reasonable period of time (not to exceed thirty (30) days from the Company's receipt of the Exercise Notice), such fair market value shall be determined by a nationally recognized investment
                                banking, accounting or valuation firm jointly selected by the board of directors of the Company and the Holder. The determination of such firm shall be final and conclusive, and the fees and expenses of such valuation firm
                                shall be borne pro rata by the Company and the Holder based on the amount by which each party’s calculation of fair market value is different from the fair market value as determined by such valuation firm.  Notwithstanding
                                anything to the contrary herein, this Warrant may not be exercised, and no Warrant Shares shall be issued in respect of hereof, until the fair market value of the Warrant Shares has been finally determined in accordance with
                                this Section 1(c).

                               

                            

                            
                              (d)         Holder’s Exercise Limitations. The Holder shall not have the right to exercise any portion of this Warrant, and the
                                Company shall not effect any exercise of this Warrant, to the extent that (i) after giving effect to the issuance of Warrant Shares as set forth in the applicable Exercise Notice, the Warrant Shares so issued, together with
                                any and all Warrant Shares previously issued pursuant to a partial exercise of this Warrant, would exceed zero and 46/100 percent (0.46%) of the issued and outstanding Common Stock (such amount, the “0.46% Exercise
                                  Limitation”) or (ii) any such exercise would result in an “ownership change” with respect to the Company within the meaning of Section 382 of the Internal Revenue Code of 1986, as amended (the “Section 382 Exercise
                                  Limitation”). The determination of whether the 0.46% Exercise Limitation applies, and the extent to which it applies, shall be in the sole discretion of the Holder, and the submission of an Exercise Notice shall be
                                deemed to be the Holder’s determination of the extent to which this Warrant is exercisable.  Notwithstanding anything to the contrary herein, the Company shall have no obligation to determine whether the 0.46% Exercise
                                Limitation has been exceeded at any particular time and, unless otherwise notified in writing by the Holder prior to the applicable date of determination, the Company shall be permitted to assume that the 0.46% Exercise
                                Limitation has not been exceeded.  The determination of whether the Section 382 Exercise Limitation applies, and the extent to which it applies, shall be made by the Company in its sole discretion.  Upon the written request
                                of the Holder, the Company shall, within two (2) Business Days, confirm to the Holder the number of shares of Common Stock then outstanding.

                               

                              

                            

                            
                              35

                              
                                

                            

                            
                              (e)         Anti-Dilution. If, at any time after the date hereof while this Warrant is outstanding, the Company sells or issues,
                                any shares of Common Stock for less than the fair market value of the Common Stock on the date of such sale or issuance (as determined in good faith by the board of directors of the Company), such that the Warrant Shares
                                (taking into account any such Warrant Shares issuable or previously issued) represent less than the 0.46% Exercise Limitation (taking into account such sale or issuance, as applicable, and based on the number of shares of
                                Common Stock actually outstanding), then the number of Warrant Shares purchasable under this Warrant shall (at the time of exercise of this Warrant) be adjusted upwards, subject to the Section 382 Exercise Limitation, to an
                                amount equal to the 0.46% Exercise Limitation, computed at the time of such issuance; provided, however, that such adjustment shall be rounded down to the nearest whole share of Common Stock; provided further
                                that anything herein to the contrary notwithstanding, there shall be no adjustment to the number of Warrant Shares issuable upon exercise of this Warrant with respect to any Excluded Issuance.  For purposes of this Section

                                  1(e), the following terms have the following meanings:

                            

                            
                              

                              

                            

                            
                              “Convertible Securities” means any securities (directly or indirectly) convertible into or exchangeable for Common Stock, but excluding Options.

                               

                              “Excluded Issuances” means any issuance or sale (or deemed issuance or sale) by the Company after the date hereof of: (a) shares of Common Stock
                                issued upon the exercise of this Warrant; (b) shares of Common Stock issued directly or upon the exercise of Options to directors, officers, employees, or consultants of the Company in connection with their service as
                                directors of the Company, their employment by the Company or their retention as consultants by the Company, in each case authorized by the board of directors of the Company and issued pursuant to any of the Company’s equity
                                incentive plans from time to time (including all such shares of Common Stock and Options outstanding prior to the date hereof); (c) shares of Common Stock issued upon the conversion or exercise of Options (other than Options
                                covered by clause (b) above) issued prior to the date hereof, provided that such securities are not amended after the date hereof to increase the number of shares of Common
                                Stock issuable thereunder or to lower the exercise or conversion price thereof; (d) shares of Common Stock, Options or Convertible Securities issued (i) to persons in connection with a joint venture, strategic alliance or
                                other commercial relationship with such person (including persons that are customers, suppliers and strategic partners of the Company) relating to the operation of the Company's business and not for the primary purpose of
                                raising equity capital, (ii) in connection with a transaction in which the Company, directly or indirectly, acquires another business or its tangible or intangible assets, or (iii) to lenders as equity kickers in connection
                                with debt financings of the Company, in each case where such transactions have been approved by the board of directors of the Company; (e) shares of Common Stock in an offering for cash for the account of the Company that is
                                underwritten on a firm commitment basis and is registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended; or (f) shares of Common Stock, Options or Convertible Securities issued to
                                the lessor or vendor in any office lease or equipment lease or similar equipment financing transaction in which the Company obtains the use of such office space or equipment for its business.

                               

                              “Options” means any warrants or other rights or options to subscribe for or purchase Common Stock or Convertible Securities.

                               

                              

                            

                            
                              36

                              
                                

                            

                            
                              2.           FUNDAMENTAL TRANSACTIONS.  If, at any time while this Warrant is outstanding, (a) the
                                  Company effects any merger of the Company with or into another entity and the Company is not the surviving entity (such surviving entity, the “Successor Entity”), (b) the Company effects any sale of all or
                                  substantially all of its assets in one or a series of related transactions, (c) any tender offer or exchange offer (whether by the Company or by another individual or entity, and approved by the Company) is completed
                                  pursuant to which holders of Common Stock are permitted to tender or exchange their shares of Common Stock for other securities, cash or property and the holders of at least 50% of the Common Stock accept such offer, or
                                  (d) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (other
                                  than as a result of a subdivision or combination of shares of Common Stock) (in any such case, a “Fundamental Transaction”), then immediately prior to the occurrence of such Fundamental Transaction, this Warrant
                                  shall automatically be converted into the right to receive the number of shares of Common Stock of the Company for which this Warrant is exercisable at such time (assuming a cashless exercise and, for the avoidance of
                                  doubt, taking into account the Section 382 Exercise Limitation).

                               

                              3.          FRACTIONAL SHARES. The Company shall not be required to issue fractions of shares upon
                                  exercise of this Warrant or to distribute certificates which evidence fractional shares. In lieu of fractional shares, the Company may make payment to the Holder, at the time of exercise of this Warrant as herein provided,
                                  in an amount in cash equal to such fraction multiplied by the fair market value (as determined in accordance with Section 1(c)) of one Warrant Share at the time of exercise of this Warrant as herein provided.

                               

                              4.          WARRANT HOLDER NOT DEEMED A STOCKHOLDER.  Except as otherwise specifically provided
                                  herein, this Warrant, in and of itself, shall not entitle the Holder to any voting rights or other rights as a stockholder of the Company. In addition, nothing contained in this Warrant shall be construed as imposing any
                                  liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

                               

                            

                            
                              5.           REISSUANCE.

                               

                            

                            
                              (a)         Lost, Stolen or Mutilated Warrant.  Upon receipt of
                                  evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and upon delivery of an indemnity reasonably satisfactory to it (it being understood that a written
                                  indemnification agreement or affidavit of loss of the Holder shall be a sufficient indemnity) and, in case of mutilation, upon surrender of such Warrant for cancellation to the Company, the Company shall execute and
                                  deliver to the Holder, in lieu hereof, a new Warrant of like denomination and tenor and exercisable for an equivalent number of Warrant Shares as the Warrant so lost, stolen, mutilated or destroyed.

                               

                                

                            

                            
                              (b)          Issuance of New Warrants.  Whenever the Company is
                                  required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant shall be of like tenor with this Warrant, and shall have an issuance date, as indicated on the face of such new Warrant which is the
                                  same as the Issuance Date.

                            

                            
                               

                              

                            

                            
                              6.           TRANSFER.

                               

                            

                            
                              (a)          Notice of Transfer.  Subject to
                                  compliance with applicable securities laws and the transfer conditions referred to in the legend endorsed hereon or otherwise set forth herein, this Warrant and all rights hereunder are transferable, in whole or in part,
                                  by the Holder, upon surrender of this Warrant to the Company at its then principal executive offices with a properly completed and duly executed Assignment of Warrant (in the form attached hereto as Exhibit B) and funds sufficient to pay any transfer taxes payable upon the making of such transfer.  By acceptance of this Warrant, the Holder agrees to
                                  give written notice to the Company before transferring this Warrant or transferring any Warrant Shares of such Holder’s intention to do so, describing briefly the manner of any proposed transfer. As a condition to such
                                  transfer, the prospective transferee or purchaser shall execute an Assignment of Warrant attached hereto as Exhibit B and such other
                                  documents and make such representations, warranties, and agreements as may be reasonably required by the Company solely to comply with the exemptions relied upon by the Company for the transfer or disposition of this
                                  Warrant or the Warrant Shares.  Upon such compliance, surrender, delivery and, if required, such payment pursuant to this Section 6(a), the
                                  Company shall execute and deliver a new Warrant or Warrants in the name of the transferee or transferees and in the denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant
                                  evidencing the portion of this Warrant, if any, not so assigned and this Warrant shall promptly be cancelled.  For the avoidance of doubt, any transferee and any subsequent transferee shall be subject to the 0.46% Exercise Limitation and the Section 382 Exercise Limitation.

                               

                                

                            

                            
                              37

                              
                                

                            

                            
                              (b)          The Holder, by acceptance of this Warrant, agrees to comply in all respects with the
                                  restrictive legend requirements set forth on the face of this Warrant and further agrees that it shall not offer, sell or otherwise dispose of this Warrant or any Warrant Shares to be issued upon exercise hereof except
                                  under circumstances that will not result in a violation of the Securities Act of 1933, as amended (the “Securities Act”).  Notwithstanding anything to the contrary, this Warrant may not be transferred or exercised
                                  unless (i) the transferor, transferee, exercising Holder or its designated recipient of Common Stock issuable on the exercise of such Warrant and the Company, as applicable, have completed and submitted all filings,
                                  registrations or other notifications to any governmental entity that may be required pursuant to applicable law in connection with such transfer or exercise, (ii) all necessary approvals or waivers, as the case may be, of
                                  any governmental entity that may be required pursuant to applicable law in connection with such transfer or exercise have been obtained, and (iii) any waiting periods required by applicable law for the consummation of such
                                  transfer or exercise have expired or been terminated.

                               

                            

                            
                              7.           COVENANTS OF THE COMPANY.

                               

                            

                            
                              (a)          Covenants as to Shares. The Company shall procure
                                  that all Warrant Shares that may be issued upon the exercise of the rights represented by this Warrant are, upon issuance, validly issued and outstanding, fully paid and nonassessable, and free from all taxes, liens and
                                  charges with respect to the issuance thereof. The Company shall, at all times during the Exercise Period, have authorized and reserved, free from preemptive rights, a sufficient number of shares of Common Stock to provide
                                  for the exercise of the rights represented by this Warrant (without regard to any limitations on exercise). If at any time during the Exercise Period the number of authorized but unissued shares of Common Stock are not
                                  sufficient to permit the full exercise of this Warrant, the Company shall take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to
                                  such number as is sufficient for such purposes. During the Exercise Period, the Company shall not at any time increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the
                                  Exercise Price then in effect.

                               

                                

                            

                            
                              (b)         Notices of Record Date. In the event of (i) any
                                  taking by the Company of a record of the holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution; (ii) the effectiveness of a
                                  registration statement on Form S-1 filed with the Securities and Exchange Commission and/or (iii) the consummation of a Fundamental Transaction, then the Company shall provide to the Holder, at least five (5) Business Days
                                  prior to the date of any such event, a notice pursuant to Section 11, specifying the date on which any such action is expected to be taken or any such event is expected to occur.

                            

                            
                              

                              

                            

                            
                              8.           REPRESENTATIONS AND WARRANTIES.

                              

                              

                            

                            
                              (a)           The Company hereby represents and warrants to the Holders as of the Issuance Date as
                                  follows:

                               

                            

                            
                              
                                
                                  	

                                        	(1)	
                                          The Company has all necessary power, capacity and authority to execute and deliver this Warrant, to perform its obligations hereunder, and to consummate the transactions contemplated
                                            hereby. This Warrant has been duly and validly executed and delivered by the Company and, assuming the due execution and delivery by the Holder, constitutes the legal, valid and binding obligation of the Company,
                                            enforceable against the Company in accordance with its terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting the
                                            enforcement of creditors’ rights generally.

                                        

                                

                              

                               

                              
                                
                                  	

                                        	(2)	
                                          All corporate actions on the part of the Company necessary for the issuance of this Warrant have been taken on or prior to the date hereof. The execution and delivery by the Company of
                                            this Warrant do not require any filing with or approval from any governmental authority, except for filings with the United States Securities and Exchange Commission or otherwise required under Federal or state
                                            securities laws and filings made pursuant to the rules and regulations of any stock exchange.

                                        

                                   

                                  

                                

                              

                            

                            
                              38

                              
                                

                            

                            
                              
                                
                                  	

                                        	(3)	
                                          The authorized capital of the Company consists, immediately prior to the Issuance Date, of 5,000,0000 shares of preferred stock, $0.01 par value (none of which are outstanding),
                                              and 200,000,000 shares of common stock, $0.01 par value (1,819,437 of which are issued and outstanding (excluding, for the avoidance of doubt, treasury stock)).  The number of Warrant Shares for which this
                                              Warrant may be exercised is, as of the Issuance Date, equal to zero and 51/100 percent (0.51%) of the issued and outstanding
                                            Common Stock, which number is subject to adjustment in accordance with the terms hereof.

                                        

                                

                              

                               

                            

                            
                              (b)          The Holder hereby represents and warrants to the Company by acceptance of this Warrant as of
                                  Issuance Date (or such other date on which such Holder becomes a Holder hereunder) as follows:

                               

                            

                            
                              
                                
                                  	

                                        	(1)	
                                          The Holder is an "accredited investor" as defined in Rule 501 of Regulation D promulgated under the Securities Act.  The Holder is acquiring this Warrant and the Warrant Shares to be
                                            issued upon exercise hereof for investment for its own account and not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant or the Warrant Shares, except pursuant
                                            to sales registered o exempted under the Securities Act.

                                        

                                

                              

                              

                              

                            

                            
                              
                                
                                  	

                                        	(2)	
                                          The Holder understands and acknowledges that this Warrant and the Warrant Shares to be issued upon exercise hereof are "restricted securities" under the federal securities laws inasmuch
                                            as they are being acquired from the Company in a transaction not involving a public offering and that, under such laws and applicable regulations, such securities may be resold without registration under the
                                            Securities Act only in certain limited circumstances.  In addition, the Holder represents that it is familiar with Rule 144 under the Securities Act, as presently in effect, and understands the resale limitations
                                            imposed thereby and by the Securities Act.

                                        

                                

                              

                              

                              

                            

                            
                              
                                
                                  	

                                        	(3)	
                                          The Holder acknowledges that it can bear the economic and financial risk of its investment for an indefinite period, and has such knowledge and experience in financial or business
                                            matters that it is capable of evaluating the merits and risks of the investment in the Warrant and the Warrant Shares. The Holder has had an opportunity to ask questions and receive answers from the Company
                                            regarding the terms and conditions of the offering of the Warrant and the business, properties, prospects and financial condition of the Company.

                                        

                                

                              

                              

                              

                            

                            
                              9.           TERMINATION OF WARRANT. This Warrant shall expire and shall no longer be exercisable
                                  upon the earlier of (a) the expiration of the Exercise Period and (b) the exercise in full hereof.

                               

                              10.         RESTRICTIVE LEGEND. The Warrant Shares shall be stamped or otherwise imprinted with a
                                  legend in substantially the following form:

                               

                            

                            THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE,
                              AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ASSIGNED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
                              ACT”) OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION
                              OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.    IN ADDITION, EXERCISE OF THE WARRANT IS SUBJECT TO LIMITATIONS SPECIFIED IN THE WARRANT.

                             

                            

                            
                              39

                              
                                

                            

                            
                              11.         NOTICES.  Any notice or other communication to be given under this Warrant shall be in
                                  writing and may either be delivered by hand, made by facsimile transmission, sent by electronic mail transmission, disclosed in all material respects and filed on EDGAR pursuant to the Securities Exchange Act of 1934, sent
                                  by overnight courier, or sent by registered mail, return receipt requested, postage prepaid, as follows: (a) if to the Holder, at the Holder’s address, facsimile number or electronic mail address set forth on the signature
                                  page hereof, or at such other address as the Holder shall have furnished to the Company in writing; and (b) if to the Company, at the Company’s address, facsimile number or electronic mail address set forth on the
                                  signature page hereof, or at such other address as the Company shall have furnished to the Holder in writing.

                               

                              12.         AMENDMENT AND WAIVER.  The terms of this Warrant may be amended or waived (either
                                  generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company and the Holder.

                               

                              13.         GOVERNING LAW; JURISDICTION.  This Warrant and all actions arising out of or in
                                  connection with this Warrant shall be governed by and construed in accordance with the laws of the State of New York without regard to principles of conflicts of law (whether of the State of New York or any other
                                  jurisdiction). EACH PARTY HERETO HEREBY CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN THE BOROUGH OF MANHATTAN, CITY OF NEW YORK, STATE OF NEW YORK AND
                                    IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS ARISING OUT OF OR RELATING TO THIS WARRANT SHALL BE LITIGATED IN SUCH COURTS.  EACH PARTY HERETO EXPRESSLY SUBMITS AND CONSENTS TO THE JURISDICTION OF THE AFORESAID
                                    COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS.

                               

                              14.        JURY TRIAL WAIVER.  THE COMPANY AND THE HOLDER
                                  HEREBY WAIVE A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER IN RESPECT OF ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS WARRANT.

                               

                              15.         ACCEPTANCE.  Receipt of this Warrant by the Holder shall constitute acceptance of and
                                  agreement to all of the terms and conditions contained herein.

                               

                              16.         RIGHTS AND OBLIGATIONS SURVIVE EXERCISE OF WARRANT.  Unless otherwise provided in this
                                  Warrant, the rights and obligations of the Company, of the Holder and of the holder of the Warrant Shares issued upon exercise of this Warrant hereunder shall survive the exercise of this Warrant.

                               

                              17.         SUCCESSORS AND ASSIGNS.  The terms and provisions of this Warrant shall inure to the
                                  benefit of, and be binding upon, the Company, the Holder and their respective permitted successors and assigns.

                               

                              18.         TITLES AND SUBTITLES.  The titles and subtitles used in this Warrant are used for
                                  convenience only and are not to be considered in construing or interpreting this Warrant.

                               

                              19.         SEVERABILITY.  In the event any one or more of the provisions of this Warrant shall
                                  for any reason be held invalid, illegal or unenforceable, the remaining provisions of this Warrant shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid,
                                  legal and enforceable provision, which comes closest to the intention of the parties underlying the invalid, illegal or unenforceable provision.

                               

                                

                            

                            
                              20.          CERTAIN DEFINITIONS.  For purposes of this Warrant, the following terms shall have the
                                  following meanings:

                               

                            

                            
                              (a)           “Business Day” means all days other than Saturdays, Sundays and any other days on
                                  which commercial banks in New York City are authorized or required by law to be closed for business.

                               

                              (b)           “Common Stock” means the Company’s common stock, par value $0.01 per share, and any
                                  other class of securities into which such securities may hereafter be reclassified or changed.

                               

                                

                            

                            
                              40

                              
                                

                            

                            
                              (c)           “Required Consents” means the material filings, registrations, notifications,
                                  approvals, waivers or expiration or termination of any waiting periods that are necessary or required, as set forth in Section 6(b).

                            

                            
                              

                              

                            

                            
                              21.         WARRANT REGISTER.  The Company shall keep and properly maintain at its principal
                                  executive offices books for the registration of the Warrant and any transfers thereof.  The Company may deem and treat the Person in whose name the Warrant is registered on such register as the Holder thereof for all
                                  purposes, and the Company shall not be affected by any notice to the contrary, except any assignment, division, combination or other transfer of the Warrant effected in accordance with the provisions of this Warrant.

                               

                            

                            
                              [Signature page follows]

                              
                                41

                                
                                  

                              

                              
                                IN WITNESS WHEREOF, the Company has caused this Common Stock Purchase Warrant to be duly executed as of the Issuance Date set forth above.

                                

                                

                                	

                                      	
                                        TRANS WORLD ENTERTAINMENT CORPORATION

                                      
	

                                      	

                                      
	

                                      	
                                        By: /s/ Edwin Sapienza

                                      
	

                                      	
                                        Name: Edwin Sapienza

                                      
	

                                      	
                                        Title: Chief Financial Officer

                                      
	

                                      	

                                      
	

                                      	
                                        Address: 38 Corporate Circle

                                      
	

                                      	

                                      
	

                                      	
                                        Albany, NY 12203

                                      
	

                                      	

                                      
	

                                      	
                                        Email: esapienza@twec.com

                                      
	

                                      	

                                      
	

                                      	
                                        Agreed & Accepted:

                                      
	

                                      	

                                      
	

                                      	
                                        Kick-Start IV, LLC

                                        

                                      
	

                                      	

                                      
	

                                      	
                                        By: /s/ Thomas C. Simpson

                                          

                                      
	

                                      	
                                        Name: Thomas C. Simpson

                                        

                                      
	

                                      	
                                        Title: Managing Member

                                        

                                      
	

                                      	

                                      
	

                                      	
                                        
                                          Address: Kick-Start IV, LLC 

                                        

                                      
	

                                      	
                                        1925 S. Stevens

                                      
	

                                      	
                                        Spokane, WA 99203

                                      
	 	 
	 	Email: tom@nwva.com

                                      

                                

                                

                                
                                  [Signature Page to Warrant]

                                

                                
                                  42

                                  
                                    

                                

                                
                                  EXHIBIT A

                                   

                                  

                                  EXERCISE NOTICE

                                   

                                  

                                  (To be executed by the registered holder to exercise this Common Stock Purchase Warrant)

                                   

                                  

                                

                                
                                  The Undersigned holder hereby exercises the right to purchase _________________ of the shares of Common
                                    Stock (“Warrant Shares”) of Trans World Entertainment Corporation, a Delaware corporation (the “Company”), evidenced by the attached copy of the Warrant (as defined below). Capitalized terms used herein and not otherwise
                                    defined shall have the respective meanings set forth in the Common Stock Purchase Warrant (the “Warrant”), dated as of March 30, 2020, issued by the Company.

                                   

                                  

                                

                                
                                  
                                    	1.	
                                            Form of Exercise Price.  The Holder intends that payment of the Exercise Price shall be made as (check one):

                                          

                                  

                                

                                
                                   

                                  

                                

                                
                                  
                                    	

                                          	☐	
                                            a cash exercise with respect to _________________ Warrant Shares; or

                                          

                                  

                                

                                
                                  
                                    	

                                          	☐	
                                            by cashless exercise pursuant to Section 1(b) of the Warrant for _________ Warrant Shares.

                                          

                                  

                                

                                
                                   

                                  

                                

                                
                                  
                                    	2.	
                                            Payment of Exercise Price.  If a cash exercise is selected above, the Aggregate Exercise Price in the sum of $___________________ has been wire transferred to the Company in accordance with the terms
                                              of the Warrant.

                                          

                                  

                                

                                
                                   

                                  

                                

                                
                                  
                                    	3.	
                                            Confirmation.  The undersigned hereby represents and warrants that the Required Consents have been made or obtained, as applicable.

                                          

                                  

                                

                                

                                

                                
                                  
                                    	4.	
                                            Delivery of Warrant Shares.  The Company shall deliver to the holder __________________ Warrant Shares in accordance with the terms of the Warrant.

                                          

                                  

                                

                                

                                

                                	
                                        Date:

                                      	

                                      	

                                      
	

                                      

                                	
                                        (Print Name of Registered Holder)

                                      

                                

                                

                                	
                                        By:

                                      	

                                      	

                                      

                                	
                                        Name:

                                      	

                                      	

                                      

                                	
                                        Title:

                                      	

                                      	

                                      

                                
                                   

                                  

                                   
                                    Exhibit A

                                     

                                    

                                  

                                

                                
                                  43

                                  
                                    

                                

                                
                                  EXHIBIT B

                                   

                                  

                                  ASSIGNMENT OF WARRANT

                                   

                                  

                                  (To be signed only upon authorized transfer of the Warrant)

                                   

                                  

                                

                                
                                  For Value Received, the foregoing Common Stock Purchase Warrant and all rights evidenced thereby are
                                    hereby assigned to                                  . By accepting such transfer, the transferee acknowledges that it has reviewed the within Common Stock Purchase Warrant and has agreed to be bound in all
                                    respects by its terms and conditions; and such transferee represents and warrants that it is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended.

                                   

                                  

                                

                                	
                                        Holder

                                      
	

                                      
	
                                        Date:

                                      	

                                      	

                                      

                                
                                   

                                  

                                

                                	

                                      	

                                      
	
                                        (Signature) *

                                      	

                                      
	

                                      	

                                      
	

                                      	

                                      
	
                                        (Name)

                                      	

                                      
	

                                      	

                                      
	

                                      	

                                      
	
                                        (Address)

                                      	

                                      
	

                                      	

                                      
	

                                      	

                                      
	
                                        (Social Security or Tax Identification No.)

                                      	

                                      

                                
                                  

                                  

                                  * The signature on this Assignment of Warrant must correspond to the name as written upon the face of the Common Stock Purchase Warrant in every particular without
                                    alteration or enlargement or any change whatsoever. When signing on behalf of a corporation, partnership, trust or other entity, please indicate your position(s) and title(s) with such entity.

                                

                                
                                   

                                  

                                

                                	
                                        Transferee

                                      	1

                                      

                                	

                                      
	
                                        Date:

                                      	

                                      	

                                      

                                

                                

                                	

                                      	

                                      
	
                                        (Signature)

                                      	

                                      
	

                                      	

                                      
	

                                      	

                                      
	
                                        (Name)

                                      	

                                      
	

                                      	

                                      
	

                                      	

                                      
	
                                        (Address)

                                      	

                                      

                                 

                                

                                
                                  Exhibit B

                                

                              

                               

                              

                            

                          

                        

                      

                    

                  

                

              

            

             

          

        

      

    

  

  44

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}]]