Document:

Exhibit

Exhibit 10.2

PINNACLE FINANCIAL PARTNERS, INC.
2019 ANNUAL CASH INCENTIVE PLAN

As approved by the Human Resources and Compensation
Committee of Pinnacle Financial Partners on
January 15, 2019

PLAN OBJECTIVES:

The overall objectives of the 2019 Annual Cash Incentive Plan (the “Plan”) are to:

		
	1.
	Motivate participants to ensure that important corporate soundness thresholds and corporate revenue and profitability objectives for 2019 are achieved, and

		
	2.
	Provide a reward system that encourages teamwork and cooperation in the achievement of firm-wide goals.

EFFECTIVE DATES OF THE PLAN:

The Plan is effective for the performance period from January 1, 2019 (Effective Date) through December 31, 2019 (the “Performance Period”) and for such period thereafter as shall be necessary to make all payments earned under the Plan.

ADMINISTRATION:

The Human Resources and Compensation Committee of the Board of Directors (the “HRCC”) is responsible for the overall administration of the Plan and shall have the authority to select the associates who are eligible for participation in the Plan.  The CFO, with the oversight of the CEO, shall provide the HRCC with periodic updates as to the status of the Plan as follows:

		
	•
	Produces status reports on a periodic basis to the CEO, the Leadership Team and the HRCC in order to ensure the ongoing effectiveness of the Plan.  The CEO has discretion related to communication of the status of the incentive plan to all Plan participants.

		
	•
	Makes recommendations for any Plan modifications (including target performance or payout awards) as a result of substantial changes to the organization or participants’ responsibilities to ensure fairness to all Plan participants.

		
	•
	At the end of the Plan period, prepares, verifies, approves and submits the appropriate award calculations and payouts authorized under the Plan to the CEO and, ultimately the HRCC, for approval and distribution.

The Company’s Chief Risk Officer at least annually shall evaluate, report and discuss with the HRCC whether features of the Plan should be limited in order to ensure that the Plan does not pose imprudent risks to the Company and that the Plan does not encourage the manipulation of reported earnings of the Company to enhance any employee’s compensation.

The HRCC is authorized to interpret the Plan, to establish, amend and / or rescind any rules and regulations relating to the Plan and to make any other determinations that it deems necessary or desirable for the administration of the Plan.  The HRCC may correct any defect or omission or reconcile any inconsistency in the Plan in the manner and to the extent the HRCC deems necessary or desirable.  Any decision of the HRCC in the interpretation and administration of Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned.  

1

Nothing in this Plan shall preclude the HRCC from granting awards to participants pursuant to other compensation arrangements of the Company.

ELIGIBILITY:

Except as otherwise provided below, all associates (other than those that become associates as a result of an acquisition consummated by the Company during the Performance Period) who are compensated via a predetermined salary or hourly wage and are not included in any other annual cash incentive or cash performance-based compensation program or plan are eligible for participation in the Plan.  Participants who are not eligible for a full award due to their performance evaluation (see below - Target Award) should be notified by their Leadership Team member as soon as possible prior to distribution of awards. 

Certain associates that are compensated via a commission schedule or commission grid have an opportunity to achieve significant variable pay compensation due to escalating payouts pursuant to the commission schedule or grid based on their individual performance.  As a result, such commission-based associates are not eligible for participation in the Plan unless otherwise authorized under special arrangement approved by the HRCC.

FORFEITURE OF AWARDS:

Any participant whose employment terminates for any reason prior to distribution of awards in January 2020 will not be eligible for distribution of awards under the Plan unless approved by the HRCC or as otherwise provided in an agreement between the Company and such participant.

ETHICS:

The intent of this Plan is to fairly reward individual and team achievement.  Any associate who manipulates or attempts to manipulate the Plan for personal gain at the expense of clients, other associates or Company objectives will be subject to appropriate disciplinary action, including the non-payment of any award otherwise due or paid to such associate under this Plan.

In addition and upon the approval of the Company’s board of directors or the HRCC, payments under the Plan paid to an associate will be subject to recovery and “clawback” by the Company, and repaid by such employee, if the payments are based on materially inaccurate financial statements or other materially inaccurate performance metric criteria. Moreover, payouts under the Plan shall be subject to any clawback or recoupment rules and regulations adopted by the Securities and Exchange Commission or any other regulatory agency adopted pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. 

PLAN FUNDING:

The Plan assets will be funded from the results of operations of the Company with all assets being commingled with the assets of the Company. 

TIMING OF AWARDS:

During the first quarter of 2020, the HRCC shall certify whether the performance goals for the Performance Period have been achieved. Any awards to be distributed pursuant to the Plan shall be distributed on a date determined by the Company prior to January 31, 2020 or as soon as possible thereafter, but in no event later than March 15, 2020.  No award will be distributed prior to January 1, 2020.

2

TARGET AWARD:

Each participant will be assigned an “award tier” based on their position within the Company, their experience level or other factors.  Each participant’s Leadership Team member is responsible for notifying each participant of his or her “award tier”.  The “award tier” will be expressed as a percentage of the participant’s base salary ranging from 10% to 100%.  In order to determine the “target award”, participants will multiply their “award tier percentage” by their actual YTD base salary paid for 2019 as of December 31, 2019.  Overtime or other wage components are not considered in these calculations. 

The incentive for participants that begin their employment with the Company during the period from January 1, 2019 through December 31, 2019 will be calculated using the same formula.

PERFORMANCE CRITERIA

Awards under the Plan shall be conditioned on the attainment of one or more corporate performance goals recommended by the CEO and approved by the HRCC for the 2019 fiscal year.  Additionally, the CEO, based on input from any participant’s team leader, may include performance criteria for any individual or groups of participants as he deems appropriate, subject to the review of the HRCC.  Notwithstanding the foregoing, the HRCC shall have the sole discretion to establish such goals for the Company’s Named Executive Officers (as that term is defined in the rules and regulations of the Securities and Exchange Commission) and the CEO shall have no involvement in setting the performance goals applicable to participation in the Plan for himself or the other Named Executive Officers, and such goals shall be established solely by the HRCC.  

After December 31, 2019, the HRCC shall determine whether and to what extent each performance goal has been met.  In determining whether and to what extent a performance goal has been met, the HRCC may consider such matters as the HRCC deems appropriate. 

DISCRETIONARY INCREASES AND REDUCTIONS:

The CEO may award up to an additional 10% of base pay to any participant in the Plan, other than the CEO, based on extraordinary individual performance.  Likewise, the CEO may reduce a participant’s, other than the CEO’s, award by up to 100% of the calculated award for individual performance, if the participant did not exhibit a strong commitment to the Company’s mission or values.  Notwithstanding the foregoing, the HRCC shall have the sole discretion to accept the CEO’s recommendations for increases or decreases of awards pursuant to this paragraph with respect to Named Executive Officers and to approve any such discretionary adjustments for the CEO; and may make such other adjustments with respect to the Named Executive Officers that are consistent with the Plan.  

Discretionary adjustments outside these parameters shall be approved by the HRCC prior to distribution; however any discretionary adjustment with respect to payments to the Company’s Named Executive Officers, including the CEO, must be approved by the HRCC prior to distribution. 

AMENDMENTS, TERMINATIONS AND OTHER MATTERS:

The HRCC has the right to amend or terminate this Plan in any manner it may deem appropriate in its discretion at any time, including, but not limited to the ability to include or exclude any associate or group of associates from participation in the Plan, modify the award tiers or percentages or modify or waive performance targets.
 

3

Should the Company enter into any merger or purchase agreement (including an agreement with respect to a transaction, consummation of which would constitute a change of control of the Company), significant market expansion or other materially significant strategic event, the HRCC may amend the Plan (including the performance criteria) as it may deem appropriate under the circumstances; in addition, the HRCC may amend the Plan (including the performance criteria) for any non-recurring transaction, event or occurrence which may materially impact the Company’s financial position or results of operations for the fiscal year (e.g., capital transactions, divestiture of assets at gains or losses, branch acquisitions, change in law or accounting rules, etc). 

Furthermore, the Committee may amend the Plan, including the performance goals, at any time to consider the impact of regulatory matters or if required or appropriate to conform to regulatory requirements, guidance or advice or if a change in regulations or regulatory guidance materially impacts performance criteria.     

Furthermore, this Plan does not, nor should any participant imply that it shall, create a contractual relationship or rights between the Company or any associate of the Company or any of the Company’s subsidiaries.  No associate should rely on this Plan as to any awards that the associate believes they might otherwise be entitled to receive.  This Plan shall be governed by and construed in accordance with the laws of the State of Tennessee, without regard to any conflicts of laws or principles.

4Exhibit 4.4

 

GW PHARMACEUTICALS PLC,

as Company

 

and

 

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 

INDENTURE

 

Dated as of [__________]

 

DEBT SECURITIES

 

     

     

    

 

Table
of Contents

 

	 	 	Page
	 	 	 
	ARTICLE I	Definitions and Incorporation by Reference	1
	 	 	 
	Section 1.1	Definitions	1
	Section 1.2	Other Definitions	6
	Section 1.3	Incorporation by Reference of Trust Indenture Act	6
	Section 1.4	Rules of Construction	6
	 	 	 
	ARTICLE II	The Securities	7
	 	 	 
	Section 2.1	Form, Dating and Terms	7
	Section 2.2	Denominations	9
	Section 2.3	Forms Generally	9
	Section 2.4	Execution, Authentication, Delivery and Dating	10
	Section 2.5	Registrar and Paying Agent	12
	Section 2.6	Paying Agent to Hold Money in Trust	12
	Section 2.7	Holder Lists	13
	Section 2.8	Transfer, Exchange or Conversion	13
	Section 2.9	Mutilated, Destroyed, Lost or Wrongfully Taken Securities	13
	Section 2.10	Outstanding Securities	14
	Section 2.11	Cancellation	15
	Section 2.12	Payment of Interest; Defaulted Interest	15
	Section 2.13	Temporary Securities	16
	Section 2.14	Persons Deemed Owners	16
	Section 2.15	Computation of Interest	17
	Section 2.16	Global Securities; Book-Entry Provisions	17
	Section 2.17	CUSIP Numbers, Etc	19
	Section 2.18	Original Issue Discount	19
	 	 	 
	ARTICLE III	Covenants	19
	 	 	 
	Section 3.1	Payment of Securities	19
	Section 3.2	Reports	19
	Section 3.3	Maintenance of Office or Agency	20
	Section 3.4	Corporate Existence	20
	Section 3.5	Compliance Certificate	20
	Section 3.6	Statement by Officers as to Default	21
	Section 3.7	Calculation of Original Issue Discount	21
	 	 	 
	ARTICLE IV	Successors	21
	 	 	 
	Section 4.1	Merger, Consolidation or Sale of Assets	21
	 	 	 
	ARTICLE V	Redemption of Securities	22
	 	 	 
	Section 5.1	Applicability of Article	22
	Section 5.2	Election to Redeem; Notice to Trustee	22
	Section 5.3	Selection by Trustee of Securities to Be Redeemed	22
	Section 5.4	Notice of Redemption	22

 

    	 	 i	 

     

    

 

Table
of Contents

(continued)

 

	 	 	Page
	 	 	 
	Section 5.5	Deposit of Redemption Price	24
	Section 5.6	Securities Payable on Redemption Date	24
	Section 5.7	Securities Redeemed in Part	24
	 	 	 
	ARTICLE VI	Defaults and Remedies	25
	 	 	 
	Section 6.1	Events of Default	25
	Section 6.2	Acceleration	26
	Section 6.3	Other Remedies	27
	Section 6.4	Waiver of Past Defaults	27
	Section 6.5	Control by Majority	27
	Section 6.6	Limitation on Suits	28
	Section 6.7	Rights of Holders to Receive Payment	28
	Section 6.8	Collection Suit by Trustee	28
	Section 6.9	Trustee May File Proofs of Claim	29
	Section 6.10	Priorities	29
	Section 6.11	Undertaking for Costs	29
	 	 	 
	ARTICLE VII	Trustee	30
	 	 	 
	Section 7.1	Duties of Trustee	30
	Section 7.2	Rights of Trustee	31
	Section 7.3	Individual Rights of Trustee	33
	Section 7.4	Trustee’s Disclaimer	33
	Section 7.5	Notice of Defaults	33
	Section 7.6	Reports by Trustee to Holders	33
	Section 7.7	Compensation and Indemnity	34
	Section 7.8	Replacement of Trustee	34
	Section 7.9	Successor Trustee by Merger	36
	Section 7.10	Eligibility; Disqualification	36
	Section 7.11	Preferential Collection of Claims Against Company	36
	 	 	 
	ARTICLE VIII	Legal Defeasance and Covenant Defeasance	37
	 	 	 
	Section 8.1	Option to Effect Legal Defeasance or Covenant Defeasance	37
	Section 8.2	Legal Defeasance and Discharge	37
	Section 8.3	Covenant Defeasance	37
	Section 8.4	Conditions to Legal or Covenant Defeasance	38
	Section 8.5	Deposited Cash and Government Securities to be Held in Trust; Other Miscellaneous  Provisions	39
	Section 8.6	Repayment to Company	40
	Section 8.7	Reinstatement	40
	 	 	 
	ARTICLE IX	Amendments	40
	 	 	 
	Section 9.1	Without Consent of Holders	40
	Section 9.2	With Consent of Holders	41
	Section 9.3	Compliance with Trust Indenture Act	43

 

    	 	 ii	 

     

    

 

Table
of Contents

(continued) 

 

	 	 	Page
	 	 	 
	Section 9.4	Revocation and Effect of Consents and Waivers	43
	Section 9.5	Notation on or Exchange of Securities	44
	Section 9.6	Trustee To Sign Amendments	44
	 	 	 
	ARTICLE X	Satisfaction and Discharge	44
	 	 	 
	Section 10.1	Satisfaction and Discharge	44
	 	 	 
	ARTICLE XI	Miscellaneous	45
	 	 	 
	Section 11.1	Trust Indenture Act Controls	45
	Section 11.2	Notices	45
	Section 11.3	Communication by Holders with other Holders	46
	Section 11.4	Certificate and Opinion as to Conditions Precedent	46
	Section 11.5	Statements Required in Certificate or Opinion	47
	Section 11.6	When Securities Disregarded	48
	Section 11.7	Rules by Trustee, Paying Agent and Registrar	48
	Section 11.8	Legal Holidays	48
	Section 11.9	GOVERNING LAW; WAIVER OF JURY TRIAL	48
	Section 11.10	No Recourse Against Others	48
	Section 11.11	Successors	48
	Section 11.12	Multiple Originals	48
	Section 11.13	Severability	48
	Section 11.14	No Adverse Interpretation of Other Agreements	49
	Section 11.15	Table of Contents; Headings	49
	Section 11.16	Force Majeure	49
	Section 11.17	U.S.A	49
	Section 11.18	Consent to Jurisdiction	49
	Section 11.19	Anti-Money Laundering Laws	50
	Section 11.20	Indenture and Securities Solely Corporate Obligations	50
	Section 11.21	FATCA	50
	Section 11.22	Compliance with Sanctions	51

 

    	 	 iii	 

     

    

 

CROSS-REFERENCE TABLE

 

	
        TIA

        Section
	Indenture

                                                                                Section

	310(a)(1)	7.10
	(a)(2)	7.10
	(a)(3)	N.A.
	(a)(4)	N.A.
	(b)	7.8; 7.10
	311(a)	7.11
	(b)	7.11
	312(a)	2.7
	(b)	11.3
	(c)	11.3
	313(a)	7.6
	(b)(1)	7.6
	(b)(2)	7.6
	(c)	7.6
	(d)	7.6
	314(a)	3.2; 3.5; 11.2
	(b)	N.A.
	(c)(1)	11.4
	(c)(2)	11.4
	(c)(3)	N.A.
	(d)	N.A.
	(e)	11.5
	315(a)	7.1
	(b)	7.5; 11.2
	(c)	7.1
	(d)	7.1
	(e)	6.11
	316(a)(last sentence)	11.6
	(a)(1)(A)	6.5
	(a)(1)(B)	6.4
	(a)(2)	N.A.
	(b)	6.7
	317(a)(1)	6.8
	(a)(2)	6.9
	(b)	2.6
	318(a)	11.1

 

	N.A. means Not Applicable.	 
	 	 
	Note: This Cross-Reference Table shall not, for any purpose, be deemed to be part of this Indenture.

 

    	 	 iv	 

     

    

 

THIS INDENTURE, dated
as of [__________], is entered into by and between GW PHARMACEUTICALS PLC, a public limited company organized under the laws of
England and Wales (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee
(the “Trustee”).

 

WITNESSETH:

 

WHEREAS, the Company
may from time to time duly authorize the issue of its unsecured debentures, notes or other evidences of indebtedness to be issued
in one or more series (the “Securities”) up to such principal amount or amounts as may from time to time be
authorized in accordance with the terms of this Indenture;

 

WHEREAS, the Company
has duly authorized the execution and delivery of this Indenture to provide, among other things, for the authentication, delivery
and administration of the Securities; and

 

WHEREAS, all things
necessary to make this Indenture a valid indenture and agreement in accordance with its terms have been done;

 

NOW, THEREFORE:

 

In consideration of
the premises and the purchases of the Securities by the holders thereof, the Company and the Trustee mutually covenant and agree
for the equal and proportionate benefit of the respective holders from time to time of the Securities as follows:

 

ARTICLE
I

Definitions and Incorporation by Reference

 

Section 1.1           Definitions.

 

“Additional
Amounts” means any additional amounts required by the express terms of a Security, by or pursuant to a Board Resolution
or a supplemental indenture, under circumstances specified therein or pursuant thereto, to be paid by the Company with respect
to certain taxes, assessments or other governmental charges imposed on certain Holders and that are owing to those Holders.

 

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

 

“Board of
Directors” means:

 

(1)         with
respect to a public limited company, the board of directors of the public limited company or any committee thereof duly authorized
to act on behalf of such board;

 

     

     

    

 

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

 

(3)         with
respect to a partnership, the board of directors of the general partner of the partnership;

 

(4)         with
respect to a limited liability company, the manager, managers, managing member or members or any controlling committee of managers
or managing members thereof, as the case may be; and

 

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

 

“Board Resolution”
means a copy of a resolution certified by a Vice President or the Secretary of the applicable Person to have been duly adopted
by the Board of Directors of such Person and to be in full force and effect on the date of such certification, and delivered to
the Trustee.

 

“Business
Day” means any day other than a Saturday, a Sunday or a day on which banking institutions in The City of New York or
in a Place of Payment are authorized by law, regulation or executive order to remain closed. If a payment date is not a Business
Day, payment may be made on the next succeeding day that is a Business Day, and no interest shall accrue for the intervening period.

 

“Capital Stock”
means, with respect to any Person, any and all shares, interests, participations or other equivalents (however designated and whether
or not voting) of such Person, including each class of ordinary shares and all limited liability or partnership interests (whether
general or limited) of such Person, and all options, warrants or other rights to purchase or acquire any of the foregoing; but
excluding any debt securities convertible or exchangeable into such equity.

 

“Code”
means the Internal Revenue Code of 1986, as amended.

 

“Company”
has the meaning ascribed to it in the first introductory paragraph of this Indenture.

 

“Company Order”
and “Company Request” mean, respectively, a written order or request signed in the name of the Company by an
Officer of the Company, and delivered to the Trustee.

 

“Corporate
Trust Office,” with respect to the Trustee, means the principal corporate trust office of the Trustee currently located
at 100 Wall Street, Suite 1600, New York, New York 10005, USA, Attention: International Corporate Trust, at which at any particular
time its corporate trust business shall be principally administered, or such other address as the Trustee may designate from time
to time by notice to the Holders and the Company.

 

“Custodian”
means any receiver, trustee, assignee, liquidator, custodian or similar official under any applicable federal, state or foreign
bankruptcy, insolvency or similar law.

 

    	 	2	 

     

    

 

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

 

“Depositary”
means, with respect to the Securities of any series issuable or issued in whole or in part in global form, the Person specified
pursuant to Section 2.1 hereof as the initial Depositary with respect to the Securities of that series, until a successor
shall have been appointed and become such pursuant to the applicable provision of this Indenture, and thereafter “Depositary”
shall mean or include that successor.

 

“Dollar”
or “$” means a dollar or other equivalent unit in such coin or currency of the United States as at the time
shall be legal tender for the payment of public and private debt.

 

“DTC”
means The Depository Trust Company, its nominees and their respective successors and assigns, or such other depositary institution
hereinafter appointed by the Company.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

 

“Global Securities”
of any series means a Security of that series that is issued in global form in the name of the Depositary with respect thereto
or its nominee.

 

“Government
Securities” means direct obligations of, or obligations guaranteed by, the United States of America for the payment of
which obligations or guarantee the full faith and credit of the United States of America is pledged.

 

“Holder”
means a Person in whose name a Security is registered in the applicable Securities Register.

 

“Indebtedness”
means, with respect to any Person, of any Person means any debt for money borrowed which is created, assumed, incurred or guaranteed
in any manner by such Person or for which such Person is otherwise responsible or liable, and shall expressly include any such
guaranty thereof by such Person. For the purpose of computing the amount of the Indebtedness of any Person there shall be excluded
all Indebtedness of such Person for the payment or redemption or satisfaction of which money or securities (or evidences of such
Indebtedness, if permitted under the terms of the instrument creating such Indebtedness) in the necessary amount shall have been
deposited in trust with the proper depositary, whether upon or prior to the maturity or the date fixed for redemption of such Indebtedness;
and, in any instance where Indebtedness is so excluded, for the purpose of computing the assets of such Person there shall be excluded
the money, securities or evidences of Indebtedness deposited by such Person in trust for the purpose of paying or satisfying such
Indebtedness.

 

“Indenture”
means this Indenture as amended or supplemented from time to time by one or more indentures supplemental hereto entered into pursuant
to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions
of the Trust Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental indenture, respectively.
The term “Indenture” shall also include the terms of any particular series of Securities established as contemplated
by Section 2.1.

 

    	 	3	 

     

    

 

“Interest
Payment Date,” when used with respect to any Security, shall have the meaning assigned to that term in the Security as
contemplated by Section 2.1.

 

“Lien”
means any lien, mortgage, deed of trust, pledge, security interest, charge or encumbrance of any kind (including any conditional
sale or other title retention agreement, any lease in the nature thereof and any agreement to give any security interest).

 

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

 

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

 

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

 

“Officers’
Certificate” means, with respect to any Person, a certificate signed by an Officer of the Person, at least one of whom
shall be the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer or the Treasurer.

 

“Opinion of
Counsel” means a written opinion from legal counsel who is reasonably acceptable to the Trustee. The counsel may be an
employee of or counsel to the Company or any Subsidiary of the Company.

 

“Original
Issue Discount Security” means any Security that provides for an amount less than the principal amount thereof to be
due and payable on a declaration of acceleration of the Maturity thereof pursuant to Section 6.2.

 

“Paying Agent”
means any Person authorized by the Company to pay the principal of, premium, if any, or interest on any Securities on behalf of
the Company. The Company may act as Paying Agent with respect to Securities of any series issued hereunder.

 

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

 

“Place of
Payment” when used with respect to the Securities of any series, means the place or places specified with respect to
that series of the Securities, as contemplated by Section 2.1(g), and as determined by the Trustee and the Company.

 

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

 

    	 	4	 

     

    

 

“Redemption
Price” means, with respect to any Security to be redeemed, the price at which it is to be redeemed pursuant to this Indenture.

 

“SEC”
means the Securities and Exchange Commission.

 

“Securities”
has the meaning ascribed to it in the second introductory paragraph of this Indenture.

 

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

 

“Securities
Register” means the register of Securities, maintained by the Registrar, pursuant to Section 2.5.

 

“Security
Custodian” means, with respect to Securities of a series issued in global form, the Trustee for Securities of that series,
as custodian with respect to the Securities of that series, or any successor entity thereto.

 

“Significant
Subsidiary” means any Subsidiary of the Company which would constitute a “significant subsidiary”
as defined in Rule 1.02 of Regulation S-X under the Securities Act and the Exchange Act.

 

“Stated Maturity”
means, with respect to any installment of interest or principal on any series of indebtedness, the date on which the payment of
interest or principal was scheduled to be paid in the documentation governing such indebtedness as of the date of this Indenture,
and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date
originally scheduled for the payment thereof.

 

“Subsidiary”
with respect to any Person, means:

 

(1)         any
corporation of which the outstanding Capital Stock having at least a majority of the votes entitled to be cast in the election
of directors under ordinary circumstances shall at the time be owned, directly or indirectly, by such Person; or

 

(2)         any
other Person of which at least a majority of the voting interest under ordinary circumstances is at the time, directly or indirectly,
owned by such Person.

 

“TIA”
or “Trust Indenture Act,” except as otherwise provided in Section 9.3, means the Trust Indenture Act
of 1939 (15 U.S.C. §§ 77aaa 77bbbb), as in effect on the date hereof.

 

“Trust Officer”
shall mean, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee having direct
responsibility for the administration of this Indenture, or any other officer to whom any corporate trust matter is referred because
of such person’s knowledge of and familiarity with the particular subject.

 

“Trustee”
means the Person named as such above until a successor replaces it in accordance with the applicable provisions of this Indenture,
and thereafter “Trustee” means each Person who is then a Trustee hereunder, and if at any time there is more
than one such Person, “Trustee” as used with respect to the Securities of any series means the Trustee with
respect to Securities of that series.

 

    	 	5	 

     

    

 

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

 

Section 1.2           Other
Definitions.

 

	
        Term
	 	
        Defined
        in Section

	“Agent Members”	 	2.16
	“Covenant Defeasance”	 	8.3
	“Defaulted Interest”	 	2.12
	“Event of Default”	 	6.1
	“Legal Defeasance”	 	8.2
	“Legal Holiday”	 	11.8
	“protected purchaser”	 	2.9
	“Registrar”	 	2.5
	“Special Interest Payment Date”	 	2.12(a)
	“Special Record Date”	 	2.12(a)
	“Surviving Entity”	 	4.1(a)

 

Section 1.3           Incorporation
by Reference of Trust Indenture Act. This Indenture is subject to the mandatory provisions of the TIA which are incorporated
by reference in and made a part of this Indenture. The following TIA terms have the following meanings:

 

“Commission” means
the SEC.

 

“indenture securities”
means the Securities.

 

“indenture security holder”
means a Holder of a Security.

 

“indenture to be qualified”
means this Indenture.

 

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

 

“obligor” on any
series of Securities means the Company and any other obligor on such series of Securities.

 

All other TIA terms
used in this Indenture that are defined by the TIA, defined in the TIA by reference to another statute or defined by SEC rules
promulgated under the TIA have the meanings assigned to them by such definitions.

 

Section 1.4           Rules
of Construction. Unless the context otherwise requires:

 

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

 

    	 	6	 

     

    

 

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

 

(c)          “or”
is not exclusive;

 

(d)          “including”
means including without limitation;

 

(e)          words
in the singular include the plural and words in the plural include the singular;

 

(f)          the
principal amount of any noninterest bearing or other discount security at any date shall be the principal amount thereof that would
be shown on a balance sheet of the Company dated such date prepared in accordance with U.S. GAAP; and

 

(g)          provisions
apply to successive events and transactions.

 

ARTICLE
II

The Securities

 

Section 2.1           Form,
Dating and Terms.

 

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

 

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

 

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

 

(b)          if
there is to be a limit, the limit upon the aggregate principal amount of the Securities of the series that may be authenticated
and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, other Securities of the series pursuant to Section 2.8, 2.9, 2.13, 2.16, 5.7
or 9.5 and except for any Securities that, pursuant to Section 2.4 or 2.16, are deemed never to have been
authenticated and delivered hereunder); provided, however, that unless otherwise provided in the terms of the series,
the authorized aggregate principal amount of such series may be increased before or after the issuance of any Securities of the
series by a Board Resolution (or action pursuant to a Board Resolution) to such effect;

 

(c)          whether
any Securities of the series are to be issuable initially in temporary global form and whether any Securities of the series are
to be issuable in permanent global form, as Global Securities or otherwise, and, if so, whether beneficial owners of interests
in any such Global Security may exchange such interests for Securities of such series and of like tenor of any authorized form
and denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section
2.16, and the initial Depositary and Security Custodian, if any, for any Global Security or Securities of such series;

 

    	 	7	 

     

    

 

(d)          the
manner in which any interest payable on a temporary Global Security on any Interest Payment Date will be paid if other than in
the manner provided in Section 2.12;

 

(e)          the
date or dates on which the principal of and premium (if any) on the Securities of the series is payable or the method of determination
thereof;

 

(f)          the
rate or rates, or the method of determination thereof, at which the Securities of the series shall bear interest, if any, whether
and under what circumstances Additional Amounts with respect to such Securities shall be payable, the date or dates from which
such interest shall accrue, the Interest Payment Dates on which such interest shall be payable and the record date for the interest
payable on any Securities on any Interest Payment Date, or if other than provided herein, the Person to whom any interest on Securities
of the series shall be payable;

 

(g)          the
place or places where, subject to the provisions of Section 3.3, the principal of, premium (if any) and interest on and
any Additional Amounts with respect to the Securities of the series shall be payable;

 

(h)          the
period or periods within which, the price or prices (whether denominated in cash, securities or otherwise) at which and the terms
and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company, if the Company
is to have that option, and the manner in which the Company must exercise any such option, if different from those set forth herein;

 

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

 

(j)          if
other than denominations of $2,000 and any integral multiple of $1,000 in excess thereof, the denomination in which any Securities
of that series shall be issuable;

 

(k)          any
additional means of satisfaction and discharge of this Indenture and any additional conditions or limitations to discharge with
respect to Securities of the series pursuant to Article VIII or any modifications of or deletions from such conditions or
limitations;

 

(l)          any
deletions or modifications of or additions to the Events of Default set forth in Section 6.1 or covenants of the Company
set forth in Article III pertaining to the Securities of the series;

 

(m)          any
restrictions or other provisions with respect to the transfer or exchange of Securities of the series, which may amend, supplement,
modify or supersede those contained in this Article II;

 

    	 	8	 

     

    

 

(n)          if
the Securities of the series are to be convertible into or exchangeable for capital stock, other debt securities (including Securities),
warrants, other equity securities or any other securities or property of the Company, or any other Person, at the option of the
Company or the Holder or upon the occurrence of any condition or event, the terms and conditions for such conversion or exchange;
and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, including the initial conversion
or exchange price or rate or the method of calculation, how and when the conversion price or exchange ratio may be adjusted, whether
conversion or exchange is mandatory, at the option of the holder or at the Company’s option, the conversion or exchange period,
and any other provision in relation thereto;

 

(o)          if
applicable, that the Securities of the series, in whole or any specified part, shall not be defeasible pursuant to Section 8.2
or Section 8.3 or both such Sections, and, if such Securities may be defeased, in whole or in part, pursuant to either or
both such Sections, any provisions to permit a pledge of obligations other than Government Securities (or the establishment of
other arrangements) to satisfy the requirements of Section 8.4(a) for defeasance of such Securities and, if other than by
a Board Resolution of the Company, the manner in which any election by the Company to defease such Securities shall be evidenced;
and

 

(p)          any
other terms of the series (which terms shall not be prohibited by the provisions of this Indenture).

 

All Securities of any
one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to
the Board Resolution referred to above and (subject to Section 2.3) set forth, or determined in the manner provided, in
the Officers’ Certificate or Company Order referred to above or in any such indenture supplemental hereto.

 

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

 

The Company may purchase
or otherwise acquire the Securities, whether by open market purchases, negotiated transactions or otherwise.

 

Section 2.2           Denominations.
The Securities of each series shall be issuable in such denominations as shall be specified as contemplated by Section
2.1. In the absence of any such provisions with respect to the Securities of any series, the Securities of such series denominated
in Dollars shall be issuable in denominations of $2,000 and any integral multiples of $1,000 thereof.

 

Section 2.3           Forms
Generally. The Securities of each series shall be in fully registered form and in substantially such form or forms (including
temporary or permanent global form) established by or pursuant to a Board Resolution or in one or more indentures supplemental
hereto. The Securities may have notations, legends or endorsements required by law, securities exchange rule, the Company’s
certificate of incorporation, bylaws or other similar governing documents, agreements to which the Company is subject, if any,
or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company). A copy of the Board
Resolution establishing the form or forms of Securities of any series shall be delivered to the Trustee at or prior to the delivery
of the Officers’ Certificate or Company Order contemplated by Section 2.4 for the authentication and delivery of
such Securities. 

 

    	 	9	 

     

    

 

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

 

The Trustee’s
certificate of authentication shall be in substantially the following form:

 

“This is one of the Securities
of the series designated therein referred to in the within-mentioned Indenture.

 

	 	U.S. Bank National Association, as Trustee
	 	By:	 
	 	 	Authorized Signatory”

 

Section 2.4           Execution,
Authentication, Delivery and Dating. One Officer of the Company shall sign the Securities on behalf of the Company by manual
or facsimile signature.

 

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

 

A Security shall not
be entitled to any benefit under this Indenture or be valid or obligatory for any purpose until authenticated by the manual signature
of an authorized signatory of the Trustee, which signature shall be conclusive evidence that the Security has been authenticated
under this Indenture. Notwithstanding the foregoing, if any Security has been authenticated and delivered hereunder but never issued
and sold by the Company, and the Company delivers such Security to the Trustee for cancellation as provided in Section 2.11,
together with a written statement (which need not comply with Section 11.5 and need not be accompanied by an Opinion of
Counsel) stating that such Security has never been issued and sold by the Company, for all purposes of this Indenture such Security
shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture.

 

At any time and from
time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the
Company to the Trustee for authentication, and the Trustee shall authenticate and deliver such Securities for original issue upon
a Company Order for the authentication and delivery of such Securities or pursuant to such procedures acceptable to the Trustee
as may be specified from time to time by Company Order. Such order shall specify the amount of the Securities to be authenticated,
the date on which the original issue of Securities is to be authenticated, the name or names of the initial Holder or Holders and
any other terms of the Securities of such series not otherwise determined. If provided for in such procedures, such Company Order
may authorize (1) authentication and delivery of Securities of such series for original issue from time to time, with certain terms
(including, without limitation, the Maturity dates or dates, original issue date or dates and interest rate or rates) that differ
from Security to Security and (2) may authorize authentication and delivery pursuant to oral or electronic instructions from the
Company or its duly authorized agent, which instructions shall be promptly confirmed in writing.

 

    	 	10	 

     

    

 

If the form or terms
of the Securities of the series have been established in or pursuant to one or more Board Resolutions as permitted by Section
2.1, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such
Securities, the Trustee shall receive (in addition to the Company Order referred to above and the other documents required by Section
11.4), and (subject to Section 7.1) shall be fully protected in conclusively relying upon:

 

(a)          an
Officers’ Certificate of the Company setting forth the Board Resolution and, if applicable, an appropriate record of any
action taken pursuant thereto, as contemplated by the last paragraph of Section 2.1; and

 

(b)          an
Opinion of Counsel to the effect that:

 

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

 

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

 

(iii)        that
such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute valid and binding obligations of the Company enforceable against the Company
in accordance with their respective terms, except as the enforceability thereof may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance or transfer or other similar laws in effect from time to time affecting the rights
of creditors generally, and the application of general principles of equity (regardless of whether such enforceability is considered
in a proceeding in equity or at law); and

 

(iv)        that
all laws and requirements in respect of the execution and delivery by the Company of such Securities have been complied with.

 

If all the Securities
of any series are not to be issued at one time, it shall not be necessary to deliver an Opinion of Counsel at the time of issuance
of each such Security, but such Opinion of Counsel shall be delivered at or before the time of issuance of the first Security of
the series to be issued.

 

The Trustee shall not
be required to authenticate such Securities if the Trustee, being advised by counsel, determines that such action may not lawfully
be taken or if the issuance of such Securities pursuant to this Indenture would affect the Trustee’s own rights, duties or
immunities under the Securities and this Indenture or otherwise in a manner not reasonably acceptable to the Trustee.

 

    	 	11	 

     

    

 

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

 

Each Security shall
be dated the date of its authentication.

 

Section 2.5           Registrar
and Paying Agent. The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register
maintained in such office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively
referred to as the “Securities Register”) in which, subject to such reasonable regulations as it may prescribe,
the Company shall provide for the registration of Securities, and of the transfer, exchange and conversion of any Securities. The
Trustee is hereby appointed “Registrar” for the purpose of registering Securities and transfers of Securities
as herein provided. The Company may have one or more co-registrars.

 

The Company shall enter
into an appropriate agency agreement with any Registrar, Paying Agent or co-registrar not a party to this Indenture, which shall
incorporate the terms of the TIA. The agreement shall implement the provisions of this Indenture that relate to such agent. The
Company shall notify the Trustee of the name and address of each such agent. If the Company fails to maintain a Registrar or Paying
Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.7.
The Company or any of its Subsidiaries may act as Paying Agent, Registrar, co-registrar or transfer agent. The Company may have
one or more additional paying agents. The term “Paying Agent” includes any additional paying agent.

 

The Company initially
appoints the Trustee as Registrar and Paying Agent for the Securities.

 

Section 2.6           Paying
Agent to Hold Money in Trust. With respect to any series of Securities of which the Company is not acting as the Paying Agent,
the Company shall, no later than 10:00 a.m. (New York City time) on the Business Day prior to the date on which any amount or Additional
Amounts, if any, in respect of any Security is due and payable, deposit with the Paying Agent a sum sufficient in immediately available
funds to pay such amount or Additional Amounts, if any, when due. The Company shall require each Paying Agent (other than the Trustee)
to agree in writing that such Paying Agent shall hold in trust for the benefit of the applicable Holders or the Trustee all money
held by such Paying Agent for the payment of such amount and Additional Amounts, if any, on the applicable Securities and shall
notify the Trustee in writing of any default by the Company in making any such payment.

 

If the Company or a
Subsidiary acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund.
The Company at any time may require a Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to account
for any funds disbursed by such Paying Agent. Upon complying with this Section 2.6, the Paying Agent (if other than the
Company or a Subsidiary) shall have no further liability for the money delivered to the Trustee. Upon any bankruptcy, reorganization
or similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Securities.

 

    	 	12	 

     

    

 

Section 2.7           Holder
Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of
the names and addresses of Holders. If the Trustee is not the Registrar with respect to a series of Securities, or to the extent
otherwise required under the TIA, the Company shall furnish to the Trustee, in writing at least five Business Days before each
interest payment date with respect to such series of Securities and at such other times as the Trustee may request in writing,
a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders of such series.

 

Section 2.8           Transfer,
Exchange or Conversion. Except as set forth in Section 2.16 or as may be provided pursuant to Section 2.1, when
Securities of any series are presented to the Registrar with the request to register the transfer of those Securities or to exchange
those Securities for an equal principal amount of Securities of the same series of like tenor and of other authorized denominations,
or to convert those Securities pursuant to the terms of such Securities, the Registrar shall register the transfer or make the
exchange or conversion as requested if its requirements and the requirements of this Indenture for those transactions are met;
provided, however, that the Securities presented or surrendered for registration of transfer, exchange or conversion shall be
duly endorsed or accompanied by a written instructions in a form reasonably satisfactory to the Registrar and duly executed by
the Holder thereof or by his attorney, duly authorized in writing, on which instruction the Registrar can conclusively rely.

 

To permit registrations
of transfers, exchanges and conversions, the Company shall execute Securities, as applicable, and the Trustee shall authenticate
such Securities at the Registrar’s written request and submission of the Securities (other than Global Securities). No service
charge shall be made to a Holder for any registration of transfer, exchange or conversion (except as otherwise expressly permitted
herein), but the Company and the Trustee may require payment of a sum sufficient to cover any transfer tax or similar governmental
charge payable in connection therewith (other than such transfer tax or similar governmental charge payable on exchanges pursuant
to Section 2.13, 5.7 or 9.5). The Trustee shall authenticate Securities in accordance with the provisions
of Section 2.4. Notwithstanding any other provisions of this Indenture to the contrary, the Company shall not be required
to register the transfer, exchange or conversion of (a) any Security selected for redemption in whole or in part pursuant to Article
V, except the unredeemed portion of any Security being redeemed in part or (b) any Security during the period beginning 15
Business Days before the mailing of notice of any offer to repurchase Securities of the series required pursuant to the terms thereof
or of redemption of Securities of a series to be redeemed and ending at the close of business on the date of mailing.

 

Section 2.9           Mutilated,
Destroyed, Lost or Wrongfully Taken Securities. If a mutilated Security is surrendered to the Registrar or if the Holder of
a Security claims that the Security has been lost, destroyed or wrongfully taken, the Company shall issue and the Trustee shall
authenticate a replacement Security with respect to such series if the requirements of Section 8-405 of the Uniform Commercial
Code are met, such that the Holder (a) satisfies the Company or the Trustee within a reasonable time after such Holder has notice
of such loss, destruction or wrongful taking and the Registrar does not register a transfer prior to receiving such notification,
(b) makes such request to the Company or Trustee prior to the Security being acquired by a protected purchaser as defined in Section
8-303 of the Uniform Commercial Code (a “protected purchaser”) and (c) satisfies any other reasonable requirements
of the Trustee. Such Holder shall furnish an indemnity bond sufficient in the judgment of the Company and the Trustee to protect
the Company, the Trustee, the Paying Agent, the Registrar and any co-registrar from any loss which any of them may suffer if a
Security is replaced, and, in the absence of notice to the Company or the Trustee that such Security has been acquired by a protected
purchaser, the Company shall execute and, upon a Company Order, the Trustee shall authenticate and make available for delivery,
in exchange for any such mutilated Security or in lieu of any such destroyed, lost or wrongfully taken Security, a new Security
of like tenor and principal amount, bearing a number not contemporaneously outstanding.

 

    	 	13	 

     

    

 

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

 

Upon the issuance of
any new Security under this Section 2.9, the Company may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee)
in connection therewith.

 

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

 

The provisions of this
Section 2.9 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement
or payment of mutilated, destroyed, lost or wrongfully taken Securities.

 

Section 2.10         Outstanding
Securities. Securities outstanding at any time are all Securities authenticated by the Trustee except for those canceled by
it, those delivered to it for cancellation, those paid pursuant to Section 2.9 and those described in this Section 2.10
as not outstanding. A Security ceases to be outstanding in the event the Company or a Subsidiary of the Company holds the
Security, provided, however, that (i) for purposes of determining which are outstanding for consent or voting purposes
hereunder, the provisions of Section 11.6 shall apply and (ii) in determining whether the Trustee shall be protected in
making a determination whether the Holders of the requisite principal amount of outstanding Securities are present at a meeting
of Holders of Securities for quorum purposes or have consented to or voted in favor of any request, demand, authorization, direction,
notice, consent, waiver, amendment or modification hereunder, or relying upon any such quorum, consent or vote, only Securities
which a Trust Officer of the Trustee actually knows to be held by the Company or an Affiliate of the Company shall not be considered
outstanding.

  

    	 	14	 

     

    

 

If a Security is replaced
pursuant to Section 2.9, it ceases to be outstanding unless the Trustee and the Company receive proof satisfactory to them
that the replaced Security is held by a protected purchaser.

 

If the Paying Agent
segregates and holds in trust, in accordance with this Indenture, on a Redemption Date or maturity date money sufficient to pay
all amounts and Additional Amounts, if any, payable on that date with respect to the Securities (or portions thereof) to be redeemed
or maturing, as the case may be, and the Paying Agent is not prohibited from paying such money to the Holders on that date pursuant
to the terms of this Indenture, then on and after that date such Securities (or portions thereof) cease to be outstanding and interest
on them ceases to accrue.

 

Section 2.11         Cancellation.
The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward
to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else
shall cancel all Securities surrendered for registration of transfer, exchange, payment or cancellation and dispose of such Securities
in accordance with its internal policies (subject to the record retention requirements of the Exchange Act), and certification
of their cancellation shall be delivered to the Company promptly upon receipt by the Trustee of a Company Request. The Company
may not issue new Securities to replace Securities it has paid or delivered to the Trustee for cancellation for any reason other
than in connection with a transfer or exchange.

 

Section 2.12         Payment
of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.1 with respect to the Securities
of any series, interest and Additional Amounts, if any, on any Security of such series which is payable, and is punctually paid
or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor
Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the
Company maintained for such purpose pursuant to Section 2.5.

 

Unless otherwise provided
as contemplated by Section 2.1 with respect to the Securities of any series, any interest and Additional Amounts, if any,
on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues
for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest
and (to the extent lawful) interest on such defaulted interest at the rate provided for in the Securities therefor (such defaulted
interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Company,
at its election in each case, as provided in clause (a) or (b) below:

 

(a)          The
Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor
Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted
Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the
“Special Interest Payment Date”), and at the same time the Company shall deposit with the Trustee an amount
of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory
to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the
benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record
date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than
15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the
Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date, and in
the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special
Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 11.2, not less
than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record
Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest
Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close
of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b).

 

    	 	15	 

     

    

 

(b)          The
Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given
by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable
by the Trustee.

 

(c)          The
Trustee shall not at any time be under any duty or responsibility to any Holder to determine the Defaulted Interest, or with respect
to the nature, extent, or calculation of the amount of Defaulted Interest owed, or with respect to the method employed in such
calculation of the Defaulted Interest.

 

(d)          Subject
to the foregoing provisions of this Section 2.12, each Security delivered under this Indenture upon registration of, transfer
of or in exchange for or in lieu of any other Security shall carry the rights to interest and Additional Amounts, if any, each
as accrued and unpaid, and to accrue, which were carried by such other Security.

 

Section 2.13         Temporary
Securities. Until definitive Securities of any series are ready for delivery, the Company may prepare and the Trustee shall
authenticate temporary Securities of such series. Temporary Securities shall be substantially in the form of definitive Securities,
but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company
shall prepare and the Trustee shall authenticate definitive Securities in exchange for temporary Securities. Until so exchanged,
the temporary Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities.

 

Section 2.14         Persons
Deemed Owners. The Company, the Trustee, any agent and any authenticating agent may treat the Person in whose name any Security
is registered as the owner of that Security for the purpose of receiving payments of principal of, premium (if any) or interest
on, or any Additional Amounts with respect to, that Security and for all other purposes. None of the Company, the Trustee, any
agent or any authenticating agent shall be affected by any notice to the contrary.

 

    	 	16	 

     

    

 

Section 2.15         Computation
of Interest. Except as otherwise provided as contemplated by Section 2.1 with respect to the Securities of any series,
interest on the Securities shall be computed by the Company on the basis of a 360-day year of twelve 30-day months.

 

Section 2.16         Global
Securities; Book-Entry Provisions. If Securities of a series are issuable in global form as a Global Security, as contemplated
by Section 2.1, then, notwithstanding clause (c) of Section 2.1 and the provisions of Section 2.2,
any such Global Security shall represent those of the outstanding Securities of that series as shall be specified therein and
may provide that it shall represent the aggregate amount of outstanding Securities of that series from time to time endorsed thereon
and that the aggregate amount of outstanding Securities of that series represented thereby may from time to time be reduced or
increased, as appropriate, to reflect exchanges, transfers or redemptions. Any endorsement of a Global Security to reflect the
amount, or any increase or decrease in the amount, of outstanding Securities of that series represented thereby shall be made
by the Trustee (i) in such manner and upon instructions given by such Person or Persons as shall be specified in that Security
or in a Company Order to be delivered to the Trustee pursuant to Section 2.4 or (ii) otherwise in accordance with written
instructions or such other written form of instructions as is customary for the Depositary for that Security, from that Depositary
or its nominee on behalf of any Person having a beneficial interest in that Global Security. Subject to the provisions of Section
2.4 and, if applicable, Section 2.13, the Trustee shall deliver and redeliver any Security in permanent global form
in the manner and upon written instructions given by the Person or Persons specified in that Security or in the applicable Company
Order. With respect to the Securities of any series that are represented by a Global Security, the Company authorizes the execution
and delivery by the Depositary appointed with respect to that Global Security. Any Global Security may be deposited with the Depositary
or its nominee, or may remain in the custody of the Trustee or the Security Custodian therefor pursuant to a FAST Balance Certificate
Agreement or similar agreement between the Trustee and the Depositary. If a Company Order has been, or simultaneously is, delivered,
any instructions by the Company with respect to endorsement or delivery or redelivery of a Security in global form shall be in
writing but need not comply with Section 11.5 and need not be accompanied by an Opinion of Counsel.

 

Members of, or participants
in, the Depositary (“Agent Members”) shall have no rights under this Indenture with respect to any Global Security
held on their behalf by the Depositary, or the Trustee or the Security Custodian as its custodian, or under that Global Security,
and the Depositary may be treated by the Company, the Trustee or the Security Custodian and any agent of the Company, the Trustee
or the Security Custodian as the absolute owner of that Global Security for all purposes whatsoever. Notwithstanding the foregoing,
(i) the registered holder of a Global Security of any series may grant proxies and otherwise authorize any Person, including Agent
Members and Persons that may hold interests through Agent Members, to take any action that a Holder of Securities of that series
is entitled to take under this Indenture or the Securities of that series and (ii) nothing herein shall prevent the Company, the
Trustee or the Security Custodian or any agent of the Company, the Trustee, or the Security Custodian from giving effect to any
written certification, proxy or other authorization furnished by the Depositary or shall impair, as between the Depositary and
its Agent Members, the operation of customary practices governing the exercise of the rights of a beneficial owner of any Security.

 

    	 	17	 

     

    

 

Notwithstanding Section
2.8, and except as otherwise provided pursuant to Section 2.1, transfers of a Global Security shall be limited to transfers
of that Global Security in whole, but not in part, to the Depositary, its successors or their respective nominees. Interests of
beneficial owners in a Global Security may be transferred in accordance with the rules and procedures of the Depositary. Securities
of any series shall be transferred to all beneficial owners of a Global Security of that series in exchange for their beneficial
interests in that Global Security if, and only if, either (1) the Depositary notifies the Company that it is unwilling or unable
to continue as depositary for such Global Security or the Depositary ceases to be a clearing agency registered under the Exchange
Act, at a time when the Depositary is required to be so registered in order to act as depositary, and, in either case, a successor
depositary is not appointed by the Company within 90 days of such notice, (2) the Company, at its option, notifies the Trustee
in writing that it elects to cause the issuance of definitive Securities or (3) a Default or Event of Default has occurred and
is continuing with respect to the Securities.

 

In connection with
any transfer of a portion of the beneficial interests in a Global Security to beneficial owners pursuant to this Section 2.16,
the Registrar shall reflect on its books and records the date and a decrease in the principal amount of the Global Security in
an amount equal to the principal amount of the beneficial interest in the Global Security to be transferred, and the Company shall
execute and the Trustee on receipt of a Company Order for the authentication and delivery of Securities shall authenticate and
deliver, one or more Securities of the same series of like tenor and amount.

 

In connection with
the transfer of all the beneficial interests in a Global Security of any series to beneficial owners pursuant to this Section
2.16, the Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute,
and the Trustee shall authenticate and deliver, to each beneficial owner identified by the Depositary in exchange for its beneficial
interest in the Global Security, an equal aggregate principal amount of Securities of that series of authorized denominations.

 

Neither the Company,
nor the Trustee will have any responsibility or liability for any aspect of the records relating to, or payments made on account
of, Securities by the Depositary, or for maintaining, supervising or reviewing any records of the Depositary relating to those
Securities, or for any other actions taken or not taken by the Depositary. Neither the Company nor the Trustee shall be liable
for any delay by the related Global Security Holder or the Depositary in identifying the beneficial owners, and each such Person
may conclusively rely on, and shall be protected in conclusively relying on, instructions from that Global Security Holder or the
Depositary for all purposes (including with respect to the registration and delivery, and the respective principal amounts, of
the Securities to be issued).

 

The provisions of the
last sentence of the third paragraph of Section 2.4 shall apply to any Global Security if that Global Security was never
issued and sold by the Company and the Company delivers to the Trustee the Global Security together with written instructions (which
need not comply with Section 11.5 and need not be accompanied by an Opinion of Counsel) with regard to the cancellation
or reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by the
last sentence of the third paragraph of Section 2.4.

 

    	 	18	 

     

    

 

Notwithstanding the
provisions of Sections 2.3 and 2.12, unless otherwise specified as contemplated by Section 2.1 with respect
to Securities of any series, payment of principal of and premium (if any) and interest on and any Additional Amounts with respect
to any Global Security shall be made to the Person or Persons specified therein.

 

Section 2.17         CUSIP
Numbers, Etc. The Company in issuing the Securities of any series may use CUSIP numbers (if then generally in use) and, if
so, the Trustee shall use CUSIP, ISIN and Common Code numbers in notices of redemption as a convenience to Holders of Securities
of such series; provided, however, that any such notice may state that no representation is made as to the correctness
of such numbers either as printed on the Securities of such series or as contained in any notice of a redemption and that reliance
may be placed only on the other identification numbers printed on the Securities of such series, and any such redemption shall
not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee in writing of any
change in the CUSIP, ISIN and Common Code numbers.

 

Section 2.18         Original
Issue Discount. In determining whether the Holders of the required principal amount of outstanding Securities have concurred
in any direction, amendment, supplement, waiver or consent, unless otherwise provided as contemplated by Section 2.1 with
respect to the Securities of any series, the principal amount of an Original Issue Discount Security of such series shall be the
principal amount thereof that would be due and payable as of the date of that determination upon acceleration of the Maturity
thereof pursuant to Section 6.2.

 

ARTICLE
III

Covenants

 

Section 3.1           Payment
of Securities. The Company shall promptly pay to the Trustee no later than 10:00 a.m. (New York City time) one Business Day
prior to the applicable payment date the principal of, premium, if any, on, and interest and Additional Amounts, if any, on the
Securities in the manner provided in the Securities and in this Indenture. Principal, premium, if any, interest and Additional
Amounts, if any, shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds in accordance
with this Indenture immediately available funds sufficient to pay all principal, premium and interest and Additional Amounts,
if any, then due and the Trustee or Paying Agent, as the case may be, is not prohibited from paying money to the Holders on that
date pursuant to the terms of this Indenture.

 

The Company shall pay
interest on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on overdue installments
of interest at the same rate to the extent lawful.

 

Notwithstanding anything
to the contrary contained in this Indenture, the Company may, to the extent it is required to do so by law, deduct or withhold
income or other similar taxes imposed by the United States of America or any other jurisdiction from principal or interest payments
hereunder.

 

Section 3.2           Reports.
So long as the Securities of any series are outstanding, the Company shall:

  

    	 	19	 

     

    

 

(a)          furnish
to the Trustee, within 15 days after the Company files the same with the SEC, copies of the annual reports and of the information,
documents and other reports (or copies of such portions of any of the foregoing as the SEC may from time to time by rules and regulations
prescribe) that the Company files with the SEC pursuant to Section 13 or Section 15(d) of the Exchange Act; provided,
however, that any such information, document or report filed with the SEC pursuant to its Electronic Data Gathering, Analysis
and Retrieval (or EDGAR) system or any successor thereto shall be deemed to be filed with the Trustee; provided, however,
that the Trustee shall have no responsibility whatsoever to determine whether such filing has occurred; and

 

(b)          comply
with the other provisions of TIA § 314(a).

 

Provided that, the
delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt
of such shall not constitute constructive notice of any information contained therein or determinable from information contained
therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates).

 

Section 3.3           Maintenance
of Office or Agency. The Company will maintain in each Place of Payment an office or agency for any series of Securities where
such Securities may be presented or surrendered for payment, where, if applicable, the Securities of that series may be surrendered
for registration of transfer, exchange or conversion and where notices and demands to or upon the Company in respect of the Securities
of that series and this Indenture may be served. The Company shall give prompt written notice to the Trustee of any change in
the location of any such office or agency. If at any time the Company shall fail to maintain any such required office or agency
or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made
or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all
such presentations, surrenders, notices and demands.

 

The Company may also
from time to time designate one or more other offices or agencies (in or outside such Place of Payment) where the Securities of
one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind any such designation;
provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligations described
in the preceding paragraph. The Company shall give prompt written notice to the Trustee of any such designation or rescission and
any change in the location of any such other office or agency.

 

Section 3.4           Corporate
Existence. Subject to Article IV, the Company will do or cause to be done all things necessary to preserve and keep
in full force and effect its corporate existence. This Section 3.4 shall not prohibit or restrict the Company from converting
into a different form of legal entity.

 

Section 3.5           Compliance
Certificate. The Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company an
Officers’ Certificate, one of the signatories of which shall be the principal executive officer, the principal financial
officer or the principal accounting officer of the Company, stating that in the course of the performance by the signers of their
duties as Officers of the Company they would normally have knowledge of any Default or Event of Default and whether or not the
signers know of any Default or Event of Default that occurred during such period. If they do, the certificate shall describe the
Default or Event of Default, its status and what action the Company is taking or proposes to take with respect thereto. The Company
also shall comply with TIA § 314(a)(4).

 

    	 	20	 

     

    

 

Section 3.6           Statement
by Officers as to Default. So long as Securities of any series are outstanding, the Company shall deliver to the Trustee,
as soon as possible and in any event within 5 Business Days after the Company becomes aware of the occurrence of any Event of
Default or Default with respect to that series an Officers’ Certificate setting forth the details of such Event of Default
or Default and the action which the Company is taking or proposes to take in respect thereof.

 

Section 3.7           Calculation
of Original Issue Discount. If the Securities are issued with original issue discount, the Company shall file with the Trustee
promptly at the end of each calendar year (i) a written notice specifying the amount of original issue discount (including daily
rates and accrual periods) accrued on Outstanding Securities as of the end of such year and (ii) such other specific information
relating to such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time
to time.

 

ARTICLE
IV

Successors

 

Section 4.1           Merger,
Consolidation or Sale of Assets. The Company shall not consolidate or combine with or merge with or into or, directly or indirectly,
sell, assign (excluding any assignment solely as collateral for security purposes under a credit facility but not any outright
assignment upon the foreclosure of any such collateral), convey, lease, transfer or otherwise dispose of all or substantially
all of its assets to any Person or Persons in a single transaction or through a series of related transactions, unless:

 

(a)          the
Company shall be the successor or continuing Person or, if the Company is not the successor or continuing Person, the resulting,
surviving or transferee Person (the “Surviving Entity”) is a company organized and existing under the laws of
England and Wales, the United States or any State thereof or the District of Columbia that expressly assumes all of the Company’s
obligations under the Securities and this Indenture pursuant to a supplement hereto executed and delivered to the Trustee;

 

(b)          immediately
after giving effect to such transaction or series of related transactions, no Event of Default has occurred and is continuing;
and

 

(c)          the
Company or the Surviving Entity shall have delivered to the Trustee an Officers’ Certificate and Opinion of Counsel each
stating that the transaction or series of related transactions and any supplement hereto complies with the terms of this Indenture
and constitutes the legal, valid and binding obligation of the Company or the Surviving Entity, enforceable against it in accordance
with its terms.

 

    	 	21	 

     

    

 

If any consolidation
or merger or any sale, assignment, conveyance, lease, transfer or other disposition of all or substantially all of its assets occurs
in accordance with the terms hereof, the Surviving Entity shall succeed to, and be substituted for, and may exercise every right
and power of the Company under this Indenture with the same effect as if such Surviving Entity had been named as the Company. The
Company shall (except in the case of a lease) be discharged from all obligations and covenants under this Indenture and any Securities
issued hereunder, and may be liquidated and dissolved. Notwithstanding the above, any Subsidiary of the Company may consolidate
with, merge into or transfer all or part of its properties to the Company. Neither an Officer’s Certificate nor an Opinion
of Counsel shall be required to be delivered in connection therewith. The Company shall notify the Trustee if any consolidation
or merger or any sale, assignment, conveyance, lease, transfer or other disposition of all or substantially all of its assets occurs.

 

ARTICLE
V

Redemption of Securities

 

Section 5.1           Applicability
of Article. Redemption of Securities at the election of the Company or otherwise, as permitted or required by any provision
of this Indenture, shall be made in accordance with such provision and (except as otherwise provided as contemplated by Section
2.1 with respect to the Securities of any series) this Article V.

 

Section 5.2           Election
to Redeem; Notice to Trustee. In case of any redemption of any series of Securities at the election of the Company, the Company
shall notify the Trustee in writing at least 30 days prior to such Redemption Date (unless a shorter notice shall be satisfactory
to the Trustee) and of the principal amount of Securities to be redeemed and shall deliver to the Trustee such documentation and
records as shall enable the Trustee to select the Securities of such series to be redeemed pursuant to Section 5.3.

 

Section 5.3           Selection
by Trustee of Securities to Be Redeemed. If fewer than all of the Securities of any series are to be redeemed at any time,
the Trustee will, subject to applicable law, select Securities of any series for redemption as follows:

 

(a)          if
the Securities are listed on any national securities exchange, in compliance with the requirements of the principal national securities
exchange on which the Securities are listed; or

 

(b)          if
the Securities are not listed on any national securities exchange, in accordance with the procedures of DTC; or

 

(c)          if
the Securities are not listed on any national securities exchange or are not in the form of Global Securities, then the Securities
shall be selected by pro rata or lot.

 

Section 5.4           Notice
of Redemption. Notice of redemption shall be given in the manner provided for in Section 11.2 not less than 30 nor
more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed, except that redemption notices may
be given more than 60 days prior to a Redemption Date if such notice is issued in connection with a defeasance of the Securities
or a satisfaction and discharge of this Indenture. Notice of any redemption may, at the Company’s discretion, be subject
to one or more conditions precedent. The Trustee shall give notice of redemption in the Company’s name and at the Company’s
expense; provided, however, that the Company shall deliver to the Trustee, at least 45 days prior to the Redemption Date
(unless a shorter notice shall be satisfactory to the Trustee), an Officers’ Certificate requesting that the Trustee give
such notice at the Company’s expense and setting forth the information to be stated in such notice as provided in the following
items.

 

    	 	22	 

     

    

 

All notices of redemption
shall state:

 

(a)          the
Redemption Date;

 

(b)          the
Redemption Price and the amount of accrued interest and Additional Amounts, if any, to the Redemption Date payable as provided
in Section 5.6;

 

(c)          if
less than all outstanding Securities are to be redeemed, the identification of the particular Securities (or portion thereof) to
be redeemed, as well as the aggregate principal amount of Securities to be redeemed and the aggregate principal amount of Securities
to be outstanding after such partial redemption;

 

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

 

(e)          that
on the Redemption Date the Redemption Price (and accrued interest, if any, to the Redemption Date payable as provided in Section
5.6) will become due and payable upon each such Security, or the portion thereof, to be redeemed, and, unless the Company defaults
in making the redemption payment, that interest and Additional Amounts, if any, on Securities (or the portions thereof) called
for redemption will cease to accrue on and after said date;

 

(f)          the
place or places where such Securities are to be surrendered for payment of the Redemption Price and accrued interest, if any;

 

(g)          in
the case of a series of Securities that are convertible or exchangeable into the Company’s ordinary shares, depositary receipts
representing its ordinary shares, or other securities, cash or other property, the conversion or exchange price or rate, the date
or dates on which the right to convert or exchange the principal of such Securities to be redeemed will commence or terminate and
the place or places where such Securities may be surrendered for conversion or exchange;

 

(h)          the
name and address of the Paying Agent;

 

(i)          that
Securities called for redemption (other than a Global Security) must be surrendered to the Paying Agent to collect the Redemption
Price;

 

    	 	23	 

     

    

 

(j)          the
CUSIP, ISIN or Common Code number, and may state that no representation is made as to the accuracy or correctness of the CUSIP,
ISIN or Common Code number, if any, listed in such notice or printed on the Securities; and

 

(k)          the
section of this Indenture and the paragraph of the Securities pursuant to which the Securities are to be redeemed.

 

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

 

Section 5.5           Deposit
of Redemption Price. Not later than 10:00 a.m. (New York City time) on the Business Day prior to the Redemption Date, the
Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate
and hold in trust as provided in Section 2.6) an amount of money sufficient to pay the Redemption Price of, and accrued
interest and Additional Amounts, if any, on, all the Securities which are to be redeemed on that date.

 

Section 5.6           Securities
Payable on Redemption Date. Notice of redemption having been given as aforesaid, unless the notice of redemption is subject
to one or more conditions precedent which have not been satisfied, the Securities so to be redeemed shall, on the Redemption Date,
become due and payable at the Redemption Price therein specified (together with accrued and unpaid interest and Additional Amounts,
if any, to the Redemption Date), and from and after such date (unless the Company shall default in the payment of the Redemption
Price and accrued interest and Additional Amounts, if any) such Securities shall cease to bear interest and Additional Amounts,
if any. Upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the
Company at the Redemption Price, together with accrued and unpaid interest and Additional Amounts, if any, to the Redemption Date
(subject to the rights of Holders of record on the relevant record date to receive interest and Additional Amounts, if any, due
on an interest payment date that is on or prior to the Redemption Date).

 

If any Security called
for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid,
bear interest and Additional Amounts, if any, from the Redemption Date at the rate borne by the Securities.

 

Section 5.7           Securities
Redeemed in Part. Any Security which is to be redeemed only in part (pursuant to the provisions of this Article V)
shall be surrendered at the office or agency of the Company maintained for such purpose pursuant to Section 2.5 (with,
if the Company or the Trustee so require, due endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing), and
the Company shall execute, and the Trustee shall authenticate and make available for delivery to the Holder of such Security at
the expense of the Company, a new Security or Securities, of any authorized denomination as requested by such Holder, in an aggregate
principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered, provided
that each such new Security will be in a principal amount of $1,000 or integral multiple thereof. No Securities of $1,000 or less
may be redeemed in part.

 

    	 	24	 

     

    

 

ARTICLE
VI

Defaults and Remedies

 

Section 6.1           Events
of Default. Unless either inapplicable to a particular series or specifically deleted or modified in or pursuant to the supplemental
indenture, Board Resolution, Officers’ Certificate or Company Order establishing such series of Securities or in the form
of Security for such series, each of the following constitutes an “Event of Default,” wherever used herein
with respect to Securities of any series:

 

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

 

(b)          the
failure to pay the principal of or any premium on any Security of that series, when such principal becomes due and payable, at
maturity, upon redemption or otherwise;

 

(c)          a
default in the observance or performance of any other covenant or agreement contained in this Indenture applicable to the Securities
of that series or in the Securities of that series which default continues for a period of 60 days after the Company receives written
notice specifying the default (and demanding that such default be remedied) from the Trustee or the Holders of at least 25% of
the outstanding principal amount of the Securities of that series (except in the case of a default with respect to Section 4.1,
which will constitute an Event of Default with such notice requirement but without such passage of time requirement);

 

(d)          one
or more judgments in an aggregate amount in excess of $25.0 million shall have been rendered against the Company or any of its
Significant Subsidiaries and such judgments remain undischarged, unpaid or unstayed for a period of 60 days after such judgment
or judgments became final and non-appealable;

 

(e)          the
Company, under any applicable federal, state or foreign bankruptcy, insolvency or similar law:

 

(i)          commences
a voluntary case,

 

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

 

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

 

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

 

(v)         admits
in writing its inability to pay its debts as they become due; or

 

    	 	25	 

     

    

 

(f)          a
court of competent jurisdiction enters an order or decree under any applicable federal, state or foreign bankruptcy, insolvency
or similar law that:

 

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

 

(ii)         appoints
a custodian or receiver of the Company or for all or substantially all of the Company’s property;

 

(iii)        orders
the liquidation of the Company; and the order or decree remains unstayed and in effect for 60 consecutive days; or

 

(g)          any
other Event of Default provided in or pursuant to this Indenture with respect to Securities of that series.

 

Section 6.2           Acceleration.
Except as otherwise provided as contemplated by Section 2.1 with respect to the Securities of such series, if any Event
of Default with respect to any Securities of such series at the time outstanding (other than those of the type described in clause
(e) or (f) of Section 6.1) occurs and is continuing, the Trustee may, and at the written direction of the Holders
of at least 25% in aggregate principal amount of outstanding Securities of such series may, declare the principal of all the Securities
of that series, together with all accrued and unpaid interest and Additional Amounts, if any, and premium, if any, to be due and
payable immediately by notice in writing to the Company and the Trustee specifying the respective Event of Default and that such
notice is a notice of acceleration, and the same shall become immediately due and payable.

 

Except as otherwise
provided as contemplated by Section 2.1 with respect to the Securities of any series, in the case of an Event of Default
with respect to such series specified in clause (e) or (f) of Section 6.1 hereof, all outstanding Securities
of such series shall become due and payable immediately without further action or notice by the Trustee or the Holders. Holders
may not enforce this Indenture or the Securities except as provided in this Indenture.

 

Except as otherwise
provided as contemplated by Section 2.1 with respect to the Securities of any series, at any time after a declaration of
acceleration with respect to the Securities of such series, the Holders of a majority in principal amount of the Securities of
that series then outstanding (by written notice to the Trustee) may, on behalf of the Holders of all the Securities of that series,
rescind and cancel such declaration and its consequences if:

 

(a)          the
rescission would not conflict with any judgment or decree of a court of competent jurisdiction;

 

(b)          all
existing Defaults and Events of Default with respect to Securities of that series have been cured or waived except nonpayment of
principal of or interest on the Securities of that series that has become due solely by reason of such declaration of acceleration;

 

(c)          to
the extent the payment of such interest is lawful, interest (at the same rate specified in the Securities of such series) on overdue
installments of interest and Additional Amounts, if any, and overdue payments of principal which has become due otherwise than
by such declaration of acceleration has been paid;

 

    	 	26	 

     

    

 

(d)          the
Company has paid the Trustee its compensation and reimbursed the Trustee for its expenses, disbursements and advances; and

 

(e)          in
the event of the cure or waiver of an Event of Default of the type described in clause (e) or

 

(f)          of
Section 6.1, the Trustee has received an Officers’ Certificate and Opinion of Counsel that such Event of Default has
been cured or waived.

 

Section 6.3           Other
Remedies. If an Event of Default with respect to any series occurs and is continuing, the Trustee may pursue any available
remedy to collect the payment of principal of (or premium, if any) or interest or Additional Amounts, if any, on the Securities
of such series or to enforce the performance of any provision of the Securities of such series or this Indenture with respect
to such series.

 

The Trustee may maintain
a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A delay or omission
by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available
remedies are cumulative.

 

Section 6.4           Waiver
of Past Defaults. Except as otherwise provided as contemplated by Section 2.1 with respect to the Securities of any
series, the Holders of a majority in principal amount of the then outstanding Securities of such series by written notice to the
Trustee may, on behalf of the Holders of all the Securities of such series, (a) waive, by their consent (including, without limitation
consents obtained in connection with a purchase of, or tender offer or exchange offer for, Securities of such series), an existing
Default or Event of Default, with respect to such series and its consequences or compliance with any provisions except (i) a Default
or Event of Default in the payment of the principal of, or premium, if any, or interest or Additional Amounts, if any, on a Security
of such series or (ii) a Default or Event of Default in respect of a provision that under Section 9.2 cannot be amended
without the consent of each Holder affected and (b) rescind any such acceleration with respect to the Securities of such series
and its consequences if rescission would not conflict with any judgment or decree of a court of competent jurisdiction. When a
Default or Event of Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default
or Event of Default or impair any consequent right.

 

Section 6.5           Control
by Majority. With respect to Securities of any series, the Holders of a majority in principal amount of the outstanding Securities
of such series may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of
exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts
with law or this Indenture or, subject to Sections 7.1 and 7.2, that the Trustee determines is unduly prejudicial
to the rights of the other Holders or would involve the Trustee in personal liability. Prior to taking any action hereunder, the
Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused
by taking or not taking such action.

 

    	 	27	 

     

    

 

Section 6.6           Limitation
on Suits. Subject to Section 6.7, a Holder of a Security of any series may not pursue any remedy with respect to this
Indenture or the Securities of such series unless:

 

(a)          such
Holder has previously given to the Trustee written notice stating that an Event of Default is continuing with respect to such series;

 

(b)          Holders
of at least 25% in aggregate principal amount of the outstanding Securities of such series have requested in writing that the Trustee
pursue the remedy;

 

(c)          such
Holders have offered to the Trustee security or indemnity satisfactory to it against any loss, liability or expense;

 

(d)          the
Trustee has not complied with such request within 60 days after receipt of the request and the offer of security or indemnity;
and

 

(e)          the
Holders of a majority in principal amount of the outstanding Securities of such series have not given the Trustee a direction that,
in the opinion of the Trustee, is inconsistent with such request within such 60-day period.

 

A Holder may not use
this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder (it being understood
that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial
to such Holders).

 

Section 6.7           Rights
of Holders to Receive Payment. Notwithstanding any other provision of this Indenture (including, without limitation, Section
6.6), the right of any Holder to receive payment of principal of, premium (if any) or interest or Additional Amounts, if any,
when due on the Securities held by such Holder, on or after the respective due dates expressed in the Securities, or to bring
suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the
consent of such Holder.

 

Section 6.8           Collection
Suit by Trustee. If an Event of Default specified in clauses (a) or (b) of Section 6.1 occurs and is
continuing with respect to Securities of any series, the Trustee may recover judgment in its own name and as trustee of an express
trust against the Company for the whole amount then due and owing (together with interest on any unpaid interest to the extent
lawful) with respect to such series and the amounts provided for in Section 7.7.

 

    	 	28	 

     

    

 

Section 6.9           Trustee
May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable
in order to have the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Company, its Subsidiaries
or its or their respective creditors or properties and, unless prohibited by law or applicable regulations, may vote on behalf
of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any
such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee
shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the compensation,
expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section
7.7. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.7 hereof out of the estate in any such proceeding, shall
be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions,
dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation
or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee
to authorize or consent to or accept on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Securities or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder
in any such proceeding.

 

Section 6.10         Priorities.
If the Trustee collects any money or property pursuant to this Article VI, it shall pay out the money or property in
the following order:

 

FIRST: to the
Trustee and its counsel for amounts due under this Indenture, including payment of all compensation, expenses and liabilities incurred,
and all advances made, by the Trustee and the costs and expenses of collection;

 

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

 

THIRD: to the
Company or to such other party as a court of competent jurisdiction may direct.

 

The Trustee may fix
a record date and payment date for any payment to Holders pursuant to this Section 6.10. At least 15 days before such record
date, the Company shall mail to each Holder and the Trustee a notice that states the record date, the payment date and amount to
be paid.

 

Section 6.11         Undertaking
for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee
for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the
suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable
attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of
the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by
the Company, a suit by a Holder pursuant to Section 6.7 or a suit by Holders of more than 10% in outstanding principal
amount of the Securities of any series.

 

    	 	29	 

     

    

  

ARTICLE
VII

Trustee

 

Section 7.1           Duties
of Trustee. (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested
in it by this Indenture and use the same degree of care and skill in their exercise as a prudent Person would exercise or use
under the circumstances in the conduct of such Person’s own affairs; provided that if an Event of Default occurs and is
continuing, the Trustee will be under no obligation to exercise the rights or powers under this Indenture at the request or direction
of any of the Holders unless such Holders have offered to the Trustee indemnity or security against loss, liability or expense
satisfactory to the Trustee in its sole discretion.

 

(a)          Except
during the continuance of an Event of Default with respect to the Securities of any series:

 

(i)          the
Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and the Trustee
need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations
shall be read into this Indenture against the Trustee; and

 

(ii)         in
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates, opinions, reports or orders furnished to the Trustee and conforming to the
requirements of this Indenture. However, in the case of any such certificates or opinions which by any provisions hereof are specifically
required to be furnished to the Trustee, the Trustee shall examine such certificates and opinions to determine whether or not they
conform on their face to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations
or other facts stated therein).

 

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

 

(i)          this
paragraph does not limit the effect of paragraph (b) of this Section 7.1;

 

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

 

(iii)        the
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received
by it pursuant to Section 6.5.

 

(c)          Every
provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section
7.1.

 

(d)          The
Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.

 

(e)          Money
held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

 

    	 	30	 

     

    

 

(f)          No
provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in
the performance of any of its duties hereunder or in the exercise of any of its rights or powers.

 

(g)          Every
provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall
be subject to the provisions of this Section 7.1 and to the provisions of the TIA.

 

(h)          Unless
otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company shall be sufficient
if signed by an Officer of the Company.

 

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

 

(j)          To
the extent required by applicable law, the Company and each Holder shall supply the Trustee or any Paying Agent such information
that the Trustee or such Paying Agent may request to determine the nature of the income and whether any tax or withholding obligations
apply.

 

(k)          The
Trustee or any Paying Agent may withhold (without loss, liability or expense) from any payments to the Holders to the extent required
to comply with applicable law to the extent not already done so by the Company pursuant to Section 3.1 or otherwise.

 

Section 7.2           Rights
of Trustee. Subject to Section 7.1:

 

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

 

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

 

(c)          The
Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any agent appointed
with due care.

 

(d)          The
Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within
the rights or powers conferred upon it by this Indenture.

 

(e)          The
Trustee may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal matters relating
to this Indenture and the Securities shall be full and complete authorization and protection from liability in respect of any action
taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel.

 

    	 	31	 

     

    

 

(f)          The
Trustee is not required to make any inquiry or investigation into facts or matters stated in any document but the Trustee, in its
discretion, may make such further inquiry or investigation into such facts or matters as it may see fit and, if the Trustee determines
to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company personally
or by agent, in which case the Company shall be responsible for the reasonable expenses of such investigation.

 

(g)          The
Trustee is not required to take notice and shall not be deemed to have notice of any Default or Event of Default hereunder with
respect to any series of Securities, unless a Trust Officer of the Trustee has received notice in writing of such Default or Event
of Default from the Company or the Holders of at least 25% in aggregate principal amount of the Securities of such series then
outstanding and such notice references the Securities and this Indenture, and in the absence of any such notice, the Trustee may
conclusively assume that no such Default or Event of Default exists.

 

(h)          The
Trustee is not required to give any bond or surety with respect to the performance of its duties or the exercise of its powers
under this Indenture.

 

(i)          In
the event the Trustee receives inconsistent or conflicting requests and indemnity from two or more groups of Holders of Securities,
each representing less than the aggregate principal amount of Securities outstanding required to take any action thereunder, the
Trustee, in its sole discretion may determine what action, if any, shall be taken or take no action.

 

(j)          The
Trustee’s immunities and protections from liability and its right to indemnification in connection with the performance of
its duties under this Indenture shall extend to the Trustee’s officers, directors, agents, attorneys and employees and to
the Trustee in each of its capacities hereunder. Such immunities and protections and right to indemnification, together with the
Trustee’s right to compensation, shall survive the Trustee’s resignation or removal, the discharge of this Indenture
and final payments of the Securities.

 

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

 

(l)          The
Trustee shall have no duty to inquire as to the performance of the Company’s covenants herein.

 

(m)          Any
request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and
any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution.

 

(n)          In
no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action.

 

    	 	32	 

     

    

 

(o)          The
Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to this Indenture.

 

Section 7.3           Individual
Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may
otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent,
Registrar, co-registrar or co-paying agent may do the same with like rights. However, the Trustee must comply with Sections
7.10 and 7.11.

 

Section 7.4           Trustee’s
Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture
or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, and it shall not
be responsible for any statement of the Company in this Indenture or in any document issued in connection with the sale of the
Securities or in the Securities other than the Trustee’s certificate of authentication.

 

Section 7.5           Notice
of Defaults. If a Default or Event of Default with respect to the Securities of any series occurs and is continuing and if
a Trust Officer has received written notification thereof, the Trustee shall deliver to each Holder of a Security of such series
notice of the Default or Event of Default within the later of 30 days after obtaining such knowledge and 90 days after it occurs,
unless the Default was already cured or waived. Except in the case of a Default or Event of Default in payment of principal of,
premium, if any, or interest or Additional Amounts, if any, on any Security of any series, the Trustee may withhold the notice
if it in good faith determines that withholding the notice is in the interests of Holders of such series.

 

Section 7.6           Reports
by Trustee to Holders. Within 60 days after each May 15 beginning with the May 15 following the date of this Indenture and
for so long as the Securities of any series remain outstanding, the Trustee shall mail to each Holder of Securities of such series
a brief report dated as of such reporting date that complies with TIA § 313 (a). The Trustee also shall comply with TIA §
313(b). The Trustee shall also transmit by mail all reports required by TIA § 313(c).

 

A copy of each report
at the time of its mailing to Holders of Securities of any series shall be filed with the SEC and each stock exchange (if any)
on which the Securities of such series are listed. The Company agrees to notify promptly the Trustee in writing whenever the Securities
of any series become listed on any stock exchange and of any delisting thereof.

 

    	 	33	 

     

    

 

Section 7.7           Compensation
and Indemnity. The Company shall pay to the Trustee from time to time such compensation for its acceptance of this Indenture
and services hereunder as the Company and the Trustee shall from time to time agree in writing. The Trustee’s compensation
shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon
request for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, costs of preparing and
reviewing reports, certificates and other documents, costs of mailing of notices to Holders, in addition to the compensation for
its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s
agents, counsel, accountants and experts. The Company shall indemnify the Trustee against any and all losses, liabilities, damages,
claims, charges, penalties, fines or expenses (including reasonable attorneys’ and agents’ fees and expenses) (for
purposes of this Section 7.7, “losses”) incurred by it in connection with the administration of this
trust and the performance of its duties hereunder, including the costs and expenses of enforcing this Indenture (including this
Section 7.7) and of defending itself against any claims (whether asserted by any Holder, the Company or otherwise), except
to the extent such losses may be attributable to its gross negligence or willful misconduct as determined by a court of competent
jurisdiction. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee
to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim and the
Trustee shall provide reasonable cooperation at the Company’s expense in the defense. The Trustee may have separate counsel
and the Company shall pay the reasonable fees and expenses of such counsel provided that the Company shall not be required to
pay such fees and expenses if it assumes the Trustee’s defense, and, in the reasonable judgment of outside counsel to the
Trustee, there is no conflict of interest between the Company and the Trustee in connection with such defense. The Company shall
not be under any obligation to pay for any written settlement without its consent, which consent shall not be unreasonably delayed,
conditioned or withheld. The Company need not reimburse any expense incurred by the Trustee through the Trustee’s own willful
misconduct or gross negligence.

 

To secure the Company’s
payment obligations in this Section 7.7, the Trustee shall have a lien prior to the Securities on all money or property
held or collected by the Trustee other than money or property held in trust to pay principal of, interest and Additional Amounts,
if any, on particular Securities.

 

The Company’s
payment obligations pursuant to this Section 7.7 shall survive the discharge of this Indenture, the resignation or removal
of the Trustee and payment in full of the Securities. When the Trustee incurs expenses after the occurrence of a Default specified
in clauses (e) or (f) of Section 6.1 with respect to the Company, the expenses are intended to constitute
expenses of administration under any applicable federal, state or foreign bankruptcy, insolvency or similar law.

 

Section 7.8           Replacement
of Trustee. The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount
of the then outstanding Securities of any series may remove the Trustee with respect to the Securities of such series by so notifying
the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if:

 

(a)          the
Trustee fails to comply with Section 7.10;

 

(b)          the
Trustee is adjudged bankrupt or insolvent;

 

(c)          a
receiver or other public officer takes charge of the Trustee or its property; or

 

(d)          the
Trustee otherwise becomes incapable of acting.

 

    	 	34	 

     

    

 

If the Trustee resigns
or is removed by the Company or by the Holders of a majority in principal amount of the then outstanding Securities of any series
and such Holders of such series do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of
the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly
appoint a successor Trustee with respect to such series.

 

If a successor Trustee
with respect to Securities of any series does not take office within 30 days after the retiring Trustee resigns or is removed,
the retiring Trustee or the Holders of at least 10% in principal amount of the then outstanding Securities of such series may petition,
at the Company’s expense, any court of competent jurisdiction for the appointment of a successor Trustee with respect to
Securities of such series.

 

If the Trustee with
respect to the Securities of a series fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed
as provided in TIA § 310(b), any Holder who has been a bona fide Holder of a Security of such series for at least six months
may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee with
respect to such series.

 

In case of the appointment
of a successor Trustee with respect to all Securities, each such successor Trustee shall deliver a written acceptance of its appointment
to the retiring Trustee, to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and
the successor Trustee shall have all the rights, power and duties of the retiring Trustee under this Indenture. The successor Trustee
shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee
to the successor Trustee, subject to the lien provided for in Section 7.7.

 

In case of the appointment
of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and
each successor Trustee with respect to the Securities of one or more (but not all) series shall execute and deliver an indenture
supplemental hereto in which each successor Trustee shall accept such appointment and that (1) shall confer to each successor Trustee
all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment
of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall confirm that
all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series as to which the
retiring Trustee is not retiring shall continue to be vested in the retiring Trustee and (3) shall add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee. Nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust,
and each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered
by any other such Trustee. Upon the execution and delivery of such supplemental indenture, the resignation or removal of the retiring
Trustee shall become effective to the extent provided therein and each such successor Trustee shall have all the rights, powers
and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor
Trustee relates. On request of the Company or any successor Trustee, such retiring Trustee shall transfer to such successor Trustee
all property held by such retiring Trustee as Trustee with respect to the Securities of that or those series to which the appointment
of such successor Trustee relates. Such retiring Trustees shall, however, have the right to deduct its unpaid fees and expenses,
including, without limitation, reasonable attorneys’ fees and expenses.

 

    	 	35	 

     

    

 

Notwithstanding the
replacement of the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 shall
continue for the benefit of the retiring Trustee.

 

So long as no Event
of Default, or no event which is, or after notice or lapse of time, or both, would become, an Event of Default, shall have occurred
and be continuing, and except with respect to a Trustee appointed by the act of the Holders of a majority in principal amount of
then outstanding Securities of any series, if the Company shall have delivered to the Trustee (1) a Board Resolution appointing
a successor Trustee, effective as of a date specified therein, and (2) an instrument of acceptance of such appointment, effective
as of such date, by such successor Trustee, then the Trustee shall be deemed removed, the successor Trustee shall be deemed to
have been appointed by the Company and such appointment shall be deemed to have been accepted as contemplated, all as of such date,
and all other provisions of this Section 7.8 shall be applicable to such removal, appointment and acceptance except to the
extent inconsistent with this subsection.

 

Section 7.9           Successor
Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate
trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without
any further act shall be the successor Trustee. The predecessor Trustee shall have no liability for any action or inaction by
any successor Trustee.

 

In case at the time
such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by this
Indenture, any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the
certificate of authentication of any predecessor trustee, and deliver such Securities so authenticated; and in case at that time
any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in
the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall
have the full force which it is anywhere in the Securities or in this Indenture.

 

Section 7.10         Eligibility;
Disqualification. The Trustee shall at all times satisfy the requirements of TIA § 310(a). The Trustee shall have a combined
capital and surplus of at least $50.0 million as set forth in its most recent published annual report of condition. The Trustee
shall comply with TIA § 310(b); provided, however, that there shall be excluded from the operation of TIA § 310(b)(1)
any indenture or indentures under which other securities or certificates of interest or participation in other securities of the
Company are outstanding if the requirements for such exclusion set forth in TIA § 310(b)(1) are met.

 

Section 7.11         Preferential
Collection of Claims Against Company. The Trustee shall comply with TIA § 311 (a), excluding any creditor relationship
listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated
in such Section.

 

    	 	36	 

     

    

 

ARTICLE
VIII

Legal Defeasance and Covenant Defeasance

 

Section 8.1           Option
to Effect Legal Defeasance or Covenant Defeasance. Unless otherwise designated pursuant to Section 2.1(o), the Securities
of any series shall be subject to defeasance or covenant defeasance pursuant to Section 8.2 or 8.3, in accordance
with any applicable requirements provided pursuant to Section 2.1 and upon compliance with the conditions set forth in
this Article VIII. The Company may, at its option and at any time, elect to have either Section 8.2 or 8.3
hereof be applied to all outstanding Securities of any series so subject to defeasance or covenant defeasance. Any such election
shall be evidenced by a Board Resolution of the Company or in another manner specified as contemplated by Section 2.1 for
such Securities.

 

Section 8.2           Legal
Defeasance and Discharge. Upon the Company’s exercise under Section 8.1 hereof of the option applicable to this
Section 8.2 with respect to Securities of any series, the Company shall, subject to the satisfaction of the conditions
set forth in Section 8.4 hereof, be deemed to have been discharged from its Obligations with respect to all outstanding
Securities of such series on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”).
For this purpose, Legal Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness
represented by the outstanding Securities with respect to such series, which shall thereafter be deemed to be “outstanding”
only for the purposes of Section 8.5 hereof and the other Sections of this Indenture referred to in clauses (a)
through (e) below, and to have satisfied all its other obligations under the Securities with respect to such series and
this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging
the same), except for the following provisions which shall survive until otherwise terminated or discharged hereunder: (a) the
rights of Holders of outstanding Securities with respect to such series to receive, solely from the trust fund described in Sections
8.4 and 8.5 hereof, and as more fully set forth in such Section, payments in respect of the principal of, premium,
if any, and interest and Additional Amounts, if any, on such Securities when such payments are due, (b) the Company’s Obligations
with respect to such Securities under Article II and Sections 3.1 hereof, (c) the rights, powers, trusts, duties
and immunities of the Trustee hereunder and the Company’s obligations in connection therewith, (d) the optional redemption
provisions, if any, with respect to such Securities, and (e) this Article VIII. If the Company exercises under Section
8.1 hereof the option applicable to this Section 8.2, subject to the satisfaction of the conditions set forth in Section
8.4 hereof, payment of the Securities with respect to such series may not be accelerated because of an Event of Default. Subject
to compliance with this Article VIII, the Company may exercise its option under this Section 8.2 notwithstanding
the prior exercise of its option under Section 8.3 hereof.

 

Section 8.3           Covenant
Defeasance. Upon the Company’s exercise under Section 8.1 hereof of the option applicable to this Section
8.3 with respect to Securities of any series, the Company shall, with respect to such series of Securities, subject to the
satisfaction of the conditions set forth in Section 8.4 hereof, be released from its obligations under the covenants contained
in Sections 3.2 and 3.3, with respect to the outstanding Securities of such series on and after the date the conditions
set forth in Section 8.4 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Securities
of such series shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent
or declaration or act of Holders of such series (and the consequences of any thereof) in connection with such covenants, but shall
continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Securities
shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the
outstanding Securities of such series, the Company may omit to comply with and shall have no liability in respect of any term,
condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein
to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document
and such omission to comply shall not constitute a Default or an Event of Default under Section 6.1 hereof, but, except
as specified above, the remainder of this Indenture and such Securities shall be unaffected thereby. If the Company exercises
under Section 8.1 hereof the option applicable to this Section 8.3, subject to the satisfaction of the conditions
set forth in Section 8.4 hereof, payment of the Securities of such series may not be accelerated because of an Event of
Default specified in clauses (c) (with respect to Sections 3.2 and 3.3), (e) and (f) of such Section 6.1.

 

    	 	37	 

     

    

 

Section 8.4           Conditions
to Legal or Covenant Defeasance. The following shall be the conditions to the application of either Section 8.2 or
8.3 hereof to the outstanding Securities of any series.

 

In order to exercise
Legal Defeasance or Covenant Defeasance with respect to the Securities of any series:

 

(a)          the
Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of the Securities of such series, cash
in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars, and non-callable Government Securities,
in amounts as will be sufficient, in the written opinion of a nationally recognized investment bank, appraisal firm or firm of
independent public accountants, to pay the principal of, and interest and Additional Amounts, if any, and premium, if any, on the
outstanding Securities of such series on the stated date for payment or on the applicable Redemption Date, as the case may be,
and the Company must specify whether the Securities of such series are being defeased to such stated date for payment or to a particular
Redemption Date;

 

(b)          in
the case of Legal Defeasance, the Company must deliver to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
confirming that: (a) the Company has received from, or there has been published by, the Internal Revenue Service a ruling; or (b)
since the date of this Indenture, there has been a change in the applicable federal income tax law, in either case to the effect
that, and based thereon such Opinion of Counsel will confirm that, the Holders of the outstanding Securities of such series will
not recognize income, gain or loss for federal income tax law purposes as a result of such Legal Defeasance and shall be subject
to federal income tax law in the same amounts, in the same manner and at the same times as would have been the case if such Legal
Defeasance had not occurred;

 

(c)          in
the case of Covenant Defeasance, the Company must deliver to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
confirming that Holders of the outstanding Securities of such series shall not recognize income, gain or loss for federal income
tax law purposes as a result of such Covenant Defeasance and shall be subject to federal income tax in the same amounts, in the
same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

 

    	 	38	 

     

    

 

(d)          no
Default or Event of Default has occurred and be continuing with respect to the Securities of such series on the date of such deposit
(other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit);

 

(e)          such
Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material
agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by which the
Company or any of its Subsidiaries is bound;

 

(f)          the
Company must deliver to the Trustee an Officers’ Certificate stating that such deposit was not made by the Company with the
intent of preferring the Holders of Securities of such series over the other creditors of the Company with the intent of defeating,
hindering, delaying or defrauding creditors of the Company or others; and

 

(g)          the
Company must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with.

 

Section 8.5           Deposited
Cash and Government Securities to be Held in Trust; Other Miscellaneous Provisions. Subject to Section 8.6 hereof,
all cash and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying
trustee), collectively for purposes of this Section 8.5, the “Trustee”) pursuant to Section 8.4
hereof in respect of the outstanding Securities of such series shall be held in trust and applied by the Trustee, in accordance
with the provisions of such Securities of such series and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of Securities of such series
of all sums due and to become due thereon in respect of principal, premium, if any, interest and Additional Amounts, if any, but
such cash and securities need not be segregated from other funds except to the extent required by law.

 

The Company shall pay
and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government
Securities deposited pursuant to Section 8.4 hereof or the principal and interest received in respect thereof other than
any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Securities of such series.

 

Anything in this Article
VIII to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon the request of
the Company any cash or non-callable Government Securities held by it as provided in Section 8.4 hereof which, in the opinion
of a nationally recognized independent registered public accounting firm expressed in a written certification thereof delivered
to the Trustee (which may be the certification delivered under clause (a) of Section 8.4 hereof), are in excess of
the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

 

    	 	39	 

     

    

 

Section 8.6           Repayment
to Company. Any cash or non-callable Government Securities deposited with the Trustee or any Paying Agent, or then held by
the Company, in trust for the payment of the principal of, premium, if any, on, or interest or Additional Amounts, if any, on,
any Security of any series and remaining unclaimed for one year after such principal, premium, if any, or interest or Additional
Amounts, if any, has become due and payable shall be paid to the Company on its request (unless an abandoned property law designates
another Person) or (if then held by the Company) shall be discharged from such trust; and such Holder shall thereafter, as an
unsecured creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect
to such cash and securities, and all liability of the Company as Trustee thereof, shall thereupon cease.

 

Section 8.7           Reinstatement.
If the Trustee or Paying Agent is unable to apply any cash or non-callable Government Securities in accordance with Section
8.2, 8.3 or 8.5 hereof, as the case may be, by reason of any order or judgment of any court or governmental
authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture
and the Securities of such series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.4
hereof until such time as the Trustee or Paying Agent is permitted to apply all such cash and securities in accordance with
Section 8.2, 8.3 or 8.5 hereof, as the case may be; provided, however, that, if the Company makes
any payment of principal of, premium, if any, on, or interest or Additional Amounts, if any, on, any Security of such series following
the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such series to receive such
payment from the cash and securities held by the Trustee or Paying Agent.

 

ARTICLE
IX

Amendments

 

Section 9.1           Without
Consent of Holders. Except as otherwise provided as contemplated by Section 2.1 with respect to the Securities of any
series, the Company and the Trustee may amend or supplement this Indenture or the Securities without notice to or consent of any
Holder:

 

(a)          to
cure any ambiguity, defect or inconsistency;

 

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

 

(c)          to
establish the form or terms of Securities of any series as permitted by Section 2.1;

 

(d)          to
provide for the assumption of the Company’s obligations to Holders of Securities of any series in the case of a merger or
consolidation or sale of all or substantially all of the Company’s properties or assets, as applicable;

 

(e)          to
comply with requirements of the SEC in order to maintain the qualification of this Indenture under the Trust Indenture Act;

 

    	 	40	 

     

    

 

(f)          to
make any change that would provide any additional rights or benefits to the Holders of Securities of any series or that does not
materially adversely affect the legal rights under this Indenture of any such Holder;

 

(g)          to
add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are
to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for
the benefit of such series), or to surrender any right or power herein conferred upon the Company;

 

(h)          to
add any additional Events of Default with respect to all or any series of the Securities (and, if any such Event of Default is
applicable to less than all series of Securities, specifying the series to which such Event of Default is applicable);

 

(i)          to
change or eliminate any of the provisions of this Indenture; provided that any such change or elimination shall become effective
only when there is no outstanding Security of any series created prior to the execution of such amendment or supplemental indenture
that is adversely affected in any material respect by such change in or elimination of such provision;

 

(j)          to
supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance
and discharge of any series of Securities pursuant to Section 8.1; provided, however, that any such action shall
not adversely affect the interest of the Holders of Securities of such series or any other series of Securities in any material
respect;

 

(k)          to
secure the Securities of any series;

 

(l)          to
evidence and provide for the acceptance under this Indenture of a successor trustee; or

 

(m)          to
conform the text of this Indenture or any Securities to the description thereof in any prospectus or prospectus supplement of the
Company with respect to the offer and sale of Securities of any series, to the extent that such provision is inconsistent with
a provision of this Indenture or the Securities, as provided in an Officers’ Certificate.

 

After an amendment
under this Indenture becomes effective, the Company is required to mail to the Holders of each Security affected thereby a notice
briefly describing such amendment. However, the failure to give such notice to all the Holders of each Security affected thereof,
or any defect therein, will not impair or affect the validity of the amendment or supplemental indenture under this Section
9.1.

 

Section 9.2           With
Consent of Holders. Except as otherwise provided as contemplated by Section 2.1 with respect to the Securities of any
series, except as provided below in this Section 9.2, the Company, and the Trustee may amend or supplement this Indenture
with the consent (including consents obtained in connection with a purchase of, or a tender offer or exchange offer for, Securities)
of the Holders of a majority in principal amount of the then outstanding Securities of each series affected by such amendment
or supplement (acting as separate classes).

 

    	 	41	 

     

    

 

Upon the request of
the Company, accompanied by a Board Resolution, and upon the filing with the Trustee of evidence of the consent of the Holders
as aforesaid, and upon receipt by the Trustee of the documents described in Section 9.5, the Trustee shall, subject to Section
9.6, join with the Company in the execution of such amendment or supplemental indenture.

 

Except as otherwise
provided as contemplated by Section 2.1 with respect to the Securities of any series, the Holders of a majority in principal
amount of the then outstanding Securities of one or more series or of all series affected by such waiver (acting as separate classes)
may waive compliance in a particular instance by the Company with any provision of this Indenture with respect to Securities of
such series (including waivers obtained in connection with a purchase of, or a tender offer or exchange offer for, Securities of
such series).

 

However, except as
otherwise provided as contemplated by Section 2.1 with respect to the Securities of any series, without the consent of each
Holder affected, an amendment, supplement or waiver may not (with respect to any Securities held by a non-consenting Holder):

 

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

 

(b)          reduce
the principal of or change the fixed maturity of any Security or alter the provisions with respect to the redemption or repurchase
of the Securities;

 

(c)          reduce
the rate of or change the time for payment of interest, including default interest on any Security;

 

(d)          waive
a Default or Event of Default in the payment of principal of, or interest or premium, or Additional Amounts, if any, on the Securities
(except a rescission of acceleration of the Securities by the Holders of at least a majority in aggregate principal amount of the
then outstanding Securities and a waiver of the payment default that resulted from such acceleration);

 

(e)          change
the Place of Payment;

 

(f)          make
any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders of Securities to receive
payments of principal of, or interest or premium, if any, on the Securities (other than as permitted in clause (g) below);

 

(g)          waive
a redemption payment with respect to any Security;

 

(h)          make
any change that adversely affects any right of a Holder to convert or exchange any Security into or for shares of the Company’s
ordinary shares, depositary receipts representing its ordinary shares, or other securities, cash or other property in accordance
with the terms of such Security;

 

(i)          impair
the right of a Holder of Securities to institute suit for the enforcement of any payment on the Securities; or

 

    	 	42	 

     

    

 

(j)          make
any change in the preceding amendment, supplement and waiver provisions.

 

It shall not be necessary
for the consent of the Holders under this Section 9.2 to approve the particular form of any proposed amendment, but it shall
be sufficient if such consent approves the substance of the proposed amendment.

 

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

 

A consent to any amendment
or waiver under this Indenture by any Holder of the Securities given in connection with a tender of such Holder’s Securities
will not be rendered invalid by such tender. After an amendment under this Section becomes effective, the Company shall promptly
mail to Holders of each Security affected thereby a notice briefly describing such amendment. The failure to give such notice to
all Holders of each Security affected thereby, or any defect therein, shall not impair or affect the validity of an amendment,
supplemental indenture or waiver under this Section 9.2.

 

Section 9.3           Compliance
with Trust Indenture Act. Every amendment or supplement to this Indenture or the Securities shall comply with the Trust Indenture
Act of 1939 as then in effect.

 

Section 9.4           Revocation
and Effect of Consents and Waivers. A consent to an amendment or a waiver by a Holder of a Security shall be in writing and
bind the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting
Holder’s Security, even if notation of the consent or waiver is not made on the Security. However, any such Holder or subsequent
Holder may revoke the consent or waiver as to such Holder’s Security or portion of the Security if the Trustee receives
the notice of revocation before the date the amendment or waiver becomes effective. After an amendment or waiver becomes effective
with respect to a series of Securities, it shall bind every Holder of Securities of such series.

 

For purposes of this
Indenture, the written consent of the Holder of a Global Security shall be deemed to include any consent delivered by an Agent
Member by electronic means in accordance with the Automated Tender Offer Procedures system or other customary procedures of, and
pursuant to authorization by, DTC.

 

The Company may, but
shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their consent or take
any other action described above or required or permitted to be taken pursuant to this Indenture. The Trustee may, but shall not
be obligated to, fix a record date for the purpose of determining the Holders of Securities of any series entitled to join in the
giving, making or taking of (i) any declaration of acceleration pursuant to Section 6.2, (ii) any request to institute proceedings
pursuant to Section 6.6(b), or (iii) any direction referred to in Section 6.5, in each case with respect to such
series. If a record date is so fixed, then notwithstanding the second preceding paragraph, those Persons who were Holders at such
record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any
consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record date.
No such consent shall become valid or effective more than 180 days after such record date.

 

    	 	43	 

     

    

 

Section 9.5           Notation
on or Exchange of Securities. If an amendment changes the terms of a Security, the Trustee may require the Holder of the Security
to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the changed terms and return
it to the Holder. Alternatively, if the Company so determines, the Company in exchange for the Security shall issue and the Trustee
shall authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new
Security shall not affect the validity of such amendment.

 

Section 9.6           Trustee
To Sign Amendments. The Trustee shall sign any amendment authorized pursuant to this Article IX if the amendment does
not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign
it. In signing such amendment, the Trustee shall receive indemnity satisfactory to it and shall receive, and (subject to Sections
7.1 and 7.2) shall be fully protected in conclusively relying upon, in addition to the documents required by Section
11.4, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such amendment is authorized
or permitted by this Indenture, that such amendment is the legal, valid and binding obligation of the Company enforceable against
the Company in accordance with its terms, subject to customary exceptions, and that such amendment complies with the provisions
hereof (including Section 9.3).

 

ARTICLE
X

Satisfaction and Discharge

 

Section 10.1         Satisfaction
and Discharge. This Indenture will be discharged and will cease to be of further effect as to all Securities of any series
issued hereunder (except as to surviving rights of registration of transfer, exchange or conversion of such Securities and as
otherwise specified hereunder), when:

 

(a)          either:

 

(i)          all
Securities of such series that have been authenticated, except lost, stolen or destroyed Securities that have been replaced or
paid and Securities of such series for whose payment money has been deposited in trust and thereafter repaid to the Company, have
been delivered to the Trustee for cancellation; or

 

(ii)         all
Securities of such series that have not been delivered to the Trustee for cancellation have become due and payable or will become
due and payable within one year by reason of the mailing of a notice of redemption or otherwise and the Company has irrevocably
deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders of Securities
of such series, cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable
Government Securities, in amounts as will be sufficient without consideration of any reinvestment of interest, to pay and discharge
the entire indebtedness on such Securities not delivered to the Trustee for cancellation for principal, premium, if any, and accrued
interest and Additional Amounts, if any, to the date of maturity or redemption;

 

    	 	44	 

     

    

 

(b)          no
Default or Event of Default with respect to such series has occurred and is continuing on the date of the deposit (other than a
Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result
in a breach or violation of, or constitute a default under, any other instrument to which the Company or any of its Subsidiaries
is a party or by which the Company or any of its Subsidiaries is bound;

 

(c)          the
Company has paid or caused to be paid all sums payable by it hereunder with respect to such series and pursuant to Section 7.7;

 

(d)          the
Company has delivered irrevocable instructions to the Trustee hereunder to apply the deposited money toward the payment of such
Securities at fixed maturity or the Redemption Date, as the case may be; and

 

(e)          the
Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, which state that all conditions
precedent under this Indenture relating to the satisfaction and discharge of this Indenture with respect to such series have been
satisfied.

 

ARTICLE
XI

Miscellaneous

 

Section 11.1         Trust
Indenture Act Controls. If any provision of this Indenture limits, qualifies or conflicts with another provision which is
required to be included in this Indenture by the TIA, the provision required by the TIA shall control.

 

Section 11.2         Notices.
Any notice or communication shall be in writing (including facsimile and electronic transmission in PDF format) and delivered
in person, by telecopier or overnight air courier guaranteeing next day delivery or mailed by first-class mail addressed as follows:

 

if to the Company:

 

GW Pharmaceuticals plc

Sovereign House, Vision Park, Histon

Cambridge, CB24 9BZ

United Kingdom

Attn: Adam D. George, Company Secretary

Fax No.: (44) 1223 235667

Email: investors@gwpharm.com

 

    	 	45	 

     

    

 

if to the Trustee:

 

U.S. Bank National Association

100 Wall Street, Suite 1600

New York, New York, 10005

United States of America

Attn: Global Corporate Trust Services

Fax No: (212) 361-6153

 

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

 

Any notice or communication
mailed to a registered Holder shall be mailed to the Holder at the Holder’s address as it appears on the registration books
of the Registrar and shall be sufficiently given if so mailed within the time prescribed. The Registrar shall provide the Company
with address information with respect to the Holders as promptly as practicable following the Company’s request therefor.
Any notice or communication shall also be mailed to any Person described in TIA § 3.13(c), to the extent required by the TIA.

 

Failure to mail a notice
or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a notice or
communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it.

 

The Trustee agrees
to accept and act upon notices, instructions or directions pursuant to this Indenture sent by unsecured e-mail, facsimile transmission
or other similar unsecured electronic methods. If the Company elects to give the Trustee e-mail or facsimile instructions (or instructions
by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding
of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly
or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict
or are inconsistent with a subsequent written instruction. The Company agrees to assume all risks arising out of the use of such
electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting
on unauthorized instructions, and the risk of interception and misuse by third parties.

 

Section 11.3         Communication
by Holders with other Holders. Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their
rights under this Indenture or the Securities. The Company, the Trustee, the Registrar and anyone else shall have the protection
of TIA § 312(c).

 

Section 11.4         Certificate
and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to take or refrain from
taking any action under this Indenture, the Company shall furnish to the Trustee:

 

(a)          an
Officers’ Certificate in form and substance reasonably satisfactory to the Trustee (which shall include the statements set
forth in Section 11.5 hereof) stating that, in the opinion of the signers, all conditions precedent, if any, provided for
in this Indenture relating to the proposed action have been fully complied with and satisfied; and

 

(b)          an
Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in
Section 11.5 hereof) stating that, in the opinion of such counsel, all such conditions precedent have been fully complied
with and satisfied.

 

    	 	46	 

     

    

 

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

 

Any certificate or
opinion of an Officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such Officer knows, or in the exercise of reasonable care should know, that the certificate
or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any such
certificate or Opinion of Counsel may be based, and may state that it is so based, insofar as it relates to factual matters, upon
a certificate or opinion of, or representations by, an Officer or Officers of the Company stating that the information with respect
to such factual matters known to the Company, unless such counsel knows that the certificate or opinion or representations with
respect to such matters are erroneous.

 

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

 

Section 11.5         Statements
Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or condition provided
for in this Indenture (except for the Certificate specified in Section 3.5) shall include:

 

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

 

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

 

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

 

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

 

Section 11.6         When
Securities Disregarded. In determining whether the Holders of the required principal amount of Securities of any series have
concurred in any direction, waiver or consent, Securities owned by the Company or by any Person directly or indirectly controlling
or controlled by or under direct or indirect common control with the Company shall be disregarded and deemed not to be outstanding,
except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or
consent, only Securities which a Trust Officer of the Trustee actually knows are so owned shall be so disregarded. Also, subject
to the foregoing, only Securities outstanding at the time shall be considered in any such determination.

 

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Section 11.7         Rules
by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by, or a meeting of, Holders. The
Registrar and the Paying Agent may make reasonable rules for their functions.

 

Section 11.8         Legal
Holidays. A “Legal Holiday” is a Saturday, a Sunday or a day on which banking institutions in the City
of New York or in a Place of Payment are authorized by law, regulation or executive order to remain closed. If a payment date
is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest shall accrue
for the intervening period. If a regular record date is a Legal Holiday, the record date shall not be affected.

 

Section 11.9         GOVERNING
LAW; WAIVER OF JURY TRIAL. THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK. EACH OF THE COMPANY, THE TRUSTEE AND THE HOLDERS HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE
SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY.

 

Section 11.10         No
Recourse Against Others. No director, manager, officer, employee, incorporator, member, partner, stockholder or other owner
of Capital Stock of the Company, as such, will have any liability for any obligations of the Company under the Securities or this
Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder of Securities
by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance
of the Securities.

 

Section 11.11         Successors.
All agreements of the Company in this Indenture and the Securities shall bind its successors. All agreements of the Trustee
in this Indenture shall bind its successors.

 

Section 11.12         Multiple
Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of
them together represent the same agreement. One signed copy is enough to prove this Indenture. The exchange of copies of this
Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture
as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto
transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

 

Section 11.13         Severability.
In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

  

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Section 11.14         No
Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret any other indenture, loan or debt
agreement of the Company or any Subsidiary or any other Person. Any such indenture, loan or debt agreement may not be used to
interpret this Indenture.

 

Section 11.15         Table
of Contents; Headings. The table of contents, cross-reference sheet and headings of the Articles and Sections of this Indenture
have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or
restrict any of the terms or provisions hereof.

 

Section 11.16         Force
Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations
hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes,
work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being
understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry
to resume performance as soon as practicable under the circumstances.

 

Section 11.17         U.S.A.
Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like
all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify,
and record information that identifies each person or legal entity that establishes a relationship or opens an account with the
Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order
for the Trustee to satisfy the requirements of the U.S.A. Patriot Act.

 

Section 11.18         Consent
to Jurisdiction. The Company irrevocably submits to the non-exclusive jurisdiction of any New York State or Federal court
sitting in the Borough of Manhattan in the City of New York over any suit, action or proceeding arising out of or relating to
this Indenture or any Security. The Company irrevocably waives, to the fullest extent permitted by law, any objection that it
may have to the laying of the venue of any such suit, action or proceeding brought in such a court and any claim that any such
suit, action or proceeding brought in such a court has been brought in any inconvenient forum. The Company agrees that final judgment
in any such suit, action or proceeding brought in such a court shall be conclusive and binding upon the Company and may be enforced
in any other courts in the jurisdiction of which the Company is subject, by a suit upon such judgment; provided that service of
process is effected upon the Company in a manner permitted by law; provided further, however, that the Company does not waive,
and the foregoing provisions of this sentence shall not constitute or be deemed to constitute a waiver of, (i) any right to appeal
any such judgment, to seek any stay or otherwise to seek reconsideration or review of any such judgment or (ii) any stay of execution
or levy pending an appeal from, or a suit, action or proceeding for reconsideration or review of, any such judgment.

 

    	 	49	 

     

    

 

Section 11.19         Anti-Money
Laundering Laws. The operations of the Company and its subsidiaries are and have been conducted at all times in material compliance
with all applicable financial recordkeeping and reporting requirements, including those of the U.S. Bank Secrecy Act, as amended
by Title III of the U.S. Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where the Company and its subsidiaries
conduct business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered
or enforced by any governmental agency, including without limitation, the following legislation of the United Kingdom: the Proceeds
of Crime Act 2002, the Terrorism Act 2000 and the Money Laundering Regulations 2007 (in each case as amended) (collectively, the
“Anti-Money Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency,
authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Anti-Money Laundering
Laws is pending or, to the knowledge of the Company, threatened.

 

Section 11.20         Indenture
and Securities Solely Corporate Obligations. No recourse under or upon any obligation, covenant or agreement of this Indenture,
any supplemental indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against
any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or of any successor corporation,
either directly or through the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement of
any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder
are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by,
the incorporators, shareholders, officers or directors, as such, of the Company or of any successor corporation, or any of them,
because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or any of the Securities or implied therefrom; and that any and all such personal liability, either
at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator,
shareholder, officer or director, as such, because of the creation of the indebtedness hereby authorized, or under or by reason
of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are
hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue
of such Securities.

 

Section 11.21         FATCA.
In order to comply with sections 1471 – 1474 of the Internal Revenue Code, including regulations promulgated thereunder,
(“FATCA”) or an intergovernmental agreement, including any related guidance or legislation, implementing FATCA
(collectively, “Applicable Law”) that a foreign financial institution, issuer, paying agent, holder or other
institution is or has agreed to be subject to related to this Indenture, (i) to the extent the Company has in its possession sufficient
information about holders or other applicable parties and/or transactions (including any modification to the terms of such transactions)
relating to Applicable Law, the Company agrees to provide to U.S. Bank National Association such information for U.S. Bank National
Association’s determination as to any tax related obligations under Applicable Law, (ii) the Company agrees that U.S. Bank
National Association shall be entitled to make any withholding or deduction from payments under this Indenture to the extent necessary
to comply with Applicable Law for which U.S. Bank National Association shall not have any liability, and (iii) the Company agrees
to hold harmless U.S. Bank National Association for any losses it may suffer due to the actions it takes to comply with such Applicable
Law. The terms of this section shall survive the termination of this Indenture.

 

    	 	50	 

     

    

 

Section 11.22         Compliance
with Sanctions.

 

(a)          The
Company represents that neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any director, officer,
employee, agent, affiliate or representative of the Company or any of its subsidiaries, is a Person that is, or is owned or controlled
by a Person that is:

 

(i)          the
subject of any sanctions administered or enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”),
the United Nations Security Council (“UNSC”), the European Union (“EU”), Her Majesty’s
Treasury (“HMT”), or other relevant sanctions authority (collectively, “Sanctions”), or

 

(ii)         located,
organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Crimea, Cuba,
Iran, North Korea and Syria).

 

(b)          The
Company represents and covenants that neither it nor any of its subsidiaries will, directly or indirectly, use the proceeds of
the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:

 

(i)          to
fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding
or facilitation, is the subject of Sanctions;

 

(ii)         to
fund or facilitate, directly or indirectly, any transaction that is prohibited under the Bribery Act; or

 

(iii)        in
any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering,
whether as underwriter, advisor, investor or otherwise).

 

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blank; signature page follows]

 

    	 	51	 

     

    

  

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

 

	 	GW PHARMACEUTICALS PLC, as Issuer
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

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