Document:

Exhibit
4.3

 

ADVAXIS,
INC.

 

TO

 

 

 

Trustee

 

Indenture

 

Dated
as of                , 20    

 

Subordinated
Debt Securities

 

    	 

    	 

    

 

TABLE
OF CONTENTS

 

	 	 	Page
	 	 	 
	ARTICLE
    ONE - DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	 	 
	SECTION
    101.		Definitions	 	1
	SECTION
    102.		Compliance
    Certificates and Opinions	 	8
	SECTION
    103.	 	Form
    of Documents Delivered to Trustee	 	8
	SECTION
    104.	 	Acts
    of Holders	 	9
	SECTION
    105.	 	Notices,
    etc., to Trustee and Company	 	10
	SECTION
    106.	 	Notice
    to Holders; Waiver	 	10
	SECTION
    107.	 	Counterparts;
    Effect of Headings and Table of Contents	 	11
	SECTION
    108.	 	Successors
    and Assigns	 	11
	SECTION
    109.	 	Severability
    Clause	 	11
	SECTION
    110.	 	Benefits
    of Indenture	 	11
	SECTION
    111.	 	Governing
    Law	 	11
	SECTION
    112.	 	Legal
    Holidays	 	11
	SECTION
    113.	 	Limited
    Liability; Immunity of Stockholders, Directors, Officers and Agents of the Company	 	11
	SECTION
    114.	 	Conflict
    with Trust Indenture Act	 	12
	 	 	 
	ARTICLE
    TWO - SECURITIES FORMS	 	 
	SECTION
    201.	 	Forms
    of Securities	 	12
	SECTION
    202.	 	Form
    of Trustee’s Certificate of Authentication	 	12
	SECTION
    203.	 	Securities
    Issuable in Global Form	 	12
	 	 	 
	ARTICLE
    THREE - THE SECURITIES	 	 
	SECTION
    301.	 	Amount
    Unlimited; Issuable in Series	 	13
	SECTION
    302.	 	Denominations	 	15
	SECTION
    303.	 	Execution,
    Authentication, Delivery and Dating	 	15
	SECTION
    304.	 	Temporary
    Securities	 	17
	SECTION
    305.	 	Registration,
    Registration of Transfer, Conversion and Exchange	 	18
	SECTION
    306.	 	Mutilated,
    Destroyed, Lost and Stolen Securities	 	20
	SECTION
    307.	 	Payment
    of Interest; Interest Rights Preserved	 	21
	SECTION
    308.	 	Persons
    Deemed Owners	 	22
	SECTION
    309.	 	Cancellation	 	23
	SECTION
    310.	 	Computation
    of Interest	 	23
	SECTION
    311.	 	CUSIP
    Numbers	 	23
	 	 	 
	ARTICLE
    FOUR - SATISFACTION AND DISCHARGE	 	 
	SECTION
    401.	 	Satisfaction
    and Discharge of Indenture	 	23
	SECTION
    402.	 	Application
    of Trust Funds	 	24
	 	 	 	 	 
	ARTICLE
    FIVE - REMEDIES	 	 
	SECTION
    501.	 	Events
    of Default	 	24
	SECTION
    502.	 	Acceleration
    of Maturity; Rescission and Annulment	 	25
	SECTION
    503.	 	Collection
    of Indebtedness and Suits for Enforcement by Trustee	 	26
	SECTION
    504.	 	Trustee
    May File Proofs of Claim	 	26
	SECTION
    505.	 	Trustee
    May Enforce Claims Without Possession of Securities or Coupons	 	27
	SECTION
    506.	 	Application
    of Money Collected	 	27
	SECTION
    507.	 	Limitation
    on Suits	 	27
	SECTION
    508.	 	Unconditional
    Right of Holders to Receive Principal, Premium or Make-Whole Amount, if any, and Interest	 	27
	SECTION
    509.	 	Restoration
    of Rights and Remedies	 	28 
	SECTION
    510.	 	Rights
    and Remedies Cumulative	 	28
	SECTION
    511.	 	Delay
    or Omission Not Waiver	 	28
	SECTION
    512.	 	Control
    by Holders of Securities	 	28
	SECTION
    513.	 	Waiver
    of Past Defaults	 	28
	SECTION
    514.	 	Waiver
    of Usury, Stay or Extension Laws	 	28
	SECTION
    515.	 	Undertaking
    for Costs	 	29

 

    	 

    	 

    

 

	ARTICLE
    SIX - THE TRUSTEE  	 	 
	SECTION
    601.	 	Notice of Defaults	 	29
	SECTION 602.	 	Certain Rights of
    Trustee	 	29
	SECTION 603.	 	Not Responsible for
    Recitals or Issuance of Securities	 	30
	SECTION 604.	 	May Hold Securities	 	30
	SECTION 605.	 	Money Held in Trust	 	31
	SECTION 606.	 	Compensation and Reimbursement	 	31
	SECTION 607.	 	Corporate Trustee
    Required; Eligibility; Conflicting Interests	 	31
	SECTION 608.	 	Resignation and Removal;
    Appointment of Successor	 	31
	SECTION 609.	 	Acceptance of Appointment
    by Successor	 	32
	SECTION 610.	 	Merger, Conversion,
    Consolidation or Succession to Business	 	33
	SECTION 611.	 	Appointment of Authenticating
    Agent	 	33
	SECTION 612.	 	Certain Duties and
    Responsibilities of the Trustee	 	34
	 	 	 	 	 
	ARTICLE
    SEVEN - HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY  	 	 
	SECTION 701.	 	Disclosure of Names
    and Addresses of Holders	 	35
	SECTION 702.	 	Reports by Trustee	 	35
	SECTION 703.	 	Reports by Company	 	35
	SECTION 704.	 	Company to Furnish
    Trustee Names and Addresses of Holders	 	36
	 	 	 	 	 
	ARTICLE
    EIGHT - CONSOLIDATION, MERGER, SALE, LEASE OR CONVEYANCE  	 	 
	SECTION 801.	 	Consolidations and
    Mergers of Company and Sales, Leases and Conveyances Permitted Subject to Certain Conditions	 	36
	SECTION 802.	 	Rights and Duties
    of Successor Corporation	 	36
	SECTION 803.	 	Officers’ Certificate
    and Opinion of Counsel	 	36
	 	 	 	 	 
	ARTICLE
    NINE - SUPPLEMENTAL INDENTURES  	 	 
	SECTION 901.	 	Supplemental Indentures
    Without Consent of Holders	 	37
	SECTION 902.	 	Supplemental Indentures
    with Consent of Holders	 	38
	SECTION 903.	 	Execution of Supplemental
    Indentures	 	38
	SECTION 904.	 	Effect of Supplemental
    Indentures	 	38
	SECTION 905.	 	Conformity with Trust
    Indenture Act	 	38
	SECTION 906.	 	Reference in Securities
    to Supplemental Indentures	 	38
	 	 	 	 	 
	ARTICLE
    TEN - COVENANTS  	 	 
	SECTION 1001.	 	Payment of Principal,
    Premium or Make-Whole Amount, if any; and Interest	 	39
	SECTION 1002.	 	Maintenance of Office
    or Agency	 	39
	SECTION 1003.	 	Money for Securities
    Payments to Be Held in Trust	 	40
	SECTION 1004.	 	Existence	 	40
	SECTION 1005.	 	Maintenance of Properties	 	41
	SECTION 1006.	 	Insurance	 	41
	SECTION 1007.	 	Payment of Taxes and
    Other Claims	 	41
	SECTION 1008.	 	Statement as to Compliance	 	41
	SECTION 1009.	 	Waiver of Certain
    Covenants	 	41
	 	 	 	 	 
	ARTICLE
    ELEVEN - REDEMPTION OF SECURITIES  	 	 
	SECTION 1101.	 	Applicability of Article	 	41
	SECTION 1102.	 	Election to Redeem;
    Notice to Trustee	 	41
	SECTION 1103.	 	Selection by Trustee
    of Securities to Be Redeemed	 	41
	SECTION 1104.	 	Notice of Redemption	 	42
	SECTION 1105.	 	Deposit of Redemption
    Price	 	43
	SECTION 1106.	 	Securities Payable
    on Redemption Date	 	43
	SECTION 1107.	 	Securities Redeemed
    in Part	 	43

 

    	 

    	 

    

 

	ARTICLE
    TWELVE - SINKING FUNDS	 	
	SECTION
    1201.	 	Applicability
    of Article	 	44
	SECTION
    1202.	 	Satisfaction
    of Sinking Fund Payments with Securities	 	44
	SECTION
    1203.	 	Redemption
    of Securities for Sinking Fund	 	44
	 	 	 
	ARTICLE
    THIRTEEN - REPAYMENT AT THE OPTION OF HOLDERS	 	
	SECTION
    1301.	 	Applicability
    of Article	 	44
	SECTION
    1302.	 	Repayment
    of Securities	 	44
	SECTION
    1303.	 	Exercise
    of Option	 	45
	SECTION
    1304.	 	When
    Securities Presented for Repayment Become Due and Payable	 	45
	SECTION
    1305.	 	Securities
    Repaid in Part	 	45
	 	 	 
	ARTICLE
    FOURTEEN - DEFEASANCE AND COVENANT DEFEASANCE	 	 
	SECTION
    1401.	 	Applicability
    of Article; Company’s Option to Effect Defeasance or Covenant Defeasance	 	46
	SECTION
    1402.	 	Defeasance
    and Discharge	 	46
	SECTION
    1403.	 	Covenant
    Defeasance	 	46
	SECTION
    1404.	 	Conditions
    to Defeasance or Covenant Defeasance	 	46
	SECTION
    1405.	 	Deposited
    Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions	 	47
	 	 	 
	ARTICLE
    FIFTEEN - MEETINGS OF HOLDERS OF SECURITIES	 	 
	SECTION
    1501.	 	Purposes
    for Which Meetings May Be Called	 	48
	SECTION
    1502.	 	Call,
    Notice and Place of Meetings	 	48
	SECTION
    1503.	 	Persons
    Entitled to Vote at Meetings	 	48
	SECTION
    1504.	 	Quorum;
    Action	 	49
	SECTION
    1505.	 	Determination
    of Voting Rights; Conduct and Adjournment of Meetings	 	49
	SECTION
    1506.	 	Counting
    Votes and Recording Action of Meetings	 	50
	 	 	 
	ARTICLE
    SIXTEEN - SUBORDINATION OF SECURITIES	 	 
	SECTION
    1601.	 	Agreement
    to Subordinate	 	50
	SECTION
    1602.	 	Payment
    Over of Proceeds upon Dissolution, Etc.	 	50
	SECTION
    1603.	 	No
    Payment When Senior Indebtedness in Default	 	51
	SECTION
    1604.	 	Reliance
    by Senior Indebtedness on Subordination Provisions	 	51
	SECTION
    1605.	 	Subrogation
    to Rights of Holders of Senior Indebtedness	 	52
	SECTION
    1606.	 	Provisions
    Solely to Define Relative Rights	 	52
	SECTION
    1607.	 	Trustee
    to Effectuate Subordination	 	52
	SECTION
    1608.	 	No
    Waiver of Subordination Provisions	 	52
	SECTION
    1609.	 	Notice
    to Trustee	 	53
	SECTION
    1610.	 	Reliance
    on Judicial Order or Certificate of Liquidating Agent	 	53
	SECTION
    1611.	 	Trustee
    Not Fiduciary for Holders of Senior Indebtedness	 	53
	SECTION
    1612.	 	Rights
    of Trustee as Holder of Senior Indebtedness; Preservation of Trustee’s Rights	 	53
	SECTION
    1613.	 	Article
    Applicable to Paying Agents	 	54
	 	 	 
	ARTICLE
    SEVENTEEN - CONVERSION OF SECURITIES	 	 
	SECTION
    1701.	 	Applicability
    of Article; Conversion Privilege and Conversion Price	 	54
	SECTION
    1702.	 	Exercise
    of Conversion Privilege	 	54
	SECTION
    1703.	 	Fractions
    of Shares	 	55
	SECTION
    1704.	 	Adjustment
    of Conversion Price	 	55
	SECTION
    1705.	 	Notice
    of Adjustments of Conversion Price	 	57
	SECTION
    1706.	 	Notice
    of Certain Corporate Action	 	57
	SECTION
    1707.	 	Company
    to Reserve Common Stock	 	58
	SECTION
    1708.	 	Taxes
    on Conversion	 	58
	SECTION
    1709.	 	Covenants
    as to Common Stock	 	58
	SECTION
    1710.	 	Cancellation
    of Converted Securities	 	58
	SECTION
    1711.	 	Provisions
    in Case of Consolidation, Merger or Sale of Assets; Special Distributions	 	58
	SECTION
    1712.	 	Trustee
    Adjustment Disclaimer; Company Determination Final	 	59
	SECTION
    1713.	 	When
    No Adjustment Required	 	59
	SECTION
    1714.	 	Equivalent
    Adjustments	 	59

 

    	 

    	 

    

 

ADVAXIS,
INC.

 

Reconciliation
and tie between the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act” or “TIA”) and the
Indenture, dated as of              , 20    .

 

	 	 	 
	Trust
        Indenture Act Section
	 	Indenture
        Section

	 	 
	§
    310(a)(1)	 	607
	(a)(2)	 	607
	(b)	 	607,
    608
	§
    312(c)	 	701
	§
    313(a)	 	702
	(c)	 	702
	§
    314(a)	 	703
	(a)(4)	 	1008
	(c)(1)	 	102
	(c)(2)	 	102
	(e)	 	102
	§
    315(b)	 	601
	§
    316(a) (last sentence)	 	101
(“Outstanding”)
	(a)(1)(A)	 	502,
512
	(a)(1)(B)	 	513
	(b)	 	508
	§
    317(a)(1)	 	503
	(a)(2)	 	504
	§
    318(a)	 	111
	(c)	 	111

 

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

 

Attention
should also be directed to Section 318(c) of the Trust Indenture Act, which provides that the provisions of Sections 310 to and
including 317 of the Trust Indenture Act are a part of and govern every qualified indenture, whether or not physically contained
therein.

 

    	 

    	 

    

 

INDENTURE,
dated as of            , 20      , between
ADVAXIS, INC., a corporation organized under the laws of the State of Delaware (hereinafter called the
“Company”), having its principal office at 305 College Road East Princeton, New Jersey 08540, and                   , as Trustee
hereunder (hereinafter called the “Trustee”), having a Corporate Trust Office at
          .

 

RECITALS
OF THE COMPANY

 

The
Company deems it necessary to issue from time to time for its lawful purposes subordinated debt securities (hereinafter called
the “Securities”) evidencing its unsecured and subordinated indebtedness, and has duly authorized the execution and
delivery of this Indenture to provide for the issuance from time to time of the Securities, to be issued in one or more Series
as provided in this Indenture.

 

This
Indenture is subject to the provisions of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act” or
“TIA”), that are deemed to be incorporated into this Indenture and shall, to the extent applicable, be governed by
such provisions.

 

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

 

NOW,
THEREFORE, THIS INDENTURE WITNESSETH:

 

For
and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and
agreed, for the equal and proportionate benefit of all Holders of the Securities or of a Series thereof, as follows:

 

ARTICLE
ONE - DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

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

 

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

 

(2)
all other terms used herein which are defined in the TIA, either directly or by reference therein, have the meanings assigned
to them therein, and the terms “cash transactions” and “self-liquidating paper,” as used in TIA Section
311, shall have the meanings assigned to them in the rules of the Commission adopted under the TIA;

 

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

 

(4)
any reference to an “Article” or a “Section” refers to an Article or Section, as the case may be, of this
Indenture; and

 

(5)
the words “herein,” “hereof “and “hereunder” and other words of similar import refer to this
Indenture as a whole and not to any particular Article, Section or other subdivision.

 

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

 

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

 

“Authenticating
Agent” means any Person authorized by the Trustee pursuant to Section 611 hereof to act on behalf of the Trustee to
authenticate Securities of one or more Series.

 

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

 

    	1

    	 

    

 

“Bankruptcy
Law” has the meaning specified in Section 501.

 

“Bearer
Security” means any Security established pursuant to Section 201 which is payable to the bearer.

 

“Board
of Directors” when used with reference to the Company, means the board of directors of the Company, or any committee
of that board duly authorized to act hereunder, or any director or directors and/or officer or officers of the Company, to whom
the board or committee shall have duly delegated its authority.

 

“Board
Resolution” means a copy of (1) a resolution certified by the Secretary or an Assistant Secretary of the Company to
have been duly adopted by the Board of Directors or a duly authorized committee of the Board of Directors and to be in full force
and effect on the date of such certification, or (2) a certificate signed by the director or directors and/or officer or officers
to whom the Board of Directors shall have duly delegated its authority, together with a resolution certified by the Secretary
or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect
on the date of such certification authorizing such delegation, and, in each case, delivered to the Trustee.

 

“Business
Day,” when used with respect to any Place of Payment or any other particular location referred to in this Indenture
or in the Securities, means, unless otherwise specified with respect to any Securities issued pursuant to Section 301, any day,
other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions in that Place of Payment
or particular location are authorized or required by law, regulation or executive order to close.

 

“Capital
Stock” means, with respect to any Person, any capital stock (including preferred stock), shares, interests, participations
or other ownership interests (however designated) of such Person and any rights (other than debt securities convertible into or
exchangeable for corporate stock), warrants or options to purchase any thereof.

 

“Clearstream”
means Clearstream Banking Luxembourg, société anonyme, or its successor.

 

“Closing
Price” means the closing price of a share of Common Stock of the Company as reported on The NASDAQ Global Select Market.

 

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

 

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

 

“Common
Depository” has the meaning specified in Section 304.

 

“Common
Stock” means, with respect to any Person, all shares of capital stock issued by such Person other than Preferred Stock.

 

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

 

“Company
Request” and “Company Order” mean, respectively, a written request or order signed in the name of
the Company by its Chief Executive Officer, the President, or a Vice President, and by its Treasurer, an Assistant Treasurer,
the Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee.

 

“Constituent
Person” has the meaning specified in Section 1711.

 

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

 

    	2

    	 

    

 

“Conversion
Price” has the meaning specified in Section 1701.

 

“Corporate
Trust Office” means the office of the Trustee at which, at any particular time, its corporate trust business shall
be principally administered, which office at the date hereof is located at [
              ].

 

“corporation”
includes corporations, associations, companies and business trusts.

 

“coupon”
means any interest coupon appertaining to a Bearer Security.

 

“Covenant
Defeasance” has the meaning specified in Section 1403.

 

“Custodian”
has the meaning specified in Section 501.

 

“Defaulted
Interest” has the meaning specified in Section 307.

 

“Defeasance”
has the meaning specified in Section 1402.

 

“Distribution
Record Date” has the meaning specified in Section 1711.

 

“Dividend
Record Date” has the meaning specified in Section 1704.

 

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

 

“DTC”
means The Depository Trust Company and any successor to DTC in its capacity as depository for any Securities.

 

“ECU”
means the European Currency Unit as defined and revised from time to time by the Council of the European Communities.

 

“Euroclear”
means the operator of the Euroclear System.

 

“European
Communities” means the European Economic Community, the European Coal and Steel Community and the European Atomic Energy
Community.

 

“European
Monetary System” means the European Monetary System established by the Resolution of December 5, 1978 of the Council
of the European Communities.

 

“Event
of Default” has the meaning specified in Article Five.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, as in force at the date as of which this Indenture was executed;
provided, however, that in the event the Exchange Act is amended after such date, “Exchange Act” means
to the extent required by any such amendment, the Exchange Act as so amended.

 

“Exchange
Date” has the meaning specified in Section 304.

 

“FINRA”
means the Financial Industry Regulatory Authority, Inc.

 

“Foreign
Currency” means any currency, currency unit or composite currency, including, without limitation, the ECU issued by
the government of one or more countries other than the United States of America or by any recognized confederation or association
of such governments.

 

    	3

    	 

    

 

“GAAP”
means, except as otherwise provided herein, generally accepted accounting principles, as in effect from time to time, as used
in the United States applied on a consistent basis.

 

“Global
Security” means a Security evidencing all or a part of a series of Securities issued to and registered in the name of
the depository for such series, or its nominee, in accordance with Section 305, and bearing the legend prescribed in Section 203.

 

“Government
Obligations” means (i) securities which are (A) direct obligations of the United States of America or the government
which issued the Foreign Currency in which the Securities of a particular series are payable, for the payment of which its full
faith and credit is pledged or (B) obligations of a Person controlled or supervised by and acting as an agency or instrumentality
of the United States of America or such government which issued the Foreign Currency in which the Securities of such series are
payable, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America
or such other government, which, in either case, are not callable or redeemable at the option of the issuer thereof, and (iii)
a depository receipt issued by a bank or trust company as custodian with respect to any such Government Obligation or a specific
payment of interest on or principal of any such Government Obligation held by such custodian for the account of the holder of
a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction
from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government
Obligation or the specific payment of interest on or principal of the Government Obligation evidenced by such depository receipt.

 

“Guaranty”
by any Person means any Obligation, contingent or otherwise, of such Person guaranteeing any Indebtedness of any other Person
(the “primary obligor”) in any manner, whether directly or indirectly, and including, without limitation, every Obligation
of such Person (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or to purchase
(or to advance or supply funds for the purchase of) any security for the payment of such Indebtedness, (ii) to purchase property,
securities or services for the purpose of assuring the holder of such Indebtedness of the payment of such Indebtedness or (iii)
to maintain working capital, equity capital or other financial statement condition or liquidity of the primary obligor so as to
enable the primary obligor to pay such Indebtedness; provided, however, that a Guaranty by any Person shall not
include endorsements by such Person for collection or deposit, in either case in the ordinary course of business. The terms “Guaranteed,”
“Guaranteeing” and “Guarantor” shall have meanings correlative to the foregoing.

 

“Holder”
means, in the case of a Registered Security, the Person in whose name a Security is registered in the Security Register and, in
the case of a Bearer Security, the bearer thereof and, when used with respect to any coupon, shall mean the bearer thereof.

 

“Indebtedness”
means, with respect to any Person, without duplication, (i) any Obligation of such Person relating to any indebtedness of such
Person (A) for borrowed money (whether or not the recourse of the lender is to the whole of the assets, of such person or only
to a portion thereof), (B) evidenced by notes, debentures or similar instruments (including purchase money obligations) given
in connection with the acquisition of any property or assets (other than trade accounts payable for inventory or similar property
acquired in the ordinary course of business), including securities, for the payment of which such Person is liable, directly or
indirectly, or the payment of which is secured by a lien, charge or encumbrance on property or assets of such Person, (C) for
goods, materials or services purchased in the ordinary course of business (other than trade accounts payable arising in the ordinary
course of business), (D) with respect to letters of credit or bankers acceptances issued for the account of such Person or performance,
surety or similar bonds, (E) for the payment of money relating to a capitalized lease Obligation or (F) under interest rate swaps,
caps or similar agreements and foreign exchange contracts, currency swaps or similar agreements; (ii) any liability of others
of the kind described in the preceding clause (i), which such Person has Guaranteed or which is otherwise its legal liability;
and (iii) any and all deferrals, renewals, extensions and refunding of, or amendments, modifications or supplements to, any liability
of the kind described in any of the preceding clauses (i) or (ii).

 

“Indenture”
means this instrument as originally executed or as it may be supplemented or amended from time to time by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof, and shall include the terms of particular series
of Securities established as contemplated by Section 301; provided, however, that, if at any time more than one
Person is acting as Trustee under this instrument, “Indenture” shall mean, with respect to any one or more series
of Securities for which such Person is Trustee, this instrument as originally executed or as it may be supplemented or amended
from time to time by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and
shall include the terms of the or those particular series of Securities for which such Person is Trustee established as contemplated
by Section 301, exclusive, however, of any provisions or terms which relate solely to other series of Securities for which such
Person is Trustee, regardless of when such terms or provisions were adopted, and exclusive of any provisions or terms adopted
by means of one or more indentures supplemental hereto executed and delivered after such Person had become such Trustee but to
which such Person, as such Trustee, was not a party.

 

    	4

    	 

    

 

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

 

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

 

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

 

“Make-Whole
Amount,” when used with respect to any Security, means the amount, if any, in addition to principal (and accrued interest
thereon, if any) which is required by a Security, under the terms and conditions specified therein or as otherwise specified as
contemplated by Section 301, to be paid by the Company to the Holder thereof in connection with any optional redemption or accelerated
payment of such Security.

 

“mandatory
sinking fund payment” has the meaning specified in Section 1201.

 

“Market
Value of the Distribution” has the meaning specified in Section 1704.

 

“Maturity,”
when used with respect to any Security, means the date on which the principal (or, if the context so requires, in the case of
an Original Issue Discount Security, or lesser amount or, in the case of an Indexed Security, an amount determined in accordance
with the specified terms of that Security) of such Security or an installment of principal becomes due and payable as therein
or herein provided, whether at the Stated Maturity or by declaration of acceleration, notice of redemption, notice of option to
elect repayment or otherwise.

 

“Obligation”
of any Person with respect to any specified Indebtedness means any obligation of such Person to pay principal, premium, interest
(including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to such Person,
whether or not a claim for such post-petition interest is allowed in such proceeding), penalties, reimbursement or indemnification
amounts, fees, expenses or other amounts relating to such Indebtedness.

 

“Officers’
Certificate” means a certificate signed by the Chairman of the Board of Directors, the Chief Executive Officer, the
President, or a Vice President (whether or not designated by a number or word or words added before or after the title “Vice
President”), and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the Company, and delivered
to the Trustee.

 

“Opinion
of Counsel” means a written opinion of counsel, who may be counsel for the Company or who may be an employee of or other
counsel for the Company.

 

“optional
sinking fund payment” has the meaning specified in Section 1201.

 

“Original
Issue Discount Security” means any Security which provides for an amount (excluding any amounts attributable to accrued
but unpaid interest thereon) less than the principal amount thereof to be due and payable upon a declaration of acceleration of
the Maturity thereof pursuant to Section 502.

 

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

 

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

 

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

 

(iii)
Securities, except to the extent provided in Sections 1402 and 1403, with respect to which the Company has effected Defeasance
and/or Covenant Defeasance as provided in Article Fourteen; and

 

    	5

    	 

    

 

(iv)
Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been authenticated
and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to
the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are
valid obligations of the Company.

 

provided,
however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given
any request, demand, authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders for
quorum purposes, and for the purpose of making the calculations required by TIA Section 313, (i) the principal amount of an Original
Issue Discount Security that may be counted in making such determination or calculation and that shall be deemed to be Outstanding
for such purpose shall be equal to the amount of principal thereof that would be (or shall have been declared to be) due and payable,
at the time of such determination, upon a declaration of acceleration of the maturity thereof pursuant to Section 502, (ii) the
principal amount of any Security denominated in a Foreign Currency that may be counted in making such determination or calculation
and that shall be deemed Outstanding for such purpose shall be equal to the Dollar equivalent, determined pursuant to Section
301 as of the date such Security is originally issued by the Company, of the principal amount (or, in the case of an Original
Issue Discount Security, the Dollar equivalent as of such date of original issuance of the amount determined as provided in clause
(i) above) of such Security, (iii) the principal amount of any Indexed Security that may be counted in making such determination
or calculation and that shall be deemed outstanding for such purpose shall be equal to the principal face amount of such Indexed
Security at original issuance, unless otherwise provided with respect to such Security pursuant to Section 301, and (iv) Securities
owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be
disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making such
calculation or in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities
which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities owned as provided
in clause (iv) above which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction
of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or
any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. In case of a dispute as to such
right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice.

 

“Paying
Agent” means any Person authorized by the Company to pay the principal of (and premium or Make-Whole Amount, if any)
or interest on any Securities or coupons on behalf of the Company.

 

“Payment
Blockage Notice” and “Payment Blockage Period” have the respective meanings specified in Section
1603.

 

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

 

“Place
of Payment,” when used with respect to the Securities of or within any series, means the place or places where the principal
of (and premium or Make-Whole Amount, if any) and interest on such Securities are payable as specified as contemplated by Sections
301 and 1002.

 

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

 

“Preferred
Stock” means, with respect to any Person, all capital stock issued by such Person that is entitled to a preference or
priority over any other capital stock issued by such Person with respect to any distribution of such Person’s assets, whether
by dividend or upon any voluntary or involuntary liquidation, dissolution or winding up.

 

“Proceeding”
has the meaning specified in Section 1602.

 

“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.

 

    	6

    	 

    

 

“Redemption
Price,” when used with respect to any Security to be redeemed, means the price specified in the related Officers’
Certificate or supplemental indenture contemplated by and pursuant to Section 301, at which it is to be redeemed pursuant to this
Indenture.

 

“Reference
Date” has the meaning specified in Section 1704.

 

“Registered
Security” shall mean any Security which is registered in the Security Register.

 

“Regular
Record Date” for the interest payable on any Interest Payment Date on the Registered Securities of or within any series
means the date specified for that purpose as contemplated by Section 301, whether or not a Business Day.

 

“Repayment
Date” means, when used with respect to any Security to be repaid at the option of the Holder, the date fixed for such
repayment by or pursuant to this Indenture.

 

“Repayment
Price” means, when used with respect to any Security to be repaid at the option of the Holder, the price at which it
is to be repaid by or pursuant to this Indenture.

 

“Responsible
Officer,” when used with respect to the Trustee, means any Vice President (whether or not designated by a number or
a word or words added before or after the title “Vice President”), Assistant Vice President, Trust Officer or Assistant
Trust Officer working in its Corporate Trust Department, or any other officer of the Trustee customarily performing functions
similar to those performed by any of the above designated officers and working in its Corporate Trust Department, and also means,
with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such officer’s
knowledge and familiarity with the particular subject and who shall have direct responsibility for the administration of this
Indenture.

 

“Rights”
has the meaning specified in Section 1704.

 

“Rights
Record Date” has the meaning specified in Section 1704.

 

“Securities
Payment” has the meaning specified in Section 1602.

 

“Security”
and “Securities” has the meaning stated in the first recital of this Indenture and, more particularly, means
any Security or Securities authenticated and delivered under this Indenture; provided, however, that, if at any
time there is more than one Person acting as Trustee under this Indenture, “Securities” with respect to the Indenture
as to which such Person is Trustee shall have the meaning stated in the first recital of this Indenture and shall more particularly
mean Securities authenticated and delivered under this Indenture, exclusive, however, of Securities of any series as to which
such Person is not Trustee.

 

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

 

“Senior
Indebtedness” means Indebtedness of the Company, whether outstanding on the date of this Indenture or thereafter created,
incurred, assumed or guaranteed by the Company, other than the following: (1) any Indebtedness as to which, in the instrument
evidencing such Indebtedness or pursuant to which such Indebtedness was issued, it is expressly provided that such Indebtedness
is subordinate in right of payment to all Indebtedness of the Company not expressly subordinated to such Indebtedness; (2) any
Indebtedness which by its terms refers explicitly to the Securities and states that such Indebtedness shall not be senior, shall
be pari passu or shall be subordinated in right of payment to the Securities; and (3) with respect to any series of Securities,
any Indebtedness of the Company evidenced by Securities of the same or of another series. Notwithstanding anything to the contrary
in the foregoing, Senior Indebtedness shall not include Indebtedness of or amounts owed by the Company for compensation to employees,
or for goods, materials or services purchased in the ordinary course of business.

 

A
“Series” of Securities means all securities denoted as part of the same series authorized by or pursuant to
a particular Board Resolution.

 

“Short
Term Rights” has the meaning specified in Section 1704.

 

“Special
Record Date” for the payment of any Defaulted Interest on the Registered Securities of or within any series means a
date fixed by the Company pursuant to Section 307.

 

    	7

    	 

    

 

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

 

“Trading
Day” means any day on which The NASDAQ Global Select Market is open for business.

 

“Trigger
Events” has the meaning specified in Section 1704.

 

“Trust
Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as amended and as in force at the
date as of which this Indenture was executed, except as provided in Section 905.

 

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

 

“Unadjusted
Distribution” has the meaning specified in Section 1704.

 

“United
States” means, unless otherwise specified with respect to any Securities pursuant to Section 301, the United States
of America (including the states and the District of Columbia), its territories, its possessions and other areas subject to its
jurisdiction.

 

“United
States Person” means, unless otherwise specified with respect to any Securities pursuant to Section 301, an individual
who is a citizen or resident of the United States, a corporation, partnership or other entity created or organized in or under
the laws of the United States or an estate or trust the income of which is subject to United States Federal income taxation regardless
of its source.

 

“Yield
to Maturity” means the yield to maturity, computed at the time of issuance of a Security (or, if applicable, at the
most recent redetermination of interest on such Security) and as set forth in such Security in accordance with generally accepted
United States bond yield computation principles.

 

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

 

Every
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (including certificates
delivered pursuant to Section 1008) shall include:

 

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

 

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

 

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

 

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

 

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

 

    	8

    	 

    

 

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

 

(a)
Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given
or taken by Holders of the Outstanding Securities of all series or one or more series, as the case may be, may be embodied in
and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agents duly appointed
in writing. If Securities of a series are issuable as Bearer Securities, any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Indenture to be given or taken by Holders of Securities of such series may, alternatively,
be embodied in and evidenced by the record of Holders of Securities of such series voting in favor thereof, either in person or
by proxies duly appointed in writing, at any meeting of Holders of Securities of such series duly called and held in accordance
with the provisions of Article Fifteen, or a combination of such instruments and any such record. Except as herein otherwise expressly
provided, such action shall become effective when such instrument or instruments or record or both are delivered to the Trustee
and, where it is hereby expressly required, to the Company. Such instrument or instruments and any such record (and the action
embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such
instrument or instruments or so voting at any such meeting. Proof of execution of any such instrument or of a writing appointing
any such agent, or of the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and conclusive
in favor of the Trustee and the Company and any agent of the Trustee or the Company, if made in the manner provided in this Section.
The record of any meeting of Holders of Securities shall be proved in the manner provided in Section 1506.

 

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

 

(c)
The ownership of Registered Securities shall be proved by the Security Register. As to any matter relating to beneficial ownership
interests in any Global Security, the appropriate depository’s records shall be dispositive for purposes of this Indenture.

 

(d)
The ownership of Bearer Securities may be proved by the production of such Bearer Securities or by a certificate executed, as
depository, by any trust company, bank, banker or other depository, wherever situated, if such certificate shall be deemed by
the Trustee to be satisfactory, showing that at the date therein mentioned such Person had on deposit with such depository, or
exhibited to it, the Bearer Securities therein described; or such facts may be proved by the certificate or affidavit of the Person
holding such Bearer Securities, if such certificate or affidavit is deemed by the Trustee to be satisfactory. The Trustee and
the Company may assume that such ownership of any Bearer Security continues until (1) another certificate or affidavit bearing
a later date issued in respect of the same Bearer Security is produced, or (2) such Bearer Security is produced to the Trustee
by some other Person, or (3) such Bearer Security is surrendered in exchange for a Registered Security, or (4) such Bearer Security
is no longer Outstanding. The ownership of Bearer Securities may also be proved in any other manner which the Trustee deems sufficient.

 

(e)
If the Company shall solicit from the Holders of Registered Securities any request, demand, authorization, direction, notice,
consent, waiver or other Act, the Company may, at its option, in or pursuant to a Board Resolution, fix in advance a record date
for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other
Act, but the Company shall have no obligation to do so. Notwithstanding TIA Section 316(c), such record date shall be the record
date specified in or pursuant to such Board Resolution, which shall be a date not earlier than the date 30 days prior to the first
solicitation of Holders generally in connection therewith and not later than the date such solicitation is completed. If such
a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before
or after such record date, but only the Holders of record at the close of business on such record date shall be deemed to be Holders
for the purposes of determining whether Holders of the requisite proportion of Outstanding Securities have authorized or agreed
or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the
Outstanding Securities shall be computed as of such record date; provided that no such authorization, agreement or consent
by the Holders on such record date shall be deemed effective unless it shall become effective pursuant to the provisions of this
Indenture not later than eleven months after the record date.

 

    	9

    	 

    

 

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

 

SECTION
105. Notices, etc., to Trustee and Company. Any request, demand, authorization, direction, notice, consent, waiver or Act
of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with,

 

(1)
the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed
in writing to or with the Trustee at [              ] or
at any other address previously furnished in writing to the Company by the Trustee, Attention: [              ];
or

 

(2)
the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly
provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at the address of its principal
office specified in the first paragraph of this Indenture or at any other address previously furnished in writing to the Trustee
by the Company, Attention: [              ]; or

 

(3)
either the Trustee or the Company, by the other party or by any Holder, shall be sufficient for every purpose hereunder if given
by facsimile transmission, receipt confirmed by telephone followed by an original copy delivered by guaranteed overnight courier;
if to the Trustee at facsimile number [              ];
and if to the Company at facsimile number [              ].

 

SECTION
106. Notice to Holders; Waiver. Where this Indenture provides for notice of any event to Holders of Registered Securities
by the Company or the Trustee, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing
and mailed, first-class postage prepaid, to each such Holder affected by such event, at his address as it appears in the Security
Register, not later than the latest date, if any, and not earlier than the earliest date, if any, prescribed for the giving of
such notice. In any case where notice to Holders of Registered Securities is given by mail, neither the failure to mail such notice,
nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other
Holders of Registered Securities or the sufficiency of any notice to Holders of Bearer Securities given as provided herein. Any
notice mailed to a Holder in the manner herein prescribed shall be conclusively deemed to have been received by such Holder, whether
or not such Holder actually receives such notice.

 

If
by reason of the suspension of or irregularities in regular mail service or by reason of any other cause it shall be impracticable
to give such notice by mail, then such notification to Holders of Registered Securities as shall be made with the approval of
the Trustee shall constitute a sufficient notification to such Holders for every purpose hereunder.

 

Except
as otherwise expressly provided herein or otherwise specified with respect to any Securities pursuant to Section 301, where this
Indenture provides for notice to Holders of Bearer Securities of any event, such notice shall be sufficiently given if published
in an Authorized Newspaper in The City of New York and in such other city or cities as may be specified in such Securities on
a Business Day, such publication to be not later than the latest date, if any, and not earlier than the earliest date, if any,
prescribed for the giving of such notice. Any such notice shall be deemed to have been given on the date of such publication or,
if published more than once, on the date of the first such publication.

 

If
by reason of the suspension of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause
it shall be impracticable to publish any notice to Holders of Bearer Securities as provided above, then such notification to Holders
of Bearer Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to such Holders for
every purpose hereunder. Neither the failure to give notice by publication to any particular Holder of Bearer Securities as provided
above, nor any defect in any notice so published, shall affect the sufficiency of such notice with respect to other Holders of
Bearer Securities or the sufficiency of any notice to Holders of Registered Securities given as provided herein.

 

    	10

    	 

    

 

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

 

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

 

SECTION
107. Counterparts; Effect of Headings and Table of Contents. This Indenture may be executed in any number of counterparts,
each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the
same Indenture. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect
the construction hereof.

 

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

 

SECTION
109. Severability Clause. In case any provision in this Indenture or in any Security or coupon shall be held invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired
thereby.

 

SECTION
110. Benefits of Indenture. Nothing in this Indenture or in the Securities or coupons, if any, express or implied, shall
give to any Person, other than the parties hereto, any Security Registrar, any Paying Agent, any Authenticating Agent and their
successors hereunder and the Holders any benefit or any legal or equitable right, remedy or claim under this Indenture.

 

SECTION
111. Governing Law. This Indenture and the Securities and coupons shall be governed by and construed in accordance with
the laws of the State of New York. This Indenture is subject to the provisions of the TIA that are required to be part of this
Indenture and shall, to the extent applicable, be governed by such provisions.

 

SECTION
112. Legal Holidays. In any case where any Interest Payment Date, Redemption Date, Repayment Date, sinking fund payment
date, Stated Maturity or Maturity of any Security or the last date on which a Holder has the right to convert or exchange a Security
shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or any Security
or coupon other than a provision in the Securities of any series which specifically states that such provision shall apply in
lieu hereof), payment of interest or principal (and premium or Make-Whole Amount, if any) or conversion or exchange of such Security
need not be made at such Place of Payment on such date, but (except as otherwise provided in the supplemental indenture with respect
to such Security) may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if
made on the Interest Payment Date, Redemption Date, Repayment Date or sinking fund payment date, or at the Stated Maturity or
Maturity, or on such last day for conversion or exchange, provided that no interest shall accrue on the amount so payable for
the period from and after such Interest Payment Date, Redemption Date, Repayment Date, sinking fund payment date, Stated Maturity
or Maturity, as the case may be.

 

SECTION
113. Limited Liability; Immunity of Stockholders, Directors, Officers and Agents of the Company. Notwithstanding any other
provision of this Indenture or of the Securities of any series to the contrary, no recourse under or upon any obligation, covenant
or agreement contained in this Indenture or in any Security, or for the payment of any sums due on account of any indebtedness
evidenced thereby, including without limitation principal, premium or interest, if any, or for any claim based on this Indenture
or any Security or otherwise in respect of this Indenture or any Security, shall be had, whether by levy or execution or otherwise,
against (i) the Company, the Company’s assets or against any past, present or future stockholder, employee, officer, director
or agent, as such, of the Company or any successor, either directly or through the Company or any successor, under any rule of
law, statute, constitutional provision or by the enforcement of any assessment or penalty, or by any legal or equitable proceeding
or otherwise, nor shall any such parties be personally liable for any such amounts, obligations or claims, or liable for any deficiency
judgment based thereon or with respect thereto, it being expressly understood that the sole remedies hereunder or under any other
document with respect to the Securities against such parties with respect to such amounts, obligations or claims shall be against
the Company and that all such liability of and recourse against such parties is expressly waived and released by the acceptance
of the Securities by the Holders and as part of the consideration for the issue of the Securities.

 

    	11

    	 

    

 

SECTION
114. Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with another provision hereof
which is required or deemed to be included in this Indenture by any of the provisions of the Trust Indenture Act, such required
provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that
may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded,
as the case may be.

 

ARTICLE
TWO - SECURITIES FORMS

 

SECTION
201. Forms of Securities. The Registered Securities, if any, of each series and the Bearer Securities, if any, of each
series and related coupons shall be substantially in the form of Exhibit A hereto or in such other form as shall be established
in one or more indentures supplemental hereto or approved from time to time by or pursuant to a Board Resolution in accordance
with Section 301, shall have such appropriate insertions, omissions, substitutions and other variations as are required or permitted
by this Indenture or any indenture supplemental hereto, and may have such letters, numbers or other marks of identification or
designation and such legends or endorsements placed thereon as the Company may deem appropriate and as are not inconsistent with
the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto
or with any rule or regulation of any over-the-counter market or securities exchange, on which the Securities may be quoted or
listed, or to conform to usage.

 

Unless
otherwise specified as contemplated by Section 301, Bearer Securities shall have interest coupons attached.

 

The
definitive Securities and coupons shall be printed, lithographed or engraved or produced by any combination of these methods on
a steel engraved border or steel engraved borders or mechanically reproduced on safety paper or may be produced in any other manner,
all as determined by the officers executing such Securities or coupons, as evidenced by their execution of such Securities or
coupons.

 

SECTION
202. Form of Trustee’s Certificate of Authentication. Subject to Section 611, 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.

 

	 	 	 	,
	 	 	 	as Trustee
	 	 	 	 
	Dated:	 	 	By:	 
	 	 	 	 	Authorized
    Signatory

 

SECTION
203. Securities Issuable in Global Form. If Securities of or within a series are issuable in the form of one or more Global
Securities, then, notwithstanding clause (8) of Section 301 and the provisions of Section 302, any such Global Security or Securities
may provide that it or they shall represent the aggregate amount of all Outstanding Securities of such series (or such lesser
amount as is permitted by the terms thereof) from time to time endorsed thereon and may also provide that the aggregate amount
of Outstanding Securities of such series represented thereby may from time to time be increased or decreased to reflect exchanges.
Any endorsement of any Global Security to reflect the amount, or any increase or decrease in the amount, or changes in the rights
of Holders thereof, of Outstanding Securities represented thereby shall be made (or caused to be made) by the Trustee in such
manner or by such Person or Persons as shall be specified therein or in the Company Order to be delivered to the Trustee pursuant
to Section 303 or 304. Subject to the provisions of Section 303 and, if applicable, Section 304, the Trustee shall deliver and
redeliver any Global Security in permanent global form in the manner and upon instructions given by the Person or Persons specified
therein or in the applicable Company Order. If a Company Order pursuant to Section 303 or 304 has been, or simultaneously is,
delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Global Security shall be
in writing but need not comply with Section 102 and need not be accompanied by an Opinion of Counsel.

 

The
provisions of the last sentence of Section 303 shall apply to any Security represented by a Global Security if such 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 102 and need not be accompanied by an Opinion of Counsel) with regard to the reduction in
the principal amount of Securities represented thereby, together with the written statement contemplated by the last sentence
of Section 303.

 

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Notwithstanding
the provisions of Section 307, unless otherwise specified as contemplated by Section 301, payment of principal of and any premium
or Make-Whole Amount, if any, and interest on any Global Security in permanent global form shall be made to the registered Holder
thereof.

 

Notwithstanding
the provisions of Section 308 and except as provided in the preceding paragraph, the Company, the Trustee and any agent of the
Company and the Trustee shall treat as the Holder of such principal amount of Outstanding Securities represented by a permanent
Global Security (i) in the case of a permanent Global Security in registered form, the Holder of such permanent Global Security
in registered form, or (ii) in the case of a permanent Global Security in bearer form, Euroclear or Clearstream.

 

Any
Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form:

 

“This
Security is a Global Security within the meaning set forth in the Indenture hereinafter referred to and is registered in the name
of a Depository or a nominee of a Depository. This Security is exchangeable for Securities registered in the name of a person
other than the Depository or its nominee only in the limited circumstances described in the Indenture, and may not be transferred
except as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another
nominee of the Depository or by the Depository or its nominee to a successor Depository or its nominee.”

 

ARTICLE
THREE - THE SECURITIES

 

SECTION
301. Amount Unlimited; Issuable in Series. The aggregate principal amount of Securities which may be authenticated and
delivered under this Indenture is unlimited.

 

The
Securities may be issued in one or more series, each of which shall be authorized pursuant to Board Resolutions of the Company.
There shall be established in one or more Board Resolutions or pursuant to authority granted by one or more Board Resolutions
and, subject to Section 303, set forth in an Officers’ Certificate, or established in one or more indentures supplemental
hereto, prior to the issuance of Securities of any series:

 

(1)
The title of the Securities of the series, including “CUSIP” numbers (which shall distinguish the Securities of such
series from all other series of Securities);

 

(2)
Any 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 upon conversion of, or in exchange
for, or in lieu of, other Securities of the series pursuant to Section 304, 305, 306, 906, 1107 or 1305) and the minimum authorized
denominations with respect to the Securities of such series;

 

(3)
The price (expressed as a percentage of the principal amount thereof) at which such Securities will be issued and, if other than
the principal amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration of the maturity
thereof or (if applicable) the portion of the principal amount of such Securities that is convertible into Common Stock or Preferred
Stock or the method by which any such portion shall be determined;

 

(4)
If convertible, the terms on which such Securities are convertible, including the initial conversion price or rate and the conversion
period and any applicable limitations on the ownership or transferability of Common Stock or Preferred Stock receivable on conversion;

 

(5)
The date or dates, or the method for determining such date or dates, on which the principal of such Securities will be payable;

 

(6)
The rate or rates (which may be fixed or variable), or the method by which such rate or rates shall be determined, at which such
Securities will bear interest, if any;

 

(7)
The date or dates, or the method for determining such date or dates, from which any such interest will accrue, the Interest Payment
Dates on which any such interest will be payable, the Regular Record Dates for such Interest Payment Dates, or the method by which
such dates shall be determined, the Persons to whom such interest shall be payable, and the basis upon which interest shall be
calculated if other than that of a 360-day year of twelve 30-day months;

 

(8)
The Make-Whole Amount, if any, or method for determining the Make-Whole Amount, if any, payable with respect to such Securities,
and the terms upon which such amount, if any, will be payable;

 

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(9)
The place or places where the principal of (and premium or Make-Whole Amount, if any) and interest, if any, on such Securities
will be payable, where such Securities may be surrendered for registration of transfer or conversion or exchange and where notices
or demands to or upon the Company in respect of such Securities and this Indenture may be served;

 

(10)
The period or periods, if any, within which, the price or prices at which and the other terms and conditions upon which such Securities
may, pursuant to any optional or mandatory redemption provisions, be redeemed, as a whole or in part, at the option of the Company;

 

(11)
The obligation, if any, of the Company to redeem, repay or purchase such Securities pursuant to any sinking fund or analogous
provision or at the option of a Holder thereof, and the period or periods within which, the price or prices at which and the other
terms and conditions upon which such Securities will be redeemed, repaid or purchased, as a whole or in part, pursuant to such
obligation;

 

(12)
If other than Dollars, the currency or currencies in which such Securities are denominated and payable, which may be a foreign
currency or units of two or more foreign currencies or a composite currency or currencies, the manner of determining the equivalent
thereof in Dollars for purposes of the definition of “Outstanding” in Section 101, and the terms and conditions relating
thereto;

 

(13)
Whether the amount of payments of principal of (and premium or Make-Whole Amount, if any, including any amount due upon redemption,
if any) or interest on such Securities may be determined with reference to an index, formula or other method (which index, formula
or method may, but need not be, based on the yield on or trading price of other securities, including United States Treasury securities
or on a currency, currencies, currency unit or units, or composite currency or currencies) and the manner in which such amounts
shall be determined;

 

(14)
Whether the principal of (and premium or Make-Whole Amount, if any) or interest on the Securities of the series are to be payable,
at the election of the Company or a Holder thereof, in a currency or currencies, currency unit or units or composite currency
or currencies other than that in which such Securities are denominated or stated to be payable, the period or periods within which,
and the terms and conditions upon which, such election may be made, and the time and manner of, and identity of the exchange rate
agent with responsibility for, determining the exchange rate between the currency or currencies, currency unit or units or composite
currency or currencies in which such Securities are denominated or stated to be payable and the currency or currencies, currency
unit or units or composite currency or currencies in which such Securities are to be so payable;

 

(15)
Provisions, if any, granting special rights to the Holders of Securities of the series upon the occurrence of such events as may
be specified;

 

(16)
Any deletions from, modifications of or additions to the Events of Default or covenants of the Company with respect to Securities
of the series, whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set forth
herein;

 

(17)
Whether and under what circumstances the Company will pay any additional amounts on such Securities in respect of any tax, assessment
or governmental charge and, if so, whether the Company will have the option to redeem such Securities in lieu of making such payment;

 

(18)
Whether Securities of the series are to be issuable as Registered Securities, Bearer Securities (with or without coupons) or both,
any restrictions applicable to the offer, sale or delivery of Bearer Securities and the terms upon which Bearer Securities of
the series may be exchanged for Registered Securities of the series and vice versa (if permitted by applicable laws and regulations),
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 with or without coupons and, if so, whether beneficial owners of interests in any
such permanent global Security may, or shall be required to, 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, or shall be required to,
occur, if other than in the manner provided in the Indenture, and, if Registered Securities of the series are to be issuable as
a Global Security, the identity of the depository for such series;

 

(19)
The date as of which any Bearer Securities of the series and any temporary Global Security representing outstanding Securities
of the series shall be dated if other than the date of original issuance of the first Security of the series to be issued;

 

(20)
The Person to whom any interest on any Registered Security of the series shall be payable, if other than the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such
interest the manner in which, or the Person to whom, any interest on any Bearer Security of the series shall be payable, if otherwise
than upon presentation and surrender of the coupons appertaining thereto as they severally mature, and the extent to which, or
the manner in which, any interest payable on a temporary Global Security on an Interest Payment Date will be paid if other than
in the manner provided herein; provided, however, in each case, that the manner of determining such Person or making
such payment shall be acceptable to the Trustee (as not imposing on it any undue administrative burden or risk of liability);

 

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(21)
The applicability, if any, of the Defeasance and Covenant Defeasance provisions of Article Fourteen hereof to the Securities of
the series;

 

(22)
The obligation, if any, of the Company to permit the conversion of the Securities of such series into Common Stock or Preferred
Stock, as the case may be, and the terms and conditions upon which such conversion shall be effected (including, without limitation,
the initial conversion price or rate, the conversion period, any adjustment of the applicable conversion price and any requirements
relative to the reservation of such shares for purposes of conversion);

 

(23)
If the Securities of such series are to be issuable in definitive form (whether upon original issue or upon exchange of a temporary
Security of such series) only upon receipt of certain certificates or other documents or satisfaction of other conditions, then
the form and/or terms of such certificates, documents or conditions;

 

(24)
Designation of the Trustee, if different from the Trustee under the Indenture, with respect to such series and the terms applicable
to such Trustee (which shall be accepted by such Trustee by its execution and delivery of a supplemental indenture as provided
therein); and

 

(25)
Any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture).

 

All
Securities of any one series and the coupons appertaining to any Bearer Securities of such series shall be substantially identical
except, in the case of Registered Securities, as to denomination and except as may otherwise be provided in or pursuant to such
Board Resolution (subject to Section 303) and set forth in such Officers’ Certificate or in any such indenture supplemental
hereto. All Securities of any one series need not be issued at the same time and, unless otherwise provided, a series may be reopened,
without the consent of the Holders, for issuances of additional Securities of such series.

 

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

 

SECTION
302. Denominations. The Securities of each series shall be issuable in such denominations as shall be specified as contemplated
by Section 301. With respect to Securities of any series denominated in Dollars, in the absence of any such provisions with respect
to the Securities of any series, the Securities of such series, other than Global Securities (which may be of any denomination),
shall be issuable in denominations of $1,000 and any integral multiple thereof or the equivalent amounts thereof in the case of
Securities denominated in the Foreign Currency or currency unit.

 

SECTION
303. Execution, Authentication, Delivery and Dating. The Securities and any coupons appertaining thereto shall be executed
on behalf of the Company by its Chief Executive Officer, its President, or one of its Vice Presidents, under its corporate seal
reproduced thereon, and attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers
on the Securities and coupons may be manual or facsimile signatures of the present or any future such authorized officer and may
be imprinted or otherwise reproduced on the Securities.

 

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

 

At
any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series,
together with any coupon appertaining thereto, executed by the Company to the Trustee for authentication, together with a Company
Order for the authentication and delivery of such Securities (accompanied by a copy of the Board Resolution and the Officers’
Certificate or supplemental indenture contemplated by Section 301), and the Trustee in accordance with the Company Order shall
authenticate and deliver such Securities; provided, however, that, in connection with its original issuance, no
Bearer Security shall be mailed or otherwise delivered to any location in the United States; and provided further that,
unless otherwise specified with respect to any series of Securities pursuant to Section 301, a Bearer Security may be delivered
in connection with its original issuance only if the Person entitled to receive such Bearer Security shall have furnished a certificate
to Euroclear or Clearstream, as the case may be, in the form set forth in Exhibit B-1 to this Indenture or such other certificate
as may be specified by the Company with respect to any series of Securities pursuant to Section 301, dated no earlier than 15
days prior to the earlier of the date on which such Bearer Security is delivered and the date on which any temporary Security
first becomes exchangeable for such Bearer Security in accordance with the terms of such temporary Security and this Indenture.
If any Security shall be represented by a permanent Global Security, then, for purposes of this Section and Section 304, the notation
of a beneficial owner’s interest therein upon original issuance of such Security or upon exchange of a portion of a temporary
Global Security shall be deemed to be delivery in connection with its original issuance of such beneficial owner’s interest
in such permanent Global Security. Except as permitted by Section 306, the Trustee shall not authenticate and deliver any Bearer
Security unless all appurtenant coupons for interest then matured have been detached and canceled.

 

    	15

    	 

    

 

If
all the Securities of any series are not to be issued at one time and if the Board Resolution or supplemental indenture establishing
such series shall so permit, such Company Order may set forth procedures acceptable to the Trustee for the issuance of such Securities
and determining the terms of particular Securities of such series, such as interest rate or formula, maturity date, date of issuance
and date from which interest shall accrue. In authenticating such Securities, and accepting the additional responsibilities under
this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to TIA Section 315(a) through
315(d)) shall be fully protected in relying upon,

 

(i)
an Opinion of Counsel stating that

 

(a)
the form or forms of such Securities and any coupons have been established in conformity with the provisions of this Indenture;

 

(b)
the terms of such Securities and any coupons have been established in conformity with the provisions of this Indenture; and

 

(c)
such Securities, together with any coupons appertaining thereto, when completed by appropriate insertions and executed and delivered
by the Company to the Trustee for authentication in accordance with this Indenture, authenticated and delivered by the Trustee
in accordance with this Indenture and issued by the Company in the manner and subject to any conditions specified in such Opinion
of Counsel, will constitute legal, valid and legally binding obligations of the Company, enforceable in accordance with their
terms, subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization and other similar laws of general applicability
relating to or affecting the enforcement of creditors’ rights generally and to general equitable principles; and

 

(ii)
an Officers’ Certificate stating that all conditions precedent provided for in this Indenture relating to the issuance of
the Securities have been complied with and that, to the best of the knowledge of the signers of such certificate, that no Event
of Default with respect to any of the Securities shall have occurred and be continuing.

 

If
such form or terms have been so established, the Trustee shall not be required to authenticate such Securities (or to enter into
the related supplemental indenture, if applicable) if the issue of such Securities pursuant to this Indenture will affect the
Trustee’s own rights, duties, obligations or immunities under the Securities and this Indenture or otherwise in a manner
which is not reasonably acceptable to the Trustee.

 

Notwithstanding
the provisions of Section 301 and of the preceding paragraph, if all the Securities of any series are not to be issued at one
time, it shall not be necessary to deliver an Officers’ Certificate otherwise required pursuant to Section 301 or a Company
Order, or an Opinion of Counsel or an Officers’ Certificate otherwise required pursuant to the preceding paragraph at the
time of issuance of each Security of such series, but such order, opinion and certificates, with appropriate modifications to
cover such future issuances, shall be delivered at or before the time of issuance of the first Security of such series.

 

Each
Registered Security shall be dated the date of its authentication and each Bearer Security shall be dated as of the date specified
as contemplated by Section 301.

 

No
Security or coupon shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there
appears on such Security or Security to which such coupon appertains a certificate of authentication substantially in the form
provided for herein duly executed by the Trustee (subject to Section 611) by manual signature of an authorized signatory, and
such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated
and delivered hereunder and is entitled to the benefits of this Indenture. Notwithstanding the foregoing, if any Security (including
a Global Security) shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company
shall deliver such Security to the Trustee for cancellation as provided in Section 309 together with a written statement (which
need not comply with Section 102 and need not be accompanied by an Opinion of Counsel) stating that such 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.

 

    	16

    	 

    

 

SECTION
304. Temporary Securities.

 

(a)
Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall
authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced,
in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued, in registered
form, or, if authorized, in bearer form with one or more coupons or without coupons, and with such appropriate insertions, omissions,
substitutions and other variations as the officers executing such Securities may determine, as conclusively evidenced by their
execution of such Securities. In the case of Securities of any series, such temporary Securities may be in global form.

 

Except
in the case of temporary Global Securities (which shall be exchanged as otherwise provided herein or as otherwise provided in
or pursuant to a Board Resolution or supplemental indenture pursuant to Section 301), if temporary Securities of any series are
issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation
of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities
of such series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place of
Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities
of any series (accompanied by any non-matured coupons appertaining thereto), the Company shall execute (in accordance with a Company
Order delivered at or prior to the authentication of the first definitive security to such series) and the Trustee shall authenticate
and deliver in exchange therefor a like principal amount of definitive Securities of the same series of authorized denominations;
provided, however, that no definitive Bearer Security shall be delivered in exchange for a temporary Registered
Security; and provided further that a definitive Bearer Security shall be delivered in exchange for a temporary Bearer
Security only in compliance with the conditions set forth in Section 303. Until so exchanged, the temporary Securities of any
series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series.

 

(b)
Unless otherwise provided in or pursuant to a Board Resolution or supplemental indenture pursuant to Section 301, the following
provisions of this Section 304(b) shall govern the exchange of temporary Securities other than through the facilities of the DTC.
If any such temporary Security is issued in global form, then such temporary Global Security shall, unless otherwise provided
therein, be delivered to the London office of a depository or common depository upon and pursuant to written direction of the
Company (the “Common Depository”), for the benefit of Euroclear and Clearstream, for credit to the respective accounts
of the beneficial owners of such Securities (or to such other accounts as they may direct).

 

Without
unnecessary delay but in any event not later than the date specified in, or determined pursuant to the terms of, any such temporary
Global Security (the “Exchange Date”), the Company shall deliver to the Trustee definitive Securities, in aggregate
principal amount equal to the principal amount of such temporary Global Security, executed by the Company. On or after the Exchange
Date, such temporary Global Security shall be surrendered by the Common Depository to the Trustee, as the Company’s agent
for such purpose, to be exchanged, in whole or from time to time in part, for definitive Securities without charge, and the Trustee
shall authenticate and deliver, in exchange for each portion of such temporary Global Security, an equal aggregate principal amount
of definitive Securities of the same series of authorized denominations and of like tenor as the portion of such temporary Global
Security to be exchanged. The definitive Securities to be delivered in exchange for any such temporary Global Security shall be
in bearer form, registered form, permanent global bearer form or permanent global registered form, or any combination thereof,
as specified as contemplated by Section 301, and, if any combination thereof is so specified, as requested by the beneficial owner
thereof (as directed by or pursuant to information provided by the Common Depository); provided, however, that,
unless otherwise specified in such temporary Global Security, upon such presentation by the Common Depository, such temporary
Global Security shall be accompanied by a certificate dated the Exchange Date or a subsequent date and signed by Euroclear as
to the portion of such temporary Global Security held for its account then to be exchanged and a certificate dated the Exchange
Date or a subsequent date and signed by Clearstream as to the portion of such temporary Global Security held for its account then
to be exchanged, each in the form set forth in Exhibit B-2 to this Indenture or in such other form as may be established
pursuant to Section 301; and provided further that definitive Bearer Securities shall be delivered in exchange for a portion
of a temporary Global Security only in compliance with the requirements of Section 303.

 

Unless
otherwise specified in such temporary Global Security, the interest of a beneficial owner of Securities of a series in a temporary
Global Security shall be exchanged for definitive Securities of the same series and of like tenor following the Exchange Date
when the account holder instructs Euroclear or Clearstream, as the case may be, to request such exchange on his behalf and delivers
to Euroclear or Clearstream, as the case may be, a certificate in the form set forth in Exhibit B-1 to this Indenture (or
in such other form as may be established pursuant to Section 301), dated no earlier than 15 days prior to the Exchange Date, copies
of which certificate shall be available from the offices of Euroclear and Clearstream, the Trustee, any Authenticating Agent appointed
for such series of Securities and each Paying Agent. Unless otherwise specified in such temporary Global Security, any such exchange
shall be made free of charge to the beneficial owners of such temporary Global Security, except that a Person receiving definitive
Securities must bear the cost of insurance, postage, transportation and the like unless such Person takes delivery of such definitive
Securities in person at the offices of Euroclear or Clearstream. Definitive Securities in bearer form to be delivered in exchange
for any portion of a temporary Global Security shall be delivered only to an address located outside the United States.

 

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Until
exchanged in full as hereinabove provided, the temporary Securities of any series shall in all respects be entitled to the same
benefits under this Indenture as definitive Securities of the same series and of like tenor authenticated and delivered hereunder,
except that, unless otherwise specified as contemplated by Section 301, interest payable on a temporary Global Security on an
Interest Payment Date for Securities of such series occurring prior to the applicable Exchange Date shall be payable to Euroclear
and Clearstream on such Interest Payment Date upon delivery by Euroclear and Clearstream to the Trustee of a certificate or certificates
in the form set forth in Exhibit B-2 to this Indenture (or in such other forms as may be established pursuant to Section
301), for credit without further interest on or after such Interest Payment Date to the respective accounts of Persons who are
the beneficial owners of such temporary Global Security on such Interest Payment Date and who have each delivered to Euroclear
or Clearstream, as the case may be, a certificate dated no earlier than 15 days prior to the Interest Payment Date occurring prior
to such Exchange Date in the form set forth as Exhibit B-1 to this Indenture (or in such other forms as may be established
pursuant to Section 301). Notwithstanding anything to the contrary herein contained, the certifications made pursuant to this
paragraph shall satisfy the certification requirements of the preceding two paragraphs of this Section 304(b) and of the third
paragraph of Section 303 of this Indenture and the interests of the Persons who are the beneficial owners of the temporary Global
Security with respect to which such certification was made will be exchanged for definitive Securities of the same series and
of like tenor on the Exchange Date or the date of certification if such date occurs after the Exchange Date, without further act
or deed by such beneficial owners. Except as otherwise provided in this paragraph, no payments of principal or interest owing
with respect to a beneficial interest in a temporary Global Security will be made unless and until such interest in such temporary
Global Security shall have been exchanged for an interest in a definitive Security. Any interest so received by Euroclear and
Clearstream and not paid as herein provided shall be returned to the Trustee prior to the expiration of two years after such Interest
Payment Date in order to be repaid to the Company.

 

With
respect to Exhibit B-1 or B-2 to this Indenture, the Company may, in its discretion and if required or desirable
under applicable law, substitute one or more other forms of such exhibits for such exhibits, eliminate the requirement that any
or all certificate be provided, or change the time that any certificate may be required, provided that such substitute
form or forms or notice of elimination or change of such certification requirement have theretofore been delivered to the Trustee
with a Company Request and such form or forms, elimination or change is reasonably acceptable to the Trustee.

 

SECTION
305. Registration, Registration of Transfer, Conversion and Exchange. The Company shall cause to be kept at the Corporate
Trust Office of the Trustee or in any office or agency of the Company in a Place of Payment a register for each series of Securities
(the registers maintained in such office or in any such office or agency of the Company in a Place of Payment being herein sometimes
referred to collectively as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe,
the Company shall provide for the registration of Registered Securities and of transfers of Registered Securities. The Security
Register shall be in written form or any other form capable of being converted into written form within a reasonable time. The
Trustee, at its Corporate Trust Office, is hereby initially appointed “Security Registrar” for the purpose of registering
Registered Securities and transfers of Registered Securities on such Security Register as herein provided. In the event that the
Trustee shall cease to be Security Registrar, it shall have the right to examine, and be provided a copy of, the Security Register
at all reasonable times.

 

Subject
to the provisions of this Section 305, upon surrender for registration of transfer of any Registered Security of any series at
any office or agency of the Company in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate
and deliver, in the name of the designated transferee or transferees, one or more new Registered Securities of the same series,
of any authorized denominations and of a like aggregate principal amount, bearing a number not contemporaneously outstanding,
and containing identical terms and provisions.

 

Subject
to the provisions of this Section 305, at the option of the Holder, Registered Securities of any series may be exchanged for other
Registered Securities of the same series, of any authorized denomination or denominations and of a like aggregate principal amount,
containing identical terms and provisions, upon surrender of the Registered Securities to be exchanged at any such office or agency.
Whenever any such Registered Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate
and deliver, the Registered Securities which the Holder making the exchange is entitled to receive. Unless otherwise specified
with respect to any series of Securities as contemplated by Section 301, Bearer Securities may not be issued in exchange for Registered
Securities.

 

    	18

    	 

    

 

If
(but only if) permitted by the applicable Board Resolution and (subject to Section 303) set forth in the applicable Officers’
Certificate, or in any indenture supplemental hereto, delivered as contemplated by Section 301, at the option of the Holder, Bearer
Securities of any series may be exchanged for Registered Securities of the same series of any authorized denominations and of
a like aggregate principal amount and tenor, upon surrender of the Bearer Securities to be exchanged at any such office or agency,
with all unmatured coupons and all matured coupons in default thereto appertaining. If the Holder of a Bearer Security is unable
to produce any such unmatured coupon or coupons or matured coupon or coupons in default, any such permitted exchange may be effected
if the Bearer Securities are accompanied by payment in funds acceptable to the Company (or to the Trustee for the Security in
case of matured coupons in default) in an amount equal to the face amount of such missing coupon or coupons, or the surrender
of such missing coupon or coupons may be waived by the Company and the Trustee if there is furnished to them such security or
indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall
surrender to any Paying Agent any such missing coupon in respect of which such a payment shall have been made, such Holder shall
be entitled to receive the amount of such payment; provided, however, that, except as otherwise provided in Section
1002, interest represented by coupons shall be payable only upon presentation and surrender of those coupons at an office or agency
located outside the United States. Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at any
such office or agency in a permitted exchange for a Registered Security of the same series and like tenor after the close of business
at such office or agency on (i) any Regular Record Date and before the opening of business at such office or agency on the relevant
Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such office or agency on the related
proposed date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to such
Interest Payment Date or proposed date for payment, as the case may be, and interest or Defaulted Interest, as the case may be,
will not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of the Registered
Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon when due in accordance
with the provisions of this Indenture. Whenever any Securities are so surrendered for exchange, the Company shall execute, and
the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive.

 

Notwithstanding
the foregoing, except as otherwise specified as contemplated by Section 301, any permanent Global Security shall be exchangeable
only as provided in this paragraph. If the depository for any permanent Global Security is DTC, then, unless the terms of such
Global Security expressly permit such Global Security to be exchanged in whole or in part for definitive Securities, a Global
Security may be transferred, in whole but not in part, only to a nominee of DTC, or by a nominee of DTC to DTC, or to a successor
to DTC for such Global Security selected or approved by the Company or to a nominee of such successor to DTC. If at any time DTC
notifies the Company that it is unwilling or unable to continue as depository for the applicable Global Security or Securities
or if at any time DTC ceases to be a clearing agency registered under the Exchange Act if so required by applicable law or regulation,
the Company shall appoint a successor depository with respect to such Global Security or Securities. If (w) a successor depository
for such Global Security or Securities is not appointed by the Company within 90 days after the Company receives such notice or
becomes aware of such unwillingness, inability or ineligibility, (x) the Company delivers to the Trustee for Securities of such
series in registered form a Company Order stating that the Securities of such series shall be exchangeable, (y) an Event of Default
has occurred and is continuing and the beneficial owners representing a majority in principal amount of the applicable series
of Securities represented by such Global Security or Securities advise DTC to cease acting as depository for such Global Security
or Securities or (z) the Company, in its sole discretion, determines at any time that all Outstanding Securities (but not less
than all) of any series issued or issuable in the form of one or more Global Securities shall no longer be represented by such
Global Security or Securities, then the Company shall execute, and the Trustee shall authenticate and deliver definitive Securities
of like series, rank, tenor and terms in definitive form in an aggregate principal amount equal to the principal amount of such
Global Security or Securities. If any beneficial owner of an interest in a permanent global Security is otherwise entitled to
exchange such interest for Securities of such series and of like tenor and principal amount of another authorized form and denomination,
as specified as contemplated by Section 301 and provided that any applicable notice provided in the permanent Global Security
shall have been given, then without unnecessary delay but in any event not later than the earliest date on which such interest
may be so exchanged, the Company shall execute, and the Trustee shall authenticate and deliver definitive Securities in aggregate
principal amount equal to the principal amount of such beneficial owner’s interest in such permanent Global Security. On
or after the earliest date on which such interests may be so exchanged, such permanent Global Security shall be surrendered for
exchange by DTC or such other depository as shall be specified in the Company Order with respect thereto to the Trustee, as the
Company’s agent for such purpose; provided, however, that no such exchanges may occur during a period beginning
at the opening of business 15 days before any selection of Securities to be redeemed and ending on the relevant Redemption Date
if the Security for which exchange is requested may be among those selected for redemption; and provided further that no
Bearer Security delivered in exchange for a portion of a permanent Global Security shall be mailed or otherwise delivered to any
location in the United States. If a Registered Security is issued in exchange for any portion of a permanent Global Security after
the close of business at the office or agency where such exchange occurs on (i) any Regular Record Date and before the opening
of business at such office or agency on the relevant Interest Payment Date, or (ii) any Special Record Date and the opening of
business at such office or agency on the related proposed date for payment of Defaulted Interest, interest or Defaulted Interest,
as the case may be, will not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect
of such Registered Security, but will be payable on such Interest Payment Date or proposed date for payment, as the case may be,
only to the Person to whom interest in respect of such portion of such permanent Global Security is payable in accordance with
the provisions of this Indenture.

 

    	19

    	 

    

 

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

 

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

 

No
service charge shall be made to the Holder for any registration of transfer or conversion or exchange of Securities, but the Company
may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any
registration of transfer or conversion or exchange of Securities, other than exchanges pursuant to Section 304, 906, 1107 or 1305
not involving any transfer.

 

The
Company or the Trustee, as applicable, shall not be required (i) to issue, register the transfer of or exchange any Security if
such Security may be among those selected for redemption during a period beginning at the opening of business 15 days before selection
of the Securities to be redeemed under Section 1103 and ending at the close of business on (A) if such Securities are issuable
only as Registered Securities, the day of the mailing of the relevant notice of redemption and (B) if such Securities are issuable
as Bearer Securities, the day of the first publication of the relevant notice of redemption or, if such Securities are also issuable
as Registered Securities and there is no publication, the mailing of the relevant notice of redemption, or (ii) to register the
transfer of or exchange any Registered Security so selected for redemption in whole or in part, except, in the case of any Registered
Security to be redeemed in part, the portion thereof not to be redeemed, or (iii) to exchange any Bearer Security so selected
for redemption except that such a Bearer Security may be exchanged for a Registered Security of that series and like tenor, provided
that such Registered Security shall be simultaneously surrendered for redemption, or (iv) to issue, register the transfer
of or exchange any Security which has been surrendered for repayment at the option of the Holder, except the portion, if any,
of such Security not to be so repaid.

 

Furthermore,
notwithstanding any other provision of this Section 305, the Company will not be required to exchange any Securities if, as a
result of the exchange, the Company would suffer adverse consequences under any United States law or regulation.

 

SECTION
306. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated Security or a Security with a mutilated coupon
appertaining to it is surrendered to the Trustee or the Company, together with, in proper cases, such security or indemnity as
may be required by the Company or the Trustee to save each of them or any agent of either of them harmless, the Company shall
execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and principal amount,
containing identical terms and provisions and bearing a number not contemporaneously outstanding, with coupons corresponding to
the coupons, if any, appertaining to the surrendered Security.

 

If
there shall be delivered to the Company and to the Trustee (i) evidence to their satisfaction of the destruction, loss or theft
of any Security or coupon, and (ii) such security or indemnity as may be required by them to save each of them and any agent of
either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security or coupon has been acquired
by a bona fide purchaser, the Company shall execute and upon its request the Trustee shall authenticate and deliver, in lieu of
any such destroyed, lost or stolen Security or in exchange for the Security to which a destroyed, lost or stolen coupon appertains
(with all appurtenant coupons not destroyed, lost or stolen), a new Security of the same series and principal amount, containing
identical terms and provisions and bearing a number not contemporaneously outstanding, with coupons corresponding to the coupons,
if any, appertaining to such destroyed, lost or stolen Security or to the Security to which such destroyed, lost or stolen coupon
appertains.

 

    	20

    	 

    

 

Notwithstanding
the provisions of the previous two paragraphs, in case any such mutilated, destroyed, lost or stolen Security or coupon has become
or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, with coupons corresponding
to the coupons, if any, appertaining to such destroyed, lost or stolen Security or to the Security to which such destroyed, lost
or stolen coupon appertains, pay such Security or coupon if the applicant for such payment shall furnish to the Company and the
Trustee for such Security such security or indemnity as may be required by them to save each of them harmless, and in the case
of destruction, loss or theft, evidence satisfactory to the Company and Trustee and any agent of any of them of the destruction,
loss or theft of such Security and the ownership thereof; provided, however, that payment of principal of (and premium
or Make-Whole Amount, if any), and interest, if any, on, Bearer Securities shall, except as otherwise provided in Section 1002,
be payable only at an office or agency located outside the United States and, unless otherwise specified as contemplated by Section
301, any interest on Bearer Securities shall be payable only upon presentation and surrender of the coupons appertaining thereto.

 

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

 

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

 

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

 

SECTION
307. Payment of Interest; Interest Rights Preserved. Except as otherwise specified with respect to a series of Securities
in accordance with the provisions of Section 301, interest on any Registered Security that is payable, and is punctually paid
or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest payment at the office or agency
of the Company maintained for such purpose pursuant to Section 1002; provided, however, that each installment of
interest on any Registered Security may at the Company’s option be paid by (i) mailing a check for such interest, payable
to or upon the written order of the Person entitled thereto pursuant to Section 308, to the address of such Person as it appears
on the Security Register or (ii) transfer to an account maintained by the payee located inside the United States.

 

Unless
otherwise provided as contemplated by Section 301 with respect to the Securities of any series, payment of interest may be made,
in the case of a Bearer Security, by transfer to an account maintained by the payee with a bank located outside the United States.

 

Unless
otherwise provided as contemplated by Section 301, every permanent Global Security will provide that interest, if any, payable
on any Interest Payment Date will be paid to DTC, Euroclear and/or Clearstream, as the case may be, with respect to that portion
of such permanent Global Security held for its account by Cede & Co. or the Common Depository, as the case may be, for the
purpose of permitting such party to credit the interest received by it in respect of such permanent Global Security to the accounts
of the beneficial owners thereof.

 

In
case a Bearer Security of any series is surrendered in exchange for a Registered Security of such series after the close of business
(at an office or agency in a Place of Payment for such series) on any Regular Record Date and before the opening of business (at
such office or agency) on the next succeeding Interest Payment Date, such Bearer Security shall be surrendered without the coupon
relating to such Interest Payment Date and interest will not be payable on such Interest Payment Date in respect of the Registered
Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon when due in accordance
with the provisions of this Indenture.

 

Except
as otherwise specified with respect to a series of Securities in accordance with the provisions of Section 301, any interest on
any Registered Security of any series that is payable, but is not punctually paid or duly provided for, on any Interest Payment
Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered Holder thereof on
the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company,
at its election in each case, as provided in clause (1) or (2) below:

 

    	21

    	 

    

 

(1)
The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Registered Securities of such
series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment
of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the
amount of Defaulted Interest proposed to be paid on each Registered Security of such series and the date of the proposed payment
(which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit
with the Trustee an amount of money in the currency or currencies, currency unit or units or composite currency or currencies
in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of
such series) 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 on or 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 Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than
10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of
the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense
of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to
be mailed, first-class postage prepaid, to each Holder of Registered Securities of such series at his address as it appears in
the Security Register not less than 10 days prior to such Special Record Date. The Trustee may, in its discretion, in the name
and at the expense of the Company, cause a similar notice to be published at least once in an Authorized Newspaper in each Place
of Payment, but such publications shall not be a condition precedent to the establishment of such Special Record Date. Notice
of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such
Defaulted Interest shall be paid to the Persons in whose names the Registered Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the
following clause (2). In case a Bearer Security of any series is surrendered at the office or agency in a Place of Payment for
such series in exchange for a Registered Security of such series after the close of business at such office or agency on any Special
Record Date and before the opening of business at such office or agency on the related proposed date for payment of Defaulted
Interest, such Bearer Security shall be surrendered without the coupon relating to such proposed date of payment and Defaulted
Interest will not be payable on such proposed date of payment in respect of the Registered Security issued in exchange for such
Bearer Security, but will be payable only to the Holder of such coupon when due in accordance with the provisions of this Indenture.

 

(2)
The Company may make payment of any Defaulted Interest on the Registered Securities of any series in any other lawful manner not
inconsistent with the requirements of any over-the-counter market or securities exchange on which such Securities may be quoted
or listed, and upon such notice as may be required by such market or exchange, if, after notice given by the Company to the Trustee
of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.

 

Subject
to the foregoing provisions of this Section and Section 305, each Security delivered under this Indenture upon registration of
transfer of or upon conversion of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued
and unpaid, and to accrue, which were carried by such other Security.

 

SECTION
308. Persons Deemed Owners. Prior to due presentment of a Registered Security for registration of transfer, the Company,
the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Registered Security is registered
as the owner of such Security for the purpose of receiving payment of principal of (and premium or Make-Whole Amount, if any),
and (subject to Sections 305 and 307) interest on, such Registered Security and for all other purposes whatsoever, whether or
not such Registered Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall
be affected by notice to the contrary. All such payments so made to any such Person, or upon such Person’s order, shall
be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for money payable upon
any such Security.

 

Title
to any Bearer Security and any coupons appertaining thereto shall pass by delivery. The Company, the Trustee and any agent of
the Company or the Trustee may treat the Holder of any Bearer Security and the Holder of any coupon as the absolute owner of such
Security or coupon for the purpose of receiving payment thereof or on account thereof and for all other purposes whatsoever, whether
or not such Security or coupon be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall
be affected by notice to the contrary.

 

No
holder of any beneficial interest in any Global Security held on its behalf by a depository shall have any rights under this Indenture
with respect to such Global Security and such depository (which is the Holder of such security) shall be treated by the Company,
the Trustee, and any agent of the Company or the Trustee as the owner of such Global Security for all purposes whatsoever. None
of the Company, the Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect
of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests.

 

    	22

    	 

    

 

Notwithstanding
the foregoing, with respect to any Global Security, nothing herein shall prevent the Company, the Trustee, or any agent of the
Company or the Trustee, from giving effect to any written certification, proxy or other authorization furnished by any depository,
as a Holder, with respect to such Global Security or impair, as between such depository and owners of beneficial interests in
such Global Security, the operation of customary practices governing the exercise of the rights of such depository (or its nominee)
as Holder of such Global Security.

 

SECTION
309. Cancellation. All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder,
registration of transfer or conversion or exchange or for credit against any sinking fund payment shall, if surrendered to any
Person other than the Trustee, be delivered to the Trustee, and any such Securities and coupons and Securities and coupons surrendered
directly to the Trustee for any such purpose, upon direction by the Company, shall be promptly cancelled by it. The Company may
at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the
Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the
Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all
Securities so delivered shall be promptly cancelled by the Trustee. If the Company shall so acquire any of the Securities, however,
such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and
until the same are surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange
for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. Cancelled Securities
and coupons held by the Trustee shall be disposed of by the Trustee in accordance with its customary practices (subject to the
record retention requirements of the Exchange Act).

 

SECTION
310. Computation of Interest. Except as otherwise specified as contemplated by Section 301 with respect to Securities of
any series, interest on the Securities of each series shall be computed on the basis of a 360-day year consisting of twelve 30-day
months.

 

SECTION
311. CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use),
and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; 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 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, and any such redemption shall not be affected by any defect in or omission of such numbers.
The Company will promptly notify the Trustee of any change in the “CUSIP” numbers.

 

ARTICLE
FOUR - SATISFACTION AND DISCHARGE

 

SECTION
401. Satisfaction and Discharge of Indenture. This Indenture shall upon Company Request cease to be of further effect with
respect to any series of Securities specified in such Company Request (except as to any surviving rights of registration of transfer
or conversion or exchange of Securities of such series herein expressly provided for), and the Trustee, upon receipt of a Company
Order, and at the expense of the Company, shall execute instruments in form and substance satisfactory to the Trustee and the
Company acknowledging satisfaction and discharge of this Indenture as to such series when

 

(1)
either

 

(A)
all Securities of such series theretofore authenticated and delivered and all coupons, if any, appertaining thereto (other than
(i) coupons appertaining to Bearer Securities surrendered for exchange for Registered Securities and maturing after such exchange,
whose surrender is not required or has been waived as provided in Section 305, (ii) Securities and coupons of such series which
have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 306, (iii) coupons appertaining
to Securities called for redemption and maturing after the relevant Redemption Date, whose surrender has been waived as provided
in Section 1106, and (iv) Securities and coupons of such series for whose payment money has theretofore been deposited in trust
or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided
in Section 1003) have been delivered to the Trustee for cancellation; or

 

(B)
all Securities of such series and, in the case of (i) or (ii) below, any coupons appertaining thereto not theretofore delivered
to the Trustee for cancellation

 

(i)
have become due and payable, or

 

    	23

    	 

    

 

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

 

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

 

and
the Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be deposited with the Trustee as
trust funds in trust for the purpose an amount in the currency or currencies, currency unit or units or composite currency or
currencies in which the Securities of such series are payable, sufficient to pay and discharge the entire indebtedness on such
Securities and such coupons not theretofore delivered to the Trustee for cancellation, for principal (and premium or Make-Whole
Amount, if any) and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the
Stated Maturity or Redemption Date, as the case may be;

 

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

 

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

 

Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee and any predecessor Trustee under
Section 606, the obligations of the Company to any Authenticating Agent under Section 611 and, if money shall have been deposited
with and held by the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations of the Trustee under Section
402 and the last paragraph of Section 1003 shall survive such satisfaction and discharge.

 

SECTION
402. Application of Trust Funds. Subject to the provisions of the last paragraph of Section 1003, all money deposited with
the Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the provisions of the Securities,
the coupons and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its
own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium or Make-Whole Amount,
if any), and any interest for whose payment such money has been deposited with or received by the Trustee, but such money need
not be segregated from other funds except to the extent required by law.

 

ARTICLE
FIVE - REMEDIES

 

SECTION
501. Events of Default. “Event of Default,” wherever used herein with respect to any particular series of Securities,
means any one of the following events (whatever the reason for such Event of Default and whether or not it shall be voluntary
or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule
or regulation of any administrative or governmental body):

 

(1)
default in the payment of any interest on any Security of that series or of any coupon appertaining thereto, when such interest
or coupon becomes due and payable, and continuance of such default for a period of 30 days; or

 

(2)
default in the payment of the principal of (or premium or Make-Whole Amount, if any, on) any Security of that series when it becomes
due and payable at its Maturity; or

 

(3)
default in the deposit of any sinking fund payment, to the extent applicable to such series of Securities, when and as due by
the terms of any Security of that series; or

 

(4)
default in the performance, or breach, of any covenant or warranty of the Company in this Indenture with respect to any Security
of that series (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section
specifically dealt with or which has expressly been included in this Indenture solely for the benefit of a series of Securities
other than that series), and continuance of such default or breach for a period of 60 days after there has been given, by registered
or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal
amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be
remedied and stating that such notice is a “Notice of Default” hereunder; or

 

    	24

    	 

    

 

(5)
default under any bond, debenture, note, mortgage, indenture or instrument under which there may be issued or by which there may
be secured or evidenced any indebtedness for money borrowed by the Company, having an aggregate principal amount outstanding of
at least $75,000,000, whether such indebtedness now exists or shall hereafter be created, which default shall have resulted in
such indebtedness becoming or being declared due and payable prior to the date on which it would otherwise have become due and
payable, without such indebtedness having been discharged, or such acceleration having been rescinded or annulled, within a period
of 30 days after there shall have been given, by registered or certified mail, to the Company by the Trustee or to the Company
and the Trustee by the Holders of at least 10% in principal amount of the Outstanding Securities of that series a written notice
specifying such default and requiring the Company to cause such indebtedness to be discharged or cause such acceleration to be
rescinded or annulled and stating that such notice is a “Notice of Default” hereunder; provided, however,
that, subject to the provisions of Sections 601 and 602, the Trustee shall not be deemed to have knowledge of such default unless
either (A) a Responsible Officer of the Trustee shall have knowledge of such default or (B) the Trustee shall have received written
notice thereof from the Company, from any Holder, from the holder of any such indebtedness or from the trustee under any such
mortgage, indenture or other instrument; or

 

(6)
the Company pursuant to or within the meaning of any Bankruptcy Law:

 

(A)
commences a voluntary case,

 

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

 

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

 

(D)
makes a general assignment for the benefit of its creditors; or

 

(7)
a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 

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

 

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

 

(C)
orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 90 days; or

 

(8)
any other Event of Default provided with respect to Securities of that series.

 

As
used in this Section 501, the term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or state law
for the relief of debtors and the term “Custodian” means any receiver, trustee, assignee, liquidator or other similar
official under any Bankruptcy Law.

 

SECTION
502. Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series
at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25%
in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if Securities of that Series
are Original Issue Discount Securities or Indexed Securities, such portion of the principal as may be specified in the terms thereof)
of all the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee
if given by the Holders), and upon any such declaration such principal or specified portion thereof shall become immediately due
and payable.

 

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

 

(1)
the Company has paid or deposited with the Trustee a sum sufficient to pay in the currency, currency unit or composite currency
in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of
such series):

 

(A)
all overdue installments of interest on all Outstanding Securities of that series and any related coupons,

 

(B)
the principal of (and premium or Make-Whole Amount, if any, on) any Outstanding Securities of that series which have become due
otherwise than by such declaration of acceleration and interest thereon at the rate or rates borne by or provided for in such
Securities,

 

(C)
to the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates borne
by or provided for in such Securities, and

 

    	25

    	 

    

 

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

 

(2)
all Events of Default with respect to Securities of that series, other than the nonpayment of the principal of (or premium or
Make-Whole Amount, if any) or interest on Securities of that series which have become due solely by such declaration of acceleration,
have been cured or waived as provided in Section 513.

 

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

 

SECTION
503. Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if:

 

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

 

(2)
default is made in the payment of the principal of (or premium or Make-Whole Amount, if any, on) any Security of any series at
its Maturity,

 

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

 

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

 

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

 

SECTION
504. Trustee May File Proofs of Claim. In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor
upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether
the principal of the Securities of any series shall then be due and payable as therein expressed or by declaration or otherwise
and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal, premium
or Make-Whole Amount, if any, or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise:

 

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

 

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

 

and
any custodian, receiver, assignee, trustee, liquidator, sequestrator (or other similar official) in any such judicial proceeding
is hereby authorized by each Holder of Securities of such series and coupons to make such payments to the Trustee, and in the
event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount
due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee and any predecessor Trustee, their
agents and counsel, and any other amounts due the Trustee or any predecessor Trustee under Section 606.

 

    	26

    	 

    

 

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

 

In
any proceedings brought by the Trustee (and also any proceedings involving the interpretation of any provision of this Indenture
to which the Trustee shall be a party) the Trustee shall be held to represent all the Holders of the Securities, and it shall
not be necessary to make any Holders of the Securities parties to any such proceedings.

 

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

 

SECTION
506. Application of Money Collected. Any money collected by the Trustee pursuant to this Article shall be applied in the
following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal
(or premium or Make-Whole Amount, if any) or interest, upon presentation of the Securities or coupons, or both, as the case may
be, and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 

FIRST:
To the payment of all amounts due the Trustee and any predecessor Trustee under Section 606;

 

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

 

THIRD:
To the payment of the remainder, if any, to the Company.

 

SECTION
507. Limitation on Suits. No Holder of any Security of any series or any related coupon shall have any right to institute
any proceeding, judicial or otherwise, with respect to this Indenture or the Securities or any related coupon, or for the appointment
of a receiver or trustee, or for any other remedy hereunder, unless:

 

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

 

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

 

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

 

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

 

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

 

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

 

SECTION
508. Unconditional Right of Holders to Receive Principal, Premium or Make-Whole Amount, if any, and Interest. Notwithstanding
any other provision in this Indenture, the Holder of any Security or coupon shall have the right which is absolute and unconditional
to receive payment of the principal of (and premium or Make-Whole Amount, if any) and (subject to Sections 305 and 307) interest
on such Security or payment of such coupon on the respective due dates expressed in such Security or coupon (or, in the case of
redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such rights shall not be
impaired without the consent of such Holder.

 

    	27

    	 

    

 

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

 

SECTION
510. Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities or coupons in the last paragraph of Section 306, no right or remedy herein conferred upon
or reserved to the Trustee or to the Holders of Securities or coupons is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy
given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

SECTION
511. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Security or coupon to exercise
any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such
Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders
may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders of Securities or
coupons, as the case may be.

 

SECTION
512. Control by Holders of Securities. The Holders of not less than a majority in principal amount of the Outstanding Securities
of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available
to the Trustee or exercising any trust or power conferred on the Trustee with respect to the Securities of such series, provided
that:

 

(1)
such direction shall not be in conflict with any rule of law or with this Indenture,

 

(2)
the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and

 

(3)
the Trustee need not take any action which might involve it in personal liability or be unduly prejudicial to the Holders of Securities
of such series not joining therein.

 

Nothing
in this Indenture shall impair the right of the Trustee in its discretion to take any action deemed proper by the Trustee and
which is not inconsistent with such direction by Holders.

 

SECTION
513. Waiver of Past Defaults. The Holders of not less than a majority in principal amount of the Outstanding Securities
of any series may on behalf of the Holders of all the Securities of such series and any related coupons waive any past default
hereunder with respect to such series and its consequences, except a default

 

(1)
in the payment of the principal of (or premium or Make-Whole Amount, if any) or interest on any Security of such series or any
related coupons, or

 

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

 

(3)
in respect of a covenant or provision hereof for the benefit or protection of the Trustee, without its express written consent.

 

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

 

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

 

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

 

ARTICLE
SIX - THE TRUSTEE

 

SECTION
601. Notice of Defaults. Within 90 days after the occurrence of any default hereunder with respect to the Securities of
any series, the Trustee shall transmit in the manner and to the extent provided in TIA Section 313(c), notice of such default
hereunder known to the Trustee, unless such default shall have been cured or waived; provided, however, that, except
in the case of a default in the payment of the principal of (or premium or Make-Whole Amount, if any) or interest on any Security
of such series, or in the payment of any sinking or purchase fund installment with respect to the Securities of such series, the
Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a
trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice
is in the interests of the Holders of the Securities and coupons of such series; and provided further that in the case
of any default or breach of the character specified in Section 501(4) with respect to the Securities and coupons of such series,
no such notice to Holders shall be given until at least 60 days after the occurrence thereof. For the purpose of this Section,
the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default
with respect to the Securities of such series.

 

SECTION
602. Certain Rights of Trustee. Subject to the provisions of TIA Section 315(a) through 315(d):

 

(1)
the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper
or 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 party or parties;

 

(2)
any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order
(other than delivery of any Security, together with any coupons appertaining thereto, to the Trustee for authentication and delivery
pursuant to Section 303 which shall be sufficiently evidenced as provided therein) and any resolution of the Board of Directors
may be sufficiently evidenced by a Board Resolution;

 

(3)
whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior
to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may,
in the absence of bad faith on its part, rely upon an Officers’ Certificate;

 

(4)
the Trustee may consult with counsel of its own selection and the written advice of such counsel or any Opinion of Counsel shall
be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good
faith and in reliance thereon;

 

(5)
the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request
or direction of any of the Holders of Securities of any series or any related coupons pursuant to this Indenture, unless such
Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against the costs, expenses
and liabilities which might be incurred by it in compliance with such request or direction;

 

    	29

    	 

    

 

(6)
the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper or document,
unless requested in writing so to do by the Holders of not less than a majority in aggregate principal amount of the Outstanding
Securities of any series; provided that, if the payment within a reasonable time to the Trustee of the costs, expenses
or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably
assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity
against such expenses or liabilities as a condition to proceeding; the reasonable expenses of every such examination shall be
paid by the Holders or, if paid by the Trustee, shall be repaid by the Holders upon demand. The Trustee, in its discretion, may
make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to
make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, relevant
to the facts or matters that are the subject of its inquiry, personally or by agent or attorney at the expense of the Company
and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation;

 

(7)
the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through
agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney
appointed with due care by it hereunder;

 

(8)
the Trustee shall not be liable for any action taken, suffered or omitted by it in good faith and reasonably believed by it to
be authorized or within the discretion or rights or powers conferred upon it by this Indenture;

 

(9)
any permissive right or power available to the Trustee under this Indenture or any supplement hereto shall not be construed to
be a mandatory duty or obligation;

 

(10)
the Trustee shall not be charged with knowledge of any matter (including any default, other than as described in Section 501(1),
(2) or (3)) unless and except to the extent actually known to a Responsible Officer of the Trustee or to the extent written notice
thereof is received by the Trustee at the Corporate Trust Office;

 

(11)
the Trustee shall have no liability for any inaccuracy in the books and records of, or for any actions or omissions of, DTC, Euroclear
or Clearstream or any depository acting on behalf of any of them;

 

(12)
the rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to
be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent,
custodian and other Person employed by the Trustee to act hereunder; and

 

(13)
the Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or
titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate
may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as so authorized
in any such certificate previously delivered and not superseded.

 

The
Trustee shall not be required to expend or risk its own funds or otherwise incur any financial liability in the performance of
any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing
that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

 

Except
during the continuance of an Event of Default, the Trustee undertakes to perform only such duties as are specifically set forth
in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee.

 

SECTION
603. Not Responsible for Recitals or Issuance of Securities. The recitals contained herein and in the Securities, except
the Trustee’s certificate of authentication, and in any coupons shall be taken as the statements of the Company, and neither
the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations
as to the validity or sufficiency of this Indenture or of the Securities or coupons, except that the Trustee represents that it
is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder. Neither
the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of Securities or the proceeds
thereof. The Trustee shall have no responsibility with respect to any information, statement or recital in any offering prospectus
or other disclosure materials prepared or distributed with respect to the Securities.

 

SECTION
604. May Hold Securities. The Trustee, any Paying Agent, Security Registrar, Authenticating Agent or any other agent of
the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and coupons and, subject to
TIA Sections 310(b) and 311, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying
Agent, Security Registrar, Authenticating Agent or such other agent.

 

    	30

    	 

    

 

SECTION
605. Money Held in Trust. Money held by the Trustee in trust hereunder need not be segregated from other funds except to
the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except
as otherwise agreed in writing with the Company.

 

SECTION
606. Compensation and Reimbursement. The Company agrees:

 

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

 

(2)
except as otherwise expressly provided herein, to reimburse each of the Trustee and any predecessor Trustee upon its request for
all reasonable expenses, and disbursements incurred by the Trustee in accordance with any provision of this Indenture (including
the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel), except any such expense
or disbursement as shall be determined to have been caused by its own negligence, willful misconduct or bad faith; and

 

(3)
to indemnify each of the Trustee and any predecessor Trustee for, and to hold it harmless against, any loss, liability, claim,
damage or expense incurred without negligence, willful misconduct or bad faith on its part, arising out of or in connection with
the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against
any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder.

 

When
the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 501(7) or Section
501(8), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are
intended to constitute expenses of administration under any applicable Federal or state bankruptcy, insolvency or other similar
law.

 

As
security for the performance of the obligations of the Company under this Section, the Trustee shall have a lien for payment of
the Trustee’s fees and expenses prior to the Securities upon all property and funds held or collected by the Trustee as
such, except funds held in trust for the payment of principal of (or premium or Make-Whole Amount, if any) or interest on particular
Securities or any coupons.

 

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

 

SECTION
607. Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at all times be a Trustee hereunder which
shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have at all times a combined capital and surplus of
at least $50,000,000 (or which shall have a combined capital and surplus of at least $10,000,000 and whose ultimate parent holding
company shall have a combined capital and surplus of at least $50,000,000. If the Trustee publishes reports of condition at least
annually, pursuant to law or the requirements of Federal, state, territorial or District of Columbia supervising or examining
authority, then for the purposes of this Section, the combined capital and surplus of the Trustee shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to
be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter
specified in this Article. Neither the Company nor any Person directly or indirectly controlling, controlled by, or under common
control with the Company shall serve as Trustee.

 

SECTION
608. Resignation and Removal; Appointment of Successor.

 

(a)
No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective
until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 609.

 

(b)
The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the
Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 60 days after
the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the Company, any court of competent
jurisdiction for the appointment of a successor Trustee.

 

(c)
The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal
amount of the Outstanding Securities of such series delivered to the Trustee and to the Company. If an instrument of acceptance
by a successor Trustee shall not have been delivered to the Trustee within 60 days after the giving of such notice of resignation,
the resigning Trustee may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of
a successor Trustee.

 

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(d)
If at any time:

 

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

 

(2)
the Trustee shall cease to be eligible under Section 607 and shall fail to resign after written request therefor by the Company
or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months, or

 

(3)
the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its
property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for
the purpose of rehabilitation, conservation or liquidation,

 

then,
in any such case, (i) the Company by or pursuant to a Board Resolution may remove the Trustee and appoint a successor Trustee
with respect to all Securities, or (ii) subject to TIA Section 315(e), any Holder of a Security who has been a bona fide Holder
of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees.

 

(e)
If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for
any cause with respect to the Securities of one or more series, the Company, by or pursuant to a Board Resolution, shall promptly
appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such
successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there
shall be only one Trustee with respect to the Securities of any particular series). If, within one year after such resignation,
removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall
be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to
the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment,
become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee
appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by
the Company or the Holders of Securities and accepted appointment in the manner hereinafter provided, any Holder of a Security
who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others
similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to Securities
of such series.

 

(f)
The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series
and each appointment of a successor Trustee with respect to the Securities of any series in the manner provided for notices to
the Holders of Securities in Section 106. Each notice shall include the name of the successor Trustee with respect to the Securities
of such series and the address of its Corporate Trust Office.

 

SECTION
609. Acceptance of Appointment by Successor.

 

(a)
In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed
shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and
thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further
act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on request
of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument
transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee, and shall duly assign, transfer
and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder, subject nevertheless to
its claim, if any, provided for in Section 606.

 

    	32

    	 

    

 

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

 

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

 

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

 

SECTION
610. Merger, Conversion, Consolidation or Succession to Business. Any corporation into which the Trustee may be merged
or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to
which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business
of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified
and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties
hereto. In case any Securities or coupons shall have been authenticated, but not delivered, by the Trustee then in office, any
successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the
Securities or coupons so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities
or coupons. In case any Securities or coupons shall not have been authenticated by such predecessor Trustee, any such successor
Trustee may authenticate and deliver such Securities or coupons, in either its own name or that of its predecessor Trustee, with
the full force and effect which this Indenture provides for the certificate of authentication of the Trustee.

 

SECTION
611. Appointment of Authenticating Agent. At any time when any of the Securities remain Outstanding, the Trustee may appoint
an Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on behalf
of the Trustee to authenticate Securities of such series issued upon conversion or exchange, registration of transfer or partial
redemption or repayment thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall
be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Any such appointment shall be evidenced
by an instrument in writing signed by a Responsible Officer of the Trustee, a copy of which instrument shall be promptly furnished
to the Company. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or
the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf
of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating
Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a bank or trust company or corporation
organized and doing business and in good standing under the laws of the United States of America or of any state or the District
of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than
$50,000,000 and subject to supervision or examination by Federal or state authorities. If such Authenticating Agent publishes
reports of condition at least annually, pursuant to law or the requirements of the aforesaid supervising or examining authority,
then for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so published. In case at any time an Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately
in the manner and with the effect specified in this Section.

 

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

 

    	33

    	 

    

 

An
Authenticating Agent for any series of Securities may at any time resign by giving written notice of resignation to the Trustee
for such series and to the Company. The Trustee for any series of Securities may at any time terminate the agency of an Authenticating
Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon receiving such a notice of
resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance
with the provisions of this Section, the Trustee for such series may appoint a successor Authenticating Agent which shall be acceptable
to the Company and shall give notice of such appointment to all Holders of Securities of the series with respect to which such
Authenticating Agent will serve in the manner set forth in Section 106. Any successor Authenticating Agent upon acceptance of
its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect
as if originally named as an Authenticating Agent herein. No successor Authenticating Agent shall be appointed unless eligible
under the provisions of this Section.

 

The
Company agrees to pay to each Authenticating Agent from time to time reasonable compensation including reimbursement of its reasonable
expenses for its services under this Section, subject to Section 606.

 

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

 

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

 

	 	 	 	 
	 	 	 	as Trustee
	 	 	 	 	 
	Dated:	 	 	By:	 
	 	 	 	 	as
    Authenticating Agent
	 	 	 	 	 
	Dated:	 	 	By:	 
	 	 	 	 	as
    Authenticating Agent

 

SECTION
612. Certain Duties and Responsibilities of the Trustee.

 

(a)
With respect to the Securities of any series, except during the continuance of an Event of Default with respect to the Securities
of such series:

 

(1)
the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and

 

(2)
in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to
be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to
the requirements of this Indenture, but shall not be under any duty to verify the contents or accuracy thereof.

 

(b)
In case an Event of Default with respect to the Securities of any series has occurred and is continuing, the Trustee shall, with
respect to Securities of such series, exercise such of 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 man would exercise or use under the circumstances in the conduct of his
own affairs.

 

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

 

(1)
this Subsection shall not be construed to limit the effect of Subsection (a) of this Section;

 

(2)
the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved
that the Trustee was negligent in ascertaining the pertinent facts;

 

(3)
the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with
the direction of the Holders of a majority in principal amount of the Outstanding Securities of any series relating to the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred
upon the Trustee, under this Indenture with respect to the Securities of such series; and

 

    	34

    	 

    

 

(4)
no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability
in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured
to it; and, the Trustee shall be under no obligation to exercise any of its rights and powers under this Indenture at the request
of any Holder, unless such Holder shall have offered to the Trustee security and indemnity satisfactory to it against any loss,
liability or expense.

 

(d)
Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability
of or affording protection to the Trustee shall be subject to the provisions of this Section 612.

 

(e)
The Trustee shall not be liable for interest on any money or assets held by it except to the extent the Trustee may agree in writing
with the Company. Assets held in trust by the Trustee need not be segregated from other assets except to the extent required by
law.

 

ARTICLE
SEVEN - HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

SECTION
701. Disclosure of Names and Addresses of Holders. Every Holder of Securities or coupons, by receiving and holding the
same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any Authenticating Agent nor any Paying
Agent nor any Security Registrar shall be held accountable by reason of the disclosure of any information as to the names and
addresses of the Holders of Securities in accordance with TIA Section 312, regardless of the source from which such information
was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under
TIA Section 312(b).

 

SECTION
702. Reports by Trustee. The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under
this Indenture as may be required by TIA Section 313 at the times and in the manner provided by the TIA, which shall initially
be not less than every twelve months commencing on                   , 20         . A copy of each such report shall, at the time of such transmission to
Holders, be filed by the Trustee with each over-the-counter market or securities exchange, if any, upon which any Securities are
quoted or listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are quoted
or listed on any over-the-counter market or securities exchange or delisted therefrom.

 

SECTION
703. Reports by Company. The Company will:

 

(1)
file with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies of the annual
reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission
may from time to time by rules and regulations prescribe) which the Company may be required to file with the Commission pursuant
to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports
pursuant to either of such Sections, then it will file with the Trustee and the Commission, in accordance with rules and regulations
prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports which
may be required pursuant to Section 13 of the Exchange Act in respect of a security quoted or listed and registered on an over-the-counter
market or national securities exchange as may be prescribed from time to time in such rules and regulations;

 

(2)
file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission,
such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants
of this Indenture as may be required from time to time by such rules and regulations;

 

(3)
transmit by mail to the Holders of Securities, within 30 days after the filing thereof with the Trustee, in the manner and to
the extent provided in TIA Section 313(c), such summaries of any information, documents and reports required to be filed by the
Company pursuant to paragraphs (1) and (2) of this Section as may be required by rules and regulations prescribed from time to
time by the Commission; and

 

(4)
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).

 

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SECTION
704. Company to Furnish Trustee Names and Addresses of Holders. The Company will furnish or cause to be furnished to the
Trustee:

 

(a)
semiannually, not later than 15 days after the Regular Record Date for interest for each series of Securities, a list, in such
form as the Trustee may reasonably require, of the names and addresses of the Holders of Registered Securities of such series
as of such Regular Record Date, or if there is no Regular Record Date for interest for such series of Securities, semiannually,
upon such dates as are set forth in the Board Resolution or indenture supplemental hereto authorizing such series, and

 

(b)
at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request,
a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished, provided,
however, that, so long as the Trustee is the Security Registrar, no such list shall be required to be furnished.

 

ARTICLE
EIGHT - CONSOLIDATION, MERGER, SALE, LEASE OR CONVEYANCE

 

SECTION
801. Consolidations and Mergers of Company and Sales, Leases and Conveyances Permitted Subject to Certain Conditions. The
Company may consolidate with, or sell, lease or convey all or substantially all of its assets to, or merge with or into any other
corporation, provided that in any such case, (1) either the Company shall be the continuing corporation, or the successor corporation
shall be a corporation organized and existing under the laws of the United States or a State thereof and such successor corporation
shall expressly assume the due and punctual payment of the principal of (and premium or Make-Whole Amount, if any) and any interest
on all of the Securities, according to their tenor, and the due and punctual performance and observance of all of the covenants
and conditions of this Indenture to be performed by the Company by supplemental indenture, complying with Article Nine hereof,
satisfactory to the Trustee, executed and delivered to the Trustee by such corporation, (2) immediately after giving effect to
such transaction and treating any indebtedness which becomes an obligation of the Company as a result thereof as having been incurred
by the Company at the time of such transaction, no Event of Default, and no event which, after notice or the lapse of time, or
both, would become an Event of Default, shall have occurred and be continuing and (3) the Company shall have delivered to the
Trustee the Officer’s Certificate and Opinion of Counsel required pursuant to Section 803 below.

 

SECTION
802. Rights and Duties of Successor Corporation. In case of any such consolidation, merger, sale, lease or conveyance and
upon any such assumption by the successor corporation, such successor corporation shall succeed to and be substituted for the
Company, with the same effect as if it had been named herein as the party of the first part, and the predecessor corporation,
except in the event of a lease, shall be relieved of any further obligation under this Indenture and the Securities. Such successor
corporation thereupon may cause to be signed, and may issue either in its own name or in the name of the Company, any or all of
the Securities issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and,
upon the order of such successor corporation, instead of the Company, and subject to all the terms, conditions and limitations
in this Indenture prescribed, the Trustee shall authenticate and shall deliver any Securities which previously shall have been
signed and delivered by the officers of the Company to the Trustee for authentication, and any Securities which such successor
corporation thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Securities so issued shall
in all respects have the same legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued in
accordance with the terms of this Indenture as though all of such Securities had been issued at the date of the execution hereof.

 

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

 

SECTION
803. Officers’ Certificate and Opinion of Counsel. Any consolidation, merger, sale, lease or conveyance permitted
under Section 801 is also subject to the condition that the Trustee receive an Officers’ Certificate and an Opinion of Counsel
to the effect that any such consolidation, merger, sale, lease or conveyance, and the assumption by any successor corporation,
complies with the provisions of this Article and that all conditions precedent herein provided for relating to such transaction
have been complied with.

 

    	36

    	 

    

 

ARTICLE
NINE - SUPPLEMENTAL INDENTURES

 

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

 

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

 

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

 

(3)
to add any additional Events of Default for the benefit of the Holders of all or any series of Securities (and if such Events
of Default are to be for the benefit of less than all series of Securities, stating that such Events of Default are expressly
being included solely for the benefit of such series); provided, however, that in respect of any such additional
Events of Default such supplemental indenture may provide for a particular period of grace after default (which period may be
shorter or longer than that allowed in the case of other defaults) or may provide for an immediate enforcement upon such default
or may limit the remedies available to the Trustee upon such default or may limit the right of the Holders of a majority in aggregate
principal amount of that or those series of Securities to which such additional Events of Default apply to waive such default;
or

 

(4)
to add to or change any of the provisions of this Indenture to provide that Bearer Securities may be registrable as to principal,
to change or eliminate any restrictions on the payment of principal of or premium or Make-Whole Amount, if any, or interest on
Bearer Securities, to permit Bearer Securities to be issued in exchange for Registered Securities, to permit Bearer Securities
to be issued in exchange for Bearer Securities of other authorized denominations or to permit or facilitate the issuance of Securities
in uncertificated form, provided that any such action shall not adversely affect the interests of the Holders of Securities
of any series or any related coupons in any material respect; or

 

(5)
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 Security Outstanding of any series created prior to the execution of such supplemental indenture
which is entitled to the benefit of such provision; or

 

(6)
to secure the Securities; or

 

(7)
to establish the form or terms of Securities of any series and any related coupons as permitted or contemplated by Sections 201
and 301; or

 

(8)
to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one
or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee; or

 

(9)
to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other provision
herein, or to make any other provisions with respect to matters or questions arising under this Indenture which shall not be inconsistent
with the provisions of this Indenture, provided such provisions shall not adversely affect the interests of the Holders
of Securities of any series or any related coupons in any material respect; or

 

(10)
to supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the Defeasance
and discharge of any series of Securities pursuant to Sections 401, 1402 and 1403; provided that any such action shall
not adversely affect the interests of the Holders of Securities of such series and any related coupons or any other series of
Securities in any material respect; or

 

(11)
to make provisions with respect to Holders’ rights of conversion with respect to any series of Securities pursuant to Article
Seventeen.

 

    	37

    	 

    

 

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

 

(1)
change the Stated Maturity of the principal of (or premium or Make-Whole Amount, if any, on) or any installment of principal of
or interest on, any Security; or reduce the principal amount thereof or the rate or amount of interest thereon, or any premium
or Make-Whole Amount payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount
Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502 or the
amount thereof provable in bankruptcy pursuant to Section 504, or adversely affect any right of repayment at the option of the
Holder of any Security, or change any Place of Payment where, or the currency or currencies, currency unit or units or composite
currency or currencies in which, any Security or any premium or Make-Whole Amount or the interest thereon is payable, or impair
the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of
redemption or repayment at the option of the Holder, on or after the Redemption Date or the Repayment Date, as the case may be),
or (if Securities of such series are convertible) adversely affect the right of the Holder to convert any Security as provided
in Article Seventeen, or modify the provisions of this Indenture with respect to the subordination of the Securities in a manner
materially adverse to the Holders; or

 

(2)
reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required
for any such supplemental indenture, or the consent of whose Holders is required for any waiver with respect to such series (or
compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this
Indenture, or reduce the requirements of Section 1504 for quorum or voting, or

 

(3)
modify any of the provisions of this Section, Section 513 or Section 1009, except to increase the required percentage to effect
such action or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of
the Holder of each Outstanding Security affected thereby, provided, however, that this clause shall not be deemed
to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes
in this Section 902 and Section 1009, or the deletion of this proviso, in accordance with the requirements of Sections 609(b)
and 901(11).

 

It
shall not be necessary for any Act of Holders under this Section 902 to approve the particular form of any proposed supplemental
indenture, but it shall be sufficient if such Act shall approve the substance thereof.

 

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

 

SECTION
903. Execution of Supplemental Indentures. In executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article or the modification thereby of the trusts created by this Indenture, the Trustee shall be
entitled to receive, and (subject to Section 612) shall be fully protected in relying upon, an Opinion of Counsel stating that
the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated
to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture
or otherwise.

 

SECTION
904. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article, this Indenture
shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes;
and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder and of any coupon appertaining
thereto shall be bound thereby.

 

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

 

SECTION
906. Reference in Securities to Supplemental Indentures. Securities of any series authenticated and delivered after the
execution of any supplemental indenture pursuant to this Article may, and shall, if required by the Trustee, bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine,
new Securities of any series so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental
indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding
Securities of such series.

 

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ARTICLE
TEN - COVENANTS

 

SECTION
1001. Payment of Principal, Premium or Make-Whole Amount, if any; and Interest. The Company covenants and agrees for the
benefit of the Holders of each series of Securities that it will duly and punctually pay the principal of (and premium or Make-Whole
Amount, if any) and interest on the Securities of that series in accordance with the terms of such series of Securities, any coupons
appertaining thereto and this Indenture. Unless otherwise specified as contemplated by Section 301 with respect to any series
of Securities, any interest due on Bearer Securities on or before Maturity shall be payable only upon presentation and surrender
of the several coupons for such interest installments as are evidenced thereby as they severally mature. Unless otherwise specified
with respect to Securities of any series pursuant to Section 301, at the option of the Company (upon written notice to the Trustee),
all payments of principal may be paid by check to the registered Holder of the Registered Security or other Person entitled thereto
against surrender of such Security.

 

SECTION
1002. Maintenance of Office or Agency. If Securities of a series are issuable only as Registered Securities, the Company
shall maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be
presented or surrendered for payment or conversion, where Securities of that series may be surrendered for registration of transfer
or conversion or exchange and where notices and demands to or upon the Company in respect of the Securities of that series and
this Indenture may be served. If Securities of a series are issuable as Bearer Securities, the Company will maintain: (A) in the
Borough of Manhattan, The City of New York, an office or agency where any Registered Securities of that series may be presented
or surrendered for payment or conversion, where any Registered Securities of that series may be surrendered for registration of
transfer, where Securities of that series may be surrendered for conversion or exchange, where notices and demands to or upon
the Company in respect of the Securities of that series and this Indenture may be served and where Bearer Securities of that series
and related coupons may be presented or surrendered for payment or conversion in the circumstances described in the following
paragraph (and not otherwise); (B) subject to any laws or regulations applicable thereto, in a Place of Payment for that series
which is located outside the United States, an office or agency where Securities of that series and related coupons may be presented
and surrendered for payment; provided, however, that if the Securities of that series are listed on any stock exchange
located outside the United States and such stock exchange shall so require, the Company will maintain a Paying Agent for the Securities
of that series in any required city located outside the United States, as the case may be, so long as the Securities of that series
are listed on such exchange; and (C) subject to any laws or regulations applicable thereto, in a Place of Payment for that series
located outside the United States an office or agency where any Registered Securities of that series may be surrendered for registration
of transfer, where Securities of that series may be surrendered for conversion or exchange and where notices and demands to or
upon the Company in respect of the Securities of that series and this Indenture may be served. The Company will give prompt written
notice to the Trustee of the location, and any change in the location, of each 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, except that
Bearer Securities of that series and the related coupons may be presented and surrendered for payment or conversion at the offices
specified in the Security, in London, England, and the Company hereby appoints the same as its agent to receive such respective
presentations, surrenders, notices and demands, and the Company hereby appoints the Trustee its agent to receive all such presentations,
surrenders, notices and demands.

 

Unless
otherwise specified with respect to any Securities pursuant to Section 301, no payment of principal, premium or Make-Whole Amount
or interest on Bearer Securities shall be made at any office or agency of the Company in the United States or by check mailed
to any address in the United States or by transfer to an account maintained with a bank located in the United States; provided,
however, that, if the Securities of a series are payable in Dollars, payment of principal of and any premium or Make-Whole
Amount and interest on any Bearer Security shall be made at the office of the Company’s Paying Agent in the Borough of Manhattan,
The City of New York, if (but only if) payment in Dollars of the full amount of such principal, premium or Make-Whole Amount,
or interest, as the case may be, at all offices or agencies outside the United States maintained for the purpose by the Company
in accordance with this Indenture, is illegal or effectively precluded by exchange controls or other similar restrictions.

 

The
Company may from time to time designate one or more other offices or agencies (in or outside the Place of Payment) where the Securities
of one or more series may be presented or surrendered for any or all of such purposes, and may from time to time rescind such
designations; provided, however, that no such designation or rescission shall in any manner relieve the Company
of its obligation to maintain an office or agency in accordance with the requirements set forth above for Securities of any series
for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any
change in the location of any such other office or agency. Unless otherwise specified with respect to any Securities pursuant
to Section 301 with respect to a series of Securities, the Company hereby designates as a Place of Payment for each series of
Securities, each of (i) the office or agency of the Company in the Borough of Manhattan, The City of New York, and (ii) the Corporate
Trust Office of the Trustee (as Paying Agent); and the Company hereby initially appoints the Trustee at its Corporate Trust Office
as Paying Agent in such city; and the Company hereby initially appoints as its agent to receive all such presentations, surrenders,
notices and demands each of the Trustee, at its Corporate Trust Office.

 

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Unless
otherwise specified with respect to any Securities pursuant to Section 301, if and so long as the Securities of any series (i)
are denominated in a Foreign Currency or (ii) may be payable in a Foreign Currency, or so long as it is required under any other
provision of the Indenture, then the Company will maintain with respect to each such series of Securities, or as so required,
at least one exchange rate agent (of which it shall give written notice to the Trustee).

 

SECTION
1003. Money for Securities Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent with
respect to any series of any Securities and any related coupons, it will, on or before each due date of the principal of (and
premium or Make-Whole Amount, if any), or interest on any of the Securities of that series, segregate and hold in trust for the
benefit of the Persons entitled thereto a sum in the currency or currencies, currency unit or units or composite currency or currencies
in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of
such series) sufficient to pay the principal (and premium or Make-Whole Amount, if any) or interest so becoming due until such
sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action
or failure so to act.

 

Whenever
the Company shall have one or more Paying Agents for any series of Securities and any related coupons, it will, on or before each
due date of the principal of (and premium or Make-Whole Amount, if any), or interest on any Securities of that series, deposit
with a Paying Agent a sum (in the currency or currencies, currency unit or units or composite currency or currencies described
in the preceding paragraph) sufficient to pay the principal (and premium or Make-Whole Amount, if any) or interest so becoming
due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or Make-Whole Amount, if
any, or interest and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure
so to act.

 

The
Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee
an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying
Agent will

 

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

 

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

 

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

 

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

 

Except
as otherwise provided in the Securities of any series, and subject to applicable laws, any money deposited with the Trustee or
any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium or Make-Whole Amount,
if any) or interest on any Security of any series and remaining unclaimed for two years after such principal (and premium or Make-Whole
Amount, if any) or interest has become due and payable shall be paid to the Company upon Company Request or (if then held by the
Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor,
look only to the Company for payment of such principal of (and premium or Make-Whole Amount, if any) or interest on any Security,
without interest thereon, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability
of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent,
before being required to make any such repayment, may at the expense of the Company cause to be published once, in an Authorized
Newspaper, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30
days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.

 

SECTION
1004. Existence. Subject to Article Eight, the Company will do or cause to be done all things necessary to preserve and
keep in full force and effect its corporate existence, all material rights (by certificate of incorporation, bylaws and statute)
and material franchises; provided, however, that the Company shall not be required to preserve any such right or
franchise if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the
business of the Company.

 

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SECTION
1005. Maintenance of Properties. The Company will cause all of its material properties used or useful in the conduct of
its business to be maintained and kept in good condition, repair and working order, normal wear and tear, casualty and condemnation
excepted, and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments
and improvements thereof (and the Company may take out of service for a period of time, any of its properties that have been condemned
or suffered any loss due to casualty in order to make such repairs, betterments and improvements), all as in the judgment of the
Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted
at all times; provided, however, that the Company shall not be prevented from (i) removing permanently any property
that has been condemned or suffered a loss due to casualty based on the Company’s reasonable judgment that such removal
is in the best interest of the Company, or (ii) selling or otherwise disposing of its properties for value in the ordinary course
of business.

 

SECTION
1006. Insurance. The Company will cause its insurable properties to be insured against loss or damage in an amount deemed
reasonable by the Board of Directors with insurers of recognized responsibility.

 

SECTION
1007. Payment of Taxes and Other Claims. The Company will pay or discharge or cause to be paid or discharged, before the
same shall become delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon it or upon the income,
profits or property of the Company, and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law
become a lien upon the property of the Company; provided, however, that the Company shall not be required to pay
or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity
is being contested in good faith by appropriate proceedings.

 

SECTION
1008. Statement as to Compliance. The Company will deliver to the Trustee, within 120 days after the end of each fiscal
year, a brief certificate from the principal executive officer, principal financial officer or principal accounting officer as
to his or her knowledge of the Company’s compliance with all conditions and covenants under this Indenture and, in the event
of any noncompliance, specifying such noncompliance and the nature and status thereof. For purposes of this Section 1008, such
compliance shall be determined without regard to any period of grace or requirement of notice under this Indenture.

 

SECTION
1009. Waiver of Certain Covenants. The Company may omit in any particular instance to comply with any term, provision or
condition set forth in Sections 1004 to 1008, inclusive, if before or after the time for such compliance the Holders of at least
a majority in principal amount of all outstanding Securities of such series, by Act of such Holders, either waive such compliance
in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such
covenant or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations
of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and
effect.

 

ARTICLE
ELEVEN - REDEMPTION OF SECURITIES

 

SECTION
1101. Applicability of Article. Securities of any series which are redeemable before their Stated Maturity shall be redeemable
in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for Securities of any series)
in accordance with this Article.

 

SECTION
1102. Election to Redeem; Notice to Trustee. The election of the Company to redeem any Securities shall be evidenced by
or pursuant to a Board Resolution. In case of any redemption at the election of the Company of less than all of the Securities
of any series, the Company shall, at least 45 days prior to the giving of the notice of redemption in Section 1104 (unless a shorter
notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities
of such series to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such
redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with
an Officers’ Certificate evidencing compliance with such restriction.

 

SECTION
1103. Selection by Trustee of Securities to Be Redeemed. If less than all the Securities of any series issued on the same
day with the same terms are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior
to the Redemption Date by the Trustee, from the Outstanding Securities of such series issued on such date with the same terms
not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for
the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral
multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized denomination
for Securities of that series.

 

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The
Trustee shall promptly notify the Company and the Security Registrar (if other than itself) in writing of the Securities selected
for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed.

 

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

 

SECTION
1104. Notice of Redemption. Notice of redemption shall be given in the manner provided in Section 106, not less than 30
days nor more than 60 days prior to the Redemption Date, unless a shorter period is specified by the terms of such series established
pursuant to Section 301, to each Holder of Securities to be redeemed, but failure to give such notice in the manner herein provided
to the Holder of any Security designated for redemption as a whole or in part, or any defect in the notice to any such Holder,
shall not affect the validity of the proceedings for the redemption of any other such Security or portion thereof.

 

Any
notice that is mailed to the Holders of Registered Securities in the manner herein provided shall be conclusively presumed to
have been duly given, whether or not the Holder receives the notice.

 

All
notices of redemption shall state:

 

(1)
the Redemption Date,

 

(2)
the Redemption Price, accrued interest to the Redemption Date payable as provided in Section 1106, if any,

 

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

 

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

 

(5)
that on the Redemption Date the Redemption Price and accrued interest to the Redemption Date payable as provided in Section 1106,
if any, will become due and payable upon each such Security, or the portion thereof, to be redeemed and, if applicable, that interest
thereon shall cease to accrue on and after said date,

 

(6)
the Place or Places of Payment where such Securities, together in the case of Bearer Securities with all coupons appertaining
thereto, if any, maturing after the Redemption Date, are to be surrendered for payment of the Redemption Price and accrued interest,
if any, or for conversion,

 

(7)
that the redemption is for a sinking fund, if such is the case,

 

(8)
that, unless otherwise specified in such notice, Bearer Securities of any series, if any, surrendered for redemption must be accompanied
by all coupons maturing subsequent to the date fixed for redemption or the amount of any such missing coupon or coupons will be
deducted from the Redemption Price, unless security or indemnity satisfactory to the Company, the Trustee for such series and
any Paying Agent is furnished,

 

(9)
if Bearer Securities of any series are to be redeemed and any Registered Securities of such series are not to be redeemed, and
if such Bearer Securities may be exchanged for Registered Securities not subject to redemption on this Redemption Date pursuant
to Section 305 or otherwise, the last date, as determined by the Company, on which such exchanges may be made,

 

(10)
the CUSIP number of such Security, if any, and

 

(11)
if applicable, that a Holder of Securities who desires to convert Securities for redemption must satisfy the requirements for
conversion contained in such Securities, the then existing conversion price or rate, the place or places where such Securities
may be surrendered for conversion, and the date and time when the option to convert shall expire.

 

Notice
of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request, by the Trustee in the name and at the expense of the Company.

 

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SECTION
1105. Deposit of Redemption Price. On or prior to any Redemption Date, the Company shall deposit with the Trustee or with
a Paying Agent (or, if the Company is acting as its own Paying Agent, which it may not do in the case of a sinking fund payment
under Article Twelve, segregate and hold in trust as provided in Section 1003) an amount of money in the currency or currencies,
currency unit or units or composite currency or currencies in which the Securities of such series are payable (except as otherwise
specified pursuant to Section 301 for the Securities of such series) sufficient to pay on the Redemption Date the Redemption Price
of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest on, all the Securities or portions
thereof which are to be redeemed on that date.

 

If
any Securities called for redemption are converted, any money deposited with the Trustee or with any Paying Agent or so segregated
and held in trust for the redemption of such Security shall be paid to the Company upon Company Request or, if then held by the
Company, shall be discharged from such trust.

 

SECTION
1106. Securities Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Securities so to
be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified in the currency or
currencies, currency unit or units or composite currency or currencies in which the Securities of such series are payable (except
as otherwise specified pursuant to Section 301 for the Securities of such series) (together with accrued interest, 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) such Securities shall, if the same were interest-bearing, cease to bear interest and the coupons for such interest
appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall be void. Upon surrender of
any such Security for redemption in accordance with said notice, together with all coupons, if any, appertaining thereto maturing
after the Redemption Date, such Security shall be paid by the Company at the Redemption Price, together with accrued interest,
if any, to the Redemption Date; provided, however, that installments of interest on Bearer Securities whose Stated
Maturity is on or prior to the Redemption Date shall be payable only at an office or agency located outside the United States
(except as otherwise provided in Section 1002) and, unless otherwise specified as contemplated by Section 301, only upon presentation
and surrender of coupons for such interest; and provided further that except as otherwise provided with respect to Securities
convertible into the Company’s Common Stock or Preferred Stock, installments of interest on Registered Securities whose
Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor
Securities, registered as such at the close of business on the relevant Record Dates according to their terms and the provisions
of Section 307.

 

If
any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant coupons maturing after the Redemption
Date, such Security may be paid after deducting from the Redemption Price an amount equal to the face amount of all such missing
coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if there be furnished
to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder
of such Security shall surrender to the Trustee or any Paying Agent any such missing coupon in respect of which a deduction shall
have been made from the Redemption Price, such Holder shall be entitled to receive the amount so deducted; provided, however,
that interest represented by coupons shall be payable only at an office or agency located outside the United States (except as
otherwise provided in Section 1002) and, unless otherwise specified as contemplated by Section 301, only upon presentation and
surrender of those coupons.

 

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

 

SECTION
1107. Securities Redeemed in Part. Any Registered Security which is to be redeemed only in part (pursuant to the provisions
of this Article or of Article Twelve) shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee
so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly
executed by, the Holder thereof or his attorney duly authorized in writing) and the Company shall execute and the Trustee shall
authenticate and deliver to the Holder of such Security without service charge a new Security or Securities of the same series,
of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed
portion of the principal of the Security so surrendered. If a Global Security is so surrendered, the Company shall execute and
the Trustee shall authenticate and deliver to the depository, without service charge, a new Global Security in a denomination
equal to and in exchange for the unredeemed portion of the principal of the Global Security so surrendered.

 

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ARTICLE
TWELVE - SINKING FUNDS

 

SECTION
1201. Applicability of Article. The provisions of this Article shall be applicable to any sinking fund for the retirement
of Securities of a series except as otherwise specified as contemplated by Section 301 for Securities of such series.

 

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

 

SECTION
1202. Satisfaction of Sinking Fund Payments with Securities. The Company may, in satisfaction of all or any part of any
mandatory sinking fund payment with respect to the Securities of a series, (1) deliver Outstanding Securities of such series (other
than any previously called for redemption) together in the case of any Bearer Securities of such series with all unmatured coupons
appertaining thereto and (2) apply as a credit Securities of such series which have been redeemed either at the election of the
Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant
to the terms of such Securities, as provided for by the terms of such Securities, or which have otherwise been acquired by the
Company; provided that such Securities so delivered or applied as a credit have not been previously so credited. Such Securities
shall be received and credited for such purpose by the Trustee at the applicable Redemption Price specified in such Securities
for redemption through operation of the sinking fund and the amount of such mandatory sinking fund payment shall be reduced accordingly.

 

SECTION
1203. Redemption of Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for Securities
of any series, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing
mandatory sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to
be satisfied by payment of cash in the currency or currencies, currency unit or units or composite currency or currencies in which
the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series)
and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities of that series pursuant to Section
1202, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and will also deliver
to the Trustee any Securities to be so delivered and credited. If such Officers’ Certificate shall specify an optional amount
to be added in cash to the next ensuing mandatory sinking fund payment, the Company shall thereupon be obligated to pay the amount
therein specified. Not less than 30 days before each such sinking fund payment date the Trustee shall select the Securities to
be redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the redemption thereof
to be given in the name of and at the expense of the Company in the manner provided in Section 1104. Such notice having been duly
given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107.

 

ARTICLE
THIRTEEN - REPAYMENT AT THE OPTION OF HOLDERS

 

SECTION
1301. Applicability of Article. Repayment of Securities of any series before their Stated Maturity at the option of Holders
thereof shall be made in accordance with the terms of such Securities, if any, and (except as otherwise specified by the terms
of such series established pursuant to Section 301) in accordance with this Article.

 

SECTION
1302. Repayment of Securities. Securities of any series subject to repayment in whole or in part at the option of the Holders
thereof will, unless otherwise provided in the terms of such Securities, be repaid at a price equal to the principal amount thereof,
together with interest, if any, thereon accrued to the Repayment Date specified in or pursuant to the terms of such Securities.
The Company covenants that on or prior to the Repayment Date it will deposit with the Trustee or with a Paying Agent (or, if the
Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money in the
currency or currencies, currency unit or units or composite currency or currencies in which the Securities of such series are
payable (except as otherwise specified pursuant to Section 301 for the Securities of such series) sufficient to pay the principal
(or, if so provided by the terms of the Securities of any series, a percentage of the principal) of, and (except if the Repayment
Date shall be an Interest Payment Date) accrued interest on, all the Securities or portions thereof, as the case may be, to be
repaid on such date.

 

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SECTION
1303. Exercise of Option. Securities of any series subject to repayment at the option of the Holders thereof will contain
an “Option to Elect Repayment” form on the reverse of such Securities. In order for any Security to be repaid at the
option of the Holder, the Trustee must receive at the Place of Payment therefor specified in the terms of such Security (or at
such other place or places of which the Company shall from time to time notify the Holders of such Securities) not earlier than
60 days nor later than 30 days prior to the Repayment Date (1) the Security so providing for such repayment together with the
“Option to Elect Repayment” form on the reverse thereof duly completed by the Holder (or by the Holder’s attorney
duly authorized in writing) or (2) a telegram, telex, facsimile transmission or a letter from a member of a national securities
exchange, or the FINRA, or a commercial bank or trust company in the United States setting forth the name of the Holder of the
Security, the principal amount of the Security, the principal amount of the Security to be repaid, the CUSIP number, if any, or
a description of the tenor and terms of the Security, a statement that the option to elect repayment is being exercised thereby
and a guarantee that the Security to be repaid, together with the duly completed form entitled “Option to Elect Repayment”
on the reverse of the Security, will be received by the Trustee not later than the fifth Business Day after the date of such telegram,
telex, facsimile transmission or letter; provided, however, that such telegram, telex, facsimile transmission or
letter shall only be effective if such Security and form duly completed are received by the Trustee by such fifth Business Day.
If less than the entire principal amount of such Security is to be repaid in accordance with the terms of such Security, the principal
amount of such Security to be repaid, in increments of the minimum denomination for Securities of such series, and the denomination
or denominations of the Security or Securities to be issued to the Holder for the portion of the principal amount of such Security
surrendered that is not to be repaid, must be specified. The principal amount of any Security providing for repayment at the option
of the Holder thereof may not be repaid in part if, following such repayment, the unpaid principal amount of such Security would
be less than the minimum authorized denomination of Securities of the series of which such Security to be repaid is a part. Except
as otherwise may be provided by the terms of any Security providing for repayment at the option of the Holder thereof, exercise
of the repayment option by the Holder shall be irrevocable unless waived by the Company.

 

SECTION
1304. When Securities Presented for Repayment Become Due and Payable. If Securities of any series providing for repayment
at the option of the Holders thereof shall have been surrendered as provided in this Article and as provided by or pursuant to
the terms of such Securities, such Securities or the portions thereof, as the case may be, to be repaid shall become due and payable
and shall be paid by the Company on the Repayment Date therein specified, and on and after such Repayment Date (unless the Company
shall default in the payment of such Securities on such Repayment Date) such Securities shall, if the same were interest-bearing,
cease to bear interest and the coupons for such interest appertaining to any Bearer Securities so to be repaid, except to the
extent provided below, shall be void. Upon surrender of any such Security for repayment in accordance with such provisions, together
with all coupons, if any, appertaining thereto maturing after the Repayment Date, the principal amount of such Security so to
be repaid shall be paid by the Company, together with accrued interest, if any, to the Repayment Date; provided, however,
that coupons whose Stated Maturity is on or prior to the Repayment Date shall be payable only at an office or agency located outside
the United States (except as otherwise provided in Section 1002) and, unless otherwise specified pursuant to Section 301, only
upon presentation and surrender of such coupons; and provided further that, in the case of Registered Securities, installments
of interest, if any, whose Stated Maturity is on or prior to the Repayment Date shall be payable (but without interest thereon,
unless the Company shall default in the payment thereof) to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of Section
307.

 

If
any Bearer Security surrendered for repayment shall not be accompanied by all appurtenant coupons maturing after the Repayment
Date, such Security may be paid after deducting from the amount payable therefor as provided in Section 1302 an amount equal to
the face amount of all such missing coupons, or the surrender of such missing coupon or coupons may be waived by the Company and
the Trustee if there be furnished to them such security or indemnity as they may require to save each of them and any Paying Agent
harmless. If thereafter the Holder of such Security shall surrender to the Trustee or any Paying Agent any such missing coupon
in respect of which a deduction shall have been made as provided in the preceding sentence, such Holder shall be entitled to receive
the amount so deducted; provided, however, that interest represented by coupons shall be payable only at an office
or agency located outside the United States (except as otherwise provided in Section 1002) and, unless otherwise specified as
contemplated by Section 301, only upon presentation and surrender of those coupons.

 

If
the principal amount of any Security surrendered for repayment shall not be so repaid upon surrender thereof, such principal amount
(together with interest, if any, thereon accrued to such Repayment Date) shall, until paid, bear interest from the Repayment Date
at the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) set forth in such Security.

 

SECTION
1305. Securities Repaid in Part. Upon surrender of any Registered Security which is to be repaid in part only, the Company
shall execute and the Trustee shall authenticate and deliver to the Holder of such Security, without service charge and at the
expense of the Company, a new Registered Security or Securities of the same series, of any authorized denomination specified by
the Holder, in an aggregate principal amount equal to and in exchange for the portion of the principal of such Security so surrendered
which is not to be repaid.

 

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ARTICLE
FOURTEEN - DEFEASANCE AND COVENANT DEFEASANCE

 

SECTION
1401. Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance. If, pursuant to Section
301, provision is made for either or both of (a) Defeasance of the Securities of or within a series under Section 1402 or (b)
Covenant Defeasance of the Securities of or within a series under Section 1403, then the provisions of such Section or Sections,
as the case may be, together with the other provisions of this Article (with such modifications thereto as may be specified pursuant
to Section 301 with respect to any Securities), shall be applicable to such Securities and any coupons appertaining thereto, and
the Company may at its option by Board Resolution, at any time, with respect to such Securities and any coupons appertaining thereto,
elect to have Section 1402 (if applicable) or Section 1403 (if applicable) be applied to such Outstanding Securities and any coupons
appertaining thereto upon compliance with the conditions set forth below in this Article.

 

SECTION
1402. Defeasance and Discharge. Upon the Company’s exercise of the above option applicable to this Section with respect
to any Securities of or within a series, the Company shall be deemed to have been discharged from its obligations with respect
to such Outstanding Securities and any coupons appertaining thereto on the date the conditions set forth in Section 1404 are satisfied
(hereinafter, “Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid
and discharged the entire indebtedness represented by such Outstanding Securities and any coupons appertaining thereto, which
shall thereafter be deemed to be “Outstanding” only for the purposes of Section 1405 and the other Sections of this
Indenture referred to in clauses (A) and (B) below, and to have satisfied all of its other obligations under such Securities and
any coupons appertaining thereto and this Indenture insofar as such Securities and any coupons appertaining thereto are concerned
(and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following
which shall survive until otherwise terminated or discharged hereunder: (A) the rights of Holders of such Outstanding Securities
and any coupons appertaining thereto to receive, solely from the trust fund described in Section 1404 and as more fully set forth
in such Section, payments in respect of the principal of (and premium or Make-Whole Amount, if any) and interest, if any, on such
Securities and any coupons appertaining thereto when such payments are due, (B) the Company’s obligations with respect to
such Securities under Sections 305, 306, 1002 and 1003, and the Company’s obligations under Section 606 hereof (C) the rights,
powers, trusts, duties and immunities of the Trustee hereunder and (D) this Article. Subject to compliance with this Article Fourteen,
the Company may exercise its option under this Section notwithstanding the prior exercise of its option under Section 1403 with
respect to such Securities and any coupons appertaining thereto.

 

SECTION
1403. Covenant Defeasance. Upon the Company’s exercise of the above option applicable to this Section with respect
to any Securities of or within a series, the Company shall be released from its obligations under Sections 1004 to 1009, inclusive,
and, if specified pursuant to Section 301, its obligations under any other covenant contained herein or in any indenture supplemental
hereto, with respect to such Outstanding Securities and any coupons appertaining thereto on and after the date the conditions
set forth in Section 1404 are satisfied (hereinafter, “Covenant Defeasance”), and such Securities and any coupons
appertaining thereto shall thereafter be deemed to be not “Outstanding” for the purposes of any direction, waiver,
consent or declaration or Act of Holders (and the consequences of any thereof) in connection with Sections 1004 to 1009, inclusive,
or such other covenant, but shall continue to be deemed “Outstanding” for all other purposes hereunder. For this purpose,
such Covenant Defeasance means that, with respect to such Outstanding Securities and any coupons appertaining thereto, the Company
may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such Section
or such other covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such Section or such
other covenant or by reason of reference in any such Section or such other covenant to any other provision herein or in any other
document and such omission to comply shall not constitute a default or an Event of Default under Section 501(4) or 501(8) or otherwise,
as the case may be, but, except as specified above, the remainder of this Indenture and such Securities and any coupons appertaining
thereto shall be unaffected thereby.

 

SECTION
1404. Conditions to Defeasance or Covenant Defeasance. The following shall be the conditions to application of Section
1402 or Section 1403 to any Outstanding Securities of or within a series and any coupons appertaining thereto:

 

(a)
The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements
of Section 607 who shall agree to comply with the provisions of this Article Fourteen applicable to it) as trust funds in trust
for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of
the Holders of such Securities and any coupons appertaining thereto, (1) an amount in such currency, currencies or currency unit
in which such Securities and any coupons appertaining thereto are then specified as payable at Stated Maturity, or (2) Government
Obligations applicable to such Securities and coupons appertaining thereto (determined on the basis of the currency, currencies
or currency unit in which such Securities and coupons appertaining thereto are then specified as payable at Stated Maturity) which
through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later
than the due date of any payment of principal of (and premium or Make-Whole Amount, if any) and interest, if any, on such Securities
and any coupons appertaining thereto, money in an amount, or (3) a combination thereof, in any case, in an amount, sufficient,
without consideration of any reinvestment of such principal and interest, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall
be applied by the Trustee (or other qualifying trustee) to pay and discharge, (i) the principal of (and premium or Make-Whole
Amount, if any) and interest, if any, on such Outstanding Securities and any coupons appertaining thereto on the Stated Maturity
of such principal or installment of principal or interest and (ii) any mandatory sinking fund payments or analogous payments applicable
to such Outstanding Securities and any coupons appertaining thereto on the day on which such payments are due and payable in accordance
with the terms of this Indenture and of such Securities and any coupons appertaining thereto.

 

    	46

    	 

    

 

(b)
Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, this Indenture
or any other material agreement or instrument to which the Company is a party or by which it is bound.

 

(c)
No Event of Default or event which with notice or lapse of time or both would become an Event of Default with respect to such
Securities and any coupons appertaining thereto shall have occurred and be continuing on the date of such deposit or, insofar
as Sections 501(6) and 501(7) are concerned, at any time during the period ending on the 91st day after the date of such deposit
(it being understood that this condition shall not be deemed satisfied until the expiration of such period).

 

(d)
In the case of an election under Section 1402, the Company shall have delivered to the Trustee an Opinion of Counsel stating that
(i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date
of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect
that, and based thereon such opinion shall confirm that, the Holders of such Outstanding Securities and any coupons appertaining
thereto will not recognize income, gain or loss for Federal income tax purposes as a result of such Defeasance and will be subject
to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Defeasance
had not occurred.

 

(e)
In the case of an election under Section 1403, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that the Holders of such Outstanding Securities and any coupons appertaining thereto will not recognize income, gain or loss for
Federal income tax purposes as a result of such Covenant Defeasance and will be subject to Federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred.

 

(f)
The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent to the Defeasance under Section 1402 or the Covenant Defeasance under Section 1403 (as the case may be) have
been complied with and an Opinion of Counsel to the effect that either (i) as a result of a deposit pursuant to subsection (a)
above and the related exercise of the Company’s option under Section 1402 or Section 1403 (as the case may be), registration
is not required under the Investment Company Act of 1940, as amended, by the Company, with respect to the trust funds representing
such deposit or by the Trustee for such trust funds or (ii) all necessary registrations under said Act have been effected.

 

(g)
Notwithstanding any other provisions of this Section, such Defeasance or Covenant Defeasance shall be effected in compliance with
any additional or substitute terms, conditions or limitations which may be imposed on the Company in connection therewith pursuant
to Section 301.

 

(h)
The payment of amounts payable to the Trustee pursuant to this Indenture shall be paid or provided for to the reasonable satisfaction
of the Trustee.

 

SECTION
1405. Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions. Subject to the provisions
of the last paragraph of Section 1003, all money and Government Obligations (or other property as may be provided pursuant to
Section 301) (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes
of this Section 1405, the “Trustee”) pursuant to Section 1404 in respect of any Outstanding Securities of any series
and any coupons appertaining thereto shall be held in trust and applied by the Trustee, in accordance with the provisions of such
Securities and any coupons appertaining thereto and this Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities and any
coupons appertaining thereto of all sums due and to become due thereon in respect of principal (and premium or Make-Whole Amount,
if any) and interest, but such money need not be segregated from other funds except to the extent required by law.

 

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Unless
otherwise specified with respect to any Security pursuant to Section 301, if, after a deposit referred to in Section 1404(a) has
been made, (a) the Holder of a Security in respect of which such deposit was made is entitled to, and does, elect pursuant to
Section 301 or the terms of such Security to receive payment in a currency or currency unit other than that in which the deposit
pursuant to Section 1404(a) has been made in respect of such Security, or (b) a Conversion Event occurs in respect of the currency
or currency unit in which the deposit pursuant to Section 1404(a) has been made, the indebtedness represented by such Security
and any coupons appertaining thereto shall be deemed to have been, and will be, fully discharged and satisfied through the payment
of the principal of (and premium or Make-Whole Amount, if any), and interest, if any, on such Security as the same becomes due
out of the proceeds yielded by converting (from time to time as specified below in the case of any such election) the amount or
other property deposited in respect of such Security into the currency or currency unit in which such Security becomes payable
as a result of such election or Conversion Event based on the applicable market exchange rate for such currency or currency unit
in effect on the second Business Day prior to each payment date, except, with respect to a Conversion Event, for such currency
or currency unit in effect (as nearly as feasible) at the time of the Conversion Event.

 

The
Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government
Obligations deposited pursuant to Section 1404 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 such Outstanding Securities and any coupons appertaining
thereto.

 

Anything
in this Article to the contrary notwithstanding, subject to Section 606, the Trustee shall deliver or pay to the Company from
time to time upon Company Request any money or Government Obligations (or other property and any proceeds therefrom) held by it
as provided in Section 1404 which, in the opinion of a nationally recognized firm of independent public accountants expressed
in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required
to be deposited to effect a Defeasance or Covenant Defeasance, as applicable, in accordance with this Article.

 

ARTICLE
FIFTEEN - MEETINGS OF HOLDERS OF SECURITIES

 

SECTION
1501. Purposes for Which Meetings May Be Called. A meeting of Holders of Securities of any series may be called at any
time and from time to time pursuant to this Article to make, give or take any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Indenture to be made, given or taken by Holders of Securities of such series.

 

SECTION
1502. Call, Notice and Place of Meetings.

 

(a)
The Trustee may at any time call a meeting of Holders of Securities of any series for any purpose specified in Section 1501, to
be held at such time and at such place as the Trustee shall determine. Notice of every meeting of Holders of Securities of any
series, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting,
shall be given, in the manner provided in Section 106, not less than 20 nor more than 180 days prior to the date fixed for the
meeting.

 

(b)
In case at any time the Company, pursuant to a Board Resolution, or the Holders of at least 25% in principal amount of the Outstanding
Securities of any series shall have requested the Trustee to call a meeting of the Holders of Securities of such series for any
purpose specified in Section 1501, by written request setting forth in reasonable detail the action proposed to be taken at the
meeting, and the Trustee shall not have made the first publication of the notice of such meeting within 20 days after receipt
of such request or shall not thereafter proceed to cause the meeting to be held as provided herein, then the Company or the Holders
of Securities of such series in the amount above specified, as the case may be, may determine the time and the place for such
meeting and may call such meeting for such purposes by giving notice thereof as provided in subsection (a) of this Section.

 

SECTION
1503. Persons Entitled to Vote at Meetings. To be entitled to vote at any meeting of Holders of Securities of any series,
a Person shall be (1) a Holder of one or more Outstanding Securities of such series, or (2) a Person appointed by an instrument
in writing as proxy for a Holder or Holders of one or more Outstanding Securities of such series by such Holder or Holders. The
only Persons who shall be entitled to be present or to speak at any meeting of Holders of Securities of any series shall be the
Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives
of the Company and its counsel.

 

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SECTION
1504. Quorum; Action. The Persons entitled to vote a majority in principal amount of the Outstanding Securities of a series
shall constitute a quorum for a meeting of Holders of Securities of such series; provided, however, that if any
action is to be taken at such meeting with respect to a consent or waiver which this Indenture expressly provides may be given
by the Holders of not less than a specified percentage in principal amount of the Outstanding Securities of a series, the Persons
entitled to vote such specified percentage in principal amount of the Outstanding Securities of such series shall constitute a
quorum. In the absence of a quorum within 30 minutes after the time appointed for any such meeting, the meeting shall, if convened
at the request of Holders of Securities of such series, be dissolved. In any other case the meeting may be adjourned for a period
of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence
of a quorum at the reconvening of any such adjourned meeting, such adjourned meeting may be further adjourned for a period of
not less than 10 days; at the reconvening of any meeting adjourned or further adjourned for lack of a quorum, the Persons entitled
to vote 25% in aggregate principal amount of the then Outstanding Securities shall constitute a quorum for the taking of any action
set forth in the notice of the original meeting. Notice of the reconvening of any adjourned meeting shall be given as provided
in Section 1502(a), except that such notice need be given only once not less than five days prior to the date on which the meeting
is scheduled to be reconvened.

 

Except
as limited by the proviso to Section 902, any resolution presented to a meeting or adjourned meeting duly reconvened at which
a quorum is present as aforesaid may be adopted by the affirmative vote of the Persons entitled to vote a majority in aggregate
principal amount of the Outstanding Securities represented at such meeting; provided, however, that, except as limited
by the proviso to Section 902, any resolution with respect to any request, demand, authorization, direction, notice, consent,
waiver or other action which this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage,
which is less than a majority, in principal amount of the Outstanding Securities of a series may be adopted at a meeting or an
adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote of the Holders of such
specified percentage in principal amount of the Outstanding Securities of that series.

 

Any
resolution passed or decision taken at any meeting of Holders of Securities of any series duly held in accordance with this Section
shall be binding on all the Holders of Securities of such series and the related coupons, whether or not present or represented
at the meeting.

 

Notwithstanding
the foregoing provisions of this Section 1504, if any action is to be taken at a meeting of Holders of Securities of any series
with respect to any request, demand, authorization, direction, notice, consent, waiver or other action that this Indenture expressly
provides may be made, given or taken by the Holders of a specified percentage in principal amount of all Outstanding Securities
affected thereby, or of the Holders of such series and one or more additional series:

 

(i)
there shall be no minimum quorum requirement for such meeting; and

 

(ii)
the principal amount of the Outstanding Securities of such series that vote in favor of such request, demand, authorization, direction,
notice, consent, waiver or other action shall be taken into account in determining whether such request, demand, authorization,
direction, notice, consent, waiver or other action has been made, given or taken under this Indenture.

 

SECTION
1505. Determination of Voting Rights; Conduct and Adjournment of Meetings.

 

(a)
Notwithstanding any provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for
any meeting of Holders of Securities of a series in regard to proof of the holding of Securities of such series and of the appointment
of proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates
and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate.
Except as otherwise permitted or required by any such regulations, the holding of Securities shall be proved in the manner specified
in Section 104 and the appointment of any proxy shall be proved in the manner specified in Section 104 or by having the signature
of the Person executing the proxy witnessed or guaranteed by any trust company, bank or banker authorized by Section 104 to certify
to the holding of Bearer Securities. Such regulations may provide that written instruments appointing proxies, regular on their
face, may be presumed valid and genuine without the proof specified in Section 104 or other proof.

 

(b)
The Trustee shall, by an instrument in writing appoint a temporary chairman of the meeting, unless the meeting shall have been
called by the Company or by Holders of Securities as provided in Section 1502(b), in which case the Company or the Holders of
Securities of the series calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent
chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal
amount of the Outstanding Securities of such series represented at the meeting.

 

(c)
At any meeting each Holder of a Security of such series or proxy shall be entitled to one vote for each $1,000 principal amount
of the Outstanding Securities of such series held or represented by him; provided, however, that no vote shall be
cast or counted at any meeting in respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting
to be not Outstanding. The chairman of the meeting shall have no right to vote, except as a Holder of a Security of such series
or proxy.

 

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(d)
Any meeting of Holders of Securities of any series duly called pursuant to Section 1502 at which a quorum is present may be adjourned
from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented
at the meeting, and the meeting may be held as so adjourned without further notice.

 

SECTION
1506. Counting Votes and Recording Action of Meetings. The vote upon any resolution submitted to any meeting of Holders
of Securities of any series shall be by written ballots on which shall be subscribed the signatures of the Holders of Securities
of such series or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Securities
of such series held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall
count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting
their verified written reports in duplicate of all votes cast at the meeting. A record, at least in duplicate, of the proceedings
of each meeting of Holders of Securities of any Series shall be prepared by the secretary of the meeting and there shall be attached
to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more
persons having knowledge of the fact, setting forth a copy of the notice of the meeting and showing that said notice was given
as provided in Section 1502 and, if applicable, Section 1504. Each copy shall be signed and verified by the affidavits of the
permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company and another to the Trustee
to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and
verified shall be conclusive evidence of the matters therein stated.

 

ARTICLE
SIXTEEN - SUBORDINATION OF SECURITIES

 

SECTION
1601. Agreement to Subordinate. Notwithstanding anything in this Indenture to the contrary (other than Article Four of
this Indenture), the Company covenants and agrees, and each Holder of a Security, by his acceptance thereof, likewise covenants
and agrees, that, to the extent and in the manner hereinafter set forth in this Article, the Indebtedness represented by the Securities
and the payment of any Obligations with respect to each and all of the Securities are hereby expressly made subordinate and subject
in right of payment to the prior payment in full of all Senior Indebtedness.

 

SECTION
1602. Payment Over of Proceeds upon Dissolution, Etc. In the event of (a) any insolvency or bankruptcy case or Proceeding,
or any receivership, liquidation, reorganization or other similar case or Proceeding in connection therewith, relative to the
Company or to its creditors, as such, or to its assets, or (b) any liquidation, dissolution or other winding up of the Company,
whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (c) any assignment for the benefit
of creditors or any other marshaling of assets and liabilities of the Company, then and in any such event specified in (a), (b)
or (c) above (each such event, if any, herein sometimes referred to as a “Proceeding”)

 

(1)
the holders of Senior Indebtedness shall first be entitled to receive payment in full of all Obligations due or to become due
on or in respect of all Senior Indebtedness, or provision shall be made for such payment in cash or cash equivalents or otherwise
in a manner satisfactory to the holders of Senior Indebtedness, before the Holders of the Securities are entitled to receive any
payment or distribution on account of principal of or premium, if any, or interest on or other Obligations in respect of the Securities
or on account of any purchase, redemption or other acquisition of Securities by the Company (individually and collectively, a
“Securities Payment”), and

 

(2)
any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities (other
than Capital Stock or securities of the Company as reorganized or readjusted, or securities of the Company or any other corporation
provided for by a plan of reorganization or readjustment, the payment of which is subordinate, at least to the extent provided
in this Article Sixteen with respect to the Securities, to the payment in full, without diminution or modification by such plan,
of all Senior Indebtedness), to which the Holders would be entitled except for the provisions of this Article Sixteen, shall be
paid by the liquidating trustee or agent or other person making such a payment or distribution, directly to the holders of Senior
Indebtedness) (or their representative(s) or trustee(s) acting on their behalf), ratably according to the aggregate amounts remaining
unpaid on account of the principal of or interest on and other amounts due on the Senior Indebtedness held or represented by each,
to the extent necessary to make payment in full of all Senior Indebtedness remaining unpaid, after giving effect to any concurrent
payment or distribution to the holders of such Senior Indebtedness.

 

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In
the event that, notwithstanding the foregoing provisions of this Section 1602, the Trustee or the Holder of any Security shall
have received any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities
(other than Capital Stock or securities of the Company as reorganized or readjusted, or securities of the Company or any other
corporation provided for by a plan of reorganization or readjustment, the payment of which is subordinate, at least to the extent
provided in this Article with respect to the Securities, to the payment in full, without diminution or modification by such plan,
of Senior Indebtedness), before all Senior Indebtedness is paid in full or payment thereof provided for in cash or cash equivalents
or otherwise in a manner satisfactory to the holders of Senior Indebtedness, such payment or distribution shall be held in trust
for the benefit of, and be paid over to, the holders of the Senior Indebtedness remaining unpaid (or their representative(s) or
trustee(s) acting on their behalf), ratably as aforesaid, for application to the payment of such Senior Indebtedness until such
Senior Indebtedness shall have been paid in full, after giving effect to any concurrent payment or distribution to the holders
of such Senior Indebtedness.

 

The
consolidation of the Company with, or the merger of the Company into, another Person or the liquidation or dissolution of the
Company following the conveyance or transfer of all or substantially all of its properties and assets as an entirety to another
Person upon the terms and conditions set forth in Article Eight shall not be deemed a Proceeding for the purposes of this Section
1602 if the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance
or transfer such properties and assets as an entirety, as the case may be, shall, as a part of such consolidation, merger, conveyance
or transfer, comply with the conditions set forth in Article Eight.

 

SECTION
1603. No Payment When Senior Indebtedness in Default. Anything in this Indenture to the contrary notwithstanding, no payment
on account of principal of or redemption of, interest on or other amounts due on the Securities, and no redemption, purchase,
or other acquisition of the Securities, shall be made by or on behalf of the Company (i) unless full payment of amounts then due
for principal and interest and of all other obligations then due on all Senior Indebtedness has been made or duly provided for
pursuant to the terms of the instrument governing such Senior Indebtedness, (ii) if, at the time of such payment, redemption,
purchase or other acquisition, or immediately after giving effect thereto, there shall exist under any Senior Indebtedness, or
any agreement pursuant to which any Senior Indebtedness is issued, any default, which default shall not have been cured or waived
and which default shall have resulted in the full amount of such Senior Indebtedness being declared due and payable or (iii) if,
at the time of such payment, redemption, purchase or other acquisition, the Trustee shall have received written notice from the
holder or holders of any Senior Indebtedness or their representative or representatives (a “Payment Blockage Notice”)
that there exists under such Senior Indebtedness, or any agreement pursuant to which such Senior Indebtedness is issued, any default,
which default shall not have been cured or waived, permitting the holders thereof to declare the full amount of such Senior Indebtedness
due and payable, but only for the period (the “Payment Blockage Period”) commencing on the date of receipt of the
Payment Blockage Notice and ending (unless earlier terminated by notice given to the Trustee by the Holders of such Senior Indebtedness)
on the earlier of (A) the date on which such event of default shall have been cured or waived or (B) 180 days from the receipt
of the Payment Blockage Notice. Upon termination of a Payment Blockage Period, payments on account of principal of or interest
on the Securities and redemptions, purchases or other acquisitions may be made by or on behalf of the Company. Notwithstanding
anything herein to the contrary, (A) only one Payment Blockage Notice may be given during any period of 360 consecutive days with
respect to the same event of default and any other events of default on the same issue of Senior Indebtedness existing and known
to the person giving such notice at the time of such notice and (B) no new Payment Blockage Period may be commenced by the holder
or holders of the same issue of Senior Indebtedness or their representative or representatives during any period of 360 consecutive
days unless all events of default which were the object of the immediately preceding Payment Blockage Notice, and any other event
of default on the same issue of Senior Indebtedness existing and known to the person giving such notice at the time of such notice,
have been cured or waived.

 

In
the event that, notwithstanding the provisions of this Section 1603, payments are made by or on behalf of the Company in contravention
of the provisions of this Section 1603, such payments shall be held by the Trustee, any Paying Agent or the Holders, as applicable,
in trust for the benefit of, and shall be paid over to and delivered to, the holders of Senior Indebtedness or their representative
or the trustee under the indenture or other agreement (if any), pursuant to which any instruments evidencing any Senior Indebtedness
may have been issued, as their respective interests may appear, for application to the payment of all Senior Indebtedness remaining
unpaid to the extent necessary to pay all Senior Indebtedness in full in accordance with the terms of such Senior Indebtedness,
after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness.

 

The
provisions of this Section shall not apply to any payment with respect to which Section 1602 would be applicable.

 

SECTION
1604. Reliance by Senior Indebtedness on Subordination Provisions. Each Holder of any Security by his acceptance thereof
acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration
for each holder of any Senior Indebtedness, whether such Senior Indebtedness was created or acquired before or after the issuance
of the Securities, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of Senior
Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold
or in continuing to hold such Senior Indebtedness.

 

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SECTION
1605. Subrogation to Rights of Holders of Senior Indebtedness. Subject to the payment in full of all Obligations due or
to become due on or in respect of Senior Indebtedness, or the provision for such payment in cash or cash equivalents or otherwise
in a manner satisfactory to the holders of Senior Indebtedness, the Holders of the Securities shall be subrogated to the extent
of the payments or distributions made to the holders of such Senior Indebtedness pursuant to the provisions of this Article Sixteen
to the rights of the holders of such Senior Indebtedness to receive payments and distributions of cash, property and securities
applicable to the Senior Indebtedness until the principal of and premium, if any, and interest on the Securities shall be paid
in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of any cash,
property or securities to which the Holders of the Securities or the Trustee would be entitled except for the provisions of this
Article Sixteen, and no payments over pursuant to the provisions of this Article Sixteen to the holders of Senior Indebtedness
by Holders of the Securities or the Trustee, shall, as among the Company, its creditors other than holders of Senior Indebtedness
and the Holders of the Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Indebtedness.

 

SECTION
1606. Provisions Solely to Define Relative Rights. The provisions of this Article Sixteen are and are intended solely for
the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness
on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall
(a) impair, as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the
obligation of the Company, which is absolute and unconditional (and which, subject to the rights under this Article Sixteen of
the holders of Senior Indebtedness, is intended to rank equally with all other general obligations of the Company), to pay to
the Holders of the Securities the principal of and premium, if any, and interest on the Securities as and when the same shall
become due and payable in accordance with their terms; or (b) affect the relative rights against the Company of the Holders of
the Securities and creditors of the Company other than the holders of Senior Indebtedness; or (c) prevent the Trustee or the Holder
of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject
to the rights, if any, under this Article of the holders of Senior Indebtedness to receive cash, property and securities otherwise
payable or deliverable to the Trustee or such Holder.

 

SECTION
1607. Trustee to Effectuate Subordination. Each Holder of a Security by his acceptance thereof authorizes and directs the
Trustee on his behalf to take such action as may be necessary or appropriate to effectuate, as between the Holders of the Securities
and the holders of Senior Indebtedness, the subordination provided in this Article Sixteen and appoints the Trustee his attorney-in-fact
for any and all such purposes, including, in the event of any dissolution, winding up or liquidation or reorganization under any
applicable bankruptcy law of the Company (whether in bankruptcy, insolvency or receivership Proceedings or otherwise), the timely
filing of a claim for the unpaid balance of such Holder’s Securities in the form required in such Proceedings and the causing
of such claim to be approved. If the Trustee does not file a claim or proof of debt in the form required in such Proceedings prior
to 30 days before the expiration of the time to file such claims or proofs, then the holders of Senior Indebtedness, jointly,
or their representatives shall have the right to file an appropriate claim for and on behalf of the Holders and to demand, sue
for, collect, receive and receipt for the payments and distributions in respect of the Securities which are required to be paid
or delivered to the holders of Senior Indebtedness as provided in this Article Sixteen and to take all such other action in the
name of the Holders or otherwise, as such holder of Senior Indebtedness or representative thereof may determine to be necessary
or appropriate for the enforcement of the provisions of this Article Sixteen.

 

SECTION
1608. No Waiver of Subordination Provisions. No right of any present or future holder of any Senior Indebtedness to enforce
subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part
of the Company or by any act or failure to act, in good faith, by any such holder or any representative or trustee therefor, or
by any non-compliance by the Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof
any such holder may have or be otherwise charged with.

 

Without
in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness may, at any time from time to
time, without the consent of or notice to the Trustee or the Holders of the Securities, without incurring responsibility to the
Holders of the Securities and without impairing or releasing the subordination provided in this Article Sixteen or the obligations
hereunder of the Holders of the Securities to the holders of Senior Indebtedness, do any one or more of the following: (i) change
the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior Indebtedness, or otherwise amend
or supplement in any manner Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness
is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior
Indebtedness; (iii) release any Person liable in any manner for the collection of Senior Indebtedness and settle or compromise
Senior Indebtedness (which, to the extent so settled and compromised, shall be deemed to have been paid in full for all purposes
hereof); (iv) apply any amounts received to any liability of the Company owing to holders of Senior Indebtedness; and (v) exercise
or refrain from exercising any rights against the Company and any other Person.

 

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SECTION
1609. Notice to Trustee. The Company shall give prompt written notice to the Trustee of any default or event of default
with respect to any Senior Indebtedness or of any fact known to the Company which would prohibit the making of any payment to
or by the Trustee in respect of the Securities pursuant to the provisions of this Article Sixteen. Notwithstanding the provisions
of this Article Sixteen or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence
of any facts which would prohibit the making of any payment to or by the Trustee in respect of the Securities, unless and until
the Trustee shall have received written notice thereof from the Company or a holder of Senior Indebtedness or from any representative
or trustee acting on their behalf; and, prior to the receipt of any such written notice, the Trustee, subject to the provisions
of Section 612, shall be entitled in all respects to assume that no such facts exist; provided, however, that if
the Trustee shall not have received the notice provided for in this Section at least three Business Days prior to the date upon
which by the terms hereof any money may become payable for any purpose (including, without limitation, the payment of the principal
of and premium, if any, or interest on any Security), then, anything herein contained to the contrary notwithstanding, the Trustee
shall have full power and authority to receive such money and to apply the same to the purpose for which such money was received
and shall not be affected by any notice to the contrary which may be received by it within three Business Days prior to such date.
Nothing contained in this Article Sixteen or any other Article of this Indenture or in any of the Securities shall prevent (a)
the Company, at any time except during the pendency of any Proceeding, or under the conditions described in Section 1603, from
making payments at any time in respect of the Securities, or (b) the application by the Trustee of any money deposited with it
hereunder to the payment of or on account of the Securities, or the retention thereof by any Holder, if the Trustee did not have
notice, as provided in this Section 1609, that such payment would have been prohibited by the provisions of this Article Sixteen.

 

Subject
to the provisions of Section 612, the Trustee shall be entitled to rely on the delivery to it of a written notice by a Person
representing himself to be a holder of Senior Indebtedness (or a representative or trustee therefor) to establish that such notice
has been given by a holder of Senior Indebtedness (or a trustee therefor). In the event that the Trustee determines in good faith
that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in
any payment or distribution pursuant to this Article Sixteen, the Trustee may request such Person to furnish evidence to the reasonable
satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled
to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article Sixteen,
and if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the
right of such Person to receive such payment.

 

SECTION
1610. Reliance on Judicial Order or Certificate of Liquidating Agent. Upon any payment or distribution of assets of the
Company referred to in this Article Sixteen, the Trustee, subject to the provisions of Section 612, and the Holders of the Securities
shall be entitled to rely upon any order or decree entered by any court of competent jurisdiction in which any Proceeding is pending,
or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for the benefit of creditors,
agent or other Person making such payment or distribution, delivered to the Trustee or to the Holders of Securities, for the purpose
of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and
other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and
all other facts pertinent thereto or to this Article.

 

SECTION
1611. Trustee Not Fiduciary for Holders of Senior Indebtedness. The Trustee shall not be deemed to owe any fiduciary duty
to the holders of Senior Indebtedness. Nothing contained in this Article Sixteen or elsewhere in this Indenture, or in any of
the Securities, shall prevent the application by the Trustee of any moneys which were deposited with it hereunder, prior to its
receipt of written notice of facts which would prohibit such application, for the purpose of the payment of or on account of the
principal of or interest on, the Securities unless, prior to the date on which such application is made by the Trustee, the Trustee
shall be charged with notice under Section 1609 hereof of the facts which would prohibit the making of such application.

 

SECTION
1612. Rights of Trustee as Holder of Senior Indebtedness; Preservation of Trustee’s Rights. The Trustee in its individual
capacity shall be entitled to all the rights set forth in this Article Sixteen with respect to any Senior Indebtedness which may
at any time be held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in this Indenture shall
deprive the Trustee of any of its rights as such holder. Nothing in this Article shall apply to claims of, or payments to, the
Trustee under or pursuant to Section 606.

 

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SECTION
1613. Article Applicable to Paying Agents. In case at any time any Paying Agent other than the Trustee shall have been
appointed by the Company and be then acting hereunder, the term “Trustee” as used in this Article Sixteen shall in
such case (unless the context otherwise requires) be construed as extending to and including such Paying Agent within its meaning
as fully for all intents and purposes as if such Paying Agent were named in this Article in addition to or in place of the Trustee;
provided, however, that Section 1612 shall not apply to the Company or any Affiliate of the Company if it or such
Affiliate acts as Paying Agent.

 

ARTICLE
SEVENTEEN - CONVERSION OF SECURITIES

 

SECTION
1701. Applicability of Article; Conversion Privilege and Conversion Price. Securities of any series which are convertible
shall be convertible in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for Securities
of any series) in accordance with this Article Seventeen. Subject to and upon compliance with the provisions of this Article Seventeen,
at any time during the period specified in the Securities, at the option of the Holder thereof, any Security or any portion of
the principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof,
or of such portion thereof, into fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100 of
a share) of Common Stock of the Company, at the Conversion Price, determined as hereinafter provided, in effect at the time of
conversion. In case a Security or portion thereof is called for redemption, such conversion right in respect of the Security or
portion so called shall expire at the close of business on the Business Day immediately preceding the Redemption Date, unless
the Company defaults in making the payment due upon redemption, in which case such conversion right shall terminate on the date
such default is cured.

 

The
price at which shares of Common Stock shall be delivered upon conversion (herein called the “Conversion Price”) of
Securities of any series shall be specified in such Securities. The Conversion Price shall be adjusted in certain instances as
provided in Section 1704.

 

In
case the Company shall, by dividend or otherwise, declare or make a distribution on its Common Stock referred to in paragraph
(4) of Section 1704, the Holder of each Security, upon the conversion thereof pursuant to this Article Seventeen subsequent to
the close of business on the date fixed for the determination of stockholders entitled to receive such distribution and prior
to the effectiveness of the Conversion Price adjustment in respect of such distribution pursuant to paragraph (4) of Section 1704,
shall be entitled to receive for each share of Common Stock into which such Security is converted, the portion of the evidence
of indebtedness, shares of Capital Stock or assets so distributed applicable to one share of Common Stock; provided, however,
that, at the election of the Company (whose election shall be evidenced by a Board Resolution filed with the Trustee) with respect
to all Holders so converting, the Company may, in lieu of distributing to such Holder any portion of such distribution not consisting
of cash or securities of the Company, pay such Holder an amount in cash equal to the fair market value thereof (as determined
in good faith by the Board of Directors, whose determination shall be conclusive and described in a Board Resolution filed with
the Trustee). If any conversion of a Security entitled to the benefits described in the immediately preceding sentence occurs
prior to the payment date for a distribution to holders of Common Stock which the Holder of the Security so converted is entitled
to receive in accordance with the immediately preceding sentence, the Company may elect (such election to be evidenced by a Board
Resolution filed with the Trustee) to distribute to such Holder a due bill for the evidences of indebtedness, shares of Capital
Stock or assets to which such Holder is so entitled, provided that such due bill (i) meets any applicable requirements of the
principal over-the-counter market or national securities exchange or other market on which the Common Stock is then traded, and
(ii) requires payment or delivery of such evidences of indebtedness or assets no later than the date of payment or delivery thereof
to holders of Common Stock receiving such distribution.

 

SECTION
1702. Exercise of Conversion Privilege. In order to exercise the conversion privilege, the Holder of any Security to be
converted shall surrender such Security, duly endorsed or assigned to the Company or in blank, at any office or agency maintained
by the Company pursuant to Section 1002, accompanied by written notice to the Company at such office or agency that the Holder
elects to convert such Security or, if less than the entire principal amount thereof is to be converted, the portion thereof to
be converted and shall comply with any additional requirements set forth in such Security. Securities surrendered for conversion
during the period from the close of business on any Regular Record Date next preceding any Interest Payment Date to the opening
of business on such Interest Payment Date shall (except for Securities the Maturity of which is prior to such Interest Payment
Date) be accompanied by payment in funds acceptable to the Company of an amount equal to the interest payable on such Interest
Payment Date on the principal amount of Securities being surrendered for conversion and such interest shall be paid on such Interest
Payment Date as provided in Section 307. Except as provided in the preceding sentence, no payment or adjustment shall be made
upon any conversion on account of any interest accrued on the Securities surrendered for conversion or on account of any dividends
on the Common Stock issued upon conversion.

 

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The
Company’s delivery to the Holder of the fixed number of shares of the Common Stock of the Company (and any cash in lieu
of any fractional share of Common Stock) into which the Security is convertible shall be deemed to satisfy the Company’s
obligation to pay the principal amount of the Security and all accrued interest and original issue discount that has not previously
been paid. The shares of Common Stock of the Company so delivered shall be treated as issued first in payment of accrued interest
and original issue discount and then in payment of principal. Thus, accrued interest and original issue discount shall be treated
as paid, rather than canceled, extinguished or forfeited.

 

Securities
shall be deemed to have been converted immediately prior to the close of business on the day of surrender of such Securities for
conversion in accordance with the foregoing provisions, and at such time the rights of the Holders of such Securities as Holders
shall cease, and the Person or Persons entitled to receive the Common Stock issuable upon conversion shall be treated for all
purposes as the record holder or holders of such Common Stock at such time. As promptly as practicable on or after the conversion
date, the Company shall issue and shall deliver at such office or agency a certificate or certificates for the number of full
shares of Common Stock issuable upon conversion, together with payment in lieu of any fraction of a share, as provided in Section
1703.

 

In
the case of any Security which is converted in part only, as promptly as practicable on or after the conversion date the Company
shall execute and the Trustee shall authenticate and make available for delivery to the Holder thereof (or the Depositary in the
case of a Global Security), at the expense of the Company, a new Security or Securities, of authorized denominations in aggregate
principal amount equal to the unconverted portion of the principal amount of such Security.

 

SECTION
1703. Fractions of Shares. No fractional shares of Common Stock shall be issued upon conversion of Securities. If more
than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares of Common Stock
which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities
(or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable
upon conversion of any Security or Securities (or specified portions thereof), the Company shall pay a cash adjustment (rounded
to the nearest cent) in respect of such fraction in an amount equal to the same fraction of the Closing Price per share of the
Common Stock on the day of conversion (or, if such day is not a Trading Day, on the Trading Day immediately preceding such day).

 

SECTION
1704. Adjustment of Conversion Price. The Conversion Price shall be subject to adjustment from time to time as follows:

 

(1)
If the Company pays or makes a dividend or other distribution (a) on its Common Stock exclusively in Common Stock or (b) on any
other class of Capital Stock of the Company, which dividend or distribution includes Common Stock of the Company, the Conversion
Price in effect at the opening of business on the day following the date fixed for the determination of stockholders entitled
to receive such dividend or other distribution (the “Dividend Record Date”) shall be reduced by multiplying such Conversion
Price by a fraction of which the numerator shall be the number of shares of Common Stock of the Company outstanding at the close
of business on the Dividend Record Date and the denominator shall be the sum of such number of shares and the total number of
shares constituting such dividend or other distribution. Such reduction shall become effective immediately after the opening of
business on the day following the date fixed for such determination. For the purposes of this paragraph (1), the number of shares
of Common Stock of the Company at any time outstanding shall not include shares held in the treasury of the Company, but shall
include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock. The Company shall
not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company.

 

(2)
Subject to paragraph (6) of this Section, if the Company pays or makes a dividend or other distribution on its Common Stock consisting
exclusively of Short Term Rights (as defined below), or otherwise issues Short Term Rights to all holders of its Common Stock,
the Conversion Price in effect at the opening of business on the day following the record date for the determination of holders
of Common Stock entitled to receive such Short Term Rights (the “Rights Record Date”) shall be reduced by multiplying
such Conversion Price by a fraction of which the numerator shall be the number of shares of Common Stock of the Company outstanding
at the close of business on the Rights Record Date plus the number of shares of Common Stock of the Company which the aggregate
of the offering price of the total number of shares of Common Stock so offered for subscription or purchase would purchase at
such current market price and the denominator shall be the number of shares of Common Stock of the Company outstanding at the
close of business on the Rights Record Date plus the number of shares of Common Stock so offered for subscription or purchase.
Such reduction shall become effective immediately after the opening of business on the day following the Rights Record Date. For
the purposes of this paragraph (2), the number of shares of Common Stock of the Company at any time outstanding shall not include
shares held in the treasury of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu
of fractions of shares of Common Stock of the Company. The Company shall not issue any rights, options or warrants in respect
of shares of its Common Stock held in the treasury of the Company. When used in this Section 1704, the term “Short Term
Rights” shall mean rights, warrants or options entitling the holders thereof (for a period commencing no earlier than the
Rights Record Date and expiring not more than 45 days after the Rights Record Date) to subscribe for or purchase shares of Common
Stock of the Company at a price per share less than the current market price per share (determined as provided in paragraph (7)
of this Section 1704) of the Common Stock of the Company on the Rights Record Date.

 

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(3)
In case outstanding shares of Common Stock of the Company shall be subdivided into a greater number of shares of Common Stock,
the Conversion Price in effect at the opening of business on the day following the day upon which such subdivision becomes effective
shall be proportionately reduced, and, conversely, in case outstanding shares of Common Stock of the Company shall be combined
into a smaller number of shares of Common Stock, the Conversion Price in effect at the opening of business on the day following
the day upon which such combination becomes effective shall be proportionately increased, such reduction or increase, as the case
may be, to become effective immediately after the opening of business on the day following the day upon which such subdivision
or combination becomes effective.

 

(4)
Subject to the last sentence of this paragraph (4) of this Section, if the Company, by dividend or otherwise, (a) distributes
to all holders of its Common Stock evidences of its indebtedness, shares of any class of Capital Stock of the Company or other
assets (other than cash dividends out of current or retained earnings), or (b) distributes to substantially all holders of Common
Stock rights or warrants to subscribe for securities (other than Short Term Rights to which paragraph (2) of this Section 1704
applies), the Conversion Price shall be reduced by multiplying such Conversion Price by a fraction of which the numerator shall
be the current market price per share (determined as provided in paragraph (7) of this Section 1704) of the Common Stock of the
Company on the Reference Date (as defined below) less the fair market value (as determined in good faith by the Board of Directors,
whose determination shall be conclusive and described in a Board Resolution filed with the Trustee), on the Reference Date, of
the portion of the evidences of indebtedness and other assets so distributed or of such subscription rights or warrants applicable
to one share of Common Stock (collectively, the “Market Value of the Distribution”) and the denominator shall be such
current market price per share of the Common Stock of the Company. Such reduction shall become effective immediately prior to
the opening of business on the day (the “Reference Date”) following the later of (a) the date fixed for the payment
of such distribution and (b) the date 20 days after notice relating to such distribution is required to be given pursuant to Section
1706(a). If the Board of Directors determines the fair market value of any distribution for purposes of this paragraph (4) by
reference to the actual or when issued trading market for any securities comprising such distribution, it must in doing so consider
the prices in such market over the same period used in computing the current market price per share pursuant to paragraph (7)
of this Section 1704. In the event that, with respect to any distribution to which this paragraph (4) of Section 1704 would otherwise
apply, the Market Value of the Distribution is greater than the current market price per share of the Common Stock (such distribution
being referred to herein as an “Unadjusted Distribution”), then the adjustment provided by this paragraph (4) shall
not be made and in lieu thereof the provisions of Section 1711 shall apply with respect to such Unadjusted Distribution.

 

(5)
The Company may, but shall not be required to, make such reductions in the Conversion Price, in addition to those required by
paragraphs (1), (2), (3), and (4) of this Section 1704, as it considers to be advisable in order that any event treated for federal
income tax purposes as a dividend of stock or stock rights shall not be taxable to the recipients. In addition, the Company, from
time to time, may decrease the Conversion Price by any amount and for any reason, temporarily or otherwise, including situations
where the Board of Directors determines such decrease to be fair and appropriate with respect to transactions in which holders
of Common Stock have the right to participate.

 

(6)
Rights or warrants issued or distributed by the Company to all holders of its Common Stock entitling the holders thereof to subscribe
for or purchase shares of Common Stock or Preferred Stock, which rights or warrants (i) are deemed to be transferred with such
shares of Common Stock, (ii) are not exercisable and (iii) are also issued or distributed in respect of future issuances of Common
Stock, in each case in clauses (i) through (iii) until the occurrence of a specified event or events (“Trigger Events”),
shall for purposes of this Section 1704 not be deemed issued or distributed until the occurrence of the earliest Trigger Event.
Each share of Common Stock issued upon conversion of Securities pursuant to this Article Seventeen shall be entitled to receive
the appropriate number of Common Stock purchase rights (the “Rights”), if any, and the certificates representing the
Common Stock issued upon conversion shall bear such legends, if any. Notwithstanding anything to the contrary in this Article
Seventeen, there shall not be any adjustment to the Conversion Price as a result of (i) the distribution of separate certificates
representing the Rights; (ii) the occurrence of certain events entitling holders of Rights to receive, upon exercise thereof,
Common Stock or other securities of the Company or other securities of another corporation; or (iii) the exercise of such Rights.
No adjustment in the Conversion Price need be made for rights to purchase or the sale of Common Stock pursuant to a Company plan
providing for reinvestment of dividends or interest.

 

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(7)
For the purpose of any computation under paragraph (2), (4) or (5) of this Section 1704, the “current market price”
per share of Common Stock of the Company on any date shall be deemed to be the average of the daily Closing Prices for the 15
consecutive Trading Days selected by the Company commencing not more than 30 Trading Days before, and ending not later than, the
date in question.

 

(8)
No adjustment in the Conversion Price shall be required unless such adjustment would require an increase or decrease of at least
1% in the Conversion Price; provided, however, that any adjustments which by reason of this paragraph (8) are not
required to be made shall be carried forward and taken into account in any subsequent adjustment. All calculations under this
Article Seventeen shall be made to the nearest cent or to the nearest one-hundredth of a share of Common Stock, as the case may
be.

 

(9)
Anything herein to the contrary notwithstanding, in the event the Company shall declare any dividend or distribution requiring
an adjustment in the Conversion Price hereunder and shall, thereafter and before the payment of such dividend or distribution
to stockholders, legally abandon its plan to pay such dividend or distribution, the Conversion Price then in effect hereunder,
if changed to reflect such dividend or distribution, shall upon the legal abandonment of such plan be changed to the Conversion
Price which would have been in effect at the time of such abandonment (after giving effect to all other adjustments not so legally
abandoned pursuant to the provisions of this Article Seventeen) had such dividend or distribution never been declared.

 

(10)
Notwithstanding any other provision of this Section 1704, no adjustment to the Conversion Price shall reduce the Conversion Price
below the then par value per share of the Common Stock of the Company, and any such purported adjustment shall instead reduce
the Conversion Price to such par value. Notwithstanding the foregoing sentence, the Company hereby covenants that it will from
time to time take all such action as may be required to assure that the par value per share of the Common Stock is at all times
equal to or less than the Conversion Price.

 

(11)
In the event that this Article Seventeen requires adjustments to the Conversion Price under more than one of paragraphs (1), (2),
(3) or (4) of this Section 1704, and the record or effective dates for the transaction giving rise to such adjustments shall occur
on the same date, then such adjustments shall be made by applying (to the extent they are applicable), first, the provisions of
paragraph (3) of this Section 1704, second, the provisions of paragraph (1) of this Section 1704, third, the provisions of paragraph
(4) of this Section 1704 and, fourth, the provisions of paragraph (2) of this Section 1704. Anything herein to the contrary notwithstanding,
no single event shall require or result in duplicative adjustments in the Conversion Price pursuant to this Section 1704. After
an adjustment to the Conversion Price under this Article Seventeen, any subsequent event requiring an adjustment under this Article
Seventeen shall cause an adjustment to the Conversion Price as so adjusted. If, after an adjustment, a Holder of a Security upon
conversion of such Security receives shares of two or more classes of Capital Stock of the Company, the Conversion Price shall
thereafter be subject to adjustment upon the occurrence of an action taken with respect to any such class of Capital Stock as
is contemplated by this Article Seventeen with respect to the Common Stock in this Article Seventeen.

 

SECTION
1705. Notice of Adjustments of Conversion Price. Whenever the Conversion Price is adjusted as herein provided:

 

(1)
the Company shall compute the adjusted Conversion Price in accordance with Section 1704 or Section 1711 and shall prepare an Officer’s
Certificate setting forth the adjusted Conversion Price and showing in reasonable detail the facts upon which such adjustment
is based, and such certificate shall forthwith be filed (with a copy to the Trustee) at each office or agency maintained for the
purpose of conversion of any Securities pursuant to Section 1002; and

 

(2)
a notice stating that the Conversion Price has been adjusted and setting forth the adjusted Conversion Price shall forthwith be
required, and as soon as practicable after it is required, such notice shall be mailed by the Company to all Holders at their
last addresses as they shall appear in the Security Register.

 

SECTION
1706. Notice of Certain Corporate Action. In case:

 

(1)
the Company shall take any action that would require a Conversion Price adjustment pursuant to Section 1704 or Section 1711; or

 

(2)
there shall occur any reclassification of the Common Stock of the Company (other than a subdivision or combination of its outstanding
shares of Common Stock), or any consolidation or merger to which the Company is a party, or the sale, transfer or lease of all
or substantially all of the assets of the Company and for which approval of any stockholders of the Company is required; or

 

    	57

    	 

    

 

(3)
there shall occur the voluntary or involuntary dissolution, liquidation or winding up of the Company, then the Company shall cause
to be filed at each office or agency maintained for the purpose of conversion of Securities pursuant to Section 1002, and shall
cause to be mailed to all Holders at their last addresses as they shall appear in the Security Register, at least 10 days prior
to the applicable record, effective or expiration date hereinafter specified, a notice stating (x) the date on which a record
is to be taken for the purpose of any dividend, distribution or granting of rights, warrants or options, or, if a record is not
to be taken, the date as of which the holders of Common Stock of record to be entitled to such dividend, distribution, rights,
options or warrants are to be determined, or (y) the date on which such reclassification, consolidation, merger, sale, transfer,
dissolution, liquidation or winding up is expected to become effective, and, if applicable, the date as of which it is expected
that holders of Common Stock of record shall be entitled to exchange their shares of Common Stock for securities, cash or other
property deliverable upon such reclassification, consolidation, merger, sale, transfer, dissolution, liquidation or winding up.

 

SECTION
1707. Company to Reserve Common Stock. The Company shall at all times reserve and keep available, free from preemptive
rights, out of its authorized but unissued Common Stock, for the purpose of effecting the conversion of Securities, a number of
shares of Common Stock for the conversion of all outstanding Securities of any series which is convertible into Common Stock.

 

SECTION
1708. Taxes on Conversion. The Company will pay any and all taxes that may be payable in respect of the issue or delivery
of shares of Common Stock on conversion of Securities pursuant hereto. The Company shall not, however, be required to pay any
tax which may be payable in respect of any transfer involved in the issue and delivery of shares of Common Stock in a name other
than that of the Holder of the Security or Securities to be converted, and no such issue or delivery shall be made unless and
until the Person requesting such issue has paid to the Company the amount of any such tax, or has established to the satisfaction
of the Company that such tax has been paid.

 

SECTION
1709. Covenants as to Common Stock. The Company covenants that all shares of Common Stock which may be issued upon conversion
of Securities will upon issue be duly and validly issued, fully paid and nonassessable, free of preemptive or any similar rights,
and, except as provided in Section 1708, the Company will pay all taxes, liens and charges with respect to the issue thereof.

 

The
Company will endeavor promptly to comply with all Federal and state securities laws regulating the offer and delivery of shares
of Common Stock upon conversion of Securities, if any, and will list or cause to have quoted such shares of Common Stock on each
national securities exchange or in the over-the-counter market or such other market on which the Common Stock is then listed or
quoted.

 

SECTION
1710. Cancellation of Converted Securities. All Securities delivered for conversion shall be delivered to the Trustee to
be cancelled by or at the direction of the Trustee, which shall dispose of the same as provided in Section 309.

 

SECTION
1711. Provisions in Case of Consolidation, Merger or Sale of Assets; Special Distributions. If any of the following shall
occur, namely: (i) any reclassification or change of outstanding shares of Common Stock issuable upon conversion of Securities
(other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision
or combination), (ii) any consolidation or merger to which the Company is a party other than a merger in which the Company is
the continuing corporation and which does not result in any reclassification of, or change (other than a change in name, or par
value, or from par value to no par value, or from no par value to par value or as a result of a subdivision or combination) in,
outstanding shares of Common Stock or (iii) any sale or conveyance of all or substantially all of the property or business of
the Company as an entirety, then the Person formed by such consolidation or resulting from such merger or which acquires such
properties or assets, as the case may be, shall as a condition precedent to such transaction execute and deliver to the Trustee
a supplemental indenture providing that the Holder of each Security then outstanding shall have the right thereafter, during the
period such Security shall be convertible as specified in Section 1701, to convert such Security only into the kind and amount
of securities, cash and other property receivable, if any, upon such consolidation, merger, sale, transfer or lease by a holder
of the number of shares of Common Stock of the Company into which such Security might have been converted immediately prior to
such consolidation, merger, sale, transfer or lease; provided that the kind and amount of securities, cash and other property
so receivable shall be determined on the basis of the following assumptions. The holder of Common Stock referred to in the foregoing
sentence:

 

    	58

    	 

    

 

(1)
is not (a) a Person with which the Company consolidated, (b) a Person into which the Company merged or which merged into the Company,
or (c) a Person to which such sale, transfer or lease was made (any Person described in the foregoing clauses (a), (b), or (c),
hereinafter referred to as a “Constituent Person”), or (d) an Affiliate of a Constituent Person; and

 

(2)
failed to exercise his rights of election, if any, as to the kind or amount of securities, cash and other property receivable
upon such consolidation, merger, sale, transfer or lease (provided that if the kind or amount of securities, cash and other property
receivable upon such consolidation, merger, sale transfer or lease is not the same for each share of Common Stock of the Company
in respect of which such rights of election shall not have been exercised, then for the purpose of this Section 1711 the kind
and amount of securities, cash and other property receivable upon such consolidation, merger, sale, transfer or lease shall be
deemed to be the kind and amount so receivable per share by a plurality of such shares of Common Stock).

 

Such
supplemental indenture shall provide for adjustments which, for events subsequent to the effective date of such supplemental indenture,
shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article Seventeen. If, in the case
of any such consolidation, merger, sale transfer or lease the stock or other securities and property (including cash) receivable
thereupon by a holder of Common Stock includes shares of stock or other securities and property of a corporation other than the
successor or purchasing corporation, as the case may be, in such consolidation, merger, sale, transfer or lease then such supplemental
indenture shall also be executed by such other corporation and shall contain such additional provisions to protect the interests
of the Holders of the Securities as the Board of Directors of the Company shall reasonably consider necessary by reason of the
foregoing. The above provisions of this Section 1711 shall similarly apply to successive consolidations, mergers, sales, transfers
or leases.

 

In
the event the Company shall execute a supplemental indenture pursuant to this Section 1711, the Company shall promptly file with
the Trustee an Officers’ Certificate briefly stating the reasons therefor, the kind or amount of shares of stock or securities
or property (including cash) receivable by Holders of the Securities upon the conversion of their Securities after any such reclassification,
change, consolidation, merger, sale, transfer or lease and any adjustment to be made with respect thereto.

 

If
the Company makes a distribution to all holders of its Common Stock that constitutes an Unadjusted Distribution pursuant to the
last sentence of paragraph (4) of Section 1704, then, from and after the record date for determining the holders of Common Stock
entitled to receive such distribution (the “Distribution Record Date”), a Holder of a Security who converts such Security
in accordance with the provisions of this Indenture shall, upon conversion, be entitled to receive, in addition to the shares
of Common Stock into which the Security is convertible, the kind and amount of evidences of indebtedness, shares of Capital Stock,
or other assets or subscription rights or warrants, as the case may be, comprising the distribution that such Holder would have
received if such Holder had converted the Security immediately prior to the Distribution Record Date.

 

SECTION
1712. Trustee Adjustment Disclaimer; Company Determination Final. The Trustee has no duty to determine when an adjustment
under this Article Seventeen should be made, how it should be made or what it should be. The Trustee has no duty to determine
whether a supplemental indenture under Section 1711 need be entered into or whether any provisions of any supplemental indenture
are correct. The Trustee shall not be accountable for and makes no representation as to the validity or value of any securities
or assets issued upon conversion of Securities. The Trustee shall not be responsible for the Company’s failure to comply
with this Article Seventeen. Any determination that the Company or the Board of Directors must make pursuant to this Article Seventeen
is conclusive, absent manifest error.

 

SECTION
1713. When No Adjustment Required. Except as expressly set forth in Section 1704, no adjustment in the Conversion Price
shall be made because the Company issues, in exchange for cash, property or services, shares of its Common Stock, or any securities
convertible into or exchangeable for shares of its Common Stock, or securities (including warrants, rights and options) carrying
the right to subscribe for or purchase shares of its Common Stock or such convertible or exchangeable securities.

 

(1)
Notwithstanding anything herein to the contrary, no adjustment in the Conversion Price shall be made pursuant to Section 1704
in respect of any dividend or distribution if the Holders may participate therein (on a basis to be determined in good faith by
the Board of Directors) and receive the same consideration they would have received if they had converted the Securities immediately
prior to the record date with respect to such dividend or distribution.

 

SECTION
1714. Equivalent Adjustments. In the event that, as a result of an adjustment made pursuant to Section 1704 above, the
holder of any Security thereafter surrendered for conversion shall become entitled to receive any shares of Capital Stock of the
Company other than shares of its Common Stock, thereafter the Conversion Price of such other shares so receivable upon conversion
of any Securities shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable
to the provisions with respect to Common Stock contained in this Article Seventeen.

 

    	59

    	 

    

 

SIGNATURES

 

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

 

	 	ADVAXIS, INC.
	 	 	 
	 	By:	      
	 	Name:	 
	 	Title:	 

 

	 	, 
	 	as
    Trustee

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	60

    	 

    

 

EXHIBIT
A

 

FORM
OF REDEEMABLE OR NON-REDEEMABLE SUBORDINATED SECURITY

 

[Face
of Security]

 

[If
the Holder of this Security (as indicated below) is The Depository Trust Company (“DTC”) or a nominee of DTC, this
Security is a Global Security and the following two legends apply:

 

Unless
this Security is presented by an authorized representative of The Depository Trust Company a New York corporation (“DTC”)
to the Company or its agent for registration of transfer, conversion, exchange or payment, and such Security issued is registered
in the name of Cede & Co., or in such other name as requested by an authorized representative of DTC (and any payment is made
to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, inasmuch as the registered owner hereof, Cede & Co., has
an interest herein. 

 

Unless
and until this Security is exchanged in whole or in part for Securities in certificated form, this Security may not be transferred
except as a whole by DTC to a nominee thereof or by a nominee thereof to DTC or another nominee of DTC or by DTC or any such nominee
to a successor of DTC or a nominee of such successor.]

 

[If
this Security is an Original Issue Discount Security, insert — FOR PURPOSES OF SECTION 1273 and 1275 OF THE UNITED
STATES INTERNAL REVENUE CODE, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ON THIS SECURITY IS       %
OF ITS PRINCIPAL AMOUNT, THE ISSUE DATE IS            , 20
     , AND THE YIELD TO MATURITY IS       %. THE METHOD USED TO DETERMINE
THE AMOUNT OF ORIGINAL ISSUE DISCOUNT APPLICABLE TO THE SHORT ACCRUAL PERIOD OF
          , 20 TO           , 20
       , IS       % OF THE PRINCIPAL AMOUNT OF THIS
SECURITY.]

 

ADVAXIS,
INC.

 

[Designation
of Series]

 

	No.
                    	  	$        
	 	 	 
	CUSIP
    No.                 	  	 

 

ADVAXIS,
INC., a Delaware corporation (herein referred to as the “Company,” which term includes any successor corporation
under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to
          or registered assigns the principal sum of
              Dollars on
              (the “Stated Maturity Date”) [or insert
date fixed for earlier redemption (the “Redemption Date,” and together with the Stated Maturity Date with
respect to principal repayable on such date, the “Maturity Date.”)]

 

[If
the Security is to bear interest prior to Maturity, insert — and to pay interest thereon from
            or from the most recent Interest Payment Date to
which interest has been paid or duly provided for, semi-annually
on              and
            in each year (each, an “Interest Payment
Date”), commencing               , at the rate of %
per annum, until the principal hereof is paid or duly provided for. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Holder in whose name this
Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such
interest, which shall be the               or
              (whether or not a Business Day), as the case
may be, next preceding such Interest Payment Date [at the office or agency of the Company maintained for such purpose; provided, however,
that such interest may be paid, at the Company’s option, by mailing a check to such Holder at its registered address or
by transfer of funds to an account maintained by such Holder within the United States]. Any such interest not so punctually
paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date, and may be paid to
the Holder in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Securities of this series not less than 10 days prior to such Special Record Date, or may be paid at any time in
any other lawful manner not inconsistent with the requirements of any over-the-counter market or securities exchange on which
the Securities of this series may be quoted or listed, and upon such notice as may be required by such market or exchange,
all as more fully provided in the Indenture. Interest will be computed on the basis of a 360-day year of twelve 30-day
months.]

 

    	61

    	 

    

 

[If
the Security is not to bear interest prior to Maturity, insert — The principal of this Security shall not
bear interest except in the case of a default in payment of principal upon acceleration, upon redemption or at the
[Stated] Maturity Date and in such case the overdue principal of this Security shall bear interest at the rate of
       % per annum (to the extent that the payment of such interest shall be legally
enforceable), which shall accrue from the date of such default in payment to the date payment of such principal has been made
or duly provided for. Interest on any overdue principal shall be payable on demand. Any such interest on any overdue
principal that is not so paid on demand shall bear interest at the rate of       % per annum (to the
extent that the payment of such interest shall be legally enforceable), which shall accrue from the date of such demand for
payment to the date payment of such interest has been made or duly provided for, and such interest shall also be payable on
demand.]

 

The
principal of this Security payable on the Stated Maturity Date [or the principal of, premium or Make-Whole Amount, if any,
and, if the Redemption Date is not an Interest Payment Date, interest on this Security payable on the Redemption Date] will
be paid against presentation of this Security at the office or agency of the Company maintained for that purpose in
            , in such coin or currency of the United States of America
as at the time of payment is legal tender for the payment of public and private debts.

 

Interest
payable on this Security on any Interest Payment Date and on the [Stated] Maturity Date [or Redemption Date, as the case may
be,] will include interest accrued from and including the next preceding Interest Payment Date in respect of which interest
has been paid or duly provided for (or from and including
                , if no interest has been paid on
this Security) to but excluding such Interest Payment Date or the [Stated] Maturity Date [or Redemption Date, as the case may
be.] If any Interest Payment Date or the [Stated] Maturity Date or [Redemption Date] falls on a day that is not a Business
Day, as defined below, principal, premium or Make-Whole Amount, if any, and/or interest payable with respect to such Interest
Payment Date or [Stated] Maturity Date [or Redemption Date, as the case may be,] will be paid on the next succeeding Business
Day with the same force and effect as if it were paid on the date such payment was due, and no interest shall accrue on the
amount so payable for the period from and after such Interest Payment Date or [Stated] Maturity Date [or Redemption Date, as
the case may be.] “Business Day” means any day, other than a Saturday or Sunday, that is neither a legal holiday
nor a day on which banking institutions in The City of New York are required or authorized by law, regulation or executive
order to close.

 

[If
this Security is a Global Security, insert — All payments of principal, premium or Make-Whole Amount, if any, and interest
in respect of this Security will be made by the Company in immediately available funds.]

 

Reference
is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

 

Unless
the Certificate of Authentication hereon has been executed by the Trustee by manual signature of one of its authorized signatories,
this Security shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose.

 

IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its facsimile corporate seal.

 

	Dated:
	 	 	 	 
	 	 	 	ADVAXIS, INC.
	 	 	 	 	              
	 	 	 	By:	 
	 	 	 	Name:	 
	 	 	 	Title:	 
	 	 	 	 	 
	Attest:  	 	 	 
	 	 	 	 	 
	 	 	 	 
	Secretary  	 	 	 

 

    	62

    	 

    

 

[Reverse
of Security]

 

ADVAXIS,
INC.

 

This
Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and
to be issued in one or more series under an

 

Indenture,
dated as of                  , 20 (herein called the “Indenture”) between the Company and                   , as Trustee (herein called the “Trustee,”
which term includes any successor trustee under the Indenture with respect to the series of which this Security is a part), to
which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations
of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon
which the Securities are, and are to be, authenticated and delivered. This Security is one of the duly authorized series of Securities
designated on the face hereof (collectively, the “Securities”), [if applicable, insert — and the aggregate
principal amount of the Securities to be issued under such series is limited to $                   (except for Securities authenticated and delivered
upon transfer of, or in exchange for, or in lieu of other Securities).] All terms used in this Security which are defined in the
Indenture shall have the meanings assigned to them in the Indenture.

 

If
an Event of Default, as defined in the Indenture, shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture.

 

[If
applicable, insert — The Securities may not be redeemed prior to the Stated Maturity Date.]

 

[If
applicable, insert — The Securities are subject to redemption [ (l) (If applicable, insert — on                   in any
year commencing with the year                   and ending with the year                   through operation of the sinking fund for this series at a Redemption Price
equal to 100% of the principal amount, and (2) ] [If applicable, insert — at any time [on or after                   ], as a whole
or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal amount):

 

If
redeemed on or before
                 ,      % and if redeemed
during the 12-month period beginning
                 of the years indicated
at the Redemption Prices indicated below.

 

	Year	 	Redemption
    Price	 	Year	 	Redemption
    Price	 
	 	 	 	 	 	 	 	 

 

and
thereafter at a Redemption Price equal to               % of the principal amount, together in the case of any such redemption [If applicable,
insert — (whether through operation of the sinking fund or otherwise)] with accrued interest to the Redemption Date;
provided, however, that installments of interest on this Security whose Stated Maturity is on or prior to such Redemption
Date will be payable to the Holder of this Security, or one or more Predecessor Securities, of record at the close of business
on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.]

 

[If
applicable, insert — The Securities are subject to redemption (1) on               in any year commencing with the year               and ending
with the year               through operation of the sinking fund for this series at the Redemption Prices for redemption through operation
of the sinking fund (expressed as percentages of the principal amount) set forth in the table below, and (2) at any time [on or
after               ], as a whole or in part, at the election of the Company, at the Redemption Prices for redemption otherwise than through
operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during
the 12-month period beginning               of the years indicated,

 

	Year
	  	Redemption
    Price for

    Redemption Through

    Operation of the Sinking Fund	  	Redemption
    Price for

    Redemption Otherwise Than

    Through Operation of the

    Sinking Fund
	    	  	 	  	 

 

and
thereafter at a Redemption Price equal to               % of the principal amount, together in the case of any such redemption (whether through
operation of the sinking fund or otherwise) with accrued interest to the Redemption Date; provided, however, that
installments of interest on this Security whose Stated Maturity is on or prior to such Redemption Date will be payable to the
Holder of this Security, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates
referred to on the face hereof, all as provided in the Indenture.]

 

    	63

    	 

    

 

[If
applicable, insert — Notwithstanding the foregoing, the Company may not, prior to               , redeem any Securities as contemplated
by [Clause (2) of] the preceding paragraph as a part of, or in anticipation of, any refunding operation by the application, directly
or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance with generally accepted financial
practice) of less than               % per annum.]

 

[If
applicable, insert — The sinking fund for the Securities provides for the redemption on               in each year, beginning with
the year               and ending with the year               , of [not less than] $               ] [(“mandatory sinking fund”) and not more than $               ] aggregate
principal amount of the Securities. [The Securities acquired or redeemed by the Company otherwise than through [mandatory] sinking
fund payments may be credited against subsequent [mandatory] sinking fund payments otherwise required to be made in the [describe
order] order in which they become due.]]

 

Notice
of redemption will be given by mail to Holders of Securities, not less than 30 nor more than 60 days prior to the Redemption Date,
all as provided in the Indenture.

 

In
the event of redemption of this Security in part only, a new Security or Securities for the unredeemed portion hereof shall be
issued in the name of the Holder hereof upon the cancellation hereof.

 

[If
applicable, insert conversion provisions set forth in any Board Resolution or indenture supplemental to the Indenture.]

 

The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities under the Indenture at any time by the Company and the Trustee
with the consent of the Holders of not less than a majority of the aggregate principal amount of all Securities issued under the
Indenture at the time Outstanding and affected thereby. The Indenture also contains provisions permitting the Holders of not less
than a majority of the aggregate principal amount of the Outstanding Securities, on behalf of the Holders of all such Securities,
to waive compliance by the Company with certain provisions of the Indenture. Furthermore, provisions in the Indenture permit the
Holders of not less than a majority of the aggregate principal amount, in certain instances, of the Outstanding Securities of
any series to waive, on behalf of all of the Holders of Securities of such series, certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder
and upon all future Holders of this Security and other Securities issued upon the registration of transfer hereof or conversion
or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

 

No
reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of (and premium or Make-Whole Amount, if any) and interest
on this Security at the times, places and rate, and in the coin or currency, herein prescribed.

 

As
provided in the Indenture and subject to certain limitations therein [and herein] set forth, the transfer of this Security is
registrable in the Security Register of the Company upon surrender of this Security for registration of transfer at the office
or agency of the Company in any place where the principal of (and premium or Make-Whole Amount, if any) and interest on this Security
are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more
new Securities, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee
or transferees.

 

As
provided in the Indenture and subject to certain limitations therein [and herein] set forth, this Security is exchangeable for
a like aggregate principal amount of Securities of different authorized denominations but otherwise having the same terms and
conditions, as requested by the Holder hereof surrendering the same.

 

This
Security is subordinated to the prior payment in full in cash of Senior Indebtedness to the extent set forth in Article Sixteen
of the Indenture.

 

The
Securities of this series are issuable only in registered form [without coupons] in denominations of $               and any integral multiple
thereof.

 

No
service charge shall be made for any such registration of transfer or conversion or exchange, but the Company may require payment
of a sum sufficient to cover any tax or other governmental charge payable in connection therewith,

 

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

 

No
recourse shall be had for the payment of the principal of or premium or Make-Whole Amount, if any, or the interest on this Security,
or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental
thereto, against any past, present or future stockholder, employee, officer or director, as such, of the Company or of any successor,
either directly or through the Company or any successor, whether by virtue of any constitution, statute or rule of law or by the
enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration
for the issue hereof, expressly waived and released.

 

The
Indenture and the Securities shall be governed by and construed in accordance with the laws of the State of New York applicable
to agreements made and to be performed entirely in such State.

 

    	64

    	 

    

 

EXHIBIT
B

 

FORMS
OF CERTIFICATION

 

EXHIBIT
B-1

 

FORM
OF CERTIFICATE TO BE GIVEN BY PERSON ENTITLED TO RECEIVE BEARER SECURITY OR TO OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE DATE

 

CERTIFICATE

 

[Insert
title or sufficient description of Securities to be delivered]

 

This
is to certify that, as of the date hereof, and except as set forth below, the above-captioned Securities held by you for our account
(i) are owned by person(s) that are not citizens or residents of the United States, domestic partnerships, domestic corporations
or any estate or trust the income of which is subject to United States Federal income taxation regardless of its source (“United
States person(s)”), (ii) are owned by United States person(s) that are (a) foreign branches of United States financial institutions
(financial institutions, as defined in United States Treasury Regulations Section 2.165-12(c)(1)(v) are herein referred to as
“financial institutions”) purchasing for their own account or for resale, or (b) United States person(s) who acquired
the Securities through foreign branches of United States financial institutions and who hold the Securities through such United
States financial institutions on the date hereof (and in either case (a) or (b), each such United States financial institution
hereby agrees, on its own behalf or through its agent, that you may advise Advaxis, Inc. or its agent that such financial institution
will comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the United States Internal Revenue Code of 1986, as amended,
and the regulations thereunder), or (iii) are owned by United States or foreign financial institution(s) for purposes of resale
during the restricted period (as defined in United States Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)), and, in addition,
if the owner is a United States or foreign financial institution described in clause (iii) above (whether or not also described
in clause (i) or (ii)), this is to further certify that such financial institution has not acquired the Securities for purposes
of resale directly or indirectly to a United States person or to a person within the United States or its possessions.

 

As
used herein, “United States” means the United States of America (including the States and the District of Columbia);
and its “possessions” include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern
Mariana Islands.

 

We
undertake to advise you promptly by tested telex or by telecopy on or prior to the date on which you intend to submit your certification
relating to the above-captioned Securities held by you for our account in accordance with your operating procedures if any applicable
statement herein is not correct on such date, and in the absence of any such notification it may be assumed that this certification
applies as of such date.

 

This
certificate excepts and does not relate to [U.S.$] of such interest in the above-captioned Securities in respect of which we are
not able to certify and as to which we understand an exchange for an interest in a permanent Global Security or an exchange for
and delivery of definitive Securities (or, if relevant, collection of any interest) cannot be made until we do so certify.

 

We
understand that this certificate may be required in connection with certain tax legislation in the United States. If administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate or a copy thereof to any interested party in such proceedings.

 

Dated:

 

[To
be dated no earlier than the 15th day prior to (i) the Exchange Date or (ii) the relevant Interest Payment Date occurring prior
to the Exchange Date, as applicable]

 

	 	[Name
    of Person Making Certification]
	 	 
	 	 

	 	(Authorized
    Signature)
	 	Name:
	 	Title:

 

    	65

    	 

    

 

EXHIBIT
B-2

 

FORM
OF CERTIFICATE TO BE GIVEN BY EUROCLEAR AND CLEARSTREAM S.A. IN CONNECTION WITH THE EXCHANGE OF A PORTION OF A TEMPORARY GLOBAL
SECURITY OR TO OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE DATE

 

CERTIFICATE

 

[Insert
title or sufficient description of Securities to be delivered]

 

This
is to certify that, based solely on written certifications that we have received in writing, by tested telex or by electronic
transmission from each of the persons appearing in our records as persons entitled to a portion of the principal amount set forth
below (our “Member Organizations”) substantially in the form attached hereto, as of the date hereof, [U.S.$] principal
amount of the above-captioned Securities (i) is owned by person(s) that are not citizens or residents of the United States, domestic
partnerships, domestic corporations or any estate or trust the income of which is subject to United States Federal income taxation
regardless of its source (“United States person(s)”), (ii) is owned by United States person(s) that are (a) foreign
branches of United States financial institutions (financial institutions, as defined in U.S. Treasury Regulations Section 1.165-12(c)(1)(v)
are herein referred to as “financial institutions”) purchasing for their own account or for resale, or (b) United
States person(s) who acquired the Securities through foreign branches of United States financial institutions and who hold the
Securities through such United States financial institutions on the date hereof (and in either case (a) or (b), each such financial
institution has agreed, on its own behalf or through its agent, that we may advise Advaxis, Inc. or its agent that such financial
institution will comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the Internal Revenue Code of 1986, as amended,
and the regulations thereunder), or (iii) is owned by United States or foreign financial institution(s) for purposes of resale
during the restricted period (as defined in United States Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)), and, to the further
effect, that financial institutions described in clause (iii) above (whether or not also described in clause (i) or (ii)) have
certified that they have not acquired the Securities for purposes of resale directly or indirectly to a United States person or
to a person within the United States or its possessions.

 

As
used herein, “United States” means the United States of America (including the States and the District of Columbia);
and its “Possessions” include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern
Mariana Islands.

 

We
further certify that (i) we are not making available herewith for exchange (or, if relevant, collection of any interest) any portion
of the temporary Global Security representing the above-captioned Securities excepted in the above-referenced certificates of
Member Organizations and (ii) as of the date hereof we have not received any notification from any of our Member Organizations
to the effect that the statements made by such Member Organizations with respect to any portion of the part submitted herewith
for exchange (or, if relevant, collection of any interest) are no longer true and cannot be relied upon as of the date hereof.

 

We
understand that this certification is required in connection with certain tax legislation in the United States. If administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate or a copy thereof to any interested party in such proceedings.

 

Dated:

 

[To
be dated no earlier than the Exchange Date or the relevant Interest Payment Date occurring prior to the Exchange Date, as applicable]

 

[
           , as Operator of the Euroclear System] [Clearstream Banking Luxembourg]

 

	 	 	 
	 	By: 	 
	 	Name:	 
	 	Title:	 

 

    	66Exhibit

    

                 Exhibit 10.38                  
NOTE:  Portions of this Exhibit are the subject of a Confidential Treatment Request by the Registrant to the Securities and Exchange Commission (the “Commission”).  Such portions have been redacted and are marked with a “[***]” in the place of the redacted language.  The redacted information has been filed separately with the Commission.
AOS Confidential  

        Contract No: YZ(2018)0401

Financing Lease Contract
 (Sale and Leaseback)

Lessor (Party A): Chongqing Yinhai Financing Lease Co., Ltd.

Lessee (Part B): Chongqing Alpha and Omega Semiconductor Limited
                       
Date of Signing: May 9, 2018 

Place of Signing: Yubei, Chongqing 

WHEREAS:
(1) For the purpose of the Financing Lease between the Lessor and the Lessee, the Lessor will purchase the leased items owned by the Lessee from the Lessee and lease it back to the Lessee for use.
(2) According to relevant laws and regulations of the People's Republic of China, both parties voluntarily enter into this Financing Lease Contract by consensus.
Part 1 Commercial Terms
	
															
	Parties

	Lessor: Chongqing Yinhai Financing Lease Co., Ltd. (hereinafter referred to as “Party A”)
Legal Representative: Pang Xianwei
Registered Address: No. 2, 3/F, Tower A, Haiwangxing Technology Building, No. 62 Xingguang Road, North New District, Chongqing
	Lessee: [Chongqing Alpha and Omega Semiconductor Limited] (hereinafter referred to as "Party B")
Legal Representative: [MIKE FUSHING CHANG]
Registered Address: [No.5-407, Yuhan Avenue, Shuitu High-tech Industrial Park, Beibei District, Chongqing]

	Leased items (see Annex I List of Leased Items for Details)

	No.

	Name of Leased Items
	Seller Name

	Specifications and Models

	Invoice No.
	Quantity
	Unit Price
	Total Price
	Assessed Value

	leased items use location: No.5-407, Yuhan Avenue, Shuitu High-tech Industrial Park, Beibei District, Chongqing

	Lease Conditions

	Assessed Value of the Leased Items (can be Omitted If Assessment is Exempted)

	In figures: ¥ [***]. In words: [***]

	Lease Funds
(Purchase Price of the Leased Items)
	In figures: ¥ [475,000,000.00]. In words: [RMB four hundred and seventy-five million]

	

*** CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION

 1 / 30

	
															
	Down Payment of the Rents
	In figures: ¥ [75,000,000.00]. In words: [RMB seventy-five million]. Party B shall deliver a one-off down payment of rents to Party A or a third party designated by Party A before  May 11, 2018.

	Lease Principal
	In figures: ¥ [400,000,000.00]. In words: [RMB four hundred million]

	Lease Rate of Interest
	[5.4625]% (15% over the benchmark interest rate for the same period), floated interest rate [√], fixed interest rate [/]

	Purchase Price
	In figures: ¥ [1.00]. In words: [RMB one]

	Term of Lease

	60 months in total, starting from the Lease Commencement Date 

	Purpose of Funds
	Operation

	Payment of Rents

	Payment Method of the Rents
	Pay interest on a quarterly basis and the total is 20 periods. The grace periods of repayment of principal are from 1st period to 3rd period. The proportion of repayment of principal of each period is 3% of the actual investment amount from the 4th to 7th period, 6.75% of the actual investment amount from the 8th to 19th period, and 7% of the actual investment amount for the 20th period. If the project is to be invested by stages, the rent payment method shall be determined in accordance with this principle.

	Rent Payable for Each Period
	For details, please refer to Annex II Rent Payment Estimates

	Accounts for Payment Collection of the Parties

	Information of Party A's account for payment collection:
Bank: Chongqing Branch of China Export-Import Bank
Account Name: Chongqing Yinhai Financing Lease Co., Ltd.
Account No.: 2100000100000237876
	Information of Party B 's account for payment collection:
Bank: Chongqing Branch of China Export-Import Bank
Account Name: Chongqing Alpha and Omega Semiconductor Limited
Account No.:

	Security Method (All Security Methods are Listed in this Article and can be Added)

	Guarantee
	/

	Mortgage
	/

	Pledge
	/

	Insurance

 2 / 30

	
															
	Insurance Type
	All-Risk Property Insurance

	Policyholder
	Party B

	Beneficiary
	Party A or any third party designated by Party A

	Insured Period
	Cover the entire lease period

	Insured Amount
	Cover at least the lease principal

	Insurance
Premium
	Subject to the approved amount of the insurance company

	Entity to Assume the Premium
	Party B

	Contact Information

	Party A’s contact information:
Contact: Liu Ying
Tel.: 18623457667
E-mail: 2851719785@qq.com
Fax: 023-67680191
Address: No. 2, 3/F, Tower A, Haiwangxing Technology Building, No. 62 Xingguang Road, North New District, Chongqing
	Party B’s contact information:
Contact: Yang Liyan
Tel.: 13795368681
E-mail: lyla.yang@cqaos.com
Fax:
Address: No. 117, Yunhan Road, Shuitu Hi-Tech Industrial Park, Liangjiang New District, Chongqing (Room 205, Office Building, Administrative Committee of the Park)

	Other

	Number of Contract Counterparts
	This Contract is made in sextuplicate with each party holding two and the rest two of which remain.

 3 / 30

 Part 2 General Terms
Article 1 Definition
		
	1.1
	Financing Lease: refers to the trading activities that the Lessor, according to the choice or approval of the Lessee regarding the leased items and supplier, leases the leased items it acquires from the supplier to the Lessee for the Lessee to possess and use according to the contract, and collects the rents from the Lessee.

		
	1.2
	Sale and Leaseback: refers to the type of Financing Lease that the Lessee sells its own items to the Lessor, signs a Financing Lease contract with the Lessor at the same time, and then rents the items back from the Lessor.

		
	1.3
	Lease Commencement Date: refers to the date on which Party A pays Party B the first payment for the purchase price of the leased items.

		
	1.4
	Lease Funds: refers to the total price that Party A purchases the leased items from Party B.

		
	1.5
	Down Payment of Rents: refers to the one-off payment for the first-time rent paid by Party B to Party A on the lease commencement date.

		
	1.6
	Lease Principal: refers to the financing amount actually provided by Party A for Party B after deduction of the Down Payment of Rents from the Lease Funds.

		
	1.7
	Lease Costs: refers to the sum of the contract price, pre-lease interest and grace-period interest paid by Party A for purchase of the leased items, and other expenses that both Parties agree to count into costs.

		
	1.8
	Lease Interest Rate: refers to the annual interest rate used to calculate the rents within the lease term agreed upon by both Parties.

		
	1.9
	Interest-Bearing Method: The interest of the lease payments under this Contract is calculated from the Lease Commencement Date (delivery day of the Lease Funds). The calculation formula of daily accrued interest is: daily accrued interest = balance of the Lease Principal of the day × Lease Interest Rate/360.

		
	1.10
	Lease Term: refers to the lease term agreed in Part 1 of this Contract.

		
	1.11
	The Purchase Price refers to the price of the leased items repurchased by Party B after Party B pays off all the rents and other payables (including the possible overdue interest penalty and economic loss compensation, etc.) in accordance with the provisions of this Contract.

		
	1.12
	Overdue Interest: All Overdue Interest under this Contract is calculated based on 0.0005 of the overdue amount.

 4 / 30

Article 2 Leased Items
		
	2.1
	The leased items as stipulated in this Contract are originally owned by Party B. Party B transfers the leased items to Party A according to the Contract, and Party A leases back the equipment and other assets used by Party B. The specific content is shown in Annex I List of Leasing Items.

		
	2.2
	Party B guarantees that it has independent, complete and legal ownership of the leased items it transfers to Party A, no mortgage, pledge and other security rights have been set on the leased items in any way, and there is no priority or any other defect of right.

Article 3 Purchase of the Leased Items
		
	3.1
	Party B shall transfer the leased items to Party A in the form of sale and leaseback for the purpose of financing; Party A shall accept the leased items transferred by Party B according to Party B's above-mentioned purpose and lease it back to Party B for use.

		
	3.2
	Party B shall submit to Party A an assessment report of the leased items, a capital verification report of the leased items or the purchase contract (if any) and the original copy of the invoice (if any) within ten working days after the signing of the Contract.

		
	3.3
	The leased items transferred by Party B to Party A shall be deemed to be owned by Party A on the date that Party A pays Party B the first payment of the Lease Funds in accordance with Article 4 of this Contract. Party B shall issue to Party A the Certificate of Ownership Transfer I (Lessee to Lessor) (see Annex VII for details) of the leased items within three working days after receiving the first payment of the Lease Funds. Party B’s failure of issuance will not affect Party A's ownership of the leased items.

		
	3.4
	If Party A fails to complete the second payment of the Lease Funds within 10 working days after the first payment of the Lease Funds, Party A agrees to refund the service charges and security deposit to Party B in full (without interest) after Party B returns Party A's actual payment of the Lease Funds (without interest) to Party A. In addition, Party A agrees that the ownership of the leased items shall be transferred to Party B after all the payments of Party A and Party B are returned.

 
Article 4 Lease Funds and Payment
		
	4.1
	Both Parties agreed that the Lease Funds of the leased items shall be determined in accordance with Part 1 Commercial Terms.

		
	4.2
	Way of payment of the Lease Funds: Party A and Party B agree to pay in accordance with the following (3rd) way upon negotiation:

 5 / 30

		
	(1)
	One-off payment:

Party A shall pay Party B a lump sum of the Lease Funds within 5 working days after all the payment conditions agreed in this Contract are satisfied.
		
	(2)
	Installments:

Party A shall pay Party B the down payment of the Lease Funds of RMB  /  within 5 working days after all the payment conditions agreed in this Contract are satisfied. The remaining Lease Funds shall be paid in installments. The specific payment time and amount shall be:           /        .
		
	(3)
	Other payment methods: Party A shall pay Party B the down payment of the Lease Funds of RMB 96,000,000.00 (in words: RMB ninety-six million) within 5 working days after the payment conditions agreed in this Contract are all satisfied; the remaining Lease Funds is RMB 379,000,000.00 (in words: RMB three hundred and seventy nine million), which shall be paid in full within 10 working days after the down payment of the Lease Funds and the payment of Party B’s security deposit are paid.

		
	4.3
	After all the following conditions of Item (1), (2), (3), (4) and (5) are met, Party A shall pay the down payment of the Lease Funds to Party B in accordance with the payment method stipulated in Article 4.2 of this Contract. The bank account information designated by Party B for payment collection is as follows:

Account Name: Chongqing Alpha and Omega Semiconductor Limited
Bank: Chongqing Branch of China Export-Import Bank 
Account No.:
		
	(1)
	All contracts required between Party A and Party B on the Financing Lease have been fully signed and become effective;

		
	(2)
	If Party B or other related parties provide Party A with any guarantee in relation to the performance of obligations of Party B under this Contract, relevant security contract has been signed and becomes effective, related procedures under the security contract (including but not limited to notarization, mortgage/pledge registration of the guarantee and insurance etc.) have been completed, and the asset lists of Party B and the guarantor and other materials have been provided in accordance with Party A's request;

		
	(3)
	Party B has remitted the Down Payment of Rents, service charges and other payables payable to Party A under this Contract to bank account designated by Party A;

 6 / 30

		
	(4)
	Party B has provided Party A with an assessment report of the leased items, a capital verification report of the leased items or the purchase contract (if any) and the original copy of the invoice (if any);

		
	(5)
	Other conditions: a formal assessment report to acquire the leased items.

		
	4.4
	Party B shall use the Lease Funds paid by Party A according to the agreed purpose of both parties, and shall bear the taxes and expenses (if any) arising from the transfer of the leased items under this Contract.

Article 5 Delivery of the Leased Items and Handling of Quality Defects 
		
	5.1
	This Contract is a sale-and-leaseback contract. The leased items originally belong to Party B and has been occupied, used, and kept by Party B. Party A and Party B do not need to go through the procedures for transfer and physical handover of the leased items. After Party A pays Party B the down payment of the Lease Funds, it is deemed that the leased items are received and accepted by Party B (as the Lessee) in the complete state. Party B shall issue the Proof of Receipt of the Leased Items to Party A. Party B’s failure to do so will not affect the recognition of the fact that Party B has received and accepted the leased items upon acceptance check. However, Party B shall not, at any time, object to any of the accepted leased items on the ground that the Proof of Receipt of the Leased Items has not been issued.

		
	5.2
	Any quality issues or any other problems that affect the normal use of the leased items during the term of this Contract shall be the responsibility of Party B. Party A shall not bear any responsibility. Party B shall not thereby refuse to pay the rents or perform other obligations agreed in the Contract.

		
	5.3
	As Party B has purchased and used the leased items before signing of this Contract, Party B shall bear full responsibility for its own choice and decision. If the quality, specifications, technical performance and quantity etc. of the goods delivered by the original supplier are not in conformity with the contract signed by the original supplier and Party B, or any quality problem occurs within the warranty period as stipulated in the sales contract, Party B shall directly file a claim with the original supplier and Party A shall not bear any responsibility for such issues. However, Party A may provide Party B with certain assistance within a reasonable range. All costs incurred therefrom shall be borne by Party B (including but not limited to litigation fees, arbitration fees, property preservation fees, preservation guarantee fees, travel expenses, implementation fees, assessment fees, auction fees, notary fees, delivery fees, announcement fees and attorney fees, etc.) The results of the claim are enjoyed by Party B. Regardless of whether Party B can be compensated through the claim, and whether or not the claim is in progress, Party B's rent payment and other obligations under this Contract will not be affected.

Article 6 Ownership and Public Notification of the Leased Items

 7 / 30

		
	6.1
	After Party A pays the down payment of the Lease Funds for the leased items to Party B according to the provisions in this Contract, the owner of the leased items shall be changed to Party A (such ownership covers the auxiliary items, accessory rights and Fructus etc. of the leased items). Before all payments due under this Contract are settled, Party B shall guarantee that the proprietary applications, software, licenses and technical documents of the leased items are in a valid state and that performance and configuration standards (except for normal depreciation and wear) of the leased items are not lower than the corresponding indicators when this Contract becomes effective.

Party A shall have the right to mark in a conspicuous place on the leased items that the owner of the leased items is Party A, by means including but not limited to posting signs, painting marks, as well as registration and public announcement in the Unified Registration and Public Announcement System for Movable Property Financing of the Credit Reference Center of the People's Bank. If any third party claims rights over the leased items and thus causes legal disputes, Party B shall bear relevant responsibility. If Party A suffers losses thereby, Party B shall bear the liability of compensation for Party A's reasonable direct economic loss according to law.
		
	6.2
	Unless prior written consent from Party A is obtained, Party B shall not transfer, mortgage and pledge the leased items, or use the leased items for investment in shares and compensation, or establish a lawsuit guarantee over the leased items, or in any way infringe Party A's ownership of the leased items. If it is really necessary for the leased items to be used by a third party due to the needs of production and operation, the third person shall be listed as a joint lessee.

		
	6.3
	If Party B upgrades the leased items during the lease term, Party B shall bear the cost of the upgrade. The components added to the leased items that are inseparable from the leased items or are separable, but the separation will lead to functional impairment of the leased items shall be owned by Party A free of charge. Party B shall guarantee that, before all payables are paid under this Contract, the production performance and configuration standards of the leased items (except for normal depreciation and wear) owned by Party A shall not be lower than the corresponding indicators when the Contract takes effect.

		
	6.4
	If Party B replaces the parts of the leased items with other replacement parts for maintenance, repair or its use needs during the lease period, related costs incurred from the replacement shall be borne by Party B. In addition, the replacement parts shall be owned by Party A from the date of replacement.

 8 / 30

		
	6.5
	The binding of the leased items to other movable assets and real estate will not change Party A's rights over the leased items.

		
	6.6
	Without prejudice to Party B’s possession and use of the leased items, Party A may mortgage the leased items to a third party as required. However, Party A shall notify Party B ten working days in advance. Party B is obligated to assist Party A in handling the mortgage and other related procedures. When Party A transfers the ownership of the leased items to Party B according to this Contract, Party A shall be responsible for releasing the mortgage within ten working days.

		
	6.7
	During the lease period, Party B shall not express or imply its ownership or disposition right over the leased items in any form or allow any incident that makes other people reasonably think that Party B is the owner.

		
	6.8
	Before Party B clears all the debts under this Contract, the ownership of the leased items always belongs to Party A, and anyone except Party A has no right to dispose of the leased items.

Article 7 Use, Repair and Maintenance of the Leased Items
		
	7.1
	Party B owns the right of possession and use of the leased items during the Lease Term. Except for Party B's major breach of contract, Party A shall not interfere with the legitimate and independent’s possession and use of the leased items of Party B. Otherwise, Party A shall be liable for the losses caused by Party B. If any third party claims any right to the leased items due to Party A's reasons, Party A shall bear full responsibility and Party B's rights to use shall not be affected.

		
	7.2
	Party B shall properly use and keep the leased items, repair, preserve and maintain the leased items and accessories through regular repairs and irregular inspections, and bear all expenses incurred therefrom. Any replaced, added, or updated parts, devices and services automatically become part of the leased items and are owned by Party A free of charge. All repairs and maintenance are included in the lease period. If Party B is negligent in performing its obligations of repairing and maintaining the leased items, Party A shall be entitled to recover the leased items from Party B without prejudice to any other claims that Party A may have against Party B under this Contract.

		
	7.3
	Party B shall, at the request of Party A, submit to Party A the maintenance schedule and repair records of the leased items so that Party A can keep abreast of the use conditions of the leased items. Both Parties shall jointly confirm the submission interval and specific format of the maintenance schedule and repair records within 30 working days after the signing of the Contract.

 9 / 30

		
	7.4
	Party B shall use the leased items in strict accordance with the user manual or operation manual of the leased items, shall not assign unqualified personnel to operate the leased items and shall keep the leased items continuously in a good state of operation.

		
	7.5
	Party B shall bear all responsibility for the leased items and any personal injury or property damage caused to any third party by the leased items during the period of possession and use of the leased items by Party B. Party A shall not bear any responsibility. If Party A suffers any reasonable and direct economic loss, Party B shall pay full compensation.

		
	7.6
	In the event that changes in national policies result in the forced elimination of the leased items during the lease period, Party A has the right to request Party B to provide equivalent replacement equipment approved by Party A as the leased items of the Contract. If the replacement equipment is not approved by Party A, Party A has the right to request Party B to make a one-off payment with the following amount within fifteen working days after receiving the payment notice from Party A:

		
	(1)
	Total remaining Lease Principal and interest due (according to actual use period of funds), unpaid service charges (if any) that have expired and overdue interest (if any);

		
	(2)
	The Purchase Price and other payments (if any) that the Lessee shall make to the Lessor when the lease term expires;

		
	(3)
	Other payables related to this Contract (including but not limited to litigation fees, arbitration fees, property preservation fees, preservation guarantee fees, travel expenses, implementation fees, assessment fees, auction fees, notary fees, delivery fees, announcement fees and attorney fees, etc.) (if any).

		
	7.7
	During the lease period, Party A shall have the right to inspect the use and maintenance conditions of the leased items at any time during normal working hours without affecting the normal use of the leased items by Party B upon written notice (including email) provided ten working days in advance. Party B shall provide necessary conveniences for the inspections and cooperate with Party A for the inspection of the leased items.

		
	7.8
	During the lease period, Party B shall bear related expenses and losses arising from removal of the leased items from the bonded area.

Article 8 Loss and Damage of the Leased Items

 10 / 30

		
	8.1
	Party B shall bear all risks of loss or damage to the leased items. In the event of such damage or loss, Party B’s payment obligations for rents and other payables and other obligations under this Contract are not affected.

		
	8.2
	If any damage or loss of the leased items for a single time exceeds 5% of the Lease Funds of the Contract for any reason during the lease term, but the damage or loss does not constitute total loss or constructive total loss, Party B shall promptly notify Party A and shall repair the leased items to the state of normal operation at its own expense. The repair period is included in the lease term. Therefore, Party B shall pay the rent as agreed in this Contract. Party B shall bear all risks of loss or damage to the leased items, including but not limited to risks within the insurance scope or other uninsured risks. In the event of such damage or loss, Party B’s payment obligations for rents and other payables and other obligations under this Contract are not affected.

		
	8.3
	If the leased items have actually been fully lost or if constructive total loss is formed based on reasonable judgment during the lease term, Party B is required to make a one-off payment with the following amount within five working days after receiving the payment notice from Party A. After Party B pays Party A all the following amounts, Party B's obligations under this Contract are automatically discharged and all the benefits of the leased items, including those under the insurance contract, are owned by Party B.

		
	(1)
	Total remaining Lease Principal and interest due (according to actual use period of funds), unpaid service charges (if any) that have expired, liquidated damages (due to Party B's fault) and overdue interest (if any);

		
	(2)
	The Purchase Price and other payments (if any) that the Lessee shall make to the Lessor when the lease term expires;

		
	(3)
	Other payables related to this Contract (including but not limited to litigation fees, arbitration fees, property preservation fees, preservation guarantee fees, travel expenses, implementation fees, assessment fees, auction fees, notary fees, delivery fees, announcement fees and attorney fees, etc.) (if any).

Article 9 Contract Term and Lease Commencement Date
		
	9.1
	Contract Term: The term of this Contract shall be valid from the effective date of the Contract to Party A's receipt of all rents and other payables paid by Party B under this Contract. If Party B chooses to purchase the leased items after the lease term expires, the term of this Contract shall expire on the date that Party B fully pays the Purchase Price of the leased items to Party A and completes the registration of ownership change of the leased items (if any).

 11 / 30

		
	9.2
	Lease Commencement Date: The Lease Commencement Date of the Contract is the date on which Party A pays Party B the down payment of the Lease Funds.

Article 10 Rent
		
	a)
	

		
	10.1
	Rent and Payment

		
	10.1.1
	Party B shall deliver the one-off Down Payment of Rent to Party A or a third party designated by Party A in accordance with the time stipulated in Part 1 Commercial Terms. Party B shall remit rents to Party A's account on or before the date of payment on the basis of the time and amount stipulated in Annex II Rent Payment Estimates. If the Rent Payment Estimates is inconsistent with the Actual Rent Payment Table, the Actual Rent Payment Table shall prevail.

10.2 Rent Calculation and Reasonable Change
		
	10.2.1
	The rents consist of the Lease Costs and the lease interest. The Lessor will charge the rents based on the total Lease Costs from the Lease Commencement Date. The Lease Interest Rate will be determined in accordance with the following B way:

		
	A.
	The fixed interest rate remains unchanged during the lease term and will not be adjusted with the changes of the benchmark interest rates for loan of the People's Bank of China for the same period.

		
	B.
	The floating interest rate will be adjusted in proportion to the benchmark interest rates for loan of the People's Bank of China for the same period.

If a floating interest rate is adopted, Party A shall make a corresponding adjustment to the rent in Annex III Actual Rent Payment Table within ten working days after the People’s Bank of China announces the adjustment of the loan interest rate for the same period. In case of interest rate adjustment, the Lease Interest Rate shall be adjusted on the next interest adjustment date after the date of interest rate adjustment (the dates of interest adjustment are March 21, June 21, September 21 and December 21 of each year), and the previous rents remain unchanged. Party A informs Party B with Annex IV Rent Adjustment Notice and Party B agrees to this change. The Rent Adjustment Notice is an integral part of this Contract. The actual rent adjustment date shall be subject to the Rent Adjustment Notice issued by Party B in accordance with the format of Annex IV.
		
	10.2.2
	With respect to the rents overdue by Party B, adjustments shall be made based on the new interest rates in case of raised interest rates or according to the original interest rates in case of lowered interest rates, regardless of any type of interest rate (fixed interest rate or floating interest rate) selected.

 12 / 30

		
	10.2.3
	Party B's obligation to pay rents under this Contract is absolute and unconditional, and is not affected or deducted for any reason, including but not limited to the quality defects of the leased items, unusable leased items, and loss or damage of the leased items.

Article 11 Lease Service Charges, Security Deposit and Other Expenses 

		
	11.1
	Lease service charges: After Party A collects the lease service charges from Party B, the lease service charges will not be refunded unless the Contract is cancelled due to Party A's fault.

		
	11.2
	Lease Security Deposit

		
	11.2.1
	In order to ensure that the rent is paid in full and on time and other obligations are performed under this Contract, Party B shall deposit the lease security deposit into the bank account designated by Party A within seven working days after signing of this Contract in accordance with Part 1 Commercial Terms of this Contract. 

		
	11.2.2
	Party A will refund the full amount of the lease security deposit to Party B within seven working days after Party B make all the payments in accordance with this Contract. When Party A refunds the lease security deposit, only the principal will be refunded and no interest will accrue.

		
	11.2.3
	Within ten working days after Party A’s written notification, if Party B fails to perform its payment obligations under this Contract, Party A is entitled to use the lease security deposit to offset the amounts that Party B shall pay to Party A in accordance with the order of other payables, overdue interest, liquidated damages, rents payable, service charges and Purchase Price. After the above offset, Party B shall promptly make up the lease security deposit according to Party A's notice. If Party B fails to do so, Party A is entitled to make up for the lease security deposit with the rents subsequently paid by Party B.

		
	11.3 
	Other fees that Party B shall pay to Party A: None.

 
Article 12 Insurance of the Leased Items

		
	12.1
	During the lease period, if Party A has corresponding requirements, Party B shall insure the leased items for Party A as the insured and the beneficiary with the full amount of property insurance and its additional insurance accepted by Party A, and make them valid for the duration of the Contract (if the leased items can only be insured in phases in accordance with relevant regulations of the insurance industry, Party B shall complete the renewal of the insurance 10 working days before expiration of the insurance period). In addition, the insurance amount shall cover the principal and 

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interest of the lease, and the insurance premium shall be borne by Party B. Party B shall provide Party A with insurance payment documents and vouchers at the request of Party A.
		
	12.2
	If Party B fails to insure the leased items or renew the insurance on time according to Party A's request, Party A shall have the right to insure the leased items or renew the insurance on behalf of Party B. Party B shall bear the costs incurred. If Party A pays for the insurance fees, Party A shall have the right to seek repayment from Party B and collect interest at the rate of 0.0005 of the amount from the date of Party A’s advance payment to the date of repayment by Party B. If Party B fails to promptly repay Party A's advance payment within ten working days after Party A's written notification in accordance with this Contract, Party A shall be entitled to deduct it from the lease deposit. In the process of insuring the leased items, Party B shall truthfully inform the insurance company in writing of the financing lease relationship between Party A and Party B and the fact that Party A is the sole owner of the leased items.

		
	12.3
	If Party B insures the leased items according to the requirements of Party A under this Contract, the original insurance copy of the policy shall be handed over by Party B to Party A for keeping. After the original insurance policy is submitted to Party A, Party B and the insurance company shall not change the insurance terms without Party A’s prior written consent.

		
	12.4
	After the occurrence of any insurance accident, Party B must immediately notify Party A and the insurance company to handle loss assessment and damage claim. Party B shall provide all necessary documents and take all necessary measures so that Party A can receive insurance compensation. If Party B fails to cooperate with Party A to handle the damage claim and causes Party A’s failure to obtain compensation from the insurance company, Party B shall bear reasonable direct economic losses.

		
	12.5
	After the occurrence of any insured accident, Party B shall take reasonable measures to reduce the loss or avoid further loss. If Party B fails to promptly notify Party A or fails to take reasonable remedial measures, Party B shall bear corresponding responsibilities and compensate Party A for reasonable direct economic losses suffered thereby.

		
	12.6
	(12.7)Party B shall ensure that the insurance coverage and amount are sufficient to cause the actual amount paid by the insurance company to be not less than the total amount of all payments payable by Party B under this Contract (including all remaining interest of the Lease Principal and service charges) in the event that the entire leased items suffer total loss or constructive total loss.

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	12.7
	(12.8)When any insured accident occurs, all insurance compensation shall be paid to Party A and handled in the following manner:

		
	(1)
	If the accident does not constitute a total loss of the leased items and Party B does not default on rent or other payables, the insurance compensation shall be used to compensate Party B for the expenses incurred in repairing the leased items under Article 8; if Party B has arrears of rent or other payables, the insurance compensation shall be used to offset the payment that Party B shall pay to Party A. If Party A’s insurance compensation is insufficient to pay the aforesaid amounts, Party B still has the obligation to make up for the insufficiency of Party A, including but not limited to the compensation that the insurance company refuses to pay or insufficiency of compensation. In case of any surplus after the offset, the remaining portion shall be paid to Party B.

		
	(2)
	If the accident constitutes a total loss of the leased items, the insurance compensation shall be used to offset the payment of Party A payable by Party B under Article 8.3. If Party A’s insurance compensation is insufficient to pay the aforesaid amount, Party B still has the obligation to make up for the insufficiency of Party A, including but not limited to the compensation that the insurance company refuses to pay or insufficiency of compensation. In case of any surplus after the offset, the remaining portion shall be paid to Party B.

		
	12.8
	(12.9)The risk of damage or loss of the leased items shall be borne by Party B. The occurrence of an insurance accident and whether the insurance compensation is paid will not constitute a reason for Party B to delay any payment or reduce any payment under this Contract. Party B shall still perform the obligation of paying rents and other payables in accordance with the provisions of this Contract after the occurrence of any insurance accident.

Article 13 Representations and Warranties
		
	13.1
	Representations and Warranties of Party A

		
	13.1.1
	Party A is a professional financing lease company that has been established in accordance with relevant laws and regulations of China and has been validly subsisting, has qualifications for engaging in financing lease business, and has the qualification and ability to sign and execute this Contract;

		
	13.1.2
	The financing lease business stipulated in this Contract does not exceed the business scope of Party A's articles of association and business license, and complies with relevant national policies and industry regulations;

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	13.1.3
	Party A has taken all necessary internal measures for the performance of this Contract and has obtained all the necessary rights and approvals required for the signing and performance of the Contract. The representative who has signed this Contract has obtained legal authorization.

		
	13.1.4
	Party A carefully read all the terms of this Contract, has fully understood the meaning of each clause, and signed this Contract is the expression of its true meaning;

		
	13.1.5
	In terms of exempting or restricting its own responsibilities in the Contract, Party A has taken reasonable steps to bring it to the attention of Party B and explained the terms to Party B.

		
	13.2
	Representations and Warranties of Party B

		
	13.2.1
	Party B is a legal person/other organization legally established and validly existing in accordance with relevant laws and regulations of China. It has the necessary civil capacity and performance capacity to sign and perform this Contract, and can independently bear civil liabilities;

		
	13.2.2
	Party B has taken all necessary internal measures and has obtained all the necessary rights and approvals for signing and performance of this Contract. Their authorized representatives who sign this Contract have obtained legal authorization;

		
	13.2.3
	Before this transfer, Party B owns legal, complete and valid ownership of the leased items, and has the right to transfer the leased items to Party A according to the Contract; Party B guarantees that the leased items are not being seized or detained by judicial or administrative authorities during the transfer. The leased items or any part of them have not been transferred to any third party in any way and are not bound by third-party rights (including but not limited to ownership, security interest and usufructuary right, etc.); any contract, rights, and obligations between Party B and other third parties do not affect the performance effectiveness of this Contract. If any third party claims rights to the leased items and thereby causes legal disputes, Party B shall bear relevant responsibilities. If Party A suffers losses arising therefrom, Party B shall bear corresponding liability;

		
	13.2.4
	Party B's signing and performance of this Contract will not violate any laws, regulations, articles of association or any contract or agreement with any third party;

		
	13.2.5
	Before the signing of the Contract, Party B guarantees to provide Party A with true and accurate financial statements and asset lists, and guarantees to fully disclose to Party A the circumstances that involve its assets or rights and may affect the performance of the Contract including mortgage, pledge, litigation, arbitration and administrative penalty;

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	13.2.6
	Within the validity period of this Contract, Party B shall submit a set of originals of the following statements and reports to Party A within 15 working days after completing them:    

		
	(1)
	Annual financial statements;

		
	(2)
	Half-year financial statements;

		
	(3)
	Quarterly financial statements;

		
	(4)
	The year-end audit report issued by the accounting firm.

		
	13.2.7
	Before completion of all the obligations of this Contract, Party B shall obtain Party A's written consent in advance if Party B intends to carry out asset reorganization, equity acquisition, asset transfer and other activities that may affect realization of Party A’s rights and interests;

		
	13.2.8
	Party B guarantees that if it involves any major breach of contract, litigation, arbitration, administrative punishment, restrictive measures such as seizure, detention or freezing of assets, it shall notify Party A in writing within three working days from the date of occurrence of such events, and shall take corresponding measures to prevent such events from causing adverse effects on Party A's rights and interests;

		
	13.2.9
	Party B shall ensure that the leased items are used only for legitimate and rightful commercial purposes and may not be used for any illegal purpose.

Article 14 Prepayment

		
	14.1
	During the lease period, Party B may partially or fully repay the loan in advance if Party A agrees in writing and Party B meets the following conditions:

		
	(1)
	Party B submits a written application to Party A 60 days in advance;

		
	(2)
	All service charges due have been paid;

		
	(3)
	All rents due have been paid;

		
	(4)
	The Lease Principal not yet due has been paid (applicable to all repayments in advance);

		
	(5)
	Other payables have been paid.

		
	14.2
	Party B may, within five days after Party A agrees, pay Party A a lump sum of all remaining Lease Principal, interest at maturity (calculated according to the actual life of the funds), due service charges, overdue interest (if any), and liquidated damages (if any) and other payables (including but not limited to litigation fees, arbitration fees, property preservation fees, preservation guarantee fees, travel expenses, implementation fees, assessment fees, auction fees, notary fees, delivery fees, 

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announcement fees and attorney fees, etc.). Party B shall pay Party A the remaining Purchase Price and other payables. After receiving such payments, Party A will cooperate with Party B in handling the ownership transfer procedures for the leased items, including but not limited to issuance of the Certificate of Ownership Transfer II (Lessor to Lessee) to Party B in accordance with the format of Annex VIII. Taxes and fees (if any) arising from the transfer of ownership of the leased items shall be borne by Party B.
		
	14.3
	If Party B makes part of the repayments in advance according to the provisions of this Article, this Contract will continue to be valid. Party A shall re-adjust the rent payment form for the outstanding principal in accordance with the Rent Adjustment Notice attached to Annex IV of this Contract and inform Party B in writing. Party B hereby confirms that Party A's above adjustments are binding on it and undertakes to pay rents to Party A according to the adjusted rent payment form. Party B confirms that its early repayments will not affect Party A's full ownership of the leased items.

Article 15 Breach of Contract and Remedy
		
	15.1
	Party A's Liability for Breach of Contract

Party B owns the right of possession and use of the leased items during the lease term. Except for Party B's major breach of contract, Party A shall not interfere with the legitimate and independent’s possession and use of the leased items of Party B. Otherwise, Party A shall be liable for the losses caused to Party B.
		
	15.2
	Party B's Liability for Breach of Contract

		
	15.2.1
	The occurrence of any of the following circumstances during the lease period shall be deemed as Party B's breach of contract:

		
	(1)
	Party B fails to pay rents and/or other payables in accordance with the time and amount stipulated in this Contract;

		
	(2)
	Party B violates the representations and warranties made in this Contract;

		
	(3)
	Party B violates other terms of this Contract, including but not limited to failure to provide guarantees in accordance with this Contract and to complete the required registration formalities;

		
	(4)
	Party B fails to insure the leased items in accordance with this Contract and fails to perform the obligation of proper use and maintenance of the leased items, etc.;

		
	(5)
	Party B has overdue payment or breach of contract in other contracts signed with Party A or other circumstances that affect Party B's performance of this Contract;

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	15.2.2
	In the event of Party B’s breach of Article 15.2.1, Party A has the right to take one or more of the following measures if Party B fails to make any correction within 10 working days upon Party A’s written notice:

		
	(1)
	Require Party B to pay overdue interest. If Party B fails to pay rents and/or other payables on schedule, Party A shall have the right to request Party B to pay overdue interest from the date of payment of the rents or other payables to the date of actual payment. Overdue interest is calculated at 0.0005 of the amount payable per day until the full payment date. The overdue amounts shall be paid out by Party B in the following order: other payables, overdue interest, liquidated damages, rents payable, service charges and Purchase Price;

		
	(2)
	Take other remedies permitted by law.

		
	15.2.3
	Where Party B has any behavior indicated in Paragraph (1), (2), (3) and (5) of Article 15.2.1, violates Article 13.2 Representations and Warranties (except for Article 13.2.6), and makes no correction within fifteen working days after written notice of Party A, it constitutes a major breach of contract. Party A has the right to take one or more of the following measures:

		
	(1)
	Require Party B to pay overdue interest. If Party B fails to pay rents and/or other payables on schedule, Party A shall have the right to request Party B to pay overdue interest from the date of payment of the rents or other payables to the date of actual payment. Overdue interest is calculated at 0.0005 of the amount payable per day until the full payment date. The overdue amounts shall be paid out by Party B in the following order: other payables, overdue interest (if any), liquidated damages (if any), rents payable, service charges and Purchase Price;

		
	(2)
	Require early expiry of rents and request Party B to immediately pay all remaining rents, service charges, overdue interest, liquidated damages, Purchase Price and other payables (including but not limited to litigation fees, arbitration fees, property preservation fees, preservation guarantee fees, travel expenses, implementation fees, assessment fees, auction fees, notary fees, delivery fees, announcement fees and attorney fees, etc.);

		
	(3)
	Terminate the Contract, directly recover the leased items without judicial procedure and require Party B to compensate Party A for all losses. Party A’s losses include but are not limited to Party A’s costs for recovering the leased items, costs of realizing the leased items and the insufficient part after repayment of all rents, service charges, overdue interest (if any), Purchase Price, liquidated damages (if any) and all other payables (including but not limited to litigation fees, arbitration fees, property preservation fees, preservation guarantee fees, travel expenses, implementation fees, assessment fees, auction fees, notary fees, delivery fees, announcement fees and attorney fees, etc.) with the proceeds of realization of the leased items;

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	(4)
	Take measures to prevent the leased items from malfunction;

		
	(5)
	Take other remedies permitted by law;

		
	(6)
	Party A agrees to negotiate with Party B on relevant payment amounts before adopting the measures in Item (2) of this Article. If they reach a new agreement, they may implement the measures according to the new agreement.

		
	15.2.4
	If Party A chooses to rescind the Contract and retrieves the leased items, Party A may request Party B to send the leased items in good condition to Party A at the time and place indicated by Party A, or Party A appoints personnel to directly enter the place of the leased items to immediately occupy and transfer them. Party B shall bear the resulting costs and reasonable direct economic losses caused to Party B or any third party arising from the transfer or recovery of the leased items.

		
	15.2.5
	After the leased items is retrieved, Party A can directly dispose of the leased items, select any appraisal agency at its own discretion to appraise the leased items, and take the appraised price as the price basis for disposal of the leased items; or directly sell the leased items according to the state of the leased items at the time of recovery. The sales target is any legal person or natural person who needs the leased items. The sales income is the value of the leased items. Party B agrees and confirms Party A's above-mentioned disposal method for the leased items and criteria for determining the value of the leased items.

		
	15.2.6
	For the proceeds from disposal of the leased items, Party A has the right to make deductions with the proceeds from disposal of the leased items in the following order:

		
	(1)
	All costs and expenses (including but not limited to litigation fees, arbitration fees, property preservation fees, preservation guarantee fees, travel expenses, implementation fees, assessment fees, auction fees, notary fees, delivery fees, announcement fees and attorney fees, etc.) incurred by Party A for repossession, transfer, safekeeping, repair or disposal of the leased items or execution of this Contract. 

		
	(2)
	Any other payables to be paid by Party B to Party A pursuant to this Contract;

		
	(3)
	Overdue interest, default penalty and service charges that Party B shall pay to Party A in accordance with this Contract and any loss incurred by Party A;

		
	(4)
	The total remaining rents that Party B shall pay to Party A according to this Contract;

If the proceeds are not sufficient to cover the above-mentioned payments that Party B shall pay to Party A, Party A shall have the right to claim the insufficient part from Party B; if the proceeds exceed the above-mentioned payments, Party A shall return the excess amount to Party B.

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	15.2.7
	If Party A decides not to dispose of the leased items after retrieving them, or needs to determine the value of the leased items in any case, the value of the leased items shall be determined by Party A at its discretion in any of the following ways. Party B has no objection.

		
	(1)
	The appraisal agency entrusted by Party A appraises and determines the value. Relevant expenses thereby incurred shall be borne by Party B;

		
	(2)
	The Party A determines the value through other methods as chosen by Party A.

		
	15.2.8
	If the appraisal agency entrusted by Party A appraises and determines the value, relevant expenses thereby incurred shall be borne by Party B; if Party B does not approve the appraisal results of the appraisal agency entrusted by Party A, Party B may propose to conduct an additional appraisal of the value of the leased items or require the auction of the leased items. Relevant costs shall be borne by Party B. In the event that the judicial organ entrusts any appraisal agency to appraise or auction the leased items additionally according to the request of Party B, and the value of the leased items determined by the appraisal or auction is higher than that determined by Party A through the way it selects according to the above-mentioned provisions in this Paragraph, Party B shall, within 30 days from the date of determination of the value of the leased items through additional appraisal or the auction procedure, find out a third party to purchase the leased items from Party A at a price not lower than the value of the leased items determined by the additional appraisal or auction procedure and to pay for the purchase price in full. Otherwise, the value determined by Party A shall prevail. For the avoidance of ambiguity, if the buyer of the leased items is determined through an auction procedure or other means, the purchase price paid by the buyer shall be owned by Party A. Party A shall use it to deduct the amounts owed by Party B under this Contract. 

		
	15.2.9
	Party A's adoption of any of the above measures shall not affect Party A's other rights under this Contract. Before Party A takes any of the above measures and obtains full compensation, Party B will not be released from continuing to perform its obligations under this Contract.

		
	15.2.10
	If Party A finds that Party B’s operating conditions deteriorate seriously, or Party B transfers assets to evade repayment of debts, surreptitiously withdraws funds, or commits fraudulent acts in the performance of this Contract, or has any other circumstances in which Party A believes that Party B has lost or may lose its ability to perform the Contract, Party B may immediately notify Party B and request Party B to provide a guarantee approved by Party A within a reasonable period of time. Where Party B fails to do so within the time required by Party A, Party A can adopt the measures agreed in Article 15.2.2.

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	15.2.11
	Party A’s adoption of the aforesaid measures does not therefore exempt Party B from its obligations under this Contract. At the same time, Party B shall bear the expenses incurred by Party A in taking such measures, including but not limited to litigation fees, arbitration fees, property preservation fees, preservation guarantee fees, travel expenses, implementation fees, assessment fees, auction fees, notary fees, delivery fees, announcement fees and attorney fees, etc.

		
	15.2.12
	If Party A pays the fees that Party B shall pay under this Contract on behalf of Party B, including but not limited to the taxes and fees related to the leased items, Party B shall reimburse Party A for the fees paid in advance by Party A and shall pay Party A the interest of such fees at the rate of 0.0005 per day from the date of advance payment made by Party A to the date of repayment made by Party B.

Article 16 Transfer of Contract Rights and Obligations

		
	16.1
	Without prejudice to Party B’s possession and use of the leased items, Party A has the right to transfer all or part of the rights and obligations under this Contract to a third party and has the right to pledge all or part of the rights granted to Party A under this Contract to a third party, or to mortgage the leased items to a third party. Party A's above transfer/pledge/mortgage does not affect Party B's performance of its obligations under this Contract. Once Party A's above transfer/pledge/mortgage occurs, Party B shall promptly notify Party B in writing. Party B hereby confirms that it agrees with Party A’s above transfer/pledge/mortgage and will actively cooperate with Party A’s implementation of the above transfer/pledge/mortgage.

		
	16.2
	Without Party A's prior written consent, Party B shall not transfer any of the rights and obligations under this Contract.

Article 17 Handling of Significant Changes 

		
	17.1
	Party B shall notify Party A immediately if any of the following circumstances occurs. Party A is entitled to request Party B to provide a valid guarantee approved by Party A to ensure Party B's performance of its obligations under this Contract. If Party B fails to provide a valid guarantee approved by Party A, Party A may adopt the remedies agreed in Article 15 of this Contract:

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	(1)
	Party B experiences closure, suspension of business, production suspension, merger, division, bankruptcy and major legal disputes, etc., or deterioration of business conditions;

		
	(2)
	Party B conducts asset reorganization, equity acquisition or transfer/pledge of some or all assets/rights, which may affect the normal performance of this Contract;

		
	(3)
	Party B makes major adjustments to production plans and sales plans, etc. which are sufficient to affect normal production and may affect Party B’s ability to perform this Contract;

		
	(4)
	Except for Party A's reasons, the leased items are frozen, detained, executed, seized or have other conditions affecting their normal operation;

		
	(5)
	Other major events that may affect the normal performance of the contractual debts;

		
	(6)
	Party B's failure to notify Party A in accordance with this Article does not affect Party A's immediate adoption of the remedies agreed in Article 15 of this Contract after it learns the circumstance on its own. However, Party B shall be liable for all losses caused to Party A due to time delay. 

		
	17.2
	Changes in Party B’s legal address and legal representative etc. shall not affect the execution of this Contract, but Party B shall promptly notify Party A in writing.

		
	17.3
	If any of the following circumstances occurs when Party B uses the leased items or any project invested with the leased item has any of the following circumstances, Party B shall immediately terminate the use of the leased items, notify Party A of the situation in writing and correct it completely within the reasonable period required by Party A:

		
	(1)
	Any project invested with the leased items violates the national industrial policy;

		
	(2)
	The project invested with the leased items fails to obtain the approval procedures and documents approved by Party A;

		
	(3)
	There are other situations in which the use of the leased items is in violation of the mandatory or restrictive provisions of the law;

		
	(4)
	If Party B fails to completely correct the above circumstances within a reasonable period of time agreed by both Parties, Party A shall have the right to unilaterally terminate this Contract, recover the leased items, and request Party B to pay all the remaining rents, service charges, overdue interest (if any), liquidated damages (if any), Purchase Price, other payables (including but not limited to litigation fees, arbitration fees, property preservation fees, preservation guarantee fees, travel expenses, implementation fees, assessment fees, auction fees, notary fees, delivery fees, announcement fees and attorney fees, etc.) within five days after receiving Party A's written notice, and to make full compensation for all reasonable direct economic losses.

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	17.4
	If the leased items are expropriated or required by a government department or damaged or lost due to a third party, the rent payment and other obligations of Party B under this Contract shall not be affected. When any of such circumstances occurs, Party A is entitled to terminate this Contract in advance and use the compensation obtained to offset all the remaining rents, service charges, overdue interest, liquidated damages, Purchase Price and other fees payable by Party B under this Contract. If the compensation received is not sufficient to make up for the aforementioned amounts payable by Party B, Party B shall be responsible for the insufficient part.

Article 18 Disposal of the Leased Items after Expiry of the Lease Term
		
	18.1
	After the lease term expires and Party B completes repayment of all the rents and other payables that it shall pay to Party A under this Contract, both Parties will handle the leased items in the following (1) manner:

		
	(1)
	Party B shall purchase the leased items according to the Purchase Price stipulated in the “present status quo” and Commercial Terms and obtain the ownership of the leased items. As Party B has always occupied and used the leased items, Party A will make no statement or guarantee on the then-current performance and status of the leased items.

If Party B intends to purchase the leased items, Party A shall cooperate with Party B in processing the procedures of ownership transfer of the leased items, including but not limited to issuing a certificate of ownership transfer of the leased items to Party B, and releasing all the guarantee rights (if any) set up over the leased items for the Financing Lease agreed in the Contract within 20 working days etc. Relevant taxes and fees arising from the transfer of ownership of the leased items shall be borne by Party B (if any).
		
	(2)
	Renewal of lease: Party B may continue to rent the leased items. The parties shall negotiate the lease renewal issue and sign a written agreement.

		
	(3)
	Return of the leased items: Party B returns the leased items to Party A within 10 days after the expiry of the Contract and guarantees that the leased items are intact (except for normal wear and tear).

Article 19 Security

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	19.1
	Party B shall implement the security contract entered into by and between relevant guarantee obligor and Party A in accordance with the Security Methods stipulated in this Contract, which at the same time shall be taken as the entry-into-force condition for this Contract.

		
	19.2
	Where the financial status of the guarantee obligor significantly deteriorates, or the value of the guarantee/pledge may be derogated or lost, Party B shall provide other guarantee measures approved by Party A separately.

Article 20 Force Majeure
		
	20.1
	“Force majeure” refers to the incidents which are beyond the control scope of the Parties to this Contract, unforeseeable, unavoidable or insurmountable, or render either party hereunder partially or wholly unable to perform this Contract. Such incidents include but are not limited to earthquakes, typhoons, floods, fires, wars, strikes, riots, government actions, legal provisions or their applicable changes.

		
	20.2
	When force majeure occurs, the party affected by force majeure shall promptly notify the other party in writing and take remedial measures to reduce losses.

		
	20.3
	The party affected by force majeure shall provide the other party with details of the force majeure, the report of losses and relevant supporting documents within seven days from the occurrence of force majeure.

		
	20.4
	If a party affected by force majeure fails to perform or delay performance of its obligations under this Contract due to force majeure, it may be exempted from liability in part or in whole within the influence scope of force majeure. However, force majeure shall not relieve the affected party of its obligations in accordance with this Contract prior to the occurrence of such events.

		
	20.5
	After the force majeure is over or the influence is eliminated, the party affected by force majeure shall notify the other party immediately. The parties shall continue to perform their contractual obligations after the force majeure is over or the influence is eliminated. At the same time, the duration of the Contract shall be extended accordingly.

		
	20.6
	If the influence of force majeure persists for more than 30 days, resulting in failure of either party to continue to perform the contractual obligations, either party has the right to notify the other party in writing to terminate the Contract.

Article 21 Information Disclosure
		
	21.1
	Party B agrees that Party A has the right to exercise the following actions:

		
	(1)
	Party A announces Party B's performance of this Contract on Party A's own website;

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	(2)
	Party B authorizes Party A to obtain the credit information of Party B and its legal representatives, actual controllers, shareholders, financial controllers and other credit information of the company or individuals from the Basic Database of Financial Credit Information of the People's Bank of China and other credit investigation agencies or databases, to report the Party B’s credit condition of the performance of this Contract to the above-mentioned organizations, and to complete public announcement and registration of the leased items on the financing lease system of the People's Bank;

		
	(3)
	In the event that Party B has overdue payments under the Contract and fails to make any correction within 15 days after Party A’s written reminder, Party A has the right to disclose Party B’s breaches in the Basic Database of Financial Credit Information of the People's Bank of China and other credit investigation agencies.

		
	21.2
	Party A agrees that Party B has the right to exercise the following actions:

Party B and its shareholders are entitled to publicly disclose the contents of this Contract, its supplementary agreements and related materials in accordance with relevant applicable laws, regulations as well as rules and management requirements of stock exchanges.

Article 22 Governing Law and Dispute Resolution
		
	22.1
	This Contract and its performance are governed by the laws of the People's Republic of China and interpreted in accordance with the laws of the People's Republic of China.

		
	22.2
	Any dispute arising from this Contract or related to this Contract shall be settled by the Parties through friendly negotiation. If the negotiation fails, the Parties agree to adopt the following (2) way for resolution:

		
	(1)
	Apply to the  / Arbitration Committee for arbitration;

		
	(2)
	File a lawsuit with the local people's court of Party A.

Article 23 Change, Termination and Rescission of the Contract
		
	23.1
	Any amendment, addition or change to this Contract shall be made in writing separately and shall take effect after the legal representatives of Party A and Party B or their authorized agents sign/sign and seal it. The aforementioned amendment, addition or change shall be deemed as an integral part of this Contract.

		
	23.2
	Except as otherwise provided in this Contract, neither party shall rescind or early terminate this Contract without the consent of both Parties.

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Article 24 Annexes to the Contract
The annexes to this Contract is an integral part of this Contract and have the same legal effect as this Contract.
Annex I: List of Leasing Items
Annex II: Rent Payment Estimates
Annex III: Actual Rent Payment Table
Annex IV: Rent Adjustment Notice
Annex V: Rent Payment Notice
Annex VI: Notice of Top-Up of the Lease Security Deposit
Annex VII: Certificate of Ownership Transfer I (Lessee to Lessor)
Annex VIII: Certificate of Ownership Transfer II (Lessor to Lessee)
Annex IX: Proof of Receipt of the Leased Items
Annex X: Other Annexes Approved by the Parties

Article 25 Effectiveness of the Contract
		
	25.1
	This Contract shall take effect on the date on which the legal representatives of both Parties or their authorized representatives sign/sign and seal it or affix the official seal to it.

Article 26 Notice and Delivery
		
	26.1
	Any notice given by either party to the other party in relation to this Contract must be in writing. If the notice is delivered by hand, it will be deemed to be served after the addressee signs for receipt. If it is sent by e-mail or fax, it will be deemed to be served at the time of sending; if it is served by post, it will be deemed to be served after the other party signs for receipt or refuses to sign for receipt. If the address or name is incorrect or the other party is not notified in writing for any change, the date of indicating the cause for failure to deliver the mail shall be deemed that the notice has been served. Unless otherwise notified in writing, the Parties shall confirm the addresses for communication services (see Part 1 Commercial Terms);

		
	26.2
	Both Parties confirm that the above-mentioned domiciles of both Parties contained in this Contract is their addresses for delivery of their legal documents. A written document sent by one party to the other party to the address of the Contract (regardless of whether or not the mail is rejected or returned for any reason) will be deemed served on the third day after mailing. In case of any change in the address of either party, the party shall notify the other party in writing of the address change issue and the new address of service on the day of the change of the address. Before either party delivers 

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the notice of change of service address to the other party, the written notice sent by the other party to the original address of service of such party shall be still deemed to be validly served.

Article 27 Special Terms
If the contents agreed in the special terms of this Article conflict with the contents of other terms of this Contract, the special terms shall prevail:
		
	(1)
	Party A shall notify Party B immediately in writing if it confronts any difficulty in raising funds which cannot be predicted. Both Parties shall, based on changes in specific circumstances, jointly confirm the adjustment plan of the mode and timing of the funds release, or confirm the suspension and termination of release of the Lease Funds, and guarantee that Parties will not raise any right claim in this condition.

		
	(2)
	If Party B fails to provide Party A with a written proof of receipt of the increased capital of US$25 million from Alpha and Omega Semiconductor Limited,  Party B’s shareholder, within three months from the date of full payment of Party A's Lease Funds, Party A has the right to request early termination of the Contract and require Party B to make an one-off payment to Party A for the remaining Lease Principal, Interest Due, due service charges, Overdue Interest (if any), liquidated damages (the amount of liquidated damage is 5% of the Purchase Price of the leased items paid by Party A), other payables (if any, including but not limited to litigation fees, arbitration fees, property preservation fees, preservation guarantee fees, travel expenses, implementation fees, assessment fees, auction fees, notary fees, delivery fees, announcement fees and attorney fees, etc.). The security deposits and service charges already paid by Party B will not be refunded. In case of any other loss caused by Party A, Party B shall also bear corresponding liability for compensation.

The Parties confirm hereby that they carefully read all the terms of this Contract, fully understand the meaning of each term, and signing of this Contract and the annexes is presentation of their true meaning. The Parties accept the terms of exemption or limitation of the other party’s liabilities in this Contract. The Parties have taken reasonable steps to draw the other party’s attention and explain such terms.

 (No text below)

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Party A (Seal): Chongqing Yinhai Financing Lease Co., Ltd.
Legal Representative or Authorized Representative (Signature/Signature and Seal):
 
By: /s/ Xianwei Pang   

Party B (Seal): Chongqing Alpha and Omega Semiconductor Limited
Legal Representative or Authorized Representative (Signature/Signature and Seal):

By: Mike F. Chang

Date: May 9, 2018

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Annex I: List of Leased Items

[***]

*** CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION

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Annex 2 : Schedule of Estimated Rent Payments

  1. Lease Term 
    Tenancy Term is 60 months, for total 20 payment periods, effective from April 10, 2018. 
Currency: RMB   Unit:Yuan
	
						
	Period #
	Due Date
	Principal to be Paid
	Interests to be Paid
	Total Payment
	Note

	0
	2018/4/10
	75,000,000.00
	0.00
	75,000,000.00
	 

	1
	2018/6/21
	0.00
	4,560,000.00
	4,560,000.00
	 

	2
	2018/9/21
	0.00
	5,826,666.67
	5,826,666.67
	 

	3
	2018/12/21
	0.00
	5,763,333.33
	5,763,333.33
	 

	4
	2019/3/21
	12,000,000.00
	5,700,000.00
	17,700,000.00
	 

	5
	2019/6/21
	12,000,000.00
	5,651,866.67
	17,651,866.67
	 

	6
	2019/9/21
	12,000,000.00
	5,477,066.67
	17,477,066.67
	 

	7
	2019/12/21
	12,000,000.00
	5,244,633.33
	17,244,633.33
	 

	8
	2020/3/21
	27,000,000.00
	5,071,733.33
	32,071,733.33
	 

	9
	2020/6/21
	27,000,000.00
	4,734,166.67
	31,734,166.67
	 

	10
	2020/9/21
	27,000,000.00
	4,340,866.67
	31,340,866.67
	 

	11
	2020/12/21
	27,000,000.00
	3,904,658.33
	30,904,658.33
	 

	12
	2021/3/21
	27,000,000.00
	3,477,000.00
	30,477,000.00
	 

	13
	2021/6/21
	27,000,000.00
	3,160,966.67
	30,160,966.67
	 

	14
	2021/9/21
	27,000,000.00
	2,767,666.67
	29,767,666.67
	 

	15
	2021/12/21
	27,000,000.00
	2,348,558.33
	29,348,558.33
	 

	16
	2022/3/21
	27,000,000.00
	1,938,000.00
	28,938,000.00
	 

	17
	2022/6/21
	27,000,000.00
	1,587,766.67
	28,587,766.67
	 

	18
	2022/9/21
	27,000,000.00
	1,194,466.67
	28,194,466.67
	 

	19
	2022/12/21
	27,000,000.00
	792,458.33
	27,792,458.33
	 

	20
	2023/3/21
	28,000,000.00
	399,000.00
	28,399,000.00
	 

	Total
	 
	475,000,000.00
	73,940,875.00
	548,940,875.00
	 

Note : Actual rent shall be based on the Schedule of Actual Rent Payments and the Notice of Rent Payment. If Party A fails to deliver the Statement and the Notice to Party B, this Schedule shall prevail. 

Party A: Chongqing Yinhai Leasing Co., Ltd. (Seal)
Authorized Representative (Signature/Seal):

Party B: Chongqing Alpha and Omega Semiconductor, Inc.(Seal) 
Authorized Representative (Signature/Seal)
[2018/5/  ]

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Annex 3: Schedule of Actual Rent Payments (Sample Form)

  1. Lease Term 
 Tenancy term is [  ] months, total for [  ] payment periods; rented from and including [Date]
  
Currency: RMB   Unit:Yuan
	
						
	Period#
	Due Date
	Principal
	Interests
	Total
	Note

	1
	 
	 
	 
	 
	 

	2
	 
	 
	 
	 
	 

	3
	 
	 
	 
	 
	 

	Total
	 
	 
	 
	 
	 

Note : If there is any inconsistency between the Schedule of Estimated Rent Payments and this Schedule, this Schedule shall prevail.

Payment by Wire Transfer 
Account Name : Chongqing Yinhai Leasing Co. Ltd. 
Bank : The Export-Import Bank of China, Chongqing Branch 
Account : 2100000100000237876

Party A: Chongqing Yinhai Leasing Co., Ltd.  (Seal)
Authorized Representative (Signature/Seal):

Party B: Chongqing Alpha and Omega Semiconductor, Inc. (Seal) 
Authorized Representative (Signature/Seal)

Date: 

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Annex 4: Notice of Rent Adjustment (Sample Form)
To: Chongqing Alpha and Omega Semiconductor, Inc.
    
Pursuant to the Finance Lease (Series Number [ ]), executed by both parties, and given one of the following situations has occurred: 

(1) The Central Bank of China adjusted the benchmark interest rate of [ ]-year loan on the date of [  ]; the current benchmark interest rate is now at [  ]. 

(2) Other: [   ] 

Our Company does hereby adjust the rent as follows: starting from [year/month/day], the lease rate is adjusted to ___. Please make payment to our company according to the “amount due after adjustment” in the chart below. 
Currency: RMB   Unit: Yuan
	
				
	Period
	Due Date
	Amount Due before Adjustment
	Amount Due after Adjustment

	 
	 
	 
	 

	...
	 
	 
	 

	...
	 
	 
	 

	...
	 
	 
	 

	Total
	 
	 
	 

Account Name : Chongqing Yinhai Leasing Co. Ltd.
Bank : The Export-Import Bank of China, Chongqing Branch 
Account : 2100000100000237876

Party A : Chongqing Yinhai Leasing Co., Ltd.(Seal)
Authorized Representative (Signature/Seal):

Party B: Chongqing Alpha and Omega Semiconductor, Inc.(Seal) 
Authorized Representative (Signature/Seal)
Date 

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Annex 5: Notice of Rent Payment (Sample Form)

To: Chongqing Alpha and Omega Semiconductor, Inc. 

Pursuant to the Finance Lease (Series Number [ ]), executed by both parties, as well as the Annexes herein attached, this notice is to inform you that the rent for period [ ] is due soon. Please see the chart below for more details. 

Currency: RMB Unit: Yuan
	
			
	Period #
	Amount to be Paid (RMB)
	Due Date

	...
	 
	 

Please make your payment to the following account by the due date 
Account Name : Chongqing Yinhai Leasing Co. Ltd. 
Bank : The Export-Import Bank of China, Chongqing Branch 
Account : 2100000100000237876

Please note: In the event your Company delays the payment or does not pay the full amount of the rent, we have the right to impose penalties, pursuant to the amount specified in the Finance Lease, and request your Company to bear other liabilities due to the breach. 

Party A: Chongqing Yinhai Leasing Co., Ltd. (Seal)
Authorized Representative (Signature/Seal):

Date: 

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Annex 6: Notice to Pay Additional Deposits (Sample Form)
To: Chongqing Alpha and Omega Semiconductor, Inc. 
    
Pursuant to the Finance Lease (Series Number [ ]),  executed by both parties, as well as the herein attached Annexes, the total amount of deposits which shall be paid to our Company are insufficient. Please see more details in the chart below. 

Currency: RMB  Unit: Yuan
	
			
	Minimum Deposits
	Current Available Deposits
	Amount to be Paid

	 
	 
	 

   Note : the deposits were deducted for the purpose of ... 

Payment must be made on the next day after the receipt of this notice. Please make your deposit payment to the account below. 
Account Name : Chongqing Yinhai Leasing Co. Ltd. 
Bank : The Export-Import Bank of China, Chongqing Branch 
Account : 2100000100000237876

Please note: In the event your Company delays the payment or does not pay the full amount of the deposits, we have the right to use your subsequent rent payments to make up for the minimum deposits required by the Lease, to impose penalties pursuant to the amount specified in the Lease, and to request your Company to bear other liabilities due to the breach. 
                  
Party A: Chongqing Yinhai Leasing Co., Ltd.  (Seal)
Authorized Representative (Signature/Seal):

Party B: Chongqing Alpha and Omega Semiconductor, Inc. (Seal) 
Authorized Representative (Signature/Seal)
Date: 

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Annex 7 : Proof if Ownership Transfer 1

To: Chongqing Yinhai Leasing Co., Ltd.

We hereby certify that, on [year/month/day], our Company received the initial payment of [  ]RMB made by your company via wire transfer from [  ] bank for the purchase of leased items.  Pursuant to the Finance Lease (Series Number xx), executed by both parties, the ownership of the leased item listed under this lease will be transferred to your Company starting from [Date]. 

              
Party A: Chongqing Yinhai Leasing Co., Ltd. (Seal)
Authorized Representative (Signature/Seal):

Party B: Chongqing Alpha and Omega Semiconductor, Inc.༈Seal) 
Authorized Representative (Signature/Seal)
[Date] 

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Annex 8: Proof of Ownership Transfer 2 (Sample Form)

To: Chongqing Alpha and Omega Semiconductor, Inc.

As of [year/month/day], our Company has received all the rent payments, deposits, and other payments required by the terms of the Finance Lease. We hereby certify that, effective from [year/month/day], the ownership of leased items specified in the Finance Lease will be transferred to your company. 

Party A: Chongqing Yinhai Leasing Co., Ltd. (Seal)
Authorized Representative (Signature/Seal):

Party B: Chongqing Alpha and Omega Semiconductor, Inc.(Seal) 
Authorized Representative (Signature/Seal)
Date 

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Annex 9: Receipt of Transferred Items (Sample Form)

To: Chongqing Yinhai Leasing Co., Ltd. (Party A)

Pursuant to the Finance Lease (Series Number [ ]), executed by both parties on [year/month/day], we have received all the leased items, which your company has complete ownership of, in good and normal operating condition without any quality defect upon delivery of the items. 

Hereby Certify. 

Party B: Chongqing Alpha and Omega Semiconductor, Inc. (Seal) 
Authorized Representative (Signature/Seal)
Date 

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