Document:

Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 AGREEMENT made as of
the 1st day of January, 2009 by and between O’Connell Benjamin, residing at
             (hereinafter referred to as the “Employee”) and Authentidate Holding Corp., a Delaware corporation with principal offices located at 300 Connell Drive, Berkeley
Heights, NJ 07922. 
 W I T N E S S E T H: 
 WHEREAS, Authentidate Holding Corp. and its subsidiaries (the “Company”) are engaged in the business of providing Internet and software-based document authentication services and related business
enterprises; and 
 WHEREAS, the Company desires to continue the employment of the Employee for the purpose of securing for the Company the
experience, ability and services of the Employee; and 
 WHEREAS, the Employee desires to continue employment with the Company pursuant to
the terms and conditions herein set forth, superseding all prior oral and written employment agreements and term sheets and letters between the Company, its subsidiaries and/or predecessors and Employee. 
 NOW, THEREFORE, it is mutually agreed by and between the parties hereto as follows: 
 Article I. 
 Definitions 
 1.1 Accrued Compensation. “Accrued Compensation” shall mean an amount which shall include all amounts earned or accrued through the
“Termination Date” (as defined below) but not paid as of the Termination Date, including 
 (a) Base Salary, 
 (b) reimbursement for business expenses incurred by the Employee on behalf of the Company, pursuant to the Company’s expense reimbursement policy in
effect at such time, 

 (c) expense allowance, 
 (d) vacation pay per Company Policy, and 
 (e) bonuses and incentive compensation earned and awarded prior
to the Termination Date. 
 1.2 “Breakeven Operations” operations shall mean, a calendar month of operations prior to
December 31, 2009, for which the Company’s shall not have suffered a loss from consolidated operations excluding 
 (a)
“extraordinary items” of gain or loss as that term shall be defined in generally accepted accounting principles; 
 (b) any gains
or profits realized from the sale of any assets in the outside the ordinary course of business; 
 (c) executive bonuses, but including base
salary of executives based on the rate of base compensation at the commencement of the calendar year 2009. 
 1.3 Cause.
“Cause” shall mean: 
 (a) willful disobedience by the Employee of a reasonable, material and lawful instruction of the Board of
Directors of the Company consistent with the duties and functions of Employee’s position; 
 (b) conviction of the Employee of any
misdemeanor involving fraud or embezzlement or similar crime, or any felony; 
 (c) fraud, gross negligence or willful misconduct in the
performance of any material duties to the Company; or 
 (d) excessive absences from work, other than for illness or Disability; provided
that the Company shall not have the right to terminate the employment of Employee pursuant to the foregoing clauses (a), (c) or (d) above unless written notice specifying such breach shall have 

 
been given to the Employee and, in the case of breach which is capable of being cured, the Employee shall have failed to cure such breach within thirty
(30) days after his receipt of such notice. 
 1.4 Change in Control. “Change in Control” shall mean any of the
following events: 
 (a) An acquisition (other than directly from the Company) of any voting securities of the Company (the “Voting
Securities”) by any “Person” (as the term person is used for purposes of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (the “1934 Act”)) immediately after which such Person has
“Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the 1934 Act) of twenty percent (20%) or more of the combined voting power of the Company’s then outstanding Voting Securities; provided, however, that in
determining whether a Change in Control has occurred, Voting Securities which are acquired in a “Non-Control Acquisition” (as defined below) shall not constitute an acquisition which would cause a Change in Control. 
  

	 	(i)	A “Non-Control Acquisition” shall mean an acquisition by (1) an employee benefit plan (or a trust forming a part thereof) maintained by (x) the Company or
(y) any corporation or other Person of which a majority of its voting power or its equity securities or equity interest is owned directly or indirectly by the Company (a “Subsidiary”), or (2) the Company or any Subsidiary.

  

	 	(ii)	 Notwithstanding an acquisition as described in this subparagraph (a), a Change in Control shall not be deemed to occur solely because a Person (the “Subject
Person”) gained Beneficial Ownership of more than the permitted amount of the outstanding 

	 	 
Voting Securities as a result of the acquisition of Voting Securities by the Company which, by reducing the number of Voting Securities outstanding,
increases the proportional number of shares Beneficially Owned by the Subject Person, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition of Voting Securities by the Company, and
after such share acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional Voting Securities which increases the percentage of the then outstanding Voting Securities Beneficially Owned by the Subject Person, then
a Change in Control shall occur. 

 (b) The individuals who, as of the date this Agreement is approved by the Board, are
members of the Board (the “Incumbent Board”), cease for any reason to constitute at least two-thirds of the Board; provided, however, that if the election, or nomination for election by the Company’s stockholders, of any new director
was approved by a vote of at least two-thirds of the Incumbent Board, such new director shall, for purposes of this Agreement, be considered and defined as a member of the Incumbent Board; and provided, further, that no individual shall be
considered a member of the Incumbent Board if such individual initially assumed office as a result of either an actual “Election Contest” (as described in Rule 14a-11 promulgated under the 1934 Act) or other solicitation of proxies or
consents by or on behalf of a Person other than the Board (a “Proxy Contest”); or 
 (c) Approval by stockholders of the Company
of: 
  

	 	(i)	 A merger, consolidation or reorganization involving the Company, unless: (1) the stockholders of the Company, immediately before 

	 	 
such merger, consolidation or reorganization, own, directly or indirectly immediately following such merger, consolidation or reorganization, at least sixty
percent (60%) of the combined voting power of the outstanding voting securities of the corporation resulting from such merger or consolidation or reorganization (the “Surviving Corporation”) in substantially the same proportion as
their ownership of the Voting Securities immediately before such merger, consolidation or reorganization, (2) the individuals who were members of the Incumbent Board immediately prior to the execution of the agreement providing for such merger,
consolidation or reorganization constitute at least two-thirds of the members of the board of directors of the Surviving Corporation, and (3) no Person (other than the Company, any Subsidiary, any employee benefit plan (or any trust forming a
part thereof) maintained by the Company, the Surviving Corporation or any Subsidiary) becomes Beneficial Owner of twenty percent (20%) or more of the combined voting power of the Surviving Corporation’s then outstanding voting securities
as a result of such merger, consolidation or reorganization, a transaction described in clauses (1) through (3) shall herein be referred to as a “Non-Control Transaction”; or 

  

	 	(ii)	 An agreement for the sale or other disposition of all or substantially all of the assets of the Company, to any Person, other than 1) a transfer to a Subsidiary, in
one transaction or a series of 

	 	 
related transactions; or 2) the sale, spin-off or divestiture of a subsidiary or business unit other than the US security software business unit.

  

	 	(iii)	The stockholders of the Company approve any plan or proposal for the liquidation or dissolution of the Company. 

 (d) Notwithstanding anything contained in this Agreement to the contrary, if the Employee’s employment is terminated prior to a Change in Control
and the Employee reasonably demonstrates that such termination (i) was at the request of a third party who has indicated an intention or taken steps reasonably calculated to effect a Change in Control (a “Third Party”) or
(ii) otherwise occurred in connection with, or in anticipation of, a Change in Control, then for all purposes of this Agreement, the date of a Change in Control with respect to the Employee shall mean the date immediately prior to the date of
such termination of the Employee’s employment. 
 1.5 Continuation Benefits. “Continuation Benefits” shall be the
continuation of the Benefits, as defined in Section 5.1, for the period from the Termination Date to either (i) the later of the Expiration Date, or the end of the month in which the one-year anniversary of the Termination Date occurs, or
(ii) such other period as specifically stated by this Agreement (the “Continuation Period”), at the Company’s expense, less any normal payroll deductions, on behalf of the Employee and his dependents; provided, however, if any of
the Benefits required to be provided by the Company during the Continuation Period under the Company’s benefit plans are, pursuant to the terms of such plans, not available to non-employees of the Company, the Company, at its sole cost and
expense, less any normal payroll deductions, shall be required to provide such benefits as shall be reasonably available and substantially similar to the benefits provided to employees of the Company. The Company’s obligation hereunder with
respect to the 

 
foregoing benefits shall also be limited to the extent that if the Employee obtains such benefits pursuant to a subsequent employer’s benefit plan, the
Company may reduce the coverage of any benefits it is required to provide the Employee hereunder as long as the aggregate coverage and benefits of the combined benefit plans is no less favorable to the Employee than the coverage and benefits
required to be provided hereunder. This definition of Continuation Benefits shall not be interpreted so as to limit any benefits to which the Employee, his dependents or beneficiaries may be entitled under any of the Company’s employee benefit
plans, programs or practices following the Employee’s termination of employment, including, without limitation, retiree medical and life insurance benefits. 
 1.6 Disability. “Disability” shall mean a physical or mental infirmity which impairs the Employee’s ability to substantially perform his duties with the Company for a period of three consecutive
months, and the Employee has not returned to his full time employment prior to the Termination Date as stated in the “Notice of Termination” (as defined below). 
 1.7 Good Reason. “Good Reason” shall mean without the written consent of the Employee: 
 (a)
a material breach of any provision of this Agreement by the Company; 
 (b) failure by the Company to pay when due any compensation to the
Employee; 
 (c) a reduction in the Employee’s Base Salary; 
 (d) failure by the Company to maintain the Employee in the positions referred to in Section 2.1 of this Agreement, unless such change was due to a
Change of Control; 
 (e) assignment to the Employee of any duties materially and adversely inconsistent with the Employee’s positions,
authority, duties, responsibilities, powers, functions, reporting relationship or title as contemplated by Section 2.1 of this Agreement or any other 

 
action by the Company that results in a material diminution of such positions, authority, duties, responsibilities, powers, functions, reporting relationship
or title, unless such change was due to a Change of Control; 
 (f) relocation of the principal office of the Company or the Employee’s
principal place of employment to a location outside a 15 (fifteen) mile radius of the present location in Berkeley Heights, New Jersey, without the Employee’s written consent; or 
 (g) a Change in Control, provided the event on which the Change of Control is predicated occurs not less than 90 nor more than 150 days of the service of
the Notice of Termination by the Employee, it being understood that Employee shall have the right to terminate his employment under this Section 1.6 (g) for any reason or no reason within such 60 day period; and provided further, however,
that the Employee agrees not to terminate his employment for Good Reason pursuant to clauses (a) through (f) unless (i) the Employee has given the Company at least 30 days’ prior written notice of his intent to terminate his
employment for Good Reason, which notice shall specify the facts and circumstances constituting Good Reason; and (ii) the Company has not remedied such facts and circumstances constituting Good Reason to the reasonable and good faith
satisfaction of the Employee within a 30-day period after receipt of such notice. 
 1.8 Notice of Termination. “Notice of
Termination” shall mean a written notice from the Company, or the Employee, of termination of the Employee’s employment which indicates the specific termination provision in this Agreement relied upon, if any, and which sets forth in
reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employee’s employment under the provision so indicated. 
 1.9 Severance Payment. “Severance Payment” shall mean an amount equal to 12 months of Employee’s Base Salary in effect on the Termination Date, but no less than $290,000. 

 1.10 Termination Date. Termination Date shall mean 
 (a) in the case of the Employee’s death, his date of death; 
 (b) in the case of Good Reason, 30 days from the date the Notice of Termination is given to the Company, provided the Company has not remedied such facts and circumstances constituting Good Reason to the reasonable
and good faith satisfaction of the Employee; 
 (c) in the case of termination of employment on or after the Expiration Date, the last day of
employment; and 
 (d) in all other cases, the date specified in the Notice of Termination; provided, however, if the Employee’s
employment is terminated by the Company for any reason except Cause, the date specified in the Notice of Termination shall be at least 30 days from the date the Notice of Termination is given to the Employee, and provided further that in the case of
Disability, the Employee shall not have returned to the full-time performance of his duties during such period of at least 30 days. 
 Article II. 
 Employment 
 2.1 Subject to and upon the terms and conditions of this Agreement, the Company hereby agrees to continue the employment of the Employee, and the Employee hereby accepts such continued employment in his capacity as
President. 

 Article III. 
 Duties 
 3.1 The Employee shall, during the term of his employment with the Company, and subject to
the direction and control of the Board, report directly to the Board, or the Chief Executive Officer, if any, and shall exercise such authority, perform such executive duties and functions and discharge such responsibilities as are reasonably
associated with his executive position or as may be reasonably assigned or delegated to him from time to time by the Board, consistent with his position as President. In general, Employee shall have management authority with respect to, and
responsibility for, the overall operations and day-to-day business and affairs of the Company and all major operating units. 
 3.2 During
the term of this Agreement and excluding periods of vacation and sick leave to which the Employee is entitled, the Employee agrees to devote substantially all of his business time and attention to the affairs of the Company and, to the extent
necessary to discharge the responsibilities assigned hereunder, use his best efforts in the performance of his duties for the Company and any subsidiary corporation of the Company. During the term of this Agreement the Employee may, so long as it
does not materially interfere with his duties hereunder: (i) subject to Article VII hereof, serve on the board of directors (or equivalent bodies) of civic, non-profit, or charitable organizations or entities unaffiliated with the Company,
(ii) deliver lectures or otherwise participate in speaking engagements, and (iii) manage his personal investments and affairs. 

 3.3 Employee shall undertake regular travel to the Company’s executive and operational offices, and
such other occasional travel within or outside the United States as is or may be reasonably necessary in the interests of the Company. All such travel shall be at the sole cost and expense of the Company, and all airplane travel shall be first or
business class, or otherwise fully reimbursed at cost, to the extent that such reimbursements do not exceed the approximate equivalent published fare for first or business class. Other expenses shall be reimbursed in accordance with the
Company’s policies for executive travel. 
 Article IV. 
 Compensation 
 4.1 During the term of this Agreement, Employee shall received
base compensation at the rate of $290,000 per annum, from January 1, 2009 to March 31, 2009, and at the rate of $200,000 per annum from April 1, 2009 to December 31, 2009 (the “Base Salary”), provided however, the Base
Salary for the period April 1, 2009 to December 31, 2009 shall be retroactively increased to the rate of $357,500 per annum, in the event (i) the Company achieves Breakeven Operations; or (ii) a Change of Control occurs prior to
December 31, 2009. 
 (a) Base Salary shall be paid to the Employee in regular installments on each of the Company’s regular pay
dates for executives, but no less frequently than monthly. 
 4.2 Employee shall receive a bonus (the “Bonus”) of 50% of Base
Salary, in the event (i) the Company achieves Breakeven Operations; or (ii) a change of control occurs prior to December 31, 2009. 
 (a) Base Salary shall include any retroactive Base Salary increase as provided in Section 4.1. 
 (b) The Bonus shall be paid
to the Employee on the earlier to occur of 30 days from the occurrence of a Change of Control; or such time as the Company’s independent accountants can reasonably determine whether the Company has achieved Breakeven Operations. 

 4.3 The Company shall deduct from Employee’s compensation all federal, state, and local taxes which
it may now or may hereafter be required to deduct under applicable law. 
 4.4 Employee may receive such other additional compensation as may
be determined from time to time by the Board including bonuses and other long term compensation plans. Nothing in this subparagraph 4.4 shall be deemed or construed to require the Board to award any bonus or additional compensation. 
 Article V. 
 Benefits 

5.1 During the term hereof, the Company shall provide Employee with the following benefits, as such benefits may change from time to time (the
“Benefits”): (i) group health care and insurance benefits as generally made available to the Company’s senior management; and (ii) such other benefits (including insurance related benefits, holiday, sick leave, personal
days, etc.) obtained by the Company or made generally available to the Company’s senior management; 
 5.2 The Company shall reimburse
Employee, upon presentation of the Company’s standard expense report accompanied by appropriate vouchers and other suitable documentation, incurred by Employee on behalf of the Company, provided such expenditure is consistent with Company
policy. 
 5.3 In the event the Company wishes to obtain Key Man life insurance on the life of Employee, Employee agrees to cooperate with
the Company in completing any applications necessary to obtain such insurance and promptly submit to such physical examinations and furnish such information as any proposed insurance carrier may request. 
 5.4 For the term of this Agreement, Employee shall be entitled to paid vacation at the rate of (4) weeks per annum. 

 Article VI. 
 Non-Disclosure 
 6.1 The Employee shall not, at any time during or after the termination of his
employment hereunder, except when acting on behalf of and with the authorization of the Company, or when required by law or legal process, or where appropriate in response to regulatory authorities, make use of or disclose to any person,
corporation, or other entity, for any purpose whatsoever, any trade secret or other confidential information concerning the Company’s business, finances, marketing, Internet and software-based document authentication services, digital image
authentication services, telehealth products and services, and related business enterprises of the Company and its subsidiaries, including information relating to any customer of the Company, or any other nonpublic business information of the
Company and/or its subsidiaries learned as a consequence of Employee’s employment with the Company, except for information available publicly or from other non-confidential sources (collectively referred to as the “Proprietary
Information”). The Employee acknowledges that Proprietary Information, as they may exist from time to time, are valuable and unique assets of the Company, and that disclosure of any such information would cause substantial injury to the
Company. Proprietary Information shall cease to be Proprietary Information, as applicable, at such time as such information becomes public other than through disclosure, directly or indirectly, by Employee in violation of this Agreement. 

6.2 If Employee is requested or required (by oral questions, interrogatories, requests for information or document subpoenas, civil investigative
demands, or similar process) to disclose any Proprietary Information, Employee shall, unless prohibited by law, promptly notify the Company of such request(s) so that the Company may seek an appropriate protective order. 

 Article VII. 
 Restrictive Covenant 
 7.1 In the event of the termination of Employee’s employment with the
Company at any time, Employee agrees that he will not, for a period of one (1) year following such termination, directly or indirectly, enter into or become associated with or engage in any other business (whether as a partner, officer,
director, shareholder, employee, consultant, or otherwise), which business is primarily involved in Internet and software-based document authentication services, digital image authentication services, delivery of health-related services and
information via telecommunications technologies, and related business enterprises or is otherwise engaged in the same or similar business as the Company in direct competition with the Company, or which the Company was in the process of developing
during the term of Employee’s employment with the Company and such development is based on actual or demonstrative anticipated research. Notwithstanding the foregoing, (x) the ownership by Employee of less than five percent of the shares
of any publicly held corporation shall not violate the provisions of this Article VII, and (y) the Employee shall not be required to comply with any provision of this Article VII following termination of this Agreement if the amounts required
to be paid under Article IX are not timely paid. 
 7.2 In furtherance of the foregoing, Employee shall not during the aforesaid period of
non-competition, directly or indirectly, in connection with any business primarily involved in the Internet and software-based document authentication services and related business enterprises, or digital image authentication services, or any
business similar to the business in which the Company was engaged, or in the process of developing during Employee’s tenure with the Company and such development is based on actual or demonstrative anticipated research, solicit any customer or
employee of the Company who was a customer or employee of the Company within one year of the Termination Date. 

 7.3 Except as otherwise may be agreed by the Company in writing, in consideration of the employment of
Employee by the Company, and free of any additional obligations of the Company to make additional payment to Employee, Employee agrees to irrevocably assign to the Company any and all inventions, software, manuscripts, documentation, improvements or
other intellectual property whether or not protectable by any state or federal laws relating to the protection of intellectual property, relating to the present or future business of the Company that are developed by Employee during the term of
his/her employment with the Company, either alone or jointly with others, and whether or not developed during normal business hours or arising within the scope of his/her duties of employment. Employee agrees that all such inventions, software,
manuscripts, documentation, improvement or other intellectual property shall be and remain the sole and exclusive property of the Company and shall be deemed the product of work for hire. Employee hereby agrees to execute such assignments and other
documents as the Company may consider appropriate to vest all right, title and interest therein to the Company and hereby appoints the Company Employee’s attorney-in-fact with full powers to execute such document itself in the event employee
fails or is unable to provide the Company with such signed documents. Notwithstanding the foregoing, this provision does not apply to an invention for which no equipment, supplies, facility, or trade secret information of the Company was used and
which was developed entirely on Employee’s own time, unless (a) the invention relates (i) to the business of the Company, or (ii) to the Company’s actual or demonstrably anticipated research or development, or (b) the
invention results from any work performed by Employee for the Company. 
 7.4 If any court shall hold that the duration of non-competition or
any other restriction contained in this Article VII is unenforceable, it is our intention that same shall not thereby be terminated but shall be deemed amended to delete therefrom such provision or portion adjudicated to be invalid or unenforceable
or, in the alternative, such judicially substituted term may be substituted therefor. 

 Article VIII. 
 Term 
 8.1 This Agreement shall be effective upon execution by both parties hereto and the employment
term (the “Initial Term”) shall commence on January 1, 2009 (the “Commencement Date”) and terminate on December 31, 2009 (the “Expiration Date”), unless sooner terminated upon the death of the Employee, or as
otherwise provided herein. 
 8.2 The Company shall notify in writing the Employee of the Company’s intention to continue
Employee’s employment after the Expiration Date no less than 90 days prior to the Expiration Date. 
 8.3 Upon termination of the
Employee’s employment with the Company, the Company shall pay Employee, in addition to any other payments due hereunder, the amounts due under Article IX. 
 Article IX. 
 Termination 
 9.1 The Company may terminate this Agreement by giving a Notice of Termination to the Employee in accordance with this Agreement: 
 (a) for Disability; 
 (b) for Cause

 (c) without Cause. 
 9.2
Employee may terminate this Agreement at any time by giving 30 days prior written Notice of Termination to the Company in accordance with this Agreement. 
 9.3 If the Employee’s employment with the Company shall be terminated, the Company shall pay and/or provide to the Employee the following compensation and benefits: 
 (a) if the Employee was terminated by the Company for Cause, or the Employee terminates without Good Reason, the Accrued Compensation; 

 (b) if the Employee was terminated by the Company for Disability, the Accrued Compensation, the Severance
Payment and the Continuation Benefits; or 
 (c) if termination was due to the Employee’s death, the Accrued Compensation; or

 (d) if the Employee was terminated by the Company without Cause or the Employee terminates this Agreement for Good Reason, (i) the
Accrued Compensation; (ii) the Severance Payment; and (iii) the Continuation Benefits. 
 (e) In the event the Company fails to
notify the Employee in accordance with Section 8.2, or after notifying the Employee fails to reach an agreement on a new employment agreement prior to the Expiration Date, Employee’s employment shall terminate on the Expiration Date and
the Company shall pay the Employee the Severance Payment; Accrued Compensation, and the Continuation Benefits. 
 9.4 The amounts payable
under this Section 9.3, shall be paid as follows: 
 (a) Accrued Compensation shall be paid on the first regular pay date after the
Termination Date (or earlier, if required by applicable law). 
 (b) If the Continuation Benefits are paid in cash, the payments shall be
made on the first day of each month during the Continuation Period (or earlier, if required by applicable law). 
 (c) The Severance Payments
shall be paid in equal installments in accordance with the Company’s regular pay dates for executives (or earlier, if required by applicable law) during a period of one year commencing with the first regular pay date after the Termination Date;

 9.5 The Employee shall not be required to mitigate the amount of any payment, including the value of any
Continuation Benefit, provided for in this Agreement by seeking other employment or otherwise and no such payment shall be offset or reduced by the amount of any compensation or benefits provided to the Employee in any subsequent employment except
as provided in Sections 1.4. 
 9.6 For a period of three years following the termination of this Agreement, Employee agrees that he will not
make any negative or derogatory statements in verbal, written, electronic or any other form about the Company, including, but not limited to, a negative or derogatory statement made in, or in connection with, any article or book, on a website, in a
chat room or via the internet except where such statement is required by law or regulation. During such three year period, none of the executive officers and directors shall make any negative or derogatory statements in verbal, written, electronic
or any other form about the Employee, including, but not limited to, a negative or derogatory statement made in, or in connection with, any article or book, on a website, in a chat room or via the internet except where such statement is required by
law or regulation. 

 Article X. 
 Termination of Prior Agreements 
 10.1 This Agreement, and the stock option, bonus plan and benefit
plans, sets forth the entire agreement between the parties and supersedes all prior agreements, letters and understandings between the parties, whether oral or written prior to the effective date of this Agreement, except for the terms of employee
stock option plans and option certificates. 
 Article XI. 
 Stock Options 
 11.1 As an inducement to Employee to enter into this Agreement, the Company hereby
grants to Employee, as of the date of execution of this Agreement, options to purchase shares of the Company’s Common Stock, $.001 par value, as follows: Subject to the terms and conditions of the Company’s 2000 Employees’ Stock
Option Plan (the “Plan”), and the terms and conditions set forth in the Stock Option Agreement which are incorporated herein by reference, the Employee is hereby granted options to purchase 400,000 shares of the Company’s Common
Stock, which shall vest as follows: 
 (a) 133,333 shall vest upon the Company achieving Breakeven Operations; 
 (b) 133,334 shall vest if the Company realizes quarterly revenue of at least $1,800,000 from the sales of Inscrybe software and maintenance services
prior to the end of the 2009 calendar year; 
 (c) 44,445 shall vest upon issuance and 44,444 shall vest on the first anniversary of issuance
and 44,444 shall vest on the second anniversary of issuance, as long as Employee continues to be an employee of the Company but subject to Section 11.2 hereto (the “Options”). The exercise price of the Options shall be the fair market
value per share of the Company’s Common Stock as of the date of issuance and shall contain such other terms and conditions as set forth in the stock option agreement. The Options provided for herein are not 

 
transferable by Employee and shall be exercised only by Employee, or by his legal representative or executor, as provided in the Plan. Such Options shall
terminate as provided in the Plan, except as otherwise modified by this Agreement. 
 11.2 In the event of a termination of Employee’s
employment with the Company pursuant to Section 9.1(c) or 9.3(e) or by the Employee for Good Reason, notwithstanding anything herein or in any stock option agreement to the contrary, (a) the Employee’s right to purchase shares of
Common Stock of the Company pursuant to any stock option granted prior to the effective date of this Agreement, shall immediately fully vest and become exercisable, (b) the exercise period in which Employee may exercise his options to purchase
Company common stock shall be extended to the duration of their original term, as if Employee remained an employee of the Company, and the terms of such options shall be deemed amended to take into account the foregoing provisions. For purposes of
clarity, Employee and Company agree that the occurrence of a Change in Control shall not affect the provisions of this Section 11.1. 
 11.3 In the event of a termination of Employee’s employment with the Company pursuant to Section 9.1(b), options granted and not exercised as of the Termination Date shall terminate immediately and be null and void. 
 11.4 In the event of a termination of Employee’s employment with the Company due to any other reason, the options granted shall be exercisable only
in accordance with the stock option plan under which they were granted. 
 Article XII. 
 Arbitration and Indemnification 
 12.1
Any dispute arising out of the interpretation, application, and/or performance of this Agreement with the sole exception of any claim, breach, or violation arising under Articles 

 
VI or VII hereof shall be settled through final and binding arbitration before a single arbitrator in the State of New Jersey in accordance with the Rules of
the American Arbitration Association. The arbitrator shall be selected by the American Arbitration Association and shall be an attorney-at-law experienced in the field of corporate law. Any judgment upon any arbitration award may be entered in any
court, federal or state, having competent jurisdiction of the parties. 
 12.2 The Company hereby agrees to indemnify, defend, and hold
harmless the Employee for any and all claims arising from or related to his employment by the Company at any time asserted, at any place asserted, to the fullest extent permitted by law. The Company shall maintain such insurance as is necessary and
reasonable (with minimum coverage of not less than $5,000,000) to protect the Employee from any and all claims arising from or in connection with his employment by the Company during the term of Employee’s employment with the Company and for a
period of six (6) years after the date of termination of employment for any reason. The provisions of this Section are in addition to and not in lieu of any indemnification, defense or other benefit to which Employee may be entitled by statute,
regulation, common law or otherwise. 
 Article XIII. 
 Severability 
 13.1 If any provision of this Agreement shall be held invalid and unenforceable, the
remainder of this Agreement shall remain in full force and effect. If any provision is held invalid or unenforceable with respect to particular circumstances, it shall remain in full force and effect in all other circumstances. 

 Article XIV. 
 Notice 
 14.1 For the purposes of this Agreement, notices and all other communications provided for
in the Agreement shall be in writing and shall be deemed to have been duly given when (a) personally delivered or (b) sent by (i) a nationally recognized overnight courier service or (ii) certified mail, return receipt requested,
postage prepaid and in each case addressed to the respective addresses as set forth below or to any such other address as the party to receive the notice shall advise by due notice given in accordance with this paragraph. All notices and
communications shall be deemed to have been received on (A) if delivered by personal service, the date of delivery thereof; (B) if delivered by a nationally recognized overnight courier service, on the first business day following deposit
with such courier service; or (C) on the third business day after the mailing thereof via certified mail. Notwithstanding the foregoing, any notice of change of address shall be effective only upon receipt. 
 The current addresses of the parties are as follows: 
  

			
	 IF TO THE COMPANY:
	 	Authentidate Holding Corp.
		 	Connell Corporate Center
		 	300 Connell Drive, Fifth Floor
		 	Berkeley Heights, NJ 07922
		
	 WITH A COPY TO:
	 	Victor J. DiGioia
		 	Becker & Poliakoff, LLP
		 	45 Broadway
		 	New York, NY 10006
		
	 IF TO THE EMPLOYEE:
	 	O’Connell Benjamin

 Article XV. 
 Benefit 
 15.1 This Agreement shall inure to, and shall be binding upon, the parties hereto, the
successors and assigns of the Company, and the heirs and personal representatives of the Employee. 
 Article XVI. 
 Waiver 
 16.1 The waiver by either
party of any breach or violation of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach of construction and validity. 
 Article XVII. 
 Governing Law 
 17.1 This Agreement has been negotiated and executed in the State of New Jersey. The law of the State of New Jersey shall govern the construction and
validity of this Agreement. 

 Article XVIII. 
 Jurisdiction 
 18.1 Any or all actions or proceedings which may be brought by the Company or Employee
under this Agreement shall be brought in courts having a situs within the State of New Jersey, and Employee and the Company each hereby consent to the jurisdiction of any local, state, or federal court located within the State of New Jersey.

 Article XIX. 
 Entire
Agreement 
 19.1 This Agreement contains the entire agreement between the parties hereto. No change, addition, or amendment shall be
made hereto, except by written agreement signed by the parties hereto. 
 IN WITNESS WHEREOF, the parties hereto have executed this
Agreement and affixed their hands and seals the day and year first above written. 
  

			
	Authentidate Holding Corp.
		
	By:	 	 /s/ David Luce

		 	David Luce
		 	Chairman of the Compensation Committee
	
	Employee
		
		 	 /s/ O’Connell Benjamin

		 	O’Connell Benjamin
		 	EmployeeSupplemental Indenture

 Exhibit 4.1 
 9.375% NOTES DUE 2019 
 SUPPLEMENTAL INDENTURE 
 between 
 INTERNATIONAL PAPER COMPANY 
 and 
 THE BANK OF NEW YORK MELLON 

(FORMERLY KNOWN AS THE BANK OF NEW YORK) 
 Dated as of May 11, 2009 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	PAGE
		  	ARTICLE 1	  	
		  	DEFINITIONS	  	
			
	 Section 1.01.
	  	Definition of Terms	  	1
			
		  	ARTICLE 2	  	
		  	TERMS AND CONDITIONS OF THE NOTES	  	
			
	 Section 2.01.
	  	Designation and Principal Amount	  	3
	 Section 2.02.
	  	Maturity	  	3
	 Section 2.03.
	  	Depository	  	3
	 Section 2.04.
	  	Form; Denomination	  	3
	 Section 2.05.
	  	Legend	  	3
	 Section 2.06.
	  	Special Transfer Provisions	  	4
	 Section 2.07.
	  	Interest	  	4
	 Section 2.08.
	  	Consolidation, Merger and Sale of Assets	  	7
	 Section 2.09.
	  	Place of Payment	  	7
	 Section 2.10.
	  	Defeasance; Discharge	  	7
			
		  	ARTICLE 3	  	
		  	REDEMPTION OF THE NOTES	  	
			
	 Section 3.01.
	  	Optional Redemption by Company	  	7
	 Section 3.02.
	  	[RESERVED]	  	9
	 Section 3.03.
	  	Change of Control Triggering Event	  	9
	 Section 3.04.
	  	No Sinking Fund	  	11
			
		  	ARTICLE 4	  	
		  	MODIFICATION	  	
			
	 Section 4.01.
	  	Modification of Indenture and Supplemental Indenture	  	11
			
		  	ARTICLE 5	  	
		  	FORMS OF NOTES	  	
			
	 Section 5.01.
	  	Forms of Notes	  	11
			
		  	ARTICLE 6	  	
		  	ORIGINAL ISSUE OF NOTES	  	
			
	 Section 6.01.
	  	Original Issue of Notes; Further Issuances	  	11
			
		  	ARTICLE 7	  	
		  	MISCELLANEOUS	  	
			
	 Section 7.01.
	  	Ratification of Indenture	  	12
	 Section 7.02.
	  	Trustee Not Responsible for Recitals	  	12
	 Section 7.03.
	  	Governing Law	  	12
	 Section 7.04.
	  	Separability	  	12
	 Section 7.05.
	  	Counterparts	  	12

  

 -i- 

 SUPPLEMENTAL INDENTURE, dated as of May 11, 2009 (the “Supplemental Indenture”),
between International Paper Company, a New York corporation (the “Company”), and The Bank of New York Mellon (formerly known as The Bank of New York), as trustee (the “Trustee”), under the Indenture, dated as of
April 12, 1999, between the Company and the Trustee (the “Indenture”). 
 WHEREAS, the Company executed and delivered
the Indenture to the Trustee to provide, among other things, for the future issuance of the Company’s unsecured Securities to be issued from time to time in one or more series as might be determined by the Company under the Indenture, in an
unlimited aggregate principal amount which may be authenticated and delivered as provided in the Indenture; 
 WHEREAS, Section 9.1 of
the Indenture provides for various matters with respect to any series of Securities issued under the Indenture to be established in an indenture supplemental to the Indenture; 
 WHEREAS, Section 9.1(7) of the Indenture provides for the Company and the Trustee to enter into an indenture supplemental to the Indenture to
establish the form or terms of Securities of any series as provided by Sections 2.1 and 3.1 of the Indenture; 
 WHEREAS, the Board of
Directors of the Company has duly adopted resolutions authorizing the Company to execute and deliver this Supplemental Indenture; 
 WHEREAS,
pursuant to the terms of the Indenture, the Company desires to provide for the establishment of a new series of its Securities to be known as its 9.375% Notes due 2019 (the “Notes”), the form and substance of such Notes and the
terms, provisions and conditions thereof to be set forth as provided in the Indenture and this Supplemental Indenture; 
 WHEREAS, the
Company has requested that the Trustee execute and deliver this Supplemental Indenture and all requirements necessary to make (i) this Supplemental Indenture a valid instrument in accordance with its terms, and (ii) the Notes, when
executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, have been performed, and the execution and delivery of this Supplemental Indenture have been duly authorized in all respects; 

NOW THEREFORE, in consideration of the purchase and acceptance of the Notes by the Holders thereof, and for the purpose of setting forth, as provided
in the Indenture, the form and substance of the Notes and the terms, provisions and conditions thereof, the Company covenants and agrees with the Trustee as follows: 
 ARTICLE 1 
 DEFINITIONS 
 Section 1.01. Definition of Terms. Unless the context otherwise requires: 
 (a) a
term defined in the Indenture has the same meaning when used in this Supplemental Indenture unless the definition of such term is amended and supplemented pursuant to this Supplemental Indenture; 
 (b) a term defined anywhere in this Supplemental Indenture has the same meaning throughout; 
 (c) the singular includes the plural and vice versa; 
  

 1 

 (d) a reference to a Section or Article is to a Section or Article in this Supplemental
Indenture; 
 (e) headings are for convenience of reference only and do not affect interpretation; 
 (f) the following terms have the meanings given to them in this Section 1.01(f): 
 “Business Day” shall have the meaning set forth in Section 3.01(c). 
 “Change of Control” shall have the meaning set forth in Section 3.03(e). 
 “Change of Control Offer” shall have the meaning set forth in Section 3.03(a). 
 “Change of Control Payment” shall have the meaning set forth in Section 3.03(a). 
 “Change of Control Payment Date” shall have the meaning set forth in Section 3.03(b). 
 “Change of Control Triggering Event” shall have the meaning set forth in Section 3.03(e). 
 “Comparable Treasury Issue” shall have the meaning set forth in Section 3.01(c). 
 “Comparable Treasury Price” shall have the meaning set forth in Section 3.01(c). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Global Note” shall have the meaning set forth in Section 2.04(a). 
 “Independent Investment Banker” shall have the meaning set forth in Section 3.01(c). 
 “Interest Payment Date” shall have the meaning set forth in Section 2.07(a). 
 “Investment Grade” shall have the meaning set forth in Section 3.03(e). 
 “Issue Date” means May 11, 2009, the date of initial issuance of the Notes. 
 “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors. 
 “Notes” shall have the meaning set forth in the recitals above. 
 “Optional Redemption Price” shall have the meaning set forth in Section 3.01(a). 
 “Person” means any individual, corporation, partnership, limited liability company, business trust, association, joint-stock company,
joint venture, trust, incorporated or unincorporated organization or government or any agency or political subdivision thereof. 
 “Rating Agency” shall have the meaning set forth in Section 3.03(e). 
 “Reference Treasury
Dealer” shall have the meaning set forth in Section 3.01(c). 
 “Reference Treasury Dealer Quotations” shall
have the meaning set forth in Section 3.01(c). 
  

 2 

 “Remaining Life” shall have the meaning set forth in Section 3.01(c). 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and its successors.

 “Substitute Rating Agency” shall have the meaning set forth in Section 2.07(c)(ix). 
 “Supplemental Indenture” shall have the meaning set forth in the recitals above. 
 “Treasury Rate” shall have the meaning set forth in Section 3.01(c). 
 “Voting Stock” shall have the meaning set forth in Section 3.03(e). 
 ARTICLE 2 
 TERMS AND CONDITIONS OF THE NOTES 
 Section 2.01. Designation and Principal Amount. There is hereby authorized a series of Securities designated the “9.375% Notes due
2019” initially issued in the aggregate principal amount of $1,000,000,000, which amount shall be as set forth in a Company Order for the authentication and delivery of such Notes pursuant to Section 3.3 of the Indenture. 

Section 2.02. Maturity. The Notes will mature on May 15, 2019. 
 Section 2.03. Depository. The Depository Trust Company shall be the initial Depository for the Notes, until a successor shall have been
appointed and become such pursuant to the applicable provisions of this Indenture, and thereafter, “Depository” shall mean or include such successor. 
 Section 2.04. Form; Denomination. 
 (a) The Notes shall be issued initially in the form of one or
more permanent Global Notes in registered form, without coupons, substantially in the form herein below recited (each, a “Global Note” and collectively, the “Global Notes”), deposited with the Trustee, as custodian
for the Depository, duly executed by the Company and authenticated by the Trustee as herein provided. 
 The aggregate principal amount of
each Global Note may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for the Depository or its nominee, as provided in Section 2.3 of the Indenture. 
 (b) The Notes shall be issuable only in registered form, without coupons, in denominations of $2,000 and integral multiples of $1,000 in excess thereof.
The Notes shall be numbered, lettered, or otherwise distinguished in such manner or in accordance with such plans as the officers of the Company executing the same may determine with the approval of the Trustee. 
 Section 2.05. Legend. Each Global Note shall bear the following legend on the face thereof: 
 UNLESS THIS GLOBAL NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY GLOBAL NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY 

  

 3 

 
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. 
 TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL
NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 Section 2.06. Special Transfer Provisions. 
 (a) A Global Note may be transferred, in whole but not in part, only to the
Depository, to a nominee of the Depository, or to a successor Depository selected or approved by the Company or to a nominee of such successor Depository. 
 (b) If at any time the Depository for the Notes notifies the Company that it is unwilling or unable to continue as Depository or if at any time the Depository for the Notes shall no longer be registered or in good
standing under the Exchange Act or other applicable statute or regulation, and a successor Depository for the Notes is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case
may be, the Company will execute, and, subject to Article 3 of the Indenture, the Trustee, upon written notice from the Company, will authenticate and make available for delivery the Notes in definitive registered form without coupons, in authorized
denominations, and in an aggregate principal amount equal to the principal amount of the Global Note in exchange for the Global Note. In addition, the Company may (subject to the procedures of the Depository) at any time determine that the Notes
shall no longer be represented by a Global Note. In such event the Company will execute, and subject to Section 3.5 of the Indenture, the Trustee, upon receipt of an Officers’ Certificate evidencing such determination by the Company, will
authenticate and deliver, the Notes in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Note in exchange for the Global Note. Upon the exchange
of the Global Note for the Notes in definitive registered form without coupons, in authorized denominations, the Global Note shall be cancelled by the Trustee. Such Notes in definitive registered form issued in exchange for the Global Note shall be
registered in such names and in such authorized denominations as the Depository, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Notes to the Depository for
delivery to the Persons in whose names such Notes are so registered. Notes represented by Global Notes will be exchangeable for Notes in definitive registered form if an Event of Default shall have occurred and be continuing. 
 Section 2.07. Interest. 
 (a) The
Notes will bear interest at the rate of 9.375% per annum, subject to adjustment as set forth in Section 2.07(c), from the most recent Interest Payment Date to which interest has been paid or duly provided for or, if no interest has been
paid, from the Issue Date until the principal thereof becomes due and payable, payable semi-annually in arrears on May 15 and November 15 of each year (each, an “Interest Payment Date”), commencing on November 15,
2009, to the Person in whose name such Note or any Predecessor Security is registered, at the close of business on the Regular Record Date for such interest installment, which shall be the close of business on the May 1 or November 1
(whether or not a 

  

 4 

 
Business Day), as the case may be, immediately preceding such Interest Payment Date, and at the foregoing respective rates on overdue principal. 

(b) The amount of interest payable for any period less than a full interest period will be computed on the basis of a 360-day year of twelve 30-day
months and the actual days elapsed in a partial month in such period. In the event that any date on which interest is payable on the Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding
day which is a Business Day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on the date such payment was originally payable. 
 (c) The interest rate payable on the Notes shall be subject to adjustment from time to time if either Moody’s or S&P (or, in either case, any
Substitute Rating Agency thereof) downgrades (or subsequently upgrades) the debt rating assigned to the Notes in the manner described below: 
 (i) If the rating from Moody’s (or any Substitute Rating Agency thereof) of the Notes is decreased to a rating set forth in the immediately following table, the interest rate payable on the Notes will increase
from the interest rate payable on the Notes on the Issue Date by the percentage points set forth opposite that rating: 
  

			
	 Moody’s Ratingsa
	  	Percentage Points
	 Ba1
	  	0.25
	 Ba2
	  	0.50
	 Ba3
	  	0.75
	 B1 or below
	  	1.00

 (ii) If the rating from S&P (or any Substitute Rating Agency thereof) of the
Notes is decreased to a rating set forth in the immediately following table, the interest rate payable on the Notes will increase from the interest rate payable on the Notes on the Issue Date by the percentage points set forth opposite that rating:

  

			
	 S&P Ratingsb
	  	Percentage Points
	 BB+
	  	0.25
	 BB
	  	0.50
	 BB-
	  	0.75
	 B+ or below
	  	1.00

 (iii) If at any time the interest rate on the Notes has been adjusted upward and
either Moody’s or S&P (or, in either case, a Substitute Rating Agency thereof), as the case may be, subsequently increases its rating of the Notes to any of the threshold ratings set forth above, the interest rate on the Notes will be
decreased such that the interest rate for the Notes equals the interest rate payable on the Notes on the Issue Date plus the percentage points set forth opposite the ratings from the tables above in effect immediately following the rating increase.
If Moody’s 
  

	a	Including the equivalent ratings of any Substitute Rating Agency. 

	b	Including the equivalent ratings of any Substitute Rating Agency. 

  

 5 

 
(or any Substitute Rating Agency thereof) subsequently increases its rating of the Notes to Baa3 (or its equivalent, in the case of a Substitute Rating
Agency) or higher and S&P (or any Substitute Rating Agency thereof) increases its rating to BBB- (or its equivalent, in the case of a Substitute Rating Agency) or higher, the interest rate on the Notes will be decreased to the interest rate
payable on the Notes on the Issue Date. In addition, the interest rates on the Notes will permanently cease to be subject to any adjustment pursuant to this Section 2.07(c) (notwithstanding any subsequent decrease in the ratings by either or
both such rating agencies) if the Notes become rated A3 (stable or better) and A- (stable or better) (or the equivalent of either such rating, in the case of a Substitute Rating Agency) or higher by Moody’s and S&P (or, in either case, any
Substitute Rating Agency thereof), respectively (or one of these ratings if the Notes are only rated by one such rating agency). 
 (iv) Each adjustment required by any decrease or increase in a rating set forth above, whether occasioned by the action of Moody’s or S&P (or, in either case, any Substitute Rating Agency thereof), shall be made independent of any
and all other adjustments. In no event shall (1) the interest rate on the Notes be reduced to below the interest rate payable on the Notes on the Issue Date or (2) the total increase in the interest rate on the Notes exceed 2.00 percentage
points above the interest rate payable on the Notes on the Issue Date. 
 (v) No adjustments in the interest rate of the Notes
shall be made solely as a result of a rating agency ceasing to provide a rating of the Notes. If at any time less than two rating agencies provide a rating of the Notes for a reason beyond the Company’s control, the Company will use its
commercially reasonable efforts to obtain a rating of the Notes from a Substitute Rating Agency, to the extent one exists, and if a Substitute Rating Agency exists, for purposes of determining any increase or decrease in the interest rate on the
Notes pursuant to the tables above, (a) such Substitute Rating Agency will be substituted for the last rating agency to provide a rating of the Notes but which has since ceased to provide such rating, (b) the relative ratings scale used by
such Substitute Rating Agency to assign ratings to senior unsecured debt will be determined in good faith by an independent investment banking institution of national standing appointed by the Company and, for purposes of determining the applicable
ratings included in the applicable table above with respect to such Substitute Rating Agency, such ratings will be deemed to be the equivalent ratings used by Moody’s or S&P, as applicable, in such table and (c) the interest rate on
the Notes will increase or decrease, as the case may be, such that the interest rate equals the interest rate payable on the Notes on the Issue Date plus the appropriate percentage points, if any, set forth opposite the rating from such Substitute
Rating Agency in the applicable table above (taking into account the provisions of clause (b) above) (plus any applicable percentage points resulting from a decreased rating by the other rating agency). For so long as only one rating agency
provides a rating of the Notes, any subsequent increase or decrease in the interest rate of the Notes necessitated by a reduction or increase in the rating by the agency providing the rating shall be twice the percentage points set forth in the
applicable table above. For so long as none of Moody’s, S&P or a Substitute Rating Agency provides a rating of the Notes, the interest rate on the Notes will increase to, or remain at, as the case may be, 2.00 percentage points above the
interest rate payable on the Notes on the Issue Date. 
 (vi) Any interest rate increase or decrease described above will take
effect from the Interest Payment Date immediately preceding a rating change which requires an adjustment in the interest rate. 
 (vii) Promptly after any change in the interest rate borne by the Notes as provided above, the Company shall give the Trustee an Officers’ Certificate to the effect that the interest 

  

 6 

 
rate borne by the Notes has changed in accordance with this Section 2.07(c) and setting forth the amount of the related increase or decrease and the new
interest rate borne by the Notes. 
 (viii) If the interest rate payable on the Notes is increased pursuant to this
Section 2.07(c), the term “interest,” as used in the Indenture with respect to the Notes, as supplemented by this Supplemental Indenture, will be deemed to include any such additional interest unless the context otherwise requires. If
the Company defeases or discharges the Indenture in accordance with Section 4.1 of the Indenture, or the Notes or certain obligations related thereto in accordance with Sections 4.3 and 10.11 of the Indenture and Section 2.10 hereof, there
will be no further adjustment in the interest rate on the Notes after such defeasance or discharge. 
 (ix) The following term
has the meaning given to it in this Section 2.07(c)(ix): 
 “Substitute Rating Agency” means a “nationally
recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as certified by a resolution of the board of directors of the Company and delivered to the Trustee) as a
replacement agency for Moody’s, S&P or another Substitute Rating Agency, or all of them, as the case may be. 
 Section 2.08.
Consolidation, Merger and Sale of Assets. For purposes of the Notes, Section 8.1 of the Indenture is amended to add “limited liability company,” immediately after “corporation,” and immediately before
“partnership or trust” in clause (1) thereof. 
 Section 2.09. Place of Payment. The Place of Payment where Notes
may be presented or surrendered for payment, where Notes may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Notes and the Indenture may be served initially is the
Corporate Trust Office of the Trustee. 
 Section 2.10. Defeasance; Discharge. The provisions of Section 4.3 and
Section 10.11 of the Indenture will apply to the Notes. 
 ARTICLE 3 
 REDEMPTION OF THE NOTES 
 Section 3.01. Optional Redemption by Company.

 (a) Subject to Article XI of the Indenture, the Company shall have the right to redeem the Notes, in whole or in part, at any time or from
time to time, at a redemption price (the “Optional Redemption Price”) equal to the greater of: 
 (i) 100% of
the principal amount of the Notes being redeemed, plus accrued and unpaid interest to the Redemption Date; or 
 (ii) the sum
of the present values of the remaining scheduled payments of principal and interest in respect of the Notes being redeemed (exclusive of interest accrued to the Redemption Date of the Notes to be redeemed) discounted to the Redemption Date on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points, plus accrued interest on the principal amount being redeemed to the Redemption Date. 
  

 7 

 Any redemption pursuant to the preceding paragraph will be made upon not less than 30 nor more than 60
days’ prior notice before the Redemption Date to each Holder of the Notes to be redeemed, at the Optional Redemption Price. If Notes are only partially redeemed pursuant to this Section 3.01(a), the Notes to be redeemed will be selected by
the Trustee in accordance with Section 11.3 of the Indenture; provided that if at the time of redemption the Notes to be redeemed are registered as a Global Note, the Depository shall determine, in accordance with its procedures, the
principal amount of the Notes to be redeemed held by each Holder of such Notes to be redeemed. The Optional Redemption Price shall be paid prior to 12:00 noon, New York time, on the date of such redemption or at such earlier time as the Company
determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Redemption Price by 10:00 a.m., New York time, on the date such Optional Redemption Price is to be paid. 
 (b) Notice of any redemption pursuant to this Section 3.01 shall be given as provided in Section 11.4 of the Indenture except that any notice
of such redemption shall not specify the related Optional Redemption Price but only the manner of calculation thereof. The Trustee shall not be responsible for the calculation of such Optional Redemption Price. The Company shall calculate such
Optional Redemption Price and promptly notify the Trustee thereof. 
 (c) The following terms have the meanings given to them in this
Section 3.01(c): 
 “Business Day” means any calendar day that is not a Saturday, Sunday or legal
holiday in New York, New York and on which commercial banks are open for business in New York, New York. 
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term (“Remaining Life”) of the Notes to be
redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes. 
 “Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the Reference Treasury
Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the
average of all such Quotations. 
 “Independent Investment Banker” means an independent investment banking
institution of national standing appointed by the Company. 
 “Reference Treasury Dealer” means (i) each
of Citigroup Global Markets Inc., UBS Securities LLC, Banc of America Securities LLC, BNP Paribas Securities Corp., J.P. Morgan Securities Inc. and RBS Securities Inc. and their respective successors, provided, however, that if any of the
foregoing shall cease to be a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer and (ii) any other Primary
Treasury Dealer selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to
each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Independent 

  

 8 

 
Investment Banker by such Reference Treasury Dealer at 5:00 p.m. on the third Business Day preceding such Redemption Date. 
 “Treasury Rate” means, with respect to any Redemption Date, (i) the yield, under the heading which represents the
average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System
and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no
maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated
from such yields on a straight line basis, rounding to the nearest month) or (ii) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum
equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such
Redemption Date. The Treasury Rate shall be calculated on the third Business Day preceding such Redemption Date. 
 Section 3.02.
[RESERVED] 
 Section 3.03. Change of Control Triggering Event. 
 (a) Upon the occurrence of a Change of Control Triggering Event, unless the Company has exercised the right to redeem the Notes pursuant to
Section 3.01 by giving irrevocable notice to the Trustee in accordance with the Indenture, each Holder of Notes will have the right to require the Company to purchase all or a portion of such Holder’s Notes pursuant to the offer described
below (the “Change of Control Offer”), at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase (the “Change of Control Payment”), subject
to the rights of Holders of the Notes on the relevant record date to receive interest due on the relevant Interest Payment Date. 
 (b)
Within 30 days following the date upon which the Change of Control Triggering Event occurred, or at the Company’s option, prior to any Change of Control but after the public announcement of the pending Change of Control, the Company shall send,
by first class mail, a notice to each Holder of Notes, with a copy to the Trustee, which notice will govern the terms of the Change of Control Offer. Such notice shall state, among other things, the purchase date, which must be no earlier than 30
days nor later than 60 days from the date such notice is mailed, other than as may be required by law (the “Change of Control Payment Date”). The notice, if mailed prior to the date of consummation of the Change of Control, shall
state that the Change of Control Offer is conditioned on the Change of Control being consummated on or prior to the Change of Control Payment Date. 
 (c) On the Change of Control Payment Date, the Company shall, to the extent lawful: 
 (i) accept or cause a third
party to accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 
 (ii)
deposit or cause a third party to deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and 
  

 9 

 (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted
together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased and that all conditions precedent in this Section 3.03 to the Change of Control Offer and to the repurchase by
the Company of Notes pursuant to the Change of Control Offer have been complied with. 
 The Company will not be required to make a Change of
Control Offer if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for such an offer made by the Company and such third party purchases all the Notes properly tendered and not withdrawn
under its offer. 
 (d) The Company shall comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any
such securities laws or regulations conflict with this Section 3.03, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under this Section 3.03 by virtue of any such
conflict. 
 (e) The following terms have the meanings given to them in this Section 3.03(e): 
 “Change of Control” means the occurrence of any of the following after the Issue Date: (1) the direct or indirect sale, lease,
transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole to any
“person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange Act) other than to the Company or one of its Subsidiaries; (2) the consummation of any transaction (including, without limitation, any
merger or consolidation) the result of which is that any “person” or “group” (as those terms are used in Section13(d)(3) of the Exchange Act, it being agreed that an employee of the Company or any of its Subsidiaries for whom
shares are held under an employee stock ownership, employee retirement, employee savings or similar plan and whose shares are voted in accordance with the instructions of such employee shall not be a member of a “group”(as that term is
used in Section 13(d)(3) of the Exchange Act) solely because such employee’s shares are held by a trustee under said plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or
indirectly, of the Company’s Voting Stock representing more than 50% of the voting power of the Company’s outstanding Voting Stock; (3) the Company consolidates with, or merges with or into, any Person, or any Person consolidates
with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or Voting Stock of such other Person is converted into or exchanged for cash, securities or other
property, other than any such transaction where the Company’s Voting Stock outstanding immediately prior to such transaction constitutes, or is converted into or exchanged for, Voting Stock representing more than 50% of the voting power of the
Voting Stock of the surviving Person immediately after giving effect to such transaction; (4) during any period of 24 consecutive calendar months, the majority of the members of the board of directors of the Company shall no longer be composed
of individuals (a) who were members of the board of directors of the Company on the first day of such period or (b) whose election or nomination to the board of directors of the Company was approved by individuals referred to in clause
(a) above constituting, at the time of such election or nomination, at least a majority of the board of directors of the Company; or (5) the adoption of a plan relating to the liquidation or dissolution of the Company. 
 “Change of Control Triggering Event” means the Notes cease to be rated Investment Grade by each of the Rating Agencies on any date
during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending Change of 

  

 10 

 
Control) and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of
Control for so long as any of the Rating Agencies has publicly announced that it is considering a possible ratings change). If a Rating Agency is not providing a rating for the Notes at the commencement of any Trigger Period, the Notes will be
deemed to have ceased to be rated Investment Grade by such Rating Agency during that Trigger Period. Notwithstanding the foregoing, no Change of Control Triggering Event will be deemed to have occurred in connection with any particular Change of
Control unless and until such Change of Control has actually been consummated. 
 “Investment Grade” means a rating of Baa3
or better by Moody’s (or its equivalent under any successor rating category of Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P), and the equivalent investment grade
credit rating from any replacement rating agency or rating agencies selected by the Company under the circumstances permitting it to select a replacement agency and in the manner for selecting a replacement agency, in each case as set forth in the
definition of “Rating Agency.” 
 “Rating Agency” means each of Moody’s and S&P; provided that if
any of Moody’s or S&P ceases to provide rating services to issuers or investors, the Company may appoint another “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the
Exchange Act as a replacement for such Rating Agency; provided that the Company shall give notice of such appointment to the Trustee. 
 “Voting Stock” of any specified Person as of any date means the capital stock of such Person that is at the time entitled to vote generally in the election of the board of directors of such Person. 
 Section 3.04. No Sinking Fund. The Notes are not entitled to the benefit of any sinking fund. 
 ARTICLE 4 
 MODIFICATION 
 Section 4.01. Modification of Indenture and Supplemental Indenture. Section 9.2
of the Indenture, as it relates to the Notes, is hereby modified so that the reference to “not less than 66 2/3%” shall
read “not less than a majority”, except that in the case of increasing (or reopening) the principal amount, no consent of Holders will be required. 
 ARTICLE 5 
 FORMS OF NOTES 
 Section 5.01. Forms of Notes. The Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the form of Exhibit A hereto. 
 ARTICLE 6 
 ORIGINAL ISSUE OF NOTES 

Section 6.01. Original Issue of Notes; Further Issuances. 
 (a) Notes having an aggregate principal amount of $1,000,000,000 may, upon execution of this Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall
thereupon authenticate and deliver said Notes to or upon a Company Order, signed by its Chairman, its Vice Chairman, its President, or any Vice President and by its Treasurer, an Assistant 

  

 11 

 
Treasurer, its Secretary or any Assistant Secretary, without any further action by the Company, except as otherwise required by the Indenture. 
 (b) The Company may, without notice to or the consent of the Holders of the Notes, issue additional Notes having identical terms and conditions as the
Notes issued on the Issue Date, except for issue date, issue price and first Interest Payment Date, in an unlimited aggregate principal amount. Any such additional Notes will be part of the same series as the Notes issued on the Issue Date and will
be treated as one class with such Notes, including, without limitation, for purposes of voting and redemptions. 
 ARTICLE 7 
 MISCELLANEOUS 
 Section 7.01.
Ratification of Indenture. The Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein
and therein provided. 
 Section 7.02. Trustee Not Responsible for Recitals. The recitals herein contained are made by the
Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 
 Section 7.03. Governing Law. This Supplemental Indenture and the Notes shall be governed by and construed in accordance with the laws of the
State of New York without regard to conflicts of laws. 
 Section 7.04. Separability. In case any one or more of the provisions
contained in this Supplemental Indenture or in the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Supplemental
Indenture or of the Notes, but this Supplemental Indenture and the Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 
 Section 7.05. Counterparts. This Supplemental Indenture may be executed in any number of counterparts each of which shall be an original; but
such counterparts shall together constitute but one and the same instrument. 
  

 12 

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

			
	INTERNATIONAL PAPER COMPANY
		
	By:	 	 /s/ Errol A. Harris

	Name:	 	Errol A. Harris
	Title:	 	Vice President and Treasurer

  

			
	Attest:
		
	By:	 	 /s/ M.J.A. “Jekka” Pinckney

	Name:	 	M.J.A. “Jekka” Pinckney
	Title:	 	Assistant Secretary

  

			
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:	 	 /s/ Laurence J. O’Brien

	Name:	 	Laurence J. O’Brien
	Title:	 	Vice President

  

 13 

 Exhibit A 
 (FORM OF FACE OF NOTE) 
 [UNLESS THIS GLOBAL NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY GLOBAL NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO
TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.]a 
  

			
	No. [        ]	  	CUSIP No. [            ]

 INTERNATIONAL PAPER COMPANY 
 9.375% NOTE DUE 2019 
 INTERNATIONAL PAPER COMPANY, a New York corporation (the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to [X] or registered assigns, the principal sum of [X] ($[X]) [or such other sum as is
set forth in the Schedule of Increases or Decreases of Global Note attached hereto]b on May 15, 2019, and to pay interest on said principal sum
semi-annually in arrears on May 15 and November 15 of each year (each such date, an “Interest Payment Date”) commencing November 15, 2009, at the rate of 9.375% per annum (subject to adjustment as described
below) from the most recent Interest Payment Date to which interest has been paid or duly provided for or, if no interest has been paid, from the Issue Date until the principal hereof shall have become due and payable, and at such rate on any
overdue principal. The amount of interest payable for any period less than a full interest period will be computed on the basis of a 360-day year of twelve 30-day months and the actual days elapsed in a partial month in such period. In the event
that any date on which interest is payable on the Notes of this series is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day which is a Business 
  

	a	Insert in Global Notes only 

	b	Insert in Global Notes only 

  

 A-1 

 
Day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on the date such payment was
originally payable. 
 The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as
provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities, as defined in said Indenture) is registered at the close of business on the Regular Record Date for such interest installment, which
shall be the close of business on the May 1 or November 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. Any such interest installment not punctually paid or duly provided for shall
forthwith cease to be payable to the registered Holders on such Regular Record Date and may be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a special record date to be
fixed by the Trustee for the payment of such defaulted interest, notice whereof shall be given to the registered Holders of the Notes 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 securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. The principal of
(and premium, if any) and the interest on this Note shall be payable at the office or agency of the Trustee maintained for that purpose in any coin or currency of the United States of America that at the time of payment is legal tender for payment
of public and private debts. 
 This Note shall not be entitled to any benefit under the Indenture hereinafter referred to or be valid or
become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee. 
 The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 
  

 A-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be executed on this
     day of                     ,             . 
 INTERNATIONAL PAPER COMPANY 
 By:     
                                         
                                        

Name: 
 Title: 
 Attest: 
 By:     
                                         
                                        

Name: 
 Title: 
  

 A-3 

 (FORM OF CERTIFICATE OF AUTHENTICATION) 
 CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the series designated
therein referred to in the within-mentioned Indenture. 
 Dated:
                                 
 The Bank of New York Mellon, as Trustee 
 By:
                                         
                                        

Authorized Signatory 
  

 A-4 

 (FORM OF REVERSE OF NOTE) 
 This Note is one of a duly authorized series of Notes of the Company (herein sometimes referred to as the “Notes”), specified in the Indenture, all issued or to be issued in one or more series under
and pursuant to an Indenture, dated as of April 12, 1999, duly executed and delivered between the Company and The Bank of New York Mellon (formerly known as The Bank of New York), as Trustee (the “Trustee”), as supplemented by
the 9.375% Notes due 2019 Supplemental Indenture dated as of May 11, 2009 (the “Supplemental Indenture”), between the Company and the Trustee (the Indenture, as so supplemented, the “Indenture”), to which
Indenture and all Indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Notes. The Notes of
this series shall have the designation and are initially issued in aggregate principal amount as specified in said Supplemental Indenture. 
 The interest rate payable on this Note will be subject to adjustment from time to time, on the terms set forth in the Supplemental Indenture, if either Moody’s or S&P (or, in either case, any Substitute Rating Agency thereof)
downgrades (or subsequently upgrades) the debt rating assigned to the Notes of this series. If the interest rate payable on this Note is increased in accordance with the terms hereof and the Supplemental Indenture, then the term
“interest,” as used in this Note and the Supplemental Indenture, will be deemed to include any such additional interest unless the context requires otherwise. 
 This Note shall be subject to redemption as provided in Section 3.01 of the Supplemental Indenture and Article XI of the Indenture. 
 Upon the occurrence of a Change of Control Triggering Event with respect to the Notes of this series, the Company shall be required to make an offer to repurchase the Notes of this series on the terms set forth in
Section 3.03 of the Supplemental Indenture. 
 In case an Event of Default, as defined in the Indenture, with respect to the Notes of
this series shall have occurred and be continuing, the principal of all of the Notes of this series may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in
the Indenture. 
 The Indenture contains provisions permitting the Company and the Trustee, with the consent of the Holders of not less than
a majority in principal amount of the Notes of each series affected at the time outstanding, as defined in the Indenture, to execute supplemental indentures for the purpose of adding any provisions to or changing in any manner or eliminating any of
the provisions of the indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of the Notes, subject to Section 9.2 of the Indenture. The Indenture also contains provisions permitting the Holders of not
less than a majority in principal amount of the Notes of any series at the time outstanding, on behalf of all of the Holders of the Notes of such series, to waive any past default under the Indenture or Supplemental Indenture and its consequences,
subject to Section 5.13 and Article IX of the Indenture. Any such consent or waiver by the registered Holder of this Note (unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders
and owners of this Note and of any Note issued in exchange therefor or in place hereof (whether by registration of transfer or otherwise), irrespective of whether or not any notation of such consent or waiver is made upon this Note. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and 

  

 A-5 

 
premium, if any, and interest on this Note at the time and place and at the rate and in the money herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable by the registered Holder hereof on the
Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Trustee in The City and State of New York accompanied by a written instrument or instruments of transfer in form satisfactory
to the Company or the Trustee duly executed by the registered Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal amount and series will be
issued to the designated transferee or transferees. No service charge will be made for any such transfer, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in relation thereto. 

Prior to due presentment for registration of transfer of this Note, the Company, the Trustee, any Paying Agent and the Security Registrar may deem and
treat the registered Holder hereof as the absolute owner hereof (whether or not this Note shall be overdue and notwithstanding any notice of ownership or writing hereon made by anyone other than the Security Registrar) for the purpose of receiving
payment of or on account of the principal hereof and premium, if any, and (subject to Sections 3.5 and 3.7 of the Indenture) interest due hereon and for all other purposes, and neither the Company nor the Trustee nor any Paying Agent nor any
Security Registrar shall be affected by any notice to the contrary. 
 No recourse shall be had for the payment of the principal of, premium,
if any, or the interest on this Note, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the
Company or of any predecessor or successor corporation, 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 issuance hereof, expressly waived and released. 
 The Notes of this series are issuable only in registered form,
without coupons, in denominations of $2,000 and integral multiples of $1,000 in excess thereof. [This Global Note is exchangeable for Notes in definitive form only under certain limited circumstances set forth in the Indenture.]a As provided in the Indenture and subject to certain limitations herein and therein set forth, Notes of this series so issued are exchangeable for a like
aggregate principal amount of Notes of this series of a different authorized denomination, as requested by the Holder surrendering the same. 
 All terms used in this Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 THE
INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS. 
   
  

	a	Insert in Global Notes only 

  

 A-6 

 [FORM OF TRANSFER NOTICE] 
 FOR VALUE RECEIVED the undersigned registered Holder hereby sell(s), assign(s) and transfer(s) unto 
 Insert Taxpayer
Identification No. 
  

	
	  

 Please print or typewrite name and address including zip code of assignee 
  

	
	  

 the within Note and all rights thereunder, hereby irrevocably constituting and appointing
                     attorney to transfer said Note on the books of the Company with full power of substitution in the premises. 
  

			
	Your Signature:
		
	By:	 	  

		
	Date:	 	  

	
	Signature Guarantee:
		
	By:	 	  

		 	(Participant in a Recognized Signature Guaranty Medallion Program)
		
	Date:	 	  

  

 A-7 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE
a 
 The following increases or
decreases in this Global Note have been made: 
  

									
	 Date of Exchange
	 	Amount of decrease
in Principal Amount
of this Global Note	 	Amount of increase
in Principal Amount
of this Global Note	 	Principal Amount of this
Global Note following
such decrease or increase	 	Signature of
authorized signatory
of Trustee or
Securities Custodian

  
  
  

	 a
	 Insert in Global Notes only 

  

 A-8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00158-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00158-of-00352.parquet"}]]