Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

SECURITIES PURCHASE AGREEMENT 

This Securities Purchase Agreement (this “Agreement”) is dated as of January 16, 2021 (the “Effective
Date”), among Beam Therapeutics Inc., a Delaware corporation (the “Company”), and each purchaser identified on the signature pages hereto (each a “Purchaser” and collectively the
“Purchasers”). 
 WHEREAS, the Company and the Purchasers are executing and delivering this Agreement in reliance
upon the exemption from securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). 

WHEREAS, each Purchaser wishes to purchase, and the Company wishes to sell, upon the terms and conditions stated in this Agreement, the number
of shares of Common Stock set forth opposite such Purchaser’s name on Exhibit A hereto, which aggregate number of shares of Common Stock for all Purchasers together shall be 2,795,700 shares of Common Stock (the
“Shares”). 
 WHEREAS, in connection with the offering and sale of the Shares, the Company has entered into
engagement letters dated January 15, 2021, with each of J.P. Morgan Securities LLC (the “Lead Placement Agent”) and William Blair & Company, L.L.C. (the “Joint Placement
Agent”, and together with J.P. Morgan, the “Placement Agents”). 
 NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and each Purchaser, severally
and not jointly, agree as follows: 
  

	1.	 DEFINITIONS 

1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings set forth in
this Section 1.1: 
 “Closing” means the closing of the purchase and sale of the Shares on
the Closing Date pursuant to Section 2.1 of this Agreement. 
 “Closing Date” means
January 21, 2021. 
 “Closing Price” means $93.00 per share. 

“Commission” means the United States Securities and Exchange Commission. 

“Common Stock” means the common stock of the Company, $0.01 par value per share, and any other class of securities
into which such securities may hereafter be reclassified or changed into. 
 “Exchange Act” means the Securities
Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
 “GAAP” means U.S.
generally accepted accounting principles consistently applied. 

  
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 “Investment Company Act” means the Investment Company Act of 1940,
as amended. 
 “Material Adverse Effect” means a circumstance that (i) could reasonably be expected to have a
material adverse effect on the performance of this Agreement or the consummation of any of the transactions contemplated hereby or (ii) could reasonably be expected to have a material adverse effect on the condition (financial or otherwise),
earnings, business, prospects or properties of the Company and the Subsidiaries (as defined below) taken as a whole. 

“Nasdaq” means The Nasdaq Global Select Market. 

“Registration Statement” means a registration statement or registration statements of the Company filed under the
Securities Act pursuant to Section 4 hereof. 
 “Rule 144” means Rule 144 promulgated by
the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“SEC Reports” means collectively all reports, schedules, forms, statements and other documents required to be filed by
the Company under the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, since February 5, 2020 (including the exhibits thereto and documents incorporated by reference therein). 

“Short Sales” means all “short sales” as defined in Rule 200 of Regulation SHO of the Exchange Act, but
shall be deemed to not include the location and/or reservation of borrowable shares of Common Stock. 
 “Trading
Day” means a day on which the Common Stock is traded on Nasdaq. 
 “Transaction Documents” means this
Agreement, and any other documents or agreements executed and delivered to the Purchasers in connection with the transactions contemplated hereunder. 
  

	2.	 PURCHASE AND SALE 

2.1 Closing. 

(a) At the Closing, upon the terms set forth herein, the Company hereby agrees to issue and sell to each Purchaser, and each Purchaser
agrees to purchase from the Company, severally and not jointly, the number of Shares set forth opposite such Purchaser’s name on Exhibit A hereto, at a purchase price equal to the Closing Price per share of Common Stock. 

(b) At the Closing, each Purchaser shall deliver to the Company via wire transfer immediately available funds equal to the purchase
price set forth opposite such Purchaser’s name on Exhibit A hereto and the Company shall deliver to each Purchaser its respective Shares in the amount set forth opposite such Purchaser’s name on Exhibit A hereto, deliverable at the
Closing on the Closing Date, in accordance with Section 2.2 of this Agreement. The Closing shall occur at 10:00 a.m. (New York City Time) on the Closing Date or such other time and location as the parties shall mutually
agree. 

  
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 2.2 Deliveries; Closing Conditions. 

(a) At the Closing, the Company will deliver or cause to be delivered to each Purchaser certificate(s) or book-entry shares representing
the Common Stock, purchased by such Purchaser, registered in such Purchaser’s name. Such delivery shall be against payment of the purchase price therefor by such Purchaser by wire transfer of immediately available funds to the Company in
accordance with the Company’s written wiring instructions. 
 (b) The respective obligations of the Company, on the one hand, and
each Purchaser, on the other hand, hereunder in connection with the Closing are subject to the following conditions being met: 
 (i)
the accuracy in all material respects on the Closing Date of the representations and warranties contained herein (unless made as of a specified date therein) of the Company (with respect to the obligations of the Purchasers) and the Purchasers (with
respect to the obligations of the Company); 
 (ii) all obligations, covenants and agreements of the Company (with respect to the
obligations of the Purchasers) and the Purchasers (with respect to the obligations of the Company) required to be performed at or prior to the Closing Date shall have been performed in all material respects; 

(iii) The Purchasers shall have received a certificate of the Secretary of the Company (a “Secretary’s
Certificate”), dated as of the Closing Date in form and substance reasonably satisfactory to the Purchasers; 
 (iv) The
Purchasers shall have received a certificate signed by the Chief Executive Officer of the Company (an “Officer’s Certificate”), dated as of the Closing Date in form and substance reasonably satisfactory to the
Purchasers; 
 (v) The Purchasers shall have received an opinion of Ropes & Gray LLP, counsel for the Company
(“Company Counsel”), dated as of the Closing Date, in a form reasonably satisfactory to the Purchasers; and 

(vi) No Material Adverse Effect has occurred. 
  

	3.	 REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties of the Company. Assuming the accuracy of the representations and warranties of the Purchasers
set forth in Section 3.2 of this Agreement and except as set forth in the SEC Reports, which disclosures serve to qualify these representations and warranties in their entirety, the Company represents and warrants to the
Purchasers and the Placement Agents that the statements contained in this Section 3.1 are true and correct as of the date hereof and as of the Closing Date: 

(a) The Company was not and is not an Ineligible Issuer (as defined in Rule 405 under the Securities Act), without taking account of any
determination by the Commission pursuant to Rule 405 that it is not necessary that the Company be considered an Ineligible Issuer. 

  
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 (b) The Company has been duly incorporated and is validly existing as a corporation in good
standing under the laws of the State of Delaware, with full corporate power and authority to own, lease and operate its properties and conduct its business, to execute and deliver this Agreement and to issue, sell and deliver the Shares as
contemplated herein. 
 (c) The Company is duly qualified to do business as a foreign corporation and is in good standing in the Commonwealth
of Massachusetts, which is the only jurisdiction where the ownership or leasing of its properties or the conduct of its business requires such qualification, except where the failure to be so qualified and in good standing would not, individually or
in the aggregate, have a Material Adverse Effect. 
 (d) The authorized capital stock of the Company consists of 250,000,000 shares of common
stock and 25,000,000 shares of undesignated Preferred Stock. As of the Effective Date, there are no shares of Preferred Stock issued and outstanding and there are 58,418,198 shares of Common Stock issued and outstanding, of which no shares are owned
by the Company. There are no other shares of any other class or series of capital stock of the Company issued or outstanding. 
 (e) The
Company has no subsidiaries (as defined under the Securities Act) other than Beam Therapeutics Securities Corporation and Blink Therapeutics Inc. (each a “Subsidiary” and together, the “Subsidiaries”);
the Company owns all of the issued and outstanding capital stock and ownership interests of the Subsidiaries; other than the capital stock and ownership interests of the Subsidiaries, the Company does not own, directly or indirectly, any shares of
stock or any other equity interests or long-term debt securities of any corporation, firm, partnership, joint venture, association or other entity; complete and correct copies of the charters, bylaws and operating agreements of the Company and the
Subsidiaries and all amendments thereto have been made available to you, and no changes therein will be made on or after the date hereof through and including the Closing Date; each of the Subsidiaries have been duly incorporated and are validly
existing as a corporation and are in good standing under the laws of the Commonwealth of Massachusetts and the laws of the State of Delaware, respectively, with full corporate power and authority to own, lease and operate its properties and to
conduct its business; each Subsidiary is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction where the ownership or leasing of its properties or the conduct of its business requires such qualification,
except where the failure to be so qualified and in good standing would not, individually or in the aggregate, have a Material Adverse Effect; all of the outstanding shares of capital stock and ownership interests of the Subsidiaries have been duly
authorized and validly issued, are fully paid and non-assessable, have been issued in compliance with all applicable securities laws, were not issued in violation of any preemptive right, resale right, right
of first refusal or similar right and are owned by the Company subject to no security interest, other encumbrance or adverse claims; and no options, warrants or other rights to purchase, agreements or other obligations to issue or other rights to
convert any obligation into shares of capital stock or ownership interests in the Subsidiaries are outstanding. 
 (f) The Shares have been
duly and validly authorized and, when issued and delivered against payment therefor as provided herein, will be duly and validly issued, fully paid and non-assessable and free of statutory and contractual
preemptive rights, rights of first refusal and similar rights; the Shares, when issued and delivered against payment therefor as provided herein, will be free of any restriction upon the voting thereof pursuant to the Delaware General Corporation
Law or the Company’s charter or bylaws or any agreement or other instrument to which the Company is a party. 

  
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 (g) This Agreement has been duly authorized, executed and delivered by the Company and
constitutes the lawful, valid and legally binding obligation of the Company, enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the rights of creditors generally and
general equitable principles. 
 (h) Neither the Company nor its subsidiaries are (i) in violation of its charter or by-laws or similar organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default, in the due performance or observance of any
term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or its subsidiaries are a party or by which the Company or its subsidiaries are bound or to which
any property or asset of the Company or its subsidiaries are subject; or (iii) in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case
of clauses (ii) and (iii) above, for any such default or violation that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(i) Neither the Company nor any of its Subsidiaries is and, after giving effect to the offering and sale of the Shares and the application of
the proceeds thereof as described in Section 5.4 of this Agreement, neither of them will be, an “investment company” or an entity “controlled” by an “investment company,” as such terms are
defined in the Investment Company Act. 
 (j) The execution, delivery and performance by the Company of this Agreement, the issuance and sale
of the Shares and the consummation of the transactions contemplated by this Agreement will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, result in the termination,
modification or acceleration of, or result in the creation or imposition of any lien, charge or encumbrance upon any property, right or asset of the Company or its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or
other agreement or instrument to which the Company or its subsidiaries are a party or by which the Company or its subsidiaries are bound or to which any property, right or asset of the Company or its subsidiaries are subject, (ii) result in any
violation of the provisions of the charter or by-laws or similar organizational documents of the Company or its subsidiaries or (iii) result in the violation of any law or statute or any judgment, order,
rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, default, lien, charge or encumbrance that would not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (k) No consent, approval, authorization,
order, registration or qualification of or with any court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Company of this Agreement, the issuance and sale of the Shares and the
consummation of the transactions contemplated by this Agreement, other than (i) any necessary qualification under the securities or blue sky laws of the various jurisdictions in which the Shares are being offered, (ii) any listing
applications and related consents or any notices required by Nasdaq in the ordinary course of the offering of the Shares, (iii) filings with the Commission under the Securities Act contemplated by this Agreement or (iv) filings with the
Commission on Form 8-K with respect to this Agreement. 

  
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 (l) (i) No person has any preemptive rights, resale rights, rights of first refusal or other
rights to purchase any shares of Common Stock or shares of any other capital stock of or other equity interests in the Company and (ii) no person has the right to act as an underwriter or as a financial advisor to the Company in connection with
the offer and sale of the Shares; no person has the right, contractual or otherwise, to cause the Company to register under the Securities Act any shares of Common Stock or shares of any other capital stock of or other equity interests in the
Company, or to include any such shares or interests in the Resale Registration Statement or the offering contemplated by this Agreement, except any such right that has been validly waived in writing as of the date of this Agreement, copies of such
waivers to have been made available to you; except pursuant to the Amended and Restated Investor Rights Agreement, dated November 8, 2018, among the Company and the investors listed therein, no person has the right, contractual or otherwise, to
cause the Company to register under the Securities Act any shares of Common Stock or shares of any other capital stock of or other equity interests in the Company, or to include any such shares or interests in any other offering of securities of the
Company. 
 (m) The Company and its subsidiaries possess all licenses, sub-licenses, certificates,
permits and other authorizations issued by, and have made all declarations and filings with, the appropriate federal, state, local or foreign governmental or regulatory authorities that are necessary for the ownership or lease of their respective
properties or the conduct of their respective businesses, except where the failure to possess or make the same would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and neither the Company nor its
subsidiaries have received written notice of any revocation or modification of any such license, sub-license, certificate, permit or authorization or has any reason to believe that any such license, sub-license, certificate, permit or authorization will not be renewed in the ordinary course, except where such revocation, modification, or non-renewal would not,
individually or in the aggregate, have a Material Adverse Effect. 
 (n) The Company’s Common Stock is registered under Section 12
of the Exchange Act. Since April 1, 2020, the Company has filed all SEC Reports on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of
their respective dates, the SEC Reports complied in all material respects with the requirements of the Exchange Act and, in each case, to the rules promulgated thereunder, as applicable, and none of the SEC Reports, when filed, contained any untrue
statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

(o) The financial statements (including the related notes thereto) of the Company and its subsidiaries included or incorporated by reference in
the SEC Reports comply in all material respects with the applicable requirements of the Securities Act and the Exchange Act, as applicable, and present fairly in all material respects the financial position of the Company and its subsidiaries as of
the dates indicated and the results of their operations and the changes in their cash flows for the periods specified; such financial statements have been prepared in conformity with generally accepted accounting principles
(“GAAP”) in the United States applied on a 

  
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consistent basis throughout the periods covered thereby, except in the case of unaudited financial statements, which are subject to normal year-end
adjustments and do not contain certain footnotes as permitted by the applicable rules of the Commission; and any supporting schedules included or incorporated by reference in the SEC Reports present fairly in all material respects the information
required to be stated therein; and the other financial information included or incorporated by reference in the SEC Reports has been derived from the accounting records of the Company and its subsidiaries and presents fairly in all material respects
the information shown thereby. 
 (p) Except as described in the SEC Reports, there are no legal, governmental or regulatory investigations,
actions, demands, claims, suits, arbitrations, inquiries or proceedings (“Actions”) pending to which the Company or its subsidiaries are or may reasonably be expected to become a party or to which any property of the Company
or its subsidiaries are or may reasonably be expected to become the subject that, individually or in the aggregate, if determined adversely to the Company or its subsidiaries, would reasonably be expected to have a Material Adverse Effect; to the
knowledge of the Company, no such Actions are threatened or contemplated by any governmental or regulatory authority or threatened by others; and (i) there are no current or pending Actions that are required under the Securities Act to be
described in the SEC Reports that are not so described in the SEC Reports and (ii) there are no statutes, regulations or contracts or other documents that are required under the Securities Act to be filed as exhibits to the SEC Reports that are
not so filed as exhibits to the SEC Reports or described in the SEC Reports. 
 (q) Deloitte & Touche LLP, who have certified
certain financial statements of the Company and its subsidiaries, is an independent registered public accounting firm with respect to the Company and its subsidiaries within the applicable rules and regulations adopted by the Commission and the
Public Company Accounting Oversight Board (United States) and as required by the Securities Act. 
 (r) With respect to the stock options
(the “Stock Options”) granted pursuant to the stock-based compensation plans of the Company and its subsidiaries (the “Company Stock Plans”), (i) each Stock Option intended to qualify as an
“incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), so qualifies, (ii) each grant of a Stock Option was duly authorized no later than the date on which
the grant of such Stock Option was by its terms to be effective by all necessary corporate action, including, as applicable, approval by the board of directors of the Company (or a duly constituted and authorized committee thereof) and any required
stockholder approval by the necessary number of votes or written consents, and the award agreement governing such grant (if any) was duly executed and delivered by each party thereto, (iii) each such grant was made in accordance with the terms
of the Company Stock Plans and all other applicable laws and regulatory rules or requirements, including the rules of Nasdaq and any other exchange on which Company securities are traded, and (iv) each such grant was properly accounted for in
accordance with GAAP in the financial statements (including the related notes) of the Company and disclosed in the Company’s filings with the Commission in accordance with the Exchange Act and all other applicable laws. Each Company Stock Plan
is accurately described in all material respects in the SEC Filings. The Company has not knowingly granted, and there is no and has been no policy or practice of the Company of granting, Stock Options prior to, or otherwise coordinating the grant of
Stock Options with, the release or other public announcement of material information regarding the Company or its subsidiaries or their results of operations or prospects. 

  
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 (s) Prior to the date of this Agreement, there has not been (i) any material adverse
change, or any development that would be reasonably expected to result in a material adverse change, in the business, properties, management, financial condition or results of operations of the Company and its Subsidiaries taken as a whole,
(ii) any transaction to which the Company is a party which is material to the Company and its Subsidiaries taken as a whole, (iii) any obligation or liability, direct or contingent (including any
off-balance sheet obligations), incurred by the Company or its Subsidiaries, which is material to the Company and its Subsidiaries taken as a whole, (iv) any change in the capital stock or outstanding
indebtedness of the Company or its Subsidiaries (other than the issuance of shares of Common Stock upon exercise of stock options or vesting of restricted stock units granted under Stock Plans in existence on the date hereof and the grant of awards
under Stock Plans in existence on the date hereof, in each case in the ordinary course of business) or (v) any dividend or distribution of any kind declared, paid or made on the capital stock of the Company. 

(t) The Company and its subsidiaries have good and marketable title in fee simple to, or have valid rights to lease or otherwise use, all items
of real and personal property that are material to the respective businesses of the Company and its subsidiaries, in each case free and clear of all liens, encumbrances, claims and defects and imperfections of title except those that (i) do not
materially interfere with the use made and proposed to be made of such property by the Company and its subsidiaries or (ii) would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

(u) Except as would not, individually or in the aggregate, have a Material Adverse Effect: (i) the Company and its subsidiaries own, have,
or can acquire on reasonable terms valid and enforceable rights to use all patents, trademarks, service marks, trade names, domain names and other source indicators, copyrights and copyrightable works,
know-how (including trade secrets and other unpatented or unpatentable proprietary or confidential information, systems or procedures) and all other similar intellectual property (including all registrations
and applications for registration of, and all goodwill associated with, the foregoing) (collectively, “Intellectual Property”) used in or necessary for the conduct of their respective businesses and as proposed to be
conducted; (ii) the Company is unaware of any facts which would form a reasonable basis for an action, suit, proceeding or claim asserting that the Company and its subsidiaries’ conduct of their respective businesses has infringed,
misappropriated or otherwise violated any Intellectual Property of any third party; (iii) the Company is unaware of any facts which would form a reasonable basis for an action, suit, proceeding or claim asserting that the Company or its
subsidiaries would, upon the commercialization of any product candidate, infringe, misappropriate or otherwise violate any Intellectual Property of any third party; (iv) the Company and its subsidiaries have not received any written notice and
are not otherwise aware of any pending or threatened claim alleging infringement, misappropriation or other violation of any Intellectual Property of any person, or challenging the validity, enforceability, scope or ownership of any Intellectual
Property owned by or exclusively licensed to the Company or its subsidiaries; (v) to the knowledge of the Company, no Intellectual Property owned by or exclusively licensed to the Company and its subsidiaries has been infringed, misappropriated
or otherwise violated by any person; (vi) to the knowledge of the Company, all Intellectual Property owned by or exclusively licensed to the Company and its subsidiaries is valid and enforceable; (vii) the Company and its subsidiaries have
taken reasonable steps in accordance with normal industry practice to maintain the confidentiality of all Intellectual Property, the value of which to the Company or its subsidiaries 

  
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is contingent upon maintaining the confidentiality thereof; and (viii) to the actual knowledge of the Company, the Company, its subsidiaries, and counsel for the Company, its subsidiaries or
any of their respective licensors, have complied with the duties of candor, good faith and disclosure, as required by the United States Patent and Trademark Office and all foreign offices having similar requirements, with respect to the prosecution
of the patents and patent applications owned by or exclusively licensed to the Company or its subsidiaries and for which such duty is owed. 

(v) No labor disturbance by or dispute with employees of the Company or its subsidiaries exists or, to the knowledge of the Company, is
contemplated or threatened, and the Company is not aware of any existing or imminent labor disturbance by, or dispute with, the employees of its or its subsidiaries’ principal suppliers, contractors or customers, except as would not reasonably
be expected to have a Material Adverse Effect. Neither the Company nor its subsidiaries have received any notice of cancellation or termination with respect to any collective bargaining agreement to which it is a party. 

(w) (i) The Company and its subsidiaries (x) are in compliance with all, and have not violated any, applicable federal, state, local and
foreign laws (including common law), rules, regulations, requirements, decisions, judgments, decrees, orders and other legally enforceable requirements relating to pollution or the protection of human health or safety, the environment, natural
resources, hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”); (y) have received and are in compliance with all, and have not violated any, permits, licenses, certificates
or other authorizations or approvals required of them under any Environmental Laws to conduct their respective businesses; and (z) have not received written notice of any actual or potential liability or obligation under or relating to, or any
actual or potential violation of, any Environmental Laws, including for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, and have no knowledge of any event or
condition that would reasonably be expected to result in any such notice; (ii) there are no costs or liabilities associated with Environmental Laws of or relating to the Company or its subsidiaries, except in the case of each of (i) and
(ii) above, for any such matter as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and (iii) except as described in the SEC Reports, (x) there is no proceeding that is pending, or that
is known by the Company to be contemplated, against the Company or its subsidiaries under any Environmental Laws in which a governmental entity is also a party, other than such proceeding regarding which the Company reasonably believes no monetary
sanctions of $100,000 or more will be imposed, (y) the Company and its subsidiaries are not aware of any facts or issues regarding compliance with Environmental Laws, or liabilities or other obligations under Environmental Laws or concerning
hazardous or toxic substances or wastes, pollutants or contaminants, that would reasonably be expected to have a material effect on the capital expenditures, earnings or competitive position of the Company and its subsidiaries, and (z) neither
the Company nor its subsidiaries anticipate material capital expenditures relating to any Environmental Laws. 
 (x) The Company and its
subsidiaries have paid all federal, state, local and foreign taxes and filed all tax returns required to be paid or filed through the date hereof, except for those taxes and tax returns whose failure to pay or file would not reasonably be expected
to have a Material Adverse Effect; and there is no tax deficiency that has been, or would reasonably be expected to be, asserted against the Company or its subsidiaries or any of their respective properties or assets that has had or would reasonably
be expected to have a Material Adverse Effect. 

  
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 (y) The Company and its subsidiaries have insurance covering their respective properties,
operations, personnel and businesses, including business interruption insurance, which insurance is in amounts and insures against such losses and risks as are generally maintained by similarly situated companies and which the Company believes are
reasonably adequate to protect the Company and its subsidiaries and their respective businesses; and neither the Company nor its subsidiaries have (i) received notice from any insurer or agent of such insurer that capital improvements or other
expenditures are required or necessary to be made in order to continue such insurance or (ii) any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar
coverage at reasonable cost from similar insurers as may be necessary to continue its business. 
 (z) The Company (i) does not have any
material lending or other relationship with any bank or lending affiliate of the Placement Agents and (ii) does not intend to use any of the proceeds from the sale of the Shares hereunder to repay any outstanding debt owed to any affiliate of
the Placement Agents. 
 (aa) Neither the Company nor its Subsidiaries has sent any communication or received any written communication
regarding termination of, or intent not to renew, any of the contracts or agreements referred to or described in the SEC Reports, and no such termination or non-renewal has been threatened by the Company or
its Subsidiaries or, to the Company’s knowledge, threatened in writing by any other party to any such contract or agreement. 
 (bb) The
Company and its subsidiaries maintain systems of “internal control over financial reporting” (as defined in Rule 13a-15(f) of the Exchange Act) that are designed to comply with the requirements of
the Exchange Act and have been designed by, or under the supervision of, their respective principal executive and principal financial officers, or persons performing similar functions, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external purposes in accordance with GAAP. The Company and its subsidiaries maintain internal accounting controls sufficient to provide reasonable assurance that
(i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset
accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and
appropriate action is taken with respect to any differences; and (v) interactive data in eXtensible Business Reporting Language included or incorporated by reference in the SEC Reports fairly presents the information called for in all material
respects and is prepared in accordance with the Commission’s rules and guidelines applicable thereto. Except as disclosed in the SEC Reports, there are no material weaknesses in the Company’s internal controls. The Company’s auditors
and the Audit Committee of the Board of Directors of the Company have been advised of: (i) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which have adversely
affected or are reasonably likely to adversely affect the Company’s ability to record, process, summarize and report financial information; and (ii) any fraud, whether or not material, that involves management or other employees who have a
significant role in the Company’s internal controls over financial reporting. 

  
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 (cc) The Company and its subsidiaries maintain an effective system of “disclosure
controls and procedures” (as defined in Rule 13a-15(e) of the Exchange Act) that complies with the requirements of the Exchange Act and that has been designed to ensure that information required to be
disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms, including controls and procedures
designed to ensure that such information is accumulated and communicated to the Company’s management as appropriate to allow timely decisions regarding required disclosure. The Company and its subsidiaries have carried out evaluations of the
effectiveness of their disclosure controls and procedures as required by Rule 13a-15 of the Exchange Act. 

(dd) Each “forward-looking statement” (within the meaning of Section 27A of the Securities Act or Section 21E of the
Exchange Act) contained or incorporated by reference in the SEC Reports has been made or reaffirmed with a reasonable basis and in good faith. 

(ee) All statistical or market-related data included in the SEC Reports are based on or derived from sources that the Company reasonably
believes to be reliable and accurate, and the Company has obtained the written consent to the use of such data from such sources to the extent required. 

(ff) Neither the Company nor its Subsidiaries nor, to the knowledge of the Company, any director, officer, agent, employee or affiliate of the
Company or its Subsidiaries has taken, directly or indirectly, without giving effect to activities by the Placement Agents, any action designed to or that would constitute or that might reasonably be expected to cause or result in, under the
Exchange Act or otherwise, stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares. 

(gg) Neither the Company nor its subsidiaries nor any director, officer or employee of the Company or its subsidiaries nor, to the knowledge of
the Company, any agent, affiliate or other person associated with or acting on behalf of the Company or its subsidiaries have (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to
political activity; (ii) made or taken an act in furtherance of an offer, promise or authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic government official or employee, including of any
government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office;
(iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended, or any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International
Business Transactions, or committed an offence under the Bribery Act 2010 of the United Kingdom or any other applicable anti-bribery or anti-corruption law; or (iv) made, offered, agreed, requested or taken an act in furtherance of any unlawful
bribe or other unlawful benefit, including, without limitation, any rebate, payoff, influence payment, kickback or other unlawful or improper payment or benefit. The Company and its subsidiaries have instituted, maintain and enforce, and will
continue to maintain and enforce policies and procedures designed to promote and ensure compliance with all applicable anti-bribery and anti-corruption laws. 

  
 11 

 (hh) The operations of the Company and its subsidiaries are and have been conducted at all
times in compliance with applicable financial recordkeeping and reporting requirements, including those of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the applicable money laundering statutes of all jurisdictions where
the Company or its subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines issued, administered or enforced by any governmental agency (collectively, the “Anti-Money
Laundering Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to
the knowledge of the Company, threatened. 
 (ii) Neither the Company nor its subsidiaries, directors, officers, or employees, nor, to the
knowledge of the Company, any agent, affiliate or other person associated with or acting on behalf of the Company or its subsidiaries is currently the subject or the target of any sanctions administered or enforced by the U.S. government,
(including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State and including, without limitation, the designation as a “specially designated national” or
“blocked person”), the United Nations Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority (collectively, “Sanctions”), nor are the Company or its subsidiaries
located, organized or resident in a country or territory that is the subject or target of Sanctions, including, without limitation, Crimea, Cuba, Iran, North Korea and Syria (each, a “Sanctioned Country”); and the Company
will not directly or indirectly use the proceeds of the offering of the Shares hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity (i) to fund or facilitate
any activities of or business with any person that, at the time of such funding or facilitation, is the subject or target of Sanctions, (ii) to fund or facilitate any activities of or business in any Sanctioned Country or (iii) in any
other manner that will result in a violation by any person (including any person participating in the transaction, whether as underwriter, advisor, investor or otherwise) of Sanctions. Since the Company’s inception, the Company and its
subsidiaries have not knowingly engaged in and are not now knowingly engaged in any dealings or transactions with any person that at the time of the dealing or transaction is or was the subject or the target of Sanctions or with any Sanctioned
Country. 
 (jj) The subsidiaries of the Company are not currently prohibited, directly or indirectly, under any agreement or other
instrument to which they are a party or are subject, from paying any dividends to the Company, from making any other distribution on such subsidiaries’ capital stock or similar ownership interest, from repaying to the Company any loans or
advances to such subsidiaries from the Company or from transferring any of such subsidiaries’ properties or assets to the Company or any other subsidiaries of the Company. 

(kk) (i) Except as described in the SEC Reports, the preclinical studies conducted by or, to the knowledge of the Company, on behalf of or
sponsored by the Company or its subsidiaries, or in which the Company or its subsidiaries have participated, that are described in the SEC Reports, or the results of which are referred to in the SEC Reports, as applicable, were, and if still

  
 12 

 
pending are, being conducted in all material respects in accordance with standard medical and scientific research standards and procedures for products or product candidates comparable to those
being developed by the Company and all applicable statutes and all applicable rules and regulations of the U.S. Food and Drug Administration and comparable regulatory agencies outside of the United States to which they are subject, including the
European Medicines Agency (collectively, the “Regulatory Authorities”), and applicable Good Laboratory Practice requirements; (ii) the descriptions in the SEC Reports of the results of such studies are accurate and
complete descriptions in all material respects and fairly present the data derived therefrom; (iii) the Company has no knowledge of any other studies not described in the SEC Reports, the results of which are materially inconsistent with or
call into question the results described or referred to in the SEC Reports; (iv) the Company and its subsidiaries have operated at all times and are currently in compliance with all applicable statutes, rules and regulations of the Regulatory
Authorities, except where such non-compliance would not, individually or in the aggregate, have a Material Adverse Effect; and (vi) neither the Company nor its subsidiaries have received any written
notices, correspondence or other communications from the Regulatory Authorities or any other governmental agency requiring or threatening the termination, material modification or suspension of any preclinical studies that are described in the SEC
Reports or the results of which are referred to in the SEC Reports, other than ordinary course communications with respect to modifications in connection with the design and implementation of such studies or trials, and, to the Company’s
knowledge, there are no reasonable grounds for the same. 
 (ll) The Company has not failed to file with the Regulatory Authorities any
material filing, declaration, listing, registration, report or submission with respect to the Company’s product candidates that are described or referred to in the SEC Filings; all such filings, declarations, listings, registrations, reports or
submissions, as applicable, were in material compliance with applicable laws when filed; and no material deficiencies regarding compliance with applicable law have been asserted by any applicable regulatory authority with respect to any such
filings, declarations, listings, registrations, reports or submissions. 
 (mm) The Company has not received any notice from the Nasdaq
Global Select Market regarding the delisting of the Common Stock. The Company is in material compliance with all listing and maintenance requirements of Nasdaq on the date hereof. 

(nn) To the Company’s knowledge, the Company is not now and has never been a “United States real property holding corporation”
as defined in the Code and any applicable regulations promulgated thereunder. The Company has filed with the Internal Revenue Service all statements, if any, with its United States income tax returns which are required under such regulations. 

(oo) Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2 of this Agreement, no
registration under the Securities Act is required for the offer and sale of the Shares by the Company to the Purchasers hereunder. The issuance and sale of the Shares hereunder does not contravene the rules and regulations of Nasdaq. 

  
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 3.2 Representations, Warranties and Covenants of the Purchasers. Each
Purchaser, for itself and for no other Purchaser, hereby represents, warrants and covenants to the Company and the Placement Agents as of the Closing: 

(a) Such Purchaser has all requisite legal and corporate or other power and capacity and has taken all requisite corporate or other
action to execute and deliver this Agreement, to purchase the Shares and to carry out and perform all of its obligations under this Agreement; and (b) this Agreement constitutes the legal, valid and binding obligation of such Purchaser,
enforceable against such Purchaser in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement of creditors’ rights generally and
(ii) as limited by equitable principles generally. 
 (b) At the time such Purchaser was offered the Shares, it was, and as of
the date hereof it is, (i) either: (A) an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act, or (B) a “qualified institutional buyer” as defined in Rule
144A(a) under the Securities Act, (ii) an Institutional Account as defined in Financial Industry Regulatory Authority Rule 4512(c), and (iii) a sophisticated institutional investor, experienced in investing in private equity transactions
and capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities, including such Purchaser’s participation in the transactions
contemplated by this Agreement. Such Purchaser has determined based on its own independent review and such professional advice as it deems appropriate that its purchase of the Shares and participation in the transactions contemplated by this
Agreement (i) are fully consistent with its financial needs, objectives and condition, (ii) comply and are fully consistent with all investment policies, guidelines and other restrictions applicable to it, (iii) have been duly
authorized and approved by all necessary action, (iv) do not and will not violate or constitute a default under its charter, by-laws or other constituent document or under any law, rule, regulation,
agreement or other obligation by which it is bound and (v) are a fit, proper and suitable investment for such Purchaser, notwithstanding the substantial risks inherent in investing in or holding the Shares. Such Purchaser is able to bear the
substantial risks associated with its purchase of the Shares, including but not limited to loss of its entire investment therein. 

(c) Such Purchaser has (i) received, reviewed and understood the offering materials made available to it in connection with the
transactions contemplated by this Agreement, (ii) had the opportunity to ask questions of and receive answers from the Company directly and (iii) conducted and completed its own independent due diligence with respect to the transactions
contemplated by this Agreement. Based on such information as such Purchaser has deemed appropriate and without reliance upon the Placement Agents, such Purchaser has independently made its own analysis and decision to purchase the Shares. Except for
the representations, warranties and agreements of the Company expressly set forth in this Agreement, such Purchaser is relying exclusively on its own sources of information, investment analysis and due diligence (including professional advice it
deems appropriate) with respect to the transactions contemplated by this agreement, the Shares and the business, condition (financial and otherwise), management, operations, properties and prospects of the Company, including but not limited to all
business, legal, regulatory, accounting, credit and tax matters. 

  
 14 

 (d) Such Purchaser is acquiring its entire beneficial ownership interest in the
Shares for its own account for investment purposes only and not with a view to any distribution of the Share in any manner that would violate the securities laws of the United States or any other jurisdiction. Such Purchaser understands that the
Shares have not been registered under the securities laws of the United States or any other jurisdiction and that the Securities may not be resold or transferred in the United States or otherwise except in compliance with applicable law and the
restrictions on transfer set forth in the definitive documentation for the Transaction. 
 (e) Such Purchaser understands that the
Shares being offered and sold to it in reliance on specific exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and such
Purchaser’s compliance with, the representations, warranties, agreements, acknowledgements and understandings of such Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of such Purchaser to
acquire the Shares. Such Purchaser further acknowledges and understands that the Shares may not be resold or otherwise transferred except in a transaction registered under the Securities Act or unless an exemption from such registration is
available. 
 (f) Dispositions. 

(i) Such Purchaser will not, prior to the effectiveness of the Resale Registration Statement (as defined below), if then prohibited by
law or regulation other than pursuant to an available exemption under the Securities Act, sell, offer to sell, solicit offers to buy, dispose of, loan, pledge or grant any right with respect to the Shares. 

(ii) As of the Closing Date, such Purchaser has not directly or indirectly, nor has any person acting on behalf of or pursuant to any
understanding with such Purchaser, engaged in any purchases or sales of the Company’s securities (including, without limitation, any Short Sales involving the Company’s securities) since the time that such Purchaser was first contacted by
the Company, the Placement Agents or any other person regarding the transactions contemplated hereby. Such Purchaser covenants that neither it nor any person acting on its behalf or pursuant to any understanding with it will engage in any purchases
or sales of the Company’s securities (including, without limitation, any Short Sales involving the Company’s securities) prior to the time that the transactions contemplated by this Agreement are publicly disclosed. 

(g) Such Purchaser has independently evaluated the merits of its decision to purchase Shares pursuant to this Agreement. Such Purchaser
understands that nothing in this Agreement or any other materials presented to such Purchaser in connection with the purchase and sale of the Shares constitutes legal, tax or investment advice. 

(h) Such Purchaser will hold in confidence all information concerning this Agreement and the sale and issuance of the Shares until the
Company has made a public announcement concerning this Agreement and the sale and issuance of the Shares, which shall be made not later than 9:00 am New York time on the Trading Day immediately after the signing of this Agreement. 

  
 15 

 (i) Purchaser understands that no United States federal or state agency or any other
government or governmental agency has passed upon or made any recommendation or endorsement of the Shares. 
 (j) Legend. 

(i) Such Purchaser understands that the Shares shall bear a restrictive legend in substantially the following form (and a stop transfer
order may be placed against transfer of the certificates for the Shares): 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR IN ANY OTHER JURISDICTION. THE SECURITIES REPRESENTED HEREBY MAY NOT BE OFFERED, SOLD OR TRANSFERRED IN THE ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER APPLICABLE SECURITIES LAWS UNLESS OFFERED, SOLD OR TRANSFERRED PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THOSE LAWS.” 

(ii) The Company shall, at its sole expense, upon appropriate notice from any Purchaser stating that Registrable Shares have been sold
pursuant to an effective Registration Statement, timely prepare and deliver certificates or book-entry shares representing the Shares to be delivered to a transferee pursuant to the Registration Statement, which certificates or book-entry shares
shall be free of any restrictive legends and in such denominations and registered in such names as such Purchaser may request. Further, the Company shall, at its sole expense, cause its legal counsel or other counsel satisfactory to the transfer
agent: (i) while the Registration Statement is effective, to issue to the transfer agent a “blanket” legal opinion to allow (A) the legend on the Shares to be removed, or (B) sales without restriction pursuant to the
effective Registration Statement, and (ii) provide all other opinions as may reasonably be required by the transfer agent in connection with the removal of legends. A Purchaser may request that the Company remove, and the Company agrees to
authorize the removal of, any legend from such Shares, following the delivery by a Purchaser to the Company or the Company’s transfer agent of a legended certificate representing such Shares: (i) following any sale of such Shares pursuant
to Rule 144, (ii) if such Shares are eligible for sale under Rule 144(b)(1), or (iii) following the time that the Registration Statement is declared effective. If a legend removal request is made pursuant to the foregoing, the Company will, no
later than three Trading Days following the delivery by a Purchaser to the Company or the Company’s transfer agent of a legended certificate representing such Shares (or a request for legend removal, in the case of Shares issued in book-entry
form), deliver or cause to be delivered to such Purchaser a certificate representing such Shares that is free from all restrictive legends or an equivalent book-entry position, as requested by the Purchaser. Certificates for Shares free from all
restrictive legends may be transmitted by the Company’s transfer agent to the Purchasers by crediting the account of the Purchaser’s prime broker with the Depository Trust Company (“DTC”) as directed by such
Purchaser. The Company warrants that the Shares shall otherwise be freely transferable on the books and records of the Company as and to the extent provided in this Agreement. If a Purchaser effects a transfer of the Shares in

  
 16 

 
accordance with Section 3.2(j)(ii), the Company shall permit the transfer and shall promptly instruct its transfer agent to issue one or more certificates or credit
shares to the applicable balance accounts at DTC in such name and in such denominations as specified by such Purchaser to effect such transfer. Such Purchaser hereby agrees that the removal of the restrictive legend pursuant to this
Section 3.2(j)(ii) is predicated upon the Company’s reliance that such Purchaser will sell any such Shares pursuant to either the registration requirements of the Securities Act, including any applicable prospectus
delivery requirements, or an exemption therefrom. 
 (k) Immediately prior to the Closing, such Purchaser, together with its
affiliates and any other persons acting as a group together with such Purchaser and any of its affiliates, beneficially owned the number of shares of Common Stock set forth on such Purchaser’s signature page attached hereto (as such ownership
is calculated pursuant to the rules of Nasdaq). 
 (l) If such Purchaser is not a United States person (as defined by
Section 7701(a)(30) of the Code), such Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Shares or any use of this
Agreement, including (a) the legal requirements within its jurisdiction for the purchase of the Shares, (b) any foreign exchange restrictions applicable to such purchase or acquisition, (c) any government or other consents that may
need to be obtained, and (d) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Shares. Such Purchaser’s subscription and payment for and continued
beneficial ownership of the Shares will not violate any applicable securities or other laws of such Purchaser’s jurisdiction. 

(m) Acknowledgements Regarding Placement Agents by each Purchaser. Such Purchaser acknowledges that (a) each Placement Agent
is acting solely as the Company’s placement agent in connection with the transactions contemplated by this Agreement and is not acting as an underwriter or in any other capacity and is not and will not be construed as a fiduciary for such
Purchaser, the Company or any other person or entity in connection with the transactions contemplated by this Agreement, (b) the Placement Agents have not made and will not make any representation or warranty, whether express or implied, of any
kind or character and has not provided any advice or recommendation in connection with the transactions contemplated by this Agreement, (c) the Placement Agents will have no responsibility with respect to (i) any representations,
warranties or agreements made by any person or entity under or in connection with the transactions contemplated by this Agreement or any of the documents furnished pursuant thereto or in connection therewith, or the execution, legality, validity or
enforceability (with respect to any person) or any thereof, or (ii) the business, affairs, financial condition, operations, properties or prospects of, or any other matter concerning the Company or the transactions contemplated by this
Agreement, and (d) the Placement Agents shall have no liability or obligation (including without limitation, for or with respect to any losses, claims, damages, obligations, penalties, judgments, awards, liabilities, costs, expenses or
disbursements incurred by you, the Company or any other person or entity), whether in contract, tort or otherwise, to such Purchaser, or to any person claiming through such Purchaser, in respect of the transactions contemplated by this Agreement.

  
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	4.	 REGISTRATION RIGHTS 

4.1 Definitions. For the purpose of this Section 4: 

(a) the term “Resale Registration Statement” shall mean any registration statement required to be filed by
Section 4.2 below, and shall include any preliminary prospectus, final prospectus, exhibit or amendment included in or relating to such registration statements; and 

(b) the term “Registrable Shares” means the Shares; provided, however, that a security shall cease to be
a Registrable Share upon the earliest to occur of the following: (i) a Resale Registration Statement registering such security under the Securities Act has been declared or becomes effective and such security has been sold or otherwise
transferred by the holder thereof pursuant to and in a manner contemplated by such effective Resale Registration Statement, (ii) such security is sold pursuant to Rule 144 under circumstances in which any legend borne by such security relating
to restrictions on transferability thereof, under the Security Act or otherwise, is removed by the Company, (iii) such security is eligible to be sold pursuant to Rule 144 without condition or restriction, including without any limitation as to
volume of sales, and without the Holder complying with any method of sale requirements or notice requirements under Rule 144, or (iv) such security shall cease to be outstanding following its issuance. 

4.2 Registration Procedures and Expenses. The Company shall: 

(a) file a Resale Registration Statement (the “Mandatory Registration Statement”) with the Commission on or
before April 1, 2021 (the “Filing Date”) to register all of the Registrable Shares on Form S-3 under the Securities Act (providing for shelf registration of such Registrable Shares
under Commission Rule 415). In the event that Form S-3 is not available for the registration of the Registrable Shares, the Company shall register the resale of the Registrable Shares on such other form as is
available to the Company; 
 (b) use its commercially reasonable efforts to cause such Mandatory Registration Statement to be declared
effective as soon as practicable and in any event within the earlier of: (i) 30 days following the Filing Date and (ii) four business days after the date the Company receives written notification from the Commission that the Mandatory
Registration Statement will not be reviewed (or, in the event the Staff reviews and has written comments to the Mandatory Registration Statement, within 90 days following the Filing Date) (the earlier of the foregoing or the applicable date set
forth in Section 4.2(i), the “Effectiveness Deadline”), such efforts to include, without limiting the generality of the foregoing, preparing and filing with the Commission any financial statements or
other information that is required to be filed prior to the effectiveness of such Mandatory Registration Statement; 
 (c)
notwithstanding anything contained in this Agreement to the contrary, in the event that the Commission limits the amount of Registrable Shares or otherwise requires a reduction in the number of Registrable Shares that may be included and sold by the
Purchasers in the Mandatory Registration Statement (in each case, subject to Section 4.3), then the Company shall prepare and file (i) within 10 Trading Days of the first date or time that such excluded Registrable
Shares may then be included in a Resale Registration Statement if the Commission shall have notified the Company that certain Registrable Shares were not eligible for inclusion in the Resale Registration Statement or (ii) in all other cases,
within 20 days following the date that the Company becomes aware that such additional Resale Registration Statement is required (the “Additional Filing Date”), a Resale Registration Statement (any such Resale Registration

  
 18 

 
Statement registering such excluded Registrable Shares, an “Additional Registration Statement” and, together with the Mandatory Registration Statement, a
“Resale Registration Statement”) to register any Registrable Shares that have been excluded (or, if applicable, the maximum number of such excluded Registrable Shares that the Company is permitted to register for resale on
such Additional Registration Statement consistent with Commission guidance), if any, from being registered on the Mandatory Registration Statement; 

(d) not less than two (2) Trading Days prior to the filing of a Registration Statement or any related prospectus or any amendment
or supplement thereto, furnish via email to those Purchasers who have supplied the Company with email addresses copies of all such documents proposed to be filed, which documents (other than any document that is incorporated or deemed to be
incorporated by reference therein) will be subject to the review of such Purchasers. The Company shall reflect in each such document when so filed with the Commission such comments regarding the Purchasers and the plan of distribution as the
Purchasers may reasonably and promptly propose no later than two (2) Trading Days after the Purchasers have been so furnished with copies of such documents as aforesaid. 

(e) use its commercially reasonable efforts to cause any such Additional Registration Statement to be declared effective as promptly as
practicable following the Additional Filing Date, such efforts to include, without limiting the generality of the foregoing, preparing and filing with the Commission any financial statements or other information that is required to be filed prior to
the effectiveness of any such Additional Registration Statement; 
 (f) promptly prepare and file with the Commission such amendments
and supplements to such Resale Registration Statements and the prospectus used in connection therewith as may be necessary to keep such Resale Registration Statements continuously effective and free from any material misstatement or omission to
state a material fact therein until termination of such obligation as provided in Section 4.7 below, subject to the Company’s right to suspend pursuant to Section 4.6; 

(g) furnish to the Purchasers such number of copies of prospectuses in conformity with the requirements of the Securities Act and such
other documents as the Purchasers may reasonably request, in order to facilitate the public sale or other disposition of all or any of the Registrable Shares by the Purchasers; 

(h) file such documents as may be required of the Company for normal securities law clearance for the resale of the Registrable Shares
in such states of the United States as may be reasonably requested by the Purchasers and use its commercially reasonable efforts to maintain such blue sky qualifications during the period the Company is required to maintain effectiveness of the
Resale Registration Statements; provided, however, that the Company shall not be required in connection with this Section 4.2(h) to qualify as a foreign corporation or execute a general consent to service of process
in any jurisdiction in which it is not now so qualified or has not so consented; 
 (i) upon notification by the Commission that the
Resale Registration Statement will not be reviewed or is not subject to further review by the Commission, the Company shall within three Trading Days following the date of such notification request acceleration of such Resale Registration Statement
(with the requested effectiveness date to be not more than two Trading Days later); 

  
 19 

 (j) upon notification by the Commission that that the Resale Registration Statement
has been declared effective by the Commission, the Company shall file the final prospectus under Rule 424 of the Securities Act (“Rule 424”) within the applicable time period prescribed by Rule 424; 

(k) advise the Purchasers promptly (and in any event within two (2) Trading Days thereof): 

(i) of the effectiveness of the Resale Registration Statement or any post-effective amendments thereto; 

(ii) of any request by the Commission for amendments to the Resale Registration Statement or amendments to the prospectus or for
additional information relating thereto; 
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of
the Resale Registration Statement under the Securities Act or of the suspension by any state securities commission of the qualification of the Registrable Shares for offering or sale in any jurisdiction, or the initiation of any proceeding for any
of the preceding purposes; and 
 (iv) of the existence of any fact and the happening of any event that makes any statement of a
material fact made in the Resale Registration Statement, the prospectus and amendment or supplement thereto, or any document incorporated by reference therein, untrue, or that requires the making of any additions to or changes in the Resale
Registration Statement or the prospectus in order to make the statements therein not misleading; 
 (l) cause all Registrable Shares
to be listed on each securities exchange, if any, on which equity securities by the Company are then listed; 
 (m) bear all expenses
in connection with the procedures in paragraphs (a) through (l) of this Section 4.2 and the registration of the Registrable Shares on such Resale Registration Statement and the satisfaction of the blue sky laws of such
states; and 
 (n) not, from the date hereof until the effective date of the Mandatory Registration Statement, prepare and file with
the Commission a registration statement relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities, other than any registration statement or post-effective amendment to a
registration statement (or supplement thereto) related to the Company’s employee benefit plans registered on Form S-8). 

4.3 Effect of Failure to File and Obtain and Maintain Effectiveness of Registration Statement. If a Registration Statement
covering all of the Registrable Shares required to be covered thereby and required to be filed by the Company pursuant to this Agreement is not filed with the Commission on or before the applicable filing deadline provided herein (the
“Filing Failure”), then, as partial relief for the damages to any holder by reason of any such delay in or 

  
 20 

 
reduction of its ability to sell the underlying shares of Common Stock (which remedy shall not be exclusive of any other remedies available at law or in equity), the Company shall pay to each
holder of Registrable Shares relating to such Resale Registration Statement an amount in cash equal to one percent (1.0%) of the aggregate purchase price of such Purchaser’s Registrable Shares whether or not included in such Resale Registration
Statement on the day of the Filing Failure. The payments to which a holder shall be entitled pursuant to this Section 4.3 are referred to herein as “Filing Failure Payments.” The Filing Failure Payments
shall be paid on the earlier of (I) the date set forth above and (II) the third Trading Day after the event or failure giving rise to the Filing Failure Payment is cured. 

4.4 Rule 415; Cutback. 
 If
at any time the staff of the Commission (“Staff”) takes the position that the offering of some or all of the Registrable Shares in a Registration Statement is not eligible to be made on a delayed or continuous basis under the
provisions of Rule 415 under the Securities Act or requires any Purchaser to be named as an “underwriter,” the Company shall (in consultation with legal counsel to the lead Purchaser) use its commercially reasonable efforts to persuade the
Commission that the offering contemplated by the Registration Statement is a valid secondary offering and not an offering “by or on behalf of the issuer” as defined in Rule 415 and that none of the Purchasers is an “underwriter.”
In the event that, despite the Company’s commercially reasonable efforts and compliance with the terms of this Section 4.4, the Staff refuses to alter its position, the Company shall (i) remove from the
Registration Statement such portion of the Registrable Shares (the “Cut Back Shares”) and/or (ii) agree to such restrictions and limitations on the registration and resale of the Registrable Shares as the Staff may
require to assure the Company’s compliance with the requirements of Rule 415 (collectively, the “SEC Restrictions”); provided, however, that the Company shall not agree to name any Purchaser as an “underwriter”
in such Registration Statement without the prior written consent of such Purchaser. Any cutback imposed on the Purchasers pursuant to this Section 4.4 shall be allocated among the Purchasers on a pro rata basis, unless the
SEC Restrictions otherwise require or provide or the Purchasers holding a majority of the Registrable Shares otherwise agree. No liquidated damages shall accrue as to any Cut Back Shares until such date as the Company is able to effect the
registration of such Cut Back Shares in accordance with any SEC Restrictions (such date, the “Restriction Termination Date” of such Cut Back Shares). From and after the Restriction Termination Date applicable to any Cut Back
Shares, all of the provisions of this Section 4 shall again be applicable to such Cut Back Shares; provided, however, that (x) the Filing Deadline for the Registration Statement including such Cut Back Shares shall be
10 Trading Days after such Restriction Termination Date, and (y) the Effectiveness Deadline with respect to such Cut Back Shares shall be the 90th day immediately after the Restriction
Termination Date or the 120th day if the Staff reviews such Registration Statement (but in any event no later than three Trading Days from the Staff indicating it has no further comments on such
Registration Statement). 
 4.5 Indemnification. 

(a) The Company agrees to indemnify and hold harmless each Purchaser and its affiliates, partners, members, officers, directors, agents
and representatives, and each person, if any, who controls such Purchaser within the meaning of Section 15 of the Securities Act or Section 20 the Exchange Act (each, a “Purchaser Party” and collectively the
“Purchaser Parties”), to the 

  
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fullest extent permitted by applicable law, from and against any losses, claims, damages or liabilities (collectively, “Losses”) to which they may become subject (under
the Securities Act or otherwise) insofar as such Losses (or actions or proceedings in respect thereof) arise out of, or are based upon, any material breach of this Agreement by the Company or any untrue statement or alleged untrue statement of a
material fact contained in the Resale Registration Statement or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which
they were made, not misleading or arise out of any failure by the Company to fulfill any undertaking included in the Resale Registration Statement and the Company will, as incurred, reimburse the Purchaser Parties for any legal or other expenses
reasonably incurred in investigating, defending or preparing to defend any such action, proceeding or claim; provided, however, that the Company shall not be liable in any such case to the extent that such Loss arises out of, or is based
upon: (i) an untrue statement or omission or alleged untrue statement or omission made in such Resale Registration Statement in reliance upon and in conformity with written information furnished to the Company by or on behalf of such Purchaser
specifically for use in preparation of the Resale Registration Statement; or (ii) any breach of this Agreement by such Purchaser; provided further, however, that the Company shall not be liable to any Purchaser Party (or any partner,
member, officer, director or controlling person of the Purchasers) to the extent that any such Loss is caused by an untrue statement or omission or alleged untrue statement or omission made in any preliminary prospectus if either (i) (A) such
Purchaser failed to send or deliver a copy of the final prospectus with or prior to, or such Purchaser failed to confirm that a final prospectus was deemed to be delivered prior to (in accordance with Rule 172 of the Securities Act), the delivery of
written confirmation of the sale by such Purchaser to the person asserting the claim from which such Loss resulted and (B) the final prospectus corrected such untrue statement or omission, (ii) (X) such untrue statement or omission is
corrected in an amendment or supplement to the prospectus and (Y) having previously been furnished by or on behalf of the Company with copies of the prospectus as so amended or supplemented or notified by the Company that such amended or
supplemented prospectus has been filed with the Commission, in accordance with Rule 172 of the Securities Act, such Purchaser thereafter fails to deliver such prospectus as so amended or supplemented, with or prior to or a Purchaser fails to confirm
that the prospectus as so amended or supplemented was deemed to be delivered prior to (in accordance with Rule 172 of the Securities Act), the delivery of written confirmation of the sale by such Purchaser to the person asserting the claim from
which such Loss resulted or (iii) such Purchaser sold Registrable Shares in violation of such Purchasers’ covenants contained in Section 3.2 of this Agreement. 

(b) Each Purchaser agrees, severally and not jointly, to indemnify and hold harmless the Company and its officers, directors,
affiliates, agents and representatives and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (each a “Company Party”
and collectively the “Company Parties”), from and against any Losses to which the Company Parties may become subject (under the Securities Act or otherwise), insofar as such Losses(or actions or proceedings in
respect thereof) arise out of, or are based upon, any material breach of this Agreement by such Purchaser or untrue statement or alleged untrue statement of a material fact contained in the Resale Registration Statement (or any omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading in each case, on the effective date thereof), if, and only
to the extent, such untrue statement or omission or alleged untrue statement 

  
 22 

 
or omission was made in reliance upon and in conformity with written information furnished by or on behalf of such Purchaser specifically for use in preparation of the Resale Registration
Statement, and each Purchaser, severally and not jointly, will reimburse each Company Party for any legal or other expenses reasonably incurred in investigating, defending or preparing to defend any such action, proceeding or claim; provided,
however, that in no event shall any indemnity under this Section 4.5(b) be greater in amount than the dollar amount of the net proceeds received by such Purchaser upon its sale of the Registrable Shares included in the
Registration Statement giving rise to such indemnification obligation. 
 (c) Promptly after receipt by any indemnified person of a
notice of a claim or the beginning of any action in respect of which indemnity is to be sought against an indemnifying person pursuant to this Section 4.5, such indemnified person shall notify the indemnifying person in
writing of such claim or of the commencement of such action, and, subject to the provisions hereinafter stated, in case any such action shall be brought against an indemnified person and such indemnifying person shall have been notified thereof,
such indemnifying person shall be entitled to participate therein, and, to the extent that it shall wish, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified person. After notice from the indemnifying person to
such indemnified person of its election to assume the defense thereof, such indemnifying person shall not be liable to such indemnified person for any legal expenses subsequently incurred by such indemnified person in connection with the defense
thereof; provided, however, that if there exists or shall exist a conflict of interest that would make it inappropriate in the reasonable judgment of the indemnified person for the same counsel to represent both the indemnified person and
such indemnifying person or any affiliate or associate thereof, the indemnified person shall be entitled to retain its own counsel at the expense of such indemnifying person; provided, further, that no indemnifying person shall be responsible for
the fees and expense of more than one separate counsel for all indemnified parties. The indemnifying party shall not settle an action without the consent of the indemnified party, which consent shall not be unreasonably withheld. 

(d) If after proper notice of a claim or the commencement of any action against the indemnified party, the indemnifying party does not
choose to participate, then the indemnified party shall assume the defense thereof and upon written notice by the indemnified party requesting advance payment of a stated amount for its reasonable defense costs and expenses, the indemnifying party
shall advance payment for such reasonable defense costs and expenses (the “Advance Indemnification Payment”) to the indemnified party. In the event that the indemnified party’s actual defense costs and expenses exceed
the amount of the Advance Indemnification Payment, then upon written request by the indemnified party, the indemnifying party shall reimburse the indemnified party for such difference; in the event that the Advance Indemnification Payment exceeds
the indemnified party’s actual costs and expenses, the indemnified party shall promptly remit payment of such difference to the indemnifying party. 

(e) If the indemnification provided for in this Section 4.5 is held by a court of competent jurisdiction to be
unavailable to an indemnified party with respect to any losses, claims, damages or liabilities referred to herein, the indemnifying party, in lieu of indemnifying such indemnified party thereunder, shall to the extent permitted by applicable law
contribute to the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the
indemnified party on the other, as well as any other relevant equitable considerations; provided, that in no event shall any contribution by an indemnifying party hereunder be greater in amount than the dollar amount of the proceeds received by such
indemnifying party upon the sale of such Registrable Shares. 

  
 23 

 4.6 Prospectus Suspension. Each Purchaser acknowledges that there may be times
when the Company must suspend the use of the prospectus forming a part of the Resale Registration Statement until such time as an amendment to the Resale Registration Statement has been filed by the Company and declared effective by the Commission,
or until such time as the Company has filed an appropriate report with the Commission pursuant to the Exchange Act. Each Purchaser hereby covenants that it will not sell any Registrable Shares pursuant to said prospectus during the period commencing
at the time at which the Company gives the Purchasers notice of the suspension of the use of said prospectus and ending at the time the Company gives the Purchasers notice that the Purchasers may thereafter effect sales pursuant to said prospectus;
provided, that such suspension periods shall in no event exceed 30 days in any 12 month period and that, in the good faith judgment of the Company’s board of directors, the Company would, in the absence of such delay or suspension hereunder, be
required under state or federal securities laws to disclose any corporate development, a potentially significant transaction or event involving the Company, or any negotiations, discussions, or proposals directly relating thereto, in either case the
disclosure of which would reasonably be expected to have a material adverse effect upon the Company or its stockholders. 
 4.7
Termination of Obligations. The obligations of the Company pursuant to Section 4.2 hereof shall cease and terminate, with respect to any Registrable Shares, upon the earlier to occur of (a) such time such
Registrable Shares have been resold, or (b) such time as such Registrable Shares no longer remain Registrable Shares pursuant to Section 4.1(b) hereof. 

4.8 Reporting Requirements. 

(a) With a view to making available the benefits of certain rules and regulations of the Commission that may at any time permit the sale
of the Shares to the public without registration or pursuant to a registration statement on Form S-3, the Company agrees to use: 

(i) make and keep public information available, as those terms are understood and defined in Rule 144; 

(ii) file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and
the Exchange Act; and 
 (iii) so long as a Purchaser owns Registrable Shares, to furnish to such Purchaser upon request (A) a
written statement by the Company as to whether it is in compliance with the reporting requirements of Rule 144, the Securities Act and the Exchange Act, or whether it is qualified as a registrant whose securities may be resold pursuant to Commission
Form S-3, (B) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company and (C) such other information as may be reasonably requested
to permit the Purchaser to sell such securities pursuant to Rule 144. 

  
 24 

 4.9 Blue Sky. The Company shall obtain and maintain all necessary blue sky law
permits and qualifications, or secured exemptions therefrom, required by any state for the offer and sale of Registrable Shares. 
  

	5.	 OTHER AGREEMENTS OF THE PARTIES 

5.1 Integration. Except as contemplated by the terms of this Agreement, the Company shall not sell, offer for sale or solicit
offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Shares such that the rules of Nasdaq would require shareholder approval of
this transaction prior to the closing of such other transaction unless shareholder approval is obtained before the closing of such subsequent transaction. 

5.2 Securities Laws Disclosure; Publicity. The Company shall: (a) issue a press release not later than 9:00 am New York time
on the Trading Day immediately after the signing of this Agreement disclosing the material terms of the transactions contemplated hereby which shall have been previously reviewed by counsel for the Placement Agents (the “Press
Release”), and (b) by 5:30 p.m. (New York City time) on the fourth Trading Day following the date hereof, file a Current Report on Form 8-K disclosing the material terms of the transactions
contemplated hereby which shall have been previously reviewed by counsel for the Placement Agents, and which may include as an exhibit thereto only a form of this Agreement (which will not reference any specific Purchaser therein) (the
“Form 8-K”). From and after the issuance of the Press Release, no Purchaser shall be in possession of any material, non-public information
received from the Company or any of their respective officers, directors or employees that is not disclosed in the Press Release, other than such Purchasers who have consented to the receipt of material,
non-public information and agreed with the Company to keep such information confidential. Subject to the foregoing, neither the Company nor any Purchaser shall issue any press releases or any other public
statements with respect to the transactions contemplated hereby except as may be reviewed and approved by the Company and counsel to the Placement Agents; provided, however, that the Company shall be entitled, without the prior
approval of any Purchaser, to make any press release or other public disclosure with respect to the transactions contemplated hereby, provided that the Company shall not publicly disclose the name of any Purchaser or an affiliate of any Purchaser
except as otherwise required by applicable law and regulations. Notwithstanding the foregoing, and unless required by law or the rules and regulations of the Commission or otherwise agreed to in writing by the Company and the applicable Purchaser,
the Company shall not publicly disclose the name of such Purchaser or an affiliate of such Purchaser, or include the name of such Purchaser or an affiliate of such Purchaser in any press release or filing with the Commission or any regulatory agency
or the Nasdaq, without the prior written consent of such Purchaser. 
 5.3 Non-Public
Information. Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, the Company covenants and agrees that neither it, nor any other Person acting on its behalf will provide any
Purchaser or its agents or counsel with any information that constitutes, or the Company reasonably believes constitutes, material non-public information, unless prior thereto such Purchaser shall have
consented to the receipt of such information and agreed with the Company to keep such information confidential. 

  
 25 

 5.4 Use of Proceeds. The Company will use the proceeds from the offering to
continue clinical development, to pursue strategic partnerships and general corporate purposes. 
 5.5 Reservation of Common
Stock. As of the date hereof, the Company has reserved and the Company shall continue to reserve and keep available at all times, free of preemptive rights, a sufficient number of shares of Common Stock for the purpose of enabling the Company to
issue the Shares. 
 5.6 Clear Market. For a period of 30 days after the Closing Date (the “Restricted
Period”), the Company will not (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer
or dispose of, directly or indirectly, or submit to, or file with, the Commission a registration statement under the Securities Act relating to, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common
Stock, or publicly disclose the intention to undertake any of the foregoing, or (ii) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of Common Stock or such other
securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise, without the prior written consent of the Placement Agents, other than
(A) the Shares to be sold hereunder, (B) any shares of Common Stock of the Company issued upon the exercise of options granted under Company Stock Plans, (C) any options and other awards granted under a Company Stock Plan,
(D) the filing by the Company of any registration statement on Form S-8 or a successor form thereto relating to a Company Stock Plan, (E) shares of Common Stock or other securities issued in
connection with a transaction with an unaffiliated third party that includes a bona fide commercial relationship (including joint ventures, marketing or distribution arrangements, collaboration agreements or licensing agreements) or any acquisition
of assets or not less than a majority or controlling portion of the equity of another entity, provided that the aggregate number of the shares issued pursuant to clause (E) shall not exceed more than ten percent (10%) of the total number of
outstanding shares of Common Stock immediately following the issuance and sale of the Shares pursuant to this Agreement. 
 5.7
Nasdaq Listing. In the time and manner required by the Nasdaq, the Company shall prepare and file with Nasdaq an additional shares listing application covering all of the Shares 

5.8 Equal Treatment of Purchasers. No consideration (including any modification of any Transaction Document) shall be offered or
paid to any person to amend or consent to a waiver or modification of any provision of the Transaction Documents unless the same consideration is also offered to all of the parties to the Transaction Documents. For clarification purposes, this
provision constitutes a separate right granted to each Purchaser by the Company and negotiated separately by each Purchaser, and is intended for the Company to treat the Purchasers as a class and shall not in any way be construed as the Purchasers
acting in concert or as a group with respect to the purchase, disposition or voting of Shares or otherwise. 

  
 26 

	6.	 MISCELLANEOUS 

6.1 Termination. This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and
without any effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the Closing has not been consummated within ten calendar days from the Effective Date through no fault of such
Purchaser; provided, however, that no such termination will affect the right of any party to sue for any breach by the other party (or parties). 

6.2 Fees and Expenses. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees
and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. Notwithstanding the
foregoing, the Company shall pay all transfer agent fees, stamp taxes and other taxes and duties levied in connection with the delivery of any Shares to the Purchasers. 

6.3 Entire Agreement. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire
understanding of the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such subject matter, which the parties acknowledge have been merged into such documents,
exhibits and schedules. 
 6.4 Notices. Any and all notices or other communications or deliveries required or permitted to be
provided hereunder shall be in writing and shall be deemed given and effective upon actual receipt via mail, courier or confirmed email by the party to whom such notice is required to be given. The address for such notices and communications shall
be as set forth on the signature pages attached hereto. 
 6.5 Amendments; Waivers. No provision of this Agreement may be
waived or amended except in a written instrument signed, in the case of an amendment, by (a) the Company and (b) Purchasers holding at least a majority of the Shares sold in the Closing (as a single class on an as-converted to Common Stock basis) and then-held by a Purchaser or, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought; provided that if any amendment,
disproportionately and adversely impacts a Purchaser (or group of Purchasers) in any material respect, the consent of such disproportionately impacted Purchaser (or group of Purchasers) shall also be required. No waiver of any default with respect
to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or
omission of any party to exercise any right hereunder in any manner impair the exercise of any such right. 
 6.6 Headings. The
headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof. 

6.7 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their permitted
successors and assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser (other than by merger). The Purchasers may not assign this Agreement or any rights or
obligations hereunder without the prior written consent of the Company (other than by merger). 

  
 27 

 6.8 Third-Party Beneficiaries. The Placement Agents shall be the third party
beneficiaries of the representations and warranties of the Company in Section 3.1, the representations, warranties and covenants of the Purchasers in Section 3.2,
Section 5.2 and Section 5.6 of this Agreement. This Agreement is intended for the benefit of the parties hereto, as well as the Placement Agents to the extent it is a third party beneficiary
pursuant to this Section 6.8, and its respective permitted successors and assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other person, except as otherwise set forth in
Section 4.5(a) and this Section 6.8. 
 6.9 Governing Law. All questions
concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of
conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party
hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the State of New York. Each party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting in the State of New York for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the
enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or
proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via
registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and
notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either party shall commence an action or proceeding to enforce any provisions of the Transaction
Documents, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action
or proceeding. 
 6.10 Execution. This Agreement may be executed in two or more counterparts, all of which when taken together
shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart. In the event that
any signature on this Agreement is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a legally valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof. 

6.11 Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto
shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared
to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

  
 28 

 6.12 Rescission and Withdrawal Right. Notwithstanding anything to the contrary
contained in (and without limiting any similar provisions of) any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction Document and the Company does not timely perform its
related obligations within the periods therein provided, then such Purchaser may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without
prejudice to its future actions and rights. 
 6.13 Replacement of Shares. If any certificate or instrument evidencing any
Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or
instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity or bond, if requested. The applicant for a new certificate or instrument under such
circumstances shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Shares. 

6.14 Remedies. The Company shall be entitled to exercise all rights provided herein or granted by law, including recovery of
damages, for any breach of the Transaction Documents. 
 6.15 Independent Nature of Purchasers’ Obligations and Rights.
The obligations of each Purchaser under any Transaction Document are several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance or non-performance of the obligations of any
other Purchaser under any Transaction Document. Nothing contained herein or in any other Transaction Document, and no action taken by any Purchaser pursuant thereto, shall be deemed to constitute the Purchasers as a partnership, an association, a
joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Documents. Each Purchaser
shall be entitled to independently protect and enforce its rights, including without limitation, the rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser to be joined
as an additional party in any proceeding for such purpose. 
 6.16 Construction. The parties agree that each of them and/or
their respective counsel has reviewed and had an opportunity to revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed
in the interpretation of the Transaction Documents or any amendments hereto. 
 6.17 WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT,
OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES
FOREVER TRIAL BY JURY. 
 [Remainder of page intentionally left blank.] 

  
 29 

 IN WITNESS WHEREOF, the
parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above. 

 

	
	BEAM THERAPEUTICS INC.
	
	  

	Name:
	Title:
	
	Address for Notice:
	
	Email:
	Attention:
	
	With a copy to (which shall not constitute notice):

  
 30 

 
	
	PURCHASERS:
	
	[NAME OF PURCHASER]:
	
	  

	
	By:                                     
                                         
                  
	
	Name:                                     
                                         
            
	
	Title:                                     
                                         
              
	
	Address:                                     
                                         
        
	                                      
                                         
                     
	                                      
                                         
                     
	
	Shares Beneficially
	Owned Prior to
	Initial
Closing:                                       
                                   
	
	EIN:                                     
                                         
               
	
	Contact:                                     
                                         
        
	
	Email:                                     
                                         
            

  
 31 

 EXHIBIT A 

CLOSING SCHEDULE 

  
 32uamy_ex4-3

  Exhibit 4.3

 

 

 

 

 

 

INDENTURE

 

Dated
as of ____________, 20__

 

Between

 

United
States Antimony Corporation

as
Issuer

 

And

 

[__________________________],

as
Trustee

 

 

 

___________________

 

 

Debt
Securities

 

____________________

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENTS

 

	

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 Page

	

ARTICLE
I

	

DEFINITIONS
AND INCORPORATION BY REFERENCE

	

1

	

SECTION
1.01.

	

Definitions

	

1

	

SECTION
1.02.

	

Other
Definitions

	

3

	

SECTION
1.03.

	

Incorporation by
Reference of Trust Indenture Act

	

3

	

SECTION
1.04.

	

Rules
of Construction

	

4

	

ARTICLE
II

	

THE
SECURITIES

	

4

	

SECTION
2.01.

	

Unlimited in
Amount, Issuable in Series, Form and Dating

	

4

	

SECTION
2.02.

	

Execution and
Authentication

	

6

	

SECTION
2.03.

	

Registrar and
Paying Agent

	

7

	

SECTION
2.04.

	

Paying
Agent to Hold Assets in Trust

	

7

	

SECTION
2.05.

	

Holder
Lists

	

7

	

SECTION
2.06.

	

Registration of
Transfer and Exchange

	

7

	

SECTION
2.07.

	

Replacement
Securities

	

8

	

SECTION
2.08.

	

Outstanding
Securities

	

8

	

SECTION
2.09.

	

Treasury
Securities

	

8

	

SECTION
2.10.

	

Temporary
Securities

	

8

	

SECTION
2.11.

	

Cancellation

	

9

	

SECTION
2.12.

	

CUSIP
Numbers

	

9

	

SECTION
2.13.

	

Defaulted
Interest

	

9

	

SECTION
2.14.

	

Special Record
Dates

	

9

	

ARTICLE
III

	

REDEMPTION

	

9

	

SECTION
3.01.

	

Notices to
Trustee

	

9

	

SECTION
3.02.

	

Selection of
Securities to Be Redeemed

	

9

	

SECTION
3.03.

	

Notice
of Redemption

	

10

	

SECTION
3.04.

	

Effect
of Notice of Redemption

	

10

	

SECTION
3.05.

	

Deposit of
Redemption Price

	

10

	

SECTION
3.06.

	

Securities
Redeemed in Part

	

10

	

ARTICLE
IV

	

COVENANTS

	

10

	

SECTION
4.01.

	

Payment of
Securities

	

10

	

SECTION
4.02.

	

Maintenance of
Office or Agency

	

11

	

SECTION
4.03.

	

SEC
Reports

	

11

	

SECTION
4.04.

	

Compliance
Certificate

	

11

	

SECTION
4.05.

	

Taxes

	

11

	

SECTION
4.06.

	

Corporate
Existence

	

11

	

ARTICLE
V

	

MERGER,
ETC.

	

11

	

SECTION
5.01.

	

When
Company May Merge, etc.

	

11

	

SECTION
5.02.

	

Successor
Corporation Substituted

	

12

 

 

i

 

 

	

ARTICLE
VI

	

DEFAULTS
AND REMEDIES

	

12

	

SECTION
6.01.

	

Events
of Default

	

12

	

SECTION
6.02.

	

Acceleration

	

13

	

SECTION
6.03.

	

Other
Remedies

	

13

	

SECTION
6.04.

	

Wavier
of Past Defaults

	

13

	

SECTION
6.05.

	

Control by
Majority

	

13

	

SECTION
6.06.

	

Limitation on
Suits

	

13

	

SECTION
6.07.

	

Rights
of Holders to Receive Payment

	

13

	

SECTION
6.08.

	

Collection Suit by
Trustee

	

14

	

SECTION
6.09.

	

Trustee May File
Proofs of Claim

	

14

	

SECTION
6.10.

	

Priorities

	

14

	

SECTION
6.11.

	

Undertaking for
Costs

	

14

	

ARTICLE
VII

	

TRUSTEE

	

14

	

SECTION
7.01.

	

Duties
of Trustee

	

14

	

SECTION
7.03.

	

Individual Rights
of Trustee

	

16

	

SECTION
7.04.

	

Trustee’s
Disclaimer

	

16

	

SECTION
7.05.

	

Notice
of Defaults

	

16

	

SECTION
7.06.

	

Reports by Trustee
to Holders

	

16

	

SECTION
7.07.

	

Compensation and
Indemnity

	

16

	

SECTION
7.08.

	

Replacement of
Trustee

	

17

	

SECTION
7.09.

	

Successor Trustee
by Merger, Etc.

	

18

	

SECTION
7.10.

	

Eligibility;
Disqualification

	

18

	

SECTION
7.11.

	

Preferential
Collection of Claims Against the Company

	

18

	

ARTICLE
VIII

	

DISCHARGE
OF INDENTURE

	

18

	

SECTION
8.01.

	

Satisfaction and
Discharge of Indenture

	

18

	

SECTION
8.02.

	

Application of
Trust Funds; Indemnification

	

19

	

SECTION
8.03.

	

Legal
Defeasance of Securities of any Series

	

19

	

SECTION
8.04.

	

Covenant
Defeasance

	

20

	

SECTION
8.05.

	

Repayment to
Company

	

21

	

ARTICLE
IX

	

AMENDMENTS,
SUPPLEMENTS AND WAIVERS

	

21

	

SECTION
9.01.

	

Without Consent of
Holders

	

21

	

SECTION
9.02.

	

With
Consent of Holders

	

21

	

SECTION
9.03.

	

Compliance with
Trust Indenture Act

	

21

	

SECTION
9.04.

	

Revocation and
Effect of Consents

	

22

	

SECTION
9.05.

	

Notation on or
Exchange of Securities

	

22

	

SECTION
9.06.

	

Trustee to Sign
Amendment, etc.

	

22

 

 

ii

 

 

	

ARTICLE
X

	

MISCELLANEOUS

	

22

	

SECTION
10.01.

	

Trust
Indenture Act Controls

	

22

	

SECTION
10.02.

	

Notices

	

22

	

SECTION
10.03.

	

Communication by
Holders with Other Holders

	

23

	

SECTION
10.04.

	

Certificate and
Opinion as to Conditions Precedent

	

23

	

SECTION
10.05.

	

Statements
Required in Certificate or Opinion

	

23

	

SECTION
10.06.

	

Rules
by Trustee and Agents

	

23

	

SECTION
10.07.

	

Legal
Holidays

	

24

	

SECTION
10.08.

	

Duplicate
Originals

	

24

	

SECTION
10.09.

	

Governing
Law

	

24

	

SECTION
10.10.

	

No
Adverse Interpretation of Other Agreements

	

24

	

SECTION
10.11.

	

Successors

	

24

	

SECTION
10.12.

	

Severability

	

24

	

SECTION
10.13.

	

Counterpart
Originals

	

24

 

 

 

iii

 

 

CROSS-REFERENCE TABLE

 

	
 

	
 

	

Indenture

	

TIA Section

	
 

	

Section

	
 

	
 

	
 

	

Section
310 (a)(1)  

	

7.1

	
 

	

(a)(2)

	

7.1

	
 

	

(a)(3)

	

N.A.

	
 

	

(a)(4)

	

N.A.

	
 

	

(a)(5)

	

7.1

	
 

	

(b)

	

7.08; 7.10

	
 

	

(c)

	

N.A.

	

Section
311 (a)  

	

7.11

	
 

	

(b)

	

7.11

	
 

	

(c)

	

N.A.

	

Section
312(a) 

	
 2.05

	
 

	

(b)(1)

	

N.A.

	
 

	

(b)(2)

	

7.06

	
 

	

(c)

	

7.06; 12.02

	
 

	

(d)

	

7.06

	

Section
314 (a)(1), (2), (3)  

	

4.03

	
 

	

(a)(4)

	

4.04

	
 

	

(b)

	

N.A.

	
 

	

(c)(1)

	

10.04

	
 

	

(c)(2)

	

10.04

	
 

	

(c)(3)

	

N.A.

	
 

	

(d)

	

N.A.

	
 

	

(e)

	

10.05

	
 

	

(f)

	

N.A.

	

Section 315 (a)

	
 

	

7.01(b)

	
 

	

(b)

	

7.05; 10.02

	
 

	

(c)

	

7.01(a)

	
 

	

(d)

	

7.01(c)

	
 

	

(e)

	

6.11

	

Section
316(a) (last sentence)  

	

2.09

	
 

	

(a)(1)(A)

	

6.05

	
 

	

(a)(1)(B)

	

6.04

	
 

	

(a)(2)

	

N.A.

	
 

	

(b)

	

6.07

	
 

	

(c)

	

9.04

	

Section
317 (a)(1)  

	

6.08

	
 

	

(a)(2)

	

6.09

	
 

	

(b)

	

2.04

	

Section
318 (a)  

	

10.01

 

N.A.
means Not Applicable

 

NOTE:
This Cross-Reference Table shall not, for any purpose, be deemed to
be a part of the indenture.

 

 

iv

 

 

INDENTURE dated as
of __________, 20___, between United States Antimony Corporation, a
Montana corporation (the “Company”), as issuer, and
[_______________], a [__________] banking corporation, as Trustee
(the “Trustee”).

 

The
Company has duly authorized the execution and delivery of this
Indenture to provide for the issuance from time to time of its
debentures, notes or other evidences of indebtedness to be issued
in one or more series (the “Securities”), as herein
provided, up to such principal amount as may from time to time be
authorized in or pursuant to one or more resolutions of the Board
of Directors or by supplemental indenture.

 

Each
party agrees as follows for the benefit of the other party and for
the equal and ratable benefit of the Holders of each series of the
Securities:

 

ARTICLE I

 

 

.A DEFINITIONS
AND INCORPORATION BY REFERENCE

 

SECTION
1.01. Definitions.

 

“Affiliate” means, when
used with reference to the Company or another person, any person
directly or indirectly controlling, controlled by, or under direct
or indirect common control with, the Company or such other person,
as the case may be. For the purposes of this definition,
“control” when used with respect to any specified
person means the power to direct or cause the direction of
management or policies of such person, directly or indirectly,
whether through the ownership of voting Securities, by contract or
otherwise; and the terms “Controlling” and
“controlled” have meanings correlative of the
foregoing.

 

“Agent” means any
registrar, Paying Agent, authenticating agent or
co-registrar.

 

“Board of Directors”
means, with respect to any person, the Board of Directors of a
person or any duly authorized committee of such Board of
Directors.

 

“Board Resolution” means,
with respect to any person, a copy of a resolution certified by the
secretary or an assistant secretary of such person to have been
duly adopted by the Board of Directors of such person or any duly
authorized committee thereof and to be in full force and effect on
the date of such certification, and delivered to the
Trustee.

 

“Business Day” means a day
that is not a Legal Holiday as defined in Section 10.07.

 

“Company” means the party
named as such in this Indenture, or any other obligor under this
Indenture, until a successor replaces it pursuant to this Indenture
and thereafter means the successor.

 

“Consolidated” or
“consolidated” means, when
used with reference to any amount, such amount determined on a
consolidated basis in accordance with GAAP, after the elimination
of intercompany items.

 

“Consolidated Assets”
means, at a particular date, all amounts which would be included
under total assets on a consolidated balance sheet of the Company
and its Subsidiaries as at such date, determined in accordance with
GAAP.

 

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

 

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

 

“Event of Default” has the
meaning provided in Section 6.01.

 

“Exchange Act” means the
Securities Exchange Act of 1934, as amended any successor
Statute.

 

 

1

 

 

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

 

“Global Security” means a
Security issued to evidence all or a part of any series of
Securities that is executed by the Company and authenticated and
delivered by the Trustee to a depositary or pursuant to such
depositary’s instructions, all in accordance with this
Indenture and pursuant to Section 2.01, which shall be
registered as to principal and interest in the name of such
depositary or its nominee.

 

“Holder” means the person
in whose name a Security is registered on the registrar’s
books.

 

“Indebtedness” of a Person
means all obligations which would be treated as liabilities upon a
balance sheet of such Person prepared on a consolidated basis in
accordance with GAAP.

 

“Indenture” means this
Indenture, as amended, supplemented or modified from time to time,
and shall include the terms of a particular series of Securities
established as contemplated by Section 2.01.

 

“Lien” means any lien,
security interest, charge or encumbrance of any kind.

 

“Obligations” means all
obligations for principal, premium, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities
payable under the documentation governing any
Indebtedness.

 

“Officer” of any person
means the Chairman of the Board, the Chief Executive Officer, the
President, any Vice President, the Treasurer, the Secretary or the
Controller of such person.

 

“Officers’
Certificate” means a certificate signed by two
Officers or by an Officer and an Assistant Treasurer, Assistant
Secretary or Assistant Controller of any person.

 

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

 

“Original Issue Discount
Security” means any Security which provides that an
amount less than its principal amount is due and payable upon
acceleration after an Event of Default.

 

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

 

“Redemption Date” means,
with respect to any Security to be redeemed, the date fixed for
such redemption pursuant to this Indenture.

 

“Redemption Price” has the
meaning provided in Section 3.03.

 

“SEC” means the Securities
and Exchange Commission and any government agency succeeding to its
functions.

 

“Securities” means the
means the securities authenticated and delivered under this
Indenture.

 

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

 

“Series” means a series of
Securities established pursuant to this Indenture.

 

 

2

 

 

“Subsidiary” of any Person
means (i) a corporation a majority of whose capital stock with
voting power, under ordinary circumstances, to elect directors is
at the time, directly or indirectly, owned by such Person or by
such Person and a subsidiary or subsidiaries of such Person or by a
subsidiary or subsidiaries of such Person or (ii) any other Person
(other than a corporation) in which such Person or such Person and
a subsidiary or subsidiaries of such Person or a subsidiary or
subsidiaries of such Persons, at the time, directly or indirectly,
own at least a majority voting interest under ordinary
circumstances.

 

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

 

“Trustee” means the party
named as such above until a successor becomes such pursuant to this
Indenture and thereafter means or includes each party who is then a
trustee hereunder, and if at any time there is more than one such
party, “Trustee” as used with
respect to the Securities of any series means the Trustee with
respect to Securities of that series. If Trustees with respect to
different series of Securities are Trustees under this Indenture,
nothing herein shall constitute the Trustees co-Trustees of the
same trust, and each Trustee shall be the Trustee of a trust
separate and apart from any trust administered by any other Trustee
with respect to a different series of Securities.

 

“Trust Officer” means any
officer in the corporate trust department of the Trustee or any
other officer of the Trustee assigned by the Trustee to administer
this Indenture.

 

“U.S. Government
Obligations” means (i) direct obligations of the
United States of America for the payment of which the full faith
and credit of the United States of America is pledged or (ii)
obligations of a person controlled or supervised by and acting as
an agency or instrumentality of the United States of America, the
payment of which is unconditionally guaranteed as a full faith and
credit obligation by the United States of America and which in
either case, are non-callable at the option of the issuer
thereof.

 

SECTION
1.02. Other
Definitions.

 

	
 

	
 

	

Defined in

	

Term

	
 

	

Section

	
 

	
 

	
 

	

“Bankruptcy
Law”

	
 

	

6.01

	

“Custodian”

	
 

	

6.01

	

“Legal
Holiday”

	
 

	

10.07

	

“Paying
Agent”

	
 

	

2.03

	

“Registrar”

	
 

	

2.03

 

SECTION 1.03. Incorporation by
Reference of Trust Indenture Act. Whenever this Indenture refers to a
provision of the TIA, the provision is incorporated by reference in
and made a part of this Indenture.

 

The
following TIA terms used in this Indenture have the following
meanings:

 

“indenture Securities”
means the Securities;

 

“indenture Security
holder” means a Holder;

 

“indenture to be
qualified” means this Indenture;

 

“indenture Trustee” or
“institutional
Trustee” means the Trustee; and

 

“obligor” on the
Securities means the Company and any other obligor on the indenture
Securities.

 

 

3

 

 

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

 

SECTION 1.04. Rules of
Construction. Unless
the context otherwise requires: (i) a term has the meaning assigned
to it; (ii) an accounting term not otherwise defined has the
meaning assigned to it in accordance with GAAP; (iii)
“or” is not exclusive; (iv) words in the singular
include the plural, and in the plural include the singular; (v)
provisions apply to successive events and transactions; and (vi)
statements relating to the payment of principal and interest shall
include the payment, premium (if any) and interest.

 

ARTICLE II

THE SECURITIES

 

SECTION
2.01. Unlimited in Amount,
Issuable in Series, Form and Dating.

 

The
aggregate principal amount of Securities which may be authenticated
and delivered under this Indenture is unlimited. The Securities may
be issued in one or more series. There shall be established
pursuant to a Board Resolution or an Officers’ Certificate
pursuant to authority granted under a Board Resolution or
established in one or more indentures supplemental hereto, prior to
the issuance of Securities of any series:

 

(a)           The
title, ranking and authorized denominations of such
Securities;

 

(b)           The
aggregate principal amount of such Securities and any limit on such
aggregate principal amount;

 

(c)           The
price (expressed as a percentage of the principal amount thereof)
at which such Securities will be issued and, if other than the
principal amount thereof, the portion of the principal amount
thereof payable upon declaration of acceleration of the maturity
thereof;

 

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

 

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

 

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

 

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

 

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

 

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

 

 

4

 

 

(j)           If
other than U.S. dollars, the currency or currencies in which such
Securities are denominated and payable, which may be a foreign
currency or units of two or more foreign currencies or a composite
currency or currencies, and the terms and conditions relating
thereto;

 

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

 

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

 

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

 

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

 

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

 

(p)           Whether
Securities of the series are to be issuable as registered
Securities, bearer Securities (with or without coupons) or both,
any restrictions applicable to the offer, sale or delivery of
bearer Securities and the terms upon which bearer Securities of the
series may be exchanged for registered Securities of the series and
vice versa (if permitted by applicable laws and regulations),
whether any Securities of the series are to be issuable initially
in temporary global form and whether any Securities of the series
are to be issuable in permanent global form with or without coupons
and, if so, whether beneficial owners of interests in any such
permanent Global Security may exchange such interests for
Securities of such series and of like tenor or any authorized form
and denomination and the circumstances under which any such
exchanges may occur, if other than in the manner provided in this
Indenture, and, if registered Securities of the series are to be
issuable as a Global Security, the identity of the depositary for
such series;

 

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

 

(r)           The
person to whom any interest on any registered Security of the
series shall be payable, if other than the person in whose name
that Security (or one or more predecessor Securities) is registered
at the close of business on the regular record date for such
interest, the manner in which, or the person to whom, any interest
on any bearer Security of the series shall be payable, if otherwise
than upon presentation and surrender of the coupons appertaining
thereto as they severally mature, and the extent to which, or the
manner in which, any interest payable on a temporary Global
Security on an interest payment date will be paid if other than in
the manner provided in this Indenture;

 

(s)           Whether
such Securities will be issued in certificated or book entry
form;

 

(t)           The
applicability, if any, of the legal defeasance and covenant
defeasance provisions of this Indenture to the Securities of the
series;

 

 

5

 

 

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

 

(v)           Whether
the Securities will be listed for trading on an exchange and the
identity of such exchange;

 

(w)           Whether
any underwriters will act as market makers for the
Securities;

 

(x)           Any
guarantees of such Securities by the Company’s Subsidiaries
or others;

 

(y)           The
date or dates, if any, after which the Securities may be converted
or exchanged into or for shares of the Company’s common stock
or another company’s securities or properties or cash and the
terms for any such conversion or exchange;

 

(z)           Any
other terms of the series.

 

The
Securities of any series shall be substantially of the tenor and
purport as set forth in one or more indentures supplemental hereto
or as provided in a written order of the Company, in each case with
such insertions, omission, substitutions and other variations as
are required or permitted by this Indenture, and may have such
letters, numbers or other marks of identification or designation
and such legends or endorsements printed, lithographed or engraved
thereon as the Company may deem appropriate and as are not
inconsistent with the provisions of this Indenture, or as may be
required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any stock
exchange on which Securities of that series may be listed or of the
depository, or to conform to usage.

 

The
Trustee’s Certificate of Authentication shall be in
substantially the following form:

 

“This is one
of the Securities of the series designated in accordance with, and
referred to in the within-mentioned Indenture.

 

Dated:

 

[____________________],
as Trustee

 

By:                                                       

      Authorized
Signatory”

 

 

SECTION 2.02. Execution and
Authentication. Two
Officers shall sign the Securities for the Company by manual or
facsimile signature.

 

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

 

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

 

The
Trustee shall authenticate Securities for original issue upon a
written order of the Company signed by one Officer of the
Company.

 

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

 

 

6

 

 

If the
Company shall establish pursuant to Section 2.01 that the
Securities of a series are to be issued in the form of one or more
Global Securities, then the Company shall execute and the Trustee
shall authenticate and deliver one or more Global Securities that
(i) shall represent and shall be denominated in an amount equal to
the aggregate principal amount of all of the Securities of such
series to be issued in the form of Global Securities and not yet
canceled, (ii) shall be registered in the name of the depositary
for such Global Security or Securities or the nominee of such
depositary, (iii) shall be delivered by the Trustee to such
depositary or pursuant to such depositary’s instructions, and
(iv) shall bear a legend substantially to the following effect:
“Unless and until it is exchanged in whole or in part for
Securities in definitive registered form, this Security may not be
transferred except as a whole by the depositary to the nominee of
the depositary or by a nominee of the depositary to the depositary
or another nominee of the depositary or by the depositary or any
such nominee to a successor depositary or a nominee of such
successor depositary.”

 

Each depositary designated pursuant to
Section
2.01 must, at the time of its
designation and at all times while it services as depositary, be a
clearing agency registered under the Exchange
Act.

 

SECTION 2.03. Registrar and
Paying Agent. The
Company shall maintain an office or agency where Securities of a
particular series may be presented for registration of transfer or
for exchange (the “Registrar”) and an office
or agency where Securities may be presented for payment (the
“Paying
Agent”). The registrar for a particular series of
Securities shall keep a register of the Securities of that series
and of their transfer and exchange. The Company may appoint one or
more co-registrars and one or more additional Paying Agents for
each series of Securities. The term “Paying Agent”
includes any additional paying agent and the term
“Registrar” includes any additional registrar. The
Company may change any Paying Agent or registrar without prior
notice to any Holder.

 

The
Company shall enter into an appropriate agency agreement with any
Agent not a party to this Indenture, which shall incorporate the
terms of the TIA and implement the terms of this Indenture which
relate to such Agent. The Company shall give prompt written notice
to the Trustee of the name and address of any Agent who is not a
party to this Indenture. If the Company fails to appoint or
maintain another entity as Registrar or Paying Agent, the Trustee
shall act as such. The Company or any Affiliate of the Company may
act as Paying Agent or Registrar.

 

The
Company hereby initially appoints the Trustee as Registrar and
Paying Agent for each series of Securities unless another Registrar
or Paying Agent, as the case may be, is appointed prior to the time
the Securities of that series are first issued.

 

SECTION 2.04. Paying Agent to
Hold Assets in Trust.
The Company shall require each Paying Agent other than the Trustee
to agree in writing that the Paying Agent shall hold in trust for
the benefit of Holders or the Trustee all assets held by the Paying
Agent for the payment of principal of and interest on the
Securities (whether such money has been paid to it by the Company
or any other obligor on the Securities) and shall notify the
Trustee of any failure by the Company (or any other obligor on the
Securities) in making any such payment. While any such failure
continues, the Trustee may require a Paying Agent to pay all money
held by it to the Trustee and to account for any funds disbursed.
The Company at any time may require a Paying Agent to pay all money
held by it to the Trustee. Upon payment over to the Trustee, the
Paying Agent (if other than the Company or a Subsidiary of the
Company) shall have no further liability for the money so paid over
to the Trustee. If the Company or a Subsidiary of the Company acts
as Paying Agent, it shall segregate and hold in a separate trust
fund for the benefit of the Holders all money held by it as Paying
Agent.

 

SECTION 2.05. Holder
Lists. The Trustee
shall preserve in as current a form as is reasonably practicable
the most recent list available to it of the names and addresses of
Holders, separately by series, and shall otherwise comply with TIA
Section 312(a). If the Trustee is not the registrar, the Company
shall furnish to the Trustee on or before each interest payment
date for the Securities and at such other times as the Trustee may
request in writing a list in such form and as of such date as the
Trustee may reasonably require of the names and addresses of
Holders, separately by series, relating to such interest payment
date or request, as the case may be.

 

SECTION 2.06. Registration of
Transfer and Exchange. When Securities of a series are
presented to the registrar or a co-registrar with a request to
register their transfer or to exchange them for an equal principal
amount of Securities of other denominations, the registrar or
co-registrar shall register the transfer or make the exchange if
its requirements for such transaction are met. To permit
registrations of transfer and exchanges, the Company shall issue
and the Trustee shall authenticate Securities at the
registrar’s or co-registrar’s request. No service
charge shall be made for any registration of transfer or exchange,
but the Company may require payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in
connection with registration, transfer or exchange of Securities
other than exchanges pursuant to Section 2.10, 3.06 or 9.05 not involving any
transfer.

 

 

7

 

 

The
registrar or co-registrar shall not be required to register the
transfer or exchange of (i) any Security of a particular series
selected for redemption in whole or in part, except the unredeemed
portion of any Security of that series being redeemed in part, or
(ii) any Security of a particular series during a period beginning
at the opening of business 15 days before the day of any selection
of Securities of that series for redemption under Section 3.02 and ending at the
close of business on the date of selection.

 

Any
Holder of a beneficial interest in a Global Security shall, by
acceptance of such beneficial interest, agree that transfers of
beneficial interest in such Global Security may be effected only
through a book entry system maintained by the holder of such Global
Security (or its agent), and that ownership of a beneficial
interest in the Security shall be required to be reflected in a
book entry system.

 

SECTION 2.07. Replacement
Securities. If a
mutilated Security is surrendered to the Trustee or if the Holder
of a Security claims that the Security has been lost, destroyed or
wrongfully taken, the Company shall issue and the Trustee shall
authenticate a replacement Security of the same series if the
requirements of the Trustee and the Company are met; provided that, if any such
Security has been called for redemption in accordance with the
terms thereof, the Trustee may pay the Redemption Price thereof on
the Redemption Date without authenticating or replacing such
Security. The Trustee or the Company may, in either case, require
the Holder to provide an indemnity bond sufficient in the judgment
of each of the Trustee and the Company to protect the Company, the
Trustee or any Agent from any loss which any of them may suffer if
a Security is replaced or if the Redemption Price therefor is paid
pursuant to this Section. The Company may charge the Holder who has
lost a Security for its expenses in replacing a
Security.

 

Every
replacement Security is an obligation of the Company and shall be
entitled to the benefits of this Indenture equally and
proportionately with any and all other Securities of the same
series.

 

SECTION 2.08. Outstanding
Securities. The
Securities of any series outstanding at any time are all the
Securities of that series authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation and
those described in this Section as not outstanding.

 

If a
Security is replaced pursuant to Section 2.07, it ceases to be
outstanding and interest ceases to accrue unless the Trustee
receives proof satisfactory to it that the replaced Security is
held by a bona fide purchaser.

 

If all
principal of and interest on any of the Securities are considered
paid under Section
4.01, such Securities shall cease to be outstanding and
interest on them shall cease to accrue.

 

Except
as provided in Section
2.09, a Security does not cease to be outstanding because
the Company or an Affiliate of the Company holds such
Security.

 

For
each series of Original Issue Discount Securities, the principal
amount of such Securities that shall be deemed to be outstanding
and used to determine whether the necessary Holders have given any
request, demand, authorization, direction, notice, consent or
waiver, shall be the principal amount of such Securities that could
be declared to be due and payable upon acceleration upon an Event
of Default as of the date of such determination. When requested by
the Trustee, the Company will advise the Trustee of such amount,
showing its computations in reasonable detail.

 

SECTION 2.09. Treasury
Securities. In
determining whether the Holders of the required principal amount of
Securities of any series have concurred in any direction, waiver or
consent, Securities owned by the Company or an Affiliate of the
Company shall be considered as though they are not outstanding,
except that for the purposes of determining whether the Trustee
shall be protected in relying on any such direction, waiver or
consent, only Securities which such Trustee actually knows are so
owned shall be so disregarded.

 

SECTION 2.10. Temporary
Securities. Until
definitive Securities are ready for delivery, the Company may
prepare and execute and the Trustee shall authenticate temporary
Securities. Temporary Securities shall be substantially in the form
of definitive Securities but may have variations that the Company
considers appropriate for temporary Securities. Without
unreasonable delay, the Company shall prepare and the Trustee shall
authenticate definitive Securities in exchange for temporary
Securities. Holders of temporary Securities shall be entitled to
all of the benefits of this Indenture.

 

 

8

 

 

SECTION 2.11. Cancellation.
The Company at any time may deliver Securities to the Trustee for
cancellation. The Registrar and Paying Agent shall forward to the
Trustee any Securities surrendered to them for registration of
transfer, exchange, payment or repurchase. The Trustee shall cancel
all Securities surrendered for registration of transfer, exchange,
payment, repurchase, redemption, replacement or cancellation and
shall destroy such Securities (subject to the record retention
requirements of the Exchange Act). Certification of the destruction
of all cancelled Securities shall be promptly delivered to the
Company. The Company may not issue new Securities to replace
Securities that it has paid or that have been delivered to the
Trustee for cancellation.

 

SECTION 2.12. CUSIP
Numbers. The Company
in issuing the Securities may use “CUSIP” numbers (if
then generally in use), and the Trustee shall use CUSIP numbers in
notices of redemption or exchange as a convenience to Holders;
provided that any
such notice shall state that no representation is made as to the
correctness of such numbers either as printed on the Securities or
as contained in any such notice and that reliance may be placed
only on the other identification numbers printed on the Securities,
and any such redemption shall not be affected by any defect in or
omission of such numbers. The Company shall promptly notify the
Trustee of any change in the CUSIP numbers.

 

SECTION 2.13. Defaulted
Interest. If the
Company fails to make a payment of interest on any series of
Securities, it shall pay such defaulted interest plus (to the
extent lawful) any interest payable on the defaulted interest, in
any lawful manner. It may elect to pay such defaulted interest,
plus any such interest payable on it, to the Persons who are
Holders of such Securities on which the interest is due on a
subsequent special record date. The Company shall notify the
Trustee in writing of the amount of defaulted interest proposed to
be paid on each such Security. The Company shall fix any such
record date and payment date for such payment. At least 15 days
before any such record date, the Company shall mail to Holders
affected thereby a notice that states the record date, payment
date, and amount of such interest to be paid.

 

SECTION 2.14. Special Record
Dates. The Company
may, but shall not be obligated to, set a record date for the
purpose of determining the identity of Holders entitled to consent
to any supplement, amendment or waiver permitted by this Indenture.
If a record date is fixed, the Holders of Securities of that series
outstanding on such record date, and no other Holders, shall be
entitled to consent to such supplement, amendment or waiver or
revoke any consent previously given, whether or not such Holders
remain Holders after such record date. No consent shall be valid or
effective for more than 90 days after such record date unless
consents from Holders of the principal amount of Securities of that
series required hereunder for such amendment or waiver to be
effective shall have also been given and not revoked within such
90-day period.

 

ARTICLE III

REDEMPTION

 

SECTION 3.01. Notices to
Trustee. If the
Company elects to redeem Securities of any series pursuant to any
optional redemption provisions thereof, it shall notify the Trustee
of the intended Redemption Date and the principal amount of
Securities of that series to be redeemed.

 

The
Company shall give each notice provided for in this Section and an
Officers’ Certificate at least 45 days before the Redemption
Date (unless a shorter period shall be satisfactory to the
Trustee).

 

SECTION 3.02. Selection of
Securities to Be Redeemed. If fewer than all the Securities of
any series are to be redeemed, the Trustee shall select the
Securities of that series to be redeemed from the outstanding
Securities of that series to be redeemed by a method that complies
with the requirements of any exchange on which the Securities of
that series are listed, or, if the Securities of that series are
not listed on an exchange, on a pro rata basis or by lot, which in
any case shall be in accordance with a method the Trustee considers
fair and appropriate.

 

Except
as otherwise provided as to any particular series of Securities,
Securities and portions thereof that the Trustee selects shall be
in amounts equal to the minimum authorized denomination for
Securities of the series to be redeemed or any integral multiple
thereof. Provisions of this Indenture that apply to Securities
called for redemption also apply to portions of Securities called
for redemption. The Trustee shall notify the Company promptly in
writing of the Securities or portions of Securities to be called
for redemption.

 

 

9

 

 

SECTION 3.03. Notice of
Redemption. At least
30 days but not more than 60 days before the Redemption Date, the
Company shall mail a notice of redemption by first-class mail to
each Holder whose Securities are to be redeemed at the address of
such Holder appearing in the register.

 

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

 

(1)           the
Redemption Date;

 

(2)           the
redemption price fixed in accordance with the terms of the
Securities of the series to be redeemed, plus accrued interest, if
any, to the date fixed for redemption (the “Redemption
Price”);

 

(3)           if
any Security is being redeemed in part, the portion of the
principal amount of such Security to be redeemed and that, after
the Redemption Date, upon surrender of such Security, a new
Security or Securities in principal amount equal to the unredeemed
portion will be issued;

 

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

 

(5)           that
Securities called for redemption must be surrendered to the Paying
Agent to collect the Redemption Price;

 

(6)           that,
unless the Company defaults in payment of the Redemption Price,
interest on Securities called for redemption ceases to accrue on
and after the Redemption Date; and

 

(7)           the
CUSIP number, if any, of the Securities to be
redeemed.

 

At the
Company’s written request, the Trustee shall give the notice
of redemption in the Company’s name and at its expense. The
notice mailed in the manner herein provided shall be conclusively
presumed to have been duly given whether or not the Holder receives
such notice. In any case, failure to give such notice by mail or
any defect in the notice to the Holder of any Security shall not
affect the validity of the proceeding for the redemption of any
other Security.

 

SECTION 3.04. Effect of Notice of
Redemption. Once
notice of redemption is mailed, Securities called for redemption
become due and payable on the Redemption Date at the Redemption
Price. Upon surrender to the Paying Agent, such Securities shall be
paid at the Redemption Price.

 

SECTION 3.05. Deposit of
Redemption Price. On
or before the Redemption Date, the Company shall deposit with the
Trustee or with the Paying Agent (or if the Company or any
Subsidiary of the Company is acting as its own Paying Agent, the
Company or such Subsidiary shall segregate and hold in trust) money
sufficient to pay the Redemption Price on all Securities to be
redeemed on that date other than Securities or portions thereof
called for redemption on that date which have been delivered by the
Company to the Trustee for cancellation. The Paying Agent shall
promptly return to the Company any money not required for that
purpose.

 

SECTION 3.06. Securities Redeemed
in Part. Upon
surrender of a Security that is redeemed in part, the Company shall
issue and the Trustee shall authenticate for the Holder at the
expense of the Company, a new Security of the same series equal in
principal amount to the unredeemed portion of the Security
surrendered.

 

 

ARTICLE IV

COVENANTS

 

SECTION 4.01. Payment of
Securities. The
Company shall pay or cause to be paid the principal of and interest
on the Securities on the dates and in the manner provided in this
Indenture and the Securities. Principal and interest shall be
considered paid on the date due if the Paying Agent, if other than
the Company or an Affiliate, holds as of 11:00 a.m. New York time
on that date immediately available funds designated for and
sufficient to pay all principal and interest then due. To the
extent lawful, the Company shall pay interest on overdue principal
and overdue installments of interest at the rate per annum borne by
the applicable series of Securities.

 

 

10

 

 

SECTION 4.02. Maintenance of
Office or Agency. The
Company shall maintain in the Borough of Manhattan, the City of New
York, or in [_______________], an office or agency (which may be an
office of the Trustee or an affiliate of the Trustee or registrar)
where Securities may be surrendered for registration of transfer or
exchange and where notices and demands to or upon the Company in
respect of the Securities and this Indenture may be served. The
Company shall give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency.
If at any time the Company shall fail to maintain any such required
office or agency or shall fail to furnish the Trustee with the
address thereof, such presentations, surrenders, notices and
demands may be made or served at the Corporate Trust Office of the
Trustee.

 

The
Company may also from time to time designate one or more other
offices or agencies where the Securities may be presented or
surrendered for any or all such purposes and may from time to time
rescind such designations; provided, however, that no such
designation or rescission shall in any manner relieve the Company
of its obligation to maintain an office or agency in the Borough of
[___________], the City of [___________], or [___________], for
such purposes. The Company shall give prompt written notice to the
Trustee of any such designation or rescission and of any change in
the location of any such other office or agency.

 

The
Company hereby designates the Corporate Trust Office of the Trustee
as one such office or agency of the Company in accordance with
Section
2.03.

 

SECTION 4.03. SEC
Reports. The Company
shall deliver to the Trustee within 15 days after it files them
with the SEC copies of the annual reports and of the information,
documents, and other reports (or copies of such portions of any of
the foregoing as the SEC may by rules and regulations prescribe)
which the Company is required to file with the SEC pursuant to
Section 13 or 15(d) of the Exchange Act; provided, however, the
Company shall not be required to deliver to the Trustee any
materials for which the Company has sought and received
confidential treatment by the SEC. The Company also shall comply
with the other provisions of TIA Section 314 (a).

 

SECTION 4.04. Compliance
Certificate. The
Company shall deliver to the Trustee, within 120 days after the end
of each fiscal year of the Company, an Officers’ Certificate
stating that in the course of the performance by the signers of
their duties as officers of the Company, they would normally have
knowledge of any failure by the Company to comply with all
conditions, or default by the Company with respect to any
covenants, under this Indenture, and further stating whether or not
they have knowledge of any such failure or default and, if so,
specifying each such failure or default and the nature thereof. For
purposes of this Section, such compliance shall be determined
without regard to any period of grace or requirement of notice
provided for in this Indenture. The certificate need not comply
with Section
10.04.

 

SECTION 4.05. Taxes.
The Company shall pay prior to delinquency, all material taxes,
assessments, and governmental levies except as contested in good
faith by appropriate proceedings.

 

SECTION 4.06. Corporate
Existence. Subject to
Article V hereof,
the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect (i) its corporate
existence and (ii) the material rights (charter and statutory),
licenses and franchises of the Company and its Subsidiaries taken
as a whole; provided, however, that the Company shall
not be required to preserve any such right, license or franchise if
the Board of Directors or management of the Company shall determine
that the preservation thereof is no longer in the best interests of
the Company, and that the loss thereof is not adverse in any
material respect to the Holders.

 

ARTICLE V

MERGER, ETC.

 

SECTION 5.01. When Company May
Merge, etc. (a) The
Company shall not consolidate or merge with or into, or sell,
assign, transfer, lease, convey or otherwise dispose of all or
substantially all of its assets to, any Person unless: (i) the
Person formed by or surviving any such consolidation or merger (if
other than the Company), or to which such sale, assignment,
transfer, lease, conveyance or disposition has been made, is a
corporation organized and existing under the laws of the United
States of America, any state thereof or the District of Columbia;
(ii) the Person formed by or surviving any such consolidation or
merger (if other than the Company), or to which such sale,
assignment, transfer, lease, conveyance or disposition has been
made, assumes by supplemental indenture satisfactory in form to the
Trustee all the obligations of the Company under the Securities and
this Indenture; and (iii) immediately after such transaction, and
giving effect thereto, no Default or Event of Default shall have
occurred and be continuing. Notwithstanding the foregoing, the
Company may merge with another Person or acquire by purchase or
otherwise all or any part of the property or assets of any other
corporation or Person in a transaction in which the surviving
entity is the Company.

 

 

11

 

 

(b)           In
connection with any consolidation, merger, sale, assignment,
transfer or lease contemplated by this Section 5.01, the Company
shall deliver, or cause to be delivered, to the Trustee, in form
and substance reasonably satisfactory to the Trustee, an
Officers’ Certificate and an Opinion of Counsel, each stating
that such consolidation, merger, sale, assignment, transfer or
lease and the supplemental indenture in respect thereof comply with
Article V and the
TIA and that all conditions precedent herein provided for relating
to such transaction have been complied with.

 

SECTION 5.02. Successor
Corporation Substituted. Upon any consolidation or merger, or
any sale, assignment, transfer, lease, conveyance or other
disposition of all or substantially all the assets of the Company
in accordance with Section
5.01, the successor corporation formed by such consolidation
or into which the Company is merged or to which such sale,
assignment, transfer, lease, conveyance or other disposition is
made shall succeed to, and be substituted for, and may exercise
every right and power of, the Company under this Indenture with the
same effect as if such successor corporation had been named as the
Company herein. In the event of any such sale or conveyance, but
not any such lease, the Company or any successor corporation which
thereafter shall have become such in the manner described in this
Article V shall be
discharged from all obligations and covenants under this Indenture
and the Securities and may be dissolved, wound up or
liquidated.

 

ARTICLE VI

DEFAULTS AND REMEDIES

 

SECTION 6.01. Events of
Default. An
“Event of Default” occurs with respect to Securities of
any particular series, unless in the establishing Board
Resolutions, Officers’ Certificate or supplemental indenture
hereto, it is provided that such series shall not have the benefit
of any such Event of Default, when any of the following
occurs:

 

(i)           the
Company defaults in the payment of interest on any Security of that
series when it becomes due and payable and such default continues
for a period of 30 days;

 

(ii)           the
Company defaults in the payment of the principal of any Security of
that series when the same becomes due and payable at maturity, upon
acceleration, redemption or otherwise;

 

(iii)           the
Company fails to comply with any of its other agreements or
covenants in, or provisions of, the Securities of that series or
this Indenture and the Default continues for the period and after
the notice specified below;

 

(iv)           the
Company pursuant to or within the meaning of any Bankruptcy Law:
(A) commences a voluntary case or proceeding, (B) consents to the
entry of an order for relief against it in an involuntary case or
proceeding, (C) consents to the appointment of a Custodian of it or
for all or substantially all of its property, or (D) makes a
general assignment for the benefit of its creditors;
or

 

(v)           a
court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: (A) is for relief against the Company in an
involuntary case or proceeding, (B) appoints a Custodian for the
Company or for all or substantially all of the Company’s
property, or (C) orders the liquidation of the
Company;

 

and in
case of (v) the order or decree remains unstayed and in effect for
60 days.

 

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

 

A
Default under clause (iii) of this Section 6.01 is not an Event of
Default with respect to a particular series of Securities until the
Trustee notifies the Company in writing, or the Holders of at least
25% in principal amount of the outstanding Securities of that
series notify the Company and the Trustee, in writing, of the
Default, and the Company does not cure the Default within 30 days
after receipt of the notice. The notice must specify the Default,
demand that it be remedied and state that the notice is a
“Notice of Default”.

 

 

12

 

 

SECTION 6.02. Acceleration.
If an Event of Default (other than an Event of Default specified in
clause (iv) or (v) of Section 6.01) occurs and is continuing, the
Trustee or the Holders of at least 25% of the principal amount of
the outstanding Securities of that series, by written notice to the
Company may declare due and payable 100% of the principal amount
(or, in the case of Original Issue Discount Securities, such lesser
amount as may be provided for in such Securities) of the Securities
of that series plus any accrued interest to the date of payment.
Upon a declaration of acceleration, such principal (or such lesser
amount) and accrued interest to the date of payment shall be due
and payable. If an Event of Default specified in clause (iv) or (v)
of Section 6.01 occurs, all unpaid principal and accrued interest
on the Securities shall become and be immediately due and payable
without any declaration or other act on the part of the Trustee or
any Holder.

 

The
Holders of a majority of the outstanding principal amount of the
Securities of that series by written notice to the Trustee may
rescind an acceleration and its consequences if (i) all existing
Events of Default other than the nonpayment of principal (or such
lesser amount) of or interest on the Securities of that series
which have become due solely because of the acceleration, have been
cured or waived and (ii) the rescission would not conflict with any
judgment or decree of a court of competent
jurisdiction.

 

SECTION 6.03. Other
Remedies. If an Event
of Default occurs and is continuing with respect to any series of
Securities, the Trustee may pursue any available remedy by
proceeding at law or in equity to collect the payment of principal
of or interest on the Securities of that series or to enforce the
performance of any provision of the Securities of that series or
this Indenture.

 

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

 

SECTION 6.04. Waiver of Past
Defaults. Subject to
Sections 6.07 and
9.02, the Holders
of at least a majority in principal amount of the outstanding
Securities of any series by notice to the Trustee may waive an
existing Default or Event of Default and its consequences with
respect to that series, except a Default in the nonpayment of the
principal of or interest on any Security of that series
(provided,
however, that the
Holders of a majority in principal amount of the then outstanding
Securities of any series may rescind an acceleration and its
consequences, including any related payment default that resulted
from such acceleration) . When a Default or Event of Default is
waived, it is cured and ceases.

 

SECTION 6.05. Control by
Majority. The Holders
of at least a majority in principal amount of the outstanding
Securities of any series may direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee
or exercising any trust or power conferred on it. However, the
Trustee may refuse to follow any direction that conflicts with law
or this Indenture, that the Trustee determines may be unduly
prejudicial to the rights of other Holders or that may involve the
Trustee in personal liability. The Trustee may take any other
action which it deems proper which is not inconsistent with any
such direction.

 

SECTION 6.06. Limitation on
Suits. A Holder of
Securities of any series may not pursue a remedy with respect to
this Indenture or the Securities of that series unless: (i) the
Holder gives to the Trustee written notice of a continuing Event of
Default with respect to such series; (ii) the Holders of at least
25% in principal amount of the outstanding Securities of that
series make a written request to the Trustee to pursue the remedy;
(iii) such Holder or Holders offer to the Trustee indemnity
satisfactory to the Trustee against any loss, liability, cost or
expense; (iv) the Trustee does not comply with the request within
60 days after receipt of the request and the offer of indemnity;
and (v) during such 60-day period the Holders of at least a
majority in principal amount of the outstanding Securities of that
series do not give the Trustee a direction inconsistent with the
request.

 

A
Holder may not use this Indenture to prejudice the rights of
another Holder or to obtain a preference or priority over another
Holder.

 

SECTION 6.07. Rights of Holders
To Receive Payment.
Notwithstanding any other provision of this Indenture, the right of
any Holder of a Security to receive payment of principal of or
interest, if any, on the Security on or after the respective due
dates expressed or provided for in the Security, or to bring suit
for the enforcement of any such payment on or after such respective
dates, shall not be impaired or affected without the consent of the
Holder.

 

 

13

 

 

SECTION 6.08. Collection Suit by
Trustee. If an Event
of Default specified in Section 6.01(i) or (ii) occurs and is continuing
with respect to Securities of any series, the Trustee may recover
judgment in its own name and as Trustee of an express trust against
the Company for the whole amount of principal (or such portion of
the principal as may be specified as due upon acceleration at that
time in the terms of that series of Securities) and accrued
interest, if any, remaining unpaid on the outstanding Securities of
that series, together with (to the extent lawful) interest on
overdue principal and interest, and such further amount as shall be
sufficient to cover the costs and, to the extent lawful, expenses
of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel
and any other amounts due the Trustee under Section 7.07.

 

SECTION 6.09. Trustee May File
Proofs of Claim. The
Trustee may file such proofs of claim and other papers or documents
as may be necessary or advisable in order to have the claims of the
Trustee and the Holders allowed in any judicial proceeding relative
to the Company (or any other obligor upon the Securities), its
creditors or its property and shall be entitled and empowered to
participate as a member, voting or otherwise, of any official
committee of creditors appointed in such matter and to collect and
receive any moneys or other property payable or deliverable on any
such claims and to distribute the same, and any custodian in any
such judicial proceedings is hereby authorized by each Holder to
make such payments to the Trustee and, in the event that the
Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section
7.07. Nothing herein contained shall be deemed to authorize
the Trustee to authorize or consent to or accept or adopt on behalf
of any Holder any plan of reorganization, arrangement, adjustment
or composition affecting the Securities or the rights of any Holder
thereof, or to authorize the Trustee to vote in respect of the
claim of any Holder in any such proceeding.

 

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

 

FIRST:                 
to the Trustee, its agents and attorneys for amounts due under
Section 7.07,
including payment of all compensation, expense and liabilities
incurred, and all advances made by the Trustee and the costs and
expenses of collection;

 

SECOND:         
to Holders of any particular series of
Securities for amounts due and unpaid on the Securities of such
series for principal and interest, if any, ratably, without
preference or priority of any kind, according to the amounts due
and payable on the Securities of such series for principal and
interest, respectively; and

 

THIRD:               
to the Company or any other obligors on the Securities of that
series, as their interests may appear, or as a court of competent
jurisdiction may direct.

 

The
Trustee, upon prior written notice to the Company, may fix a record
date and payment date for any payment to Holders pursuant to this
Section 6.10. The Trustee shall notify the Company in writing
reasonably in advance of any such record date and payment
date.

 

SECTION 6.11. Undertaking for
Costs. In any suit
for the enforcement of any right or remedy under this Indenture or
in any suit against the Trustee for any action taken or omitted by
it as a Trustee, a court in its discretion may require the filing
by any party litigant in the suit of an undertaking to pay the
costs of the suit, and the court in its discretion may assess
reasonable costs, including reasonable attorneys’ fees and
expenses, against any party litigant in the suit, having due regard
to the merits and good faith of the claims or defenses made by the
party litigant. This Section 6.11 does not apply to
a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 or a suit by
Holders of more than 10% in principal amount of the outstanding
Securities of that series.

 

 

ARTICLE VII

TRUSTEE

 

SECTION 7.01. Duties of
Trustee. (a) If an
Event of Default has occurred and is continuing, the Trustee shall
exercise such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in their
exercise, as a prudent person would exercise or use under the
circumstances in the conduct of such person’s own
affairs.

 

 

14

 

 

(b)           Except
during the continuance of an Event of Default: (1) the Trustee need
perform only those duties that are specifically set forth in this
Indenture or the TIA, and no implied covenants or obligations shall
be read into this Indenture against the Trustee and (2) in the
absence of bad faith on its part, the Trustee may conclusively
rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon certificates or opinions furnished
to the Trustee and conforming to the requirements of this
Indenture. However, in the case of any such certificates or
opinions which by any provision hereof are specifically required to
be furnished to the Trustee, the Trustee shall examine the
certificates and opinions to determine whether or not, on their
face, they conform to the requirements of this
Indenture.

 

(c)           The
Trustee may not be relieved from liability for its own negligent
action, its own negligent failure to act or its own willful
misconduct except that: (1) this paragraph does not limit the
effect of paragraph (b) of this Section 7.01, (2) the Trustee
shall not be liable for any error of judgment made in good faith by
a Trust Officer or other officer, unless it is proved that the
Trustee was negligent in ascertaining the pertinent facts and (3)
the Trustee shall not be liable with respect to any action it takes
or omits to take in good faith in accordance with a direction
received by it pursuant to Section 6.05.

 

(d)           Whether
or not therein expressly so provided, every provision of this
Indenture that in any way relates to the Trustee is subject to
paragraphs (a), (b), (c) and (e) of this Section 7.01.

 

(e)           No
provision of this Indenture shall require the Trustee to expend or
risk its own funds or incur any liability. The Trustee may refuse
to perform any duty or exercise any right or power unless it
receives indemnity satisfactory to it against any loss, liability,
cost or expense (including, without limitation, reasonable fees of
counsel).

 

(f)           The
Trustee shall not be obligated to pay interest on any money or
other assets received by it unless otherwise agreed in writing with
the Company. Assets held in trust by the Trustee need not be
segregated from other funds except to the extent required by
law.

 

SECTION 7.02. Rights of
Trustee. Subject to
Section
7.01:

 

(a)           The
Trustee may conclusively rely on any document (whether in its
original or facsimile form) reasonably believed by it to be genuine
and to have been signed or presented by the proper person. The
Trustee need not investigate any fact or matter stated in the
document. The Trustee shall receive and retain financial reports
and statements of the Company as provided herein, but shall have no
duty to review or analyze such reports or statements to determine
compliance under covenants or other obligations of the
Company.

 

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

 

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

 

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

 

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

 

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

 

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

 

 

15

 

 

(h)           The
Trustee shall be under no obligation to exercise any of the rights
or powers vested in it by this Indenture at the request, order or
direction of any of the Holders pursuant to the provisions of this
Indenture, unless such Holders shall have offered to the Trustee
reasonable security or indemnity against the costs, expenses and
liabilities which may be incurred therein or thereby.

 

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

 

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

 

SECTION 7.03. Individual Rights
of Trustee.

 

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

 

SECTION 7.04. Trustee’s
Disclaimer. The
Trustee makes no representation as to the validity or adequacy of
this Indenture or the Securities, it shall not be accountable for
the Company’s use of the proceeds from the Securities and it
shall not be responsible for any statement in the Securities other
than its certificate of authentication.

 

SECTION 7.05. Notice of
Defaults. If a
Default or Event of Default with respect to the Securities of any
series occurs and is continuing, and if it is known to the Trustee,
the Trustee shall mail to Holders a notice of the Default or Event
of Default within 90 days after the occurrence thereof. Except in
the case of a Default or Event of Default in payment of any such
Security, the Trustee may withhold the notice if and so long as it
in good faith determines that withholding the notice is in the
interests of the Holders.

 

SECTION 7.06. Reports by Trustee
to Holders. The
Trustee shall transmit to Holders such reports concerning the
Trustee and its actions under this Indenture as may be required by
TIA Section 3.13 at the times and in the manner provided by the
TIA, which shall initially be not less than every twelve months
commencing on and may be dated as of a date up to 75 days prior to
such transmission.

 

A copy
of each report at the time of its mailing to Holders shall be filed
with the SEC, if required, and each stock exchange, if any, on
which the Securities are listed. The Company shall promptly notify
the Trustee when the Securities of any series are listed on any
stock exchange.

 

SECTION 7.07. Compensation and
Indemnity. The
Company shall be liable for paying to the Trustee from time to time
reasonable compensation for its acceptance of this Indenture and
services hereunder as the Company and the Trustee shall from time
to time agree in writing. The Trustee’s compensation shall
not be limited by any law on compensation of a trustee of an
express trust. The Company shall be liable for reimbursing the
Trustee upon request for all reasonable out-of-pocket expenses
incurred or made by it, including costs of collection, costs of
preparing and reviewing reports, certificates and other documents,
costs of preparation and mailing of notices to Securityholders and
reasonable costs of counsel retained by the Trustee in connection
with the delivery of an Opinion of Counsel or otherwise, in
addition to the compensation for its services. Such expenses shall
include the reasonable compensation and expenses, disbursements and
advances of the Trustee’s agents, counsel, accountants and
experts. The Company shall indemnify the Trustee against any and
all loss, liability, damages, claims or expense (including
reasonable attorneys’ fees and expenses) incurred by it
without negligence, bad faith or willful misconduct on its part in
connection with the administration of this trust and the
performance of its duties hereunder, including the costs and
expense of enforcing this Indenture (including this Section 7.07) and of defending
itself against any claims (whether asserted by any Securityholder,
the Company or otherwise). Failure by the Trustee to so notify the
Company shall not relieve the Company of its obligations hereunder.
The Company shall defend the claim, and the Trustee shall provide
reasonable cooperation at the Company’s expense in the
defense. The Trustee may have separate counsel and the Company
shall pay the fees and expenses of such counsel, provided that the Company shall
not be required to pay such fees and expenses if it assumes the
Trustee’s defense, and, in the reasonable judgment of outside
counsel to the Trustee, there is no conflict of interest between
the Company and the Trustee in connection with such defense.
Notwithstanding the foregoing, the Company need not reimburse any
expense or indemnify against any loss, liability or expense which
is finally determined by a court of competent jurisdiction to have
been incurred by the Trustee through the Trustee’s own
willful misconduct, negligence or bad faith.

 

 

16

 

 

To
secure the Company’s payment obligations in this Section, the
Trustee shall have a lien prior to the Securities on all money or
property held or collected by the Trustee other than money or
property held in trust to pay principal of and interest on
particular Securities. Such lien shall survive the satisfaction and
discharge of this Indenture. The Trustee’s right to receive
payment of any amounts due under this Section 7.07 shall not be
subordinate to any other liability or Indebtedness of the
Company.

 

The
Company’s and the Subsidiary Guarantors’ payment
obligations pursuant to this Section shall survive the discharge of
this Indenture. When the Trustee incurs expenses after the
occurrence of an Event of Default specified in clause (iv) or
clause (v) of Section
6.01 with respect to the Company, the expenses are intended
to constitute expenses of administration under any Bankruptcy
Law.

 

SECTION 7.08. Replacement of
Trustee. A
resignation or removal of the Trustee and appointment of a
successor Trustee shall become effective only upon the successor
Trustee’s acceptance of appointment as provided in this
Section
7.08.

 

The
Trustee may resign and be discharged from the trust hereby created
with respect to one or more or all series of Securities by so
notifying the Company in writing. The Holders of a majority in
principal amount of the then outstanding Securities of any series
may remove the Trustee with respect to that series by so notifying
the Trustee and the Company in writing. The Company may remove the
Trustee with respect to one or more or all series of Securities if:
(i) the Trustee fails to comply with Section 7.10 or TIA Section
310; (ii) the Trustee is adjudged a bankrupt or an insolvent or an
order for relief is entered with respect to the Trustee under any
Bankruptcy Law; (iii) a Custodian or public officer takes charge of
the Trustee or its property; or (iv) the Trustee becomes incapable
of acting.

 

If, as
to any series of Securities, the Trustee resigns or is removed or
if a vacancy exists in the office of the Trustee for any reason,
the Company shall promptly appoint a successor Trustee for that
series of Securities. The Trustee shall be entitled to payment of
its fees and reimbursement of its expenses while acting as Trustee.
Within one year after the successor Trustee takes office, the
Holders of at least a majority in principal amount of then
outstanding Securities of that series may appoint a successor
Trustee to replace the successor Trustee appointed by the
Company.

 

Any
Holder of Securities of that series may petition any court of
competent jurisdiction for the removal of the Trustee and the
appointment of a successor Trustee if the Trustee fails to comply
with Section
7.10.

 

A
successor Trustee as to any series of Securities shall deliver a
written acceptance of its appointment to the retiring Trustee and
to the Company. Thereupon the resignation or removal of the
retiring Trustee shall become effective, and the successor Trustee
shall have all the rights, powers and duties of the Trustee under
this Indenture. The Company shall mail a notice of the successor
Trustee’s succession to the Holders. The retiring Trustee
shall promptly transfer all property held by it as Trustee to the
successor Trustee, subject to the lien provided for in Section 7.07. Notwithstanding
replacement of the Trustee pursuant to this Section 7.08, the
Company’s obligations under Section 7.07 hereof shall
continue for the benefit of the retiring Trustee with respect to
expenses, losses and liabilities incurred by it prior to such
replacement.

 

In case
of the appointment hereunder of a successor Trustee with respect to
the Securities of one or more (but not all) series, the Company,
the retiring Trustee and each successor Trustee with respect to the
Securities of one or more series shall execute and deliver an
indenture supplemental hereto wherein each successor Trustee shall
accept such appointment and which (1) shall contain such provisions
as shall be necessary or desirable to transfer and confirm to, and
to vest in, each successor Trustee all the rights, powers, trusts
and duties of the retiring Trustee with respect to the Securities
of that or those series to which the appointment of such successor
Trustee relates, (2) shall contain such provisions as shall be
necessary or desirable to confirm that all the rights, powers,
trusts and duties of the retiring Trustee with respect to the
Securities of that or those series as to which the retiring Trustee
is not retiring shall continue to be vested in the retiring
Trustee, and (3) shall add to or change any of the provisions of
this Indenture as shall be necessary or desirable to provide for or
facilitate the administration of the trusts hereunder by more than
one Trustee; provided, however, that nothing herein or
in such supplemental indenture shall constitute such Trustees to be
co-Trustees of the same trust and that each such Trustee shall be
Trustee of a trust hereunder separate and apart from any trust
hereunder administered by any other such Trustee.

 

Upon
the execution and delivery of such supplemental indenture the
resignation or removal of the retiring Trustee shall become
effective to the extent provided therein and each such successor
Trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those
series to which the appointment of such successor Trustee
relates.

 

 

17

 

 

SECTION 7.09. Successor Trustee
by Merger, Etc.
 Subject to Section
7.10, if the Trustee consolidates with, merges or converts into, or
transfers all or substantially all of its corporate trust business
to, another corporation or national banking association, the
successor entity without any further act shall be the successor
Trustee as to that series of Securities.

 

SECTION 7.10. Eligibility;
Disqualification.
Each series of Securities shall always have a Trustee who satisfies
the requirements of TIA Section 310(a) (1), (2) and (5). The
Trustee as to any series of Securities shall always have a combined
capital and surplus of at least $100 million as set forth in its
most recent published annual report of condition. The Trustee is
subject to TIA Section 310(b).

 

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

 

ARTICLE VIII

DISCHARGE OF INDENTURE

 

SECTION 8.01. Satisfaction and
Discharge of Indenture. This Indenture shall cease to be of
further effect (except as to any surviving rights of registration
of transfer or exchange of Securities herein expressly provided
for), and the Trustee, at the expense of the Company, shall execute
proper instruments acknowledging satisfaction and discharge of this
Indenture, when

 

(a)           either

 

(i)            

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

 

(ii)            

all such Securities
not theretofore delivered to the Trustee for
cancellation

 

(1)            

have become due and
payable, or

 

(2)            

will become due and
payable at their stated maturity within one year, or

 

(3)            

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

 

(4)            

are deemed paid and
discharged pursuant to Section 8.03, as applicable;

 

and the
Company, in the case of (1), (2) or (3) above, has deposited or
caused to be deposited with the Trustee as trust funds in trust an
amount sufficient for the purpose of paying and discharging the
entire indebtedness on such Securities not theretofore delivered to
the Trustee for cancellation, for principal and interest to the
date of such deposit (in the case of Securities which have become
due and payable on or prior to the date of such deposit) or to the
stated maturity or redemption date, as the case may
be;

 

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

 

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

 

Notwithstanding the
satisfaction and discharge of this Indenture, the obligations of
the Company to the Trustee under Section 7.07, and, if money
shall have been deposited with the Trustee pursuant to clause (a)
of this Section or if money or obligations shall have been
deposited with or received by the Trustee pursuant to Section 8.03, the obligations
of the Trustee under Section 8.02 and Section 8.05 shall
survive.

 

 

18

 

 

SECTION
8.02. Application of Trust
Funds; Indemnification.

 

(a)           Subject
to the provisions of Section 8.05, all money
deposited with the Trustee pursuant to Section 8.01, all money and
U.S. Government Obligations deposited with the Trustee pursuant to
Section 8.03 or
8.04 and all money
received by the Trustee in respect of U.S. Government Obligations
deposited with the Trustee pursuant to Section 8.03 or 8.04, shall be held in trust
and applied by it, in accordance with the provisions of the
Securities and this Indenture, to the payment, either directly or
through any Paying Agent (including the Company acting as its own
Paying Agent) as the Trustee may determine, to the persons entitled
thereto, of the principal and interest for whose payment such money
has been deposited with or received by the Trustee or to make
mandatory sinking fund payments or analogous payments as
contemplated by Sections
8.03 and 8.04.

 

(b)           The
Company shall pay and shall indemnify the Trustee against any tax,
fee or other charge imposed on or assessed against U.S. Government
Obligations deposited pursuant to Sections 8.03 or 8.04 or the interest and
principal received in respect of such obligations other than any
payable by or on behalf of Holders.

 

(c)           The
Trustee shall deliver or pay to the Company from time to time upon
the request of the Company any U.S. Government Obligations or money
held by it as provided in Sections 8.03 or 8.04 which, in the opinion of a
nationally recognized firm of independent certified public
accountants expressed in a written certification thereof delivered
to the Trustee, are then in excess of the amount thereof which then
would have been required to be deposited for the purpose for which
such U.S. Government Obligations or money were deposited or
received. This provision shall not authorize the sale by the
Trustee of any U.S. Government Obligations held under this
Indenture.

 

SECTION 8.03. Legal Defeasance of
Securities of any Series. Unless this Section 8.03 is otherwise
specified to be inapplicable to Securities of any series, the
Company shall be deemed to have paid and discharged the entire
indebtedness on all the outstanding Securities of any such series
on the 91st day after the date of the deposit referred to in
subparagraph (a) hereof, and the provisions of this Indenture, as
it relates to such outstanding Securities of such series, shall no
longer be in effect (and the Trustee, at the expense of the
Company, shall, upon the request of the Company, execute proper
instruments acknowledging the same), except as to:

 

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

 

(ii)           the
Company’s obligations with respect to such Securities of such
series under Sections
2.03, 2.06
and 2.07;
and

 

(iii)           the
rights, powers, trust and immunities of the Trustee hereunder and
the duties of the Trustee under Section 8.02 and the duty of
the Trustee to authenticate Securities of such series issued on
registration of transfer of exchange;

 

provided that, the
following conditions shall have been satisfied:

 

(a)           the
Company shall have deposited or caused to be deposited irrevocably
with the Trustee as trust funds in trust for the purpose of making
the following payments, specifically pledged as Security for and
dedicated solely to the benefit of the Holders of such Securities,
cash in U.S. Dollars and/or U.S. Government Obligations which
through the payment of interest and principal in respect thereof,
in accordance with their terms, will provide (and without
reinvestment and assuming no tax liability will be imposed on such
Trustee), not later than one day before the due date of any payment
of money, an amount in cash, sufficient, in the opinion of a
nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the
Trustee, to pay and discharge each installment of principal
(including mandatory sinking fund or analogous payments) of and
interest, if any, on all the Securities of such series on the dates
such installments of interest or principal are due;

 

(b)           such
deposit will not result in a breach or violation of, or constitute
a default under, this Indenture;

 

 

19

 

 

(c)           no
Default or Event of Default with respect to the Securities of such
series shall have occurred on the date of such deposit and 91 days
shall have passed after the deposit has been made, and, during such
91 day period, no Default specified in Section 6.0l(iv) or (v) with
respect to the Company occurs which is continuing at the end of
such period;

 

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

 

(e)           the
Company shall have delivered to the Trustee an Officers’
Certificate stating that the deposit was not made by the Company
with the intent of preferring the Holders of the Securities of such
series over any other creditors of the Company or with the intent
of defeating, hindering, delaying or defrauding any other creditors
of the Company;

 

(f)           such
deposit shall not result in the trust arising from such deposit
constituting an investment company (as defined in the Investment
Company Act of 1940, as amended), or such trust shall be qualified
under such Act or exempt from regulation thereunder;
and

 

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

 

SECTION 8.04. Covenant
Defeasance. Unless
this Section 8.04
is otherwise inapplicable to Securities of any series, on and after
the 91st day after the date of the deposit referred to in
subparagraph (a) hereof, the Company may omit to comply with any
term, provision or condition set forth under Sections 4.03, 4.04 and 4.05 as well as any additional
covenants contained in a supplemental indenture hereto for a
particular series of Securities or a Board Resolution or an
Officers’ Certificate delivered pursuant to Section 2.01 (and the failure
to comply with any such provisions shall not constitute a Default
or Event of Default under Section 6.01) and the
occurrence of any event described in clause (e) of Section 6.01 shall not
constitute a Default or Event of Default hereunder, with respect to
the Securities of such series, provided that the following
conditions shall have been satisfied:

 

(a)           With
reference to this Section
8.04, the Company has deposited or caused to be irrevocably
deposited (except as provided in Section 8.03) with the Trustee
as trust funds in trust, specifically pledged as Security for, and
dedicated solely to, the benefit of the Holders of such Securities,
cash in U.S. Dollars and/or U.S. Government Obligations which
through the payment of interest and principal in respect thereof,
in accordance with their terms, will provide (and without
reinvestment and assuming no tax liability will be imposed on such
Trustee), not later than one day before the due date of any payment
of money, an amount in cash, sufficient, in the opinion of a
nationally recognized firm of independent certified public
accountants expressed in a written certification thereof delivered
to the Trustee, to pay principal and interest, if any, on and any
mandatory sinking fund in respect of the Securities of such series
on the dates such installments of interest or principal are
due;

 

(b)           Such
deposit will not result in a breach or violation of, or constitute
a default under, this Indenture;

 

(c)           No
Default or Event of Default with respect to the Securities of such
series shall have occurred on the date of such deposit and 91 days
shall have passed after the deposit has been made, and, during such
91 day period, no Default specified in Section 6.01(iv) or (v) with
respect to the Company occurs which is continuing at the end of
such period;

 

(d)           The
Company shall have delivered to the Trustee an Opinion of Counsel
confirming that Holders of the Securities of such series will not
recognize income, gain or loss for federal income tax purposes as a
result of such deposit and defeasance and will be subject to
federal income tax on the same amounts, in the same manner and at
the same times as would have been the case if such deposit and
defeasance had not Occurred;

 

(e)           The
Company shall have delivered to the Trustee an Officers’
Certificate stating the deposit was not made by the Company with
the intent of preferring the Holders of the Securities of such
series over any other creditors of the Company or with the intent
of defeating, hindering, delaying or defrauding any other creditors
of the Company; and

 

 

20

 

 

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

 

SECTION 8.05. Repayment to
Company. The Trustee
and the Paying Agent shall pay to the Company upon request any
money held by them for the payment of principal or interest that
remains unclaimed for two years after the date upon which such
payment shall have become due. After payment to the Company,
Holders entitled to the money must look to the Company for payment
as general creditors unless an applicable abandoned property law
designates another Person.

 

ARTICLE IX

AMENDMENTS, SUPPLEMENTS AND WAIVERS

 

SECTION 9.01. Without Consent of
Holders. The Company
and the Trustee may amend this Indenture or the Securities without
the consent of any Holder: (i) to cure any ambiguity, defect or
inconsistency or make any change required to qualify the indenture
under the TIA, provided that such change does not adversely affect
the rights hereunder of any Holder in any material respect; (ii) to
comply with Section
5.01; (iii) to provide for uncertificated Securities in
addition to certificated Securities; (iv) to make any change that
does not adversely affect in any material respect the rights
hereunder of any Holder; (v) to add to, change or eliminate any of
the provisions of this Indenture in respect of one or more series
of Securities, provided, however, that any such
addition, change or elimination (A) shall neither (i) apply to any
Security of any series created prior to the execution of such
supplemental indenture and entitled to the benefit of such
provision nor (ii) modify the rights of the holder of any such
Security with respect to such provision or (B) shall become
effective only when there is no outstanding Security of any series
created prior to the execution of such supplemental indenture and
entitled to the benefit of such provisions; or (vi) to establish
additional series of Securities as permitted by Section 2.01.

 

SECTION 9.02. With Consent of
Holders. The Company
and the Trustee as to any series of Securities may amend this
Indenture or the Securities of that series or waive compliance in
any particular instance with any provision of this Indenture or the
Securities of that series, in each case with the written consent of
the Holders of at least a majority in principal amount of the then
outstanding Securities of that series.

 

Without
the consent of each Holder affected, an amendment or waiver under
this Section may not: (i) reduce the principal amount of
Securities, whose Holders must consent to an amendment or waiver;
(ii) reduce the rate of or change the time for payment of interest
on any Security; (iii) change the date on which any Security may be
subject to redemption or repurchase, or reduce the redemption or
repurchase price therefor; (iv) make any Security payable in
currency other than that stated in the Security; or (v) make any
change in Section
6.04, 6.07
or this sentence.

 

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

 

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

 

The
Company will mail supplemental indentures to Holders upon request.
Any failure of the Company to mail such notice, or any defect
therein, shall not, however, in any way impair or affect the
validity of any such supplemental indenture or waiver.

 

SECTION 9.03. Compliance with
Trust Indenture Act.
Every amendment to this Indenture or the Securities shall be set
forth in a supplemental indenture that complies with the TIA as
then in effect.

 

 

21

 

 

SECTION 9.04. Revocation and
Effect of Consents.
Until an amendment or waiver becomes effective, a consent to it by
a Holder of a Security is a continuing consent by the Holder and
every subsequent Holder of a Security or portion of a Security that
evidences the same debt as the consenting Holder’s Security,
even if notation of the consent is not made on any Security;
provided,
however, that
unless a record date shall have been established pursuant to
Section 2.14, any
such Holder or subsequent Holder may revoke the consent as to his
Security or portion of a Security if the Trustee receives written
notice of revocation before the date the amendment or waiver
becomes effective. An amendment or waiver becomes effective on
receipt by the Trustee of consents from the Holders of the
requisite percentage principal amount of the outstanding Securities
of any series, and thereafter shall bind every Holder of Securities
of that series.

 

SECTION 9.05. Notation on or
Exchange of Securities. If an amendment or waiver changes the
terms of a Security: (a) the Trustee may require the Holder of the
Security to deliver such Security to the Trustee, the Trustee may
place an appropriate notation on the Security about the changed
terms and return it to the Holder and the Trustee may place an
appropriate notation on any Security thereafter authenticated; or
(b) if the Company or the Trustee so determines, the Company in
exchange for the Security shall issue and the Trustee shall
authenticate a new Security that reflects the changed
terms.

 

SECTION 9.06. Trustee to Sign
Amendment, etc. The Trustee shall sign any
amendment authorized pursuant to this Article IX if the amendment
does not adversely affect the rights, duties, liabilities or
immunities of the Trustee. If it does, the Trustee may, but need
not sign it. In signing or refusing to sign such amendment, the
Trustee shall be entitled to receive and shall be fully protected
in relying upon an Officers’ Certificate and an Opinion of
Counsel as conclusive evidence that such amendment is authorized or
permitted by this Indenture and that such amendment, supplement or
waiver is the legal, valid and binding obligation of the Company,
enforceable against it in accordance with its terms, subject to
customary exceptions, and complies with the provisions hereof
(including Section
9.03).

 

ARTICLE X

MISCELLANEOUS

 

SECTION 10.01. Trust Indenture Act
Controls. This
Indenture is subject to the provisions of the TIA which are
required to be part of this Indenture, and shall, to the extent
applicable, be governed by such provisions.

 

SECTION 10.02. Notices.
Any notice or communication to the Company or the Trustee is duly
given if in writing and delivered in person or mailed by
first-class mail to the address set forth below:

 

If to
the Company:

 

	

United
States Antimony Corporation

	

47
Cox Gulch

	

P.O.
Box 643

	

Thompson Falls,
Montana 59873

	

Attn:
Chief Executive Officer

406-827-3523

 

with a
copy to:

 

Pryor
Cashman LLP

7 Times
Square

New
York, New York 10036

Attention: Ali
Panjwani, Esq.

 

 

22

 

 

If to
the Trustee:

 

[____________________]

_____________________

_____________________

_____________________

Attention:
____________

 

With a
copy to:

 

_____________________

_____________________

_____________________

Attention:
____________

 

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

 

Any
notice or communication to a Holder shall be mailed by first-class
mail to his address shown on the register kept by the registrar.
Failure to mail a notice or communication to a Holder or any defect
in such notice or communication shall not affect its sufficiency
with respect to other Holders.

 

If a
notice or communication is mailed or sent in the manner provided
above within the time prescribed, it is duly given, whether or not
the addressee receives it, except that notice to the Trustee shall
only be effective upon receipt thereof by the Trustee.

 

If the
Company mails a notice or communication to Holders, it shall mail a
copy to the Trustee and each Agent at the same time.

 

SECTION 10.03. Communication by
Holders with Other Holders. Holders may communicate pursuant to
TIA Section 312(b) with other Holders with respect to their rights
under this Indenture or the Securities. The Company, the Trustee,
the registrar and anyone else shall have the protection of TIA
Section 312 (c)

 

SECTION 10.04. Certificate and
Opinion as to Conditions Precedent. Upon any request or application by the
Company to the Trustee to take any action under this Indenture, the
Company shall furnish to the Trustee: (1) an Officers’
Certificate (which shall include the statements set forth in
Section 10.05) stating that, in the opinion of the signers, all
conditions precedent and covenants, if any, provided for in this
Indenture relating to the proposed action have been complied with;
and (ii) an Opinion of Counsel (which shall include the statements
set forth in Section 10.05) stating that, in the opinion of such
counsel, all such conditions precedent and covenants have been
complied with.

 

SECTION 10.05. Statements Required
in Certificate or Opinion. Each certificate (other than
certificates provided pursuant to Section 4.04) or opinion with
respect to compliance with a condition or covenant provided for in
this Indenture shall include: (i) a statement that the person
making such certificate or opinion has read such covenant or
condition; (ii) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; (iii) a
statement that, in the opinion of such person, he or she has made
such examination or investigation as is necessary to enable him to
express an informed opinion as to whether or not such covenant or
condition has been complied with; and (iv) a statement as to
whether or not, in the opinion of such person, such condition or
covenant has been complied with; provided, however, that with respect to
matters of fact, an Opinion of Counsel may rely on an
Officers’ Certificate or certificate of public
officials.

 

SECTION 10.06. Rules by Trustee
and Agents. The
Trustee may make reasonable rules for action by or for a meeting of
Holders. The Registrar or Paying Agent may make reasonable rules
and set reasonable requirements for its functions.

 

 

23

 

 

SECTION 10.07. Legal
Holidays. A
“Legal
Holiday” is a Saturday, a Sunday or a day on which
banking institutions in the City of New York are not required or
authorized to be open. If a payment date is a Legal Holiday at a
place of payment, payment may be made at that place on the next
succeeding day that is not a Legal Holiday, and no interest shall
accrue for the intervening period.

 

SECTION 10.08. Duplicate
Originals. The
parties may sign any number of copies of this Indenture. One signed
copy is enough to prove this Indenture.

 

SECTION 10.09. Governing
Law. The internal
laws of the State of [___________] shall govern this Indenture and
the Securities, without regard to the conflicts of Law rules
thereof.

 

SECTION 10.10. No Adverse
Interpretation of Other Agreements. This Indenture may not be used to
interpret another indenture, loan or debt agreement of the Company
or any subsidiary. Any such indenture, loan or debt agreement may
not be used to interpret this Indenture.

 

SECTION 10.11. Successors.
All agreements of the Company in this Indenture and the Securities
shall bind their respective successors. All agreements of the
Trustee in this Indenture shall bind its successor.

 

SECTION 10.12. Severability.
In case any provision in this Indenture or in the Securities shall
be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be
affected or impaired thereby.

 

SECTION 10.13. Counterpart
Originals. This
Indenture may be signed in one or more counterparts. Each signed
copy shall be an original, but all of them together represent the
same agreement.

 

	
 

	
 

United
States Antimony Corporation

 

By:                                                       
      

Name:

Title:

 

Dated:                                                                

 

 

[                                                       
]

 

 

By:                                                       

Name:

Title:

 

Dated:                                                                

 

 

24

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