Document:

EX-4.5

 Exhibit 4.5 

SIXTH SUPPLEMENTAL INDENTURE 

dated as of February 10, 2020 

between 
 STANLEY
BLACK & DECKER, INC., 
 Issuer 

and 
 HSBC BANK USA, NATIONAL
ASSOCIATION, 
 Trustee 
 to

 INDENTURE 
 dated as
of November 22, 2005 
 providing for the issuance of 

$750,000,000 
 4.000% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures due 2060 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	
	ARTICLE 1	  

	
	Definitions	  

			
	 Section 1.01
	 	 Definition of Terms
	  	 	1	 
	 Section 1.02
	 	 Interpretation
	  	 	5	 
	
	ARTICLE 2	  

	
	General Terms and Conditions of the Debentures	  

			
	 Section 2.01
	 	 Designation and Principal Amount
	  	 	5	 
	 Section 2.02
	 	 Maturity
	  	 	6	 
	 Section 2.03
	 	 Form of Notes, Authentication Certificate
	  	 	6	 
	 Section 2.04
	 	 Denominations
	  	 	6	 
	 Section 2.05
	 	 Global Securities
	  	 	6	 
	 Section 2.06
	 	 Interest Rate; Interest Payment Date; Interest Calculations; Payments on Business Days
	  	 	6	 
	 Section 2.07
	 	 Paying Agent; Security Registrar; Transfer Agent; Calculation Agent
	  	 	6	 
	 Section 2.08
	 	 Initial Authentication of Debentures
	  	 	7	 
	
	ARTICLE 3	  

	
	Deferral of Interest; Restricted Payments on Deferral	  

			
	 Section 3.01
	 	 Optional Interest Deferral
	  	 	7	 
	 Section 3.02
	 	 Restricted Payments on Deferral
	  	 	7	 
	
	ARTICLE 4	  

	
	Redemption of the Debentures	  

			
	 Section 4.01
	 	 Optional Redemption
	  	 	9	 
	 Section 4.02
	 	 Tax Event Redemption
	  	 	10	 
	 Section 4.03
	 	 Rating Agency Event Redemption
	  	 	10	 
	 Section 4.04
	 	 Redemption Procedures
	  	 	10	 
	
	ARTICLE 5	  

	
	Subordination	  

			
	 Section 5.01
	 	 Agreement to Subordinate
	  	 	10	 
	 Section 5.02
	 	 Default on Senior Indebtedness
	  	 	10	 
	 Section 5.03
	 	 Liquidation; Dissolution; Bankruptcy
	  	 	11	 
	 Section 5.04
	 	 Subrogation
	  	 	12	 
	 Section 5.05
	 	 Trustee to Effectuate Subordination
	  	 	13	 

  
 ii 

							
	 Section 5.06
	 	 Notice by the Company
	  	 	13	 
	 Section 5.07
	 	 Rights of the Trustee; Holders of Senior Indebtedness
	  	 	13	 
	 Section 5.08
	 	 Subordination May Not be Impaired
	  	 	14	 
	 Section 5.09
	 	 No Right to Rely on Other Covenants
	  	 	14	 
	
	ARTICLE 6	  

	
	Events of Default	  

			
	 Section 6.01
	 	 Events of Default
	  	 	14	 
	
	ARTICLE 7	  

	
	U.S. Successor Corporation	  

			
	 Section 7.01
	 	 U.S. Successor Corporation
	  	 	15	 
	
	ARTICLE 8	  

	
	Applicability of Satisfaction, Defeasance and Covenant Defeasance	  

			
	 Section 8.01
	 	 Applicability of Satisfaction and Discharge
	  	 	15	 
	 Section 8.02
	 	 Applicability of Defeasance and Covenant Defeasance
	  	 	15	 
	
	ARTICLE 9	  

	
	Miscellaneous	  

			
	 Section 9.01
	 	 Ratification of Indenture
	  	 	15	 
	 Section 9.02
	 	 Trustee Not Responsible for Recitals
	  	 	15	 
	 Section 9.03
	 	 Governing Law
	  	 	15	 
	 Section 9.04
	 	 Treatment of the Debentures as Debt
	  	 	16	 
	 Section 9.05
	 	 Separability
	  	 	16	 
	 Section 9.06
	 	 Counterparts
	  	 	16	 
	 Section 9.07
	 	 Amendments to Indenture
	  	 	16	 

  
 iii 

 THIS SIXTH SUPPLEMENTAL INDENTURE, dated as of February 10, 2020 (this
“Supplemental Indenture”), is between Stanley Black & Decker, Inc., a Connecticut corporation (the “Company”), and HSBC Bank USA, National Association, not in its individual capacity but solely as trustee
(and any successor trustee, the “Trustee”) under the Indenture, dated as of November 22, 2005, between the Company and the Trustee (the “Indenture”). 

W I T N E S S E T H: 

WHEREAS, the Company executed and delivered the Indenture to the Trustee to provide for the future issuance of the Company’s
unsecured junior subordinated debt securities, to be issued from time to time in one or more series as might be determined by the Company under the Indenture, in an unlimited aggregate principal amount which may be authenticated and delivered as
provided in the Indenture; 
 WHEREAS, pursuant to the terms of the Indenture, the Company desires to provide for the establishment
of a new series of its junior subordinated debt securities under the Indenture to be known as its 4.000% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures due
2060 (the “Debentures”), the form of the Debentures and the terms and conditions thereof to be set forth as provided in the Indenture and this Supplemental Indenture; and 

WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture, and all requirements necessary to
make this Supplemental Indenture a legal, valid and binding instrument, in accordance with its terms, and to make the Debentures, when executed by the Company and authenticated and delivered by the Trustee, the legal, valid and binding obligations
of the Company, have been performed, and the execution and delivery of this Supplemental Indenture has been duly authorized in all respects. 

NOW, THEREFORE, in consideration of the purchase and acceptance of the Debentures by the holders thereof, and for the purpose of
setting forth, as provided in the Indenture, the form of the Debentures and the terms and conditions thereof, the Company covenants and agrees with the Trustee as follows: 

ARTICLE 1 

DEFINITIONS 

Section 1.01    Definition of Terms. Unless the context otherwise requires: 

(a)    a term defined in the Indenture and not otherwise defined in this Supplemental Indenture has the meaning set forth
in the Indenture when used in this Supplemental Indenture; 
 (b)    a term defined anywhere in this Supplemental
Indenture has the same meaning throughout; 
 (c)    a term defined in the Indenture but otherwise defined in this
Supplemental Indenture has the meaning set forth in this Supplemental Indenture when used anywhere in the Indenture; and 

(d)    all financial terms used in this Supplemental Indenture will be determined in accordance with GAAP, except as
expressly provided in the definitions of the terms set forth herein. 

 In addition, the following terms have the following respective meanings: 

“Business Day” means any day that is not a Saturday, a Sunday, or a day on which banking institutions or trust companies in
New York City are generally authorized or required by law or executive order to remain closed. 
 “Calculation Agent” means
any Person, including any of the Company’s Affiliates, appointed by the Company from time to time to act as calculation agent. 

“Company” shall have the meaning set forth in the preamble of this Supplemental Indenture. 

“Comparable Treasury Issue” means the U.S. Treasury security or securities selected by an Independent Investment Banker as
having an actual or interpolated maturity comparable to the remaining term of the Debentures to be redeemed (assuming for this purpose that the Debentures mature on the next succeeding Reset Date) that would be utilized, at the time of selection and
in accordance with customary financial practice, in pricing new issues of corporate debt securities of a maturity comparable to the remaining term of such Debentures. 

“Comparable Treasury Price” means, with respect to any redemption date, (a) the arithmetic average, as determined by the
Company, of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations; or (b) if the Company obtains fewer than four such Reference Treasury Dealer
Quotations, the arithmetic average, as determined by the Company, of all such quotations for such redemption date. 

“Debentures” shall have the meaning set forth in the recitals of this Supplemental Indenture. 

“Equity Unit Transaction” means an offering of units by the Company consisting of a debt or preferred equity security issued
by the Company and a purchase contract or similar agreement with the Company providing for the issuance of the capital stock of the Company in which the holder of such purchase contract is obligated to purchase the capital stock of the Company on a
forward basis and the obligation to pay the purchase price for such capital stock is secured by the proceeds derived from a remarketing of the debt or preferred equity security and is backstopped by the right to put such security to the Company for
the purchase price, or any similar offering of units or similar transaction designed to secure equity credit from a Rating Agency. 

“Event of Default” shall have the meaning set forth in Section 6.01(a). 

“Five-Year Treasury Rate” means, as of any Reset Interest Determination Date, the average of the yields on actively traded
U.S. treasury securities adjusted to constant maturity, for five-year maturities, for the most recent five business days appearing under the caption “Treasury Constant Maturities” in the Most Recent H.15; provided that if the
Five-Year Treasury Rate cannot be determined pursuant to the method described above, the Calculation Agent, after consulting such sources as it deems comparable to any of the foregoing calculations, or any such source as it deems reasonable from
which to estimate the Five-Year Treasury Rate, shall determine the Five-Year Treasury Rate in its sole discretion, provided that if the Calculation Agent determines there is an industry-accepted successor Five-Year Treasury Rate, then the
Calculation Agent shall use such successor rate. If the Calculation Agent has determined a substitute or successor base rate in accordance with the foregoing, the Calculation Agent in its sole discretion may determine the business day convention,
the definition of business day and the Reset Interest Determination Date to be used and any other relevant methodology for calculating such substitute or successor base rate, including any adjustment factor needed to make such substitute or
successor base rate comparable to the Five-Year Treasury Rate, in a manner that is consistent with industry-accepted practices for such substitute or successor base rate. 

 “GAAP” means, with respect to any computation required or permitted
hereunder, such accounting principles as are generally accepted in the United States of America at the date or time of such computation. 

“Global Security” shall have the meaning set forth in Section 1.01 of the Indenture. 

“H.15” means the daily statistical release designated as such, or any successor publication as determined by the Calculation
Agent in its sole discretion, published by the Board of Governors of the United States Federal Reserve System. 

“Indenture” shall have the meaning set forth in the preamble of this Supplemental Indenture. 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company; provided that if such
Reference Treasury Dealer ceases to be a Primary Treasury Dealer, the Company will substitute another Primary Treasury Dealer. 

“Interest Payment Date” shall have the meaning set forth in Section 2.06(b). 

“Interest Period” means the period beginning on and including February 10, 2020 to, but excluding, the next Interest
Payment Date, and each successive period beginning on and including an Interest Payment Date to, but excluding, the next Interest Payment Date. 

“Most Recent H.15” means the H.15 published closest in time but prior to the close of business on the Reset Interest
Determination Date. 
 “Optional Deferral Period” shall have the meaning set forth in Section 3.01(a). 

“Par Call Date” means March 15, 2025. 

“Purchase Contract and Pledge Agreements” means (i) the Purchase Contract and Pledge Agreement, dated as of May 17,
2017, among the Company, The Bank of New York Mellon Trust Company, National Association, as purchase contract agent and attorney-in-fact for holders of the purchase
contracts, and HSBC Bank USA, National Association, as collateral agent, custodial agent and securities intermediary, as amended from time to time and (ii) the Purchase Contract and Pledge Agreement, dated as of November 13, 2019, among
the Company, The Bank of New York Mellon Trust Company, National Association, as purchase contract agent and attorney-in-fact for holders of the purchase contracts, and
HSBC Bank USA, National Association, as collateral agent, custodial agent and securities intermediary, as amended from time to time. 

“Rating Agency” means any nationally recognized statistical rating organization within the meaning of Section 3(a)(62)
of the Exchange Act. 
 “Rating Agency Event” means an amendment, clarification or change in the criteria a Rating Agency
uses to assign equity credit to securities such as the Debentures, which amendment, clarification or change results in (1) the shortening of the length of time the Debentures are assigned a particular level of equity credit by that rating
agency as compared to the length of time they would have been assigned that level of equity credit by that rating agency or its predecessor on the initial issuance of the Debentures; or (2) the lowering of the equity credit (including up to a
lesser amount) assigned to the Debentures by that rating agency as compared to the equity credit assigned by that rating agency or its predecessor on the initial issuance of the Debentures. 

 “Reference Treasury Dealer” means each of BofA Securities, Inc., Citigroup
Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC (or one of their respective successors or affiliates upon written notification to the Company); provided that if any of the foregoing
dealers shall cease to be a primary U.S. Government securities dealer in the U.S. (a “Primary Treasury Dealer”), the Company will substitute another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the
arithmetic average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at
3:30 p.m., New York City time, on the third business day preceding such redemption date. 
 “Reset Date” means the Par Call
Date and each date falling on the fifth anniversary of the preceding Reset Date. 
 “Reset Interest Determination Date”
means, in respect of any Reset Period, the day falling two business days prior to the beginning of such Reset Period. 
 “Reset
Period” means the period from and including the Par Call Date to, but excluding, the next following Reset Date and thereafter each period from and including each Reset Date to, but excluding, the next following Reset Date. 

“Senior Indebtedness” means all of the obligations of the Company, whether presently existing or from time to time hereafter
incurred, created, assumed or existing, to pay principal, premium, interest, penalties, fees and any other payment in respect of any of the following: (a) indebtedness for borrowed money, including, without limitation, such obligations as are
evidenced by credit agreements, notes, debentures, bonds and similar instruments; (b) obligations under synthetic leases, finance leases and capitalized leases; (c) obligations for reimbursement under letters of credit, banker’s
acceptances, security purchase facilities or similar facilities issued for the account of the Company; (d) any obligations with respect to derivative contracts, including but not limited to commodity contracts, interest rate, commodity and
currency swap agreements, forward contracts and other similar agreements or arrangements designed to protect against fluctuations in commodity prices, currency exchange or interest rates; and (e) all obligations of the types referred to in
clauses (a), (b), (c) and (d) above of others which the Company has assumed, guaranteed or otherwise becomes liable for, under any agreement, unless, in the case of any particular indebtedness or obligation, the instrument creating or
evidencing the same or the assumption or guarantee of the same expressly provides that such indebtedness or obligation is not superior in right of payment to or is equal in right of payment with the Debentures, as the case may be; provided that
trade obligations incurred by the Company in its ordinary course of business shall not be deemed to be Senior Indebtedness. 

“Supplemental Indenture” shall have the meaning provided in the preamble hereto. 

“Tax Event” means that the Company shall have received an opinion of a nationally recognized counsel experienced in U.S.
federal income tax matters that, as a result of (a) any amendment to, clarification of, or change, including any announced prospective change, in the laws or treaties of the U.S. or any of its political subdivisions or taxing authorities, or
any regulations 

 
under those laws or treaties, (b) an administrative action, which means any judicial decision or any official administrative pronouncement, ruling, regulatory procedure, notice or
announcement including any notice or announcement of intent to issue or adopt any administrative pronouncement, ruling, regulatory procedure or regulation, (c) any amendment to, clarification of, or change in the official position or the
interpretation of any administrative action or judicial decision or any interpretation or pronouncement that provides for a position with respect to an administrative action or judicial decision that differs from the previously generally-accepted
position, in each case by any legislative body, court, governmental authority or regulatory body, regardless of the time or manner in which that amendment, clarification or change is introduced or made known; or (d) any threatened challenge
asserted in writing in connection with an audit of the Company or any of its Subsidiaries, or a publicly-known threatened challenge asserted in writing against any other taxpayer that has raised capital through the issuance of securities that are
substantially similar to the Debentures, which amendment, clarification, or change is effective or the administrative action is taken or judicial decision, interpretation or pronouncement is issued or threatened challenge is asserted or becomes
publicly-known after February 3, 2020, and there is more than an insubstantial risk that interest payable by the Company on the Debentures is not deductible, or within 90 days would not be deductible, in whole or in part, by the Company for
U.S. federal income tax purposes. 
 “Treasury Rate” means, with respect to any redemption date, the rate per annum equal
to the semi-annual equivalent yield to maturity or interpolated (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such redemption date. 
 “Trustee” shall have the meaning set forth in the preamble of this Supplemental
Indenture. 
 Section 1.02    Interpretation. Each definition in this Supplemental Indenture includes
the singular and the plural, and references to the neuter gender include the masculine and feminine where appropriate. References to any statute mean such statute as amended at the time and include any successor legislation. The word “or”
is not exclusive, and, unless the context otherwise requires, the words “herein,” “hereof” and “hereunder” refer to this Supplemental Indenture as a whole. The headings to the Articles and Sections are for convenience
of reference and shall not affect the meaning or interpretation of this Supplemental Indenture. References to Articles and Sections mean the Articles and Sections of this Supplemental Indenture. 

ARTICLE 2 
 GENERAL
TERMS AND CONDITIONS OF THE DEBENTURES 
 Section 2.01    Designation and Principal Amount.
(a) There is hereby authorized under the Indenture a series of Debt Securities designated the “4.000% Fixed-to-Fixed Reset Rate Junior Subordinated
Debentures due 2060.” 
 (b)    The Company will initially issue $750,000,000 aggregate principal amount of the
Debentures. The Company may from time to time, without notice to or consent of the Holders of the Debentures, issue additional Debentures of the same tenor, coupon and other terms (except for the issue date, issue price, interest accrued prior to
the issue date of the additional Debentures and the first Interest Payment Date) as the Outstanding Debentures, so that the additional Debentures and the then Outstanding Debentures will form a single series with the same CUSIP number as the
Outstanding Debentures, provided that such additional Debentures are fungible for U.S. federal income tax purposes with the Outstanding Debentures. Additional Debentures that are not fungible with the Outstanding Debentures for U.S. federal income
tax purposes may be issued under a different CUSIP. 

 Section 2.02    Maturity. Subject to earlier
redemption under Article 4, the principal of the Debentures is payable on March 15, 2060. 

Section 2.03    Form of Notes, Authentication Certificate. The Debentures and the Trustee’s
Certificate of Authentication to be endorsed thereon shall be substantially in the form set forth in Exhibit A hereto, with such changes therein as the officers of the Company executing the Debentures (by manual or facsimile signature) may approve,
such approval to be conclusively evidenced by their execution thereof. Except as otherwise provided herein, the Debentures shall in all respects be subject to the terms, conditions and covenants of the Indenture as supplemented by this Supplemental
Indenture, including the form of Debenture set forth as Exhibit A hereto (the terms of which are incorporated in and made a part of this Supplemental Indenture). The Debentures may be signed by the Company without a corporate seal or attestation. In
the event of any inconsistency between the provisions of this Supplemental Indenture and the provisions of the Indenture, the provisions of this Supplemental Indenture shall be controlling with respect to the Debentures. 

Section 2.04    Denominations. The Debentures shall be issuable in minimum denominations of $2,000 and
integral multiples of $1,000 in excess thereof. 
 Section 2.05    Global Securities. The Debentures
will be issued as Global Securities under Section 2.11 of the Indenture. 
 Section 2.06    Interest Rate;
Interest Payment Date; Interest Calculations; Payments on Business Days. (a) The Debentures will bear interest from and including February 10, 2020 to, but excluding, the Par Call Date at the rate of 4.000% per annum, subject to
deferral in accordance with Article 3. Beginning on the Par Call Date, during each Reset Period, the Debentures will bear interest at a rate per annum equal to the Five-Year Treasury Rate as of the most recent Reset Interest Determination Date, plus
2.657%, subject to deferral in accordance with Article 3, to be reset on each Reset Date. 
 (b)    Interest on the
Debentures for any Interest Period will be payable semi-annually in arrears on March 15 and September 15, beginning September 15, 2020, or, if any of these days is not a Business Day, on the next Business Day (each such date, an
“Interest Payment Date”), and no interest will accrue as a result of that postponement. 
 (c)    The
amount of interest payable on the Debentures for any Interest Period will be computed on the basis of a 360-day year consisting of twelve 30-day months. 

(d)    The Company shall pay or cause to be paid interest on the Debentures to the Persons in whose names the Debentures
are registered on the applicable record date, which, with respect to each Interest Payment Date, means the close of business on (a) the Business Day immediately preceding such Interest Payment Date so long as all of the Debentures are
represented by one or more Global Securities, and (b) the March 1 or September 1 (whether or not such day is a Business Day), as applicable, immediately preceding each Interest Payment Date if any of the Debentures are no longer
represented by a Global Security. 
 Section 2.07    Paying Agent; Security Registrar; Transfer Agent;
Calculation Agent. (a) HSBC Bank USA, National Association shall be the paying agent, securities registrar and transfer agent for the Debentures. 

 (b)    Unless the Company has validly redeemed all Outstanding
Debentures on the Par Call Date, the Company will appoint a Calculation Agent with respect to the Debentures prior to the Reset Interest Determination Date preceding the Par Call Date. The applicable interest rate and the amount of interest for each
Reset Period will be determined by the Calculation Agent, as of the applicable Reset Interest Determination Date. Promptly upon such determination, the Calculation Agent will notify the Company of the interest rate and the amount of interest for the
relevant Reset Period. The Company shall then promptly notify the Trustee and the paying agent in writing of such interest rate. The Calculation Agent’s determination of any interest rate and its calculation of the amount of interest for any
Reset Period beginning on or after the Par Call Date will be conclusive and binding absent manifest error, may be made in the Calculation Agent’s sole discretion and, notwithstanding anything to the contrary in the documentation relating to the
Debentures, shall become effective without consent from any other party. Such determination of any interest rate and calculation of the amount of interest will be on file at the Company’s principal offices and will be made available to any
Holder of the Debentures upon request. 
 Section 2.08    Initial Authentication of Debentures.
Debentures in the aggregate principal amount of $750,000,000 may, upon execution of this Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver
said Debentures to or upon the written order of the Company pursuant to Section 2.04 of the Indenture, without any further action by the Company (other than as required by the Indenture). 

ARTICLE 3 

DEFERRAL OF INTEREST; RESTRICTED PAYMENTS ON DEFERRAL 

Section 3.01    Optional Interest Deferral. (a) So long as there is no Event of Default, the
Company may defer interest payments on the Debentures, from time to time, for one or more periods (each, an “Optional Deferral Period”) of up to five consecutive years per Optional Deferral Period. However, a deferral of interest
payments cannot extend beyond the maturity date of the Debentures. During an Optional Deferral Period, interest will continue to accrue on the Debentures, compounded semi-annually, and deferred interest payments will accrue additional interest at a
rate equal to the then applicable interest rate, to the extent permitted by applicable law. No interest will be due and payable on the Debentures until the end of an Optional Deferral Period except upon a redemption of the Debentures during the
Optional Deferral Period. An Optional Deferral Period shall be deemed to have commenced on an Interest Payment Date on which the Company has not paid the full amount of accrued interest then due. 

(b)    The Company may pay at any time all or any portion of the interest accrued to that point during an Optional
Deferral Period. At the end of the Optional Deferral Period or on any redemption date, the Company will be obligated to pay all accrued and unpaid interest. 

(c)    Once all accrued and unpaid interest on the Debentures has been paid, the Company can again defer interest payments
on the Debentures as described above, provided that an Optional Deferral Period cannot extend beyond the maturity date of the Debentures. 

(d)    If the Company defers interest for a period of five consecutive years from the commencement of an Optional Deferral
Period, the Company will be required to pay all accrued and unpaid interest at the conclusion of the five-year period. 

 Section 3.02    Restricted Payments on Deferral.
(a) During any Optional Deferral Period, the Company shall not, and shall cause its majority-owned Subsidiaries not to: 

(i)    declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation
payment with respect to, any shares of the Company’s capital stock; 
 (ii)    make any payment of
principal of, or interest or premium, if any, on, or repay, purchase or redeem any of the Company’s indebtedness that ranks equal in right of payment with, or junior in interest to, the Debentures; 

(iii)    make any payment under any purchase contract or similar agreement providing for the issuance by
the Company of capital stock on a forward basis (including the Purchase Contract and Pledge Agreements); or 

(iv)    make any guarantee payments regarding any guarantee by the Company of indebtedness of any other
party if the guarantee ranks equal in right of payment with, or junior in interest to, the Debentures. 
 (b)    The
restrictions set forth in Section 3.02(a) shall not apply to: 
 (i)    payments on indebtedness or
preferred stock issued in connection with an Equity Unit Transaction to the extent that the Company is not permitted to defer such payments or cannot settle any related purchase contracts or successfully remarket such indebtedness or preferred stock
if the Company fails to make such payments; provided that to the extent that the Company is allowed to satisfy its obligations to make such payments through the issue of deferral or other similar pay-in-kind securities that rank equal in right of payment with, or junior to, the Debentures, the Company shall do so; provided further, that the Company shall be permitted to make any required payments on
such deferral or similar pay-in-kind securities that rank equal in right of payment with, or junior to, the Debentures to the extent required pursuant to the terms
thereof; 
 (ii)    payments under any purchase contract or similar agreement providing for the issuance
by the Company of capital stock on a forward basis (including the Purchase Contract and Pledge Agreements) to the extent that the Company is not permitted to defer such payments or cannot settle such purchase contracts or successfully remarket any
related securities if the Company fails to make such payments; 
 (iii)    any dividend or other
distribution on the capital stock of the Company in capital stock of the Company, or warrants, options or rights to acquire the capital stock of the Company, other than any indebtedness convertible into the Company’s capital stock; 

(iv)    any exchange, redemption or conversion of any class or series of the capital stock of the Company
for or to any class or series of the capital stock of the Company; 
 (v)    any exchange, redemption,
repayment, repurchase or conversion of any of the Company’s indebtedness that ranks equal in right of payment with the Debentures for (i) any class or series of the capital stock of the Company, (ii) warrants, options or rights to
acquire the capital stock of the Company, other than any convertible debt, or (iii) evidences of indebtedness or other obligations of the Company that rank equal in right of payment with, or junior to, the Debentures, including any such
indebtedness convertible into the capital stock of the Company; 

 (vi)    any exchange, redemption, repayment, repurchase
or conversion of any of indebtedness of the Company that ranks junior in right of payment to the Debentures for (i) any class or series of the capital stock of the Company, (ii) warrants, options or rights to acquire the capital stock of
the Company, other than any convertible debt, or (iii) evidences of indebtedness or other obligations of the Company that rank junior in right of payment to the Debentures, including any such indebtedness convertible into capital stock of the
Company; 
 (vii)    any purchase of, or payment in cash in lieu of, fractional interests in shares of
the capital stock of the Company (i) issued by the Company in connection with a bona fide acquisition of a business or (ii) issued by the Company pursuant to the conversion or exchange provisions of the capital stock of the Company or
securities of the Company convertible into or exchangeable for the capital stock of the Company; 

(viii)    repurchases, redemptions or other acquisitions of shares of the capital stock of the Company or
capital stock rights contractually required by any employment contract, benefit plan or other similar arrangement with or for the benefit of the employees, officers, directors or consultants of the Company or those of Subsidiaries of the Company;
and 
 (ix)    any declaration of a dividend on the capital stock of the Company in connection with the
implementation of a shareholders rights plan designed to protect the Company against unsolicited offers to acquire the capital stock of the Company, or the issuance of the capital stock of the Company under any such plan in the future, or the
redemption or repurchase of any such rights pursuant thereto. 
 ARTICLE 4 

REDEMPTION OF THE DEBENTURES 

Section 4.01    Optional Redemption. Subject to the provisions of Article III of the Indenture, the
Company shall have the right to redeem the Debentures for cash in whole or in part: 
 (a)    At any time and from time
to time, other than the Par Call Date or any subsequent Reset Date, at a redemption price equal to the greater of: 

(i)    100% of the principal amount of the Debentures being redeemed, and 

(ii)    the sum of the present values of remaining scheduled payments of interest and principal on the
Debentures to be redeemed (exclusive of accrued and unpaid interest to, but excluding, the redemption date and assuming the Debentures called for redemption matured on the next succeeding Reset Date) discounted to the redemption date on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 0.40%. 

plus, in each case, all accrued and unpaid interest thereon to, but not including, the redemption date; and 

(b)    on the Par Call Date or any subsequent Reset Date, at a redemption price equal to 100% of the principal amount of
the Debentures to be redeemed, plus all accrued and unpaid interest thereon to, but not including, the redemption date. 

 Section 4.02    Tax Event Redemption. If a Tax Event
has occurred, then the Company shall have the right to redeem the Debentures, in whole but not in part, for cash at any time following the occurrence of such Tax Event at a redemption price equal to 100% of the principal amount of the Debentures
being redeemed, plus all accrued and unpaid interest thereon to, but not including, the redemption date. 

Section 4.03    Rating Agency Event Redemption. If a Rating Agency Event has occurred, then the Company
shall have the right to redeem the Debentures, in whole but not in part, for cash at any time within 120 days after the conclusion of any review or appeal process instituted by the Company following the occurrence of such Rating Agency Event or, in
the absence of any such review or appeal process, within 120 days of such Rating Agency Event, at a redemption price equal to 102% of the principal amount of the Debentures being redeemed, plus all accrued and unpaid interest thereon to but not
including the redemption date. 
 Section 4.04    Redemption Procedures. Any redemption pursuant to
this Article 4 will be made upon not less than 10 days’ nor more than 60 days’ notice mailed (or otherwise transmitted in accordance with Depositary procedures) to the registered holder of the Debentures. On and after the applicable
redemption date for the Debentures, interest will cease to accrue on the Debentures or any portion thereof called for redemption, unless the Company defaults in the payment of the applicable redemption price. If the redemption date falls on a day
that is not a Business Day, the payment of the redemption price will be postponed until the next succeeding Business Day, and no interest will accrue as a result of that postponement. If the Debentures are to be redeemed in part, the Debentures to
be redeemed will be selected by the Trustee on a pro rata basis, by lot or by any other method utilized by the Trustee as the Trustee deems fair and appropriate, in each case in accordance with the procedures of the Depositary if at the time of
redemption the Debentures are represented by Global Securities. The applicable redemption price, shall be paid prior to 12:00 noon, New York City time, on the date of such redemption or at such earlier time as the Company determines and specifies in
the notice of redemption, provided the Company shall deposit with a paying agent or the Trustee an amount sufficient to pay such redemption price, and accrued and unpaid interest on the Debentures, by 10:00 a.m., New York City time, on the date such
redemption price is to be paid. 
 ARTICLE 5 

SUBORDINATION 

Section 5.01    Agreement to Subordinate. (a) The Company covenants and agrees, and each Holder of
Debentures issued hereunder by such Holder’s acceptance thereof likewise covenants and agrees, that all Debentures shall be issued subject to the provisions of this Article 5; and each Holder of a Debenture, whether upon original issue or upon
transfer or assignment thereof, accepts and agrees to be bound by such provisions. 
 No provision of this Article 5 shall prevent the
occurrence of any default or Event of Default hereunder. 
 (b)    The payment by the Company of the principal of,
premium, if any, and interest on all Debentures issued hereunder shall, to the extent and in the manner hereinafter set forth, be subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness of the Company,
whether outstanding at the date of this Supplemental Indenture or thereafter incurred. 

 Section 5.02    Default on Senior Indebtedness. In
the event and during the continuation of any default by the Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness of the Company, or in the event that the maturity of any Senior Indebtedness of
the Company has been accelerated because of a default, then, in either case, no payment shall be made by the Company with respect to the principal of, or premium, if any, or interest on the Debentures. 

In the event that, notwithstanding the foregoing, any payment shall be received by the Trustee or any Holder when such payment is prohibited
by the preceding paragraph of this Section 5.02, such payment shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or
trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent that the holders of the Senior Indebtedness (or their representatives or a trustee)
notify the Trustee in writing within 90 days of such payment of the amounts then due and owing on the Senior Indebtedness and only the amounts specified in such notice to the Trustee shall be paid to the holders of Senior Indebtedness. 

Section 5.03    Liquidation; Dissolution; Bankruptcy. Upon any payment by the Company, or distribution
of assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon any dissolution or winding-up or liquidation or reorganization of the Company, whether voluntary or
involuntary or in bankruptcy, insolvency, receivership or other proceedings, all amounts due on all Senior Indebtedness of the Company shall first be paid in full, or payment thereof provided for in money in accordance with its terms, before any
payment is made by the Company on account of the principal (and premium, if any) or interest on the Debentures; and upon any such dissolution or winding-up or liquidation or reorganization, any payment by the
Company, or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the Holders of the Debentures or the Trustee would be entitled to receive from the Company, except for the provisions of
this Article 5, shall be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by the Holders of the Debentures or by the Trustee under this Indenture if
received by them or it, directly to the holders of Senior Indebtedness of the Company (pro rata to such holders on the basis of the respective amounts of Senior Indebtedness held by such holders, as calculated by the Company) or their representative
or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing such Senior Indebtedness may have been issued, as their respective interests may appear, to the extent necessary to pay such Senior
Indebtedness in full, in money or money’s worth, after giving effect to any concurrent payment or distribution to or for the holders of such Senior Indebtedness, before any payment or distribution is made to the Holders of Debentures or to the
Trustee. 
 In the event that, notwithstanding the foregoing, any payment or distribution of assets of the Company of any kind or character,
whether in cash, property or securities, prohibited by the foregoing, shall be received by the Trustee or the Holders of the Debentures before all Senior Indebtedness of the Company is paid in full, or provision is made for such payment in money in
accordance with its terms, such payment or distribution shall be held in trust for the benefit of and shall be paid over or delivered to the holders of such Senior Indebtedness or their representative or representatives, or to the trustee or
trustees under any indenture pursuant to which any instruments evidencing such Senior Indebtedness may have been issued, as their respective interests may appear, as calculated by the Company, for application to the payment of all Senior
Indebtedness of the Company remaining unpaid to the extent necessary to pay such Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the holders of
such Senior Indebtedness. 

 For purposes of this Article 5, the words “cash, property or securities” shall not
be deemed to include shares of stock of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment, the payment of which is subordinated at least to the
extent provided in this Article 5 with respect to the Debentures to the payment of all Senior Indebtedness of the Company that may at the time be outstanding, provided that (i) such Senior Indebtedness is assumed by the new corporation, if any,
resulting from any such reorganization or readjustment, and (ii) the rights of the holders of such Senior Indebtedness are not, without the consent of such holders, altered by such reorganization or readjustment. The consolidation of the
Company with, or the merger of the Company into, another corporation or the liquidation or dissolution of the Company following the conveyance or transfer of its property as an entirety, or substantially as an entirety, to another corporation upon
the terms and conditions provided for in Article X of the Indenture and in this Supplemental Indenture shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this
Section 5.03 if such other corporation shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in Article X of the Indenture and in this Supplemental Indenture. Nothing in Section 5.02 or
in this Section 5.03 shall apply to claims of, or payments to, the Trustee under or pursuant to Section 7.06 of the Indenture. 

Section 5.04    Subrogation. Subject to the payment in full of all Senior Indebtedness of the Company,
the rights of the Holders of the Debentures shall be subrogated to the rights of the holders of such Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to such Senior Indebtedness until
the principal of (and premium, if any) and interest on the Debentures shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to the holders of such Senior Indebtedness of any cash, property or securities to
which the Holders of the Debentures or the Trustee would be entitled except for the provisions of this Article 5, and no payment over pursuant to the provisions of this Article 5, to or for the benefit of the holders of such Senior Indebtedness by
Holders of the Debentures or the Trustee, shall, as between the Company, its creditors other than holders of Senior Indebtedness of the Company, and the Holders of the Debentures be deemed to be a payment by the Company to or on account of such
Senior Indebtedness. It is understood that the provisions of this Article 5 are and are intended solely for the purposes of defining the relative rights of the Holders of the Debentures, on the one hand, and the holders of such Senior Indebtedness
on the other hand. 
 Nothing contained in this Article 5 or elsewhere in this Indenture or in the Debentures is intended to or shall
impair, as between the Company, its creditors other than the holders of Senior Indebtedness of the Company, and the Holders of the Debentures, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the
Debentures the principal of (and premium, if any) and interest on the Debentures as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Debentures
and creditors of the Company, other than the holders of Senior Indebtedness of the Company, nor shall anything herein or therein prevent the Trustee or the Holder of any Debenture from exercising all remedies otherwise permitted by applicable law
upon default under the Indenture, subject to the rights, if any, under this Article 5 of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company, received upon the exercise of any such remedy. 

Upon any payment or distribution of assets of the Company referred to in this Article 5, the Trustee, subject to the provisions of
Section 7.01 of the Indenture, and the Holders of the Debentures, shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any dissolution, winding-up,
liquidation or reorganization proceedings are pending, or a certificate of the receiver, trustee in bankruptcy, liquidation trustee, agent or other Person making such payment or distribution, delivered to the Trustee or to the Holders of the
Debentures, for the 

 
purposes of ascertaining the Persons entitled to participate in such distribution, the holders of Senior Indebtedness and other indebtedness of the Company, the amounts thereof or payable
thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article 5. 

Section 5.05    Trustee to Effectuate Subordination. Each Holder of a Debenture by such Holder’s
acceptance thereof authorizes and directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article 5 and appoints the Trustee such Holder’s attorney-in-fact for any and all such purposes. 

Section 5.06    Notice by the Company. The Company shall give prompt written notice to a Responsible
Officer of the Trustee of any fact known to the Company that would prohibit the making of any payment of monies to or by the Trustee in respect of the Debentures pursuant to the provisions of this Article 5. Notwithstanding the provisions of this
Article 5 or any other provision of the Indenture and this Supplemental Indenture, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment of monies to or by the Trustee in respect
of the Debentures pursuant to the provisions of this Article 5 unless and until a Responsible Officer of the Trustee shall have received written notice thereof at the Corporate Trust Office of the Trustee from the Company or a holder or holders of
Senior Indebtedness or from any trustee therefor; and before the receipt of any such written notice, the Trustee, subject to the provisions of Section 7.01 of the Indenture, shall be entitled in all respects to assume that no such facts exist;
provided that if a Responsible Officer of the Trustee shall not have received the notice provided for in this Section 5.06 at least three Business Days prior to the date upon which by the terms hereof any money may become payable for any
purpose (including, without limitation, the payment of the principal of (or premium, if any) or interest on any Debenture), then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive
such money and to apply the same to the purposes for which they were received, and shall not be affected by any notice to the contrary that may be received by it within three Business Days prior to such date. 

The Trustee, subject to the provisions of Section 7.01 of the Indenture, shall be entitled to conclusively rely on the delivery to it of
a written notice by a Person representing himself to be a holder of Senior Indebtedness of the Company (or a trustee on behalf of such holder) to establish that such notice has been given by a holder of such Senior Indebtedness or a trustee on
behalf of any such holder or holders. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of such Senior Indebtedness to participate in any payment or
distribution pursuant to this Article 5, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of such Senior Indebtedness held by such Person, the extent to which such Person is
entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article 5, and if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial
determination as to the right of such Person to receive such payment. 
 Section 5.07    Rights of the Trustee;
Holders of Senior Indebtedness. The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article 5 in respect of any Senior Indebtedness at any time held by it, to the same extent as any other holder of
Senior Indebtedness, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder. 
 With respect to the
holders of Senior Indebtedness of the Company, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article 5, and no implied covenants or obligations with respect to the
holders of such Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of such Senior Indebtedness and, subject to the provisions of

 
Section 7.01 of the Indenture, the Trustee shall not be liable to any holder of such Senior Indebtedness if it shall pay over or deliver to Holders of Debentures, the Company or any other
Person money or assets to which any holder of such Senior Indebtedness shall be entitled by virtue of this Article 5 or otherwise. Nothing in this Article 5 shall apply to claims of, or payments to, the Trustee under or pursuant to
Section 7.06 of the Indenture. 
 Section 5.08    Subordination May Not be Impaired. No right of
any present or future holder of any Senior Indebtedness of the Company to enforce subordination as herein provided shall at any time or in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or
failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms, provisions and covenants of the Indenture, regardless of any knowledge thereof that any such holder may have or otherwise be charged with. 

Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness of the Company may, at any time and
from time to time, without the consent of or notice to the Trustee or the Holders of the Debentures, without incurring responsibility to the Holders of the Debentures and without impairing or releasing the subordination provided in this Article 5 or
the obligations hereunder of the Holders of the Debentures to the holders of such Senior Indebtedness, do any one or more the following: (a) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, such
Senior Indebtedness, or otherwise amend or supplement in any manner such Senior Indebtedness or any instrument evidencing the same or any agreement under which such Senior Indebtedness is outstanding; (b) sell, exchange, release or otherwise
deal with any property pledged, mortgaged or otherwise securing such Senior Indebtedness; (c) release any Person liable in any manner for the collection of such Senior Indebtedness; and (d) exercise or refrain from exercising any rights
against the Company and any other Person. 
 Section 5.09    No Right to Rely on Other Covenants. The
holders of Senior Indebtedness shall not have any rights under the Indenture to enforce any of the covenants contained in any of the other Articles of this Supplemental Indenture, including, without limitation, the covenants contained in Article 3
hereof. 
 ARTICLE 6 

EVENTS OF DEFAULT 

Section 6.01    Events of Default. (a) With respect to the Debentures, the Events of Default set
forth in Section 6.01(a) of the Indenture shall not apply. Instead, “Event of Default” means with respect to the Debentures any one or more of the following events that has occurred and is continuing: 

(i)    the Company defaults in any payment of interest on any of the Debentures when the same become due
and payable following the end of the applicable Optional Deferral Period and such interest remains unpaid for 30 days; 

(ii)    the Company defaults in the payment of the principal of (or premium, if any, on) any of the
Debentures when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise; 

(iii)    the Company pursuant to or within the meaning of any Bankruptcy Law (1) commences a voluntary
case, (2) consents to the entry of an order for relief against it in an involuntary case, (3) consents to the appointment of a Custodian of it or for all or substantially all of its property or (4) makes a general assignment for the
benefit of its creditors; or 

 (iv)    a court of competent jurisdiction enters an
order under any Bankruptcy Law that (1) is for relief against the Company in an involuntary case, (2) appoints a Custodian of the Company for all or substantially all of its property, or (3) orders the liquidation of the Company, and
the order or decree remains unstayed and in effect for 90 days. 
 (b)    If an Event of Default described in clause
(i), (ii), (iii) or (iv) of Section 6.01(a) of this Article with respect to the Debentures occurs and is continuing, the Holders of the Debentures shall be entitled to the remedies in Article VI of the Indenture. 

ARTICLE 7 
 U.S.
SUCCESSOR CORPORATION 
 Section 7.01    U.S. Successor Corporation. In addition to the
requirements of Section 10.01 of the Indenture, any successor or transferee entity under Section 10.01 of the Indenture shall be a corporation organized and existing under the laws of the United States, any state thereof or the District of
Columbia. 
 ARTICLE 8 

APPLICABILITY OF SATISFACTION, DEFEASANCE AND COVENANT DEFEASANCE 

Section 8.01    Applicability of Satisfaction and Discharge. The Debentures will be subject to
satisfaction and discharge pursuant to Section 11.01 of the Indenture in accordance with the provisions of Article XI of the Indenture, as amended by this Supplemental Indenture. 

Section 8.02    Applicability of Defeasance and Covenant Defeasance. The Debentures will be subject to
defeasance and discharge and covenant defeasance pursuant to Sections 11.02 and 11.03, respectively, of the Indenture in accordance with the provisions of Article XI of the Indenture, as amended by this Supplemental Indenture. 

ARTICLE 9 

MISCELLANEOUS 

Section 9.01    Ratification of Indenture. The Indenture, as supplemented by this Supplemental
Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided; provided that the provisions of this Supplemental Indenture
apply solely with respect to the Debentures. 
 Section 9.02    Trustee Not Responsible for Recitals.
The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Supplemental
Indenture. 
 Section 9.03    Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW OR ANY SUCCESSOR TO SUCH A STATUTE). 

 Section 9.04    Treatment of the Debentures as Debt. The
Company agrees, and each Holder of the Debentures will be deemed to have agreed, to treat the Debentures as indebtedness of the Company for all U.S. federal, state and local tax purposes. 

Section 9.05    Separability. In case any one or more of the provisions contained in this Supplemental
Indenture or in the Debentures shall for any reason be held to be invalid, illegal or unenforceable in any respect, then, to the extent permitted by the law, such invalidity, illegality or unenforceability shall not affect any other provisions of
this Supplemental Indenture or of the Debentures, but this Supplemental Indenture and the Debentures shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 

Section 9.06    Counterparts. (a) This Supplemental Indenture may be executed in any number of
counterparts each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. 

(b)    The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall
constitute effective execution and delivery of this Agreement as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed
to be their original signatures for all purposes. 
 Section 9.07    Amendments to Indenture. For
purposes of the Debentures, the Indenture is hereby amended as follows: 
 (a)    The following language is added to the
end of Section 2.08 of the Indenture: 
 “All Debt Securities delivered by the Company to the Trustee hereunder shall be
accompanied by an Officers’ Certificate instructing the Trustee to cancel such Debt Securities and detailing the Debt Securities redeemed, converted or purchased by the Company.” 

(b)    The following language is added to the end of Section 5.03 of the Indenture: 

“(d) The Company shall promptly notify the Trustee in writing of any late payments of principal or interest made to Holders. 

(e) So long as any of the Debt Securities remain outstanding, the Company will on an annual basis and otherwise forthwith on request by the
Trustee, deliver to the Trustee a certificate signed by two officers of the Issuer stating that no Event of Default or Default has occurred (or, if such is not the case, specifying the particulars of any Event of Default or Default).” 

(c)    The following language is added to the end of Section 7.02 of the Indenture: 

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

 (m) The Trustee’s powers shall be additional to any powers under applicable law or as
Holder of any of the Notes. 
 (n) The Trustee shall have the right to participate in the defense of any claim against it, even if its
defense is assumed by an indemnifying party. 
 (o) Any advice, opinion or information upon which the Trustee is entitled to rely may be sent
or obtained by letter, email, electronic communication or fax and the Trustee shall not be liable for acting in good faith on any such advice, opinion or information purporting to be conveyed by such means even if it contains an error or is not
authentic; provided that the Trustee shall be liable for acting on any such advice, opinion or information where such reliance constitutes willful misconduct or gross negligence. 

(p) The Trustee shall have no obligation to ascertain whether any Event of Default or Default has occurred. 

(q) The Trustee shall not be precluded from entering into other transactions with the parties to this Indenture that are unrelated to the
transactions contemplated hereby. 
 (r) The Trustee shall have the ability to request and rely upon certificates and/or other information
provided by the Depositary. 
 (s) Following a Default or an Event of Default, the Trustee shall have the right to notify all agents
appointed under this Indenture that such agents are to act as the agent of the Trustee and the liability of the Trustee to such agents shall be limited to the amount held by the Trustee in trust under this Indenture. 

(t) The Trustee shall not incur any liability arising from the Company’s or any other person’s breach of its obligations under this
Indenture. 
 (u) Holders shall not have the right to compel disclosure of information made available to the Trustee in connection with this
Indenture, unless required by applicable law or by the express terms hereof. 
 (v) The Trustee shall not be under any obligation to monitor
or supervise any other party to this Indenture. 
 (w) In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances,
nuclear or natural catastrophes or acts of God, and interruption, loss or malfunctioning of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 (x) The
Trustee shall not incur any liability for its own action or inaction other than where the Trustee has acted with negligence or willful misconduct. 

 (y) The Trustee shall have no obligation or responsibility to post data or documents in
connection with the Debentures, to be delivered to a rating agency or otherwise, on its website. 
 (z) Where an Opinion of Counsel is
required to be furnished pursuant to this Indenture, such Opinion of Counsel shall be in form and substance reasonably satisfactory to and addressed to the Trustee.” 

(d)    All references to “10%” in Section 6.01(b) of the Indenture shall be replaced with “25%.”

 (e)    In Section 6.08 of the Indenture, the word “immediately” shall be replaced with
“promptly” in each instance where it appears. In addition, without regard to the last sentence of the first paragraph of Section 6.08 of the Indenture, within 90 days after the occurrence of any default with respect to the Debentures,
the Trustee shall transmit by mail (or otherwise in accordance with Depositary procedures) to all Holders of Debentures entitled to receive reports pursuant to the Indenture, as supplemented by this Supplemental Indenture, notice of such default
known to a Responsible Officer of the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any), or interest, if any, on, the
Debentures, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determines that the
withholding of such notice is in the interests of the Holders of the Debentures. For the purpose of the preceding sentence, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of
Default with respect to the Debentures. 
 (f)    In Section 7.05 of the Indenture, the words “, nor need the
Trustee manage such moneys” shall be inserted after the words “except to the extent required by law.” 

(g)    In Section 7.06 of the Indenture, the words “bad faith” shall be replaced with “willful
misconduct” in each instance that they appear. 
 (h)    In Section 7.06(a) of the Indenture, the following
language shall be inserted immediately prior to the sentence that begins, “The Company also covenants.” 
 “The Company shall
be responsible for all stamp, issue, registration, documentary or other similar taxes and duties payable in respect of the issuance of the Notes or the acceleration of the Notes or the enforcement of the Indenture by the Trustee and shall indemnify
the Trustee against any such taxes paid by it in connection with any action taken to enforce the Company’s obligations.” 

(i)    Without regard to anything to the contrary in Section 8.04 of the Indenture, the Holders of not less than a
majority in principal amount of the Outstanding Debentures on behalf of the Holders of all the Debentures then Outstanding may waive any existing default or Event of Default and its consequences under the Indenture, as supplemented from time to time
with respect to the Debentures, except: 
 (1) a continuing default or an Event of Default in the payment of the principal of, or any premium
or interest on, the Debentures (with the exception of a rescission of acceleration of the Debentures by the Holders of at least a majority in aggregate principal amount of the Debentures then Outstanding and a waiver of the default in the payment
that resulted from such acceleration), or 

 (2) where such Holders would waive any payment upon the redemption of any Debenture. 

(j)    Without regard to Section 9.01 of the Indenture, in addition to any supplemental indenture otherwise
authorized by the Indenture, as supplemented from time to time with respect to the Debentures, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental to the Indenture (which shall conform
to the provisions of the Trust Indenture Act as then in effect), or amend or supplement the Debentures, without the consent of the Holders of the Debentures, for one or more of the following purposes: 

(1) to evidence the succession of another Person to the Company, and the assumption by any such successor of the covenants of the Company
contained in the Indenture, as supplemented from time to time with respect to the Debentures, and in the Debentures; 
 (2) to add to the
covenants of the Company for the benefit of the Holders of the Debentures or to surrender any right or power conferred in the Indenture, as supplemented from time to time with respect to the Debentures, upon the Company; 

(3) to change or eliminate any of the provisions of the Indenture, as supplemented from time to time with respect to the Debentures, to provide
that bearer Debentures may be registrable as to principal, to change or eliminate any restrictions on the payment of principal of, or any premium or interest on, the Debentures, to permit bearer Debentures to be issued in exchange for registered
Debentures, to permit bearer Debentures to be exchanged for bearer Debentures of other authorized denominations or to permit or facilitate the issuance of Debentures in uncertificated form (in addition to, or in place of, certificated Debentures);
provided that any such action shall not adversely affect the legal rights of the Holders of Outstanding Debentures in any material respect; 

(4) to provide for the issuance of and establish the form and terms and conditions of the Debentures as provided in Section 2.01 of the
Indenture, or to establish the form of any certifications required to be furnished pursuant to the terms of the Indenture, as supplemented from time to time with respect to the Debentures; 

(5) to evidence and provide for the acceptance of appointment under the Indenture, as supplemented from time to time with respect to the
Debentures, by a successor Trustee with respect to the Debentures and to add to or change any of the provisions of the Indenture, as supplemented from time to time with respect to the Debentures, as shall be necessary to provide for or facilitate
the administration of the trusts thereunder by more than one Trustee, pursuant to the requirements of Section 7.11 of the Indenture; 

(6) to cure any ambiguity or to correct or supplement any provision in the Indenture, as supplemented from time to time with respect to the
Debentures, which may be defective or inconsistent with any other provision therein; 
 (7) to add any additional Events of Default with
respect to the Debentures; 

 (8) to supplement any of the provisions of the Indenture, as supplemented from time to time
with respect to the Debentures, to such extent as shall be necessary to permit or facilitate the defeasance or discharge of the Debentures pursuant to Sections 11.01, 11.02 and 11.03 of the Indenture; 

(9) to secure the Debentures (or to release such security as permitted by the Indenture, as supplemented from time to time with respect to the
Debentures and the applicable security documents); 
 (10) to conform the text of the Indenture, as supplemented from time to time with
respect to the Debentures, or the Debentures to any provision of the “Description of the Debentures” section of the Company’s prospectus supplement, dated February 3, 2020, relating to the offering of the Debentures to the extent
that such provision of such section was intended to be a verbatim recitation of a provision of the Indenture, as supplemented from time to time with respect to the Debentures, or the Debentures, which intent may be evidenced by an Officer’s
Certificate to that effect; 
 (11) to comply with the procedures of the Depositary; 

(12) to allow a Person to guarantee obligations of the Company under the Indenture, as supplemented from time to time with respect to the
Debentures, and any Debentures by executing a supplemental indenture (or to release any guarantor from such guarantee as provided or permitted by the terms of the Indenture, as supplemented from time to time with respect to the Debentures, and such
guarantee); or 
 (13) to amend or supplement any provision contained in the Indenture, as supplemented from time to time with respect to the
Debentures; provided that no such amendment or supplement shall adversely affect the legal rights of the Holders of the Debentures then Outstanding in any material respect. 

(k)    Without regard to the proviso in Section 9.02 of the Indenture, no supplemental indenture with respect to the
Debentures shall, without the consent of the Holders of each Debenture then Outstanding and affected thereby: (i) change the maturity date of the principal of, or any premium or installment of interest on, the Debentures, (ii) reduce the
principal amount thereof or the rate of interest thereon or, or any premium payable upon the redemption of, the Debentures; (iii) reduce the amount of the principal of the Debentures that would be due and payable upon a declaration of
acceleration of the maturity date of the Debentures or the amount thereof provable in bankruptcy pursuant to Section 6.2; (iv) change the currency in which the principal of, or any premium or interest on, the Debentures is payable;
(v) impair the right to institute suit for the enforcement of any payment on or after the maturity date of the Debentures (or, in the case of redemption, on or after the redemption date); (vi) reduce the percentage in principal amount of the
Outstanding Debentures whose Holders are required for quorum, the consent of whose Holders is required for any supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of the
Indenture, as supplemented from time to time with respect to the Debentures, or certain defaults thereunder and their consequences) provided for in the Indenture, as supplemented from time to time with respect to the Debentures; and
(vii) modify any of the foregoing provisions, any provisions of the Indenture, as supplemented from time to time with respect to the Debentures, regarding the waiver of existing defaults, or the provisions regarding the rights of the Holders to
receive payments of the principal of, or premium, if any, or interest, if any, on the Debentures, except to increase any percentage vote required or to provide that certain other 

 
provisions of the Indenture, as supplemented from time to time with respect to the Debentures, cannot be modified or waived without the consent of the Holder of each Outstanding Debenture
affected thereby. 
 (l)    In Section 11.01 of the Indenture, the words “in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee,” shall be removed. 

(m)    In Section 11.02 of the Indenture, the words “Governmental Obligations sufficient” shall be followed
by: “, without reinvestment, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee,”. 

(n)    In Section 13.04, the words “in English” shall be inserted after the words “may be given or
served,” the words “facsimile to a number provided in writing to the parties hereto or” shall be inserted after the words “may be given or served by” and the words “in English and by letter or facsimile” shall be
inserted after the words “given or made in writing.” 
 (o)    The following language is added to the end of
Article XIII of the Indenture: 
 “SECTION 13.14. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE DEBT SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY. EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY CONSENTS TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND OF ANY FEDERAL COURT LOCATED IN THE BOROUGH OF MANHATTAN AND IN SUCH STATE IN CONNECTION WITH ANY ACTION, SUIT OR OTHER PROCEEDING ARISING OUT OF OR RELATING TO THIS
SUPPLEMENTAL INDENTURE OR ANY ACTION TAKEN OR OMITTED HEREUNDER, AND WAIVES TO THE EXTENT PERMITTED BY APPLICABLE LAW ANY CLAIM OF FORUM NON CONVENIENS AND ANY OBJECTIONS AS TO LAYING OF VENUE.” 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed on the date or dates indicated in the acknowledgements and as of the day and year first above written. 
  

			
	STANLEY BLACK & DECKER, INC.
		
	By:	 	 /s/ Robert T. Paternostro

	Name:	 	Robert T. Paternostro
	Title:	 	Vice President, Treasury
	
	 HSBC BANK USA, NATIONAL

ASSOCIATION, Not in Its Individual
 Capacity But Solely as
Trustee

		
	By:	 	 /s/ F. Acebedo

	Name:	 	F. Acebedo
	Title:	 	Vice President

 EXHIBIT A 

(FORM OF FACE OF DEBENTURE) 
 [If
the Debenture is to be a Global Security, insert: THIS DEBENTURE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS DEBENTURE IS
EXCHANGEABLE FOR DEBENTURES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS DEBENTURE (OTHER THAN A TRANSFER OF THIS DEBENTURE AS A
WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 

UNLESS THIS DEBENTURE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO
THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY DEBENTURE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND
ANY PAYMENT HEREON IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 

  
 A-1 

 STANLEY BLACK & DECKER, INC. 

4.000% FIXED-TO-FIXED RESET RATE 

JUNIOR SUBORDINATED DEBENTURE DUE 2060 
  

			
	No.	 	$            
	CUSIP No. 854502 AM3	 	

 STANLEY BLACK & DECKER, INC., a Connecticut corporation (the “Company”, which term
includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to                     
or registered assigns, the principal sum [of                      Dollars
($            )]1 [as set forth in the Schedule of Increases or Decreases in Debenture attached hereto, which amount shall not exceed
$[            ]],2 on March 15, 2060 and to pay interest thereon from [February 10, 2020]3 or the most recent Interest Payment Date to which interest has been paid or duly provided for. 

The Debentures will bear interest from and including February 10, 2020 to, but excluding, March 15, 2025 at the rate of 4.000% per
annum. Beginning on March 15, 2025, during each Reset Period, the Debentures will bear interest at a rate per annum equal to the Five-Year Treasury Rate as of the most recent Reset Interest Determination Date, plus 2.657%, to be reset on each
Reset Date. A “Reset Period” means the period from and including March 15, 2025 to, but excluding, the next following Reset Date and thereafter each period from, and including, each Reset Date to, but excluding, the next
following Reset Date. “Reset Date” means the March 15, 2025 and each date falling on the fifth anniversary of the preceding Reset Date. 

Interest on the Debentures for any Interest Period will be payable semi-annually in arrears on March 15 and September 15, beginning
September 15, 2020, or, if any of these days is not a Business Day, on the next Business Day (each such date, an “Interest Payment Date”), and no interest will accrue as a result of that postponement. 

The amount of interest payable on the Debentures will be computed on the basis of a 360-day year
consisting of twelve 30-day months. 
 Interest on the Debentures shall be paid to the Persons in
whose names the Debentures are registered on the close of business (i) on the Business Day immediately preceding each Interest Payment Date so long as all of the Debentures are represented by one or more Global Securities; or (ii) on the
March 1 or September 1 (whether or not such day is a Business Day), as applicable, immediately preceding each Interest Payment Date if any of the Debentures are no longer represented by a Global Security. 

So long as no Event of Default has occurred, the Company shall have the right to defer payment of interest on the Debentures as set forth in
the Indenture. To the extent permitted by applicable law, deferred interest on the Debentures shall bear interest, compounded semi-annually at a rate equal to the then-applicable interest rate, and shall be payable in the manner and at the times
specified in the Indenture. 
  
  

	1 	 Include in certificated Debentures. 

	2 	 Include in Global Security. 

	3 	 Initial interest accrual date may be adjusted in connection with the issuance of additional Debentures.

  
 A-2 

 The indebtedness evidenced by this Debenture is, to the extent provided in the Indenture,
subordinate and junior in right of payment to the prior payment in full of all Senior Indebtedness, and this Debenture is issued subject to the provisions of the Indenture with respect thereto. 

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

  
 A-3 

 IN WITNESS WHEREOF, the Company has caused this instrument to be executed. 

Dated: 
  

			
	STANLEY BLACK & DECKER, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 A-4 

 (FORM OF CERTIFICATE OF AUTHENTICATION) 

CERTIFICATE OF AUTHENTICATION 

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

 

			
	HSBC BANK USA, NATIONAL ASSOCIATION, not in its individual capacity but solely as trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated: 

  
 A-5 

 STANLEY BLACK & DECKER, INC. 

4.000% FIXED-TO-FIXED RESET RATE 

JUNIOR SUBORDINATED DEBENTURE DUE 2060 

(FORM OF REVERSE OF DEBENTURE) 

This is one of a duly authorized series of Debt Securities of the Company (herein sometimes referred to as the “Debentures”),
all issued or to be issued under and pursuant to an Indenture dated as of November 22, 2005 (the “Base Indenture”), duly executed and delivered between the Company and HSBC Bank USA, National Association, not in its individual
capacity but solely as trustee (the “Trustee”), as supplemented by the Sixth Supplemental Indenture thereto, dated as of February 10, 2020, between the Company and the Trustee (the “Supplemental Indenture,” and
the Indenture, as so supplemented, the “Indenture”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities
thereunder of the Trustee, the Company and the Holders of the Debentures. This Debenture is one of the series designated on the face hereof. 

All terms used in this Debenture that are defined in the Supplemental Indenture shall have the meaning assigned to them in the Supplemental
Indenture. Any term used in this Debenture defined in the Base Indenture and not otherwise defined in the Supplemental Indenture shall have the meaning set forth in the Base Indenture. 

The Company may redeem this Debenture at its option at any time and from time to time in whole, or in part, at the redemption prices set forth
in the Indenture. 
 The Company may redeem all Outstanding Debentures at its option in whole, but not in part, at any time, at the
redemption price set forth in the Indenture if a Tax Event occurs. 
 The Company may redeem all Outstanding Debentures at its option in
whole, but not in part, at any time, at the redemption price set forth in the Indenture if a Rating Agency Event occurs. 
 In case an Event
of Default, as defined in the Supplemental Indenture, shall have occurred and be continuing, the principal of all of the Debentures may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject
to the conditions provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the entry into one or
more supplemental indentures for purposes of amending or modifying the rights and obligations of the Company and the rights of the Securityholders under the Indenture or the Supplemental Indenture at any time by the Company and the Trustee with the
consent of the Holders of a majority in principal amount of the Debt Securities at the time Outstanding of all series affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the
Debentures at the time Outstanding, on behalf of the Holders of all Debentures, to waive compliance by the Company with certain provisions of the Indenture and certain defaults under the Indenture and the consequences thereof. Any such consent or
waiver by the Holder of this Debenture shall be conclusive and binding upon such Holder and upon all future Holders of this Debenture and of any Debenture issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Debenture. 

  
 A-6 

 No service charge shall be made for any registration of transfer or exchange of the
Debentures, but the Company may require payment from the Holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

THIS DEBENTURE SHALL BE GOVERNED BY AND DEEMED TO BE A CONTRACT UNDER, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
(INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW OR ANY SUCCESSOR TO SUCH A STATUTE). 

  
 A-7 

 STANLEY BLACK & DECKER, INC. 

4.000% FIXED-TO-FIXED RESET RATE 

JUNIOR SUBORDINATED DEBENTURE DUE 2060 

No.    $ 
 CUSIP No. 854502 AM3 

SCHEDULE OF INCREASES OR DECREASES IN DEBENTURE4 

The initial principal amount of this Debenture is $[            ]. The following
increases or decreases in a part of this Debenture have been made: 
  

																	
	 Date
	  	Amount of
decrease in
principal
amount of this
Debenture	 	  	Amount of
increase in
principal
amount of this
Debenture	 	  	Principal
amount of this
Debenture
following such
decrease (or
increase)	 	  	Signature of
authorized
signatory of
Trustee	 
	     
	  	 	    	 	  	 	    	 	  	 	    	 	  	 	    	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  
  

	4	 Insert in Global Security 

  
 A-iExhibit 10.1

 

ENOCHIAN
BIOSCIENCES, INC.

2019
EQUITY INCENTIVE PLAN

Enochian
BioSciences, Inc. sets forth herein the terms and conditions of its 2019 Equity Incentive Plan.

		1.	PURPOSE

The
Plan is intended to enhance the Company’s and its Affiliates’ ability to attract and retain employees, Consultants
and Non-Employee Directors, and to motivate such employees, Consultants, and Non-Employee Directors to serve the Company and its
Affiliates and to expend maximum effort to improve the business results and earnings of the Company, by providing to such persons
an opportunity to acquire or increase a direct proprietary interest in the operations and future success of the Company. To this
end, the Plan provides for the grant of stock options (nonstatutory and incentive), stock appreciation rights, restricted shares,
restricted stock units, other stock-based awards, and cash awards. Any of these awards may—but need not—be made as
performance incentives to reward attainment of performance goals in accordance with the terms and conditions hereof. Upon becoming
effective, the Plan replaces, and no further awards may be made under, the Prior Plan.

		2.	DEFINITIONS

For
purposes of interpreting the Plan and related documents (including Award Agreements), the following definitions shall apply:

“Affiliate”
means any company or other trade or business that “controls,” is “controlled by,” or is “under common
control with,” the Company within the meaning of Rule 405 of Regulation C under the Securities Act, including any Subsidiary.

“Award”
means a grant, under the Plan, of (i) an Option, (ii) a Stock Appreciation Right, (iii) Restricted Shares, (iv) Restricted
Stock Units, (v) an Other Stock-based Award, or (vi) a Substitute Award.

“Award
Agreement” means a written agreement (including an agreement transmitted electronically) between the Company and a Grantee,
or notice from the Company or an Affiliate to a Grantee that evidences and sets out the terms and conditions of an Award.

“Beneficial
Owner” shall have the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that
in calculating the beneficial ownership of any particular Person, such Person shall be deemed to have beneficial ownership of
all securities that such Person has the right to acquire by conversion or exercise of other securities, whether such right is
currently exercisable or is exercisable only after the passage of time. The terms “Beneficially Owns” and “Beneficially
Owned” have corresponding meanings.

“Board”
means the Board of Directors of the Company.

“Cause”
means, unless the applicable Award Agreement states otherwise, (i) the Company or an Affiliate having
“cause” to terminate a Grantee’s employment or service, as defined in any applicable document or policy
between the Grantee and the Company or an Affiliate or (ii) in the absence of any such document or policy (or the
absence of any definition of “Cause” contained therein), (A) the Grantee’s willful failure to perform his
or her duties and responsibilities; (B) the Grantee’s commission of any act of fraud, embezzlement, dishonesty or
willful misconduct, (C) unauthorized use or disclosure by the Grantee of any proprietary information of the Company or any
Affiliate, or (D) Grantee’s willful breach of any of his or her obligations under any agreement with the Company or any
Affiliate. The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to the
existence of Cause.

    	 	1	 

     

    

 

“Change
in Control” shall, in the case of a particular Award, unless the applicable Award Agreement states otherwise or contains
a different definition of “Change in Control,” be deemed to occur upon:

 

(i)       An
acquisition (whether directly from the Company or otherwise) of any voting securities of the Company (the “Voting Securities”)
by any “Person” (as the term person is used for purposes of Section 13(d) or 14(d) of the Securities and Exchange
Act of 1934, as amended (the “Exchange Act”)), immediately after which such Person has “Beneficial Ownership”
(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than fifty percent (50%) of the combined voting
power of the Company’s then outstanding Voting Securities.

 

(ii)       Connsumation
of any definitive agreement, the consummation of which would cause to occur:

 

(A)            
A merger, consolidation or reorganization involving the Company, where either or both of the events described in clause (i) above
would be the result;

 

(B)       A
liquidation or dissolution of or appointment of a receiver, rehabilitator, conservator or similar person for, or the filing by
a third party of an involuntary bankruptcy against, the Company; or

 

(C)       An
agreement for the sale or other disposition of all or substantially all of the assets of the Company to any Person (other than
a transfer to an Affiliate).

Solely
to the extent required by Section 409A, an event described above shall not constitute a Change in Control for purposes of
the payment (but not vesting) terms and conditions of any Award subject to Section 409A unless such event also constitutes
a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of the Company’s
assets within the meaning of Section 409A (a “409A Change in Control Event”); provided, however, that
if an event described in clause (ii) above would be a 409A Change in Control Event upon consummation of the event described therein
rather than upon approval by the Board, then the consummation of such event rather than approval by the Board shall constitute
a Change in Control.

“Code”
means the Internal Revenue Code of 1986, as it may be amended from time to time. Any reference to a section of the Code shall
be deemed to include a reference to any regulations promulgated thereunder.

“Committee”
means a committee of members of the Board appointed by the Board to administer the Plan in accordance with Section 3.

    	 	2	 

     

    

 

“Company”
means Enochian BioSciences, Inc., a Delaware corporation.

“Common
Stock” means the common stock of the Company, par value $0.0001 per share.

“Consultant”
means any person, other than an employee or Non-Employee Director, engaged by the Company or any Affiliate to render personal
services to such entity, including as an advisor, and who qualifies as a consultant or advisor under Rule 701 of the Securities
Act (during any period in which the Company is not subject to the reporting requirements of the Exchange Act) or Form S-8 (during
any period in which the Company is subject to the reporting requirements of the Exchange Act).

“Corporate
Transaction” means a recapitalization, reorganization, merger, consolidation, combination, exchange, consolidation,
sale of all or substantially all of the Company’s assets, or the acquisition of assets or stock of another entity by the
Company, or other corporate transaction involving the Company or any of its Affiliates.

“Disability”
means “permanent and total disability” as set forth in Code Section 22(e)(3).

“Effective
Date” means December 12,2019.

“Exchange
Act” means the Securities Exchange Act of 1934.

“Fair
Market Value” of a Share as of a particular date means, on a given date, (i) if the Common Stock (A) is listed on a
national securities exchange or (B) is not listed on a national securities exchange, but is quoted by the OTC Markets Group, Inc.
(www.otcmarkets.com) or any successor or alternative recognized over-the-counter market or another inter-dealer quotation system,
on a last sale basis, the closing price of the Common Stock reported on such national securities exchange or other inter-dealer
quotation system, determined as of the Date of Grant as reported by such national securities exchange or other inter-dealer quotation
system; or (ii) if the Common Stock is not listed on a national securities exchange or quoted in an inter-dealer quotation system
on a last sale basis, the amount determined by the Committee in good faith to be the fair market value of the Common Stock.

“Family
Member” means a person who is a spouse, former spouse, child, stepchild, grandchild, parent, stepparent, grandparent,
niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother, sister, brother-in-law, or sister-in-law, including
adoptive relationships, of the applicable individual, any person sharing the applicable individual’s household (other than
a tenant or employee), a trust in which any one or more of these persons have more than 50% of the beneficial interest, a foundation
in which any one or more of these persons (or the applicable individual) control the management of assets, and any other entity
in which one or more of these persons (or the applicable individual) own more than 50% of the voting interests.

“GAAP”
means U.S. Generally Accepted Accounting Principles.

“Grant
Date” means the latest to occur of (1) the date as of which the Board approves an Award, (2) the date on which
the recipient of an Award first becomes eligible to receive an Award under Section 6, or (3) such other date
as may be specified by the Board in the Award Agreement.

“Grantee”
means a person who receives or holds an Award.

    	 	3	 

     

    

 

“Incentive
Stock Option” means an Option that is an “incentive stock option” within the meaning of Code Section 422.

“Issued
Share” means an outstanding Share issued under an Award (including a Restricted Share).

“Non-Employee
Director” means a member of the Board who is not an employee.

“Nonstatutory
Stock Option” means an Option that is not an Incentive Stock Option.

“Option”
means an option to purchase one or more Shares under the Plan, including an Incentive Stock Option and a Nonstatutory Stock Option.

“Option
Price” means the exercise price for each Share subject to an Option.

“Other
Stock-based Award” means Awards consisting of Share units, or other Awards, valued in whole or in part by reference
to, or otherwise based on, Common Stock, other than Options, SARs, Restricted Shares, and RSUs.

“Person”
means a person as defined in Section 13(d)(3) of the Exchange Act.

“Plan”
means this Enochian BioSciences, Inc. 2019 Equity Incentive Plan.

“Prior
Plan” means the Dandrit Biotech USA, Inc. 2014 Stock Incentive Plan.

“Purchase
Price” means the purchase price for each Share under a grant of Restricted Shares.

“Restricted
Period” shall have the meaning set forth in Section 10.1.

“Restricted
Shares” means restricted Shares awarded to a Grantee under Section 10.

“Restricted
Stock Unit” or “RSU” means a bookkeeping entry representing the equivalent of Shares, awarded to
a Grantee under Section 10.

“SAR
Exercise Price” means the per Share exercise price of a SAR granted under Section 9.

“SEC”
means the U.S. Securities and Exchange Commission.

“Section 409A”
means Code Section 409A.

“Securities
Act” means the Securities Act of 1933.

“Separation
from Service” means the termination of the applicable Grantee’s employment with, and performance of services
for, the Company and each Affiliate. Unless otherwise determined by the Company, if a Grantee’s employment or service
with the Company or an Affiliate terminates but the Grantee continues to provide services to the Company or an Affiliate in a
non-employee director capacity or as an employee, officer, or consultant, as applicable, such change in status shall not be
deemed a Separation from Service. Approved temporary absences from employment because of illness, vacation, or leave of
absence and transfers among the Company and its Affiliates shall not be considered Separations from Service. Notwithstanding
the foregoing, with respect to any Award that constitutes nonqualified deferred compensation under Section 409A,
“Separation from Service” shall mean a “separation from service” as defined under Section
409A.

    	 	4	 

     

    

 

“Service
Provider” means an employee, officer, Non-Employee Director, or Consultant of the Company or an Affiliate.

“Share”
means one share of Common Stock.

“Stock
Appreciation Right” or “SAR” means a right granted to a Grantee under Section 9.

“Stockholder”
means a stockholder of the Company.

“Subsidiary”
means any corporation, partnership, joint venture, affiliate, or other entity in which the Company owns more than 50% of the voting
stock or voting ownership interest, as applicable, or any other business entity designated by the Board as a Subsidiary for purposes
of the Plan.

“Substitute
Award” means any Award granted in assumption of or in substitution for an award of a company or business acquired by
the Company or an Affiliate or with which the Company or an Affiliate combines.

“Ten
Percent Stockholder” means an individual who owns more than 10% of the total combined voting power of all classes of
outstanding stock of the Company, its parent or any of its Subsidiaries. In determining stock ownership, the attribution rules
of Code Section 424(d) shall be applied.

“Termination
Date” means the date that is 10 years after the Effective Date, unless the Plan is earlier terminated by the Board under
Section 5.2.

		3.	ADMINISTRATION
                                         OF THE PLAN

		3.1.	General

The
Board shall have such powers and authorities related to the administration of the Plan as are consistent with the Company’s
articles of incorporation, bylaws and applicable law, and as further described in Section 3.3. To the extent permitted
by applicable law, the Board shall have the power and authority to delegate its powers and responsibilities hereunder to the Committee,
which shall have full authority to act in accordance with its charter, and with respect to the authority of the Board to act hereunder.
All references to the Board shall be deemed to include a reference to the Committee, to the extent such power or responsibilities
of the Board have been delegated. The Committee shall administer the Plan; provided that the Board shall retain the right
to exercise the authority of the Committee to the extent consistent with applicable law and the applicable requirements of any
securities exchange on which the Common Stock may then be listed.

    	 	5	 

     

    

3.2.           
Committee Composition

Except
as otherwise determined by the Board, the Committee shall consist solely of two or more Non-Employee Directors. The Board
shall have discretion to determine whether or not it intends to comply with the exemption requirements of SEC Rule 16b-3.
However, if the Board intends to satisfy such exemption requirements, with respect to any insider subject to Section 16 of
the Exchange Act, the Committee shall be a compensation committee of the Board that at all times consists solely of two or
more Non-Employee Directors. To the extent permitted by applicable law, the Board or the Committee may delegate its authority
to grant Awards to any individual or committee of individuals who are not Non-Employee Directors with respect to Awards that
do not involve insiders within the meaning of SEC Rule 16. To the extent that the Board delegates its authority to make
Awards as provided by this Section 3.1, all references in the Plan to the Board’s authority to make Awards
and determinations with respect thereto shall be deemed to include the Board’s delegate. Any such delegate shall serve
at the pleasure of, and may be removed at any time by the Board. Nothing herein shall create an inference that an Award is
not validly granted under the Plan in the event Awards are granted under the Plan by a compensation committee of the Board
that does not at all times consist solely of two or more Non-Employee Directors.

3.3.           
Authority of Board

Except
as specifically provided in Section 13 or as otherwise may be required by applicable law, regulatory requirement,
or the articles of incorporation or the bylaws of the Company, the Board shall have full power and authority to take all actions
and to make all determinations required or provided for under the Plan, any Award or any Award Agreement, and shall have full
power and authority to take all such other actions and make all such other determinations not inconsistent with the specific terms
and conditions of the Plan that the Board deems to be necessary or appropriate to the administration of the Plan. The interpretation
and construction by the Board of the Plan, any Award, or any Award Agreement shall be final, binding, and conclusive. Without
limitation, the Board shall have full and final authority, subject to the other terms and conditions of the Plan, to:

		(1)	construe
                                         and interpret the Plan and apply its provisions;

		(2)	designate
                                         Grantees;

		(2)	determine
                                         the type or types of Awards to be made to a Grantee and the applicable Grant Date;

		(3)	determine
                                         the number of Shares to be subject to an Award;

		(4)	establish
                                         the terms and conditions of each Award (including the Option Price of any Option, the
                                         nature and duration of any restriction or condition (or provision for lapse thereof)
                                         relating to the vesting, exercise, transfer, or forfeiture of an Award or the Shares
                                         subject thereto, and any terms or conditions that may be necessary to qualify Options
                                         as Incentive Stock Options);

		(5)	prescribe
                                         the form of each Award Agreement;

		(6)	amend,
                                         modify, or supplement the terms and conditions of any outstanding Award, including the
                                         authority, in order to effectuate the purposes of the Plan, to modify Awards to foreign
                                         nationals or individuals who are employed outside the U.S. to recognize differences in
                                         local law, tax policy, or custom;

    	 	6	 

     

    

 

		(7)	promulgate,
                                         amend and rescind rules and regulations relating to the administration of the Plan;

		(8)	to
                                         authorize any person to execute, on behalf of the Company, any instrument required to
                                         carry out the purposes of the Plan; and

		(9)	to
                                         modify the Option Price or SAR Exercise Price of any outstanding Option or SAR, provided
                                         that if the modification effects a repricing, shareholder approval shall be required
                                         before the repricing is effective.

		3.4.	Separation
                                         from Service for Cause; Clawbacks

		3.4.1.	Separation
                                         from Service for Cause

The
Company may annul an Award if the Grantee incurs a Separation from Service for Cause.

		3.4.2.	Clawbacks

All
awards, amounts, or benefits received or outstanding under the Plan shall be subject to clawback, cancellation, recoupment, rescission,
payback, reduction, or other similar action in accordance with any Company clawback or similar policy (“Clawback Policy”)
or any applicable law related to such actions. In addition, a Grantee may be required to repay to the Company previously paid
compensation, whether provided pursuant to the Plan or an Award Agreement in accordance with the Clawback Policy. A Grantee’s
acceptance of an Award shall be deemed to constitute the Grantee’s acknowledgement of and consent to the Company’s
application, implementation, and enforcement of any applicable Company clawback or similar policy that may apply to the Grantee,
whether adopted before or after the Effective Date and whether before or after the Grant Date of an Award, and any applicable
law relating to clawback, cancellation, recoupment, rescission, payback, or reduction of compensation, and the Grantee’s
agreement that the Company may take any actions that may be necessary to effectuate any such policy or applicable law, without
further consideration or action.

		3.5.	Deferral
                                         Arrangement

The
Board may permit or require the deferral of any Award payment into a deferred compensation arrangement, subject to such rules
and procedures as it may establish and in accordance with Section 409A, which may include terms and conditions for the payment
or crediting of interest or dividend equivalents, including converting such credits into deferred units.

		3.6.	No
                                         Liability

No
member of the Board shall be liable for any action or determination made in good faith with respect to the Plan, any Award, or
Award Agreement.

    	 	7	 

     

    

 

		3.7.	Book
                                         Entry

 

Notwithstanding
any other term or condition of the Plan, the Company may elect to satisfy any requirement under the Plan for the delivery of stock
certificates through the use of book-entry.

		4.	shares
                                         SUBJECT TO THE PLAN

		4.1.	Authorized
                                         Number of Shares

Subject
to adjustment under Section 14, the total number of Shares authorized to be awarded under the Plan shall not exceed
the sum of (1) 6,000,000 and (2) the number of Shares available for the grant of awards as of the Effective Date under the Prior
Plan. In addition, Shares underlying any outstanding award granted under a Prior Plan that, after the Effective Date, expires,
or is terminated, surrendered, or forfeited for any reason without issuance of Shares shall be available for the grant of new
Awards. As provided in Section 1, no new awards shall be granted under the Prior Plan after the Effective Date. Shares
issued under the Plan shall consist in whole or in part of authorized but unissued Shares, treasury Shares, or Shares purchased
on the open market or otherwise, all as determined by the Company from time to time. All of the Shares available under this 4.1
may be issued pursuant to the exercise of Incentive Stock Options.

		4.2.	Share
                                         Counting

		4.2.1.	General

Each
Share granted in connection with an Award shall be counted as one Share against the limit in Section 4.1, subject
to this Section 4.2.

		4.2.2.	Cash-Settled
                                         Awards

Any
Award settled in cash shall not be counted as Shares for any purpose under the Plan.

		4.2.3.	Expired
                                         or Terminated Awards

If
any Award expires, or is terminated, surrendered, or forfeited, in whole or in part, the unissued Shares covered by that Award
shall again be available for the grant of Awards.

		4.2.4.	Repurchased,
                                         Surrendered, or Forfeited Awards

If
Issued Shares are repurchased by, or are surrendered or forfeited to the Company at no more than cost, such Shares shall again
be available for the grant of Awards.

		4.2.5.	Payment
                                         of Option Price or Tax Withholding in Shares

Notwithstanding
anything to the contrary contained herein: Shares subject to an Award under the Plan shall not again be made available for issuance
or delivery under the Plan if such Shares are (i) Shares tendered in payment of an Option, (ii) Shares delivered or withheld by
the Company to satisfy any tax withholding obligation, (iii) Shares covered by a Share-settled SAR or other Shares that were not
issued upon the settlement of the SAR.

    	 	8	 

     

    

 

		4.2.6.	Substitute
                                         Awards

 

In
the case of any Substitute Award, such Substitute Award shall not be counted against the number of Shares reserved under the Plan.

		5.	EFFECTIVE
                                         DATE, DURATION, AND AMENDMENTS

		5.1.	Term

The
Plan shall be effective as of the Effective Date but no Award shall be exercised or paid unless and until the Plan has been approved
by the Stockholders, which approval shall be within twelve (12) months after the date the Plan is adopted by the Board. The Plan
shall terminate automatically on the 10-year anniversary of the Effective Date and may be terminated on any earlier date as provided
in Section 5.2.

		5.2.	Amendment
                                         and Termination of the Plan

The
Board may, at any time and from time to time, amend, suspend, or terminate the Plan as to any Awards that have not been made.
An amendment shall be contingent on approval of the Stockholders to the extent stated by the Board, required by applicable law,
or required by applicable securities exchange listing requirements. No Awards may be granted after the Termination Date. The applicable
terms and conditions of the Plan, and any terms and conditions applicable to Awards granted before the Termination Date shall
survive the termination of the Plan and continue to apply to such Awards. No amendment, suspension, or termination of the Plan
shall, without the consent of the Grantee, materially impair rights or obligations under any Award theretofore awarded.

		6.	AWARD
                                         ELIGIBILITY AND LIMITATIONS

		6.1.	Service
                                         Providers

Awards
may be made to any Service Provider, as the Board may determine and designate from time to time, subject to Section 8.7 in the
case of an Incentive Stock Option. The Board may grant an Award to a person who is reasonably expected to become a Service Provider
provided that such grant is contingent upon such person becoming a Service Provider.

		6.2.	Successive
                                         Awards

Service
Providers may receive more than one Award, subject to such restrictions as are provided herein.

		6.3.	Stand-Alone,
                                         Additional, Tandem, and Substitute Awards

The
Board may grant Awards either alone or in addition to, in tandem with, or in substitution or exchange for, any other Award or
any award granted under another plan of the Company, any Affiliate, or any business entity to be acquired by the Company or
an Affiliate, or any other right of a Grantee to receive payment from the Company or any Affiliate. Such additional, tandem,
substitute or exchange Awards may be granted at any time. If an Award is granted in substitution or exchange for another
Award, the Board shall have the right to require the surrender of such other Award in consideration for the grant of the new
Award. Subject to Section 3.3(9), the Board shall have the right to make Awards in substitution or exchange for any
other award under another plan of the Company, any Affiliate, or any business entity to be acquired by the Company or an
Affiliate. In addition, Awards may be granted in lieu of cash compensation, including in lieu of cash amounts payable under
other plans of the Company or any Affiliate, in which the value of Shares subject to the Award is equivalent in value to the
cash compensation (for example, RSUs or Restricted Shares).

    	 	9	 

     

    

 

		7.	AWARD
                                         AGREEMENT

Each
Award shall be evidenced by an Award Agreement, in such form or forms as the Board shall from time to time determine. Without
limiting the foregoing, an Award Agreement may be provided in the form of a notice that provides that acceptance of the Award
constitutes acceptance of all terms and conditions of the Plan and the notice. Award Agreements granted from time to time or at
the same time need not contain similar terms and conditions but shall be consistent with the terms and conditions of the Plan.
Each Award Agreement evidencing an Award of Options shall specify whether such Options are intended to be Nonstatutory Stock Options
or Incentive Stock Options, and in the absence of such specification such options shall be deemed Nonstatutory Stock Options.

		8.	TERMS
                                         AND CONDITIONS OF OPTIONS

		8.1.	Option
                                         Price

The
Option Price of each Option shall be fixed by the Board and stated in the related Award Agreement. Each Option shall be separately
designated in the Award Agreement as either an Incentive Stock Option or Nonqualified Option. The Option Price of each Option
(except those that constitute Substitute Awards) shall be at least the Fair Market Value of a Share on the Grant Date; provided,
however, that in the event that a Grantee is a Ten Percent Stockholder as of the Grant Date, the Option Price of an Option
granted to such Grantee that is intended to be an Incentive Stock Option shall be not less than 110% of the Fair Market Value
of a Share on the Grant Date. In no case shall the Option Price of any Option be less than the par value of a Share.

		8.2.	Vesting

Subject
to Section 8.3, each Option shall become exercisable at such times and under such terms and conditions (including
performance requirements) as may be determined by the Board and stated in the Award Agreement. No Option may be exercised for
a fraction of a Share. The Board may, but shall not be required to, provide for an acceleration of vesting and exercisability
in the terms of any Award Agreement upon the occurrence of a specified event.

		8.3.	Term

8.3.1       General

Each
Option shall terminate, and all rights to purchase Shares thereunder shall cease, upon the expiration of a period not to
exceed 10 years from the Grant Date, or under such circumstances and on any date before 10 years from the Grant Date as may
be set forth in the Plan or as may be fixed by the Board and stated in the related Award Agreement; provided, however,
that in the event that the Grantee is a Ten Percent Stockholder, an Option granted to such Grantee that is intended to be an
Incentive Stock Option at the Grant Date shall not be exercisable after the expiration of five years from its Grant
Date.

    	 	10	 

     

    

8.3.2       Separation
from Service

Unless
otherwise provided in an Award Agreement or in an employment agreement the terms of which have been approved by the Board, in
the event a Grantee has a Separation from Service (other than upon the Grantee’s death or Disability), the Grantee may exercise
his or her Option (to the extent that the Grantee was entitled to exercise such Option as of the date of Separation from Service)
but only within such period of time ending on the earlier of (a) the date three months following the Grantee’s Separation
from Service or (b) the expiration of the term of the Option as set forth in the Award Agreement; provided that, if the
Separation from Service is by the Company for Cause or if the Grantee’s Separation from Service is due to resignation, all
outstanding Options (whether or not vested) shall immediately terminate and cease to be exercisable. If, after termination, the
Grantee does not exercise his or her Option within the time specified in the Award Agreement, the Option shall terminate.

 

8.3.3       Extension
of Termination Date

 

A
Grantee's Award Agreement may also provide that if the exercise of the Option following the Grantee’s Separation from Service
for any reason would be prohibited at any time because the issuance of Shares would violate the registration requirements under
the Securities Act or any other state or federal securities law or the rules of any securities exchange or interdealer quotation
system, then the Option shall terminate on the earlier of (a) the expiration of the term of the Option in accordance with Section
8.3.1 or (b) the expiration of a period after the Grantee’s Separation from Service that is three months after the end of
the period during which the exercise of the Option would be in violation of such registration or other securities law requirements.

 

8.3.4       Disability
of Grantee

 

Unless
otherwise provided in an Award Agreement, in the event of a Grantee’s Separation from Service as a result of the Grantee's
Disability, the Grantee may exercise his or her Option (to the extent that the Grantee was entitled to exercise such Option as
of the date of termination), but only within such period of time ending on the earlier of (a) the date 12 months following such
termination or (b) the expiration of the term of the Option as set forth in the Award Agreement. If, after termination, the Grantee
does not exercise his or her Option within the time specified herein or in the Award Agreement, the Option shall terminate.

 

8.3.5       Death
of Grantee

 

Unless
otherwise provided in an Award Agreement, in the event of a Grantee’s Separation from Service as a result of the
Grantee's death, then the Option may be exercised (to the extent the Grantee was entitled to exercise such Option as of the
date of death) by the Grantee's estate, by a person who acquired the right to exercise the Option by bequest or inheritance
or by a person designated to exercise the Option upon the Grantee's death, but only within the period ending on the earlier
of (a) the date 12 months following the date of death or (b) the expiration of the term of such Option as set forth in the
Award Agreement. If, after the Grantee's death, the Option is not exercised within the time specified herein or in the Award
Agreement, the Option shall terminate.

    	 	11	 

     

    

 

 

		8.4.	Limitations
                                         on Exercise of Option

Notwithstanding
any other term or condition of the Plan, in no event may any Option be exercised, in whole or in part, after the occurrence of
an event that results in termination of the Option.

		8.5.	Method
                                         of Exercise

An
Option that is exercisable may be exercised by the Grantee’s delivery of a notice of exercise to the Company, setting forth
the number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares. To be effective,
notice of exercise must be made in accordance with procedures established by the Company from time to time.

		8.6.	Rights
                                         of Holders of Options

Unless
otherwise stated in the related Award Agreement, an individual holding or exercising an Option shall have none of the rights of
a Stockholder (for example, the right to receive cash or dividend payments or distributions attributable to the subject Shares
or to direct the voting of the subject Shares) until the Shares covered thereby are fully paid and issued to him or her. Except
as provided in Section 14 or the related Award Agreement, no adjustment shall be made for dividends, distributions,
or other rights for which the record date is before the date of such issuance.

		8.7.	Limitations
                                         on Incentive Stock Options

An
Option shall constitute an Incentive Stock Option only (1) if the Grantee of the Option is an employee of the Company or
any Subsidiary; (2) to the extent specifically provided in the related Award Agreement; and (3) to the extent that the
aggregate Fair Market Value (determined at the time the Option is granted) of the Shares with respect to which all Incentive Stock
Options held by such Grantee become exercisable for the first time during any calendar year (under the Plan and all other plans
of the Grantee’s employer and its Affiliates) does not exceed $100,000. This limitation shall be applied by taking Options
into account in the order in which they were granted. No Option shall be treated as an Incentive Stock Option unless the Plan
has been approved by the Stockholders in a manner intended to comply with the stockholder approval requirements of Code Section 422;
provided that any Option intended to be an Incentive Stock Option shall not fail to be effective solely on account of a
failure to obtain such approval, but rather such Option shall be treated as a Nonstatutory Stock Option unless and until such
approval is obtained.

		9.	TERMS
                                         AND CONDITIONS OF STOCK APPRECIATION RIGHTS (SARs)

		9.1.	Right
                                         to Payment

A
SAR shall confer on the Grantee a right to receive, upon exercise thereof, the excess of (1) the Fair Market Value of
one Share on the date of exercise over (2) the SAR Exercise Price. The Award Agreement for a SAR (except those that
constitute Substitute Awards) shall specify the SAR Exercise Price, which shall be fixed on the Grant Date as not less than
the Fair Market Value of a Share on that date. SARs may be granted alone or in conjunction with all or part of an Option or
at any subsequent time during the term of such Option or in conjunction with all or part of any other Award. A SAR granted in
tandem with an outstanding Option after the Grant Date of such Option shall have a SAR Exercise Price that is equal to the
Option Price; provided, however, that the SAR Exercise Price may not be less than the Fair Market Value of a
Share on the Grant Date of the SAR to the extent required by Section 409A.

    	 	12	 

     

    

 

		9.2.	Other
                                         Terms

The
Board shall determine at the Grant Date the time or times at which and the circumstances under which a SAR may be exercised in
whole or in part (including based on achievement of performance goals and/or future service requirements), the time or times at
which SARs shall cease to be or become exercisable after Separation from Service or upon other terms or conditions, the method
of exercise, whether or not a SAR shall be in tandem or in combination with any other Award, and any other terms and conditions
of any SAR.

		9.3.	Term
                                         of SARs

The
term of a SAR granted under the Plan shall be determined by the Board and stated in the related Award Agreement; provided,
however, that such term shall not exceed 10 years.

		9.4.	Payment
                                         of SAR Amount

Upon
exercise of a SAR, a Grantee shall be entitled to receive payment from the Company (in cash or Shares) in an amount determined
by multiplying:

		(1)	the
                                         difference between the Fair Market Value of a Share on the date of exercise over the
                                         SAR Exercise Price; by

		(2)	the
                                         number of Shares with respect to which the SAR is exercised.

		10.	TERMS
                                         AND CONDITIONS OF RESTRICTED SHARES AND RESTRICTED STOCK UNITS (RSUs)

		10.1.	Restrictions

At
the time of grant, the Board may establish a period of time (a “Restricted Period”) and any additional restrictions
including the satisfaction of corporate or individual performance objectives. Each Award of Restricted Shares or RSUs may be subject
to a different Restricted Period and additional restrictions. Neither Restricted Shares nor RSUs may be sold, transferred, assigned,
pledged, or otherwise encumbered or disposed of during the Restricted Period or before the satisfaction of any other applicable
restrictions.

		10.2.	Restricted
                                         Share Certificates

The
Company shall issue, in the name of each Grantee to whom Restricted Shares have been granted, stock certificates or other evidence
of ownership representing the total number of Restricted Shares granted to the Grantee, as soon as reasonably practicable after
the Grant Date.

    	 	13	 

     

    

 

		10.3.	Rights
                                         of Holders of Restricted Shares

Unless
the Board otherwise provides in an Award Agreement and subject to Section 16.10, holders of Restricted Shares shall
have rights as Stockholders, including voting and dividend rights.

		10.4.	Rights
                                         of Holders of RSUs

		10.4.1.	Settlement
                                         of RSUs

RSUs
may be settled in cash or Shares, as determined by the Board and set forth in the Award Agreement. The Award Agreement shall also
set forth whether the RSUs shall be settled (1) within the time period specified for “short term deferrals” under
Section 409A or (2) otherwise within the requirements of Section 409A, in which case the Award Agreement shall
specify upon which events such RSUs shall be settled.

		10.4.2.	Voting
                                         and Dividend Rights

Unless
otherwise stated in the applicable Award Agreement and subject to Section 16.10, holders of RSUs shall not have rights
as Stockholders, including no voting or dividend or dividend equivalents rights.

		10.4.3.	Creditor’s
                                         Rights

A
holder of RSUs shall have no rights other than those of a general creditor of the Company. RSUs represent an unfunded and unsecured
obligation of the Company, subject to the applicable Award Agreement.

		10.5.	Purchase
                                         of Restricted Shares

The
Grantee shall be required, to the extent required by applicable law, to purchase Restricted Shares from the Company at a Purchase
Price equal to the greater of (1) the aggregate par value of the Restricted Shares or (2) the Purchase Price, if any,
specified in the related Award Agreement. If specified in the Award Agreement, the Purchase Price may be deemed paid by services
already rendered. The Purchase Price shall be payable in a form described in Section 11 or, if permitted by the Board,
in consideration for past services rendered.

		10.6.	Delivery
                                         of Shares

Upon
the expiration or termination of any Restricted Period and the satisfaction of any other terms and conditions prescribed by the
Board, the restrictions applicable to Restricted Shares or RSUs settled in Shares shall lapse, and, unless otherwise provided
in the Award Agreement, a stock certificate for such Shares shall be delivered, free of all such restrictions, to the Grantee
or the Grantee’s beneficiary or estate, as the case may be.

    	 	14	 

     

    

 

		11.	FORM
                                         OF PAYMENT FOR OPTIONS AND RESTRICTED SHARES

		11.1.	General
                                         Rule

Payment
of the Option Price for an Option or the Purchase Price for Restricted Shares shall be made in cash or in cash equivalents acceptable
to the Company, except as provided in this Section 11. Notwithstanding any provision of this Section 11, during any
period for which the Common Stock is publicly traded (i.e., the Common Stock is listed on any established stock exchange or a
national market system) an exercise by a Non-Employee Director or officer that involves or may involve a direct or indirect extension
of credit or arrangement of an extension of credit by the Company, directly or indirectly, in violation of Section 402(a) of the
Sarbanes-Oxley Act of 2002 shall be prohibited with respect to any Award under this Plan.

		11.2.	Surrender
                                         of Shares

To
the extent the Award Agreement so provides, payment of the Option Price for an Option or the Purchase Price for Restricted Shares
may be made all or in part through the tender to, or withholding by, the Company of Shares that shall be valued, for purposes
of determining the extent to which the Option Price or Purchase Price for Restricted Shares has been paid thereby, at their Fair
Market Value on the date of exercise or surrender. Notwithstanding the foregoing, in the case of an Incentive Stock Option, the
right to make payment in the form of already owned Shares may be authorized only at the time of grant.

		11.3.	Cashless
                                         Exercise

With
respect to an Option only (and not with respect to Restricted Shares), to the extent permitted by law and to the extent the Award
Agreement so provides, payment of the Option Price may be made all or in part by delivery (on a form acceptable to the Company)
of an irrevocable direction to a licensed securities broker acceptable to the Company to sell Shares and to deliver all or part
of the sales proceeds to the Company in payment of the Option Price and any withholding taxes described in Section 16.3.

		11.4.	Other
                                         Forms of Payment

To
the extent the Award Agreement so provides, payment of the Option Price or the Purchase Price for Restricted Shares may be made
in any other form that is consistent with applicable laws, regulations, and rules, including the Company’s withholding of
Shares otherwise due to the exercising Grantee.

		12.	other
                                         sTOCK-based awards

		12.1.	Grant
                                         of Other Stock-based Awards

Other
Stock-based Awards may be granted either alone or in addition to or in conjunction with other Awards. Other Stock-based
Awards may be granted in lieu of other cash or other compensation to which a Service Provider is entitled from the Company or
may be used in the settlement of amounts payable in Shares under any other compensation plan or arrangement of the Company.
Subject to the terms and conditions of the Plan, the Board shall determine the persons to whom and the time or times at which
such Awards may be made, the number of Shares to be granted under such Awards, and all other terms and conditions of such
Awards. Unless the Board determines otherwise, any such Award shall be confirmed by an Award Agreement, which shall contain
such terms and conditions as the Board determines to be necessary or appropriate to carry out the intent of the Plan with
respect to such Award.

    	 	15	 

     

    

 

12.2.       
Terms of Other Stock-based Awards

Any
Shares subject to Awards made under this Section 12 may not be sold, assigned, transferred, pledged, or otherwise
encumbered before the date on which the Shares are issued, or, if later, the date on which any applicable restriction, performance,
or deferral period lapses.

		13.	REQUIREMENTS
                                         OF LAW

		13.1.	General

The
Company shall not be required to sell or issue any Shares under any Award if the sale or issuance of such Shares would constitute
a violation by the Grantee, any other individual, or the Company of any law or regulation of any governmental authority, including
any federal or state securities laws or regulations. If at any time the Company determines that the listing, registration, or
qualification of any Shares subject to an Award upon any securities exchange or under any governmental regulatory body is necessary
or desirable as a term or condition of, or in connection with, the issuance or purchase of Shares hereunder, no Shares may be
issued or sold to the Grantee or any other individual exercising an Option unless such listing, registration, qualification, consent
or approval shall have been effected or obtained free of any terms and conditions not acceptable to the Company, and any delay
caused thereby shall in no way affect the date of termination of the Award. Specifically, in connection with the Securities Act,
upon the exercise of any Option or the delivery of any Shares underlying an Award, unless a registration statement under such
Act is in effect with respect to the Shares covered by such Award, the Company shall not be required to sell or issue such Shares
unless the Board has received evidence satisfactory to it that the Grantee or any other individual exercising an Option may acquire
such Shares under an exemption from registration under the Securities Act. The Company may, but shall not be obligated to, register
any securities covered hereby under the Securities Act. The Company shall not be obligated to take any affirmative action in order
to cause the exercise of an Option or the issuance of Shares under the Plan to comply with any law or regulation of any governmental
authority. As to any jurisdiction that expressly imposes the requirement that an Option shall not be exercisable until the Shares
covered by such Option are registered or are exempt from registration, the exercise of such Option (under circumstances in which
the laws of such jurisdiction apply) shall be deemed conditioned upon the effectiveness of such registration or the availability
of such an exemption. The Board may require the Grantee to sign such additional documentation, make such representations, and
furnish such information as the Board may consider appropriate in connection with the grant of Awards or issuance or delivery
of Shares in compliance with applicable laws.

		13.2.	California
                                         Grantees

The
Plan is intended to comply with Section 25102(o) of the California Corporations Code, to the extent applicable. In that
regard, to the extent required by Section 25102(o), (1) the terms of any Options or SARs, to the extent vested and
exercisable upon a Grantee’s Separation from Service, shall include any minimum exercise periods following Separation
from Service specified by Section 25102(o) and (2) any repurchase right of the Company with respect to Issued Shares shall
include a minimum 90-day notice requirement. Any Plan term that is inconsistent with Section 25102(o) shall, without further
act or amendment by the Company or the Board, be reformed to comply with the requirements of Section 25102(o).

    	 	16	 

     

    

 

		14.	EFFECT
                                         OF CHANGES IN CAPITALIZATION

		14.1.	Changes
                                         in Common Stock

If
(1) the number of outstanding Shares is increased or decreased or the Shares are changed into or exchanged for a different number
or kind of shares or other securities of the Company on account of any recapitalization, reclassification, stock split, reverse
split, combination of shares, exchange of shares, stock dividend or other distribution payable in capital stock, or other increase
or decrease in such Shares effected without receipt of consideration by the Company occurring after the Effective Date or (2)
there occurs any spin-off, split-up, extraordinary cash dividend, or other distribution of assets by the Company, (A) the number
and kinds of shares for which grants of Awards may be made (including the per-Grantee maximums set forth in Section 4),
(B) the number and kinds of shares for which outstanding Awards may be exercised or settled, and (C) the performance goals relating
to outstanding Awards, shall be equitably adjusted by the Company; provided that any such adjustment shall comply with
Section 409A. In addition, in the event of any such increase or decease in the number of outstanding shares or other transaction
described in clause (2) above, the number and kind of shares for which Awards are outstanding and the Option Price per share of
outstanding Options and SAR Exercise Price per share of outstanding SARs shall be equitably adjusted; provided that any
such adjustment shall comply with Section 409A.

		14.2.	Effect
                                         of Certain Transactions

Except
as otherwise provided in an Award Agreement, in the event of a Corporate Transaction, the Plan and the Awards shall continue
in effect in accordance with their respective terms, except that after a Corporate Transaction either (1) each outstanding
Award shall be treated as provided for in the agreement entered into in connection with the Corporate Transaction or (2) if
not so provided in such agreement, each Grantee shall be entitled to receive in respect of each Share subject to any
outstanding Awards, upon exercise or payment or transfer in respect of any Award, the same number and kind of stock,
securities, cash, property, or other consideration that each Stockholder was entitled to receive in the Corporate Transaction
in respect of one Share; provided, however, that, unless otherwise determined by the Board, such stock,
securities, cash, property or other consideration shall remain subject to all of the terms and conditions (including
performance criteria) that were applicable to the Awards before such Corporate Transaction. Without limiting the generality
of the foregoing, the treatment of outstanding Options and SARs under this Section 14.2 in connection with a
Corporate Transaction in which the consideration paid or distributed to the Stockholders is not entirely shares of common
stock of the acquiring or resulting corporation may include the cancellation of outstanding Options and SARs upon
consummation of the Corporate Transaction as long as, at the election of the Board, (A) the holders of affected Options and
SARs have been given a period of at least 15 days before the date of the consummation of the Corporate Transaction to
exercise the Options or SARs (to the extent otherwise exercisable) or (B) the holders of the affected Options and SARs are
paid (in cash or cash equivalents) in respect of each Share covered by the Option or SAR being canceled an amount equal to
the excess, if any, of the per Share price paid or distributed to Stockholders in the Corporate Transaction (the value of any
noncash consideration to be determined by the Board) over the Option Price or SAR Exercise Price, as applicable. For
avoidance of doubt, (i) the cancellation of Options and SARs under clause (B) of the preceding sentence may be effected
notwithstanding any other term or condition of the Plan or any Award Agreement and (ii) if the amount determined under clause
(B) of the preceding sentence is zero or less, the affected Option or SAR may be cancelled without any payment therefore. The
treatment of any Award as provided in this Section 14.2 shall be conclusively presumed to be appropriate for
purposes of Section 14.1.

    	 	17	 

     

    

 

		14.3.	Change
                                         in Control

Subject
to the requirements and limitations of Section 409A, if applicable, the Board may provide for any one or more of the following
in connection with a Change in Control, which such actions need not be the same for all Grantees:

		(1)	Accelerated
                                         Vesting. Unless otherwise provided in any Award Agreement, upon a Grantee’s
                                         Separation from Service immediately prior to, upon, or following a Change in Control
                                         for any reason other than Cause, the exercisability, vesting and/or settlement of an
                                         Award shall immediately accelerate.

		(2)	Assumption,
                                         Continuation or Substitution. In the event of a Change in Control, the surviving,
                                         continuing, successor, or purchasing corporation or other business entity or parent thereof,
                                         as the case may be (the “Acquiror”), may, without the consent of any
                                         Grantee, either assume or continue the Company’s rights and obligations under each
                                         or any Award or portion thereof outstanding immediately prior to the Change in Control
                                         or substitute for each or any such outstanding Award or portion thereof a substantially
                                         equivalent award with respect to the Acquiror’s stock, as applicable. For purposes
                                         of this Section 14.3, if so determined by the Board, in its discretion, an Award
                                         denominated in Shares shall be deemed assumed if, following the Change in Control, the
                                         Award confers the right to receive, subject to the terms and conditions of the Plan and
                                         the applicable Award Agreement, for each Share subject to the Award immediately prior
                                         to the Change in Control, the consideration (whether stock, cash, other securities or
                                         property or a combination thereof) to which a holder of a Share on the effective date
                                         of the Change in Control was entitled; provided, however, that if such consideration
                                         is not solely common stock of the Acquiror, the Board may, with the consent of the Acquiror,
                                         provide for the consideration to be received upon the exercise or settlement of the Award,
                                         for each Share subject to the Award, to consist solely of common stock of the Acquiror
                                         equal in Fair Market Value to the per share consideration received by holders of Shares
                                         pursuant to the Change in Control. If any portion of such consideration may be received
                                         by holders of Shares pursuant to the Change in Control on a contingent or delayed basis,
                                         the Board may, in its sole discretion, determine such Fair Market Value per share as
                                         of the time of the Change in Control on the basis of the Board’s good faith estimate
                                         of the present value of the probable future payment of such consideration. Any Award
                                         or portion thereof which is neither assumed or continued by the Acquiror in connection
                                         with the Change in Control nor exercised or settled as of the time of consummation of
                                         the Change in Control shall terminate and cease to be outstanding effective as of the
                                         time of consummation of the Change in Control.

    	 	18	 

     

    
 

		(3)	Cash-Out
                                         of Awards. The Board may, in its discretion and without the consent of any Grantee,
                                         determine that, upon the occurrence of a Change in Control, each or any Award or a portion
                                         thereof outstanding immediately prior to the Change in Control and not previously exercised
                                         or settled shall be canceled in exchange for a payment with respect to each vested Share
                                         (and each unvested Share, if so determined by the Board) subject to such canceled Award
                                         in (i) cash, (ii) stock of the Company or of a corporation or other business entity a
                                         party to the Change in Control, or (iii) other property which, in any such case, shall
                                         be in an amount having a Fair Market Value equal to the Fair Market Value of the consideration
                                         to be paid per Share in the Change in Control, reduced by the exercise or purchase price
                                         per share, if any, under such Award. If any portion of such consideration may be received
                                         by holders of Shares pursuant to the Change in Control on a contingent or delayed basis,
                                         the Board may, in its sole discretion, determine such Fair Market Value per share as
                                         of the time of the Change in Control on the basis of the Board’s good faith estimate
                                         of the present value of the probable future payment of such consideration. In the event
                                         such determination is made by the Board, the amount of such payment (reduced by applicable
                                         withholding taxes, if any) shall be paid to Grantees in respect of the vested portions
                                         of their canceled Awards as soon as practicable following the date of the Change in Control
                                         and in respect of the unvested portions of their canceled Awards in accordance with the
                                         vesting schedules applicable to such Awards. The Board may, in its discretion, without
                                         payment of any consideration to the Grantee, cancel any outstanding Award to the extent
                                         not vested or exercised immediately prior to the Change in Control and not otherwise
                                         assumed or continued by the Acquiror in accordance with Section 14.3(2) above.

		14.4.	Adjustments

Adjustments
under this Section 14 related to Shares or other securities of the Company shall be made by the Board. No fractional
Shares or other securities shall be issued under any such adjustment, and any fractions resulting from any such adjustment shall
be eliminated in each case by rounding downward to the nearest whole Share.

		15.	No
                                         Limitations on Company

The
grant of Awards shall not affect or limit in any way the right or power of the Company to make adjustments, reclassifications,
reorganizations, or changes of its capital or business structure or to merge, consolidate, dissolve, or liquidate, or to sell
or transfer all or any part of its business or assets.

		16.	TERMS
                                         APPLICABLE GENERALLY TO AWARDS

		16.1.	Disclaimer
                                         of Rights

No
term or condition of the Plan or any Award Agreement shall be construed to confer upon any individual the right to remain in
the employ or service of the Company or any Affiliate, or to interfere in any way with any contractual or other right or
authority of the Company either to increase or decrease the compensation or other payments to any individual at any time, or
to terminate any employment or other relationship between any individual and the Company. In addition, notwithstanding any
other term or condition of the Plan, unless otherwise stated in the applicable Award Agreement, no Award shall be affected by
any change of duties or position of the Grantee, so long as such Grantee continues to be a Service Provider. The obligation
of the Company to pay any benefits under the Plan shall be interpreted as a contractual obligation to pay only those amounts
described herein, in the manner and under the terms and conditions prescribed herein. The Plan shall in no way be interpreted
to require the Company to transfer any amounts to a third party trustee or otherwise hold any amounts in trust or escrow for
payment to any Grantee or beneficiary under the Plan.

    	 	19	 

     

    

 

		16.2.	Nonexclusivity
                                         of the Plan

Neither
the adoption of the Plan nor the submission of the Plan to the Stockholders for approval shall be construed as creating any limitations
upon the right and authority of the Board to adopt such other incentive compensation arrangements (which arrangements may be applicable
either generally to a class or classes of individuals or specifically to a particular individual or particular individuals), including
the granting of Options as the Board determines desirable.

		16.3.	Withholding
                                         Taxes

The
Company or an Affiliate, as the case may be, shall have the right to deduct from payments of any kind otherwise due to a Grantee
any federal, state, or local taxes of any kind required by law to be withheld (1) with respect to the vesting of or other lapse
of restrictions applicable to an Award, (2) upon the issuance of any Shares upon the exercise of an Option or SAR, or (3) otherwise
due in connection with an Award. At the time of such vesting, lapse, or exercise, the Grantee shall pay to the Company or the
Affiliate, as the case may be, any amount that the Company or the Affiliate may reasonably determine to be necessary to satisfy
such withholding obligation. The Company or the Affiliate, as the case may be, may require or permit the Grantee to satisfy such
obligations, in whole or in part, (A) by causing the Company or the Affiliate to withhold up to the maximum required number of
Shares otherwise issuable to the Grantee as may be necessary to satisfy such withholding obligation or (B) by delivering to the
Company or the Affiliate Shares already owned by the Grantee. The Shares so delivered or withheld shall have an aggregate Fair
Market Value equal to such withholding obligations. The Fair Market Value of the Shares used to satisfy such withholding obligation
shall be determined by the Company or the Affiliate as of the date that the amount of tax to be withheld is to be determined.
To the extent applicable, a Grantee may satisfy his or her withholding obligation only with Shares that are not subject to any
repurchase, forfeiture, unfulfilled vesting, or other similar requirements.

		16.4.	Other
                                         Terms and Conditions; Employment Agreements

Each
Award Agreement may contain such other terms and conditions not inconsistent with the Plan as may be determined by the Board.
In the event of any conflict between the terms and conditions of an employment agreement and the Plan, the terms and conditions
of the employment agreement shall govern.

		16.5.	Severability

If
any term or condition of the Plan or any Award Agreement is determined to be illegal or unenforceable by any court of law in any
jurisdiction, the remaining terms and conditions hereof and thereof shall be severable and enforceable, and all terms and conditions
shall remain enforceable in any other jurisdiction.

    	 	20	 

     

    

 

		16.6.	Governing
                                         Law

The
Plan and all Award Agreements shall be construed in accordance with and governed by the laws of the State of Delaware without
regard to the principles of conflicts of law that could cause the application of the laws of any jurisdiction other than the State
of Delaware. For purposes of resolving any dispute that arises under the Plan, each Grantee, by virtue of receiving an Award,
shall be deemed to have submitted to and consented to the exclusive jurisdiction of the State of Florida and to have agreed that
any related litigation shall be conducted solely in the courts of Miami-Dade County or the federal courts for the U.S. for the
Southern District of Florida, where the Plan is made and to be performed, and no other courts. The Plan is not intended to be
subject to the Employee Retirement Income Security Act of 1974.

		16.7.	Section 409A

The
Plan is intended to comply with Section 409A to the extent subject thereto, and, accordingly, to the maximum extent permitted,
the Plan shall be interpreted and administered to be in compliance therewith. Any payments described in the Plan that are due
within the “short-term deferral period” as defined in Section 409A shall not be treated as deferred compensation
unless applicable laws require otherwise. For purposes of Section 409A, each installment payment under the Plan shall be treated
as a separate payment. Notwithstanding any other term or condition of the Plan, to the extent required to avoid accelerated taxation
or tax penalties under Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided
under the Plan during the six-month period immediately after the Grantee’s Separation from Service shall instead be paid
on the first payroll date after the six-month anniversary of the Grantee’s Separation from Service (or the Grantee’s
death, if earlier). Notwithstanding the foregoing, neither the Company nor the Board shall have any obligation to take any action
to prevent the assessment of any additional tax or penalty on any Grantee under Section 409A and neither the Company nor
the Board shall have any liability to any Grantee for such tax or penalty.

		16.8.	Separation
                                         from Service

The
Board shall determine the effect of a Separation from Service upon Awards, and such effect shall be set forth in the appropriate
Award Agreement. Without limiting the foregoing, the Board may provide in the Award Agreements at the time of grant, or any time
thereafter with the consent of the Grantee, the actions that may be taken upon the occurrence of a Separation from Service, including
accelerated vesting or termination, depending upon the circumstances surrounding the Separation from Service.

		16.9.	Transferability
                                         of Awards and Issued Shares

		16.9.1.	Transfers
                                         in General

Except
as provided in Section 16.9.2, no Award shall be assignable or transferable by the Grantee to whom it is granted,
other than by will or the laws of descent and distribution, and, during the lifetime of the Grantee, only the Grantee personally
(or the Grantee’s personal representative) may exercise rights under the Plan.

    	 	21	 

     

    

 

		16.9.2.	Family
                                         Transfers

If
authorized in the applicable Award Agreement, a Grantee may transfer, not for value, all or part of an Award (other than Incentive
Stock Options) to any Family Member. For the purpose of this Section 16.9.2, a “not for value” transfer
is a transfer that is (1) a gift, (2) a transfer under a domestic relations order in settlement of marital property
rights; or (3) a transfer to an entity in which more than 50% of the voting interests are owned by Family Members (or the
Grantee) in exchange for an interest in that entity. After a transfer under this Section 16.9.2, any such Award shall
continue to be subject to the same terms and conditions as were applicable immediately before transfer. Subsequent transfers of
transferred Awards are prohibited except to Family Members of the original Grantee in accordance with this Section 16.9.2
or by will or the laws of descent and distribution.

		16.10.	Dividend
                                         Equivalent Rights

If
specified in the Award Agreement, the recipient of an Award may be entitled to receive dividend equivalent rights with respect
to the Shares or other securities covered by an Award. The terms and conditions of a dividend equivalent right may be set forth
in the Award Agreement. Dividend equivalents credited to a Grantee may be paid in cash or deemed to be reinvested in additional
Shares or other securities of the Company at a price per unit equal to the Fair Market Value of a Share on the date that such
dividend was paid to Stockholders. Notwithstanding the foregoing, dividends or dividend equivalents shall not be paid on any Award
or portion thereof that is unvested or on any Award that is subject to the achievement of performance criteria before the Award
has become earned and payable.

		16.11.	Data
                                         Protection

A
Grantee’s acceptance of an Award shall be deemed to constitute the Grantee’s acknowledgement of and consent to the
collection and processing of personal data relating to the Grantee so that the Company can meet its obligations and exercise its
rights under the Plan and generally administer and manage the Plan. This data shall include data about participation in the Plan
and Shares offered or received, purchased, or sold under the Plan and other appropriate financial and other data (such as the
date on which the Awards were granted) about the Grantee and the Grantee’s participation in the Plan.

		16.12.	Disqualifying
                                         Dispositions

Any
Grantee who shall make a “disposition” (as defined in Section 424 of the Code) of all or any portion of Shares acquired
upon exercise of an Incentive Stock Option within two years from the Grant Date of such Incentive Stock Option or within one year
after the issuance of the Shares acquired upon exercise of such Incentive Stock Option shall be required to immediately advise
the Company in writing as to the occurrence of the sale and the price realized upon the sale of such shares of Common Stock.

		16.13.	Plan
                                         Construction

In
the Plan, unless otherwise stated, the following uses apply:

	(1)		references
to a statute or law refer to the statute or law and any amendments and any successor statutes or laws, and to all valid and binding
governmental regulations, court decisions, and other regulatory and judicial authority issued or rendered thereunder, as amended,
or their successors, as in effect at the relevant time;

	(2)		in computing
periods from a specified date to a later specified date, the words “from” and “commencing on” (and the
like) mean “from and including,” and the words “to,” “until” and “ending on” (and
the like) mean “to and including”;

	(3)		indications
of time of day shall be based upon the time applicable to the location of the principal headquarters of the Company;

	(4)		the words
“include,” “includes” and “including” (and the like) mean “include, without limitation,”
“includes, without limitation” and “including, without limitation” (and the like), respectively;

	(5)		all references
to articles and sections are to articles and sections in the Plan;

	(6)		all words
used shall be construed to be of such gender or number as the circumstances and context require;

	(7)		the captions
and headings of articles and sections have been inserted solely for convenience of reference and shall not be considered a part
of the Plan, nor shall any of them affect the meaning or interpretation of the Plan;

	(8)		any reference
to an agreement, plan, policy, form, document or set of documents, and the rights and obligations of the parties under any such
agreement, plan, policy, form, document or set of documents, shall mean such agreement, plan, policy, form, document or set of
documents as amended from time to time, and any and all modifications, extensions, renewals, substitutions or replacements thereof;
and

	(9)		all accounting
terms not specifically defined shall be construed in accordance with GAAP.

 

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