Document:

Exhibit 10.28
Execution Version

EXECUTIVE EMPLOYMENT AGREEMENT
THIS EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) between ANI Pharmaceuticals, Inc. (the “Company”) and Chad Gassert (“Executive”) dated as of March 8, 2021.  Each of the Company and Executive are sometimes referred to herein individually as a “Party” and together as the “Parties.”
WHEREAS, in connection with the transactions contemplated by that Agreement and Plan of Merger, dated as of March 8, 2021, by and among the Company, Nile Merger Sub LLC, Novitium Pharma, LLC (“Novitium”), Esjay LLC, Chali Properties, LLC, Executive, Muthusamy Shanmugam, Thorappadi Vijayaraj and Shareholders Representative Services LLC as representative of the Company Members (as defined in the Merger Agreement) (the “Merger Agreement”); 
WHEREAS, subject to, and effective as of, the consummation of the Merger (as defined in the Merger Agreement), the Company wishes to employ Executive, and Executive wishes to be employed by the Company on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual promises, terms, covenants and conditions set forth herein and the performance of each, the Parties hereto, intending to be legally bound, hereby agree as follows:
1.Employment.
(a)Commencement Date. Executive shall commence employment on the Closing Date (as defined in the Merger Agreement) (the actual date Executive commences employment, the “Commencement Date”).
(b)Duties. The Company hereby employs Executive in the position of Senior Vice President Corporate Development & Strategy, effective as of the Commencement Date.  Executive shall have all such responsibilities, duties and authorities as are consistent with the position of a Senior Vice President Corporate Development & Strategy and shall report to Nikhil Lalwani, the Chief Executive Officer of the Company (your “Supervisor”).  Executive shall work from the current Novitium office at 70 Lake Drive, East Windsor, NJ 08520.
(c)Full-time Employment. Executive hereby accepts this employment upon the terms and conditions contained herein and agrees to devote substantially all of Executive’s business time, attention and efforts to promote and further the business, interests, objectives and affairs of the Company, and Executive shall not be engaged in any other business activity pursued for gain, profit or other pecuniary advantage without the prior written consent of the Company; provided, however, that the foregoing limitations shall not be construed as prohibiting Executive from (i) continuing the business interests and engagements set forth on Appendix A to this Agreement and deriving gain, profit or other pecuniary advantage therefrom, (ii) serving on civic, charitable or other boards or committees and (iii) managing personal or family investments and personal passive investments in securities, in each case that will not interfere in any material respect with the performance of Executive’s duties hereunder.  Executive shall faithfully adhere to, execute and fulfill in all material respects all policies established by the Company in writing 

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and made available to Executive, consistent with the other terms of this Agreement.
2.Compensation.  For all services rendered by Executive in any capacity required hereunder, the Company shall compensate Executive as follows:
(a)Base Salary.  During the Term, the Company shall pay Executive, as compensation for Executive’s services, a base salary at a gross annual rate of four hundred and twenty thousand dollars ($420,000), less all required tax withholdings and other applicable deductions, in accordance with the Company’s standard payroll procedures.  The annual compensation specified in this subsection (a), together with any modifications in such compensation that the Company may make from time to time in accordance with the following sentence, is referred to in this Agreement as the “Base Salary.”  Executive’s Base Salary will be subject to review in accordance with the Company’s normal performance review practices.  Effective as of the date of any change to Executive’s Base Salary, the Base Salary as so changed shall be considered the new Base Salary for all purposes of this Agreement.
(b)Benefits and Other Compensation.  Executive shall be entitled to receive additional benefits and compensation from the Company as follows:
(i)Twenty (20) days paid vacation in each calendar year (pro-rated for partial calendar years worked).  Unused vacation shall not carry forward except to the extent expressly provided in the Company’s written policies.
(ii)Payment of such premiums (or such portion thereof as is provided by the Company’s plans) for coverage for Executive and his spouse and eligible dependents under any insurance plans that the Company may have in effect from time to time, on terms no less favorable to Executive than those generally provided to similarly situated employees of the Company;
(iii)The Company shall allow Executive to participate in all other Company-wide employee benefits as may, from time to time, be made available generally to any other executives of the Company, including the Company’s 401(k) plan; 
(iv)Reimbursement for business travel and other out-of-pocket expenses reasonably incurred by Executive in the performance of his duties, including without limitation, mobile phone expenses and membership fees associated with related professional associations.  All reimbursable expenses shall be subject to any pre-approval process established by Company policy and shall be appropriately documented in reasonable detail by Executive upon submission of any request for reimbursement, and in a format consistent with the Company’s expense reporting policy and shall be reimbursed promptly;
(v)Executive shall be entitled to such holiday and personal days as may, from time to time, be made available generally to any other executives of the Company; 

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(vi)Following each year of employment during the Term, the Company shall reimburse Executive, up to a maximum of three thousand dollars ($3,000.00) per annum, for the annual premium paid by the Executive for a term life insurance policy that will pay a benefit on the death of Executive to one or more beneficiaries designated by the Executive from time to time; and
(vii)Executive shall be entitled to such other benefits as may, from time to time, be made generally available to similarly situated executive officers of the Company, excluding any individually negotiated benefits in place prior to the date of this Agreement, including, without limitation, any tax gross-ups.
(c)Annual Incentive Bonus. Executive shall be eligible to receive an incentive bonus for each complete or partial fiscal year of the Company that ends during the Term (the “Incentive Bonus”), subject to the terms of this Agreement and achievement of the applicable performance goals. With respect to each fiscal year during the Term, Executive’s target Incentive Bonus shall be fifty percent (50%) of his Base Salary for such year, it being understood that Executive may earn a greater or lesser amount based on the level of achievement of the applicable performance goals.  The Incentive Bonus shall be pro-rated for any partial fiscal year.  The Compensation Committee of the Board (the “Compensation Committee”) shall establish the applicable performance goals required to be met by Executive in connection therewith no later than March 15th of such fiscal year.  Executive’s actual Incentive Bonus amount for a particular year shall be determined by the Compensation Committee based on Executive’s achievement of such performance goals.  Except as provided in Section 3(e) and 8, Executive shall not be entitled to receive an Incentive Bonus payment for any fiscal year unless Executive is employed by the Company (or any subsidiary of the Company) on the last day of such fiscal year. 
(d)Long-Term Incentive Awards.  Commencing with the Company’s 2022 fiscal year, Executive shall receive annual long-term incentive awards under the ANI Pharmaceuticals, Inc. Sixth Amended and Restated 2008 Stock Incentive Plan (the “ANI Stock Plan”) or any successor plan, in such forms and in such amounts as determined in the sole discretion of the Compensation Committee.  
(e)No Other Compensation or Benefits; Payment.  The compensation and benefits specified in this Section 2 shall be in lieu of any and all other compensation and benefits, provided, however, that nothing in this Agreement shall prevent the Board from increasing the Base Salary or awarding additional incentive compensation to Executive in its sole and absolute discretion.  Payment of all compensation and benefits to Executive hereunder shall be made in accordance with the relevant Company policies in effect from time to time, including normal payroll practices, and shall be subject to all applicable employment and withholding taxes.
(f)Cessation of Employment.  In the event Executive shall cease to be employed by the Company for any reason, then Executive’s compensation and benefits shall cease on the date of such cessation of employment, except as otherwise provided herein or in any applicable Company employee benefit plan or program.
(g)Taxes.  Executive shall make payment of all required taxes, whether 

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Federal, state, provincial or local in nature, including but not limited to income taxes, Social Security taxes, Federal Unemployment Compensation taxes that are required to be paid by him pursuant to any applicable law.  The Company shall have the right to withhold from the sums payable to Executive hereunder such amounts, if any, as may be required by the Internal Revenue Code of 1986, as amended (the “Code”) or any other like statute which is, or may become, applicable to the provisions hereof.
3.Term; Termination; Rights on Termination.  The term of this Agreement shall begin on the Commencement Date and continue until terminated in accordance with the provisions of this Agreement (the “Term”). This Agreement and Executive’s employment may be terminated in any one of the following ways:
(a)Death.  The death of Executive shall immediately terminate this Agreement.
(b)Disability.  If, as a result of Executive’s incapacity due to physical or mental illness, Executive shall not have performed his material duties hereunder on a full-time basis for either (a) one hundred and twenty (120) consecutive days or (b) one hundred and eighty (180) days in any consecutive twelve (12) months (“Disability”), Executive’s employment under this Agreement may be terminated by the Company upon thirty (30) days’ written notice if Executive is unable to resume performing his material duties at the conclusion of such notice period.  Executive’s compensation during any period of Disability prior to the Termination Date shall be the amounts normally payable to him in accordance with his then current annual Base Salary.  
(c)Termination.
(i)For Good Cause.  The Company may terminate this Agreement immediately (subject to any applicable notice and cure period set forth below) upon written notice (the “Termination Notice”) to Executive for “Good Cause”, which shall be defined as Executive’s: (A) conviction of or plea of nolo contendere to a felony or any other crime involving fraud or dishonesty; (B) breach of any material term of this Agreement or any other agreement between the Parties which is not cured within twenty (20) days of written notice to Executive or which constitutes a second instance of the same breach within a single calendar year; (C) intentional or willful breach of any material published corporate policy of the Company that is generally applicable to executives of such entity, which remains uncured after twenty (20) days’ written notice thereof to Executive or which constitutes a second violation of such policy within a single calendar year; (D) gross negligence or willful misconduct in performing his duties hereunder, or the willful failure to follow lawful directives of the Board or his Supervisor (unless due to death or Disability), which is not cured within twenty (20) days of written notice to Executive or which constitutes a second instance of any breach within a single calendar year; (E) acts or omissions or course of conduct that constitute fraud or embezzlement, (F) acts or omissions or course of conduct that constitute dishonesty, misrepresentation, or other misappropriation or deliberate injury or attempted injury by Executive having a material adverse effect on the reputation, business or assets of the Company and its subsidiaries taken as a whole, which is not cured within twenty (20) days of written notice to the Executive or which constitutes a second instance of any such breach within a single 

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calendar year; or (G) if Executive is debarred pursuant to Section 306 of the United States Federal Food, Drug and Cosmetics Act (21 U.S.C §§301 et seq.) or 42 U.S.C. §1320a-7.  In the event of a termination for Good Cause, Executive shall have no right to any severance compensation.  The Company shall set forth in the Termination Notice a detailed description of the grounds for which Executive is being terminated for Good Cause, and Executive shall have the right to cure such matters to the extent provided above.  In the event Executive does cure such matters in accordance with and to the extent permitted by the foregoing provisions, then the Company shall not be entitled to terminate Executive for Good Cause with respect to such cured matters, except as provided in clauses (B), (C), (D) and (F).
(ii)Without Good Cause.  In addition to the provisions of Section 3(c)(i), the Company may, at any time, terminate this Agreement upon thirty (30) days’ written notice to Executive, if such termination is approved by the Board (any such termination other than for Good Cause being a termination “Without Good Cause”).  In the event of such a termination, Executive shall have the right to receive severance compensation as set forth below in Sections 3(e) or 8, as applicable.  
(iii)Termination by Executive for Good Reason.  The Executive shall be entitled to resign or otherwise terminate his employment for Good Reason. In the event of such a termination, Executive shall have the right to receive severance compensation as set forth below in Sections 3(e) or 8, as applicable. For purposes hereof, “Good Reason” shall mean the occurrence of any of the following that is not cured within thirty (30) days of Executive’s written notice that the occurrence constitutes Good Reason: (A) a material reduction of Executive’s position, title, duties, or responsibilities with the Company; (B) a material reduction of Executive’s Base Salary or Incentive Bonus; (C) a change in the reporting structure as set forth in Section 1(b); (D) a material breach by the Company of this Agreement; or (E) the Company requiring Executive to move or relocate the Executive’s primary place of employment from his then existing home office or other place of employment by more than thirty-five (35) miles; provided that (1) any notice of Good Reason must be given by Executive to the Company within sixty (60) days of the date Executive becomes aware of the occurrence set forth in clauses (A) – (E) above and (2) any resignation by Executive while the Company has “Good Cause” for termination of Executive and as to which it has previously given written notice to Executive of the basis of such Good Cause prior to the resignation, shall not be considered to be a resignation without Good Reason. The Executive shall not have the right to terminate his employment for Good Reason unless the Executive actually terminates employment within ninety (90) days following delivery of the Executive’s written notice of Good Reason.  
(iv)Termination by Executive Without Good Reason.  Executive may resign without Good Reason on thirty (30) days’ prior written notice to the Company. If Executive so resigns or otherwise terminates his employment for any reason, he shall have no right to any severance compensation.
(d)Payment Through Termination.  Upon termination of this Agreement for any reason provided above, Executive shall be entitled to receive (i) all compensation earned as of 

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the Termination Date, (ii)  all benefits and reimbursements due through the Termination Date, (iii) vested benefits accrued through the Termination Date under the Company’s benefits plans which shall be payable in accordance with the terms of such plans, and (iv) unless Executive’s employment is terminated by the Company for Good Cause, the full Incentive Bonus otherwise earned and payable to Executive for the fiscal year ending immediately prior to his Termination Date, based on actual performance and to be paid when Incentive Bonus payments for the applicable fiscal year are paid to other executives.  Additional compensation subsequent to termination, if any, shall be due and payable to Executive only to the extent and in the manner expressly provided herein.  All other rights and obligations under this Agreement shall cease as of the Termination Date, except that Executive’s obligations under Sections 4, 5, 6, 7, 9 and 19 and Executive’s rights under Section 11 shall survive such termination in accordance with their terms.
(e)Severance Payments Due Upon Termination by Company Without Good Cause or by Executive for Good Reason. Except in the event of a termination of employment in connection with a Change in Control as provided in Section 8 below in which case the provisions thereof shall apply and Executive shall not be entitled to receive payments under this clause (e):
(i)Separate and distinct from any rights Executive has under the Merger Agreement, if (x) Executive’s employment is terminated by the Company Without Good Cause or by Executive with Good Reason, (y) Executive executes a general release of all claims and rights that Executive may have against the Company and its related entities and their respective stockholders, members, officers, directors, managers and employees relating to Executive’s employment and/or termination (other than claims and rights for compensation and benefits provided for hereunder) in the form attached hereto as Exhibit A (the “Release”) during the period commencing on Executive’s termination of employment and ending sixty (60) days after Executive’s termination of employment or on such earlier date as specified by the Company in such Release (the “Release Period”) and does not revoke such Release before it becomes effective, binding and irrevocable, and (z) Executive complies with the surviving obligations contained in Sections 4, 5, 6, 7 and 9, then:
(A) the Company shall continue to pay Executive his then current Base Salary, payable in regular installments in accordance with the Company’s standard payroll procedures but no less frequently than bi-monthly procedures for a period equal to twelve (12) months following the Termination Date (the “Severance Period”); 
(B) if Executive elects to receive continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), pay Executive on a monthly basis for the Severance Period, an amount equal to a percentage (based on the portion of the monthly premium costs covered by the Company for Executive's group health, dental and/or vision coverage in effect as of the Termination Date), of Executive’s monthly COBRA premium payment (if any) under the Company’s group health, dental and vision plans; provided, however, that the obligations of the Company under this clause (B) shall cease upon Executive becoming eligible to participate in a plan of another employer providing 

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substantially similar group health benefits to Executive and his eligible family members and dependents or upon termination of Executive’s COBRA coverage;
(C) if such termination occurs after June 30th in any calendar year, pay Executive a pro-rated Incentive Bonus for the fiscal year during which Executive’s employment is terminated (prorated based on the days elapsed in such fiscal year through the Termination Date);
(D) a lump sum cash payment equal to the Executive’s annual maximum Incentive Bonus Amount, payable on the first payroll date following the first anniversary of the Termination Date (all of the payments in clauses (A) - (D) together, the “Severance Payments”); and
(E) all of the Executive’s options to purchase the common stock of the Company and any awards of restricted common stock received by Executive in each case that were subject to vesting shall vest with respect to that number of shares subject thereto that would have vested during the Severance Period had Executive remained employed by the Company during such period, and such vested options (after taking into account the vesting acceleration) shall remain exercisable through the eighteen (18) month anniversary of the Termination Date (but in no event beyond the original term of the equity award), it being understood that to the extent any options that are intended to be “incentive stock options” for purposes of Section 422 of the Internal Revenue Code are exercised after the three month anniversary of the Termination Date, such options will cease to be treated as “incentive stock options” for purposes of Section 422 of the Internal Revenue Code. 
(ii)All Severance Payments shall be suspended until the date that the Release becomes effective and irrevocable; provided, however, that if the Release Period begins in one calendar year and ends in the subsequent calendar year, the Severance Payments will be suspended until the later of (A) January 1 of such subsequent calendar year and (B) the date the Release becomes effective and irrevocable.  All Severance Payments that but for the preceding sentence are due and payable on the date the suspension of Severance Payments ends will be paid to Executive on the first regularly scheduled payroll payment date following the date the suspension of Severance Payments ends.
(iii)It is acknowledged and agreed that Executive shall not be required to mitigate the amount of any payment provided for in this Section 3(e) by seeking other employment or otherwise and Severance Payments will not be offset for any reason.
(f)Resignation.  Regardless of the reason for the Termination of Employment (as defined below), Executive shall, effective as of Termination Date (as defined below), be deemed to have resigned from the Board and any positions as an officer of the Company and shall complete any paperwork requested by the Company to document such resignation(s).

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4.Restrictive Covenants
(a)During the Applicable Restricted Period (as defined below), Executive will not, and will cause Executive’s affiliates not to, directly or indirectly, engage or participate in, or render services to (whether as owner, operator, member, stockholder, manager, consultant, strategic partner, employee or otherwise) any company, business, product or service engaged in the development, manufacturing, marketing, distribution, sale or license, in each case, in the United States, of (i) any product included in the Novitium Portfolio (as defined in the Merger Agreement), (ii) any 505(b)(2) Product (as defined in the Merger Agreement) or (iii) any Parent Product (as defined in the Merger Agreement) (“Competing Business”).  For the purposes of the foregoing, Executive will not be in breach of this Section 4(a) solely by reason of (i) Executive’s ownership, together with that of Executive’s affiliates, of five (5%) percent or less of a Competing Business’ voting capital stock if (A) such Competing Business is publicly-traded and (B) Executive and Executive’s affiliates do not control the operation or management of such Competing Business or (ii) engaging in any activity consented to in advance in writing by the Company.
(b)Without limitations of Executive’s obligations under Section 6 of this Agreement, Executive agrees that at all times, both during and after the Term, Executive will not, and will cause Executive’s affiliates not to, directly or indirectly, utilize any Confidential Information (as defined below) to develop, manufacture, market, distribute, sell or license, in each case, (i) any product included in the Novitium Portfolio, (ii) any 505(b)(2) Product or (iii) any Parent Product, other than as is required by Executive to perform his duties under this Agreement for the benefit of the Company.
(c)During the Applicable Restricted Period, Executive will not, and will cause Executive’s affiliates not to, directly or indirectly, solicit for employment, recruit, engage or hire, either as an employee or a consultant, any employee, consultant or independent contractor of the Company or any of its subsidiaries; provided that the foregoing restrictions shall not restrict (i) placing general advertisements or listings for employment openings not specifically targeted at such employees, consultants or independent contractors of the Company or its Subsidiaries (“General Advertisement”) or (ii) hiring or offering to hire any person as a result of such General Advertisement.
(d)During the Applicable Restricted Period, Executive will not, and will cause Executive’s affiliates not to, directly or indirectly:
(i)interfere or attempt to interfere, in any material respect, with any transaction, agreement, prospective agreement, business opportunity or business relationship in which the Company or its subsidiaries is involved at any time during the Applicable Restricted Period; or
(ii)otherwise engage or participate in any effort or act to induce any person to discontinue a relationship with the Company or its subsidiaries; provided, however that notwithstanding the foregoing, nothing in this Section 4(d) shall prohibit Executive (x) from placing General Advertisements, (y) hiring or offering to hire 

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any individual as a result of such General Advertisement or (z) hiring or offering to hire any individual who was terminated by the Company and its subsidiaries no less than 180 days prior to such hiring.
(e)For so long as he holds any equity securities of the Company or is a director, officer or employee of the Company or any of its subsidiaries, Executive will not, and will cause Executive’s affiliates not to, make or cause to be made any statement, comment or other communication, written or otherwise, that would reasonably be expected to constitute disparagement or criticism of, the Company or any of its subsidiaries or any of the products or services of the Company or any of its subsidiaries.  Notwithstanding the foregoing, nothing in this Section 4(e) shall preclude Executive or Executive’s affiliates  from (a) making truthful and accurate statements or disclosures that are required or permitted by applicable law or legal process, including, but not limited to, responding truthfully to any false or misleading comments made about Executive or Executive’s affiliates; (b) disclosing information about unlawful acts in the workplace, including, but not limited to, sexual harassment; (c) exercising Executive’s rights under the National Labor Relations Act, including but not limited to the right to make good faith reports to government agencies about suspected violations of the law, or (d) providing feedback or performance reviews requested by the Company or its subsidiaries in connection with Executive’s employment with the Company.
(f)Covenants Separate. The covenants in this Section 4 are severable and separate, and the unenforceability of any specific covenant shall not affect the provisions of any other covenant.  The covenants in this Section 4 are in addition to the restrictive covenants applicable to the Executive in the Merger Agreement, which shall remain enforceable in accordance with their terms.
(g)Independent. All of the covenants in this Section 4 shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of Executive against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement of such covenants. The existence of any claim or cause of action by the Executive against the Company or any of its affiliates, whether predicated on this Agreement or otherwise, will not constitute a defense to the enforcement by the Company of the provisions of Section 4, which will be enforceable notwithstanding the existence of any breach by the Company.  Notwithstanding the foregoing, Executive will not be prohibited from pursuing such claims or causes of action against the Company.  Executive consents to the Company notifying any future employer of Executive’s obligations under Section 4 of this Agreement.
(h)Prohibitions. Notwithstanding any of the foregoing, if any applicable law shall reduce the time period during which or the geographic scope in which Executive shall be prohibited from engaging in any competitive activity described in this Section 4, the period of time for which Executive shall be prohibited pursuant to this Section 4 shall be the maximum time permitted by law. 
(i)Definitions. For purposes of this Agreement, the following terms have the following meanings:

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(i)“Applicable Restricted Period” means the period ending on the later of (i) the five (5) year anniversary of the Closing Date (as defined in the Merger Agreement) or (ii) the period ending on the second anniversary of the Termination Date.
(ii)“Person” means any individual, corporation, partnership, joint venture, trust, unincorporated organization, limited liability company,  group, association or other person, as such term is used in Section 13(d) or Section 14(d) of the Securities Exchange Act of 1934, as amended, other than the Company and its affiliates.
(iii)“Termination Date” means the effective date of the Termination of Employment.
(iv)“Termination of Employment” means the (i) termination of Executive’s employment relationship with the Company and all of its affiliates or (ii) change in Executive’s employment relationship with the Company considered a “separation from service” under Section 409A of the Code.
5.Inventions.  Executive hereby assigns and agrees to assign all his interests in Inventions (as defined below) and tangible embodiments thereof and all intellectual property and proprietary rights therein to the Company or its nominee.  The term “Inventions” means any and all ideas inventions, improvements, technology, know-how and discoveries, whether patentable or not and whether a Trade Secret (defined below) or not, and any and all works of authorship (as defined in Section 102 of the U.S. Copyright Act), trademarks, trade names, slogans, logos, processes patents and other intellectual property, which are conceived or made by Executive, solely or jointly with another person or persons, during the Term and which Executive makes or conceives as a result of or in connection with his employment by the Company or with the use of any of the Company’s personnel, equipment, resources or other assets.  Executive agrees that all Inventions shall be deemed works made-for-hire for the Company within the meaning of the copyright laws of the United States or any similar or analogous law or statute of any other jurisdiction, and accordingly, the Company shall be the sole and exclusive author and owner of all copyrights and copyright rights in the Inventions for all purposes and in any and all media and means now known or which may hereafter be devised, throughout the universe in perpetuity.  Should any arbitrator or court of competent jurisdiction ever hold that the Inventions do not constitute works made-for-hire, Executive hereby irrevocably assigns to the Company, and agrees that the Company shall be the sole and exclusive owner of, all right, title and interest in and to all copyrights and copyright rights in the Inventions.  Executive reserves no rights with respect to any Inventions.  Executive agrees that in furtherance of the foregoing, he shall deliver to the Company all tangible embodiments of the Inventions in his possession, custody or control and execute and deliver to the Company all such documents, including, without limitation, patent and copyright applications and assignments, as the Company reasonably shall deem necessary to further document the Company’s ownership rights in the Inventions or tangible embodiments thereof and to provide the Company the full and complete benefit thereof. Without limiting the foregoing, Executive further agrees to cooperate with and assist the Company, at the Company’s expense, with all lawful efforts of the Company to protect, register, obtain, establish, acquire, prosecute, 

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maintain, perfect, enforce and/or defend the Company’s rights in or to the Inventions, including, without limitation, executing and delivering to the Company any and all instruments or documents and/or providing testimony requested by the Company for any such purpose.  Executive acknowledges and agrees that Executive is not entitled to any additional compensation for any of his obligations under this Section 5, except for the reimbursement of reasonable and necessary expenses incurred by Executive in performing his obligations hereunder. 
6.Confidential Information and Trade Secrets. Executive acknowledges and agrees that all Confidential Information (defined below), and Trade Secrets (defined below) obtained, conceived or compiled by (solely or jointly with another person or persons) or disclosed to Executive shall be and remain, as between Executive and the Company, the exclusive property of the Company and shall be subject at all times to the Company’s discretion and control.  Executive agrees that the Confidential Information constitutes a protectable business interest of the Company and its affiliates and covenants and agrees that at all times during the Term and at all times following the Termination of Employment, Executive will not, directly or indirectly, disclose any Confidential Information to any third party or use, any such Confidential Information or Trade Secrets, except only (i) as is required by Executive to perform his duties under this Agreement for the benefit of the Company and then only after taking reasonable precautions, including, obtaining the written agreement of any third party to whom such disclosure is made, to ensure that the confidentiality of Confidential Information and Trade Secrets is strictly maintained, (ii) in order to enforce or defend his rights under this Agreement or other written agreement between Executive and the Company (or its affiliates), or (iii) as required by law. 
For purposes hereof, “Confidential Information” means and means any and all confidential, proprietary or Trade Secret information of the Company or its controlled affiliates not within the public domain, whether disclosed, directly or indirectly, verbally, in writing (including electronically) or by any other means in tangible or intangible form, including that which is conceived or developed by Executive, applicable to or in any way related to: (i) the present or future business activities, products and services, and customers of the Company or its controlled affiliates; (ii) the research and development of the Company or its controlled affiliates; or (iii) the business of any customers or suppliers of the Company or its controlled affiliates.  Such Confidential Information includes the following property or information of the Company or its controlled affiliates, by way of example and without limitation, trade secrets, processes, formulas, data, program documentation, customer lists, pricing information, designs, drawings, algorithms, source code, object code, technology, formulae, models, know-how, improvements, pharmaceutical drug and/or devise technologies, inventions, licenses, techniques, all plans or strategies for marketing, development and pricing, government filings and/or reports, inventions, research, development, schematics, designs, test methods and samples, documents, agreements, business plans, financial statements, profit margins and all information concerning existing or potential clients, suppliers or vendors.  Confidential Information of the Company also means all similar information disclosed to the Company by third parties that is subject to confidentiality obligations.  
The Company shall not be required to advise Executive specifically of the confidential nature of any such information, nor shall the Company be required to affix a designation of confidentiality to any tangible item, in order to establish and maintain its confidential nature.  Notwithstanding 

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the preceding to the contrary, Confidential Information shall not include general industry information or information that is publicly available or readily discernable from publicly available products or literature; information that the Executive lawfully acquires from a source other than the Company or its controlled affiliates or any customer or supplier of the Company or any of its controlled affiliates (provided that such source is not bound by a confidentiality agreement with the Company or any of its controlled affiliates); information that is required to be disclosed pursuant to any law, regulation, rule of any governmental body or authority, or stock exchange, or court order; or information that reflects Executive’s own skills, knowledge, know-how and experience gained prior to employment or service and outside of any connection to or relationship with the Company or any of its controlled affiliates, or the predecessors of any such entities. 
For purposes hereof, the term “Trade Secret” shall have the meaning given in the Delaware enactment of the Uniform Trade Secrets Act, and shall include, without limitation, the whole or any portion or phase of any scientific or technical information, design, process, formula, concept, data organization, manual, other system documentation, or any improvement of any thereof, in any case that is valuable and secret (in the sense that it is not generally known to the Company’s competitors).
Notwithstanding the foregoing, the U.S. Defend Trade Secrets Act of 2016 (“DTSA”) provides that an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (iii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  In addition, DTSA provides that an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.
7.Return of Corporation Property; Termination of Employment.  At such time as Executive’s employment with the Company is terminated for any reason, he shall be required to participate in an exit interview for the purpose of assuring a proper termination of his employment and his obligations hereunder.  On or before the actual date of Executive’s termination of employment with the Company, Executive shall return to the Company all records, materials and other physical objects relating to his employment with the Company, including, without limitation, all Company credit cards, computers, personal digital assistants and access keys and all materials and things embodying, relating to, containing or derived from any Inventions, Trade Secrets or Confidential Information.
8.Change in Control. 
(a)If, and only if, the Change in Control Conditions have been met, then, subject to Executive’s continued compliance with the terms and conditions of this Agreement, including under Sections 4, 5, 6, 7 and 9 which will continue, Executive will become entitled to the following as severance benefits (“CIC Benefits”) (CIC Benefits will not be considered compensation or earnings under any pension, savings or other retirement plan of the Company 

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unless so provided under the terms of the applicable plan): 
(i)The Company shall continue to pay Executive his then current Base Salary during the CIC Severance Period, which amounts will be  payable in regular installments in accordance with the Company’s standard payroll procedures but no less frequently than bi-monthly procedures for the CIC Severance Period;
(ii)Not later than the last to occur of: (A) the Termination Date and (B) ten (10) days following the consummation of a Change in Control (either such date, a “Bonus Payment Date”), the Company shall pay to Executive a lump sum cash payment equal to the Applicable Percentage of the Executive’s maximum target Incentive Bonus established for the calendar year in which the Termination of Employment occurs (100% of such maximum target bonus, the “Bonus Amount”).  In addition, the Company shall also pay to Executive a lump sum cash payment equal to the Bonus Amount on each of the first two (2) anniversaries of the Bonus Payment Date.  As used herein, the term “Applicable Percentage” shall mean the following (expressed as a percentage): (x) the number of days elapsed between January 1 of the year in which the Termination Date occurs and such Termination Date, divided by (y) 365.
(iii)If Executive elects to receive continuation coverage under COBRA, the Company shall pay to Executive on a monthly basis during the CIC Severance Period, an amount equal to a percentage (based on the portion of the monthly premium costs covered by the Company for Executive’s group health, dental and/or vision coverage under the Company’s group health, dental and vision plans in effect as of the date on which the Termination of Employment occurs), of Executive’s monthly COBRA premium payment (if any) under the Company’s group health, dental and vision plan; provided, however, that the obligations of the Company under this clause (iii) shall cease upon Executive becoming eligible to participate in a plan of another employer providing substantially similar group health benefits to Executive and his eligible family members and dependents or upon termination of Executive’s COBRA coverage.
(iv)All of the Executive’s options to purchase the common stock of the Company and any awards of restricted common stock received by Executive in each case that were subject to vesting, shall vest in their entirety, and such vested options (after taking into account the vesting acceleration) shall remain exercisable through the expiration date of such options, it being understood that to the extent any options that are intended to be “incentive stock options” for purposes of Section 422 of the Internal Revenue Code are exercised after the three month anniversary of the Termination Date, such options will cease to be treated as “incentive stock options” for purposes of Section 422 of the Internal Revenue Code.
(v)The Company shall pay up to ten thousand ($10,000) for out-placement counseling and assistance provided by a reputable out-placement firm selected by the Company; provided that such payment will only be available if such service is engaged no later than ninety (90) days after the date on which Executive’s employment by the Company terminates.

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(b)If it is determined (by the reasonable computation of the Company’s financial or tax advisors), that any compensation received (or deemed to be received) by Executive from the Company pursuant to this Section 8 (collectively, the “Potential Parachute Payments”) is or will become subject to any excise tax under Section 4999 of the Code or any similar tax payable under any United States federal, state, local or other law (such excise tax and all such similar taxes collectively, “Excise Taxes”), then such Potential Parachute Payments shall be equal to the Reduced Amount.  The “Reduced Amount” shall be either (x) the largest portion of the Potential Parachute Payments that would result in no portion of the Potential Parachute Payments being subject to the Excise Tax; or (y) the largest portion, up to and including the total, of the Potential Parachute Payments, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in Executive’s receipt, on an after-tax basis, of the greater amount of the Potential Parachute Payments.  Any reduction made pursuant to this Section 8 shall be made in accordance with the following order of priority: (i) stock options whose exercise price exceeds the fair market value of the optioned stock (“Underwater Options”) (ii) Full Credit Payments (as defined below) that are payable in cash, (iii) non-cash Full Credit Payments that are taxable, (iv) non-cash Full Credit Payments that are not taxable (v) Partial Credit Payments (as defined below) and (vi) non-cash employee welfare benefits.  In each case, reductions shall be made in reverse chronological order such that the payment or benefit owed on the latest date following the occurrence of the event triggering the excise tax will be the first payment or benefit to be reduced (with reductions made pro-rata in the event payments or benefits are owed at the same time).  “Full Credit Payment” means a payment, distribution or benefit, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, that if reduced in value by one dollar reduces the amount of the parachute payment (as defined in Section 280G of the Code) by one dollar, determined as if such payment, distribution or benefit had been paid or distributed on the date of the event triggering the excise tax.  “Partial Credit Payment” means any payment, distribution or benefit that is not a Full Credit Payment.
(c)It is acknowledged and agreed that Executive shall not be required to mitigate the amount of any payment provided for in this Section 8 by seeking other employment or otherwise. It is further acknowledged that the CIC Benefits payable under this Section 8 shall only be applicable to the first Change in Control to occur after the date hereof and not in the event of any subsequent Change in Control. In addition, the benefits provided for under Sections 3(e) and 8 are mutually exclusive; in the event Executive receives CIC Benefits, then he shall not be eligible to receive Severance Payments under Section 3(e) and the CIC Benefits shall be the only payments received following the termination of his employment with the Company. Any Severance Payments already received by Executive if the Termination Date has occurred prior to a Change in Control, shall be deemed to have been CIC Benefits upon consummation of a Change in Control for purposes of this Section 8.
(d)In order for Executive to be eligible to receive and to continue to receive the CIC Benefits as set forth in this Section 8: (i) upon Termination of Employment, the Executive must execute a Release during the Release Period described in Section 3(e) and must not revoke such release before it becomes effective and irrevocable and (b) the Executive must abide by each of the other terms and conditions of this Agreement including under Sections 4, 5, 6, 7 and 9.  Notwithstanding any provision in this Section 8, any CIC Benefits payable to Executive before the 

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expiration of the Release Period, shall be suspended; provided, however, that if the Release Period begins in one calendar year and ends in the subsequent calendar year, any CIC Benefits will be suspended until the later of (A) January 1 of such subsequent calendar year and (B) the date the Release becomes effective and irrevocable.  All CIC Benefits that but for the preceding sentence are due and payable on the date the suspension of CIC Benefits ends will be paid to Executive on the first regularly scheduled payroll payment date following the date the suspension of CIC Benefits ends.
(e)For purposes of this Section 8, the following terms will have the following meanings:
(i)“Change in Control” means the consummation of the first to occur of any transaction in which:
(A) one Person (or more than one Person acting as a group) acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person or group) assets of the Company (including its subsidiaries) that have a total gross fair market value equal to more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately before such acquisition or acquisitions, or
(B) one Person, or more than one Person acting as a group, acquires ownership of equity securities of the Company (including by way of merger, consolidation or otherwise) that, together with all equity securities of the Company previously held by such Person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of equity securities of the Company.
Notwithstanding the foregoing, a Change in Control shall not include (1) any transaction effected for reincorporation purposes or (2) any transaction that does not constitute a change of ownership of the Company or a substantial portion of its assets within the meaning of Treasury Regulation Section 1.409A-3(i)(5)(v) or (vii).
(ii)“Change in Control Conditions” means that all of the following have occurred:
(A)(1) a Termination of Employment by the Company has occurred for any reason other than for Good Cause or (2) a Termination of Employment by Executive for Good Reason has occurred; and 
(B)A Change in Control has been consummated; and 
(C)the Termination of Employment, has occurred either: (1) within the period beginning on the date of the consummation of the Change in Control and ending on the last day of the twenty-fourth (24th) month 

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following the consummation of a Change in Control; or (2) prior to a Change in Control, if such Termination of Employment was either a condition of the Change in Control or was at the documented request or insistence of a Person which is a party or an Affiliate of a party to the transaction that constitutes or results in to the Change in Control.
(iii)“CIC Severance Period” means a period of twenty-four (24) months following the Termination Date.
9.Remedies. Because of the difficulty of measuring economic losses to the Company as a result of a breach of any of the covenants contained in Sections 4, 5, 6 or 7 because of the immediate and irreparable damage that such a breach is likely to cause the Company for which it would have no other adequate remedy, Executive agrees that each of the covenants of Sections 4, 5, 6 or 7 may be enforced by the Company, by permanent, preliminary and temporary injunctions and restraining orders, in addition to any other remedies allowable at law or in equity.  In addition, in the event of a breach or violation by Executive of Sections 4, 5, 6 or 7 then, solely for purposes of this Section 9, the Severance Period or CIC Severance Period, as applicable, will be tolled until such breach or violation has been duly cured. 
10.No Prior Agreements.  Executive hereby represents and warrants to the Company that the execution of this Agreement by Executive and his employment by the Company and the performance of his duties hereunder will not violate or be a breach of any agreement with a former employer, client or any other person or entity. 
11.D&O Insurance and Indemnification. During the term of this Agreement and through the sixth (6th) anniversary of the termination of Executive’s employment, the Company shall maintain coverage for the Executive as a named insured on all directors’ and officers’ insurance maintained by the Company for the benefit of its directors and officers on at least the same basis as all other covered individuals.  On the Commencement Date, the Company and Executive will enter into an indemnification agreement substantially in the form attached as Exhibit B.
12.Pre-Employment Conditions.  For purposes of federal immigration law, Executive will be required, if Executive has not already, to provide to the Company documentary evidence of Executive’s identity and eligibility for employment in the United States.  Such documentation must be provided to the Company within three (3) business days of the Commencement Date, or the Company’s employment relationship with Executive may be terminated.
13.Section 409A. 
(a)The Parties agree to treat any Severance Payments or CIC Benefits made to Executive pursuant to this Agreement as compensatory payments and to make such Severance Payments or CIC Benefits through the Company’s payroll. The Company will deduct and withhold from any such Severance Payments or CIC Benefits all applicable local, state, federal or other withholding and payroll taxes required to be deducted and withheld when making Severance Payments or CIC Benefits.

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(b)The portion, if any, of the Severance Benefits or CIC Benefits paid or provided to Executive pursuant to this Agreement that constitutes deferred compensation for purposes of Section 409A of the Code shall be referred herein as the “Deferred Compensation Separation Benefits.”  Notwithstanding any provision in this Agreement to the contrary:
(i)If Executive’s Termination of Employment occurs on or after October 15th of any calendar year, any Deferred Compensation Separation Payments that would otherwise be payable to the Executive pursuant to this Agreement during the calendar year in which such Termination of Employment occurs shall be suspended until the first payroll payment date following the later of the first day of the following calendar year or the date the general release described in Section 4 of this Agreement becomes effective, binding and irrevocable.
(ii)If Executive is a “specified employee” (as defined in 26 C.F.R Section 1.409A-1(i)) at the time of his Termination of Employment, any such Deferred Compensation Separation Payments that are otherwise payable to Executive pursuant to this Agreement during the period commencing on Executive’s Termination of Employment and ending on the earlier of the (x) the last day of the sixth calendar month beginning after Executive’s Termination of Employment or (y) the date of Executive’s death (the “Section 409A Specified Employee Suspension Period”) will be suspended until the first payroll payment date that occurs on or after the end of the Section 409A Specified Employee Suspension Period.
(c)For purposes of determining the portion, if any, of the Severance Benefits or CIC Benefits that constitute Deferred Compensation Separation Benefits, the portion of any Severance Benefits or CIC Benefits paid or provided under this Agreement that satisfies the requirements of the “short-term deferral” rule set forth in 26 C.F.R. Section 1.409A-1(b)(4) or the “separation pay” exception set forth in 26 C.F.R Section 1.409A-1(b)(9)(iii) or (v) shall not constitute Deferred Compensation Separation Benefits for purposes of this Section 13, and consequently shall be paid to Executive in accordance with Sections 3(e) and 8 of this Agreement, as applicable without regard to Section 13(b).  Each payment in any series of payments payable under this Agreement is intended to constitute a separate payment for purposes of 26 C.F.R. Section 1.409A-2(b)(2).
(d)To the extent any reimbursement of costs and expenses (including reimbursement of COBRA premiums pursuant to Section 3(e) and 8 provided for under this Agreement constitutes taxable income to Executive for federal income tax purposes, such reimbursements shall be made as soon as practicable after Executive provides proper documentation supporting reimbursement but in no event later than December 31 of the calendar year next following the calendar year in which the expenses to be reimbursed are incurred.  With regard to any provision herein that provides for reimbursement of expenses or in-kind benefits, except as permitted by Code Section 409A, (i) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit, and (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year.

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(e)The foregoing provisions are intended to comply with the requirements of Section 409A of the Code so that none of the Severance Benefits or CIC Benefits paid or provided hereunder will be subject to the additional tax imposed under Section 409A of the Code, and any ambiguities herein will be construed to so comply.  To the extent necessary to comply with Section 409A Code, references herein to “termination of employment” and terms of similar effect shall be deemed to be references to the Executive’s “separation from service” as defined in Section 409A.  Any ambiguities or ambiguous terms herein will be interpreted to be exempt from or so comply with the requirements of Section 409A. In no event will the Company reimburse Executive for any Section 409A-related taxes resulting from any amount paid under the Agreement or otherwise. The Company and Executive will work together in good faith to consider either (i) amendments to this Agreement; or (ii) revisions to the Agreement with respect to the payment of any benefits to the Executive hereunder, which are necessary or appropriate to avoid imposition of any additional tax or income recognition prior to the actual payment to the Executive under Section 409A. Notwithstanding anything in the Agreement to the contrary, the Company reserves the right, in its sole discretion and without the consent of Executive, to take such reasonable actions and make any amendments to the Agreement as it deems necessary, advisable or desirable to comply with Section 409A or to otherwise avoid income recognition under Section 409A or imposition of any additional tax prior to the actual payment of any benefits under this Agreement.
14.Binding Effect; Assignment.  This Agreement shall be binding upon, inure to the benefit of and be enforceable by the Parties hereto and their respective heirs, legal representatives, successors and permitted assigns.  Executive understands that he has been selected for employment by the Company on the basis of his personal qualifications, experience and skills.  Executive agrees, therefore, that he cannot assign all or any portion of his performance under this Agreement.
15.Entire Agreement.  This Agreement (and the exhibits attached hereto), along with the Merger Agreement and ancillary agreements related thereto, constitute the entire agreement and understanding between the Parties with respect to the subject matter hereof, and supersede all other understandings and negotiations with respect thereto.
16.Notice.  All notices, requests, permissions, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given (a) five business days following sending by registered or certified mail, postage prepaid, (b) when sent, if sent by e-mail during normal business hours and received at the recipient’s location during normal business hours, and otherwise on the next day, (c) when delivered, if delivered personally to the intended recipient and (d) one business day following sending by overnight delivery via a national courier service and, in each case, addressed to a party at the following address for such party:

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To the Company:
ANI Pharmaceuticals, Inc.
210 Main Street West
Baudette, MN 56623
Attn: General Counsel or the Chief Financial Officer
Telephone No.: 218-634-3500
E-Mail: stephen.carey@anipharmaceuticals.com 
To Executive:
Chad Gassert
at the contact information on file with the Company
Either Party may, by notice given in accordance with this Section 16, specify a new address for notices under this Agreement.
17.Severability; Headings.  It is the intention of the Parties that the provisions herein shall be enforceable to the fullest extent permitted under applicable law, and that the unenforceability of any provision or provisions hereof, or any portion thereof, shall not render unenforceable or otherwise impair any other provisions or portions thereof.  Each term, condition, covenant or provision of this Agreement shall be viewed as separate and distinct, and in the event that any such term, covenant or provision shall be held by a court of competent jurisdiction to be invalid, the remaining provisions shall continue in full force and effect.  The Section headings herein are for reference purposes only and are not intended in any way to describe, interpret, define or limit the extent or intent of this Agreement or of any part hereof.
18.No Third-Party Beneficiaries.  Except as otherwise provided in this Agreement, this Agreement is for the sole benefit of the Parties hereto (and their respective heirs, legal representatives, successors and permitted assigns), and nothing herein expressed or implied shall give or be construed to give to any person, other than the Parties hereto (and their respective heirs, legal representatives, successors and permitted assigns), any legal or equitable rights hereunder.
19.Cooperation with Litigation.  During and following the termination of Executive’s employment with the Company (regardless of the reason for Executive’s termination of employment with the Company and which Party initiates the termination of employment with the Company), Executive agrees to cooperate with and make himself readily available to the Company, the Company’s Chief Legal Officer (or equivalent position within the Company) and/or its advisers, as the Company may reasonably request, to assist it in any matter regarding the Company and its subsidiaries and parent companies, including giving truthful testimony in any litigation, potential litigation or any internal investigation or administrative, regulatory, judicial or quasi-judicial proceedings involving the Company over which Executive has knowledge, experience or information.  Executive acknowledges that this could involve, but is not limited to, 

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responding to or defending any regulatory or legal process, providing information in relation to any such process, preparing witness statements and giving evidence in person on behalf of the Company. The Company shall reimburse any reasonable expenses incurred by Executive as a consequence of complying with his obligations under this clause, provided that such expenses are approved in advance by the Company.
20.Dispute Resolution.  Any and all controversies, disputes or claims arising out of, or relating to, this Agreement and its negotiation, execution, performance, non-performance, interpretation, termination, construction or the transactions contemplated hereby shall be heard and determined in the courts of the State of New York sitting in the Borough of Manhattan and the United States District Court for the Southern District of New York.  The Parties hereto hereby irrevocably submit to the exclusive jurisdiction and venue of such courts in any such proceeding and irrevocably and unconditionally waive the defense of an inconvenient forum, or lack of jurisdiction to the maintenance of any such proceeding.  The consents to jurisdiction and venue set forth herein shall not constitute general consents to service of process in the State of New York and shall have no effect for any purpose except as provided in this Section 20 and shall not be deemed to confer rights on any Person other than the Parties hereto.  Each Party hereto agrees that the service of process upon such Party in any proceeding arising out of or relating to this Agreement shall be effective if notice is given by overnight courier at the address set forth in the books and records of the Company.  Each of the Parties also agrees that any judgment against a Party in connection with any proceeding arising out of or relating to this Agreement may be enforced in any court of competent jurisdiction, either within or outside of the United States.  A certified or exemplified copy of such judgment shall be conclusive evidence of the fact and amount of such judgment.
21.Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to the principles of conflicts of law thereof.
22.Counterparts.  This Agreement may be executed in any number of counterparts (which may be delivered by facsimile or in PDF format), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
23.Amendments; Waivers.  No amendment or modification of the terms or conditions of this Agreement shall be valid unless in writing and signed by the Parties.  A waiver by either Party of a breach of any provision of this Agreement shall not constitute a general waiver, or prejudice the other Party’s right otherwise to demand strict compliance with that provision.
24.Certain Acknowledgements.  EXECUTIVE ACKNOWLEDGES THAT, BEFORE SIGNING THIS AGREEMENT, HE WAS GIVEN AN OPPORTUNITY TO READ IT, CAREFULLY EVALUATE IT, AND ASK ANY QUESTIONS HE MAY HAVE HAD REGARDING IT OR ITS PROVISIONS. EXECUTIVE ALSO ACKNOWLEDGES THAT HE HAD THE RIGHT TO HAVE THIS AGREEMENT REVIEWED BY AN ATTORNEY OF HIS CHOOSING AND THAT THE COMPANY GAVE HIS A REASONABLE PERIOD OF TIME TO DO SO IF HE SO WISHED.  EXECUTIVE FURTHER ACKNOWLEDGES THAT HE IS NOT BOUND BY ANY AGREEMENT WHICH WOULD PREVENT HIS FROM 

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PERFORMING HIS DUTIES AS SET FORTH HEREIN, NOR DOES HE KNOW OF ANY OTHER REASON WHY HE WOULD NOT BE ABLE TO PERFORM HIS DUTIES AS SET FORTH HEREIN.
[Signature Page Follows]
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IN WITNESS WHEREOF, the Parties hereto have executed this Executive Employment Agreement as of the day and year first above written.
Company:
ANI PHARMACEUTICALS, INC.
By: /s/ Nikhil Lalwani                                    
Name: Nikhil Lalwani​ ​
Title:  Chief Executive Officer​ ​
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Executive:
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/s/ Chad Gassert                                              
Chad Gassert
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Appendix A:  Outside Business Interests and Engagements
Exhibit A:  General Release of All Claims
Exhibit B:  Indemnification Agreement 
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[SIGNATURE PAGE TO EXECUTIVE EMPLOYMENT AGREEMENT]

100169106_4​

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APPENDIX A
OUTSIDE BUSINESS INTERESTS AND ENGAGEMENTS
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Scitus Pharma Services Pvt. Ltd (10%) - Clinical research organization that conducts BA/BE studies for Novitium Pharma and other generic pharmaceutical companies. The facility is located in Chennai, Tamil Nadu, India 
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EXHIBIT A
GENERAL RELEASE OF ALL CLAIMS
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This General Release of All Claims (the “Release”) between ANI Pharmaceuticals, Inc. (the “Company”) and [Executive] (referred to hereinafter as “you” or the “Executive”) shall be effective as of the Effective Date (as defined below).  Each of the Company and Executive are sometimes referred to herein individually as a “Party” and together as the “Parties.”
1.General Releases and Waivers of Claims.  
(a)General Release.  In consideration for receiving the severance payments and benefits described in Section [3(e)]/[8] of the Employment Agreement, and for other good and valuable consideration, the sufficiency of which you hereby acknowledge, you hereby waive and release to the maximum extent permitted by applicable law any and all claims or causes of action, whether or not now known, against the Company and/or its respective predecessors, successors, past or present and related entities (collectively, including the Company, the “Entities”) and/or the Entities’ respective past or present stockholders, members, officers, directors, insurers, partners, managers, employees and employee benefit plans (collectively with the Entities, the “Released Parties”), with respect to any matter related to your employment with the Company or the termination of that employment relationship other than claims and rights for any accrued compensation and benefits provided for in Section 3(d) of the Employment Agreement and the severance payments and benefits.  This waiver and release includes, without limitation, claims to wages, including overtime or minimum wages, bonuses, incentive compensation, equity compensation, vacation pay or any other compensation or benefits; any claims for failure to provide accurate itemized wage statements, failure to timely pay final pay or failure to provide meal or rest breaks; claims for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment or employment classification, claims under the Employee Retirement Income Security Act (ERISA); claims for attorneys’ fees or costs; any and all claims for stock, stock options or other equity securities of the Company; claims of wrongful discharge, constructive discharge, emotional distress, defamation, invasion of privacy, fraud, breach of contract, and breach of the covenant of good faith and fair dealing; any claims of discrimination, harassment, or retaliation based on sex, age, race, national origin, disability or on any other basis, under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act, or any other federal, state, or local law prohibiting discrimination and/or harassment; and claims under the New York State Human Rights Law, the New York Equal Rights Law, the New York Whistleblower Protection Law, the New York Family Leave Law, the New York Equal Pay Law, the New York City Human Rights Law, the California Fair Employment and Housing Act, claims under the California Labor Code, the California Business and Professions Code, and all other laws and regulations relating to employment, any applicable laws of the State of New Jersey, and all other laws and regulations relating to employment.
You covenant not to sue the Released Parties for any of the claims released above, agree 

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not to participate in any class, collective, representative, or group action that may include any of the claims released above, and will affirmatively opt out of any such class, collective, representative or group action. Further, you agree not to participate in, seek to recover in, or assist in any litigation or investigation by other persons or entities against the Released Parties with respect to matters related to the Company, except as required by law. Your release covers only those claims that arose prior to the execution of this Release.  Execution of this Release does not bar any claim for breach of this Release.  Additionally, nothing in this Release precludes you from participating in any investigation or proceeding before any federal or state agency or governmental body. However, while you may file a charge and participate in any such proceeding, by signing this Release, you waive any right to bring a lawsuit against the Released Parties with respect to matters related to the Company, and waive any right to any individual monetary recovery in any such proceeding or lawsuit; provided, however, nothing in this Release is intended to impede your ability to report securities law violations to the Securities and Exchange Commission under the Dodd-Frank Act, or to receive a monetary award from a government administered whistleblower-award program. Nothing in this Release waives your right to testify or prohibits you from testifying in an administrative, legislative, or judicial proceeding concerning alleged criminal conduct or alleged sexual harassment when you have been required or requested to attend the proceeding pursuant to a court order, subpoena or written request from an administrative agency or the legislature.
Notwithstanding the foregoing, the waiver and release contained in this Release does not apply to (i) any current or future rights or claims for indemnification you may have pursuant to the Indemnification Agreement entered into between you and the Company effective [DATE] (the “Indemnification Agreement”), or your indemnification rights under any insurance policy in place and the Company’s internal governing documents; (ii) any vested benefits under an employee benefit plan sponsored by the Company to which you are legally entitled; (iii) any claims to enforce your rights under this Release or the surviving provisions of the Employment Agreement; (iv) the right to share in any claim with respect to being a stockholder of the Company; provided that any such recover is predicated on you not individually bringing any claim or cause of action or actively participating in, or assisting in any way, with respect to any stockholder initiated cause of action; or (v) any claim which, as a matter of law, cannot be released by private agreement.  If any provision of the waiver and release contained in this Release is found to be unenforceable, it shall not affect the enforceability of the remaining provisions and a court shall enforce all remaining provisions to the full extent permitted by law.
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(b)ADEA Waiver.  You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the Federal Age Discrimination in Employment Act (“ADEA Waiver”) and that the consideration given for the ADEA Waiver is in addition to anything of value to which you are already entitled. You further acknowledge that: (a) your ADEA Waiver does not apply to any claims that may arise after you sign this Release; (b) you should consult with an attorney prior to executing this Release; (c) you have [21/45]1 calendar days within which to consider this Release (although you may choose to execute this Release 

1 NTD:  Review period to be determined as it depends on the circumstances around the termination of employment.

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earlier); (d) you have 7 calendar days following the execution of this Release to revoke your execution of the Release; and (e) the Release will not be effective until the eighth day after you sign this Release provided that you have not revoked it (“Effective Date”).  You agree that any modifications, material or otherwise, made to this Release do not restart or affect in any manner the original [21/45]-day consideration period provided in this section.  To revoke the Release after any execution, you must email [NAME] written notice of revocation at [EMAIL] prior to the end of the 7-day period. You acknowledge that your consent to this Release is knowing and voluntary.  The offer described in this Release will be automatically withdrawn if you do not sign the Release within the [21/45]-day consideration period.
(c)Unknown Claims Waiver.  You understand and acknowledge that you are releasing potentially unknown claims, and that you may have limited knowledge with respect to some of the claims being released.  You acknowledge that there is a risk that, after signing this Release, you may learn information that might have affected your decision to enter into this Release.  You assume this risk and all other risks of any mistake in entering into this Release. You agree that this Release is fairly and knowingly made.  In addition, you expressly waive and release any and all rights and benefits conferred upon you by the provisions of Section 1542 of the Civil Code of the State of California (or any analogous law of any other state), which reads substantially as follows: 
“A general release does not extend to claims THAT the creditor OR RELEASING PARTY does not know or suspect to exist in his OR HER favor at the time of executing the release AND THAT, if known by him OR HER, would have materially affected his or HER settlement with the debtor OR RELEASED PARTY.”
You understand and agree that claims or facts in addition to or different from those which are now known or believed by you to exist may hereafter be discovered, but it is your intention to release all claims that you have or may have against the Released Parties, whether known or unknown, suspected or unsuspected.
​
2.No Other Amounts/Benefits Owed.  Except as provided herein and for any accrued obligations owed under Section 3(d) of the Employment Agreement, you acknowledge and agree that you have been paid for all of your services with the Company and you have not earned any wages, salary, incentive compensation, bonuses, commissions or similar payments or benefits or any other compensation or amounts that have not already been paid to you.  You further agree that, prior to the execution of this Release, you were not entitled to receive any further payments or benefits from the Company, and the only payments and benefits that you are entitled to receive from the Company in the future are the severance payments and benefits mentioned in Section 1(a) above.
3.Restrictive Covenants; Inventions; Confidentiality.  The provisions set forth in Section 4 (Non-Solicitation; Non-Competition), Section 5 (Inventions), and Section 6 (Confidential Information and Trade Secrets) of the Employment Agreement are hereby 

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incorporated by reference into this Release (collectively, the “Executive Obligations”).  Because of the difficulty of measuring economic losses to the Company as a result of a breach of any of the covenants related to the Executive Obligations because of the immediate and irreparable damage that such a breach is likely to cause the Company for which it would have no other adequate remedy, Executive agrees that each of the covenants related to the Executive Obligations may be enforced by the Company, by permanent, preliminary and temporary injunctions and restraining orders, in addition to any other remedies allowable at law or in equity.
4.Breach/Remedies.  If the Company determines that you breached any of your obligations under this Release, the Employment Agreement or as otherwise imposed by law, the Company will be entitled to recover all severance and other consideration paid or provided under this Release and the Employment Agreement and to obtain all other relief provided by law or equity. 
5.Mutual Non-disparagement. Executive agrees not to make any negative or disparaging statements or communications regarding either the Company or its affiliates or any of their respective operations, officers, directors or stockholders.  The Company agrees to instruct its officers and directors not to make any negative or disparaging statements or communications regarding Executive.  The covenant contained in this Section 5 shall not prevent either Party from providing truthful testimony in proceedings to enforce or defend their rights under this Agreement.
6.No Admission.  Nothing contained in this Release shall constitute or be treated as an admission by the Company of any liability, wrongdoing, or violation of law.
7.Proceedings. The Executive has not filed any complaint, charge, claim or proceeding against the Company before any local, state or federal agency, court or other body relating to the Executive’s employment or the termination thereof.
8.Return of Company Property.  You agree that as of [DATE] (your “Termination Date”), you will return to the Company any and all Company records, materials and other physical objects relating to your employment with the Company, including, without limitation, all Company credit cards, phone cards, equipment, documents (in paper and electronic form), computers, personal digital assistants and access keys and all materials and things embodying, relating to, containing or derived from any Inventions, Trade Secrets or Confidential Information (as each such term is defined in your Employment Agreement) and you will return and/or destroy all Company property stored in electronic form or media (including, but not limited to, any Company property stored in your personal computer, USB drives or in a cloud environment).
9.Cooperation with the Company.  In addition, the Executive shall cooperate with and assist the Company in the investigation of, preparation for or defense of any actual or threatened third party claim, investigation or proceeding involving the Company or its predecessors or affiliates and arising from or relating to, in whole or in part, the Executive’s employment with the Company or its predecessors or affiliates for which the Company reasonably requests the Executive’s assistance, which cooperation and assistance shall include, but not be limited to, providing truthful testimony and assisting in information and document gathering efforts.  Executive will be reimbursed for any reasonable and necessary expenses related to the 

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Executive’s compliance with this Section 9.
10.Indemnification.  Notwithstanding anything to the contrary, the Indemnification Agreement shall remain in effect following the Termination Date pursuant to its terms.  Further, the Company agrees to maintain, at its cost, D&O insurance that will cover the Executive for a period of six (6) years following the Termination Date, on the same basis as provided to current executives of the Company during such period.
11.Arbitration. Except for any claim for injunctive relief arising out of a breach of a party’s obligations to protect the other’s confidential and/or proprietary information, to ensure rapid and economical resolution of any disputes regarding this Agreement, you and the Company agree that any and all claims, disputes or controversies of any nature whatsoever arising out of, or relating to, this Agreement, or its interpretation, enforcement, breach, performance or execution, shall be resolved by final, binding and confidential arbitration in New York, NY conducted under the Judicial Arbitration and Mediation Service (JAMS) Streamlined Arbitration Rules & Procedures, which can be reviewed at http://www.jamsadr.com/rules-streamlined-arbitration/.  You and the Company each acknowledge that by agreeing to this arbitration procedure, you and the Company waive the right to resolve any such dispute, claim or demand through a trial by jury or judge or by administrative proceeding.  The arbitrator, and not a court, shall also be authorized to determine whether the provisions of this paragraph apply to a dispute, controversy, or claim sought to be resolved in accordance with these arbitration procedures. The arbitrator may in his or her discretion award attorneys’ fees to the prevailing party. All claims, disputes, or controversies subject to arbitration as set forth in this paragraph must be submitted to arbitration on an individual basis and not as a representative, class and/or collective action proceeding on behalf of other individuals.  Claims will be governed by applicable statutes of limitations.  This arbitration agreement shall be construed and interpreted in accordance with the laws of the State of New York and the Federal Arbitration Act (“FAA”).  In the case of a conflict, the FAA will control.
12.Opportunity to Consult with Counsel.  The Executive acknowledges that he has had an opportunity to consult with and be represented by counsel of the Executive’s choosing in the review of this Release, that he has been advised by the Company to do so, that he is fully aware of the contents of the Release and of its legal effect, that the preceding paragraphs recite the sole consideration for this Release, and that he enters into this Release freely, without duress or coercion, and based on his own judgment and wishes and not in reliance upon any representation or promise made by the Company, other than those contained herein.
13.No Reemployment or Workers’ Compensation.  You acknowledge that you will have no right to employment with the Company after the Termination Date and that you shall not apply for reemployment with the Company after the Termination Date.  You further acknowledge and agree that you did not suffer an injury covered by workers’ compensation in the course and scope of your employment with the Company.
14.Section 409A.  The intent of the Parties is that payments and benefits under this Agreement comply with, or are exempt from, Section 409A of the Internal Code of 1986, as amended (“Section 409A”), to the extent subject thereto, and accordingly, to the maximum extent permitted, this Agreement will be interpreted and administered to be exempt therewith and the 

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remainder to be interpreted and administered to be in compliance therewith.  Each amount to be paid or benefit to be provided under this Agreement shall be construed as a separate payment for purposes of Section 409A.  Notwithstanding anything contained herein to the contrary, you will not be considered to have terminated employment for purposes of any payments under this Agreement that are subject to Section 409A until you have incurred a “separation from service” within the meaning of Section 409A.  Without limiting the foregoing and notwithstanding anything contained herein to the contrary, to the extent required in order to avoid an accelerated or additional tax under Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided to you during the six-month period immediately following your separation from service shall instead be paid on the first business day after the date that is six months following your separation from service (or, if earlier, upon your death).
15.Confidentiality; Invention Assignment.  You agree that you will remain bound by any previously executed standard Company agreement related to confidential information and assignment of inventions that is in addition to the provisions in the Employment Agreement (such additional agreement, the “Confidential Information Agreement”).
16.Entire Agreement.  You agree that except as otherwise expressly provided in this Release (including the specified surviving provisions of the Employment Agreement) and the Indemnification Agreement, this Release renders null and void any and all prior or contemporaneous agreements between you and the Company or any affiliate of the Company.  You and the Company agree that this Release (and the agreements referred to herein) constitutes the entire agreement between you and the Company and any affiliate of the Company regarding the subject matter of this Release, and that this Release may be modified only in a written document signed by you and a duly authorized officer of the Company.  
17.Choice of Law.  This Release shall be construed and interpreted in accordance with the laws of the State of New York without giving effect to provisions governing the choice of law.
18.Severability.  The provisions of this Release are severable.  If any provision of this Release is held invalid or unenforceable, such provision shall be deemed deleted from this Release and such invalidity or unenforceability shall not affect any other provision of this Release, the balance of which will remain in and have its intended full force and effect; provided, however that if such invalid or unenforceable provision may be modified so as to be valid and enforceable as a matter of law, such provision shall be deemed to have been modified so as to be valid and enforceable to the maximum extent permitted by law.
19.Headings.  The headings of the Sections of this Release are provided for convenience only.  They do not alter or limit, in any way, the text of any Section of this Release.
20.Execution in Counterparts.  You agree that this Release may be executed in counterparts, each of which shall be an original, but all of which together shall constitute one agreement.  Execution of a facsimile copy or scanned image shall have the same force and effect as execution of an original, and a facsimile signature or scanned image of a signature shall be deemed an original and valid signature.  

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[Signature Page Follows]

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To accept this Release, please sign and date this Release and return it to me.  You have until 5:00 p.m. PT on the date that is [21/45] days following your receipt of this Release to review and consider this Release and to provide me with an executed copy thereof, but in no event may you execute this Release prior to your Termination Date.  Please indicate your agreement with the above terms by signing below.
Sincerely,
​
ANI PHARMACEUTICALS, INC.
By:​ ​
(Signature)
Name:​ ​
Title:​ ​
​
As set forth above in Section 1(b) above, you have up to [21/45] days after receipt of this Release within which to review it and to discuss with an attorney of your own choosing, at your own expense, whether or not you wish to sign it.  Furthermore, you have 7 days after you have signed this Release during which time you may revoke this Release.  If you wish to revoke this Release, you may do so by delivering a letter of revocation to [NAME], the Company’s [TITLE], no later than the close of business on the 7th day after you sign this Release.  Because of the revocation period, if you don’t revoke this Release, you understand that this Release shall not become effective or enforceable until the 8th day after the date you sign this Release.
My agreement with the terms of this Release is signified by my signature below.  Furthermore, I acknowledge that I have read and understand this Release and that I sign this release of all claims voluntarily, with full appreciation that at no time in the future may I pursue any of the rights I have waived in this Release. 
​
Signed  ​ ​​ ​​ ​​ ​​ ​​ ​  Dated:  ​ ​​ ​​ ​
[Executive]
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EXHIBIT B
INDEMNIFICATION AGREEMENT
THIS INDEMNIFICATION AGREEMENT, made and executed this [  ] day of [    ], 20__, by and between ANI Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and [    ], an individual resident of the State of [     ] (the “Indemnitee”).
WHEREAS, the Company is aware that, in order to induce highly competent persons to serve the Company as officers, the Company must provide such persons with adequate protection through insurance and indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the Company;
WHEREAS, the Company recognizes that the increasing difficulty in obtaining officers’ liability insurance, the increases in the cost of such insurance and the general reductions in the coverage of such insurance have increased the difficulty of attracting and retaining such persons;
WHEREAS, the Board of Directors of the Company has determined that it is essential to the best interests of the Company’s stockholders that the Company act to assure such persons that there will be increased certainty of such protection in the future;
WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify such persons to the fullest extent permitted by applicable law so that they will continue to serve the Company free from undue concern that they will not be so indemnified; and
WHEREAS, the Indemnitee is willing to serve, continue to serve, and take on additional service for or on behalf of the Company or any of its direct or indirect subsidiaries on the condition that he/she be so indemnified.
NOW, THEREFORE, in consideration of the premises and the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Indemnitee do hereby agree as follows:
1.Service by the Indemnitee.  The Indemnitee agrees to serve and/or continue to serve as an officer of the Company faithfully and will discharge his/her duties and responsibilities to the best of his/her ability so long as the Indemnitee is duly appointed in accordance with the provisions of the Amended and Restated Certificate of Incorporation, as amended (the “Certificate”), and 

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Bylaws, as amended (the “Bylaws”) of the Company and the General Corporation Law of the State of Delaware, as amended (the “DGCL”), or until his/her earlier death, resignation or removal.  The Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or other obligation imposed by operation by law), in which event the Company shall have no obligation under this Agreement to continue to retain the Indemnitee in any such position.  Nothing in this Agreement shall confer upon the Indemnitee the right to continue in the employ of the Company or affect the right of the Company to terminate the Indemnitee’s employment at any time in the sole discretion of the Company, with or without cause, subject to any contract rights of the Indemnitee created or existing otherwise than under this Agreement.

2.Indemnification.  The Company shall indemnify the Indemnitee against all Expenses (as defined below), judgments, fines and amounts paid in settlement actually and reasonably incurred by the Indemnitee as provided in this Agreement to the fullest extent permitted by the Certificate, Bylaws and DGCL or other applicable law in effect on the date of this Agreement and to any greater extent that applicable law may in the future from time to time permit.  Without diminishing the scope of the indemnification provided by this Section 2, the rights of indemnification of the Indemnitee provided hereunder shall include, but shall not be limited to, those rights hereinafter set forth, except that no indemnification shall be paid to the Indemnitee:​
(a)on account of any action, suit or proceeding in which judgment is rendered against the Indemnitee for disgorgement of profits made from the purchase or sale by the Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or similar provisions of any federal, state or local statutory law;
(b)on account of conduct of the Indemnitee which is finally adjudged by a court of competent jurisdiction to have been knowingly fraudulent or to constitute willful misconduct;
(c)in any circumstance where such indemnification is expressly prohibited by applicable law;
(d)with respect to liability for which payment is actually made to the Indemnitee under a valid and collectible insurance policy of the Company or under a valid and enforceable indemnity clause, Bylaw or agreement (other than this Agreement) of the Company, except in respect of any liability in excess of payment under such insurance, clause, Bylaw or agreement;

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(e)if a final decision by a court having jurisdiction in the matter shall determine that such indemnification is not lawful (and, in this respect, both the Company and the Indemnitee have been advised that it is the position of the Securities and Exchange Commission that indemnification for liabilities arising under the federal securities laws is against public policy and is, therefore, unenforceable, and that claims for indemnification should be submitted to the appropriate court for adjudication); or
(f)in connection with any action, suit or proceeding by the Indemnitee against the Company or any of its direct or indirect subsidiaries or the directors, officers, employees or other Indemnitees of the Company or any of its direct or indirect subsidiaries, (i) unless such indemnification is expressly required to be made by law, (ii) unless the proceeding was authorized by the Board of Directors of the Company, (iii) unless such indemnification is provided by the Company, in its sole discretion, pursuant to the powers vested in the Company under applicable law, or (iv) except as provided in Sections 11 and 13 hereof.
3.Actions or Proceedings Other Than an Action by or in the Right of the Company.  The Indemnitee shall be entitled to the indemnification rights provided in this Section 3 if the Indemnitee was or is a party or witness or is threatened to be a party or witness to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative in nature, other than an action by or in the right of the Company, by reason of the fact that the Indemnitee is or was a director, officer, employee, agent or fiduciary of the Company, or any of its direct or indirect subsidiaries, or is or was serving at the request of the Company, or any of its direct or indirect subsidiaries, as a director, officer, employee, agent or fiduciary of any other entity, including, but not limited to, another corporation, partnership, limited liability company, employee benefit plan, joint venture, trust or other enterprise, or by reason of any act or omission by him/her in such capacity.  Pursuant to this Section 3, the Indemnitee shall be indemnified against all Expenses, judgments, penalties (including excise and similar taxes), fines and amounts paid in settlement which were actually and reasonably incurred by the Indemnitee in connection with such action, suit or proceeding (including, but not limited to, the investigation, defense or appeal thereof), if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his/her conduct was unlawful.

4.Actions by or in the Right of the Company.  The Indemnitee shall be entitled to the indemnification rights provided in this Section 4 if the Indemnitee was or is a party or witness or is threatened to be made a party or witness to any threatened, pending or completed action, suit or proceeding brought by or in the right of the Company to procure a judgment in its favor by reason 

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of the fact that the Indemnitee is or was a director, officer, employee, agent or fiduciary of the Company, or any of its direct or indirect subsidiaries, or is or was serving at the request of the Company, or any of its direct or indirect subsidiaries, as a director, officer, employee, agent or fiduciary of another entity, including, but not limited to, another corporation, partnership, limited liability company, employee benefit plan, joint venture, trust or other enterprise, or by reason of any act or omission by him/her in any such capacity.  Pursuant to this Section 4, the Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by him/her in connection with the defense or settlement of such action, suit or proceeding (including, but not limited to the investigation, defense or appeal thereof), if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; provided however, that no such indemnification shall be made in respect of any claim, issue, or matter as to which the Indemnitee shall have been adjudged to be liable to the Company, unless and only to the extent that the Court of Chancery of the State of Delaware or the court in which such action, suit or proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, the Indemnitee is fairly and reasonably entitled to be indemnified against such Expenses actually and reasonably incurred by him/her which such court shall deem proper.

5.Good Faith Definition.  For purposes of this Agreement, the Indemnitee shall be deemed to have acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, or, with respect to any criminal action or proceeding to have had no reasonable cause to believe the Indemnitee’s conduct was unlawful, if, among other things, such action was based on (i) the records or books of the account of the Company or other enterprise, including financial statements; (ii) the advice of legal counsel for the Company or other enterprise; or (iii) information or records given in reports made to the Company or other enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Company or other enterprise.

6.Indemnification for Expenses of Successful Party.  Notwithstanding the other provisions of this Agreement, to the extent that the Indemnitee has served on behalf of the Company, or any of its direct or indirect subsidiaries, as a witness or other participant in any class action or proceeding, or has been successful, on the merits or otherwise, in defense of any action, suit or proceeding referred to in Section 3 and 4 hereof, or in defense of any claim, issue or matter therein, including, but not limited to, the dismissal of any action without prejudice, the Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by the Indemnitee in connection therewith, regardless of whether or not the Indemnitee has met the applicable standards of Section 3 or 4 and without any determination pursuant to Section 8.

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7.Partial Indemnification.  If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by the Indemnitee in connection with the investigation, defense, appeal or settlement of such suit, action, investigation or proceeding described in Section 3 or 4 hereof, but is not entitled to indemnification for the total amount thereof, the Company shall nevertheless indemnify the Indemnitee for the portion of such Expenses, judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by the Indemnitee to which the Indemnitee is entitled.

8.Procedure for Determination of Entitlement to Indemnification.​
(a)To obtain indemnification under this Agreement, the Indemnitee shall submit to the Company a written request, including documentation and information which is reasonably available to the Indemnitee and is reasonably necessary to determine whether and to what extent the Indemnitee is entitled to indemnification.  The Secretary of the Company shall, promptly upon receipt of a request for indemnification, advise the Board of Directors in writing that the Indemnitee has requested indemnification.  Any Expenses incurred by the Indemnitee in connection with the Indemnitee’s request for indemnification hereunder shall be borne by the Company.  The Company hereby indemnifies and agrees to hold the Indemnitee harmless for any Expenses incurred by the Indemnitee under the immediately preceding sentence irrespective of the outcome of the determination of the Indemnitee’s entitlement to indemnification.
(b)Upon written request by the Indemnitee for indemnification pursuant to Section 3 or 4 hereof, the entitlement of the Indemnitee to indemnification pursuant to the terms of this Agreement shall be determined by the following person or persons, who shall be empowered to make such determination: (i) if a Change in Control (as hereinafter defined) shall have occurred, by Independent Counsel (as hereinafter defined) (unless the Indemnitee shall request in writing that such determination be made by the Board of Directors (or a committee thereof) in the manner provided for in clause (ii) of this Section 8(b)) in a written opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee; or (ii) if a Change in Control shall not have occurred, (A)(1) by the Board of Directors of the Company, by a majority vote of Disinterested Directors (as hereinafter defined) even though less than a quorum, or (2) by a committee of Disinterested Directors designated by majority vote of Disinterested Directors, even though less than a quorum, or (B) if there are no such Disinterested Directors or, even if there are such Disinterested Directors, if the Board of Directors, by the majority vote of Disinterested Directors, so directs, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee.  Such Independent Counsel shall be selected by the Board of Directors and approved by the Indemnitee.  Upon failure of the Board of Directors to so select, or 

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upon failure of the Indemnitee to so approve, such Independent Counsel shall be selected by the Chancellor of the State of Delaware or such other person as the Chancellor shall designate to make such selection.  Such determination of entitlement to indemnification shall be made not later than 45 days after receipt by the Company of a written request for indemnification.  If the person making such determination shall determine that the Indemnitee is entitled to indemnification as to part (but not all) of the application for indemnification, such person shall reasonably prorate such part of indemnification among such claims, issues or matters.  If it is so determined that the Indemnitee is entitled to indemnification, payment to the Indemnitee shall be made within ten days after such determination.
9.Presumptions and Effect of Certain Proceedings.​
(a)In making a determination with respect to entitlement to indemnification, the Indemnitee shall be presumed to be entitled to indemnification hereunder and the Company shall have the burden of proof in the making of any determination contrary to such presumption.
(b)If the Board of Directors, or such other person or persons empowered pursuant to Section 8 to make the determination of whether the Indemnitee is entitled to indemnification, shall have failed to make a determination as to entitlement to indemnification within 45 days after receipt by the Company of such request, the requisite determination of entitlement to indemnification shall be deemed to have been made and the Indemnitee shall be absolutely entitled to such indemnification, absent actual and material fraud in the request for indemnification or a prohibition of indemnification under applicable law.  The termination of any action, suit, investigation or proceeding described in Section 3 or 4 hereof by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself: (i) create a presumption that the Indemnitee did not act in good faith and in a manner which he/she reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, that the Indemnitee has reasonable cause to believe that the Indemnitee’s conduct was unlawful; or (ii) otherwise adversely affect the rights of the Indemnitee to indemnification, except as may be provided herein.
10.Advancement of Expenses.  All reasonable Expenses actually incurred by the Indemnitee in connection with any threatened or pending action, suit or proceeding shall be paid by the Company in advance of the final disposition of such action, suit or proceeding, if so requested by the Indemnitee, within 20 days after the receipt by the Company of a statement or statements from the Indemnitee requesting such advance or advances.  The Indemnitee may submit such statements from time to time.  The Indemnitee’s entitlement to such Expenses shall include those incurred in connection with any proceeding by the Indemnitee seeking an adjudication or award in arbitration 

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pursuant to this Agreement.  Such statement or statements shall reasonably evidence the Expenses incurred by the Indemnitee in connection therewith and shall include or be accompanied by a written affirmation by the Indemnitee of the Indemnitee’s good faith belief that the Indemnitee has met the standard of conduct necessary for indemnification under this Agreement and an undertaking by or on behalf of the Indemnitee to repay such amount if it is ultimately determined that the Indemnitee is not entitled to be indemnified against such Expenses by the Company pursuant to this Agreement or otherwise.  Each written undertaking to pay amounts advanced must be an unlimited general obligation but need not be secured, and shall be accepted without reference to financial ability to make repayment.

11.Remedies of the Indemnitee in Cases of Determination not to Indemnify or to Advance Expenses.  In the event that a determination is made that the Indemnitee is not entitled to indemnification hereunder or if the payment has not been timely made following a determination of entitlement to indemnification pursuant to Sections 8 and 9, or if Expenses are not advanced pursuant to Section 10, the Indemnitee shall be entitled to a final adjudication in an appropriate court of the State of Delaware or any other court of competent jurisdiction of the Indemnitee’s entitlement to such indemnification or advance.  Alternatively, the Indemnitee may, at the Indemnitee’s option, seek an award in arbitration to be conducted by a single arbitrator pursuant to the rules of the American Arbitration Association, such award to be made within 60 days following the filing of the demand for arbitration.  The Company shall not oppose the Indemnitee’s right to seek any such adjudication or award in arbitration or any other claim.  Such judicial proceeding or arbitration shall be made de novo, and the Indemnitee shall not be prejudiced by reason of a determination (if so made) that the Indemnitee is not entitled to indemnification.  If a determination is made or deemed to have been made pursuant to the terms of Section 8 or Section 9 hereof that the Indemnitee is entitled to indemnification, the Company shall be bound by such determination and shall be precluded from asserting that such determination has not been made or that the procedure by which such determination was made is not valid, binding and enforceable.  The Company further agrees to stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement and is precluded from making any assertions to the contrary.  If the court or arbitrator shall determine that the Indemnitee is entitled to any indemnification hereunder, the Company shall pay all reasonable Expenses actually incurred by the Indemnitee in connection with such adjudication or award in arbitration (including, but not limited to, any appellate proceedings).

12.Notification and Defense of Claim.  Promptly after receipt by the Indemnitee of notice of the commencement of any action, suit or proceeding, the Indemnitee will, if a claim in respect thereof is to be made against the Company under this Agreement, notify the Company in writing of the commencement thereof; but the omission to so notify the Company will not relieve the Company from any liability that it may have to the Indemnitee otherwise than under this 

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Agreement or otherwise, except to the extent that the Company may suffer material prejudice by reason of such failure.  Notwithstanding any other provision of this Agreement, with respect to any such action, suit or proceeding as to which the Indemnitee gives notice to the Company of the commencement thereof:

(a)The Company will be entitled to participate therein at its own expense.
(b)Except as otherwise provided in this Section 12(b), to the extent that it may wish, the Company, jointly with any other indemnifying party similarly notified, shall be entitled to assume the defense thereof with counsel reasonably satisfactory to the Indemnitee.  After notice from the Company to the Indemnitee of its election to so assume the defense thereof, the Company shall not be liable to the Indemnitee under this Agreement for any legal or other Expenses subsequently incurred by the Indemnitee in connection with the defense thereof other than reasonable costs of investigation or as otherwise provided below.  The Indemnitee shall have the right to employ the Indemnitee’s own counsel in such action or lawsuit, but the fees and Expenses of such counsel incurred after notice from the Company of its assumption of the defense thereof shall be at the expense of the Indemnitee unless (i) the employment of counsel by the Indemnitee has been authorized by the Company, (ii) the Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee in the conduct of the defense of such action and such determination by the Indemnitee shall be supported by an opinion of counsel, which opinion shall be reasonably acceptable to the Company, or (iii) the Company shall not in fact have employed counsel to assume the defense of the action, in each of which cases the fees and Expenses of counsel shall be at the expense of the Company.  The Company shall not be entitled to assume the defense of any action, suit or proceeding brought by or on behalf of the Company or as to which the Indemnitee shall have reached the conclusion provided for in clause (ii) above.
(c)The Company shall not be liable to indemnify the Indemnitee under this Agreement for any amounts paid in settlement of any action, suit or proceeding effected without its written consent, which consent shall not be unreasonably withheld.  The Company shall not be required to obtain the consent of the Indemnitee to settle any action, suit or proceeding which the Company has undertaken to defend if the Company assumes full and sole responsibility for such settlement and such settlement grants the Indemnitee a complete and unqualified release in respect of any potential liability.
(d)If, at the time of the receipt of a notice of a claim pursuant to this Section 12, the Company has an officer liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in 

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the respective policies.  The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of the policies.
13.Other Right to Indemnification.  The indemnification and advancement of Expenses provided by this Agreement are cumulative, and not exclusive, and are in addition to any other rights to which the Indemnitee may now or in the future be entitled under any provision of the Bylaws or Certificate of the Company, any vote of stockholders or Disinterested Directors, any provision of law or otherwise.  Except as required by applicable law, the Company shall not adopt any amendment to its Bylaws or Certificate the effect of which would be to deny, diminish or encumber the Indemnitee’s right to indemnification under this Agreement.

14.Officer Liability Insurance.  The Company shall maintain officers’ liability insurance for so long as the Indemnitee’s services are covered hereunder, provided and to the extent that such insurance is available on a commercially reasonable basis.  In the event the Company maintains officers’ liability insurance, the Indemnitee shall be named as an insured in such manner as to provide the Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s officers.  However, the Company agrees that the provisions hereof shall remain in effect regardless of whether liability or other insurance coverage is at any time obtained or retained by the Company, except that any payments made to, or on behalf of, the Indemnitee under an insurance policy shall reduce the obligations of the Company hereunder.

15.Spousal Indemnification.  The Company will indemnify the Indemnitee’s spouse to whom the Indemnitee is legally married at any time the Indemnitee is covered under the indemnification provided in this Agreement (even if the Indemnitee did not remain married to him or her during the entire period of coverage) against any pending or threatened action, suit, proceeding or investigation for the same period, to the same extent and subject to the same standards, limitations, obligations and conditions under which the Indemnitee is provided indemnification herein, if the Indemnitee’s spouse (or former spouse) becomes involved in a pending or threatened action, suit, proceeding or investigation solely by reason of his or her status as the Indemnitee’s spouse, including, without limitation, any pending or threatened action, suit, proceeding or investigation that seeks damages recoverable from marital community property, jointly-owned property or property purported to have been transferred from the Indemnitee to his/her spouse (or former spouse).  The Indemnitee’s spouse or former spouse also may be entitled to advancement of Expenses to the same extent that the Indemnitee is entitled to advancement of Expenses herein.  The Company may maintain insurance to cover its obligation hereunder with respect to the Indemnitee’s spouse (or former spouse) or set aside assets in a trust or escrow fund for that purpose.

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16.Intent.  This Agreement is intended to be broader than any statutory indemnification rights applicable in the State of Delaware and shall be in addition to any other rights the Indemnitee may have under the Company’s Certificate, Bylaws, applicable law or otherwise.  To the extent that a change in applicable law (whether by statute or judicial decision) permits greater indemnification by agreement than would be afforded currently under the Company’s Certificate, Bylaws, applicable law or this Agreement, it is the intent of the parties that the Indemnitee enjoy by this Agreement the greater benefits so afforded by such change.  In the event of any change in applicable law, statute or rule which narrows the right of a Delaware corporation to indemnify its officer, employee, agent or fiduciary, such change, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties’ rights and obligations hereunder.

17.Attorney’s Fees and Other Expenses to Enforce Agreement.  In the event that the Indemnitee is subject to or intervenes in any action, suit or proceeding in which the validity or enforceability of this Agreement is at issue or seeks an adjudication or award in arbitration to enforce the Indemnitee’s rights under, or to recover damages for breach of, this Agreement the Indemnitee, if he/she prevails in whole or in part in such action, shall be entitled to recover from the Company and shall be indemnified by the Company against any actual expenses for attorneys’ fees and disbursements reasonably incurred by the Indemnitee.18.Effective Date.  The provisions of this Agreement shall cover claims, actions, suits or proceedings whether now pending or hereafter commenced and shall be retroactive to cover acts or omissions or alleged acts or omissions which heretofore have taken place.  The Company shall be liable under this Agreement, pursuant to Sections 3 and 4 hereof, for all acts of the Indemnitee while serving as an officer, notwithstanding the termination of the Indemnitee’s service, if such act was performed or omitted to be performed during the term of the Indemnitee’s service to the Company.

19.Duration of Agreement.  This Agreement shall survive and continue even though the Indemnitee may have terminated his/her service as an officer, employee, agent or fiduciary of the Company or as a director, officer, employee, agent or fiduciary of any other entity, including, but not limited to another corporation, partnership, limited liability company, employee benefit plan, joint venture, trust or other enterprise or by reason of any act or omission by the Indemnitee in any such capacity.  This Agreement shall be binding upon the Company and its successors and assigns, including, without limitation, any corporation or other entity which may have acquired all or substantially all of the Company’s assets or business or into which the Company may be consolidated or merged, and shall inure to the benefit of the Indemnitee and his/her spouse, successors, assigns, heirs, devisees, executors, administrators or other legal representations.  The Company shall require any successor or assignee (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, by written agreement in form and substance reasonably satisfactory to the Company and the 

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Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession or assignment had taken place
.20.Disclosure of Payments.  Except as expressly required by any Federal or state securities laws or other Federal or state law, neither party shall disclose any payments under this Agreement unless prior approval of the other party is obtained
.21.Severability.  If any provision or provisions of this Agreement shall be held invalid, illegal or unenforceable for any reason whatsoever, (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, but not limited to, all portions of any Sections of this Agreement containing any such provision held to be invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and (b) to the fullest extent possible, the provisions of this Agreement (including, but not limited to, all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifest by the provision held invalid, illegal or unenforceable.

22.Counterparts.  This Agreement may be executed by one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.  Only one such counterpart signed by the party against whom enforceability is sought shall be required to be produced to evidence the existence of this Agreement.

23.Captions.  The captions and headings used in this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof
.24.Definitions.  For purposes of this Agreement:​
(a)“Change in Control” shall mean the occurrence of any one of the following:
(i)the sale, lease, exchange or other transfer, directly or indirectly, of substantially all of the assets of the Company (in one transaction or in a series of related transactions) to a person or entity that is not controlled by the Company;

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(ii)the approval by the stockholders of the Company of any plan or proposal for the liquidation or dissolution of the Company;
(iii)any person becomes after the effective date of this Agreement the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of (A) 20% or more, but not 50% or more, of the combined voting power of the Company’s outstanding securities ordinarily having the right to vote at elections of directors, unless the transaction resulting in such ownership has been approved in advance by the Continuity Directors, or (B) 50% or more of the combined voting power of the Company’s outstanding securities ordinarily having the right to vote at elections of directors (regardless of any approval by the Continuity Directors); 
(iv)a merger or consolidation to which the Company is a party if the stockholders of the Company immediately prior to effective date of such merger or consolidation have “beneficial ownership” (as defined in Rule 13d-3 under the Exchange Act), immediately following the effective date of such merger or consolidation, of securities of the surviving corporation representing (A) more than 50%, but less than 80%, of the combined voting power of the surviving corporation’s then outstanding securities ordinarily having the right to vote at elections of directors, unless such merger or consolidation has been approved in advance by the Continuity Directors, or (B) 50% or less of the combined voting power of the surviving corporation’s then outstanding securities ordinarily having the right to vote at elections of directors (regardless of any approval by the Continuity Directors);
(v)the Continuity Directors cease for any reason to constitute at least a majority of the Board; or
(vi)any other change in control of the Company of a nature that would be required to be reported pursuant to Section 13 or 15(d) of the Exchange Act, whether or not the Company is then subject to such reporting requirement.
(b)“Continuity Directors” shall mean any individuals who are members of the Board on the effective date of this Agreement and any individual who subsequently becomes a member of the Board whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the Continuity Directors (either by specific vote or by approval of the Company’s proxy statement in which such individual is named as a nominee for director without objection to such nomination).

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(c)“Disinterested Director” shall mean a director of the Company who is not or was not a party to the action, suit, investigation or proceeding in respect of which indemnification is being sought by the Indemnitee.
(d)“Expenses” shall include all attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating or being or preparing to be a witness in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative in nature.
(e)“Independent Counsel” shall mean a law firm or a member of a law firm that neither is presently nor in the past five years has been retained to represent (i) the Company or the Indemnitee in any matter material to either such party or (ii) any other party to the action, suit, investigation or proceeding giving rise to a claim for indemnification hereunder.  Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or the Indemnitee in an action to determine the Indemnitee’s right to indemnification under this Agreement.
25.Entire Agreement, Modification and Waiver.  This Agreement constitutes the entire agreement and understanding of the parties hereto regarding the subject matter hereof, and no supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both parties hereto.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.  No supplement, modification or amendment of this Agreement shall limit or restrict any right of the Indemnitee under this Agreement in respect of any act or omission of the Indemnitee prior to the effective date of such supplement, modification or amendment unless expressly provided therein. 

26.Notices.  All notices, requests, demands or other communications hereunder shall be in writing and shall be deemed to have been duly given if (a) delivered by hand with receipt acknowledged by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail, return receipt requested with postage prepaid, on the date shown on the return receipt, (c) sent by a recognized next-day courier service on the first business day following the date of dispatch or (d) delivered by facsimile transmission on the date shown on the facsimile machine report:(

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i) If to the Indemnitee to:
[NAME]
at the address on file with the Company
Telephone No.:  [INSERT]
E-Mail:
(ii) If to the Company, to:
ANI Pharmaceuticals, Inc.
210 Main Street West
Baudette, Minnesota 56623
Attn:  Chief Executive Officer
Fax:  [(302) 482-8645]
or to such other address as may be furnished to the Indemnitee by the Company or to the Company by the Indemnitee, as the case may be.
27.Governing Law.  The parties hereto agree that this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, applied without giving effect to any conflicts-of-law principles.[Signature Page Follows]
​

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written.
ANI PHARMACEUTICALS, INC.
By:‌
Name:
Title:
INDEMNITEE:
‌​[NAME]

​Exhibit 4.2

 

 

CHARTER COMMUNICATIONS OPERATING, LLC

 

and

 

CHARTER COMMUNICATIONS OPERATING CAPITAL CORP.,

 

as Issuers,

 

CCO HOLDINGS, LLC

 

and

 

THE SUBSIDIARY GUARANTORS PARTY HERETO,

 

as Note Guarantors,

 

and

 

The Bank
of New York Mellon TRUST COMPANY, N.A.,

 

as Trustee and Collateral Agent

 

 

 

TWENTY-SECOND
SUPPLEMENTAL INDENTURE

 

Dated as of March 15, 2022

 

 

 

4.400% Senior Secured Notes due 2033 

5.250% Senior Secured Notes due 2053 

5.500% Senior Secured Notes due 2063

 

 

     

     

    

 

CROSS-REFERENCE TABLE*

 

	Trust Indenture

Act Section	 	Indenture Section
	310	(a)(1)	 	7.10
	 	(a)(2)	 	7.10
	 	(a)(3)	 	N.A.
	 	(a)(4)	 	N.A.
	 	(a)(5)	 	7.10
	 	(b)	 	7.10
	 	(c)	 	N.A.
	311	(a)	 	7.11
	 	(b)	 	7.11
	 	(c)	 	N.A.
	312	(a)	 	2.05
	 	(b)	 	12.03
	 	(c)	 	12.03
	313	(a)	 	7.06
	 	(b)(1)	 	N.A.
	 	(b)(2)	 	7.06; 7.07
	 	(c)	 	7.06; 12.02
	 	(d)	 	7.06
	314	(a)	 	4.04; 12.02; 12.04
	 	(b)	 	N.A.
	 	(c)(1)	 	12.04
	 	(c)(2)	 	12.04
	 	(c)(3)	 	N.A.
	 	(d)	 	N.A.
	 	(e)	 	12.05
	 	(f)	 	N.A.
	315	(a)	 	7.01; 7.02
	 	(b)	 	7.05; 12.02
	 	(c)	 	7.01
	 	(d)	 	7.01
	 	(e)	 	6.11
	316	(a) (last sentence)	 	2.09
	 	(a)(1)(A)	 	6.05
	 	(a)(1)(B)	 	6.04
	 	(a)(2)	 	N.A.
	 	(b)	 	6.07
	 	(c)	 	2.12
	317	(a)(1)	 	6.08
	 	(a)(2)	 	6.09
	 	(b)	 	2.04
	318	(a)	 	12.01
	 	(b)	 	N.A.
	 	(c)	 	12.01

 

N.A. means not applicable.

* This Cross Reference Table is not part of this Twenty-Second Supplemental Indenture.

 

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TABLE OF CONTENTS

 

Page

  

	Article 1
	 	 	 
	DEFINITIONS AND INCORPORATION BY REFERENCE
	 	 	 
	Section 1.01	Definitions	2
	Section 1.02	Other Definitions	8
	 	 	 
	Article 2
	 	 	 
	THE NOTES
	 	 	 
	Section 2.01	Form and Dating	8
	Section 2.02	Execution and Authentication	9
	Section 2.03	Registrar and Paying Agent	10
	Section 2.04	Paying Agent to Hold Money in
Trust	10
	Section 2.05	Holder Lists	11
	Section 2.06	Transfer and Exchange	11
	Section 2.07	Replacement Notes	16
	Section 2.08	Outstanding Notes	16
	Section 2.09	Treasury Notes	16
	Section 2.10	Temporary Notes	17
	Section 2.11	Cancellation	17
	Section 2.12	Defaulted Interest	17
	Section 2.13	CUSIP Numbers	17
	Section 2.14	FATCA	18
	 	 	 
	Article 3
	 	 	 
	REDEMPTION AND PREPAYMENT
	 	 	 
	Section 3.01	Notices to Trustee	18
	Section 3.02	Selection of Notes to Be Redeemed	18
	Section 3.03	Notice of Redemption	19
	Section 3.04	Effect of Notice of Redemption	19
	Section 3.05	Deposit of Redemption Price	20
	Section 3.06	Notes Redeemed in Part	20
	Section 3.07	Optional Redemption	21
	Section 3.08	Mandatory Redemption	21

 

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	Article 4
	 	 	 
	COVENANTS
	 	 	 
	Section 4.03	Reports	21
	 	 	 
	Article 5
	 	 	 
	SUCCESSORS
	 	 	 
	Article 6
	  	 	 
	DEFAULTS AND REMEDIES
	 	 	 
	Section 6.01	Events of Default	22
	Section 6.02	Acceleration	24
	 	 	 
	Article 7
	  	 	 
	TRUSTEE
	 	 	 
	Article 8
	 	 	 
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	 
	Article 9
	 	 	 
	AMENDMENT, SUPPLEMENT AND WAIVER
	 	 	 
	Section 9.01	Without Consent of Holders of
    Notes	26
	 	 	 
	Article 10
	  	 	 
	GUARANTEE
	 	 	 
	Article 11
	 	 	 
	[Reserved.]
	 	 	 
	Article 12
	 	 	 
	MISCELLANEOUS
	 	 	 
	Section 12.13	Table of Contents, Headings, etc.	29
	Section 12.16	Supplemental Indenture Controls	29
	Section 12.17	Submission to Jurisdiction	29

 

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	Article 13
	 	 	 
	SATISFACTION AND DISCHARGE
	 	 	 
	Section 13.03	Satisfaction and Discharge of
    Supplemental Indenture	30
	Section 13.04	Application of Trust Money	31
	 	 	 
	Article 14
	 	 	 
	COLLATERAL
	 	 	 
	SECTION 2
	 	 	 
	GRANT OF SECURITY INTEREST

 

    -iv-

     

    

 

  

TWENTY-SECOND SUPPLEMENTAL INDENTURE dated as of March 15, 2022
(the “Supplemental Indenture”) among Charter Communications Operating, LLC, a Delaware limited liability company (and
any successor Person thereto, “CCO”), Charter Communications Operating Capital Corp., a Delaware corporation (“Capital
Corp” and, together with CCO, the “Issuers”), CCO Holdings, LLC, a Delaware limited liability company (“CCO
Holdings”), the subsidiary guarantors party hereto (together with CCO Holdings, the “Note Guarantors”) and
The Bank of New York Mellon Trust Company, N.A., as trustee (together with its successors in such capacity, the “Trustee”)
and as collateral agent (together with its successors in such capacity, the “Collateral Agent”).

  

WHEREAS, the Issuers, CCO Safari II, LLC, a Delaware limited liability
company, the Trustee and the Collateral Agent have previously executed and delivered an Indenture, dated as of July 23, 2015 (the
 “Base Indenture”), providing for the issuance from time to time of one or more series of senior secured debt securities
of the Issuers;

  

WHEREAS, Section 9.01 of the Base Indenture provides that
the Issuers, the Note Guarantors and the Trustee may enter into a supplemental indenture to the Base Indenture to, among other
things, establish the form or terms of any series of Notes (as defined in the Base Indenture) as permitted by Section 2.01
hereof and Section 9.01 of the Base Indenture;

  

WHEREAS, clause (13) of Section 9.01 of the Base Indenture provides
that the Issuers, the Note Guarantors, the Trustee and the Collateral Agent may enter into a supplemental indenture changing or eliminating
any provision of the Base Indenture; provided, that any such change shall become effective only when there are no outstanding Notes
(as defined in the Base Indenture) of such series created prior to the execution of such supplemental indenture which is entitled to the
benefit of such provisions;

 

WHEREAS, the Issuers and the Note Guarantors are entering into this
Supplemental Indenture to, among other things, establish the form and terms of (i) the Issuers’ new series of 4.400% senior
secured notes due 2033 (the “2033 Notes”), (ii) the Issuers’ new series of 5.250% senior secured notes due
2053 (the “2053 Notes”) and (iii) the Issuers’ new series of 5.500% senior secured notes due 2063 (the “2063
Notes” and together with the 2033 Notes and 2053 Notes, the “Notes”), pursuant to the Base Indenture, as
modified by this Supplemental Indenture; and

  

WHEREAS, all conditions necessary to authorize the execution and delivery
of this Supplemental Indenture and to make it a valid and binding obligation of the Issuers and the Note Guarantors have been satisfied
or performed.

  

NOW, THEREFORE, in consideration of the agreements and obligations
set forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the Issuers, the Note
Guarantors, the Trustee and the Collateral Agent, for the benefit of each other and for the equal and ratable benefit of the Holders,
hereby enter into this Supplemental Indenture to, among other things, establish the terms of the Notes pursuant to Section 2.01 of
the Base Indenture and there is hereby established the Issuers’ “4.400% Senior Secured Notes due 2033,” the Issuers’
 “5.250% Senior Secured Notes due 2053” and the Issuers’ 5.500% Senior Secured Notes due 2063,” in each case, as
a separate series of Notes (as defined in the Base Indenture) and such parties further agree that this Supplemental Indenture affects
the Issuers’ 4.400% Senior Secured Notes due 2033, 5.250% Senior Secured Notes due 2053 and 5.500% Senior Secured Notes due 2063
only and not any other series of Notes (as defined in the Base Indenture).

 

    

     

    

  

Article 1

  

DEFINITIONS AND INCORPORATION BY REFERENCE

  

	 	Section 1.01	Definitions.

 

The terms defined in this Section 1.01 (except as herein otherwise
expressly provided or unless the context of this Supplemental Indenture otherwise requires) for all purposes of this Supplemental Indenture
and of any indenture supplemental hereto that governs the Notes have the respective meanings specified in this Section 1.01. All
other terms used in this Supplemental Indenture that are defined in the Base Indenture or the TIA, either directly or by reference therein
(except as herein otherwise expressly provided or unless the context of this Supplemental Indenture otherwise requires), have the respective
meanings assigned to such terms in the Base Indenture or the TIA, as the case may be, as in force at the date of this Supplemental Indenture
as originally executed. For the avoidance of doubt, the term “Indebtedness for Borrowed Money” as used herein shall not include
any obligations under any lease.

  

“Accounting Change” has the meaning assigned to
such term in the definition of “GAAP.”

  

“Additional Notes” means Notes issued pursuant to
the terms of this Supplemental Indenture in addition to Initial Notes (other than any Notes issued in respect of Initial Notes pursuant
to Sections 2.06, 2.07, 2.10 or 3.06 of this Supplemental Indenture or Section 9.05 of the Base Indenture).

  

The Notes issued pursuant to this Supplemental Indenture shall, for
the avoidance of doubt, constitute “Additional Notes” as defined in the Indenture for the purposes of the Collateral Agreement,
dated May 18, 2016, by and among CCO, Capital Corp, the Collateral Agent and the other grantors party thereto from time to time,
as the same may be amended, restated, supplemented, replaced or otherwise modified from time to time.

  

“Applicable Premium” means with respect to a Note
of a series the greater of (x) 1.0% of the principal amount of such Note and (y) on any redemption date, the excess (to the
extent positive) of:

  

(a) the present value at such redemption date of (i) 100%
of the principal amount of such Note on the applicable Par Call Date, plus (ii) all required interest payments due on such Note to
and including the applicable Par Call Date (excluding accrued but unpaid interest to the redemption date), computed upon the redemption
date using a discount rate equal to the Applicable Treasury Rate at such redemption date plus (i) with respect to the 2033 Notes,
40 basis points, (ii) with respect to the 2053 Notes, 45 basis points and (iii) with respect to the 2063 Notes, 50 basis points;
over

 

    2

     

    

  

(b) the outstanding principal amount of such Note; in each case,
as calculated by the Issuers or on behalf of the Issuers by such Person as the Issuers shall designate.

 

“Applicable Treasury Rate” with respect to a Note
of a series means, as of any redemption date, the weekly average rounded to the nearest 1⁄100th of a percentage point (for the most
recently completed week for which such information is available as of the date that is two Business Days prior to the redemption date)
of the yield to maturity of United States Treasury securities with a constant maturity (as compiled and published in the Federal Reserve
Statistical Release H.15 with respect to each applicable day during such week (or, if such statistical release is not so published or
available, any publicly available source of similar market data selected by the Issuers in good faith)) most nearly equal to the period
from the redemption date to the Par Call Date for the Notes of such series; provided, however, that if the period from the redemption
date to such Par Call Date is not equal to the constant maturity of a United States Treasury security for which such an average yield
is given, the Applicable Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from
the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from the redemption
date to such applicable date is less than one year, the weekly average yield on actively traded United States Treasury securities adjusted
to a constant maturity of one year shall be used.

 

“Base Indenture” has the meaning assigned to it
in the preamble to this Supplemental Indenture.

 

“Capital Corp” has the meaning assigned to it in
the preamble to this Supplemental Indenture.

  

“CCO” has the meaning assigned to it in the preamble
to this Supplemental Indenture.

 

“CCO Holdings” has the meaning assigned to
it in the preamble to this Supplemental Indenture.

  

“Collateral Agent” has the meaning assigned to it
in the preamble to this Supplemental Indenture.

  

“Definitive Note” means a certificated Note registered
in the name of the Holder thereof and issued in accordance with Section 2.06, substantially in the form of Exhibit A-1,
Exhibit A-2 or Exhibit A-3, as applicable, hereto except that such Note shall not bear the Global Note Legend
and shall not have the “Schedule of Exchanges of Interests in the Global Note” attached thereto.

  

“Depositary” means, with respect to the Global Notes,
the Person specified in Section 2.03 as the Depositary with respect to the Notes, and any and all successors thereto appointed as
depositary hereunder and having become such pursuant to the applicable provision of this Supplemental Indenture.

 

“Derivative Instrument” with respect to a Person,
means any contract, instrument or other right to receive payment or delivery of cash or other assets to which such Person or any Affiliate
of such Person that is acting in concert with such Person in connection with such Person’s investment in the Notes (other than a
Screened Affiliate) is a party (whether or not requiring further performance by such Person), the value and/or cash flows of which (or
any material portion thereof) are materially affected by the value and/or performance of the Notes and/or the creditworthiness of the
Issuers (the “Performance References”).

 

    3

     

    

  

“Electronic Means” shall mean the following communications
methods: e-mail, facsimile transmission, secure electronic transmission containing applicable authorization codes, passwords and/or authentication
keys issued by the Trustee, or another method or system specified by the Trustee as available for use in connection with its services
hereunder.

  

“GAAP” means generally accepted accounting principles
in the United States in effect on July 23, 2015; provided that at any time after the
Issue Date, the Issuers may elect to establish that GAAP shall mean the GAAP as in effect on a date that is on or after the Issue Date
and on or prior to the date of such election; provided that any such election, once made, shall be irrevocable. At any time after
the Issue Date, the Issuers may elect to apply International Financial Reporting Standards (“IFRS”) accounting principles
in lieu of GAAP and, upon any such election, references herein to GAAP shall thereafter be construed to mean IFRS (except as otherwise
provided in this Indenture), including as to the ability of the Issuers to make an election pursuant to the previous sentence; provided
that any such election, once made, shall be irrevocable; provided, further, that any calculation or determination in this Indenture
that requires the application of GAAP for periods that include fiscal quarters ended prior to the Issuers’ election to apply IFRS
shall remain as previously calculated or determined in accordance with GAAP; provided, further again, that the Issuers may only
make such election if they also elect to report any subsequent financial reports required to be made by the Issuers, including pursuant
to Section 13 or Section 15(d) of the Exchange Act and the covenants set forth under “Reports,” in IFRS. The
Issuers shall give notice of any such election made in accordance with this definition to the Trustee and the Holders.

 

If there occurs a change in IFRS or GAAP, as the case may be, and such
change would cause a change in the method of calculation of any standards, terms or measures (including all computations of amounts and
ratios) used in this Indenture (an “Accounting Change”), then the Issuers may elect that such standards, terms or measures
shall be calculated as if such Accounting Change had not occurred.

 

“Global Note” means a permanent Global Note substantially
in the form of Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, hereto that bears the Global
Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that is deposited
with or on behalf of and registered in the name of the Depositary, representing the Initial Notes or any Additional Notes.

  

“Global Note Legend” means the legend set forth
in Section 2.06(f) which is required to be placed on all Global Notes issued under this Supplemental Indenture.

  

“IFRS” has the meaning assigned to such term in
the definition of “GAAP.”

  

“Indenture” means the Base Indenture, as supplemented
by this Supplemental Indenture and as further amended or supplemented from time to time with respect to the Notes.

  

“Initial Notes” means the Notes issued on the Issue
Date (and any Notes issued in respect thereof pursuant to Section 2.06, 2.07, 2.10 or 3.06 of this Supplemental Indenture or Section 9.05
of the Base Indenture).

 

“Issue Date” means March 15, 2022.

 

    4

     

    

 

“Issuers” means collectively, CCO and Capital Corp,
as the context requires.

  

“Long Derivative Instrument” means a Derivative
Instrument (i) the value of which generally increases, and/or the payment or delivery obligations under which generally decrease,
with positive changes to the Performance References and/or (ii) the value of which generally decreases, and/or the payment or delivery
obligations under which generally increase, with negative changes to the Performance References.

 

“Moody’s” means Moody’s Investors Service, Inc.
or any successor to the rating agency business thereof.

 

“Net Short” means, with respect to a Holder or
beneficial owner, as of a date of determination, either (i) the value of its Short Derivative Instruments exceeds the sum of the
(x) the value of its Notes plus (y) the value of its Long Derivative Instruments as of such date of determination or (ii) it
is reasonably expected that such would have been the case were a Failure to Pay or Bankruptcy Credit Event (each as defined in the 2014
ISDA Credit Derivatives Definitions) to have occurred with respect to any Issuer immediately prior to such date of determination.

 

“Note” or “Notes” has the meaning
assigned to it in the preamble and includes the Initial Notes and any Additional Notes.

 

“Note Guarantors” has the meaning assigned to it
in the preamble to this Supplemental Indenture.

 

“Par Call Date” means (i) with respect to the
2033 Notes, January 1, 2033, (ii) with respect to the 2053 Notes, October 1, 2052 and (iii) with respect to the 2063
Notes, October 1, 2062.

 

“Performance References” has the meaning assigned
to such term in the definition of “Derivative Instrument.”

 

“Prospectus” means the base prospectus, dated December 7,
2020, as supplemented by the preliminary prospectus supplement, dated March 10, 2022, as supplemented or amended by the free writing
prospectus, dated March 10, 2022, and the final prospectus supplement, dated March 10, 2022, relating to the offering by the
Issuers of $3,500,000,000 aggregate principal amount of Initial Notes.

  

“Register” means a register in which, subject to
such reasonable regulations as it may prescribe, the Issuers shall provide for the registration of the Notes and of transfers and exchanges
of such Notes which the Issuers shall cause to be kept at the appropriate office of the Registrar in accordance with Section 2.03.

 

“S&P” means S&P Global Ratings or any successor
to the rating agency business thereof.

 

“Screened Affiliate” means any Affiliate of a Holder
(i) that makes investment decisions independently from such Holder and any other Affiliate of such Holder that is not a Screened
Affiliate, (ii) that has in place customary information screens between it and such Holder and any other Affiliate of such Holder
that is not a Screened Affiliate and such screens prohibit the sharing of information with respect to the Issuers or their Subsidiaries,
(iii) whose investment policies are not directed by such Holder or any other Affiliate of such Holder that is acting in concert with
such Holder in connection with its investment in the Notes, and (iv) whose investment decisions are not influenced by the investment
decisions of such Holder or any other Affiliate of such Holder that is acting in concert with such Holder in connection with its investment
in the Notes.

 

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“Short Derivative Instrument” means a Derivative
Instrument (i) the value of which generally decreases, and/or the payment or delivery obligations under which generally increase,
with positive changes to the Performance References and/or (ii) the value of which generally increases, and/or the payment or delivery
obligations under which generally decrease, with negative changes to the Performance References.

 

“Supplemental Indenture” has the meaning assigned
to it in the preamble to this Supplemental Indenture.

  

“Trustee” has the meaning assigned to it in the
preamble to this Supplemental Indenture.

  

With respect to the Notes only, the following definition is added to
Section 1.01 of the Base Indenture:

  

“Existing Secured Notes” means the previously issued
debt securities of the Issuers outstanding on the date hereof.

  

With respect to the Notes only, the definition of “Credit Agreement”
in the Base Indenture is hereby replaced with the following:

  

“Credit Agreement” means the Credit Agreement, dated
as of March 18, 1999, as amended and restated as of April 26, 2019, as amended as of October 24, 2019 among CCO Holdings,
LLC, CCO, the lenders party thereto, Bank of America, N.A., as administrative agent, and the other parties thereto together with the related
documents thereto (including any term loans and revolving loans thereunder, any guarantees and security documents), as further amended,
extended, renewed, restated, supplemented or otherwise modified (in whole or in part, and without limitation as to amount, terms, conditions,
covenants and other provisions) from time to time, and any agreement (and related document) governing indebtedness incurred to refinance,
in whole or in part, the borrowings and commitments then outstanding or permitted to be outstanding under such Credit Agreement or a successor
Credit Agreement, whether by the same or any other lender or group of lenders; provided that this Supplemental Indenture shall
not constitute the Credit Agreement.

  

With respect to the Notes only, the definition of “Designated
Parent Companies” in the Base Indenture is hereby replaced with the following:

  

“Designated Parent Companies” means Charter Communications, Inc.,
CCH II, CCH and CCHC.

 

    6

     

    

  

With respect to the Notes only, the definition of “Existing TWC
Notes” in the Base Indenture is hereby replaced with the following:

   

“Existing TWC Notes” means any debt securities of
Time Warner Cable, LLC or any of its Subsidiaries (other than debt securities held by Time Warner Cable, LLC or any of its Subsidiaries)
outstanding on the Issue Date.

 

With respect to the Notes only, the definition of “Permitted
Liens” in the Base Indenture is hereby replaced with the following:

  

“Permitted Liens” means:

  

(1)            Liens
Incurred by Subsidiaries of CCO to secure Indebtedness For Borrowed Money of such Subsidiaries to CCO or to one or more other Subsidiaries
of CCO;

  

(2)            Liens
existing on the Issue Date (other than Liens securing obligations under the Credit Agreement, the Notes, the Existing Secured Notes or
the Existing TWC Notes);

  

(3)            Liens
(excluding for the avoidance of doubt, any Liens securing the Existing TWC Notes) affecting property of a Person existing at the time
it becomes a Subsidiary of CCO or at the time it merges into or consolidates with CCO or a Subsidiary of CCO or at the time of a sale,
lease or other disposition of all or substantially all of the properties of such Person to CCO or any of its Subsidiaries;

  

(4)            Liens
(excluding for the avoidance of doubt, any Liens securing the Existing TWC Notes) on property or assets existing at the time of the acquisition
thereof or incurred to secure payment of all or a part of the purchase price thereof or to secure indebtedness incurred prior to, at the
time of, or within 18 months after the acquisition thereof for the purpose of financing all or part of the purchase price thereof, in
a principal amount not exceeding 110% of the purchase price;

  

(5)            Liens
on any property to secure all or part of the cost of improvements or construction thereon or indebtedness incurred to provide funds for
such purpose in a principal amount not exceeding 110% of the cost of such improvements or construction;

  

(6)            Liens
on shares of stock, indebtedness or other securities or assets of a Person that is not a Subsidiary of CCO;

  

(7)            any
extension, renewal or replacement (or successive extensions, renewals or replacements), as a whole or in part, of any Liens
described in clauses (2), (3), (4), (5), (6), (9), (10) and (11) (it being understood that any such Liens described in clause
(10) extended, renewed or replaced shall still be deemed outstanding for the purposes of such clause (10) and permitted
thereunder), of this definition, for amounts not exceeding the principal amount of the Indebtedness For Borrowed Money secured by
the Lien so extended, renewed or replaced (plus an amount equal to any premiums, accrued interest, fees and expenses payable in
connection therewith); provided, however, that such extension, renewal or replacement Lien is limited to all or a part
of the same assets that were covered by the Lien extended renewed or replaced (plus improvements on such assets and any Liens on
assets that could have secured the Indebtedness For Borrowed Money pursuant to written agreements and instruments existing at the
time);

 

    7

     

    

  

(8)            with
respect to the Notes of each series, Liens securing Obligations in respect of the Notes of each series and the Note Guarantees thereof
and Liens in favor of the Trustee;

  

(9)            Liens
resulting from progress payments or partial payments under United States government contracts or subcontracts;

  

(10)            Liens
arising or existing in connection with Indebtedness For Borrowed Money in an aggregate principal amount not exceeding at the time such
Lien is issued, created or assumed the greater of (a) 15% of the Consolidated Net Worth of CCO and (b) $7 billion; and

  

(11)            Liens
securing the Increased Amount of Indebtedness For Borrowed Money so long as the Lien securing such Indebtedness For Borrowed Money was
permitted under this Indenture.

  

With respect to the Notes only, the definition of “Wholly Owned
Subsidiary” in the Base Indenture is hereby replaced with the following:

  

“Wholly Owned Subsidiary” means, as to any Person,
any other Person all of the Equity Interests of which (other than (i) directors’ qualifying shares required by law or (ii) in
the case of CC VIII, LLC, the CCVIII Interest (as defined in the Credit Agreement)) are owned by such Person directly or through other
Wholly Owned Subsidiaries or a combination thereof.

  

	 	Section 1.02	Other Definitions.

 

	Term	 	Defined
 in Section	 
	“Authentication Order”	 	 	2.02	 
	“Default Direction”	 	 	6.02	 
	“Directing Holder”	 	 	6.02	 
	“DTC”	 	 	2.03	 
	“Noteholder Direction”	 	 	6.02	 
	“Paying Agent”	 	 	2.03	 
	“Position Representation”	 	 	6.02	 
	“Registrar”	 	 	2.03	 
	“series”	 	 	2.01	 
	“Verification Covenant”	 	 	6.02	 

 

Article 2

  

THE NOTES

  

With respect to the Notes only, Article 2 of the Base Indenture
is hereby replaced with the following:

 

	 	Section 2.01	Form and Dating.

  

(a)            General.
The Notes and the Trustee’s certificate of authentication shall be substantially in the form of (i) in the case of the 2033
Notes, Exhibit A-1, (ii) in the case of the 2053 Notes, Exhibit A-2 and (iii) in the case of the 2063
Notes, Exhibit A-3. The Notes are each a separate “series” of Notes for the purposes of the Base Indenture
and this Supplemental Indenture. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage
or this Supplemental Indenture. Each Note shall be dated the date of its authentication. The Notes shall be in minimum denominations of
$2,000 and integral multiples of $1,000 in excess thereof.

 

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The terms and provisions contained in the Notes shall constitute, and
are hereby expressly made, a part of this Supplemental Indenture and the Issuers and the Trustee, by their execution and delivery of this
Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of
any Note conflicts with the express provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall govern
and be controlling.

 

(b)            Global
Notes. Notes issued in global form shall be substantially in the form of (i) in the case of the 2033 Notes, Exhibit A-1,
(ii) in the case of the 2053 Notes, Exhibit A-2 and (iii) in the case of the 2063 Notes, Exhibit A-3,
including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto.
Notes issued in definitive form shall be substantially in the form of (i) in the case of the 2033 Notes, Exhibit A-1,
(ii) in the case of the 2053 Notes, Exhibit A-2 and (iii) in the case of the 2063 Notes, Exhibit A-3,
without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto.
Each Global Note shall represent such outstanding Notes as shall be specified therein and each shall provide that it shall represent the
aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding
Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement
of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented
thereby shall be made by the Trustee or the custodian, at the direction of the Trustee, in accordance with instructions given by the Holder
thereof as required by Section 2.06.

  

(c)            Form of
Initial Notes, Etc. All Initial Notes issued on the Issue Date are to be initially represented by one or more Global Notes.

  

	 	Section 2.02	Execution and Authentication.

  

Two Officers shall sign the Notes for each Issuer by manual or facsimile
signature.

  

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

 

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

  

At any time and from time to time after the execution and delivery
of this Supplemental Indenture, the Issuers may deliver Notes executed by the Issuers to the Trustee for authentication; and the Trustee
shall authenticate and deliver (i) Initial Notes for original issue in the aggregate principal amount of (a) in the case of
the 2033 Notes, $1,000,000,000, (b) in the case of the 2053 Notes, $1,500,000,000 and (c) in the case of the 2063 Notes, $1,000,000,000,
and (ii) Additional Notes from time to time for original issue in aggregate principal amount specified by the Issuers, in each case
specified in clauses (i) and (ii) above, upon a written order of the Issuers signed by an Officer of each Issuer (an “Authentication
Order”). Such Authentication Order shall specify the amount and series of Notes to be authenticated and the date on which the
Notes are to be authenticated, whether such Notes are to be Initial Notes or Additional Notes and whether the Notes are to be issued as
one or more Global Notes and such other information as the Issuers may include or the Trustee may reasonably request. The aggregate principal
amount of Notes which may be authenticated and delivered under this Supplemental Indenture is unlimited.

 

    9

     

    

  

On the Issue Date, the Issuers will issue Initial Notes in the form
of one or more Global Notes, as provided in Section 2.01(c). Any Additional Notes shall also be issued in the form of one or more
Global Notes, as provided in Section 2.01(c).

 

The Trustee may appoint an authenticating agent acceptable to the Issuers
to authenticate Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Supplemental
Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent
to deal with Holders or an Affiliate of the Issuers.

  

	 	Section 2.03	Registrar and Paying Agent.

 

The Issuers shall maintain an office or agency in the Borough of Manhattan,
the City of New York, where Notes may be presented for registration of transfer or for exchange (“Registrar”) and an
office or agency where Notes may be presented for payment (“Paying Agent”). Until otherwise designated by the Issuers,
the Issuers’ office or agency in New York shall be the office of the Trustee maintained for such purpose. The Registrar shall keep
the Register of the Notes and of their transfer and exchange. The Issuers may appoint one or more co-registrars and one or more additional
paying agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes
any additional paying agent. The Issuers may change any Paying Agent or Registrar without notice to any Holder. The Registrar or Paying
Agent may resign at any time upon not less than 10 Business Days’ prior written notice to the Issuers. The Issuers shall enter into
an appropriate agency agreement with any Agent not a party to this Supplemental Indenture, which shall incorporate any applicable terms
of the TIA. The Issuers shall notify the Trustee in writing of the name and address of any Agent not a party to this Supplemental Indenture.
The Company or any of its Subsidiaries may act as Paying Agent or Registrar.

  

The Issuers initially appoint The Depository Trust Company (“DTC”)
to act as Depositary with respect to the Global Notes.

  

The Issuers initially appoint the Trustee to act as the Registrar and
Paying Agent and to act as custodian with respect to the Global Notes.

  

	 	Section 2.04	Paying Agent to Hold Money in Trust.

  

Principal of, premium, if any, and interest on the Notes will be payable
at the office of the Paying Agent or, at the option of the Issuers, payment of interest may be made by check mailed to Holders at their
respective addresses set forth in the Register; provided, all payments of principal, premium, if any, and interest with respect
to the Notes represented by one or more Global Notes registered in the name or held by the Depositary shall be made by wire transfer of
immediately available funds to accounts specified by the Holder prior to 10:00 a.m., New York time, on each due date of the principal
and interest on any Note. The Issuers shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent
shall hold in trust for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium,
if any, or interest on the Notes, and shall notify the Trustee of any default by the Issuers in making any such payment. While any such
default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuers at any time may require
a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than an Issuer
or a Subsidiary) shall have no further liability for the money. If an Issuer or a Subsidiary acts as Paying Agent, it shall segregate
and hold in a separate trust fund for the benefit of Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization
proceedings relating to the Issuers, the Trustee shall serve as Paying Agent for the Notes.

 

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	 	Section 2.05	Holder Lists.

 

The Trustee shall preserve in as current a form as is reasonably practicable
the most recent list available to it of the names and addresses of all Holders and shall otherwise comply with TIA § 312(a).
If the Trustee is not the Registrar, the Issuers shall furnish to the Trustee at least seven Business Days before each interest payment
date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably
require of the names and addresses of Holders, and the Issuers shall otherwise comply with TIA § 312(a).

  

	 	Section 2.06	Transfer and Exchange.

  

(a)            Transfer
and Exchange of Global Notes. A Global Note may not be transferred as a whole except by the Depositary to a nominee of the Depositary,
by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to
a successor Depositary or a nominee of such successor Depositary. All Global Notes shall be exchanged by the Issuers for Definitive Notes
if:

  

(i)            the
Issuers deliver to the Trustee notice from the Depositary that it is unwilling or unable to continue to act as Depositary or that it is
no longer a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not appointed by the Issuers
within 120 days after the date of such notice from the Depositary;

  

(ii)            the
Issuers in their sole discretion determine that the Global Notes (in whole but not in part) should be exchanged for Definitive Notes and
deliver a written notice to such effect to the Trustee; or

  

(iii)            there
shall have occurred and be continuing a Default or Event of Default with respect to the Notes.

 

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Upon the occurrence of any of the preceding events in (i),
(ii) or (iii) above, Definitive Notes shall be issued in such names as the Depositary shall instruct the Trustee. Global
Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10. Every Note authenticated and
delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 or
Section 2.07 or 2.10, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not
be exchanged for another Note other than as provided in this Section 2.06(a); however, beneficial interests in a Global Note
may be transferred and exchanged as provided in Section 2.06(b) and (c).

 

(b)            Transfer
and Exchange of Beneficial Interests in the Global Notes.

  

The transfer and exchange of beneficial interests in the Global Notes
shall be effected through the Depositary, in accordance with the provisions of this Supplemental Indenture and the Applicable Procedures.
Transfers of beneficial interests in the Global Notes also shall require compliance with subparagraph (i) below, as well as one or
more of the other following subparagraphs, as applicable:

  

(i)            The
transferor of beneficial interest in Global Notes must deliver to the Registrar either:

 

(A)            (1) a
written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing
the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest
to be transferred or exchanged; and (2) instructions given in accordance with the Applicable Procedures containing information regarding
the Participant account to be credited with such increase; or

  

(B)            (1) a
written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing
the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged; and
(2) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive
Note shall be registered to effect the transfer or exchange referred to in (a) above.

 

Upon satisfaction of all of the requirements for transfer
or exchange of beneficial interests in Global Notes contained in this Supplemental Indenture and the Notes or otherwise applicable under
the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 2.06(g).

  

(c)            Transfer
or Exchange of Beneficial Interests for Definitive Notes.

  

(i)            Beneficial
Interests in Global Notes to Definitive Notes. If any Holder of a beneficial interest in a Global Note proposes to exchange such beneficial
interest for a Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Definitive
Note, then, upon satisfaction of the conditions set forth in Section 2.06(b)(i), the Trustee shall cause the aggregate principal
amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(g), and the Issuers shall execute and the
Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount.
Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(i) shall be registered in
such name or names and in such authorized denomination or denominations as the Holder of such beneficial interest shall instruct the Registrar
through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes
to the Persons in whose names such Notes are so registered.

 

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(d)            Transfer
and Exchange of Definitive Notes for Beneficial Interests in Global Notes.

 

(i)            Definitive
Notes to Beneficial Interests in Global Notes. A Holder of a Definitive Note may exchange such Note for a beneficial interest in a
Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Global
Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Definitive Note
and increase or cause to be increased the aggregate principal amount of one of the Global Notes.

 

(e)            Transfer
and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder’s compliance
with the provisions of this Section 2.06(e), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to
such registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive Notes duly
endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by
its attorney, duly authorized in writing. In addition, the requesting Holder shall provide any additional certifications, documents and
information, as applicable, required pursuant to the following provisions of this Section 2.06(e):

 

(i)            Definitive
Notes to another Definitive Note. A Holder of Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the
form of another Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the Definitive Notes
pursuant to the instructions from the Holder thereof.

  

(f)            Global
Note Legend. Each Global Note shall bear a legend in substantially the following form:

  

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY
(AS DEFINED IN THE SUPPLEMENTAL INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF,
AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS
MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE SUPPLEMENTAL INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE
BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE SUPPLEMENTAL INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED
TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE SUPPLEMENTAL INDENTURE AND (4) THIS GLOBAL NOTE MAY BE
TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUERS. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT 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 OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO EACH ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH
AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

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(g)            Cancellation
and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive
Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be
returned to or retained and canceled by the Trustee in accordance with Section 2.11. At any time prior to such cancellation, if any
beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial
interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note shall be reduced
accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to
reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof
in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an endorsement
shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase.

 

(h)            General
Provisions Relating to Transfers and Exchanges.

 

(i)            To
permit registrations of transfers and exchanges, the Issuers shall execute and the Trustee shall authenticate Global Notes and Definitive
Notes upon the Issuers’ order or at the Registrar’s request.

  

(ii)            No
service charge shall be made to a Holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration
of transfer or exchange, but the Issuers may require payment of a sum sufficient to cover any transfer tax or similar governmental charge
payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant
to Section 2.10 hereof and Section 9.05 of the Base Indenture).

  

(iii)            The
Registrar shall not be required to register the transfer of or exchange any Note selected for redemption in whole or in part, except the
unredeemed portion of any Note being redeemed in part.

 

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(iv)            All
Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes shall be the
valid obligations of the Issuers, evidencing the same debt, and entitled to the same benefits under this Supplemental Indenture, as the
Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

  

(v)            The
Issuers shall not be required to register the transfer of or to exchange a Note between a record date and the next succeeding interest
payment date.

 

(vi)            Prior
to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Issuers may deem and treat the Person
in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest
on such Notes and for all other purposes, and none of the Trustee, any Agent or the Issuers shall be affected by notice to the contrary.

  

(vii)            The
Trustee shall authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.02.

  

(viii)            All
certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to effect
a registration of transfer or exchange may be submitted by facsimile.

 

(ix)            Each
Holder of a Note agrees to indemnify the Issuers and the Trustee against any liability that may result from the transfer, exchange or
assignment of such Holder’s Note in violation of any provision of this Supplemental Indenture and/or applicable United States Federal
or state securities law.

  

(x)            The
Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under
this Supplemental Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers
between or among Depositary Participants or beneficial owners of interests in any Global Note) other than to require delivery of such
certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms
of, this Supplemental Indenture, and to examine the same to determine substantial compliance as to form with the express requirements
hereof.

  

(xi)            Neither
the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the Depositary.

 

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Section 2.07    Replacement
Notes.

 

If any mutilated Note is surrendered to the Trustee or the Issuers
and the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, the Issuers shall issue and the Trustee,
upon receipt of an Authentication Order, shall authenticate a replacement Note if the Trustee’s requirements are met. If required
by the Trustee or the Issuers, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and
the Issuers to protect the Issuers, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a
Note is replaced. The Issuers may charge for their expenses in replacing a Note.

 

Every replacement Note is an additional legally binding obligation
of the Issuers and shall be entitled to all of the benefits of this Supplemental Indenture equally and proportionately with all other
Notes duly issued hereunder.

 

Section 2.08    Outstanding Notes.

 

The Notes outstanding at any time are all the Notes authenticated by
the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note
effected by the Trustee in accordance with the provisions of this Supplemental Indenture, and those described in this Section 2.08
as not outstanding. Except as set forth in Section 2.09, a Note does not cease to be outstanding because the Company or an Affiliate
of the Company holds the Note.

 

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

 

If the principal amount of any Note is considered paid under Section 4.01
of the Base Indenture, it ceases to be outstanding and interest on it ceases to accrue.

 

If the Paying Agent (other than an Issuer, a Subsidiary or an Affiliate
of any thereof) holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date, then on and after that
date such Notes shall be deemed to be no longer outstanding and shall cease to accrue interest.

 

Section 2.09    Treasury Notes.

 

In determining whether the Holders of the required principal amount
of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuers, or by any Person directly or indirectly controlled
by or under direct or indirect common control with the Issuers or, if the TIA is applicable to this Supplemental Indenture, to the extent
required by the TIA, any person controlling the Issuers, shall be considered as though not outstanding, except that for the purposes of
determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes that a Responsible
Officer of the Trustee knows are so owned shall be so disregarded.

 

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Section 2.10    Temporary Notes.

 

Until certificates representing Notes are ready for delivery, the Issuers
may prepare and the Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes. Temporary Notes shall be substantially
in the form of certificated Notes but may have variations that the Issuers consider appropriate for temporary Notes and as shall be reasonably
acceptable to the Trustee. Without unreasonable delay, the Issuers shall prepare and the Trustee shall authenticate Definitive Notes in
exchange for temporary Notes.

 

Holders of temporary Notes shall be entitled to all of the benefits
of this Supplemental Indenture.

 

Section 2.11    Cancellation.

 

The Issuers at any time may deliver Notes to the Trustee for cancellation.
The Registrar and Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment.
The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation
and shall dispose of such canceled Notes in its customary manner. The Issuers may not issue new Notes to replace Notes that they have
paid or that have been delivered to the Trustee for cancellation.

 

Section 2.12    Defaulted Interest.

 

If the Issuers default in a payment of interest on the Notes, the
Issuers shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted
interest, which interest on defaulted interest shall accrue until the defaulted interest is deemed paid hereunder, to the Persons
who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 of the
Base Indenture. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note
and the date of the proposed payment. The Issuers shall fix or cause to be fixed each such special record date and payment date; provided
that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. At least
15 days before the special record date, the Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the
expense of the Issuers) shall mail or cause to be mailed to Holders a notice that states the special record date, the related
payment date and the amount of such interest to be paid.

 

Section 2.13    CUSIP Numbers.

 

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

 

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Section 2.14    FATCA.

 

The Issuers hereby agree (i) to give notice to the Trustee upon
becoming aware that any payment under the Indenture will be treated as a withholdable payment, as such term is used in Sections 1471-1474
of the U.S. Internal Revenue Code of 1986, as amended, and Treasury regulations promulgated thereunder (“Applicable Law”);
and (ii) that the Trustee shall be entitled to make any withholding or deductions from payments under the Indenture (and shall not
be required to pay any additional amounts with respect to any such withholding or deduction on or in respect of the Notes) to the extent
necessary to comply with Applicable Law.

 

Article 3

 

REDEMPTION AND PREPAYMENT

 

With respect to the Notes only, Article 3 of the Base Indenture
is hereby replaced with the following:

 

Section 3.01    Notices to Trustee.

 

If the Issuers elect to redeem Notes pursuant to the optional redemption
provisions of Section 3.07, it shall furnish to the Trustee, at least 10 days but not more than 30 days before a redemption date,
an Officers’ Certificate setting forth (i) the clause of this Supplemental Indenture pursuant to which the redemption shall
occur, (ii) the redemption date, (iii) the principal amount of Notes to be redeemed and (iv) the redemption price; provided
that the Issuers shall notify the Trustee 5 days prior to any such redemption, which notice period may be waived by the Trustee.

 

Section 3.02    Selection of
Notes to Be Redeemed.

 

If less than all of the Notes are to be redeemed at any time, (x) if
the Notes are held in definitive form, the Notes shall be selected for redemption by lot, and (y) if the Notes are held in global
form, the Notes shall be selected for redemption by the depositary in accordance with their applicable procedures.

 

In the event of partial redemption by lot, the particular Notes to
be redeemed shall be selected, unless otherwise provided herein, not less than 15 nor more than 30 days prior to the redemption date by
the Trustee from the outstanding Notes not previously called for redemption.

 

The Trustee shall promptly notify the Issuers in writing of the Notes
selected for redemption and, in the case of any Note selected for partial redemption, the principal amount thereof to be redeemed. Notes
and portions of Notes selected shall be in amounts of $2,000 or whole multiples of $1,000 in excess thereof; except that if all of a Holder’s
Notes are to be redeemed, the entire outstanding amount of Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed.
Except as provided in the preceding sentence, provisions of this Supplemental Indenture that apply to Notes called for redemption also
apply to portions of Notes called for redemption.

 

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Section 3.03    Notice of Redemption.

 

At least 10 days but not more than 30 days before a redemption date,
the Issuers shall transmit or cause to be transmitted, a notice of redemption to each Holder whose Notes are to be redeemed at its registered
address.

 

The notice shall identify the Notes to be redeemed and shall state:

 

(a)            the
redemption date;

 

(b)            the
redemption price;

 

(c)            if
any Note is being redeemed in part only, the portion of the principal amount of such Note to be redeemed and that, after the redemption
date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion shall be issued upon cancellation
of the original Note;

 

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

 

(e)            that
Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

(f)            that,
unless the Issuers default in making such redemption payment, interest on Notes called for redemption and redeemed ceases to accrue on
and after the redemption date;

 

(g)            the
paragraph of the Notes and/or Section of this Supplemental Indenture pursuant to which the Notes called for redemption are being
redeemed;

 

(h)            that
no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the Notes;

 

(i)            any
conditions to the Issuers’ obligations to redeem the Notes as contemplated by Section 3.04; and

 

(j)            the
CUSIP number, if any.

 

At the Issuers’ request, the Trustee shall give the notice of
redemption in the Issuers’ name and at its expense; provided, however, that the Issuers shall have delivered to the
Trustee, at least 30 days prior to the redemption date (or such shorter period as to which the Trustee may agree in its sole discretion),
an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice
as provided in the preceding paragraph.

 

Section 3.04    Effect of Notice
of Redemption.

 

Once notice of redemption is transmitted in accordance with Section 3.03,
Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price; provided that any
redemption or notice of any redemption may, at the Issuers’ discretion, be given prior to the completion of a transaction or event
(including an equity offering, other offering, issuance of indebtedness, a Change of Control or other transaction or event) and any redemption
notice (including the amount of Notes redeemed and conditions precedent applicable to different amounts of Notes redeemed) may, in the
Issuers’ discretion, be subject to one or more conditions precedent, including, but not limited to, completion of the related transaction
or event. Any such redemption may be partial as a result of only some of the conditions being satisfied.

 

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If such redemption or notice is subject to satisfaction of one or more
conditions precedent, such notice shall state that, in the Issuers’ discretion, the redemption date may be delayed until such time
(including more than 30 days after the date the notice of redemption was mailed or delivered, including by electronic transmission) as
any or all such conditions shall be satisfied (or waived by the Issuers in their sole discretion), or such redemption may not occur and
such notice may be rescinded in the event that any or all such conditions shall not have been satisfied (or waived by the Issuers in their
sole discretion) by the redemption date, or by the redemption date so delayed. In addition, the Issuers may provide in such notice that
payment of the redemption price and performance of the Issuers’ obligations with respect to such redemption may be performed by
another Person.

 

Section 3.05    Deposit of Redemption
Price.

 

At or prior to 10:00 a.m., New York City time, on the redemption date,
the Issuers shall deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption price of and accrued interest
on all Notes to be redeemed on such date. The Trustee or the Paying Agent shall promptly return to the Issuers any money deposited with
the Trustee or the Paying Agent by the Issuers in excess of the amounts necessary to pay the redemption price of, and accrued interest
on, all Notes to be redeemed.

 

If the Issuers comply with the provisions of the preceding
paragraph, on and after the redemption date, interest shall cease to accrue on the Notes of a series or the portions thereof called
for redemption. If a Note is redeemed on or after an interest record date but on or prior to the related interest payment date, then
any accrued and unpaid interest shall be paid to the Person in whose name such Note was registered at the close of business on such
record date. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure of the
Issuers to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption date until such
principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in
the Notes and in Section 4.01 of the Base Indenture.

 

Section 3.06    Notes Redeemed
in Part.

 

No Notes of $2,000 principal amount or less shall be redeemed in part.
Upon surrender of a Note that is redeemed in part, the Issuers shall issue and, upon the Issuers’ written request, the Trustee shall
authenticate for the Holder at the expense of the Issuers a new Note equal in principal amount to the unredeemed portion of the Note surrendered.

 

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Section 3.07    Optional Redemption.

 

(a)            Except
as set forth in Section 3.07(c), the Issuers shall not have the option to redeem Notes pursuant to this Section 3.07(a) prior
to the Par Call Date of the Notes. On or after the Par Call Date for the Notes of a series, the Issuers may redeem the Notes of such series,
in whole or in part, at the Issuers’ option, on at least 10 days’ but not more than 30 days’ prior notice to the Holders
thereof, at a redemption price equal to 100% of the principal amount of the Notes of such series to be redeemed plus accrued and unpaid
interest on the principal amount being redeemed to, but not including, the redemption date (subject to the rights of Holders of Notes
of such series on a record date to receive the related interest payment on the related interest payment date).

 

(b)            [Reserved.]

 

(c)            Prior
to the Par Call Date with respect to each series of the Notes, the Issuers may redeem outstanding Notes, in whole or in part, at the Issuers’
option, at any time or from time to time, on at least 10 days’ but not more than 30 days’ prior notice to each Holder of the
Notes of such series to be redeemed, at a redemption price equal to 100% of the principal amount thereof plus the Applicable Premium plus
accrued but unpaid interest to, but excluding, the redemption date (subject to the rights of Holders of Notes of such series on a record
date to receive the related interest payment on the related interest payment date).

 

(d)            [Reserved.]

 

Any redemption pursuant to this Section 3.07 shall be made pursuant
to the provisions of Section 3.01 through 3.06.

 

Section 3.08    Mandatory Redemption.

 

The Issuers shall not be required to make mandatory redemption payments
with respect to the Notes.

 

Article 4

 

COVENANTS

 

With respect to the Notes only, the Issuers hereby agree to expressly
subject themselves to the provisions of Article 4 of the Base Indenture.

 

With respect to the Notes only, Section 4.03 of the Base Indenture
is hereby replaced with the following:

 

Section 4.03    Reports.

 

CCO shall file with the Trustee, and transmit to Holders, such information,
documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the
manner provided pursuant to such Act; provided that any such information, documents or reports required to be filed with the Commission
pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the same is so required
to be filed with the Commission. CCO shall also comply with the other provisions of Trust Indenture Act Section 314(a). Delivery
of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall
not constitute constructive notice of any information contained therein or determinable from information contained therein, including
the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’
Certificates).

 

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Notwithstanding anything to the contrary set forth above, for so long
as the Issuers are direct or indirect majority-owned subsidiaries of any Parent (or other Person which, directly or indirectly, owns
a majority of the outstanding common equity interests of CCO), if such Parent (or other Person which, directly or indirectly, owns a
majority of the outstanding common equity interests of CCO) has furnished the Holders of the Notes or filed electronically with the Commission
the reports described in the preceding paragraphs with respect to such Parent (or other Person which, directly or indirectly, owns a
majority of the outstanding common equity interests of CCO) and such reports include a brief explanation (or such explanation is otherwise
made available to the Holders) of the material differences between the financial statements of such Parent and that of CCO, then the
Issuers shall be deemed to be in compliance with this covenant.

 

Any information filed with the Commission and available at www.SEC.gov
or made available on any Parent’s website shall be deemed transmitted, filed and delivered as required under this Section 4.03.

 

Article 5

 

SUCCESSORS

 

With respect to the Notes only, the Issuers hereby agree to expressly
subject themselves to the provisions of Article 5 of the Base Indenture.

 

Article 6

 

DEFAULTS AND REMEDIES

 

With respect to the Notes only, the Issuers hereby agree to expressly
subject themselves to the provisions of Article 6 of the Base Indenture.

 

With respect to the Notes only, Section 6.01 of the Base Indenture
is hereby replaced with the following:

 

Section 6.01    Events of Default.

 

Except where otherwise indicated by the context or where the term is
otherwise defined for a specific purpose, the term “Event of Default” as used in this Indenture with respect to each
series of Notes shall mean one of the following described events:

 

(1)            default
in the payment of interest on such series of Notes, as applicable, when due, continued for 30 consecutive days;

 

(2)            default
in payment of principal of any Note of such series of Notes when due at maturity, upon optional redemption, upon required purchase, upon
declaration of acceleration or otherwise;

 

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(3)            the
failure by the Issuers or any Note Guarantor to comply for 90 days after notice with its covenants or other agreements (other than those
described in the immediately preceding clauses (1) and (2) above), provided that a default under this clause (3) will
not constitute an Event of Default with respect to the each series of Notes until the Trustee or the Holders of 30% in principal amount
of the outstanding Notes of such series notify the Issuers of the default and the Issuers do not cure such default within the time specified
after receipt of such notice; provided, further, that a notice of default may not be given with respect to any action taken, and
reported publicly or to Holders, more than two years prior to such notice of default;

 

(4)            (I) any
Issuer or any Subsidiary Guarantor that is a Significant Subsidiary pursuant to or within the meaning of Bankruptcy Code:

 

(a)            commences
a voluntary case,

 

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

 

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

 

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

 

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

 

(a)            is
for relief against an Issuer or a Subsidiary Guarantor that is a Significant Subsidiary in an involuntary case;

 

(b)            appoints
a custodian of an Issuer or a Subsidiary Guarantor that is a Significant Subsidiary or for all or substantially all of the property of
an Issuer or a Subsidiary Guarantor that is a Significant Subsidiary; or

 

(c)            orders
the liquidation of an Issuer or a Subsidiary Guarantor that is a Significant Subsidiary, and the order or decree remains unstayed and
in effect for 60 consecutive days.

 

(5)            any
Note Guarantee of any Subsidiary Guarantor that is a Significant Subsidiary (or Note Guarantees of any group of Subsidiary Guarantors
that, taken together, would constitute a Significant Subsidiary) ceases to be in full force and effect (other than in accordance with
the terms of such Note Guarantee and/or this Indenture) or any Note Guarantor denies or disaffirms its obligations under its Note Guarantee;
and

 

(6)            a
material portion of the Collateral ceases to be subject to the Liens of the Security Documents (other than in accordance with the terms
of this Indenture and the Security Documents) or any Issuer or Subsidiary Guarantor denies or disaffirms its obligations under the Security
Documents to which it is party.

 

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With respect to the Notes only, Section 6.02 of the Base Indenture
is hereby replaced with the following:

 

Section 6.02    Acceleration.

 

If an Event of Default arising from Section 6.01(4) with
respect to CCO occurs and is continuing, the principal of and accrued but unpaid interest on all outstanding Notes of the applicable series
shall ipso facto become immediately due and payable without any declaration or other act on the part of the Trustee or any Holders
of such series of Notes.

 

If any other Event of Default with respect to each series of the Notes
occurs and is continuing, the Trustee by notice to the Issuers or the Holders of at least 30% in principal amount of the then outstanding
Notes of such series by notice to the Issuers and the Trustee may declare such series of the Notes to be due and payable. Upon such a
declaration, such principal and interest shall be due and payable immediately. The Holders of a majority in aggregate principal amount
of such series of the Notes then outstanding by written notice to the Trustee may on behalf of all of the Holders rescind an acceleration
and its consequences with respect to such series of the Notes if the rescission would not conflict with any judgment or decree and if
all existing Events of Default (except non-payment of principal, interest or premium that has become due solely because of the acceleration)
have been cured or waived. Any time period in this Indenture to cure any actual or alleged Default or Event of Default with respect to
each series of the Notes may be extended or stayed by a court of competent jurisdiction to the extent such actual or alleged Default or
Event of Default is the subject of litigation.

 

Any notice of Default, notice of acceleration or instruction to the
Trustee to provide a notice of Default, notice of acceleration or take any other action (a “Noteholder Direction”)
provided by any one or more Holders (each, a “Directing Holder”) must be accompanied by a written representation from
each such Holder to the Issuers and the Trustee that such Holder is not (or, in the case such Holder is DTC or its nominee, that such
Holder is being instructed solely by beneficial owners that are not) Net Short (a “Position Representation”), which
representation, in the case of a Noteholder Direction relating to a notice of Default (a “Default Direction”), shall
be deemed repeated at all times until the resulting Event of Default is cured or otherwise ceases to exist or the applicable series of
Notes are accelerated. In addition, each Directing Holder must, at the time of providing a Noteholder Direction, covenant to provide the
Issuers with such other information as the Issuers may reasonably request from time to time in order to verify the accuracy of such Directing
Holder’s Position Representation within five Business Days of request therefor (a “Verification Covenant”). In
any case in which the Holder is DTC or its nominee, any Position Representation or Verification Covenant required hereunder shall be provided
by the beneficial owner of the Notes in lieu of DTC or its nominee, and DTC shall be entitled to rely on such Position Representation
and Verification Covenant in delivering its direction to the Trustee.

 

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If, following the delivery of a Noteholder Direction, but prior to
acceleration of the Notes of the applicable series, the Issuers determine in good faith that there is a reasonable basis to believe a
Directing Holder was, at any relevant time, in breach of its Position Representation and provide to the Trustee evidence that the Issuers
have initiated litigation in a court of competent jurisdiction seeking a determination that such Directing Holder was, at such time, in
breach of its Position Representation, and seeking to invalidate any Event of Default that resulted from the applicable Noteholder Direction,
the cure period with respect to such Default shall be automatically stayed and the cure period with respect to such Event of Default shall
be automatically reinstituted and any remedy stayed pending a final and non-appealable determination of a court of competent jurisdiction
on such matter. If, following the delivery of a Noteholder Direction, but prior to acceleration of the Notes of the applicable series,
the Issuers provide to the Trustee an Officers’ Certificate stating that a Directing Holder failed to satisfy its Verification Covenant,
the cure period with respect to such Default shall be automatically stayed and the cure period with respect to any Event of Default that
resulted from the applicable Noteholder Direction shall be automatically reinstituted and any remedy stayed until such time as the Issuers
provide the Trustee with an Officers’ Certificate that the Verification Covenant has been satisfied; provided that the Issuers
shall promptly deliver such Officers’ Certificate to the Trustee upon becoming aware that the Verification Covenant has been satisfied.
Any breach of the Position Representation (as evidenced by the delivery to the Trustee of the Officers’ Certificate stating that
a Directing Holder failed to satisfy its Verification Covenant) shall result in such Holder’s participation in such Noteholder Direction
being disregarded; and if, without the participation of such Holder, the percentage of Notes of the applicable series held by the remaining
Holders that provided such Noteholder Direction would have been insufficient to validly provide such Noteholder Direction, such Noteholder
Direction shall be void ab initio, with the effect that such Event of Default shall be deemed never to have occurred, acceleration voided
and the Trustee shall be deemed not to have received such Noteholder Direction or any notice of such Default or Event of Default.

 

Notwithstanding anything in the preceding two paragraphs to the contrary,
any Noteholder Direction delivered to the Trustee during the pendency of an Event of Default as the result of a bankruptcy or similar
direction shall not require compliance with the foregoing paragraphs.

 

The Trustee shall have no obligation to monitor or determine whether
a Holder is Net Short and can rely conclusively on the Officers’ Certificates delivered by the Issuers and determinations made by
a court of competent jurisdiction.

 

Article 7

 

TRUSTEE

 

With respect to the Notes only, the Issuers hereby agree to expressly
subject themselves to the provisions of Article 7 of the Base Indenture.

 

Article 8

 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

With respect to the Notes only, the Issuers hereby agree to expressly
subject themselves to the provisions of Article 8 of the Base Indenture.

 

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Article 9

 

AMENDMENT, SUPPLEMENT AND WAIVER

 

With respect to the Notes only, the Issuers hereby agree to expressly
subject themselves to the provisions of Article 9 of the Base Indenture.

 

With respect to the Notes only, Section 9.01 of the Base Indenture
is hereby replaced with the following:

 

Section 9.01    Without Consent
of Holders of Notes.

 

Notwithstanding Section 9.02 of this Indenture,
the Issuers, the Trustee and the Collateral Agent may amend or supplement this Indenture, the Intercreditor Agreement, any Note Guarantee,
any Security Document or the Notes without the consent of any Holder of a Note:

 

(1)            to
cure any ambiguity, omission, mistake, defect or inconsistency;

 

(2)            to
provide for the assumption by a successor Person of the obligations of the Issuers or any Note Guarantor under the Indenture or the Security
Documents;

 

(3)            to
provide for uncertificated Notes in addition to or in place of certificated Notes (provided that the uncertificated Notes are issued
in registered form for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described
in Section 163(f)(2)(B) of the Code);

 

(4)            to
add Guarantees with respect to the Notes or to add additional Collateral to secure the Notes and the Note Guarantees;

 

(5)            to
add to the covenants of the Issuers or any Note Guarantor for the benefit of the Holders of the Notes or to surrender any right or power
conferred upon the Issuers or any Note Guarantor;

 

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

 

(7)            to
conform the text of the Indenture, the Notes, any Note Guarantee, the Intercreditor Agreement or any Security Document to the description
and terms of such Notes in the offering circular, offering memorandum, prospectus supplement or other offering document applicable to
such Notes as the time of the initial sale thereof;

 

(8)            to
make any amendment to the provisions of the Indenture relating to the transfer and legending of Notes; provided, however,
that (a) compliance with the Indenture as so amended would not result in Notes being transferred in violation of the Securities Act
or any other applicable securities law and (b) such amendment does not materially and adversely affect the rights of Holders to transfer
Notes;

 

(9)            to
release Collateral from the Lien under the Security Document when permitted or required by the Security Documents, the Indenture or the
Intercreditor Agreement;

 

    26

     

    

 

(10)            to
evidence and provide for the acceptance and appointment under the Indenture of a successor Trustee or Collateral Agent thereunder pursuant
to the requirements thereof;

 

(11)            to
release a Note Guarantor pursuant to the terms of Article 10;

 

(12)            to
change or eliminate any of the provisions of this Indenture; provided that any such change or elimination shall not be effective
with respect to any outstanding Notes of any series created prior to the execution of such supplemental indenture that is entitled to
the benefit of such provision; or

 

(13)            to
change or eliminate any provisions of this Indenture or the Notes to eliminate the effect of any Accounting Change or in the application
thereof as described in the last paragraph of the definition of “GAAP.”

 

The consent of the Holders of the Notes is not necessary to approve
the particular form of any proposed amendment. It is sufficient if such consent approves the substance of the proposed amendment.

 

Upon the request of the Issuers accompanied by a resolution of their
respective boards of directors authorizing the execution of any such amended or supplemental indenture, and upon receipt by the Trustee
and the Collateral Agent an Officers’ Certificate and an Opinion of Counsel pursuant to Section 9.06, the Trustee and the Collateral
Agent shall join with the Issuers and any Note Guarantors in the execution of any amended or supplemental indenture authorized or permitted
by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the
Trustee and the Collateral Agent shall not be obligated to enter into such amended or supplemental indenture that affects its own rights,
duties or immunities under this Indenture or otherwise.

 

Article 10

 

GUARANTEE

 

With respect to the Notes only, the Issuers and the Note Guarantors
hereby agree to expressly subject themselves to the provisions of Article 10 of the Base Indenture.

 

Article 11

 

[Reserved.]

 

Article 12

 

MISCELLANEOUS

 

The first paragraph of Section 12.02 of the Base Indenture is
hereby replaced with the following:

 

    27

     

    

 

Any notices or other communications required or permitted hereunder
shall be in writing and shall be sufficiently given if made by hand delivery, first class mail (registered or certified, return receipt
requested), facsimile transmission or overnight air courier guaranteeing next day delivery, and addressed as follows:

 

If to the Issuers:

 

Charter Communications Operating,
LLC

Charter Communications Operating
Capital Corp.

c/o Charter Communications, Inc.

400 Washington Blvd.

Stamford, Connecticut 06902

Attention: General Counsel

Electronic Mail: rick.dykhouse@charter.com

 

With a copy to:

 

Kirkland & Ellis LLP

601 Lexington Avenue

New York, New York 10022

Facsimile No.: (212) 446-4900

Attention: Christian O. Nagler, Esq. 

 

If to the Trustee:

 

The Bank of New York Mellon Trust
Company, N.A.

2 North LaSalle Street, Suite 700 

Chicago, Illinois 60602

Facsimile No.: (312) 827-8542

Attention: Corporate Trust Administration

 

With respect to the Notes only, the last paragraph of Section 12.02
of the Base Indenture is hereby replaced with the following:

 

The Trustee shall have the right to accept and act upon instructions,
including funds transfer instructions (“Instructions”) given pursuant to this Indenture and related Security Documents
and delivered using Electronic Means; provided, however, that the Issuers shall provide to the Trustee an incumbency certificate listing
persons with the authority to provide such Instructions (“Authorized Persons”) and containing specimen signatures of
such Authorized Persons, which incumbency certificate shall be amended by the Issuers whenever a person is to be added or deleted from
the listing. If the Issuers elect to give the Trustee Instructions using Electronic Means and the Trustee in its discretion elects to
act upon such Instructions, the Trustee’s understanding of such Instructions shall be deemed controlling. The Issuers understand
and agree that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively
presume that directions that purport to have been sent by an Authorized Person listed on the incumbency certificate provided to the Trustee
have been sent by such Authorized Person. The Issuers shall be responsible for ensuring that only Authorized Person transmit such Instructions
to the Trustee and that the Issuers and all Authorized Person are solely responsible to safeguard the use and confidentiality of applicable
user and authorization codes, passwords and/or authentication keys upon receipt by the Issuers. The Trustee shall not be liable for any
losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions
notwithstanding such directions conflict or are inconsistent with a subsequent written instruction. The Issuers agree: (i) to assume
all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the
Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third parties and (ii) that it is fully informed
of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and that there may be more
secure methods of transmitting Instructions than the method(s) selected by the Issuers.

 

    28

     

    

 

With respect to the Notes only, Section 12.13 of the Base Indenture
is hereby replaced with the following:

 

Section 12.13    Table of Contents,
Headings, etc.

 

The Table of Contents, Cross-Reference Table and headings of the Articles
and Sections of this Supplemental Indenture and the Base Indenture have been inserted for convenience of reference only, are not to be
considered a part of this Supplemental Indenture or the Base Indenture and shall in no way modify or restrict any of the terms or provisions.
Unless otherwise expressly specified, references in this Supplemental Indenture to specific Articles, Sections or clauses refer to Articles,
Sections and clauses contained in this Supplemental Indenture, unless such Article, Section or clause is incorporated herein by reference
to the Base Indenture or no such Article, Section or clause appears in this Supplemental Indenture, in which case such references
refer to the applicable section of the Base Indenture.

 

With respect to the Notes only, the following Sections 12.16 and 12.17
are hereby added to Article 12 of the Base Indenture:

 

Section 12.16    Supplemental
Indenture Controls.

 

In case any provision of this Supplemental Indenture conflicts with
any provision of the Base Indenture, the provisions of this Supplemental Indenture shall govern and be controlling, solely with respect
to the Notes.

 

Section 12.17    Submission to
Jurisdiction.

 

The parties irrevocably submit to the non-exclusive jurisdiction of
any New York State or federal court sitting in the Borough of Manhattan, City of New York, over any suit, action or proceeding arising
out of or relating to this Supplemental Indenture. To the fullest extent permitted by applicable law, the parties irrevocably waive and
agree not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court,
any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such
court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.

 

    29

     

    

 

Article 13

 

SATISFACTION AND DISCHARGE

 

With respect to the Notes only, the following are hereby added as Sections
13.03 and 13.04 to Article 13 of the Base Indenture:

 

Section 13.03    Satisfaction
and Discharge of Supplemental Indenture

 

This Supplemental Indenture shall cease to be of further effect with
respect to a series of Notes (except as to any surviving rights of registration of transfer or exchange of Notes herein expressly provided
for), and the Trustee, on demand of and at the expense of the Issuers, shall execute proper instruments acknowledging satisfaction and
discharge of this Supplemental Indenture, when

 

(1)            either:

 

(a)            all
Notes of such series theretofore authenticated and delivered (other than (i) Notes which have been destroyed, lost or stolen and
which have been replaced or paid as provided in Section 2.07 and (ii) Notes for whose payment money has theretofore been deposited
in trust or segregated and held in trust by the Issuers and thereafter repaid to the Issuers or discharged from such trust) have been
delivered to the Trustee for cancellation; or

 

(b)            all
such Notes of such series not theretofore delivered to the Trustee for cancellation

 

(i)            have
become due and payable, or

 

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

 

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

 

and the Issuers, in the case of (i), (ii) or (iii) above,
has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose an amount sufficient to pay and discharge
the entire indebtedness on such Notes not theretofore delivered to the Trustee for cancellation, for principal (and premium, if any) and
interest to the date of such deposit (in the case of Notes which have become due and payable) or to the maturity or redemption thereof,
as the case may be;

 

(2)            the
Issuers have paid or caused to be paid all other sums payable hereunder by the Issuers with respect to such series of Notes; and

 

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

 

    30

     

    

 

Notwithstanding the satisfaction and discharge of this Supplemental
Indenture pursuant to this Article 13, the obligations of the Issuers to the Trustee under Section 7.07 of the Base Indenture,
and, if money shall have been deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section 13.03,
the obligations of the Trustee under Section 13.04 shall survive such satisfaction and discharge.

 

Section 13.04    Application
of Trust Money.

 

All money deposited with the Trustee pursuant to Section 13.03
shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Supplemental Indenture, to the payment,
either directly or through any Paying Agent as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium,
if any) and interest for whose payment such money has been deposited with the Trustee.

 

Article 14

 

COLLATERAL

 

With respect to the Notes only, Section 14.03(4) of the Base
Indenture is replaced with the following:

 

(4)            as
to any property or asset constituting Collateral that is sold or otherwise disposed of by the Issuers or any Note Guarantor, directly
or indirectly, in a transaction not prohibited by this Indenture at the time of such sale or disposition;

 

SECTION 2

 

GRANT OF SECURITY INTEREST

 

With respect to the Notes only, the following is hereby added to the
end of Section 2.1 to Exhibit F of the Base Indenture as a new paragraph:

 

The Collateral granted to the Notes shall be the
same as and no greater than the collateral granted to the Existing Secured Notes.

 

[Signatures on following page]

 

    31

     

    

 

Dated as of March 15, 2022

 

	 	CHARTER COMMUNICATIONS OPERATING, LLC, as an Issuer
	 	 
	 	By:	/s/ Scott A. Schwartz
	 	 	Name: Scott A. Schwartz
	 	 	Title: Group Vice President, Corporate Finance and Treasurer

 

	 	CHARTER COMMUNICATIONS OPERATING CAPITAL CORP., as an Issuer
	 	 
	 	By:	/s/ Scott A. Schwartz
	 	 	Name: Scott A. Schwartz
	 	 	Title: Group Vice President, Corporate Finance and Treasurer

 

	 	EACH OF THE NOTE GUARANTORS LISTED ON SCHEDULE I HERETO, as a Note Guarantor
	 	 
	 	By:	/s/ Scott A. Schwartz
	 	 	Name: Scott A. Schwartz
	 	 	Title: Group Vice President, Corporate Finance and Treasurer

 

[Signature
Page to the Supplemental Indenture]

 

    

     

    

 

	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
	 	 
	 	By:	/s/ April Bradley
	 	 	Name: April Bradley
	 	 	Title: Vice President

 

	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Collateral Agent
	 	 
	 	By:	/s/ April Bradley
	 	 	Name: April Bradley
	 	 	Title: Vice President

 

[Signature
Page to the Supplemental Indenture]

 

    

     

    

 

SCHEDULE I

 

Note Guarantors

 

CCO Holdings, LLC

Bresnan Broadband Holdings, LLC

CCO NR Holdings, LLC

Charter Advanced Services (MO), LLC

Charter Communications VI, L.L.C.

Charter Communications, LLC

Charter Distribution, LLC

Charter Leasing Holding Company, LLC

Charter Procurement Leasing, LLC

DukeNet Communications, LLC

Marcus Cable Associates, L.L.C.

Spectrum Advanced Services, LLC

Spectrum Gulf Coast, LLC

Spectrum Mid-America, LLC

Spectrum Mobile, LLC

Spectrum Mobile Equipment, LLC

Spectrum New York Metro, LLC

Spectrum NLP, LLC

Spectrum Northeast, LLC

Spectrum Oceanic, LLC

Spectrum Originals, LLC

Spectrum Originals Development, LLC

Spectrum Pacific West, LLC

Spectrum Reach, LLC

Spectrum RSN, LLC

Spectrum Security, LLC

Spectrum Southeast, LLC

Spectrum Sunshine State, LLC

Spectrum TV Essentials, LLC

Spectrum Wireless Holdings, LLC

TC Technology LLC

Time Warner Cable Enterprises LLC

Time Warner Cable, LLC

TWC Administration LLC

TWC Communications, LLC

TWC SEE Holdco LLC

 

    I-1

     

    

 

EXHIBIT A-1

 

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY
(AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT
TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE
REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT
TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT
TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN
CONSENT OF THE ISSUERS. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT
BE TRANSFERRED EXCEPT 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 OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW
YORK, NEW YORK) (“DTC”), TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.

 

    A-1

     

    

 

[Face of Note] 

CUSIP NO. [     ]

 

4.400% Senior Secured Notes due 2033

 

No. [   ]

 

$[                ]

 

Charter Communications Operating, LLC 

and

Charter Communications Operating Capital Corp.

  

promise to pay to [        ] or to registered assigns the principal amount
of [        ] DOLLARS on April 1, 2033

 

Interest Payment Dates: April 1 and October 1

 

Record Dates: March 15 and September 15

 

Subject to Restrictions set forth in this Note.

 

    A-2

     

    

 

IN WITNESS WHEREOF, the Issuers have caused this
instrument to be duly executed.

 

Dated: [                  ]

	 	CHARTER COMMUNICATIONS OPERATING,
    LLC
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	CHARTER COMMUNICATIONS OPERATING CAPITAL
CORP.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    A-3

     

    

 

This is one of the Notes referred to

in the within-mentioned Supplemental Indenture:

 

	THE BANK OF NEW YORK MELLON TRUST
    COMPANY, N.A.,	 
	as Trustee	 
	 	 
	By:	 	 
	 	Authorized Signatory	 
	 	 
	Dated: [                  ]	 

 

    A-4

     

    

 

 

[Back of Note]

 

4.400% Senior Secured Notes due 2033

 

Capitalized terms used herein shall have the meanings assigned to them
in the Supplemental Indenture referred to below unless otherwise indicated. For the purposes of this Note, “Notes” shall refer
to the 4.400% Senior Secured Notes due 2033 of the Issuers.

 

1.            INTEREST.
The Issuers promise to pay interest on the principal amount of this Note at the rate of 4.400% per annum from the Issue Date until maturity.
The Issuers will pay interest semi-annually in arrears on April 1 and October 1 of each year (each, an “Interest Payment
Date”), or if any such day is not a Business Day, on the next succeeding Business Day. Interest on the Notes will accrue from
the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that
if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the
face and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided,
further, that the first Interest Payment Date shall be October 1, 2022. The Issuers shall pay interest (including post-petition
interest in any proceeding under the Bankruptcy Code) on overdue principal and premium, if any, from time to time on demand at a rate
that is 1.00% per annum in excess of the rate then in effect; they shall pay interest (including post-petition interest in any proceeding
under the Bankruptcy Code) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand
at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months.

 

2.            METHOD
OF PAYMENT. The Issuers shall pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders at the close
of business on March 15 and September 15 next preceding the Interest Payment Date, even if such Notes are canceled after such
record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Supplemental Indenture with respect
to defaulted interest. The Notes will be payable as to principal, premium, if any, and interest at the office or agency of the Issuers
maintained for such purpose within or without the City and State of New York, or, at the option of the Issuers, payment of interest may
be made by check mailed to the Holders at their addresses set forth in the register of Holders, and provided that payment by wire
transfer of immediately available funds will be required with respect to principal of and interest and premium on all Global Notes and
all other Notes the Holders of which shall have provided wire transfer instructions to the Issuers or the Paying Agent. Such payment shall
be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private
debts.

 

3.            PAYING
AGENT AND REGISTRAR. Initially, The Bank of New York Mellon Trust Company, N.A., the Trustee under the Supplemental Indenture, will act
as Paying Agent and Registrar. The Issuers may change any Paying Agent or Registrar without notice to any Holder. The Company or any of
its Subsidiaries may act in any such capacity.

 

    A-5

     

    

 

4.            INDENTURE.
The Issuers issued the Notes under an Indenture dated as of July 23, 2015 (the “Base Indenture”), among CCO Safari
II, LLC, Charter Communications Operating, LLC, Charter Communications Operating Capital Corp. and The Bank of New York Mellon Trust Company,
N.A., as Trustee and Collateral Agent, as supplemented by the Twenty-Second Supplemental Indenture dated as of March 15, 2022 (the
 “Supplemental Indenture”), among Charter Communications Operating, LLC, Charter Communications Operating Capital Corp.,
the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as Trustee and Collateral Agent. The terms of the Notes
include those stated in the Supplemental Indenture and those made part of the Supplemental Indenture by reference to the Trust Indenture
Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to
the Supplemental Indenture and such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express
provisions of the Supplemental Indenture, the provisions of the Supplemental Indenture shall govern and be controlling.

 

5.            OPTIONAL
REDEMPTION.

 

(a)            Except
as set forth in paragraph 5(b) below, the Issuers shall not have the option to redeem the Notes pursuant to this paragraph 5 prior
to January 1, 2033 (the “Par Call Date”). On or after the Par Call Date, the Issuers may redeem the Notes, in
whole or in part, at the Issuers’ option, on at least 10 days’ but not more than 30 days’ prior notice to the Holders
thereof, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest on the
principal amount being redeemed to, but not including, the redemption date (subject to the rights of Holders of Notes on a record date
to receive the related interest payment on the related interest payment date).

 

(b)            At
any time and from time to time prior to the Par Call Date, the Issuers may redeem outstanding Notes, in whole or in part, at the Issuers’
option, at any time or from time to time, on at least 10 days’ but not more than 30 days’ prior notice to the Holders thereof,
at a redemption price equal to 100% of the principal amount thereof plus the Applicable Premium plus accrued but unpaid interest up to,
but excluding, the redemption date (subject to the rights of Holders of Notes on a record date to receive the related interest payment
on the related interest payment date).

 

6.            MANDATORY
REDEMPTION. The Issuers shall not be required to make mandatory redemption payments with respect to the Notes.

 

7.            [Reserved].

 

8.            [Reserved].

 

9.            DENOMINATIONS,
TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Supplemental Indenture. The Registrar and
the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and the Issuers may
require a Holder to pay any taxes and fees required by law or permitted by the Supplemental Indenture. The Issuers need not exchange or
register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed
in part. Also, the Issuers need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes
to be redeemed or during the period between a record date and the corresponding Interest Payment Date.

 

    A-6

     

    

 

10.            PERSONS
DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes.

 

11.            AMENDMENT,
SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Supplemental Indenture, the Intercreditor Agreement, any Note Guarantee, the
Security Documents or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal
amount of the then outstanding Notes (including, without limitation, consents obtained in connection with a purchase of, or tender offer
or exchange offer for, Notes). Subject to certain exceptions, any existing Default or compliance with any provision of the Supplemental
Indenture or the Notes may be waived, including by way of amendment, with the consent of the Holders of a majority in aggregate principal
amount of the then outstanding Notes (including, without limitation, consents obtained in connection with a purchase of, or tender offer
or exchange offer for, Notes). Without the consent of any Holder of a Note, the Issuers, the Trustee and the Collateral Agent may amend
or supplement the Supplemental Indenture, the Intercreditor Agreement, any Note Guarantee, any Security Document, or the Notes (i) to
cure any ambiguity, omission, mistake, defect or inconsistency, (ii) to provide for the assumption by a successor Person of the obligations
of the Issuers or any Note Guarantor under the Supplemental Indenture or the Security Documents, (iii) to provide for uncertificated
Notes in addition to or in place of certificated Notes (provided that the uncertificated Notes are issued in registered form for
purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of
the Code), (iv) to add Guarantees with respect to the Notes or to add additional Collateral to secure the Notes and the Note Guarantees,
(v) to add to the covenants of the Issuers or any Note Guarantor for the benefit of the Holders of the Notes or to surrender any
right or power conferred upon the Issuers or any Note Guarantor, (vi) to make any change that would provide any additional rights
or benefits to Holders or that does not adversely affect the legal rights under this Supplemental Indenture of any such Holder, (vii) to
conform the text of the Supplemental Indenture, the Notes, any Note Guarantee, the Intercreditor Agreement or any Security Document to
any provision under the heading “Description of Notes” in the Prospectus, (viii) to make any amendment to the provisions
of the Supplemental Indenture relating to the transfer and legending of Notes; provided, however, that (a) compliance
with the Indenture as so amended would not result in notes being transferred in violation of the Securities Act or any other applicable
securities law and (b) such amendment does not materially and adversely affect the rights of Holders to transfer Notes; (ix) to
release Collateral from the Lien under the Security Document when permitted or required by the Security Documents, the Supplemental Indenture
or the Intercreditor Agreement, (x) to evidence and provide for the acceptance and appointment under the Supplemental Indenture of
a successor Trustee or Collateral Agent thereunder pursuant to the requirements thereof, (xi) to release a Note Guarantor pursuant
to the terms of Article 10 of the Indenture, or (xii) to make any amendment to the provisions of the Indenture or the Notes
to eliminate the effect of any Accounting Change or in the application thereof as described in the last paragraph of the definition of
 “GAAP.”

 

    A-7

     

    

 

12.            DEFAULTS
AND REMEDIES. Each of the following is an Event of Default: (i) default in the payment of interest on the Notes when due, continued
for 30 consecutive days on the Notes, (ii) default in payment of principal of any Note when due at maturity, upon optional redemption,
upon required purchase, upon declaration of acceleration or otherwise, (iii) the failure by the Issuers or any Note Guarantor to
comply for 90 days after notice with its covenants or other agreements (other than those described in the immediately preceding clauses
(i) and (ii) above), provided that a default under this clause (iii) will not constitute an Event of Default with
respect to the Notes until the Trustee or the Holders of 30% in principal amount of the outstanding Notes notify the Issuers of the default
and the Issuers do not cure such default within the time specified after receipt of such notice, provided, further, that a notice
of default may not be given with respect to any action taken, and reported publicly or to Holders, more than two years prior to such notice
of default, (iv) (I) the Issuers or any Subsidiary Guarantor that is a Significant Subsidiary pursuant to or within the meaning
of the Bankruptcy Code: (a) commences a voluntary case, (b) consents to the entry of an order for relief against it in an involuntary
case, (c) consents to the appointment of a custodian of it or for all or substantially all of its property, or (d) makes a general
assignment for the benefit of its creditors; or (II) a court of competent jurisdiction enters an order or decree under the Bankruptcy
Code that (a) is for relief against the Issuers or a Subsidiary Guarantor that is a Significant Subsidiary in an involuntary case;
(b) appoints a custodian of the Issuers or a Subsidiary Guarantor that is a Significant Subsidiary or for all or substantially all
of the property of the Issuers or a Subsidiary Guarantor that is a Significant Subsidiary; or (c) orders the liquidation of the Issuers
or a Subsidiary Guarantor that is a Significant Subsidiary, and the order or decree remains unstayed and in effect for 60 consecutive
days; (v) any Note Guarantee of any Subsidiary Guarantor that is a Significant Subsidiary (or Note Guarantees of any group of Subsidiary
Guarantors that, taken together, would constitute a Significant Subsidiary) ceases to be in full force and effect (other than in accordance
with the terms of such Note Guarantee and/or this Indenture) or any Note Guarantor denies or disaffirms its obligations under its Note
Guarantee; and (vi) a material portion of the Collateral ceases to be subject to the Liens of the Security Documents (other than
in accordance with the terms of this Indenture and the Security Documents) or any Issuer or Subsidiary Guarantor denies or disaffirms
its obligations under the Security Documents to which it is party.

 

If an Event of Default arising from (vi) above with respect to
CCO occurs and is continuing the principal of and accrued but unpaid interest on all outstanding Notes shall ipso facto become due and
payable without any declaration or other act on the part of the Trustee or any Holders of the Notes.

 

If any other Event of Default with respect to the Notes occurs and
is continuing, the Trustee by notice to the Issuers or the Holders of at least 30% in principal amount of the then outstanding Notes by
notice to the Issuers and the Trustee may declare the Notes to be due and payable immediately. The Holders of a majority in aggregate
principal amount of the Notes then outstanding by written notice to the Trustee may on behalf of all of the Holders rescind an acceleration
and its consequences with respect to such Notes if the rescission would not conflict with any judgment or decree and if all existing Events
of Default (except non-payment of principal, interest or premium that has become due solely because of the acceleration) have been cured
or waived. Any time period in the Indenture to cure any actual or alleged default or Event of Default with respect to the Notes may be
extended or stayed by a court of competent jurisdiction to the extent such actual or alleged default or Event of Default is the subject
of litigation.

 

    A-8

     

    

 

Any Noteholder Direction provided by any one or more Directing Holders
must be accompanied by a Position Representation, which representation, in the case of a Default Direction shall be deemed repeated at
all times until the resulting Event of Default is cured or otherwise ceases to exist or the Notes are accelerated. In addition, each Directing
Holder must, at the time of providing a Noteholder Direction, make a Verification Covenant. In any case in which the Holder is DTC or
its nominee, any Position Representation or Verification Covenant required hereunder shall be provided by the beneficial owner of the
Notes in lieu of DTC or its nominee, and DTC shall be entitled to rely on such Position Representation and Verification Covenant in delivering
its direction to the Trustee.

 

If, following the delivery of a Noteholder Direction, but prior to
acceleration of the Notes, the Issuers determine in good faith that there is a reasonable basis to believe a Directing Holder was, at
any relevant time, in breach of its Position Representation and provide to the Trustee evidence that the Issuers have initiated litigation
in a court of competent jurisdiction seeking a determination that such Directing Holder was, at such time, in breach of its Position Representation,
and seeking to invalidate any Event of Default that resulted from the applicable Noteholder Direction, the cure period with respect to
such Default shall be automatically stayed and the cure period with respect to such Event of Default shall be automatically reinstituted
and any remedy stayed pending a final and non-appealable determination of a court of competent jurisdiction on such matter.

 

If, following the delivery of a Noteholder Direction, but prior to
acceleration of the Notes, the Issuers provide to the Trustee an Officers’ Certificate stating that a Directing Holder failed to
satisfy its Verification Covenant, the cure period with respect to such Default shall be automatically stayed and the cure period with
respect to any Event of Default that resulted from the applicable Noteholder Direction shall be automatically reinstituted and any remedy
stayed until such time as the Issuers provide the Trustee with an Officers’ Certificate that the Verification Covenant has been
satisfied; provided that the Issuers shall promptly deliver such Officers’ Certificate to the Trustee upon becoming aware
that the Verification Covenant has been satisfied. Any breach of the Position Representation (as evidenced by the delivery to the Trustee
of the Officers’ Certificate stating that a Directing Holder failed to satisfy its Verification Covenant) shall result in such Holder’s
participation in such Noteholder Direction being disregarded; and if, without the participation of such Holder, the percentage of Notes
held by the remaining Holders that provided such Noteholder Direction would have been insufficient to validly provide such Noteholder
Direction, such Noteholder Direction shall be void ab initio, with the effect that such Event of Default shall be deemed never to have
occurred, acceleration voided and the Trustee shall be deemed not to have received such Noteholder Direction or any notice of such Default
or Event of Default.

 

    A-9

     

    

 

Notwithstanding anything in the preceding two paragraphs to the contrary,
any Noteholder Direction delivered to the Trustee during the pendency of an Event of Default as the result of a bankruptcy or similar
direction shall not require compliance with the foregoing paragraphs.

 

13.            TRUSTEE
DEALINGS WITH ISSUERS. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services
for any Issuer or its Affiliates, and may otherwise deal with any Issuer or its Affiliates, as if it were not the Trustee.

 

14.            NO
RECOURSE AGAINST OTHERS. A director, officer, employee, incorporator, member or stockholder of the Issuers, as such, shall not have any
liability for any obligations of the Issuers under the Notes or the Supplemental Indenture or for any claim based on, in respect of, or
by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and
release are part of the consideration for the issuance of the Notes.

 

15.            GOVERNING
LAW. THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS NOTE AND THE SUPPLEMENTAL INDENTURE WITHOUT
GIVING EFFECT TO THE APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY. EACH OF THE PARTIES HERETO AND THE HOLDERS AGREE TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF
NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE.

 

16.            AUTHENTICATION.
This Note shall not be valid until authenticated by the manual or electronic signature of the Trustee or an authenticating agent.

 

17.            ABBREVIATIONS.
Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants
by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A
(= Uniform Gifts to Minors Act).

 

18.            CUSIP
NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuers have caused
CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No
representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and
reliance may be placed only on the other identification numbers placed thereon.

 

    A-10

     

    

 

The Issuers will furnish to any Holder upon written request and without
charge a copy of the Supplemental Indenture and/or the Base Indenture, as applicable. Requests may be made to the Issuers:

 

c/o Charter Communications, Inc.

400 Washington Boulevard

Stamford, Connecticut 06902

Attention: Corporate Secretary

 

    A-11

     

    

 

ASSIGNMENT FORM

 

To assign this Note, fill in the form below:

 

	(i) or (we) assign and transfer this Note to:	 

 

(Insert assignee’s legal name)

 

 

(Insert assignee’s soc. sec. or tax I.D. no.)

 

 

 

 

 

 

 

 

       (Print or type assignee’s name, address and zip code)

 

and irrevocably appoint                                                                                                                
to transfer this Note on the books of the Issuers. The agent may substitute another to act for him.

 

	Date:	 	 

 

Your Signature:                                                                                                                                                                                                        

(Sign exactly as your name appears on the face of this Note)

 

Signature Guarantee*:                                                                                                                                                                                             

 

* Participant in a recognized Signature Guarantee Medallion Program
(or other signature guarantor acceptable to the Trustee).

 

    A-12

     

    

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL
NOTE*

 

The following exchanges of a part of this Global
Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note
for an interest in this Global Note, have been made:

 

	
    Date of
Exchange
	
    Amount
of

decrease in

Principal Amount

 of this Global

 Note
	
    Amount
of

increase in

Principal Amount

 of this Global

 Note
	
    Principal
Amount

 of this Global

 Note following

 such decrease (or

 increase) 
	
    Signature
of

authorized officer

 of Trustee or

 Note Custodian 

	 	 	 	 	 

 

    A-13

     

    

 

 

EXHIBIT A-2

 

THIS GLOBAL NOTE IS HELD BY THE
DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS
HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS
HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN
WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED
TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED
TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUERS. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN
PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT 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 OR BY THE DEPOSITARY OR ANY
SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE ISSUERS
OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN.

 

    A-1 

     

    

 

[Face of Note]

CUSIP NO. [   ]

 

5.250% Senior Secured Notes due 2053

 

No. [   ]

 

$[                   ]

 

Charter Communications Operating, LLC

and

Charter Communications Operating Capital Corp.

  

promise to pay to [       ] or to registered
assigns the principal amount of [       ] DOLLARS on April 1, 2053

 

Interest Payment Dates: April 1 and October 1

 

Record Dates: March 15 and September 15

 

Subject to Restrictions set forth in this Note.

 

    A-2 

     

    

 

IN WITNESS WHEREOF, the Issuers have caused this
instrument to be duly executed.

 

Dated: [          ]

 

	 	CHARTER
COMMUNICATIONS OPERATING, LLC

	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	 	 
	 	CHARTER
COMMUNICATIONS OPERATING CAPITAL CORP.

	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    A-3 

     

    

 

This is one of the Notes referred to

in the within-mentioned Supplemental Indenture:

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Trustee

 

	By:	 	 
	 	Authorized Signatory	 

 

Dated: [          ]

 

    A-4 

     

    

 

[Back of Note]

 

5.250% Senior Secured Notes due 2053

 

Capitalized terms used herein shall have the meanings assigned to them
in the Supplemental Indenture referred to below unless otherwise indicated. For the purposes of this Note, “Notes” shall refer
to the 5.250% Senior Secured Notes due 2053 of the Issuers.

 

1.            INTEREST.
The Issuers promise to pay interest on the principal amount of this Note at the rate of 5.250% per annum from the Issue Date until maturity.
The Issuers will pay interest semi-annually in arrears on April 1 and October 1 of each year (each, an “Interest Payment
Date”), or if any such day is not a Business Day, on the next succeeding Business Day. Interest on the Notes will accrue from
the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that
if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the
face and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided,
further, that the first Interest Payment Date shall be October 1, 2022. The Issuers shall pay interest (including post-petition
interest in any proceeding under the Bankruptcy Code) on overdue principal and premium, if any, from time to time on demand at a rate
that is 1.00% per annum in excess of the rate then in effect; they shall pay interest (including post-petition interest in any proceeding
under the Bankruptcy Code) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand
at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months.

 

2.            METHOD
OF PAYMENT. The Issuers shall pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders at the close
of business on March 15 and September 15 next preceding the Interest Payment Date, even if such Notes are canceled after such
record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Supplemental Indenture with respect
to defaulted interest. The Notes will be payable as to principal, premium, if any, and interest at the office or agency of the Issuers
maintained for such purpose within or without the City and State of New York, or, at the option of the Issuers, payment of interest may
be made by check mailed to the Holders at their addresses set forth in the register of Holders, and provided that payment by wire
transfer of immediately available funds will be required with respect to principal of and interest and premium on all Global Notes and
all other Notes the Holders of which shall have provided wire transfer instructions to the Issuers or the Paying Agent. Such payment shall
be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private
debts.

 

3.            PAYING
AGENT AND REGISTRAR. Initially, The Bank of New York Mellon Trust Company, N.A., the Trustee under the Supplemental Indenture, will act
as Paying Agent and Registrar. The Issuers may change any Paying Agent or Registrar without notice to any Holder. The Company or any of
its Subsidiaries may act in any such capacity.

 

    A-5 

     

    

 

4.            INDENTURE.
The Issuers issued the Notes under an Indenture dated as of July 23, 2015 (the “Base Indenture”), among CCO Safari
II, LLC, Charter Communications Operating, LLC, Charter Communications Operating Capital Corp. and The Bank of New York Mellon Trust Company,
N.A., as Trustee and Collateral Agent, as supplemented by the Twenty-Second Supplemental Indenture dated as of March 15, 2022 (the
 “Supplemental Indenture”), among Charter Communications Operating, LLC, Charter Communications Operating Capital Corp.,
the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as Trustee and Collateral Agent. The terms of the Notes
include those stated in the Supplemental Indenture and those made part of the Supplemental Indenture by reference to the Trust Indenture
Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to
the Supplemental Indenture and such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express
provisions of the Supplemental Indenture, the provisions of the Supplemental Indenture shall govern and be controlling.

 

5.            OPTIONAL
REDEMPTION.

 

(a)            Except
as set forth in paragraph 5(b) below, the Issuers shall not have the option to redeem the Notes pursuant to this paragraph 5 prior
to October 1, 2052 (the “Par Call Date”). On or after the Par Call Date, the Issuers may redeem the Notes, in
whole or in part, at the Issuers’ option, on at least 10 days’ but not more than 30 days’ prior notice to the Holders
thereof, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest on the
principal amount being redeemed to, but not including, the redemption date (subject to the rights of Holders of Notes on a record date
to receive the related interest payment on the related interest payment date).

 

(b)            At
any time and from time to time prior to the Par Call Date, the Issuers may redeem outstanding Notes, in whole or in part, at the Issuers’
option, at any time or from time to time, on at least 10 days’ but not more than 30 days’ prior notice to the Holders thereof,
at a redemption price equal to 100% of the principal amount thereof plus the Applicable Premium plus accrued but unpaid interest up to,
but excluding, the redemption date (subject to the rights of Holders of Notes on a record date to receive the related interest payment
on the related interest payment date).

 

6.            MANDATORY
REDEMPTION. The Issuers shall not be required to make mandatory redemption payments with respect to the Notes.

 

7.            [Reserved].

 

8.            [Reserved].

 

9.            DENOMINATIONS,
TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Supplemental Indenture. The Registrar and
the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and the Issuers may
require a Holder to pay any taxes and fees required by law or permitted by the Supplemental Indenture. The Issuers need not exchange or
register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed
in part. Also, the Issuers need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes
to be redeemed or during the period between a record date and the corresponding Interest Payment Date.

 

    A-6 

     

    

 

10.            PERSONS
DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes.

 

11.            AMENDMENT,
SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Supplemental Indenture, the Intercreditor Agreement, any Note Guarantee,
the Security Documents or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in
aggregate principal amount of the then outstanding Notes (including, without limitation, consents obtained in connection with a
purchase of, or tender offer or exchange offer for, Notes). Subject to certain exceptions, any existing Default or compliance with
any provision of the Supplemental Indenture or the Notes may be waived, including by way of amendment, with the consent of the
Holders of a majority in aggregate principal amount of the then outstanding Notes (including, without limitation, consents obtained
in connection with a purchase of, or tender offer or exchange offer for, Notes). Without the consent of any Holder of a Note, the
Issuers, the Trustee and the Collateral Agent may amend or supplement the Supplemental Indenture, the Intercreditor Agreement, any
Note Guarantee, any Security Document, or the Notes (i) to cure any ambiguity, omission, mistake, defect or inconsistency,
(ii) to provide for the assumption by a successor Person of the obligations of the Issuers or any Note Guarantor under the
Supplemental Indenture or the Security Documents, (iii) to provide for uncertificated Notes in addition to or in place of
certificated Notes (provided that the uncertificated Notes are issued in registered form for purposes of
Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described in
Section 163(f)(2)(B) of the Code), (iv) to add Guarantees with respect to the Notes or to add additional Collateral
to secure the Notes and the Note Guarantees, (v) to add to the covenants of the Issuers or any Note Guarantor for the benefit
of the Holders of the Notes or to surrender any right or power conferred upon the Issuers or any Note Guarantor, (vi) to make
any change that would provide any additional rights or benefits to Holders or that does not adversely affect the legal rights under
this Supplemental Indenture of any such Holder, (vii) to conform the text of the Supplemental Indenture, the Notes, any Note
Guarantee, the Intercreditor Agreement or any Security Document to any provision under the heading “Description of
Notes” in the Prospectus, (viii) to make any amendment to the provisions of the Supplemental Indenture relating to the
transfer and legending of Notes; provided, however, that (a) compliance with the Indenture as so amended would
not result in notes being transferred in violation of the Securities Act or any other applicable securities law and (b) such
amendment does not materially and adversely affect the rights of Holders to transfer Notes; (ix) to release Collateral from the
Lien under the Security Document when permitted or required by the Security Documents, the Supplemental Indenture or the
Intercreditor Agreement, (x) to evidence and provide for the acceptance and appointment under the Supplemental Indenture of a
successor Trustee or Collateral Agent thereunder pursuant to the requirements thereof, (xi) to release a Note Guarantor
pursuant to the terms of Article 10 of the Indenture, or (xii) to make any amendment to the provisions of the Indenture or
the Notes to eliminate the effect of any Accounting Change or in the application thereof as described in the last paragraph of the
definition of “GAAP.”

 

    A-7 

     

    

 

12.            DEFAULTS
AND REMEDIES. Each of the following is an Event of Default: (i) default in the payment of interest on the Notes when due, continued
for 30 consecutive days on the Notes, (ii) default in payment of principal of any Note when due at maturity, upon optional redemption,
upon required purchase, upon declaration of acceleration or otherwise, (iii) the failure by the Issuers or any Note Guarantor to
comply for 90 days after notice with its covenants or other agreements (other than those described in the immediately preceding clauses
(i) and (ii) above), provided that a default under this clause (iii) will not constitute an Event of Default with
respect to the Notes until the Trustee or the Holders of 30% in principal amount of the outstanding Notes notify the Issuers of the default
and the Issuers do not cure such default within the time specified after receipt of such notice, provided, further, that a notice
of default may not be given with respect to any action taken, and reported publicly or to Holders, more than two years prior to such notice
of default, (iv) (I) the Issuers or any Subsidiary Guarantor that is a Significant Subsidiary pursuant to or within the meaning
of the Bankruptcy Code: (a) commences a voluntary case, (b) consents to the entry of an order for relief against it in an involuntary
case, (c) consents to the appointment of a custodian of it or for all or substantially all of its property, or (d) makes a general
assignment for the benefit of its creditors; or (II) a court of competent jurisdiction enters an order or decree under the Bankruptcy
Code that (a) is for relief against the Issuers or a Subsidiary Guarantor that is a Significant Subsidiary in an involuntary case;
(b) appoints a custodian of the Issuers or a Subsidiary Guarantor that is a Significant Subsidiary or for all or substantially all
of the property of the Issuers or a Subsidiary Guarantor that is a Significant Subsidiary; or (c) orders the liquidation of the Issuers
or a Subsidiary Guarantor that is a Significant Subsidiary, and the order or decree remains unstayed and in effect for 60 consecutive
days; (v) any Note Guarantee of any Subsidiary Guarantor that is a Significant Subsidiary (or Note Guarantees of any group of Subsidiary
Guarantors that, taken together, would constitute a Significant Subsidiary) ceases to be in full force and effect (other than in accordance
with the terms of such Note Guarantee and/or this Indenture) or any Note Guarantor denies or disaffirms its obligations under its Note
Guarantee; and (vi) a material portion of the Collateral ceases to be subject to the Liens of the Security Documents (other than
in accordance with the terms of this Indenture and the Security Documents) or any Issuer or Subsidiary Guarantor denies or disaffirms
its obligations under the Security Documents to which it is party.

 

If an Event of Default arising from (vi) above with respect to
CCO occurs and is continuing the principal of and accrued but unpaid interest on all outstanding Notes shall ipso facto become due and
payable without any declaration or other act on the part of the Trustee or any Holders of the Notes.

 

If any other Event of Default with respect to the Notes occurs and
is continuing, the Trustee by notice to the Issuers or the Holders of at least 30% in principal amount of the then outstanding Notes by
notice to the Issuers and the Trustee may declare the Notes to be due and payable immediately. The Holders of a majority in aggregate
principal amount of the Notes then outstanding by written notice to the Trustee may on behalf of all of the Holders rescind an acceleration
and its consequences with respect to such Notes if the rescission would not conflict with any judgment or decree and if all existing Events
of Default (except non-payment of principal, interest or premium that has become due solely because of the acceleration) have been cured
or waived. Any time period in the Indenture to cure any actual or alleged default or Event of Default with respect to the Notes may be
extended or stayed by a court of competent jurisdiction to the extent such actual or alleged default or Event of Default is the subject
of litigation.

 

    A-8 

     

    

 

Any Noteholder Direction provided by any one or more Directing Holders
must be accompanied by a Position Representation, which representation, in the case of a Default Direction shall be deemed repeated at
all times until the resulting Event of Default is cured or otherwise ceases to exist or the Notes are accelerated. In addition, each Directing
Holder must, at the time of providing a Noteholder Direction, make a Verification Covenant. In any case in which the Holder is DTC or
its nominee, any Position Representation or Verification Covenant required hereunder shall be provided by the beneficial owner of the
Notes in lieu of DTC or its nominee, and DTC shall be entitled to rely on such Position Representation and Verification Covenant in delivering
its direction to the Trustee.

 

If, following the delivery of a Noteholder Direction, but prior to
acceleration of the Notes, the Issuers determine in good faith that there is a reasonable basis to believe a Directing Holder was, at
any relevant time, in breach of its Position Representation and provide to the Trustee evidence that the Issuers have initiated litigation
in a court of competent jurisdiction seeking a determination that such Directing Holder was, at such time, in breach of its Position Representation,
and seeking to invalidate any Event of Default that resulted from the applicable Noteholder Direction, the cure period with respect to
such Default shall be automatically stayed and the cure period with respect to such Event of Default shall be automatically reinstituted
and any remedy stayed pending a final and non-appealable determination of a court of competent jurisdiction on such matter.

 

If, following the delivery of a Noteholder Direction, but prior to
acceleration of the Notes, the Issuers provide to the Trustee an Officers’ Certificate stating that a Directing Holder failed to
satisfy its Verification Covenant, the cure period with respect to such Default shall be automatically stayed and the cure period with
respect to any Event of Default that resulted from the applicable Noteholder Direction shall be automatically reinstituted and any remedy
stayed until such time as the Issuers provide the Trustee with an Officers’ Certificate that the Verification Covenant has been
satisfied; provided that the Issuers shall promptly deliver such Officers’ Certificate to the Trustee upon becoming aware
that the Verification Covenant has been satisfied. Any breach of the Position Representation (as evidenced by the delivery to the Trustee
of the Officers’ Certificate stating that a Directing Holder failed to satisfy its Verification Covenant) shall result in such Holder’s
participation in such Noteholder Direction being disregarded; and if, without the participation of such Holder, the percentage of Notes
held by the remaining Holders that provided such Noteholder Direction would have been insufficient to validly provide such Noteholder
Direction, such Noteholder Direction shall be void ab initio, with the effect that such Event of Default shall be deemed never to have
occurred, acceleration voided and the Trustee shall be deemed not to have received such Noteholder Direction or any notice of such Default
or Event of Default.

 

    A-9 

     

    

 

Notwithstanding anything in the preceding two paragraphs to the contrary,
any Noteholder Direction delivered to the Trustee during the pendency of an Event of Default as the result of a bankruptcy or similar
direction shall not require compliance with the foregoing paragraphs.

 

13.            TRUSTEE
DEALINGS WITH ISSUERS. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services
for any Issuer or its Affiliates, and may otherwise deal with any Issuer or its Affiliates, as if it were not the Trustee.

 

14.            NO
RECOURSE AGAINST OTHERS. A director, officer, employee, incorporator, member or stockholder of the Issuers, as such, shall not have any
liability for any obligations of the Issuers under the Notes or the Supplemental Indenture or for any claim based on, in respect of, or
by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and
release are part of the consideration for the issuance of the Notes.

 

15.            GOVERNING
LAW. THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS NOTE AND THE SUPPLEMENTAL INDENTURE WITHOUT
GIVING EFFECT TO THE APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY. EACH OF THE PARTIES HERETO AND THE HOLDERS AGREE TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF
NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE.

 

16.            AUTHENTICATION.
This Note shall not be valid until authenticated by the manual or electronic signature of the Trustee or an authenticating agent.

 

17.            ABBREVIATIONS.
Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants
by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A
(= Uniform Gifts to Minors Act).

 

18.            CUSIP
NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuers have caused
CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No
representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and
reliance may be placed only on the other identification numbers placed thereon.

 

    A-10 

     

    

 

The Issuers will furnish to any Holder upon written request and without
charge a copy of the Supplemental Indenture and/or the Base Indenture, as applicable. Requests may be made to the Issuers:

 

c/o Charter Communications, Inc.

400 Washington Boulevard

Stamford, Connecticut 06902

Attention: Corporate Secretary

 

    A-11 

     

    

 

ASSIGNMENT FORM

 

To assign this Note, fill in the form below:

 

	(i) or (we) assign and transfer this Note to: 	 

 

(Insert assignee’s legal name)

 

	 
	(Insert assignee’s soc. sec. or tax I.D. no.)
	 
	 
	 
	 
	 
	 
	 
	 
	(Print or type assignee’s name, address and zip code)

 

and irrevocably appoint ________________________________________________
to transfer this Note on the books of the Issuers. The agent may substitute another to act for him.

 

	Date:	 	 

 

Your Signature: _____________________________________________________________________________________

(Sign exactly as your name appears on the face of this Note)

 

Signature Guarantee*:________________________________________________________________________________

 

* Participant in a recognized Signature Guarantee Medallion Program
(or other signature guarantor acceptable to the Trustee).

 

    A-12 

     

    

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL
NOTE*

 

The following exchanges of a part of this Global
Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note
for an interest in this Global Note, have been made:

 

	
    Date of
Exchange
	
    Amount
of

decrease in

Principal Amount 

of this Global 

Note
	
    Amount
of

increase in

Principal Amount 

of this Global 

Note 
	
    Principal
Amount 

of this Global 

Note following 

such decrease (or 

increase) 
	
    Signature
of

authorized officer 

of Trustee or 

Note Custodian 

 

    A-13 

     

    

 

 

 

EXHIBIT A-3

 

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY
(AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT
TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE
REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT
TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT
TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN
CONSENT OF THE ISSUERS. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT
BE TRANSFERRED EXCEPT 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 OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW
YORK, NEW YORK) (“DTC”), TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.

 

    A-1 

     

    

 

[Face of Note]

CUSIP NO. [   ]

 

5.500% Senior Secured Notes due 2063

 

No. [   ]

 

$[                ]

 

Charter Communications Operating, LLC

and

Charter Communications Operating Capital Corp.

 

promise to pay to [     ] or to registered assigns the principal amount
of [      ] DOLLARS on April 1, 2063

 

Interest Payment Dates: April 1 and October 1

 

Record Dates: March 15 and September 15

 

Subject to Restrictions set forth in this Note.

 

    A-2 

     

    

 

IN WITNESS WHEREOF, the Issuers have caused this
instrument to be duly executed.

 

Dated: [                  ]

 

	 	CHARTER COMMUNICATIONS OPERATING, LLC
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	CHARTER COMMUNICATIONS OPERATING CAPITAL
CORP.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	By:	 
	 	 	Name:
	 	 	Title:

 

    A-3 

     

    

 

This is one of the Notes referred to 

in the within-mentioned Supplemental Indenture:

 

	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,	 
	as Trustee	 
	 	 

	By:	 	 
	 	Authorized Signatory	 

 

Dated: [                   ]

 

    A-4 

     

    

 

[Back of Note]

 

5.500% Senior Secured Notes due 2063

 

Capitalized terms used herein shall have the meanings assigned to them
in the Supplemental Indenture referred to below unless otherwise indicated. For the purposes of this Note, “Notes” shall refer
to the 5.500% Senior Secured Notes due 2063 of the Issuers.

 

1.            INTEREST.
The Issuers promise to pay interest on the principal amount of this Note at the rate of 5.500% per annum from the Issue Date until maturity.
The Issuers will pay interest semi-annually in arrears on April 1 and October 1 of each year (each, an “Interest Payment
Date”), or if any such day is not a Business Day, on the next succeeding Business Day. Interest on the Notes will accrue from
the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that
if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the
face and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided,
further, that the first Interest Payment Date shall be October 1, 2022. The Issuers shall pay interest (including post-petition
interest in any proceeding under the Bankruptcy Code) on overdue principal and premium, if any, from time to time on demand at a rate
that is 1.00% per annum in excess of the rate then in effect; they shall pay interest (including post-petition interest in any proceeding
under the Bankruptcy Code) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand
at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months.

 

2.            METHOD
OF PAYMENT. The Issuers shall pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders at the close
of business on March 15 and September 15 next preceding the Interest Payment Date, even if such Notes are canceled after such
record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Supplemental Indenture with respect
to defaulted interest. The Notes will be payable as to principal, premium, if any, and interest at the office or agency of the Issuers
maintained for such purpose within or without the City and State of New York, or, at the option of the Issuers, payment of interest may
be made by check mailed to the Holders at their addresses set forth in the register of Holders, and provided that payment by wire
transfer of immediately available funds will be required with respect to principal of and interest and premium on all Global Notes and
all other Notes the Holders of which shall have provided wire transfer instructions to the Issuers or the Paying Agent. Such payment shall
be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private
debts.

 

3.            PAYING
AGENT AND REGISTRAR. Initially, The Bank of New York Mellon Trust Company, N.A., the Trustee under the Supplemental Indenture, will act
as Paying Agent and Registrar. The Issuers may change any Paying Agent or Registrar without notice to any Holder. The Company or any of
its Subsidiaries may act in any such capacity.

 

    A-5 

     

    

 

4.            INDENTURE.
The Issuers issued the Notes under an Indenture dated as of July 23, 2015 (the “Base Indenture”), among CCO Safari
II, LLC, Charter Communications Operating, LLC, Charter Communications Operating Capital Corp. and The Bank of New York Mellon Trust Company,
N.A., as Trustee and Collateral Agent, as supplemented by the Twenty-Second Supplemental Indenture dated as of March 15, 2022 (the
 “Supplemental Indenture”), among Charter Communications Operating, LLC, Charter Communications Operating Capital Corp.,
the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as Trustee and Collateral Agent. The terms of the Notes
include those stated in the Supplemental Indenture and those made part of the Supplemental Indenture by reference to the Trust Indenture
Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to
the Supplemental Indenture and such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express
provisions of the Supplemental Indenture, the provisions of the Supplemental Indenture shall govern and be controlling.

 

5.            OPTIONAL
REDEMPTION.

 

(a)            Except
as set forth in paragraph 5(b) below, the Issuers shall not have the option to redeem the Notes pursuant to this paragraph 5 prior
to October 1, 2062 (the “Par Call Date”). On or after the Par Call Date, the Issuers may redeem the Notes, in
whole or in part, at the Issuers’ option, on at least 10 days’ but not more than 30 days’ prior notice to the Holders
thereof, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest on the
principal amount being redeemed to, but not including, the redemption date (subject to the rights of Holders of Notes on a record date
to receive the related interest payment on the related interest payment date).

 

(b)            At
any time and from time to time prior to the Par Call Date, the Issuers may redeem outstanding Notes, in whole or in part, at the Issuers’
option, at any time or from time to time, on at least 10 days’ but not more than 30 days’ prior notice to the Holders thereof,
at a redemption price equal to 100% of the principal amount thereof plus the Applicable Premium plus accrued but unpaid interest up to,
but excluding, the redemption date (subject to the rights of Holders of Notes on a record date to receive the related interest payment
on the related interest payment date).

 

6.            MANDATORY
REDEMPTION. The Issuers shall not be required to make mandatory redemption payments with respect to the Notes.

 

7.            [Reserved].

 

8.            [Reserved].

 

9.            DENOMINATIONS,
TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Supplemental Indenture. The Registrar and
the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and the Issuers may
require a Holder to pay any taxes and fees required by law or permitted by the Supplemental Indenture. The Issuers need not exchange or
register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed
in part. Also, the Issuers need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes
to be redeemed or during the period between a record date and the corresponding Interest Payment Date.

 

    A-6 

     

    

 

10.            PERSONS
DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes.

 

11.            AMENDMENT,
SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Supplemental Indenture, the Intercreditor Agreement, any Note Guarantee, the
Security Documents or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal
amount of the then outstanding Notes (including, without limitation, consents obtained in connection with a purchase of, or tender offer
or exchange offer for, Notes). Subject to certain exceptions, any existing Default or compliance with any provision of the Supplemental
Indenture or the Notes may be waived, including by way of amendment, with the consent of the Holders of a majority in aggregate principal
amount of the then outstanding Notes (including, without limitation, consents obtained in connection with a purchase of, or tender offer
or exchange offer for, Notes). Without the consent of any Holder of a Note, the Issuers, the Trustee and the Collateral Agent may amend
or supplement the Supplemental Indenture, the Intercreditor Agreement, any Note Guarantee, any Security Document, or the Notes (i) to
cure any ambiguity, omission, mistake, defect or inconsistency, (ii) to provide for the assumption by a successor Person of the obligations
of the Issuers or any Note Guarantor under the Supplemental Indenture or the Security Documents, (iii) to provide for uncertificated
Notes in addition to or in place of certificated Notes (provided that the uncertificated Notes are issued in registered form for
purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of
the Code), (iv) to add Guarantees with respect to the Notes or to add additional Collateral to secure the Notes and the Note Guarantees,
(v) to add to the covenants of the Issuers or any Note Guarantor for the benefit of the Holders of the Notes or to surrender any
right or power conferred upon the Issuers or any Note Guarantor, (vi) to make any change that would provide any additional rights
or benefits to Holders or that does not adversely affect the legal rights under this Supplemental Indenture of any such Holder, (vii) to
conform the text of the Supplemental Indenture, the Notes, any Note Guarantee, the Intercreditor Agreement or any Security Document to
any provision under the heading “Description of Notes” in the Prospectus, (viii) to make any amendment to the provisions
of the Supplemental Indenture relating to the transfer and legending of Notes; provided, however, that (a) compliance
with the Indenture as so amended would not result in notes being transferred in violation of the Securities Act or any other applicable
securities law and (b) such amendment does not materially and adversely affect the rights of Holders to transfer Notes; (ix) to
release Collateral from the Lien under the Security Document when permitted or required by the Security Documents, the Supplemental Indenture
or the Intercreditor Agreement, (x) to evidence and provide for the acceptance and appointment under the Supplemental Indenture of
a successor Trustee or Collateral Agent thereunder pursuant to the requirements thereof, (xi) to release a Note Guarantor pursuant
to the terms of Article 10 of the Indenture, or (xii) to make any amendment to the provisions of the Indenture or the Notes
to eliminate the effect of any Accounting Change or in the application thereof as described in the last paragraph of the definition of
 “GAAP.”

 

    A-7 

     

    

 

12.            DEFAULTS
AND REMEDIES. Each of the following is an Event of Default: (i) default in the payment of interest on the Notes when due,
continued for 30 consecutive days on the Notes, (ii) default in payment of principal of any Note when due at maturity, upon
optional redemption, upon required purchase, upon declaration of acceleration or otherwise, (iii) the failure by the Issuers or
any Note Guarantor to comply for 90 days after notice with its covenants or other agreements (other than those described in the
immediately preceding clauses (i) and (ii) above), provided that a default under this clause (iii) will not
constitute an Event of Default with respect to the Notes until the Trustee or the Holders of 30% in principal amount of the
outstanding Notes notify the Issuers of the default and the Issuers do not cure such default within the time specified after receipt
of such notice, provided, further, that a notice of default may not be given with respect to any action taken, and reported
publicly or to Holders, more than two years prior to such notice of default, (iv) (I) the Issuers or any Subsidiary
Guarantor that is a Significant Subsidiary pursuant to or within the meaning of the Bankruptcy Code: (a) commences a voluntary
case, (b) consents to the entry of an order for relief against it in an involuntary case, (c) consents to the appointment
of a custodian of it or for all or substantially all of its property, or (d) makes a general assignment for the benefit of its
creditors; or (II) a court of competent jurisdiction enters an order or decree under the Bankruptcy Code that (a) is for
relief against the Issuers or a Subsidiary Guarantor that is a Significant Subsidiary in an involuntary case; (b) appoints a
custodian of the Issuers or a Subsidiary Guarantor that is a Significant Subsidiary or for all or substantially all of the property
of the Issuers or a Subsidiary Guarantor that is a Significant Subsidiary; or (c) orders the liquidation of the Issuers or a
Subsidiary Guarantor that is a Significant Subsidiary, and the order or decree remains unstayed and in effect for 60 consecutive
days; (v) any Note Guarantee of any Subsidiary Guarantor that is a Significant Subsidiary (or Note Guarantees of any group of
Subsidiary Guarantors that, taken together, would constitute a Significant Subsidiary) ceases to be in full force and effect (other
than in accordance with the terms of such Note Guarantee and/or this Indenture) or any Note Guarantor denies or disaffirms its
obligations under its Note Guarantee; and (vi) a material portion of the Collateral ceases to be subject to the Liens of the
Security Documents (other than in accordance with the terms of this Indenture and the Security Documents) or any Issuer or
Subsidiary Guarantor denies or disaffirms its obligations under the Security Documents to which it is party.

 

If an Event of Default arising from (vi) above with respect to
CCO occurs and is continuing the principal of and accrued but unpaid interest on all outstanding Notes shall ipso facto become due and
payable without any declaration or other act on the part of the Trustee or any Holders of the Notes.

 

If any other Event of Default with respect to the Notes occurs and
is continuing, the Trustee by notice to the Issuers or the Holders of at least 30% in principal amount of the then outstanding Notes by
notice to the Issuers and the Trustee may declare the Notes to be due and payable immediately. The Holders of a majority in aggregate
principal amount of the Notes then outstanding by written notice to the Trustee may on behalf of all of the Holders rescind an acceleration
and its consequences with respect to such Notes if the rescission would not conflict with any judgment or decree and if all existing Events
of Default (except non-payment of principal, interest or premium that has become due solely because of the acceleration) have been cured
or waived. Any time period in the Indenture to cure any actual or alleged default or Event of Default with respect to the Notes may be
extended or stayed by a court of competent jurisdiction to the extent such actual or alleged default or Event of Default is the subject
of litigation.

 

    A-8 

     

    

 

Any Noteholder Direction provided by any one or more Directing Holders
must be accompanied by a Position Representation, which representation, in the case of a Default Direction shall be deemed repeated at
all times until the resulting Event of Default is cured or otherwise ceases to exist or the Notes are accelerated. In addition, each Directing
Holder must, at the time of providing a Noteholder Direction, make a Verification Covenant. In any case in which the Holder is DTC or
its nominee, any Position Representation or Verification Covenant required hereunder shall be provided by the beneficial owner of the
Notes in lieu of DTC or its nominee, and DTC shall be entitled to rely on such Position Representation and Verification Covenant in delivering
its direction to the Trustee.

 

If, following the delivery of a Noteholder Direction, but prior to
acceleration of the Notes, the Issuers determine in good faith that there is a reasonable basis to believe a Directing Holder was, at
any relevant time, in breach of its Position Representation and provide to the Trustee evidence that the Issuers have initiated litigation
in a court of competent jurisdiction seeking a determination that such Directing Holder was, at such time, in breach of its Position Representation,
and seeking to invalidate any Event of Default that resulted from the applicable Noteholder Direction, the cure period with respect to
such Default shall be automatically stayed and the cure period with respect to such Event of Default shall be automatically reinstituted
and any remedy stayed pending a final and non-appealable determination of a court of competent jurisdiction on such matter.

 

If, following the delivery of a Noteholder Direction, but prior
to acceleration of the Notes, the Issuers provide to the Trustee an Officers’ Certificate stating that a Directing Holder
failed to satisfy its Verification Covenant, the cure period with respect to such Default shall be automatically stayed and the cure
period with respect to any Event of Default that resulted from the applicable Noteholder Direction shall be automatically
reinstituted and any remedy stayed until such time as the Issuers provide the Trustee with an Officers’ Certificate that the
Verification Covenant has been satisfied; provided that the Issuers shall promptly deliver such Officers’ Certificate
to the Trustee upon becoming aware that the Verification Covenant has been satisfied. Any breach of the Position Representation (as
evidenced by the delivery to the Trustee of the Officers’ Certificate stating that a Directing Holder failed to satisfy its
Verification Covenant) shall result in such Holder’s participation in such Noteholder Direction being disregarded; and if,
without the participation of such Holder, the percentage of Notes held by the remaining Holders that provided such Noteholder
Direction would have been insufficient to validly provide such Noteholder Direction, such Noteholder Direction shall be void ab
initio, with the effect that such Event of Default shall be deemed never to have occurred, acceleration voided and the Trustee shall
be deemed not to have received such Noteholder Direction or any notice of such Default or Event of Default.

 

    A-9 

     

    

 

Notwithstanding anything in the preceding two paragraphs to the contrary,
any Noteholder Direction delivered to the Trustee during the pendency of an Event of Default as the result of a bankruptcy or similar
direction shall not require compliance with the foregoing paragraphs.

 

13.            TRUSTEE
DEALINGS WITH ISSUERS. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services
for any Issuer or its Affiliates, and may otherwise deal with any Issuer or its Affiliates, as if it were not the Trustee.

 

14.            NO
RECOURSE AGAINST OTHERS. A director, officer, employee, incorporator, member or stockholder of the Issuers, as such, shall not have any
liability for any obligations of the Issuers under the Notes or the Supplemental Indenture or for any claim based on, in respect of, or
by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and
release are part of the consideration for the issuance of the Notes.

 

15.            GOVERNING
LAW. THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS NOTE AND THE SUPPLEMENTAL INDENTURE WITHOUT
GIVING EFFECT TO THE APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY. EACH OF THE PARTIES HERETO AND THE HOLDERS AGREE TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF
NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE.

 

16.            AUTHENTICATION.
This Note shall not be valid until authenticated by the manual or electronic signature of the Trustee or an authenticating agent.

 

17.            ABBREVIATIONS.
Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants
by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A
(= Uniform Gifts to Minors Act).

 

18.            CUSIP
NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuers have caused
CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No
representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and
reliance may be placed only on the other identification numbers placed thereon.

 

    A-10 

     

    

 

 

The Issuers will furnish to any Holder upon written request and without
charge a copy of the Supplemental Indenture and/or the Base Indenture, as applicable. Requests may be made to the Issuers:

 

c/o Charter Communications, Inc.

400 Washington Boulevard

Stamford, Connecticut 06902

Attention: Corporate Secretary

 

    A-11 

     

    

 

ASSIGNMENT FORM

 

	To assign this Note, fill in the form below:	 

 

	(i) or (we) assign and transfer this Note to: 	  

 

	(Insert assignee’s legal name)	 

 

	 	 

(Insert assignee’s soc. sec. or tax I.D. no.)

 

	 	 
	 	 
	 	 
	 	 
	 	 

 

	 	 

(Print or type assignee’s name, address and zip code)

 

and irrevocably appoint ________________________________________________
to transfer this Note on the books of the Issuers. The agent may substitute another to act for him.

 

	Date:	 	 

 

	Your Signature:	 	 

(Sign exactly as your name appears on the face of this Note)

 

	Signature Guarantee*:	 	 

 

* Participant in a recognized Signature Guarantee Medallion Program
(or other signature guarantor acceptable to the Trustee).

 

    A-12 

     

    

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL
NOTE*

 

The following exchanges of a part of this Global
Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note
for an interest in this Global Note, have been made:

 

	Date of Exchange  	 	Amount of
 decrease in
 Principal Amount 

of this Global

 Note  	 	Amount of
 increase in
 Principal Amount 

of this Global 

Note  	 	Principal Amount

 of this Global

 Note following 

such decrease (or

 increase)  	 	Signature of
 authorized officer 

of Trustee or 

Note Custodian  
	 	 	 	 	 	 	 	 	 

 

    A-13

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