Document:

Document

Exhibit 10(r)
KIMBERLY-CLARK CORPORATION
ANNUAL TIME-VESTED RESTRICTED STOCK UNIT
AWARD AGREEMENT
(Special Nomination Schedule)

This Award, granted effective on __________ (the “Grant Date”), by Kimberly-Clark Corporation, a Delaware corporation (hereinafter called the “Corporation”), to ________________ (the “Participant”) is subject to the terms and conditions of the Kimberly-Clark Corporation 2021 Equity Participation Plan (the “Plan”) and the Award Agreement, including any country-specific terms and conditions contained in Appendix A to the Award Agreement.

W I T N E S S E T H:

WHEREAS, the Corporation has adopted the Plan to encourage those employees who materially contribute, by managerial, scientific or other innovative means, to the success of the Corporation or of an Affiliate, to acquire an ownership interest in the Corporation, thereby increasing their motivation for and interest in the Corporation's and its Affiliates' long-term success;

NOW, THEREFORE, it is agreed as follows:

1.    Number of Share Units Granted.  The Corporation hereby grants to the Participant the right to receive all or any part of ________ Annual Time-Vested Restricted Stock Units (“RSUs”) of the $1.25 par value Common Stock of the Corporation, subject to the terms, conditions and restrictions set forth herein and in the Plan.  

2.    Transferability Restrictions.

(a)    Restricted Period.  During the Restricted Period, the Participant may not sell, assign, transfer, or otherwise dispose of, or mortgage, pledge or otherwise encumber the Award, and any such attempted sale, assignment, transfer, pledge or disposal shall be void.  Except as provided under paragraph 2, the RSUs, including any accrued dividend equivalents, shall be subject to forfeiture until the Participant becomes vested in such Awards on the date that was approved on the Grant Date and as reflected on the Merrill Lynch Benefits On-line site, or any successor system, via the Grant Summary screen as the Future Vesting table.

The Restricted Period shall begin on the date of the granting of this Award, and shall end [upon the vesting of the Award]. During the Restricted Period and prior to the vesting of the RSUs, holders of Awards shall have none of the rights of a shareholder with respect to the shares of Common Stock that may be earned pursuant to the RSUs, including, but not limited to, any right to receive dividends in cash or other property or other distribution or rights in respect of such shares except as otherwise provided in this Award Agreement, nor to vote such shares as the record owner thereof.  

During each year in the Restricted Period, the Participant will not be paid dividend equivalents on the unvested RSUs but the Participant will receive a credit equal to dividends declared on 

the Corporation’s Common Stock which will be reinvested in additional RSUs at the then fair market value of the Corporation’s Common Stock on the date dividends are paid, and the additional RSUs will be accumulated and paid if and when the RSUs vest, based on the actual number of RSUs that vest.  In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Corporation.  The Corporation shall not be required to segregate any cash or other property of the Corporation.  

(b)    Termination of Employment.  For purposes of this Award, the Participant's employment will be considered terminated as of the date the Participant is no longer actively providing services to the Corporation or one of its Affiliates (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where the Participant is employed or the terms of the Participant's employment agreement, if any), and unless otherwise expressly provided in this Award Agreement or determined by the Corporation, the Participant’s right to receive RSUs and vest in the Award under the Plan, if any, will terminate effective as of such date and will not be extended by any notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where the Participant is employed or the terms of the Participant's employment agreement, if any); the Committee shall have the exclusive discretion to determine when the Participant is no longer employed for purposes of the Award (including whether the Participant may still be considered employed while on a leave of absence).  

The Participant shall forfeit any unvested portion of the Award, including any accrued dividend equivalents, upon termination of employment unless such termination is (i) due to a Qualified Termination of Employment, or (ii) if more than six months from the Grant Date, due to death, Retirement, Total and Permanent Disability, or the shutdown or divestiture of a business unit.  An authorized leave of absence shall not be deemed to be a termination of employment if the period of such leave does not exceed six months, or if longer, so long as the Participant retains a right to reemployment with the Corporation or an Affiliate under an applicable statute or by contract.  For purposes of this subparagraph, a leave of absence constitutes a bona fide leave of absence only if there is a reasonable expectation that the Participant will return to perform services for the Corporation or an Affiliate.  If the period of leave exceeds six months and the Participant does not retain a right to reemployment under an applicable statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such six-month period.  Notwithstanding the foregoing, where a leave of absence is due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six months, where such impairment causes the Participant to be unable to perform the duties of his or her position of employment or any substantially similar position of employment, a 29-month period of absence is substituted for such six-month period in determining whether a termination of employment shall be deemed to have occurred.  A termination of employment with the Corporation or an Affiliate to accept immediate reemployment with the Corporation or an Affiliate likewise shall not be deemed to be a termination of employment for the purposes of the Plan if the level of bona fide services the Participant would perform after such date would permanently decrease to no more than 20 percent of the average level of bona fide services performed over the immediately preceding 36-month period (or the full period of services to the Corporation or an Affiliate if the Participant has been providing such services less than 36 months).  A Participant who is classified as an intermittent employee shall be deemed to have a termination of employment for purposes of the Plan if the level of bona fide services the Participant would 
Page 2 of 53

perform after such date would permanently decrease to less than 50 percent of the average level of bona fide services performed over the immediately preceding 36-month period (or the full period of services to the Corporation or an Affiliate if the Participant has been providing such services less than 36 months).

For purposes of this Award, a termination of employment includes a termination that is deemed an “unfair dismissal” or a “constructive dismissal.” Further, the Participant understands that the Award is a conditional right.  Participant shall forfeit any unvested RSUs upon termination of employment except as provided above, for example, regardless of whether  (1) the Participant is considered to be unfairly dismissed without good cause; (2) the Participant is dismissed for disciplinary or objective reasons or due to a collective dismissal; (3) the Participant terminates his or her  employment or service relationship due to a change of work location, duties or any other employment or contractual condition; or (4) the Participant terminates his or her employment or service relationship due to a unilateral breach of contract by the Corporation or an Affiliate.  Consequently, upon termination of the Participant’s employment or service relationship for any of the above reasons, the Participant may automatically lose any rights to the RSUs that were not vested on the date of termination of the Participant’s employment or service relationship, as described in the Plan and the Award Agreement.

(c)    Death, Retirement or Total and Permanent Disability.  If the Participant’s termination of employment is due to death, Retirement or Total and Permanent Disability, it shall result in full vesting, as determined by the Committee, and shall be paid, within 70 days following the Participant’s termination of employment or within such later period as permitted by Section 409A of the U.S. Internal Revenue Code of 1986 and the regulations thereunder, as amended from time to time (the “Code”).  

(d)    Shutdown or Divestiture.  In the event that after the Grant Date the Participant’s termination of employment is due to the shutdown or divestiture of the Corporation’s or its Affiliate’s business, it shall result in pro rata vesting, as determined by the Committee, and the number of shares that are considered to vest shall be calculated as (1) the total number of RSUs granted under the Award minus the number of RSUs already vested under the Award multiplied by (2) the number of full months of employment during the Restricted Period divided by 36.  Any fractional share of the Corporation resulting from such a prorated award shall be rounded to the nearest whole share and shall be paid, along with any other shares earned under such prorated award, within 70 days following the end of the Restricted Period. For the purposes of this Award, a shutdown or divestiture of the Corporation’s or its Affiliate’s business unit is defined as one for which the charges related to the shutdown or divestiture are accounted for, and reported externally, as an exit activity in the Corporation's applicable SEC filings.  The Corporation has complete discretion to determine whether a shutdown or divestiture of a business unit has occurred under the terms of the Plan.

(e)    Qualified Termination of Employment.  In the event of a Qualified Termination of Employment, all restrictions will lapse and the shares will become fully vested and shall be paid within 10 days following the last day of employment of the Participant with the Corporation or an Affiliate.  

(f)    Payment of Awards.  The payment of the Award shall be made in shares of Common Stock.  The payment of an Award shall be made within 70 days following the end of the Restricted Period.   
Page 3 of 53

(g)    Payment of Tax-Related Items.  No shares of Common Stock, nor any cash payment, may be delivered under this Award, unless prior to or simultaneously with such issuance, the Participant or, in the event of his death, the person succeeding to his rights hereunder, shall pay to the Corporation or an Affiliate, as applicable, such amount as the Corporation advises is required under applicable federal, state or local laws to withhold and pay over to governmental taxing authorities in relation to this Award.  The Corporation may, in its discretion, withhold payment of required Tax-Related items (as defined in the Acknowledgment of Conditions section) with cash or shares of Common Stock which otherwise would be delivered following the date of vesting of the Award under this Section 2.

3.    Nontransferability. Neither the Award nor the Participant’s right to receive payment for vested Awards may be assigned or transferred except upon the death of the Participant (i) by will or (ii) by the laws of descent and distribution. 

4.    Compliance with Law.  No payment may be made under this Award, unless prior to the issuance thereof, the Corporation shall have received an opinion of counsel to the effect that this Award by the Corporation to the Participant will not constitute a violation of the U.S. Securities Act of 1933, as amended.  As a condition of this Award, the Participant shall, if requested by the Corporation, submit a written statement in form satisfactory to counsel for the Corporation, to the effect that any shares received under this Award shall be for investment and not with a view to the distribution thereof within the meaning of the U.S. Securities Act of 1933, as amended, and the Corporation shall have the right, in its discretion, to cause the certificates representing shares hereunder to be appropriately legended to refer to such undertaking or to any legal restrictions imposed upon the transferability thereof by reason of such undertaking.

The Award granted hereby is subject to the condition that if the listing, registration or qualification of the shares subject hereto on any securities exchange or under any state or federal law, or if the consent or approval of any regulatory body shall be necessary as a condition of, or in connection with, the granting of the Award or the delivery of shares thereunder, such shares may not be delivered unless and until such listing, registration, qualification, consent or approval shall have been effected or obtained.  The Corporation agrees to use its best efforts to obtain any such requisite listing, registration, qualification, consent or approval.

The Participant is solely responsible for obtaining/providing whatever exchange control approvals, permits, licenses, or notices, which may be necessary for the Participant to hold the Award, or to receive any payment of cash or shares or to hold or sell the shares subject to the Award, if any.  Neither the Corporation nor its Affiliates will be responsible for obtaining any such approvals, licenses or permits, or for making any such notices, nor will the Corporation or its Affiliates be liable for any fines or penalties the Participant may incur for failure to obtain any required approvals, permits or licenses or to make any required notices.

5.    No Right of Continued Employment.  The granting of this Award does not confer upon the Participant any legal right to be continued in the employ of the Corporation or its Affiliates, and the Corporation and its Affiliates reserve the right to discharge the Participant whenever the interest of the Corporation or its Affiliates may so require without liability to the Corporation 
Page 4 of 53

or its Affiliates, the Board of Directors of the Corporation or its Affiliates, or the Committee, except as to any rights which may be expressly conferred on the Participant under this Award.

6.    Discretion of the Corporation, Board of Directors and the Committee.  Any decision made or action taken by the Corporation or by the Board of Directors of the Corporation or by the Committee arising out of or in connection with the construction, administration, interpretation and effect of this Award shall be within the absolute discretion of the Corporation, the Board of Directors of the Corporation or the Committee, as the case may be, and shall be conclusive and binding upon all persons. 

7.    Inalienability of Benefits and Interest.  This Award and the rights and privileges conferred hereby shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any such attempted action shall be void and no such benefit or interest shall be in any manner liable for or subject to debts, contracts, liabilities, engagements, or torts of the Participant.

8.    Delaware Law to Govern.  The Plan is governed by and subject to the laws of the United States of America.  All questions pertaining to the construction, interpretation, regulation, validity and effect of the provisions of this Award and any rights under the Plan shall be determined in accordance with the laws of the State of Delaware and federal courts located in the District of Delaware shall be the exclusive forum for any dispute arising out of or related to the Award or the Award Agreement and the Participant consents to and waives any objection to the exercise of personal jurisdiction and venue by such courts.

9.    Purchase of Common Stock.  The Corporation and its Affiliates may, but shall not be required to, purchase shares of Common Stock of the Corporation for purposes of satisfying the requirements of this Award.  The Corporation and its Affiliates shall have no obligation to retain and shall have the unlimited right to sell or otherwise deal with for their own account, any shares of Common Stock of the Corporation purchased for satisfying the requirements of this Award.

10.    Notices.  Any notice to be given to the Corporation under this Award, except as required under Section 19 below, shall be addressed to the Corporation in care of its Director of Compensation located at the World Headquarters, and any notice to be given to the Participant under the terms of this Award may be addressed to him or her at the address as it appears on the Corporation's records, or at such other address as either party may hereafter designate in writing to the other.  Any such notice shall be deemed to have been duly given if and when enclosed in a properly sealed envelope or wrapper addressed as aforesaid, registered and deposited, postage and registry fee prepaid, in a post office or branch post office regularly maintained by the United States Government or any equivalent non-U.S. postal service.

Page 5 of 53

11.    Changes in Capitalization.  In the event there are any changes in the Common Stock or the capitalization of the Corporation through a corporate transaction, such as any merger, any acquisition through the issuance of capital stock of the Corporation, any consolidation, any separation of the Corporation (including a spin-off or other distribution of stock of the Corporation), any reorganization of the Corporation (whether or not such reorganization comes within the definition of such term in Section 368 of the Code), or any partial or complete liquidation by the Corporation, recapitalization, stock dividend, stock split or other change in the corporate structure, appropriate adjustments and changes shall be made by the Committee in (a) the number and type or class of shares subject to this Award, and (b) such other provisions of this Award as may be necessary and equitable to carry out the foregoing purposes.

12.    Effect on Other Plans.  All benefits under this Award shall constitute special incentives and shall not affect the level of benefits provided to or received by the Participant (or the Participant's estate or beneficiaries) as part of any employee benefit plan of the Corporation or an Affiliate.  This Award shall not be construed to affect in any way the Participant's rights and obligations under any other plan maintained by the Corporation or an Affiliate on behalf of employees.

13.    Discretionary Nature of Award.  The grant of an Award is a one-time benefit and does not create any contractual or other right to receive a grant of Awards or benefits in lieu of Awards in the future.  Future grants, if any, will be at the sole discretion of the Corporation, including, but not limited to, the timing of any grant, the number of RSUs and vesting provisions.  The value of the Award is an extraordinary item outside the scope of the Participant’s employment contract, if any.  As such, the Award is not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards, leave-related payments, holiday pay, pension, retirement or welfare benefits or similar payments.

14.    Data Privacy.  The Participant hereby authorizes their actual employer (the “Employer”) to furnish the Corporation (and any agent of the Corporation administering the Plan or providing Plan recordkeeping services) with such information and data as it shall request in order to facilitate the grant of Awards and administration of the Plan and the Participant waives any data privacy rights such Participant might otherwise have with respect to such information. The Controller of personal data processing is Kimberly-Clark Corporation with registered offices at 351 Phelps Drive, Irving, Texas 75038, United States of America.

15.    Conflict with Plan or Other Documents.  This Award is awarded pursuant to and subject to the Plan.  This Agreement is intended to supplement and carry out the terms of the Plan.  It is subject to all terms and provisions of the Plan and, in the event of a conflict, the Plan shall prevail. In the event of any conflict between this Agreement and the terms of any notice, communication, plan summary, prospectus or other ancillary documentation relating to the Award, this Agreement will prevail.

16.    Successors.  This Award Agreement, including but not limited to the non-competition obligations described in Section 19 below, shall be binding upon and inure to the benefit of any successor or successors of the Corporation.

Page 6 of 53

17.    Amendments.  The Committee may at any time alter or amend this Award to the extent (1) permitted by law, (2) permitted by the rules of any stock exchange on which the Common Stock or any other security of the Corporation is listed, and (3) permitted under applicable provisions of the U.S. Securities Act of 1933, as amended, the U.S. Securities Exchange Act of 1934, as amended (including rule 16b-3 thereof).

18.    Defined Terms.  Terms which are capitalized are defined herein or in the Plan and have the same meaning set forth in the Plan, unless the context indicates otherwise.

19.    Non-Competition Provisions For U.S. Participants Only.  

(a)    As the Award is intended to encourage the Participant to continue employment with the Corporation or an Affiliate, during which time the Participant will have access to the Corporation’s or Affiliate’s confidential information and trade secrets, including confidential information and trade secrets first developed after the Grant Date, during the term of the Participant’s employment and for a period of two (2) years following the termination of employment, regardless of the reason for or the manner of termination, the Participant shall not, without the written consent of General Counsel of the Corporation or his/her designee, in any country or countries for which Participant had development, marketing, innovation/technology (R&D), distribution, sales, administrative, operational/supply chain or manufacturing oversight responsibilities during the last twelve (12) months of Participant’s employment, either directly or indirectly, perform duties or undertake responsibilities for a Competitor that are the same or substantially similar to those duties or responsibilities that the Participant performed or undertook for the Corporation or an Affiliate during the two (2) year period prior to the end of the Participant’s employment with the Corporation or an Affiliate.  As used herein, “Competitor” means a person or entity who engages in a business that is the same or substantially the same as any aspect of the Business of the Corporation.  As used herein, “Business of the Corporation” is the development, production, sales and/or marketing of (i) health and hygiene products; (ii) washroom and workplace protective and safety products; and (iii) the materials, packaging and other components/subcomponents of such products. Notwithstanding the foregoing, if the Participant’s residence or principal place of employment on the Grant Date is in California or in any other jurisdiction where any provision of this Section 19(a) prohibiting post-employment non-complete covenant is restricted by applicable law, then the provisions of this Section 19(a) will not apply to the extent any such provision is prohibited by applicable law. 
(b)     During the period of two (2) years following termination of the Participant’s employment with the Corporation or an Affiliate, the Participant agrees to notify the Corporation in writing prior to accepting new employment, or engaging in any other activity which may violate this Award Agreement, and the Participant agrees to provide in such notice information concerning the anticipated new employment or activity, including, but not limited to: name of new employer; address of new employer; name of new team leader; job title; and scope and responsibilities of the new position.  The Participant recognizes that such duty of notification is not affected by the Participant’s belief that such employment may perhaps not violate this Award Agreement or otherwise be unfairly competitive with the Corporation or an Affiliate.  The Participant’s written notice should be addressed to General Counsel, Attention:  Non-Competition Agreement, Kimberly-Clark Corporation, 351 Phelps Drive, Irving, TX  75038.  Provided, however, the foregoing notice requirement shall not apply if the Participant resides and/or primarily works in the State of California or any other jurisdiction where any provision of 
Page 7 of 53

this Section 19(b) prohibiting post-employment non-compete covenants is restricted by applicable law.

(c)      During the period of two (2) years following termination of the Participant’s employment with the Corporation or an Affiliate, the Participant shall provide a copy of Section 19 of this Award Agreement to each new employer before starting in any new employment.  The Participant agrees that the Corporation may notify any third party about the Participant’s obligations under Section 19 of this Award Agreement until such obligations are fulfilled.  

(d)    If any provision of this Section 19 is held to be invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, such provision shall be deemed to be severed from the Award Agreement and such invalidity, illegality or unenforceability will not affect any other provision of the Award Agreement, all of which shall remain valid and enforceable.  Notwithstanding the foregoing, if a court of competent jurisdiction determines that the covenants contained in this Section 19 are unenforceable because they are overbroad in some respect, to the full extent permitted by applicable law, the court should sever, revise or reform any aspect of this Section 19 so as to make the scope of such Section 19 as broad as reasonable under applicable law and enforce this Section 19 as so modified.

(e)    In the event of an anticipated or actual breach by the Participant of this provision, the Participant acknowledges and agrees that damages would not be an adequate remedy to compensate the Corporation for the harm to the business of the Corporation and, in such event, agrees that the Corporation shall be entitled to a temporary restraining order and to temporary injunctive relief to prevent or terminate such anticipated or actual breach, provided, however, that nothing in this Award Agreement shall be construed to limit any permanent relief to which the Corporation may be entitled or the damages otherwise recoverable by the Corporation in any such event.

(f)    If the Participant violates any aspect of this provision, or any duty of loyalty or confidentiality imposed by law, in addition to any damages that the Participant may be required to pay, the Participant understands and agrees that the Participant shall be required to reimburse the Corporation for all its costs incurred to enforce this Award Agreement, including but not limited to, all attorneys’ fees.

20.    Whistleblower Statutes.  Notwithstanding anything to the contrary in this Award Agreement, nothing in Section 19 of this Award Agreement is intended to or shall limit, prevent, impede or interfere with the Participant's non-waivable right, without prior notice to the Corporation, to provide information to the government, participate in investigations, testify in proceedings regarding the Corporation, Employer or any Affiliate's past or future conduct, engage in any activities protected under whistleblower statutes, or to receive and fully retain a monetary award from a government-administered whistleblower award program for providing information directly to a government agency.  The Participant does not need prior authorization from the Corporation to make any such reports or disclosures and is not required to notify the Corporation that the Participant has made such reports or disclosures.

21.    Section 409A.  It is the intent of this Award Agreement that it and all payments and benefits hereunder be exempt from, or comply with, the requirements of Section 409A of the Code so that none of the RSUs provided under this Award Agreement or shares of Common 
Page 8 of 53

Stock issuable thereunder will be subject to the additional tax imposed under Section 409A of the Code, and any ambiguities herein will be interpreted to be so exempt or so comply.
22.    Acceptance of Award Terms and Conditions.  A Participant has until the end of the one hundred twenty (120) day period beginning from the Grant Date of this Award to accept this Award Agreement.  If the Participant does not accept this Award Agreement on or before the end of such one hundred twenty (120) day period then the grant of the Award, as set forth in Section 1, shall not be binding on and shall be voidable by the Corporation, in which case it shall have no further force or effect.

Acknowledgment of Conditions

The Participant understands, acknowledges and agrees to the following conditions with respect to the Award granted under the Plan:

The Plan is established voluntarily by the Corporation, is discretionary in nature and may be modified, amended, suspended, cancelled or terminated at any time, to the extent permitted by the Plan.  The grant of an Award is an exceptional, voluntary and occasional benefit and does not create any contractual or other right to receive an Award or benefits in lieu of an Award in the future, even if Awards have been granted in the past.  Future grants, if any, will be at the sole discretion of the Corporation, including, but not limited to, the timing of any grant, the number of Awards and vesting provisions.

Participation in the Plan is voluntary and does not create a right to employment with the Participant’s Employer, shall not be interpreted as forming an employment or service contract with the Corporation, and shall not interfere with the ability of the Employer to terminate the Participant’s employment relationship at any time.  The Participant understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Awards under the Plan to individuals who are employees of the Corporation or its Affiliates throughout the world.  The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis.  Consequently, the Participant understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever.  Further, the Participant understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of the Award and the underlying shares is unknown and unpredictable.  In addition, the Participant understands that this grant would not be made but for the assumptions and conditions referred to above; thus, the Participant understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the Award shall be null and void.

The Award and the shares of Common Stock subject to the Award, and the income from and value of same, are extraordinary items that do not constitute compensation of any kind for services of any kind rendered to the Corporation or, if different, the Employer, and which are outside the scope of the Participant’s employment contract, if any, and are not intended to replace any pension rights or compensation.  As such, the Award, and the income from and 
Page 9 of 53

value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards, leave-related payments, holiday pay, pension, retirement or welfare benefits or similar payments and in no event shall be considered as compensation for, or relating in any way to, past services for the Corporation, the Employer or any other Affiliate.

Unless otherwise agreed with the Corporation, the Award and shares of Common Stock subject to the Award, and the income from and value of same, are not granted as consideration for, or in connection with, any service the Participant may provide as a director of any Affiliate.

The future value of the underlying shares of Common Stock is unknown, indeterminable, and cannot be predicted with certainty.  
No claim or entitlement to compensation or damages shall arise from forfeiture of the Award resulting from termination of the Participant’s employment by the Corporation or the Employer (regardless of the reason for such termination and whether or not the termination is later found to be invalid or in breach of employment laws).
The Corporation is not providing any tax, legal or financial advice, nor is the Corporation making any recommendations regarding participation in the Plan, or the acquisition or sale of the underlying shares of Common Stock.  Further, the Participant understands that he or she should consult with his or her own advisors regarding participation in the Plan before taking any action related to the Plan.
Neither the Corporation, the Employer nor any other Affiliate shall be liable for any foreign exchange rate fluctuation between the Participant’s local currency and the United States Dollar that may affect the value of the RSUs or of any amounts due to the Participant pursuant to the settlement of the RSUs or the subsequent sale of any shares of Common Stock acquired upon settlement.
Regardless of any action the Corporation or the Employer takes with respect to any or all income tax (including federal, state and local taxes), social insurance, fringe benefit tax, payroll tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant (“Tax-Related Items”), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount, if any, actually withheld by the Corporation or the Employer.  The Participant further acknowledges that the Corporation and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Award, including the grant of the RSUs, the vesting of RSUs, the conversion of the RSUs into shares or the receipt of an equivalent cash payment, the subsequent sale of any shares acquired at vesting and the receipt of any dividends or dividend equivalents; and (ii) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Award to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result.  Further, if the Participant is subject to Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Corporation and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.
Page 10 of 53

Prior to the relevant taxable or tax withholding event, as applicable, the Participant shall pay or make adequate arrangements satisfactory to the Corporation and/or the Employer to satisfy or account for all applicable withholding obligations for Tax-Related Items.  In this regard, the Participant authorizes the Corporation or the Employer, or their respective agents, at their discretion, to satisfy their withholding obligations, if any, with regard to all Tax-Related Items by one or a combination of the following:
(1)    withholding from the Participant’s wages or other cash compensation paid to the Participant by the Corporation and/or the Employer; or
(2)    withholding from the proceeds of the sale of shares acquired upon vesting of the Award either through a voluntary sale or through a mandatory sale arranged by the Corporation (on the Participant’s behalf, pursuant to this authorization); or
(3)    withholding shares to be issued upon vesting of the Award;
provided, however, that if the Participant is subject to Section 16 of the U.S. Securities Exchange Act of 1934, as amended, then the Corporation will withhold in shares upon the relevant taxable or tax withholding event, as applicable, unless the use of such withholding method is not feasible under applicable tax or law or has materially adverse accounting consequences, in which case, the obligation for Tax-Related Items may be satisfied by one or a combination of methods (1), (2) and (3) above.
The Corporation may withhold or account for Tax-Related Items by considering applicable statutory withholding amounts or other applicable withholding rates, including minimum rates or maximum rates in applicable jurisdictions.  In the event of over-withholding, the Participant may receive a refund of any over-withheld amount in cash (with no entitlement to the common stock equivalent), or if not refunded, the Participant may seek a refund from the applicable tax authorities. In the event of under-withholding, the Participant may be required to pay additional Tax-Related Items directly to the applicable tax authorities or to the Corporation or the Employer.  If the obligation for Tax-Related Items is satisfied by withholding in shares, for tax purposes, the Participant is deemed to have been issued the full number of shares subject to the Award, notwithstanding that a number of shares is held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of the Participant’s participation in the Plan.
The Participant shall pay to the Corporation or to the Employer any amount of Tax-Related Items that the Corporation or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described.  The Corporation may refuse to deliver shares or the proceeds of the sale of shares to the Participant if he or she fails to comply with his or her obligations in connection with the Tax-Related Items.
The Corporation is located at 351 Phelps Drive Irving, TX 75038, USA and grants employees of the Corporation and its Affiliates the opportunity to participate in the Plan, at the Corporation’s sole discretion. If the Participant would like to participate in the Plan and is an employee in a country outside the European Economic Area, the Participant understands that he or she should review the following information about the Corporation’s data processing practices and declare his or her consent.  If the Participant is an employee in a country that is 
Page 11 of 53

a member of the European Economic Area, the Participant should review the information about the Corporation's data processing practices set forth in Appendix A attached hereto.  
(i)Data Collection and Usage. The Corporation collects, processes and uses the Participant’s personal data, including, name, home address, email address and telephone number, date of birth, social insurance number, passport or other identification number, salary, citizenship, nationality, job title, any shares of stock or directorships held in the Corporation, and details of all awards, canceled, vested, or outstanding in the Participant’s favor, which the Corporation receives from the Participant or the Participant’s Employer. If the Corporation offers the Participant the opportunity to participate in the Plan, then the Corporation will collect the Participant’s personal data for purposes of allocating stock and implementing, administering and managing the Plan. The Corporation’s legal basis for the processing of the Participant’s personal data would be the Participant’s consent.
(ii)Stock Plan Administration Service Providers. The Corporation transfers participant data to Merrill Lynch, an independent service provider based in the United States, which assists the Corporation with the implementation, administration and management of the Plan. In the future, the Corporation may select a different service provider and share the Participant’s data with another company that serves in a similar manner. The Corporation’s service provider will open an account for the Participant. The Participant will be asked to agree on separate terms and data processing practices with the service provider, which is a condition for participation in the Plan.
(iii)International Data Transfers. The Corporation and its service providers are based in the United States. If the Participant is outside of the United States, the Participant should note that his or her country may have enacted data privacy laws that are different from the United States. The Corporation’s legal basis for the transfer of my personal data is the Participant’s consent. 
(iv)Data Retention. The Corporation will use the Participant’s personal data only as long as is necessary to implement, administer and manage his or her participation in the Plan or as required to comply with legal or regulatory obligations, including under tax and security laws. This period may extend until the Participant’s employment or service with the Corporation is terminated, plus any additional time periods necessary for compliance with law, exercise or defense of legal rights, and archiving, back-up and deletion processes.
(v)Voluntariness and Consequences of Consent Denial or Withdrawal. The Participant’s participation in the Plan and the Participant’s grant of consent is purely voluntary. The Participant may deny or withdraw his or her consent at any time. If the Participant does not consent, or if he or she withdraws their consent, the Participant cannot participate in the Plan. This would not affect the Participant’s salary as an employee; the Participant would merely forfeit the opportunities associated with the Plan.
Page 12 of 53

(vi)Data Subject Rights. The Participant has a number of rights under data privacy laws in his or her country. Depending on where the Participant is based, the Participant’s rights may include the right to (i) request access or copies of personal data the Corporation processes, (ii) rectification of incorrect data, (iii) deletion of data, (iv) restrictions on processing, (v) portability of data, (vi) to lodge complaints with competent authorities in the Participant’s country, and/or (vii) a list with the names and addresses of any potential recipients of the Participant’s personal data. To receive clarification regarding the Participant’s rights or to exercise the rights please contact the Corporation at Attn: Long-term Incentive Plan Administration at Kimberly Clark, 351 Phelps Drive Irving, TX 75038, USA. 

The Participant also understands that the Corporation may rely on a different legal basis for the processing or transfer of data in the future and/or request that the Participant provides another data privacy consent.  If applicable and upon request of the Corporation, the Participant agrees to provide an executed acknowledgment or data privacy consent form to the Corporation or the Employer (or any other acknowledgments, agreements or consents) that the Corporation and/or the Employer may deem necessary to obtain under the data privacy laws in the Participant’s country, either now or in the future.  The Participant understands that he or she will not be able to participate in the Plan if the Participant fails to execute any such acknowledgment, agreement or consent requested by the Corporation and/or the Employer.

If the Participant agrees with the data processing practices described in this notice, the Participant will declare his or her consent by clicking the "Accept" icon on the Merrill Lynch website.
The Participant understands that he or she is solely responsible for obtaining/providing whatever exchange control approvals, permits, licenses or notices, which may be necessary for the Award, to acquire the shares or to hold or sell the shares subject to the Award. Neither the Corporation nor its Affiliates will be responsible for obtaining such approvals, licenses or permits, or for making any such notices, nor will the Corporation or its Affiliates be liable for any fines or penalties the Participant may incur for failure to obtain any required approvals, permits or licenses or to make any required notices.

In accepting the grant of this Award, the Participant acknowledges that he or she has received a copy of the Plan and the Award Agreement and has reviewed the Plan and the Award Agreement, including Appendix A, in their entirety and fully understands and accepts all provisions of the Plan and the Award Agreement, including Appendix A.  

The Participant acknowledges that he or she has read and specifically and expressly approves the following sections of the Award Agreement: Section 2(g) on Payment of Tax-Related Items; Section 5 on No Right of Continued Employment; Section 8 on Delaware Law to Govern; the section on Acknowledgment of Conditions; and the Data Privacy Notice sections of both the Award Agreement and Appendix A for the Participant’s country.
The provisions of this Award Agreement are severable and if one or more of the provisions of this Award Agreement shall be held invalid, illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nonetheless be binding and enforceable.  To the extent 
Page 13 of 53

that any provisions of this Award Agreement are held to be invalid or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and the invalid, illegal or unenforceable provisions shall be deemed null and void; however, to the extent permissible by law, any provisions which could be deemed null and void shall first be construed, interpreted or revised retroactively to permit this Award Agreement to be construed so as to foster the intent of this Award Agreement and the Plan.
The Participant acknowledges that he or she is sufficiently proficient in English, or has consulted with an advisor who is sufficiently proficient in English, so as to allow the Participant to understand the terms and conditions of this Award Agreement.  Furthermore, if the Participant has received this Award Agreement or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.
Notwithstanding any provisions in this Award Agreement, the Award shall be subject to any additional terms and conditions set forth in Appendix A to this Award Agreement for the Participant’s country.  Moreover, if the Participant relocates to any of the countries included in Appendix A, the additional terms and conditions for such country will apply to the Participant, to the extent the Corporation determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons.  Appendix A constitutes part of this Award Agreement. 

For U.S. Participants only: The Participant acknowledges that the grant of an Award is expressly conditioned on the non-competition provisions set forth in Section 19. 
The Corporation reserves the right to impose other requirements on the Participant’s participation in the Plan, on the Award and on any shares acquired under the Plan, to the extent the Corporation determines it is necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.
The Corporation may, in its sole discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means.  The Participant hereby consents to receive such documents by on-line delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Corporation or a third-party designated by the Corporation.
A waiver by the Corporation of breach of any provision of this Award Agreement shall not operate or be construed as a waiver of any other provision of this Award Agreement, or of any subsequent breach by the Participant or any other participant.
The Participant may be subject to insider trading restrictions and/or market abuse laws in applicable jurisdictions, which may affect the Participant’s ability to, directly or indirectly, accept, acquire, sell, or attempt to sell or otherwise dispose of shares of Common Stock or rights to shares of Common Stock (e.g., RSUs) or rights linked to the value of shares of Common Stock during such times as the Participant is considered to have “inside information” regarding the Corporation (as defined by the laws in the applicable jurisdictions or the Participant’s country).  Local insider trading laws and regulations may prohibit the cancellation 
Page 14 of 53

or amendment of orders the Participant placed before possessing inside information.  Furthermore, the Participant may be prohibited from (i) disclosing the inside information to any third party, including fellow employees (other than on a “need to know” basis) and (ii) “tipping” third parties or causing them to otherwise buy or sell Corporation securities.  Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable Corporation insider trading policy.  The Participant is responsible for ensuring his or her compliance with any applicable restrictions and is advised to speak with his or her personal legal advisor on this matter.
The Participant’s country may have certain foreign asset and/or foreign account reporting requirements and exchange controls which may affect the Participant’s ability to acquire or hold shares of Common Stock acquired under the Plan or cash received from participating in the Plan (including from any dividends paid on shares acquired under the Plan) in a brokerage or bank account outside the Participant’s country.  The Participant may be required to report such accounts, assets or transactions to the tax or other authorities in the Participant’s country.  The Participant also may be required to repatriate sale proceeds or other funds received as a result of his or her participation in the Plan to the Participant’s country through a designated bank or broker within a certain time after receipt.  The Participant acknowledges that it is his or her responsibility to be compliant with such regulations, and that the Participant should consult his or her personal legal advisor for any details.
The Participant acknowledges that he or she has reviewed the Corporation’s Code of Conduct. The Participant further acknowledges that he or she understands and will comply with the terms and standards contained in that Code of Conduct, including but not limited to the prohibition against retaliation, and specifically acknowledges that he or she has an obligation to report suspected violations of the Code of Conduct pursuant to the Corporation’s Escalation Policy.

Conclusion and Acceptance

The Participant accepts this grant via electronic signature by clicking the "Accept" icon and certifies that he or she has read, understands and agrees to the terms and conditions of the 2021 Equity Participation Plan (the "Plan"), the provisions of the applicable Award Agreement and all other applicable documents (including any country-specific terms applicable to the Participant’s grant).  The Participant hereby authorizes the Employer to furnish the Corporation (and any agent administering the Plan or providing recordkeeping services) with such information and data as it shall request in order to facilitate the grant of Awards and enable administration of the Plan and the Participant understands that such information shall be used only as long and to the extent necessary to administer the Participant’s participation in the Plan. The Participant agrees that his or her participation in the Plan and the Awards granted to the Participant under the Plan will be governed solely by provisions of U.S. law.

Page 15 of 53

KIMBERLY-CLARK CORPORATION
ANNUAL TIME-VESTED RESTRICTED STOCK UNIT
AWARD AGREEMENT 

APPENDIX A

Certain capitalized terms used but not defined in this Appendix A have the meanings set forth in the Plan and/or the Award Agreement.  

This Appendix A includes additional terms and conditions that govern the Award granted to the Participant under the Plan if the Participant resides and/or works in any of the countries listed below.

This Appendix A also includes information regarding exchange controls and certain other issues of which the Participant should be aware with respect to the Participant’s participation in the Plan.  The information is based on the securities, exchange control and other laws in effect in the respective countries as of March 2021.  Such laws are often complex and change frequently.  As a result, the Participant should not rely on the information noted herein as the only source of information relating to the consequences of the Participant’s participation in the Plan because the information may be out of date at vesting of the Award or the subsequent sale of the shares or receipt of any dividends or dividend equivalents.

In addition, the information is general in nature and may not apply to the Participant’s particular situation, and the Corporation is not in a position to assure the Participant of any particular result.  Accordingly, the Participant is advised to seek appropriate professional advice as to how the relevant laws in the Participant’s country may apply to the Participant’s situation.

Finally, if the Participant is a citizen or resident of a country other than the one in which the Participant is currently residing and/or working, transferred or transfers employment and or residency after the Award is granted or is considered a resident of another country for local law purposes, the information contained herein may not be applicable to the Participant.  The Corporation shall, in its sole discretion, determine to what extent the terms and conditions included herein will apply to the Participant in such circumstances.

EUROPEAN ECONOMIC AREA (INCLUDING THE UNITED KINGDOM) AND SWITZERLAND

Data Protection
For Participants resident in a country in the European Economic Area, Switzerland or the United Kingdom, the following language replaces in its entirety the data privacy section in the Acknowledgment of Conditions section of the Award Agreement:
1. The Participant is hereby notified of the collection, use and transfer outside of the European Economic Area, as described in the Award Agreement, in electronic or other form, of his or her Personal Data (defined below) by and among, as applicable, the Corporation and certain of its Affiliates for the exclusive and legitimate 
Page 16 of 53

purpose of implementing, administering and managing the Participant’s participation in the Plan.  
2.The Participant understands that the Corporation and the Employer hold certain personal information about the Participant, including, but not limited to, the Participant’s name, home address and telephone number, email address, date of birth, social insurance number, passport or other identification number, salary, nationality, job title, any shares of Common Stock or directorships held in the Corporation, details of all entitlement to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor (“Personal Data”), for the purpose of implementing, administering and managing the Plan.
3.The Participant understands that providing the Corporation with this Personal Data is necessary for the performance of the Award Agreement and that the Participant's refusal to provide the Personal Data would make it impossible for the Corporation to perform its contractual obligations and may affect the Participant's ability to participate in the Plan.  The Participant's Personal Data shall be accessible within the Corporation only by the persons specifically charged with Personal Data processing operations and by the persons that need to access the Personal Data because of their duties and position in relation to the performance of the Award Agreement.  
4.The Personal Data will be held only as long as is necessary to implement, administer and manage the Participant’s participation in the Plan or as required to comply with legal or regulatory obligations, including under tax and security laws. This period may extend until the Participant’s employment or service with the Corporation is terminated, plus any additional time periods necessary for compliance with law, exercise or defense of legal rights, and archiving, back-up and deletion processes.  The Participant may, at any time and without cost, contact Long-term Incentive Plan Administration at Kimberly Clark, 351 Phelps Drive Irving, TX 75038, USA to enforce his or her rights under the data protection laws in the Participant's country, which may include the right to (i) request access or copies of Personal Data subject to processing; (ii) request rectification of incorrect Personal Data; (iii) request deletion of Personal Data; (iv) request restriction on processing of Personal Data; (v) request portability of Personal Data; (vi) lodge complaints with competent authorities in the Participant's country; and/or (vii) request a list with the names and addresses of any potential recipients of Personal Data.
5.The Corporation provides appropriate safeguards for protecting Personal Data that it receives in the U.S. through its adherence to data transfer agreements entered into between the Corporation and its Affiliates within the European Union. 
6.Further, the Participant understands that the Corporation will transfer Personal Data to Merrill Lynch and/or such other third parties as may be selected by the Corporation, which are assisting the Corporation with the implementation, administration and management of the Plan.  The Corporation may select a different service provider or additional service providers and share Personal Data with such other provider(s) serving in a similar manner.  The Participant may be asked to agree on 
Page 17 of 53

separate terms and data processing practices with the service provider, with such agreement being a condition to the ability to participate in the Plan.  
7.Merrill Lynch is based in the United States.  The Participant's country or jurisdiction may have different data privacy laws and protections than the United States.  Notwithstanding, by participating in the Plan, the Participant agrees to the transfer of his or her Personal Data to Merrill Lynch for the exclusive purpose of administering the Participant's participation in the Plan. The Corporation's legal basis, where required, for the transfer of Data to Merrill Lynch is the Participant's consent.    
8.Finally, the Participant may choose to opt out of allowing the Corporation to share his or her Personal Data with Merrill Lynch and others as described above, although execution of such choice may mean the Corporation cannot grant awards under the Plan to the Participant.  For questions about this choice or to make this choice, the Participant should contact Long-term Incentive Plan Administration at Kimberly Clark, 351 Phelps Drive Irving, TX 75038, USA.  
ARGENTINA

Securities Law Information
Neither the RSUs nor the underlying shares of Common Stock are publicly offered or listed on any stock exchange in Argentina.  
Foreign Asset/Account Reporting Information
Argentine residents must report any shares of Common Stock acquired under the Plan and held on December 31st of each year on their annual tax return for the year.
Exchange Control Information
Please note that exchange control regulations in Argentina are subject to frequent change.  The Participant should consult with his or her personal legal advisor regarding any exchange control obligations the Participant may have in connection with the Participant’s participation in the Plan.  The Participant must comply with any and all Argentine currency exchange restrictions, approvals and reporting requirements in connection with the vesting of the RSUs, the subsequent sale of any shares acquired at vesting and the receipt of any dividends paid on such shares.
AUSTRALIA
Australian Offer Document

The Participant acknowledges that he or she received an Australian offer document which sets out additional information regarding the grant of the award to Australian resident employees.

Tax Information 

The Plan is a plan to which Subdivision 83A-C of the Income Tax Assessment Act 1997 (Cth) applies (subject to conditions in the Act).
Page 18 of 53

Shutdown or Divestiture 

The following provision replaces Section 2(d) of the Award Agreement.

In the event that, after the Grant Date, the Participant’s termination of employment is due to the shutdown or divestiture of the Corporation’s or its Affiliate’s business, it shall result in pro-rata vesting, as determined by the Committee, and the number of shares that are considered to vest shall be shall be calculated as (1) the total number of RSUs granted under the Award minus the number of RSUs already vested under the Award multiplied by (2) the number of full months of employment during the Restricted Period divided by 36.  Any fractional share of the Corporation resulting from such a prorated award shall be rounded to the nearest whole share and shall be paid, along with any other shares earned under such prorated award, within 70 days following the Participant's termination of employment.  For the purposes of this Award, a shutdown or divestiture of the Corporation’s or its Affiliate’s business unit is defined as one for which the charges related to the shutdown or divestiture are accounted for, and reported externally, as an exit activity in the Corporation's applicable SEC filings.  The Corporation has complete discretion to determine whether a shutdown or divestiture of a business unit has occurred under the terms of the Plan.

Compliance with Laws

Notwithstanding anything else in the Plan or the Award Agreement, the Participant will not be entitled to and shall not claim any benefit under the Plan if the provision of such benefit would give rise to a breach of Part 2D.2 of the Corporations Act 2001 (Cth.) (the “Act”), any other provision of the Act, or any other applicable statute, rule or regulation which limits or restricts the giving of such benefits.  Further, the Employer is under no obligation to seek or obtain the approval of its shareholders in a general meeting for the purpose of overcoming any such limitation or restriction.

Exchange Control Information  

Exchange control reporting is required for cash transactions exceeding AUD 10,000 and for international fund transfers.  If an Australian bank is assisting with the transaction, the bank will file the report on the Participant’s behalf.  If there is no Australian bank involved in the transaction, the Participant will be required to file the report him or herself.

Securities Law Information

If the Participant acquires shares of Common Stock under the Plan and offers such shares for sale to a person or entity resident in Australia, the offer may be subject to disclosure requirements under Australian law.  The Participant should obtain legal advice on disclosure obligations prior to making such offer.

AUSTRIA

Exchange Control Information

Page 19 of 53

If the Participant holds shares of Common Stock obtained under the Plan or cash (including
proceeds from the sale of shares of Common Stock) outside of Austria, he or she may be
required to submit reports to the Austrian National Bank as follows: (i) on a quarterly basis if
the value of the shares of Common Stock as of any given quarter meets or exceeds €30,000;
and (ii) on an annual basis if the value of the shares of Common Stock as of December 31
meets or exceeds €5,000,000. The quarterly reporting date is as of the last day of the
respective quarter; the deadline for filing the quarterly report is the 15th day of the month
following the end of the respective quarter. The deadline for filing the annual report is January
31 of the following year.

When the shares of Common Stock are sold, the Participant may be required to comply with certain exchange control obligations if the cash proceeds from the sale are held outside of Austria.  If the transaction volume of all of the Participant’s accounts abroad meets or exceeds €10,000,000, the movements and balances of all accounts must be reported monthly, as of the last day of the month, on or before the 15th day of the following month. 

BAHRAIN

Securities Law Information

The Award Agreement, Plan and all other materials the Participant may receive regarding participation in the Plan do not constitute advertising or the offering of securities in Bahrain, nor do they constitute an allotment of securities in Bahrain.  Any shares of Common Stock issued upon settlement of the RSUs will be deposited into a Corporation-designated brokerage account outside Bahrain.  In no event will shares of Common Stock be issued or delivered in Bahrain.  The issuance of shares of Common Stock pursuant to the RSUs described herein has not and will not be registered in Bahrain and, hence, the shares of Common Stock described herein may not be admitted or used for offering, placement or public circulation in Bahrain.  Accordingly, the Participant may not make any public advertising or announcements regarding the RSUs or shares of Common Stock in Bahrain, promote these shares of Common Stock to legal entities or individuals in Bahrain, or sell shares of Common Stock directly to other legal entities or individuals in Bahrain.  Any disposition or sale of such shares of Common Stock must take place outside Bahrain.

BELGIUM

Foreign Asset/Account Reporting Information 

Belgian residents are required to report any securities (e.g., shares acquired under the Plan) or bank accounts opened and maintained outside Belgium (e.g., any brokerage account opened in connection with the Plan) on their annual tax returns.  Belgian residents are also required to complete a separate report providing the National Bank of Belgium with details regarding any such account, including the account number, the name of the bank in which such account is held and the country in which such account is located.  The forms to complete this report are available on the website of the National Bank of Belgium.  Belgian residents should consult with their personal tax advisors to determine their personal reporting obligations.

Page 20 of 53

Annual Securities Accounts Tax
If the value of securities held in a Belgian or foreign securities account exceeds EUR 1 million, a new “annual securities accounts tax” applies.  Belgian residents should consult with their personal tax advisor regarding the new tax.  

BOLIVIA

There are no country-specific provisions.  

BRAZIL

Compliance with Law  

By accepting the Award, the Participant acknowledges that he or she agrees to comply with applicable Brazilian laws and pay any and all applicable Tax-Related Items associated with the vesting of the RSUs, the conversion of the RSUs into shares or the receipt of an equivalent cash payment, the receipt of any dividends, and the sale of shares of Common Stock acquired under the Plan.

Labor Law Acknowledgment

By accepting the Award, the Participant agrees that (i) the Participant is making an investment decision; (ii) the shares of Common Stock will be issued to Participant only if the vesting and/or performance conditions are met, and (iii) the value of the underlying shares of Common Stock is not fixed and may increase or decrease in value over the vesting period without compensation to the Participant.

Exchange Control Information  

If the Participant is resident or domiciled in Brazil, he or she will be required to submit annually a declaration of assets and rights held outside of Brazil to the Central Bank of Brazil if the aggregate value of such assets and rights is equal to or greater than US$1,000,000.  Assets and rights that must be reported include shares of Common Stock, and may include RSUs.

Tax on Financial Transaction (IOF).  

Payments to foreign countries and repatriation of funds into Brazil (including proceeds from the sale) and the conversion of USD into BRL associated with such fund transfers may be subject to the Tax on Financial Transactions.  It is the Participant’s responsibility to comply with any 
Page 21 of 53

applicable Tax on Financial Transactions arising from the Participant’s participation in the Plan. The Participant should consult with his or her personal tax advisor for additional details.

CANADA

Securities Law Information

The Participant is permitted to sell shares acquired through the Plan through the designated broker appointed under the Plan, if any, provided the resale of shares acquired under the Plan takes place outside of Canada through the facilities of a stock exchange on which the shares are listed.  The Corporation’s shares are currently listed on New York Stock Exchange.

Acknowledgment of Conditions

The following provision supplements the Acknowledgment of Conditions section of the Award Agreement:

Except as may otherwise be explicitly provided in the Plan or this Award Agreement, for the purposes of this Award Agreement, the Participant's termination of employment will be measured effective as of the date that is the earlier of: (1) the date the Participant's employment is terminated, no matter how the termination arises; and (2) the date the Participant receives notice of termination of employment from the Employer. In either case, the date shall exclude any period during which notice, pay in lieu of notice or related payments or damages are provided or required to be provided under local law.  For greater certainty, the Participant will not earn or be entitled to any pro-rated vesting for that portion of time before the date on which the Participant's right to vest terminates, nor will the Participant be entitled to any compensation for lost vesting. Notwithstanding the foregoing, if applicable employment standards legislation explicitly requires continued vesting during a statutory notice period, the Participant's right to vest in the RSUs, if any, will terminate effective as of the last day of the Participant's minimum statutory notice period, but the Participant will not earn or be entitled to pro-rated vesting if the vesting date falls after the end of the Participant's statutory notice period, nor will the Participant be entitled to any compensation for lost vesting.  
Foreign Asset/Account Reporting Information  

Foreign specified property (including shares of Common Stock) held by Canadian residents must be reported annually on Form T1135 (Foreign Income Verification Statement) if the total cost of such foreign specified property exceeds C$100,000 at any time during the year.  Foreign specified property includes shares of Common Stock acquired under the Plan and may include the RSUs.  The RSUs must be reported - generally at a nil cost - if the $100,000 cost threshold is exceeded because of other foreign property the Participant holds.  If shares of Common Stock are acquired, their cost generally is the adjusted cost base (“ACB”) of the shares.  The ACB would normally equal the Fair Market Value of the shares at vesting, but if the Participant owns other shares, this ACB may have to be averaged with the ACB of the other shares owned by the Participant.  If due, the Form must be filed by April 30 of the following year.  The Participant should speak with a personal tax advisor to determine the scope of foreign property that must be considered for purposes of this requirement.

Page 22 of 53

The following provisions apply if the Participant is a resident of Quebec:  

Language Consent

The parties acknowledge that it is their express wish that the Award Agreement, as well as all documents, notices and legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English.

Les parties reconnaissent avoir exigé la rédaction en anglais de la convention, ainsi que de tous documents exécutés, avis donnés et procédures judiciaires intentées, directement ou indirectement, relativement à ou suite à la présente convention.

Authorization to Release and Transfer Necessary Personal Information

The Participant hereby authorizes the Corporation and the Corporation’s representatives, including the broker(s) designated by the Corporation, to discuss with and obtain all relevant information from all personnel, professional or not, involved in the administration and operation of the Plan.  The Participant further authorizes the Corporation, any Affiliate and the plan administrators to disclose and discuss the Plan with their advisors.  The Participant further authorizes the Corporation and any Affiliate to record such information and to keep such information in the Participant’s employee file.

CHILE

Securities Law Information

The RSUs are granted and are made subject to general ruling n° 336 of the Commission for the Financial Market (“CMF”).  This offer refers to securities not registered at the securities registry or at the foreign securities registry of the CMF, and therefore such securities are not subject to its oversight.  Given that these securities are not registered in Chile, there is no obligation from the issuer to provide public information on them in Chile.  These securities cannot be subject to public offering in Chile while they are not registered at the corresponding securities registry in Chile.

La oferta privada de estos RSUs se inicia y se acoge a las disposiciones de la norma de carácter general no 336 de la Comisón para el Mercado Financiero (“CMF”).  Esta oferta versa sobre valores no inscritos en el registro de valores o en el registro de valores extranjeros que lleva la CMF, por lo que tales valores no están sujetos a la fiscalización de ésta.  Por tratarse de valores no inscritos en Chile, no existe la obligación por parte del emisor de entregar en Chile información pública respecto de los mismos.  Estos valores no podrán ser objeto de oferta pública en Chile mientras no sean inscritos en el registro de valores correspondiente.

Exchange Control Information

The Participant is not required to repatriate funds obtained from the sale of shares or the receipt of any dividends.  However, if the Participant decides to repatriate such funds, the Participant must do so through the Formal Exchange Market if the amount of the funds 
Page 23 of 53

exceeds US$10,000.  In such case, the Participant must report the payment to a commercial bank or registered foreign exchange office receiving the funds. 

Foreign Asset/Account Reporting Information

The Chilean Internal Revenue Service (the “CIRS”) requires all taxpayers to provide
information annually regarding (i) the results of investments held abroad and (ii) any taxes paid
abroad which the taxpayers will use as a credit against Chilean income tax. The sworn
statements disclosing this information (or Formularios) must be submitted electronically
through the CIRS website, www.sii.cl, using Form 1929, which is due on July 1 each year.

CHINA

The following provisions apply only to Participants who are subject to exchange control restrictions imposed by the State Administration of Foreign Exchange ("SAFE"), as determined by the Corporation in its sole discretion:

Vesting of RSUs

The Participant's Employer, Corporation any other Affiliate to which the Participant provides service must be registered with SAFE prior to settlement of the RSUs.  If the Corporation is unable to obtain registration approval or is required to obtain further approvals on behalf of the Employer, Corporation or any other Affiliate, the vesting or settlement of the RSUs may be suspended or delayed. Further, the Corporation is under no obligation to vest the RSUs and/or issues shares of Common Stock if the Corporation’s SAFE approval becomes invalid or ceases to be in effect by the time the Participant vests in the RSUs. 
Shutdown or Divestiture 

The following provision replaces Section 2(d) of the Award Agreement.

In the event that the Participant’s termination of employment is due to the shutdown or divestiture of the Corporation’s or its Affiliate’s business, it shall result in pro-rata vesting, as determined by the Committee, and the number of shares that are considered to vest shall be shall be calculated as (1) the total number of RSUs granted under the Award minus the number of RSUs already vested under the Award multiplied by (2) the number of full months of employment during the Restricted Period divided by 36.  Any fractional share of the Corporation resulting from such a prorated award shall be rounded to the nearest whole share and shall be paid, along with any other shares earned under such prorated award, within 70 days following the Participant's termination of employment.  For the purposes of this Award, a shutdown or divestiture of the Corporation’s or its Affiliate’s business unit is defined as one for which the charges related to the shutdown or divestiture are accounted for, and reported externally, as an exit activity in the Corporation's applicable SEC filings.  The Corporation has complete discretion to determine whether a shutdown or divestiture of a business unit has occurred under the terms of the Plan.

Page 24 of 53

Termination of Employment

Except for a termination of employment due to the shutdown or divestiture of a business unit, as described above, and notwithstanding any other provision in the Award Agreement, the Participant shall forfeit any unvested Award, including any accrued dividend equivalents, upon any termination of employment including, but not limited to, any termination that is due to a Qualified Termination of Employment, death or Total and Permanent Disability. 

The Participant acknowledges and agrees that he or she must sell any shares of Common Stock issued to him or her upon vesting of the RSUs as soon as practicable following the Participant's termination of employment and in no event later than three months following the Participant's termination of employment.  The Participant agrees that if he or she continues to hold any of such shares of Common Stock after this time, the shares of Common Stock may be sold by the Corporation’s designated broker on the Participant's behalf at the instruction of the Corporation.  Therefore, by accepting the RSUs, the Participant understands and agrees that the Corporation is authorized to, and may in its sole discretion, instruct its designated broker to assist with the mandatory sale of shares of Common Stock (on the Participant’s behalf pursuant to this authorization) and that the Participant expressly authorizes the Corporation’s designated broker to complete the sale of such shares of Common Stock.  The Participant acknowledges that the Corporation’s designated broker is under no obligation to arrange for the sale of the shares of Common Stock at any particular price.  Upon the sale of the shares of Common Stock, the proceeds, less any Tax-Related Items and brokerage fees or commissions will be remitted to the Participant pursuant to the procedures described in the “Exchange Control Information” section below.

Exchange Control Information

Shares of Common Stock issued to the Participant under the Plan must be maintained in an account with Merrill Lynch or such other broker as may be designated by the Corporation until the shares of Common Stock are sold through that broker.  If the Corporation changes its broker, the Participant acknowledges and agrees that the Corporation may transfer any shares of Common Stock issued under the Plan to the new designated broker if necessary for legal or administrative reasons. The Participant agrees to sign any documentation necessary to facilitate the transfer.  In addition, the Participant may be required to sell any shares of Common Stock obtained under the Plan if the Corporation determines that the application of such condition is necessary or advisable for China SAFE exchange control, legal or other administrative reasons.
Page 25 of 53

The Participant understands and agrees that, to facilitate compliance with exchange control requirements, the Participant will be required to immediately repatriate to China the cash proceeds from the sale of shares of Common Stock acquired upon vesting of the RSUs or from any dividends or dividend equivalents paid on the shares of Common Stock.  The Participant further understands that, under local law, such repatriation of the cash proceeds will be effectuated through a special exchange control account established by the Corporation or one of its Affiliates in China, and the Participant hereby consents and agrees that the cash proceeds related to the Participant's participation in the Plan may be transferred to such special account prior to being delivered to the Participant.  The Corporation may deliver the proceeds to the Participant in U.S. dollars or local currency at the Corporation's discretion.  If the proceeds are paid in U.S. dollars, the Participant understands that he or she will be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited into this account. If the proceeds are converted to local currency, there may be delays in delivering the proceeds to the Participant.  The Participant agrees to bear the risk of any currency fluctuation between the time the shares of Common Stock are sold, either through voluntary sale or through a mandatory sale arranged by the Corporation, or proceeds are otherwise realized under the Plan and the time such proceeds are distributed to the Participant through the special exchange control account.
The Participant further agrees to comply with any other requirements that may be imposed by the Corporation in the future to facilitate compliance with exchange control requirements in China.
COLOMBIA
Securities Law Information
The shares of Common Stock are not and will not be registered in the Colombian registry of publicly traded securities (Registro Nacional de Valores y Emisores) and therefore the shares of Common Stock may not be offered to the public in Colombia.  Nothing in this document should be construed as the making of a public offer of securities in Colombia.  In the event that the Corporation, in its sole discretion, determines that the offer of the Awards in Colombia may constitute a “public offer of securities”, the Participant understands and agrees that the Corporation may, in its sole discretion, cease to offer participation in the Plan in Colombia.  In the event that the Corporation exercises its discretion to cease offering the Plan in Colombia, the Participant will no longer be permitted to participate in the Plan as of the date established by the Corporation.
Exchange Control Information  
Colombian residents must register shares of Common Stock acquired under the Plan, regardless of value, with the Central Bank of Colombia (Banco de la República) as foreign investment held abroad.  In addition, the liquidation of such investments must be transferred through the Colombian foreign exchange market (e.g. local banks), which includes the obligation of correctly completing and filing the appropriate foreign exchange form (declaración de cambio).  The Participant is responsible for complying with applicable exchange control requirements in Colombia.
Page 26 of 53

Foreign Asset/Account Reporting Information
The Participant must file an informative return with the Colombian Tax Office detailing any assets held abroad. If the individual value of any of these assets exceeds a certain threshold, the Participant must describe each asset and indicate the jurisdiction in which it is located, its nature and its value.
Acknowledgment of Conditions
The following provision supplements the Acknowledgment of Conditions section of the Award Agreement:
The Participant acknowledges that pursuant to Article 128 of the Colombian Labor Code, the Plan and related benefits do not constitute a component of the Participant's “salary” for any legal purpose.  To this extent, they will not be included for purposes of calculating any labor benefits, such as legal/fringe benefits, vacation, indemnities, payroll taxes, social insurance contributions and/or any other labor-related amount which may be payable.

COSTA RICA

There are no country-specific provisions.

CROATIA

Exchange Control Information

The Participant may be required to report any foreign investments (including any shares of Common Stock) to the Croatian National Bank for statistical purposes. However, because exchange control regulations may change without notice, the Participant should consult with his or her legal advisor to ensure compliance with current regulations.  It is the Participant’s responsibility to comply with Croatian exchange control laws. 

CZECH REPUBLIC

Exchange Control Information

The Czech National Bank may require the Participant to fulfill certain notification duties in relation to the acquisition of shares of Common Stock and the opening and maintenance of a foreign account (e.g., may be required to report foreign direct investment, financial credits from abroad, investment in foreign securities, and associated collections and payments).  However, because exchange control regulations change frequently and without notice, the Participant should consult with his or her personal legal advisor prior to the vesting of the RSUs and the sale of Common Stock to ensure compliance with current regulations.  It is the Participant’s responsibility to comply with any applicable Czech exchange control laws.

DOMINICAN REPUBLIC

There are no country-specific provisions.

Page 27 of 53

ECUADOR

There are no country-specific provisions.

EL SALVADOR

There are no country-specific provisions.

FRANCE

RSUs Not Tax-Qualified

The Participant understands that this Award is not intended to be French tax-qualified.

Consent to Receive Information in English

By accepting the Award Agreement providing for the terms and conditions of the Participant’s grant, the Participant confirms having read and understood the documents relating to this grant (the Plan and this Award Agreement) which were provided in English language.  The Participant accepts the terms of those documents accordingly.

En acceptant le Contrat d'Attribution décrivant les termes et conditions de l’attribution, le participant confirme ainsi avoir lu et compris les documents relatifs à cette attribution (le Plan U.S. et ce Contrat d'Attribution) qui ont été communiqués en langue anglaise.  Le participant accepte les termes en connaissance de cause.

Foreign Asset/Account Reporting Information

French residents holding shares of Common Stock outside of France or maintaining a foreign bank account are required to report such to the French tax authorities when filing their annual tax returns, including any accounts that were closed during the year.  Further, failure to comply could trigger significant penalties.

GERMANY

Exchange Control Information 

Cross-border payments in excess of €12,500 must be reported monthly to the German Federal Bank.  No report is required for payments less than €12,500.  In case of payments in connection with securities (including proceeds realized upon the sale of shares of Common Stock), the report must be made by the 5th day of the month following the month in which the payment was received.  Effective from September 2013, the report must be filed electronically.  The form of report (“Allgemeine Meldeportal Statistik”) can be accessed via the Bundesbank’s website (www.bundesbank.de) and is available in both German and English.  The Participant is responsible for satisfying the reporting obligation.

Foreign Asset/Account Reporting Information

If the Participant’s acquisition of shares of Common Stock leads to a so-called qualified 
Page 28 of 53

participation at any point during the calendar year, the Participant will need to report the acquisition when he or she files a tax return for the relevant year.  A qualified participation occurs only if (i) the Participant owns 1% or more of the Corporation and the value of the shares of Common Stock exceeds €150,000 or (ii) the Participant holds shares of Common Stock exceeding 10% of the Corporation’s total Common Stock.

GUATEMALA

Language Waiver

By participating in the Plan, the Participant acknowledges that he or she is proficient in reading and understanding English and fully understands the terms of the Plan, or, alternatively, that the Participant will seek appropriate assistance to understand the terms and conditions in the Award Agreement and this Appendix A.

HONDURAS

There are no country-specific provisions.  

HONG KONG

Securities Law Warning

The offer of this Award and the shares of Common Stock subject to this Award do not constitute a public offering of securities under Hong Kong law and are available only to employees of the Corporation or its Affiliates participating in the Plan.  The Participant should be aware that the Plan, the Plan prospectus and the contents of this Award Agreement (i) have not been prepared in accordance with and are not intended to constitute a “prospectus” for a public offering of securities under the applicable securities legislation in Hong Kong, (ii) have not been reviewed by any regulatory authority in Hong Kong, and (iii) are intended only for the personal use of each Participant and may not be distributed to any other person.  The Participant is advised to exercise caution in relation to the offer.  If the Participant is in any doubt about any of the contents of the Award Agreement, including this Appendix A, or the Plan, the Participant should obtain independent professional advice.

Award Payable Only in Shares

Awards granted to Participants in Hong Kong shall be paid in shares of Common Stock only and do not provide any right for the Participant to receive a cash payment.

Sale of Shares

In the event the Award vests within six months of the Grant Date, the Participant agrees that he or she will not offer to the public or otherwise dispose of the shares acquired prior to the six-month anniversary of the Grant Date.  Any shares of Common Stock acquired under the Plan are accepted as a personal investment.

Page 29 of 53

INDIA

Awards Payable in Cash Only

Notwithstanding anything in the Award Agreement, Awards granted to Participants in India do not provide any right for the Participant to receive shares of Common Stock and shall be paid only in cash through local payroll in an amount equal to the value of the shares at vesting less any Tax-Related Items.  The Participant agrees to bear any currency fluctuation risk between the time the Awards vest and the time the cash payment is distributed to the Participant.  The Corporation reserves the right to settle the Awards in shares of Common Stock to the extent the Corporation determines it is necessary or advisable for legal or administrative reasons.

INDONESIA

Exchange Control Information

If the Participant remits funds into Indonesia, the Indonesian bank through which the transaction is made will submit a report on the transaction to the Bank of Indonesia for statistical reporting purposes.  For transactions of US$10,000 or more, a description of the transaction must be included in the report.  Although the bank through which the transaction is made is required to make the report, the Participant must complete a “Transfer Report Form.”  The Transfer Report Form will be provided to the Participant by the bank through which the transaction is to be made.

Foreign Asset/Account Reporting Information
Indonesian residents have the obligation to report worldwide assets (including foreign accounts and shares of Common Stock acquired under the Plan) in their annual individual income tax return. 
Language Consent 
By accepting the RSUs, the Participant (i) confirms having read and understood the documents relating to the grant (i.e., the Plan and the Award Agreement) which were provided in the English language, (ii) accepts the terms of those documents accordingly, and (iii) agrees not to challenge the validity of this document based on Law No. 24 of 2009 on National Flag, Language, Coat of Arms and National Anthem or the implementing Presidential Regulation (when issued).

Persetujuan Bahasa

Dengan menerima pemberian Unit Saham Terbatas, anda (i) memberikan konfirmasi bahwa anda telah membaca dan memahami dokumen-dokumen berkaitan dengan pemberian ini (yaitu, Program dan Perjanjian) yang disediakan dalam Bahasa Inggris, (ii) menerima persyaratan di dalam dokumen-dokumen tersebut, dan (iii) setuju untuk tidak mengajukan keberatan atas keberlakuan dari dokumen ini berdasarkan Undang-Undang No. 24 Tahun 2009 tentang Bendera, Bahasa dan Lambang Negara serta Lagu Kebangsaan ataupun Peraturan Presiden sebagai pelaksanaannya (ketika diterbitkan).
Page 30 of 53

ISRAEL

Securities Law Information

The offer of this Award does not constitute a public offering under Securities Law, 1968.

Broker Designation

Shares of Common Stock issued to the Participant under the Plan must be maintained in an account with Merrill Lynch or such other broker as may be designated by the Corporation until the shares of Common Stock are sold through that broker.

Restricted from Online Brokerage Transactions

The Participant acknowledges and agrees that he or she will be restricted from online brokerage account transactions the Corporation’s designated broker. Therefore, by accepting the Awards, the Participant understands and agrees that the Participant will call the Corporation’s designated broker to initiate any sale or transfer of any shares of Common Stock issued to him or her upon vesting of the Awards. The Participant acknowledges that the Corporation’s designated broker is under no obligation to arrange for the sale of the shares of Common Stock at any particular price.

ITALY

Plan Document Acknowledgment  

In accepting the grant of this Award, the Participant acknowledges that he or she has received a copy of the Plan and the Award Agreement and has reviewed the Plan and the Award Agreement, including this Appendix A, in their entirety and fully understands and accepts all provisions of the Plan and the Award Agreement, including this Appendix A.  

The Participant acknowledges that he or she has read and specifically and expressly approves the following sections of the Award Agreement: Section 2(g) on Payment of Withholding Taxes; Section 5 on No Right of Continued Employment; Section 8 on Delaware Law to Govern; the section on Acknowledgment of Conditions; and the Data Privacy Notice section included in this Appendix A.

Foreign Asset/Account Reporting Information

Italian residents who, at any time during the fiscal year, hold foreign financial assets (including cash and shares of Common Stock) which may generate income taxable in Italy are required to report these assets on their annual tax returns (UNICO Form, RW Schedule) for the year during which the assets are held, or on a special form if no tax return is due.  These reporting obligations will also apply to Italian residents who are the beneficial owners of foreign financial assets under Italian money laundering provisions.

Page 31 of 53

Foreign Asset Tax Information

The value of financial assets held outside of Italy (including shares of Common Stock) by Italian residents is subject to a foreign asset tax.  The taxable amount will be the fair market value of the financial assets (e.g., shares of Common Stock acquired under the Plan) assessed at the end of the calendar year.

JAPAN

Foreign Asset/Account Reporting Information  

Japanese residents will be required to report to the Tax Office details of any assets (including any shares of Common Stock acquired under the Plan) held outside of Japan as of December 31st of each year, to the extent such assets have a total net fair market value exceeding ¥50 million.  Such report will be due by March 15th of the following year.  The Participant should consult with his or her personal tax advisor as to whether the reporting obligation applies to the Participant and whether the Participant will be required to report details of any outstanding RSUs or shares of Common Stock held by the Participant in the report.

KAZAKHSTAN

Securities Law Notification  

This offer is addressed only to certain eligible employees in the form of the shares of Common Stock to be issued by the Corporation.  Neither the Plan nor the Award Agreement has been approved, nor do they need to be approved, by the National Bank of Kazakhstan.  This offer is intended only for the original recipient and is not for general circulation in the Republic of Kazakhstan.

Exchange Control Information

Residents of Kazakhstan may be required to notify the National Bank of Kazakhstan when they acquire shares of Common Stock under the Plan if the value of such shares of Common Stock exceeds US$100,000.

Please note that the exchange control regulations in Kazakhstan are subject to change.  The Participant should consult with his or her personal legal advisor regarding any exchange control obligations that the Participant may have prior to vesting or receiving proceeds from the sale of shares of Common Stock acquired under the Plan.  The Participant is responsible for ensuring compliance with all exchange control laws in Kazakhstan.

KENYA

Tax Registration Notification

Under Tax Procedure Act, 2015, the Participant is required to complete and submit a tax registration application to the Commissioner of Income Tax with 30 days of first vesting of the RSUs.  The registration should be completed through the online portal “I TAX” and is a one-
Page 32 of 53

time only registration.  The Participant is solely responsible for ensuring compliance with all registration requirements in Kenya.

KOREA

Awards Payable in Cash Only

Notwithstanding anything in the Award Agreement, Awards granted to Participants in Korea do not provide any right for the Participant to receive shares of Common Stock and shall be paid only in cash through local payroll in an amount equal to the value of the shares at vesting less any Tax-Related Items.  The Participant agrees to bear any currency fluctuation risk between the time the Awards vest and the time the cash payment is distributed to the Participant.  The Corporation reserves the right to settle the Awards in shares of Common Stock to the extent the Corporation determines it is necessary or advisable for legal or administrative reasons.

MALAYSIA

Data Privacy Notice
This provision replaces in its entirety the data privacy section in the Acknowledgment of Conditions section of the Award Agreement:
The Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of the Participant's personal data as described in this Award Agreement by and among, as applicable, the Participant's Employer, the Corporation, and its other Affiliates for the exclusive purpose of implementing, administering and managing the Participant's participation in the Plan.
The Participant understands that the Corporation and the Participant's Employer may hold certain personal information about the Participant, including, but not limited to, the Participant's name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of Common Stock or directorships held in the Corporation, details of all Awards or any other entitlement to shares awarded, canceled, vested, unvested or outstanding in the Participant's favor (“Data”), for the purpose of implementing, administering and managing the Plan. 
The Participant understands that Data will be transferred to Merrill Lynch, or such other stock plan service provider as may be selected by the Corporation in the future, which is assisting the Corporation with the implementation, administration and management of the Plan.  The Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipients’ country (e.g., the United States) may have different data privacy laws and protections than the Participant's country.  The Participant understands that he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative LiLin.Ng@kcc.com at telephone number 603 78068288.  The Participant authorizes the Corporation, Merrill Lynch and any other possible recipients which may assist the Corporation (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain 
Page 33 of 53

and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing the Participant's participation in the Plan.  The Participant understands that Data will be held only as long as is necessary to implement, administer and manage the Participant's participation in the Plan.  The Participant understands that he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing his or her local human resources representative.  Further, the Participant understands that he or she is providing the consents herein on a purely voluntary basis.  If the Participant does not consent, or later seeks to revoke his or her consent, the Participant's employment status or service and career with the Employer will not be affected; the only consequence of refusing or withdrawing consent is that the Corporation would not be able to grant the Participant RSUs or other equity awards or administer or maintain such awards.  Therefore, the Participant understands that refusing or withdrawing consent may affect the Participant's ability to participate in the Plan.  For more information on the consequences of the Participant's refusal to consent or withdrawal of consent, the Participant understands that he or she may contact his or her local human resources representative.
Malaysian Translation:
Peserta dengan ini secara eksplisit dan tanpa sebarang keraguan mengizinkan pengumpulan, penggunaan dan pemindahan, dalam bentuk elektronik atau lain-lain, data peribadi Peserta seperti yang diterangkan dalam Perjanjian Penganugerahan dan apa-apa bahan geran opsyen lain oleh dan di antara, seperti mana yang terpakai, Majikan, Syarikat dan Anak-Anak Syarikat Sekutunya untuk tujuan ekslusif bagi melaksanakan, mentadbir dan menguruskan penyertaan peserta dalam Pelan. 
Peserta  memahami bahawa Syarikat dan Majikan mungkin memegang maklumat peribadi tertentu tentang Peserta , termasuk, tetapi tidak terhad kepada, nama Peserta , alamat rumah dan nombor telefon, tarikh lahir, nombor insurans sosial atau nombor pengenalan lain, gaji, kewarganegaraan, jawatan, apa-apa syer dalam saham atau jawatan pengarah yang dipegang di Syarikat,  butir-butir semua opsyen atau apa-apa hak lain atas syer dalam saham biasa yang diaugerahkan, dibatalkan, dilaksanakan, terletak hak, tidak diletak hak ataupun yang belum dijelaskan bagi  faedah Peserta  ("Data"), untuk tujuan eksklusif bagi melaksanakan, mentadbir dan menguruskan Pelan. 
Peserta memahami bahawa Data akan dipindahkan kepada Merrill Lynch, atau pembekal perkhidmatan pelan saham yang mungkin ditetapkan oleh Syarikat pada masa depan yang membantu Syarikat dengan pelaksanaan, pentadbiran dan pengurusan Pelan. Peserta memahami bahawa penerim a-penerima Data mungkin berada di Amerika Syarikat atau mana-mana tempat lain dan bahawa negara penerima-penerima (contohnya di Amerika Syarikat) mungkin mempunyai undang-undang privasi data dan perlindungan yang berbeza daripada negara Peserta. Peserta memahami bahawa Peserta boleh meminta satu senarai yang mengandungi nama dan alamat penerima-penerima Data yang berpotensi dengan menghubungi wakil sumber manusia tempatan Peserta LiLin.Ng@kcc.com, T: 603 78068288.  Peserta  memberi kuasa kepada Syarikat,  Merrill Lynch dan  mana-mana penerima-penerima lain yang mungkin membantu  Syarikat (pada masa sekarang atau pada masa depan) dengan 
Page 34 of 53

melaksanakan, mentadbir dan menguruskan Pelan untuk menerima, memiliki, menggunakan, mengekalkan dan memindahkan Data, dalam bentuk elektronik atau lain-lain, semata-mata dengan tujuan untuk melaksanakan, mentadbir dan menguruskan penyertaan Peserta  dalam Pelan. Peserta memahami bahawa Data hanya akan disimpan untuk tempoh yang perlu bagi melaksanakan, mentadbir, dan menguruskan penyertaan Peserta dalam Pelan. Peserta  memahami bahawa Peserta  boleh, pada bila-bila masa, melihat Data, meminta maklumat tambahan mengenai penyimpanan dan pemprosesan Data, meminta bahawa pindaan-pindaan dilaksanakan ke atas Data atau menolak atau menarik balik persetujuan dalam ini, dalam mana-mana kes, tanpa kos, dengan menghubungi secara bertulis wakil sumber manusia tempatan Peserta .  Peserta selanjutnya memahami bahawa Peserta memberi persetujuan ini secara sukarela. Sekiranya Peserta  tidak bersetuju, atau kemudian membatalkan persetujuan Peserta , status  pekerjaan atau perkhidmatan dan kerjaya Peserta  dengan  Majikan tidak akan terjejas; satunya akibat jika Peserta  tidak bersetuju atau menarik balik persetujuan Peserta  adalah bahawa Syarikat tidak akan dapat menganugerahkan kepada RSUs atau anugerah ekuiti lain atau mentadbir atau mengekalkan anugerah tersebut. Oleh itu, Peserta memahami bahawa keengganan atau penarikan balik persetujuan Peserta boleh menjejaskan keupayaan Peserta untuk mengambil bahagian dalam Pelan. Untuk maklumat lanjut mengenai akibat keengganan Peserta untuk memberikan keizinan atau penarikan balik keizinan, Peserta boleh menghubungi wakil sumber manusia tempatan.
Director Notification Obligation  
If the Participant is a director of the Corporation’s Malaysian Affiliate, the Participant is subject to certain notification requirements under the Malaysian Companies Act.  Among these requirements is an obligation to notify the Malaysian Affiliate in writing when the Participant receives or disposes of an interest (e.g., an Award or shares) in the Corporation or any related company.  Such notifications must be made within 14 days of receiving or disposing of any interest in the Corporation or any related company.
MEXICO

Modification

By accepting the Award, the Participant understands and agrees that any modification of the Plan or the Award Agreement or its termination shall not constitute a change or impairment of the terms and conditions of employment.

Acknowledgment of the Grant

In accepting the Award, the Participant acknowledges that the Participant has received a copy of the Plan and the Award Agreement, including this Appendix A, has reviewed the Plan and the Award Agreement, including this Appendix A, in their entirety and fully understands and accepts all provisions of the Plan and the Award Agreement, including this Appendix A.  The Participant further acknowledges that the Participant has read and specifically and expressly approves the Acknowledgment of Conditions section of the Award Agreement, in which the following is clearly described and established:

Page 35 of 53

    (1)    The Participant’s participation in the Plan does not constitute an acquired right.
    (2)    The Plan and the Participant’s participation in the Plan are offered by the Corporation on a wholly discretionary basis.
    (3)    The Participant’s participation in the Plan is voluntary.
    (4)    Neither the Corporation nor any Affiliates are responsible for any decrease in the value of the Award granted and/or shares of Common Stock issued under the Plan.

Labor Acknowledgment and Policy Statement

In accepting the grant of this Award, the Participant expressly recognizes that the Corporation, with registered offices at 351 Phelps Drive, Irving, Texas  75038, U.S.A., is solely responsible for the administration of the Plan and that the Participant’s participation in the Plan and acquisition of shares of Common Stock do not constitute an employment relationship between the Participant and the Corporation since the Participant is participating in the Plan on a wholly commercial basis and his or her sole Employer is  K-C AFC Manufacturing S. de R.L. de C.V. (“KCC-Mexico”).  Based on the foregoing, the Participant expressly recognizes that the Plan and the benefits that he or she may derive from participating in the Plan do not establish any rights between the Participant and the Employer, KCC-Mexico and do not form part of the employment conditions and/or benefits provided by KCC-Mexico, and any modification of the Plan or its termination shall not constitute a change or impairment of the terms and conditions of the Participant’s employment.

The Participant further understands that his or her participation in the Plan is as a result of a unilateral and discretionary decision of the Corporation; therefore, the Corporation reserves the absolute right to amend and/or discontinue the Participant’s participation at any time without any liability to the Participant.

Finally, the Participant hereby declares that he or she does not reserve to him- or herself any action or right to bring any claim against the Corporation for any compensation or damages regarding any provision of the Plan or the benefits derived under the Plan, and the Participant therefore grants a full and broad release to the Corporation, its Affiliates, branches, representation offices, its shareholders, officers, agents, or legal representatives with respect to any claim that may arise. 

Spanish Translation

Modificación

Al aceptar el Premio, el Participante entiende y acuerda que cualquier modificación al Plan o al Acuerdo o su terminación, no cambiará o disminuirá los términos y condiciones de empleo.

Reconocimiento del Otorgamiento

Al aceptar el Premio, el Participante está de acuerdo en haber recibido una copia del Plan, del Acuerdo incluyendo el presente Anexo “A” y ha revisado el Plan y el Acuerdo, incluyendo este Anexo “A” en su totalidad y comprende y acepta todas las disposiciones previstas en el Plan, en el Acuerdo, incluyendo el presente Anexo “A”.  Asimismo, el Participante reconoce que ha 
Page 36 of 53

leído y manifiesta su específica y expresa conformidad con los términos y condiciones establecidos del Acuerdo, en el cual claramente se describe y establece lo siguiente:

    (1)    La participación del Participante en el Plan no constituye un derecho adquirido.
    (2)    El Plan y la participación del Participante en el Plan se ofrecen por la Compañía de forma completamente discrecional.
    (3)    La participación del Participante en el Plan es voluntaria.
    (4)    Ni la Compañía ni sus Afiliadas son responsables por la reducción del valor del Premio y/o Acciones Ordinarias emitidas bajo el Plan.

Reconocimiento de la Legislación Laboral y Declaración de la Política 

Al aceptar el otorgamiento de este Premio, el Participante expresamente reconoce que Kimberly-Clark Corporación con oficinas registradas en 351 Phelps Drive, Irving, Texas  75038, EE.UU., es la única responsable por la administración del Plan y que la participación del Participante en el Plan y en su caso la adquisición de las Opciones de Compra de Acciones o Acciones no constituyen ni podrán interpretarse como una relación de trabajo entre el Participante y Kimberly-Clark Corporación, ya que el Participante participa en el Plan en un marco totalmente comercial y su único Patrón lo es K-C AFC Manufacturing S. de R.L. de C.V. (“KCC-Mexico”).  Derivado de lo anterior, el Participante expresamente reconoce que el Plan y los beneficios que pudieran derivar de la participación en el Plan no establecen derecho alguno entre el Participante y el Patrón, KCC-Mexico y no forma parte de las condiciones de trabajo y/o las prestaciones otorgadas por KCC-Mexico y que cualquier modificación al Plan o su terminación no constituye un cambio o impedimento de los términos y condiciones de la relación de trabajo del Participante.

Asimismo, el Participante reconoce que su participación en el Plan es resultado de una decisión unilateral y discrecional de Kimberly-Clark Corporación por lo tanto, Kimberly-Clark Corporación se reserva el absoluto derecho de modificar y/o terminar la participación del Participante en cualquier momento y sin responsabilidad alguna frente el Participante.

Finalmente, el Participante por este medio declara que no se reserva derecho o acción alguna que ejercitar en contra de Kimberly-Clark Corporación por cualquier compensación o daño en relación con las disposiciones del Plan o de los beneficios derivados del Plan y por lo tanto, el Participante otorga el más amplio finiquito que en derecho proceda a Kimberly-Clark Corporación, sus afiliadas, subsidiarias, oficinas de representación, sus accionistas, funcionarios, agentes o representantes legales en relación con cualquier demanda que pudiera surgir. 

MOROCCO

Awards Payable in Cash Only

Notwithstanding anything in the Award Agreement, Awards granted to Participants in Morocco do not provide any right for the Participant to receive shares of Common Stock and shall be paid only in cash through local payroll in an amount equal to the value of the shares at vesting less any Tax-Related Items.  The Participant agrees to bear any currency fluctuation risk between the time the Awards vest and the time the cash payment is distributed to the Participant.  The Corporation reserves the right to settle the Awards in shares of Common 
Page 37 of 53

Stock to the extent the Corporation determines it is necessary or advisable for legal or administrative reasons.

NETHERLANDS

There are no country-specific provisions 

NEW ZEALAND

Securities Law Information

The Participant is being offered RSUs which, if vested, will entitle the Participant to acquire shares of Common Stock in accordance with the terms of the Award Agreement and the Plan.  The shares of Common Stock, if issued, will give the Participant a stake in the ownership of the Corporation.  The Participant may receive a return if dividends are paid.

If the Corporation runs into financial difficulties and is wound up, the Participant will be paid only after all creditors and holders of preferred shares (if any) have been paid.  The Participant may lose some or all of the Participant’s investment, if any.

New Zealand law normally requires people who offer financial products to give information to investors before they invest.  This information is designed to help investors to make an informed decision.  The usual rules do not apply to this offer because it is made under an employee share scheme.  As a result, the Participant may not be given all the information usually required.  The Participant will also have fewer other legal protections for this investment.  The Participant is advised to ask questions, read all documents carefully, and seek independent financial advice before committing.

The shares of Common Stock are quoted on the New York Stock Exchange (“NYSE”).  This means that if the Participant acquires shares of Common Stock under the Plan, the Participant may be able to sell the shares of Common Stock on the NYSE if there are interested buyers.  The Participant may get less than the Participant invested.  The price will depend on the demand for the shares of Common Stock.

For a copy of the Corporation’s most recent financial statements (and, where applicable, a copy of the auditor’s report on those financial statements), as well as information on risk factors discussion on the Corporation’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are filed with the U.S. Securities and Exchange Commission and are available online at www.sec.gov, as well as on the Corporation’s “Investor Relations” website at http://investor.kimberly-clark.com/index.cfm.

NICARAGUA

There are no country-specific provisions.

NIGERIA

There are no country-specific provisions.

Page 38 of 53

PANAMA

Securities Law Information

Neither this Award nor any shares of Common Stock that the Participant may acquire at vesting of this Award constitute a public offering of securities, as they are available only to eligible employees of the Corporation and its Affiliates.

PARAGUAY

There are no country-specific provisions.  

PERU

Securities Law Information

The offer of this Award is considered a private offering in Peru; therefore, it is not subject to registration in Peru.  For more information concerning the offer, please refer to the Plan, the Award Agreement and any other materials or documentation made available by the Corporation.  For more information regarding the Corporation, please refer to the Corporation’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are filed with the U.S. Securities and Exchange Commission and are available at www.sec.gov, as well as the Corporation’s “Investor Relations” website at: http://investor.kimberly-clark.com/

Labor Law Acknowledgment

By accepting the Award, the Participant acknowledges that the RSUs are being granted ex gratia to the Participant. 

PHILIPPINES

Awards Payable in Cash Only

Notwithstanding anything in the Award Agreement, Awards granted to Participants in the Philippines do not provide any right for the Participant to receive shares of Common Stock and shall be paid only in cash in an amount equal to the value of the shares at vesting less any Tax-Related Items.  The Participant agrees to bear any currency fluctuation risk between the time the Awards vest and the time the cash payment is distributed to the Participant.  The Corporation reserves the right to settle the Awards in shares of Common Stock to the extent the Corporation determines it is necessary or advisable for legal or administrative reasons.

Fringe Benefit Tax Obligation

By accepting the Award, the Participant consents and agrees to assume any and all liability for fringe benefit tax that may be payable by the Corporation and/or the Employer (as determined by the Corporation or the Employer in their discretion) in connection with the Award and any awards previously granted by the Corporation.  Further, by accepting the Award, the Participant agrees that the Corporation and/or the Employer may collect the fringe benefit tax from the Participant by any of the means set forth in the Acknowledgment of Conditions 
Page 39 of 53

section of the Award Agreement, or any other reasonable method established by the Corporation.  The Participant agrees to execute other consents or elections to accomplish the foregoing, promptly upon request by the Corporation or the Employer.

POLAND

Foreign Asset/Account Reporting Information
Polish residents holding foreign securities (e.g., shares of Common Stock) and/or maintaining accounts abroad must report information to the National Bank of Poland on transactions and balances regarding such securities and cash deposited in such accounts if the value of such securities and cash (when combined with all other assets possessed abroad) exceeds certain thresholds. If required, the reports must be filed on a quarterly basis on special forms that are available on the website of the National Bank of Poland. Polish residents should consult with their personal tax advisor to determine their personal reporting obligations.

Exchange Control Information
Transfers of funds into and out of Poland in excess of €15,000 (or PLN 15,000 if such transfer of funds is connected with business activity of an entrepreneur) must be made via a bank account held at a bank in Poland.  Additionally, Polish residents are required to store all documents connected with any foreign exchange transactions that Polish residents are engaged in for a period of five years, as measured from the end of the year in which such transaction occurred.
PORTUGAL

Language Consent

The Participant hereby declares that the Participant has full knowledge of the English language and has read, understood and fully accepted and agreed with the terms and conditions established in the Plan and Award Agreement. 

Por meio do presente, eu declaro expressamente que tem pleno conhecimento da língua Inglesa e que li, compreendi e livremente aceitei e concordei com os termos e condições estabelecidas no Plano e no Acordo.

Exchange Control Information  

If the Participant receives shares of Common Stock, the acquisition of shares of Common Stock should be reported to the Banco de Portugal for statistical purposes.  If the shares of Common Stock are deposited with a commercial bank or financial intermediary in Portugal, such bank or financial intermediary will submit the report on the Participant’s behalf.  If the shares of Common Stock are not deposited with a commercial bank or financial intermediary in Portugal, the Participant is responsible for submitting the report to the Banco de Portugal.

PUERTO RICO

There are no country specific provisions.
Page 40 of 53

RUSSIA
Securities Law Information
This Award Agreement, the Plan and all other materials the Participant may receive regarding participation in the Plan do not constitute advertising or an offering of securities in Russia.  Absent any requirement under local law, the issuance of shares of Common Stock under the Plan has not and will not be registered in Russia and hence the shares described in any Plan-related documents may not be offered or placed in public circulation in Russia. 
US Transaction
The Participant understands that the RSUs and any shares of Common Stock under the Plan are to be issued and sold solely in the United States. Any shares of Common Stock issued to the Participant upon vesting of the RSUs shall be delivered to the Participant’s brokerage account in the United States, where such shares of Common Stock must be held until the time of sale.  In no event will shares of Common Stock be delivered to the Participant in Russia. 
Exchange Control Information  
All restrictions on the payment of funds by non-residents into a Russian resident’s declared foreign brokerage account, including dividends and proceeds from the sale of shares of Common Stock have been abolished. Russian residents may now receive, hold and remit dividends and proceeds from the sale of shares (including shares of Common Stock acquired under the Plan) into and out of a brokerage account without any requirement to first repatriate such funds to an authorized bank in Russia. The Participant should be aware that the rules related to foreign bank accounts are different and that certain restrictions with respect to payments by non-residents into a Russian currency resident’s foreign bank account may continue to apply where the foreign bank account is located in the U.S. The Participant should contact his or her personal advisor to confirm the application of the exchange control restrictions prior to vesting in the RSUs and selling shares of Common Stock, as significant penalties may apply in the case of non-compliance with the exchange control restrictions and because such exchange control restrictions are subject to change.
Foreign Asset/Account Reporting Information
Russian residents are required to report the opening, closing or change in account details of any foreign bank account to the Russian tax authorities within one month of the opening, closing or change of such account. Russian residents are also required to report to the Russian tax authorities on or before June 1 of the following year (i) the beginning and ending balances in a foreign bank account each year and (ii) transactions related to such foreign account during the year. Foreign brokerage accounts and foreign accounts with other financial institutions (financial market organizations) must also be reported. Certain specific exemptions from reporting requirements may apply. The Participant should consult with his or her personal legal advisor to determine how these reporting requirements may apply to any account opened in connection with the Participant’s participation in the Plan.
Data Privacy Notice  
Page 41 of 53

This provision supplements the Data Privacy section in the Acknowledgment and Conditions section of the Award Agreement:
The Participant understands and agrees that he or she must complete and return a Consent to Processing of Personal Data (the “Consent”) form to the Corporation if requested.  Further, the Participant understands and agrees that if the Participant does not complete and return a Consent form to the Corporation if requested, the Corporation will not be able to grant RSUs to the Participant or other awards or administer or maintain such awards.  Therefore, the Participant understands that refusing to complete a Consent form or withdrawing his or her consent may affect the Participant’s ability to participate in the Plan.
Anti-Corruption Information
Anti-corruption laws prohibit certain public servants, their spouses and their dependent children from owning any foreign source financial instruments (e.g., shares of foreign companies such as the Corporation).  Accordingly, the Participant should inform the Corporation if he or she is covered by these laws because the Participant should not hold shares of common stock acquired under the Plan.
Labor Law Information
If the Participant continues to hold shares of Common Stock acquired at vesting of the RSUs after an involuntary termination of employment, he or she may not be eligible to receive unemployment benefits in Russia.
SINGAPORE
Sale Restriction  
The Participant agrees that any shares of Common Stock acquired pursuant to the RSUs will not be offered for sale in Singapore prior to the six-month anniversary of the Grant Date, unless such sale or offer is made pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the Securities and Futures Act (Chapter 289, 2006 Ed.) (“SFA”), or pursuant to, and in accordance with the conditions of, any other applicable provisions of the SFA.
Securities Law Information
The grant of the RSUs is being made pursuant to the “Qualifying Person” exemption” under section 273(1)(f) of the SFA under which it is exempt from the prospectus and registration requirements and is not made with a view to the underlying shares of Common Stock being subsequently offered for sale to any other party.  The Plan has not been and will not be lodged or registered as a prospectus with the Monetary Authority of Singapore.  
Director Notification Obligation
If the Participant is a director, associate director or shadow director of the Corporation’s Singapore Affiliate, the Participant is subject to certain notification requirements under the Singapore Companies Act.  Among these requirements is an obligation to notify the 
Page 42 of 53

Corporation’s Singapore Affiliate in writing when the Participant receives an interest (e.g., an Award or shares) in the Corporation or any Affiliate.  In addition, the Participant must notify the Corporation’s Singapore Affiliate when he or she sells shares of the Corporation or of any Affiliate (including when the Participant sells shares issued upon vesting and settlement of the Award).  These notifications must be made within two business days of (i) acquiring or disposing of any interest in the Corporation or any Affiliate, or (ii) any change in a previously-disclosed interest (e.g., upon vesting of the Award or when shares of Common Stock acquired under the Plan are subsequently sold).  In addition, a notification of the Participant’s interests in the Corporation or any Affiliate must be made within two business days of becoming a director, associate director or shadow director.
SLOVAK REPUBLIC
Foreign Asset/Account Reporting Information

If the Participant permanently resides in the Slovak Republic and, apart from being employed, carries on business activities as an independent entrepreneur (in Slovakian, podnikatel), the Participant will be obligated to report his or her foreign assets (including any foreign securities) to the National Bank of Slovakia (provided that the value of the foreign assets exceeds an amount of €2,000,000).  These reports must be submitted on a monthly basis by the 15th day of the respective calendar month, as well as on a quarterly basis by the 15th day of the calendar month following the respective calendar quarter, using notification form DEV (NBS) 1-12, which may be found at the National Bank of Slovakia’s website at www.nbs.sk.  

SLOVENIA

There are no country-specific provisions. 

SOUTH AFRICA

Tax Acknowledgment

By accepting the Award, the Participant agrees to notify the Employer of the amount of any gain realized upon vesting of the Award.  If the Participant fails to advise the Employer of the gain realized upon vesting, the Participant may be liable for a fine.  The Participant will be responsible for paying any difference between the actual tax liability and the amount withheld.

Exchange Control Information

To participate in the Plan, the Participant must comply with exchange control regulations and rulings (the “Exchange Control Regulations”) in South Africa. 

Because the Exchange Control Regulations change frequently and without notice, the Participant understands that he or she should consult a legal advisor prior to the acquisition or sale of shares under the Plan to ensure compliance with current regulations.  The Participant understands that it is his or her responsibility to comply with South African exchange control laws, and neither the Corporation nor the Employer will be liable for any fines or penalties resulting from failure to comply with applicable laws.

Page 43 of 53

Securities Law Information

In compliance with South African securities law, the Participant acknowledges that the documents listed below are available for review at the addresses listed below:

a)The Corporation's most recent annual financial statements: http://investor.kimberly-clark.com/sec.cfm?DocType=Annual&Year=

b)The Corporation's most recent Plan prospectus may be accessed online through Merrill Lynch, or such other stock plan service provider as may be selected by the Corporation in the future, at www.mybenefits.ml.com in the Document Library.

A copy of the above documents will be sent free of charge upon written request to Stock Plan Administrator, P.O. Box 619100, Dallas, Texas 75261-9100.  In addition, the Participant should contact his or her tax advisor for specific information concerning his or her personal tax situation with regard to Plan participation.

Confidentiality and Restraint of Trade Covenants

1.    During the continuance of the Participant’s employment with the Employer and indefinitely thereafter, the Participant undertakes to maintain the confidentiality of, and not to divulge to any person (without the prior consent of the Participant’s manager or as required by law), any of the Corporation's or any Affiliate's trade secrets or Confidential Information (as defined herein), nor use the same for any other purpose, other than to carry out the Participant’s functions as an employee of the Corporation or the Participant’s Employer.  The Participant shall use all personal endeavours to prevent publication or disclosure of such trade secrets and Confidential Information.  “Confidential Information,” for purposes of these covenants, shall mean information in whatever form (including, without limitation, in written, oral, visual or electronic form or on any magnetic or optical disk or memory and wherever located) relating to the business, suppliers, customers, products, affairs and finances of the Corporation or any Affiliate for the time being confidential to the Corporation or any Affiliate, and trade secrets including, without limitation, technical data and know-how relating to the business of the Corporation or any Affiliate, or any of their suppliers, customers, agents, distributors, shareholders or management, including (but not limited to) business plans, pricing strategies, financial information, patent applications, information concerning tenders and potential contracts, information concerning proposed product ranges, product development information, employee and salary information, research and development activities or manufacturing methods that the Participant creates, develops, receives, obtains or has knowledge of in connection with the Participant’s employment, and all other matters which relate to the business of the Corporation and in respect of which information is not readily available in the ordinary course of such business to the Corporation's Competitors, whether or not such information (if in anything other than oral form) is marked confidential.  “Competitor,” for purposes of these covenants, shall mean any person, firm or company or other entity carrying out or conducting business in competition with or so as to create competition directly or indirectly with the Corporation or any Affiliate.
2.    Without derogating from the applicability of the foregoing, during the Participant’s employment with the Corporation or any Affiliate, it is recognised that the Participant may have 
Page 44 of 53

access to trade secrets and information of a highly confidential nature, including Confidential Information, the disclosure of which after termination of employment could seriously harm the interests of the Corporation or an Affiliate.  The Participant shall not at any time after termination of employment (otherwise than as required by law) divulge to any person any trade secret or Confidential Information which is the property of the Corporation or any Affiliate.
3.    During the Participant’s employment by the Corporation or the Employer, it is acknowledged that the Participant will acquire highly confidential information, including Confidential Information, and should the Participant’s employment cease, it may be difficult to police clause 2 above, prohibiting the disclosure of such information.  It is further acknowledged that it may be difficult to police the non-solicitation and dealing clauses set out below. 
4.    Having regard to clauses 2 and 3 above and in order to preserve and protect the Corporation or any Affiliate’s proprietary interests in the trade secrets and other Confidential Information, the Participant shall not, for the duration of the Restraint Period, anywhere in the Prescribed Area, become employed by or be directly or indirectly interested, engaged or concerned in any manner whatsoever, whether as principal, agent, partner, representative, member, shareholder, director, employee, consultant, advisor, financier, administrator or in any like capacity in any concern or business carried on by a Competitor, and/or provide and/or supply any type of product and/or render any type of service that is identical or similar to the products provided or services rendered by the Corporation or any Affiliate in any Restricted Business.  “Restraint Period,” for purposes of these covenants, means the term during which the Participant is employed by the Corporation or an Affiliate and a period of 12 months (less any period of garden leave) after the termination date.  “Prescribed Area,” for purposes of these covenants, means (1) each province in the Republic of South Africa, or any province, state, or other distinct geographical area in any other country in which the Corporation or any Affiliate (a) does business as at the termination date or had done business during the period of twelve (12) months preceding the termination date; and/or (b) has customers or clients as at the termination date, or had customers or clients during the period of twelve (12) months preceding the termination date, and in which the Participant had undertaken substantive work or been substantively involved in supervising work pertaining to, on behalf of the Corporation or any Affiliate, as at the termination date or any time during the 12 month period preceding the termination date. “Restricted Business,” for purposes of these covenants, means any business activity carried out by the Participant either directly or indirectly for the Corporation or any Affiliate during the 12 month period preceding the termination date. 
5.    The Participant shall not during the period of 12 months after the termination date, either directly or indirectly, on the Participant’s own behalf or on behalf of any other person, firm or company or other entity, solicit, interfere with, entice or endeavour to entice away from the Corporation or any Affiliate any Restricted Customer, or seek to conduct Restricted Business, or conduct Restricted Business, with any Restricted Customer and/or otherwise persuade, induce, solicit or encourage any person or entity to terminate its contractual relationship with the Corporation or any Affiliate.  “Restricted Customer,” for purposes of these covenants, means any person, firm or company or other entity who was a customer or distributor of the Corporation or any Affiliate as at the termination date, or during the 12 month period preceding the termination date, including any Prospective Customer.  “Prospective Customer,” for purposes of these covenants, means any person, firm or company or other entity with whom the Corporation or any Affiliate was involved in negotiations as at the termination date or during the 12 month period preceding the termination date, with a view to 
Page 45 of 53

dealing with it as a customer and/or to conclude a contractual relationship with such entity, and/or with whom the Participant had contact at the termination date or during the 12 month period preceding the termination date with a view to dealing with it as a customer of the Corporation or any Affiliate and/or to conclude a contractual relationship with such entity.
6.    The Participant shall not during the period of 12 months after the termination date directly or indirectly induce or be involved in the recruitment of any person who was an employee of the Corporation or any Affiliate at the termination date and with whom the Participant had material dealings during the 12 month period preceding the termination date to leave the employment of the Corporation or any Affiliate.  Furthermore, the Participant shall not during the period of 12 months after the termination date directly or indirectly induce or be involved in the recruitment of any person who was an employee of the Corporation or any Affiliate at the termination date and with whom the Participant had material dealings during the 12 month period preceding the termination date to become employed by, associated with and/or form part of any business or concern, in any capacity whatsoever, of any Competitor. The Participant must inform the Corporation immediately on becoming aware of any such recruitment.
7.    The Participant acknowledges that the:
(a)    restraints imposed upon the Participant in terms of the above clauses (“restraints”) are reasonable as to subject matter and duration, and are reasonably necessary in order to preserve and protect the goodwill applicable to the business of the Corporation;
(b)    provisions of clauses 4 and 5 shall be construed as imposing separate and independent restraints in respect of:
(i)    each of the periods falling within the Restraint Period;
(ii)    every activity falling within the ambit of a competitive business or Restricted Business; and 
(iii)    every capacity, in relation to a competitive business or Restricted Business, in which the Participant is prohibited from engaging in terms of clause 4;
(iv)    each of the areas falling within the Prescribed Area;
(v)    each entity which is an Affiliate, from time to time.
8.    In this Award Agreement, references to acting directly or indirectly include acting jointly with or through another person.
9.    Each of the restrictions contained in this Award Agreement is intended to be separate and severable.  In the event of any of the restrictions shall be held to be void, but would be valid if part of the wording was deleted, such restriction shall apply with such deletion as may be necessary to make it valid and effective.

SPAIN

Securities Law Information
No “offer of securities to the public,” as defined under Spanish law, has taken place or will take place in the Spanish territory in connection with the grant of the Award.  The Award Agreement 
Page 46 of 53

(including this Appendix A) has not been, nor will it be, registered with the Comisión Nacional del Mercado de Valores, and does not constitute a public offering prospectus.

Labor Law Acknowledgment

By accepting the Award, the Participant acknowledges that he or she understands and agrees to participation in the Plan and that he or she has received a copy of the Plan.

The Participant understands that the Corporation has unilaterally, gratuitously and discretionally decided to grant Awards under the Plan to individuals who may be employees of the Corporation or its Affiliates throughout the world.  The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Corporation or any of its Affiliates on an ongoing basis.  Consequently, the Participant understands that any grant is given on the assumption and condition that it shall not become a part of any employment contract (either with the Corporation or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever.  Further, the Participant understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from any gratuitous and discretionary grant since the future value of the Award and the underlying shares is unknown and unpredictable.  In addition, the Participant understands that this grant would not be made but for the assumptions and conditions referred to above; thus,  the Participant understands, acknowledges and freely accepts that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason, then the Award shall be null and void.  
Further, the Participant understands that the Award is a conditional right.  Participant shall forfeit any unvested Award upon termination of employment unless such termination is (i) due to a Qualified Termination of Employment, or (ii) due to death, Total and Permanent Disability, or the shutdown or divestiture of a business unit. Vesting will cease, for example, regardless of whether  (1) the Participant is considered to be unfairly dismissed without good cause (i.e., subject to a “despido improcedente”); (2) the Participant is dismissed for disciplinary or objective reasons or due to a collective dismissal; (3) the Participant terminates his or her  employment or service relationship due to a change of work location, duties or any other employment or contractual condition; and (4) the Participant terminates his or her employment or service relationship due to a unilateral breach of contract by the Corporation or an Affiliate.  Consequently, upon termination of the Participant’s employment or service relationship for any of the above reasons, the Participant may automatically lose any rights to the RSUs that were not vested on the date of termination of the Participant’s employment or service relationship, as described in the Plan and the Award Agreement.
Exchange Control Information  
The acquisition, ownership and sale of shares of Common Stock under the Plan must be declared to the Spanish Dirección General de Comercio e Inversiones (the “DGCI”), which is a department of the Ministry of Economy and Competitiveness.  The Participant must also declare ownership of any shares of Common Stock by filing a Form D-6 with the Directorate of Foreign Transactions each January while the shares of Common Stock are owned.  In addition, the sale of shares of Common Stock must also be declared on Form D-6 filed with the DGCI in January, unless the sale proceeds exceed the applicable threshold (currently 
Page 47 of 53

€1,502,530) (or the Participant holds 10% or more of the share capital of the Corporation or such other amount that would entitle the Participant to join the Corporation's Board of Directors), in which case, the filing is due within one month after the sale.
When receiving foreign currency payments derived from the ownership of shares of Common Stock (e.g., sale proceeds) exceeding €50,000, the Participant must inform the financial institution receiving the payment of the basis upon which such payment is made.  The Participant will need to provide the institution with the following information: (i) the Participant’s name, address, and tax identification number; (ii) the name and corporate domicile of the Corporation; (iii) the amount of the payment; the currency used; (iv) the country of origin; (v) the reasons for the payment; and (vi) further information that may be required.
Spanish residents are required to declare electronically to the Bank of Spain any foreign accounts (including brokerage accounts held abroad), any foreign instruments (including any shares of Common Stock acquired under the Plan) and any transactions with non-Spanish residents (including any payments of shares of Common Stock made to the Participant by the Corporation or through a U.S. brokerage account) if the value of the transactions for all such accounts during the prior year or the balances in such accounts as of December 31 of the prior year exceeds €1,000,000.  If neither the total balances nor total transactions with non-residents during the relevant period exceed €50,000,000, a summarized form declaration may be used.  More frequent reporting is required if such transaction value or account balance exceeds €100,000,000.
Foreign Asset/Account Reporting Information
If the Participant holds rights or assets (e.g., shares of Common Stock or cash held in a bank or brokerage account) outside of Spain with a value in excess of €50,000 per type of right or asset (e.g., shares of Common Stock, cash, etc.) as of December 31 each year, the Participant is required to report certain information regarding such rights and assets on tax form 720.  After such rights and/or assets are initially reported, the reporting obligation will only apply for subsequent years if the value of any previously-reported rights or assets increases by more than €20,000 or if the ownership of the assets is transferred or relinquished during the year.  The reporting must be completed by the following March 31. 
SWITZERLAND

Securities Law Information

Neither this document nor any other materials relating to the Awards (i) constitutes a prospectus according to articles 35 et seq. of the Swiss Federal Act on Financial Services (“FinSA”) (ii) may be publicly distributed or otherwise made publicly available in Switzerland to any person other than a participant or (iii) has been or will be filed with, approved or supervised by any Swiss reviewing body according to article 51 FinSA or any Swiss regulatory authority, including the Swiss Financial Market Supervisory Authority (“FINMA”).

Page 48 of 53

TAIWAN

Data Privacy

The following provision supplements the data privacy section in the Acknowledgment of Conditions section of the Award Agreement:

The Participant acknowledges that he or she has read and understands the terms regarding collection, processing and transfer of data contained in the Acknowledgment of Conditions section of the Award Agreement and, by participating in the Plan the Participant agrees to such terms.  In this regard, upon request of the Corporation or the Employer, the Participant agrees to provide any executed data privacy consent form to the Employer or the Corporation (or any other agreements or consents that may be required by the Employer or the Corporation) that the Corporation and/or the Employer may deem necessary to obtain under the data privacy laws now or in the future.  The Participant understands that he or she will not be able to participate in the Plan if the Participant fails to execute any such consent or agreement.

Securities Law Information

The offer of participation in the Plan is available only for employees of the Corporation and its Affiliates.  The offer of participation in the Plan is not a public offer of securities by a Taiwanese company.

Exchange Control Information

Taiwanese residents may acquire and remit foreign currency (including proceeds from the sale of shares of Common Stock or the receipt of dividends) into and out of Taiwan up to US$5,000,000 per year.  If the transaction amount is TWD500,000 or more in a single transaction, the Participant must submit a foreign exchange transaction form and also provide supporting documentation to the satisfaction of the remitting bank.

THAILAND
Exchange Control Information
If the proceeds from the sale of shares of Common Stock or the receipt of dividends paid on such shares are equal to or greater than US$200,000 in a single transaction, Thai residents must repatriate all cash proceeds to Thailand immediately following the receipt of the cash proceeds and then either convert such proceeds to Thai Baht or deposit the proceeds into a foreign currency account opened with a commercial bank in Thailand within 360 days of repatriation.  In addition, Thai residents must specifically report the inward remittance to the Bank of Thailand on a foreign exchange transaction form. 
Failure to comply with the above obligations may lead to penalties being assessed by the Bank of Thailand. Because exchange control regulations change frequently and without notice, the Participant should consult with his or her legal advisor before selling any shares of Common Stock (or receiving any other funds in connection with the Plan) to ensure compliance with current regulations. It is the Participant’s responsibility to comply with exchange control laws in 
Page 49 of 53

Thailand and neither the Corporation nor the Employer will be liable for any fines or penalties resulting from failure to comply with applicable laws.

TURKEY

Securities Law Information

Turkish residents are not permitted to sell shares of Common Stock acquired under the Plan in Turkey.  Turkish residents must sell the shares of Common Stock acquired under the Plan outside of Turkey.  The Shares are currently traded on the New York Stock Exchange in the U.S. under the ticker symbol “KMB” and shares of Common Stock may be sold on this exchange. 

Exchange Control Information

Under Turkish law, Turkish residents are permitted to purchase and sell securities or derivatives traded on exchanges abroad only through a financial intermediary licensed in Turkey.  Therefore, the Participant may be required to appoint a Turkish broker to assist him or her with the sale of the shares of Common Stock acquired under the Plan.  The Participant should consult his or her personal legal advisor before selling any shares of Common Stock acquired under the Plan to confirm the applicability of this requirement to the Participant.

UKRAINE

Awards Payable in Cash Only

Notwithstanding anything in the Award Agreement, Awards granted to Participants in Ukraine do not provide any right for the Participant to receive shares of Common Stock and shall be paid only in cash through local payroll in an amount equal to the value of the shares at vesting less any Tax-Related Items.  The Participant agrees to bear any currency fluctuation risk between the time the Awards vest and the time the cash payment is distributed to Participant through local payroll.  The Corporation reserves the right to settle the Awards in shares of Common Stock to the extent the Corporation determines it is necessary or advisable for legal or administrative reasons.

UNITED ARAB EMIRATES

Securities Law Information
The offer of the Award is available only for select employees of the Corporation and its Affiliates and is in the nature of providing employee incentives in the United Arab Emirates.  The Plan and the Award Agreement are intended for distribution only to such employees and must not be delivered to, or relied on, by any other person.  Prospective purchasers of securities should conduct their own due diligence.  
The Emirates Securities and Commodities Authority has no responsibility for reviewing or verifying any documents in connection with this statement, including the Plan and the Award Agreement, or any other incidental communication materials distributed in connection with the Award.  Further, neither the Ministry of Economy nor the Dubai Department of Economic 
Page 50 of 53

Development has approved this statement nor taken steps to verify the information set out in it, and has no responsibility for it.  Residents of the United Arab Emirates who have any questions regarding the contents of the Plan and the Award Agreement should obtain independent professional advice.

UNITED KINGDOM 

Tax Acknowledgment

The following information supplements the information regarding Tax-Related Items in the Acknowledgment of Conditions section of the Award Agreement:

Without limitation to the information regarding Tax-Related Items in the Award Agreement, the Participant agrees that he or she is liable for all Tax-Related Items and hereby covenants to pay all such Tax-Related Items, as and when requested by the Corporation or, if different, the Employer or by Her Majesty’s Revenue & Customs (“HMRC”) (or any other tax authority or any other relevant authority).  The Participant agrees to indemnify and keep indemnified the Corporation and/or the Employer for all Tax-Related Items that they are required to pay, or withhold or have paid or will pay to HMRC on the Participant’s behalf (or any other tax authority or any other relevant authority) and authorizes the Corporation and/or the Employer to recover such amounts by any of the means referred to in the Acknowledgment of Conditions section of the Award Agreement.

Notwithstanding the foregoing, if the Participant is an executive officer or director (as within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the Participant understands that he or she may not be able to indemnify the Corporation for the amount of any Tax-Related Items not collected from or paid by the Participant, if the indemnification could be considered a loan.  In this case, the Tax-Related Items not collected or paid may constitute a benefit to the Participant on which additional income tax and National Insurance contributions (“NICs”) may be payable.

The Participant acknowledges that the Participant ultimately will be responsible for reporting and paying any income tax due on this additional benefit directly to HMRC under the self-assessment regime and for paying to the Corporation or the Employer (as appropriate) the amount of any NICs due on this additional benefit, which the Corporation and/or the Employer may also recover from the Participant at any time thereafter by any of the means referred to in the Acknowledgment of Conditions section of the Award Agreement.

Covenant Agreements

1.    During the continuance of the Participant’s employment with the Employer, the Participant undertakes to maintain the confidentiality of, and not to divulge to any person (without the prior consent of the Participant’s manager or as required by law), any of the Corporation’s or any Affiliate’s trade secrets or Confidential Information, nor use the same for any other purpose, other than to carry out the Participant’s functions as an employee.  The Participant shall use all personal endeavours to prevent publication or disclosure of such trade secrets and Confidential Information.  “Confidential Information,” for purposes of these covenants, means information in whatever form (including, without limitation, in written, oral, 
Page 51 of 53

visual or electronic form or on any magnetic or optical disk or memory and wherever located) relating to the business, suppliers, customers, products, affairs and finances of the Corporation or any Affiliate for the time being confidential to the Corporation or any Affiliate, and trade secrets including, without limitation, technical data and know-how relating to the business of the Corporation or any Affiliate, or any of their suppliers, customers, agents, distributors, shareholders or management, including (but not limited to) business plans, pricing strategies, financial information, patent applications, information concerning tenders and potential contracts, information concerning proposed product ranges, product development information, employee and salary information, research and development activities or manufacturing methods that the Participant creates, develops, receives, obtains or has knowledge of in connection with your employment, whether or not such information (if in anything other than oral form) is marked confidential.
2.    During the Participant’s employment with the Corporation or any Affiliate, it is recognised that the Participant may have access to trade secrets and information of a highly confidential nature, including Confidential Information, disclosure of which after termination of employment could seriously harm the interests of the Corporation or any Affiliate.  The Participant shall not at any time after termination of employment (otherwise than as required by law) divulge to any person any trade secret or Confidential Information which is the property of the Corporation or any Affiliate.
3.    During the Participant’s employment by the Corporation or any Affiliate it is acknowledged that the Participant will acquire highly confidential information, including Confidential Information, and should the Participant’s employment with the Employer cease, it may be difficult to police clause 2 above, prohibiting the disclosure of such information.  It is further acknowledged that it may be difficult to police the non-solicitation and dealing clauses set out below.  For these reasons, the Participant shall not, for a period of 12 months (less any period spent on garden leave) be engaged by a Competitor, whether as an employee, director, consultant or advisor.  “Competitor,” for purposes of these covenants, means any company carrying out Restricted Business within the United Kingdom so as to create competition with the Corporation or any Affiliate.  “Restricted Business,” for purposes of these covenants, means any business activity carried out by the Participant either directly or indirectly for the Corporation or any Affiliate during the Relevant Period.  “Relevant Period,” for purposes of these covenants, means the 12-month period ending with the termination date.
4.    The Participant shall not during the period of 12 months after the termination date, either directly or indirectly, on the Participant’s own behalf or on behalf of any other person, firm or company, solicit or seek to conduct Restricted Business, or conduct Restricted Business, with any Restricted Customer or Prospective Customer.  “Restricted Customer,” for purposes of these covenants, means any person, firm or company who was a customer or distributor of the Corporation or any Affiliate at any time during the Relevant Period and with whom the Participant had material dealings within the Relevant Period.  “Prospective Customer,” for purposes of these covenants, means any person, firm or company with whom the Corporation or any Affiliate was involved in negotiations in the Relevant Period with a view to dealing with it as a customer, and with whom the Participant had contact within the Relevant Period.
5.    The Participant shall not during the period of 12 months after the termination date directly or indirectly induce any person who was an employee of the Corporation or any Affiliate at the termination date and with whom the Participant had material dealings during the Relevant Period to leave the employment of the Corporation or any Affiliate.
Page 52 of 53

6.    In this Award Agreement, references to acting directly or indirectly include acting jointly with or through another person.
7.    Each of the restrictions contained in this Award Agreement is intended to be separate and severable.  In the event of any of the restrictions shall be held to be void, but would be valid if part of the wording was deleted, such restriction shall apply with such deletion as may be necessary to make it valid and effective.

URUGUAY

There are no country-specific provisions.

VIETNAM

Awards Payable in Cash Only

Notwithstanding anything in the Award Agreement, Awards granted to Participants in Vietnam do not provide any right for the Participant to receive shares of Common Stock and shall be paid only in cash through local payroll in an amount equal to the value of the shares at vesting less any Tax-Related Items.  The Participant agrees to bear any currency fluctuation risk between the time the Awards vest and the time the cash payment is distributed to the Participant through local payroll.  The Corporation reserves the right to settle the Awards in shares of Common Stock to the extent the Corporation determines it is necessary or advisable for legal or administrative reasons.
Page 53 of 53Exhibit 4.6

 

INDENTURE

 

Dated as of [____________], [____]

 

Between

 

LUMENT FINANCE TRUST, INC.,

 

as Issuer

 

and

 

WILMINGTON
TRUST, NATIONAL ASSOCIATION,

 

as Trustee

 

Subordinated Debt Securities

 

     

     

    

 

CERTAIN SECTIONS OF THIS INDENTURE

RELATING TO SECTIONS 310 THROUGH 318 INCLUSIVE,

OF THE TRUST INDENTURE ACT OF 1939

 

	
    Trust Indenture
    Act Section
	 	
    Indenture
    Section

	Section 310(a)(1)	 	Section 609
	(a)(2)	 	Section 609
	(a)(3)	 	Not Applicable
	(a)(4)	 	Not Applicable
	(b)	 	Section 608
	 	 	Section 610
	Section 311(a)	 	Section 613
	(b)	 	Section 613
	Section 312(a)	 	Section 701
	 	 	Section 702
	(b)	 	Section 702
	(c)	 	Section 702
	Section 313(a)	 	Section 703
	(b)	 	Section 703
	(c)	 	Section 703
	(d)	 	Section 703
	Section 314(a)	 	Section 704
	(a)(4)	 	Section 1004
	(b)	 	Not Applicable
	(c)(1)	 	Section 102
	(c)(2)	 	Section 102
	(c)(3)	 	Not Applicable
	(d)	 	Not Applicable
	(e)	 	Section 102
	Section 315(a)	 	Section 601
	(b)	 	Section 602
	(c)	 	Section 601
	(d)	 	Section 601
	(e)	 	Section 513
	Section 316(a)	 	Section 101
	(a)(1)(A)	 	Section 502
	 	 	Section 511
	(a)(1)(B)	 	Section 512
	(a)(2)	 	Not Applicable
	(b)	 	Section 508
	(c)	 	Section 104
	Section 317(a)(1)	 	Section 504
	(a)(2)	 	Section 504
	(b)	 	Section 1003
	Section 318(a)	 	Section 107

 

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

 

    i

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	RECITALS	 	1
	 	 	 
	ARTICLE I        DEFINITIONS
AND OTHER PROVISIONS OF GENERAL APPLICATION	1
	 	 	 
	Section 101	Definitions	1
	Section 102	Compliance Certificates and Opinions	7
	Section 103	Form of Documents Delivered to Trustee	7
	Section 104	Acts of Holders; Record Dates	7
	Section 105	Notices, Etc., to Trustee and Company	9
	Section 106	Notice to Holders; Waiver	9
	Section 107	Conflict with Trust Indenture Act	9
	Section 108	Effect of Headings and Table of Contents	10
	Section 109	Successors and Assigns	10
	Section 110	Separability Clause	10
	Section 111	Benefits of Indenture	10
	Section 112	Governing Law; Submission to Jurisdiction	10
	Section 113	Legal Holidays	10
	Section 114	No Recourse Against Others	11
	Section 115	Waiver of Jury Trial	11
	Section 116	Compliance with Applicable Law	11
	Section 117	Entire Agreement	11
	 	 	 
	ARTICLE II        SECURITY
FORMS	11
	 	 	 
	Section 201	Forms Generally	11
	Section 202	Form of Legend for Global Securities	12
	Section 203	Form of Trustee’s Certificate of Authentication	12
	 	 	 
	ARTICLE III        THE
SECURITIES	12
	 	 	 
	Section 301	Amount Unlimited; Issuable in Series	12
	Section 302	Denominations	15
	Section 303	Execution, Authentication, Delivery and Dating	15
	Section 304	Temporary Securities	16
	Section 305	Registration, Registration of Transfer and Exchange	16
	Section 306	Mutilated, Destroyed, Lost and Stolen Securities	17
	Section 307	Payment of Interest; Interest Rights Preserved	18
	Section 308	Persons Deemed Owners	19
	Section 309	Cancellation	19
	Section 310	Computation of Interest	19
	Section 311	CUSIP or ISIN Numbers	19
	Section 312	Original Issue Discount	19
	Section 313	General Provisions Relating to Global Securities	20
	Section 314	No Gross Up	20
	 	 	 
	ARTICLE IV        SATISFACTION
AND DISCHARGE	20
	 	 	 
	Section 401	Satisfaction and Discharge of Indenture	20
	Section 402	Application of Trust Money	21
	 	 	 
	ARTICLE V        REMEDIES	21
	 	 	 
	Section 501	Events of Default	21
	Section 502	Acceleration of Maturity; Rescission and Annulment	23
	Section 503	Collection of Indebtedness and Suits for Enforcement by Trustee	23
	Section 504	Trustee May File Proofs of Claim	24
	Section 505	Trustee May Enforce Claims Without Possession of Securities	24

 

    i

     

    

 

	Section 506	Application of Money Collected	24
	Section 507	Limitation on Suits	25
	Section 508	Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert Securities	25
	Section 509	Rights and Remedies Cumulative	25
	Section 510	Delay or Omission Not Waiver	26
	Section 511	Control by Holders	26
	Section 512	Waiver of Past Defaults	26
	Section 513	Undertaking for Costs	26
	Section 514	Waiver of Usury, Stay or Extension Laws	26
	Section 515	Restoration of Rights and Remedies	27
	 	 	 
	ARTICLE VI        THE
TRUSTEE	27
	 	 	 
	Section 601	Certain Duties and Responsibilities of Trustee	27
	Section 602	Notice of Defaults	28
	Section 603	Certain Rights of Trustee	28
	Section 604	Not Responsible for Recitals or Issuance of Securities	29
	Section 605	May Hold Securities	29
	Section 606	Money Held in Trust	30
	Section 607	Compensation and Reimbursement	30
	Section 608	Conflicting Interests	30
	Section 609	Corporate Trustee Required; Eligibility	31
	Section 610	Resignation and Removal; Appointment of Successor	31
	Section 611	Acceptance of Appointment by Successor	32
	Section 612	Merger, Conversion, Consolidation or Succession to Business	33
	Section 613	Preferential Collection of Claims Against Company	33
	Section 614	Trustee’s Application for Instructions from the Company	33
	 	 	 
	ARTICLE VII        HOLDERS’
LISTS AND REPORTS BY THE TRUSTEE AND THE COMPANY	33
	 	 	 
	Section 701	Company to Furnish Trustee Names and Addresses of Holders	33
	Section 702	Preservation of Information; Communications to Holders	33
	Section 703	Reports by Trustee	34
	Section 704	Reports by the Company	34
	 	 	 
	ARTICLE VIII        CONSOLIDATION,
MERGER, SALE OF ASSETS AND OTHER TRANSACTIONS	34
	 	 	 
	Section 801	Company May Merge or Transfer Assets on Certain Terms	34
	Section 802	Successor Person Substituted	34
	 	 	 
	ARTICLE IX        SUPPLEMENTAL
INDENTURES	34
	 	 	 
	Section 901	Supplemental Indentures Without Consent of Holders	34
	Section 902	Supplemental Indentures With Consent of Holders	35
	Section 903	Execution of Supplemental Indentures	36
	Section 904	Effect of Supplemental Indentures	37
	Section 905	Conformity with Trust Indenture Act	37
	Section 906	Notice of Supplemental Indenture; Reference in Securities to Supplemental Indentures	37
	Section 907	Subordination Unimpaired	37
	 	 	 
	ARTICLE X        COVENANTS	37
	 	 	 
	Section 1001	Payment of Principal, Premium, if any, and Interest	37
	Section 1002	Maintenance of Office or Agency	37
	Section 1003	Money for Securities Payments to Be Held in Trust	38
	Section 1004	Statement by Officers as to Default	39
	Section 1005	Waiver of Certain Covenants	39

 

    ii

     

    

 

	ARTICLE XI        REDEMPTION
OF SECURITIES	39
	 	 	 
	Section 1101	Applicability of Article	39
	Section 1102	Election to Redeem; Notice to Trustee	39
	Section 1103	Selection by Trustee of Securities to Be Redeemed	39
	Section 1104	Notice of Redemption	40
	Section 1105	Deposit of Redemption Price	41
	Section 1106	Securities Payable on Redemption Date	41
	Section 1107	Securities Redeemed in Part	41
	 	 	 
	ARTICLE XII        SINKING
FUNDS	41
	 	 	 
	Section 1201	Applicability of Article	41
	Section 1202	Satisfaction of Sinking Fund Payments with Securities	42
	Section 1203	Redemption of Securities for Sinking Fund	42
	 	 	 
	ARTICLE XIII        DEFEASANCE
AND COVENANT DEFEASANCE	42
	 	 	 
	Section 1301	Company’s Option to Effect Defeasance or Covenant Defeasance	42
	Section 1302	Defeasance and Discharge	42
	Section 1303	Covenant Defeasance	43
	Section 1304	Conditions to Defeasance or Covenant Defeasance	43
	Section 1305	Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions	44
	Section 1306	Reinstatement	44
	 	 	 
	ARTICLE XIV        SUBORDINATION
OF SECURITIES	45
	 	 	 
	Section 1401	Subordination Terms	45
	Section 1402	Trustee and Holders May Rely on Certificate of Liquidating Agent; Trustee May Require Further Evidence as to Ownership of Senior Indebtedness	46
	Section 1403	Payment Permitted if No Default	46
	Section 1404	Trustee Not Charged with Knowledge of Prohibition	47
	Section 1405	Trustee to Effect Subordination	47
	Section 1406	Rights of Trustee as Holder of Senior Indebtedness	47
	Section 1407	Provisions Applicable to Paying Agents	47
	Section 1408	Trustee Not Fiduciary for Holders of Senior Indebtedness	47
	 	 	 
	ARTICLE XV        MISCELLANEOUS	48
	 	 	 
	Section 1501	Counterparts	48

 

    iii

     

    

 

INDENTURE, dated as of [____________],
[____], between Lument Finance Trust, Inc., a corporation duly organized and existing under the laws of Maryland (the “Company”),
and Wilmington Trust, National Association, a national banking association, as Trustee (the “Trustee”).

 

RECITALS

 

The Company has duly authorized
the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured subordinated debt securities
(the “Securities”), to be issued in one or more series as provided in this Indenture.

 

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

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

For and in consideration of
the premises and the purchase of the Securities by the Holders (as defined herein) thereof, it is mutually agreed, for the equal and proportionate
benefit of all Holders of the Securities or of any series thereof, as follows:

 

ARTICLE I

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

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

 

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

 

		(2)	all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference
therein, have the meanings assigned to them therein;

 

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

 

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

 

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

 

		(6)	“including” means including without limitation;

 

		(7)	when used with respect to any Security, the words “convert,” “converted” and “conversion”
are intended to refer to the right of the Holder or the Company to convert or exchange such Security into or for securities or other property
in accordance with such terms, if any, as may hereafter be specified for such Security as contemplated by Section 301,
and these words are not intended to refer to any right of the Holder or the Company to exchange such Security for other Securities of
the same series and of like tenor pursuant to Section 304, 305, 306, 906 or 1107 or
another similar provisions of this Indenture, unless the context otherwise requires; and references herein to the terms of any Security
that may be converted mean such terms as may be specified for such Security as contemplated in Section 301; and

 

		(8)	unless otherwise provided, references to agreements and other instruments shall be deemed to include all
amendments and other modifications to such agreements and instruments, but only to the extent such amendments and other modifications
are not prohibited by the terms of this Indenture.

 

    1

     

    

 

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

 

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

 

“Agent” shall
mean the Trustee acting in its capacity as Paying Agent or Registrar, any other Paying

Agent or Registrar appointed
by the Company and any other agent appointed to act for the Trustee or the Company.

 

“Applicable Law”
has the meaning specified in Section 116.

 

“Applicable Procedures”
means, with respect to a Depositary, as to any matter at any time, the policies and procedures of such Depositary, if any, that are applicable
to such matter at such time.

 

“Bankruptcy Law”
means Title 11, United States Code, or any similar Federal or state or foreign law for the relief of debtors.

 

“Business Day”
means, when used with respect to any Place of Payment, unless otherwise specified as contemplated by Section 301, any
day, other than a Saturday or Sunday, which is not a day on which banking institutions or trust companies are authorized or obligated
by law, regulation or executive order to close in that Place of Payment.

 

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

 

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

 

“Company Request”
or “Company Order” means a written request or order signed by or on behalf of the Company by an Officer thereof (or
any Person designated in writing as authorized to execute and deliver Company Requests and Company Orders), and delivered to the Trustee.

 

“Company Resolution”
means a copy of one or more resolutions certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted
by the board of directors of the Company and to be in full force and effect on the date of such certification and delivered to the Trustee.

 

“Corporate Trust
Office” means the principal office of the Trustee at which, at any particular time, its corporate trust business shall be conducted,
which office shall initially be located at 350 Park Ave., New York, NY 10022, Attention: Account Administrator, or at any other time at
such other address as the Trustee may designate from time to time by notice to the Company, or the principal corporate trust office of
any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Company).

 

“Covenant Defeasance”
has the meaning specified in Section 1303.

 

“Custodian”
means any custodian, receiver, trustee, assignee, liquidator or other similar official under any Bankruptcy Law.

 

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

 

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

 

    2

     

    

 

“Defeasance”
has the meaning specified in Section 1302.

 

“Depositary”
means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global Securities, a clearing
agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 301.

 

“Event of Default”
has the meaning specified in Section 501.

 

“Exchange Act”
means the U.S. Securities Exchange Act of 1934, as amended, and any statute successor thereto, in each case as amended from time to time.

 

“Expiration Date”
has the meaning specified in Section 104.

 

“FATCA Withholding
Tax” shall mean any withholding or deduction required pursuant to an agreement described in Section 1471(b) of the
Internal Revenue Code or otherwise imposed pursuant to Sections 1471 through 1474 of the Internal Revenue Code (or any regulations or
agreements thereunder or official interpretations thereof) or any intergovernmental agreement between the United States and another jurisdiction
facilitating the implementation thereof (or any law implementing such an intergovernmental agreement).

 

“GAAP”
means generally accepted accounting principles in the United States (including, if applicable, International Financial Reporting
Standards) as in effect from time to time.

 

“Global Security”
means a Security that evidences all or part of the Securities of any series and bears the legend set forth in Section 202 (or
such legend as may be specified as contemplated by Section 301 for such Securities).

 

“Holder”
means a Person in whose name a Security is registered in the Security Register.

 

“Indenture”
means this Indenture as originally executed and as it may from time to time be supplemented or amended by one or more indentures supplemental
hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this Indenture and any such supplemental
indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this Indenture and any such supplemental
indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established
as contemplated by Section 301.

 

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

 

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

 

“Internal Revenue
Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time.

 

“Maturity”
means, when used with respect to any Security, the date on which the principal of such Security or an installment of principal becomes
due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or
otherwise.

 

“Notice of Default”
means a written notice of the kind specified in Section 501.

 

“obligor”
has the meaning given to such term in the Trust Indenture Act.

 

“Officer”
means any Chairman, any Co-Chairman, any Vice Chairman, any Chief Executive Officer, any Co-Chief Executive Officer, any President, any
Co-President, any Chief Operating Officer, any Co-Chief Operating Officer, the Treasurer, any Vice President, any Assistant Treasurer,
the Chief Financial Officer, the Chief Accounting Officer, the General Counsel, the Secretary or the Assistant Secretary of the Company.

 

    3

     

    

 

“Officer’s
Certificate” means a certificate signed on behalf of the Company by an officer and delivered to the Trustee.

 

“Opinion of Counsel”
means a written opinion of counsel (who may be counsel for, including an employee of, the Company) and who shall be reasonably acceptable
to the Trustee.

 

“Original Issue Discount
Security” means any Security which provides for an amount less than the principal amount thereof to be due and payable upon
a declaration of acceleration of the Maturity thereof pursuant to Section 502.

 

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

 

		(1)	Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;

 

		(2)	Securities for whose payment or redemption money in the necessary amount has been theretofore deposited
with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company
shall act as Paying Agent) for the Holders of such Securities; provided that, if such Securities are to be redeemed,
notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made;

 

		(3)	Securities as to which Defeasance has been effected pursuant to Section 1302;

 

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

 

		(5)	Securities as to which any property deliverable upon conversion thereof has been delivered (or such delivery
has been made available), or as to which any other particular conditions have been satisfied, in each case as may be provided for such
Securities as contemplated in Section 301;

 

provided,
however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have
given, made or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date,
(A) the principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount of the
principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 502,
(B) if, as of such date, the principal amount payable at the Stated Maturity of a Security is not determinable, the principal amount
of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by Section 301,
(C) the principal amount of a Security denominated in one or more foreign currencies, composite currencies or currency units which
shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in the manner provided as contemplated
by Section 301, of the principal amount of such Security (or, in the case of a Security described in clause (A) or
(B) above, of the amount determined as provided in such clause), and (D) Securities owned by the Company or any other obligor
upon the Securities or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be Outstanding (except
in the case where the Securities are 100% owned by the Company or any Affiliate of the Company), except that, in determining whether the
Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or other action,
only Securities which a Responsible Officer actually knows to be so owned shall be so disregarded. Securities so owned which have been
pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s
right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any
Affiliate of the Company or such other obligor.

 

    4

     

    

 

“Paying Agent”
means any Person authorized by the Company to pay the principal of or premium, if any, or interest on any Securities on behalf of the
Company.

 

“Permitted Jurisdictions”
means the laws of the United States of America or any state thereof.

 

“Person”
means an individual, a corporation, a partnership, a limited liability company, an association, a trust, or any other entity including
government or political subdivision or an agency or instrumentality thereof.

 

“Place of Payment”
means, when used with respect to the Securities of any series, the place or places where the principal of and premium, if any, and interest
on the Securities of such series are payable as specified as contemplated by Section 301.

 

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

 

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

 

“Redemption Price”
means, when used with respect to any Security to be redeemed, the price at which it is to be redeemed pursuant to this Indenture.

 

“Regular Record Date”
means, for the interest payable on any Interest Payment Date on the Securities of any series, the date specified for that purpose as contemplated
by Section 301.

 

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

 

“Responsible Officer”
means with respect to the Trustee, any officer assigned to the Corporate Trust Group (or any successor division or unit) of the Trustee
located at the Corporate Trust Office of the Trustee, who shall have direct responsibility for the administration of this Indenture and,
for the purposes of Section 601(3)(B) and the second sentence of Section 602, shall also include
any other officer of the Trustee to whom any corporate trust matter is referred because of such officer’s knowledge of and familiarity
with the particular subject who shall have direct responsibility for the administration of this Indenture.

 

“Securities”
has the meaning specified in the first recital of this Indenture and more particularly means any Securities authenticated and delivered
under this Indenture.

 

“Securities Act”
means the U.S. Securities Act of 1933, as amended, and any statute successor thereto, in each case as amended from time to time.

 

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

 

“Senior Indebtedness”
means the principal of (and premium, if any) and interest (including any interest accruing subsequent to the filing of a petition of bankruptcy
at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under applicable
law) on any indebtedness for money borrowed of the Company, incurred or assumed, whether or not evidenced by securities, notes, debentures,
bonds or other similar instruments issued by the Company, unless, in the case of any particular indebtedness, the instrument creating
or evidencing the same or pursuant to which the same is outstanding expressly provides that such indebtedness shall rank pari
passu with or be subordinated in right of payment to the Securities. Notwithstanding the foregoing, “Senior Indebtedness”
shall not include (i) any indebtedness of the Company to a Subsidiary of the Company or any Affiliate of the Company or any of such
Affiliate’s Subsidiaries, (ii) indebtedness to, or guaranteed on behalf of, any stockholder, director, officer or employee
of the Company or any Subsidiary of the Company or any Affiliate of the Company or any of such affiliate’s Subsidiaries (including,
without limitation, amounts owed for compensation), (iii) indebtedness to trade creditors and other amounts incurred in connection
with obtaining goods, materials or services, (iv) any liability for federal, state, local or other taxes owed or owing by the Company,
(v) that portion of any indebtedness incurred in violation of an incurrence test applicable to a series of the Securities, or (vi) that
portion of any indebtedness which, when incurred and without respect to any election under Section 1111(b) of Title 11, United
States Code, is without recourse to the Company.

 

    5

     

    

 

 

“Special Record Date”
means, for the payment of any Defaulted Interest, a date fixed by the Trustee pursuant to Section 307.

 

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

 

“Subsidiary”
means any subsidiary of a Person that is or would be consolidated with such Person in the preparation of segment information with respect
to the combined financial statements of such Person prepared in accordance with GAAP. For the avoidance of doubt, a Subsidiary shall not
include (a) any private equity or other investment fund or vehicle or (b) any portfolio company of any such fund or vehicle.

 

“Substantially All
Merger” means a merger or consolidation of the Company with or into another Person that would, in one or a series of related
transactions, result in the transfer or other disposition, directly or indirectly, of all or substantially all of the combined assets
of the Company taken as a whole to any other Person.

 

“Substantially All
Sale” means a sale, assignment, transfer, lease or conveyance to any other Person, in one or a series of related transactions,
directly or indirectly, of all or substantially all of the combined assets of the Company taken as a whole to any other Person.

 

“Successor Person”
has the meaning specified in Section 801(1).

 

“Trust Indenture
Act” means the U.S. Trust Indenture Act of 1939 as in force at the date as of which this Indenture was executed; provided,
however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means,
to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended.

 

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

 

“U.S. Government
Obligation” means (x) any security which is (i) a direct obligation of the United States of America for the payment
of which the full faith and credit of the United States of America is pledged or (ii) an obligation of a Person controlled or supervised
by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a
full faith and credit obligation by the United States of America, which, in either case (i) or (ii), is not callable or redeemable
at the option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of
the Securities Act) as custodian with respect to any U.S. Government Obligation which is specified in clause (x) above and held by
such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest
on any U.S. Government Obligation which is so specified and held; provided that (except as required by law) such custodian
is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the
custodian in respect of the U.S. Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt.

 

    6

     

    

 

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

 

Every certificate or opinion
with respect to compliance with a condition or covenant provided for in this Indenture (except for certificates provided for in Section 1004)
shall include:

 

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

 

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

 

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

 

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

 

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

 

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

 

Where any Person is required
to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this
Indenture, they may, but need not, be consolidated and form one instrument.

 

Section 104     Acts
of Holders; Record Dates. Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted
by this Indenture to be given, made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar
tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required,
to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to
as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of
a writing appointing any such agent shall be sufficient for any purpose of this Indenture and, subject to Section 601,
conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section 104.

 

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

 

    7

     

    

 

The ownership of Securities
shall be proved by the Security Register.

 

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

 

The Company may set any day
as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to give, make or take any
request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given,
made or taken by Holders of Securities of such series; provided that the Company may not set a record date for, and the
provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred
to in the next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant
series on such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders
after such record date; provided that no such action shall be effective hereunder unless taken on or prior to the applicable
Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in
this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously
been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be
cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the
requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record
date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the proposed action by
Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of the relevant series
in the manner set forth in Section 106.

 

The Trustee may set any day
as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to join in the giving or
making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any
request to institute proceedings referred to in Section 507(2) or (iv) any direction referred to in Section 511,
in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of such series on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or
direction, whether or not such Holders remain Holders after such record date; provided that no such action shall be effective
hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities
of such series on such record date. Nothing in this paragraph shall be construed to prevent the Trustee from setting a new record date
for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall
automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render
ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date
such action is taken. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall
cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company in writing
and to each Holder of Securities of the relevant series in the manner set forth in Section 106.

 

With respect to any record
date set pursuant to this Section 104, the party hereto which sets such record dates may designate any day as the “Expiration
Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no such
change shall be effective unless notice of the proposed new Expiration Date is given to the other party hereto in writing, and to each
Holder of Securities of the relevant series in the manner set forth in Section 106, on or prior to the existing Expiration Date.
If an Expiration Date is not designated with respect to any record date set pursuant to this Section 104, the party hereto
which set such record date shall be deemed to have initially designated the 180th day after such record date as the Expiration Date with
respect thereto, subject to its right to change the Expiration Date as provided in this paragraph.

 

    8

     

    

 

Without limiting the foregoing,
a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so with regard to all or any part
of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment
with regard to all or any part of such principal amount.

 

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

 

		(1)	the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given,
furnished or filed in writing (which may be by facsimile) to or with the Trustee at its Corporate Trust Office at the location specified
in Section 101; or

 

		(2)	the Company by the Trustee or by any Holder
shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage
prepaid, to the Company addressed to the attention of the Secretary of the Company at the address of the Company’s principal office
specified in writing to the Trustee by the Company and, until further notice, at 230 Park Avenue, 20th Floor, New York, New
York 10169, Attention: Legal Department, with a copy to Mayer Brown LLP, fax number: (212) 506-2500, Attention: Stuart M. Litwin and
David S. Freed.

 

The Trustee shall have the
right, but shall not be required, to rely upon and comply with instructions and directions sent by e-mail, facsimile and other similar
unsecured electronic methods by persons believed by the Trustee to be authorized to give instructions and directions on behalf of the
Company. The Trustee shall have no duty or obligation to verify or confirm that the person who sent such instructions or directions is,
in fact, a person authorized to give instructions or directions on behalf of the Company; and the Trustee shall have no liability for
any losses, liabilities, costs or expenses incurred or sustained by the Company as a result of such reliance upon or compliance with such
instructions or directions. The Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions
and directions 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.

 

Section 106     Notice
to Holders; Waiver. Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless
otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at
such Holder’s address as it appears in the Security Register, not later than the latest date, if any, and not earlier than the earliest
date, if any, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail
such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect
to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled
to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by
Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance
upon such waiver.

 

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

 

Notwithstanding the foregoing,
where this Indenture provides for notice of any event to a Holder of a Global Security, such notice shall be sufficiently given if given
to the Depositary for such Security (or its designee), pursuant to the Applicable Procedures of the Depositary, not later than the latest
date, if any, and not earlier than the earliest date, if any, prescribed for the giving of such notice.

 

Section 107     Conflict
with Trust Indenture Act. If any provision of this Indenture limits, qualifies or conflicts with a provision of the Trust Indenture
Act which is required under the Trust Indenture Act to be a part of and govern this Indenture, the latter provision shall control. If
any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act which may be so modified or excluded, the
latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be.

 

    9

     

    

 

Whenever this Indenture refers to a provision
of the Trust Indenture Act, that provision is incorporated by reference in and made a part of this Indenture. The Indenture shall also
include those provisions of the Trust Indenture Act required to be included herein by the provisions of the Trust Indenture Reform Act
of 1990. The following Trust Indenture Act terms used in this Indenture have the following meanings:

 

1. “default” means Event
of Default; “

2. indenture securities” means
the Securities;

3. “indenture trustee” means
the Trustee; and

4. “obligor” on the Securities
means the Company or any other obligor on the Securities.

 

All other terms used in this Indenture that are
defined in the Trust Indenture Act, defined by Trust Indenture Act reference to another statute or defined by any Commission rule and
not otherwise defined herein shall have the meanings assigned to them therein.

 

Section 108     Effect
of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience
only and shall not affect the construction hereof.

 

Section 109     Successors
and Assigns. All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed
or not. All agreements of the Trustee in this Indenture shall bind its successors and assigns, whether so expressed or not.

 

Section 110     Separability
Clause. In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 111     Benefits
of Indenture. Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties
hereto and their successors hereunder and the Holders (and, with respect to the provisions of Article XIV, the holders
of Senior Indebtedness), any benefit or any legal or equitable right, remedy or claim under this Indenture.

 

Section 112     Governing
Law; Submission to Jurisdiction.

 

a)            This
Indenture and the Securities shall be governed by, and construed in accordance with, the law of the State of New York.

 

b)            Each
of the parties hereto:

 

(1)            agrees
that any suit, action or proceeding against it arising out of or relating to this Indenture or the Securities, as the case may be, may
be instituted in any U.S. federal or New York state court sitting in the Borough of Manhattan, New York City, New York (the “Specified
Courts”); and

 

(2)            irrevocably
submits to the non-exclusive jurisdiction of the Specified Courts in any suit, action or proceeding.

 

Section 113     Legal
Holidays. In any case where any Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity of any Security, or any
date on which a Holder has the right to convert such Holder’s Security, shall not be a Business Day at any Place of Payment, then
(notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security which specifically
states that such provision shall apply in lieu of this Section 113)) payment of principal and premium, if any, or interest,
or the Redemption Price or conversion of such Security, need not be made at such Place of Payment on such date, but may be made on the
next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date, Redemption
Date or Repayment Date or at the Stated Maturity, or on such conversion date. In the case, however, of Securities of a series bearing
interest at a floating rate, if any Interest Payment Date (other than the Redemption Date, Repayment Date or Stated Maturity) would otherwise
be a date that is not a Business Day, then the Interest Payment Date shall be postponed to the following date which is a Business Day,
unless that Business Day falls in the next succeeding calendar month, in which case the Interest Payment Date will be the immediately
preceding Business Day. No interest shall accrue for the period from and after any such Interest Payment Date, Redemption Date, Repayment
Date, Stated Maturity or conversion date, as the case may be, to the date of such payment.

 

    10

     

    

 

Section 114     No
Recourse Against Others. A director, partner, officer, employee, member, manager or stockholder as such of the Company shall not have
any liability for any obligations of the Company under the Securities or this Indenture or for any claim based on, in respect of or by
reason of such obligations or their creation. By accepting a Security, each Holder shall waive and release all such liability. The waiver
and release shall be part of the consideration for the issue of the Securities.

 

Section 115     Waiver
of Jury Trial. EACH OF THE COMPANY, THE TRUSTEE AND THE HOLDERS, BY THEIR ACCEPTANCE OF THE SECURITIES, HEREBY IRREVOCABLY WAIVES,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING AS BETWEEN THE COMPANY AND
THE TRUSTEE ONLY ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE SECURITIES.

 

Section 116     Compliance
with Applicable Law. In order to comply with applicable tax laws, rules and regulations (inclusive of directives, guidelines
and interpretations promulgated by competent authorities) in effect from time to time (“Applicable Law”), the Trustee
shall be entitled to make any withholding or deduction from payments under this Indenture to the extent necessary to comply with Applicable
Law (and shall timely pay the amounts so withheld or deducted to the applicable governmental authority) for which Wilmington Trust, National
Association shall not have any liability. Each of the Company and the Trustee agrees to reasonably cooperate and, at the reasonable request
of the other, to provide the other with such information as each may have in its possession that is necessary to enable the determination
of whether any payments hereunder are subject to FATCA Withholding Tax

 

Section 117     Entire
Agreement. This Indenture, any supplemental indentures and the exhibits hereto set forth the entire agreement and understanding of
the parties related to this Indenture and supersedes all prior agreements and understandings, oral or written

 

ARTICLE II

SECURITY FORMS

 

Section 201     Forms
Generally. The Securities of each series shall be in substantially such form or forms as shall be established by or pursuant to a
Company Resolution or, subject to Section 303, set forth in, or determined in the manner provided in, an Officer’s
Certificate of the Company pursuant to a Company Resolution, or in one or more indentures supplemental hereto, in each case with such
appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such
letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with applicable
tax laws or the rules of any securities exchange or Depositary therefor or as may, consistently herewith, be determined by the Officer
executing such Securities, as evidenced by their execution thereof. If the form of Securities of any series is established by action taken
pursuant to a Company Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary
of the Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for
the authentication and delivery of such Securities. If all of the Securities of any series established by action taken pursuant to a Company
Resolution are not to be issued at one time, it shall not be necessary to deliver a record of such action at the time of issuance of each
Security of such series, but an appropriate record of such action shall be delivered at or before the time of issuance of the first Security
of such series.

 

The definitive Securities
shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the
Officers of the Company executing such Securities, as evidenced by their execution of such Securities.

 

    11

     

    

 

Section 202     Form of
Legend for Global Securities. Unless otherwise specified as contemplated by Section 301 for the Securities evidenced
thereby, every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form:

 

UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS
OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE
REFERRED TO ON THE REVERSE HEREOF.

 

Section 203     Form of
Trustee’s Certificate of Authentication. The Trustee’s certificates of authentication shall be in substantially the following
form:

 

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

 

Dated:

 

Wilmington Trust, National Association, as Trustee

 

	By:	 	 
	 	Authorized Signatory	 

 

ARTICLE III

THE SECURITIES

 

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

 

The Securities may be issued
in one or more series. There shall be established in or pursuant to (a) a Company Resolution or pursuant to authority granted by
a Company Resolution and, subject to Section 303, set forth, or determined in the manner provided, in an Officer’s
Certificate of the Company, or (b) one or more indentures supplemental hereto, prior to the issuance of Securities of any series:

 

		(1)	the title of the Securities of the series (which shall distinguish the Securities of the series from Securities
of any other series);

 

		(2)	the limit, if any, on the aggregate principal amount of the Securities of the series which may be authenticated
and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, other Securities of the series pursuant to Section 304, 305, 306, 906 or 1106 and
except for any Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder);

 

		(3)	the Person to whom any interest on a Security of the series shall be payable, if other than the Person
in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date
for such interest;

 

    12

     

    

 

		(4)	the date or dates on which the principal of any Securities of the series is payable or the method used
to determine or extend those dates;

 

		(5)	the rate or rates at which any Securities of the series shall bear interest, if any, the date or dates
from which any such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record
Date for any such interest payable on any Interest Payment Date;

 

		(6)	the place or places where the principal of and premium, if any, and interest on any Securities of the
series shall be payable and the manner in which any payment may be made;

 

		(7)	the period or periods within which, the price or prices at which and the terms and conditions upon which
any Securities of the series may be redeemed, in whole or in part, at the option of the Company and, if other than by a Company Resolution,
the manner in which any election by the Company to redeem the Securities shall be evidenced;

 

		(8)	the obligation or the right, if any, of the Company to redeem or purchase any Securities of the series
pursuant to any sinking fund or at the option of the Holder thereof and the period or periods within which, the price or prices at which
and the terms and conditions upon which any Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to
such obligation;

 

		(9)	if other than denominations of $2,000 and any integral multiple of $1,000 in excess thereof, the denominations
in which any Securities of the series shall be issuable;

 

		(10)	if the amount of principal of or premium, if any, or interest on any Securities of the series may be determined
with reference to a financial or economic measure or index or pursuant to a formula, the manner in which such amounts shall be determined;

 

		(11)	if other than the currency of the United States of America, the currency, currencies or currency units
in which the principal of or premium, if any, or interest on any Securities of the series shall be payable and the manner of determining
the equivalent thereof in the currency of the United States of America for any purpose, including for purposes of the definition of “Outstanding”
in Section 101;

 

		(12)	if the principal of or premium, if any, or interest on any Securities of the series is to be payable,
at the election of the Company or the Holder thereof, in one or more currencies or currency units other than that or those in which such
Securities are stated to be payable, the currency, currencies or currency units in which the principal of or premium, if any, or interest
on such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon which
such election is to be made and the amount so payable (or the manner in which such amount shall be determined);

 

		(13)	if other than the entire principal amount thereof, the portion of the principal amount of any Securities
of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502;

 

		(14)	if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable
as of any one or more dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities
as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable upon
any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or,
in any such case, the manner in which such amount deemed to be the principal amount shall be determined);

 

    13

     

    

 

		(15)	if other than by a Company Resolution, the manner in which any election by the Company to defease any
Securities of the series pursuant to Section 1302 or Section 1303 shall be evidenced; whether
any Securities of the series other than Securities denominated in U.S. dollars and bearing interest at a fixed rate are to be subject
to Section 1302 or Section 1303; or, in the case of Securities denominated in U.S. dollars and
bearing interest at a fixed rate, if applicable, that the Securities of the series, in whole or any specified part, shall not be defeasible
pursuant to Section 1302 or Section 1303 or both such Sections;

 

		(16)	if applicable, that any Securities of the series shall be issuable in whole or in part in the form of
one or more Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends
which shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 202 and
any circumstances in addition to or in lieu of those set forth in clause (2) of the last paragraph of Section 305 in
which any such Global Security may be exchanged in whole or in part for Securities registered, and any transfer of such Global Security
in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee
thereof and any other provisions governing exchanges or transfers of such Global Security;

 

		(17)	any addition to, deletion from or change in the Events of Default which applies to any Securities of the
series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof
due and payable pursuant to Section 502;

 

		(18)	any addition to, deletion from or change in the covenants set forth in Article X which
applies to Securities of the series;

 

		(19)	if the Securities of the series are to be convertible into or exchangeable for cash and/or any securities
or other property of any Person (including the Company), the terms and conditions upon which such Securities will be so convertible or
exchangeable;

 

		(20)	whether the Securities of the series will be secured by any collateral and, if so, the terms and conditions
upon which such Securities shall be secured and, if applicable, upon which such liens may be subordinated to other liens securing other
indebtedness of the Company;

 

		(21)	if a party other than Wilmington Trust, National Association is to act as Trustee for the Securities of
such series, the name and Corporate Trust Office of such party;

 

		(22)	any additional or different subordination terms applicable to Securities of the series; and

 

		(23)	any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture,
except as permitted by Section 901(11)).

 

All Securities of any one
series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to the Company
Resolution referred to above or pursuant to authority granted by one or more Company Resolutions and, subject to Section 303,
set forth, or determined in the manner provided, in the Officer’s Certificate of the Company referred to above or in any such indenture
supplemental hereto.

 

All Securities of any one
series need not be issued at one time and, unless otherwise provided in or pursuant to the Company Resolution referred to above and, subject
to Section 303, set forth, or determined in the manner provided, in the Officer’s Certificate of the Company referred
to above or pursuant to authority granted by one or more Company Resolutions or in any such indenture supplemental hereto with respect
to a series of Securities, additional Securities of a series may be issued, at the option of the Company, without the consent of any Holder,
at any time and from time to time.

 

If any of the terms of the
series are established by action taken pursuant to a Company Resolution, a copy of an appropriate record of such action shall be certified
by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s
Certificate of the Company setting forth the terms of the series.

 

    14

     

    

 

Section 302     Denominations.
The Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall be specified
as contemplated by Section 301. In the absence of any such specified denomination with respect to the Securities of any
series, the Securities of such series shall be issuable in denominations of $2,000 and any integral multiple of $1,000 in excess thereof.

 

Section 303     Execution,
Authentication, Delivery and Dating. The Securities shall be executed on behalf of the Company by one of its Officers. The signature
on the Securities may be manual, electronic or facsimile.

 

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

 

At any time and from time
to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to
the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee
in accordance with the Company Order shall authenticate and deliver such Securities. If the form or terms of the Securities of the series
have been established by or pursuant to one or more Company Resolutions or pursuant to authority granted by one or more Company Resolutions
as permitted by Sections 201 and 301, in authenticating such Securities, and accepting the additional responsibilities under
this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and, subject to Section 601,
shall be fully protected in relying upon, an Opinion of Counsel stating,

 

		(1)	if the form of such Securities has been established by or pursuant to Company Resolution or pursuant to
authority granted by one or more Company Resolutions as permitted by Section 201, that such form has been established
in conformity with the provisions of this Indenture;

 

		(2)	if the terms of such Securities have been established by or pursuant to Company Resolution or pursuant
to authority granted by one or more Company Resolutions as permitted by Section 301, that such terms have been established
in conformity with the provisions of this Indenture; and

 

		(3)	that such Securities, when authenticated by the Trustee and issued and delivered by the Company in the
manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the
Company, enforceable against the Company in accordance with their terms, subject to (i) the effects of bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, (ii) general
equitable principles and (iii) an implied covenant of good faith and fair dealing.

 

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

 

Notwithstanding the provisions
of Section 301 and of the preceding paragraph of this Section 303, if all Securities of a series
are not to be originally issued at one time, except in the event that the aggregate principal amount of a series of Outstanding Securities
is increased as contemplated by Section 301, it shall not be necessary to deliver the Officer’s Certificate of
the Company otherwise required pursuant to Section 301 or Opinion of Counsel otherwise required pursuant to this Section 303 at
or prior to the authentication of each Security of such series if such documents are delivered at or prior to the authentication upon
original issuance of the first Security of such series to be issued.

 

Each Security shall be dated
the date of its authentication.

 

    15

     

    

 

No Security shall be entitled
to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a certificate of authentication
substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall
be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder. Notwithstanding
the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the
Company shall deliver such Security to the Trustee for cancellation as provided in Section 309, for all purposes of this
Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits
of this Indenture.

 

Section 304     Temporary
Securities. Pending the preparation of definitive Securities of any series, the Company may execute, and, upon Company Order, the
Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced,
in any authorized denomination, substantially of the tenor of the definitive Securities of such series in lieu of which they are issued
and with such appropriate insertions, omissions, substitutions and other variations as the Officer or Officers executing such Securities
may determine, as evidenced by their execution thereof.

 

If temporary Securities of
any series are issued, the Company will cause definitive Securities of such series to be prepared without unreasonable delay. After the
preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities
of such series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place of Payment
for such series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series,
the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or more definitive Securities of the
same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged, the temporary Securities
of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and
tenor.

 

Section 305     Registration,
Registration of Transfer and Exchange. The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register
(the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide
for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for
the purpose of registering Securities and transfers of Securities as herein provided.

 

Upon surrender for registration
of transfer of any Security of a series at the office or agency of the Company in a Place of Payment for such series, the Company shall
execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities
of the same series, of any authorized denominations and of like tenor and principal amount.

 

At the option of the Holder,
Securities of any series may be exchanged for other Securities of the same series, of any authorized denominations and of like tenor and
principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered
for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities, which the Holder making the exchange
is entitled to receive.

 

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

 

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

 

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

 

    16

     

    

 

If the Securities of any series
(or of any series and specified tenor) are to be redeemed in part, the Company shall not be required (A) to issue, register the transfer
of or exchange any Securities of such series (or of such series and specified tenor, as the case may be) during a period beginning at
the opening of business 15 days before the day of the mailing of a notice of redemption of any such Securities selected for redemption
under Section 1103 and ending at the close of business on the day of such mailing, or (B) to register the transfer
of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed
in part.

 

Neither the Trustee nor the
Security Registrar shall have any obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer
imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers
between or among Depositary participants or beneficial owners of interests in any Global Security).

 

The provisions of clauses (1), (2), (3) and (4) of
this paragraph shall apply only to Global Securities:

 

		(1)	Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary
designated for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor,
and each such Global Security shall constitute a single Security for all purposes of this Indenture.

 

		(2)	Notwithstanding any other provision in this Indenture, and subject to such applicable provisions, if any,
as may be specified as contemplated by Section 301, no Global Security may be exchanged in whole or in part for Securities
registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other than the Depositary
for such Global Security or a nominee thereof unless (A) such Depositary has notified the Company that it is unwilling or unable
or no longer permitted under applicable law to continue as Depositary for such Global Security and a successor Depositary is not appointed
within 90 days, (B) there shall have occurred and be continuing an Event of Default with respect to such Global Security, (C) subject
to the Applicable Procedures, the Company so directs the Trustee by a Company Order or (D) there shall exist such circumstances,
if any, in addition to or in lieu of the foregoing as have been specified for this purpose as contemplated by Section 301.

 

		(3)	Subject to clause (2) above and to such applicable provisions, if any, as may be specified as contemplated
by Section 301, any exchange of a Global Security for other Securities may be made in whole or in part, and all Securities
issued in exchange for a Global Security or any portion thereof shall be registered in such names as the Depositary for such Global Security
shall direct.

 

		(4)	Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in
lieu of, a Global Security or any portion thereof, whether pursuant to this Section 305, 304, 306, 906 or 1107 or
otherwise, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such Security is registered in
the name of a Person other than the Depositary for such Global Security or a nominee thereof.

 

Section 306     Mutilated,
Destroyed, Lost and Stolen Securities. If any mutilated Security is surrendered to the Trustee together with such security or indemnity
as may be required by the Company or the Trustee to save each of them harmless, the Company shall execute and the Trustee shall authenticate
and deliver in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding.

 

If there shall be delivered
to the Company and the Trustee (1) evidence to their satisfaction of the destruction, loss or theft of any Security and (2) such
security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of
notice to the Company or the Trustee that such Security has been acquired by a protected purchaser, the Company shall execute and the
Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and
of like tenor and principal amount, and bearing a number not contemporaneously outstanding.

 

    17

     

    

 

In case any such mutilated,
destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing
a new Security, pay such Security.

 

Upon the issuance of any new
Security under this Section 306, the Company may require the payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of counsel to the Company and the
fees and expenses of the Trustee and its counsel) connected therewith.

 

Every new Security of any
series issued pursuant to this Section 306 in lieu of any mutilated, destroyed, lost or stolen Security shall constitute
an original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be
at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and
all other Securities of such series duly issued hereunder.

 

The provisions of this Section 306 are
exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities.

 

Section 307     Payment
of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301 with respect
to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment
Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest.

 

Any interest on any Security
of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (the “Defaulted
Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such
Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or (2) below:

 

		(1)	The Company may elect to make payment of any Defaulted Interest payable on Securities of a series to the
Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business
on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify
the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed
payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to
be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date
of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest
as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall
be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt
by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in
the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record
Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less
than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date
therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or
their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable
pursuant to the following clause (2).

 

		(2)	The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful
manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice
as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause,
such manner of payment shall be deemed practicable by the Trustee. Notwithstanding the foregoing, any interest which is paid prior to
the expiration of the 30-day period set forth in Section 5.01(1) shall be paid to Holders as of the record date for the Interest
Payment Date for which interest has not been paid.

 

    18

     

    

 

Subject to the foregoing provisions
of this Section 307, each Security delivered under this Indenture upon registration of transfer of or in exchange for
or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other
Security.

 

In the case of any Security
which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (other than any Security
whose Maturity is prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable
on such Interest Payment Date notwithstanding such conversion, and such interest (whether or not punctually paid or made available for
payment) shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of
business on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any
Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security shall not be payable. Notwithstanding
the foregoing, the terms of any Security that may be converted may provide that the provisions of this paragraph do not apply, or apply
with such additions, changes or omissions as may be provided thereby, to such Security.

 

Section 308     Persons
Deemed Owners. Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of
receiving payment of principal of and premium, if any, and, subject to Section 307, any interest on such Security and
for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the
Company or the Trustee shall be affected by notice to the contrary.

 

Section 309     Cancellation.
All Securities surrendered for payment, redemption, registration of transfer or exchange or conversion or for credit against any sinking
fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by
it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder
which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the
Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities
so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities
cancelled as provided in this Section 309, except as expressly permitted by this Indenture. All cancelled Securities
held by the Trustee shall be disposed of in accordance with its customary procedures. The Trustee shall provide the Company a list of
all Securities that have been cancelled from time to time as requested, in writing, by the Company.

 

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

 

Section 311     CUSIP
or ISIN Numbers. The Company in issuing any series of the Securities may use CUSIP or ISIN numbers and/or other similar numbers, if
then generally in use, and thereafter with respect to such series, the Trustee may use such numbers in any notice of redemption with respect
to such series; provided that any such notice may state that no representation is made as to the correctness of such
numbers either as printed on the Securities of such series or as contained in any notice of a redemption and that reliance may be placed
only on the other identification numbers printed on the Securities of such series, and any such redemption shall not be affected by any
defect in or omission of such numbers. The Company will promptly make the Trustee aware of any changes to the CUSIP or ISIN numbers.

 

Section 312     Original
Issue Discount. If any of the Securities is an Original Issue Discount Security, the Company shall file with the Trustee promptly
at the end of each calendar year (1) a written notice specifying the amount of original issue discount (including daily rates and
accrual periods) accrued on such Outstanding Original Issue Discount Securities as of the end of such year and (2) such other specific
information relating to such original issue discount as may then be relevant under the Internal Revenue Code.

 

    19

     

    

 

Section 313     General
Provisions Relating to Global Securities. Owners of beneficial interests in the Securities evidenced by a Global Security will not
be entitled to any rights under this Indenture with respect to such Global Security, and the Depositary or its nominee may be treated
by the Company and the Trustee and any agent of the Company or the Trustee, including any Security Registrar or Paying Agent as the owner
and Holder of such Global Security for all purposes whatsoever. None of the Company, the Trustee, the Security Registrar, the Paying Agent
or any other agent of the Company or of the Trustee shall have any responsibility or liability for any aspect of the records relating
to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any
records relating to such beneficial ownership interests. None of the Company, the Trustee, the Security Registrar, the Paying Agent or
any other agent of the Company or of the Trustee shall have any responsibility or liability to any person for any acts or omissions of
the Depositary or its nominee in respect of a Global Security, for the records of any such Depositary, including records in respect of
beneficial ownership interests in respect of such Global Security, for any transactions between such Depositary and any participant or
indirect participant in such Depositary or between or among such Depositary, any participant or indirect participant in such Depositary
and/or any Holder or owner of a beneficial interest in such Global Security, or for any transfers of beneficial interests in any such
Global Security. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee, the Security Registrar or the Paying
Agent or such agent from giving effect to any written certification, proxy or other authorization furnished by the Depositary or its nominee
or impair, as between the Depositary or its nominee and such owners of beneficial interests, the operation of customary practices governing
the exercise of the rights of the Depositary or its nominee as Holder of any Global Security.

 

Section 314     No
Gross Up. Unless otherwise provided in an applicable supplemental indenture, the Company and the Trustee shall be entitled to make
any withholding or deduction for, or on account of, any other present or future taxes, duties, assessments or governmental charges, and
the Company shall not be obligated to pay any additional amounts with respect to the Securities as a result of any such withholding or
deduction.

 

ARTICLE IV

SATISFACTION AND DISCHARGE

 

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

 

		(1)	either

 

		(A)	all Securities of such series theretofore authenticated and delivered (other than (i) Securities
which have been mutilated, destroyed, lost or stolen and which have been replaced or paid as provided in Section 306 and
(ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee
for cancellation; or

 

		(B)	all such Securities 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 of the date of deposit, 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 Company,

 

    20

     

    

 

and the Company, 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 money in an amount sufficient to pay
and discharge the entire indebtedness on such Securities 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 Securities which have become due and payable) or to the Stated
Maturity or Redemption Date, as the case may be;

 

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

 

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

 

In the event there are Securities
of two or more series hereunder, the Trustee shall be required to execute an instrument acknowledging satisfaction and discharge of this
Indenture only if requested to do so with respect to Securities of such series as to which it is Trustee and if the other conditions thereto
are met.

 

Notwithstanding the satisfaction
and discharge of this Indenture, the obligations of the Company to the Trustee under Section 607 and, if money shall
have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section 401,
the obligations of the Trustee under Section 402 and the last paragraph of Section 1003 shall
survive.

 

Section 402     Application
of Trust Money. Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee
pursuant to Section 401 shall be held in trust and applied by it, in accordance with the provisions of the applicable
series of Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as
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. All money deposited with the Trustee pursuant to Section 401 (and
held by it or any Paying Agent) for the payment of Securities subsequently converted into other property shall be returned to the Company
upon Company Request. The Company may direct by a Company Order the investment of any money deposited with the Trustee pursuant to Section 401,
without distinction between principal and income, in (1) United States Treasury securities with a maturity of one year or less or
(2) a money market fund that invests solely in short-term United States Treasury securities (including money market funds for which
the Trustee or an affiliate of the Trustee serves as investment advisor, administrator, shareholder, servicing agent and/or custodian
or sub-custodian, notwithstanding that (a) the Trustee charges and collects fees and expenses from such funds for services rendered
and (b) the Trustee charges and collects fees and expenses for services rendered pursuant to this Indenture at any time) and from
time to time the Company may direct the reinvestment of all or a portion of such money in other securities or funds meeting the criteria
specified in clause (1) or (2) of this Section 402. The Trustee shall have no responsibility
or liability for any loss which may result from any investment or sale of investment made pursuant to this Indenture.

 

ARTICLE V

REMEDIES

 

Section 501     Events
of Default. Except as may be otherwise provided pursuant to Section 301 for Securities of any series, an “Event
of Default” means, whenever used herein or in a Security issued hereunder with respect to Securities of any series, any one
of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected
by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative
or governmental body):

 

		(1)	the Company defaults in the payment of any installment of interest on any Security of such series, and
such default continues for a period of 30 days after such payment becomes due and payable (whether or not prohibited by the subordination
provisions of this Indenture);

 

		(2)	the Company defaults in the payment of the principal of or premium, if any, on any Security of such series
when the same becomes due and payable, regardless of whether such payment became due and payable at its Stated Maturity, upon redemption,
upon declaration of acceleration or otherwise;

 

    21

     

    

 

		(3)	the Company defaults in the deposit of any sinking fund payment, when and as due by the terms of a Security
of such series (whether or not prohibited by the subordination provisions of this Indenture);

 

		(4)	the Company defaults in the performance of, or breaches, any of its covenants and agreements in respect
of any Security of such series contained in this Indenture or in the Securities of such series (other than those referred to in (1), (2) or (3) above),
and such default or breach continues for a period of 90 days after the notice specified below;

 

		(5)	the Company, pursuant to or within the meaning of the Bankruptcy Law (as defined below):

 

		(A)	commences a voluntary case or proceeding;

 

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

 

		(C)	consents to the appointment of a Custodian (as defined below) of it or for all or substantially all of
its property;

 

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

 

		(E)	files a petition in bankruptcy or answer or consent seeking reorganization or relief;

 

		(F)	consents to the filing of such petition or the appointment of or taking possession by a Custodian; or

 

		(G)	takes any comparable action under any foreign laws relating to insolvency;

 

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

 

		(A)	is for relief against the Company in an involuntary case, or adjudicates the Company insolvent or bankrupt;

 

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

 

		(C)	orders the winding-up or liquidation of the Company (or any similar relief is granted under any foreign
laws),

 

and the order or
decree remains unstayed and in effect for 90 days; or

 

		(7)	any other Event of Default provided with respect to Securities of such series occurs.

 

A Default with respect to
Securities of any series under clause (4) of this Section 501 shall not be an Event of Default
until the Trustee (by written notice to the Company) or the Holders of not less than 25% in aggregate principal amount of the Outstanding
Securities of such series (by written notice to the Company and the Trustee) gives notice of the Default and the Company does not cure
such Default within the time specified in clause (4) after receipt of such notice. Such notice must specify the Default,
demand that it be remedied and state that such notice is a “Notice of Default.”

 

The Trustee is not to be charged
with knowledge of any Default or Event of Default or knowledge of any cure of any Default or Event of Default unless either (i) a
Responsible Officer of the Trustee with direct responsibility for this Indenture has actual knowledge of such Default or Event of Default
or (ii) written notice of such Default or Event of Default has been given to the Trustee by the Company or any Holder.

 

    22

     

    

 

Section 502     Acceleration
of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series at the time Outstanding (other
than an Event of Default specified in Section 501(5) or (6) with respect to the Company) occurs
and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding
Securities of such series may declare the principal amount of all the Securities of such series (or, if any Securities of such series
are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof),
together with any accrued and unpaid interest thereon, to be due and payable immediately, by a notice in writing to the Company (and to
the Trustee if given by Holders), and upon any such declaration, such principal amount (or specified amount), together with any accrued
and unpaid interest thereon, shall become immediately due and payable; provided, however, that the payment of principal, premium, if any,
and accrued interest, if any, on the Securities of such series shall remain subordinated to the extent provided in Article XIV.
If an Event of Default specified in Section 501(5) or (6) with respect to the Company occurs, the
principal amount of all the Securities of such series (or, in the case of any Security of such series which specifies an amount to be
due and payable thereon upon acceleration of the Maturity thereof, such amount as may be specified by the terms thereof), together with
any accrued and unpaid interest thereon, shall automatically, and without any declaration or other action on the part of the Trustee or
any Holder, become immediately due and payable; provided, however, that the payment of principal, premium, if any, and accrued interest,
if any, on the Securities of such series shall remain subordinated to the extent provided in Article XIV. Upon payment
of such amount, all obligations of the Company in respect of the payment of principal and interest of the Securities of such series shall
terminate.

 

Except as may otherwise be
provided pursuant to Section 301 for all or any specific Securities of any series, at any time after such a declaration
of acceleration with respect to the Securities of any series has been made and before a judgment or decree for payment of the money due
based on such acceleration has been obtained by the Trustee as hereinafter in this Article V provided, the Holders
of a majority in aggregate principal amount of the Outstanding Securities of such series, by written notice to the Company and the Trustee,
may rescind and annul such declaration and its consequences if:

 

		(1)	the Company has paid or deposited with the Trustee a sum sufficient to pay:

 

		(A)	all overdue interest on all Securities of such series,

 

		(B)	the principal of and premium, if any, on any Securities of such series which have become due otherwise
than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in the Securities of such series,

 

		(C)	to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates
prescribed therefor in such Securities, and

 

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

 

		(2)	all Events of Default with respect to Securities of such series, other than the nonpayment of the principal
of Securities of such series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 512.

 

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

 

Section 503     Collection
of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if (1) default is made in the payment of any
interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or (2) default
is made in the payment of the principal of or premium, if any, on any Security at the Maturity thereof, the Company will, upon demand
of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities
for principal and premium, if any, and interest and, to the extent that payment of such interest shall be legally enforceable, interest
on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in
addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel.

 

    23

     

    

 

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

 

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

 

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

 

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

 

and any custodian, receiver, assignee, trustee,
liquidator, sequestrator (or other similar official) in any such judicial proceeding is hereby authorized by the Holder to make such payments
to the Trustee and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and
for any other amounts due the Trustee under Section 607.

 

No provision of this Indenture
shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization,
arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote
in respect of the claim of any Holder in any such proceeding; provided, however, that the Trustee may, on behalf of the
Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee.

 

Section 505     Trustee
May Enforce Claims Without Possession of Securities. All rights of action and claims under this Indenture or the Securities may
be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding
relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and
any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of
the Trustee, any predecessor Trustee under Section 607, its agents and counsel, be for the ratable benefit of the Holders
of the Securities in respect of which such judgment has been recovered.

 

Section 506     Application
of Money Collected. Any money collected by the Trustee pursuant to this Article V, and any money or other property distributable
in respect of the Company’s obligations under this Indenture after the occurrence of an Event of Default, shall be applied in the
following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or premium,
if any, or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender
thereof if fully paid:

 

FIRST: To the payment of all
amounts due the Trustee (including any predecessor Trustee) under Section 607;

 

    24

     

    

 

SECOND: To the payment of
all Senior Indebtedness of the Company if and to the extent required by Article XIV or other subordination provisions
applicable with respect to such series;

 

THIRD: To the payment of the
amounts then due and unpaid for principal of and premium, if any, and interest on the Securities in respect of which or for the benefit
of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable
on such Securities for principal and premium, if any, and interest, respectively; and

 

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

 

Section 507     Limitation
on Suits. Except as otherwise provided in Section 508, no Holder of any Security of any series shall have any right to
institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver, assignee, trustee,
liquidator or sequestrator (or similar official) or for any other remedy hereunder, unless:

 

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

 

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

 

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

 

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

 

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

 

it being understood and intended that no one or
more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect,
disturb or prejudice the rights of any other of such Holders (it being understood that the Trustee has no duty to determine whether any
direction is unduly prejudicial to any Holder of a Note), or to obtain or to seek to obtain priority or preference over any other of such
Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all
of such Holders.

 

Section 508     Unconditional
Right of Holders to Receive Principal, Premium and Interest and to Convert Securities. Notwithstanding any other provision in this
Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of
and premium, if any, and, subject to Section 307, interest on such Security on the respective Stated Maturities expressed
in such Security (or, in the case of redemption or repayment, on the Redemption Date or date for repayment, as the case may be, and, if
the terms of such Security so provide, to convert such Security in accordance with its terms) and to institute suit for the enforcement
of any such payment and, if applicable, any such right to convert, and such rights shall not be impaired without the consent of such Holder.

 

Section 509     Rights
and Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or
stolen Securities in the last paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee
or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted
by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity
or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy.

 

    25

     

    

 

 

Section 510       Delay
or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing
upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence
therein. Every right and remedy given by this Article V or by law to the Trustee or to the Holders may be exercised
from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

 

Section 511       Control
by Holders. The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series shall
have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising
any trust or power conferred on the Trustee, with respect to the Securities of such series; provided that

 

		(1)	such direction shall not be in conflict with any rule of law or with this Indenture and shall not
involve the Trustee in any personal liability, and

 

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

 

Before proceeding to exercise
any right or power hereunder at the direction of the Holders, the Trustee shall be entitled to receive from such Holders security or indemnity
satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

 

Section 512      Waiver
of Past Defaults. The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series
may on behalf of the Holders of all the Securities of such series waive any past Default hereunder with respect to such series and its
consequences, except a Default

 

		(1)	in the payment of the principal of or premium, if any, or interest on any Security of such series, or

 

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

 

provided that
there had been paid or deposited with the Trustee a sum sufficient to pay all amounts due to the Trustee and to reimburse the Trustee
for any and all fees, expenses and disbursements advanced by the Trustee, its agents and its counsel incurred in connection with such
Default or Event of Default.

 

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

 

Section 513       Undertaking
for Costs. In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken, suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay
the costs of such suit, and may assess reasonable costs against any such party litigant, in the manner and to the extent provided in the
Trust Indenture Act; provided that neither this Section 513 nor the Trust Indenture Act shall be deemed to
authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company or the Trustee,
a suit by a Holder under Section 508, or a suit by Holders of more than 10% in aggregate principal amount of the Outstanding
Securities.

 

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

 

    26

     

    

 

Section 515       Restoration
of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture
and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder,
then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall
continue as though no such proceeding had been instituted.

 

ARTICLE VI

THE TRUSTEE

 

Section 601      Certain
Duties and Responsibilities of Trustee.

 

		(1)	Except during the continuance of an Event of Default with respect to any series of Securities,

 

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

 

		(B)	in the absence of bad faith on its part, the Trustee may conclusively rely with respect to the Securities
of such series, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions
furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which
by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same
to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical
calculations or other facts, statements, opinions or conclusions stated therein).

 

		(2)	In case an Event of Default with respect to any series of Securities has occurred and is continuing, the
Trustee shall exercise such of the rights and powers vested in it by this Indenture with respect to the Securities of such series, and
use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct
of his or her own affairs.

 

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

 

		(A)	this Section 601(3) shall not be construed to limit the effect of Section 601(1) or Section 601(4);

 

		(B)	the Trustee shall not be liable for any error of judgment made in good faith and is actually known to
a Responsible Officer of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and

 

		(C)	the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good
faith in accordance with the direction of the Holders of a majority in aggregate principal amount of the Outstanding Securities of any
series, determined as provided in Sections 101, 104 and 111, relating to the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee,
under this Indenture with respect to the Securities of such series.

 

		(4)	No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if
it shall have reasonable grounds for believing that repayment of such funds or indemnity satisfactory to it against such risk or liability
is not reasonably assured to it.

 

    27

     

    

 

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

 

Section 602      Notice
of Defaults. If an Event of Default occurs with respect to Securities of any series and is continuing and written notice of such Default
has been received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, the Trustee shall give to each
Holder of Securities of such series notice of Default within 90 days after such written notice is received by such Responsible Officer.
Except in the case of a Default in payment of principal of or interest on any Security, the Trustee may withhold notice if and so long
as a Responsible Officer in good faith determines that withholding such notice is in the interests of Holders of Securities of such series.

 

Section 603      Certain
Rights of Trustee. Subject to the provisions of Section 601:

 

		(1)	the Trustee may conclusively rely and shall fully be protected in acting or refraining from acting upon
any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, judgment, bond, debenture,
note, other evidence of indebtedness, electronic communication or other paper or document believed by it to be genuine and to have been
signed, sent or presented by the proper party or parties;

 

		(2)	any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company
Request or Company Order, and any resolution of the board of directors of the Company shall be sufficiently evidenced by a Company Resolution
thereof;

 

		(3)	whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be
proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically
prescribed) may, request, and conclusively rely upon an Officer’s Certificate and an Opinion of Counsel;

 

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

 

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

 

		(6)	the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, judgment, bond, debenture, note, other
evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation
into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall
be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company
and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation;

 

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

 

    28

     

    

 

		(8)	the rights, privileges, protections, immunities and benefits given to the Trustee, including, without
limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder
and each agent employed to act hereunder; provided (i) an Agent shall only be liable to extent of its gross negligence or willful
misconduct, and (ii) in and during an Event of Default, only the Trustee, and not any Agent, shall be subject to the prudent person
standard.

 

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

 

		(10)	anything in this Indenture notwithstanding, in no event shall the Trustee be responsible or liable for
special, indirect, incidental, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of
profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action;

 

		(11)	in no event shall the Trustee be responsible or liable for any failure or delay in the performance of
its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation,
strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts
of God, epidemics, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services or
the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility (it being understood that the Trustee
shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable
under the circumstances);

 

		(12)	the Trustee shall not be deemed to have notice of any Default or Event of Default unless written notice
of such Default or Event of Default, as the case may be, has been received by a Responsible Officer of the Trustee at the Corporate Trust
Office of the Trustee from the Company or any Holder, and such notice references the Securities and this Indenture;

 

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

 

		(14)	the permissive right of the Trustee to take or refrain from taking action hereunder shall not be construed
as a duty.

 

		(15)	The trustee shall not be required to give any bond or surety
in respect of the execution of the trusts and powers under this Indenture.

 

Section 604       Not
Responsible for Recitals or Issuance of Securities. The recitals contained herein and in the Securities, except the Trustee’s
certificates of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness.
The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be
accountable for the use or application by the Company of Securities or the proceeds thereof.

 

Section 605       May Hold
Securities. The Trustee, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any other
capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise
deal with the Company with the same rights it would have if it were not Trustee, Paying Agent, Security Registrar or such other agent.

 

    29

     

    

 

Section 606           Money
Held in Trust. Money held by the Trustee in trust hereunder shall, until used or applied as herein provided, be held in trust for
the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee
shall be under no liability for interest income on any money received by it hereunder except as otherwise agreed with the Company.

 

Section 607           Compensation
and Reimbursement. The Company agrees:

 

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

 

		(2)	except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all expenses,
disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable
compensation and the expenses and disbursements of its agents and counsel and all Persons not regularly in its employ), except any such
expense, disbursement or advance as may be attributable to its negligence, or willful misconduct, and the Trustee shall provide the Company
reasonable notice of any expenditure not in the ordinary course of business; and

 

		(3)	to indemnify each of the Trustee or any predecessor Trustee and their officers, agents, directors and
employees for, and to hold them harmless against, any and all loss, damage, claims, liability or expense incurred without negligence or
willful misconduct (as determined by a court of competent jurisdiction in a final and non-appealable order) on its part, arising out of
or in connection with this Indenture, the Securities and the transactions contemplated hereby and thereby, including the acceptance or
administration of the trust or trusts hereunder, including the reasonable costs and expenses (including the reasonable fees and expenses
of counsel) of defending itself against any claim (whether asserted by the Company, or any Holder or any other Person) or liability in
connection with the exercise or performance of any of its powers or duties hereunder, or in connection with enforcing the provisions of
this Section.

 

In addition to, but without
prejudice to its other rights under this Indenture, when the Trustee incurs expenses or renders services in connection with an Event of
Default specified in Section 501(5) or 501(6), the expenses (including the reasonable charges and expenses
of its counsel) and the compensation for the services are intended to constitute administrative expenses for purposes of priority under
any applicable Federal or state bankruptcy, insolvency or other similar law.

 

“Trustee”
for purposes of this Section shall include any predecessor Trustee; provided, however, that the negligence, willful
misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder.

 

As security for the performance
of the obligations of the Company under this Section, the Trustee shall have a lien prior to the Securities upon all property and funds
held or collected by it hereunder for any amount owing it or any predecessor Trustee pursuant to this Section 607, except
with respect to funds held in trust for the benefit of the Holders of particular Securities for the payment of principal of and premium,
if any, or interest.

 

The provisions of this Section 607 shall
survive the satisfaction and discharge of the Securities, the termination for any reason of this Indenture and the resignation or removal
of the Trustee.

 

Section 608       Conflicting
Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of Section 310(b) of the Trust
Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to
the provisions of, the Trust Indenture Act and this Indenture.

 

To the extent permitted by
the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under this Indenture
with respect to Securities of more than one series.

 

    30

     

    

 

Section 609        Corporate
Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of
each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible
pursuant to the Trust Indenture Act to act as such, has a combined capital and surplus of at least $50,000,000 and has its Corporate Trust
Office in the United States that is acceptable to the Company. If any such Person publishes reports of condition at least annually, pursuant
to law or to the requirements of its supervising or examining authority, then for the purposes of this Section 609 and
to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined
capital and surplus as set forth in its most recent annual report of condition so published. If at any time the Trustee with respect to
the Securities of any series shall cease to be eligible in accordance with the provisions of this Section 609, it shall
resign immediately in the manner and with the effect hereinafter specified in this Article VI.

 

Section 610        Resignation
and Removal; Appointment of Successor. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant
to this Article VI shall become effective until the acceptance of appointment by the successor Trustee in accordance
with the applicable requirements of Section 611.

 

The Trustee or any successor
hereafter appointed may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the
Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered
to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the
Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 

The Trustee may be removed
at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding
Securities of such series, upon 30 days’ prior written notice delivered to the Trustee and to the Company. If the instrument of
acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30
days after the giving of such notice of removal or resignation, the Trustee being removed or resigning may petition, at the expense of
the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 

If at any time:

 

		(1)	the Trustee shall fail to comply with Section 608 after written request therefor
by the Company or any Holder who has been a bona fide Holder of a Security for at least six months, or

 

		(2)	the Trustee shall cease to be eligible under Section 609 and shall fail to resign
after written request therefor by the Company or any such Holder, or

 

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

 

then, in any such case, (A) the Company may
remove the Trustee with respect to all Securities or (B) subject to Section 513, Holders of 10% in aggregate principal
amount of Securities of any series who have been bona fide Holders of such Securities for at least six months may, on behalf of themselves
and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities
and the appointment of a successor Trustee or Trustees.

 

If the Trustee shall resign,
be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities
of one or more series, the Company shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those
series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such
series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply
with the applicable requirements of Section 611. If, within one year after the appointment by the Company of a successor
Trustee of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series may select a successor
Trustee to replace the successor Trustee appointed by the Company, and the appointment thereof shall be delivered to the Company and the
acting Trustee, the successor Trustee, and so appointed shall, forthwith upon its acceptance of such appointment in accordance with the
applicable requirements of Section 611, become the successor Trustee with respect to the Securities of such series and
to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any
series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 611,
Holders of 10% in aggregate principal amount of Securities of any series who have been bona fide Holders of Securities of such series
for at least six months may, on behalf of themselves and all others similarly situated, petition any court of competent jurisdiction for
the appointment of a successor Trustee with respect to the Securities of such series.

 

    31

     

    

 

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

 

Section 611        Acceptance
of Appointment by Successor. In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such
successor Trustee so appointed shall execute, acknowledge and deliver to the Company and the retiring Trustee a written instrument accepting
such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee,
but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver
a written instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign,
transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder subject nonetheless to the
lien provided for in Section 607.

 

In case of the appointment
hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee
and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto
wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or
desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if
the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable
to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series
as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change
any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder
by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees
of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts
hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or
removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further
act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor
Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring
Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates subject
nonetheless to the lien provided for in Section 607.

 

Upon request of any such successor
Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee
all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be.

 

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

 

Upon acceptance of appointment
by a successor trustee as provided in this Section, the Company shall transmit notice of the succession of such trustee hereunder by mail,
first class postage prepaid, to the Holders, as their names and addresses appear upon the Security Register. If the Company fails to transmit
such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to
be transmitted at the expense of the Company.

 

    32

     

    

 

Section 612        Merger,
Conversion, Consolidation or Succession to Business. Any Person into which the Trustee may be merged or converted or with which it
may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any
Person succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder; provided that
such Person shall be otherwise qualified and eligible under this Article VI, without the execution or filing of any paper
or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not delivered,
by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication
and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities;
and in case at that time any Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities
either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates
shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of
the Trustee shall have.

 

Section 613        Preferential
Collection of Claims Against Company. If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon
the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against
the Company (or any such other obligor).

 

Section 614       Trustee’s
Application for Instructions from the Company. Any application by the Trustee for written instructions from the Company may, at the
option of the Trustee, set forth in writing any action proposed (to the extent not provided for in this Indenture) to be taken or omitted
by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective.
The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application
on or after the date specified in such application (which date shall not be less than 10 Business Days after the date any officer of the
Company actually receives such application, unless any such officer shall have consented in writing to any earlier date) unless prior
to taking any such action (or the effective date in the case of an omission), the Trustee shall have received written instructions in
response to such application specifying the action to be taken or omitted.

 

ARTICLE VII

HOLDERS’ LISTS AND REPORTS BY THE TRUSTEE AND THE COMPANY

 

Section 701        Company
to Furnish Trustee Names and Addresses of Holders. If the Trustee is not the Security Registrar, the Company shall cause the Security
Registrar to furnish to the Trustee, in writing at least five 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 of Securities of each series.

 

Section 702        Preservation
of Information; Communications to Holders. The Trustee shall preserve, in as current a form as is reasonably practicable, the names
and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section 701 and
the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may dispose of any list
furnished to it as provided in Section 701 upon receipt of a new list so furnished.

 

The rights of Holders to communicate
with other Holders with respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges
of the Trustee, shall be as provided by the Trust Indenture Act.

 

Every Holder of Securities,
by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any agent of either
of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the
Trust Indenture Act.

 

    33

     

    

 

Section 703        Reports
by Trustee. The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as
may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. The Trustee shall,
within 60 days after each fiscal year following the date of this Indenture, deliver to Holders a brief report, dated as of such  fiscal year,
pursuant to this Section 703.

 

A copy of each such report
shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange and automated quotation system, if
any, upon which any Securities are listed, with the Commission (if accepted for filing by the Commission) and the Company. The Company
will notify the Trustee when any Securities are listed on any stock exchange or automated quotation system or delisted therefrom.

 

Section 704        Reports
by the Company. The Company shall comply with all the applicable provisions of the Trust Indenture Act. Delivery of reports, information
and documents to the Trustee is for informational purposes only and shall not constitute a representation or warranty as to the accuracy
or completeness of the reports, information and documents. 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 their covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates of the Company).

 

ARTICLE VIII

CONSOLIDATION, MERGER, SALE OF ASSETS AND OTHER TRANSACTIONS

 

Section 801       Company
May Merge or Transfer Assets on Certain Terms. The Company shall not be a party to a Substantially All Merger or participate
in a Substantially All Sale, unless:

 

		(1)	the Company is the surviving Person, or the Person formed by or surviving such Substantially All Merger
or to which such Substantially All Sale has been made (the “Successor Person”) is organized under the laws of the Permitted
Jurisdictions and has expressly assumed by supplemental indenture all of the obligations of the Company under this Indenture;

 

		(2)	immediately after giving effect to such transaction, no Default or Event of Default has occurred and is
continuing; and

 

		(3)	the Company delivers to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating
that such transaction and any supplemental indenture relating thereto comply with this Indenture and that all conditions precedent provided
for in this Indenture relating to such transaction have been complied with and that such supplemental indenture is valid, legal and binding
against the Successor Person.

 

Section 802       Successor
Person Substituted. Upon the consummation of a transaction contemplated by and consummated in accordance with Section 801,
the Successor Person shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture,
with the same effect as if such Successor Person had been an original party to this Indenture, and the Company shall be released from
all of its liabilities and obligations under this Indenture and the Securities.

 

ARTICLE IX

SUPPLEMENTAL INDENTURES

 

Section 901        Supplemental
Indentures Without Consent of Holders. Without the consent of any Holders, the Company and the Trustee, at any time and from time
to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes:

 

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

 

    34

     

    

 

		(2)	to evidence the succession of another Person to the Company, or successive successions, and the assumption
by the Successor Person of the covenants, agreements and obligations of the Company pursuant to Article VIII;

 

		(3)	to add any additional Events of Default for the benefit of the Holders of all or any series of Securities
(and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such additional
Events of Default are expressly being included solely for the benefit of such series);

 

		(4)	to secure the Securities;

 

		(5)	to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect
to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 611;

 

		(6)	to provide for the issuance of additional Securities of any series;

 

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

 

		(8)	to comply with the rules of any applicable Depositary;

 

		(9)	to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit
or facilitate the issuance of Securities in uncertificated form;

 

		(10)	to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series
of Securities; provided that any such addition, change or elimination (A) shall neither (i) apply to any Security
of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify
the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no
Security described in clause (i) Outstanding;

 

		(11)	to cure any ambiguity, to correct or supplement any provision of this Indenture which may be defective
or inconsistent with any other provision herein;

 

		(12)	to change any other provision contained in the Securities of any series or under this Indenture; provided that
such action pursuant to this clause (12) shall not adversely affect the interests of the Holders of Securities of any
series in any material respect; and

 

		(13)	to conform any provision of this Indenture or the Securities of any series to the description of such
Securities contained in the Company’s prospectus, prospectus supplement, offering memorandum or similar document with respect to
the offering of the Securities of such series.

 

Section 902        Supplemental
Indentures With Consent of Holders. With the consent of the Holders of not less than a majority in aggregate principal amount of the
Outstanding Securities of each series affected by such supplemental indenture (including consents obtained in connection with a tender
offer or exchange for Securities), by Act of said Holders delivered to the Company and the Trustee, the Company and the Trustee may enter
into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this
Indenture; provided, however, no such supplemental indenture shall, without the consent of the Holder of each Outstanding
Security of such series affected thereby:

 

		(1)	change the Stated Maturity of the principal of, or any installment of principal of or interest on, any
Security;

 

    35

     

    

 

		(2)	reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue
Discount Security or any other Security which would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant
to Section 502, or reduce the rate of or extend the time of payment of interest on any Security;

 

		(3)	reduce any premium payable upon the redemption of or change the date on which any Security may or must
be redeemed;

 

		(4)	change the coin or currency in which the principal of or premium, if any, or interest on any Security
is payable;

 

		(5)	impair the right of any Holder to institute suit for the enforcement of any such payment on or after the
Stated Maturity thereof (or, in the case of redemption or repayment, on or after the Redemption Date or Repayment Date, as applicable);

 

		(6)	reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of
whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance
with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture;

 

		(7)	modify any of the provisions of this Section 902, Section 512 or Section 1005,
except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without
the consent of the Holder of each Outstanding Security affected thereby; provided, however, that this clause shall not
be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant
changes in this Section 902 and Section 1005, or the deletion of this proviso, in accordance with
the requirements of Section 611 and Section 901(6);

 

		(8)	if the Securities of any series are convertible into or for any other securities or property of the Company,
make any change that adversely affects in any material respect the right to convert any Security of such series (except as permitted by Section 901)
or decrease the conversion rate or increase the conversion price of any such Security of such series, unless such decrease or increase
is permitted by the terms of such Security;

 

		(9)	subordinate the Securities of any series to any other obligation of the Company other than as provided
in Article XIV;

 

		(10)	modify the provisions of Article XIV in a manner adverse to any Holder of the Securities
of any series; or

 

		(11)	modify clauses (1) through (10) above.

 

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

 

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

 

Section 903       Execution
of Supplemental Indentures. In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article IX or
the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, in addition to the documents
provided by Section 102, and, subject to Section 601, shall be fully protected in relying upon, an Opinion
of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture and that all conditions
precedent in this Indenture to the execution of such supplemental indenture, if any, have been complied with; provided, however, that
no such Opinion of Counsel shall be required in the case of any supplemental indenture executed and delivered concurrently with the original
execution and delivery of this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which
affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.

 

    36

     

    

 

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

 

Section 905        Conformity
with Trust Indenture Act. Every supplemental indenture executed pursuant to this Article IX shall conform to
the requirements of the Trust Indenture Act.

 

Section 906        Notice
of Supplemental Indenture; Reference in Securities to Supplemental Indentures. After a supplemental indenture under Section 901 (other
than Section 901(8)) and 902 becomes effective, the Company shall notify Holders of such supplemental
indenture. Any failure of the Company to mail such notice, or any defect therein, or any failure of the Company to mail such supplemental
indenture, shall not in any way impair or affect the validity of any such supplemental indenture.

 

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

 

Section 907       Subordination
Unimpaired. This Indenture may not be amended at any time to alter the subordination, as provided herein, of any Securities then Outstanding
without the written consent of the requisite holders of each series of Senior Indebtedness (as determined in accordance with the terms
of the instrument governing such Senior Indebtedness) then outstanding that would be adversely affected thereby.

 

ARTICLE X

COVENANTS

 

Section 1001      Payment
of Principal, Premium, if any, and Interest. The Company covenants and agrees for the benefit of each series of Securities that it
will duly and punctually pay the principal of and premium, if any, and interest on the Securities of such series in accordance with the
terms of the Securities and this Indenture. Principal and interest shall be considered paid on the date due if, on or before 10:00 a.m. (New
York City time) on such date, the Trustee or the Paying Agent (or, if the Company is the Paying Agent, the segregated account or separate
trust fund maintained by the Company pursuant to Section 1003) holds in accordance with this Indenture money sufficient
to pay all principal, premium and interest then due.

 

The Company shall pay interest
on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on overdue installments of interest at
the same rate to the extent lawful as provided in Section 307.

 

Notwithstanding anything to
the contrary contained in this Indenture, the Company or the Paying Agent may, to the extent it is required to do so by law, deduct or
withhold income or other similar taxes imposed by the United States of America or other domestic or foreign taxing authorities from principal,
premium or interest payments hereunder.

 

Section 1002     Maintenance
of Office or Agency. The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities
of such series may be presented or surrendered for payment, where Securities of such series may be surrendered for registration of transfer
or exchange, where Securities may be surrendered for conversion, and where notices and demands to or upon the Company in respect of the
Securities of such series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location,
and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or
agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made
or served at the Corporate Trust Office of the Trustee. The Company hereby appoints the Trustee as its agent to receive all such presentations,
surrenders, notices and demands. However, nothing herein shall be deemed to constitute the Trustee as an Agent of the Company for service
of process.

 

    37

     

    

 

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

 

With respect to any Global
Security, and except as otherwise may be specified for such Global Security as contemplated by Section 301, the Corporate
Trust Office of the Trustee shall be the Place of Payment where such Global Security may be presented or surrendered for payment or for
registration of transfer or exchange, or where successor Securities may be delivered in exchange therefor; provided, however, that
any such payment, presentation, surrender or delivery effected pursuant to the Applicable Procedures of the Depositary for such Global
Security shall be deemed to have been effected at the Place of Payment for such Global Security in accordance with the provisions of this
Indenture.

 

Section 1003      Money
for Securities Payments to Be Held in Trust. If the Company shall at any time act as Paying Agent with respect to any series of Securities,
it will, on or before each due date for the principal of or premium, if any, or interest on any of the Securities of such series, segregate
and hold in trust for the benefit of the Holders of such Securities a sum sufficient to pay the principal and premium, if any, and interest
so becoming due until such sums shall be paid to such Holders or otherwise disposed of as herein provided and will promptly notify the
Trustee of its action or failure so to act.

 

Whenever the Company shall
have one or more Paying Agents for any series of Securities, it will, no later than 10:00 a.m. (New York City time) on each due date
for the principal of or premium, if any, or interest on any Securities of such series, deposit with a Paying Agent a sum sufficient to
pay such amount, such sum to be held in trust for the Holders of such Securities entitled to the same, and (unless such Paying Agent is
the Trustee) the Company will promptly notify the Trustee of its action or failure so to act.

 

The Company will cause each
Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying
Agent shall agree with the Trustee, subject to the provisions of this Section 1003, that such Paying Agent shall hold
in trust for the benefit of Holders or the Trustee all money held by such Paying Agent for the payment of principal of, premium, if any,
or interest on the Securities and shall notify the Trustee in writing of any default by the Company in making any such payment and that
it shall any time during the continuance of such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums
so held by such Paying Agent.

 

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

 

Subject to any applicable
abandoned property law, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment
of the principal of or premium, if any, or interest on any Security of any series and remaining unclaimed for two years after such principal,
premium or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall
be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company
for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the
Company as trustee thereof, shall thereupon cease.

 

    38

     

    

 

Section 1004      Statement
by Officers as to Default. The Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company
ending after the date hereof an Officer’s Certificate of the Company and one of the two Officers signing must be the Company’s
principal executive officer, principal financial officer or principal accounting officer, stating whether or not, to the best knowledge
of such Officer, the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture
applicable to it (without regard to any period of grace or requirement of notice provided hereunder) and, if the Company shall be in default,
specifying all such defaults and the nature and status thereof of which such Officer may have knowledge.

 

The Company shall deliver
to the Trustee, as soon as possible and in any event within 30 days after the Company becomes aware of the occurrence of any Default or
Event of Default an Officer’s Certificate setting forth the details of such Default or Event of Default, its status and the actions
which the Company is taking or proposes to take with respect thereto.

 

Section 1005      Waiver
of Certain Covenants. Except as otherwise specified as contemplated by Section 301 for Securities of such series,
the Company may, with respect to the Securities of any series, omit in any particular instance to comply with any term, provision or condition
set forth in any covenant provided pursuant to Section 301(18), Section 901(1) or Section 901(11) for
the benefit of the Holders of such series or in Article VIII, if before the time for such compliance the Holders of at
least a majority in aggregate principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive
such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend
to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective,
the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full
force and effect.

 

ARTICLE XI

REDEMPTION OF SECURITIES

 

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

 

Section 1102      Election
to Redeem; Notice to Trustee. The election of the Company to redeem any Securities shall be evidenced by a Company Resolution or an
Officer’s Certificate of the Company or in another manner specified as contemplated by Section 301 for such
Securities. In case of any redemption at the election of the Company of the Securities of any series (including any such redemption affecting
only a single Security), the Company shall, at least 15 days prior to the date any notice of a redemption is to be given to the Holders
pursuant to Section 1104 (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such
Redemption Date, of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities
to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in
the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officer’s Certificate
of the Company evidencing compliance with such restriction.

 

Section 1103      Selection
by Trustee of Securities to Be Redeemed. If less than all the Securities of any series are to be redeemed (unless all the Securities
of such series and of a specified tenor are to be redeemed or unless such redemption affects only a single Security), the particular Securities
to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of
such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate, including by lot or pro
rata, and which may provide for the selection for redemption of a portion of the principal amount of any Security of such series; provided that
the unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not be less than the
minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified tenor are to be
redeemed (unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more
than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor not previously
called for redemption in accordance with the preceding sentence. Notwithstanding the foregoing, as long as the Securities of any series
are represented by one or more Global Securities, beneficial interests in such Securities shall be selected for redemption by the Depositary
therefor in accordance with the Applicable Procedures.

 

    39

     

    

 

If any Security selected for
partial redemption is converted in part before termination of the conversion right with respect to the portion of the Security so selected,
the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities which
have been converted during a selection of securities to be redeemed shall be treated by the Trustee as Outstanding for the purpose of
such selection.

 

The Trustee shall promptly
notify the Company in writing of the Securities selected for redemption as aforesaid and, in case of any Securities selected for partial
redemption as aforesaid, the principal amount thereof to be redeemed.

 

The provisions of the three
preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether such Security is to be redeemed
in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall
be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security.

 

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

 

Section 1104     Notice
of Redemption. Notice of redemption shall be transmitted not less than 15 nor more than 60 days prior to the Redemption Date (or within
such period as otherwise specified as contemplated by Section 301 for Securities of a series), to each Holder of
Securities to be redeemed, at such Holder’s address appearing in the Security Register.

 

All notices of redemption
shall identify the Securities to be redeemed and shall state:

 

		(1)	the Redemption Date;

 

		(2)	the Redemption Price (or the method of calculating such price);

 

		(3)	if less than all the Outstanding Securities of any series consisting of more than a single Security are
to be redeemed, the identification (and, in the case of partial redemption of any such Securities, the respective principal amounts) of
the particular Securities to be redeemed and, if less than all the Outstanding Securities of any series consisting of a single Security
are to be redeemed, the principal amount of the particular Security to be redeemed;

 

		(4)	that on the Redemption Date the Redemption Price will become due and payable upon each such Security to
be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date;

 

		(5)	the place or places where each such Security is to be surrendered for payment of the Redemption Price;

 

		(6)	for any Securities that by their terms may be converted, the terms of conversion, the date on which the
right to convert the Security to be redeemed will terminate and the place or places where such Securities may be surrendered for conversion;

 

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

 

		(8)	if applicable, the CUSIP, ISIN or any similar numbers of the Securities of such series; provided,
however, that no representation will be made as to the correctness or accuracy of the CUSIP, ISIN or any similar number, if any,
listed in such notice or printed on the Securities.

 

Notice of redemption of Securities
to be redeemed at the election of the Company shall be given by the Company or, at the Company’s request (which may be rescinded
or revoked at any time prior to the time at which the Trustee shall have given such notice to the Holders), by the Trustee in the name
and at the expense of the Company. The notice, if mailed in the manner herein provided, shall be conclusively presumed to have been given,
whether or not the Holder receives such notice. In any case, failure to give such notice by mail or any defect in the notice to the Holder
of any Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of
any other Securities.

 

    40

     

    

 

Section 1105     Deposit
of Redemption Price. By no later than 10:00 a.m. (New York City time) on the Business Day prior to any Redemption Date, the Company
shall deposit or cause to be deposited with the Trustee or with a Paying Agent (or, if the Company is acting as Paying Agent, segregate
and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption
Date shall be an Interest Payment Date or the Securities of the series provide otherwise) accrued interest on, all the Securities which
are to be redeemed on that date, other than Securities or portions of Securities called for redemption which are owned by the Company
or any Subsidiary of the Company and have been delivered by the Company or such Subsidiary to the Trustee for cancellation. All money,
if any, earned on funds held by the Paying Agent shall be remitted to the Company. In addition, the Paying Agent shall promptly return
to the Company any money deposited with the Paying Agent by the Company in excess of the amounts necessary to pay the Redemption Price
of, and accrued interest, if any, on, all Securities to be redeemed.

 

If any Security called for
redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held in an Officers’
Certificate delivered at least five Business Days prior to the requested date of delivery. trust for the redemption of such Security shall
(subject to any right of the Holder of such Security or any Predecessor Security to receive interest as provided in the last paragraph
of Section 307 or in the terms of such Security) be paid to the Company upon Company Request or, if then held by
the Company, shall be discharged from such trust.

 

Section 1106     Securities
Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption
Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default
in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together,
if applicable, with accrued interest to the Redemption Date; provided, however, that, unless otherwise specified as contemplated
by Section 301, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable
to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant
Record Dates according to their terms and the provisions of Section 307.

 

If any Security called for
redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid, bear interest
from the Redemption Date at the rate prescribed therefor in the Security.

 

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

 

ARTICLE XII

SINKING FUNDS

 

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

 

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

 

    41

     

    

 

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

 

Section 1203      Redemption
of Securities for Sinking Fund. Not less than 60 days (or such shorter period as shall be satisfactory to the Trustee) prior to each
sinking fund payment date for any Securities, the Company will deliver to the Trustee an Officer’s Certificate of the Company specifying
the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the portion thereof,
if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting
Securities pursuant to Section 1202 and will also deliver to the Trustee any Securities to be so delivered. Not
less than 30 days prior to each such sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such sinking
fund payment date in the manner specified in Section 1103 and cause notice of the redemption thereof to be given
in the name of and at the expense of the Company in the manner provided in Section 1104. Such notice having been duly
given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 1106 and 1107.

 

ARTICLE XIII

DEFEASANCE AND COVENANT DEFEASANCE

 

Section 1301      Company’s
Option to Effect Defeasance or Covenant Defeasance. Unless otherwise provided as contemplated by Section 301, Section 1302 and 1303 shall
apply to all Securities and each series of Securities, denominated in U.S. dollars and bearing interest at a fixed rate, in accordance
with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth
below in this Article XIII; and the Company may elect, at its option at any time, to have Section 1302 and Section 1303 applied
to any Securities or any series of Securities, designated pursuant to Section 301 as being defeasible pursuant to
such Section 1302 or Section 1303, in accordance with any applicable requirements provided pursuant
to Section 301 and upon compliance with the conditions set forth below in this Article XIII. Any
such election shall be evidenced by a Company Resolution, Officer’s Certificate of the Company or in another manner specified as
contemplated by Section 301 for such Securities.

 

Section 1302      Defeasance
and Discharge. Upon the Company’s exercise of its option, if any, to have this Section 1302 applied to
any Securities or any series of Securities, or if this Section 1302 shall otherwise apply to any Securities or any
series of Securities, the Company shall be deemed to have been discharged from its obligations with respect to such Securities as provided
in this Section 1302 on and after the date the conditions set forth in Section 1304 are satisfied
(“Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged
the entire indebtedness represented by such Securities and to have satisfied all its other obligations under such Securities and this
Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging
the same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders
of such Securities to receive, solely from the trust fund described in Section 1304 and as more fully set forth in such Section 1305,
payments in respect of the principal of and premium, if any, and interest on such Securities when payments are due, (2) the Company’s
obligations with respect to such Securities under Sections 304, 305, 306, 1002 and 1003,
(3) the rights, powers, trusts, duties, indemnities and immunities of the Trustee hereunder and (4) this Article XIII.
Subject to compliance with this Article XIII, the Company may exercise its option, if any, to have this Section 1302 applied
to the Securities of any series notwithstanding the prior exercise of its option, if any, to have Section 1303 applied
to such Securities.

 

    42

     

    

 

Section 1303      Covenant
Defeasance. Upon the Company’s exercise of its option, if any, to have this Section 1303 applied to any
Securities or any series of Securities, or if this Section 1303 shall otherwise apply to any Securities or any series
of Securities, (1) the Company shall be released from its obligations under Section 801 and any covenants provided
pursuant to Section 301(18), Section 901(1) or Section 901(11) for the benefit
of the Holders of such Securities and (2) the occurrence of any event specified in Section 501(4) and Section 501(7) shall
be deemed not to be or result in an Event of Default, in each case with respect to such Securities as provided in this Section 1303 on
and after the date the conditions set forth in Section 1304 are satisfied (“Covenant Defeasance”).
For this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may omit to comply with and shall
have no liability in respect of any term, condition or limitation set forth in any such specified Section, whether directly or indirectly
by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other
provision herein or in any other document, but the remainder of this Indenture and such Securities shall be unaffected thereby.

 

Section 1304      Conditions
to Defeasance or Covenant Defeasance. The following shall be the conditions to the application of Section 1302 or 1303 to
any Securities or any series of Securities:

 

		(1)	The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee
which satisfies the requirements contemplated by Section 609 and agrees to comply with the provisions of this Article XIII applicable
to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely
to, the benefits of the Holders of such Securities, (A) money in an amount, or (B) U.S. Government Obligations which through
the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide money in an amount, or
(C) a combination thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee
(or any such other qualifying trustee) to pay and discharge, the principal of and premium, if any, and interest on such Securities to
the respective Stated Maturities or Redemption Dates, in accordance with the terms of this Indenture and such Securities.

 

		(2)	In the event of an election to have Section 1302 apply to any Securities or any
series of Securities, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (A) the Company has received
from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date of this Indenture, there has been
a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon
such opinion shall confirm that, the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result
of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the
same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance and discharge were not to occur.

 

		(3)	In the event of an election to have Section 1303 apply to any Securities or any
series of Securities, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities
will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected with
respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would
be the case if such deposit and Covenant Defeasance were not to occur.

 

		(4)	The Company shall have delivered to the Trustee an Officer’s Certificate of the Company to the effect
that neither such Securities nor any other Securities of the same series, if then listed on any securities exchange, will be delisted
as a result of such deposit.

 

		(5)	No Default or Event of Default with respect to such Securities or any other Securities shall have occurred
and be continuing at the time of such deposit or, insofar as Section 501(5) or Section 501(6) are
concerned, at any time on or prior to the 90th day after the date of such deposit (it being understood that this condition shall not be
deemed satisfied until after such 90th day).

 

    43

     

    

 

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

 

		(7)	The Company shall have delivered to the Trustee an Officer’s Certificate of the Company and an Opinion
of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with
(in each case, subject to the satisfaction of the condition in clause (5)).

 

Before or after a deposit,
the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date in accordance with Article XI.

 

Section 1305      Deposited
Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions. Subject to the provisions of the last paragraph
of Section 1003, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee
or other qualifying trustee (solely for purposes of this Section 1305 and Section 1306, the Trustee
and any such other trustee are referred to collectively as the “Trustee”) pursuant to Section 1304 in
respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and
this Indenture, to the payment, either directly or through any such Paying Agent (including the Company acting as Paying Agent) as the
Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and premium,
if any, and interest, but money so held in trust need not be segregated from other funds except to the extent required by law. Funds held
pursuant to this Section 1305 with respect to any series of Securities shall not be subject to the claims of the
holders of Senior Indebtedness with respect to such series, provided, that at the time of the deposit of such funds with the Trustee under
this Article XIII, no event had occurred that would, under the subordination provisions related to such series, require
that any payment to be made to the holders of such Securities be paid or paid over to the holders of such Senior Indebtedness.

 

The Company shall pay and
indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant
to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law
is for the account of the Holders of Outstanding Securities; provided that the Trustee shall be entitled to charge any
such tax, fee or other charge to such Holder’s account.

 

Anything in this Article XIII to
the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or U.S.
Government Obligations held by it as provided in Section 1304 with respect to any Securities which are in excess
of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant Defeasance, as the case may be,
with respect to such Securities.

 

Section 1306      Reinstatement.
If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article XIII with respect
to any Securities by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, then the obligations under this Indenture and such Securities from which the Company has been discharged or released
pursuant to Section 1302 or 1303 shall be revived and reinstated as though no deposit had occurred
pursuant to this Article XIII with respect to such Securities, until such time as the Trustee or Paying Agent is
permitted to apply all money held in trust pursuant to Section 1305 with respect to such Securities in accordance
with this Article XIII; provided, however, that (a) if the Company makes any payment of principal
of or premium, if any, or interest on any such Security following such reinstatement of its obligations, the Company shall be subrogated
to the rights, if any, of the Holders of such Securities to receive such payment from the money so held in trust and (b) unless otherwise
required by any legal proceeding or any order or judgment of any court or governmental authority, the Trustee or Paying Agent shall return
all such money and U.S. Government Obligations to the Company promptly after receiving a written request therefor at any time, if such
reinstatement of the Company’s obligations has occurred and continues to be in effect.

 

    44

     

    

 

ARTICLE XIV

SUBORDINATION OF SECURITIES

 

Section 1401      Subordination
Terms. The Company covenants and agrees that the indebtedness evidenced by each series of Securities is subordinate and junior in
right of payment to all Senior Indebtedness to the extent provided in this Article XIV or as further provided in
an indenture supplemental hereto or a Board Resolution with respect to a series of Securities adopted pursuant to Section 301 hereof,
and each holder of Securities of each series, by its acceptance thereof, likewise covenants and agrees to such subordination and shall
be bound by the provisions thereof. Senior Indebtedness shall continue to be Senior Indebtedness and entitled to the benefits of these
subordination provisions irrespective of any amendment, modification or waiver of any term of the Senior Indebtedness or extension or
renewal of the Senior Indebtedness.

 

In the event that the Company
shall default in the payment of any principal of (or premium, if any) or interest on any Senior Indebtedness when the same becomes due
and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise, then, upon written notice of such default
to the Company by the holders of Senior Indebtedness or any trustee or representative thereof, unless and until such default shall have
been cured or waived or shall have ceased to exist, no direct or indirect payment (in cash, property, securities, by set-off or otherwise)
shall be made or agreed to be made on account of the principal of or interest on any of the Securities, or in respect of any redemption,
retirement, purchase or other acquisition of any of the Securities.

 

In the event of:

 

		(1)	any insolvency, bankruptcy, receivership, liquidation, reorganization, readjustment, composition or other
similar proceeding relating to the Company, its creditors or its property,

 

		(2)	any proceeding for the liquidation, dissolution or other winding up of the Company, voluntary or involuntary,
whether or not involving insolvency or bankruptcy proceedings,

 

		(3)	any assignment by the Company for the benefit of creditors, or

 

		(4)	any other marshalling of the assets of the Company,

 

all Senior Indebtedness shall first be paid in
full before any payment or distribution, whether in cash, securities or other property, shall be made to any holder of any of the Securities
on account thereof. Any payment or distribution, whether in cash, securities or other property (other than securities of the Company or
any other corporation provided for by a plan of reorganization or readjustment the payment of which is subordinate, at least to the extent
provided in the subordination provisions applicable to a series of the Securities, to the payment of all Senior Indebtedness at the time
outstanding and to any securities issued in respect thereof under any such plan of reorganization or readjustment), which would otherwise
(but for the applicable subordination provisions) be payable or deliverable in respect of the Securities of any series shall be paid or
delivered directly to the holders of Senior Indebtedness in accordance with the priorities then existing among such holders until all
Senior Indebtedness shall have been paid in full.

 

In the event that, notwithstanding
the foregoing, any payment or distribution of any character or any security, whether in cash, securities or other property (other than
securities of the Company or any other corporation provided for by a plan of reorganization or readjustment the payment of which is subordinate,
at least to the extent provided in the subordination provisions applicable to a series of the Securities, to the payment of all Senior
Indebtedness at the time outstanding and to any securities issued in respect thereof under any such plan of reorganization or readjustment),
shall be received by the Trustee or any holder in contravention of any of the terms hereof, such payment or distribution or security shall
be received in trust for the benefit of, and shall be paid over or delivered and transferred to, the holders of the Senior Indebtedness
at the time outstanding in accordance with the priorities then existing among such holders for application to the payment of all Senior
Indebtedness remaining unpaid, to the extent necessary to pay all such Senior Indebtedness in full. In the event of the failure of the
Trustee or any holder to endorse or assign any such payment, distribution or security, each holder of Senior Indebtedness is hereby irrevocably
authorized to endorse or assign the same.

 

    45

     

    

 

No present or future holder
of any Senior Indebtedness shall be prejudiced in the right to enforce subordination of the indebtedness evidenced by the Securities by
any act or failure to act on the part of the Company. Nothing contained herein shall impair, as between the Company and the holders of
Securities of each series, the obligation of the Company to pay to such holders the principal of (and premium, if any) and interest on
such Securities or prevent the Trustee or the holder from exercising all rights, powers and remedies otherwise permitted by applicable
law or hereunder upon an Event of Default hereunder, all subject to the rights of the holders of the Senior Indebtedness to receive cash,
securities or other property otherwise payable or deliverable to the holders.

 

Senior Indebtedness shall
not be deemed to have been paid in full unless the holders thereof shall have received cash, securities or other property equal to the
amount of such Senior Indebtedness then outstanding. Upon the payment in full of all Senior Indebtedness, the holders of Securities of
each series shall be subrogated to all rights of any holders of Senior Indebtedness to receive any further payments or distributions applicable
to the Senior Indebtedness until the indebtedness evidenced by the Securities of such series shall have been paid in full, and such payments
or distributions received by such holders, by reason of such subrogation, of cash, securities or other property which otherwise would
be paid or distributed to the holders of Senior Indebtedness, shall, as between the Company and its creditors other than the holders of
Senior Indebtedness, on the one hand, and such holders, on the other hand, be deemed to be a payment by the Company on account of Senior
Indebtedness, and not on account of the Securities of such series.

 

Section 1402     Trustee
and Holders May Rely on Certificate of Liquidating Agent; Trustee May Require Further Evidence as to Ownership of Senior Indebtedness.
Upon any payment or distribution of assets of the Company referred to in this Article XIV or other subordination provisions
applicable to a series of the Securities, the Trustee and the holders shall be entitled to conclusively rely on an order or decree made
by any court of competent jurisdiction in which dissolution or winding up or liquidation or reorganization or arrangement pleadings are
pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors or other Person making such
payment or distribution, delivered to the Trustee or to the holders, for the purpose of ascertaining the Persons entitled to participate
in such distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon,
the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article XIV or
other subordination provisions applicable to a series of the Securities. In the absence of any such bankruptcy trustee, receiver, assignee
or other Person, the Trustee shall be entitled to conclusively rely upon a written notice by a Person representing himself to be a holder
of Senior Indebtedness (or a trustee or representative on behalf of such holder) as evidence that such Person is a holder of Senior Indebtedness
(or is such a trustee or representative). In the event that the Trustee determines, in good faith, that further evidence is required with
respect to the right of any Person as a holder of Senior Indebtedness to participate in any payments or distributions pursuant to this Article XIV or
other subordination provisions applicable to a series of the Securities, the Trustee may request such Person to furnish evidence to the
reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, as to the extent to which such Person
is entitled to participate in such payment or distribution, and as to other facts pertinent to the rights of such Person, and if such
evidence is not furnished, the Trustee may refuse to offer any payment to such Person pending judicial determination as to the right of
such Person to receive such payment.

 

Section 1403      Payment
Permitted if No Default. Nothing contained in this Article XIV or other subordination provisions applicable
to a series of the Securities shall prevent (a) the Company, at any time except during the pendency of any dissolution, winding up,
liquidation or reorganization proceedings referred to in, or under the conditions described in, Section 1401 (or
comparable conditions contained in other subordination provisions applicable to a series of the Securities), from making payments at any
time of the principal of or interest on the Securities or (b) the application by the Trustee or any paying agent of any monies deposited
with it hereunder to payments of the principal of or interest on a series of the Securities if, at the time of such deposit, the Trustee
or such paying agent, as the case may be, did not have the written notice provided for in Section 1404 (or in a
comparable notice provision contained in other subordination provisions applicable to a series of the Securities) of any event prohibiting
the making of such deposit, or if, at the time of such deposit (whether or not in trust) by the Company with the Trustee or any paying
agent (other than the Company) such payment would not have been prohibited by the provisions of the subordination provisions applicable
to such series of Securities, and the Trustee or any paying agent shall not be affected by any notice to the contrary received by it on
or after such date.

 

    46

     

    

 

Section 1404     Trustee
Not Charged with Knowledge of Prohibition. Nothing contained in this Article XIV or other subordination provisions
applicable to a series of the Securities to the contrary notwithstanding, the Trustee shall not at any time be charged with knowledge
of the existence of any facts which would prohibit the making of any payment of monies hereunder to or by the Trustee and shall be entitled
conclusively to assume that no such facts exist and that no event specified in Section 1401 (or comparable event
contained in other subordination provisions applicable to a series of the Securities) has happened, until the Trustee shall have received
an Officer’s Certificate to that effect or notice in writing to that effect signed by or on behalf of the holder or holders, or
their representatives, of Senior Indebtedness who shall have been certified by the Company or otherwise established to the reasonable
satisfaction of the Trustee to be such holder or holders or representatives or from any trustee under any indenture pursuant to which
such Senior Indebtedness shall be outstanding; provided that, if prior to the third Business Day preceding the date upon
which by the terms hereof any monies become payable hereunder (including, without limitation, the payment of either the principal of or
interest on any Security), or in the event of the execution of an instrument pursuant to Section 1304 then if prior
to the second Business Day preceding the date of such execution, the Trustee or any paying agent shall not have received with respect
to such monies the Officers’ Certificate or notice provided for in this Section 1404, then, anything herein contained
to the contrary notwithstanding, the Trustee or such paying agent shall have full power and authority to receive such monies and apply
the same to the purpose for which they were received by it on or after such date. The Company shall give prompt written notice to the
Trustee and to the paying agent of any facts known to the Company which would prohibit the payment of monies to or by the Trustee or any
paying agent.

 

Section 1405     Trustee
to Effect Subordination. Each holder of Securities by its acceptance thereof authorizes and directs the Trustee in his behalf to take
such action as may be necessary or appropriate to effectuate the subordination as between such holder and holders of Senior Indebtedness,
as provided in this Article XIV (or other subordination provisions applicable to a series of the Securities), and
appoints the Trustee its attorney-in-fact for and all such purposes.

 

Section 1406      Rights
of Trustee as Holder of Senior Indebtedness. The Trustee shall be entitled to all the rights set forth in this Article (or other
subordination provisions applicable to a series of the Securities) with respect to any Senior Indebtedness which may at the time be held
by it, to the same extent as any other holder of Senior Indebtedness, provided that nothing in this Indenture shall deprive
the Trustee of any of the rights as such holder and provided further that nothing in this Article or other subordination provisions
applicable to a series of the Securities shall apply to claims of, or payments to, the Trustee under or pursuant to Section 607.

 

Section 1407      Provisions
Applicable to Paying Agents. In case at any time any paying agent other than the Trustee shall have been appointed by the Company
and be then acting hereunder, the term “Trustee” as used in this Article (or other subordination provisions applicable
to a series of the Securities) shall in such case (unless the context shall otherwise require) be construed as extending to and including
such paying agent within its meaning as fully for all intents and purposes as if the paying agent were named in this Article or other
applicable subordination provisions in addition to or in place of the Trustee; provided, however, that Section 1404 shall
not apply to the Company or any affiliate of the Company if the Company or such affiliate acts as paying agent.

 

Section 1408      Trustee
Not Fiduciary for Holders of Senior Indebtedness. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior
Indebtedness and shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders
of Securities or to the Company or to any other person cash, property or securities to which any holders of Senior Indebtedness shall
be entitled by virtue of this Article XIV or otherwise. With respect to the holders of Senior Indebtedness, the
Trustee undertakes to perform or to observe only such of its covenants or obligations as are specifically set forth in this Article and
no implied covenants or obligations with respect to holders of Senior Indebtedness shall be read into this Indenture against the Trustee.

 

    47

     

    

 

ARTICLE XV

MISCELLANEOUS

 

Section 1501      Counterparts.
This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. The exchange of
copies of this Indenture and of signature pages by facsimile, PDF or other electronic transmission shall constitute effective execution
and delivery of this Indenture as to the parties hereto and will be of the same effect, validity and as enforceability as manually executed
signatures or a paper-based recordkeeping system, as the case may be, to the extent and as provided for under applicable law, including
the Electronic Signatures in Global and National Commerce Act of 2000 (15 U.S.C. §§ 7001-7006), the Electronic Signatures and
Records Act of 1999 (N.Y. State Tech. §§ 301-309), or any other similar state laws based on the Uniform Electronic Transactions
Act; provided that, notwithstanding anything herein to the contrary, the Trustee is not under any obligation to agree to accept electronic
signatures in any form or in any format unless expressly agreed to by such Trustee pursuant to procedures approved by such Trustee.

 

[Signature page follows]

 

    48

     

    

 

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

 

	 	LUMENT FINANCE TRUST, INC.,

as Issuer
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Trustee
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature Page to the Indenture]

 

    49

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00331-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00331-of-00352.parquet"}]]