Document:

Exhibit 4.4

 

WARRANT
AGREEMENT

 

CSR
ACQUISITION CORP.

and

CONTINENTAL STOCK TRANSFER & TRUST COMPANY

 

Dated
August [●], 2020

 

THIS
WARRANT AGREEMENT (this “Agreement”), dated August [●], 2020, is by and between CSR Acquisition
Corp., a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer & Trust
Company, a New York corporation, as warrant agent (in such capacity, the “Warrant Agent”).

 

WHEREAS,
it is proposed that the Company enter into that certain Sponsor Warrants Purchase Agreement, with CSR Sponsor LLC, a Cayman Islands
limited liability company (the “Sponsor”), pursuant to which the Sponsor will purchase an aggregate
of 5,333,333 warrants (or up to 5,933,333 warrants if the underwriters in the Offering (defined below) exercise their Over-allotment
Option (as defined below) in full) simultaneously with the closing of the Offering (and the closing of the Over-allotment Option,
if applicable), bearing the legend set forth in Exhibit B hereto (the “Private Placement Warrants”)
at a purchase price of $1.50 per Private Placement Warrant. Each Private Placement Warrant entitles the holder thereof to purchase
one Ordinary Share (as defined below) at a price of $11.50 per share, subject to adjustment as described herein; and

 

WHEREAS,
in order to finance the Company’s transaction costs in connection with an intended initial merger, share exchange, asset
acquisition, share purchase, reorganization or similar business combination, involving the Company and one or more businesses
(a “Business Combination”), the Sponsor or an affiliate of the Sponsor or certain of the Company’s
officers and directors may, but are not obligated to, loan the Company funds as the Company may require, of which up to $1,500,000
of such loans may be convertible into up to an additional 1,500,000 Private Placement Warrants at a price of $1.50 per Private
Placement Warrant; and

 

WHEREAS,
the Company is engaged in an initial public offering (the “Offering”) of units of the Company’s
equity securities, each such unit comprised of one Ordinary Share and one-third of one Public Warrant (as defined below) (the
“Units”) and, in connection therewith, has determined to issue and deliver up to 10,000,000 redeemable
warrants (including up to 11,500,000 redeemable warrants subject to the Over-allotment Option) to public investors in the Offering
(the “Public Warrants” and, together with the Private Placement Warrants, the “Warrants”).
Each whole Warrant entitles the holder thereof to purchase one Class A ordinary share of the Company, par value $0.0001 per share
(“Ordinary Shares”), for $11.50 per share, subject to adjustment as described herein. Only whole Warrants
are exercisable. A holder of the Public Warrants will not be able to exercise any fraction of a Warrant; and

 

    	 	 	 

     

    

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “Commission”) registration statements
on Form S-1, No. 333-240277 and a prospectus (the “Prospectus”), for the registration, under the Securities
Act of 1933, as amended (the “Securities Act”), of the Units, the Public Warrants and the Ordinary Shares
included in the Units; and

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection
with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

 

WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised,
and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent and the holders of the Warrants;
and

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company
and countersigned by or on behalf of the Warrant Agent (if a physical certificate is issued), as provided herein, the valid, binding
and legal obligations of the Company, and to authorize the execution and delivery of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the
Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth
in this Agreement.

 

2. Warrants.

 

2.1 Form
of Warrant. Each Warrant shall initially be issued in registered form only.

 

2.2 Effect
of Countersignature. If a physical certificate is issued, unless and until countersigned by the Warrant Agent pursuant to
this Agreement, a certificated Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.3 Registration.

 

2.3.1 Warrant
Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration
of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants in book-entry
form, the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations
and otherwise in accordance with instructions delivered to the Warrant Agent by the Company. Ownership of beneficial interests
in the Public Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by
institutions that have accounts with The Depository Trust Company (the “Depositary”) (such institution,
with respect to a Warrant in its account, a “Participant”).

 

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If
the Depositary subsequently ceases to make its book-entry settlement system available for the Public Warrants, the Company may
instruct the Warrant Agent regarding making other arrangements for book-entry settlement. In the event that the Public Warrants
are not eligible for, or it is no longer necessary to have the Public Warrants available in, book-entry form, the Warrant Agent
shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each book-entry Public Warrant,
and the Company shall instruct the Warrant Agent to deliver to the Depositary definitive certificates in physical form evidencing
such Warrants (“Definitive Warrant Certificates”) which shall be in the form annexed hereto as Exhibit
A.

 

Physical
certificates, if issued, shall be signed by, or bear the facsimile signature of, the Chairman of the Board, Chief Executive Officer,
President, Chief Financial Officer, Chief Operating Officer, General Counsel, Secretary or other principal officer of the Company.
In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity
in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had
not ceased to be such at the date of issuance.

 

2.3.2 Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and
treat the person in whose name such Warrant is registered in the Warrant Register (the “Registered Holder”)
as the absolute owner of such Warrant and of each Warrant represented thereby, for the purpose of any exercise thereof, and for
all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.4 Detachability
of Warrants. The Ordinary Shares and Public Warrants comprising the Units shall begin separate trading on the 52nd day following
the date of the Prospectus or, if such 52nd day is not on a day, other than a Saturday, Sunday or federal holiday, on which banks
in New York City are generally open for normal business (a “Business Day”), then on the immediately
succeeding Business Day following such date, or earlier (the “Detachment Date”) with the consent of
Credit Suisse Securities (USA) LLC, but in no event shall the Ordinary Shares and the Public Warrants comprising the Units be
separately traded until (A) the Company has filed a Current Report on Form 8-K with the Commission containing an audited balance
sheet reflecting the receipt by the Company of the gross proceeds of the Offering, including the proceeds then received by the
Company from the exercise by the underwriters of their right to purchase additional Units in the Offering (the “Over-allotment
Option”), if the Over-allotment Option is exercised prior to the filing of the Current Report on Form 8-K, and (B)
the Company issues a press release announcing when such separate trading shall begin.

 

2.5 Fractional
Warrants. The Company shall not issue fractional Warrants other than as part of the Units, each of which is comprised of one
Ordinary Share and one-third of one whole Public Warrant. If, upon the detachment of Public Warrants from the Units or otherwise,
a holder of Warrants would be entitled to receive a fractional Warrant, the Company shall round down to the nearest whole number
the number of Warrants to be issued to such holder.

 

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2.6 Private
Placement Warrants. The Private Placement Warrants shall be identical to the Public Warrants, except that so long as they
are held by the Sponsor or any of its Permitted Transferees (as defined below) the Private Placement Warrants: (i) may be exercised
for cash or on a “cashless basis,” pursuant to subsection 3.3.1(c) hereof, (ii) including the Ordinary Shares
issuable upon exercise of the Private Placement Warrants, may not be transferred, assigned or sold until thirty (30) days after
the completion by the Company of an initial Business Combination, (iii) shall not be redeemable by the Company pursuant to Section
6.1 hereof and (iv) shall only be redeemable by the Company pursuant to Section 6.2 if the Reference Value (as
defined below) is less than $18.00 per share (subject to adjustment in compliance with Section 4 hereof); provided, however,
that in the case of (ii), the Private Placement Warrants and any Ordinary Shares issued upon exercise of the Private Placement
Warrants may be transferred by the holders thereof:

 

(a) to
the Company’s directors or officers, any affiliates or family members of the Company’s directors or officers, any
members of the Sponsor or any affiliates of the Sponsor;

 

(b) in
the case of an individual, by gift to a member of the individual’s immediate family, or to a trust, the beneficiary of which
is a member of the individual’s immediate family or an affiliate of such person, or to a charitable organization;

 

(c) in
the case of an individual, by virtue of laws of descent and distribution upon death of the individual;

 

(d) in
the case of an individual, pursuant to a qualified domestic relations order;

 

(e) in
the case of a trust, by distribution to one or more of the permissible beneficiaries of such trust;

 

(f) by
private sales or transfers made in connection with the consummation of the Company’s Business Combination at prices no greater
than the price at which the securities were originally purchased;

 

(g) in
the event of the Company’s liquidation prior to the Company’s completion of its initial Business Combination;

 

(h) by
virtue of the laws of the Cayman Islands or the Sponsor’s organizational documents, upon dissolution of the Sponsor; and

 

(i) in
the event of the Company’s completion of a liquidation, merger, share exchange, reorganization or other similar transaction
which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities
or other property subsequent to the completion of the Company’s initial Business Combination; provided, however,
that, in the case of clauses (a) through (f), these permitted transferees (the “Permitted Transferees”)
must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in this Agreement.

 

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3. Terms
and Exercise of Warrants.

 

3.1 Warrant
Price. Each whole Warrant shall entitle the Registered Holder thereof, subject to the provisions of such Warrant and of this
Agreement, to purchase from the Company the number of Ordinary Shares stated therein, at the price of $11.50 per share, subject
to the adjustments provided in Section 4 hereof and in the last sentence of this Section 3.1. The term “Warrant
Price” as used in this Agreement shall mean the price per share (including in cash or by payment of Warrants pursuant
to a “cashless exercise,” to the extent permitted hereunder) described in the prior sentence at which Ordinary Shares
may be purchased at the time a Warrant is exercised. The Company in its sole discretion may lower the Warrant Price at any time
prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days (unless otherwise required
by the Commission, any national securities exchange on which the Warrants are listed or applicable law); provided that
the Company shall provide at least twenty (20) days prior written notice of such reduction to Registered Holders of the Warrants
and, provided further that any such reduction shall be identical among all of the Warrants.

 

3.2 Duration
of Warrants. A Warrant may be exercised only during the period (the “Exercise Period”) (A) commencing
on the later of: (i) the date that is thirty (30) days after the first date on which the Company completes a Business Combination,
and (ii) the date that is twelve (12) months from the date of the closing of the Offering, and (B) terminating at the earliest
to occur of (x) 5:00 p.m., New York City time on the date that is five (5) years after the date on which the Company completes
its initial Business Combination, (y) the liquidation of the Company in accordance with the Company’s amended and restated
memorandum and articles of association, as amended from time to time, if the Company fails to complete a Business Combination,
and (z) other than with respect to the Private Placement Warrants then held by the Sponsor or its Permitted Transferees with respect
to a redemption pursuant to Section 6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share (subject to
adjustment in compliance with Section 4 hereof), Section 6.2 hereof, 5:00 p.m., New York City time on the Redemption
Date (as defined below) as provided in Section 6.4 hereof (the “Expiration Date”); provided,
however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth
in subsection 3.3.2 below, with respect to an effective registration statement or a valid exemption therefrom being available.
Except with respect to the right to receive the Redemption Price (as defined below) (other than with respect to a Private Placement
Warrant then held by the Sponsor or its Permitted Transferees in connection with a redemption pursuant to Section 6.1 hereof
or, if the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section 4 hereof),
Section 6.2 hereof) in the event of a redemption (as set forth in Section 6 hereof), each Warrant (other than a
Private Placement Warrant then held by the Sponsor or its Permitted Transferees in the event of a redemption pursuant to Section
6.1 hereof or, if the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section
4 hereof), Section 6.2 hereof) not exercised on or before the Expiration Date shall become void, and all rights thereunder
and all rights in respect thereof under this Agreement shall cease at 5:00 p.m. New York City time on the Expiration Date. The
Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided that the
Company shall provide at least twenty (20) days prior written notice of any such extension to Registered Holders of the Warrants
and, provided further that any such extension shall be identical in duration among all the Warrants.

 

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3.3 Exercise
of Warrants.

 

3.3.1 Payment.
Subject to the provisions of the Warrant and this Agreement, a Warrant may be exercised by the Registered Holder thereof by delivering
to the Warrant Agent at its corporate trust department (i) the Definitive Warrant Certificate evidencing the Warrants to
be exercised, or, in the case of a Warrant represented by a book-entry, the Warrants to be exercised (the “Book-Entry
Warrants”) on the records of the Depositary to an account of the Warrant Agent at the Depositary designated
for such purposes in writing by the Warrant Agent to the Depositary from time to time, (ii) an election to purchase (“Election
to Purchase”) any Ordinary Shares pursuant to the exercise of a Warrant, properly completed and executed by the
Registered Holder on the reverse of the Definitive Warrant Certificate or, in the case of a Book-Entry Warrant, properly delivered
by the Participant in accordance with the Depositary’s procedures, and (iii) the payment in full of the Warrant Price for
each Ordinary Share as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise
of the Warrant, the exchange of the Warrant for the Ordinary Shares and the issuance of such Ordinary Shares, as follows:

 

(a) in
lawful money of the United States, in good certified check or good bank draft payable to the order of the Warrant Agent;

 

(b) with
respect to any Private Placement Warrant, so long as such Private Placement Warrant is held by the Sponsor or a Permitted Transferee,
by surrendering the Warrants for that number of Ordinary Shares equal to (i) if in connection with a redemption of Private
Placement Warrants pursuant to Section 6.2 hereof, as provided in Section 6.2 hereof with respect to a Make-Whole
Exercise (as defined below) and (ii) in all other scenarios the quotient obtained by dividing (x) the product of the number
of Ordinary Shares underlying the Warrants, multiplied by the excess of the “Sponsor Exercise Fair Market Value” (as
defined in this subsection 3.3.1(c)) less the Warrant Price by (y) the Sponsor Exercise Fair Market Value. Solely for purposes
of this subsection 3.3.1(c), the “Sponsor Fair Market Value” shall mean the average last reported sale price
of the Ordinary Shares for the ten (10) trading days ending on the third (3rd) trading day prior to the date on which
notice of exercise of the Private Placement Warrant is sent to the Warrant Agent;

 

(c) as
provided in Section 6.2 hereof with respect to a Make-Whole Exercise; or

 

(d) as
provided in Section 7.4 hereof.

 

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3.3.2 Issuance
of Ordinary Shares on Exercise. As soon as practicable after the exercise of any Warrant and the clearance of the funds in
payment of the Warrant Price (if payment is pursuant to subsection 3.3.1(a)), the Company shall issue to the Registered
Holder of such Warrant a book-entry position or certificate, as applicable, for the number of Ordinary Shares to which he, she
or it is entitled, registered in such name or names as may be directed by him, her or it on the register of members of the Company,
and if such Warrant shall not have been exercised in full, a new book-entry position or countersigned Warrant, as applicable,
for the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, the Company shall
not be obligated to deliver any Ordinary Shares pursuant to the exercise of a Warrant and shall have no obligation to settle such
Warrant exercise unless a registration statement under the Securities Act with respect to the Ordinary Shares underlying the Public
Warrants is then effective and a prospectus relating thereto is current, subject to the Company’s satisfying its obligations
under Section 7.4 or a valid exemption from registration is available. No Warrant shall be exercisable and the Company
shall not be obligated to issue Ordinary Shares upon exercise of a Warrant unless the Ordinary Shares issuable upon such Warrant
exercise have been registered, qualified or deemed to be exempt from registration or qualification under the securities laws of
the state of residence of the Registered Holder of the Warrants. Subject to Section 4.6 of this Agreement, a Registered
Holder of Warrants may exercise its Warrants only for a whole number of Ordinary Shares. The Company may require holders of Public
Warrants to settle the Warrant on a “cashless basis” pursuant to Section 7.4. If, by reason of any exercise
of Warrants on a “cashless basis”, the holder of any Warrant would be entitled, upon the exercise of such Warrant,
to receive a fractional interest in an Ordinary Share, the Company shall round down to the nearest whole number, the number of
Ordinary Shares to be issued to such holder.

 

3.3.3 Valid
Issuance. All Ordinary Shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly
issued, fully paid and nonassessable.

 

3.3.4 Date
of Issuance. Each person in whose name any book-entry position or certificate, as applicable, for Ordinary Shares is issued
and who is registered in the register of members of the Company shall for all purposes be deemed to have become the holder of
record of such Ordinary Shares on the date on which the Warrant, or book-entry position representing such Warrant, was surrendered
and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate in the case of a certificated
Warrant, except that, if the date of such surrender and payment is a date when the register of members of the Company or book-entry
system of the Warrant Agent are closed, such person shall be deemed to have become the holder of such shares at the close of business
on the next succeeding date on which the share transfer books or book-entry system are open.

 

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3.3.5 Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions
contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5
unless he, she or it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise
of the holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving
effect to such exercise, such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge,
would beneficially own in excess of 9.8% (the “Maximum Percentage”) of the Ordinary Shares outstanding
immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of Ordinary Shares
beneficially owned by such person and its affiliates shall include the number of Ordinary Shares issuable upon exercise of the
Warrant with respect to which the determination of such sentence is being made, but shall exclude Ordinary Shares that would be
issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates
and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned
by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred shares or warrants)
subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding
sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the
number of outstanding Ordinary Shares, the holder may rely on the number of outstanding Ordinary Shares as reflected in (1) the
Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public
filing with the Commission as the case may be, (2) a more recent public announcement by the Company or (3) any other notice by
the Company or Continental Stock Transfer & Trust Company, as transfer agent (in such capacity, the “Transfer
Agent”), setting forth the number of Ordinary Shares outstanding. For any reason at any time, upon the written request
of the holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally and in writing to such holder the
number of Ordinary Shares then outstanding. In any case, the number of issued and outstanding Ordinary Shares shall be determined
after giving effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the
date as of which such number of issued and outstanding Ordinary Shares was reported. By written notice to the Company, the holder
of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage
specified in such notice; provided, however, that any such increase shall not be effective until the sixty-first
(61st) day after such notice is delivered to the Company.

 

4. Adjustments.

 

4.1 Share
Capitalizations.

 

4.1.1 Sub-Divisions.
If after the date hereof, and subject to the provisions of Section 4.6 below, the number of issued and outstanding Ordinary
Shares is increased by a capitalization or share dividend of Ordinary Shares, or by a sub-division of Ordinary Shares or other
similar event, then, on the effective date of such share capitalization, sub-division or similar event, the number of Ordinary
Shares issuable on exercise of each Warrant shall be increased in proportion to such increase in the issued and outstanding Ordinary
Shares. A rights offering made to all or substantially all holders of Ordinary Shares entitling holders to purchase Ordinary Shares
at a price less than the “Historical Fair Market Value” (as defined below) shall be deemed a capitalization of a number
of Ordinary Shares equal to the product of (i) the number of Ordinary Shares actually sold in such rights offering (or issuable
under any other equity securities sold in such rights offering that are convertible into or exercisable for the Ordinary Shares)
multiplied by (ii) one (1) minus the quotient of (x) the price per Ordinary Share paid in such rights offering divided by (y)
the Historical Fair Market Value. For purposes of this subsection 4.1.1, (i) if the rights offering is for securities convertible
into or exercisable for Ordinary Shares, in determining the price payable for Ordinary Shares, there shall be taken into account
any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Historical
Fair Market Value” means the volume weighted average price of the Ordinary Shares during the ten (10) trading day period
ending on the trading day prior to the first date on which the Ordinary Shares trade on the applicable exchange or in the applicable
market, regular way, without the right to receive such rights. No Ordinary Shares shall be issued at less than their par value.

 

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4.1.2 Extraordinary
Dividends. If the Company, at any time while the Warrants are outstanding and unexpired, pays to all or substantially all
of the holders of the Ordinary Shares a dividend or make a distribution in cash, securities or other assets on account of such
Ordinary Shares (or other shares into which the Warrants are convertible), other than (a) as described in subsection 4.1.1
above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the Ordinary
Shares in connection with a proposed initial Business Combination, (d) to satisfy the redemption rights of the holders of the
Ordinary Shares in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles
of association (i) to modify the substance or timing of the Company’s obligation to allow redemption in connection with
the Company’s initial Business Combination or to redeem 100% of the Company’s public shares if it does not complete
its initial Business Combination within the time period required by the Company’s amended and restated memorandum and articles
of association, as amended from time to time, or (ii) with respect to any other provision relating to shareholders’ rights
or pre-initial Business Combination activity or (e) in connection with the redemption of public shares upon the failure of the
Company to complete its initial Business Combination and any subsequent distribution of its assets upon its liquidation (any such
non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant Price
shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and/or
the fair market value (as determined by the Company’s board of directors (the “Board”), in good
faith) of any securities or other assets paid on each Ordinary Share in respect of such Extraordinary Dividend. For purposes of
this subsection 4.1.2, “Ordinary Cash Dividends” means any cash dividend or cash distribution
which, when combined on a per share basis, with the per share amounts of all other cash dividends and cash distributions paid
on the Ordinary Shares during the 365-day period ending on the date of declaration of such dividend or distribution to the extent
it does not exceed $0.50 (which amount shall be adjusted to appropriately reflect any of the events referred to in other subsections
of this Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price
or to the number of Ordinary Shares issuable on exercise of each Warrant).

 

4.2 Aggregation
of Shares. If after the date hereof, and subject to the provisions of Section 4.6 hereof, the number of issued and
outstanding Ordinary Shares is decreased by a consolidation, combination, reverse share split or reclassification of Ordinary
Shares or other similar event, then, on the effective date of such consolidation, combination, reverse share split, reclassification
or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be decreased in proportion to such
decrease in issued and outstanding Ordinary Shares.

 

4.3 Adjustments
in Exercise Price. Whenever the number of Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as provided
in subsection 4.1.1 or Section 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying
such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of Ordinary
Shares purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall
be the number of Ordinary Shares so purchasable immediately thereafter.

 

4.4 Raising
of the Capital in Connection with the Initial Business Combination. If (x) the Company issues additional Ordinary Shares or
equity-linked securities for capital raising purposes in connection with the closing of its initial Business Combination at an
issue price or effective issue price of less than $9.20 per Ordinary Share (with such issue price or effective issue price to
be determined in good faith by the Board and, in the case of any such issuance to the Sponsor or its affiliates, without taking
into account any Class B Ordinary Shares, par value $0.0001 per share, of the Company held by the Sponsor or such affiliates,
as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds
from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of the
Company’s initial Business Combination on the date of the completion of the Company’s initial Business Combination
(net of redemptions), and (z) the volume-weighted average trading price of Ordinary Shares during the twenty (20) trading day
period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such price,
the “Market Value”) is below $9.20 per share, the Warrant Price shall be adjusted (to the nearest cent)
to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption trigger price
described in Section 6.1 and Section 6.2 shall be adjusted (to the nearest cent) to be equal to 180% of the higher
of the Market Value and the Newly Issued Price and the $10.00 per share redemption trigger price described in Section 6.2
shall be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price.

 

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4.5 Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the issued and outstanding Ordinary
Shares (other than a change under Section 4.1 or Section 4.2 hereof or that solely affects the par value of such
Ordinary Shares), or in the case of any merger or consolidation of the Company with or into another corporation (other than a
merger or consolidation in which the Company is the continuing corporation and that does not result in any reclassification or
reorganization of the issued and outstanding Ordinary Shares), or in the case of any sale or conveyance to another corporation
or entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which
the Company is dissolved, the holders of the Warrants shall thereafter have the right to purchase and receive, upon the basis
and upon the terms and conditions specified in the Warrants and in lieu of the Ordinary Shares of the Company immediately theretofore
purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares, stock or other
equity securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation,
or upon a dissolution following any such sale or transfer, that the holder of the Warrants would have received if such holder
had exercised his, her or its Warrant(s) immediately prior to such event (the “Alternative Issuance”);
provided, however, that (i) if the holders of the Ordinary Shares were entitled to exercise a right of election
as to the kind or amount of securities, cash or other assets receivable upon such merger or consolidation, then the kind and amount
of securities, cash or other assets constituting the Alternative Issuance for which each Warrant shall become exercisable shall
be deemed to be the weighted average of the kind and amount received per share by the holders of the Ordinary Shares in such merger
or consolidation that affirmatively make such election, and (ii) if a tender, exchange or redemption offer shall have been made
to and accepted by the holders of the Ordinary Shares (other than a tender, exchange or redemption offer made by the Company in
connection with redemption rights held by shareholders of the Company as provided for in the Company’s amended and restated
memorandum and articles of association or as a result of the redemption of Ordinary Shares by the Company if a proposed initial
Business Combination is presented to the shareholders of the Company for approval) under circumstances in which, upon completion
of such tender or exchange offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1)
under the Exchange Act) of which such maker is a part, and together with any affiliate or associate of such maker (within the
meaning of Rule 12b-2 under the Exchange Act) and any members of any such group of which any such affiliate or associate is a
part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act) more than 50% of the issued and outstanding Ordinary
Shares, the holder of a Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of cash, securities
or other property to which such holder would actually have been entitled as a shareholder if such Warrant holder had exercised
the Warrant prior to the expiration of such tender or exchange offer, accepted such offer and all of the Ordinary Shares held
by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation
of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in this Section 4; provided
further that if less than 70% of the consideration receivable by the holders of the Ordinary Shares in the applicable event
is payable in the form of shares in the successor entity that is listed for trading on a national securities exchange or is quoted
in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if
the Registered Holder properly exercises the Warrant within thirty (30) days following the public disclosure of the consummation
of such applicable event by the Company pursuant to a Current Report on Form 8-K filed with the Commission, the Warrant Price
shall be reduced by an amount (in dollars) equal to the difference of (i) the Warrant Price in effect prior to such reduction
minus (ii) (A) the Per Share Consideration (as defined below) (but in no event less than zero) minus (B) the Black-Scholes Warrant
Value (as defined below). The “Black-Scholes Warrant Value” means the value of a Warrant immediately
prior to the consummation of the applicable event based on the Black-Scholes Warrant Model for a Capped American Call on Bloomberg
Financial Markets (assuming zero dividends) (“Bloomberg”). For purposes of calculating such amount,
(i) Section 6 of this Agreement shall be taken into account, (ii) the price of each Ordinary Share shall be the volume
weighted average price of the Ordinary Shares during the ten (10) trading day period ending on the trading day prior to the effective
date of the applicable event, (iii) the assumed volatility shall be the 90 day volatility obtained from the HVT function on Bloomberg
determined as of the trading day immediately prior to the day of the announcement of the applicable event and (iv) the assumed
risk-free interest rate shall correspond to the U.S. Treasury rate for a period equal to the remaining term of the Warrant. “Per
Share Consideration” means (i) if the consideration paid to holders of the Ordinary Shares consists exclusively
of cash, the amount of such cash per Ordinary Share, and (ii) in all other cases, the volume weighted average price of the Ordinary
Shares during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event. If
any reclassification or reorganization also results in a change in Ordinary Shares covered by subsection 4.1.1, then such
adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4. The
provisions of this Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations,
sales or other transfers. In no event shall the Warrant Price be reduced to less than the par value per share issuable upon exercise
of such Warrant.

 

    	 	10	 

     

    

 

4.6 Notices
of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from
such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a
Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon
the occurrence of any event specified in Sections 4.1, 4.2, 4.3, 4.4, 4.5 or 4.9, the
Company shall give written notice of the occurrence of such event to each holder of a Warrant, at the last address set forth for
such holder in the Warrant Register, of the record date or the effective date of the event. Failure to give such notice, or any
defect therein, shall not affect the legality or validity of such event.

 

4.7 No
Fractional Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue
fractional shares upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder
of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company
shall, upon such exercise, round down to the nearest whole number the number of Ordinary Shares to be issued to such holder.

 

4.8 Form
of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants
issued after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially
issued pursuant to this Agreement; provided, however, that the Company may at any time in its sole discretion make
any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any
Warrant thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be
in the form as so changed.

 

4.9 Other
Events. In case any event shall occur affecting the Company as to which none of the provisions of the preceding subsections
of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order
to (i) avoid an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each
such case, the Company shall appoint a firm of independent registered public accountants, investment banking or other appraisal
firm of recognized national standing, which shall give its opinion as to whether or not any adjustment to the rights represented
by the Warrants is necessary to effectuate the intent and purpose of this Section 4 and, if they determine that an adjustment
is necessary, the terms of such adjustment; provided, however, that under no circumstances shall the Warrants be
adjusted pursuant to this Section 4.9 as a result of any issuance of securities in connection with a Business Combination.
The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

 

5. Transfer
and Exchange of Warrants.

 

5.1 Registration
of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant
Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied by
appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants
shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the Warrants
so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

    	 	11	 

     

    

 

5.2 Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for exchange
or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered
Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that
except as otherwise provided herein or with respect to any Book-Entry Warrant, each Book-Entry Warrant may be transferred only
in whole and only to the Depositary, to another nominee of the Depositary, to a successor depository, or to a nominee of a successor
depository; provided further, however that in the event that a Warrant surrendered for transfer bears a restrictive
legend (as in the case of the Private Placement Warrants), the Warrant Agent shall not cancel such Warrant and issue new Warrants
in exchange thereof until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may
be made and indicating whether the new Warrants must also bear a restrictive legend.

 

5.3 Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which shall result in
the issuance of a warrant certificate or book-entry position for a fraction of a warrant, except as part of the Units.

 

5.4 Service
Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5 Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the
terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company,
whenever required by the Warrant Agent, shall supply the Warrant Agent with Warrants duly executed on behalf of the Company for
such purpose.

 

5.6 Transfer
of Warrants. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit
in which such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such
Unit. Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants
included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.6 shall have no effect on any transfer
of Warrants on and after the Detachment Date.

 

6. Redemption.

 

6.1 Redemption
of Warrants for Cash. Subject to Section 6.6 hereof, not less than all of the outstanding Warrants may be redeemed,
at the option of the Company, at any time during the Exercise Period, at the office of the Warrant Agent, upon notice to the Registered
Holders of the Warrants, as described in Section 6.4 below, at a Redemption Price of $0.01 per Warrant, provided
that (a) the Reference Value equals or exceeds $18.00 per share (subject to adjustment in compliance with Section 4 hereof)
and (b) there is an effective registration statement covering the issuance of the Ordinary Shares issuable upon exercise
of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section
6.4 below).

 

    	 	12	 

     

    

 

6.2 Redemption
of Warrants for Ordinary Shares. Subject to Section 6.6 hereof, not less than all of the outstanding Warrants may be
redeemed, at the option of the Company, at any time during the Exercise Period, at the office of the Warrant Agent, upon notice
to the Registered Holders of the Warrants, as described in Section 6.4 below, at a Redemption Price of $0.10 per Warrant,
provided that (i) the Reference Value equals or exceeds $10.00 per share (subject to adjustment in compliance with Section
4 hereof) and (ii) if the Reference Value is less than $18.00 per share (subject to adjustment in compliance with Section
4 hereof), the Private Placement Warrants are also concurrently called for redemption on the same terms as the outstanding
Public Warrants. During the 30-day Redemption Period in connection with a redemption pursuant to this Section 6.2, Registered
Holders of the Warrants may elect to exercise their Warrants on a “cashless basis” pursuant to subsection 3.3.1
and receive a number of Ordinary Shares determined by reference to the table below, based on the Redemption Date (calculated
for purposes of the table as the period to expiration of the Warrants) and the “Redemption Fair Market Value” (as
such term is defined in this Section 6.2) (a “Make-Whole Exercise”). Solely for purposes of this
Section 6.2, the “Redemption Fair Market Value” shall mean the volume weighted average price
of the Ordinary Shares during the ten (10) trading days immediately following the date on which notice of redemption pursuant
to this Section 6.2 is sent to the Registered Holders. In connection with any redemption pursuant to this Section 6.2,
the Company shall provide the Registered Holders with the Redemption Fair Market Value no later than one (1) Business Day after
the ten (10) trading day period described above ends.

 

	Redemption
Date
	 	Redemption Fair Market Value of Ordinary Shares	 
	(period to expiration of warrants)	 	≤10.00	 	 	11.00	 	 	12.00	 	 	13.00	 	 	14.00	 	 	15.00	 	 	16.00	 	 	17.00	 	 	≥18.00	 
	60 months	 	 	0.261	 	 	 	0.281	 	 	 	0.297	 	 	 	0.311	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.361	 
	57 months	 	 	0.257	 	 	 	0.277	 	 	 	0.294	 	 	 	0.310	 	 	 	0.324	 	 	 	0.337	 	 	 	0.348	 	 	 	0.358	 	 	 	0.361	 
	54 months	 	 	0.252	 	 	 	0.272	 	 	 	0.291	 	 	 	0.307	 	 	 	0.322	 	 	 	0.335	 	 	 	0.347	 	 	 	0.357	 	 	 	0.361	 
	51 months	 	 	0.246	 	 	 	0.268	 	 	 	0.287	 	 	 	0.304	 	 	 	0.320	 	 	 	0.333	 	 	 	0.346	 	 	 	0.357	 	 	 	0.361	 
	48 months	 	 	0.241	 	 	 	0.263	 	 	 	0.283	 	 	 	0.301	 	 	 	0.317	 	 	 	0.332	 	 	 	0.344	 	 	 	0.356	 	 	 	0.361	 
	45 months	 	 	0.235	 	 	 	0.258	 	 	 	0.279	 	 	 	0.298	 	 	 	0.315	 	 	 	0.330	 	 	 	0.343	 	 	 	0.356	 	 	 	0.361	 
	42 months	 	 	0.228	 	 	 	0.252	 	 	 	0.274	 	 	 	0.294	 	 	 	0.312	 	 	 	0.328	 	 	 	0.342	 	 	 	0.355	 	 	 	0.361	 
	39 months	 	 	0.221	 	 	 	0.246	 	 	 	0.269	 	 	 	0.290	 	 	 	0.309	 	 	 	0.325	 	 	 	0.340	 	 	 	0.354	 	 	 	0.361	 
	36 months	 	 	0.213	 	 	 	0.239	 	 	 	0.263	 	 	 	0.285	 	 	 	0.305	 	 	 	0.323	 	 	 	0.339	 	 	 	0.353	 	 	 	0.361	 
	33 months	 	 	0.205	 	 	 	0.232	 	 	 	0.257	 	 	 	0.280	 	 	 	0.301	 	 	 	0.320	 	 	 	0.337	 	 	 	0.352	 	 	 	0.361	 
	30 months	 	 	0.196	 	 	 	0.224	 	 	 	0.250	 	 	 	0.274	 	 	 	0.297	 	 	 	0.316	 	 	 	0.335	 	 	 	0.351	 	 	 	0.361	 
	27 months	 	 	0.185	 	 	 	0.214	 	 	 	0.242	 	 	 	0.268	 	 	 	0.291	 	 	 	0.313	 	 	 	0.332	 	 	 	0.350	 	 	 	0.361	 
	24 months	 	 	0.173	 	 	 	0.204	 	 	 	0.233	 	 	 	0.260	 	 	 	0.285	 	 	 	0.308	 	 	 	0.329	 	 	 	0.348	 	 	 	0.361	 
	21 months	 	 	0.161	 	 	 	0.193	 	 	 	0.223	 	 	 	0.252	 	 	 	0.279	 	 	 	0.304	 	 	 	0.326	 	 	 	0.347	 	 	 	0.361	 
	18 months	 	 	0.146	 	 	 	0.179	 	 	 	0.211	 	 	 	0.242	 	 	 	0.271	 	 	 	0.298	 	 	 	0.322	 	 	 	0.345	 	 	 	0.361	 
	15 months	 	 	0.130	 	 	 	0.164	 	 	 	0.197	 	 	 	0.230	 	 	 	0.262	 	 	 	0.291	 	 	 	0.317	 	 	 	0.342	 	 	 	0.361	 
	12 months	 	 	0.111	 	 	 	0.146	 	 	 	0.181	 	 	 	0.216	 	 	 	0.250	 	 	 	0.282	 	 	 	0.312	 	 	 	0.339	 	 	 	0.361	 
	9 months	 	 	0.090	 	 	 	0.125	 	 	 	0.162	 	 	 	0.199	 	 	 	0.237	 	 	 	0.272	 	 	 	0.305	 	 	 	0.336	 	 	 	0.361	 
	6 months	 	 	0.065	 	 	 	0.099	 	 	 	0.137	 	 	 	0.178	 	 	 	0.219	 	 	 	0.259	 	 	 	0.296	 	 	 	0.331	 	 	 	0.361	 
	3 months	 	 	0.034	 	 	 	0.065	 	 	 	0.104	 	 	 	0.150	 	 	 	0.197	 	 	 	0.243	 	 	 	0.286	 	 	 	0.326	 	 	 	0.361	 
	0 months	 	 	—	 	 	 	—	 	 	 	0.042	 	 	 	0.115	 	 	 	0.179	 	 	 	0.233	 	 	 	0.281	 	 	 	0.323	 	 	 	0.361	 

 

    	 	13	 

     

    

 

The
exact Redemption Fair Market Value and Redemption Date may not be set forth in the table above, in which case, if the Redemption
Fair Market Value is between two values in the table or the Redemption Date is between two redemption dates in the table, the
number of Ordinary Shares to be issued for each Warrant exercised in a Make-Whole Exercise shall be determined by a straight-line
interpolation between the number of shares set forth for the higher and lower Redemption Fair Market Values and the earlier and
later redemption dates, as applicable, based on a 365- or 366-day year, as applicable.

 

6.3 The
share prices set forth in the column headings of the table above shall be adjusted as of any date on which the number of shares
issuable upon exercise of a Warrant or the Exercise Price is adjusted pursuant to Section 4 hereof. If the number of shares
issuable upon exercise of a Warrant is adjusted pursuant to Section 4 hereof, the adjusted share prices in the column headings
shall equal the share prices immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the number
of shares deliverable upon exercise of a Warrant immediately prior to such adjustment and the denominator of which is the number
of shares deliverable upon exercise of a Warrant as so adjusted. The number of shares in the table above shall be adjusted in
the same manner and at the same time as the number of shares issuable upon exercise of a Warrant. If the Exercise Price is adjusted,
(a) in the case of an adjustment pursuant to Section 4.4 hereof, the adjusted share prices in the column headings shall
equal the share prices immediately prior to such adjustment multiplied by a fraction, the numerator of which is the higher of
the Market Value and the Newly Issued Price and the denominator of which is $10.00 and (b) in the case of an adjustment pursuant
to Section 4.1.2 hereof, the adjusted share prices in the column headings shall equal the share prices immediately prior
to such adjustment less the decrease in the Exercise Price pursuant to such Exercise Price adjustment. In no event shall the Warrants
be exercisable in connection with a Make-Whole Exercise for more than 0.361 Ordinary Shares per Warrant (subject to adjustment).

 

6.4 Date
Fixed for, and Notice of, Redemption; Redemption Price; Reference Value. In the event that the Company elects to redeem the
Warrants pursuant to Sections 6.1 or 6.2, the Company shall fix a date for the redemption (the “Redemption
Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than
thirty (30) days prior to the Redemption Date (the period lasting from such time until the Redemption Date, the “30-day
Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall
appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been
duly given whether or not the Registered Holder received such notice. As used in this Agreement, (a) ”Redemption
Price” shall mean the price per Warrant at which any Warrants are redeemed pursuant to Sections 6.1 or 6.2
and (b) ”Reference Value” shall mean the last reported sales price of the Ordinary Shares for
any twenty (20) trading days within the thirty (30) trading-day period ending on the third (3rd) trading day prior
to the date on which notice of the redemption is given.

 

6.5 Exercise
After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with
Section 6.2 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to
Section 6.4 hereof and prior to the Redemption Date. On and after the Redemption Date, the record holder of the Warrants
shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

    	 	14	 

     

    

 

6.6 Exclusion
of Private Placement Warrants. The Company agrees that (a) the redemption rights provided in Section 6.1 hereof
shall not apply to the Private Placement Warrants if at the time of the redemption such Private Placement Warrants continue to
be held by the Sponsor or its Permitted Transferees and (b) if the Reference Value equals or exceeds $18.00 per share (subject
to adjustment in compliance with Section 4 hereof), the redemption rights provided in Section 6.2 hereof shall not
apply to the Private Placement Warrants if at the time of the redemption such Private Placement Warrants continue to be held by
the Sponsor or its Permitted Transferees. However, once such Private Placement Warrants are transferred (other than to Permitted
Transferees in accordance with Section 2.6 hereof), the Company may redeem the Private Placement Warrants pursuant to Section
6.1 or 6.2 hereof, provided that the criteria for redemption are met, including the opportunity of the holder of such
Private Placement Warrants to exercise the Private Placement Warrants prior to redemption pursuant to Section 6.5 hereof.
Private Placement Warrants that are transferred to persons other than Permitted Transferees shall upon such transfer cease to
be Private Placement Warrants and shall become Public Warrants under this Agreement, including for purposes of Section 9.8
hereof.

 

7. Other
Provisions Relating to Rights of Holders of Warrants.

 

7.1 No
Rights as Shareholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a shareholder of the
Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights
to vote or to consent or to receive notice as shareholders in respect of the meetings of shareholders or the election of directors
of the Company or any other matter.

 

7.2 Lost,
Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant
Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated
Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen,
mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or
not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3 Reservation
of Ordinary Shares. The Company shall at all times reserve and keep available a number of its authorized but unissued Ordinary
Shares that shall be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

    	 	15	 

     

    

 

7.4 Registration
of Ordinary Shares; Cashless Exercise at Company’s Option.

 

7.4.1 Registration
of the Ordinary Shares. The Company agrees that as soon as practicable, but in no event later than fifteen (15) Business Days
after the closing of its initial Business Combination, it shall use its commercially reasonable efforts to file with the Commission
a registration statement for the registration, under the Securities Act, of the Ordinary Shares issuable upon exercise of the
Warrants. The Company shall use its commercially reasonable efforts to cause the same to become effective within sixty (60) Business
Days following the closing of its initial Business Combination and to maintain the effectiveness of such registration statement,
and a current prospectus relating thereto, until the expiration or redemption of the Warrants in accordance with the provisions
of this Agreement. If any such registration statement has not been declared effective by the sixtieth (60th) Business
Day following the closing of the Business Combination, holders of the Warrants shall have the right, during the period beginning
on the sixty-first (61st) Business Day after the closing of the Business Combination and ending upon such registration
statement being declared effective by the Commission, and during any other period when the Company shall fail to have maintained
an effective registration statement covering the issuance of the Ordinary Shares issuable upon exercise of the Warrants, to exercise
such Warrants on a “cashless basis,” by exchanging the Warrants (in accordance with Section 3(a)(9) of the Securities
Act or another exemption) for that number of Ordinary Shares equal to the lesser of (A) the quotient obtained by dividing
(x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the excess of the “Fair Market Value”
(as defined below) less the Warrant Price by (y) the Fair Market Value and (B) 0.361. Solely for purposes of this subsection
7.4.1, “Fair Market Value” shall mean the volume-weighted average price of the Ordinary Shares as
reported during the ten (10) trading day period ending on the trading day prior to the date that notice of exercise is received
by the Warrant Agent from the holder of such Warrants or its securities broker or intermediary. The date that notice of “cashless
exercise” is received by the Warrant Agent shall be conclusively determined by the Warrant Agent. In connection with the
“cashless exercise” of a Public Warrant, the Company shall, upon request, provide the Warrant Agent with an opinion
of counsel for the Company (which shall be an outside law firm with securities law experience) stating that (i) the exercise of
the Warrants on a “cashless basis” in accordance with this subsection 7.4.1 is not required to be registered
under the Securities Act and (ii) the Ordinary Shares issued upon such exercise shall be freely tradable under United States federal
securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Securities Act) of the Company
and, accordingly, shall not be required to bear a restrictive legend. Except as provided in subsection 7.4.2, for the avoidance
of doubt, unless and until all of the Warrants have been exercised or have expired, the Company shall continue to be obligated
to comply with its registration obligations under the first three sentences of this subsection 7.4.1.

 

7.4.2 Cashless
Exercise at Company’s Option. If the Ordinary Shares are at the time of any exercise of a Public Warrant not listed
on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1)
of the Securities Act, the Company may, at its option, (i) require holders of Public Warrants who exercise Public Warrants to
exercise such Public Warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act as described
in subsection 7.4.1 and (ii) in the event the Company so elects, the Company shall (x) not be required to file or maintain
in effect a registration statement for the registration, under the Securities Act, of the Ordinary Shares issuable upon exercise
of the Warrants, notwithstanding anything in this Agreement to the contrary, and (y) use its commercially reasonable efforts to
register or qualify for sale the Ordinary Shares issuable upon exercise of the Public Warrant under applicable blue sky laws to
the extent an exemption is not available.

 

    	 	16	 

     

    

 

8. Concerning
the Warrant Agent and Other Matters.

 

8.1 Payment
of Taxes. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company or the
Warrant Agent in respect of the issuance or delivery of Ordinary Shares upon the exercise of the Warrants, but the Company shall
not be obligated to pay any transfer taxes in respect of the Warrants or such shares.

 

8.2 Resignation,
Consolidation, or Merger of Warrant Agent.

 

8.2.1 Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the
office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of
thirty (30) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder
of a Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then the holder of any
Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor
Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall
be a corporation or other entity organized and existing under the laws of the State of New York, in good standing and having its
principal office in the United States of America, and authorized under such laws to exercise corporate trust powers and subject
to supervision or examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested with
all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if
originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate,
the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor
Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor
Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and
effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties,
and obligations.

 

8.2.2 Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof
to the predecessor Warrant Agent and the Transfer Agent for the Ordinary Shares not later than the effective date of any such
appointment.

 

8.2.3 Merger
or Consolidation of Warrant Agent. Any entity into which the Warrant Agent may be merged or with which it may be consolidated
or any entity resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant
Agent under this Agreement without any further act.

 

8.3 Fees
and Expenses of Warrant Agent.

 

8.3.1 Remuneration.
The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and shall,
pursuant to its obligations under this Agreement, reimburse the Warrant Agent upon demand for all expenditures that the Warrant
Agent may reasonably incur in the execution of its duties hereunder.

 

    	 	17	 

     

    

 

8.3.2 Further
Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged,
and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent
for the carrying out or performing of the provisions of this Agreement.

 

8.4 Liability
of Warrant Agent.

 

8.4.1 Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary
or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder,
such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively
proved and established by a statement signed by the Chief Executive Officer, the President, the Chief Financial Officer, Chief
Operating Officer, the General Counsel, the Secretary or the Chairman of the Board of the Company and delivered to the Warrant
Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions
of this Agreement.

 

8.4.2 Indemnity.
The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct, fraud or bad faith. The Company
agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, out-of-pocket
costs and reasonable outside counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement,
except as a result of the Warrant Agent’s gross negligence, willful misconduct, fraud or bad faith.

 

8.4.3 Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity
or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by
the Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible
to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount
of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any
act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Ordinary Shares to
be issued pursuant to this Agreement or any Warrant or as to whether any Ordinary Shares shall, when issued, be valid and fully
paid and nonassessable.

 

8.5 Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the
terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised
and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of Ordinary Shares
through the exercise of the Warrants.

 

8.6 Waiver.
The Warrant Agent has no right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and Continental Stock Transfer & Trust Company as trustee thereunder) and hereby
agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.
The Warrant Agent hereby waives any and all Claims against the Trust Account and any and all rights to seek access to the Trust
Account.

 

    	 	18	 

     

    

 

9. Miscellaneous
Provisions.

 

9.1 Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure
to the benefit of their respective successors and assigns.

 

9.2 Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any
Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified
mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address
is filed in writing by the Company with the Warrant Agent), as follows:

 

CSR
ACQUISITION CORP.

1000 N. West Street, Suite 1200

Wilmington,
Delaware 19801

Attention: Chief Executive Officer

 

Any
notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to
or on the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified
mail or private courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address
is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental
Stock Transfer & Trust Company

One State Street, 30th Floor

New York, NY 10004

Attention: Compliance Department

 

9.3 Applicable
Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed
in all respects by the laws of the State of New York. Subject to applicable law, the Company hereby agrees that any action, proceeding
or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the
State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive forum for any such action, proceeding or claim. The Company hereby waives any objection
to such exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding the foregoing, the provisions
of this paragraph will not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other claim
for which the federal district courts of the United States of America are the sole and exclusive forum.

 

    	 	19	 

     

    

 

Any
person or entity purchasing or otherwise acquiring any interest in the Warrants shall be deemed to have notice of and to have
consented to the forum provisions in this Section 9.3. If any action, the subject matter of which is within the scope the forum
provisions above, is filed in a court other than a court located within the State of New York or the United States District Court
for the Southern District of New York (a “foreign action”) in the name of any warrant holder, such warrant holder
shall be deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located within the State of
New York or the United States District Court for the Southern District of New York in connection with any action brought in any
such court to enforce the forum provisions (an “enforcement action”), and (y) having service of process made upon
such warrant holder in any such enforcement action by service upon such warrant holder’s counsel in the foreign action as
agent for such warrant holder.

 

9.4 Persons
Having Rights under this Agreement. Nothing in this Agreement shall be construed to confer upon, or give to, any person, corporation
or other entity other than the parties hereto and the Registered Holders of the Warrants any right, remedy, or claim under or
by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. All covenants, conditions,
stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties
hereto and their successors and assigns and of the Registered Holders of the Warrants.

 

9.5 Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant
Agent in the United States of America, for inspection by the Registered Holder of any Warrant. The Warrant Agent may require any
such holder to submit such holder’s Warrant for inspection by the Warrant Agent.

 

9.6 Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

9.7 Effect
of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect
the interpretation thereof.

 

9.8 Amendments.
This Agreement may be amended by the parties hereto without the consent of any Registered Holder for the purpose of curing any
ambiguity or correcting any mistake, including conforming the provisions hereof to the description of the terms of the Warrants
and this Agreement set forth in the Prospectus, or defective provision contained herein or adding or changing any provisions with
respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties
deem shall not adversely affect the interest of the Registered Holders under this Agreement. All other modifications or amendments,
including any modification or amendment to increase the Warrant Price or shorten the Exercise Period and any amendment to the
terms of only the Private Placement Warrants, shall require the vote or written consent of the Registered Holders of 65% of the
then outstanding Public Warrants and, solely with respect to any amendment to the terms of the Private Placement Warrants or any
provision of this agreement with respect to the Private Placement Warrants, at least 65% of the then outstanding Private Placement
Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period
pursuant to Sections 3.1 and 3.2, respectively, without the consent of the Registered Holders.

 

9.9 Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

Exhibit
A Form of Warrant Certificate

Exhibit
B Legend — Private Placement Warrants

 

    	 	20	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.

 

	 	CSR ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name:	 Clifton S. Robbins
	 	 	Title: 	Chief Executive Officer
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature Page to Warrant Agreement] 

 

    	 	21	 

     

    

 

EXHIBIT
A

 

[FACE]

 

Number

 

Warrants

 

THIS
WARRANT SHALL BE VOID IF NOT EXERCISED PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED BELOW

 

CSR
Acquisition Corp.

Incorporated
Under the Laws of the Cayman Islands

 

CUSIP
[●]

 

Warrant
Certificate

 

This
Warrant Certificate certifies that           ,
or registered assigns, is the registered holder of         warrant(s)
(the “Warrants” and each, a “Warrant”) to purchase Class A ordinary shares,
$0.0001 par value (“Ordinary Shares”), of CSR Acquisition Corp., a Cayman Islands exempted company (the
“Company”). Each Warrant entitles the holder, upon exercise during the period set forth in the Warrant
Agreement referred to below, to receive from the Company that number of fully paid and nonassessable Ordinary Shares as set forth
below, at the exercise price (the “Exercise Price”) as determined pursuant to the Warrant Agreement,
payable in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement) of
the United States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency
of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms
used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Each
whole Warrant is initially exercisable for one fully paid and non-assessable Ordinary Share. Fractional shares shall not be issued
upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in
an Ordinary Share, the Company shall, upon exercise, round down to the nearest whole number the number of Ordinary Shares to be
issued to the Warrant holder. The number of Ordinary Shares issuable upon exercise of the Warrants is subject to adjustment upon
the occurrence of certain events as set forth in the Warrant Agreement.

 

The
initial Exercise Price per one Ordinary Share for any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment
upon the occurrence of certain events as set forth in the Warrant Agreement.

 

Subject
to the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the
extent not exercised by the end of such Exercise Period, such Warrants shall become void. The Warrants may be redeemed, subject
to certain conditions, as set forth in the Warrant Agreement.

 

    	 		 

     

    

 

Reference
is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions
shall for all purposes have the same effect as though fully set forth at this place.

 

This
Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This
Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York.

 

	 	CSR ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 	Authorized Signatory
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, AS WARRANT AGENT
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 		 

     

    

 

[Form
of Warrant Certificate]

 

[Reverse]

 

The
Warrants evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise
to receive    
Ordinary Shares and are issued or to be issued pursuant to a Warrant Agreement dated as of , 2020 (the “Warrant Agreement”),
duly executed and delivered by the Company to Continental Stock Transfer & Trust Company, a New York corporation, as warrant
agent (the “Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made
a part of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties
and immunities thereunder of the Warrant Agent, the Company and the holders (the words “holders” or
“holder” meaning the Registered Holders or Registered Holder, respectively) of the Warrants. A copy
of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. Defined terms used in this
Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Warrants
may be exercised at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by
this Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of Election to Purchase set
forth hereon properly completed and executed, together with payment of the Exercise Price as specified in the Warrant Agreement
(or through “cashless exercise” as provided for in the Warrant Agreement) at the principal corporate
trust office of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby, the number of Warrants exercised
shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its
assignee, a new Warrant Certificate evidencing the number of Warrants not exercised.

 

Notwithstanding
anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise
(i) a registration statement covering the issuance of the Ordinary Shares to be issued upon exercise is effective under the Securities
Act and (ii) a prospectus thereunder relating to the Ordinary Shares is current, except through “cashless exercise”
as provided for in the Warrant Agreement.

 

The
Warrant Agreement provides that upon the occurrence of certain events the number of Ordinary Shares issuable upon exercise of
the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the
holder thereof would be entitled to receive a fractional interest in an Ordinary Share, the Company shall, upon exercise, round
down to the nearest whole number of Ordinary Shares to be issued to the holder of the Warrant.

 

Warrant
Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in
person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations
provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates
of like tenor evidencing in the aggregate a like number of Warrants.

 

Upon
due presentation for registration of transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate
or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s)
in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except
for any tax or other governmental charge imposed in connection therewith.

 

The
Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate
(notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of
any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected
by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a
shareholder of the Company.

 

    	 		 

     

    

 

Election
to Purchase

 

(To
Be Executed Upon Exercise of Warrant)

 

The
undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive     
Ordinary Shares and herewith tenders payment for such Ordinary Shares to the order of CSR Acquisition Corp. (the “Company”)
in the amount of $     in accordance with the terms hereof. The undersigned requests that a certificate for
such Ordinary Shares be registered in the name of         , whose address is     
and that such Ordinary Shares be delivered to            whose address is    .
If said number of Ordinary Shares is less than all of the Ordinary Shares purchasable hereunder, the undersigned requests that
a new Warrant Certificate representing the remaining balance of such Ordinary Shares be registered in the name of    ,
whose address is                   and that such Warrant
Certificate be delivered to    , whose address is    .

In
the event that the Warrant has been called for redemption by the Company pursuant to Section 6.2 of the Warrant Agreement
and a holder thereof elects to exercise its Warrant pursuant to a Make-Whole Exercise, the number of Ordinary Shares that this
Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(c) or Section 6.2 of the Warrant
Agreement, as applicable.

 

In
the event that the Warrant is a Private Placement Warrant that is to be exercised on a “cashless” basis pursuant to
subsection 3.3.1(c) of the Warrant Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall
be determined in accordance with subsection 3.3.1(c) of the Warrant Agreement.

 

In
the event that the Warrant is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant
Agreement, the number of Ordinary Shares that this Warrant is exercisable for shall be determined in accordance with Section
7.4 of the Warrant Agreement.

 

In
the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the
number of Ordinary Shares that this Warrant is exercisable for would be determined in accordance with the relevant section of
the Warrant Agreement which allows for such cashless exercise and (ii) the holder hereof shall complete the following: The undersigned
hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions
of the Warrant Agreement, to receive Ordinary Shares. If said number of shares is less than all of the Ordinary Shares purchasable
hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing
the remaining balance of such Ordinary Shares be registered in the name of    ,
whose address is                   and that such Warrant
Certificate be delivered to    , whose
address is    .

 

[Signature
Page Follows]

 

Date:
   , 20

 

	 	(Signature)
	 	 
	 	(Address)
	 	 
	 	 
	 	(Tax Identification Number)

 

 

	Signature Guaranteed:	 
	 	 
	 	 

 

THE
SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND
CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).

 

    	 		 

     

    

 

EXHIBIT
B

 

LEGEND

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT
TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG CSR ACQUISITION CORP. (THE “COMPANY”),
CSR SPONSOR LLC AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR
TO THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED
IN THE RECITALS OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 2 OF THE
WARRANT AGREEMENT) WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES
EVIDENCED BY THIS CERTIFICATE AND CLASS A ORDINARY SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED
TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.

 

NO.
                                   WARRANTExhibit 4.2

 

BALL CORPORATION

 

and the

 

GUARANTORS

 

Parties Hereto

 

$1,300,000,000

 

2.875% SENIOR NOTES DUE
2030

 

THIRTEENTH SUPPLEMENTAL
INDENTURE

 

Dated as of August 13, 2020

 

To

 

INDENTURE

 

Dated as of November 27, 2015

 

DEUTSCHE BANK TRUST COMPANY
AMERICAS,

as Trustee, Registrar
and Paying Agent 

 

     

     

    

 

CROSS-REFERENCE TABLE*

 

	Trust Indenture	 
	Act Section	Supplemental
	Indenture Section	 
	310(a)(1)	7.10
	(a)(2)	7.10
	(a)(3)	N.A.
	(a)(4)	N.A.
	(a)(5)	7.10
	(b)	7.10
	(c)	N.A.
	311(a)	7.11
	(b)	7.11
	(c)	N.A.
	312(a)	2.05
	(b)	12.03
	(c)	12.03
	313(a)	7.06
	(b)(2)	7.06; 7.07
	(c)	7.06; 12.02
	(d)	7.06
	314(a)	4.03; 12.05
	(b)	N.A.
	(c)(1)	N.A.
	(c)(2)	N.A.
	(c)(3)	N.A.
	(e)	12.05
	(f)	N.A.
	315(a)	N.A.
	(b)	7.05, 12.02
	(c)	N.A.
	(d)	N.A.
	(e)	N.A.
	316(a) (last sentence)	2.09
	(a)(1)(A)	6.05
	(a)(1)(B)	6.04
	(a)(2)	N.A.
	(b)	6.07
	(c)	2.12
	317(a)(1)	N.A.
	(a)(2)	N.A.
	(b)	N.A.
	318(a)	N.A.
	(b)	N.A.
	(c)	12.01

 

N.A. means not applicable.

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

 

     

     

    

 

TABLE OF CONTENTS

 

ARTICLE 1.

DEFINITIONS AND INCORPORATION

BY REFERENCE

 

	Section 1.01	Definitions.	1
	Section 1.02	Other Definitions	12
	Section 1.03	Incorporation by Reference of Trust Indenture Act	12
	Section 1.04	Rules of Construction	12
	Section 1.05	Relationship with Base Indenture	13
	ARTICLE 2.

                                               THE NOTES

	 
	Section 2.01	Form and Dating	13
	Section 2.02	Execution and Authentication	14
	Section 2.03	Registrar and Paying Agent	14
	Section 2.04	Paying Agent to Hold Money in Trust	14
	Section 2.05	Holder Lists	15
	Section 2.06	Transfer and Exchange	15
	Section 2.07	Replacement Notes	18
	Section 2.08	Outstanding Notes	18
	Section 2.09	Treasury Notes	19
	Section 2.10	Temporary Notes	19
	Section 2.11	Cancellation	19
	Section 2.12	Defaulted Interest	19
	Section 2.13	CUSIP Number	19
	Section 2.14	Issuance of Additional Notes	19
	Section 2.15	FATCA	20
	ARTICLE 3.

                                               REDEMPTION AND PREPAYMENT

	 
	Section 3.01	Notice to Trustee	20
	Section 3.02	Selection of Notes to Be Redeemed	20
	Section 3.03	Notice of Redemption	21
	Section 3.04	Effect of Notice of Redemption	21
	Section 3.05	Deposit of Redemption Price	22
	Section 3.06	Notes Redeemed in Part	22
	Section 3.07 	Optional Redemption	22
	Section 3.08	Mandatory Redemption	23
	ARTICLE 4.

                                               COVENANTS

	 
	Section 4.01	Payment of Notes	23
	Section 4.02	Maintenance of Office or Agency	23
	Section 4.03	Reports.	24
	Section 4.04	Compliance Certificate	24
	Section 4.05	Taxes.	25
	Section 4.06	Stay, Extension and Usury Laws	25
	Section 4.07	Limitation on Liens	25
	Section 4.08	Corporate Existence	26
	Section 4.09	Offer to Purchase Upon Change of Control	26
	Section 4.10	Additional Guarantees	27
	Section 4.11	Sale and Leaseback Transactions	27

 

    i

     

    

 

ARTICLE 5.

SUCCESSORS

 

	Section 5.01	Merger, Consolidation or Sale of Assets	28
	Section 5.02	Successor Corporation Substituted	28
	 	 	 
	ARTICLE 6.

                                               DEFAULTS AND REMEDIES

	 
	Section 6.01	Events of Default	28
	Section 6.02	Acceleration	30
	Section 6.03	Other Remedies	30
	Section 6.04	Waiver of Past Defaults	30
	Section 6.05	Control by Majority	30
	Section 6.06 	Limitation on Suits	31
	Section 6.07	Rights of Holders of Notes to Receive Payment	31
	Section 6.08	Collection Suit by Trustee	31
	Section 6.09	Trustee May File Proofs of Claim	31
	Section 6.10	Priorities	32
	Section 6.11	Undertaking for Costs	32
	 	 	 
	ARTICLE 7.

                                               TRUSTEE

	 
	Section 7.01	Duties of Trustee	32
	Section 7.02	Rights of Trustee	33
	Section 7.03	Individual Rights of Trustee	34
	Section 7.04	Trustee’s Disclaimer	34
	Section 7.05	Notice of Defaults	34
	Section 7.06	Reports by Trustee to Holders of the Notes	35
	Section 7.07	Compensation and Indemnity	35
	Section 7.08	Replacement of Trustee	36
	Section 7.09	Successor Trustee by Merger, Etc.	36
	Section 7.10	Eligibility; Disqualification	36
	Section 7.11	Preferential Collection of Claims Against Company	37
	 	 	 
	ARTICLE 8.

                                               LEGAL DEFEASANCE AND COVENANT DEFEASANCE

	 
	Section 8.01	Option to Effect Legal Defeasance or Covenant Defeasance	37
	Section 8.02	Legal Defeasance and Discharge	37
	Section 8.03	Covenant Defeasance	37
	Section 8.04	Conditions to Legal or Covenant Defeasance	38
	Section 8.05	Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions	39
	Section 8.06	Repayment to Company	39
	Section 8.07	Reinstatement	39
	 	 	 
	ARTICLE 9.

                                               AMENDMENT, SUPPLEMENT AND WAIVER

	 
	Section 9.01	Without Consent of Holders of Notes	39
	Section 9.02	With Consent of Holders of Notes	40
	Section 9.03	Compliance With Trust Indenture Act	41
	Section 9.04	Revocation and Effect of Consents	42
	Section 9.05 	Notation on or Exchange of Notes	42
	Section 9.06	Trustee to Sign Amendments, Etc.	42

 

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	ARTICLE 10.

                                                                                NOTE GUARANTEES

	 
	Section 10.01	Guarantee	42
	Section 10.02	Limitation on Guarantor Liability	43
	Section 10.03	[Reserved.]	43
	Section 10.04	Guarantors May Consolidate, etc. on Certain Terms	43
	Section 10.05	Releases Following Sale of Assets, Etc.	44
	 	 	 
	ARTICLE 11.

                                                                                SATISFACTION AND DISCHARGE

	 
	Section 11.01	Satisfaction and Discharge	44
	 	 	 
	ARTICLE 12.

                                                                                MISCELLANEOUS

	 
	Section 12.01	Trust Indenture Act Controls	45
	Section 12.02	Notices	45
	Section 12.03	Communication by Holders of Notes with Other Holders of Notes	46
	Section 12.04	Certificate and Opinion as to Conditions Precedent.	46
	Section 12.05	Statements Required in Certificate and Opinion	47
	Section 12.06	Rules by Trustee and Agents	47
	Section 12.07	Calculation of Foreign Currency Amounts	47
	Section 12.08	No Personal Liability of Directors, Officers, Employees and Stockholders	47
	Section 12.09	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial	47
	Section 12.10	Force Majeure	48
	Section 12.11	No Adverse Interpretation of Other Agreements	48
	Section 12.12	Successors	48
	Section 12.13	Severability	48
	Section 12.14	Counterpart Originals	48
	Section 12.15	Table of Contents, Headings, Etc.	48
	Section 12.16	Patriot Act.	49

 

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	1.	INTEREST .  Ball Corporation, an Indiana corporation (the “Company”), promises to pay interest
on the principal amount of this Note at 2.875% per annum from the date hereof until maturity.  The Company will pay interest
semi-annually on February 15 and August 15 of each year, or if any such day is not a Business Day, on the next succeeding Business
Day (each an “Interest Payment Date”) as if it were made on the date the payment was due, and no interest will
accrue on the amount so payable for the period from and after that interest payment date or the maturity date, as the case may
be, to the date the payment is made.  Interest on the Notes will accrue from the most recent date to which interest has been
paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the
payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding
Interest Payment Date, interest will accrue from such next succeeding Interest Payment Date; provided, further, that the
first Interest Payment Date will be February 15, 2021.  The Company will pay interest (including post-petition interest
in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to the then applicable interest rate on the
Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law)
on overdue installments of interest at the same rate to the extent lawful.  Interest will be computed on the basis of a 360-day
year of twelve 30-day months.
	2.	METHOD OF PAYMENT.  The Company will pay interest on the Notes (except defaulted interest) to the Persons who are
registered Holders of Notes at the close of business on the February 1 and August 1 next preceding the Interest Payment Date,
even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in Section
2.12 of the Supplemental Indenture with respect to defaulted interest.  Principal, premium, if any, and interest on the Notes
will be payable at the office or agency of the Paying Agent and Registrar or, at the option of the Company, payment of interest
may be made by check mailed to the Holders of the Notes at their respective addresses set forth in the register of Holders of
Notes; provided that all payments of principal, premium and interest with respect to Notes the Holders of which have given
wire transfer instructions to the Trustee will be required to be made by wire transfer of immediately available funds to the accounts
specified by the Holders thereof.  Such payment will be in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts.
	3.	PAYING AGENT AND REGISTRAR.  Initially, Deutsche Bank Trust Company Americas, the Trustee under the Supplemental Indenture,
will act as Paying Agent and Registrar.  The Company may change any Paying Agent or Registrar without notice to any Holder. 
The Company or any of its Subsidiaries may act in any such capacity.
	4.	INDENTURE.  This Note is one of a duly authenticated series of securities of the Company issued and to be issued in
one or more series under an indenture (the “Base Indenture”), dated as of November 27, 2015, between the Company
and the Trustee, as amended by the Thirteenth Supplemental Indenture (the “Supplemental Indenture” and, together
with the Base Indenture, the “Indenture”), dated as of August 13, 2020, among the Company, the Guarantors
and the Trustee.  The terms of the Notes include those stated in the Supplemental Indenture and those made part of the Supplemental
Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code Sections 77aaa-77bbbb).  The Notes are
subject to all such terms, and Holders are referred to the Supplemental Indenture and such Act for a statement of such terms. 
To the extent any provision of this Note conflicts with the express provisions of the Base Indenture, the provisions of this Note
will govern and be controlling, and to the extent any provision of this Note conflicts with the express provisions of the Supplemental
Indenture, the provisions of the Supplemental Indenture will govern and be controlling.  The Company will be entitled to
issue Additional Notes pursuant to Section 2.14 of the Supplemental Indenture.
	5.	OPTIONAL REDEMPTION.  The Company may redeem all or any of the Notes at any time in whole, or from time to time in
part, prior to May 15, 2030 (three months prior to the maturity date of the Notes) (the “Par Call Date”), at
the Company’s option, at a redemption price equal to the greater of (1) 100% of the principal amount of the Notes to
be redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes
that would be due if such Notes matured on the Par Call Date, discounted to the date of redemption (excluding interest accrued
to the date of redemption), on a semiannual basis, at a rate equal to the sum of the Treasury Rate plus 50 basis points, plus
in each case, any accrued and unpaid interest on the Notes to but excluding the date of redemption.  The redemption prices
will be calculated assuming a 360-day year consisting of twelve 30-day months.
	6.	MANDATORY REDEMPTION.  The Company is not required to make mandatory redemption payments with respect to the Notes.

 

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	7.	REPURCHASE AT OPTION OF HOLDER UPON A CHANGE OF CONTROL REPURCHASE EVENT . If a Change of Control Repurchase Event occurs,
unless the Company has exercised its right to redeem the Notes as described under clause (5) above within 60 days after the Change
of Control, the Company will make an offer (a “Change of Control Offer”) to each holder of notes to repurchase
all or any part, equal to $2,000 or an integral multiple of $1,000 in excess thereof, of each Holder’s Notes at a repurchase
price in cash equal to 101% of the aggregate principal amount of the Notes repurchased plus accrued and unpaid interest on the
Notes repurchased to but excluding the date of repurchase.  Within 30 days following any Change of Control Repurchase Event
or, at the Company’s option, prior to the consummation of the Change of Control transaction, but after the public announcement
thereof, the Company will send a notice to each Holder setting forth the procedures governing the Change of Control Offer as required
by the Supplemental Indenture.  If sent prior to the date of consummation of the Change of Control transaction, the notice
will state that the Change of Control Offer is conditioned on a Change of Control Repurchase Event occurring prior to the Change
of Control Payment Date.  If Holders of not less than 90% in aggregate principal amount of the outstanding notes validly
tender and do not withdraw such Notes in a Change of Control Offer and the Company, or any third party making a Change of Control
Offer in lieu of the Company, purchases all of the Notes validly tendered and not withdrawn by such Holders, the Company or such
third party will have the right, upon not less than 10 days nor more than 60 days’ prior notice, provided that such notice
is given not more than 30 days following such purchase pursuant to the Change of Control Offer described above, to redeem all
Notes that remain outstanding following such purchase on a date (the “Second Change of Control )
	8.	NOTICE OF REDEMPTION.  Notice of redemption will be delivered at least 15 days but not more than 60 days before the
redemption date to each Holder whose Notes are to be redeemed.  Notes in denominations larger than $2,000 may be redeemed
in part but only in whole multiples of $1,000 in excess thereof, unless all of the Notes held by a Holder are to be redeemed. 
On and after the redemption date interest ceases to accrue on Notes or portions thereof called for redemption.
	9.	DENOMINATIONS, TRANSFER, EXCHANGE.  The Notes are in registered form without coupons in denominations of $2,000 and
integral multiples of $1,000 in excess thereof.  Notes may be transferred or exchanged as provided in the Supplemental Indenture. 
The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents
and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Supplemental Indenture. 
The Company need not exchange or transfer any Note or portion of a Note selected for redemption, except for the unredeemed portion
of any Note being redeemed in part.  Also, the Company need not exchange or register the transfer of any Notes for a period
of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest
Payment Date.
	10.	PERSONS DEEMED OWNERS.  The registered Holder of a Note may be treated as its owner for all purposes.

 

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	11.	AMENDMENT, SUPPLEMENT AND WAIVER.  The Base Indenture may be amended as provided therein.  Subject to certain
exceptions, the Supplemental Indenture, the Guarantees or the Notes may be amended or supplemented with the consent of the Holders
of at least a majority in aggregate principal amount of the Notes then outstanding, including, without limitation, consents obtained
in connection with a purchase of, or tender offer or exchange offer for, Notes, voting as a single class, and any existing default
or compliance with any provision of the Supplemental Indenture, the Guarantees or the Notes may be waived with the consent of
the Holders of a majority in aggregate principal amount of the then outstanding Notes, including, without limitation, consents
obtained in connection with a purchase of, or tender offer or exchange offer for, Notes, voting as a single class.  Without
the consent of any Holder of a Note, the Supplemental Indenture, the Guarantees or the Notes may be amended or supplemented (i) to
cure any ambiguity, defect or inconsistency; (ii) to provide for uncertificated Notes in addition to or in place of certificated
Notes, provided that such uncertificated notes are issued in registered form under Section 163(f)(5) of the Internal Revenue Code
of 1986, as amended; (iii) to provide for the assumption of the Company’s or a Guarantor’s obligations to Holders
of the Notes in case of a merger or consolidation or sale of all or substantially all of the Company’s  or Guarantor’s
assets, as applicable (iv) to make any change that would provide any additional rights or benefits to the Holders of the
Notes or that does not adversely affect the legal rights under the Supplemental Indenture of any such Holder in any material respect;
(v) to comply with the requirements of the SEC in order to effect or maintain the qualification of the Supplemental Indenture
under the Trust Indenture Act; (vi) to provide for the issuance of Additional Notes
	12.	DEFAULTS AND REMEDIES.  Each of the following
    is an “EVENT OF DEFAULT”:  (i) default for a period of 30 days in the payment when due of
    interest on the Notes; (ii) default in the payment when due of the principal of or premium, if any, on the Notes;
    (iii) the Company or any of its Subsidiaries fails for 30 days after notice specifying the default from the Trustee or
    Holders of at least 25% of the aggregate principal amount of Notes then outstanding to comply with any of the provisions of
    Section 4.09 of the Supplemental Indenture; (iv) the Company or any of its Subsidiaries fails for 60 days after notice
    specifying the default from the Trustee or Holders of at least 25% of the aggregate principal amount of Notes then
    outstanding to comply with any of the other agreements in the Supplemental Indenture or the Notes; (v) the Company or
    any of its Subsidiaries (other than a receivables securitization entity) defaults under any Indebtedness for money borrowed
    by the Company or any of its Subsidiaries (other than a receivables securitization entity) (or the payment of which is
    guaranteed by the Company or any of its Subsidiaries (other than a receivables securitization entity)) whether such
    Indebtedness or guarantee now exists, or is created after the date of the Supplemental Indenture, if that default (a) is
    caused by a failure to pay principal on such Indebtedness at its final stated maturity (or on or before the expiration of any
    grace period provided in such Indebtedness on the date of such default) (a “Payment Default”) or
    (b) results in the acceleration of such Indebtedness prior to its express maturity and, in each case, the principal
    amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there is a
    Payment Default or the maturity of which has been so accelerated, aggregates $75.0 million or more or its foreign currency
    equivalent, and in each case the Company has received notice specifying the default from the Trustee or Holders
of at least 25% of the aggregate principal amount of Notes then outstanding and thereafter does not cure the default within 30
days; (vi) the Company or any of its Subsidiaries fails to pay final judgments aggregating in excess of $75.0 million or its
foreign currency equivalent, excluding amounts covered by insurance, which judgments are not paid, discharged or stayed for a period
of 60 days; (vii) any Guarantee of a Significant Subsidiary is held in any judicial proceeding to be unenforceable or invalid or
ceases for any reason to be in full force and effect or any Guarantor that is a Significant Subsidiary, or any Person acting on
behalf of any Guarantor that is a Significant Subsidiary, denies or disaffirms its obligations under such Guarantor’s Guarantee,
in each case except as permitted by the Supplement Indenture; or (viii) certain events of bankruptcy or insolvency occur with
respect to the Company or any of its Subsidiaries that is a Significant Subsidiary pursuant to or within the meaning of Bankruptcy
Law.

 

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	13.	TRUSTEE DEALINGS WITH COMPANY.  The Trustee, in its individual or any other capacity, may make loans to, accept deposits
from, and perform services for the Company or its affiliates, and may otherwise deal with the Company or its affiliates, as if
it were not the Trustee.
	 	 
	14.	NO RECOURSE AGAINST OTHERS.  A director, officer, employee, incorporator or stockholder, of the Company or any Guarantor,
as such, will not have any liability for any obligations of the Company or the Guarantors under the Notes, the Guarantees or the
Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation.  Each
Holder of Notes by accepting a Note waives and releases all such liability.  The waiver and release are part of the consideration
for the issuance of the Notes.
	 	 
	15.	AUTHENTICATION.  This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating
agent.
	 	 
	16.	ABBREVIATIONS.  Customary abbreviations may be used in the name of a Holder or an assignee, such as:  TEN COM
(= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not
as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).
	 	 
	17.	CUSIP NUMBERS.  Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures,
the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption
as a convenience to Holders.  No representation is made as to the accuracy of such numbers either as printed on the Notes
or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
The Company will furnish to any Holder upon written request and without charge a copy of the Base Indenture, the Supplemental
Indenture and the Guarantees.  Requests may be made to:
	 	 
	1.	Capitalized Terms.  Capitalized terms used herein without definition will have the meanings assigned to them in the
Thirteenth Supplemental Indenture.
	 	 
	2.	Agreement to Guarantee.  The Guaranteeing Subsidiary hereby agrees as follows:

 

	(a) 	Along with all Guarantors named in the Thirteenth Supplemental Indenture, to jointly and severally Guarantee to each Holder of
a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, the Notes or the obligations
of the Company hereunder or thereunder, that:	1
	 	 	 
	(b) 	The obligations hereunder will be unconditional, irrespective of the validity, regularity or enforceability of the Notes or the
Thirteenth Supplemental Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes
with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the
same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a Guarantor.	2
	 	 	 
	(c)   	The following is hereby waived:  diligence, presentment, demand of payment, filing of claims with a court in the event of
insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all
demands whatsoever.	2
	 	 	 
	(d)   	This Note Guarantee will not be discharged except by complete performance of the obligations contained in the Notes and the Thirteenth
Supplemental Indenture, and the Guaranteeing Subsidiary accepts all obligations of a Guarantor under the Thirteenth Supplemental
Indenture.	2
	 	 	 
	(e)   	If any Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantors, or any custodian,
trustee, liquidator or other similar official acting in relation to either the Company or the Guarantors, any amount paid by either
to the Trustee or such Holder, this Note Guarantee, to the extent theretofore discharged, will be reinstated in full force and
effect.	2
	 	 	 
	(f)   	The Guaranteeing Subsidiary will not be entitled to any right of subrogation in relation to the Holders in respect of any obligations
guaranteed hereby until payment in full of all obligations guaranteed hereby.	2

 

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	(g)   	As between the Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations
guaranteed hereby may be accelerated as provided in Article 6 of the Thirteenth Supplemental Indenture for the purposes of this
Note Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations
guaranteed hereby, and (y) in the event of any declaration of acceleration of such obligations as provided in Article 6 of
the Thirteenth Supplemental Indenture, such obligations (whether or not due and payable) will forthwith become due and payable
by the Guarantors for the purpose of this Note Guarantee.	2
	 	 	 
	(h)   	The Guarantors will have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does
not impair the rights of the Holders under the Note Guarantee.	2
	 	 	 
	(i)  	 Pursuant to Section 10.02 of the Thirteenth Supplemental Indenture, after giving effect to any maximum amount and all other
contingent and fixed liabilities that are relevant under any applicable Bankruptcy or fraudulent conveyance laws, and after giving
effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Guarantor in
respect of the obligations of such other Guarantor under Article 10 of the Thirteenth Supplemental Indenture, this new Note Guarantee
will be limited to the maximum amount permissible such that the obligations of such Guarantor under this Note Guarantee will not
constitute a fraudulent transfer or conveyance.	2

 

	3.	Execution and Delivery.  Each Guaranteeing Subsidiary agrees that the Note Guarantees will remain in full force and
effect notwithstanding any failure to endorse on each Note a notation of such Note Guarantee.
	4.	Guaranteeing Subsidiary may Consolidate, etc. on Certain Terms.

 

	(a)   	The Guaranteeing Subsidiary may not sell or otherwise dispose of all substantially all of its assets to, or consolidate with or
merge with or into (whether or not such Guarantor is the surviving Person) another Person, other than the Company or another Guarantor
unless:	2
	 	 	 
	(b)   	In case of any such consolidation, merger, sale or conveyance and upon the assumption by the successor Person, by supplemental
indenture, executed and delivered to the Trustee, of the Note Guarantee endorsed upon the Notes and the due and punctual performance
of all of the covenants and conditions of the Thirteenth Supplemental Indenture to be performed by the Guarantor, such successor
Person will succeed to and be substituted for the Guarantor with the same effect as if it had been named herein as a Guarantor. 
Such successor Person thereupon may cause to be signed any or all of the Note Guarantees to be endorsed upon all of the Notes
issuable under the Thirteenth Supplemental Indenture which theretofore will not have been signed by the Company and delivered
to the Trustee.  All the Note Guarantees so issued will in all respects have the same legal rank and benefit under the Thirteenth
Supplemental Indenture as the Note Guarantees theretofore and thereafter issued in accordance with the terms of the Thirteenth
Supplemental Indenture as though all of such Note Guarantees had been issued at the date of the execution hereof.	3
	 	 	 
	(c)   	Except as set forth in Articles 4 and 5 and Section 10.05 of Article 10 of the Thirteenth Supplemental Indenture, and notwithstanding
clauses (a) and (b) above, nothing contained in the Thirteenth Supplemental Indenture or in any of the Notes will prevent any
consolidation or merger of a Guarantor with or into the Company or another Guarantor, or will prevent any sale or conveyance of
the property of a Guarantor as an entirety or substantially as an entirety to the Company or another Guarantor.	3

 

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	5.	Releases.

 

	(a)   	In the event of any sale or other disposition of all or substantially all of the assets of any Guarantor, by way of merger, consolidation
or otherwise, or a sale or other disposition of all of the capital stock of any Guarantor, in each case to a Person that is not
(either before or after giving effect to such transaction) a Subsidiary of the Company, then such Guarantor (in the event of a
sale or other disposition, by way of merger, consolidation or otherwise, of all of the capital stock of such Guarantor) or the
corporation acquiring the property (in the event of a sale or other disposition of all or substantially all of the assets of such
Guarantor) will be released and relieved of any obligations under its Note Guarantee; provided that such sale or other
disposition does not violate the applicable provisions of the Supplemental Indenture.  Upon delivery by the Company to the
Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect that such sale or other disposition was made
by the Company in accordance with the provisions of the Thirteenth Supplemental Indenture, the Trustee will execute any documents
(in form and substance reasonably acceptable to the Trustee) reasonably required in order to evidence the release of any Guarantor
from its obligations under its Note Guarantee.	3
	 	 	 
	(b)   	Any Guarantor not released from its obligations under its Note Guarantee will remain liable for the full amount of principal of
and interest on the Notes and for the other obligations of any Guarantor under the Thirteenth Supplemental Indenture as provided
in Article 10 of the Thirteenth Supplemental Indenture.	3

 

	6.	No Recourse Against Others.  No past, present or future director, officer, employee, incorporator, stockholder or
agent of the Guaranteeing Subsidiary, as such, will have any liability for any obligations of the Company or any Guaranteeing
Subsidiary under the Notes, any Note Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect
of, or by reason of, such obligations or their creation.  Each Holder of the Notes by accepting a Note waives and releases
all such liability.  The waiver and release are part of the consideration for issuance of the Notes.  Such waiver may
not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against
public policy.
	7.	New York Law to Govern.  THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL
INDENTURE BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS
OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.
	8.	Counterparts.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy will
be an original, but all of them together represent the same agreement.
	9.	Effect of Headings.  The Section headings herein are for convenience only and will not affect the construction hereof.
	10.	The Trustee.  The Trustee will not be responsible in any manner whatsoever for or in respect of the validity or sufficiency
of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by
the Guaranteeing Subsidiary and the Company.

	Exhibit A	FORM OF NOTE
	Exhibit B	FORM OF SUPPLEMENTAL INDENTURE TO BE DELIVERED BY SUBSEQUENT GUARANTORS

 

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THIRTEENTH SUPPLEMENTAL INDENTURE, dated
as of August 13, 2020, by and among Ball Corporation, an Indiana corporation (the “Company”), the Guarantors
(as defined below) and Deutsche Bank Trust Company Americas, as trustee, registrar and paying agent (the “Trustee”).

 

The Company has heretofore executed and
delivered to the Trustee an indenture, dated as of November 27, 2015 (the “Base Indenture”), providing for the
issuance from time to time of one or more series of the Company’s securities.

 

The Company and the Guarantors desire and
have requested the Trustee pursuant to Section 9.01 of the Base Indenture to join with them in the execution and delivery of this
Supplemental Indenture in order to supplement the Base Indenture to the extent set forth herein to provide for the issuance and
the terms of the Notes (as defined below).

 

Section 9.01(6) of the Base Indenture provides
that the Company and the Trustee, without the consent of any holders of the Company’s Securities, may provide for the issuance
of and establish the form and terms and conditions of Notes of any series as permitted by Sections 2.01 and 2.02 thereof. The provisions
contained in this Thirteenth Supplemental Indenture shall govern only the 2.875% Senior Notes due 2030 issued hereunder.

 

The execution and delivery of this Supplemental
Indenture has been duly authorized by a board resolution of the Company and each of the Guarantors.

 

All conditions and requirements necessary
to make this Supplemental Indenture a valid, binding and legal instrument in accordance with its terms have been performed and
fulfilled by the Company and the Guarantors and the execution and delivery thereof have been in all respects duly authorized by
the Company and the Guarantors.

 

The Company, the Guarantors and the Trustee
agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined herein) of the
2.875% Senior Notes due 2030 (the “Notes”):

 

ARTICLE
1.

DEFINITIONS AND INCORPORATION

BY REFERENCE

 

		Section	1.01       
                                         Definitions.

 

“Additional Notes” means
any Notes (other than the Initial Notes) issued under this Supplemental Indenture in accordance with Section 2.14 hereof, as part
of the same series as the Initial Notes.

 

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

 

“Applicable Procedures”
means, with respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules and procedures of
the Depositary that apply to such transfer or exchange.

 

“Attributable Debt” means,
with respect to any Sale and Leaseback Transaction, at the time of determination, the lesser of (1) the sale price of the property
so leased multiplied by a fraction the numerator of which is the remaining portion of the base term of the lease included in such
transaction and the denominator of which is the base term of such lease, and (2) the total obligation (discounted to the present
value at the implicit interest factor, determined in accordance with GAAP, included in the rental payments) of the lessee for rental
payments (other than amounts required to be paid on account of property taxes as well as maintenance, repairs, insurance, water
rates and other items which do not constitute payments for property rights) during the remaining portion of the base term of the
lease included in such transaction. Notwithstanding the foregoing, if such Sale and Leaseback Transaction results in a Finance
Lease Obligation, the amount of Indebtedness represented thereby will be determined in accordance with the definition of “Finance
Lease Obligation.”

 

    1

     

    

 

“Bankruptcy Law” means
Title 11, U.S. Code or any similar federal or state law for the relief of debtors.

 

“Base Indenture” means
the base indenture referred to in the preamble to this Supplemental Indenture, as amended, supplemented or otherwise modified from
time to time in accordance with the terms thereof.

 

“Beneficial Owner” has
the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial
ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person”
will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion
or exercise of other securities, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent
condition. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding meaning.

 

Notwithstanding the preceding or any provision
of Rule 13d-3 or 13d-5 of the Exchange Act, a person or group shall not be deemed to beneficially own Voting Stock subject to a
stock or asset purchase agreement, merger agreement, option agreement, warrant agreement or similar agreement (or voting, support,
option or similar agreement related thereto) until the consummation of the acquisition of the Voting Stock in connection with the
transactions contemplated by such agreement.

 

“Board of Directors”
means:

 

(1)               
with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act
on behalf of such board;

 

(2)               
with respect to a partnership, the Board of Directors of the general partner of the partnership;

 

(3)               
with respect to a limited liability company, the managing member or members or any controlling committee of managing members
or managers thereof; and

 

(4)               
with respect to any other Person, the board or committee of such Person serving a similar function.

 

“Business Day” means
any day other than a Legal Holiday.

 

“Capital Stock” means:

 

(1)               
in the case of a corporation, corporate stock;

 

(2)               
in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents
(however designated) of corporate stock;

 

(3)               
in the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership
interests; and

 

(4)               
any other interest or participation that confers on a Person the right to receive a share of the profits and losses of,
or distributions of assets of, the issuing Person, but excluding from all of the foregoing any debt securities convertible into
Capital Stock, whether or not such debt securities include any right of participation with Capital Stock.

 

    2

     

    

 

“Change of Control” means
the occurrence of any of the following:

 

(1)               
the sale, transfer, conveyance or other disposition, other than by way of merger or consolidation, in one or a series of
related transactions, of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole to any “person,”
as that term is used in Section 13(d)(3) of the Exchange Act, other than to the Company or any of its Subsidiaries;

 

(2)               
the adoption of a plan relating to the liquidation or dissolution of the Company; or

 

(3)               
 the consummation of any transaction, including, without limitation, any merger or consolidation, the result of which is
that any “person,” as defined above, becomes the Beneficial Owner, directly or indirectly, of more than 50% of the
Voting Stock of the Company, measured by voting power rather than number of shares.

 

Notwithstanding the foregoing, a transaction
will not be deemed to involve a Change of Control if (a) the Company becomes a direct or indirect wholly-owned Subsidiary of a
holding company and (b)(1) the direct or indirect holders of the Voting Stock of such holding company immediately following that
transaction are substantially the same as the holders of the Company’s Voting Stock immediately prior to that transaction
or (2) immediately following that transaction no person (other than a holding company satisfying the requirements of this sentence)
is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company.

 

“Change of Control Repurchase Event”
means the occurrence of both a Change of Control and a Ratings Event.

 

“Company” means Ball
Corporation, and any and all successors thereto.

 

“Consolidated Cash Flow”
means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period plus,
without duplication:

 

(1)               
provision for taxes based on income or profits of such Person and its Subsidiaries for such period, to the extent that such
provision for taxes was deducted in computing such Consolidated Net Income; plus

 

(2)               
consolidated interest expense of such Person and its Subsidiaries for such period, whether paid or accrued and whether or
not capitalized, including, without limitation, amortization of debt issuance costs and original issue discount, non-cash interest
payments, the interest component of any deferred payment obligations, the interest component of all payments associated with Finance
Lease Obligations, imputed interest with respect to Attributable Debt, commissions, discounts and other fees and charges incurred
in respect of letter of credit or bankers’ acceptance financings and receivables financings, and net payments, if any, pursuant
to Hedging Obligations, to the extent that any such expense was deducted in computing such Consolidated Net Income; plus

 

(3)               
depreciation, amortization, including amortization of goodwill and other intangibles but excluding amortization of prepaid
cash expenses that were paid in a prior period, and other non-cash expenses, excluding any such non-cash expense to the extent
that it represents an accrual of or reserve for cash expenses in any future period, of such Person and its Subsidiaries for such
period to the extent that such depreciation, amortization and other non-cash expenses were deducted in computing such Consolidated
Net Income; minus

 

(4)               
non-cash items increasing such Consolidated Net Income for such period, other than items that were accrued in the ordinary
course of business;

 

in each case, on a consolidated basis and
determined in accordance with GAAP.

 

    3

     

    

 

“Consolidated Net Income”
means, with respect to any specified Person for any period, the aggregate of the Net Income of such Person and its Subsidiaries
for such period, on a consolidated basis, determined in accordance with GAAP; provided, that the following items shall be
excluded in computing Consolidated Net Income (without duplication):

 

(1)               
the Net Income (but not loss) of any Person (other than the Company) that is not a Subsidiary or that is accounted for by
the equity method of accounting except to the extent of the amount of dividends or distributions paid in cash to the specified
Person or a Subsidiary of the Person;

 

(2)               
 the Net Income of any Subsidiary to the extent that the declaration or payment of dividends or similar distributions by
that Subsidiary of that Net Income is not at the date of determination permitted without any prior governmental approval, that
has not been obtained or, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment,
decree, order, statute, rule or governmental regulation applicable to that Subsidiary or its stockholders;

 

(3)               
the Net Income of any Person acquired in a pooling of interests transaction for any period prior to the date of such acquisition;

 

(4)               
the cumulative effect of a change in accounting principles;

 

(5)               
any gains or losses (on an after-tax basis) attributable to asset dispositions;

 

(6)               
all extraordinary, unusual, or non-recurring gains, charges, expenses or losses;

 

(7)               
any non-cash compensation expenses recorded from grants of stock options, restricted stock and other equity equivalents
to officers, directors and employees;

 

(8)               
any impairment charge or asset write off;

 

(9)               
net charges associated with or related to any restructurings;

 

(10)            
all financial advisory fees, accounting fees, legal fees and similar advisory and consulting fees and related costs and
expenses of the Company and its Subsidiaries incurred as a result of asset acquisitions, investments, asset sales and the issuance
of Capital Stock or Indebtedness (whether or not successful), all determined in accordance with GAAP and in each case eliminating
any increase or decrease in income resulting from non-cash accounting adjustments made in connection with the related asset acquisition,
investment or asset sale;

 

(11)            
expenses incurred by the Company or any Subsidiary to the extent reimbursed in cash by a third party;

 

(12)            
all other non-cash charges, including unrealized gains or losses on agreements with respect to Hedging Obligations and all
non-cash charges associated with announced restructurings, whether announced previously or in the future; and

 

(13)            
income or loss attributable to discontinued operations (including, without limitation, operations disposed of during such
period whether or not such operations were classified as discontinued).

 

“Consolidated Net Tangible Assets”
means, with respect to any specified Person as of any date, the total assets of such Person and its Subsidiaries as of the most
recent fiscal quarter end for which a consolidated balance sheet of such Person and its Subsidiaries is internally available as
of that date, minus (a) all current liabilities of such Person and its Subsidiaries reflected on such balance sheet (excluding
any current liabilities for borrowed money having a maturity of less than 12 months but by its terms being renewable or extendible
beyond 12 months from such date at the option of the borrower) and (b) all goodwill, trade names, trademarks, patents, unamortized
debt discount and expense and other like intangible assets of such Person and its Subsidiaries reflected on such balance sheet,
as determined on a consolidated basis in accordance with GAAP.

 

    4

     

    

 

“Consolidated Secured
Indebtedness” means, with respect to any specified Person as of any date, (a) the total amount of Indebtedness of
such Person and its Subsidiaries as of the most recent consolidated balance sheet of such Person and its Subsidiaries that is
available as of that date that is secured by a Lien on the assets or property of such specified Person or upon shares of
Capital Stock or Indebtedness of any of its Subsidiaries, as determined on a consolidated basis in accordance with GAAP, plus
(b) the total amount of Finance Lease Obligations of such Person and its Subsidiaries as of the most recent consolidated
balance sheet of such Person and its Subsidiaries that is available as of that date, as determined on a consolidated basis in
accordance with GAAP, plus (c) the total amount of Attributable Debt in respect of Sale and Leaseback Transactions of such
Person and its Subsidiaries as of such date.

 

“Consolidated Secured Leverage
Ratio” means, with respect to any specified Person as of any date, the ratio of (a) the Consolidated Secured Indebtedness
of such Person as of such date to (b) the Consolidated Cash Flow of such Person for the four most recent full fiscal quarters ending
immediately prior to such date for which internal financial statements are available. In the event that the specified Person or
any of its Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness
that is secured by a Lien on Principal Property of such Person or upon shares of stock or Indebtedness of any of its Subsidiaries
(other than ordinary working capital borrowings) subsequent to the commencement of the period for which such Consolidated Cash
Flow is being calculated and on or prior to the date on which the event for which the calculation of the Consolidated Secured Leverage
Ratio is made (the “Calculation Date”), then the Consolidated Secured Leverage Ratio will be calculated giving
pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase, redemption, defeasance or other discharge of
Indebtedness, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four-quarter
reference period.

 

In addition, for purposes of calculating
the Consolidated Secured Leverage Ratio:

 

(1)               
acquisitions and dispositions that have been made by the specified Person or any of its Subsidiaries, including through
mergers or consolidations, or any Person or any of its Subsidiaries acquired by the specified Person or any of its Subsidiaries,
and including any related financing transactions and giving effect to the application of proceeds from any dispositions, during
the four-quarter reference period or subsequent to such reference period and on or prior to the Calculation Date will be deemed
to have occurred on the first day of the four-quarter reference period and Consolidated Cash Flow for such reference period will
be calculated without giving effect to clause (3) of the proviso set forth in the definition of Consolidated Net Income; and

 

(2)               
the Consolidated Cash Flow attributable to discontinued operations, as determined in accordance with GAAP, and operations
or businesses disposed of prior to the Calculation Date, will be excluded,

 

provided that to the extent that clause (1) or (2) of
this paragraph requires that pro forma effect be given to an acquisition, disposition or discontinued operations, as applicable,
such pro forma calculation shall be made in good faith by a responsible financial or accounting officer of the Company (and may
include, for the avoidance of doubt and without duplication, cost savings, synergies and operating expense resulting from such
acquisition whether or not such cost savings, synergies or operating expense reductions would be allowed under Regulation S-X promulgated
by the SEC or any other regulation or policy of the SEC).

 

“Corporate Trust Office of the
Trustee” will be (i) for purposes of surrender, transfer or exchange of any Note, Deutsche Bank Trust Company Americas,
c/o DB Services Americas, Inc., 5022 Gate Parkway, Suite 200 Jacksonville, FL 32256, Attn: Transfer Department and for all other
purposes, Deutsche Bank Trust Company Americas, Trust and Agency Services, 60 Wall Street, 24th Floor, Mail Stop: NYC60-2405, New
York, NY 10005, Attn: Corporates Team, Ball Corp., or (ii) any such other address as to which the Trustee may give notice to the
Company.

 

“Custodian” means the
Trustee, as custodian with respect to the Notes in global form, or any successor entity thereto.

 

“Definitive Note” means
a certificated Note registered in the name of the Holder thereof and issued in accordance with Section 2.06 hereof, substantially
in the form of Exhibit A hereto except that such Note will not bear the Global Note Legend.

 

“Default” means any event
that is, or with the passage of time or the giving of notice or both would be, an Event of Default.

 

    5

     

    

 

“Depositary” means, with
respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 2.03 hereof as the
Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such
pursuant to the applicable provision of this Supplemental Indenture.

 

“Description of Notes”
means the description of notes section of the Company’s prospectus supplement, dated August 10, 2020, relating to the offering
of the Initial Notes.

 

“Domestic Subsidiary”
means any Subsidiary of the Company other than a Foreign Subsidiary.

 

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

 

“Excluded Subsidiary”
means such Subsidiaries of the Company as may from time to time be designated by the Company as “Excluded Subsidiaries”
pursuant to an Officers’ Certificate delivered to the Trustee; provided, that each such Subsidiary shall be an Excluded
Subsidiary only if and only for so long as:

 

(1)               
the aggregate of the net sales of all such Subsidiaries shall not exceed $60 million in any twelve-month period; and

 

(2)               
the aggregate of the assets, including capitalization, of all such Subsidiaries as of any date shall not exceed $60 million.

 

“Finance Lease Obligation”
means, at the time any determination is to be made, the amount of the liability in respect of a finance lease that would have been
required to be capitalized on a balance sheet prepared in accordance with GAAP.

 

“Fitch” means Fitch Ratings,
Inc., also known as Fitch Ratings, and its successors.

 

“Foreign Subsidiary”
means any Subsidiary of the Company that is organized under the laws of a jurisdiction other than the United States of America
or any state thereof or the District of Columbia.

 

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

 

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

 

“Global Notes” means,
individually and collectively, each of the Global Notes, in the form of Exhibit A hereto issued in accordance with Section
2.01 hereof.

 

“Government Securities”
means direct obligations of, or obligations guaranteed by, the United States of America, and the payment for which the United States
pledges its full faith and credit.

 

“Guarantee” means a guarantee,
other than by endorsement of negotiable instruments for collection in the ordinary course of business, direct or indirect, in any
manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in
respect thereof, of all or any part of any Indebtedness.

 

    6

     

    

 

“Guarantors” means:

 

(1)               
each Domestic Subsidiary of the Company as of the date of this Supplemental Indenture that Guarantees any other Indebtedness
of the Company (other than the Excluded Subsidiaries); and

 

(2)               
 any other Subsidiary of the Company that executes a supplemental indenture in the form of Exhibit B and becomes
a Guarantor in accordance with the provisions of this Supplemental Indenture;

 

(3)               
and, in each case, their respective successors and assigns.

 

“Hedging Obligations”
means, with respect to any specified Person, the net payment obligations of such Person under:

 

(1)               
interest rate swap agreements (including from fixed to floating or from floating to fixed), interest rate cap agreements
and interest rate collar agreements; and

 

(2)               
other agreements or arrangements designed to protect such Person against fluctuations in currency exchange rates or commodity
prices.

 

“Holder” means a Person
in whose name a Note is registered.

 

“Indebtedness” means,
with respect to any specified Person, any indebtedness of such Person, in respect of borrowed money, whether evidenced by credit
agreements, bonds, notes, debentures or similar instruments or letters of credit, or reimbursement agreements in respect thereof.
In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any Principal Property
of the specified Person or upon the shares of Capital Stock or Indebtedness of any Subsidiary of the specified Person, whether
or not such Indebtedness is assumed by the specified Person, and, to the extent not otherwise included, the Guarantee by the specified
Person of any Indebtedness of any other Person or any liability of any person, whether or not contingent and whether or not it
appears on the balance sheet of such Person.

 

The amount of any Indebtedness outstanding
as of any date will be:

 

(1)               
the accreted value of the Indebtedness, in the case of any Indebtedness that does not require the current payment of interest;

 

(2)               
the principal amount of the Indebtedness in the case of any other Indebtedness; and

 

(3)               
in respect of Indebtedness of another Person secured by a Lien on the assets of the specified Person, the lesser of:

 

(a)                
the fair market value (as determined in good faith by the Company) of such assets at the date of determination; and

 

(b)               
the amount of the Indebtedness of the other Person.

 

For the avoidance of doubt, a letter of credit or analogous
instrument will not constitute Indebtedness until it has been drawn upon.

 

    7

     

    

 

“Indenture” means the
Base Indenture, as supplemented by this Supplemental Indenture, governing the Notes, in each case, as amended, supplemented or
restated from time to time.

 

“Indirect Participant”
means a Person who holds a beneficial interest in a Global Note through a Participant.

 

“Initial Notes” means
the first $1.3 billion aggregate principal amount of Notes issued under this Supplemental Indenture on the date hereof.

 

“Investment Grade”
means (i) a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of
Moody’s), (ii) a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of
S&P), (iii) a rating of BBB- or better by Fitch (or its equivalent under any successor rating categories of Fitch) and
the equivalent Investment Grade credit rating from any additional Rating Agency or Rating Agencies selected by the
Company.

 

“Legal Holiday” means
a Saturday, a Sunday or a day on which banking institutions in the City of New York, the city in which the principal office of
the Trustee is located or at a place of payment are authorized by law, regulation or executive order to remain closed. If a payment
date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal
Holiday, and no interest will accrue on such payment for the intervening period.

 

“Lien” means, with respect
to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether
or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement
or any lease in the nature thereof; provided that in no event will an operating lease be deemed to constitute a Lien.

 

“Moody’s” means
Moody’s Investors Services, Inc., a subsidiary of Moody’s Corporation, and its successors.

 

“Net Income” means, with
respect to any specified Person, the net income or loss of such Person, determined in accordance with GAAP and before any reduction
in respect of preferred stock dividends, excluding, however:

 

(1)               
any gain or loss, together with any related provision for taxes on such gain or loss, realized in connection with the disposition
of any securities by such Person or any of its Subsidiaries or the extinguishment of any Indebtedness of such Person or any of
its Subsidiaries;

 

(2)               
any extraordinary gain or loss, together with any related provision for taxes on such extraordinary gain or loss; and

 

(3)               
any one-time noncash charges (including legal, accounting, debt issuance and debt retirement costs) resulting from the offering
of the Initial Notes, the application of the net proceeds therefrom and the payment of related fees and expenses.

 

“Notes” has the meaning
assigned to it in the preamble to this Supplemental Indenture. The Initial Notes and the Additional Notes will be treated as a
single class for all purposes under this Supplemental Indenture, and unless the context otherwise requires, all references to the
Notes will include the Initial Notes and any Additional Notes.

 

“Officer” means, with
respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer, the
Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Vice-President of such Person.

 

“Officers’ Certificate”
means a certificate signed on behalf of the Company by two Officers of the Company, one of whom must be a vice-president, the principal
financial officer or the principal accounting officer of the Company, that meets the requirements of Sections 12.04 and 12.05 hereof.

 

“Opinion of Counsel”
means an opinion from legal counsel, that meets the requirements of Sections 12.04 and 12.05 hereof. The counsel may be an employee
of or counsel to the Company, or any Subsidiary of the Company.

 

“Participant” means,
with respect to the Depositary, a Person who has an account with the Depositary.

 

    8

     

    

 

“Permitted Liens” means:

 

(1)                Liens
securing Indebtedness on any Principal Property existing at the time of its acquisition and Liens on any Principal Property
created contemporaneously with or within 270 days after (or created pursuant to firm commitment financing arrangements
obtained within that period) the later of (a) the acquisition or completion of construction or completion of the
reconstruction, renovation, remodeling, expansion or improvement (each, a “substantial improvement”) of such
Principal Property or (b) the placing in operation of such Principal Property after the acquisition or completion of any
such construction or substantial improvement;

 

(2)               
Liens on property or assets or shares of Capital Stock or Indebtedness of a Person existing at the time it is merged, combined
or amalgamated with or into or consolidated with, or its assets or Capital Stock are acquired by, the Company or any of its Subsidiaries
or it otherwise becomes a Subsidiary of the Company; provided, however, that in each case (a) the Indebtedness secured by
such Lien was not incurred in contemplation of such merger, combination, amalgamation, consolidation, acquisition or transaction
in which such Person becomes a Subsidiary of the Company and (b) such Lien extends only to the Capital Stock and assets of
such Person (and Subsidiaries of such Person) and/or to property other than Principal Property or the Capital Stock or Indebtedness
of any Subsidiary of the Company;

 

(3)               
Liens securing Indebtedness in favor of the Company and/or one or more of its Subsidiaries;

 

(4)               
Liens in favor of or required by a governmental unit in any relevant jurisdiction, including any departments or instrumentality
thereof, to secure payments under any contract or statute, or to secure debts incurred in financing the acquisition or construction
of or improvements or alterations to property subject thereto;

 

(5)               
Liens in favor of any customer arising in respect of and not exceeding the amount of performance deposits and partial, progress,
advance or other payments by that customer for goods produced or services rendered to that customer in the ordinary course of business
and consignment arrangements (whether as consignor or as consignee) or similar arrangements for the sale or purchase of goods in
the ordinary course of business;

 

(6)               
Liens existing on the date of this Supplemental Indenture;

 

(7)               
Liens to secure any extension, renewal, refinancing, refunding or replacement (or successive extensions, renewals, refinancings,
refundings or replacements), in whole or in part, of any Indebtedness secured by Liens referred to in the foregoing clauses (1)
through (6) or the following clauses (10) or (11) or Liens created in connection with any amendment, consent or waiver relating
to such Indebtedness, so long as (a) such Lien is limited to (i) all or part of substantially the same property which
secured the Lien extended, renewed, refinanced, refunded or replaced and/or (ii) property other than Principal Property or
the Capital Stock or Indebtedness of any Subsidiary of the Company and (b) the amount of Indebtedness secured is not increased
(other than by the amount equal to any costs, expenses, premiums, fees or prepayment penalties incurred in connection with any
extension, renewal, refinancing, refunding or replacement);

 

(8)               
Liens in respect of cash in connection with the operation of cash management programs and Liens associated with the discounting
or sale of letters of credit and customary rights of set off, banker’s Lien, revocation, refund or chargeback or similar
rights under deposit disbursement, concentration account agreements or under the Uniform Commercial Code or arising by operation
of law;

 

(9)               
Liens resulting from the deposit of funds or evidences of Indebtedness in trust for the purpose of defeasing or discharging
Indebtedness of the Company or any of its Restricted Subsidiaries, and legal or equitable encumbrances deemed to exist by reason
of negative pledges;

 

(10)            
Liens securing Indebtedness in an aggregate principal amount not to exceed, as of the date such Indebtedness is incurred,
the amount that would cause the Consolidated Secured Leverage Ratio of the Company to be greater than 3.00 to 1.00 as of such date
of incurrence; or

 

    9

     

    

 

(11)            
 other Liens, in addition to those permitted in the foregoing clauses (1) through (10), securing Indebtedness having
an aggregate principal amount (including all outstanding Indebtedness incurred pursuant to the foregoing clause (7) to renew, refund,
refinance, replace, defease or discharge any Indebtedness incurred pursuant to this clause (11)), measured as of the date of the
incurrence of any such Indebtedness (after giving pro forma effect to the application of the proceeds therefrom), taken together
with the amount of all Attributable Debt of the Company and its Restricted Subsidiaries at that time outstanding relating to Sale
and Leaseback Transactions permitted under Section 4.11 not to exceed 15% of the Consolidated Net Tangible Assets of the Company
measured as of the date any such Indebtedness is incurred (after giving pro forma effect to the application of the proceeds therefrom
and any transaction in connection with which such Indebtedness is being incurred).

 

For purposes of the foregoing clauses (10)
and (11), (a) with respect to any revolving credit facility secured by a Lien, the full amount of Indebtedness that may be
borrowed thereunder may, at the Company’s election, be deemed to be incurred at the time any revolving credit commitment
thereunder is first extended or increased and will not be deemed to be incurred when such revolving credit facility is drawn upon
and (b) if a Lien by the Company or any of its Restricted Subsidiaries is granted to secure Indebtedness that was previously
unsecured, such Indebtedness will be deemed to be incurred as of the date such Indebtedness is secured.

 

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

 

“Principal Property”
means any manufacturing plant or manufacturing facility owned by the Company or any of its Subsidiaries located within the continental
United States that has a net book value in excess of 1.5% of the Consolidated Net Tangible Assets of the Company. For purposes
of this definition, net book value will be measured at the time the relevant Lien is being created, at the time the relevant secured
Indebtedness is incurred or at the time the relevant Sale and Leaseback Transaction is entered into, as applicable.

 

“Rating Agency” means
(1) each of Moody’s, S&P and Fitch and (2) if any of Moody’s, S&P or Fitch ceases to rate the Notes or fails
to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized
statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company
as a replacement agency for Moody’s, S&P, or Fitch or each of them, as the case may be.

 

“Rating Date” means the
date that is 60 days prior to the earlier of (a) a Change of Control or (b) public notice of the occurrence of a Change of Control
or the intention by the Company to affect a Change of Control.

 

“Ratings Event” means
the occurrence of the events described in (1) or (2) of this definition on, or within 60 days after the earlier of, (i) the occurrence
of a Change of Control or (ii) public notice of the occurrence of a Change of Control or the intention by the Company to effect
a Change of Control (which period shall be extended so long as the rating of the Notes is under publicly announced consideration
for a possible downgrade by any of the Rating Agencies, provided that no such extension shall occur if on such 60th day
the Notes are rated Investment Grade by at least one of the Rating Agencies and the rating is not under publicly announced consideration
for a possible downgrade by such Rating Agency):

 

(1)               
if the Notes are rated by any of the Rating Agencies on the Rating Date as Investment Grade, the rating of the Notes shall
be reduced so that the Notes are rated below Investment Grade by each of the Rating Agencies and each Rating Agency making the
reduction publicly confirms or informs the Company in writing at its request that the reduction was the result, in whole or in
part, of any event or circumstance comprised of or arising as a result of, the applicable Change of Control (whether or not the
applicable Change of Control shall have occurred); or

 

(2)               
if the Notes are rated below Investment Grade by each Rating Agency on the Rating Date, the rating of the Notes shall remain
rated below Investment Grade by each Rating Agency.

 

    10

     

    

 

“Responsible Officer”
when used with respect to the Trustee, means any officer within the corporate trust department of the Trustee, including any vice
president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee
who customarily performs functions similar to those performed by the persons who at the time will be such officers, respectively,
or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular
subject and who will have direct responsibility for the administration of this Supplemental Indenture.

 

“Restricted Subsidiary”
means any Domestic Subsidiary (other than any receivables securitization entity).

 

“S&P” means S&P
Global Ratings Inc., a division of S&P Global Inc., and its successors.

 

“SEC” means the Securities
and Exchange Commission.

 

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

 

“Significant Subsidiary”
means any Subsidiary that would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X,
promulgated pursuant to the Securities Act, as such Regulation is in effect on the date of this Supplemental Indenture.

 

“Stated Maturity” means,
with respect to any installment of interest or principal on any series of Indebtedness, the date on which the payment of interest
or principal was scheduled to be paid in the original documentation governing such Indebtedness, and will not include any contingent
obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment
thereof.

 

“Subsidiary” means, with
respect to any specified Person:

 

(1)               
any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital
Stock entitled, without regard to the occurrence of any contingency, to vote in the election of directors, managers or trustees
thereof is at the time owned or controlled, directly or indirectly, by such Person; and

 

(2)               
any partnership (a) the sole general partner or the managing general partner of which is such Person or an entity described
in clause (1) and related to such Person or (b) the only general partners of which are such Person or one or more entities
described in clause (1) and related to such Person, or any combination thereof.

 

For the avoidance of doubt, Rocky Mountain Metal Container LLC
will not be deemed to be a Subsidiary of the Company for so long as the Company’s ownership percentage of the Voting Stock
(measured by voting power) of the applicable entity as of the date of the Supplemental Indenture does not materially increase.

 

“Supplemental Indenture”
means this Thirteenth Supplemental Indenture, dated as of the date hereof, by and among the Company, the Guarantors and the Trustee,
governing the Notes, as amended, supplemented or otherwise modified from time to time in accordance with the Base Indenture and
the terms hereof.

 

“TIA” means the Trust
Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) as in effect on the date on which this Supplemental Indenture is qualified
under the TIA.

 

“Voting Stock” of any
specified Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of
the Board of Directors of such Person.

 

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		Section	1.02       
                                         Other Definitions.

 

	Term	 	Defined in
 Section	 
	“Applicable Law”	 	 	2.15	 
	“Authentication Order”	 	 	2.02	 
	“Calculation Date”	 	 	1.01	 
	“Change of Control Offer”	 	 	4.09	 
	“Change of Control Payment”	 	 	4.09	 
	“Change of Control Payment Date”	 	 	4.09	 
	“Comparable Treasury Issue”	 	 	3.07	 
	“Comparable Treasury Price”	 	 	3.07	 
	“Covenant Defeasance”	 	 	8.03	 
	“DTC”	 	 	2.03	 
	“Event of Default”	 	 	6.01	 
	“Independent Investment Banker”	 	 	3.07	 
	“Legal Defeasance”	 	 	8.02	 
	“Paying Agent”	 	 	2.03	 
	“Payment Default”	 	 	6.01	 
	“Reference Treasury Dealer”	 	 	3.07	 
	“Reference Treasury Dealer Quotations”	 	 	3.07	 
	“Registrar”	 	 	2.03	 
	“Sale and Leaseback Transaction”	 	 	4.11	 
	“Treasury Rate”	 	 	3.07	 

 

		Section	1.03       
                                         Incorporation by Reference of Trust Indenture Act.

 

Whenever this Supplemental Indenture refers
to a provision of the TIA, the provision is incorporated by reference in and made a part of this Supplemental Indenture.

 

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

 

“indenture securities”
means the Notes;

 

“indenture security holder”
means a Holder of a Note;

 

“indenture to be qualified”
means this Supplemental Indenture;

 

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

 

“obligor” on the Notes
and the Guarantees means the Company and the Guarantors, respectively, and any successor obligor upon the Notes and the Guarantees,
respectively.

 

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

 

		Section	1.04       
                                         Rules of Construction.

 

Unless the context otherwise requires:

 

(1)               
a term has the meaning assigned to it;

 

(2)               
an accounting term not otherwise defined herein has the meaning assigned to it in accordance with GAAP;

 

(3)               
“or” is not exclusive;

 

(4)               
words in the singular include the plural, and in the plural include the singular;

 

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(5)               
 provisions apply to successive events and transactions;

 

(6)               
references to sections of or rules under the Securities Act will be deemed to include substitute, replacement or successor
sections or rules adopted by the SEC from time to time;

 

(7)               
 “will” shall be interpreted to express a command; and

 

(8)               
references to sections of the Indenture refer to sections of this Supplemental Indenture.

 

		Section	1.05       
                                         Relationship with Base Indenture.

 

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

 

The Trustee accepts the amendment of the
Base Indenture effected by this Supplemental Indenture and agrees to execute the trust created by the Base Indenture as hereby
amended, but only upon the terms and conditions set forth in this Supplemental Indenture, including the terms and provisions defining
and limiting the liabilities and responsibilities of the Trustee in the performance of the trust created by the Base Indenture,
and without limiting the generality of the foregoing, the Trustee will not be responsible in any manner whatsoever for or with
respect to any of the recitals or statements contained herein, all of which recitals or statements are made solely by the Company
and the Guarantors, or for or with respect to (1) the validity or sufficiency of this Supplemental Indenture or any of the
terms or provisions hereof, (2) the proper authorization hereof by the Company and the Guarantors, (3) the due execution
hereof by the Company and the Guarantors or (4) the consequences (direct or indirect and whether deliberate or inadvertent)
of any amendment herein provided for, and the Trustee makes no representation with respect to any such matters.

 

ARTICLE
2.

THE NOTES

 

		Section	2.01       
                                         Form and Dating.

 

(a)                
General. The Notes and the Trustee’s certificate of authentication will be substantially in the form of Exhibit
A hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note will
be dated the date of its authentication. The Notes will be in denominations of $2,000 and integral multiples of $1,000 in excess
thereof.

 

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

 

(b)                Global
Notes. Notes issued in global form will be substantially in the form of Exhibit A attached hereto (including the
Global Note Legend thereon). Notes issued in definitive form will be substantially in the form of Exhibit A attached
hereto (but without the Global Note Legend thereon). Each Global Note will represent such of the outstanding Notes as will be
specified therein and each will provide that it will represent the aggregate principal amount of outstanding Notes from time
to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to
time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to
reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented thereby
will be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the
Holder thereof as  required by Section 2.06 hereof.

 

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		Section	2.02       
                                         Execution and Authentication.

 

One Officer will sign the Notes for the
Company and the Guarantees for the Guarantors by manual or facsimile signature or a signature by the means of an electronic transmission
(including a pdf). If an Officer whose signature is on a Note and/or a Guarantee no longer holds that office at the time such Note
and/or Guarantee is authenticated, such Note and/or Guarantee will nevertheless be valid.

 

A Note and/or a Guarantee will not be valid
until authenticated by the manual signature of the Trustee. The signature will be conclusive evidence that the Note or Guarantee,
as applicable, has been authenticated under this Supplemental Indenture.

 

The Trustee will, upon a written order of
the Company signed by one Officer (an “Authentication Order”), authenticate Notes and Guarantees for original
issue in accordance with this Supplemental Indenture, including any Additional Notes issued pursuant to Section 2.14 hereof.

 

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

 

		Section	2.03       
                                         Registrar and Paying Agent.

 

The Company will maintain an office or agency
where Notes may be presented for registration of transfer or for exchange (“Registrar”) and an office or agency
where Notes may be presented for payment (“Paying Agent”). The Registrar will keep a register of the Notes and
of their transfer and exchange. The Company may appoint one or more co-registrars and one or more additional paying agents. The
term “Registrar” includes any co-registrar and the term “Paying Agent” includes any additional paying agent.
The Company may change any Paying Agent or Registrar without notice to any Holder. The Company will notify the Trustee in writing
of the name and address of any Agent not a party to this Supplemental Indenture. If the Company fails to appoint or maintain another
entity as Registrar or Paying Agent, the Trustee will act as such. The Company or any of its Subsidiaries may act as Paying Agent
or Registrar.

 

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

 

The Company initially appoints the Trustee
to act as the Registrar and Paying Agent and to act as Custodian with respect to the Global Notes.

 

		Section	2.04       
                                         Paying Agent to Hold Money in Trust.

 

The Company will require each Paying Agent
other than the Trustee to agree in writing that the Paying Agent will hold in trust for the benefit of Holders or the Trustee all
money held by the Paying Agent for the payment of principal, premium, if any, or interest on the Notes, and will notify the Trustee,
in writing, of any default by the Company in making any such payment. While any such default continues, the Trustee may require
a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money
held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary) will
have no further liability for the money. If the Company or a Subsidiary acts as Paying Agent, it will segregate and hold in a separate
trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings
relating to the Company, the Trustee will serve as Paying Agent for the Notes.

 

    14

     

    

 

		Section	2.05       
                                         Holder Lists.

 

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

 

		Section	2.06       
                                               Transfer and Exchange..

 

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

 

(1)               
the Company delivers to the Trustee notice from the Depositary that it is unwilling or unable to continue to act as Depositary
or that it is no longer a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not
appointed by the Company within 120 days after the date of such notice from the Depositary; or

 

(2)               
the Company in its sole discretion determines that the Global Notes (in whole but not in part) should be exchanged for Definitive
Notes and delivers a written notice to such effect to the Trustee.

 

Upon the occurrence of either of the preceding
events in (1) or (2) above, Definitive Notes will be issued in such names and in any approved denominations as the Depositary will
instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10
hereof. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to
this Section 2.06 or Section 2.07 or 2.10 hereof, will be authenticated and delivered in the form of, and will be, a Global Note.
A Global Note may not be exchanged for another Note other than as provided in this Section 2.06(a), however, beneficial interests
in a Global Note may be transferred and exchanged as provided in Sections 2.06(b), (c) or (g) hereof.

 

(b)          
Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests
in the Global Notes will be effected through the Depositary, in accordance with the provisions of this Supplemental Indenture and
the Applicable Procedures. Transfers of beneficial interests in the Global Notes also will require compliance with either subparagraph
(1) or (2) below, as applicable, as well as one or more of the other following subparagraphs, as applicable:

 

(1)               
Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Global Note may be transferred
to Persons who take delivery thereof in the form of a beneficial interest in a Global Note. No written orders or instructions will
be required to be delivered to the Registrar to effect the transfers described in this Section 2.06(b)(1).

 

(2)               
All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges
of beneficial interests that are not subject to Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver
to the Registrar either:

 

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

 

    15

     

    

 

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

 

(c)                
Transfer or Exchange of Beneficial Interests for Definitive Notes. If any holder of a beneficial interest in a Global
Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who
takes delivery thereof in the form of a Definitive Note, then, upon satisfaction of the conditions set forth in Section 2.06(b)(2)
hereof, the Trustee will cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant
to Section 2.06(g) hereof, and the Company will execute and the Trustee will authenticate and deliver to the Person designated
in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial
interest pursuant to this Section 2.06(c) will be registered in such name or names and in such authorized denomination or denominations
as the holder of such beneficial interest requests through instructions to the Registrar from or through the Depositary and the
Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the Persons in whose names such Notes are
so registered.

 

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

 

If any such exchange or transfer from a
Definitive Note to a beneficial interest is effected pursuant to the previous paragraph at a time when a Global Note has not yet
been issued, the Company will issue and, upon receipt of the Company’s order, the Trustee will authenticate one or more Global
Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred.

 

A Holder of Definitive Notes may transfer
such Notes to a Person who takes delivery thereof in the form of a Definitive Note.

 

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

 

(f)                 
Legends. The following legends will appear on the face of all Global Notes issued under this Supplemental Indenture
unless specifically stated otherwise in the applicable provisions of this Supplemental Indenture.

 

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

 

    16

     

    

 

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

 

(h)          
General Provisions Relating to Transfers and Exchanges.

 

(1)           
To permit registrations of transfers and exchanges, the Company will execute and the Trustee will authenticate Global Notes
and Definitive Notes upon the Company’s order or at the Registrar’s request.

 

(2)          
No service charge will be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note
for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax
or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge
payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 4.09 and 9.05 hereof).

 

(3)          
The Registrar will not be required to register the transfer of or exchange any Note selected for redemption in whole or
in part, except the unredeemed portion of any Note being redeemed in part.

 

(4)           
All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive
Notes will be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Supplemental
Indenture, as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

 

(5)          
The Company will not be required:

 

(A)              
to issue, to register the transfer of or to exchange any Notes during a period of 15 days before the day of any selection
of Notes for redemption under Section 3.02 hereof and ending at the close of business on the day of selection;

 

(B)              
to register the transfer of or to exchange any Note so selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part; or

 

    17

     

    

 

(C)              
 to register the transfer of or to exchange a Note between a record date and the next succeeding interest payment date.

 

(6)           
Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Company may deem
and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment
of principal of and interest on such Notes and for all other purposes, and none of the Trustee, any Agent or the Company will be
affected by notice to the contrary.

 

(7)          
The Trustee will authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.02 hereof.

 

(8)          
All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section
2.06 to effect a registration of transfer or exchange may be submitted by facsimile or electronic transmission (including a pdf).

 

(9)          
The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under this Supplemental Indenture or under applicable law with respect to any transfer of any interest in any
Note other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and
to do so if and when expressly required by the terms of, this Supplemental Indenture, and to examine the same to determine substantial
compliance as to form with the express requirements hereof.

 

(10)         
Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the Depositary.

 

		Section	2.07       
                                         Replacement Notes.

 

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

 

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

 

		Section	2.08       
                                         Outstanding Notes.

 

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

 

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

 

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

 

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

 

    18

     

    

 

		Section	2.09       
                                         Treasury Notes.

 

In determining whether the Holders of the
required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company, or by any Person
directly or indirectly controlling or controlled by or under direct or indirect common control with the Company, will be considered
as though not outstanding, except that for the purposes of determining whether the Trustee will be protected in relying on any
such direction, waiver or consent, only Notes that a Responsible Officer of the Trustee actually knows are so owned will be so
disregarded.

 

		Section	2.10       
                                         Temporary Notes.

 

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

 

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

 

		Section	2.11       
                                         Cancellation.

 

The Company at any time may deliver Notes
to the Trustee for cancellation.  The Registrar and Paying Agent will forward to the Trustee any Notes surrendered to them
for registration of transfer, exchange or payment.  The Trustee and no one else will cancel all Notes surrendered for registration
of transfer, exchange, payment, replacement or cancellation in accordance with its customary procedures and will return such canceled
Notes to the Company at the Company’s written request.  The Company may not issue new Notes to replace Notes that it
has paid or that have been delivered to the Trustee for cancellation.

 

		Section	2.12       
                                         Defaulted Interest.

 

If the Company defaults in a payment of
interest on the Notes, it will pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable
on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided
in the Notes and in Section 4.01 hereof.  The Company will notify the Trustee in writing of the amount of defaulted interest
proposed to be paid on each Note and the date of the proposed payment.  The Company will fix or cause to be fixed each such
special record date and payment date, provided that no such special record date will be less than 10 days prior to the related
payment date for such defaulted interest.  At least 15 days before the special record date, the Company (or, upon the written
request of the Company, the Trustee in the name and at the expense of the Company) will deliver or cause to be delivered to Holders
a notice that states the special record date, the related payment date and the amount of such interest to be paid.

 

		Section	2.13       
                                         CUSIP Number.

 

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

 

		Section	2.14       
                                         Issuance of Additional Notes.

 

The Company will be entitled, upon
delivery of an Officer’s Certificate and an Opinion of Counsel, to issue Additional Notes under this Supplemental
Indenture which will have identical terms as the Initial Notes issued on the date hereof, other than with respect to the date
of issuance and issue price.  The Initial Notes issued on the date hereof and any Additional Notes issued will be
treated as a single class for all purposes under this Supplemental Indenture.

 

    19

     

    

 

With respect to any Additional Notes, the
Company will set forth in a resolution of its Board of Directors and an Officer’s Certificate, a copy of each which will
be delivered to the Trustee, the following information:

 

(a)               
the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Supplemental
Indenture; and

 

(b)               
the issue price, the issue date and the CUSIP number of such Additional Notes.

 

		Section	2.15       
                                         FATCA.

 

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”) a foreign financial institution, issuer, trustee, paying agent, holder or other
institution that is or has agreed to be subject to the Supplemental Indenture, and the Company agrees (i) to the extent available
to such Person, to provide to the Trustee sufficient information about holders or other applicable parties and/or transactions
(including any modification to the terms of such transactions) so the Trustee can determine whether it has tax related obligations
under Applicable Law, (ii) that the Trustee shall be entitled to make any withholding or deduction from payments under the Supplemental
Indenture to the extent necessary to comply with Applicable Law for which the Trustee shall not have any liability. The terms of
this section shall survive the termination of this Supplemental Indenture.

 

ARTICLE
3.

REDEMPTION AND PREPAYMENT

 

		Section	3.01       
                                         Notice to Trustee.

 

If the Company elects to redeem Notes pursuant
to the redemption provisions of Section 3.07 hereof, it will furnish to the Trustee, at least 15 days but not more than 60 days
before a redemption date, an Officers’ Certificate setting forth:

 

(i)               
the provision of this Supplemental Indenture pursuant to which the redemption will occur;

 

(ii)              
the redemption date;

 

(iii)             
the principal amount of Notes to be redeemed;

 

(iv)             
the redemption price; and

 

(v)              
the CUSIP numbers of the Notes to be redeemed.

 

		Section	3.02       
                                         Selection of Notes to Be Redeemed.

 

If less than all of the Notes are to be
redeemed at any time, Depositary will select the Notes to be redeemed among the Holders of the Notes (a) in compliance with
the requirements of the principal national securities exchange, if any, on which the Notes are listed or, (b) if the Notes
are not so listed, on a pro rata basis (unless otherwise required by law or applicable stock exchange or depositary requirements). 
In the event of partial redemption by lot, the particular Notes to be redeemed will be selected, unless otherwise provided herein,
(a) in the case of Global Notes, in accordance with the Depositary’s Applicable Procedures or (b) in the case of Definitive
Notes, not less than 30 nor more than 60 days prior to the redemption date by the Trustee from the outstanding Notes not previously
called for redemption.

 

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

 

		Section	3.03       
                                         Notice of Redemption.

 

At least 15 days but not more than 60 days
before a redemption date, the Company will deliver or cause to be delivered a notice of redemption to each Holder whose Notes are
to be redeemed.

 

The notice will identify the Notes to be
redeemed, including the CUSIP numbers, and will state:

 

(1)               
the redemption date;

 

(2)               
the redemption price;

 

(3)               
if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the
redemption date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion will be issued
in the name of the Holder of such Notes upon cancellation of the original Note;

 

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

 

(5)               
that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

(6)               
that, unless the Company defaults in making such redemption payment, interest on Notes called for redemption ceases to accrue
on and after the redemption date;

 

(7)               
the paragraph of the Notes and/or Section of this Supplemental Indenture pursuant to which the Notes called for redemption
are being redeemed; and

 

(8)               
that no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed
on the Notes.

 

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

 

		Section	3.04       
                                         Effect of Notice of Redemption.

 

Once notice of redemption is delivered in
accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and payable on the redemption date at the
redemption price; provided, that any redemption of Notes pursuant to this Supplemental Indenture may, at the Company’s
discretion, be subject to one or more conditions precedent, including, but not limited to, completion of a sale of common stock
or other corporate transaction. In addition, if such redemption or notice is subject to satisfaction of one or more conditions
precedent, such notice shall state that, in the Company’s discretion, the redemption date may be delayed until such time
as any or all such conditions shall be satisfied (or waived by the Company in its sole discretion), or such redemption may not
occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied by the redemption
date, or by the redemption date so delayed and such redemption provisions may be adjusted to comply with the requirements of the
Depositary.

 

    21

     

    

 

		Section	3.05       
                                         Deposit of Redemption Price

 

One Business Day prior to the redemption
date, the Company will deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption price of and accrued
interest on all Notes to be redeemed on that date.  The Trustee or the Paying Agent will promptly return to the Company any
money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption price
of, and accrued interest on, all Notes to be redeemed.

 

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

 

		Section	3.06       
                                         Notes Redeemed in Part.

 

Upon surrender of a Note that is redeemed
in part, the Company will issue and, upon the Company’s written request, the Trustee will authenticate for the Holder at
the expense of the Company a new Note equal in principal amount to the unredeemed portion of the Note surrendered.

 

No Notes of $2,000 or less can be redeemed
in part.

 

		Section	3.07       
                                         Optional Redemption.

 

The Company may redeem the Notes at any
time in whole, or from time to time in part, prior to May 15, 2030 (three months prior to the maturity date of the Notes) (the
“Par Call Date”), at its option, at a redemption price equal to the greater of (1) 100% of the principal
amount of the Notes to be redeemed and (2) the sum of the present values of the remaining scheduled payments of principal
and interest on the Notes that would be due if such Notes matured on the Par Call Date discounted to the date of redemption (excluding
interest accrued to the date of redemption), on a semiannual basis, at a rate equal to the sum of the Treasury Rate plus 50 basis
points, plus in each case, any accrued and unpaid interest on the Notes to but excluding the date of redemption. The redemption
prices will be calculated assuming a 360-day year consisting of twelve 30-day months.

 

At any time on or after the Par Call Date,
the Company may redeem all or any of the Notes at any time in whole, or from time to time in part, at its option, at a redemption
price equal to 100% of the principal amount thereof, plus any accrued and unpaid interest on the Notes to, but excluding, the date
of redemption.

 

Notwithstanding the foregoing, installments
of interest on the Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable
on the interest payment date to the registered holders as of the close of business on the relevant record date according to the
Notes and this Supplemental Indenture.

 

For purposes of the foregoing, the
following definitions apply:

 

“Comparable Treasury Issue”
means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining
term (as measured from the date of redemption and assuming for this purpose that the Notes matured on the Par Call Date) of the
Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues
of corporate debt securities of comparable maturity to the remaining term of the Notes.

 

“Comparable Treasury
Price” means, with respect to any redemption date, (i) the average of the Reference Treasury Dealer Quotations
obtained by the Company for that redemption date, after excluding the highest and lowest of such Reference Treasury Dealer
Quotations, (ii) the Company is unable to obtain at least four such Reference Treasury Dealer Quotations, the average of all
Reference Treasury Dealer Quotations obtained by the Company, or (iii) if only one Reference Treasury Dealer Quotation is
received, such quotation.

 

    22

     

    

 

“Independent Investment Banker”
means Goldman Sachs & Co. LLC, or, if such firm is unwilling or unable to select the applicable Comparable Treasury Issue,
an independent investment banking institution of national standing appointed by the Company.

 

“Reference Treasury Dealer”
means (i) Goldman Sachs & Co. LLC (or its affiliates that are Primary Treasury Dealers) and their respective successors; provided,
however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a “Primary
Treasury Dealer”), the Company may substitute another institution to act as a Primary Treasury Dealer, and (ii) at least
two other Primary Treasury Dealers selected by the Company.

 

“Reference Treasury Dealer Quotations”
means, with respect to each Reference Treasury Dealer and any redemption date for the Notes, an average, as determined by the Company,
of the bid and asked prices for the Comparable Treasury Issue for the Notes, expressed in each case as a percentage of its principal
amount, quoted in writing to the Company by the Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business
Day preceding the redemption date.

 

“Treasury Rate” means,
with respect to any redemption date applicable to the Notes, the rate per annum equal to the semi-annual equivalent yield to maturity,
computed as of the third Business Day immediately preceding the redemption date, of the Comparable Treasury Issue, assuming a price
for the Comparable Treasury Issue, expressed as a percentage of its principal amount, equal to the applicable Comparable Treasury
Price for the redemption date.

 

		Section	3.08       
                                         Mandatory Redemption.

 

The Company is not required to make any
mandatory redemption or sinking fund payments with respect to the Notes.

 

ARTICLE
4.

COVENANTS

 

		Section	4.01       
                                         Payment of Notes.

 

The Company or a Guarantor will pay or cause
to be paid the principal of, premium, if any, and interest on the Notes on the dates and in the manner provided in the Notes. 
Principal, premium, if any, and interest will be considered paid on the date due if the Paying Agent, if other than the Company
or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money deposited by the Company in immediately available
funds and designated for and sufficient to pay all principal, premium, if any, and interest then due.

 

The Company or a Guarantor will pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to the then
applicable interest rate on the Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding
under any Bankruptcy Law) on overdue installments of interest at the same rate to the extent lawful.

 

		Section	4.02       
                                         Maintenance of Office or Agency.

 

The Company will maintain an office or
agency (which may be an office of the Trustee or an affiliate of the Trustee, Registrar or co-registrar) where Notes may be
surrendered for registration of transfer or for exchange and where notices and demands to or upon the Company in respect of
the Notes and this Supplemental 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 fails to maintain
any such required office or agency or fails 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.

 

    23

     

    

 

The Company may also from time to time designate
one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from
time to time rescind such designations. 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.

 

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

 

		Section	4.03       
Reports.

 

(a)                
Whether or not required by the rules and regulations of the SEC, so long as any Notes are outstanding, the Company will
furnish to the Trustee and the Holders of Notes or cause the Trustee to furnish to the Holders of Notes (or file with the SEC for
public availability) within the time periods specified in the SEC’s rules and regulations (giving effect to applicable grace
periods):

 

(1)               
all quarterly and annual financial information that would be required to be contained in a filing with the SEC on Forms
10-Q and 10-K if the Company were required to file such Forms, including a “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” and, with respect to the annual information only, a report on the annual financial
statements by the Company’s independent registered public accountants; and

 

(2)               
all current reports that would be required to be filed with the SEC on Form 8-K if the Company were required to file such
reports.

 

In addition, whether or not required by
the rules and regulations of the SEC, the Company will file a copy of all such information and reports referred to in clauses (1)
and (2) above with the SEC for public availability within the time periods specified in the SEC’s rules and regulations (giving
effect to applicable grace periods), unless the SEC will not accept such a filing, and make such information available to securities
analysts and prospective investors upon request.  The Company will at all times comply with TIA Section 314(a).  Delivery
of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of
such will not constitute constructive notice of any information contained therein or determinable from information contained therein,
including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively
on Officers’ Certificates).

 

(b)               
For so long as any Notes remain outstanding, the Company and the Guarantors will furnish to the Holders and to securities
analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under
the Securities Act.

 

(c)                If
the Company is no longer subject to the periodic reporting requirements of the Exchange Act for any reason, the Company will nevertheless
continue filing the reports specified in the preceding paragraphs of this Section 4.03 with the SEC within the time periods specified
above that are applicable to a non-accelerated filer unless the SEC will not accept such a filing. The Company agrees that it will
not take any action for the purpose of causing the SEC not to accept any such filings. If, notwithstanding the foregoing, the SEC
will not accept the Company’s filings for any reason, the Company will post the reports referred to in the preceding paragraphs
on its website within the time periods that would apply if it was required to file those reports with the SEC.

 

		Section	4.04       
                                         Compliance Certificate.

 

(a)                 The
Company and each Guarantor (to the extent that such Guarantor is so required under the TIA) will deliver to the Trustee,
within 90 days after the end of each fiscal year, an Officers’ Certificate stating that a review of the activities of
the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers
with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this
Supplemental Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her
knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Supplemental
Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this
Supplemental Indenture (or, if a Default or Event of Default will have occurred, describing all such Defaults or Events of
Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto)
and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on
account of the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of
the event and what action the Company is taking or proposes to take with respect thereto.

 

    24

     

    

 

(b)               
So long as not contrary to the then current recommendations of the American Institute of Certified Public Accountants, the
year-end financial statements delivered pursuant to Section 4.03(a) above will be accompanied by a written statement of the Company’s
independent registered public accountants (who will be a firm of established national reputation) that in making the examination
necessary for certification of such financial statements, nothing has come to their attention that would lead them to believe that
the Company has violated any provisions of Article 4 or Article 5 hereof or, if any such violation has occurred, specifying the
nature and period of existence thereof, it being understood that such accountants will not be liable directly or indirectly to
any Person for any failure to obtain knowledge of any such violation.

 

(c)                
The Company will, so long as any of the Notes are outstanding, deliver to the Trustee, as soon as possible, but in no event
later than five days after any Officer becoming aware of any Default or Event of Default, an Officers’ Certificate specifying
such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto.

 

		Section	4.05       
Taxes.

 

The Company will pay, and will cause each
of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested
in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect
to the Holders of the Notes.

 

		Section	4.06       
                                         Stay, Extension and Usury Laws.

 

The Company and each of the Guarantors covenants
(to the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or
take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that
may affect the covenants or the performance of this Supplemental Indenture; and the Company and each of the Guarantors (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, by resort to any such law, 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 has been enacted.

 

		Section	4.07       
                                         Limitation on Liens.

 

The Company will not, nor will it permit
any of its Restricted Subsidiaries to, create, incur or assume any Lien (other than Permitted Liens) upon any Principal Property
or upon the Capital Stock or Indebtedness of any of its Subsidiaries, in each case to secure Indebtedness of the Company, any Subsidiary
of the Company or any other Person, without securing the Notes (together with, at the option of the Company, any other Indebtedness
of the Company or any Subsidiary ranking equally in right of payment with the Notes) equally and ratably with or, at the option
of the Company, prior to, such other Indebtedness for so long as such other Indebtedness is so secured. Any Lien that is granted
to secure the Notes under this Section 4.07 shall be automatically released and discharged at the same time as the release of the
Lien that gave rise to the obligation to secure the Notes under this Section 4.07.

 

    25

     

    

 

		Section	4.08       
                                         Corporate
                                         Existence.

 

Subject to Articles 5 and 10 hereof, the
Company will do or cause to be done all things necessary to preserve and keep in full force and effect (i) its corporate existence,
and the corporate, partnership or other existence of each of its Subsidiaries with $20.0 million of net sales in the most recent
twelve month period or assets of $20.0 million, in accordance with the respective organizational documents (as the same may be
amended from time to time) and (ii) the rights (charter and statutory), licenses and franchises of the Company, its Subsidiaries
with $20.0 million of net sales in the most recent twelve month period or assets of $20.0 million; provided, however, that
the Company will not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence
of any of its Subsidiaries, if the Board of Directors will determine that the preservation thereof is no longer desirable in the
conduct of the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any
material respect to the Holders of the Notes.

 

		Section	4.09       
                                         Offer to Purchase Upon Change of Control Repurchase Event.

 

(a)                
If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to redeem the Notes as described
in Section 3.07 hereof within 60 days after the Change of Control, the Company will make an offer (a “Change of Control
Offer”) to each Holder of Notes to repurchase all or any part, equal to $2,000 or an integral multiple of $1,000 in excess
thereof, of that Holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of the Notes
repurchased, plus any accrued and unpaid interest on the Notes repurchased to but excluding the date of repurchase (the “Change
of Control Payment”).  Within 30 days following any Change of Control Repurchase Event, or, at the Company’s
option, prior to the consummation of the Change of Control transaction but after the public announcement thereof, the Company will
send a notice to each Holder describing the transaction or transactions that constitutes the Change of Control and offering to
repurchase Notes on the date specified in such notice (the “Change of Control Payment Date”), which date will
be no earlier than 15 days and no later than 60 days from the date such notice is sent, pursuant to the procedures required by
this Supplemental Indenture and described in such notice. If sent prior to the date of consummation of the Change of Control transaction,
the notice will state that the Change of Control Offer is conditioned on a Change of Control Repurchase Event occurring prior to
the Change of Control Payment Date. The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the
repurchase of the Notes as a result of a Change of Control Repurchase Event.  To the extent that the provisions of any securities
laws or regulations conflict with the Change of Control Repurchase Event provisions of this Supplemental Indenture, the Company
will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the
Change of Control Repurchase Event provisions of this Supplemental Indenture by virtue of such compliance.

 

(b)               
On the Change of Control Payment Date, the Company will, to the extent lawful,

 

(1)               
accept for payment all Notes or portions of the Notes (equal to $2,000 or an integral multiple of $1,000 in excess thereof)
properly tendered pursuant to a Change of Control Offer;

 

(2)               
deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of the
Notes properly tendered; and

 

(3)               
deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate
stating the aggregate principal amount of Notes or portions of the Notes being repurchased by the Company.

 

The Paying Agent will promptly deliver to
each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate
and mail, or cause to be transferred by book entry, to each Holder a new Note equal in principal amount to any unpurchased portion
of the Notes surrendered, if any; provided that each new Note will be in a principal amount of $2,000 or an integral multiple
of $1,000 in excess thereof.

 

    26

     

    

 

Except as described above with respect to
a Change of Control, this Supplemental Indenture does not contain provisions that permit the Holders of the Notes to require that
the Company repurchase or redeem the Notes in the event of a takeover, recapitalization or similar transaction.

 

(c)                
Notwithstanding anything to the contrary in this Section 4.09, the Company will not be required to make a Change of Control
Offer upon a Change of Control Repurchase Event if (1) a third party makes the Change of Control Offer in the manner, at the times
and otherwise in compliance with the requirements set forth in this Supplemental Indenture applicable to a Change of Control Offer
made by the Company and purchases all Notes properly tendered and not withdrawn under the Change of Control Offer, or (2) notice
of redemption has been given pursuant to Section 3.07, unless and until there is a default in payment of the applicable redemption
price.

 

(d)               
 If Holders of not less than 90% in aggregate principal amount of the outstanding Notes validly tender and do not withdraw
such Notes in a Change of Control Offer and the Company, or any third party making a Change of Control Offer in lieu of the Company
as described above, purchases all of the Notes validly tendered and not withdrawn by such Holders, the Company or such third party
will have the right, upon not less than 10 days nor more than 60 days’ prior notice, provided that such notice is given not
more than 30 days following such purchase pursuant to the Change of Control Offer described above, to redeem all Notes that remain
outstanding following such purchase on a date (the “Second Change of Control Payment Date”) at a price in cash
equal to 101% of the aggregate principal amount of such Notes repurchased plus any accrued and unpaid interest on the Notes repurchased
to, but excluding, the Second Change of Control Payment Date.

 

		Section	4.10       
                                         Additional Guarantees.

 

If the Company or any of its Subsidiaries
acquires or creates another Domestic Subsidiary that is a Restricted Subsidiary after the date of this Supplemental Indenture and
such newly acquired or created Domestic Subsidiary Guarantees (or is a guarantor of) any other Indebtedness of the Company, then
that newly acquired or created Domestic Subsidiary will become a Guarantor and execute and deliver a supplemental indenture in
the form of Exhibit B within 20 Business Days of the date on which it was acquired or created or such later date on which
it guarantees (or is a guarantor of) such other Indebtedness of the Company; provided, that this Section 4.10 does not apply
to any Excluded Subsidiary for so long as it continues to constitute an Excluded Subsidiary.

 

		Section	4.11       
                                         Sale and Leaseback Transactions.

 

(a)                
The Company will not, nor will it permit any of its Restricted Subsidiaries to, enter into any arrangement with any other
Person pursuant to which the Company or any of its Restricted Subsidiaries leases any Principal Property that has been or is to
be sold or transferred by the Company or the Restricted Subsidiary to such other Person (a “Sale and Leaseback Transaction”),
except that a Sale and Leaseback Transaction is permitted if the Company or such Restricted Subsidiary would be entitled to incur
Indebtedness secured by a Lien on the Principal Property to be leased, without equally and ratably securing the Notes, in an aggregate
principal amount equal to the Attributable Debt with respect to such Sale and Leaseback Transaction.

 

(b)               
In addition, the following Sale and Leaseback Transactions are not subject to the limitations of Section 4.11(a) and Section
4.07:

 

(1)               
temporary leases for a term, including renewals at the option of the lessee, of not more than three years;

 

(2)               
leases between only the Company and a Subsidiary of the Company or only between Subsidiaries of the Company;

 

(3)                leases
where the proceeds from the sale of the subject property are at least equal to the fair market value (as determined in good
faith by the Company) of the subject property and the Company applies an amount equal to the net proceeds of the sale to the
retirement of long term Indebtedness or the purchase, construction, development, expansion or improvement of other property
or equipment used or useful in its business, within 270 days of the effective date of such sale; provided that in lieu of
applying such amount to the retirement of long-term Indebtedness, the Company may deliver Notes or other debt securities to
the Trustee for cancellation; and

 

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(4)               
leases of property executed by the time of, or within 270 days after the latest of, the acquisition, the completion of construction,
development, expansion or improvement, or the commencement of commercial operation, of the subject property.

 

 

ARTICLE
5.

SUCCESSORS

 

		Section	5.01       
                                         Merger, Consolidation or Sale of Assets.

 

The Company will not, directly or indirectly:
(1) consolidate or merge with or into another Person, or (2) sell, assign, transfer, convey or otherwise dispose of all
or substantially all of the properties or assets of the Company and its Subsidiaries, taken as a whole, in one or more related
transactions, to another Person unless:

 

(i)                 
either: (a) the Company is the surviving corporation; or (b) the Person formed by or surviving any such consolidation
or merger, if other than the Company, or to which such sale, assignment, transfer, conveyance or other disposition has been made
is either a corporation organized or existing under the laws of the United States, any state of the United States or the District
of Columbia or, if such Person is not a corporation, a co-obligor of the Notes that is a corporation organized or existing under
any such laws is added;

 

(ii)               
the Person formed by or surviving any such consolidation or merger, if other than the Company, or the Person to which such
sale, assignment, transfer, conveyance or other disposition will have been made assumes all the obligations of the Company under
the Notes and this Supplemental Indenture pursuant to agreements reasonably satisfactory to the Trustee; and

 

(iii)             
immediately after such transaction no Default or Event of Default exists.

 

The provisions of this Section 5.01 will not apply to a merger,
consolidation, sale, assignment, transfer, conveyance or other disposition of assets between or among the Company and its Subsidiaries.

 

		Section	5.02       
                                         Successor Corporation Substituted.

 

Upon any consolidation or merger, or any
sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the assets of the Company in
accordance with Section 5.01 hereof, the successor corporation formed by such consolidation or into or with which the Company is
merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made will succeed to, and be substituted
for (so that from and after the date of such consolidation, merger, sale, lease, conveyance or other disposition, the provisions
of this Supplemental Indenture referring to the “Company” will refer instead to the successor corporation and not to
the Company), and may exercise every right and power of the Company under this Supplemental Indenture with the same effect as if
such successor Person had been named as the Company herein; provided, however, that the predecessor Company will not be
relieved from the obligation to pay the principal of and interest on the Notes except in the case of a sale of all of the Company’s
assets that meets the requirements of Section 5.01 hereof.

 

ARTICLE
6.

DEFAULTS AND REMEDIES

 

		Section	6.01       
                                         Events of Default.

 

Each of the following is an “Event
of Default:”

 

(a)                
 default for 30 days in the payment when due of interest on the Notes;

 

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(b)               
 default in the payment when due of the principal of or premium, if any, on the Notes;

 

(c)                
the Company fails for 30 days after notice specifying the default from the Trustee or the Holders of at least 25% of the
aggregate principal amount of the Notes then outstanding to comply with the provisions of Section 4.09 hereof;

 

(d)               
the Company or any of its Subsidiaries fails for 60 days after notice specifying the default from the Trustee or the Holders
of at least 25% of the aggregate principal amount of the Notes then outstanding to comply with any of the other agreements in this
Supplemental Indenture or the Notes;

 

(e)                
the Company or any of its Subsidiaries (other than a receivables securitization entity) defaults under any Indebtedness
for money borrowed by the Company or any of its Subsidiaries (other than a receivables securitization entity) (or the payment of
which is guaranteed by the Company or any of its Subsidiaries (other than a receivables securitization entity)) whether such Indebtedness
or guarantee now exists, or is created after the date of this Supplemental Indenture, if that default:

 

(1)               
is caused by a failure to pay principal on such Indebtedness at its final stated maturity (or on or before the expiration
of any grace period provided in such Indebtedness on the date of such default) (a “Payment Default”); or

 

(2)               
results in the acceleration of such Indebtedness prior to its express maturity;

 

and in each case, (i) the principal amount of any such Indebtedness,
together with the principal amount of any other such Indebtedness under which there is a Payment Default or the maturity of which
has been so accelerated, aggregates $75.0 million or more or its foreign currency equivalent and (ii) the Company has received
notice specifying the default from the Trustee or Holders of at least 25% of the aggregate principal amount of Notes then outstanding
and thereafter does not cure the default within 30 days;

 

(f)                 
the Company or any of its Subsidiaries fails to pay final judgments aggregating in excess of $75.0 million or its foreign
currency equivalent, excluding amounts covered by insurance, which judgments are not paid, discharged or stayed for a period of
60 days;

 

(g)               
any Guarantee of a Significant Subsidiary is held in any judicial proceeding to be unenforceable or invalid or ceases for
any reason to be in full force and effect, or any Guarantor that is a Significant Subsidiary, or any Person acting on behalf of
any Guarantor that is a Significant Subsidiary, denies or disaffirms its obligations under its Guarantee, in each case except as
permitted by this Supplemental Indenture.

 

(h)               
the Company or any of its Subsidiaries that is a Significant Subsidiary pursuant to or within the meaning of Bankruptcy
Law:

 

(i)                 
commences a voluntary case,

 

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

 

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

 

(iv)              
makes a general assignment for the benefit of its creditors,

 

(v)               
generally is not paying its debts as they become due; or

 

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

 

(i)                
is for relief against the Company or any of its Significant Subsidiaries in an involuntary case;

 

(ii)               
 appoints a custodian of the Company or any of its Significant Subsidiaries for all or substantially all of the property
of the Company or any of its Significant Subsidiaries; or

 

(iii)             
orders the liquidation of the Company or any of its Significant Subsidiaries; and

 

the order or decree remains unstayed
and in effect for 60 consecutive days.

 

		Section	6.02       
                                         Acceleration.

 

If any Event of Default (other than an Event
of Default specified in clause (h) or (i) of Section 6.01 hereof) with respect to the Company or any Significant Subsidiary occurs
and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Notes may declare all
the Notes to be due and payable immediately.  Upon any such declaration, the Notes will become due and payable immediately. 
Notwithstanding the foregoing, if an Event of Default specified in clause (h) or (i) of Section 6.01 hereof occurs with respect
to the Company or any of its Significant Subsidiaries, all outstanding Notes will be due and payable without further action or
notice.  Holders of the Notes may not enforce this Supplemental Indenture or the Notes except as provided in this Supplemental
Indenture.

 

In the case of any Event of Default occurring
by reason of any willful action (or inaction) taken (or not taken) by or on behalf of the Company with the intention of avoiding
payment of the premium that the Company would have had to pay if the Company then had elected to redeem the Notes pursuant to the
optional redemption provisions of this Supplemental Indenture, an equivalent premium will also become and be immediately due and
payable to the extent permitted by law upon the acceleration of the Notes.

 

The Company is required to deliver to the
Trustee annually a statement regarding compliance with this Supplemental Indenture, and the Company is required upon becoming aware
of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

 

		Section	6.03       
                                         Other Remedies.

 

If an Event of Default occurs and is continuing,
the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and interest on the Notes or
to enforce the performance of any provision of the Notes or this Supplemental Indenture.

 

The Trustee may maintain a proceeding even
if it does not possess any of the Notes or does not produce any of them in the proceeding.  A delay or omission by the Trustee
or any Holder of a Note in exercising any right or remedy accruing upon an Event of Default will not impair the right or remedy
or constitute a waiver of or acquiescence in the Event of Default.  All remedies are cumulative to the extent permitted by
law.

 

		Section	6.04       
                                         Waiver of Past Defaults.

 

The Holders of a majority in aggregate principal
amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing
Default or Event of Default and its consequences under this Supplemental Indenture except a continuing Default or Event of Default
in the payment of interest on, or the principal of, the Notes (including in connection with an offer to purchase); provided,
however, that the Holders of a majority in aggregate principal amount of the then outstanding Notes may rescind an acceleration
and its consequences, including any related payment default that resulted from such acceleration.  Upon any such waiver, such
Default or Event of Default will cease to exist, and any Event of Default arising therefrom will be deemed to have been cured for
every purpose of this Supplemental Indenture; but no such waiver will extend to any subsequent or other Default or Event of Default
or impair any right consequent thereon.

 

		Section	6.05       
                                         Control by Majority.

 

Holders of a majority in aggregate
principal amount of the then outstanding Notes may direct the time, method and place of conducting any proceeding for
exercising any remedy available to the Trustee or exercising any trust or power conferred on it.  However, the Trustee
may refuse to follow any direction that conflicts with law or this Supplemental Indenture that the Trustee determines may be
unduly prejudicial to the rights of other Holders of Notes or that may involve the Trustee in personal liability.

 

    30

     

    

 

		Section	6.06       
                                         Limitation on Suits.

 

A Holder of a Note may pursue a remedy with
respect to this Supplemental Indenture or the Notes only if:

 

(a)                
the Holder of a Note gives to the Trustee written notice of a continuing Event of Default;

 

(b)               
the Holders of at least 25% in principal amount of the then outstanding Notes make a written request to the Trustee to pursue
the remedy;

 

(c)                
such Holder of a Note or Holders of Notes offer and, if requested, provide to the Trustee security or indemnity satisfactory
to the Trustee against any loss, liability or expense;

 

(d)               
the Trustee does not comply with the request within 60 days after receipt of the request and the offer and, if requested,
the provision of such security or indemnity; and

 

(e)                
during such 60-day period the Holders of a majority in aggregate principal amount of the then outstanding Notes do not give
the Trustee a direction inconsistent with the request.

 

A Holder of a Note may not use this Supplemental
Indenture to prejudice the rights of another Holder of a Note or to obtain a preference or priority over another Holder of a Note
(it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances
are unduly prejudicial to any Holder).

 

		Section	6.07       
                                         Rights of Holders of Notes to Receive Payment.

 

Notwithstanding any other provision of this
Supplemental Indenture, the right of any Holder of a Note to receive payment of principal, premium and interest on the Note, on
or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for
the enforcement of any such payment on or after such respective dates, will not be impaired or affected without the consent of
such Holder.

 

		Section	6.08       
                                         Collection Suit by Trustee.

 

If an Event of Default specified in Section
6.01(a) or (b) occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as Trustee of an express
trust against the Company for the whole amount of principal of, premium, if any, and interest remaining unpaid on the Notes and
interest on overdue principal and, to the extent lawful, interest and such further amount as will 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.

 

		Section	6.09       
                                         Trustee May File Proofs of Claim.

 

The Trustee is authorized to file such
proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee
(including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Company (or any other obligor upon
the Notes), its creditors or its property and will be entitled and empowered to collect, receive and distribute any money or
other property payable or deliverable on any such claims and any custodian in any such judicial proceeding is hereby
authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee will consent to the making
of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.07 hereof.  To the extent that the payment of any such compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in any
such proceeding, will be denied for any reason, payment of the same will be secured by a Lien on, and will be paid out of,
any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in
such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise.  Nothing herein
contained will 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 Notes or the rights of any Holder, or to
authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

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		Section	6.10       
                                         Priorities.

 

If the Trustee collects any money pursuant
to this Article, it will pay out the money in the following order:

 

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

 

Second:  to Holders
of Notes for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably, without preference or priority
of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest, respectively;
and

 

Third:  to the Company.

 

The Trustee may fix a record date and payment
date for any payment to Holders of Notes pursuant to this Section 6.10.

 

		Section	6.11       
                                         Undertaking for Costs.

 

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

 

ARTICLE
7.

TRUSTEE

 

		Section	7.01       
                                         Duties of Trustee.

 

(a)                
If an Event of Default has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in
it by this Supplemental Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise
or use under the circumstances in the conduct of his or her own affairs.

 

(b)               
Except during the continuance of an Event of Default:

 

(i)                 
the duties of the Trustee will be determined solely by the express provisions of this Supplemental Indenture and the Trustee
need perform only those duties that are specifically set forth in this Supplemental Indenture and no others, and no implied covenants
or obligations will be read into this Supplemental Indenture against the Trustee; and

 

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

 

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(c)                
The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its
own willful misconduct, except that:

 

(i)                
this paragraph does not limit the effect of paragraph (b) of this Section;

 

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

 

(iii)             
the Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction
received by it pursuant to Section 6.05 hereof.

 

(d)               
Whether or not therein expressly so provided, every provision of this Supplemental Indenture that in any way relates to
the Trustee is subject to paragraphs (a), (b), (c), (e) and (f) of this Section and Section 7.02.

 

(e)                
No provision of this Supplemental Indenture will require the Trustee to expend or risk its own funds or incur any liability. 
The Trustee will be under no obligation to exercise any of its rights and powers under this Supplemental Indenture at the request
of any Holders, unless such Holders will have offered to the Trustee security and indemnity satisfactory to it against any loss,
liability, cost or expense that might be incurred by it in compliance with such request or direction.

 

(f)                 
The Trustee will not be liable for interest on any money received by it except as the Trustee may agree in writing with
the Company.  Money held in trust by the Trustee need not be segregated from other funds except to the extent required by
law.

 

		Section	7.02       
                                         Rights of Trustee.

 

(a)                
The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by
the proper Person.  The Trustee need not investigate any fact or matter stated in the document.

 

		(b)	Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or
both.  The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officers’
Certificate or Opinion of Counsel.  The Trustee may consult with counsel of its selection and the advice of such counsel or
any Opinion of Counsel will be full and complete authorization and protection from liability in respect of any action taken, suffered
or omitted by it hereunder in good faith and in reliance thereon.

 

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

 

(d)               
The Trustee will not be liable for any action it takes or omits to take in good faith that it believes to be authorized
or within the rights or powers conferred upon it by this Supplemental Indenture.

 

(e)                
Unless otherwise specifically provided in this Supplemental Indenture, any demand, request, direction or notice from the
Company or any Guarantor will be sufficient if signed by an Officer of the Company or Guarantor issuing such demand, request or
notice.

 

(f)                  Whenever
in the administration of this Supplemental Indenture, the Trustee will 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, in the absence of bad faith on its part, conclusively rely upon an Officers’
Certificate.

 

    33

     

    

 

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

 

(h)               
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, 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.

 

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

 

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

 

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

 

		Section	7.03       
                                         Individual Rights of Trustee.

 

The Trustee in its individual or any other
capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any Affiliate of the Company with
the same rights it would have if it were not Trustee.  However, in the event the Trustee acquires any conflicting interest
it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as Trustee (if this Supplemental Indenture
has been qualified under the Trust Indenture Act) or resign.  Any Agent may exercise the same rights, with the same duties,
as the Trustee under this Section 7.03.  The Trustee is also subject to Sections 7.10 and 7.11 hereof.

 

		Section	7.04       
                                         Trustee’s Disclaimer.

 

The Trustee will not be responsible for
and makes no representation as to the validity or adequacy of this Supplemental Indenture or the Notes, it will not be accountable
for the Company’s use of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction
under any provision of this Supplemental Indenture, it will not be responsible for the use or application of any money received
by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement
in the Notes or any other document in connection with the sale of the Notes or pursuant to this Supplemental Indenture other than
its certificate of authentication.

 

		Section	7.05       
                                         Notice of Defaults.

 

If a Default or Event of Default
occurs and is continuing and if it is actually known to a Responsible Officer of the Trustee, the Trustee will mail to
Holders of Notes a notice of the Default or Event of Default within 90 days after it occurs.  Except in the case of a
Default or Event of Default relating to the payment of principal of or interest on any Note, the Trustee may withhold the
notice from Holders of the Notes if and so long as a committee of its Responsible Officers in good faith determines that
withholding the notice is in the interests of the Holders of the Notes.

 

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		Section	7.06       
                                         Reports by Trustee to Holders of the Notes.

 

Within 60 days after each January 1 beginning
with the January 1 following the date of this Supplemental Indenture, and for so long as Notes remain outstanding, the Trustee
will mail to the Holders of the Notes a brief report dated as of such reporting date that complies with TIA Section 313(a) (but
if no event described in TIA Section 313(a) has occurred within the twelve months preceding the reporting date, no report need
be transmitted).  The Trustee also will comply with TIA Section 313(b)(2).  The Trustee will also deliver all reports
as required by TIA Section 313(c).

 

A copy of each report at the time of its
delivery to the Holders of Notes will be delivered to the Company and filed with the SEC and each stock exchange on which the Notes
are listed in accordance with TIA Section 313(d).  The Company will promptly notify the Trustee when the Notes are listed
on any stock exchange or delisted therefrom.

 

		Section	7.07       
                                         Compensation and Indemnity.

 

The Company and the Guarantors will pay
to the Trustee from time to time such reasonable compensation as agreed upon in writing for its acceptance of this Supplemental
Indenture and services hereunder.  The Trustee’s compensation will not be limited by any law on compensation of a Trustee
of an express trust.  The Company and the Guarantors will reimburse the Trustee promptly upon request for all reasonable disbursements,
advances and expenses incurred or made by it in addition to the compensation for its services.  Such expenses will include
the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel.

 

The Company and the Guarantors will, jointly
and severally, indemnify the Trustee against any and all losses, liabilities, claims, damages or expenses (including taxes other
than taxes based upon the income of the Trustee) incurred by it arising out of or in connection with the acceptance or administration
of its duties under this Supplemental Indenture, including the costs and expenses of enforcing this Supplemental Indenture against
the Company and the Guarantors (including this Section 7.07) and defending itself against any claim (whether asserted by the Company
and the Guarantors or any Holder or any other person) or liability in connection with the exercise or performance of any of its
powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its negligence or willful
misconduct.  The Trustee will notify the Company promptly of any claim for which it may seek indemnity.  Failure by the
Trustee to so notify the Company will not relieve the Company and the Guarantors of its obligations hereunder.  The Company
will defend the claim and the Trustee will cooperate in the defense.  The Trustee may have separate counsel and the Company
will pay the reasonable fees and expenses of such counsel.  The Company need not pay for any settlement made without its consent,
which consent will not be unreasonably withheld.

 

The obligations of the Company and the Guarantors
under this Section 7.07 shall be joint and several and will survive the satisfaction and discharge of this Supplemental Indenture.

 

To secure the Company’s and the Guarantors’
payment obligations in this Section, the Trustee will have a Lien prior to the Notes on all money or property held or collected
by the Trustee, except that held in trust to pay principal and interest on particular Notes.  Such Lien will survive the satisfaction
and discharge of this Supplemental Indenture.

 

When the Trustee incurs expenses or renders
services after an Event of Default specified in Section 6.01(g) or (h) hereof occurs, the expenses and the compensation for the
services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under
any Bankruptcy Law.

 

The Trustee will comply with the provisions
of TIA Section 313(b)(2) to the extent applicable.

 

    35

     

    

 

		Section	7.08       
                                         Replacement of Trustee.

 

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

 

The Trustee may resign in writing at any
time and be discharged from the trust hereby created by so notifying the Company.  The Holders of Notes of a majority in aggregate
principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in writing. 
The Company may remove the Trustee if:

 

(a)            
the Trustee fails to comply with Section 7.10 hereof;

 

(b)           
the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any
Bankruptcy Law;

 

(c)            
a custodian or public officer takes charge of the Trustee or its property; or

 

(d)           
the Trustee becomes incapable of acting.

 

If the Trustee resigns or is removed or
if a vacancy exists in the office of Trustee for any reason, the Company will promptly appoint a successor Trustee.  Within
one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding
Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company.

 

If a successor Trustee does not take office
within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company, or the Holders of Notes of
at least 10% in principal amount of the then outstanding Notes may petition at the expense of the Company any court of competent
jurisdiction for the appointment of a successor Trustee.

 

If the Trustee, after written request by
any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with Section 7.10, such Holder of
a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

 

A successor Trustee will deliver a written
acceptance of its appointment to the retiring Trustee and to the Company.  Thereupon, the resignation or removal of the retiring
Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this
Supplemental Indenture.  The successor Trustee will deliver a notice of its succession to Holders of the Notes.  The
retiring Trustee will promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing
to the Trustee (including its agents and/or counsel) hereunder have been paid and subject to the Lien provided for in Section 7.07
hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section
7.07 hereof will continue for the benefit of the retiring Trustee.

 

		Section	7.09       
                                         Successor Trustee by Merger, Etc. 

 

If the Trustee consolidates, merges or converts
into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation
without any further act will be the successor Trustee.

 

		Section	7.10       
                                         Eligibility; Disqualification.

 

There will at all times be a Trustee hereunder
that is a corporation organized and doing business under the laws of the United States of America or of any state thereof that
is authorized under such laws to exercise corporate Trustee power, that is subject to supervision or examination by federal or
state authorities and that has a combined capital and surplus of at least $100.0 million as set forth in its most recent published
annual report of condition.

 

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This Supplemental Indenture will always
have a Trustee who satisfies the requirements of TIA Section 310(a)(1), (2) and (5). The Trustee is subject to TIA Section 310(b).

 

		Section	7.11       
                                         Preferential Collection of Claims Against Company.

 

The Trustee is subject to TIA Section 311(a),
excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed will be subject to
TIA Section 311(a) to the extent indicated therein.

 

ARTICLE
8.

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

		Section	8.01       
                                         Option to Effect Legal Defeasance or Covenant Defeasance.

 

The Company may, at the option of its Board
of Directors evidenced by a resolution set forth in an Officers’ Certificate, at any time, elect to have either Section 8.02
or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8.

 

		Section	8.02       
                                         Legal Defeasance and Discharge.

 

Upon the Company’s exercise under
Section 8.01 hereof of the option applicable to this Section 8.02, the Company and the Guarantors will, subject to the satisfaction
of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from its obligations with respect to all
outstanding Notes and to have each Guarantor’s obligation discharged with respect to its Guarantee on the date the conditions
set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that
the Company and the Guarantors will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding
Notes, which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the other
Sections of this Supplemental Indenture referred to in (a) and (b) below, and to have satisfied all its other obligations under
such Notes and this Supplemental Indenture (and the Trustee, on demand of and at the expense of the Company, will execute proper
instruments acknowledging the same), except for the following provisions which will survive until otherwise terminated or discharged
hereunder:  (a) the rights of Holders of outstanding Notes to receive solely from the trust fund described in Section
8.04 hereof, and as more fully set forth in such Section, payments in respect of the principal of, interest on such Notes when
such payments are due, (b) the Company’s obligations with respect to the Notes under Article 2 and Section 4.02 hereof,
(c) the rights, powers, trusts, duties and immunities of the Trustee, and the Company’s and the Guarantors’ obligations
in connection therewith and (d) this Article 8. Subject to compliance with this Article 8, the Company may exercise its option
under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof.

 

		Section	8.03       
                                         Covenant Defeasance.

 

Upon the Company’s exercise
under Section 8.01 hereof of the option applicable to this Section 8.03, the Company and each Restricted Subsidiary will,
subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from their obligations under the
covenants contained in Sections 4.03, 4.07, 4.09, 4.10 and 4.11 and clause (iii) of Section 5.01 hereof with respect to the
outstanding Notes on and after the date the conditions set forth in Section 8.04 are satisfied (hereinafter,
“Covenant Defeasance”), and the Notes will thereafter be deemed not “outstanding” for the
purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in
connection with such covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it
being understood that such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant
Defeasance means that, with respect to the outstanding Notes, the Company, each Guarantor and each Restricted Subsidiary may
omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such
covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of
any reference in any such covenant to any other provision herein or in any other document and such omission to comply will
not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of
this Supplemental Indenture and such Notes will be unaffected thereby. In addition, upon the Company’s exercise under
Section 8.01 hereof of the option applicable to this Section 8.03 hereof, subject to the satisfaction of the conditions set
forth in Section 8.04 hereof, Sections 6.01(c) through 6.01(e) hereof will not constitute Events of Default.

 

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		Section	8.04       
                                         Conditions to Legal or Covenant Defeasance.

 

The following will be the conditions to
the application of either Section 8.02 or 8.03 hereof to the outstanding Notes:

 

In order to exercise either Legal Defeasance
or Covenant Defeasance:

 

(a)            
the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in United States dollars,
non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities in such amounts
as will be sufficient, in the written opinion of a nationally recognized investment bank, appraisal firm of independent public
accountants, to pay the principal of, or interest and premium on the outstanding Notes on the Stated Maturity or on the applicable
redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to maturity or to a particular
redemption date;

 

(b)           
in the case of an election under Section 8.02 hereof, the Company will have delivered to the Trustee an Opinion of Counsel
reasonably acceptable to the Trustee confirming 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 Supplemental Indenture, there has been a change in the applicable
U.S. federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel will confirm that, the
Holders of the outstanding Notes will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such
Legal Defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as
would have been the case if such Legal Defeasance had not occurred;

 

(c)            
in the case of an election under Section 8.03 hereof, the Company will have delivered to the Trustee an Opinion of Counsel
reasonably acceptable to the Trustee confirming that the Holders of the outstanding Notes will not recognize income, gain or loss
for U.S. federal income tax purposes as a result of such Covenant Defeasance and will be subject to U.S. federal income tax on
the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

 

(d)            
no Default or Event of Default will have occurred and be continuing on the date of such deposit, other than a Default or
Event of Default resulting from the incurrence of Indebtedness all or a portion of the proceeds of which will be used to defease
the Notes pursuant to this Article 8 concurrently with such incurrence, or insofar as Sections 6.01(h) or 6.01(i) hereof is concerned,
at any time in the period ending on the 91st day after the date of deposit (and any similar concurrent deposit relating to other
Indebtedness), and the granting of Liens to secure such borrowings;

 

(e)            
such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under,
any material agreement or instrument (other than this Supplemental Indenture and the agreements governing any other Indebtedness
being defeased, discharged or replaced) to which the Company or any of its Subsidiaries is a party or by which the Company or any
of its Subsidiaries is bound;

 

(f)            
the Company will have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by the
Company with the intent of preferring the Holders of the Notes over the other creditors of the Company with the intent of defeating,
hindering, delaying or defrauding creditors of the Company or others; and

 

(g)           
the Company will have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with.

 

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		Section	8.05       
                                         Deposited Money and Government Securities to Be Held in Trust; Other
                                         Miscellaneous Provisions.

 

Subject to Section 8.06 hereof, all money
and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee,
collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of
the outstanding Notes will be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this
Supplemental Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent),
to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest,
but such money need not be segregated from other funds except to the extent required by law.

 

The Company and the Guarantors will pay
and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government
Securities deposited pursuant to Section 8.04 hereof 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 the outstanding Notes.

 

Anything in this Article 8 to the contrary
notwithstanding, the Trustee will deliver or pay to the Company from time to time upon the request of the Company any money or
non-callable Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the
opinion delivered under Section 8.04(a) hereof), are in excess of the amount thereof that would then be required to be deposited
to effect an equivalent Legal Defeasance or Covenant Defeasance.

 

		Section	8.06       
                                         Repayment to Company.

 

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, premium, if any, or interest on any
Note and remaining unclaimed for two years after such principal, and premium, if any, or interest has become due and payable will
be paid to the Company on its written request or (if then held by the Company) will be discharged from such trust; and the Holder
of such Note will thereafter 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, will thereupon cease.

 

		Section	8.07       
                                         Reinstatement.

 

If the Trustee or Paying Agent is unable
to apply any United States dollars or non-callable Government Securities in accordance with Section 8.02 or 8.03 hereof, as the
case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, then the Company’s obligations under this Supplemental Indenture and the Notes will be revived and reinstated
as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted
to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Company
makes any payment of principal of, premium, if any, or interest on any Note following the reinstatement of its obligations, the
Company will be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee
or Paying Agent.

 

ARTICLE
9.

AMENDMENT, SUPPLEMENT AND WAIVER

 

		Section	9.01       
                                         Without Consent of Holders of Notes.

 

Notwithstanding Section 9.02 of this Supplemental
Indenture, the Company, the Guarantors and the Trustee may amend or supplement this Supplemental Indenture, the Guarantees or the
Notes without the consent of any Holder or Holders of a Note:

 

(a)            
to cure any ambiguity, defect or inconsistency;

 

    39

     

    

 

(b)            
 to provide for uncertificated Notes in addition to or in place of certificated Notes, provided that such uncertificated
notes are issued in registered form under Section 163(f)(5) of the Internal Revenue Code of 1986, as amended;

 

(c)            
to provide for the assumption of the Company’s or a Guarantor’s obligations to the Holders of the Notes in the
case of merger or consolidation or sale of all or substantially all of the Company’s or such Guarantor’s assets, applicable;

 

(d)            
to make any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely
affect the legal rights under this Supplemental Indenture of any Holder of the Notes in any material respect;

 

(e)            
to comply with requirements of the SEC in order to effect or maintain the qualification of this Supplemental Indenture under
the TIA;

 

(f)             
to provide for the issuance of Additional Notes in accordance with this Supplemental Indenture;

 

(g)           
to conform the text of this Supplemental Indenture, the Notes or the Guarantees to any provision of the Description of Notes
to the extent that such provision in the Description of Notes was intended to be a verbatim recitation of a provision of this Supplemental
Indenture, the Notes or the Guarantees;

 

(h)           
to allow any Guarantor to execute a supplemental indenture and/or a Guarantee with respect to the Notes;

 

(i)             
to evidence and provide for the acceptance of appointment by a successor trustee;

 

(j)             
to add guarantees with respect to the Notes;

 

(k)            
to secure the Notes; or

 

(l)         
to release any Lien granted in favor of the Holders of the Notes pursuant to Section 4.07 hereof upon release of the Lien
securing the underlying obligation that gave rise to such Lien.

 

Upon the request of the Company accompanied
by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture, and upon receipt
by the Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Company and the Guarantors in
the execution of any amended or supplemental indenture authorized or permitted by the terms of this Supplemental Indenture and
to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be obligated
to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Supplemental
Indenture or otherwise.

 

		Section	9.02       
                                         With Consent of Holders of Notes.

 

Except as provided below in this Section
9.02, the Company, the Guarantors and the Trustee may amend or supplement this Supplemental Indenture (including Sections 3.07
and 4.09 hereof), the Guarantees and the Notes with the consent of the Holders of at least a majority in aggregate principal amount
of the Notes then outstanding voting as a single class (including, without limitation, consents obtained in connection with a tender
offer or exchange offer for, or purchase of, the Notes, and, subject to Sections 6.04 and 6.07 hereof) and any existing Default
or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if any, or interest
on the Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision
of this Supplemental Indenture, the Guarantees or the Notes may be waived with the consent of the Holders of a majority in aggregate
principal amount of the then outstanding Notes (including, without limitation, consents obtained in connection with a tender offer
or exchange offer for, or purchase of, the Notes). Section 2.08 hereof will determine which Notes are considered to be “outstanding”
for purposes of this Section 9.02.

 

    40

     

    

 

Upon the request of the Company accompanied
by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture, and upon the
filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt
by the Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Company in the execution of such
amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights,
duties or immunities under this Supplemental Indenture or otherwise, in which case the Trustee may in its discretion, but will
not be obligated to, enter into such amended or supplemental indenture.

 

It will not be necessary for the consent
of the Holders of Notes under this Section 9.02 to approve the particular form of any proposed amendment or waiver, but it will
be sufficient if such consent approves the substance of the proposed amendment or waiver.

 

After an amendment, supplement or waiver
under this Section becomes effective, the Company will deliver to the Holders of Notes affected thereby a notice briefly describing
the amendment, supplement or waiver. Any failure of the Company to deliver such notice, or any defect therein, will not, however,
in any way impair or affect the validity of any such amended or supplemental indenture or waiver. Subject to Sections 6.04 and
6.07 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding voting as a single class may
waive compliance in a particular instance by the Company with any provision of this Supplemental Indenture or the Notes. However,
without the consent of each Holder of Notes affected, an amendment, supplement or waiver under this Section 9.02 may not (with
respect to any Notes held by a non-consenting Holder):

 

(a)            
reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver;

 

(b)            
reduce the principal of or change the fixed maturity of any Note or alter or waive any of the provisions with respect to
the redemption of the Notes except as provided above with respect to Sections 4.09 hereof;

 

(c)            
reduce the rate of or change the time for payment of interest, including default interest, on any Note;

 

(d)           
waive a Default or Event of Default in the payment of principal of or premium, if any, or interest on the Notes, except
a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding
Notes and a waiver of the payment default that resulted from such acceleration:

 

(e)            
make any Note payable in money other than that stated in the Notes;

 

(f)             
make any change in the provisions of this Supplemental Indenture relating to waivers of past Defaults or the rights of Holders
of the Notes to receive payments of principal of or premium, interest on the Notes;

 

(g)            
make any change in the foregoing amendment and waiver provisions; or

 

(h)            
release any Guarantor that is a Significant Subsidiary from any of its obligations under its Guarantee or this Supplemental
Indenture, except in accordance with the terms of this Supplemental Indenture.

 

		Section	9.03       
                                         Compliance With Trust Indenture Act.

 

Every amendment or supplement to this Supplemental
Indenture or the Notes will be set forth in an amended or supplemental indenture that complies with the TIA as then in effect.

 

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		Section	9.04       
                                         Revocation and Effect of Consents.

 

Until an amendment, supplement or
waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a Note and every
subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if
notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note may revoke
the consent as to its Note if the Trustee receives written notice of revocation before the date the waiver, supplement or
amendment becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter
binds every Holder.

 

		Section	9.05       
                                         Notation on or Exchange of Notes.

 

The Trustee may place an appropriate notation
about an amendment, supplement or waiver on any Note thereafter authenticated. The Company in exchange for all Notes may issue
and the Trustee will, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or
waiver.

 

Failure to make the appropriate notation
or issue a new Note will not affect the validity and effect of such amendment, supplement or waiver.

 

		Section	9.06       
                                         Trustee to Sign Amendments, Etc. 

 

The Trustee will sign any amended, restated
or supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement does not adversely affect the rights,
duties, liabilities or immunities of the Trustee. The Company may not sign an amendment or supplemental indenture until the Board
of Directors approves it. In executing any amended, restated or supplemental indenture, the Trustee will be entitled to receive
and (subject to Section 7.01 hereof) will be fully protected in relying upon, in addition to the documents required by Section
12.04 hereof, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such amended, restated or
supplemental indenture is authorized or permitted by this Supplemental Indenture.

 

ARTICLE
10.

NOTE GUARANTEES

 

		Section	10.01    
                                         Guarantee.

 

Subject to this Article 10, each of the
Guarantors hereby, jointly and severally, unconditionally guarantees to each Holder of a Note authenticated and delivered by the
Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Supplemental
Indenture, the Notes or the obligations of the Company hereunder or thereunder, that:  (a) the principal of and interest
on the Notes will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest
on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Company to the Holders
or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and
thereof; and (b) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that
same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated
maturity, by acceleration or otherwise. Failing payment when due of any amount so guaranteed or any performance so guaranteed for
whatever reason, the Guarantors will be jointly and severally obligated to pay the same immediately. Each Guarantor agrees that
this is a guarantee of payment and not a guarantee of collection.

 

The Guarantors hereby agree that their obligations
hereunder will be unconditional, irrespective of the validity, regularity or enforceability of the Notes or this Supplemental Indenture,
the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions
hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other circumstance which
might otherwise constitute a legal or equitable discharge or defense of a Guarantor. Each Guarantor hereby waives diligence, presentment,
demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require
a proceeding first against the Company, protest, notice and all demands whatsoever and covenant that this Guarantee will not be
discharged except by complete performance of the obligations contained in the Notes and this Supplemental Indenture.

 

    42

     

    

 

If any Holder or the Trustee is required
by any court or otherwise to return to the Company, the Guarantors or any custodian, Trustee, liquidator or other similar official
acting in relation to either the Company or the Guarantors, any amount paid by either to the Trustee or such Holder, this Guarantee,
to the extent theretofore discharged, will be reinstated in full force and effect.

 

Each Guarantor agrees that it will not be
entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in
full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on the one hand, and
the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated as
provided in Article 6 hereof for the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition preventing
such acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any declaration of acceleration
of such obligations as provided in Article 6 hereof, such obligations (whether or not due and payable) will forthwith become due
and payable by the Guarantors for the purpose of this Guarantee. The Guarantors will have the right to seek contribution from any
non-paying Guarantor so long as the exercise of such right does not impair the rights of the Holders under the Guarantee.

 

		Section	10.02    
                                         Limitation on Guarantor Liability.

 

Each Guarantor, and by its acceptance of
Notes, each Holder, hereby confirms that it is the intention of all such parties that the Guarantee of such Guarantor not constitute
a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent
Transfer Act or any similar federal or state law to the extent applicable to any Guarantee. To effectuate the foregoing intention,
the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of such Guarantor under its Guarantee
and this Article 10 will be limited to the maximum amount as will, after giving effect to such maximum amount and all other contingent
and fixed liabilities of such Guarantor that are relevant under such laws, and after giving effect to any collections from, rights
to receive contribution from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other
Guarantor under this Article 10, result in the obligations of such Guarantor under its Guarantee not constituting a fraudulent
transfer or conveyance.

 

		Section	10.03    
[Reserved.]

 

		Section	10.04    
                                         Guarantors May Consolidate, etc. on Certain Terms.

 

A Guarantor may not sell or otherwise dispose
of all or substantially all of its assets to, or consolidate with or merge with or into, whether or not such Guarantor is the surviving
Person, another Person other than the Company or another Guarantor, unless:

 

(a)            
immediately after giving effect to such transaction, no Default or Event of Default exists; and

 

(b)            
either:

 

(1)               
the Person acquiring the assets in any such sale or disposition or the Person formed by or surviving any such consolidation
or merger, if other than the Guarantor or the Company, assumes all the obligations of such Guarantor under this Supplemental Indenture
and its Guarantee pursuant to a supplemental indenture in the form of Exhibit B hereto; or

 

(2)               
such sale or other disposition does not violate the applicable provisions of this Supplemental Indenture.

 

In case of any such consolidation,
merger, sale or conveyance and upon the assumption by the successor Person, by supplemental indenture, executed and delivered
to the Trustee and satisfactory in the form of Exhibit B to the Trustee, of the Guarantee endorsed upon the Notes and
the due and punctual performance of all of the covenants and conditions of this Supplemental Indenture to be performed by the
Guarantor, such successor Person will succeed to and be substituted for the Guarantor with the same effect as if it had been
named herein as a Guarantor. Such successor Person thereupon may cause to be signed any or all of the Guarantees to be
endorsed upon all of the Notes issuable hereunder. All the Guarantees so issued will in all respects have the same legal rank
and benefit under this Supplemental Indenture as the Guarantees theretofore and thereafter issued in accordance with the
terms of this Supplemental Indenture as though all of such Guarantees had been issued at the date of the execution
hereof.

 

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Except as set forth in Article 5 hereof,
and notwithstanding clauses (a) and (b) above, nothing contained in this Supplemental Indenture or in any of the Notes will prevent
any consolidation or merger of a Guarantor with or into the Company or another Guarantor, or will prevent any sale or conveyance
of the property of a Guarantor as an entirety or substantially as an entirety to the Company or another Guarantor. Upon any such
consolidation or merger of any Guarantor with or into another Guarantor or with or into the Company, the Guarantee of the Guarantor
that does not survive will no longer be of any force or effect.

 

		Section	10.05    
                                         Releases Following Sale of Assets, Etc. 

 

In the event of (a) any sale or other
disposition of all or substantially all of the assets of any Guarantor, including by way of merger, consolidation or otherwise,
to a Person that is not (either before or after giving effect to such transaction) the Company or a Subsidiary of the Company;
(b) any sale or other disposition of all of the Capital Stock of a Guarantor, including by way of dividend of the Capital
Stock of such Guarantor to the stockholders of the Company, to a Person that is not (either before or after giving effect to such
transaction) the Company or a Subsidiary of the Company; (c) Legal Defeasance, Covenant Defeasance or satisfaction and discharge
of this Supplemental Indenture as provided in Article 8 and Article 11; or (d) release of such Guarantor’s Guarantee of all
other Indebtedness of the Company, then such Guarantor or the corporation acquiring the property will be released and relieved
of any obligations under its Guarantee; provided that in the case of clause (a) or (b) such sale or other disposition does
not violate the applicable provisions of this Supplemental Indenture. Upon delivery by the Company to the Trustee of an Officers’
Certificate and an Opinion of Counsel to the effect that such sale or other disposition was made by the Company in accordance with
the applicable provisions of this Supplemental Indenture, the Trustee will execute any documents (in form and substance reasonably
acceptable to the Trustee) reasonably required in order to evidence the release of any Guarantor from its obligations under its
Guarantee.

 

Any Guarantor not released from its obligations
under its Guarantee will remain liable for the full amount of principal of and interest on the Notes and for the other obligations
of any Guarantor under this Supplemental Indenture as provided in this Article 10.

 

ARTICLE
11.

SATISFACTION AND DISCHARGE

 

		Section	11.01    
                                         Satisfaction and Discharge.

 

This Supplemental Indenture will be discharged
and will cease to be of further effect as to all Notes issued hereunder, when:

 

(1)               
either:

 

(a)                
all Notes that have been authenticated (except lost, stolen or destroyed Notes that have been replaced or paid and Notes
for whose payment money has theretofore been deposited in trust and thereafter repaid to the Company) have been delivered to the
Trustee for cancellation; or

 

(b)                all
Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the delivery of a
notice of redemption or otherwise or will become due and payable within one year and the Company or any Guarantor has
irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the
Holders, cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable
Government Securities, in such amounts as will be sufficient without consideration of any reinvestment of interest, to pay
and discharge the entire indebtedness on the Notes not delivered to the Trustee for cancellation for principal, premium and
accrued interest to the date of maturity or redemption;

 

    44

     

    

 

(2)               
no Default or Event of Default has occurred and is continuing on the date of such deposit or will occur as a result of such
deposit and such deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which
the Company or any Guarantor is a party or by which the Company or any Guarantor is bound (other than that resulting from borrowing
funds to be applied to make such deposit and any similar and simultaneous deposit relating to other Indebtedness and, in each case,
the granting of Liens in connection therewith);

 

(3)               
the Company or any Guarantor has paid or caused to be paid all sums payable by it under this Supplemental Indenture; and

 

(4)               
the Company has delivered irrevocable instructions to the Trustee under this Supplemental Indenture to apply the deposited
money toward the payment of the Notes at maturity or the redemption date, as the case may be.

 

In addition, the Company must deliver an Officers’ Certificate
and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied.

 

ARTICLE
12.

MISCELLANEOUS

 

		Section	12.01    
                                         Trust Indenture Act Controls.

 

If any provision of this Supplemental Indenture
limits, qualifies or conflicts with the duties imposed by TIA Section 318(c), the imposed duties will control.

 

		Section	12.02    
                                         Notices.

 

Any notice or communication by the Company,
any Guarantor or the Trustee to the others is duly given if in writing and delivered in Person or mailed by first class mail (registered
or certified, return receipt requested), telecopier or overnight air courier guaranteeing next day delivery, to the others’
address.

 

If to the Company and/or any Guarantor:

 

Ball Corporation

10 Longs Peak Drive

Broomfield, Colorado 80021-2510

Telecopier No.: (303) 460-2691

Attention: Treasurer

 

With a copy to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, New York 10001

Attention: Michael J. Zeidel, Esq.

 

If to the Trustee:

 

Deutsche Bank Trust Company Americas

Trust and Agency Services

60 Wall Street, 24th Floor

Mail Stop: NYC60-2405

New York, NY 10005

USA

Attention: Corporates Team, Ball Corporation

Facsimile: (732) 578-4635

 

    45

     

    

 

The Company, any Guarantor, the Trustee,
the Paying Agent or the Registrar, by notice to the others may designate additional or different addresses for subsequent notices
or communications.

 

All notices and communications (other than
those sent to Holders) will be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business
Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if telecopied; and the next Business
Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery.

 

Any notice or communication to a Holder
will be mailed by first class mail postage prepaid, certified or registered mail, return receipt requested, or by overnight air
courier guaranteeing next day delivery to its address shown on the register kept by the Registrar or delivered through the applicable
procedures of the Depositary. Any notice or communication will also be so mailed to any Person described in TIA Section 313(c),
to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it will not affect its
sufficiency with respect to other Holders.

 

If a notice or communication is mailed in
the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it.

 

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

 

The Trustee agrees to accept and act upon
instructions or directions pursuant to this Supplemental Indenture sent by unsecured e-mail, facsimile transmission or other similar
unsecured electronic methods. If the party elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar
electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of
such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly
or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict
or are inconsistent with a subsequent written instruction. The party providing electronic instructions 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 or interception and misuse by third parties.

 

		Section	12.03    
                                         Communication by Holders of Notes with Other Holders of Notes.

 

Holders may communicate pursuant to TIA
Section 312(b) with other Holders with respect to their rights under this Supplemental Indenture or the Notes. The Company, the
Trustee, the Registrar and anyone else will have the protection of TIA Section 312(c).

 

		Section	12.04    
Certificate and Opinion as to Conditions Precedent.

 

Upon any request or application by the Company
to the Trustee to take any action under this Supplemental Indenture, the Company will furnish to the Trustee:

 

(a)            
an Officers’ Certificate in form and substance reasonably satisfactory to the Trustee (which will include the statements
set forth in Section 12.05 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any,
provided for in this Supplemental Indenture relating to the proposed action have been satisfied; and

 

    46

     

    

 

(b)               
 except with respect to the initial issuance of the Notes, an Opinion of Counsel in form and substance reasonably satisfactory
to the Trustee (which will include the statements set forth in Section 12.05 hereof) stating that, in the opinion of such counsel,
all such conditions precedent and covenants have been satisfied.

 

		Section	12.05    
                                         Statements Required in Certificate and Opinion.

 

Each certificate or opinion with respect
to compliance with a condition or covenant provided for in this Supplemental Indenture (other than a certificate provided pursuant
to TIA Section 314(a)(4)) will comply with the provisions of TIA Section 314(e) and will include:

 

(a)                
a statement that the Person making such certificate or opinion has read such covenant or condition;

 

(b)               
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;

 

(c)                
a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to
enable him to express an informed opinion as to whether or not such covenant or condition has been satisfied; and

 

(d)               
a statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied.

 

		Section	12.06    
                                         Rules by Trustee and Agents.

 

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

 

		Section	12.07    
                                         Calculation of Foreign Currency Amounts.

 

The calculation of the U.S. dollar equivalent
amount for any amount denominated in a foreign currency will be the noon buying rate in the City of New York as certified by the
Federal Reserve Bank of New York on the date on which such determination is required to be made or, if such day is not a day on
which such rate is published, the rate most recently published prior to such day.

 

		Section	12.08    
                                         No Personal Liability of Directors, Officers, Employees and Stockholders.

 

No past, present or future director, officer,
employee, incorporator or stockholder of the Company or any Guarantor, as such, will have any liability for any obligations of
the Company or such Guarantor under the Notes, the Guarantees, this Supplemental Indenture or for any claim based on, in respect
of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability.
The waiver and release are part of the consideration for issuance of the Notes and the Guarantees. The waiver may not be effective
to waive liabilities under the federal securities laws.

 

		Section	12.09    
                                         Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.

 

THE INTERNAL LAWS OF THE STATE OF NEW YORK
WILL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE, THE NOTES AND THE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE
PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

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

 

    47

     

    

 

EACH OF THE COMPANY AND THE TRUSTEE HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATING TO THIS  SUPPLEMENTAL INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY.

 

		Section	12.10    
                                         Force Majeure.

 

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

 

		Section	12.11    
                                         No Adverse Interpretation of Other Agreements.

 

This Supplemental Indenture may not be used
to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other Person. Any such indenture,
loan or debt agreement may not be used to interpret this Supplemental Indenture.

 

		Section	12.12    
                                         Successors.

 

All agreements of the Company in this Supplemental
Indenture and the Notes will bind its successors. All agreements of the Trustee in this Supplemental Indenture will bind its successors.

 

		Section	12.13    
                                         Severability.

 

In case any provision in this Supplemental
Indenture or in the Notes will be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions will not in any way be affected or impaired thereby.

 

		Section	12.14    
                                         Counterpart Originals.

 

The parties may sign any number of copies
of this Supplemental Indenture. Each signed copy will be an original, but all of them together represent the same agreement.

 

		Section	12.15    
                                         Table of Contents, Headings, Etc. 

 

The Table of Contents, Cross-Reference Table
and Headings of the Articles and Sections of this Supplemental Indenture have been inserted for convenience of reference only,
are not to be considered a part of this Supplemental Indenture and will in no way modify or restrict any of the terms or provisions
hereof.

 

    48

     

    

 

		Section	12.16    
                                         Patriot Act. 

 

In order to comply with the laws,
rules, regulations and executive orders in effect from time to time applicable to banking institutions, including, without
limitation, those relating to the funding of terrorist activities and money laundering, including Section 326 of the USA
Patriot Act of the United States (“Applicable Law”), the Trustee and Agents are required to obtain, verify,
record and update certain information relating to individuals and entities which maintain a business relationship with the
Trustee and Agents. Accordingly, each of the parties agree to provide to the Trustee and Agents, upon their request from time
to time, such identifying information and documentation as may be available for such party in order to enable the Trustee and
Agents to comply with Applicable Law.

 

[Signatures on following pages]

 

    49

     

    

 

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

 

	 	BALL CORPORATION
	 	BALL METAL BEVERAGE CONTAINER CORP.
	 	LATAS DE ALUMINIO BALL, INC.
	 	USC MAY VERPACKUNGEN HOLDINGS INC.
	 	BALL ADVANCED ALUMINUM TECHNOLOGIES CORP.
	 	BALL AEROSPACE & TECHNOLOGIES CORP.
	 	BALL TECHNOLOGIES HOLDINGS CORP.
	 	BALL HOLDING CORP.
	 	BALL INTERNATIONAL, LLC
	 	BALL BP HOLDING COMPANY
	 	BALL BEVERAGE CAN AMERICAS INC.
	 	 
	 	By:	/s/ Jeffrey A. Knobel
	 	 	Name: Jeffrey A. Knobel
	 	 	Title: Treasurer
	 	 	 
	 	BALL CORPORATION, A NEVADA CORPORATION
	 	BALL GLASS CONTAINERS, INC.
	 	BALL CONTAINER LLC
	 	BALL INC.
	 	BALL HOLDINGS LLC
	 	 
	 	By:	/s/ Charles E. Baker
	 	 	Name: Charles E. Baker
	 	 	Title: President and Secretary
	 	 	 
	 	BALL METAL CONTAINER CORPORATION
	 	 
	 	By:	/s/ Charles E. Baker
	 	 	Name: Charles E. Baker
	 	 	Title: Secretary

 

[Signature Page
to Thirteenth Supplemental Indenture]

 

     

     

    

 

		BALL PAN-EUROPEAN HOLDINGS, LLC

 

	 	By: 	/s/ Charles E. Baker
	 	 	Name: Charles E. Baker
	 	 	Title: Assistant Secretary
	 	 	 
	 	BALL DELAWARE HOLDINGS, LLC
	 	BALL ASIA SERVICES LIMITED
	 	BALL PACKAGING LLC
	 	BALL GLOBAL BUSINESS SERVICES CORP.
	 	REXAM BEVERAGE CAN COMPANY
	 	 
	 	By: 	/s/ Charles E. Baker
	 	 	Name: Charles E. Baker
	 	 	Title: Vice President and Secretary

 

[Signature Page
to Thirteenth Supplemental Indenture]

 

     

     

    

 

	 	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	 	as Trustee
	 	 
	 	By:	/s/ Kathryn Fischer
	 	 	Name: Kathryn Fischer
	 	 	Title: Vice President
	 	 
	 	By:	/s/ Luke Russell
	 	 	Name: Luke Russell
	 	 	Title: Assistant Vice President

 

[Signature Page to Thirteenth
Supplemental Indenture] 

 

     

     

    

 

EXHIBIT A

 

 

[Face of Note]

 

[Insert the Global Note
Legend, if applicable pursuant to the provisions of the Supplemental Indenture]

 

 

2.875% Senior Notes due
2030

 

No.                

	ISIN
    No.:	$
                                 
	CUSIP
    No.:

 

BALL CORPORATION

 

promises to pay ________ or registered assigns, the principal
sum of $____________ on August 15, 2030.

 

Interest Payment Dates: February 15th
and August 15th

 

Record Dates: February 1st and August 1st

 

Dated:

 

	 	BALL
    CORPORATION
	 	 
	 	By: 	 
	 	Name: 	Jeffrey A. Knobel
	 	Title: 	Vice President and Treasurer

 

 

	Date
    of Authentication:                              	 
	 	 
	This
    is one of the Global Notes	 
	referred
    to in the within-	 
	mentioned
    Supplemental Indenture:	 
	 	 
	Dated:
                           	 
	 	 
	DEUTSCHE
    BANK TRUST COMPANY AMERICAS,	 
	as
    Trustee	 
	 	 
	By:	 	 
	 	Name: Kathryn Fischer	 
	 	Title: Vice President	 

 

    A-1

     

    

 

[Back of Note]

 

2.875% Senior Notes due 2030

 

Capitalized terms used herein have the meanings
assigned to them in the Supplemental Indenture referred to below unless otherwise indicated.

 

1.                  
INTEREST . Ball Corporation, an Indiana corporation (the “Company”), promises to pay interest
on the principal amount of this Note at 2.875% per annum from the date hereof until maturity. The Company will pay interest semi-annually
on February 15 and August 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each
an “Interest Payment Date”) as if it were made on the date the payment was due, and no interest will accrue
on the amount so payable for the period from and after that interest payment date or the maturity date, as the case may be, to
the date the payment is made. Interest on the Notes will accrue from the most recent date to which interest has been paid or, if
no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest,
and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment
Date, interest will accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment
Date will be February 15, 2021. The Company will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal at the rate equal to the then applicable interest rate on the Notes to the extent lawful;
it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest
at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.

 

2.                  
METHOD OF PAYMENT. The Company will pay interest on the Notes (except defaulted interest) to the Persons who are
registered Holders of Notes at the close of business on the February 1 and August 1 next preceding the Interest Payment Date, even
if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12
of the Supplemental Indenture with respect to defaulted interest. Principal, premium, if any, and interest on the Notes will be
payable at the office or agency of the Paying Agent and Registrar or, at the option of the Company, payment of interest may be
made by check mailed to the Holders of the Notes at their respective addresses set forth in the register of Holders of Notes; provided
that all payments of principal, premium and interest with respect to Notes the Holders of which have given wire transfer instructions
to the Trustee will be required to be made by wire transfer of immediately available funds to the accounts specified by the Holders
thereof. Such payment will be in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts.

 

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

 

4.                   INDENTURE.
This Note is one of a duly authenticated series of securities of the Company issued and to be issued in one or more series
under an indenture (the “Base Indenture”), dated as of November 27, 2015, between the Company and the
Trustee, as amended by the Thirteenth Supplemental Indenture (the “Supplemental Indenture” and, together
with the Base Indenture, the “Indenture”), dated as of August 13, 2020, among the Company, the
Guarantors and the Trustee. The terms of the Notes include those stated in the Supplemental Indenture and those made part of
the Supplemental Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code Sections 77aaa-77bbbb).
The Notes are subject to all such terms, and Holders are referred to the Supplemental Indenture and such Act for a statement
of such terms. To the extent any provision of this Note conflicts with the express provisions of the Base Indenture, the
provisions of this Note will govern and be controlling, and to the extent any provision of this Note conflicts with the
express provisions of the Supplemental Indenture, the provisions of the Supplemental Indenture will govern and be
controlling. The Company will be entitled to issue Additional Notes pursuant to Section 2.14 of the Supplemental
Indenture.

 

    A-2

     

    

 

5.                  
OPTIONAL REDEMPTION. The Company may redeem all or any of the Notes at any time in whole, or from time to time in
part, prior to May 15, 2030 (three months prior to the maturity date of the Notes) (the “Par Call Date”), at
the Company’s option, at a redemption price equal to the greater of (1) 100% of the principal amount of the Notes to
be redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes
that would be due if such Notes matured on the Par Call Date, discounted to the date of redemption (excluding interest accrued
to the date of redemption), on a semiannual basis, at a rate equal to the sum of the Treasury Rate plus 50 basis points, plus in
each case, any accrued and unpaid interest on the Notes to but excluding the date of redemption. The redemption prices will be
calculated assuming a 360-day year consisting of twelve 30-day months.

 

At any time on or after the Par Call Date,
the Company may redeem all or any of the Notes at any time in whole, or from time to time in part, at its option, at a redemption
price equal to 100% of the principal amount thereof, plus any accrued and unpaid interest on the Notes to, but excluding, the date
of redemption.

 

Notwithstanding the foregoing, installments
of interest on the Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable
on the interest payment date to the registered Holders as of the close of business on the relevant record date according to the
Notes and the Supplemental Indenture.

 

For purposes of the foregoing, the following
definitions apply:

 

“Comparable Treasury Issue”
means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining
term (as measured from the date of redemption and assuming for this purpose that the Notes matured on the Par Call Date) of the
Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues
of corporate debt securities of comparable maturity to the remaining term of the Notes.

 

“Comparable Treasury Price”
means, with respect to any redemption date, (i) the average of the Reference Treasury Dealer Quotations obtained by the Company
for that redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, (ii) if the Company
is unable to obtain at least four such Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations
obtained by the Company, or (iii) if only one Reference Treasury Dealer Quotation is received, such quotation.

 

“Independent Investment Banker”
means Goldman Sachs & Co. LLC, or, if such firm is unwilling or unable to select the applicable Comparable Treasury Issue,
an independent investment banking institution of national standing appointed by the Company.

 

“Reference Treasury Dealer”
means (i) Goldman Sachs & Co. LLC (or its affiliates that are Primary Treasury Dealers) and their respective successors; provided,
however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a “Primary
Treasury Dealer”), the Company may substitute another institution to act as a Primary Treasury Dealer, and (ii) at least
two other Primary Treasury Dealers selected by the Company.

 

“Reference Treasury Dealer Quotations”
means, with respect to each Reference Treasury Dealer and any redemption date for the Notes, an average, as determined by the Company,
of the bid and asked prices for the Comparable Treasury Issue for the Notes, expressed in each case as a percentage of its principal
amount, quoted in writing to the Company by the Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business
Day preceding the redemption date.

 

“Treasury Rate”
means, with respect to any redemption date applicable to the Notes, the rate per annum equal to the semi-annual equivalent
yield to maturity, computed as of the third Business Day immediately preceding the redemption date, of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue, expressed as a percentage of its principal amount, equal
to the applicable Comparable Treasury Price for the redemption date.

 

    A-3

     

    

 

6.                  
MANDATORY REDEMPTION. The Company is not required to make mandatory redemption payments with respect to the Notes.

 

7.                  
REPURCHASE AT OPTION OF HOLDER UPON A CHANGE OF CONTROL REPURCHASE EVENT . If a Change of Control Repurchase Event
occurs, unless the Company has exercised its right to redeem the Notes as described under clause (5) above within 60 days after
the Change of Control, the Company will make an offer (a “Change of Control Offer”) to each holder of notes
to repurchase all or any part, equal to $2,000 or an integral multiple of $1,000 in excess thereof, of each Holder’s Notes
at a repurchase price in cash equal to 101% of the aggregate principal amount of the Notes repurchased plus accrued and unpaid
interest on the Notes repurchased to but excluding the date of repurchase. Within 30 days following any Change of Control Repurchase
Event or, at the Company’s option, prior to the consummation of the Change of Control transaction, but after the public announcement
thereof, the Company will send a notice to each Holder setting forth the procedures governing the Change of Control Offer as required
by the Supplemental Indenture. If sent prior to the date of consummation of the Change of Control transaction, the notice will
state that the Change of Control Offer is conditioned on a Change of Control Repurchase Event occurring prior to the Change of
Control Payment Date. If Holders of not less than 90% in aggregate principal
amount of the outstanding notes validly tender and do not withdraw such Notes in a Change of Control Offer and the Company, or
any third party making a Change of Control Offer in lieu of the Company, purchases all of the Notes validly tendered and not withdrawn
by such Holders, the Company or such third party will have the right, upon not less than 10 days nor more than 60 days’ prior
notice, provided that such notice is given not more than 30 days following such purchase pursuant to the Change of Control Offer
described above, to redeem all Notes that remain outstanding following such purchase on a date (the “Second Change of
Control Payment Date”) at a price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus any
accrued and unpaid interest on the Notes repurchases to, but excluding, the Second Change of Control Payment Date.

 

8.                  
NOTICE OF REDEMPTION. Notice of redemption will be delivered at least 15 days but not more than 60 days before the
redemption date to each Holder whose Notes are to be redeemed. Notes in denominations larger than $2,000 may be redeemed in part
but only in whole multiples of $1,000 in excess thereof, unless all of the Notes held by a Holder are to be redeemed. On and after
the redemption date interest ceases to accrue on Notes or portions thereof called for redemption.

 

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

 

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

 

    A-4

     

    

 

11.                AMENDMENT,
SUPPLEMENT AND WAIVER. The Base Indenture may be amended as provided therein. Subject to certain exceptions, the
Supplemental Indenture, the Guarantees or the Notes may be amended or supplemented with the consent of the Holders of at
least a majority in aggregate principal amount of the Notes then outstanding, including, without limitation, consents
obtained in connection with a purchase of, or tender offer or exchange offer for, Notes, voting as a single class, and any
existing default or compliance with any provision of the Supplemental Indenture, the Guarantees or the Notes may be waived
with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Notes, including, without
limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes, voting as a
single class. Without the consent of any Holder of a Note, the Supplemental Indenture, the Guarantees or the Notes may be
amended or supplemented (i) to cure any ambiguity, defect or inconsistency; (ii) to provide for uncertificated
Notes in addition to or in place of certificated Notes, provided that such uncertificated notes are issued in registered form
under Section 163(f)(5) of the Internal Revenue Code of 1986, as amended; (iii) to provide for the assumption of the
Company’s or a Guarantor’s obligations to Holders of the Notes in case of a merger or consolidation or sale of
all or substantially all of the Company’s or Guarantor’s assets, as applicable (iv) to make any change that
would provide any additional rights or benefits to the Holders of the Notes or that does not adversely affect the legal
rights under the Supplemental Indenture of any such Holder in any material respect; (v) to comply with the requirements
of the SEC in order to effect or maintain the qualification of the Supplemental Indenture under the Trust Indenture Act; (vi)
to provide for the issuance of Additional Notes in accordance with the Supplemental Indenture; (vii) to conform the text
of the Supplemental Indenture, the Notes or the Guarantees to any provision of the Description of Notes to the extent that
such provision in the Description of Notes was intended to be a verbatim recitation of a provision of the Supplemental
Indenture, the Notes or the Guarantees; (viii) to allow any Guarantor to execute a supplemental indenture to the
Supplemental Indenture and/or a Guarantee with respect to the Notes; (ix) to evidence and provide for the acceptance of
appointment by a successor trustee; (x) to add Guarantees with respect to the Notes; (xi) to secure the Notes; or
(xii) to release any Lien granted in favor of the Holders of the Notes pursuant to Section 4.07 of the Supplemental
Indenture upon release of the Lien securing the underlying obligation that gave rise to such Lien.

 

12.               
DEFAULTS AND REMEDIES. Each of the following is an “EVENT OF DEFAULT”:  (i) default
for a period of 30 days in the payment when due of interest on the Notes; (ii) default in the payment when due of the principal
of or premium, if any, on the Notes; (iii) the Company or any of its Subsidiaries fails for 30 days after notice specifying
the default from the Trustee or Holders of at least 25% of the aggregate principal amount of Notes then outstanding to comply with
any of the provisions of Section 4.09 of the Supplemental Indenture; (iv) the Company or any of its Subsidiaries fails for
60 days after notice specifying the default from the Trustee or Holders of at least 25% of the aggregate principal amount of Notes
then outstanding to comply with any of the other agreements in the Supplemental Indenture or the Notes; (v) the Company or
any of its Subsidiaries (other than a receivables securitization entity) defaults under any Indebtedness for money borrowed by
the Company or any of its Subsidiaries (other than a receivables securitization entity) (or the payment of which is guaranteed
by the Company or any of its Subsidiaries (other than a receivables securitization entity)) whether such Indebtedness or guarantee
now exists, or is created after the date of the Supplemental Indenture, if that default (a) is caused by a failure to pay
principal on such Indebtedness at its final stated maturity (or on or before the expiration of any grace period provided in such
Indebtedness on the date of such default) (a “Payment Default”) or (b) results in the acceleration of such
Indebtedness prior to its express maturity and, in each case, the principal amount of any such Indebtedness, together with the
principal amount of any other such Indebtedness under which there is a Payment Default or the maturity of which has been so accelerated,
aggregates $75.0 million or more or its foreign currency equivalent, and in each case the Company has received notice specifying
the default from the Trustee or Holders of at least 25% of the aggregate principal amount of Notes then outstanding and thereafter
does not cure the default within 30 days; (vi) the Company or any of its Subsidiaries fails to pay final judgments aggregating
in excess of $75.0 million or its foreign currency equivalent, excluding amounts covered by insurance, which judgments are not
paid, discharged or stayed for a period of 60 days; (vii) any Guarantee of a Significant Subsidiary is held in any judicial proceeding
to be unenforceable or invalid or ceases for any reason to be in full force and effect or any Guarantor that is a Significant Subsidiary,
or any Person acting on behalf of any Guarantor that is a Significant Subsidiary, denies or disaffirms its obligations under such
Guarantor’s Guarantee, in each case except as permitted by the Supplement Indenture; or (viii) certain events of bankruptcy
or insolvency occur with respect to the Company or any of its Subsidiaries that is a Significant Subsidiary pursuant to or within
the meaning of Bankruptcy Law.

 

If any Event of Default occurs and is
continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Notes may declare all the
Notes to be due and payable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of
bankruptcy or insolvency, with respect to the Company or any Subsidiary of the Company that is a Significant Subsidiary
pursuant to or within the meaning of Bankruptcy Law, all outstanding Notes will become due and payable without further action
or notice. Holders may not enforce the Supplemental Indenture or the Notes except as provided in the Supplemental Indenture.
Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes may direct
the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the Notes notice of any
continuing Default or Event of Default if it determines that withholding notice is in their interest, except a Default or
Event of Default relating to the payment of principal or interest. The Holders of a majority in aggregate principal amount of
the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing
Default or Event of Default and its consequences under the Supplemental Indenture except a continuing Default or Event of
Default in the payment of interest on, or the principal of, the Notes. The Company is required to deliver to the Trustee
annually a statement regarding compliance with the Supplemental Indenture, and the Company is required upon becoming aware of
any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

 

    A-5

     

    

 

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

 

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

 

15.               
AUTHENTICATION. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating
agent.

 

16.               
ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as:  TEN COM
(= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as
tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

 

17.               
CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures,
the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption
as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. The Company
will furnish to any Holder upon written request and without charge a copy of the Base Indenture, the Supplemental Indenture and
the Guarantees. Requests may be made to:

 

Ball Corporation

10 Longs Peak Drive

Broomfield, Colorado 80021-2510

Telecopier No.: (303) 460-2691

Attention: Chief Financial Officer

 

    A-6

     

    

 

ASSIGNMENT FORM

 

 

	To assign this Note, fill in the form below:	 	 
	 	 	 
	(I) or (we) assign and transfer this Note to:	 
	 	 	(Insert assignee’s legal name)
	 	 	 
	(Insert assignee’s soc. sec. or tax I.D. no.)
	 
	 
	 
	 
	(Print or type assignee’s name, address and zip code)
	and irrevocably appoint	 
	to transfer this Note on the books of the Company.  The agent may substitute another to act for him.
	 	 	 
	Date:	 	 	 	 
	 	 	 
	 	Your Signature:	 
	 	 	(sign exactly as your name appears on the face of this senior note)
	 	 	 
	 	Tax Identification No:	 
	 	 	 
	 	Signature Guarantee:	 
	 	 	 	 	 	 	 	 	 	 	 

Signatures must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security
Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined
by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as
amended.

 

    A-7

     

    

 

Option of Holder to Elect Purchase

 

If you want to elect to have this Note purchased
by the Company pursuant to Section 4.09 of the Supplemental Indenture, check the box below:

 

  ̈  Section 4.09

 

If you want to elect to have only part of
the Note purchased by the Company pursuant to Section 4.09 of the Supplemental Indenture, state the amount you elect to have purchased:
$

 

 

	Date:	 	 	 
	 	 
	 	Your Signature:	 
	 	(sign exactly as your name appears on the face of this senior note)
	 	 
	 	 
	 	Tax Identification No:	 
	 	 	 
	 	Signature Guarantee:	 
	 	 	 	 	 	 

Signatures must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security
Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined
by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as
amended.

 

    A-8

     

    

 

EXHIBIT B

FORM OF SUPPLEMENTAL INDENTURE

TO BE DELIVERED BY SUBSEQUENT GUARANTORS

 

SUPPLEMENTAL INDENTURE (this “Supplemental
Indenture”), dated as of                     ,
20   , among                         
(the “Guaranteeing Subsidiary”), a subsidiary of Ball Corporation (or its permitted successor), an Indiana corporation
(the “Company”), the Company and Deutsche Bank Trust Company Americas, as trustee under the Thirteenth Supplemental
Indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Company has heretofore executed
and delivered to the Trustee an indenture (the “Base Indenture “), dated as of November 27, 2015, between the
Company and the Trustee, as amended by a Thirteenth Supplemental Indenture (the “Thirteenth Supplemental Indenture”
and, together with the Base Indenture, the “Indenture”), dated as of August 13. 2020, among the Company, the
Guarantors named therein and the Trustee, providing for the original issuance of an aggregate principal amount of $1.3 billion
of 2.875% Senior Notes due 2030 (the “ Notes”);

 

WHEREAS, the Thirteenth Supplemental Indenture
provides that under certain circumstances the Guaranteeing Subsidiary will execute and deliver to the Trustee a supplemental indenture
pursuant to which the Guaranteeing Subsidiary will unconditionally guarantee all of the Company’s obligations under the Notes
and the Indenture on the terms and conditions set forth herein (the “ Note Guarantee”); and

 

WHEREAS, pursuant to Section 9.01 of the
Thirteenth Supplemental Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

 

NOW THEREFORE, in consideration of the foregoing
and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the
Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

1.            
Capitalized Terms. Capitalized terms used herein without definition will have the meanings assigned to them in the
Thirteenth Supplemental Indenture.

 

2.            
Agreement to Guarantee. The Guaranteeing Subsidiary hereby agrees as follows:

 

(a)           
Along with all Guarantors named in the Thirteenth Supplemental Indenture, to jointly and severally Guarantee to each Holder
of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, the Notes or the obligations
of the Company hereunder or thereunder, that:

 

(i)            
the principal of, and premium, if any, and interest on the Notes will be promptly paid in full when due, whether at maturity,
by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful,
and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or
performed, all in accordance with the terms hereof and thereof; and

 

(ii)           
in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be
promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity,
by acceleration or otherwise. Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever
reason, the Guarantors will be jointly and severally obligated to pay the same immediately.

 

    B-1

     

    

 

(b)          
 The obligations hereunder will be unconditional, irrespective of the validity, regularity or enforceability of the Notes
or the Thirteenth Supplemental Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of
the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce
the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a Guarantor.

 

(c)          
The following is hereby waived:  diligence, presentment, demand of payment, filing of claims with a court in the event
of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all
demands whatsoever.

 

(d)          
This Note Guarantee will not be discharged except by complete performance of the obligations contained in the Notes and
the Thirteenth Supplemental Indenture, and the Guaranteeing Subsidiary accepts all obligations of a Guarantor under the Thirteenth
Supplemental Indenture.

 

(e)          
If any Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantors, or any custodian,
trustee, liquidator or other similar official acting in relation to either the Company or the Guarantors, any amount paid by either
to the Trustee or such Holder, this Note Guarantee, to the extent theretofore discharged, will be reinstated in full force and
effect.

 

(f)           
The Guaranteeing Subsidiary will not be entitled to any right of subrogation in relation to the Holders in respect of any
obligations guaranteed hereby until payment in full of all obligations guaranteed hereby.

 

(g)          
As between the Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of
the obligations guaranteed hereby may be accelerated as provided in Article 6 of the Thirteenth Supplemental Indenture for the
purposes of this Note Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect
of the obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of such obligations as provided
in Article 6 of the Thirteenth Supplemental Indenture, such obligations (whether or not due and payable) will forthwith become
due and payable by the Guarantors for the purpose of this Note Guarantee.

 

(h)          
The Guarantors will have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right
does not impair the rights of the Holders under the Note Guarantee.

 

(i)            
Pursuant to Section 10.02 of the Thirteenth Supplemental Indenture, after giving effect to any maximum amount and all other
contingent and fixed liabilities that are relevant under any applicable Bankruptcy or fraudulent conveyance laws, and after giving
effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Guarantor in
respect of the obligations of such other Guarantor under Article 10 of the Thirteenth Supplemental Indenture, this new Note Guarantee
will be limited to the maximum amount permissible such that the obligations of such Guarantor under this Note Guarantee will not
constitute a fraudulent transfer or conveyance.

 

3.            
Execution and Delivery. Each Guaranteeing Subsidiary agrees that the Note Guarantees will remain in full force and
effect notwithstanding any failure to endorse on each Note a notation of such Note Guarantee.

 

4.            
Guaranteeing Subsidiary may Consolidate, etc. on Certain Terms.

 

(a)          
The Guaranteeing Subsidiary may not sell or otherwise dispose of all substantially all of its assets to, or consolidate
with or merge with or into (whether or not such Guarantor is the surviving Person) another Person, other than the Company or another
Guarantor unless:

 

(i)            
immediately after giving effect to such transaction, no Default or Event of Default exists; and

 

    B-2

     

    

 

(ii)           
 either (A) subject to Sections 10.04 and 10.05 of the Thirteenth Supplemental Indenture, the Person acquiring the
assets in any such sale or disposition or the Person formed by or surviving any such consolidation or merger unconditionally assumes
all the obligations of that Guarantor, pursuant to a supplemental indenture, under the Notes, the Thirteenth Supplemental Indenture
and the Note Guarantee on the terms set forth herein or therein; or (B) such sale or other disposition (including by merger or
consolidation) does not violate the applicable provisions of the Thirteenth Supplemental Indenture.

 

(b)          
In case of any such consolidation, merger, sale or conveyance and upon the assumption by the successor Person, by supplemental
indenture, executed and delivered to the Trustee, of the Note Guarantee endorsed upon the Notes and the due and punctual performance
of all of the covenants and conditions of the Thirteenth Supplemental Indenture to be performed by the Guarantor, such successor
Person will succeed to and be substituted for the Guarantor with the same effect as if it had been named herein as a Guarantor.
Such successor Person thereupon may cause to be signed any or all of the Note Guarantees to be endorsed upon all of the Notes issuable
under the Thirteenth Supplemental Indenture which theretofore will not have been signed by the Company and delivered to the Trustee.
All the Note Guarantees so issued will in all respects have the same legal rank and benefit under the Thirteenth Supplemental Indenture
as the Note Guarantees theretofore and thereafter issued in accordance with the terms of the Thirteenth Supplemental Indenture
as though all of such Note Guarantees had been issued at the date of the execution hereof.

 

(c)           
Except as set forth in Articles 4 and 5 and Section 10.05 of Article 10 of the Thirteenth Supplemental Indenture, and notwithstanding
clauses (a) and (b) above, nothing contained in the Thirteenth Supplemental Indenture or in any of the Notes will prevent any consolidation
or merger of a Guarantor with or into the Company or another Guarantor, or will prevent any sale or conveyance of the property
of a Guarantor as an entirety or substantially as an entirety to the Company or another Guarantor.

 

5.             
Releases.

 

(a)          
In the event of any sale or other disposition of all or substantially all of the assets of any Guarantor, by way of merger,
consolidation or otherwise, or a sale or other disposition of all of the capital stock of any Guarantor, in each case to a Person
that is not (either before or after giving effect to such transaction) a Subsidiary of the Company, then such Guarantor (in the
event of a sale or other disposition, by way of merger, consolidation or otherwise, of all of the capital stock of such Guarantor)
or the corporation acquiring the property (in the event of a sale or other disposition of all or substantially all of the assets
of such Guarantor) will be released and relieved of any obligations under its Note Guarantee; provided that such sale or
other disposition does not violate the applicable provisions of the Supplemental Indenture. Upon delivery by the Company to the
Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect that such sale or other disposition was made
by the Company in accordance with the provisions of the Thirteenth Supplemental Indenture, the Trustee will execute any documents
(in form and substance reasonably acceptable to the Trustee) reasonably required in order to evidence the release of any Guarantor
from its obligations under its Note Guarantee.

 

(b)          
Any Guarantor not released from its obligations under its Note Guarantee will remain liable for the full amount of principal
of and interest on the Notes and for the other obligations of any Guarantor under the Thirteenth Supplemental Indenture as provided
in Article 10 of the Thirteenth Supplemental Indenture.

 

6.             
No Recourse Against Others. No past, present or future director, officer, employee, incorporator, stockholder or
agent of the Guaranteeing Subsidiary, as such, will have any liability for any obligations of the Company or any Guaranteeing Subsidiary
under the Notes, any Note Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or
by reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability.
The waiver and release are part of the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities
under the federal securities laws and it is the view of the SEC that such a waiver is against public policy.

 

7.            
 New York Law to Govern. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL
INDENTURE BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS
OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

8.            
Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy will be
an original, but all of them together represent the same agreement.

 

9.            
Effect of Headings. The Section headings herein are for convenience only and will not affect the construction hereof.

 

10.          
The Trustee. The Trustee will not be responsible in any manner whatsoever for or in respect of the validity or sufficiency
of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by
the Guaranteeing Subsidiary and the Company.

 

    B-3

     

    

 

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

 

 

	Dated: __________, 20 ___	 
	 	 
	 	[GUARANTEEING SUBSIDIARY]
	 	 
	 	By:	             
	 	Name:
	 	Title:
	 	 
	`	BALL CORPORATION
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
	 	 
	 	By:	 
	 	Authorized Signatory
	 	 
	 	By:	 
	 	Authorized Signatory

 

    B-4

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