Document:

Exhibit 4.11

 

PROFESSIONAL
DIVERSITY NETWORK, INC.

 

TO

 

AS
TRUSTEE

 

INDENTURE

 

DATED
AS OF                       ,
20

 

SUBORDINATED
DEBT SECURITIES

 

    	 

    	 

    

 

TABLE
OF CONTENTS

 

	 	 	Page 
	 	 	 
	ARTICLE 1 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	1
	 	 	 
	Section 1.1	Definitions	1
	Section 1.2	Compliance Certificates and Opinions	8
	Section 1.3	Form of Documents Delivered to Trustee	8
	Section 1.4	Acts of Holders; Record Dates	9
	Section 1.5	Notices, etc., to Trustee and Company	10
	Section 1.6	Notice to Holders; Waiver	10
	Section 1.7	Conflict with Trust Indenture Act	10
	Section 1.8	Effect of Headings and Table of Contents	10
	Section 1.9	Successors and Assigns	11
	Section 1.10	Severability Clause	11
	Section 1.11	Benefits of Indenture	11
	Section 1.12	Governing Law	11
	Section 1.13	Legal Holidays	11
	Section 1.14	Indenture and Securities Solely Corporate Obligations	11
	Section 1.15	Indenture May be Executed in Counterparts	11
	 	 	 
	ARTICLE 2 SECURITY FORMS	12
	 	 	 
	Section 2.1	Forms Generally	12
	Section 2.2	Form of Legend for Global Securities	12
	Section 2.3	Form of Trustee’s Certificate of Authentication	12
	 	 	 
	ARTICLE 3 THE SECURITIES	13
	 	 	 
	Section 3.1	Amount Unlimited; Issuable in Series	13
	Section 3.2	Denominations	15
	Section 3.3	Execution, Authentication, Delivery and Dating	15
	Section 3.4	Temporary Securities	16
	Section 3.5	Registration; Registration of Transfer and Exchange; Global Securities	17
	Section 3.6	Mutilated, Destroyed, Lost and Stolen Securities	18
	Section 3.7	Payment of Interest; Interest Rights Preserved	18
	Section 3.8	Persons Deemed Owners	19
	Section 3.9	Cancellation	19
	Section 3.10	Computation of Interest	19
	 	 	 
	ARTICLE 4 SATISFACTION AND DISCHARGE	20
	 	 	 
	Section 4.1	Satisfaction and Discharge of Indenture	20
	Section 4.2	Application of Trust Money	20
	 	 	 
	ARTICLE 5 DEFAULTS AND REMEDIES	21
	 	 	 
	Section 5.1	Events of Default	21
	Section 5.2	Acceleration of Maturity; Rescission and Annulment	22
	Section 5.3	Collection of Indebtedness and Suits for Enforcement by Trustee	23

 

    	i

    	 

    

  

TABLE
OF CONTENTS

(continued)

 

	 	 	Page
	 	 	 
	Section 5.4	Trustee May File Proofs of Claim	23
	Section 5.5	Trustee May Enforce Claims Without Possession of Securities	24
	Section 5.6	Application of Money Collected	24
	Section 5.7	Limitation on Suits	24
	Section 5.8	Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert	25
	Section 5.9	Restoration of Rights and Remedies	25
	Section 5.10	Rights and Remedies Cumulative	25
	Section 5.11	Delay or Omission Not Waiver	25
	Section 5.12	Control by Holders	25
	Section 5.13	Waiver of Past Defaults	26
	Section 5.14	Undertaking for Costs	26
	Section 5.15	Waiver of Usury, Stay or Extension Laws	26
	 	 	 
	ARTICLE 6 THE TRUSTEE	27
	 	 	 
	Section 6.1	Certain Duties and Responsibilities	27
	Section 6.2	Notice of Defaults	27
	Section 6.3	Certain Rights of Trustee	27
	Section 6.4	Not Responsible for Recitals or Issuance of Securities	28
	Section 6.5	May Hold Securities and Act as Trustee under Other Indentures	28
	Section 6.6	Money Held in Trust	28
	Section 6.7	Compensation and Reimbursement	28
	Section 6.8	Conflicting Interests	29
	Section 6.9	Corporate Trustee Required; Eligibility	29
	Section 6.10	Resignation and Removal; Appointment of Successor	29
	Section 6.11	Acceptance of Appointment by Successor	30
	Section 6.12	Merger, Conversion, Consolidation or Succession to Business	31
	Section 6.13	Preferential Collection of Claims Against Company	31
	Section 6.14	Appointment of Authenticating Agent	31
	 	 	 
	ARTICLE 7 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY	33
	 	 	 
	Section 7.1	Company to Furnish Trustee Names and Addresses of Holders	33
	Section 7.2	Preservation of Information; Communications to Holders	33
	Section 7.3	Reports by Trustee	33
	Section 7.4	Reports by Company	33
	 	 	 
	ARTICLE 8 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	34
	 	 	 
	Section 8.1	Company May Consolidate, etc., Only on Certain Terms	34
	Section 8.2	Successor Substituted	34
	 	 	 
	ARTICLE 9 SUPPLEMENTAL INDENTURES	35
	 	 	 
	Section 9.1	Supplemental Indentures Without Consent of Holders	35
	Section 9.2	Supplemental Indentures with Consent of Holders	36
	Section 9.3	Execution of Supplemental Indentures	37

 

    	ii

    	 

    

 

TABLE
OF CONTENTS

(continued)

 

	 	 	Page
	 	 	 
	Section 9.4	Effect of Supplemental Indentures	37
	Section 9.5	Conformity with Trust Indenture Act	37
	Section 9.6	Reference in Securities to Supplemental Indentures	37
	Section 9.7	Subordination Unimpaired	37
	 	 	 
	ARTICLE 10 COVENANTS	37
	 	 	 
	Section 10.1	Payment of Principal, Premium and Interest	37
	Section 10.2	Maintenance of Office or Agency	37
	Section 10.3	Money for Securities Payments To Be Held in Trust; Paying Agents	38
	Section 10.4	Statement by Officers as to Default	39
	Section 10.5	Existence	39
	Section 10.6	Waiver of Certain Covenants	39
	 	 	 
	ARTICLE 11 REDEMPTION OF SECURITIES	39
	 	 	 
	Section 11.1	Applicability of Article	39
	Section 11.2	Election to Redeem; Notice to Trustee	39
	Section 11.3	Selection by Trustee of Securities to Be Redeemed	39
	Section 11.4	Notice of Redemption	40
	Section 11.5	Deposit of Redemption Price	41
	Section 11.6	Securities Payable on Redemption Date	41
	Section 11.7	Securities Redeemed in Part	41
	 	 	 
	ARTICLE 12 SINKING FUNDS	42
	 	 	 
	Section 12.1	Applicability of Article	42
	Section 12.2	Satisfaction of Sinking Fund Payments with Securities	42
	Section 12.3	Redemption of Securities for Sinking Fund	42
	 	 	 
	ARTICLE 13 DEFEASANCE AND COVENANT DEFEASANCE	42
	 	 	 
	Section 13.1	Company’s Option to Effect Defeasance or Covenant Defeasance	42
	Section 13.2	Defeasance and Discharge	42
	Section 13.3	Covenant Defeasance	43
	Section 13.4	Conditions to Defeasance or Covenant Defeasance	43
	Section 13.5	Deposited Money, U.S. Government Obligations and Foreign Government Obligations to be Held in Trust; Miscellaneous Provisions	45
	Section 13.6	Reinstatement	45
	 	 	 
	ARTICLE 14 CONVERSION OF SECURITIES	46
	 	 	 
	Section 14.1	Conversion	46
	 	 	 
	ARTICLE 15 SUBORDINATION OF SECURITIES	46
	 	 	 
	Section 15.1	Agreement of Subordination	46
	Section 15.2	Payments to Holders	46
	Section 15.3	Subrogation of Securities	48

 

    	iii

    	 

    

 

TABLE
OF CONTENTS

(continued)

 

	 	 	Page
	 	 	 
	Section 15.4	Authorization to Effect Subordination	49
	Section 15.5	Notice to Trustee	49
	Section 15.6	Trustee’s Relation to Senior Debt.	50
	Section 15.7	No Impairment of Subordination	50
	Section 15.8	Certain Conversions/Exchanges Deemed Payment	50
	Section 15.9	Article Applicable to Paying Agents	50
	Section 15.10	Senior Debt Entitled to Rely	50
	Section 15.11	Reliance on Judicial Order or Certificate of Liquidating Agent	51
	Section 15.12	Trust Monies Not Subordinated	51

 

    	iv

    	 

    

 

 

PROFESSIONAL
DIVERSITY NETWORK, INC.

 

Certain
Sections of this Indenture relating to Sections 310 through 318, inclusive, of the Trust Indenture Act of 1939:

 

	Section 310(a)(1)	 	6.9
	                   (a)(2)	 	6.9
	                   (a)(3)	 	Not
    Applicable
	                   (a)(4)	 	Not
    Applicable
	                   (b)	 	6.8,
    6.10
	Section 311(a)	 	6.13
	                   (b)	 	6.13
	Section 312(a)	 	7.1,
    7.2
	                   (b)	 	7.2
	                   (c)	 	7.2
	Section 313(a)	 	7.3
	                   (b)	 	7.3
	                   (c)	 	7.3
	                   (d)	 	7.3
	Section 314(a)	 	7.4
	                   (a)(4)	 	10.1,
    10.4
	                   (b)	 	Not
    Applicable
	                   (c)(1)	 	1.2
	                   (c)(2)	 	1.2
	                   (c)(3)	 	Not
    Applicable
	                   (d)	 	Not
    Applicable
	                   (e)	 	1.2
	Section 315(a)	 	6.1
	                   (b)	 	6.2
	                   (c)	 	6.1
	                   (d)	 	6.1
	                   (e)	 	5.14
	Section 316(a)	 	1.1
	                   (a)(1)(A)	 	5.2,
    5.12
	                   (a)(1)(B)	 	5.13
	                   (a)(2)	 	Not
    Applicable
	                   (b)	 	5.8
	                   (c)	 	1.4
	Section 317(a)(1)	 	5.3
	                   (a)(2)	 	5.4
	                   (b)	 	10.3
	Section 318(a)	 	1.7

 

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

 

    	v

    	 

    

 

INDENTURE,
dated as of                         ,
20    , between PROFESSIONAL DIVERSITY NETWORK, INC., a corporation duly organized and existing under the
laws of the State of Delaware (herein called the “Company”), having its principal executive office at 801 W. Adams
Street, Sixth Floor, Chicago, Illinois 60607, and                     ,
as Trustee (herein called the “Trustee”).

 

RECITALS
OF THE COMPANY

 

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

 

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

 

The
Indenture is subject to, and will be governed by, the provisions of the Trust Indenture Act that are required to be a part of
and govern indentures qualified under the Trust Indenture Act.

 

NOW,
THEREFORE, THIS INDENTURE WITNESSETH:

 

For
and in consideration of the premises and the purchases of the Securities by the Holders thereof, it is mutually covenanted and
agreed, for the benefit of the Company and the equal and proportionate benefit of all Holders of the Securities or of series thereof
appertaining, as follows:

 

ARTICLE 1

 

DEFINITIONS
AND OTHER PROVISIONS OF GENERAL APPLICATION

 

Section 1.1           
Definitions.

 

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

 

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

 

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

 

(3)          
all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting
principles in the United States of America, and, except as otherwise herein expressly provided, the term “generally accepted
accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting principles
in the United States of America as are generally accepted at the date of such computation;

 

(4)          
all references to “$” refer to the lawful currency of the United States of America;

 

(5)          
unless the context otherwise requires, any reference to an “Article” or a “Section” refers to an Article or
a Section, as the case may be, of this Indenture; and

 

(6)          
the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this
Indenture as a whole and not to any particular Article, Section or other subdivision.

 

“Act,”
when used with respect to any Holder, has the meaning specified in Section 1.4.

 

“Additional
Interest” has the meaning specified in Section 5.2(b).

 

    	1

    	 

    

 

“Affiliate”
of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person.

 

“Authenticating
Agent” means any Person authorized by the Trustee pursuant to Section 6.14 to act on behalf of the Trustee to authenticate
Securities of one or more series.

 

“Board
of Directors” means the board of directors of the Company or any duly authorized committee of that board.

 

“Board
Resolution” means, with respect to the Company, a copy of a resolution certified by the Secretary or an Assistant Secretary
of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification,
and delivered to the Trustee.

 

“Business
Day,” when used with respect to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday which is
not a day on which banking institutions in that Place of Payment are authorized or obligated by law or executive order or governmental
decree to be closed.

 

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

 

“Common
Stock” includes any stock of any class of the Company which has no preference in respect of dividends or of amounts payable
in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the Company and which is not subject to
redemption by the Company; provided, however, subject to the provisions of Article 14 and any indenture supplemental hereto, shares
issuable upon conversion of Securities shall include only shares of the class designated as Common Stock of the Company at the
date of this Indenture or shares of any class or classes resulting from any reclassification or reclassifications thereof and
which have no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation,
dissolution or winding-up of the Company and which are not subject to redemption by the Company.

 

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

 

“Company
Request” or “Company Order” means a written request or order signed in the name of the Company by any of its
Chairman of the Board, its Vice Chairman of the Board, its Chief Executive Officer, its President, any Vice President or any executive
officer, its principal financial officer, its principal accounting officer, its Treasurer, any Assistant Treasurer, its Secretary
or any Assistant Secretary, and delivered to the Trustee.

 

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

 

“Corporate
Trust Office” means the office of the Trustee at                                                      , Attention:  Corporate Trust Department, or such other office, designated by the Trustee by
written notice to the Company, at which at any particular time its corporate trust business shall be administered.

 

“corporation”
means a corporation, association, company, joint-stock company or business trust.

 

“Covenant
Defeasance” has the meaning specified in Section 13.3.

 

“Defaulted
Interest” has the meaning specified in Section 3.7.

 

“Defeasance”
has the meaning specified in Section 13.2.

 

    	2

    	 

    

 

“Depositary”
means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global Securities, a
clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated
by Section 3.1.

 

“Designated
Senior Debt” means the Company’s obligations under any particular Senior Debt in which the instrument creating or
evidencing the same or the assumption or guarantee thereof (or related agreements or documents to which the Company is a party)
expressly provides that such Senior Debt shall be “Designated Senior Debt” for purposes of this Indenture (provided,
that such instrument, agreement or other document may place limitations and conditions on the right of such Senior Debt to
exercise the rights of Designated Senior Debt).  If any payment made to any holder of any Designated Senior Debt or its Representative
with respect to such Designated Senior Debt is rescinded or must otherwise be returned by such holder or Representative upon the
insolvency, bankruptcy or reorganization of the Company or otherwise, the reinstated Indebtedness of the Company arising as a
result of such rescission or return shall constitute Designated Senior Debt effective as of the date of such rescission or return.

 

“euro”
or “euros” means the currency adopted by those nations participating in the third stage of the economic and monetary
union provisions of the Treaty on European Union, signed at Maastricht on February 7, 1992.

 

“European
Economic Area” means the member nations of the European Economic Area pursuant to the Oporto Agreement on the European Economic
Area dated May 2, 1992, as amended.

 

“European
Union” means the member nations of the European Union established by the Treaty of European Union, signed at Maastricht
on February 7, 1992, which amended the Treaty of Rome establishing the European Community.

 

“Event
of Default” has the meaning specified in Section 5.1.

 

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

 

“Expiration
Date” has the meaning specified in Section 1.4.

 

“Foreign
Government Obligation” means with respect to Securities of any series which are not denominated in the currency of the United
States of America (x) any security which is (i) a direct obligation of the government which issued or caused to be issued
the currency in which such security is denominated and for the payment of which obligations its full faith and credit is pledged
or, with respect to Securities of any series which are denominated in euros, a direct obligation of any member nation of the European
Union for the payment of which obligation the full faith and credit of the respective nation is pledged so long as such nation
has a credit rating at least equal to that of the highest rated member nation of the European Economic Area, or (ii) an obligation
of a Person controlled or supervised by and acting as an agency or instrumentality of a government specified in clause (i) above
the payment of which is unconditionally guaranteed as a full faith and credit obligation by the such government, which, in either
case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt
issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any Foreign Government
Obligation which is specified in clause (x) above and held by such bank for the account of the holder of such depositary
receipt, or with respect to any specific payment of principal of or interest on any Foreign Government Obligation which is so
specified and held, provided that (except as required by law) such custodian is not authorized to make any deduction from
the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the Foreign
Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt.

 

“Global
Security” means, with respect to any series of Securities, a Security executed by the Company and delivered by the Trustee
to the Depositary or held by the Trustee as custodian for the Depositary pursuant to a safekeeping agreement with the Depositary,
all in accordance with the Indenture, which shall be registered in global form without interest coupons in the name of the Depositary
or its nominee.

 

    	3

    	 

    

 

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

 

“Indebtedness”
means, with respect to any Person, and without duplication, whether absolute or contingent, secured or unsecured, due or to become
due, (a) all indebtedness, obligations and other liabilities (contingent or otherwise) of such Person evidenced by a credit
or loan agreement, note, bond, debenture, or other written obligation (whether or not the recourse of the lender is to the whole
of the assets of such person or to only a portion thereof) or for money borrowed (including obligations of such Person in respect
of overdrafts, foreign exchange contracts, currency exchange agreements, interest rate protection agreements, and any loans or
advances from banks, whether or not evidenced by notes or similar instruments); (b) all obligations and liabilities (contingent
or otherwise) of such Person evidenced by a note or similar instrument given in connection with the acquisition of any businesses,
properties or assets of any kind; (c) all obligations and liabilities (contingent or otherwise) in respect of leases of such
Person required, in conformity with generally accepted accounting principles, to be accounted for as capitalized lease obligations
on the balance sheet of such Person and all obligations and other liabilities (contingent or otherwise) or as lessee under any
leases or related documents for facilities, capital equipment or related assets, whether or not capitalized, entered into or leased
for financing purposes; (d) all obligations of such Person (contingent or otherwise) with respect to interest rate and currency
swaps, caps, floors, collars, hedge agreements, forward contracts or similar agreements or arrangements; (e) all obligations
and other liabilities (contingent or otherwise) of such Person with respect to letters of credit, bankers’ acceptances or
similar facilities, including reimbursement obligations with respect to the foregoing; (f) all obligations and liabilities
of such Person or assumed as the deferred purchase price of property or services, but excluding trade accounts payable and accrued
liabilities arising in the ordinary course of business; (g) all obligations of the type referred to in (a) through (f) above
of another Person the payment of which, in either case, such Person has assumed or guaranteed or for which such Person is responsible
or liable directly or indirectly, jointly or severally, as obligor, guarantor or otherwise, or which are secured by a lien on
such Person’s property; and (h) any and all renewals, extensions, modifications, replacements, restatements and refundings
of, or, any indebtedness or obligation issued in exchange for, any such indebtedness or obligation of the kind described in clauses
(a) through (g) above.

 

“Indenture”
means this instrument as originally executed and as it may from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument
and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this
instrument and any such supplemental indenture, respectively.  The term “Indenture” shall also include the terms
of particular series of Securities established as contemplated by Section 3.1; provided, however, that if at
any time more than one Person is acting as Trustee under this Indenture due to the appointment of one or more separate Trustees
for any one or more separate series of Securities, “Indenture” shall mean, with respect to such series of Securities
for which any such Person is Trustee, this instrument as originally executed or as it may from time to time be supplemented or
amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include
the terms of particular series of Securities for which such Person is Trustee established as contemplated by Section 3.1,
exclusive, however, of any provisions or terms which relate solely to other series of Securities for which such Person is not
Trustee, regardless of when such terms or provisions were adopted, and exclusive of any provisions or terms adopted by means of
one or more indentures supplemental hereto executed and delivered after such Person had become such Trustee, but to which such
person, as such Trustee, was not a party; provided, further that in the event that this Indenture is supplemented
or amended by one or more indentures supplemental hereto which are only applicable to certain series of Securities, the term “Indenture”
for a particular series of Securities shall only include the supplemental indentures applicable thereto.

 

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

 

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

 

“Investment
Company Act” means the Investment Company Act of 1940 and any statute successor thereto, in each case as amended from time
to time.

 

    	4

    	 

    

 

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

or
by declaration of acceleration, repurchase at the option of the Holder, upon redemption or otherwise.

 

“Non-Payment
Default” has the meaning specified in Section 15.2.

 

“Notice
of Default” means a written notice of the kind specified in Section 5.1(4).

 

“Officers’
Certificate” means a certificate signed by any of its Chairman of the Board, its Vice Chairman of the Board, its Chief Executive
Officer, its President, any Vice President, its Chief Financial Officer, its Treasurer, an Assistant Treasurer, its Secretary
or an Assistant Secretary, and delivered to the Trustee.  The officer signing an Officers’ Certificate given pursuant
to Section 10.4 shall be the principal executive, financial or accounting officer of the Company.

 

“Opinion
of Counsel” means a written opinion of counsel, who may be counsel for, or an employee of, the Company.

 

“Original
Issue Discount Security” means any Security that provides for an amount less than the principal amount thereof to be due
and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2.

 

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

 

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

 

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

 

(3)          
Securities as to which Defeasance has been effected pursuant to Section 13.2; and

 

(4)          
Securities which have been paid pursuant to Section 3.6 or in exchange for or in lieu of which other Securities have
been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall
have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose
hands such Securities are valid obligations of the Company; provided, however, that in determining whether the
Holders of the requisite principal amount of the Outstanding Securities have given, made or taken any request, demand,
authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of
an Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount of the principal thereof
which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to
Section 5.2, (B) if, as of such date, the principal amount payable at the Stated Maturity of a Security is not
determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified
or determined as contemplated by Section 3.1, (C) the principal amount of a Security denominated in one or more
non-U.S. dollar currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent,
determined as of such date in the manner provided as contemplated by Section 3.1, of the principal amount of such
Security (or, in the case of a Security described in clause (A) or (B) above, of the amount determined as
provided in such clause), and (D) Securities owned by the Company or any Affiliate of the Company shall be disregarded
and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such
request, demand, authorization, direction, notice, consent, waiver or other action, only Securities which the Trustee knows
to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to
such Securities and that the pledgee is not the Company or any Affiliate of the Company.

 

    	5

    	 

    

 

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

 

“Payment
Blockage Notice” has the meaning specified in Section 15.2.

 

“Payment
Default” has the meaning specified in Section 15.2.

 

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

 

“Place
of Payment,” when used with respect to the Securities of any series, means the place or places where the principal of and
any premium and interest on the Securities of that series are payable as specified as contemplated by Section 3.1.

 

“Predecessor
Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that
evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under
Section 3.6 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the
same debt as the mutilated, destroyed, lost or stolen Security.

 

“Prospectus”
means the prospectus (including any prospectus supplement) used with respect to the offer and sale of the Securities of any series.

 

“Record
Date” means any Regular Record Date or Special Record Date.

 

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

 

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

 

“Regular
Record Date” for the interest payable on any Interest Payment Date on the Securities of any series means the date specified
for that purpose as contemplated by Section 3.1.

 

“Reporting
Default” has the meaning specified in Section 5.2(b).

 

“Representative”
means the (a) indenture trustee or other trustee, agent or representative for any Senior Debt or (b) with respect to
any Senior Debt that does not have any such trustee, agent or other representative, (i) in the case of such Senior Debt issued
pursuant to an agreement providing for voting arrangements as among the holders or owners of such Senior Debt, any holder or owner
of such Senior Debt acting with the consent of the required persons necessary to bind such holders or owners of such Senior Debt
and (ii) in the case of all other such Senior Debt, the holder or owner of such Senior Debt.

 

“Responsible
Officer” means, when used with respect to the Trustee, any officer of the Trustee in the Corporate Trust Office assigned
and duly authorized by the Trustee to administer its corporate trust matters.

 

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

 

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

 

“Security
Register” and “Security Registrar” have the respective meanings specified in Section 3.5.

 

    	6

    	 

    

 

“Senior
Debt” means the principal of, premium, if any, interest (including all interest accruing subsequent to the commencement
of any bankruptcy or similar proceeding, whether or not a claim for post-petition interest is allowable as a claim in any such
proceeding) and rent payable on or in connection with, and all fees, costs, expenses and other amounts accrued or due on or in
connection with, Indebtedness of the Company, whether outstanding on the date of this Indenture or thereafter created, incurred,
assumed, guaranteed or in effect guaranteed by the Company (including all deferrals, renewals, extensions or refundings of, or
amendments, modifications or supplements to, the foregoing), unless in the case of any particular Indebtedness the instrument
creating or evidencing the same or the assumption or guarantee thereof expressly provides that such Indebtedness shall not be
senior in right of payment to the Securities or expressly provides that such Indebtedness is “pari passu” or
“ junior” to the Securities.  Notwithstanding the foregoing, the term Senior Debt shall not include any Indebtedness
of the Company to any Subsidiary of the Company.  If any payment made to any holder of any Senior Debt or its Representative
with respect to such Senior Debt is rescinded or must otherwise be returned by such holder or Representative upon the insolvency,
bankruptcy or reorganization of the Company or otherwise, the reinstated Indebtedness of the Company arising as a result of such
rescission or return shall constitute Senior Debt effective as of the date of such rescission or return.

 

“Special
Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.7.

 

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

 

“Subsidiary”
means a Person of which at least a majority of the outstanding voting stock having the power to elect a majority of the board
of directors of such Person (in the case of a corporation) is, or of which at least a majority of the equity interests (in the
case of a Person which is not a corporation) are, at the time owned, directly or indirectly, by the Company or by one or more
other Subsidiaries, or by the Company and one or more other Subsidiaries.  For the purposes of this definition, “voting
stock” means stock or similar interests which ordinarily has or have voting power for the election of directors or persons
performing similar functions, whether at all times or only so long as no senior class of stock or other interests has or have
such voting power by reason of any contingency.

 

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

 

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

 

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

  

    	7

    	 

    

 

“Vice
President” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by
a number or a word or words added before or after the title “Vice President”.

 

Section 1.2           
Compliance Certificates and Opinions.

 

Upon
any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company
shall furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture Act.  Each such
certificate or opinion shall be given in the form of an Officers’ Certificate, if to be given by an officer of the Company,
or an Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any
other requirements set forth in this Indenture.

 

Every
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include:

 

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

 

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

 

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

 

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

 

Section 1.3           
Form of Documents Delivered to Trustee.

 

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

 

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

 

Any
such certificate or opinion of an officer of the Company or of counsel may be based, insofar as it relates to accounting matters,
upon a certificate or opinion of, or representations by, an accountant or firm of accountants in the employ of the Company, unless
such officer or counsel, as the case may be, knows, that the certificate or opinion or representations with respect to the accounting
matters upon which his or her certificate or opinion are based are erroneous.

 

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

 

    	8

    	 

    

 

Section 1.4           
Acts of Holders; Record Dates.

 

Any
request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to
be given, made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor
signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided,
such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly
required, to the Company. The Trustee shall promptly deliver to the Company copies of any such instrument or instruments delivered
to the Trustee.  Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes
referred to as the “Act” of the Holders signing such instrument or instruments.  Proof of execution of any such
instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 6.1)
conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section.

 

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

 

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

 

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

 

The
Company may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled
to give, make or take any request, demand, authorization, direction, vote, notice, consent, waiver or other action provided or
permitted by this Indenture to be given, made or taken by Holders of Securities of such series. If any record date is set pursuant
to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall
be entitled to take the relevant action, whether or not such Holders remain Holders after such record date; provided that
no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite
principal amount of Outstanding Securities of such series on such record date.  Nothing in this paragraph shall be construed
to prevent the Company from setting a new record date for any action for which a record date has previously been set pursuant
to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be canceled and
of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite
principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record
date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the proposed
action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of
the relevant series in the manner set forth in Section 1.6.

 

With
respect to any record date set pursuant to this Section, the Company may designate any day as the “Expiration Date”
and from time to time may change the Expiration Date to any earlier or later day; provided that no such change shall be
effective unless notice of the proposed new Expiration Date is given to the Trustee in writing, and to each Holder of Securities
of the relevant series in the manner set forth in Section 1.6, on or prior to the existing Expiration Date.  If an Expiration
Date is not designated with respect to any record date set pursuant to this Section, the Company shall be deemed to have initially
designated the 180th day after such record date as the Expiration Date with respect thereto, subject to its right to change the
Expiration Date as provided in this paragraph.  Notwithstanding the foregoing, no Expiration Date shall be later than the
180th day after the applicable record date.

  

    	9

    	 

    

 

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

 

Section 1.5           
Notices, etc., to Trustee and Company.

 

Any
request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by
this Indenture to be made upon, given or furnished to, or filed with:

 

(1)          
the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder  if made, given, furnished or
filed in writing to or with the Trustee at its Corporate Trust Office, Attention: Corporate Trust Department, or

 

(2)          
the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly
provided) if in writing and mailed, first-class postage prepaid, or if personally delivered or if sent via overnight courier to
the Company, in each case addressed to it at the address of its principal office specified in the first paragraph of this instrument
or at any other address previously furnished in writing to the Trustee by the Company, Attention: Chief Financial Officer.

 

Section 1.6           
Notice to Holders; Waiver.

 

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

 

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

 

Section 1.7           
Conflict with Trust Indenture Act.

 

If
any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under the Trust
Indenture Act to be a part of and govern this Indenture with respect to one or more series of Securities, the relevant provision
of the Trust Indenture Act shall control.  If any provision of this Indenture modifies any provision of the Trust Indenture
Act that may be so modified with respect to one or more series of Securities, the relevant provision of the Trust Indenture Act
shall be deemed to apply to this Indenture as so modified.   If any provision of this Indenture excludes any provision
of the Trust Indenture Act that may be so excluded with respect to one or more series of Securities, the relevant provision of
the Trust Indenture Act shall be excluded to the extent permitted by the Trust Indenture Act.

 

Section 1.8           
Effect of Headings and Table of Contents.

 

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

 

    	10

    	 

    

 

Section 1.9           
Successors and Assigns.

 

All
covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not.

 

Section 1.10        
Severability Clause.

 

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

 

Section 1.11        
Benefits of Indenture.

 

Nothing
in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their
successors hereunder, the holders of Senior Debt and the Holders, any benefit or any legal or equitable right, remedy or claim
under this Indenture.

 

Section 1.12        
Governing Law.

 

THIS
INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

Section 1.13        
Legal Holidays.

 

In
any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security or the last date on which a Holder
has the right to convert a Security at a particular conversion price or conversion rate, as the case may be, shall not be a Business
Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities (other than a provision
of any Security which specifically states that such provision shall apply in lieu of this Section)) payment of interest or principal
(and premium, if any) or, if applicable to a particular series of Securities, conversion need not be made at such Place of Payment
on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if
made on the Interest Payment Date or Redemption Date, at the Stated Maturity or on such last day for conversion, as the case may
be.

 

Section 1.14        
Indenture and Securities Solely Corporate Obligations.

 

No
recourse for the payment of the principal of or premium, if any, or interest on any Security, or for any claim based thereon or
otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in this Indenture
or in any supplemental indenture or in any Security, or because of the creation of any indebtedness represented thereby, shall
be had against any incorporator, stockholder, employee, agent, officer, or director or subsidiary, as such, past, present or future,
of the Company or of any successor corporation, either directly or through the Company or any successor corporation, whether by
virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration
for, the execution of this Indenture and the issue of the Securities.

 

Section 1.15        
Indenture May be Executed in Counterparts.

 

This
instrument may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one and the same instrument.

 

    	11

    	 

    

 

ARTICLE
2

 

SECURITY
FORMS

 

Section 2.1           
Forms Generally

 

The
Securities of each series shall be in substantially such form as shall be established by or pursuant to a Board Resolution and
as set forth in such Board Resolution (including such terms as set forth in any form of Securities for each series approved by
such Board Resolution) or, to the extent established pursuant to rather than set forth in a Board Resolution, in an Officers’
Certificate detailing such establishment (including any exhibit attached thereto), or in one or more indentures supplemental hereto,
in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this
Indenture, and may have such letters, numbers or other marks of identification and such legends, notations or endorsements placed
thereon as may be required to comply with any law, rules or regulations, or with the rules of any securities exchange or
Depositary therefor or to conform to general usage, all as may, consistently herewith, be determined by the officers executing
such Securities, as evidenced by their execution thereof. If the form of Securities of any series is established by action taken
pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant
Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 3.3
for the authentication and delivery of such Securities.  Any such Board Resolution or record of such action shall have attached
thereto a true and correct copy of the form of Security referred to therein approved by or pursuant to such Board Resolution.

 

The
definitive Securities shall be printed, lithographed typewritten or otherwise reproduced in any other manner, all as determined
by the officer executing such Securities, as evidenced by such officer’s execution of such Securities.

 

Section 2.2           
Form of Legend for Global Securities.

 

Unless
otherwise specified as contemplated by Section 3.1 for the Securities evidenced thereby, every Global Security authenticated
and delivered hereunder shall bear a legend in substantially the following form:

 

THIS
SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE THEREOF.  THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO
TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY
OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 

Section 2.3           
Form of Trustee’s Certificate of Authentication.

 

The
Trustee’s certificates of authentication shall be in substantially the following form:

 

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

 

	 	                                                              ,
	 	as
    Trustee 
	 	 
	 	By:	 
	 	 	                 Authorized
    Officer

 

    	12

    	 

    

 

ARTICLE 3

 

THE
SECURITIES

 

Section 3.1           
Amount Unlimited; Issuable in Series.

 

The
aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited.

 

The
Securities may be issued in one or more series.  There shall be established in or pursuant to a Board Resolution and as set
forth in such Board Resolution (including such terms as set forth in any form of Securities for each series approved by such Board
Resolution) or, to the extent established pursuant to rather than set forth in a Board Resolution, in an Officers’ Certificate
detailing such establishment (including any exhibit attached thereto), or established in one or more indentures supplemental hereto,
prior to the issuance of Securities of any series:

 

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

 

(2)          
any limit upon the aggregate principal amount of the Securities of the series which may be authenticated and delivered under this
Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu
of, other Securities of the series pursuant to Section 3.4, 3.5, 3.6, 9.6 or 11.7 and except for any Securities which, pursuant
to Section 3.3, are deemed never to have been authenticated and delivered hereunder);

 

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

 

(4)          
the date or dates on which the principal of any Securities of the series is payable;

 

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

 

(6)          
the place or places where the principal of and any premium and interest on any Securities of the series shall be payable;

 

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

 

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

 

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

 

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

  

(11)        
if other than the currency of the United States of America, the currency, currencies or currency units in which the principal
of or any premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof
in the currency of the United States of America for any purpose, including for purposes of the definition of “Outstanding”
in Section 1.1;

 

    	13

    	 

    

 

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

 

(13)        
the percentage of the principal amount at which the Securities will be issued, and, if other than the entire principal amount
thereof, the portion of the principal amount of any Securities of the series which shall be payable upon declaration of acceleration
of the Maturity thereof pursuant to Section 5.2;

 

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

 

(15)        
if applicable, that the Securities of the series, in whole or any specified part, shall be defeasible pursuant to Section 13.2
or Section 13.3 or both such Sections, or any other defeasance provisions applicable to any Securities of the series, and,
if other than by a Board Resolution, the manner in which any election by the Company to defease such Securities shall be evidenced;

 

(16)        
if applicable, the terms of any right to convert or exchange Securities of the series;

 

(17)        
if applicable, that any Securities of the series shall be issuable in whole or in part in the form of one or more Global Securities
and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne
by any such Global Security in addition to or in lieu of that set forth in Section 2.2 and any circumstances in addition
to or in lieu of those set forth in clause (2) of the last paragraph of Section 3.5 in which any such Global Security
may be exchanged in whole or in part for Securities registered, and any transfer of such Global Security in whole or in part may
be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof;

 

(18)        
any deletion of or addition to or change in the Events of Default which applies to any Securities of the series and any change
in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable
pursuant to Section 5.2;

 

(19)        
any deletion of or addition to or change in the covenants set forth in Article 10 which applies to Securities of the series;

 

(20)        
any Authenticating Agents, Paying Agents, Security Registrars or such other agents necessary in connection with the issuance of
the Securities of such series, including, without limitation, exchange rate agents and calculation agents;

 

(21)        
if applicable, the terms of any security that will be provided for a series of Securities, including any provisions regarding
the circumstances under which collateral may be released or substituted;

 

(22)        
any provisions granting special rights to holders when a specified event occurs;

 

(23)        
any provisions with respect to any special interest premium or other premium;

 

(24)        
any special tax provisions that apply to any series of Securities;

 

(25)        
with respect to any series of Securities that do not bear interest, the date for any required reports to the Trustee;

 

    	14

    	 

    

 

(26)        
any and all additional, eliminated or changed terms that will apply to such series of Securities;

 

(27)        
any addition to or change in or modification to the subordination provisions of this Indenture relating to the Securities of that
series (including the provisions of Article 15), or different subordination provisions, including a different definition
of “Senior Debt” or “Designated Senior Debt,” that will apply to Securities of the series; and

 

(28)        
any other terms of the series of Securities (which terms shall not be inconsistent with the provisions of this Indenture, except
as permitted by Section 9.1(5)).

 

All
Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided
in or pursuant to the Board Resolution referred to above and (subject to Section 3.3) set forth, or determined in the manner
provided, in the Officers’ Certificate (including any exhibit attached thereto) referred to above or in any such indenture
supplemental hereto.

 

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

 

The
Securities shall be subordinated in right of payment to Senior Debt as provided in Article 15.

 

Section 3.2           
Denominations.

 

The
Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall be
specified as contemplated by Section 3.1.  In the absence of any such specified denomination with respect to the Securities
of any series, the Securities of such series shall be issuable in denominations of $1,000 and any integral multiple thereof.

 

Section 3.3           
Execution, Authentication, Delivery and Dating.

 

The
Securities shall be executed on behalf of the Company by its Chairman of the Board, its Vice Chairman of the Board, its Chief
Executive Officer, its principal financial officer, its principal accounting officer, its President or one of its executive officers,
and attested by its Treasurer, its Secretary or one of its Assistant Treasurers or Assistant Secretaries.  The signature
of any of these officers on the Securities may be manual or facsimile.

 

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

 

At
any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of
such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities.  If
the form or terms of the Securities of the series have been established by or pursuant to one or more Board Resolutions as permitted
by Sections 2.1 and 3.1, in authenticating such Securities, and accepting the additional responsibilities under this Indenture
in relation to such Securities, the

Trustee
shall be entitled to receive, and (subject to Section 6.1) shall be fully protected in relying upon, a certified copy of
such Board Resolution, an Officers’ Certificate or supplemental indenture hereto setting forth the terms of the series and
an Opinion of Counsel (which Opinion of Counsel may contain customary qualifications and exceptions), with such Opinion of Counsel
stating:

 

(1)          
if the form of such Securities has been established by or pursuant to Board Resolution as permitted by Section 2.1, that
such form has been established in conformity with the provisions of this Indenture;

 

    	15

    	 

    

 

(2)          
if the terms of such Securities have been established by or pursuant to Board Resolution as permitted by Section 3.1, that
such terms have been established in conformity with the provisions of this Indenture; and

 

(3)          
that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any
conditions specified in such Opinion of Counsel, will constitute valid and binding obligations of the Company enforceable in accordance
with their terms, subject to bankruptcy, insolvency, fraudulent transfer or conveyance, reorganization, moratorium and similar
laws of general applicability relating to or affecting creditors’ rights and to general principles of equity (regardless
of whether enforceability is considered in a proceeding in equity or at law).

 

Notwithstanding
the provisions of Section 3.1 and of this Section 3.3, if all Securities of a series are not to be originally issued
at one time, it shall not be necessary to deliver an Officers’ Certificate or supplemental indenture otherwise required
pursuant to Section 3.1 or the Company Order and Opinion of Counsel otherwise required pursuant to this Section 3.3
at or prior to the authentication of each Security of such series if such documents are delivered at or prior to the authentication
upon original issuance of the first Security of such series to be issued.

 

Each
Security shall be dated the date of its authentication.

 

No
Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears
on such Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual
signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has
been duly authenticated and delivered hereunder.  Notwithstanding the foregoing, if any Security shall have been authenticated
and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for
cancellation as provided in Section 3.9, for all purposes of this Indenture such Security shall be deemed never to have been
authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture.

 

In
issuing the Securities, the Company may use “CUSIP” numbers, and, if so, the Trustee shall use “CUSIP”
numbers in notices of redemption as a convenience to Holders; provided that neither the Company nor the Trustee shall have any
responsibility for any defect in any CUSIP number that appears on any Security, check, advice of payment or redemption notice,
and any such document may contain a statement to the effect that CUSIP numbers have been assigned by an independent service for
convenience of reference and that neither the Company nor the Trustee shall be liable for any inaccuracy in any such numbers.

 

Section 3.4           
Temporary Securities.

 

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

 

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

 

    	16

    	 

    

 

Section 3.5           
Registration; Registration of Transfer and Exchange; Global Securities.

 

The
Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office
and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the
“Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide
for the registration of Securities and of transfers of Securities.  The Trustee is hereby appointed “Security Registrar”
for the purpose of registering Securities and transfers of Securities as herein provided.

 

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

 

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

 

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

 

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

 

No
service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of
a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer
or exchange of Securities, other than exchanges pursuant to Section 3.4, 9.6 or 11.7 not involving any transfer.

 

If
the Securities of any series (or of any series and specified tenor) are to be redeemed in part, the Company shall not be required
(A) to issue, register the transfer of or exchange any Securities of that series (or of that series and specified tenor,
as the case may be) during a period beginning at the opening of business 15 days before the day of the mailing of a notice
of redemption of any such Securities selected for redemption under Section 11.3 and ending at the close of business on the
day of such mailing, or (B) to register the transfer of or exchange any Security so selected for redemption in whole or in
part, except the unredeemed portion of any Security being redeemed in part.

 

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

 

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

 

(2)          
Notwithstanding any other provision in this Indenture, no Global Security may be exchanged in whole or in part for
Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person
other than the Depositary for such Global Security or a nominee thereof unless (A) such Depositary (i) has notified
the Company that it is unwilling or unable to continue as Depositary for such Global Security or (ii) has ceased to be a
clearing agency registered under the Exchange Act, (B) there shall have occurred and be continuing an Event of Default
with respect to such Global Security or (C) there shall exist such circumstances, if any, in addition to or in lieu of
the foregoing as have been specified for this purpose as contemplated by Section 3.1.

 

    	17

    	 

    

 

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

 

(4)          
Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security
or any portion thereof, whether pursuant to this Section, Section 3.4, 3.6, 9.6 or 11.7 or otherwise, shall be authenticated
and delivered in the form of, and shall be, a Global Security, unless such Security is registered in the name of a Person other
than the Depositary for such Global Security or a nominee thereof.

 

Section 3.6           
Mutilated, Destroyed, Lost and Stolen Securities.

 

If
any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver
in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding.

 

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

 

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

 

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

 

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

 

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

 

Section 3.7           
Payment of Interest; Interest Rights Preserved.

 

Except
as otherwise provided as contemplated by Section 3.1 with respect to any series of Securities, interest on any Security which
is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such
interest.

 

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

 

    	18

    	 

    

 

(1)          
The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or
their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the
amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at
the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid
in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date
of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted
Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest,
which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10
days after the receipt by the Trustee of the notice of the proposed payment.  The Trustee shall promptly notify the Company
of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of
such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner
set forth in Section 1.6, not less than 10 days prior to such Special Record Date.  Notice of the proposed payment of
such Defaulted Interest and the Special Record Date therefor having been so given, such Defaulted Interest shall be paid to the
Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close
of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2).

 

(2)          
The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent
with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required
by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner
of payment shall be deemed practicable by the Trustee.

 

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

 

Section 3.8           
Persons Deemed Owners.

 

Prior
to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment
of principal of and any premium and (subject to Section 3.7) any interest on such Security and for all other purposes whatsoever,
whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall
be affected by notice to the contrary.

 

Section 3.9           
Cancellation.

 

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

 

Section 3.10        
Computation of Interest.

 

Except
as otherwise specified as contemplated by Section 3.1 for Securities of any series, interest on the Securities of each series
shall be computed on the basis of a 360-day year of twelve 30-day months.

 

    	19

    	 

    

 

ARTICLE 4

 

SATISFACTION
AND DISCHARGE

 

Section 4.1           
Satisfaction and Discharge of Indenture.

 

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

 

(1)          
either

 

(A)         
all Securities theretofore authenticated and delivered (other than (i) Securities which have been destroyed, lost or stolen
and which have been replaced or paid as provided in Section 3.6 and (ii) Securities for whose payment money has theretofore
been deposited in trust or segregated and held in trust by the Trustee or the Company and thereafter repaid to the Company or
discharged from such trust, as provided in Section 10.3) have been delivered to the Trustee for cancellation; or

 

(B)         
all such Securities not theretofore delivered to the Trustee for cancellation

 

(i)           
have become due and payable, or

 

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

 

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

 

and
the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust
funds in trust for the purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not
theretofore delivered to the Trustee for cancellation, for principal and any premium and interest to the date of such deposit
(in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be;

 

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

 

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

 

Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.7, the obligations
of the Trustee to any Authenticating Agent under Section 6.14 and, if money shall have been deposited with the Trustee pursuant
to subclause (B) of clause (1) of this Section, the obligations of the Trustee under Section 4.2 and
the last paragraph of Section 10.3 shall survive.

 

Section 4.2           
Application of Trust Money.

 

Subject
to the provisions of the last paragraph of Section 10.3, all money deposited with the Trustee pursuant to
Section 4.1 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this
Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent)
as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose
payment such money has been deposited with the Trustee.

 

    	20

    	 

    

 

ARTICLE 5

 

DEFAULTS
AND REMEDIES

 

Section 5.1           
Events of Default.

 

“Event
of Default,” wherever used herein with respect to Securities of any series, means any one of the following events (whatever
the reason for such Event of Default and whether it shall be occasioned by the provisions of Article 15 or be voluntary or involuntary
or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation
of any administrative or governmental body), unless in the Board Resolution (or an Officers’ Certificate detailing such
establishment pursuant to such Board Resolution) or supplemental indenture establishing such series, it is provided that such
series shall not have the benefit of said Event of Default:

 

(1)          
default in the payment of the principal or the Redemption Price of or any premium on any Security of that series at its Maturity;
or

 

(2)          
default in the payment of any interest upon any Security of that series when it becomes due and payable, and continuance of such
default for a period of 30 days; or

 

(3)          
default in the deposit of any sinking fund payment, when and as due by the terms of a Security of that series; or

 

(4)          
default in the performance, or breach, of any covenant or warranty of the Company in this Indenture (other than a covenant or
warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has
expressly been included in this Indenture solely for the benefit of series of Securities other than that series), and continuance
of such default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company
by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities
of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice
is a “Notice of Default” hereunder; or

 

(5)          
the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company in
an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar
law or (B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition seeking
reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law,
or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of
any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such
decree or order for relief or any such other decree or order unstayed and in effect for a period of 90 consecutive days; or

 

(6)          
the commencement by the Company of a voluntary case or proceeding under any applicable Federal or State bankruptcy,
insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent,
or the consent by it to the entry of a decree or order for relief in respect of the Company in an involuntary case or
proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the
commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or
consent seeking reorganization or relief under any applicable Federal or State law, or the consent by it to the filing of
such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee,
sequestrator or other similar official of the Company or of any substantial part of its property, or the making by it of an
assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as
they become due, or the taking of corporate action by the Company in furtherance of any such action; or

 

    	21

    	 

    

 

(7)          
any other Event of Default provided with respect to Securities of that series in the Board Resolution (or in an Officers’
Certificate detailing such establishment pursuant to such Board Resolution) or supplemental indenture establishing that series.

 

Section 5.2           
Acceleration of Maturity; Rescission and Annulment.

 

(a)          
Unless the Board Resolution (or Officers’ Certificate detailing such establishment pursuant to such Board Resolution) or
supplemental indenture establishing such series provides otherwise, if an Event of Default (other than an Event of Default specified
in Section 5.1(5) or 5.1(6)) with respect to Securities of any series at the time Outstanding occurs and is continuing,
then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that
series may declare the principal amount of all the Securities of that series (or, if any Securities of that series are Original
Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof),
and premium, if any, together with accrued and unpaid interest, if any, thereon, to be due and payable immediately, by a notice
in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or
specified amount), and premium, if any, together with accrued and unpaid interest, if any, thereon, shall become immediately due
and payable. If an Event of Default specified in Section 5.1(5) or 5.1(6) with respect to Securities of any series
at the time Outstanding occurs, the principal amount of all the Securities of that series (or, if any Securities of that series
are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms
thereof), and premium, if any, together with accrued and unpaid interest, if any, thereon, shall automatically, and without any
declaration or other action on the part of the Trustee or any Holder, become immediately due and payable.  Any payments by
the Company on the Securities following any such acceleration will be subject to the subordination provisions of Article 15 to
the extent provided therein.

 

(b)          
Notwithstanding the foregoing, at the election of the Company, the sole remedy with respect to an Event of Default for the failure
by the Company to comply with its obligations under Section 314(a)(1) of the Trust Indenture Act relating to the Company’s
failure to file any documents or reports that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of
the Exchange Act or of its covenants set forth in Section 7.4 (any such Event of Default, a “Reporting Default”),
shall for the first 180 calendar days after the occurrence of such Reporting Default consist exclusively of the right to receive
additional interest (the “Additional Interest”) on the Securities at an annual rate equal to (i) 0.25% of the
principal amount of the Securities for the first 90 calendar days after the occurrence of such Reporting Default and (ii) 0.50%
of the principal amount of the Securities from the 91st day to, and including, the 180th day after the occurrence of
such Reporting Default.  If the Company so elects, the Additional Interest shall accrue on all Outstanding Securities from
and including the date on which such Reporting Default first occurs until such violation is cured or waived and shall be payable
as provided in Section 3.7.  On the 181st day after such Reporting Default (if such violation is not cured or waived
prior to such 181st calendar day), then the Trustee or the Holders of not less than 25% in principal amount of the Outstanding
securities may declare the principal of, and premium, if any, together with accrued and unpaid interest, if any, on all such Securities
to be due and payable immediately.

 

If
the Company elects to pay the Additional Interest as the sole remedy for the Reporting Default, the Company shall notify in writing,
by a certificate, the Holders, the Paying Agent and the Trustee of such election at any time on or before the close of business
on the first Business Day following the date on which such Event of Default first occurs.  Unless and until a Responsible
Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that
Additional Interest is not payable.  The Company shall pay the Additional Interest semi-annually in arrears, with the first
semi-annual payment due on the first Interest Payment Date following the date of such Reporting Default, in the same manner as
described on the face of the Security.

 

    	22

    	 

    

 

(c)          
At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a
judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this
Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written
notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:

 

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

 

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

 

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

 

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

 

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

 

(2)          
all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of
that series that have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13.

 

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

 

Section 5.3           
Collection of Indebtedness and Suits for Enforcement by Trustee.

 

The
Company covenants that if:

 

(1)          
default is made in the payment of the principal or the Redemption Price of (or premium, if any, on) any Security at the Maturity
thereof, or

 

(2)          
default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues
for a period of 30 days,

 

the
Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then
due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest
shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates
prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs
and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel.

 

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

 

Section 5.4           
Trustee May File Proofs of Claim.

 

In
case of any judicial proceeding relative to the Company, its property or its creditors, the Trustee shall be entitled and
empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture
Act in order to have claims of the Holders and the Trustee allowed in any such proceeding.  In particular, the Trustee
shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to
distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in
any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that
the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due 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 6.7.

 

    	23

    	 

    

 

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

 

Section 5.5           
Trustee May Enforce Claims Without Possession of Securities.

 

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

 

Section 5.6           
Application of Money Collected.

 

Any
money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed
by the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation
of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 

FIRST: 
To the payment of all amounts due the Trustee under Section 6.7;

 

SECOND: 
Subject to Article 15, to the payment of the amounts then due and unpaid for principal of and any premium, if any, and interest
on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or
priority of any kind, according to the amounts due and payable on such Securities for principal and any premium, if any, and interest,
respectively; and

 

THIRD: 
The balance, if any, to the Company or any other Person or Persons entitled thereto.

 

Section 5.7           
Limitation on Suits.

 

No
Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to
this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless:

 

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

 

(2)          
the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series shall have made written
request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

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

 

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

 

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

 

    	24

    	 

    

 

it
being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or
by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to
obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture,
except in the manner herein provided and for the equal and ratable benefit of all of such Holders.

 

Section 5.8           
Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert.

 

Notwithstanding
any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of and any premium and (subject to Section 3.7) interest on such Security on the respective
Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date), to convert such Securities
in accordance with Article 14 to the extent that such right to convert is applicable to such Security, and to institute suit
for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder.

 

Section 5.9           
Restoration of Rights and Remedies.

 

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

 

Section 5.10        
Rights and Remedies Cumulative.

 

Except
as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 3.6, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended
to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative
and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.
The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment
of any other appropriate right or remedy.

 

Section 5.11        
Delay or Omission Not Waiver.

 

No
delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of
Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. 
Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time,
and as often as may be deemed expedient, by the Trustee (subject to the limitations contained in this Indenture) or by the Holders,
as the case may be.

 

Section 5.12        
Control by Holders.

 

The
Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred
on the Trustee, with respect to the Securities of such series, provided that:

 

(1)          
such direction shall not be in conflict with any rule of law or with this Indenture and the Trustee shall not have determined
that the action so directed would be unjustly prejudicial to Holders of Securities of that series, or any other series, not taking
part in such direction; and

 

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

 

    	25

    	 

    

 

Section 5.13        
Waiver of Past Defaults.

 

The
Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders
of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except:

 

(1)          
a default in the payment of the principal of or any premium or interest on any Security of such series as and when the same shall
become due and payable by the terms thereof, otherwise than by acceleration (unless such default has been cured and a sum sufficient
to pay all matured installments of interest, principal and premium, if any, has been deposited with the Trustee), or

 

(2)          
to the extent such right is applicable to such Security, a failure by the Company on request to convert any Security into Common
Stock; or

 

(3)          
in respect of a covenant or provision hereof which under Article 9 cannot be modified or amended without the consent of the
Holder of each Outstanding Security of such series affected.

 

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

 

Section 5.14        
Undertaking for Costs.

 

In
any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken,
suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs
of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in the Trust Indenture
Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require
such an undertaking or to make such an assessment in any suit instituted by the Company.

 

The
Section does not apply to a suit by a Holder to enforce payment of principal of or interest on any Security on the respective
due dates, a suit by a Holder to enforce the right to convert in any suit for the enforcement of the right to convert any Security
in accordance with Article 14 to the extent such right to convert is applicable to such Security, or a suit by Holders of
more than 10% in principal amount of the Outstanding Securities.

 

Section 5.15        
Waiver of Usury, Stay or Extension Laws.

 

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

 

    	26

    	 

    

 

ARTICLE 6

 

THE
TRUSTEE

 

Section 6.1           
Certain Duties and Responsibilities.

 

The
duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act and as set forth herein. 
Notwithstanding the foregoing, no provision of this Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its
rights or powers if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against
such risk or liability is not reasonably assured to it.  Whether or not therein expressly so provided, every provision
of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be
subject to the provisions of this Section.

 

Section 6.2           
Notice of Defaults.

 

If
a default occurs hereunder with respect to Securities of any series, the Trustee shall give the Holders of Securities of such
series notice of such default as and to the extent provided by the Trust Indenture Act; provided, however, that
except in the case of a default in the payment of principal or Redemption Price of (or premium, if any) or interest on any Securities
of such series or in the payment of any sinking fund installment or any conversion right applicable to Securities of such series,
the Trustee shall be protected in withholding such notice if and so long as a trust committee of directors and/or Responsible
Officers of the Trustee in good faith determine that the withholding of such notice is in the interests of the holders of Securities
of such series; provided, further, however, that in the case of any default of the character specified in
Section 5.1(4) with respect to Securities of such series, no such notice to Holders shall be given until at least 60
days after the occurrence thereof. For the purpose of this Section, the term “default” means any event that is, or
after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series.

 

Except
with respect to Section 10.1, the Trustee shall have no duty to inquire as to the performance of the Company with respect
to the covenants contained in Article 10.  In addition, the Trustee shall not be deemed to have knowledge of an Event
of Default except (i) any Default or Event of Default occurring pursuant to Sections 5.1(1), 5.1(2) and 5.1(3) (defaults
in payments on the Securities) or (ii) any Default or Event of Default of which a Responsible Officer the Trustee shall have
received written notification or obtained actual knowledge.

 

Delivery
of reports, information and documents to the Trustee under Section 7.4 is for informational purposes only and the Trustee’s
receipt of the foregoing shall not constitute constructive notice of any information contained therein or determinable from information
contained therein, including the Company’s compliance with any of their covenants hereunder (as to which the Trustee is
entitled to rely conclusively on Officers’ Certificates).

 

Section 6.3           
Certain Rights of Trustee.

 

Subject
to the provisions of Section 6.1:

 

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

 

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

 

(3)          
whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior
to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) is
entitled to and may, in the absence of bad faith on its part, rely upon an Officers’ Certificate;

 

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

 

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

 

    	27

    	 

    

 

(6)          
the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, 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; and

 

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

 

Section 6.4           
Not Responsible for Recitals or Issuance of Securities.

 

The
recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as
the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. 
The Trustee makes no representations as to the validity, sufficiency or priority of this Indenture or of the Securities. 
Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of Securities
or the proceeds thereof.

 

Section 6.5           
May Hold Securities and Act as Trustee under Other Indentures.

 

The
Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual
or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 6.8 and 6.13, may otherwise
deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security
Registrar or such other agent.

 

Subject
to the limitations imposed by the Trust Indenture Act, nothing in this Indenture shall prohibit the Trustee from becoming and
acting as trustee under other indentures under which other securities, or certificates of interest of participation in other securities,
of the Company are outstanding in the same manner as if it were not Trustee hereunder.

 

Section 6.6           
Money Held in Trust.

 

Money
held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law.  The
Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company.

 

Section 6.7           
Compensation and Reimbursement.

 

The
Company agrees:

 

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

 

(2)          
except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements
and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation
and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable
to its negligence or bad faith; and

 

    	28

    	 

    

 

(3)          
to indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense incurred without negligence or
bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts
hereunder, including the costs and expenses of defending itself against any claim or liability in connection with the
exercise or performance of any of its powers or duties hereunder.

 

When
the Trustee incurs expenses or renders services after an Event of Default specified in Section 5.1(5) or Section 5.1(6) 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 applicable bankruptcy, insolvency, reorganization or similar law.

 

Section 6.8           
Conflicting Interests.

 

If
the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act and there is an Event of
Default under the Securities of that series, the Trustee shall either eliminate such interest or resign, to the extent and in
the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture.  To the extent permitted
by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under
this Indenture with respect to Securities of more than one series.

 

Section 6.9           
Corporate Trustee Required; Eligibility.

 

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

 

Section 6.10        
Resignation and Removal; Appointment of Successor.

 

No
resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective
until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11.

 

The
Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. 
If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee
within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction
for the appointment of a successor Trustee with respect to the Securities of such series.

 

The
Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal
amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company.

 

If
at any time:

 

(1)          
the Trustee shall fail to comply with Section 6.8 after written request therefor by the Company or by any Holder who has
been a bona fide Holder of a Security for at least six months, or

 

(2)          
the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by the Company
or by any such Holder, or

 

    	29

    	 

    

 

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

 

then,
in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject
to Section 5.14, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself
and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to
all Securities and the appointment of a successor Trustee or Trustees.

 

If
the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any
cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor
Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee
may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only
one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 6.11.
If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with
respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding
Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith
upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor
Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company.
If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders
and accepted appointment in the manner required by Section 6.11, the retiring Trustee may petition, or any Holder who has
been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others
similarly situated, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities
of such series.

 

The
Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and
each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series
in the manner provided in Section 1.6.  Each notice shall include the name of the successor Trustee with respect to
the Securities of such series and the address of its Corporate Trust Office.

 

Section 6.11        
Acceptance of Appointment by Successor.

 

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

 

    	30

    	 

    

 

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

 

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

 

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

 

Section 6.12        
Merger, Conversion, Consolidation or Succession to Business.

 

Any
corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially
all the corporate trust business of the Trustee (including the administration of the trust created by this Indenture), shall be
the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this
Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any
Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion
or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with
the same effect as if such successor Trustee had itself authenticated such Securities.  In the event that any Securities
shall not have been authenticated by such predecessor Trustee, any such successor Trustee may authenticate and deliver such Securities
in either its own name or that of such predecessor Trustee, with the full force and effect which this Indenture provides for the
certificate of authentication of the Trustee.

 

Section 6.13        
Preferential Collection of Claims Against Company.

 

If
and when the Trustee shall be or become a creditor of the Company, the Trustee shall be subject to the provisions of the Trust
Indenture Act regarding the collection of claims against the Company.

 

Section 6.14        
Appointment of Authenticating Agent.

 

The
Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities which shall be
authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon original issue and upon
exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.6, and Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if
authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of
Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include
authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed
on behalf of the Trustee by an Authenticating Agent.  Each Authenticating Agent shall be acceptable to the Company and
shall at all times be a corporation organized and doing business under the laws of the United States of America, any State
thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having (or if the
Authenticating Agent is a member of a bank holding company system, its bank holding company has) a combined capital and
surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State authority. If such
Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said
supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such
Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of
condition so published.  If at any time an Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in
this Section.

 

    	31

    	 

    

 

Any
corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation
succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating
Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any
paper or any further act on the part of the Trustee or the Authenticating Agent.

 

An
Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company.  The Trustee
may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent
and to the Company.  Upon receiving such a notice of resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor
Authenticating Agent which shall be acceptable to the Company and shall give notice of such appointment in the manner provided
in Section 1.6 to all Holders of Securities of the series with respect to which such Authenticating Agent will serve. 
Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers
and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent.  No successor
Authenticating Agent shall be appointed unless eligible under the provisions of this Section.

 

The
Trustee agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section,
and the Trustee shall be entitled to be reimbursed for such payments, subject to the provisions of Section 6.7.

 

If
an appointment with respect to one or more series is made pursuant to this Section 6.14, the Securities of such series may
have endorsed thereon, in lieu of the Trustee’s certificate of authentication, an alternative certificate of authentication
in the following form:

 

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

 

	 	                                                                                  ,
	 	As
    Trustee
	 	 	 
	 	By:	 
	 	 	As
    Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized
    Officer

 

    	32

    	 

    

 

ARTICLE 7

 

HOLDERS’
LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

Section 7.1           
Company to Furnish Trustee Names and Addresses of Holders.

 

The
Company will furnish or cause to be furnished to the Trustee:

 

(1)          
semi-annually, not later than 15 days after the Regular Record Date for each respective series of Securities, a list, in such
form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of each series as of such
Regular Record Date, as the case may be, or if there is no Regular Record Date for such series of Securities, semi-annually, and

 

(2)          
at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request,
a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished;

 

(3)          
provided that no such list need be furnished by the Company to the Trustee so long as the Trustee is acting as Security
Registrar.

 

Section 7.2           
Preservation of Information; Communications to Holders.

 

The
Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the
most recent list furnished to the Trustee as provided in Section 7.1 and the names and addresses of Holders received by the
Trustee in its capacity as Security Registrar.  The Trustee may destroy any list furnished to it as provided in Section 7.1
upon receipt of a new list so furnished.

 

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

 

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

 

Section 7.3           
Reports by Trustee.

 

The
Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required
pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto.

 

Reports
so required to be transmitted at stated intervals of not more than 12 months shall be transmitted no later than July 15 in
each calendar year, commencing with the first July 15 after the first issuance of Securities pursuant to this Indenture.

 

A
copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange
upon which any Securities are listed, with the Commission and with the Company.  The Company will notify the Trustee when
any Securities are listed on any stock exchange.

 

Section 7.4           
Reports by Company.

 

Any
information, documents or other reports that the Company shall file with the Commission pursuant to Section 13 or
15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the same is filed with the Commission; provided
that any such information, documents or reports filed or furnished with the Commission pursuant to its Electronic Data
Gathering, Analysis and Retrieval (or EDGAR) system or any successor thereto shall be deemed to be filed with the Trustee as
of the time such information, documents or reports are filed or furnished via EDGAR or any successor thereto.  Delivery
of such information, documents or other reports to the Trustee is for informational purposes only and the Trustee’s
receipt of such shall not constitute constructive notice of any information contained therein or determinable from
information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the
Trustee is entitled to rely exclusively on Officer’s Certificates).

 

    	33

    	 

    

 

ARTICLE 8

 

CONSOLIDATION,
MERGER, CONVEYANCE, TRANSFER OR LEASE

 

Section 8.1           
Company May Consolidate, etc., Only on Certain Terms.

 

The
Company shall not consolidate with or merge into any other Person (other than a Subsidiary of the Company) (in a transaction in
which the Company is not the surviving corporation) or convey, transfer or lease its properties and assets substantially as an
entirety to any Person (other than a Subsidiary of the Company), unless:

 

(1)          
in case the Company shall consolidate with or merge into another Person (in a transaction in which the Company is not the surviving
corporation) or convey, transfer or lease its properties and assets substantially as an entirety to any Person, the Person formed
by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer, or which leases,
the properties and assets of the Company substantially as an entirety shall be a corporation, limited liability company, partnership,
trust or other business entity, shall be organized and validly existing under the laws of the United States of America, any State
thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to
the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and any premium and interest
on all the Securities and the performance or observance of every covenant of this Indenture on the part of the Company to be performed
or observed and the conversion rights shall be provided for in accordance with Article 14, if applicable, or as otherwise
specified pursuant to Section 3.1, by supplemental indenture satisfactory in form to the Trustee, executed and delivered
to the Trustee, by the Person (if other than the Company) formed by such consolidation or into which the Company shall have been
merged or by the Person which shall have acquired the Company’s assets;

 

(2)          
immediately after giving effect to such transaction, no Event of Default, and no event which, after notice or lapse of time or
both, would become an Event of Default, shall have occurred and be continuing; and

 

(3)          
the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation,
merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental
indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have
been complied with.

 

Section 8.2           
Successor Substituted.

 

Upon
any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of
the properties and assets of the Company substantially as an entirety in accordance with Section 8.1, the successor Person
formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same
effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the predecessor
Person shall be relieved of all obligations and covenants under this Indenture and the Securities.

 

    	34

    	 

    

 

ARTICLE 9

 

SUPPLEMENTAL
INDENTURES

 

Section 9.1           
Supplemental Indentures Without Consent of Holders.

 

Without
the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to
time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following
purposes:

 

(1)          
to evidence the succession of another Person to the Company, or successive successions, and the assumption by any such successor
of the covenants of the Company herein and in the Securities in compliance with Article 8; or

 

(2)          
to add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants
are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely
for the benefit of such series) or to surrender any right or power herein conferred upon the Company; or

 

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

 

(4)          
to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance
of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit
or facilitate the issuance of Securities in uncertificated form; or

 

(5)          
to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Securities, provided
that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created
prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights
of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no such
Security Outstanding; or

 

(6)          
to secure the Securities, including provisions regarding the circumstances under which collateral may be released or substituted;
or

 

(7)          to
establish the form or terms of Securities of any series as permitted by Sections 2.1 and 3.1; or

 

(8)          
to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one
or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 6.11; or

 

(9)        
to conform this Indenture to the description of the Securities set forth in the Prospectus for such series of Securities; or

 

(10)        
to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other provision
herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided that
such action pursuant to this clause (11) shall not adversely affect the interests of the Holders of Securities of any series
in any material respect; or

 

    	35

    	 

    

 

(11)        
to supplement any of the provisions of the Indenture to such extent as shall be necessary to permit or facilitate the
defeasance and discharge of any series of Securities pursuant to Articles 4 and 13, provided that any such
action shall not adversely affect the interests of the Holders of Securities of such series or any other series of Securities
in any material respect; or

 

(12)        
to make such other provisions in regards to matters or questions arising under the Indenture or any supplemental Indenture hereto
as the Board of Directors may deem necessary or desirable, and which does not in each case adversely affect the interest of the
Holders of Securities or any series; or

 

(13)        
to comply with requirements of the Commission in order to effect or maintain the qualification of the Indenture under the Trust
Indenture Act.

 

Section 9.2           
Supplemental Indentures with Consent of Holders.

 

With
the consent of the Holders of a majority in principal amount of the Outstanding Securities of each series affected by such supplemental
indenture, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution,
and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of
Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without
the consent of the Holder of each Outstanding Security affected thereby,

 

(1)          
change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security, or reduce the
principal amount thereof or the rate of interest thereon or any premium payable upon the redemption or repurchase thereof, whether
at the option of the Company or at the option of the Holder, or reduce the amount of any sinking fund payments, or reduce the
amount of the principal of an Original Issue Discount Security or any other Security which would be due and payable upon a declaration
of acceleration of the Maturity thereof pursuant to Section 5.2, or change the Place of Payment or the currency in which,
any Security or any premium or interest thereon is payable, or impair the right to institute suit for the enforcement of any such
payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or modify the
provisions of this Indenture with respect to the subordination of such series of Securities in a manner materially adverse to
the Holders of Securities of such series or, in the case of Securities of any series that are convertible into Securities or other
securities of the Company, adversely affect the right of Holders or convert any of the Securities of such series other than as
provided in or pursuant to this Indenture, or

 

(2)          
in the case of Securities of any series that are convertible into Common Stock or other securities of the Company pursuant to
Article 14 and any supplemental Indenture hereto, adversely affect the rights of the Holders to convert any of the Securities
of such series other than as provided in or pursuant to this Indenture or any supplemental indenture, or

 

(3)          
reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required
for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions
of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture, or

 

(4)          
modify any of the provisions of this Section or Section 5.13, except to increase any such percentage or to provide that
certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding
Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any
Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section, or the
deletion of this proviso, in accordance with the requirements of Sections 6.11 and 9.1(9).

 

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

 

    	36

    	 

    

 

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

 

Section 9.3           
Execution of Supplemental Indentures.

 

In
executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Sections 6.1 and
6.3) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture
is authorized or permitted by this Indenture.  The Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.

 

Section 9.4           
Effect of Supplemental Indentures.

 

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

 

Section 9.5           
Conformity with Trust Indenture Act.

 

The
Indenture shall incorporate and be governed by the provisions of the Trust Indenture Act that are required to be part of and to
govern indentures qualified under the Trust Indenture Act.

 

Section 9.6           
Reference in Securities to Supplemental Indentures.

 

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

 

Section 9.7           
Subordination Unimpaired.

 

No
provision in any supplemental indenture that affects the superior position of the holders of Senior Debt shall be effective against
holders of Senior Debt.

 

ARTICLE 10

 

COVENANTS

 

Section 10.1        
Payment of Principal, Premium and Interest.

 

The
Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of
and any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture.

 

Section 10.2        
Maintenance of Office or Agency.

 

The
Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that
series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of
transfer or exchange, where Securities of that series may be surrendered for conversion to the extent that such right to
convert is applicable to such Security and where notices and demands to or upon the Company in respect of the Securities of
that series and this Indenture may be served.  The Company will give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency.  If at any time the Company shall fail to maintain
any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby
appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands.  Unless otherwise
provided in a supplemental indenture or pursuant to Section 3.1 hereof, the Place of Payment for any series of
Securities shall be the Corporate Trust Office of the Trustee.

 

    	37

    	 

    

 

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

 

Section 10.3        
Money for Securities Payments to be Held in Trust; Paying Agents.

 

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

 

Whenever
the Company shall have one or more Paying Agents for any series of Securities, it will, on or prior to each due date of the principal
of or any premium or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount,
such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company will promptly
notify the Trustee of its action or failure so to act.

 

The
Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee
an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying
Agent will (1) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent and (2) during
the continuance of any default by the Company in the making of any payment in respect of the Securities of that series, upon the
written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect
of the Securities of that series.

 

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

 

Any
amounts deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the
principal of or any premium or interest on any Security of any series and remaining unclaimed for a period ending on the
earlier of the date that is ten Business Days prior to the date such money would escheat to any state or two years after such
principal, premium or interest has become due and payable shall be paid to the Company on Company Request, or (if then held
by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured
general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however,
that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company
cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and
of general circulation in each Place of Payment, notice that such money remains unclaimed and that, after a date specified
therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then
remaining will be repaid to the Company.

 

    	38

    	 

    

 

Section 10.4        
Statement by Officers as to Default.

 

The
Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof,
an Officers’ Certificate which shall comply with the provisions of Section 314 of the Trust Indenture Act, stating whether
or not to the best knowledge of the signer thereof the Company is in default in the performance and observance of any of the terms,
provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided hereunder)
and, if the Company shall be in default, specifying all such defaults and the nature and status thereof of which the signer thereof
may have knowledge. The fiscal year of the Company currently ends on December 31; and the Company will give the Trustee prompt
written notice of any change of its fiscal year.

 

Section 10.5        
Existence.

 

Subject
to Article 8, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect
its existence.

 

Section 10.6        
Waiver of Certain Covenants.

 

Except
as otherwise specified as contemplated by Section 3.1 for Securities of such series, the Company may, with respect to the
Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant
provided pursuant to Section 3.1(19) or 9.1(2) for the benefit of the Holders of such series if before the time for such
compliance the Holders of at least a majority in principal amount of the Outstanding Securities of such series shall, by Act of
such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or condition,
but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and,
until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such
term, provision or condition shall remain in full force and effect.

 

ARTICLE 11

 

REDEMPTION
OF SECURITIES

 

Section 11.1        
Applicability of Article.

 

Securities
of any series that are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except
as otherwise specified as contemplated by Section 3.1 for such Securities) in accordance with this Article.

 

Section 11.2        
Election to Redeem; Notice to Trustee.

 

The
election of the Company to redeem any Securities shall be evidenced by a Board Resolution or in another manner specified as contemplated
by Section 3.1 for such Securities.  In case of any redemption at the election of the Company of less than all the Securities
of any series (including any such redemption affecting only a single Security), the Company shall, at least 45 days prior to the
Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee or is specified in the Board
Resolution (or in an Officers’ Certificate pursuant to such Board Resolution detailing such establishment) or supplemental
indenture establishing such series), notify the Trustee of such Redemption Date, of the principal amount of Securities of such
series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed.

 

Section 11.3        
Selection by Trustee of Securities to Be Redeemed.

 

If
less than all the Securities of any series are to be redeemed (unless all the Securities of such series and of a specified
tenor are to be redeemed or unless such redemption affects only a single Security), the particular Securities to be redeemed
shall be selected not more than 45 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such
series not previously called for redemption, by lot, or in the Trustee’s discretion, on a pro-rata basis, provided
that the unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not
be less than the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a
specified tenor are to be redeemed (unless such redemption affects only a single Security), the particular Securities to be
redeemed shall be selected not more than 45 days prior to the Redemption Date by the Trustee, from the Outstanding Securities
of such series and specified tenor not previously called for redemption in accordance with the preceding sentence.

 

    	39

    	 

    

 

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

 

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

 

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

 

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

 

Section 11.4        
Notice of Redemption.

 

Notice
of redemption shall be given in the manner provided in Section 1.6, not fewer than 30 nor more than 60 days prior to the
Redemption Date, unless a shorter period is specified in the Securities to be redeemed, to each Holder of Securities to be redeemed,
at its address appearing in the Security Register or, if the Securities are held in book-entry form, sent by electronic transmission.

 

All
notices of redemption shall state:

 

(1)          
the Redemption Date,

 

(2)          
the Redemption Price (including accrued interest, if any),

 

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

 

(4)          
in case any Security is to be redeemed in part only, that on and after the Redemption Date, upon surrender of such Security, the
Holder of such Security will receive, without charge, a new Security or Securities of authorized denominations for the principal
amount thereof remaining unredeemed,

 

(5)          
that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable,
that interest thereon will cease to accrue on and after said date,

 

(6)          
the place or places where each such Security is to be surrendered for payment of the Redemption Price,

 

(7)          
if applicable, the conversion price or the conversion rate, as the case may be, the date on which the right to convert the principal
of the Securities or the portions thereof to be redeemed will terminate, and the place or places where such Securities may be
surrendered for conversion,

 

    	40

    	 

    

 

(8)          
that the redemption is for a sinking fund, if such is the case, and

 

(9)          
the CUSIP number or numbers and/or common code(s) of the Security being redeemed.

 

Notice
of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request, by the Trustee in the name and at the expense of the Company and shall be irrevocable.

 

Section 11.5        
Deposit of Redemption Price.

 

On
or prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting
as its own Paying Agent, segregate and hold in trust as provided in Section 10.3) an amount of money sufficient to pay the
Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest, if any, on, all the
Securities which are to be redeemed on that date.

 

To
the extent such Security of a series is convertible pursuant to Article 14, upon conversion of any such Security called for
redemption, any money deposited with the Trustee or with a Paying Agent or so segregated and held in trust for the redemption
of such Security shall (subject to the right of any Holder of such Security to receive interest as provided in the last paragraph
of Section 3.7) be paid to the Company on Company Request, or if then held by the Company, shall be discharged from such
trust.

 

Section 11.6        
Securities Payable on Redemption Date.

 

Notice
of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable
at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the
Redemption Price and accrued interest, if any) such Securities shall cease to bear interest.  Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together
with accrued interest, if any, to the Redemption Date; provided, however, that, unless otherwise specified as contemplated
by Section 3.1, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the
Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant
Record Dates according to their terms and the provisions of Section 3.7.

 

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

 

Section 11.7        
Securities Redeemed in Part.

 

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

 

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ARTICLE 12

 

SINKING
FUNDS

 

Section 12.1        
Applicability of Article.

 

The
provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of any series except
as otherwise specified as contemplated by Section 3.1 for such Securities.

 

The
minimum amount of any sinking fund payment provided for by the terms of any Securities is herein referred to as a “mandatory
sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of such Securities is
herein referred to as an “optional sinking fund payment.”  If provided for by the terms of any Securities, the
cash amount of any sinking fund payment may be subject to reduction as provided in Section 12.2.  Each sinking fund
payment shall be applied to the redemption of Securities as provided for by the terms of such Securities.

 

Section 12.2        
Satisfaction of Sinking Fund Payments with Securities.

 

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

 

Section 12.3        
Redemption of Securities for Sinking Fund.

 

Not
fewer than 60 days prior to each sinking fund payment date for any Securities, the Company will deliver to the Trustee an Officers’
Certificate specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities,
the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied
by delivering and crediting Securities pursuant to Section 12.2 and will also deliver to the Trustee any Securities to be
so delivered. Not fewer than 30 days prior to each such sinking fund payment date, the Trustee shall select the Securities to
be redeemed upon such sinking fund payment date in the manner specified in Section 11.3 and cause notice of the redemption
thereof to be given in the name of and at the expense of the Company in the manner provided in Section 11.4.  Such notice
having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 11.6
and 11.7.

 

ARTICLE 13

 

DEFEASANCE
AND COVENANT DEFEASANCE

 

Section 13.1        
Company’s Option to Effect Defeasance or Covenant Defeasance.

 

The
Company may elect, at its option at any time, to have Section 13.2 or Section 13.3 applied to any Securities or any
series of Securities, as the case may be, designated pursuant to Section 3.1 as being defeasible pursuant to such Section 13.2
or 13.3, in accordance with any applicable requirements provided pursuant to Section 3.1 and upon compliance with the conditions
set forth below in this Article.  Any such election shall be evidenced by a Board Resolution or in another manner specified
as contemplated by Section 3.1 for such Securities.

 

Section 13.2        
Defeasance and Discharge.

 

Upon
the Company’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities,
as the case may be, the Company shall be deemed to have been discharged from its obligations, and the provisions of Article 15
shall cease to be effective, with respect to such Securities as provided in this Section on and after the date the conditions
set forth in Section 13.4 are satisfied (hereinafter called “Defeasance”).  For this purpose, such Defeasance
means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and
to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned
(and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), subject to the following
which shall survive until otherwise terminated or discharged hereunder:

 

    	42

    	 

    

 

(1)          
the rights of Holders of such Securities to receive, solely from the trust fund described in Section 13.4 and as more fully
set forth in such Section, payments in respect of the principal of and any premium and interest on such Securities when payments
are due,

 

(2)          
the Company’s obligations with respect to such Securities under Sections 3.4, 3.5, 3.6, 10.2 and 10.3, and, if applicable,
Article 14,

 

(3)          
the rights, powers, trusts, duties and immunities of the Trustee hereunder, and

 

(4)          
this Article.

 

Subject
to compliance with this Article, the Company may exercise its option (if any) to have this Section applied to any Securities
notwithstanding the prior exercise of its option (if any) to have Section 13.3 applied to such Securities.

 

Section 13.3        
Covenant Defeasance.

 

Upon
the Company’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities,
as the case may be:

 

(1)          
the Company shall be released from any covenants provided pursuant to Sections 3.1(19) or 9.1(2) for the benefit of
the Holders of such Securities,

 

(2)          
the occurrence of any event specified in Section 5.1(4) (with respect to any such covenants provided pursuant to Section 3.1(19)
or 9.1(2)) and the occurrence of any other Event of Default specified pursuant to Section 3.1, shall be deemed not to be
or result in an Event of Default, and

 

(3)          
the provisions of Article 15 shall cease to be effective.

 

in
each case with respect to such Securities or any series of Securities as provided in this Section on and after the date the
conditions set forth in Section 13.4 are satisfied (hereinafter called “Covenant Defeasance”).  For this
purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may omit to comply with and shall have
no liability in respect of any term, condition or limitation set forth in any such specified Section (to the extent so specified
in the case of Section 5.1(4) and the occurrence of any other Event of Default specified pursuant to Section 3.1)
or Article 15, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article
or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but
the remainder of this Indenture and such Securities shall be unaffected thereby.

 

Section 13.4        
Conditions to Defeasance or Covenant Defeasance.

 

The
following shall be the conditions to the application of Section 13.2 or Section 13.3 to any Securities or any series
of Securities, as the case may be:

 

(1)              The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee which satisfies the
requirements contemplated by Section 6.9 and agrees to comply with the provisions of this Article applicable to it)
as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated
solely to, the benefits of the Holders of such Securities,

 

(A)              in the case of Securities of a series denominated in currency of the United States of America,

 

(i)           
cash in currency of the United States of America in an amount, or

 

    	43

    	 

    

 

(ii)          
U.S. Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance with
their terms will provide, not later than one day before the due date of any payment, an amount in cash, or

 

(iii)         
a combination thereof, or

 

(B)              in the case of Securities of a series denominated in currency other than that of the United States of America,

 

(i)           
cash in the currency in which such series of Securities is denominated in an amount, or

 

(ii)          
Foreign Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance
with their terms will provide, not later than one day before the due date of any payment, an amount in cash, or

 

(iii)         
a combination thereof,

 

in
each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such other
qualifying trustee) to pay and discharge, the principal of and any premium and interest on such Securities on the respective Stated
Maturities, in accordance with the terms of this Indenture and such Securities.

 

(2)              In the event of an election to have Section 13.2 apply to any Securities or any series of Securities, as the case may be,
the Company shall have delivered to the Trustee an Opinion of Counsel stating that (A) the Company has received from, or
there has been published by, the Internal Revenue Service a ruling or (B) since the date of this instrument, there has been
a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such
opinion shall confirm that, the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as
a result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal
income tax on the same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance and discharge
were not to occur.

 

(3)              
In the event of an election to have Section 13.3 apply to any Securities or any series of Securities, as the case may be,
the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not
recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected with
respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times
as would be the case if such deposit and Covenant Defeasance were not to occur.

 

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

 

(5)              No event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such Securities
or any other Securities shall have occurred and be continuing at the time of such deposit or, with regard to any such event specified
in Sections 5.1(5) and (6), at any time on or prior to the 90th day after the date of such deposit (it being understood
that this condition shall not be deemed satisfied until after such 90th day).

 

(6)              Such Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting interest within the meaning of the Trust
Indenture Act (assuming all Securities are in default within the meaning of such Act).

 

    	44

    	 

    

 

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

 

(8)              Such Defeasance or Covenant Defeasance shall not result in the trust arising from such deposit constituting an investment company
within the meaning of the Investment Company Act unless such trust shall be registered under such Act or exempt from registration
thereunder.

 

(9)              At the time of such deposit,

 

(A)               no default in the payment of any principal of or premium or interest on any Senior Debt shall have occurred and be continuing,

 

(B)                no event of default with respect to any Senior Debt shall have resulted in such Senior Debt becoming, and continuing to be, due
and payable prior to the date on which it would otherwise have become due and payable (unless payment of such Senior Debt has
been made or duly provided for), and

 

(C)                no other event of default with respect to any Senior Debt shall have occurred and be continuing permitting (after notice or lapse
of time or both) the holders of such Senior Debt (or a trustee on behalf of such holders) to declare such Senior Debt due and
payable prior to the date on which it would otherwise have become due and payable.

 

(10)              The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with.

 

Section 13.5        
Deposited Money, U.S. Government Obligations and Foreign Government Obligations to be Held in Trust; Miscellaneous Provisions.

 

Subject
to the provisions of the last paragraph of Section 10.3, all money, U.S. Government Obligations and Foreign Government
Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of
this Section and Section 13.6, the Trustee and any such other trustee are referred to collectively as the
“Trustee”) pursuant to Section 13.4 in respect of any Securities shall be held in trust and applied by the
Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through
any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of
such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, but money so
held in trust need not be segregated from other funds except to the extent required by law.  Money, U.S. Government
Obligations and Foreign Government Obligations so held in trust shall not be subject to the provisions of Article 15.
The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S.
Government Obligations or Foreign Government Obligations deposited pursuant to Section 13.4 or the principal and
interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the
Holders of Outstanding Securities.  Anything in this Article to the contrary notwithstanding, the Trustee shall
deliver or pay to the Company from time to time upon Company Request any money, U.S. Government Obligations or Foreign
Government Obligations held by it as provided in Section 13.4 with respect to any Securities which, in the opinion of a
nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the
Trustee, are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or
Covenant Defeasance, as the case may be, with respect to such Securities.

 

Section 13.6        
Reinstatement.

 

If
the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any
Securities by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the obligations under this Indenture and such Securities from which the Company has been
discharged or released pursuant to Section 13.2 or 13.3 shall be revived and reinstated as though no deposit had
occurred pursuant to this Article with respect to such Securities, until such time as the Trustee or Paying Agent is
permitted to apply all money held in trust pursuant to Section 13.5 with respect to such Securities in accordance with
this Article; provided, however, that if the Company makes any payment of principal of or any premium or
interest on any such Security following such reinstatement of its obligations, the Company shall be subrogated to the rights
(if any) of the Holders of such Securities to receive such payment from the money so held in trust.

 

    	45

    	 

    

 

ARTICLE 14

 

CONVERSION
OF SECURITIES

 

Section 14.1        
Conversion.

 

The
terms of any conversion provision that shall be applicable to the Securities of any series shall be set forth in one or more indentures
supplemental hereto for the Securities of such series.

 

ARTICLE 15

 

SUBORDINATION
OF SECURITIES

 

Section 15.1        
Agreement of Subordination.

 

Except
as otherwise provided in a supplemental indenture or pursuant to Section 3.1, the Company covenants and agrees, and each
Holder of Securities issued hereunder by its acceptance thereof likewise covenants and agrees, that all Securities shall be issued
subject to the provisions of this Article 15; and each Person holding any Security, whether upon original issue or upon transfer,
assignment or exchange thereof, accepts and agrees to be bound by such provisions.

 

The
payment of the principal of, premium, if any, and interest on all Securities (including, but not limited to, the redemption price
with respect to the Securities called for redemption in accordance with Article 11 as provided in the Indenture) issued hereunder
shall, to the extent and in the manner hereinafter set forth, be subordinated and subject in right of payment to the prior payment
in full of all Senior Debt, whether outstanding at the date of this Indenture or thereafter incurred.

 

No
provision of this Article 15 shall prevent the occurrence of any default or Event of Default hereunder.

 

Section 15.2        
Payments to Holders.

 

No
payment shall be made with respect to the principal of, or premium, if any, or interest on the Securities (including, but not
limited to, the redemption price with respect to the Securities to be called for redemption in accordance with Article 11
as provided in the Indenture), except payments and distributions made by the Trustee as permitted by the first or second paragraph
of Section 15.5, if:

 

(i)               
a default in the payment of principal, premium, if any, interest, rent or other obligations due on any Senior Debt occurs
and is continuing (or, in the case of Senior Debt for which there is a period of grace, in the event of such a default that
continues beyond the period of grace, if any, specified in the instrument or lease evidencing such Senior Debt) (a
“Payment Default”), unless and until such default shall have been cured or waived or shall have ceased to exist;
or

 

(ii)               
a default, other than a Payment Default, on any Designated Senior Debt occurs and is continuing that then permits holders of such
Designated Senior Debt to accelerate its maturity and the Trustee receives a notice of the default (a “Payment Blockage
Notice”) from a holder of Designated Senior Debt, a Representative of Designated Senior Debt or the Company (a “Non-Payment
Default”).

 

    	46

    	 

    

 

If
the Trustee receives any Payment Blockage Notice pursuant to clause (ii) above, no subsequent Payment Blockage Notice
shall be effective for purposes of this Section unless and until at least 365 days shall have elapsed since the initial effectiveness
of the immediately prior Payment Blockage Notice.  No Non-Payment Default that existed or was continuing on the date of delivery
of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Payment Blockage Notice.

 

The
Company may and shall resume payments on and distributions in respect of the Securities upon the earlier of:

 

(2)                
in the case of any Payment Default, the date upon which the Payment Default is cured or waived or ceases to exist,
or

 

(3)                
in the case of a Non-Payment Default, the earlier of (a) the date upon which such Non-Payment Default is cured, waived or
ceases to exist or (b) 179 days after the date on which the applicable Payment Blockage Notice is received by the Trustee,

 

unless
this Article 15 otherwise prohibits the payment or distribution at such time.

 

Upon
any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors
upon any dissolution or winding-up or liquidation or reorganization of the Company, whether voluntary or involuntary or in bankruptcy,
insolvency, reorganization, liquidation, receivership or other proceedings, or upon an assignment for the benefit of creditors
or any marshalling of the assets and liabilities of the Company, or otherwise, all amounts due or to become due upon all Senior
Debt shall first be paid in full in cash or other payment satisfactory to the holders of such Senior Debt, or payment thereof
in accordance with its terms provided for in cash or other payment satisfactory to the holders of such Senior Debt, before any
payment is made on account of the principal of, premium, if any, or interest on the Securities (except payments made pursuant
to Article 4 from monies deposited with the Trustee pursuant thereto prior to commencement of proceedings for such dissolution,
winding-up, liquidation, reorganization, assignment for the benefit of creditors or the marshalling of assets and liabilities
of the Company); and upon any such dissolution, winding-up, liquidation, reorganization, assignment for the benefit of creditors
or marshalling of assets and liabilities of the Company or bankruptcy, insolvency, receivership or other proceeding, any payment
by the Company, or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to
which the Holders of the Securities or the Trustee would be entitled, except for the provision of this Article 15, shall
(except as aforesaid) be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person
making such payment or distribution, or by the Holders of the Securities or by the Trustee under this Indenture if received by
them or it, directly to the holders of Senior Debt (pro rata to such holders on the basis of the respective amounts of Senior
Debt held by such holders, or as otherwise required by law or a court order) or their Representative or Representatives, or to
the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior Debt may have been issued,
as their respective interests may appear, to the extent necessary to pay all Senior Debt in full, in cash or other payment satisfactory
to the holders of such Senior Debt, after giving effect to any concurrent payment or distribution to or for the holders of Senior
Debt, before any payment or distribution or provision therefor is made to the Holders of the Securities or to the Trustee.

 

For
purposes of this Article 15, the words, “cash, property or securities” shall not be deemed to include
shares of stock of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided
for by a plan of reorganization or readjustment, the payment of which is subordinated at least to the extent provided in this
Article 15 with respect to the Securities to the payment of all Senior Debt which may at the time be outstanding; provided that
(i) the Senior Debt is assumed by the new corporation, if any, resulting from any reorganization or readjustment, and
(ii) the rights of the holders of Senior Debt (other than leases which are not assumed by the Company or the new
corporation, as the case may be) are not, without the consent of such holders, altered by such reorganization or
readjustment.  The consolidation of the Company with, or the merger of the Company into, another corporation or the
liquidation or dissolution of the Company following the conveyance or transfer of its property as an entirety, or
substantially as an entirety, to another corporation upon the terms and conditions provided for in Article 8 shall not
be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section 15.2 if such other
corporation shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in
Article 8.

 

    	47

    	 

    

 

In
the event of the acceleration of the Securities because of an Event of Default, no payment or distribution shall be made to the
Trustee or any Holder of Securities in respect of the principal of, premium, if any, or interest on the Securities (including,
but not limited to, the redemption price with respect to the Securities called for redemption in accordance with Article 11
as provided in the Indenture), except payments and distributions made by the Trustee as permitted by the first or second paragraph
of Section 15.5, until all Senior Debt has been paid in full in cash or other payment satisfactory to the holders of Senior
Debt or such acceleration is rescinded in accordance with the terms of this Indenture.  If payment of the Securities is accelerated
because of an Event of Default, the Company shall promptly notify holders of Senior Debt of the acceleration.

 

In
the event that, notwithstanding the foregoing provisions, any payment or distribution of assets of the Company of any kind or
character, whether in cash, property or securities (including, without limitation, by way of setoff or otherwise), prohibited
by the foregoing, shall be received by the Trustee or the Holders of the Securities before all Senior Debt is paid in full in
cash or other payment satisfactory to the holders of such Senior Debt, or provision is made for such payment thereof in accordance
with its terms in cash or other payment satisfactory to the holders of such Senior Debt, such payment or distribution shall be
held in trust for the benefit of and shall be paid over or delivered to the holders of Senior Debt or their Representative or
Representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior Debt
may have been issued, as their respective interests may appear, as calculated by the Company, for application to the payment of
all Senior Debt remaining unpaid to the extent necessary to pay all Senior Debt in full in cash or other payment satisfactory
to the holders of such Senior Debt, after giving effect to any concurrent payment or distribution to or for the holders of such
Senior Debt.

 

Nothing
in this Section 15.2 shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.7.  This
Section 15.2 shall be subject to the further provisions of Section 15.5.

 

Section 15.3           Subrogation of Securities.

 

Subject
to the payment in full of all Senior Debt, the rights of the Holders of the Securities shall be subrogated to the extent of the
payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article 15 (equally
and ratably with the holders of all indebtedness of the Company which by its express terms is subordinated to other indebtedness
of the Company to substantially the same extent as the Securities are subordinated and is entitled to like rights of subrogation)
to the rights of the holders of Senior Debt to receive payments or distributions of cash, property or securities of the Company
applicable to the Senior Debt until the principal, premium, if any, and interest on the Securities shall be paid in full; and,
for the purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or
securities to which the Holders of the Securities or the Trustee would be entitled except for the provisions of this Article 15,
and no payment over pursuant to the provisions of this Article 15, to or for the benefit of the holders of Senior Debt by
Holders of the Securities or the Trustee, shall, as between the Company, its creditors other than holders of Senior Debt, and
the Holders of the Securities, be deemed to be a payment by the Company to or on account of the Senior Debt; and no payments or
distributions of cash, property or securities to or for the benefit of the Holders of the Securities pursuant to the subrogation
provisions of this Article 15, which would otherwise have been paid to the holders of Senior Debt shall be deemed to be a
payment by the Company to or for the account of the Securities.  It is understood that the provisions of this Article 15
are and are intended solely for the purposes of defining the relative rights of the Holders of the Securities, on the one hand,
and the holders of the Senior Debt, on the other hand.

 

Nothing
contained in this Article 15 or elsewhere in this Indenture or in the Securities is intended to or shall impair, as
among the Company, its creditors other than the holders of Senior Debt, and the Holders of the Securities, the obligation of
the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of (and premium, if
any) and interest on the Securities as and when the same shall become due and payable in accordance with their terms, or is
intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Company other than the
holders of the Senior Debt, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from
exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if
any, under this Article 15 of the holders of Senior Debt in respect of cash, property or securities of the Company
received upon the exercise of any such remedy.

 

    	48

    	 

    

 

Upon
any payment or distribution of assets of the Company referred to in this Article 15, the Trustee, subject to the provisions
of Section 6.1, and the Holders of the Securities shall be entitled to rely upon any order or decree made by any court of
competent jurisdiction in which such bankruptcy, dissolution, winding-up, liquidation or reorganization proceedings are pending,
or a certificate of the receiver, trustee in bankruptcy, liquidating trustee, agent or other person making such payment or distribution,
delivered to the Trustee or to the Holders of the Securities, for the purpose of ascertaining the persons entitled to participate
in such distribution, the holders of the Senior Debt and other indebtedness of the Company, the amount thereof or payable thereon
and all other facts pertinent thereto or to this Article 15.

 

Section 15.4        Authorization to Effect Subordination.

 

Each
Holder of a Security by the holder’s acceptance thereof authorizes and directs the Trustee on the holder’s behalf
to take such action as may be necessary or appropriate to effectuate the subordination as provided in this Article 15 and
appoints the Trustee to act as the holder’s attorney-in-fact for any and all such purposes.  If the Trustee does not
file a proper proof of claim or proof of debt in the form required in any proceeding referred to in Section 5.4 hereof at
least 30 days before the expiration of the time to file such claim, the holders of any Senior Debt or their representatives are
hereby authorized to file an appropriate claim for and on behalf of the Holders of the Securities.

 

Section 15.5        Notice to Trustee.

 

The
Company shall give prompt written notice in the form of an Officers’ Certificate to a Responsible Officer of the Trustee
and to any Paying Agent of any fact known to the Company which would prohibit the making of any payment of monies to or by the
Trustee or any Paying Agent in respect of the Securities pursuant to the provisions of this Article 15.  Notwithstanding
the provisions of this Article 15 or any other provision of this Indenture, the Trustee shall not be charged with knowledge
of the existence of any facts which would prohibit the making of any payment of monies to or by the Trustee in respect of the
Securities pursuant to the provisions of this Article 15, unless and until a Responsible Officer of the Trustee shall have
received written notice thereof at the Corporate Trust Office from the Company (in the form of an Officers’ Certificate)
or a Representative or a holder or holders of Senior Debt or from any trustee therefor; and before the receipt of any such written
notice, the Trustee, subject to the provisions of Section 6.1, shall be entitled in all respects to assume that no such facts
exist; provided that if on a date not fewer than two Business Days prior to the date upon which by the terms hereof any
such monies may become payable for any purpose (including, without limitation, the payment of the principal of, or premium, if
any, or interest on any Security) the Trustee shall not have received, with respect to such monies, the notice provided for in
this Section 15.5, then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and
authority to receive such monies and to apply the same to the purpose for which they were received, and shall not be affected
by any notice to the contrary which may be received by it on or after such prior date.

 

Notwithstanding
anything in this Article 15 to the contrary, nothing shall prevent any payment by the Trustee to the Holders of monies
deposited with it pursuant to Section 4.1, and any such payment shall not be subject to the provisions of Section 15.1
or 15.2.

 

The
Trustee, subject to the provisions of Section 6.1, shall be entitled to rely on the delivery to it of a written notice
by a Representative or a person representing himself to be a holder of Senior Debt (or a trustee on behalf of such holder) to
establish that such notice has been given by a Representative or a holder of Senior Debt or a trustee on behalf of any such
holder or holders.  The Trustee shall not be required to make any payment or distribution to or on behalf of a holder of
Senior Debt pursuant to this Article 15 unless it has received satisfactory evidence as to the amount of Senior Debt
held by such person, the extent to which such person is entitled to participate in such payment or distribution and any other
facts pertinent to the rights of such person under this Article 15.

 

    	49

    	 

    

 

Section 15.6        Trustee’s Relation to Senior Debt.

 

The
Trustee in its individual capacity shall be entitled to all the rights set forth in this Article 15 in respect of any Senior
Debt at any time held by it, to the same extent as any other holder of Senior Debt, and nothing in this Indenture shall deprive
the Trustee of any of its rights as such holder.

 

With
respect to the holders of Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations
as are specifically set forth in this Article 15, and no implied covenants or obligations with respect to the holders of
Senior Debt shall be read into this Indenture against the Trustee.  The Trustee shall not be deemed to owe any fiduciary
duty to the holders of Senior Debt and, subject to the provisions of Section 6.1, the Trustee shall not be liable to any
holder of Senior Debt (i) for any failure to make any payments or distributions to such holders or (ii) if it shall
pay over or deliver to Holders of Securities, the Company or any other Person money or assets to which any holder of Senior Debt
shall be entitled by virtue of this Article 15 or otherwise.

 

Section 15.7        No Impairment of Subordination.

 

No
right of any present or future holder of any Senior Debt to enforce subordination as herein provided shall at any time in any
way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good
faith, by any such holder, or by any noncompliance by the Company, the Trustee or any Holder of Securities with the terms, provisions
and covenants of this Indenture, regardless of any knowledge thereof which any such holder may have or otherwise be charged with.

 

Section 15.8        Certain Conversions/Exchanges Deemed Payment.

 

For
the purposes of this Article 15 only, (1) the issuance and delivery of junior securities upon conversion or exchange
of Securities in accordance with Article 14 or any supplemental indenture with respect to such series of securities or otherwise
(except upon conversion of the Securities in accordance with their terms) shall not be deemed to constitute a payment or distribution
on account of the principal of (or premium, if any) or interest on Securities or on account of the purchase or other acquisition
of Securities, and (2) the payment, issuance or delivery of cash (except in satisfaction of fractional shares upon conversion,
if applicable), property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed
to constitute payment on account of the principal of such Security.  For the purposes of this Section 15.8, the term
“junior securities” means (a) shares of any stock of any class of the Company, or (b) securities of the
Company which are subordinated in right of payment to all Senior Debt which may be outstanding at the time of issuance or delivery
of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided
in this Article.  Nothing contained in this Article 15 or elsewhere in this Indenture or in the Securities is intended
to or shall impair, as among the Company, its creditors other than holders of Senior Debt and the Holders of Securities, the right,
which is absolute and unconditional, of the Holder of any Security to convert such Security in accordance with Article 14.

 

Section 15.9        Article Applicable to Paying Agents.

 

If
at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the
term “Trustee” as used in this Article shall (unless the context otherwise requires) be construed as extending
to and including such Paying Agent within its meaning as fully for all intents and purposes as if such Paying Agent were named
in this Article in addition to or in place of the Trustee; provided, however, that the first paragraph
of Section 15.5 shall not apply to the Company or any Affiliate of the Company if the Company or such Affiliate acts as Paying
Agent.

 

The
Trustee shall not be responsible for the actions or inactions of any other Paying Agents (including the Company if acting as its
own Paying Agent) and shall have no control of any funds held by such other Paying Agents.

 

Section 15.10        Senior Debt Entitled to Rely.

 

The
holders of Senior Debt (including, without limitation, Designated Senior Debt) shall have the right to rely upon this Article 15,
and no amendment or modification of the provisions contained herein shall diminish the rights of such holders unless such holders
shall have agreed in writing thereto.

 

    	50

    	 

    

 

Section 15.11        Reliance on Judicial Order or Certificate of Liquidating Agent.

 

Upon
any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders shall be entitled
to rely upon any order or decree entered by any court of competent jurisdiction in which such dissolution, winding up, liquidation,
reorganization, assignment for the benefit of creditors or marshalling of assets and liabilities of the Company or bankruptcy,
insolvency, receivership or other like proceeding is pending, or a certificate of the trustee in bankruptcy, liquidating trustee,
custodian, receiver, assignee for the benefit of creditors, agent or other person making such payment or distribution, delivered
to the Trustee or to the Holders, for the purpose of ascertaining the persons entitled to participate in such payment or distribution,
the holders of Senior Debt and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts
paid or distributed thereon and all other facts pertinent thereto or to this Article.

 

Section 15.12        Trust Monies Not Subordinated.

 

Notwithstanding
anything contained herein to the contrary, payments from money, U.S. Government Obligations and/or Foreign Government Obligations
held in trust under Article 4 or Article 13 by the Trustee for the payment of the principal of, premium, if any, and
interest on the Securities shall not be subordinated to the prior payment in full of any Senior Debt of the Company or subject
to the restrictions set forth in this Article 15, and none of the Holders shall be obligated to pay over any such amount
to the Company or any holder of Senior Debt of the Company or any other creditor of the Company.

 

[Remainder
of page intentionally left blank]

 

    	51

    	 

    

 

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

 

	 	PROFESSIONAL
    DIVERSITY NETWORK, INC.
	 	 
	 	By:
	 	 
	 	Title:
	 	 
	 	as
    Trustee
	 	 
	 	By:
	 	 
	 	Title:

 

    	52Exhibit 4.1

 

[FORM OF WARRANT]

 

NEITHER THE ISSUANCE AND SALE OF THE
SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE,
SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL SELECTED BY THE HOLDER, IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION
IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING,
THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE
SECURITIES.

 

DROPCAR,
INC.

 

Warrant
To Purchase Common Stock

 

Warrant No.: 2018J-     

Number of Shares of Common Stock:_____________

Date of Issuance: [ ], 2018 (“Issuance Date”)

 

DropCar, Inc., a Delaware
corporation (the “Company”), hereby certifies that, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, [BUYER],
the registered holder hereof or its permitted assigns (the “Holder”), is entitled, subject to the terms set
forth below, to purchase from the Company, at the Exercise Price (as defined below) then in effect, at any time beginning on the
6-month anniversary of the Issuance Date (the “Initial Exercise Date”), but not after 11:59 p.m., New York time,
on the Expiration Date, (as defined below), ______________ (_____________)[1] fully
paid nonassessable shares of Common Stock, subject to adjustment as provided herein (the “Warrant Shares”).
Except as otherwise defined herein, capitalized terms in this Warrant to Purchase Common Stock (including any Warrants to Purchase
Common Stock issued in exchange, transfer or replacement hereof, this “Warrant”) shall have the meanings set
forth in Section 18 or as defined in the Letter Agreement (as defined below). This Warrant is one of the Warrants to purchase Common
Stock (the “Reload Warrants”) issued pursuant to that certain Warrant Repricing Offer Letter, dated as of August
31, 2018 (the “Subscription Date”), by and among the Company and the Holder (the “Letter Agreement”).

 

1.            EXERCISE
OF WARRANT.

 

(a)   Mechanics
of Exercise. Subject to the terms and conditions hereof (including, without limitation, the limitations set forth in Section
1(f)), this Warrant may be exercised by the Holder at any time or times on or after the Initial Exercise Date, in whole or in part,
by (i) delivery of a written notice, in the form attached hereto as Exhibit A (the “Exercise Notice”),
of the Holder’s election to exercise this Warrant and (ii) (A) payment to the Company of an amount equal to the applicable
Exercise Price multiplied by the number of Warrant Shares as to which this Warrant is being exercised (the “Aggregate
Exercise Price”) in cash by wire transfer of immediately available funds or (B) if the provisions of Section 1(d) are
applicable, by notifying the Company that this Warrant is being exercised pursuant to a Cashless Exercise (as defined in Section
1(d)). The Holder shall not be required to deliver the original Warrant in order to effect an exercise hereunder. Execution and
delivery of the Exercise Notice with respect to less than all of the Warrant Shares shall have the same effect as cancellation
of the original Warrant and issuance of a new Warrant evidencing the right to purchase the remaining number of Warrant Shares.
On or before the first (1st) Trading Day following the date on which the Company has received the Exercise Notice, the
Company shall transmit by electronic mail, facsimile an acknowledgment of confirmation of receipt of the Exercise Notice to the
Holder. On or before the third (3rd) Trading Day following the date on which the Company has received the Exercise Notice, so long
as the Holder delivers the Aggregate Exercise Price (or notice of a Cashless Exercise) on or prior to the second (2nd) Trading
Day following the date on which the Company has received the Exercise Notice (the “Share Delivery Date”) (provided
that if the Aggregate Exercise Price (or notice of a Cashless Exercise) has not been

 

 

1
Insert the number of shares of Common Stock equal to the number of Series H-4 Warrants exercised by the Holder.

 

     

     

    

 

delivered by such date, the Share Delivery
Date shall be extended one (1) Trading Day after the Aggregate Exercise Price (or notice of a Cashless Exercise) is delivered),
the Company shall (X) provided that the Company’s transfer agent (“Transfer Agent”) is participating in
The Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program and the Warrant Shares are eligible
to be issued without a restrictive legend, credit such aggregate number of Warrant Shares to which the Holder is entitled pursuant
to such exercise to the Holder’s or its designee’s balance account with DTC through its Deposit/Withdrawal At Custodian
system, or (Y) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program or the Warrant
Shares are not eligible to be issued without a restrictive legend, issue and dispatch by overnight courier to the address as specified
in the Exercise Notice, a certificate, registered in the Company’s share register in the name of the Holder or its designee,
for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise. The Company shall be responsible for
all fees and expenses of the Transfer Agent and all fees and expenses with respect to the issuance of Warrant Shares via DTC, if
any. Upon delivery of the Exercise Notice and the Aggregate Exercise Price (or notice of a Cashless Exercise) (such date of delivery
being the “Exercise Date”), the Holder shall be deemed for all corporate purposes to have become the holder
of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date such Warrant Shares
are credited to the Holder’s DTC account or the date of delivery of the certificates evidencing such Warrant Shares, as the
case may be. If this Warrant is submitted in connection with any exercise pursuant to this Section 1(a) and the number of Warrant
Shares represented by this Warrant submitted for exercise is greater than the number of Warrant Shares being acquired upon an exercise,
then the Company shall as soon as practicable and in no event later than three (3) Trading Days after any exercise and at its own
expense, issue a new Warrant (in accordance with Section 8(d)) representing the right to purchase the number of Warrant Shares
issuable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this Warrant
is exercised. No fractional Warrant Shares are to be issued upon the exercise of this Warrant, but rather the number of Warrant
Shares to be issued shall be rounded up to the nearest whole number. The Company shall pay any and all taxes which may be payable
with respect to the issuance and delivery of Warrant Shares upon exercise of this Warrant; provided,
that the Company shall not be required to pay any tax or governmental charge that may be imposed with respect to any applicable
withholding or the issuance or delivery of the Warrant Shares to any Person other than the Holder, and no such issuance or delivery
shall be made unless and until such Person other than the Holder requesting such issuance has paid to the Company the amount of
any such tax, or has established to the satisfaction of the Company that such tax has been paid. The Company’s obligations
to issue and deliver Warrant Shares in accordance with the terms and subject to the conditions hereof are absolute and unconditional,
irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof,
the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation
or termination. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the
provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares
available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

(b)   Exercise
Price. For purposes of this Warrant, “Exercise Price” means $1.00, subject to adjustment as provided herein.

 

(c)   Company’s
Failure to Timely Deliver Securities. If (I) the Company shall fail for any reason or for no reason on or prior to the Share
Delivery Date either (a) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program and the
Warrant Shares are eligible to be issued without a restrictive legend, to issue to the Holder a certificate without any restrictive
legend for the number of shares of Common Stock to which the Holder is entitled and register such shares of Common Stock on the
Company’s share register or (b) if the Transfer Agent is participating in the DTC Fast Automated Securities Transfer Program
and the Warrant Shares are eligible to be issued without a restrictive legend, to credit the Holder’s balance account with
DTC, for such number of shares of Common Stock to which the Holder is entitled upon the Holder’s exercise of this Warrant
the Warrant Shares are not eligible to be issued without a restrictive legend to issue and dispatch by overnight courier to the
address as specified in the Exercise Notice for delivery on or before the Share Delivery Date a certificate, registered in the
Company’s share register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder
is entitled pursuant to such exercise, or (II) after the Initial Effective Date (as defined in the Registration Statement) and
during the Registration Period (as defined in the Registration Rights Agreement), (x) the Registration Statement (as defined in
the Registration Rights Agreement) covering the resale of all of the Warrant Shares that are the subject of the Exercise Notice
(the “Unavailable Warrant Shares”) is not available for the resale of such Unavailable Warrant Shares, (y) the
Company fails to promptly, but in no event later than as required pursuant

 

     

     

    

 

to the Registration Rights Agreement so notify the Holder
and (z) the Company fails to, on or prior to the Share Delivery Date, deliver the Warrant Shares electronically without any restrictive
legend by crediting such aggregate number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the Holder’s
or its designee’s balance account with DTC through its Deposit/Withdrawal At Custodian system (the event described in the
immediately foregoing clause (II) is hereinafter referred to as a “Notice Failure”) and either a Notice Failure
or an event described in clause (I) above (referred to herein as an “Exercise Failure”) occurs, then, in addition
to all other remedies available to the Holder, (X) the Company shall pay in cash to the Holder on each day after the Share Delivery
Date and during such Notice Failure or Exercise Failure an amount equal to 1.0% of the product of (A) the number of shares of Common
Stock not issued to the Holder on or prior to the Share Delivery Date and to which the Holder is entitled, and (B) the closing
price of the Common Stock on the date of the applicable Exercise Notice, and (Y) the Holder, upon written notice to the Company,
may void its Exercise Notice with respect to, and retain or have returned, as the case may be, any portion of this Warrant that
has not been exercised pursuant to such Exercise Notice; provided that the voiding of an Exercise Notice shall not affect the Company’s
obligations to make any payments which have accrued prior to the date of such notice pursuant to this Section 1(c) or otherwise.
If the Company is required to pay liquidated damages hereunder solely as a result of a Notice Failure, the liquidated damages related
thereto will cease to accrue upon delivery of a written notice to the Holder specifying the correct status of the applicable Registration
Statement. For the avoidance of doubt, the Company acknowledges that the Company may be liable for Registration Delay Payments
pursuant to the Registration Rights Agreement in the event of an Exercise Failure or Notice Failure. In addition to the foregoing,
if an Exercise Failure or Notice Failure occurs, and if on or after the Share Delivery Date the Holder purchases (in an open market
transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale through a broker by the Holder of shares
of Common Stock issuable upon such exercise that the Holder anticipated receiving from the Company (a “Buy-In”),
then the Company shall, within three (3) Trading Days after the Holder’s request and in the Holder’s discretion, either
(i) pay cash to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions and other
reasonable out of pocket expenses related to the Buy-In, if any) for the shares of Common Stock so purchased (such number of shares
not to exceed the number of Warrant Shares failed to be delivered) (the “Buy-In Price”), at which point the
Company’s obligation to deliver such certificate (and to issue such shares of Common Stock) or credit such Holder’s
balance account with DTC for such shares of Common Stock shall terminate, or (ii) promptly honor its obligation to deliver to the
Holder a certificate or certificates representing such shares of Common Stock or credit such Holder’s balance account with
DTC, as applicable, and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of
(A) such number of shares of Common Stock, times (B) the sale price of the Common Stock at which the sell order giving rise to
such purchase obligation was executed. Nothing shall limit the Holder’s right to pursue any other remedies available to it
hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive relief with respect
to the Company’s failure to timely deliver certificates representing shares of Common Stock (or to electronically deliver
such shares of Common Stock) upon the exercise of this Warrant as required pursuant to the terms hereof.

 

(d)   Cashless
Exercise. If at any time after the six month anniversary of the date of the Letter Agreement, there is no effective registration
statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then the Holder
may, in its sole discretion (and without limiting the Holder’s rights and remedies contained herein), exercise this Warrant
in whole or in part and, subject to the provisions of Section 1(a), in lieu of making the cash payment otherwise contemplated
to be made to the Company upon such exercise in payment of the Aggregate Exercise Price, elect instead to receive the number of
Warrant Shares as is computed using the following formula:

 

X =Y(A - B) ÷ A

 

Where:

 

X = the number of Warrant Shares to be issued to the
Holder.

 

Y = the total number of Warrant Shares for which the
Holder has elected to exercise this Warrant pursuant to Section 1(a).

 

A = the Closing Bid Price of the Company’s Common
Stock as of the applicable Exercise Date.

 

B = the Exercise Price in effect under this Warrant
as of the applicable Exercise Date.

 

     

     

    

 

For purposes of Rule 144(d) promulgated
under the 1933 Act, as in effect on the date hereof, it is intended that the Warrant Shares issued in a Cashless Exercise shall
be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have commenced,
on the date this Warrant was originally issued pursuant to the Letter Agreement.

 

(e)   Disputes.
In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the
Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance
with Section 13.

 

(f)   Limitations
on Exercises. Notwithstanding anything to the contrary contained herein, the Company shall not effect the exercise of any portion
of this Warrant, and the Holder shall not have the right to exercise any portion of this Warrant, pursuant to the terms and conditions
of this Warrant and any such exercise shall be null and void and treated as if never made, to the extent that after giving effect
to such exercise, the Holder together with the other Attribution Parties collectively would beneficially own in excess of 9.99%
(the “Maximum Percentage”) of the number of shares of Common Stock outstanding immediately after giving effect
to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by
the Holder and the other Attribution Parties shall include the number of shares of Common Stock held by the Holder and all other
Attribution Parties plus the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which the
determination of such sentence is being made, but shall exclude the number of shares of Common Stock which would be issuable upon
(A) exercise of the remaining, unexercised portion of this Warrant beneficially owned by the Holder or any of the other Attribution
Parties and (B) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company (including,
without limitation, any convertible notes or convertible preferred stock or warrants, including the other Reload Warrants) beneficially
owned by the Holder or any other Attribution Party subject to a limitation on conversion or exercise analogous to the limitation
contained in this Section 1(f). For purposes of this Section 1(f), beneficial ownership shall be calculated in accordance with
Section 13(d) of the Securities Exchange Act of 1934, as amended (the “1934 Act”). For purposes of this Warrant,
in determining the number of outstanding shares of Common Stock the Holder may acquire upon the exercise of this Warrant without
exceeding the Maximum Percentage, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (x) 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 Securities and Exchange Commission (the “SEC”), as the case may be, (y) a more recent public
announcement by the Company or (3) any other written notice by the Company or the Transfer Agent setting forth the number of shares
of Common Stock outstanding (the “Reported Outstanding Share Number”). If the Company receives an Exercise Notice
from the Holder at a time when the actual number of outstanding shares of Common Stock is less than the Reported Outstanding Share
Number, the Company shall (i) notify the Holder in writing of the number of shares of Common Stock then outstanding and, to the
extent that such Exercise Notice would otherwise cause the Holder’s beneficial ownership, as determined pursuant to this
Section 1(f), to exceed the Maximum Percentage, the Holder must notify the Company of a reduced number of Warrant Shares to be
purchased pursuant to such Exercise Notice (the number of shares by which such purchase is reduced, the “Reduction Shares”)
and (ii) as soon as reasonably practicable, the Company shall return to the Holder any exercise price paid by the Holder for the
Reduction Shares. For any reason at any time, upon the written or oral request of the Holder, the Company shall within one (1)
Business Day confirm orally and in writing or by electronic mail to the Holder the number of shares of Common Stock then outstanding.
In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise
of securities of the Company, including this Warrant, by the Holder and any other Attribution Party since the date as of which
the Reported Outstanding Share Number was reported. In the event that the issuance of shares of Common Stock to the Holder upon
exercise of this Warrant results in the Holder and the other Attribution Parties being deemed to beneficially own, in the aggregate,
more than the Maximum Percentage of the number of outstanding shares of Common Stock (as determined under Section 13(d) of the
1934 Act), the number of shares so issued by which the Holder’s and the other Attribution Parties’ aggregate beneficial
ownership exceeds the Maximum Percentage (the “Excess Shares”) shall be deemed null and void and shall be cancelled
ab initio, and the Holder shall not have the power to vote or to transfer the Excess Shares. As soon as reasonably practicable
after the issuance of the Excess Shares has been deemed null and void, the Company shall return to the Holder the exercise price
paid by the Holder for the Excess Shares. Upon delivery of a written notice to the Company, the Holder may from time to time increase
(with such increase not effective until the sixty-first (61st) day after delivery of such notice) or decrease the Maximum
Percentage to any other percentage not in excess of 9.99% as specified in such notice; provided that (i) any such increase in the
Maximum Percentage will not be effective until the sixty-first (61st) day after such notice is delivered to the Company
and (ii) any such increase or decrease will apply only to the Holder and the other Attribution Parties and not to any other holder
of Reload Warrants that is not an Attribution Party of the Holder. For purposes of clarity, the shares of Common Stock issuable
pursuant to the terms of this Warrant in excess of the Maximum Percentage shall not be deemed to be beneficially owned by the Holder
for any purpose including for purposes of Section 13(d) or Rule 16a-1(a)(1) of the 1934 Act. No prior inability to exercise this
Warrant pursuant to this paragraph shall have any effect on the applicability of the provisions of this paragraph with respect
to any subsequent determination of exercisability. The provisions of this paragraph shall be construed and implemented in a manner
otherwise than in strict conformity with the terms of this Section 1(f) to the extent necessary to correct this paragraph or any
portion of this paragraph which may be defective or inconsistent with the intended beneficial ownership limitation contained in
this Section 1(f) or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitation
contained in this paragraph may not be waived and shall apply to a successor holder of this Warrant.

 

     

     

    

 

(g)   Insufficient
Authorized Shares. If at any time while this Warrant remains outstanding the Company does not have a sufficient number of authorized
and unreserved shares of Common Stock to satisfy its obligation to reserve for issuance upon exercise of this Warrant at least
a number of shares of Common Stock equal to the number of shares of Common Stock as shall from time to time be necessary to effect
the exercise of all of this Warrant then outstanding (the “Required Reserve Amount” and the failure to have
such sufficient number of authorized and unreserved shares of Common Stock, an “Authorized Share Failure”),
then the Company shall promptly take all action necessary to increase the Company’s authorized shares of Common Stock to
an amount sufficient to allow the Company to reserve the Required Reserve Amount for this Warrant then outstanding. Without limiting
the generality of the foregoing sentence, as soon as practicable after the date of the occurrence of an Authorized Share Failure,
but in no event later than sixty (60) days after the occurrence of such Authorized Share Failure, the Company shall hold a meeting
of its stockholders for the approval of an increase in the number of authorized shares of Common Stock. In connection with such
meeting, the Company shall provide each stockholder with a proxy statement and shall use its commercially reasonable efforts to
solicit its stockholders’ approval of such increase in authorized shares of Common Stock and to cause its board of directors
to recommend to the stockholders that they approve such proposal. Notwithstanding the foregoing, if any such time of an Authorized
Share Failure, the Company is able to obtain the written consent of a majority of the shares of its issued and outstanding Common
Stock to approve the increase in the number of authorized shares of Common Stock without soliciting its stockholders, the Company
may satisfy this obligation by obtaining such consent and submitting for filing with the SEC an Information Statement on Schedule
14C.

 

2.            ADJUSTMENT
OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES. The Exercise Price and the number of Warrant Shares shall be adjusted from
time to time as follows:

  

(a)    Adjustment
Upon Subdivision or Combination of Shares of Common Stock. If the Company at any time on or after the Subscription Date subdivides
(by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock
into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision will be proportionately reduced
and the number of Warrant Shares will be proportionately increased. If the Company at any time on or after the Subscription Date
combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares of Common Stock into
a smaller number of shares, the Exercise Price in effect immediately prior to such combination will be proportionately increased
and the number of Warrant Shares will be proportionately decreased. Any adjustment under this Section 2(a) shall become effective
at the close of business on the date the subdivision or combination becomes effective.

 

3.            RIGHTS
UPON DISTRIBUTION OF ASSETS. If the Company shall declare or make any dividend or other distribution of its assets (or rights
to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation,
any distribution of cash, stock or other securities, property, options, evidence of indebtedness or any other assets by way of
a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled, and the Company shall reserve
the Holder’s pro rata share of the Distribution pending complete exercise of this Warrant, to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock
acquirable upon complete exercise of this Warrant (without regard to any limitations or restrictions on exercise of this Warrant,
including without limitation, the Maximum Percentage) immediately before the date of which a record is taken for such Distribution,
or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the
participation in such Distribution (provided, however, that to the extent that the Holder’s right to participate
in any such Distribution would result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, then the
Holder shall not be entitled to participate in such Distribution to such extent (and shall not be entitled to beneficial ownership
of such shares of Common Stock as a result of such Distribution (and beneficial ownership) to such extent).

 

4.            PURCHASE
RIGHTS; FUNDAMENTAL TRANSACTIONS.

 

(a)   Purchase
Rights. In addition to any adjustments pursuant to Section 2 above, if at any time the Company grants, issues or sells any
Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all of the record
holders of any class of Common Stock (the “Purchase Rights”), then the Holder will be entitled, and the Company
shall reserve the Holder’s pro rata share of the Purchase Rights pending complete exercise of this Warrant, to acquire, upon
the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder
had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations
or restrictions on exercise of this Warrant, including without limitation, the Maximum Percentage) immediately before the date
on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as
of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, that to the extent that the Holder’s right to participate in any such Purchase Right
would result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, then the Holder shall not be entitled
to participate in such Purchase Right to such extent (and shall not be entitled to beneficial ownership of such shares of Common
Stock as a result of such Purchase Right (and beneficial ownership) to such extent).

 

     

     

    

 

(b)   Fundamental
Transactions. In the event of any Fundamental Transaction, this Warrant shall, immediately after such Fundamental Transaction,
remain outstanding and shall thereafter, be exercisable for the number of Warrant Shares then exercisable under this Warrant, subject
to appropriate adjustment (in form and substance satisfactory to the Holder) in the Exercise Price to the value per share for the
Common Stock reflected by the terms of such Fundamental Transaction, and a corresponding immediate adjustment to the number of
Warrant Shares acquirable upon exercise of this Warrant without regard to any limitations or restrictions on exercise, if the value
so reflected is less than the Exercise Price in effect immediately prior to such consolidation, merger, sale or similar transaction).
The provisions of this Section 4(b) shall similarly apply to successive reorganizations, reclassifications, consolidations, mergers,
sales or similar transactions. The Company shall not effect any such Fundamental Transaction unless, prior to the consummation
thereof, the successor Person (if other than the Company) resulting from such Fundamental Transaction, shall assume, by written
instrument substantially similar in form and substance to this Warrant and satisfactory to the Holder, the obligation to deliver
to the Holder the number of Warrant Shares then exercisable under this Warrant, subject to adjustment, in accordance with the foregoing
provisions. Notwithstanding anything to the contrary contained herein, with respect to any Fundamental Transaction, the Holder
shall have the right to elect prior to the consummation of such Fundamental Transaction, to give effect to the exercise rights
contained in Section 1 instead of giving effect to the provisions contained in this Section 4(b) with respect to this Warrant.

 

5.            MANDATORY
EXERCISE.

 

(a)   If
at any time from and after the Initial Exercise Date (i) the VWAP of the Common Stock listed on the Principal Market equals or
exceeds $1.50 (subject to appropriate adjustments for stock splits, stock dividends, recapitalizations, reorganizations, reclassifications,
combinations, reverse stock splits or other similar transactions after the Issuance Date) for not less than ten (10) consecutive
Trading Days (the “Mandatory Exercise Measuring Period”); (ii) the daily average number of shares of Common
Stock listed on the Principal Market traded during the Mandatory Exercise Measuring Period equals or exceeds 150,000 (subject to
appropriate adjustments for stock splits, stock dividends, recapitalizations, reorganizations, reclassifications, combinations,
reverse stock splits or other similar transactions after the Issuance Date); and (iii) no Equity Conditions Failure (as defined
below) has occurred (unless the Holder has waived such Equity Conditions Failure) as of such date (clauses (i), (ii) and (iii),
the “Mandatory Exercise Conditions”), then the Company shall have the right to require the Holder to exercise
all or any portion of this Warrant still unexercised for a cash exercise, as designated in the Mandatory Exercise Notice on the
Mandatory Exercise Date (each as defined below) into fully paid, validly issued and nonassessable shares of Common Stock in accordance
with Section 1 hereof at the Exercise Price as of the Mandatory Exercise Date (as defined below) (a “Mandatory Exercise”).
The Company may exercise its right to require exercise under this Section 5 by delivering within not more than two (2) Trading
Days following the end of such Mandatory Exercise Measuring Period a written notice thereof by facsimile or electronic mail to
the Holder (the “Mandatory Exercise Notice” and the date that the Holder received such notice is referred to
as the “Mandatory Exercise Notice Date”). The Mandatory Exercise Notice shall be irrevocable. The Mandatory
Exercise Notice shall (x) state (I) the Trading Day on which the Mandatory Exercise shall occur, which shall be the third (3rd)
Trading Day following the Mandatory Exercise Notice Date (the “Mandatory Exercise Date”) and (II) the aggregate
number of Warrants which the Company has elected to be subject to such Mandatory Exercise from the Holder (the “Mandatory
Exercise Amount”) pursuant to this Section 5 and (y) certify that the Mandatory Exercise Conditions have been satisfied.
The Mandatory Exercise thereunder may only occur on the Mandatory Exercise Date if there is no Equity Conditions Failure (unless
the Holder has waived such Equity Conditions Failure) during the ten (10) consecutive Trading Day period that occurs immediately
prior to the Mandatory Exercise Date (the “Mandatory Exercise Bring-Down Conditions”).

 

(b)   The
Company shall deliver to the Holder a notice no later than 10:00 a.m., New York Time, on the Mandatory Exercise Date (the “Bring-Down
Notice”), which notice shall certify whether or not the Mandatory Exercise Bring-Down Conditions have been satisfied.
If the Mandatory Exercise Bring-Down Conditions have not been satisfied at such time (and are not waived by the Holder), the Mandatory
Exercise Notice will be null and void, ab initio. Notwithstanding anything to the contrary in this Section 5, until
the Mandatory Exercise has occurred, the Mandatory Exercise Amount may be exercised, in whole or in part, by the Holder into shares
of Common Stock pursuant to Section 1. The Company covenants and agrees that it will honor all Exercise Notices tendered from the
time of delivery of the Mandatory Exercise Notice until the Mandatory Exercise has occurred. Unless otherwise indicated by the
Holder, all Warrants exercised by the Holder after the Mandatory Exercise Notice Date shall reduce the Mandatory Exercise Amount
of this Warrant required to be exercised on the Mandatory Exercise Date. Upon an Equity Conditions Failure, the Holder may revoke
any Exercise Notice delivered after the Mandatory Exercise Notice is received by the Holder, and the Company, within one (1) Business
Day of such revocation, shall return the Aggregate Exercise Price applicable to any such Exercise Notice(s) to the Holder by wire
transfer of immediately available funds and any Warrants so exercised shall be deemed reinstated and returned to the Holders, if
applicable. Delivery of any shares of Common Stock issuable pursuant to a Mandatory Exercise shall be made electronically to the
Holder’s or its designee’s balance account with DTC through its Deposit / Withdrawal at Custodian system in accordance
with the provisions of Section 1 above.

 

Notwithstanding anything
to the contrary contained herein, if the Holder’s obligation to exercise this Warrant upon a Mandatory Exercise would result
in the Holder exceeding the Maximum Percentage, the Holder shall still be required to exercise the Warrants and pay the Exercise
Price for all Warrant Shares (without regard to the Maximum Percentage), but the Holder shall not be entitled to receive any such
Excess Shares (or the beneficial ownership of, including voting rights with respect to, any such Excess Shares) and any Excess
Shares shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result
in the Holder exceeding the Maximum Percentage.

 

     

     

    

 

6.            NONCIRCUMVENTION.
The Company hereby covenants and agrees that the Company will not, by amendment of its Certificate of Incorporation or Bylaws,
or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of
securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant,
and will at all times in good faith carry out all of the provisions of this Warrant and take all action as may be required to protect
the rights of the Holder. Without limiting the generality of the foregoing, the Company (i) shall not increase the par value
of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect, (ii) shall
take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and
nonassessable shares of Common Stock upon the proper exercise of this Warrant by the Holder, and (iii) shall, so long as any of
the Reload Warrants are outstanding, take all action necessary to reserve and keep available out of its authorized and unissued
shares of Common Stock, solely for the purpose of effecting the exercise of the Reload Warrants, the number of shares of Common
Stock as shall from time to time be necessary to effect the exercise of the Reload Warrants then outstanding (without regard to
any limitations on exercise).

 

7.            WARRANT
HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided herein, the Holder, solely in such Person’s
capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital
of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in
such Person’s capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to vote,
give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation,
merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to
the issuance to the Holder of the Warrant Shares which such Person is then entitled to receive upon the due exercise of this Warrant.
In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities
(upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company
or by creditors of the Company. Notwithstanding this Section 7, the Company shall provide the Holder with copies of the same notices
and other information given to the stockholders of the Company generally, contemporaneously with the giving thereof to the stockholders.

 

8.            REISSUANCE
OF WARRANTS.

 

(a)   Transfer
of Warrant. If this Warrant is to be transferred, the Holder shall surrender this Warrant to the Company, whereupon the Company
will forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 8(d)), registered as the
Holder may request, representing the right to purchase the number of Warrant Shares being transferred by the Holder and, if less
than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance with Section
8(d)) to the Holder representing the right to purchase the number of Warrant Shares not being transferred.

 

(b)    Lost,
Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Warrant, and, in the case of loss, theft or destruction, of any indemnification undertaking by
the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of this Warrant, the
Company shall execute and deliver to the Holder a new Warrant (in accordance with Section 8(d)) representing the right to purchase
the Warrant Shares then underlying this Warrant.

 

(c)    Exchangeable
for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office of the
Company, for a new Warrant or Warrants (in accordance with Section 8(d)) representing in the aggregate the right to purchase the
number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the right to purchase such portion
of such Warrant Shares as is designated by the Holder at the time of such surrender; provided, however,
that no Reload Warrants for fractional Warrant Shares shall be given.

 

(d)    Issuance
of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant
(i) shall be of like tenor with this Warrant, (ii) shall represent, as indicated on the face of such new Warrant, the right to
purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to Section 8(a)
or Section 8(c), the Warrant Shares designated by the Holder which, when added to the number of shares of Common Stock underlying
the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares then underlying this
Warrant), (iii) shall have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date,
and (iv) shall have the same rights and conditions as this Warrant.

 

     

     

    

 

9.            NOTICES.
Whenever notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall be given in accordance
with the Letter Agreement. The Company shall provide the Holder with prompt written notice of all actions taken pursuant to this
Warrant, including in reasonable detail a description of such action and the reason therefor. Without limiting the generality of
the foregoing, the Company will give written notice to the Holder (i) immediately upon any adjustment of the Exercise Price, setting
forth in reasonable detail, and certifying, the calculation of such adjustment and (ii) at least five (5) days prior to the date
on which the Company closes its books or takes a record (A) with respect to any dividend or distribution upon the shares of Common
Stock, (B) with respect to any grants, issuances or sales of any Options, Convertible Securities or rights to purchase stock, warrants,
securities or other property to holders of shares of Common Stock or (C) for determining rights to vote with respect to any Fundamental
Transaction, dissolution or liquidation; provided in each case that such information shall be made known to the
public prior to or in conjunction with such notice being provided to the Holder.

 

10.          AMENDMENT
AND WAIVER. Except as otherwise provided herein, the provisions of this Warrant may be amended or waived and the Company may
take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained
the written consent of the Required Holders, and with respect to any amendment, the amendment is in writing and signed by the Company,
except that any Holder may waive the Company’s performance hereunder or provide consent as the only such Holder.

 

11.          GOVERNING
LAW; JURISDICTION; JURY TRIAL. This Warrant shall be governed by and construed and enforced in accordance with, and all questions
concerning the construction, validity, interpretation and performance of this Warrant shall be governed by, the internal laws of
the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of
New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of
New York. The Company hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City
of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought
in an inconvenient forum or that the venue of such suit, action or proceeding is improper. The Company hereby irrevocably waives
personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof
to the Company at the address set forth in the Letter Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process
in any manner permitted by law. Nothing contained herein shall be deemed or operate to preclude the Holder from bringing suit or
taking other legal action against the Company in any other jurisdiction to collect on the Company’s obligations to the Holder,
to realize on any collateral or any other security for such obligations, or to enforce a judgment or other court ruling in favor
of the Holder. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR
THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED
HEREBY.

 

12.          CONSTRUCTION;
HEADINGS. This Warrant shall be deemed to be jointly drafted by the Company and all the Buyers and shall not be construed against
any Person as the drafter hereof. The headings of this Warrant are for convenience of reference and shall not form part of, or
affect the interpretation of, this Warrant.

 

13.          DISPUTE
RESOLUTION. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant
Shares, the Company shall submit the disputed determinations or arithmetic calculations via electronic mail or facsimile within
two (2) Business Days of receipt of the Exercise Notice giving rise to such dispute, as the case may be, to the Holder. If the
Holder and the Company are unable to agree upon such determination or calculation of the Exercise Price or the Warrant Shares within
three (3) Business Days of such disputed determination or arithmetic calculation being submitted to the Holder, then the Company
shall, within two (2) Business Days submit via electronic mail or facsimile (a) the disputed determination of the Exercise Price
to an independent, reputable investment bank selected by the Company and approved by the Holder or (b) the disputed arithmetic
calculation of the Warrant Shares to the Company’s independent, outside accountant. The Company shall cause at its expense
the investment bank or the accountant, as the case may be, to perform the determinations or calculations and notify the Company
and the Holder of the results no later than ten (10) Business Days from the time it receives the disputed determinations or calculations.
Such investment bank’s or accountant’s determination or calculation, as the case may be, shall be binding upon all
parties absent demonstrable error.

 

14.          REMEDIES,
OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Warrant shall be cumulative and in addition
to all other remedies available under this Warrant and the other Transaction Documents, at law or in equity (including a decree
of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue actual
damages for any failure by the Company to comply with the terms of this Warrant. The Company acknowledges that a breach by it of
its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate.
The Company therefore agrees that, in the event of any such breach or threatened breach, the holder of this Warrant shall be entitled,
in addition to all other available remedies, to an injunction restraining any breach, without the necessity of showing economic
loss and without any bond or other security being required.

 

     

     

    

 

15.          TRANSFER.
This Warrant and the Warrant Shares may be offered for sale, sold, transferred, pledged or assigned without the consent of the
Company.

 

16.          SEVERABILITY.
If any provision of this Warrant is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent
jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the
broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect
the validity of the remaining provisions of this Warrant so long as this Warrant as so modified continues to express, without material
change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability
of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties
or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good
faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which
comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

17.          DISCLOSURE.
Upon receipt or delivery by the Company of any notice in accordance with the terms of this Warrant, unless the Company has in good
faith determined that the matters relating to such notice do not constitute material, nonpublic information relating to the Company
or its subsidiaries, the Company shall within four (4) Business Days after any such receipt or delivery publicly disclose such
material, nonpublic information on a Current Report on Form 8-K or otherwise. In the event that the Company believes that a notice
contains material, nonpublic information relating to the Company or its subsidiaries, the Company so shall indicate to such Holder
contemporaneously with delivery of such notice, and in the absence of any such indication, the Holder shall be allowed to presume
that all matters relating to such notice do not constitute material, nonpublic information relating to the Company or its subsidiaries.

 

18.          CERTAIN
DEFINITIONS. For purposes of this Warrant, the following terms shall have the following meanings:

 

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

 

(b)   “Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

  

(c)    “Attribution
Parties” means, collectively, the following Persons and entities: (i) any investment vehicle, including, any funds, feeder
funds or managed accounts, currently, or from time to time after the Issuance Date, directly or indirectly managed or advised by
the Holder’s investment manager or any of its Affiliates or principals, (ii) any Affiliates of the Holder or any of the foregoing,
(iii) any Person acting or who could be deemed to be acting as a Group together with the Holder or any of the foregoing and (iv)
any other Persons whose beneficial ownership of the Company’s Common Stock would or could be aggregated with the Holder’s
and the other Attribution Parties for purposes of Section 13(d) of the 1934 Act. For clarity, the purpose of the foregoing is to
subject collectively the Holder and all other Attribution Parties to the Maximum Percentage.

 

(d)   “Bloomberg”
means Bloomberg Financial Markets.

 

(e)    “Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to
close.

 

(f)   “Closing
Bid Price” and “Closing Sale Price” means, for any security as of any date, the last closing bid price
and last closing trade price, respectively, for such security on the Principal Market, as reported by Bloomberg, or, if the Principal
Market begins to operate on an extended hours basis and does not designate the closing bid price or the closing trade price, as
the case may be, then the last bid price or the last trade price, respectively, of such security prior to 4:00:00 p.m., New York
time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange or trading market for such
security, the last closing bid price or last trade price, respectively, of such security on the principal securities exchange or
trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing do not apply, the last closing
bid price or last trade price, respectively, of such security in the over-the-counter market on the electronic bulletin board for
such security as reported by Bloomberg, or, if no closing bid price or last trade price, respectively, is reported for such security
by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers for such security as reported
in the OTC Link or “pink sheets” by OTC Markets Group Inc. (formerly Pink OTC Markets Inc.). If the Closing Bid Price
or the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Bid
Price or the Closing Sale Price, as the case may be, of such security on such date shall be the fair market value as mutually determined
by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then
such dispute shall be resolved pursuant to Section 13. All such determinations to be appropriately adjusted for any stock dividend,
stock split, stock combination, reclassification or other similar transaction during the applicable calculation period.

 

     

     

    

 

(g)   “Common
Stock” means (i) the Company’s shares of Common Stock, par value $0.0001 per share, and (ii) any share
capital into which such Common Stock shall have been changed or any share capital resulting from a reclassification of such Common
Stock.

 

(h)    “Common
Stock Equivalents” means any securities of the Company or its Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.

 

(i)   “Convertible
Securities” means any stock or securities (other than Options) directly or indirectly convertible into or exercisable
or exchangeable for shares of Common Stock.

 

(j)   “Eligible
Market” means the Principal Market, the NYSE American, The NASDAQ Capital Market, The NASDAQ Global Market, The NASDAQ
Global Select Market, or The New York Stock Exchange, Inc.

 

(k)     “Equity
Conditions” means each of the following conditions: (i) a registration statement shall be effective and available for
the issuance or resale of all remaining Warrant Shares issuable upon exercise of this Warrant; (ii) the Company shall have delivered
all shares of Common Stock upon exercise of all warrants previously exercised by the Holder, including under this Warrant, in each
case in accordance with the terms of the applicable warrants; (iii) any applicable shares of Common Stock to be issued in connection
with the event requiring determination may be issued in full without violating the rules or regulations of the Principal Market
or any other applicable Eligible Market; (iv) the Holder shall not be in possession of any material, nonpublic information received
from the Company, any Subsidiary or any of their respective agents or affiliates; and (v) the shares of Common Stock issuable pursuant
the event requiring the satisfaction of the Equity Conditions are duly authorized and listed and eligible for trading without restriction
on an Eligible Market. For point of clarification, the non-delivery of shares of Common Stock as a result of their designation
as “Excess Shares” shall not constitute an Equity Conditions Failure.

 

(l)     “Equity
Conditions Failure” means that on any day during the period commencing ten (10) Trading Days prior to the applicable
date of determination through the applicable date of determination, the Equity Conditions have not been satisfied (or waived in
writing by the Holder).

 

(m)    “Expiration
Date” means the date sixty (60) months after the Initial Exercise Date or, if such date falls on a day other than a Business
Day or on which trading does not take place on the Principal Market (a “Holiday”), the next day that is not
a Holiday.

 

(n)     “Fundamental
Transaction” means (A) that the Company shall, directly or indirectly, including through Subsidiaries, Affiliates or
otherwise, in one or more related transactions, (i) consolidate or merge with or into (whether or not the Company is the surviving
corporation) another Subject Entity, or (ii) sell, assign, transfer, convey or otherwise dispose of all or substantially all of
the properties or assets of the Company or any of its “significant subsidiaries” (as defined in Rule 1-02 of Regulation
S-X) to one or more Subject Entities, or (iii) make, or allow one or more Subject Entities to make, or allow the Company to be
subject to or have its Common Stock be subject to or party to one or more Subject Entities making, a purchase, tender or exchange
offer that is accepted by the holders of at least either (x) 50% of the outstanding shares of Common Stock, (y) 50% of the outstanding
shares of Common Stock calculated as if any shares of Common Stock held by all Subject Entities making or party to, or Affiliated
with any Subject Entities making or party to, such purchase, tender or exchange offer were not outstanding; or (z) such number
of shares of Common Stock such that all Subject Entities making or party to, or Affiliated with any Subject Entity making or party
to, such purchase, tender or exchange offer, become collectively the beneficial owners (as defined in Rule 13d-3 under the 1934
Act) of at least 50% of the outstanding shares of Common Stock, or (iv) consummate a stock purchase agreement or other business
combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with one or
more Subject Entities whereby all such Subject Entities, individually or in the aggregate, acquire, either (x) at least 50% of
the outstanding shares of Common Stock, (y) at least 50% of the outstanding shares of Common Stock calculated as if any shares
of Common Stock held by all the Subject Entities making or party to, or Affiliated with any Subject Entity making or party to,
such stock purchase agreement or other business combination were not outstanding; or (z) such number of shares of Common Stock
such that the Subject Entities become collectively the beneficial owners (as defined in Rule 13d-3 under the 1934 Act) of at least
50% of the outstanding shares of Common Stock, or (v) reorganize, recapitalize or reclassify its Common Stock, (B) that the Company
shall, directly or indirectly, including through subsidiaries, Affiliates or otherwise, in one or more related transactions, allow
any Subject Entity individually or the Subject Entities in the aggregate to be or become the “beneficial owner” (as
defined in Rule 13d-3 under the 1934 Act), directly or indirectly, whether through acquisition, purchase, assignment, conveyance,
tender, tender offer, exchange, reduction in outstanding shares of Common Stock, merger, consolidation, business combination, reorganization,
recapitalization, spin-off, scheme of arrangement, reorganization, recapitalization or reclassification or otherwise in any manner
whatsoever, of either (x) at least 50% of the aggregate ordinary voting power represented by issued and outstanding Common Stock,
(y) at least 50% of the aggregate ordinary voting power represented by issued and outstanding Common Stock not held by all such
Subject Entities as of the date of this Warrant calculated as if any shares of Common Stock held by all such Subject Entities were
not outstanding, or (z) a percentage of the aggregate ordinary voting power represented by issued and outstanding shares of Common
Stock or other equity securities of the Company sufficient to allow such Subject Entities to effect a statutory short form merger
or other transaction requiring other stockholders of the Company to surrender their shares of Common Stock without approval of
the stockholders of the Company or (C) directly or indirectly, including through subsidiaries, Affiliates or otherwise, in one
or more related transactions, the issuance of or the entering into any other instrument or transaction structured in a manner to
circumvent, or that circumvents, the intent of this definition in which case this definition shall be construed and implemented
in a manner otherwise than in strict conformity with the terms of this definition to the extent necessary to correct this definition
or any portion of this definition which may be defective or inconsistent with the intended treatment of such instrument or transaction;
provided, however, that notwithstanding the foregoing, one or more bona fide transactions the primary purpose of which is to raise
capital shall not constitute a Fundamental Transaction, provided, further, that no single Subject Entity party to such bona fide
transaction acquires beneficial ownership of 25% or more of the outstanding shares of Common Stock.

 

     

     

    

 

(o)   “Group”
means a “group” as that term is used in Section 13(d) of the 1934 Act and as defined in Rule 13d-5 thereunder.

 

(p)    “Options”
means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities.

 

(q)    “Parent
Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person, including such entity
whose common shares or common stock or equivalent equity security is quoted or listed on an Eligible Market (or, if so elected
by the Required Holders, any other market, exchange or quotation system), or, if there is more than one such Person or such entity,
the Person or such entity designated by the Required Holders or in the absence of such designation, such Person or entity with
the largest public market capitalization as of the date of consummation of the Fundamental Transaction.

 

(r)    “Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

(s)    “Principal
Market” means the Nasdaq Capital Market.

 

(t)     “Registration
Rights Agreement” means that certain Registration Rights Agreement dated as of the date of the Securities Purchase Agreement
by and among the Company and the Buyers.

 

(u)    “Required
Holders” means the holders of the Reload Warrants representing at least a majority of the shares of Common Stock underlying
the Reload Warrants then outstanding.

 

(v)     “Shareholder
Approval” means such approval as may be required by the applicable rules and regulations of the Nasdaq Stock Market (or
any successor entity) from the shareholders of the Company with respect to the transactions contemplated by the Transaction Documents.

 

(w)   “Subject
Entity” means any Person, Persons or Group or any Affiliate or associate of any such Person, Persons or Group.

 

(x)   “Successor
Entity” means one or more Person or Persons (or, if so elected by the Holder, the Company or Parent Entity) formed by,
resulting from or surviving any Fundamental Transaction or one or more Person or Persons (or, if so elected by the Holder, the
Company or the Parent Entity) with which such Fundamental Transaction shall have been entered into.

 

(y)  “Trading
Day” means any day on which the Common Stock is traded on the Principal Market, or, if the Principal Market is not the
principal trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common
Stock is then traded; provided that “Trading Day” shall not include any day on which the Common Stock
is scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading
during the final hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing
time of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New York time).

 

[Signature Page Follows]

 

     

     

    

 

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to Purchase Common Stock to be duly executed as of the Issuance Date set out above.

 

	 	DROPCAR, INC.
	 	 	 
	 	By:	 
	 	Name:	Spencer Richardson
	 	Title:	Chief Executive Officer

 

[Signature Page to Warrant]

 

     

     

    

 

EXHIBIT A

 

EXERCISE NOTICE

TO BE EXECUTED BY THE REGISTERED HOLDER
TO EXERCISE THIS

WARRANT TO PURCHASE COMMON STOCK

 

DROPCAR,
INC.

The undersigned holder
hereby exercises the right to purchase _________________ of the shares of Common Stock (“Warrant Shares”) of
DropCar, Inc., a Delaware corporation (the “Company”), evidenced by the attached Warrant to Purchase Common
Stock No. ____ (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective
meanings set forth in the Warrant.

 

1. Form of Exercise
Price. The Holder intends that payment of the Exercise Price shall be made as:

 

____________   a “Cash
Exercise” with respect to _________________ Warrant Shares; and/or

 

____________   a “Cashless
Exercise” with respect to _______________ Warrant Shares.

 

2. Payment of Exercise
Price. In the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued
pursuant hereto, the holder shall pay the Aggregate Exercise Price in the sum of $___________________ to the Company in accordance
with the terms of the Warrant.

 

3. Delivery of Warrant
Shares. The Company shall deliver to the holder __________ Warrant Shares in accordance with the terms of the Warrant.

 

	_______ Electronic Delivery	DTC Participant:	 
	 	DTC Number:	 
	 	Account Name:	 
	 	Account Number:	 
	 	 	 
	_______ Physical Delivery	Address:	 
	 	 	 
	 	 	 

 

Date: _______________ __, ______

 

	 	 
	Name of Registered Holder	 

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

     

     

    

 

ACKNOWLEDGMENT

 

The Company hereby
acknowledges this Exercise Notice and hereby directs Interwest Transfer Company, Inc. to issue the above indicated number of shares
of Common Stock in accordance with the Exercise Notice.

 

	 	DROPCAR, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:

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