Document:

Exhibit 10.3

 

INVESTOR RIGHTS AGREEMENT

 

THIS INVESTOR RIGHTS AGREEMENT
(this “Agreement”) is made as of October 13th, 2022, by and among Next Fintech Holdings, Inc., a Delaware corporation
(the “Company”), and the investors listed on Schedule A attached to this Agreement (each an “Investor”
and together the “Investors”).

 

WHEREAS, the Company
and certain Investors are parties to that certain Stock Purchase Agreement, of even date herewith (the “Purchase Agreement”),
pursuant to which the Investors have agreed to (i) purchase shares of the Common Stock of the Company, par value $0.0001 per share (the
“Common Stock”) and (ii) warrants to purchase shares of NextPlay Technologies, Inc., the parent corporation of the
Company (the “Parent”) held by NextBank International, Inc. (also a subsidiary of the Parent (“NextBank”).

 

NOW, THEREFORE, the
Company and the Investors agree as follows:

 

1.   Definitions.

 

1.1   “Affiliate”
means, without limitation, any general partner, managing member, officer, director or trustee, or any venture capital fund or other investment
fund now or hereafter existing which is controlled by one or more general partners, managing members or investment advisers of, or shares
the same management company or investment adviser with, such party.

 

1.2   “Board
of Directors” means the board of directors of the Company.

 

1.3   “Certificate
of Incorporation” means the Company’s Certificate of Incorporation, as amended and/or restated from time to time.

 

1.4   “Change
of Control” means a transaction or series of related transactions in which a person, or a group of related persons, acquires
from stockholders of the Company shares representing more than fifty percent (50%) of the outstanding voting power of the Company.

 

1.5   “Company
Notice” means written notice from the Company notifying the selling Investors and Parent that the Company intends to exercise
its Right of First Refusal as to all of the Transfer Stock with respect to any Proposed Investor Transfer.

 

1.6   “DPA”
means Section 721 of the Defense Production Act, as amended, including all implementing regulations thereof.

 

1.7   “DPA
Triggering Rights” means (i) “control” (as defined in the DPA); (ii) access to any “material non-public technical
information” (as defined in the DPA) in the possession of the Company; (iii) membership or observer rights on the Board of Directors
or equivalent governing body of the Company or the right to nominate an individual to a position on the Board of Directors or equivalent
governing body of the Company; (iv) any involvement, other than through the voting of shares, in substantive decision-making of the Company
regarding (x) the use, development, acquisition or release of any Company “critical technology” (as defined in the DPA); (y)
the use, development, acquisition, safekeeping, or release of “sensitive personal data” (as defined in the DPA) of U.S. citizens
maintained or collected by the Company, or (z) the management, operation, manufacture, or supply of “covered investment critical
infrastructure” (as defined in the DPA).

 

     

     

    

 

1.8   “Foreign
Person” means either (i) a Person or government that is a “foreign person” within the meaning of the DPA or (ii)
a Person through whose investment a “foreign person” within the meaning of the DPA would obtain any DPA Triggering Rights.

 

1.9   “Parent”
means NextPlay Technologies, Inc.

 

1.10   “Parent
Notice” means written notice from Parent notifying the Company and the selling Investor(s) that Parent intends to exercise its
Secondary Refusal Right as to the Transfer Stock with respect to any Proposed Investor Transfer.

 

1.11   “Proposed
Investor Transfer” means any assignment, sale, offer to sell, pledge, mortgage, hypothecation, encumbrance, disposition or any
other like transfer or encumbering of any Transfer Stock (or any interest therein) proposed by any of the Investors.

 

1.12   “Proposed
Transfer Notice” means written notice from an Investor setting forth the terms and conditions of a Proposed Investor.

 

1.13   “Prospective
Transferee” means any person to whom an Investor proposes to make a Proposed Investor Transfer.

 

1.14
“Right of First Refusal” means the right, but not an obligation, of the Company, or its permitted transferees or assigns,
to purchase all of the Transfer Stock with respect to a Proposed Investor Transfer, on the terms and conditions specified in the Proposed
Transfer Notice.

 

1.15   “Secondary
Notice” means written notice from the Company notifying Parent and the selling Investor that the Company does not intend to
exercise the Right of First Refusal as to the Transfer Stock with respect to a Proposed Investor Transfer, on the terms and conditions
specified in the Proposed Transfer Notice.

 

1.16   “Secondary
Refusal Right” means the right, but not an obligation, of Parent to purchase all of the Transfer Stock not purchased by the
Company pursuant to the Right of First Refusal, on the terms and conditions specified in the Proposed Transfer Notice.

 

1.17   “Transfer
Stock” means shares of Common Stock owned by an Investor, or issued to an Investor after the date hereof (including, without
limitation, in connection with any stock split, stock dividend, recapitalization, reorganization, or the like).

 

2.   Agreement
Among the Company, Parent and the Investors.

 

2.1   Right
of First Refusal.

 

(a)   Grant.
Subject to the terms of Section ‎2.3 below, each Investor hereby unconditionally and irrevocably grants to the Company a Right
of First Refusal to purchase all of the Transfer Stock that such Investor may propose to transfer in a Proposed Investor Transfer, at
the same price and on the same terms and conditions as those offered to the Prospective Transferee. Notwithstanding anything to the contrary
in this Agreement, an Investor may not make a Proposed Investor Transfer until the 2-year anniversary of the date hereof.

 

    2

     

    

 

(b)   Notice.
Each Investor proposing to make a Proposed Investor Transfer must deliver a Proposed Transfer Notice to the Company and Parent not later
than forty-five (45) days prior to the consummation of such Proposed Investor Transfer. Such Proposed Transfer Notice shall contain the
material terms and conditions (including price and form of consideration) of the Proposed Investor Transfer, the identity of the Prospective
Transferee and the intended date of the Proposed Investor Transfer. To exercise its Right of First Refusal under this Section ‎2,
the Company must deliver a Company Notice to the selling Investor, Parent within ten (10) days after delivery of the Proposed Transfer
Notice specifying the number of shares of Transfer Stock to be purchased by the Company.

 

(c)   Grant
of Secondary Refusal Right to Parent. Subject to the terms of Section ‎2.3 below, each Investor hereby unconditionally
and irrevocably grants to Parent a Secondary Refusal Right entitling Parent the right to purchase all of the Transfer Stock not purchased
in the event that the Company does not exercise the Right of First Refusal, as provided in this Section ‎2.1(c). If the Company
does not provide the Company Notice exercising its Right of First Refusal with respect to all Transfer Stock subject to a Proposed Investor
Transfer, the Company must deliver a Secondary Notice to the selling Investor and to Parent to that effect no later than ten (10) days
after the selling Investor delivers the Proposed Transfer Notice to the Company. To exercise the Secondary Refusal Right, Parent must
deliver a Parent Notice to the selling Investor and the Company within ten (10) days after the Company’s deadline for its delivery
of the Secondary Notice as provided in the preceding sentence.

 

(d)   Consideration;
Closing. If the consideration proposed to be paid for the Transfer Stock is in property, services or other non-cash consideration,
the fair market value of the consideration shall be as determined in good faith by the Board of Directors and as set forth in the Company
Notice. If the Company or Parent cannot for any reason pay for the Transfer Stock in the same form of non-cash consideration, the Company
or Parent may pay the cash value equivalent thereof, as determined in good faith by the Board of Directors and as set forth in the Company
Notice. The closing of the purchase of Transfer Stock by the Company and Parent shall take place, and all payments from the Company and
Parent shall have been delivered to the selling Investor, by the later of (i) the date specified in the Proposed Transfer Notice as the
intended date of the Proposed Investor Transfer; and (ii) forty-five (45) days after delivery of the Proposed Transfer Notice.

 

2.2   Effect
of Failure to Comply.

 

(a)   Transfer
Void; Equitable Relief. Any Proposed Investor Transfer not made in compliance with the requirements of this Agreement, and other than
to the Company or Parent, shall be null and void ab initio, shall not be recorded on the books of the Company or its transfer agent and
shall not be recognized by the Company. Each party hereto acknowledges and agrees that any breach of this Agreement would result in substantial
harm to the other parties hereto for which monetary damages alone could not adequately compensate. Therefore, the parties hereto unconditionally
and irrevocably agree that any non-breaching party hereto shall be entitled to seek protective orders, injunctive relief and other remedies
available at law or in equity (including, without limitation, seeking specific performance or the rescission of purchases, sales and other
transfers of Transfer Stock not made in strict compliance with this Agreement).

 

    3

     

    

 

(b)   Violation
of First Refusal Right. If any Investor becomes obligated to sell any Transfer Stock to the Company or to Parent under this Agreement
and fails to tender in accordance with 2.1 of this Agreement such Transfer Stock in accordance with the terms of this Agreement, the Company
and/or Parent may, at its option, in addition to all other remedies it may have, send to such Investor the purchase price for such Transfer
Stock as is herein specified and transfer to the name of the Company or Parent (or request that the Company effect such transfer in the
name of an Investor) on the Company’s books any certificates, instruments, or book entry representing the Transfer Stock to be sold.

 

2.3   Drag-Along
Transaction. If a transaction that would result in the sale of fifty percent (50%) or more of the outstanding voting power of the
Company (whether by merger or otherwise) to a third party (a “Drag-Along Transaction”) is approved by the Board, then,
upon ten (10) days written notice to the holders of all Common Stock, which notice shall include substantially all of the material details
of the proposed transaction, including the proposed time and place of closing and the estimated consideration to be received by the holders
in such transaction, no holder shall raise any objection to such Drag-Along Transaction and each holder shall be obligated to, and shall
sell, transfer and deliver, or cause to be sold, transferred and delivered, to such third party, all of its shares of Common Stock, in
the same transaction at the closing thereof. Each holder shall be required to make only representations and warranties on a several and
not joint basis regarding the valid and authorized sale of its shares of Common Stock and that such holder has good and marketable title
to such shares of Common Stock, free and clear of all liens, claims and other encumbrances (other than restrictions imposed pursuant to
applicable securities laws and this Agreement that do not relate to any breach or default by the transferor of such Common Stock hereunder).
The proceeds (net of transaction costs) from such Drag-Along Transaction, including any subsequent distribution of all or any portion
of any indemnification or other escrow, shall be distributed to the Investors pro rata, and the type of consideration and payment terms
applicable to the Common Stock will be identical in all material respects with respect to all the shares in such class or series. Each
Investor shall take all other reasonably necessary and customary actions in connection with the consummation of the Drag-Along Transaction,
including, without limitation, the execution of such agreements, consents and instruments and the performance of such other actions as
are reasonably necessary to effectuate the allocation and distribution of the aggregate consideration upon the Drag-Along Transaction
as set forth herein. If the Investors have any indemnification obligations in connection with a Drag-Along Transaction, (i) the terms
and conditions of each such Investor’s indemnification obligation shall be in proportion to their relative entitlement to proceeds
with respect of such Investor’s shares of Common Stock in connection with the Drag-Along Transaction, such that the indemnification
obligations (and the funding of any escrow) shall be in inverse order that distributions are to be made, and (ii) in no event shall any
Investor be liable for the indemnification obligation of any other Investor or be required to provide indemnification in excess of the
proceeds actually received by such Investor in the Drag-Along Transaction. No Investor shall be required to enter into any covenants that
are not required to be made by all the other holders of shares of Common Stock in connection with a Drag-Along Transaction.

 

    4

     

    

 

3.   Exempt
Transfers.

 

3.1   Exempted
Transfers. Notwithstanding the foregoing or anything to the contrary herein, the provisions of Sections ‎2.1 and 2.2 shall
not apply (a) in the case of an Investor that is an entity, upon a transfer by such Investor to its subsidiaries, affiliates, stockholders,
members, partners, or other equity holders, (b) to a repurchase of Transfer Stock from an Investor by the Company at a price no greater
than that originally paid by such Investor for such Transfer Stock and pursuant to an agreement containing vesting and/or repurchase provisions
approved by a majority of the Board of Directors, or (c) the case of an Investor that is a natural person, upon a transfer of Transfer
Stock by such Investor made for bona fide estate planning purposes, either during his or her lifetime or on death by will or intestacy
to his or her spouse, including any life partner or similar statutorily-recognized domestic partner, child (natural or adopted), or any
other direct lineal descendant of such Investor (or his or her spouse, including any life partner or similar statutorily-recognized domestic
partner) (all of the foregoing collectively referred to as “family members”).

 

3.2   Exempted
Offerings. Notwithstanding the foregoing or anything to the contrary herein, the provisions of Section ‎2
shall not apply to the sale of any Transfer Stock (a) to the public in an offering pursuant to an effective registration statement under
the Securities Act of 1933, as amended (a “Public Offering”); or (b) pursuant to a Deemed Liquidation Event (as defined
in the Certificate of Incorporation).

 

3.3   Prohibited
Transferees. Notwithstanding the foregoing, no Investor shall transfer any Transfer Stock to (a) any entity which, in the determination
of the Board of Directors and Parent, directly or indirectly competes with, or is otherwise adverse to, the Company; (b) any customer,
distributor or supplier of the Company, if the Board of Directors should determine that such transfer would result in such customer, distributor
or supplier receiving information that would place the Company at a competitive disadvantage with respect to such customer, distributor
or supplier; or (c) any Foreign Person that pursuant to any such transfer would acquire any DPA Triggering Rights, unless otherwise approved
by the Board of Directors.

 

4.   Legend.
Each certificate, instrument, or book entry representing shares of Transfer Stock held by the Investors or issued to any permitted transferee
in connection with a transfer permitted by Section ‎3.1 hereof shall be notated with the following legend:

 

THE SALE, PLEDGE, HYPOTHECATION, OR
TRANSFER OF THE SECURITIES REPRESENTED HEREBY IS SUBJECT TO, AND IN CERTAIN CASES PROHIBITED BY, THE TERMS AND CONDITIONS OF A CERTAIN
INVESTOR RIGHTS AGREEMENT BY AND AMONG THE STOCKHOLDER, THE CORPORATION AND CERTAIN OTHER HOLDERS OF STOCK OF THE CORPORATION. COPIES
OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE CORPORATION.

 

Each Investor agrees that the Company may instruct
its transfer agent to impose transfer restrictions on the shares notated with the legend referred to in this Section ‎4 above
to enforce the provisions of this Agreement, and the Company agrees to promptly do so. The legend shall be removed upon termination of
this Agreement at the request of the holder.

 

    5

     

    

 

5.   Lock-Up.

 

5.1   Agreement
to Lock-Up. Each Investor hereby agrees that it will not, without the prior written consent of the managing underwriter, during the
period commencing on the date of the final prospectus relating to the Company’s initial public offering (the “IPO”)
and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days),
or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (1) the publication
or other distribution of research reports; and (2) analyst recommendations and opinions, including, but not limited to, the restrictions
contained in applicable FINRA rules, or any successor provisions or amendments thereto, (a) lend, offer, pledge, sell, contract to
sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase,
or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock held immediately prior to the effectiveness of
the registration statement for the IPO; or (b) enter into any swap or other arrangement that transfers to another, in whole or in
part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (a) or
(b) above is to be settled by delivery of Common Stock or other securities, in cash or otherwise. The foregoing provisions of this Section
‎5 shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement or to the establishment of
a trading plan pursuant to Rule 10b5-1, provided that such plan does not permit transfers during the restricted period, and shall
only be applicable to the Investors if all officers, directors and holders of more than one percent (1%) of the outstanding Common Stock
enter into similar agreements. The underwriters in connection with the IPO are intended third-party beneficiaries of this Section ‎5
and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Investor further
agrees to execute such agreements as may be reasonably requested by the underwriters in the IPO that are consistent with this Section
‎5 or that are necessary to give further effect thereto.

 

5.2   Stop
Transfer Instructions. In order to enforce the foregoing covenant in Section 5.1, the Company may impose stop-transfer instructions
with respect to the shares of Common Stock of each Investor (and transferees and assignees thereof) until the end of such restricted period.

 

6.   Voting
Provisions Regarding the Board.

 

6.1   Shares.
For purposes of this Agreement, the term “Shares” shall mean and include any securities of the Company that the holders
of which are entitled to vote for members of the Board, including, without limitation, all shares of Common Stock, by whatever name called,
now owned or subsequently acquired by a Stockholder, however acquired, whether through stock splits, stock dividends, reclassifications,
recapitalizations, similar events or otherwise.

 

6.2   Board
Composition. Parent and Investors agree to vote, or cause to be voted, all Shares owned by such Stockholder, or over which such Stockholder
has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that at each annual or special
meeting of stockholders at which an election of directors is held or pursuant to any written consent of the stockholders, the following
persons:

 

(a)   Next
Fintech Board. To the board of directors of the Company, as the Investor Director, one person designated from time to time by Investor
(the “Investor Designee”), for so long as such Stockholder and its Affiliates (as defined below) continue to own beneficially
an aggregate of at least 20 shares of Common Stock, which number is subject to appropriate adjustment for any stock splits, stock dividends,
combinations, recapitalizations and the like; and

 

    6

     

    

 

(b)   NextBank
Board. To the board of directors of NextBank, as the Investor Director, one person designated from time to time by Investor (the “NextBank
Investor Designee”), for so long as such Stockholder and its Affiliates (as defined below) continue to own beneficially an aggregate
of at least 20 shares of Common Stock, which number is subject to appropriate adjustment for any stock splits, stock dividends, combinations,
recapitalizations and the like; and

 

(c)   Board
Seat Exchange. In the event that the Investor exercises and consummates the NextBank Exchange Option (as defined in the Purchase Agreement),
the Investor Designee shall resign from the board of directors of the Company, and Investor shall be able to appoint two (2) directors
to the board of directors of Netback in accordance with the rights of Section 6.2(b) above.

 

To the extent that any of
clauses (a) through (c) above shall not be applicable, any member of the Board who would otherwise have been designated in accordance
with the terms thereof shall instead be voted upon by all the Stockholders of the Company entitled to vote thereon in accordance with,
and pursuant to, the Certificate of Incorporation.

 

For purposes of this Agreement,
an individual, firm, corporation, partnership, association, limited liability company, trust or any other entity (collectively, a “Person”)
shall be deemed an “Affiliate” of another Person who, directly or indirectly, controls, is controlled by or is under
common control with such Person, including, without limitation, any general partner, managing member, officer, director or trustee of
such Person, or any venture capital fund or registered investment company now or hereafter existing that is controlled by one (1) or more
general partners, managing members or investment advisers of, or shares the same management company or investment adviser with, such Person.

 

6.3   Failure
to Designate a Board Member. In the absence of any designation from the Persons or groups with the right to designate a director as
specified above, the director previously designated by them and then serving shall be reelected if willing to serve unless such individual
has been removed as provided herein, and otherwise such Board seat shall remain vacant until otherwise filled as provided above.

 

6.4   Removal
of Board Members. Each Stockholder also agrees to vote, or cause to be voted, all Shares owned by such Stockholder, or over which
such Stockholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that:

 

(a)   no
director elected pursuant to Section ‎6.2 of this Agreement may be removed from office
unless (i) such removal is directed or approved by the affirmative vote of the Person(s), or of the holders of at least a majority of
the shares of stock, entitled under Section ‎6.2 to designate that director; or (ii) the
Person(s) originally entitled to designate or approve such director pursuant to Section ‎6.2
is no longer so entitled to designate or approve such director;

 

    7

     

    

 

(b)   any
vacancies created by the resignation, removal or death of a director elected pursuant to Section ‎6.2
shall be filled pursuant to the provisions of this Section ‎6; and

 

(c)   upon
the request of any party entitled to designate a director as provided in Section ‎6.2
to remove such director, such director shall be removed.

 

All Stockholders agree
to execute any written consents required to perform the obligations of this Section ‎6, and the Company agrees at the request
of any Person or group entitled to designate directors to call a special meeting of stockholders for the purpose of electing directors.

 

6.5   No
Liability for Election of Recommended Directors. No Stockholder, nor any Affiliate of any Stockholder, shall have any liability as
a result of designating a person for election as a director for any act or omission by such designated person in his or her capacity as
a director of the Company, nor shall any Stockholder have any liability as a result of voting for any such designee in accordance with
the provisions of this Agreement.

 

7.   Miscellaneous.

 

7.1   Term.
This Agreement shall automatically terminate upon the earlier of (a) immediately prior to the consummation of the Company’s
IPO; and (b) the consummation of a Deemed Liquidation Event (as defined in the Certificate of Incorporation).

 

7.2   Stock
Split. All references to numbers of shares in this Agreement shall be appropriately adjusted to reflect any stock dividend, split,
combination or other recapitalization affecting the Common Stock occurring after the date of this Agreement.

 

7.3   Ownership.
Each Investor represents and warrants that such Investor is the sole legal and beneficial owner of the shares of Transfer Stock subject
to this Agreement and that no other person or entity has any interest in such shares (other than a community property interest as to which
the holder thereof has acknowledged and agreed in writing to the restrictions and obligations hereunder).

 

7.4   Dispute
Resolution. Any unresolved controversy or claim arising out of or relating to this Agreement, except as otherwise provided in this
Agreement, shall be submitted to arbitration by one (1) arbitrator mutually agreed upon by the parties, and if no agreement can be reached
within thirty (30) days after names of potential arbitrators have been proposed by the American Arbitration Association (the “AAA”),
then by one (1) arbitrator having reasonable experience in corporate finance transactions of the type provided for in this Agreement and
who is chosen by the AAA. The arbitration shall take place in New Castle County, Delaware, in accordance with the AAA rules then in effect,
and judgment upon any award rendered in such arbitration will be binding and may be entered in any court having jurisdiction thereof.
There shall be limited discovery prior to the arbitration hearing as follows: (a) exchange of witness lists and copies of documentary
evidence and documents relating to or arising out of the issues to be arbitrated, (b) depositions of all party witnesses and (c)
such other depositions as may be allowed by the arbitrators upon a showing of good cause. Depositions shall be conducted in accordance
with the Delaware Code of Civil Procedure, the arbitrator shall be required to provide in writing to the parties the basis for the award
or order of such arbitrator, and a court reporter shall record all hearings, with such record constituting the official transcript of
such proceedings.

 

    8

     

    

 

The prevailing party shall
be entitled to reasonable attorney’s fees, costs, and necessary disbursements in addition to any other relief to which such party
may be entitled.

 

Waiver
of Jury Trial: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF
THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED
TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION,
INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND
STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY
EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL,
AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

 

7.5   Notices.

 

(a)   All
notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon
the earlier of actual receipt or (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic mail during normal
business hours of the recipient, and if not sent during normal business hours, then on the recipient’s next business day, (c) five
(5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day
after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery, with written verification
of receipt. All communications shall be sent to the respective parties at their address as set forth on Schedule A hereof, as the
case may be, or to such email address or address as subsequently modified by written notice given in accordance with this Section ‎7.5.
If notice is given to the Company, it shall be sent to Next Fintech Holdings, Inc.; and a copy (which copy shall not constitute notice)
shall also be sent to Procopio, Cory, Hargreaves & Savitch LLP, 12544 High Bluff Drive, Suite 400, San Diego, California, Attention:
Christopher L. Tinen, Esq., at christopher.tinen@procopio.com.

 

(b)   Consent
to Electronic Notice. Each Investor and Investor consents to the delivery of any stockholder notice pursuant to the Delaware General
Corporation Law (the “DGCL”), as amended or superseded from time to time, by electronic transmission pursuant to Section
232 of the DGCL (or any successor thereto) at the electronic mail address set forth below such Investor’s or Investor’s name
on the Schedules hereto, as updated from time to time by notice to the Company, or as on the books of the Company. To the extent that
any notice given by means of electronic transmission is returned or undeliverable for any reason, the foregoing consent shall be deemed
to have been revoked until a new or corrected electronic mail address has been provided, and such attempted electronic notice shall be
ineffective and deemed to not have been given. Each Investor and Investor agrees to promptly notify the Company of any change in its electronic
mail address, and that failure to do so shall not affect the foregoing.

 

    9

     

    

 

7.6   Entire
Agreement. This Agreement (including, the Exhibits and Schedules hereto) constitutes the full and entire understanding and agreement
between the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter
hereof existing between the parties are expressly canceled.

 

7.7   Delays
or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon any breach
or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting
party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach
or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default
theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any
breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must
be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement
or by law or otherwise afforded to any party, shall be cumulative and not alternative.

 

7.8   Amendment;
Waiver and Termination. This Agreement may be amended, modified or terminated (other than pursuant to Section ‎7.1 above)
and the observance of any term hereof may be waived (either generally or in a particular instance and either retroactively or prospectively)
only by a written instrument executed by (a) the Company and (b) the Investors holding a majority of the shares of Transfer Stock then
held by all of the Investors. Notwithstanding the foregoing, any amendment or modification that disproportionately affects a particular
Investor or group of Investors shall require the prior written consent of such Investors. Any amendment, modification, termination or
waiver so effected shall be binding upon the Company and the Investors and all of their respective successors and permitted assigns whether
or not such party, assignee or other shareholder entered into or approved such amendment, modification, termination or waiver. The Company
shall give prompt written notice of any amendment, modification or termination hereof or waiver hereunder to any party hereto that did
not consent in writing to such amendment, modification, termination or waiver. No waivers of or exceptions to any term, condition or provision
of this Agreement, in any one (1) or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such
term, condition or provision.

 

7.9   Assignment
of Rights.

 

(a)   The
terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and permitted assigns
of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their
respective successors and permitted assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement.

 

    10

     

    

 

(b)   Any
successor or permitted assignee of any Investor, including any Prospective Transferee who purchases shares of Transfer Stock in accordance
with the terms hereof, shall deliver to the Company and the Investors, as a condition to any transfer or assignment, a counterpart signature
page hereto pursuant to which such successor or permitted assignee shall confirm their agreement to be subject to and bound by all of
the provisions set forth in this Agreement that were applicable to the predecessor or assignor of such successor or permitted assignee.

 

(c)   The
rights of Parent hereunder are not assignable without the Company’s written consent (which shall not be unreasonably withheld, delayed
or conditioned), except (i) to any Affiliate, or (ii) to an assignee or transferee who acquires at least fifty percent (50%) of the outstanding
shares of Common Stock (as adjusted for any stock combination, stock split, stock dividend, recapitalization or other similar transaction),
it being acknowledged and agreed that any such assignment, including an assignment contemplated by the preceding clauses (i) or (ii) shall
be subject to and conditioned upon any such assignee’s delivery to the Company and the other Investors of a counterpart signature
page hereto pursuant to which such assignee shall confirm their agreement to be subject to and bound by all of the provisions set forth
in this Agreement that were applicable to the assignor of such assignee.

 

(d)   Except
in connection with an assignment by the Company by operation of law to the acquirer of the Company, the rights and obligations of the
Company hereunder may not be assigned under any circumstances.

 

7.10   Severability.
The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.

 

7.11   Governing
Law. This Agreement shall be governed by the internal law of the State of Delaware, without regard to conflict of law principles that
would result in the application of any law other than the law of the State of Delaware.

 

7.12   Titles
and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing
or interpreting this Agreement.

 

7.13   Counterparts.
This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Counterparts may be delivered via electronic mail (including pdf or any electronic signature complying
with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered
shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

7.14   Aggregation
of Stock. All shares of Common Stock held or acquired by Affiliated entities or persons shall be aggregated together for the purpose
of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights as among themselves
in any manner they deem appropriate.

 

7.15   Specific
Performance. In addition to any and all other remedies that may be available at law in the event of any breach of this Agreement,
each Investor shall be entitled to specific performance of the agreements and obligations of the Company and the Investors hereunder and
to such other injunction or other equitable relief as may be granted by a court of competent jurisdiction.

 

[Signature Page Follows]

 

    11

     

    

 

IN WITNESS WHEREOF, the parties
have executed this Investor Rights Agreement as of the date first written above.

 

	 	COMPANY:
	 	Next Fintech Holdings, Inc.
	 	 
	 	By:	/s/ J. Todd Bonner
	 	Name:	J. Todd Bonner
	 	Title:	Director
	 	 
	 	INVESTOR:
	 	 
	 	Signature:  	/s/
	 	Name: 	 
	 	 
	 	PARENT:
	 	NextPlay Technologies, Inc.
	 	 
	 	By:	/s/ J. Todd Bonner
	 	Name:	J. Todd Bonner
	 	Title:	Chairman

 

Signature
Page to

Investor Rights Agreement

 

     

     

    

 

SCHEDULE A

 

INVESTORSExhibit 4.2

     

    

     

    THERMO FISHER SCIENTIFIC INC.,

     as Issuer 

     

    AND

     

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

     as Trustee 

     

    TWENTY-FOURTH SUPPLEMENTAL INDENTURE

     

    Dated as of October 20, 2022

     

    0.853% Senior Notes due 2025

     

    1.054% Senior Notes due 2027

     

    1.279% Senior Notes due 2029

     

    1.490% Senior Notes due 2032

     

    2.069% Senior Notes due 2042

     

    2.382% Senior Notes due 2052

     

    
      
        

    

    
    THIS TWENTY-FOURTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) is dated as of October 20, 2022 between THERMO FISHER SCIENTIFIC INC., a Delaware corporation (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, as trustee (the “Trustee”).

     

    RECITALS

     

    WHEREAS, the Company and the Trustee executed and delivered an Indenture, dated as of November 20, 2009 (the “Base Indenture” and, as supplemented by this Supplemental Indenture,
      the “Indenture”), to provide for the issuance by the Company from time to time of unsubordinated debt securities evidencing its unsecured indebtedness.

     

    WHEREAS, the Company has authorized the issuance of ¥22,300,000,000 aggregate principal amount of the Company’s 0.853% Senior Notes due 2025 (the “2025 Notes”), ¥28,900,000,000
      aggregate principal amount of the Company’s 1.054% Senior Notes due 2027 (the “2027 Notes”), ¥4,700,000,00 aggregate principal amount of the Company’s 1.279% Senior Notes due 2029 (the “2029 Notes”), ¥[6,300,000,000 aggregate principal amount of the Company’s 1.490% Senior Notes due 2032 (the “2032 Notes”), ¥14,600,000,000 aggregate principal amount of the
      Company’s 2.069% Senior Notes due 2042 (the “2042 Notes”) and ¥33,300,000,000  aggregate principal amount of the Company’s 2.382% Senior Notes due 2052 (the “2052 Notes”
      and, together with the 2025 Notes, the 2027 Notes, the 2029 Notes, the 2032 Notes and the 2042 Notes, the “Notes”).

     

    WHEREAS, the entry into this Supplemental Indenture by the parties hereto is in all respects authorized by the provisions of the Base Indenture.

     

    WHEREAS, the Company desires to enter into this Supplemental Indenture pursuant to Section 9.01 of the Base Indenture to establish the terms of the Notes in accordance with Section 2.01 of the Base Indenture and to
      establish the form of the Notes in accordance with Sections 2.01(a)(10) and 2.02 of the Base Indenture.

     

    WHEREAS, all things necessary to make this Supplemental Indenture a valid and legally binding agreement according to its terms have been done.

     

    NOW, THEREFORE, for and in consideration of the foregoing premises, the Company and the Trustee, mutually covenant and agree for the equal and proportionate benefit of the respective Holders from time to time of the
      Notes as follows:

     

    ARTICLE I

     

    Section 1.1           Defined Terms.

     

    (1)          Capitalized terms used but not defined in this Supplemental Indenture shall have the meanings ascribed thereto in the Base Indenture.

     

    (2)          A term defined anywhere in this Supplemental Indenture has the same meaning throughout.

     

    
      1

      
        

    

    (3)          The singular includes the plural and vice versa.

     

    (4)          Headings are for convenience of reference only and do not affect the interpretation.

     

    (5)          As used herein, the following defined terms shall have the following meanings with respect to the Notes and this Supplemental Indenture only:

     

    “Additional Amounts” has the meaning set forth in Section 1.4(2).

     

    “Below Investment Grade Rating Event” means, with respect to a series of Notes, such Notes are downgraded below an Investment Grade Rating by any two of the Rating Agencies on any
      date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by the Company of the occurrence of a Change of Control (or pending Change of Control) and ending 60 days
      following consummation of such Change of Control (which Trigger Period shall be extended so long as the rating of such Notes is under publicly announced consideration for possible downgrade by at least two of such Rating Agencies on such 60th day,
      such extension to last with respect to each such Rating Agency until the date on which such Rating Agency considering such possible downgrade either (x) rates such Notes below an Investment Grade Rating or (y) publicly announces that it is no longer
      considering such Notes for possible downgrade, provided that no such extension will occur if on such 60th day such Notes have an Investment Grade Rating from at least two of such Rating Agencies in question
      and are not subject to review for possible downgrade by such Rating Agencies). The Trustee shall not be responsible for monitoring, or charged with knowledge of, the ratings of the Notes.

     

    “Business Day” means any day, other than a Saturday or Sunday or a day on which Federal or State banking institutions in The City of New York, London or Tokyo are authorized or
      required by law, regulation or executive order to close.

     

    “Change of Control” means the occurrence of any of the following:  (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or
      consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act)
      other than the Company or one of its direct or indirect wholly-owned subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) as a result of which any “person” (as that term is used in Section
      13(d)(3) of the Exchange Act) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Company’s outstanding Voting Stock or other Voting Stock into which the
      Company’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (3) the Company consolidates with, or merges with or into, any “person” or “group” (as that term is used in Section
      13(d)(3) of the Exchange Act), or any “person” or “group” consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s Voting Stock or the Voting Stock of such other person is
      converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a
      majority of the Voting Stock of the surviving person or any direct or indirect parent company of the surviving person immediately after giving effect to such transaction; or (4) the adoption of a plan relating to the Company’s liquidation or
      dissolution.  Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (a) the Company becomes a direct or indirect wholly owned subsidiary of a holding company (which shall include a parent company) and
      (b)(i) the holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Voting Stock of the Company immediately prior to that transaction or (ii) no “person” (as that term
      is used in Section 13(d)(3) of the Exchange Act) (other than a holding company satisfying the requirements of this sentence) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more
      than 50% of the voting power of the Voting Stock of such holding company immediately following such transaction.

     

    
      2

      
        

    

    “Change of Control Triggering Event” means, with respect to any series of Notes, the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

     

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

     

    “Common Depositary” means The Bank of New York Mellon, London Branch, as common depositary for the Depositary.

     

    “Depositary” means each of Clearstream Banking, S.A. and Euroclear Bank SA/NV as operator of the Euroclear System.

     

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

     

    “Fitch” means Fitch Ratings Limited, and any successor to its rating agency business.

     

    “Investment Grade Rating” means a rating by Moody’s equal to or higher than Baa3 (or the equivalent under a successor rating category of Moody’s) or a rating by S&P equal to or
      higher than BBB- (or the equivalent under any successor rating category of S&P) or a rating by Fitch equal to or higher than BBB- (or the equivalent under any successor rating category of Fitch).

     

    “Moody’s” means Moody’s Investors Service, Inc., and any successor to its rating agency business.

     

    “Paying Agency Agreement” means the Paying Agency Agreement, dated as of October 20, 2022, between the Company and the Paying Agent.

     

    “Paying Agent” means The Bank of New York Mellon, London Branch, or any successor.

     

    
      3

      
        

    

    “Rating Agencies” means (1) Moody’s, S&P and Fitch; and (2) if any of Moody’s, S&P or Fitch ceases to rate the applicable series of Notes or fails to make a rating of such
      Notes publicly available for any reason, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange Act, selected by the Company (as certified by a resolution of its Board of Directors) as a
      replacement agency for any of Moody’s, S&P or Fitch, or all of them, as the case may be.

     

    “S&P” means S&P Global Ratings, a division of S&P Global, Inc., and any successor to its rating agency business.

     

    “Specified Office of the Paying Agent” means, initially, the London Branch of The Bank of New York Mellon, located at 160 Queen Victoria Street, London EC4V 4LA, England.

     

    “United States” means the United States of America, the states of the United States, and the District of Columbia.

     

    “yen” or “¥” means the lawful currency for the time being of Japan.

     

    Section 1.2           Terms of the Notes.

     

    The following terms relate to the Notes:

     

    (1)          The 2025 Notes shall constitute a separate series of Notes having the title “0.853% Senior Notes due 2025,” the 2027 Notes shall constitute a separate series of Notes having the title “1.054% Senior Notes
      due 2027,” the 2029 Notes shall constitute a separate series of Notes having the title “1.279% Senior Notes due 2029,” the 2032 Notes shall constitute a separate series of Notes having the title “1.490% Senior Notes due 2032,” the 2042 Notes shall
      constitute a separate series of Notes having the title “2.069% Senior Notes due 2042,” and the 2052 Notes shall constitute a separate series of Notes having the title “2.382% Senior Notes due 2052.”

     

    (2)          The aggregate principal amount of the 2025 Notes (the “Initial 2025 Notes”), the 2027 Notes (the “Initial 2027 Notes”), the
      2029 Notes (the “Initial 2029 Notes”), the 2032 Notes (the “Initial 2032 Notes”), the 2042 Notes (the “Initial 2042 Notes”) and
      the 2052 Notes (the “Initial 2052 Notes,” and, together with the Initial 2025 Notes, the Initial 2027 Notes, the Initial 2032 Notes the Initial 2042 Notes and the Initial 2052 Notes, the “Initial Notes”) that may be initially authenticated and delivered under the Indenture shall be ¥22,300,000,000, ¥28,900,000,00, ¥4,700,000,000, ¥6,300,000,000, ¥14,600,000,000 and ¥33,300,000,000, respectively. 
      The Company may from time to time, without giving notice to or seeking the consent of any Holders of Notes of such series, issue additional 2025 Notes (in any such case, the “Additional 2025 Notes”), additional
      2027 Notes (in any such case, the “Additional 2027 Notes”), additional 2029 Notes (in any such case, the “Additional 2029 Notes”), additional 2032 Notes (in any such
      case, the “Additional 2032 Notes”), additional 2042 Notes (in any such case, the “Additional 2042 Notes”) and additional 2052 Notes (in any such case, the “Additional 2052 Notes” and, together with the Additional 2025 Notes, the Additional 2027 Notes, the Additional 2029 Notes, the Additional 2032 Notes and the Additional 2042 Notes, the “Additional Notes”) having the same terms (except for the issue date, offering price and, if applicable, the first interest payment date) and ranking equally and ratably with the Initial 2025 Notes, Initial 2027 Notes, Initial 2029
      Notes, Initial 2032 Notes, the Initial 2042 Notes and the Initial 2052 Notes, as the case may be.  Any Additional Notes of a series and the Initial Notes of such series shall constitute a single series under the Indenture; provided that if any Additional Notes of a series are not fungible with the Initial Notes of such series for U.S. federal income tax purposes, such Additional Notes of such series shall have separate ISIN and Common Code numbers. 
      All references to a series of Notes shall include both the Initial Notes and any Additional Notes of such series, unless the context otherwise requires.  The aggregate principal amount of each of the 2025 Notes, the 2027 Notes, the 2029 Notes, the
      2032 Notes, the 2042 Notes and the 2052 Notes shall be unlimited.

     

    
      4

      
        

    

    (3)          The entire respective Outstanding principal amount of the 2025 Notes, the 2027 Notes, the 2029 Notes, the 2032 Notes, the 2042 Notes and the 2052 Notes shall be payable on October 20, 2025, October 20, 2027,
      October 19, 2029, October 20, 2032, October 20, 2042 and October 18, 2052, respectively.  The principal of each Note payable at maturity or upon earlier redemption shall be paid against presentation and surrender of such Note at the office or agency
      maintained for such purposes in London, initially, the Specified Office of the Paying Agent.

     

     (4)          The rate at which the 2025 Notes shall bear interest shall be 0.853% per annum, the rate at which the 2027 Notes shall bear interest shall be 1.054% per annum, the rate at which the 2029 Notes shall bear
      interest shall be 1.279% per annum, the rate at which the 2032 Notes shall bear interest shall be 1.490% per annum, the rate at which the 2042 Notes shall bear interest shall be 2.069% per annum and the rate at which the 2052 Notes shall bear
      interest shall be 2.382% per annum.  The date from which interest shall accrue on the Notes shall be the most recent Interest Payment Date to which interest has been paid or provided for or, if no interest has been paid, from October 20, 2022. The
      Interest Payment Dates for each series of Notes shall be April 20 and October 20 of each year, beginning on April 20, 2023 until the principal is paid or made available for payment, except that the final interest payment date in 2029, in the case of
      the 2029 Notes, and in 2052, in the case of the 2052 Notes, shall be their respective Stated Maturity; provided that if any Interest Payment Date for any series of Notes falls on a day that is not a Business
      Day, the required payment shall be made on the next Business Day as if it were made on the date the payment to Holders was due and no interest shall accrue on the amount so payable for the period from and after that Interest Payment Date.  The
      regular record dates shall be April 5 and October 5, whether or not a Business Day, immediately preceding the related Interest Payment Date.  Interest on the Notes shall be computed on the basis of a 360 day-year of twelve 30-day months.

     

    (5)          The Notes shall be issuable in whole in the form of one or more registered Global Securities, without coupons, which shall be deposited with, or on behalf of, the applicable Depositary and shall be
      registered in the name of the Common Depositary for, and in respect of interests held through, the applicable Depositary.  Each Note shall be substantially in the form attached hereto as Exhibit A, the terms of which are herein incorporated
      by reference.  The Notes shall be issuable in denominations of ¥100,000,000 or any integral multiple of ¥10,000,000 in excess thereof.

     

    (6)          The Notes shall not have the benefit of any sinking fund.

     

    
      5

      
        

    

    (7)          Except as provided herein, the Holders shall have no special rights in addition to those provided in the Base Indenture upon the occurrence of any particular events.

     

    (8)          The Notes shall be general unsecured and unsubordinated obligations of the Company and shall be ranked equally among themselves.

     

    (9)          The Notes are not convertible into shares of common stock or other securities of the Company.

     

    (10)        The covenants set forth in Section 1.4 hereof shall be applicable to the Notes.

     

    (11)        The transfer and exchange provisions set forth in Section 2.05 of the Base Indenture shall be applicable to the Notes.

     

    (12)        All payments of principal of, and interest (including Additional Amounts, if any) and premium (if any) on, the Notes shall be payable in yen; provided, however, that
      if, on or after October 20, 2022, yen is unavailable to the Company due to the imposition of exchange controls or other circumstances beyond the Company’s control, then all payments in respect of the Notes shall be made in U.S. dollars until the yen
      is again available to the Company or so used.  In such circumstances, the amount payable on any date in yen shall be converted into U.S. dollars at the rate mandated by the U.S. Federal Reserve Board as of the close of business on the second Business
      Day prior to the relevant payment date or, in the event the U.S. Federal Reserve Board has not mandated a rate of conversion, on the basis of the most recent U.S. dollar/yen exchange rate published in The Wall
        Street Journal on or prior to the second Business Day prior to the relevant payment date. Any payment in respect of the Notes so made in U.S. dollars shall not constitute an Event of Default under the Notes or the Indenture. None of the
      Trustee or the Paying Agent shall have any responsibility for any calculation or conversion in connection with the foregoing. Any references elsewhere in the Indenture or the Notes to payments being made in yen notwithstanding, payments shall be made
      in U.S. dollars to the extent set forth in this Section 1.2(12).

     

    (a)          The Bank of New York Mellon, London Branch, shall initially act as the Paying Agent in accordance with the terms of the Paying Agency Agreement. The Company hereby initially designates the Specified Office
      of the Paying Agent as the office to be maintained by it where Notes may be presented for payment, registration of transfer or exchange, and where notices to or demands upon the Company in respect of the Notes or the Indenture may be served. The
      Security Registrar for the Notes shall initially be the Trustee. Upon notice to the Trustee, the Company may at any time vary or terminate the appointment of any Paying Agent or Security Registrar, to appoint additional or other Paying Agents or
      Security Registrars and to approve any change in the office through which any Paying Agent or Security Registrar acts.

     

    (13)        In order to provide for all payments due on the Notes as the same shall become due, the Company shall cause to be paid to the Paying Agent, no later than 10:00 a.m. London time on the Business Day prior to
      the payment date of each Note, at such bank as the Paying Agent shall previously have notified the Company, in immediately available funds sufficient to meet all payments due on such Notes.

     

    
      6

      
        

    

    (14)        Notwithstanding any other provision of this Supplemental Indenture, the Trustee and Paying Agent shall be entitled to make a deduction or withholding from any payment which it makes under this Supplemental
      Indenture for or on account of any present or future taxes, duties or charges if and to the extent so required by any applicable law and any current or future regulations or agreements thereunder or official interpretations thereof or any law
      implementing an intergovernmental approach thereto or by virtue of the relevant Holder failing to satisfy any certification or other requirements in respect of the Notes, in which event the Trustee or Paying Agent shall make such payment after such
      withholding or deduction has been made and shall account to the relevant authorities for the amount so withheld or deducted and shall have no obligation to gross up any payment hereunder or pay any additional amount as a result of such withholding
      tax.

     

    Section 1.3           Redemption Upon Changes in Withholding Taxes.

     

    The Notes of any series may be redeemed, as a whole but not in part, at the option of the Company, upon not less than 10 nor more than 90 days’ notice (which notice shall be irrevocable), at a redemption price equal to
      100% of the principal amount thereof, together with accrued and unpaid interest, if any, to the redemption date and Additional Amounts (as defined in Section 1.4(2)), if any, if as a result of any amendment to, or change in, the laws, regulations,
      rulings or treaties of the United States or other jurisdiction in which the Company or any successor thereof (including a continuing corporation, partnership, limited liability company, joint venture, joint-stock company, association, trust or
      unincorporated organization formed by a consolidation with the Company, into which the Company is merged, or that acquires or leases all or substantially all of the property and assets of the Company) may be organized, as applicable, or any political
      subdivision thereof or therein having the power to tax (a “Taxing Jurisdiction”), or any change in the application or official interpretation of such laws, regulations, rulings or treaties, including any action
      taken by, or change in the published administrative practice of, a taxing authority or a holding by a court of competent jurisdiction (regardless of whether such action, change or holding is with respect to the Company), which amendment or change is
      announced or becomes effective on or after the date the Notes of such series are issued, the Company has become, or there is a material probability that it will become, obligated to pay Additional Amounts on the next date on which any amount would be
      payable with respect to the Notes of such series, and such obligation cannot be avoided by the use of commercially reasonable measures available to the Company not including substitution of the obligor on the Notes; provided, however, that no such
      notice of redemption may be given earlier than 90 days prior to the earliest date on which the Company would be obligated, or there is a material probability the Company would otherwise be obligated, to pay such Additional Amount. Prior to the
      publication or, where relevant, mailing (and/or to the extent permitted by applicable procedures or regulations, electronic delivery) of any notice of redemption described in this paragraph, the Company shall deliver to the Trustee (i) an Officer’s
      Certificate of the Company stating that the obligation to pay Additional Amounts cannot be avoided by the Company taking commercially reasonable measures available to it, as described above, and (ii) a written opinion of independent tax counsel to
      the Company of recognized standing to the effect that the Company has or there is a material probability that it will become obligated to pay Additional Amounts as a result of a change, amendment, official interpretation or application described
      above and that the Company cannot avoid the payment of such Additional Amounts by taking commercially reasonable measures available to it as described above.

     

    
      7

      
        

    

    Section 1.4           Additional Covenants.

     

    The following additional covenants shall apply with respect to the Notes so long as any of the Notes remain Outstanding:

     

    (1)          Change of Control Triggering Event.

     

    (a)          If a Change of Control Triggering Event occurs with respect to any series of the Notes, unless the Company shall have redeemed such series of the Notes in full, as set forth in Section 1.3 of this
      Supplemental Indenture or the Company shall have defeased such series of the Notes or have satisfied and discharged such series of the Notes, as set forth in Article XI of the Base Indenture, the Company shall make an offer (a “Change of Control Offer”) to each Holder of the applicable series of the Notes to repurchase any and all of such Holder’s Notes of such series at a repurchase price in cash equal to 101% of the aggregate principal
      amount of the Notes to be repurchased (such principal amount to be equal to ¥100,000,000 or any integral multiple of ¥10,000,000 in excess thereof), plus accrued and unpaid interest, if any, on the Notes to be repurchased up to, but excluding, the
      date of repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, notice shall be delivered to the Holders of Notes of such series describing the transaction
      or transactions that constitute the Change of Control Triggering Event and offering to repurchase such Notes on the date specified in the notice, which date will be no earlier than 10 days and no later than 60 days from the date such notice is
      delivered (the “Change of Control Payment Date”). Notwithstanding the foregoing, installments of interest on any series of Notes whose Stated Maturity is on or prior to the Change of Control Payment Date shall
      be payable on the applicable Interest Payment Date to the Holders of such Notes registered as such at the close of business on the applicable regular record date pursuant to the Notes and the Indenture.

     

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

     

    	

          	(i)	
            accept for payment all Notes or portions of Notes of the applicable series properly tendered pursuant to the Change of Control Offer;

          

     

    	

          	(ii)	
            deposit with the Trustee or a paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes of the applicable series properly tendered; and

          

     

    	

          	(iii)	
            deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an Officer’s Certificate stating (1) the aggregate principal amount of such series of Notes or portions of such series of Notes being repurchased,
              (2) that all conditions precedent contained herein to make a Change of Control Offer have been complied with and (3) that the Change of Control Offer has been made in compliance with the Indenture.

          

     

    
      8

      
        

    

    The Company shall comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable
      in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with this Section 1.4, the Company shall comply with the
      applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 1.4 by virtue of any such conflict.

     

    (2)          Additional Amounts.

     

    (a)          Unless otherwise required by law, the Company will not deduct or withhold from payments made under or with respect to the Notes of any series for or on account of any present or future taxes, duties, levies,
      imposts, assessments or governmental charges of whatever nature imposed or levied by or on behalf of any Taxing Jurisdiction (“Taxes”). In the event that the Company is required to withhold or deduct any amount
      for or on account of any Taxes from any payment made under or with respect to the Notes of any series, as the case may be, the Company will pay such additional amounts (“Additional Amounts”) so that the net
      amount received by each Holder of the Notes (including Additional Amounts) after such withholding or deduction will equal the amount that such Holder would have received if such Taxes had not been required to be withheld or deducted.

     

    (b)          Additional Amounts will not be payable with respect to a payment made to a Holder of the Notes or a Holder of beneficial interests in global securities representing the Notes where such Holder is subject to
      taxation on such payment by a relevant Taxing Jurisdiction for any reason other than such Holder’s mere ownership of the Notes or for or on account of:

     

    	

          	(i)	
            any Taxes that are imposed or withheld solely because such Holder (or the beneficial owner for whose benefit such Holder holds the Notes) or a fiduciary, settlor, beneficiary, member, shareholder or other equity owner of, or possessor of a
              power over, such Holder (or beneficial owner) if such Holder (or beneficial owner) is an estate, trust, partnership, limited liability company, corporation or other entity:

          

     

    	

          	(A)	
            is or was present or engaged in, or is or was treated as present or engaged in, a trade or business in the Taxing Jurisdiction or has or had a permanent establishment in the Taxing Jurisdiction (in each cash, other than the mere fact of
              ownership of such securities, without another presence or business in such Taxing Jurisdiction);

          

     

    	

          	(B)	
            has or had any present or former connection (other than the mere fact of ownership of the Notes) with the Taxing Jurisdiction imposing such Taxes, including being or having been a national citizen or resident thereof, being treated as
              being or having been a resident thereof or being or having been physically present therein;

          

     

    
      9

      
        

    

    	

          	(C)	
            with respect to any withholding Taxes imposed by the United States, is or was with respect to the United States a personal holding company, a passive foreign investment company, a controlled foreign corporation, a foreign private
              foundation or other foreign tax exempt organization or corporation that has accumulated earnings to avoid United States federal income tax;

          

     

    	

          	(D)	
            actually or constructively owns or owned 10% or more of the total combined voting power of all of Thermo Fisher’s classes of stock within the meaning of Section 871(h)(3) of the Code; or

          

     

    	

          	(E)	
            is or was a bank receiving payments on an extension of credit made pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3) of the Code;

          

     

    	

          	(ii)	
            any estate, inheritance, gift, sales, transfer, excise, personal property or similar Taxes imposed with respect to the Notes, except as otherwise provided herein;

          

     

    	

          	(iii)	
            any Taxes imposed solely as a result of the presentation of the Notes (where presentation is required) for payment on a date more than 15 days after the date on which such payment became due and payable or the date on which payment thereof
              is duly provided for, whichever is later, except to the extent that the beneficiary or Holder thereof would have been entitled to the payment of Additional Amounts had the Notes been presented for payment on any date during such 15-day
              period;

          

     

    	

          	(iv)	
            any Taxes imposed or withheld solely as a result of the failure of such Holder or any other person to comply with applicable certification, information, documentation or other reporting requirements concerning the nationality, residence,
              identity or connection with the Taxing Jurisdiction of such Holder, if such compliance is required by statute, regulation, ruling or administrative practice of the relevant Taxing Jurisdiction or by any applicable tax treaty to which the
              relevant Taxing Jurisdiction is a party as a precondition to relief or exemption from such Taxes;

          

     

    	

          	(v)	
            with respect to withholding Taxes imposed by the United States, any such Taxes imposed by reason of the failure of such Holder to fulfill the statement requirements of sections 871(h) or 881(c) of the Code;

          

     

    	

          	(vi)	
            any Taxes that are payable by any method other than withholding or deduction by the Company or any paying agent from payments in respect of the Notes;

          

     

    	

          	(vii)	
            any Taxes required to be withheld by any paying agent from any payment in respect of the Notes if such payment can be made without such withholding by at least one other paying agent;

          

     

    
      10

      
        

    

    	

          	(viii)	
            any withholding or deduction for Taxes which would not have been imposed if the Notes had been presented to another paying agent in a country that is a member state of the European Union as of the date hereof;

          

     

    	

          	(ix)	
            any withholding or deduction required pursuant to sections 1471 through 1474 of the Code, any regulations or agreements thereunder, official interpretations thereof, any intergovernmental agreement, or any law, rule, guidance or
              administrative practice implementing an intergovernmental agreement entered into in connection with such sections of the Code; or

          

     

    	

          	(x)	
            any combination of items (i), (ii), (iii), (iv), (v), (vi), (vii), (viii) and (ix) above;

          

     

    Additional Amounts also will not be payable to any Holder of the Notes or the Holder of a beneficial interest in a global security representing the Notes that is a fiduciary, partnership, limited liability company or other fiscally transparent
      entity, or to such Holder that is not the sole Holder of such security or Holder of such beneficial interests in such security, as the case may be. The exception, however, will apply only to the extent that a beneficiary or settlor with respect to
      the fiduciary, or a beneficial owner or member of the partnership, limited liability company or other fiscally transparent entity, would not have been entitled to the payment of an Additional Amount had the beneficiary, settlor, beneficial owner or
      member received directly its beneficial or distributive share of the payment.

     

    (c)          The Company will also (i) make such withholding or deduction of Taxes and (ii) remit the full amount of Taxes so deducted or withheld to the relevant Taxing Jurisdiction in accordance with all applicable
      laws. The Company will use its commercially reasonable efforts to obtain from each Taxing Jurisdiction imposing such Taxes certified copies of tax receipts evidencing the payment of any Taxes deducted or withheld. The Company will, upon request, make
      available to the Holders of the Notes, within 90 days after the date the payment of any Taxes so deducted or withheld is due pursuant to applicable law, certified copies of tax receipts evidencing such payment by the Company or if, notwithstanding
      the Company’s efforts to obtain such receipts, the same are not obtainable, other evidence of such payments.

     

    (d)          At least 30 days prior to each date on which any payment under or with respect to the Notes of any series is due and payable for which the Company will be obligated to pay Additional Amounts, with respect to
      such payment, the Company will deliver to the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will be payable, the amounts so payable and such other information as is necessary to enable the Trustee to pay such
      Additional Amounts to Holders of such series of Notes on the payment date.

     

    (e)          In addition, the Company will pay any stamp, issue, registration, documentary or other similar taxes and duties, including interest, penalties and Additional Amounts with respect thereto, payable in the
      United States or any political subdivision or taxing authority of or in the United States in respect of the creation, issue, offering, enforcement, redemption or retirement of the Notes of any series.

     

    
      11

      
        

    

    (f)          The provisions of this Section 1.4(2) shall survive any termination or the discharge of this Supplemental Indenture and shall apply mutatis mutandis to any jurisdiction in which the Company or any successor
      Person to the Company is organized or is engaged in business for tax purposes or any political subdivisions or taxing authority or agency thereof or therein; provided, however, the date on which the Company changes its jurisdiction in which it is
      organized or such Person becomes a successor to the Company shall be substituted for the date on which the applicable series of Notes was issued.

     

    (g)          Whenever in this Supplemental Indenture or the Notes there is mentioned, in any context, the payment of principal and premium, if any, redemption price, interest or any other amount payable under or with
      respect to any Note, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof.

     

    Section 1.5           Events of Default.

     

    (a)          The provisions of Article VI of the Base Indenture shall be applicable to each series of the Notes, except that clauses (1) through (7) of Section 6.01(a) thereof shall be modified with respect to Notes of a
      series as follows:

     

    (1)          default in the payment of the principal or any premium on such series of Notes when due (whether at maturity, upon acceleration, redemption or otherwise);

     

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

     

    (3)          (i) failure by the Company to comply with Section 1.4(1) of this Supplemental Indenture with respect to such series of Notes or (ii) failure by the Company to observe or perform any term of the Indenture
      applicable to such series of Notes (other than those referred to in (1) or (2) above or (3)(i) above) for a period of 90 days after the Company receives a notice of default stating that the Company is in breach. The notice required under 3(ii) above
      must be sent by either the Trustee or Holders of 25% of the principal amount of the applicable series of Notes;

     

    (4)          (A) failure by the Company to pay indebtedness for money borrowed by the Company or for which the Company has guaranteed the payment, in an aggregate principal amount of at least $500,000,000, at the later
      of final maturity and the expiration of any related applicable grace period and such defaulted payment shall not have been made, waived or extended within 30 days or (B) acceleration of the maturity of any indebtedness for money borrowed by the
      Company or for which the Company has guaranteed the payment, in an aggregate principal amount of at least $500,000,000, if such indebtedness has not been discharged in full or such acceleration has not been rescinded or annulled within 30 days; provided, however, that, if the default under the instrument is cured by the Company, or waived by the holders of the indebtedness, in each case as permitted by the
      governing instrument, then the Event of Default under the Indenture caused by such default will be deemed likewise to be cured or waived;

     

    
      12

      
        

    

    (5)          the entry by a court having competent jurisdiction of:

     

    (A)          an order for relief in respect of the Company as debtor in an involuntary proceeding under any applicable Bankruptcy Law and such order shall remain unstayed and in effect for a period of
      60 consecutive days; or

     

    (B)          a final and non-appealable order appointing a Custodian of the Company, or ordering the winding up or liquidation of the affairs of the Company, and such order shall remain unstayed and in
      effect for a period of 60 consecutive days; or

     

    (6)          the commencement by the Company of a voluntary proceeding under any applicable Bankruptcy Law or the consent by the Company as debtor to the entry of a decree or order for relief in an involuntary proceeding
      under any applicable Bankruptcy Law, or the filing by the Company as debtor of a consent to an order for relief in any involuntary proceeding under any Bankruptcy Law, or to the appointment of a Custodian or the making by the Company of an assignment
      for the benefit of creditors.

     

    ARTICLE II

     

    MISCELLANEOUS

     

    Section 2.1           Business Day.

     

    If any maturity date or earlier date of redemption for any series of Notes falls on a day that is not a Business Day, the required payment shall be made on the next Business Day as if it were made on the date the payment
      to Holders was due and no interest shall accrue on the amount so payable for the period from and after that maturity date or that date of redemption, as the case may be.

     

    Section 2.2           [Reserved].

     

    Section 2.3           Confirmation of Indenture.

     

    The Base Indenture, as supplemented and amended by this Supplemental Indenture, is in all respects ratified and confirmed, and the Base Indenture, this Supplemental Indenture and all indentures supplemental thereto shall
      be read, taken and construed as one and the same instrument.

     

    Section 2.4           Concerning the Trustee.

     

    In carrying out its responsibilities hereunder, the Trustee shall have all of the rights, protections and immunities which it possesses under the Indenture. The recitals contained herein and in the Notes, except the
      Trustee’s certificate of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Supplemental
      Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of the Notes or the proceeds thereof.

     

    
      13

      
        

    

    Section 2.5           Governing Law.

     

    This Supplemental Indenture and the Notes shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be governed by and construed in accordance with the laws of
      said State.

     

    Section 2.6           Separability.

     

    In case any provision in this Supplemental Indenture shall for any reason be held to 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 2.7           Counterparts.

     

    This Supplemental Indenture may be executed in any number of counterparts each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The exchange of copies of
      this Supplemental Indenture and of signature pages by facsimile or electronic format (e.g., “.pdf” or “.tif”) transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in
      lieu of the original Supplemental Indenture for all purposes.

     

    The words “execution,” “signed,” “signature,” and words of like import in this Supplemental Indenture, the Indenture or any agreement entered into in connection herewith shall be deemed to include electronic signatures
      or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as
      provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic
      Transactions Act (e.g. DocuSign). Without limitation to the foregoing, and anything in the Indenture to the contrary notwithstanding, (a) any Officer’s Certificate, Authentication Order, Opinion of Counsel, Security, certificate of authentication
      appearing on or attached to any Security, or other certificate, opinion of counsel, instrument, agreement or other document delivered pursuant to the Indenture may be executed, attested and transmitted by any of the foregoing electronic means and
      formats and (b) all references in Section 2.04 or elsewhere in the Base Indenture to the execution, attestation or authentication of any Security or any certificate of authentication appearing on or attached to any Security by means of a manual or
      facsimile signature shall be deemed to include signatures that are made or transmitted by any of the foregoing electronic means or formats.

     

    Section 2.8           No Benefit.

     

    Nothing in this Supplemental Indenture, express or implied, shall give to any Person other than the parties hereto and their successors or assigns, and the Holders, any benefit or legal or equitable rights, remedy or
      claim under this Supplemental Indenture or the Base Indenture.

     

    
      14

      
        

    

    Section 2.9           Electronic Means.

     

    The Trustee shall have the right to accept and act upon instructions, including funds transfer instructions (“Instructions”) given pursuant to the Indenture and delivered using
      Electronic Means; provided, however, that the Company shall provide to the Trustee an incumbency certificate listing officers with the authority to provide such Instructions (“Authorized Officers”) and
      containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended by the Company whenever a person is to be added or deleted from the listing. If the Company elects to give the Trustee Instructions using
      Electronic Means and the Trustee in its discretion elects to act upon such Instructions, the Trustee’s understanding of such Instructions shall be deemed controlling. The Company understands and agrees that the Trustee cannot determine the identity
      of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to have been sent by an Authorized Officer listed on the incumbency certificate provided to the Trustee have been sent by such
      Authorized Officer. The Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and that the Company and all Authorized Officers are solely responsible to safeguard the use and confidentiality
      of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Company. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and
      compliance with such Instructions notwithstanding such directions conflict or are inconsistent with a subsequent written instruction. The Company agrees: (i) to assume all risks arising out of the use of Electronic Means to submit Instructions to the
      Trustee, including without limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third parties; (ii) that it is fully informed of the protections and risks associated with the various
      methods of transmitting Instructions to the Trustee and that there may be more secure methods of transmitting Instructions than the method(s) selected by the Issuer; (iii) that the security procedures (if any) to be followed in connection with its
      transmission of Instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances; and (iv) to notify the Trustee immediately upon learning of any compromise or unauthorized use of the
      security procedures.

     

    Section 2.10         OFAC Certification and Covenants.

     

    (a)          The Company covenants and represents that neither it nor any of its subsidiaries, directors or officers are the target or subject of any sanctions enforced by the US Government, (including, the Office of
      Foreign Assets Control of the US Department of the Treasury (“OFAC”)), the United Nations Security Council, the European Union, or Her Majesty’s Treasury (collectively “Sanctions”).

     

    (b)          The Company covenants and represents that neither it nor any of its subsidiaries, directors or officers will use any part of the proceeds received in connection with the Indenture and the Notes to be issued
      thereunder or any other of the transaction documents to fund or facilitate any activities of or business with any person who, at the time of such funding or facilitation, to the Company’s knowledge after due inquiry, is the subject or target of
      Sanctions.

     

    [SIGNATURE PAGES FOLLOW]

    

    

  

  15

   
  
    
      

  

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

   

    

  	 	
          THERMO FISHER SCIENTIFIC INC.

        
	 	 
	 	
          By: 

          

        	
          /s/ Anthony H. Smith

        
	 	 	
          Name: Anthony H. Smith

        
	 	 	
          Title:   Vice President, Tax and Treasury and Treasurer          

        

  

  

  [Twenty-Fourth Supplemental Indenture]

  

  

  
    
      

  

  

  

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

        	
          /s/ Ann M. Dolezal

        
	 	 	
          Name:Ann M. Dolezal

        
	 	 	
          Title: Vice President

        

  

  

  [Twenty-Fourth Supplemental Indenture]

   

  

  
    
      

  

  
  EXHIBIT A

   

    

  [Insert the Global Security legend, if applicable]

   

    

  [  ]%1 SENIOR NOTES DUE [  ]2

   

    

  	
          No. [  ]

        	 	
          ¥ [  ]

        
	
          ISIN No. [  ]3

        	 

   

    

  THERMO FISHER SCIENTIFIC INC.

   

    

  promises to pay to [  ] or registered assigns, the principal sum of [  ] yen on [  ]4.

   

    

  Interest Payment Dates: [  ] and [  ]

   

    

  Record Dates: [  ] and [  ]

   

    

  Each holder of this Security (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the Indenture described herein, and
    authorizes and directs the Trustee described herein on such holder’s behalf to be bound by such provisions. Each holder of this Security hereby waives all notice of the acceptance of the provisions contained herein and in the Indenture and waives
    reliance by such holder upon said provisions.

   

  

  This Security shall not be entitled to any benefit under the Indenture, or be valid or become obligatory for any purpose, until the Certificate of Authentication hereon shall
    have been signed by or on behalf of the Trustee. The provisions of this Security are continued on the reverse side hereof, and such continued provisions shall for all purposes have the same effect as though fully set forth at this place.

  

  

  
    

  

  
    	
            1

          	
            2025 Notes: 0.853%; 2027 Notes: 1.054%; 2029 Notes: 1.279%; 2032 Notes: 1.490%; 2042 Notes: 2.069%; and 2052 Notes: 2.382%

          

  

  
    	
            2

          	
            2025 Notes: 2025; 2027 Notes: 2027; 2029 Notes: 2029; 2032 Notes: 2032; 2042 Notes: 2042; and 2052 Notes: 2052

          

  

  
    	
            3

          	
            2025 Notes: XS2548076053; 2027 Notes: XS2548076301; 2029 Notes: XS2548077457; 2032 Notes: XS2548077531; 2042 Notes: XS2548078182; and 2052 Notes: XS2548078265

          

  

  
    	
            4

          	
            2025 Notes: October 20, 2025; 2027 Notes: October 20, 2027; 2029 Notes: October 19, 2029; 2032 Notes: October 20, 2032; 2042 Notes: October 20, 2042; and 2052 Notes:
              October 18, 2052

          

  

  

  

  
    A-1

    
      

  

  IN WITNESS WHEREOF, the Company has caused this instrument to be signed in accordance with Section 2.04 of the Base Indenture.

   

    

  
    	
            Date: [          ]

          	 
	 	 
	 	
            THERMO FISHER SCIENTIFIC INC.

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

  

  

  

  
    A-2

    
      

  

  CERTIFICATE OF AUTHENTICATION

   

    

  This is one of the [          ]5 issued by
      Thermo Fisher Scientific Inc. of the series designated therein, referred to in the within-mentioned Indenture.

   

    

  	
          Date: [          ]

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

        	 	 
	 	
          Authorized Signatory

        

  

  

  
    

    

    
      

  

  

  
    	
            5

          	
            2025 Notes: 0.853% Senior Notes due 2025; 2027 Notes: 1.054% Senior Notes due 2027; 2029 Notes: 1.279% Senior Notes due 2029; 2032 Notes: 1.490% Senior Notes due 2032;
              2042 Notes: 2.069% Senior Notes due 2042; and 2052 Notes: 2.382% Senior Notes due 2052

          

  

  

  

  
    A-3

    
      

  

  Thermo Fisher Scientific Inc.

   

  

  [  ]6

   

    

  This security is one of a duly authorized series of debt securities of Thermo Fisher Scientific Inc., a Delaware corporation (the “Company”), issued or to
    be issued in one or more series under and pursuant to an Indenture for the Company’s unsubordinated debt securities, dated as of November 20, 2009 (the “Base Indenture”), duly executed and delivered by and among
    the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), as supplemented by the Twenty-Fourth Supplemental Indenture, dated as of October 20, 2022 (the “Supplemental Indenture”), between the Company and the Trustee. The Notes are subject to a Paying Agency Agreement, dated as of October 20, 2022 (the “Paying Agency Agreement”),

    between the Company and The Bank of New York Mellon, London Branch, as paying agent (the “Paying Agent”). The Base Indenture as supplemented and amended by the Supplemental Indenture is referred to herein as the
    “Indenture.” By the terms of the Base Indenture, the debt securities issuable thereunder are issuable in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in
    the Base Indenture. This security is one of the series designated on the face hereof (individually, a “Security,” and collectively, the “Securities”), and reference is
    hereby made to the Indenture for a description of the rights, limitations of rights, obligations, duties and immunities of the Trustee, the Company and the holders of the Securities (the “Securityholders”).
    Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Base Indenture or the Supplemental Indenture, as applicable.

   

  

  1.           Interest. The Company promises to pay interest on the principal amount of this
      Security at an annual rate of [ ]%7. The Company will pay interest semi-annually in arrears on April 20 and October 20 of each year (each such day, an “Interest Payment Date”) until the principal is paid or made available for payment.8 If any Interest Payment Date, redemption date or
      maturity date of this Security is not a Business Day, then payment of interest or principal (and premium, if any) shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no
      interest shall accrue for the period after such date to the date of such payment on the next succeeding Business Day. Interest on the Securities will accrue from the most recent date to which interest has been paid or duly made available for payment
      or, if no interest has been paid, from the date of issuance; provided that, if there is no existing Default in the payment of interest, and if this Security is authenticated between a regular record date
      referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; and provided, further, that the first Interest Payment Date
      shall be April 20, 2023. Interest on the Securities shall be computed on the basis of a 360-day year of twelve 30-day months. In order to provide for all payments due on the Securities as the same shall become due, the Company shall cause to be paid
      to the Paying Agent, no later than 10:00 a.m. London time on the Business Day prior the payment date of each Security, at such bank as the Paying Agent shall previously have notified to the Company, in immediately available funds sufficient to meet
      all payments due on such Securities.

  

  
    
      

      

      
        

    

  

  

  
    
      
        	
                6

              	
                2025 Notes: 0.853% Senior Notes due 2025; 2027 Notes: 1.054% Senior Notes due 2027; 2029 Notes: 1.279% Senior Notes due 2029; 2032 Notes: 1.490% Senior Notes due
                  2032; 2042 Notes: 2.069% Senior Notes due 2042; and 2052 Notes: 2.382% Senior Notes due 2052

              

      

    

  

  
    	
            7

          	
            2025 Notes: 0.853%; 2027 Notes: 1.054%; 2029 Notes: 1.279%; 2032 Notes: 1.490%; 2042 Notes: 2.069%; and 2052 Notes: 2.382%

          

  

  
    	
            8

          	
            2029 Notes: except that the final Interest Payment Date in 2029 shall be the Stated Maturity; and 2052 Notes: except that the final Interest Payment Date in 2052 shall
              be the Stated Maturity.

          

  

  

  

  
    A-4

    
      

  

  2.           Method of Payment. The Company will pay interest on the Securities (except
      defaulted interest), if any, to the persons in whose name such Securities are registered at the close of business on the regular record date referred to on the facing page of this Security for such interest installment. In the event that the
      Securities or a portion thereof are called for redemption pursuant to Section 1.4(2) of the Supplemental Indenture or there is a Change of Control Offer, and the redemption date or Change of Control Payment Date, as applicable, is subsequent to a
      regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Securities shall instead be paid upon presentation and surrender of such Securities as provided in the Indenture. Subject to
      Section 1.2 of the Supplemental Indenture, all payments of principal of, and interest (including Additional Amounts, if any) and premium (if any) on, the Securities shall be payable in yen.

   

    

  3.           Paying Agent and Registrar. Initially, The Bank of New York Mellon, London
      Branch, shall act as the Paying Agent in accordance with the terms of the Paying Agency Agreement and the Trustee shall act as Security Registrar. Upon prior notice to the Trustee, the Company may change or appoint any Paying Agent or Security
      Registrar without notice to any Securityholder. The Company or any of its Subsidiaries may act in any such capacity.

      

    

  4.           Indenture. The terms of the Securities include those stated in the Indenture
      and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (“TIA”), as in effect on the date the Indenture is qualified. The Securities are subject to all such terms, and
      Securityholders are referred to the Indenture and TIA for a statement of such terms. In the event of a conflict between the terms of the Securities and the terms of the Indenture, the terms of the Indenture shall prevail. The Securities are unsecured
      general obligations of the Company and constitute the series designated on the face hereof as the “[ ]9,” initially limited to ¥[•] in aggregate principal amount. The
      Company shall furnish to any Securityholder upon written request and without charge a copy of the Base Indenture and the Supplemental Indenture. Requests may be made to: Thermo Fisher Scientific Inc., 168 Third Avenue, Waltham, Massachusetts 02451,
      Attention: Michael A. Boxer.

   

    

  5.            Redemption. Except as set forth in Section 1.3 of the Supplemental Indenture,
      the Company may not redeem the Securities of this series prior to the Maturity Date. The Company shall not be required to make sinking fund payments with respect to the Securities.

      

    

  6.            Redemption Upon Changes in Withholding Taxes; Payment of Additional Amounts.

  

  

  
    
      
        
          

      

    

    

  

  
    	
            9

          	
            2025 Notes: 0.853% Senior Notes due 2025; 2027 Notes: 1.054% Senior Notes due 2027; 2029 Notes: 1.279% Senior Notes due 2029; 2032 Notes: 1.490% Senior Notes due 2032;
              2042 Notes: 2.069% Senior Notes due 2042; and 2052 Notes: 2.382% Senior Notes due 2052

          

  

  

  

  
    A-5

    
      

  

   The provisions of Sections 1.3 and 1.4(2) of the Supplemental Indenture shall apply to the Securities.

   

  

  Whenever the payment of the principal of or interest or any other amounts on, or in respect of, the Securities is mentioned, in any context, such mention shall be deemed to
    include mention of the payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the terms of the Indenture, and express mention of the payment of Additional
    Amounts in any provision of the Securities shall not be construed as excluding the payment of Additional Amounts in those provisions where such express mention is not made.

   

    

  7.           Change of Control Triggering Event. Upon the occurrence of a Change of Control
      Triggering Event, unless the Company has redeemed this Security or the Company has defeased this Security or satisfied and discharged this Security, the holder of this Security shall have the right to require that the Company repurchase all or a
      portion (such principal amount to be equal to ¥100,000,000 or any integral multiple of ¥10,000,000 in excess thereof) of this Security at a repurchase price equal to 101% of the aggregate principal amount repurchased plus accrued and unpaid interest,
      if any, on the amount to be repurchased up to but excluding the date of repurchase. Within 30 days following any Change of Control Triggering Event, the Company shall send, by first class mail, a notice to each Holder, in accordance with Section
      1.4(1)(a) of the Supplemental Indenture, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer.

   

    

  8.           Denominations, Transfer, Exchange. The Securities are in registered form
      without coupons in the denominations of ¥100,000,000 or any integral multiple of ¥10,000,000 in excess thereof. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. The Securities may be presented
      for exchange or for registration of transfer (duly endorsed or with the form of transfer endorsed thereon duly executed if so required by the Company or the Security Registrar) at the office of the Paying Agent or at the office of any transfer agent
      designated by the Company for such purpose. No service charge shall be made for any registration of transfer or exchange, but a Securityholder may be required to pay any applicable taxes or other governmental charges. If the Securities are to be
      redeemed, the Company shall not be required to: (i) issue, register the transfer of, or exchange any Security during a period beginning at the opening of business 15 days before the day of mailing of a notice of redemption of less than all of the
      outstanding Securities and ending at the close of business on the day of such mailing; (ii) register the transfer of or exchange any Security or portions thereof selected for redemption, in whole or in part, except the unredeemed portions of any such
      Security being redeemed in part; nor (iii) register the transfer of or exchange of a Security between the applicable record date and the next succeeding Interest Payment Date.

   

    

  9.            Persons Deemed Owners. The registered Securityholder may be treated as its
      owner for all purposes.

   

    

  10.         Repayment to the Company. Any funds or Governmental Obligations deposited with
      any paying agent or the Trustee, or then held by the Company, in trust for payment of principal of, premium, if any, or interest on the Securities that are not applied but remain unclaimed by the holders of such Securities for at least one year after
      the date upon which the principal of, premium, if any, or interest on such Securities shall have respectively become due and payable, shall be repaid to the Company, as applicable, or (if then held by the Company) shall be discharged from such trust.
      After return to the Company, Holders entitled to the money or securities must look to the Company, as applicable, for payment as unsecured general creditors.

   

    

  
    A-6

    
      

  

  11.          Amendments, Supplements and Waivers. The Indenture permits, with certain
      exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities to be affected under the Indenture at any time by the Company and the Trustee with
      the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding to be affected. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities at the time
      Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of
      this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
      consent or waiver is made upon this Security.

   

    

  12.          Defaults and Remedies. If an Event of Default with respect to the Securities
      occurs and is continuing, the Trustee or the holders of at least 25% in aggregate principal amount of the Securities then Outstanding, by notice in writing to the Company (and to the Trustee if notice is given by such holders), may declare the entire
      principal amount of, premium, if any, and accrued interest, if any, of such Securities due and immediately payable. Subject to the terms of the Indenture, if an Event of Default under the Indenture shall occur and be continuing, the Trustee shall be
      under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any of the holders, unless such holders have offered the Trustee indemnity satisfactory to it. Upon satisfaction of certain conditions set
      forth in the Indenture, the holders of a majority in principal amount of the Outstanding Securities 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.

   

    

  13.          Trustee, Paying Agent and Security Registrar May Hold Securities. The Trustee,
      subject to certain limitations imposed by the TIA, or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying
      agent or Security Registrar.

   

    

  14.          No Recourse Against Others. No recourse under or upon any obligation, covenant
      or agreement of the Indenture, or of any Security, or for any claim based thereon or otherwise in respect hereof or thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or
      of any predecessor or successor corporation, either directly or through the Company or any such predecessor or 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 the Indenture and the obligations issued hereunder and thereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the
      incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the
      obligations, covenants or agreements contained in the Indenture or in the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and
      any and all such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or agreements
      contained in the Indenture or in the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the acceptance of the Securities.

   

    

  
    A-7

    
      

  

  15.          Discharge of Indenture. The Indenture contains certain provisions pertaining to
      discharge and defeasance, which provisions shall for all purposes have the same effect as if set forth herein.

   

    

  16.          Authentication. This Security shall not be valid until the Trustee signs the
      certificate of authentication attached to the other side of this Security.

   

    

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

   

    

  18.          Governing Law. The Base Indenture, the Supplemental Indenture and this Security
      shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State.

   

    

  
    A-8

    
      

  

  ASSIGNMENT FORM

   

    

  To assign this Security, fill in the form below: (I) or (we) assign and transfer this Security to

   

  

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

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

        

  

  

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

  

  	 Date: 

        	 	  

  

  

  	 	
          Your Signature

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

        

  

  

  	
          Signature Guarantee:

        	 	  

  

  

  
    A-9

    
      

  

  OPTION OF HOLDER TO ELECT PURCHASE

   

    

  If you want to elect to have this Security purchased by the Company pursuant to Section 1.4(l) of the Supplemental Indenture, check the box:

   

    

  
    	
            ☐

          	
            1.4(l) Change of Control Triggering Event

          

  

   

    

  If you want to elect to have only part of this Security purchased by the Company pursuant to Section 1.4(l) of the Supplemental Indenture, state the amount: ¥                
                               

    

  

    	 Date: 

          	 	  

    

    

    	 	
            Your Signature

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

              

            

          

    

    

    
      
        	
                

                

              	Tax I.D. Number: 	  	 

        

        

      

    

    	
            Signature Guarantee:

          	 	  
	 	
            (Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

          	 

  

   

    

  

  

  A-10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00349-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00349-of-00352.parquet"}]]