Document:

EX-10.1

 Exhibit 10.1 
  

 
 Lease Contract for Office Building of Corporate Avenue 

(Contract No.:
126-L-KW-2021099) 
 Date: This
Contract is entered into on November 4, 2021. 
 Parties to this Contract: 

Lessor: Shanghai Xingqiao Real Estate Co., Ltd. (hereinafter referred to as the “Lessor”) 

Lessee: Shanghai LianBio Development Co., Ltd. (hereinafter referred to as the “Lessee”) 

The registered addresses of the Lessor and the Lessee are set forth in Appendix 1. 

In accordance with the relevant national laws and regulations and on the basis of equity, willingness, fairness and good faith, the Lessor and the Lessee have
entered into this Contract by mutual agreement regarding the leasing by the Lessor of its legally owned premises to the Lessee and the use by the Lessee of the Lessor’s premises. The Parties hereby agree as follow: 

Chapter I Premises and Other Use Rights 

Premises and Reserved Rights 
  

	1.1	 The Lessor agrees to lease to the Lessee the units (hereinafter referred to as the “Premises”)
located in the building described in Appendix 2 (hereinafter referred to as the “Building”) for the period specified in Appendix 4 (hereinafter referred to as the “Lease Term”) and the Lessee agrees to lease the Premises. The
Lessee may also, when necessary, use the entrance, stairway and toilet of the Building during service hours, together with the Lessor and other persons with the same rights. The Lessee may also use any elevator, escalator and central air-conditioning provided on the Premises together with the aforesaid users, provided that the Lessor or the management company of the Building (hereinafter referred to as the “Management Company”) has the
right to restrict the scope of such use. The Lessor and all persons authorized by the Lessor or persons who are otherwise entitled to the relevant rights hereby reserve the following rights: 

 

	 	(i)	 To enter the Premises at any time to inspect, repair or maintain any ditches, water apparatuses, water pipes,
pipelines, wires, cables, transmission pipelines, subject to a prior written notice to the Lessee. 

  

	 	(ii)	 After giving a prior notice to the Lessee, to enter the Premises at any reasonable time, whether accompanied by
craftsmen or with tools, to inspect the repair condition or use of the Premises or the progress of any works in the Premises, and to count the installations and accessories in the Premises, and to carry out any necessary repair, maintenance,
alteration or other works. In the event of an emergency, to forcibly enter the Premises without giving any notice, provided that the Lessor shall take reasonable measures to reduce the loss or damage caused by such forced entry.

  

	 	(iii)	 To have exclusive rights to install and add heating pipes, pipes, water pipes, smoke windows, antennas and
other radio visual cables and receivers, machines and other apparatuses, signs, signboards, posters and other advertising items (whether or not equipped with lighting decorations) in 

 

  
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 any part of the Building. The Lessor
shall have the right to repair, maintain, restore, move or change such installations or additions at the time as it deems fit. 
  

	 	(iv)	 To have exclusive and unrestricted rights and freedom to renew, refurbish, increase, reduce, alter or dispose
of any part of the Building (other than the Premises); and to have the right to vary, rearrange or temporarily close any common area of the Building as well as the equipment and facilities provided for the Building. However, in exercising such
rights, the Lessor shall minimize disruption to and inconvenience caused to the Lessee, provided that no indemnity or compensation shall be paid by the Lessor to the Lessee for any impact or damage suffered by the Lessee as a result thereof.

  

	 	(v)	 To have the right to enter the Building in order to exercise the rights reserved in Chapter I.

  

	 	(vi)	 To have exclusive and unrestricted rights to name and rename the Building at any time and to have the right to
change, alter, replace or abandon such name at any time. The Lessor must notify the Lessee of such intention in advance. 

  

	 	(vii)	 To have the right to hold or permit to be held, organize any ceremony, exhibition or display of goods in any
common area of the Building at such time, under such conditions and for such period as the Lessor deems fit. 

  

	 	(viii)	 To have the right to display the exterior wall of the Building. 

Floor Plan, Decoration 
  

	1.2	 The floor plan of the Premises is set forth in Appendix 3 (only for ease of identification). The specific
leased portion is marked by black slashes for ease of identification. 

  

	1.3	 The status of the decoration and facilities provided by the Lessor for the Premises is set forth in Appendix 6
to this Contract. The Parties shall sign a confirmation document upon delivery of the Premises. The Parties agree that Appendix 6 and the foregoing confirmation document shall be the basis for the acceptance of the Premises when the Lessee returns
the Premises to the Lessor upon termination of this Contract (including early termination). 

 Chapter II Rent and
Other Expenses 
  

	2.1	 During the Lease Term, the Lessee must pay to the Lessor the rent (hereinafter referred to as “Rent”)
and the management fee (hereinafter referred to as “Management Fee”) as set forth in Appendix 5. The Lessee shall pay in advance the Rent and Management Fee for each calendar month during the Lease Term in accordance with the provisions of
Appendix 5. The initial and last month’s Rent and Management Fee are calculated and paid on the basis of the number of days of the Lease Term included in that month. The Lessee shall, when this Contract is executed, prepay one month’s Rent
and one month’s Management Fee and the corresponding VTA. The Lessee shall not, for any reason, deduct from the Rent, Management Fee, security deposit and other fees which it must prepay to the Lessor. 

  
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	2.2	 The Lessor shall have the right to adjust the Management Fee on an annual basis during the term of this
Contract and to calculate the corresponding VAT on the basis of the adjusted Management Fee, provided that the Lessor shall give one month’s prior written notice to the Lessee. Such fees will be adjusted from the specified commencement date at
the amount shown in the Lessor’s notice. The Lessee shall pay the Management Fee at the adjusted amount. The adjusted fee shall be calculated according to the floor area of the Premises and within the fee adjustment range applicable to other
users of the office premises in the Building. 

  

	2.3	 The Lessee must pay and settle the fees for public utilities such as fees for water, electricity, gas,
telecommunication and telephone and fees for temporary water and electricity as shown on the separate meters of the Lessee as well as the fees for the use of the facilities in the Premises. The Lessee shall, on a regular basis, pay to the public
utility unit of the government or the Lessor (or the Management Company), the public utility fees for the Premises according to the amount payable shown in the payment notice issued by the public utility unit of the government or the Lessor (or the
Management Company) at the price specified in the Tenant Renovation Manual/Tenant Manual. The Lessor (or the Management Company) shall have the right to adjust and recalculate such fees in accordance with the national tax rate or fee rate, and the
Lessee shall pay the adjusted utility fee and the corresponding VAT as notified by the Lessor or the Management Company. Any penalty incurred by the Lessee for its delay in paying public utility fees, such as fees for water, electricity, gas,
telecommunication and telephone, shall be borne by the Lessee alone. If the Lessor has paid deposit to the relevant facilities authority, the Lessee shall, as required by the Lessor, promptly reimburse the Lessor for the deposit already paid by the
Lessor in relation to the supply of water, electricity, gas, telecommunications and telephone. 

  

	2.4	 The Lessee shall pay to the Lessor or Management Company the cost of replacing any damaged light bulbs or tubes
in the Premises that are replaced by the Lessor or Management Company. 

  

	2.5	 The floor area of the Premises is set forth in Appendix 5. The “floor area” referred to in this
Contract means the “actual measured floor area”. The Lessor and the Lessee hereby irrevocably and expressly state that, for the avoidance of future disputes, if the floor area of the Premises is inconsistent with the leased area measured
by any person, organization or authority or the area measured by using other algorithms, the Parties agree not to make any adjustment to the Rent for the Premises or any other fee calculated based on the floor area of the Premises.

  

	2.6	 The Lessor shall pay to the relevant governmental authorities all taxes and fees payable by the Lessor in
respect of the lease of the Premises in accordance with laws and regulations. 

  

	2.7	 The Lessee must pay and settle all taxes and any fees which are or will be imposed on the users of the Premises
or any part thereof by the PRC governmental authorities or other functional departments well as all taxes and any fees incurred in connection with the business operations on the Premises. The Lessee shall, upon the request of the Lessor, reimburse
the Lessor for any payable or imposed fees which have been advanced by the Lessor. 

  
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	2.8	 During the Lease Term, without prejudice to the other rights or remedies of the Lessor, the Lessee must pay to
the Lessor an amount calculated as follows: 

  

	 	(i)	 If the amount of the Rent, Management Fee, other fees and any payables (whether claimed or not) owed by the
Lessee to the Lessor is seven days overdue, liquidated damages in an amount equal to 0.1% of the overdue payment per day from the due and payable date of such overdue payment to the date on which all such amount is received by the Lessor.

  

	 	(ii)	 If the debt of the Lessee under this Contract has been paid by the Lessor on behalf of the Lessee, liquidated
damages in an amount equal to 0.1% of the overdue payment per day from the due and payable date of such overdue payment to the date when such amount is received by Lessor. 

 

	2.9	 The Rent and Management Fee of the Premises, car parking space fee (if any) and other fees agreed in this
Contract are exclusive of the VAT, and the Lessee shall separately pay the VAT. During the Lease Term, if the VAT rate or tax rate of the place where the Premises are located is adjusted, which would increase the taxes imposed on the Lessor, the
Lessee agrees to bear all the VAT of the Lessor increased as a result thereof. The Lessee shall pay such increased VAT within the period specified in this Contract, otherwise the Lessor shall have the right to hold the Lessee liable for breach of
contract as if the Lessee had failed to pay the Rent as agreed. 

 Chapter III Responsibilities of the Lessee

 The Lessee hereby undertakes to the Lessor as follows: 

Licenses and Permits 
  

	3.1	 The Lessee undertakes to apply for and obtain from the relevant governmental authorities, at its own expense,
any license, approval or permit necessary for its business prior to the commencement and operation of its business in the Premises. The Lessee must ensure that such license, approval or permit is in full force and effect during the Lease Term and
that the Lessee shall comply in all respects with the requirements of such license, approval or permit. 

 In-room Maintenance and Cleaning 
  

	3.2.1	 The Lessee must maintain all interior fittings, facilities, equipment and all additions inside the Premises
(whether or not belonging to the Lessor or the Lessee) in good and clean condition during the Lease Term, including but without limitation to, the floors, plaster, decorations, walls, ceilings, doors, windows, window frames, electrical installations
and wires, lighting facilities, fire alarms and fire-fighting items, all cable ducts, water pipes, and the toilets, sanitary fittings, water supply and drainage equipment (if any) installed in the Premises (or other areas reserved for the Lessee).
The Lessee shall, from time to time during the Lease Term and at its own expense, carry out any appropriate repair, maintenance, painting and refurbishment of all decorations, facilities, equipment and all additions inside the Premises (whether or
not belonging to the Lessor or the Lessee). 

  
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	3.2.2	 The Lessee must keep the Premises and any part of it in a clean and hygienic condition at all times, and the
Lessee shall, at its own expense, appoint a qualified company which has been confirmed in writing by the Lessor as the cleaning contractor for the Premises; the Lessee shall, according to requirements of the rules and regulations duly formulated and
amended by the Lessor or the Management Company, be responsible for disposing of all waste and garbage and for dumping such waste and garbage at the place specified by the Lessor or the Management Company from time to time; the Lessee shall not
bring, keep or allow others to bring or keep any item into the Premises which is considered by the Lessor to be unclean, inelegant or harmful to the Premises. 

Use and Maintenance of Electrical Equipment 
  

	3.3.1	 If any of the electrical equipment, electrical wires or pipelines of the Premises constitute a hazard or an
unsafe condition, or upon the request of the Lessor or the relevant public utility unit, the Lessee shall, at its own expense, engage a qualified company which has been confirmed in writing by the Lessor to install, repair, alter the works; the
Lessee shall also permit the Lessor or its agent to enter the Premises at any reasonable time after giving a prior notice to test the wires or pipelines. The Lessee shall fully compensate for all expenses, losses, claims, demands, actions arising
from the breakdown or out-of-repair condition (provided that such breakdown or
out-of-repair condition is attributable to the Lessee) of any electrical equipment, electrical appliances, wires, pipelines, water devices and apparatuses (if any)
inside the Premises. 

  

	3.3.2	 Without the prior written consent of the Lessor or the Management Company, the Lessee shall not install, alter
or add electricity wires, electrical equipment and pipelines. 

  

	3.3.3	 The Lessee shall comply with all rules and regulations relating to the supply of electricity promulgated by the
local power authority and by the Lessor or the Management Company, and shall not overload the cables, wires or other apparatuses in the Premises. 

  

	3.3.4	 The installation of any telephone lines, communication lines or data lines outside the Premises must be carried
out in accordance with the instructions of the Lessor and the Management Company and the requirements of the relevant government departments of Shanghai Municipality. 

Notice on Repair and Damage 
  

	3.4.1	 Upon receipt of a reasonable notice on repair or works delivered by the Lessor or its authorized
representative, the Lessee must proceed and complete such repair or works as required by the notice as soon as reasonably practicable. If such maintenance works will affect the structure, common area, public facilities of the Building and adjacent
tenants in the Building, the proposal of such maintenance works shall be approved in advance by the Lessor or the Management Company. If, within two weeks of receiving such notice, the Lessee fails to make diligent efforts to carry out such repair
or works, the Lessor shall have the right to forcibly enter the Premises for such repair or works after giving a notice to the Lessee. The Lessee shall be liable to the Lessor for all costs incurred as a result thereof and the Lessee shall promptly
compensate the Lessor of such costs at the request of the Lessor. 

  
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	3.4.2	 In the event of any damage or harm to the Premises or to any person in the Premises, or upon occurrence of any
fire or accident in the Premises or of any failure, damage, burst or defect to or in any water pipelines, electrical wires, installations, attachments or other facilities, the Lessee shall immediately notify the Lessor and the Management Company, in
both oral and written forms. At the same time, the Lessee shall take necessary measures in a timely manner to mitigate the losses and carry out the repair works within a reasonable time. 

Indemnification 
  

	3.5.1	 The Lessee shall fully indemnify the Lessor against any damages to the Building, the Premises and the
facilities and equipment in the Building and the Premises (including any installations, equipment, wires and pipelines in the Premises to be maintained and repaired by the Lessee), or against any property loss or personal injury to other tenants in
the Building, third parties or any person in the Premises, which arise from fire, smoke leakage and water spill due to Lessee’s fault, negligence or omission or natural wear and tear of the facilities in the Premises. At the same time, the
Lessee shall indemnify the Lessor against all costs and expenses (including reasonable attorney’ fees) incurred by the Lessor as a result of the claims made by any other relevant person, third parties against the Lessor and as a result of legal
proceedings. The Lessor shall notify the Lessee within a reasonable time upon receipt of such claim or demand. 

  

	3.5.2	 The Lessee must pay or reimburse the Lessor for all costs incurred by the Lessor in replacing any windows or
glass in the Premises that have been broken or damaged due to the Lessee’s act or omission. 

  

	3.5.3	 The Lessee shall pay and reimburse the Lessor for the fees to repair the defects or damage to any part of the
Premises caused by the Lessee and for all costs and expenses incurred by the Lessor in connection with any claim or demand referred to this chapter. 

Close of Windows and Exterior Doors 
  

	3.6	 The Lessee shall keep all windows and exterior doors of the Premises closed. If the Lessee fails to comply with
the requirements of the notice within a reasonable time after receiving such notice from the Lessor or the Management Company requiring the Lessee to close all exterior windows and doors, the Lessor or the Management Company shall have the right to
send its representatives to enter the Premises and close all open doors and windows. 

 Protection against Storms 

 

	3.7	 The Lessee must take all precautions to prevent the interior of the Premises against any damage caused by
storm, typhoon, rainstorm or other adverse weather. In particular, the Lessee shall ensure that all exterior doors and windows of the Premises are securely fastened in the event of adverse weather. 

Signs and Nameplates 
  

	3.8.1	 Without the written consent of the Lessor, the Lessee shall not exhibit, display or hang within or outside the
Premises, any written sign, signboard or any other design (whether or not with lighting decorations) which is visible from outside the Building, nor shall hang any written sign, signboard or any other design in any common area, lobby,

  
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	 	staircase platform, aisle or passage of the Building. The Lessee may place at the entrance to the Premises a sign or nameplate of the Lessee’s company name. The sign or nameplate shall be printed at the
Lessee’s own expense and shall adopt the design and process standards agreed by the Lessor. The Lessor, Management Company or other authorized agents shall have the right to remove any signboard, sign, nameplate or related decoration patterns
which the Lessee has stuck, hung, placed or displayed without authorization, and the Lessee shall pay the costs incurred as a result thereof. 

  

	3.8.2	 In addition to Clause 3.8.1 hereof, the Lessee may only display its company name on the tenants’ nameplate
of the Building without paying any additional cost to the Lessor. If the Lessee needs to attach, repair, alter or replace its name on tenants’ nameplate of the Building, the Lessee shall, within fourteen days of receipt of the notice, pay to
the Lessor or the Management Company any reasonable services fee (if any) incurred by the Lessor or the Management Company for the addition, repair, alteration or replacement of the Lessee’s name on the tenants’ nameplate of the Building.

 Return of the Premises 
  

	3.9.1	 On the expiration date of the Lease Term or on the early termination date, the Lessee must restore the Premises
together with all of its attachments, installations and additions (whether the Lessee’s decoration, alteration or installation of/in the Premises has been approved by the Lessor or not) to the original conditions set forth in Appendix 6, and
shall return the Premises in good, clean and normal condition and in good repair to the Lessor (other than normal wear and tear), and meanwhile shall return to the Lessor the keys to all parts of the Building and to the toilets or to other places of
the Building accessible to the Lessee. 

  

	3.9.2	 If, on the expiration date of the Lease Term or on the early termination date, the Lessee fails to restore the
Premises to its original condition in accordance with Clause 3.9.1 hereof, the Lessor shall have the right to restore the Premises to its original condition, either by itself or by appointing a third party, and all expenses arising therefrom shall
be borne by the Lessee. 

  

	3.9.3	 After the Lessee moves out of the Premises for whatever reason at any time during the Lease Term or after the
termination of the Lease Term (including early termination), the title to all decorations, facilities and movable items left in the Premises (hereinafter referred to as “Remains”) shall be deemed to be waived by the Lessee. The Lessor
shall have the right to sell, transfer, discard or dispose of the Remains in any manner as it deems fit. Any notary fees, attorneys’ fees or other expenses incurred by the Lessor in the above process shall be borne by the Lessee. Meanwhile, the
Lessor is also entitled to recover from the Lessee all costs incurred in the removal, disposal of the aforesaid items or to deduct in advance such costs from the security deposit paid by the Lessee. If the security deposit paid by the Lessee is
insufficient to cover such costs, the Lessor shall still be entitled to continue to recover the shortfall from the Lessee. 

  

	3.9.4	 The Lessee shall be responsible for repairing the damage to the Premises or the Building in the course of the
moving and removal of the Lessee’s attachments, installations and additions. In the event that the Lessee violates the provisions of this Clause, the Lessor shall have the right to undertake by itself reasonable repairs on the Premises or
Building and all costs incurred therefrom will be borne by the Lessee. The Lessor is not required to compensate the Lessee for any impairment of the value of the Lessee’s attachments, installations and attachments resulting from the removal of
the Lessee’s attachments, installations and additions in the Premises. 

  
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	3.9.5	 Upon mutual agreement by the Parties, the Lessee may hand over the decoration fittings or the installed
equipment or attachments in the Premises (excluding movable equipment owned by the Lessee) in good and leasable condition (other than reasonable wear and tear) to the Lessor. Upon such hand-over, the Lessor shall become the owner of such
decorations, equipment and attachments and the Lessor is not required to compensate the Lessee therefor. 

  

	3.9.6	 The Lessee shall, upon termination or early termination of this Contract, promptly cancel or change the
industrial, commercial and tax licenses on which the Premises are shown as the registered address of the Lessee, and shall pay off all the fees payable on the Premises and go through the formalities concerning the change or cancellation of the
relevant account. If the Lessee fails to do so within 45 days after the termination or early termination of this Contract, the Lessee agrees to authorize the Lessor to proceed with the relevant cancellation on its behalf, and all costs incurred as a
result thereof shall be borne by the Lessee. If the Lessee fails to go through the cancellation or relocation formalities within the period agreed above, the Lessor shall have the right to demand the Lessee to pay a default penalty equal to RMB500
per day from the date of termination or early termination of this Contract, and the Lessor shall be entitled to continue to recover if the default penalty is not sufficient to make up for the Lessor’s loss. The Lessor may directly deduct such
fee from the deposit, and if the deposit is not sufficient, the Lessee shall make up the difference. 

 Use of Air-Conditioning Equipment 
  

	3.10.1	 The Lessee must carefully and reasonably use or adjust any central
air-conditioning (cooling or air circulation) equipment or machine provided by the Lessor for the Premises. 

  

	3.10.2	 The Lessee shall not install other air-conditioning units and equipment
other than those provided by the Lessor, nor shall install air-conditioning units and equipment to replace the air-conditioning facilities provided by the Lessor.

 Removal of Non-Conforming Items 

 

	3.11	 The Lessee shall, at its own expense and in accordance with the requirements of Shanghai real estate
administrative authority or other relevant government departments and the Lessor, remove any non-conforming structures, buildings, partitions and other alterations in the Premises at any time during the Lease
Term. If the Lessee fails to do so as required, the Lessor shall be entitled to perform the works on its behalf, and all costs incurred in connection therewith shall be borne by the Lessee. 

Nuisance 
  

	3.12.1	 The Lessee shall not cause, produce, allow or permit to be produced, any sound, noise or vibration (including
TV, radio, broadcast sound and any music, sound or vibration produced by any equipment or apparatus capable of producing sound), nor shall perform any thing or act in the Premises which may cause nuisance to the Lessor, landlord, tenant, user of
other premises in the Building, occupier or user of adjacent premises in the Building. 

  
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	3.12.2	 The Lessee agrees that any continuing breach of the provisions of Clause 3.12.1 hereof shall constitute a
breach of this Contract and the Lessor shall have the right to unilaterally terminate this Contract and to recover possession of the Premises before the expiration of the Lease Term. 

Use of the Premises 
  

	3.13.1	 The Premises are for non-residential purposes and the Lessee shall not
use the Premises or any part thereof for any purposes other than office and shall not adversely affect the goodwill and reputation of the Lessor or the Building. The Lessee shall apply for and obtain by itself the licenses, approvals or permits
required for its business operation in the Premises. In addition to its guarantee that the Premises are for office purposes, the Lessor makes no representations or warranties with respect to any other use of the Premises. The Lessee shall indemnify
the Lessor against the losses caused to the Lessor or the Building as a result of the Lessee’s breach of the above provisions. 

  

	3.13.2	 The Lessee shall not use or cause, permit or allow the use of any part of the Premises as a casino or use the
Premises for any unlawful, unethical or improper purpose. The Lessee shall have sole responsibility to control its permitted persons or visitors and to prevent them from staying in the common area of the Building. 

 

	3.13.3	 The Lessee shall not produce, manufacture, process or store any goods or commodities in the Premises or any
part thereof; shall not carry out or permit any sale, auction of goods or any similar sale in the Premises; and shall not solicit business, peddle, distribute booklets or advertise outside the Premises or in any part of the Building.

  

	3.13.4	 The Lessee shall not prepare food or drink in the Premises, nor shall use the appliances to cook, boil or heat
any food (other than the pantry in the regular office). 

  

	3.13.5	 The Lessee shall not bring into the Premises (or any other part of the Building) any odor which the Lessor
considers to be disgusting, irritant or any toxic and harmful gas, or cause such odor or gas to be leaked out from the Premises (or any other part of the Building), or permit any such event to occur. 

 

	3.13.6	 The Lessee shall not smoke in the Premises or any other part of the Building, and the Lessee shall have sole
responsibility to ensure that its permitted persons and visitors shall not smoke in the Premises or in any other part of the Building. 

  

	3.13.7	 The Lessee shall not use the Premises as a place to sleep or residence as defined in general practice. The
Lessee shall not permit any person to stay overnight unless the Lessor has given a prior written consent to do so. The consent is only intended to be used by the Lessee to arrange a duty officer to safekeep the items in the Premises and the name of
such duty officer must be registered with the Lessor before the Lessor gives such consent. 

 Hazardous Materials 

 

	3.14	 The Lessee shall not at any time place, keep, store, or permit or allow the placing, keeping or storage of, any
weapon, ammunition, gunpowder, saltpeter, kerosene or any other dangerous item, inflammable, explosive material which the Lessor considers to be hazardous or toxic. 

  
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 Blockage of Passages 

 

	3.15	 The Lessee shall not block any entrance or exit, stair, platform, passage, automatic stair, elevator, lobby or
other common areas in the Building or stack any box, paper tray, garbage or other obstructions of any kind or nature at the aforesaid sites of the Building. In the event of a violation of the foregoing, the Lessor or the Management Company shall
have the right, without notice, to clear and dispose of any obstruction left by or not fully disposed of by the Lessee in such manner as the Lessor deems fit, and all costs incurred as a result thereof shall be borne by the Lessee, and the Lessor
shall not be liable to the Lessee or any other person as a result thereof. 

 Parking 

 

	3.16	 The Lessee shall not park cars or vehicles in a manner that would cause blockage, and the Lessee shall only use
the parking lot, driveway, parking passage or cargo loading or unloading area of the Building in accordance with the permission and instructions of the Lessor or the Management Company. 

Animals, Pets and Pests 
  

	3.17.1	 The Lessee shall not keep any animals or pets in the Premises. 

 

	3.17.2	 The Lessor will coordinate the measures taken by the Lessee to protect the Premises or any part thereof against
the proliferation of termites, rats, cockroaches or any other harmful insects and parasites. For this purpose, the Lessee shall, at its own expense and for a period specified by the Lessor or the Management Company, engage a pest-killing contractor
designated or agreed by the Lessor or the Management Company to carry out the aforementioned pest killing or prevention work. 

 Use of
the Name of the Building 
  

	3.18.1	 Without the prior written consent of the Lessor, the Lessee shall not, for any purposes, use the name/mark of
the Lessor, the Building or the Premises or any part of the image of such name/mark, except for showing the direction to its business address. 

  

	3.18.2	 When carrying out its external operations and registration, the Lessee shall use the correct name of the
Building (i.e. “Corporate Avenue”) to indicate its operation address. 

 Cargo Handling 

 

	3.19.1	 In the case of loading and unloading of cargo, the Lessee shall use the cargo loading and unloading area,
entrance and exit and cargo lift as specified by the Lessor or the Management Company, and may only load and unload cargo at such time as the Lessor or the Management Company may specify. Under no circumstances shall the Lessee use a passenger lift
or an electric staircase to carry the cargo at any time. 

  

	3.19.2	 All clearance, removal of furniture or any other large-size item into
or out of the Building shall be carried out within such time as the Lessor or the Management Company may specify, and the Lessor or the Management Company reserves the right to refuse the entrance into or exit from the Building of any item which it
considers to be in breach of the terms of this Contract. 

  
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 Delivery of Food 

 

	3.20	 The Lessee shall not approve or permit any food or utensils containing food to be delivered to or removed from
the Premises through any elevator, entrance or exit of the Building other than the cargo lift and cargo entrance and exit of the Building. 

Installation and Alteration of Facilities 
  

	3.21	 Without the prior written consent of the Lessor, the Lessee shall not, and shall not permit others to:

  

	 	(i)	 To lay, install and erect any antenna, wire, cable or other items or things on the roof, wall, entrance and
exit, staircase, platform, passage, lobby or other common areas of the Building or on the ceiling and wall of the Premises, or move, remove or alter public antennas, satellite cables or other receivers provided by the Lessor. The Lessee shall
provide access to the Lessor for the installation, improvement, maintenance and alteration of any audio-visual reception facilities of the Building. 

  

	 	(ii)	 To erect, install or alter any attachments, partitions, electrical wires, pipes, air conditioning units or
other buildings, installations in the Premises. 

  

	 	(iii)	 To install or permit or allow the installation of equipment and appliances or machines in the Premises in
excess of the floor load limits, or the amount of water, electricity or gas used to install the equipment is not shown in the separate meters. The Lessor shall have the right to set the maximum load capacity and specify the location where the safe
or other heavy objects shall be installed and may require such objects to be placed on the support frame in order to distribute the load. 

  

	 	(iv)	 To modify the existing door locks, latches and fittings to the entrance and fire-fighting exit of the Premises;
to install any temporary or permanent additional door locks, latches or fittings; to install any door, metal gate or shutter which may be in breach of the requirements effective from time to time which are issued by the fire-fighting department or
other relevant governmental authorities. 

 Damage to the Premises and Public Facilities 

 

	3.22	 Without the prior written consent of the Lessor, the Lessee shall not, and shall not permit others to:

  

	 	(i)	 To repair, cut, demolish, damage, hole, mark or destroy the doors, windows, window frames, walls, glass curtain
walls, ceilings, structural load-bearing beams of the Premises or other fixtures of the Premises or any piping work, sanitation, water, gas, air conditioning system. 

 

	 	(ii)	 To stick any item or paint, alter, hang any item inside and outside the Premises and in the common area of the
Premises, or drop any item from the Premises, or destroy, damage or stain any part of the structure of the 

  
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	 	Building, or any decorative appearance of the common area, staircase, lift, escalator of the Building (including such decorations as trees, plants and miniascape at the above sites). 

 

	 	(iii)	 To spray, paint or stick any item and substances inside or outside of the windows and on the window frames,
glass curtain walls of the Premises. 

  

	 	(iv)	 To pin or insert any nail, screw, hook, wall bracket or other similar items into the ceiling, wall or floor of
the Building, (other than the decorations which are light and would not cause damage to any part of the Premises). 

 Toilets, Sanitary
Equipment 
  

	3.23.1	 The Lessee shall not use the toilets in the Premises and the toilets and related equipment in the common area
of the Building as provided by the Lessor for any purposes other than their designed function. The Lessee shall not throw any foreign material into the sanitary ware. 

 

	3.23.2	 The Lessee shall, within fourteen days upon request by the Lessor, pay to the Lessor all costs arising from any
burst, blockage or damage to the toilet equipment, sanitary equipment and sanitary pipe caused by the Lessee’s breach of Clause 3.23.1 hereof, and shall fully indemnify the Lessor against any loss incurred by the Lessor as a result thereof.

 Tenant Renovation Manual, Tenant Manual 
  

	3.24	 The Lessee acknowledges receipt of and fully understands the contents of the Tenant Renovation Manual and
Tenant Manual, and undertakes to comply with the terms of these manuals during the Lease Term. If the Lessee breaches such manuals, the Lessor shall have the right to hold the Lessee liable for breach in accordance with the provisions of such
manuals and/or the provisions of this Contract. 

 Chapter IV Responsibilities of the Lessor 

The Lessor hereby agrees with the Lessee as follows: 

Ownership of the Premises 
  

	4.1	 At the time of the execution hereof, the Lessor has notified the Lessee that the land on which the Premises are
located is for commercial and office use and that the Lessor is the lawful owner of the real estate rights of the Premise and holds a real estate ownership certificate (No. [***]). The Premises are for office use only. 

Use Right of the Premises 
  

	4.2.1	 Provided that the Lessee has paid the Rent and other costs to be paid by the Lessee as agreed in this Contract
according to the payment timeline and method as specified in this Contract and that the Lessee has complied with and performed the terms, undertakings, provisions, conditions and obligations to be complied with and performed by the Lessee under this
Contract, the Lessee shall have the right to use and enjoy the Premises during the Lease Term without any unlawful interference by the Lessor or its representatives. 

  
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	4.2.2	 The Lessee agrees and understands that for the purpose of maintaining the Building in good condition during the
Lease Term, the Lessor shall have the right to undertake by itself or permit other to undertake the maintenance or repair at the time as it deems fit, and the noise or other disturbance generated by such works shall not constitute a nuisance to the
Lessee, provided that the Lessor shall use its best endeavors to minimize the nuisance to the Lessee caused as a result of such works. 

Mortgage 
  

	4.3	 At the time of the execution hereof, the Lessor has notified the Lessee that the Premises have been mortgaged
to the bank. 

 Delivery 
  

	4.4.1	 The Lessor agrees to deliver the Premises to the Lessee as agreed in Appendix 4, and from the date of delivery,
the Lessee shall comply with the provisions of this Contract, and all terms, conditions as agreed in this Contract as well as the responsibilities, obligations, warranties and undertakings to be complied with and performed by the Lessee under this
Contract shall be fully binding on the Lessee. 

  

	4.4.2	 Prior to the delivery of the Premises, the Lessor shall have the right to require the Lessee to provide an
insurance policy and other relevant documents/certificates in accordance with Clause 10.1 of Chapter X of this Contract. 

  

	4.4.3	 If the Lessee fails to complete the formalities for the delivery of the Premises on the first day of the Lease
Term, the Lessor shall be entitled to require the Lessee to pay the Rent, Management Fee and other fees payable by the Lessee to the Lessor from the first day of the Lease Term. If the Lessee fails to complete the acceptance and handover formalities
by the 30th day after the first day of the Lease Term, the Lessor shall have the right to terminate this Contract and forfeit all security deposit and to seek indemnification for all losses suffered by the Lessor as a result of such action by the
Lessee. 

 Reconstruction 
  

	4.5.1	 If, at any time during the Lease Term, the Lessor resolves (a board resolution issued by the Lessor shall be
deemed as a valid proof) to rebuild or demolish the Building or any part thereof (including the Premises), the Lessor shall be entitled to give the Lessee six months’ written notice to terminate the Lease Term prior to the expiration thereof,
and the Lease Term shall end on the date as specified in such notice. The rights and remedies of either Party against the other Party for breach of this Contract prior to the expiration of the notice period under such written notice shall not be
affected by the early termination of the Lease Contract. 

  

	4.5.2	 The Lessee shall not be entitled to any Rent exemption, compensation or any other remedy in respect of the
above early termination of the Lease Term. 

 Taxes and Fees 

 

	4.6	 The Lessor shall pay to the relevant governmental authorities all taxes and fees payable by the Lessor in
respect of the lease of the Premises in accordance with laws and regulations. 

  
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 Repair 

 

	4.7	 The Lessor shall reasonably cause the Management Company to keep the roofs, main structures, walls, main
drainage pipelines and main cables, common areas and facilities of the Building in good working condition. However, the Lessor shall not be liable for the foregoing unless the Lessee notifies the Lessor in writing of any defects or any need for
repair but the Lessor fails to notify the Management Company of any necessary repair within a reasonable time after receiving the notice. 

Air-Conditioning Services 
  

	4.8	 The Lessor shall reasonably cause the Management Company to provide air conditioning services to the Premises.
The air conditioning service hours are detailed in Appendix 5. If the Lessee requests the use of air conditioning service after the air conditioning service hours set forth in Appendix 5, the Lessee shall give a reasonable prior notice to the
Management Company. The Lessee must pay all expenses incurred in connection with the provision of additional air conditioning services and the corresponding VAT at the request of the Lessor (or Management Company). 

Chapter V Exemption 
 The Lessor and
the Lessee hereby expressly agree that, except for willful or gross negligence by the Lessor, the Lessor shall not, under any of the following circumstances, be liable to indemnify or offer the Rent exemption to or assume other legal liabilities to,
the Lessee or any other person. Unless otherwise agreed in this Contract or agreed in writing by the Lessor, no reduction in or suspension of payment of the Rent, Management Fee and other fees agreed under this Contract shall be permitted. The
Lessee agrees that it shall directly bring an infringement action and/or claim against the infringing third party if the following circumstances are caused by such third party. 

Elevators, Other Equipment, Electricity and Water Supply 
  

	5.1	 The Lessee or any other person suffers or incurs any personal or property damage, loss, destruction or any
business loss or any disturbance or inconvenience, which is caused as a result of any malfunction, defect, wear and tear in the elevator, escalator, fire security facility, central air conditioning system or other equipment in the Building, or as a
result of inadequate supply, failure, burst, alteration, disruption or suspension of electricity, water, gas, telecommunications and telephone services and other public facilities, 

Fire, Flood and Pest 
  

	5.2	 The Lessee or any other person suffers or incurs any personal or property damage, loss, destruction or any
business loss, which is caused as a result of any typhoon, landslide, poisonous gas, fire, smoke or leakage of any other substance or item, water spill, any vibration in the Building or adjacent buildings, any infiltration of rain and sea water, any
proliferation of rats, termites and other pests, or any act, omission, negligence or slack of other users of the Building, any defect in the fixtures and fittings (or any part of such fixtures or fittings) of the Building and the Lessor, any fall or
drop of any item in the Building, any explosion, theft, robbery in/to the Building or the Premises. 

  
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 Security 

 

	5.3	 The provision by the Lessor or the Management Company of any security guard, management personnel, machines of
any nature or electronic anti-theft systems (if any) does not necessarily constitute an obligation of the Lessor to be responsible for the security of the Premises, the safekeeping of belongings in the Premises and the personal safety of the persons
in the Premises. The Lessee shall at all times be liable for the security of the Premises and the persons and property in the Premises. 

Works 
  

	5.4	 The Lessee suffers any inconvenience or interference in the use of the Premises or suffers any loss or damage,
which is caused as a result of the suspension of the facilities of the Building such as air-conditioning, antenna, elevator and escalator due to the re-installation,
maintenance or repair by the Lessor or Management Company of the common area or facilities of the Building. 

Chapter VI Rent Exemption 

Suspension of Rent Payment 
  

	6.1	 If, at any time during the Lease Term, any part of the Building or the Premises is damaged or destroyed and
therefore the Premises are not available for use due to any fire, flood, storm or typhoon, building defect, termite, earthquake, subsidence or any other disaster beyond the control of the Lessor but not attributable to any act, omission, non-performance, negligence or slack of the Lessee, its agent, employee, contractor or permitted person; or if, at any time during the Lease Term, the Building or the Premises is declared as dangerous building or
receives the demolition or closure order due to the reasons not attributable to the act, omission, non-performance or negligence of the Lessee, its agent, employee, contractor or permitted person, then the
Lessee may, based on the type and extent of the proven damage and the reasonable part of the Rent reduced by the order, suspend the payment from the first day of the next calendar month following the damage or destruction of the Premises until the
Building is repaired or available for use or the above order has been removed. Provided that if the Lessor considers that such repair is not practicable in practice, the Lessor shall not be required to repair the damaged or destroyed part of the
Building or the Premises. 

 Termination of This Contract for Damage or Destruction 

 

	6.2	 At any time after three months from the date on which such damage and destruction occurred, this Contract may
be terminated by either the Lessor or the Lessee by written notice to the other Party prior to the reconstruction of the Building or the Premises; this Contract shall terminate immediately after such notice is delivered, but this would not affect
the right of either Party to seek indemnity from the other Party for such Party’s breach hereof prior to the termination, or affect the Lessor’s right to collect the Rent and other costs payable by the Lessee prior to the occurrence of
such events as described in Clause 6.1. 

  
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 Chapter VII Breach and
Indemnification 
 Breach of Contract 
  

	7.1	 Without prejudice to the Lessor’s rights to initiate legal proceedings against the Lessee in connection
with any breach, non-compliance or non-performance of any terms and conditions hereof by the Lessee and the Lessor’s rights to deduct any amount from the security
deposit paid by the Lessee pursuant to Chapter VIII hereof for any losses and damages suffered by the Lessor as a result of the aforementioned breach, non-compliance or
non-performance by the Lessee, the Lessor shall have the right to lawfully recover possession of the Premises or any part thereof and this Contract shall be terminated with immediate effect upon the occurrence
of any of the following circumstances, in which event the Lessor shall not be liable to indemnify the Lessee against any expenses relating to leasehold improvements or addition of equipment. Such circumstances include: 

 

	 	(i)	 The Lessee is delinquent on any Rent, Management Fee and/or other expenses or taxes payable hereunder for more
than seven days from the respective due dates thereof (with or without formal recourse). 

  

	 	(ii)	 The Lessee uses the Premises in violation of the usage provided herein. 

 

	 	(iii)	 The Lessee surrenders Premises without the consent of the Lessor prior to the expiration of the Lease Term.

  

	 	(iv)	 The Lessee goes into mandatory or voluntary bankruptcy, initiates liquidation procedures, conducts liquidation
(other than for the purposes of restructuring or merger), or is under receivership, thus affecting the Lessee’s ability of performance hereunder. 

  

	 	(v)	 The Lessee has, without the written consent of the Lessor, ceased its business operation or indicated its
intention to cease business operation, thus affecting the Lessee’s ability of performance hereunder. 

  

	 	(vi)	 The Premises or any of the Lessee’s properties are subject to compulsory acquisition or seizure, thus
affecting the Lessee’s ability of performance hereunder. 

  

	 	(vii)	 A winding-up petition against the Lessee has been submitted by any
person to and accepted by a court. 

  

	 	(viii)	 The Lessee has been delinquent on any Rent, Management Fee or other expenses for three times during the Lease
Term, and is once again delinquent on any of the foregoing after the Lessor’s delivery of a written warning. 

  

	 	(ix)	 Except as otherwise provided in Clauses 7.1(i) to (viii) hereof, the Lessee is in breach of contract and
fails to cure such breach within fifteen days after the Lessor’s delivery of a written notice. 

  
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 Indemnification for Breach of Contract 

 

	7.2.1	 Upon the occurrence of any circumstance set forth in Clause 7.1 hereof, the security deposit paid by the Lessee
shall not be refunded, and the Lessee shall, in addition to paying any outstanding amounts due to the Lessor hereunder (including, without limitation, Rents, Management Fees and other expenses payable by the Lessee), bear the following liabilities
for breach of contract: 

  

	 	(1)	 The Lessee shall pay to the Lessor liquidated damages amounting to the sum of the outstanding Rents payable by
the Lessee for the remaining Lease Term. If the Lessor is able to rent the Premises to others during the Lease Term hereunder, the amount of liquidated damages payable by the Lessee shall be reduced accordingly. 

 

	 	(2)	 If the Lessor is entitled to any renovation period and rent-free period, the Lessee shall pay Rents to the
Lessor for these periods at the rental rate provided herein. 

 Provided, however, the sum of the Rents that have been paid
by the Lessee and the amounts of items (1) and (2) above shall not exceed the aggregate Rents payable by the Lessee for the entire Lease Term hereunder. 
  

	7.2.2	 Upon the occurrence of any circumstance set forth in Clause 7.1 hereof, the delivery of a written notice by the
Lessor to the Lessee to the effect that the Lessor thereby exercises the right to recover possession of the Premises pursuant to this Contract shall constitute the complete and full exercise of such right by the Lessor, and the Lessor does not need
to physically enter the Premises to exercise such right. 

  

	7.2.3	 Without prejudice to the Lessor’s rights to initiate legal proceedings against the Lessee in connection
with any breach, non-compliance or non-performance of this Contract by the Lessee, if the Lessee fails pay on time all or part of the Rents, Management Fees or any other
expenses provided herein (hereinafter as the “Overdue Payments”) and fails to make payment within seven days after the Lessor’s delivery of a written overdue notice , the Lessor may exercise the following rights:

  

	 	(a)	 The Lessor may require the Lessee to indemnify the Lessor against all the damages, costs and expenses incurred
by the Lessor in connection with the recovery of the Overdue Payments, including, without limitation: 

  

	 	(i)	 Additional costs of the employees of the Lessor and the Management Company in connection with the recovery of
the Overdue Payments as reasonably determined by the Lessor; 

  

	 	(ii)	 All reasonable legal fees (including attorneys’ fees and litigation costs) incurred by the Lessor in
connection with the recovery of the Overdue Payments from the Lessee, whether or not the legal proceedings have been initiated; 

  

	 	(iii)	 Any reasonable expenses paid by the Lessor to engage a collector in connection with the recovery of the Overdue
Payments from the Lessee. 

  

	 	(b)	 The Lessor may, with a 48-hour prior written notice to the Lessee,
immediately instruct the Management Company to cease providing water, electricity, gas, telecommunications, telephone, air conditioning and other management services to the Premises and take any other measures and actions as the Lessor deems
appropriate until the Lessee 

  
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	 	has paid up all the Overdue Payments and costs arising therefrom (including the costs for reconnecting water, electricity, gas, air conditioning, telecommunications and telephone services), and the Lessor shall not bear
any liability for any damage or loss suffered by the Lessee as a result thereof. The rights and legal remedies to the Lessor under this Clause shall be in addition and without prejudice to the Lessor’s rights and legal remedies to recover the
Overdue Payments and any amounts from the Lessee. 

 Acceptance of Rents 

 

	7.3	 The recovery or acceptance of any Rent by the Lessor or its agent shall not be deemed as the Lessor’s
waiver of its right to hold the Lessee liable for any breach, non-compliance or non-performance of any agreement, provision or undertaking that the Lessee is bound by
hereunder. The Lessee shall not use such recovery or acceptance of Rent as a defense against the Lessor’s exercise of rights such as forfeiture of the security deposit and etc. 

Surrender of the Premises without Consent of the Lessor 
  

	7.4	 Except as provided herein, if the Lessee surrenders the Premises without the consent of the Lessor, the Lessor
shall be entitled to exercise the right under Clause 7.1 hereof to terminate this Contract and the Lessee shall bear the liabilities for breach of contract provided herein. 

Late Surrender of the Premises 
  

	7.5	 If the Lessee is late in surrendering the Premises upon the expiration of the Lease Term or early termination
of this Contract, the Lessee shall indemnify the Lessor against all the losses the Lessor suffered as a result thereof, including, without limitation, the liquidated damages to be borne by the Lessor due to the late handover of the Premises to new
tenant(s). Furthermore, the Lessee shall pay to the Lessor an occupancy charge amounting to twice the original daily Rent for each day of such delay; and the Lessor shall have the right to recover possession of the Premises (including, without
limitation, that the Lessor shall have the right to open the doors of the Premises, change door locks and enter the Premises at its discretion) at any time, and the Lessee shall be deemed to have relinquished its ownership to all the improvements,
facilities and movable items left in the Premises (hereinafter referred to as the “Remains”). The Lessor shall have the right to sell, transfer, discard or otherwise dispose of the Remains in any manner as the Lessor deems appropriate. Any
notary fees, attorney’s fees or other costs incurred by Lessor in the aforementioned process shall be borne by the Lessee. 

Chapter VIII Lessee’s Security Deposit 

Security Deposit 
  

	8.1.1	 The Lessee shall pay to the Lessor a security deposit, in accordance with the terms detailed in Appendix 5.
During the Lease Term, the Lessor shall hold the security deposit received by it, and the Lessor shall not be obligated to pay the Lessee any interests on such security deposit. During the Lease Term, the Lessee shall not deduct any amount payable
from the security deposit, such as Rent and Management Fees, etc. 

  
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	8.1.2	 The amount of the security deposit shall be equal to the amount detailed in Appendix 5 upon the execution of
this Contract. During the Lease Term, such security deposit shall be increased accordingly with the increase of the Rent and Management Fee provided herein and the corresponding VAT. 

 

	8.1.3	 During the Lease Term, if the Lessor suffers loss due to Lessee’s breach of contract, the Lessor shall
deduct the corresponding amount from the security deposit as per its losses (including, without limitation, any amounts, interests, liquidated damages and indemnification payable by the Lessee as provided herein and any advances paid by the Lessor).
The Lessee shall immediately make up any shortfall in the security deposit to the Lessor. If the deposit is insufficient to cover the Lessor’s losses, the Lessor may claim additional indemnification from the Lessee. 

 

	8.1.4	 If the Lessee fails to make up the deposit in accordance with Clause 8.1.3 above, the Lessor shall have the
right to withdraw the Premises in advance, and this Contract will be terminated accordingly with immediate effect. In addition, the Lessor has the right to forfeit any remaining security deposit. If the balance of the security deposit is
insufficient to cover the Lessor’s losses, the Lessor may claim additional indemnification from the Lessee. 

 Return of the
Security Deposit 
  

	8.2.1	 If the Lessee requests an early termination of this Contract for any reasons attributable to itself, the Lessor
shall not be required to return the security deposit paid by the Lessee. Additionally, the Lessor is entitled to claim the losses it suffered arising therefrom against the Lessee in accordance with the applicable laws and the provisions hereof.

  

	8.2.2	 Without prejudice to the foregoing, within 30 days after all of the following conditions have been satisfied,
the Lessor shall deduct from the security deposit any losses it suffers (if any) and return the balance thereof without interest to the Lessee: 

  

	 	(i)	 Upon the expiration of the Lease Term has expired (or upon the early termination in accordance with the terms
hereof); 

  

	 	(ii)	 The Lessee has returned the Premises to the Lessor in accordance with the terms hereof; 

 

	 	(iii)	 The Lessor and the Lessee have confirmed the remaining amount of the security deposit and the settlement of the
same; 

  

	 	(iv)	 The Lessee has provided the Lessor with the original copy of the receipt evidencing its acceptance of the
balance of security deposit; 

  

	 	(v)	 The Lessee has canceled or altered all the licenses and permits with the Premises listed as its registered
address. 

 Transfer of the Security Deposit 
  

	8.3	 If the Lessor transfers the Premises to a third party, the Lessor shall be entitled to transfer the security
deposit to such third party, provided that such third party shall undertake in writing to continue to perform this Contract. Thereafter, the Lessor shall bear no further liability in connection with this Contract or the security deposit.

  
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 Chapter IX Renovation

 Renovation 
  

	9.1	 The Lessee must carry out the interior renovation, partitioning, equipment installation or reconstruction of
the Premises pursuant to the renovation floor plan and specifications submitted in advance and consented by the Lessor in writing in accordance with Clause 9.2. The Lessee shall also use good techniques and high-quality materials to ensure that the
style of the Premises satisfy the requirements of the building as a first-class commercial office building, and during the Lease Term, use its best efforts to maintain the Premises in a good condition and proper repair satisfactory to the Lessor.
Notwithstanding the Lessor’s consent to the renovation, the Lessor shall not be liable for any damages or claims arising from the design defects, quality of renovation etc. The Lessee shall not make any change to the renovation floor plan and
specifications or the internal design and configuration of the Premises without the prior written consent from the Lessor. 

  

	9.2	 With respect to the renovation, redecoration or repair of the Premises, the Lessee agrees to observe and comply
with the Tenant Renovation Manual and the following provisions: 

  

	 	(i)	 The Lessee all, at its own expense, prepare and submit to the Lessor or the Management Company proper floor
plans and specifications for the project (hereinafter as the “Lessee’s Project”), and submit the outlines of the project’s design plan and illustration as well as proposed settings for the project (collectively as the
“Lessee’s Proposal”). 

  

	 	(ii)	 The Lessee’s Proposal must: 

 

	 	(1)	 include detailed plans and specifications for any changes to electrical wiring,
air-conditioning, ducts, fire protection equipment and other public facilities; 

  

	 	(2)	 include detailed lighting illustration; 

 

	 	(3)	 comply with all the relevant rules and regulations issued by competent PRC governmental authorities from time
to time. 

  

	 	(iii)	 The Lessor or the Management Company shall, within ten business days after the Lessee’s submission of the
Lessee’s Proposal, approve or reject the Lessee’s Proposal, or require the Lessee to modify such proposal. 

  

	 	(iv)	 The Lessee shall pay the drawing review fee for the “Lessee’s Proposal” set forth in Appendix 5
and other relevant expenses during the renovation period (including, without limitation, supervision fees, renovation deposits, waste removal fees, etc.). 

  

	 	(v)	 The Lessee shall not commence the Lessee’s Project until it has received the written consent from the
Lessor or the Management Company and obtained the approval from the competent governmental authorities. The Lessee shall commence the Lessee’s Project as soon as practicable after receiving the relevant permits and complete the construction in
a timely manner. 

  
 - 20 - 

 

 
  

	 	(vi)	 Works involving public equipment, facilities, systems and structures (including, without limitation, fire
protection system work and air conditioning testing) must be performed by contractors designated by the Lessor. All other renovation works must be performed by contractors designated by the Lessee and approved by the Lessor, whose qualifications
must comply with the relevant provisions of the Lessor’s renovation code. 

  

	 	(vii)	 The Lessee must submit the following materials to the Lessor at least three days prior to the commencement of
the construction: 

  

	 	(1)	 The names and addresses of the general contractor and other contractors proposed to be engaged for the
Lessee’s construction works; 

  

	 	(2)	 The actual commencement date and expected completion date of the construction works and the planned business
opening date. 

  

	 	(viii)	 The Lessee shall, when carrying out any project approved in accordance with Clause 2 of Chapter IX or other
provisions hereof, direct its employees, agents, contractors, licensees and workers to cooperate with the Lessor and/or the Management Company, its employees, agents, workers and the other tenants and contractors performing any work in the Building.
The Lessee must undertake to direct its agents, employees, contractors, licensees and workers to observe and comply with the instructions given by the Lessor and/or the Management Company, its agents and employees regarding the performance of
project works. 

  

	9.3	 The Lessee must submit all the necessary applications and plans to the competent governmental authorities, and
shall not carry out any interior renovation, partitioning, construction, equipment installation or alteration of the Premises before obtaining all the necessary approvals, licenses or permits from the competent governmental authorities and the
written approval from the Lessor or the Management Company. If the Lessee has started any interior renovation, partitioning, construction, equipment installation or alteration of the Premises before obtaining all the necessary approvals, licenses or
permits from the competent governmental authorities for any reason whatsoever, the Lessee shall be solely liable for all the consequences arising from such illegal construction, including, without limitation, be responsible for all the costs and
expenses relating to the demolition of fixtures and alterations for purposes of complying with the requirements of the competent governmental authorities. The Lessee shall also indemnify the Lessor against all the direct losses, claims, expenses and
litigations suffered by the Lessor as a result of the Lessee’s breach of this Clause. 

  

	9.4	 The Lessee shall apply for acceptance inspections or submit filing materials to the competent governmental
authorities after the completion of the renovation works in accordance with laws. The Lessee shall also submit to the Management Company the fire protection inspection certificate and the receipt for the filing of the project (if any) issued by the
governmental authorities, as well as the renovation completion drawings (in 2 copies). If the Lessee’s renovation works do not conform to the renovation plan that was pre-approved by the Lessor or the
Management Company, the Lessor or the 

  
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	 	Management Company shall have the right to require the Lessee to make rectifications within a reasonable period of time. Where the Lessee’s renovation works fail to meet the requirements of the competent
governmental authorities, all the losses arising from the Lessee’s unauthorized use of the Premises shall be borne by itself. Upon the occurrence of the foregoing, the Management Company shall have the right to stop the Lessee from using the
Premises for safety concerns. 

  

	9.5	 Should there be any inconsistency or conflict between this Clause and the provisions of the Tenant Renovation
Manual/Tenant Manual, the Tenant Renovation Manual/Tenant Manual shall prevail. 

 Chapter X Insurance 

 

	10.1	 During the Lease Term, the Lessee must obtain, at its own expense, insurances that satisfy the following
minimum thresholds: 

  

	10.1.1	 Insurances for the Renovation Period: 

If the Lessee carries out any renovation works on the Premises, during such renovation period, 

 

	 	(1)	 the Lessee shall obtain, at its own expense, construction all risks insurance (including third-party liability
insurance) for the renovation works it performs on the Premises, and such insurance policy shall include the following special additional clauses: 

  

	 	•	 	 cross liability and waiver of subrogation clause; 

 

	 	•	 	 error and omission and misrepresentation clause; 

 

	 	•	 	 no control clause; 

  

	 	•	 	 vibration, removal or weakening of support clause; and 

 

	 	•	 	 property under control, care and custody clause; 

 

	 	(2)	 the Lessee, the Lessor and the construction contractors shall be insured and all as insurance beneficiaries;

  

	 	(3)	 the insured amount for physical losses under the policy shall not be less than the total construction cost.

 Before entering the site for renovation, the Lessee shall submit the aforementioned insurance policy and premiums
payment voucher to the Management Company for review and record. If the Lessee fails to provide a valid evidence proving the purchase of insurances meeting the foregoing requirements, the Lessor and/or the Management Company may prohibit the Lessee
from performing construction works or obtain insurances on behalf of the Lessee with the premiums incurred to be borne by the Lessee, and the renovation period/Lease Term will not be extended. 

  
 - 22 - 

 

 
  

	10.1.2	 Other Insurances: 

  

	 	(1)	 During the Lease Term, the Lessee must obtain, at its own expense, public liability insurance for its business
operations, adopting a commonly used public liability insurance policy in China and with the Lessor and the Lessee as the insured; the policy shall have an insured amount meeting the Lessor’s requirements and include the following special
additional clauses: fire and explosion clause, building alteration clause, advertisement and decorations liability clause, personal injury liability clause, loading and unloading of vehicles clause, cross liability clause and landlord liability
clause. 

  

	 	(2)	 During the Lease Term, the Lessee must obtain, at its own expense, property all risks insurance for the
renovation equipment (including, without limitation, the inner glass of the glass curtain wall) and other owned properties (where buildings, machinery and equipment, furniture and office supplies shall be insured at replacement value, and
inventories shall be insured at cost). 

  

	10.1.3	 The required indemnities for the third-party liability insurance set forth in Clause 10.1.1 and the public
liability insurance set forth in 10.1.2 hereinabove shall be determined by the floor area of the Premises according to the following table: 

  

			
	Floor Area (GFA) of the Leased Unit	  	Minimum Indemnity per Accident (RMB)
		
	GFA < 100 m2	  	1,000,000.00,
		
	100 m2< GFA < 5 00 m2	  	3,000,000.00,
		
	500 m2< GFA < 2000 m2	  	6,000,000.00,
		
	2000 m2< GFA	  	6,000,000.00, with no limit on the cumulative amount of indemnities during the insurance period

  

	10.1.4	 The insurance policies must be issued by an insurance company of well repute, and the insurance period must be
the same as the Lease Term. The insurance policies shall bear a statement that the insurance may not be canceled, modified or restricted without the prior written consent of the Lessor. The Lessor shall have the right to require the Lessee to
designate the Lessor as the beneficiary or co-beneficiary of such insurance. The Lessee shall state in the insurance policies that the insurer waives its right to exercise subrogation against the Lessor. The
Lessee shall, within 15 days prior to the first day of the Lease Term, submit the proofs of the valid existence of the aforementioned insurances (such as the insurance policies and premiums payment vouchers) to the Lessor for review. During the
renovation period and the Lease Term, if the Lessee fails to provide a valid proof evidencing the purchase of insurance policies that meet the foregoing requirements, the Lessor may prohibit the Lessee from performing construction works or obtain
insurance on behalf of the Lessee with the premiums incurred to be borne by the Lessee. During the Lease Term, the Lessor may require the Lessee to provide proofs that the insurances remain in-force and
satisfy the requirements of this Contract at any time. 

  
 - 23 - 

 

 
  
 Breach of Insurance 

 

	10.2.1	 The Lessee shall not take, nor shall it allow any other person to take, any action that invalidates or may
invalidate the fire insurance, any other insurable risks or third party liability insurances (including insurances for losses or damages arising from third-party claims) of the Premises or the Building or leads to an increase in the premiums
thereof. 

  

	10.2.2	 If the premiums of such insurances increase due to any action or conduct of the Lessee, the Lessor shall,
without prejudice to any of its other rights and remedies, have the right to recover the increased insurance premiums as a result thereof from the Lessee. 

Chapter XI Special Clauses 

Compliance with Laws 
  

	11.1	 The Lessee’s business operations in the Premises and all other conducts and activities in the Building
(including in the Premises) shall observe, obey and comply with the laws and regulations of the PRC and the orders, regulations and requirements issued by the competent governmental authorities. In the event of any breach or violation, the Lessee
shall indemnify the Lessor for the damages it suffered therefrom. The Lessee must immediately notify the Lessor in writing upon the receipt of any notice from any governmental authorities regarding or affecting the Premises or the facilities
provided therein. 

 Rules and Regulations 
  

	11.2.1	 The Lessor reserves the right to formulate, introduce, amend, adopt or abolish any reasonable rules and
regulations from time to time as it deems necessary to operate and maintain the Building as a first-class commercial building. Such reasonable rules and regulations shall become effective upon the written notice by the Lessor to the Lessee.

  

	11.2.2	 The Lessee must observe and obey the rules and regulations and management conventions regarding the management
and control of the Building and the equipment, facilities and common parts of the Building, as formulated and amended from time to time by the Lessor or the Management Company. In the event of any violation,
non-compliance or non-performance, the Lessee must fully indemnify the Lessor against all the damages it suffered therefrom. 

 

	11.2.3	 The aforementioned rules and regulations are supplementary to this Contract but shall not prejudice the effect
of this Contract in any respect. Should there exist any inconsistency or conflict between such aforementioned rules and regulations and this Contract, the provisions of this Contract shall prevail. 

No Waiver 
  

	11.3	 If the Lessor exempts, forgives or neglects the Lessee’s breach,
non-compliance or non-performance of its obligations and responsibilities hereunder at any time, it shall not constitute the basis for the Lessor to waive its rights to
pursue any sustained or future breach, non-compliance or non-performance against the Lessee, nor shall it affect the Lessor’s rights and legal remedies against the
Lessee for any sustained or future breach, non-compliance or non-performance. Unless waived expressly in writing, none of the Lessor’s act or omission shall
constitute the Lessor’s waiver of the Lessee’s liabilities for any breach, non-compliance or non-performance. Any consent given by the Lessor

  
 - 24 - 

 

 
  

	 	to the Lessee shall only constitute the Lessor’s consent to the Lessee with respect to a particular event, and, unless expressed by the Lessor to such extent in writing, shall not constitute a waiver by the Lessor
not to pursue Lessee’s liabilities for, or to exempt the Lessee from performing, any clauses hereof, nor shall it be construed as the Lessor’s waiver of the consent requirement for similar events in the future. 

Right of First Refusal to Lease (Excluding applicable circumstances set forth in the “Right of Renewal” in Appendix 7 Special Provisions)

  

	11.4	 Upon the expiration of the Lease Term, the Lessor shall have the right to take back the Premises and the Lessee
will return the Premises as scheduled. If the Lessee intends to continue to lease the Premises, it shall re-negotiate the lease terms with the Lessor prior to the expiration of the Lease Term and enter into a
new lease contract. The Lessee agrees to waive its right of first refusal to lease the Premises on the same conditions with others. 

Visit to the Premises 
  

	11.5	 During the last six months of the Lease Term, the Lessee must permit the Lessor, with prior notice to the
Lessee, to allow the potential tenants or buyers of the Premises to inspect the Premises at reasonable times, and the Lessee must permit the Lessor to display “For Rent” posters for the Premises in such places as the Lessor deems fit, and
the Lessee shall not cover such postings. 

 Right of First Refusal to Purchase 

 

	11.6	 If the Lessor enters into a contract with any third party to sell the Premises during the Lease Term (the
Lessee hereby acknowledges the Lessor’s right of sale and expressly waives any right of first refusal to purchase), the Lessor shall cause the assignee of the Premises to undertake to assume and continue to perform all of the Lessor’s
obligations and liabilities hereunder, and the Lessor hereunder (Shanghai Xingqiao Real Estate Co., Ltd.) shall be novated to the name of the assignee. Thereafter, the liabilities of Shanghai Xingqiao Real Estate Co., Ltd. shall also cease.

 Sublease or Transfer 
  

	11.7.1	 The Lessee shall not assign, mortgage, sublet, lend or transfer the Premises or any part thereof, nor shall the
Lessee approve or permit any arrangement or transaction whereby any third party acquires the right to use, occupy or enjoy the Premises or any part thereof, whether or not such third party pays any rent or other consideration therefor. Upon the
occurrence of the foregoing (whether for cash or other considerations or not), without prejudice to any other rights and remedies the Lessor may have, the Lessor shall have the right to early terminate this Contract and the Lessee must vacate and
return the Premises to the Lessor immediately in accordance with the Lessor’s notice. 

  

	11.7.2	 The Lessee shall notify the Lessor at least twenty-one days in advance
of the Lessee’s intention to change its name. Meanwhile, the Lessee shall, at the request of the Lessor, provide reasonable evidence proving that the Lessee has not breached the provisions of Clause 11.7.1. 

  
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	11.7.3	 If the Lessee is a corporate legal person, the transfer of its equity leading to the direct or indirect
shareholding of Shanghai LianBio Development Co., Ltd. (上海联拓生物科技有限公司) in the Lessee fall below 50% without the written
consent of the Lessor shall be deemed as the Lessee’s breach of Clause 11.7.1. 

  

	11.7.4	 Where the Premises are to be used by a new company established by the Lessee, the Lessee must obtain the prior
written consent from the Lessor and provide the relevant materials evidencing that the new company is a wholly-owned subsidiary of the Lessee. The Lessor, the Lessee and the new company shall enter into a written agreement which provides that the
Lessee to this Contract shall be novated to the new company from the date of transfer as provided therein and the new company shall be entitled and subject to all of the Lessee’s rights and obligations hereunder. Accordingly, the Lessee shall
no longer be entitled and subject to the Lessee’s rights and obligations hereunder. All costs arising therefrom to be borne by either the Lessor or the Lessee or the new company (including, without limitation, expenses for registration of lease
changes (if any), stamp duties on the contract/agreement, notary fees (if any)) shall be borne by the new company, and the Lessee agrees to provide guarantee for the new company’s performance of its obligations hereunder on a joint and several
basis (with a guarantee period of three years from the expiration of the relevant performance period). 

 The Lessee shall,
within ten days from the establishment of the new company, submit to the Lessor copies of the following documents (affixed with corporate chop): 

Foreign-funded enterprises: SAMR name verification record, approval/filing certificates issued by the Foreign Investment Committee, business
license, ID document of members of the shareholders’ meeting, foreign exchange registration certificate, appointment letter and ID document of Board members/ executive director, ID document of the legal representative. 

Domestic enterprise: SAMR name verification record, business license, appointment letter and ID document of members of the shareholders’
meeting, ID document of the legal representative. 
 Intelligent Building Services 

 

	11.8	 The Lessee is fully aware of the plan for INNO PLUS (tentative name) intelligent building services (the
“Intelligent Building Services”) by Shanghai Shui On Club Business Management Co., Ltd. (上海瑞安荟企业管理有限公司)
(an affiliate of the Lessor’s group) or other designated affiliates of the Lessor. The Lessee hereby agrees to proactively cooperate with Shanghai Shui On Club Business Management Co., Ltd.
(上海瑞安荟企业管理有限公司) or other designated affiliates in their performance of the Intelligent Building Services without
qualification. 

 Chapter XII Interpretation and Miscellaneous 

Headings 
  

	12.1.1	 The headings and indices are for reference only and shall not constitute a part of this Contract, nor shall the
construction of this Contract take reference or be affected or restricted by any heading or index. 

  
 - 26 - 

 

 
  

	12.1.2	 The term “Lessee” as used herein shall, unless otherwise specified by the context, refer to the
Lessee and/or its assignees, successors, employees, constructers, agents, borrowers, contractors, customers, clients and any other persons affiliated with the Lessee (collectively as “Such Persons”), and accordingly, the prohibitions or
restrictions imposed on the Lessee hereunder shall also apply to Such Persons; the matters required to be performed and observed by the Lessee hereunder shall also be performed and observed by Such Persons; any willful or negligent act of Such
Persons shall be deemed as the willful or negligent act of the Lessee itself, and the Lessee shall be liable to fully indemnify the Lessor against the costs, expenses and losses of third parties to be borne by the Lessor as a result thereof. Any
provision hereof prohibiting the Lessee from taking or engaging in any activities shall also include the prohibition of the Lessee from approving, permitting or causing Such Persons to take or engage in such activities. 

 

	12.1.3	 If the payment due date provided herein (including the deadline of the reminders delivered by the Lessor in
accordance with this Contract) falls on Saturday, Sunday or other statutory holidays, the Lessor shall deliver the Lessee a payment notice ten business days in advance, and the Lessee shall pay the relevant amount by the first business day prior to
the payment due date. 

 If the first business day prior to the payment due date falls in the preceding month to such
payment due date, the Lessor shall deliver the Lessee a payment notice ten business days in advance, and the Lessee shall pay the relevant amount by the first business day following the payment due date. 

Notice 
  

	12.2.1	 The Lessee shall designate a contact person, which currently shall be Inge Zang, with the contact information
as follows: [***]. The contact person shall complete the filing procedures for signature specimen with the Lessor or the Management Company. The delivery by the Lessor of any document to such contact person shall be deemed as the delivery to the
Lessee, and any act of such contact person shall be deemed as the act of the Lessee itself. Upon any change of the Lessee’s contact person or the aforementioned information of such contact person, the Lessee shall promptly notify the Lessor in
writing and undergo the procedures for changing the signature specimen. Any losses arising from the Lessee’s failure to promptly notify the Lessor shall be borne by the Lessee. 

 

	12.2.2	 Any notice given by one Party to the other Party hereto, including, without limitation, any materials,
documents, information or notices to be given hereunder, shall be made in writing and delivered in person, by mail postage or courier or sent by fax to the contact addresses (the Lessee’s valid addresses shall include the address first above
written, the Premises and the correspondence address of its contact person) or contact person set forth in this Contract. The addresses, faxes or electronic communication methods provided herein shall also be the addresses for both Parties’
work correspondences, dispute resolution and service of legal documents of people’s courts and/or arbitration institutions, applicable to all arbitration and litigation stages, including the first instance, second instance, retrial and
enforcement. The service of litigation documents (including judgments or mediation documents) of people’s courts and/or arbitration institutions to the addresses, faxes or electronic communication methods of either Party provided herein shall
be deemed as validly delivered. The service to the prescribed addresses, faxes or electronic communication methods shall be deemed as delivered, the validity of which shall not be affected by the rejection of the recipient. 

  
 - 27 - 

 

 
  

	12.2.3	 Either Party shall, upon the change of its contact address or contact person, promptly notify the other Party
in writing. Any Party who fails to comply with the foregoing shall be liable for all consequences arising therefrom. 

  

	12.2.4	 Except as otherwise provided herein, any material, document or notice delivered or sent to the addresses set
forth herein shall be deemed as delivered on the following dates: 

  

	 	(1)	 If delivered by person, the date of the recipient’s signature for receipt; 

 

	 	(2)	 If sent by mail postage or courier, the third day after a postmark is affixed by the delivering postal office;

  

	 	(3)	 If sent by fax, the date on which such fax is sent; 

 

	 	(4)	 If sent by email, the earlier of the date on which the email first enters the recipient’s email system, or
the second day after the email is first sent by the sender. 

 Special Provisions 

 

	12.3	 The other terms agreed upon by the Parties are set forth in Appendix 7 “Special Provisions”.

 Entire Agreement 
  

	12.4	 This Contract shall constitute the entire agreement between the Lessor and the Lessee regarding the matters
covered herein and shall supersede all prior oral and written agreements regarding the matters provided herein. 

 Attorney’s Fee,
Stamp Duty 
  

	12.5	 The Lessor and the Lessee shall bear their respective attorney’s fees for the preparation and completion
of this Contract; the PRC stamp duties and PRC registration fees (if any) in connection with this Contract and its original and duplicate copies shall be borne equally by the Lessor and the Lessee. 

Supplemental Agreements 
  

	12.6.1	 The Lessor and the Lessee may enter into further supplemental agreements through consultation for matters not
covered herein, which shall have the same effect as this Contract. 

  

	12.6.2	 The special provisions set forth in Appendix 7 hereto are the supplement and amendment made by the Parties
hereto regarding the contents of the relevant provisions hereof, which have been confirmed and agreed by the Parties hereto and shall constitute an integral part hereof. In the event of any discrepancy between the Special Provisions in Appendix 7
and the main body of this Contract, the Special Provisions in Appendix 7 shall prevail. 

  
 - 28 - 

 

 
  
 Confidentiality 

 

	12.7	 The Parties agree to keep strict confidence of the terms and contents of this Contract and not to disclose the
same to any other party, except to their respective affiliates and professional consultants that are also subject to strict confidentiality obligations. Notwithstanding the foregoing, the Lessee agrees that: the Lessor’s disclosure of the terms
and contents of this Contract according to laws, the requirements of governmental authorities, the requests of its potential investment or financing partners or due diligence needs shall not be subject to the foregoing provision.

 Filing and Registration 
  

	12.8	 After the execution of this Contract, the Parties agree to fully cooperate with each other to complete the
registration formalities for this Contract with the housing management authority in Shanghai. The Lessee shall entrust the Lessor or its agent to handle the registration formalities and the cancelation formalities upon the termination of this
Contract with local real estate management authorities according to laws, and the Lessee shall be responsible for providing the Lessor with all the necessary documents required for such procedures and providing necessary assistance at the
Lessor’s request. 

 Laws 
  

	12.9	 This Contract shall be governed by and construed in accordance with the laws of the People’s Republic of
China. 

 Dispute Resolution 
  

	12.10	 Any dispute shall be resolved through consultation by the Parties. If the Parties fail to resolve the dispute
through consultation, either Party may initiate a lawsuit at the competent people’s court of the place where the Premises is located. 

Counterparts 
  

	12.11.1	 This Contract is written in Chinese. The English translation hereof (if any) shall be for reference only and
not constitute a part of this Contract. The construction of this Contract shall not take reference or be affected by such English translation. 

  

	12.11.2	 This Contract is executed in three counterparts, with one counterpart to be held by the Lessor, one counterpart
to be held by the Lessee, and one counterpart to be filed with the competent governmental authorities. 

 Execution 

 

	12.12	 This Contract shall become effective upon the execution by both Parties on the date first above written.

  
 - 29 - 

 

 
  
 Appendices 

Appendix 1 
 Parties
to the Contract 
  

			
	Lessor:	  	Shanghai Xingqiao Real Estate Co., Ltd., with its registered address at Room 2811, 150 Hubin Road, Shanghai, China 200021.
	Lessee:	  	 Shanghai LianBio Development Co., Ltd., with its registered address at 3F, Building 1, 400 Fangchun Road, China (Shanghai) Pilot Free Trade
Zone, China 201210.
 Tax Registration No.: [***]

 Appendix 2 

The Building and the Premises 
 Room
1601-1610 (the “Premises”), Corporate Avenue (the “Building”), No. 150 Hubin Road, Shanghai, China. 

  
 - 30 - 

 

 
  
 Appendix 3 

Floor Plan 

  
 - 31 - 

 

 
  
 Appendix 4 

Lease Term and Renovation Period 

Lease Term: 1,232 days, from November 16, 2021 (inclusive) to March 31, 2025 (inclusive). 

Renovation Period: 136 days, from November 16, 2021 (inclusive) to March 31, 2022 (inclusive). 

After the execution of this Contract and the Lessor’s receipt of the full security deposit and prepayment of one month’s Rent (calculated at
RMB10.86/day/m2 (floor area) * 31 days) and Management Fee plus the VAT thereof paid by the Lessee, the Lessor shall hand over the Premises to the Lessee no later than the first day of the Lease Term. 

  
 - 32 - 

 

 
  
 Appendix 5 

Rent, Management Fee, Security Deposit, Other Fees and Payment Methods 

Rent 
  

	(a)	 During the Lease Term, the Lessee must pay Rents on a monthly basis, and the monthly Rent payable and the VAT
thereof shall be paid on or before the 1st calendar day of each month. The Rent of the Premises shall be RMB10.86/day/m2 (excluding VAT); 

The Rent shall be calculated and charged based on the floor area of the Premises. 

 

	(b)	 Floor area: 2,313.46 m2 (the floor areas for each
room are as follows: Room 1601 is 288.62 m2; Room 1602 is 199.34 m2; Room 1603 is 216.83
m2; Room 1604 is 214.81 m2; Room 1605 is 206.03 m2; Room 1606 is 294.74 m2; Room 1607 is 197.83 m2; Room 1608 is 265.81 m2; Room 1609 is 214.64 m2; and Room 1610 is 214.81 m2). 

Fees During the Rent-Free Period 

During the rent-free period, the Lessee is not required to pay any Rent, but shall pay the Management Fee and other relevant fees (if any).

 Security Deposit 
  

	(a)	 The security deposit is as follows and shall be paid in accordance with Chapter VIII of this Contract:
RMB2,677,940.43 in aggregate, which is the sum of three months’ (where the number of days in one month is calculated by 365/12) Rents during the last year of the lease and three months’ Management Fees at the current rate, plus the
VAT on the aforementioned sum calculated at the current tax rate. 

  

	(b)	 The Lessee shall pay the security deposit within 7 business days after the execution of this Contract.

 Management Fee 
  

	(a)	 Management Fee payable per month (including use of air conditioning during normal work hours):

 Calculated at RMB36.80/month/m2 (floor area) (excluding VAT) 

 

	(b)	 During the renovation period, the Lessee is not required to pay any Rent, but shall pay 100% of the Management
Fee. 

  

	(c)	 During the Lease Term, the Lessee shall make payment on or before the 1st calendar day of each month.

  

	(d)	 The Management Fee may be adjusted in accordance with Clause 2.2 of Chapter II hereof, with the VAT to be
calculated based on such adjusted Management Fee. 

  
 - 33 - 

 

 
  
 Parking Space Fee 

 

	(a)	 During the Lease Term, the Lessor shall provide 5 free parking space to the Lessee. The lessee may use the
parking space as needed after providing a written application to the Lessor or the Management Company, and the number of parking space may be adjusted according to the written confirmation of both Parties. 

 

	(b)	 The management of the parking space shall be subject to the relevant rules and regulations formulated by the
Management Company. 

  

	(c)	 The Lessee shall pay parking space fees and the VAT thereof based on the actual number of parking space it has
used and shall comply with the rules and regulations on the use of the garage. The Lessor shall have the right to adjust the fee rates for parking space on an annual basis, and the discount rates shall be adjusted accordingly if the Lessor adjusts
the fee rates for parking space. 

 Overtime Air Conditioning Fee 

Air Conditioning Service Hours: 
 8:00 A.M. to 8:00 P.M., Monday
through Friday 
 (Excluding public holidays) 

If the Lessee needs additional air conditioning services, the Lessee shall bear additional fees and apply to the Management Company in advance,
and shall pay the overtime air conditioning fees and the VAT thereof according to the payable amounts specified in the payment notice issued pursuant to the price set forth in the Tenant Renovation Manual/Tenant Manual. The Lessor/Management Company
shall have the right to adjust the rates for overtime air conditioning fees according to actual situations, and the Lessee shall pay the relevant fees and the VAT thereof according to such adjusted fee rates. 

Fees during the Renovation Period (Charged by the Management Company) 
  

	(a)	 Supervision fee 

The Lessee or its renovation subcontractor shall hire its own supervision company and pay the supervision fees, which shall be paid according
to the percentage of the contract amount of the renovation contract as mutually agreed by the Parties then. 
  

	(b)	 Drawing review fee and construction coordination fee 

Drawing review fees and construction coordination fees will be charged at RMB10/m2 (floor
area), or at RMB2,000 if the total amount is less than RMB2,000. 
  

	(c)	 Waste removal fee and other relevant fees 

 

			
	Workers’ Deposit:	  	RMB100/worker;
		
	Cost of Workers’ Permit:	  	RMB10/worker;
		
	Waste Removal Fees:	  	To be charged at RMB12/m2 (floor area), or at RMB2,000 if the total amount is less than RMB2,000.

  
 - 34 - 

 

 
  

	(d)	 Renovation Deposit 

To be charged at RMB50/m2 (floor area), or at RMB20,000 if the total amount is less than
RMB20,000. The Lessee shall pay such deposit no later than the commencement of the renovation work. 
 The renovation deposit shall be
refunded to the Lessee without interest after 3 months from the date on which the Lessee has obtained the approval from the competent governmental authorities and the Management Company for the completion of the renovation of the Premises, after
deducting any losses caused during the renovation period (if any). 
 Payment Methods 

All payments to be made by the Lessee must be calculated and paid in RMB (including the Rent, Management Fee, security deposit and other fees payable) and
shall be remitted to the designated account via bank transfer. The Lessor does not accept any check or commercial draft from overseas banks. 
 Bank
Accounts (any change will be notified in writing) 
  

	(1)	 Bank Account of the Lessor 

Bank: [***] 
 Account Name: [***] 

Account No.: [***] 
 Note: The above bank account shall be used
to collect the Rent, Management Fee, utilities, overtime air conditioning fees, security deposit and other fees as notified by the Lessor. 
  

	(2)	 Bank Account of the Management Company 

Bank: [***] 
 Account Name: [***] 

Account No.: [***] 
 Note: The above bank account shall be used
to collect the relevant fees during the renovation period and other fees to be collected by the Management Company as notified by the Lessor. 

  
 - 35 - 

 

 
  
 Appendix 6 

List of Renovation and Facilities 
  

	1.	 Floor: Raised floor, no carpeting 

 

	2.	 Ceiling system: The Lessor shall provide the relevant materials according to open standards for the Lessee to
install pursuant to the approved renovation plans: 

  

			
	 •    Aluminum ceiling panels (Size: 1200X600; 1200X300; 600X300;
300X300)
	  	(Material only)
		
	 •    Raised floor (Size: 600X600)
	  	(Installed)
		
	 •    VAV air conditioning box
	  	(Installed)
		
	 •    Light panel with air conditioning outlet
	  	(Material only)
		
	 •    Smoke detector
	  	(Material only)
		
	 •    Sprinkler
	  	(Installed)
		
	 •    Electric sunshade roller blinds
	  	(Installed)
		
	 •    Entry door
	  	(Installed)

  
 - 36 - 

 

 
  
 Appendix 7 

Special Provisions 
  

	1.	 Right of Renewal 

  

	(1)	 The Lessee shall, subject to its observance and performance of the provisions of this Contract, have the right
to renew the lease of the Premises once for a period of three years (the “Renewed Lease Term”) upon the expiration of the Lease Term, provided that the Lessee shall deliver a written notice to the Lessor six months in advance (the
“Renewal Notice”). The rent during the Renewed Lease Term shall be adjusted according to the market price of the rent at that time, and the Parties shall use their best efforts to reach an agreement on the rent during the Renewed Lease
Term; 

  

	(2)	 If the Parties fail to reach an agreement on the rent for the Renewed Lease Term within 2 months after a Renew
Notice is delivered by the Lessee, or if the Lessee fails to give the Renew Notice on time, this Contract shall terminate upon the expiration of the Lease Term, in which case the Lessee shall be deemed to have waived its right of first lease to the
Premises and shall vacate and surrender the Premises as provided herein. 

  
 - 37 - 

 

 
  
 (This page is intentionally left
blank) 
 Lessor: Shanghai Xingqiao Real Estate Co., Ltd. 

Authorized Representative: 
 Signature and
Seal    /s/ Li Zhenhui 
 Execution Date: 2021.11.4 

Lessee: Shanghai LianBio Development Co., Ltd. 
 Authorized
Representative: 
 Signature and Seal:    /s/ Yizhe Wang 

Execution Date: 2021.11.4 

  
 - 38 - 

 

 
 ******************************************** 

Lease Contract for Office Building of Corporate Avenue 

******************************************** 

between 
 Shanghai
Xingqiao Real Estate Co., Ltd. 
 (the Lessor) 

and 
 Shanghai LianBio
Development Co., Ltd. 
 (the Lessee) 

Room 1601-1610, No. 150 Hubin Road, Shanghai 

 Table of Contents 

 

			
	Chapter I	  	The Premises and Other Use Rights
		
	Chapter II	  	Rent and Other Expenses
		
	Chapter III	  	Obligations of the Lessee
		
	Chapter IV	  	Obligations of the Lessor
		
	Chapter V	  	Exemptions
		
	Chapter VI	  	Reduction and Exemption of Rent
		
	Chapter VII	  	Breach and Indemnification
		
	Chapter VIII	  	Lessee’s Security Deposit
		
	Chapter IX	  	Renovation
		
	Chapter X	  	Insurance
		
	Chapter XI	  	Special Provisions
		
	Chapter XII	  	Interpretation and Miscellaneous
		
	Appendix 1	  	Parties to the Contract
		
	Appendix 2	  	The Building and the Premises
		
	Appendix 3	  	Floor Plan
		
	Appendix 4	  	Lease Term and Renovation Period
		
	Appendix 5	  	Rent, Management Fee, Security Deposit, Other Fees and Payment Methods
		
	Appendix 6	  	List of Renovation and Facilities
		
	Appendix 7	  	Special Provisions
	
	Signature PageExhibit 4.2

 

Antelope Enterprise Holdings Limited

 

 

 

INDENTURE

 

Dated as of [            ]

 

 

 

[            ]

 

 

 

TABLE OF CONTENTS

 

	 	 	Page
	 	ARTICLE I	 
	 	DEFINITIONS AND INCORPORATION BY REFERENCE	 
	Section 1.1	Definitions	1
	Section 1.2	Other Definitions	4
	Section 1.3	Incorporation by Reference of Trust Indenture Act	4
	Section 1.4	Rules of Construction	4
	 	 
	 	ARTICLE II	 
	 	THE SECURITIES	 
	 	 
	Section 2.1	Issuable in Series	5
	Section 2.2	Establishment of Terms of Series of Securities	5
	Section 2.3	Execution and Authentication	6
	Section 2.4	Registrar and Paying Agent	7
	Section 2.5	Paying Agent to Hold Money in Trust	8
	Section 2.6	Security Holder Lists	8
	Section 2.7	Transfer and Exchange	8
	Section 2.8	Mutilated, Destroyed, Lost and Stolen Securities	8
	Section 2.9	Outstanding Securities	9
	Section 2.10	Treasury Securities	9
	Section 2.11	Temporary Securities	10
	Section 2.12	Cancellation	10
	Section 2.13	Defaulted Interest	10
	Section 2.14	Global Securities	10
	Section 2.15	CUSIP Numbers	11
	 	 	 
	 	ARTICLE III	 
	 	REDEMPTION	 
	 	 	 
	Section 3.1	Notice to Trustee	11
	Section 3.2	Selection of Securities to be Redeemed	11
	Section 3.3	Notice of Redemption	12
	Section 3.4	Effect of Notice of Redemption	12
	Section 3.5	Deposit of Redemption Price	12
	Section 3.6	Securities Redeemed in Part	12

 

     

     

    

 

	 	ARTICLE IV	 
	 	COVENANTS	 
	 	 	 
	Section 4.1	Payment of Principal and Interest	13
	Section 4.2	SEC Reports	13
	Section 4.3	Compliance Certificate	13
	Section 4.4	Stay, Extension and Usury Laws	13
	Section 4.5	Corporate Existence	13
	 	 	 
	 	ARTICLE V	 
	 	SUCCESSORS	 
	 	 	 
	Section 5.1	When Company May Merge, Etc.	14
	Section 5.2	Successor Corporation Substituted	14
	 	 	 
	 	ARTICLE VI	 
	 	DEFAULTS AND REMEDIES	 
	 	 	 
	Section 6.1	Events of Default	14
	Section 6.2	Acceleration of Maturity; Rescission and Annulment	15
	Section 6.3	Collection of Indebtedness and Suits for Enforcement by Trustee	15
	Section 6.4	Trustee May File Proofs of Claim	16
	Section 6.5	Trustee May Enforce Claims Without Possession of Securities	17
	Section 6.6	Application of Money Collected	17
	Section 6.7	Limitation on Suits	17
	Section 6.8	Unconditional Right of Holders to Receive Principal and Interest	18
	Section 6.9	Restoration of Rights and Remedies	18
	Section 6.10	Rights and Remedies Cumulative	18
	Section 6.11	Delay or Omission Not Waiver	18
	Section 6.12	Control by Holders	18
	Section 6.13	Waiver of Past Defaults	19
	Section 6.14	Undertaking for Costs	19
	 	 	 
	 	ARTICLE VII	 
	 	TRUSTEE	 
	 	 	 
	Section 7.1	Duties of Trustee	19
	Section 7.2	Rights of Trustee	20
	Section 7.3	Force Majeure	21
	Section 7.4	Individual Rights of Trustee	21
	Section 7.5	Trustee’s Disclaimer	21
	Section 7.6	Notice of Defaults	21
	Section 7.7	Reports by Trustee to Holders	22
	Section 7.8	Compensation and Indemnity	22
	Section 7.9	Replacement of Trustee	23
	Section 7.10	Successor Trustee by Merger, etc.	23
	Section 7.11	Eligibility; Disqualification	23
	Section 7.12	Preferential Collection of Claims Against Company	23

 

	 	ARTICLE VIII	 
	 	SATISFACTION AND DISCHARGE; DEFEASANCE	 
	 	 	 
	Section 8.1	Satisfaction and Discharge of Indenture	24
	Section 8.2	Application of Trust Funds; Indemnification	24
	Section 8.3	Legal Defeasance of Securities of any Series	25
	Section 8.4	Covenant Defeasance	26
	Section 8.5	Repayment to Company	27

 

     

     

    

 

	 	ARTICLE IX	 
	 	SUPPLEMENTAL INDENTURES, AMENDMENTS AND WAIVERS	 
	 	 
	Section 9.1	Without Consent of Holders	27
	Section 9.2	With Consent of Holders	27
	Section 9.3	Limitations	28
	Section 9.4	Compliance with Trust Indenture Act	28
	Section 9.5	Revocation and Effect of Consents	28
	Section 9.6	Notation on or Exchange of Securities	29
	Section 9.7	Trustee Protected	29
	 	 
	 	ARTICLE X	 
	 	MISCELLANEOUS	 
	 	 
	Section 10.1	Trust Indenture Act Controls	29
	Section 10.2	Notices	29
	Section 10.3	Communication by Holders with Other Holders	30
	Section 10.4	Certificate and Opinion as to Conditions Precedent	30
	Section 10.5	Statements Required in Certificate or Opinion	30
	Section 10.6	Rules by Trustee and Agents	30
	Section 10.7	Legal Holidays	30
	Section 10.8	No Recourse Against Others	30
	Section 10.9	Counterparts	31
	Section 10.10	Governing Laws	31
	Section 10.11	No Adverse Interpretation of Other Agreements	31
	Section 10.12	Successors	31
	Section 10.13	Severability	31
	Section 10.14	Table of Contents, Headings, Etc.	31
	Section 10.15	Securities in a Foreign Currency or in ECU	31
	Section 10.16	Judgment Currency	32
	 	 	 
	 	ARTICLE XI	 
	 	SINKING FUNDS	 
	 	 	 
	Section 11.1	Applicability of Article	32
	Section 11.2	Satisfaction of Sinking Fund Payments with Securities	33
	Section 11.3	Redemption of Securities for Sinking Fund	33

 

     

     

    

 

Form of Indenture

 

Indenture dated as of [   ] between
Antelope Enterprise Holdings Limited, an exempted company incorporated in the British Virgin Islands (“Company”), and [  ]
(“Trustee”). Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the
Holders of the Securities issued under this Indenture.

 

 

 

ARTICLE I

 

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.1         Definitions.

 

“Additional Amounts” means
any additional amounts which are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the
Company in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such Holders.

 

“Affiliate” of any specified
person means any other person directly or indirectly controlling or controlled by or under common control with such specified person.
For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by”
and “under common control with”), as used with respect to any person, shall mean the possession, directly or indirectly, of
the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities
or by agreement or otherwise.

 

“Agent” means any Registrar,
Paying Agent or Notice Agent.

 

“Board of Directors” means
the Board of Directors of the Company or any duly authorized committee thereof.

 

“Board Resolution” means a
copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been adopted by the Board of Directors
or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered
to the Trustee.

 

“Business Day” means, unless
otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for a particular Series, any day
except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law,
regulation or executive order to close or a day the Corporate Trust Office is closed.

 

“Capital Stock” means any and
all shares, interests, participations, rights or other equivalents (however designated) of corporate stock.

 

“Company” means the party named
as such above until a successor replaces it and thereafter means the successor.

 

“Company Order” means a written
order signed in the name of the Company by two Officers, one of whom must be the Company’s principal executive officer, principal
financial officer or principal accounting officer.

 

“Company Request” means a written
request signed in the name of the Company by its Chairman, its Chief Executive Officer, or any Vice President and by its Chief Financial
Officer and delivered to the Trustee.

 

“Corporate Trust Office” means
the office of the Trustee at which at any particular time its corporate trust business shall be principally administered.

 

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

 

     

     

    

 

“Depositary” means, with respect
to the Securities of any Series issuable or issued in whole or in part in the form of one or more Global Securities, the person designated
as Depositary for such Series by the Company, which Depositary shall be a clearing agency registered under the Exchange Act; and
if at any time there is more than one such person, “Depositary” as used with respect to the Securities of any Series shall
mean the Depositary with respect to the Securities of such Series.

 

“Discount Security” means any
Security that provides for an amount less than the stated principal amount thereof to be due and payable upon declaration of acceleration
of the maturity thereof pursuant to Section 6.2.

 

“Dollars” and “$”
means the currency of The United States of America.

 

“ECU” means the European Currency
Unit as determined by the Commission of the European Union.

 

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

 

“Foreign Currency” means any
currency or currency unit issued by a government other than the government of The United States of America.

 

“Foreign Government Obligations”
means, with respect to Securities of any Series that are denominated in a Foreign Currency, (i) direct obligations of the government
that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged or (ii) obligations
of a person controlled or supervised by or acting as an agency or instrumentality of such government the timely payment of which is unconditionally
guaranteed as a full faith and credit obligation by such government, which, in either case under clauses (i) or (ii), are not
callable or redeemable at the option of the issuer thereof.

 

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

 

“Global Security” or “Global
Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.2 evidencing
all or part of a Series of Securities, issued to the Depositary for such Series or its nominee, and registered in the name of
such Depositary or nominee.

 

“Holder” or “Security
Holder” means a person in whose name a Security is registered.

 

“Indenture” means this Indenture
as amended or supplemented from time to time and shall include the form and terms of particular Series of Securities established
as contemplated hereunder.

 

“interest” with respect to
any Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity.

 

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

 

“Officer” means the Chairman,
the Chief Executive Officer, any Vice President, or the Chief Financial Officer of the Company.

 

“Officers’ Certificate”
means a certificate signed by two Officers, one of whom must be the Company’s principal executive officer, principal financial officer
or principal accounting officer.

 

“Opinion of Counsel” means
a written opinion of legal counsel, which opinion, is acceptable to the Trustee. The counsel may be an employee of or counsel to the Company.

 

    2 

     

    

 

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

 

“principal” of a Security means
the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in respect of, the Security.

 

“Responsible Officer” means
any officer of the Trustee in its Corporate Trust Office and also means, with respect to a particular corporate trust matter, any other
officer to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with a particular subject and
who shall in each case have direct responsibility for the administration of this Indenture.

 

“SEC” means the Securities
and Exchange Commission.

 

“Securities” means the debentures,
notes or other debt instruments of the Company of any Series authenticated and delivered under this Indenture.

 

“Series” or “Series of
Securities” means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.1
and 2.2 hereof.

 

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

 

“Subsidiary” of any specified
person means any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital
Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof
is at the time owned or controlled, directly or indirectly, by such person or one or more of the other Subsidiaries of that person or
a combination thereof.

 

“TIA” means the Trust Indenture
Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as in effect on the date of this Indenture; provided, however, that in the event
the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the
Trust Indenture Act as so amended.

 

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

 

“U.S. Government Obligations”
means securities which are (i) direct obligations of The United States of America for the payment of which its full faith and credit
is pledged or (ii) obligations of a person controlled or supervised by and acting as an agency or instrumentality of The United States
of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by The United States of America, and
which in the case of (i) and (ii) are not callable or redeemable at the option of the issuer thereof, and shall also include
a depository receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific
payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository
receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the
holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by
such depository receipt.

 

    3 

     

    

 

Section 1.2         Other
Definitions.

 

	TERM	 	DEFINED IN SECTION
	“Bankruptcy Law”	 	6.1
	“Custodian”	 	6.1
	“Event of Default”	 	6.1
	“Journal”	 	10.15
	“Judgment Currency”	 	10.16
	“Legal Holiday”	 	10.7
	“mandatory sinking fund payment”	 	11.1
	“Market Exchange Rate”	 	10.15
	“New York Banking Day”	 	10.16
	“Notice Agent”	 	2.4
	“optional sinking fund payment”	 	11.1
	“Paying Agent”	 	2.4
	“Registrar”	 	2.4
	“Required Currency”	 	10.16
	“successor person”	 	5.1

 

Section 1.3         Incorporation
by Reference of Trust Indenture Act.

 

Whenever this Indenture refers to a provision
of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture
have the following meanings:

 

“Commission” means the SEC.

 

“indenture securities” means
the Securities.

 

“indenture security holder”
means a Security Holder.

 

“indenture to be qualified”
means this Indenture.

 

“indenture trustee” or “institutional
trustee” means the Trustee.

 

“obligor” on the indenture
securities means the Company and any successor obligor upon the Securities.

 

All other terms used in this Indenture that are
defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under the TIA and not otherwise defined herein
are used herein as so defined.

 

Section 1.4         Rules of
Construction.

 

Unless the context otherwise requires:

 

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

 

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

 

		(c)	“or”
is not exclusive;

 

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

 

		(e)	provisions
apply to successive events and transactions.

 

    4 

     

    

 

ARTICLE II

 

THE SECURITIES

 

Section 2.1          Issuable
in Series.

 

The aggregate principal amount of Securities that
may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities
of a Series shall be identical except as may be set forth or determined in the manner provided in a Board Resolution, supplemental
indenture or Officers’ Certificate detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution.
In the case of Securities of a Series to be issued from time to time, the Board Resolution, Officers’ Certificate or supplemental
indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the method
by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined.
Securities may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and
ratably entitled to the benefits of the Indenture.

 

Section 2.2          Establishment
of Terms of Series of Securities.

 

At or prior to the issuance of any Securities
within a Series, the following shall be established (as to the Series generally, in the case of Subsection 2.2(a) and either
as to such Securities within the Series or as to the Series generally in the case of Subsections 2.2(b) through 2.2(u))
by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board Resolution or Officers’ Certificate,
and associated supplemental indenture:

 

(a)         the
title of the Series (which shall distinguish the Securities of that particular Series from the Securities of any other Series);

 

(b)         the
price or prices (expressed as a percentage of the principal amount thereof) at which the Securities of the Series will be issued;

 

(c)         any
limit upon the aggregate principal amount of the Securities of the Series which may be authenticated and delivered under this Indenture
(except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities
of the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6);

 

(d)         the
date or dates on which the principal of the Securities of the Series is payable;

 

(e)         the
rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates (including,
but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall
bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or dates on which such interest, if
any, shall commence and be payable and any regular record date for the interest payable on any interest payment date;

 

(f)          the
place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the Securities
of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in
respect of the Securities of such Series and this Indenture may be served, and the method of such payment, if by wire transfer, mail
or other means;

 

(g)         if
applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the Securities of
the Series may be redeemed, in whole or in part, at the option of the Company;

 

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

 

    5 

     

    

 

(i)          the
dates, if any, on which and the price or prices at which the Securities of the Series will be repurchased by the Company at the option
of the Holders thereof and other detailed terms and provisions of such repurchase obligations;

 

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

 

(k)         the
forms of the Securities of the Series and whether the Securities will be issuable as Global Securities;

 

(l)          if
other than the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall be payable
upon declaration of acceleration of the maturity thereof pursuant to Section 6.2;

 

(m)        the
currency of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, including, but not limited to,
the ECU, and if such currency of denomination is a composite currency other than the ECU, the agency or organization, if any, responsible
for overseeing such composite currency;

 

(n)         the
designation of the currency, currencies or currency units in which payment of the principal of and interest, if any, on the Securities
of the Series will be made;

 

(o)         if
payments of principal of or interest, if any, on the Securities of the Series are to be made in one or more currencies or currency
units other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect to such payments
will be determined;

 

(p)         the
manner in which the amounts of payment of principal of or interest, if any, on the Securities of the Series will be determined, if
such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index,
stock exchange index or financial index;

 

(q)         the
provisions, if any, relating to any security provided for the Securities of the Series;

 

(r)          any
addition to or change in the Events of Default which applies to any Securities of the Series and any change in the right of the Trustee
or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.2;

 

(s)         any
addition to or change in the covenants set forth in Articles IV or V which applies to Securities of the Series;

 

(t)          any
other terms of the Securities of the Series (which may supplement, modify or delete any provision of this Indenture insofar as it
applies to such Series); and

 

(u)         any
depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities of such Series if
other than those appointed herein.

 

All Securities of any one Series need not
be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant
to the Board Resolution, supplemental indenture hereto or Officers’ Certificate referred to above.

 

Section 2.3           Execution
and Authentication.

 

Two Officers shall sign the Securities for the
Company by manual or facsimile signature.

 

    6 

     

    

 

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

 

A Security shall not be valid until authenticated
by the manual or facsimile signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security
has been authenticated under this Indenture.

 

The Trustee shall at any time, and from time to
time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto
or Officers’ Certificate, upon receipt by the Trustee of a Company Order. Each Security shall be dated the date of its authentication
unless otherwise provided by a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate.

 

The aggregate principal amount of Securities of
any Series outstanding at any time may not exceed any limit upon the maximum principal amount for such Series set forth in the
Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section 2.2, except as provided
in Section 2.8.

 

Prior to the issuance of Securities of any Series,
the Trustee shall have received and (subject to Section 7.2) shall be fully protected in relying on: (a) the Board Resolution,
supplemental indenture hereto or Officers’ Certificate establishing the form of the Securities of that Series or of Securities
within that Series and the terms of the Securities of that Series or of Securities within that Series, (b) an Officers’
Certificate complying with Section 10.4, and (c) an Opinion of Counsel complying with Section 10.4.

 

The Trustee shall have the right to decline to
authenticate and deliver any Securities of such Series: (a) if the Trustee, being advised by counsel, determines that such action
may not be taken lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust
committee of directors and/or vice-presidents shall determine that such action would expose the Trustee to personal liability to Holders
of any then outstanding Series of Securities.

 

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

 

Section 2.4         Registrar
and Paying Agent.

 

The Company shall maintain, with respect to each
Series of Securities, at the place or places specified with respect to such Series pursuant to Section 2.2, an office or
agency where Securities of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities
of such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where notices and demands
to or upon the Company in respect of the Securities of such Series and this Indenture may be delivered (“Notice Agent”).
The Trustee or Notice Agent, as applicable, shall deliver such notices and demands to the Company in accordance with Section 10.2
hereof. The Registrar shall keep a register with respect to each Series of Securities and to their transfer and exchange. The Company
will give prompt written notice to the Trustee of the name and address, and any change in the name or address, of each Registrar, Paying
Agent or Notice Agent. If at any time the Company shall fail to maintain any such required Registrar, Paying Agent or Notice Agent or
shall fail to furnish the Trustee with the name and address thereof, such presentations, surrenders, notices and demands may be made or
delivered at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations,
surrenders, notices and demands.

 

The Company may also from time to time designate
one or more co-registrars, additional paying agents or notice agents and may from time to time rescind such designations; provided, however,
that no such designation or rescission shall in any manner relieve the Company of its obligations to maintain a Registrar, Paying Agent
and Notice Agent in each place so specified pursuant to Section 2.2 for Securities of any Series for such purposes. The Company
will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name or address of any such
co-registrar, additional paying agent or notice agent. The term “Registrar” includes any co-registrar; the term “Paying
Agent” includes any additional paying agent; and the term “Notice Agent” includes any additional notice agent.

 

    7 

     

    

 

The Company hereby appoints the Trustee the initial
Registrar, Paying Agent and Notice Agent for each Series unless another Registrar, Paying Agent or Notice Agent, as the case may
be, is appointed prior to the time Securities of that Series are first issued.

 

The Company hereby appoints The Depository Trust
Company to act as Depositary with respect to the Securities.

 

Section 2.5         Paying
Agent to Hold Money in Trust.

 

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

 

Section 2.6         Security
Holder Lists.

 

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

 

Section 2.7         Transfer
and Exchange.

 

Where Securities of a Series are presented
to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Securities
of the same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met.
To permit registrations of transfers and exchanges, the Trustee shall authenticate Securities upon receipt of a Company Order. No service
charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may
require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than
any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6).

 

Neither the Company nor the Registrar shall be
required (a) to issue, register the transfer of, or exchange Securities of any Series for the period beginning at the opening
of business fifteen days immediately preceding the mailing of a notice of redemption of Securities of that Series selected for redemption
and ending at the close of business on the day of such mailing, or (b) to register the transfer of or exchange Securities of any
Series selected, called or being called for redemption as a whole or the portion being redeemed of any such Securities selected,
called or being called for redemption in part.

 

Section 2.8         Mutilated,
Destroyed, Lost and Stolen Securities.

 

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

 

    8 

     

    

 

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

 

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

 

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

 

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

 

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

 

Section 2.9         Outstanding
Securities.

 

The Securities outstanding at any time are all
the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions
in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as
not outstanding.

 

If a Security is replaced pursuant to Section 2.8,
it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser.

 

If the Paying Agent (other than the Company, a
Subsidiary of the Company or an Affiliate of the Company) holds on the Maturity of Securities of a Series money sufficient to pay
such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest
on them ceases to accrue.

 

A Security does not cease to be outstanding because
the Company or an Affiliate of the Company holds the Security.

 

In determining whether the Holders of the requisite
principal amount of outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder,
the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal
thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity thereof
pursuant to Section 6.2.

 

Section 2.10       Treasury
Securities.

 

In determining whether the Holders of the required
principal amount of Securities of a Series have concurred in any request, demand, authorization, direction, notice, consent or waiver,
Securities of a Series owned by the Company or any Affiliate of the Company shall be disregarded, except that for the purposes of
determining whether the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or
waiver only Securities of a Series that the Trustee knows are so owned shall be so disregarded.

 

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Section 2.11       Temporary
Securities.

 

Until definitive Securities are ready for delivery,
the Company may prepare and the Trustee, upon receipt of a Company Order, shall authenticate temporary Securities upon a Company Order.
Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate
for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee, upon receipt of a Company Order, shall
authenticate definitive Securities of the same Series and date of maturity in exchange for temporary Securities. Until so exchanged,
temporary securities shall have the same rights under this Indenture as the definitive Securities.

 

Section 2.12       Cancellation.

 

The Company at any time may deliver Securities
to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for
registration of transfer, exchange or payment. Upon receipt of written instruction from the Company, the Trustee shall cancel all Securities
surrendered for transfer, exchange, payment, replacement or cancellation and shall destroy such canceled Securities and deliver a certificate
of such destruction to the Company, unless the Company otherwise directs. The Company may not issue new Securities to replace Securities
that it has paid or delivered to the Trustee for cancellation.

 

Section 2.13       Defaulted
Interest.

 

If the Company defaults in a payment of interest
on a Series of Securities, it shall pay the defaulted interest, plus, to the extent permitted by law, any interest payable on the
defaulted interest, to the persons who are Security Holders of the Series on a subsequent special record date. The Company shall
fix the record date and payment date. At least 10 days before the record date, the Company shall mail to the Trustee and to each
Security Holder of the Series a notice that states the record date, the payment date and the amount of interest to be paid. The Company
may pay defaulted interest in any other lawful manner.

 

Section 2.14       Global
Securities.

 

(a)        Terms
of Securities. A Board Resolution, a supplemental indenture hereto or an Officers’ Certificate shall establish whether the Securities
of a Series shall be issued in whole or in part in the form of one or more Global Securities and the Depositary for such Global Security
or Securities.

 

(b)        Transfer
and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.7 of the Indenture and in addition thereto,
any Global Security shall be exchangeable pursuant to Section 2.7 of the Indenture for Securities registered in the names of Holders
other than the Depositary for such Security or its nominee only if (i) such Depositary notifies the Company that it is unwilling
or unable to continue as Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency registered
under the Exchange Act, and, in either case, the Company fails to appoint a successor Depositary registered as a clearing agency under
the Exchange Act within 90 days of such event or (ii) the Company executes and delivers to the Trustee an Officers’ Certificate
to the effect that such Global Security shall be so exchangeable. Any Global Security that is exchangeable pursuant to the preceding sentence
shall be exchangeable for Securities registered in such names as the Depositary shall direct in writing in an aggregate principal amount
equal to the principal amount of the Global Security with like tenor and terms.

 

Except as provided in this Section 2.14(b),
a Global Security may not be transferred except as a whole by the Depositary with respect to such Global Security to a nominee of such
Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary or any such
nominee to a successor Depositary or a nominee of such a successor Depositary.

 

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

 

    10 

     

    

 

(c)        Legend.
Any Global Security issued hereunder shall bear a legend in substantially the following form:

 

“This Security is a Global Security within
the meaning of the Indenture hereinafter referred to and is registered in the name of the Depositary or a nominee of the Depositary. This
Security is exchangeable for Securities registered in the name of a person other than the Depositary or its nominee only in the limited
circumstances described in the Indenture, and may not be transferred except as a whole by the Depositary to a nominee of the Depositary,
by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor
Depositary or a nominee of such a successor Depositary.”

 

(d)        Acts
of Holders. The Depositary, as a Holder, may appoint agents and otherwise authorize participants to give or take any request, demand,
authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture.

 

(e)        Payments.
Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.2, payment of the
principal of and interest, if any, on any Global Security shall be made to the Holder thereof.

 

(f)         Consents,
Declaration and Directions. Except as provided in Section 2.14(e), the Company, the Trustee and any Agent shall treat a person
as the Holder of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified
in a written statement of the Depositary with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers
or directions required to be given by the Holders pursuant to this Indenture.

 

Section 2.15       CUSIP
Numbers.

 

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

 

ARTICLE III

 

REDEMPTION

 

Section 3.1         Notice
to Trustee.

 

The Company may, with respect to any Series of
Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and pay the Series of Securities
or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities. If a Series of
Securities is redeemable and the Company wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the Series of
Securities pursuant to the terms of such Securities, it shall notify the Trustee of the redemption date and the principal amount of Series of
Securities to be redeemed. The Company shall give the Trustee notice at least 45 days before the redemption date (or such shorter
notice as may be acceptable to the Trustee).

 

Section 3.2         Selection
of Securities to be Redeemed.

 

Unless otherwise indicated for a particular Series by
a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, if less than all the Securities of a Series are
to be redeemed, the Trustee shall select the Securities of the Series to be redeemed in any manner that the Trustee deems fair and
appropriate and in accordance with its customary practices or the selection shall be in accordance with DTC procedures, as applicable.
The Trustee shall make the selection from Securities of the Series outstanding not previously called for redemption. The Trustee
may select for redemption portions of the principal of Securities of the Series that have denominations larger than $1,000. Securities
of the Series and portions of them it selects shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to Securities
of any Series issuable in other denominations pursuant to Section 2.2(j), the minimum principal denomination for each Series and
integral multiples thereof. Provisions of this Indenture that apply to Securities of a Series called for redemption also apply to
portions of Securities of that Series called for redemption.

 

    11 

     

    

 

Section 3.3              Notice
of Redemption.

 

Unless otherwise indicated for a particular Series by
Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, at least 30 days but not more than 60 days
before a redemption date, the Company shall mail a notice of redemption by first-class mail to each Holder whose Securities are to be
redeemed.

 

The notice shall identify the Securities of the
Series to be redeemed and shall state:

 

(a)            the
redemption date;

 

(b)           the
redemption price;

 

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

 

(d)           that
Securities of the Series called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

(e)           that
interest on Securities of the Series called for redemption ceases to accrue on and after the redemption date;

 

(f)            the
CUSIP number, if any; and

 

(g)           any
other information as may be required by the terms of the particular Series or the Securities of a Series being redeemed.

 

At the Company’s request, the Trustee shall
give the notice of redemption prepared by the Company, in the Company’s name and at its expense.

 

Section 3.4             Effect
of Notice of Redemption.

 

Once notice of redemption is mailed or published
as provided in Section 3.3, Securities of a Series called for redemption become due and payable on the redemption date and at
the redemption price. A notice of redemption may not be conditional. Upon surrender to the Paying Agent, such Securities shall be paid
at the redemption price plus accrued interest to the redemption date.

 

Section 3.5             Deposit
of Redemption Price.

 

On or before the redemption date, the Company
shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to
be redeemed on that date.

 

Section 3.6             Securities
Redeemed in Part.

 

Upon surrender of a Security that is redeemed
in part, the Trustee, upon receipt of a Company Order, shall authenticate for the Holder a new Security of the same Series and the
same maturity equal in principal amount to the unredeemed portion of the Security surrendered.

 

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ARTICLE IV

 

COVENANTS

 

Section 4.1         Payment
of Principal and Interest.

 

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

 

Section 4.2         SEC
Reports.

 

The Company shall deliver to the Trustee within
15 days after it files them with the SEC copies of the annual reports and of the information, documents, and other reports (or copies
of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the Company is required to file
with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company also shall comply with the other provisions of
TIA § 314(a).

 

Section 4.3         Compliance
Certificate.

 

The Company shall deliver to the Trustee, within
120 days after the end of each fiscal year (which on the date hereof ends on December 31) of the Company, an Officers’
Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made
under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled
its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his/her
knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default
in the performance or observance of any of the terms, provisions and conditions hereof (or, if a Default or Event of Default shall have
occurred, describing all such Defaults or Events of Default of which he may have knowledge).

 

The Company will, so long as any of the Securities
are outstanding, deliver to the Trustee, forthwith upon becoming aware of any Default or Event of Default, an Officers’ Certificate
specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto.

 

Section 4.4         Stay,
Extension and Usury Laws.

 

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

 

Section 4.5         Corporate
Existence.

 

Subject to Article V, the Company will do
or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and the rights (charter
and statutory), licenses and franchises of the Company; provided, however, that the Company shall not be required to preserve any such
right, license or franchise if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct
of the business of the Company and its Subsidiaries taken as a whole and that the loss thereof is not adverse in any material respect
to the Holders.

 

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ARTICLE V

 

SUCCESSORS

 

Section 5.1           When
Company May Merge, Etc.

 

The Company shall not consolidate with or merge
with or into, or convey, transfer or lease all or substantially all of its properties and assets to, any person (a “successor person”)
unless:

 

(a)         the
Company is the surviving corporation or the successor person (if other than the Company) is a corporation organized and validly existing
under the laws of any U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the Securities and under this
Indenture and

 

(b)         immediately
after giving effect to the transaction, no Default or Event of Default, shall have occurred and be continuing.

 

The Company shall deliver to the Trustee prior
to the consummation of the proposed transaction an Officers’ Certificate to the foregoing effect and an Opinion of Counsel stating
that the proposed transaction and any supplemental indenture comply with this Indenture.

 

Notwithstanding the above, any Subsidiary of the
Company may consolidate with, merge into or transfer all or part of its properties to the Company. Neither an Officers’ Certificate
nor an Opinion of Counsel shall be required to be delivered in connection therewith.

 

Section 5.2           Successor
Corporation Substituted.

 

Upon any consolidation or merger, or any sale,
lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.1, the
successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, lease, conveyance
or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this
Indenture with the same effect as if such successor person has been named as the Company herein; provided, however, that the predecessor
Company in the case of a sale, conveyance or other disposition (other than a lease) shall be released from all obligations and covenants
under this Indenture and the Securities.

 

ARTICLE VI

 

DEFAULTS AND REMEDIES

 

Section 6.1           Events
of Default.

 

“Event of Default,” wherever
used herein with respect to Securities of any Series, means any one of the following events, unless in the establishing Board Resolution,
supplemental indenture or Officers’ Certificate, it is provided that such Series shall not have the benefit of said Event of
Default:

 

(a)         default
in the payment of any interest on any Security of that Series when it becomes due and payable, and continuance of such default for
a period of 30 days (unless the entire amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior
to the expiration of such period of 30 days); or

 

(b)         default
in the payment of principal of any Security of that Series at its Maturity; or

 

(c)         default
in the performance or breach of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty that has
been included in this Indenture solely for the benefit of Series of Securities other than that Series), which default continues uncured
for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and
the Trustee by the Holders of at least 25% in principal amount of the outstanding Securities of that Series a written notice specifying
such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or

 

(d)         the
Company pursuant to or within the meaning of any Bankruptcy Law:

 

(i)            commences
a voluntary case,

 

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

 

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

 

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

 

(v)           generally
is unable to pay its debts as the same become due; or

 

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

 

(i)            is
for relief against the Company in an involuntary case,

 

(ii)           appoints
a Custodian of the Company or for all or substantially all of its property, or

 

(iii)          orders
the liquidation of the Company,

 

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

 

(f)            any
other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental indenture
hereto or an Officers’ Certificate, in accordance with Section 2.2(r).

 

The term “Bankruptcy Law” means title
11, U.S. Code or any similar Federal or State law for the relief of debtors. The term “Custodian” means any receiver, trustee,
assignee, liquidator or similar official under any Bankruptcy Law.

 

Section 6.2             Acceleration
of Maturity; Rescission and Annulment.

 

If an Event of Default with respect to Securities
of any Series at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.1(d) or
(e)) then in every such case the Trustee or the Holders of not less than 25% in principal amount of the outstanding Securities of that
Series may declare the principal amount (or, if any Securities of that Series are Discount Securities, such portion of the principal
amount as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities of that
Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon
any such declaration such principal amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately due
and payable. If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified
amount) of and accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto become and be immediately due and payable
without any declaration or other act on the part of the Trustee or any Holder.

 

At any time after such a declaration of acceleration
with respect to any Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee
as hereinafter in this Article provided, the Holders of a majority in principal amount of the outstanding Securities of that Series,
by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if all Events of Default
with respect to Securities of that Series, other than the non-payment of the principal and interest, if any, of Securities of that Series which
have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13.

 

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

 

Section 6.3             Collection
of Indebtedness and Suits for Enforcement by Trustee.

 

The Company covenants that if

 

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

 

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(b)           default
is made in the payment of principal of any Security at the Maturity thereof, or

 

(c)            default
is made in the deposit of any sinking fund payment when and as due by the terms of a Security,

 

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

 

If the Company fails to pay such amounts forthwith
upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection
of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company
or any other obligor upon such Securities and collect the moneys adjudged or deemed to be payable in the manner provided by law out of
the property of the Company or any other obligor upon such Securities, wherever situated.

 

Notwithstanding any other provision of this Indenture,
if an Event of Default with respect to any Securities of any Series occurs and is continuing, the Trustee may in its discretion proceed
to protect and enforce its rights and the rights of the Holders of Securities of such Series by pursuing any available remedy by
proceeding at law or in equity as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific
enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other
proper remedy.

 

Section 6.4             Trustee
May File Proofs of Claim.

 

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

 

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

 

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

 

and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments
to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the
Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel,
and any other amounts due the Trustee under Section 7.8.

 

Nothing herein contained shall be deemed to authorize
the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment
or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim
of any Holder in any such proceeding.

 

    16 

     

    

 

Section 6.5             Trustee
May Enforce Claims Without Possession of Securities.

 

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

 

Section 6.6             Application
of Money Collected.

 

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

 

First: To the payment of all amounts
due the Trustee under Section 7.8; and

 

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

 

Third: To the Company or to such party
as a court of competent jurisdiction shall direct.

 

Section 6.7             Limitation
on Suits.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    17 

     

    

 

Section 6.8             Unconditional
Right of Holders to Receive Principal and Interest.

 

Notwithstanding any other provision in this Indenture,
the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest,
if any, on such Security on the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the
redemption date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent
of such Holder.

 

Section 6.9             Restoration
of Rights and Remedies.

 

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

 

Section 6.10           Rights
and Remedies Cumulative.

 

Except as otherwise provided with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.8, no right or remedy herein conferred upon
or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall,
to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing
at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent
permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 6.11           Delay
or Omission Not Waiver.

 

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

 

Section 6.12           Control
by Holders.

 

The Holders of not less than a majority in principal
amount of the outstanding Securities of any Series shall have the right to direct the time, method and place of conducting any proceeding
for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of
such Series, provided that

 

(a)            such
direction shall not be in conflict with any rule of law or with this Indenture,

 

(b)            the
Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and

 

(c)            subject
to the provisions of Section 7.1, the Trustee shall have the right to decline to follow any such direction if the Trustee in good
faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal
liability.

 

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Section 6.13            Waiver
of Past Defaults.

 

The Holders of not less than a majority in principal
amount of the outstanding Securities of any Series may on behalf of the Holders of all the Securities of such Series waive any
past Default hereunder with respect to such Series and its consequences, except a Default in the payment of the principal of or interest
on any Security of such Series (provided, however, that the Holders of a majority in principal amount of the outstanding Securities
of any Series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration).
Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured,
for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent
thereon.

 

Section 6.14           Undertaking
for Costs.

 

All parties to this Indenture agree, and each
Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any
suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered
or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such
court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit,
having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall
not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more
than 10% in principal amount of the outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement
of the payment of the principal of or interest on any Security on or after the Stated Maturity or Stated Maturities expressed in such
Security (or, in the case of redemption, on the redemption date).

 

ARTICLE VII

 

TRUSTEE

 

Section 7.1             Duties
of Trustee.

 

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

 

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

 

(i)            The
Trustee need perform only those duties that are specifically set forth in this Indenture and no others.

 

(ii)           In
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon Officers’ Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements
of this Indenture; however, in the case of any such Officers’ Certificates or Opinions of Counsel which by any provisions hereof
are specifically required to be furnished to the Trustee, the Trustee shall examine such Officers’ Certificates and Opinions of
Counsel to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy
of mathematical calculations or other facts stated therein).

 

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

 

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

 

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

 

(iii)          The
Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any
Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the outstanding Securities
of such Series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising
any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such Series.

 

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(d)            Every
provision of this Indenture that in any way relates to the Trustee is subject to paragraph (a), (b) and (c) of this Section.

 

(e)            The
Trustee may refuse to perform any duty or exercise any right or power unless it receives security or indemnity satisfactory to it against
any loss, liability or expense.

 

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

 

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

 

(h)            The
Paying Agent, the Registrar, the Notice Agent, any agent and any authenticating agent shall be entitled to the protections, immunities
and standard of care as are set forth in paragraphs (a), (b) and (c) of this Section with respect to the Trustee.

 

Section 7.2             Rights
of Trustee.

 

(a)            The
Trustee may rely on and shall be protected in acting or refraining from acting upon any document believed by it to be genuine and to have
been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document.

 

(b)            Before
the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel, or both. The Trustee
shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion
of Counsel. No such Officers’ Certificate or Opinion of Counsel shall be at the expense of the Trustee. Any request or direction
of the Company mentioned herein shall be sufficiently evidenced by an Officers’ Certificate.

 

(c)            The
Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. No
Depositary shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any Depositary.

 

(d)            The
Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights
or powers, provided that the Trustee’s conduct does not constitute negligence or bad faith. The Trustee shall not be liable for
any special, punitive or consequential damages, even if they were reasonably foreseeable.

 

(e)            The
Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder, and the Trustee may conclusively rely
on any such advice or Opinion of Counsel.

 

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

 

(g)            The
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument,
opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit.

 

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(h)            The
Trustee shall not be deemed to have notice of any Default or Event of Default (other than a payment default under Section 6.1 or
6.2) unless a Responsible Officer of the Trustee has received written notice of any event which is in fact such a default at the Corporate
Trust Office of the Trustee, and such notice references the Securities generally or the Securities of a particular Series and this
Indenture.

 

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

 

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

 

(k)            The
Trustee shall have no duty to inquire as to or monitor the performance of the Issuer with respect to the covenants contained in Article IV.

 

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

 

(m)           Nothing
herein shall be deemed to require the Trustee to submit to the jurisdiction or venue of a non-U.S. court.

 

Section 7.3              Force
Majeure.

 

(a)            The
Trustee shall have no liability for delays or inability to perform its duties hereunder due to forces majeure, events beyond its
control, such as (but not exclusively) civil unrest, earthquakes, hurricanes or other natural disasters, floods, utility failures, transmission
interruptions, power failures, wars, governmental declarations or Acts of God; it being understood that the Trustee shall use reasonable
efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

 

(b)            Delivery
of reports or information by the Company shall not be deemed to confer actual or constructive knowledge or notice on the Trustee with
respect to a Default or Event of Default, or otherwise.

 

Section 7.4              Individual
Rights of Trustee.

 

The Trustee in its individual or any other capacity
may become the owner or pledgee of Securities and may otherwise deal with the Company or an Affiliate of the Company with the same rights
it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is also subject to Sections 7.11 and
7.12.

 

Section 7.5              Trustee’s
Disclaimer.

 

The Trustee makes no representation as to the
validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from
the Securities, and it shall not be responsible for any statement in the Securities other than its authentication.

 

Section 7.6             Notice
of Defaults.

 

If a Default or Event of Default occurs and is
continuing with respect to the Securities of any Series and if it is known to a Responsible Officer of the Trustee, the Trustee shall
mail (or deliver notice subject to the applicable procedures of the Depositary or relevant clearing system) to each Security Holder of
the Securities of that Series notice of a Default or Event of Default within 90 days after it occurs or, if later, after a Responsible
Officer of the Trustee has written notice of such Default or Event of Default. Except in the case of a Default or Event of Default in
payment of principal of or interest on any Security of any Series, or in the payment of any sinking fund installment, the Trustee may
withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines
that withholding the notice is in the interests of Security Holders of that Series.

 

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Section 7.7              Reports
by Trustee to Holders.

 

Within 60 days after May 15 in each
year, the Trustee shall transmit by mail to all Security Holders, as their names and addresses appear on the register kept by the Registrar,
a brief report dated as of such May 15, in accordance with, and to the extent required under, TIA § 313.

 

A copy of each report at the time of its mailing
to Security Holders of any Series shall be filed with the SEC and each stock exchange on which the Securities of that Series are
listed. The Company shall promptly notify the Trustee when Securities of any Series are listed on any stock exchange.

 

Section 7.8              Compensation
and Indemnity.

 

The Company shall pay to the Trustee from time
to time compensation for its services as the Company and the Trustee shall from time to time agree upon in writing. The Trustee’s
compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee
upon request for all reasonable out of pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses
of the Trustee’s agents and counsel.

 

The Company shall indemnify each of the Trustee
and any predecessor Trustee against any loss, liability or expense (including the cost of defending itself) incurred by it except as set
forth in the next paragraph in the performance of the Trustee duties under this Indenture as Trustee or Agent. The Trustee shall notify
the Company promptly of any claim for which it may seek indemnity; provided, however, that failure to so notify the Company shall not
relieve it of its obligations hereunder. The Company shall defend the claim and the Trustee shall cooperate in the defense; provided,
however, the Trustee may conduct its own defense if there is a conflict of interest between the interests of the Company and those of
the Trustee. The Trustee may have one separate counsel (in addition to local counsel, if applicable) and the Company shall pay the reasonable
fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably
withheld. This indemnification shall apply to officers, directors, employees, shareholders and Agents or agents of the Trustee.

 

The Company need not reimburse any expense or
indemnify against any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder, Agent or agent of
the Trustee to the extent it is attributed to its own negligence or willful conduct as determined by a court of competent jurisdiction
in a final, non-appealable order.

 

To secure the Company’s payment obligations
in this Section, the Trustee shall have a lien prior to the Securities of any Series on all money or property held or collected by
the Trustee, except that held in trust to pay principal of and interest on particular Securities of that Series.

 

When the Trustee incurs expenses or renders services
after an Event of Default specified in Section 6.1(d) or (e) occurs, the expenses and the compensation for the services
(including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy
Law.

 

The provisions of this Section shall survive
the termination of this Indenture and the resignation and removal of the Trustee.

 

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Section 7.9             Replacement
of Trustee.

 

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

 

The Trustee may resign with respect to the Securities
of one or more Series by so notifying the Company at least 30 days prior to the date of the proposed resignation. The Holders
of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying
the Trustee and the Company. The Company may remove the Trustee with respect to Securities of one or more Series if:

 

(a)            the
Trustee fails to comply with Section 7.11;

 

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

 

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

 

(d)            the
Trustee becomes incapable of acting.

 

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

 

If a successor Trustee with respect to the Securities
of any one or more Series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring
Trustee, the Company or the Holders of at least a majority in principal amount of the Securities of the applicable Series may petition
any court of competent jurisdiction for the appointment of a successor Trustee.

 

A successor Trustee shall deliver a written acceptance
of its appointment to the retiring Trustee and to the Company. Immediately after that, the retiring Trustee upon payment of its fees and
expenses then unpaid shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.8,
the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers
and duties of the Trustee with respect to each Series of Securities for which it is acting as Trustee under this Indenture. A successor
Trustee shall mail a notice of its succession to each Security Holder of each such Series. Notwithstanding replacement of the Trustee
pursuant to this Section 7.9, the Company’s obligations under Section 7.8 hereof shall continue for the benefit of the
retiring Trustee with respect to expenses and liabilities incurred by it prior to such replacement.

 

Section 7.10           Successor
Trustee by Merger, etc.

 

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

 

Section 7.11           Eligibility;
Disqualification.

 

This Indenture shall always have a Trustee who
satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee shall always have a combined capital and surplus
of at least $150,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA § 310(b).

 

Section 7.12           Preferential
Collection of Claims Against Company.

 

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

 

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ARTICLE VIII

 

SATISFACTION AND DISCHARGE; DEFEASANCE

 

Section 8.1             Satisfaction
and Discharge of Indenture.

 

This Indenture shall upon Company Order cease
to be of further effect (except as hereinafter provided in this Section 8.1), and the Trustee, at the expense of the Company, shall
execute proper instruments acknowledging satisfaction and discharge of this Indenture, when

 

(a)            either

 

(i)             all
Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been
replaced or paid) have been delivered to the Trustee for cancellation; or

 

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

 

(A)           have
become due and payable, or

 

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

 

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

 

(D)           are
deemed paid and discharged pursuant to Section 8.3, as applicable;

 

and the Company, in the case of (A), (B) or
(C) above, has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust an amount sufficient for
the purpose of paying and discharging the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation,
for principal and interest to the date of such deposit (in the case of Securities which have become due and payable on or prior to the
date of such deposit) or to the Stated Maturity or redemption date, as the case may be;

  

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

 

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

 

Notwithstanding the satisfaction and discharge
of this Indenture, the obligations of the Company to the Trustee under Section 7.8, and, if money shall have been deposited with
the Trustee pursuant to clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall survive.

 

Section 8.2             Application
of Trust Funds; Indemnification.

 

(a)            Subject
to the provisions of Section 8.5, all money deposited with the Trustee pursuant to Section 8.1, all money and U.S. Government
Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.3 or 8.4 and all money received by
the Trustee in respect of U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.3
or 8.4, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment,
either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the
persons entitled thereto, of the principal and interest for whose payment such money has been deposited with or received by the Trustee
or to make mandatory sinking fund payments or analogous payments as contemplated by Sections 8.3 or 8.4.

 

    24 

     

    

 

(b)            The
Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government
Obligations or Foreign Government Obligations deposited pursuant to Sections 8.3 or 8.4 or the interest and principal received in
respect of such obligations other than any payable by or on behalf of Holders.

 

(c)            The
Trustee shall deliver or pay to the Company from time to time upon Company Request any U.S. Government Obligations or Foreign Government
Obligations or money held by it as provided in Sections 8.3 or 8.4 which, in the opinion of a nationally recognized firm of independent
certified public accountants expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount thereof
which then would have been required to be deposited for the purpose for which such U.S. Government Obligations or Foreign Government Obligations
or money were deposited or received. This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations or
Foreign Government Obligations held under this Indenture.

 

Section 8.3             Legal
Defeasance of Securities of any Series.

 

Unless this Section 8.3 is otherwise specified,
pursuant to Section 2.2(t), to be inapplicable to Securities of any Series, the Company shall be deemed to have paid and discharged
the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit referred
to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of such Series,
shall no longer be in effect (and the Trustee, at the expense of the Company, shall, at Company Request, execute proper instruments acknowledging
the same), except as to:

 

(a)            the
rights of Holders of Securities of such Series to receive, from the trust funds described in subparagraph (d) hereof, (i) payment
of the principal of and each installment of principal of and interest on the outstanding Securities of such Series on the Stated
Maturity of such principal or installment of principal or interest and (ii) the benefit of any mandatory sinking fund payments applicable
to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms of this Indenture
and the Securities of such Series;

 

(b)            the
provisions of Sections 2.4, 2.7, 2.8, 8.2, 8.3 and 8.5; and

 

(c)            the
rights, powers, trust and immunities of the Trustee hereunder;

 

provided that, the following conditions shall
have been satisfied:

 

(d)            the
Company shall have deposited or caused to be irrevocably deposited (except as provided in Section 8.2(c)) with the Trustee as trust
funds in trust for the purpose of making the following payments, specifically pledged as security for and dedicated solely to the benefit
of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or
U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than
a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof
in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee),
not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each
installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of all the Securities of such
Series on the dates such installments of interest or principal and such sinking fund payments are due;

 

(e)            such
deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument
to which the Company is a party or by which it is bound;

 

(f)             no
Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such
deposit or during the period ending on the 91st day after such date;

 

    25 

     

    

 

(g)            the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that (i) the Company
has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of
this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon
such Opinion of Counsel shall confirm that, the Holders of the Securities of such Series will not recognize income, gain or loss
for Federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to Federal income tax on the
same amount and in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not
occurred;

 

(h)            the
Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the
intent of preferring the Holders of the Securities of such Series over any other creditors of the Company or with the intent of defeating,
hindering, delaying or defrauding any other creditors of the Company; and

 

(i)             the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent provided for relating to the defeasance contemplated by this Section have been complied with.

 

Section 8.4              Covenant
Defeasance.

 

Unless this Section 8.4 is otherwise specified
pursuant to Section 2.2(t) to be inapplicable to Securities of any Series, the Company may omit to comply with respect to the
Securities of any Series with any term, provision or condition set forth under Sections 4.2, 4.3, 4.4, 4.5, and 5.1 as well
as any additional covenants specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officers’
Certificate delivered pursuant to Section 2.2(t) (and the failure to comply with any such covenants shall not constitute a Default
or Event of Default with respect to such Series under Section 6.1) and the occurrence of any event specified in a supplemental
indenture for such Series of Securities or a Board Resolution or an Officers’ Certificate delivered pursuant to Section 2.2(r) and
designated as an Event of Default shall not constitute a Default or Event of Default hereunder, with respect to the Securities of such
Series, provided that the following conditions shall have been satisfied:

 

(a)             With reference to
this Section 8.4, the Company has deposited or caused to be irrevocably deposited (except as provided in Section 8.2(c)) with
the Trustee as trust funds in trust for the purpose of making the following payments specifically pledged as security for, and dedicated
solely to, the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars,
cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign
Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal
in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed
on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of
a nationally recognized firm of independent certified public accountants expressed in a written certification thereof delivered to the
Trustee, to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect
of the Securities of such Series on the dates such installments of interest or principal and such sinking fund payments are due;

 

(b)            Such
deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument
to which the Company is a party or by which it is bound;

 

(c)            No
Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such
deposit;

 

(d)            The
Company shall have delivered to the Trustee an Opinion of Counsel to the effect that Holders of the Securities of such Series will
not recognize income, gain or loss for federal income tax purposes as a result of such deposit and covenant defeasance and will be subject
to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and covenant
defeasance had not occurred;

 

    26 

     

    

 

(e)            The
Company shall have delivered to the Trustee an Officers’ Certificate stating the deposit was not made by the Company with the intent
of preferring the Holders of the Securities of such Series over any other creditors of the Company or with the intent of defeating,
hindering, delaying or defrauding any other creditors of the Company; and

 

(f)             The
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent herein provided for relating to the covenant defeasance contemplated by this Section have been complied with.

 

Section 8.5             Repayment
to Company.

 

The Trustee and the Paying Agent shall pay to
the Company upon written request any money held by them for the payment of principal and interest that remains unclaimed for two years.
After that, Security Holders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned
property law designates another person.

 

ARTICLE IX

 

SUPPLEMENTAL INDENTURES, AMENDMENTS AND WAIVERS

 

Section 9.1             Without
Consent of Holders.

 

The Company and the Trustee may amend or supplement
this Indenture or the Securities of one or more Series without the consent of any Security Holder:

 

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

 

(b)            to
comply with Article V;

 

(c)            to
provide for uncertificated Securities in addition to or in place of certificated Securities;

 

(d)            to
make any change that does not adversely affect the rights of any Security Holder;

 

(e)            to
provide for the issuance of and establish the form and terms and conditions of Securities of any Series as permitted by this Indenture;

  

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

 

(g)            to
comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA.

 

Section 9.2             With
Consent of Holders.

 

The Company and the Trustee may enter into a supplemental
indenture with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities of each Series affected
by such supplemental indenture (including consents obtained in connection with a tender offer or exchange offer for the Securities of
such Series), for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture
or of any supplemental indenture or of modifying in any manner the rights of the Security Holders of each such Series. Except as provided
in Section 6.13, the Holders of at least a majority in principal amount of the outstanding Securities of any Series by notice
to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series) may
waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series.

 

It shall not be necessary for the consent of the
Holders of Securities under this Section 9.2 to approve the particular form of any proposed supplemental indenture or waiver, but
it shall be sufficient if such consent approves the substance thereof. After a supplemental indenture or waiver under this section becomes
effective, the Company shall mail to the Holders of Securities affected thereby, a notice briefly describing the supplemental indenture
or waiver. Any failure by the Company to mail or publish such notice, or any defect therein, shall not, however, in any way impair or
affect the validity of any such supplemental indenture or waiver.

 

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Section 9.3             Limitations.

 

Without the consent of each Security Holder affected,
an amendment or waiver may not:

 

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

 

(b)            reduce
the rate of or extend the time for payment of interest (including default interest) on any Security;

 

(c)            reduce
the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any
sinking fund or analogous obligation;

 

(d)            reduce
the principal amount of Discount Securities payable upon acceleration of the maturity thereof;

 

(e)            waive
a Default or Event of Default in the payment of the principal of or interest, if any, on any Security (except a rescission of acceleration
of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and
a waiver of the payment default that resulted from such acceleration);

 

(f)             make
the principal of or interest, if any, on any Security payable in any currency other than that stated in the Security;

 

(g)            make
any change in Sections 6.8, 6.13 or 9.3 (this sentence); or

 

(h)            waive
a redemption payment with respect to any Security, provided that such redemption is made at the Company’s option.

 

Section 9.4             Compliance
with Trust Indenture Act.

 

Every amendment or waiver to this Indenture or
the issuance of and establishment of the form and terms and conditions of Securities of one or more Series shall be set forth in
a supplemental indenture hereto that complies with the TIA as then in effect.

 

Section 9.5             Revocation
and Effect of Consents.

 

Until an amendment is set forth in a supplemental
indenture or a waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent
Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation
of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to his Security or
portion of a Security if the Trustee receives the notice of revocation before the date of the supplemental indenture or the date the waiver
becomes effective.

 

Any amendment or waiver once effective shall bind
every Security Holder of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (a) through
(h) of Section 9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every
subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security.

 

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Section 9.6              Notation
on or Exchange of Securities.

 

The Trustee may place an appropriate notation
about an amendment or waiver on any Security of any Series thereafter authenticated. The Company in exchange for Securities of that
Series may issue and the Trustee shall authenticate upon receipt of a Company Order new Securities of that Series that reflect
the amendment or waiver.

 

Section 9.7             Trustee
Protected.

 

In executing, or accepting the additional trusts
created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture,
the Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in relying upon, an Opinion of Counsel
stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee shall sign all supplemental
indentures, except that the Trustee need not sign any supplemental indenture that adversely affects its rights.

 

ARTICLE X

 

MISCELLANEOUS

 

Section 10.1           Trust
Indenture Act Controls.

 

If any provision of this Indenture limits, qualifies,
or conflicts with another provision which is required or deemed to be included in this Indenture by the TIA, such required or deemed provision
shall control.

 

Section 10.2           Notices.

 

Any notice or communication by the Company or
the Trustee to the other, or by a Holder to the Company or the Trustee, is duly given if in writing, in the English language, referencing
this Indenture and the applicable securities or series of securities, and delivered in person or mailed by first-class mail, or by facsimile
transmission:

 

if to the Company: 

 

Antelope Enterprise Holdings Limited 

Junbing Industrial Zone, Anhai, Jinjiang City 

Fujian Province, PRC 

Attention: Chief Financial Officer 

Fax: +86 (595) 8576 5059

 

if to the Trustee:

 

[             ] 

Fax No: [             ] 

Attention: [             ]

 

The Company or the Trustee by notice to the other
may designate additional or different addresses for subsequent notices or communications.

 

Any notice or communication to a Security Holder
shall be mailed by first-class mail to his address shown on the register kept by the Registrar or delivered subject to the applicable
procedures of Depositary or relevant clearing system. Failure to mail a notice or communication to a Security Holder of any Series or
any defect in it shall not affect its sufficiency with respect to other Security Holders of that or any other Series.

 

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

 

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

 

Section 10.3           Communication
by Holders with Other Holders.

 

Security Holders of any Series may communicate
pursuant to TIA § 312(b) with other Security Holders of that Series or any other Series with respect to their rights
under this Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar and anyone else shall
have the protection of TIA § 312(c).

 

Section 10.4           Certificate
and Opinion as to Conditions Precedent.

 

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

 

(a)            an
Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture
relating to the proposed action have been complied with; and

 

(b)            an
Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

 

Section 10.5           Statements
Required in Certificate or Opinion.

 

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

 

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

 

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

 

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

 

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

 

Section 10.6           Rules by
Trustee and Agents.

 

The Trustee may make reasonable rules for
action by or a meeting of Security Holders of one or more Series. Any Agent may make reasonable rules and set reasonable requirements
for its functions.

 

Section 10.7           Legal
Holidays.

 

Unless otherwise provided by Board Resolution,
Officers’ Certificate or supplemental indenture hereto for a particular Series, a “Legal Holiday” is any day that is
not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding
day that is not a Legal Holiday, and no interest shall accrue for the intervening period.

 

Section 10.8           No
Recourse Against Others.

 

A director, officer, employee or stockholder,
as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any
claim based on, in respect of or by reason of such obligations or their creation. Each Security Holder by accepting a Security waives
and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities.

 

    30 

     

    

 

Section 10.9           Counterparts.

 

This Indenture may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and
all of which taken together shall constitute one and the same agreement.

 

Section 10.10         Governing
Laws.

 

THIS INDENTURE AND THE SECURITIES SHALL BE
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN SUCH STATE, WITHOUT REGARD TO THE CONFLICT
OF LAWS PROVISIONS THEREOF.

 

Section 10.11          No
Adverse Interpretation of Other Agreements.

 

This Indenture may not be used to interpret another
indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be
used to interpret this Indenture.

 

Section 10.12         Successors.

 

All agreements of the Company in this Indenture
and the Securities shall bind its successor. All agreements of the Trustee in this Indenture shall bind its successor.

 

Section 10.13         Severability.

 

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

 

Section 10.14         Table
of Contents, Headings, Etc.

 

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

 

Section 10.15         Securities
in a Foreign Currency or in ECU.

 

Unless otherwise specified in a Board Resolution,
a supplemental indenture hereto or an Officers’ Certificate delivered pursuant to Section 2.2 of this Indenture with respect
to a particular Series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified
percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time
outstanding and, at such time, there are outstanding Securities of any Series which are denominated in a coin or currency other than
Dollars (including ECUs), then the principal amount of Securities of such Series which shall be deemed to be outstanding for the
purpose of taking such action shall be that amount of Dollars that could be obtained for such amount at the Market Exchange Rate at such
time. For purposes of this Section 10.15, “Market Exchange Rate” shall mean the noon Dollar buying rate in New York City
for cable transfers of that currency as published by the Federal Reserve Bank of New York; provided, however, in the case of ECUs, Market
Exchange Rate shall mean the rate of exchange determined by the Commission of the European Union (or any successor thereto) as published
in the Official Journal of the European Union (such publication or any successor publication, the “Journal”). If such Market
Exchange Rate is not available for any reason with respect to such currency, the Trustee shall use, in its sole discretion and without
liability on its part, such quotation of the Federal Reserve Bank of New York or, in the case of ECUs, the rate of exchange as published
in the Journal, as of the most recent available date, or quotations or, in the case of ECUs, rates of exchange from one or more major
banks in The City of New York or in the country of issue of the currency in question or, in the case of ECUs, in Luxembourg or such other
quotations or, in the case of ECUs, rates of exchange as the Trustee, upon consultation with the Company, shall deem appropriate. The
provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated
in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture.

 

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All decisions and determinations of the Trustee
regarding the Market Exchange Rate or any alternative determination provided for in the preceding paragraph shall be in its sole discretion
and shall, in the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and irrevocably binding upon
the Company and all Holders.

 

Section 10.16         Judgment
Currency.

 

The Company agrees, to the fullest extent that
it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to
convert the sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required
Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used
shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required
Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking
Day, then the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase
in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final
unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall
not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)),
in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt,
by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable
as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such
actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not be affected
by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day”
means any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required
by law, regulation or executive order to close.

 

ARTICLE XI

 

SINKING FUNDS

 

Section 11.1           Applicability
of Article.

 

The provisions of this Article shall be applicable
to any sinking fund for the retirement of the Securities of a Series, except as otherwise permitted or required by any form of Security
of such Series issued pursuant to this Indenture.

 

The minimum amount of any sinking fund payment
provided for by the terms of the Securities of any Series is herein referred to as a “mandatory sinking fund payment”
and any other amount provided for by the terms of Securities of such Series is herein referred to as an “optional sinking fund
payment.” If provided for by the terms of Securities of any Series, the cash amount of any sinking fund payment may be subject to
reduction as provided in Section 11.2. Each sinking fund payment shall be applied to the redemption of Securities of any Series as
provided for by the terms of the Securities of such Series.

 

    32 

     

    

 

Section 11.2           Satisfaction
of Sinking Fund Payments with Securities.

 

The Company may, in satisfaction of all or any
part of any sinking fund payment with respect to the Securities of any Series to be made pursuant to the terms of such Securities
(1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable (other than any of such Securities
previously called for mandatory sinking fund redemption) and (2) apply as credit Securities of such Series to which such sinking
fund payment is applicable and which have been repurchased by the Company or redeemed either at the election of the Company pursuant to
the terms of such Series of Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional
sinking fund payments or other optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been
previously so credited. Such Securities shall be received by the Trustee, together with an Officers’ Certificate with respect thereto,
not later than 15 days prior to the date on which the Trustee begins the process of selecting Securities for redemption, and shall
be credited for such purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking
fund and the amount of such sinking fund payment shall be reduced accordingly. If as a result of the delivery or credit of Securities
in lieu of cash payments pursuant to this Section 11.2, the principal amount of Securities of such Series to be redeemed in
order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such Series for
redemption, except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee or a
Paying Agent and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent shall from
time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Trustee or such
Paying Agent upon delivery by the Company to the Trustee of Securities of that Series purchased by the Company having an unpaid principal
amount equal to the cash payment required to be released to the Company.

 

Section 11.3           Redemption
of Securities for Sinking Fund.

 

Not less than 45 days (unless otherwise indicated
in the Board Resolution, supplemental indenture hereto or Officers’ Certificate in respect of a particular Series of Securities)
prior to each sinking fund payment date for any Series of Securities, the Company will deliver to the Trustee an Officers’
Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that Series pursuant to the terms of that
Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied
by delivering and crediting of Securities of that Series pursuant to Section 11.2, and the optional amount, if any, to be added
in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon be obligated to pay the amount therein specified.
Not less than 30 days (unless otherwise indicated in the Board Resolution, Officers’ Certificate or supplemental indenture
in respect of a particular Series of Securities) before each such sinking fund payment date the Trustee shall select the Securities
to be redeemed upon such sinking fund payment date in the manner specified in Section 3.2 and cause notice of the redemption thereof
to be given in the name of and at the expense of the Company in the manner provided in Section 3.3. Such notice having been duly
given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.4, 3.5 and 3.6.

 

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

 

	 	Antelope Enterprise Holdings Limited
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	[             ],

                as Trustee

	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature Page to Indenture]

 

    33

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