Document:

EX-4.1

 Exhibit 4.1 

MOODY’S CORPORATION 

as Issuer 
 and 

COMPUTERSHARE TRUST COMPANY, N.A. AS SUCCESSOR TO WELLS FARGO 

BANK, NATIONAL ASSOCIATION, 

as Trustee 
  

 
 FIFTEENTH
SUPPLEMENTAL INDENTURE 
 Dated as of November 29, 2021 

to 
 INDENTURE 

 
  

Dated as of August 19, 2010 

3.100% Senior Notes due 2061 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE 1.	  			
	DEFINITIONS	  	 	 
			
	 Section 1.1.
	 	 Definition of Terms
	  	 	2	 
		
	ARTICLE 2.	  			
	GENERAL TERMS AND CONDITIONS OF THE NOTES	  	 	 
			
	 Section 2.1.
	 	 Designation and Principal Amount
	  	 	5	 
	 Section 2.2.
	 	 Maturity
	  	 	5	 
	 Section 2.3.
	 	 Further Issues
	  	 	5	 
	 Section 2.4.
	 	 Form of Payment
	  	 	5	 
	 Section 2.5.
	 	 Global Securities and Denomination of Notes
	  	 	5	 
	 Section 2.6.
	 	 Interest
	  	 	5	 
	 Section 2.7.
	 	 Redemption
	  	 	5	 
	 Section 2.8.
	 	 Limitations on Liens
	  	 	6	 
	 Section 2.9.
	 	 Limitations on Sale and Leaseback Transactions
	  	 	7	 
	 Section 2.10.
	 	 Merger, Consolidation or Sale of Assets
	  	 	8	 
	 Section 2.11.
	 	 Events of Default
	  	 	8	 
	 Section 2.12.
	 	 Appointment of Agents
	  	 	8	 
	 Section 2.13.
	 	 Change of Control
	  	 	8	 
	 Section 2.14.
	 	 Defeasance Upon Deposit of Moneys or U.S. Government Obligations
	  	 	10	 
		
	ARTICLE 3.	  			
	FORM OF NOTES	  	 	 
			
	 Section 3.1.
	 	 Form of Notes
	  	 	10	 
		
	ARTICLE 4.	  			
	ORIGINAL ISSUE OF NOTES	  	 	 
			
	 Section 4.1.
	 	 Original Issue of Notes
	  	 	10	 
		
	ARTICLE 5.	  			
	MISCELLANEOUS	  	 	 
			
	 Section 5.1.
	 	 Ratification of Indenture
	  	 	10	 
	 Section 5.2.
	 	 Trustee Not Responsible for Recitals
	  	 	10	 
	 Section 5.3.
	 	 Governing Law
	  	 	10	 
	 Section 5.4.
	 	 Separability
	  	 	10	 
	 Section 5.5.
	 	 Counterparts Originals
	  	 	11	 
	 EXHIBIT A – Form of Notes
	  	 	A-1	 

  

  
 ii 

 FIFTEENTH SUPPLEMENTAL INDENTURE, dated as of November 29, 2021 (this
“Supplemental Indenture”), between Moody’s Corporation, a corporation duly organized and existing under the laws of the State of Delaware, having its principal office at 7 World Trade Center at 250 Greenwich Street, New York, New York
10007 (the “Company”), and Computershare Trust Company, N.A. as successor to Wells Fargo Bank, National Association, a national banking association, organized and in good standing under the laws of the United States, as trustee (the
“Trustee”). 
 WHEREAS, the Company executed and delivered the indenture, dated as of August 19, 2010, to the Trustee
(the “Base Indenture,” and, as hereby supplemented, the “Indenture”), to provide for the issuance of the Company’s debt Securities to be issued in one or more series; 

WHEREAS, pursuant to the terms of the Base Indenture, the Company desires to provide for the establishment of a new series of its notes
under the Base Indenture to be known as its “3.100% Senior Notes due 2061” (the “Notes”), the form and substance and the terms, provisions and conditions thereof to be set forth as provided in the Base Indenture and this
Supplemental Indenture; 
 WHEREAS, the Board of Directors, pursuant to resolutions duly adopted on July 28, 2020, has duly
authorized the issuance of the Notes, and has authorized the proper officers of the Company to execute any and all appropriate documents necessary or appropriate to effect each such issuance; 

WHEREAS, this Supplemental Indenture is being entered into pursuant to the provisions of Section 3.01 and
Section 14.01 of the Base Indenture; 
 WHEREAS, the Company has requested that the Trustee execute and
deliver this Supplemental Indenture; and 
 WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of
the Company, in accordance with its terms, and to make the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, have been performed, and the execution and delivery of this
Supplemental Indenture has been duly authorized in all respects; 
 NOW THEREFORE, in consideration of the premises and the purchase
and acceptance of the Notes by the Holders thereof, and for the purpose of setting forth, as provided in the Base Indenture, the forms and terms of the Notes, the Company covenants and agrees, with the Trustee, as follows: 

  
 1 

 ARTICLE 1. 

DEFINITIONS 

Section 1.1. Definition of Terms. Unless the context otherwise requires: 

(a) each term defined in the Base Indenture has the same meaning when used in this Supplemental Indenture, unless otherwise defined in this
Supplemental Indenture; 
 (b) the singular includes the plural and vice versa; 

(c) headings are for convenience of reference only and do not affect interpretation; 

(d) a reference to a Section or Article is to a Section or Article of this Supplemental Indenture unless otherwise indicated; and 

(e) the following terms have the meanings given to them in this Section 1.1(e): 

(i) “Attributable Debt” means an amount equal to the lesser of (a) the fair market value of the property (as
determined by the Board of Directors of the Company) or (b) the present value of the total net amount of payments to be made under the lease during its remaining term, discounted at the interest rate set forth or implicit in the terms of the
lease, compounded semi-annually. 
 (ii) “Base Indenture” shall have the meaning assigned to it in the recitals.

 (iii) “Business Day” means any day, other than a Saturday or Sunday, that is not a day on which banking
institutions in The City of New York are authorized or required by law or executive order to close. 
 (iv) “Change of
Control” means the occurrence of any one of the following: (1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all
or substantially all of the assets of the Company and its Subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than to the Company or one of its Subsidiaries; (2) the
consummation of any transaction (including without limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the “beneficial
owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the outstanding Voting Stock of the Company,
measured by voting power rather than number of shares; (3) the Company consolidates with, or merges with or into, any Person, or any Person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in
which any of the outstanding Voting Stock of the Company or such other Person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Voting Stock of the Company outstanding
immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving Person immediately after giving effect to such transaction; (4) the first day on which the majority of the
members of the Board of Directors of the Company cease to be Continuing Directors; or (5) the adoption of a plan relating to the liquidation or dissolution of the Company. 

  
 2 

 (v) “Change of Control Offer” shall have the meaning assigned to
it in Section 2.13. 
 (vi) “Change of Control Payment Date” shall have the meaning
assigned to it in Section 2.13. 
 (vii) “Change of Control Triggering Event” means the
notes cease to be rated Investment Grade by S&P or Fitch or, if S&P or Fitch and another “nationally recognized statistical rating organization” (as defined in Section 3(a)(62) of the Exchange Act) shall provide a rating of
the notes, by S&P or Fitch and any such other rating organization, on any date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending
Change of Control) and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as S&P, Fitch or such other rating organization shall have
publicly announced that it is considering a possible ratings change). Notwithstanding the foregoing, no Change of Control Triggering Event will be deemed to have occurred in connection with any particular Change of Control unless and until such
Change of Control has actually been consummated. 
 (viii) “Consolidated Total Assets” means the total assets of
the Company and its consolidated subsidiaries, as set forth on the Company’s most recent consolidated balance sheet, as determined under GAAP. 

(ix) “Continuing Director” means as of any date of determination, any member of the Board of Directors of the Company
who: (1) was a member of such Board of Directors on the date of the Indenture; or (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such
Board of Directors at the time of such nomination or election. 
 (x) “DTC” means The Depository Trust Company.

 (xi) “Event of Default” shall have the meaning assigned to it in Section 2.11. 

(xii) “Fitch” means Fitch Ratings, a part of the Fitch Group, and its successors. 

(xiii) “Indenture” shall have the meaning assigned to it in the recitals. 

(xiv) “Investment Grade” means a rating of BBB- or better by S&P or Fitch
(or its equivalent under any successor rating category of S&P or Fitch); and an equivalent rating of another “nationally recognized statistical rating organization” that shall provide a rating of the notes. 

  
 3 

 (xv) “Lien” shall have the meaning assigned to it in
Section 2.8. 
 (xvi) “Net Revenue” means with respect to any Person for any period, the
net revenue of such Person and its consolidated subsidiaries, determined on a consolidated basis in accordance with GAAP for such period. 

(xvii) “Notes” shall have the meaning assigned to it in the recitals. 

(xviii) “Permitted Liens” shall have the meaning assigned to it in Section 2.8. 

(xix) “Person” means any individual, corporation, partnership, limited liability company, joint venture, association,
joint-stock company, trust, unincorporated organization or government or political subdivision thereof. 
 (xx)
“Registrar” shall have the meaning assigned to it in the recitals. 
 (xxi) “Restricted Subsidiary” means
any Subsidiary (a) the Total Assets of which exceed 10% of Consolidated Total Assets as of the end of the most recently completed fiscal year or (b) the Net Revenue of which exceeds 10% of the Net Revenue of the Company and its
consolidated subsidiaries as of the end of the most recently completed fiscal year. 
 (xxii) “Sale/Leaseback
Transaction” shall have the meaning assigned to it in Section 2.9. 
 (xxiii)
“Subsidiary” means with respect to any Person, any corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of capital stock or other interests (including partnership
interests) 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 (a) such Person, (b) such Person
and one or more Subsidiaries of such Person or (c) one or more Subsidiaries of such Person. 
 (xxiv)
“S&P” means S&P Global Ratings and its successors. 
 (xxv) “Total Assets” means at any date as
to any Person, the total assets of such Person and its consolidated subsidiaries at such date, determined on a consolidated basis in accordance with GAAP. 

(xxvi) “Trigger Period” shall have the meaning assigned to it in Section 1.1(e)(vi). 

(xxvii) “Trustee” shall have the meaning assigned to it in the recitals. 

  
 4 

 (xxviii) “Voting Stock” of any specified Person as of any date
means the capital stock of such Person that is at the time entitled to vote generally in the election of the board of directors of such Person. 

ARTICLE 2. 
 GENERAL
TERMS AND CONDITIONS OF THE NOTES 
 Section 2.1. Designation and Principal Amount. There is hereby authorized and
established a new series of Securities under the Base Indenture designated as the “3.100% Senior Notes due 2061,” which are not limited in aggregate principal amount. The initial aggregate principal amount of the Notes to be issued under
this Supplemental Indenture shall be $500,000,000. Any additional amounts of Notes to be issued shall be set forth in a Company Order. 

Section 2.2. Maturity. The stated maturity of principal for the Notes shall be November 29, 2061. 

Section 2.3. Further Issues. The Company may from time to time, without the consent of the Holders of Notes, issue additional
Notes, provided that if the additional Notes are not fungible, for U.S. federal income tax purposes, with the Notes, the additional Notes will have a separate CUSIP. Any such additional Notes shall have the same ranking, interest rate, maturity date
and other terms as the Notes. Any such additional Notes, together with the Notes herein provided for, shall constitute a single series of Securities under the Indenture. 

Section 2.4. Form of Payment. Principal of, premium, if any, and interest on the Notes shall be payable in U.S. dollars. 

Section 2.5. Global Securities and Denomination of Notes. Upon the original issuance, the Notes shall be represented by one or
more Global Securities. The Company shall issue the Notes in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof and shall deposit the Global Securities with the Trustee as custodian for DTC in New York, New York,
and register the Global Securities in the name of DTC or its nominee. 
 Section 2.6. Interest. 

(a) The Notes shall bear interest (computed on the basis of a 360-day year consisting of twelve 30-day months) from November 29, 2021 at the rate of 3.100% per annum payable semi-annually in arrears; interest payable on each Interest Payment Date shall include interest accrued from November 29, 2021,
or from the most recent Interest Payment Date to which interest has been paid or duly provided for; the Interest Payment Dates on which such interest shall be payable are May 29 and November 29, commencing on May 29, 2022; and the
record date for the interest payable on the Interest Payment Date is the date that is 15 calendar days immediately before the Interest Payment Date. 

Section 2.7. Redemption. The Notes are subject to redemption at the option of the Company as set forth in the form of Note
attached hereto as Exhibit A. 

  
 5 

 Section 2.8. Limitations on Liens. 

(a) The Company will not, and will not permit any Restricted Subsidiary to, create, assume, incur or guarantee any Indebtedness secured by a
mortgage, security interest, pledge, lien, charge or other encumbrance upon any of its or its Restricted Subsidiaries’ properties or assets (a “Lien”), whether owned on the date of issuance of the Notes or thereafter acquired, unless
the Notes are at least equally and ratably secured with such secured Indebtedness (together with, if the Company so determines, any other Indebtedness of or guaranty by the Company or such Restricted Subsidiary then existing or thereafter created
that is not subordinated to the Notes) for so long as such other Indebtedness is so secured (and any Lien created for the benefit of the holders of the Notes and any other debt securities of any series issued pursuant to the Indenture and having the
benefit of this Section 2.8 shall provide by its terms that such Lien will be automatically released and discharged upon the release and discharge of the Lien securing such other Indebtedness); provided, however,
that the above restrictions shall not apply to the following (the “Permitted Liens”): 
 (i) Liens on property
or other assets of any Person existing at the time such Person becomes a Restricted Subsidiary, provided that such Lien was not incurred in anticipation of such Person becoming a Restricted Subsidiary; 

(ii) Liens on property or other assets existing at the time of acquisition by the Company or any Restricted Subsidiary,
provided that such Lien was not incurred in anticipation of such acquisition; 
 (iii) Liens on property or assets to secure
any Indebtedness incurred prior to, at the time of, or within 270 days after, the acquisition of such property or in the case of real property, the completion of construction, the completion of improvements or the beginning of substantial commercial
operation of such real property for the purpose of financing all or any part of the purchase price of such real property, the construction thereof or the making of improvements thereto; 

(iv) Liens in the Company’s favor or in favor of a Restricted Subsidiary; 

(v) Liens existing on the date of issuance of the Notes; 

(vi) Liens on property or other assets of a Person existing at the time the Person is merged into or consolidated with the
Company or any Restricted Subsidiary or at the time of a sale, lease or other disposition of the properties of a Person as an entirety or substantially as an entirety to either the Company or any Restricted Subsidiary, provided that such Lien was
not incurred in anticipation of the merger or consolidation or sale, lease or other disposition; 
 (vii) Liens arising in
connection with the financing of accounts receivable by the Company or any Restricted Subsidiary; provided that the uncollected amount of account receivables subject at any time to any such financing shall not exceed $150,000,000; and 

  
 6 

 (viii) extensions, renewals or replacements (or successive extensions,
renewals or replacements) in whole or in part of any Lien referred to in this Section 2.8 without increase of the principal of the Indebtedness (plus any premium or fee payable in connection with any such extension, renewal
or replacement) secured by the Lien; provided, however, that any Permitted Liens shall not extend to or cover any property of the Company or that of any Restricted Subsidiary, as the case may be, other than the property specified in this
Section 2.8 and improvements to this property. 
 (b) Notwithstanding the foregoing, the Company and any Restricted
Subsidiary may create, assume, incur or guarantee Indebtedness secured by a Lien without equally and ratably securing the Notes; provided, that at the time of such creation, assumption, incurrence or guarantee, after giving effect thereto and to the
retirement of any Indebtedness that is concurrently being retired, the sum of (i) the aggregate amount of all outstanding Indebtedness secured by Liens other than Permitted Liens, and (ii) the Attributable Debt of all the Company’s
Sale/Leaseback Transactions permitted by Section 2.9(c) does not at such time exceed 5% of Consolidated Total Assets. 

Section 2.9. Limitations on Sale and Leaseback Transactions. 

(a) The Company will not, and will not permit any Restricted Subsidiary to, enter into any arrangement relating to property now owned or
hereafter acquired whereby either the Company transfers, or any Restricted Subsidiary transfers, such property to a Person and either the Company or any Restricted Subsidiary leases it back from such Person (a “Sale/Leaseback
Transaction”), unless: 
 (i) the Company or such Restricted Subsidiary could, at the time of entering into such
arrangement, incur Indebtedness secured by a Lien on the property involved in the transaction in an amount at least equal to the Attributable Debt with respect to such Sale/Leaseback Transaction, without equally and ratably securing the Notes as
described in Section 2.8; or 
 (ii) the net proceeds of the Sale/Leaseback Transaction are at
least equal to such property’s fair market value, as determined by the Company’s Board of Directors, and the proceeds are applied within 180 days of the effective date of the Sale/Leaseback Transaction to the repayment of senior
indebtedness of the Company or any Restricted Subsidiary. 
 (b) The restrictions set forth in (a) above will not apply to a
Sale/Leaseback Transaction: (i) entered into prior to the date of issuance of the Notes; (ii) that exists at the time any Person that owns property or assets becomes a Restricted Subsidiary; (iii) between the Company and a Restricted
Subsidiary or between Restricted Subsidiaries; (iv) involving leases for a period of no longer than three years; or (v) in which the lease for the property or asset is entered into within 270 days after the date of acquisition, completion
of construction or commencement of full operations of such property or asset, whichever is latest. 

  
 7 

 (c) Notwithstanding the restrictions contained above, the Company and its Restricted
Subsidiaries may enter into a Sale/Leaseback Transaction; provided that at the time of such transaction, after giving effect thereto, the aggregate amount of all Attributable Debt with respect to Sale/Leaseback Transactions existing at such time
that could not have been entered into pursuant to the restrictions in (a) above, together with the aggregate amount of all outstanding Indebtedness secured by Liens as permitted by Section 2.8(b), does not at such time
exceed 5% of Consolidated Total Assets. 
 Section 2.10. Merger, Consolidation or Sale of Assets.
Section 6.04 of the Base Indenture shall be revised in its entirety to read: 
 (a) The Company will be permitted
to consolidate or merge with another entity or to sell all or substantially all of its assets to another entity, subject to the Company’s meeting all of the following conditions: (i) any successor or purchaser is a corporation, limited
liability company, partnership or trust organized under the laws of the United States of America, any State or the District of Columbia; (ii) immediately following the consolidation, merger, sale or conveyance, the resulting, surviving or
transferee entity (if other than the Company) would not be in default in the performance of any covenant in the Indenture; and (iii) the Company delivers a supplemental indenture by which the surviving entity (if other than the Company)
expressly assumes the Company’s obligations under the Indenture. 
 (b) In the event that the Company consolidates or merges with
another entity or sells all or substantially all of its assets to another entity, the surviving entity (if other than the Company) will be substituted for the Company under the Indenture, and the Company will be discharged from all of its
obligations under the Indenture. 
 Section 2.11. Events of Default. 

(a) The term “Event of Default” as used in this Supplemental Indenture with respect to the Notes shall include the following
described event in addition to those set forth in Section 7.01 of the Base Indenture: 
 (i) The
Company or a Restricted Subsidiary fail to pay the principal of any Indebtedness when due at maturity in an aggregate amount of $50 million or more, or a default occurs that results in the acceleration of the maturity of the Company’s or
any of the Restricted Subsidiaries’ Indebtedness in an aggregate amount of $50 million or more; 
 Section 2.12.
Appointment of Agents. The Trustee shall initially be the Registrar and Paying Agent for the Notes. 
 Section 2.13. Change
of Control. 
 (a) Upon the occurrence of a Change of Control Triggering Event, unless the Company has exercised its right to redeem the
Notes as provided in Article Four of the Base Indenture, each Holder of Notes will have the right to require the Company to purchase all or a portion of such Holder’s Notes pursuant to the offer described in this
Section 2.13 (the “Change of Control Offer”), at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase, subject to the rights of Holders
of Notes on the relevant record date to receive interest due on the relevant Interest Payment Date. 

  
 8 

 (b) Within 30 days following the date upon which the Change of Control Triggering Event
occurred, or at the Company’s option, prior to any Change of Control but after the public announcement of the pending Change of Control, the Company will be required to send, by first class mail, a notice to each Holder of Notes, with a copy to
the trustee, which notice will govern the terms of the Change of Control Offer. Such notice will state, among other things, the purchase date, which must be no earlier than 30 days nor later than 60 days from the date such notice is mailed, other
than as may be required by law (the “Change of Control Payment Date”). The notice, if mailed prior to the date of consummation of the Change of Control, will state that the Change of Control Offer is conditioned on the Change of Control
being consummated on or prior to the Change of Control Payment Date. Holders of Notes electing to have Notes purchased pursuant to a Change of Control Offer will be required to surrender their Notes, with the form entitled “Option of Holder to
Elect Purchase” on the reverse of the Note completed, to the Paying Agent at the address specified in the notice, or transfer their Notes to the Paying Agent by book-entry transfer pursuant to the applicable procedures of the Paying Agent,
prior to the close of business on the third Business Day prior to the Change of Control Payment Date. 
 (c) The Company will not be required
to make a Change of Control Offer if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for such an offer made by the Company and such third party purchases all Notes properly tendered and
not withdrawn under its offer. 
 (d) Holders will not be entitled to require the Company to purchase their Notes in the event of a takeover,
recapitalization, leveraged buyout or similar transaction that is not a Change of Control. In addition, Holders may not be entitled to require the Company to purchase their Notes in certain circumstances involving a significant change in the
composition of the Company’s Board of Directors, including in connection with a proxy contest where the Company’s Board of Directors does not approve a dissident slate of directors but approves them as required by clause (4) of
Section 1.1(e)(iv). 
 (e) Notwithstanding this Section 2.13, a transaction will not be
deemed to involve a Change of Control under clause (2) of Section 1.1(e)(iv) if (i) the Company becomes a direct or indirect wholly-owned subsidiary of a holding company and (ii) (A) the direct or indirect
holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Company’s Voting Stock immediately prior to that transaction or (B) immediately following that
transaction no person (other than a holding company satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company. 

(f) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control. To the extent that the provisions of any securities laws or
regulations conflict with the Change of Control provisions of the Indenture, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control provisions
of the Indenture by virtue of such compliance. 

  
 9 

 Section 2.14. Defeasance Upon Deposit of Moneys or U.S. Government Obligations.
At the Company’s option, either (a) the Company shall be deemed to have been Discharged from its obligations with respect to the Notes on the first day after the applicable conditions set forth in Section 12.03 of
the Base Indenture have been satisfied or (b) the Company shall cease to be under any obligation to comply with any term, provision or condition set forth in Section 10.02 of the Base Indenture and Sections 2.8,
2.9 and 2.10 of this Supplemental Indenture with respect to the Notes at any time after the applicable conditions set forth in Section 12.03 of the Base Indenture have been satisfied. 

ARTICLE 3. 
 FORM OF
NOTES 
 Section 3.1. Form of Notes. The Notes and the Trustee’s Certificate of Authentication to be endorsed
thereon are to be substantially in the form set forth in Exhibit A hereto. 
 ARTICLE 4. 

ORIGINAL ISSUE OF NOTES 

Section 4.1. Original Issue of Notes. The Notes may, upon execution of this Supplemental Indenture, be executed by the Company and
delivered to the Trustee for authentication, and the Trustee shall, upon receipt of a Company Order, authenticate and deliver such Notes as in such Company Order provided. 

ARTICLE 5. 

MISCELLANEOUS 

Section 5.1. Ratification of Indenture. The Base Indenture, as supplemented by this Supplemental Indenture, is in all respects
ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Base Indenture in the manner and to the extent herein and therein provided; provided that the provisions of this Supplemental Indenture apply solely with respect to
the Notes. 
 Section 5.2. Trustee Not Responsible for Recitals. The recitals herein contained are made by the Company and not
by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 

Section 5.3. Governing Law. This Supplemental Indenture and each Note shall be deemed to be contracts made under the law of the
State of New York, and for all purposes shall be governed by and construed in accordance with the law of said State. 
 Section 5.4.
Separability. In case any provision in this Supplemental Indenture or in the Notes 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. 

  
 10 

 Section 5.5. Counterparts Originals. This Supplemental Indenture may be executed
in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

This Supplemental Indenture shall be valid, binding, and enforceable against a party when executed and delivered by an authorized individual
on behalf of the party by means of (i) an original manual signature, (ii) a faxed, scanned, or photocopied manual signature, or (iii) any other electronic signature permitted by the federal Electronic Signatures in Global and National
Commerce Act, state enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, including any relevant provisions of the Uniform Commercial Code (collectively, “Signature Law”), in each case
to the extent applicable. Each faxed, scanned, or photocopied manual signature, or other electronic signature, shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party
hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any faxed, scanned, or photocopied manual signature, or other electronic signature, of any other party and shall have no duty to investigate, confirm or
otherwise verify the validity or authenticity thereof. 
 This Supplemental Indenture may be executed in any number of counterparts, each of
which shall be deemed to be an original, but such counterparts shall, together, constitute one and the same instrument. For the avoidance of doubt, original manual signatures shall be used for execution or indorsement of writings when required under
the Uniform Commercial Code or other Signature Law due to the character or intended character of the writings. 
 [Signature Page
Follows] 

  
 11 

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

					
	MOODY’S CORPORATION
		
	By:	 	 /s/ John J. Goggins

		 	Name:	 	John J. Goggins
		 	Title:	 	Executive Vice President and General Counsel
	
	COMPUTERSHARE TRUST COMPANY, N.A.
		
	By:	 	 /s/ Scott R. Little

		 	Name:	 	Scott R. Little
		 	Title:	 	Vice President

  

  
 [Signature Page to
Fifteenth Supplemental Indenture] 

 EXHIBIT A 

[FORM OF FACE OF NOTE] 
 THIS NOTE 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, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS
NOTE FOR ALL PURPOSES. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK,
NEW YORK) (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
IN WHOLE, BUT NOT IN PART, BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF
SUCH SUCCESSOR DEPOSITARY. 

  
 A-1 

 CUSIP No. 615369 AX3 

MOODY’S CORPORATION 

3.100% SENIOR NOTES DUE 2061 
  

			
	No. R-[            ]	  	$[            ]

  
  

Principal and Interest. Moody’s Corporation, a corporation duly organized and existing under the laws of the State of Delaware
(herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co. or registered assigns, the principal sum of the
principal sum of [            ] dollars ($[            ]) on November 29, 2061 and to pay interest thereon from
November 29, 2021 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on May 29 and November 29 in each year, commencing May 29, 2022 at the rate of 3.100%
per annum, until the principal hereof is paid or made available for payment. 
 Method of Payment. The interest so payable, and
punctually paid or duly provided for, on any Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Record Date
for such interest, which shall be the date that is 15 calendar days before the Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Record Date and may either
be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice thereof having been
given to Holders of Notes not less than 10 days prior to such Special Record Date, all as more fully provided in said Indenture. Payment of the principal of (and premium, if any) and any such interest on this Note shall be made at the Corporate
Trust Office in U.S. Dollars. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 Authentication. Unless the
certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed as of the
date set forth below. 
 Dated: November 29, 2021 

 

					
	MOODY’S CORPORATION
		
	By:	 	  

		 	Name:	 	John J. Goggins
		 	Title:	 	Executive Vice President and General Counsel

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	Dated: November 29, 2021
	
	 COMPUTERSHARE TRUST COMPANY, N.A.

as successor to Wells Fargo,

		 	 National Association,
 as Trustee, certifies
that this is one of the Securities referred to in the Indenture.

		
	By:	 	  

		 	Authorized Signatory

  

  
 A-3 

 [FORM OF REVERSE OF NOTE] 

Indenture. This Note is one of a duly authorized issue of Securities of the Company (herein called the “Note” or
collectively, the “Notes”), issued and to be issued under an Indenture, dated as of August 19, 2010, as supplemented by a Fifteenth Supplemental Indenture dated November 29, 2021 (as so supplemented, herein called the
“Indenture”), between the Company and Computershare Trust Company, N.A. as successor to Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee,” which term includes any successor trustee under the
Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the
Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, initially limited in aggregate principal amount to
$[            ]. 
 Optional Redemption. The Notes are subject to
redemption at the Company’s option, in whole or in part, at any time prior to May 29, 2061, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed plus accrued and unpaid interest thereon to, but
excluding, the Redemption Date, and (ii) the sum, as determined by an Independent Investment Banker, of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (exclusive of interest accrued
to, but excluding, the Redemption Date) that would be due if the Notes matured on May 29, 2061 discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. 

Commencing on May 29, 2061, the Company may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption
price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. 

For purposes of determining the optional redemption price, the following definitions are applicable: 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term (“Remaining Life”) of the Notes to be redeemed (assuming that the Notes matured on May 29, 2061) that would be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes. 
 “Comparable
Treasury Price” means with respect to any redemption date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or
(2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such Quotations or, if only one such Quotation is obtained, such Quotation. 

  
 A-4 

 “Independent Investment Banker” means an independent investment banking
institution of national standing appointed by the Company, which may be one of the Reference Treasury Dealers. 
 “Reference Treasury
Dealer” means (1) BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, and their respective successors, and (2) any other primary U.S. government securities dealer in New York City that the Company
selects (each, a “Reference Treasury Dealer”). 
 “Reference Treasury Dealer Quotation” means with respect to each
Reference Treasury Dealer and any Redemption Date for the Notes, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue for the Notes (expressed in each case as a percentage of
its principal amount) quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Treasury Rate” means with respect to any Redemption Date, (1) the yield, under the heading which represents the average for
the immediately preceding week, appearing in the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which
establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is
within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such
yields on a straight line basis, rounding to the nearest month), (2) if the period from the Redemption Date to the maturity date of the notes to be redeemed is less than one year, the weekly average yield on actually traded United States Treasury
securities adjusted to a constant maturity of one year will be used, or (3) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to
the semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption
Date. The Treasury Rate shall be calculated on the third Business Day preceding the redemption date. 
 Notice of any redemption shall be
mailed at least 15 days but not more than 60 days before the Redemption Date to each registered Holder of the Notes to be redeemed. If money sufficient to pay the redemption price of all of the Notes (or portions thereof) to be redeemed on the
Redemption Date is deposited with the Trustee or Paying Agent on or before the Redemption Date, and unless the Company defaults in payment of the redemption price, on and after the Redemption Date, interest shall cease to accrue on the Notes or
portions of the Notes called for redemption. If fewer than all of the Notes are to be redeemed, and such Notes are at the time represented by a Global Security, the Depositary shall select by lot the particular interests to be redeemed. If the
Company elects to redeem fewer than all of the Notes, and any of such Notes are not represented by a Global Security, then the Trustee shall select the particular Notes to be redeemed in a manner it deems appropriate and fair (and the Depositary
shall select by lot the particular interests in any Global Security to be redeemed). 

  
 A-5 

 The Company may at any time, and from time to time, purchase the Notes at any price or
prices in the open market or otherwise. 
 Defaults and Remedies. If an Event of Default with respect to Notes shall occur and be
continuing, the principal of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

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

Restrictive Covenants. The Indenture does not limit the incurrence of additional debt by the Company or any of its Subsidiaries;
however, it does limit the creation of certain Liens and the entry into sale and leaseback transactions by the Company or any of its Restricted Subsidiaries. The limitations are subject to a number of important qualifications and exceptions. Once a
year, the Company must report to the Trustee on its compliance with these limitations. 
 Denominations, Transfer and Exchange. The
Notes are issuable only in registered form without coupons in minimum denominations of $2,000 and in integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes are
exchangeable for a like aggregate principal amount of Notes of any different authorized denomination or denominations, as requested by the Holder surrendering the same. 

As provided in the Indenture and subject to certain limitations therein set forth, including Section 3.06 of the Base Indenture, the
transfer of this Note is registerable in the Register, upon surrender of this Note for registration of transfer at the Registrar accompanied by a written request for transfer in form satisfactory to the Company and the Registrar duly executed by the
Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of any different authorized denomination or denominations and for the same aggregate principal amount, shall be issued to the designated transferee or
transferees. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company or the Trustee may
require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

  
 A-6 

 Persons Deemed Owners. Prior to due presentment of this Note for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment of principal of and premium, if any, and (subject to
Section 3.08 of the Base Indenture) interest, if any, on such Note and for all other purposes whatsoever, whether or not this Note be overdue, and neither the Company, the Trustee nor any agent shall of the Company or the Trustee shall be
affected by notice to the contrary. 
 Defined Terms. All terms used in this Note and not defined herein shall have the meanings
assigned to them in the Indenture. 

  
 A-7 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to the provisions hereof, check the box:  ☐ 

If you want to elect to have only part of the Note purchased by the Company pursuant to the provisions hereof, state the amount you elect to
have 
 purchased: $
                                        

 Date:
                                        
           
  

					
		  	Your	  	
		  	Signature:	  	  

		  		  	(Sign exactly as your name appears on the face of this Note)
			
		  	Tax	  	
		  	Identification	  	
		  	No.:	  	  

  

			
	Signature	  	
	Guarantee*:	  	                                      
              

 

	*	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to
the Trustee) 

  
 A-8EX-10.4

 Exhibit 10.4 

FORM OF INVESTMENT MANAGEMENT TRUST AGREEMENT 

THIS INVESTMENT MANAGEMENT TRUST AGREEMENT IS MADE EFFECTIVE AS OF
[                 ], 2021 (AS AMENDED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME, THIS “AGREEMENT”), BY AND BETWEEN TRAJECTORY ALPHA
ACQUISITION CORP., A DELAWARE CORPORATION (THE “COMPANY”), AND CONTINENTAL STOCK TRANSFER & TRUST COMPANY, A NEW YORK LIMITED PURPOSE TRUST COMPANY (THE “TRUSTEE”). 

WHEREAS, the Company’s registration statement on Form S-1, File
No. 333-253967 (the “Registration Statement”) and prospectus (the “Prospectus”) for the initial public offering of the Company’s units (the
“Units”), each of which consists of one share of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”), and one-half of one redeemable Public Warrant (as
defined in the Underwriting Agreement (as defined below)), each whole Public Warrant entitling the holder thereof to purchase one share of Common Stock (such initial public offering, the “Offering”), has been declared
effective as of the date hereof by the U.S. Securities and Exchange Commission; 
 WHEREAS, the Company has entered into that certain
underwriting agreement, dated the date hereof (as amended, supplemented or otherwise modified from time to time, the “Underwriting Agreement”), with Guggenheim Securities, LLC, as the underwriter (the
“Underwriter”); 
 WHEREAS, as described in the Registration Statement, an aggregate of $151,500,000 from the gross
proceeds of the Offering and sale of the Private Placement Warrants (as defined in the Underwriting Agreement) (or $174,225,000 if the Underwriter’s over-allotment option is exercised in full) will be delivered to the Trustee to be deposited
and held in a segregated trust account located at all times in the United States (the “Trust Account”) for the benefit of the Company and the holders of the Common Stock included in the Units issued in the Offering as
hereinafter provided (the amount to be delivered to the Trustee on the date hereof and any additional amount subsequently delivered to the Trustee for deposit into the Trust Account (and any interest earned on such amounts) is referred to as the
“Property,” the stockholders for whose benefit the Trustee shall hold the Property are referred to as the “Public Stockholders,” and the Public Stockholders and the Company are referred to together as
the “Beneficiaries”); 
 WHEREAS, pursuant to the Underwriting Agreement, a portion of the Property equal to
$5,250,000, or $6,037,500 if the Underwriter’s over-allotment option is exercised in full, is attributable to deferred underwriting discounts and commissions that will be payable by the Company to the Underwriter upon, and concurrently with,
the consummation of the Business Combination (as defined below) (the “Deferred Discount”); and 
 WHEREAS, the
Company and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property. 

 NOW THEREFORE, IT IS AGREED: 

1. Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to: 

(a) Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by the
Trustee in the United States at JPMorgan Chase Bank, N.A. (or at another U.S.-chartered commercial bank with consolidated assets of $100.0 billion or more) and at a brokerage institution selected by the Trustee that is reasonably satisfactory
to the Company; 
 (b) Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein; 

(c) In a timely manner, upon the written instruction of the Company, invest and reinvest the Property in solely U.S. government securities
within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of one-hundred-eighty-five (185) days or less, or in money market funds meeting the
conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government
treasury obligations, as determined by the Company, and the Trustee may not invest in any other securities or assets, it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s
instructions hereunder and the Trustee may earn bank credits or other consideration; 
 (d) Collect and receive, when due, all interest or
other income arising from the Property, which shall become part of the “Property,” as such term is used herein; 

(e) Promptly notify the Company and the Underwriter of all communications received by the Trustee with respect to the Property requiring
action by the Company; 
 (f) Supply any necessary information or documents as may be requested by the Company (or its authorized agents)
in connection with the Company’s preparation of the tax returns relating to assets held in the Trust Account or in connection with the preparation or completion of the audit of the Company’s financial statements by the Company’s
independent registered public accounting firm; 
 (g) Participate in any plan or proceeding for protecting or enforcing any right or
interest arising from the Property if, as and when instructed by the Company to do so; 
 (h) Render to the Company monthly written
statements of the activities of, and amounts in, the Trust Account reflecting all receipts and disbursements of the Trust Account; 

  
 2 

 (i) Commence liquidation of the Trust Account only after and promptly after
(x) receipt of, and only in accordance with, the terms of a letter from the Company (the “Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit A or
Exhibit B, as applicable, signed on behalf of the Company by the Chief Executive Officer, President, Chief Financial Officer, Treasurer, Secretary or chairman of the board of directors of the Company (the
“Board”) or another authorized officer of the Company and, in the case of Exhibit A, acknowledged and agreed to by the Underwriter and complete the liquidation of the Trust Account and distribute the
Property in the Trust Account, including interest earned on the funds held in the Trust Account (net of amounts withdrawn in accordance with this Agreement and less up to $100,000 of interest that may be released to the Company to pay dissolution
expenses), only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date which is the later of (i) eighteen (18) months after the closing of the Offering, (ii) such later date as
provided by Section 9.1(c) of the Company’s amended and restated certificate of incorporation (as further amended, supplemented or otherwise modified from time to time, the “Certificate of Incorporation”) and (iii) such
later date as may be approved by the Company’s stockholders in accordance with the Certificate of Incorporation, if the Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be
liquidated in accordance with the procedures set forth in the Termination Letter attached hereto as Exhibit B and the Property in the Trust Account, including interest earned on the funds held in the Trust Account (net of
amounts withdrawn in accordance with this Agreement and less up to $100,000 of interest that may be released to the Company to pay dissolution expenses) shall be distributed to the Public Stockholders of record as of such date; 

(j) Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as
Exhibit C (a “Tax Payment Withdrawal Instruction”), withdraw from the Trust Account and distribute to the Company the amount of interest earned on the Property requested by the Company to cover any
tax obligation owed by the Company as a result of assets of the Company or interest or other income earned on the Property, which amount shall be delivered directly to the Company, and the Company shall forward such amount to the relevant taxing
authority; provided, however, that, to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the Company in
writing to make such distribution, so long as there is no reduction in the principal amount per share initially deposited in the Trust Account; provided, further, that, if the tax to be paid is a franchise tax, the written request by
the Company to make such distribution shall be accompanied by a copy of the franchise tax bill from the relevant taxing authority for the Company. The written request of the Company referenced above shall constitute presumptive evidence that the
Company is entitled to such funds, and the Trustee shall have no responsibility to look beyond such request; 
 (k) [Reserved]; 

(l) Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as
Exhibit D (a “Stockholder Redemption Withdrawal Instruction”), the Trustee shall distribute to the Public Stockholders on behalf of the Company the amount requested by the Company to be used to
redeem shares of the Common Stock from the Public Stockholders properly submitted in connection with a stockholder vote to approve an amendment to the Certificate of Incorporation that would affect the substance or timing of the Company’s
obligation to redeem one-hundred percent (100%) of its public shares of the Common Stock if the Company has not consummated an initial Business Combination within such time as is described in the Certificate
of Incorporation or with respect to any other material provision relating to stockholders’ rights or pre-initial Business Combination activity. The written request of the Company referenced above shall
constitute presumptive evidence that the Company is entitled to distribute such funds, and the Trustee shall have no responsibility to look beyond such request; and 

 (m) Not make any withdrawals or distributions from the Trust Account other than pursuant to
Section 1(i), (j) or (l) above. 
 2. Agreements and Covenants of the Company. The
Company hereby agrees and covenants to: 
 (a) Give all instructions to the Trustee hereunder in writing, signed on behalf of the Company by
the Chief Executive Officer, President, Chief Financial Officer, Treasurer, Secretary or chairman of the Board. In addition, except with respect to its duties under Sections 1(i), 1(j) and 1(l), the Trustee
shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written
instructions; provided, however, that the Company shall promptly confirm such instructions in writing; 
 (b) Subject to
Section 4, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable and documented out-of-pocket expenses,
including reasonable outside counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any
claim, or in connection with any claim or demand, which arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for expenses and losses resulting from the
Trustee’s or its representatives’ gross negligence, fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee
intends to seek indemnification under this Section 2(b), it shall notify the Company in writing of such claim (the “Indemnified Claim”). The Trustee shall have the right to conduct and manage the
defense against such Indemnified Claim; provided, however, that the Trustee shall obtain the consent of the Company with respect to the selection of counsel; provided, further, that the Company may conduct and manage the
defense against any Indemnified Claim if the Trustee does not promptly take reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company. The Company may
participate in any such action with its own counsel; 
 (c) Pay the Trustee the fees set forth on Schedule A,
including an initial set-up fee, annual administration fee and transaction processing fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the
Property shall not be used to pay such fees unless and until the property is distributed to the Company pursuant to Sections 1(i). The Company shall pay the Trustee the initial set-up
fee and the first annual administration fee at the consummation of the Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata basis) with respect to any period after the liquidation of the Trust Account. The
Company shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(c), Schedule A and as may be provided in Section 2(b);

  
 4 

 (d) In connection with any vote of the Company’s stockholders regarding a merger,
consolidation, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination of the Company with one or more businesses or entities (the “Business Combination”), provide to the
Trustee an affidavit or certificate of the inspector of elections for the stockholder meeting verifying the vote of such stockholders regarding such Business Combination; 

(e) Provide the Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect
to any proposed withdrawal from the Trust Account promptly after it issues the same; 
 (f) Unless otherwise agreed between the Company and
the Underwriter, ensure that any Instruction Letter delivered in connection with a Termination Letter substantially in the form attached hereto as Exhibit A expressly provides that the Deferred Discount is paid directly to
the account(s) as directed by the Underwriter prior to any transfer of the funds held in the Trust Account to the Company or any other person; 

(g) Instruct the Trustee to make only those distributions that are permitted under this Agreement and refrain from instructing the Trustee to
make any distributions that are not permitted under this Agreement; and 
 (h) Within four (4) business days after the Underwriter
exercises the over-allotment option (or any unexercised portion thereof) or such over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount, which shall in no event be less than $5,250,000, or
$6,037,500 if the Underwriter’s overallotment option is exercised in full. 
 3. Limitations of Liability. The Trustee shall
have no responsibility or liability to: 
 (a) Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any
agreement or document other than this Agreement and that which is expressly set forth herein; 
 (b) Take any action with respect to the
Property, other than as directed in Section 1, and the Trustee shall have no liability to any third party except for liability arising out of the Trustee’s or its representatives’ gross negligence, fraud or
willful misconduct; 
 (c) Institute any proceeding for the collection of any principal and income arising from, or institute, appear in or
defend any proceeding of any kind with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient
to pay any reasonably incurred expenses incident thereto; 
 (d) Refund any depreciation in principal of any Property; 

(e) Assume that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided
otherwise in such designation or unless the Company shall have delivered a written revocation of such authority to the Trustee; 

  
 5 

 (f) The other parties hereto or to anyone else for any action taken or omitted by it, or
any action suffered by it to be taken or omitted, in good faith and in the Trustee’s best judgment, except for the Trustee’s or its representatives’ gross negligence, fraud or willful misconduct. The Trustee may rely conclusively and
shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel (including counsel chosen by the Trustee, which counsel may be the Company’s counsel), statement, instrument, report or other paper or
document (not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained) which the Trustee believes, in good faith and with reasonable care, to
be genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced
by a written instrument delivered to the Trustee, signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto; 

(g) Verify the accuracy of the information contained in the Registration Statement; 

(h) Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as
contemplated by the Registration Statement; 
 (i) File information returns with respect to the Trust Account with any local, state or
federal taxing authority or provide periodic written statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the Property; 

(j) Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and
activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, without limitation, franchise and income tax obligations, except pursuant to Section 1(j);
or 
 (k) Verify calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to
Sections 1(i), 1(j) and 1(l). 
 4. Trust Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (a “Claim”) to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust
Account that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation, under Section 2(b) or 2(c), the Trustee shall pursue such
Claim solely against the Company and its assets outside the Trust Account and not against the Property or any monies in the Trust Account. 

  
 6 

 5. Termination and Replacement of Trustee. This Agreement shall terminate as follows:

 (a) If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its
reasonable efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the Company notifies the Trustee that a successor trustee has been appointed and has agreed to
become subject to the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including, without limitation, the transfer of copies of the reports and statements relating to the Trust Account
and any other reasonable transfer requests that the Company may make, whereupon this Agreement shall terminate; provided, however, that, in the event that the Company does not locate a successor trustee within ninety (90) days of
receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State of New York or with the United States District Court for the Southern District of New York
and upon such deposit, the Trustee shall be immune from any liability whatsoever. 
 (b) At such time that the Trustee has completed the
liquidation of the Trust Account and its obligations in accordance with the provisions of Section 1(i) and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate
except with respect to Section 2(b). 
 (c) If the Offering is not consummated within ten (10) business days
of the date of this Agreement, in which case any funds received by the Trustee from the Company or Trajectory Alpha Sponsor LLC, a Delaware limited liability company, as applicable, shall be returned promptly following the receipt by the Trustee of
written instructions from the Company. 
 6. Miscellaneous. 

(a) The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds
transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to
believe unauthorized persons may have obtained access to such confidential information or of any change in its authorized personnel. In executing funds transfers, the Trustee shall rely upon all information supplied to it by the Company, including,
account names, account numbers and all other identifying information relating to a Beneficiary, Beneficiary’s bank or intermediary bank. Except for any liability arising out of the Trustee’s or its representatives’ gross negligence,
fraud or willful misconduct, the Trustee shall not be liable for any loss, liability or out-of-pocket expense resulting from any error in the information or transmission
of the funds. 
 (b) This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. This Agreement may be executed in several original or facsimile counterparts, each one of which
shall constitute an original, and together shall constitute but one instrument. 

  
 7 

 (c) This Agreement contains the entire agreement and understanding of the parties hereto
with respect to the subject matter hereof. This Agreement or any provision hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by each of the parties hereto. 

(d) Sections 1(i) and 1(j) may only be changed, amended or modified pursuant to
Section 6(c) with the Consent of the Stockholders, it being the specific intention of the parties hereto that each of the Company’s stockholders is, and shall be, a third party beneficiary of this
Section 6(d) with the same right and power to enforce this Section 6(d) as the other parties hereto. For purposes of this Section 6(d), the “Consent of the
Stockholders” means receipt by the Trustee of a certificate from the inspector of elections of the stockholder meeting certifying that either (i) the Company’s stockholders of record as of a record date established in
accordance with Section 213(a) of the Delaware General Corporation Law, as amended (the “DGCL”) (or any successor rule), who hold sixty-five percent (65%) or more of all then outstanding shares of the Common Stock and
Class B common stock, par value $0.0001 per share, of the Company voting together as a single class, have voted in favor of such change, amendment or modification, or (ii) the Company’s stockholders of record as of the record date who
hold sixty-five percent (65%) or more of all then outstanding shares of the Common Stock and Class B common stock, par value $0.0001 per share, of the Company voting together as a single class, have delivered to such entity a signed writing
approving such change, amendment or modification. No such amendment shall affect any Public Stockholder who has otherwise indicated his, her or its election to redeem his, her or its shares of Common Stock in connection with a stockholder vote
sought to amend the Certificate of Incorporation. Except for any liability arising out of the Trustee’s or its representatives’ gross negligence, fraud or willful misconduct, the Trustee may rely conclusively on the certification from the
inspector or elections referenced above and shall be relieved of all liability to any party for executing the proposed amendment in reliance thereon. 

(e) The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, County of
New York and State of New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY. 

(f) Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and
shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or by facsimile or email transmission: 

if to the Trustee, to: 

Continental Stock Transfer & Trust Company 

1 State Street 

30th Floor 

New York, New York 10004 

Attention: Francis Wolf and Celeste Gonzalez 

E-mail: fwolf@continentalstock.com 

             cgonzalez@continentalstock.com 

  
 8 

 if to the Company, to: 

Trajectory Alpha Acquisition Corp. 

99 Wall Street, #5801 

New York, New York 10005 

Attention: Peter Bordes and Michael E.S. Frankel 

in each case, with copies to: 

Paul, Weiss, Rifkind, Wharton & Garrison LLP 

1285 Avenue of the Americas 

New York, New York 10019 

Attention: Raphael R. Russo 

E-mail: rrusso@paulweiss.com 

and 

Guggenheim Securities, LLC 

330 Madison Avenue 

New York, New York 10017 

Attention: William Ortner 

E-mail: william.ortner@guggenheimpartners.com 

in each case, with copies to: 

White & Case LLP 

1221 Avenue of the Americas 

New York, New York 10020 

Attention: General Counsel 

(g) This Agreement may not be assigned by the Trustee without the prior consent of the Company. 

(h) Each of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into
this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make any claims or proceed against the Trust Account, including by way of
set-off, and shall not be entitled to any funds in the Trust Account under any circumstance. 
 (i)
Each of the Company and the Trustee hereby acknowledges and agrees that the Underwriter is a third party beneficiary of this Agreement. 

(j) The Trustee shall perform its duties under this Agreement in compliance with all applicable laws, including those relating to privacy,
data protection and information security, shall keep confidential all information (including personally identifiable information and personal data) relating to this Agreement and, except as required by applicable law, shall not use such information
for any purpose other than the performance of the Trustee’s obligations under this Agreement. 

  
 9 

 (k) Except as specified herein, no party to this Agreement may assign its rights or
delegate its obligations hereunder to any other person or entity. 
 (l) Notwithstanding anything to the contrary in this Agreement, for
purposes of all services provided pursuant to this Agreement (the “Services”), the Trustee shall continuously maintain business continuity and disaster recovery plans (including regular updates) that are consistent with then
current industry standards applicable to similarly situated providers of services comparable to the Services. Without limiting the generality of the foregoing, the business continuity and/or disaster recovery plans will cover the computer software,
computer hardware, telecommunications capabilities and other similar or related items of automated, computerized, software system(s) and network(s) or system(s) and will be designed, among other things, to permit the ongoing operation and
functionality of the Services on a continuous basis and/or to facilitate the continuation and/or resumption of, the Services. In the event of the disruption in the Services for any reason including the occurrence of a force majeure event that causes
the Trustee to be required to allocate limited resources between or among the Trustee’s affected customers, the Trustee shall not do so in a manner that is intended to treat the Company less favorably than other similarly situated affected
customers generally. In addition, in the event the Trustee has knowledge that there is, or has been, an incident affecting the integrity or availability of the Trustee’s business continuity and disaster recovery system, the Trustee shall
endeavor to notify the Company in writing, as promptly as practicable, of the incident. 
 (m) This Agreement may be executed in one or
more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same agreement. Only one counterpart signed by the party against whom enforceability is sought needs to be
produced to evidence the existence of this Agreement. 
 [Signature Page Follows] 

  
 10 

 IN WITNESS WHEREOF, the parties have duly executed this Investment Management Trust
Agreement as of the date first written above. 
  

			
	 CONTINENTAL STOCK TRANSFER &

TRUST COMPANY, as Trustee

 
			
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	TRAJECTORY ALPHA ACQUISITION CORP.

 
			
		
	By:	 	 
		 	Name:
		 	Title:

 [Signature Page to Investment Management Trust Agreement—Trajectory Alpha Acquisition Corp.]

 SCHEDULE A 

TRUSTEE’S FEES 

 

					
	 Fee Item
	  	 Time and Method of Payment
	  	 Amount

	Initial set-up fee	  	Initial closing of the Offering by wire transfer	  	$3,500.00
			
	Annual administration fee	  	First year, initial closing of the Offering by wire transfer; thereafter on the anniversary of the closing date of the Offering by wire transfer or check	  	$10,000.00
			
	Transaction processing fee for disbursements to the Company pursuant to Sections 1(i), (j) and (l)	  	Billed by the Trustee to the Company pursuant to Section 1	  	$250.00
			
	IPO closing fee	  	Initial closing of the Offering by wire transfer	  	$4,500.00
			
	Paying agent services as required pursuant to Sections 1(i) and (l)	  	Billed to the Company upon delivery of service pursuant to Sections 1(i) and (l)	  	Prevailing rates

  
 Sch. A-1 

 EXHIBIT A 

[Letterhead of Company] 

[Insert date] 
 Continental Stock
Transfer & Trust Company 
 1 State Street, 30th Floor 

New York, New York 10004 
 Attention: Francis Wolf and Celeste
Gonzalez 
 Re: Trust Account - Termination Letter 

Dear Mr. Wolf and Ms. Gonzalez: 
 Pursuant
to Section 1(i) of the Investment Management Trust Agreement, dated as of [            ], 2021 (as amended, supplemented or otherwise modified from time to time, the “Trust
Agreement”), by and between Trajectory Alpha Acquisition Corp. (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), this is to advise you that the
Company has entered into an agreement with [Target] (the “Target Business”) to consummate a business combination with the Target Business (the “Business Combination”) on or about [Date].
The Company shall notify you at least seventy-two (72) hours in advance of the actual date of the consummation of the Business Combination (the “Consummation Date”). Capitalized
terms used but not defined herein shall have the meanings set forth in the Trust Agreement. 
 In accordance with the terms of the Trust
Agreement, we hereby authorize you to commence the liquidation of all of the assets in the Trust Account, and to transfer the proceeds into the trust operating account at JPMorgan Chase Bank, N.A. to the effect that, on the Consummation Date, all of
the funds held in the Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct on the Consummation Date (including as directed to it by the Underwriter) (with respect to the Deferred
Discount). It is acknowledged and agreed that, while the funds are on deposit in the trust operating account at JPMorgan Chase Bank, N.A., awaiting distribution, the Company will not earn any interest or dividends. 

On the Consummation Date, (i) counsel for the Company shall deliver to you written notification that the Business Combination has been
consummated or will be consummated substantially concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”) and (ii) the Company shall deliver to you (a) [an
affidavit][a certificate] of the Chief Executive Officer of the Company, which verifies that the Business Combination has been approved by a vote of the Company’s stockholders, if a stockholder vote is held, and (b) a joint written
instruction signed by the Company and the Underwriter with respect to the transfer of the funds held in the Trust Account, including payment of amounts owed to public stockholders who have properly exercised their redemptions rights and payment of
amounts of the Deferred Discount to the underwriter from the Trust Account directly to the account or accounts directed by the Underwriter (the “Instruction Letter”). You are hereby directed and authorized to transfer the
funds held in the Trust Account immediately upon your receipt of the Notification and the Instruction Letter in accordance with the terms of the Instruction Letter. In the event that certain 

  
 Ex. A-1 

 
deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company in writing of the same and the Company shall direct you as to
whether such funds should remain in the Trust Account and be distributed after the Consummation Date to the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating
the Trust Account, your obligations under the Trust Agreement shall be terminated. 
 In the event that the Business Combination is not
consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the
funds held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately following the Consummation Date as set forth in such written instructions as soon thereafter as possible.

  

			
	Very truly yours,
	
	TRAJECTORY ALPHA ACQUISITION CORP.

 
			
		
	By:	 	 
		 	Name:
		 	 Title:

  

			
	Acknowledged:
	
	GUGGENHEIM SECURITIES, LLC

			
		
	By:	 	 
		 	Name:
		 	Title:

  
 Ex. A-2 

 EXHIBIT B 

[Letterhead of Company] 

[Insert date] 
 Continental Stock
Transfer & Trust Company 
 1 State Street, 30th Floor 

New York, New York 10004 
 Attention: Francis Wolf and Celeste
Gonzalez 
 Re: Trust Account - Termination Letter 

Dear Mr. Wolf and Ms. Gonzalez: 
 Pursuant
to Section 1(i) of the Investment Management Trust Agreement, dated as of [            ], 2021 (as amended, supplemented or otherwise modified from time to time, the “Trust
Agreement”), by and between Trajectory Alpha Acquisition Corp. (the “Company”) and Continental Stock Transfer & Trust Company, this is to advise you that the Company has been unable to effect a Business
Combination with a target business within the time frame specified in the Certificate of Incorporation, as described in the Company’s Prospectus relating to the Offering. Capitalized terms used but not defined herein shall have the meanings set
forth in the Trust Agreement. 
 In accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets
in the Trust Account and to transfer the total proceeds into a segregated account held by you on behalf of the Beneficiaries to await distribution to the Public Stockholders. The Company has selected [insert completion deadline] as the
effective date for the purpose of determining when the Public Stockholders will be entitled to receive their share of the liquidation proceeds. You agree to be the paying agent of record and, in your separate capacity as paying agent, agree to
distribute said funds directly to the Public Stockholders in accordance with the terms of the Trust Agreement and the Certificate of Incorporation. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed
expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise provided in Section 1(i) of the Trust Agreement. 

 

			
	Very truly yours,
	
	TRAJECTORY ALPHA ACQUISITION CORP.

 
			
		
	By:	 	 
		 	Name:
		 	Title:

  

	cc:	 Guggenheim Securities, LLC 

  
 Ex. B-1 

 EXHIBIT C 

[Letterhead of Company] 

[Insert date] 
 Continental Stock
Transfer & Trust Company 
 1 State Street, 30th Floor 

New York, New York 10004 
 Attention: Francis Wolf and Celeste
Gonzalez 
 Re: Trust Account - Tax Payment Withdrawal Instruction 

Dear Mr. Wolf and Ms. Gonzalez: 
 Pursuant
to Section 1(j) of the Investment Management Trust Agreement, dated as of [            ], 2021 (as amended, supplemented or otherwise modified from time to time, the “Trust
Agreement”), by and between Trajectory Alpha Acquisition Corp. (the “Company”) and Continental Stock Transfer & Trust Company, the Company hereby requests that you deliver to the Company $___________ of
the interest income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement. 

The Company needs such funds to pay for the tax obligations as set forth on the attached tax return or tax statement. In accordance with the
terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating account at: 

[WIRE INSTRUCTION INFORMATION] 
  

			
	Very truly yours,
	
	TRAJECTORY ALPHA ACQUISITION CORP.

 
			
		
	By:	 	 
		 	Name:
		 	Title:

  

	cc:	 Guggenheim Securities, LLC 

  
 Ex. C-1 

 EXHIBIT D 

[Letterhead of Company] 

[Insert date] 
 Continental Stock
Transfer & Trust Company 
 1 State Street, 30th Floor 

New York, New York 10004 
 Attention: Francis Wolf and Celeste
Gonzalez 
 Re: Trust Account - Stockholder Redemption Withdrawal Instruction 

Dear Mr. Wolf and Ms. Gonzalez: 
 Pursuant
to Section 1(l) of the Investment Management Trust Agreement, dated as of [            ], 2021 (as amended, supplemented or otherwise modified from time to time, the “Trust
Agreement”), by and between Trajectory Alpha Acquisition Corp. (the “Company”) and Continental Stock Transfer & Trust Company, the Company hereby requests that you deliver to the redeeming Public
Stockholders of the Company $__________ of the principal and interest income earned on the Property as of the date hereof into a segregated account held by you on behalf of the Beneficiaries for distribution to the Public Stockholders who have
requested redemption of their shares. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement. 

The Company needs such funds to pay the Public Stockholders who have properly elected to have their shares of Common Stock redeemed by the
Company in connection with a stockholder vote to approve an amendment to the Certificate of Incorporation. As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter. 

 

			
	TRAJECTORY ALPHA ACQUISITION CORP.

 
			
		
	By:	 	 
		 	Name:
		 	Title:

  

	cc:	 Guggenheim Securities, LLC 

  
 Ex. D-1

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