Document:

Document

Exhibit 10.2

GUARANTY
This Guaranty (as amended, supplemented or otherwise modified in accordance with the terms hereof and in effect from time to time, this "Guaranty") is made as of the 26th day of July, 2022 by Bunge Limited, a company incorporated under the laws of Bermuda (together with any successors or assigns permitted hereunder, "BL" or "Guarantor") to JPMorgan Chase Bank, N.A. in its capacity as the administrative agent (together with its successors and assigns, the "Administrative Agent") under the Term Loan Agreement, dated as of the 26th day of July, 2022 (as amended, supplemented or otherwise modified from time to time in accordance with the terms thereof, the "Credit Agreement"), among Bunge Limited Finance Corp., a Delaware corporation ("BLFC"), the Administrative Agent and the financial institutions from time to time party thereto (each a "Lender" and collectively, the "Lenders"), for the benefit of the Lenders.     
WITNESSETH:
WHEREAS, pursuant to the Credit Agreement the Lenders have agreed to make a term loan denominated in Dollars (the "Loans") to BLFC from time to time;
WHEREAS, the execution and delivery of this Guaranty is a condition precedent to the effectiveness of the Credit Agreement; 
NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, the parties hereby agree as follows:
Section 1.    Definitions.  
(a)    For all purposes of this Guaranty, except as otherwise expressly provided in Annex A hereto or unless the context otherwise requires, capitalized terms used herein shall have the meanings assigned to such terms in the Credit Agreement.
(b)    Notwithstanding any other provision contained herein or in the other Loan Documents, all terms of an accounting or financial nature used herein and in the other Loan Documents shall be construed, and all computations of amounts and ratios referred to herein and in the other Loan Documents shall be made, and prepared:
(i)    in accordance with GAAP (including principles of consolidation where appropriate), and all accounting or financial terms shall have the meanings ascribed to such terms by GAAP; provided, however, that all accounting terms used in Section 8.2 below (and all defined terms used in the definition of any accounting term used in Section 8.2 below) shall have the meaning given to such terms (and defined terms) under GAAP as in effect on the date hereof applied on a basis consistent with those used in preparing the financial statements referred to in Section 7(a) below.  In the event of any change after the date hereof in GAAP, and if such change would affect the computation of any of the financial covenants set forth in Section 8.2 below, then the parties hereto agree to endeavor, in good faith, to agree upon an amendment to this Guaranty that would adjust such financial covenants in a manner that would preserve the original intent thereof, but would allow compliance therewith to be determined in accordance with the Guarantor’s financial statements at that time, provided that, until so amended such financial covenants shall continue to be computed in accordance with GAAP prior to such change therein; and

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(ii)    without giving effect to any election under Statement of Financial Accounting Standards 159 (or any other Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of BLFC, the Guarantor or any of their Subsidiaries at "fair value", as defined therein.
Notwithstanding any other provision contained herein, all obligations of the Guarantor, BLFC and any of their respective Subsidiaries that are or would be characterized as an operating lease as determined in accordance with GAAP as in effect on December 14, 2018 (whether or not such operating lease was in effect on such date) shall continue to be accounted for as an operating lease (and not as a capital lease) for purposes of the Loan Documents regardless of any change in GAAP following December 14, 2018  (or any change in the implementation in GAAP for future periods that are contemplated as of December 14, 2018) that would otherwise require such obligation to be re-characterized as a capital lease and the Guarantor, BLFC and their respective Subsidiaries shall continue to provide financial reporting which differentiates between operating leases and capital leases in accordance with GAAP as in effect on December 14, 2018.
Section 2.    Guaranty.  Subject to the terms and conditions of this Guaranty, the Guarantor hereby unconditionally and irrevocably guarantees (collectively, the "Guaranty Obligations") the prompt and punctual payment of all Obligations due and owing (whether at the stated maturity, by acceleration or otherwise) under the Credit Agreement and the other Loan Documents whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred.  This Guaranty is a guaranty of payment and not of collection.  All payments by the Guarantor under this Guaranty shall be made in Dollars and (i) with respect to Loans, shall be made to the Administrative Agent for disbursement pro rata (determined at the time such payment is sought) to the Lenders in accordance with their respective Aggregate Exposure Percentage, (ii) with respect to fees, expenses and indemnifications owed to the Lenders, shall be made to the Administrative Agent for disbursement pro rata (determined at the time such payment is sought) to the Lenders in accordance with their respective Aggregate Exposure Percentages (except as otherwise provided in the Credit Agreement with respect to Defaulting Lenders) and (iii) with respect to fees, expenses and indemnifications owed to the Administrative Agent in its capacity as such, shall be made to the Administrative Agent.  This Guaranty shall remain in full force and effect until the Guaranty Obligations are paid in full and the Commitments are terminated, notwithstanding that from time to time prior thereto BLFC may be free from any payment obligations under the Loan Documents.
Section 3.    Guaranty Absolute.  The Guarantor guarantees that the Guaranty Obligations will be paid, regardless of any applicable law, regulation or order now or hereinafter in effect in any jurisdiction affecting any of such terms or the rights of the Administrative Agent or any Lender with respect thereto.  The liability of the Guarantor under this Guaranty shall be absolute and unconditional irrespective of:
(a)    Any lack of validity or enforceability of or defect or deficiency in the Credit Agreement, any Transaction Document or any Loan Document or any other agreement or instrument executed in connection with or pursuant thereto;
(b)    Any change in the time, manner, terms or place of payment of, or in any other term of, all or any of the Guaranty Obligations, or any other amendment or waiver of or any consent to departure from the Credit Agreement, any Transaction Document or any Loan Document or any other agreement or instrument relating thereto or executed in connection therewith or pursuant thereto;
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(c)    Any sale, exchange or non-perfection of any property standing as security for the liabilities hereby guaranteed or any liabilities incurred directly or indirectly hereunder or any setoff against any of said liabilities, or any release or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Guaranty Obligations;
(d)    The failure of the Administrative Agent or a Lender to assert any claim or demand or to enforce any right or remedy against BLFC or any other Person hereunder or under the Credit Agreement or any Transaction Document or any Loan Document;
(e)    Any failure by BLFC in the performance of any obligation with respect to the Credit Agreement or any other Loan Document;
(f)    Any change in the corporate existence, structure or ownership of BLFC, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting BLFC or its assets or resulting release or discharge of any of the Guaranty Obligations;
(g)    Any other circumstance which might otherwise constitute a defense available to, or a discharge of, the Guarantor, BLFC or any other Person (including any other guarantor) that is a party to any document or instrument executed in respect of the Guaranty Obligations;
(h)    Any limitation of BLFC's obligations pursuant to subsection 8.16(b) of the Credit Agreement; or
(i)    Any law, regulation, decree or order of any jurisdiction, or any other event, affecting any term of any Guaranty Obligations or the Administrative Agent's or the Lenders' rights with respect thereto, including, without limitation: (A) the application of any such law, regulation, decree or order, including any prior approval, which would prevent the exchange of a currency other than Dollars for Dollars or the remittance of funds outside of such jurisdiction or the unavailability of Dollars in any legal exchange market in such jurisdiction in accordance with normal commercial practice; or (B) a declaration of banking moratorium or any suspension of payments by banks in such jurisdiction or the imposition by such jurisdiction or any Governmental Authority thereof of any moratorium on, the required rescheduling or restructuring of, or required  approval of payments on, any indebtedness in such jurisdiction; or (C) any expropriation, confiscation, nationalization or requisition by such country or any Governmental Authority that directly or indirectly deprives BLFC of any assets or their use or of the ability to operate its business or a material part thereof; or (D) any war (whether or not declared), insurrection, revolution, hostile act, civil strife or similar events occurring in such jurisdiction which has the same effect as the events described in clause (A), (B) or (C) above (in each of the cases contemplated in clauses (A) through (D) above, to the extent occurring or existing on or at any time after the date of this Guaranty).
The obligations of the Guarantor under this Guaranty shall not be affected by the amount of credit extended to BLFC, any repayment by BLFC to the Administrative Agent or the Lenders (in each case, other than the full and final payment of all of the Guaranty Obligations), the allocation by the Administrative Agent or the Lenders of any repayment, any compromise or 
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discharge of the Guaranty Obligations, any application, release or substitution of collateral or other security therefor, the release of any guarantor, surety or other Person obligated in connection with any document or instrument executed in respect of the Guaranty Obligations, or any further advances to BLFC.
Section 4.    Waiver.  The Guarantor hereby waives (a) promptness, diligence, notice of acceptance, presentment, demand, protest, notice of protest and dishonor, notice of default, notice of intent to accelerate, notice of acceleration and any other notice with respect to any of the Guaranty Obligations and this Guaranty, (b) any requirement that the Administrative Agent or the Lenders protect, secure, perfect or insure any security interest or Lien on any property subject thereto or exhaust any right or take any action against BLFC or any other Person or entity or any collateral or that BLFC or any other Person or entity be joined in any action hereunder, (c) the defense of the statute of limitations in any action under this Guaranty or for the collection or performance of the Guaranty Obligations, (d) any defense arising by reason of any lack of corporate authority, (e) any defense based upon any guaranteed party's errors or omissions in the administration of the Guaranty Obligations except to the extent that any error or omission is caused by such guaranteed party's bad faith, gross negligence or willful misconduct (as finally determined by a court of competent jurisdiction), (f) any rights to set-offs and counterclaims and (g) any defense based upon an election of remedies which destroys or impairs the subrogation rights of the Guarantor or the right of the Guarantor to proceed against BLFC or any other obligor of the Guaranty Obligations for reimbursement.  All dealings between BLFC or the Guarantor, on the one hand, and the Administrative Agent and the Lenders, on the other hand, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Guaranty.  Should the Administrative Agent seek to enforce the obligations of the Guarantor hereunder by action in any court, the Guarantor waives any necessity, substantive or procedural, that a judgment previously be rendered against BLFC or any other Person, or that any action be brought against BLFC or any other Person, or that BLFC or any other Person should be joined in such cause.  Such waiver shall be without prejudice to the Administrative Agent at its option to proceed against BLFC or any other Person, whether by separate action or by joinder.  The Guarantor further expressly waives each and every right to which it may be entitled by virtue of the suretyship law of the State of New York or any other applicable jurisdiction.
Section 5.    Several Obligations; Continuing Guaranty.  The obligations of the Guarantor hereunder are separate and apart from BLFC or any other Person (other than the Guarantor), and are primary obligations concerning which the Guarantor is the principal obligor.  The Guarantor agrees that this Guaranty shall not be discharged except by payment in full of the Guaranty Obligations, termination of the Commitments and complete performance of the obligations of the Guarantor hereunder. The obligations of the Guarantor hereunder shall not be affected in any way by the release or discharge of BLFC from the performance of any of the Guaranty Obligations, whether occurring by reason of law or any other cause, whether similar or dissimilar to the foregoing.  
Section 6.    Subrogation Rights.  If any amount shall be paid to the Guarantor on account of subrogation rights at any time when all the Guaranty Obligations shall not have been paid in full, such amount shall be held in trust for the benefit of the Administrative Agent and shall forthwith be paid to the Administrative Agent to be applied to the Guaranty Obligations as specified in the Loan Documents.  If (a) the Guarantor makes a payment to the Administrative Agent of all or any part of the Guaranty Obligations and (b) all the Guaranty Obligations have been paid in full and the Commitments have terminated, the Administrative Agent will, at the Guarantor's request, execute and deliver to the Guarantor appropriate documents, without 
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recourse and without representation or warranty of any kind whatsoever, necessary to evidence the transfer by subrogation to the Guarantor of any interest in the Guaranty Obligations resulting from such payment by the Guarantor.  The Guarantor hereby agrees that it shall have no rights of subrogation with respect to amounts due to the Administrative Agent or the Lenders until such time as all obligations of BLFC to the Lenders and the Administrative Agent have been paid in full, the Commitments have been terminated and the Credit Agreement has been terminated.
Section 7.    Representations and Warranties.  The Guarantor hereby represents and warrants as follows:
(a)    Financial Condition.
(i)    The consolidated balance sheet of the Guarantor and its consolidated Subsidiaries as at December 31, 2021 and the related consolidated statements of income for the fiscal year ended on such date, reported on by the Guarantor's independent public accountants, copies of which have heretofore been furnished to the Administrative Agent, are complete and correct, in all material respects, and present fairly the financial condition of the Guarantor and its consolidated Subsidiaries as at such date, and the results of operations for the fiscal year then ended.  Such financial statements, including any related schedules and notes thereto, have been prepared in accordance with GAAP applied consistently throughout the periods involved (except as approved by the external auditors and as disclosed therein, if any).
(ii)    Except as disclosed in Schedule V attached hereto, neither the Guarantor nor its consolidated Subsidiaries had, at the date of the most recent balance sheet referred to above, any material guarantee obligation, contingent liability (as defined in accordance with GAAP), or any long-term lease or unusual forward or long-term commitment, including, without limitation, any interest rate or foreign currency swap or exchange transaction, which is not reflected in the foregoing statements or in the notes thereto, except for guarantees, indemnities or similar obligations of the Guarantor or a consolidated Subsidiary supporting obligations of one Subsidiary to another Subsidiary.
(iii)    During the period from December 31, 2021 to and including the date hereof, except as disclosed in Schedule V attached hereto, neither the Guarantor nor its consolidated Subsidiaries has sold, transferred or otherwise disposed of any material part of its business or property, nor has it purchased or otherwise acquired any business or property (including any capital stock of any other Person) material in relation to the consolidated financial condition of the Guarantor and its consolidated Subsidiaries at December 31, 2021.
(b)    No Change.  Since December 31, 2021, except as disclosed in Schedule I hereof, there has been no development or event which has had or could, in the Guarantor's good faith reasonable judgment, reasonably be expected to have a Material Adverse Effect.
(c)    Corporate Existence; Compliance with Law.  The Guarantor and each of its Subsidiaries (i) is duly organized and validly existing under the laws of the jurisdiction of its incorporation, (ii) has the corporate power and authority, and the legal 
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right, to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged, (iii) is duly qualified under the laws of each jurisdiction where its ownership, lease or operation of property or the conduct of its business requires such qualification, except where the failure to be so duly qualified could not reasonably be expected to have a Material Adverse Effect and (iv) is in compliance with all Requirements of Law and Contractual Obligations, except any non-compliance which could not reasonably be expected to have a Material Adverse Effect.
(d)    Corporate Power; Authorization; Enforceable Obligations.  The Guarantor and each of its Subsidiaries has the corporate power and authority, and the legal right, to make, deliver and perform this Guaranty and each of the other Loan Documents and Transaction Documents to which such Person is a party and to borrow thereunder and has taken all necessary corporate action to authorize (i) the borrowings on the terms and conditions of the Loan Documents and Transaction Documents to which such Person is a party, (ii) the execution, delivery and performance of this Guaranty and each of the other Loan Documents and Transaction Documents to which such Person is a party and (iii) the remittance of payments in the applicable currency of all amounts payable hereunder and thereunder.  No consent or authorization of, filing with, notice to or other act by or in respect of, any Governmental Authority or any other Person is required in connection with the borrowings under the Loan Documents or Transaction Documents, the remittance of payments in the applicable currency in accordance with the terms hereof and thereof or with the execution, delivery, performance, validity or enforceability of this Guaranty and each of the other Loan Documents and Transaction Documents.  This Guaranty and each of the other Loan Documents and Transaction Documents to which the Guarantor and/or any of its Subsidiaries are a party have been duly executed and delivered on behalf of the Guarantor and each of such Subsidiaries.  Each of this Guaranty and each of the other Loan Documents and Transaction Documents to which the Guarantor and/or any of its Subsidiaries are a party constitutes a legal, valid and binding obligation of the Guarantor and each of such Subsidiaries enforceable against the Guarantor and each of such Subsidiaries in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors' rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or law).
(e)    No Legal Bar.  The execution, delivery and performance by the Guarantor of this Guaranty, and by it and each of its Subsidiaries of the other Loan Documents and Transaction Documents to which each such entity is a party, the borrowings thereunder and the use of the proceeds thereof will not violate any Requirement of Law or Contractual Obligation to which the Guarantor or any of its Subsidiaries are a party or by which it or they are bound and will not result in, or require, the creation or imposition of any Lien on any of the properties or revenues of any of the Guarantor or its Subsidiaries pursuant to any such Requirement of Law or Contractual Obligation.
(f)    No Material Litigation.  Except as disclosed in Schedule VI attached hereto, no litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of the Guarantor, threatened by or against the Guarantor or any of its Subsidiaries or against any of their respective properties or revenues (a) with respect to this Guaranty or the other Loan Documents or 
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Transaction Documents or any of the transactions contemplated hereby or thereby or (b) which could reasonably be expected to have a Material Adverse Effect.
(g)    Ownership of Property; Liens.  The Guarantor and each of its Subsidiaries has good record and marketable title in fee simple to, or a valid leasehold interest in, all its material real property, and good title to, or a valid leasehold interest in, all its other material property except for defects in title which would not have a Material Adverse Effect, and none of the property is subject to any Lien that secures Secured Indebtedness, other than a Lien that secures Permitted Secured Indebtedness or any other Secured Indebtedness permitted under Section 8.2(a)(iii) of this Guaranty.
(h)    Environmental Matters.  The Guarantor and its Subsidiaries have obtained all permits, licenses and other authorizations that are necessary to operate their respective business and required under all applicable Environmental Laws, except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. Except as set forth on Schedule II attached hereto, (i) Hazardous Materials have not at any time been generated, used, treated or stored on, released or disposed of on, or transported to or from, any property owned, leased, used, operated or occupied by the Guarantor or any of its Subsidiaries or, to the best of the Guarantor's knowledge, any property adjoining or in the vicinity of any such property except in compliance with all applicable Environmental Laws other than where the failure to do so would not reasonably be expected to have a Material Adverse Effect and (ii) there are no past, pending or threatened (in writing) Environmental Claims against the Guarantor or any of its Subsidiaries or any property owned, leased, used, operated or occupied by the Guarantor or any of its Subsidiaries that individually or in the aggregate would reasonably be expected to have a Material Adverse Effect.  The operations of the Guarantor and its Subsidiaries are in compliance in all material respects with all terms and conditions of the required permits, licenses, certificates, registrations and authorizations, and are also in compliance in all material respects with all other limitations, restrictions, conditions, standards, prohibitions, requirements, obligations, schedules and timetables contained in the Environmental Laws, except where the failure to do so would not reasonably be expected to have a Material Adverse Effect.
(i)    No Default.  Except with respect to the Indebtedness set forth on Schedule III attached hereto, neither the Guarantor nor any of its Subsidiaries is in default under or with respect to any agreement, instrument or undertaking to which it is a party or by which it is bound in any respect which could reasonably be expected to have a Material Adverse Effect.  No Series 2002-1 Early Amortization Event, Potential Series 2002-1 Early Amortization Event, Event of Default or Default has occurred and is continuing.
(j)    Taxes.  Under the laws of Bermuda, the execution, delivery and performance by the Guarantor of this Guaranty and by it and each of its Subsidiaries (as the case may be) of the other Loan Documents and Transaction Documents to which they are a party and all payments of principal, interest, fees and other amounts hereunder and thereunder are exempt from all income or withholding taxes, stamp taxes, charges or contributions of Bermuda or any political subdivision or taxing authority thereof, irrespective of the fact that the Administrative Agent or any of the Lenders may have a representative office or subsidiary in Bermuda.  Except as otherwise provided herein or therein, the Guarantor is validly obligated to make all payments due under this Guaranty free and clear of any such tax, withholding or charge so that the Administrative Agent 
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and the Lenders shall receive the amounts due as if no such tax, withholding or charge had been imposed.
(k)    Pari Passu Status.  The obligations of the Guarantor hereunder constitute direct, general obligations of the Guarantor and rank at least pari passu (in priority of payment) with all other unsecured, unsubordinated Indebtedness (other than any such Indebtedness that is preferred by mandatory provisions of law) of the Guarantor.
(l)    Purpose of Loans.  The proceeds of the Loans under the Credit Agreement shall be used by BLFC solely to either (i) make advances under the Series 2002-1 VFC, (ii) repay Permitted Indebtedness outstanding from time to time or (iii) pay expenses incurred in connection with the Credit Agreement and any Pari Passu Indebtedness.  Notwithstanding the foregoing, any other use of the proceeds of the Loans under the Credit Agreement shall not affect the obligations of the Guarantor hereunder.
(m)    Information.  All information (including, with respect to the Guarantor, without limitation, the financial statements required to be delivered pursuant hereto), which has been made available to the Administrative Agent or any Lender by or on behalf of the Guarantor in connection with the transactions contemplated hereby and the other Loan Documents and Transaction Documents is complete and correct in all material respects and does not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not materially misleading in light of the circumstances under which such statements were made; provided, that, with respect to projected financial information provided by or on behalf of the Guarantor, the Guarantor represents only that such information was prepared in good faith by management of the Guarantor on the basis of assumptions believed by such management to be reasonable as of the time made.  As of the date hereof, the information included in the Beneficial Ownership Certification of BLFC is true and correct.
(n)    Designated Obligors.  On the date hereof, BL directly or indirectly owns the percentage of the voting stock of each Designated Obligor (other than BL) set forth on Schedule IV attached hereto.
(o)    Restrictions on Designated Obligors.  There is no legal or regulatory restriction on the ability of any Designated Obligor to pay dividends to the Guarantor out of earnings at such times as such Designated Obligor is not deemed to be insolvent pursuant to the laws of its jurisdiction of incorporation nor any legal or regulatory restriction preventing the Guarantor from converting such dividend payments to Dollars.
(p)    Federal Regulations.  No part of the proceeds of any advances under the Investor Certificates will be used for "purchasing" or "carrying" any "margin stock" within the respective meanings of each of the quoted terms under Regulation U of the Board of Governors of the Federal Reserve System of the United States as now and from time to time hereafter in effect.
(q)    Investment Company Act.  The Guarantor is not an "investment company", or a company "controlled" by an "investment company", within the meaning of the Investment Company Act of 1940, as amended.
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(r)    Solvency.  The Guarantor is, individually and together with its Subsidiaries, Solvent.
(s)    Consideration.  The Guarantor has received, or will receive, direct or indirect benefit from the making of this Guaranty.  The Guarantor has, independently and without reliance upon the Administrative Agent or any Lender and based on such documents and information it has deemed appropriate, made its own credit analysis and decision to enter into this Guaranty.
(t)    Sanctions.  
(i)    To the best of the knowledge of the Responsible Officers of the Guarantor, the Guarantor and its Subsidiaries are, to the extent applicable, in compliance in all material respects with Sanctions and Anti-Corruption Laws.
(ii)    To the best of the knowledge of the Responsible Officers of the Guarantor, the Guarantor is not, and no Subsidiary and no director or senior officer of the Guarantor or any Subsidiary, is any of the following:
(a)    a Restricted Party;
(b)    a Person owned 50% or more or controlled by, or acting on behalf of, any Restricted Party or Restricted Parties; or
(c)    a Person that commits, threatens or conspires to commit or support “terrorism” as defined in the Executive Order.
(iii)    The Guarantor has implemented and maintains in effect policies and procedures designed to promote and achieve continued compliance by the Guarantor, its Subsidiaries and their respective directors, officers and employees with applicable Anti-Corruption Laws and Sanctions.
The foregoing representations in this Section 7(t) will not apply to any party hereto to which Council Regulation (EC) 2271/96 (the “Blocking Regulation”) applies, if and to the extent that such representations are or would be unenforceable by or in respect of that party pursuant to, or would otherwise result in a breach and/or violation of, (i) any provision of the Blocking Regulation (or any law or regulation implementing the Blocking Regulation in any member state of the European Union) or (ii) any similar blocking or anti-boycott law in the United Kingdom.
(u)    Financial Institution.  Neither the Guarantor nor any of its Subsidiaries is an EEA Financial Institution or a UK Financial Institution.  
The Guarantor agrees that the foregoing representations and warranties shall be deemed to have been made by the Guarantor on the date hereof and the date of each borrowing by BLFC under the Credit Agreement, on and as of all such dates.
Section 8.    Covenants.
8.1    Affirmative Covenants.  The Guarantor hereby agrees that, so long as (i) any Loan remains outstanding and unpaid or any other amount is owing to the 
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Administrative Agent or any Lender under the Credit Agreement or (ii) the Commitments have not been terminated:
(a)    Financial Statements.  The Guarantor shall furnish to the Administrative Agent (who shall furnish a copy to each Lender):
(i)    promptly after each annual meeting of the Guarantor, but in any event within one hundred and twenty (120) days after the end of each fiscal year of the Guarantor, a copy of the audited consolidated balance sheet of the Guarantor and its consolidated Subsidiaries at the end of such year and related audited consolidated statements of income and retained earnings and of cash flows for such year, setting forth in each case in comparative form the figures for the previous year, certified by independent public accountants reasonably acceptable to the Administrative Agent;
(ii)    as soon as available, but in any event not later than sixty (60) days after the end of each of the first three quarters of each fiscal year of the Guarantor, the unaudited consolidated balance sheet of the Guarantor as at the end of such quarter and the related unaudited consolidated statement of income for such quarter and the portion of the fiscal year through the end of such quarter, setting forth in each case in comparative form the figures for the previous year, each in the form reasonably acceptable to the Administrative Agent, certified by the chief financial officer of the Guarantor; and
(iii)    such additional financial and other information as the Administrative Agent (at the request of any Lender or otherwise) may from time to time reasonably request;
all such financial statements furnished under clause (i) above to be complete and correct in all material respects and prepared in reasonable detail in accordance with GAAP applied consistently throughout the periods reflected therein and with prior periods (except as approved by such accountants or officer, as the case may be, and disclosed therein); provided, however, that the Guarantor shall not be required to deliver the financial statements described under clauses (i) and (ii) above if such statements are available within the time period required by applicable Requirements of Law on EDGAR or from other public sources.
(b)    Quarterly Compliance Certificates.  The Guarantor shall, within sixty (60) days after the end of each of the first three fiscal quarters of each fiscal year and one hundred and twenty (120) days after the end of each fiscal year, furnish to the Administrative Agent its certificate signed by its chief financial officer, treasurer or controller stating that, to the best of such officer's knowledge, during such period each of the Guarantor and BLFC has observed or performed all of its covenants and other agreements, and satisfied every condition contained in this Guaranty and the other Loan Documents and Transaction Documents and any other related documents to be observed, performed or satisfied by each of them, and that such officer has obtained no knowledge of any Series 2002-1 Early Amortization Event, Potential Series 2002-1 Early Amortization Event, Event of Default or Default except as specified in such certificate and showing in reasonable detail the calculations evidencing compliance with the covenants in subsection 8.2(a).
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(c)    Conduct of Business and Maintenance of Existence.  The Guarantor shall, and shall cause each of the Designated Obligors to:  (i) except as permitted by subsection 8.2(b), preserve, renew and keep in full force and effect its corporate existence; and (ii) take all reasonable action to maintain all rights, privileges and franchises necessary or desirable in the normal conduct of its business, except where the failure to maintain the same would not have a Material Adverse Effect.
(d)    Compliance with Laws and Contractual Obligations; Authorization.  The Guarantor shall, and shall cause each of its Subsidiaries to, comply in all respects with all Requirements of Law and Contractual Obligations, except where failure to so comply would not have a Material Adverse Effect, and the Guarantor shall obtain, comply with the terms of and do all that is necessary to maintain in full force and effect all authorizations, approvals, licenses and consents required in or by any applicable laws and regulations to enable it lawfully to enter into and perform its obligations under this Guaranty or to ensure the legality, validity, enforceability or admissibility in evidence of this Guaranty and the other Loan Documents and Transaction Documents.
(e)    Maintenance of Property; Insurance.  The Guarantor shall, and shall cause each of its Subsidiaries to, keep all property useful and necessary in its business in good working order and condition, except where failure to do so would not have a Material Adverse Effect; and maintain with financially sound and reputable insurance companies insurance on all its property in at least such amounts and against at least such risks as are customary for the Guarantor's type of business.
(f)    Inspection of Property; Books and Records.  The Guarantor shall, and shall cause each of the Designated Obligors to, keep proper books of records and account in which full, true and correct entries in conformity with GAAP and all Requirements of Law shall be made of all dealings and transactions in relation to its business and activities; and permit representatives of the Administrative Agent and each Lender to visit and inspect any of its properties and examine and make abstracts from any of its books and records at any time and as often as may reasonably be desired, provided that the Administrative Agent and each Lender has given reasonable prior written notice and the Administrative Agent and each Lender has executed a confidentiality agreement reasonably satisfactory to the Guarantor.
(g)    Notices.  The Guarantor shall give notice to the Administrative Agent promptly after becoming aware of the same, of (i) the occurrence of any Series 2002-1 Early Amortization Event, Potential Series 2002-1 Early Amortization Event, Event of Default or Default, including any steps taken to remedy or mitigate the effect of such default; (ii) any changes in taxes, duties or other fees of Bermuda or any political subdivision or taxing authority thereof or any change in any laws of Bermuda, in each case, that may affect any payment due under this Guaranty or the other Loan Documents and Transaction Documents; (iii) any change in the Guarantor's, BLFC's or the Master Trust's public or private rating by S&P or Moody's; (iv) any development or event which has had, or which the Guarantor in its good faith judgment believes will have, a Material Adverse Effect; and (v) any change in the information provided in the Beneficial Ownership Certification of BLFC provided to the Administrative Agent or any Lender that would result in a change to the list of beneficial owners identified in parts (c) or (d) of such certification. 
    11

(h)    Pari Passu Obligations.  The Guarantor shall ensure that its obligations hereunder at all times constitute direct, general obligations of the Guarantor ranking at least pari passu in right of payment with all other unsecured, unsubordinated Indebtedness (other than Indebtedness that is preferred by mandatory provisions of law) of the Guarantor.
(i)    Maintenance of Designated Obligors.  The Guarantor will not and will not permit any of its Subsidiaries directly or indirectly to convey, sell, transfer or otherwise dispose of, or grant any Person an option to acquire, in one transaction or a series of transactions more than 50% of the voting stock of a Designated Obligor (other than BL) unless such conveyance, sale, transfer or disposition does not cause a Series 2002-1 Early Amortization Event, Potential Series 2002-1 Early Amortization Event, Event of Default or Default and either (i) such conveyance, sale, transfer or disposition is among the Guarantor and its Subsidiaries or (ii) (A) the Guarantor or such Subsidiary uses the net proceeds of such stock conveyance, sale, transfer or disposition to repay in full the aggregate principal and interest due and owing with respect to all Intercompany Loans outstanding as to which the Designated Obligor is the Obligor and (B) to the extent such net proceeds exceed the amounts required to be paid pursuant to clause (A), the Guarantor or such Subsidiary either (1) reinvests or enters into a contract to reinvest all such excess net proceeds in productive replacement fixed assets of a kind then used or usable in the business of the Guarantor or any of its Subsidiaries or (2) uses such excess net proceeds to make payments on the Guarantor's or its Subsidiaries' other Indebtedness.
(j)    Payment of Taxes.  The Guarantor shall pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all taxes, assessments and similar governmental charges imposed on it, its incomes, profits or properties, except where (i) the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves to the extent required by GAAP with respect thereto have been provided on the books of the Guarantor or (ii) the nonpayment of all such taxes, assessments and charges in the aggregate would not reasonably be expected to have a Material Adverse Effect.
(k)    Environmental Laws.  Unless, in the good faith judgment of the Guarantor, the failure to do so would not reasonably be expected to have a Material Adverse Effect, the Guarantor will comply in all material respects, and cause each of its Subsidiaries to comply in all material respects, with the requirements of all applicable Environmental Laws and will immediately pay or cause to be paid all costs and expenses incurred in such compliance, except such costs and expenses which are being contested in good faith by appropriate proceedings if the Guarantor or such Subsidiary, as applicable, is maintaining adequate reserves (in the good faith judgment of the management of the Guarantor) with respect thereto in accordance with GAAP.  Unless the failure to do so would not reasonably be expected to have a Material Adverse Effect, the Guarantor shall not, nor shall it permit or suffer any of its Subsidiaries to, generate, use, manufacture, refine, transport, treat, store, handle, dispose of, transfer, produce or process Hazardous Materials other than in the ordinary course of business and in material compliance with all applicable Environmental Laws, and shall not, and shall not permit or suffer any of its Subsidiaries to, cause or permit, as a result of any intentional or unintentional act or omission on the part of the Guarantor or any Subsidiary thereof, the installation or placement of Hazardous Materials in material violation of or actionable under any applicable Environmental Laws onto any of its property or suffer the material presence of Hazardous Materials in violation of or actionable under any applicable Environmental 
    12

Laws on any of its property without having taken prompt steps to remedy such violation.  Unless its failure to do so would not reasonably be expected to have a Material Adverse Effect, the Guarantor shall, and shall cause each of its Subsidiaries to, promptly undertake and diligently pursue to completion any investigation, study, sampling and testing, as well as any cleanup, removal, remedial or other action required of the Guarantor or any Subsidiary under any applicable Environmental Laws in the event of any release of Hazardous Materials.
(l)    ERISA.  The Guarantor shall give to the Administrative Agent the following notices and documents (provided that, solely with respect to clauses (i), (ii) and (iii) below, the Guarantor shall only be obligated to provide such notices and documents to the extent that any of the events or occurrences described in such clauses is reasonably expected to result in a material liability):  
(i)    ERISA Events.  Promptly and in any event within ten (10) days after the Guarantor or any of its ERISA Affiliates knows or has reason to know that any ERISA Event has occurred, a statement of the chief financial officer of the Guarantor or such ERISA Affiliate describing such ERISA Event and the action, if any, that the Guarantor or such ERISA Affiliate has taken and proposes to take with respect thereto;
(ii)    Plan Terminations.  Promptly and in any event within two (2) Business Days after receipt thereof by the Guarantor or any of its ERISA Affiliates, copies of each notice from the PBGC stating its intention to terminate any Plan or to have a trustee appointed to administer any Plan; and
(iii)    Multiemployer Plan Notices.  Promptly and in any event within five (5) Business Days after receipt thereof by the Guarantor or any of its ERISA Affiliates from the sponsor of a Multiemployer Plan, copies of each notice concerning (A) the imposition of Withdrawal Liability by any such Multiemployer Plan, or (B) the reorganization or termination, within the meaning of Title IV of ERISA, of any such Multiemployer Plan or (C) the amount of liability incurred by the Guarantor or any of its ERISA Affiliates in connection with any event described in clause (A) or (B) above.
(iv)    Additional Multiemployer Plan Notices. Promptly upon request, copies of (A) any documents described in Section 101(k) of ERISA that the Guarantor or any of its ERISA Affiliates may request with respect to any Multiemployer Plan, and (B) any notices described in Section 101(l) of ERISA that the Guarantor or any of its ERISA Affiliates may request with respect to any Multiemployer Plan; provided, that if the Guarantor or the applicable ERISA Affiliate has not requested such documents or notices from the administrator or sponsor of the applicable Multiemployer Plan, upon the request of the Administrative Agent, which request shall not be more frequent than once during any twelve (12) month period, the Guarantor or applicable ERISA Affiliate shall promptly make a request for such documents or notices and shall provide copies of such documents and notices promptly and in any event within five (5) Business Days after receipt thereof.
(m)    Sanctions Actions or Investigations.  Promptly  upon a Responsible Officer of the Guarantor becoming aware that the Guarantor or any of its Subsidiaries has 
    13

received formal notice that it has become the subject of any material action or investigation under any Sanctions, the Guarantor shall, to the extent permitted by law, supply to the Administrative Agent details of any such material action or investigation.
(n)    Anti-Corruption and Sanctions Compliance Policies and Procedures.  The Guarantor will maintain in effect policies and procedures designed to promote and achieve continued compliance by the Guarantor, its Subsidiaries and their respective directors, officers and employees with applicable Anti-Corruption Laws and Sanctions.
8.2    Negative Covenants.  The Guarantor hereby agrees that, so long as (i) any Loan remains outstanding and unpaid or any other amount is owing to the Administrative Agent or any Lender under the Credit Agreement or (ii) the Commitments have not been terminated:
(a)    Financial Covenants.  The Guarantor shall not at any time permit:
(i)    the ratio of its Total Consolidated Current Assets to Adjusted Total Consolidated Current Liabilities, each as calculated at the end of each fiscal quarter of the Guarantor, to be less than 1.1 to 1.0 (to be tested quarterly);
(ii)    the ratio of its consolidated Adjusted Net Debt to consolidated Adjusted Capitalization (each as calculated at the end of each fiscal quarter of the Guarantor) to be greater than 0.635:1.0 (to be tested quarterly); and
(iii)    the aggregate outstanding principal balance of all Secured Indebtedness (excluding any Permitted Secured Indebtedness) incurred by the Guarantor and its Subsidiaries to be greater than an amount equal to seven and one half percent (7.5%) of the Total Tangible Assets of the Guarantor and its Subsidiaries, as calculated at the end of each fiscal quarter of the Guarantor and as determined in accordance with GAAP (to be tested quarterly).
(b)    Limitation of Fundamental Changes.  The Guarantor shall not enter into any transaction of merger, consolidation or amalgamation (other than any merger or amalgamation of any Subsidiary with and into the Guarantor so long as the Guarantor shall be the surviving, resulting or continuing company) or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or convey, sell, lease, assign, transfer or otherwise dispose of, all or substantially all of its property, business or assets.
(c)    Restrictions on Dividends or Loans by Designated Obligors.  The Guarantor shall not permit any Designated Obligor to enter into any agreement restricting the payment of dividends or the making of loans by it to the Guarantor or to any other Designated Obligor, except that the Guarantor may permit a Designated Obligor to be party to agreements (i) limiting the payment of dividends by such Designated Obligor following a default or an event of default under such agreement and (ii) requiring the compliance by such Designated Obligor with specified net worth, working capital or other similar financial tests and (iii) restricting loans to be made by such Designated Obligor to any other Obligor or the Guarantor to such loans which accrue interest at a rate greater than or equal to such lending Designated Obligor's average cost of funds as determined in good faith by the Board of Directors of such Designated Obligor.
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(d)    Intercompany Loans.  Notwithstanding any provision to the contrary set forth in the Transaction Documents (including, without limitation, clause (s) of the definition of “Eligible Loan” in Annex X), the Guarantor (i) shall not permit any Seller to sell, transfer, assign or otherwise convey any Intercompany Loan to Bunge Funding under the Sale Agreement that has a maturity in excess of six (6) years and (ii) shall either cause a Seller, Bunge Funding or the Trustee to demand repayment of all outstanding principal and accrued interest under each Intercompany Loan or cause a Seller to refinance such amounts by making a new Intercompany Loan to the applicable Obligor within six (6) years from the date of such Intercompany Loan.
(e)    Anti-Money Laundering.    The Guarantor will not knowingly conduct its operations in violation of any applicable financial recordkeeping and reporting requirements of the U.S. Bank Secrecy Act, the money laundering statutes of all jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines issued, administered or enforced by any applicable authority (collectively, the “Money Laundering Laws”), and no action or inquiry by or before any authority involving the Guarantor with respect to Money Laundering Laws is pending or, to the best of the knowledge of the Responsible Officers of the Guarantor, is threatened.
(f)    Sanctions and Anti-Corruption.    The Guarantor will not knowingly use, or permit any of its Subsidiaries to use, any funds derived from any activity that would violate Sanctions or any Anti-Corruption Laws to pay any of the obligations under the Loan Documents.
The foregoing covenants in this Section 8.2(f) will not apply to any party hereto to which the Blocking Regulation applies, if and to the extent that such covenants are or would be unenforceable by or in respect of that party pursuant to, or would otherwise result in a breach and/or violation of, (i) any provision of the Blocking Regulation (or any law or regulation implementing the Blocking Regulation in any member state of the European Union) or (ii) any similar blocking or anti-boycott law in the United Kingdom.
8.3    Use of Websites.
(a)    The Guarantor may satisfy its obligation to deliver any public information to the Lenders by posting this information onto an electronic website designated by the Guarantor and the Administrative Agent (the "Designated Website") by notifying the Administrative Agent (i) of the address of the website together with any relevant password specifications and (ii) that such information has been posted on the website; provided, that in any event the Guarantor shall supply the Administrative Agent with one copy in paper form of any information which is posted onto the website.
(b)    The Administrative Agent shall supply each Lender with the address of and any relevant password specifications for the Designated Website following designation of that website by the Guarantor and the Administrative Agent.
(c)    The Guarantor shall promptly upon becoming aware of its occurrence notify the Administrative Agent if:
(i)    the Designated Website cannot be accessed due to technical failure;
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(ii)    the password specifications for the Designated Website change;
(iii)    any new information which is required to be provided under this Guaranty is posted onto the Designated Website; 
(iv)    any existing information which has been provided under this Guaranty and posted onto the Designated Website is amended; or
(v)    the Guarantor becomes aware that the Designated Website or any information posted onto the Designated Website is or has been infected by any electronic virus or similar software.  
If the Guarantor notifies the Administrative Agent under Section 8.3(c)(i) or Section 8.3(c)(v) above, all information to be provided by the Guarantor under this Guaranty after the date of that notice shall be supplied in paper form unless and until the Administrative Agent is satisfied that the circumstances giving rise to the notification are no longer continuing.
Section 9.    Amendments.  No amendment or waiver of any provision of this Guaranty nor consent to any departure by the Guarantor therefrom shall in any event be effective unless such amendment or waiver shall be in writing and signed by the Guarantor and the Administrative Agent (who shall act following the receipt of the consent of the Required Lenders).  Such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.
Section 10.    Notices, Etc.  All notices, demands, instructions and other communications required or permitted to be given to or made upon any Person pursuant hereto shall be in writing and shall be personally delivered or sent by registered, certified or express mail, postage prepaid, return receipt requested, by recognized overnight courier service or by facsimile transmission, and shall be deemed to be given for purposes of this Guaranty, in the case of a notice sent by registered, certified or express mail, or by recognized overnight courier service, on the date that such writing is actually delivered to the intended recipient thereof in accordance with the provisions of this Section 10, or in the case of facsimile transmission, when received and telephonically confirmed. Unless otherwise specified in a notice sent or delivered in accordance with the foregoing provisions of this Section 10, notices, demands, instructions and other communications in writing shall be given to or made upon the subject parties at their respective Notice Addresses (or to their respective facsimile transmission numbers) or at such other address or number as any party may notify to the other parties in accordance with the provisions of this Section 10.
Section 11.    No Waiver; Remedies.  No failure on the part of the Administrative Agent to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by law.
Section 12.    Costs and Expenses.  The Guarantor agrees to pay, and cause to be paid, on demand all costs and expenses actually incurred by the Administrative Agent in connection with the enforcement of this Guaranty including, without limitation, the fees and out of pocket expenses of outside counsel to the Administrative Agent with respect thereto. The 
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agreements of the Guarantor contained in this Section 12 shall survive the payment of all other amounts owing hereunder or under any of the other Guaranty Obligations.
Section 13.    Separability.  Should any clause, sentence, paragraph, subsection or Section of this Guaranty be judicially declared to be invalid, unenforceable or void, such decision will not have the effect of invalidating or voiding the remainder of this Guaranty, and the parties hereto agree that the part or parts of this Guaranty so held to be invalid, unenforceable or void will be deemed to have been stricken herefrom and the remainder will have the same force and effectiveness as if such part or parts had never been included herein.  
Section 14.    Captions.  The captions in this Guaranty have been inserted for convenience only and shall be given no substantive meaning or significance whatever in construing the terms and provisions of this Guaranty.
Section 15.    Successors and Assigns.  This Guaranty shall (a) be binding upon the Guarantor and its successors and assigns and (b) inure to the benefit of and be enforceable by the Administrative Agent (for the ratable benefit of the Lenders) and its successors, transferees and assigns; provided, however, that any assignment by the Guarantor of its obligations hereunder shall (i) be subject to the prior written consent of the Administrative Agent acting on the instructions of all of the Lenders at their complete discretion, and (ii) subject to the satisfaction of clause (i) above, only be made to a one hundred percent (100%) owned Affiliate of the Guarantor.  
Section 16.    Limitation by Law.  All rights, remedies and powers provided in this Guaranty may be exercised only to the extent that the exercise thereof does not violate any applicable provision of law, and all the provisions of this Guaranty are intended to be subject to all applicable mandatory provisions of law which may be controlling and to be limited to the extent necessary so that they will not render this Guaranty invalid, unenforceable, in whole or in part, or not entitled to be recorded, registered or filed under the provisions of any applicable law.
Section 17.    Substitution of Guaranty.  Subject to the prior written consent of the Administrative Agent acting on the instructions of all of the Lenders at their complete discretion, the Guarantor shall, during the term of this Guaranty, be permitted at its option to provide collateral to the Administrative Agent or another form of credit support as a substitute for its obligations under this Guaranty.  The Guarantor agrees to execute whatever security or credit support documents the Administrative Agent reasonably requests in order to effectuate the provisions of this Section 17.
Section 18.    GOVERNING LAW; FOREIGN PARTY PROVISIONS.  
(a)    THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).
(b)    Consent to Jurisdiction.  The Guarantor irrevocably submits to the non-exclusive jurisdiction of any New York state or U.S. federal court sitting in the Borough of Manhattan, The City of New York, in any action or proceeding relating to its obligations, liabilities or any other matter arising out of or in connection with this Guaranty or the other Loan Documents and Transaction Documents.  The Guarantor hereby irrevocably agrees that all claims in respect of any such action or proceeding may 
    17

be heard and determined in such New York state or U.S. federal court.  The Guarantor also hereby irrevocably waives, to the fullest extent permitted by law, any objection to venue or the defense of an inconvenient forum to the maintenance of any such action or proceeding in any such court.
(c)    Appointment for Agent for Service of Process.  The Guarantor hereby (i) irrevocably designates and appoints its chief financial officer (from time to time) at its principal executive offices at 1391 Timberlake Manor Parkway, Chesterfield, Missouri 63017 (the "Authorized Agent"), as its agent upon which process may be served in any suit, action or proceeding related to this Guaranty and represents and warrants that the Authorized Agent has accepted such designation and (ii) agrees that service of process upon the Authorized Agent and written notice of said service to the Guarantor mailed or delivered by a recognized international courier service (with proof of delivery) to its Secretary or any Assistant Secretary at its office at 1391 Timberlake Manor Parkway, Chesterfield, Missouri 63017, shall be deemed in every respect effective service of process upon the Guarantor in any such suit or proceeding.  The Guarantor further agrees to take any and all action, including the execution and filing of any and all such documents and instruments, as may be necessary to continue such designation and appointment of the Authorized Agent in full force and effect so long as the Guaranty is in existence.
(d)    Waiver of Immunities.  To the extent that the Guarantor or any of its properties, assets or revenues may have or may hereafter become entitled to, or have attributed to them, any right of immunity, on the grounds of sovereignty, from any legal action, suit or proceeding, from set-off or counterclaim, from the jurisdiction of any court, from service of process, from attachment upon or prior to judgment, or from attachment in aid of execution of judgment, or from execution of judgment, or other legal process or proceeding for the giving of any relief or for the enforcement of any judgment, in any jurisdiction in which proceedings may at any time be commenced, with respect to its obligations, liabilities or any other matter under or arising out of or in connection with this Guaranty or any other Loan Documents and Transaction Documents, the Guarantor hereby irrevocably and unconditionally, to the extent permitted by applicable law, waives and agrees not to plead or claim any such immunity and consents to such relief and enforcement.
(e)    Taxes.  
(i)      Any payments by or on behalf of the Guarantor to the Administrative Agent hereunder shall be made free and clear of, and without deduction or withholding for or on account of, any Taxes; provided, that if any Taxes are required to be deducted or withheld from any amounts payable to the Administrative Agent, as determined in good faith by the applicable Withholding Agent, (x) the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and (y) if such Tax is an Indemnified Tax, then the sum payable by the Guarantor to the Administrative Agent shall be increased to the extent necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section), the Administrative Agent receives an amount equal to the sum it would have received had no such withholding or deduction been made.
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(ii)    Whenever any Indemnified Taxes are payable by the Guarantor, as promptly as possible thereafter the Guarantor shall send to the Administrative Agent for its own account or for the account of the relevant Lender, as the case may be, a certified copy of an original official receipt received by the Guarantor showing payment thereof, a copy of the tax return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. The Guarantor shall indemnify the Administrative Agent (for its own benefit or for the benefit of a Lender), within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by the Administrative Agent or any Lender or required to be withheld or deducted from a payment to the Administrative Agent or any Lender and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Guarantor by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.
(iii)    If any Lender (or participant) is entitled to an exemption from or reduction of withholding Tax with respect to payments made hereunder, the Administrative Agent shall obtain from such Lender and shall deliver to the Guarantor, at the time or times prescribed by applicable law or reasonably requested by the Guarantor, such properly completed and executed documentation prescribed by applicable law as will permit such payments to be made without withholding or at a reduced rate, provided that such Lender (or participant) is legally entitled to complete, execute and deliver such documentation and in such Lender’s (or participant’s) reasonable judgment such completion, execution or submission would not materially prejudice the legal or commercial position of such Lender (or participant).
(iv)    If the Administrative Agent or a Lender determines, in its sole good faith discretion, that it has received a refund of any Indemnified Taxes as to which the Administrative Agent has been indemnified by the Guarantor or with respect to which the Guarantor has paid additional amounts pursuant to this Section 18(e), the Administrative Agent (on its own behalf or on behalf of such Lender) shall pay to the Guarantor an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the Guarantor under this Section 18(e) with respect to Indemnified Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or such Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided, that the Guarantor agrees to pay, upon the request of the Administrative Agent, the amount paid over to the Guarantor pursuant to this Section 18(e)(iv) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent (for its own benefit or for the benefit of such Lender) in the event that the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 18(e)(iv), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this Section 18(e)(iv) the payment of which would place the indemnified party in a 
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less favorable net after-tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts giving rise to such refund had never been paid. This Section 18(e)(iv) shall not be construed to require the Administrative Agent or a Lender to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the Guarantor.
(f)    Judgment Currency.  The obligations of the Guarantor in respect of any sum due to the Administrative Agent or any Lender hereunder or any holder of the obligations owing hereunder (the "Applicable Creditor") shall, notwithstanding any judgment in a currency (the "Judgment Currency") other than the currency in which such sum is stated to be due hereunder (the "Agreement Currency"), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, the Guarantor as a separate obligation and notwithstanding any such judgment, agrees to indemnify the Applicable Creditor against such loss.  The obligations of the Guarantor contained in this Section shall survive the termination of this Guaranty and the Credit Agreement and the payment of all other amounts owing hereunder and thereunder.
Section 19.    WAIVER OF JURY TRIAL.  THE GUARANTOR HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS GUARANTY, ANY OTHER LOAN DOCUMENT OR FOR ANY TRANSACTIONS CONTEMPLATED BY THIS GUARANTY AND FOR ANY COUNTERCLAIM THEREIN.  THE GUARANTOR ACKNOWLEDGES THAT (A) THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO THIS GUARANTY, (B) IT HAS RELIED ON THIS WAIVER IN ENTERING INTO THIS GUARANTY AND (C) IT WILL CONTINUE TO RELY ON THIS WAIVER IN FUTURE DEALINGS RELATED TO THIS GUARANTY.  THE GUARANTOR REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL ADVISERS AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS AFTER CONSULTATION WITH ITS LEGAL ADVISERS.  IN THE EVENT OF ANY LEGAL PROCEEDING RELATING TO THIS GUARANTY, ANY OTHER LOAN DOCUMENT OR FOR ANY TRANSACTIONS CONTEMPLATED BY THIS GUARANTY, THIS GUARANTY MAY BE FILED AS EVIDENCE OF THE GUARANTOR’S WAIVER OF A TRIAL BY JURY.
Section 20.    Reinstatement.  This Guaranty shall be reinstated to the extent of payments made to the Guarantor as reimbursement of amounts advanced by the Guarantor hereunder.  The Guarantor agrees that this Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time any part of any payment of principal of, or interest on, the Guaranty Obligations is stayed, rescinded or must otherwise be restored by the Administrative Agent upon the bankruptcy or reorganization of BLFC or any other Person.
Section 21.    JPMorgan Chase Conflict Waiver.  JPMorgan Chase acts as Administrative Agent and Lender and may provide other services or facilities from time to time (the "JPMorgan Chase Roles").  The Guarantor and each other party hereto acknowledges and 
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consents to any and all JPMorgan Chase Roles, waives any objections it may have to any actual or potential conflict of interest caused by JPMorgan Chase acting as Administrative Agent or as Lender hereunder and acting as or maintaining any of the JPMorgan Chase Roles, and agrees that in connection with any JPMorgan Chase Role, JPMorgan Chase may take, or refrain from taking, any action which it in its discretion deems appropriate.
Section 22.    Setoff.  In addition to any rights now or hereafter granted under applicable law and not by way of limitation of any such rights, upon the occurrence of an Event of Default or a Series 2002-1 Early Amortization Event, each Lender is hereby authorized at any time or from time to time, without notice to the Guarantor or to any other Person, any such notice being hereby expressly waived to the extent permitted by applicable law, to set off and to appropriate and apply any and all deposits (general or special) and any other indebtedness at any time held or owing by such Lender, to or for the credit or the account of the Guarantor against and on account of the obligations and liabilities of the Guarantor to such Lender, as applicable, under this Guaranty or any other Loan Document, including, without limitation, all claims of any nature or description arising out of or connected with this Guaranty or any other Loan Document, irrespective of whether or not such Lender shall have made any demand hereunder and although said obligations, liabilities or claims, or any of them, shall be contingent or unmatured.
If any Lender, whether by setoff or otherwise, has payment made to it under this Guaranty or any other Loan Document upon its Loans in a greater proportion than that received by any other Lender, such Lender agrees, promptly upon demand, to purchase a portion of the Loans held by the other Lenders so that after such purchase each Lender will hold its ratable proportion of Loans.
[Signature Page Follows]
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IN WITNESS WHEREOF, the Guarantor has caused this Guaranty to be duly executed by its officers thereunto duly authorized, as of the date first written above.
GUARANTOR:
BUNGE LIMITED,
a Bermuda company

By: /s/ Rajat Gupta    
Name: Rajat Gupta
Title:   Treasurer

By: /s/ Lisa Ware-Alexander    
Name: Lisa Ware-Alexander
Title:   Secretary

			
	[Signature Page Bunge Limited Guaranty (2022)]

 

Schedule I
Material Adverse Effect
None.
    SI-1

Schedule II
Environmental Matters
This Schedule II to the Guaranty hereby incorporates by reference all disclosures related to environmental matters set forth in (i) the Guarantor's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed by the Guarantor on February 24, 2022 and (ii) the Guarantor's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2022, which was filed by the Guarantor on April 27, 2022.

    SII-1

Schedule III
Defaulted Facilities
None.
    SIII-1

Schedule IV
Designated Obligors
    Name    Percentage Directly or Indirectly
                       Owned by BL
    Bunge Limited    --
    Bunge Global Markets Inc.        100%
    Bunge N.A. Holdings, Inc.    100%
    Bunge North America, Inc.    100%
    Koninklijke Bunge B.V.    100%
    Bunge Argentina S.A.    100%
    Bunge S.A.    100%
    Bunge Alimentos S.A.    100%
    Bunge Fertilizantes S.A. (Brazil)    100%
    Bunge International Commerce Ltd.     100%
    Bunge Trade Limited (successor    100%
to Bunge Fertilizantes International Limited)
    SIV-1

Schedule V
Material Contingent Liabilities and Material Disposition or Acquisition of Assets
This Schedule V to the Guaranty hereby incorporates by reference all disclosures set forth in (i) the Guarantor's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed by the Guarantor on February 24, 2022 and (ii) the Guarantor's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2022, which was filed by the Guarantor on April 27, 2022. 
    SV-1

Schedule VI
Material Litigation
This Schedule VI to the Guaranty hereby incorporates by reference all disclosures related to legal proceedings set forth in (i) the Guarantor's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed by the Guarantor on February 24, 2022 and (ii) the Guarantor's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2022, which was filed by the Guarantor on April 27, 2022.
    SVI-1

ANNEX A
"Adjusted Capitalization":  the sum of the Guarantor's Consolidated Net Worth and the Guarantor's consolidated Adjusted Net Debt.
"Adjusted Net Debt":  with respect to any Person on any date of determination, (a) the aggregate principal amount of Indebtedness of such Person on such date (including, without limitation, letter of credit obligations of such Person) minus (b) the sum of all cash, time deposits, marketable securities and Liquid Inventory of such Person on such date.
“Adjusted Total Consolidated Current Liabilities”: (a) the total consolidated current liabilities of the Guarantor and its consolidated Subsidiaries determined on a consolidated basis in accordance with GAAP minus (b) the total letter of credit obligations under any trade structured finance program of the Guarantor and its consolidated Subsidiaries minus (c) the total sum of all drawings under any revolving credit facility that has a maturity, as of any test date, greater than or equal to twelve (12) months from such test date minus (d) any drawings under a commercial paper program, including the Commercial Paper (as defined in Annex X), so long as the drawn portion thereunder is supported by undrawn commitments under a revolving credit facility, including the Liquidity Agreement (as defined in Annex X) that has a maturity, as of any test date, greater than or equal to twelve (12) months from such test date.
"Anti-Corruption Laws": all laws, rules and regulations of any jurisdiction applicable to the Guarantor or any of its Subsidiaries from time to time concerning or relating to bribery or corruption. 
"BL": as defined in the preamble hereto.
"BLFC":  Bunge Limited Finance Corp., a Delaware corporation, and its successors and permitted assigns.
"Blocking Regulation":  as defined in subsection 7(t).
"Bunge Funding": Bunge Funding, Inc., a Delaware corporation, and its successors and permitted assigns.
"Consolidated Net Worth":  the Net Worth of the Guarantor and its consolidated Subsidiaries determined on a consolidated basis in accordance with GAAP, plus minority interests in Subsidiaries.
"Credit Agreement":  as defined in the preamble hereto.
"Dollars" and "$":  dollars in lawful currency of the United States.
"EDGAR": the Electronic Data-Gathering, Analysis and Retrieval system, which performs automated collection, validation, indexing and forwarding of submissions by Persons who are required by law to file forms with the U.S. Securities and Exchange Commission. 
"Environmental Claim":  any and all administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of non-compliance or violation, investigations or proceedings relating in any way to any Environmental Law or any permit issued under any such law (hereinafter "Claims"), including, without limitation, (a) any and all Claims by governmental 
    Annex A - 1

or regulatory authorities for enforcement, cleanup, removal, response, remedial or other actions or damages pursuant to any applicable Environmental Law and (b) any and all Claims by any third party seeking damages, contribution, indemnification, cost recovery, compensation or injunctive relief resulting or arising from alleged or actual injury or threat of injury to the environment by reason of a violation of or liability arising under any Environmental Law.
 “Excluded Taxes”:  has the meaning assigned to such term in the Credit Agreement, provided, however, that, for the avoidance of doubt, such term shall include the Taxes set forth in such definition that are imposed on, or required to be withheld or deducted from a payment to, the Administrative Agent or any Lender under any Loan Document.  
"Guarantor": as defined in the preamble hereto.
"Guaranty":  as defined in the preamble hereto.
"Guaranty Obligations":  as defined in Section 2.
"Hazardous Materials":  (a) any petroleum or petroleum products, radioactive materials, asbestos in any form that is or could become friable, urea formaldehyde foam insulation, transformers or other equipment that contain dielectric fluid containing levels of polychlorinated biphenyls, and radon gas; (b) any chemicals, materials or substances defined as or included in the definition of "hazardous substances," "hazardous waste," "hazardous materials," "extremely hazardous waste," "restricted hazardous waste," "toxic substances," "toxic pollutants," "contaminants," or "pollutants," or words of similar import, under any applicable Environmental Law; and (c) any other chemical, material or substance, exposure to which is prohibited, limited or regulated by any governmental authority having jurisdiction over the Guarantor or its Subsidiaries and the manufacturing, trading or extraction of which constitutes a material portion of the business of the Guarantor or any of its Subsidiaries.
“Indemnified Taxes”:  (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of BLFC or the Guarantor under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes.
"Intercompany Loans":  Loans, as defined in Annex X to the Pooling Agreement.
"Investor Certificates":  as defined in Annex X to the Pooling Agreement.
"JPMorgan Chase Roles":  as defined in Section 21.
"Judgment Currency":  as defined in subsection 18(f).
"Liquid Inventory":  as to the Guarantor and its consolidated Subsidiaries at any time, its inventory at such time of commodities which are traded on any recognized commodities exchange, valued depending on the type of such commodity at either (a) the lower of cost or the market value at such time or (b) the market value at such time.
"Net Worth":  with respect to any Person, the sum of such Person's capital stock, capital in excess of par or stated value of shares of its capital stock, retained earnings and any other account which, in accordance with GAAP, constitutes stockholders' equity, excluding any treasury stock.
    Annex A - 2

"Notice Address": 
									
	Administrative Agent:		JPMORGAN CHASE BANK, N.A.
500 Stanton Christiana Rd, NCC5, Floor 1
Newark, DE 19713
Attention: Robert Nichols
Attention: Sabiha Hossain
Tel. No:  (302) 634-2154

	Guarantor:		BUNGE LIMITED 
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

"Obligor": as defined in Annex X to the Pooling Agreement.
“OFAC”:  the Office of Foreign Assets Control of the U.S. Department of the Treasury.
"Permitted Secured Indebtedness":  any Secured Indebtedness that:
(a) is secured by any mechanic, laborer, workmen, repairmen, materialmen, supplier, carrier, warehousemen, landlord or vendor Lien or any other Lien provided for by mandatory provisions of law, any order, attachment or similar legal process arising in connection with a court or other similar proceeding, any tax, charge or assessment ruling or required by any Governmental Authority under any other similar circumstances; 
(b) is incurred or assumed solely for the purpose of financing all or any part of the cost of constructing or acquiring Property, and any Secured Indebtedness extending, renewing or replacing, in whole or in part Secured Indebtedness permitted pursuant to this clause (b), so long as the principal amount of the Secured Indebtedness secured by such Lien does not exceed its original principal amount; 
(c) is secured by Property existing prior to the acquisition of such Property or the acquisition of any Subsidiary that is the owner of such Property and is not incurred in contemplation of such acquisition and any Secured Indebtedness extending, renewing or replacing, in whole or in part Secured Indebtedness permitted pursuant to this clause (c), so long as the principal amount of the Secured Indebtedness secured by such Lien does not exceed its original principal amount; 

(d) is owed by any Subsidiary to the Guarantor or any other Subsidiary; 
(e) is secured by any accounts receivable from or invoices to export customers (including, but not limited to, Subsidiaries), any contracts to sell, purchase or receive commodities to or from export customers and any cash collateral and proceeds thereof; 
    Annex A - 3

(f) is incurred pursuant to the Loan Documents or Transaction Documents; 
(g) is secured by accounts receivable and other related assets arising in connection with transfers thereof to the extent such transfers are treated as true sales; 
(h) is secured by a Lien on any checking account, saving account, clearing account, futures account, deposit account, securities account, brokerage account, custody account or other account (or on any assets held in such account), securing obligations under any agreement or arrangement related to the opening of or provision of clearing, pooling, zero-balancing, brokerage, settlement, margin or other services related to such account (or on any assets held in such account), which customarily exist on similar accounts (or on any assets held in such accounts) of corporations in connection with the opening of, or provision of clearing, pooling, zero-balancing, brokerage, settlement, margin or other services related, to such accounts; or
(i) is incurred in connection with letters of credit or other similar instruments issued in the normal course of business of the Guarantor or any Subsidiary, including without limitation, obligations under reimbursement agreements.
"Plan":  a Single Employer Plan or a Multiple Employer Plan.
"Property": any of the Guarantor’s or any Subsidiary’s present or future property including any asset, revenue, or right to receive income or any other property, whether tangible or intangible, real or personal.
“Restricted Party”:  any person listed:
    (a) in the Annex to the Executive Order;
    (b) on the “Specially Designated Nationals and Blocked Persons” list maintained by OFAC; or
    (c) in any successor list to either of the foregoing.
"Secured Indebtedness": all Indebtedness incurred by the Guarantor and any of its Subsidiaries (without duplication) which is secured by Property pledged by the Guarantor or any Subsidiary.
“Total Consolidated Current Assets”: (a) the total consolidated current assets of the Guarantor and its consolidated Subsidiaries determined on a consolidated basis in accordance with GAAP, minus (b) the total time deposits under any trade structured finance program of the Guarantor and its consolidated Subsidiaries.
“Total Tangible Assets”:  at any date of determination, the total amount of assets of the Guarantor and its Subsidiaries (without duplication and excluding any asset owned by the Guarantor or any Subsidiary that represents an obligation of the Guarantor or any other Subsidiary to such Subsidiary or Guarantor) after deducting therefrom all goodwill, trade names, trademarks, patents, licenses, copyrights and other intangible assets.
    Annex A - 4Exhibit 4.1

 

[●],

 

as Issuer,

 

the Guarantors from time to time party hereto

 

AND

 

U.S. Bank National Association,

 

as Trustee1

 

INDENTURE

 

Dated as of [●], 2022

 

15.0% Cash + 5.0% PIK Convertible Senior Notes
due 2026

 

 

1    NTD: This Indenture is subject to comments
from the trustee that are reasonably acceptable to both parties.

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	 	 	Page
    No
	ARTICLE 1

Definitions
	Section 1.01.	 	Definitions	 	1
	Section 1.02.	 	References to Interest	 	18
	ARTICLE 2

Issue, Description, Execution, Registration and Exchange of Notes
	Section 2.01.	 	Designation and Amount	 	19
	Section 2.02.	 	Form of Notes	 	19
	Section 2.03.	 	Date and Denomination of Notes; Payments of Interest and Defaulted Amounts	 	20
	Section 2.04.	 	Execution, Authentication and Delivery of Notes	 	21
	Section 2.05.	 	Exchange and Registration of Transfer of Notes; Restrictions on Transfer; Depositary.	 	21
	Section 2.06.	 	Mutilated, Destroyed, Lost or Stolen Notes	 	26
	Section 2.07.	 	Temporary Notes	 	27
	Section 2.08.	 	Cancellation of Notes Paid, Converted, Etc	 	27
	Section 2.09.	 	CUSIP Numbers	 	27
	Section 2.10.	 	Additional Notes; Repurchases	 	27
	ARTICLE 3

Satisfaction and Discharge
	Section 3.01.	 	Satisfaction and Discharge	 	28
	ARTICLE 4

Particular Covenants of the Company
	Section 4.01.	 	Payment of Principal and Interest	 	28
	Section 4.02.	 	Maintenance of Office or Agency	 	28
	Section 4.03.	 	Appointments to Fill Vacancies in Trustee’s Office	 	29
	Section 4.04.	 	Provisions as to Paying Agent.	 	29
	Section 4.05.	 	Existence	 	30
	Section 4.06.	 	Rule 144A Information Requirement and Annual Reports.	 	30
	Section 4.07.	 	Stay, Extension and Usury Laws	 	31
	Section 4.08.	 	Compliance Certificate; Statements as to Defaults	 	31
	Section 4.09.	 	Further Instruments and Acts	 	32
	Section 4.10.	 	Limitations on Certain Restricted Payments	 	32
	Section 4.11.	 	Limitation on Incurrence of Additional Indebtedness	 	33
	Section 4.12.	 	Transactions with Affiliates	 	34
	Section 4.13.	 	Limitation on Liens	 	35
	Section 4.14.	 	Subsidiary Guarantees	 	35
	Section 4.15.	 	Registration Rights	 	35
	Section 4.16.	 	Payment of Taxes	 	35
	Section 4.17.	 	Compliance with Laws	 	35
	Section 4.18.	 	Limitation on Sales of Assets.	 	36
	Section 4.19.	 	Minimum Liquidity; Maximum Acquisition Spend.	 	37
	ARTICLE 5

Lists of Holders and Reports by the Company and the Trustee
	Section 5.01.	 	Lists of Holders	 	38
	Section 5.02.	 	Preservation and Disclosure of Lists	 	38
	ARTICLE 6

Defaults and Remedies
	Section 6.01.	 	Events of Default	 	38
	Section 6.02.	 	Acceleration; Rescission and Annulment	 	39

 

    i

     

    

 

	 	 	 	 	Page No
	Section 6.03.	 	Additional Interest	 	40
	Section 6.04.	 	Payments of Notes on Default; Suit Therefor	 	41
	Section 6.05.	 	Application of Monies Collected by Trustee	 	42
	Section 6.06.	 	Proceedings by Holders	 	43
	Section 6.07.	 	Proceedings by Trustee	 	43
	Section 6.08.	 	Remedies Cumulative and Continuing	 	43
	Section 6.09.	 	Direction of Proceedings and Waiver of Defaults by Majority of Holders	 	44
	Section 6.10.	 	Notice of Defaults	 	44
	Section 6.11.	 	Undertaking to Pay Costs	 	44
	ARTICLE 7

Concerning the Trustee
	Section 7.01.	 	Duties and Responsibilities of Trustee	 	45
	Section 7.02.	 	Reliance on Documents, Opinions, Etc	 	46
	Section 7.03.	 	No Responsibility for Recitals, Etc	 	47
	Section 7.04.	 	Trustee, Paying Agents, Conversion Agents or Note Registrar May Own Notes	 	47
	Section 7.05.	 	Monies and Shares of Common Stock to Be Held in Trust	 	47
	Section 7.06.	 	Compensation and Expenses of Trustee	 	48
	Section 7.07.	 	Officer’s Certificate and Opinion of Counsel as Evidence	 	48
	Section 7.08.	 	Eligibility of Trustee	 	48
	Section 7.09.	 	Resignation or Removal of Trustee	 	49
	Section 7.10.	 	Acceptance by Successor Trustee	 	49
	Section 7.11.	 	Succession by Merger, Etc	 	50
	Section 7.12.	 	Trustee’s Application for Instructions from the Company	 	50
	ARTICLE 8

Concerning The Holders
	Section 8.01.	 	Action by Holders	 	50
	Section 8.02.	 	Proof of Execution by Holders	 	50
	Section 8.03.	 	Who Are Deemed Absolute Owners	 	51
	Section 8.04.	 	Company-Owned Notes Disregarded	 	51
	Section 8.05.	 	Revocation of Consents; Future Holders Bound	 	51
	ARTICLE 9

Holders’ Meetings
	Section 9.01.	 	Purpose of Meetings	 	51
	Section 9.02.	 	Call of Meetings by Trustee	 	52
	Section 9.03.	 	Call of Meetings by Company or Holders	 	52
	Section 9.04.	 	Qualifications for Voting	 	52
	Section 9.05.	 	Regulations	 	52
	Section 9.06.	 	Voting	 	53
	Section 9.07.	 	No Delay of Rights by Meeting	 	53
	ARTICLE 10

Supplemental Indentures
	Section 10.01.	 	Supplemental Indentures Without Consent of Holders	 	53
	Section 10.02.	 	Supplemental Indentures with Consent of Holders	 	54
	Section 10.03.	 	Effect of Supplemental Indentures	 	55
	Section 10.04.	 	Notation on Notes	 	55
	Section 10.05.	 	Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee	 	55
	ARTICLE 11

Consolidation, Merger, Sale, Conveyance and Lease
	Section 11.01.	 	Company May Consolidate, Etc. on Certain Terms	 	55
	Section 11.02.	 	Successor Corporation to Be Substituted	 	56

 

    ii

     

    

 

	 	 	 	 	
    Page No
	ARTICLE 12

Immunity of Incorporators, Stockholders, Officers and Directors
	Section 12.01.	 	Indenture and Notes Solely Corporate Obligations	 	56
	ARTICLE 13

[Reserved]
	ARTICLE 14

Conversion of Notes
	Section 14.01.	 	Conversion Privilege	 	56
	Section 14.02.	 	Conversion Procedure; Settlement Upon Conversion	 	57
	Section 14.03.	 	Company’s Mandatory Conversion Option.	 	60
	Section 14.04.	 	Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes or during a Redemption Period	 	61
	Section 14.05.	 	Adjustment of Conversion Rate	 	63
	Section 14.06.	 	Adjustments of Prices	 	70
	Section 14.07.	 	Shares to Be Fully Paid	 	70
	Section 14.08.	 	Effect of Recapitalizations, Reclassifications and Changes of the Common Stock	 	70
	Section 14.09.	 	Certain Covenants	 	71
	Section 14.10.	 	Responsibility of Trustee	 	72
	Section 14.11.	 	Notice to Holders Prior to Certain Actions	 	72
	Section 14.12.	 	Stockholder Rights Plans	 	72
	Section 14.13.	 	Exchange in Lieu of Conversion	 	73
	ARTICLE 15

Repurchase of Notes at Option of Holders
	Section 15.01.	 	[Intentionally Omitted]	 	73
	Section 15.02.	 	Repurchase at Option of Holders Upon a Fundamental Change	 	73
	Section 15.03.	 	Withdrawal of Fundamental Change Repurchase Notice	 	75
	Section 15.04.	 	Deposit of Fundamental Change Repurchase Price	 	75
	Section 15.05.	 	Covenant to Comply with Applicable Laws Upon Repurchase of Notes	 	76
	ARTICLE 16

Optional Redemption
	Section 16.01.	 	Optional Redemption	 	76
	Section 16.02.	 	Notice of Optional Redemption; Selection of Notes	 	76
	Section 16.03.	 	Payment of Notes Called for Redemption	 	78
	Section 16.04.	 	Restrictions on Redemption	 	78
	ARTICLE 17

Guarantee
	Section 17.01.	 	Guarantee	 	78
	Section 17.02.	 	Limitation on Guarantor Liability	 	79
	Section 17.03.	 	Release of Guarantees	 	79
	ARTICLE 18

Miscellaneous Provisions
	Section 18.01.	 	Provisions Binding on Company’s Successors	 	79
	Section 18.02.	 	Official Acts by Successor Corporation	 	79
	Section 18.03.	 	Addresses for Notices, Etc	 	80
	Section 18.04.	 	Governing Law; Jurisdiction	 	80
	Section 18.05.	 	Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee	 	80
	Section 18.06.	 	Legal Holidays	 	81

 

    iii

     

    

 

	 	 	 	 	Page
No
	Section 18.07.	 	No Security Interest Created	 	81
	Section 18.08.	 	Benefits of Indenture	 	81
	Section 18.09.	 	Table of Contents, Headings, Etc	 	81
	Section 18.10.	 	Authenticating Agent	 	81
	Section 18.11.	 	Execution in Counterparts	 	82
	Section 18.12.	 	Severability	 	82
	Section 18.13.	 	Waiver of Jury Trial	 	82
	Section 18.14.	 	Force Majeure	 	82
	Section 18.15.	 	Calculations	 	83
	Section 18.16.	 	USA PATRIOT Act	 	83

 

EXHIBIT

 

	Exhibit A	 	Form of Note	 	85

 

    iv

     

    

 

INDENTURE dated as of [●], 2022 between [●],
a Delaware corporation, as issuer (the “Company,” as more fully set forth in Section 1.01) and U.S.
BANK NATIONAL ASSOCIATION, as trustee (the “Trustee,” as more fully set forth in Section 1.01).

 

W I T N E S S E T H:

 

WHEREAS, for its lawful corporate purposes, the
Company has duly authorized the issuance of its 15.0% Cash + 5.0% PIK Convertible Senior Notes due 2026 (the “Notes”),
initially in an aggregate principal amount not to exceed $25,000,000, and in order to provide the terms and conditions upon which the
Notes are to be authenticated, issued and delivered, the Company has duly authorized the execution and delivery of this Indenture; and

 

WHEREAS, the Form of Note, the certificate of authentication
to be borne by each Note, the Form of Notice of Conversion, the Form of Fundamental Change Repurchase Notice and the Form of Assignment
and Transfer to be borne by the Notes are to be substantially in the forms herein provided; and

 

WHEREAS, all acts and things necessary to make the
Notes, when executed by the Company and authenticated and delivered by the Trustee or a duly authorized authenticating agent, as in this
Indenture provided, the valid, binding and legal obligations of the Company, and this Indenture a valid agreement according to its terms,
have been done and performed, and the execution of this Indenture and the issuance hereunder of the Notes have in all respects been duly
authorized.

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

That in order to declare the terms and conditions
upon which the Notes are, and are to be, authenticated, issued and delivered, and in consideration of the premises and of the purchase
and acceptance of the Notes by the Holders thereof, the Company covenants and agrees with the Trustee for the equal and proportionate
benefit of the respective Holders from time to time of the Notes (except as otherwise provided below), as follows:

 

ARTICLE
1

Definitions

 

Section 1.01. Definitions. The
terms defined in this Section 1.01 (except as herein otherwise expressly provided or unless the context otherwise requires)
for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section
1.01. The words “herein,” “hereof,” “hereunder” and words of similar import refer to this Indenture
as a whole and not to any particular Article, Section or other subdivision. The terms defined in this Article include the plural as well
as the singular.

 

“1% Provision” shall have the
meaning specified in Section 14.04(l).

 

“30-Day ADTV” means, as of any
date and with respect to any shares of Common Stock, an amount equal to the arithmetic average of the products, for each Trading Day in
the 30 Trading Day period ending on, and including, the Trading Day immediately preceding such date, of (i) the daily trading volume in
such shares of Common Stock on the applicable exchange for such Trading Day and (ii) the Daily VWAP for such Trading Day; provided that
in the case of calculating the amount in this clause (ii) with respect to any shares of Common Stock, in respect of any Trading Day occurring
on or subsequent to the Ex-Dividend Date for such dividend or distribution, such amount shall be increased by an amount of cash in U.S.
dollars per share of Common Stock distributed, or to be distributed, in such dividend or distribution, net of any applicable withholding
taxes, as determined by the Conversion Agent, unless such dividend or distribution does not occur, in which case such amount shall be
reduced to the amount that would then be in effect if such dividend or distribution had not been declared.

 

“Additional Interest” means all
amounts, if any, payable pursuant to Section 4.06(d) and Section 6.03, as applicable.

 

“Additional Shares” shall have
the meaning specified in Section 14.03(a).

 

“Additional Warrants” shall mean
warrants to purchase a number of shares of Common Stock equal to 50% of the number of shares of Common Stock into which the Notes redeemed
pursuant to Section 16.01 were convertible on the Trading Day immediately prior to the Redemption Date. The Additional Warrants shall
be identical to the Warrants (as such term is defined in the Amended and Restated Subscription Agreement dated [●], 2022 by and between
the Company and Lake Vineyard Fund LP and Silver Rock Empire Fund LP—Series 2022) except that the exercise period of the Additional
Warrants shall terminate on the Maturity Date.

 

     

     

    

 

“Acquired Indebtedness” means
Indebtedness of a Person or any of its Subsidiaries existing at the time such Person becomes a Subsidiary of the Company or at the time
it merges or consolidates with or into the Company or any of its Subsidiaries or assumed in connection with the acquisition of assets
from such Person and in each case whether or not incurred by such Person in connection with, or in anticipation or contemplation of, such
Person becoming a Subsidiary of the Company or such acquisition, merger or consolidation.

 

“Affiliate” of any specified
Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such
specified Person. For the purposes of this definition, “control,” when used with respect to any specified Person means the
power to direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership
of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative
to the foregoing. Notwithstanding anything to the contrary herein, the determination of whether one Person is an “Affiliate”
of another Person for purposes of this Indenture shall be made based on the facts at the time such determination is made or required to
be made, as the case may be, hereunder.

 

“Applicable Premium” means the
present value at such Redemption Date of all required remaining scheduled interest payments (calculated, for the avoidance of doubt, including
PIK Interest compounding upon each Interest Payment Date) due on such Note through the Maturity Date (but excluding accrued and unpaid
interest to the Redemption Date), computed using a discount rate equal to the Treasury Rate; provided that, with respect
to a Note at any Redemption Date occurring before [●], 2025,2 such Applicable Premium shall also include the Additional
Warrants.

 

“Asset Sale” means:

 

(1) the
sale, lease, conveyance or other disposition of any assets or rights; provided that the sale, lease, conveyance or other disposition of
all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, will be governed by Article 11 and/or Article
15 and not by the provisions of the Asset Sale covenant; and

 

(2) the
issuance of Equity Interests in any of the Company’s Subsidiaries or the sale of Equity Interests in any of its Subsidiaries.

 

Notwithstanding the preceding, none of the following items
will be deemed to be an Asset Sale:

 

(1) any
single transaction or series of related transactions that involves assets having a Fair Market Value of less than $1.0 million at such
time;

 

(2) a
transfer of assets (including Equity Interests of Subsidiaries) between or among the Company and its Subsidiaries;

 

(3) an
issuance of Equity Interests by a Subsidiary of the Company to the Company or to another Subsidiary of the Company;

 

(4) the
sale, abandonment, disposition, lease or sublease of products, inventory, equipment, services, accounts receivable or other assets or
property (including, but not limited to, real property), or the granting of any option or other right to purchase, lease or otherwise
acquire such assets, in each case, in the ordinary course of business and any sale or other disposition of assets that are damaged, worn
out, obsolete or otherwise unsuitable for use or unusable by the Company or its Subsidiaries in connection with the conduct of their business
as determined in good faith by the Company’s executive officers;

 

(5) the
sale or other disposition of cash or Cash Equivalents;

 

(6) a
Restricted Payment that does not violate Section 4.10 of this Indenture or a Permitted Investment;

 

(7)  any
sale or disposition deemed to occur in connection with the granting or creating of a Permitted Lien;

 

(8) the
licensing of patents, trademarks, copyrights, and other intellectual property rights in the ordinary course of business;

 

 

	2	NTD: Insert date that is the third anniversary of issuance.

 

    2

     

    

 

(9) any
involuntary loss, damage or destruction of property;

 

(10)  any involuntary
condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, or confiscation or requisition of use of property;
and

 

(11)  the lapse
of registered patents, trademarks and other intellectual property of the Company and its Subsidiaries to the extent not economically desirable
in the conduct of their business and so long as such lapse does not materially interfere with the business of the Company and its Subsidiaries.

 

“Board of Directors” means the
board of directors of the Company or a committee of such board duly authorized to act for it hereunder.

 

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

 

“Business Day” means, with respect
to any Note, any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized or required
by law or executive order to close or be closed. However, solely for purposes of Section 18.06, a day on which the applicable place of
payment is authorized or required by law or executive order to close or be closed will be deemed not to be a “Business Day.”

 

“Capital Stock” means, for any
entity, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however
designated) stock issued by that entity, but shall not include any debt securities convertible or exchangeable for any securities otherwise
constituting Capital Stock pursuant to this definition until so converted or exchanged.

 

“Capitalized Lease Obligation”
means, as to any Person, the obligations of such Person under a lease that are required to be classified and accounted for as capital
lease obligations under GAAP and, for purposes of this definition, the amount of such obligations at any date shall be the capitalized
amount of such obligations at such date, determined in accordance with GAAP.

 

“Cash Covenant Reversion Date”
shall have the meaning specified in Section 4.19(e).

 

“Cash Covenant Suspension Date”
shall have the meaning specified in Section 4.19(c).

 

“Cash Covenant Suspension Event”
shall have the meaning specified in Section 4.19(c).

 

“Cash Equivalents” means:

 

(1) marketable direct obligations issued by, or
unconditionally guaranteed by, the United States Government or issued by any agency thereof and backed by the full faith and credit of
the United States, in each case maturing within one year from the date of acquisition thereof;

 

(2) marketable direct obligations issued or fully
guaranteed by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof,
maturing within one year from the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable
from either S&P or Moody’s;

 

(3) commercial paper maturing no more than 270 days
from the date of creation thereof and, at the time of acquisition, having a rating of at least A-2 from S&P or at least P-2 from Moody’s;

 

(4) in the case of any foreign Subsidiary of the
Company, such local currencies held by it from time to time in the ordinary course of business and the foreign equivalent of Cash Equivalents
described in clause (2) above;

 

(5) demand or time deposit accounts with commercial
banks that satisfy the criteria described in clause (6) below or any other commercial bank organized under the laws of the United
States of America, any state thereof, the District of Columbia, Canada or any province or territory thereof; provided that the full amount
maintained with any such other bank is insured by the Federal Deposit Insurance Corporation or the Canadian Deposit Insurance Corporation,
as applicable;

 

    3

     

    

 

(6) obligations (including, but not limited to,
overnight bank deposits, demand or time deposits, bankers’ acceptances and certificates of deposit) issued or guaranteed by a depository
institution or trust company organized under the laws of the United States of America, any state thereof, the District of Columbia, Canada
or any province or territory thereof or any United States branch of a foreign bank or any member of the European Union; provided that
(A) such instrument has a final maturity not more than one year from the date of purchase thereof by the Company or any Subsidiary of
the Company and (B) such depository institution or trust company has at the date of acquisition thereof combined capital and surplus in
excess of $500.0 million;

 

(7) debt securities with maturities of six months
or less from the date of acquisition backed by standby letters of credit issued by any commercial bank satisfying the criteria described
in clause (6) above;

 

(8) repurchase obligations with a term of not more
than seven days for underlying securities of the types described in clauses (1), (2) and (6) above entered into with any bank meeting
the qualifications specified in clause (6) above; and

 

(9) investments in money market funds which invest
substantially all their assets in securities of the types described in clauses (1) through (7) above.

 

“Cash Interest” means the portion
of an installment of interest due on an Interest Payment Date in respect of Notes that is payable in cash, in each case as provided in
the Notes.

 

“Cash Settlement” shall have
the meaning specified in Section 14.02(a)(i).

 

“Certificate of Designations”
means the certificate of designations of the Company in effect on the date hereof, as amended from time to time.

 

“Clause A Distribution” shall
have the meaning specified in Section 14.04(c).

 

“Clause B Distribution” shall
have the meaning specified in Section 14.04(c).

 

“Clause C Distribution” shall
have the meaning specified in Section 14.04(c).

 

“close of business” means 5:00
p.m. (New York City time).

 

“Combination Settlement” shall
have the meaning specified in Section 14.02(a)(i).

 

“Commission” means the U.S. Securities
and Exchange Commission.

 

“Common Equity” of any Person
means Capital Stock of such Person that is generally entitled (a) to vote in the election of directors of such Person or (b) if such Person
is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others that will
control the management or policies of such Person.

 

“Common Stock” means the voting
common stock of the Company, par value $0.0001 per share, at the date of this Indenture, subject to Section 14.07.

 

“Company” shall have the meaning
specified in the first paragraph of this Indenture, and subject to the provisions of Article 11, shall include its successors and
assigns.

 

“Company Order” means a written
order of the Company signed by any of its Officers and delivered to the Trustee.

 

“Conversion Agent” shall have
the meaning specified in Section 4.02.

 

“Conversion Consideration” shall
have the meaning specified in Section 14.12(a).

 

“Conversion Date” shall have
the meaning specified in Section 14.02(c).

 

“Conversion Obligation” shall
have the meaning specified in Section 14.01(a).

 

“Conversion Price” means as of
any time, $1,000, divided by the Conversion Rate as of such time.

 

    4

     

    

 

“Conversion Rate” shall have
the meaning specified in Section 14.01(a).

 

“Corporate Trust Office” means
the designated office of the Trustee at which at any time this Indenture shall be administered, which office at the date hereof is located
at U.S. Bank National Association, [●]3 Attention: [●], or such other address as the Trustee may designate from
time to time by notice to the Holders and the Company, or the designated corporate trust office of any successor trustee (or such other
address as such successor trustee may designate from time to time by notice to the Holders and the Company).

 

“Credit Facility” means any credit
or debt facilities, commercial paper facilities or other debt instruments, indentures or agreements, in each case providing for revolving
credit loans, term loans, receivables financings, letters of credit or other Indebtedness, in each case, including all agreements, instruments
and documents executed and delivered pursuant to or in connection with any of the foregoing, including but not limited to any notes and
letters of credit issued pursuant thereto and any guarantee and collateral agreement, patent and trademark security agreement, mortgages
or letter of credit applications and other guarantees, pledge agreements, security agreements and collateral documents, in each case as
the same may be amended, supplemented, waived or otherwise modified from time to time, or refunded, refinanced, restructured, replaced,
renewed, repaid, increased or extended from time to time (whether in whole or in part, whether with the original banks, lenders or institutions
or other banks, lenders or institutions or otherwise, and whether provided under any original Credit Facility or one or more other credit
agreements, indentures, financing agreements or other Credit Facilities or otherwise). Without limiting the generality of the foregoing,
the term “Credit Facility” shall include any (i) agreement changing the maturity of any Indebtedness incurred thereunder or
contemplated thereby, (ii) agreement adding Subsidiaries as additional borrowers or guarantors thereunder, (iii) agreement increasing
the amount of Indebtedness incurred thereunder or available to be borrowed thereunder, (iv) Hedging Agreement or other similar agreement
or arrangement with respect thereto or (v) agreement otherwise altering the terms and conditions thereof.

 

“Custodian” means the Trustee,
as custodian for The Depository Trust Company, with respect to the Global Notes, or any successor entity thereto.

 

“Daily Conversion Value” means,
for each of the 30 consecutive Trading Days during the Observation Period, 1/30th of the product of (a) the Conversion
Rate on such Trading Day and (b) the Daily VWAP for such Trading Day.

 

“Daily Measurement Value” means
the Specified Dollar Amount (if any), divided by 30.

 

“Daily Settlement Amount,” for
each of the 30 consecutive Trading Days during the Observation Period, shall consist of:

 

(a)   cash
in an amount equal to the lesser of (i) the Daily Measurement Value and (ii) the Daily Conversion Value on such Trading Day; and

 

(b)   if
the Daily Conversion Value on such Trading Day exceeds the Daily Measurement Value, a number of shares of Common Stock equal to (i) the
difference between the Daily Conversion Value and the Daily Measurement Value, divided by (ii) the Daily VWAP for such
Trading Day.

 

“Daily VWAP” means, for each
of the 30 consecutive Trading Days during the relevant Observation Period, the per share volume-weighted average price as displayed under
the heading “Bloomberg VWAP” on Bloomberg page “[●] <equity> AQR” (or its equivalent successor if such
page is not available) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary
trading session on such Trading Day (or if such volume-weighted average price is unavailable, the market value of one share of the Common
Stock on such Trading Day reasonably determined, using a volume-weighted average method, by a nationally recognized independent investment
banking firm retained for this purpose by the Company). The “Daily VWAP” shall be determined without regard to after-hours
trading or any other trading outside of the regular trading session trading hours.

 

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

 

 

	3	NTD: Trustee to provide.

 

    5

     

    

 

“Defaulted Amounts” means any
amounts on any Note (including, without limitation, the Redemption Price, the Fundamental Change Repurchase Price, principal and interest)
that are payable but are not punctually paid or duly provided for.

 

“Default Settlement Method” means,
initially, Combination Settlement with a Specified Dollar Amount of $1,000 per $1,000 principal amount of Notes; provided, however,
the Company may, from time to time, change the Default Settlement Method by sending written notice of the new Default Settlement Method
to the Holders, the Trustee and the Conversion Agent (if other than the Trustee); and provided, further that
the Company may, by notice to all Holders, the Trustee and the Conversion Agent (if other than the Trustee), irrevocably fix the Settlement
Method (to any Settlement Method that it is then permitted to elect), that will apply to all Note conversions with a Conversion Date that
is on or after the date the Company sends such notice. Notwithstanding the foregoing, no such change in the Default Settlement Method
or irrevocable election will affect any Settlement Method theretofore elected (or deemed to be elected) with respect to any Note pursuant
to Section 14.02. Concurrently with sending written notice to all Holders, the Trustee and the Conversion Agent (if other
than the Trustee) of a change in the Default Settlement Method or an election to irrevocably fix the Settlement Method, the Company shall
promptly issue a report on Form 8-K or press release, which the Company shall post on its website, announcing that it has made such change
to the Default Settlement Method or elected to irrevocably fix the Settlement Method, as the case may be. For the avoidance of doubt,
such an irrevocable election, if made, will be effective without the need to amend this Indenture or the Notes, including pursuant to Section
10.01(i). However, the Company may nonetheless choose to execute such an amendment at its option.

 

“Depositary” means, with respect
to each Global Note, the Person specified in Section 2.05(c) as the Depositary with respect to such Notes, until a successor shall
have been appointed and become such pursuant to the applicable provisions of this Indenture, and thereafter, “Depositary”
shall mean or include such successor.

 

“Designated Financial Institution”
shall have the meaning specified in Section 14.12(a).

 

“Disqualified Capital Stock”
means that portion of any Capital Stock which, by its terms (or by the terms of any security into which it is convertible or for which
it is exchangeable at the option of the holder thereof) or upon the happening of any event, matures or is mandatorily redeemable (other
than solely for Capital Stock in such Person that does not constitute Disqualified Capital Stock and cash in lieu of fractional shares
of such Capital Stock), pursuant to a sinking fund obligation or otherwise, or is redeemable (other than solely for Capital Stock in such
Person that does not constitute Disqualified Capital Stock and cash in lieu of fractional shares of such Capital Stock) at the sole option
of the holder thereof, on or prior to the final maturity date of the Notes; provided that if the Capital Stock in any
Person is issued pursuant to any plan for the benefit of employees of the Company or any Subsidiary or by any such plan to such employees,
such Capital Stock shall not constitute Disqualified Capital Stock solely because it may be required to be repurchased by the Company
or any Subsidiary in order to satisfy applicable statutory or regulatory obligations of such Person.

 

“Distributed Property” shall
have the meaning specified in Section 14.04(c).

 

“Domestic Subsidiary” means any
Subsidiary of the Company that is organized under the laws of the United States of America or any state thereof or the District of Columbia
and any Subsidiary of such Domestic Subsidiary (including, for the avoidance of doubt, any Subsidiary of the Company which is organized
and existing under the laws of Puerto Rico or any other territory of the United States of America).

 

“EBITDA” means earnings before
interest, taxes, depreciation and amortization.

 

“Effective Date” shall have the
meaning specified in Section 14.03(c), except that, as used in Section 14.04 and Section 14.05, “Effective Date”
means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, reflecting
the relevant share split or share combination, as applicable. For the avoidance of doubt, any alternative trading convention on the applicable
exchange or market in respect of shares of Common Stock under a separate ticker symbol or CUSIP number will not be considered “regular
way” for this purpose.

 

“Eligible Market” means The New
York Stock Exchange or The Nasdaq Stock Market.

 

    6

     

    

 

“Equity Conditions” means, with
respect to a given date of determination: (i) on each day during the period beginning 30 days prior to such applicable date of determination
and ending on and including such applicable date of determination (the “Equity Conditions Measuring Period”) either
(x) one or more registration statements filed with the Commission shall be effective and the prospectus contained therein shall be available
on such applicable date of determination (with, for the avoidance of doubt, any shares of Common Stock previously sold pursuant to such
prospectus deemed unavailable) for the resale of all shares of Common Stock to be issued in connection with the event requiring this determination
(without regard to any limitations on conversion set forth herein) (a “Required Minimum Securities Amount”) or (y)
all shares of Common Stock issuable upon conversion of the applicable Notes shall be eligible for sale pursuant to Rule 144 of the Securities
Act, and the Company is then current with its required filings with the Commission; (ii) on each day during the Equity Conditions Measuring
Period, the Common Stock (including all shares of Common Stock issued or issuable upon conversion of the Notes) is listed or designated
for quotation (as applicable) on an Eligible Market and shall not have been suspended from trading on an Eligible Market (other than suspensions
of not more than two days and occurring prior to the applicable date of determination due to business announcements by the Company) nor
shall delisting or suspension by an Eligible Market have been threatened (with a reasonable prospect of delisting occurring after giving
effect to all applicable notice, appeal, compliance and hearing periods) or reasonably likely to occur or pending as evidenced by (A)
a writing by such Eligible Market or (B) the Company falling below the minimum listing maintenance requirements of the Eligible Market
on which the Common Stock is then listed or designated for quotation, as applicable; (iii) during the Equity Conditions Measuring Period,
the Company shall have delivered all shares of Common Stock issuable upon conversion of the Notes on a timely basis in accordance herewith
and to the extent required hereby and to the extent required by any other Transaction Document; (iv) any shares of Common Stock to be
issued in connection with the event requiring determination (or issuable upon conversion of the portion of the Notes being redeemed in
the event requiring this determination (without regards to any limitations on conversion set forth herein)) may be issued in full without
violating the rules or regulations of the Eligible Market on which the Common Stock is then listed or designated for quotation (as applicable);
(v) on each day during the Equity Conditions Measuring Period, no public announcement of a pending, proposed or intended Fundamental Change
shall have occurred which has not been abandoned, terminated or consummated; (vi) the Company shall have no knowledge of any fact that
would reasonably be expected to cause (1) any registration statement filed with the Commission to not be effective or the prospectus contained
therein to not be available, in each case, for the resale of the applicable Required Minimum Securities Amount of all shares of Common
Stock issuable upon conversion of the applicable Notes in accordance with the terms of the Subscription Agreement or (2) any shares of
Common Stock issuable upon conversion of the applicable Notes to not be eligible for sale pursuant to Rule 144, (vii) on each Trading
Day during the Equity Conditions Measuring Period there shall not have occurred any Volume Failure as of such applicable date of determination;
(viii) on the applicable date of determination all shares of Common Stock to be issued in connection with the event requiring this determination
(or issuable upon conversion of the portion of this Note being redeemed in the event requiring this determination (without regards to
any limitations on conversion set forth herein)) may be issued in full from the authorized and available shares of Common Stock of the
Company; (ix) on each day during the Equity Conditions Measuring Period, there shall not have occurred and there shall not exist an Event
of Default or an event that with the passage of time or giving of notice would constitute an Event of Default; (x) the shares of Common
Stock issuable pursuant to the event requiring the satisfaction of the Equity Conditions are duly authorized and will be listed and eligible
upon issuance for trading on an Eligible Market; (xi) no Holder shall be in possession of any material, non-public information provided
to any of them by the Company, any of its Subsidiaries or any of their respective affiliates, employees, officers, representatives, agents
or the like; provided, however that the foregoing shall not apply to information provided to any individual serving as a member
of the board of directors or as a board observer in the course of such individual’s status as a director or board observer; or (xii)
the Company shall not have failed to make any payment due pursuant to any Transaction Document which failure remains incurred as of the
Mandatory Conversion Date.

 

“Equity Conditions Failure” means,
with respect to any date of determination, the Equity Conditions have not been satisfied (or waived in writing by the applicable Holder).

 

“Equity Conditions Measuring Period”
shall have the meaning specified in the definition of “Equity Conditions.”

 

“Equity Interests” means Capital
Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or
exchangeable for Capital Stock).

 

    7

     

    

 

“Event of Default” shall have
the meaning specified in Section 6.01.

 

“Ex-Dividend Date” means the
first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the
right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock
on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market.

 

“Exchange Act” means the Securities
Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exchange Election” shall have
the meaning specified in Section 14.12(a).

 

“Fair Market Value” value of
such asset or liability as determined by senior management in good faith; provided that, except as otherwise provided
in this Indenture, if the fair market value exceeds $1.0 million, such determination shall be made by the Board of Directors of the Company
or an authorized committee thereof in good faith (including as to the value of all non-cash assets and liabilities).

 

“Form of Assignment and Transfer”
means the “Form of Assignment and Transfer” attached as Attachment 3 to the Form of Note attached hereto as Exhibit A.

 

“Form of Fundamental Change Repurchase
Notice” means the “Form of Fundamental Change Repurchase Notice” attached as Attachment 2 to the Form of Note attached
hereto as Exhibit A.

 

“Form of Note” means the “Form
of Note” attached hereto as Exhibit A.

 

“Form of Notice of Conversion”
means the “Form of Notice of Conversion” attached as Attachment 1 to the Form of Note attached hereto as Exhibit A.

 

“Fundamental Change” shall be
deemed to have occurred at the time after the Notes are originally issued if any of the following occurs:

 

(a)  a “person”
or “group” within the meaning of Section 13(d) of the Exchange Act, other than the Company, its direct or indirect Wholly
Owned Subsidiaries and the employee benefit plans of the Company and its Wholly Owned Subsidiaries, has become the direct or indirect
“beneficial owner,” as defined in Rule 13d-3 under the Exchange Act, of Common Stock of the Company representing more than
50% of the voting power of the Common Stock of the Company and has filed a Schedule TO (or any successor schedule, form or report) or
any schedule, form or report under the Exchange Act that discloses such fact, unless such beneficial ownership arises solely as a result
of a revocable proxy delivered in response to a public proxy or consent solicitation made pursuant to the applicable rules and regulations
under the Exchange Act and is not also then reportable on Schedule 13D or Schedule 13G (or any successor schedule) under the Exchange
Act; provided that no person or group shall be deemed to be the beneficial owner of any securities tendered pursuant
to a tender or exchange offer made by or on behalf of such person or group until such tendered securities are accepted for purchase or
exchange under such offer;

 

(b) the consummation of (A) any
recapitalization, reclassification or change of the Common Stock (other than a change to par value or from par value to no par value
or changes resulting from a subdivision or combination) as a result of which the Common Stock would be converted into, or exchanged
for, stock, other securities, other property or assets; (B) any share exchange, consolidation or merger of the Company pursuant to
which the Common Stock will be converted into cash, securities or other property or assets; or (C) any sale, lease or other transfer
in one transaction or a series of transactions of all or substantially all of the consolidated assets of the Company and its
Subsidiaries, taken as a whole, to any Person other than one or more of the Company’s direct or indirect Wholly Owned
Subsidiaries; provided, however, that neither (i) a transaction described in clause (A) or
clause (B) in which the holders of all classes of the Company’s Common Equity immediately prior to such transaction own,
directly or indirectly, more than 50% of all classes of Common Equity of the continuing or surviving corporation or transferee or
the direct or indirect parent thereof immediately after such transaction in substantially the same proportions (relative to each
other) as such ownership immediately prior to such transaction nor (ii) any merger of the Company solely for the purpose of change
its jurisdiction of incorporation that results in a reclassification, conversion or exchange of outstanding shares of Common Stock
solely into shares of common stock of the surviving entity shall, in each case, be a Fundamental Change pursuant to this
clause (b);

 

    8

     

    

 

(c)  the stockholders
of the Company approve any plan or proposal for the liquidation or dissolution of the Company; or

 

(d) the Common Stock
(or other common stock underlying the Notes) ceases to be listed or quoted on any Eligible Market and is not listed or quoted on an Eligible
Market within one Trading Day of such cessation;

 

provided, however, that a transaction or transactions
described in clause (a) or clause (b) above shall not constitute a Fundamental Change, if at least 90% of the consideration
received or to be received by the common stockholders of the Company, excluding cash payments for fractional shares and cash payments
made in respect of dissenters’ appraisal rights, in connection with such transaction or transactions consists of shares of common
stock that are listed or quoted on any Eligible Market or will be so listed or quoted when issued or exchanged in connection with such
transaction or transactions and as a result of such transaction or transactions such consideration, excluding cash payments for fractional
shares and cash payments made in respect of dissenters’ appraisal rights (subject to the provisions of Section 14.02(a), Section
14.04 and Section 14.03) becomes Reference Property for the Notes. If any transaction in which the Common Stock is replaced by the
securities of another entity occurs, following completion of any related Make-Whole Fundamental Change Period (or, in the case of a transaction
that would have been a Fundamental Change or a Make-Whole Fundamental Change but for the proviso immediately following clause (d)
of this definition, following the effective date of such transaction) references to the Company in this definition shall instead be references
to such other entity.

 

For purposes of this definition, any transaction
that constitutes a Fundamental Change pursuant to both clause (a) and clause (b) of this definition (without regard to the proviso
in clause (2)) shall be deemed a Fundamental Change solely under clause (2) of such definition (subject to such proviso).

 

“Fundamental Change Company Notice”
shall have the meaning specified in Section 15.02(c).

 

“Fundamental Change Repurchase Date”
shall have the meaning specified in Section 15.02(a).

 

“Fundamental Change Repurchase Notice”
shall have the meaning specified in Section 15.02(b)(i).

 

“Fundamental Change Repurchase Price”
shall have the meaning specified in Section 15.02(a).

 

The terms “given”, “mailed”,
“notify,” “delivered” or “sent” with respect to any notice to be given to a Holder
pursuant to this Indenture, including in circumstances pursuant to which such notice must be “written,” shall mean notice
(x) given to the Depositary (or its designee) pursuant to the standing instructions from the Depositary or its designee, including by
electronic mail in accordance with accepted practices or procedures at the Depositary (in the case of a Global Note) or (y) mailed to
such Holder by first class mail, postage prepaid, at its address as it appears on the Note Register (in the case of a Physical Note),
in each case, in accordance with Section 18.03. Notice so “given” shall be deemed to include any notice to be “mailed”
or “delivered,” as applicable, under this Indenture.

 

“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 may be approved by a significant segment of the accounting profession of the United States, which are in effect as of the Issue
Date.

 

“Global Note” shall have the
meaning specified in Section 2.05(b).

 

“Guarantee” means a guarantee
by a Guarantor of the Company’s obligations under this Indenture.

 

“Guarantor” means each Domestic
Subsidiary of the Company that is a guarantor of the Notes, including any Person that is required after the Issue Date to execute a Guarantee
of the Notes pursuant to Section 4.14; provided that any Person constituting a Guarantor as described above shall cease to constitute
a Guarantor when its respective Guarantee is released in accordance with the terms of this Indenture. On the Issue Date, each Domestic
Subsidiary of the Company shall be a Guarantor.

 

    9

     

    

 

“Hedging Agreement” means any
rate swap agreement, forward rate agreement, commodity swap, commodity option, interest rate option, forward foreign exchange agreement,
spot foreign exchange agreement, rate cap agreement, rate floor agreement, rate collar agreement, currency swap agreement, cross-currency
rate swap agreement, currency option and any other similar agreement entered into for the purposes of hedging risks of currency, interest,
or commodity price fluctuations or similar matters, or any indemnity agreements and arrangements entered into in connection therewith,
in each case, as the same may be amended, restated, supplemented, or otherwise modified from time to time.

 

“Hedging Obligations” means,
with respect to any Person, the obligations of such Person under a Hedging Agreement.

 

“Holder,” as applied to any Note,
or other similar terms (but excluding the term “beneficial holder”), means any Person in whose name at the time a particular
Note is registered on the Note Register.

 

“Horizon Revolving Credit Facility”
means the senior secured facility under the Venture Loan and Security Agreement, dated as of March 5, 2021, by and between Horizon Technology
Finance Corporation, as lender and collateral agent, and E la Carte, Inc., a Delaware corporation.

 

“Indebtedness” means, with respect
to any Person on any date of determination (without duplication):

 

(1)   the
principal of indebtedness of such Person for borrowed money;

 

(2)   the
principal of obligations of such Person evidenced by bonds, debentures, notes or other similar instruments;

 

(3)   all
reimbursement obligations of such Person in respect of letters of credit, bankers’ acceptances or other similar instruments (the
amount of such obligations being equal at any time to the aggregate then undrawn and unexpired amount of such letters of credit or other
instruments plus the aggregate amount of drawings thereunder that have not been reimbursed) (except to the extent such reimbursement obligations
relate to trade payables and accounts payable and such obligations are satisfied within 30 days of Incurrence);

 

(4)   the
principal component of all obligations of such Person to pay the deferred and unpaid purchase price of property (except trade payables
or similar obligations to trade creditors), which purchase price is due more than one year after the date of placing such property in
service or taking final delivery and title thereto;

 

(5)   Capitalized
Lease Obligations of such Person;

 

(6)   the
principal component of all obligations, or liquidation preference, of such Person with respect to any Disqualified Capital Stock or, with
respect to any Subsidiary, any Preferred Stock (but excluding, in each case, any accrued dividends);

 

(7)   the
principal component of all Indebtedness of other Persons secured by a Lien on any asset of such Person, whether or not such Indebtedness
is assumed by such Person; provided, however, that the amount of such Indebtedness will be the lesser of (a) the fair market value of
such asset at such date of determination (as determined in good faith by the Company) and (b) the amount of such Indebtedness of such
other Persons;

 

(8)   guarantees
by such Person of the principal component of Indebtedness of the type referred to in clauses (1), (2), (3), (4), (5) and (9) of other
Persons to the extent guaranteed by such Person;

 

(9)   to
the extent not otherwise included in this definition, net obligations of such Person under Hedging Obligations (the amount of any such
obligations to be equal at any time to the net payments under such agreement or arrangement giving rise to such obligation that would
be payable by such Person at the termination of such agreement or arrangement);

 

with respect to clauses (1), (2), (4) and (5) above, if and to the
extent that any of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would appear as a liability upon
a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP.

 

    10

     

    

 

The amount of Indebtedness of any Person at any
time in the case of a revolving credit or similar facility will be the total amount of funds borrowed and then outstanding. The amount
of any Indebtedness outstanding as of any date will be (a) the accreted value thereof in the case of any Indebtedness issued with original
issue discount and (b) the principal amount of Indebtedness, or liquidation preference thereof, in the case of any other Indebtedness.
Indebtedness will be calculated without giving effect to the effects of Financial Accounting Standards Board Accounting Standards Codification
Topic No. 815 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for
any purpose under this Indenture as a result of accounting for any embedded derivatives created by the terms of such Indebtedness.

 

“Indenture” means this instrument
as originally executed or, if amended or supplemented as herein provided, as so amended or supplemented.

 

“Independent Financial Advisor”
means a firm (1) which does not, and whose directors, officers and employees or Affiliates do not, have a direct or indirect financial
interest in the Company, and (2) which, in the judgment of the Board of Directors of the Company, is otherwise independent and qualified
to perform the task for which it is to be engaged.

 

“interest” means, with respect
to the Notes, interest (including PIK Interest) on the Notes.

 

“Interest Payment Date” means
each March 15, June 15, September 15 and December 15 of each year, beginning on [●], 2022.

 

“Investment” means, with respect
to any Person, any direct or indirect loan or other extension of credit (including, without limitation, a guarantee) or capital contribution
to (by means of any transfer of cash or other property to others or any payment for property or services for the account or use of others),
or any purchase or acquisition by such Person of any Capital Stock, bonds, notes, debentures or other securities or evidences of Indebtedness
issued by, any other Person. “Investment” shall exclude extensions of trade credit by the Company and its Subsidiaries in
accordance with normal trade practices of the Company or such Subsidiary, as the case may be.

 

“Issue Date” means [●],
2022, the date of original issuance of the Notes.

 

“Last Original Issue Date” means,
(A) with respect to the Notes offered pursuant to the Amended and Restated Subscription Agreement dated [●], 2022 by and between
the Company and Lake Vineyard Fund LP and Silver Rock Empire Fund LP—Series 2022, the date of this Indenture; (B) with respect to
any additional Notes issued pursuant to the first sentence of Section 2.10, and any Notes issued in exchange therefor or in substitution
thereof, either (i) the later of (x) the date such Notes are originally issued and (y) the last date any Notes are originally issued as
part of the same offering pursuant to the exercise of an option granted to the initial purchaser(s) of such Notes to purchase additional
Notes; or (ii) such other date as is specified in an Officer’s Certificate delivered to the Trustee before the original issuance
of such Notes.

 

“Last Reported Sale Price” of
the Common Stock (or any other security for which a last reported sale price must be determined) on any date means the closing sale price
(or if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the
average bid and the average ask prices) per share of the Common Stock (or such other security) on that date as reported in composite transactions
for the principal U.S. national or regional securities exchange on which the Common Stock is traded. If the Common Stock (or such other
security) is not listed for trading on a U.S. national or regional securities exchange on the relevant date, the “Last Reported
Sale Price” shall be the last quoted bid price per share of the Common Stock (or such other security) in the over-the-counter
market on the relevant date as reported by OTC Markets Group Inc. or a similar organization. If the Common Stock (or such other security)
is not so quoted, the “Last Reported Sale Price” shall be the average of the midpoint of the last bid and ask prices
per share of the Common Stock (or such other security) on the relevant date from each of at least three nationally recognized independent
investment banking firms selected by the Company for this purpose. The “Last Reported Sale Price” shall be determined
without regard to after-hours trading or any other trading outside of regular trading session hours.

 

“Lien” means any lien, mortgage,
deed of trust, pledge, security interest, charge or encumbrance of any kind (including any conditional sale or other title retention agreement,
any lease in the nature thereof and any agreement to give any security interest).

 

    11

     

    

 

“Make-Whole Fundamental Change”
means any transaction or event that constitutes a Fundamental Change (as defined above and determined after giving effect to any exceptions
to or exclusions from such definition, but without regard to the proviso in clause (b) of the definition thereof).

 

“Make-Whole Fundamental Change Period”
shall have the meaning specified in Section 14.03(a).

 

“Mandatory Conversion” means
a conversion pursuant to Section 14.03(a).

 

“Mandatory Conversion Condition”
means the conditions required for the Company to cause Notes to be converted pursuant to Section 14.03(a).

 

“Mandatory Conversion Date” means
the Conversion Date for a Mandatory Conversion, as provided in Section 14.03(c).

 

“Mandatory Conversion Notice”
shall have the meaning specified in Section 14.03(b).

 

“Mandatory Conversion Notice Date”
means the date on which the Company provides the Mandatory Conversion Notice in accordance with Section 14.03(b).

 

“Mandatory Conversion Right”
shall have the meaning specified in Section 14.03(a).

 

“Market Capitalization” means,
with respect to any date of determination, an amount equal to (i) the total number of issued and outstanding publicly traded shares of
Common Stock multiplied by (ii) the 30-Day ADTV immediately preceding such date.

 

“Market Disruption Event” means,
for the purpose of determining amounts due upon conversion only (a) a failure by the primary U.S. national or regional securities exchange
or market on which the Common Stock is listed or admitted for trading to open for trading during its regular trading session or (b) the
occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Common Stock for more than one half-hour
period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price
exceeding limits permitted by the relevant stock exchange or otherwise) in the Common Stock or in any options contracts or futures contracts
relating to the Common Stock.

 

“Maturity Date” means [●],
2026.

 

“Merger Event” shall have the
meaning specified in Section 14.07(a).

 

“Nasdaq Stock Market” shall mean
the Nasdaq Capital Market, the Nasdaq Global Market and the Nasdaq Global Select Market.

 

“Net Proceeds” means
the aggregate cash proceeds and the fair market value of any Cash Equivalents received by the Company or any of its Subsidiaries in respect
of any Asset Sale (including, without limitation, any cash or Cash Equivalents received upon the sale or other disposition of any non-cash
consideration received in any Asset Sale), net of (1) the direct costs relating to such Asset Sale, including, without limitation, legal,
accounting and investment banking fees, sales commissions, rationalization and other  relocation expenses incurred as a result of
the Asset Sale, and taxes paid or payable as a result of the Asset Sale after taking into account any available tax credits or deductions
and any tax sharing arrangements, (2) amounts required to be applied to the repayment of Indebtedness secured by a Permitted Lien on the
asset or assets that were the subject of such Asset Sale, and (3) any reserve for adjustment in respect of the sale price of such asset
or assets established in accordance with GAAP.

 

“Net Proceeds Offer” shall have
the meaning specified in Section 4.18(d).

 

“Note” or “Notes”
shall have the meaning specified in the first paragraph of the recitals of this Indenture.

 

“Note Obligation” shall have
the meaning specified in Section 13.01.

 

“Note Register” shall have the
meaning specified in Section 2.05(a).

 

“Note Registrar” shall have the
meaning specified in Section 2.05(a).

 

    12

     

    

 

“Notice of Conversion” shall
have the meaning specified in Section 14.02(b).

 

“Notice of Redemption” shall
have the meaning specified in Section 16.02(a).

 

“Obligations” means all obligations
for principal, premium, interest, penalties, fees, expenses, indemnifications, reimbursements, damages and other liabilities payable under
the documentation governing any Indebtedness.

 

“Observation Period” with respect
to any Note surrendered for conversion means: (i) subject to clause (ii), if the relevant Conversion Date occurs prior to [●],
20264, the 30 consecutive Trading Day period beginning on, and including, the second Trading Day immediately succeeding such
Conversion Date; (ii) if the relevant Conversion Date for a Note called for redemption occurs during a Redemption Period pursuant to Section
16.02, the 30 consecutive Trading Days beginning on, and including, the 31st Scheduled Trading Day immediately preceding
such Redemption Date; and (iii) subject to clause (ii) of this definition above, if the relevant Conversion Date occurs on or after
[●], 2026, the 30 consecutive Trading Days beginning on, and including, the 31st Scheduled Trading Day immediately
preceding the Maturity Date.

 

“Officer” means, with respect
to the Company, the Chief Executive Officer, the Chief Financial Officer, or the Chief Revenue Officer, or any Vice President (whether
or not designated by a number or numbers or word or words added before or after the title “Vice President”).

 

“Officer’s Certificate,”
when used with respect to the Company, means a certificate that is delivered to the Trustee and that is signed by any Officer of the Company.
Each such certificate shall include the statements provided for in Section 18.05 if and to the extent required by the provisions of such
Section. The Officer giving an Officer’s Certificate pursuant to Section 4.08 shall be the principal executive, financial or
accounting officer of the Company.

 

“open of business” means 9:00
a.m. (New York City time).

 

“Opinion of Counsel” means an
opinion in writing signed by legal counsel, who may be an employee of or counsel to the Company, or other counsel who is reasonably acceptable
to the Trustee, which opinion may contain customary exceptions and qualifications as to the matters set forth therein, that is delivered
to the Trustee. Each such opinion shall include the statements provided for in Section 18.05 if and to the extent required by the provisions
of such Section 18.05.

 

“Optional Redemption” shall have
the meaning specified in Section 16.01.

 

“outstanding,” when used with
reference to Notes, shall, subject to the provisions of Section 8.04, mean, as of any particular time, all Notes authenticated and
delivered by the Trustee under this Indenture, except:

 

(a)  Notes
theretofore canceled by the Trustee or accepted by the Trustee for cancellation;

 

(b)  Notes,
or portions thereof, that have become due and payable and in respect of which monies in the necessary amount shall have been deposited
in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside and segregated in trust by the
Company (if the Company shall act as its own Paying Agent);

 

(c)  Notes
that have been paid pursuant to Section 2.08 or Notes in lieu of which, or in substitution for which, other Notes shall have been
authenticated and delivered pursuant to the terms of Section 2.08 unless proof satisfactory to the Trustee is presented that any
such Notes are held by protected purchasers in due course;

 

(d)  Notes
converted pursuant to Article 14 and required to be cancelled pursuant to Section 2.08;

 

(e)  Notes
redeemed pursuant to Article 16; and

 

(f)  Notes
repurchased by the Company pursuant to the penultimate sentence of Section 2.10 and delivered to the Trustee for cancellation.

 

 

	4	NTD: Insert date that is 32 days prior to the Maturity Date.

 

    13

     

    

 

“Paying Agent” shall have the
meaning specified in Section 4.02.

 

“Permitted Business” means
a business in which the Company and its Subsidiaries were engaged on the Closing Date, and any business that is related, ancillary, incidental
or complementary thereto.

 

“Permitted Indebtedness” shall
have the meaning specified in Section 4.11(b).

 

“Permitted Investment” means:

 

(1) subject
to Section 4.19, any Investment in a Subsidiary (including the Capital Stock of a Subsidiary) or the Company or a Person that will, upon
the making of such Investment, become a Subsidiary or merge or consolidate with or into, or transfer or convey all or substantially all
its assets to, or is liquidated into, the Company or a Subsidiary;

 

(2)  receivables
owing to the Company or any Subsidiary created or acquired in the ordinary course of business and payable or dischargeable in accordance
with customary trade terms;

 

(3)  payroll,
travel and similar advances to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting
purposes and that are made in the ordinary course of business;

 

(4)  any
Investments in or repurchases of the Notes;

 

(5)  subject
to Section 4.19, any Investments consisting of purchases and acquisitions of inventory, supplies, services, material and equipment or
licenses or leases of intellectual property, in any case, in the ordinary course of business or for the purpose of obtaining, maintaining
or renewing client contracts and loans and advances to distributors, in each case, in the ordinary course of business;

 

(6) Investments
in prepaid expenses, negotiable instruments held for collection and lease, utility and workers’ compensation, performance and similar
deposits entered into as a result of the operations of the business of the Company and its Subsidiaries in the ordinary course of business;

 

(7) Guarantees
issued in accordance with Section 4.14 and Article 17;

 

(8) Investments
in existence on the Issue Date and any extension, modification, replacement, reinvestment or renewal thereof; provided that
any such extensions, modifications, replacements, reinvestments or renewals are not more disadvantageous to the Holders in any material
respect than such Investments as they were in existence on the Issue Date; and

 

(9) cash
and Cash Equivalents.

 

“Permitted Liens” means the following
types of Liens:

 

(1) Liens
securing Indebtedness incurred pursuant to Section 4.11(b)(1) and all related Obligations;

 

(2)  (i)
Liens securing Indebtedness incurred pursuant to Section 4.11(b)(6) and all related Obligations; provided that such Liens do not extend
to any property or assets other than property or assets acquired with such Indebtedness (and additions, accessions, improvements and replacements
and customary deposits in connection therewith and proceeds and products therefrom) and (ii) Liens incurred in the ordinary course of
business securing Indebtedness incurred pursuant to Section 4.11(b)(13);

 

(3)   Liens
imposed by law, including carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s Liens or other
similar Liens, incurred in the ordinary course of business;

 

(4)  Liens for
taxes, assessments or other governmental charges not yet subject to penalties for non-payment or that are being contested in good faith
by appropriate proceedings, provided appropriate reserves required pursuant to GAAP have been made in respect thereof;

 

(5)   Liens
in favor of issuers of surety or performance bonds or letters of credit or bankers’ acceptances or similar obligations issued pursuant
to the request of and for the account of such Person in the ordinary course of its business; provided, however, that such letters of credit
do not constitute Indebtedness;

 

    14

     

    

 

(6)   pledges,
deposits or Liens in connection with workers’ compensation, professional liability insurance, insurance programs, unemployment insurance
and other social security and other similar legislation or other insurance-related obligations (including, without limitation, pledges
or deposits securing liability to insurance carriers under insurance or self-insurance arrangements);

 

(7)   Liens
existing on the Issue Date (other than Liens permitted under clauses (1) and (2)) and replacement Liens that do not encumber additional
assets, unless such encumbrance is otherwise permitted;

 

(8)   Liens
securing Indebtedness or other obligations of a Subsidiary of the Company owing to the Company or another Subsidiary of the Company; and

 

(9)   subject
to Section 4.19, Liens existing on property or assets of a Person at the time such Person becomes a Subsidiary of the Company (or at the
time the Company or a Subsidiary acquires such property or assets); provided, however, that such Liens and arrangements are not created
in connection with, or in contemplation of, such other Person becoming such a Subsidiary (or such acquisition of such property or assets).

 

“Physical Settlement” shall have
the meaning specified in Section 14.02(a)(i).

 

“PIK Interest” means the portion
of an installment of interest due on each Interest Payment Date in respect of Notes that is payable in PIK Notes or by increasing the
outstanding principal amount of the Notes, in each case as provided in the Notes.

 

“PIK Notes” shall have the meaning
specified in Section 2.02.

 

“PIK Payment” shall have the
meaning specified in Section 2.02.

 

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

 

“Physical Notes” means permanent
certificated Notes in registered form issued in denominations of $1,000 principal amount and integral multiples thereof.

 

“Predecessor Note” of any particular
Note means every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purposes
of this definition, any Note authenticated and delivered under Section 2.06 in lieu of or in exchange for a mutilated, lost, destroyed
or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note that it replaces.

 

“Preferred Stock” of any Person
means any Capital Stock of such Person that has preferential rights to any other Capital Stock of such Person with respect to dividends
or redemptions or upon liquidation.

 

“Record Date” means, with respect
to any dividend, distribution or other transaction or event in which the holders of Common Stock (or other applicable security) have the
right to receive any cash, securities or other property or in which the Common Stock (or such other security) is exchanged for or converted
into any combination of cash, securities or other property, the time and date fixed for determination of holders of the Common Stock (or
such other security) entitled to receive such cash, securities or other property (whether such date is fixed by the Company in good faith,
by statute, by contract or otherwise).

 

“Redemption Date” shall have
the meaning specified in Section 16.02(a).

 

“Redemption Notice Date” means
the date on which the Company provides the Notice of Redemption in accordance with Section 16.02.

 

“Redemption Period” means, with
respect to any Optional Redemption of Notes pursuant to Article 16, the period from, and including, the Redemption Notice Date for such
Optional Redemption to, and including, the close of business on the second Scheduled Trading Day immediately preceding the Redemption
Date.

 

“Redemption Price” means,
for any Notes to be redeemed pursuant to Section 16.01, 100% of the principal amount of such Notes, plus accrued
and unpaid interest, if any, to, but excluding, the Redemption Date (unless the Redemption Date falls after a Regular Record Date
but on or prior to the immediately succeeding Interest Payment Date, in which case the Company will pay, on or, at the
Company’s election, before such Interest Payment Date, the full amount of accrued and unpaid interest to the Holders of record
of such Notes as of the close of business on such Regular Record Date, and the Redemption Price will be equal to 100% of the
principal amount of such Notes to be redeemed) plus the Applicable Premium.

 

    15

     

    

 

“Reference Property” shall have
the meaning specified in Section 14.07(a).

 

“Refinancing Indebtedness” shall
have the meaning specified in Section 4.11(b)(10).

 

“Registration Rights Agreement”
means the Amended and Restated Registration Rights Agreement dated [●], 2022, by and among the Company, Ventoux CCM Acquisition Corp.,
Ventoux Acquisition Holdings LLC, Chardan International Investments, LLC, Silver Rock Contingent Credit Fund LP, and the other parties
thereto.

 

“Registrable Securities” shall
have the meaning specified in the Subscription Agreement.

 

“Regular Record Date,” with respect
to any Interest Payment Date, means the June 1 or December 1 (whether or not such day is a Business Day), as the case may be, immediately
preceding the applicable June 15 or December 15 Interest Payment Date, respectively.

 

“Reorganization Merger Event”
means a Merger Event that is solely for the purpose of changing the jurisdiction of organization of the Company that (x) does not constitute
a Fundamental Change or a Make-Whole Fundamental Change and (y) results in a reclassification, conversion or exchange of outstanding shares
of Common Stock solely into shares of common stock of the surviving entity and such common stock becomes Reference Property for the Notes.

 

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

 

“Restricted Investment” means
any Investment other than a Permitted Investment.

 

“Restricted Securities” shall
have the meaning specified in Section 2.05(c).

 

“Restrictive Notes Legend” shall
have the meaning specified in Section 2.05(c).

 

“Rule 144” means Rule 144 as
promulgated under the Securities Act.

 

“Rule 144A” means Rule 144A as
promulgated under the Securities Act.

 

“Scheduled Trading Day” means
a day that is scheduled to be a Trading Day on the principal U.S. national or regional securities exchange or market on which the Common
Stock is listed or admitted for trading. If the Common Stock is not so listed or admitted for trading, “Scheduled Trading Day”
means a Business Day.

 

“Securities Act” means the Securities
Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Settlement Amount” shall have
the meaning specified in Section 14.02(a)(iv).

 

“Settlement Method” means, with
respect to any conversion of Notes, Physical Settlement, Cash Settlement or Combination Settlement, as elected (or deemed to have been
elected) by the Company.

 

“Settlement Method Election Date”
shall have the meaning specified in Section 14.02(a)(iii).

 

“Settlement Notice” shall have
the meaning specified in Section 14.02(a)(iii).

 

    16

     

    

 

“Significant Subsidiary” means
a Subsidiary of the Company that meets the definition of “significant subsidiary” in Rule 1-02(w) of Regulation S-X under
the Exchange Act; provided that, in the case of a Subsidiary that meets the criteria of clause (1)(iii) of the definition
thereof but not clause (1)(i) or (1)(ii) thereof, in each case, as such rule is in effect on the date hereof, such Subsidiary shall
be deemed not to be a Significant Subsidiary unless the Subsidiary’s income (or loss) from continuing operations before income taxes
exclusive of amounts attributable to any non-controlling interests for the last completed fiscal year prior to the date of such determination
exceeds $1,000,000. For the avoidance of doubt, to the extent any such Subsidiary would not be deemed to be a “significant subsidiary”
under the relevant definition set forth in Article 1, Rule 1-02 of Regulation S-X (or any successor rule) as in effect on the
relevant date of determination, such Subsidiary shall not be deemed to be a “significant subsidiary” under this Indenture
irrespective of whether such Subsidiary would otherwise be deemed to be a “significant subsidiary” pursuant to the immediately
preceding sentence.

 

“Specified Dollar Amount” means
the maximum cash amount per $1,000 principal amount of Notes to be received upon conversion as specified in the Settlement Notice (or
deemed specified as provided in Section 14.02(a)(iii)) related to any converted Notes.

 

“Spin-Off” shall have the meaning
specified in Section 14.04(c).

 

“Stock Price” shall have the
meaning specified in Section 14.03(c).

 

“Subscription Agreement” means,
collectively, the Subscription Agreements dated as of [●], 2022, each between the Company and the Subscriber defined therein.

 

“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, general partners or trustees thereof is at the time owned or controlled, directly or indirectly,
by (i) such Person; (ii) such Person and one or more Subsidiaries of such Person; or (iii) one or more Subsidiaries of such Person.

 

“Successor Company” shall have
the meaning specified in Section 11.01(a).

 

“Suspension Period” shall have
the meaning specified in Section 4.19(c).

 

“Trading Day” means, except for
determining amounts due upon conversion as set forth below, a day on which (i) trading in the Common Stock (or other security for which
a closing sale price must be determined) generally occurs on The Nasdaq Stock Market or, if the Common Stock (or such other security)
is not then listed on The Nasdaq Stock Market, on the principal other U.S. national or regional securities exchange on which the Common
Stock (or such other security) is then listed or, if the Common Stock (or such other security) is not then listed on a U.S. national or
regional securities exchange, on the principal other market (including an over-the-counter market) on which the Common Stock (or such
other security) is then traded and (ii) a Last Reported Sale Price for the Common Stock (or closing sale price for such other security)
is available on such securities exchange or market; provided that if the Common Stock (or such other security) is not
so listed or traded, “Trading Day” means a Business Day; and provided further that, for purposes of
determining amounts due upon conversion only, “Trading Day” means a day on which (x) there is no Market Disruption
Event and (y) trading in the Common Stock generally occurs on The Nasdaq Stock Market or, if the Common Stock is not then listed on The
Nasdaq Stock Market, on the principal other U.S. national or regional securities exchange on which the Common Stock is then listed or,
if the Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the
Common Stock is then listed or admitted for trading, except that if the Common Stock is not so listed or admitted for trading, “Trading
Day” means a Business Day.

 

“Trading Price” of the Notes
on any date of determination means the average of the secondary market bid quotations obtained for $2,000,000 principal amount of Notes
at approximately 3:30 p.m., New York City time, on such determination date from three independent nationally recognized securities dealers
the Company selects for this purpose; provided that if three such bids cannot reasonably be obtained but two such bids
are obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be obtained, that one bid shall
be used.

 

“Transaction Document” means
any Subscription Agreement, this Indenture and the Notes.

 

    17

     

    

 

“transfer” shall have the meaning
specified in Section 2.05(c).

 

“Treasury Rate” means, at any
redemption date, the yield to maturity as of such redemption date of constant maturity United States Treasury securities (as compiled
and published in the most recent Federal Reserve Statistical Release H. 15 (519) that has become publicly available at least two Business
Days prior to such redemption date (or, if such statistical release is no longer published, any publicly available source of similar market
data)) most nearly equal to the period from such redemption date to [●], 20255 (or, in the case of a redemption after
such date, [●], 20256; provided, however, that if no published maturity exactly corresponds with such date, then the Treasury
Rate shall be interpolated or extrapolated on a straight-line basis from the arithmetic mean of the yields for the next shortest and next
longest published maturities; provided further, however, that if the period from such redemption date to [●], 2025 (or, in the case
of a redemption after such date, [●], 2025, 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.

 

“Trigger Event” shall have the
meaning specified in Section 14.04(c).

 

“Trust Indenture Act” means the
Trust Indenture Act of 1939, as amended, as it was in force at the date of execution of this Indenture; provided, however,
that in the event the Trust Indenture Act of 1939 is amended after the date hereof, the term “Trust Indenture Act” shall mean,
to the extent required by such amendment, the Trust Indenture Act of 1939, as so amended.

 

“Trustee” means the Person named
as the “Trustee” in the first paragraph of this Indenture 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.

 

“unit of Reference Property”
shall have the meaning specified in Section 14.07(a).

 

“Valuation Period” shall have
the meaning specified in Section 14.04(c).

 

“Volume Failure” means, with
respect to a particular date of determination, the average daily dollar trading volume (as reported on Bloomberg) of the Common Stock
on the primary U.S. national or regional securities exchange or market on which the Common Stock is listed on any Trading Day during the
20 Trading Day period ending on the Trading Day immediately preceding such date of determination (such period, the “Volume Failure
Measuring Period”), is less than $2,000,000 (as adjusted for any stock splits, stock dividends, stock combinations, recapitalizations
or other similar transactions occurring after the effective date of the Subscription Agreement). All such determinations to be appropriately
adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions during such Volume
Failure Measuring Period.

 

“Weighted Average Life to Maturity”
means, when applied to any Indebtedness at any date, the number of years obtained by dividing (1) the then outstanding aggregate principal
amount of such Indebtedness into (2) the sum of the total of the products obtained by multiplying (a) the amount of each then remaining
installment, sinking fund, serial maturity or other required payment of principal, including payment at final maturity, in respect thereof,
by (b) the number of years (calculated to the nearest one-twelfth) which will elapse between such date and the making of such payment.

 

“Wholly Owned Subsidiary” means,
with respect to any Person, any Subsidiary of such Person, except that, solely for purposes of this definition, the reference to “more
than 50%” in the definition of “Subsidiary” shall be deemed replaced by a reference to “100%.”

 

Section 1.02.  References
to Interest. Unless the context otherwise requires, any reference to interest on,
or in respect of, any Note in this Indenture shall be deemed to include Additional Interest if, in such context, Additional Interest is,
was or would be payable pursuant to any of Section 4.06(d) and Section 6.03. Unless the context otherwise requires, any express
mention of Additional Interest in any provision hereof shall not be construed as excluding Additional Interest in those provisions hereof
where such express mention is not made.

 

 

	5	NTD: Insert date that is the day before the third anniversary
of issuance.

	6	NTD: Insert date that is third anniversary of issuance.

 

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ARTICLE
2

Issue, Description, Execution, Registration and Exchange of Notes

 

Section 2.01.  Designation
and Amount. The Notes shall be designated as the “15.0% Cash + 5.0% PIK Convertible
Senior Notes due 2026.” The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is
initially limited to $25,000,000 (excluding PIK Notes), subject to Section 2.10 and except for Notes authenticated and delivered
upon registration or transfer of, or in exchange for, or in lieu of other Notes to the extent expressly permitted hereunder. Unless the
context requires otherwise, references to the “principal” or “principal amount” of Notes including for purposes
of calculating any Redemption Price, Fundamental Change Repurchase Price or otherwise, includes any increase in the principal amount of
the Notes as a result of a PIK Payment and all references to “interest” shall include Cash Interest and PIK Interest.

 

Section 2.02.  Form
of Notes. The Notes and the Trustee’s certificate of authentication to be borne
by such Notes shall be substantially in the respective forms set forth in Exhibit A, the terms and provisions of which shall constitute,
and are hereby expressly incorporated in and made a part of this Indenture. To the extent applicable, the Company and the Trustee, by
their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. In the case of any
conflict between this Indenture and a Note, the provisions of this Indenture shall control and govern to the extent of such conflict.

 

In connection with the payment of PIK Interest on
each Interest Payment Date in respect of the Notes, the Company is entitled to, without the consent of the Holders and without regard
to Section 2.01 and 4.11 hereof, increase the outstanding principal amount of the Notes or issue additional Notes (“PIK Notes”)
under this Indenture on the same terms and conditions as the Notes (in each case, a “PIK Payment”).

 

Any Global Note may be endorsed with or have incorporated
in the text thereof such legends or recitals or changes not inconsistent with the provisions of this Indenture as may be required by the
Custodian or the Depositary, or as may be required to comply with any applicable law or any regulation thereunder or with the rules and
regulations of any securities exchange or automated quotation system upon which the Notes may be listed or traded or designated for issuance
or to conform with any usage with respect thereto, or to indicate any special limitations or restrictions to which any particular Notes
are subject.

 

Any of the Notes may have such letters, numbers
or other marks of identification and such notations, legends or endorsements as the Officer executing the same may approve (execution
thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Indenture, or as may be required
to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange
or automated quotation system on which the Notes may be listed or designated for issuance, or to conform to usage or to indicate any special
limitations or restrictions to which any particular Notes are subject.

 

Each Global Note shall represent such principal
amount of the outstanding Notes as shall be specified therein and shall provide that it shall represent the aggregate principal amount
of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby
may from time to time be increased or reduced to reflect redemptions, repurchases, cancellations, conversions, transfers or exchanges
permitted hereby. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the amount of outstanding Notes
represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in such manner and upon instructions
given by the Holder of such Notes in accordance with this Indenture. Payment of principal (including the Redemption Price and the Fundamental
Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, a Global Note shall be made to the Holder of such Note
on the date of payment, unless a record date or other means of determining Holders eligible to receive payment is provided for herein.

 

On each Interest Payment Date, the Company shall
pay Cash Interest and shall pay PIK Interest with respect to a Global Note, and the Trustee upon receipt of an Authentication Order shall
increase the principal amount of such Note by an amount equal to the PIK Interest payable, rounded up to the nearest $1.00 for the relevant
interest period on the principal amount of such Note as of the relevant Regular Record Date for such Interest Payment Date, to the credit
of the Holders on such Regular Record Date, pro rata in accordance with their interests, and an adjustment shall be made on the books
and records of the Trustee with respect to such Global Note, by the Trustee to reflect such increase.

 

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On each Interest Payment Date, the Company shall
pay PIK Interest by issuing certificated PIK Notes, and the principal amount of such PIK Notes issued to any Holder, for the relevant
interest period as of the relevant Regular Record Date for such Interest Payment Date, shall be rounded up to the nearest $1.00. Following
an increase in the principal amount of a Global Note as a result of a PIK Payment such Global Note will bear interest on such increased
principal amount from and after the relevant Interest Payment Date.

 

For the avoidance of doubt, the Company shall make
all payments of interest payable upon a redemption or in connection with a Fundamental Change in cash, assuming all PIK Interest is payable
in cash.

 

Section 2.03.  Date
and Denomination of Notes; Payments of Interest and Defaulted Amounts. (a) The
Notes shall be issuable in registered form without coupons in minimum denominations of $1,000 principal amount and integral multiples
thereof, subject to the issuance of PIK Notes or the increase in the principal amount of a Global Note in order to evidence PIK Payments,
which PIK Notes or increased principal amount of a Global Note will be in denominations of $1.00 and integral multiples of $1.00 in excess
thereof. Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of such Note.
Accrued interest on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months,
on the basis of the number of days actually elapsed in a 30-day month.

 

(b) The Person in whose name any Note (or its
Predecessor Note) is registered on the Note Register at the close of business on any Regular Record Date with respect to any Interest
Payment Date shall be entitled to receive the interest payable on such Interest Payment Date. The principal amount of any Note (x) in
the case of any Physical Note, shall be payable at the office or agency of the Company maintained by the Company for such purposes in
the United States of America, which shall initially be the Corporate Trust Office and (y) in the case of any Global Note, shall be payable
by wire transfer of immediately available funds to the account of the Depositary or its nominee. The Company shall pay, or cause the Paying
Agent to pay, interest (i) on any Physical Notes (A) to Holders holding Physical Notes having an aggregate principal amount of $5,000,000
or less, by check mailed to the Holders of these Notes at their addresses as they appear in the Note Register and (B) to Holders holding
Physical Notes having an aggregate principal amount of more than $5,000,000, either by check mailed to each such Holder or, upon written
application by such a Holder to the Note Registrar in a form reasonably satisfactory to the Note Registrar not later than the relevant
Regular Record Date, by wire transfer in immediately available funds to that Holder’s account within the United States if such Holder
has provided the Trustee or the Paying Agent (if other than the Trustee) with the requisite information necessary to make such wire transfer,
which written application shall remain in effect until the Holder notifies, in writing, the Note Registrar to the contrary or (ii) on
any Global Note by wire transfer of immediately available funds to the account of the Depositary or its nominee.

 

(c) Any Defaulted Amounts shall forthwith cease
to be payable to the Holder on the relevant payment date but shall accrue interest per annum at the rate borne by the Notes, subject to
the enforceability thereof under applicable law, from, and including, such relevant payment date, and such Defaulted Amounts together
with such interest thereon shall be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:

 

(i)  The
Company may elect to make payment of any Defaulted Amounts to the Persons in whose names the Notes (or their respective Predecessor
Notes) are registered at the close of business on a special record date for the payment of such Defaulted Amounts, which shall be
fixed in the following manner. The Company shall notify the Trustee in writing of the amount of the Defaulted Amounts proposed to be
paid on each Note and the date of the proposed payment (which shall be not less than 25 days after the receipt by the Trustee of
such notice, unless the Trustee shall consent to an earlier date), and at the same time the Company shall deposit with the Trustee
an amount of money equal to the aggregate amount to be paid in respect of such Defaulted Amounts or shall make arrangements
satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held
in trust for the benefit of the Persons entitled to such Defaulted Amounts as in this clause provided. Thereupon the Company shall
fix a special record date for the payment of such Defaulted Amounts which shall be not more than 15 days and not less than 10 days
prior to the date of the proposed payment, and not less than 10 days after the receipt by the Trustee of the notice of the proposed
payment (unless the Trustee shall consent to an earlier date). The Company shall promptly notify the Trustee of such special record
date at least [●] Business Days before such notice is to be sent to the Holders and the Trustee, in the name and at the expense
of the Company, shall cause notice of the proposed payment of such Defaulted Amounts and the special record date therefor to be
delivered to each Holder not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted
Amounts and the special record date therefor having been so delivered, such Defaulted Amounts shall be paid to the Persons in whose
names the Notes (or their respective Predecessor Notes) are registered at the close of business on such special record date and
shall no longer be payable pursuant to the following clause (ii) of this Section 2.03(c). The Trustee shall have no
responsibility whatsoever for the calculation of the Defaulted Amount.

 

    20

     

    

 

(ii) The Company may make payment
of any Defaulted Amounts in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation
system on which the Notes may be listed or designated for issuance, and upon such notice as may be required by such exchange or automated
quotation system, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of
payment shall be deemed practicable by the Trustee.

 

Section 2.04.      Execution,
Authentication and Delivery of Notes. The Notes shall be signed in the name and on
behalf of the Company by the manual, facsimile or electronic signature of its Chief Executive Officer, Chief Financial Officer, Treasurer,
Secretary or other Officer of the Company.

 

Subject to Section 4.11(c), at any time and from
time to time after the execution and delivery of this Indenture, the Company may deliver Notes, including any additional Notes or PIK
Notes, executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of
such Notes, and the Trustee in accordance with such Company Order shall authenticate and deliver such Notes, without any further action
by the Company hereunder; provided, however, that the Trustee shall be entitled to receive an Officer’s
Certificate and an Opinion of Counsel of the Company with respect to the issuance, authentication and delivery of such Notes; provided, further,
that notwithstanding anything to the contrary herein, no Officer’s Certificate or Opinion of Counsel shall be required to be delivered
in connection with a payment of PIK Interest on each Interest Payment Date (whether by an issuance of PIK Notes or by an increase in Global
Notes reflecting a PIK Payment).

 

Only such Notes as shall bear thereon a certificate
of authentication substantially in the form set forth on the Form of Note attached as Exhibit A hereto, executed manually by an authorized
officer of the Trustee (or an authenticating agent appointed by the Trustee as provided by Section 18.10), shall be entitled to the benefits
of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee (or such an authenticating agent) upon any
Note executed by the Company shall be conclusive evidence that the Note so authenticated has been duly authenticated and delivered hereunder
and that the Holder is entitled to the benefits of this Indenture.

 

In case any Officer of the Company who shall have
signed any of the Notes shall cease to be such Officer before the Notes so signed shall have been authenticated and delivered by the Trustee,
or disposed of by the Company, such Notes nevertheless may be authenticated and delivered or disposed of as though the person who signed
such Notes had not ceased to be such Officer of the Company; and any Note may be signed on behalf of the Company by such persons as, at
the actual date of the execution of such Note, shall be the Officers of the Company, although at the date of the execution of this Indenture
any such person was not such an Officer.

 

Section 2.05.      Exchange
and Registration of Transfer of Notes; Restrictions on Transfer; Depositary. (a)
The Company shall cause to be kept at the Corporate Trust Office a register (the register maintained in such office or in any other office
or agency of the Company designated pursuant to Section 4.02, the “Note Register”) in which, subject to such reasonable
regulations as it may prescribe, the Company shall provide for the registration of Notes and of transfers of Notes. Such register shall
be in written form or in any form capable of being converted into written form within a reasonable period of time. The Trustee is hereby
initially appointed the “Note Registrar” for the purpose of registering Notes and transfers of Notes as herein provided.
The Company may appoint one or more co-Note Registrars in accordance with Section 4.02.

 

Upon surrender for registration of transfer of any
Note to the Note Registrar or any co-Note Registrar, and satisfaction of the requirements for such transfer set forth in this Section
2.05, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated
transferee or transferees, one or more new Notes of any authorized denominations and of a like aggregate principal amount and bearing
such restrictive legends as may be required by this Indenture.

 

    21

     

    

 

Notes may be exchanged for other Notes of any authorized
denominations and of a like aggregate principal amount, upon surrender of the Notes to be exchanged at any such office or agency maintained
by the Company pursuant to Section 4.02. Whenever any Notes are so surrendered for exchange, the Company shall execute, and the Trustee
shall authenticate and deliver, the Notes that the Holder making the exchange is entitled to receive, bearing registration numbers not
contemporaneously outstanding.

 

All Notes presented or surrendered for registration
of transfer or for exchange, repurchase, redemption or conversion shall (if so required by the Company, the Trustee, the Note Registrar
or any co-Note Registrar) be duly endorsed, or be accompanied by a written instrument or instruments of transfer in form satisfactory
to the Company and duly executed, by the Holder thereof or its attorney-in-fact duly authorized in writing.

 

No service charge shall be imposed by the Company,
the Trustee, the Note Registrar, any co-Note Registrar or the Paying Agent for any exchange or registration of transfer of Notes, but
the Company may require a Holder to pay a sum sufficient to cover any documentary, stamp or similar issue or transfer tax required in
connection therewith as a result of the name of the Holder of new Notes issued upon such exchange or registration of transfer being different
from the name of the Holder of the old Notes surrendered for exchange or registration of transfer.

 

None of the Company, the Trustee, the Note Registrar
or any co-Note Registrar shall be required to exchange for other Notes or register a transfer of (i) any Notes surrendered for conversion
or, if a portion of any Note is surrendered for conversion, such portion thereof surrendered for conversion, (ii) any Notes, or a portion
of any Note, surrendered for repurchase (and not withdrawn) in accordance with Article 15 or (iii) any Notes selected for redemption in
accordance with Article 16, except the unredeemed portion thereof.

 

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

 

(b)  So long as the Notes
are eligible for book-entry settlement with the Depositary, unless otherwise required by law, subject to the fourth paragraph from the
end of Section 2.05(c) all Notes shall be represented by one or more Notes in global form (each, a “Global Note”)
registered in the name of the Depositary or the nominee of the Depositary. Each Global Note shall bear the legend required on a Global
Note set forth in Exhibit A hereto. The transfer and exchange of beneficial interests in a Global Note that does not involve the issuance
of a Physical Note shall be effected through the Depositary (but not the Trustee or the Custodian) in accordance with this Indenture (including
the restrictions on transfer set forth herein) and the procedures of the Depositary therefor.

 

(c)  Every Note that
bears or is required under this Section 2.05(c) to bear the Restrictive Notes Legend (together with any Common Stock issued upon
conversion of the Notes that is required to bear the legend set forth in Section 2.05(d), collectively, the “Restricted
Securities”) shall be subject to the restrictions on transfer set forth in this Section 2.05(c) (including the legend set
forth below) or Section 2.05(d)(including the legend set forth therein), as applicable, unless such restrictions on transfer shall be
eliminated or otherwise waived by written consent of the Company, and the Holder of each such Restricted Security, by such Holder’s
acceptance thereof, agrees to be bound by all such restrictions on transfer. As used in this Section 2.05(c) and Section 2.05(d),
the term “transfer” encompasses any sale, pledge, transfer or other disposition whatsoever of any Restricted Security.

 

    22

     

    

 

Any certificate
evidencing some or all of the Notes (and all securities issued in exchange therefor or substitution thereof, other than Common
Stock, if any, issued upon conversion thereof, which shall bear the legend set forth in Section 2.05(d), if applicable) shall
bear a legend in substantially the following form (the “Restrictive Notes Legend”) (unless such Notes have been
transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that
continues to be effective at the time of such transfer, or sold pursuant to the exemption from registration provided by Rule 144 or
any similar provision then in force under the Securities Act, or unless otherwise agreed by the Company in writing, with notice
thereof to the Trustee):

 

THIS SECURITY AND THE COMMON STOCK, IF ANY, ISSUABLE
UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF
OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER:

 

AGREES FOR THE BENEFIT OF [●] (THE “COMPANY”)
THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE
LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES
ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

 

(A)  TO THE COMPANY
OR ANY SUBSIDIARY THEREOF, OR

 

(B)  PURSUANT TO
A REGISTRATION STATEMENT THAT HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT AND IS EFFECTIVE AT THE TIME OF SUCH TRANSFER, OR

 

(C)  TO A PERSON
REASONABLY BELIEVED TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR

 

(D)  PURSUANT TO
AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT.

 

PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE
WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS
OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER FOR THE COMPANY TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE
WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES
ACT) OF THE COMPANY OR PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF THE COMPANY DURING THE PRECEDING
THREE MONTHS MAY PURCHASE, OTHERWISE ACQUIRE OR HOLD THIS SECURITY OR A BENEFICIAL INTEREST HEREIN.

 

No transfer of any Note prior to the Resale Restriction
Termination Date will be registered by the Note Registrar unless the applicable box on the Form of Assignment and Transfer has been checked.

 

Any Note (or security
issued in exchange or substitution therefor) (i) as to which such restrictions on transfer shall have expired in accordance with
their terms, (ii) that has been transferred pursuant to a registration statement that has become effective or been declared
effective under the Securities Act and that continues to be effective at the time of such transfer or (iii) that has been sold
pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities Act,
may, upon surrender of such Note for exchange to the Note Registrar in accordance with the provisions of this Section 2.05, be
exchanged for a new Note or Notes, of like tenor and aggregate principal amount, which shall not bear the Restrictive Notes Legend
required by this Section 2.05(c) and shall not be assigned a restricted CUSIP number. The Restrictive Notes Legend set forth
above and affixed on any Note will be deemed, in accordance with the terms of the certificate representing such Note, to be removed
therefrom upon the Company’ s delivery to the Trustee of written notice to such effect, without further action by the Company,
the Trustee, the Holder(s) thereof or any other Person; at such time, such Note will be deemed to be assigned an unrestricted CUSIP
number as provided in the certificate representing such Note, it being understood that the Depositary of any Global Note may require
a mandatory exchange or other process to cause such Global Note to be identified by an unrestricted CUSIP number in the facilities
of such Depositary; provided, however, that if such Note is a Global Note and the Depositary thereof requires a
mandatory exchange or other procedure to cause such Global Note to be identified by “unrestricted” CUSIP and ISIN
numbers in the facilities of such Depositary, then (i) the Company will effect such exchange or procedure as soon as reasonably
practicable; and (ii) for purposes of Section 4.06, such Global Note will not be deemed to be identified by unrestricted CUSIP
and ISIN numbers until such time as such exchange or procedure is effected. The Company and the Trustee reserve the right to require
the delivery of such legal opinions, certifications or other evidence as may reasonably be required in order to determine that any
proposed transfer of any Note is being made in compliance with the Securities Act and applicable state securities laws.

 

    23

     

    

 

The Company shall be entitled to instruct the Custodian
in writing to so surrender any Global Note as to which any of the conditions set forth in clause (i) through (iii) of the first sentence
of the immediately preceding paragraph have been satisfied, and, upon such instruction, the Custodian shall so surrender such Global Note
for exchange; and any new Global Note so exchanged therefor shall not bear the Restrictive Notes Legend specified in this Section
2.05(c) and shall not be assigned a restricted CUSIP number.

 

Notwithstanding any other provisions of this Indenture
(other than the provisions set forth in this Section 2.05(c)), a Global Note may not be transferred as a whole or in part except
(i) 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 and (ii) for exchange of
a Global Note or a portion thereof for one or more Physical Notes in accordance with the second immediately succeeding paragraph.

 

The Depositary shall be a clearing agency registered
under the Exchange Act. The Company initially appoints The Depository Trust Company to act as Depositary with respect to each Global Note.
Initially, each Global Note shall be issued to the Depositary, registered in the name of Cede & Co., as the nominee of the Depositary,
and deposited with the Trustee as custodian for Cede & Co.

 

If (i) the Depositary notifies the Company at any
time that the Depositary is unwilling or unable to continue as depositary for the Global Notes and a successor depositary is not appointed
within 90 days, (ii) the Depositary ceases to be registered as a clearing agency under the Exchange Act and a successor depositary is
not appointed within 90 days or (iii) an Event of Default with respect to the Notes has occurred and is continuing and, subject to the
Depositary’s applicable procedures, a beneficial owner of any Note requests that its beneficial interest therein be issued as a
Physical Note, the Company shall execute, and the Trustee, upon receipt of an Officer’s Certificate and a Company Order for the
authentication and delivery of Notes, shall authenticate and deliver (x) in the case of clause (iii), a Physical Note to such beneficial
owner in a principal amount equal to the principal amount of such Note corresponding to such beneficial owner’s beneficial interest
and (y) in the case of clause (i) or (ii), Physical Notes to each beneficial owner of the related Global Notes (or a portion thereof)
in an aggregate principal amount equal to the aggregate principal amount of such Global Notes in exchange for such Global Notes, and upon
delivery of the Global Notes to the Trustee such Global Notes shall be canceled.

 

Physical Notes issued in exchange for all or a part
of the Global Note pursuant to this Section 2.05(c) shall be registered in such names and in such authorized denominations as the
Depositary, pursuant to instructions from its direct or indirect participants or otherwise, or, in the case of clause (iii) of the
immediately preceding paragraph, the relevant beneficial owner, shall instruct the Trustee. Upon execution and authentication, the Trustee
shall deliver such Physical Notes to the Persons in whose names such Physical Notes are so registered.

 

At such time as all interests in a Global Note have
been converted, canceled, repurchased upon a Fundamental Change, redeemed or transferred, such Global Note shall be, upon receipt thereof,
canceled by the Trustee in accordance with standing procedures and existing instructions between the Depositary and the Custodian. At
any time prior to such cancellation, if any interest in a Global Note is exchanged for Physical Notes, converted, canceled, repurchased
upon a Fundamental Change, redeemed or transferred to a transferee who receives Physical Notes therefor or any Physical Note is exchanged
or transferred for part of such Global Note, the principal amount of such Global Note shall, in accordance with the standing procedures
and instructions existing between the Depositary and the Custodian, be appropriately reduced or increased, as the case may be, and an
endorsement shall be made on such Global Note, by the Trustee or the Custodian, at the direction of the Trustee, to reflect such reduction
or increase.

 

    24

     

    

 

None of the Company, the Trustee, the Conversion
Agent, the Paying Agent or any agent of the Company or the Trustee shall have any responsibility or liability for any act or omission
of the Depositary or for the payment of amounts to owners of beneficial interest in a Global Note, for any aspect of the records relating
to or payments made on account of those interests by the Depositary, or for maintaining, supervising or reviewing any records of the Depositary
relating to those interests.

 

(d)  Any stock certificate
representing Common Stock issued upon conversion of a Note shall bear a legend in substantially the following form (unless such Common
Stock has been transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and
that continues to be effective at the time of such transfer, or pursuant to the exemption from registration provided by Rule 144 or any
similar provision then in force under the Securities Act, or such Common Stock has been issued upon conversion of a Note that has been
transferred pursuant to a registration statement that has become or been declared effective under the Securities Act and that continues
to be effective at the time of such transfer, or pursuant to the exemption from registration provided by Rule 144 or any similar provision
then in force under the Securities Act, or unless otherwise agreed by the Company with written notice thereof to the Trustee and any transfer
agent for the Common Stock):

 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED
EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE ACQUIRER:

 

AGREES FOR THE BENEFIT OF [●] (THE “COMPANY”)
THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE
LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE OF THE NOTES UPON THE CONVERSION OF WHICH THIS SECURITY WAS ISSUED OR SUCH SHORTER
PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS
MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

 

(A)  TO THE COMPANY
OR ANY SUBSIDIARY THEREOF, OR

 

(B)  PURSUANT TO
A REGISTRATION STATEMENT THAT HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT AND IS EFFECTIVE AT THE TIME OF SUCH TRANSFER, OR

 

(C)  TO A PERSON
REASONABLY BELIEVED TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR

 

(D)  PURSUANT TO
AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

 

PRIOR TO THE REGISTRATION OF THIS SECURITY IN CONNECTION
WITH ANY TRANSFER IN ACCORDANCE WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRANSFER AGENT FOR THE COMPANY’S COMMON STOCK RESERVE
THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER FOR
THE COMPANY TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

Any such Common Stock (i) as to which such restrictions
on transfer shall have expired in accordance with their terms, (ii) that has been transferred pursuant to a registration statement that
has become or been declared effective under the Securities Act and that continues to be effective at the time of such transfer or (iii)
that has been sold pursuant to the exemption from registration provided by Rule 144 or any similar provision then in force under the Securities
Act, may, upon surrender of the certificates representing such shares of Common Stock for exchange in accordance with the procedures of the transfer agent for the Common
Stock, be exchanged for a new certificate or certificates for a like aggregate number of shares of Common Stock, which shall not bear
the restrictive legend required by this Section 2.05(d).

 

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The Company shall cause any Note that is repurchased
or owned by it to be surrendered to the Trustee for cancellation in accordance with Section 2.08.

 

The Trustee and any other agent appointed under
this Indenture 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 Note (including any transfers between
or among Depositary participants or beneficial owners of interests in any Global Note) other than to require delivery of such certificates
and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture,
and to examine the same to determine substantial compliance as to form with the express requirements hereof.

 

Neither the Trustee nor any agent shall have any
responsibility or liability for any actions taken or not taken by the Depositary, and may assume performance absent written notice to
the contrary.

 

(e)  Any Note or Common
Stock issued upon conversion of a Note that is repurchased or owned by the Company or any Affiliate of the Company (or any Person who
was an Affiliate of the Company at any time during the three months immediately preceding) may not be resold by the Company or such Affiliate
(or such Person, as the case may be) unless registered under the Securities Act or resold pursuant to an exemption from the registration
requirements of the Securities Act in a transaction that results in such Note or Common Stock, as the case may be, no longer being a “restricted
security” (as defined under Rule 144).

 

Section 2.06.      Mutilated,
Destroyed, Lost or Stolen Notes. In case any Note shall become mutilated or be destroyed,
lost or stolen, the Company in its discretion may execute, and upon receipt of a Company Order the Trustee or an authenticating agent
appointed by the Trustee shall authenticate and deliver, a new Note, bearing a registration number not contemporaneously outstanding,
in exchange and substitution for the mutilated Note, or in lieu of and in substitution for the Note so destroyed, lost or stolen. In every
case the applicant for a substituted Note shall furnish to the Company, to the Trustee and, if applicable, to such authenticating agent
such security or indemnity as may be required by them to save each of them harmless from any loss, liability, cost or expense caused by
or connected with such substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company,
to the Trustee and, if applicable, to such authenticating agent evidence to their satisfaction of the destruction, loss or theft of such
Note and of the ownership thereof.

 

The Trustee or such authenticating agent may authenticate
any such substituted Note and deliver the same upon the receipt of a Company Order and such security or indemnity as the Trustee, the
Company and, if applicable, such authenticating agent may require. No service charge shall be imposed by the Company, the Trustee, the
Note Registrar, any co-Note Registrar or the Paying Agent upon the issuance of any substitute Note, but the Company may require a Holder
to pay a sum sufficient to cover any documentary, stamp or similar issue or transfer tax required in connection therewith as a result
of the name of the Holder of the new substitute Note being different from the name of the Holder of the old Note that became mutilated
or was destroyed, lost or stolen. In case any Note that has matured or is about to mature or has been surrendered for redemption or required
repurchase or is about to be converted in accordance with Article 14 shall become mutilated or be destroyed, lost or stolen, the
Company may, in its sole discretion, instead of issuing a substitute Note, pay or authorize the payment of or convert or authorize the
conversion of the same (without surrender thereof except in the case of a mutilated Note), as the case may be, if the applicant for such
payment or conversion shall furnish to the Company, to the Trustee and, if applicable, to such authenticating agent such security or indemnity
as may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or connected with such substitution,
and, in every case of destruction, loss or theft, evidence satisfactory to the Company, the Trustee and, if applicable, any Paying Agent
or Conversion Agent evidence of their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof.

 

Every substitute Note issued
pursuant to the provisions of this Section 2.06 by virtue of the fact that any Note is destroyed, lost or stolen shall constitute
an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Note shall be found at any time, and
shall be entitled to all the benefits of (but shall be subject to all the limitations set forth in) this Indenture equally and proportionately
with any and all other Notes duly issued hereunder. To the extent permitted by law, all Notes shall be held and owned upon the express
condition that the foregoing provisions are exclusive with respect to the replacement, payment, redemption, conversion or repurchase
of mutilated, destroyed, lost or stolen Notes and shall preclude any and all other rights or remedies notwithstanding any law or statute
existing or hereafter enacted to the contrary with respect to the replacement, payment, redemption, conversion or repurchase of negotiable
instruments or other securities without their surrender.

 

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Section 2.07.      Temporary
Notes. Pending the preparation of Physical Notes, the Company may execute and the
Trustee or an authenticating agent appointed by the Trustee shall, upon written request of the Company, authenticate and deliver temporary
Notes (printed or lithographed). Temporary Notes shall be issuable in any authorized denomination, and substantially in the form of the
Physical Notes but with such omissions, insertions and variations as may be appropriate for temporary Notes, all as may be determined
by the Company. Every such temporary Note shall be executed by the Company and authenticated by the Trustee or such authenticating agent
upon the same conditions and in substantially the same manner, and with the same effect, as the Physical Notes. Without unreasonable delay,
the Company shall execute and deliver to the Trustee or such authenticating agent Physical Notes (other than any Global Note) and thereupon
any or all temporary Notes (other than any Global Note) may be surrendered in exchange therefor, at each office or agency maintained by
the Company pursuant to Section 4.02 and the Trustee or such authenticating agent upon receipt of a Company Order shall authenticate
and deliver in exchange for such temporary Notes an equal aggregate principal amount of Physical Notes. Such exchange shall be made by
the Company at its own expense and without any charge therefor. Until so exchanged, the temporary Notes shall in all respects be entitled
to the same benefits and subject to the same limitations under this Indenture as Physical Notes authenticated and delivered hereunder.

 

Section 2.08.      Cancellation
of Notes Paid, Converted, Etc. The Company shall cause all Notes surrendered for
the purpose of payment, repurchase (including upon a Fundamental Change but not including Notes repurchased pursuant to cash-settled swaps
and other derivatives), redemption, registration of transfer or exchange or conversion (other than any Notes exchanged pursuant to Section
14.12), if surrendered to the Company or any of its agents, Subsidiaries or Affiliates, as applicable, to be surrendered to the Trustee
for cancellation. All Notes delivered to the Trustee shall be canceled promptly by it in accordance with its customary procedures. Except
for any Notes surrendered for registration of transfer or exchange, or as otherwise expressly permitted by any of the provisions of this
Indenture, no Notes shall be authenticated in exchange for any Notes surrendered to the Trustee for cancellation. The Trustee shall dispose
of canceled Notes in accordance with its customary procedures and, after such disposition, shall deliver a certificate of such disposition
to the Company, at the Company’s written request in a Company Order.

 

Section 2.09.      CUSIP
Numbers. The Company in issuing the Notes may use “CUSIP” numbers (if
then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in all notices issued to Holders as a convenience
to such Holders; provided that the Trustee shall have no liability for any defect in the “CUSIP” numbers
as they appear on any Note, notice or elsewhere, and, provided, further, that any such notice may state that no representation
is made as to the correctness of such numbers either as printed on the Notes or on such notice and that reliance may be placed only on
the other identification numbers printed on the Notes. The Company shall promptly notify the Trustee in writing of any change in the “CUSIP”
numbers.

 

Section
2.10. Additional Notes; Repurchases. The Company may,
notwithstanding Section 2.01, reopen this Indenture and issue additional Notes hereunder with the same terms as the Notes
initially issued hereunder (other than differences in the issue date, the issue price, interest accrued prior to the issue date of
such additional Notes and, if applicable, restrictions on transfer in respect of such additional Notes) in an aggregate principal
amount not to exceed $25.0 million; provided it has given written notice to and obtained written consent from the
Holders of a majority in aggregate principal amount of the Notes then outstanding prior to such date of issuance of additional
Notes; and provided, further, that if any such additional Notes are not fungible with the Notes initially issued
hereunder for U.S. federal income tax or securities law purposes, such additional Notes shall not have the same CUSIP numbers as the
Notes initially issued hereunder. Prior to the issuance of any such additional Notes, the Company shall deliver to the Trustee
(copied to the Paying Agent and Note Registrar) a Company Order, an Officer’s Certificate and an Opinion of Counsel, such
Officer’s Certificate and Opinion of Counsel to cover such matters, in addition to those required by Section 18.05, as the
Trustee shall reasonably request. In addition, the Company may, to the extent permitted by law, and directly or indirectly
(regardless of whether such Notes are surrendered to the Company), repurchase Notes in the open market or otherwise, whether by the
Company or its Subsidiaries or through a privately negotiated transaction or public tender or exchange offer or through
counterparties to private agreements, including by cash-settled swaps or other derivatives, in each case, without the consent of or
notice to the Holders of the Notes. The Company shall cause any Notes so repurchased (other than Notes repurchased pursuant to
cash-settled swaps or other derivatives) to be surrendered to the Trustee for cancellation in accordance with Section 2.08 and
such Notes shall no longer be considered outstanding under this Indenture upon their repurchase.

 

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ARTICLE
3

Satisfaction and Discharge

 

Section 3.01.      Satisfaction
and Discharge. This Indenture and the Notes shall upon request of the Company contained
in an Officer’s Certificate cease to be of further effect, and the Trustee, at the expense of the Company, shall execute such instruments
reasonably requested by the Company acknowledging satisfaction and discharge of this Indenture and the Notes, when (a) (i) all Notes theretofore
authenticated and delivered (other than Notes which have been destroyed, lost or stolen and which have been replaced, paid or converted
as provided in Section 2.06) have been delivered to the Trustee for cancellation; or (ii) the Company has deposited with the Trustee
or delivered to Holders, as applicable, after the Notes have become due and payable, whether on the Maturity Date, any Redemption Date,
any Fundamental Change Repurchase Date, upon conversion or otherwise, cash and/or shares of Common Stock (or other Reference Property)
or a combination thereof, as applicable, solely to satisfy the Company’s Conversion Obligation, sufficient to pay all of the outstanding
Notes and all other sums due and payable under this Indenture by the Company; and (b) the Company has delivered to the Trustee an Officer’s
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 7.06 shall survive.

 

ARTICLE
4

Particular Covenants of the Company

 

Section 4.01.      Payment
of Principal and Interest. The Company covenants and agrees that it will cause to
be paid the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and
unpaid interest on, each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes.

 

On the Maturity Date, the Company shall
repay the principal of each of the Notes (the “Maturity Obligation”) by Cash Settlement.

 

Interest on the Notes shall be paid in Cash Interest
and PIK Interest; provided, however, that the Company shall make all payments of interest payable upon a redemption
or in connection with a Fundamental Change in cash, assuming all PIK Interest is payable in cash.

 

Interest on the Notes shall be paid at an interest
rate of 20.0% per annum, with the Cash Interest portion accruing interest a rate of 15.0% per annum and the PIK Interest portion accruing
interest and compounding on each Interest Payment Date at a rate of 5.0% per annum.

 

Cash Interest shall be considered paid on the date
due if the Paying Agent, if other than the Company or a Subsidiary, holds as of 10:00 a.m. (New York City time) on the due date money
deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and Cash
Interest then due.

 

PIK Interest shall be considered paid on the date
due if on such date the Trustee has received (i) an Authentication Order to increase the balance of any Global Note to reflect such PIK
Interest or (ii) PIK Notes duly executed by the Company together with Authentication Order requesting the authentication of such PIK Notes
by the Trustee.

 

Section
4.02. Maintenance of Office or Agency. The Company will maintain in the
United States of America, an office or agency where the Notes may be surrendered for registration of transfer or exchange or for
presentation for payment or repurchase or redemption (“Paying Agent”) or for conversion (“Conversion
Agent”) and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The
Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If
at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the
address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office or the
office or agency of the Trustee located in the United States.

 

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The Company may also from time to time designate
as co-Note Registrars one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes
and may from time to time rescind such designations; provided that no such designation or rescission shall in any manner
relieve the Company of its obligation to maintain an office or agency in the United States of America, for such purposes. The Company
will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other
office or agency. The terms “Paying Agent” and “Conversion Agent” include any such additional or
other offices or agencies, as applicable.

 

The Company hereby initially designates the Trustee
as the Paying Agent, Note Registrar, Custodian and Conversion Agent and the Corporate Trust Office as the office or agency in the contiguous
United States, where Notes may be surrendered for registration of transfer or exchange or for presentation for payment or repurchase or
redemption or for conversion and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served;
provided that the Corporate Trust Office shall not be a place for service of legal process for the Company.

 

Section 4.03.      Appointments
to Fill Vacancies in Trustee’s Office. The Company, whenever necessary to avoid
or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.09, a Trustee, so that there shall
at all times be a Trustee hereunder.

 

Section 4.04.      Provisions
as to Paying Agent. (a) If the Company shall appoint a Paying Agent other
than the Trustee, the Company will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall
agree with the Trustee, subject to the provisions of this Section 4.04:

 

(i)     that
it will hold all sums and PIK Notes held by it as such agent for the payment of the principal (including the Redemption Price and the
Fundamental Change Repurchase Price, if applicable) of, or accrued and unpaid interest on, the Notes in trust for the benefit of the Holders
of the Notes;

 

(ii)    that
it will give the Trustee prompt notice of any failure by the Company to make any payment of the principal (including the Redemption Price
and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, the Notes when the same shall be due
and payable; and

 

(iii)    that
at any time during the continuance of an Event of Default, upon request of the Trustee, it will forthwith pay to the Trustee all sums
or PIK Notes so held in trust.

 

The Company shall, on or before each due date of
the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, or accrued and unpaid interest
on, the Notes, deposit with the Paying Agent a sum sufficient to pay such principal (including the Redemption Price and the Fundamental
Change Repurchase Price, if applicable) or accrued and unpaid interest, and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of any failure to take such action; provided that if such deposit is made on the due date,
such deposit must be received by the Paying Agent by 10:00 a.m., New York City time, on such date.

 

(b)  If the Company acts as
its own Paying Agent, it shall, on or before each due date of the principal (including the Redemption Price and the Fundamental Change
Repurchase Price, if applicable) of, and accrued and unpaid interest on, the Notes, set aside, segregate and hold in trust for the benefit
of the Holders of the Notes a sum sufficient to pay such principal (including the Redemption Price and the Fundamental Change Repurchase
Price, if applicable) and accrued and unpaid interest so becoming due and will promptly notify the Trustee in writing of any failure to
take such action and of any failure by the Company to make any payment of the principal (including the Redemption Price and the Fundamental
Change Repurchase Price, if applicable) of, or accrued and unpaid interest on, the Notes when the same shall become due and payable. On
the occurrence of any Event of Default under Section 6.01(h) or Section 6.01(i), the Trustee shall automatically become the Paying Agent.

 

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(c)  Anything in this Section
4.04 to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining a satisfaction and discharge of this
Indenture, or for any other reason, pay, cause to be paid or deliver to the Trustee all sums or amounts held in trust by the Company or
any Paying Agent hereunder as required by this Section 4.04, such sums or amounts to be held by the Trustee upon the trusts herein
contained and upon such payment or delivery by the Company or any Paying Agent to the Trustee, the Company or such Paying Agent shall
be released from all further liability but only with respect to such sums or amounts.

 

(d)  Subject to applicable
escheatment laws, any money and shares of Common Stock deposited with the Trustee, the Conversion Agent or any Paying Agent or then held
by the Company, in trust for the payment of the principal (including the Redemption Price and the Fundamental Change Repurchase Price,
if applicable) of, accrued and unpaid interest on and the consideration due upon conversion of any Note and remaining unclaimed for two
years after such principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable), interest or consideration
due upon conversion has become due and payable shall be paid to the Company on request of the Company contained in an Officer’s
Certificate, or (if then held by the Company) shall be discharged from such trust and the Trustee shall have no further liability with
respect to such fund or property; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Company
for payment thereof, and all liability of the Trustee, the Conversion Agent or such Paying Agent with respect to such trust money and
shares of Common Stock, and all liability of the Company as trustee thereof, shall thereupon cease.

 

Section 4.05.      Existence. Subject
to Article 11, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate
existence.

 

Section 4.06.      Rule
144A Information Requirement and Annual Reports. (a) At any time the Company is not
subject to Section 13 or 15(d) of the Exchange Act, the Company shall, so long as any of the Notes or any shares of Common Stock issuable
upon conversion thereof shall, at such time, constitute “restricted securities” within the meaning of Rule 144(a)(3) under
the Securities Act, promptly provide to the Trustee and, upon written request, any Holder, beneficial owner or prospective purchaser of
such Notes or any shares of Common Stock issuable upon conversion of such Notes, the information required to be delivered pursuant to
Rule 144A(d)(4) under the Securities Act to facilitate the resale of such Notes or shares of Common Stock pursuant to Rule 144A.

 

(b)  The Company shall file
with the Trustee, within 15 days after the same are required to be filed with the Commission, copies of any annual or quarterly reports
(on Form 10-K or Form 10-Q or any respective successor form) that the Company is required to file with the Commission pursuant to Section
13 or 15(d) of the Exchange Act (excluding any such information, documents or reports, or portions thereof, subject to, or with respect
to which the Company is actively seeking, confidential treatment and any correspondence with the Commission, and giving effect to any
grace period provided by Rule 12b-25 under the Exchange Act (or any successor thereto)). Any such document or report that the Company
files with the Commission via the Commission’s EDGAR system (or any successor system) shall be deemed to be filed with the Trustee
for purposes of this Section 4.06(b) at the time such documents are filed via the EDGAR system (or such successor). The Trustee shall
have no responsibility to determine whether such posting has occurred.

 

(c)  Delivery of the
reports, information and documents described in subsection (b) above to the Trustee is for informational purposes only, and the information
and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable
from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee
is entitled to conclusively rely on an Officer’s Certificate).

 

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(d) If, at any time
following the one year anniversary of the Last Original Issue Date, the Company fails to timely file any document or report that it
is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to
all applicable grace periods thereunder and other than reports on Form 8-K), or the Notes are not otherwise freely tradable pursuant
to Rule 144 by Holders other than the Company’s Affiliates or Holders that were the Company’s Affiliates at any time
during the three months immediately preceding (as a result of restrictions pursuant to U.S. securities laws or the terms of this
Indenture or the Notes) or the Notes fail to be subject to a registration statement that has become effective or been declared
effective under the Securities Act and that continues to be effective in accordance with the terms of the Registration Rights
Agreement, the Company shall pay Additional Interest on the Notes. Such Additional Interest shall accrue on the Notes at the rate of
(i) 0.25% per annum of the principal amount of the Notes outstanding for each of the first 90 days and (ii) 0.50% per annum of the
principal amount of the Notes outstanding for each day from, and including, the 91st day during such period for
which the Company’s failure to file has occurred and is continuing or the Notes are not otherwise freely tradable pursuant to
Rule 144 by Holders other than the Company’s Affiliates (or Holders that were the Company’s Affiliates at any time
during the three months immediately preceding) without restrictions pursuant to U.S. securities laws or the terms of this Indenture
or the Notes. As used in this Section 4.06(d), documents or reports that the Company is required to “file” with the
Commission pursuant to Section 13 or 15(d) of the Exchange Act does not include documents or reports that the Company furnishes to
the Commission pursuant to Section 13 or 15(d) of the Exchange Act. For purposes of this Section 4.06(d), the phrase
“restrictions pursuant to U.S. securities laws or the terms of this Indenture or the Notes” shall not include, for the
avoidance of doubt, the assignment of a restricted CUSIP number, the existence of the Restrictive Notes Legend on Notes in
compliance with Section 2.05(c).

 

(e)  Additional Interest
will be payable in cash in arrears on each Interest Payment Date following accrual in the same manner as regular interest on the Notes.

 

(f)  Subject to the
immediately succeeding sentence, the Additional Interest that is payable in accordance with Section 4.06(d) shall be in addition
to, and not in lieu of, any Additional Interest that may be payable as a result of the Company’s election pursuant to Section
6.03. However, in no event shall Additional Interest payable for the Company’s failure to comply with its obligations to timely
file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act,
as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), as set forth in Section
4.06(d), together with any Additional Interest that may accrue at the Company’s election as a result of the Company’s failure
to comply with its reporting obligations pursuant to Section 6.03, accrue at a rate in excess of 0.50% per annum pursuant to this
Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

 

(g)  If Additional Interest
is payable by the Company pursuant to Section 4.06(d), the Company shall deliver to the Trustee (copied to the Paying Agent) an Officer’s
Certificate to that effect stating (i) the amount of such Additional Interest that is payable and (ii) the date on which such Additional
Interest is payable. Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate,
the Trustee may assume without inquiry that no such Additional Interest is payable and the Trustee shall not have any duty to verify the
Company’s calculation of Additional Interest. If the Company has paid Additional Interest directly to the Persons entitled to it,
the Company shall deliver to the Trustee an Officer’s Certificate setting forth the particulars of such payment.

 

Section 4.07.      Stay,
Extension and Usury Laws. The Company covenants (to the extent that it may lawfully
do so) that it shall 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 or other law that would prohibit or forgive the Company from paying all or any portion of the principal of or interest
on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the
performance of this Indenture; 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 had been enacted.

 

Section 4.08.      Compliance
Certificate; Statements as to Defaults. The Company shall deliver to the Trustee
within 120 days after the end of each fiscal year of the Company (beginning with the fiscal year ending on [June 30, 2022]7)
an Officer’s Certificate stating whether the signers thereof have knowledge of any Default or Event of Default that occurred during
the previous year and, if so, specifying each such Default or Event of Default and the nature thereof.

 

 

	7	NTD: Insert end of first fiscal year after issuance

 

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In addition, the Company shall deliver to the Trustee,
within 30 days after the occurrence of any Event of Default or Default, an Officer’s Certificate setting forth the details of such
Event of Default or Default, its status and the action that the Company is taking or proposing to take in respect thereof; provided that
the Company shall not be required to deliver such Officer’s Certificate if such Default or Event of Default has been cured within
the applicable grace period (if any) provided for in this Indenture.

 

Section 4.09.      Further
Instruments and Acts. Upon request of the Trustee, the Company will execute and deliver
such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purposes
of this Indenture.

 

Section 4.10.      Limitations
on Certain Restricted Payments.

 

(a)  The Company shall
not, and shall not permit any of its Subsidiaries to, directly or indirectly:

 

(i)     declare
or pay any dividend on, or make any other payment or distribution in respect of, its Equity Interests or similar payment to the direct
or indirect holders thereof in their capacity as such (other than any dividends or distributions payable solely in its Equity Interests
and dividends or distributions payable to the Company or any of its Subsidiaries (and, if such Subsidiary has stockholders other than
the Company or other Subsidiaries, to its other stockholders on no more than a pro rata basis));

 

(ii)    purchase,
redeem or otherwise acquire or retire for value any Equity Interests of the Company held by any Person or any Equity Interests of any
Subsidiary of the Company held by any Affiliate of the Company (in each case other than held by the Company or a Subsidiary of the Company);

 

(iii)    make
any purchase, repurchase, redemption, defeasance or other acquisition or retirement for value, prior to the scheduled maturity, scheduled
repayment or scheduled sinking fund payment of any Indebtedness that is contractually subordinated in right of payment to the Notes; or

 

(iv)    make
any Restricted Investment

 

(all such payments and other actions set forth in clauses (i) through
(iv) above being collectively referred to as “Restricted Payments”).

 

(b)       The
foregoing provisions will not prohibit:

 

(1)       the
redemption, repurchase, retirement or other acquisition for value of any Equity Interests of the Company or any Subsidiary of the Company
held by employees, former employees, directors, former directors, consultants or former consultants of the Company (or any of its Subsidiaries)
(including any redemption, repurchase, retirement or other acquisition by reason of the Company or any of its Subsidiaries retaining any
capital stock or other option, warrant or other right in respect of tax withholding obligations, and any related payment in respect of
any such obligation); provided that the aggregate amount of such repurchases and other acquisitions shall not exceed
$3.0 million in any fiscal year (with unused amounts in any fiscal year being carried over to succeeding fiscal years subject to a maximum
of $6.0 million in any calendar year);

 

(2)       repurchases
of Capital Stock of the Company deemed to occur upon exercise of stock options, warrants or similar instruments if such Capital Stock
represents a portion of the exercise price of such options, warrants or similar instruments;

 

(3)       cash
payments in lieu of the issuance of fractional shares in connection with the exercise of warrants, options or other securities convertible
into or exchangeable for Capital Stock of the Company;

 

(4)       any
Restricted Payment made in exchange (including any such exchange pursuant to the exercise of a conversion right or privilege in connection
with which cash is paid in lieu of the issuance of fractional shares) for, or with the net cash proceeds from, the substantially concurrent
sale of Equity Interests of the Company (other than (i) Disqualified Capital Stock and (ii) Capital Stock issued or sold to a Subsidiary
or any employee, director, consultant pursuant to an employee stock ownership plan); and

 

(5)       distributions,
dividends or other payments by the Company or any Subsidiary of the Company solely to pay income tax obligations then due.

 

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Section 4.11.      Limitation
on Incurrence of Additional Indebtedness.

 

(a)  The Company shall
not, and shall not permit any of its Subsidiaries to, directly or indirectly, create, incur, assume, guarantee, acquire, become liable,
contingently or otherwise, with respect to or otherwise become responsible for payment of (collectively, “incur”) any
Indebtedness (including Acquired Indebtedness).

 

(b)  Notwithstanding clause
(a) of this Section 4.11, the Company and its Subsidiaries may incur, without duplication, any of the following items of Indebtedness
(“Permitted Indebtedness”):

 

(1)  (X) the Horizon
Revolving Credit Facility and (Y) provided that the Horizon Revolving Credit Facility has been permanently repaid, Indebtedness incurred
under any Credit Facility by the Company or any of its Subsidiaries (including letters of credit or bankers’ acceptances issued
or created under any Credit Facility) not to exceed $15.0 million at any one time outstanding and any Refinancing Indebtedness in respect
thereof;

 

(2)  Indebtedness represented
by the Notes and the Guarantees (including PIK Notes issued in connection with the payment of PIK Interest, but not including any additional
Notes other than up to $25.0 million of additional Notes (including PIK Notes in connection therewith) in accordance with Section 2.10);

 

(3)  Indebtedness of
the Company and its Subsidiaries in existence on the Issue Date (other than the Notes, the Guarantees and any Credit Facility);

 

(4)  Indebtedness arising
from the honoring by a bank or other financial institution of a check, draft or similar instrument (except in the case of daylight overdrafts)
drawn against insufficient funds in the ordinary course of business; provided, however, that such Indebtedness
is extinguished within ten Business Days of incurrence;

 

(5)  Indebtedness in
respect of (i) workers’ compensation claims, self-insurance obligations, customer guarantees, performance, indemnity, surety, judgment,
appeal, advance payment (including progress premiums), customs, value added or other tax or other guarantees or other similar bonds, instruments
or obligations and completion guarantees and warranties provided by the Company or a Subsidiary or relating to liabilities, obligations
or guarantees incurred in the ordinary course of business, (ii) customer deposits and advance payments (including progress premiums) or
similar arrangements received in the ordinary course of business from customers, suppliers or vendors for goods or services purchased
in the ordinary course of business, or (iii) any customary treasury, depositary, cash management, automatic clearinghouse arrangements,
overdraft protections, credit or debit card, purchase card, electronic funds transfer, cash pooling or netting or setting off arrangements
or similar arrangements in the ordinary course of business;

 

(6)  Indebtedness (including
Capitalized Lease Obligations) of the Company or any of its Subsidiaries incurred to finance the purchase, lease, construction or improvement
of any property, plant or equipment used or to be used in the business of the Company or such Subsidiary through the direct purchase of
such property, plant or equipment, and any Refinancing Indebtedness which serves to refund or refinance any Indebtedness incurred pursuant
to this clause in an aggregate outstanding principal amount which, when taken together with the principal amount of all other Indebtedness
incurred pursuant to this clause and then outstanding, will not exceed $10.0 million at any one time outstanding;

 

(7)  subject to Section
4.19, Indebtedness of (x) the Company or any of its Subsidiaries incurred or issued to finance an acquisition or (y) Persons that are
acquired by the Company or any of its Subsidiaries or merged into, amalgamated or consolidated with the Company or any of its Subsidiaries
in accordance with the terms of this Indenture; provided that such Indebtedness is in an aggregate amount not to exceed
$10.0 million at any one time outstanding;

 

(8)  guarantees by the
Company or any of its Subsidiaries of Indebtedness of the Company or any of its Subsidiaries so long as the incurrence of such Indebtedness
is permitted by the terms of this Indenture; provided that any Subsidiary which guarantees Indebtedness of the Company
(other than the Notes) or of any other Subsidiary will concurrently provide a guarantee of the Notes;

 

(9)  Indebtedness of
the Company owing to and held by any Subsidiary of the Company or Indebtedness of a Subsidiary of the Company owing to and held by the
Company or any other Subsidiary of the Company; provided, however, that any subsequent issuance or transfer of
Capital Stock or any other event which results in any such Indebtedness being beneficially held by a Person other than the Company
or a Subsidiary of the Company; and any sale or other transfer of any such Indebtedness to a Person other than the Company or a Subsidiary
of the Company shall be deemed, in each case under this clause (9) of this Section 4.11(b), to constitute an incurrence of such Indebtedness
on the date of any such issuance, sale or transfer by the Company or such Subsidiary, as the case may be;

 

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(10) the incurrence by the Company
or any of its Subsidiaries of Indebtedness that serves to refund, refinance, replace, renew, extend or defease (collectively, “refinance”
with “refinances,” “refinanced” and “refinancing” having a correlative meaning) any Indebtedness of
the Company or any of its Subsidiaries incurred pursuant to Section 4.11(b)(2), (3) or (7) (“Refinancing Indebtedness”)
on or prior to its respective maturity; provided, however, any Refinancing Indebtedness: (A) (i) if the Stated
Maturity of the Indebtedness being refinanced is earlier than the Stated Maturity of the Notes, has a Stated Maturity no earlier than
the Stated Maturity of the Indebtedness being refinanced or (ii) if the Stated Maturity of the Indebtedness being refinanced is later
than the Stated Maturity of the Notes, has a Stated Maturity at least 91 days later than the Stated Maturity of the Notes; (B) has a Weighted
Average Life to Maturity at the time such Refinancing Indebtedness is incurred which is not less than the remaining Weighted Average Life
to Maturity of the Indebtedness being refinanced (or requires no or nominal payments in cash (other than interest payments) prior to the
date that is 91 days after the maturity date of the Notes); (C) to the extent such Refinancing Indebtedness refinances Indebtedness subordinated
in right of payment to the Notes or any Guarantee thereof, such Refinancing Indebtedness is subordinated in right of payment to the Notes
or such Guarantee at least to the same extent as the Indebtedness being refinanced; and (D) is Incurred in an aggregate principal amount
(or if issued with original issue discount, an aggregate issue price) that is equal to or less than the sum of the aggregate principal
amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced
(plus, without duplication, any additional Indebtedness Incurred to pay premiums required by the instruments governing such existing Indebtedness
or reasonable tender premiums, as determined in good faith by the Board of Directors of the Company, defeasance costs, accrued interest
and fees and expenses in connection with any such refinancing);

 

(11) Indebtedness of the Company
or any of its Subsidiaries not to exceed $10.0 million at any one time outstanding and any Refinancing Indebtedness in respect thereof; provided in
each case that (x) the Market Capitalization of the Company exceeds $1.1 billion for at least 20 Trading Days (whether or not consecutive)
during a period of 30 consecutive Trading Days immediately prior to incurrence and (y) the 30-Day ADTV ending on the Business Day immediately
prior to incurrence is greater than or equal to $2 million;

 

(12) Indebtedness arising from
agreements of the Issuer or a Subsidiary providing for indemnification, adjustment of purchase price or similar obligations, in each case,
incurred or assumed in connection with the disposition of any business, assets or a Subsidiary, other than guarantees of Indebtedness
incurred by any Person acquiring all or any portion of such business, assets or a Subsidiary for the purpose of financing such acquisition;
and

 

(13) Hedging Obligations (excluding
Hedging Obligations entered into for speculative purposes) for the purpose of limiting interest rate risk with respect to any Indebtedness
permitted to be incurred pursuant to this covenant, exchange rate risk or commodity pricing risk.

 

(c)   Notwithstanding
clause (b) of this Section 4.11, the Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly incur
any Indebtedness consisting of securities convertible into or exchangeable for Capital Stock of the Company or any of its Subsidiaries
(other than additional Notes of up to $25.0 million and PIK Notes).

 

Section 4.12.      Transactions
with Affiliates. The Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, make any payment
to, or sell, lease, exchange, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets
from, or enter into or make or amend any contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any
affiliate (each of the foregoing, an “Affiliate Transaction”) unless such Affiliate Transaction is on terms that are
no less favorable to the Company or the relevant Subsidiary than those that would have been obtained in a comparable transaction at the
time in an arm’s-length transaction with a person who was not an affiliate.

 

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The foregoing provisions will not apply to the following:

 

(a)   any employment
agreement and other employment benefits (including retirement, health, stock option and other benefit plans) entered into by the Company
or any of its Subsidiaries in the ordinary course of business of the Company or such Subsidiary;

 

(b)   transactions
exclusively between or among the Company and/or its Subsidiaries;

 

(c)   any agreement
existing on the Issue Date, as in effect on the Issue Date, or as modified, amended or amended and restated by any modification, amendment
or amendment and restatement (x) that, taken as a whole, is not more disadvantageous to the Holders in any material respect than such
agreement as it was in effect on the Issue Date or (y) made in compliance with the applicable provisions of this covenant;

 

(d)   reasonable
compensation of, and indemnity arrangements in favor of, directors of the Company and its Subsidiaries entered into in the ordinary course
of business;

 

(e)   the issuance
or sale of any equity interests of the Company and any contribution to the common equity of the Company; and

 

(f)   transactions
in which the Company or any Subsidiary of the Company delivers to the Trustee a letter from an Independent Financial Advisor stating that
such transaction is fair to the Company or such Subsidiary from a financial point of view or stating that the terms are not materially
less favorable than those that could have been obtained by the Company or such Subsidiary in a comparable transaction at such time on
an arms’ length basis from a Person that is not an Affiliate.

 

Section 4.13.      Limitation
on Liens. The Company shall not, and shall not permit any of its Subsidiaries, directly or indirectly, to, enter into, create, incur,
assume or suffer to exist any Liens of any kind securing Indebtedness, other than Permitted Liens, on or with respect to any property
or assets of the Company or any Subsidiary now owned or hereafter acquired or any interest therein or any income or profits therefrom,
unless the Notes, the Guarantees and related Obligations are secured on an equal (or senior) and ratable basis with such Indebtedness
(and related Obligations).

 

Section 4.14.      Subsidiary
Guarantees. The Company shall not create any Domestic Subsidiary or permit any of
its Domestic Subsidiaries, directly or indirectly, by way of pledge, intercompany note or otherwise, to assume, guarantee or in any other
manner become liable with respect to any Indebtedness (other than the Notes) of the Company or any Guarantor, unless, in any such case,
such Domestic Subsidiary executes and delivers a supplemental indenture to this Indenture providing a Guarantee as provided in Article
17 by such Domestic Subsidiary; provided that no Domestic Subsidiary shall be required to guarantee the Notes if it is
prohibited by law from Guaranteeing the Notes.

 

Section 4.15.      Registration
Rights. The Company agrees that the Holders from time to time of Registrable Securities are entitled to the benefits of the Registration
Rights Agreement. By its acceptance thereof, the Holder of Registrable Securities will have agreed to be bound by the terms of the Registration
Rights Agreement relating to such Registrable Securities.

 

Section 4.16.      Payment
of Taxes. The Company shall pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (i) all material
taxes, assessments and governmental charges (including withholding taxes and any penalties, interest and additions to taxes) levied or
imposed upon it or properties of it and (ii) all lawful claims for labor, materials and supplies that, if unpaid, might by law become
a lien upon the property, except for such non-compliances as could not singly or in the aggregate reasonably be expected to have a material
adverse effect on the financial condition or results of operations of the Company and its Subsidiaries, taken as a whole.

 

Section 4.17. Compliance
with Laws. The Company shall comply with all applicable statutes, rules, regulations and orders of the United States of America,
all states and municipalities thereof, and of any governmental department, commission, board, regulatory authority, bureau, agency
and instrumentality of the foregoing, in respect of the conduct of its respective businesses and the ownership of its respective
properties, except for such non-compliances as could not singly or in the aggregate reasonably be expected to have a material
adverse effect on the financial condition or results of operations of the Company and its Subsidiaries, taken as a whole.

 

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Section 4.18.      Limitation
on Sales of Assets.

 

(a)    The
Company shall not, and shall not permit any Subsidiary to, make any Asset Sale unless:

 

(i)     the
Company or the applicable Subsidiary, as the case may be, receives consideration at the time of the Asset Sale at least equal to the Fair
Market Value of the assets or Equity Interests issued or sold or otherwise disposed of;

 

(ii)    at
least 75% of the consideration received in the Asset Sale by the Company or such Subsidiary is in the form of cash or Cash Equivalents.

 

For purposes of this provision, each of the following
will be deemed to be cash:

 

(A)    any
liabilities, as shown on the Company most recent consolidated balance sheet, of the Company or any Subsidiary (other than contingent liabilities
and liabilities that are by their terms subordinated to the Notes or any Guarantee) that are assumed by the transferee of any such assets
pursuant to a customary novation agreement that releases the Company or such Subsidiary from further liability; and

 

(B)    any
securities, notes or other obligations received by the Company or any such Subsidiary from such transferee that are converted by the Company
or such Subsidiary into cash within 90 days following the date of such Asset Sale, to the extent of the cash received in that conversion.

 

(b)    Within
365 days after the receipt of any Net Proceeds from an Asset Sale, the Company (or the applicable Subsidiary, as the case may be) may
apply such Net Proceeds:

 

(i)     to
repay any indebtedness secured by a Lien and, in the case of a revolving credit facility, correspondingly permanently reduce commitments
with respect thereto;

 

(ii)    subject
to Section 4.19, to acquire all or substantially all of the assets of, or any Capital Stock of, another Permitted Business, if, after
giving effect to any such acquisition of Capital Stock, the Permitted Business is or becomes a Guarantor;

 

(iii)    subject
to Section 4.19, to make a capital expenditure; or

 

(iv)    subject
to Section 4.19, to acquire other assets that are not classified as current assets under GAAP and that are used or useful in a Permitted
Business.

 

(c) Pending the final
application of any Net Proceeds, the Company may temporarily reduce indebtedness consisting of revolving credit borrowings or
otherwise use the Net Proceeds in any manner that is not prohibited by this Indenture. For the avoidance of doubt, any obligation
under a revolving credit facility to apply Net Proceeds from Asset Sales to permanently reduce such revolving credit facility will
not be deemed to be a permanent reduction under this Indenture unless the Company so elects in accordance with clause (1) of Section
4.18(b).

 

(d) Any Net Proceeds from
Asset Sales that are not applied or invested as provided in Section 4.18(b) will constitute “Excess Proceeds.” When the
aggregate amount of Excess Proceeds exceeds $5.0 million, the Company will, within 30 days thereof, make an offer (“Net
Proceeds Offer”) to (a) (i) all holders of the Notes and (ii) all holders of pari passu indebtedness that contains
provisions similar to those set forth in this Indenture with respect to offers to purchase or redeem with the proceeds of sales of
assets to purchase the maximum principal amount of Notes and such other pari passu indebtedness that may be purchased out of the
Excess Proceeds. The offer price in any offer will be equal to 100% of the principal amount of Notes purchased (or, in the event
such pari passu indebtedness was issued with significant original issue discount, 100% of the accreted value thereof) plus accrued
and unpaid interest, if any, to the date of purchase, and will be payable in cash. If any Excess Proceeds remain after consummation
of a Net Proceeds Offer, the Company may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If
the aggregate principal amount of Notes and such other pari passu indebtedness tendered in such offer exceeds the amount of Excess
Proceeds, the Trustee shall select the Notes and the Company or such other agent will select such other pari passu indebtedness to
be purchased on a pro rata basis. Upon completion of each offer, the amount of Excess Proceeds will be reset at zero.

 

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(e)    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 such laws and regulations are applicable in connection with the repurchase of Notes pursuant to a Net Proceeds Offer. To
the extent that the provisions of any securities laws or regulations conflict with this Section 4.18(e), the Company shall comply with
the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 4.18(e) by
virtue thereof.

 

Section 4.19.      Minimum
Liquidity; Maximum Acquisition Spend.

 

(a)    The
Company and its Subsidiaries shall (x) at all times maintain a minimum consolidated balance of $30.0 million of unrestricted cash and
cash equivalents and (y) deliver to Trustee, with a copy to the Holders, within three (3) Business Days following the end of each month
after the Issue Date and prior to a Cash Covenant Suspension Event, an Officer’s Certificate with a schedule showing all such accounts
in which such unrestricted cash and cash equivalents is on deposit or credited thereto and providing for the Company’s calculation
of its cash balance as of such month end.

 

(b)     The
Company shall not utilize more than $30.0 million of cash and cash equivalents of the Company and its Subsidiaries to finance acquisitions
or Investments (excluding acquisitions and Investments financed and consummated during a Suspension Period).

 

(c)    If
on any date following the Issue Date (i) the Company delivers to the Trustee an Officer’s Certificate certifying two consecutive
fiscal quarters of positive consolidated EBITDA, with supporting calculations set forth in an exhibit to such Officer’s Certificate,
and (ii) no Default has occurred and is continuing under this Indenture (the occurrence of the events described in the foregoing clauses
(i) and (ii) being collectively referred to as a “Cash Covenant Suspension Event”), then beginning on such date (the
“Cash Covenant Suspension Date”) and continuing until the Cash Covenant Reversion Date (such period of time between
and including the Cash Covenant Suspension Date and the Cash Covenant Reversion Date, but excluding the Cash Covenant Reversion Date,
being referred to as the “Suspension Period”), the Company and its Subsidiaries will not be subject to the restrictions
set forth in Section 4.19(a)(x) or (b) (for the avoidance of doubt, the Company shall continue to be subject to the delivery requirement
set forth in Section 4.19(a)(y) during the Suspension Period).

 

(d)    No
later than 15 Business Days following the end of each fiscal quarter following a Cash Covenant Suspension Event, the Company shall provide
the Trustee with an Officer’s Certificate certifying its consolidated EBITDA for such quarter, with supporting calculations set
forth in an exhibit to such Officer’s Certificate.

 

(e)    In
the event that during the Suspension Period the Company shall either (x) fail to provide an Officer’s Certificate to the Trustee
certifying its consolidated EBITDA for the most recent fiscal quarter or (y) have provided to the Trustee one or more Officer’s
Certificates indicating negative consolidated EBITDA for two consecutive fiscal quarters, then the Company and its Subsidiaries will thereafter
(until any subsequent Cash Covenant Suspension Event) be subject to all of the restrictions set forth in this Section 4.19 (such date
the “Cash Covenant Reversion Date”).

 

(f)     From
and after the Cash Covenant Reversion Date and prior to the next succeeding Cash Covenant Suspension Event, if any, (i) no Default, Event
of Default or breach of any kind with respect to this Section 4.19 will be deemed to exist under this Indenture or the Notes with respect
to actions taken or events occurring during the Suspension Period pursuant to any contractual commitment or obligation arising during
any Suspension Period, and (ii) the Company and each Subsidiary will be permitted, without causing a Default or Event of Default with
respect to this Section 4.19, to honor, comply with or otherwise perform any contractual commitment or obligation arising during any Suspension
Period and to consummate the transactions contemplated thereby.

 

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ARTICLE
5

Lists of Holders and Reports by the Company and the Trustee

 

Section 5.01.      Lists
of Holders. The Company covenants and agrees that it will furnish or cause to be
furnished to the Trustee not more than 15 days after each Regular Record Date beginning with the Regular Record Date on [●], 2022,
and at such other times as the Trustee may request in writing, within 30 days after receipt by the Company of any such request (or such
lesser time as the Trustee may reasonably request in order to enable it to timely provide any notice to be provided by it hereunder),
a list in such form as the Trustee may reasonably require of the names and addresses of the Holders as of a date not more than 15 days
(or such other date as the Trustee may reasonably request in order to so provide any such notices) prior to the time such information
is furnished, except that no such list need be furnished so long as the Trustee is acting as Note Registrar.

 

Section 5.02.      Preservation
and Disclosure of Lists. The Trustee shall preserve, in as current a form as is reasonably
practicable, all information as to the names and addresses of the Holders contained in the most recent list furnished to it as provided
in Section 5.01 or maintained by the Trustee in its capacity as Note Registrar, if so acting. The Trustee may destroy any list furnished
to it as provided in Section 5.01 upon receipt of a new list so furnished.

 

ARTICLE
6

Defaults and Remedies

 

Section 6.01.      Events
of Default. Each of the following events shall be an “Event of Default”
with respect to the Notes:

 

(a)    default
in any payment of interest on any Note when due and payable, and the default continues for a period of 30 consecutive days;

 

(b)    default
in the payment of principal or premium, if any, of any Note when due and payable on the Maturity Date, upon Optional Redemption, upon
any required repurchase, upon declaration of acceleration or otherwise;

 

(c)    failure
by the Company to comply with its obligation to convert the Notes in accordance with this Indenture upon exercise of a Holder’s
conversion right and such failure continues for three Business Days;

 

(d)    failure
by the Company to issue a Fundamental Change Company Notice in accordance with Section 15.02(c), notice of a tMake-Whole Fundamental
Change in accordance with Section 14.03(b), in each case when due and such failure continues for five Business Days;

 

(e)    failure
by the Company to comply with its obligations under Article 11;

 

(f)     (i)
failure by the Company for 10 days after written notice from the Trustee or the Holders of at least 25% in aggregate principal amount
of the Notes then outstanding has been received by the Company to comply with its obligations under Section 4.19(a) or (b); and (ii) failure
by the Company for 60 days after written notice from the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes
then outstanding has been received by the Company to comply with any of its other agreements (other than its obligations referenced above
under clauses (a) through (e) and (f)(i)) contained in the Notes or this Indenture;

 

(g)    default
by the Company or any Significant Subsidiary of the Company with respect to any mortgage, agreement or other instrument under which there
may be outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed in excess of $10,000,000 (or its
foreign currency equivalent) in the aggregate of the Company and/or any such Significant Subsidiary, whether such indebtedness now exists
or shall hereafter be created (i) resulting in such indebtedness becoming or being declared due and payable prior to its stated maturity
date or (ii) constituting a failure to pay the principal of any such indebtedness when due and payable (after the expiration of all applicable
grace periods) at its stated maturity, upon required repurchase, upon declaration of acceleration or otherwise, and in the cases of clauses (i)
and (ii), such acceleration shall not have been rescinded or annulled or such failure to pay or default shall not have been cured or waived,
or such indebtedness is not paid or discharged, as the case may be, within 30 days after written notice to the Company by the Trustee
or to the Company and the Trustee by Holders of at least 25% in aggregate principal amount of Notes then outstanding in accordance with
this Indenture;

 

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(h)    the
Company or any Significant Subsidiary shall commence a voluntary case or other proceeding seeking liquidation, reorganization or other
similar relief with respect to the Company or any such Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar
law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the
Company or any such Significant Subsidiary or any substantial part of its property, or shall consent to any such relief or to the appointment
of or taking possession by any such official in an involuntary case or other proceeding commenced against it, or shall make a general
assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due;

 

(i)     an
involuntary case or other proceeding shall be commenced against the Company or any Significant Subsidiary seeking liquidation, reorganization
or other similar relief with respect to the Company or such Significant Subsidiary or its debts under any bankruptcy, insolvency or other
similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official
of the Company or such Significant Subsidiary or any substantial part of its property, and such involuntary case or other proceeding shall
remain undismissed and unstayed for a period of 60 consecutive days; or

 

(j)     a
final judgment or judgments for the payment of $10,000,000 (or its foreign currency equivalent) or more (in each case excluding any amounts
covered by insurance) in the aggregate rendered against the Company or any of its Significant Subsidiaries, which judgment is not discharged,
bonded, paid, waived or stayed within 60 days after (i) the date on which the right to appeal thereof has expired if no such appeal has
commenced, or (ii) the date on which all rights to appeal have been extinguished.

 

Section 6.02.      Acceleration;
Rescission and Annulment. If one or more Events of Default (other than an Event of
Default specified in Section 6.01(h) or Section 6.01(i) with respect to the Company (and not with respect to a Significant Subsidiary))
shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary
or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative
or governmental body), then, and in each and every such case, unless the principal of all of the Notes shall have already become due and
payable, either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding determined in accordance
with Section 8.04, by notice in writing to the Company (and to the Trustee if given by Holders), may declare 100% of the principal
of, and accrued and unpaid interest on, all the Notes to be due and payable immediately, and upon any such declaration the same shall
become and shall automatically be immediately due and payable, anything contained in this Indenture or in the Notes to the contrary notwithstanding.
If an Event of Default specified in Section 6.01(h) or Section 6.01(i) with respect to the Company (and not with respect to a Significant
Subsidiary) occurs and is continuing, 100% of the principal of, and accrued and unpaid interest, if any, on, all Notes shall become and
shall automatically be immediately due and payable.

 

The immediately preceding paragraph, however, is
subject to the conditions that if, at any time after the principal of the Notes shall have been so declared due and payable, and before
any judgment or decree for the payment of the monies due shall have been obtained or entered as hereinafter provided, and if (1) rescission
would not conflict with any judgment or decree of a court of competent jurisdiction and (2) any and all existing Events of Default under
this Indenture, other than the nonpayment of the principal of and accrued and unpaid interest, if any, on Notes that shall have become
due solely by such acceleration, shall have been cured or waived pursuant to Section 6.09, then and in every such case (except as
provided in the immediately succeeding sentence) the Holders of a majority in aggregate principal amount of the Notes then outstanding (including,
without limitation, additional Notes and PIK Notes), by written notice to the Company and to the Trustee, may waive all Defaults or Events
of Default with respect to the Notes and rescind and annul such declaration and its consequences and 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
or rescission and annulment shall extend to or shall affect any subsequent Default or Event of Default, or shall impair any right consequent
thereon. Notwithstanding anything to the contrary herein, no such waiver or rescission and annulment shall extend to or shall affect any
Default or Event of Default resulting from (i) the nonpayment of the principal (including the Redemption Price and the Fundamental Change
Repurchase Price, if applicable) of, or accrued and unpaid interest on, any Notes, (ii) a failure to repurchase any Notes when required
or (iii) a failure to pay or deliver, as the case may be, the consideration due upon conversion of the Notes.

 

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Notwithstanding anything to the contrary in this
Indenture or the Notes, if the Notes are accelerated or otherwise become due prior to their stated maturity, in each case as a result
of an Event of Default (including, but not limited to, an Event of Default specified in Section 6.01(h) or Section 6.01(i) (including
the acceleration of any portion of the Indebtedness evidenced by the Notes by operation of law)), the amount that shall then be due and
payable shall be equal to: (x) 100% of the principal amount of the Notes (including PIK Notes) then outstanding plus the
Applicable Premium in effect on the date of such acceleration plus (y) accrued and unpaid interest to, but excluding,
the date of such acceleration, in each case as if such acceleration were an optional redemption of the Notes so accelerated. Without limiting
the generality of the foregoing, it is understood and agreed that if the Notes are accelerated or otherwise become due prior to their
stated maturity, in each case, as a result of an Event of Default (including, but not limited to, an Event of Default specified in Section
6.01(h) or Section 6.01(i) (including the acceleration of any portion of the Indebtedness evidenced by the Notes by operation of law)),
the Applicable Premium with respect to an optional redemption of the Notes shall also be due and payable as though the Notes had been
optionally redeemed on the date of such acceleration and shall constitute part of the Obligations with respect to the Notes in view of
the impracticability and difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation
of each Holder’s lost profits as a result thereof. If the Applicable Premium becomes due and payable, it shall be deemed to be principal
of the Notes and interest shall accrue on the full principal amount of the Notes (including the Applicable Premium) from and after the
applicable triggering event, including in connection with an Event of Default specified in Section 6.01(h) or Section 6.01(i). Any premium
payable pursuant to this paragraph shall be presumed to be liquidated damages sustained by each Holder as the result of the acceleration
of the Notes and the Company agrees that it is reasonable under the circumstances currently existing. The premium shall also be payable
in the event the Notes or this Indenture are satisfied, released or discharged through foreclosure, whether by judicial proceeding, deed
in lieu of foreclosure or by any other means. THE COMPANY EXPRESSLY WAIVES (TO THE FULLEST EXTENT IT MAY LAWFULLY DO SO) THE PROVISIONS
OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT PROHIBITS OR MAY PROHIBIT THE COLLECTION OF THE FOREGOING PREMIUM IN CONNECTION WITH ANY
SUCH ACCELERATION. The Company expressly agrees (to the fullest extent it may lawfully do so) that: (A) the premium is reasonable and
is the product of an arm’s length transaction between sophisticated business entities ably represented by counsel; (B) the premium
shall be payable notwithstanding the then prevailing market rates at the time acceleration occurs; (C) there has been a course of conduct
between the Holders and the Company giving specific consideration in this transaction for such agreement to pay the premium; and (D) the
Company shall be estopped hereafter from claiming differently than as agreed to in this paragraph. The Company and expressly acknowledges
that its agreement to pay the premium to the Holders as herein described is a material inducement to the Holders to purchase the Notes.
THE PREMIUM IS DEEMED TO CONSTITUTE LIQUIDATED DAMAGES, AND THE PARTIES HERETO EACH ACKNOWLEDGE AND AGREE THAT SUCH DAMAGES ARE DIFFICULT
OR IMPOSSIBLE TO DETERMINE AND THAT THE SETTLEMENT AMOUNT IS INTENDED TO BE A REASONABLE APPROXIMATION OF THE AMOUNT OF SUCH DAMAGES AND
NOT A PENALTY.

 

Section 6.03.      Additional
Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary,
to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations
as set forth in Section 4.06(b) shall, for the first 365 days after the occurrence of such an Event of Default, consist exclusively
of the right to receive Additional Interest on the Notes at a rate equal to (x) 0.25% per annum of the principal amount of the Notes outstanding
for each day during the first 180 days during which such Event of Default is continuing beginning on, and including, the date on which
such Event of Default occurs, and (y) 0.50% per annum of the principal amount of the Notes outstanding from the 181st day
to, and including, the 365th day following the occurrence of such Event of Default, as long as such Event of Default is
continuing. Subject to the last paragraph of this Section 6.03, Additional Interest payable pursuant to this Section 6.03 shall
be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d). If the Company so elects, such Additional
Interest shall be payable in cash in the same manner and on the same dates as the stated interest payable on the Notes. On the 366th day
after such Event of Default (if the Event of Default relating to the Company’s failure to comply with its obligations as set forth
in Section 4.06(b) is not cured or waived prior to such 366th day), the Notes shall be immediately subject to acceleration
in accordance with Section 6.02. The provisions of this paragraph will not affect the rights of Holders in the event of the occurrence
of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In
the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03
or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject
to acceleration as provided in Section 6.02.

 

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In order to elect to pay Additional Interest as
the sole remedy during the first 365 days after the occurrence of any Event of Default relating to the Company’s failure to comply
with its obligations as set forth in Section 4.06(b) in accordance with the immediately preceding paragraph, the Company must notify
all Holders of the Notes, the Trustee and the Paying Agent in writing of such election prior to the beginning of such 365-day period.
Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

 

In no event shall Additional Interest payable at
the Company’s election for failure to comply with its obligations as set forth in Section 4.06(b) as set forth in this Section
6.03, together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or
report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after
giving effect to all applicable grace periods under the Exchange Act and other than reports on Form 8-K), pursuant to Section 4.06(d),
accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise
to the requirement to pay such Additional Interest. The Trustee shall have no duty to calculate or verify the calculation of Additional
Interest.

 

Section 6.04.      Payments
of Notes on Default; Suit Therefor. If an Event of Default described in clause (a)
or (b) of Section 6.01 shall have occurred and be continuing, the Company shall, upon demand of the Trustee, pay to the Trustee,
for the benefit of the Holders of the Notes, the whole amount then due and payable on the Notes for principal and interest, if any, with
interest on any overdue principal and interest, if any, at the rate borne by the Notes at such time and, in addition thereto, such further
amount as shall be sufficient to cover any amounts due to the Trustee under Section 7.06. If the Company shall fail 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 the Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out
of the property of the Company or any other obligor upon the Notes, wherever situated.

 

In the event there shall be pending proceedings
for the bankruptcy or for the reorganization of the Company or any other obligor on the Notes under Title 11 of the United States Code,
or any other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar
official shall have been appointed for or taken possession of the Company or such other obligor, the property of the Company or such other
obligor, or in the event of any other judicial proceedings relative to the Company or such other obligor upon the Notes, or to the creditors
or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of the Notes 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 pursuant
to the provisions of this Section 6.04, shall be entitled and empowered, by intervention in such proceedings or otherwise, to file
and prove a claim or claims for the whole amount of principal and accrued and unpaid interest, if any, in respect of the Notes, and, in
case of any judicial proceedings, to file such proofs of claim and other papers or documents and to take such other actions as it may
deem 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 proceedings relative to
the Company or any other obligor on the Notes, its or their creditors, or its or their property, and to collect and receive any monies
or other property payable or deliverable on any such claims, and to distribute the same after the deduction of any amounts due to the
Trustee under Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization, liquidator, custodian or similar
official is hereby authorized by each of the Holders to make such payments to the Trustee, as administrative expenses, 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 reasonable
compensation, expenses, advances and disbursements, including agents and counsel fees, and including any other amounts due to the Trustee
under Section 7.06, incurred by it up to the date of such distribution. To the extent that such payment of reasonable compensation,
expenses, advances and disbursements out of the estate in any such proceedings shall be denied for any reason, payment of the same shall
be secured by a lien on, and shall be paid out of, any and all distributions, dividends, monies, securities and other property that the
Holders of the Notes may be entitled to receive in such proceedings, whether in liquidation or under any plan of reorganization or arrangement
or otherwise.

 

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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 such Holder 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.

 

All rights of action and of asserting claims under
this Indenture, or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes, or the production
thereof at any trial or other proceeding relative thereto, and any such suit or 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 Notes.

 

In any proceedings brought by the Trustee (and in
any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party) the Trustee shall
be held to represent all the Holders of the Notes, and it shall not be necessary to make any Holders of the Notes parties to any such
proceedings.

 

In case the Trustee shall have proceeded to enforce
any right under this Indenture and such proceedings shall have been discontinued or abandoned because of any waiver pursuant to Section
6.09 or any rescission and annulment pursuant to Section 6.02 or for any other reason or shall have been determined adversely to
the Trustee, then and in every such case the Company, the Holders and the Trustee shall, subject to any determination in such proceeding,
be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company, the Holders
and the Trustee shall continue as though no such proceeding had been instituted.

 

Section 6.05.      Application
of Monies Collected by Trustee. Any monies or property collected by the Trustee pursuant
to this Article 6 with respect to the Notes shall be applied in the following order, at the date or dates fixed by the Trustee
for the distribution of such monies, upon presentation of the several Notes, and stamping thereon the payment, if only partially paid,
and upon surrender thereof, if fully paid:

 

First, to the payment of all amounts due
the Trustee (in each of its capacities under this Indenture) hereunder;

 

Second, in case the principal of the outstanding
Notes shall not have become due and be unpaid, to the payment of interest on, and any cash due upon conversion of, the Notes in default
in the order of the date due of the payments of such interest and cash due upon conversion, as the case may be, with interest (to the
extent that such interest has been collected by the Trustee) upon such overdue payments at the rate borne by the Notes at such time, such
payments to be made ratably to the Persons entitled thereto;

 

Third, in case the principal of the outstanding
Notes shall have become due, by declaration or otherwise, and be unpaid to the payment of the whole amount (including, if applicable,
the payment of the Redemption Price and the Fundamental Change Repurchase Price and any cash due upon conversion) then owing and unpaid
upon the Notes for principal and interest, if any, with interest on the overdue principal and, to the extent that such interest has been
collected by the Trustee, upon overdue installments of interest at the rate borne by the Notes at such time, and in case such monies shall
be insufficient to pay in full the whole amounts so due and unpaid upon the Notes, then to the payment of such principal (including, if
applicable, the Redemption Price and the Fundamental Change Repurchase Price and any cash due upon conversion) and interest without preference
or priority of principal over interest, or of interest over principal or of any installment of interest over any other installment of
interest, or of any Note over any other Note, ratably to the aggregate of such principal (including, if applicable, the Redemption Price
and the Fundamental Change Repurchase Price and any cash due upon conversion) and accrued and unpaid interest; and

 

Fourth, to the payment of the remainder,
if any, to the Company.

 

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Section 6.06. Proceedings
by Holders. Except to enforce the right to receive payment of principal
(including, if applicable, the Redemption Price and the Fundamental Change Repurchase Price) or interest when due, or the right to
receive payment or delivery of the consideration due upon conversion, no Holder of any Note shall have any right by virtue of or by
availing of any provision of this Indenture or the Notes to institute any suit, action or proceeding in equity or at law upon or
under or with respect to this Indenture, or for the appointment of a receiver, trustee, liquidator, custodian or other similar
official, or for any other remedy hereunder, unless:

 

(a)    such
Holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof, as herein provided;

 

(b)    Holders
of at least 25% in aggregate principal amount of the Notes then outstanding shall have made written request upon the Trustee to institute
such action, suit or proceeding in its own name as Trustee hereunder;

 

(c)    such
Holders shall have offered to the Trustee such security or indemnity reasonably satisfactory to it against any losses, liabilities, costs,
or expenses;

 

(d)    the
Trustee for 60 days after its receipt of such written notice, request and offer of such security or indemnity, shall have neglected or
refused to institute any such action, suit or proceeding; and

 

(e)    no
direction that, in the opinion of the Trustee, is inconsistent with such written request shall have been given to the Trustee by the Holders
of a majority of the aggregate principal amount of the Notes then outstanding within such 60-day period pursuant to Section 6.09,

 

it being understood and intended, and being expressly covenanted by
the taker and Holder of every Note with every other taker and Holder and the Trustee that no one or more 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 Holder, or to obtain or seek to obtain priority over or preference to any other such Holder (it being understood that the Trustee
does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holder), or
to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Holders
(except as otherwise provided herein). For the protection and enforcement of this Section 6.06, each and every Holder and the Trustee
shall be entitled to such relief as can be given either at law or in equity.

 

Notwithstanding any other provision of this Indenture
and any provision of any Note, each Holder shall have the right to institute suit for the enforcement of its right to receive payment
or delivery, as the case may be, of (x) the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if
applicable) of, (y) accrued and unpaid interest, if any, on, and (z) the consideration due upon conversion of, such Note, on or after
the respective due dates expressed or provided for in such Note or in this Indenture, or to institute suit for the enforcement of any
such payment or delivery, as the case may be.

 

Section 6.07.      Proceedings
by Trustee. In case of an Event of Default, the Trustee may in its discretion proceed
to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as are necessary to protect
and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for
the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this
Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

 

Section 6.08.      Remedies
Cumulative and Continuing. Except as provided in the last paragraph of Section
2.06, all powers and remedies given by this Article 6 to the Trustee or to the Holders shall, to the extent permitted by law,
be deemed cumulative and not exclusive of any thereof or of any other powers and remedies available to the Trustee or the Holders of the
Notes, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this
Indenture, and no delay or omission of the Trustee or of any Holder of any of the Notes to exercise any right or power accruing upon any
Default or Event of Default shall impair any such right or power, or shall be construed to be a waiver of any such Default or Event of
Default or any acquiescence therein; and, subject to the provisions of Section 6.06, every power and remedy given by this Article 6
or by law to the Trustee or to the Holders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee
or by the Holders.

 

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Section 6.09. Direction
of Proceedings and Waiver of Defaults by Majority of Holders. Subject to the Trustee’s
right to receive security or indemnity from the relevant Holders as described herein, the Holders of a majority of the aggregate principal
amount of the Notes at the time outstanding determined in accordance with Section 8.04 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 Notes; provided, however, that (a) such direction shall not be in conflict with any rule of
law or with this Indenture, and (b) the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such
direction. The Trustee may refuse to follow any direction that it determines is unduly prejudicial to the rights of any other Holder (it
being understood that the Trustee does not have an affirmative duty to ascertain whether or not such directions are unduly prejudicial
to such Holder) or that would involve the Trustee in personal liability or that conflicts with applicable law or this Indenture.

 

The Holders of a majority in aggregate principal
amount of the Notes at the time outstanding (including, without limitation, additional Notes and PIK Notes) determined in accordance
with Section 8.04 may on behalf of the Holders of all of the Notes (x) waive any past Default or Event of Default hereunder and its
consequences except any continuing defaults relating to (i) a default in the payment of accrued and unpaid interest, if any, on, or the
principal (including any Redemption Price and any Fundamental Change Repurchase Price) of, the Notes when due that has not been cured
pursuant to the provisions of Section 6.01, (ii) a failure by the Company to pay or deliver, as the case may be, the consideration
due upon conversion of the Notes or (iii) a default in respect of a covenant or provision hereof which under Article 10 cannot be
modified or amended without the consent of each Holder of an outstanding Note affected; and (y) rescind any resulting acceleration of
the Notes and its consequences if (i) such rescission would not conflict with any judgment or decree of a court of competent jurisdiction
and (ii) all existing Events of Default (other than nonpayment of the principal of, and interest on, the Notes that have become due solely
by such acceleration) have been cured or waived. Upon any such waiver the Company, the Trustee and the Holders of the Notes shall be restored
to their former positions and rights hereunder; but no such waiver shall extend to any subsequent or other Default or Event of Default
or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section
6.09, said Default or Event of Default shall for all purposes of the Notes and this Indenture be deemed to have been cured and to be not
continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon.

 

Section 6.10. Notice
of Defaults. The Trustee shall, within 90 days after a Responsible Officer obtains
actual knowledge of the occurrence and continuance of a Default, deliver to all Holders notice of all Defaults known to a Responsible
Officer, unless such Defaults shall have been cured or waived before the giving of such notice; provided that, except
in the case of a Default in the payment of the principal of (including the Redemption Price and the Fundamental Change Repurchase Price,
if applicable), or accrued and unpaid interest on, any of the Notes or a Default in the payment or delivery of the consideration due upon
conversion, the Trustee shall be protected in withholding such notice if and so long as a Responsible Officer determines in good faith
that the withholding of such notice is in the interests of the Holders.

 

Section 6.11. Undertaking
to Pay Costs. All parties to this Indenture agree, and each Holder of any Note by
its 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 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 and expenses, 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; provided that the provisions of this Section
6.11 (to the extent permitted by law) 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 Notes at the time outstanding determined in accordance
with Section 8.04, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or accrued and
unpaid interest, if any, on any Note (including, but not limited to, the Redemption Price and the Fundamental Change Repurchase Price,
if applicable) on or after the due date expressed or provided for in such Note or to any suit for the enforcement of the right to convert
any Note, or receive the consideration due upon conversion, in accordance with the provisions of Article 14.

 

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ARTICLE
7

Concerning the Trustee

 

Section 7.01. Duties
and Responsibilities of Trustee. The Trustee, prior to the occurrence of an Event
of Default and after the curing or waiver of all Events of Default that may have occurred, undertakes to perform such duties and only
such duties as are specifically set forth in this Indenture. In the event an Event of Default has occurred and is continuing, the Trustee
shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise,
as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs; provided that
if an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under
this Indenture at the request or direction of any of the Holders unless such Holders have offered, and if requested, provided, to the
Trustee indemnity or security satisfactory to the Trustee against any loss, liability, cost or expense that might be incurred by it in
compliance with such request or direction.

 

No provision of this Indenture shall be construed
to relieve the Trustee from liability for its own gross negligence or its own willful misconduct, except that:

 

(a)  prior
to the occurrence of an Event of Default of which a Responsible Officer of the Trustee has written or actual knowledge and after the curing
or waiving of all Events of Default that may have occurred:

 

(i)   the
duties and obligations of the Trustee shall be determined solely by the express provisions of this Indenture, and the Trustee shall not
be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture and no implied covenants
or obligations shall be read into this Indenture against the Trustee; and

 

(ii)  in
the absence of gross negligence and willful misconduct on the part of the Trustee, the Trustee may conclusively rely, as to the truth
of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and
conforming to the requirements of this Indenture; but, in the case of any such certificates or opinions that by any provisions hereof
are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or
not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of any mathematical calculations
or other facts stated therein); provided, however, that the Trustee need not act or refrain from acting based on any certificate or opinion
that it determines to be not in conformity with the requirements of this Indenture. If presented with a non-conforming certificate or
opinion, the Trustee may request the delivering party to re-issue the certificate or opinion in the manner required by this Indenture
before taking any action;

 

(b)  the
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Officers of the Trustee, unless it
shall be proved in a court of competent jurisdiction in a final and non-appealable decision that the Trustee was grossly negligent in
ascertaining the pertinent facts;

 

(c)  the
Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the written
direction of the Holders of not less than a majority of the aggregate principal amount of the Notes at the time outstanding determined
as provided in Section 8.04 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;

 

(d)whether or not therein provided, every provision
of this Indenture relating to the conduct or affecting the liability of, or affording protection to, the Trustee shall be subject to the
provisions of this Section 7.01;

 

(e)  the
Trustee shall not be liable in respect of any payment (as to the correctness of amount, entitlement to receive or any other matters relating
to payment) or notice effected by the Company or any Paying Agent or any records maintained by any co-Note Registrar with respect to the
Notes;

 

(f)   if
any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires notice to be sent to
the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred, unless
a Responsible Officer of the Trustee had actual knowledge of such event;

 

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(g)  in
the absence of written investment direction from the Company, all cash received by the Trustee shall be placed in a non-interest bearing
trust account, and in no event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon
or for losses incurred as a result of the liquidation of any such investment prior to its maturity date or the failure of the party directing
such investments prior to its maturity date or the failure of the party directing such investment to provide timely written investment
direction, and the Trustee shall have no obligation to invest or reinvest any amounts held hereunder in the absence of such written investment
direction from the Company;

 

(h)  under
no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the Notes; and

 

(i)   in
the event that the Trustee is also acting as Custodian, Note Registrar, Paying Agent, Conversion Agent, transfer agent, or any other agent
hereunder, the rights and protections afforded to the Trustee pursuant to this Article 7 shall also be afforded to such Custodian,
Note Registrar, Paying Agent, Conversion Agent, transfer agent, or any other agent hereunder.

 

None of the provisions contained in this Indenture
shall require the Trustee to expend or risk its own funds or otherwise incur personal financial liability in the performance of any of
its duties hereunder or in the exercise of any of its rights or powers.

 

Section 7.02. Reliance
on Documents, Opinions, Etc. Except as otherwise provided in Section 7.01:

 

(a)  the
Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, bond, debenture, note, coupon or other paper or document believed by it
in good faith to be genuine and to have been signed or presented by the proper party or parties;

 

(b)  any
request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an Officer’s Certificate
(unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to the Trustee
by a copy thereof certified by the Secretary or an Assistant Secretary of the Company;

 

(c)  whenever
in the administration of this Indenture, the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering
or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of gross negligence
or willful misconduct on its part, conclusively rely upon an Officer’s Certificate;

 

(d)  the
Trustee may consult with counsel of its selection, and require an Opinion of Counsel and any advice of such counsel or Opinion of Counsel
shall be full and complete authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in
accordance with such advice or Opinion of Counsel;

 

(e)  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 or other paper or document, but the Trustee, in its discretion,
may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make
such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by
agent or attorney at the expense of the Company and shall incur no liability of any kind by reason of such inquiry or investigation;

 

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

 

(g)  the
permissive rights of the Trustee enumerated herein shall not be construed as duties;

 

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(h)  the
Trustee may request that the Company deliver an Officer’s Certificate setting forth the names of the individuals and/or titles of
officers authorized at such times to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed
by any Person authorized to sign an Officer’s Certificate, including any Person specified as so authorized in any such certificate
previously delivered and not superseded;

 

(i)   the
Trustee shall not be responsible or liable for any action it takes or omits to take in good faith which it reasonably believes to be authorized
or within its rights or powers;

 

(j)   the
Trustee shall not be required to give any bond or surety in respect of its powers and duties hereunder; and

 

(k)  neither
the Trustee nor any of its directors, officers, employees, agents, or affiliates shall be responsible for nor have any duty to monitor
the performance or any action of the Company, or any of their respective directors, members, officers, agents, affiliates, or employees,
nor shall it have any liability in connection with the malfeasance or nonfeasance by such party. The Trustee shall not be responsible
for any inaccuracy or omission in the information obtained from the Company or for any inaccuracy or omission in the records which may
result from such information or any failure by the Trustee to perform its duties or set forth herein as a result of any inaccuracy or
incompleteness.

 

In no event shall the Trustee be liable for any
special, indirect, punitive, or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even
if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. The Trustee shall not be
charged with knowledge of any Default or Event of Default with respect to the Notes, unless either (1) a Responsible Officer shall have
actual knowledge of such Default or Event of Default or (2) written notice of such Default or Event of Default shall have been given to
the Trustee and actually received by a Responsible Officer at the Corporate Trust Office of the Trustee by the Company or by any Holder
or any agent of any Holder, referencing this Indenture and/or of the Notes and stating that it is a “notice of default.”

 

Section 7.03. No
Responsibility for Recitals, Etc. The recitals contained herein and in the Notes
(except in the Trustee’s certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes
no responsibility for the correctness of the same. The Trustee makes no representations as to the validity, enforceability or sufficiency
of this Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of any Notes or the
proceeds of any Notes authenticated and delivered by the Trustee in conformity with the provisions of this Indenture or any money paid
to the Company or upon the Company’s direction under any provision of this Indenture. The Trustee shall have no responsibility or
liability with respect to any information, statement or recital in any disclosure material prepared or distributed with respect to the
issuance of the Notes.

 

Section 7.04. Trustee,
Paying Agents, Conversion Agents or Note Registrar May Own Notes. The Trustee, any
Paying Agent, any Conversion Agent or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes
with the same rights it would have if it were not the Trustee, Paying Agent, Conversion Agent or Note Registrar.

 

Section 7.05. Monies
and Shares of Common Stock to Be Held in Trust. All monies and shares of Common Stock
received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received.
Money and shares of Common Stock held by the Trustee in trust hereunder need not be segregated from other funds or property except to
the extent required by law. The Trustee shall be under no liability for interest on any money or shares of Common Stock received by it
hereunder except as may be agreed from time to time by the Company and the Trustee. The Trustee shall not be obligated to take possession
of any Common Stock, whether on conversion or in connection with any discharge of this Indenture pursuant to Article 3 hereof, but shall
satisfy its obligation as Conversion Agent by working through the stock transfer agent of the Company from time to time as directed by
the Company.

 

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Section
7.06. Compensation and Expenses of
Trustee. The Company covenants and agrees to pay to the Trustee, in any
capacity under this Indenture, from time to time and the Trustee shall receive such compensation agreed in writing between the
Company and the Trustee for all services rendered by it hereunder in any capacity (which shall not be limited by any provision of
law in regard to the compensation of a trustee of an express trust) as mutually agreed to in writing between the Trustee and
the Company, and the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and
advances reasonably incurred or made by the Trustee in accordance with any of the provisions of this Indenture in any capacity
thereunder (including the reasonable compensation and the expenses and disbursements of its agents and counsel and of all Persons
not regularly in its employ and including reasonable attorneys’ fees in connection with its enforcement of its rights to
indemnity herein) except any such expense, disbursement or advance as shall have been caused by its gross negligence or willful
misconduct, as determined by a final, non-appealable decision of a court of competent jurisdiction. The Company also covenants to
indemnify the Trustee or any predecessor Trustee in any capacity under this Indenture and any other document or transaction entered
into in connection herewith and its officers, directors, attorneys, employees and agents and any authenticating agent for, and to
hold them harmless against, any loss, claim (whether asserted by the Company, a Holder or any other Person), damage, liability or
expense (including reasonable attorneys’ fees) incurred without gross negligence or willful misconduct on the part of the
Trustee, its officers, directors, agents or employees, or such agent or authenticating agent, as the case may be determined by a
final, non-appealable decision of a court of competent jurisdiction, and arising out of or in connection with the acceptance or
administration of this Indenture or in any other capacity hereunder, including the costs and expenses of defending themselves
against any claim of liability in the premises and enforcement of this Section 7.06. The obligations of the Company under
this Section 7.06 to compensate or indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and
advances shall be secured by a senior lien to which the Notes are hereby made subordinate on all money or property held or collected
by the Trustee, except, subject to the effect of Section 6.05, funds held in trust herewith for the benefit of the Holders of
particular Notes, and, for the avoidance of doubt, such lien shall not be extended in a manner that would conflict with the
Company’s obligations to its other creditors. The Trustee’s right to receive payment of any amounts due under
this Section 7.06 shall not be subordinate to any other liability or indebtedness of the Company. The obligation of the Company
under this Section 7.06 shall survive the satisfaction and discharge of this Indenture, the payment of the Notes, and the
earlier resignation or removal of the Trustee. The Company need not pay for any settlement made without its consent, which consent
shall not be unreasonably withheld. The indemnification provided in this Section 7.06 shall extend to the officers, directors,
agents and employees of the Trustee.

 

Without prejudice to any other rights available
to the Trustee under applicable law, when the Trustee and its agents and any authenticating agent incur expenses or render services after
an Event of Default specified in Section 6.01(h) or Section 6.01(i) occurs, the expenses and the compensation for the services are
intended to constitute expenses of administration under any bankruptcy, insolvency or similar laws.

 

Section 7.07. Officer’s
Certificate and Opinion of Counsel as Evidence. Except as otherwise provided in Section
7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter
be proved or established prior to taking or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein
specifically prescribed) may, in the absence of gross negligence or willful misconduct on the part of the Trustee, be deemed to be conclusively
proved and established by an Officer’s Certificate and Opinion of Counsel delivered to the Trustee, and such Officer’s Certificate
and Opinion of Counsel, in the absence of gross negligence or willful misconduct on the part of the Trustee, shall be full warrant to
the Trustee for any action taken or omitted by it under the provisions of this Indenture upon the faith thereof.

 

Section 7.08. Eligibility
of Trustee. There shall at all times be a Trustee hereunder which shall be a Person
that is eligible pursuant to the Trust Indenture Act (as if the Trust Indenture Act were applicable hereto) to act as such and has a combined
capital and surplus of at least the minimum amount required by the Trust Indenture Act. If such Person publishes reports of condition
at least annually, pursuant to law or to the requirements of any supervising or examining authority, then for the purposes of this Section
7.08, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most
recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section
7.08, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

 

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Section
7.09. Resignation or Removal of
Trustee. (a)  The Trustee may at any time resign by giving written
notice of such resignation to the Company and by delivering notice thereof to the Holders. Upon receiving such notice of
resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, executed by an Officer of
the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no
successor trustee shall have been so appointed and have accepted appointment within 45 days after the giving of such notice
of resignation to the Holders, the resigning Trustee may, at the expense of the Company, upon ten Business Days’ notice to the
Company and the Holders, petition any court of competent jurisdiction, for the appointment of a successor trustee, or any Holder who
has been a bona fide holder of a Note or Notes for at least six months (or since the date of this Indenture) may, subject to the
provisions of Section 6.11, on behalf of himself or herself and all others similarly situated, petition any such court for the
appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe,
appoint a successor trustee.

 

(b)  In
case at any time any of the following shall occur:

 

(i)  the
Trustee shall cease to be eligible in accordance with the provisions of Section 7.08 and shall fail to resign after written request
therefor by the Company or by any such Holder, or

 

(ii) the Trustee shall
become incapable of acting, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be
appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of
rehabilitation, conservation or liquidation, then, in either case, the Company may by an Officer’s Certificate remove the
Trustee and appoint a successor trustee by written instrument, in duplicate, executed by an Officer’s Certificate, one copy of
which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the provisions
of Section 6.11, any Holder who has been a bona fide holder of a Note or Notes for at least six months (or since the date of
this Indenture) may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction
for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as
it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.

 

(c)  The
Holders of a majority in aggregate principal amount of the Notes at the time outstanding (including, without limitation, additional
Notes and PIK Notes), as determined in accordance with Section 8.04, may at any time remove the Trustee and nominate a successor
trustee that shall be deemed appointed as successor trustee unless within ten days after notice to the Company of such nomination the
Company objects thereto, in which case the Trustee so removed or any Holder, upon the terms and conditions and otherwise as in Section
7.09(a) provided, may petition any court of competent jurisdiction for an appointment of a successor trustee.

 

(d)  Any
resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 7.09
shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.10.

 

Section 7.10. Acceptance
by Successor Trustee. Any successor trustee appointed as provided in Section
7.09 shall execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder,
and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee, without any further
act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like
effect as if originally named as Trustee herein; but, nevertheless, on the written request of the Company or of the successor trustee,
the trustee ceasing to act shall, upon payment of any amounts then due it pursuant to the provisions of Section 7.06, execute and
deliver an instrument transferring to such successor trustee all the rights and powers of the trustee so ceasing to act. Upon request
of any such successor trustee, the Company shall execute any and all instruments in writing for more fully and certainly vesting in and
confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall, nevertheless, retain a senior lien
to which the Notes are hereby made subordinate on all money or property held or collected by such trustee as such, except for funds held
in trust for the benefit of Holders of particular Notes, to secure any amounts then due it pursuant to the provisions of Section
7.06.

 

No successor trustee shall accept appointment as
provided in this Section 7.10 unless at the time of such acceptance such successor trustee shall be eligible under the provisions
of Section 7.08.

 

Upon acceptance of appointment by a successor trustee
as provided in this Section 7.10, each of the Company and the successor trustee, at the written direction and at the expense of the
Company shall deliver or cause to be delivered notice of the succession of such trustee hereunder to the Holders. If the Company fails
to deliver such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such
notice to be delivered at the expense of the Company.

 

No resigning Trustee shall be responsible or liable
for the actions or inactions of any successor Trustee.

 

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Section 7.11. Succession
by Merger, Etc. Any corporation or other entity into which the Trustee may be merged
or converted or with which it may be consolidated, or any corporation or other entity resulting from any merger, conversion or consolidation
to which the Trustee shall be a party, or any corporation or other entity succeeding to all or substantially all of the corporate trust
business of the Trustee (including the administration of this Indenture), shall be the successor to the Trustee hereunder without the
execution or filing of any paper or any further act on the part of any of the parties hereto; provided that in the case
of any corporation or other entity succeeding to all or substantially all of the corporate trust business of the Trustee such corporation
or other entity shall be eligible under the provisions of Section 7.08.

 

In case at the time such successor to the Trustee
shall succeed to the trusts created by this Indenture, any of the Notes shall have been authenticated but not delivered, any such successor
to the Trustee may adopt the certificate of authentication of any predecessor trustee or authenticating agent appointed by such predecessor
trustee, and deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor
to the Trustee or an authenticating agent appointed by such successor trustee may authenticate such Notes either in the name of any predecessor
trustee hereunder or in the name of the successor trustee; and in all such cases such certificates shall have the full force which it
is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee shall have; provided, however,
that the right to adopt the certificate of authentication of any predecessor trustee or to authenticate Notes in the name of any predecessor
trustee shall apply only to its successor or successors by merger, conversion or consolidation.

 

Section 7.12. Trustee’s
Application for Instructions from the Company. Any application by the Trustee for
written instructions from the Company (other than with regard to any action proposed to be taken or omitted to be taken by the Trustee
that affects the rights of the Holders of the Notes under this Indenture) may, at the option of the Trustee, set forth in writing any
action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken
or such omission shall be effective. The Trustee shall not be liable to the Company for any action taken by, or omission of, the Trustee
in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be
less than three Business Days after the date notice to the Company has been deemed given pursuant to Section 18.03, unless any such officer
shall have consented in writing to any earlier date), unless, prior to taking any such action (or the effective date in the case of any
omission), the Trustee shall have received written instructions in accordance with this Indenture in response to such application specifying
the action to be taken or omitted.

 

ARTICLE
8

Concerning The Holders

 

Section 8.01. Action
by Holders. Whenever in this Indenture it is provided that the Holders of a specified
percentage of the aggregate principal amount of the Notes may take any action (including the making of any demand or request, the giving
of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action, the Holders
of such specified percentage have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor
executed by Holders in person or by agent or proxy appointed in writing, or (b) by the record of the Holders voting in favor thereof at
any meeting of Holders duly called and held in accordance with the provisions of Article 9, or (c) by a combination of such
instrument or instruments and any such record of such a meeting of Holders. Whenever the Company or the Trustee solicits the taking of
any action by the Holders of the Notes, the Company or the Trustee may, but shall not be required to, fix in advance of such solicitation,
a date as the record date for determining Holders entitled to take such action. The record date if one is selected shall be not more than
fifteen days prior to the date of commencement of solicitation of such action.

 

Section 8.02. Proof
of Execution by Holders. Subject to the provisions of Section 7.01, Section
7.02 and Section 9.05, proof of the execution of any instrument or writing by a Holder or its agent or proxy shall be sufficient
if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory
to the Trustee. The holding of Notes shall be proved by the Note Register or by a certificate of the Note Registrar. The record of any
Holders’ meeting shall be proved in the manner provided in Section 9.06.

 

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Section 8.03. Who
Are Deemed Absolute Owners. The Company, the Trustee, any authenticating agent,
any Paying Agent, any Conversion Agent and any Note Registrar may deem the Person in whose name a Note shall be registered upon the Note
Register to be, and may treat it as, the absolute owner of such Note (whether or not such Note shall be overdue and notwithstanding any
notation of ownership or other writing thereon made by any Person other than the Company or any Note Registrar) for the purpose of receiving
payment of or on account of the principal (including any Redemption Price and any Fundamental Change Repurchase Price) of and (subject
to Section 2.03) accrued and unpaid interest on such Note, for conversion of such Note and for all other purposes under this Indenture;
and neither the Company nor the Trustee nor any Paying Agent nor any Conversion Agent nor any Note Registrar shall be affected by any
notice to the contrary. The sole registered holder of a Global Note shall be the Depositary or its nominee. All such payments or deliveries
so made to any Holder for the time being, or upon its order, shall be valid, and, to the extent of the sums or shares of Common Stock
so paid or delivered, effectual to satisfy and discharge the liability for monies payable or shares deliverable upon any such Note. Notwithstanding
anything to the contrary in this Indenture or the Notes following an Event of Default, any holder of a beneficial interest in a Global
Note may directly enforce against the Company, without the consent, solicitation, proxy, authorization or any other action of the Depositary
or any other Person, such holder’s right to exchange such beneficial interest for a Note in certificated form in accordance with
the provisions of this Indenture.

 

Section 8.04. Company-Owned
Notes Disregarded. In determining whether the Holders of the requisite aggregate
principal amount of Notes have concurred in any direction, consent, waiver or other action under this Indenture, Notes that are owned
by the Company or by any Subsidiary thereof shall be disregarded and deemed not to be outstanding for the purpose of any such determination; provided that
for the purposes of determining whether the Trustee shall be protected in relying on any such direction, consent, waiver or other action
only Notes that a Responsible Officer knows are so owned shall be so disregarded. Notes so owned that have been pledged in good faith
may be regarded as outstanding for the purposes of this Section 8.04 if the pledgee shall establish to the satisfaction of the Trustee
the pledgee’s right to so act with respect to such Notes and that the pledgee is not the Company or a Subsidiary thereof. In the
case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee.
Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officer’s Certificate listing and identifying
all Notes, if any, known by the Company to be owned or held by or for the account of any of the above described Persons; and, subject
to Section 7.01, the Trustee shall be entitled to accept such Officer’s Certificate as conclusive evidence of the facts therein
set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any such determination.

 

Section 8.05. Revocation
of Consents; Future Holders Bound. At any time prior to (but not after) the evidencing
to the Trustee, as provided in Section 8.01, of the taking of any action by the Holders of the percentage of the aggregate principal
amount of the Notes specified in this Indenture in connection with such action, any Holder of a Note that is shown by the evidence to
be included in the Notes the Holders of which have consented to such action may, by filing written notice with the Trustee at its Corporate
Trust Office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Note. Except as aforesaid,
any such action taken by the Holder of any Note shall be conclusive and binding upon such Holder and upon all future Holders and owners
of such Note and of any Notes issued in exchange or substitution therefor or upon registration of transfer thereof, irrespective of whether
any notation in regard thereto is made upon such Note or any Note issued in exchange or substitution therefor or upon registration of
transfer thereof.

 

ARTICLE
9

Holders’ Meetings

 

Section 9.01. Purpose
of Meetings. A meeting of Holders may be called at any time and from time to time
pursuant to the provisions of this Article 9 for any of the following purposes:

 

(a)  to
give any notice to the Company or to the Trustee or to give any directions to the Trustee permitted under this Indenture, or to consent
to the waiving of any Default or Event of Default hereunder (in each case, as permitted under this Indenture) and its consequences, or
to take any other action authorized to be taken by Holders pursuant to any of the provisions of Article 6;

 

(b)  to
remove the Trustee and nominate a successor trustee pursuant to the provisions of Article 7;

 

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(c)  to
consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of Section 10.02; or

 

(d)  to
take any other action authorized to be taken by or on behalf of the Holders of any specified aggregate principal amount of the Notes under
any other provision of this Indenture or under applicable law.

 

Section 9.02. Call
of Meetings by Trustee. The Trustee may at any time call a meeting of Holders to
take any action specified in Section 9.01, to be held at such time and at such place as the Trustee shall determine. Notice of every
meeting of the Holders, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such
meeting and the establishment of any record date pursuant to Section 8.01, shall be delivered to Holders of such Notes. Such notice
shall also be delivered to the Company. Such notices shall be delivered not less than 20 nor more than 90 days prior to the date fixed
for the meeting.

 

Any meeting of Holders shall be valid without notice
if the Holders of all Notes then outstanding are present in person or by proxy or if notice is waived before or after the meeting by the
Holders of all Notes then outstanding, and if the Company and the Trustee are either present by duly authorized representatives or have,
before or after the meeting, waived notice.

 

Section 9.03. Call
of Meetings by Company or Holders. In case at any time the Company, pursuant to a
Board Resolution, or the Holders of at least 10% of the aggregate principal amount of the Notes then outstanding, shall have requested
the Trustee to call a meeting of Holders, by written request setting forth in reasonable detail the action proposed to be taken at the
meeting, and the Trustee shall not have delivered the notice of such meeting within 20 days after receipt of such request, then the Company
or such Holders may determine the time and the place for such meeting and may call such meeting to take any action authorized in Section
9.01, by delivering notice thereof as provided in Section 9.02.

 

Section 9.04. Qualifications
for Voting. To be entitled to vote at any meeting of Holders a Person shall (a) be
a Holder of one or more Notes on the record date pertaining to such meeting or (b) be a Person appointed by an instrument in writing as
proxy by a Holder of one or more Notes on the record date pertaining to such meeting. The only Persons who shall be entitled to be present
or to speak at any meeting of Holders shall be the Persons entitled to vote at such meeting and their counsel and any representatives
of the Trustee and its counsel and any representatives of the Company and its counsel.

 

Section 9.05. Regulations. Notwithstanding
any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders,
in regard to proof of the holding of Notes and of the appointment of proxies, and in regard to the appointment and duties of inspectors
of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning
the conduct of the meeting as it shall think fit.

 

The Trustee shall, by an instrument in writing,
appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders as provided in Section
9.03, in which case the Company or the Holders calling the meeting, as the case may be, shall in like manner appoint a temporary chairman.
A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Holders of a majority in aggregate principal
amount of the outstanding Notes (including, without limitation, additional Notes and PIK Notes) represented at the meeting and
entitled to vote at the meeting.

 

Subject to the provisions of Section 8.04,
at any meeting of Holders each Holder or proxyholder shall be entitled to one vote for each $1,000 principal amount of Notes held or represented
by him or her; provided, however, that no vote shall be cast or counted at any meeting in respect of any Note
challenged as not outstanding and ruled by the chairman of the meeting to be not outstanding. The chairman of the meeting shall have no
right to vote other than by virtue of Notes held by it or instruments in writing as aforesaid duly designating it as the proxy to vote
on behalf of other Holders. Any meeting of Holders duly called pursuant to the provisions of Section 9.02 or Section 9.03 may
be adjourned from time to time by the Holders of a majority of the aggregate principal amount of Notes represented at the meeting, whether
or not constituting a quorum, and the meeting may be held as so adjourned without further notice.

 

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Section 9.06. Voting. The
vote upon any resolution submitted to any meeting of Holders shall be by written ballot on which shall be subscribed the signatures of
the Holders or of their representatives by proxy and the outstanding aggregate principal amount of the Notes held or represented by them.
The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against
any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes
cast at the meeting. A record in duplicate of the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting
and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits
by one or more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was
delivered as provided in Section 9.02. The record shall show the aggregate principal amount of the Notes voting in favor of or against
any resolution. The record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one
of the duplicates shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee, the latter to have attached
thereto the ballots voted at the meeting.

 

Any record so signed and verified shall be conclusive
evidence of the matters therein stated.

 

Section 9.07. No
Delay of Rights by Meeting. Nothing contained in this Article 9 shall be
deemed or construed to authorize or permit, by reason of any call of a meeting of Holders or any rights expressly or impliedly conferred
hereunder to make such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or
to the Holders under any of the provisions of this Indenture or of the Notes.

 

ARTICLE
10

Supplemental Indentures

 

Section 10.01.   Supplemental
Indentures Without Consent of Holders. The Company and the Trustee, at the Company’s
expense, may from time to time and at any time amend this Indenture or enter into an indenture or indentures supplemental hereto for one
or more of the following purposes to:

 

(a)  cure
any ambiguity, omission, defect or inconsistency in this Indenture;

 

(b)  provide
for the assumption by a Successor Company of the obligations of the Company under this Indenture pursuant to Article 11;

 

(c)  add
guarantees with respect to the Notes;

 

(d)  secure
the Notes;

 

(e)  add
to the covenants or Events of Default of the Company for the benefit of the Holders or surrender any right or power conferred upon the
Company under this Indenture;

 

(f)   make
any change that does not adversely affect the rights of any Holder in any material respect;

 

(g)  increase
the Conversion Rate as provided herein;

 

(h)  provide
for the acceptance of appointment by a successor trustee or facilitate the administration of the trusts under this Indenture by more than
one trustee;

 

(i)   irrevocably
elect a Settlement Method or a Specified Dollar Amount, or eliminate the Company’s ability to select a Settlement Method; provided,
however, that no such election or elimination will affect any Settlement Method theretofore elected (or deemed to be elected) with
respect to any Note pursuant to Section 14.02;

 

(j)   in
connection with any Merger Event, provide that the notes are convertible into Reference Property, subject to the provisions of Section
14.02, and make such related changes to the terms of the Notes to the extent expressly required by Section 14.07;

 

(k)  comply
with the rules of any applicable Depositary, including The Depository Trust Company, so long as such amendment does not materially and
adversely affect the rights of any Holder;

 

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(l)  provide
for the issuance of additional Notes in accordance with this Indenture; or

 

(m) comply
with any requirement of the Commission in connection with the qualification of this Indenture under the Trust Indenture Act to the extent
this Indenture is qualified thereunder.

 

Upon the written request of the Company, the Trustee
is hereby authorized to join with the Company in the execution of any such amendment or supplemental indenture and to make any further
appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to, but may in its discretion,
enter into any supplemental indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.

 

Any supplemental indenture authorized by the provisions
of this Section 10.01 may be executed by the Company and the Trustee without the consent of the Holders of any of the Notes at the
time outstanding, notwithstanding any of the provisions of Section 10.02.

 

Section 10.02.   Supplemental
Indentures with Consent of Holders. With the consent (evidenced as provided in Article 8)
of the Holders of at least a majority of the aggregate principal amount of the Notes then outstanding (determined in accordance with Article 8
and including, without limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Notes), the
Company and the Trustee, at the Company’s expense, may from time to time and at any time enter into an indenture or indentures supplemental
hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture, the
Notes or any supplemental indenture or of modifying in any manner the rights of the Holders; provided, however,
that, without the consent of each Holder of an outstanding Note affected, no such supplemental indenture shall:

 

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

 

(b)  reduce
the rate of or extend the stated time for payment of interest on any Note;

 

(c)  reduce
the principal of, reduce the premium payable upon conversion or redemption of a Note or extend the Maturity Date of any Note;

 

(d)  make
any change that adversely affects the conversion rights of any Notes;

 

(e)  reduce
the Redemption Price or the Fundamental Change Repurchase Price of any Note or amend or modify in any manner adverse to the Holders the
Company’s obligation to make such payments, whether through an amendment or waiver of provisions in the covenants, definitions or
otherwise;

 

(f)   make
any Note payable in a currency, or at a place of payment, other than that stated in the Note;

 

(g)  change
the ranking of the Notes;

 

(h)  impair
the right of any Holder to receive payment of principal and interest on such Holder’s Note on or after the due dates therefor or
to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes; or

 

(i)   make
any change in this Article 10 that requires each Holder’s consent or in the waiver provisions in Section 6.02 or Section
6.09.

 

Upon the written request of the Company, and upon
the filing with the Trustee of evidence of the consent of requisite Holders as aforesaid and subject to Section 10.05, the Trustee
shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be
obligated to, enter into such supplemental indenture.

 

Holders do not need under this Section
10.02 to approve the particular form of any proposed supplemental indenture. It shall be sufficient if such Holders approve the
substance thereof. After any such supplemental indenture becomes effective, the Company shall deliver to the Holders a notice (with
a copy to the Trustee) briefly describing such supplemental indenture. However, the failure to give such notice to all the Holders
(with a copy to the Trustee), or any defect in the notice, will not impair or affect the validity of the supplemental indenture.

 

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Section 10.03.   Effect
of Supplemental Indentures. Upon the execution of any supplemental indenture pursuant
to the provisions of this Article 10, this Indenture shall be and be deemed to be modified and amended in accordance therewith and
the respective rights, limitation of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the
Holders shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments
and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this
Indenture for any and all purposes.

 

Section 10.04.   Notation
on Notes. Notes authenticated and delivered after the execution of any supplemental
indenture pursuant to the provisions of this Article 10 may, at the Company’s expense, bear a notation in form approved by
the Trustee as to any matter provided for in such supplemental indenture. If the Company or the Trustee shall so determine, new Notes
so modified as to conform, in the opinion of the Trustee and the Company, to any modification of this Indenture contained in any such
supplemental indenture may, at the Company’s expense, be prepared and executed by the Company, authenticated by the Trustee (or
an authenticating agent duly appointed by the Trustee pursuant to Section 18.10) and delivered in exchange for the Notes then outstanding,
upon surrender of such Notes then outstanding.

 

Section 10.05.   Evidence
of Compliance of Supplemental Indenture to Be Furnished Trustee. In addition to the
documents required by Section 18.05, the Trustee shall receive an Officer’s Certificate and an Opinion of Counsel as conclusive
evidence that any supplemental indenture executed pursuant hereto complies with the requirements of this Article 10 and is permitted
or authorized by this Indenture; such Opinion of Counsel shall include a customary legal opinion stating that such supplemental indenture
is the valid and binding obligation of the Company, subject to customary exceptions and qualifications. The Trustee shall have no responsibility
for determining whether any amendment or supplemental indenture will or may have an adverse effect on any Holder.

 

ARTICLE
11

Consolidation, Merger, Sale, Conveyance and Lease

 

Section 11.01.   Company
May Consolidate, Etc. on Certain Terms. Subject to the provisions of Section
11.02, the Company shall not consolidate with, merge with or into, or sell, convey, transfer or lease all or substantially all of the
consolidated assets of the Company and its consolidated subsidiaries, taken as a whole, to another Person unless:

 

(a)  the
resulting, surviving or transferee Person (the “Successor Company”), if not the Company, shall be a corporation organized
and existing under the laws of the United States of America, any State thereof or the District of Columbia, and the Successor Company
(if not the Company) shall expressly assume, by supplemental indenture all of the obligations of the Company under the Notes and this
Indenture;

 

(b)  immediately
after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing under this Indenture;

 

(c)  if,
upon the occurrence of any such transaction, (x) the Notes would become convertible into securities issued by an issuer other than the
resulting, surviving, transferee or successor corporation, and (y) such resulting, surviving, transferee or successor corporation is a
Wholly Owned Subsidiary of the issuer of such securities into which the Notes have become convertible, such other issuer shall fully and
unconditionally guarantee on a senior basis the resulting, surviving, transferee or successor corporation’s obligations under the
Notes; and

 

(d)  each
Guarantor, unless such Guarantor is the Person with which the Company has entered into a transaction under this Section 11.01, will have
confirmed in writing that its Guarantee will continue to apply to the Obligations of the Company or the surviving entity in accordance
with the Notes and this Indenture.

 

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For purposes of this Section 11.01, the
sale, conveyance, transfer or lease of all or substantially all of the properties and assets of one or more Subsidiaries of the
Company to another Person, which properties and assets, if held by the Company instead of such Subsidiaries, would constitute all or
substantially all of the properties and assets of the Company on a consolidated basis, shall be deemed to be the sale, conveyance,
transfer or lease of all or substantially all of the properties and assets of the Company to another Person. Notwithstanding the
foregoing, this Article 11 shall not apply to any sale, conveyance, transfer or lease of assets between or among the Company
and its direct or indirect Wholly Owned Subsidiaries and, in such an event, the Company shall not be discharged from its obligations
under the Notes and this Indenture.

 

Section 11.02.   Successor
Corporation to Be Substituted. In case of any such consolidation, merger, sale, conveyance,
transfer or lease and upon the assumption by the Successor Company, by supplemental indenture, executed and delivered to the Trustee and
satisfactory in form to the Trustee, of the due and punctual payment of the principal of and accrued and unpaid interest on all of the
Notes, the due and punctual delivery or payment, as the case may be, of any consideration due upon conversion of the Notes and the due
and punctual performance of all of the covenants and conditions of this Indenture to be performed by the Company, such Successor Company
(if not the Company) shall succeed to and, except in the case of a lease of all or substantially all of the Company’s properties
and assets, shall be substituted for the Company, with the same effect as if it had been named herein as the party of the first part,
and may thereafter exercise every right and power of the Company under this Indenture. Such Successor Company thereupon may cause to be
signed, and may issue either in its own name or in the name of the Company any or all of the Notes issuable hereunder which theretofore
shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such Successor Company instead of the Company
and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver,
or cause to be authenticated and delivered, any Notes that previously shall have been signed and delivered by the Officers of the Company
to the Trustee for authentication, and any Notes that such Successor Company thereafter shall cause to be signed and delivered to the
Trustee for that purpose. All the Notes so issued shall in all respects have the same legal rank and benefit under this Indenture as the
Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes had been issued at the
date of the execution hereof. In the event of any such consolidation, merger, sale, conveyance or transfer (but not in the case of a lease),
upon compliance with this Article 11 the Person named as the “Company” in the first paragraph of this Indenture (or any
successor that shall thereafter have become such in the manner prescribed in this Article 11) may be dissolved, wound up and liquidated
at any time thereafter and, except in the case of a lease, such Person shall be released from its liabilities as obligor and maker of
the Notes and from its obligations under this Indenture and the Notes.

 

In case of any such consolidation, merger, sale,
conveyance, transfer or lease, such changes in phraseology and form (but not in substance) may be made in the Notes thereafter to be issued
as may be appropriate.

 

ARTICLE
12

Immunity of Incorporators, Stockholders, Officers and Directors

 

Section 12.01.   Indenture
and Notes Solely Corporate Obligations. No recourse for the payment of the principal
of or accrued and unpaid interest on any Note, nor for any claim based thereon or otherwise in respect thereof, and no recourse under
or upon any obligation, covenant or agreement of the Company in this Indenture or in any supplemental indenture or in any Note, nor because
of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, employee, agent, Officer
or director or Subsidiary, as such, past, present or future, of the Company or of any successor corporation, either directly or through
the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any
assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a
condition of, and as a consideration for, the execution of this Indenture and the issue of the Notes.

 

ARTICLE
13

[Reserved]

 

ARTICLE
14

Conversion of Notes

 

Section
14.01.   Conversion Privilege. Subject
to and upon compliance with the provisions of this Article 14, each Holder of a Note shall have the right, at such
Holder’s option, to convert all or any portion (if the portion to be converted is $1,000 principal amount or an integral
multiple of $1.00 in excess thereof) of such Note at any time prior to the close of business on the second Scheduled Trading Day
immediately preceding the Maturity Date at an initial conversion rate of [●]8 shares of Common Stock
(subject to adjustment as provided in this Article 14, the “Conversion Rate”) per $1,000 principal amount of
Notes (subject to, and in accordance with, the settlement provisions of Section 14.02, the “Conversion
Obligation”). Any conversion of Notes and any calculation or adjustment in connection with any conversion (including, for
the avoidance of doubt, any Specified Dollar Amount), in excess of $1,000 will be calculated and converted on a proportional
basis.

 

 

	8	NTD: The initial conversion price will be a 15% premium to
$10 per share of Common Stock.

 

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Section 14.02.   Conversion
Procedure; Settlement Upon Conversion. (a)

 

(i)   Subject
to this Section 14.02, Section 14.03(b) and Section 14.07(a), upon conversion of any Note, the Company shall satisfy its Conversion
Obligation by paying or delivering, as the case may be, to the converting Holder, in respect of each $1,000 principal amount of Notes
being converted, cash (“Cash Settlement”), shares of Common Stock, together with cash, if applicable, in lieu of delivering
any fractional share of Common Stock in accordance with subsection (j) of this Section 14.02 (“Physical Settlement”)
or a combination of cash and shares of Common Stock, together with cash, if applicable, in lieu of delivering any fractional share of
Common Stock in accordance with subsection (j) of this Section 14.02 (“Combination Settlement”), at
the Company’s election, as set forth in this Section 14.02. All conversions for which the relevant Conversion Date occurs during
a Redemption Period, and all conversions for which the relevant Conversion Date occurs on or after [to be the 32nd day
prior to Maturity] prior to the Maturity Date, shall be settled using the same Settlement Method and in the same proportions of cash and/or
shares of Common Stock during the respective periods.

 

(ii)  Except
for any conversions for which the relevant Conversion Date occurs during a Redemption Period, the Company shall use the same Settlement
Method for all conversions with the same Conversion Date and in the same proportions of cash and/or shares of Common Stock during the
respective periods, but the Company shall not have any obligation to use the same Settlement Method with respect to conversions with different
Conversion Dates.

 

(iii) If,
in respect of any Conversion Date (or any conversions for which the relevant Conversion Date occurs during a Redemption Period), the Company
elects to deliver a notice (the “Settlement Notice”) of the relevant Settlement Method in respect of such Conversion
Date (or such period, as the case may be), the Company shall deliver such Settlement Notice to converting Holders, the Trustee and the
Conversion Agent (if other than the Trustee), no later than the close of business on the Trading Day immediately following the relevant
Conversion Date (or, in the case of any conversions for which the relevant Conversion Date occurs during a Redemption Period, in the applicable
Notice of Redemption) (the “Settlement Method Election Date”). If the Company does not elect a Settlement Method as
set forth in the immediately preceding sentence, the Company shall be deemed to have elected the Default Settlement Method in respect
of its Conversion Obligation and the Specified Dollar Amount per $1,000 principal amount of Notes shall be equal to $1,000. Such Settlement
Notice shall specify the relevant Settlement Method and in the case of an election of Combination Settlement, the relevant Settlement
Notice shall indicate the Specified Dollar Amount per $1,000 principal amount of Notes. If the Company timely delivers a Settlement Notice
electing Combination Settlement in respect of its Conversion Obligation but does not indicate a Specified Dollar Amount per $1,000 principal
amount of Notes to be converted in such Settlement Notice, the Specified Dollar Amount per $1,000 principal amount of Notes shall be deemed
to be $1,000. For the avoidance of doubt, the Company’s failure to timely elect a Settlement Method or specify the applicable Specified
Dollar Amount will not constitute a Default or Event of Default under this Indenture.

 

(iv)  The
cash, shares of Common Stock or combination of cash and shares of Common Stock in respect of any conversion of Notes (the “Settlement
Amount”) shall be computed as follows:

 

(A)  if
the Company elects (or is deemed to have elected) to satisfy its Conversion Obligation in respect of such conversion by Physical Settlement,
the Company shall deliver to the converting Holder in respect of each $1,000 principal amount of Notes being converted a number of shares
of Common Stock equal to the Conversion Rate in effect on the Conversion Date;

 

(B) if the Company elects
to satisfy its Conversion Obligation in respect of such conversion by Cash Settlement, the Company shall pay to the converting Holder
in respect of each $1,000 principal amount of Notes being converted cash in an amount equal to the sum of the Daily Conversion Values
for each of the 30 consecutive Trading Days during the related Observation Period; and

 

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(C)  if
the Company elects (or is deemed to have elected) to satisfy its Conversion Obligation in respect of such conversion by Combination Settlement,
the Company shall pay or deliver, as the case may be, to the converting Holder in respect of each $1,000 principal amount of Notes being
converted, a Settlement Amount equal to the sum of the Daily Settlement Amounts for each of the 30 consecutive Trading Days during the
related Observation Period.

 

(v)  The
Daily Settlement Amounts (if applicable) and the Daily Conversion Values (if applicable) shall be determined by the Company promptly following
the last day of the Observation Period. Promptly after such determination of the Daily Settlement Amounts or the Daily Conversion Values,
as the case may be, and the amount of cash payable in lieu of delivering any fractional share of Common Stock, the Company shall notify
the Trustee and the Conversion Agent (if other than the Trustee) of the Daily Settlement Amounts or the Daily Conversion Values, as the
case may be, and the amount of cash payable in lieu of delivering fractional shares of Common Stock. The Trustee and the Conversion Agent
(if other than the Trustee) shall have no responsibility for any such determination.

 

(b)  Subject
to Section 14.02(e), before any Holder of a Note shall be entitled to convert a Note as set forth above, such Holder shall (i) in
the case of a Global Note, comply with the applicable procedures of the Depositary in effect at that time and, if required, pay funds
equal to interest payable on the next Interest Payment Date to which such Holder is not entitled as set forth in Section 14.02(h)
and (ii) in the case of a Physical Note (1) complete, manually sign and deliver an irrevocable notice to the Conversion Agent as set forth
in the Form of Notice of Conversion (or a facsimile, PDF or other electronic transmission thereof) (a notice pursuant to the applicable
procedure of the Depositary or a notice as set forth in the Form of Notice of Conversion, a “Notice of Conversion”)
at the office of the Conversion Agent and state in writing therein the principal amount of Notes to be converted and the name or names
(with addresses) in which such Holder wishes the certificate or certificates for any shares of Common Stock to be delivered upon settlement
of the Conversion Obligation to be registered, (2) surrender such Notes, duly endorsed to the Company or in blank (and accompanied by
appropriate endorsement and transfer documents in a form reasonably satisfactory to the Conversion Agent), at the office of the Conversion
Agent, (3) if required, furnish appropriate endorsements and transfer documents in a form reasonably satisfactory to the Conversion Agent
and (4) if required, pay funds equal to interest payable on the next Interest Payment Date to which such Holder is not entitled as set
forth in Section 14.02(h). The Trustee (and if different, the Conversion Agent) shall notify the Company of any conversion pursuant
to this Article 14 on the Conversion Date for such conversion. No Notes may be surrendered for conversion by a Holder thereof if
such Holder has also delivered a Fundamental Change Repurchase Notice to the Company in respect of such Notes and has not validly withdrawn
such Fundamental Change Repurchase Notice in accordance with Section 15.03.

 

If more than one Note shall be surrendered for conversion
at one time by the same Holder, the Conversion Obligation with respect to such Notes shall be computed on the basis of the aggregate principal
amount of the Notes (or specified portions thereof to the extent permitted thereby) so surrendered.

 

(c)  A
Note shall be deemed to have been converted immediately prior to the close of business on the date (the “Conversion Date”)
that the Holder has complied with the requirements set forth in subsection (b) above. Except as set forth in Section 14.03(b)
and Section 14.07(a), the Company shall pay or deliver, as the case may be, the consideration due in respect of the Conversion Obligation
on the second Business Day immediately following the relevant Conversion Date, if the Company elects to satisfy its Conversion Obligation
through Physical Settlement (provided that, with respect to any Conversion Date following the Regular Record Date immediately
preceding the Maturity Date where Physical Settlement applies to the related conversion, the Company will settle any such conversion on
the Maturity Date), or on the second Business Day immediately following the last Trading Day of the Observation Period, in the case of
any other Settlement Method. If any shares of Common Stock are due to a converting Holder, the Company shall issue or cause to be issued,
and deliver (if applicable) to the converting Holder, or such Holder’s nominee or nominees, the full number of shares of Common
Stock to which such Holder shall be entitled, in book-entry format through the Depositary, in satisfaction of the Company’s Conversion
Obligation.

 

(d)  In
case any Note shall be surrendered for partial conversion, the Company shall execute and the Trustee shall authenticate and deliver
to or upon the written order of the Holder of the Note so surrendered a new Note or Notes in authorized denominations in an
aggregate principal amount equal to the unconverted portion of the surrendered Note, without payment of any service charge by the
converting Holder but, if required by the Company or Trustee, with payment of a sum sufficient to cover any documentary, stamp or
similar issue or transfer tax or similar governmental charge required by law or that may be imposed in connection therewith as a
result of the name of the Holder of the new Notes issued upon such conversion being different from the name of the Holder of the old
Notes surrendered for such conversion.

 

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(e)  If
a Holder submits a Note for conversion, the Company shall pay any documentary, stamp or similar issue or transfer tax due on the issue
of any shares of Common Stock upon conversion, unless the tax is due because the Holder requests such shares to be issued in a name other
than the Holder’s name, in which case the Holder shall pay that tax. The Conversion Agent may refuse to deliver the certificates
representing the shares of Common Stock being issued in a name other than the Holder’s name until the Trustee receives a sum sufficient
to pay any tax that is due by such Holder in accordance with the immediately preceding sentence.

 

(f)   Except
as provided in Section 14.04, no adjustment shall be made for dividends on any shares of Common Stock issued upon the conversion of any
Note as provided in this Article 14.

 

(g)  Upon
the conversion of an interest in a Global Note, the Trustee, or the Custodian at the direction of the Trustee, shall make a notation on
such Global Note as to the reduction in the principal amount represented thereby. The Company shall notify the Trustee in writing of any
conversion of Notes effected through any Conversion Agent other than the Trustee.

 

(h)  Upon
conversion, a Holder shall not receive any separate cash payment for accrued and unpaid interest, if any, except as set forth in this Section
14.02(h), and the Company will not adjust the Conversion Rate for any accrued and unpaid interest on any converted Notes. The Company’s
settlement of the full Conversion Obligation shall be deemed to satisfy in full its obligation to pay the principal amount of the Note
and accrued and unpaid interest, if any, to, but not including, the relevant Conversion Date. As a result, accrued and unpaid interest,
if any, to, but not including, the relevant Conversion Date shall be deemed to be paid in full rather than cancelled, extinguished or
forfeited. Upon a conversion of Notes into a combination of cash and shares of Common Stock, accrued and unpaid interest will be deemed
to be paid first out of the cash paid upon such conversion. Notwithstanding the foregoing, if Notes are converted after the close of business
on a Regular Record Date and prior to the open of business on the corresponding Interest Payment Date, Holders of such Notes as of the
close of business on such Regular Record Date will receive the full amount of interest payable on such Notes (to, but not including the
corresponding Interest Payment Date) on the corresponding Interest Payment Date notwithstanding the conversion. Notes surrendered for
conversion during the period from the close of business on any Regular Record Date to the open of business on the immediately following
Interest Payment Date must be accompanied by funds equal to the amount of interest payable on the Notes so converted on the corresponding
Interest Payment Date (regardless of whether the converting Holder was the Holder of record on such Regular Record Date); provided that
no such payment shall be required (1) for conversions following the Regular Record Date immediately preceding the Maturity Date; (2) if
the Company has specified a Redemption Date that is after a Regular Record Date and on or prior to the Scheduled Trading Day immediately
following the corresponding Interest Payment Date; (3) if the Company has specified a Fundamental Change Repurchase Date or a Mandatory
Conversion Date that is after a Regular Record Date and on or prior to the Business Day immediately following the corresponding Interest
Payment Date; or (4) to the extent of any Defaulted Amounts, if any Defaulted Amounts exist at the time of conversion with respect to
such Note. Therefore, for the avoidance of doubt, all Holders of record at the close of business on the Regular Record Date immediately
preceding the Maturity Date, any Redemption Date described in clause (2) of the immediately preceding sentence and any Fundamental Change
Repurchase Date described in clause (3) of the immediately preceding sentence shall receive and retain the full interest payment due on
the Maturity Date or other applicable Interest Payment Date in cash regardless of whether their Notes have been converted following such
Regular Record Date.

 

(i)  The
Person in whose name the shares of Common Stock shall be issuable upon conversion shall be treated as a stockholder of record as of the
close of business on the relevant Conversion Date (if the Company elects to satisfy the related Conversion Obligation by Physical Settlement)
or the last Trading Day of the relevant Observation Period (if the Company elects to satisfy the related Conversion Obligation by Combination
Settlement), as the case may be. Upon a conversion of Notes, such Person shall no longer be a Holder of such Notes surrendered for conversion.
Prior to conversion of a Holder’s Note, such Holder (in such capacity) shall not have any rights as a stockholder of the Company.

 

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(j)  The
Company shall not issue any fractional share of Common Stock upon conversion of the Notes and shall instead pay cash in lieu of delivering
any fractional share of Common Stock issuable upon conversion based on the Daily VWAP for the relevant Conversion Date (or, if such Conversion
Date is not a Trading Day, the immediately preceding Trading Day), in the case of Physical Settlement, or based on the Daily VWAP for
the last Trading Day of the relevant Observation Period, in the case of Combination Settlement. For each Note surrendered for conversion,
if the Company has elected (or is deemed to have elected) Combination Settlement, the full number of shares that shall be issued upon
conversion thereof shall be computed on the basis of the aggregate Daily Settlement Amounts for the relevant Observation Period and any
fractional shares remaining after such computation shall be paid in cash.

 

Section 14.03.   Company’s
Mandatory Conversion Option.

 

(a)  On
or after [●], 20239 and prior to the close of business on [●], 202610, the Company may, at its option,
elect to convert the original principal amount of the Notes in whole but not in part (a “Mandatory Conversion”) if
(x) the Last Reported Sale Price of the Common Stock for at least 20 Trading Days (whether or not consecutive) during the period of 30
consecutive Trading Days ending on, and including, the last Trading Day of the immediately preceding calendar quarter (the “Mandatory
Conversion Determination Date”) is greater than or equal to 130% of the Conversion Price on each applicable Trading Day and
(y) the 30-Day ADTV ending on, and including, the Mandatory Conversion Determination Date is greater than or equal to $2,000,000 (the
“Mandatory Conversion Condition”).

 

(b)  To
exercise its right to a Mandatory Conversion, the Company will send notice of the Company’s election (a “Mandatory Conversion
Notice”) to Holders, the Trustee and the Conversion Agent no later than the fifth Business Day following the Mandatory Conversion
Determination Date.

 

Such Mandatory Conversion Notice must state:

 

(i)   that
the Notes have been called for Mandatory Conversion, briefly describing the Mandatory Conversion under this Indenture;

 

(ii)  the
Mandatory Conversion Date;

 

(iii)  the
current Conversion Rate;

 

(iv)  the
name and address of the Paying Agent and the Conversion Agent;

 

(v)  the
Settlement Method, which shall apply in the same proportions of cash and/or shares of Common Stock to all Holders; and

 

(vi)  the
CUSIP and ISIN numbers, if any, of the Notes.

 

(c)  If
the Company exercises its right to effect a Mandatory Conversion in accordance with this Section 14.03, then a Conversion Date will automatically,
and without the need for any action on the part of any Holder, the Trustee or the Conversion Agent, be deemed to occur, with respect to
each Note then outstanding, on the Mandatory Conversion Date. The Mandatory Conversion Date will be a Business Day of the Company’s
choosing that is no more than 30, nor less than 10, Business Days after the Company sends the Mandatory Conversion Notice; provided that
the Mandatory Conversion Date shall be no later than the second Scheduled Trading Day prior to the Maturity Date. The Company shall pay
or deliver, as the case may be, the consideration due in respect of the Conversion Obligation on the second Business Day immediately following
the Mandatory Conversion Date or the related Observation Period.

 

(d)  The
Conversion Rate in connection with a Mandatory Conversion shall be increased by a number of Additional Shares per $1,000 principal amount
of Notes assuming the Notes had been converted pursuant to Section 14.04.

 

 

	9	NTD: To be the date that is one day after the first anniversary
of the issuance date.

	10	NTD: To be the two Business Days before the Maturity Date.

 

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(e)   Each
share of Common Stock delivered upon a Mandatory Conversion of any Note will be a newly issued or treasury share and will be duly and
validly issued, fully paid, non-assessable, free from preemptive rights and free of any lien or adverse claim. If the Common Stock is
then listed on any securities exchange and has been registered on an effective registration statement with the Commission, then the Company
will cause each share of Common Stock, when delivered upon a Mandatory Conversion of any Note, to be admitted for listing on such exchange.
Notwithstanding anything herein to the contrary, the Company shall not be permitted to effect any Mandatory Conversion hereunder unless
as of such Mandatory Conversion Date no Equity Conditions Failure then exists.

 

Section 14.04.   Increased
Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes or during a Redemption Period.
(a)  If (i) the Effective Date of a Make-Whole Fundamental Change occurs prior to the Maturity Date and a Holder elects to convert
its Notes in connection with such Make-Whole Fundamental Change or (ii) the Company issues a Notice of Redemption as provided under Section
16.02 and a Holder elects to convert such Notes with a Conversion Date during the related Redemption Period, the Company shall, in each
case, under the circumstances described below, increase the Conversion Rate for the Notes so surrendered for conversion by a number of
additional shares of Common Stock (the “Additional Shares”), as described below. A conversion of Notes shall be deemed
for these purposes to be “in connection with” such Make-Whole Fundamental Change if the relevant Conversion Date occurs during
the period from, and including, the Effective Date of the Make-Whole Fundamental Change up to, and including, the close of business on
the Business Day immediately prior to the related Fundamental Change Repurchase Date (or, in the case of a Make-Whole Fundamental Change
that would have been a Fundamental Change but for the proviso in clause (b) of the definition thereof, the 35th Trading
Day immediately following the Effective Date of such Make-Whole Fundamental Change) (such period, the “Make-Whole Fundamental
Change Period”). For the avoidance of doubt, the Company shall not increase the Conversion Rate pursuant to the provisions of
this Section 14.03 on account of an anticipated Fundamental Change that does not occur. If the Company issues a Notice of Redemption
as set forth under Section 16.02 the Company shall increase the Conversion Rate during the related Redemption Period only with respect
to conversions of Notes called for redemption (or deemed called for redemption as contemplated by the penultimate sentence of Section
16.02(d)), and not for Notes not called for redemption. Accordingly, if the Company elects to redeem fewer than all of the outstanding
Notes as described under Section 16.05. Holders of the Notes not called for redemption will not be entitled to convert such Notes on account
of the Notice of Redemption and will not be entitled to an increased Conversion Rate for conversions of such Notes on account of the Notice
of Redemption during the related Redemption Period if such Notes are otherwise convertible, except in the limited circumstances set forth
in the penultimate sentence of Section 16.02(d).

 

(b)  Upon
surrender of Notes for conversion in connection with a Make-Whole Fundamental Change or of Notes called for redemption with a Conversion
Date occurring during the related Redemption Period, the Company shall, at its option, satisfy the related Conversion Obligation by Physical
Settlement, Cash Settlement or Combination Settlement based on the Conversion Rate as increased to reflect the additional shares pursuant
to the table set forth below, in accordance with Section 14.02; provided, however, that if, at the effective
time of a Make-Whole Fundamental Change described in clause (b) of the definition of Fundamental Change, the Reference Property following
such Make-Whole Fundamental Change is composed entirely of cash, for any conversion of Notes following the Effective Date of such Make-Whole
Fundamental Change, the Conversion Obligation shall be calculated based solely on the Stock Price for the transaction and shall be deemed
to be an amount of cash per $1,000 principal amount of converted Notes equal to the Conversion Rate (including any increase to reflect
the Additional Shares), multiplied by such Stock Price. In such event, the Conversion Obligation shall be determined
and paid to Holders in cash on the second Business Day following the Conversion Date. The Company shall notify the Holders, the Trustee
and the Conversion Agent (if other than the Trustee) of the Effective Date of any Make-Whole Fundamental Change in writing no
later than five Business Days after such Effective Date.

 

(c)   The
number of Additional Shares, if any, by which the Conversion Rate shall be increased for conversions in connection with a Make-Whole
Fundamental Change or a Notice of Redemption shall be determined by reference to the table below, based on the date on which the
Make-Whole Fundamental Change occurs or becomes effective (in each case, the “Effective Date”) or the Redemption
Notice Date, as applicable, and the price (the “Stock Price”) paid (or deemed to be paid) per share of the Common
Stock in the Make-Whole Fundamental Change or on the Redemption Notice Date, as applicable. If the holders of the Common Stock
receive in exchange for their Common Stock only cash in a Make-Whole Fundamental Change described in clause (b) of the
definition of Fundamental Change, the Stock Price shall be the cash amount paid per share. Otherwise, the Stock Price shall be the
average of the Last Reported Sale Prices of the Common Stock over the ten consecutive Trading Day period ending on, and including,
the Trading Day immediately preceding the applicable Effective Date of the Make-Whole Fundamental Change or the Redemption Notice
Date, as the case may be. In the event that a conversion during a Redemption Period would also be deemed to be in connection with a
Make-Whole Fundamental Change, a Holder of the Notes to be converted will be entitled to a single increase to the Conversion Rate
with respect to the first to occur of the applicable Redemption Notice Date or the Effective Date of the applicable Make-Whole
Fundamental Change, and the later event will be deemed not to have occurred for purposes of this Section 14.03.

 

    61

     

    

 

(d)  The
Stock Prices set forth in the column headings of the table below shall be adjusted as of any date on which the Conversion Rate of the
Notes is otherwise adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied
by a fraction, the numerator of which is the Conversion Rate immediately prior to such adjustment giving rise to the Stock Price
adjustment and the denominator of which is the Conversion Rate as so adjusted. The number of Additional Shares set forth in the table
below shall be adjusted in the same manner and at the same time as the Conversion Rate as set forth in Section 14.04.

 

(e)  The
following table sets forth the number of Additional Shares by which the Conversion Rate shall be increased per $1,000 principal amount
of Notes pursuant to this Section 14.03 for each Stock Price and Effective Date or Redemption Notice Date, as applicable, set forth
below:11

 

	Effective
Date/Redemption Notice Date	 	Stock
    Price12	 
	 	 	$10.00	 	 	$12.00	 	 	$14.00	 	 	$16.00	 	 	$18.00	 	 	$20.00	 	 	$25.00	 	 	$30.00	 	 	$40.00	 	 	$50.00	 
	[●], 2022	 	 	13.0430	 	 	 	     	 	 	 	       	 	 	 	      	 	 	 	        	 	 	 	       	 	 	 	      	 	 	 	       	 	 	 	       	 	 	 	    	 
	[●], 2023	 	 	13.0430	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	[●], 2024	 	 	13.0430	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	[●], 2025	 	 	13.0430	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	[●], 2026	 	 	13.0430	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

  

The exact Stock Prices and
Effective Dates or Redemption Notice Dates may not be set forth in the table above, in which case:

 

(i)   if
the Stock Price is between two Stock Prices in the table above or the Effective Date or Redemption Notice Date, as applicable, is between
two Effective Dates or Redemption Notice Dates, as applicable, in the table, the number of Additional Shares by which the Conversion Rate
shall be increased shall be determined by a straight-line interpolation between the number of Additional Shares set forth for the higher
and lower Stock Prices and the earlier and later Effective Dates or Redemption Notice Dates, as applicable, based on a 365- or 366-day
year, as applicable;

 

(ii)  if
the Stock Price is greater than $50.00 per share (subject to adjustment in the same manner as the Stock Prices set forth in the column
headings of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion Rate; and

 

(iii)  if
the Stock Price is less than $10.00 per share (subject to adjustment in the same manner as the Stock Prices set forth in the column headings
of the table above pursuant to subsection (d) above), no Additional Shares shall be added to the Conversion Rate.

 

Notwithstanding the foregoing, in no event shall
the Conversion Rate per $1,000 principal amount of Notes exceed [●] shares of Common Stock, subject to adjustment in the same manner
as the Conversion Rate pursuant to Section 14.04.

 

(f)   Nothing
in this Section 14.04 shall prevent an adjustment to the Conversion Rate that would otherwise be required pursuant to Section
14.04 in respect of a Make-Whole Fundamental Change.

 

 

	11	NTD: Table to be completed prior to issuance using customary
methodology with the assistance of a nationally recognized investment bank that has experience with convertible notes of this type.

	12	NTD: Bankers to confirm.

 

    62

     

    

 

Section 14.05.   Adjustment
of Conversion Rate. The Conversion Rate shall be adjusted from time to time by the
Company if any of the following events occurs, except that the Company shall not make any adjustments to the Conversion Rate if Holders
of the Notes participate (other than in the case of (x) a share split or share combination or (y) a tender or exchange offer), at the
same time and upon the same terms as holders of the Common Stock and solely as a result of holding the Notes, in any of the transactions
described in this Section 14.04, without having to convert their Notes, as if they held a number of shares of Common Stock equal
to the Conversion Rate, multiplied by the principal amount (expressed in thousands) of Notes held by such Holder. Neither
the Trustee nor the Conversion Agent shall have any responsibility to verify the accuracy of any adjustment to the Conversion Rate. The
Company shall notify the Holders, the Trustee and the Conversion Agent promptly in writing of any adjustments to the Conversion Rate,
which adjustments shall be conclusive and binding on holders, absent manifest error.

 

(a) If the Company exclusively issues shares of
Common Stock as a dividend or distribution on shares of the Common Stock to all or substantially all holders of the Common Stock, or
if the Company effects a share split or share combination, the Conversion Rate shall be adjusted based on the following formula:

 

	 	 	where,	 	 	 	 
	 	 	 	 	 	 	 
	 	 	CR0	 	=	 	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date of such dividend or distribution, or immediately prior to the open of business on the Effective Date of such share split or share combination, as applicable;
	 	 	 	 	 	 	 
	 	 	CR’	 	=	 	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date or Effective Date, as applicable;
	 	 	 	 	 	 	 
	 	 	OS0	 	=	 	the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date or Effective Date, as applicable; and
	 	 	 	 	 	 	 
	 	 	OS’	 	=	 	the number of shares of Common Stock outstanding immediately after giving effect to such dividend, distribution, share split or share combination, as applicable.

 

Any adjustment made under this Section 14.04(a) shall
become effective immediately after the open of business on the Ex-Dividend Date for such dividend or distribution, or immediately after
the open of business on the Effective Date for such share split or share combination, as applicable. If any dividend or distribution of
the type described in this Section 14.04(a) is declared but not so paid or made, the Conversion Rate shall be immediately readjusted,
effective as of the date the Company determines in good faith not to pay such dividend or distribution, to the Conversion Rate that would
then be in effect if such dividend or distribution had not been declared.

 

(b) If the Company issues to
all or substantially all holders of the Common Stock any rights, options or warrants (other than pursuant to a stockholders rights plan)
entitling them, for a period of not more than 45 calendar days after the announcement date of such issuance, to subscribe for or purchase
shares of the Common Stock at a price per share that is less than the average of the Last Reported Sale Prices of the Common Stock for
the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of such
issuance, the Conversion Rate shall be increased based on the following formula:

 

	 	 	where,	 	 	 	 
	 	 	 	 	 	 	 
	 	 	CR0	 	=	 	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such issuance;
	 	 	 	 	 	 	 
	 	 	CR’	 	=	 	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;
	 	 	 	 	 	 	 
	 	 	OS0	 	=	 	the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Dividend Date;

 

    63

     

    

 

	 	 	X	 	=	 	the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and
	 	 	 	 	 	 	 
	 	 	Y	 	=	 	the number of shares of Common Stock equal to the aggregate price payable to exercise such rights, options or warrants, divided by the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of the issuance of such rights, options or warrants.

 

Any increase made under this Section 14.04(a) shall
be made successively whenever any such rights, options or warrants are issued and shall become effective immediately after the open of
business on the Ex-Dividend Date for such issuance. To the extent that shares of the Common Stock are not delivered after the expiration
of such rights, options or warrants, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect had the
increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery of only the number of shares
of Common Stock actually delivered. If such rights, options or warrants are not so issued, or if no such rights, options or warrants are
exercised prior to their expiration, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such
Ex-Dividend Date for such issuance had not occurred.

 

For purposes of this Section 14.04(a) and
for the purpose of Section 14.01(b)(ii)(A), in determining whether any rights, options or warrants entitle the holders of the Common Stock
to subscribe for or purchase shares of the Common Stock at less than such average of the Last Reported Sale Prices of the Common Stock
for the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date of announcement of
such issuance, and in determining the aggregate offering price of such shares of Common Stock, there shall be taken into account any consideration
received by the Company for such rights, options or warrants and any amount payable on exercise or conversion thereof, the value of such
consideration, if other than cash, to be determined by the Company in good faith.

 

(c)  If
the Company distributes shares of its Capital Stock, evidences of its indebtedness, other assets or property of the Company or rights,
options or warrants to acquire its Capital Stock or other securities, to all or substantially all holders of the Common Stock, excluding
(i) dividends, distributions or issuances as to which an adjustment was effected (or would be effected, disregarding the 1% Provision)
pursuant to Section 14.04(a) or Section 14.04(b), (ii) rights issued under a stockholders rights plan (except as provided
in Section 14.11), (iii) dividends or distributions paid exclusively in cash as to which the provisions set forth in Section 14.04(d)
shall apply, (iv) distributions of Reference Property in exchange for, or upon conversion of, Common Stock in a Merger Event and (v) Spin-Offs
as to which the provisions set forth in this Section 14.04(c) shall apply (any of such shares of Capital Stock, evidences of
indebtedness, other assets or property or rights, options or warrants to acquire Capital Stock or other securities, the “Distributed
Property”), then the Conversion Rate shall be increased based on the following formula:

 

 

	 	 	where,	 	 	 	 
	 	 	 	 	 	 	 
	 	 	CR0	 	=	 	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such distribution;
	 	 	 	 	 	 	 
	 	 	CR’	 	=	 	the Conversion Rate in effect immediately after the open of business on such Ex-Dividend Date;
	 	 	 	 	 	 	 
	 	 	SP0	 	=	 	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and
	 	 	 	 	 	 	 
	 	 	FMV	 	=	 	the fair market value (as determined by the Company in good faith) of the Distributed Property with respect to each outstanding share of the Common Stock on the Ex-Dividend Date for such distribution.

  

    64

     

    

 

Any increase made under the portion of this Section
14.04(c) above shall become effective immediately after the open of business on the Ex-Dividend Date for such distribution. If such
distribution is not so paid or made, the Conversion Rate shall be decreased to the Conversion Rate that would then be in effect if such
distribution had not been declared. In the case of any distribution of rights, options or warrants, to the extent such rights, options
or warrants expire unexercised, the Conversion Rate shall be immediately readjusted to the Conversion Rate that would then be in effect
had such unexercised rights, options or warrants not been distributed. Notwithstanding the foregoing, if “FMV” (as defined
above) is equal to or greater than “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Note shall
receive, in respect of each $1,000 principal amount thereof, at the same time and upon the same terms as holders of the Common Stock receive
the Distributed Property, the amount and kind of Distributed Property such Holder would have received if such Holder owned a number of
shares of Common Stock equal to the Conversion Rate in effect on the Ex-Dividend Date for the distribution.

 

With respect to an adjustment pursuant to this Section
14.04(c) where there has been a payment of a dividend or other distribution on the Common Stock of shares of Capital Stock of any
class or series, or similar equity interest, of or relating to a Subsidiary, other business unit or Affiliate of the Company, that are,
or, when issued, will be, listed or admitted for trading on a U.S. national securities exchange (a “Spin-Off”), the
Conversion Rate shall be increased based on the following formula:

 

 

 

	 	 	where,	 	 	 	 
	 	 	 	 	 	 	 
	 	 	CR0	 	=	 	the Conversion Rate in effect immediately prior to the end of the Valuation Period;
	 	 	 	 	 	 	 
	 	 	CR’	 	=	 	the Conversion Rate in effect immediately after the end of the Valuation Period;
	 	 	 	 	 	 	 
	 	 	FMV0	 	=	 	the average of the Last Reported Sale Prices of the Capital Stock or similar equity interest distributed to holders of the Common Stock applicable to one share of the Common Stock (determined by reference to the definition of Last Reported Sale Price as set forth in Section 1.01 as if references therein to Common Stock were to such Capital Stock or similar equity interest) over the first 10 consecutive Trading Day period after, and including, the Ex-Dividend Date of the Spin-Off (the “Valuation Period”); and
	 	 	 	 	 	 	 
	 	 	MP0	 	=	 	the average of the Last Reported Sale Prices of the Common Stock over the Valuation Period.

 

The increase to the Conversion Rate under the preceding
paragraph shall occur at the close of business on the last Trading Day of the Valuation Period; provided that (x) in
respect of any conversion of Notes for which Physical Settlement is applicable, if the relevant Conversion Date occurs during the Valuation
Period, the reference to “10” in the preceding paragraph shall be deemed to be replaced with such lesser number of Trading
Days as have elapsed from, and including, the Ex-Dividend Date of such Spin-Off to, and including, the Conversion Date in determining
the Conversion Rate and (y) in respect of any conversion of Notes for which Cash Settlement or Combination Settlement is applicable, for
any Trading Day that falls within the relevant Observation Period for such conversion and within the Valuation Period, the reference to
“10” in the preceding paragraph shall be deemed to be replaced with such lesser number of Trading Days as have elapsed between
the Ex-Dividend Date of such Spin-Off and such Trading Day in determining the Conversion Rate as of such Trading Day.

 

If any dividend or distribution that constitutes
a spin-off is declared but not so paid or made, the Conversion Rate shall be immediately decreased, effective as of the date the Board
of Directors determines not to pay or make such dividend or distribution, to the Conversion Rate that would then be in effect if such
dividend or distribution had not been declared or announced.

 

    65

     

    

 

For purposes of this Section
14.04(c) (and subject in all respects to Section 14.11), rights, options or warrants distributed by the Company to all holders
of the Common Stock entitling them to subscribe for or purchase shares of the Company’s Capital Stock, including Common Stock
(either initially or under certain circumstances), which rights, options or warrants, until the occurrence of a specified event or
events (“Trigger Event”): (i) are deemed to be transferred with such shares of the Common Stock; (ii) are not
exercisable; and (iii) are also issued in respect of future issuances of the Common Stock, shall be deemed not to have been
distributed for purposes of this Section 14.04(c) (and no adjustment to the Conversion Rate under this Section
14.04(c) will be required) until the occurrence of the earliest Trigger Event, whereupon such rights, options or warrants shall
be deemed to have been distributed and an appropriate adjustment (if any is required) to the Conversion Rate shall be made under
this Section 14.04(c). If any such right, option or warrant, including any such existing rights, options or warrants
distributed prior to the date of this Indenture, are subject to events, upon the occurrence of which such rights, options or
warrants become exercisable to purchase different securities, evidences of indebtedness or other assets, then the date of the
occurrence of any and each such event shall be deemed to be the date of distribution and Ex-Dividend Date with respect to new
rights, options or warrants with such rights (in which case the existing rights, options or warrants shall be deemed to terminate
and expire on such date without exercise by any of the holders thereof). In addition, in the event of any distribution (or deemed
distribution) of rights, options or warrants, or any Trigger Event or other event (of the type described in the immediately
preceding sentence) with respect thereto that was counted for purposes of calculating a distribution amount for which an adjustment
to the Conversion Rate under this Section 14.04(c) was made, (1) in the case of any such rights, options or warrants that
shall all have been redeemed or purchased without exercise by any holders thereof, upon such final redemption or purchase (x) the
Conversion Rate shall be readjusted as if such rights, options or warrants had not been issued and (y) the Conversion Rate shall
then again be readjusted to give effect to such distribution, deemed distribution or Trigger Event, as the case may be, as though it
were a cash distribution, equal to the per share redemption or purchase price received by a holder or holders of Common Stock with
respect to such rights, options or warrants (assuming such holder had retained such rights, options or warrants), made to all
holders of Common Stock as of the date of such redemption or purchase, and (2) in the case of such rights, options or warrants that
shall have expired or been terminated without exercise by any holders thereof, the Conversion Rate shall be readjusted as if such
rights, options and warrants had not been issued.

 

For purposes of Section 14.04(a), Section
14.04(b) and this Section 14.04(c), if any dividend or distribution to which this Section 14.04(c) is applicable also
includes one or both of:

 

(A)  a
dividend or distribution of shares of Common Stock to which Section 14.04(a) is applicable (the “Clause A Distribution”);
or

 

(B)  a
dividend or distribution of rights, options or warrants to which Section 14.04(b) is applicable (the “Clause B
Distribution”), then, in either case, (1) such dividend or distribution, other than the Clause A Distribution and the
Clause B Distribution, shall be deemed to be a dividend or distribution to which this Section 14.04(c) is applicable (the
“Clause C Distribution”) and any Conversion Rate adjustment required by this Section 14.04(c) with
respect to such Clause C Distribution shall then be made, and (2) the Clause A Distribution and Clause B Distribution shall be
deemed to immediately follow the Clause C Distribution and any Conversion Rate adjustment required by Section
14.04(a) and Section 14.04(b) with respect thereto shall then be made, except that, if determined by the Company (I)
the “Ex-Dividend Date” of the Clause A Distribution and the Clause B Distribution shall be deemed to be the Ex-Dividend
Date of the Clause C Distribution and (II) any shares of Common Stock included in the Clause A Distribution or Clause B Distribution
shall be deemed not to be “outstanding immediately prior to the open of business on such Ex-Dividend Date or Effective
Date” within the meaning of Section 14.04(a) or “outstanding immediately prior to the open of business on such
Ex-Dividend Date” within the meaning of Section 14.04(b).

 

(d)  If
any cash dividend or distribution is made to all or substantially all holders of the Common Stock, the Conversion Rate shall be increased
based on the following formula:

 

 

 

    66

     

    

 

	 	 	where,	 	 	 	 
	 	 	 	 	 	 	 
	 	 	CR0	 	=	 	the Conversion Rate in effect immediately prior to the open of business on the Ex-Dividend Date for such dividend or distribution;
	 	 	 	 	 	 	 
	 	 	CR’	 	=	 	the Conversion Rate in effect immediately after the open of business on the Ex-Dividend Date for such dividend or distribution;
	 	 	 	 	 	 	 
	 	 	SP0	 	=	 	the Last Reported Sale Price of the Common Stock on the Trading Day immediately preceding the Ex-Dividend Date for such dividend or distribution; and
	 	 	 	 	 	 	 
	 	 	C	 	=	 	the amount in cash per share the Company distributes to all or substantially all holders of the Common Stock.

 

Any increase pursuant to this Section 14.04(d) shall
become effective immediately after the open of business on the Ex-Dividend Date for such dividend or distribution. If such dividend or
distribution is not so paid, the Conversion Rate shall be decreased, effective as of the date the Company determines in good faith not
to make or pay such dividend or distribution, to be the Conversion Rate that would then be in effect if such dividend or distribution
had not been declared. Notwithstanding the foregoing, if “C” (as defined above) is equal to or greater than “SP0”
(as defined above), in lieu of the foregoing increase, each Holder of a Note shall receive, for each $1,000 principal amount of Notes
it holds, at the same time and upon the same terms as holders of shares of the Common Stock, the amount of cash that such Holder would
have received if such Holder owned a number of shares of Common Stock equal to the Conversion Rate on the Ex-Dividend Date for such cash
dividend or distribution.

 

(e)  If
the Company or any of its Subsidiaries make a payment in respect of a tender or exchange offer for the Common Stock that is subject to
the then applicable tender offer rules under the Exchange Act (other than any odd-lot tender offer), to the extent that the cash and value
of any other consideration included in the payment per share of the Common Stock exceeds the average of the Last Reported Sale Prices
of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the last
date on which tenders or exchanges may be made pursuant to such tender or exchange offer, the Conversion Rate shall be increased based
on the following formula:

 

 

 

	 	 	where,	 	 	 	 
	 	 	 	 	 	 	 
	 	 	CR0	 	=	 	the Conversion Rate in effect immediately prior to the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires;
	 	 	 	 	 	 	 
	 	 	CR’	 	=	 	the Conversion Rate in effect immediately after the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the date such tender or exchange offer expires;
	 	 	 	 	 	 	 
	 	 	AC	 	=	 	the aggregate value of all cash and any other consideration (as determined by the Company in good faith) paid or payable for shares of Common Stock purchased in such tender or exchange offer;
	 	 	 	 	 	 	 
	 	 	OS0	 	=	 	the number of shares of Common Stock outstanding immediately prior to the date such tender or exchange offer expires (prior to giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer);
	 	 	 	 	 	 	 
	 	 	OS’	 	=	 	the number of shares of Common Stock outstanding immediately after the date such tender or exchange offer expires (after giving effect to the purchase of all shares of Common Stock accepted for purchase or exchange in such tender or exchange offer); and
	 	 	 	 	 	 	 
	 	 	SP’	 	=	 	the average of the Last Reported Sale Prices of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the date such tender or exchange offer expires.

 

    67

     

    

 

The increase to the Conversion Rate under this Section
14.04(e) shall occur at the close of business on the 10th Trading Day immediately following, and including, the Trading
Day next succeeding the date such tender or exchange offer expires; provided that (x) in respect of any conversion of
Notes for which Physical Settlement is applicable, if the relevant Conversion Date occurs during the 10 Trading Days immediately following,
and including, the Trading Day next succeeding the expiration date of any tender or exchange offer, references to “10” or
“10th” in the preceding paragraph shall be deemed replaced with such lesser number of Trading Days as have elapsed
from, and including, the Trading Day next succeeding the date that such tender or exchange offer expires to, and including, the Conversion
Date in determining the Conversion Rate and (y) in respect of any conversion of Notes for which Cash Settlement or Combination Settlement
is applicable, for any Trading Day that falls within the relevant Observation Period for such conversion and within the 10 Trading Days
immediately following, and including, the Trading Day next succeeding the expiration date of any tender or exchange offer, references
to “10” or “10th” in the preceding paragraph shall be deemed replaced with such lesser number of Trading
Days as have elapsed from, and including, the Trading Day next succeeding the expiration date of such tender or exchange offer to, and
including, such Trading Day in determining the Conversion Rate as of such Trading Day.

 

If the Company or one of its Subsidiaries is obligated
to purchase shares of Common Stock pursuant to any such tender or exchange offer described in this Section 14.04(e) but the
Company or such Subsidiary is permanently prevented by applicable law from effecting any such purchase or all such purchases are rescinded,
the Conversion Rate shall be readjusted to be the Conversion Rate that would then be in effect if such tender or exchange offer had not
been made or had been made only in respect of the purchases that have been made.

 

(f)     Notwithstanding
this Section 14.04 or any other provision of this Indenture or the Notes, if: (i) a Conversion Rate adjustment for any dividend
or distribution becomes effective on any Ex-Dividend Date as described in this Section 14.04; (ii) a Note is to be converted for
which the conversion consideration includes shares of Common Stock; (iii) any Trading Day in the Observation Period for such conversion
occurs on or after such Ex-Dividend Date and on or before the related Record Date; (iv) the consideration due upon such conversion includes
any whole shares of Common Stock based on a Conversion Rate that is adjusted for such dividend or distribution; and (v) the Holder would
be entitled to participate in such dividend or distribution on account of such shares, then, notwithstanding anything to the contrary:
the Conversion Rate adjustment relating to such Ex-Dividend Date shall be made for such conversion in respect of such Trading Day, but
the shares of Common Stock issuable with respect to such Trading Day based on such adjusted conversion rate shall not be entitled to participate
in such dividend or distribution.

 

(g)    If
a Holder has converted its Notes on or after such Ex-Dividend Date and on or prior to the related Record Date would become the record
holder of the shares of Common Stock as of the related Conversion Date as described under Section 14.02(i) based on an adjusted
Conversion Rate for such Ex-Dividend Date, then, notwithstanding the Conversion Rate adjustment provisions in this Section 14.04,
the Conversion Rate adjustment relating to such Ex-Dividend Date shall not be made for such converting Holder. Instead, such Holder shall
be treated as if such Holder were the record owner of the shares of Common Stock on an unadjusted basis and participate in the related
dividend, distribution or other event giving rise to such adjustment.

 

(h)    Except
as stated herein, the Company shall not adjust the Conversion Rate for the issuance of shares of the Common Stock or any securities convertible
into or exchangeable for shares of the Common Stock or the right to purchase shares of the Common Stock or such convertible or exchangeable
securities.

 

(i)     In
addition to those adjustments required by clauses (a), (b), (c), (d) and (e) of this Section 14.04,
and to the extent permitted by applicable law and subject to the applicable rules of any exchange on which any of the Company’s
securities are then-listed, the Company from time to time may increase the Conversion Rate by any amount for a period of at least 20 Business
Days if the Company determines, in good faith, that such increase would be in the Company’s best interest. In addition, to the extent
permitted by applicable law and subject to the applicable rules of any exchange on which the Company’s securities are then listed,
the Company may (but is not required to) increase the Conversion Rate to avoid or diminish any income tax to holders of Common Stock or
rights to purchase Common Stock in connection with a dividend or distribution of shares of Common Stock (or rights to acquire shares of
Common Stock) or similar event.

 

    68

     

    

 

(j)     Notwithstanding
anything to the contrary in this Article 14, the Conversion Rate shall not be adjusted:

 

(i)     upon
the issuance of any shares of Common Stock (other than any such issuance described in clause (a), (b) or (c) of
this Section 14.04) at a price below the Conversion Price for the Notes;

 

(ii)    upon
the issuance of any shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest
payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any plan;

 

(iii)    upon
the issuance of any shares of Common Stock or options or rights to purchase those shares pursuant to any present or future employee, director
or consultant benefit plan or program of or assumed by the Company or any of the Company’s Subsidiaries (other than any stockholder
rights plan);

 

(iv)    upon
the issuance of any shares of the Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or convertible security
not described in clause (iii) of this subsection and outstanding as of the date the Notes were first issued;

 

(v)    for
a third-party tender offer by any party other than a tender offer by one or more of the Company’s Subsidiaries described in clause (e) of
this Section 14.04;

 

(vi)    upon
the repurchase of any shares of Common Stock that is not a tender offer or exchange offer of the nature described under clause (e) of
this Section 14.04 including (structured or derivative transactions and open market repurchases of shares of Common Stock, or
transactions pursuant to a stock repurchase program approved by the Board of Directors or otherwise);

 

(vii)   for
any issuance of PIK Notes;

 

(viii)   solely
for a change in the par value of the Common Stock; or

 

(ix)    for
accrued and unpaid interest, if any.

 

(k)    All
calculations and other determinations under this Article 14 shall be made by the Company and shall be made to the nearest one-ten
thousandth (1/10,000th) of a share.

 

(l)     If
an adjustment to the Conversion Rate otherwise required by this Section 14.04 would result in a change of less than 1% to the
Conversion Rate, then, notwithstanding the foregoing, the Company may, at its election, defer and carry forward such adjustment, except
that all such deferred adjustments must be given effect immediately upon the earliest to occur of the following: (i) when all such deferred
adjustments would result in an aggregate change of at least 1% to the Conversion Rate; (ii) the Conversion Date for any Notes (in the
case of Physical Settlement); (iii) on each Trading Day of an Observation Period for any Note; (iii) the effective date of a Fundamental
Change and/or Make-Whole Fundamental Change; (iv) if the Company calls any Notes for redemption; or (v) [●], 202613, in
each case, unless the adjustment has already been made. The provision described in the immediately preceding sentence of this Section
14.04(l) is referred to herein as the “1% Provision.”

 

(m)    Whenever
the Conversion Rate is adjusted as herein provided, the Company shall promptly file with the Trustee (and the Conversion Agent if not
the Trustee) an Officer’s Certificate setting forth the Conversion Rate after such adjustment and setting forth a brief statement
of the facts requiring such adjustment. Unless and until a Responsible Officer of the Trustee shall have received such Officer’s
Certificate, the Trustee shall not be deemed to have knowledge of any adjustment of the Conversion Rate and may assume without inquiry
that the last Conversion Rate of which it has knowledge is still in effect. Promptly after delivery of such certificate, the Company shall
prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which each adjustment
becomes effective and shall deliver such notice of such adjustment of the Conversion Rate to each Holder. Failure to deliver such notice
shall not affect the legality or validity of any such adjustment.

 

 

	13	NTD: This shall be the date that is 6 months before maturity.

 

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(n) For purposes of this Section 14.04,
the number of shares of Common Stock at any time outstanding shall not include shares of Common Stock held in the treasury of the Company
so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company,
but shall include shares of Common Stock issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock.

 

Section 14.06.     Adjustments
of Prices. Whenever any provision of this Indenture requires the Company to calculate
the Last Reported Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts over a span of multiple days
(including an Observation Period and the Stock Price for purposes of a Make-Whole Fundamental Change or for purposes of determining whether
the Company may issue a Notice of Redemption), the Company shall make appropriate adjustments in good faith to each to account for any
adjustment to the Conversion Rate that becomes effective, or any event requiring an adjustment to the Conversion Rate where the Ex-Dividend
Date, Effective Date or expiration date, as the case may be, of the event occurs at any time during the period when the Last Reported
Sale Prices, the Daily VWAPs, the Daily Conversion Values or the Daily Settlement Amounts are to be calculated.

 

Section 14.07.     Shares
to Be Fully Paid. The Company shall maintain, free from preemptive rights, out of
its authorized but unissued shares or shares held in treasury, sufficient shares of Common Stock to provide for the conversion of the
Notes from time to time as such Notes are presented for conversion (assuming delivery of the maximum number of Additional Shares pursuant
to Section 14.03 and that at the time of computation of such number of shares, all such Notes would be converted by a single
Holder and that Physical Settlement were applicable.

 

Section 14.08.     Effect
of Recapitalizations, Reclassifications and Changes of the Common Stock.

 

(a)    In
the case of:

 

(i)     any
recapitalization, reclassification or change of the Common Stock (other than changes in par value or from par value to no par value, or
changes resulting from a subdivision or combination),

 

(ii)    any
consolidation, merger, combination or similar transaction involving the Company,

 

(iii)    any
sale, lease or other transfer to a third party of all or substantially all of the consolidated assets of the Company and the Company’s
Subsidiaries or

 

(iv)    any
statutory share exchange,

 

in each case, as a result of which the Common Stock
would be converted into, or exchanged for, stock, other securities, other property or assets (including cash or any combination thereof)
(any such event, a “Merger Event”), then, at the effective time of the Merger Event, the Company or the successor
or acquiring person, as the case may be, shall execute with the Trustee a supplemental indenture, without the consent of the Holders,
providing that at and after the effective time of such Merger Event, the right to convert each $1,000 principal amount of Notes shall
be changed into a right to convert such principal amount of Notes into the kind and amount of shares of stock, other securities or other
property or assets (including cash or any combination thereof) that a holder of a number of shares of Common Stock equal to the Conversion
Rate immediately prior to such Merger Event would have owned or been entitled to receive (the “Reference Property,”
with each “unit of Reference Property” meaning the kind and amount of Reference Property that a holder of one share
of Common Stock is entitled to receive) upon such Merger Event and, prior to or at the effective time of such Merger Event, the Company
or the successor or purchasing Person, as the case may be, shall execute with the Trustee a supplemental indenture permitted under Section
10.01(j) providing for such change in the right to convert each $1,000 principal amount of Notes; provided, however,
that at and after the effective time of the Merger Event (A) the Company or the successor or acquiring company, as the case may be, shall
continue to have the right to elect to determine the form of consideration to be paid or delivered, as the case may be, in respect of
the remainder, if any, of the Conversion Obligation in excess of the principal amount of the Notes being converted, in accordance with Section
14.02, (B) any amount payable in cash upon conversion of the Notes in accordance with Section 14.02 shall continue to be payable
in cash, (C) any shares of Common Stock that the Company would have been required to deliver upon conversion of the Notes in accordance
with Section 14.02 shall instead be deliverable in the amount and type of Reference Property that a holder of that number of
shares of Common Stock would have received in such Merger Event and (D) the Daily VWAP shall be calculated based on the value of a unit
of Reference Property.

 

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If the Merger Event causes the Common Stock to be
converted into, or exchanged for, the right to receive more than a single type of consideration (determined based in part upon any form
of stockholder election), then (i) the Reference Property into which the Notes will be convertible shall be deemed to be the weighted
average of the types and amounts of consideration actually received by the holders of Common Stock, and (ii) the unit of Reference Property
for purposes of the immediately preceding paragraph shall refer to the consideration referred to in clause (i) attributable to one
share of Common Stock. If the holders of the Common Stock receive only cash in such Merger Event, then for all conversions for which the
relevant Conversion Date occurs after the effective date of such Merger Event (A) the consideration due upon conversion of each $1,000
principal amount of Notes shall be solely cash in an amount equal to the Conversion Rate in effect on the Conversion Date (as may be increased
by any Additional Shares pursuant to Section 14.03), multiplied by the price paid per share of Common Stock in such
Merger Event and (B) the Company shall satisfy the Conversion Obligation by paying cash to converting Holders on the second Business Day
immediately following the relevant Conversion Date. The Company shall notify Holders, the Trustee and the Conversion Agent (if other than
the Trustee) in writing of such weighted average as soon as reasonably practicable after such determination is made.

 

If the Reference Property in respect of any Merger
Event includes, in whole or in part, shares of Common Equity or securities convertible into or exchangeable for shares of Common Equity,
the supplemental indenture described in the second immediately preceding paragraph shall provide for anti-dilution and other adjustments
that shall be as nearly equivalent as is possible to the adjustments provided for in this Article 14 with respect to the portion
of Reference Property consisting of such Common Equity or securities convertible into or exchangeable for shares of Common Equity. If
the Reference Property in respect of any such Merger Event includes shares of stock, securities or other property or assets, other than
cash and/or cash equivalents, of a Person other than the Company or the successor or purchasing corporation, as the case may be, in such
Merger Event and such other company, if an affiliate of the Company (or, if the Company does not survive the Merger Event, an affiliate
of the successor or purchasing company) is party to the transaction, such other company shall also execute such supplemental indenture,
and such supplemental indenture shall contain such additional provisions to protect the interests of the Holders as the Company shall
in good faith reasonably consider necessary by reason of the foregoing, including the provisions providing for the purchase rights set
forth in Article 15.

 

(b)    When
the Company executes a supplemental indenture pursuant to subsection (a) of this Section 14.07, the Company shall promptly
file with the Trustee an Officer’s Certificate briefly stating the reasons therefor, the kind or amount of cash, securities or property
or asset that will comprise a unit of Reference Property after any such Merger Event, any adjustment to be made with respect thereto and
that all conditions precedent have been complied with, and shall promptly deliver or cause to be delivered notice thereof to all Holders.
The Company shall cause notice of the execution of such supplemental indenture to be delivered to each Holder within 20 days after execution
thereof. Failure to deliver such notice shall not affect the legality or validity of such supplemental indenture.

 

(c)    The
Company shall not become a party to any Merger Event unless its terms are reasonably consistent with this Section 14.07 and
in compliance with Section 14.10. None of the foregoing provisions shall affect the right of a holder of Notes to convert its Notes
into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, as set forth in Section 14.01 and Section
14.02 prior to the effective date of such Merger Event.

 

(d)    The
above provisions of this Section shall similarly apply to successive Merger Events.

 

Section 14.09.     Certain
Covenants. (a) The Company covenants that all shares of Common Stock issued
upon conversion of Notes will be fully paid and non-assessable by the Company and free from all taxes, liens and charges with respect
to the issue thereof.

 

(b)    The
Company further covenants that if at any time the Common Stock shall be listed on any national securities exchange or automated quotation
system the Company will list and keep listed, so long as the Common Stock shall be so listed on such exchange or automated quotation system,
any Common Stock issuable upon conversion of the Notes.

 

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Section 14.10.     Responsibility
of Trustee. The Trustee and any other Conversion Agent shall not at any time be under
any duty or responsibility to any Holder to determine the Conversion Rate (or any adjustment thereto) or whether any facts exist that
may require any adjustment (including any increase) of the Conversion Rate, or with respect to the nature or extent or calculation of
any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed,
in making the same. The Trustee and any other Conversion Agent shall not be accountable with respect to the validity or value (or the
kind or amount) of any shares of Common Stock, or of any securities, property or cash that may at any time be issued or delivered upon
the conversion of any Note; and the Trustee and any other Conversion Agent make no representations with respect thereto. Neither the Trustee
nor any Conversion Agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares of Common Stock
or stock certificates or other securities or property or cash upon the surrender of any Note for the purpose of conversion or to comply
with any of the duties, responsibilities or covenants of the Company contained in this Article. Without limiting the generality of the
foregoing, neither the Trustee nor any Conversion Agent shall be under any responsibility to determine the correctness of any provisions
contained in any supplemental indenture entered into pursuant to Section 14.07 relating either to the kind or amount of shares
of stock or securities or property (including cash) receivable by Holders upon the conversion of their Notes after any event referred
to in such Section 14.07 or to any adjustment to be made with respect thereto, but, subject to the provisions of Section
7.01, may accept (without any independent investigation) as conclusive evidence of the correctness of any such provisions, and shall be
protected in relying upon, the Officer’s Certificate (which the Company shall be obligated to file with the Trustee prior to the
execution of any such supplemental indenture) with respect thereto. Neither the Trustee nor the Conversion Agent shall be responsible
for determining whether any event contemplated by Section 14.01(b) has occurred that makes the Notes eligible for conversion or no longer
eligible therefor until the Company has delivered to the Trustee and the Conversion Agent the notices referred to in Section 14.01(b)
with respect to the commencement or termination of such conversion rights, on which notices the Trustee and the Conversion Agent may conclusively
rely, and the Company agrees to deliver such notices to the Trustee and the Conversion Agent immediately after the occurrence of any such
event or at such other times as shall be provided for in Section 14.01(b). Except as otherwise expressly provided herein, neither the
Trustee nor any other agent acting under this Indenture (other than the Company, if acting in such capacity) shall have any obligation
to make any calculation or to determine whether the Notes may be surrendered for conversion pursuant to this Indenture, or to notify the
Company or the Depositary or any of the Holders if the Notes have become convertible pursuant to the terms of this Indenture.

 

Section 14.11.     Notice
to Holders Prior to Certain Actions. In case of any:

 

(a)    action
by the Company or one of its Subsidiaries that would require an adjustment in the Conversion Rate pursuant to Section 14.04 or Section
14.11; or

 

(b)    voluntary
or involuntary dissolution, liquidation or winding-up of the Company;

 

then, in each case (unless notice of such event is otherwise required
pursuant to another provision of this Indenture), the Company shall cause to be filed with the Trustee and the Conversion Agent (if other
than the Trustee) and to be delivered to each Holder, as promptly as possible, a notice stating (i) the date on which a record is to be
taken for the purpose of such action by the Company or one of its Subsidiaries or, if a record is not to be taken, the date as of which
the holders of Common Stock of record are to be determined for the purposes of such action by the Company or one of its Subsidiaries,
or (ii) the date on which such dissolution, liquidation or winding-up is expected to become effective or occur, and the date as of which
it is expected that holders of Common Stock of record shall be entitled to exchange their Common Stock for securities or other property
deliverable upon such dissolution, liquidation or winding-up. Failure to give such notice, or any defect therein, shall not affect the
legality or validity of such action by the Company or one of its Subsidiaries, dissolution, liquidation or winding-up.

 

Section 14.12.     Stockholder
Rights Plans. If the Company has a stockholder rights plan in effect, upon conversion
of the Notes, each share of Common Stock, if any, issued upon such conversion shall be entitled to receive the appropriate number of rights,
if any, and the certificates representing the Common Stock issued upon such conversion shall bear such legends, if any, in each case as
may be provided by the terms of any such stockholder rights plan, as the same may be amended from time to time. However, if, prior to
any conversion of Notes, the rights have separated from the shares of Common Stock in accordance with the provisions of the applicable
stockholder rights plan, the Conversion Rate shall be adjusted at the time of separation as if the Company distributed to all or substantially
all holders of the Common Stock Distributed Property as provided in Section 14.04(c), subject to readjustment in the event of the
expiration, termination or redemption of such rights.

 

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Section 14.13.     Exchange
in Lieu of Conversion.

 

(a)    When
a Holder surrenders its Notes for conversion, the Company may, at its election (an “Exchange Election”), direct the
Conversion Agent in writing to deliver, on or prior to the Trading Day immediately following the Conversion Date, such Notes to one or
more financial institutions designated by the Company (each, a “Designated Financial Institution”) for exchange in
lieu of conversion. In order to accept any Notes surrendered for conversion, the Designated Financial Institution(s) must agree to timely
pay and/or deliver, as the case may be, in exchange for such Notes, cash up to the aggregate principal amount of the Notes to be converted
and pay or deliver, as the case may be, cash, shares of Common Stock or combination thereof at the election of the Company due upon conversion
pursuant to Section 14.02 or such other amount agreed to by the Holder and the Designated Financial Institution(s) (the “Conversion
Consideration”). If the Company makes an Exchange Election, the Company shall, by the close of business on the Trading Day following
the relevant Conversion Date, notify in writing the Trustee, the Conversion Agent (if other than the Trustee) and the Holder surrendering
Notes for conversion that the Company has made the Exchange Election, and the Company shall notify the Designated Financial Institution(s)
of the relevant deadline for delivery of the Conversion Consideration and the type of Conversion Consideration to be paid and/or delivered,
as the case may be.

 

(b)    Any
Notes delivered to the Designated Financial Institution(s) shall remain outstanding and the Designated Financial Institution(s) shall
be the holder(s) of the Notes, subject to the applicable procedures of the Depositary. If the Designated Financial Institution(s) agree(s)
to accept any Notes for exchange but does not timely pay and/or deliver, as the case may be, the related Conversion Consideration, or
if such Designated Financial Institution(s) does not accept the Notes for exchange, the Company shall notify the Trustee, the Conversion
Agent and the Holder surrendering its Notes for conversion and pay and/or deliver, as the case may be, the relevant Conversion Consideration,
as, and at the time, required pursuant to this Indenture as if the Company had not made the Exchange Election and the Notes will be cancelled
in accordance with the provisions of this Indenture.

 

(c)    The
Company’s designation of any Designated Financial Institution(s) to which the Notes may be submitted for exchange does not require
such Designated Financial Institution(s) to accept any Notes.

 

ARTICLE
15

Repurchase of Notes at Option of Holders

 

Section 15.01.     [Intentionally
Omitted].

 

Section 15.02.     Repurchase
at Option of Holders Upon a Fundamental Change. (a) If a Fundamental Change
occurs at any time prior to the Maturity Date, each Holder shall have the right, at such Holder’s option, to require the Company
to repurchase for cash all of such Holder’s Notes, or any portion of the principal amount thereof properly surrendered and not validly
withdrawn pursuant to Section 15.03 that is equal to $1,000 or an integral multiple of $1,000, on the date (the “Fundamental
Change Repurchase Date”) specified by the Company that is not less than 20 Business Days or more than 35 Business Days following
the date of the Fundamental Change Company Notice at a repurchase price equal to 100% of the principal amount thereof, plus accrued
and unpaid interest thereon to, but excluding, the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”),
unless the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which
such Regular Record Date relates, in which case the Company shall instead pay, on or, at the Company’s election, before such Interest
Payment Date, the full amount of accrued and unpaid interest to Holders of record as of such Regular Record Date, and the Fundamental
Change Repurchase Price shall be equal to 100% of the principal amount of Notes to be repurchased pursuant to this Article 15.

 

(b)    Repurchases
of Notes under this Section 15.02 shall be made, at the option of the Holder thereof, upon:

 

(i)     delivery
to the Paying Agent by a Holder of a duly completed notice (the “Fundamental Change Repurchase Notice”) in the form
set forth in Attachment 2 to the Form of Note attached hereto as Exhibit A, if the Notes are Physical Notes, or in compliance with the
Depositary’s procedures for surrendering interests in Global Notes, if the Notes are Global Notes, in each case, on or before the
close of business on the Business Day immediately preceding the Fundamental Change Repurchase Date; and

 

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(ii)    delivery
of the Notes, if the Notes are Physical Notes, to the Paying Agent at any time after delivery of the Fundamental Change Repurchase Notice
(together with all necessary endorsements for transfer) at the Corporate Trust Office of the Paying Agent, or book-entry transfer of the
Notes, if the Notes are Global Notes, in compliance with the procedures of the Depositary, in each case, such delivery or transfer being
a condition to receipt by the Holder of the Fundamental Change Repurchase Price therefor.

 

The Fundamental Change Repurchase Notice in respect
of any Physical Notes to be repurchased shall state:

 

(1)       if
Physical Notes have been issued the certificate numbers of the Notes to be delivered for repurchase;

 

(2)       the
portion of the principal amount of Notes to be repurchased, which must be $1,000 or an integral multiple thereof; and

 

(3)       that
the Notes are to be repurchased by the Company pursuant to the applicable provisions of the Notes and this Indenture.

 

If the Notes are Global Notes, to exercise the Fundamental
Change repurchase right, Holders must surrender their Notes in accordance with applicable Depositary procedures.

 

Notwithstanding anything herein to the contrary,
any Holder delivering to the Paying Agent the Fundamental Change Repurchase Notice contemplated by this Section 15.02 shall
have the right to withdraw, in whole or in part, such Fundamental Change Repurchase Notice at any time prior to the close of business
on the Business Day immediately preceding the Fundamental Change Repurchase Date by delivery of a written notice of withdrawal to the
Paying Agent in accordance with Section 15.03.

 

The Paying Agent shall promptly notify the Company
of the receipt by it of any Fundamental Change Repurchase Notice or written notice of withdrawal thereof.

 

(c)    On
or before the 15th Business Day after the occurrence of the effective date of a Fundamental Change, the Company shall
provide to all Holders and the Trustee, the Conversion Agent (if other than the Trustee) and the Paying Agent (if other than the Trustee)
a written notice (the “Fundamental Change Company Notice”) of the occurrence of the effective date of the Fundamental
Change and of the repurchase right at the option of the Holders arising as a result thereof. In the case of Physical Notes, such notice
shall be by first class mail or, in the case of Global Notes, such notice shall be delivered in accordance with the applicable procedures
of the Depositary. Simultaneously with providing such notice, the Company shall publish such information on the Company’s website
or through such other public medium as the Company may use at that time, including through the filing of a Form 8-K with the Commission.
Each Fundamental Change Company Notice shall specify:

 

(i)     the
events causing the Fundamental Change;

 

(ii)    the
effective date of the Fundamental Change;

 

(iii)    the
last date on which a Holder may exercise the repurchase right pursuant to this Article 15;

 

(iv)    the
Fundamental Change Repurchase Price;

 

(v)    the
Fundamental Change Repurchase Date;

 

(vi)    the
name and address of the Paying Agent and the Conversion Agent, if applicable;

 

(vii)   if
applicable, the Conversion Rate and any adjustments to the Conversion Rate as a result of a Fundamental Change (or related Make-Whole
Fundamental Change);

 

(viii)   that
the Notes with respect to which a Fundamental Change Repurchase Notice has been delivered by a Holder may be converted only if the Holder
validly withdraws the Fundamental Change Repurchase Notice in accordance with the terms of this Indenture; and

 

(ix)    the
procedures that Holders must follow to require the Company to repurchase their Notes.

 

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No failure of the Company to give the foregoing
notices and no defect therein shall limit the Holders’ repurchase rights or affect the validity of the proceedings for the repurchase
of the Notes pursuant to this Section 15.02.

 

At the Company’s written request, the Trustee
shall give such notice in the Company’s name and at the Company’s expense; provided, however, that,
in all cases, the text of such Fundamental Change Company Notice shall be prepared by the Company and delivered to the Trustee at least
three Business Days prior (or such shorter period as shall be acceptable to the Trustee).

 

(d)    Notwithstanding
anything to the contrary in this Article 15, the Company shall not be required to repurchase, or to make an offer to repurchase,
the Notes upon a Fundamental Change if a third party makes such an offer in the same manner, at the same time and otherwise in compliance
with the requirements for an offer made by the Company as set forth in this Article 15 and such third party purchases all Notes
properly surrendered and not validly withdrawn under its offer in the same manner, at the same time and otherwise in compliance with the
requirements for an offer made by the Company as set forth above.

 

(e)    Notwithstanding
the foregoing, no Notes may be repurchased by the Company on any date at the option of the Holders upon a Fundamental Change if the principal
amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to such date (except in the case of
an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Repurchase Price with respect to such
Notes). The Paying Agent will promptly return to the respective Holders thereof any Physical Notes held by it during the acceleration
of the Notes (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Repurchase
Price with respect to such Notes), or any instructions for book-entry transfer of the Notes in compliance with the applicable procedures
of the Depositary shall be deemed to have been cancelled, and, upon such return or cancellation, as the case may be, the Fundamental Change
Repurchase Notice with respect thereto shall be deemed to have been withdrawn.

 

Section 15.03.     Withdrawal
of Fundamental Change Repurchase Notice. (a) A Fundamental Change Repurchase
Notice may be withdrawn (in whole or in part) in respect of Physical Notes by means of a written notice of withdrawal received by the
Corporate Trust Office of the Paying Agent in accordance with this Section 15.03 at any time prior to the close of business
on the Business Day immediately preceding the Fundamental Change Repurchase Date, specifying:

 

(i)     the
principal amount of the Notes with respect to which such notice of withdrawal is being submitted, which must be $1,000 or an integral
multiple thereof,

 

(ii)    the
certificate number of the Note in respect of which such notice of withdrawal is being submitted, and

 

(iii)    the
principal amount, if any, of such Note that remains subject to the original Fundamental Change Repurchase Notice, which must be $1,000
or an integral multiple thereof;

 

If the Notes are Global Notes, such notice of withdrawal
must comply with applicable procedures of the Depositary.

 

Section
15.04. Deposit of Fundamental Change Repurchase Price. (a) The Company will
deposit with the Trustee (or other Paying Agent appointed by the Company, or if the Company is acting as its own Paying Agent, set
aside, segregate and hold in trust as provided in Section 4.04) on or prior to 11:00 a.m., New York City time, on the
Fundamental Change Repurchase Date an amount of money sufficient to repurchase all of the Notes to be repurchased at the appropriate
Fundamental Change Repurchase Price. Subject to receipt of funds and/or Notes by the Trustee (or other Paying Agent appointed by the
Company), payment for Notes surrendered for repurchase (and not validly withdrawn prior to the close of business on the Business Day
immediately preceding the Fundamental Change Repurchase Date) will be made on the later of (i) the Fundamental Change Repurchase
Date (provided the Holder has satisfied the conditions in Section 15.02) and (ii) the time of book-entry transfer
or the delivery of such Note to the Trustee (or other Paying Agent appointed by the Company) by the Holder thereof in the manner
required by Section 15.02 by mailing checks for the amount payable to the Holders of such Notes entitled thereto as they
shall appear in the Note Register; provided, however, that payments to the Depositary shall be made by wire
transfer of immediately available funds to the account of the Depositary or its nominee. The Trustee shall, promptly after such
payment and upon written demand by the Company, return to the Company any funds in excess of the Fundamental Change Repurchase
Price.

 

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(b)    If
by 11:00 a.m. New York City time, on the Fundamental Change Repurchase Date, the Trustee (or other Paying Agent appointed by the Company)
holds money sufficient to pay the Fundamental Change Repurchase Price (and, to the extent not included in the Fundamental Change Repurchase
Price, accrued and unpaid interest, if applicable) of the Notes to be repurchased on such Fundamental Change Repurchase Date, then, with
respect to the Notes that have been properly surrendered for repurchase and have not been validly withdrawn, (i) such Notes will cease
to be outstanding, (ii) interest will cease to accrue on such Notes (whether or not book-entry transfer of the Notes has been made or
whether or not the Notes have been delivered to the Trustee or Paying Agent) and (iii) all other rights of the Holders of such Notes will
terminate (other than the right to receive the Fundamental Change Repurchase Price and, to the extent not included in the Fundamental
Change Repurchase Price, accrued and unpaid interest, if applicable).

 

(c)    Upon
surrender of a Note that is to be repurchased in part pursuant to Section 15.02, the Company shall execute, and the Trustee shall
authenticate and deliver to the Holder, a new Note in an authorized denomination equal in principal amount to the unrepurchased portion
of the Note surrendered.

 

Section 15.05.     Covenant
to Comply with Applicable Laws Upon Repurchase of Notes. In connection with any repurchase
offer upon a Fundamental Change pursuant to this Article 15, the Company will, if required:

 

(a)    comply
with the provisions of Rule 13e-4, Rule 14e-1 and any other tender offer rules under the Exchange Act that may then be applicable;

 

(b)    file
a Schedule TO or any other required schedule under the Exchange Act; and

 

(c)    otherwise
comply in all material respects with all federal and state securities laws in connection with any offer by the Company to repurchase the
Notes;

 

in each case, so as to permit the rights and obligations under this Article
15 to be exercised in the time and in the manner specified in this Article 15.

 

However, to the extent that the obligations of the
Company to offer to repurchase and to repurchase Notes pursuant to the provisions described above conflict with any law or regulation
adopted after the date of this Indenture and that is applicable to the Company, the Company’s compliance with such law or regulation
shall not be considered to be a Default of those obligations.

 

ARTICLE
16

Optional Redemption

 

Section 16.01.     Optional
Redemption. No sinking fund is provided for the Notes. On a Redemption Date occurring
before the 21st Scheduled Trading Day before the Maturity Date, the Company may redeem (an “Optional Redemption”)
for cash all or any part of the Notes, at a redemption price equal to 100% of the principal amount of the Notes plus the Applicable Premium
as of, and accrued and unpaid interest to, the Redemption Date (subject to the right of Holders on the relevant Regular Record Date to
receive interest due on the relevant Interest Payment Date).

 

Section 16.02. Notice of
Optional Redemption; Selection of Notes. (a) In case the Company exercises its Optional Redemption right to redeem all or, as
the case may be, any part of the Notes pursuant to Section 16.01, it shall fix a date for redemption (each, a
“Redemption Date”) and it or, at its written request received by the Trustee not less than five Business Days
prior to the Redemption Notice Date (or such shorter period of time as may be acceptable to the Trustee), the Trustee, in the name
of and at the expense of the Company, shall deliver or cause to be delivered a written notice of such Optional Redemption (a
“Notice of Redemption”) (in all cases, the text of such Notice of Redemption shall be prepared by the Company)
not less than 35 nor more than 65 Scheduled Trading Days prior to the Redemption Date to each Holder of Notes so to be redeemed in
whole or in part; provided, however, that, if the Company shall give such notice, it shall also give written
notice of the Redemption Date to the Trustee, the Conversion Agent and the Paying Agent. In the case of any Optional Redemption in
part, Holders of Notes not called for Optional Redemption will not be entitled to an increased Conversion Rate for such Notes in
accordance with Section 14.03 and Section 16.02(c). The Redemption Date must be a Business Day.

 

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(b)    The
Notice of Redemption, if delivered in the manner herein provided, shall be conclusively presumed to have been duly given, whether or not
the Holder receives such notice. In any case, failure to give such Notice of Redemption or any defect in the Notice of Redemption to the
Holder of any Note designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption
of any other Note.

 

(c)    Each
Notice of Redemption shall specify:

 

(i)     the
Redemption Date (which must be a Business Day);

 

(ii)    the
Redemption Price;

 

(iii)    that
on the Redemption Date, the Redemption Price will become due and payable upon each Note to be redeemed, and that interest thereon, if
any, shall cease to accrue on and after the Redemption Date;

 

(iv)    the
place or places where such Notes are to be surrendered for payment of the Redemption Price;

 

(v)    that
Holders may surrender their Notes for conversion at any time prior to the close of business on the second Scheduled Trading Day immediately
preceding the Redemption Date;

 

(vi)    the
procedures a converting Holder must follow to convert its Notes and the forms and amounts of consideration payable by the Company upon
conversion;

 

(vii)   the
Conversion Rate and, if applicable, the number of Additional Shares added to the Conversion Rate in accordance with Section 14.03;

 

(viii)   the CUSIP,
ISIN or other similar numbers, if any, assigned to such Notes; and

 

(ix)    in
case any Note is to be redeemed in part only, the portion of the principal amount thereof to be redeemed and on and after the Redemption
Date, upon surrender of such Note, a new Note in principal amount equal to the unredeemed portion thereof shall be issued, which principal
amount must be $1.00 or an integral multiple of $1.00 in excess of $1.00.

 

A Notice of Redemption shall be irrevocable.

 

(d) If fewer than all of the
outstanding Notes are to be redeemed and the Notes to be redeemed are Global Notes, the Notes to be redeemed shall be selected by
the Depositary in accordance with the applicable rules and procedures of the Depositary. If fewer than all of the outstanding Notes
are to be redeemed and the Notes to be redeemed are not Global Notes, the Trustee shall select the Notes or portions thereof to be
redeemed (in principal amounts of $1,000 or multiples thereof) by lot, on a pro rata basis or by another method the
Trustee considers to be fair and appropriate. If any Note selected for partial redemption is submitted for conversion in part after
such selection, the portion of the Note submitted for conversion shall be deemed (so far as may be possible) to be the portion
selected for redemption, subject, in the case of Notes represented by a Global Note, to the Depositary’s applicable
procedures. If fewer than all of the outstanding Notes are to be redeemed and the Holder of any Note (or any owner of a beneficial
interest in any Global Note) is reasonably not able to determine, before the close of business on the 45th scheduled
Trading Day immediately before the relevant Redemption Date, whether such Note or beneficial interest, as applicable, is to be
redeemed pursuant to such redemption, then such Holder or owner, as applicable, will be entitled to convert such Note or beneficial
interest, as applicable, at any time before the close of business on the second Scheduled Trading Day prior to such Redemption Date,
unless the Company defaults in the payment of the Redemption Price pursuant to Section 14.01(b)(v), in which case such Holder or
owner, as applicable, will be entitled to convert such Note or beneficial interest, as applicable, until the Redemption Price has
been paid or duly provided for, and each such conversion will be deemed to be of a Note called for redemption. The Trustee shall not
be obligated to make any determination in connection with the foregoing.

 

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Section 16.03.     Payment
of Notes Called for Redemption. (a) If any Notice of Redemption has been given in respect of the Notes in accordance with Section
16.02, the Notes shall become due and payable on the Redemption Date at the place or places stated in the Notice of Redemption and at
the applicable Redemption Price. On presentation and surrender of the Notes at the place or places stated in the Notice of Redemption,
the Notes shall be paid and redeemed by the Company at the applicable Redemption Price.

 

(b)    Prior
to 11:00 a.m. New York City time on the Redemption Date, the Company shall deposit with the Paying Agent or, if the Company or a Subsidiary
of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 7.05 an amount of cash
(in immediately available funds if deposited on the Redemption Date), sufficient to pay the Redemption Price of all of the Notes to be
redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Notes to be redeemed shall be made
on the Redemption Date for such Notes. The Paying Agent shall, promptly after such payment and upon written demand by the Company, return
to the Company any funds in excess of the Redemption Price.

 

Section 16.04.     Restrictions
on Redemption. No Notes may be redeemed on any date if the principal amount of the
Notes has been accelerated in accordance with the terms of this Indenture, and such acceleration has not been rescinded, on or prior to
the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price
with respect to such Notes).

 

ARTICLE
17 Guarantee

 

Section 17.01.     Guarantee.

 

Subject to this Article 17, each of the Guarantors
hereby, jointly and severally, unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the
Trustee and its successors and assigns the Notes or the obligations of the Company hereunder or thereunder, that: (a) the principal of,
premium (if any) and interest on the Notes will be promptly paid in full when due, whether at the Maturity Date, by acceleration, or otherwise,
and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Company to the
Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and
thereof; and (b) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will
be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at the Maturity Date,
by acceleration or otherwise. Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason,
the Guarantors shall be jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is a guarantee of
payment and not a guarantee of collection.

 

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

 

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

 

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Each Guarantor agrees that
it shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby
until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on the
one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be
accelerated as provided in Article Six hereof for the purposes of this Guarantee, notwithstanding any stay, injunction or other
prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any declaration of
acceleration of such obligations as provided in Article Six hereof, such obligations (whether or not due and payable) shall
forthwith become due and payable by the Guarantors for the purpose of this Guarantee.

 

If an Officer of a Guarantor whose signature is
on this Indenture no longer holds that office at the time the Trustee authenticates any Note hereunder, this Guarantee shall be valid
nevertheless.

 

The delivery of any Note by the Trustee, after the
authentication thereof hereunder, shall constitute due delivery of the Guarantee set forth in this Indenture on behalf of the Guarantors.

 

Section 17.02.     Limitation
on Guarantor Liability.

 

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

 

Section 17.03.     Release
of Guarantees.

 

Any Guarantee by a Subsidiary of the Notes shall
provide by its terms that it (and all Liens securing such Guarantee) shall be automatically and unconditionally released and discharged,
without any further action required on the part of the Trustee or any Holder, upon:

 

(1) the Company’s obligations under
this Indenture being discharged in accordance with the terms of this Indenture; or

 

(2) any sale, issuance or other disposition
(by merger or otherwise) to any Person which is not a Subsidiary of the Company of (i) all or substantially all of the assets of such
Subsidiary or (ii) Capital Stock of a Subsidiary such that such Subsidiary ceases to be a Subsidiary; provided that such
sale or disposition of such Capital Stock is otherwise permitted by the terms of this Indenture.

 

ARTICLE
18

Miscellaneous Provisions

 

Section 18.01.     Provisions
Binding on Company’s Successors. All the covenants, stipulations, promises
and agreements of the Company contained in this Indenture shall bind its successors and assigns whether so expressed or not.

 

Section 18.02.     Official
Acts by Successor Corporation. Any act or proceeding by any provision of this Indenture
authorized or required to be done or performed by any board, committee or Officer of the Company shall and may be done and performed with
like force and effect by the like board, committee or officer of any corporation or other entity that shall at the time be the lawful
sole successor of the Company.

 

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Section
18.03. Addresses for Notices, Etc. Any notice or demand that by any
provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders on the Company shall be
deemed to have been sufficiently given or made, for all purposes if given or served by overnight courier or by being deposited
postage prepaid by registered or certified mail in a post office letter box addressed (until another address is filed by the Company
with the Trustee) to [●]14, Attention: [●], Email: [●], with a copy to Colin Diamond, White & Case
LLP, 1221 Avenue of the Americas, New York, NY 10020 and Laura Katherine Mann, White & Case LLP, 609 Main Street, Houston, TX,
77002. Any notice, direction, request or demand hereunder to or upon the Trustee shall be deemed to have been sufficiently given or
made, for all purposes, if given or served by being deposited postage prepaid by registered or certified mail in a post office
letter box addressed to the Corporate Trust Office or sent electronically in PDF format, whether by mail or electronically, upon
actual receipt by the Trustee.

 

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

 

Any notice or communication delivered or to be delivered
to a Holder of Physical Notes shall be mailed to it by first class mail, postage prepaid, at its address as it appears on the Note Register
and shall be sufficiently given to it if so mailed within the time prescribed. Any notice or communication delivered or to be delivered
to a Holder of Global Notes shall be delivered in accordance with the applicable procedures of the Depositary and shall be sufficiently
given to it if so delivered within the time prescribed. Notwithstanding any other provision of this Indenture or any Note, where this
Indenture or any Note provides for notice of any event (including any Fundamental Change Company Notice) to a Holder of a Global Note
(whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary (or its designee) pursuant to the standing
instructions from the Depositary or its designee, including by electronic mail in accordance with the Depositary’s applicable procedures.

 

Failure to mail or deliver a notice or communication
to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is mailed
or delivered, as the case may be, in the manner provided above, it is duly given, whether or not the addressee receives it.

 

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

 

Section 18.04.     Governing
Law; Jurisdiction. THIS INDENTURE AND EACH NOTE, AND ANY CLAIM, CONTROVERSY OR DISPUTE
ARISING UNDER OR RELATED TO THIS INDENTURE AND EACH NOTE, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK.

 

The Company irrevocably consents and agrees, for
the benefit of the Holders from time to time of the Notes and the Trustee, that any legal action, suit or proceeding against it with respect
to obligations, liabilities or any other matter arising out of or in connection with this Indenture or the Notes may be brought in the
courts of the State of New York or the courts of the United States located in the Borough of Manhattan, New York City, New York and, until
amounts due and to become due in respect of the Notes have been paid, hereby irrevocably consents and submits to the non-exclusive jurisdiction
of each such court in personam, generally and unconditionally with respect to any action, suit or proceeding for itself in
respect of its properties, assets and revenues.

 

The Company irrevocably and unconditionally waives,
to the fullest extent permitted by law, any objection which it may now or hereafter have to the laying of venue of any of the aforesaid
actions, suits or proceedings arising out of or in connection with this Indenture brought in the courts of the State of New York or the
courts of the United States located in the Borough of Manhattan, New York City, New York and hereby further irrevocably and unconditionally
waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been
brought in an inconvenient forum.

 

Section 18.05.     Evidence
of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee. Upon
any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company
shall furnish to the Trustee an Officer’s Certificate and an Opinion of Counsel stating that such action is permitted by the terms
of this Indenture.

 

 

	14	Note to Draft: Company to provide.

 

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Each Officer’s
Certificate and Opinion of Counsel provided for, by or on behalf of the Company in this Indenture and delivered to the Trustee with
respect to compliance with this Indenture (other than the Officer’s Certificates provided for in Section 4.08) shall
include (a) a statement that the person signing such certificate is familiar with the requested action and this Indenture; (b) a
brief statement as to the nature and scope of the examination or investigation upon which the statement contained in such
certificate is based; (c) a statement that, in the judgment of such person, he or she has made such examination or investigation as
is necessary to enable him or her to express an informed judgment as to whether or not such action is permitted by this Indenture;
and (d) a statement as to whether or not, in the judgment of such person, such action is permitted by this Indenture and that all
conditions precedent to such action have been complied with; provided that no Opinion of Counsel shall be required
to be delivered in connection with (1) the original issuance of Notes on the date hereof under this Indenture, (2) the mandatory
exchange of the restricted CUSIP of the Restricted Securities to an unrestricted CUSIP pursuant to the applicable procedures of the
Depositary upon the Notes becoming freely tradable by non-Affiliates of the Company under Rule 144 and the removal of the
restrictive legends in connection therewith unless a new Note is to be authenticated, or (3) a request by the Company that the
Trustee deliver a notice to Holders under this Indenture where the Trustee receives an Officer’s Certificate with respect to
such notice. With respect to matters of fact, an Opinion of Counsel may rely on an Officer’s Certificate or certificates of
public officials.

 

Notwithstanding anything to the contrary in this Section
18.05, if any provision in this Indenture specifically provides that the Trustee shall or may receive an Opinion of Counsel in connection
with any action to be taken by the Trustee or the Company hereunder, the Trustee shall be entitled to such Opinion of Counsel.

 

Section 18.06.     Legal
Holidays. In any case where any Interest Payment Date, any Fundamental Change Repurchase
Date, any Redemption Date or the Maturity Date is not a Business Day, then any action to be taken on such date need not be taken on such
date, but may be taken on the next succeeding Business Day with the same force and effect as if taken on such date, and no interest shall
accrue in respect of the delay.

 

Section 18.07.     No
Security Interest Created. Nothing in this Indenture or in the Notes, expressed or
implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter
enacted and in effect, in any jurisdiction.

 

Section 18.08.     Benefits
of Indenture. Nothing in this Indenture or in the Notes, expressed or implied, shall
give to any Person, other than the Holders, the parties hereto, any Paying Agent, any Conversion Agent, any Custodian, any authenticating
agent, any Note Registrar and their successors hereunder, any benefit or any legal or equitable right, remedy or claim under this Indenture.

 

Section 18.09.     Table
of Contents, Headings, Etc. The table of contents and the titles 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 18.10.     Authenticating
Agent. The Trustee may appoint an authenticating agent that shall be authorized to
act on its behalf and subject to its direction in the authentication and delivery of Notes in connection with the original issuance thereof
and transfers and exchanges of Notes hereunder, including under Section 2.04, Section 2.05, Section 2.06, Section
2.07, Section 10.04 and Section 15.04 as fully to all intents and purposes as though the authenticating agent had
been expressly authorized by this Indenture and those Sections to authenticate and deliver Notes. For all purposes of this Indenture,
the authentication and delivery of Notes by the authenticating agent shall be deemed to be authentication and delivery of such Notes “by
the Trustee” and a certificate of authentication executed on behalf of the Trustee by an authenticating agent shall be deemed to
satisfy any requirement hereunder or in the Notes for the Trustee’s certificate of authentication. Such authenticating agent shall
at all times be a Person eligible to serve as trustee hereunder pursuant to Section 7.08.

 

Any corporation or other entity into which any authenticating
agent may be merged or converted or with which it may be consolidated, or any corporation or other entity resulting from any merger, consolidation
or conversion to which any authenticating agent shall be a party, or any corporation or other entity succeeding to the corporate trust
business of any authenticating agent, shall be the successor of the authenticating agent hereunder, if such successor corporation or other
entity is otherwise eligible under this Section 18.10, without the execution or filing of any paper or any further act on the part
of the parties hereto or the authenticating agent or such successor corporation or other entity.

 

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Any authenticating agent
may at any time resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time
terminate the agency of any authenticating agent by giving written notice of termination to such authenticating agent and to the
Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time any authenticating agent
shall cease to be eligible under this Section, the Trustee may appoint a successor authenticating agent (which may be the Trustee),
shall give written notice of such appointment to the Company and shall deliver notice of such appointment to all Holders.

 

The Company agrees to pay to the authenticating
agent from time to time reasonable compensation for its services although the Company may terminate the authenticating agent, if it determines
such agent’s fees to be unreasonable.

 

The provisions of Section 7.02, Section
7.03, Section 7.04, Section 8.03 and this Section 18.10 shall be applicable to any authenticating agent.

 

If an authenticating agent is appointed pursuant
to this Section 18.10, the Notes may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an
alternative certificate of authentication in the following form:

 

,

as Authenticating Agent, certifies that this is one of the Notes described

in the within-named Indenture.

 

By: ______________________________________________

Authorized Signatory

 

Section 18.11.     Execution
in Counterparts. This Indenture may be executed in any number of counterparts, each
of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The exchange of copies
of this Indenture and of signature pages by facsimile, PDF or other electronic transmission shall constitute effective execution and delivery
of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties
hereto transmitted by facsimile, PDF or other electronic transmission shall constitute effective execution and delivery of this Indenture
as to the other parties hereto shall be deemed to be their original signatures for all purposes.

 

All notices, approvals, consents, requests and any
communications hereunder must be in writing (provided that any communication sent to Trustee hereunder that is required to be signed must
be in the form of a document that is signed manually or by way of a digital signature provided by DocuSign (or such other digital signature
provider as specified in writing to Trustee by the Company)), in English. The Company agrees to assume all risks arising out of the use
of digital signatures and electronic methods to submit communications to Trustee, including, without limitation, the risk of the Trustee
acting on unauthorized instructions, and the risk of interception and misuse by third parties.

 

Section 18.12.     Severability. In
the event any provision of this Indenture or in the Notes shall be invalid, illegal or unenforceable, then (to the extent permitted by
law) the validity, legality or enforceability of the remaining provisions shall not in any way be affected or impaired.

 

Section 18.13.     Waiver
of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING
TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section 18.14.     Force
Majeure. In no event shall the Trustee be responsible or liable for any failure or
delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control,
including, without limitation, strikes, work stoppages, accidents, epidemics, pandemics, acts of war or terrorism, civil or military disturbances,
nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software
and hardware) services; it being understood that the Trustee shall use reasonable efforts that are consistent with accepted practices
in the banking industry to resume performance as soon as practicable under the circumstances.

 

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Section
18.15. Calculations. Except as otherwise provided herein, the Company shall
be responsible for making all calculations called for under the Notes. These calculations include, but are not limited to,
determinations of the Redemption Price, Last Reported Sale Prices of the Common Stock, the Daily VWAPs, the Daily Conversion Values,
the Daily Settlement Amounts, accrued interest payable on the Notes, any Additional Interest payable on the Notes, the Conversion
Rate of the Notes, and the Trading Price of the Notes for purposes of determining whether the Notes are convertible as described in
this Indenture. The Company shall make all of these calculations in good faith and, absent manifest error, the Company’s
calculations shall be final and binding on Holders of Notes. The Company shall provide a schedule of its calculations to each of the
Trustee and the Conversion Agent, and each of the Trustee and Conversion Agent is entitled to rely conclusively upon the accuracy of
the Company’s calculations without independent verification. The Company will forward its calculations to any Holder of Notes
upon the written request of that Holder.

 

Section 18.16.     USA
PATRIOT Act. The parties hereto acknowledge that in accordance with Section 326 of
the USA PATRIOT Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering,
is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens
an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request
in order for the Trustee to satisfy the requirements of the USA PATRIOT Act.

 

[Remainder of page intentionally left blank]

 

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

 

	 	[●]
	 	 
	 	By:	
	 	Name: 	[Rajat Suri]
	 	Title:	[Chief Executive Officer]

 

	 	U.S. Bank National Association, as

Trustee
	 	By:	           
	 	Name:	 
	 	Title:	 

 

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EXHIBIT
A

 

[FORM OF FACE OF NOTE]

 

[INCLUDE FOLLOWING LEGEND IF A GLOBAL NOTE]

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“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 HEREUNDER 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 INASMUCH
AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

 

[INCLUDE FOLLOWING LEGEND IF A RESTRICTED SECURITY]

 

[THIS SECURITY AND THE COMMON STOCK, IF ANY, ISSUABLE UPON CONVERSION
OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT
BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE ACQUIRER:

 

AGREES FOR THE BENEFIT OF [●] (THE “COMPANY”)
THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS SECURITY OR ANY BENEFICIAL INTEREST HEREIN PRIOR TO THE DATE THAT IS THE
LATER OF (X) ONE YEAR AFTER THE LAST ORIGINAL ISSUE DATE HEREOF OR SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144 UNDER THE SECURITIES
ACT OR ANY SUCCESSOR PROVISION THERETO AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW, EXCEPT:

 

	 	(A)	TO THE COMPANY OR ANY SUBSIDIARY THEREOF, OR
	 	 	 
	 	(B)	PURSUANT TO A REGISTRATION STATEMENT THAT HAS BECOME EFFECTIVE UNDER THE SECURITIES ACT AND IS EFFECTIVE AT THE TIME OF SUCH TRANSFER, OR
	 	 	 
	 	(C)	TO A PERSON REASONABLY BELIEVED TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, OR
	 	 	 
	 	(D)	PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT OR ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

PRIOR TO THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE
WITH CLAUSE (2)(D) ABOVE, THE COMPANY AND THE TRUSTEE RESERVE THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS
OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER FOR THE COMPANY TO DETERMINE THAT THE PROPOSED TRANSFER IS BEING MADE IN COMPLIANCE
WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF ANY EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

NO AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF [●]
OR PERSON THAT HAS BEEN AN AFFILIATE (AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT) OF [●] DURING THE PRECEDING THREE MONTHS MAY
PURCHASE, OTHERWISE ACQUIRE OR HOLD THIS SECURITY OR A BENEFICIAL INTEREST HEREIN.]15

 

 

	15	The Restrictive Legend shall be deemed removed from the face
of this Note without further action by the Company, Trustee or the Holders of this Note at such time and in the manner provided under
Section 2.05 of the Indenture.

 

    85

     

    

 

[●]

 

15.0% Cash + 5.0% PIK Convertible Senior Notes
due 2026

 

No. [_] [Initially]16 $[_]17

 

CUSIP No. [_]18

 

[●], a corporation duly organized and validly existing under the
laws of the State of Delaware (the “Company,” which term includes any successor corporation or other entity under the
Indenture referred to on the reverse hereof), for value received hereby promises to pay to [CEDE & CO.]19 [_]20,
or registered assigns, the principal sum [as set forth in the “Schedule of Exchanges of Notes” attached hereto]21 [of
$[_]]22, which amount, taken together with the principal amounts of all other outstanding Notes, shall not, unless permitted
by the Indenture, exceed $25,000,000 (excluding PIK Notes), in accordance with the rules and applicable procedures of the Depositary,
on [●], 2026, and interest thereon as set forth below.

 

The Company shall pay Cash Interest and PIK Interest on each Interest
Payment Date at an interest rate of 20.0% per annum on the principal amount of this Note from [●], 2022 until maturity. Cash Interest
on this Note shall accrue at the rate of 15.0% per annum and shall be payable in cash. PIK Interest on this Note shall accrue, compounding
on each Interest Payment Date, at the rate of 5.0% per annum and shall be payable either (x) by increasing the principal amount of the
outstanding Note by an amount equal to the amount of PIK Interest for the applicable interest period (rounded up to the nearest $1.00)
or (y) if the Notes are no longer held as Global Notes, by issuing PIK Notes in certificated form in an aggregate principal amount equal
to the amount of PIK Interest for the period (rounded up to the nearest $1.00), and the Trustee will, at the request of the Company, authenticate
and deliver such PIK Notes in certificated form for original issuance to the Holders on the relevant Regular Record Date, as shown by
the records of the register of Holders. Following an increase in the principal amount of the outstanding Global Notes as a result of a
PIK Payment, the Global Notes will bear interest on such increased principal amount from and after the date of such PIK Payment. All Notes
issued pursuant to a PIK Payment will mature on the Maturity Date and will be governed by, and subject to the terms, provisions and conditions
of, the Indenture and shall have the same rights and benefits as Notes issued on the Last Original Issue Date. Any certificated PIK Notes
will be issued with the description “PIK” on the face of such PIK Note. Unless the context requires otherwise, references
to Notes or the “principal” or the “principal amount” of Notes including for any purpose includes any increase
in the principal amount of the Notes as a result of a PIK Payment.

 

Interest is payable quarterly in arrears on each March 15, June 15,
September 15 and December 15, commencing on [●], 2022, to Holders of record at the close of business on the preceding March 1, June
1, September 1 and December 1 (whether or not such day is a Business Day), respectively. Additional Interest will be payable as set forth
in Section 4.06(d) and Section 6.03 of the within-mentioned Indenture, and any reference to interest on, or in respect
of, any Note therein shall be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable
pursuant to any of such Section 4.06(d) or Section 6.03, and any express mention of the payment of Additional Interest
in any provision therein shall not be construed as excluding Additional Interest in those provisions thereof where such express mention
is not made.

 

Any Defaulted Amounts shall accrue interest per annum at the rate borne
by the Notes, subject to the enforceability thereof under applicable law, from, and including, the relevant payment date to, but excluding,
the date on which such Defaulted Amounts shall have been paid in cash by the Company, at its election, in accordance with Section
2.03(c) of the Indenture.

 

 

 

	16	Include if a global note.

	17	To be broken into multiple global notes.

	18	This Note will be deemed to be identified by CUSIP No. [_]
from and after such time when (i) the Company delivers, pursuant to Section 2.05(c) of the within-mentioned Indenture, written notice
to the Trustee of the occurrence of the Resale Restriction Termination Date and the removal of the restrictive legend affixed to this
Note and (ii) this Note is identified by such CUSIP number in accordance with the applicable procedures of the Depositary.

	19	Include if a global note.

	20	Include if a physical note.

	21	Include if a global note.

	22	Include if a physical note.

 

    86

     

    

 

The Company shall pay the principal of, premium (if any) and any Cash
Interest and Applicable Premium on each Note, if and so long as such Note is a Global Note, in immediately available funds to the Depositary
or its nominee, as the case may be, as the registered Holder of such Note. The Company shall also pay PIK Interest as described above.
As provided in and subject to the provisions of the Indenture, the Company shall pay the principal of and premium (if any) on any Notes
(other than Notes that are Global Notes) at the office or agency designated by the Company for that purpose. The Company has initially
designated the Trustee as its Paying Agent and Note Registrar in respect of the Notes and its agency in the United States, as a place
where Notes may be presented for payment or for registration of transfer and exchange.

 

Reference is made to the further provisions of this Note set forth
on the reverse hereof, including, without limitation, provisions giving the Holder of this Note the right to convert this Note into cash,
shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, on the terms and subject to the limitations
set forth in the Indenture. Such further provisions shall for all purposes have the same effect as though fully set forth at this place.

 

This Note, and any claim, controversy or dispute arising under or
related to this Note, shall be construed in accordance with and governed by the laws of the State of New York.

 

In the case of any conflict between this Note and the Indenture, the
provisions of the Indenture shall control and govern.

 

This Note shall not be valid or become obligatory for any purpose until
the certificate of authentication hereon shall have been signed manually by the Trustee or a duly authorized authenticating agent under
the Indenture.

 

[Remainder of page intentionally left blank]

 

    87

     

    

 

IN WITNESS WHEREOF, the Company has caused this
Note to be duly executed.

 

	 	[●]	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

Dated:

 

TRUSTEE’S CERTIFICATE OF

AUTHENTICATION

 

U.S. Bank National Association

as Trustee, certifies that this is one of the Notes described

in the within-named Indenture.

 

By: __________________________________

Authorized Signatory

 

    88

     

    

 

[FORM OF REVERSE OF NOTE]

 

[●]

15.0% Cash + 5.0% PIK Convertible Senior Notes due 2026

 

This Note is one of a duly authorized issue of Notes of the Company,
designated as its 15.0% Cash + 5.0% PIK Convertible Senior Notes due 2026 (the “Notes”), limited to the aggregate
principal amount of $25,000,000 (excluding PIK Notes), all issued under and pursuant to an Indenture dated as of [●], 2022 (the “Indenture”),
between the Company and U.S. Bank National Association (the “Trustee”), to which Indenture and all indentures
supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities
thereunder of the Trustee, the Company and the Holders of the Notes. Additional Notes may be issued in an aggregate principal amount not
to exceed $25,000,000, subject to certain conditions specified in the Indenture. Capitalized terms used in this Note and not defined in
this Note shall have the respective meanings set forth in the Indenture.

 

In case certain Events of Default shall have occurred and be continuing,
the principal of, and interest on, all Notes may be declared, by either the Trustee or Holders of at least 25% in aggregate principal
amount of Notes then outstanding, and upon said declaration shall become, due and payable, in the manner, with the effect and subject
to the conditions and certain exceptions set forth in the Indenture.

 

The Company will pay cash amounts in money of the United States that
at the time of payment is legal tender for payment of public and private debts.

 

The Indenture contains provisions permitting the Company and the Trustee
in certain circumstances, without the consent of the Holders of the Notes, and in certain other circumstances, with the consent of the
Holders of not less than a majority in aggregate principal amount of the Notes at the time outstanding (including, without limitation,
additional Notes and PIK Notes), evidenced as in the Indenture provided, to execute supplemental indentures modifying the terms of the
Indenture and the Notes as described therein. It is also provided in the Indenture that, subject to certain exceptions, the Holders of
a majority in aggregate principal amount of the Notes at the time outstanding (including, without limitation, additional Notes and PIK
Notes) may on behalf of the Holders of all of the Notes waive any past Default or Event of Default under the Indenture and its consequences.

 

Each Holder shall have the right to receive payment or delivery as
described in the Indenture.

 

    89

     

    

 

The Notes are issuable in registered form without coupons in denominations
of $1,000 principal amount and integral multiples thereof, subject to the issuance of PIK Notes or the increase in the principal amount
of a Global Note in order to evidence PIK Payments, which PIK Notes or increased principal amount of a Global Note will be in denominations
of $1.00 and integral multiples of $1.00 in excess thereof. At the office or agency of the Company referred to on the face hereof, and
in the manner and subject to the limitations provided in the Indenture, Notes may be exchanged for a like aggregate principal amount of
Notes of other authorized denominations, without payment of any service charge but, if required by the Company or Trustee, with payment
of a sum sufficient to cover any transfer or similar tax that may be imposed in connection therewith as a result of the name of the Holder
of the new Notes issued upon such exchange of Notes being different from the name of the Holder of the old Notes surrendered for such
exchange.

 

The Notes shall be redeemable at the Company’s option in accordance
with the terms and subject to the conditions specified in the Indenture. No sinking fund is provided for the Notes.

 

Upon the occurrence of a Fundamental Change, the Holder has the right,
at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes or any portion thereof (in
principal amounts of $1,000 or integral multiples thereof) on the Fundamental Change Repurchase Date at a price equal to the Fundamental
Change Repurchase Price.

 

The Company is, subject to certain conditions and exceptions, obligated
to make a Net Proceeds Offer to all Holders to purchase that amount of Notes equal to Excess Proceeds at a price equal to 100% of their
principal amount, plus accrued and unpaid interest thereon, if any, to but not including the date of purchase, with Excess Proceeds, in
each case, of certain sales or other dispositions of assets in accordance with the Indenture.

 

Subject to the provisions of the Indenture, the Holder hereof has the
right, at its option, during certain periods and upon the occurrence of certain conditions specified in the Indenture, prior to the close
of business on the second Scheduled Trading Day immediately preceding the Maturity Date, to convert any Notes or portion thereof that
is $1,000 or an integral multiple thereof, into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable,
at the Conversion Rate specified in the Indenture, as adjusted from time to time as provided in the Indenture.

 

    90

     

    

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription of the face
of this Note, shall be construed as though they were written out in full according to applicable laws or regulations:

 

TEN COM = as tenants in common

 

UNIF GIFT MIN ACT = Uniform Gifts to Minors Act

 

CUST = Custodian

 

TEN ENT = as tenants by the entireties

 

JT TEN = joint tenants with right of survivorship and not as tenants
in common

 

Additional abbreviations may also be used though not in the above list.

 

    91

     

    

 

SCHEDULE A23

 

SCHEDULE OF EXCHANGES OF NOTES

 

[●]

15.0% Cash + 5.0% PIK Convertible Senior Notes due 2026

 

The initial principal amount of this Global Note is DOLLARS ($[__]).
The following increases (including for PIK Interest) or decreases in this Global Note have been made:

 

	Date of exchange	 	Amount of decrease

 in principal amount 

of this Global Note	 	Amount of increase

 in principal amount

 of this Global Note	 	Principal amount of

 this Global Note

 following such

 decrease or increase	 	Signature of

 authorized signatory

 of Trustee or Custodian
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

 

	23	Include if a global note.

 

    92

     

    

 

ATTACHMENT 1

 

[FORM OF NOTICE OF CONVERSION]

 

To: U.S. Bank National Association, as Trustee

[●]24

Attention: [●]

 

The undersigned registered owner of this Note hereby exercises the
option to convert this Note, or the portion hereof (that is $1,000 principal amount or an integral multiple thereof) below designated,
into cash, shares of Common Stock or a combination of cash and shares of Common Stock, as applicable, in accordance with the terms of
the Indenture referred to in this Note, and directs that any cash payable and any shares of Common Stock issuable and deliverable upon
such conversion, together with any cash for any fractional share, and any Notes representing any unconverted principal amount hereof,
be issued and delivered to the registered Holder hereof unless a different name has been indicated below. If any shares of Common Stock
or any portion of this Note not converted are to be issued in the name of a Person other than the undersigned, the undersigned will pay
all documentary, stamp or similar issue or transfer taxes, if any in accordance with Section 14.02(d) and Section 14.02(e) of
the Indenture. Any amount required to be paid to the undersigned on account of interest accompanies this Note. Capitalized terms used
herein but not defined shall have the meanings ascribed to such terms in the Indenture.

 

	Dated:	                          	 	 	 
	 	 	 	 
	 	 	Signature(s)	 
	 	 	 	 
	Signature Guarantee	 	 	 

 

	Signature(s) must be guaranteed by an eligible guarantor institution (banks, stock brokers, savings and loan associations and credit unions) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15 if shares of Common Stock are to be issued, or Notes are to be delivered, other than to and in the name of the registered holder.	 	 

 

 

	24	Note to Draft: Trustee to provide.

 

    93

     

    

 

	Fill in for registration of shares if to be issued, and Notes if to be delivered, other than to and in the name of the registered holder:	 	 
	 	 	 
	 	 	 
	(Name)	 	 
	 	 	 
	 	 	 
	(Street Address)	 	 
	 	 	 
	 	 	 
	(City, State and Zip Code)

Please print name and address	 	 
	 	 	 
	 	 	
    Principal amount to be converted (if less than all):

    $             ,000

     

    NOTICE: The above signature(s) of the Holder(s) hereof must correspond
    with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

     

    Social Security or Other Taxpayer

    Identification Number

     

 

    94

     

    

 

ATTACHMENT
2

 

[FORM OF FUNDAMENTAL CHANGE REPURCHASE NOTICE]

 

To: U.S. Bank National Association, as Trustee

[●]25 

Attention: [●]

 

The undersigned registered owner of this Note hereby acknowledges receipt
of a notice from [●] (the “Company”) as to the occurrence of a Fundamental Change with respect to the Company
and specifying the Fundamental Change Repurchase Date and requests and instructs the Company to pay to the registered holder hereof in
accordance with Section 15.02 of the Indenture referred to in this Note (1) the entire principal amount of this Note, or the
portion thereof (that is $1,000 principal amount or an integral multiple thereof) below designated, and (2) if such Fundamental Change
Repurchase Date does not fall during the period after a Regular Record Date and on or prior to the corresponding Interest Payment Date,
accrued and unpaid interest, if any, thereon to, but excluding, such Fundamental Change Repurchase Date. Capitalized terms used herein
but not defined shall have the meanings ascribed to such terms in the Indenture.

 

In the case of Physical Notes, the certificate numbers of the Notes
to be repurchased are as set forth below:

 

	Dated:	 	 	 
	 	 	Signature(s)
	 	 	Social Security or Other Taxpayer

Identification Number
	 	 	 
	 	 	Principal amount to be repaid (if less than all):

$ ,000
	 	 	 
	 	 	NOTICE: The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

 

 

	25	Note to Draft: Trustee to provide.

 

    95

     

    

 

ATTACHMENT
3

 

[FORM OF ASSIGNMENT AND TRANSFER]

 

For value received hereby sell(s), assign(s) and transfer(s) unto (Please
insert social security or Taxpayer Identification Number of assignee) the within Note, and hereby irrevocably constitutes and appoints
attorney to transfer the said Note on the books of the Company, with full power of substitution in the premises.

 

In connection with any transfer of the within Note occurring prior
to the Resale Restriction Termination Date, as defined in the Indenture governing such Note, the undersigned confirms that such Note is
being transferred:

 

	☐	To [●] or a subsidiary thereof; or

 

	☐	Pursuant to a registration statement that has become or been
declared effective under the Securities Act of 1933, as amended; or

 

	☐	Pursuant to and in compliance with Rule 144A under the Securities
Act of 1933, as amended; or

 

	☐	Pursuant to and in compliance with Rule 144 under the Securities
Act of 1933, as amended, or any other available exemption from the registration requirements of the Securities Act of 1933, as amended.

 

	Dated:	       	 
	 	 	 
	 	 
	 	 
	 	 
	Signature(s)	 
	 	 
	 	 
	Signature Guarantee	 
	Signature(s) must be guaranteed by an eligible guarantor institution (banks, stock brokers, savings and loan associations and credit unions) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15 if Notes are to be delivered, other than to and in the name of the registered holder.	 

 

NOTICE: The signature on the assignment must correspond with the name
as written upon the face of the Note in every particular without alteration or enlargement or any change whatever.

 

 

96

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