Document:

Form of Debt Indenture

 Exhibit 4.8 

 
  
 ENDOCYTE, INC, 
 Issuer 

AND 

[—], 

Trustee 
  

 
 INDENTURE

 Dated as of [—], 20[—] 
  

 
 Debt
Securities 
  
  

							
	TABLE OF CONTENTS	  
	 	 	Page	 
	 ARTICLE 1 DEFINITIONS
	 	 	1	  
	 Section 1.01
	    	Definitions of Terms	 	 	1	  
		
	 ARTICLE 2 ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES
	 	 	4	  
	 Section 2.01
	    	Designation and Terms of Securities	 	 	4	  
	 Section 2.02
	    	Form of Securities and Trustee’s Certificate	 	 	6	  
	 Section 2.03
	    	Denominations: Provisions for Payment	 	 	6	  
	 Section 2.04
	    	Execution and Authentications	 	 	7	  
	 Section 2.05
	    	Registration of Transfer and Exchange	 	 	8	  
	 Section 2.06
	    	Temporary Securities	 	 	9	  
	 Section 2.07
	    	Mutilated, Destroyed, Lost or Stolen Securities	 	 	9	  
	 Section 2.08
	    	Cancellation	 	 	10	  
	 Section 2.09
	    	Benefits of Indenture	 	 	10	  
	 Section 2.10
	    	Authenticating Agent	 	 	10	  
	 Section 2.11
	    	Global Securities	 	 	11	  
		
	 ARTICLE 3 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS
	 	 	11	  
	 Section 3.01
	    	Redemption	 	 	11	  
	 Section 3.02
	    	Notice of Redemption	 	 	11	  
	 Section 3.03
	    	Payment Upon Redemption	 	 	12	  
	 Section 3.04
	    	Sinking Fund	 	 	13	  
	 Section 3.05
	    	Satisfaction of Sinking Fund Payments with Securities	 	 	13	  
	 Section 3.06
	    	Redemption of Securities for Sinking Fund	 	 	13	  
		
	 ARTICLE 4 COVENANTS
	 	 	13	  
	 Section 4.01
	    	Payment of Principal, Premium and Interest	 	 	13	  
	 Section 4.02
	    	Maintenance of Office or Agency	 	 	14	  
	 Section 4.03
	    	Paying Agents	 	 	14	  
	 Section 4.04
	    	Appointment to Fill Vacancy in Office of Trustee	 	 	15	  
	 Section 4.05
	    	Compliance with Consolidation Provisions	 	 	15	  
		
	 ARTICLE 5 SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE
	 	 	15	  
	 Section 5.01
	    	Company to Furnish Trustee Names and Addresses of Securityholders	 	 	15	  
	 Section 5.02
	    	Preservation Of Information; Communications With Securityholders	 	 	15	  
	 Section 5.03
	    	Reports by the Company	 	 	15	  
	 Section 5.04
	    	Reports by the Trustee	 	 	16	  
		
	 ARTICLE 6 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT
	 	 	16	  
	 Section 6.01
	    	Events of Default	 	 	16	  
	 Section 6.02
	    	Collection of Indebtedness and Suits for Enforcement by Trustee	 	 	17	  
	 Section 6.03
	    	Application of Moneys Collected	 	 	18	  
	 Section 6.04
	    	Limitation on Suits	 	 	19	  
	 Section 6.05
	    	Rights and Remedies Cumulative; Delay or Omission Not Waiver	 	 	19	  
	 Section 6.06
	    	Control by Securityholders	 	 	19	  
	 Section 6.07
	    	Undertaking to Pay Costs	 	 	20	  

  
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	 ARTICLE 7 CONCERNING THE TRUSTEE
	 	 	20	  
	 Section 7.01
	    	Certain Duties and Responsibilities of Trustee	 	 	20	  
	 Section 7.02
	    	Certain Rights of Trustee	 	 	21	  
	 Section 7.03
	    	Trustee Not Responsible for Recitals or Issuance of Securities	 	 	23	  
	 Section 7.04
	    	May Hold Securities	 	 	23	  
	 Section 7.05
	    	Moneys Held in Trust	 	 	23	  
	 Section 7.06
	    	Compensation and Reimbursement	 	 	23	  
	 Section 7.07
	    	Reliance on Officer’s Certificate	 	 	24	  
	 Section 7.08
	    	Disqualification; Conflicting Interests	 	 	24	  
	 Section 7.09
	    	Corporate Trustee Required; Eligibility	 	 	24	  
	 Section 7.10
	    	Resignation and Removal; Appointment of Successor	 	 	24	  
	 Section 7.11
	    	Acceptance of Appointment By Successor	 	 	25	  
	 Section 7.12
	    	Merger, Conversion, Consolidation or Succession to Business	 	 	26	  
	 Section 7.13
	    	Preferential Collection of Claims Against the Company	 	 	26	  
	 Section 7.14
	    	Notice of Default	 	 	26	  
		
	 ARTICLE 8 CONCERNING THE SECURITYHOLDERS
	 	 	27	  
	 Section 8.01
	    	Evidence of Action by Securityholders	 	 	27	  
	 Section 8.02
	    	Proof of Execution by Securityholders	 	 	27	  
	 Section 8.03
	    	Who May be Deemed Owners	 	 	27	  
	 Section 8.04
	    	Certain Securities Owned by Company Disregarded	 	 	28	  
	 Section 8.05
	    	Actions Binding on Future Securityholders	 	 	28	  
		
	 ARTICLE 9 SUPPLEMENTAL INDENTURES
	 	 	28	  
	 Section 9.01
	    	Supplemental Indentures Without the Consent of Securityholders	 	 	28	  
	 Section 9.02
	    	Supplemental Indentures With Consent of Securityholders	 	 	29	  
	 Section 9.03
	    	Effect of Supplemental Indentures	 	 	29	  
	 Section 9.04
	    	Securities Affected by Supplemental Indentures	 	 	30	  
	 Section 9.05
	    	Execution of Supplemental Indentures	 	 	30	  
		
	 ARTICLE 10 SUCCESSOR ENTITY
	 	 	30	  
	 Section 10.01
	    	Company May Consolidate, Etc.	 	 	30	  
	 Section 10.02
	    	Successor Entity Substituted	 	 	30	  
		
	 ARTICLE 11 SATISFACTION AND DISCHARGE
	 	 	31	  
	 Section 11.01
	    	Satisfaction and Discharge of Indenture	 	 	31	  
	 Section 11.02
	    	Discharge of Obligations	 	 	31	  
	 Section 11.03
	    	Deposited Moneys to be Held in Trust	 	 	32	  
	 Section 11.04
	    	Payment of Moneys Held by Paying Agents	 	 	32	  
	 Section 11.05
	    	Repayment to Company	 	 	32	  
		
	 ARTICLE 12 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	 	 	32	  
	 Section 12.01
	    	No Recourse	 	 	32	  
		
	 ARTICLE 13 MISCELLANEOUS PROVISIONS
	 	 	33	  
	 Section 13.01
	    	Effect on Successors and Assigns	 	 	33	  
	 Section 13.02
	    	Actions by Successor	 	 	33	  
	 Section 13.03
	    	Surrender of Company Powers	 	 	33	  
	 Section 13.04
	    	Notices	 	 	33	  
	 Section 13.05
	    	Governing Law	 	 	33	  

  
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	 Section 13.06
	    	Treatment of Securities as Debt	 	 	33	  
	 Section 13.07
	    	Certificates as to Conditions Precedent	 	 	33	  
	 Section 13.08
	    	Payments on Business Days	 	 	34	  
	 Section 13.09
	    	Conflict with Trust Indenture Act	 	 	34	  
	 Section 13.10
	    	Counterparts	 	 	34	  
	 Section 13.11
	    	Separability	 	 	34	  
	 Section 13.12
	    	Compliance Certificates	 	 	34	  
	 Section 13.13
	    	U.S.A. Patriot Act	 	 	35	  
	 Section 13.14
	    	Force Majeure	 	 	35	  
	 Section 13.15
	    	Table of Contents; Headings	 	 	35	  

  

	(1)	This Table of Contents does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.

  
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 INDENTURE 
 Indenture, dated as of [—], 20[—], among Endocyte, Inc., a
Delaware corporation (the “Company”), and [—], as trustee (the “Trustee”): 
 Whereas, for its lawful corporate purposes, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of debt securities (hereinafter referred to as
the “Securities”), in an unlimited aggregate principal amount to be issued from time to time in one or more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of the
Trustee; 
 Whereas, to provide the terms and conditions upon which the Securities are to be authenticated, issued and
delivered, the Company has duly authorized the execution of this Indenture; and 
 Whereas, all things necessary to make
this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
 Now, Therefore, in
consideration of the premises and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities: 

ARTICLE 1 

DEFINITIONS 
  

	Section 1.01	Definitions of Terms. 

The terms defined in this Section (except as in this Indenture or any indenture supplemental hereto 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 and shall include the plural as well as the singular. All other terms
used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended, or that are by reference in such Act defined in the Securities Act of 1933, as amended (except as herein or any indenture supplemental hereto otherwise expressly
provided or unless the context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as in force at the date of the execution of this instrument. 

“Authenticating Agent” means an authenticating agent with respect to all or any of the series of Securities
appointed by the Trustee pursuant to Section 2.10. 
 “Bankruptcy Law” means Title 11, U.S. Code,
or any similar federal or state law for the relief of debtors. 
 “Board of Directors” means the Board
of Directors (or the functional equivalent thereof) of the Company or any duly authorized committee of such Board. 

“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 (or duly authorized committee thereof) and to be in full force and effect on the date of such certification. 
 “Business Day” means, with respect to any series of Securities, any day other than a day on which federal or state banking institutions in the Borough of Manhattan, the City of New
York, or in the city of the Corporate Trust Office of the Trustee, are authorized or obligated by law, executive order or regulation to close. 
 “Certificate” means a certificate signed by any Officer. The Certificate need not comply with the provisions of Section 13.07. 

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

 “Company” means Endocyte, Inc., a corporation duly organized and
existing under the laws of the State of Delaware, and, subject to the provisions of Article Ten, shall also include its successors and assigns. 
 “Corporate Trust Office” means the office of the Trustee at which, at any particular time, its corporate trust business shall be principally administered, which office at the date
hereof is located at                     . 
 “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

“Defaulted Interest” has the meaning set forth in Section 2.03. 

“Depositary” means, with respect to Securities of any series for which the Company shall determine that such
Securities will be issued as a Global Security, The Depository Trust Company, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or other applicable statute or regulation, which, in each case, shall be
designated by the Company pursuant to either Section 2.01 or 2.11. 
 “Event of Default” means,
with respect to Securities of a particular series, any event specified in Section 6.01, continued for the period of time, if any, therein designated. 
 “Exchange Act” means the United States Securities and Exchange Act of 1934, as amended, and the rules and regulations promulgated by the Commission thereunder. 

“Global Security” means a Security issued to evidence all or a part of any series of Securities which is executed
by the Company and authenticated and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary or its nominee.

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

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

“Indenture” means this instrument as originally executed or as it may from time to time be supplemented or
amended by one or more indentures supplemental hereto entered into in accordance with the terms hereof and shall include the terms of particular series of Securities established as contemplated by Section 2.01. 

“Interest Payment Date”, when used with respect to any installment of interest on a Security of a particular
series, means the date specified in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect to Securities of that series is due and
payable. 
 “Officer” means, with respect to the Company, the chairman of the Board of Directors, the
chief executive officer, the president, the chief financial officer, the chief operating officer, any executive vice president, any senior vice president, any vice president, the treasurer or any assistant treasurer, the controller or any assistant
controller or the secretary or any assistant secretary. 

  
 2 

 “Officer’s Certificate” means a certificate signed by any
Officer. Each such certificate shall include the statements provided for in Section 13.07(b), if and to the extent required by the provisions thereof. 
 “Opinion of Counsel” means an opinion in writing subject to customary exceptions of legal counsel, who may be an employee of or counsel for the Company, that is delivered to the
Trustee in accordance with the terms hereof. Each such opinion shall include the statements provided for in Section 13.07(b), if and to the extent required by the provisions thereof. 

“Outstanding”, when used with reference to Securities of any series, means, subject to the provisions of
Section 8.04, as of any particular time, all Securities of that series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled by the Trustee or any paying agent, or delivered
to the Trustee or any paying agent for cancellation or that have previously been canceled; (b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations 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); provided, however, that if such Securities
or portions of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article Three, or provision satisfactory to the Trustee shall have been made for giving such notice; and
(c) Securities in lieu of or in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07. 
 “Person” means any individual, corporation, partnership, joint venture, joint-stock company, limited liability company, association, trust, unincorporated organization, any other
entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of
the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the
same debt as the lost, destroyed or stolen Security. 
 “Responsible Officer” when used with respect to
the Trustee means any officer of the Trustee assigned by the Trustee to administer its corporate trust matters with respect to this Indenture (which, for the avoidance of doubt, includes without limitation any supplemental indenture hereto).

 “Securities” has the meaning stated in the first recital of this Indenture and more particularly
means any Securities authenticated and delivered under this Indenture. 
 “Securities Act” means the
Securities Act of 1933, as amended. 
 “Securityholder”, “holder of Securities”,
“registered holder”, or other similar term, means the Person or Persons in whose name or names a particular Security is registered on the Security Register kept for that purpose in accordance with the terms of this Indenture.

 “Security Register” and “Security Registrar” shall have the meanings as set
forth in Section 2.05. 
 “Subsidiary” means, with respect to any Person: 

(1) any corporation or company a majority of whose capital stock with voting power, under ordinary circumstances, to elect
directors is, at the date of determination, directly or indirectly, owned by such Person (a “subsidiary”), by one or more subsidiaries of such Person or by such Person and one or more subsidiaries of such Person; 

(2) a partnership in which such Person or a subsidiary of such Person is, at the date of determination, a general partner
of such partnership; or 

  
 3 

 (3) any partnership, limited liability company or other Person in which such
Person, a subsidiary of such Person or such Person and one or more subsidiaries of such Person, directly or indirectly, at the date of determination, have (x) at least a majority ownership interest or (y) the power to elect or appoint or
direct the election or appointment of the managing partner or member of such Person or, if applicable, a majority of the directors or other governing body of such Person. 
 “Trustee” means                     , and, subject to the provisions of
Article Seven, shall also include its successors and assigns, and, if at any time there is more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term “Trustee” as used with respect to
a particular series of the Securities shall mean the trustee with respect to that series. 
 “Trust Indenture
Act” means the Trust Indenture Act of 1939, as amended. 
 “U.S.A. Patriot Act” means the
Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56, as amended and signed into law October 26, 2001. 

ARTICLE 2 

ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES 

 

	Section 2.01	Designation and Terms of Securities. 

  

	 	(a)	The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or
more series up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution or pursuant to one or more indentures supplemental hereto. Prior to the initial issuance of Securities of
any series, there shall be established in or pursuant to a Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto: 

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

 (2) any limit upon the aggregate principal amount of the Securities of that series that may be authenticated and
delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of that series); 

(3) the maturity date or dates on which the principal of the Securities of the series is payable; 

(4) the form of the Securities of the series including the form of the certificate of authentication for such series; 

(5) the applicability of any guarantees; 
 (6) whether or not the Securities will be secured or unsecured, and the terms of any secured debt; 
 (7) whether the Securities rank as senior debt, senior subordinated debt, subordinated debt or any combination thereof, and the terms of any subordination; 

(8) if the price (expressed as a percentage of the aggregate principal amount thereof) at which such Securities will be issued is
a price other than the principal amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration of the maturity thereof, or if applicable, the portion of the principal amount of such Securities that is
convertible into another security or the method by which any such portion shall be determined; 

  
 4 

 (9) the interest rate or rates, which may be fixed or variable, or the method for
determining the rate and the date interest will begin to accrue, the dates interest will be payable and the regular record dates for interest payment dates or the method for determining such dates; 

(10) the Company’s right, if any, to defer the payment of interest and the maximum length of any such deferral period;

 (11) if applicable, the date or dates after which, or the period or periods during which, and the price or prices at
which, the Company may at its option, redeem the series of Securities pursuant to any optional or provisional redemption provisions and the terms of those redemption provisions; 

(12) the date or dates, if any, on which, and the price or prices at which the Company is obligated, pursuant to any mandatory
sinking fund or analogous fund provisions or otherwise, to redeem, or at the Securityholder’s option to purchase, the series of Securities and the currency or currency unit in which the Securities are payable; 

(13) the denominations in which the Securities of the series shall be issuable, if other than denominations of one thousand U.S.
dollars ($1,000) or any integral multiple thereof; 
 (14) any and all terms, if applicable, relating to any auction or
remarketing of the Securities of that series and any security for the obligations of the Company with respect to such Securities and any other terms which may be advisable in connection with the marketing of Securities of that series; 

(15) whether the Securities of the series shall be issued in whole or in part in the form of a Global Security or Securities; the
terms and conditions, if any, upon which such Global Security or Securities may be exchanged in whole or in part for other individual Securities; and the Depositary for such Global Security or Securities; 

(16) if applicable, the provisions relating to conversion or exchange of any Securities of the series and the terms and conditions
upon which such Securities will be so convertible or exchangeable, including the conversion or exchange price, as applicable, or how it will be calculated and may be adjusted, any mandatory or optional (at the Company’s option or the
holders’ option) conversion or exchange features, the applicable conversion or exchange period and the manner of settlement for any conversion or exchange, which may, without limitation, include the payment of cash as well as the delivery of
securities; 
 (17) if other than the full principal amount thereof, the portion of the principal amount of Securities of
the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01; 

(18) additions to or changes in the covenants applicable to the series of Securities being issued, including, among others, the
consolidation, merger or sale covenant; 
 (19) additions to or changes in the Events of Default with respect to the
Securities and any change in the right of the Trustee or the Securityholders to declare the principal, premium, if any, and interest, if any, with respect to such Securities to be due and payable; 

(20) additions to or changes in or deletions of the provisions relating to covenant defeasance and legal defeasance; 

(21) additions to or changes in the provisions relating to satisfaction and discharge of this Indenture; 

(22) additions to or changes in the provisions relating to the modification of this Indenture both with and without the consent of
Securityholders of Securities issued under this Indenture; 

  
 5 

 (23) the currency of payment of Securities if other than U.S. dollars and the manner
of determining the equivalent amount in U.S. dollars; 
 (24) whether interest will be payable in cash or additional
Securities at the Company’s or the Securityholders’ option, the terms and conditions upon which the election may be made; 
 (25) the terms and conditions, if any, upon which the Company shall pay amounts in addition to the stated interest, premium, if any and principal amounts of the Securities of the series to any
Securityholder that is not a “United States person” for federal tax purposes; 
 (26) any restrictions on
transfer, sale or assignment of the Securities of the series; and 
 (27) any other specific terms,
preferences, rights or limitations of, or restrictions on, the Securities, any other additions or changes in the provisions of this Indenture, and any terms that may be required by us or advisable under applicable laws or regulations. 

(b) All Securities of any one series shall be substantially identical except as may otherwise be provided in or pursuant to any
such Board Resolution or in any indentures supplemental hereto. 
 If any of the terms of the series are established by action
taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the secretary or an assistant secretary of the Company and delivered to the Trustee at or prior to the delivery of the
Officer’s Certificate of the Company setting forth the terms of the series. 
 Securities of any particular series may be
issued at various times, with different dates on which the principal or any installment of principal is payable, with different rates of interest, if any, or different methods by which rates of interest may be determined, with different dates on
which such interest may be payable and with different redemption dates. 
  

	Section 2.02	Form of Securities and Trustee’s Certificate. 

 The Securities of any series and the Trustee’s certificate of authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one or more indentures
supplemental hereto or as provided in a Board Resolution, and set forth in an Officer’s Certificate, and they may have such letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed
or engraved thereon as the Company may deem appropriate 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 on which Securities of that series may be listed, or to conform to usage. 
  

	Section 2.03	Denominations: Provisions for Payment. 

 The Securities shall be issuable as registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(a)(13). The
Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. Subject to Section 2.01(a)(23), the principal of and the interest on the Securities of any series, as well as any
premium thereon in the case of a redemption or repurchase thereof prior to maturity, and any cash amount due upon the conversion or exchange thereof, shall be payable in the coin or currency of the United States of America that at the time is legal
tender for public and private debt, at the office or agency of the Company in the continental United States of America maintained for that purpose. Each Security shall be dated the date of its authentication. Interest on the Securities shall be
computed on the basis of a 360-day year composed of twelve 30-day months. 
 The interest installment on any Security that is
payable, and is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business
on the regular record date for such interest installment. In the event that any Security of a particular series or portion thereof is called for redemption and the 

  
 6 

 
redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Security will be paid upon presentation
and surrender of such Security as provided in Section 3.03. 
 Any interest on any Security that is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the relevant regular record date by
virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below: 
 (1) The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of
business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security
and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory
to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a
special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the
proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date
therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register (as hereinafter defined), not less than 10 days prior to such special record date. Notice of the proposed payment
of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such
special record date. 
 (2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful
manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment
pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Unless otherwise set forth in a
Board Resolution or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof, the term “regular record date” as used in this Section with respect to a series of
Securities and any Interest Payment Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur,
if such Interest Payment Date is the first day of a month, or the first day of the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth
day of a month, whether or not such date is a Business Day. 
 Subject to the foregoing provisions of this Section, each
Security of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security.

  

	Section 2.04	Execution and Authentications. 

 The Securities shall be signed on behalf of the Company by one of its Officers. Signatures may be in the form of a manual or facsimile signature. 

The Company may use the facsimile signature of any Person who shall have been an Officer (at the time of execution), notwithstanding the
fact that at the time the Securities shall be authenticated and delivered or disposed of such Person shall have ceased to be such an officer of the Company. The Securities may contain such notations, legends or endorsements required by law, stock
exchange rule or usage. Each Security shall be dated the date of its authentication by the Trustee. 

  
 7 

 A Security shall not be valid until authenticated manually by an authorized signatory of the
Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture. At any time
and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a written order of the Company for the authentication
and delivery of such Securities, signed by an Officer, and the Trustee in accordance with such written order shall authenticate and deliver such Securities. 
 Upon the Company’s delivery of any such authentication order to the Trustee at any time after the initial issuance of Securities under this Indenture, the Trustee shall be entitled to receive, and
(subject to Sections 315(a) through 315(d) of the Trust Indenture Act) shall be fully protected in relying upon, (1) an Opinion of Counsel or reliance letter and (2) an Officer’s Certificate stating that all conditions precedent
to the execution, authentication and delivery of such Securities are in conformity with the provisions of this Indenture. 
 The
Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner
that is not reasonably acceptable to the Trustee. 
  

	Section 2.05	Registration of Transfer and Exchange. 

 (a) Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company in the continental United States of America designated for such purpose, for other
Securities of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, all as provided in this Section. In respect of any
Securities so surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in exchange therefor the Security or Securities of the same series that the Securityholder making the exchange
shall be entitled to receive, bearing numbers not contemporaneously outstanding. 
 (b) The Company shall keep, or cause
to be kept at its office or agency in the continental United States of America designated for such purpose a register or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may
prescribe, the Company shall register the Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the purpose of registering Securities
and transfer of Securities as herein provided shall be appointed as authorized by Board Resolution (the “Security Registrar”). 
 Upon surrender for transfer of any Security at the office or agency of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office or agency shall
deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented for a like aggregate principal amount. 
 All Securities presented or surrendered for exchange or registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar) by a written
instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the registered holder or by such holder’s duly authorized attorney in writing. 

(c) Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officer’s
Certificate, or established in one or more indentures supplemental to this Indenture, no service charge shall be made for any exchange or registration of transfer of Securities, or issue of new Securities in case of partial redemption of any series
or repurchase, conversion or exchange of less than the entire principal amount of a Security, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, other than exchanges pursuant to
Section 2.06, Section 3.03(b) and Section 9.04 not involving any transfer. 

  
 8 

 (d) The Company shall not be required (i) to issue, exchange or register the
transfer of any Securities during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities of the same series and ending at the close of business on the
day of such mailing, nor (ii) to register the transfer of or exchange any Securities of any series or portions thereof called for redemption or surrendered for repurchase, but not validly withdrawn, other than the unredeemed portion of any such
Securities being redeemed in part or not surrendered for repurchase, as the case may be. The provisions of this Section 2.05 are, with respect to any Global Security, subject to Section 2.11 hereof. 

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

	Section 2.06	Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute, and the Trustee shall authenticate and deliver,
temporary Securities (printed, lithographed or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which they are issued, but with such omissions,
insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the Trustee upon the same conditions
and in substantially the same manner, and with like effect, as the definitive Securities of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon any or all temporary
Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency of the Company in the continental United States of America designated for the purpose, and the Trustee shall authenticate and
such office or agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that definitive Securities need not be
executed and furnished until further notice from the Company. Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated and delivered
hereunder. 
  

	Section 2.07	Mutilated, Destroyed, Lost or Stolen Securities. 

 In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company’s
request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in
substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, and,
in every case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s Security and of the ownership thereof. The Trustee
may authenticate any such substituted Security and deliver the same upon the written request or authorization of any officer of the Company. Upon the issuance of any substituted Security, the Company may require the payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 In case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment
of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless, and, in case of
destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof. 

  
 9 

 Every replacement Security issued pursuant to the provisions of this Section shall
constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture
equally and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the
replacement or payment of negotiable instruments or other securities without their surrender. 
  

	Section 2.08	Cancellation. 

 All
Securities surrendered for the purpose of payment, redemption, repurchase, exchange, registration of transfer or conversion or exchange shall, if surrendered to the Company or any paying agent (or any other applicable agent), be delivered to the
Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly required or permitted by any of the provisions of this Indenture. On request of the Company
at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee may dispose of canceled Securities in accordance with its standard procedures and deliver a
certificate of disposition to the Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until
the same are delivered to the Trustee for cancellation. 
  

	Section 2.09	Benefits of Indenture. 

Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other than the
parties hereto and the holders of the Securities, any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and provisions
being for the sole benefit of the parties hereto and of the holders of the Securities. 
  

	Section 2.10	Authenticating Agent. 

So long as any of the Securities of any series remain Outstanding there may be an Authenticating Agent for any or all such series of
Securities which the Trustee shall have the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or partial redemption, repurchase or
conversion thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to the
authentication of Securities by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital and
surplus, as most recently reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to
conduct such business and is subject to supervision or examination by federal or state authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately. 

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 (and upon request by the Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon resignation, termination or cessation of
eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the
rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto. 

  
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	Section 2.11	Global Securities. 

(a) If the Company shall establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as a
Global Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.04, authenticate and deliver, a Global Security that (i) shall represent, and shall be denominated in an amount equal to the aggregate
principal amount of, all of the Outstanding Securities of such series, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s
instruction (or if the Depositary names the Trustee as its custodian, retained by the Trustee) and (iv) shall bear a legend substantially to the following effect: “Except as otherwise provided in Section 2.11 of the Indenture, this
Security may be transferred, in whole but not in part, only to another nominee of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.” 

(b) Notwithstanding the provisions of Section 2.05, the Global Security of a series may be transferred, in whole but not in
part and in the manner provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary for such series selected or approved by the Company or to a nominee of such successor Depositary.

 (c) If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable
to continue as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor Depositary for such
series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, or if an Event of Default has occurred and is continuing and the Company has received a request from
the Depositary or from the Trustee, this Section 2.11 shall no longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.04, the Trustee will authenticate and deliver the Securities of
such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. In addition, the
Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such event the
Company will execute and, subject to Section 2.04, the Trustee, upon receipt of an Officer’s Certificate evidencing such determination by the Company, will authenticate and deliver the Securities of such series in definitive registered
form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. Upon the exchange of the Global Security for such
Securities in definitive registered form without coupons, in authorized denominations, the Global Security shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global Security pursuant to this
Section 2.11(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, shall instruct the Trustee. The Trustee shall deliver such
Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered. 
 ARTICLE 3

 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS 

 

	Section 3.01	Redemption. 

 The Company
may redeem the Securities of any series issued hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section 2.01 hereof. 

 

	Section 3.02	Notice of Redemption. 

(a) In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of
any series in accordance with any right the Company reserved for itself to do so pursuant to Section 2.01 hereof, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be
redeemed by mailing, first class postage prepaid (or with regard to any Global Security held in book entry form, by electronic mail), a notice of such redemption not less than 30 days and not 

  
 11 

 
more than 60 days before the date fixed for redemption of that series to such holders at their last addresses as they shall appear upon the Security Register, unless a shorter period is specified
in the Securities to be redeemed. Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice
to the holder of any Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the proceedings for the redemption of any other Securities of such series or any other series.
In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officer’s
Certificate evidencing compliance with any such restriction. 
 Each such notice of redemption shall specify the date fixed for
redemption and the redemption price at which Securities of that series are to be redeemed, and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company in the continental
United States of America, upon presentation and surrender of such Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after said date interest will cease to accrue and that the
redemption is from a sinking fund, if such is the case. If less than all the Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in part shall specify the particular Securities to be so
redeemed. 
 In case any Security is to be redeemed in part only, the notice that relates to such Security shall state the
portion of the principal amount thereof to be redeemed, and shall state that on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed portion thereof
will be issued. 
 (b) If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee
at least 45 days’ notice (unless a shorter notice shall be satisfactory to the Trustee) in advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall
select, by lot or in such other manner as it shall deem appropriate and fair in its discretion and that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any integral multiple thereof) of the
principal amount of such Securities of a denomination larger than $1,000, the Securities to be redeemed and shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole or in part. The Company
may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Officer, instruct the Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to give notice of
redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any
such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts
therefrom, sufficient to enable the Trustee or such paying agent to give any notice by mail that may be required under the provisions of this Section. 
  

	Section 3.03	Payment Upon Redemption. 

(a) If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities of
the series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on
such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security or portion
thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and redeemed at the applicable redemption price for such series,
together with interest accrued thereon to the date fixed for redemption (but if the date fixed for redemption is an Interest Payment Date, the interest installment payable on such date shall be payable to the registered holder at the close of
business on the applicable record date pursuant to Section 2.03). 

  
 12 

 (b) Upon presentation of any Security of such series that is to be redeemed in part
only, the Company shall execute and the Trustee shall authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the Company, a new Security of the same series of authorized
denominations in principal amount equal to the unredeemed portion of the Security so presented. 
  

	Section 3.04	Sinking Fund. 

 The
provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by Section 2.01 for Securities of such series. 

The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a
“mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment”. If provided for by the terms of
Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms
of Securities of such series. 
  

	Section 3.05	Satisfaction of Sinking Fund Payments with Securities. 

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

 

	Section 3.06	Redemption of Securities for Sinking Fund. 

 Not less than 45 days prior to each sinking fund payment date for any series of Securities (unless a shorter period shall be satisfactory to the Trustee), the Company will deliver to the Trustee an
Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that is to be satisfied by delivering and crediting Securities of that series
pursuant to Section 3.05 and the basis for such credit and will, together with such Officer’s Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund payment date the
Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner
provided in Section 3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 3.03. 
 ARTICLE 4 
 COVENANTS 

 

	Section 4.01	Payment of Principal, Premium and Interest. 

 The Company will duly and punctually pay or cause to be paid the principal of (and premium, if any), interest on, and any redemption price or repurchase price for the Securities of that series at the time
and place and in the manner provided herein and established with respect to such Securities. Payments of the principal of, redemption price for or repurchase price for, the Securities may be made at the time provided herein and established with
respect to such Securities by U.S. dollar check drawn on and mailed to the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account if such
Securityholder shall have furnished wire instructions to the Trustee no later than 15 days prior to the relevant payment date. Payments of interest on the Securities may be made at the time provided herein and established with respect to such
Securities by U.S. dollar check mailed to the address of the Securityholder entitled thereto as such 

  
 13 

 
address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account if such Securityholder shall have furnished wire instructions in writing to the Security
Registrar and the Trustee no later than 15 days prior to the relevant payment date. 
  

	Section 4.02	Maintenance of Office or Agency. 

 So long as any series of the Securities remain Outstanding, the Company agrees to maintain an office or agency in the continental United States of America with respect to each such series and at such
other location or locations as may be designated as provided in this Section 4.02, where (i) Securities of that series may be presented for payment, (ii) Securities of that series may be presented as herein above authorized for
registration of transfer and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be given or served, such designation to continue with respect to such office or
agency until the Company shall, by written notice signed by any officer authorized to sign an Officer’s Certificate and delivered to the Trustee, designate some other office or agency for such purposes or any of them. 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, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company
hereby appoints the Trustee as its agent to receive all such presentations, notices and demands. The Company initially appoints the Trustee as its paying agent with respect to the Securities. 

 

	Section 4.03	Paying Agents. 

 (a)
If the Company shall appoint one or more paying agents for all or any series of the Securities, other than the Trustee, the Company will cause each 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: 
 (1) that it will hold all sums held by it as such
agent for the payment of the principal of (and premium, if any) or interest on the Securities of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust for the benefit of the Persons
entitled thereto; 
 (2) that it will give the Trustee notice of any failure by the Company (or by any other obligor of
such Securities) to make any payment of the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable; 
 (3) that it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon the written request of the Trustee, forthwith pay to the Trustee all
sums so held in trust by such paying agent; and 
 (4) that it will perform all other duties of paying agent as set forth
in this Indenture. 
 (b) If the Company shall act as its own paying agent with respect to any series of the Securities,
it will on or before each due date of the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay such principal (and
premium, if any) or interest so becoming due on Securities of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of such action, or any failure (by it or any
other obligor on such Securities) to take such action. Whenever the Company shall have one or more paying agents for any series of Securities, it will, prior to each due date of the principal of (and premium, if any) or interest on any Securities of
that series, deposit with the paying agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and
(unless such paying agent is the Trustee) the Company will promptly notify the Trustee of this action or failure so to act. 

(c) Notwithstanding anything in this Section to the contrary, (i) the agreement to hold sums in trust as provided in this
Section is subject to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or direct any paying agent to pay, to
the Trustee all sums held in trust by the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums were held by the Company or such paying agent; and, upon such payment by the
Company or any paying agent to the Trustee, the Company or such paying agent shall be released from all further liability with respect to such money. 

  
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	Section 4.04	Appointment to Fill Vacancy in Office of Trustee. 

 The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee, so that there shall at all times be a Trustee
hereunder. 
  

	Section 4.05	Compliance with Consolidation Provisions. 

 The Company will not, while any of the Securities remain Outstanding, consolidate with or merge into any other Person, in either case where the Company is not the survivor of such transaction, or sell or
convey all or substantially all of its property to any other Person unless the provisions of Article Ten hereof are complied with. 
 ARTICLE 5 
 SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE
TRUSTEE 
  

	Section 5.01	Company to Furnish Trustee Names and Addresses of Securityholders. 

 The Company will furnish or cause to be furnished to the Trustee (a) within 15 days after each regular record date (as defined in Section 2.03) a list, in such form as the Trustee may reasonably
require, of the names and addresses of the holders of each series of Securities as of such regular record date, provided that the Company shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in
any respect from the most recent list furnished to the Trustee by the Company and (b) at such other times as the Trustee may request in writing within 30 days after the receipt by the Company of any such request, a list of similar form and
content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that, in either case, no such list need be furnished for any series for which the Trustee shall be the Security Registrar. 

 

	Section 5.02	Preservation Of Information; Communications With Securityholders. 

 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the holders of Securities contained in the most recent list
furnished to it as provided in Section 5.01 and as to the names and addresses of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity). 

(b) The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished.

 (c) Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act with other
Securityholders with respect to their rights under this Indenture or under the Securities, and, in connection with any such communications, the Trustee shall satisfy its obligations under Section 312(b) of the Trust Indenture Act in accordance
with the provisions of Section 312(b) of the Trust Indenture Act. 
  

	Section 5.03	Reports by the Company. 

(a) The Company covenants and agrees to provide (which delivery may be via electronic mail) to the Trustee within 30 days, after
the Company files the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations
prescribe) that the Company is required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; provided, however, the Company shall not be required to deliver to the Trustee any correspondence filed with
the SEC or any materials for which the Company has sought and received confidential treatment by the Commission; and provided further, that so long as such filings by the Company are available on the Commission’s Electronic Data Gathering,
Analysis and Retrieval System (EDGAR), or any successor system, such filings shall be deemed to have been filed with the Trustee for purposes hereof without any further action required by the Company. For the avoidance of doubt, a failure by the
Company to file annual reports, information and other reports with the SEC within the time period prescribed thereof by the Commission shall not be deemed a breach of this Section 5.03. 

  
 15 

 (b) Delivery of reports, information and documents to the Trustee under
Section 5.03 is for informational purposes only and the information and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein, or determinable from information contained
therein including the Company’s compliance with any of their covenants thereunder (as to which the Trustee is entitled to rely exclusively on an Officer’s Certificate). 

 

	Section 5.04	Reports by the Trustee. 

(a) If required by Section 313(a) of the Trust Indenture Act, the Trustee, within sixty (60) days after each
                 , commencing                  ,
20    , shall transmit by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register, a brief report dated as of such
                 , which complies with Section 313(a) of the Trust Indenture Act. 

(b) The Trustee shall comply with Section 313(b) and 313(c) of the Trust Indenture Act. 

(c) A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the
Company, with each securities exchange upon which any Securities are listed (if so listed) and also with the Commission. The Company agrees to notify the Trustee when any Securities become listed on any securities exchange. 

ARTICLE 6 

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT 

 

	Section 6.01	Events of Default. 

(a) Whenever used herein with respect to Securities of a particular series, “Event of Default” means any one or more of
the following events that has occurred and is continuing: 
 (1) the Company defaults in the payment of any installment
of interest upon any of the Securities of that series, as and when the same shall become due and payable, and such default continues for a period of 90 days; provided, however, that a valid extension of an interest payment period by the Company in
accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of interest for this purpose; 
 (2) the Company defaults in the payment of the principal of (or premium, if any, on) any of the Securities of that series as and when the same shall become due and payable whether at maturity, upon
redemption, by declaration or otherwise, or in any payment required by any sinking or analogous fund established with respect to that series; provided, however, that a valid extension of the maturity of such Securities in accordance with the terms
of any indenture supplemental hereto shall not constitute a default in the payment of principal or premium, if any; 
 (3)
the Company fails to observe or perform any other of its covenants or agreements with respect to that series contained in this Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof
(other than a covenant or agreement that has been expressly included in this Indenture solely for the benefit of one or more series of Securities other than such series) for a period of 90 days after the date on which written notice of such failure,
requiring the same to be remedied and stating that such notice is a “Notice of Default” hereunder, shall have been given to the Company by the Trustee, by registered or certified mail, or to the Company and the Trustee by the holders of at
least 25% in principal amount of the Securities of that series at the time Outstanding; 
 (4) the Company pursuant to or
within the meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or
substantially all of its property or (iv) makes a general assignment for the benefit of its creditors; or 

  
 16 

 (5) a court of competent jurisdiction enters an order under any Bankruptcy Law that
(i) is for relief against the Company in an involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property or (iii) orders the liquidation of the Company, and the order or decree remains
unstayed and in effect for 90 days. 
 (b) In each and every such case (other than an Event of Default specified in
clause (4) or clause (5) above), unless the principal of all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate principal amount of the Securities of
that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by such Securityholders), may declare the principal of (and premium, if any, on) and accrued and unpaid interest on all the Securities of that
series to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in clause (4) or clause (5) above occurs, the principal of and accrued
and unpaid interest on all the Securities of that series shall automatically be immediately due and payable without any declaration or other act on the part of the Trustee or the holders of the Securities. 

(c) At any time after the principal of (and premium, if any, on) and accrued and unpaid interest on the Securities of that series
shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities
of that series then Outstanding hereunder, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: (i) the Company has paid or deposited with the Trustee a sum sufficient to pay all
matured installments of interest upon all the Securities of that series and the principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration (with interest upon such principal
and premium, if any, and, to the extent that such payment is enforceable under applicable law, upon overdue installments of interest, at the rate per annum expressed in the Securities of that series to the date of such payment or deposit) and the
amount payable to the Trustee under Section 7.06, and (ii) any and all Events of Default under the Indenture with respect to such series, other than the nonpayment of principal on (and premium, if any, on) and accrued and unpaid interest
on Securities of that series that shall not have become due by their terms, shall have been remedied or waived as provided in Section 6.06. 
 No such rescission and annulment shall extend to or shall affect any subsequent default or impair any right consequent thereon. 
 (d) In case the Trustee shall have proceeded to enforce any right with respect to Securities of that series under this Indenture and such proceedings shall have been discontinued or abandoned
because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case, subject to any determination in such proceedings, the Company and the Trustee shall be restored
respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue as though no such proceedings had been taken. 

 

	Section 6.02	Collection of Indebtedness and Suits for Enforcement by Trustee. 

 (a) The Company covenants that (i) in case it shall default in the payment of any installment of interest on any of the Securities of a series, or in any payment required by any sinking or
analogous fund established with respect to that series as and when the same shall have become due and payable, and such default shall have continued for a period of 90 days, or (ii) in case it shall default in the payment of the principal of
(or premium, if any, on) any of the Securities of a series when the same shall have become due and payable, whether upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise then, upon demand of the Trustee, the
Company will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall have been become due and payable on all such Securities for principal (and premium, if any) or interest, or both, as
the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent that payment of such interest is enforceable under applicable law) upon overdue installments of interest at the rate per annum expressed in the
Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, and the amount payable to the Trustee under Section 7.06. 

  
 17 

 (b) 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, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding
to judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law or equity
out of the property of the Company or other obligor upon the Securities of that series, wherever situated. 
 (c) In case
of any receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or judicial proceedings affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such
proceedings and take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to
have the claims of the Trustee and of the holders of Securities of such series allowed for the entire amount due and payable by the Company under the Indenture at the date of institution of such proceedings and for any additional amount that may
become due and payable by the Company after such date, and to collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute the same after the deduction of the amount payable to the Trustee under
Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the holders of Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall consent
to the making of such payments directly to such Securityholders, to pay to the Trustee any amount due it under Section 7.06. 
 (d) All rights of action and of asserting claims under this Indenture, or under any of the terms established with respect to Securities of that series, may be enforced by the Trustee without the
possession of any of such Securities, 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 payment to the Trustee of any amounts due under Section 7.06, be for the ratable benefit of the holders of the Securities of such series. 

In case of an Event of Default hereunder, 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 the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any
covenant or agreement contained in the 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. 

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

	Section 6.03	Application of Moneys Collected. 

 Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee and, in
case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully
paid: 
 FIRST: To the payment of reasonable costs and expenses of collection and of all amounts payable to the Trustee under
Section 7.06; 
 SECOND: To the payment of the amounts then due and unpaid upon Securities of such series for principal
(and premium, if any) and interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal (and
premium, if any) and interest, respectively; and 

  
 18 

 THIRD: To the payment of the remainder, if any, to the Company or any other Person lawfully
entitled thereto. 
  

	Section 6.04	Limitation on Suits. 

 No
holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture 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 or trustee, or for any other remedy hereunder, unless (i) such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof with respect to the Securities of
such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of not less than 25% in aggregate principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to
institute such action, suit or proceeding in its own name as Trustee hereunder; (iii) such holder or holders shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be
incurred therein or thereby; (iv) the Trustee for 90 days after its receipt of such notice, request and offer of indemnity, shall have failed to institute any such action, suit or proceeding and (v) during such 90 day period, the holders
of a majority in principal amount of the Securities of that series do not give the Trustee a direction inconsistent with the request. 
 Notwithstanding anything contained herein to the contrary or any other provisions of this Indenture, the right of any holder of any Security to receive payment of the principal of (and premium, if any)
and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the case of redemption, on the redemption date), or to institute suit for the enforcement of any such payment on or after such
respective dates or redemption date, shall not be impaired or affected without the consent of such holder and by accepting a Security hereunder it is expressly understood, intended and covenanted by the taker and holder of every Security of such
series with every other such taker and holder and the Trustee, that no one or more holders of Securities of such series shall have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or
prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over or preference to any other 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 of Securities of such series. For the protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given
either at law or in equity. 
  

	Section 6.05	Rights and Remedies Cumulative; Delay or Omission Not Waiver. 

 (a) Except as otherwise provided in Section 2.07, all powers and remedies given by this Article to the Trustee or to the Securityholders shall, to the extent permitted by law, be deemed
cumulative and not exclusive of any other powers and remedies available to the Trustee or the holders of the Securities, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this
Indenture or otherwise established with respect to such Securities. 
 (b) No delay or omission of the Trustee or of any
holder of any of the Securities to exercise any right or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or an acquiescence
therein; and, subject to the provisions of Section 6.04, every power and remedy given by this Article or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee
or by the Securityholders. 
  

	Section 6.06	Control by Securityholders. 

 The holders of a majority in aggregate principal amount of the Securities of any series 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 

  
 19 

 
the Trustee with respect to such series; provided, however, that such direction shall not be in conflict with any rule of law or with this Indenture or subject the Trustee in its sole discretion
to personal liability. Subject to the provisions of Section 7.01, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or officers of the Trustee, determine that
the proceeding so directed, subject to the Trustee’s duties under the Trust Indenture Act, would involve the Trustee in personal liability or might be unduly prejudicial to the Securityholders not involved in the proceeding. The holders of a
majority in aggregate principal amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance with Section 8.04, may on behalf of the holders of all of the Securities of such series waive any past
default in the performance of any of the covenants contained herein or established pursuant to Section 2.01 with respect to such series and its consequences, except a default in the payment of the principal of, or premium, if any, or interest
on, any of the Securities of that series as and when the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default has been cured and a sum sufficient to pay all matured installments of interest and
principal and any premium has been deposited with the Trustee (in accordance with Section 6.01(c)). Upon any such waiver, the default covered thereby shall be deemed to be cured for all purposes of this Indenture and the Company, the Trustee
and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

 

	Section 6.07	Undertaking to Pay Costs. 

All parties to this Indenture agree, and each holder of any Securities by such holder’s 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, against any party litigant in such suit, having due regard to the merits and
good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding more than
10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security of such series, on
or after the respective due dates expressed in such Security or established pursuant to this Indenture. 
 ARTICLE 7

 CONCERNING THE TRUSTEE 
  

	Section 7.01	Certain Duties and Responsibilities of Trustee. 

 (a) The Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing of all Events of Default with respect to the Securities of that
series that may have occurred, shall undertake to perform with respect to the Securities of such series such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants shall be read into this Indenture
against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred (that has not been cured or waived), the Trustee shall exercise with respect to Securities of that series such of the rights and powers vested
in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 

(b) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that: 
 (i) prior to the occurrence of an
Event of Default with respect to the Securities of a series and after the curing or waiving of all such Events of Default with respect to that series that may have occurred: 

(A) the duties and obligations of the Trustee shall with respect to the Securities of such series be determined
solely by the express provisions of this Indenture, and the 

  
 20 

 
Trustee shall not be liable with respect to the Securities of such series 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 
 (B) in the absence
of bad faith on the part of the Trustee, the Trustee may with respect to the Securities of such series 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 provision 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; 

(ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or
Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (iii) 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 direction of the holders of not less than a majority in
principal amount of the Securities of any series at the time Outstanding relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under
this Indenture with respect to the Securities of that series; and 
 (iv) 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 or in the exercise of any of its rights or powers if there is reasonable ground for
believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to it. 

 

	Section 7.02	Certain Rights of Trustee. 

 Except as otherwise provided in Section 7.01: 
 (a) The Trustee may
rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security or other paper or document believed by it 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 a Board Resolution or an instrument signed in the name of the Company by any authorized officer of the Company (unless other evidence in respect thereof is specifically
prescribed herein); 
 (c) The Trustee may consult with counsel and the written advice of such counsel or, if requested,
any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon; 

(d) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the
request, order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that
may be incurred therein or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default with respect to a series of the Securities (that has not been cured or waived), to
exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and to use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the
conduct of his or her own affairs; 

  
 21 

 (e) The Trustee shall not be liable for any action taken or omitted to be taken by it
in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (f) 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, consent,
order, approval, bond, security, or other papers or documents, unless requested in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities of the particular series affected thereby (determined as
provided in Section 8.04); provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee,
not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such costs, expenses or liabilities as a condition to so proceeding. The reasonable expense of
every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand; 

(g) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through
agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 
 (h) 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, 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 which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under
the circumstances; 
 (i) In no event shall the Trustee be responsible or liable for special, indirect, or consequential
loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action; and 

(j) The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail,
facsimile transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such written instructions, subsequent to such transmission of written instructions, shall provide the originally executed
instructions or directions to the Trustee in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the party providing such instructions or directions. If the party
elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its sole discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be
deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are
inconsistent with a subsequent written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without
limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. 
 (k) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate and an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take
in good faith in reliance on such certificate or opinion. 
 In addition, the Trustee shall not be deemed to have knowledge of
an Event of Default other than an Event of Default relating to the failure to pay the interest on, or the principal of, the Securities, until the Trustee shall have received written notification in the manner set forth in this Indenture or a
Responsible Officer of the Trustee shall have obtained actual knowledge. 

  
 22 

	Section 7.03	Trustee Not Responsible for Recitals or Issuance of Securities. 

 (a) The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. 

(b) The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. 

(c) The Trustee shall not be accountable for the use or application by the Company of any of the Securities or of the proceeds of
such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01, or for the use or application of any moneys received by any paying
agent other than the Trustee. 
  

	Section 7.04	May Hold Securities. 

The Trustee or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of
Securities with the same rights it would have if it were not Trustee, paying agent or Security Registrar. 
  

	Section 7.05	Moneys Held in Trust. 

Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be
held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as
it may agree to in writing with the Company to pay thereon. 
  

	Section 7.06	Compensation and Reimbursement. 

 (a) The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation (which shall not be limited by any provision of law in regard to the
compensation of a trustee of an express trust) as the Company and the Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and in the exercise and performance of any of the
powers and duties hereunder of the Trustee, and, except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in
accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons not regularly in its employ), except any such expense, disbursement or advance as may
arise from its negligence or bad faith and except as the Company and Trustee may from time to time agree in writing. The Company also covenants to indemnify the Trustee (and its officers, agents, directors and employees) for, and to hold it harmless
against, any loss, liability or expense incurred without negligence or bad faith on the part of the Trustee and arising out of or in connection with the acceptance or administration of this trust, including the reasonable costs and expenses of
defending itself against any claim of liability in the premises. 
 (b) The obligations of the Company under this Section
to compensate and indemnify the Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that
of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities. 
 (c) To ensure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities on all funds or property held or collected by the Trustee, except that
held in trust to pay principal of or interest on particular Securities. When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 6.01(4) or (5), the expenses (including the reasonable fees
and expenses of its counsel) and the compensation for services in connection therewith are to constitute expenses of administration under any bankruptcy law. The provisions of this Section 7.06 shall survive the termination of this Indenture
and the resignation or removal of the Trustee. 

  
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	Section 7.07	Reliance on Officer’s Certificate. 

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

	Section 7.08	Disqualification; Conflicting Interests. 

 If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with
the provisions of Section 310(b) of the Trust Indenture Act. 
  

	Section 7.09	Corporate Trustee Required; Eligibility. 

 There shall at all times be a Trustee with respect to the Securities issued hereunder which shall at all times be a corporation organized and doing business under the laws of the United States of America
or any state or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the Commission, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of
at least fifty million U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state, territorial, or District of Columbia authority. 
 If such corporation or other Person publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such corporation or other Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Company may not, nor may any Person
directly or indirectly controlling, controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign
immediately in the manner and with the effect specified in Section 7.10. 
  

	Section 7.10	Resignation and Removal; Appointment of Successor. 

 (a) The Trustee or any successor hereafter appointed may at any time resign with respect to the Securities of one or more series by giving written notice thereof to the Company and by transmitting
notice of resignation by mail, first class postage prepaid, to the Securityholders of such series, as their names and addresses appear upon the Security Register. Upon receiving such notice of resignation, the Company shall promptly appoint a
successor trustee with respect to Securities of such series by written instrument, in duplicate, executed by order of the Board of Directors, 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 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the
appointment of a successor trustee with respect to Securities of such series, or any Securityholder of that series who has been a bona fide holder of a Security or Securities for at least six months may on behalf of himself 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 one of the following shall occur: 

  
 24 

 (i) the Trustee shall fail to comply with the provisions of
Section 7.08 after written request therefor by the Company or by any Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or 

(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall fail
to resign after written request therefor by the Company or by any such Securityholder; or 
 (iii) the
Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall
take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; 
 then, in any such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors,
one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Securityholder who has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that holder
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
Securities of any series at the time Outstanding may at any time remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee for such series with the consent of the Company.

 (d) Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of
a series pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 
 (e) Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one
Trustee with respect to the Securities of any particular series. 
  

	Section 7.11	Acceptance of Appointment By Successor. 

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

(b) In case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all)
series, the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor trustee shall accept such appointment and
which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of
that or those series to which the appointment of such successor trustee relates, (ii) shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall 

  
 25 

 
constitute such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered
by any other such Trustee and that no Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor trustee relates have no further responsibility for
the exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee shall
duly assign, transfer and deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which
the appointment of such successor trustee relates. 
 (c) Upon request of any such successor trustee, the Company shall
execute any and all instruments for more fully and certainly vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 

(d) No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be
qualified and eligible under this Article. 
 (e) Upon acceptance of appointment by a successor trustee as provided in
this Section, the Company shall transmit notice of the succession of such trustee hereunder by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register. If the Company fails to
transmit such notice within ten days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company. 

 

	Section 7.12	Merger, Conversion, Consolidation or Succession to Business. 

 Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall
be a party, or any corporation succeeding to the corporate trust business of the Trustee, including the administration of the trust created by this Indenture, shall be the successor of the Trustee hereunder, provided that such corporation shall be
qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary
notwithstanding. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver
the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 
  

	Section 7.13	Preferential Collection of Claims Against the Company. 

 The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or
been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein. 
  

	Section 7.14	Notice of Default. 

 If
any Event of Default occurs and is continuing and if such Event of Default is actually known to a Responsible Officer of the Trustee, the Trustee shall mail to each Securityholder in the manner and to the extent provided in Section 313(c) of
the Trust Indenture Act notice of the Event of Default within 90 days after it occurs or, if later, after it is known to a Responsible Officer of the Trustee or written notice of it is received by the Trustee, unless such Event of Default has been
cured; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on any Security, the Trustee shall be protected in withholding such notice if and so long as the board of
directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interest of the Securityholders. 

  
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 ARTICLE 8 
 CONCERNING THE SECURITYHOLDERS 
  

	Section 8.01	Evidence of Action by Securityholders. 

 Whenever in this Indenture it is provided that the holders of a majority or specified percentage in aggregate principal amount of the Securities of a particular series 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 majority or specified percentage of that series have joined
therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in person or by agent or proxy appointed in writing. 

If the Company shall solicit from the Securityholders of any series any request, demand, authorization, direction, notice, consent,
waiver or other action, the Company may, at its option, as evidenced by an Officer’s Certificate, fix in advance a record date for such series for the determination of Securityholders entitled to give such request, demand, authorization,
direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may be given before or
after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of Outstanding
Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed as of the
record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six
months after the record date. 
  

	Section 8.02	Proof of Execution by Securityholders. 

 Subject to the provisions of Section 7.01, proof of the execution of any instrument by a Securityholder (such proof will not require notarization) or his agent or proxy and proof of the holding by
any Person of any of the Securities shall be sufficient if made in the following manner: 
 (a) The fact and date of the
execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee. 
 (b)
The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security Registrar thereof. 
 The Trustee may require such additional proof of any matter referred to in this Section as it shall deem necessary. 
  

	Section 8.03	Who May be Deemed Owners. 

Prior to the due presentment for registration of transfer of any Security, the Company, the Trustee, any paying agent and any Security
Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Security Registrar as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notice of
ownership or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and for all other
purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any notice to the contrary. 

  
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	Section 8.04	Certain Securities Owned by Company Disregarded. 

 In determining whether the holders of the requisite aggregate principal amount of Securities of a particular series have concurred in any direction, consent or waiver under this Indenture, the Securities
of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly or indirectly controlling or controlled by or under common control with the Company or any other obligor on the Securities
of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver,
only Securities of such series that the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged in good faith may be regarded as Outstanding for the purposes of this Section, if the pledgee shall
establish to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly controlling or controlled by or under direct or indirect common control with
the Company or any such other obligor. In 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. 

 

	Section 8.05	Actions Binding on Future Securityholders. 

 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 majority or percentage in aggregate principal amount
of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of that series that is shown by the evidence to be included in the Securities the holders of which have consented to such
action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be
conclusive and binding upon such holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in
regard thereto is made upon such Security. Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action shall be
conclusively binding upon the Company, the Trustee and the holders of all the Securities of that series. 
 ARTICLE 9

 SUPPLEMENTAL INDENTURES 
  

	Section 9.01	Supplemental Indentures Without the Consent of Securityholders. 

 In addition to any supplemental indenture otherwise authorized by this Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental
hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of any Securityholders, for one or more of the following purposes: 

(a) to cure any ambiguity, defect, or inconsistency in this Indenture or in the Securities of any series; 

(b) to comply with Article Ten; 
 (c) to provide for uncertificated Securities in addition to or in place of certificated Securities; 
 (d) to add to the covenants, restrictions, conditions or provisions such new covenants, restrictions, conditions or provisions for the benefit of the Securityholders, to make the occurrence, or the
occurrence and the continuance, of a default in any such additional covenants, restrictions, conditions or provisions an Event of Default, or to surrender any right or power conferred upon the Company in this Indenture; 

(e) to add to, delete from, or revise the conditions, limitations, and restrictions on the authorized amount, terms, or purposes
of issue, authentication, and delivery of Securities, as set forth in this Indenture; 

  
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 (f) to make any change that does not adversely affect the rights of any
Securityholder in any material respect; 
 (g) to provide for the issuance of and establish the form and terms and
conditions of the Securities of any series as provided in Section 2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the rights of the
holders of any series of Securities; 
 (h) to evidence and provide for the acceptance of appointment under this
Indenture by a successor trustee; or 
 (i) to comply with any requirements of the Commission with the qualification of
this Indenture under the Trust Indenture Act. 
 The Trustee is hereby authorized to join with the Company in the execution of
any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such 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 may be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.02. 

 

	Section 9.02	Supplemental Indentures With Consent of Securityholders. 

 With the written consent of the holders of at least a majority in aggregate principal amount of the Securities of each series affected by such supplemental indenture or indentures at the time Outstanding,
the Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect)
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner not covered by Section 9.01 the rights of the holders of
the Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the holders of each Security then Outstanding and affected thereby, (a) extend the fixed maturity of any
Securities of any series, (b) reduce the principal amount, reduce the rate of or extend the time of payment of interest, or reduce any premium payable upon the redemption of any series of Securities or (c) reduce the percentage of
Securities, the holders of which are required to consent to any amendment, supplement, modification or waiver. 
 It shall not
be necessary for the consent of the Securityholders of any series affected thereby under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance
thereof. 
  

	Section 9.03	Effect of Supplemental Indentures. 

 Upon the execution of any supplemental indenture pursuant to the provisions of this Article or of Section 10.01, this Indenture shall, with respect to such series, be and be deemed to be modified and
amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the holders of Securities of the series affected thereby 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. 

  
 29 

	Section 9.04	Securities Affected by Supplemental Indentures. 

 Securities of any series affected by a supplemental indenture, authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article or of
Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements of any securities exchange upon which such series may be listed, as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Company,
authenticated by the Trustee and delivered in exchange for the Securities of that series then Outstanding. 
  

	Section 9.05	Execution of Supplemental Indentures. 

 Upon the request of the Company, accompanied by its Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of
Securityholders required to consent thereto as aforesaid, 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. The Trustee, subject to the provisions of Sections 7.01 and 7.02, shall receive an Officer’s
Certificate upon request and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by the terms of this Article, that all conditions precedent to the execution of
the supplemental indenture have been complied with and the Supplemental Indenture is a valid and legally binding instrument enforceable against the Company. 
 Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Company shall (or shall direct the Trustee to) transmit by mail,
first class postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all series affected thereby .as their names and addresses appear upon the Security Register. Any failure of
the Company to mail, or cause the mailing of, such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 

ARTICLE 10 

SUCCESSOR ENTITY 
  

	Section 10.01	Company May Consolidate, Etc. 

 Nothing contained in this Indenture shall prevent any consolidation or merger of the Company with or into any other Person (whether or not affiliated with the Company) or successive consolidations or
mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property of the Company or its successor or successors as an entirety, or
substantially as an entirety, to any other corporation (whether or not affiliated with the Company or its successor or successors) authorized to acquire and operate the same; provided, however, the Company hereby covenants and agrees that, upon any
such consolidation or merger (in each case, if the Company is not the survivor of such transaction), sale, conveyance, transfer or other disposition, the due and punctual payment of the principal of (premium, if any) and interest on all of the
Securities of all series in accordance with the terms of each series, according to their tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture with respect to each series or established with
respect to such series pursuant to Section 2.01 to be kept or performed by the Company shall be expressly assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) reasonably
satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity which shall have acquired such property. 

 

	Section 10.02	Successor Entity Substituted. 

 (a) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor entity by supplemental indenture, executed and delivered to
the Trustee and 

  
 30 

 
satisfactory in form to the Trustee, of the obligations set forth under Section 10.01 on all of the Securities of all series Outstanding, such successor entity shall succeed to and be
substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the Securities. 

(b) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition, such changes in phraseology and
form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 
 (c) Nothing
contained in this Article shall require any action by the Company in the case of a consolidation or merger of any Person into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or
otherwise, of all or any part of the property of any other Person (whether or not affiliated with the Company). 
 ARTICLE 11

 SATISFACTION AND DISCHARGE 
  

	Section 11.01	Satisfaction and Discharge of Indenture. 

 If at any time: (a) the Company shall have delivered to the Trustee for cancellation all Securities of a series theretofore authenticated and not delivered to the Trustee for cancellation (other than
any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07 and Securities for whose payment money or Governmental Obligations have theretofore been deposited in trust or
segregated and held in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such Securities of a particular series not theretofore delivered to the Trustee for
cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption,
and the Company shall deposit or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if
any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company then
this Indenture shall thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10, that shall survive until the date of maturity or redemption date, as the case
may be, and Sections 7.06 and 11.05, that shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company shall execute proper instruments acknowledging satisfaction of and discharging
this Indenture with respect to such series. 
  

	Section 11.02	Discharge of Obligations. 

If at any time all such Securities of a particular series not heretofore delivered to the Trustee for cancellation or that have not
become due and payable as described in Section 11.01 shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations sufficient to pay at maturity or upon redemption
all such Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and
if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the
obligations of the Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4,03, 7.06, 7.10 and 11.05 hereof that shall survive until such
Securities shall mature and be paid. 
 Thereafter, Sections 7.06 and 11.05 shall survive. 

  
 31 

	Section 11.03	Deposited Moneys to be Held in Trust. 

 All moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be available for payment as due, either directly or through any
paying agent (including the Company acting as its own paying agent), to the holders of the particular series of Securities for the payment or redemption of which such moneys or Governmental Obligations have been deposited with the Trustee.

  

	Section 11.04	Payment of Moneys Held by Paying Agents. 

 In connection with the satisfaction and discharge of this Indenture all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall, upon demand of the
Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys or Governmental Obligations. 
  

	Section 11.05	Repayment to Company. 

Any moneys or Governmental Obligations deposited with any paying agent or the Trustee, or then held by the Company, in trust for payment
of principal of or premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least two years after the date upon which the principal of (and premium, if
any) or interest on such Securities shall have respectively become due and payable, or such other shorter period set forth in applicable escheat or abandoned or unclaimed property law, shall be repaid to the Company on May 31 of each year or
upon the Company’s request or (if then held by the Company) shall be discharged from such trust; and thereupon the paying agent and the Trustee shall be released from all further liability with respect to such moneys or Governmental
Obligations, and the holder of any of the Securities entitled to receive such payment shall thereafter, as a general creditor, look only to the Company for the payment thereof. 
 ARTICLE 12 
 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND
DIRECTORS 
  

	Section 12.01	No Recourse. 

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

  
 32 

 ARTICLE 13 
 MISCELLANEOUS PROVISIONS 
  

	Section 13.01	Effect on Successors and Assigns. 

 All the covenants, stipulations, promises and agreements in this Indenture made by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not. 

 

	Section 13.02	Actions by Successor. 

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 corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Company. 

 

	Section 13.03	Surrender of Company Powers. 

 The Company by instrument in writing executed by authority of its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon such power so
surrendered shall terminate both as to the Company and as to any successor corporation. 
  

	Section 13.04	Notices. 

 Except as
otherwise expressly provided herein, any notice, request or demand that by any provision of this Indenture is required or permitted to be given, made or served by the Trustee, the Security Registrar, any paying or other agent under this Indenture,
the holders of Securities or any other Person pursuant to this Indenture to or on the Company, may be given or served by being in writing and sent by electronic transmission or deposited in first class mail, postage prepaid, addressed (until another
address is filed in writing by the Company with the Trustee), to the Company as follows: Endocyte, Inc., 3000 Kent Avenue, Suite A1-100, West Lafayette, Indiana 47906, Attention: [—]. Any
notice, election, request or demand by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing
at the Corporate Trust Office of the Trustee. 
  

	Section 13.05	Governing Law. 

 This
Indenture and each Security shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State, except to the extent that the Trust Indenture Act
is applicable. 
 In addition, the Company: (a) agrees that any suit, action or proceeding against it arising out of or
relating to this Indenture or any Securities, as the case may be, may be instituted in any U.S. federal court with applicable subject matter jurisdiction sitting in The City of New York; (b) waives, to the fullest extent permitted by applicable
law, any objection which it may now or hereafter have to the laying of venue of any such suit, action or proceeding, and any claim that any suit, action or proceeding in such a court has been brought in an inconvenient forum; and (c) submits to
the non-exclusive jurisdiction of such courts in any suit, action or proceeding. 
  

	Section 13.06	Treatment of Securities as Debt. 

 It is intended that the Securities will be treated as indebtedness and not as equity for federal income tax purposes. The provisions of this Indenture shall be interpreted to further this intention.

  

	Section 13.07	Certificates as to Conditions Precedent. 

 (a) Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture (except with respect to the initial issuance of Securities), the
Company shall furnish 

  
 33 

 
to the Trustee an Officer’s Certificate and an Opinion of Counsel or reliance letter, upon request, stating that all conditions precedent provided for in this Indenture (other than the
certificate to be delivered pursuant to Section 13.12 or Section 314(a)(4) of the Trust Indenture Act) relating to the proposed action have been complied with, except that in the case of any such application or demand as to which the
furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate need be furnished; provided, however, that no Opinion of Counsel or reliance letter
shall be required in connection with the issuance of Securities on the date on which the Securities are originally issued or deemed issued as set forth on the face of such Securities. 

(b) Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a
condition or covenant in this Indenture (other than the certificate to be delivered pursuant to Section 13.12 or Section 314(a)(4) of the Trust Indenture Act) shall include (i) a statement that the Person making such certificate or
opinion has read such covenant or condition; (ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements contained in such certificate or opinion are based; (iii) a statement that, in the
opinion of such Person, he has made such examination or investigation as is reasonably necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (iv) a statement as to
whether or not, in the opinion of such Person, such condition or covenant has been complied with. 
  

	Section 13.08	Payments on Business Days. 

 Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officer’s Certificate, established in one or more indentures supplemental to this Indenture, or
otherwise explicitly stated, in any case where the date of maturity of interest or principal of any Security, or the date for the repurchase of any Security or for the redemption of any Security shall not be a Business Day, then payment of interest,
principal (and premium, if any), redemption price or repurchase price due on such date may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity, repurchase or redemption, and no
interest shall accrue for the period after such nominal date as a result of such delay. 
  

	Section 13.09	Conflict with Trust Indenture Act. 

 If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall
control. 
  

	Section 13.10	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. 

 

	Section 13.11	Separability. 

 In case
any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect
any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 

 

	Section 13.12	Compliance Certificates. 

The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year during which any Securities of any series were
outstanding, an officer’s certificate stating whether or not the signers know of any Event of Default that occurred during such fiscal year. Such certificate shall contain a certification from the principal executive officer, principal
financial officer or principal accounting officer of the Company that a review has been conducted of the activities of the Company and the Company’s performance under this Indenture and that the Company has complied with all conditions and
covenants under this Indenture. For purposes of this 

  
 34 

 
Section 13.12, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. If the officer of the Company signing such
certificate has knowledge of such an Event of Default, the certificate shall describe any such Event of Default and its status. 
  

	Section 13.13	U.S.A. Patriot Act. 

 The
parties hereto acknowledge that in accordance with Section 326 of the U.S.A. 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 U.S.A. Patriot Act. 
  

	Section 13.14	Force Majeure. 

 In no
event shall the Trustee, the Security Registrar, any paying agent or any other agent under this Indenture 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, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or
malfunctions or utilities, communications or computer (software and hardware) services; it being understood that the Trustee, the Security Registrar, any paying agent or any other agent under this Indenture shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 
  

	Section 13.15	Table of Contents; Headings. 

 The table of contents and headings of the articles and sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof, and will not modify
or restrict any of the terms or provisions hereof. 

  
 35 

 In Witness Whereof, the parties hereto have caused this Indenture to be duly executed all as of the
day and year first above written. 
  

			
	ENDOCYTE, INC.
		
	 By:
	 	  

 
			
		
	 Name:
	 	
		
	 Title:
	 	

 
			
	
	 [—], as Trustee

		
	 By:
	 	  

 
			
		
	 Name:
	 	
		
	 Title:
	 	

  
 36 

 CROSS-REFERENCE TABLE (1) 

 

			
	 Section of Trust Indenture Act of 1939, as
Amended
	  	 Section of Indenture

	 310(a)
	  	7.09
	 310(b)
	  	7.08
		  	7.10
	 310(c)
	  	Inapplicable
	 311(a)
	  	7.13
	 311(b)
	  	7.13
	 311(c)
	  	Inapplicable
	 312(a)
	  	5.01
		  	5.02(a)
	 312(b)
	  	5.02(c)
	 312(c)
	  	5.02(c)
	 313(a)
	  	5.04(a)
	 313(b)
	  	5.04(b)
	 313(c)
	  	5.04(a)
		  	5.04(b)
	 313(d)
	  	5.04(c)
	 314(a)
	  	5.03
		  	13.12
	 314(b)
	  	Inapplicable
	 314(c)
	  	13.07(a)
	 314(d)
	  	Inapplicable
	 314(e)
	  	13.07(b)
	 314(f)
	  	Inapplicable
	 315(a)
	  	7.01(a)
		  	7.01(b)
	 315(b)
	  	7.14
	 315(c)
	  	7.01
	 315(d)
	  	7.01(b)
	 315(e)
	  	6.07
	 316(a)
	  	6.06
		  	8.04
	 316(b)
	  	6.04
	 316(c)
	  	8.01
	 317(a)
	  	6.02
	 317(b)
	  	4.03
	 318(a)
	  	13.09

  

	(1)	This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.

  
 37EX-10.2

 Exhibit 10.2 
  

 
 SPACE EXPLORATION TECHNOLOGIES CORP. 

LAUNCH SERVICES AGREEMENT 

This Falcon 9 Launch Services Agreement, including all attachments hereto (this “Agreement”), is entered into as of
December 21, 2012 (“Effective Date”) by and between Space Exploration Technologies Corp., a Delaware corporation with principal offices at 1 Rocket Road, Hawthorne, CA 90250 (“SpaceX”)
and ORBCOMM Inc., a Delaware corporation with principal offices at 2115 Linwood Avenue, Fort Lee, NJ 07024 (“Customer”). 
 WHEREAS, pursuant to the Termination Agreement between SpaceX and Customer, dated as of the date hereof, the Parties have mutually determined to terminate any and all obligations or claims under the
Falcon 1e Commercial Launch Services Agreement, dated August 28, 2009 (the “Falcon 1e Agreement”); 

WHEREAS, Customer desires SpaceX to launch up to eighteen (18) of its Satellites into orbit, in two (2) batches of Satellites (each a
“Satellite Batch”), where each Satellite Batch provided by Customer to be launched by SpaceX shall consist of no fewer than [***...***] Satellites (or total Payloads) and no more than [***...***] Satellites (or total
Payloads); and 
 WHEREAS, SpaceX desires to provide Launch Services for eighteen Satellites with its Falcon 9 launch vehicle,
[***...***]. 
 NOW THEREFORE, the Parties agree as follows: 
 1. Definitions. Capitalized terms used herein and not defined herein shall have the meanings given such terms on attached Exhibit A. 

2. Services. 
 2.1 Launch Services.
SpaceX shall furnish Customer two (2) Launch Services for two Satellite Batches consisting of up to eighteen (18) Satellites (or total Payloads) in 

  
 — Space
Exploration Technologies Corp. Proprietary and Confidential — 
 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT.
THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***. . .***]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 
the aggregate, to be launched from the Launch Site as contemplated herein and in the Statement of Work attached hereto as Exhibit B (“SOW”). A Launch
Service shall be considered complete upon Launch, but not complete in the event of a Terminated Ignition. Additional services may be provided as set forth in the SOW, or subject to mutual written agreement of the Parties. With respect to each Launch
Service, SpaceX reserves the right to sell any remaining payload capacity on the Launch Vehicle to other customers of SpaceX on a Non-Interference Basis. Customer agrees to reserve at least one (1) meter of height above the 1575 interface
plane of the Dispenser in order to enable SpaceX to utilize for third-party payloads, to be reflected in the Interface Control Document. 

2.2 Initial Flight of Launch Vehicle. [***...***], provided that such delay (counted from the day after the last day of the First Launch
Period) shall not be attributable to either Customer or SpaceX pursuant to Sections 9.2 (Customer Delays) and 9.3 (SpaceX Delays), respectively, provided however, that Customer’s rights and remedies under Sections 14.2(b) (Termination for
Delay) and 14.2(d) (Special Termination Right), as well as SpaceX’s rights and remedies under Section 14.3(b) shall continue to apply. 
 3. Price. The Contract Price shall be Forty-Two Million Six Hundred Thousand U.S. dollars ($42,600,000) (“Contract Price”). The price for each Launch Service shall be
[***...***] (“Launch Price”), with Milestone Payments to be made in accordance with Section 4 (Payment Terms). For the avoidance of doubt, the Launch Price does not include the Dispenser, services associated
with the Dispenser that are not reflected in the SOW, or other additional services that might be agreed by the Parties (or a third party contracting with Customer) to be provided, on a time and materials basis, pursuant to a separate agreement.

 4. Payment Terms. 
 4.1
Down Payment. The Parties acknowledge that [***...***] of the aggregate [***...***] in payments made by Customer to SpaceX pursuant to the Falcon 1e Agreement shall be applied as a down payment under this Agreement, to be equally
between the first Launch Service and the second Launch Service (individually or together, as applicable, the “Down Payment”), as reflected below, against the aggregate Forty-Two Million, Six Hundred Thousand U.S. dollars
($42,600,000) payable under this Agreement. The Parties further acknowledge and agree that, by virtue of execution of this Agreement, any claim, obligation, or liability, or refund that may be owed, under the Falcon 1e Agreement is waived or
terminated, as applicable. 
 4.2 Milestone Payments. In addition to the Down Payment, upon the completion of any milestone set forth in
below (each a “Milestone”), SpaceX shall be entitled to the 

  
 —
Proprietary and Confidential — 
 Page 2 
 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***. . .***]. A
COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 
payment (each a “Milestone Payment”), and Customer shall pay the applicable invoice issued by SpaceX in accordance with Section 4.3 (Payment Obligation), and pursuant
to the following schedule: 
 [***...***] 
 The Parties acknowledge and agree that where SpaceX requires cooperation or information from Customer to accomplish a given Milestone, if a Customer failure or delay in furnishing such cooperation or
information delays accomplishment of such Milestone, after written notice thereof by SpaceX to Customer, the corresponding Milestone Payment shall nevertheless be due to SpaceX upon the originally scheduled Due Date and paid by Customer to SpaceX
accordingly. 
 4.3 Payment Obligation. 
 (a) Customer shall be obligated to make all payments to SpaceX hereunder regardless of the outcome of a Launch. Payments shall be made regardless of Launch Vehicle readiness status reports or
Satellite / Satellite Batch readiness status reports. 
 (b) Upon the occurrence of each Launch, regardless of outcome, any payments made
under this Agreement to the extent directly attributable to the corresponding Launch Service as set forth above (whether received by SpaceX or due and owing to SpaceX) shall be considered earned and nonrefundable by SpaceX. 

4.4 Invoices. Excluding Milestone Payment “Launch 1-A,” which shall be paid no later than two (2) days after the date of this
Agreement, SpaceX shall submit an invoice to Customer for payment after completion of a Milestone, on or after the completion thereof, including [***...***]. Payment shall be made by Customer to SpaceX, for any Milestone Payment within
[***...***] of submission of an invoice by SpaceX in accordance with the requirements of this Section 4 (Payments). SpaceX shall invoice Customer at the address set forth in Section 18 (Notices) and Customer shall make
payments via electronic deposit of funds to the SpaceX Account. 
 4.5 Late Fees. Any payment due under this Agreement that shall remain
unpaid after its date due as set forth herein, and if the Party owed such payment has provided the other Party written notice thereof and a [***...***] period to cure, then the non-paying Party shall pay interest to the other Party at a rate
equal to the lesser of: (i) [***...***] per annum (applied on an annual basis); or (ii) the maximum amount permitted by applicable law. Interest will be computed commencing as of the business day after the original due date until
and including the date payment is actually made, unless paid during the cure period, in which case no interest shall be due. 

  
 —
Proprietary and Confidential — 
 Page 3 
 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***. . .***]. A
COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 5. Launch Schedule. 
 5.1 Scheduling. The date of the first Launch (“First Launch Date”) shall occur within a [***...***] period between June 15, 2013 and [***...***]
(“First Launch Period”), and the date of the second Launch (“Second Launch Date”) shall occur within a [***...***] period beginning [***...***] and ending June 30, 2014 (“Second
Launch Period”). Notwithstanding the timeframes established for the First Launch Period, the parties understand and agree that SpaceX shall use commercially reasonable efforts to perform the first Launch within [***...***] of receipt
from Customer of a complete and correct finite element model representative of the integrated payload stack configuration, per Appendix B of the SOW, and any other information reflected in the SOW for joint integration analyses. Any delays or
noncompliance to the SOW attributable to Customer or its Related Third Parties with respect to delivery of the foregoing to SpaceX shall toll SpaceX’s obligations to perform the first Launch Service day-for-day and shall not affect
SpaceX’s rights or remedies pursuant to Sections 9.2 or 14.3(b). 
 The Parties shall determine, no later than: (i) [***...***]
prior to the start of a First Launch Period, a [***...***] period within the First Launch Period (“First Launch Slot”) during which the First Launch Date will occur; (ii) [***...***] prior to the start of a First
Launch Slot, a [***...***] period within the First Launch Slot (“First Launch Interval”) during which the First Launch Date will occur; and (iii) at least [***...***] prior to the start of a First Launch Interval,
the estimated First Launch Date. The Parties shall determine, no later than: (i) [***...***] after the actual first Launch Date, a [***...***] period within a Second Launch Period (“Second Launch Slot”) during
which the Second Launch Date will occur; (ii) [***...***] prior to the start of a Second Launch Slot, a [***...***] period within the Second Launch Slot (“Second Launch Interval”) during which the Second Launch
Date will occur; and (iii) at least [***...***] prior to the start of a Second Launch Interval, the Second Launch Date. The above-referenced dates and time frames shall be determined by mutual written consent of the Parties (such consent not
to be unreasonably withheld, conditioned or delayed), based on Launch Range availability, Launch Vehicle readiness, Satellite Batch readiness, weather and similar factors. 

  
 —
Proprietary and Confidential — 
 Page 4 
 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***. . .***]. A
COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 5.2 Satellite Batch Configuration and Delivery. 

(a) Configuration. Customer shall furnish SpaceX with written notice of the quantity of Satellites and/or Satellite Mass Simulators that shall form
the Satellite Batch to be supplied by Customer for a specific Launch Service, and SpaceX shall likewise notify Customer of secondary payload configuration, if any, as follows: (i) with respect to the Launch Service for the first Satellite
Batch, no later than [***...***] after the Effective Date; and (ii) with respect to the Launch Service for the second Satellite Batch, no later than [***...***] prior to the first day of the Second Launch Period; provided, however, that
in no case shall either Satellite Batch provided by Customer for either Launch Service consist of more than [***...***] Payloads and that in no case shall SpaceX be obligated to Launch a total of more than eighteen (18) Payloads over both Launch
Services. For the avoidance of doubt, following the first Launch Service, SpaceX shall be deemed to have discharged its obligation with respect to no fewer than [***...***], regardless of whether Customer elects to substitute mass ballast for one
or more Satellites in the initial Satellite Batch. 
 (b) Delivery to Launch Site. In any case, Customer shall deliver the relevant
Satellite Batch and Dispenser to the Launch Site at least four (4) weeks and not more than six (6) weeks prior to the applicable Launch Date, fully tested (with the exception of standard post-shipment testing) and ready for integration
with the Launch Vehicle. 
 5.3 Periodic Certifications. Beginning [***...***] 2013, and every [***...***] thereafter until
the relevant Launch, for each Launch Service, each Party shall certify (in writing) to the other if production of the Launch Vehicle or Satellite Batch (as applicable) is on schedule for the relevant Launch Date or not. With respect to a Satellite
Batch, the [***...***] certification must include the launch readiness date as well as the status of each Satellite of the relevant Satellite Batch as of the date of certification. With respect to the Launch Vehicle, the certification must
include the launch readiness date as well as the status of the relevant Launch Vehicle prior to the relevant Launch. In the event of an anticipated delay in production of the Launch Vehicle or a Satellite Batch (as applicable), the Party
experiencing the delay shall provide a bona fide estimate of the duration of the delay. Notwithstanding the foregoing, the Parties acknowledge and agree that any delay fees (described in Section 9 (Delays)) shall apply only to
actual Launch delays beyond the First Launch Period or Second Launch Period, as applicable, and not anticipated production or other delays. 

5.4 Launch Manifest. SpaceX seeks to avoid launch scheduling conflicts when allocating launch slots on the SpaceX manifest. [***...***] With
respect to a manifest conflict affecting Customer’s second Launch Service, SpaceX will manage manifest, production and launch date decision making per the following priorities: 

[***...***] 

  
 —
Proprietary and Confidential — 
 Page 5 
 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***. . .***]. A
COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 Following a launch displacement by a higher-priority launch at the Launch Site, and subject to the terms and
conditions of this Agreement, SpaceX shall retain the pre-existing launch order (rather than move the displaced mission to a subsequent vacant launch period). 
 In the event of a launch delay by SpaceX, and subject to the other terms and conditions of this Agreement, the pre-existing order of launches at the Launch Site shall be maintained, unless the reason for
the SpaceX delay is unique to the interface of the Satellite Batch and the Launch Vehicle, subject to the other terms and conditions of this Agreement, SpaceX shall reschedule Customer’s Launch Date during any subsequent unoccupied time
period selected by Customer of at least [***...***], as indicated on the schedule to be provided by SpaceX. 
 5.5 Launch Vehicle
Upgrades. Beginning on [***...***], through [***...***], SpaceX shall use commercially reasonable efforts to accommodate up to [***...***] individual U.S. person direct employees of Customer to attend, solely as a passive observer,
design briefings held for commercial customer(s) of SpaceX (subject to the consent of such customer(s)), involving development of the Falcon 9 launch vehicle, [***...***]; specifically, the [***...***]. For the avoidance of doubt,
Customer’s attendance as a passive observer shall not give rise to any concurrence or approval authority for Customer with respect to any of the Falcon 9 launch vehicle, [***...***], nor shall it obligate SpaceX to seek Customer’s
concurrence or approval with respect to any aspect of the Falcon 9 launch vehicle, [***...***], development. 
 6. Taxes. Should
Taxes be levied on the services or payments contemplated herein (other than Taxes on the income of the Parties), Customer shall be responsible for all Taxes related to the Satellite Batch and every Satellite (“Customer
Taxes”) and SpaceX shall be responsible for all Taxes related to the Launch Vehicle and the Launch Services. Customer Taxes are not included in the Contract Price and shall be borne by Customer in addition to the Contract Price. Where
SpaceX is required by law to withhold Customer Taxes, SpaceX shall notify and provide Customer evidence of such requirement and Customer shall pay SpaceX the full amount of such withheld Customer Taxes in addition to the Contract Price. 

7. Third Party Liability for Launch Activities. 
 7.1 Insurance. SpaceX shall satisfy (at its own expense) third party launch liability insurance requirements in the amounts and consistent with applicable United States federal regulations and
statutes governing commercial space launch. SpaceX shall name as additional insureds (among others), Customer, any customer of Customer directly involved in Launch Activities, Customer’s Related Third Parties directly involved

  
 —
Proprietary and Confidential — 
 Page 6 
 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***. . .***]. A
COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 
in Launch Activities, any third party payload customers, any customers of a third party payload customer directly involved in Launch Activities, and SpaceX’s Related Third Parties directly
involved in Launch Activities. Such insurance shall cover death, bodily injury, property loss and damage to third parties for such launch activities as are prescribed by the CSLA and the terms of the launch license issued to SpaceX pursuant thereto
(“Launch Activities”). Third-party launch liability insurance does not cover any loss or damage to the Satellite Batch or any Satellite, or any Customer property, equipment, or personnel (or the property, equipment, or
personnel of Customer’s Related Third Parties). Any insurance coverage for the Satellite Batches (including any and all Satellite(s) grouped therein), Customer property, equipment, and personnel (and the property, equipment, or personnel of
Customer’s Related Third Parties) at any time during the Agreement, including any static fires of the Launch Vehicle, shall be the sole responsibility of Customer and shall be purchased no later than the applicable Satellite Batch arriving at
the Launch Site. Launch or On-orbit insurance policies shall be purchased by Customer at least [***...***] prior to the applicable Launch Date, and Customer shall initiate discussions with insurance providers for Launch or On-orbit insurance
policies at least [***...***] prior to the applicable Launch Date. All insurance policies purchased by Customer shall expressly waive rights of subrogation as to SpaceX and its Related Third Parties. Copies of Customer policies under this
Section 7.1 (Insurance) shall be provided to SpaceX no later than [***...***] after the purchase of such policies. 
 7.2
Excess Third Party Liability for Launch Activities. To the extent not covered by third party launch liability insurance or eligible for coverage by the United States Government pursuant to the CSLA, SpaceX shall be exclusively liable to third
parties for any death, injury, loss or damage arising from the Launch Activities caused by SpaceX or its equipment (including the Launch Vehicle or parts or components thereof), and Customer shall be exclusively liable to third parties for any
death, injury, loss or damage arising from the Launch Activities caused by Customer or its equipment (including the Satellite Batch or any Satellite or parts or components thereof). 
 8. Cross-Waivers; Indemnification. 
 8.1 Waivers. Each Party hereby agrees not to sue
or otherwise bring a claim against the other Party, such Party’s Related Third Parties or the U.S. Government or its contractors or subcontractors for any injury, death, property loss or damage (including loss of or damage to the Satellite
Batch or any Satellite, the Launch Vehicle, or other financial loss), sustained by it or its employees, officers, directors or agents, arising in any manner out of or in connection with activities relating to the performance of this Agreement.

  
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COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 8.2 Extension of Waivers. Each Party hereby agrees to extend the waiver of claims and release of
liability herein to their respective contractors, subcontractors and insurers, requiring them to waive (in writing) the right to sue or otherwise bring a claim against the other Party or that Party’s Related Third Parties for any injury, death,
property loss or damage (including loss of or damage to the Satellite Batch or any Satellite, the Launch Vehicle, or other financial loss) sustained by them or any of their employees, officers, directors or agents, arising in any manner out of or in
connection with activities relating to the performance of this Agreement. 
 8.3 Indemnification. Each Party hereby agrees that it shall
indemnify and hold harmless the other Party from and against any liability or expense, including attorneys’ fees, resulting from any suit or claim by the indemnifying Party’s Related Third Parties for any injury, death, property loss or
damage (including loss of or damage to the Satellite Batch or any Satellite, the Launch Vehicle, or other financial loss) sustained by it or any of its employees, officers, directors or agents, arising in any manner out of or in connection with
activities relating to the performance of this Agreement. 
 8.4 Applicability. The obligation to waive claims shall apply to the
Parties’ contractors, subcontractors and insurers (at every tier) that are involved in activities relating to the performance of this Agreement. The waivers shall apply regardless of the theory of liability, whether based in contract, tort,
equity or otherwise, including negligence, product liability, strict liability, or any other theory of liability. Each Party agrees to obtain insurance as it deems necessary to cover death, injury, loss or damage for which it has waived the right to
sue or bring a claim against the other Party, and each Party agrees to obtain a waiver of subrogation rights from any insurer providing such insurance coverage. Nothing in this Section 8 (Cross-Waivers; Indemnification) shall preclude
either Party from suing or otherwise bringing a claim against its own Related Third Parties. The Parties agree to memorialize certain of the rights and obligations described in this Section 8 (Cross-Waivers; Indemnification) in an
agreement advised or required by the appropriate U.S. regulatory authorities, to include execution of the form of cross-waivers substantially in the form of attached Exhibit C. 

9. Delays. For the avoidance of doubt in Sections 9.2 and 9.3 only, any delays attributable to one party shall not toll or otherwise affect
concurrent delays attributable to the other party. 
 9.1 Excusable Delays. Neither Party shall be liable for any delay or failure in the
performance of its obligations under this Agreement in the event such delay or failure is due to an Excusable Delay. Failure by either Party timely to obtain any required governmental license, permit or authorization shall not be an Excusable Delay.
Subject to this Section 9.1 (Excusable Delays) and Section 14 (Termination), the period of 

  
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performance for each Party under this Agreement shall be extended by the duration of any Excusable Delay. A Party seeking to invoke this Section 9.1 shall notify the other Party writing
within [***...***] of the occurrence of an Excusable Delay, including a reasonable description of the causes thereof and such Parties’ efforts to avoid the Excusable Delay or mitigate the impact thereof, and a reasonable extension period
will be agreed to by both Parties in writing. Notwithstanding the foregoing, in the event one or more Excusable Delays result in an aggregate Excusable Delay attributable to a Party in excess of [***...***] for a Launch Service, the other Party
shall have the right to [***...***]. In the event of a termination of a Launch Service by Customer for Excusable Delay by SpaceX, [***...***], within [***...***] of any such termination. In the event of [***...***] by SpaceX for
Excusable Delay by Customer, SpaceX shall fully retain the [***...***] and [***...***] of any remaining amounts paid by Customer hereunder for [***...***], or the [***...***] and [***...***] of any remaining amounts paid by
Customer [***...***], without further obligation or liability to Customer and shall [***...***], within [***...***] of any such [***...***]. For the avoidance of doubt, any delay attributable to failure on the part of Customer’s or
SpaceX’s contractor(s) or subcontractor(s) timely delivery of any Satellite or Dispenser or component, other than an Excusable Delay on the part of such contractor(s) or subcontractor(s), shall for purposes of this Agreement be considered
[***...***], as relevant, and shall not be considered an Excusable Delay hereunder. 
 9.2 Customer Delays. Excluding Excusable Delays
and irrespective of SpaceX launch readiness, if Customer’s actual launch readiness is delayed for a period exceeding one hundred eighty (180) days (in the aggregate) beyond the last day of an applicable Launch Period (or if Customer
requests such delay), Customer agrees to pay SpaceX delay fees based on the following schedule: [***...***]. Any fractional month(s) shall be calculated on a pro rata basis and nothing in this Section 9.2 (Customer Delays)
shall be construed as permitting delayed payment of any amounts owed by Customer hereunder. [***...***]. SpaceX shall not be responsible for Satellite Batch, Dispenser or other Customer equipment storage costs in the event of a delayed Launch,
whether or not such delay is an Excusable Delay. For the avoidance of doubt, [***...***]. 
 9.3 SpaceX Delays. Excluding Excusable
Delays and irrespective of Customer’s launch readiness, if SpaceX’s actual launch readiness is delayed for a period exceeding one hundred eighty (180) days (in the aggregate) beyond the last day of the applicable Launch Period (or if
SpaceX requests such a delay), SpaceX agrees to pay Customer delay fees based on the following schedule: [***...***]. Any fractional month(s) shall be calculated on a pro rata basis. 

  
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 9.4 Payment. Any delay fees owed hereunder shall be payable monthly in arrears. 

10. Intellectual Property. At no time shall either Party have any ownership rights, other rights or license to any Inventions of the other Party
(or the other Party’s Related Third Parties) including, without limitation, any Inventions conceived and first reduced to practice during performance of this Agreement. The Parties do not intend to jointly develop any Inventions hereunder.

 11. Confidentiality. 

11.1 Confidentiality of Agreement. Neither Party shall disclose any terms of this Agreement to any third party without the prior written consent of
the other Party, except as necessary in the reasonable judgment of a Party to comply with judicial or other governmental requirement, or when disclosure is required by a governmental agency or under applicable laws, including by the
U.S. Securities and Exchange Commission or any securities exchange on which the securities of a Party or its affiliates are then trading, or as otherwise expressly provided herein, and with reasonable notice provided in writing to the affected
Party at least five (5) business days in advance of the disclosure. 
 11.2 Announcements. 

No public announcement, release, or other disclosure of information relating to this Agreement, including the existence of this Agreement or either
Party’s performance, shall be made except by prior written agreement of the Parties, such agreement not to be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, either Party shall be permitted to make disclosures
necessary or in good faith determined to be reasonably necessary under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. [***...***]. 
 11.3 Proprietary Information. SpaceX and Customer each agree to retain in confidence all Proprietary Information of the other Party. Each Party agrees to: (i) preserve and protect the
confidentiality of the other Party’s Proprietary Information; (ii) refrain from using the other Party’s Proprietary Information except as contemplated in this Agreement; (iii) disclose the Proprietary Information only to its
directors, officers, employees and agents as is reasonably required in connection with the exercise of that Party’s rights and obligations under this Agreement and subject to a binding non-disclosure agreement that is at least as protective as
this Section 11 (Confidentiality); and (iv) not disclose Proprietary Information to any third party, provided, however, that each Party may disclose Proprietary Information of the other Party that is: (a) already in the public
domain through no fault of the disclosing Party; 

  
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(b) discovered or created by the receiving Party without reference to the Proprietary Information of the disclosing Party; (c) otherwise made known to the receiving Party through no
wrongful conduct of the receiving Party or the entity providing the information to the receiving Party; or (d) required to be disclosed by judicial or other governmental action, order or regulation. The confidentiality obligations of this
Section 11 (Confidentiality) shall survive the expiration or termination of this Agreement for a period of five (5) years. 

11.4 Exceptions. Notwithstanding any provision of this Section 11 (Confidentiality) to the contrary, each Party may, subject to
applicable export control laws and regulations, disclose Proprietary Information, including the terms of this Agreement: (i) in confidence, to legal counsel; (ii) in confidence, to accountants, bankers, and other financing sources, solely
for the purposes of securing or maintaining financing; (iii) in confidence, to such party’s insurance broker and any insurers solely for the purposes of securing insurance and in settling any claim for loss; (iv) in connection with
the enforcement of this Agreement; and (v) in confidence, in connection with the due diligence investigation of a merger, acquisition, or similar transaction. 
 12. Limitations of Liability and Disclaimer of Warranties. 
 12.1 LIMITATION OF DAMAGES.
IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, FOR THE COST OF PROCUREMENT OF SUBSTITUTE PRODUCTS OR SERVICES, OR FOR LOST REVENUES OR PROFITS, ARISING OUT OF OR IN
CONNECTION WITH THIS AGREEMENT, HOWSOEVER CAUSED AND REGARDLESS OF THE THEORY OF LIABILITY, WHETHER BASED IN CONTRACT, TORT, EQUITY OR OTHERWISE, INCLUDING NEGLIGENCE, PRODUCT LIABILITY, STRICT LIABILITY, OR ANY OTHER THEORY OF LIABILITY.

 12.2 LIMITATION OF LIABILITY. TO THE FULL EXTENT PERMITTED BY LAW, SPACEX’S TOTAL AND CUMULATIVE LIABILITY ARISING OUT OF OR IN
CONNECTION WITH THIS AGREEMENT HOWSOEVER CAUSED AND REGARDLESS OF THE THEORY OF LIABILITY, WHETHER BASED IN CONTRACT, TORT, EQUITY OR OTHERWISE, INCLUDING NEGLIGENCE, PRODUCT LIABILITY, STRICT LIABILITY, OR ANY OTHER THEORY OF LIABILITY, SHALL IN NO
EVENT EXCEED [***...***]. SPACEX SHALL NOT BE LIABLE FOR ANY DAMAGE TO THE SATELLITE BATCH AND ANY SATELLITE AND SATELLITE-RELATED EQUIPMENT (INCLUDING DISPENSER AND RELATED EQUIPMENT) FROM MANUFACTURE THROUGH DELIVERY, INTEGRATION, STATIC
FIRES OF THE LAUNCH VEHICLE AND OTHER PRE-LAUNCH ACTIVITIES, LAUNCH, AND ON-

  
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ORBIT OPERATIONS. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 7.1 (INSURANCE), CUSTOMER SHALL BE RESPONSIBLE FOR PROCURING ALL INSURANCES RELATED TO THE SATELLITE BATCH AND EVERY SATELLITE AND
DISPENSER (WITH EXPRESS WAIVERS OF SUBROGATION AS TO SPACEX AND ITS RELATED THIRD PARTIES). 
 12.3 DISCLAIMER OF WARRANTIES. SPACEX HAS
NOT MADE, NOR DOES IT MAKE, ANY REPRESENTATION OR WARRANTY, WHETHER WRITTEN OR ORAL, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF DESIGN, OPERATION, QUALITY, WORKMANSHIP, SUITABILITY, RESULT, MERCHANTABILITY, OR FITNESS FOR A
PARTICULAR PURPOSE WITH RESPECT TO THE LAUNCH VEHICLES, THE LAUNCH SERVICES, OR ANY ASSOCIATED EQUIPMENT OR SERVICES. ANY IMPLIED WARRANTIES, INCLUDING WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, ARE HEREBY EXPRESSLY
DISCLAIMED. 
 12.4 Application. The limitations set forth in this Section 12 (Limitations of Liability and Disclaimer of
Warranties) shall apply even if the Parties have been advised of the possibility of such losses or damages, and notwithstanding any failure of essential purpose of any limited remedy set forth in this Agreement. The Parties acknowledge that the
amounts payable hereunder are based in part on the limitations set forth in this Section 12 (Limitations of Liability and Disclaimer of Warranties) and that such limitations are a bargained-for and essential part of this Agreement.

 13. Destruction of the Launch Vehicle and Satellite Batch. The Launch Range safety official is authorized to destroy a Launch Vehicle
and the applicable Satellite Batch, without liability to either Party or either Party’s Related Third Parties. 
 14. Termination.

 14.1 Mutual Agreement. This Agreement may be terminated by mutual consent of the Parties in a writing signed by duly authorized
representatives of each Party. 
 14.2 Customer’s Right to Terminate. Provided Customer is not currently in default of a material
provision of this Agreement, Customer may terminate this Agreement upon [***...***] prior written notice to SpaceX, as follows: 
 (a)
Termination for Convenience. In the case where the first Launch under this Agreement has yet to occur: at Customer’s convenience and for any reason, Customer may terminate this Agreement, subject to a termination for convenience fee
retained by SpaceX equal to [***...***] of the Down Payment and [***...***] of any Milestone 

  
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Payments paid or payable as of [***...***], which amounts SpaceX shall retain without further obligation or liability to Customer. Following the occurrence of the first Launch under this
Agreement, at Customer’s convenience and for any reason: (i) outside of six (6) months prior to the first day of the Second Launch Period (as initially established by the Parties unless the Launch Period has been postponed for reasons
attributable to SpaceX, in which case the Launch Period shall be the currently-designated Launch Date), subject to a termination for convenience fee retained by SpaceX equal to [***...***] of the Down Payment and [***...***] of any
Milestone Payments paid or payable as of the effective date of termination, which amounts SpaceX shall retain without further obligation or liability to Customer; or (ii) within six (6) months prior to the first day of the Second Launch
Period (as initially established by the Parties unless the Launch Period has been postponed for reasons attributable to SpaceX, in which case the Launch Period shall be the currently-designated Launch Date), subject to a termination for convenience
fee retained by SpaceX equal to [***...***] of all amounts paid under this Agreement, which amounts SpaceX shall retain without further obligation or liability to Customer. [***...***] Any amounts required to be refunded to Customer under
this Section 14.2(a) shall be paid by SpaceX to Customer within [***...***] of notice of such termination. 
 (b) Termination for
Delay. In the event SpaceX has delayed or provided notice of delay of either Launch, other than for Excusable Delays, for an aggregate period exceeding three hundred sixty-five (365) days beyond the last day of a Launch Period (not
including any coinciding or overlapping period of delay attributable to Customer), Customer shall have the right to terminate in Customer’s discretion either or both of the Launch Services (to the extent such Launch Service(s) have not yet been
performed) and obtain a refund of payments made under this Agreement in connection with the affected Launch Service(s), such right to be elected by Customer in writing and within [***...***] following the conclusion of such three hundred
sixty-five (365) day period. With respect to any Launch Service terminated by Customer, Customer shall have no further obligation or liability to SpaceX for such Launch Service. Unless disputed, any amounts required to be refunded to Customer
under this Section 14.2(b) shall be paid by SpaceX to Customer within [***...***] of notice of such termination. 
 (c) Termination
for Cause. In the event of a material breach by SpaceX of its obligations under this Agreement, and if after having been given written notice of the same by Customer, SpaceX fails to cure such material breach within [***...***] of receipt of
such notice, Customer shall have the right to obtain a refund of any payments attributable under the terms of this Agreement to any Launch not already performed hereunder or of payments made under this Agreement in connection with the affected
Launch Service, such right to be elected by Customer in writing and within [***...***] 

  
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following the conclusion of such [***...***] period. Other than as provided for in Section 14.2(b) (Termination for Delay), delay by SpaceX in achieving a milestone or delay in
performing the Launch Service (whether Excusable Delay or not), shall not be deemed a material breach by SpaceX hereunder; and (ii) nothing in this Agreement shall be construed as in any way obligating SpaceX to refund any payments made in
connection with any Launch already performed hereunder. Any amounts required to be refunded to Customer under this Section 14.2(c) shall be paid by SpaceX to Customer within [***...***] of notice of such termination. 

(d) Special Termination Right. In the event that SpaceX alone has delayed or provided notice of delay of the First Launch Date, for an aggregate
period (exclusive of Excusable Delay and/or coinciding delay(s) caused or requested by Customer) exceeding one hundred eight (180) days beyond the last day of the first Launch Period, [***...***] Customer’s special termination right
must be exercised by a written notice that is executed by a corporate officer. Following such termination, Customer shall have no further obligation or liability to SpaceX for such first Launch Service, and SpaceX shall have no further obligation or
liability to Customer for such first Launch Service, and SpaceX’s obligation with respect to the remaining Launch Service shall be limited to launching a Satellite Batch consisting of no more than [***...***] with [***...***]. Any amounts
required to be refunded to Customer under this Section 14.2(d) shall be paid by SpaceX to Customer within [***...***] of notice of such termination. 
 14.3 SpaceX’s Right to Terminate. Provided SpaceX is not currently in default of a material provision of this Agreement, SpaceX shall have the right to terminate this Agreement and retain all
payments made and all payments owed by Customer hereunder as of the date of termination without further obligation or liability to Customer, as follows: 
 (a) Termination for Cause. In the event of material breach by Customer of its obligations under this Agreement (including any payment obligation hereunder), and if after having been given written
notice of the same by SpaceX, Customer fails to cure such material breach within: (i) [***...***] of receipt of such notice in the event the material breach involves a payment obligation; or (ii) [***...***] of receipt of such notice
in the event the material breach does not involve a payment obligation, provided that other than as provided for in Section 14.3(b) (Termination for Delay) Customer delays shall not be deemed a material breach by Customer hereunder; or

 (b) Termination for Delay. In the event Customer has delayed or provided notice of delay of either Launch, other than for Excusable
Delays, for an aggregate period exceeding three hundred sixty-five (365) days beyond the last day of a Launch Period 

  
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(not including any coinciding or overlapping period of delay attributable to SpaceX), then SpaceX shall have the right to terminate the applicable Launch Service, such right to be elected by
SpaceX in writing and within [***...***] following the conclusion of such three hundred sixty-five (365) day period. With respect to any Launch Service terminated by SpaceX under this Section 14.3(b), SpaceX shall [***...***] and
have no further obligation or liability to Customer for such Launch Service. 
 15. Licenses. Each Party shall be responsible for
obtaining any licenses, authorizations, clearances, approvals or permits necessary to carry out its obligations under this Agreement (“Licenses”). Each Party agrees to provide reasonable assistance to the other Party as necessary to
obtain such Licenses. SpaceX shall be responsible for obtaining any Licenses required for the Launch of a Launch Vehicle and Customer shall be responsible for obtaining any Licenses required to launch and operate the Satellite Batch and each
Satellite. SpaceX and Customer agree to provide information and execute any documentation needed to obtain such Licenses pursuant to applicable U.S. laws and regulations, including the AECA and the CSLA. In the event that either Party is unable
to obtain a requisite License, then such Party’s inability to obtain a License shall be deemed to be a material breach of this Agreement by such Party. 
 16. Compliance with Government Requirements. SpaceX and Customer shall comply with the applicable national, federal, state and local laws and regulations, and all Licenses issued in connection with
the performance of this Agreement. In addition, SpaceX and Customer shall comply with all U.S. export and import laws, regulations, rules, licenses and agreements related to the Launch of the Satellite Batch, including but not limited to the
ITAR and EAR. Customer shall be responsible for registration of the Satellite Batch and every Satellite, and SpaceX shall be responsible for registration of the Launch Vehicles, pursuant to the Convention on Registration of Objects Launched Into
Outer Space, done January 14, 1975. 
 17. Failure Review. 
 If any configuration of the Falcon 9 launch vehicle, [***...***], or its derivatives, experiences a launch failure, then SpaceX shall only perform subsequent Launch Services under this Agreement
once the most probable cause of the failure has been identified and corrective actions have been implemented to the satisfaction of the applicable failure review team convened by SpaceX to evaluate the root cause of such failure. SpaceX shall
present to Customer the results of the final investigation by the failure review team including probable cause of failure, corrective action and impact on the Launch Services subject to the confidentiality obligations under this Agreement and other
reasonable measures to protect proprietary information and applicable export control laws and regulations. 

  
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 18. Notices. 
 18.1 Transmittal. All notices and other transmittals under this Agreement shall be in writing and shall be hand-delivered or sent via express mail, first class mail, or electronic mail to the
addresses specified below with written or electronic confirmation of receipt, as applicable. 
 18.2 Notice Date. The date upon which any
such communication is hand-delivered or, if such communication is sent by mail or by electronic transmission, the date upon which the addressee receives it shall be the effective date of such communication. 

18.3 Change of Address. Each Party shall promptly notify the other in the event of any change in its address or designated contacts. 

 

			
	For correspondence sent to SpaceX:	  	With copies to:
	Space Exploration Technologies Corp.	  	Space Exploration Technologies Corp.
	1 Rocket Road	  	1030 15th Street, NW, Suite 220E
	Hawthorne, CA 90250	  	Washington, DC 20005
	Attn: [***...***]	  	Attn: [***...***]
	PH.: [***...***]	  	PH.: [***...***]
	Fax: [***...***]	  	Fax: [***...***]
	Email: [***...***]	  	Email: [***...***]
		
	For correspondence sent to Customer:	  	With a separately delivered copy to:
		
	ORBCOMM Inc.	  	ORBCOMM Inc.
	2115 Linwood Avenue	  	22265 Pacific Boulevard
	Fort Lee, NJ 07024	  	Dulles, VA 20166
	Attn: [***...***]	  	Attn: [***...***]
	PH.: [***...***]	  	PH.: [***...***]
	Fax: [***...***]	  	Fax: [***...***]
	Email: [***...***]	  	Email: [***...***]

 18.4 Application. All written notices contemplated by this Agreement shall be provided in accordance with this
Section 18 (Notices). 

  
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 19. Attachments. 
 19.1 Incorporation by Reference. The following attachments are incorporated into this Agreement by reference and shall be an integral part of this Agreement: (a) Exhibit A,
Defined Terms; (b) Exhibit B, Statement of Work; (c) Exhibit C, Form of Cross-Waiver; (d) Exhibit D, Interface Control Document; and (e) Exhibit E, Launch
Manifest Priority. 
 19.2 Precedence. In the event of conflict between the terms and conditions of this Agreement and any of its
attachments, the terms and conditions of this Agreement shall govern. In the event of a conflict among the attachments, the sequence shall be as follows, in descending order of precedence: [***...***]. 

20. Severability. If any portion of this Agreement is held invalid, the Parties agree that such invalidity shall not affect the validity of the
remaining portions of this Agreement, unless applying such remaining portions would frustrate the purpose of this Agreement. 
 21. Waiver.
The failure of either Party to exercise any right granted in this Agreement or to require the performance of any term of this Agreement (or the waiver by either Party of any breach of this Agreement) shall not prevent a subsequent exercise or
enforcement of, or be deemed a waiver of any subsequent breach of, the same or any other term of this Agreement. 
 22. No Joint Venture or
Agency. Nothing in this Agreement shall constitute or create a joint venture, partnership, or similar arrangement between the Parties. No Party is authorized to act as agent for the other Party, except as expressly stated herein. 

23. Assignment. Subject to compliance with applicable law, either Party may assign, delegate or otherwise transfer this Agreement, or any rights
or obligations under this Agreement, to any successor by way of merger, acquisition or sale of all or substantially all of the assets relating to the performance of this Agreement. SpaceX or its successor may also assign all or part of the right to
receive payments under this Agreement, provided that SpaceX or its successor continue to perform the applicable obligations under this Agreement, and if requested, provide to Customer written assurances to such effect. Any assignment, delegation, or
transfer of this Agreement made in contravention of the terms hereof shall be null and void. Subject to the foregoing, this Agreement shall be binding on and inure to the benefit of the Parties’ respective successors and permitted assigns.

 24. Security Interests. Customer, upon prior written notice to SpaceX, may grant security interests in its rights hereunder to lenders
that provide financing to Customer. 

  
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In the event that either Party is sold to or merged into another entity, its responsibilities under this Agreement shall not be altered and the successor organization shall be liable for
performance of such Party’s obligations under this Agreement. If requested by Customer, SpaceX shall provide its written consent to such assignment (including the execution by SpaceX of a direct agreement or consent and agreement in favor of
the facility agent or equivalent on behalf of Customer’s lenders and any Financing Entities, in a form reasonably satisfactory to such agent and SpaceX and customary for financings) on terms and conditions as may be requested by Customer’s
lenders, provided that SpaceX’s consent would not impair, create a risk to, or otherwise prejudice its rights and benefits hereunder, increase its liabilities or obligations hereunder unless otherwise specified in this Agreement. 

25. Lender Requirements. 
 The Parties
recognize that certain of Customer’s payment obligations under this Agreement may be financed through external sources. Notwithstanding anything to the contrary in this Agreement, and except for the restrictions and conditions set forth in
Section 11 (Confidentiality), and subject to applicable export control laws and regulations, SpaceX shall provide to any of Customer’s lenders or Financing Entities any information that such Financing Entity reasonably requires and
shall reasonably cooperate with such Financing Entity and Customer to implement such financing. SpaceX agrees to negotiate in good faith and issue such documents as may be reasonably required by any Financing Entity to implement such financing,
including a contingent assignment of this Agreement to such Financing Entity, under terms reasonably acceptable to SpaceX, but in no event shall SpaceX be obligated to agree to anything (including agreement to make modifications to this Agreement or
the SOW that would impair, create a risk to, or otherwise prejudice its rights and benefits hereunder, increase its liabilities or obligations hereunder unless otherwise specified in this Agreement. 

26. Governing Law; Venue. This Agreement and its performance by the Parties shall be governed by and construed in accordance with the laws of the
State of New York, U.S.A., without regard to provisions on the conflicts of laws. The provisions of the United Nations Convention for the International Sale of Goods shall not be applicable to this Agreement. The Parties agree that all actions or
proceedings arising in connection with this Agreement shall be litigated exclusively in the State and Federal courts located in the State of New York, U.S.A. The aforementioned choice of venue is intended by the Parties to be mandatory and not
permissive in nature. Each Party hereby waives any right it may have to assert the doctrine of forum non conveniens, to object to venue with respect to any proceeding brought in accordance with this paragraph, or to assert

  
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COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 
any defense of sovereign immunity in any legal action, suit, proceeding or other claim arising under this Agreement. The Parties further stipulate that the State and Federal courts located in New
York shall have in personam jurisdiction and venue over each of them for the purpose of litigating any dispute, controversy, or proceeding arising out of or related to this Agreement. Each Party hereby authorizes and accepts service of
process sufficient for personal jurisdiction in any action against it as contemplated by this paragraph by registered or certified mail, return receipt requested, postage prepaid, to its address for the giving of notices as set forth in this
Agreement. Any final judgment rendered against a Party in any action or proceeding shall be conclusive as to the subject of such final judgment and may be enforced in other jurisdictions in any manner provided by law. 

27. Entire Agreement. This Agreement, and all attachments hereto, supersedes all prior communications, transactions, and understandings, whether
oral or written, with respect to the subject matter hereof and constitutes the sole and entire agreement between the Parties pertaining to the subject matter hereof. For the avoidance of doubt, any reference herein to the terminated Falcon 1e
Agreement is solely for purposes of acknowledging its termination by mutual agreement and providing historical context; nothing in this Agreement is intended to incorporate, preserve, extend, or restate any obligation or liability which may have
existed thereunder or arisen therefrom. 
 28. Modification. No modification or amendment to, or addition, deletion or waiver of any of
the terms or conditions of this Agreement shall be binding on either Party unless agreed by both Parties and evidenced by a written document signed by a duly authorized representative of each Party. 

29. Insurance Support. Subject to compliance with applicable law, SpaceX shall cooperate with Customer’s efforts to obtain and maintain, and
to file and settle any claims under, launch insurance for the Satellite Batch, including without limitation, preparing an industry-standard insurance briefing package, responding to insurers’ questions, delivering requested information
regarding the Launch Vehicle and the Launch Range, conducting insurance briefings and facilitating site inspections as required to obtain and maintain such insurance. 
 30. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. This Agreement may be executed
by facsimile or other equivalent electronic signature which signatures shall constitute original signatures. 
 31. Fees and Expenses.
The late fees (described in Section 4.5 (Late Fees)), delay fees (described in Section 9 (Delays)) and termination fees (described in Section 14 

  
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COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 
(Termination)) represent the Parties’ current, reasonable and good faith estimates of damages to be incurred as a result of delay or termination and do not serve as a penalty.

 [SIGNATURES ON FOLLOWING PAGE] 

  
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COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement by their duly authorized
officers effective as of the Effective Date. 
  

									
	Space Exploration Technologies Corp.	 		 	ORBCOMM Inc.
					
	By:	 	 /S/ Gwynne Shotwell
	 		 	By:	 	 /S/ Marc Eisenberg

	Name:	 	Gwynne Shotwell, President	 		 	Name:	 	Marc Eisenberg, Chief Executive Officer
					
	Date:	 	December 21, 2012	 		 	Date:	 	December 21, 2012

  
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COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 EXHIBIT A 

DEFINED TERMS 

“AECA” means the Arms Export Control Act of 1976, as amended, 22 U.S.C. § 2778, and the regulations promulgated
thereunder, including: ITAR and the regulations for the Importation of Arms, Ammunition and Implements of War, 27 C.F.R. Part 447. 

“Agreement” shall have the meaning set forth in the introductory paragraph. 

“Contract Price” shall have the meaning set forth in Section 3 (Price). 

“Constructive Total Failure” means that, due directly to a Deviation, either of the following situations occur, as reasonably
determined by available flight telemetry data or other objective evidence: (a) each Satellite’s capability to operate in accordance with its performance specifications is reduced by [***...***] or more; or (b) each Satellite’s
ability to operate for its intended commercial lifetime is reduced by [***...***] or more. A determination of Constructive Total Failure shall be made no later than forty-five (45) days after the Launch Date. For the sake of clarity,
measurement of a Satellite’s capability to operate shall be determined solely based on [***...***]. For purposes of a Launch and In-Orbit Insurance policy, if any (and not for any other purpose hereunder), this definition may be modified
independently of this Agreement to reflect the meaning ascribed to the concept of “constructive total loss” or “constructive total failure”, as applicable, in Customer’s policy of Launch and In-Orbit Insurance, if any, in
place at the time of the applicable Launch. 
 “CSLA” means the Commercial Space Launch Act, as amended, 51 U.S.C.
§§ 50901, et seq., and the regulations issued pursuant thereto, including: the Commercial Space Transportation Regulations, 14 C.F.R. Parts 400-460. 
 “Customer” shall have the meaning set forth in the introductory paragraph. 

“Customer Taxes” shall have the meaning set forth in Section 6 (Taxes). 

“Deviation” means, due primarily to the Launch Vehicle (and not due primarily to the Satellite Batch, any Satellite, Dispenser or
separation system), material non-compliance with the specifications included in the Interface Control Document, including its reference documents, applicable documents and annexes, with respect to: [***...***]. 

  
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COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 “Dispenser” means the hardware, including the strongback adaptor and/or ESPA Ring
adaptor, to be delivered to the Launch Site for integration with a Launch Vehicle (including all embedded firmware and software) to interface with, integrate the Satellites as a Satellite Batch, and separate and deploy the Satellites into their
designated orbit. The Dispenser is not considered an integral part of the Launch Vehicle for purposes of this Agreement and shall be separately procured by Customer. 
 “Down Payment” shall have the meaning set forth in Section 4.1 (Down Payment). 
 “EAR” means the Export Administration Regulations administered by the Bureau of Industry and Security, U.S. Department of Commerce, 15 C.F.R. Parts 730-744, in effect
under the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701-1707, pursuant to Executive Order 13222 of August 17, 2001. 
 “Effective Date” shall have the meaning set forth in the introductory paragraph. 
 “Excusable Delays” means a delay by a Party in the performance of its obligations or commitments under this Agreement that is beyond the control of such Party and not due to its
fault or negligence in reasonably anticipating and avoiding such delays, including acts of God, acts of government in its sovereign capacity, launch range unavailability for Launch, acts or threat of terrorism, earthquake, riot, revolution,
hijacking, fire, embargo, sabotage, or interruption of essential services such as electricity, natural gas, fuels and/or water. Notwithstanding the above, other than an Excusable Delay applicable to contractor or subcontractor, failure by a
contractor or subcontractor of Customer (including the contractor responsible for manufacture of the Satellites and/or the Dispenser, and its contractors and subcontractors) to timely perform it obligations to Customer and/or deliver any Satellite,
Satellite Batch, or component thereof, or Dispenser or component thereof, and/or failure of either Party timely to obtain any required governmental license, permit or authorization shall not be deemed an Excusable Delay. 

“Falcon 1e Agreement” shall have the meaning set forth in the recitals of this Agreement. 

“Financing Entity(ies)” means any entity (other than SpaceX or parties related to SpaceX), which has been specifically identified
in a written notification to SpaceX as providing financing Customer. 
 “First Launch Date” shall have the meaning set
forth in Section 5.1 (Scheduling). 
 “First Launch Interval” shall have the meaning set forth in
Section 5.1 (Scheduling). 

  
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COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 “First Launch Period” shall have the meaning set forth in Section 5.1
(Scheduling). 
 “First Launch Slot” shall have the meaning set forth in Section 5.1. (Scheduling).

 “Intentional Ignition” means any time prior to Launch when the ignition command is given for the purpose of ignition
of the first stage of a Launch Vehicle. 
 “Interface Control Document” means that document to be attached as
Exhibit D to this Agreement, which shall be prepared by SpaceX with data to be supplied by Customer, negotiated in good faith and mutually agreed upon in writing by both Parties prior to the beginning of the first Launch Period.

 “Inventions” means all ideas, designs, concepts, techniques, inventions, discoveries, works of authorship,
modifications, improvements, or derivative works, regardless of patentability. 
 “ITAR” means the International Traffic
in Arms Regulations administered by the Directorate of Defense Trade Controls, U.S. Department of State, 22 C.F.R. Parts 120-130, pursuant to the AECA. 
 “Launch” means Intentional Ignition, for the purpose of Satellite Batch carriage, followed by either (i) Lift-Off or (ii) the loss or destruction of the Satellite Batch
and/or the Launch Vehicle. 
 “Launch Activities” shall have the meaning set forth in Section 7.1
(Insurance). 
 “Launch and In-Orbit Insurance” means insurance purchased by Customer or any
affiliate, or Related Third Party of Customer covering either or both of: (i) the risks of loss with respect to the Satellites; and (ii) the value of the Launch Service. 
 “Launch Date” shall mean either the First Launch Date or the Second Launch Date, as the case may be. If a Launch Date has not yet been established in accordance with this
Agreement, the Launch Date shall be deemed to be the last day of the applicable Launch Period, Launch Slot, or Launch Interval, as applicable. 

“Launch Failure” means either (a) Total Failure or (b) Constructive Total Failure. 

“Launch Interval” shall mean either the First Launch Interval or the Second Launch Interval, as the case may be. 

“Launch Period” shall mean either the First Launch Period or the Second Launch Period, as the case may be. 

  
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COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 “Launch Price” shall have the meaning set forth in Section 3 (Price).

 “Launch Range” means the U.S. Governmental authorities and office with jurisdiction over the Launch Site.

 “Launch Service” means those services, including the Launch, described in the SOW for a distinct mission to be
performed by SpaceX under this Agreement. 
 “Launch Site” means the SpaceX launch facility at Cape Canaveral, Florida,
or another site mutually agreed upon by the Parties. 
 “Launch Slot” shall mean either the First Launch Slot or the
Second Launch Slot, as the case may be. 
 “Launch Vehicle” shall mean the SpaceX Falcon 9 launch vehicle,
[***...***], with a fairing configuration and as configured by SpaceX to perform the Launch of the applicable Satellite Batch. 

“Licenses” shall have the meaning set forth in Section 15 (Licenses). 

“Lift-Off” means physical separation of the applicable Launch Vehicle from the launch pad and release of the hold-down
restraints. 
 “Milestone Payment” shall have the meaning set forth in Section 4.2 (Milestone Payments).

 “Non-Interference Basis” shall mean, with respect to any additional payload, such additional payload does not
adversely affect a Satellite with respect to the following parameters: orbit; inclination; envelope; mass; attachment hardware; natural frequency; or launch schedule. 
 “Parties” shall mean Customer and SpaceX. 

“Party” shall mean Customer or SpaceX. 
 “Payload” shall mean a Satellite or Satellite Mass Simulator. 

“Payloads” shall mean Satellites and/or Satellite Mass Simulators. 
 “Proprietary Information” means all non-public confidential, proprietary and trade secret information and materials, whether in written, oral, electronic or other format, including
all business, technical and other information that is marked as “Confidential” or “Proprietary” or that a reasonable person would assume to be confidential based upon the subject matter of such information or the manner in which
it was disclosed. 

  
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COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 “Related Third Parties” means (a) the Parties’ respective
contractors and subcontractors involved in the performance of this Agreement and their respective directors, officers, employees, and agents; (b) the Parties’ respective directors, officers, employees, and agents; and
(c) any entity or person with any valid interest in the Satellite Batches, the Launch Services or the ground support equipment. For the avoidance of doubt, the Related Third Parties of Customer shall be deemed to include the manufacturer
of the Dispenser. 
 “Satellite” means any Orbcomm Generation 2 Satellite forming part of a Satellite Batch
supplied by Customer for Launch by SpaceX pursuant to this Agreement. 
 “Satellite Batch” shall have the meaning set
forth in the recitals of this Agreement. For the avoidance of doubt: a Satellite Batch may consist of Satellites or a combination of Satellites and Satellite Mass Simulators. 
 “Second Launch Date” shall have the meaning set forth in Section 5.1 (Scheduling). 
 “Second Launch Interval” shall have the meaning set forth in Section 5.1 (Scheduling). 
 “Second Launch Period” shall have the meaning set forth in Section 5.1 (Scheduling). 
 “Second Launch Slot” shall have the meaning set forth in Section 5.1 (Scheduling). 
 “Satellite Mass Simulator” means mass ballast provided by Customer (at Customer’s sole expense) for integration into a given Satellite Batch for Launch by SpaceX, in lieu of
an actual Satellite. The mass properties of the simulator shall conform to ICD mass properties and mechanical interface definition for an actual Satellite. 
 “SOW” shall have the meaning set forth in Section 2 (Services) of this Agreement. 
 “SpaceX” shall have the meaning set forth in the introductory paragraph. 

“SpaceX Account” shall mean the following SpaceX bank and account: [***...***]. 

“Taxes” means all taxes, customs, duties, or similar tariffs and fees that may levied or collected upon the services or payments
contemplated by this Agreement. 
 “Terminated Ignition” means Intentional Ignition not followed by Lift-Off or Launch
Failure. For the avoidance of doubt, a Terminated Ignition shall not constitute a Launch. 

  
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COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 “Total Failure” means that, due to causes primarily attributable to a Launch Vehicle
and Launch Vehicle-related events that occur at any time from Intentional Ignition until separation of a Satellite Batch from a Launch Vehicle, the Satellite Batch is destroyed, permanently lost or unable to be physically separated from the Launch
Vehicle. For purposes of a Launch and In-Orbit Insurance policy, if any (and not for any other purpose hereunder), this definition shall be modified to reflect the meaning ascribed to the concept of “total failure” or “total
loss”, as applicable, in Customer’s policy of Launch and In-Orbit Insurance, if any, in place at the time of the applicable Launch. 

  
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COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 

 EXHIBIT B 

STATEMENT OF WORK 
 [ATTACHED] 
 [***...***] 

  
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 EXHIBIT C 

Form of Cross-Waiver Required by the U.S. Licensing Authority 
 Please see current form United States FAA Cross-Waiver at the following hyperlink: 

http://edocket.access.gpo.gov/cfr_2011/janqtr/pdf/14cfr440AppB.pdf 
 In the event this link is ever deactivated, the Form of Cross Waiver shall be the most recent Form of Cross Waiver published in the United States Code of Federal Regulations. 

  
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 EXHIBIT D – INTERFACE CONTROL DOCUMENT 

[TBD - TO BE PROVIDED BY SPACEX AND MUTUALLY AGREED] 

  
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 EXHIBIT E – LAUNCH MANIFEST PRIORITY [***...***] 

  
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