Document:

Blueprint

 

Exhibit
10.1

 

CONSULTING AGREEMENT

 

THIS CONSULTING AGREEMENT (the
“Agreement”)
is made and entered into effective as of May 1, 2019 (the
“Effective
Date”) between Super
League Gaming, Inc., a Delaware corporation with a principal place
of business located at 2906 Colorado Ave., Santa Monica, CA 90404
(the “Company”),
and Mark Jung (the “Consultant”)(Company
and Consultant
are collectively referred to herein as
the “Parties”)
who agree as follows.

 

A.           The
Company desires to retain the services of the Consultant as a
consultant to the Company from the Effective
Date.

 

B.           The
Consultant is willing to be retained by the Company on the terms
and subject to the conditions set forth in this
Agreement.

 

1. Services.
The Consultant shall perform the services set forth in the
Statement of Work attached hereto as Exhibit A
(the “Services”).
The Consultant shall render the Services.

 

2. Terms
of Engagement.

 

2.1 Definitions.
For purposes of this Agreement, the following terms shall have the
following meanings:

 

(a) “Accrued
Expenses” shall mean any
appropriate business expenses incurred by the Consultant in
connection with the Services provided hereunder, which have been
approved by the Company in writing, all to the extent unpaid or
unreimbursed on the date of termination.

 

(b) “Confidential
Information” shall mean
all information related to any aspect of the Company’s
business which is either information not known by actual or
potential competitors of the Company or is proprietary information
of the Company, whether of a technical nature or otherwise.
Confidential Information is to be broadly defined and includes, but
is not limited to, trade secrets, copyrights, ideas, techniques,
know-how, inventions (whether patentable or not), and/or any other
information of any type relating to firmware, computer programs,
computer code, software source documents, software design and
architecture, computer hardware, circuits, silicon chip technology,
testing procedures, product requirements and specifications,
devices, designs, configurations, documentation, recorded data,
schematics, master works, master databases, algorithms, flow
charts, formulae, works of authorship, mechanisms, research,
manufacture, improvements, assembly, installation, intellectual
property, including patents and patent applications, business
plans, past or future financing, marketing, forecasts, pricing,
customers, the salaries, duties, qualifications, performance
levels, and terms of compensation of other employees, and/or cost
or other financial data concerning any of the foregoing or the
Company and its operations generally.

 

(c) “Inventions”
shall mean any and all products, inventions, innovations, ideas,
discoveries, designs, schematics, mask works, data, formulas,
software, databases, algorithms, programs, trade secrets, works of
authorship, assays, developmental or experimental work, methods,
processes, techniques, improvements, and related know-how and which
are made by Consultant, alone or in combination with others, either
on behalf of the Company under this Agreement, or with the use of
or as a result of access to Confidential Information or property,
including but not limited to any derivative work which constitutes
an improvement or modification to any tangible form of Confidential
Information, such as any design, drawing, or product that embodies
Confidential Information, and whether or not patentable,
copyrightable, or qualified for other intellectual property
protection.

 

 

 

 

 

 

2.2 Independent
Contractor. The Consultant is
an independent contractor and not an employee of the Company. The
Consultant has no authority to obligate or bind the Company by
contract or otherwise. The Consultant will not be eligible for any
employee benefits, and the Company will not make deductions from
the Consultant’s fees for taxes (except as otherwise required
by applicable law or regulation). Any taxes imposed on the
Consultant due to activities performed hereunder will be the sole
responsibility of the Consultant.

 

2.3 Term.
This Agreement shall continue through December 31, 2019 and will be
extended upon mutual agreement of the Parties.

 

2.4 Termination
of Consultant. Upon termination
of the Consultant, the Consultant shall promptly return to the
Company, without limitation, all Company information supplied to
the Consultant pursuant to this Agreement and the Company shall pay
the Consultant Accrued Expenses, if any.

 

3. Compensation
and Expenses.

 

3.1 Compensation.
In consideration of the Services to be provided, the Consultant
shall be compensated as set forth in Exhibit A hereto.

 

3.2 Expense
Reimbursement. The Company
shall reimburse the Consultant for all reasonable, ordinary and
necessary out-of-pocket travel and other expenses incurred by the
Consultant in conjunction with his services to the Company, which
expenses have been approved in advance in writing by the Company.
The Company will reimburse such expenses within thirty (30) days
after Consultant has provided to the Company, in form and substance
reasonably satisfactory to the Company, appropriate documentation
evidencing such expenses.

 

4. Confidentiality
Obligation.

 

4.1 The
Consultant shall hold all Company Confidential Information in
confidence and may not disclose, use, copy, publish, summarize, or
remove from the premises of the Company any Confidential
Information, except as necessary to carry out the
Consultant’s assigned responsibilities as a Company
Consultant. In the event the Consultant is required to disclose any
Confidential Information pursuant to law or government regulation,
the Consultant must promptly notify the Company in order to allow
the Company the maximum time to obtain protective or confidential
treatment of the Confidential Information before it is
disclosed.

 

4.2 Confidential
Information subject to Section 5.1 does not include information
that: (i) is or later becomes available to the public through no
breach of this Agreement by the Consultant; (ii) is obtained by the
Consultant from a third party who had the legal right to disclose
the information to the Consultant; (iii) is already in the
possession of the Consultant on the date this Agreement becomes
effective; or (iv) was developed by the Consultant independent of
the performance of the Services.

 

5. Information
of Others. The Consultant shall
safeguard and keep confidential the proprietary information of
customers, vendors, consultants, and other parties with which the
Company does business to the same extent as if it were Company
Confidential Information. The Consultant may not use or disclose to
the Company any confidential, trade secret, or other proprietary
information or material of any previous employer or other person,
and will not bring onto the Company’s premises any
unpublished document or any other property belonging to any former
or current employer without the written consent of that former or
current employer.

 

 

 

 

 

6. Company
Property. All papers, records,
data, notes, drawings, files, documents, samples, devices,
products, equipment, and other materials, including copies and in
whatever form, relating to the business of the Company that the
Consultant possesses or creates as a result of the
Consultant’s service to the Company, whether or not
confidential, are the sole and exclusive property of the Company.
In the event of the termination of the Consultant’s service
to the Company, the Consultant will promptly deliver all such
materials to the Company and will sign and deliver to the Company
the “Termination Certificate” attached hereto as
Exhibit
B.

 

7. Ownership
of Inventions. Any and all
Inventions shall be the property of the Company, and any Inventions
which are made by Consultant in performance of the Services under
this Agreement, to the maximum extent permitted by law, shall be
“works made for hire.” The Consultant hereby assigns
and agrees to assign to the Company or its designee, without
further consideration, the Consultant’s entire right, title,
and interest in and to all Inventions, including all rights to
obtain, register, perfect, and enforce patents, copyrights, mask
work rights, and other intellectual property protection for
Inventions. The Consultant shall disclose promptly and in writing
to an individual designated by the Company or to the
Consultant’s immediate supervisor all Inventions which the
Consultant has made or reduced to practice. During the term of the
Consultant’s services to the Company hereunder and for five
years after, the Consultant shall assist the Company (at its
expense) to obtain and enforce patents, copyrights, and other forms
of intellectual property protection on
Inventions.

 

8. Indemnification.
 The Company shall defend,
indemnify and hold harmless the Consultant from and against all
claims, losses, liabilities, damages, expenses and costs (including
reasonable attorney’s fees and costs of litigation regardless
of outcome) which result from any breach or alleged breach by the
Company of any provision contained in this Agreement.

 

9. Miscellaneous.

 

9.1 Waiver.
The waiver of the breach of any provision of this Agreement shall
not operate or be construed as a waiver of any subsequent breach of
the same or other provision hereof.

 

9.2 Notices.
All notices and other communications under this Agreement shall be
in writing and shall be given by personal or courier delivery,
facsimile or first class mail, certified or registered with return
receipt requested, and shall be deemed to have been duly given upon
receipt if personally delivered or delivered by courier, on the
date of transmission if transmitted by facsimile, or three days
after mailing if mailed, to the addresses of the Company and the
Consultant contained in the records of the Company at the time of
such notice. Any party may Change such party’s address for
notices by notice duly given pursuant to this Section
9.2.

 

9.3 Headings.
The section headings used in this Agreement are intended for
convenience of reference and shall not by themselves determine the
construction or interpretation of any provision of this
Agreement.

 

9.4 Governing
Law. This Agreement shall be
governed by and construed in accordance with the laws of the State
of California.

 

9.5 Counterparts.
This Agreement may be executed in one or more counterparts, all of
which taken together shall constitute one and the same
Agreement.

 

9.6 Enforcement.
If any portion of this Agreement is determined to be invalid or
unenforceable, such portion shall be adjusted, rather than voided,
to achieve the intent of the parties to the extent possible, and
the remainder shall be enforced to the maximum extent
possible.

 

9.7 Survival. Sections 4
through 9 shall survive termination or expiration of this
Agreement.

 

9.8 Modifications. All
modifications to this Agreement must be in writing and signed by
each of the parties hereto.

 

 

 

 

IN
WITNESS WHEREOF, the Parties have executed this Consulting
Agreement as of the date first written above.

 

	
 

	

SUPER LEAGUE GAMING, INC.

	
 

	
 

	
 

	

By: /s/ Ann
Hand

Ann
Hand

President
& CEO

	
	

  

 

	
 

	

MARK
JUNG

 

 

By:/s/ Mark
Jung

 

 

 

 

 

 

 

 

EXHIBIT A

 

STATEMENT OF WORK

 

 

 

1.

SCOPE
OF WORK

 

Strategic advice
and planning directly with Ann Hand, CEO. Consultant will provide
1.5 days of consulting services per month.

 

2.

COMPENSATION

 

$7,500
per month, payable net 30 from invoice date.

 

3.

TERM

 

The
initial term shall run from April 1, 2019 through December 31,
2019. The consulting agreement shall be extended upon mutual
agreement of the parties.

 

 

 

 

EXHIBIT B

 

TERMINATION CERTIFICATE

 

 

This is to certify that Consultant does not have
in its possession, nor has Consultant failed to return, any papers,
records, data, notes, drawings, files, documents, samples, devices,
products, equipment, designs, computer programs, and other
materials, including reproductions of any of the aforementioned
items, belonging to Super League Gaming,
Inc., its subsidiaries,
affiliates, successors, or assigns (together, the
“Company”).

 

The
Consultant further certifies that it has complied with all the
terms of the Company’s Consulting Agreement signed by it,
including the reporting of any Inventions (as defined therein)
conceived or made by Consultant (solely or jointly with others)
covered by that agreement.

 

Consultant
further agrees that, in compliance with the Consulting Agreement,
it will hold in confidence and will not disclose, use, copy,
publish, or summarize any Confidential Information (as defined in
the Consulting Agreement) of the Company or of any of its
customers, vendors, consultants, and other parties with which it
does business.

 

 

Date:_______________________________ 

	
 

	
_____________________________________ 

	
 

	
Signature

	
 

	
 

 

_____________________________________ 

	
 

	
Print
NameExhibit 4.1

    

    

    THE DOW CHEMICAL COMPANY

     

    SECOND SUPPLEMENTAL INDENTURE

     

    $500,000,000 3.150% Notes due 2024

    $750,000,000 3.625% Notes due 2026

    $750,000,000 4.800% Notes due 2049

     

    THIS SECOND SUPPLEMENTAL INDENTURE, dated as of May 20, 2019 (this “Supplemental Indenture”), among THE DOW
        CHEMICAL COMPANY, a Delaware corporation (the “Company”), DOW INC., a Delaware corporation (“Dow”) and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, as trustee (the “Trustee”).

     

    RECITALS OF THE COMPANY:

     

    WHEREAS, the Company and the Trustee have heretofore executed and delivered an indenture, dated as of May 1,
        2008 (the “Indenture”), to provide for the issuance by the Company from time to time of Securities to be issued in one or more Series as provided in the Indenture, which Indenture was supplemented by a first supplemental indenture, dated as of
        November 30, 2018, between the Company, Dow and the Trustee;

     

    WHEREAS, Section 8.1(c) of the Indenture permits the Company and the Trustee to enter into indentures
        supplemental to the Indenture for the purposes of adding covenants for the protection of Holders of the Securities issued from time to time under the Indenture and to make the occurrence, or the occurrence and continuance, of a default in any such
        additional covenants, restrictions, conditions or provisions an Event of Default permitting the enforcement of all or any of the several remedies provided in the Indenture;

     

    WHEREAS, Section 8.1(e) of the Indenture provides that the Company and the Trustee may enter into an indenture
        supplemental to the Indenture to establish the form or terms of Securities of any Series as permitted by Sections 2.1 and 2.3 of the Indenture; and

     

    WHEREAS, all the conditions and requirements necessary to make this Supplemental Indenture, when duly executed
        and delivered, a valid and binding agreement in accordance with its terms and for the purposes herein expressed, have been performed and fulfilled.

     

    NOW THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH:

     

    The Company, Dow and the Trustee mutually covenant and agree for the equal and proportionate benefit of the
        respective Holders of the Notes as follows:

     

    ARTICLE ONE

        RELATION TO INDENTURE; DEFINITIONS; RULES OF CONSTRUCTION

     

    SECTION 1.1  Relation to
        Indenture.  This Supplemental Indenture constitutes an integral part of the Indenture.

     

    SECTION 1.2  Definitions.  For
        all purposes of this Supplemental Indenture, the following terms shall have the respective meanings set forth in this Section.

     

    “2024 Notes” means the Company’s 3.150% Notes due 2024.

     

    “2026 Notes” means the Company’s 3.625% Notes due 2026.

     

    “2049 Notes” means the Company’s 4.800% Notes due 2049.

     

      

     

      

    
      
        

    

     

    “Additional Interest” shall have the meaning set forth in the Registration Rights
        Agreement.

     

    “Applicable Procedures” means, with respect to any transfer or transaction involving a Regulation S
        Global Note or beneficial interest therein, the rules and procedures of the Depositary for such Global Note, Euroclear and Clearstream, in each case to the extent applicable to such transaction and as in effect from time to time.

     

    “Depositary” means The Depository Trust Company, its nominees and their
        respective successors.

     

    “Exchange Notes” means the Securities of the Company issued in exchange for
        Initial Notes pursuant to the Indenture and the Registration Rights Agreement in connection with the Registered Exchange Offer.

     

    “Global Notes Legend” means the legend set forth under that caption in
        Exhibit A to this Supplemental Indenture.

     

    “Initial Purchasers” means Citigroup Global Markets Inc., HSBC Securities (USA) Inc., MUFG
        Securities Americas Inc. and the other initial purchasers listed on Schedule I to the Purchase Agreement.

     

    “Initial Notes” means the Rule 144A Notes and the Regulation S Notes.

     

    “Notes” means, collectively the 2024 Notes, the 2026 Notes and the 2049 Notes.

     

    “Participant” means members of, or participants in, the Depositary.

     

    “Purchase Agreement” means the Purchase Agreement dated May 16, 2019, among the Company and
        the Initial Purchasers.

     

    “QIB” means a “qualified institutional buyer” as defined in Rule 144A.

     

    “Registered Exchange Offer” means the offer by the Company, pursuant to the Registration
        Rights Agreement, to certain Holders of Initial Notes, to issue and deliver to such Holders, in exchange for their Initial Notes, a like aggregate principal amount of Exchange Notes registered under the Securities Act.

     

    “Registration Rights Agreement” means the Registration Rights Agreement dated as of May 20,
        2019, among the Company and the Initial Purchasers.

     

    “Regulation S” means Regulation S under the Securities Act.

     

    “Regulation S Notes” means all Initial Notes offered and sold outside the United States in
        reliance on Regulation S.

     

    “Restricted Period” with respect to any Regulation S Notes means the period of 40
        consecutive days beginning on and including the later of (i) the day on which such Regulation S Notes are first offered to persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S and (ii)
        May 20, 2019.

     

    “Restricted Notes Legend” means the legend set forth in Section 2.4(c)(i) herein.

     

    “Revolving Credit Facility Agreement” means that certain $5,000,000,000 Five Year Competitive Advance
        and Revolving Credit Facility Agreement, dated as of October 30, 2018, among the Company, the banks from time to time party thereto and Citibank, N.A., as administrative agent as amended, modified, restated, renewed, refunded, replaced or
        refinanced from time to time, including any agreement extending the maturity of, refinancing, replacing or otherwise restructuring all of or substantially all of the indebtedness under such agreement or any such successor or replacement agreement
        and whether by the same or any other agent, lender or group of lenders (or other institutions).

     

     

    

    
      2

      
        

    

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

     

    “Rule 144A Notes” means all Initial Notes offered and sold to QIBs in reliance on Rule
        144A.

     

    “Securities Act” means the Securities Act of 1933, as amended,

     

    “Shelf Registration Statement” means a registration statement filed by the Company in
        connection with the offer and sale of the Initial Notes pursuant to Section 2(b) of the Registration Rights Agreement.

     

    “Transfer Restricted Notes” means Notes that bear or are required to bear the Restricted
        Notes Legend.

     

    SECTION 1.3  Rules of
        Construction.  For all purposes of this Supplemental Indenture:

     

    (a) capitalized terms used herein without definition shall have the meanings specified in the Indenture;

     

    (b) all references herein to Articles and Sections, unless otherwise specified, refer to the corresponding
        Articles and Sections of this Supplemental Indenture;

     

    (c) the terms “herein,” “hereof,” “hereunder” and other words of similar import refer to this Supplemental
        Indenture; and

     

    (d) in the event of a conflict with the definition of terms in the Indenture, the definitions in this Supplemental
        Indenture shall control.

     

    ARTICLE TWO

        THE SECURITIES

     

    SECTION 2.1  Title of the
        Notes.  There shall be Series of Securities designated (a) the 3.150% Notes due 2024, (b) the 3.625% Notes due 2026 and (c) the 4.800% Notes due 2049.

     

    SECTION 2.2  Limitation on
        Aggregate Principal Amount.  The 2024 Notes will be initially issued in an aggregate principal amount of $500,000,000, the 2026 Notes will be initially issued in an aggregate principal amount of $750,000,000 and the 2049 Notes will be initially
        issued in an aggregate principal amount of $750,000,000 (except, in each case, for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities pursuant to Sections 2.8, 2.9, 2.11, 8.5
        or 12.3 of the Indenture or pursuant to and in accordance with the terms of the Registration Rights Agreement); provided, that the Company may, without the consent of Holders of the Notes of a Series, issue additional Notes of the same Series
        having the same ranking and the same interest rate, maturity and other terms as such Notes, which additional Notes will be consolidated with and form a single Series with such Notes under the Indenture.

     

    SECTION 2.3  Form and Dating.

     

    (a) General.  The 2024 Notes and the Trustee’s certificate of authentication shall be substantially in the form of
        Exhibit A hereto, the 2026 Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit B hereto and the 2049 Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit C
        hereto.  The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage.  Each Note shall be dated the date of its authentication.  The Notes shall be in minimum denominations of $2,000 and integral multiples of
        $1,000 in excess thereof.

     

     

    

    
      3

      
        

    

     

    

    The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of
        this Supplemental Indenture, and the Company, Dow and the Trustee, by their execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby.  However, to the extent any provision of any
        Note conflicts with the express provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall govern and be controlling.

     

    The Initial Notes issued on the date hereof will be (i) offered and sold by the Company pursuant to the
        Purchase Agreement and (ii) resold initially only to (A) QIBs in reliance on Rule 144A and (B) Persons other than U.S. Persons (as defined in Regulation S) in reliance on Regulation S.  Such Initial Notes may thereafter be transferred to, among
        others, QIBs and purchasers in reliance on Regulation S.

     

    The Company hereby designates The Depository Trust Company as the initial Depositary for the Global Notes.

     

    (b) Global Notes.  The Rule 144A Notes shall be issued initially in the form of one or more permanent Global Notes
        in fully registered form (collectively, the “Rule144A Global Note”) and the Regulation S Notes shall be issued initially in the form of one or more Global Notes (collectively, the “Regulation S Global Note”), in each case without interest coupons
        and bearing the Global Notes Legend and Restricted Notes Legend, which shall be deposited on behalf of the purchasers of the Notes represented thereby with the Trustee, and registered in the name of the Depositary or a nominee of the Depositary,
        duly executed by the Company and authenticated by the Trustee as provided in the Indenture. Beneficial ownership interests in the Regulation S Global Note shall not be exchangeable for interests in the Rule 144A Global Note or any other Security
        without a Restricted Notes Legend until the expiration of the Restricted Period.  The Rule 144A Global Notes and the Regulation S Global Notes are each referred
          to herein as a “Global Note” and are collectively referred to herein as “Global Notes.” The aggregate principal amount of the Global Notes may from time to time be increased or decreased by adjustments made on the records of the Trustee and the
          Depositary or its nominee as hereinafter provided.

     

    (c) Book-Entry Provisions.  This Section
            2.3(c) shall apply only to a Global Note deposited with or on behalf of the Depositary.  The Company shall execute and the Trustee shall, in accordance with this Section
            2.3(c) and pursuant to an order of the Company, authenticate and deliver initially one or more Global Notes that (a) shall be registered in the name of the Depositary for such Global Note or Global Notes or the nominee of such
        Depositary and (b) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s instructions or held by the Trustee as Securities Custodian.

     

    Participants shall have no rights under the Indenture with respect to any Global Note held on their behalf by
        the Depositary or by the Trustee or under such Global Note, and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such Global Note for all purposes whatsoever. 
        Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as
        between the Depositary and its Participants, the operation of customary practices of such Depositary governing the exercise of the rights of a holder of a beneficial interest in any Global Note.

     

    SECTION 2.4  Transfer and
        Exchange.

     

    (a) Transfer and Exchange of Global Notes.

     

    (i) The transfer and exchange of Global Notes or beneficial interests therein shall be effected through the Depositary, in accordance with
        this Supplemental Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depositary therefor.  A transferor of a beneficial interest in a Global Note shall deliver a written order given in
        accordance with the Depositary’s procedures containing information regarding the participant account of the Depositary to be credited with a beneficial interest in such Global Note or another Global Note and such account shall be credited in accordance with such order with a beneficial interest in the applicable Global Note and the account of the Person making the transfer shall be debited by an amount
        equal to the beneficial interest in the Global Note being transferred.  Transfers by an owner of a beneficial interest in a Rule 144A Global Note to a transferee who takes delivery of such interest through a Regulation S Global Note, whether before
        or after the expiration of the Restricted Period, shall be made only upon receipt by the Trustee of a certification from the transferor to the effect that such transfer is being made in accordance with Regulation S or (if available) Rule 144 under
        the Securities Act and that, if such transfer is being made prior to the expiration of the Restricted Period, the interest transferred shall be held immediately thereafter through Euroclear or Clearstream.

     

      

     

      

    
      4

      
        

    

     

     

    (ii) If the proposed transfer is a transfer of a beneficial interest in one Global Note to a
        beneficial interest in another Global Note, the Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Note to which such interest is being transferred in an amount equal to the principal
        amount of the interest to be so transferred, and the Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of Global Note from which such interest is being transferred.

     

    (iii) Notwithstanding any other provisions of this Supplemental Indenture, a Global Note may not be
        transferred as a whole except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee
        of such successor Depositary.

     

    (b) Restrictions on Transfer of Regulation S Global Note.

     

    (i) Prior to the expiration of the Restricted Period, interests in a Regulation S Global Note may
        only be held through Euroclear or Clearstream.  During the Restricted Period, beneficial ownership interests in a Regulation S Global Note may only be sold, pledged or transferred through Euroclear or Clearstream in accordance with the Applicable
        Procedures and only (A) to the Company or any subsidiary thereof, (B) so long as such security is eligible for resale pursuant to Rule 144A, to a person whom the
          selling holder reasonably believes is a QIB that purchases for its own account or for the account of a QIB to whom notice is given that the resale, pledge or transfer is being made in reliance on Rule 144A, (C) outside the United States in an
          offshore transaction in accordance with Regulation S, (D) pursuant to an exemption from registration under the Securities Act provided by Rule 144 (if applicable) under the Securities Act, or (E) pursuant to an effective registration statement
          under the Securities Act or (F) pursuant to any other available exemption from the registration requirements of the Securities Act, in each case in accordance with any applicable securities laws of any state of the United States.  Prior to the
          expiration of the Restricted Period, transfers by an owner of a beneficial interest in a Regulation S Global Note to a transferee who takes delivery of such interest through a Rule 144A Global Note shall be made only in accordance with the
          Applicable Procedures and upon receipt by the Trustee of a written certification from the transferor of the beneficial interest in the form provided on the reverse of the Initial Note to the effect that such transfer is being made to (i) a person
          whom the transferor reasonably believes is a QIB within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A. Such written certification shall no longer be required after the expiration of
            the Restricted Period.

     
     

     
    (ii) Upon the expiration of the Restricted Period, beneficial ownership interests in a Regulation S Global Note shall be transferable in
        accordance with applicable law and the other terms of the Indenture.

     
     

     
    (c) Legends for Notes

     
     

     
    (i) Except as permitted by the following paragraphs
              (ii), (iii), (iv) or (vi), each Note certificate evidencing the Global Notes (and all Securities issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each defined term in
          the legend being defined as such for purposes of the legend only):

     

    
      5

      
        

    

    THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
        AMENDED (THE “SECURITIES ACT”), AND ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH IN THE FOLLOWING SENTENCE.  BY ITS ACQUISITION HEREOF, THE HOLDER (1)
        REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES
        ACT, (2) AGREES THAT IT WILL NOT, PRIOR TO THE DATE THAT IS [ONE YEAR (IN THE CASE OF THE 144A NOTES) OR 40 DAYS (IN THE CASE OF REGULATION S NOTES)]  AFTER THE LATER OF THE ISSUANCE OF THE NOTES AND THE LAST DATE ON WHICH THE DOW CHEMICAL COMPANY
        OR ANY OF ITS AFFILIATES WAS THE OWNER OF THE NOTES OR ANY PREDECESSOR OF THE NOTES, OFFER, RESELL, PLEDGE OR OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO THE DOW CHEMICAL COMPANY OR ANY SUBSIDIARY THEREOF, (B) FOR SO LONG AS THE NOTES ARE ELIGIBLE
        FOR RESALE PURSUANT TO RULE 144A, TO PERSONS REASONABLY BELIEVED TO BE A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S
        UNDER THE SECURITIES ACT, (D) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (E) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, OR (F) PURSUANT TO ANY OTHER
        AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.  PRIOR TO THE REGISTRATION OF ANY
        TRANSFER IN ACCORDANCE WITH 2(C) AND 2(F) ABOVE, THE DOW CHEMICAL COMPANY RESERVES THE RIGHT TO REQUIRE THE DELIVERY OF SUCH LEGAL OPINIONS, CERTIFICATIONS OR OTHER EVIDENCE AS MAY REASONABLY BE REQUIRED IN ORDER TO DETERMINE THAT THE PROPOSED
        TRANSFER IS BEING MADE IN COMPLIANCE WITH THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.  AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM BY REGULATION S UNDER SECURITIES
        ACT.  THE INDENTURE CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS NOTE IN VIOLATION OF THE FOREGOING RESTRICTION.

     

    Each Note evidencing a Global Note that is a Regulation S Note shall
        bear a legend substantially in the following form:

     

    BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT
        A U.S. PERSON, NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON, AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.

     

    (ii) After a transfer of any Initial Notes during the period of the effectiveness of a Shelf
        Registration Statement with respect to such Initial Notes, as the case may be, all requirements pertaining to the Restricted Notes Legend on such Initial Notes shall cease to apply and the requirements that any such Initial Notes be issued in
        global form shall continue to apply.

     

     

    

    
      6

      
        

    

    (iii) Upon the consummation of a Registered Exchange Offer with respect to the Initial Notes pursuant to which Holders of such Initial Notes
        are offered Exchange Notes in exchange for their Initial Notes, all requirements pertaining to Initial Notes that Initial Notes be issued in global form shall continue to apply, and Exchange Notes in global form without the Restricted Notes Legend
        shall be available to Holders that exchange such Initial Notes in such Registered Exchange Offer.

     
     

     
    (iv) Upon a sale or transfer after the expiration of the Restricted Period of any Initial Note acquired pursuant to Regulation S, all
        requirements that such Initial Note bear the Restricted Notes Legend shall cease to apply and the requirements requiring any such Initial Note be issued in global form shall continue to apply.

     
     

     
    (d) Cancellation or Adjustment of Global Note.  At such time as all beneficial interests in a Global Note have been transferred, redeemed, repurchased
        or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation or retained and canceled by the Trustee.  At any time prior to such cancellation, if any beneficial interest in a Global Note is transferred in
        exchange for an interest in another Global Note, redeemed, repurchased or canceled, the principal amount of Notes represented by such Global Note shall be reduced and an adjustment shall be made on the books and records of the Trustee with respect
        to such Global Note, by the Trustee, to reflect such reduction.

     
     

     
    (e) Obligations with Respect to Transfers and Exchanges of Notes.

     
     

     
    (i) To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate, Global Notes at the
        Registrar’s request.

     
     

     
    (ii) No service charge shall be made for any registration of transfer or exchange, but the Company may require payment of a sum sufficient
        to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes, assessments or similar governmental charge payable upon exchange or transfer pursuant to Sections 8.5 or
        12.3 of the Indenture).

     
     

     
    (iii) Prior to the due presentation for registration of transfer of any Note, the Company, the Trustee, the Paying Agent or the Registrar
        may deem and treat the person in whose name a Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Note and for all other purposes whatsoever, whether or not such Note is overdue, and none of the Company, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary.

     
     

     
    (iv) The Company shall not be required to make and the Registrar need not register transfers or exchanges of Notes selected for redemption
        (except, in the case of Notes to be redeemed in part, the portion thereof not to be redeemed) or any Notes for a period of 15 days before the mailing of a notice of redemption of Notes to be redeemed.

     
     

     
    (v) All Notes issued upon any transfer or exchange pursuant to the terms of this Supplemental Indenture shall evidence the same debt and
        shall be entitled to the same benefits under the Indenture as the Notes surrendered upon such transfer or exchange.

     
     

    
      7

      
        

    

    (f) No Obligation of the Trustee.

     
     

     
    (i) The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Note, a member of, or a participant in the
        Depositary or any other Person with respect to the accuracy of the records of the Depositary or its nominee or of any participant or member thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any
        participant, member, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under or with respect to such Notes.  All notices and communications to
        be given to the Holders and all payments to be made to Holders under the Notes shall be given or made only to the registered Holders (which shall be the Depositary or its nominee in the case of a Global Note).  The rights of beneficial owners in
        any Global Note shall be exercised only through the Depositary subject to the applicable rules and procedures of the Depositary.  The Trustee may rely and shall be fully protected in relying upon information furnished by the Depositary with respect
        to its members, participants and any beneficial owners.

     
     

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

     

    ARTICLE THREE

        AMENDMENTS TO THE INDENTURE

     

    SECTION 3.1  Additional Covenant
        and Event of Default

     

    (a) For the benefit of the Holders of Securities of each Series outstanding under the Indenture from time to time, Dow covenants and agrees that if Dow
        issues a guarantee in respect of outstanding or committed indebtedness under the Revolving Credit Facility Agreement, Dow will enter into a supplemental indenture with the Company and the Trustee substantially in the form attached as Exhibit D hereto, substantially concurrently with the issuance of such guarantee, providing for the issuance of a guarantee on all Securities outstanding under the
        Indenture from time to time (such guarantee as applied to the Notes, the “Guarantees”).

     

    (b) For the benefit of Holders of the Notes only, Dow covenants and agrees that if the Guarantees are issued prior to the consummation of the Registered
        Exchange Offer, Dow will enter into a joinder agreement to the Registration Rights Agreement providing for the registration of the Guarantees in accordance with the terms thereof as though the Guarantees were “Securities” as defined therein.

     

    (c) For the benefit of the Holders of Securities of each Series outstanding under the Indenture from time to time, the following shall be an additional
        “Event of Default” as contemplated by Section 5.1(g) of the Indenture:

     

    default in the performance, or breach, of the covenant set forth in Section 3.1(a).

     

    (d) For the benefit of the Holders of the Notes, the following shall be an additional “Event of Default” with respect to each Series of the Notes as
        contemplated by Section 5.1(g) of the Indenture:

     

    default in the performance, or breach of the covenant set forth in Section 3.1(b).

     

    SECTION 3.2  Solely with respect
        to the 2024 Notes, the 2026 Notes and the 2049 Notes, paragraph (b) of Section 3.6 of the Indenture is amended and restated as follows:

     

    
      8

      
        

    

    “(b) Notwithstanding the provisions of paragraph (a) of this Section 3.6, the Company or any Restricted
        Subsidiary may create or assume liens; provided that at the time of such creation or assumption, and after giving effect thereto, Exempted Indebtedness does not
        exceed 15 percent of Consolidated Net Tangible Assets at such time.”

     

    SECTION 3.3  Solely with respect
        to the 2024 Notes, the 2026 Notes and the 2049 Notes, paragraph (b) of Section 3.7 of the Indenture is amended and restated as follows:

     

    “(b) Notwithstanding the provisions of paragraph (a) of this Section 3.7, the Company or any Restricted
        Subsidiary may enter into Sale and Lease-Back Transactions, provided that at the time of such entering into, and after giving effect thereto, Exempted Indebtedness
        does not exceed 15 percent of Consolidated Net Tangible Assets at such time.”

     

    ARTICLE FOUR

        MISCELLANEOUS PROVISIONS

     

    SECTION 4.1  Ratification.  The
        Indenture, as supplemented by this Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed.

     

    SECTION 4.2  Counterparts.  This
        Supplemental Indenture may be executed in any number of counterparts, each of which when so executed shall be deemed an original, and all such counterparts shall together constitute but one and the same instrument.

     

    SECTION 4.3  Governing Law. 
        THIS SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE CHOICE OF LAW PRINCIPLES THEREOF.

     

    SECTION 4.4  Trustee.  The
        Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture. The recitals herein are deemed to be those of the Company and Dow and not of the Trustee.

     

    

    

     

    [signature page follows]

     

    

    

    
      9

      
        

    

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

     

    
      	 	
              THE DOW CHEMICAL COMPANY

            
	 	 
	 	 
	 	
              By:

            	
              
                /s/ Gary McGuire

              

            
	 	
              Name:

            	
              Gary McGuire

            
	 	
              Title:

            	
              Vice President and Treasurer

            

      

      

      

      

      	 	
              DOW INC.

            
	 	 
	 	 
	 	
              By:

            	
              
                /s/ Gary McGuire

              

            
	 	
              Name:

            	
              Gary McGuire

            
	 	
              Title:

            	
              Vice President and Treasurer

            

      

      

      

      

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

            
	 	
              as Trustee

            
	 	 
	 	 
	 	
              By:

            	
              
                /s/ R. Tarnas

              

            
	 	
              Name:

            	
              R. Tarnas

            
	 	
              Title:

            	
              Vice President

            

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

  

  Signature page to Second Supplemental Indenture

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