Document:

EX-4.10

 Exhibit 4.10 

PIERIS PHARMACEUTICALS, INC. 

Issuer 
 AND 

[    ]    Trustee 

INDENTURE 
 Dated as of
[    ] 
 Subordinated Debt Securities 

 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(a)
	311(b).	  	7.13(b)
	311(c).	  	Inapplicable
	312(a).	  	5.02(a)
	312(b).	  	5.02(b)
	312(c).	  	5.02(c)
	313(a).	  	5.04(a)
	313(b).	  	5.04(a)
	313(c).	  	5.04(a)
		  	5.04(b)
	313(d).	  	5.04(b)
	314(a).	  	5.03
	314(b).	  	Inapplicable
	314(c).	  	13.06
	314(d).	  	Inapplicable
	314(e).	  	13.06
	314(f).	  	Inapplicable
	315(a).	  	7.01(a)
		  	7.02
	315(b).	  	6.07
	315(c).	  	7.01
	315(d).	  	7.01(b)
		  	7.01(c)
	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)	  	13.08

  

	(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. 

  
 i 

 TABLE OF CONTENTS (2) 

 

							
	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	 
			
	 SECTION 1.01  
	 	 Definitions of Terms.
	  	 	1	 
		
	 ARTICLE II 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.
	  	 	8	 
	 SECTION 2.07
	 	 Mutilated, Destroyed, Lost or Stolen Securities.
	  	 	9	 
	 SECTION 2.08
	 	 Cancellation.
	  	 	9	 
	 SECTION 2.09
	 	 Benefits of Indenture.
	  	 	9	 
	 SECTION 2.10
	 	 Authenticating Agent.
	  	 	10	 
	 SECTION 2.11
	 	 Global Securities
	  	 	10	 
		
	 ARTICLE III 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.
	  	 	12	 
	 SECTION 3.05
	 	 Satisfaction of Sinking Fund Payments with Securities.
	  	 	12	 
	 SECTION 3.06
	 	 Redemption of Securities for Sinking Fund.
	  	 	13	 
		
	 ARTICLE IV COVENANTS
	  	 	13	 
			
	 SECTION 4.01
	 	 Payment of Principal, Premium and Interest.
	  	 	13	 
	 SECTION 4.02
	 	 Maintenance of Office or Agency.
	  	 	13	 
	 SECTION 4.03
	 	 Paying Agents.
	  	 	13	 
	 SECTION 4.04
	 	 Appointment to Fill Vacancy in Office of Trustee.
	  	 	14	 
	 SECTION 4.05
	 	 Compliance with Consolidation Provisions.
	  	 	14	 
		
	 ARTICLE V SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE
TRUSTEE
	  	 	14	 
			
	 SECTION 5.01
	 	 Company to Furnish Trustee Names and Addresses of Securityholders.
	  	 	14	 
	 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.
	  	 	15	 
		
	 ARTICLE VI 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.
	  	 	20	 
	 SECTION 6.07
	 	 Undertaking to Pay Costs.
	  	 	20	 
		
	 ARTICLE VII CONCERNING THE TRUSTEE
	  	 	20	 
			
	 SECTION 7.01
	 	 Certain Duties and Responsibilities of Trustee.
	  	 	20	 
	 SECTION 7.02
	 	 Certain Rights of Trustee.
	  	 	21	 

  
 ii 

							
	 SECTION 7.03
	 	 Trustee Not Responsible for Recitals or Issuance of Securities.
	  	 	22	 
	 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 Officers’ Certificate.
	  	 	23	 
	 SECTION 7.08
	 	 Disqualification; Conflicting Interests.
	  	 	23	 
	 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	 
		
	 ARTICLE VIII CONCERNING THE SECURITYHOLDERS
	  	 	26	 
			
	 SECTION 8.01
	 	 Evidence of Action by Securityholders.
	  	 	26	 
	 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.
	  	 	27	 
	 SECTION 8.05
	 	 Actions Binding on Future Securityholders.
	  	 	27	 
	 SECTION 8.06
	 	 Purposes for Which Meetings May Be Called.
	  	 	28	 
	 SECTION 8.07
	 	 Call Notice and Place of Meetings.
	  	 	28	 
	 SECTION 8.08
	 	 Persons Entitled To Vote at Meetings.
	  	 	28	 
	 SECTION 8.09
	 	 Quorum; Action.
	  	 	28	 
	 SECTION 8.10
	 	 Determination of Voting Rights; Conduct and Adjournment of Meetings.
	  	 	29	 
	 SECTION 8.11
	 	 Counting Votes and Recording Action of Meetings.
	  	 	29	 
		
	 ARTICLE IX SUPPLEMENTAL INDENTURES
	  	 	30	 
			
	 SECTION 9.01
	 	 Supplemental Indentures Without the Consent of Securityholders.
	  	 	30	 
	 SECTION 9.02
	 	 Supplemental Indentures With Consent of Securityholders.
	  	 	31	 
	 SECTION 9.03
	 	 Effect of Supplemental Indentures.
	  	 	31	 
	 SECTION 9.04
	 	 Securities Affected by Supplemental Indentures.
	  	 	31	 
	 SECTION 9.05
	 	 Execution of Supplemental Indentures.
	  	 	31	 
		
	 ARTICLE X SUCCESSOR ENTITY
	  	 	32	 
			
	 SECTION 10.01
	 	 Company May Consolidate, Etc.
	  	 	32	 
	 SECTION 10.02
	 	 Successor Entity Substituted.
	  	 	32	 
	 SECTION 10.03
	 	 Evidence of Consolidation, Etc. to Trustee.
	  	 	32	 
		
	 ARTICLE XI SATISFACTION AND DISCHARGE
	  	 	33	 
			
	 SECTION 11.01
	 	 Satisfaction and Discharge of Indenture.
	  	 	33	 
	 SECTION 11.02
	 	 Discharge of Obligations.
	  	 	33	 
	 SECTION 11.03
	 	 Deposited Moneys to be Held in Trust.
	  	 	33	 
	 SECTION 11.04
	 	 Payment of Moneys Held by Paying Agents.
	  	 	33	 
	 SECTION 11.05
	 	 Repayment to Company.
	  	 	34	 
		
	 ARTICLE XII IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND
DIRECTORS
	  	 	34	 
			
	 SECTION 12.01
	 	 No Recourse.
	  	 	34	 
		
	 ARTICLE XIII MISCELLANEOUS PROVISIONS
	  	 	34	 
			
	 SECTION 13.01
	 	 Effect on Successors and Assigns.
	  	 	34	 
	 SECTION 13.02
	 	 Actions by Successor.
	  	 	34	 
	 SECTION 13.03
	 	 Surrender of Company Powers.
	  	 	35	 
	 SECTION 13.04
	 	 Notices.
	  	 	35	 
	 SECTION 13.05
	 	 Governing Law.
	  	 	35	 
	 SECTION 13.06
	 	 Treatment of Securities as Debt.
	  	 	35	 
	 SECTION 13.07
	 	 Compliance Certificates and Opinions.
	  	 	35	 

  
 iii 

							
	 SECTION 13.08
	 	 Payments on Business Days.
	  	 	36	 
	 SECTION 13.09
	 	 Conflict with Trust Indenture Act.
	  	 	36	 
	 SECTION 13.10
	 	 Counterparts.
	  	 	36	 
	 SECTION 13.11
	 	 Separability.
	  	 	36	 
	 SECTION 13.12
	 	 Assignment.
	  	 	36	 
		
	 ARTICLE XIV SUBORDINATION OF SECURITIES
	  	 	36	 
			
	 SECTION 14.01
	 	 Subordination Terms.
	  	 	36	 

  

	(2)	 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. 

  
 iv 

 INDENTURE, dated as of [    ], by and between Pieris Pharmaceuticals,
Inc., a Nevada 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 subordinated 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 I

 DEFINITIONS 
 SECTION
1.01    Definitions of Terms. 
 The terms defined in this Section (except as in this Indenture 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 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 with respect
to all or any series of the Securities 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 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 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 and State of New York, are authorized or obligated by law, executive order or regulation to close. 

“Certificate” means a certificate signed by the principal executive officer, the principal financial officer or the principal
accounting officer of the Company. The Certificate need not comply with the provisions of Section 13.07. 
 “Commission”
means the Securities and Exchange Commission. 

 “Company” means the corporation named as the “Company” in the first
paragraph of this instrument until a successor corporation shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor corporation. 

“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 [ ], except that whenever a provision herein refers to an office or agency of the Trustee in the Borough of Manhattan, the City and State of New York, such office is located, at
the date hereof, at [ ]. 
 “Custodian” means any receiver, trustee, assignee, liquidator, or similar official under any
Bankruptcy Law. 
 “Default” means an event which is, or after notice or lapse of time, or both, would constitute an Event of
Default. 
 “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, New York, New York, 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 Section 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 Securities Exchange Act of 1934, as amended. 

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

“Governmental Obligations” means securities that are (i) direct obligations of the United States of America for the payment of
which its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the payment of which is unconditionally guaranteed as a full
faith and credit obligation by the United States of America that, in either case, are non-callable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined
in Section 3(a)(2) of the Securities Act of 1933, as amended) 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. 

“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. 

“Officers’ Certificate” means a certificate signed by the President or a Vice President and by the Chief Financial Officer,
Vice President of Finance, the Treasurer or an Assistant Treasurer or the Controller or an Assistant Controller or the Secretary or an Assistant Secretary of the Company that is delivered to the Trustee in accordance with the terms hereof.
Certificate shall include the statements provided for in Section 13.07, if and to the extent required by the provisions thereof. 

  
 2 

 “Opinion of Counsel” means a written opinion of counsel, who may be counsel to the
Company (and may include directors or employees of the Company) and which opinion is acceptable to the Trustee which acceptance shall not be unreasonably withheld. 

“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 in Article III provided, 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, limited liability company, partnership, joint-venture, association, joint-stock company,
trust, estate, unincorporated organization or government or any agency or political subdivision 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 mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 

“Responsible Officer,” when used with respect to the Trustee, means any officer of the Trustee, including any vice president,
assistant vice president, secretary, assistant secretary, the treasurer, any assistant treasurer, the managing director or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated
officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Securities” means the debt Securities authenticated and delivered under this Indenture. 

“Security Register” has the meaning specified in Section 2.05. 

“Security Registrar” has the meaning specified in Section 2.05. 

“Securityholder,” “holder of Securities,” “registered holder,” or other similar term, means the Person or
Persons in whose name or names a particular Security shall be registered in the Security Register. 
 “Subsidiary” means, with
respect to any Person, (i) any corporation at least a majority of whose outstanding Voting Stock shall at the time be owned, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its
Subsidiaries, (ii) any general partnership, joint venture or similar entity, at least a majority of whose outstanding partnership or similar interests shall at the time be owned by such Person, or by one or more of its Subsidiaries, or by such
Person and one or more of its Subsidiaries and (iii) any limited partnership of which such Person or any of its Subsidiaries is a general partner. 

“Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean such successor Trustee. The term “Trustee” as used with respect to a particular series of the Securities shall
mean the trustee with respect to that series. 

  
 3 

 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, subject
to the provisions of Sections 9.01, 9.02, and 10.01, as in effect at the date of execution of this instrument; provided, however, that in the event the Trust Indenture Act is amended after such date, Trust Indenture Act means, to the extent required
by such amendment, the Trust Indenture Act of 1939, as so amended, or any successor statute. 
 “Voting Stock,” as applied to any
Person, means shares, interests, participations or other equivalents in the equity interest (however designated) in such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other
than shares, interests, participations or other equivalents having such power only by reason of the occurrence of a contingency. 
 ARTICLE
II 
 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 of the Company or pursuant to one or more indentures
supplemental hereto. Prior to the initial issuance of Securities of a given series, there shall be established in or pursuant to a Board Resolution of the Company, and set forth in an Officers’ Certificate of the Company, or established in one
or more indentures supplemental hereto: 

  

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

  

	 	(2)	 the aggregate principal amount of the Securities of such series initially to be issued and 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 currency or units based on or relating to currencies in which debt securities of such series are
denominated and the currency or units in which principal or interest or both will or may be payable; 

  

	 	(4)	 the date or dates on which the principal of the Securities of the series is payable and the place(s) of
payment; 

  

	 	(5)	 the rate or rates at which the Securities of the series shall bear interest or the manner of calculation of
such rate or rates, if any; 

  

	 	(6)	 the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will
be payable or the manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date for the determination of holders to whom interest is payable on any such Interest Payment Dates or the method for determining such
dates; 

  

	 	(7)	 the right, if any, to extend the interest payment periods or to defer the payment of interest and the duration
of such extension; 

  
 4 

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

  

	 	(9)	 the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking
fund or analogous provisions (including payments made in cash in satisfaction of future sinking fund obligations) or at the option of a holder thereof and the period or periods within which, the price or prices at which, and the terms and conditions
upon which, Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 

  

	 	(10)	 whether or not the debt securities will be secured or unsecured, and the terms of any secured debt;

  

	 	(11)	 the form of the Securities of the series including the form of the Certificate of Authentication for such
series; 

  

	 	(12)	 if other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the
denominations in which the Securities of the series shall be issuable; 

  

	 	(13)	 any and all other terms with respect to such series (which terms shall not be inconsistent with the terms of
this Indenture, as amended by any supplemental indenture) including any terms which may be required by or advisable under United States laws or regulations or advisable in connection with the marketing of Securities of that series;

  

	 	(14)	 whether the Securities are issuable as a Global Security and, in such case, the identity of the Depositary for
such series; 

  

	 	(15)	 whether the Securities will be convertible into shares of common stock or other securities of the Company and,
if so, the terms and conditions upon which such Securities will be so convertible, including the conversion price and the conversion period; 

  

	 	(16)	 if other than the 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; 

  

	 	(17)	 any additional or different Events of Default or restrictive covenants provided for with respect to the
Securities of the series; and 

  

	 	(18)	 the subordination terms of the Securities of the series. 

All Securities of any one series shall be substantially identical except as to denomination and 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
Officers’ 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. 

  
 5 

 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 of the Company and as set forth in an Officers’ Certificate of the Company and 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 stock 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)(12). The Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. The principal of and the interest on the Securities of any
series, as well as any premium thereon in case of redemption thereof prior to maturity, 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 maintained for that purpose in the Borough of Manhattan, the City and State of New York. 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 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, 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. 

  
 6 

	 	(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 of the Company 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 with respect to 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 last 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 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 its President, or one of its Vice Presidents, or its Treasurer, or one of its
Assistant Treasurers, or its Secretary, or one of its Assistant Secretaries, under its corporate seal attested by its Secretary or one of its Assistant Secretaries. 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 a President or Vice President thereof, or of any Person who shall have been a Treasurer or Assistant Treasurer thereof, or of any Person who shall have been a Secretary or Assistant
Secretary thereof, notwithstanding the fact that at the time the Securities shall be authenticated and delivered or disposed of such Person shall have ceased to be the President or a Vice President, the Treasurer or an Assistant Treasurer or the
Secretary or an Assistant Secretary, of the Company. The seal of the Company may be in the form of a facsimile of such seal and may be impressed, affixed, imprinted or otherwise reproduced on the Securities. 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. 

A Security shall not be valid or obligatory for any purpose and shall not be entitled to any benefit under this Indenture, in each case, until
authenticated with a certificate of authentication manually signed by an authorized signatory of the Trustee, or by an Authenticating Agent. Such certificate shall be conclusive evidence, and the only evidence, that the Security so authenticated has
been duly authenticated and delivered hereunder and that the Security 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 its President or any Vice President and its Secretary or any Assistant
Secretary, and the Trustee in accordance with such written order shall authenticate and deliver such Securities. 
 In authenticating such
Securities and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 7.01) shall be fully protected in relying upon, an Opinion of
Counsel stating that the form and terms thereof have been established 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. 

  
 7 

 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
designated for such purpose in the Borough of Manhattan, the City and State of New York, 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 designated for such purpose in the Borough
of Manhattan, the City and State of New York, or such other location designated by the Company 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)	 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, 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. 

  

	 	(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. The provisions of this Section 2.05 are, with respect to any Global Security, subject to Section 2.11 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 

  
 8 

 
designated for the purpose in the Borough of Manhattan, the City and State of New York, 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. 
 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, exchange or registration of transfer shall, if surrendered to the Company or
any paying 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 (and, with respect to the provisions of Article XIV, the holders of Senior Indebtedness, as defined in any supplement to this Indenture pursuant to Article XIV) 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 (and, with respect to the provisions of Article XIV, the holders of Senior Indebtedness). 

  
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 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 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. 
 SECTION 2.11    Global
Securities 
  

	 	(a)	 If the Company shall establish pursuant to Section 2.01 that some or all of 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, the Outstanding Securities of such series which are to be issued as a Global Security, (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 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, this Section 2.11 shall no longer be applicable to the Securities of such series and the
Company will execute, and subject to Section 2.05, 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 

  
 10 

	 	
such event the Company will execute and subject to Section 2.05, the Trustee, upon receipt of an Officers’ 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 III 
 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 the right reserved so to do, 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, a notice of such redemption not less than 30 days and not more than 90 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
Officers’ 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 Borough of Manhattan, the City and State of New York, 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 for 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 whole or 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 30
days’ notice 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

  
 11 

	 	
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 its President or any Vice President, 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). 

  

	 	(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 (other than any Securities previously called for redemption) 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 

  
 12 

 
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, the Company will deliver to the Trustee an
Officers’ 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 Officers’ 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 IV 
 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) and interest on the Securities of that
series at the time and place and in the manner provided herein and established with respect to such Securities. 
 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 Borough of Manhattan, the City and State of New York, 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 or surrendered 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 its President or a Vice
President 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. 

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; 

  
 13 

	 	(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 with monies held by all other paying
agents 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 (an 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 any paying agent to the Trustee, such paying agent shall be released from all further liability with respect to such money. 

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 company unless the provisions of Article X hereof are complied with. 

ARTICLE V 
 SECURITYHOLDERS’
LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE 
 SECTION 5.01    Company to Furnish Trustee Names and Addresses of Securityholders.

 If the Company is not the Security Register, the Company will furnish or use reasonable efforts to cause to be furnished to the Trustee
(a) on 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

  
 14 

 
(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) and shall otherwise comply with Section 312(a) of the Trust Indenture Act. 

  

	 	(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. 

 SECTION 5.03    Reports
by the Company. 
  

	 	(a)	 The Company covenants and agrees to file with the Trustee, within 15 days after the Company is required to file
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 may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of such sections, then to file
with the Trustee and the Commission, in accordance with the rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports that may be required pursuant to
Section 13 of the Exchange Act, in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; provided, however, the Company shall not be required to
deliver to the Trustee any materials for which the Company has sought and received confidential treatment by the Commission. The Company also shall comply with the other provisions of Section 314(a) of the Trust Indenture Act.

  

	 	(b)	 The Company covenants and agrees to file with the Trustee and the Commission, in accordance with the rules and
regulations prescribed from to time by the Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants provided for in this Indenture as may be required from time to time
by such rules and regulations. 

  

	 	(c)	 The Company covenants and agrees to transmit by mail, first class postage prepaid, or reputable over-night
delivery service that provides for evidence of receipt, to the Securityholders, as their names and addresses appear upon the Security Register, within 30 days after the filing thereof with the Trustee, such summaries of any information, documents
and reports required to be filed by the Company pursuant to subsections (a) and (b) of this Section as may be required by rules and regulations prescribed from time to time by the Commission. 

SECTION 5.04    Reports by the Trustee. 
  

	 	(a)	 The Trustee shall transmit to holders as provided in Section 313 of the Trust Indenture Act such reports
concerning the Trustee and its actions under this Indenture as may be required by Section 313 of the Trust Indenture Act at the times and in the manner provided by the Trust Indenture Act. 

  
 15 

	 	(b)	 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 stock exchange upon which any Securities are listed (if so listed) and, if required by Section 313 of the Trust Indenture Act, also with the Commission. The Company agrees to notify the Trustee when any Securities
become listed on any stock exchange. 

 ARTICLE VI 

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 continuance of such default 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 not less than a majority 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 

  

	 	(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
consecutive days. 

  

	 	(b)	 In each and every such case, 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 a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice

  
 16 

	 	
in writing to the Company (and to the Trustee if given by such Securityholders), may declare the principal (or, if any Securities of that series are discount securities, that portion of the
principal amount as may be specified in the terms of that series pursuant to Section 2.01(a)(16)) of (and premium, if any, on) and accrued and unpaid interest, if any, 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. Notwithstanding the foregoing, the payment of such principal (or, if any Securities of that series are discount securities, that portion of the principal
amount as may be specified in the terms of that series pursuant to Section 2.01(a)(16)) of (and premium, if any, on) and accrued and unpaid interest, if any, on the Securities of such series shall remain subordinated to the extent provided in
Article XIV. 

  

	 	(c)	 At any time after the principal of the Securities of that series shall have been so declared due and payable,
and before a 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 (or,
by action at a meeting of holders of the Securities of such series in accordance with Section 8.09, the holders of a majority in aggregate principal amount of the Securities of such series then Outstanding represented at such meeting), 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 and (ii) any and all Events of Default under this Indenture with respect to
such series, other than the nonpayment of principal of (and premium, if any, on) and accrued and unpaid interest, if any, on Securities of that series that shall have become due solely because of such acceleration, shall have been remedied, cured 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 (1) in case it shall default in the payment of any installment of interest on
any of the Securities of a series, or 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
Business Days, or (2) 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. 

  

	 	(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 

  
 17 

	 	
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 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 affected 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 this 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 this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture
or by law. 
 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 the
payment, if only partially paid, and upon surrender thereof if fully paid: 
  

	 	FIRST:	 To the payment of costs and expenses of collection and of all amounts payable to the Trustee under
Section 7.06; 

  

	 	SECOND:	 To the payment of all Senior Indebtedness of the Company if and to the extent required by Article XIV; and

  
 18 

	 	THIRD:	 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. 

 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 a majority 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; and (iv) the Trustee for 60 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 60 day period, the holders of a majority in principal amount of the Securities of that series (or such amount as shall have acted at a meeting of the holders of
Securities of such series pursuant to the provisions of this Indenture) do not give the Trustee a direction inconsistent with the request; provided, however, that no one or more of such holders may use this Indenture to prejudice the rights of
another holder or to obtain preference or priority over another holder. 
 Notwithstanding anything contained herein to the contrary, 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 on 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. 

  
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 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 8.01, shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to such series; provided,
however, that such direction shall not be in conflict with any rule of law or with this Indenture or be unduly prejudicial to the rights of holders of Securities of any other series at the time Outstanding determined in accordance with
Section 8.01. 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 would involve the Trustee in personal liability. 
 The holders either (a) through the written consent of not
less than a majority in aggregate principal amount of the Securities of any series at the time Outstanding or (b) by action at a meeting of holders of the Securities of such series in accordance with Section 8.09, by the holders of a
majority in aggregate principal amount of the Securities of such series then Outstanding represented at such meeting, 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))) and except in respect a provision hereof which, under Section 9.02, cannot be modified or amended without the consent of the holders of each Outstanding Security affected;
provided however that this Section shall not limit the right of holders of Securities of a series to rescind and annul any acceleration as set forth in Section 6.01. 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. The provisions which otherwise would be automatically deemed to be contained in this Indenture pursuant to Section 316(a)(1) of the Trust Indenture Act are hereby expressly excluded from
this Indenture, except to the extent such provisions are expressly included herein. 
 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 VII 

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 man would exercise or use under the circumstances in the conduct of his
own affairs. 

  
 20 

	 	(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: 

  

	 	(1)	 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: 

  

	 	(i)	 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 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 

  

	 	(ii)	 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 requirement of this
Indenture; 

  

	 	(2)	 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; 

  

	 	(3)	 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 

  

	 	(4)	 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;

  
 21 

	 	(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 the President or any Vice President and by the Secretary or an Assistant Secretary or the Treasurer or an Assistant Treasurer thereof (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 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 man would exercise or use under the
circumstances in the conduct of his own affairs; 

  

	 	(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; and 

 

	 	(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. 

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. 

  
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 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 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. 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 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 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. 

 SECTION
7.07    Reliance on Officers’ Certificate. 
 Except as otherwise provided in Section 7.01, whenever in the
administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or 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 Officers’ 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. 

  
 23 

 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 50 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
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 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: 

 

	 	(1)	 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 

  

	 	(2)	 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 

  

	 	(3)	 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, unless the Trustee’s duty to resign is stayed as provided herein, 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. 

  
 24 

	 	(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 (1) 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, (2) 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 (3) 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 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. 

  
 25 

	 	(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, 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. 
 ARTICLE VIII 

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 Officers’ 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. 

  
 26 

 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. 

  

	 	(c)	 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 Company 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. 
 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 of 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. 

  
 27 

 SECTION 8.06    Purposes for Which Meetings May Be Called. 

A meeting of holders of any series of Securities may be called at any time and from time to time pursuant to this Article to make, give or take
any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be made, given or taken by holders of such series of Securities. 

Notwithstanding anything contained in this Article VIII, the Trustee may, during the pendency of a Default or an Event of Default, call a
meeting of holders of any series of Securities in accordance with its standard practices. 
 SECTION 8.07    Call Notice and Place of
Meetings. 
  

	 	(a)	 The Trustee may at any time call a meeting of holders of any series of Securities for any purpose specified in
Section 8.06 hereof, to be held at such time and at such place in The City of New York. Notice of every meeting of holders of any series of Securities, setting forth the time and the place of such meeting, in general terms the action proposed
to be taken at such meeting and the percentage of the principal amount of the Outstanding Securities of such series which shall constitute a quorum at such meeting, shall be given, in the manner provided in Section 13.04 hereof, not less than
21 nor more than 180 days prior to the date fixed for the meeting to holders of Outstanding Securities of such series. 

  

	 	(b)	 In case at any time the Company, pursuant to a Board Resolution, or the holders of at least 10% in principal
amount of the Outstanding Securities of any series shall have requested the Trustee to call a meeting of the holders of Securities of such series for any purpose specified in Section 8.06 hereof, by written request setting forth in reasonable
detail the action proposed to be taken at the meeting, and the Trustee shall not have made the first publication of the notice of such meeting within 21 days after receipt of such request or shall not thereafter proceed to cause the meeting to be
held as provided herein, then the Company or the holders of Securities of such series in the amount specified, as the case may be, may determine the time and the place in The City of New York for such meeting and may call such meeting for such
purposes by giving notice thereof as provided in paragraph (a) of this Section. 

 SECTION 8.08    Persons
Entitled To Vote at Meetings. 
 To be entitled to vote at any meeting of holders of Securities of a given series, a Person shall be
(a) a holder of one or more Outstanding Securities of such series or (b) a Person appointed by an instrument in writing as proxy for a holder or holders of one or more Outstanding Securities of such series by such holder or holders. The
only Persons who shall be entitled to be present or to speak at any meeting of holders shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives of the Company
and its counsel. 
 SECTION 8.09    Quorum; Action. 

The Persons entitled to vote a majority in aggregate principal amount of the Outstanding Securities of a given series shall constitute a quorum
with respect to a meeting of holders of Outstanding Securities of such series. In the absence of a quorum within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened at the request of holders of Securities of such
series, be dissolved. In any other case, the meeting may be adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned
meeting, such adjourned meeting may be further adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting shall
be given as provided in Section 8.07(a) hereof, except that such notice need be given only once and not less than five days prior to the date on which the meeting is scheduled to be reconvened. 

  
 28 

 At a meeting or an adjourned meeting duly reconvened and at which a quorum is present as
aforesaid, any resolution and all matters (except as limited by the proviso to the first paragraph of Section 9.02 hereof) shall be effectively passed and decided if passed or decided by the Persons entitled to vote not less than a majority in
aggregate principal amount of Outstanding Securities of a series represented and voting at such meeting with respect to a meeting of holders of Outstanding Securities of such series. 

Any resolution passed or decisions taken at any meeting of holders of Securities duly held in accordance with this Section shall be binding on
all the holders of Securities of such series, whether or not present or represented at the meeting. 
 SECTION 8.10    Determination of
Voting Rights; Conduct and Adjournment of Meetings. 
  

	 	(a)	 Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it
may deem advisable for any meeting of holders of Securities in regard to proof of the holding of Securities and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination of
proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. 

  

	 	(b)	 The Trustee shall, by an instrument in writing, appoint a temporary chairman (which may be the Trustee) of the
meeting, unless the meeting shall have been called by the Company or by holders of Securities of a given series as provided in Section 8.07(b) hereof, in which case the Company or the holders of Securities of such series calling the meeting, as
the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal amount of the Outstanding Securities
of such series represented at the meeting. 

  

	 	(c)	 At any meeting, each holder of a Security of the series in respect of which such meeting is being held or proxy
shall be entitled to one vote for each $1,000 principal amount of Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security of such series challenged as
not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote, except as a holder of a Security of such series or proxy. 

 

	 	(d)	 Any meeting of holders of Securities duly called pursuant to Section 8.07 hereof at which a quorum is
present may be adjourned from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities of the series in respect of which such meeting is being held represented at the meeting, and the meeting may be held
as so adjourned without further notice. 

 SECTION 8.11    Counting Votes and Recording Action of Meetings. 

The vote upon any resolution submitted to any meeting of holders of Securities of a given series shall be by written ballots on which shall be
subscribed the signatures of the holders of Securities of such series or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Securities of such series held or represented by them. The permanent chairman
of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes
cast at the meeting. A record, at least in duplicate, of the proceedings of each meeting of holders of Securities of such series shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the
inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided in Section 8.07
hereof and, if applicable, Section 8.09 

  
 29 

 
hereof. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company and another to the
Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

ARTICLE IX 
 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 the Securityholders, for one or more of the following purposes: 

 

	 	(a)	 cure any ambiguity, correct or supplement any provision herein which may be inconsistent with any other
provision herein or which is otherwise defective, or make any other provisions with respect to matters or questions arising under this Indenture which the Company and the Trustee may deem necessary or desirable and which shall not be inconsistent
with the provisions of this Indenture; 

  

	 	(b)	 to comply with Article X; 

 

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

  

	 	(d)	 to add to the covenants of the Company for the benefit of the holders of all or any Series of Securities (and
if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon the Company;

  

	 	(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 herein set forth; 

  

	 	(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; or

  

	 	(h)	 comply with the requirements of the Commission in order to effect or maintain 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. 

  
 30 

 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 Outstanding Securities of any series or by
action at a meeting of holders of the Securities of such series in accordance with Section 8.09, by the holders of a majority in aggregate principal amount of the Securities of such series then Outstanding represented at such meeting, the
Company, when authorized by Board Resolutions, 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, (i) extend the fixed maturity of any
Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon the redemption thereof, (ii) reduce the aforesaid percentage of
Securities, the holders of which are required to consent to any such supplemental indenture, or any consent or waiver, (iii) reduce the principal amount of discount securities payable upon acceleration of the maturity of any Securities of any
series or (iv) make the principal of or premium or interest on any Security of a series payable in currency or currency units other than that stated in the Securities of such series. 

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. 

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 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 of the Company, 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
Section 7.01, may receive an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by, and conforms to, the terms of this Article and that it is proper for the
Trustee under the provisions of this Article to join in the execution thereof; provided, however, that such Opinion of Counsel need not be provided in connection with the execution of a supplemental indenture that establishes the terms of a series
of Securities pursuant to Section 2.01 hereof. 

  
 31 

 Promptly after the execution by the Company and the Trustee of any supplemental indenture
pursuant to the provisions of this Section, the Trustee shall 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 Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 

ARTICLE X 
 SUCCESSOR ENTITY 

SECTION 10.01    Company May Consolidate, Etc. 

Nothing contained in this Indenture or in any of the Securities 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) 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 satisfactory in form to the Trustee, of the due and punctual payment of the principal of, premium, if any, and interest on all of the Securities
of all series Outstanding and the due and punctual performance of all of the covenants and conditions of this Indenture or established with respect to each series of the Securities pursuant to Section 2.01 to be performed by the Company with
respect to each series, 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). 

 SECTION 10.03    Evidence of Consolidation, Etc. to Trustee. 

The Trustee, subject to the provisions of Section 7.01, may receive an Opinion of Counsel as conclusive evidence that any such
consolidation, merger, sale, conveyance, transfer or other disposition, and any such assumption, comply with the provisions of this Article. 

  
 32 

 ARTICLE XI 

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 (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
sufficient or a combination thereof, sufficient (assuming that no tax liability will be imposed on the Trustee) 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. 
 SECTION 11.03    Deposited Moneys to be Held in Trust. 

Subject to Section 11.05, 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. 

  
 33 

 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 or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for 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, shall be repaid to the Company or (if then held by the Company) shall be discharged from such trust in each case, promptly after the end of any such
two-year period or, at the request of the Company, on a later date specified by the Company; 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 an unsecured general creditor, look only to the Company for the payment thereof. 

ARTICLE XII 
 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. 
 ARTICLE XIII

 MISCELLANEOUS PROVISIONS 
 SECTION
13.01    Effect on Successors and Assigns. 
 All the covenants, stipulations, promises and agreements in this Indenture
contained 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. 

  
 34 

 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 or demand that by any provision of this Indenture is required or permitted to be given
or served by the Trustee or by the holders of Securities to or on the Company may be given or served by being deposited first class postage prepaid in a post-office letterbox addressed (until another address is filed in writing by the Company with
the Trustee), as follows: Pieris Pharmaceuticals, Inc., Attn: [    ], 255 State Street, 9th Floor, Boston, Massachusetts 02109. Any notice, election, request or demand by
the Company or any Securityholder 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. Any notice or communication to a holder
shall be mailed by first-class mail to his address shown on the Security Register kept by the Security Registrar. Failure to mail a notice or communication to a holder or any defect in such notice or communication shall not affect its sufficiency
with respect to other holders. If a notice or communication is mailed or sent in the manner provided above within the time prescribed, it is duly given as of the date it is mailed, whether or not the addressee receives it, except that notice to the
Trustee or the Company shall only be effective upon receipt thereof by the Trustee or the Company, respectively. If the Company mails a notice or communication to holders of Securities, it shall mail a copy to the Trustee at the same time. 

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. 
 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    Compliance Certificates and Opinions. 

 

	 	(a)	 Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of
this Indenture, the Company, shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating
that in the opinion of such counsel all such conditions precedent 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 or opinion need be furnished. 

  

	 	(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 shall include (1) a statement that the Person making such certificate or opinion has read such covenant or condition; (2) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (3) a statement that, in the opinion of such Person, he has made such examination or investigation as is necessary to enable
him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (4) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with.

  
 35 

 SECTION 13.08     Payments on Business Days. 

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

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    Assignment. 

The Company will have the right at all times to assign any of its rights or obligations under this Indenture to a direct or indirect
wholly-owned Subsidiary of the Company, provided that, in the event of any such assignment, the Company, will remain liable for all such obligations. Subject to the foregoing, this Indenture is binding upon and inures to the benefit of the parties
thereto and their respective successors and assigns. This Indenture may not otherwise be assigned by the parties thereto. 
 ARTICLE XIV 

SUBORDINATION OF SECURITIES 
 SECTION
14.01    Subordination Terms. 
 The payment by the Company of the principal of, premium, if any, and interest on any
series of Securities issued hereunder shall be subordinated to the extent set forth in an indenture supplemental hereto relating to the Securities of such series. 

  
 36 

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

			
	PIERIS PHARMACEUTICALS, INC.
		
	By:	 	                
		 	Name:
		 	Title:
	
	
[                        ],

As Trustee

		
	By:	 	                
		 	Name:
		 	Title:

  
 37Exhibit 4.1

 

AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

of

EUROPEAN WAX CENTER, INC.

 

(Pursuant to Section 242 and 245 of

the General Corporation Law of the State of Delaware)

 

European Wax Center, Inc., a corporation organized
and existing under the laws of the State of Delaware (the “Corporation”), hereby certifies as follows:

 

FIRST:           The name of the Corporation is European
Wax Center, Inc. The date of filing of its original certificate of incorporation with the Secretary of State of the State of Delaware
was April 1, 2021.

 

SECOND:      This Amended and Restated Certificate
of Incorporation (this “Amended Certificate of Incorporation”) amends and restates in its entirety the Corporation’s
certificate of incorporation as currently in effect and has been duly adopted in accordance with the provisions of Sections 242 and
245 of the General Corporation Law of the State of Delaware (the “General Corporation Law”), by written consent of
the holders of all of the outstanding stock entitled to vote thereon in accordance with the provisions of Section 228 of the General
Corporation Law.

 

THIRD:        This Amended Certificate of Incorporation
amends and restates in its entirety the original certificate of incorporation of the Corporation to read as follows:

 

1.                 
Name. The name of the Corporation is European Wax Center, Inc.

 

2.                 
Address; Registered Office and Agent. The address of the Corporation’s registered office in the State of
Delaware is 3411 Silverside Road, Tatnall Building #104, City of Wilmington, County of New Castle, State of Delaware 19810, and the name
of its registered agent at such address is Corporate Creations Network Inc.

 

3.                 
Purposes. The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized
under the General Corporation Law.

 

4.                 
Number of Shares.

 

4.1              The
total number of shares of all classes of stock that the Corporation shall have authority to issue is 760,000,000 shares, consisting
of: (i) 660,000,000 shares of common stock, divided into (a) 600,000,000 shares of Class A common stock, par value
$0.00001 per share (the “Class A Common Stock”) and (b) 60,000,000 shares of Class B common stock, par value
$0.00001 per share (the “Class B Common Stock” and, together with Class A Common Stock, the “Common
Stock”); and (ii) 100,000,000 shares of preferred stock, par value $0.00001 per share (the “Preferred
Stock”).

 

     

    2

    

 

4.2             
Subject to the rights of the holders of any one or more series of Preferred Stock then outstanding, the number of authorized shares
of any class of the Common Stock or the Preferred Stock may be increased or decreased, in each case by the affirmative vote of the holders
of a majority of the total voting power of the outstanding shares of capital stock of the Corporation entitled to vote thereon, voting
together as a single class, irrespective of the provisions of Section 242(b)(2) of the General Corporation Law, and no vote of the
holders of any class of the Common Stock or the Preferred Stock voting separately as a class will be required therefor. Notwithstanding
the immediately preceding sentence, the number of authorized shares of any particular class may not be decreased below the number of shares
of such class then outstanding, plus:

 

(i)                
in the case of Class A Common Stock, the number of shares of Class A Common Stock issuable in connection with (x) the exchange
of all outstanding shares of Class B Common Stock issuable as described in clause (ii) below, together with the corresponding Common
Units constituting the remainder of any Paired Interests in which such shares are included, pursuant to Section 2.01 of the Exchange
Agreement and (y) the exercise of outstanding options, warrants, exchange rights, conversion rights or similar rights for Class A
Common Stock; and

 

(ii)             
in the case of Class B Common Stock, the number of shares of Class B Common Stock issuable in connection with the exercise of outstanding
options, warrants, exchange rights, conversion rights or similar rights for Class B Common Stock.

 

5.                 
Classes of Shares. The designation, relative rights, preferences and limitations of the shares of each class of stock are
as follows:

 

5.1             
Common Stock.

 

(i)                
Voting Rights.

 

(1)              
Each holder of Class A Common Stock or Class B Common Stock, as such, shall be entitled to one vote for each share of Class A
Common Stock or Class B Common Stock held of record by such holder on all matters on which stockholders generally are entitled to vote,
except that, in each case, to the fullest extent permitted by law and subject to Section 5.1(i)(2), holders of shares of each class of
Common Stock, as such, shall have no voting power with respect to, and will not be entitled to vote on, any amendment to this Amended
Certificate of Incorporation (including any certificate of designations relating to any series of Preferred Stock) that relates solely
to the terms of any outstanding Preferred Stock if the holders of such Preferred Stock are entitled to vote as a separate class thereon
under this Amended Certificate of Incorporation (including any certificate of designations relating to any series of Preferred Stock)
or under the General Corporation Law.

 

     

    3

    

  

(2)               (a)
The holders of the outstanding shares of Class A Common Stock, voting together as a single class, shall be entitled to vote
separately upon any amendment to this Amended Certificate of Incorporation (including by merger, consolidation, reorganization or
similar event) that would alter or change the powers, preferences, or special rights of such class of Common Stock in a manner that
is disproportionately adverse as compared to the Class B Common Stock and (b) the holders of the outstanding shares of Class B
Common Stock, voting together as a single class, shall be entitled to vote separately upon any amendment to this Amended Certificate
of Incorporation (including by merger, consolidation, reorganization or similar event) that would alter or change the powers,
preferences, or special rights of such class of Common Stock in a manner that is disproportionately adverse as compared to the Class
A Common Stock, it being understood that any merger, consolidation or other business combination shall not be deemed an amendment
hereof if such merger, consolidation or other business combination constitutes a Disposition Event in which holders of Paired
Interests are required to exchange such Paired Interests pursuant to Section 2.04 of the Exchange Agreement in such Disposition
Event and receive consideration in such Disposition Event in accordance with the terms of the Exchange Agreement as in effect prior
to such Disposition Event.

 

(3)              
Except as otherwise required in this Amended Certificate of Incorporation or by applicable law, the holders of Common Stock will
vote together as a single class on all matters (or, if any holders of Preferred Stock are entitled to vote together with the holders
of Common Stock, as a single class with the holders of Preferred Stock).

 

(ii)             
Dividends; Stock Splits or Combinations.

 

(1)              
Subject to applicable law and the rights, if any, of the holders of any outstanding series of Preferred Stock or any class or series
of stock having a preference senior to or the right to participate with the Class A Common Stock with respect to the payment of dividends,
dividends of cash or property may be declared and paid on the Class A Common Stock out of the assets of the Corporation that are by law
available therefor, at the times and in the amounts as the board of directors of the Corporation (the “Board”) in its
discretion may determine.

 

(2)              
Except as provided in Section 5.1(ii)(3) with respect to stock dividends, dividends of cash or property may not be declared
or paid on the Class B Common Stock.

 

(3)              
In no event will any stock dividend, stock split, reverse stock split, combination of stock, reclassification or recapitalization
be declared or made on any class of Common Stock (each, a “Stock Adjustment”) unless (a) a corresponding Stock
Adjustment for all other classes of Common Stock not so adjusted at the time outstanding is made in the same proportion and the same manner
and (b) the Stock Adjustment has been reflected in the same economically equivalent manner on all Common Units; provided that
clause (b) shall not apply to a stock dividend declared and paid in connection with a contribution of cash to EWC Ventures of cash previously
received as a distribution from EWC Ventures. Stock dividends with respect to each class of Common Stock may only be paid with shares
of stock of the same class of Common Stock.

 

     

    4

    

  

(iii)           
 Liquidation. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the
Corporation, after payment or provision for payment of the debts and other liabilities of the Corporation and of the preferential and
other amounts, if any, to which the holders of Preferred Stock are entitled, if any, the holders of all outstanding shares of Common Stock
will be entitled to receive, pari passu, an amount per share equal to the par value thereof, and thereafter the holders of all
outstanding shares of Class A Common Stock will be entitled to receive the remaining assets of the Corporation available for distribution
ratably in proportion to the number of shares of Class A Common Stock. Without limiting the rights of the holders of Class B Common Stock
to exchange their shares of Class B Common Stock, together with the corresponding Common Units constituting the remainder of any Paired
Interests in which such shares are included, for shares of Class A Common Stock in accordance with Section 2.01 of the Exchange Agreement
(or for the consideration payable in respect of shares of Class A Common Stock in such voluntary or involuntary liquidation, dissolution
or winding up), the holders of shares of Class B Common Stock, as such, will not be entitled to receive, with respect to such shares,
any assets of the Corporation in excess of the par value thereof, in the event of any voluntary or involuntary liquidation, dissolution
or winding up of the affairs of the Corporation.

 

5.2              Preferred
Stock. Shares of Preferred Stock may be issued from time to time in one or more series of any number of shares, provided that
the aggregate number of shares issued and not retired of any and all such series shall not exceed the total number of shares of
Preferred Stock hereinabove authorized, and with such powers, including voting powers, if any, and the designations, preferences and
relative, participating, optional or other special rights, if any, and any qualifications, limitations or restrictions thereof, all
as shall hereafter be stated and expressed in the resolution or resolutions providing for the designation and issue of such shares
of Preferred Stock from time to time adopted by the Board pursuant to authority so to do which is hereby expressly vested in the
Board. The powers, including voting powers, if any, preferences and relative, participating, optional and other special rights of
each series of Preferred Stock, and the qualifications, limitations or restrictions thereof, if any, may differ from those of any
and all other series at any time outstanding. Each series of shares of Preferred Stock: (i) may have such voting rights or
powers, full or limited, if any; (ii) may be subject to redemption at such time or times and at such prices, if any;
(iii) may be entitled to receive dividends (which may be cumulative or non-cumulative) at such rate or rates, on such
conditions and at such times, and payable in preference to, or in such relation to, the dividends payable on any other class or
classes or series of stock, if any; (iv) may have such rights upon the voluntary or involuntary liquidation, winding up or
dissolution of, upon any distribution of the assets of, or in the event of any merger, sale or consolidation of, the Corporation, if
any; (v) may be made convertible into or exchangeable for, shares of any other class or classes or of any other series of the
same or any other class or classes of stock of the Corporation (or any other securities of the Corporation or any other Person) at
such price or prices or at such rates of exchange and with such adjustments, if any; (vi) may be entitled to the benefit of a
sinking fund to be applied to the purchase or redemption of shares of such series in such amount or amounts, if any; (vii) may
be entitled to the benefit of conditions and restrictions upon the creation of indebtedness of the Corporation or any subsidiary,
upon the issue of any additional shares (including additional shares of such series or of any other series) and upon the payment of
dividends or the making of other distributions on, and the purchase, redemption or other acquisition by the Corporation or any
subsidiary of, any outstanding shares of the Corporation, if any; (viii) may be subject to restrictions on transfer or
registration of transfer, or on the amount of shares that may be owned by any Person or group of Persons; and (ix) may have
such other relative, participating, optional or other special rights, qualifications, limitations or restrictions thereof, if any;
all as shall be stated in said resolution or resolutions of the Board providing for the designation and issue of such shares of
Preferred Stock.

 

     

    5

    

 

6.                 
Exchange of Shares.

 

6.1             
Exchange of Class B Common Stock. Shares of Class B Common Stock may be exchanged, together with the corresponding Common
Units constituting the remainder of any Paired Interests in which such shares are included, as applicable, at any time and from time to
time for shares of Class A Common Stock in accordance with Section 2.01 of the Exchange Agreement.

 

6.2             
Taxes. The issuance of shares of Class A Common Stock upon the exercise by holders of shares of Class B Common Stock of
their right under Section 2.01 of the Exchange Agreement to exchange Paired Interests will be made without charge to the holders
of the shares of Class B Common Stock for any transfer taxes, stamp taxes or duties or other similar tax in respect of the issuance; provided,
however, that if any such shares of Class A Common Stock are to be issued in a name other than that of the then record holder of
the shares of Class B Common Stock being exchanged (or The Depository Trust Company or its nominee for the account of a participant of
The Depository Trust Company that will hold the shares for the account of such holder), then such holder and/or the Person in whose name
such shares are to be delivered, shall pay to the Corporation the amount of any tax that may be payable in respect of any transfer involved
in the issuance or shall establish to the reasonable satisfaction of the Corporation that the tax has been paid or is not payable.

 

6.3             
Retirement of Class B Common Stock. In the event that no Paired Interests remain exchangeable for shares of Class A Common
Stock, the Class B Common Stock shall be transferred to the Corporation and thereupon shall be retired. In the event that any outstanding
share of Class B Common Stock shall cease to be held by a holder of Common Units, such share shall automatically and without further action
on the part of the Corporation or its holder be transferred to the Corporation and thereupon shall be retired and cease to be outstanding
and may not be reissued by the Corporation.

 

7.                 
Board of Directors.

 

7.1             
Number of Directors.

 

(i)                 The
business and affairs of the Corporation shall be managed by, or under the direction of, the Board. Unless and except to the extent
that the Amended and Restated By-laws of the Corporation (as such By-laws may be amended from time to time, the
 “By-laws”) shall so require, the election of the directors of the Corporation (the
 “Directors”) need not be by written ballot. Except as otherwise provided for or fixed pursuant to the provisions
of Section 5.2 of this Amended Certificate of Incorporation relating to the rights of the holders of any series of Preferred
Stock to elect additional Directors, the total number of Directors constituting the entire Board shall be not less than three (3)
nor more than twenty (20), with the then authorized number of Directors being fixed from time to time by the Board.

 

     

    6

    

 

(ii)             
During any period when the holders of any series of Preferred Stock have the right to elect additional Directors as provided for
or fixed pursuant to the provisions of Section 5.2 (“Preferred Stock Directors”), upon the commencement, and for
the duration, of the period during which such right continues: (i) the then total authorized number of Directors shall automatically
be increased by such specified number of Preferred Stock Directors, and the holders of the related Preferred Stock shall be entitled to
elect the Preferred Stock Directors pursuant to the provisions of the Board’s designation for the series of Preferred Stock, and
(ii) each such Preferred Stock Director shall serve until such Preferred Stock Director’s successor shall have been duly elected
and qualified, or until such Preferred Stock Director’s right to hold such office terminates pursuant to such provisions, whichever
occurs earlier, subject to his or her earlier death, disqualification, resignation or removal. Except as otherwise provided by the Board
in the resolution or resolutions establishing such series, whenever the holders of any series of Preferred Stock having such right to
elect Preferred Stock Directors are divested of such right pursuant to the provisions of such stock, the terms of office of all such Preferred
Stock Directors elected by the holders of such Preferred Stock, or elected to fill any vacancies resulting from the death, resignation,
disqualification or removal of such Preferred Stock Directors, shall forthwith terminate and the total and authorized number of Directors
shall be reduced accordingly.

 

7.2             
Staggered Board. The Board (other than Preferred Stock Directors) shall be divided into three (3) classes, as nearly equal
in number as possible, designated Class I, Class II and Class III. Class I Directors shall initially serve until the first
annual meeting of stockholders following the effectiveness of this Amended Certificate of Incorporation; Class II Directors shall
initially serve until the second annual meeting of stockholders following the effectiveness hereof; and Class III Directors shall
initially serve until the third annual meeting of stockholders following the effectiveness hereof. Commencing with the first annual meeting
of stockholders following the effectiveness hereof, each Director of each class the term of which shall then expire shall be elected to
hold office for a three-year term and until such Director’s successor has been duly elected and qualified. In case of any increase
or decrease, from time to time, in the number of Directors (other than Preferred Stock Directors), the number of Directors in each class
shall be apportioned as nearly equal as possible. The Board is authorized to assign members of the Board already holding office to Class
I, Class II and Class III.

 

7.3              Vacancies
and Newly Created Directorships. Subject to the rights of the holders of any one or more series of Preferred Stock then
outstanding and subject to obtaining any required stockholder votes or consents under the Stockholders Agreement, newly created
directorships resulting from any increase in the authorized number of Directors or any vacancies on the Board resulting from death,
resignation, retirement, disqualification, removal from office or other cause shall be filled by the affirmative vote of a majority
of the remaining Directors then in office, even if less than a quorum of the Board or, prior to the 50% Triggering Event, by the
affirmative vote of the holders of a majority of the total voting power of the outstanding shares of capital stock of the
Corporation entitled to vote generally in the election of Directors, voting together as a single class. Any Director so chosen shall
hold office until the next election of the class for which such Director shall have been chosen and until his or her successor shall
be duly elected and qualified or until such Director’s earlier death, disqualification, resignation or removal. No decrease in
the number of Directors shall shorten the term of any Director then in office.

 

     

    7

    

 

7.4             
Removal of Directors. Except for Preferred Stock Directors and subject to obtaining any required stockholder votes or consents
under the Stockholders Agreement, any Director or the entire Board may be removed from office at any time, but only for cause by the affirmative
vote of the holders of sixty-six and two-thirds percent (66 2/3%) of the total voting power of the outstanding shares of capital stock
of the Corporation entitled to vote generally in the election of Directors, voting together as a single class; provided, however,
that prior to the 50% Triggering Event, any Director may be removed with or without cause by the affirmative vote of the holders of a
majority of the total voting power of the outstanding shares of capital stock of the Corporation entitled to vote generally in the election
of Directors, voting together as a single class.

 

8.                 
Meetings of Stockholders.

 

8.1             
Action by Written Consent. Prior to the 40% Triggering Event, any action which is
required or permitted to be taken by the stockholders of the Corporation may be taken without a meeting, without prior notice and without
a vote if a consent or consents in writing, setting forth the action so taken, is signed by the holders of outstanding stock having not
less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares of the
Corporation’s capital stock entitled to vote thereon were present and voted. From and after the 40% Triggering Event, any
action required or permitted to be taken by the stockholders of the Corporation may be taken only at a duly called annual or special meeting
of the stockholders of the Corporation and the power of stockholders to consent in writing without a meeting is specifically denied; provided,
however, that any action required or permitted to be taken by the holders of Preferred Stock, voting separately as a series or
separately as a class with one or more other such series, may be taken without a meeting, without prior notice and without a vote, unless
expressly prohibited in the resolutions creating such series of Preferred Stock.

 

8.2             
Special Meetings of Stockholders. Subject to any special rights of the holders of any series of Preferred Stock, and to
the requirements of applicable law, special meetings of stockholders of the Corporation may be called only (i) by or at the direction
of the Board pursuant to a written resolution adopted by a majority of the total number of Directors that the Corporation would have if
there were no vacancies or (ii) by or at the direction of the Chair or the Chief Executive Officer. In addition, prior to the 40%
Triggering Event, special meetings of stockholders of the Corporation may be called by the Chair or Secretary of the Corporation at the
request of the Principal Stockholders. Any business transacted at any special meeting of stockholders shall be limited to matters relating
to the purpose or purposes stated in the notice of meeting.

 

8.3             
Election of Directors by Written Ballot. Unless and except to the extent that the By-laws shall so require, the election
of the Directors need not be by written ballot.

 

     

    8

    

 

9.                 
 Business Combinations.

 

9.1             
Section 203 of the General Corporation Law. The Corporation expressly elects not to be subject to the provisions of
Section 203 of the General Corporation Law.

 

9.2             
Limitations on Business Combinations. Notwithstanding any other provision in this Amended Certificate of Incorporation to
the contrary, the Corporation shall not engage in any business combination (as defined below), at any point in time at which the Corporation’s
Class A Common Stock is registered under Section 12(b) or 12(g) of the Exchange Act, with any interested stockholder (as defined
below) for a period of three (3) years following the time that such stockholder became an interested stockholder, unless:

 

(i)                
prior to such time, the Board approved either the business combination or the transaction which resulted in such stockholder becoming
an interested stockholder,

 

(ii)             
upon consummation of the transaction which resulted in such stockholder becoming an interested stockholder, such interested stockholder
owned at least eighty-five (85)% of the voting stock (as defined below) of the Corporation outstanding at the time the transaction commenced,
excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by such interested stockholder)
those shares owned by (i) persons who are Directors and also officers of the Corporation or (ii) employee stock plans in which
employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a
tender or exchange offer, or

 

(iii)           
at or subsequent to such time, the business combination is approved by the Board and authorized at an annual or special meeting
of stockholders, and not by written consent, by the affirmative vote of at least two thirds of the outstanding voting stock of the Corporation
which is not owned by such interested stockholder.

 

9.3             
Definitions. For purposes of this Article 9:

 

(i)                
“affiliate” means a person that directly, or indirectly through one or more intermediaries, controls, or is
controlled by, or is under common control with, another person.

 

(ii)             
“associate,” when used to indicate a relationship with any person, means: (i) any corporation, partnership,
unincorporated association or other entity of which such person is a director, officer or general partner or is, directly or indirectly,
the owner of twenty-percent (20%) or more of any class of voting stock; (ii) any trust or other estate in which such person has at
least a twenty-percent (20%) beneficial interest or as to which such person serves as trustee or in a similar fiduciary capacity; and
(iii) any relative or spouse of such person, or any relative of such spouse, who has the same residence as such person.

 

     

    9

    

 

(iii)           
“business combination” means:

 

(1)              
 any merger or consolidation of the Corporation or any direct or indirect majority-owned subsidiary of the Corporation (a) with
the interested stockholder, or (b) with any other corporation, partnership, unincorporated association or other entity if the merger
or consolidation is caused by the interested stockholder and as a result of such merger or consolidation Section 9.2 is not applicable
to the surviving entity;

 

(2)              
any sale, lease, exchange, mortgage, pledge, transfer or other disposition (in one transaction or a series of transactions), except
proportionately as a stockholder of the Corporation, to or with the interested stockholder, whether as part of a dissolution or otherwise,
of assets of the Corporation or of any direct or indirect majority-owned subsidiary of the Corporation which assets have an aggregate
market value equal to ten percent (10%) or more of either the aggregate market value of all the assets of the Corporation determined on
a consolidated basis or the aggregate market value of all the outstanding stock of the Corporation;

 

(3)              
any transaction which results in the issuance or transfer by the Corporation or by any direct or indirect majority-owned subsidiary
of the Corporation of any stock of the Corporation or of such subsidiary to the interested stockholder, except: (a) pursuant to the
exercise, exchange or conversion of securities exercisable for, exchangeable for or convertible into stock of the Corporation or any such
subsidiary which securities were outstanding prior to the time that the interested stockholder became such; (b) pursuant to a merger
under Section 251(g) of the General Corporation Law; (c) pursuant to a dividend or distribution paid or made, or the exercise,
exchange or conversion of securities exercisable for, exchangeable for or convertible into stock of the Corporation or any such subsidiary
which security is distributed, pro rata to all holders of a class or series of stock of the Corporation subsequent to the time the interested
stockholder became such; (d) pursuant to an exchange offer by the Corporation to purchase stock made on the same terms to all holders
of such stock; or (e) any issuance or transfer of stock by the Corporation; provided, however, that in no case under
items (c)-(e) of this subsection (3) shall there be an increase in the interested stockholder’s proportionate share of the
stock of any class or series of the Corporation or of the voting stock of the Corporation (except as a result of immaterial changes due
to fractional share adjustments);

 

(4)              
any transaction involving the Corporation or any direct or indirect majority-owned subsidiary of the Corporation which has the
effect, directly or indirectly, of increasing the proportionate share of the stock of any class or series, or securities convertible into
the stock of any class or series, of the Corporation or of any such subsidiary which is owned by the interested stockholder, except as
a result of immaterial changes due to fractional share adjustments or as a result of any purchase or redemption of any shares of stock
not caused, directly or indirectly, by the interested stockholder; or

 

(5)              
any receipt by the interested stockholder of the benefit, directly or indirectly (except proportionately as a stockholder of the
Corporation), of any loans, advances, guarantees, pledges, or other financial benefits (other than those expressly permitted in subsections (1)-(4)
above) provided by or through the Corporation or any direct or indirect majority-owned subsidiary.

 

     

    10

    

 

(iv)            
 “control,” including the terms “controlling,” “controlled by” and “under
common control with,” means the possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of a person, whether through the ownership of voting stock, by contract, or otherwise. A person who is the owner of twenty
percent (20%) or more of the outstanding voting stock of any corporation, partnership, unincorporated association or other entity shall
be presumed to have control of such entity, in the absence of proof by a preponderance of the evidence to the contrary. Notwithstanding
the foregoing, a presumption of control shall not apply where such person holds voting stock, in good faith and not for the purpose of
circumventing this Article 9, as an agent, bank, broker, nominee, custodian or trustee for one or more owners who do not individually
or as a group (as such term is used in Rule 13d-5 of the Exchange Act) have control of such entity.

 

(v)              
“interested stockholder” means any person (other than the Corporation or any direct any indirect majority-owned
subsidiary of the Corporation) that (i) is the owner of fifteen percent (15%) or more of the outstanding voting stock of the Corporation,
or (ii) is an affiliate or associate of the Corporation and was the owner of fifteen percent (15%) or more of the outstanding voting
stock of the Corporation at any time within the three (3) year period immediately prior to the date on which it is sought to be determined
whether such person is an interested stockholder, and the affiliates and associates of such person; provided, however, that
the term “interested stockholder” shall not include (a) the Principal Stockholders or Principal Stockholder transferees
or (b) any person whose ownership of shares in excess of the fifteen percent (15%) limitation set forth herein is the result of any
action taken solely by the Corporation; provided that such person specified in this clause (b) shall be an interested stockholder
if thereafter such person acquires additional shares of voting stock of the Corporation, except as a result of further corporate action
not caused, directly or indirectly, by such person. For the purpose of determining whether a person is an interested stockholder, the
voting stock of the Corporation deemed to be outstanding shall include stock deemed to be owned by the person through application of the
definition of “owner” below but shall not include any other unissued stock of the Corporation which may be issuable pursuant
to any agreement, arrangement or understanding, or upon exercise of conversion rights, warrants or options, or otherwise.

 

(vi)            
“owner,” including the terms “own” and “owned,” when used with respect
to any stock, means a person that individually or with or through any of its affiliates or associates:

 

(1)              
beneficially owns such stock, directly or indirectly; or

 

(2)               has
(a) the right to acquire such stock (whether such right is exercisable immediately or only after the passage of time) pursuant
to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, warrants or options, or
otherwise; provided, however, that a person shall not be deemed the owner of stock tendered pursuant to a tender or
exchange offer made by such person or any of such person’s affiliates or associates until such tendered stock is accepted for
purchase or exchange; or (b) the right to vote such stock pursuant to any agreement, arrangement or understanding; provided, however,
that a person shall not be deemed the owner of any stock because of such person’s right to vote such stock if the agreement,
arrangement or understanding to vote such stock arises solely from a revocable proxy or consent given in response to a proxy or
consent solicitation made to ten (10) or more persons; or

 

     

    11

    

 

(3)              
has any agreement, arrangement or understanding for the purpose of acquiring, holding, voting (except voting pursuant to a revocable
proxy or consent as described in item (b) of subsection (2) above), or disposing of such stock with any other person that beneficially
owns, or whose affiliates or associates beneficially own, directly or indirectly, such stock.

 

(vii)         
“person” means any individual, corporation, partnership, unincorporated association or other entity.

 

(viii)       
 “stock” means, with respect to any corporation, any capital stock of such corporation and, with respect to
any other entity, any equity interest of such entity.

 

(ix)            
“Principal Stockholder transferee” means any Person who acquires voting stock of the Corporation from a Principal
Stockholder (other than in connection with a public offering) and who is designated in writing by such Principal Stockholder as a “Principal
Stockholder transferee.”

 

(x)              
“voting stock” means, with respect to any corporation, stock of any class or series entitled to vote generally
in the election of directors and, with respect to any entity that is not a corporation, any equity interest entitled to vote generally
in the election of the governing body of such entity. Every reference to a percentage of voting stock shall refer to such percentage of
the votes of such voting stock.

 

10.             
Corporate Opportunities.

 

10.1          Certain
Acknowledgements. In recognition and anticipation that (i) certain of the directors, partners, principals, officers, members,
managers and/or employees of the Principal Stockholders or their Affiliated Companies (as defined below) may serve as directors or
officers of the Corporation and (ii) the Principal Stockholders and their Affiliated Companies engage and may continue to engage in
the same or similar activities or related lines of business as those in which the Corporation, directly or indirectly, may engage
and/or other business activities that overlap with or compete with those in which the Corporation, directly or indirectly, may
engage, and (iii) that the Corporation and its Affiliated Companies may engage in material business transactions with the Principal
Stockholders and their Affiliated Companies, and that the Corporation is expected to benefit therefrom, the provisions of this
Article 10 are set forth to regulate and define the conduct of certain affairs of the Corporation as they may involve the
Principal Stockholders and/or their Affiliated Companies and/or their respective directors, partners, principals, officers, members,
managers and/or employees, including any of the foregoing who serve as officers or directors of the Corporation (collectively, the
 “Exempted Persons”), and the powers, rights, duties and liabilities of the Corporation and its officers,
directors and stockholders in connection therewith. As used in this Amended Certificate of Incorporation, “Affiliated
Companies” shall mean (a) in respect of the Principal Stockholders, any entity that controls, is controlled by or under
common control with the Principal Stockholders (other than the Corporation and any company that is controlled by the Corporation)
and any investment entities managed by the Principal Stockholders or any of their Affiliated Companies (as general partner, sole
member or otherwise) and (b) in respect of the Corporation, any company controlled by the Corporation.

 

     

    12

    

 

10.2         
Competition and Corporate Opportunities. To the fullest extent permitted by applicable law, none of the Principal Stockholders,
their Affiliated Companies or any of the Exempted Persons shall have any fiduciary duty to refrain from engaging directly or indirectly
in the same or similar business activities or lines of business as the Corporation or any of its Affiliated Companies, and none of the
Principal Stockholders, their Affiliated Companies or any of the Exempted Persons shall be liable to the Corporation or its stockholders
for breach of any fiduciary or other duty (whether contractual or otherwise) solely by reason of any such activities of the Principal
Stockholders, their Affiliated Companies or any of the Exempted Persons. To the fullest extent permitted by applicable law, the Corporation,
on behalf of itself and its Affiliated Companies, renounces any interest or expectancy of the Corporation and its Affiliated Companies
in, or in being offered an opportunity to participate in, business opportunities that are from time to time presented to the Principal
Stockholders, their Affiliated Companies or any of the Exempted Persons, even if the opportunity is one that the Corporation or its Affiliated
Companies might reasonably be deemed to have pursued or had the ability or desire to pursue if granted the opportunity to do so, and each
of the Principal Stockholders, their Affiliated Companies and the Exempted Persons shall have no duty to communicate or offer such business
opportunity to the Corporation or its Affiliated Companies and, to the fullest extent permitted by applicable law, shall not be liable
to the Corporation, any of its Affiliated Companies or its stockholders for breach of any fiduciary or other duty (whether contractual
or otherwise), as a director, officer or stockholder of the Corporation solely, by reason of the fact that the Principal Stockholders,
their Affiliated Companies or any such Exempted Person pursues or acquires such business opportunity, sells, assigns, transfers or directs
such business opportunity to another Person or fails to present such business opportunity, or information regarding such business opportunity,
to the Corporation or any of its Affiliated Companies. For the avoidance of doubt, each of the Principal Stockholders, their Affiliated
Companies and the Exempted Persons shall, to the fullest extent permitted by law, have the right to, and shall have no duty (whether contractual
or otherwise) not to, directly or indirectly: (A) engage in the same, similar or competing business activities or lines of business as
the Corporation or its Affiliated Companies, (B) do business with any client or customer of the Corporation or its Affiliated Companies,
or (C) make investments in competing businesses of the Corporation or its Affiliated Companies, and such acts shall not be deemed wrongful
or improper. Notwithstanding anything to the contrary in this Section 2, the Corporation does not renounce any interest or expectancy
it may have in any business opportunity that is expressly offered to any Exempted Person solely in his or her capacity as a director or
officer of the Corporation.

 

10.3         
Certain Matters Deemed Not Corporate Opportunities. In addition to and notwithstanding the foregoing provisions of this
Article 10, a corporate opportunity shall not be deemed to be a potential corporate opportunity for the Corporation if it is a business
opportunity the Corporation is not financially able or contractually permitted or legally able to undertake, or that is, from its nature,
not in the line of the Corporation’s business or is of no practical advantage to it or that is one in which the Corporation has
no interest or reasonable expectancy.

     

    13

    

  

10.4         
 Amendment of this Article. Notwithstanding anything to the contrary elsewhere contained in this Amended Certificate of
Incorporation, subject to the rights of the holders of any series of Preferred Stock then outstanding, and in addition to any vote required
by applicable law, for so long as the Principal Stockholders collectively beneficially own (as such term is defined in Rule 13d-3 and
Rule 13d-5 under the Exchange Act) any issued and outstanding shares of Common Stock, the consent of the Principal Stockholders shall
be required to alter, amend or repeal, or to adopt any provision inconsistent with, this Article 10; provided, however,
that, to the fullest extent permitted by law, neither the alteration, amendment or repeal of this Article 10 nor the adoption of
any provision of this Amended Certificate of Incorporation inconsistent with this Article 10 shall apply to or have any effect on
the liability or alleged liability of any Exempted Person for or with respect to any activities or opportunities which such Exempted Person
becomes aware prior to such alteration, amendment, repeal or adoption.

 

11.             
Limitation of Liability.

 

11.1         
To the fullest extent permitted under the General Corporation Law, as it now exists or may hereafter be amended (but, in the case
of any such amendment, only to the extent such amendment permits the Corporation to provide broader exculpation than permitted prior thereto),
no Director shall be liable to the Corporation or its stockholders for monetary damages arising from a breach of fiduciary duty as a Director.

 

11.2         
Any amendment, repeal or modification of Section 11.1 shall not adversely affect any right or protection of a Director existing
at the time of such amendment, repeal or modification with respect to any act, omission or other matter occurring prior to such amendment,
repeal or modification.

 

12.             
Indemnification.

 

12.1          Right
to Indemnification and Advancement. The Corporation shall indemnify and hold harmless, to the fullest extent permitted by
applicable law as it presently exists or may hereafter be amended, (i) any Person who was or is a party or is threatened to be made
a party to or otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative (a “Proceeding”), by reason of the fact that he or she, or a Person for whom he
or she is the legal representative, is or was a Director or officer of the Corporation or, while a Director or officer of the
Corporation, is or was serving at the request of the Corporation as a director, officer, employee, agent or trustee of another
entity or enterprise, including service with respect to employee benefit plans, or (ii) the Principal Stockholder that is a party or
is threatened to be made a party to or otherwise involved in any Proceeding by reason of the fact that the Principal Stockholder is
or was a holder of equity interests in the Corporation (each such Person in clause (i) and (ii), a “Covered
Person”) against all liability and loss suffered and expenses (including, without limitation, attorneys’ fees and
expenses, judgments, fines, excise taxes or penalties under the Employee Retirement Income Security Act of 1974, as amended, and
amounts paid or to be paid in settlement) reasonably incurred by such Covered Person. Notwithstanding the preceding sentence, except
as otherwise provided in Section 12.3, the Corporation shall be required to indemnify a Covered Person in connection with a
Proceeding (or part thereof) commenced by such Covered Person only if the commencement of such Proceeding (or part thereof) by the
Covered Person was authorized by the Board.

 

     

    14

    

 

12.2         
Prepayment of Expenses. To the extent not prohibited by applicable law, the Corporation shall pay the expenses (including
attorneys’ fees) incurred by a Covered Person in defending any Proceeding in advance of its final disposition; provided,
however, that to the extent required by applicable law, such payment of expenses in advance of the final disposition of the Proceeding
shall be made only upon receipt of an undertaking by the Covered Person to repay all amounts advanced if it should be ultimately determined
that the Covered Person is not entitled to be indemnified under this Article 12 or otherwise.

 

12.3         
Claims. If a claim for indemnification or advancement of expenses under this Article 12 is not paid in full within
thirty (30) days after a written claim therefor by the Covered Person has been received by the Corporation, the Covered Person may file
suit to recover the unpaid amount of such claim and, if successful in whole or in part, shall be entitled to be paid the expense of prosecuting
such claim. In any such action the Corporation shall have the burden of proving that the Covered Person is not entitled to the requested
indemnification or advancement of expenses under applicable law. In (i) any suit brought by a Covered Person to enforce a right to indemnification
hereunder (but not in a suit brought by a Covered Person to enforce a right to an advancement of expenses) it shall be a defense that,
and (ii) any suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the Corporation
shall be entitled to recover such expenses upon a final adjudication that, such Person has not met any applicable standard for indemnification
set forth in the General Corporation Law. Neither the failure of the Corporation (including by its Directors who are not parties to such
action, a committee of such Directors, independent legal counsel, or its stockholders) to have made a determination prior to the commencement
of such suit that indemnification of the Covered Person is proper in the circumstances because the Covered Person has met the applicable
standard of conduct set forth in the General Corporation Law, nor an actual determination by the Corporation (including by its Directors
who are not parties to such action, a committee of such Directors, independent legal counsel, or its stockholders) that the Covered Person
has not met such applicable standard of conduct, shall create a presumption that such Person has not met the applicable standard of conduct
or, in the case of such a suit brought by the Covered Person, be a defense to such suit.

 

12.4         
Nonexclusivity of Rights. The rights conferred on any Covered Person by this Article 12 shall not be exclusive of any
other rights that such Covered Person may have or hereafter acquire under any statute, provision of this Amended Certificate of Incorporation,
the By-laws, agreement, vote of stockholders or disinterested Directors or otherwise.

 

12.5         
Other Sources. Subject to Section 12.6, the Corporation’s obligation, if any, to indemnify or to advance expenses
to any Covered Person who was or is serving at its request as a director, officer, employee or agent of another entity or enterprise shall
be reduced by any amount such Covered Person may collect as indemnification or advancement of expenses from such other entity or enterprise.

 

     

    15

    

 

12.6         
 Indemnitor of First Resort. In all events, (i) the Corporation hereby agrees that it is the indemnitor of first resort
(i.e., its obligation to a Covered Person to provide advancement and/or indemnification to such Covered Person are primary and any obligation
of any Principal Stockholder (including any Affiliate thereof other than the Corporation) to provide advancement or indemnification hereunder
or under any other indemnification agreement (whether pursuant to contract, by-laws or charter), or any obligation of any insurer of any
Principal Stockholder to provide insurance coverage, for the same expenses, liabilities, judgments, penalties, fines and amounts paid
in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such expenses,
liabilities, judgments, penalties, fines and amounts paid in settlement) incurred by such Covered Person are secondary and (ii) if
any Principal Stockholder (or any Affiliate thereof, other than the Corporation) pays or causes to be paid, for any reason, any amounts
otherwise indemnifiable hereunder or under any other indemnification agreement (whether pursuant to contract, by-laws or charter) with
such Covered Person, then (x) such Principal Stockholder (or such Affiliate, as the case may be), as the case may be, shall be fully
subrogated to all rights of such Covered Person with respect to such payment and (y) the Corporation shall fully indemnify, reimburse
and hold harmless such Principal Stockholder (or such other Affiliate), as the case may be, for all such payments actually made by such
Principal Stockholder (or such other Affiliate).

 

12.7         
Amendment or Repeal. Any amendment or repeal of the foregoing provisions of this Article 12 shall not adversely affect
any right or protection hereunder of any Covered Person in respect of any act or omission occurring prior to the time of such amendment
or repeal.

 

12.8         
Other Indemnification and Prepayment of Expenses. This Article 12 shall not limit the right of the Corporation, to
the extent and in the manner permitted by applicable law, to indemnify and to advance expenses to Persons other than Covered Persons when
and as authorized by appropriate corporate action.

 

12.9         
Reliance. Covered Persons who after the date of the adoption of this provision become or remain a Covered Person described
in Article 12 will be conclusively presumed to have relied on the rights to indemnity, advance of expenses and other rights contained
in this Article 12 in entering into or continuing the service. The rights to indemnification and to the advance of expenses conferred
in this Article 12 will apply to claims made against any Covered Person described in Article 12 arising out of acts or omissions
in respect of the Corporation or one of its subsidiaries that occurred or occur both prior and subsequent to the adoption hereof. The
rights conferred upon Covered Persons in this Article 12 shall be contract rights and such rights shall continue as to a Covered
Person who has ceased to be a Director or officer and shall inure to the benefit of the Covered Person’s heirs, executors and administrators.
Any amendment, alteration or repeal of this Article 12 that adversely affects any right of a Covered Person or its successors shall
be prospective only and shall not limit, eliminate, or impair any such right with respect to any proceeding involving any occurrence or
alleged occurrence of any action or omission to act that took place prior to such amendment or repeal.

 

     

    16

    

 

12.10      Insurance.
The Corporation may purchase and maintain insurance, at its expense, to protect itself and any Director, officer, employee or agent
of the Corporation or another corporation, partnership, joint venture, trust or other enterprise against any expense, liability or
loss, whether or not the Corporation would have the power to indemnify such person against such expense, liability or loss under the
General Corporation Law.

 

13.             
Adoption, Amendment or Repeal of By-Laws. In furtherance and not in limitation of the powers conferred
by law, the Board is expressly authorized to make, alter, amend or repeal the By-laws subject to the power of the stockholders of the
Corporation entitled to vote with respect thereto to make, alter, amend or repeal the By-laws; provided, that with respect to the
powers of stockholders entitled to vote with respect thereto to make, alter, amend or repeal the By-laws, from and after the 40% Triggering
Event, in addition to any other vote otherwise required by law, the affirmative vote of the holders of sixty-six and two-thirds percent
(66 2/3%) of the total voting power of the outstanding shares of capital stock of the Corporation entitled to vote generally in the election
of Directors, voting together as a single class, shall be required to make, alter, amend or repeal the By-laws.

 

14.             
Adoption, Amendment and Repeal of Certificate. Subject to Article 5, the Corporation reserves the right to amend, alter,
change or repeal any provision contained in this Amended Certificate of Incorporation, in the manner now or hereafter prescribed by the
General Corporation Law, and all rights, preferences and privileges of whatsoever nature conferred upon stockholders, Directors or any
other Persons whomsoever by and pursuant to this Amended Certificate of Incorporation in its present form or as hereafter amended, are
granted and held subject to this reservation. Notwithstanding anything to the contrary contained in this Amended Certificate of Incorporation,
and notwithstanding that a lesser percentage may be permitted from time to time by applicable law, no provision of Sections 7.2,
7.3 and 7.4 of Article 7, Section 8.1 and 8.2 of Article 8 or Article 9, 10, 12, 13, 13 or 15 may be altered, amended
or repealed in any respect, nor may any provision or by-law inconsistent therewith be adopted, unless in addition to any other vote required
by this Amended Certificate of Incorporation or otherwise required by law, (i) prior to the 40% Triggering Event, such alteration,
amendment, repeal or adoption is approved by, in addition to any other vote otherwise required by law, the affirmative vote of the holders
of a majority of the total voting power of the outstanding shares of capital stock of the Corporation entitled to vote generally in the
election of Directors, voting together as a single class, and (ii) from and after the 40% Triggering Event, such alteration, amendment,
repeal or adoption is approved by, in addition to any other vote otherwise required by law, the affirmative vote of the holders of sixty-six
and two-thirds percent (66 2/3%) of the total voting power of the outstanding shares of capital stock of the Corporation entitled to vote
generally in the election of Directors, voting together as a single class, at a meeting of the stockholders called for that purpose.

 

     

    17

    

 

15.              Forum
for Adjudication of Disputes. Unless the Corporation consents in writing to the selection of an alternative forum, the Court of
Chancery of the State of Delaware (or, if the Court of Chancery does not have jurisdiction, then another court of the State of
Delaware or, if no court of the State of Delaware has jurisdiction, then the United States District Court for the District of
Delaware) shall, to the fullest extent permitted by law, be the sole and exclusive forum for (a) any derivative action or proceeding
brought on behalf of the Corporation, (b) any action asserting a claim of breach of a fiduciary duty owed by any director, officer,
employee or stockholder of the Corporation to the Corporation or the Corporation’s stockholders, creditors or other
constituents, (c) any action asserting a claim arising pursuant to any provision of the General Corporation Law, this Amended
Certificate of Incorporation or the By-laws (as either may be amended and/or restated from time to time) or (d) any action asserting
a claim against the Corporation or any director or officer of the Corporation governed by the internal affairs doctrine; provided that
for the avoidance of doubt, this provision, including for any “derivative action”, will not apply to suits to enforce a
duty or liability created by the Securities Act, the Exchange Act or other federal securities laws for which there is exclusive or
concurrent federal and state jurisdiction. Unless the Corporation consents in writing to the selection of an alternative forum, the
federal district courts of the United States of America shall be the exclusive forum for the resolution of any complaint asserting a
cause of action arising under the Securities Act.

 

16.             
Severability. If any provision or provisions of this Amended Certificate of Incorporation shall be held to be invalid, illegal
or unenforceable as applied to any circumstance for any reason whatsoever: (i) the validity, legality and enforceability of such
provisions in any other circumstance and of the remaining provisions of this Amended Certificate of Incorporation (including, without
limitation, each portion of any paragraph of this Amended Certificate of Incorporation containing any such provision held to be invalid,
illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable) shall not in any way be affected or impaired
thereby and (ii) to the fullest extent possible, the provisions of this Amended Certificate of Incorporation (including, without
limitation, each such portion of any paragraph of this Amended Certificate of Incorporation containing any such provision held to be invalid,
illegal or unenforceable) shall be construed so as to permit the Corporation to protect its Directors, officers, employees and agents
from personal liability in respect of their good faith service to or for the benefit of the Corporation to the fullest extent permitted
by law.

 

17.             
Definitions. As used in this Amended Certificate of Incorporation, unless the context otherwise requires or as set forth
in another Article or Section of this Amended Certificate of Incorporation, the term:

 

(a)              
“40% Triggering Event” means the first date on which the Principal Stockholders cease collectively to beneficially
own (as such term is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act) shares representing at least forty percent (40%) of
the issued and outstanding shares of Common Stock.

 

(b)              
 “50% Triggering Event” means the first date on which the Principal Stockholders cease collectively to beneficially
own (as such term is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act) shares representing at least fifty percent (50%) of
the issued and outstanding shares of Common Stock.

 

(c)              
 “Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled
by, or under common control with such Person; provided, that (i) neither the Corporation nor any of its subsidiaries will
be deemed an Affiliate of any stockholder of the Corporation or any of such stockholders’ Affiliates and (ii) no stockholder
of the Corporation will be deemed an Affiliate of any other stockholder of the Corporation, in each case, solely by reason of any investment
in the Corporation or any rights conferred on such stockholder pursuant to the Stockholders Agreement (including any representatives of
such stockholder serving on the Board).

 

     

    18

    

  

(d)              
 “Amended Certificate of Incorporation” is defined in the recitals.

 

(e)              
“beneficially own” means, with respect to any securities, having “beneficial ownership” of such
securities as determined pursuant to Rule 13d-3 under the Exchange Act.

 

(f)               
“Board” is defined in Section 5.1(ii)(1).

 

(g)              
“Business Day” means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized
by law to be closed in the City of New York.

 

(h)              
“By-laws” is defined in Section 7.1.

 

(i)                
“Chair” means the Chair of the Board.

 

(j)                
“Chief Executive Officer” means the Chief Executive Officer of the Corporation.

 

(k)              
“Class A Common Stock” is defined in Section 4.1.

 

(l)                
“Class B Common Stock” is defined in Section 4.1.

 

(m)            
“Common Stock” is defined in Section 4.1.

 

(n)              
“Common Unit” means a non-voting common interest unit of EWC Ventures.

 

(o)              
“control” (including the terms “controlling” and “controlled”), with respect
to the relationship between or among two or more Persons, means the possession, directly or indirectly, of the power to direct or cause
the direction of the affairs or management of such subject Person, whether through the ownership of voting securities, as trustee or executor,
by contract or otherwise.

 

(p)              
“Corporation” is defined in the preamble.

 

(q)              
“Covered Person” is defined in Section 12.1.

 

(r)               
“Director” is defined in Section 7.1.

 

(s)                “Disposition
Event” means any merger, consolidation or other business combination of the Corporation, whether effectuated through one
transaction or series of related transactions (including a tender offer followed by a merger in which holders of Class A Common
Stock receive the same consideration per share paid in the tender offer), unless, following such transaction, all or substantially
all of the holders of the voting power of all outstanding classes of Common Stock and series of Preferred Stock that are generally
entitled to vote in the election of Directors prior to such transaction or series of transactions, continue to hold a majority of
the voting power of the surviving entity (or its parent) resulting from such transaction or series of transactions in substantially
the same proportions as immediately prior to such transaction or series of transactions.

 

     

    19

    

 

(t)                
“EWC Ventures” means EWC Ventures, LLC, a Delaware limited liability company, or any successor thereto.

 

(u)              
“Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor law or statute, together
with the rules and regulations promulgated thereunder.

 

(v)              
“Exchange Agreement” means the Exchange Agreement, dated as of August 4, 2021, by and among EWC Ventures, the
Corporation and the holders of Common Units and shares of Class B Common Stock, as the same may be amended, restated, supplemented and/or
otherwise modified, from time to time.

 

(w)            
“Exempted Person” is defined in Section 10.1.

 

(x)              
“General Corporation Law” is defined in the recitals.

 

(y)              
“Paired Interest” means one Common Unit together with one share of Class B Common Stock, subject to adjustment
pursuant to Section 2.03 of the Exchange Agreement.

 

(z)              
“Person” means any individual, partnership, firm, corporation, limited liability company, association, trust,
unincorporated organization or other entity.

 

(aa)           
“Preferred Stock” is defined in Section 4.1.

 

(bb)          
“Preferred Stock Directors” is defined in Section 7.1.

 

(cc)           
“Principal Stockholders” means (i) General Atlantic Partners AIV (EW), L.P., GA AIV-1 B Interholdco (EW), L.P.
and GAPCO AIV Interholdco (EW), L.P.; (ii) any investment funds managed, sponsored, controlled or advised by, or managed accounts of,
General Atlantic LLC and its successors and Affiliates; and (iii) any of their respective successors and Affiliates.

 

(dd)          
“Proceeding” is defined in Section 12.1.

 

(ee)           
“Securities Act” means the Securities Act of 1933, as amended, and any successor law or statute, together with
the rules and regulations promulgated thereunder.

 

(ff)             
“Stock Adjustment” is defined in Section 5.1(ii)(3).

 

(gg)          
“Stockholders Agreement” means the Stockholders Agreement, dated August 4, 2021, by and among the Corporation,
the stockholders named therein and the other persons party thereto or that may become parties thereto from time to time, as the same may
be amended, restated, supplemented and/or otherwise modified, from time to time.

 

[Remainder of page intentionally
left blank.]

  

     

     

    

 

IN WITNESS WHEREOF, this Amended and Restated Certificate
of Incorporation of European Wax Center, Inc. has been duly executed by the authorized officer below this 4th day of August,
2021.

   

		By:	/s/ Gavin O’Connor
	 	 	Name:  Gavin O’Connor
	 	 	Title:    Secretary

 

[Signature Page
to Amended and Restated Certificate of Incorporation]

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